Document:

Exhibit

EXHIBIT 4.9

FIRST SUPPLEMENTAL INDENTURE 

FIRST SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”), dated as of March 15, 2016, among Jarden Corporation, a Delaware corporation (the “Company”), the Guarantors (as defined in the Indenture referred to herein) and Wells Fargo Bank, N.A., as trustee under the Indenture referred to below (the “Trustee”).
W I T N E S S E T H
WHEREAS, the Company has heretofore executed and delivered to the Trustee the Base Indenture, dated as of October 30, 2015, by and between the Company, the Guarantors named therein and the Trustee, (the “Indenture”), providing for the issuance of the Company’s 5% Senior Notes due 2023 (the “Notes”);
WHEREAS, pursuant to Sections 9.01(9) of the Indenture, the Company, the Guarantors and the Trustee may, without the consent of any Holder of a Note, conform the text of the Indenture to any provision of the “Description of Notes” section of the Offering Memorandum to the extent such provision was intended to be a verbatim recitation of a provision of the Indenture and pursuant to Section 9.01(1) of the Indenture the Company, the Guarantors and the Trustee may, without the consent of any Holder of a Note, amend or supplement the Indenture, to cure any ambiguity, defect or inconsistency in the Indenture; 
WHEREAS, the Company and the Guarantors desire to conform Section 10.04 of the Indenture with the guarantor release provision set forth in the “Description of Notes” section in the Offering Memorandum as Section 10.04 of the Indenture was intended to be a verbatim recitation of the guarantor release provision set forth in the “Description of Notes” and to cure a numbering defect and/or inconsistency in the Indenture, respectively (such conforming language and cure is referred to herein as the “Amendment”);
WHEREAS, the Amendment conforms a provision of the Indenture with a provision set forth in the “Description of Notes” section in the Offering Memorandum and cures a numbering defect and/or inconsistency under the Indenture, respectively, and, therefore, the Company, the Guarantors and the Trustee are authorized pursuant to Section 9.01 of the Indenture to execute and deliver this Supplemental Indenture without the consent of any holder;
WHEREAS, all acts and requirements necessary to make this Supplemental Indenture the legal, valid and binding obligation of the Company and the Guarantors have been taken; and
WHEREAS, this Supplemental Indenture has not resulted in a material modification of the Notes for Foreign Account Tax Compliance Act purposes.  
NOW THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged, the Company, the Guarantors and the Trustee mutually covenant and agree for the equal and ratable benefit of the Holders of the Notes as follows:

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1.    CAPITALIZED TERMS.     Capitalized terms used herein without definition shall have the meaning assigned to them in the Indenture.
2.    AMENDMENT. Section 10.04 of the Indenture shall be deleted in its entirety and replaced with the following:
Section 10.04     Releases.
The obligations of any Guarantor under its Note Guarantee will be automatically and unconditionally released and discharged when any of the following occurs:
(1)upon the sale or other disposition (including by way of consolidation or merger) of such Guarantor; 
(2)upon the sale or disposition of all or substantially all of the assets of such Guarantor; 
(3)upon the release of such Guarantor from its guarantee, if any, and of all pledges and security, if any, granted by such Guarantor in connection with the Credit Facility;
(4)upon the designation of such Guarantor as an Unrestricted Subsidiary pursuant to the terms of this Indenture; or
(5)if the Company exercises its Legal Defeasance option or Covenant Defeasance option in accordance with Article 8 hereof or if the Company’s obligations under this Indenture are discharged in accordance with Article 11 hereof;
in the case of clauses (1) and (2) of this Section 10.04, other than to the Company or an Affiliates and as permitted by this Indenture, and the Company must comply with Section 4.10 hereof in respect of such disposition.
Any Guarantor not released from its obligations under its Note Guarantee as provided in this Section 10.04 will remain liable for the full amount of principal of, premium on, if any, and interest, if any, on, the Notes and for the other obligations of any Guarantor under this Indenture as provided in this Article 10.  At the request of the Company, the Trustee shall execute and deliver an appropriate instrument evidencing the release of a Guarantor pursuant to this Section 10.04.
3.    Except to the extent amended hereby, the Indenture and the Notes shall remain in full force and effect.  
4.    NEW YORK LAW TO GOVERN.  THE INTERNAL LAWS OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO CONSTRUE THIS SUPPLEMENTAL INDENTURE BUT WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY.

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5.    COUNTERPARTS.  The parties may sign any number of copies of this Supplemental Indenture.  Each signed copy shall be an original, but all of them together represent the same agreement.
6.    EFFECT OF HEADINGS.  The Section headings herein are for convenience only and shall not affect the construction hereof.
7.    THE TRUSTEE.  The Trustee shall not be responsible in any manner whatsoever for or in respect of the validity or sufficiency of this Supplemental Indenture or for or in respect of the recitals and statements contained herein, all of which recitals and statements are made solely by the Company.
[signature page follows]

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

	
	
	THE COMPANY:

JARDEN CORPORATION

By:   /s/ John E. Capps
Name:  John E. Capps   
Title:    Executive Vice President -Administration
                General Counsel and Secretary

	THE TRUSTEE:

WELLS FARGO BANK, N.A.

By:  /s/ Martin Reed
Name: Martin Reed   
Title: Vice President   

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THE GUARANTORS :

ALLTRISTA PLASTICS LLC
AMERICAN HOUSEHOLD, INC.
AUSTRALIAN COLEMAN, INC.
BICYCLE HOLDING, INC.
BRK BRANDS, INC.
CC OUTLET, INC.
COLEMAN INTERNATIONAL HOLDINGS, LLC
COLEMAN WORLDWIDE CORPORATION
ENVIROCOOLER, LLC
FIRST ALERT, INC.
HEARTHMARK, LLC
HOLMES MOTOR CORPORATION
JARDEN ACQUISITION I, LLC
JARDEN ZINC PRODUCTS, LLC
JOSTENS, INC.
JT SPORTS LLC
K-2 CORPORATION
KANSAS ACQUISITION CORP.
L.A. SERVICES, INC.
LASER ACQUISITION CORP.
LEHIGH CONSUMER PRODUCTS LLC
LIFOAM HOLDINGS, LLC
LIFOAM INDUSTRIES, LLC
LIFOAM PACKAGING SOLUTIONS, LLC
LOEW-CORNELL, LLC
MARKER VOLKL USA, INC.
MARMOT MOUNTAIN, LLC
MIKEN SPORTS, LLC
NIPPON COLEMAN, INC.
OUTDOOR SPORTS GEAR, INC.
OUTDOOR TECHNOLOGIES CORPORATION
PENN FISHING TACKLE MFG. CO.
PURE FISHING, INC.
QMC BUYER CORP.
QUICKIE HOLDINGS, INC.
QUICKIE MANUFACTURING CORPORATION
QUOIN, LLC
RAWLINGS SPORTING GOODS COMPANY, INC.
REXAIR HOLDINGS, INC.
REXAIR LLC
SEA STRIKER, LLC
SHAKESPEARE COMPANY, LLC
SHAKESPEARE CONDUCTIVE FIBERS, LLC
SI II, INC.
SITCA CORPORATION

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SUNBEAM AMERICAS HOLDINGS, LLC
SUNBEAM PRODUCTS, INC.
THE COLEMAN COMPANY, INC.
THE UNITED STATES PLAYING CARD COMPANY
THE YANKEE CANDLE COMPANY, INC.
USPC HOLDING, INC.
VISANT CORPORATION
VISANT HOLDING CORP.
VISANT SECONDARY HOLDINGS CORP.
WADDINGTON GROUP, INC.
WNA HOLDINGS, INC.
WADDINGTON NORTH AMERICA, INC.
YANKEE CANDLE INVESTMENTS LLC

By:  /s/ John E. Capps
Name:  John E. Capps
Title:    Vice PresidentExhibit

EXHIBIT 10.3

May 11, 2016

Michael Polk
Via email

Dear Mike,
 
I am very pleased to offer you the revised compensation for your role as Chief Executive Officer of Newell Brands Inc. (“Newell” or “Company”).   This position will be located in our corporate headquarters to be located in New Jersey effective September 1.  Your employment will be in all respects governed by the terms set forth in your previously agreed compensation arrangement dated June 23, 2011, subject to the following modifications:
		
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	Your starting salary will be $56,250 per pay period (paid semi-monthly), $1,350,000 annualized.   

		
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	You will be eligible to participate in the Newell Leadership Equity Award Program (LEAP), subject to its terms, with a target annual award having a grant value of 861% of your annual base salary amount. Your LEAP award for 2016 shall be granted at the same time as other 2016 LEAP awards are granted to senior executives of the Company generally. Long-term incentive awards at your level are expected to be 100% performance-based restricted stock units, as decided by the Organizational Development and Compensation Committee of the Board of Directors (the “Committee”).  Actual share payouts for performance-based LEAP awards may range between 0-200% of target based on Company and individual performance.  The final terms of all LEAP grants shall be as determined by the Committee.  

		
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	You will be eligible to participate in our Management Bonus Plan. Your target bonus will be 150% of earned base salary. Your bonus payout opportunity ranges from 0-200% of your targeted payout amount. Payout targets and bonus criteria are reviewed each year and may change from time to time.

		
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	All other components of your previous compensation arrangement will remain in effect.

Mike, we are pleased you will continue to support our company Growth Game Plan and contribute to Newell’s success.

Sincerely,

/s/ Michael T. Cowhig
Michael T. Cowhig
Chairman of the Board of Directors
 
Accepted this 11th day of May, 2016:
 
/s/Michael B. Polk 
SignatureExhibit

EXHIBIT 10.4

Michael B. Polk
Chief Executive Officer

May 12, 2016

Mark Tarchetti
Via email

Dear Mark,
 
I am very pleased to offer you the position of President of Newell Brands Inc. (“Newell” or “Company”).   This position will be located in our corporate headquarters in New Jersey effective September 1, and at our offices in New York City until then, and will report to Michael Polk, Chief Executive Officer.
Your employment in this role commenced effective April 15, 2016 (the “Employment Commencement Date” or “ECD”). Your starting salary will be $41,667 per pay period (paid semi-monthly), $1,000,000 annualized.  Within thirty days of the date of this letter, you will be paid, in a lump sum, an amount as necessary to reflect an adjustment to your annualized base salary to $800,000 retroactive to February 10, 2016 (calculated up to the ECD), and further adjustment of your annualized base salary to $1,000,000 retroactive to April 15, 2016. 
You will be eligible to participate in the compensation and benefits programs as outlined below, as well as all other compensation and benefits programs applicable to employees at your level.
		
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	Leadership Equity Award Program (LEAP):  You will be eligible to participate in the Newell Leadership Equity Award Program (LEAP), subject to its terms, with a target annual award having a grant value of 700% of your annual base salary amount. Your LEAP award for 2016 shall be granted at the same time as other 2016 LEAP awards are granted to senior executives of the Company generally. Long-term incentive awards at your level are expected to be 100% performance-based restricted stock units, as decided by the Organizational Development and Compensation Committee of the Board of Directors (the “Committee”).  Actual share payouts for performance-based LEAP awards may range between 0-200% of target based on Company and individual performance.  The final terms of all LEAP grants shall be as determined by the Committee.  

		
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	Management Bonus Plan: You will be eligible to participate in our Management Bonus Plan. Your target bonus is 100% of earned base salary. Your bonus payout opportunity ranges from 0-200% of your targeted payout amount. Payout targets and bonus criteria are reviewed each year and may change from time to time.

		
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	Integration Equity Grant.  You will be provided with an award of 124,463 Restricted Stock Units (RSUs)   (the “Integration Grant”), which will be granted upon approval by the Committee on May 10, 2016 (“Grant Date”). The number of RSUs was determined by dividing $5,500,000 by Newell’s closing stock price on April 14, 2016. One-third of these RSUs will vest on each year anniversary of the grant date, subject to the Company’s achievement of at least $100 million of total cost and expense reductions resulting from Project Renewal and from the integration of Jarden Corporation (“Jarden”) operations and personnel during the performance period beginning April 15, 2016 and 

6655 Peachtree Dunwoody Road     Atlanta, GA 30328     Phone +1 (770) 418-7885     Fax +1 (770) 677-8889

ending April 30, 2017.  Following the grant date, you will receive notification from Fidelity to accept your grant on their website. The RSU Award Agreement you accept on the Fidelity website thereafter governs the terms of this Integration Grant.   

Post-Termination. If your employment is terminated by the Company for any reason other than Good Cause (defined below), you shall be entitled to the following compensation and benefits:
		
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	Severance pay in a total amount calculated pursuant the US Newell Severance Plan, in effect on the date of your termination, that applies to executives at your level (“Severance Plan”), presently providing 52 weeks of weekly base compensation thereunder, subject to applicable limitation as to amount under the Severance Plan, which severance will be payable in a lump sum no later than 60 days after your termination date (provided that if such 60-day period begins in one calendar year and ends in a second calendar year, such payment shall be made in the second calendar year). This severance offer also includes any other benefits in the Severance Plan that run concurrently with severance pay under the Severance Plan, which may include a COBRA subsidy and outplacement services. 

		
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	Your Management Bonus prorated by a fraction, the numerator of which is the number of days in the fiscal year in which your date of termination occurs through your date of termination and the denominator of which is three hundred sixty-five (365).  This partial bonus payment will not be subject to any individual performance modifier, but will be paid out on the basis of actual corporate performance levels; provided that the Committee may exercise negative discretion to reduce the amount payable to a target payout level where the payout based upon achievement of actual performance levels exceeds the target payout.  This partial bonus will be paid at the same time as Management Bonuses are paid to active Company employees, no later than March 15th of the following year.

		
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	All unvested stock options and LEAP awards shall forfeit except for a pro rata portion of those LEAP awards and stock options which would have otherwise vested during the 3-year period after your termination date. The portion of your unvested LEAP and option awards which shall be permitted to vest as if you remained employed during that 3-year period shall be calculated on a pro rata basis for each individual award to reflect the number of days between the grant date and your termination date relative to the total number of days constituting the vesting period of such award.

		
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	Any unvested portion of the Integration Grant which would have otherwise vested during the 3-year period after your termination date shall thereafter vest and become payable at such time, if any, as any performance goals applicable to the Integration Grant have been satisfied (without regard to any time-based vesting requirements, which requirements will cease to apply). 

		
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	“Good Cause” is defined as failure or refusal to follow a lawful order of the Board of Directors, Newell’s senior management or your direct supervisor; misconduct; and/or violating Newell policy or its Code of Conduct & Ethics. 

		
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	You will be required to sign a reasonable separation agreement (including confidentiality, non-solicitation and non-competition obligations) and release of claims provided to you by Newell in order for you to receive the foregoing severance items. 

		
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	These above-described severance provisions are in lieu of any payments or benefits under any US or other severance pay plan, statute or regulation. 

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	Notwithstanding anything else set forth herein to the contrary, in the event you are actually entitled to receive benefits following a termination of your employment under your Employment Security Agreement as a result of the occurrence of a Change in Control (as defined therein) prior to your termination, you will not be entitled to receive severance benefits pursuant to this letter agreement, and your severance benefits will be governed exclusively by the terms of your Employment Security Agreement, unless you elect to receive severance benefits under the terms of this letter and waive any benefits to which you are entitled under the Employment Security Agreement.

Please note:

You will be solely responsible for any associated tax filings and payment of taxes associated with your employment, without any gross-up or additional compensation from the Company, provided that the Company will withhold taxes at what it determines to be appropriate rates and in what it determines to be appropriate jurisdictions based on the information available to the Company.

Payments and benefits provided under this letter are intended to be exempt from, or comply with, Section 409A of the Internal Revenue Code, which is the law that regulates severance pay. This offer letter shall be construed, administered, and governed in a manner that affects such intent, and Newell shall not take any action that would be inconsistent with such intent. Without limiting the foregoing, the payments and benefits provided under this letter may not be deferred, accelerated, extended, paid out or modified in a manner that would result in a the imposition of additional tax under Code Section 409A. Although Newell shall use its best efforts to avoid the imposition of taxation, interest and penalties under Code Section 409A, the tax treatment of the benefits provided under this letter is not warranted or guaranteed. Neither the Company nor its affiliates nor its or their directors, officers, employees or advisers shall be held liable for any taxes, interest, penalties or other monetary amounts owed by you or any other taxpayer as a result of this letter.

Mark, we are pleased you will continue to support our company Growth Game Plan and contribute to Newell’s success. This is a significant career opportunity, and we will count on your leadership to make a difference throughout Newell Brands.

Sincerely,
 
/s/Michael B. Polk

Michael B. Polk
Chief Executive Officer
 

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This offer is irrevocable and open for your acceptance until 5:00 PM EST on May 12, 2016. To indicate your acceptance of this offer, please sign in the space provided below and return it to me. 

This offer is intended to lay out all elements of your compensation. Compensation offers outside this letter agreement, or a previous offer letter, are not binding and will not be honored, so you should make sure you are clear on all parts of your offer and future expectations before signing this letter agreement. Benefits programs, however, may change from year to year, so your benefits such as medical, dental, vision, retirement, and time off will be governed by the benefit plans in place at any given time.
 
Your signature indicates acknowledgement that if employed, your employment is to be "at will" which means that either the Company or you may terminate your employment at any time, with or without notice, subject to the terms of this letter agreement above.
 
By signing this letter, you represent and warrant that you are not a party to any agreement that would limit your ability to work for Newell Brands Inc. You further represent and warrant that your employment with Newell Brands Inc. will not require you to disclose or use any confidential, proprietary or trade secret information belonging to your prior employers. You additionally understand and acknowledge that Newell Brands Inc. does not require nor want you to disclose any such confidential, proprietary or trade secret information.
 
 /s/Mark Tarchetti
Signature
 
May 12, 2016
Date

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