Document:

exv4w2

 

Exhibit 4.2

FIRST SUPPLEMENTAL INDENTURE

     FIRST SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”) executed as of June 22, 2005 by
and among Dean Holding Company, a Delaware corporation (formerly, Dean Foods Company) (the
“Company”), Dean Pickle and Specialty Products Company, a Wisconsin corporation (“Dean Pickle”) and
U.S. Bank National Association (as successor to Bank of America Illinois), as Trustee (the
“Trustee”).

RECITALS

     WHEREAS, the Company and the Trustee have heretofore executed and delivered that certain
Indenture, dated as of January 15, 1995 (the “Indenture”), pursuant to which the Company has or may
issue from time to time unsecured debentures, notes or other evidences of indebtedness in one or
more series (the “Securities”);

     WHEREAS, the Company plans to merge with and into Dean Pickle with Dean Pickle being the
surviving entity (the “Merger”), and upon consummation of the Merger, Dean Pickle will change its
name to Dean Holding Company;

     WHEREAS, the Merger is a permitted transaction pursuant to Section 9.1 of the Indenture
provided that the surviving entity expressly assumes, by a supplemental indenture, the due and
punctual payment of the principal of and interest on all the Securities according to their tenor,
and the due and punctual performance and observance of all of the covenants and conditions of the
Indenture to be performed or observed by the Company;

     WHEREAS, Dean Pickle desires to becomes the successor to the Company with respect to the
Securities and the Indenture as contemplated by Section 9.2 of the Indenture;

     WHEREAS, Section 8.1 of the Indenture provides that the Company, when authorized by a
resolution of its board of directors, and the Trustee may enter into indentures supplemental to the
Indenture without the consent of the Holders;

     WHEREAS, the execution and delivery of this Supplemental Indenture has been duly authorized by
the parties hereto, and all other acts necessary to make this Supplemental Indenture a valid and
binding supplement to the Indenture, effectively supplementing the Indenture as set forth herein,
have been duly taken;

     NOW, THEREFORE, in consideration of the above premises and for other good and valuable
consideration, the receipt of which is hereby acknowledged, it is mutually agreed, for the equal
and proportionate benefit of all Holders, as follows:

 

 

ARTICLE ONE

     1.1 Upon the consummation of the Merger, Dean Pickle agrees to assume the due and punctual
payment of the principal of and interest on all the Securities according to their tenor, and the
due and punctual performance and observance of all of the covenants and conditions of the Indenture
to be performed or observed by the Company.

ARTICLE TWO

     2.1 All terms used in this Supplemental Indenture which are defined in the Indenture and not
otherwise defined herein shall have the meanings assigned to such terms in the Indenture.

     2.2 All of the provisions of this Supplemental Indenture shall be deemed to be incorporated
in, and made part of, the Indenture, and the Indenture, as amended and supplemented by this
Supplemental Indenture, shall be read, taken and construed as one and the same instrument and shall
be binding upon all the Holders.

     2.3 This Supplemental Indenture 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.

     2.4 In case any provision in this Supplemental Indenture shall be invalid, illegal or
unenforceable, the validity, legality and enforceability of the remaining provisions shall not in
any way be affected or impaired thereby.

     2.5 Nothing in this Supplemental Indenture, express or implied, shall give any person, other
than the parties hereto and their successors hereunder and the Holders, any benefit or any legal or
equitable right, remedy or claim under this Supplemental Indenture. Except as expressly
supplemented or amended as set forth in this Supplemental Indenture, the Indenture is hereby
ratified and confirmed, and all the terms, provisions and conditions thereof shall be and continue
in full force and effect. 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 in the Indenture as amended and supplemented by this Supplemental Indenture.

     2.6 The Trustee shall not be responsible in any manner whatsoever for or in respect of the
validity or sufficiency of this Supplemental Indenture, except with respect to the execution hereof
by the Trustee, or for or in respect of the recitals contained herein, all of which are made solely
by the Company and Dean Pickle.

* * * * * * *

 

 

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

	 	 	 	 	 
	 	DEAN HOLDING COMPANY

 	 
	 	/s/ Lisa N. Tyson
 	 
	 	Name:  	Lisa N. Tyson 	 
	 	Title:  	Senior Vice President, Deputy General
Counsel	 
	 	and Assistant Secretary 	 
	 
	 	DEAN PICKLE AND SPECIALTY PRODUCTS COMPANY

 	 
	 	/s/ Lisa N. Tyson
 	 
	 	Name:  	Lisa N. Tyson 	 
	 	Title:  	Vice President and Secretary 	 
	 
	 	U.S. BANK NATIONAL ASSOCIATION,

As Indenture Trustee

 	 
	 	/s/ Richard H. Prokosch
 	 
	 	Name:  	Richard H. Prokosch 	 
	 	Title:  	Vice Presidentexv10w1

 

Exhibit 10.1

Memorandum of Amendment

	 	 	 
	To:

	 	Sam K. Reed
	 

	 	David B. Vermylen
	 

	 	E. Nichol McCully
	 

	 	Thomas E. O’Neill
	 

	 	Harry J. Walsh
	 
	 	 
	From:

	 	Edward Fugger, Vice President – Dean Foods Company
	 
	 	 
	Date:

	 	June 17, 2005
	 
	 	 
	Re:

	 	Amendments to Your Employment Agreement and the Stockholders Agreement

This memorandum is intended to amend that certain Employment Agreement dated as of January 27, 2005
(the “Employment Agreement”) by and between TreeHouse Foods, Inc., f/k/a Dean Specialty Foods
Holdings, Inc. (the “Company”), and you pursuant to Section 10(k) of the Employment Agreement.
This memorandum is further intended to amend that certain Stockholders Agreement dated as of
January 27, 2005 (the “Stockholders Agreement”) among the Company, Dean Foods Company, all of you
and certain other individuals who may become a party thereto, pursuant to Section 12 of the
Stockholders Agreement.

Employment Agreement

Section 6(b) of the Employment Agreement shall be deemed amended by this memorandum such that for
purposes of the Employment Agreement, the term “Initial Fair Market Value” shall mean the
closing price on the first day of regular way trading of the Common Stock (the “Pricing
Date”), as reported on the New York Stock Exchange. Further, all references in the Employment
Agreement and Exhibit A thereto to the “fourth trading day following the Registration Date” shall
be amended to refer instead to the Pricing Date such that the Basic Restricted Shares, the
Supplemental Restricted Share Units and the Option shall be granted to you on the Pricing Date.

Stockholder Agreement

Dean acknowledges that the taxes to be reimbursed by the Company pursuant to Section 4.2(a) of the
Stockholder Agreement will be limited to taxes incurred as a result of (a) the distribution by DIPS
LP as part of the Restructuring Transactions of a 99.99 percent limited partnership interest in LPS
I to Pickle, (b) the distribution by DIPS LP as part of the Restructuring Transactions of a 0.01
percent general partner interest in LPS I to Pickle and (c) the taking into account of
“intercompany items” resulting from the transactions described in clauses (a), and (b) pursuant to
Section 1.1502-13 of the Treasury Regulations because of and in connection with the Distribution;
provided, that the Company’s liability for such taxes shall be limited to $20 million. (Capitalized
terms in the preceding sentence shall have the meaning ascribed to them under the Tax Sharing
Agreement between Dean and the Company.)

 

 

       The Company and Dean agree (x) to cooperate using their good faith efforts to determine the
appropriate value of the intellectual property used to calculate such taxes and the resulting Tax
Reimbursement Amount to be paid by the Company to Dean pursuant to Section 4.3(b) of the
Stockholders Agreement, and (y) that in all events the Tax Reimbursement Amount shall be determined
no later than September 30, 2005. The number of additional shares which will be issued to the
TreeHouse Investors pursuant to Section 4.3(b) of the Stockholders Agreement in connection with the
payment of any Tax Reimbursement Amount by the Company shall be calculated, and such shares shall
be issued to the TreeHouse Investors, promptly after determination of the Tax Reimbursement Amount,
but in no event later than October 14, 2005. Lastly, Section 4.3(b) of the Stockholders Agreement
shall be deemed amended by this memorandum such that “Dean Owned Shares” and “Current
Common Stock Outstanding” shall mean 118,000 and 120,000 shares, respectively, which numbers of
shares shall be subject to adjustment as contemplated by Section 14 to reflect the stock split to
effectuate the spin-off.

The Employment Agreement and Stockholders Agreement remain in full force and effect, except as
expressly amended above.

I have signed this memorandum on behalf of both the Company and Dean Foods Company. If the
foregoing meets with your approval, please countersign this memorandum and return a copy to my
attention.

	 	 	 	 	 	 	 
	Dean Foods Company	 	TreeHouse Foods Inc., f/k/a
	 	 	 	 	Dean Specialty Foods Holdings, Inc.
	 
	 	 	 	 	 	 
	By:

	 	/s/ Edward Fugger
	 	By:
	 	/s/ Edward Fugger
	 

	 	 
	 	 	 	 
	 

	 	Name: Edward Fugger
	 	 	 	Name: Edward Fugger
	 

	 	Title: Vice President
	 	 	 	Title: Vice President – Dean Foods Company

ACCEPTED AND AGREED as of this 17th day of June, 2005:

	 	 	 
	/s/ Sam K. Reed

	 	/s/ David B. Vermylen
	 

	 	 
	Sam K. Reed, individually and

	 	David B. Vermylen
	as the TreeHouse Representative
	 	 
	 
	 	 
	/s/ E. Nichol McCully

	 	/s/ Thomas E. O’Neill
	 

	 	 
	E. Nichol McCully

	 	Thomas E. O’Neill
	 
	 	 
	/s/ Harry J. Walsh
	 	 
	 

	 	 
	Harry J. Walsh

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