Document:

First Supplemental Indenture

 Exhibit 4.01 
 FIRST SUPPLEMENTAL INDENTURE 
 FIRST SUPPLEMENTAL INDENTURE (this “Supplemental
Indenture”), dated as of October 5, 2006, by and among Alberto-Culver Company, a Delaware corporation (“Alberto-Culver”) and The Bank of New York Trust Company, N.A., as successor in interest to J.P. Morgan Trust Company, N.A.,
successor in interest to Bank One, N.A., formerly The First National Bank of Chicago, as trustee (the “Trustee”) under the Indenture, dated as of June 10, 1998, between Alberto-Culver and the Trustee (the “Indenture”).

 W I T N E S S E T H 
 WHEREAS, Alberto-Culver has executed and delivered the Indenture, under which there were issued $120,000,000 of aggregate principal amount of Alberto-Culver’s 6.375% Debentures due June 15, 2028 (the “Alberto-Culver
Debentures”) in accordance with the terms of the Indenture; 
 WHEREAS, Alberto-Culver entered into the Investment Agreement, dated as
of June 19, 2006 (as amended from time to time, the “Investment Agreement”), among (i) Alberto-Culver, (ii) New Aristotle Company, a Delaware corporation and, as of the date hereof, a wholly-owned subsidiary of New Sally
(“Merger Sub”), (iii) Sally Holdings, Inc., a Delaware corporation and, as of the date hereof, a wholly-owned subsidiary of Alberto-Culver, (iv) New Sally Holdings, Inc., a Delaware corporation and, as of the date hereof, a
wholly-owned subsidiary of Alberto-Culver (“New Sally”) and (v) CDRS Acquisition LLC, a Delaware limited liability company (the “Investor”), which Investment Agreement was filed by Alberto-Culver with the Securities and
Exchange Commission as Exhibit 2.02 to its Form 8-K, dated June 22, 2006 (the “Form 8-K”); 
 WHEREAS, pursuant to the
Investment Agreement, Alberto-Culver agreed, among other things and subject to the terms and conditions of the Investment Agreement, to consummate the following transactions: (a) the merger (the “Alberto-Culver Merger”) of Merger Sub
with and into Alberto-Culver, whereby each share of common stock, $0.22 par value per share, of Alberto-Culver, will be converted into one share of common stock, par value $0.01 per share, of New Sally (the “New Sally Common Stock”),
whereupon Alberto-Culver will be the surviving corporation and Alberto-Culver will become a wholly-owned subsidiary of New Sally; (b) immediately after the effective time of the Alberto-Culver Merger, the conversion of Alberto-Culver into a
limited liability company organized under the laws of the State of Delaware (“New Alberto-Culver LLC”), whereby the outstanding shares of Alberto-Culver will be converted into membership interests in New Alberto-Culver LLC; (c) the
distribution by New Alberto-Culver LLC of all of the outstanding shares of common stock, no par value, of Sally Holdings, Inc., to New Sally (the “Sally Distribution”); (d) the contribution by New Sally of all of the membership
interests of New Alberto-Culver LLC to New Aristotle Holdings, Inc., a Delaware corporation and wholly-owned subsidiary of New Sally (“New Alberto-Culver”); (e) the issuance and sale to Investor of shares of New Sally Class A
common stock, $0.01 par value per share; (f) the distribution (the “Share Distribution”) of all of the issued and outstanding shares of common stock of New Alberto-Culver on a pro rata basis to the holders of record of New Sally
Common Stock upon the terms and subject to the conditions set forth in the Separation Agreement, dated as of June 19, 2006, between Alberto-Culver, New Sally, Sally and New Alberto-Culver and filed as Exhibit 2.01 to its Form 8-K (the
“Separation Agreement”); and (g) prior to the Share Distribution, the payment by New Sally of a special cash dividend to holders of record of New Sally Common Stock upon the terms and subject to the conditions set forth in the
Separation Agreement in the amount of $25.00 per share of New Sally Common Stock (the transactions described in the foregoing clauses (a) through (g), the “Transactions”); 
 WHEREAS, Alberto-Culver has distributed a Consent Solicitation Statement, dated as of September 28, 2006 (the “Consent Solicitation
Statement”) and accompanying Letter of Consent (the “Letter of Consent”), to the Holders of the Alberto-Culver Debentures; 
 WHEREAS, in accordance with Section IX.2 of the Indenture, Alberto-Culver and the Trustee may amend the Indenture by entering into a supplemental indenture with the written consent of the holders of at least a majority in principal amount
of the Alberto-Culver Debentures of each Series affected by such supplemental indenture; and 
 WHEREAS, pursuant to the Consent Solicitation
Statement, the Holders of at least a majority in aggregate principal amount of the Alberto-Culver Debentures outstanding (excluding for this purpose any Alberto-Culver 

 Debentures held by Alberto-Culver or any affiliate of Alberto-Culver) have consented to the amendments effected by this
Supplemental Indenture in accordance with the provisions of the Indenture, and evidence of such consents has been provided by Alberto-Culver to the Trustee, and all other conditions precedent, if any, provided for in the Indenture relating to the
execution of this Supplemental Indenture have been complied with as of the date hereof. 
 NOW THEREFORE, in consideration of the foregoing
and the mutual premises and covenants contained herein and for other good and valuable consideration, the parties hereto agree as follows: 
 SECTION 1.01. DEFINITIONS. Capitalized terms used but not defined in this Supplemental Indenture shall have the specified meanings therefor set forth in the Indenture. 
 SECTION 1.02. EFFECTIVENESS OF SUPPLEMENTAL INDENTURE. This Supplemental Indenture shall become operative immediately prior to the closing of the
Transactions (the “Operative Time”), promptly following which Alberto-Culver will notify the Trustee that such Operative Time has occurred. 
 SECTION 1.03. CONSENT AND WAIVER. As acknowledged and agreed by the Holders of a majority of the outstanding Alberto-Culver Debentures, by such Holders’ execution and delivery of Consents, such Holders
have consented to the Transactions and waive compliance by Alberto-Culver with Section VIII.1 of the Indenture in connection therewith. 
 SECTION 1.04. ACKNOWLEDGMENT. As acknowledged and agreed by the Holders of a majority of the outstanding Alberto-Culver Debentures, by such Holders’ execution and delivery of Consents, following the consummation of the
Transactions, neither New Sally nor any of its subsidiaries shall have any obligation or liability with respect to the Alberto-Culver Debentures and that none of them shall be subject to any covenant or any other term of the Indenture. 

SECTION 1.05. RATIFICATION OF INDENTURE; SUPPLEMENTAL INDENTURE PART OF INDENTURE. Except as expressly set forth herein, the Indenture is in
all respects ratified and confirmed and all the terms, conditions and provisions thereof shall remain in full force and effect. This Supplemental Indenture shall form a part of the Indenture for all purposes, and every Holder shall be bound hereby.

 SECTION 1.06. CONCERNING THE TRUSTEE. The Trustee shall not be responsible in any manner whatsoever for or in respect of the
validity or sufficiency of this Supplemental Indenture or for or in respect of the recitals contained herein, all of which recitals are made solely by Alberto-Culver. The Trustee enters into this Supplemental Indenture in reliance on delivery of an
Officers’ Certificate and Opinion of Counsel, as contemplated by Section IX.3 of the Indenture, and subject to Section VI.1 of the Indenture makes no independent determination that this Supplemental Indenture is authorized or permitted by the
Indenture. The Trustee accepts the trusts created by the Indenture, as amended and supplemented by this Supplemental Indenture, and agrees to perform the same upon the terms and conditions of the Indenture, as amended and supplemented by this
Supplemental Indenture. All of the provisions contained in the Indenture in respect of the rights, privileges, immunities, powers, and duties of the Trustee shall be applicable in respect of the Supplemental Indenture as fully and with like force
and effect as though fully set forth in full herein. Alberto-Culver agrees to pay all amounts due to the Trustee under Section VI.7 of the Indenture arising under or in connection with this Supplemental Indenture. 
 SECTION 1.07. GOVERNING LAW. This Supplemental Indenture shall be governed by and construed in accordance with the laws of the State of New York
without giving effect to the conflict of laws provisions thereof. 
 SECTION 1.08. EFFECT OF HEADINGS. The Article and Section
headings herein are for convenience only and shall not affect the construction thereof. 
 SECTION 1.09. COUNTERPARTS. This instrument
may be executed in any number of counterparts, each of which so executed shall be deemed to be an original, but all such counterparts shall together constitute but one and the same instrument. 
 [Signatures on following page] 
  

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 IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly executed, all
as of the date first written above. 
  

			
	ALBERTO-CULVER COMPANY
		
	By:	 	 /s/ Gary P. Schmidt

	Name:	 	 Gary P. Schmidt

	Title:	 	Senior Vice President, General Counsel and Secretary
	
	THE BANK OF NEW YORK TRUST COMPANY, N.A.
		
	By:	 	 /s/ Janice Ott Rotunno

	Name:	 	Janice Ott Rotunno
	Title:	 	Vice PresidentFirst Amendment to the Tax Allocation Agreement

 Exhibit 10.01 
 FIRST AMENDMENT 
 TO THE 
 TAX ALLOCATION AGREEMENT 
 WHEREAS, New Sally Holdings, Inc., a Delaware
corporation (“New Sally”), Sally Holdings, Inc., a Delaware corporation (“Sally”) (New Sally and Sally, collectively the “Sally Parties”), Alberto-Culver Company, a Delaware corporation
(“Alberto-Culver”), and New Aristotle Holdings, Inc., a Delaware corporation (“New Alberto-Culver”) (Alberto-Culver and New Alberto-Culver, collectively the “Alberto-Culver Parties”), entered into a
Tax Allocation Agreement (the “Agreement”), dated as of June 19, 2006; 
 WHEREAS, the Sally Parties and the
Alberto-Culver Parties desire to amend certain provisions defining terms used in the Agreement; and 
 WHEREAS, Section 8.07 of the
Agreement provides that the Agreement cannot be amended except by a written agreement executed by the Sally Parties and the Alberto-Culver Parties; provided, that, unless the Investment Agreement (as such term is defined in the Agreement)
shall have been terminated, any such amendment shall be subject to the prior written consent of CDRS Acquisition LLC (“Investor”), which consent shall not be unreasonably withheld, conditioned or delayed; 
 NOW, THEREFORE, the Agreement is hereby amended in the following respects: 
 1. Section 1.01(a) of the Agreement is hereby amended to include the following definition in the appropriate alphabetical order: 
 “Subsidiary LLC Conversions” has the meaning set forth in the Investment Agreement. 
 2. Section 2.04(d) of the Agreement is hereby amended in its entirety to read as follows: 
 (d) Notwithstanding any other provision of this Agreement (including Section 2.04(c)), the Sally Parties shall be liable for
(i) all Taxes arising from or attributable to any deferred intercompany transactions relating to sales of inventory from a member of the Alberto Group to a member of the Sally Group (but only in an amount of Taxable income or gain not to
exceed $5 million) or any Tax resulting from the Subsidiary LLC Conversions; (ii) any Tax incurred in distributing the Debt Financing proceeds from the borrower(s) thereof to New Sally; and (iii) any Tax arising from a
failure to remit Taxes with respect to payments to be made to non-residents of the United States, or employees, in connection with the transactions contemplated by the Separation Agreement, except to the extent such failure is attributable to a
failure by Alberto-Culver to institute proper procedures to enable New Sally to properly withhold under Section 2.04(c) above or provide New Sally with an accurate estimate of earnings and profits pursuant to Section 6.10(d) of the
Investment Agreement. 

 3. Section 1.02 is hereby amended solely to replace all references to “Substitute Sally
Options” that appear in the definition of Sally Tainting Act with references to “New Sally Substitute Options.” 
 4. This
Amendment will be governed by and construed in accordance with the laws of the State of Delaware (without giving effect to choice of law principles thereof). 
 5. Except as specifically provided in this Amendment, all other provisions of the Agreement shall be in full force and effect. 
 6. This Amendment may be executed in separate counterparts, each such counterpart being deemed to be an original instrument, and all such counterparts will together constitute the same agreement. 
 [Signature Page Follows] 
  

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 IN WITNESS WHEREOF, the parties have caused this agreement to be executed in their names by a duly
authorized officer as of October 3, 2006. 
  

			
	NEW SALLY HOLDINGS, INC.
		
	By:	 	/s/ Gary P. Schmidt
		 	Name: Gary P. Schmidt
		 	Title: President
	
	SALLY HOLDINGS, INC.
		
	By:	 	/s/ Gary Winterhalter
		 	Name: Gary Winterhalter
		 	Title: President
	
	ALBERTO-CULVER COMPANY
		
	By:	 	/s/ Gary P. Schmidt
		 	Name: Gary P. Schmidt
		 	Title: Senior Vice President, General Counsel and Secretary
	
	NEW ARISTOTLE HOLDINGS, INC.
		
	By:	 	/s/ Gary P. Schmidt
		 	Name: Gary P. Schmidt
		 	Title: President

 By its signature below, the undersigned hereby consents to this amendment:

  

			
	
	 CDRS ACQUISITION LLC

		
	 BY:
	 	/s/ Richard J. Schnall
		 	 
		 	Name: Richard J. Schnall
		 	Title: President

 [Signature Page to First Amendment to the Tax Allocation Agreement] 
  

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