UNITED STATES
SECURITIES AND EXCHANGE
COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT
REPORT
Pursuant to
Section 13 or 15(d) of the
Securities
Exchange Act of 1934
Date of Report (Date of earliest
event reported)
May 18, 2006
GARTNER, INC.
(Exact name of registrant as
specified in its charter)
DELAWARE
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1-14443
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04-3099750
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(State or Other Jurisdiction of
Incorporation)
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(Commission File Number)
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(IRS Employer
Identification No.)
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P.O. Box 10212
56 Top Gallant Road
Stamford, CT 06902-7747
(Address of Principal Executive
Offices, including Zip Code)
(203) 316-1111
(Registrants telephone number,
including area code)
Check the appropriate box below if the Form 8-K filing
is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions (see General Instruction A.2. below):
o Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
o Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
Item 1.01. Entry into a Material
Definitive Agreement.
On May 18, 2006, Gartner, Inc., a Delaware corporation (the Company), entered into an Underwriting Agreement (the Underwriting Agreement) among the Company, Silver Lake Partners, L.P., a Delaware limited partnership, Silver Lake Investors, L.P., a Delaware limited partnership, and Silver Lake Technology Investors, L.L.C., a Delaware limited liability company (collectively, Silver Lake) and Goldman, Sachs & Co., JP Morgan Securities Inc. and Lehman Brothers Inc., as representatives of the several underwriters named on Schedule I thereto (the Underwriters) relating to the sale by Silver Lake of an aggregate of
9,500,000 shares of the Companys common stock (plus, at the option of the Underwriters, an additional 1,425,000 shares) (the Offering). The Offering is being made pursuant to the Companys Registration Statement on Form S-3 (Registration No. 333-133914) which was previously filed with the Securities and Exchange Commission. The Company will not receive any of the proceeds from the sale of the Companys Common Stock by Silver Lake.
The Underwriting Agreement is filed as Exhibit 1.1 to this Current Report on Form 8-K and incorporated herein by reference. The above description is qualified in its entirety by reference to such exhibit.
Item 8.01.
Other Events
On
May 19, 2006, the Company issued a press release announcing that the price
of the shares to be sold in the Offering was set at $14.75 per share. A copy of
the press release is attached hereto as Exhibit 99.1 and is incorporated herein
by reference.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits
Exhibit 1.1
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Underwriting Agreement
dated May 18, 2006.
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Exhibit 99.1
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Press Release dated May
19, 2006.
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SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
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Gartner, Inc.
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Date: May 19, 2006
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By:
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/s/ CHRISTOPHER J. LAFOND
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Christopher J. Lafond
Executive Vice President, Chief Financial Officer
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EXHIBIT INDEX
EXHIBIT NO.
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DESCRIPTION
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1.1
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Underwriting Agreement dated May 18, 2006
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99.1
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Press Release dated May
19, 2006
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Exhibit 1.1
Gartner, Inc.
Common Stock
Underwriting Agreement
May
18, 2006
Goldman,
Sachs & Co.,
J.P. Morgan Securities Inc.
Lehman
Brothers Inc.
As representatives of the several Underwriters
named in Schedule I hereto,
c/o
Goldman, Sachs & Co.,
85 Broad Street,
New York, New York 10004
Ladies and Gentlemen:
Certain stockholders named
in Schedule II hereto (the Selling Stockholders) of Gartner, Inc., a Delaware
corporation (the Company), propose, subject to the terms and conditions
stated herein, to sell to the Underwriters named in Schedule I hereto (the Underwriters)
an aggregate of 9,500,000 shares (the Firm Securities) and, at the election
of the Underwriters, up to 1,425,000 additional shares (the Optional
Securities) of Common Stock, par value $0.0005 per share (Stock) of the
Company (the Firm Securities and the Optional Securities which the Underwriters
elect to purchase pursuant to Section 2 hereof are herein collectively called
the Securities).
1. (A) The
Company represents and warrants to, and agrees with, each of the Underwriters
that:
(a) An automatic shelf registration statement
as defined under Rule 405 under the Securities Act of 1933, as amended (the Act)
on Form S-3 (File No. 333-133914) in respect of the Securities has been filed
with the Securities and Exchange Commission (the Commission) not earlier than
three years prior to the date hereof; such registration statement, and any
post-effective amendment thereto, became effective on filing; and no stop order
suspending the effectiveness of such registration statement or any part thereof
has been issued and no proceeding for that purpose has been initiated or, to
the Companys knowledge, threatened by the Commission, and no notice of
objection of the Commission to the use of such registration statement or any
post-effective
1
amendment thereto pursuant to Rule 401(g)(2) under the Act has been
received by the Company (the preliminary prospectus relating to the Securities included
in such registration statement is hereinafter called the Preliminary
Prospectus; the various parts of such registration statement, including all
exhibits thereto, each as amended at the time such part of the registration
statement became effective, are hereinafter collectively called the Registration
Statement; the Preliminary Prospectus, as amended and supplemented immediately
prior to the Applicable Time (as defined in Section 1(c) hereof), is
hereinafter called the Pricing Prospectus; the form of the final prospectus
relating to the Securities filed with the Commission pursuant to Rule 424(b)
under the Act in accordance with Section 5(a) hereof is hereinafter called the Prospectus;
any reference herein to the Pricing Prospectus, the Preliminary Prospectus or
the Prospectus shall be deemed to refer to and include the documents
incorporated by reference therein pursuant to Item 12 of Form S-3 under the
Act, as of the date of such prospectus; any reference to any amendment or
supplement to the Preliminary Prospectus or the Prospectus shall be deemed to
refer to and include any post-effective amendment to the Registration
Statement, any prospectus supplement relating to the Securities filed with the
Commission pursuant to Rule 424(b) under the Act and any documents filed under
the Securities Exchange Act of 1934, as amended (the Exchange Act), and
incorporated therein, in each case after the date of the Preliminary Prospectus
or the Prospectus, as the case may be; any reference to any amendment to the
Registration Statement shall be deemed to refer to and include any annual
report of the Company filed pursuant to Section 13(a) or 15(d) of the Exchange
Act after the effective date of the Registration Statement that is incorporated
by reference in the Registration Statement; and any issuer free writing
prospectus as defined in Rule 433 under the Act relating to the Securities is
hereinafter called an Issuer Free Writing Prospectus);
(b) No order preventing or suspending the use of the
Preliminary Prospectus or any Issuer Free Writing Prospectus has been issued by
the Commission, and the Preliminary Prospectus, at the time of filing thereof,
conformed in all material respects to the requirements of the Act and the rules
and regulations of the Commission thereunder, and did not contain an untrue
statement of a material fact or omit to state a material fact required to be
stated therein or necessary to make the statements therein, in the light of the
circumstances under which they were made, not misleading; provided, however,
that this representation and warranty shall not apply to any statements or
omissions made in reliance upon and in conformity with information furnished in
writing to the Company by an Underwriter through Goldman, Sachs & Co.
expressly for use therein or by a Selling Stockholder expressly for use in the
preparation
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of the information in the Preliminary Prospectus under the caption Selling
Stockholders;
(c) For the purposes of this Agreement, the Applicable
Time is 6:30 pm (Eastern time) on the date of this Agreement. The Pricing
Prospectus as supplemented by the pricing information listed on Schedule IV
(the Pricing Information), as of the Applicable Time, did not include any untrue statement of a
material fact or omit to state any material fact necessary in order to make the
statements therein, in the light of the circumstances under which they were
made, not misleading; and each Issuer Free Writing Prospectus listed on
Schedule III(a) hereto does not conflict with the information contained in
the Registration Statement, the Pricing Prospectus or the Prospectus and each
such Issuer Free Writing Prospectus, as supplemented by and taken together with
the Pricing Prospectus and Pricing Information as of the Applicable Time, did
not include any untrue statement of a material fact or omit to state any
material fact necessary in order to make the statements therein, in the light
of the circumstances under which they were made, not misleading; provided,
however, that this representation and warranty shall not apply to statements or
omissions made in the Pricing Prospectus and an Issuer Free Writing Prospectus
in reliance upon and in conformity with information furnished in writing to the
Company by an Underwriter through Goldman, Sachs & Co. expressly for use
therein or by a Selling Stockholder expressly for use in the preparation of the
information in the Registration Statement and the Pricing Prospectus under the
caption Selling Stockholders and in the preparation of the third paragraph of
the Issuer Free Writing Prospectus listed
on Schedule III(a);
(d) The documents incorporated by reference in
the Pricing Prospectus and the Prospectus, when they became effective or were
filed with the Commission, as the case may be, conformed in all material
respects to the requirements of the Act or the Exchange Act, as applicable, and
the rules and regulations of the Commission thereunder, and none of such
documents contained an untrue statement of a material fact or omitted to state
a material fact required to be stated therein or necessary to make the
statements therein not misleading; any further documents so filed and
incorporated by reference in the Prospectus or any further amendment or
supplement thereto, when such documents become effective or are filed with the
Commission, as the case may be, will conform in all material respects to the
requirements of the Act or the Exchange Act, as applicable, and the rules and
regulations of the Commission thereunder and will not contain an untrue
statement of a material fact or omit to state a material fact required to be
stated therein or necessary to make the statements therein not misleading; provided,
however, that this representation and warranty shall not apply to any
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statements or omissions made in reliance upon and in conformity with
information furnished in writing to the Company by an Underwriter through
Goldman, Sachs & Co. expressly for use therein or by a Selling Stockholder
expressly for use in the preparation of the information in the Pricing
Prospectus and the Prospectus under the caption Selling Stockholders; and no
such documents were filed with the Commission since the Commissions close of
business on the business day immediately prior to the date of this Agreement
and prior to the execution of this Agreement, except as set forth on Schedule
III(b) hereto;
(e) The Registration Statement conforms, and the
Prospectus and any further amendments or supplements to the Registration
Statement and the Prospectus will conform, in all material respects to the
requirements of the Act and the rules and regulations of the Commission
thereunder and do not and will not, as of the applicable effective date as to
each part of the Registration Statement and as of the applicable filing date as
to the Prospectus and any amendment or supplement thereto, contain an untrue
statement of a material fact or omit to state a material fact required to be
stated therein or necessary to make the statements therein not misleading;
provided, however, that this representation and warranty shall not apply to any
statements or omissions made in reliance upon and in conformity with
information furnished in writing to the Company by an Underwriter through
Goldman, Sachs & Co. expressly for use therein or by a Selling Stockholder expressly
for use in the preparation of the information in the Registration Statement and
the Prospectus under the caption Selling Stockholders;
(f) Each of the
Companys subsidiaries that have either (i) total assets that exceed 10 percent
of the total assets of the Company and its subsidiaries, on a consolidated
basis, as of March 31, 2006, or (ii) total revenues that exceed 10 percent of
the total revenues of the Company and its subsidiaries, on a consolidated
basis, for the year ended December 31, 2005, is herein referred to as a Subsidiary
and collectively as the Subsidiaries. Neither the Company nor any of its Subsidiaries
has sustained since the date of the latest audited financial statements
included or incorporated by reference in the Pricing Prospectus any loss or
interference with its business that is material to the Company and its Subsidiaries,
taken as a whole, from fire, explosion, flood or other calamity, whether or not
covered by insurance, or from any labor dispute or court or governmental
action, order or decree, otherwise than as set forth or contemplated in the Pricing
Prospectus; and, since the respective dates as of which information is given in
the Registration Statement and the Pricing Prospectus, there has not been any material
change in the capital stock or long term debt of the Company or any of its Subsidiaries
or any material adverse change, or any development involving a prospective
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material adverse change, in or affecting the general affairs,
management, financial position, stockholders equity or results of operations
of the Company and its Subsidiaries, taken as a whole (a Material Adverse
Effect), otherwise than as set forth or contemplated in the Pricing Prospectus;
(g) The Company and its Subsidiaries have good
and marketable title in fee simple to all real property and good and marketable
title to all personal property owned by them, in each case free and clear of
all liens, encumbrances and defects except such as are described in the Pricing
Prospectus or such as do not affect the value of such property and do not
interfere with the use made and proposed to be made of such property by the
Company and its Subsidiaries, except for such defects and interferences as would
not have a Material Adverse Effect; and any real property and buildings held
under lease by the Company and its Subsidiaries are held by them under valid,
subsisting and enforceable leases with such exceptions as are not material to
the Company and its Subsidiaries, taken as a whole, and do not materially interfere
with the use made and proposed to be made of such property and buildings by the
Company and its Subsidiaries;
(h) The Company and the Subsidiaries have been
duly incorporated or formed, as the case may be, and are validly existing as a
corporation, limited liability company or limited partnership, as the case may
be, in good standing under the laws of each of their respective jurisdiction of
incorporation or organization, as the case may be, with power and authority
(corporate and other) to own their properties and conduct their business as
described in the Pricing Prospectus, and have been duly qualified as a foreign
corporation. limited liability company or limited partnership, as the case may
be, for the transaction of business and are in good standing under the laws of
each other jurisdiction in which they own or lease properties or conduct any
business so as to require such qualification, or are subject to no material
liability or disability by reason of the failure to be so qualified in any such
jurisdiction, except where the failure to be so qualified or have such power or
authority would not have a Material Adverse Effect;
(i) The Company has an authorized capitalization
as set forth in the Pricing Prospectus and all of the issued shares of capital
stock of the Company have been duly and validly authorized and issued and are
fully paid and non-assessable and conform in all material respects to the
description of the Stock contained in the Pricing Prospectus and Prospectus;
and, other than as set forth in the Pricing Prospectus and Prospectus, all of
the issued shares of capital stock of each Subsidiary of the Company have been
duly and validly authorized and issued, are fully
5
paid and non-assessable and (except for directors qualifying shares)
are owned directly or indirectly by the Company, free and clear of all liens,
encumbrances, equities or claims;
(j) The compliance by the Company with this
Agreement and the consummation of the transactions herein contemplated will not
conflict with or result in a breach or violation of any of the terms or
provisions of, or constitute a default under (i) any indenture, mortgage, deed
of trust, loan agreement or other agreement or instrument to which the Company
or any of its subsidiaries is a party or by which the Company or any of its
subsidiaries is bound or to which any of the property or assets of the Company
or any of its subsidiaries is subject, (ii) the Certificate of Incorporation or
By-laws of the Company or (iii) any
statute or any order, rule or regulation of any court or governmental agency or
body having jurisdiction over the Company or any of its subsidiaries or any of
their properties, except, with respect to clauses (i) and (iii), as would not have
a Material Adverse Effect; and no consent, approval, authorization, order,
registration or qualification of or with any such court or governmental agency
or body is required for the issue and sale of the Securities or the
consummation by the Company of the transactions contemplated by this Agreement
except such as have been obtained under the Act and such consents, approvals,
authorizations, registrations or qualifications as may be required under state
securities or Blue Sky laws in connection with the purchase and distribution of
the Securities by the Underwriters;
(k) Neither the Company nor any of its Subsidiaries
is in violation of its (i) Certificate of Incorporation or By-laws or (ii) in
default in the performance or observance of any obligation, covenant or
condition contained in any indenture, mortgage, deed of trust, loan agreement,
lease or other agreement or instrument to which it is a party or by which it or
any of its properties may be bound, except, with respect to clause (ii), as
would not have Material Adverse Effect;
(l) The statements set forth in the Pricing
Prospectus and Prospectus under the caption Description of Capital Stock,
insofar as they purport to constitute a summary of the terms of the Stock and
under the caption Underwriting, insofar as they purport to describe the
provisions of the laws and documents referred to therein, are accurate,
complete and fair in all material respects;
(m) Other than as set forth in the Pricing
Prospectus, there are no legal or governmental proceedings pending to which the
Company or any of its Subsidiaries is a party or of which any property of the
Company or any of its Subsidiaries is the subject which, if determined
adversely to the Company or any of its subsidiaries, would, individually or in
the
6
aggregate, have a Material Adverse Effect; and, to the Companys
knowledge, no such proceedings are threatened or contemplated by governmental
authorities or threatened by others;
(n) The Company is not and, after giving effect
to the offering and sale of the Securities and the application of the proceeds
thereof, will not be an investment company, as such term is defined in the
Investment Company Act of 1940, as amended (the Investment Company Act);
(o) (A) (i) At the time of filing the Registration
Statement, (ii) at the time of the most recent amendment thereto for the
purposes of complying with Section 10(a)(3) of the Act (whether such amendment
was by post-effective amendment, incorporated report filed pursuant to Section
13 or 15(d) of the Exchange Act or form of prospectus), and (iii) at the time
the Company or any person acting on its behalf (within the meaning, for this
clause only, of Rule 163(c) under the Act) made any offer relating to the
Securities in reliance on the exemption of Rule 163 under the Act, the Company
was a well-known seasoned issuer as defined in Rule 405 under the Act; and
(B) at the earliest time after the filing of the Registration Statement that
the Company or another offering participant made a bona fide offer (within the
meaning of Rule 164(h)(2) under the Act) of the Securities, the Company was not
an ineligible issuer as defined in Rule 405 under the Act;
(p) KPMG LLP, who have certified certain
financial statements of the Company and its subsidiaries, and have audited the
Companys internal control over financial reporting and managements assessment
thereof are independent public accountants as required by the Act and the rules
and regulations of the Commission thereunder;
(q) The Company maintains a system of internal control
over financial reporting (as such term is defined in Rule 13a-15(f) under the
Exchange Act) that complies with the requirements of the Exchange Act and has
been designed by the Companys principal executive officer and principal
financial officer, or under their supervision, to provide reasonable assurance
regarding the reliability of financial reporting and the preparation of
financial statements for external purposes in accordance with generally
accepted accounting principles. The Companys internal control over financial
reporting is effective and the Company is not aware of any material weaknesses
in its internal control over financial reporting;
(r) Since the date of the latest audited
financial statements included or incorporated by reference in the Pricing
Prospectus, there has been no change in the Companys internal control over
financial reporting
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that has materially affected, or is reasonably likely to materially
affect, the Companys internal control over financial reporting; and
(s) The Company maintains disclosure controls and
procedures (as such term is defined in Rule 13a-15(e) under the Exchange Act)
that comply with the requirements of the Exchange Act; such disclosure controls
and procedures have been designed to ensure that material information relating
to the Company and its subsidiaries is made known to the Companys principal
executive officer and principal financial officer by others within those
entities; and such disclosure controls and procedures are effective.
(B) The Selling
Stockholders jointly represent and warrant to, and agree with, each of the
Underwriters and the Company that:
(i) All consents,
approvals, authorizations and orders necessary for the execution and delivery
by the Selling Stockholders of this Agreement, and for the sale and delivery of
the Securities to be sold by the Selling Stockholders hereunder, have been
obtained; and the Selling Stockholders have full right, power and authority to
enter into this Agreement and to sell, assign, transfer and deliver the Securities
to be sold by the Selling Stockholders hereunder;
(ii) The sale of the
Securities to be sold by the Selling Stockholders hereunder and the compliance
by the Selling Stockholders with all of the provisions of this Agreement and
the consummation of the transactions herein and therein contemplated will not
conflict with or result in a breach or violation, in any material respect, of
any of the terms or provisions of, or constitute a material default under, any
statute, indenture, mortgage, deed of trust, loan agreement or other agreement
or instrument to which the Selling Stockholders are a party or by which the Selling
Stockholders are bound or to which any of the property or assets of the Selling
Stockholders are subject, nor will such action result in any violation of the
provisions of the Certificate of Formation, Operating Agreement or Amended and
Restated Partnership Agreement, as applicable of each of the Selling
Stockholders or any material violation of any statute or any order, rule or
regulation of any court or governmental agency or body having jurisdiction over
the Selling Stockholders or the property of the Selling Stockholders;
(iii) The Selling
Stockholders have, and immediately prior to each Time of Delivery (as defined in Section 4 hereof) the Selling
Stockholders will have, good and valid title to the Securities to be sold by the
Selling Stockholders hereunder, free and clear of all liens, encumbrances,
equities or claims; and, upon delivery of such Securities and payment therefor
pursuant hereto, good and valid title to such
8
Securities, free and clear of all liens, encumbrances, equities or
claims, will pass to the several Underwriters;
(iv) During the
period beginning from the date hereof and continuing to and including the date
90 days after the date of the Prospectus (the initial Lock-Up Period), not to
offer, sell contract to sell or otherwise dispose of, except as provided
hereunder, any securities of the Company that are substantially similar to the
Securities, including but not limited to any securities that are convertible
into or exchangeable for, or that represent the right to receive, Stock or any
such substantially similar securities (other than (i) the sales of Securities
to be sold by the Selling Stockholders hereunder or as described in the Pricing
Prospectus, (ii) transfers of Securities to another Selling Stockholder,
provided that such transfer does not result in a filing with the Commission
during the Lock-Up Period, and (iii) the exercise of an option or warrant or
the conversion or exchange of convertible or exchangeable securities, in each
case outstanding as of the date of this Agreement or described in the Pricing
Prospectus as being outstanding on or prior to the First Time of Delivery),
without your prior written consent;
(v) The Selling
Stockholders have not taken and will not take, directly or indirectly, any
action which is designed to or which has constituted or which might reasonably
be expected to cause or result in stabilization or manipulation of the price of
any security of the Company to facilitate the sale or resale of the Securities;
(vi) To the extent
that any statements or omissions made in the Registration Statement, the
Prospectus or any amendment or supplement thereto are made in reliance upon and
in conformity with written information furnished to the Company by the Selling
Stockholders expressly for use therein, the Preliminary Prospectus and the
Registration Statement did, and the Prospectus and any further amendments or
supplements to the Registration Statement and the Prospectus, when they are
filed with the Commission will conform in all material respects to the
requirements of the Act and the rules and regulations of the Commission
thereunder and will not contain any untrue statement of a material fact or omit
to state any material fact required to be stated therein or necessary to make
the statements therein not misleading; provided that it is understood and
agreed that, for purposes of this Agreement, including Section 9 hereof, the
only such information furnished by such Selling Stockholder consists of the
information in the Prospectus under the caption Selling Stockholders and the
information covered in the third paragraph in the Issuer Free Writing
Prospectus listed on Schedule III(a)
insofar as such information relates to such Selling Stockholder and the
beneficial owners of such Selling Stockholder; and
9
(vii) In order to
document the Underwriters compliance with the reporting and withholding
provisions of the Tax Equity and Fiscal Responsibility Act of 1982 with respect
to the transactions herein contemplated, such Selling Stockholder will deliver
to you prior to or at the First Time of Delivery (as hereinafter defined) a
properly completed and executed United States Treasury Department Form W-9 (or
other applicable form or statement specified by Treasury Department regulations
in lieu thereof).
2. Subject
to the terms and conditions herein set forth, (a) each of the Selling
Stockholders agree, jointly, to sell to each of the Underwriters, and each of
the Underwriters agrees, severally and not jointly, to purchase from each of
the Selling Stockholders, at a purchase price per share of $14.0494, the number
of Firm Securities (to be adjusted by you so as to eliminate fractional shares)
determined by multiplying the aggregate number of Firm Securities to be sold by
each of the Selling Stockholders as set forth opposite their respective names
in Schedule II hereto by a fraction, the numerator of which is the aggregate
number of Firm Securities to be purchased by such Underwriter as set forth
opposite the name of such Underwriter in Schedule I hereto and the denominator
of which is the aggregate number of Firm Securities to be purchased by all of
the Underwriters from all of the Selling Stockholders hereunder and (b) in the
event and to the extent that the Underwriters shall exercise the election to
purchase Optional Securities as provided below, each of the Selling
Stockholders agree, jointly, to sell to each of the Underwriters, and each of
the Underwriters agrees, severally and not jointly, to purchase from each of
the Selling Stockholders, at the purchase price per share set forth in clause
(a) of this Section 2, that portion of the number of Optional Securities as to
which such election shall have been exercised (to be adjusted by you so as to
eliminate fractional shares) determined by multiplying such number of Optional
Securities by a fraction the numerator of which is the maximum number of
Optional Securities which such Underwriter is entitled to purchase as set forth
opposite the name of such Underwriter in Schedule I hereto and the denominator
of which is the maximum number of Optional Securities that all of the
Underwriters are entitled to purchase hereunder.
The Selling Stockholders, as
and to the extent indicated in Schedule II hereto, hereby grant, jointly, to
the Underwriters the right to purchase at their election up to 1,425,000
Optional Securities, at the purchase price per share set forth in the paragraph
above, for the sole purpose of covering sales of shares in excess of the number
of Firm Securities. Any such election to purchase Optional Securities shall be
made in proportion to the number of Optional Securities to be sold by each
Selling Stockholder. Any such election to purchase Optional Securities may be
exercised only by written notice from you to the Selling Stockholders, given
within a period of 30 calendar days after the date
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of this Agreement and setting
forth the aggregate number of Optional Securities to be purchased and the date
on which such Optional Securities are to be delivered, as determined by you but
in no event earlier than the First Time of Delivery (as defined in Section 4
hereof) or, unless you and the Selling Stockholders otherwise agree in writing,
earlier than two or later than ten business days after the date of such notice.
3. Upon
the authorization by the Selling Stockholders of the release of the Firm Securities, the several Underwriters
propose to offer the Firm Securities
for sale upon the terms and conditions set forth in the Prospectus.
4. (a) Each Underwriter hereunder shall acquire
security entitlements with respect to the Securities and in such authorized
denominations and registered in such names as Goldman, Sachs & Co. may
request upon at least forty-eight hours prior notice to the Selling
Stockholders shall be delivered by or on behalf of the Selling Stockholders to
Goldman, Sachs & Co., through the facilities of the Depository Trust
Company (DTC), for the account of such Underwriter, against payment by or on
behalf of such Underwriter of the purchase price therefor by wire transfer of
Federal (same-day) funds to the account specified by the Selling Stockholders
to Goldman, Sachs & Co. at least forty-eight hours in advance. Prior to the
Time of Delivery (as defined below), the Selling Stockholders shall deliver or
cause to be delivered to the Companys transfer agent certificates representing
Securities, with instructions to cancel such certificates and register the
Shares in the name of Cede & Co., as nominee of DTC, on the Time of
Delivery. The time and date of such delivery and payment shall be, with respect
to the Firm Securities, 9:30 a.m., New York City time, on May 24, 2006 or such
other time and date as Goldman, Sachs & Co. and the Selling Stockholders
may agree upon in writing, and, with respect to the Optional Securities, 9:30
a.m., New York time, on the date specified by Goldman, Sachs & Co. in the
written notice given by Goldman, Sachs & Co. of the Underwriters election
to purchase such Optional Securities, or such other time and date as Goldman,
Sachs & Co. and the Selling Stockholders may agree upon in writing. Such
time and date for delivery of the Firm Securities is herein called the First
Time of Delivery, such time and date for delivery of the Optional Securities,
if not the First Time of Delivery, is herein called the Second Time of
Delivery, and each such time and date for delivery is herein called a Time of
Delivery.
(b) The documents
to be delivered at each Time of Delivery by or on behalf of the parties hereto
pursuant to Section 8 hereof, including the cross-receipt for the Securities
and any additional documents requested by the Underwriters pursuant to Section
8(k) hereof, will be delivered at the offices of Latham & Watkins LLP, 885
Third Avenue, Suite 1000, New York, New York 10022 (the Closing Location),
and the Securities will be delivered, all at such Time of Delivery. A meeting
will be held at the Closing Location at 5:00 p.m., New York
11
City time, on the New York
Business Day next preceding such Time of Delivery, at which meeting the final
drafts of the documents to be delivered pursuant to the preceding sentence will
be available for review by the parties hereto. For the purposes of this Section
4, New York Business Day shall mean each Monday, Tuesday, Wednesday, Thursday
and Friday which is not a day on which banking institutions in New York City
are generally authorized or obligated by law or executive order to close.
5. The
Company agrees with each of the
Underwriters:
(a) To prepare the
Prospectus in a form approved by you and to file such Prospectus pursuant to
Rule 424(b) under the Act not later than the Commissions close of business on
the second business day following the execution and delivery of this Agreement;
to make no further amendment or any supplement to the Registration Statement or
the Prospectus prior to the last Time of Delivery which shall be reasonably disapproved
by you promptly after reasonable notice thereof; to advise you, promptly after
it receives notice thereof, of the time when any amendment to the Registration
Statement has been filed or becomes effective or any amendment or supplement to
the Prospectus has been filed and to furnish you with copies thereof; to file
promptly all other material required to be filed by the Company with the
Commission pursuant to Rule 433(d) under the Act; to file promptly all reports
and any definitive proxy or information statements required to be filed by the
Company with the Commission pursuant to Section 13(a), 13(c), 14 or 15(d) of
the Exchange Act subsequent to the date of the Prospectus and for so long as
the delivery of a prospectus (or in lieu thereof, the notice referred to in
Rule 173(a) under the Act) is required in connection with the offering or sale
of the Securities; to advise you, promptly after it receives notice thereof, of
the issuance by the Commission of any stop order or of any order preventing or
suspending the use of the Preliminary Prospectus or other prospectus in respect
of the Securities, of any notice of objection of the Commission to the use of
the Registration Statement or any post-effective amendment thereto pursuant to
Rule 401(g)(2) under the Act, of the suspension of the qualification of the Securities
for offering or sale in any jurisdiction, of the initiation or threatening of
any proceeding for any such purpose, or of any request by the Commission for
the amending or supplementing of the Registration Statement or the Prospectus
or for additional information; and, in the event of the issuance of any stop
order or of any order preventing or suspending the use of the Preliminary Prospectus
or other prospectus or suspending any such qualification, to promptly use its reasonable
best efforts to obtain the withdrawal of such order; and in the event of any
such issuance of a notice of objection, promptly to take such steps including,
without limitation, amending the Registration Statement or filing a new
registration statement, at its own expense, as may be necessary to permit
offers and sales of the Securities by the Underwriters (references herein to
the Registration Statement shall include any such amendment or new registration
statement);
12
(b) If required by
Rule 430B(h) under the Act, to prepare a form of prospectus in a form approved
by you and to file such form of prospectus pursuant to Rule 424(b) under the
Act not later than may be required by Rule 424(b) under the Act; and to make no
further amendment or supplement to such form of prospectus which shall be reasonably
disapproved by you promptly after reasonable notice thereof;
(c) Promptly from
time to time to take such action as you may reasonably request to qualify the
Securities for offering and sale
under the securities laws of such jurisdictions as you may request and to
comply with such laws so as to permit the continuance of sales and dealings
therein in such jurisdictions for as long as may be necessary to complete the
distribution of the Securities, provided that in connection therewith the
Company shall not be required to qualify as a foreign corporation or to file a
general consent to service of process in any jurisdiction;
(d) Prior to 10:00
a.m., New York City time, on the New York Business Day next succeeding the date
of this Agreement and from time to time, to furnish the Underwriters with
written and electronic copies of the Prospectus in New York City in such
quantities as you may reasonably request, and, if the delivery of a prospectus
(or in lieu thereof, the notice referred to in Rule 173(a) under the Act) is
required at any time prior to the expiration of nine months after the time of
issue of the Prospectus in connection with the offering or sale of the
Securities and if at such time any event shall have occurred as a result of
which the Prospectus as then amended or supplemented would include an untrue
statement of a material fact or omit to state any material fact necessary in
order to make the statements therein, in the light of the circumstances under
which they were made when such Prospectus (or in lieu thereof, the notice
referred to in Rule 173(a) under the Act) is delivered, not misleading, or, if
for any other reason it shall be necessary during such same period to amend or
supplement the Prospectus or to file under the Exchange Act any document
incorporated by reference in the Prospectus in order to comply with the Act or
the Exchange Act, to notify you and upon your request to file such document and
to prepare and furnish without charge to each Underwriter and to any dealer in
securities as many written and electronic copies as you may from time to time
reasonably request of an amended Prospectus or a supplement to the Prospectus
which will correct such statement or omission or effect such compliance; and in
case any Underwriter is required to deliver a prospectus (or in lieu thereof,
the notice referred to in Rule 173(a) under the Act) in connection with sales
of any of the Securities at any time nine months or more after the time of
issue of the Prospectus, upon your request but at the expense of such
Underwriter, to prepare and deliver to such Underwriter as many written and
electronic copies as you may request of an amended or supplemented Prospectus
complying with Section 10(a)(3) of the Act;
13
(e) To make
generally available to its securityholders as soon as practicable, but in any
event not later than sixteen months after the effective date of the
Registration Statement (as defined in Rule 158(c) under the Act), an earnings
statement of the Company and its subsidiaries (which need not be audited)
complying with Section 11(a) of the Act and the rules and regulations of the
Commission thereunder (including, at the option of the Company, Rule 158);
(f) During the
period beginning from the date hereof and continuing to and including the date 90
days after the date of the Prospectus, not to offer, sell, contract to sell,
pledge, grant any option to purchase, make any short sale or otherwise dispose,
except as provided hereunder, of any securities of the Company that are
substantially similar to the Securities, including but not limited to any
options or warrants to purchase shares of Stock or any securities that are convertible
into or exchangeable for, or that represent the right to receive, Stock or any
such substantially similar securities (other than (i) pursuant to employee incentive
plans existing on the date of this Agreement, (ii) upon the conversion or
exchange of convertible or exchangeable securities outstanding as of the date
of this Agreement, or (iii) in connection with acquisitions made by the
Company, provided that no more
than 5% of the number of shares of Stock then outstanding are issued in
connection with such acquisitions and provided, further that, the recipients
receiving Stock in connection with such acquisitions agree in writing with the
Underwriters to the restrictions of this Section 5(f) and represent to the
Underwriters that they have not transferred to another, in whole or in part,
any economic consequence of ownership of such shares of Stock prior to the
consummation of such acquisition), without your prior written consent and
provided, further that such transfer of Stock does not result in a filing with
the Commission during the 90-day period following the date of the Prospectus;
and
(g) Upon request of
any Underwriter, to furnish, or cause to be furnished, to such Underwriter an
electronic version of the Companys trademarks, servicemarks and corporate logo
for use on the website, if any, operated by such Underwriter for the purpose of
facilitating the on-line offering of the Securities (the License); provided, however, that the License shall
be used solely for the purpose described above, is granted without any fee and
may not be assigned or transferred.
6.
(a) The Company
represents and agrees that, without the prior consent of Goldman, Sachs &
Co., it has not made and will not make any offer relating to the Securities
that would constitute a free writing prospectus as defined in Rule 405 under
the Act; each Underwriter represents and agrees that, without the prior consent
of the Company and Goldman, Sachs & Co., it has not made and will not make
any offer relating to the Securities that would constitute a free writing
prospectus; any such free writing prospectus the use of which has been
14
consented to by the Company and
Goldman, Sachs & Co. is listed on Schedule III(a) hereto;
(b) The Company has
complied and will comply with the requirements of Rule 433 under the Act
applicable to any Issuer Free Writing Prospectus, including timely filing with
the Commission or retention where required and legending; and
(c) The Company
agrees that if at any time following issuance of an Issuer Free Writing
Prospectus any event occurred or occurs as a result of which such Issuer Free
Writing Prospectus would conflict with the information in the Registration
Statement, the Pricing Prospectus or the Prospectus or would include an untrue
statement of a material fact or omit to state any material fact necessary in
order to make the statements therein, in the light of the circumstances then
prevailing, not misleading, the Company will give prompt notice thereof to Goldman,
Sachs & Co. and, if requested by Goldman, Sachs & Co., will prepare and
furnish without charge to each Underwriter an Issuer Free Writing Prospectus or
other document which will correct such conflict, statement or omission;
provided, however, that this covenant shall not apply to any statements or
omissions in an Issuer Free Writing Prospectus made in reliance upon and in
conformity with information furnished in writing to the Company by an
Underwriter through Goldman, Sachs & Co. expressly for use therein or by a
Selling Stockholder expressly for use in the preparation of the third paragraph
of the Issuer Free Writing Prospectus listed on Schedule III(a).
7. The
Company and each of the Selling Stockholders covenant and agree with one another
and with the several Underwriters that the Company will pay or cause to be paid
the following: (i) the fees, disbursements and expenses of the Companys
counsel, one counsel for the Selling Stockholders and the Companys accountants
in connection with the registration of the Securities under the Act and all
other expenses in connection with the preparation, printing, reproduction and
filing of the Registration Statement, the Preliminary Prospectus, any Issuer
Free Writing Prospectus and the Prospectus and amendments and supplements
thereto and the mailing and delivering of copies thereof to the Underwriters
and dealers; (ii) the cost of printing or producing any Agreement among
Underwriters, this Agreement, the Blue Sky Memorandum, closing documents (including
any compilations thereof) and any other documents in connection with the
offering, purchase, sale and delivery of the Securities; (iii) all expenses in
connection with the qualification of the Securities for offering and sale under
state securities laws as provided in Section 5(c) hereof, including the fees
and disbursements of counsel for the Underwriters in connection with such
qualification and in connection with the Blue Sky survey; (iv) all fees and
expenses in connection with listing the Securities on the Exchange; (v) the
cost of preparing the Securities; (vi) the cost and charges of any transfer
agent or registrar; and (vii) all other costs and expenses incident to the
performance of its
15
obligations hereunder which are
not otherwise specifically provided for in this Section. It is understood,
however, that, except as provided in this Section, and Sections 9 and 12
hereof, the Underwriters will pay all of their own costs and expenses, including
the fees of their counsel, transfer taxes on resale of any of the Securities by
them, any advertising expenses connected with any offers they may make, and the lodging and travel expenses of the
Underwriters in connection with the road show (it being understood that as it
relates to chartered aircraft, travel expenses of the Underwriters shall be
determined by the proportion the total representation the Underwriters present
on such aircraft bears to the total number of other offering participants
present on such aircraft). The Selling Stockholders shall pay any
transfer taxes payable in connection with their respective sales of Securities
to the Underwriters.
8. The obligations
of the Underwriters hereunder, as to the Securities to be delivered at each Time
of Delivery, shall be subject, in their discretion, to the condition that all
representations and warranties and other statements of the Company herein are,
at and as of such Time of Delivery, true and correct, in all material respects
with respect to those representations and warranties not already qualified by
materiality, the condition that the Company shall have performed, in all
material respects, all of its obligations hereunder theretofore to be
performed, and the following additional conditions:
(a) The Prospectus
shall have been filed with the Commission pursuant to Rule 424(b) under the Act
within the applicable time period prescribed for such filing by the rules and
regulations under the Act and in accordance with Section 5(a) hereof; all material
required to be filed by the Company pursuant to Rule 433(d) under the Act shall
have been filed with the Commission within the applicable time period
prescribed for such filings by Rule 433; no stop order suspending the
effectiveness of the Registration Statement or any part thereof shall have been
issued and no proceeding for that purpose shall have been initiated or
threatened by the Commission and no notice of objection of the Commission to
the use of the Registration Statement or any post-effective amendment thereto pursuant
to Rule 401(g)(2) under the Act shall have been received; no stop order
suspending or preventing the use of the Prospectus or any Issuer Free Writing
Prospectus shall have been initiated or threatened by the Commission; and all requests
for additional information on the part of the Commission shall have been
complied with to your reasonable satisfaction;
(b) Latham &
Watkins, LLP, counsel for the Underwriters, shall have furnished to you such
written opinion or opinions (a form of each such opinion is attached as Annex
II(a) hereto), dated such Time of Delivery, in form and substance satisfactory
to you, with respect to the matters covered in paragraphs (i), (ii), (vii),
(ix), (xii) and (xiii) of subsection (c) below as well as such other related
matters as you may reasonably request, and such counsel shall have received
16
such papers and information as
they may reasonably request to enable them to pass upon such matters;
(c) Wilson Sonsini
Goodrich & Rosati, counsel for the Company, shall have furnished to you
their written opinion (a draft of such opinion is attached as Annex II(b)
hereto), dated such Time of Delivery, in form and substance reasonably satisfactory
to you.
(d) The respective
counsel for each of the Selling Stockholders, as indicated in Schedule II
hereto, each shall have furnished to you their written opinion with respect to
each of the Selling Stockholders for whom they are acting as counsel (a draft
of each such opinion is attached as Annex II(c) hereto), dated such Time of
Delivery, in form and substance reasonably satisfactory to you.
(e) On the date of
the Prospectus at a time prior to the execution of this Agreement, at 9:30
a.m., New York City time, on the effective date of any post effective amendment
to the Registration Statement filed subsequent to the date of this Agreement
and also at each Time of Delivery, KPMG, LLP shall have furnished to you a
letter or letters, dated the respective dates of delivery thereof, in form and
substance satisfactory to you, to the effect set forth in Annex I hereto (the
executed copy of the letter delivered prior to the execution of this Agreement
is attached as Annex I(a) hereto and a form of letter to be delivered on the
effective date of any post-effective amendment to the Registration Statement,
and as of the Time of Delivery is attached as Annex I(b) hereto);
(f) (i) Neither the
Company nor any of its subsidiaries shall have sustained since the date of the
latest audited financial statements included or incorporated by reference in
the Pricing Prospectus any loss or interference with its business from fire,
explosion, flood or other calamity, whether or not covered by insurance, or
from any labor dispute or court or governmental action, order or decree,
otherwise than as set forth or contemplated in the Pricing Prospectus, and (ii)
since the respective dates as of which information is given in the Pricing
Prospectus there shall not have been any change in the capital stock or long
term debt of the Company or any of its subsidiaries or any change, or any
development involving a prospective change, in or affecting the general
affairs, management, financial position, stockholders equity or results of
operations of the Company and its subsidiaries, otherwise than as set forth or
contemplated in the Pricing Prospectus, the effect of which, in any such case
described in clause (i) or (ii), is in your judgment so material and adverse as
to make it impracticable or inadvisable to proceed with the public offering or
the delivery of the Securities being delivered at such Time of Delivery on the
terms and in the manner contemplated in the Prospectus;
(g) On or after the
Applicable Time (i) no downgrading shall have occurred in the rating accorded
the Companys debt securities by any nationally recognized statistical rating
organization, as that term is defined by the
17
Commission for purposes of Rule
436(g)(2) under the Act, and (ii) no such organization shall have publicly
announced that it has under surveillance or review, with possible negative
implications, its rating of any of the Companys debt securities;
(h) On or after the
Applicable Time there shall not have occurred any of the following: (i) a
suspension or material limitation in trading in securities generally on the New
York Stock Exchange; (ii) a suspension or material limitation in trading in the
Companys securities on New York Stock Exchange; (iii) a general moratorium on
commercial banking activities declared by either Federal or New York State
authorities or a material disruption in commercial banking or securities
settlement or clearance services in the United States; (iv) the outbreak or
escalation of hostilities involving the United States or the declaration by the
United States of a national emergency or war or (v) the occurrence of any other
calamity or crisis or any change in financial, political or economic conditions
in the United States or elsewhere, if the effect of any such event specified in
clause (iv) or (v) in your judgment makes it impracticable or inadvisable to
proceed with the public offering or the delivery of the Securities being delivered
at such Time of Delivery on the terms and in the manner contemplated in the
Prospectus;
(i) The Company has
obtained and delivered to the Underwriters executed copies of an agreement from
all executive officers and directors of the Company, substantially to the
effect set forth in Section 5(f) hereof in form and substance satisfactory to
you; and
(j) The Company and
the Selling Stockholders shall have furnished or caused to be furnished to you
at such Time of Delivery certificates of officers of the Company and the
Selling Stockholders, respectively, reasonably satisfactory to you as to the
accuracy of the representations and warranties, in all material respects with
respect to those representations and warranties not already qualified by
materiality, of the Company and the Selling Stockholders herein at and as of
such time, as to the performance, in all material respects, by the Company and
the Selling Stockholders of all of their respective obligations hereunder to be
performed at or prior to such time, and as to such other matters as you may
reasonably request, and the Company shall have also furnished or caused to be
furnished certificates as to the matters set forth in subsections (a) and (f)
of this Section.
9. (a) The Company will indemnify and hold harmless each Underwriter against any
losses, claims, damages or liabilities, joint or several, to which such
Underwriter may become subject, under the Act or otherwise, insofar as such
losses, claims, damages or liabilities (or actions in respect thereof) arise
out of or are based upon an untrue statement or alleged untrue statement of a
material fact contained in the Registration Statement, the Preliminary
Prospectus, the Pricing Prospectus or the Prospectus, or any amendment or
18
supplement thereto, any Issuer
Free Writing Prospectus or any issuer information filed or required to be
filed pursuant to Rule 433(d) under the Act, or arise out of or are based upon
the omission or alleged omission to state therein a material fact required to
be stated therein or necessary to make the statements therein not misleading,
and will reimburse each Underwriter for any legal or other expenses reasonably
incurred by such Underwriter in connection with investigating or defending any
such action or claim as such expenses are incurred; provided, however, that the
Company shall not be liable in any such case to the extent that any such loss,
claim, damage or liability arises out of or is based upon an untrue statement
or alleged untrue statement or omission or alleged omission made in the
Registration Statement, the Preliminary Prospectus, the Pricing Prospectus or the
Prospectus, or any amendment or supplement thereto, or any Issuer Free Writing
Prospectus, in reliance upon and in conformity with written information
furnished to the Company by any Underwriter through Goldman, Sachs & Co.
expressly for use therein or by a Selling Stockholder expressly for use in the
preparation of the information in the Registration Statement, the Preliminary
Prospectus, the Pricing Prospectus or the Prospectus under the caption Selling
Stockholders and in the preparation of the third paragraph of the Issuer Free
Writing Prospectus listed on Schedule III(a).
(b) Each of the Selling
Stockholders, severally and not jointly, will indemnify and hold harmless each
Underwriter and the Company against any losses, claims, damages or liabilities,
joint or several, to which such Underwriter and the Company may become subject,
under the Act or otherwise, insofar as such losses, claims, damages or
liabilities (or actions in respect thereof) arise out of or are based upon an
untrue statement or alleged untrue statement of a material fact contained in the
Preliminary Prospectus, the Registration Statement, the Prospectus, or any
amendment or supplement thereto, or any Issuer Free Writing Prospectus, or
arise out of or are based upon the omission or alleged omission to state
therein a material fact required to be stated therein or necessary to make the
statements therein not misleading, in each case to the extent, but only to the
extent, that such untrue statement or alleged untrue statement or omission or
alleged omission was made in the Preliminary Prospectus, the Registration
Statement or the Prospectus, or any such amendment or supplement thereto, or
any Issuer Free Writing Prospectus, in reliance upon and in conformity with
written information furnished to the Company by such Selling Stockholder
expressly for use therein; and will reimburse each Underwriter and the Company for
any legal or other expenses reasonably incurred by such Underwriter and the
Company in connection with investigating or defending any such action or claim
as such expenses are incurred; provided, however, that such Selling Stockholder
shall not be liable in any such case to the extent that any such loss, claim,
damage or liability arises out of or is based upon an untrue statement or
alleged untrue statement or omission or alleged omission made in the
Preliminary Prospectus, the Registration Statement or the Prospectus or any
such
19
amendment or supplement in
reliance upon and in conformity with written information furnished to the
Company by any Underwriter through Goldman, Sachs & Co. expressly for use
therein; provided, further, that the liability of such Selling Stockholder
pursuant to this subsection (b) shall not exceed the product of the number of
Securities sold by such Selling Stockholder and the public offering price of
the Securities as set forth in the Prospectus. Such Selling Stockholder shall
not be liable under this Section 9 to any indemnified party regarding any
settlement or compromise or consent to the entry of any judgment with respect
to any pending or threatened claim, action, suit or proceeding in respect of
which indemnification may be sought hereunder (whether or not the indemnified
parties are actual or potential parties to such claim or action) unless such
settlement, compromise or consent is consented to by such Selling Stockholder,
which consent shall not be unreasonably withheld.
(c) Each
Underwriter will indemnify and hold harmless the Company and the Selling
Stockholders against any losses, claims, damages or liabilities to which the
Company or the Selling Stockholders may become subject, under the Act or otherwise,
insofar as such losses, claims, damages or liabilities (or actions in respect
thereof) arise out of or are based upon an untrue statement or alleged untrue
statement of a material fact contained in the Registration Statement, the
Preliminary Prospectus, the Pricing Prospectus or the Prospectus, or any
amendment or supplement thereto, or any Issuer Free Writing Prospectus, or
arise out of or are based upon the omission or alleged omission to state
therein a material fact required to be stated therein or necessary to make the
statements therein not misleading, in each case to the extent, but only to the
extent, that such untrue statement or alleged untrue statement or omission or
alleged omission was made in the Registration Statement, the Preliminary Prospectus,
the Pricing Prospectus or the Prospectus or any such amendment or supplement
thereto, or any Issuer Free Writing Prospectus, in reliance upon and in
conformity with written information furnished to the Company by such
Underwriter through Goldman, Sachs & Co. expressly for use therein; and
will reimburse the Company and the Selling Stockholders for any legal or other
expenses reasonably incurred by the Company or the Selling Stockholders in
connection with investigating or defending any such action or claim as such
expenses are incurred.
(d) Promptly after
receipt by an indemnified party under subsection (a), (b) or (c) above of
notice of the commencement of any action, such indemnified party shall, if a
claim in respect thereof is to be made against the indemnifying party under
such subsection, notify the indemnifying party in writing of the commencement
thereof; provided, the omission so to notify the indemnifying party shall not
relieve the indemnifying party from any liability which it may have to any
indemnified party under subsection (a), (b) and (c) above, as applicable,
except to the extent that it has been materially prejudiced (through the
forfeiture of substantive rights or defenses) by such failure; provided,
further, the omission so
20
to notify the indemnifying
party shall not relieve the indemnifying party from any liability which it may
have to any indemnified party otherwise than under subsection (a), (b) and (c)
above, as applicable. In case any such action shall be brought against any
indemnified party and it notifies the indemnifying party of the commencement
thereof, the indemnifying party shall be entitled to participate therein and,
to the extent that it shall wish, jointly with any other indemnifying party
similarly notified, to assume the defense thereof, with counsel satisfactory to
such indemnified party (who shall not, except with the consent of the
indemnified party, be counsel to the indemnifying party), and, after notice from
the indemnifying party to such indemnified party of its election so to assume
the defense thereof, the indemnifying party shall not be liable to such
indemnified party under such subsection for any legal expenses of other counsel
or any other expenses, in each case subsequently incurred by such indemnified
party, in connection with the defense thereof other than reasonable costs of
investigation. No indemnifying party shall, without the written consent of the
indemnified party, effect any settlement or compromise of, or consent to the
entry of any judgment with respect to, any pending or threatened action, claim,
investigation or proceeding in respect of which indemnification or contribution
may be sought hereunder (whether or not the indemnified party is an actual or
potential party to such action or claim) unless such settlement, compromise or
judgment (i) includes an unconditional release of the indemnified party from
all liability arising out of such action, claim, investigation or proceeding
and (ii) does not include a statement as to or an admission of fault,
culpability or any failure to act, by or on behalf of any indemnified party.
(e) If the
indemnification provided for in this Section 9 is unavailable to or
insufficient to hold harmless an indemnified party under subsection (a), (b) or
(c) above in respect of any losses, claims, damages or liabilities (or actions
in respect thereof) referred to therein, then each indemnifying party shall
contribute to the aggregate amount paid or payable by such indemnified party as
a result of such losses, claims, damages or liabilities (or actions in respect
thereof) in such proportion as is appropriate to reflect the relative benefits
received by the Company and Selling Stockholders on the one hand and the Underwriters
on the other from the offering of the Securities. If, however, the allocation
provided by the immediately preceding sentence is not permitted by applicable
law or if the indemnified party failed to give the notice required under
subsection (d) above, then each indemnifying party shall contribute to
such amount paid or payable by such indemnified party in such proportion as is
appropriate to reflect not only the relative benefits referenced above but also
the relative fault of the Company and Selling Stockholders on the one hand and
the Underwriters on the other in connection with the statements or omissions
which resulted in such losses, claims, damages or liabilities (or actions in
respect thereof), as well as any other relevant equitable considerations. The
relative benefits received by the Company and Selling Stockholders on the one
hand and the Underwriters on the other shall be deemed to be in the same
proportion as (x) the total net proceeds from the
21
offering (before deducting
expenses) received by the Company and the Selling Stockholders bears to (y) the
total underwriting discounts and commissions received by the Underwriters, in
each case as set forth in the table on the cover page of the Prospectus. The
relative fault of the Company, the Selling Stockholders and the Underwriters shall
be determined by reference to, among other things, whether the untrue or
alleged untrue statement of a material fact or the omission or alleged omission
to state a material fact relates to information supplied by the Company or the
Selling Stockholders on the one hand or the Underwriters on the other and the
parties relative intent, knowledge, access to information and opportunity to
correct or prevent such statement or omission. The Company, the Selling
Stockholders and the Underwriters agree that it would not be just and equitable
if contribution pursuant to this subsection (e) were determined by pro rata
allocation (even if the Underwriters were treated as one entity for such
purpose) or by any other method of allocation which does not take account of
the equitable considerations referred to above in this subsection (e). The
amount paid or payable by an indemnified party as a result of the losses,
claims, damages or liabilities (or actions in respect thereof) referred to
above in this subsection (e) shall be deemed to include any legal or other
expenses reasonably incurred by such indemnified party in connection with
investigating or defending any such action or claim. Notwithstanding the
provisions of this subsection (e), no Underwriter shall be required to
contribute any amount in excess of the amount by which the total price at which
the Securities underwritten by it and distributed to the public were offered to
the public exceeds the amount of any damages which such Underwriter has
otherwise been required to pay by reason of such untrue or alleged untrue
statement or omission or alleged omission. No person guilty of fraudulent
misrepresentation (within the meaning of Section 11(f) of the Act) shall be
entitled to contribution from any person who was not guilty of such fraudulent
misrepresentation. The Underwriters obligations in this subsection (e) to
contribute are several in proportion to their respective underwriting
obligations and not joint.
(f) The obligations
of the Company and the Selling Stockholders under this Section 9 shall be in
addition to any liability which the Company and the Selling Stockholders may
otherwise have and shall extend, upon the same terms and conditions, to each
person, if any, who controls any Underwriter within the meaning of the Act and
each broker-dealer affiliate of any Underwriter; and the obligations of the
Underwriters under this Section 9 shall be in addition to any liability which
the respective Underwriters may otherwise have and shall extend, upon the same
terms and conditions, to each officer and director of the Company and to each
person, if any, who controls the Company or any Selling Stockholders within the
meaning of the Act.
10. (a) If any Underwriter shall default in its
obligation to purchase the Securities which it has agreed to purchase hereunder
at a Time of Delivery, you may in your discretion arrange for you or another
party or other parties to
22
purchase such Securities on the
terms contained herein. If within thirty six hours after such default by any Underwriter
you do not arrange for the purchase of such Securities, then the Company and
the Selling Stockholders shall be entitled to a further period of thirty six
hours within which to procure another party or other parties satisfactory to
you to purchase such Securities on such terms. In the event that, within the
respective prescribed periods, you notify the Selling Stockholders that you
have so arranged for the purchase of such Securities, or the Company or the Selling
Stockholders notify you that it has so arranged for the purchase of such
Securities, you or the Selling Stockholders shall have the right to postpone
such Time of Delivery for a period of not more than seven days, in order to
effect whatever changes may thereby be made necessary in the Registration
Statement or the Prospectus, or in any other documents or arrangements, and the
Company agrees to file promptly any amendments or supplements to the
Registration Statement or the Prospectus which in your opinion may thereby be
made necessary. The term Underwriter as used in this Agreement shall include
any person substituted under this Section with like effect as if such person
had originally been a party to this Agreement with respect to such Securities.
(b) If, after
giving effect to any arrangements for the purchase of the Securities of a
defaulting Underwriter or Underwriters by you and the Selling Stockholders as
provided in subsection (a) above, the aggregate number of such Securities which
remains unpurchased does not exceed one eleventh of the aggregate number of all
the Securities to be purchased at such Time of Delivery, then the Selling
Stockholders shall have the right to require each non-defaulting Underwriter to
purchase the number of shares which such Underwriter agreed to purchase
hereunder at such Time of Delivery and, in addition, to require each non-defaulting
Underwriter to purchase its pro rata share (based on the number of Securities
which such Underwriter agreed to purchase hereunder) of the Securities of such
defaulting Underwriter or Underwriters for which such arrangements have not
been made; but nothing herein shall relieve a defaulting Underwriter from
liability for its default.
(c) If, after
giving effect to any arrangements for the purchase of the Securities of a
defaulting Underwriter or Underwriters by you and the Selling Stockholders as
provided in subsection (a) above, the aggregate number of such Securities which
remains unpurchased exceeds one eleventh of the aggregate number of all the
Securities to be purchased at such Time of Delivery, or if the Selling
Stockholders shall not exercise the right described in subsection (b) above to
require non-defaulting Underwriters to purchase Securities of a defaulting
Underwriter or Underwriters, then this Agreement (or, with respect to the
Second Time of Delivery, the obligations of the Underwriters to purchase and of
the Selling Stockholders to sell the Optional Securities) shall thereupon
terminate, without liability on the part of any non-defaulting Underwriter or
the Company or the Selling Stockholders, except for the expenses to be borne by
the Company and
23
the Selling Stockholders and
the Underwriters as provided in Section 7 hereof and the indemnity and
contribution agreements in Section 9 hereof; but nothing herein shall relieve a
defaulting Underwriter from liability for its default.
11. The
respective indemnities, agreements, representations, warranties and other
statements of the Company, the Selling Stockholders and the several
Underwriters, as set forth in this Agreement or made by or on behalf of them,
respectively, pursuant to this Agreement, shall remain in full force and
effect, regardless of any investigation (or any statement as to the results
thereof) made by or on behalf of any Underwriter or any controlling person of
any Underwriter, or the Company, or any Selling Stockholder or any officer or
director or controlling person of the Company, or any controlling person of any
Selling Stockholder, and shall survive delivery of and payment for the
Securities.
12. If this
Agreement shall be terminated pursuant to Section 10 hereof, neither the
Company nor the Selling Stockholders shall then be under any liability to any
Underwriter except as provided in Sections 7 and 9 hereof; but, if for any
other reason, any Securities are not delivered by or on behalf of the Selling
Stockholders as provided herein, each of the Selling Stockholders who failed to
deliver such Securities to be sold hereunder will reimburse the Underwriters
through you for all out of pocket expenses approved in writing by you,
including fees and disbursements of counsel, reasonably incurred by the
Underwriters in making preparations for the purchase, sale and delivery of the
Securities not so delivered by such Selling Stockholder, but the Company and
the Selling Stockholders shall then be under no further liability to any
Underwriter in respect of the Securities not so delivered except as provided in
Sections 7 and 9 hereof.
13. In all
dealings hereunder, you shall act on behalf of each of the Underwriters, and
the parties hereto shall be entitled to act and rely upon any statement,
request, notice or agreement on behalf of any Underwriter made or given by you
jointly or by Goldman, Sachs & Co. on behalf of you as the representatives.
All statements, requests,
notices and agreements hereunder shall be in writing, and if to the
Underwriters shall be delivered or sent by mail, telex or facsimile
transmission to you as the representatives in care of Goldman, Sachs & Co.,
One New York Plaza, 42nd Floor, New York, New York 10004, Attention:
Registration Department, J.P. Morgan Securities Inc. 277 Park Avenue, 9th
Floor, New York New York 10172, Attention: Equity Syndicate Desk (Facsimile:
212-622-8358), Lehman Brothers Inc. 745 Seventh Avenue, New York, New York
10019, Attention: Syndicate Registration (Facsimile: 646-834-8133), with a
copy, in the case of any notice pursuant to Section 9(d), to the Director of
Litigation, Office of the General Counsel, Lehman Brothers Inc., 399 Park
Avenue, 10th Floor, New York, New York 10022 (Facsimile: 212-520-0421); and if to the Selling
Stockholders shall be delivered or sent by mail, telex or facsimile
24
transmission to Silver Lake
Partners, L.P., 2725 Sand Hill Road, Suite 150, Menlo Park, California 94025,
Attention: Karen King, Esq.; and if to the Company shall be delivered or sent
by mail, telex or facsimile transmission to the address of the Company set
forth in the Registration Statement, Attention: Secretary; provided, however,
that any notice to an Underwriter pursuant to Section 9(c) hereof shall be
delivered or sent by mail, telex or facsimile transmission to such Underwriter
at its address set forth in its Underwriters Questionnaire, or telex
constituting such Questionnaire, which address will be supplied to the Company or
the Selling Stockholders by you upon request. Any such statements, requests,
notices or agreements shall take effect upon receipt thereof.
14. This
Agreement shall be binding upon, and inure solely to the benefit of, the
Underwriters, the Company and the Selling Stockholders and, to the extent
provided in Sections 9 and 11 hereof, the officers and directors of the Company
and each person who controls the Company, the Selling Stockholders or any
Underwriter, and their respective heirs, executors, administrators, successors
and assigns, and no other person shall acquire or have any right under or by
virtue of this Agreement. No purchaser of any of the Securities from any
Underwriter shall be deemed a successor or assign by reason merely of such
purchase.
15. Time
shall be of the essence of this Agreement. As used herein, the term business
day shall mean any day when the Commissions office in Washington, D.C. is
open for business.
16. The
Company and the Selling Stockholders acknowledge and agree that (i) the
purchase and sale of the Securities pursuant to this Agreement is an arms-length
commercial transaction between the Company and the Selling Stockholders, on the
one hand, and the several Underwriters, on the other, (ii) in connection
therewith and with the process leading to such transaction each Underwriter is
acting solely as a principal and not the agent or fiduciary of the Company or
the Selling Stockholders, (iii) no Underwriter has assumed an advisory or
fiduciary responsibility in favor of the Company or the Selling Stockholders with
respect to the offering contemplated hereby or the process leading thereto
(irrespective of whether such Underwriter has advised or is currently advising
the Company or the Selling Stockholders on other matters) or any other
obligation to the Company or the Selling Stockholders except the obligations
expressly set forth in this Agreement and (iv) the Company and the Selling
Stockholders have consulted its own legal and financial advisors to the extent
it deemed appropriate. The Company and the Selling Stockholders agree that they
will not claim that the Underwriters, or any of them, has rendered advisory
services of any nature or respect, or owes a fiduciary or similar duty to the
Company or the Selling Stockholders, in connection with such transaction or the
process leading thereto.
25
17. This
Agreement supersedes all prior agreements and understandings (whether written
or oral) between the Company, the Selling Stockholders and the Underwriters, or
any of them, with respect to the subject matter hereof.
18. This Agreement shall be governed by and construed in
accordance with the laws of the State of New York.
19. The
Company, the Selling Stockholders and each of the Underwriters hereby
irrevocably waives, to the fullest extent permitted by applicable law, any and
all right to trial by jury in any legal proceeding arising out of or relating
to this Agreement or the transactions contemplated hereby.
20. This
Agreement may be executed by any one or more of the parties hereto in any
number of counterparts, each of which shall be deemed to be an original, but
all such respective counterparts shall together constitute one and the same
instrument.
21. Notwithstanding
anything herein to the contrary, the Company and the Selling Stockholders are authorized
to disclose to any persons the U.S. federal and state income tax treatment and
tax structure of the potential transaction and all materials of any kind (including
tax opinions and other tax analyses) provided to the Company and the Selling
Stockholders relating to that treatment and structure, without the Underwriters
imposing any limitation of any kind. However, any information relating to the
tax treatment and tax structure shall remain confidential (and the foregoing
sentence shall not apply) to the extent necessary to enable any person to
comply with securities laws. For this purpose, tax structure is limited to
any facts that may be relevant to that treatment.
26
If the foregoing is in
accordance with your understanding, please sign and return to us one for the
Company and each of the Representatives plus one for each counsel counterparts
hereof, and upon the acceptance hereof by you, on behalf of each of the
Underwriters, this letter and such acceptance hereof shall constitute a binding
agreement between each of the Underwriters, the Company and each of the Selling
Stockholders. It is understood that your acceptance of this letter on behalf of
each of the Underwriters is pursuant to the authority set forth in a form of
Agreement among Underwriters, the form of which shall be submitted to the
Company and the Selling Stockholders for examination upon request, but without
warranty on your part as to the authority of the signers thereof.
|
Very truly yours,
|
|
|
|
|
|
Gartner, Inc.
|
|
|
|
|
|
By:
|
/s/ CHRISTOPHER J. LAFOND
|
|
|
Name: Christopher J.
LaFond
|
|
|
Title: Executive Vice
President and Chief Financial Officer
|
|
|
|
|
|
Silver Lake Partners, L.P.
|
|
|
|
|
|
|
By:
|
Silver Lake Technology Associates,
|
|
|
|
L.L.C., its General Partner
|
|
|
|
|
|
|
By:
|
/s/ MICHAEL J. BINGLE
|
|
|
|
Name: Michael J. Bingle
|
|
|
|
Title: Managing Director
|
|
|
|
|
|
|
Silver Lake Investors, L.P.
|
|
|
|
|
|
|
By:
|
Silver Lake Technology Associates,
|
|
|
|
L.L.C., its General Partner
|
|
|
|
|
|
|
By:
|
/s/ MICHAEL J. BINGLE
|
|
|
|
Name: Michael J. Bingle
|
|
|
|
Title: Managing Director
|
|
|
|
|
|
|
Silver Lake Technology
Investors, L.L.C.
|
|
|
|
|
|
|
By:
|
Silver Lake Technology Management,
|
|
|
|
L.L.C., its Manager
|
|
|
|
|
|
|
By:
|
/s/ MICHAEL J. BINGLE
|
|
|
|
Name: Michael J. Bingle
|
|
|
|
Title: Managing Director
|
|
27
Accepted
as of the date hereof:
|
|
|
|
Goldman,
Sachs & Co.
|
|
J.P.
Morgan Securities Inc.
|
|
Lehman
Brothers Inc.
|
|
|
|
On
behalf of each of the underwriters
|
|
|
Goldman,
Sachs & Co.
|
|
|
|
/s/ GOLDMAN,
SACHS & CO.
|
|
(Goldman, Sachs & Co.)
|
|
|
|
|
|
JP
Morgan Securities Inc.
|
|
|
|
/s/ BILL
CONTENTE
|
|
Name: Bill Contente
|
|
Title:
Managing Director
|
|
|
|
|
|
Lehman
Brothers Inc.
|
|
|
|
/s/ MARK
SCHWARTZ
|
|
Name: Mark Schwartz
|
|
Title:
Vice President
|
|
28
SCHEDULE I
Underwriter
|
|
Total Number
of Firm
Securities to
be
Purchased
|
|
Number of
Optional
Securities to be
Purchased if
Maximum Option
Exercised
|
|
Goldman, Sachs & Co.
|
|
2,850,000
|
|
427,500
|
|
J.P. Morgan Securities Inc.
|
|
2,137,500
|
|
320,625
|
|
Lehman Brothers Inc.
|
|
2,137,500
|
|
320,625
|
|
Banc of America Securities LLC
|
|
1,187,500
|
|
178,125
|
|
Credit Suisse Securities (USA) LLC
|
|
1,187,500
|
|
178,125
|
|
Total
|
|
9,500,000
|
|
1,425,000
|
|
29
SCHEDULE II
|
|
|
|
Number of
|
|
|
|
|
|
Optional
|
|
|
|
|
|
Shares to be
|
|
|
|
Total Number of
|
|
Sold if
|
|
|
|
Firm Shares
|
|
Maximum Option
|
|
|
|
to be Sold
|
|
Exercised
|
|
The Selling Stockholders (a):
|
|
|
|
|
|
Silver Lake Partners, L.P.
|
|
8,748,606
|
|
1,312,291
|
|
Silver Lake Investors, L.P.
|
|
251,394
|
|
37,709
|
|
Silver Lake Technology
Investors, L.L.C.
|
|
500,000
|
|
75,000
|
|
Total
|
|
9,500,000
|
|
1,425,000
|
|
(a) The
Selling Stockholders are represented by Simpson Thacher & Bartlett LLP, 425
Lexington Avenue, New York, New York 10017, Attention: Richard Fenyes.
30
SCHEDULE III
(a) Issuer Free
Writing Prospectuses:
Issuer Free
Writing Prospectus filed with the Commission on May 9, 2006 (File No.
333-133914);
Electronic
Road-Show
(b) Additional
Documents Incorporated by Reference:
None.
31
SCHEDULE IV
Pricing Information
Price
to Public: $14.75
Number
of Firm Securities: 9,500,000
Number
of Optional Securities: 1,425,000
32
ANNEX I(a)
Pursuant to Section 8(d) of
the Underwriting Agreement, the accountants shall furnish letters to the
Underwriters to the effect that:
(i) They are independent certified public
accountants with respect to the Company and its subsidiaries within the meaning
of the Act and the applicable published rules and regulations thereunder;
(ii) In their opinion, the financial statements
and any supplementary financial information and schedules (and, if applicable,
prospective financial statements and/or pro forma financial information)
examined by them and included or incorporated by reference in the Registration
Statement or the Prospectus comply as to form in all material respects with the
applicable accounting requirements of the Act or the Exchange Act, as
applicable, and the related published rules and regulations thereunder; and, if
applicable, they have made a review in accordance with standards established by
the American Institute of Certified Public Accountants of the consolidated
interim financial statements, selected financial data, pro forma financial
information, prospective financial statements and/or condensed financial
statements derived from audited financial statements of the Company for the
periods specified in such letter, as indicated in their reports thereon, copies
of which have been furnished to the representatives of the Underwriters (the Representatives)
and are attached hereto;
(iii) They have made a review in accordance with
standards established by the American Institute of Certified Public Accountants
of the unaudited condensed consolidated statement of income, consolidated
balance sheets and consolidated statements of cash flows included in the
Prospectus and/or included in the Companys quarterly report on Form 10-Q
incorporated by reference into the Prospectus as indicated in their reports
thereon copies of which are attached hereto; and on the basis of specified
procedures including inquiries of officials of the Company who have
responsibility for financial and accounting matters regarding whether the
unaudited condensed consolidated financial statements referred to in paragraph
(vi)(A)(i) below comply as to form in the related in all material respects with
the applicable accounting requirements of the Act and the Exchange Act and the
related published rules and regulations, nothing came to their attention that
caused them to believe that the unaudited condensed consolidated financial
statements do not comply as to form in all material respects with the
applicable accounting requirements of the Act and the Exchange Act and the
related published rules and regulations;
(iv) The unaudited selected financial information
with respect to the consolidated results of operations and financial position
of the
Company
for the five most recent fiscal years included in the Prospectus and included
or incorporated by reference in Item 6 of the Companys Annual Report on Form
10-K for the most recent fiscal year agrees with the corresponding amounts
(after restatement where applicable) in the audited consolidated financial
statements for such five fiscal years which were included or incorporated by
reference in the Companys Annual Reports on Form 10-K for such fiscal years;
(v) They have compared the information in the
Prospectus under selected captions with the disclosure requirements of
Regulation S-K and on the basis of limited procedures specified in such letter
nothing came to their attention as a result of the foregoing procedures that
caused them to believe that this information does not conform in all material
respects with the disclosure requirements of Item S-301, 302, 402 and 503(d),
respectively, of Regulation S-K;
(vi) On the basis of limited procedures, not
constituting an examination in accordance with generally accepted auditing
standards, consisting of a reading of the unaudited financial statements and
other information referred to below, a reading of the latest available interim
financial statements of the Company and its subsidiaries, inspection of the
minute books of the Company and its subsidiaries since the date of the latest
audited financial statements included or incorporated by reference in the
Prospectus, inquiries of officials of the Company and its subsidiaries
responsible for financial and accounting matters and such other inquiries and
procedures as may be specified in such letter, nothing came to their attention
that caused them to believe that:
(A) (i) the unaudited condensed consolidated
statements of income, consolidated balance sheets and consolidated statements
of cash flows included in the Prospectus and/or included or incorporated by
reference in the Companys Quarterly Reports on Form 10-Q incorporated by
reference in the Prospectus do not comply as to form in all material respects
with the applicable accounting requirements of the Exchange Act and the related
published rules and regulations, or (ii) any material modifications should be
made to the unaudited consolidated statements of income, consolidated balance
sheets and consolidated statements of cash flows included or incorporated by
reference in the Companys Quarterly Reports on Form 10-Q incorporated by
reference in the Prospectus, for them to be in conformity with generally
accepted accounting principles;
(B) any other unaudited income statement data and
balance sheet items included in the Prospectus do not agree with the
corresponding items in the unaudited consolidated financial
statements from which such data and items were derived, and any such
unaudited data and items were not determined on a basis substantially
consistent with the basis for the corresponding amounts in the audited
consolidated financial statements included or incorporated by reference in the
Companys Annual Report on Form 10-K for the most recent fiscal year;
(C) the unaudited financial statements which were
not included in the Prospectus but from which were derived the unaudited
condensed financial statements referred to in clause (A) and any unaudited
income statement data and balance sheet items included in the Prospectus and
referred to in clause (B) were not determined on a basis substantially
consistent with the basis for the audited financial statements included or
incorporated by reference in the Companys Annual Report on Form 10-K for the
most recent fiscal year;
(D) any unaudited pro forma consolidated
condensed financial statements included or incorporated by reference in the
Prospectus do not comply as to form in all material respects with the
applicable accounting requirements of the Act and the published rules and
regulations thereunder or the pro forma adjustments have not been properly
applied to the historical amounts in the compilation of those statements;
(E) as of a specified date not more than five
days prior to the date of such letter, there have been any changes in the
consolidated capital stock (other than issuances of capital stock upon exercise
of options and stock appreciation rights, upon earn outs of performance shares
and upon conversions of convertible securities, in each case which were
outstanding on the date of the latest balance sheet included or incorporated by
reference in the Prospectus) or any increase in the consolidated long term debt
of the Company and its subsidiaries, or any decreases in consolidated net
current assets or stockholders equity or other items specified by the
Representatives, or any increases in any items specified by the
Representatives, in each case as compared with amounts shown in the latest
balance sheet included or incorporated by reference in the Prospectus, except
in each case for changes, increases or decreases which the Prospectus discloses
have occurred or may occur or which are described in such letter; and
(F) for the period from the date of the latest
financial statements included or incorporated by reference in the Prospectus to
the specified date referred to in clause (E) there were any decreases in
consolidated net revenues or operating profit or the
total or per share amounts of consolidated net income or other items
specified by the Representatives, or any increases in any items specified by
the Representatives, in each case as compared with the comparable period of the
preceding year and with any other period of corresponding length specified by
the Representatives, except in each case for increases or decreases which the
Prospectus discloses have occurred or may occur or which are described in such
letter; and
(vii) In addition to the examination referred to in
their report(s) included or incorporated by reference in the Prospectus and the
limited procedures, inspection of minute books, inquiries and other procedures
referred to in paragraphs (iii) and (vi) above, they have carried out certain
specified procedures, not constituting an examination in accordance with
generally accepted auditing standards, with respect to certain amounts,
percentages and financial information specified by the Representatives which
are derived from the general accounting records of the Company and its
subsidiaries, which appear in the Prospectus (excluding documents incorporated
by reference) or in Part II of, or in exhibits and schedules to, the
Registration Statement specified by the Representatives or in documents
incorporated by reference in the Prospectus specified by the Representatives,
and have compared certain of such amounts, percentages and financial
information with the accounting records of the Company and its subsidiaries and
have found them to be in agreement.
ANNEX I(b)
[BRING DOWN
COMFORT LETTER]
ANNEX II(a)
[UW COUNSEL
OPINION]
ANNEX II(b)
[COMPANY
COUNSEL OPINION]
ANNEX II(c)
[SELLING
SHAREHOLDER OPINION]
Exhibit 99.1
Contacts
Lisa
Nadler (lisa.nadler@gartner.com)
203-316-6537
GARTNER
ANNOUNCES PRICING OF SECONDARY OFFERING OF
COMMON STOCK BY SILVER LAKE PARTNERS
STAMFORD, Conn. May 19, 2006 Gartner, Inc. (NYSE: IT), a leading
provider of research and analysis on the global information technology
industry, announced today that the secondary offering of 9,500,000 shares of its
common stock priced at $14.75 per share.
All of the shares of common stock are being offered and sold by Silver
Lake Partners, L.P. and its affiliates.
Silver Lake may sell an additional 1,425,000 shares if the underwriters
exercise their option to purchase additional shares of common stock in the next
thirty days. Gartner will not receive
any proceeds from the sale of the shares of common stock in the offering.
Goldman, Sachs &
Co., JPMorgan and Lehman Brothers are acting as joint book-running managers,
and Banc of America Securities LLC and Credit Suisse Securities (USA) LLC are
serving as co-managers, for the offering.
About
Gartner
Gartner, Inc.
(NYSE: IT) delivers the technology-related insight necessary for its clients to
make the right decisions, every day. Gartner serves 10,000 organizations,
including chief information officers and other senior IT executives in corporations
and government agencies, as well as technology companies and the investment
community. The Company consists of Gartner Research, Gartner Executive
Programs, Gartner Consulting and Gartner Events. Founded in 1979, Gartner is
headquartered in Stamford, Connecticut, U.S.A., and has 3,700 associates,
including approximately 650 analysts and 500 consultants in 75 countries
worldwide.
This press release is neither an
offer to sell nor the solicitation of an offer to buy the common stock, and
shall not constitute an offer, solicitation or sale in any jurisdiction in
which such an offer, solicitation or sale is unlawful. Any offers of the common
stock will be made only by means of a prospectus, copies of which may be
obtained by calling Goldman, Sachs & Co. toll-free at 1-866-471-2526,
JPMorgan toll-free at 1-866-430-0686 or Lehman Brothers via facsimile at
1-631-254-7268.
2