EXHIBIT 10.1
Execution Version
SEPARATION AGREEMENT
by and among
LOEWS CORPORATION,
LORILLARD, INC.,
LORILLARD TOBACCO COMPANY,
LORILLARD LICENSING COMPANY, LLC,
ONE PARK MEDIA SERVICES, INC.
and
PLISA S.A.
Dated as of May 7, 2008.
TABLE OF CONTENTS
i
Page
ARTICLE I
DEFINITIONS
Section 1.1 Certain Definitions
2
Section 1.2 Other Definitions
8
ARTICLE II
ALLOCATION OF COSTS AND EXPENSES
Section 2.1 Allocation of Costs and Expenses
8
ARTICLE III
RELEASE AND INDEMNIFICATION
Section 3.1 Release of Pre-Separation Claims
10
Section 3.2 General Cross Indemnification
12
Section 3.3 Registration Statement Indemnification
13
Section 3.4 Notice and Defense of Claims
15
Section 3.5 Contribution
17
Section 3.6 Subrogation
17
Section 3.7 Other Matters
18
Section 3.8 Covenant to Remove Indemnified Party
18
Section 3.9 Tax Matters
18
ARTICLE IV
TAX RELATED PROVISIONS
Section 4.1 Non-Taxable Transaction
19
Section 4.2 Tax Returns and Tax Payments
19
Section 4.3 Representations and Covenants
24
Section 4.4 Indemnity Obligations and Payments
27
Section 4.5 Tax Contests
28
Section 4.6 Cooperation; Retention of Records; Access; Confidentiality
29
Section 4.7 Further Assurances
31
Section 4.8 Dispute Resolution
31
ARTICLE V
CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER, DISPOSITION AND DIVESTITURE
Section 5.1 Consolidation, Merger, Conveyance, Transfer, Disposition and Divestiture
31
TABLE OF CONTENTS
i
Page
ARTICLE I
DEFINITIONS
Section 1.1 Certain Definitions
2
Section 1.2 Other Definitions
8
ARTICLE II
ALLOCATION OF COSTS AND EXPENSES
Section 2.1 Allocation of Costs and Expenses
8
ARTICLE III
RELEASE AND INDEMNIFICATION
Section 3.1 Release of Pre-Separation Claims
10
Section 3.2 General Cross Indemnification
12
Section 3.3 Registrat