Document:

Converted by EDGARwiz

 

DECLARATION OF TRUST 

I, LARRY SOSTAD, hereby declare that the mineral claim described below and registered in the name of my company Multi Metal Mining corp. with the State of Nevada Division of Minerals, is held by me in trust and for the benefit of BOW VALLEY VENTURES, INC. 

Mineral Claim: 

	Tenure Number 

	Claim Name 

	FILE NUMBER

	Area in Acres 

	 

	 

	 	 

	T20060207759

	NEW YEAR NO.1

	20061127-0003297

	20 

	DATED the 23rd day of May, 2007

	 

	  

	 

	  

	 

	  

	 

	 /s/ Larry  Sostad

	 

	LARRY SOSTADExhibit 10.14

TAX SHARING AGREEMENT

This
Tax Sharing Agreement (the “Agreement”), dated as of November 16, 2006, is made
and entered into by and among Sally Beauty Holdings, Inc., a Delaware
corporation (“New Sally”), Sally Investment Holdings LLC, a Delaware limited
liability company and wholly owned subsidiary of New Sally (“Holdings”),  and Sally Holdings LLC, a
Delaware limited liability company and wholly owned subsidiary of Holdings (the
“Company”).  This Agreement shall become
effective and binding upon the parties hereto immediately upon the effective
time of the Acquisition (as defined below) (the “Effective Time”).

W I T N E S S E
T H:

WHEREAS, the parties hereto desire to provide
for the allocation of liabilities, procedures to be followed, and other matters
with respect to Combined Taxes (as defined below);

WHEREAS, Holdings is a wholly owned subsidiary
of New Sally; 

WHEREAS, pursuant to an Investment Agreement,
dated as of June 19, 2006, by and among Alberto-Culver Company, a Delaware
corporation, New Aristotle Company, a Delaware corporation, CDRS Acquisition
LLC, a Delaware limited liability company, New Sally and the Company (the “Investment
Agreement”), New Sally has acquired all equity interests in the Company by
distribution from Alberto-Culver Company (the “Acquisition”);

WHEREAS, New Sally has contributed all equity
interests in the Company to Holdings with the Company becoming a wholly owned
subsidiary of Holdings; 

WHEREAS, Holdings and the Company will be
treated as disregarded entities for U.S. federal income tax purposes; 

WHEREAS, New Sally will include in its taxable
income, for U.S. federal income tax purposes, all items of income, gain, loss,
deduction or credit attributable to Holdings and the Company and the parties
desire to provide New Sally with tax sharing payments to enable New Sally to
satisfy its tax liabilities to taxing authorities; 

WHEREAS, the parties hereto desire to compute
such tax sharing payments as if the Company were treated as an association
taxable as a corporation for U.S. federal income tax purposes;

NOW, THEREFORE, in consideration of the mutual
covenants and promises contained herein and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged,
the parties agree as follows:

ARTICLE I

DEFINITIONS

1.                                       Definitions.

Code:  shall mean the
Internal Revenue Code of 1986, as amended.

Combined Tax:  shall mean any Tax
in respect of a Combined Tax Group. 

Combined Tax Group:  shall mean any affiliated group (i) of which
New Sally or Holdings was or is, or was or is required to be, the common parent
for purposes of paying Taxes or filing a Tax Return and (ii) (A) which
includes, for U.S. federal income tax purposes, all items of income, gain,
loss, deduction or credit attributable to the Company or any of its
Subsidiaries, or (B) of which the Company or any of its Subsidiaries was or is,
or was or is required to

 1
 

be, a member for any Tax year.  For the avoidance of doubt, a Combined Tax
Group shall be deemed to exist in any jurisdiction in which New Sally and/or
Holdings is required to include in its taxable income, for any Tax purposes,
any item of income, gain, loss, deduction or credit attributable to any members
of the Company Group, and shall include such member(s) and New Sally and/or
Holdings, as the case may be.

Combined Tax Return:  shall mean any Tax Return with respect to any
Combined Tax.

Company Group:  shall mean, with respect to any Combined Tax,
a subgroup of the relevant Combined Tax Group, whose member or members shall
include each member of such Combined Tax Group that is either the Company or a
Subsidiary of the Company.

Due Date:  shall mean, with respect to the filing of any
Tax Return or the payment of Tax, the date on which such Tax Return is due to
be filed with, or such payment is due to be made to, the appropriate Taxing
Authority pursuant to applicable law, giving effect to any applicable
extensions of the time for such filing or payment.

Estimated Tax Sharing Payments:  shall mean the periodic tax sharing payments
required under Article III, Section 2 of this Agreement.

IRS:  shall mean the United States Internal Revenue
Service, including, but not limited to, its authorized agents and
representatives and, in the case of a litigated controversy, the attorneys
representing it.

Person:  shall mean any individual, corporation,
partnership, joint venture, association, joint-stock company, limited liability
company, trust, unincorporated organization, government or any agency or
political subdivision thereof or any other entity.

Pro Forma Company Return:  shall mean a pro forma Tax Return prepared
pursuant to Article III, Section 1 or 3.

Subsidiary:  shall mean, with respect to any Person at any
time, any corporation, association, partnership or other business entity of
which more than 50% of the total voting power of shares of capital stock or
other equity interests (including partnership interests) entitled (without
regard to the occurrence of any contingency) to vote in the election of
directors, managers or trustees thereof is at the time owned or controlled,
directly or indirectly, by (a) such Person or (b) one or more
Subsidiaries of such Person.

Tax:  shall mean any federal, state, local or
foreign income, alternative minimum, accumulated earnings, personal holding
company, franchise, capital stock, profits, windfall profits, gross receipts,
sales, use, value added, transfer, registration, stamp, premium, excise,
customs duties, severance, environmental (including taxes under section 59A of
the Code), real property, personal property, ad valorem, rent, occupancy,
license, occupation, employment, payroll, social security, disability,
unemployment, workers’ compensation, withholding, estimated or other similar
tax, duty, fee, assessment or other governmental charge or deficiencies thereof
(including all interest and penalties thereon and additions thereto).

Tax Return:  shall mean any federal, state, local or
foreign tax return, declaration, statement, report, schedule, form or
information return or any amendment to any of the foregoing relating to Taxes.

Taxing Authority:  shall mean, with respect to any Tax, the
governmental entity or political subdivision thereof that imposes such Tax, and
the agency (if any) charged with the collection of such Tax for such entity or
subdivision.

Treasury Regulations:  shall mean the regulations prescribed under
the Code.

2.                                       Successors.  

References to the Company, New Sally or Holdings shall
include any successor thereto or any Person with respect to which the Company,
New Sally or Holdings, respectively, is the successor.

 2
 

3.                                       For
purposes of this Agreement, (i) all determinations and computations of Taxes in
respect of the Company and the Company Group shall be made as if the Company
were treated as an association taxable as a corporation for U.S. federal income
tax purposes, and (ii) taxable income of the Company shall be deemed to include
any item of income of New Sally or Holdings that is attributable to any taxable
period (or portion thereof) ending on or prior to the Effective Time, or to New
Sally’s or Holdings’ receipt of (or entitlement to) any payment in connection
with any of the Transactions (as defined in the Investment Agreement),
including any payment received after the Effective Time pursuant to the
Investment Agreement and any other Transaction Agreement (as defined in the
Investment Agreement).  

ARTICLE II

PROCEDURAL MATTERS

1.                                       New
Sally or Holdings, as the case may be, shall have the sole and exclusive
responsibility for the preparation and filing of each Combined Tax Return for
each Combined Tax with respect to which it is the common parent, including any
amended returns and any other returns, documents or statements required to be
filed with any Taxing Authority relating to such Combined Tax Return.  All such Combined Tax Returns shall be filed
by New Sally or Holdings, as the case may be, on a timely basis, taking into
account extensions of the due date for the filings of such returns.

2.                                       The
Company shall, and shall cause each of its Subsidiaries that is eligible to be
a member of the relevant Combined Tax Group to, join and continue to join in
filing a Combined Tax Return with respect to each jurisdiction for all Tax
years for which such Subsidiary is eligible to do so under the applicable Tax
law, unless New Sally or Holdings, as the case may be, shall request otherwise.

3.                                       New
Sally or Holdings, as the case may be, shall (a) make all payments to
the applicable Taxing Authority of all Combined Taxes that the relevant
Combined Tax Group is required to pay, including estimated payments relating
thereto and (b) have the right to exercise all powers of a common parent
with respect to each Combined Tax Return or Combined Tax.

4.                                       New
Sally or Holdings, as the case may be, shall be the sole and exclusive agent of
the Combined Tax Group of which it is the common parent and of each member of
such group in respect of any and all matters relating to any Combined Tax of
such group for all Combined Tax Return years. 
In its sole discretion, New Sally or Holdings, as the case may be, shall
have the right with respect to each such Combined Tax Return (a) to
determine (i) the manner in which such return shall be prepared and
filed, including, without limitation, the manner in which any item of income,
gain, loss, deduction or credit shall be reported and the adoption or change of
any method of accounting, (ii) whether any extensions may be
requested and (iii) the elections that will be made by each member
of the Combined Tax Group for which such Combined Tax Return is filed, (b) to
contest, compromise or settle any adjustment or deficiency proposed, asserted
or assessed as a result of any audit of such return by any Taxing Authority, (c) to
file, prosecute, compromise or settle any claim for refund and (d) to
determine whether any refund to which such Combined Tax Group may be entitled
shall be paid by way of refund or credited against the Combined Tax liability
of such group.  The Company hereby
irrevocably appoints, and shall cause each of its Subsidiaries that is a member
of each such Combined Tax Group to irrevocably appoint New Sally or Holdings,
as the case may be, as its agent and attorney-in-fact to take such action
(including the execution of documents) as New Sally or Holdings, as the case
may be, may deem appropriate to effect the foregoing.

5.                                       The
Company shall, and shall as appropriate cause each of its Subsidiaries that is
a member of a Combined Tax Group to, reimburse New Sally or Holdings, as
the case may be, for (a) any outside legal and accounting expenses
incurred by New Sally or Holdings or in the course of the conduct of any audit
or contest regarding a Combined Tax liability of such group, (b) any
other expenses incurred by New Sally or Holdings in the course of any
litigation relating thereto and (c) the cost of preparing any Combined
Tax Return or otherwise administering this Agreement.

 3
 

6.                                       The
Company shall, and shall cause each of its Subsidiaries that is a member of
a Combined Tax Group to, furnish to New Sally or Holdings, as the case may
be, in a timely manner such information, documents and other assistance, in
each case as New Sally or Holdings may reasonably request in connection with
the filing of each Combined Tax Return with respect to such group or any audit
or examination by any Taxing Authority or any judicial or administrative
proceeding relating to a Combined Tax of such group or otherwise with respect
to this Agreement and the transactions contemplated hereby.

ARTICLE III

TAX SHARING PAYMENTS

1.                                       For
each Tax year for which New Sally or Holdings files, or is required to file, a
Combined Tax Return on or after the Effective Time, New Sally or Holdings, as
the case may be, shall timely prepare, or cause to be prepared, a Pro Forma
Company Return for the relevant Company Group for such year (including, if
necessary, preparing Pro Forma Company Returns for prior years).  Each such Pro Forma Company Return shall
include only the items of income, deduction, gain, loss and credit of the
members of the Company Group that are required to be reflected on such Combined
Tax Return, and shall be prepared in a manner consistent with the
elections, methods of accounting, and positions with respect to specific items
made or used by New Sally or Holdings, as the case may be, for purposes of such
Combined Tax Return.  Each such Pro Forma
Company Return shall reflect any carryovers of net operating losses, net
capital losses, excess tax credits or other tax attributes from Pro Forma
Company Returns with respect to the same Combined Tax for prior years assuming
that members of such Company Group had not been in existence before the
Effective Time, which carryovers could have been utilized by the Company Group
if such Company Group had never been included in the relevant Combined Tax
Group, but only to the extent New Sally or Holdings, as the case may be,
utilizes such carryovers.  For purposes
of this Article III, Section 1, (a) a carryover will be treated as
utilized by New Sally or Holdings to the extent that the Tax liability of the
relevant Combined Tax Group determined taking into account such carryover is
less than the Tax liability of such Combined Tax Group determined without
giving effect to such carryover, (b) any provision of the Code that
requires consolidated computations, such as sections 861 and 1231, and any
similar provision with respect to any other Combined Tax, shall be applied
separately to the Company Group for purposes of preparing the Pro Forma Company
Return and (c) Treasury Regulations section 1.1502-13, and any
similar provisions with respect to any other Combined Tax, shall be applied as
if the Company Group were not a part of the relevant Combined Tax Group.  The Pro Forma Company Return shall be
provided to the Company no later than 10 days before the Due Date for filing
the relevant Combined Tax Return.

2.                                       For
each Tax year in which a Combined Tax Return is, or is required to be, filed by
New Sally or Holdings, as the case may be, the Company shall, and shall as
appropriate cause each of its Subsidiaries that is a member of the relevant
Combined Tax Group to, make periodic payments (“Estimated Tax Sharing Payments”)
to New Sally or Holdings, as the case may be, in such amounts as, and no later
than the dates on which, payments of estimated tax with respect to such
Combined Tax would be due on or after the Effective Time from the Company Group
under section 6655 of the Code, and any similar provisions with respect to
any other Combined Tax, if it were not included in the relevant Combined Tax
Group (computed on a basis consistent with the relevant Pro Forma Company
Return).  The balance, if any, of the
Estimated Tax Sharing Payments due on or after the Effective Time for such Tax
year shall be paid to New Sally or Holdings, as the case may be, no later than
December 15 of such year.  The Company
shall, and shall as appropriate cause each of its Subsidiaries that is a member
of the relevant Combined Tax Group to, pay to New Sally or Holdings, as the
case may be, no later than the Due Date (for this purpose, determined without
regard to extensions) on which each Combined Tax Return for each Tax year is,
or is required to be, filed by New Sally or Holdings on or after the Effective
Time, an amount equal to the excess of (a) the sum of (i)
the Tax liability shown on the relevant Pro Forma Company Return prepared for
such Tax year and (ii) the additions to tax, if any, under
section 6655 of the Code, and any similar provisions with respect to any
other Combined Tax, that would have been imposed upon the Company Group
(treating the amount due to New Sally or Holdings under clause (i) above as the
Company Group’s Tax liability and treating any

 4
 

Estimated Tax Sharing Payments as estimated Tax payments with respect
to such liability) over (b) the Estimated Tax Sharing Payments made
relating thereto.  

3.             To
the extent that, after the Effective Time, any audit, litigation, claim or
refund with respect to a Combined Tax Return results in an increase in Tax
liability relating to the treatment of a Company Group item, a corresponding
adjustment shall be made to such item and to the Company Group’s Tax liability
reflected on the applicable Pro Forma Company Return.  Within 5 days after any such adjustment, the
Company shall, and shall as appropriate cause each of its Subsidiaries that is
a member of the relevant Combined Tax Group to, make additional Tax sharing
payments, including interest and penalties consistent with such adjustment, to
New Sally or Holdings, as the case may be. 

4.             All
calculations required to be made by New Sally or Holdings under this Agreement
shall be binding upon the parties hereto absent manifest error.

ARTICLE IV

INTEREST

1.             With
respect to any federal income Tax, any amount relating thereto which is
required to be paid by the Company or any of its Subsidiaries pursuant to this
Agreement and which has not been timely paid to New Sally or Holdings, as the
case may be, shall be subject to an interest charge at the rate and in the
manner provided in the Code for interest on underpayments of federal income Tax
for the relevant period.

2.             With
respect to any Combined Tax other than federal income Tax, any amount relating
thereto which is required to be paid by the Company or any of its Subsidiaries
pursuant to this Agreement and which has not been timely paid to New Sally or
Holdings, as the case may be, shall be subject to an interest charge at the
rate and in the manner provided under the applicable state or local statute for
interest on underpayments of such Tax for the relevant period.

ARTICLE V

MISCELLANEOUS PROVISIONS

1.             Any
information or documents furnished by one party to another pursuant to this
Agreement shall be treated as confidential and, except as, and to the extent,
required during the course of an audit or litigation or otherwise required by
law, shall not be disclosed to another Person without the consent, which shall
not be unreasonably withheld, of the first party.

2.             All
payments to be made by any party under this Agreement shall, except to the
extent otherwise specifically provided herein, be made without setoff,
counterclaim or withholding, all of which are expressly waived.

3.             Nothing
in this Agreement shall be construed to require a party hereto to pay any
liability or obligation arising under this Agreement more than once.

4.             If
due to any change in applicable law, regulations, or interpretation thereof
after the date of this Agreement, performance of any provision of this
Agreement or any transaction contemplated thereby shall become impracticable or
impossible, the parties hereto shall use their best efforts to find and employ an
alternative

 5
 

means to achieve the same or substantially the same result as that
contemplated by such provision.

5.             This
Agreement shall be binding upon and inure to the benefit of any successor to
each of the parties, by merger, acquisition of assets or otherwise, to the same
extent as if the successor had been an original party to this Agreement.

6.             This
Agreement shall be governed by and construed in accordance with the laws of the
State of New York without giving effect to the rules or principles of conflict
of laws thereof, to the extent the same are not mandatorily applicable by
statute and would permit or require the application of the laws of another
jurisdiction.

7.             This
Agreement may be executed simultaneously in one or more counterparts, each of which
will be deemed an original, but all of which when taken together shall
constitute one and the same instrument.

8.             The
headings in this Agreement are for convenience only and shall not be deemed for
any purpose to constitute a part or to affect the interpretation of this
Agreement.

9.             This
Agreement may be amended from time to time by agreement in writing executed by
all the parties hereto or all of the parties then bound thereby.  This Agreement constitutes the entire
agreement with respect to the subject matter hereof and supersedes all prior
written and oral understandings with respect thereto.

10.           Any
notice, request or other communication required or permitted in this Agreement
shall be in writing and shall be sufficiently given if personally delivered or
if sent by registered or certified mail, postage prepaid, addressed as follows:

If to New Sally:

Sally Beauty Holdings, Inc.

3001 Colorado Blvd.

Denton, Texas 76210

Fax:  (940) 297-4990

Attention:  Vice President and General
Counsel  

If to Holdings:

Sally Investment Holdings
LLC

c/o Sally Beauty Holdings, Inc.

3001 Colorado Blvd.

Denton, Texas 76210

Fax:  (940) 297-4990

Attention:  Vice President and General
Counsel

If to the Company:

Sally Holdings LLC

c/o Sally Beauty Holdings, Inc.

3001 Colorado Blvd.

Denton, Texas 76210

 6
 

Fax:  (940) 297-4990

Attention:  Vice President and General Counsel

In each case, with a copy to (which shall not constitute notice):

Clayton, Dubilier &
Rice, Inc.

375 Park Avenue

18th Floor

New York, New York 
10152

Fax:  (212) 407-5252

Attention:  Richard J. Schnall

Debevoise
& Plimpton LLP

919 Third Avenue

New York, New York  10022

Fax:  (212) 909-6836

Attention:  David H. Schnabel, Esq.

or
to such other address as set forth in writing by either party to the other in
accordance with this section.

 7
 

IN WITNESS WHEREOF, the parties hereto have caused this
Agreement to be duly executed by their authorized representatives.

	
  

  	
  SALLY BEAUTY HOLDINGS, INC.

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/Raal H. Roos

  	
   

  
	
   

  	
   

  	
  Name: 

  	
  Raal H. Roos

  
	
   

  	
   

  	
  Title:

  	
  Vice President and Secretary

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  SALLY INVESTMENT HOLDINGS LLC

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/Raal H. Roos

  	
   

  
	
   

  	
   

  	
  Name: 

  	
  Raal H. Roos

  
	
   

  	
   

  	
  Title:

  	
  Vice President and Secretary

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  SALLY HOLDINGS LLC

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/Raal H. Roos

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Raal H. Roos

  
	
   

  	
   

  	
  Title:

  	
  Vice President and Secretary

  
							

 

 8

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00128-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00128-of-00352.parquet"}]]