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Exhibit 4.45    
    

 
 

DECLARATION OF TRUST
  OF
  LEHMAN BROTHERS HOLDINGS CAPITAL TRUST XII    
    

        DECLARATION OF TRUST, dated as of February 14, 2005, between Lehman Brothers Holdings Inc., a Delaware corporation, as Sponsor, Chase Manhattan Bank
USA, National Association, a national banking association organized under the laws of the United States of America, as the Delaware Trustee, JPMorgan Chase Bank, N.A, a national banking association
organized under the laws of the United States of America, as the initial Property Trustee, and Jeffrey A. Welikson, Barrett S. DiPaolo and James J. Killerlane, as Regular Trustees (collectively with
the Delaware Trustee and the Property Trustee, the "Trustees"). The Sponsor and the Trustees hereby agree as follows: 

        1.     The
trust created hereby (the "Trust") shall be known as "Lehman Brothers Holdings Capital Trust XII," in which name the Trustees, or the Sponsor to the extent provided
herein, may conduct the business of the Trust, make and execute contracts and sue and be sued. 

        2.     The
Sponsor hereby assigns, transfers, conveys and sets over to the Trustees the sum of Ten Dollars ($10.00). The Trustees hereby acknowledge receipt of such amount in
trust from the Sponsor, which amount shall constitute the initial trust estate. The Trustees hereby declare that they will hold the trust estate in trust for the Sponsor. It is the intention of the
parties hereto that the Trust created hereby constitute a statutory trust under Chapter 38 of Title 12 of the Delaware Code, 12 Del C. Section 3801 et seq. (the "Statutory Trust Act"), and that
this document constitute the governing instrument of the Trust. The Trustees are hereby authorized and directed to execute and file a certificate of trust with the Delaware Secretary of State
in the form attached hereto. 

        3.     The
Sponsor and the Trustees will enter into an amended and restated Declaration of Trust, satisfactory to each such party (and substantially in the form included as an
exhibit to the 1933 Act Registration Statement (as defined below)), to provide for the contemplated operation of the Trust created hereby and the issuance of preferred securities (the "Preferred
Securities") and common securities by the Trust as such securities will be described therein. Prior to the execution and delivery of such amended and restated Declaration of Trust, the Trustees shall
not have any duty or obligation hereunder or with respect to the trust estate, except as otherwise required by applicable law or as may be necessary to obtain prior to such execution and delivery and
licenses, consents or approvals required by applicable law or otherwise. 

        4.     The
Sponsor and the Trustees hereby authorize and direct the Sponsor, in each case on behalf of the Trust as sponsor of the Trust, (i) to prepare for filing with
the Securities and Exchange Commission (the "Commission") (a) a Registration Statement on Form S-3 (the "1933 Act Registration Statement"), including any
pre-effective or post-effective amendments to the 1933 Act Registration Statement, relating to the registration under the Securities Act of 1933, as amended, of the Preferred
Securities of the Trust and possibly certain other securities and (b) a Registration Statement on Form 8-A (the "1934 Act Registration Statement") (including all
pre-effective and post-effective amendments thereto) relating to the registration of the Preferred Securities of the Trust under the Securities Exchange Act of 1934, as
amended; (ii) to file with the New York Stock Exchange or any other national stock exchange or The Nasdaq National Market (each, an "Exchange") and execute on behalf of the Trust one or more
listing applications and all other applications, statements, certificates, agreements and other instruments as shall be necessary or desirable to cause the Preferred Securities to be listed on any of
the Exchanges; (iii) to negotiate and execute an underwriting agreement among the Trust, the Sponsor and the underwriter(s) thereto relating to the offer and sale of the Preferred Securities,
substantially in the form included or to be incorporated as an exhibit to the 1933 Act Registration Statement and (iv) to execute and file such applications, reports, surety bonds, irrevocable
consents, appointments of attorneys for service of process and other papers and documents as shall be necessary or desirable to register the Preferred Securities under the securities or "blue sky"
laws of such jurisdictions as the Sponsor, on behalf of the Trust, may deem necessary or desirable. 

 

        It
is hereby acknowledged and agreed that in connection with any document referred to in clauses (i), (ii) and (iv) above, (A) any Regular Trustee (or his
attorneys-in-fact and agents or the Sponsor as permitted herein) is authorized to execute such document on behalf of the Trust, provided that the 1933 Act Registration
Statement and the 1934 Act Registration Statement shall be signed by all of the Regular Trustees, and (B) JPMorgan Chase Bank, N.A., and Chase Manhattan Bank USA, National Association, in their
capacities as Trustees of the Trust, shall not be required to join in any such filing or execute on behalf of the Trust any such document unless required by the rules and regulations of the
Commission, the Exchanges or state securities or blue sky laws, and in such case only to the extent so required. In connection with all of the foregoing, each Regular Trustee, solely in
such Regular Trustee's capacity as Trustee of the Trust, hereby constitutes and appoints Thomas A. Russo, Karen B. Corrigan and Oliver Budde, and each of them, as such Regular Trustee's true and
lawful attorneys-in-fact and agents, with full power of substitution and resubstitution, for such Regular Trustee, in such Regular Trustee's name, place and stead, in any and
all capacities, to sign any and all amendments (including post-effective amendments) to the 1933 Act Registration Statement and the 1934 Act Registration Statement and to file the same,
with all exhibits thereto, and other documents in connection therewith, with the Commission, the Exchanges and administrators of state securities or blue sky laws, granting unto said
attorneys-in-fact and agents full power and authority to do and perform each and every act and thing requisite and necessary to be done in connection therewith, as fully to all
intents and purposes as such Regular Trustee might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents or any of them, or their
respective substitute or substitutes, shall do or cause to be done by virtue hereof. 

        5.     This
Declaration of Trust may be executed in one or more counterparts. 

        6.     The
number of Trustees initially shall be five (5) and thereafter the number of Trustees shall be such number as shall be fixed from time to time by a written
instrument signed by the Sponsor which may increase or decrease the number of Trustees; provided that, to the extent required by the Statutory Trust Act, one Trustee shall be an entity that has its
principal place of business in the State of Delaware. Subject to the foregoing, the Sponsor is entitled to appoint or remove without cause any Trustee at any time. The Trustees may resign upon thirty
days prior notice to the Sponsor. 

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2

 

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

	

LEHMAN BROTHERS HOLDINGS INC.,

as Sponsor	
 	

 
	

By:	

/s/  BARRETT S. DIPAOLO      
 Name: Barrett S. DiPaolo

Title: Vice President	
 	

 	
 	

 
	

CHASE MANHATTAN BANK USA, NATIONAL ASSOCIATION,

as Delaware Trustee	
 	

 
	

By:	

/s/  SARIKA M. SHETH      
 Name: Sarika M. Sheth

Title: Trust Officer	
 	

 	
 	

 
	

JPMORGAN CHASE BANK, N.A.,

as Property Trustee	
 	

 
	

By:	

/s/  TAI BILL LEE      
 Name: Tai Bill Lee

Title: Vice President	
 	

 	
 	

 
	

By:	

/s/  JEFFREY A. WELIKSON      
 Jeffrey A. Welikson, as Regular Trustee	
 	

 	
 	

 
	

By:	

/s/  BARRETT S. DIPAOLO      
 Barrett S. DiPaolo, as Regular Trustee	
 	

 	
 	

 
	

By:	

/s/  JAMES J. KILLERLANE      
 James J. Killerlane, as Regular Trustee	
 	

 	
 	

 

3

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Exhibit 4.45

DECLARATION OF TRUST OF LEHMAN BROTHERS HOLDINGS CAPITAL TRUST XIIQuickLinks
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Exhibit 10.98    
    

 
 

MEMORANDUM OF LEASE    
    

        This Memorandum of Lease dated the 11th day of September, 2000,
entered into between the City of LaGrange, Missouri, a Special Charter City, and Municipal Corporation ("Landlord"), and Mark Twain Casino, L.L.C., a Missouri Limited Liability Company ("Tenant"),
whose mailing address is P. O. Box 385, St. Joseph, Missouri 64502. 

 WITNESSETH:  

        1.     That
by Lease dated December 29, 1999, (the "Lease") Landlord has demised and leased to Tenant and Tenant has rented from Landlord those certain premises (the
"premises") located in the City of LaGrange, County of Lewis, and State of Missouri, more specifically described on Exhibit A attached hereto and
incorporated herein by this reference, and the land thereunder and the rights, easements and privileges granted to Tenant in the Lease. 

        2.     That
the term of the Real Estate Lease begins on December 13, 1999, and continues for the shorter period of May 12, 2001, or until the Tenant commences
gaming operations within the City of LaGrange, Missouri. Thereafter, if Tenant shall have commenced a gaming operation within the City of LaGrange, Missouri, prior to May 12, 2001, Tenant shall
have the first option to renew the Lease for an additional period of 10 years and for four additional successive periods of five years each. 

        3.     The
Real Estate Lease, and any and all extensions and amendments thereto, contain other terms which grant to Tenant certain rights and impose upon Landlord certain
obligations, restrictions and responsibilities. 

        4.     In
addition to those terms referred to hereinabove, the Lease, and any and all amendments and extensions thereof, contain numerous other terms, covenants and conditions
which likewise affect the Premises and notice is hereby given to the details of such terms, covenants and conditions. 

        5.     This
instrument does not alter, amend, modify or change the Real Estate Lease, and any and all amendments or extensions thereto, or the exhibits thereto in any respect.
It is executed for the purpose of recordation in the records of Lewis County, Missouri, and it is the intent of the parties hereto that it shall be so recorded and shall give notice of and confirm the
Lease and any and all amendments or extensions thereto. 

 

        IN WITNESS WHEROF, Landlord and Tenant have caused this Memorandum of Lease to be duly executed as of the date first above written. 

	 	 	 	 	CITY OF LaGRANGE, MISSOURI
	 	 	 	 	/s/  HAROLD L. LUDWIG      

	 	 	 	 	Harold L Ludwig, Mayor of City of LaGrange, Missouri
	

[Seal]	
 	

 	
 	

 	
 	

 
	Attest:	 	/s/  PATTY SPINDLER      
 Patty Spindler, City Clerk	 	 	 	 
	

 	
 	

 	
 	

MARK TWAIN CASINO, L.L.C.
	 	 	 	 	By:	 	/s/  WILLIAM M. GRACE      

	 	 	 	 	William M. Grace, President of

CARDINAL GAMING, L.L.C.

as authorized Manager of

MARK TWAIN CASINO, L.L.C.

	

STATE OF MISSOURI	
 	

)
	 	 	) ss.
	COUNTY OF LEWIS	 	)

        On
this 11th day of September, 2000, before me personally appeared Harold Ludwig, in his
capacity as Mayor of the City of LaGrange, to me known to be the person described in and who executed the foregoing instrument on behalf of the City of LaGrange, and acknowledged that he executed the
same with prior City Council approval, as the City's free act and deed. 

        IN
TESTIMONY WHEREOF, I have hereunto set my hand and affixed my official seal at my office in LaGrange, the county and state aforesaid, the day and year first above written. 

	 	 	 	 	/s/  PATRICIA A. SPINDLER      
 Notary Public
	My Commission Expires:

[Seal]	 	[Stamp]

2

 

	

STATE OF MISSOURI	
 	

)	
 	

 
	 	 	) ss.	 	 
	COUNTY OF BUCHANAN	 	)	 	 

        On
this 11th day of Sept., 2000, before me personally appeared William M. Grace to
me personally known, who being by me duly sworn, did say that he is the Member of Mark Twain Casino, L.L.C., and that said instrument was signed and sealed in behalf of said Mark Twain Casino, L.L.C.,
and said Member acknowledged said instrument to be the free act and deed of said Mark Twain Casino, L.L.C. 

        IN
TESTIMONY WHEREOF, I have hereunto set my hand and affixed my official seal at my office in St. Joseph, Missouri, the day and year first above written. 

	 	 	 	 	/s/  PAMELA J. MURPHY      
 Notary Public
	My Commission Expires:

[Seal]	 	[Stamp]
	

STATE OF MISSOURI	
 	

)	
 	

IN THE RECORDER'S OFFICE
	 	 	) ss.	 	 
	COUNTY OF LEWIS	 	)	 	 

        I,
William B. Smith, Clerk of the Circuit Court and Ex-Officio Recorder of said County, do hereby certify that the within instrument of writing was on the 29th day of
September, 2000, filed for record in this office at 9:00 o'clock a.m. and is duly recorded in the records of this office in Book 436 at Page 106. 

        IN
WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal at Monticello, Missouri, this 29th day of September, 2000. 

[Seal]                                

	 	/s/  WILLIAM B. SMITH      
	 	William B. Smith

Recorder of Deeds
	

 	

    
	
 	

Deputy

3

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Exhibit 10.98

MEMORANDUM OF LEASE

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