Document:

First Amendment to the Registration Rights Agreement

 Exhibit 4.7 
  

FIRST AMENDMENT TO THE REGISTRATION RIGHTS AGREEMENT 
  
 FIRST AMENDMENT TO THE REGISTRATION RIGHTS
AGREEMENT (this “Amendment”), dated as of January 27, 2005, among Del Laboratories, Inc. (“Del”), Del’s subsidiaries listed on the signature pages hereto (the
“Guarantors”) and Bear, Stearns & Co. Inc., J.P. Morgan Securities Inc. and Deutsche Bank Securities Inc. (each, an “Initial Purchaser” and together, the “Initial
Purchasers”). 
  
 W I T N E S S E T H 
  
 WHEREAS, DLI Acquisition Corp., a Delaware corporation (the “DLI
Acquisition”) has heretofore executed and delivered to the Initial Purchasers the Registration Rights Agreement (the “Registration Rights Agreement”), dated as of January 27, 2005, among DLI Acquisition and the
Initial Purchasers, providing for registration rights with respect to $175,000,000 in aggregate principal amount of 8.00% Senior Subordinated Notes due 2012 (the “Initial Notes”) issued and sold to the Initial Purchasers by
DLI Acquisition; 
  
 WHEREAS, concurrently herewith, DLI
Acquisition is being merged with and into Del, with Del as the surviving company (the “Merger”); and 
  
 WHEREAS, the Registration Rights Agreement provides that at the Time of Merger Del and the Guarantors will agree to become bound by the Registration
Rights Agreement pursuant to this Amendment; 
  
 NOW, THEREFORE,
in consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged, Del, the Guarantors and the Initial Purchasers mutually agree as follows: 
  
 1. CAPITALIZED TERMS. Capitalized terms used
herein without definition shall have the meanings assigned to them in the Registration Rights Agreement. 
  
 2. AGREEMENT TO ASSUME. Del hereby acknowledges and agrees that, pursuant to the Merger, it has assumed by
operation of law all of the obligations of DLI Acquisition under the Registration Rights Agreement and hereafter shall be deemed to be “DLI Acquisition” (as defined in the Purchase Agreement) for all purposes under the Registration Rights
Agreement. Del shall succeed to, and be substituted for, and may exercise every right and power of DLI Acquisition under the Registration Rights Agreement with the same effect as if Del had been named as “DLI Acquisition” in the
Registration Rights Agreement. 
  
 3. AGREEMENT
TO BE BOUND. Del hereby agrees that it is a party to the Registration Rights Agreement and agrees to be bound by all of the obligations of the “Company” (as defined in the Registration Rights
Agreement) under the Registration Rights Agreement. Del hereby acknowledges and agrees to all of the agreements and covenants of the “Company” contained in the Registration Rights Agreement and hereby makes all of the representations and
warranties of the “Company” contained in the Registration Rights Agreement, in each case as provided in the Registration Rights Agreement. Del may exercise every right and power of the “Company” under the Registration Rights
Agreement. 

 Each of the Guarantors hereby agrees that it is a party to the Registration Rights Agreement and agrees
to bound by all of the obligations of a “Guarantor” (as defined in the Registration Rights Agreement) under the Registration Rights Agreement. Each of the Guarantors hereby acknowledges and agrees to all of the agreements and covenants of
a “Guarantor” contained in the Registration Rights Agreement and hereby makes all of the representations and warranties of the “Guarantors” contained in the Registration Rights Agreement, in each case as provided in the
Registration Rights Agreement. Each Guarantor may exercise every right and power of a “Guarantor” under the Registration Rights Agreement. 
  
 5. CONSTRUCTION. THIS AMENDMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO THE CONFLICT OF
LAW RULES THEREOF. 
  
 6. COUNTERPARTS. This
Amendment may be executed in any number of counterparts and by the parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement.

  
 7. HEADINGS. The headings in this Amendment are
for convenience of reference only and shall not limit or otherwise affect the meaning hereof. 
  
 8. RATIFICATION OF REGISTRATION RIGHTS AGREEMENT. Except as expressly amended hereby, the Registration Rights Agreement is in all respects
ratified and confirmed and all the terms, conditions and provisions thereof shall remain in full force and effect. This Amendment shall form a part of the Registration Rights Agreement for all purposes. 
  
 (Signature pages follow) 
  

 2 

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed as of the date
first above written. 
  

					
	 COMPANY
  

	 DEL LABORATORIES, INC.

		
	 By:
	 	 /s/ Enzo J. Vialardi

	 Name:
	 	 Enzo J. Vialardi

	 Title:
	 	Executive Vice President and Chief Financial Officer
	
	 GUARANTORS
  

	 DEL PHARMACEUTICALS, INC.

	 565 BROAD HOLLOW REALTY CORP.

	 PARFUMS SCHIAPARELLI, INC.

	 ROYCE & RADER, INC.

	 DEL PROFESSIONAL PRODUCTS, INC.

		
	 By:
	 	 /s/ Enzo J. Vialardi

	 Name:
	 	 	 	 Enzo J. Vialardi

	 Title:
	 	 	 	Executive Vice President and Chief Financial Officer

					
	 Accepted and agreed to as of

	 the date first above written:

	
	INITIAL PURCHASERS
	
	 BEAR, STEARNS & CO. INC.

		
	 By:
	 	 /s/ James S. Wolfe

	 Name:
	 	 James S. Wolfe

	 Title:
	 	 Senior Managing Director

	
	 J.P. MORGAN SECURITIES INC.

		
	 By:
	 	 /s/ Matthew J. Lyness

	 Name:
	 	 Matthew J. Lyness

	 Title:
	 	 Managing Director

	
	 DEUTSCHE BANK SECURITIES INC.

		
	 By:
	 	 /s/ Sean Murphy

	 Name:
	 	 Sean Murphy

	 Title:
	 	 Director

		
	 By:
	 	 /s/ Eric Klar

	 Name:
	 	 Eric Klar

	 Title:
	 	 DirectorFinancial Advisory Agreement

 Exhibit 10.1 
  
 DLI Holding, Corp. 
 c/o Kelso & Company, L.P. 
 320 Park Avenue, 24th Floor 
 New York, NY 10022 
  
 January 27, 2005 
  
 Kelso & Company, L.P. 
 320 Park Avenue,
24th Floor 
 New York,
New York 10022 
  
 Ladies and Gentlemen: 
  
 DLI Holding, Corp. (the “Company”) hereby agrees to retain
you, Kelso & Company, L.P. (“Kelso”), and any of your affiliates or designees (collectively, with Kelso, the “Kelso Group”), to provide consulting and advisory services to the Company commencing on the date
hereof for a term ending on the date on which Kelso and its affiliates cease to own any shares of common stock of the Company. Such services may include (i) assisting in the raising of additional debt and equity capital from time to time for
the Company, if deemed advisable by the Board of Directors of the Company, (ii) assisting the Company in its long-term strategic planning generally, (iii) providing the Company with financial, investment banking, management advisory
and other services with respect to proposed transactions directly or indirectly involving the Company or any of its subsidiaries (collectively, the “Transaction Services”) and (iv) providing such other consulting and advisory
services as the Company may reasonably request. 
  
 In
consideration of the Kelso Group’s providing the foregoing services (other than Transaction Services), the Company will pay Kelso an annual advisory fee of $1.2 million, payable quarterly in advance on January 1, April 1, July 1 and October 1
(or the first business day following each such date), provided that the first payment will be due on the date hereof and shall be in an amount pro-rated for the period from the date hereof to March 31, 2005. If the Kelso Group invests additional
equity in the Company or any of its affiliates on one or more occasions after the date hereof, then, in each such case, the Company and Kelso will negotiate in good faith to effect a mutually acceptable increase to such advisory fee. In
consideration of the Kelso Group’s providing Transaction Services, the Company will pay Kelso a fee to be agreed between the Company and Kelso. The Company shall reimburse Kelso promptly for the Kelso Group’s out-of-pocket costs and
expenses incurred in connection with any investment by the Kelso Group in the Company, whether made on or after the date hereof (the “Acquisition”). Such costs and expenses shall include, but not be limited to, those incurred by the
Kelso Group in the course of monitoring its investment in the Company and performing Kelso’s duties (including, without limitation, Transaction Services) hereunder. 

 The Company will indemnify each member of the Kelso Group, and their respective officers, directors,
partners, employees, agents and control persons (as such term is used in the Securities Act of 1933, as amended, and the rules and regulations thereunder) to the full extent lawful against any and all claims, losses and expenses as incurred
(including all reasonable fees and disbursements of any such indemnitee’s counsel and other out-of-pocket expenses incurred in connection with the investigation of and preparation for any such pending or threatened claims and any litigation or
other proceedings arising therefrom) arising in connection with the Acquisition or such indemnitee’s investment in the Acquisition or out of any services rendered by the Kelso Group hereunder or any such indemnitee being a controlling person of
the Company or any of its subsidiaries, provided, however, there shall be excluded from such indemnification any such claim, loss or expense to the extent that it is based upon any action or failure to act by such indemnitee that is
found in a final judicial determination to constitute gross negligence or intentional misconduct on such indemnitee’s part. The Company will advance costs and expenses, including attorney’s fees, incurred by any such indemnitee in
defending any such claim in advance of the final disposition of such claim upon receipt of an undertaking by or on behalf of such indemnitee to repay amounts so advanced if it shall ultimately be determined that such indemnitee is not entitled to be
indemnified by the Company pursuant to this Agreement. 
  
 The
Company’s obligations set forth in this Agreement shall survive the termination of Kelso’s services pursuant to the first paragraph of this Agreement. 
  

This Agreement may not be amended or revised except by a writing signed by the parties. 
  
 This agreement shall be governed by the laws of the State of New York. 
  
 [remainder of the page intentionally left blank] 
  

 2 

 If you are in agreement with the foregoing, kindly so indicate by signing a counterpart of this letter,
whereupon it will become a binding agreement between us. 
  

					
	 Very truly yours,

	
	 DLI HOLDING, CORP.

		
	 By:
	 	 /s/ William McMenemy

	 Name:
	 	 William McMenemy

	 Title:
	 	 President and Chief Executive Officer

  

							
	 Agreed and accepted:

	
	 KELSO & COMPANY, L.P.

		
	 By:
	 	 Kelso & Companies, Inc.,

	 	 	 its general partner

			
	 	 	 By:
	 	 /s/ James J. Connors, II

	 	 	 Name:
	 	 James J. Connors, II

	 	 	 Title:
	 	 Vice President, General Counsel
 and Secretary

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