Document:

Exhibit 4.1

 

AMENDMENT NO. 2

TO

SHAREHOLDER RIGHTS AGREEMENT

 

This Amendment No. 2 to Shareholder Rights Agreement (the “Amendment”) is entered into as of February 5, 2015, by and between Courier Corporation, a Massachusetts corporation (the “Company”), and Computershare Trust Company, N.A., a federally chartered trust company (the “Rights Agent”).

 

WITNESSETH:

 

WHEREAS, the Company is party to the Shareholder Rights Agreement, dated as of March 18, 2009, as amended or supplemented (the “Rights Agreement”), with the Rights Agent.  All capitalized terms used herein and not otherwise defined shall have the meaning ascribed thereto in the Rights Agreement;

 

WHEREAS, pursuant to Section 27 of the Rights Agreement, prior to an occurrence of a Section 11(a)(ii) Event, the Company and the Rights Agent shall, if the Company so directs, supplement or amend any provision of the Rights Agreement without the approval of any holders of certificates representing shares of Common Stock of the Company; and

 

WHEREAS, the Board of Directors of the Company has determined that an amendment to the Rights Agreement as set forth in this Amendment is necessary and desirable and has approved this Amendment, and pursuant to Section 27 of the Rights Agreement, the Company hereby directs that the Rights Agreement be amended as set forth in this Amendment.

 

NOW THEREFORE, in consideration of the premises and the mutual agreements herein set forth, the parties hereby agree as follows:

 

1.                               Amendments to Section 1.

 

(a)                         Section 1 of the Rights Agreement is hereby amended by adding the following definitions:

 

(nn)                  “Buyer Entity” shall mean each of Parent, Merger Sub and Raven Ventures LLC, a Massachusetts limited liability company and a wholly-owned subsidiary of Parent.

 

(oo)                  “Effective Time” shall have the meaning set forth in the Merger Agreement.

 

(pp)                  “Merger” shall have the meaning set forth in the Merger Agreement.

 

(qq)                  “Merger Agreement” shall mean the Agreement and Plan of Merger, dated as of February 5, 2015, by and among Parent,

 

 

Merger Sub, Raven Ventures LLC and the Company, as may be amended from time to time.

 

(rr)                        “Parent” shall mean R.R. Donnelley & Sons Company, a Delaware corporation.

 

(ss)                      “Merger Sub” shall mean Raven Solutions, Inc., a Massachusetts corporation and a wholly-owned subsidiary of Parent.

 

(tt)                        “Seller Shareholder” shall mean those shareholders of Courier Corporation that have entered into a Voting Agreement.

 

(uu)                  “Voting Agreements” shall mean the voting agreements, dated as of February 5, 2015, by and among Parent, Merger Sub and certain Seller Shareholders.

 

(b)                          The definition of “Acquiring Person” in Section 1(a) of the Rights Agreement is hereby amended and supplemented by inserting the following sentence at the end thereof:

 

“Notwithstanding the foregoing or any other provision of this Agreement to the contrary, none of (i) the execution and delivery of the Merger Agreement, (ii) the execution and delivery of any or all of the Voting Agreements, (iii) shareholder approval of the Merger Agreement or (iv) the consummation of the Merger or the other transactions contemplated by the Merger Agreement and the Voting Agreements shall be deemed to result in any Buyer Entity or any of their respective Affiliates or Associates becoming an Acquiring Person.”

 

(c)                           The definition of “Beneficial Owner” in Section 1(d) of the Rights Agreement is hereby amended and supplemented by inserting the following sentence at the end thereof:

 

“Notwithstanding the foregoing or any other provision of this Agreement to the contrary, none of (i) the execution and delivery of the Merger Agreement, (ii) the execution and delivery of any or all of the Voting Agreements, (iii) shareholder approval of the Merger Agreement or (iv) the consummation of the Merger or the other transactions contemplated by the Merger Agreement and the Voting Agreements shall be deemed to result in any Buyer Entity or any of their respective Affiliates or Associates becoming the Beneficial Owner of, or to beneficially own or to have Beneficial Ownership of the shares of Common Stock.”

 

(d)                          The definition of “Stock Acquisition Date” in Section 1(jj) of the Rights Agreement is hereby amended and supplemented by inserting the following sentence at the end thereof:

 

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“Notwithstanding the foregoing or any other provision of this Agreement to the contrary, none of (i) the execution and delivery of the Merger Agreement, (ii) the execution and delivery of any or all of the Voting Agreements, (iii) shareholder approval of the Merger Agreement or (iv) the consummation of the Merger or the other transactions contemplated by the Merger Agreement and the Voting Agreements shall be deemed to result in a Stock Acquisition Date.”

 

2.                               Amendment to Section 3(a).  Section 3(a) of the Rights Agreement is hereby amended and supplemented to add the following sentence at the end thereof:

 

“Notwithstanding anything in this Agreement to the contrary, none of (i) the execution and delivery of the Merger Agreement, (ii) the execution and delivery of any or all of the Voting Agreements, (iii) shareholder approval of the Merger Agreement or (iv) the consummation of the Merger or the other transactions contemplated by the Merger Agreement and the Voting Agreements shall be deemed to result in a Distribution Date.”

 

3.                               Amendment to Section 7(a).  Section 7(a) of the Rights Agreement is hereby amended and restated in its entirety such that Section 7(a) shall read as follows:

 

“(a) Subject to Section 7(e) hereof, the registered holder of any Right Certificate may exercise the Rights evidenced thereby (except as otherwise provided herein) in whole or in part at any time after the Distribution Date upon surrender of the Right Certificate, with the form of election to purchase and the certificate on the reverse side thereof duly executed, to the Rights Agent at the office or offices of the Rights Agent designated for such purpose, together with payment of the aggregate Exercise Price for the total number of one one-thousandths of a share of Preferred Stock (or other securities, cash or other assets, as the case may be) as to which such surrendered Rights are then exercised, at or prior to the earlier of (i) the Close of Business on the tenth anniversary of the Record Date (the “Final Expiration Date”), (ii) the time at which the Rights are redeemed as provided in Section 23 hereof (the “Redemption Date”), (iii) the time at which such Rights are exchanged as provided in Section 24 hereof (the “Exchange Date”), or (iv) immediately prior to the Effective Time (the earliest of (i), (ii), (iii) or (iv) being herein referred to as the “Expiration Date”).  Except as set forth in Section 7(e) hereof and notwithstanding any other provision of this Agreement, any Person who prior to the Distribution Date becomes a record holder of shares of Common Stock of the Company may

 

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exercise all of the rights of a registered holder of a Right Certificate with respect to the Rights associated with such shares of Common Stock of the Company in accordance with the provisions of this Agreement, as of the date such Person becomes a record holder of shares of Common Stock of the Company.”

 

4.                               Amendment to Section 11.  Section 11(a)(ii) of the Rights Agreement is hereby amended and supplemented by adding the following sentence at the end thereof:

 

“For the avoidance of doubt and notwithstanding anything in this Agreement to the contrary, the occurrence of (i) the execution and delivery of the Merger Agreement, (ii) the execution and delivery of any or all of the Voting Agreements, (iii) shareholder approval of the Merger Agreement and/or (iv) the consummation of the Merger or the other transactions contemplated by the Merger Agreement and the Voting Agreements shall not be deemed to be a Section 11(a)(ii) Event and shall not cause the Rights to be adjusted or exercisable in accordance with, or any other action to be taken or obligation to arise pursuant to, this Section 11(a)(ii).”

 

5.                               Amendment to Section 13.  Section 13(a) of the Rights Agreement is hereby amended and supplemented by adding the following sentence at the end thereof:

 

“For the avoidance of doubt and notwithstanding anything in this Agreement to the contrary, the occurrence of (i) the execution and delivery of the Merger Agreement, (ii) the execution and delivery of any or all of the Voting Agreements, (iii) shareholder approval of the Merger Agreement and/or (iv) the consummation of the Merger or the other transactions contemplated by the Merger Agreement and the Voting Agreements shall not be deemed to be a Section 13 Event and shall not cause the Rights to be adjusted or exercisable in accordance with, or any other action to be taken or obligation to arise pursuant to, this Section 13.”

 

6.                                  Notice to Rights Agent. In the event of the occurrence of the Effective Time, the Company shall promptly notify Rights Agent of the Expiration Date.

 

7.                               Effectiveness.  This Amendment shall be deemed effective as of the date first above written, as if executed on such date.  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 terms, conditions, obligations, covenants or agreements contained in the Rights Agreement, all of which are ratified and affirmed in all respects and shall continue in full force and effect and shall be otherwise unaffected.

 

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8.                               Governing Law.  This Amendment shall be deemed to be a contract made under the laws of the Commonwealth of Massachusetts and for all purposes shall be governed by and construed in accordance with the laws of such commonwealth applicable to contracts to be made and performed entirely within such commonwealth.

 

9.                               Counterparts.  This Amendment may be executed in any number of counterparts, which shall for all purposes be deemed an original, and all such counterparts together shall constitute but one and the same instrument. A signature to this Amendment executed and/or transmitted electronically shall have the same authority, effect, and enforceability as an original signature.

 

[Remainder of page has intentionally been left blank]

 

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

 

	
 
    	
 
    	
COURIER   CORPORATION
    
	
 
    	
 
    	
 
    
	
Attest:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
/s/   Rajeev Balakrishna
    	
 
    	
By:
    	
/s/   James F. Conway III
    
	
Name:   Rajeev Balakrishna
    	
 
    	
Name:   James F. Conway III
    
	
Title:   Senior Vice President and General Counsel
    	
 
    	
Title:   President and Chief Executive Officer
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
COMPUTERSHARE   TRUST COMPANY, N.A.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Attest:
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
/s/   Mindi Altman
    	
 
    	
By:
    	
/s/   Dennis V. Moccia
    
	
Name:   Mindi Altman
    	
 
    	
Name:   Dennis V. Moccia
    
	
Title:   AVP, Investor Services
    	
 
    	
Title:   Manager, Contract Administration
    
					

 

(Signature Page to Amendment to Rights Agreement)Unassociated Document

LOCK-UP AGREEMENT

THIS LOCK-UP AGREEMENT (this “Lock-Up Agreement”), dated as of February 4, 2015, by and among Gulf Resources, Inc., a Delaware corporation (the “Company”) and the undersigned shareholders (collectively, the “Shareholders”).

 

WHEREAS, the Shareholders are the registered holders of 7,268,011shares of the Company (the “Shares”).

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree:

Section 1.                     (a)            In connection with the acquisition of Shouguang City Rongyuan Chemical that was made to assist the Company with its future operations, the Company issued the Shares to the Shareholders who are confident with respect to the Company’s future growth.  As such, the Shareholders agree not, directly or indirectly, offer, sell, contract to sell, pledge, encumber, tender, assign or grant any option or warrant to purchase or otherwise dispose of or offer to dispose of (collectively, “Transfer”) the Shares for a period commencing on the date the stock certificates evidencing the Shares are issued to the Shareholders and ending on the fifth (5th) anniversary of the date of such issuances (the “Lock-up Period”), inclusive, without the prior written consent of the Company.

(b)            If (i) the Company issues an earnings release or material news, or a material event relating to the Company occurs, during the last 17 days of the Lock-up Period, or (ii) prior to the expiration of the Lock-up Period, the Company announces that it will release earnings results during the 16-day period beginning on the last day of the Lock-up Period, the restrictions imposed by this agreement shall continue to apply until the expiration of the 18-day period beginning on the issuance of the earnings release or the occurrence of the material news or material event, unless the Company waives such extension.

 

(c)  For the purpose of effectuating this Lock-Up Agreement, the Shareholders hereby consent to the Company issuing a stop transfer instruction to its transfer agent in accordance with the terms of this Lock-Up Agreement. Any Transfer of Shares in violation of this Lock-Up Agreement by the Shareholders without the consent of the Company shall constitute a material breach of this Lock-Up Agreement.  The Shareholders acknowledge and agrees that the Shares may bear a legend regarding the restrictions set forth in this Section 1.

(d)           The Shareholders acknowledge that its breach or impending violation of any of the provisions of this Lock-Up Agreement may cause irreparable damage to the Company for which remedies at law would be inadequate. The Shareholders further acknowledge and agree that the provisions set forth herein are essential terms and conditions of the Lock-Up Agreement that the Company may seek to enforce in addition to any of its rights or remedies provided under any other agreement decree or order by any court of competent jurisdiction enjoining such impending or actual violation of any of such provisions. Such decree or order, to the extent appropriate, shall specifically enforce the full performance of any such provision by the Shareholders. This remedy shall be in addition to all other remedies available to the Company at law or equity.

Section 2.                      This Lock-Up Agreement shall inure to the benefit of and be binding upon the Company and its successors and assigns, and upon the Shareholders and their heirs, executors, administrators, legatees and legal representatives.

Section 3.                      Should any part of this Lock-Up Agreement, for any reason whatsoever, be declared invalid, illegal, or incapable of being enforced in whole or in part, such decision shall not affect the validity of any remaining portion, which remaining portion shall remain in full force and effect as if this Lock-Up Agreement had been executed with the invalid portion thereof eliminated, and it is hereby declared the intention of the parties hereto that they would have executed the remaining portion of this Lock-Up Agreement without including therein any portion which may for any reason be declared invalid.

 

  

  

  

 

Section 4.                      This Lock-Up Agreement shall be construed and enforced in accordance with the laws of the State of New York applicable to agreements made and to be performed in such State without application of the principles of conflicts of laws of such State.

Section 5.                      This Lock-Up Agreement and all rights hereunder are personal to the parties and shall not be assignable, and any purported assignment in violation thereof shall be null and void.

 

Section 6.                      (a)           All notices, requests, demands and other communications to any party hereunder shall be in writing and shall be given to such party at its address or telecopier number set forth on the signature page hereto, or such other address or telecopier number as such party may hereinafter specify by notice to each other party hereto.

 

(b)           Each notice, request or other communication shall be effective (i) if given by telecopy, when such telecopy is transmitted to the telecopy number specified herein and a confirmation of the telecopy being sent is received or, (ii) if given by certified mail, 72 hours after such communication is deposited in the mails with first class and certified postage prepaid, properly addressed or, (iii) if given by any other means, when delivered at the address specified on the signature page hereto.

Section 7.                      The failure of either party to insist upon the strict performance of any of the terms, conditions and provisions of this Lock-Up Agreement shall not be construed as a waiver or relinquishment of future compliance therewith, and said terms, conditions and provisions shall remain in full force and effect. No waiver of any term or any condition of this Lock-Up Agreement on the part of either party shall be effective for any purpose whatsoever unless such waiver is in writing and signed by such party.

[signature page follows]

 

  

  

  

 

IN WITNESS WHEREOF, the parties hereto have executed this Lock-Up Agreement as of the day and year first written above.

 

	  	
COMPANY:

 

GULF RESOURCES, INC.

 

 

By:    _______________________________

Name:

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Address:

 

 

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SHAREHOLDERS:

 

 

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