Document:

ex4-3.htm

Exhibit 4.3

 

 

FORM OF 8.875% SENIOR NOTE

(Face of Note)

8.875% Senior Notes due 2019

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

THIS NOTE IS A GLOBAL NOTE WITHIN THE MEANING OF THE INDENTURE AND IS REGISTERED IN THE NAME OF THE DEPOSITARY OR A NOMINEE OF THE DEPOSITARY OR A SUCCESSOR DEPOSITARY.  THIS NOTE IS NOT EXCHANGEABLE FOR SECURITIES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITARY OR ITS NOMINEE EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED
IN THE INDENTURE, AND NO TRANSFER OF THIS NOTE (OTHER THAN A TRANSFER OF THIS NOTE AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY) MAY BE REGISTERED EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE.

 

 

 

 

 

OLIN CORPORATION

8.875 % SENIOR NOTES DUE 2019

 

 

	No. ____ 	CUSIP: 
	 	ISIN: 

 

Olin Corporation promises to pay to Cede & Co., or registered assigns, the principal sum of               Dollars ($          ) on August 15, 2019.

Interest Payment Dates:  February 15 and August 15, beginning

Record Dates:  February 1 and August 1

Reference is made to further provisions of this Note set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as set forth at this place.

Unless the certificate of authentication hereon has been executed by the Trustee referred to on the reverse hereof by manual signature, this Note shall not be entitled to any benefits under the Indenture referred to on the reverse hereof or be valid or obligatory for any purpose.

 

 

 

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In WITNESS HEREOF, the Company has caused this instrument to be duly executed.

Dated:

 

	 	OLIN CORPORATION	 
	 	 	 	 
	
 
	
By: 
	 	 
	 	 	Name: 	 
	 	 	Title: 	 

 

	
 
	
By: 
	 	 
	 	 	Name: 	 
	 	 	Title: 	 

 

 

 

 

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TRUSTEE’S CERTIFICATE OF AUTHENTICATION

This is one of the Notes

referred to in the within-mentioned Indenture:

Dated:

 

	
THE BANK OF NEW YORK MELLON

	 	 TRUST COMPANY, N.A.,
	 	 as Trustee
	 	 
	 	 
	
By: 
	 
	 	Authorized Signatory
	 	 
	 	 

 

 

 

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(Reverse of Note)

8.875% Senior Notes due 2019

OLIN CORPORATION

Capitalized terms used herein shall have the meanings assigned to them in the Indenture referred to below unless otherwise indicated.

(1)           Interest.  Olin Corporation, a Virginia corporation, or its successor (together, “Olin”), promises to pay interest on the principal
amount of this Note (the “Notes”) at a fixed rate of 8.875% per annum.  Olin will pay interest in United States dollars (except as otherwise provided herein) semiannually in arrears on February 15 and August 15 of each year, commencing on February 15, 2010 or, if any such day is not a Business Day, on the next succeeding Business Day (each an “Interest Payment
Date”).  Interest on the Notes shall accrue from the most recent date to which interest has been paid or, if no interest has been paid, from and including August 19, 2009; provided that if there is no existing Default or Event of Default in the payment of interest, and if this Note is authenticated between a record date referred to on the face hereof and the next succeeding Interest Payment Date (but after August 19, 2009),
interest shall accrue from such next succeeding Interest Payment Date, except in the case of the original issuance of the Notes, in which case interest shall accrue from the date of authentication.  Olin shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal at the rate equal to 1% per annum in excess of the then applicable interest rate on the Notes to the extent lawful; it shall
pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest (without regard to any applicable grace period) at the same rate to the extent lawful.  Interest shall be computed on the basis of a 360-day year comprised of twelve 30-day months.  The interest rate on the Notes will in no event be higher than the maximum rate permitted by New York law as the same may be modified by United States law of general application.

(2)           Method of Payment.  Olin will pay interest on the Notes (except defaulted interest) on the applicable Interest Payment Date to the Persons who are registered Holders of the Notes at the close of business
on the February 1 and August 1 preceding the Interest Payment Date, even if such Notes are cancelled after such record date and on or before such Interest Payment Date, except as provided in Section 2.4 of the Supplemental Indenture with respect to defaulted interest.  The Notes shall be payable as to principal, premium and interest at the office or agency of Olin maintained for such purpose within or without the City and State of New York, or, at the option of Olin, payment of interest may
be made by check mailed to the Holders at their addresses set forth in the register of Holders; provided that payment by wire transfer of immediately available funds shall be required with respect to principal of, premium, if any, and interest on, all Global Notes and all other Notes the Holders of which shall have provided written wire transfer instructions to Olin and the Paying Agent.  Such payment shall be in such coin or currency of the United
States of America as at the time of payment is legal tender for payment of public and private debts.

 

 

 

 

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Any payments of principal of and interest on this Note prior to Stated Maturity shall be binding upon all future Holders of this Note and of any Note issued upon the registration of transfer hereof or in exchange hereof or in lieu hereof, whether or not noted hereon.  The amount due and payable at the maturity of this Note shall
be payable only upon presentation and surrender of this Note at an office of the Trustee or the Trustee’s agent appointed for such purposes.

(3)           Paying Agent and Registrar.  Initially, The Bank of New York Mellon Trust Company, N.A., the Trustee under the Indenture, shall act as Paying Agent and Registrar.  Olin may change any Paying
Agent or Registrar without notice to any Holder.  Olin or any of its Restricted Subsidiaries may act in any such capacity.

(4)           Indenture.  Olin issued the Notes under an Indenture, dated as of August 19, 2009 between Olin and the Trustee (the “Base Indenture”),
as supplemented by the Supplemental Indenture dated August 19, 2009 (the “Supplemental Indenture” and, as so supplemented, the “Indenture”), between Olin and the Trustee.  The terms of the Notes include those stated in the Indenture and those made a part of the Indenture by reference to the Trust Indenture
Act of 1939, as amended (15 U.S. Code §§ 77aaa-77bbbb) (the “TIA”).  To the extent the provisions of this Note are inconsistent with the provisions of the Indenture, the Indenture shall govern.  The Notes are subject to all such terms, and Holders are referred to the Indenture and the TIA for a statement of such terms.  The Notes issued on the Issue Date are senior unsecured obligations of Olin limited
to $150,000,000 in aggregate principal amount, plus amounts, if any, sufficient to pay premium and interest on outstanding Notes as set forth in Paragraph 2 hereof.  The Indenture permits the issuance of Additional Notes subject to compliance with certain conditions.

(5)           Optional Redemption.

(i)           The Notes are subject to redemption, at the option of the Company, in whole or in part, at any time on or after August 15, 2014 upon not less than 30 nor more than 60 days’ notice at the following Redemption Prices (expressed as percentages of the principal
amount to be redeemed) set forth below, plus accrued and unpaid interest, if any, to, but not including, the redemption date (subject to the right of Holders of record on the relevant regular record date to receive interest due on the relevant interest payment date), if redeemed during the 12-month period beginning on August 15 of the years indicated below:

 

	
Year
	
  Redemption Price

	
2014
	
    104.438%

	
2015
	
    102.958%

	
2016
	
    101.479%

	
2017 and thereafter
	
    100.000%

 

 

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(ii)           Prior to August 15, 2012, the Company may, with the net proceeds of one or more Qualified Equity Offerings, redeem up to 35% of the aggregate principal amount of the outstanding Notes (including Additional Notes) at a Redemption Price equal to 108.875% of
the principal amount thereof, together with accrued and unpaid interest thereon, if any, to the date of redemption; provided, however, that at least 65% of the principal amount of Notes then outstanding (including Additional Notes) remains outstanding immediately after the occurrence of any such redemption (excluding Notes held by the Company or its Subsidiaries) and that any such redemption occurs
within 90 days following the closing of any such Qualified Equity Offering.

(iii)           In addition, the Notes may be redeemed, in whole or in part, at any time prior to August 15, 2014 at the option of the Company upon not less than 30 nor more than 60 days’ prior notice mailed by first-class mail to each Holder of Notes at its registered
address, at a Redemption Price equal to 100% of the principal amount of the Notes redeemed plus the Applicable Premium as of, and accrued and unpaid interest to, the applicable redemption date (subject to the right of Holders of record on the relevant record date to receive interest due on the relevant interest payment date).

(6)           Mandatory Redemption.  Olin shall not be required to make mandatory redemption or sinking fund payments with respect to the Notes.

(7)           Repurchase at Option of Holder.

(a)           Upon the occurrence of a Change of Control, Olin will make an Offer to Purchase for all of the outstanding Notes at a purchase price in cash equal to 101% of the aggregate principal amount thereof plus accrued and unpaid interest thereon to but not including the date of purchase.  Within
60 days following any Change of Control, Olin will mail or deliver a notice to each Holder describing the transaction or transactions that constitute the Change of Control setting forth the procedures governing the Change of Control Offer required by the Indenture.

(b)           Upon the occurrence of certain Asset Sales, Olin may be required to Offer to Purchase the Notes.

(c)           Holders of the Notes that are the subject of an Offer to Purchase will receive notice of an Offer to Purchase pursuant to an Asset Sale or a Change of Control from Olin prior to any related Purchase Date and may elect to have such Notes purchased by completing the form titled
“Option of Holder to Elect Purchase” appearing below.

(8)           Notice of Redemption.  Notice of redemption shall be delivered at least 30 days but not more than 60 days before the redemption date to each Holder whose Notes are to be redeemed at its registered
address.  Notes in denominations larger than $2,000 may be redeemed in part but only in a minimum amount of $2,000 principal amount (and integral multiples of $1,000 in excess thereof), unless all of the Notes held by a Holder are to be redeemed.  On and after the redemption date, interest ceases to accrue on the Notes or portions hereof called for redemption.

 

 

 

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(9)           Denominations, Transfer, Exchange.  The Notes are in registered form without coupons in initial denominations of $2,000 and any integral multiple of $1,000 in excess thereof.  The transfer
of the Notes may be registered and the Notes may be exchanged as provided in the Indenture.  The Registrar and the Trustee may require a Holder, among other things, to furnish appropriate endorsements and transfer documents and Olin may require a Holder to pay any taxes and fees required by law or permitted by the Indenture.  Olin need not exchange or register the transfer of any Note or portion of a Note selected
for redemption, except for the unredeemed portion of any Note being redeemed in part.  Also, it need not exchange or register the transfer of any Notes for a period of 15 days before a selection of Notes to be redeemed or during the period between a record date and the corresponding Interest Payment Date.

(10)           Persons Deemed Owners.  The registered holder of a Note may be treated as its owner for all purposes.

(11)           Defaults and Remedies.  Events of Default include:

(1)           default in the payment in respect of the principal of (or premium, if any, on) any Note when due and payable (whether at Stated Maturity or upon repurchase, acceleration, optional redemption or otherwise);

(2)           default in the payment of any interest upon any Note when it becomes due and payable, and continuance of such default for a period of 30 days;

(3)           except as permitted by the Indenture, any Note Guarantee of any Significant Subsidiary (or any group of Restricted Subsidiaries that, taken together, would constitute a Significant Subsidiary), shall for any reason cease to be, or it shall be asserted by any Guarantor or
Olin not to be, in full force and effect and enforceable in accordance with its terms;

(4)           default in the performance, or breach, of any covenant or agreement of Olin or any Restricted Subsidiary in the Indenture (other than a covenant or agreement a default in whose performance or whose breach is specifically dealt with in clause (1), (2) or (3) above), and continuance
of such default or breach for a period of 60 days after written notice thereof has been given to Olin by the Trustee or to Olin and the Trustee by the Holders of at least 25% in aggregate principal amount of the outstanding Notes;

(5)           a default or defaults under any bonds, debentures, notes or other evidences of Debt (other than the Notes) by Olin or any Significant Subsidiary having, individually or in the aggregate, a principal or similar amount outstanding of at least $25.0 million, whether such Debt
now exists or shall hereafter be created, which default or defaults shall have resulted in the acceleration of the maturity of such Debt prior to its express maturity or shall constitute a failure to pay principal of, or interest or premium on such Debt when due and payable after the expiration of any applicable grace period with respect thereto;

 

 

 

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(6)           the entry against Olin or any Restricted Subsidiary that is a Significant Subsidiary of a final judgment or final judgments for the payment of money in an aggregate amount in excess of $25.0
million, by a court or courts of competent jurisdiction, which judgments remain undischarged, unwaived, unstayed, unbonded or unsatisfied for a period of 60 consecutive days; or

 

(7)           (i) Olin, any Significant Subsidiary or any group of Restricted Subsidiaries that, taken together, would constitute a Significant Subsidiary, pursuant to or within the meaning of any Bankruptcy Law:

(a)           commences a voluntary case,

(b)           consents to the entry of an order for relief against it in an involuntary case,

(c)           consents to the appointment of a custodian of it or for all or substantially all of its property,

(d)           makes a general assignment for the benefit of its creditors, or

(e)           generally is not paying its debts as they become due; or

                (ii)a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that:

(a)           is for relief against Olin or any Significant Subsidiary or any group of Restricted Subsidiaries that, taken together, would constitute a Significant Subsidiary, in an involuntary case;

(b)           appoints a custodian of Olin or any Significant Subsidiary or any group of Restricted Subsidiaries that, taken together, would constitute a Significant Subsidiary for all or substantially all of the property of Olin or any
of its Significant Subsidiaries; or

 

(c)           orders the liquidation of Olin or any Significant Subsidiary or any group of Restricted Subsidiaries that, taken together, would constitute a Significant Subsidiary;

 

and the order or decree remains unstayed and in effect for 60 consecutive days.

(12)           Trustee Dealings with Olin.  The Trustee, in its individual or any other capacity, may make loans to, accept deposits from, and perform services for Olin, the Guarantors, if any, or their respective
Affiliates, and may otherwise deal with Olin, the Guarantors, if any, or their respective Affiliates, as if it were not the Trustee.

 

 

 

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(13)           No Recourse Against Others.  No director, officer, employee, stockholder, general or limited partner or incorporator, past, present or future, of Olin, the Guarantors, if any, or any of their respective
Subsidiaries, as such or in such capacity, shall have any personal liability for any obligations of Olin under the Notes, any Note Guarantee or the Indenture by reason of his, her or its status as such director, officer, employee, stockholder, general or limited partner or incorporator.  Each Holder of the Notes by accepting the Note waives and releases all such liability.  The waiver and release are part of the consideration for the issuances of such Notes.

No recourse may, to the full extent permitted by applicable law, be taken, directly or indirectly, with respect to the obligations of Olin or the Guarantors, if any, on the Notes or under the Indenture or any related documents, any certificate or other writing delivered in connection therewith, against (i) the Trustee in its individual
capacity, or (ii) any partner, owner, beneficiary, agent, officer, director, employee, agent, successor or assign of the Trustee, each in its individual capacity, or (iii) any holder of equity in the Trustee.

Each Holder of Notes by accepting a Note waives and releases all such liability.  The waiver and release are part of the consideration for the issuance of the Notes.

(14)           Authentication.  This Note shall not be valid until authenticated by the manual signature of the Trustee or an authenticating agent.

(15)           Abbreviations.  Customary abbreviations may be used in the name of a Holder or an assignee, such as:  TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint
tenants with right of survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts to Minors Act).

(16)           CUSIP, ISIN Numbers.  Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification Procedures, the Company has caused CUSIP numbers to be printed on the Notes and the
Trustee may use CUSIP, ISIN or other similar numbers in notices of redemption as a convenience to the Holders.  No representation is made as to the accuracy of such numbers either as printed on the Notes or as contained in any notice of redemption and reliance may be placed only on the other identification numbers placed thereon.

(17)           GOVERNING LAW.  THE LAW OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO CONSTRUE THE INDENTURE, THE NOTES AND THE NOTE GUARANTEES, IF ANY.  EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY
WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THE INDENTURE, THE NOTES OR THE NOTE GUARANTEES.

 

 

 

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Olin shall furnish to any Holder upon written request and without charge a copy of the Indenture.  Requests may be made to:

Olin Corporation

190 Gondelet Plaza

Suite 1530

Clayton, Missouri 63105

Facsimile:  (314) 862-7406

Attention:  George H. Pain, Esq.

 

 

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ASSIGNMENT FORM

 

 

To assign this Note, fill in the form below:  (I) or (we) assign and transfer this Note to

________________________

(Insert assignee’s soc. sec. or tax I.D. no.)

________________________

________________________

________________________

(Print or type assignee’s name, address and zip code)

and irrevocably appoint

_______________________________________________________________________________________________________________________

to transfer this Note on the books of Olin.  The agent may substitute another to act for him.

Date:  ________________

                      Your
Signature:  _________________________

                      (Sign
exactly as your name appears on the

                      face
of this Note)

Signature guarantee: ______________

(Signature must be guaranteed by a participant in a recognized signature guarantee medallion program)

 

 

 

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OPTION OF HOLDER TO ELECT PURCHASE

If you want to elect to have this Note purchased by Olin Corporation pursuant to Section 4.10 (Asset Sale) or 4.14 (Change of Control) of the Supplemental Indenture, check the box below:

[  ] Section 4.10                                [  ] Section 4.14

If you want to elect to have only part of the Note purchased by Olin Corporation pursuant to Section 4.10 or 4.14 of the Indenture, state the amount you elect to have purchased:

 

$_____________________

Date:  _______________________                             Your
Signature:  ____________________________________

                                  (Sign
exactly as your name appears on the Note)

                    
Tax Identification Number:

                    
 _________________

Signature guarantee:______________

(Signature must be guaranteed by a participant in a recognized signature guarantee medallion program)

 

 

 

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SCHEDULE A

SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE

The following exchanges of a part of this Global Note for other 8.875% Senior Notes have been made:

 

	
 

Date of Exchange

	 	

Amount of

Decrease in

Principal Amount of this

Global Note

	 	

Amount of

Increase in

Principal Amount of this

Global Note

	 	

Principal Amount

of this Global Note

Following Such Decrease

(or Increase)

	 	

Signature of

Authorized Officer

of Trustee or

Note Custodian

	  	 	  	 	  	 	  	 	  
	  	 	  	 	  	 	  	 	  
	  	 	  	 	  	 	  	 	  
	  	 	  	 	  	 	  	 	  
	  	 	  	 	  	 	  	 	  

 

 

 

14Converted by EDGARwiz

 

Rule 10b5-1 Sales Plan

  

This Sales Plan dated August 17, 2009 (this “Sales Plan”) is  between James R. Musick (“Seller’) and Ameriprise Financial Services, Inc. acting as agent for Seller.

A. Recitals

1.   This Sales Plan is entered into between Seller and Ameriprise Financial Services, Inc. for the purpose of establishing a trading plan that complies with the requirements of Rule 10b5-1(c)(1) under the Securities Exchange Act of 1934, as amended (the "Exchange Act").

2.   Seller is establishing this Sales Plan in order to permit the orderly disposition of a portion of Seller's holdings of the common stock (the "Stock") of Vitro Diagnostics, Inc. (the "Issuer"), including Stock that Seller has the right to acquire under the outstanding stock options issued by the Issuer listed on Schedule A hereto (the "Options").

B. Seller's Representations, Warranties and Covenants

1. As of the date hereof, Seller is not aware of any material nonpublic information concerning the Issuer or its securities. Seller is entering into this Sales Plan in good faith and not as part of a plan or scheme to evade compliance with the federal securities laws.

2.  The securities to be sold under this Sales Plan are owned free and clear by Seller (subject, in the case of shares underlying Options, only to the compliance by Seller with the exercise provisions of such Options) and are not subject to any agreement granting any pledge, lien, mortgage, hypothecation, security interest, charge, option or encumbrance or any other limitation on disposition, other than those which may have been entered into between Seller and Ameriprise Financial Services, Inc. or imposed by Rules 144 or 145 under the Securities Act of 1933, as amended (the "Securities Act").

3. While this Sales Plan is in effect, Seller agrees not to enter into or alter any corresponding or hedging transaction or position with respect to the securities covered by this Sales Plan (including, without limitation, with respect to any securities convertible or exchangeable into the Stock) and agrees not to alter or deviate from the terms of this Sales Plan.

4.  Seller agrees that Seller shall not, directly or indirectly, communicate any information relating to the Stock or the Issuer to any employee of Ameriprise Financial Services, Inc. or its affiliates who are involved, directly or indirectly, in executing this Sales Plan at any time while this Sales Plan is in effect. Any notice given to Ameriprise Financial Services, Inc. pursuant to this Sales Plan shall be given in accordance with paragraph G.5.

5.   (a) Seller agrees to provide Ameriprise Financial Services, Inc. with a certificate dated as of the date hereof and signed by the Issuer substantially in the form of Exhibit A prior to commencement of the Plan Sales Period (as defined below).

(b) Seller agrees to notify Ameriprise Financial Services, Inc. by telephone at the number set forth in paragraph G.5 below as soon as practicable if Seller becomes aware of the occurrence of any event contemplated by paragraph 3 of the certificate set forth as Exhibit A. Such notice shall indicate the anticipated duration of the restriction, but shall not include any other information about the nature of the restriction or its applicability to Seller and shall not in any way communicate any material nonpublic information about the Issuer or its securities to Ameriprise Financial Services, Inc. Such noticeshall be in addition to the notice required to be given to Ameriprise Financial Services, Inc. by the Issuer pursuant to the certificate set forth as Exhibit A hereto.

6.  The execution and delivery of this Sales Plan by Seller and the transactions contemplated by this Sales Plan will not contravene any provision of applicable law or any agreement or other instrument binding on Seller or any of Seller's affiliates or any judgment, order or decree of any governmental body, agency or court having jurisdiction over Seller or Seller's affiliates.

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7.  Seller has consulted with Seller's own advisors as to the legal, tax, business, financial and related aspects of, and has not relied upon Ameriprise Financial Services, Inc. or any person affiliated with Ameriprise Financial Services, Inc. in connection with, Seller's adoption and implementation of this Sales Plan. Seller acknowledges that Ameriprise Financial Services, Inc. is not acting as a fiduciary or an advisor for Seller.

8. Seller agrees that until this Sales Plan has been terminated Seller shall not (i) enter into a binding contract with respect to the purchase or sale of Stock with another broker, dealer or financial institution (each, a "Financial Institution"), (ii) instruct another Financial Institution to purchase or sell Stock or (iii) adopt a plan for trading with respect to Stock other than this Sales Plan.

9. (a) Seller agrees to make all filings, if any, required under Sections 13(d), 13(g) and 16 of the Exchange Act in a timely manner, to the extent any such filings are applicable to Seller.

(b) Seller agrees that Seller shall at all times during the Plan Sales Period (as defined below), in connection with the performance of this Sales Plan, comply with all applicable laws, including, without limitation, Section 16 of the Exchange Act and the rules and regulations promulgated thereunder.

Paragraphs 10 and 11 are applicable only to shares restricted by Rule 144 and/or Rule 145.

10. Seller agrees to complete, execute and deliver to Ameriprise Financial Services, Inc. a seller representation letter dated as of the date hereof substantially in the form of Exhibit B hereto prior to the commencement of the Plan Sales Period.

11. (a) Seller represents and warrants that the Stock to be sold pursuant to this Sales Plan is currently eligible for sale under Rule 144 or 145.

(b) Seller agrees not to take, and agrees to cause any person or entity with which Seller would be required to aggregate sales of Stock pursuant to paragraph (a)(2) or (e) of Rule 144 not to take, any action that would cause the sales hereunder not to meet all applicable requirements of Rule 144.

(c) Seller agrees to complete, execute and deliver to Ameriprise Financial Services, Inc. Forms 144 for the sales to be effected under this Sales Plan at such times and in such numbers as Ameriprise Financial Services, Inc. shall request, and Ameriprise Financial Services, Inc. agrees to file such Forms 144 on behalf of Seller as required by applicable law. Seller understands and agrees that Ameriprise Financial Services, Inc. shall make one Form 144 filing at the beginning of each three-month period commencing upon the first Sale Day under this Sales Plan.

(d) Seller hereby grants Ameriprise Financial Services, Inc., a power of attorney to complete and/or file on behalf of Seller any required Forms 144. Notwithstanding such power of attorney, Seller acknowledges that Ameriprise Financial Services, Inc. shall have no obligation to complete or file Forms 144 on behalf of Seller except as set forth in subparagraph (c).

(e) Ameriprise Financial Services, Inc. agrees to conduct all sales pursuant to this Sales Plan in accordance with the manner of sale requirement of Rule 144 of the Securities Act and in no event shall Ameriprise Financial Services, Inc. effect any sale if such sale would exceed the then-applicable amount limitation under Rule 144, assuming Ameriprise Financial Services, Inc.'s sales pursuant to this Sales Plan are the only sales subject to that limitation.

12. Seller acknowledges and agrees that Seller does not have, and shall not attempt to exercise, any influence over how, when or whether to effect sales of Stock pursuant to this Sales Plan.

C. Implementation of the Plan

1. Seller hereby appoints Ameriprise Financial Services, Inc. to sell shares of Stock pursuant to the terms and conditions set forth below. Subject to such terms and conditions, Ameriprise Financial Services, Inc. hereby accepts such appointment.

2.  Ameriprise Financial Services, Inc. is authorized to begin selling Stock pursuant to this Sales Plan on        August 17, 2009 and shall cease selling Stock on the earliest to occur of (i) the date on which Ameriprise Financial Services, Inc.is required to suspend or terminate sales under the Sales Plan pursuant to 

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paragraph D.1 below, (ii) the date on which Ameriprise Financial Services, Inc. receives notice of the death of Seller, (iii) the date on which the Issuer or any other person publicly announces a tender or exchange

offer with respect to the Stock or a merger, acquisition, reorganization, recapitalization or comparable transaction affecting the securities of the Issuer as a result of which the Stock is to be exchanged or converted into shares of another company, (iv) the date on which Ameriprise Financial Services, Inc. receives notice of the commencement or impending commencement of any proceedings in respect of or triggered by Seller's bankruptcy or insolvency and (v) (specify one or more occurrences that will mark the last day on which sales may occur):  October 31, 2009, and/or the date that the aggregate number of shares of Stock sold pursuant to this Sales Plan reaches 170,000 shares.

3.   (a) Establishing Your Plan Price — During the Plan Sales Period, Ameriprise Financial Services, Inc. shall sell the Daily Sale Amount (as defined below) for the account of Seller on each Sale Day (as defined below), subject to the following restrictions, if desired:  Ameriprise Financial Services, Inc. shall sell shares of Stock pursuant to this Sales Plan at a price at or above $  0.28 per share (before deducting any commission, commission equivalent, mark-up or differential and other expenses of sale) (the "Minimum Sale Price").

 (b) Establishing a Plan Time Schedule— A "Sale Day" is "each Trading Day"  during the Plan Sales Period,  provided that if any Sale Day is not a Trading Day, such Sale Day shall be deemed to fall on the next succeeding Trading Day. A "Trading Day" is any day during the Plan Sales Period that the principal market or exchange for the Stock (the "Principal Market") is open for business and the Stock trades regular way on the Principal Market. Orders placed with Ameriprise Financial are good for 90 calendar days. In the event an Ameriprise financial advisor is submitting this contract on behalf of the client, it is the sole responsibility of the financial advisor to promptly renew orders that may expire under the Sales Plan. Ameriprise Financial Services, Inc. assumes no liability for trades not placed due to expiration of any sales order initially placed by an Ameriprise financial advisor.

(c) Establishing Plan Quantity— The "Daily Sale Amount" for any Sale Day shall be 5,000 (Five thousand) Shares per Sale Day.

(d) Subject to the restrictions set forth in paragraph C.3(a) above, Ameriprise Financial Services, Inc. shall sell the Daily Sale Amount on each Sale Day under ordinary principles of best execution at the then-prevailing market price.

(e)  If, consistent with ordinary principles of best execution or for any other reason, Ameriprise Financial Services, Inc. cannot sell the Daily Sale Amount on any Sale Day, then Brokerage Firm's obligation to sell Stock on such Sale Day pursuant to this Sales Plan shall be deemed to have been satisfied. Nevertheless, if any such shortfall exists after the close of trading on the last Trading Day of the Plan Sales Period, Ameriprise Financial Services, Inc.'s authority to sell such shares for the account of Seller under this Sales Plan shall terminate.

(f)  The Daily Sale Amount or the Minimum Sale Price, if applicable, shall be adjusted automatically on a proportionate basis to take into account any stock split, reverse stock split or stock dividend with respect to the Stock or any change in capitalization with respect to the Issuer that occurs during the Plan Sales Period.

4.    Ameriprise Financial Services, Inc. shall not sell Stock hereunder at any time when:

(i)   Ameriprise Financial Services, Inc., in its sole discretion, has determined that it is prohibited from doing so by a legal, contractual or regulatory restriction applicable to it or its affiliates or to Seller or Seller's affiliates (other than any such restriction relating to Seller's possession or alleged possession of material nonpublic information about the Issuer or the Stock); or

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(ii)   Ameriprise Financial Services, Inc. has received notice from the Issuer or Seller of the occurrence of any event contemplated by paragraph 3 of the certificate set forth as Exhibit A hereto; or

(iii) Ameriprise Financial Services, Inc. has received notice from Seller to terminate the Sales Plan in accordance with paragraph D.1 below.

5.   (a) On each day that sales are to be made under this Sales Plan, Ameriprise Financial Services, Inc. shall exercise a sufficient number of Options to effect such sales* in the manner specified below:

exercise first those Options with the lowest exercise price. *See Schedule A on page 5 of this document.

Ameriprise Financial Services, Inc. shall in no event exercise any Option if at the time of exercise the exercise price of the Option is equal to or higher than the market price of the Stock.

(b) Ameriprise Financial Services, Inc. shall, in connection with the exercise of Options, remit to the Issuer the exercise price thereof along with such amounts as may be necessary to satisfy withholding obligations. These amounts shall be deducted from the proceeds of sale of the Stock, together with interest thereon computed in accordance with Ameriprise Financial Services, Inc.'s customary practices.

(c) To the extent that any Stock remains in the Plan Account after the end of the Plan Sales Period or upon termination of this Sales Plan, Ameriprise Financial Services, Inc. agrees to return such Stock promptly to the Issuer's transfer agent for relegending to the extent that such Stock would then be subject to transfer restrictions in the hands of the Seller.

6.    Ameriprise Financial Services, Inc. shall in no event effect any sale under this Sales Plan if the Stock to be sold is not in the Plan Account or underlying an Option that is exercised in accordance with the terms of this Sales Plan on the day of such sale.

7.    Ameriprise Financial Services, Inc. may sell Stock on any national securities exchange, in the over-the-counter market, on an automated trading system or otherwise.

D. Termination

1.  (a) This Sales Plan may be suspended or terminated by Seller at any time upon three days prior written notice sent to Ameriprise Financial Services, Inc. by overnight mail and by facsimile at the address and fax number set forth in paragraph G.5 below. Seller agrees that Seller shall not suspend or terminate this Sales Plan except upon consultation with Seller's own legal advisors.

(b) This Sales Plan shall be suspended or, at Ameriprise Financial Services, Inc.'s option, terminated, if Ameriprise Financial Services, Inc. receives notice from the Issuer of the occurrence of any event contemplated by paragraph 3 of the certificate set forth as Exhibit A hereto.

2.  Seller agrees that Ameriprise Financial Services, Inc. will execute this Sales Plan in accordance with its terms and will not be required to suspend or terminate any sales of the Stock unless Ameriprise Financial Services, Inc. has received notice from Seller or the Issuer in accordance with paragraph D.1 above at least three days prior to the date on which this Sales Plan is to be suspended or terminated.

3.  This Sales Plan may be amended by Seller only upon the written consent of Ameriprise Financial Services, Inc. and receipt by Ameriprise Financial Services, Inc. of the following documents, each dated as of the date of such amendment:

(i)   a representation signed by the Issuer substantially in the form of Exhibit A hereto,

(ii) a certificate signed by Seller certifying that the representations and warranties of Seller contained in this Sales Plan are true at and as of the date of such certificate as if made at and as of such date and

(iii) a seller representation letter completed and executed by Seller substantially in the form of 

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Exhibit B hereto.

E. Indemnification; Limitation of Liability

1.  (a) Seller agrees to indemnify and hold harmless Ameriprise Financial Services, Inc. and its directors, officers, employees and affiliates from and against all claims, losses, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) arising out of or attributable to Ameriprise Financial Services, Inc.'s actions taken or not taken in compliance with this Sales Plan or arising out of or attributable to any breach by Seller of this Sales Plan (including Seller's representations and warranties hereunder) or any violation by Seller of applicable laws or regulations. This indemnification shall survive termination of this Sales Plan.

(b) Notwithstanding any other provision hereof, Ameriprise Financial Services, Inc. shall not be liable to Seller for:

(i)   special, indirect, punitive, exemplary or consequential damages, or incidental losses or damages of any kind, even if advised of the possibility of such losses or damages or if such losses or damages could have been reasonably foreseen, or

(ii)   any failure to perform or to cease performance or any delay in performance that results from a cause or circumstance that is beyond its reasonable control, including but not limited to failure of electronic or mechanical equipment, strikes, failure of common carrier or utility systems, severe weather, market disruptions or other causes commonly known as "acts of God".

2.  Seller acknowledges and agrees that in performing Seller's obligations hereunder neither Ameriprise Financial Services, Inc. nor any of its affiliates nor any of their respective officers, employees or other representatives is exercising any discretionary authority or discretionary control respecting management of Seller's assets, or exercising any authority or control respecting management or disposition of Seller's assets, or otherwise acting as a fiduciary (within the meaning of Section 3(21) of the Employee Retirement Income Security Act of 1974, as amended, or Section 2510.3-21 of the Regulations promulgated by the United States Department of Labor) with respect to Seller or Seller's assets. Without limiting the foregoing, Seller further acknowledges and agrees that neither Ameriprise Financial Services, Inc. nor any of its affiliates nor any of their respective officers, employees or other representatives has provided any "investment advice" within the meaning of such provisions, and that no views expressed by any such person will serve as a primary basis for investment decisions with respect to Seller's assets.

F. Agreement to Arbitrate

By reading and accepting the terms of this Agreement, you acknowledge that, in accordance with the Arbitration section, you agree in advance to arbitrate any controversies, which may arise with Ameriprise Financial Services, Inc.  You agree that all controversies that may arise between us (including, but not limited to the brokerage account and any service or advice provided by a broker or representative), whether arising before, on or after the date this agreement is signed shall be determined by arbitration in accordance with the rules then prevailing of the Financial Industry Regulatory Authority. If you do not notify us in writing by registered mail addressed to us at our main office of your designation within five (5) days after making a demand for arbitration or receiving from us a written demand for arbitration, then you authorize us to make such designation on your behalf. You understand that judgment upon any arbitration award may be entered in any court of competent jurisdiction. You are aware of the following:

(a) Arbitration is final and binding on the parties.

(b) The parties are waiving their rights to seek remedies in court, including the right to a jury trial.

(c)  Pre-arbitration discovery is generally more limited than and different from court proceedings.

(d) The arbitrator's award is not required to include factual findings or legal reasoning, and any party's right to appeal or seek modification of rulings by the arbitrators is strictly limited.

(e) The panel of arbitrators will typically include a minority of arbitrators who were or are affiliated 

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with the securities industry. No person shall bring putative or certified class action to arbitration nor seek to enforce any pre-dispute arbitration agreement against any person who has initiated in court a putative class action; or who is a member of a putative class who has not opted out of the class with respect to any claims encompassed by the putative class action until: (a) the class certification is denied;(b) the class is decertified; or (c) the customer is excluded from the class by the court. Such forbearance to enforce an agreement to arbitrate shall not constitute a waiver of any rights under this agreement except to the extent stated herein.

G. General

1. Proceeds from each sale of Stock effected under the Sales Plan will be delivered to Seller's account (specify account) on a normal three-day settlement basis less any commission, commission equivalent, mark-up or differential and other expenses of sale to be paid to Ameriprise Financial Services, Inc.

2.   In the event that it is necessary for Ameriprise Financial Services, Inc. to borrow or purchase shares of Stock in order to complete any sale on behalf of Seller pursuant to this Sales Plan, Seller authorizes Ameriprise Financial Services, Inc. to borrow or purchase such shares and agrees to be responsible for any expense or loss which Ameriprise Financial Services, Inc. may sustain relating to such borrowing or purchase, including any expense or loss Ameriprise Financial Services, Inc. may sustain as a result of its inability to borrow or purchase shares of the Stock to complete its delivery obligation.

3.   Seller and Ameriprise Financial Services, Inc. acknowledge and agree that this Sales Plan is a "securities contract," as such term is defined in Section 741(7) of Title 11 of the United States Code (the "Bankruptcy Code"), entitled to all of the protections given such contracts under the Bankruptcy Code.

4.  This Sales Plan constitutes the entire agreement between the parties with respect to this Sales Plan and supercedes any prior agreements or understandings with regard to the Sales Plan.

5.  All notices to Ameriprise Financial Services, Inc. under this Sales Plan shall be given to Ameriprise Financial Services, Inc. in the manner specified by this Sales Plan by telephone at 1 (800) 555-9826, by facsimile at (612) 671-6023 or by overnight mail to the address below:

Ameriprise Financial Services, Inc. 1350 Ameriprise Financial Center Minneapolis, MN 55474 Attn: ESO Department

6.   Seller's rights and obligations under this Sales Plan may not be assigned or delegated without the written permission of Ameriprise Financial Services, Inc.

7.   This Sales Plan may be signed in any number of counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument.

8.   If any provision of this Sales Plan is or becomes inconsistent with any applicable present or future law, rule or regulation, that provision will be deemed modified or, if necessary, rescinded in order to comply with the relevant law, rule or regulation. All other provisions of this Sales Plan will continue and remain in full force and effect.

9. This Sales Plan shall be governed by and construed in accordance with the internal laws of the State of Minnesota and may be modified or amended only by a writing signed by the parties hereto.

10. You understand that Ameriprise Financial Services, Inc. may use and combine information concerning accounts owned by members of a household to provide them with a single paper copy of shareholder documents. Prospectuses, supplements, annual reports, semiannual reports and proxies may be included. Under this, household is defined as two or more shareholders who share the same address and either share the same last name or have indicated that they are married or domestic partners. This remains in effect unless notified otherwise. You understand that if you wish to continue receiving multiple copies of prospectuses, supplements, annual reports, semiannual reports and proxies, you can call (866) 

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273-7429 and reference the client number found on your statement. Multiple mailings will resume within 30 days of the request.

NOTICE: THIS AGREEMENT CONTAINS A PRE-DISPUTE ARBITRATION CLAUSE IN PARAGRAPH F, page 4, Agreement to Arbitrate.

IN WITNESS WHEREOF, the undersigned have signed this Sales Plan as of the date first written above. 

Seller Name:  James R. Musick

Seller Title:  President and CEO

/s/ James R. Musick,  Dated August 12, 2009

Ameriprise Financial Services, Inc.

Financial Advisor Name: Whitney W. Grimm

Title:  Financial Advisor

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ISSUER REPRESENTATION (Exhibit A)

1.   Vitro  Diagnostics, Inc. (the "Issuer") represents that it has approved the Sales Plan dated   August 17, 2009 (the "Sales Plan") between   James   R  Musick ("Seller") and Ameriprise Financial Services, Inc. relating to the common stock of Vitro Diagnostics, Inc. the Issuer (the "Stock").

2.  The sales to be made by Ameriprise Financial Services, Inc. for the account of Seller pursuant to the Sales Plan will not violate the Issuer's insider trading policies, and to the best of the Issuer's knowledge there are no legal, contractual or regulatory restrictions applicable to Seller or Seller's affiliates as of the date of this representation that would prohibit Seller from entering into the Sales Plan or prohibit any sale pursuant to the Sales Plan.

3.  If, at any time during the Plan Sales Period, a legal, contractual or regulatory restriction that is applicable to Seller or Seller's affiliates, including, without limitation, any restriction related to a merger or acquisition accounted for as a "pooling of interests" or a stock offering requiring an affiliate lock-up, would prohibit any sale pursuant to the Sales Plan (other than any such restriction relating to Seller's possession or alleged possession of material nonpublic information about the Issuer or its securities), the Issuer agrees to give Ameriprise Financial Services, Inc. notice of such restriction by telephone or facsimile as soon as practicable. Such notice shall be made at telephone number 1 (800) 555-9826 or facsimile number (612) 671-6023 and shall indicate the anticipated duration of the restriction, but shall not include any other information about the nature of the restriction or its applicability to Seller or otherwise communicate any material nonpublic information about the Issuer or its securities to Ameriprise Financial Services, Inc.

4.  To avoid delays in connection with transfers of stock certificates and settlement of transactions under the Sales Plan, and in acknowledgment of Ameriprise Financial Services, Inc.'s agreement in paragraph B.1 1 of the Sales Plan that sales of Stock under the Sales Plan will be effected in compliance with Rule 144 of the Securities Act of 1933, as amended, and Ameriprise Financial Services, Inc. agreement in paragraph C.5 of the Sales Plan to return any unsold shares to the Issuer's transfer agent for relegending to the extent such shares would then be subject to transfer restrictions in the hands of the Seller, the Issuer agrees that it will, immediately upon Seller's directing delivery of Stock into an account at Ameriprise Financial Services, Inc. in the name of and for the benefit of Seller, instruct its transfer agent to process the transfer of shares and issue a new certificate to Seller that does not bear any legend or statement restricting its transferability to a buyer.

5.   The Issuer acknowledges that Seller has authorized Ameriprise Financial Services, Inc. to serve as Seller's agent and attorney-in-fact to exercise certain options to purchase the Stock from time to time pursuant to the Sales Plan. The Issuer agrees to accept, acknowledge and effect the exercise of such options by Ameriprise Financial Services, Inc. and the delivery of the underlying Stock to Ameriprise Financial Services, Inc. (free of any legend or statement restricting its transferability to a buyer) upon receipt of a completed Stock Option Cashless Exercise Form in the form attached to the Sales Plan as Exhibit C. Authorized Officer Name

James R.  Musick

Authorized Officer Title

President and CEO

/s/ James R Musick,  Dated August 12, 2009

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EXHIBIT B

RULE 144 SELLER'S LETTER

August 12, 2009

Ameriprise Financial Services, Inc.

c/o American Enterprise Investment Services, Inc.

P.O. Box 9446

Minneapolis, MN 55440

Gentlemen or Madame:

In connection with the proposed sell by me of   170000 shares of common stock of Vitro   Diagnostics,   Inc, under Rule 144 of the Securities Act of 1933, I hereby represent to you that:

1.  I have not made, and will not make any payment in connection with the execution of the above order to any persons other than Ameriprise Financial Services, Inc.

2.  I have not solicited or arranged for the solicitation of orders to buy in anticipation of or in connection with this transaction.

3.  I have not sold any shares of the Company within the preceding three (3) months, and I have no sell orders open with any other broker, and will not place any pending execution or cancellation of this order.

4.  To the best of my knowledge, members of my immediate family and others with whom I am acting in concert or am closely associated have not sold shares of the Company stock within the preceding three (3) months.

5.  I have not had a short position in or any put or other option to dispose of any securities of the Company within the preceding twenty-four (24) months.

6.  In the event that any or all of the securities I am selling are restricted as defined in paragraph (a) (3) of the Rule 144,1 warrant that I have beneficially owned these securities for a period of a least one (1) year as computed in accordance with paragraph (d) of Rule 144.

7. Enclosed is an executed copy of Form 144, three copies of which were transmitted to the Securities and Exchange Commission and (where applicable) one copy of which was sent to the OTC.BB Stock Exchange on August 17, 2009. (I understand that no form need to be filed if the amount of the securities to be sold during any three (3) month period does not exceed 500 shares and the aggregate does not exceed $10,000 worth of securities.)    

I am familiar with Rule 144 of the Securities and Exchange Commission and agree that you may rely upon the above statements in executing the order referred to above.

Sincerely,

James R.  Musick

/s/ James R Musick

 

 

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