Document:

Exhibit 4(j)

 

Amendment
to Securityholders Agreement

 

August 24, 2001

 

Reference is made to the Securityholders and
Registration Rights Agreement dated as of March 13, 2000, by and among DPL
Inc. (the “Company”), DPL Capital Trust I, Dayton Ventures LLC (the “Equity
Purchaser”) and Dayton Ventures, Inc. (the “Trust Preferred
Purchaser”) (the “Securityholders Agreement”) and to the Purchase
Agreement, dated as of August 23, 2001, between the Company and the Trust
Preferred Purchaser (the “Purchase Agreement”).

 

The undersigned hereby consent and agree
that, effective upon the consummation of the Closing (as defined in the
Purchase Agreement) under the Purchase Agreement, (a) Section 2.4 (a) of
the Securityholders Agreement shall be amended to delete therefrom
subparagraphs (v), (vi) and (vii) and which subparagraphs shall be of
no further force or effect from and after the consummation of the Closing (as
defined in the Purchase Agreement) of the Purchase Agreement and (b) without
in any way diminishing or prejudicing the rights held by the Equity Purchaser,
its affiliates (other than the Trust Preferred Purchaser), its Transferees (as
defined in the Securityholders Agreement) and its permitted assignees, the
Trust Preferred Purchaser shall have no further rights or obligations under the
Securityholders Agreement.

 

This Agreement 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 instrument. 
This Agreement may be executed by facsimile signature(s).

 

This Agreement shall terminate upon any
termination of the Purchase Agreement.

 

Except as expressly provided herein, the
provisions of the Securityholders Agreement are hereby ratified and confirmed
by the parties and shall remain in full force and effect.  All references in the Securityholders
Agreement to “this Agreement” shall be read as references to the
Securityholders Agreement, as modified by this letter.

 

[Signature page follows.]

 

 

IN WITNESS WHEREOF, the Parties have executed
this Agreement as of the date first above written.

 

	
   

  	
  DPL INC.

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  DPL CAPITAL TRUST I

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  DAYTON VENTURES LLC

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  DAYTON VENTURES, INC.

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
   

  	
  Title:Exhibit 4(k)

 

December 6, 2004

 

PERSONAL AND CONFIDENTIAL

 

DPL Capital Trust I

1065 Woodman Drive

Dayton, OH 45432

 

Dayton Ventures LLC

c/o Kohlberg, Kravis Roberts & Co. LP

9 W. 57th Street

New York, NY 10019

 

Dayton Ventures, Inc.

c/o Kohlberg, Kravis Roberts & Co. LP

9 W. 57th Street

New York, NY 10019

 

Lehman Brothers Inc.

745 Seventh Avenue

New York, NY 10019

Attention:  Jeremy Heckerling

 

GLG Neutral Market Fund

c/o GLG Partners LP

Attn:  Antonio Dos Santos

1 Curzon Street

London W1J5HB

England

 

Ladies and Gentlemen:

 

Reference is made to that certain
Securityholders and Registrations Rights Agreement (the “Agreement”), by and
among DPL Inc., DPL Capital Trust I, Dayton Ventures LLC and Dayton Ventures, Inc.
dated March 13, 2000.  Capitalized
terms used herein but not defined herein have the respective meanings given
them in the Agreement.

 

This letter agreement will confirm that Section 8.3 of the Agreement shall be amended to read in full as follows:

 

SECTION 8.3  Amendments and Waivers.  Except as provided herein, no modification,
amendment or waiver of any provision of this Agreement shall be effective
against any party hereto unless such modification, amendment or waiver is
approved in

 

 

writing by all Holders
holding 10% or more of the Warrants and Warrant Shares then outstanding.  If there is no 10% Holder, then the modification, amendment or waiver must be approved in writing by a majority of the Holders of the Warrants and Warrant Shares then
outstanding.  The failure of any
party to enforce any of the provisions of this Agreement shall in no way be
construed as a waiver of such provisions and shall not affect the right of such party thereafter to enforce each and
every provision of this Agreement in accordance with its terms.

 

 

Very truly
yours,

 

 

	
  DPL INC.

  
	
   

  
	
   

  
	
  By:

  	
   

  	
   

  
	
   

  	
  Name: James V. Mahoney

  
	
   

  	
  Title: President and Chief Executive
  Officer

  
				

 

 

Confirmed and Agreed to:

 

 

	
  DPL CAPITAL TRUST I

  
	
   

  
	
   

  
	
  By:

  	
   

  	
   

  
	
   

  	
  Name: James V. Mahoney

  
	
   

  	
  Title: Administrative Trustee

  
	
   

  	
   

  
	
  Dated: December 6, 2004

  
				

 

 

	
  DAYTON VENTURES LLC

  
	
   

  
	
   

  
	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  
	
   

  	
   

  
	
  Dated:

  	
   

  	
   

  
						

 

 

	
  DAYTON VENTURES, INC.

  
	
   

  
	
   

  
	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  
	
   

  	
   

  
	
  Dated:

  	
   

  	
   

  
						

 

 

	
  LEHMAN BROTHERS INC.

  
	
   

  
	
   

  
	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  
	
   

  	
   

  
	
  Dated:

  	
   

  	
   

  
						

 

 

	
  GLG MARKET NEUTRAL FUND

  
	
   

  
	
   

  
	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  
	
   

  	
   

  
	
  Dated:Exhibit 4(l)

 

AMENDMENT
TO SECURITYHOLDERS AND REGISTRATION RIGHTS AGREEMENT

 

This AMENDMENT TO THE SECURITYHOLDERS AND
REGISTRATION RIGHTS AGREEMENT (this “Amendment”) is made as of January
12, 2005, and is between Dayton Ventures LLC, DPL and Lehman Brothers, Inc.  Capitalized terms used and not otherwise defined herein have the meanings set forth in the Securityholders and Registration Rights Agreement, dated as of March 13,
2000, by and among the parties hereto, as amended by the amendments dated August 24,
2001 and December 6, 2004 (as amended, the “Agreement”).

 

BACKGROUND

 

1.                                       Each of the
parties hereto is a party to the Agreement.

 

2.                                       Pursuant to Section 8.3
of the Agreement, the Agreement may be amended in writing by all Holders
holding 10% or more of the Warrants and Warrant Shares then outstanding.

 

3.             The parties hereto desire to amend certain restrictions on transfers of the Warrants and Voting Preferred Shares under the Agreement.

 

NOW , THEREFORE, in consideration of the
mutual promises and covenants contained herein and for other valuable
consideration, the receipt and sufficiency of which is hereby acknowledged, the
parties, intending legally to be bound, hereby agree as follows:

 

1.                                       Amendment to Section 1.1.  Section 1.1 of the Agreement is hereby
amended by deleting the definition of “Excess Warrants” in its entirety.

 

2.             Amendment
to Article II.  Each of Sections
2.1, 2.2, 2.3, 2.4(a)(i), 2.4(a)(ii), 2.4(a)(iii), 2.5 and 2.6 of the Agreement
is hereby deleted in its entirety.

 

3.             Amendment
to Section 3.1.  Each of
Sections 3.1(b)(ii) and 3.1(b)(iii) of the Agreement is hereby
deleted in its entirety.

 

4.                                       Amendment to
Sections 3.2, 3.3, 3.4 and 3.5.  Each
of Sections 3.2, 3.3, 3.4 and 3.5 of the Agreement is hereby deleted in its
entirety.

 

5.                                       Amendment to Article V.  Article V of the Agreement is hereby
deleted in its entirety.

 

6.                                       Amendment to Section 8.2.  Section 8.2(iv) of the Agreement is
hereby deleted in its entirety.

 

 

7.                                       No Other
Amendments.  Except as so modified pursuant to this
Amendment, the Agreement is ratified and confirmed in all respects. This Amendment shall be
effective as of the date hereof.

 

[Signature Page Follows]

 

 

IN WITNESS WHEREOF, this Amendment has been
duly executed and delivered by the individuals whose names appear below and by
the duly authorized representatives of each party hereto as of the first date
written.

 

 

	
  DPL INC.

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  DAYTON VENTURES LLC

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  LEHMAN BROTHERS INC.

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:Exhibit
10(c)

 

AMENDMENT NO. 1

TO

THE
DAYTON POWER AND LIGHT COMPANY

1991
AMENDED DIRECTORS’ DEFERRED COMPENSATION PLAN

(As
Amended Through December 31, 2000)

WITH
RESPECT TO

THE
AMERICAN JOBS CREATION ACT OF 2004

 

WHEREAS, The Dayton Power
and Light Company and DPL Inc. (collectively, the “Company”) adopted The Dayton
Power and Light Company 1991 Amended Directors’ Deferred Compensation Plan (As
Amended Through December 2, 2003) (the “Plan”); and

 

WHEREAS, the Plan is
classified as a “nonqualified deferred compensation plan” under the Internal
Revenue Code of 1986, as amended (the “Code”); and

 

WHEREAS, the American
Jobs Creation Act of 2004, P.L. 108-357 (the “AJCA”) added a new Section 409A
to the Code, which significantly changed the Federal tax law applicable to “amounts
deferred” under the Plan after December 31, 2004; and

 

WHEREAS, pursuant to the
AJCA, the Secretary of the Treasury and the Internal Revenue Service will issue
proposed, temporary or final regulations and/or other guidance with respect to
the provisions of new Section 409A of the Code (collectively, the “AJCA
Guidance”); and

 

WHEREAS, the AJCA
Guidance has not yet been issued; and

 

WHEREAS, all amounts
credited to each Director’s Standard Deferral Account under the Plan are 100%
vested; and

 

WHEREAS, to the fullest
extent permitted by Code Section 409A and the AJCA Guidance, the Company wants
to protect the “grandfathered” status of the amounts credited to each Director’s
Standard Deferral Account that are deferred and vested prior to January 1,
2005;

 

NOW THEREFORE, the
Company hereby adopts this Amendment No. 1 to the Plan, which amendment is
intended to (1) allow amounts deferred and vested prior to January 1, 2005 to
qualify for “grandfathered” status and continue to be governed by the law
applicable to nonqualified deferred compensation prior to the addition of Code
Section 409A (as specified in the Plan as in effect before the adoption of this
Amendment No. 1) and (2) cause amounts deferred after December 31, 2004 to be
deferred in compliance with the requirements of Code Section 409A.

 

Words and phrases used
herein with initial capital letters that are defined in the Plan are used
herein as so defined.

 

Section 1

 

Section 1 of the Plan is
hereby amended by adding the following three paragraphs at the end thereof:

 

“It is
intended that the Plan comply with the provisions of Section 409A of the
Internal Revenue Code (the “Code”), as enacted by the American Jobs Creation
Act (“AJCA”), so as to prevent the

 

 

inclusion in gross income
of any amounts deferred hereunder in a taxable year that is prior to the
taxable year or years in which such amounts would otherwise actually be
distributed or made available to the Directors. It is intended that the Plan
shall be administered in a manner that will comply with Section 409A of the
Code, including any proposed, temporary or final regulations or any other
guidance issued by the Secretary of the Treasury and the Internal Revenue
Service with respect thereto (collectively with the AJCA, the “AJCA Guidance”)
and the Plan is hereby deemed amended to the extent necessary to achieve such
compliance. Any provisions of the Plan that would cause the Plan to fail to
satisfy Section 409A of the Code shall have no force and effect.

 

It is
intended that no action be taken with respect to the Plan that would violate
any provision of Section 409A of the Code. It is intended that the Directors’
elections hereunder will comply with Code Section 409A and the AJCA Guidance. The
Compensation Committee is authorized to adopt rules or regulations deemed
necessary or appropriate in connection therewith to anticipate and/or comply
with the requirements thereof (including any transition rules thereunder). In
this regard, the Compensation Committee is authorized to permit the Directors
to make elections with respect to amounts deferred after December 31, 2004 and
is also permitted to give the Directors the right to amend or revoke such
elections in accordance with the AJCA Guidance.

 

The
Company, acting through the Compensation Committee, shall have the authority to
adopt an amendment to the Plan that conforms the terms of the Plan to the
requirements of Section 409A of the Code at such time as the Company determines
that the AJCA Guidance provides sufficient clarity to permit such amendment. Notwithstanding
Section 11 of the Plan, the Company shall not be required to obtain the consent
of any person to such amendment, and such amendment shall apply to deferral
elections made and other actions taken with respect to the Plan between the
date of Amendment No. 1 to the Plan and the date of such amendment to the
extent set forth in such amendment.”

 

EXECUTED this         
day of                                ,
2004.

 

	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  

 

2

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