Document:

Exhibit 4.1

 

AMENDMENT
NO. 2 TO

AGREEMENT
AND PLAN OF MERGER

 

THIS
AMENDMENT NO. 2 TO AGREEMENT AND PLAN OF MERGER, dated
as of July 14, 2004 (this “Amendment”), is made and entered into by and
among Luxottica Group S.p.A., an Italian corporation (“Parent”), Colorado Acquisition
Corp., a Delaware corporation and an indirect wholly-owned subsidiary of Parent
(“Merger Sub”), and Cole National Corporation, a Delaware corporation (the
“Company”).  Capitalized terms used
herein but otherwise not defined shall have the meaning given to such terms in
the Merger Agreement (as defined below).

 

WHEREAS, Parent, Merger Sub and the Company have entered into that
certain Agreement and Plan of Merger, dated as of January 23, 2004 (the
“Original Merger Agreement”) as amended by Amendment No. 1, dated as of
June 2, 2004 (“Amendment No. 1” and together with the Original Merger
Agreement, the “Merger Agreement”), which contemplates the merger of Merger Sub
with and into the Company upon the terms and subject to the conditions set
forth in the Merger Agreement; and

 

WHEREAS, Parent, Merger Sub and the Company desire to amend the Merger
Agreement as set forth below;

 

NOW, THEREFORE, in consideration of the mutual agreements contained
herein and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto agree as
follows:

 

ARTICLE I

AMENDMENT TO MERGER AGREEMENT

 

1.1  Definition of Merger
Price.  Notwithstanding anything to
the contrary in the Merger Agreement, references in the Merger Agreement to
“Merger Price” shall mean $26.00 per share in cash; provided however,
that if, on or prior to the Outside Date (as defined below), the condition set
forth in Section 6.01(a) of the Merger Agreement shall have been
satisfied, references in the Merger Agreement to “Merger Price” shall mean the
sum of (a) $27.50 per share in cash plus (b) an additional amount per share in
cash, rounded to the nearest cent, equal to (x) $27.50, multiplied by
(y) 0.04, multiplied by (z) a fraction, the numerator of which is the
number of days that shall have elapsed from the date upon which the condition
set forth in Section 6.01(a) of the Merger Agreement shall have been
satisfied to and including the Closing Date, and the denominator of which is 365.  “Outside Date” shall mean July 22,
2004; provided, however, that if the Company does not have proxies on
July 22, 2004 from the holders of a majority of the outstanding Shares in
favor of the Merger, Outside Date shall mean July 29, 2004.

 

1.2  Amendment of
Section 5.04(a).   The second
sentence of Section 5.04(a) of the Merger Agreement is hereby amended and
restated in its entirety to read as follows:

 

 

In furtherance of the foregoing, Parent shall, and shall cause its
Subsidiaries to, take all such actions, including, without limitation (x)
proposing, negotiating, committing to and effecting, by consent decree, hold
separate order, or otherwise, the sale, divestiture or disposition of such
assets or businesses of Parent or any of its Subsidiaries or, after the
Effective Time, of the Company or of any of its Subsidiaries and (y) otherwise
taking or committing to take actions that limit or would limit Parent’s or its
Subsidiaries’ (including, after the Effective Time, the Company’s and its
Subsidiaries’ as Subsidiaries of Parent) freedom of action with respect to, or
its ability to retain, one or more of their respective businesses, product
lines or assets, in each case as may be required in order to avoid the entry
of, or to effect the dissolution of, any injunction, temporary restraining
order, or other order in any suit or proceeding, which would otherwise have the
effect of preventing or materially delaying the Closing.

 

1.3  Amendment of
Section 5.07(b).   The first
sentence of Section 5.07(b) of the Merger Agreement is hereby amended and
restated in its entirety to read as follows:

 

The Company agrees that, prior to the Effective Time, it shall not,
directly or indirectly, and shall not permit or cause any of its Subsidiaries
to, nor shall it authorize or permit any Company Representatives or any of its
directors to, directly or indirectly, (i) initiate, solicit or encourage
(including by way of furnishing non-public information or assistance) the
making of any proposal or offer concerning an Acquisition Proposal or (ii)
engage in any discussions or negotiations concerning, or provide any non-public
information or data to any person relating to, an Acquisition Proposal, whether
made before or after the date of this Agreement unless, after the date hereof
and prior to the time that the condition set forth in Section 6.01(a) of
this Agreement shall have been satisfied, (A) the Company receives a bona fide
unsolicited written proposal that constitutes an Acquisition Proposal, (B) the
Board in good faith reasonably determines, after consultation with its
independent financial advisors, that such Acquisition Proposal may reasonably
be expected to result in a Superior Acquisition Proposal, (C) the Board
determines in good faith that such action is necessary in order for its
directors to comply with their fiduciary duties under applicable law, (D) the
Company (x) shall have provided at least 48 hours’ advance written notice to
Parent that it intends to take such action, together with the identity of the
person making the Acquisition Proposal and the terms and conditions of such
proposal and (y) shall have received from such person an executed customary
confidentiality agreement containing terms no less stringent in all material
respects, than those terms contained in the Confidentiality Agreement,
including, in any event, a prohibition on such person from purchasing or
otherwise acquiring any capital stock of the Company while such person is
engaged in negotiations with the Company, provided that the Company shall
promptly notify Parent if and when such prohibition is no longer in effect; provided,
that such confidentiality agreement shall not contain any exclusivity provision
or other term that would prevent the Company from consummating the transactions
contemplated by this Agreement, and (E) the Company shall have made available
to Parent the same nonpublic information being furnished to such person; provided,
however, that nothing contained herein shall prevent the Company from
complying with Rule 14e-2 and Rule 14d-9 promulgated under the Exchange Act
with regard to an Acquisition Proposal or from making any disclosure to the
stockholders of the Company as, in the good faith judgment of the Board (after
consultation with outside counsel), is required by its fiduciary duties or
under applicable law.

 

 

1.4  Amendment of
Section 5.07(c).  
Section 5.07(c) of the Merger Agreement is hereby amended and
restated in its entirety to read as follows:

 

(c) The Board (or any
committee thereof) shall not (i) withdraw, modify or change, or propose
publicly to withdraw, modify or change, in a manner adverse to Parent, the
Company Board Recommendation (as defined in Section 5.08) other than as
permitted pursuant to Section 5.07(e), (ii) approve or recommend, or
propose publicly to approve or recommend, any Acquisition Proposal, or (iii)
cause the Company or any of its Subsidiaries to enter into or approve any
letter of intent, agreement in principle, acquisition agreement or similar
agreement relating to any Acquisition Proposal (an “Acquisition Agreement”)
unless (A) prior to the time that the condition set forth in
Section 6.01(a) of this Agreement shall have been satisfied, the Board has
received an Acquisition Proposal and within five business days of receipt of such
Acquisition Proposal the Board has reasonably determined in good faith (after
having consulted with outside legal counsel and its independent financial
advisors) that such Acquisition Proposal is a Superior Acquisition Proposal and
that it is necessary for the Board to terminate this Agreement or withdraw,
modify or change the Company Board Recommendation in order for its directors to
comply with their fiduciary duties under applicable law and (B) the Company has
notified Parent in writing of the terms of the Superior Acquisition Proposal
and the determinations described in clause (A) above and of its intent to take
such action, and has taken into account any revised proposal made by Parent to
the Company (a “Revised Parent Proposal”) within three business days after
Parent’s receipt of such notice and the Board again has reasonably determined
in good faith after consultation with its outside legal counsel and independent
financial advisors that such Acquisition Proposal remains a Superior
Acquisition Proposal.  Notwithstanding
any of the foregoing provisions of this Section 5.07 (c) or any other term
or provision of this Agreement to the contrary, the Company shall not in any
event enter into any Acquisition Agreement with any person (or any affiliate of
such person or any person which was to have provided financing to such person
in connection therewith) which had made an Acquisition Proposal that had,
first, been determined to be a Superior Acquisition Proposal under clause (A)
of the preceding sentence but which had been thereafter determined not to be a
Superior Acquisition Proposal after Parent had made a Revised Parent Proposal
under clause (B) of the preceding sentence.

 

1.5 Amendment of Section 5.09.   Section 5.09 of the Merger Agreement is hereby amended by
adding the following sentence at the end thereof:

 

Subject to the following sentence, the Company shall, through its
Board, take all action necessary, in accordance with and subject to the DGCL
and its certificate of incorporation and bylaws, to convene and hold, on
July 22, 2004, a meeting of its stockholders constituting an adjournment
of its 2004 annual meeting of stockholders to consider and vote upon the
adoption and approval of this Agreement and the Merger (such meeting, the
“Merger Meeting”).  The Company shall
not adjourn the Merger Meeting unless it does not have proxies on July 22,
2004 from the holders of a majority of the outstanding Shares in favor of the
Merger or unless the Board determines in good faith (after consultation with outside
legal counsel) that such action is required by applicable law.

 

 

1.6 Amendment of Section 7.01(d).  Section 7.01(d) of the Merger Agreement is hereby amended
and restated in its entirety to read as follows:

 

(d)  by the Company, (i) if
there shall have occurred, on the part of Parent or Merger Sub, a breach of any
representation, warranty, covenant or agreement contained in this Agreement
that (x) would result in a failure of a condition set forth in
Section 6.03(a) or Section 6.03(b) and (y) which is not curable or,
if curable, is not cured within thirty (30) calendar days after written notice
of such breach is given by the Company to Parent, or (ii) if, prior to the
satisfaction of the condition set forth in Section 6.01(a), a third party,
including any group, shall have made a Superior Acquisition Proposal and the
Board has taken any of the actions referred to in clauses (i), (ii) or (iii) of
Section 5.07(c) (but only after compliance by the Board and the Company
with the requirements of clauses (A) and (B) thereof);

 

ARTICLE II

MISCELLANEOUS

 

2.1  No Waiver.  Nothing in this Amendment shall constitute a
waiver by Parent, Merger Sub or the Company of any breach or default on the
part of any party to the Merger Agreement.

 

2.2  Governing Law; Jurisdiction.  The provisions of Section 8.05 of the
Merger Agreement shall apply to this Amendment as if references to “Agreement”
therein were to this Amendment.

 

2.3  No Other Agreements.  This Amendment together with the Merger
Agreement (as amended by this Amendment and including the documents and
instruments referred to therein), the Confidentiality Agreement and the letter
agreement dated April 23, 2004 between Parent and the Company constitute
the entire agreement of the parties with respect to the subject matter hereof
and thereof and supersedes all prior agreements or understandings, both written
and oral, between the parties with respect to the subject matter hereof and
thereof.

 

2.4  Effect.  Except as expressly set forth herein, this
Amendment shall not by implication or otherwise alter, modify, amend or in any
way affect any of the representations, warranties, terms, conditions,
obligations, covenants or agreements contained in the Merger Agreement, all of
which shall continue in full force and effect in accordance with their
respective terms.  For the avoidance of
doubt, the execution, delivery and effectiveness of this Amendment shall not
constitute a reaffirmation,  remaking, withdrawal
or modification as of the date of this Amendment of any of the representations,  warranties or covenants of any party hereto.

 

2.5  Counterparts; Execution
and Delivery by Facsimile.  This
Amendment may be executed in two or more counterparts, each of which shall be
deemed to be an original, but all of which shall constitute one and the same
agreement.  This Amendment may be
executed and delivered by facsimile, with such delivery to be as effective as
delivery of an originally executed counterpart hereof.

 

 

[Signature Page Follows]

 

 

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

 

 

	
   

  	
  LUXOTTICA GROUP S.P.A.

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Leonardo Del Vecchio

  	
   

  
	
   

  	
   

  	
  Name: Leonardo Del Vecchio

  	
   

  
	
   

  	
   

  	
  Title: Chairman

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  COLORADO ACQUISITION CORP.

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Michael A. Boxer

  	
   

  
	
   

  	
   

  	
  Name: Michael A. Boxer

  	
   

  
	
   

  	
   

  	
  Title: Secretary

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  COLE NATIONAL CORPORATION

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Leslie D. Dunn

  	
   

  
	
   

  	
   

  	
  Name: Leslie D. Dunn

  	
   

  
	
   

  	
   

  	
  Title: Senior Vice PresidentEXHIBIT 4.1

                         [ACS Holdings, Inc. letterhead]

                                  July 12, 2004

Terence Byrne
Bartholomew International Investments Ltd., Inc.
216 Hidden Pines Dr.
Panama City Beach, Fl 32408

Dear Mr. Byrne:

      This letter agreement memorializes our agreement as to amending that
certain Consulting Services Agreement dated February 12, 2004, by and between
maxxZone.com, Inc., a Nevada corporation (the "Company"), and Bartholomew
International Investments Ltd., Inc., as amended on April 22, and June 3, 2004
(the "Agreement"). All capitalized terms used herein shall be ascribed those
definitions provided for in the Agreement.

      Section 6 of the Agreement is hereby amended so that the Company shall
issue an additional fifty million (50,000,000) shares of common stock of the
Company (the "Shares") to Consultant for the performance of the Consulting
Services to the Company.

      If you agree with the foregoing, please sign below and return a copy of
this letter to me by facsimile today and the original by overnight delivery.

                                            Sincerely,

                                            Walter H. Roder II

ACKNOWLEDGED AND AGREED:

Bartholomew International Investments Ltd., Inc.

By:  ________________________________

     Name:  _________________________

     Title: _________________________

Dated:  ____________________

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