-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, MnH3uM6n9qkA0GlUccTGrGV0KwIhR3je0KMd+k1Be6SFaWfH3D3Pc8w9Tw5JEqJq lxQtweOrSAxha96PsdLXOA== 0001341004-08-001748.txt : 20080801 0001341004-08-001748.hdr.sgml : 20080801 20080801165417 ACCESSION NUMBER: 0001341004-08-001748 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 4 FILED AS OF DATE: 20080801 DATE AS OF CHANGE: 20080801 GROUP MEMBERS: ARCLIGHT CAPITAL HOLDINGS, LLC GROUP MEMBERS: ARCLIGHT ENERGY PARTNERS FUND II, L.P. GROUP MEMBERS: ARCLIGHT PEF GP II, LLC GROUP MEMBERS: ARCLIGHT PEF GP, LLC GROUP MEMBERS: B. SCOTT SPEARS GROUP MEMBERS: CAISSE DE D?P?T ET PLACEMENT DU QU?BEC GROUP MEMBERS: CASCADE INVESTMENT, L.L.C. GROUP MEMBERS: CITIGROUP ALTERNATIVE INVESTMENTS LLC GROUP MEMBERS: CITIGROUP CAPITAL PARTNERS II 2006 CITIGROUP INVESTMENT, L.P GROUP MEMBERS: CITIGROUP CAPITAL PARTNERS II CAYMAN HOLDINGS, L.P. GROUP MEMBERS: CITIGROUP CAPITAL PARTNERS II EMPLOYEE MASTER FUND, L.P. GROUP MEMBERS: CITIGROUP CAPITAL PARTNERS II ONSHORE, L.P. GROUP MEMBERS: CITIGROUP INC. GROUP MEMBERS: CITIGROUP INVESTMENTS INC. GROUP MEMBERS: CITIGROUP PRIVATE EQUITY LP GROUP MEMBERS: DANIEL R. REVERS GROUP MEMBERS: DAVID TURNBULL GROUP MEMBERS: DWAYNE FRANCISCO GROUP MEMBERS: HOWARD HUGHES MEDICAL INSTITUTE GROUP MEMBERS: JOHN F. ERHARD GROUP MEMBERS: KEITH ST. CLAIR GROUP MEMBERS: PAUL VINING GROUP MEMBERS: RICHARD VERHEIJ GROUP MEMBERS: ROBB E. TURNER GROUP MEMBERS: ROBERT BENNETT GROUP MEMBERS: THE BOARD OF TRUSTEES OF THE LELAND STANFORD JUNIOR UNIVERSI GROUP MEMBERS: THE NORTHWESTERN MUTUAL LIFE INSURANCE COMPANY GROUP MEMBERS: TIMOTHY ELLIOTT GROUP MEMBERS: TOM MCQUADE GROUP MEMBERS: WILLIAM H. GATES III FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: ARCLIGHT ENERGY PARTNERS FUND I LP CENTRAL INDEX KEY: 0001140654 FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: 200 CLARENDON STREET STREET 2: 21ST FLOOR CITY: BOSTON STATE: MA ZIP: 02117 BUSINESS PHONE: 617-867-96 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Patriot Coal CORP CENTRAL INDEX KEY: 0001376812 STANDARD INDUSTRIAL CLASSIFICATION: BITUMINOUS COAL & LIGNITE MINING [1220] IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D SEC ACT: 1934 Act SEC FILE NUMBER: 005-83427 FILM NUMBER: 08985708 BUSINESS ADDRESS: STREET 1: 12312 OLIVE BOULEVARD STREET 2: SUITE 400 CITY: ST. LOUIS STATE: MO ZIP: 63141 BUSINESS PHONE: 314-275-3600 MAIL ADDRESS: STREET 1: 12312 OLIVE BOULEVARD STREET 2: SUITE 400 CITY: ST. LOUIS STATE: MO ZIP: 63141 FORMER COMPANY: FORMER CONFORMED NAME: Eastern Coal Holding Company, Inc. DATE OF NAME CHANGE: 20060928 SC 13D 1 sc13d.htm SCHEDULE 13D Unassociated Document
 
WASHINGTON, D.C.  20549
 
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. ___)1
 
Patriot Coal Corporation
(Name of Issuer)
 
Common Stock, $0.01 par value per share
(Title of Class of Securities)
 
70336T 10 4
(CUSIP Number)
 
John A. Tisdale, Esq.
General Counsel
ArcLight Capital Partners, LLC
200 Clarendon Street, 55th Floor
Boston, MA 02117
Telephone: (617) 531−6300
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
 
 
 
July 23, 2008
(Date of Event which Requires Filing of this Statement)
 
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 13d-1(f) or
240.13d-1(g), check the following box [  ].
 
Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7 for other parties to whom copies are to be sent.
 
1 The remainder of this cover page shall be filled out for a reporting person’s initial filling on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.
 
The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended (the "Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 
 

 
 
SCHEDULE 13D
 
CUSIP No. 70336T 10 4
 
Page     2     of     90     Pages
     
1
NAME OF REPORTING PERSON
 
ArcLight Energy Partners Fund I, L.P.
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
 
 
(a)
(b) ý
3
SEC USE ONLY
 
 
4
SOURCE OF FUNDS (See Instructions)
 
OO
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
Delaware
 
NUMBER OF
 
SHARES
7
SOLE VOTING POWER
 
 
 
BENEFICIALLY
 
OWNED BY
8
SHARED VOTING POWER
3,664,357
 
 
EACH
 
REPORTING
9
SOLE DISPOSITIVE POWER
 
 
 
PERSON
 
WITH
10
SHARED DISPOSITIVE POWER
3,664,357
 
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,664,357
 
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions)
 
 
ý
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.5%
 
14
TYPE OF REPORTING PERSON (See Instructions)
 
PN

 
 

 
 
SCHEDULE 13D
 
CUSIP No. 70336T 10 4
 
Page     3     of     90     Pages
     
1
NAME OF REPORTING PERSON
 
ArcLight Energy Partners Fund II, L.P.
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
 
 
(a)
(b) ý
3
SEC USE ONLY
 
 
4
SOURCE OF FUNDS (See Instructions)
 
OO
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
Delaware
 
NUMBER OF
 
SHARES
7
SOLE VOTING POWER
 
 
 
BENEFICIALLY
 
OWNED BY
8
SHARED VOTING POWER
2,934,305
 
 
EACH
 
REPORTING
9
SOLE DISPOSITIVE POWER
 
 
 
PERSON
 
WITH
10
SHARED DISPOSITIVE POWER
2,934,305
 
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,934,305
 
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions)
 
 
ý
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.6%
 
14
TYPE OF REPORTING PERSON (See Instructions)
 
PN
 
 
 

 
 
SCHEDULE 13D
 
CUSIP No. 70336T 10 4
 
Page     4     of     90     Pages
     
1
NAME OF REPORTING PERSON
 
ArcLight PEF GP, LLC
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
 
 
(a)
(b) ý
3
SEC USE ONLY
 
 
4
SOURCE OF FUNDS (See Instructions)
 
OO
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
Delaware
 
NUMBER OF
 
SHARES
7
SOLE VOTING POWER
 
 
 
BENEFICIALLY
 
OWNED BY
8
SHARED VOTING POWER
3,664,357*
 
 
EACH
 
REPORTING
9
SOLE DISPOSITIVE POWER
 
 
 
PERSON
 
WITH
10
SHARED DISPOSITIVE POWER
3,664,357
 
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,664,357
 
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions)
 
 
ý
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.5%
 
14
TYPE OF REPORTING PERSON (See Instructions)
 
CO
*  Solely in its capacity as the general partner of ArcLight Energy Partners Fund I, L.P.
 
 
 

 
 
SCHEDULE 13D
 
CUSIP No. 70336T 10 4
 
Page     5     of     90     Pages
     
1
NAME OF REPORTING PERSON
 
ArcLight PEF GP II, LLC
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
 
 
(a)
(b) ý
3
SEC USE ONLY
 
 
4
SOURCE OF FUNDS (See Instructions)
 
OO
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
Delaware
 
NUMBER OF
 
SHARES
7
SOLE VOTING POWER
 
 
 
BENEFICIALLY
 
OWNED BY
8
SHARED VOTING POWER
2,934,305*
 
 
EACH
 
REPORTING
9
SOLE DISPOSITIVE POWER
 
 
 
PERSON
 
WITH
10
SHARED DISPOSITIVE POWER
2,934,305
 
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,934,305
 
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions)
 
 
ý
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.6%
 
14
TYPE OF REPORTING PERSON (See Instructions)
 
CO
*  Solely in its capacity as the general partner of ArcLight Energy Partners Fund II, L.P.
 
 
 

 
 
SCHEDULE 13D
 
CUSIP No. 70336T 10 4
 
Page     6     of     90     Pages
     
1
NAME OF REPORTING PERSON
 
ArcLight Capital Holdings, LLC
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
 
 
(a)
(b) ý
3
SEC USE ONLY
 
 
4
SOURCE OF FUNDS (See Instructions)
 
OO
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
Delaware
 
NUMBER OF
 
SHARES
7
SOLE VOTING POWER
 
 
 
BENEFICIALLY
 
OWNED BY
8
SHARED VOTING POWER
6,598,662*
 
 
EACH
 
REPORTING
9
SOLE DISPOSITIVE POWER
 
 
 
PERSON
 
WITH
10
SHARED DISPOSITIVE POWER
6,598,662
 
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
6,598,662
 
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions)
 
 
ý
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
17.0%
 
14
TYPE OF REPORTING PERSON (See Instructions)
 
CO
*  Solely in its capacity as the manager of ArcLight PEF GP, LLC, the general partner of ArcLight Energy Partners Fund I, L.P. and ArcLight PEF GP II, LLC, the general partner of ArcLight Energy Partners Fund II, L.P.
 
 
 

 
 
SCHEDULE 13D
 
CUSIP No. 70336T 10 4
 
Page     7     of     90     Pages
     
1
NAME OF REPORTING PERSON
 
Daniel R. Revers*
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
 
 
(a)
(b) ý
3
SEC USE ONLY
 
 
4
SOURCE OF FUNDS (See Instructions)
 
OO
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
United States
 
NUMBER OF
 
SHARES
7
SOLE VOTING POWER
 
 
 
BENEFICIALLY
 
OWNED BY
8
SHARED VOTING POWER
6,598,662*
 
 
EACH
 
REPORTING
9
SOLE DISPOSITIVE POWER
 
 
 
PERSON
 
WITH
10
SHARED DISPOSITIVE POWER
6,598,662
 
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
6,598,662
 
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions)
 
 
ý
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
17.0%
 
14
TYPE OF REPORTING PERSON (See Instructions)
 
IN
*  Solely in his capacity as the manager of ArcLight Capital Partners, LLC, the manager of ArcLight PEF GP, LLC  which is the general partner of ArcLight Energy Partners Fund I, L.P. and ArcLight PEF GP II, LLC, the general partner of ArcLight Energy Partners Fund II, L.P.  Mr. Revers disclaims beneficial ownership of the shares of Common Stock held by the ArcLight Funds, except to the extent of his pecuniary interest in such funds.
 
 
 

 
 
SCHEDULE 13D
 
CUSIP No. 70336T 10 4
 
Page     8     of     90     Pages
     
1
NAME OF REPORTING PERSON
 
Robb E. Turner*
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
 
 
(a)
(b) ý
3
SEC USE ONLY
 
 
4
SOURCE OF FUNDS (See Instructions)
 
OO
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
United States
 
NUMBER OF
 
SHARES
7
SOLE VOTING POWER
 
 
 
BENEFICIALLY
 
OWNED BY
8
SHARED VOTING POWER
6,598,662*
 
 
EACH
 
REPORTING
9
SOLE DISPOSITIVE POWER
 
 
 
PERSON
 
WITH
10
SHARED DISPOSITIVE POWER
6,598,662
 
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
6,598,662
 
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions)
 
 
ý
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
17.0%
 
14
TYPE OF REPORTING PERSON (See Instructions)
 
IN
*  Solely in his capacity as the manager of ArcLight Capital Partners, LLC, the manager of ArcLight PEF GP, LLC  which is the general partner of ArcLight Energy Partners Fund I, L.P. and ArcLight Energy Partners Fund II, L.P.  Mr. Turner disclaims beneficial ownership of the shares of Common Stock held by the ArcLight Funds, except to the extent of his pecuniary interest in such funds.
 
 
 

 
 
SCHEDULE 13D
 
CUSIP No. 70336T 10 4
 
Page     9     of     90     Pages
     
1
NAME OF REPORTING PERSON
 
John F. Erhard*
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
 
 
(a)
(b) ý
3
SEC USE ONLY
 
 
4
SOURCE OF FUNDS (See Instructions)
 
OO
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
United States
 
NUMBER OF
 
SHARES
7
SOLE VOTING POWER
 
 
 
BENEFICIALLY
 
OWNED BY
8
SHARED VOTING POWER
6,598,662*
 
 
EACH
 
REPORTING
9
SOLE DISPOSITIVE POWER
 
 
 
PERSON
 
WITH
10
SHARED DISPOSITIVE POWER
6,598,662
 
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
6,598,662
 
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions)
 
 
ý
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
17.0%
 
14
TYPE OF REPORTING PERSON (See Instructions)
 
IN
*  Solely in his capacity as a principal of ArcLight Capital Partners, LLC an affiliate of ArcLight Capital Partners, LLC, the manager of ArcLight PEF GP, LLC  which is the general partner of ArcLight Energy Partners Fund I, L.P. and ArcLight Energy Partners Fund II, L.P.  Mr. Erhard disclaims beneficial ownership of the shares of Common Stock held by the ArcLight Funds, except to the extent of his pecuniary interest in such funds.
 
 
 

 
 
SCHEDULE 13D
 
CUSIP No. 70336T 10 4
 
Page     10     of     90     Pages
     
1
NAME OF REPORTING PERSON
 
Caisse de Dépôt et Placement du Québec
 
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
 
 
(a)
(b) ý
3
SEC USE ONLY
 
 
4
SOURCE OF FUNDS (See Instructions)
 
OO
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
Québec, Canada
 
NUMBER OF
 
SHARES
7
SOLE VOTING POWER
1,153,898
 
 
BENEFICIALLY
 
OWNED BY
8
SHARED VOTING POWER
 
 
 
EACH
 
REPORTING
9
SOLE DISPOSITIVE POWER
1,153,898
 
 
PERSON
 
WITH
10
SHARED DISPOSITIVE POWER
 
 
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,153,898
 
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions)
 
 
ý
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.0%
 
14
TYPE OF REPORTING PERSON (See Instructions)
 
OO

 
 

 
 
SCHEDULE 13D
 
CUSIP No. 70336T 10 4
 
Page     11     of     90     Pages
     
1
NAME OF REPORTING PERSON
 
Cascade Investment, L.L.C.
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
 
 
(a)
(b) ý
3
SEC USE ONLY
 
 
4
SOURCE OF FUNDS (See Instructions)
OO
 
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
Washington
 
NUMBER OF
 
SHARES
7
SOLE VOTING POWER
1,204,326(1)
 
 
BENEFICIALLY
 
OWNED BY
8
SHARED VOTING POWER
 
 
 
EACH
 
REPORTING
9
SOLE DISPOSITIVE POWER
1,204,326(1)
 
 
PERSON
 
WITH
10
SHARED DISPOSITIVE POWER
 
 
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,204,326
 
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions)
 
 
ý
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.1%
 
14
TYPE OF REPORTING PERSON (See Instructions)
 
OO
(1)  All shares of Common Stock held by Cascade Investment, L.L.C. (“Cascade”) may be deemed to be beneficially owned by William H. Gates III as the sole member of Cascade. Michael Larson, the Business Manager of Cascade, has voting and investment power with respect to the Common Stock held by Cascade.  Mr. Larson disclaims any beneficial ownership of the shares of Common Stock beneficially owned by Cascade and Mr. Gates.
 
 
 

 
 
SCHEDULE 13D
 
CUSIP No. 70336T 10 4
 
Page     12     of     90     Pages
     
1
NAME OF REPORTING PERSON
 
William H. Gates III
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
 
 
(a)
(b) ý
3
SEC USE ONLY
 
 
4
SOURCE OF FUNDS (See Instructions)
 
OO
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
United States
 
NUMBER OF
 
SHARES
7
SOLE VOTING POWER
1,204,326(1)
 
 
BENEFICIALLY
 
OWNED BY
8
SHARED VOTING POWER
 
 
 
EACH
 
REPORTING
9
SOLE DISPOSITIVE POWER
1,204,326(1)
 
 
PERSON
 
WITH
10
SHARED DISPOSITIVE POWER
 
 
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,204,326
 
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions)
 
 
ý
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.1%
 
14
TYPE OF REPORTING PERSON (See Instructions)
 
IN
(1)  All shares of Common Stock held by Cascade Investment, L.L.C. (“Cascade”) may be deemed to be beneficially owned by William H. Gates III as the sole member of Cascade. Michael Larson, the Business Manager of Cascade, has voting and investment power with respect to the shares of  Common Stock held by Cascade.  Mr. Larson disclaims any beneficial ownership of the shares of Common Stock beneficially owned by Cascade and Mr. Gates.
 
 
 

 
 
SCHEDULE 13D
 
CUSIP No. 70336T 10 4
 
Page     13     of     90     Pages
     
1
NAME OF REPORTING PERSON
 
Citigroup Capital Partners II 2006 Citigroup Investment, L.P.
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
 
 
(a)
(b) ý
3
SEC USE ONLY
 
 
4
SOURCE OF FUNDS (See Instructions)
 
OO
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
Delaware
 
NUMBER OF
 
SHARES
7
SOLE VOTING POWER
 
 
 
BENEFICIALLY
 
OWNED BY
8
SHARED VOTING POWER
247,602
 
 
EACH
 
REPORTING
9
SOLE DISPOSITIVE POWER
 
 
 
PERSON
 
WITH
10
SHARED DISPOSITIVE POWER
247,602
 
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
247,602
 
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions)
 
 
ý
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.6%
 
14
TYPE OF REPORTING PERSON (See Instructions)
 
PN

 
 

 
 
SCHEDULE 13D
 
CUSIP No. 70336T 10 4
 
Page     14     of     90     Pages
     
1
NAME OF REPORTING PERSON
 
Citigroup Capital Partners II Employee Master Fund, L.P.
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
 
 
(a)
(b) ý
3
SEC USE ONLY
 
 
4
SOURCE OF FUNDS (See Instructions)
 
OO
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
Delaware
 
NUMBER OF
 
SHARES
7
SOLE VOTING POWER
 
 
 
BENEFICIALLY
 
OWNED BY
8
SHARED VOTING POWER
278,126
 
 
EACH
 
REPORTING
9
SOLE DISPOSITIVE POWER
 
 
 
PERSON
 
WITH
10
SHARED DISPOSITIVE POWER
278,126
 
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
278,126
 
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions)
 
 
ý
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.7%
 
14
TYPE OF REPORTING PERSON (See Instructions)
 
PN

 
 

 

SCHEDULE 13D
 
CUSIP No. 70336T 10 4
 
Page     15     of     90     Pages
     
1
NAME OF REPORTING PERSON
 
Citigroup Capital Partners II Onshore, L.P.
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
 
 
(a)
(b) ý
3
SEC USE ONLY
 
 
4
SOURCE OF FUNDS (See Instructions)
 
OO
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
Delaware
 
NUMBER OF
 
SHARES
7
SOLE VOTING POWER
 
 
 
BENEFICIALLY
 
OWNED BY
8
SHARED VOTING POWER
125,566
 
 
EACH
 
REPORTING
9
SOLE DISPOSITIVE POWER
 
 
 
PERSON
 
WITH
10
SHARED DISPOSITIVE POWER
125,566
 
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
125,566
 
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions)
 
 
ý
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.3%
 
14
TYPE OF REPORTING PERSON (See Instructions)
 
PN

 
 

 

SCHEDULE 13D
 
CUSIP No. 70336T 10 4
 
Page     16     of     90     Pages
     
1
NAME OF REPORTING PERSON
 
Citigroup Capital Partners II Cayman Holdings, L.P.
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
 
 
(a)
(b) ý
3
SEC USE ONLY
 
 
4
SOURCE OF FUNDS (See Instructions)
 
OO
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
Cayman Islands
 
NUMBER OF
 
SHARES
7
SOLE VOTING POWER
 
 
 
BENEFICIALLY
 
OWNED BY
8
SHARED VOTING POWER
157,330
 
 
EACH
 
REPORTING
9
SOLE DISPOSITIVE POWER
 
 
 
PERSON
 
WITH
10
SHARED DISPOSITIVE POWER
157,330
 
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
157,330
 
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions)
 
 
ý
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.4%
 
14
TYPE OF REPORTING PERSON (See Instructions)
 
PN

 
 

 
 
SCHEDULE 13D
 
CUSIP No. 70336T 10 4
 
Page     17     of     90     Pages
     
1
NAME OF REPORTING PERSON
 
Citigroup Private Equity LP
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
 
 
(a)
(b) ý
3
SEC USE ONLY
 
 
4
SOURCE OF FUNDS (See Instructions)
 
OO
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
Delaware
 
NUMBER OF
 
SHARES
7
SOLE VOTING POWER
 
 
 
BENEFICIALLY
 
OWNED BY
8
SHARED VOTING POWER
808,624
 
 
EACH
 
REPORTING
9
SOLE DISPOSITIVE POWER
 
 
 
PERSON
 
WITH
10
SHARED DISPOSITIVE POWER
808,624
 
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
808,624
 
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions)
 
 
ý
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.1%
 
14
TYPE OF REPORTING PERSON (See Instructions)
 
PN

 
 

 
 
SCHEDULE 13D
 
CUSIP No. 70336T 10 4
 
Page     18     of     90     Pages
     
1
NAME OF REPORTING PERSON
 
Citigroup Alternative Investments LLC
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
 
 
(a)
(b) ý
3
SEC USE ONLY
 
 
4
SOURCE OF FUNDS (See Instructions)
 
OO
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
Delaware
 
NUMBER OF
 
SHARES
7
SOLE VOTING POWER
 
 
 
BENEFICIALLY
 
OWNED BY
8
SHARED VOTING POWER
808,624
 
 
EACH
 
REPORTING
9
SOLE DISPOSITIVE POWER
 
 
 
PERSON
 
WITH
10
SHARED DISPOSITIVE POWER
808,624
 
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
808,624
 
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions)
 
 
ý
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.1%
 
14
TYPE OF REPORTING PERSON (See Instructions)
 
IA

 
 

 
 
SCHEDULE 13D
 
CUSIP No. 70336T 10 4
 
Page     19     of     90     Pages
     
1
NAME OF REPORTING PERSON
 
Citigroup Investments Inc.
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
 
 
(a)
(b) ý
3
SEC USE ONLY
 
 
4
SOURCE OF FUNDS (See Instructions)
 
OO
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
Delaware
 
NUMBER OF
 
SHARES
7
SOLE VOTING POWER
 
 
 
BENEFICIALLY
 
OWNED BY
8
SHARED VOTING POWER
808,624
 
 
EACH
 
REPORTING
9
SOLE DISPOSITIVE POWER
 
 
 
PERSON
 
WITH
10
SHARED DISPOSITIVE POWER
808,624
 
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
808,624
 
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions)
 
 
ý
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.1%
 
14
TYPE OF REPORTING PERSON (See Instructions)
 
HC

 
 

 
 
SCHEDULE 13D
 
CUSIP No. 70336T 10 4
 
Page     20     of     90     Pages
     
1
NAME OF REPORTING PERSON
 
Citigroup Inc.
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
 
 
(a)
(b) ý
3
SEC USE ONLY
 
 
4
SOURCE OF FUNDS (See Instructions)
 
OO
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
Delaware
 
NUMBER OF
 
SHARES
7
SOLE VOTING POWER
 
 
 
BENEFICIALLY
 
OWNED BY
8
SHARED VOTING POWER
1,166,714*
 
 
EACH
 
REPORTING
9
SOLE DISPOSITIVE POWER
 
 
 
PERSON
 
WITH
10
SHARED DISPOSITIVE POWER
1,166,714*
 
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,166,714*
 
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions)
 
 
ý
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.0%
 
14
TYPE OF REPORTING PERSON (See Instructions)
 
HC
*  Includes shares held by the other Citigroup Entities.
 
 
 

 

SCHEDULE 13D
 
CUSIP No. 70336T 10 4
 
Page     21     of     90     Pages
     
1
NAME OF REPORTING PERSON
 
Howard Hughes Medical Institute
 
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
 
 
(a)
(b) ý
3
SEC USE ONLY
 
 
4
SOURCE OF FUNDS (See Instructions)
 
OO
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
Delaware
 
NUMBER OF
 
SHARES
7
SOLE VOTING POWER
803,670
 
 
BENEFICIALLY
 
OWNED BY
8
SHARED VOTING POWER
 
 
 
EACH
 
REPORTING
9
SOLE DISPOSITIVE POWER
803,670
 
 
PERSON
 
WITH
10
SHARED DISPOSITIVE POWER
 
 
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
803,670
 
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions)
 
 
ý
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.1%
 
14
TYPE OF REPORTING PERSON (See Instructions)
 
CO

 
 

 
 
SCHEDULE 13D
 
CUSIP No. 70336T 10 4
 
Page     22     of     90     Pages
     
1
NAME OF REPORTING PERSON
 
The Northwestern Mutual Life Insurance Company
 
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
 
 
(a)
(b) ý
3
SEC USE ONLY
 
 
4
SOURCE OF FUNDS (See Instructions)
 
OO
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
Wisconsin
 
NUMBER OF
 
SHARES
7
SOLE VOTING POWER
611,320
 
 
BENEFICIALLY
 
OWNED BY
8
SHARED VOTING POWER
 
 
 
EACH
 
REPORTING
9
SOLE DISPOSITIVE POWER
611,320
 
 
PERSON
 
WITH
10
SHARED DISPOSITIVE POWER
 
 
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
611,320
 
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions)
 
 
ý
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.6%
 
14
TYPE OF REPORTING PERSON (See Instructions)
 
IC

 
 

 
 
SCHEDULE 13D
 
CUSIP No. 70336T 10 4
 
Page     23     of     90     Pages
     
1
NAME OF REPORTING PERSON
 
The Board of Trustees of the Leland Stanford Junior University
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
 
 
(a)
(b) ý
3
SEC USE ONLY
 
 
4
SOURCE OF FUNDS (See Instructions)
 
OO
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
California
 
NUMBER OF
 
SHARES
7
SOLE VOTING POWER
328,394
 
 
BENEFICIALLY
 
OWNED BY
8
SHARED VOTING POWER
 
 
 
EACH
 
REPORTING
9
SOLE DISPOSITIVE POWER
328,394
 
 
PERSON
 
WITH
10
SHARED DISPOSITIVE POWER
 
 
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
328,394
 
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions)
 
 
ý
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.8%
 
14
TYPE OF REPORTING PERSON (See Instructions)
 
EP

 
 

 
 
SCHEDULE 13D
 
CUSIP No. 70336T 10 4
 
Page     24     of     90     Pages
     
1
NAME OF REPORTING PERSON
 
Paul Vining
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
 
 
(a)
(b) ý
3
SEC USE ONLY
 
 
4
SOURCE OF FUNDS (See Instructions)
 
OO
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
United States
 
NUMBER OF
 
SHARES
7
SOLE VOTING POWER
83,567
 
 
BENEFICIALLY
 
OWNED BY
8
SHARED VOTING POWER
 
 
 
EACH
 
REPORTING
9
SOLE DISPOSITIVE POWER
83,567
 
 
PERSON
 
WITH
10
SHARED DISPOSITIVE POWER
 
 
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
83,567
 
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions)
 
 
ý
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.2%
 
14
TYPE OF REPORTING PERSON (See Instructions)
 
IN

 
 

 
 
SCHEDULE 13D
 
CUSIP No. 70336T 10 4
 
Page     25     of     90     Pages
     
1
NAME OF REPORTING PERSON
 
Timothy Elliott
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
 
 
(a)
(b) ý
3
SEC USE ONLY
 
 
4
SOURCE OF FUNDS (See Instructions)
 
OO
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
United States
 
NUMBER OF
 
SHARES
7
SOLE VOTING POWER
62,211
 
 
BENEFICIALLY
 
OWNED BY
8
SHARED VOTING POWER
 
 
 
EACH
 
REPORTING
9
SOLE DISPOSITIVE POWER
62,211
 
 
PERSON
 
WITH
10
SHARED DISPOSITIVE POWER
 
 
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
62,211
 
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions)
 
 
ý
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.2%
 
14
TYPE OF REPORTING PERSON (See Instructions)
 
IN

 
 

 
 
SCHEDULE 13D
 
CUSIP No. 70336T 10 4
 
Page     26     of     90     Pages
     
1
NAME OF REPORTING PERSON
 
David Turnbull
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
 
 
(a)
(b) ý
3
SEC USE ONLY
 
 
4
SOURCE OF FUNDS (See Instructions)
 
OO
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
United States
 
NUMBER OF
 
SHARES
7
SOLE VOTING POWER
16,238
 
 
BENEFICIALLY
 
OWNED BY
8
SHARED VOTING POWER
 
 
 
EACH
 
REPORTING
9
SOLE DISPOSITIVE POWER
16,238
 
 
PERSON
 
WITH
10
SHARED DISPOSITIVE POWER
 
 
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
16,238
 
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions)
 
 
ý
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.0%
 
14
TYPE OF REPORTING PERSON (See Instructions)
 
IN

 
 

 
 
SCHEDULE 13D
 
CUSIP No. 70336T 10 4
 
Page     27     of     90     Pages
     
1
NAME OF REPORTING PERSON
 
Richard Verheij
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
 
 
(a)
(b) ý
3
SEC USE ONLY
 
 
4
SOURCE OF FUNDS (See Instructions)
 
OO
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
Canada
 
NUMBER OF
 
SHARES
7
SOLE VOTING POWER
25,573
 
 
BENEFICIALLY
 
OWNED BY
8
SHARED VOTING POWER
 
 
 
EACH
 
REPORTING
9
SOLE DISPOSITIVE POWER
25,573
 
 
PERSON
 
WITH
10
SHARED DISPOSITIVE POWER
 
 
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
25,573
 
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions)
 
 
ý
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.0%
 
14
TYPE OF REPORTING PERSON (See Instructions)
 
IN

 
 

 
 
SCHEDULE 13D
 
CUSIP No. 70336T 10 4
 
Page     28     of     90     Pages
     
1
NAME OF REPORTING PERSON
 
Tom McQuade
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
 
 
(a)
(b) ý
3
SEC USE ONLY
 
 
4
SOURCE OF FUNDS (See Instructions)
 
OO
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
United States
 
NUMBER OF
 
SHARES
7
SOLE VOTING POWER
16,328
 
 
BENEFICIALLY
 
OWNED BY
8
SHARED VOTING POWER
 
 
 
EACH
 
REPORTING
9
SOLE DISPOSITIVE POWER
16,328
 
 
PERSON
 
WITH
10
SHARED DISPOSITIVE POWER
 
 
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
16,328
 
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions)
 
 
ý
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.0%
 
14
TYPE OF REPORTING PERSON (See Instructions)
 
IN

 
 

 
 
SCHEDULE 13D
 
CUSIP No. 70336T 10 4
 
Page     29     of     90     Pages
     
1
NAME OF REPORTING PERSON
 
B. Scott Spears
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
 
 
(a)
(b) ý
3
SEC USE ONLY
 
 
4
SOURCE OF FUNDS (See Instructions)
 
OO
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
United States
 
NUMBER OF
 
SHARES
7
SOLE VOTING POWER
14,585
 
 
BENEFICIALLY
 
OWNED BY
8
SHARED VOTING POWER
 
 
 
EACH
 
REPORTING
9
SOLE DISPOSITIVE POWER
14,585
 
 
PERSON
 
WITH
10
SHARED DISPOSITIVE POWER
 
 
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
14,585
 
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions)
 
 
ý
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.0%
 
14
TYPE OF REPORTING PERSON (See Instructions)
 
IN

 
 

 
 
SCHEDULE 13D
 
CUSIP No. 70336T 10 4
 
Page     30     of     90     Pages
     
1
NAME OF REPORTING PERSON
 
Keith St. Clair
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
 
 
(a)
(b) ý
3
SEC USE ONLY
 
 
4
SOURCE OF FUNDS (See Instructions)
 
OO
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
United States
 
NUMBER OF
 
SHARES
7
SOLE VOTING POWER
35,417
 
 
BENEFICIALLY
 
OWNED BY
8
SHARED VOTING POWER
 
 
 
EACH
 
REPORTING
9
SOLE DISPOSITIVE POWER
35,417
 
 
PERSON
 
WITH
10
SHARED DISPOSITIVE POWER
 
 
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
35,417
 
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions)
 
 
ý
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.0%
 
14
TYPE OF REPORTING PERSON (See Instructions)
 
IN

 
 

 
 
SCHEDULE 13D
 
CUSIP No. 70336T 10 4
 
Page     31     of     90     Pages
     
1
NAME OF REPORTING PERSON
 
Robert Bennett
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
 
 
(a)
(b) ý
3
SEC USE ONLY
 
 
4
SOURCE OF FUNDS (See Instructions)
 
OO
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
United States
 
NUMBER OF
 
SHARES
7
SOLE VOTING POWER
25,547
 
 
BENEFICIALLY
 
OWNED BY
8
SHARED VOTING POWER
 
 
 
EACH
 
REPORTING
9
SOLE DISPOSITIVE POWER
 
25,547
 
PERSON
 
WITH
10
SHARED DISPOSITIVE POWER
 
 
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
25,547
 
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions)
 
 
ý
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.0%
 
14
TYPE OF REPORTING PERSON (See Instructions)
 
IN

 
 

 
 
SCHEDULE 13D
 
CUSIP No. 70336T 10 4
 
Page     32     of     90     Pages
     
1
NAME OF REPORTING PERSON
 
Dwayne Francisco
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
 
 
(a)
(b) ý
3
SEC USE ONLY
 
 
4
SOURCE OF FUNDS (See Instructions)
 
OO
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
United States
 
NUMBER OF
 
SHARES
7
SOLE VOTING POWER
39,374
 
 
BENEFICIALLY
 
OWNED BY
8
SHARED VOTING POWER
 
 
 
EACH
 
REPORTING
9
SOLE DISPOSITIVE POWER
39,374
 
PERSON
 
WITH
10
SHARED DISPOSITIVE POWER
 
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
39,374
 
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions)
 
 
ý
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.1%
 
14
TYPE OF REPORTING PERSON (See Instructions)
 
IN

 
 

 
 
Item 1.  Security and Issuer
 
This Schedule 13D (this "Schedule 13D") relates to shares of common stock, par value $0.01 per share (the "Common Stock"), of Patriot Coal Corporation, a Delaware corporation (the "Issuer").  The address of the principal executive offices of the Issuer is 12312 Olive Boulevard, Suite 400, St. Louis, Missouri 63141.
 
Item 2.  Identity and Background
 
(a), (b), (c), (f)
 
This Schedule 13D is being filed on behalf of the following persons (collectively, the "Reporting Persons"): ArcLight Energy Partners Fund I, L.P. ("ArcLight Fund I"), ArcLight Energy Partners Fund II, L.P. ("ArcLight Fund II", and together with ArcLight Fund I, the "ArcLight Funds"), ArcLight PEF GP, LLC ("ArcLight PEF GP"), ArcLight PEF GP II, LLC ("ArcLight PEF GP II"), ArcLight Capital Holdings, LLC ("ArcLight Capital Holdings", and together with the ArcLight Funds, ArcLight PEF GP and ArcLight PEF GP II the "ArcLight Entities"), Daniel R. Revers ("Mr. Revers"), Robb E. Turner ("Mr. Turner"), John F. Erhard (Mr. Erhard"), Caisse de Dépôt et Placement du Québec ("Caisse"), Cascade Investment, L.L.C. ("Cascade"), William H. Gates III (“Mr. Gates”), Citigroup Capital Partners II 2006 Citigroup Investment, L.P. ("Citigroup Investment"), Citigroup Capital Partners II Employee Master Fund, L.P. ("Citigroup Employee Master Fund"), Citigroup Capital Partners II Onshore, L.P. ("Citigroup Onshore"), Citigroup Capital Partners II Cayman Holdings, L.P. ("Citigroup Cayman", and together with Citigroup Investment, Citigroup Employee Master Fund, Citigroup Onshore, the "Citigroup Funds") Citigroup Private Equity LP ("Citigroup PE") Citigroup Alternative Investments LLC ("CAI"), Citigroup Investments Inc. ("CII") and Citigroup Inc. ("Citigroup" and together with Citigroup Funds, CAI and CII, the "Citigroup Entities"), Howard Hughes Medical Institute ("HHMI"), The Northwestern Mutual Life Insurance Company ("Northwestern"), The Board of Trustees of the Leland Stanford Junior University (“Stanford University”), Paul Vining ("Mr. Vining"), Timothy Elliott ("Mr. Elliott"), David Turnbull ("Mr. Turnbull"), Richard Verheij ("Mr. Verheij"), Tom McQuade ("Mr. McQuade"), B. Scott Spears ("Mr. Spears"), Keith St. Clair ("Mr. St. Clair"), Robert Bennett ("Mr. Bennett"), and Dwayne Francisco ("Mr. Francisco") pursuant to a joint filing agreement attached hereto as Exhibit 99.6.
 
Each ArcLight Fund is a Delaware limited partnership.  ArcLight PEF GP, ArcLight PEF II and ArcLight Capital Holdings are Delaware limited liability companies.  The business of the ArcLight Funds is energy related investments.  The business of ArcLight PEF GP is to be the general partner of the ArcLight Fund I, the business of  ArcLight PEF GP II is to be the general partner of ArcLight Fund II and the business of ArcLight Capital Holdings is to be the manager of ArcLight PEF GP and ArcLight PEF GP.  Each of Mr. Revers, Mr. Turner and Mr. Erhard is a citizen of the United States.  The principal business occupation of Mr. Revers is to serve as manager of ArcLight Capital Holdings and Managing Partner of ArcLight Capital Partners, LLC.  The principal business occupation of Mr. Turner is to serve as manager of ArcLight Capital Holdings and Senior Partner of ArcLight Capital Partners, LLC.  The principal business occupation of Mr. Erhard is to serve as a principal of ArcLight Capital Partners, LLC. The address of their principal business offices of each of the ArcLight Entities, Messrs. Revers, Turner and Erhard is 200 Clarendon Street, 55th Floor, Boston, MA 02117.
 
Caisse is a legal person without share capital created by a special act of the Legislature of the Province of Québec.  The principal business of Caisse is to receive on deposit and manage funds deposited by agencies and instrumentalities of the Province of Québec.  It is located at Centre CDP Capital, 1000, place Jean-Paul Riopelle, Montreal, Quebec, H2Z 2B3, Canada.  Set forth in Annex A attached hereto and incorporated herein by reference is a listing of the directors and executive officers and controlling persons of Caisse (collectively, the "Caisse Covered Persons"), and the business address and present principal occupation or employment of each of the Caisse Covered Persons.  Except as set forth in Annex A, each of the Caisse Covered Persons is a Canadian citizen.
 
Cascade is a limited liability company organized under the laws of the State of Washington that makes investments on behalf of its sole owner, Mr. Gates.  The address of Cascade’s principal place of
 
 
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business and principal office is 2365 Carillon Point, Kirkland, Washington 98033.  Mr. Gates is a citizen of the United States. The address of his principal office and principal place of business is One Microsoft Way, Redmond, Washington 98052.  Michael Larson is the business manager of Cascade.  Mr. Larson is a citizen of the United States. The address of his principal office and principal place of business is 2365 Carillon Point, Kirkland, Washington 98033.
 
Each of Citigroup Investment, Citigroup Employee Master Fund, Citigroup Onshore and Citigroup PE is a Delaware limited partnership.  Citigroup Cayman is a Cayman Islands partnership.  CAI is a Delaware limited liability company. CII and Citigroup are Delaware corporations. Each of Citigroup Investment, Citigroup Employee Master Fund, Citigroup Onshore,  Citigroup Cayman and Citigroup PE (directly and indirectly through subsidiaries or affiliated companies or both) is principally engaged in the business of investing in equity, debt, derivative and other securities and assets.  CAI is an investment advisor. Both CII and Citigroup are holding companies.  The principal address of each of  Citigroup Investment, Citigroup Employee Master Fund, Citigroup Onshore, Citigroup Cayman, Citigroup PE , CAI and CII is  731 Lexington Avenue, 26th Floor, New York, New York 10022.  The principal address of Citigroup is 399 Park Avenue, New York, New York 10022. Set forth in Annex A attached hereto and incorporated herein by reference is a listing of the directors, executive officers, managers, members and general partners, as applicable, of the Citigroup Entities and each controlling person thereof (collectively, the "Citigroup Covered Persons"), and the business address and present principal occupation or employment and citizenship of each of the Citigroup Covered Persons.
 
HHMI is a Delaware non-profit corporation.  HHMI is a medical research organization. HHMI's principal offices and business headquarters are located at 4000 Jones Bridge Road, Chevy Chase, MD 20815-6789.  Set forth in Annex A attached hereto and incorporated herein by reference is a listing of the directors and executive officers and controlling persons of HHMI (collectively, the "HHMI Covered Persons"), and the business address and present principal occupation or employment of each of the HHMI Covered Persons.  Except as set forth in Annex A, each of the HHMI Covered Persons is a United States citizen.
 
Northwestern is a mutual life insurance company organized under the laws of the State of Wisconsin. Its principal business lines include life insurance, disability income insurance and annuities for the personal, business, estate planning and pension markets.  Northwestern's principal offices and business headquarters are located at 720 East Wisconsin Avenue, Milwaukee, WI 53202.  Set forth in Annex A attached hereto and incorporated herein by reference is a listing of the trustees and executive officers and controlling persons of Northwestern (collectively, the "Northwestern Covered Persons"), and the business address and present principal occupation or employment of each of the Northwestern Covered Persons.  Except as set forth in Annex A, each of the Northwestern Covered Persons is a United States citizen.
 
Stanford University is a trust with corporate powers under the laws of the State of California. Stanford University is a private university whose endowment investment management division, Stanford Management Company, is located at 2770 Sand Hill Road, Menlo Park, California 94025.
 
Mr. Vining serves as the Issuer's President and Chief Operating Officer.  Mr. Vining is a citizen of the United States.  The address of his principal office and principal place of business is 500 Lee Street East Suite 900, Charleston WV 25301.
 
Mr. Elliott is retired.  Mr. Elliott is a citizen of the United States.  His address is c/o 500 Lee Street East Suite 900, Charleston WV 25301.
 
Mr. Turnbull is a consultant.  Mr. Turnbull is a citizen of the United States.  His address is 1582 Virginia Street, East, Charleston, West Virginia  25311.
 
Mr. Verheij will be an employee of the Issuer until August 13th after which time he will be a consultant.  Mr. Verheij is a citizen of Canada.  The address of his principal office and principal place of business is 500 Lee Street East Suite 900, Charleston WV 25301.
 
 
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Mr. McQuade is a consultant. Mr. McQuade is a citizen of the United States.  The address of his principal office and principal place of business is 7511 Megington Drive, Charlotte, North Carolina   28226.
 
Mr. Spears is the Director of Business Development of the Issuer.  Mr. Spears is a citizen of the United States.  The address of his principal office and principal place of business is 500 Lee Street East Suite 900, Charleston WV 25301.
 
Mr. St. Clair will be an employee of the Issuer until August 13th after which time he will be a consultant.  Mr. St. Clair is a citizen of the United States.  The address of his principal office and principal place of business is 500 Lee Street East Suite 900, Charleston WV 25301.
 
Mr. Bennett is Senior Vice President, Sales and Trading of the Issuer.  Mr. Bennett is a citizen of the United States.  The address of his principal office and principal place of business is 500 Lee Street East Suite 900, Charleston WV 25301.
 
Mr. Francisco. will be an employee of the Issuer until August 23rd after which time he will be a consultant.  Mr. Francisco is a citizen of the United States.  The address of his principal office and principal place of business is 500 Lee Street East Suite 900, Charleston WV 25301.
 
(d), (e): During the past five years, no person listed above has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors), nor has any such person been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction that resulted in such person becoming subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws, except as set forth on Annex B hereto.
 
Item 3.  Source and Amount of Funds or Other Consideration
 
As more fully described in Item 4 below, on July 23, 2008, certain of the Reporting Persons, acquired an aggregate of 11,901,656 shares of Common Stock, pursuant to the consummation of the transactions contemplated by the Merger Agreement (as defined below).  The transactions contemplated by the Merger Agreement did not require the payment of any cash consideration by the Reporting Persons to acquire the Common Stock.  The funds for the purchases by Citigroup listed on Annex C hereto were obtained from the working capital of Citigroup.

Item 4.  Purpose of Transaction
 
On April 2, 2008, the Issuer, Magnum Coal Company ("Magnum"), Colt Merger Corporation, a wholly owned subsidiary of the Issuer ("Merger Sub"), and ArcLight Fund I, and ArcLight Fund II, acting jointly, as stockholder representative (the "Stockholder Representative"), entered into the Agreement and Plan of Merger (the "Merger Agreement").  On July 23, 2008 Merger Sub was merged with and into Magnum (the "Merger").  Pursuant to the Merger, Magnum became a wholly owned subsidiary of the Issuer and all of the shares of common stock of Magnum were converted into the right to receive shares of Common Stock in accordance with the Merger Agreement.  A copy of the Merger Agreement is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
 
Voting Agreement
 
In connection with execution of the Merger Agreement, the Issuer, the ArcLight Funds, Cascade, Caisse, the Citigroup Funds, HHMI, Northwestern, Stanford University and Messrs. Elliott, Vining, Turnbull, Verheij, McQuade, Spears, Bennett, Francisco, and St. Clair, then shareholders of Magnum, entered into a Voting and Standstill Agreement (the "Voting Agreement"), dated as of April 2, 2008 that became effective at the effective time of the Merger.
 
Pursuant to the Voting Agreement, effective as of the effective time of the Merger, the Issuer’s board of directors was expanded from seven to nine members and the board of directors appointed two
 
 
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nominees designated by the Stockholder Representative.  One such nominee will serve as a Class I director and the other nominee will serve as a Class II director on the Issuer’s board of directors.  Any board nominee or replacement selected by the Stockholder Representative must be reasonably acceptable to the nominating and governance committee of the Issuer’s board of directors and must, to the reasonable satisfaction of the nominating and governance committee, be an “independent director” under the New York Stock Exchange’s listing standards, disregarding certain disclosed relationships.  The nominees initially designated by the Stockholder Representative for appointment are Mr. Turner and Mr. Erhard, each of whom is affiliated with the ArcLight Funds.  The nominating and governance committee of the Issuer’s board of directors has determined that as of the date of the Voting Agreement, Messrs. Turner and Erhard would be “independent directors” under the standard described above.
 
The Voting Agreement provides that at such time as certain former holders of Magnum common stock own less than twenty percent (but at least ten percent) of the Common Stock outstanding or the ArcLight Funds own less than ten percent of the Common Stock outstanding, the Stockholder Representative will be entitled to one board nominee only.  The Voting Agreement also provides that at such time as certain former holders of Magnum common stock own less than ten percent of the Common Stock outstanding, the Stockholder Representative will not be entitled to any board nominees.
 
For purposes of the determination of ownership of Common Stock by the relevant former holders of Magnum common stock for the purposes of board nominee rights under the Voting Agreement, (1) the number of shares of Common Stock outstanding is deemed to be equal to the sum of the number of shares of Common Stock outstanding on the date of the Merger Agreement and the number of shares of Common Stock issued in the merger, (2) former Magnum stockholders who have agreed to a “reduced standstill” (described below) will be deemed to no longer own thirty percent of their shares of Common Stock at any applicable time and (3) former Magnum stockholders who have agreed to a “limited standstill” (described below) will be deemed to no longer own seventy percent of their shares of Common Stock at any applicable time.  Once the former Magnum stockholders have lost the right to nominate one or both members of the Issuer’s board of directors, they will not regain such rights regardless of any subsequent acquisitions of Common Stock or any change to the outstanding Common Stock that results in their ownership percentage exceeding the thresholds specified above.
 
Voting Obligations of Certain Magnum Stockholders
 
So long as the Stockholder Representative is entitled to nominate any members to the Issuer’s board of directors, all of the Reporting Persons that are signatories to the Voting Agreement (the "Stockholder Signatories") have agreed to vote all of their shares of Common Stock in favor of the entire slate of directors recommended for election by the Issuer board of directors to the Issuer’s stockholders.
 
 
In addition, so long as the Stockholder Representative is entitled to nominate any members to the Issuer’s board of directors, each of the Stockholder Signatories (other than Caisse and HHMI) have agreed to vote all of their shares of Common stock as recommended by the Issuer’s board of directors in the case of (1) any stockholder proposal submitted for a vote at any meeting of the Issuer’s stockholders and (2) any proposal submitted by the Issuer for a vote at any meeting of the Issuer’s stockholders relating to the appointment of the Issuer’s accountants or an equity compensation plan of the Issuer.
 
“Standstill” Restrictions
 
The ArcLight Funds have agreed that unless invited to do so on an unsolicited basis by the Issuer’s board of directors, neither the ArcLight Funds nor any of their affiliates will, directly or indirectly:
 
 
 
acquire, offer, or propose or seek to acquire, any Issuer securities or options to acquire Issuer securities;
 
 
 
enter into, agree, offer, propose or seek to enter into, or be involved in, any acquisition transaction, merger or other business combination relating to the Issuer or all or substantially all of the Issuer’s assets or businesses;
 
 
 
make, or in any way participate in a solicitation of proxies to vote, or seek to advise or influence any person with respect to the voting of, any Issuer voting securities;
 
 
 
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form, join or participate in a “group” with respect to any Issuer voting securities;
 
 
 
seek, propose or otherwise act alone or in concert with others, to influence or control the Issuer’s management, policies, or board of directors;
 
 
 
enter into any discussions or arrangements with any other person with respect to any of the foregoing activities;
 
 
 
advise, assist, knowingly encourage, act as a financing source for or invest in any other person in connection with any of the foregoing activities; or
 
 
 
disclose any intention or plan inconsistent with any of the foregoing.
 
 
The ArcLight Funds have also agreed that during the standstill period, described below, they will not request that the Issuer or its representatives amend or waive the above listed provisions or take any initiative which would reasonably be expected to require the Issuer to make a public announcement regarding any of the activities specified above or the possibility of the ArcLight Funds or any other person acquiring control of the Issuer.
 
Subject to certain exceptions, the standstill restrictions set forth above will not apply to the ArcLight Funds in the event that (1) the Issuer has entered into a definitive agreement with a third party with respect to a business combination transaction (as defined in the Voting Agreement) or (2) a third party commences a tender offer which if consummated would result in a business combination transaction and the board of directors of the Issuer has either recommended such offer or not rejected such offer within ten business days after the announcement.  If any announced business combination transaction or tender offer is terminated without being consummated, the standstill restrictions will again be applicable to the ArcLight Funds.
 
Each of Cascade, the Citigroup Funds, HHMI and Stanford University has agreed to a “reduced standstill” restriction.  The “reduced standstill” restrictions are similar in scope to the standstill restrictions applicable to the ArcLight Funds, but are binding only on the applicable Magnum stockholders and their “controlled” affiliates and also permit those stockholders to take certain actions in the ordinary course of business and not for the purpose of circumventing the standstill restrictions.  In addition, Caisse has agreed to a “limited standstill” restriction.  The “limited standstill” restrictions are similar in scope to the “reduced standstill” restrictions but permit certain additional actions in the ordinary course of business and not for the purpose of circumventing the standstill restrictions.
 
The standstill obligations applicable to the ArcLight Funds and the other Reporting Persons that have agreed to the “reduced standstill” and “limited standstill” will apply for the period from the effective time of the Merger until the later to occur of (1) the Stockholder Representative no longer being entitled to nominate any members of the Issuer’s board of directors or (2) nine months after the time that the ArcLight Funds and the Reporting Persons that have agreed to the “reduced standstill” and “limited standstill” and their respective affiliates in the aggregate own less than 7.5% of the outstanding shares of Common Stock.
 
Transfer Restrictions
 
Each Stockholder Signatory will be subject to certain restrictions on their ability to transfer shares of the Issuer (including a transaction that changes the economic benefits or risks of ownership) as follows:
 
 
 
no transfers will be permitted for 180 days following the effective time of the Merger;
 
 
 
between 180 days after the effective time of the Merger and 270 days after the effective time of the Merger, up to fifty percent of their shares may be transferred;
 
 
 
between 270 days after the effective time of the Merger and 360 days after the effective time of the Merger, up to seventy-five percent of their shares may be transferred; and
 
 
 
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no restrictions will apply after 360 days after the effective time of the Merger.
 
 
Amendments and Waivers
 
Any provision of the Voting Agreement may be amended or waived if, but only if, such amendment or waiver is in writing and is signed, in the case of an amendment, by the Issuer, the Stockholder Representative and a number of Stockholder Signatories owning at least 66 2/3% of the Common Stock owned by Stockholder Signatories at the applicable time, or in the case of a waiver, by the party against whom the waiver is to be effective.  Amendments to the provisions relating to voting obligations, standstill restrictions, transfer restrictions and amendments to the voting agreement, and any amendment that is adverse to a Stockholder Signatory, require the consent of each stockholder party against whom the amendment is to be effective.
 
Effectiveness and Termination
 
The Voting Agreement became effective at the effective time of the Merger.  After the effective time, the Voting Agreement will terminate on the earlier of (1) the written agreement of the Issuer and the Stockholder Representative and (2) the date, if any, of the termination of the standstill period described above.
 
The foregoing discussion of the Voting Agreement is not intended to be a complete statement of all of the material terms of that agreement and is qualified in its entirety by the agreement itself which is filed herewith as Exhibit 99.2 and is incorporated herein by reference.
 
Except as set forth in this Schedule 13D (including the exhibits incorporated by reference herein), the Reporting Persons have no present plans or proposals that relate to or would result in any of the actions described in Item 4(a) through (j) of Schedule 13D under Rule 13d-1(d).  Each of the Reporting Persons expects to evaluate on a continuing basis its investment in the Issuer and may from time to time acquire or dispose of additional shares of Common Stock or other securities of the Issuer.  Any acquisitions or dispositions will depend upon (i) the price and availability of the Issuer's securities; (ii) subsequent developments concerning the Issuer's business and prospects and the industry in which the Issuer operates; (iii) the applicable Reporting Person's general investment policy; (iv) other investment and business opportunities available to the applicable Reporting Person; (v) general market and economic conditions; (vi) tax considerations and (vii) such other factors as the applicable Reporting Person may consider relevant.  Any such acquisitions or dispositions may be made, subject to applicable law, in open market transactions, privately negotiated transactions or, in the case of dispositions, pursuant to a registration statement.
 
 
Item 5.  Interest in Securities of the Issuer
 
(a) and (b):

The Reporting Persons may be deemed to be a group within the meaning of Section 13(d)(3) of the Act consisting of the Reporting Persons as a result of the facts and circumstances described in Items 2, 4, 5 and 6 of this Schedule 13D.  The Reporting Persons as a group may be deemed beneficially to own in the aggregate 12,185,824 shares of Common Stock, representing approximately 31.5% of the outstanding shares of Common Stock (based on 38,709,396 shares of Common Stock reported by the Issuer as outstanding immediately following the Merger, as advised by the Issuer).  Each of the Reporting Persons disclaims beneficial ownership of the shares of Common Stock held by the other members of such group; provided, however, that (i) ArcLight PEF GP does not disclaim beneficial ownership of the shares held by ArcLight Fund I, (ii) ArcLight PEF GP II does not disclaim beneficial ownership of the shares held by ArcLight Fund II, (iii) ArcLight Capital Holdings does not disclaim beneficial ownership of the shares of Common Stock held by the ArcLight Fund, (iv) Messrs. Revers, Turner and Erhard disclaim beneficial ownership of the shares of Common Stock held by the ArcLight Funds, except to the extent of their respective interests in such funds and (v) Mr. Gates does not disclaim beneficial ownership of the shares of
 
 
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Common Stock held by Cascade.  Mr. Larson, Cascade’s Business Manager, disclaims any beneficial ownership of the shares of Common Stock held by Cascade and Mr. Gates.

ArcLight Fund I has the shared power to vote, direct the voting of, dispose of and direct the disposition of 3,664,357 shares of Common Stock, representing approximately 9.5% of the outstanding shares of Common stock.  Such shares may be deemed to be owned beneficially (solely for the purposes of Rule 13d-3 under the Act) by ArcLight PEF GP and ArcLight Capital Holdings.

ArcLight Fund II has the shared power to vote, direct the voting of, dispose of and direct the disposition of 2,934,305 shares of Common Stock, representing approximately 7.6% of the outstanding shares of Common stock.  Such shares may be deemed to be owned beneficially (solely for the purposes of Rule 13d-3 under the Act) by ArcLight PEF GP II and ArcLight Capital Holdings.

ArcLight PEF GP, as general partner of ArcLight Fund I, and ArcLight Capital Holdings as manager of ArcLight PEF GP, may be deemed to beneficially own the shares of Common Stock held by ArcLight Fund I.  ArcLight PEF GP II, as general partner of ArcLight Fund II, and ArcLight Capital Holdings as manager of ArcLight PEF GP II, may be deemed to beneficially own the shares of Common Stock held by the ArcLight Funds. In addition, Messrs. Revers and Turner, as managers of ArcLight Capital Holdings may be deemed to beneficially own the shares of Common Stock held by the ArcLight Funds.

Cascade has the sole power to vote, direct the voting of, dispose of and direct the disposition of 1,204,326 shares of Common Stock, representing approximately 3.1% of the outstanding shares of Common Stock.  All shares of Common Stock held by Cascade may be deemed to be beneficially owned by William H. Gates III as the sole member of Cascade.  Michael Larson, the Business Manager of Cascade, has voting and investment power with respect to the shares of Common Stock held by Cascade.  Mr. Larson disclaims any beneficial ownership of the shares of Common Stock beneficially owned by Cascade and Mr. Gates.

Caisse has the sole power to vote, direct the voting of, dispose of and direct the disposition of 1,153,898 shares of Common Stock, representing approximately 3.0% of the outstanding shares of Common Stock.

Citigroup Investment has the shared power to vote, direct the voting of, dispose of and direct the disposition of 247,602 shares of Common Stock, representing approximately 0.6% of the outstanding shares of Common stock.

Citigroup Employee Master Fund has the shared power to vote, direct the voting of, dispose of and direct the disposition of 278,126 shares of Common Stock, representing approximately 0.7% of the outstanding shares of Common stock

Citigroup Onshore has the shared power to vote, direct the voting of, dispose of and direct the disposition of 125,566 shares of Common Stock, representing approximately 0.3% of the outstanding shares of Common stock

Citigroup Cayman has the shared power to vote, direct the voting of, dispose of and direct the disposition of 157,330 shares of Common Stock, representing approximately 0.4% of the outstanding shares of Common Stock.

Citigroup PE has the shared power to vote, direct the voting of, dispose of and direct the disposition of 808,624 shares of Common Stock, representing approximately 2.1% of the outstanding shares of Common Stock.

CAI has the shared power to vote, direct the voting of, dispose of and direct the disposition of 808,624 shares of Common Stock, representing approximately 2.1% of the outstanding shares of Common Stock.
 
 
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CII has the shared power to vote, direct the voting of, dispose of and direct the disposition of 808,624 shares of Common Stock, representing approximately 2.1% of the outstanding shares of Common Stock.

Citigroup has the shared power to vote, direct the voting of, dispose of and direct the disposition of 1,166,714 shares of Common Stock, representing approximately 3.0% of the outstanding shares of Common Stock.

HHMI has the sole power to vote, direct the voting of, dispose of and direct the disposition of 803,670 shares of Common Stock, representing approximately 2.1% of the outstanding shares of Common Stock.

Northwestern has the sole power to vote, direct the voting of, dispose of and direct the disposition of 611,320 shares of Common Stock, representing approximately 1.6% of the outstanding shares of Common Stock.

Stanford University has the sole power to vote, direct the voting of, dispose of and direct the disposition of 328,394 shares of Common Stock, representing approximately 0.8% of the outstanding shares of Common Stock.

Mr. Vining has the sole power to vote, direct the voting of, dispose of and direct the disposition of 83,567 shares of Common Stock, representing approximately 0.2% of the outstanding shares of Common Stock.

Mr. Elliott has the sole power to vote, direct the voting of, dispose of and direct the disposition of 62,211 shares of Common Stock, representing approximately 0.2% of the outstanding shares of Common Stock.

Mr. Turnbull has the sole power to vote, direct the voting of, dispose of and direct the disposition of 16,238 shares of Common Stock, representing less than 0.1% of the outstanding shares of Common Stock.

Mr. Verheij has the sole power to vote, direct the voting of, dispose of and direct the disposition of 25,573 shares of Common Stock, representing less than 0.1% of the outstanding shares of Common Stock.

Mr. McQuade has the sole power to vote, direct the voting of, dispose of and direct the disposition of 16,328 shares of Common Stock, representing less than 0.1% of the outstanding shares of Common Stock.

Mr. Spears has the sole power to vote, direct the voting of, dispose of and direct the disposition of 14,585 shares of Common Stock, representing less than 0.1% of the outstanding shares of Common Stock.

Mr. St. Clair has the sole power to vote, direct the voting of, dispose of and direct the disposition of 35,417 shares of Common Stock, representing less than 0.1% of the outstanding shares of Common Stock.

Mr. Bennett has the sole power to vote, direct the voting of, dispose of and direct the disposition of 25,547 shares of Common Stock, representing less than 0.1% of the outstanding shares of Common Stock.

Mr. Francisco. has the sole power to vote, direct the voting of, dispose of and direct the disposition of 39,374 shares of Common Stock, representing approximately 0.1% of the outstanding shares of Common Stock.

 
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(c):  Annex C attached hereto sets forth a summary of the transactions in the Common Stock effected by Citigroup within the past 60 days.

(d) and (e):  Not applicable.

Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer
 
The responses to Item 4 are incorporated herein by reference.
 
 
Registration Rights Agreement

At the effective time of the Merger, the Issuer and the ArcLight Funds entered into a Registration Rights Agreement (the "Registration Rights Agreement").  The Registration Rights Agreement provides the ArcLight Funds with customary registration rights with respect to the newly issued shares of Common Stock.  Subject to customary restrictions and limitations, the ArcLight Funds are entitled to three “demand” and unlimited “piggyback” registration rights under the agreement.  In addition, no registration request may be made prior to 180 days after the effective time of the Merger, no registration statement will be required to be filed pursuant to a demand registration request prior to November 1, 2008 and the aggregate proceeds expected to be received from the sale of the securities requested to be included in a demand registration must be at least $50 million.

Escrow Agreement

At the effective time of the Merger, the Issuer, the Stockholder Representative, and the escrow agent selected by the Issuer and Magnum, entered into an escrow agreement (the "Escrow Agreement") pursuant to which ten percent of the shares of Common Stock issued in the Merger was placed in escrow for one year to secure the indemnification obligations of the designated stockholders of Magnum.  Indemnity claims payable to the Issuer will be paid based on the market value (as defined in the Merger Agreement) at the time of payment of the Common Stock being delivered.  To the extent the Issuer has made claims against the escrow that are still pending on the first anniversary of the effective time of the Merger, a portion of the Common Stock sufficient to cover payment of those claims will be retained in the escrow account until the claims are resolved.  With respect to any matter on which the Issuer stockholders have voting rights, shares held in the escrow account will be voted by the Stockholder Representative subject to the terms of the Voting Agreement.

Letter Agreement

On the Effective Date, each of the Issuer, Magnum, Vining, the ArcLight Funds, Cascade, Caisse, the Citigroup Funds, HHMI, Northwestern and Stanford University entered into a letter agreement (the "Letter Agreement") that provides that following the Initial Lock-up Date, the Second Lock-up Date and the Lock-up Expiration Date each of such Reporting Persons will transfer to Mr. Vining their applicable percentage of shares of Common Stock having a value (determined in accordance with the Letter Agreement) of $1,500,000, $750,000 and $750,000, respectively.

The foregoing discussion of the Registration Rights Agreement, the Escrow Agreement and the Letter Agreement are not intended to be complete statements of all of the material terms of those agreements and are qualified in their entirety by the agreements themselves which are filed herewith as Exhibits 99.3, 99.4 and 99.5 and incorporated by reference herein.  Except as set forth in Item 4 of this Schedule 13D, to the best knowledge of the Reporting Persons, there are no other contracts, arrangements, understandings or relationships (legal or otherwise) between the Reporting Persons and any other person with respect to any securities of the Issuer.

 
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Item 7.  Material to Be Filed as Exhibits
 
Exhibit 99.1:
 
Agreement and Plan of Merger, entered as of April 2, 2008, by and among Patriot Coal Corporation, Magnum Coal Company, Colt Merger Corporation, ArcLight Fund I, and ArcLight Fund II, acting jointly, as stockholder representative. (Incorporated by reference to Exhibit 2.2 to the Registration Statement on Form S-4 of the Issuer filed June 18, 2008.  File No. 333-150897.)
 
Exhibit 99.2:
 
Voting and Standstill Agreement, dated as of April 8, 2008, by and among Patriot Coal Corporation and the Reporting Persons.  (Incorporated by reference to Exhibit 10.48 to the Registration Statement on Form S-4 of the Issuer filed June 18, 2008.  File No. 333-150897.)
 
Exhibit 99.3:
 
Form of Registration Rights Agreement, by and between Patriot Coal Corporation and ArcLight Funds. (Incorporated by reference to Exhibit 10.1 of the Issuers' Current Report on Form 8-K, filed on April 8, 2008).
 
Exhibit 99.4
 
Escrow Agreement, dated July 23, 2008, among Patriot Coal Corporation,  ArcLight Fund I, and ArcLight Fund II, acting jointly, as stockholder representative, and the Escrow Agent named therein.
 
Exhibit 99.5
 
Letter Agreement, dated July 22, 2008.
 
Exhibit 99.6
 
Joint Filing Agreement, dated July 31, 2008, among the Reporting Persons.
 
 
There are no other written agreements, contracts, arrangements, understandings, plans or proposals within the category of those described in Item 7 of the General Instructions to Schedule 13D under the Act.
 
*     *     *
Each of the undersigned is responsible for the accuracy and completeness of the information in this Schedule 13D concerning himself or itself, and is not responsible for the accuracy or completeness of the information in this Schedule 13D concerning any other signatories.

 
42

 
 
SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.


Date:  August 1, 2008


ARCLIGHT ENERGY PARTNERS FUND I, L.P.
By: ArcLight PEF GP, LLC, its
General Partner
By: ArcLight Capital Holdings,
LLC, its Manager
By: _/s/Daniel R. Revers___________________
Name: Daniel R. Revers
Title: Manager
 
 
 

 
 
SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.


Date:  August 1, 2008


ARCLIGHT ENERGY PARTNERS FUND II, L.P.
By: ArcLight PEF GP II, LLC,
its General Partner
By: ArcLight Capital Holdings, LLC,
its Manager
By: _/s/Daniel R. Revers___________________
Name: Daniel R. Revers
Title: Manager
 
 
 

 

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Date:  August 1, 2008


ARCLIGHT PEF GP, LLC

By: ArcLight Capital Holdings, LLC,
its Manager
By: _/s/Daniel R. Revers___________________
Name: Daniel R. Revers
Title: Manager
 
 
 

 
 
SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Date:  August 1, 2008


ARCLIGHT PEF GP II, LLC

By: ArcLight Capital Holdings, LLC,
its Manager
By: _/s/Daniel R. Revers___________________
Name: Daniel R. Revers
Title: Manager
 
 
 

 
 
SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Date:  August 1, 2008


ARCLIGHT CAPITAL HOLDINGS, LLC

By: _/s/Daniel R. Revers___________________
Name: Daniel R. Revers
Title: Manager
 
 
 

 

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Date:  August 1, 2008


_/s/Daniel R. Revers___________________
Daniel R. Revers

 
 

 

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Date:  August 1, 2008



_/s/Robb E. Turner_________________________________
Robb E. Turner

 
 

 
 
SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Date:  August 1, 2008

 


___/s/John F. Erhard_______________________________
John F. Erhard

 
 

 
 
SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Date:  August 1, 2008



CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC
By: __/s/Ghislain Gauthier______________________
Name: Ghislain Gauthier
Title: Senior Vice-President

By: __/s/Cyrille Vittecoq______________________
Name: Cyrille Vittecoq
Title: Vice-President, Investments
 
 
 

 
 
SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Date:  August 1, 2008




CASCADE INVESTMENT, L.L.C.
By: _/s/Michael Larson_________________
Name: Michael Larson
Title: Business Manager
 
 
 

 
 
SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Date:  August 1, 2008



WILLIAM H. GATES III

By __/s/Michael Larson_________________
Name:  Michael Larson (1)
Title:  Attorney-in-fact


 













(1) )   Duly authorized under Special Power of Attorney appointing Michael Larson attorney-in-fact, dated February 3, 2006, by and on behalf of William H. Gates III, filed as Exhibit 99.1 to Cascade Investment, L.L.C.’s Amendment No. 2 to Schedule 13G with respect to Arch Capital Group Ltd. on March 7, 2006, SEC File No. 005-45257, and incorporated by reference herein.
 
 
 

 
 
SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Date:  August 1, 2008


CITIGROUP CAPITAL PARTNERS II 2006
CITIGROUP INVESTMENT, L.P.
By: Citigroup Private Equity LP,
its general partner
By: _/s/Jason Ment__________________
Name: Jason Ment
Title: Secretary
 
 
 

 
 
SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Date:  August 1, 2008



CITIGROUP CAPITAL PARTNERS II EMPLOYEE MASTER
FUND, L.P.
By: Citigroup Private Equity LP, its
general partner
By: _/s/Jason Ment__________________
Name: Jason Ment
Title: Secretary
 
 
 

 
 
SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Date:  August 1, 2008



CITIGROUP CAPITAL PARTNERS II ONSHORE, L.P.
By: Citigroup Private Equity LP,
its general partner
By: _/s/Jason Ment__________________
Name: Jason Ment
Title: Secretary
 
 
 

 
 
SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Date:  August 1, 2008



CITIGROUP CAPITAL PARTNERS II CAYMAN
HOLDINGS, L.P.
By: Citigroup Private Equity LP,
its general partner
By: _/s/Jason Ment__________________
Name: Jason Ment
Title: Secretary
 
 
 

 
 
SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.


Date:  August 1, 2008


CITIGROUP PRIVATE EQUITY LP


By: _/s/Jason Ment__________________
Name: Jason Ment
Title: Secretary
 
 
 

 
 
SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.


Date:  August 1, 2008


CITIGROUP ALTERNATIVE INVESTMENTS LLC



By: _/s/Jason Ment__________________
Name: Jason Ment
Title: Assistant Secretary

 
 

 
 
SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Date:  August 1, 2008



CITIGROUP INVESTMENTS INC.


By: _/s/Millie Kim________________
Name: Millie Kim
Title: Secretary
 
 
 

 
 
SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Date:  August 1, 2008



CITIGROUP INC.


By: _/s/Riqueza V. Feaster______________________
Name: Riqueza V. Feaster
Title: Assistant Secretary
 
 
 

 

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Date:  August 1, 2008



HOWARD HUGHES MEDICAL INSTITUTE
By: _/s/Craig A. Alexander_________________
Name: Craig A. Alexander
Title: Vice President and General Counsel
 
 
 

 

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.


Date:  August 1, 2008


THE NORTHWESTERN MUTUAL LIFE INSURANCE
COMPANY
By: __/s/Howard Stern______________________
Name: Howard Stern
Title: Its Authorized Representative
 
 
 

 
 
SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Date:  August 1, 2008


THE BOARD OF TRUSTEES OF THE LELAND STANFORD
JUNIOR UNIVERSITY
By: The Stanford Management Company,
          a division thereof

By:  __/s/Mark H. Hayes________________
Name:  Mark H. Hayes
Title: Manager of Natural
Resources Investments
 
 
 

 
 
SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Date:  August 1, 2008



__/s/Paul Vining___________________________
Paul Vining

 
 

 
 
SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.


Date:  August 1, 2008



__/s/Timothy Elliott________________
Timothy Elliott
 
 
 

 
 
SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Date:  August 1, 2008



__/s/David Turnbull___________________________
David Turnbull
 
 
 

 
 
SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Date:  August 1, 2008



_/s/Richard Verheij____________________________
Richard Verheij
 
 
 

 
 
SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.


Date:  August 1, 2008


__/s/Tom McQuade___________________________
Tom McQuade
 
 
 

 
 
SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.


Date:  August 1, 2008


_/s/B. Scott Spears____________________________
B. Scott Spears
 
 
 

 
 
SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.


Date:  August 1, 2008


_/s/Keith St. Clair____________________________
Keith St. Clair
 
 
 

 
 
SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.


Date:  August 1, 2008


__/s/Robert Bennett___________________________
Robert Bennett
 
 
 

 
 
SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.


Date:  August 1, 2008


_/s/Dwayne Francisco____________________________
Dwayne Francisco
 
 
 

 

Annex A

DIRECTORS AND EXECUTIVE OFFICERS OF
CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC

The name, principal occupation and citizenship of each of the directors and executive officers of Caisse de Dépôt et Placement Du Québec are listed below.  Unless otherwise indicated below,  the principal business address of each of the directors and executive officers of Caisse de Dépôt et Placement Du Québec is 1000, place Jean-Paul-Riopelle, Montréal, Québec, H2Z 2B.

Name
Principal Occupation or Employment
Citizenship
Mr. Pierre Brunet
Chairman of the Board
Canadian
Mr. Richard Guay
 
Director
Chief Investment Officer
Interim President and Chief Executive Officer
Canadian
Dr. Yvan Allaire
Director of Caisse
Canadian
Madam Christiane Bergevin
Director of Caisse
Canadian
Madam Claudette Carbonneau
Director of Caisse
Canadian
Madam Louise Charette
Director of Caisse
Canadian
Mr. Steven M. Cummings
Director of Caisse
Canadian
Mr. Alban D’Amours
Director of Caisse
Canadian
Madam Jocelyne Dagenais
Director of Caisse
Canadian
Madam Sylvie Dillard
Director of Caisse
Canadian
Mr. Claude Garcia
Director of Caisse
Canadian
Mr. A. Michel Lavigne
Director of Caisse
Canadian
 
 
 

 
 
Name
Principal Occupation or Employment
Citizenship
Mr. Henri Massé
Director of Caisse
Canadian
Madam Ouma Sananikone
Director of Caisse
Australian
Mr. André Trudeau
Director of Caisse
Canadian
Mr. Normand Provost
 
Executive Vice-President
Private Equity
Canadian
Mrs Suzanne Masson
 
Executive Vice-President
Corporate Affairs and Secretary
Canadian
Mr. Robert W. Desnoyers
 
Executive Vice-President
Human Resources and Organizational Development
Canadian
Mr. V.P. Pham
 
Executive Vice-President
Information Technology
Canadian
Mr. François Grenier
 
Executive Vice-President
Equity Markets
Canadian
Madam Susan Kudzman
 
Executive Vice-President
Depositors and Risk
Canadian
Mr. Christian Pestre
 
Executive Vice-President
and Chief Strategist
American
Mr. Fernand Perreault
 
Executive Vice-President
Real Estate
Canadian
Mr. Ghislain Parent
 
Executive Vice-President
Finance and Operations
Canadian
Mr. Michel Malo
 
Executive Vice-President
Hedge Funds
Canadian
Mr. Philippe Ithurbide
 
Executive Vice-President
Fixed Income and Currencies
Canadian

 
 

 


DIRECTORS AND EXECUTIVE OFFICERS OF
THE CITIGROUP ENTITIES

The following sets forth the name, principal occupation, and citizenship of each of the managers and officers of Citigroup Alternative Investments LLC.  Unless otherwise indicated below, the principal business address of each of the directors and executive officers of Citigroup Alternative Investments LLC is 731 Lexington Avenue, 26th Floor, New York, New York 10022.

Name
Principal Occupation or Employment
Citizenship
William A. Arnold
Manager, Chief Financial Officer
United States
Jonathan Dorfman
 
Manager
United States
Edward J. Kelly, III,
 
Manager, Chief Executive Officer and President
United States
Millie Kim
Manager, Secretary & General Counsel
United States
James O’Brien
Manager
United States
Fidel Andueza Retegui
Partner, Citi Infrastructure Investors
Spain
Craig Barrack
Assistant Secretary
United States
Juan Bejar Ochoa
Co-Head, Citi Infrastructure Investors
Spain
Don Callahan
Chief Administrative Officer
United States
Colin Campbell
Partner, Citi Infrastructure Investors
United Kingdom
John-George Duthie-Jackson
Partner Citi Infrastructure Investors
United Kingdom
Michael Froman
Head of Infrastructure and Sustainable Development Investments
United States
 
 
 

 
 
Name
Principal Occupation or Employment
Citizenship
Felicity Gates
Co-Head, Citi Infrastructure Investors
Australia
Trudi Gilligan
Assistant Secretary
United States
Paul Golding
Assistant Secretary
Canada
John Havens
Chairman
United States
Gage Johnson
Assistant Secretary
United States
Jacob Lew
Chief Operating Officer
United States
Carolyn Luxemburg
Assistant Secretary
United States
Jason Ment
Assistant Secretary
United States
Marie Noble
Assistant Secretary
United States
Raymond Nolte
Chief Executive Officers of CAI Hedge Fund Management Group
United States
Grant Patrick
Operating Officer for Sales, Marketing, Research and Product Development
 
United States
Sonia Plata
Assistant Secretary
United States
Ihor Rakowsky
Assistant Secretary
United States
Richard Roelofs
Assistant Secretary
United States
Leo A.Viola
Controller
United States

 
 

 

 
The following sets forth the name, principal occupation, and citizenship of each of the directors and executive officers of Citigroup Inc.

Name and Title
Principal Occupation
Citizenship
C. Michael Armstrong, Director
Chairman, Board of Trustees
Johns Hopkins Medicine
Health Systems Corporation and Hospital
c/o Citigroup Inc.
399 Park Ave
New York, NY 10022
 
United States
Alain J. P. Belda, Director
Chairman
Alcoa Inc.
390 Park Avenue
New York, NY 10022
 
Brazil & Spain
Sir Winfried F. W. Bischoff, Chairman
Chairman
Citigroup, Inc.
399 Park Ave
New York, NY 10022
 
United Kingdom and Germany
Kenneth T. Derr, Director
Chairman, Retired
Chevron Corporation
345 California Street
San Francisco, CA 94104
 
United States
John M. Deutch, Director
Institute Professor
Massachusetts Institute of Technology
77 Massachusetts Avenue
Cambridge, MA 02139
 
United States
Roberto Hernandez Ramirez, Director
Chairman of the Board
Banco Nacional de Mexico
Actuario Roberto Medellin No. 800
Col. Santa Fe, 01210
Mexico City, Mexico
 
Mexico
Andrew N. Liveris,
Director
Chairman and Chief Executive Officer
The Dow Chemical Company
2030 Dow Center
Midland, MI 48674
 
Australia
Anne M. Mulcahy,
Director
Chairman and Chief Executive Officer
Xerox Corporation
45 Glover Avenue
P.O. Box 4505
Norwalk, CT  06856
 
United States
Vikram Pandit,
Director and Executive Officer
Director and Chief Executive Officer
Citigroup Inc.
399 Park Avenue
New York, NY 10022
 
 
United States
 
 
 

 
 
Richard D. Parsons,
Director
Chairman
Time Warner Inc.
One Time Warner Center
New York, NY 10019
United States
Lawrence R. Ricciardi,
Director
Former General Counsel
IBM Corporation
c/o Citigroup, Inc.
399 Park Avenue
New York, NY 10022
 
United States
Dr. Judith Rodin,
Director
President
The Rockefeller Foundation
420 Fifth Avenue
New York, NY 10018
 
United States
Robert E. Rubin,
Director and Executive Officer
Chairman of the Executive Committee and
Member of the Office of the Chairman
Citigroup Inc.
399 Park Avenue
New York, NY 10022
 
United States
Robert L. Ryan, Director
Chief Financial Officer, Retired, Medtronic Inc.
c/o Citigroup, Inc.
399 Park Avenue
New York, NY 10022
United States
Franklin A. Thomas,
Director
Consultant
The Study Group
380 Lexington Avenue
New York, NY 10168
United States
Shirish Apte,
Executive Officer
Chief Executive Officer
Central & Eastern European Region
Citigroup Inc.
33 Canada Square
Canary Wharf
London E14 5LB
United Kingdom
United Kingdom
Ajay Banga,
Executive Officer
Chairman and Chief Executive Officer
Global Consumer Group-International
Citigroup Inc.
399 Park Avenue
New York, NY 10022
 
India
Don Callahan,
Executive Officer
Chief Administrative Officer
Citigroup Inc.
399 Park Avenue
New York, NY 10022
 
United States
Gary L. Crittenden,
Executive Officer
Chief Financial Officer
Citigroup Inc.
399 Park Avenue
New York, NY 10022
 
United States
Terri Dial,
Executive Officer
Chief Executive Officer, Citi Consumer Banking North America
Global Head, Consumer Strategy
Citigroup Inc.
399 Park Avenue
New York, NY 10022
 
United States
 
 
 

 
 
James A. Forese,
Executive Officer
Head, Global Capital Markets
Markets & Banking
Institutional Clients Group
388 Greenwich Street
New York, NY  10026
 
United States
Steven J. Freiberg,
Executive Officer
Chairman and Chief Executive Officer
Global Consumer Group-North America
Citigroup Inc.
399 Park Avenue
New York, NY 10022
 
United States
John C. Gerspach,
Executive Officer
Controller and Chief Accounting Officer
Citigroup Inc.
399 Park Avenue
New York, NY 10022
 
United States
John Havens,
Executive Officer
Chief Executive Officer
Institutional Clients Group
388 Greenwich Street
New York, NY  10026
 
United States
Michael S. Helfer,
Executive Officer
General Counsel and Corporate Secretary
Citigroup Inc.
399 Park Avenue
New York, NY 10022
 
United States
Lewis B, Kaden,
Executive Officer
Vice Chairman and Chief Administrative Officer
Citigroup Inc.
399 Park Avenue
New York, NY 10022
United States
Edward J. Kelly, III,
Executive Officer
President and Chief Executive Officer
Citi Alternative Investments
731 Lexington Avenue
New York, NY 10022
 
United States
Kevin Kessinger,
Executive Officer
Chief Operations & Technology Officer
Citigroup Inc.
666 Fifth Avenue
New York, NY 10103
 
United States
Sallie L. Krawcheck,
Executive Officer
Chief Financial Officer
Citigroup Inc.
399 Park Avenue
New York, NY 10022
 
 
 
United States
Brian Leach,
Executive Officer
Senior Risk Officer
Citigroup Inc.
399 Park Avenue
New York, NY 10022
 
 
United States
 
 
 

 
 
Manuel Medina-Mora, Executive Officer
Chairman and Chief Executive Officer
Latin America and Mexico
Act. Roberto Medellin 800
Edificio Sur. 5 piso
Col. Sta FE/ C.P. 01210
Mexico, D.F.
 
Mexico
William R. Rhodes, Executive Officer
Senior Vice Chairman
Citigroup Inc.
399 Park Avenue
New York, NY 10022
 
United States
Stephen R. Volk, Executive Officer
Vice Chairman
Citigroup Inc.
399 Park Avenue
New York, NY 10022
 
United States
 

 
 
 

 
 
TRUSTEES AND EXECUTIVE OFFICERS OF
HHMI

The name and principal occupation of each of the trustees and executive officers of HHMI are listed below.  Unless otherwise indicated below, the principal business address of each of the trustees and executive officers of HHMI is c/o 4000 Jones Bridge Road, Chevy Chase, MD 20815-6789.

Trustees

James A. Baker, III, Esq. –  Senior Partner, Baker & Botts LLP

Charlene Barshefsky – Attorney, Senior International Partner, WilmerHale LLP

Joseph L. Goldstein, M.D. - Regental Professor and Chairman
Department of Molecular Genetics, University of Texas Southwestern Medical Center at Dallas

Hanna H. Gray, Ph.D. - President Emeritus and Harry Pratt Judson Distinguished Service Professor of History, The University of Chicago

Garnett L. Keith - SeaBridge Investment Advisors

Paul Nurse, F.R.S. – President, The Rockefeller University (**Citizen of the United Kingdom)

Kurt L. Schmoke, Esq. – Dean, Howard University School of Law

Anne M. Tatlock-- Retired Chairman and CEO Fiduciary Trust Company International

Executive Officers

Thomas R. Cech, Ph.D., President

Craig A. Alexander, Vice President and General Counsel, Secretary

Peter J. Bruns, Ph.D.,  Vice President for Grants and Special Programs

David A. Clayton, Ph.D., Vice President for Research Operations

Joseph D. Collins, Vice President, Information Technology

Jack E. Dixon, Ph.D., Vice President and Chief Scientific Officer

Edward J. Palmerino, Vice President for Finance, Treasurer

Avice A. Meehan, Vice President for Communications and Public Affairs

Gerald M. Rubin, Ph.D. ,Vice President and Director, Janelia Farm Research Campus

Landis Zimmerman ,  Vice President and Chief Investment Officer

Heidi E. Henning,  Assistant Secretary

Susan S. Plotnick,  Assistant Treasurer

Robert C. Mullins, Controller
 
 
 

 

 
Marion M. Howard, Assistant Controller


 
 

 
 
TRUSTEES AND EXECUTIVE OFFICERS OF
NORTHWESTERN

The name and principal occupation  of each of the trustees and executive officers of Northwestern are listed below.  Unless otherwise indicated below,  the principal business address of each of the trustees and executive officers of Northwestern is c/o 720 East Wisconsin Avenue, Milwaukee, WI 53202.

Board of Trustees

Facundo L. Bacardi, Chairman, Bacardi Limited, Coconut Grove, FL

Robert C. Buchanan, Retired Chairman, Fox Valley Corporation, Appleton, WI

George A. Dickerman, Retired Chairman and CEO, Spalding Sports Worldwide, Longmeadow, MA

David J. Drury, President, Poblocki Sign Company, LLC, Milwaukee, WI

Connie K. Duckworth, President, ARZU, Lake Forest, IL

David A. Erne, Attorney, Milwaukee, WI

James P. Hackett, President and CEO, Steelcase Inc., Grand Rapids, MI

Hans Helmerich, President and CEO, Helmerich & Payne, Inc., Tulsa, OK

Dale E. Jones, Managing Partner, CEO and Board Practice, Americas, Heidrick & Struggles
International, Inc., Atlanta, GA

Stephen F. Keller, Attorney, Los Angeles, CA; former Chairman, The Santa Anita Companies,
                               Arcadia, CA

Margery Kraus, President and CEO, APCO Worldwide, Washington, DC

David J. Lubar, President, Lubar & Co., Milwaukee, WI

Ulice Payne, Jr., President and CEO, Addison-Clifton, LLC, Brookfield, WI

H. Mason Sizemore, Jr., Retired President and COO, The Seattle Times, Seattle, WA

Peter M. Sommerhauser, Attorney, Milwaukee, WI

John E. Steuri, Retired Chairman and CEO, ALLTEL Information Services, Inc., Little Rock, AR

John J. Stollenwerk, Chairman, Allen-Edmonds Shoe Corp., Port Washington, WI

Barry L. Williams, President and CEO, Williams Pacific Ventures, Inc., San Francisco, CA

Kathryn D. Wriston, Director of various corporations, New York, NY

Edward J. Zore, President and CEO, Northwestern Mutual, Milwaukee, WI


Executive Officers
 
 
 

 

Michael G. Carter
Vice President, Chief Financial Officer
Eric P. Christophersen
Vice President, Compliance/Best Practices
David D Clark.
Senior Vice President-Real Estate
Gloster B Current
Vice President-Corporate Affairs and Assistant to President
Jefferson DeAngelis
President, Mason Street Advisors
Mark G. Doll
Senior Vice President and Chief Investment Officer
Christina H. Fiasca
Senior Vice President-Agency Services
Tim Gerend
Vice President, Field Compensation and Planning
Kimberly Goode
Vice President Communications
Karl G. Gouverneur
Vice President-Information Systems
John M. Grogan,
Vice President-Wealth Management
Thomas C. Guay
Vice President-New Business
Gary M. Hewitt
Vice President and Treasurer
J. Chris Kelly
Vice President and Controller
William C. Koenig,
Senior Vice President and Chief Actuary
John L. Kordsmeier
Vice President-Enterprise Solutions
Susan A. Lueger
Vice President-Human Resources
Jeffrey J. Lueken
Senior Vice President-Securities
Jean M. Maier
Senior Vice President-Enterprise Operations
Raymond J. Manista,
Secretary and General Counsel
Meridee J. Maynard
Senior Vice President, Life Product
Gregory C. Oberland,
Executive Vice President-Insurance & Technology
Kathleen A. Oman,
Vice President-Policyowner Services
Gary A. Poliner
Executive Vice President-Investment Products & Services
Marcia Rimai
Executive Vice President-Chief Administrative Officer
Bethany M. Rodenhuis
Vice President-Corporate Planning
Timothy G. Schaefer
Chief Information Officer
John E. Schlifske
Executive Vice President-Affiliate Investment
Calvin R. Schmidt,
Vice President, Investment Product Operations
Todd M. Schoon
Senior Vice President, Agencies
David W. Simbro
Vice President-Disability Income
Paul J. Steffen,
Vice President, Agencies
Donald G. Tyler
Vice President-IPS Products and Sales
Martha M. Valerio
Vice President-Information Systems
Conrad C. York
Vice President, Marketing
Michael L. Youngman
Vice President-Government Relations
Edward J. Zore
President and Chief Executive Officer
 
 
 

 
 
Annex B

On July 28, 2003, Citigroup settled enforcement proceedings related to the manipulation of Enron's and Dynegy’s financial statements. The Commission found that Citigroup knew or should have known that the acts or omissions described in the Order would contribute to Enron's and Dynegy’s violations of Exchange Act Section 10(b) and Exchange Act Rule 10b-5. Consequently, Citigroup was found to be a cause of Enron's and Dynegy’s violations within the meaning of Exchange Act Section 21C. Citigroup consented to an order to cease and desist from committing or causing any violation of the antifraud provisions of the federal securities laws, and agreed to pay $120 million as disgorgement, interest and penalty.

On March 23, 2005, the SEC entered an administrative and cease-and-desist order against CGMI. The SEC order found that CGMI willfully violated Section 17(a)(2) of the Securities Act and Rule 10b-10 promulgated under the Exchange Act. Specifically, the order found that there were two distinct disclosure failures by CGMI in the offer and sale of mutual fund shares to its customers. Based on these findings, the order censured CGMI, required that CGMI cease and desist from committing or causing violations and future violations of Section 17(a) of the Securities Act and Exchange Act Rule 10b-10, and required that CGMI pay a $20 million civil money penalty.

In a related proceeding on March 22, 2005, the NASD accepted a Letter of Acceptance, Waiver and Consent dated March 18, 2005 (the “AWC”) that had been submitted by CGMI. Without admitting or denying the findings, CGMI accepted and consented, prior to a hearing and without an adjudication of any issue of law or fact, to the entry of findings by NASD. Based on its findings and with CGMI’s consent, the NASD censured CGMI and fined it $6.25 million. In the AWC, CGMI also agreed to complete certain undertakings, including retaining an Independent Consultant, among other things, to conduct a comprehensive review of the completeness of its disclosures regarding the differences in mutual fund share classes and the policies and procedures relating to CGMI’s recommendations to its customers of different class shares of mutual funds.

On May 31, 2005, the SEC issued an order in connection with the settlement of an administrative proceeding against Smith Barney Fund Management LLC (“SBFM”), a former subsidiary of Citigroup, and CGMI, relating to the appointment of an affiliated transfer agent for the Smith Barney family of mutual funds managed by SBFM (the “Affected Funds”).

The SEC order finds that SBFM and CGMI willfully violated Section 206(1) of the Investment Advisers Act of 1940, as amended, and the rules promulgated thereunder (the “Advisers Act”). Specifically, the order found that SBFM and CGMI knowingly or recklessly failed to disclose to the boards of the Affected Funds in 1999 when proposing a new transfer agent arrangement with an affiliated transfer agent that: First Data Investors Services Group (“First Data”), the Affected Funds’ then-existing transfer agent, had offered to continue as transfer agent and do the same work for substantially less money than before; and that Citigroup Asset Management (“CAM”), the former Citigroup business unit that, at the time, included the Affected Funds’ investment manager and other investment advisory companies, had entered into a side letter with First Data under which CAM agreed to recommend the appointment of First Data as sub-transfer agent to the affiliated transfer agent in exchange for, among other things, a guarantee by First Data of specified amounts of asset management and investment banking fees to CAM and CGMI. The order also found that SBFM and CGMI willfully violated Section 206(2) of the Advisers Act by virtue of the omissions discussed above and other misrepresentations and omissions in the materials provided to the Affected Funds’ boards, including the failure to make clear that the affiliated transfer agent would earn a high profit for performing limited functions while First Data continued to perform almost all of the transfer agent functions, and the suggestion that the proposed arrangement was in the Affected Funds’ best interests and that no viable alternatives existed. SBFM and CGMI do not admit or deny any wrongdoing or liability. The settlement does not establish wrongdoing or liability for purposes of any other proceeding.

The SEC censured SBFM and CGMI and ordered them to cease and desist from violations of Sections 206(1) and 206(2) of the Advisers Act. The order required Citigroup to pay $208.1 million, including $109 million in disgorgement of profits, $19.1 million in interest, and a civil money
 
 
 

 
 
penalty of $80 million. Approximately $24.4 million has already been paid to the Affected Funds, primarily through fee waivers. The remaining $183.7 million, including the penalty, has been paid to the U.S. Treasury and will be distributed pursuant to a plan submitted for the approval of the SEC. At this time, there is no certainty as to how the above-described proceeds of the settlement will be distributed, to whom such distributions will be made, the methodology by which such distributions will be allocated, and when such distributions will be made. The order also required that transfer agency fees received from the Affected Funds since December 1, 2004, less certain expenses, be placed in escrow and provided that a portion of such fees may be subsequently distributed in accordance with the terms of the order. On April 3, 2006, an aggregate amount of approximately $9 million held in escrow was distributed to the Affected Funds.

The order required SBFM to recommend a new transfer agent contract to the Affected Fund’s boards within 180 days of the entry of the order; if a Citigroup affiliate submitted a proposal to serve as transfer agent or sub-transfer agent, SBFM and CGMI would have been required, at their expense, to engage an independent monitor to oversee a competitive bidding process. On November 21, 2005, and within the specified timeframe, the Affected Funds’ Boards selected a new transfer agent for the Affected Fund. No Citigroup affiliate submitted a proposal to serve as transfer agent. Under the order, SBFM also must comply with an amended version of a vendor policy that Citigroup instituted in August 2004.
 
 
 

 
 
Annex C

The following is a list of transactions in shares of the Issuer’s Common Stock, which to the best knowledge of Citigroup Inc., have been effected in the past 60 days in the ordinary course of business.  Citigroup Inc., through its subsidiaries, engaged in the following open market transactions, which are summarized below, to report (i) the total amount of shares that were the subject of transactions effected on each day and (ii) the lowest and highest price per share at which the transactions were effected:


Description of Security
Purchase (P) / Sale (S)
Date
Quantity
Low ($)
High ($)
Common Stock
P
5/23/2008
51,681
$92.87
$97.11
Common Stock
S
5/23/2008
28,223
$92.22
$97.11
Common Stock
SS
5/23/2008
27,815
$94.39
$96.65
Common Stock
P
5/27/2008
90,342
$93.31
$94.91
Common Stock
S
5/27/2008
31,168
$93.31
$95.39
Common Stock
SS
5/27/2008
30,021
$93.62
$94.75
Common Stock
P
5/28/2008
61,672
$91.60
$97.51
Common Stock
S
5/28/2008
38,222
$91.60
$97.70
Common Stock
SS
5/28/2008
18,800
$94.85
$95.80
Common Stock
P
5/29/2008
145,011
$97.14
$100.50
Common Stock
S
5/29/2008
34,852
$96.09
$100.20
Common Stock
SS
5/29/2008
20,700
$98.60
$99.58
Common Stock
P
5/30/2008
64,312
$100.61
$108.13
Common Stock
S
5/30/2008
38,560
$101.65
$108.13
Common Stock
SS
5/30/2008
32,100
$105.10
$105.80
Common Stock
P
6/2/2008
136,104
$109.26
$120.19
Common Stock
S
6/2/2008
115,666
$109.26
$120.23
Common Stock
SS
6/2/2008
77,415
$114.20
$120.23
Common Stock
P
6/3/2008
317,114
$118.00
$125.82
Common Stock
S
6/3/2008
149,601
$118.00
$125.19
Common Stock
SS
6/3/2008
196,369
$117.66
$125.37
Common Stock
P
6/4/2008
76,131
$118.40
$124.48
Common Stock
S
6/4/2008
59,905
$118.16
$124.20
Common Stock
SS
6/4/2008
20,621
$118.15
$124.27
Common Stock
P
6/5/2008
84,250
$121.40
$134.78
Common Stock
S
6/5/2008
51,150
$121.00
$134.77
Common Stock
SS
6/5/2008
21,425
$121.01
$134.45
Common Stock
P
6/6/2008
205,989
$135.00
$142.90
Common Stock
S
6/6/2008
59,229
$135.00
$142.59
Common Stock
SS
6/6/2008
145,437
$135.05
$142.17
Common Stock
P
6/9/2008
46,122
$134.28
$140.23
Common Stock
S
6/9/2008
37,404
$133.85
$140.23
Common Stock
SS
6/9/2008
5,727
$134.65
$139.93
Common Stock
P
6/10/2008
60,676
$130.50
$140.31
Common Stock
S
6/10/2008
41,098
$130.50
$139.86
Common Stock
SS
6/10/2008
18,214
$131.92
$139.11
Common Stock
P
6/11/2008
59,306
$135.24
$141.39
Common Stock
S
6/11/2008
14,001
$134.41
$141.12
Common Stock
SS
6/11/2008
22,350
$135.12
$139.88
 
 
 

 
 
Common Stock
P
6/12/2008
113,329
$137.00
$145.50
Common Stock
S
6/12/2008
61,992
$137.36
$145.56
Common Stock
SS
6/12/2008
5,005
$137.36
$141.56
Common Stock
P
6/13/2008
7,753
$139.78
$149.89
Common Stock
S
6/13/2008
9,001
$139.00
$149.89
Common Stock
SS
6/13/2008
475
$143.01
$143.14
Common Stock
P
6/16/2008
34,687
$151.00
$156.19
Common Stock
S
6/16/2008
8,788
$150.91
$156.00
Common Stock
SS
6/16/2008
25,800
$151.86
$155.88
Common Stock
P
6/17/2008
72,822
$152.00
$156.00
Common Stock
S
6/17/2008
22,988
$152.00
$156.00
Common Stock
SS
6/17/2008
47,400
$153.30
$153.66
Common Stock
P
6/18/2008
67,267
$148.25
$161.77
Common Stock
S
6/18/2008
40,261
$147.23
$161.39
Common Stock
SS
6/18/2008
349
$148.82
$153.95
Common Stock
P
6/19/2008
38,899
$148.34
$164.45
Common Stock
S
6/19/2008
19,520
$148.80
$164.45
Common Stock
SS
6/19/2008
201
$151.00
$160.20
Common Stock
P
6/20/2008
113,794
$50.00
$154.17
Common Stock
S
6/20/2008
73,529
$25.00
$154.00
Common Stock
SS
6/20/2008
13,200
$65.00
$149.50
Common Stock
P
6/23/2008
41,900
$144.41
$152.65
Common Stock
S
6/23/2008
21,498
$144.40
$152.19
Common Stock
SS
6/23/2008
200
$150.37
$150.37
Common Stock
P
6/24/2008
123,776
$138.26
$147.90
Common Stock
S
6/24/2008
41,582
$138.26
$147.00
Common Stock
SS
6/24/2008
83,100
$142.19
$145.46
Common Stock
P
6/25/2008
69,825
$128.28
$140.00
Common Stock
S
6/25/2008
115,426
$128.20
$140.58
Common Stock
SS
6/25/2008
16,600
$131.71
$140.05
Common Stock
P
6/26/2008
40,954
$135.54
$146.00
Common Stock
S
6/26/2008
35,225
$135.50
$146.10
Common Stock
P
6/27/2008
46,159
$144.00
$152.98
Common Stock
S
6/27/2008
34,751
$143.31
$153.00
Common Stock
SS
6/27/2008
4,400
$144.00
$150.51
Common Stock
P
6/30/2008
50,070
$149.10
$155.00
Common Stock
S
6/30/2008
34,525
$149.27
$155.67
Common Stock
SS
6/30/2008
18,420
$152.32
$153.31
Common Stock
P
7/1/2008
46,876
$148.10
$155.06
Common Stock
S
7/1/2008
38,987
$147.56
$155.06
Common Stock
SS
7/1/2008
1,720
$148.31
$153.90
Common Stock
P
7/2/2008
208,311
$130.00
$151.22
Common Stock
S
7/2/2008
137,119
$129.87
$151.22
Common Stock
SS
7/2/2008
1,408
$131.31
$148.00
Common Stock
P
7/3/2008
212,813
$119.26
$129.60
Common Stock
S
7/3/2008
187,100
$118.87
$129.71
Common Stock
SS
7/3/2008
135,100
$121.35
$127.88
Common Stock
P
7/7/2008
38,251
$125.27
$135.00
Common Stock
S
7/7/2008
29,316
$124.30
$135.00
Common Stock
SS
7/7/2008
15,013
$129.46
$134.62
 
 
 

 
 
Common Stock
P
7/8/2008
135,255
$112.31
$126.26
Common Stock
S
7/8/2008
197,066
$113.00
$126.26
Common Stock
SS
7/8/2008
7,602
$112.40
$124.00
Common Stock
P
7/9/2008
48,249
$123.50
$132.34
Common Stock
S
7/9/2008
62,824
$123.29
$132.67
Common Stock
SS
7/9/2008
3,941
$125.43
$131.83
Common Stock
P
7/10/2008
29,479
$115.31
$130.37
Common Stock
S
7/10/2008
23,538
$115.44
$129.43
Common Stock
SS
7/10/2008
705
$119.59
$129.97
Common Stock
P
7/11/2008
48,659
$127.21
$136.60
Common Stock
S
7/11/2008
80,115
$127.21
$137.89
Common Stock
SS
7/11/2008
2,854
$127.29
$136.39
Common Stock
P
7/14/2008
14,938
$134.73
$141.78
Common Stock
S
7/14/2008
14,079
$135.01
$141.00
Common Stock
SS
7/14/2008
2,900
$136.22
$138.83
Common Stock
P
7/15/2008
16,757
$120.86
$136.48
Common Stock
S
7/15/2008
86,297
$120.68
$136.48
Common Stock
SS
7/15/2008
342
$128.00
$136.00
Common Stock
P
7/16/2008
99,380
$130.35
$142.50
Common Stock
S
7/16/2008
219,747
$131.52
$142.50
Common Stock
SS
7/16/2008
61,020
$131.66
$142.24
Common Stock
P
7/17/2008
89,401
$109.61
$135.85
Common Stock
S
7/17/2008
204,393
$109.81
$136.00
Common Stock
SS
7/17/2008
27,135
$113.07
$134.29
Common Stock
P
7/18/2008
75,870
$107.10
$130.00
Common Stock
S
7/18/2008
67,725
$100.00
$117.07
Common Stock
SS
7/18/2008
13,600
$108.22
$116.48
Common Stock
P
7/21/2008
185,640
$107.77
$122.12
Common Stock
S
7/21/2008
154,180
$106.74
$122.61
Common Stock
SS
7/21/2008
137,800
$108.75
$120.15
Common Stock
P
7/22/2008
235,606
$109.02
$119.75
Common Stock
S
7/22/2008
64,709
$109.02
$119.75
Common Stock
SS
7/22/2008
166,530
$111.61
$113.51
Common Stock
P
7/23/2008
304,400
$109.60
$119.88
Common Stock
S
7/23/2008
240,399
$109.87
$120.67
Common Stock
SS
7/23/2008
22,279
$114.15
$120.70
Common Stock
P
7/24/2008
148,153
$110.78
$119.13
Common Stock
S
7/24/2008
112,684
$109.87
$119.13
Common Stock
SS
7/24/2008
21,053
$111.79
$114.84



EX-99.4 2 ex99-4.htm EXHIBIT 99.4 Unassociated Document

Exhibit 99.4
 
ESCROW AGREEMENT
 
ESCROW AGREEMENT dated July 23, 2008 (this “Agreement”) among Patriot Coal Corporation, a corporation organized under the laws of the State of Delaware (“Parent”), ArcLight Energy Partners Fund I, L.P. and ArcLight Energy Partners Fund II, L.P., acting jointly (the “Stockholder Representative”), and Sovereign Bank, as escrow agent (the “Escrow Agent”).
 
W I T N E S S E T H:
 
WHEREAS, Parent, Colt Merger Corporation, a Delaware corporation and a wholly owned subsidiary of Parent (“Merger Subsidiary”), Magnum Coal Company, a Delaware corporation (the “Company”), and the Stockholder Representative have entered into an Agreement and Plan of Merger dated as of April 2, 2008 (as amended from time to time, the “Merger Agreement”), pursuant to which, among other things, Merger Subsidiary will merge with and into the Company, and the Company will become a wholly owned subsidiary of Parent, in each case upon the terms and subject to the conditions of the Merger Agreement (capitalized terms used herein but not otherwise defined herein shall have the meanings ascribed to them in the Merger Agreement);
 
WHEREAS, the Designated Stockholders have appointed ArcLight Energy Partners Fund I, L.P. and ArcLight Energy Partners Fund II, L.P., acting jointly, as the Stockholder Representative, and the Stockholder Representative has accepted the appointment to act on behalf of the Stockholders for purposes of this Agreement and as set forth in the Merger Agreement;
 
WHEREAS, it is contemplated under the Merger Agreement that Parent will deposit into escrow at the Closing the Escrow Shares, to be held and disbursed by the Escrow Agent in accordance with this Agreement and the Merger Agreement;
 
WHEREAS, a copy of the Merger Agreement has been delivered to the Escrow Agent, and the Escrow Agent is willing to act as the Escrow Agent under this Agreement; and
 
WHEREAS, the Escrow Agent will hold the Escrow Shares in a separate escrow account (the “Escrow Account”) pursuant to this Agreement.
 
NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration (the receipt and sufficiency of which is hereby acknowledged), the parties to this Agreement agree as follows:
 

 
 

 


 
 
ARTICLE 1
Escrow Arrangements
 
Section 1.01.  Appointment and Agreement of Escrow Agent.  Parent and the Stockholder Representative hereby appoint the Escrow Agent to serve as, and the Escrow Agent hereby agrees to act as, escrow agent on the terms and conditions set forth in this Agreement.
 
Section 1.02.  Establishment of the Escrow Account.  In accordance with Section 2.08 of the Merger Agreement, Parent shall deliver to the Escrow Agent as of the Closing the Escrow Shares.  The Escrow Agent shall hold the Escrow Shares in escrow pursuant to the terms and conditions of this Agreement.  Upon execution of this Agreement, the Escrow Agent acknowledges receipt of 1,190,155 shares of Common Stock of Parent representing the Escrow Shares.
 
Section 1.03.  Purpose of the Escrow Account.  The Escrow Shares will be deposited with the Escrow Agent and held by the Escrow Agent to secure any indemnification obligations of the Stockholders under Article 11 of the Merger Agreement.  The Escrow Agent shall treat the Escrow Shares as an escrow fund in accordance with the terms of this Agreement and the Merger Agreement and shall hold and dispose of the Escrow Shares only in accordance with the terms of this Agreement.
 
Section 1.04.  Taxes.
 
(a)        The parties agree, to the extent permitted by Applicable Law, for purposes of U.S. federal income Taxes and other applicable Taxes based on income, to treat the Designated Stockholders as the owners of the Escrow Shares.  The Escrow Agent shall timely report to the Designated Stockholders, and as otherwise required under Applicable Law (including on Internal Revenue Service Forms 1099), all dividends, interest and other income earned on the Escrow Shares as income of the Designated Stockholders in the taxable year or years in which such income is properly includible, in accordance with their Pro Rata Shares.  For purposes of this Agreement, “Pro Rata Share” of a Designated Stockholder means the percentage set forth on Schedule A opposite such Designated Stockholder’s name.
 
(b)        The Escrow Agent shall deduct and withhold from any funds or other assets otherwise payable out of the Escrow Account to any Person pursuant to this Agreement such amounts as the Escrow Agent is required to deduct and withhold with respect to the making of such payment under any provision of U.S. federal, state, local or foreign Tax law.  To the extent the Escrow Agent so deducts and withholds amounts, such deducted and withheld amounts shall be timely remitted to the applicable Taxing Authority and shall be treated for all purposes of this Agreement as having been paid to the Person(s) in respect of which the Escrow Agent made such deduction and withholding.  If the Escrow Agent so deducts and withholds amounts, the Escrow Agent shall deliver to the Person(s) in respect of which the Escrow Agent made such deduction and withholding an original receipt (or certified copy thereof), or if unavailable, evidence reasonably satisfactory to
 

 
2

 

such Person(s) that such amounts have been timely remitted to the applicable Taxing Authority.  The Escrow Agent shall cooperate in (i) completing any procedural requirements necessary for the Escrow Agent to make a payment without such deduction or withholding and (ii) assisting Person(s) to obtain a refund for any amount which the Escrow Agent deducted or withheld.  The Stockholder Representative shall use its commercially reasonable efforts to cause each Designated Stockholder (who has not provided the following forms to the Escrow Agent at the Effective Time) to promptly provide to the Escrow Agent an Internal Revenue Service Form W-8 or W-9, as appropriate, and all other Tax forms that the Escrow Agent reasonably requests in connection with its obligations under the Code and the Treasury Regulations thereunder in respect of withholding, backup withholding and information reporting.
 
Section 1.05.  Payments from the Escrow Account.
 
(a)        If the Escrow Agent receives a certificate (or any number of counterparts thereof) signed by both Parent and the Stockholder Representative and directing the Escrow Agent as to delivery of all or any part of the Escrow Shares to Parent and/or the Designated Stockholders (or any other Persons) (a “Joint Certificate”), the Escrow Agent shall immediately deliver such Escrow Shares from the Escrow Account as directed in such Joint Certificate.
 
(b)        Subject to Section 11.01 of the Merger Agreement, if at any time (or from time to time), Parent wishes to make a claim (each, a “Parent Claim”) on behalf of itself or any other Indemnified Party under Section 11.02 of the Merger Agreement (collectively, the “Parent Indemnitees”) against the Escrow Shares for which it, acting in good faith, reasonably believes it is (or they are) entitled to recovery under Article 11 of the Merger Agreement, Parent shall deliver to the Escrow Agent and the Stockholder Representative a certificate signed by Parent (an “Indemnity Certificate”).  Parent may make a Parent Claim in respect of an amount of reasonably anticipated Damages in advance of the actual incurrence of such Damages, and, in the event such Damages are properly recoverable by a Parent Indemnitee in respect of a claim for indemnification under Section 11.02 of the Merger Agreement, payments will be made in respect of such Parent Claim as such Damages are actually incurred.
 
(c)        Parent shall deliver to the Stockholder Representative a copy of each Indemnity Certificate simultaneously with its delivery to the Escrow Agent.  If (pursuant to the applicable provisions of the Merger Agreement) the Stockholder Representative objects in good faith to Parent’s calculation of the amount or entitlement to payment of any amount, stated in any Indemnity Certificate (a “Contested Claim”), the Stockholder Representative shall, within ten Business Days after receipt of such Indemnity Certificate, deliver to the Escrow Agent and Parent a certificate, executed by the Stockholder Representative (a “Notice of Dispute”), specifying (i) each such Contested Claim to which the Stockholder Representative objects and (ii) in reasonable detail the nature and basis for each such objection (provided that no such notice delivered in good faith by the Stockholder Representative shall fail to be a “Notice of Dispute” hereunder by virtue of any failure to comply with such specifications).  The Stockholder
 

 
3

 

Representative shall be deemed to have agreed with (and the parties hereto shall be deemed to be bound by) all items and matters contained in a Indemnity Certificate, except to the extent there is an objection to any such item or matter in the Notice of Dispute.  Parent and the Stockholder Representative shall negotiate in good faith and each shall use their respective commercially reasonable efforts to agree upon the rights of the respective parties with respect to any Contested Claim.
 
(d)        If the Escrow Agent shall not have received a Notice of Dispute within ten Business Days (the “Disagreement Period”) of delivery to the Escrow Agent of an Indemnity Certificate, the Escrow Agent shall deliver to Parent (or to such Person as otherwise directed in such Indemnity Certificate) Escrow Shares with a value (based on the Market Value and calculated in accordance with the Merger Agreement) equal to the amount of the Parent Claim in such Indemnity Certificate.
 
(e)        If the Escrow Agent receives, within ten Business Days after delivery to the Escrow Agent of an Indemnity Certificate, a Notice of Dispute objecting to any matter specified in that Indemnity Certificate, the amount so objected to shall be held by the Escrow Agent and shall not be released from the Escrow Account (but the remainder of the amount claimed, if any, shall be paid or delivered by the Escrow Agent to Parent (or to such Person as otherwise directed in such Indemnity Certificate), except, with respect to the amount as to which the Stockholder Representative has so objected, in accordance with either:
 
(i)                 a written settlement agreement executed by Parent and the Stockholder Representative; or
 
(ii)                a final, non-appealable decision of a court of competent jurisdiction (either of (i) or (ii), a Final Determination),
 
after which time the Escrow Agent shall transfer to Parent (or to such Person as otherwise directed in such Indemnity Certificate) out of the Escrow Account as soon as practicable a number of Escrow Shares with a value (based on the Market Value and calculated in accordance with the Merger Agreement) equal to the amount set forth in the Final Determination.
 
(f)        Notwithstanding any survival or time limitations set forth in the Merger Agreement with respect to any given Parent Claim, Parent shall be entitled to maintain and prove such Parent Claim that has been set forth in an Indemnity Certificate delivered pursuant to Section 1.05(b) on or before the end of the applicable survival or time limitation period until such claim is fully and finally resolved even if such resolution does not occur until after the end of such survival or time limitation period.  At any time before or after the end of an applicable survival or time limitation period, Parent shall be entitled to deliver a revised Indemnity Certificate in accordance with Section 1.05(b) with respect to any Parent Claim setting forth the recalculated amount of Damages incurred or that the relevant Parent Indemnitee reasonably anticipates it or other Parent Indemnitees may incur with respect to such Parent Claim, at the time of such delivery.  For purposes
 

 
4

 

of this Agreement, the “Reserved Amount” means, with respect to each Parent Claim and at any given time, the amount claimed in good faith (including amounts the relevant Parent Indemnitee reasonably anticipates it or other Parent Indemnitees may incur) and unpaid (including, for the avoidance of doubt, applicable interest thereon) as set forth in the most recent Indemnity Certificate delivered with respect to such Parent Claim at such time, to the extent those claims shall not have been fully and finally resolved at or before such time.  In this respect:
 
(i)                 if, on the first Business Day after the first anniversary of the date hereof (the “Initial Release Date”), the aggregate Market Value as of the Initial Release Date of the Escrow Shares then remaining in the Escrow Account exceeds the aggregate of all Reserved Amounts at such time, then promptly after the Initial Release Date, the Escrow Agent shall (x) deliver to each Stockholder at the address for such Stockholder set forth on Schedule A hereto a number of Escrow Shares equal to such Stockholder’s Pro Rata Share of such excess and (y) retain in the Escrow Account the remainder of the Escrow Shares;
 
(ii)                 if, on the Initial Release Date, the aggregate of all Reserved Amounts at such time is greater than or equal to the aggregate Market Value as of the Initial Release Date of the Escrow Shares then remaining in the Escrow Account, the Escrow Agent shall retain all of the Escrow Shares in the Escrow Account; and
 
(iii)                 if, following the Initial Release Date, the disposition of all remaining Reserved Amounts is determined pursuant to one or more Final Determinations and, if applicable, paid to a Parent Indemnitee, and after such payment(s), if any, any Escrow Shares remain in the Escrow Account, then the Escrow Agent shall promptly deliver to each Stockholder at the address for such Stockholder set forth on Schedule A hereto a number of Escrow Shares equal to such Stockholder’s Pro Rata Share of the remainder of the Escrow Shares.
 
(g)        In connection with any delivery of Escrow Shares by the Escrow Agent to any Person pursuant to this Agreement, to the extent a physical stock certificate held by the Escrow Agent with respect to any Escrow Shares to be delivered to such Person represents shares in excess of the number of Escrow Shares to be delivered to such Person, the Escrow Agent shall deliver such stock certificate to Parent and Parent shall promptly prepare and deliver to the Escrow Agent a new stock certificate representing such excess number of shares and the Escrow Agent shall hold such new stock certificate as part of the Escrow Shares in the Escrow Account.  Parent and the Stockholder Representative authorize the Escrow Agent for any securities held hereunder, to use the services of any United States central securities depository it reasonably deems appropriate, including, without limitation, the Depositary Trust Company and the Federal Reserve Book Entry System.
 
(h)        For purposes hereof, the amount of any given Parent Claim shall include interest in accordance with Section 11.02(g) of the Merger Agreement.
 

 
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Section 1.06.  Maintenance of the Escrow Account.  The Escrow Agent shall continue to maintain the Escrow Account until the time at which there shall be no Escrow Shares or other property in such Escrow Account.
 
Section 1.07.  Voting of Escrow Shares.  With respect to any matter on which the holders of Parent Stock have voting rights, the Escrow Shares shall be voted, subject to the terms of the Voting Agreement, as directed by the Stockholder Representative on behalf of each Designated Stockholder.
 
 
ARTICLE 2
Matters Relating To the Escrow Agent
 
Section 2.01.  Escrow Agent.
 
 
(b)        The duties and obligations of the Escrow Agent shall be determined solely by this Agreement, and the Escrow Agent shall not be liable, except for the performance of such duties and obligations as are specifically set forth in this Agreement.
 
(c)        In the performance of its duties hereunder, the Escrow Agent shall be entitled to rely upon any document, instrument or signature believed by it in good faith to be genuine and signed by any party hereto or an authorized officer or agent thereof, and shall not be required to investigate the truth or accuracy of any statement contained in any such document or instrument.  The Escrow Agent may assume that any person purporting to give any notice in accordance with the provisions of this Agreement has been duly authorized to do so.
 
(d)        The Escrow Agent shall not be liable for any error of judgment, or any action taken, suffered or omitted to be taken, hereunder, except in the case of its negligence, bad faith or willful misconduct.  The Escrow Agent may consult with counsel of its own choice and shall have full and complete authorization and protection for any action taken or suffered by it hereunder in good faith and in accordance with the opinion of such counsel.
 
(e)        The Escrow Agent shall have no duty as to the collection or protection of the Escrow Shares, nor as to the preservation of any rights pertaining thereto, beyond the safe custody of any such Escrow Shares actually in its possession.
 
(f)        As compensation for its services to be rendered under this Agreement, for each year or any portion thereof, the Escrow Agent shall receive fees in the amounts specified in Schedule B to this Agreement and shall be reimbursed upon request for all
 

 
6

 

reasonable expenses, disbursements and advances, including reasonable fees of outside counsel, if any, reasonably incurred or made by it in connection with the preparation of this Agreement and the carrying out of its duties under this Agreement.  All such fees and expenses shall be paid 50% by Parent and 50% by the Stockholder Representative.  The Escrow Agent hereby acknowledges receipt of payment of fees payable hereunder from the date hereof to the first anniversary of this Agreement.  Any fees that are outstanding at the time of termination of this Agreement either may be deducted from the Escrow Account prior to making the final distribution or the Escrow Agent may withhold sufficient assets from the final distribution to cover the escrow fee then due, in the sole discretion of the Escrow Agent.
 
(g)        Parent and the Stockholder Representative shall reimburse and indemnify the Escrow Agent for, and hold it harmless against, any loss, liability or expense, including, without limitation, reasonable attorneys’ fees, incurred without negligence, bad faith or willful misconduct on the part of the Escrow Agent arising out of, or connection with the acceptance of, or the performance of, its duties and obligations under this Agreement; provided, that such loss, liability or expense shall be divided equally between Parent, on the one hand, and the Stockholder Representative, on the other.
 
(h)        The Escrow Agent may at any time resign by giving 20 Business Days’ prior written notice of resignation to Parent and the Stockholder Representative.  Parent and the Stockholder Representative may at any time jointly remove the Escrow Agent by giving 10 Business Days’ written notice signed by each of them to the Escrow Agent.  If the Escrow Agent shall resign or be removed, a successor Escrow Agent, which shall be a bank or trust company having (or, in the case of a subsidiary of a bank holding company, its parent shall have) assets in excess of $500 million, and which shall be reasonably acceptable to the Stockholder Representative, shall be appointed by Parent by written instrument executed by Parent and the Stockholder Representative and delivered to the Escrow Agent and to such successor Escrow Agent and, thereupon, the resignation or removal of the predecessor Escrow Agent shall become effective and such successor Escrow Agent, without any further act, deed or conveyance, shall become vested with all right, title and interest to all cash and property held hereunder of such predecessor Escrow Agent, and such predecessor Escrow Agent shall, on the written request of the Stockholder Representative, Parent or the successor Escrow Agent, execute and deliver to such successor Escrow Agent all the right, title and interest hereunder in and to the Escrow Shares held by such predecessor Escrow Agent and all other rights hereunder, and records relating hereto, of such predecessor Escrow Agent.  If no successor Escrow Agent shall have been appointed within 20 Business Days of a notice of resignation by the Escrow Agent, the Escrow Agent’s sole responsibility shall thereafter be to hold the Escrow Shares until the earlier of its receipt of designation of a successor Escrow Agent, a joint written instruction by Parent and the Stockholder Representative and termination of this Agreement in accordance with its terms.
 
(i)        If any controversy arises between the parties to this Agreement concerning the subject matter of this Agreement, its terms or conditions, the Escrow Agent will not be required to determine the controversy or to take any action regarding it.  The Escrow
 

 
7

 

Agent may hold all documents, assets and funds and may wait for settlement of any such controversy by final appropriate legal proceedings or other means.  In such event, the Escrow Agent will not be liable for interest or damage.  Furthermore, the Escrow Agent may, at its option, file an action of interpleader requiring the parties other than the Escrow Agent to answer and litigate any claims and rights among themselves.  The Escrow Agent is authorized, at its option, to deposit with the Clerk of the Court or the arbitrator, as applicable, all documents and funds held in escrow, except all costs, expenses, charges and reasonable attorneys’ fees incurred by the Escrow Agent due to the interpleader action and which the parties agree to pay.  Upon initiating such interpleader action, the Escrow Agent shall be fully released and discharged of and from all obligations and liability imposed by the terms of this Agreement.
 
 
ARTICLE 3
Miscellaneous
 
Section 3.01.  Notices.  All notices, requests and other communications to any party hereunder shall be in writing (including facsimile transmission but not electronic mail) and shall be given,
 
 
(a)
if to Parent, to:
     
   
Patriot Coal Corporation
   
12312 Olive Boulevard, Suite 400
   
St. Louis, Missouri 63141
   
Attention:  Joseph W. Bean
   
Facsimile No.:  (314) 275-3656
     
   
with a copy to:
     
   
Davis Polk & Wardwell
   
450 Lexington Avenue
   
New York, NY  10017
   
Attention:  William L. Taylor
   
Facsimile No.:  (212) 450-4800
     
 
(b)
if to the Stockholder Representative, to:
     
   
ArcLight Energy Partners Fund I, L.P.
   
ArcLight Energy Partners Fund II, L.P.
   
c/o ArcLight Capital Partners, LLC
   
152 West 57th Street, 53rd Floor
   
New York, NY 10019
   
Attention:  Robb E. Turner
   
                 Senior Partner
   
Facsimile No.: 212-888-9275


 
8

 


   
with a copy to:
     
   
ArcLight Energy Partners Fund I, L.P.
   
ArcLight Energy Partners Fund II, L.P.
   
c/o ArcLight Capital Partners, LLC
   
200 Clarendon Street, 55th Floor
   
Boston, MA 02117
   
Attention:  Christine M. Miller
   
                 Associate General Counsel
   
Facsimile No.: 617.867.4698
     
   
and
     
   
Skadden, Arps, Slate, Meagher & Flom LLP
   
Four Times Square
   
New York, New York 10022
   
Attention:  Sean C. Doyle, Esq.
   
Facsimile No.: (212) 735-2000
     
 
(c)
if to Escrow Agent, to:
     
   
Sovereign Bank, Wealth Management Division
   
75 State Street, 4th Floor
   
Boston, MA 02109
   
Attention:  Amy Pappas
   
                 Account Officer
   
Facsimile No.: (617) 346-7497
     
   
with a copy to:
     
   
Cynthia Kelly, Chief Compliance Officer
   
Facsimile No.: (484) 338-2799

or to such other address or facsimile number as such party may hereafter specify for the purpose by notice to the other parties hereto.  All such notices, requests and other communications shall be deemed received on the date of receipt by the recipient thereof if received prior to 5:00 p.m. on a Business Day in the place of receipt.  Otherwise, any such notice, request or communication shall be deemed to have been received on the next succeeding Business Day in the place of receipt.  If any Indemnity Certificate, Notice of Dispute or other certificate or document is required to be delivered to the Escrow Agent and any other party, the Escrow Agent may assume without inquiry that such document was received by such other party when it was received by the Escrow Agent.
 

 
9

 


 
Section 3.02.  Headings.  The headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement.
 
Section 3.03.  Amendments and Waivers.
 
(a)        Any provision of this Agreement (including any Schedule hereto) may be amended or waived if, but only if, such amendment or waiver is in writing and is signed, in the case of an amendment, by each party, or in the case of a waiver, by the party against whom the waiver is to be effective.
 
(b)        No failure or delay by any party in exercising any right, power or privilege hereunder shall operate as a waiver thereof nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power or privilege.  The rights and remedies herein provided shall be cumulative and not exclusive of any rights or remedies provided by law.
 
Section 3.04.  Severability.  If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction or other Governmental Authority to be invalid, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions of this Agreement shall remain in full force and effect and shall in no way be affected, impaired or invalidated so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to any party.  Upon such a determination, the parties shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as closely as possible in an acceptable manner in order that the transactions contemplated hereby be consummated as originally contemplated to the fullest extent possible.
 
Section 3.05.  Assignment; Successors.  This Agreement may not be assigned without the express written consent of the other parties hereto (which consent may be granted or withheld in the sole discretion of such other parties); provided that Parent may assign this Agreement to any Person without the consent of the other parties hereto, but any such assignment shall not relieve Parent of its obligations hereunder.  This Agreement shall be binding upon and inure solely to the benefit of the parties hereto and their permitted assigns.  The Escrow Agent may assume without inquiry that any assignment purported to be made by Parent pursuant to this Section is valid.
 
Section 3.06.  Entire Agreement.  This Agreement supersedes all prior agreements and undertakings, both written and oral, between the parties, or any of them, with respect to the subject matter hereof.
 
Section 3.07.  Governing Law.  This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware, without regard to its conflicts of law principles.
 

 
10

 


 
Section 3.08.  Jurisdiction.  The parties hereto agree that any suit, action or proceeding seeking to enforce any provision of, or based on any matter arising out of or in connection with, this Agreement or the transactions contemplated hereby shall be brought in any Delaware state court, and each of the parties hereby irrevocably consents to the jurisdiction of such courts (and of the appropriate appellate courts therefrom) in any such suit, action or proceeding and irrevocably waives, to the fullest extent permitted by law, any objection that it may now or hereafter have to the laying of the venue of any such suit, action or proceeding in any such court or that any such suit, action or proceeding brought in any such court has been brought in an inconvenient forum.  Process in any such suit, action or proceeding may be served on any party anywhere in the world, whether within or without the jurisdiction of any such court.  Without limiting the foregoing, each party agrees that service of process on such party as provided in Section 3.01 shall be deemed effective service of process on such party.
 
Section 3.09.  WAIVER OF JURY TRIAL.  EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATED TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY.
 
Section 3.10.  Counterparts; Third Party Beneficiaries.  This Agreement may be signed in any number of counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument.  Until and unless each party has received a counterpart of this Agreement signed by each of the other parties, this Agreement shall have no effect, and no party shall have any right or obligation under this Agreement (whether by virtue of any other oral or written agreement or other communication).  This Agreement shall become effective when each party shall have received a counterpart hereof signed by the other parties.  No provision of this Agreement is intended to confer upon any Person other than the parties hereto and the Stockholders any rights or remedies hereunder.  Any such counterpart may be delivered by facsimile or other electronic format (including “.pdf”).
 
Section 3.11.  Specific Performance.  The parties hereto agree that irreparable damage would occur if any provision of this Agreement were not performed in accordance with the terms hereof and that the parties shall be entitled (without the requirement to post bond) to an injunction or injunctions to prevent breaches of this Agreement or to enforce specifically the performance of the terms and provisions hereof in the courts provided for in Section 3.08, in addition to any other remedy to which they are entitled at law or in equity.
 
Section 3.12.  Payments.  All payments hereunder shall be made promptly, and in any event within one Business Day, after the entitlement to the payment is determined as set forth herein.
 
Section 3.13.  Certain Amendments.  If, after the date hereof, Parent shall pay any dividend or make any distribution in respect of the Escrow Shares or the Escrow Shares shall be exchanged for or converted into other securities, assets, cash or any combination
 

 
11

 

thereof, then promptly thereafter the parties hereto will enter into an appropriate amendment to this Agreement to properly account for such distribution, dividend, exchange or conversion.
 

 

 
12

 


 
IN WITNESS WHEREOF, the parties hereto have caused this Escrow Agreement to be executed as of the date first written above.
 
 
PATRIOT COAL CORPORATION
   
     
 
By:
/s/Joseph W. Bean
 
 
Name:
Joseph W. Bean
 
Title:
Senior Vice President, General Counsel & Corporate Secretary
     
     
 
ARCLIGHT ENERGY PARTNERS FUND I, L.P., as Stockholder Representative,
 
  By:  ArcLight PEF GP, LLC, its General Partner
     
 
  By:  ArcLight Capital Holdings, LLC, its Manager
     
 
By:
/s/Daniel R. Revers
 
 
Name:
Daniel R. Revers
 
Title:
Manager
     
     
 
ARCLIGHT ENERGY PARTNERS FUND II, L.P., as Stockholder Representative,
 
  By:  ArcLight PEF GP II, LLC, its General Partner
     
 
  By:  ArcLight Capital Holdings, LLC, its Manager
     
     
 
By:
/s/Daniel R. Revers
 
 
Name:
Daniel R. Revers
 
Title:
Manager
     
     
 
SOVEREIGN BANK
   
     
     
 
By:
/s/
 
 
Name:
 
 
Title:
 



EX-99.5 3 ex99-5.htm EXHIBIT 99.5 Unassociated Document


Exhibit 99.5


July 22, 2008



Patriot Coal Corporation
12312 Olive Boulevard, Suite 400
St. Louis, MO 63141
Attention:  Joseph W. Bean

Magnum Coal Company
500 Lee Street East
Suite 900
Charleston, WV 25301

Paul Vining
c/oMagnum Coal Company
500 Lee Street East
Suite 900
Charleston, WV 25301

Ladies and Gentlemen:

Reference is made to the Agreement and Plan of Merger, dated as of April 2, 2008 (the "Merger Agreement"), among Magnum Coal Company (the "Company"), Patriot Coal Corporation ("Parent"), Colt Merger Corporation ("Merger Sub") and ArcLight Energy Partners Fund I, L.P. and ArcLight Energy Partners Fund II, L.P., acting jointly, as Stockholder Representative (the "Stockholder Representative").  Capitalized terms used herein and not otherwise defined shall have the meaning ascribed thereto in the Merger Agreement.

The undersigned Designated Stockholders (as defined in the Voting Agreement) desire to cause certain shares of Parent Stock received by such Designated Stockholders pursuant to the Merger Agreement to be directed to Mr. Paul Vining ("Vining") following the lapse of certain restrictions on transfer of shares of Parent Stock contained in the Voting Agreement; provided that Vining is then employed by Parent.  Accordingly, the parties hereto agree as follows:

1.           Delivery of Shares to Vining. Each of the undersigned Designated Stockholders shall (i) on the date that is no later than ten days following the Initial Lock-up Date (as defined in the Voting Agreement) deliver and convey to Vining such Designated Stockholder's Applicable Percentage of the number of shares of Parent Stock equal to the Initial Lock-up Directed Share Amount, (ii) on the date that is no later than ten days following the Second Lock-up Date (as defined in the Voting Agreement) deliver to Vining such Designated

 
1

 

 
Stockholder's Applicable Percentage of the number of shares of Parent Stock equal to the Second Lock-up Directed Share Amount and (iii) on the date that is no later than ten days following the date that is 360 days following the Effective Time (the "Lock-up Expiration Date") deliver to Vining such Designated Stockholder's Applicable Percentage of the Lock-up Expiration Directed Share Amount; provided, in each case, that Vining is employed by Parent as of the Initial Lock-up Date, the Second Lock-up Date or the Lock-up Expiration Date, as applicable.  Upon termination of Vining's employment for any reason, Vining's right to receive Directed Shares after such date shall terminate.
 
For purposes of this letter agreement (a) "Initial Lock-up Directed Share Amount" means the number of shares of Parent Stock equal to the quotient obtained by dividing (1) $1,500,000 by (2) the average of the closing price of Parent Stock on the principal stock exchange on which Parent Stock is traded for the 10 consecutive trading days ending five trading days after the Initial Lock-up Date, (b) "Second Lock-up Directed Share Amount" means the number of shares of Parent Stock equal to the quotient obtained by dividing (1) $750,000 by (2) the average of the closing price of Parent Stock on the principal stock exchange on which Parent Stock is traded for the 10 consecutive trading days ending five trading days after the Second Lock-up Date, (c) "Lock-up Expiration Directed Share Amount" means the number of shares of Parent Stock equal to the quotient obtained by dividing (1) $750,000 by (2) the average of the closing price of Parent Stock on the principal stock exchange on which Parent Stock is traded for the 10 consecutive trading days ending five trading days after the Lock-up Expiration Date, (d) "Directed Shares" means the shares of Parent Stock delivered to Vining pursuant to this paragraph 1 of this letter agreement and (e) "Applicable Percentage" for any Designated Stockholder means the percentage set forth opposite such Designated Stockholder's name on Exhibit A hereto.
 
2.           Acceptance and Acknowledgement by Vining.  Vining hereby accepts the delivery of Directed Shares, if any, as contemplated by paragraph 1 above and acknowledges that any such Directed Shares shall be subject to the terms of the Voting Agreement to the same extent as other shares of Parent Stock received by Vining pursuant to the Merger.  In consideration of the right to receive the shares of Parent Stock pursuant to paragraph 1 above, Vining hereby acknowledges that he shall not be entitled to the transaction bonus under Section 3.1(d) of his current Employment Agreement with the Company dated as of April 15, 2006.  Vining further acknowledges that any Directed Shares delivered to him by an "affiliate" (as defined in Rule 144(a)(1) under the 1933 Act ("Rule 144")) of Parent will be "restricted securities" (as defined in rule 144(a)(3)) and will be subject to applicable requirements under Rule 144, including but not limited to the holding period requirement.

3.           Acknowledgement by Parent.  Parent hereby acknowledges and agrees to the conveyance of the Directed Shares, if any, to Vining.  Parent further agrees that this letter agreement and the transactions contemplated thereby shall not constitute a Transfer from the undersigned to Vining for purposes of Voting Agreement (including Section 1.02(e) and Section 3.01 thereof).

4.           Acknowledgement by the Company.  The Company hereby acknowledges the conveyance of the Directed Shares, if any, to Vining.

 
2

 



5.           Further Assurances.  Each of the parties hereto agrees to execute and deliver, or cause to be executed and delivered, all further documents and instruments and to take, or cause to be taken, all actions and to do, or cause to be done, all things necessary, proper or advisable under applicable laws and regulations, to consummate and make effective the transactions contemplated by this letter agreement, including to register the Directed Shares in the name of Vining or his nominee.

6.           Amendments and Waivers.  Any provision of this letter agreement may by amended or waived, if, but only if, such amendment or waiver is in writing and is signed by each of Vining, the Stockholder Representative and Parent.  No failure or delay by any party in exercising any right, power or privilege hereunder shall operate as a waiver thereof nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power or privilege.  The rights and remedies herein provided shall be cumulative and not exclusive of any rights or remedies provided by law.

7.           Governing Law.  This letter agreement shall be governed by and construed in accordance with the laws of the State of Delaware, without regard to conflicts of law principles.

8.           Jurisdiction.  The parties hereto agree that any suit, action or proceeding seeking to enforce any provision of, or based on any matter arising out of or in connection with, this letter agreement or the transactions contemplated hereby shall be brought in any Delaware state court, and each of the parties hereby irrevocably consents to the jurisdiction of such court (and of the appropriate appellate courts therefrom) in any such suit, action or proceeding and irrevocably waives, to the fullest extent permitted by law, any objection that it may now or hereafter have to the laying of the venue of any such suit, action or proceeding in any such court or that any such suit, action or proceeding brought in any such court has been brought in an inconvenient forum.  Process in any such suit, action or proceeding may be served on any party anywhere in the world, whether within or without the jurisdiction of any such court.  Without limiting the foregoing, each party agrees that service of process on such party as provided in Section 4.10 of the Voting Agreement shall be deemed effective service of process on such party.

9.           WAIVER OF JURY TRIAL.  EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATED TO THIS LETTER AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY.

10.           No Impact on Employment Relationship.  Nothing in this letter agreement shall impose on Parent an obligation to continue Vining's employment or lessen or affect Parent's right to terminate Vining's employment.

11.           Counterparts; Third Party Beneficiaries.  This letter agreement may be signed in any number of counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument.  Until and unless each party has received a counterpart of this letter agreement signed by each of the other parties, this letter agreement shall have no effect, and no party shall have any right or obligation under this letter

 
3

 

 
agreement (whether by virtue of any other oral or written agreement or other communication).  This letter agreement shall become effective when each party shall have received a counterpart hereof signed by the other parties.  No provision of this letter agreement is intended to confer upon any Person other than the parties hereto any rights or remedies hereunder.  Any such counterpart may be delivered by facsimile or other electronic format (including “.pdf”).
 

*     *     *     *

 
4

 

Please indicate your agreement with the foregoing by executing a copy of this letter agreement.

 
Sincerely,
     
 
ARCLIGHT ENERGY PARTNERS
FUND I, L.P.
     
 
  By:  ArcLight PEF GP, LLC, its General
               Partner
     
 
  By:  ArcLight Capital Holdings, LLC, its
               Manager
     
 
By:
/s/Daniel R. Revers
   
Name:  Daniel R. Revers
   
Title:  Manager
     
     
 
ARCLIGHT ENERGY PARTNERS
FUND II, L.P.
     
 
  By:  ArcLight PEF GP, LLC, its General
               Partner
     
 
  By:  ArcLight Capital Holdings, LLC, its
               Manager
     
 
By:
/s/Daniel R. Revers
   
Name:  Daniel R. Revers
   
Title:  Manager
     
     
 
CASCADE INVESTMENT, L.L.C.
     
 
By:
/s/Michael Larson
   
Name: Michael Larson
   
Title: Business manager


 
5

 


     
 
  CAISSE DE DEPOT ET
               PLACEMENT DU QUEBEC
     
 
By:
/s/Ghislain Gauthier
   
Name: Ghislain Gauthier
   
Title: Senior Vice-President
     
 
By:
/s/Cyrille Vittecoq
   
Name: Cyrille Vittecoq
   
Title: Vice-President, Investments
     
     
 
  CITIGROUP CAPITAL PARTNERS
               II 2006 CITIGROUP
               INVESTMENT, L.P.
     
 
By:  Citigroup Private Equity LP, its General partner
     
 
By:
/s/Craig Farnsworth
   
Name: Craig Farnsworth
   
Title: Vice President
     
     
 
  CITIGROUP CAPITAL PARTNERS
               II EMPLOYEE MASTER FUND,
               L.P.
     
 
By:
/s/Craig Farnsworth
   
Name: Craig Farnsworth
   
Title: Vice President
     
     
 
  CITIGROUP CAPITAL PARTNERS
               II ONSHORE, L.P.
     
 
By:
/s/Craig Farnsworth
   
Name: Craig Farnsworth
   
Title: Vice President


 
6

 


 
  CITIGROUP CAPITAL PARTNERS
                II CAYMAN HOLDINGS, L.P.
     
 
By:  Citigroup Private Equity LP, its General partner
     
 
By:
/s/Craig Farnsworth
   
Name: Craig Farnsworth
   
Title: Vice President
     
     
 
  HOWARD HUGHES MEDICAL
               INSTITUTE
     
 
By:
/s/Mark Barnard
   
Name:  Mark Barnard
   
Title: Managing Director
     
     
 
  THE NORTHWESTERN LIFE
               INSURANCE COMPANY
     
 
By:
/s/Howard Stern
   
Name: Howard Stern
   
Title: Authorized Representative
     
     
 
  THE BOARD OF TRUSTEES OF THE
               LELAND STANFORD JUNIOR
               UNIVERSITY
     
 
By:  The Stanford Management Company
     
 
By:
/s/Mark Hayes
   
Name:  Mark Hayes
   
Title: Manager, Natural Resources


 
7

 




Agreed to and acknowledged as of the date
  first above written:
 
PATRIOT COAL CORPORATION
   
By:
 /s/Joseph W. Bean                
 
Name:
 Joseph W. Bean
Title:
 
   
   
   
MAGNUM COAL COMPANY
   
By:
 /s/Keith St. Clair                  
 
Name:
 Keith St. Clair
Title:
 CFO
   
   
/s/Paul Vining__________________________________
 
Paul Vining


 
8

 


Exhibit A

Designated Stockholder Name
Applicable Percentage
   
ArcLight Energy Partners Fund I, L.P.
 
 31.84%
ArcLight Energy Partners Fund II, L.P.
 
 25.50%
Cascade Investment, L.L.C.
 
 10.46%
Caisse de Depot et Placement du Quebec
 
 10.03%
Citigroup Capital Partners II 2006 Citigroup Investment, L.P.
 
   2.15%
Citigroup Capital Partners II Employee Master Fund, L.P.
 
   2.42%
Citigroup Capital Partners II Onshore, L.P.
 
  1.09%
Citigroup Capital Partners II Cayman Holdings, L.P.
 
   1.37%
Howard Hughes Medical Institute
 
   6.98%
The Northwestern Mutual Life Insurance Company
 
   5.31%
The Board of Trustees of the Leland Stanford Junior University
 
  2.85%
Total
 
 
100.00%


9





EX-99.6 4 ex99-6.htm EXHIBIT 99.6 Unassociated Document

Exhibit 99.6

JOINT FILING AGREEMENT

July 31, 2008

1.           Pursuant to Rule 13d-1(k)(1)(iii) of the Securities Exchange Act of 1934, each of the undersigned agrees that a single joint Schedule 13D and any amendments thereto may be filed on behalf of each of the undersigned with respect to the securities held by each of them in Patriot Coal Corporation (the "Company").  Each of the undersigned shall be responsible for the accuracy and completeness of the information concerning himself or itself therein, and shall not be responsible for the accuracy and completeness of the information concerning any other person, unless such member knows or has reason to know that such information is inaccurate.

2.           So long as this agreement is in effect, each of the undersigned shall provide written notice to the persons listed on Annex A hereto of (i) any of their purchases or sales of securities of the Company; (ii) any securities of the Company over which they acquire or dispose of beneficial ownership, and (iii) any other matter giving rise to the need to amend any item of the Schedule 13D relating to such person. Notice shall be given as promptly as practicable, but not later than two business days following each such transaction.

3.           Except as provided in paragraph 4, nothing herein shall be construed to authorize any party to act as an agent for any other party, or to create a joint venture or partnership, or to constitute an indemnification. Nothing herein shall restrict any party's right to sell securities of the Company, as he/it deems appropriate, in his/its sole discretion.

4.           The undersigned, except for Cascade Investment, L.L.C. and William H. Gates III (neither of which is granting a power of attorney pursuant to this Agreement), hereby appoints Daniel R. Revers and Robb E. Turner, and each of them, with full power of substitution and resubstitution, to be such person's true and lawful attorney-in-fact and agent to execute and file with the Securities and Exchange Commission any Schedule 13D and any amendments thereto and any related agreement or documentation which may be required or advisable to be executed or filed as a result of the undersigned's beneficial ownership of securities of the Company.  The authority of such persons under this power of attorney shall continue with respect to the undersigned in perpetuity unless revoked earlier in writing.  Such attorneys-in-fact shall be responsible for making any necessary amendments to the Schedule 13D and shall use their reasonable best efforts to submit drafts of such filings to the undersigned for review and comment as soon as reasonably practicable prior to the filing of any such amendment.

5.           This Agreement may be executed in counterparts, each of which shall be deemed an original and all of which, taken together, shall constitute but one and the same instrument, which may be sufficiently evidenced by one counterpart.

6.           This Agreement shall be governed by and construed by and enforced in accordance with the laws of the State of New York applicable to contracts to be performed in
 
 
1

 
 
such state without giving effect to the principles of conflicts of law thereof or of any other jurisdiction.

7.           In the event of any dispute arising out of the provisions of this Agreement or their investment in the Company, the parties hereto consent and submit to the exclusive jurisdiction of the Federal and State Courts in the borough of Manhattan in the city of New York, New York.

8.           Each of the undersigned parties hereby agrees that this Agreement shall be filed as an exhibit to a Schedule 13D pursuant to Rule 13d-1(k)(1)(iii) under the Exchange Act.


 
2

 

IN WITNESS WHEREOF, the undersigned have duly executed this Joint Filing Agreement as of the date first above written.


ARCLIGHT ENERGY PARTNERS FUND I, L.P.
 
By: ArcLight PEF GP, LLC, its
 
General Partner
 
By: ArcLight Capital Holdings,
 
LLC, its Manager
 
By:
/s/Daniel R. Revers
 
Name: Daniel R. Revers
 
Title: Manager
 
   
ARCLIGHT ENERGY PARTNERS FUND II, L.P.
 
By: ArcLight PEF GP II, LLC,
 
its General Partner
 
By: ArcLight Capital Holdings, LLC,
 
its Manager
 
By:
/s/Daniel R. Revers
 
Name: Daniel R. Revers
 
Title: Manager
 
   
ARCLIGHT PEF GP, LLC
 
   
By: ArcLight Capital Holdings, LLC,
 
its Manager
 
By:
/s/Daniel R. Revers
 
Name: Daniel R. Revers
 
Title: Manager
 
   
ARCLIGHT PEF GP II, LLC
 
   
By: ArcLight Capital Holdings, LLC,
 
its Manager
 
By:
/s/Daniel R. Revers
 
Name: Daniel R. Revers
 
Title: Manager
 
   
ARCLIGHT CAPITAL HOLDINGS, LLC
 
   
By:
/s/Daniel R. Revers
 
Name: Daniel R. Revers
 
Title: Manager
 


 
3

 


/s/Daniel R. Revers
 
Daniel R. Revers
 




/s/Robb E. Turner
 
Robb E. Turner
 



/s/John F. Erhard
 
John. F. Erhard
 



CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC
 
By:
/s/Ghislain Gauthier
 
Name: Ghislain Gauthier
 
Title: Senior Vice-President
 
   
By:
/s/Cyrille Vittecoq
 
Name: Cyrille Vittecoq
 
Title: Vice-President, Investments
 
   
   
   
CASCADE INVESTMENT, L.L.C.
 
By:
/s/Michael Larson
 
Name: Michael Larson
 
Title: Business Manager
 
   
WILLIAM H. GATES III
 
   
By:
/s/Michael Larson
 
Name:  Michael Larson (1)
 
Title:  Attorney-in-fact
 
   
   
CITIGROUP CAPITAL PARTNERS II 2006
 
CITIGROUP INVESTMENT, L.P.
 
By: Citigroup Private Equity LP,
 
its general partner
 
By:
/s/Jason Ment
 
Name: Jason Ment
 
Title: Secretary
 



 
4

 


CITIGROUP CAPITAL PARTNERS II EMPLOYEE MASTER
 
FUND, L.P.
 
By: Citigroup Private Equity LP, its
 
general partner
 
By:
/s/Jason Ment
 
Name: Jason Ment
 
Title: Secretary
 
   
   
CITIGROUP CAPITAL PARTNERS II ONSHORE, L.P.
 
By: Citigroup Private Equity LP,
 
its general partner
 
By:
/s/Jason Ment
 
Name: Jason Ment
 
Title: Secretary
 
   
   
CITIGROUP CAPITAL PARTNERS II CAYMAN
 
HOLDINGS, L.P.
 
By: Citigroup Private Equity LP,
 
its general partner
 
By:
/s/Jason Ment
 
Name: Jason Ment
 
Title: Secretary
 
   
   
CITIGROUP PRIVATE EQUITY LP
 
   
By:
/s/Jason Ment
 
Name: Jason Ment
 
Title: Secretary
 
   
   
CITIGROUP ALTERNATIVE INVESTMENTS LLC
 
   
By:
/s/Jason Ment
 
Name: Jason Ment
 
Title: Assistant Secretary
 
   
   
CITIGROUP INVESTMENTS INC.
 
   
By:
/s/Millie Kim
 
Name: Millie Kim
 
Title: Secretary
 


 
5

 




CITIGROUP INC.
 
   
By:
/s/Riqueza V. Feaster
 
Name: Riqueza V. Feaster
 
Title: Assistant Secretary
 
   
HOWARD HUGHES MEDICAL INSTITUTE
 
By:
 /s/Craig A. Alexander
 
Name: Craig A. Alexander
 
Title: Vice President & General Counsel
 
   
   
THE NORTHWESTERN MUTUAL LIFE INSURANCE
 
COMPANY
 
By:
/s/Howard Stern
 
Name: Howard Stern
 
Title: Its Authorized Representative
 


 
6

 


THE BOARD OF TRUSTEES OF THE LELAND STANFORD
JUNIOR UNIVERSITY

By: The Stanford Management Company,
        a division thereof


By:
/s/Mark H. Hayes
 
Name:  Mark H. Hayes
 
Title: Manager of Natural
 
Resources Investments
 



/s/Paul Vining
 
Paul Vining
 



/s/Timothy Elliott
 
Timothy Elliott
 



/s/David Turnbull
 
David Turnbull
 



/s/Richard Verheij
 
Richard Verheij
 



/s/Tom McQuade
 
Tom McQuade
 



/s/B. Scott Spears
 
B. Scott Spears
 




/s/Keith St. Clair
 
Keith St. Clair
 



/s/Robert Bennett
 
Robert Bennett
 


 
7

 




/s/Dwayne Francisco
 
Dwayne Francisco
 


(1) )   Duly authorized under Special Power of Attorney appointing Michael Larson attorney-in-fact, dated February 3, 2006, by and on behalf of William H. Gates III, filed as Exhibit 99.1 to Cascade Investment, L.L.C.’s Amendment No. 2 to Schedule 13G with respect to Arch Capital Group Ltd. on March 7, 2006, SEC File No. 005-45257, and incorporated by reference herein.

 
8

 

Annex A

Address for Notices


ArcLight Capital Partners, LLC
200 Clarendon Street, 55th Floor
Boston, MA 02117
Attention: Christine M. Miller
Associate General Counsel
Fax:  617-867-4698

With a copy to:

Skadden, Arps, Slate, Meagher & Flom LLP
Four Times Square
New York, New York 10022
Attention: Sean C. Doyle
Fax: 212-735-3000


9




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