US Airways 2010 Annual Report Download - page 27

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Table of Contents
or representative of such person or entity (a "non-citizen"), shall not own (beneficially or of record) and/or control more than (a) 24.9% of
the aggregate votes of all of our outstanding equity securities (as defined, which definition includes our capital stock, securities
convertible into or exchangeable for shares of our capital stock, including our outstanding convertible notes, and any options, warrants or
other rights to acquire capital stock) (the "voting cap amount") or (b) 49.9% of our outstanding equity securities (the "absolute cap
amount"). If non-citizens nonetheless at any time own and/or control more than the voting cap amount, the voting rights of the equity
securities in excess of the voting cap amount shall be automatically suspended in accordance with the provisions of our bylaws. Voting
rights of equity securities, if any, owned (beneficially or of record) by non-citizens shall be suspended in reverse chronological order
based upon the date of registration in the foreign stock record. Further, if at any time a transfer of equity securities to a non-citizen would
result in non-citizens owning more than the absolute cap amount, such transfer shall be void and of no effect, in accordance with
provisions of our bylaws. Certificates for our equity securities must bear a legend set forth in our amended and restated certificate of
incorporation stating that such equity securities are subject to the foregoing restrictions. Under our bylaws, it is the duty of each
stockholder who is a non-citizen to register his, her or its equity securities on our foreign stock record. In addition, our bylaws provide
that in the event that non-citizens shall own (beneficially or of record) or have voting control over any equity securities, the voting rights
of such persons shall be subject to automatic suspension to the extent required to ensure that we are in compliance with applicable
provisions of law and regulations relating to ownership or control of a United States air carrier. In the event that we determine that the
equity securities registered on the foreign stock record or the stock records of the Company exceed the absolute cap amount, sufficient
shares shall be removed from the foreign stock record and the stock records of the Company so that the number of shares entered therein
does not exceed the absolute cap amount. Shares of equity securities shall be removed from the foreign stock record and the stock records
of the Company in reverse chronological order based on the date of registration in the foreign stock record and the stock records of the
Company.
Item 1B. Unresolved Staff Comments
None.
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