Document:

Exhibit 10.8

 

 

Final Terms dated 17 March 2010

 

 

LBG Capital No.2 plc

U.S.$407,578,000 7.875 per cent. Fixed Rate Dated Enhanced Capital Notes due 2020 (the “ECNs”)

under the £5,000,000,000 Enhanced Capital Note Programme

unconditionally and irrevocably guaranteed by

 

Lloyds TSB Bank plc

 

PART A — CONTRACTUAL TERMS

 

Terms used herein shall be deemed to be defined as such for the purposes of the Conditions (the “Conditions”) set forth in the Prospectus dated 1 December 2009 and the supplemental Prospectus dated 5 March 2010 (together, the “Prospectus”) which together constitute a base prospectus for the purposes of the Prospectus Directive (Directive 2003/71/EC) (the “Prospectus Directive”). This document constitutes the Final Terms of the ECNs described herein for the purposes of Article 5.4 of the Prospectus Directive and must be read in conjunction with such Prospectus. Full information on LBG Capital No.2 plc and Lloyds TSB Bank plc and the offer of the ECNs is only available on the basis of the combination of these Final Terms and the Prospectus. The Prospectus is available for viewing at, and copies may be obtained from, Lloyds TSB Bank plc at 25 Gresham Street, London EC2V 7HN.

 

	
1

	
Issuer:

	
LBG Capital No.2 plc

	
2

	
Guarantor:

	
Lloyds TSB Bank plc

	
3

	
(i)     Series Number:

	
3

	  	
(ii)    Tranche Number:

	
1

	
4

	
Dated/Undated ECNs:

	
Dated ECNs

	
5

	
Specified Currency or Currencies:

	
U.S. dollars (“U.S.$”)

	
6

	
Aggregate Nominal Amount:

	  
	  	
(i)     Series:

	
U.S.$407,578,000

	  	
(ii)    Tranche:

	
U.S.$407,578,000

	
7

	
(i)     Specified Denominations:

	
U.S.$100,000 plus integral multiples of U.S.$1,000 in excess thereof up to and including U.S.$199,000. No ECNs in definitive form will be issued with a denomination above U.S.$199,000

	  	
(ii)    Calculation Amount:

	
U.S.$1,000

	
8

	
(i)     Issue Date:

	
19 March 2010

	  	
(ii)    Interest Commencement Date:

	
Issue Date

	
9

	
Maturity Date:

	
19 March 2020

	
10

	
Interest Basis:

	
7.875 per cent. per annum Fixed Rate

	  	  	
(further particulars specified below)

	
11

	
Redemption/Payment Basis:

	
Redemption at par

	
12

	
Change of Interest or Redemption/Payment Basis:

	
Not Applicable

	
13

	
Call Options:

	
Redemption Due to Taxation and Redemption For Regulatory Purposes

	  	  	
(further particulars specified below)

 

  

1

  

 

 

	
14

	
Status of the ECNs:

	
Subordinated as described in Condition 3(b)

	
15

	
Status of the Guarantee:

	
Subordinated as described in Condition 4(b)

	
16

	
Method of distribution:

	
Non-syndicated

	
PROVISIONS RELATING TO INTEREST PAYABLE

	
17

	
Fixed Rate ECN Provisions

	
Applicable

	  	
(i)      Rates of Interest:

	
7.875 per cent. per annum payable semi-annually in arrear

	  	
(ii)     Interest Payment Dates:

	
19 March and 19 September in each year commencing on 19 September 2010

	  	
(iii)     Fixed Coupon Amounts:

	
U.S.$39.38 per Calculation Amount

	  	
(iv)     Day Count Fraction:

	
30/360

	  	
(v)      Determination Dates:

	
Not Applicable

	  	
(vi)     Other terms relating to the method of calculating interest for Fixed Rate ECNs:

	
Not Applicable

	
18

	
Floating Rate ECN Provisions

	
Not Applicable

	
19

	
Fixed/Floating Rate ECN Provisions

	
Not Applicable

	
PROVISIONS RELATING TO CONVERSION

	
20

	
Conversion Price

	
GBP 0.592093

	  	
(subject to adjustment as provided in the Deed Poll)

	  
	
PROVISIONS RELATING TO REDEMPTION

	
21

	
Issuer Call Option

	
Not Applicable

	
22

	
Redemption Due to Taxation

	
Applicable

	  	
Tax Event Redemption Price:

	
U.S.$1,000 per Calculation Amount

	
23

	
Redemption For Regulatory Purposes

	
Applicable

	  	
Capital Disqualification Event Redemption Price:

	
U.S.$1,000 per Calculation Amount

	
24

	
Make Whole Redemption Price

	
Not Applicable

	
25

	
Final Redemption Amount

	
U.S.$1,000 per Calculation Amount

	
GENERAL PROVISIONS APPLICABLE TO THE NOTES

	
26

	
Form of ECNs:

	
Bearer ECNs:

	  	  	
Temporary Global Note exchangeable for a Permanent Global Note which is exchangeable for Definitive Notes in the limited circumstances specified in the Permanent Global Note

	
27

	
Financial Centre(s) or other special provisions relating to payment dates:

	
New York and London

	
28

	
Talons for future Coupons or Receipts to be attached to Definitive Notes (and dates

	
No

 

 

  

2

  

 

	  	
on which such Talons mature):

	  
	
29

	
Redenomination, renominalisation and reconventioning provisions:

	
Not Applicable

	
30

	
Consolidation provisions:

	
Not Applicable

	
31

	
Additional U.S. Federal Tax Considerations:

	
Not Applicable

	
32

	
Other final terms:

	
Not Applicable

	
DISTRIBUTION

	
33

	
(i) If syndicated, names of Managers:

	
Not Applicable

	  	
(ii) Stabilising Manager(s) (if any):

	
Not Applicable

	
34

	
If non-syndicated, name of Dealer:

	
Lloyds TSB Bank plc (acting through Lloyds TSB Corporate Markets)

	
35

	
U.S. Selling Restrictions:

	
Reg S Category 2; TEFRA D

	
36

	
Additional selling restrictions:

	
Not Applicable

 

 

LISTING AND ADMISSION TO TRADING APPLICATION

 

These Final Terms comprise the final terms required for issue and admission to trading of the ECNs described herein pursuant to the £5,000,000,000 Enhanced Capital Note Programme of LBG Capital No.1 plc and LBG Capital No.2 plc.

 

  

3

  

 

RESPONSIBILITY OF THE ISSUER

 

 

LBG Capital No.2 plc accepts responsibility for the information contained in these Final Terms.

 

 

	
Signed on behalf of LBG Capital No.2 plc:

 

 

	
By: .................................................

	
Duly authorised

 

RESPONSIBILITY OF THE GUARANTOR

 

Lloyds TSB Bank plc accepts responsibility for the information contained in these Final Terms.

 

 

	
Signed on behalf of Lloyds TSB Bank plc:

 

 

	
By: .................................................

	
Duly authorised

 

  

4

  

 

PART B — OTHER INFORMATION

 

	
1

	
LISTING

	  
	  	
(i)    Listing:

	
London

	  	
(ii)    Admission to trading:

	
Application has been made for the ECNs to be admitted to trading on the regulated market of the London Stock Exchange with effect from 19 March 2010

	  	
(iii)    Estimate of total expenses related to 

admission to trading:

	
£4,200

	  	
(iv)    Listing Agent:

	
The Bank of New York Mellon

	
2

	
RATINGS

	  
	  	
Ratings:

	
The ECNs to be issued are expected to be rated:

	  	  	
Fitch: BB

	  	  	
S&P: BB

	
3

	
NOTIFICATION

	  
	  	
Not Applicable

	
4

	
INTERESTS OF NATURAL AND LEGAL PERSONS INVOLVED IN THE OFFER

	  	
So far as LBG Capital No.2 plc is aware, no person involved in the offer of the ECNs has an interest material to the offer.

	
5

	
REASONS FOR THE OFFER, ESTIMATED NET PROCEEDS AND TOTAL EXPENSES

	  	
(i)     Reasons for the offer:

	
The ECNs have been issued in exchange for and cancellation of JPY 20,000,000,000 8.07 per cent. ECNs due 2020 (ISIN XS0459091152) and JPY 17,000,000,000 6.75 per cent. ECNs due 2020 (ISIN XS0459091319)

	  	
(ii)    Estimated net proceeds:

	
Not Applicable

	  	
 (iii)    Estimated total expenses:

	
Not Applicable

	
6

	
OPERATIONAL INFORMATION

	  	
ISIN Code:

	
XS0496068429

	  	
Common Code:

	
049606842

	  	
Any clearing system(s) other than Euroclear Bank S.A./N.V. and Clearstream Banking, société anonyme (including the Depository Trust Company) and the relevant identification number(s):

	
Not Applicable

	  	
Delivery:

	
Delivery versus payment

	  	
Names and addresses of additional Paying Agent(s) (if any):

	
Not Applicable

 

 

510.28 First Amendment to Second AR 2006 Long-TermIncentivePlan

FIRST AMENDMENT TO
CARRIAGE SERVICES, INC. 
SECOND AMENDED AND RESTATED 
2006 LONG-TERM INCENTIVE PLAN

WHEREAS, Carriage Services, Inc. (“Carriage”) has heretofore adopted the Carriage Services, Inc. Second Amended and Restated 2006 Long-Term Incentive Plan (the “LTIP”); 
WHEREAS, pursuant to Section 13.1 of the LTIP, the board of directors of Carriage may amend the LTIP at any time; and
WHEREAS, the Board has determined that it is in the best interests of Carriage to amend the LTIP in certain respects and that such amendments do not require the approval of Carriage’s stockholders.
NOW, THEREFORE, the LTIP shall be amended as follows effective as of March 3, 2014:
1.    Section 7.4 of the LTIP shall be deleted and the following shall be substituted therefor:
“7.4     Exercise of Options. 
(a)     Subject to the terms and conditions of the Plan, Options shall be exercised by delivery of a written notice of exercise to Carriage, setting forth the number of whole shares of Common Stock with respect to which the Option is to be exercised, accompanied by full payment of the applicable exercise price for such shares. 
(b)    The applicable exercise price of an Option shall be paid to Carriage in full in any combination of the following forms: (i) in cash (or an equivalent thereof acceptable to the Committee) or (ii) to the extent permitted by applicable law, in the sole discretion of the Committee and in accordance with any applicable administrative guidelines established by the Committee from time to time: (A) by tendering one or more previously acquired nonforfeitable, unrestricted shares of Common Stock having an aggregate Fair Market Value at the time of exercise equal to the aggregate exercise price for the shares as to which such Option is being exercised so long as the shares being tendered have been held for at least the period of time necessary to avoid a charge to Carriage’s earnings for financial accounting purposes, (B) through a “cashless” exercise program established with a broker, (C) on a net-settlement basis with Carriage reducing the number of shares of Common Stock otherwise deliverable upon the exercise of such Option by a number of whole shares of Common Stock with an aggregate Fair Market Value at the time of exercise sufficient to cover the aggregate exercise price of such Option and the applicable tax withholding obligation, if any, with respect to the exercise of such Option or (D) in any other form of legal consideration that may be acceptable to the Committee or permitted under the applicable Award Agreement.  

    

(c)     Notwithstanding any other provision of the Plan to the contrary, no Participant who is an Outside Director or an “executive officer” of Carriage within the meaning of Section 13(k) of the Exchange Act shall be permitted to make payment with respect to any Option granted under the Plan, or continue any extension of credit with respect to such payment, with a loan from Carriage or an Affiliate (or a loan arranged by Carriage or an Affiliate) in violation of Section 13(k) of the Exchange Act. 
(d)    As soon as reasonably practicable after receipt of written notification of exercise of an Option and full payment of the exercise price and satisfaction of all applicable tax withholding obligations with respect to such exercise, Carriage shall (i) deliver to the Participant, in the Participant’s name or the name of the Participant’s designee, a stock certificate or certificates in an appropriate aggregate amount based upon the number of shares of Common Stock purchased under such Option, or (ii) cause to be issued in the Participant’s name or the name of the Participant’s designee, in book-entry form, an appropriate number of shares of Common Stock based upon the number of shares purchased under such Option.”
2.    Except as expressly modified by this First Amendment, the terms of the LTIP shall remain in full force and effect and are hereby confirmed and ratified.

2

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