Exhibit 10.2a

 

Execution Copy

 

FIRST AMENDMENT TO

REGISTRATION RIGHTS AGREEMENT

 

AMENDMENT NO. 1, dated as of May 17, 1996 (this “Amendment”), to the
Registration Rights Agreement, dated November 22, 1995 (the “Agreement”), by and
between The Estée Lauder Companies Inc., a Delaware corporation (the “Company”),
Leonard A. Lauder (“LAL”), Ronald S. Lauder (“RSL”), William P. Lauder (“WPL”),
Gary M. Lauder (“GML”), Aerin Lauder, Jane Lauder, LAL Family Partners L.P.,
Lauder & Sons L.P., a Delaware limited partnership, LAL, RSL and Ira T. Wender,
as trustees (the “EL Trustees”), u/a/d as of June 2, 1994, as amended. between
Estée Lauder, as settlor, and the EL Trustees, and known as “The Estée Lauder
1994 Trust Agreement” (the “EL Trust”), LAL and Joel S. Ehrenkranz, as trustees
(the “LAL Trustees”), u/a/d as of November 16, 1995, between Estée Lauder, as
settlor, and the LAL Trustees, and known as the “The LAL 1995 Preferred Stock
Trust” (the “LAL Trust”), the trustees of the various other trusts set forth on
the signature pages hereof and Morgan Guaranty Trust Company of New York in its
capacity as pledgee of RSL (“Morgan”).

 

W I T N E S S E T H:

 

WHEREAS, the Company and the other parties to the Agreement wish to modify the
period during which Preferred Stock Requesting Holders may demand registration
of their Registrable Preferred Stock; and

 

WHEREAS, the Company and the other parties to the Agreement wish to clarify the
group of persons entitled to piggyback registration rights under the Agreement.

 

NOW, THEREFORE, in consideration of the foregoing and the mutual covenants
herein contained, the parties hereto hereby agree as follows:

 

1.         Capitalized terms used in this Amendment without definition shall
have the respective meanings ascribed to such terms in the Agreement.

 

2.         For purposes of the Agreement, as amended by the Amendment, the
following terms shall have the meanings ascribed to them below:

 

(a)          “Preferred Stock Demand Exercise Period” shall mean the period
beginning on November 22, 1995 and ending on the later of (a) Mrs. Lauder’s
death and (b) June 30, 2000.

 

(b)          “Participating Holder” shall mean any Common Stock Demand Holder,
any Preferred Stock Requesting Holder or any other Holder.

 

--------------------------------------------------------------------------------

 

3.        Except as expressly set forth in this Amendment, the Agreement has not
been amended or modified and remains in full force and effect.

 

4.        This Amendment shall be governed by and construed in accordance with
the internal laws of the State of New York (other than its rules of conflicts of
law to the extent the application of the laws of another jurisdiction would be
required thereby).

 

5.        This Amendment may be executed in any number of counterparts, each of
which shall be deemed to be an original, and all of which, when taken together,
shall constitute one and the same agreement.

 

IN WITNESS WHEREOF, the parties hereto have duly executed and delivered this
Agreement as of the date first above written.

 

 

 

THE ESTÉE LAUDER COMPANIES INC.

 

 

 

 

 

By:

/s/ Leonard A. Lauder

 

    Name:

Leonard A. Lauder

 

    Title:

Chairman and-Chief Executive Officer

 

 

 

 

 

 

 

 

 

 

 

 

 

/s/ Leonard A. Lauder

 

Leonard A. Lauder, (a) individually, (b) as Managing Partner of LAL Family
Partners L.P., (c) as Trustee of The Estée Lauder 1994 Trust, (d) as a Class B
General Partner of Lauder & Sons L.P., (e) as Trustee of The 1995 Estée Lauder
LAL Trust (a Class B General Partner of Lauder & Sons L.P.) and (f) as Trustee
of the LAL Trust

 

2

--------------------------------------------------------------------------------

 

 

/s/ Ronald S. Lauder

 

Ronald S. Lauder, (a) individually, (b) as Trustee of The Descendents of RSL
1966 Trust, (c) as Trustee of The Estée Lauder 1994 Trust, (d) as a Class B
General Partner of Lauder & Sons L.P. and (e) as Trustee of The 1995 Estée
Lauder RSL Trust (a Class B General Partner of Lauder & Sons L.P.)

 

 

 

 

 

 

 

 

 

 

 

/s/ William P. Lauder

 

William P. Lauder, (a) individually and (b) as Trustee of The 1992 Leonard A.
Lauder Grantor Retained Annuity Trust

 

 

 

 

 

 

 

 

 

/s/ Gary M. Lauder

 

Gary M. Lauder, (a) individually and (b) as Trustee of The 1992 Leonard A.
Lauder Grantor Retained Annuity Trust

 

 

 

 

 

 

 

 

 

/s/ Aerin Lauder

 

Aerin Lauder

 

 

 

 

 

 

 

 

 

 

 

/s/ Jane Lauder

 

Jane Lauder

 

3

--------------------------------------------------------------------------------

 

 

/s/ Joel S. Ehrenkranz

 

Joel S. Ehrenkranz, (a) as Trustee of the 1992 Leonard A. Lauder Grantor
Retained Annuity Trust, (b) as Trustee of the Trust f/b/o Gary M. Lauder and
William P. Lauder u/a/d December 15, 1976, created by Leonard Lauder, as
Grantor, (c) as Trustee of The 1995 Estée Lauder LAL Trust (a Class B General
Partner of Lauder & Sons L.P.) and (d) as Trustee of the LAL Trust

 

 

 

 

 

 

 

 

 

 

 

/s/ Carol S. Boulanger

 

Carol S. Boulanger, as Trustee of the Trust f/b/o Gary M. Lauder and William P.
Lauder u/a/d December 15, 1976, created by Leonard Lauder, as Grantor

 

 

 

 

 

 

 

/s/ Richard D. Parsons

 

Richard D. Parsons, (a) as Trustee of the Trust f/b/o Aerin Lauder and Jane
Lauder u/a/d December 15, 1976, created by Estée Lauder and Joseph H. Lauder, as
Grantors, (b) as Trustee of the Trust f/b/o Aerin Lauder and Jane Lauder u/a/d
December 15, 1976, created by Ronald S. Lauder, as Grantor and (c) as Trustee of
The 1995 Estée Lauder RSL Trust (a Class B General Partner of Lauder & Sons
L.P.)

 

 

 

 

 

 

 

 

 

/s/ Ira T. Wender

 

Ira T. Wender, (a) as Trustee of The Estée Lauder 1994 Trust, (b) as Trustee of
The 1995 Estée Lauder LAL Trust (a Class B General Partner of Lauder & Sons
L.P.) and (c) as Trustee of The 1995 Estée Lauder RSL Trust (a Class B General
Partner of Lauder & Sons L.P.)

 

4

--------------------------------------------------------------------------------

 

 

Morgan Guaranty Trust Company of New York,

 

in its capacity as pledgee of Ronald S. Lauder

 

 

 

 

 

By:

/s/ Willa B. Baynard

 

 

Name:

Willa B. Baynard

 

 

Title:

Vice President

 

 

5

--------------------------------------------------------------------------------