Document:

exv10w4

 

EXHIBIT 10.4

FORM OF IRREVOCABLE PROXY

     In connection with the purchase of                      shares of common stock of HAPC, Inc., a Delaware
corporation (the “Company”) by I-Flow Corporation, a Delaware corporation (“I-Flow”), pursuant to
the Share Purchase Agreement dated as of October 18, 2007 (the “Agreement”) between I-Flow and the
undersigned, the undersigned hereby irrevocably (to the fullest extent permitted by law) appoints
I-Flow Corporation, Donald M. Earhart and Jack H. Halperin as the sole and exclusive
attorneys-in-fact and proxies of the undersigned, with full power of substitution and
resubstitution, to vote and exercise all voting rights of the undersigned with respect to the
Shares acquired pursuant to the Agreement (the “Shares”), including, without limitation, all voting
rights relating to the Company’s Special Annual Meeting of Stockholders that convened on September
26, 2007 and was adjourned to October 19, 2007, and at any further adjournment thereof. Upon the
execution of this Proxy, any and all prior proxies given by the undersigned with respect to any of
the Shares are hereby revoked and the undersigned agrees not to grant any subsequent proxies with
respect to the voting rights granted by this Proxy until after the Expiration Time (as defined
below).

     This Proxy is irrevocable (to the fullest extent permitted by law) and is coupled with an
interest. As used herein, the term “Expiration Time” shall mean the tenth anniversary of the date
of this Proxy.

     Each of the attorneys-in-fact and proxies named above is hereby authorized and empowered by
the undersigned, at any time prior to the Expiration Time, to act as the undersigned’s
attorney-in-fact and proxy to vote the Shares, and to exercise all voting, consent and similar
rights of the undersigned with respect to the Shares (including, without limitation, the power to
execute and deliver written consents), at every annual, special or adjourned meeting of
stockholders of the Company and in every written consent in lieu of such meeting.

     Any obligation of the undersigned hereunder shall be binding upon the successors, heirs and
legal or personal representatives of the undersigned, and shall survive the death or incapacity of
the undersigned.

     This Proxy shall terminate, and be of no further force and effect, automatically at the
Expiration Time.

	 	 	 	 	 	 
	WITNESS:  

[                    ]	 	BENEFICIAL HOLDER:

[                    ]

 	 
	 	 	By:  	 	 
	 	 	 	Name:  	 	 
	 	 	 	Title:exv10w5

 

EXHIBIT 10.5

SECOND FORM OF SHARE PURCHASE AGREEMENT

     The undersigned Seller and Buyer have entered into this Share Purchase Agreement dated as of
October 18, 2007 for Seller’s sale of shares of common stock of HAPC, Inc. to Buyer.

     1. Seller hereby sells, and Buyer hereby buys, the Shares of Common Stock of HAPC, Inc.
specified below for the Purchase Price specified below effective immediately, such sale to settle
on the Settlement Date specified below.

Number of Shares: ______________

Purchase Price per Share: $______________________

Settlement Date: October ____ , 2007

     2. Seller holds the Shares through

________________________________.

[Identify broker/custodian]

     3. Seller represents and warrants that (a) it has held the Shares since August 6, 2007, the
record date for HAPC, Inc.’s Special Annual Meeting of Stockholders, currently scheduled to be
re-convened on October 19, 2007 and (b) either purchased the Shares in HAPC’s initial public
offering or in an open market purchase. Seller hereby agrees to promptly and timely provide (and,
if applicable, cause the record holder of the Shares to provide) to Buyer a “legal proxy” and all
other documents necessary to enable Buyer to vote the Shares at such meeting or any adjournment
thereof. Seller represents and warrants that it has not transferred the right to vote the Shares
to any other person.

     4. Seller hereby provides Buyer with an irrevocable proxy with respect to the Shares in the
form attached. Seller hereby agrees to promptly and timely vote the Shares in favor of all
recommendations of the Board of HAPC, Inc., and to maintain such vote (and provide evidence thereof
to Buyer), until such time as Buyer is able to submit the irrevocable proxy to HAPC, Inc.

     5. Seller acknowledges that Buyer, as counterparty to a transaction with HAPC, Inc., has
material nonpublic information relating to such transaction. Seller has had the opportunity to ask
any questions and receive answers about such information and Buyer’s purchase of the Shares.
Seller is satisfied by reason of its own knowledge and investigation, and not in reliance on any
express or implied representation of Buyer or any of its other directors, officers, agents or
affiliates as to the sale of the Shares at the price specified herein.

[Signature Page Follows.]

 

 

IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the date first set forth
above.

	 	 	 	 	 	 	 	 	 
	Seller	 	 	 	Buyer
	 
	 	 	 	 	 	 	 	 
	[                             ]	 	 	 	I-Flow Corporation
	 
	 	 	 	 	 	 	 	 
	By:

	 	 
	 	 	 	By:
	 	 
	 

	 	 
	 	 	 	 	 	 
	 

	 	Name:
	 	 	 	 	 	Name:
	 

	 	Title:
	 	 	 	 	 	Title:EX-10.2.(A) AMENDMENT TO EMPLOYMENT AGREEMENT

 

EXHIBIT 10.2(a)

     AMENDMENT dated as of October 3, 2007, between AMERICAN COLOR GRAPHICS, INC., a New York
corporation (the “Company”), and STEPHEN M. DYOTT (the “Executive”).

     WHEREAS, the Executive entered an employment agreement with the Company dated as of April 19,
2007 (the “Employment Agreement”); and the Company desires to amend the Employment
Agreement to provide additional incentives for the Executive to remain in the employ of the Company
on the terms and conditions set forth herein, and the Executive desires to continue such employment
on the terms and conditions set forth herein;

     NOW, THEREFORE, in consideration of the covenants and agreements hereinafter set forth and for
other good and valuable consideration, the parties hereto agree to amend the Employment Agreement
as follows:

     1. In the second sentence of Section 5.1.1, the phrase “within 10 business days of” is
amended in its entirety to read “on”.

     IN WITNESS WHEREOF, the Company has caused this Amendment to be duly executed and the
Executive has hereunto set his hand, as of the day and year first above written.

	 	 	 	 	 
	 	AMERICAN COLOR GRAPHICS, INC.

 	 
	 	By:  	/s/ Patrick W. Kellick
 	 
	 	 	Name:  	Patrick W. Kellick 	 
	 	 	Title:  	Secretary 	 

	 	 	 	 	 
	 	EXECUTIVE

 	 
	 	/s/ Stephen M. Dyott
 	 
	 	Name:  	Stephen M. Dyott 	 
	 	 	 

4EX-10.4.(B) AMENDMENT TO EMPLOYMENT AGREEMENT

 

	 	 	 	 	 

EXHIBIT 10.4(b)

     AMENDMENT dated as of October 3, 2007, between AMERICAN COLOR GRAPHICS, INC., a New York
corporation (the “Company”), and PATRICK W. KELLICK (the “Executive”).

     WHEREAS, the Executive entered an employment agreement with the Company dated as of April 19,
2007, as amended (the “Employment Agreement”); and the Company desires to amend the
Employment Agreement to provide additional incentives for the Executive to remain in the employ of
the Company on the terms and conditions set forth herein, and the Executive desires to continue
such employment on the terms and conditions set forth herein;

     NOW, THEREFORE, in consideration of the covenants and agreements hereinafter set forth and for
other good and valuable consideration, the parties hereto agree to amend the Employment Agreement
as follows:

     1.
In the second sentence of Section 5.1.1, the phrase “within
10 business days after” is
amended in its entirety, in both instances, to read “on”.

     IN WITNESS WHEREOF, the Company has caused this Amendment to be duly executed and the
Executive has hereunto set his hand, as of the day and year first above written.

	 	 	 	 	 
	 	AMERICAN COLOR GRAPHICS, INC.

 	 
	 	By:  	/s/ Stephen M. Dyott
 	 
	 	 	Name:  	Stephen M. Dyott 	 
	 	 	Title:  	Chairman and CEO 	 

	 	 	 	 	 
	 	EXECUTIVE

 	 
	 	/s/ Patrick W. Kellick
 	 
	 	Name:  	Patrick W. Kellick 	 
	 	 	 

5EX-10.6.(B) AMENDMENT TO EMPLOYMENT AGREEMENT

 

	 	 	 	 	 

EXHIBIT 10.6(b)

     AMENDMENT dated as of October 3, 2007, between AMERICAN COLOR GRAPHICS, INC., a New York
corporation (the “Company”), and KATHLEEN A. DEKAM (the “Executive”).

     WHEREAS, the Executive entered an employment agreement with the Company dated as of April 19,
2007, as amended (the “Employment Agreement”); and the Company desires to amend the
Employment Agreement to provide additional incentives for the Executive to remain in the employ of
the Company on the terms and conditions set forth herein, and the Executive desires to continue
such employment on the terms and conditions set forth herein;

     NOW, THEREFORE, in consideration of the covenants and agreements hereinafter set forth and for
other good and valuable consideration, the parties hereto agree to amend the Employment Agreement
as follows:

     1. In the second sentence of Section 5.1.1, the phrase “within 10 business days after”
is amended in its entirety, in both instances, to read “on”.

     IN WITNESS WHEREOF, the Company has caused this Amendment to be duly executed and the
Executive has hereunto set her hand, as of the day and year first above written.

	 	 	 	 	 
	 	AMERICAN COLOR GRAPHICS, INC.

 	 
	 	By:  	/s/ Stephen M. Dyott
 	 
	 	 	Name:  	Stephen M. Dyott 	 
	 	 	Title:  	Chairman and CEO 	 
	 
	 	EXECUTIVE

 	 
	 	/s/ Kathleen A. DeKam
 	 
	 	Name:  Kathleen A. DeKam 	 
	 	 	 

6EX-10.11.(A) AMENDMENT

 

	 	 	 	 	 

EXHIBIT 10.11(a)

     AMENDMENT dated as of October 3, 2007, to the Amended and Restated American Color Graphics,
Inc. Supplemental Executive Retirement Plan (the “Plan”), as amended and restated effective as of
July 1, 2005.

     WHEREAS, American Color Graphics, Inc. (the “Company”) sponsors the Plan and Section
4.5 of the Plan grants the Company the right to amend the Plan.

     NOW, THEREFORE, Section 2.3(i) of the Plan is amended by deleting the phrase “the six month
anniversary of the Participant’s termination of employment with the Company or its subsidiaries”
and replacing such phrase with the following: “the Participant’s termination of employment with the
Company or its subsidiaries, except that no payment shall be made earlier than January 1, 2008”.

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

	 	 	 	 	 
	 	AMERICAN COLOR GRAPHICS, INC.

 	 
	 	By:  	/s/ Stephen M. Dyott
 	 
	 	 	Name:  	Stephen M. Dyott 	 
	 	 	Title:  	Chairman & CEO 	 
	 

7

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