Document:

Exhibit 4.2

Exhibit 4.2

FIRST AMENDMENT

TO

RIGHTS AGREEMENT

THIS
FIRST AMENDMENT TO RIGHTS AGREEMENT, dated as of May 25, 2011 (this “Amendment”) is
between Retail Ventures, Inc., an Ohio corporation (the “Company”) and Computershare Trust Company,
N.A., a federally chartered trust company, as rights agent (the “Rights Agent”). All capitalized
terms used herein and not otherwise defined shall have the respective meaning assigned to such
terms in the Rights Agreement, dated as of February 8, 2011, by and between the Company and the
Rights Agent (the “Rights Agreement”).

W I T N E S S E T H:

WHEREAS, on February 8, 2011, the Company and the Rights Agent entered into that certain
Rights Agreement;

WHEREAS, (i) the Company desires to amend the Rights Agreement pursuant to Section 27 thereof,
and (ii) pursuant to the terms of Section 27 of the Rights Agreement, prior to the Distribution
Date, the Company and the Rights Agent may, if the Company so directs, supplement or amend any
provision of the Rights Agreement without the approval of any holders of shares of Common Stock;

WHEREAS, upon the delivery of a certificate from an appropriate officer of the Company which
states that a proposed supplement or amendment to the Rights Agreement is in compliance with the
terms of Section 27 thereof, the Rights Agent shall execute such supplement or amendment, provided
that such supplement or amendment does not adversely affect the rights, duties or obligations of
the Rights Agent thereunder;

WHEREAS, the Distribution Date has not yet occurred, the Company has met all requirements for
amendment of the Rights Agreement, and the amendment contemplated by this Amendment does not amend
the Rights Agreement in a manner adverse to the Rights Agent; and

WHEREAS, at a meeting held on May 19, 2011, the Board of Directors of the Company approved
this Amendment.

NOW, THEREFORE, in consideration of the premises and of the mutual agreements set forth in the
Rights Agreement and this Amendment, the parties hereto agree as follows:

Section 1. Amendments. The Rights Agreement is hereby amended as follows:

(a) Clause (i) of Section 7(a) is deleted in its entirety and replaced with the following:

	 	 	(i) 5:00 P.M., New York City time, on May 26, 2011, or such earlier or later
date as may be established by the Board of Directors prior to the expiration
of the Rights (such date, as it may be advanced or extended by the Board of
Directors, the “Final Expiration Date”), or

 

 

(b) Exhibits A and B to the Rights Agreement entitled “Form of Rights Certificate” and
“Summary of Rights to Purchase Common Stock,” respectively, are hereby amended to replace the words
“September 15, 2011” with the words “May 26, 2011” in all places where such words appear.

Section 2. Officer’s Certification. The undersigned officer of the Company does
hereby certify to the Rights Agent that this Amendment complies with the terms of Section 27 of the
Rights Agreement.

Section 3. No Other Changes. Except as expressly provided in this Amendment, all of
the terms and provisions of the Rights Agreement shall remain unchanged and in full force and
effect.

Section 4. Counterparts. This Amendment may be executed in any number of counterparts
and each of such counterparts shall for all purposes be deemed to be an original, and all such
counterparts shall together constitute one and the same instrument.

Section 5. Governing Law. This Amendment shall be deemed to be a contract made under
the laws of the State of Ohio and for all purposes shall be governed by and construed in accordance
with the laws of such state applicable to contracts to be made and performed entirely within such
state.

Section 6. Severability. If any term, provision, covenant or restriction of this
Amendment is held by a court of competent jurisdiction or other authority to be invalid, illegal or
unenforceable, the remainder of the terms, provisions, covenants and restrictions of this Amendment
shall remain in full force and effect and shall in no way be affected, impaired or invalidated.

Section 7. Descriptive Headings. The captions herein are included for convenience of
reference only, do not constitute a part of this Amendment and shall be ignored in the construction
and interpretation hereof.

[Signature Page Follows]

 

2

 

IN WITNESS WHEREOF, the undersigned has caused this Amendment to be
duly executed as of the day and year first above written.

	 	 	 	 	 
	 	RETAIL VENTURES, INC.

 	 
	 	By:  	/s/ James A. McGrady
 	 
	 	 	Name:  	James A. McGrady 	 
	 	 	Title:  	Chief Executive Officer,

Chief Financial Officer,

President and Treasurer 	 
	 
	 	COMPUTERSHARE TRUST COMPANY, N.A.,
 as Rights Agent

 	 
	 	By:  	/s/ Dennis V. Moccia
 	 
	 	 	Name:  	Dennis V. Moccia 	 
	 	 	Title:  	Manager, Contract Administration 	 

[Signature Page to First Amendment to Rights Agreement]Exhibit 4.4

Exhibit 4.4

SUPPLEMENTAL INDENTURE

Dated as of May 25, 2011

among

RETAIL VENTURES, INC.,

DSW MS LLC

and

HSBC Bank USA, National Association, as Indenture Trustee

 

 

 

SUPPLEMENTAL INDENTURE, dated as of May 25, 2011 (this “Supplemental Indenture”), among Retail
Ventures, Inc., an Ohio corporation (the “Initial Issuer”), DSW MS LLC, an Ohio limited liability
company (the “Successor”), and HSBC Bank USA, National Association, a national banking association,
acting as indenture trustee (the “Indenture Trustee”). Capitalized terms used and not otherwise
defined in this Supplemental Indenture shall have the meanings ascribed to such terms in the
Indenture.

RECITALS

WHEREAS, the Initial Issuer and the Indenture Trustee entered into the Indenture, dated as of
August 16, 2006 (the “Indenture”), providing, among other things, for the issuance of the Initial
Issuer’s 6.625% Mandatorily Exchangeable Notes due September 15, 2011, or PIES (Premium Income
Exchangeable SecuritiesSM) (the “Notes”);

WHEREAS, the Initial Issuer, DSW Inc., an Ohio Corporation (“DSW”), and the Successor have
executed definitive documentation, that provides for the merger of the Initial Issuer with and into
the Successor (the “Merger”), in accordance with the applicable provisions of the Ohio General
Corporation Law (the “OGCL”) and the Ohio Limited Liability Company Law (the “OLLCL”);

WHEREAS, the Merger shall become effective upon the filing of a Certificate of Merger with the
Secretary of State of the State of Ohio or at such time thereafter as is agreed upon in writing by
DSW and the Initial Issuer and provided for in the Certificate of Merger (the “Merger Effective
Time”);

WHEREAS, at the Merger Effective Time, the Initial Issuer shall be merged with and into the
Successor and the separate existence of the Initial Issuer shall cease and the Successor shall
continue as the surviving entity in the Merger;

WHEREAS, Section 8.01 of the Indenture provides that the Initial Issuer and the Indenture
Trustee may, without the consent of the Holders of the Notes, enter into a supplemental indenture
for the purpose of evidencing the succession of another Person to the Initial Issuer’s obligations
under the Indenture;

WHEREAS, Section 9.01 of the Indenture provides, among other things, that the Initial Issuer
may merge with or into any other Person if (i) the successor entity (if other than the Initial
Issuer) is a corporation or limited liability company organized and validly existing under the laws
of the United States of America, any state of the United States of America or the District of
Columbia and, upon any such merger, expressly assumes all of the Initial Issuer’s obligations under
the Notes, the Indenture and the Collateral Agreement by supplemental indenture in a form
satisfactory to the Indenture Trustee; (ii) immediately after giving effect to the merger, no
default or Event of Default has occurred or is continuing under the Notes, the Indenture or the
Collateral Agreement, as applicable; and (iii) the Initial Issuer shall have delivered to the
Indenture Trustee an Officers’ Certificate and an Opinion of Counsel;

WHEREAS, Section 10(a)(i) of the Collateral Agreement provides that the Initial Issuer, the
Collateral Agent, the Indenture Trustee and the Securities Intermediary may, without the consent of
the Holders, amend the Collateral Agreement to evidence the succession of another Person to the
Initial Issuer and the assumption by any such successor of the covenants of the Initial Issuer;

 

 

 

WHEREAS, the Merger will comply with the aforementioned requirements of Section 9.01 of the
Indenture, and all documentation required under the Indenture to be delivered to the Indenture
Trustee in connection with the Merger and this Supplemental Indenture has been so delivered;

WHEREAS, each of the Initial Issuer, the Successor and the Indenture Trustee have been duly
authorized to enter into this Supplemental Indenture to evidence the Successor’s succession to the
Initial Issuer’s obligations under the Indenture; and

WHEREAS, all acts, conditions precedent and requirements necessary to make this Supplemental
Indenture a valid, binding and legal agreement enforceable in accordance with its terms for the
purposes expressed herein, have been duly done and performed.

NOW, THEREFORE, THIS SUPPLEMENTAL INDENTURE WITNESSETH:

For and in consideration of the premises and the covenants and agreements contained herein,
and for other good and valuable consideration the receipt of which is hereby acknowledged, the
Initial Issuer, the Successor and the Indenture Trustee hereby agree as follows:

ARTICLE I

REPRESENTATIONS AND WARRANTIES

Section 1.01. The Successor represents and warrants to the Indenture Trustee as follows:

	 	(i)	 	It is duly organized, validly existing and in good
standing under the laws of the State of Ohio; and

	 	(ii)	 	The execution, delivery and performance by it of this
Supplemental Indenture have been authorized and approved by all necessary
limited liability company action.

Section 1.02. Each of the Initial Issuer and the Successor represents and warrants to the
Indenture Trustee that the Merger shall become effective at the Merger Effective Time, and the
Successor shall, in accordance with the OGCL and the OLLCL, possess (i) all assets and property of
every description of the Initial Issuer and every interest in the assets and property of the
Initial Issuer, wherever the assets, property, and interests are located; (ii) the rights,
privileges, immunities, powers, franchises, and authority, whether of a public or a private nature,
of the Initial Issuer; and (iii) all obligations belonging or due to the Initial Issuer.

 

 

 

ARTICLE II

ASSUMPTION AND AGREEMENT OF THE SUCCESSOR

Section 2.01. In accordance with Sections 8.01 and 9.01 of the Indenture, effective as of the
Merger Effective Time, the Successor hereby expressly assumes all the obligations of the Initial
Issuer under the Notes, the Indenture and the Collateral Agreement.

Section 2.02. In accordance with Section 9.02 of the Indenture, effective as of the Merger
Effective Time, the Successor shall succeed to, and be substituted for, and may exercise every
right and power of, the Issuer under the Indenture and the Notes with the same effect as if the
Successor had been named as “Issuer” in the Indenture and the Notes.

ARTICLE III

MISCELLANEOUS

Section 3.01. This Supplemental Indenture shall become effective as of the Merger Effective
Time.

Section 3.02. Except as expressly amended hereby, the Indenture and the Notes are in all
respects ratified and confirmed, and all the terms, conditions and provisions thereof shall remain
in full force and effect. This Supplemental Indenture shall form a part of the Indenture for all
purposes, and every Holder of Notes heretofore or hereafter authenticated shall be bound hereby.

Section 3.03. This Supplemental Indenture shall be governed by, and construed in accordance
with, the laws of the State of New York.

Section 3.04. In case any provision in this Supplemental Indenture shall be invalid, illegal
or unenforceable, the validity, legality and enforceability of the remaining provisions hereof and
thereof shall not in any way be affected or impaired thereby.

Section 3.05. This Supplemental Indenture may be executed in any number of counterparts by the
parties hereto on separate counterparts, each of which, when so executed and delivered, shall be
deemed an original, but all such counterparts shall together constitute one and the same
instrument.

Section 3.06. The Article and Section headings herein are for convenience only and shall not
affect the construction hereof.

Section 3.07. The Indenture Trustee shall not be responsible in any manner whatsoever for or
in respect of the validity or sufficiency of this Supplemental Indenture or for or in respect of
the recitals contained herein, all of which recitals are made solely by the Initial Issuer and the
Successor.

[Signature page follows]

 

 

 

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

	 	 	 	 	 
	 	RETAIL VENTURES, INC.

 	 
	 	By:  	/s/ James A. McGrady
 	 
	 	 	Name:  	James A. McGrady 	 
	 	 	Title:  	Chief Executive Officer,

Chief Financial Officer,

President and Treasurer 	 
	 
	 	DSW MS LLC

 	 
	 	By:  	/s/ William L. Jordan
 	 
	 	 	Name:  	William L. Jordan 	 
	 	 	Title:  	Executive Vice President,

General Counsel and Secretary 	 
	 
	 	HSBC BANK USA, NATIONAL ASSOCIATION, as

Indenture Trustee

 	 
	 	By:  	/s/ Ignazio Tamburello
 	 
	 	 	Name:  	Ignazio Tamburello 	 
	 	 	Title:  	Vice President

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