Document:

Exhibit 4.1

 

EXECUTION
VERSION

 

AMENDMENT NO. 1 TO RIGHTS AGREEMENT

 

AMENDMENT NO. 1 TO RIGHTS
AGREEMENT, dated as of August 31, 2005 (this “Rights Agreement
Amendment”), between Haggar Corp., a Nevada corporation (the “Company”),
and Mellon Investor Services LLC, as Rights Agent (the “Rights Agent”).

 

WHEREAS,
the Company and the Rights Agent are parties to a Rights Agreement, dated as of
October 10, 2002 (the “Rights Agreement”); and

 

WHEREAS,
concurrently herewith, the Company, Texas Clothing Holding Corp., a Delaware
corporation (“Parent”), and Nevada Clothing Acquisition Corp., a Nevada
corporation (“Merger Sub”), are entering into an Agreement and Plan of
Merger of even date herewith (the “Merger Agreement”), pursuant to which
Merger Sub will merge with and into the Company (the “Merger”); and

 

WHEREAS,
the Distribution Date (as defined in the Rights Agreement) has not occurred;
and

 

WHEREAS,
Parent and Merger Sub are entering into the Merger Agreement in reliance on and
in consideration of the terms of this Rights Agreement Amendment; and

 

WHEREAS,
pursuant to Sections 27 and 29 of the Rights Agreement, the Board of Directors
of the Company has determined that an amendment to the Rights Agreement as set
forth herein is necessary and desirable in connection with the foregoing, and
the Company and the Rights Agent desire to evidence such amendment in writing.

 

NOW,
THEREFORE, in consideration of the mutual covenants and agreements
herein contained and other good and valuable consideration, and intending to be
legally bound hereby, the Company hereby amends the Rights Agreement as
follows:

 

1.                                      Amendment
of Section 1(a).  Section 1(a) of
the Rights Agreement is amended to add the following sentence at the end
thereof:

 

“Notwithstanding anything in this Agreement to the contrary, neither
Parent nor Merger Sub shall be deemed to be an Acquiring Person solely by
virtue of (i) the execution, delivery or performance of the Merger
Agreement, (ii) the consummation of the Merger or (iii) the execution
of the Stock Voting Agreements.”

 

2.                                      Amendment
of Section 1(l).  Section 1(l)
of the Rights Agreement is amended to add the following sentence at the end
thereof:

 

“The Merger shall be deemed a Complying Offer for all purposes herein.”

 

3.                                      Amendment
of Section 1(ii).  Section 1(ii) of
the Rights Agreement is amended to add the following sentence at the end
thereof:

 

“Notwithstanding anything in this Agreement to the contrary, a Section 11(a)(ii) Event
shall not be deemed to have occurred solely as the result of (i) the execution,
delivery

 

 

or performance of the Merger Agreement, (ii) the
consummation of the Merger or (iii) the execution of the Stock Voting
Agreements.”

 

4.                                      Amendment
of Section 1(kk).  Section 1(kk)
of the Rights Agreement is amended to add the following sentence at the end
thereof:

 

“Notwithstanding anything in this Agreement to the contrary, a Section 13
Event shall not be deemed to have occurred solely as the result of (i) the
execution, delivery or performance of the Merger Agreement, (ii) the
consummation of the Merger or (iii) the execution of the Stock Voting
Agreements.”

 

5.                                      Amendment
of Section 1(mm).  Section 1(mm)
of the Rights Agreement is amended to add the following sentence at the end
thereof:

 

“Notwithstanding anything in this Agreement to the contrary, a Stock
Acquisition Date shall not be deemed to have occurred solely as the result of (i) the
execution, delivery or performance of the Merger Agreement, (ii) the
consummation of the Merger or (iii) the execution of the Stock Voting
Agreements.”

 

6.                                      Amendment
of Section 1.  Section 1 of
the Rights Agreement is amended to add the following at the end thereof:

 

(ss)         “Merger” shall mean the merger of the Company and Merger Sub
pursuant to the Merger Agreement.

 

(tt)           “Merger Agreement” shall mean that certain Agreement and Plan
of Merger, dated as of August 31, 2005, by and among the Company, Parent
and Merger Sub.

 

(uu)         “Merger Sub” shall mean Nevada Clothing Acquisition Corp., a
Nevada corporation.

 

(vv)         “Parent” shall mean Texas Clothing Holding Corp., a Delaware
corporation.

 

(ww)       “Stock Voting
Agreement” shall mean the separate voting agreements, dated as of August 31,
2005, entered into with Parent by certain of the officers and directors of the
Company in connection with the Merger.

 

7.                                      Amendment
of Section 3(a).  Section 3(a) of
the Rights Agreement is amended to add the following sentence at the end
thereof:

 

“Notwithstanding anything in this Agreement to the contrary, a
Distribution Date shall not be deemed to have occurred solely as the result of (i) the
execution, delivery or performance of the Merger Agreement, (ii) the
consummation of the Merger or (iii) the execution of the Stock Voting
Agreements.”

 

2

 

8.                                      Amendment
of Section 13.  Section 13
of the Rights Agreement is amended to add the following sentence at the end
thereof:

 

“The provisions of this Section 13 shall not apply to (i) the
execution, delivery or performance of the Merger Agreement, (ii) the
consummation of the Merger or (iii) the execution of the Stock Voting
Agreements.”

 

9.                                      Addition
of Section 35.  The Rights
Agreement is amended to add the following Section 35 to the Rights
Agreement:

 

“Section 35.     Termination.  Immediately prior to the effective time of
the Merger, (i) this Agreement shall be terminated and be without any
further force or effect, (ii) none of the parties to this Agreement will
have any rights, obligations or liabilities hereunder, (iii) the Rights
shall expire and become null and void and (iv) the holders of the Rights
shall not be entitled to any benefits, rights or other interests under this
Agreement, including without limitation the right to purchase or otherwise
acquire shares of the Common Stock or any other securities of the Company.”

 

10.                               Effectiveness.  This Rights Agreement Amendment shall be
deemed effective as of the date first written above.  Except as amended hereby, the Rights
Agreement shall remain in full force and effect and shall be otherwise
unaffected hereby.

 

11.                               Severability.  If any term, provision, covenant or
restriction of this Rights Agreement Amendment is held by a court of competent
jurisdiction or other authority to be invalid, void or unenforceable, the
remainder of the terms, provisions, covenants and restrictions of this Rights
Agreement Amendment shall remain in full force and effect and shall in no way
be affected, impaired or invalidated.

 

12.                               Governing
Law.  This Rights Agreement Amendment
shall be deemed to be a contract made under the laws of the State of Nevada and
for all purposes shall be governed by and construed in accordance with the laws
of such State applicable to contracts made and to be performed entirely within
Nevada.

 

13.                               Counterparts.  This Rights Agreement Amendment may be
executed in any number of counterparts, each of such counterparts shall for all
purposes be deemed to be an original, and all such counterparts shall together
constitute but one and the same instrument.

 

[Remainder of page is intentionally blank.]

 

3

 

IN WITNESS WHEREOF,
the parties hereto have caused this Rights Agreement Amendment to be duly
executed by their respective authorized officers, all as of the day and year
first above written.

 

	
   

  	
  HAGGAR CORP.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Frank D. Bracken

  	
   

  
	
   

  	
  Name:

  	
  Frank D. Bracken

  
	
   

  	
  Title:

  	
  President

  
	
   

  	
   

  	
   

  
	
   

  	
  MELLON INVESTOR SERVICES LLC

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Joan B. Martin

  	
   

  
	
   

  	
  Name:

  	
  Joan B. Martin

  
	
   

  	
  Title:

  	
  Assistant Vice President &

  
	
   

  	
   

  	
  Client Relationship Executive

  
					

 

[SIGNATURE PAGE TO RIGHTS
AGREEMENT AMENDMENT]Exhibit 10.1

 

MEDQUEST,
INC.

4300 North Point Parkway

Alpharetta, Georgia 30022

 

as
of August 31, 2005

 

Wachovia Bank, National Association

One Wachovia Center, 5th Floor

301 S. College Street, NC 0537

Charlotte, North Carolina 28288-0537

Attn: C. Mark Hedrick, Director

 

Letter
Agreement

 

Dear Mr. Hedrick:

 

This letter agreement (the “August 31
Letter Agreement”) makes reference to that certain Letter Agreement - Third
Waiver dated as of August 13, 2005 (the “August 13 Letter
Agreement”) among Holdings, the Borrower, the Lenders party thereto and the
Administrative Agent. Capitalized terms used herein without definition shall
have the meanings given to them in the August 13 Letter Agreement.

 

Pursuant to the terms of the August 13
Letter Agreement, the date certain by when the Waiver Period of the Third
Waiver expires was extended through August 31, 2005. Upon execution and
delivery of this August 31 Letter Agreement by the Administrative Agent,
the Administrative Agent (with the prior consent of the Required Lenders)
agrees that the proviso to Section 1 of the Third Amendment shall be
amended by deleting the date “August 31, 2005” and inserting “5:00 p.m.
Charlotte, North Carolina time on September 7, 2005” in lieu thereof.

 

Holdings and the Borrower hereby represent
and warrant to the Administrative Agent and the Lenders that: (a) certain
of the Equity Investors (as defined in the press release (the “Press Release”)
attached as an exhibit to the Current Report on Form 8-K filed by Holdings
with the SEC on July 29, 2005 (the “Form 8-K”)) have
represented to Holdings that they intend to make the Additional Equity
Investment (as defined in the Press Release) upon satisfaction of the
conditions to the consent solicitations referred to in the Press Release; and (b) neither
the Borrower nor Holdings has any knowledge of any fact or condition that would
terminate or materially modify the intent of the Equity Investors to make the
Additional Equity Investment as described in the foregoing clause (a).

 

1

 

Furthermore, Holdings and the Borrower hereby agree
that, if Holdings or the Borrower requests an extension of the waiver period
beyond September 7, 2005, and such extension is granted, the Borrower
shall pay a fee to the Administrative Agent for the respective account of each
Lender (pro  rata in accordance with such Lender’s portion of the
total Commitments) in an aggregate amount equal to 0.10% of the total
Commitments in effect as of 12:00 p.m. Charlotte, North Carolina time on September 6,
2005.

 

This August 31 Letter Agreement shall be
construed in accordance with the laws (without regard to the conflict of laws
provisions) of the State of New York, but giving effect to federal laws
applicable to national banks.

 

This August 31 Letter Agreement may be executed
by one or more of the parties on any number of separate counterparts, and all
of said counterparts taken together shall be deemed to constitute one and the
same instrument. Delivery of an executed signature page of this August 31
Letter Agreement by facsimile transmission shall be effective as delivery of a
manually executed counterpart hereof.

 

[Remainder
of page left blank intentionally]

 

2

 

	
   

  	
  Very truly yours,

  
	
   

  	
   

  
	
   

  	
  MEDQUEST, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ John Haggerty

  	
   

  
	
   

  	
  Name:

  	
  John Haggerty

  
	
   

  	
  Title:

  	
  Chief Financial Officer

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  MQ ASSOCIATES, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ John Haggerty

  	
   

  
	
   

  	
  Name:

  	
  John Haggerty

  
	
   

  	
  Title:

  	
  Chief Financial Officer

  
	
   

  	
   

  
	
   

  	
   

  
	
  ACCEPTED AND

  	
   

  
	
  AGREED TO BY:

  	
   

  
	
   

  	
   

  
	
  WACHOVIA BANK, NATIONAL

  	
   

  
	
  ASSOCIATION, as
  Administrative Agent

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
  /s/ C. Mark Hedrick

  	
   

  	
   

  
	
  Name: 

  	
  C. Mark Hedrick

  	
   

  
	
  Title: 

  	
  Director

  	
   

  
								

 

Signature Page to
August 31 Letter Agreement

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