Document:

Prepared by R.R. Donnelley Financial -- FORM OF AMENDMENT TO WARRANTHOLDERS' AGREEMENT

  
 Exhibit 4.9 
  
  
 AMENDMENT 
  
 AMENDMENT (the “Amendment”) dated as of [            ], 2002, between U.S.I. HOLDINGS CORPORATION (the “Company”), a Delaware corporation,
and The Northwestern Mutual Life Insurance Company, a Wisconsin corporation (the “Warrantholder”). 
  
 A.    The Warrantholder holds warrants (the “Warrants”) exercisable for 1,559,196 shares of Common Stock, $.01 par value, of the Company (the “Common Stock”). The Warrantholder,
the Company and the other signatories thereto are parties to (i) a Warrant Agreement, dated as of March 12, 1996 (as amended by the Amendment dated as of September 17, 1999, the “Warrant Agreement”) and (ii) a Warrantholders’
Agreement, dated as of March 12, 1996 (as amended by Amendment No. 1 dated as of July 9, 1998, the Amendment dated as of September 17, 1999 and the Amendment dated as of April 26, 2002, the “Warrantholders’ Agreement”).

  
 B.    Pursuant to Section 11.2 of the Warrantholders’ Agreement, each of the Company and
the Warrantholder, which is a holder of more than 65% of the Registrable Securities (as defined in the Warrantholders’ Agreement) and, therefore, constitutes Required Holders (as defined in the Warrant Agreement), wishes to amend the
Warrantholders’ Agreement as set forth in this Amendment. 
  
 NOW, THEREFORE, in consideration of the premises
and the mutual agreements set forth herein, the parties to this Amendment hereby agree as follows: 
  
 Section 1.
Amendment to Warrantholders’ Agreement. The definition of “Public Offering” in Section 10 of the Warrantholders’ Agreement is amended in its entirety to read as follows: 
  
 “Public Offering— means the consummation by the Company of an initial sale of its Common Stock in an underwritten public
offering pursuant to a registration statement under the Securities Act of 1933, as amended.” 
  
 Section 2.
Full Force and Effect. The provisions of Section 1, above, shall be effective concurrent with, and only upon, the closing of the initial public offering of the Company’s Common Stock and shall remain in effect from and after the date
such closing occurs. Except as expressly set forth above, the terms and conditions of the Warrant Agreement shall remain in full force and effect and are hereby ratified and confirmed. 
  
 Section 3. GOVERNING LAW. THIS AMENDMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 

 

 -2- 

 
  
 Section 4. Counterparts. This Amendment may be signed in any
number of counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument. 
  
  

[Signature page follows] 

 

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 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
duly executed by their respective authorized officers as of the day and year first above written. 
  
  
  
  
 
	 U.S.I. HOLDINGS CORPORATION
 
	  	 	  
	 By:
 	 	  
	  	 	 

	  	 	 Name:
 
	  	 	 Title:
 
	  	 	  
	  	 	  
	  	 	  
	 THE NORTHWESTERN MUTUAL
 
	 LIFE INSURANCE COMPANY
 
	  	 	  
	 By:
 	 	  
	  	 	 

	  	 	 Name:  Ernest J. Newborn, II
 
	  	 	 Title:    Attorney-in-FactPrepared by R.R. Donnelley Financial -- FORM OF AMENDMENT TO WARRANTHOLDERS' AGREEMENT

  
 Exhibit 4.10 
  
  
 AMENDMENT 
  
  
 AMENDMENT (the “Amendment”) dated as of [            ], 2002, between U.S.I. HOLDINGS CORPORATION (the
“Company”), a Delaware corporation, and The Northwestern Mutual Life Insurance Company, a Wisconsin corporation (the “Warrantholder”). 
  
 A.    The Warrantholder holds warrants (the “Warrants”) exercisable for 1,559,196 shares of Common Stock, $.01 par value, of the
Company (the “Common Stock”). The Warrantholder, the Company and the other signatories thereto are parties to (i) a Warrant Agreement, dated as of March 12, 1996 (as amended by the Amendment dated as of September 17, 1999, the
“Warrant Agreement”) and (ii) a Warrantholders’ Agreement, dated as of March 12, 1996 (as amended by Amendment No. 1 dated as of July 9, 1998, the Amendment dated as of September 17, 1999, the Amendment dated as of April 26,
2002 and the Amendment dated as of [the Public Offering definition Amendment], the “Warrantholders’ Agreement”). 
  
 B.    Pursuant to Section 11.2 of the Warrantholders’ Agreement, each of the Company and the Warrantholder, which is a holder of more than 65% of the Registrable Securities (as defined in the
Warrantholders’ Agreement) and, therefore, constitutes Required Holders (as defined in the Warrant Agreement), wishes to amend the Warrantholder’s Agreement as set forth in this Amendment. 
  
 NOW, THEREFORE, in consideration of the premises and the mutual agreements set forth herein, the parties to this Amendment hereby agree as
follows: 
  
 Section 1. Amendment to Warrantholders’ Agreement. The definition of “Permitted
Management Issuances” in Section 10 of the Warrantholders’ Agreement is amended in its entirety to read as follows: 
  
 “Permitted Management Issuances — means the issuance by the Company after the Closing Date of Common Stock and/or Rights to directors, officers, employees, advisors or consultants to the Company or one of its subsidiaries
pursuant to an incentive compensation, bonus or stock purchase or other similar plan approved in good faith by the Board of Directors of the Company.” 
  
 Section 2. Full Force and Effect. The provisions of Section 1, above, shall be effective concurrent with, and only upon, the closing of the initial public offering of the Company’s Common
Stock and shall remain in effect from and after the date such closing occurs. Except as expressly set forth above, the terms and conditions of the Warrant Agreement shall remain in full force and effect and are hereby ratified and confirmed.

 

 -2- 

 
  
 Section 3. GOVERNING LAW. THIS AMENDMENT SHALL BE GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 
  
 Section 4. Counterparts. This Amendment
may be signed in any number of counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument. 
  
  
 [Signature page follows] 

 

 -3- 

 
  
 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
duly executed by their respective authorized officers as of the day and year first above written. 
  
  
 
	 U.S.I. HOLDINGS CORPORATION
 
	  	 	  
	 By:
 	 	  
	  	 	 

	  	 	 Name:
 
	  	 	 Title:
 
	  	 	  
	  	 	  
	  	 	  
	 THE NORTHWESTERN MUTUAL
 
	 LIFE INSURANCE COMPANY
 
	  	 	  
	 By:
 	 	  
	  	 	 

	  	 	 Name:
 
	  	 	 Title:Prepared by R.R. Donnelley Financial -- FORM OF AMENDMENT TO SERIES W WARRANT AGREEMENT

  
 Exhibit 4.11 
  
  
 AMENDMENT 
  
 AMENDMENT (the “Amendment”) dated as of [            ], 2002, between U.S.I. HOLDINGS CORPORATION (the “Company”), a Delaware corporation,
and each of the parties set forth on the signature page hereto (collectively the “Warrantholders”). 
  
 A.    The Warrantholders hold 6,250,002 Series W Warrants (the “Warrants”) exercisable for 6,250,002 shares of Series W Convertible Preferred Stock, $.01 par value, of the Company (the
“Common Stock”). The Warrantholders and the Company are parties to a Series W Warrant Agreement, dated as of September 17, 1999 (the “Warrant Agreement”). 
  
 B.    Pursuant to Section 7.1 of the Warrant Agreement, each of the Company and the Warrantholders, which hold in the aggregate more than 50% of all
Warrants outstanding and, therefore, constitute Required Series W Warrantholders (as defined in the Warrant Agreement), wish to amend the Warrant Agreement as set forth in this Amendment. 
  
 NOW, THEREFORE, in consideration of the premises and the mutual agreements set forth herein, the parties to this Amendment hereby agree as follows: 
  
 Section 1. Amendment to Series W Warrant Agreement. Subject to Section 2, the definition of “Public Offering” in Section
5.1 of the Warrant Agreement is amended in its entirety to read as follows: 
  
 “Public Offering means the
consummation by the Company of an initial sale of its Common Stock in an underwritten public offering pursuant to a registration statement under the Securities Act of 1933, as amended.” 
  
 Section 2. Effectiveness. The provisions of Section 1, above, shall be effective concurrent with, and only upon, the closing of the initial public offering of the
Company’s Common Stock, $.01 par value, and shall remain in effect from and after the date such closing occurs. Except as expressly set forth above, the terms and conditions of the Warrant Agreement shall remain in full force and effect and are
hereby ratified and confirmed. 
  
 Section 3. GOVERNING LAW. THIS AMENDMENT SHALL BE GOVERNED BY AND CONSTRUED
IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 
  
 Section 4. Counterparts. This Amendment may be
signed in any number of counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument. 

 

 -2- 

 
  
 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
duly executed by their respective authorized officers as of the day and year first above written. 
  
  
 
	 U.S.I. HOLDINGS CORPORATION
 
	  	 	  
	 By:
 	 	  
	  	 	 

	  	 	 Name:
 
	  	 	 Title:
 
	  	 	  
	  	 	  
	  	 	  
	 Norwest Equity Capital, LLC
 WLD Equity Partners 1999, Limited Partnership
 Provident Life and Accident Insurance
Company
 Conning Insurance Capital International Partners III, L.P.
 Conning Insurance Capital Limited Partnership III, L.P.
 The Travelers Insurance
Company
 Capital Z Financial Services Fund II, L.P.
 Capital Z Financial Services Private Fund II, L.P.
 CB Capital Investors LLC
 
	  	 	  
	 By:
 	 	  
	  	 	 

	  	 	 Name:  Ernest J. Newborn, II
 
	  	 	 Title:    Attorney-in-Fact

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