Document:

ex44123119

                                                                                                   EXHIBIT 4.4                                                                                             DESCRIPTION OF THE REGISTRANT’S SECURITIES                                     REGISTERED PURSUANT TO SECTION 12 OF THE                                          SECURITIES EXCHANGE ACT OF 1934        As of December 31, 2019, Dean Foods Company (the “we” or “Company”) has one class of securities registered under Section  12 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”): our common stock. The following summary of  material terms of the capital stock of the Company is not meant to be complete and is qualified by reference to the relevant  provisions of the General Corporation Law of the State of Delaware (the “DGCL”) and the Company’s restated certificate of  incorporation, as amended (the “Certificate of Incorporation”) and its amended and restated bylaws (the “Bylaws”). Copies of the  Certificate of Incorporation and the Bylaws are incorporated by reference into this annual report.   Authorized Capital Stock      Our authorized capital stock consists of 250,000,000 shares of common stock, par value $0.01 per share (the “Common  Stock”) and 1,000,000 shares of preferred stock, par value $0.01 per share (the “Preferred Stock”). As of March 11, 2020, we  had 91,940,015 shares of our Common Stock outstanding and no shares of Preferred Stock outstanding.  Common Stock  Voting Rights      Holders of our Common Stock are entitled to one vote per share held of record on any matter submitted to a vote of  the stockholders. Our Certificate of Incorporation prohibits cumulative voting for the election of directors.   Dividends      Subject to the rights of the holders of any outstanding shares of Preferred Stock and any restrictions that may be imposed  under our receivables securitization facility and DIP credit agreement, holders of our Common Stock are entitled to receive  dividends, if any, as may be declared by our board of directors out of legally available funds.   Other Rights      In the event of our liquidation, dissolution or winding up, holders of our Common Stock are entitled to share equally and  ratably, based on the number of shares held, in the assets, if any, remaining after payment of all of our debts and liabilities and  the liquidation preference of any outstanding Preferred Stock. The shares of our Common Stock are neither redeemable nor  convertible, and the holders of our Common Stock have no preemptive rights to subscribe for or purchase any additional shares  of capital stock issued by us.  Preferred Stock      Our board of directors has the authority, without further action of our stockholders, to issue up to 1,000,000 shares of  Preferred Stock in one or more series and to fix the powers, preferences, rights and qualifications, limitations or restrictions  thereof, including dividend rights, conversion rights, voting rights, terms of redemption, liquidation preferences and the number  of shares constituting any series or the designations of the series. The issuance of Preferred Stock could adversely affect the  holders of Common Stock. The potential issuance of Preferred Stock may have the effect of discouraging, delaying or preventing  a change of control of the Company, may discourage bids for the Common Stock at a premium over market price of the Common  Stock, and may adversely affect the market price of the Common Stock.  Section 203 of the DGCL      Dean Foods Company is a Delaware corporation and is subject to Section 203 of the DGCL. In general, and subject to certain  exceptions, Section 203 prohibits a Delaware corporation from engaging in a defined set of transactions with a person who is  deemed to be an interested stockholder. The provision defines an “interested stockholder” as a person who, together with any  affiliates or associates of such person, beneficially owns, directly or indirectly, 15% or more of the outstanding voting shares of  the corporation. Section 203 broadly defines the term “business combination” to include mergers, consolidations, sales or other  dispositions of assets having a total value in excess of 10% of the consolidated assets of the corporation, and other transactions  that would increase the interested stockholder’s proportionate share ownership in the corporation or from which the  interested stockholder would directly or indirectly receive any financial benefit.      Section 203 prohibits business combinations between an interested stockholder and the Company for a period of three years  after the date that the stockholder is deemed to be an interested stockholder unless the following three criteria are met:        •   the business combination is approved by the corporation’s board of directors prior to the time the interested         stockholder becomes an interested stockholder;      •   the interested stockholder acquired at least 85% of the voting stock of the corporation, other than stock held by directors          who are also officers or by qualified employee stock plans, in the transaction in which it becomes an interested          stockholder; or   #92986537v5                                                                                                

 

    •   at or subsequent to the time the stockholder became an interested stockholder, the business combination is approved          by a majority of the board of directors and by the affirmative vote of two-thirds of the outstanding voting stock that is          not owned by the interested stockholder.      Under certain circumstances, Section 203 makes it more difficult for a person who would be an “interested stockholder” to  effect various business combinations with a corporation for a three-year period. The provisions of Section 203 may encourage any  entity interested in acquiring the Company to negotiate in advance with our board of directors because the stockholder approval  requirement would be avoided if our board of directors approves either the business combination or the transaction that results  in such entity becoming an interested stockholder. These provisions also may make it more difficult to accomplish transactions  involving the Company that our stockholders may otherwise deem to be in their best interests.  Certain Provisions of the Certificate of Incorporation and Bylaws Relating to Change in Control      Our Certificate of Incorporation and Bylaws contain several provisions that could have the effect of delaying, deterring or  preventing the acquisition of control of the Company by means of tender offer, open market purchases, a proxy contest or  otherwise. Set forth below is a description of those provisions.  Board of Directors- Number of Directors; Removal; Filling Vacancies      The Bylaws provides that the number of directors shall be fixed from time to time by resolution of the Company’s board of  directors. Directors may be removed, either with or without cause, at any time, by vote of the holders of a majority in voting  power of the outstanding shares of capital stock of the Company.      The Bylaws also provide that any vacant directorship, whether due to death, resignation, retirement, removal or otherwise,  or due to an increase in the number of directors in advance of an annual meeting of stockholders, may be filled by the board of  directors and that each additional or successor director shall be appointed by a majority of the directors then in office, although  less than a quorum, to hold office until the next annual meeting election or until his or her successor shall have been duly elected  and qualified or until his or her earlier resignation or removal.   Special Meeting of Stockholders      Our Bylaws provide that special meetings of stockholders may be called only by the Chief Executive Officer and shall be called  by the Chief Executive Officer or the Secretary at the written request of a majority of the board of directors. Special meetings may  not be called by the stockholders. The Board of Directors may postpone, reschedule or cancel any special meeting of  stockholders.   Advance Notice Requirements for Stockholder Proposals and Director Nominations      Stockholders have the right under our Bylaws to directly nominate candidates, without any action or recommendation on the  part of the board of directors, and to propose other business to be brought before meetings of the Company’s stockholders. Our  Bylaws establish advance notice procedures that provide that the notice of stockholder proposals or nominations must contain  certain information as specified in our Bylaws and must be in writing and timely given to the Company’s Corporate Secretary prior  to the meeting at which the action is to be taken. To be timely in the case of an annual meeting, a stockholder’s notice must be  delivered to the Corporate Secretary not earlier than the 120th day and no later than 5:00 p.m., Central time, on the 90th day  prior to the first anniversary of the date of the preceding year’s annual meeting. If the date of the annual meeting is advanced or  delayed by more than 30 days from the first anniversary of the preceding year’s annual meeting, notice by the stockholder must  be delivered not earlier than the 120th day prior to the date of such annual meeting and not later than 5:00 p.m., Central time,  on the later of the 90th day prior to the date of such annual meeting or the 10th day following the day on which public  announcement of the date of such meeting is first made by the Company. To be timely in the case of a special meeting, a  stockholder’s notice must be delivered to the Corporate Secretary not earlier than the 120th day prior to the date of such special  meeting and not later than the close of business on the later of the 90th day prior to the date of such special meeting or, if the  first public announcement of the date such special meeting is less than 100 days prior to the date of such special meeting, the 10th  day following the day on which public announcement of the date of the meeting and of the nominees proposed by the board of  directors to be elected at such meeting is first made. Adjournment or postponement of an annual or special meeting does not  commence a new time period for the giving of notice.       These procedures, as set forth in our Bylaws, are separate from and in addition to Rule 14a-8 or any other rules governing  stockholder proposals set forth in the Exchange Act. Under our Bylaws, if a stockholder wants to have a proposal formally  considered at a stockholder meeting and included in the proxy statement for that meeting, the stockholder must, in addition to  complying with the procedures set forth in the Bylaws, also comply with Rule 14a 8 (or any successor provision) under the  Exchange Act.  Limitations on Liability and Indemnification of Officers and Directors      Our Certificate of Incorporation provides, as authorized by Section 102(b)(7) of the DGCL, that our directors will not be  personally liable to the Company or our stockholders for monetary damages for breach of fiduciary duty as a director, except  for liability:       •   for any breach of the director’s duty of loyalty to us or our stockholders;      •   for acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of law;   #92986537v5                                                                                                

 

    •   for unlawful payments of dividends or unlawful stock repurchases or redemptions as provided in Section 174 of the         DGCL; or      •   for any transaction from which the director derived an improper personal benefit.      This provision may have the effect of reducing the likelihood of derivative litigation against directors, and may discourage or  deter stockholders or management from bringing a lawsuit against directors to recover monetary damages for breach of certain  fiduciary duties as a director.  Authority to Amend Bylaws      Our Bylaws may be altered, amended, repealed or replaced (a) by the affirmative vote of a majority of the entire board of  directors or (b) by stockholders at any annual meeting or special meeting of stockholders with the affirmative vote of the holders  of 66-2/3 percent of the shares entitled to vote at such meeting and at which a quorum is present.  Certain Effect of Authorized but Unissued Stock      Unissued and unreserved shares may be utilized for a variety of corporate purposes, including future public offerings to raise  additional capital and for facilitating corporate acquisitions. One of the effects of unissued and unreserved shares of capital stock  may be to enable the board of directors to render more difficult or discourage an attempt to obtain control of the Company by  means of a merger, tender offer, proxy contest or otherwise, and thereby to protect the continuity of our management. If, in the  due exercise of its fiduciary obligations, for example, the board of directors determines that a takeover proposal was not in our  best interests, such shares could be issued by our board of directors without stockholder approval in one or more private  transactions or other transactions that might prevent or render more difficult or costly the completion of the takeover transaction  by diluting the voting or other rights of the proposed acquiror or insurgent stockholder group, by creating a substantial voting  block in institutional or other hands that might undertake to support the position of the incumbent board of directors, by effecting  an acquisition that might complicate or preclude the takeover, or otherwise.  Listing       Our Common Stock was previously listed on The New York Stock Exchange under the trading symbol “DF,” but has since  been delisted, which delisting became effective on November 27, 2019. Since November 13, 2019, our common stock has  been quoted on the Pink Open Market maintained by the OTC Markets Group, Inc. under the symbol “DFODQ.”  Transfer Agent and Registrar      ComputerShare, Inc. is the transfer agent and registrar for our Common Stock.      #92986537v5ex1038123119

                                                               EXECUTION VERSION                                                                                                   AMENDMENT NO. 1 TO                             NINTH AMENDED AND                                   RESTATED                            RECEIVABLES PURCHASE                                  AGREEMENT                            This  Amendment  No.  1  to  Ninth  Amended  and  Restated  Receivables  Purchase  Agreement (this “Amendment”) is entered into as of December 16, 2019 among Dairy Group  Receivables, L.P., a Delaware limited partnership (“Dairy Group”), Dairy Group Receivables II,  L.P.,  a  Delaware  limited  partnership  (“Dairy  Group  II”  and,  together  with  Dairy  Group,  the  “Sellers”  and  each  a  “Seller”),  each  of  the  parties  listed  on  the  signature  pages  hereof  as  a  “Company” (the “Companies” and each a “Company”), each of the parties listed on the signature  pages  hereof  as  a  “Financial  Institution”  (the  “Financial  Institutions”  and  each  a  “Financial  Institution”) and Coöperatieve Rabobank U.A., New York Branch, as agent for the Purchasers  (the “Agent”). Capitalized terms used herein and not otherwise defined shall have the respective  meanings set forth in, or by reference in, the Ninth Amended and Restated Receivables Purchase  Agreement,  dated  as  of  November  14,  2019,  among  the  Seller  Parties,  Financial  Institutions,  Companies, the Agent and the Co-Agent (the “Existing Agreement,” and as further amended from  time to time, the “Receivables Purchase Agreement”).                                                R E C I T A L S:                            WHEREAS, the Sellers wish to amend the Existing Agreement in certain respects,  upon and subject to the terms and conditions set forth in this Amendment;                            WHEREAS,  pursuant  to Section  14.1(b) of  the  Existing  Agreement,  each  Company, each Seller and the Agent, at the direction of the Required Purchasers, may amend the  Existing Agreement upon and subject to the terms and conditions set forth in this Amendment.                            NOW, THEREFORE, in consideration of the premises, and for other good and  valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties  hereto hereby agree as follows:                            Section 1. Amendments. Subject to the terms and conditions set forth herein and  upon satisfaction of the conditions precedent set forth in Section 2 hereof, the Existing Agreement  is hereby amended as follows:                            (a) Section 8.2(g) of the Existing Agreement is amended by (i) deleting the text  thereof  which  is  lined  out  (indicated  textually  in  the  same  manner  as  the  following  example:  stricken text) and (ii) inserting the text therein which is double underlined (indicated textually in  the same manner as the following example: double underlined text), in each case, in the place  where such text appears below:                                 “(g)  Prior  to the  termination  date  specified  in  the  Wells  Fargo       Termination NoticeJanuary 31, 2020 (or such later date agreed by the Agent  in       writing in its sole discretion), each Servicer shall (x) cause Wells Fargo to rescind   AMERICAS 101650156 

 

     the  Wells  Fargo  Termination  Letter  or  (y)  deliver  an  instruction  directing  all       Obligors that make payments into the Wells Fargo Collection Accounts to pay all       amounts due with respect to the Receivables originated by such Originator directly       to a Collection Account that is subject to the dominion and control of the Agent,       and use commercially reasonable efforts to procure that all such payments are paid       into  the  Collection  Account  notified  to  such  Obligors;  provided  that  if,       notwithstanding the use of commercially reasonable efforts by such Originator to       procure the same, any such payment is paid by an Obligor into an account that is       not a Collection Account subject to the dominion and control of the Agent, such       Originator shall promptly (and in any event within two (2) Business Days (or such       later  date  as  the  Agent  may  reasonably  agree)),  transfer  such  payment  into a       Collection Account subject to the dominion and control of the Agent.”               (b)  Exhibit  I of the  Existing Agreement  is  amended by (i) deleting the text  thereof  which  is  lined  out  (indicated  textually  in  the  same  manner  as  the  following  example:  stricken text) and (ii) inserting the text therein which is double underlined (indicated textually in  the same manner as the following example: double underlined text), in each case, in the place  where such text appears below:                                 “Wells Fargo Termination Letter” means that certain Termination of       Deposit  Account  Control  Agreement  letter  dated  as  of  November  6,  2019 (as       amended December 12, 2019, and as further amended from time to time with the       prior written consent of the Agent in its sole discretion) from Wells Fargo Bank,       National  Association  (“Wells  Fargo”)  to  Provider  and  Agent  in  respect  of  that       certain Deposit Account Control Agreement dated as of December 22, 2016, by and       among Wells Fargo Bank, National Association, Agent, and the Originators party       thereto.”                            Section  2. Conditions  to  Effectiveness  of  Amendment.  This  Amendment  shall  become effective as of the date hereof (the “Amendment Effective Date”) upon the satisfaction of  the following conditions precedent:                            (a)   Amendment. The Agent shall have received, on or before the date hereof,  executed counterparts of this Amendment duly executed by each Company and each Seller.                            (b)   Representations and Warranties. As of the date hereof, both before and after  giving  effect  to  this Amendment,  all  of  the  representations  and  warranties  contained  in  the  Receivables Purchase Agreement and in each other Transaction Document (except representations  and warranties which relate to a specific date, which were true and correct as of such date) shall  be true and correct as though made on and as of the date hereof (and by its execution hereof, each  Seller shall be deemed to have represented and warranted such).                            (c)   No  Amortization  Event  or  Potential  Amortization  Event.  As  of  the  date  hereof, both before and after giving effect to this Amendment, no Amortization Event or Potential  Amortization Event shall have occurred and be continuing (and by its execution hereof, each Seller  shall be deemed to have represented and warranted such).                            Section 3. Miscellaneous.    AMERICAS 101650156 

 

            (a)   Effect; Ratification. The amendments set forth herein are effective solely  for the purposes set forth herein and shall be limited precisely as written, and shall not be deemed  to (i) be a consent to any amendment, waiver or modification of any other term or condition of the  Receivables Purchase Agreement or of any other instrument or agreement referred to therein;  or  (ii) prejudice any right or remedy which any Purchaser, the LC Bank or the Agent may now have  or may have in the future under or in connection with the Receivables Purchase Agreement or any  other instrument  or agreement referred to  therein. Each  reference in  the Receivables  Purchase  Agreement to “this Agreement,” “herein,” “hereof” and words of like import and each reference  in  the  other  Transaction  Documents  to  the  “Receivables  Purchase  Agreement”  shall  mean  the  Receivables  Purchase  Agreement,  as  amended  hereby.  This  Amendment  shall  be  construed  in  connection with and as part of the Receivables  Purchase Agreement and all terms, conditions,  representations,  warranties,  covenants  and  agreements  set  forth  in  the  Receivables  Purchase  Agreement and each other instrument or agreement referred to therein, except as herein amended,  are hereby ratified and confirmed and shall remain in full force and effect.                            (b)   Transaction  Documents.  This  Amendment  is  a  Transaction  Document  executed pursuant to the Receivables Purchase Agreement and shall be construed, administered  and applied in accordance with the terms and provisions thereof.                            (c)   Counterparts.  This  Amendment  may  be  executed  in  any  number of  counterparts, each such counterpart constituting an original and all of which when taken together  shall constitute one and the same instrument.                            (d)   Severability. Any provision contained in this Amendment which is held to  be  inoperative,  unenforceable  or  invalid  in  any  jurisdiction  shall,  as to that  jurisdiction,  be  inoperative,  unenforceable  or  invalid  without  affecting  the  remaining  provisions  of  this  Amendment in that jurisdiction or the operation, enforceability or validity of such provision in any  other jurisdiction.                            (e)   GOVERNING  LAW.  THIS  AMENDMENT  SHALL  BE  GOVERNED  BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAWS OF  THE STATE OF NEW YORK.                            (f)   Direction  of  Required  Purchasers.  By  its  execution  of  a  signature  page  hereto, each Company and each Financial Institution represents to the Agent that, together with  the  other  Companies  and  Financial  Institutions  executing  a  signature  page  hereto,  all  such  Companies and Financial Institutions comprise the “Required Purchasers” and hereby directs the  Agent to execute this Amendment.                                            (Signature Pages Follow)    AMERICAS 101650156 

 

                                                                                                     DAIRY GROUP RECEIVABLES, L.P., as                                   Seller                                    By:  Dairy Group Receivables GP, LLC                                   Its: General Partner                                                                      By:     /s/ Kristy N. Waterman                                     Name: Kristy N. Waterman                                    Title:   Senior Vice President, General Counsel                                        and Corporate Secretary                                    DAIRY GROUP RECEIVABLES II, L.P., as                                   Seller                                    By:  Dairy Group Receivables GP II, LLC                                   Its: General Partner                                                                      By:      /s/ Kristy N. Waterman                                          Name:  Kristy N. Waterman                                    Title     Senior Vice President, General                                                          Counsel and Corporate Secretary                                                        [Signature Page to Amendment to Ninth Amended and Restated Receivables Purchase  Agreement]                   

 

                                                        ALTA-DENA CERTIFIED DAIRY, LLC, as a Servicer                                      BERKELEY FARMS, LLC, as a Servicer                                      COUNTRY FRESH, LLC, as a Servicer                                      DEAN DAIRY HOLDINGS, LLC, as a Servicer                                      DEAN EAST, LLC, as a Servicer                                      DEAN EAST II, LLC, as a Servicer                                      DEAN FOODS NORTH CENTRAL, LLC, as a Servicer                                      DEAN FOODS OF WISCONSIN, LLC, as a Servicer                                      DEAN WEST, LLC, as a Servicer                                      DEAN WEST II, LLC, as a Servicer                                      FRIENDLY'S ICE CREAM HOLDINGS CORP., as a                                      Servicer                                      FRIENDLY'S MANUFACTURING AND RETAIL,                                      LLC, as a Servicer                                      GARELICK FARMS, LLC, as a Servicer                                      MAYFIELD DAIRY FARMS, LLC, as a Servicer                                      MIDWEST ICE CREAM COMPANY, LLC, as a                                      Servicer                                      MODEL DAIRY, LLC, as a Servicer                                      REITER DAIRY, LLC, as a Servicer                                      SHENANDOAH'S PRIDE, LLC, as a Servicer                                      SOUTHERN FOODS GROUP, LLC, as a Servicer                                      SUIZA DAIRY GROUP, LLC, as a Servicer                                      TUSCAN/LEHIGH DAIRIES, INC., as a Servicer                                      VERIFINE DAIRY PRODUCTS OF SHEBOYGAN,                                      LLC, as a Servicer                                                                                                   By:      /s/ Kristy N. Waterman                                                     Name:  Kristy N. Waterman                                        Title     Senior Vice President, General Counsel and                                              Corporate Secretary   [Signature Page to Amendment to Ninth Amended and Restated Receivables Purchase  Agreement] 

 

                                                       DAIRY FOODS COMPANY, as a                                        Provider                                         By:     /s/ Kristy N. Waterman                                          Name: Kristy N. Waterman                                         Title:   Senior Vice President, General                                             Counsel and Corporate Secretary                                     [Signature Page to Amendment to Ninth Amended and Restated Receivables Purchase  Agreement] 

 

                                    COÖPERATIEVE RABOBANK U.A.,                                      NEW YORK BRANCH, as Agent,                                      Company and Financial Institution                                       By:      /s/ Raymond Dizon                                               Name: Raymond Dizon                                      Title:   Executive Director                                      By:      /s/ Christopher Lew                                             Name: Christopher Lew                                      Title:  Executive Director                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                AM ERICAS 101650156                    

 

                                                                                                              COÖPERATIEVE RABOBANK U.A.,  as a Financial Institution   By:      /s/ T.V.H. Stive-Pham       Name:  T.V.H. Stive-Pham  Title:   Director  By:      /s/ E. van Esveld           Name: E. van Esveld  Title:  Managing Director                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            

 

                                                    NIEUW AMSTERDAM RECEIVABLES                                       CORPORATION B.V., as a Company                                        By:      /s/ P.C. van der Linden                                          Name: P.C. van der Linden                                       Title:   Proxyholder                                       By:      /s/ H.R.T. Kroner                                               Name: H.R.T. Kroner                                       Title:  Proxyholder    AMERICAS 101650156 

 

                                                                                                 ACF FINCO I LP, as a Company and                                       Financial Institution                                        By:      /s/ Oleh Szczupak                                               Name: Oleh Szczupak                                       Title:   Proxyholder    AMl!RlCAS I0\6S0\!6

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00306-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00306-of-00352.parquet"}]]