Document:

First Amendment to Third Amended and Restated Credit and Security Agreement

 Exhibit 4.1 

EXECUTION COPY 

First Amendment to 

Third Amended and Restated Credit and Security Agreement 

This FIRST AMENDMENT (this “Amendment”) is entered into as of April 30, 2010 by and among: 

(1) ROCK-TENN FINANCIAL, INC., a Delaware corporation, as borrower (“Borrower”), 

(2) ROCK-TENN CONVERTING COMPANY, a Georgia corporation, as initial servicer (together with Borrower, the “Loan
Parties”), 
 (3) TORONTO DOMINION (NEW YORK) LLC, in its capacity as a Committed Lender and as
agent for itself and its assigns (“TD”), 
 (4) NIEUW AMSTERDAM RECEIVABLES CORPORATION
(“Nieuw Amsterdam”), and COÖPERATIEVE CENTRALE RAIFFEISEN-BOERENLEENBANK B.A., “RABOBANK NEDERLAND”, NEW YORK BRANCH, as a Liquidity Bank to Nieuw Amsterdam and as Nieuw Amsterdam Agent (the foregoing,
collectively, the “Nieuw Amsterdam Parties”), and 
 (5) COÖPERATIEVE CENTRALE
RAIFFEISEN-BOERENLEENBANK B.A., “RABOBANK NEDERLAND”, NEW YORK BRANCH, as Administrative Agent (the “Administrative Agent”), 

with respect to that certain Third Amended and Restated Credit and Security Agreement, dated as of August 14, 2009, by and among the Loan Parties,
TD, the Nieuw Amsterdam Parties and the Administrative Agent (as heretofore amended, the “Existing CSA” which, as amended hereby, is hereinafter referred to as the “CSA”). 

Unless otherwise indicated, capitalized terms used in this Amendment are used with the meanings attributed thereto in the Existing CSA.

 W I T N E S S E T H : 

WHEREAS, the parties hereto desire to amend certain provisions of the Existing CSA. 

NOW, THEREFORE, in consideration of the premises and the mutual agreements herein contained, the parties hereto hereby
agree as follows: 
 1. Amendments. 

1.1 Exhibit I of the Existing CSA is hereby amended by deleting the definition of “Applicable Percentage” in its
entirety and replacing it with the following: 
 ““Applicable Percentage” has the
meaning set forth in the Fee Letter.” 

 1.2 Exhibit I of the Existing CSA is hereby amended by inserting in its proper alphabetical
location a new definition of “Bank Credit Agreement” as follows: 
 ““Bank Credit
Agreement” means that Amended and Restated Credit Agreement, dated as of March 5, 2008, by and among Rock-Tenn Company, as a borrower, Rock-Tenn Company of Canada, as the Canadian borrower, certain subsidiaries of the borrower from
time to time party thereto, as guarantors, the lenders party thereto, Wachovia Bank, National Association, as administrative agent and collateral agent, and Bank of America, N.A., acting through its Canada Branch, as Canadian agent, as in effect on
April 30, 2010.” 
 1.3 Article VII of the Existing CSA is hereby amended by inserting at the end thereof as new
clauses (m) and (n), the following: 
 “(m) Amendment of Bank Credit Agreement. Borrower or Servicer shall
provide written notice to the Administrative Agent of any proposed amendment to the Bank Credit Agreement that would alter the definitions of “Applicable Percentage” or “Leverage Ratio” contained therein or that would alter in
any way the manner in which “Applicable Percentage” or “Leverage Ratio” are determined under the Bank Credit Agreement, in each case, not later than five Business Days prior to the effectiveness of any such amendment. 

(n) Notice of Leverage Ratio. On each Interest Determination Date (as defined in the Bank Credit Agreement), the Servicer shall
provide to the Administrative Agent written notice of the “Leverage Ratio” as calculated pursuant to the terms of the Bank Credit Agreement. 

2. Representations. 

2.1. Each of the Loan Parties represents and warrants to TD, the Nieuw Amsterdam Parties and the Administrative Agent that it has duly
authorized, executed and delivered this Amendment and that the Agreement constitutes, a legal, valid and binding obligation of such Loan Party, enforceable in accordance with its terms (except as enforceability may be limited by applicable
bankruptcy, insolvency, or similar laws affecting the enforcement of creditors’ rights generally or by equitable principles relating to enforceability). 

2.2. Each of the Loan Parties further represents and warrants to TD, the Nieuw Amsterdam Parties and the Administrative Agent that, as of
the date hereof and as of the Effective Date (as defined below), each of its representations and warranties set forth in Section 5.1 of the Existing CSA is true and correct as though made on and as of such date and that no event has occurred
and is continuing that will constitute an Amortization Event or Unmatured Amortization Event. 
 3. Conditions
Precedent. This Amendment shall become effective as of the date first above written (the “Effective Date”) upon satisfaction of the following conditions precedent: 

 

 2 

 3.1 the Administrative Agent shall have received a counterpart hereof duly executed by each
of the parties hereto and acknowledged by the Performance Guarantor in the space provided; and 
 3.2 the Administrative Agent
shall have received a counterpart of the Fee Letter duly executed by each of the parties thereto, together with payment of any fees due thereunder. 

4. Miscellaneous. 

4.1. Except as expressly amended hereby, the Existing CSA shall remain unaltered and in full force and effect, and each of the parties
hereto hereby ratifies and confirms the CSA and each of the other Transaction Documents (as defined in the CSA) to which it is a party. 

4.2. THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF GEORGIA WITHOUT REFERENCE
TO PRINCIPLES OF CONFLICTS OF LAW. 
 4.3. EACH OF THE PARTIES TO THIS AMENDMENT HEREBY ACKNOWLEDGES AND AGREES THAT:

 4.3.1. IT IRREVOCABLY SUBMITS TO THE NON-EXCLUSIVE JURISDICTION OF ANY UNITED STATES FEDERAL OR GEORGIA STATE COURT SITTING
IN FULTON COUNTY, GEORGIA, IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AMENDMENT OR ANY DOCUMENT EXECUTED BY SUCH PERSON PURSUANT TO THIS AMENDMENT, AND IT HEREBY IRREVOCABLY AGREES THAT ALL CLAIMS IN RESPECT OF SUCH ACTION OR
PROCEEDING MAY BE HEARD AND DETERMINED IN ANY SUCH COURT AND IRREVOCABLY WAIVES ANY OBJECTION IT MAY NOW OR HEREAFTER HAVE AS TO THE VENUE OF ANY SUCH SUIT, ACTION OR PROCEEDING BROUGHT IN SUCH A COURT OR THAT SUCH COURT IS AN INCONVENIENT FORUM.
NOTHING HEREIN SHALL LIMIT THE RIGHT OF ANY AGENT OR ANY LENDER TO BRING PROCEEDINGS AGAINST ANY OF PARENT, THE ORIGINATORS AND THE LOAN PARTIES IN THE COURTS OF ANY OTHER JURISDICTION. ANY JUDICIAL PROCEEDING BY ANY OF PARENT, THE ORIGINATORS AND
THE LOAN PARTIES AGAINST ANY AGENT OR ANY LENDER OR ANY AFFILIATE OF ANY AGENT OR ANY LENDER INVOLVING, DIRECTLY OR INDIRECTLY, ANY MATTER IN ANY WAY ARISING OUT OF, RELATED TO, OR CONNECTED WITH THIS AMENDMENT OR ANY DOCUMENT EXECUTED BY SUCH PARTY
PURSUANT TO THIS AGREEMENT SHALL BE BROUGHT ONLY IN A COURT IN FULTON COUNTY, GEORGIA. 
 4.3.2. TO THE EXTENT THAT IT HAS OR
HEREAFTER MAY ACQUIRE ANY IMMUNITY FROM THE JURISDICTION OF ANY COURT OR FROM ANY LEGAL PROCESS (WHETHER THROUGH SERVICE OR NOTICE, ATTACHMENT PRIOR TO JUDGMENT, ATTACHMENT IN AID TO EXECUTION, EXECUTION OR OTHERWISE) WITH RESPECT TO ITSELF OR ITS
PROPERTY, IT HEREBY IRREVOCABLY WAIVES SUCH IMMUNITY IN RESPECT OF ITS OBLIGATIONS UNDER OR IN CONNECTION WITH THE AGREEMENT. 
  

 3 

 4.4. This Amendment may be executed in any number of counterparts and by the different
parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which when taken together shall constitute one and the same Amendment 

4.5 The Borrower agrees to pay to the Administrative Agent’s counsel the reasonable fees and disbursements incurred by such counsel
in connection this Amendment and the Fee Letter not later than five (5) Business Days following receipt of the related invoice. 

<Balance of page intentionally left blank> 

 

 4 

 IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the
date first above written. 
  

					
	 ROCK-TENN CONVERTING COMPANY,

As Servicer

		
	By:	 	 /s/ John D. Stakel

		 	Name:	 	John D. Stakel
		 	Title:	 	Vice President and Treasurer
	
	 ROCK-TENN FINANCIAL, INC.,

As Borrower

		
	By:	 	 /s/ Chadwick T. Payne

		 	Name:	 	Chadwick T. Payne
		 	Title:	 	Treasurer
	
	NIEUW AMSTERDAM RECEIVABLES CORPORATION
		
	By:	 	 /s/ Damian A. Perez

		 	Name:	 	Damian A. Perez
		 	Title:	 	Vice President
	
	COÖPERATIEVE CENTRALE RAIFFEISEN-BOERENLEENBANK B.A., “RABOBANK NEDERLAND”, NEW YORK BRANCH, individually as a Liquidity Bank, as Nieuw Amsterdam Agent
and as Administrative Agent
		
	By:	 	 /s/ Stephen G. Adams

		 	Name:	 	Stephen G. Adams
		 	Title:	 	Executive Director
		
	By:	 	 /s/ Andrew Sherman

		 	Name:	 	Andrew Sherman
		 	Title:	 	Executive Director

  

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	 TORONTO DOMINION (NEW YORK) LLC,

As TD Agent and as a Committed Lender

		
	By:	 	 /s/ Robyn Zeller

		 	Name:	 	Robyn Zeller
		 	Title:	 	Vice President

  

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	Acknowledged and Agreed:
	
	 ROCK-TENN COMPANY,

As Performance Guarantor

		
	By:	 	 /s/ John D. Stakel

		 	Name:	 	John D. Stakel
		 	Title:	 	Vice President and Treasurer

  

 7Rock-Tenn Company 1993 Employee Stock Purchase Plan, as Amended and Restated

 Exhibit 10.1 

PROSPECTUS 
  

 
 THIS DOCUMENT CONSTITUTES PART
OF A PROSPECTUS COVERING SECURITIES 
 THAT HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 

 
  

ROCK-TENN COMPANY 
  

 
 4,320,000
SHARES 
 CLASS A COMMON STOCK 

(par value $.01 per share) 
  

 
 OFFERED
PURSUANT TO THE ROCK-TENN COMPANY 
 1993 EMPLOYEE STOCK PURCHASE PLAN 

 
  

This document contains information about the Rock-Tenn Company 1993 Employee Stock Purchase Plan, as amended and restated effective
July 1, 2010 (the “Purchase Plan”) and the Class A Common Stock, par value $.01 per share (the “Class A Common Stock”), of Rock-Tenn Company (the “Company”) to be offered to certain employees of the Company
and its subsidiaries under the terms of the Purchase Plan. The Class A Common Stock is traded on the New York Stock Exchange, under the Symbol “RKT.” 

 
  

THESE SECURITIES HAVE NOT BEEN APPROVED OR DISAPPROVED BY 

THE SECURITIES AND EXCHANGE COMMISSION OR ANY STATE 

SECURITIES COMMISSION NOR HAS THE SECURITIES 

AND EXCHANGE COMMISSION OR ANY STATE 

SECURITIES COMMISSION PASSED UPON 

THE ACCURACY OR ADEQUACY OF 

THIS PROSPECTUS. 
  

 
 The date of
this Document is July 1, 2010 

 No dealer, salesperson or other individual has been authorized to give any information or
to make any representations not contained in this document or delivered as described herein in connection with the offer of the Class A Common Stock pursuant to the Purchase Plan. If given or made, such information or representations must not
be relied upon as having been authorized by the Company. This document does not constitute an offer to sell, or a solicitation of an offer to buy, the Class A Common Stock in any jurisdiction where, or to any person to whom, it is unlawful to
make any such offer or solicitation. Additional updating information may be furnished to participants in the Purchase Plan from time to time by means of supplements to this document. 

 
  

TABLE OF CONTENTS 
  

			
	 Additional Information
	  	3
	 Introduction
	  	3
	 The Purchase Plan
	  	4
	 General Information
	  	4
	 Administration
	  	4
	 Eligibility And Enrollment
	  	4
	 Purchase Of Shares
	  	5
	 Purchase Price
	  	5
	 Termination And Transfer Of Participation
	  	5
	 Amendment And Termination Of Plan
	  	5
	 Federal Income Tax Consequences
	  	5
	 Restrictions On Resale
	  	6

  

 
 The Company is
subject to the informational requirements of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and in accordance therewith files reports, proxy statements and other information with the Securities and Exchange
Commission (the “Commission”). These reports, proxy statements and other information filed by the Company with the Commission can be inspected and copied at the Commission’s public reference room at 100 F Street, N.E., Washington,
D.C. 20549. Please call the Commission at 1-800-SEC-0330 for additional information on the public reference room. 
  

 
  

 2 

 ADDITIONAL INFORMATION 

This document is delivered pursuant to the requirements of the Securities Act of 1933, as amended (the “Securities Act”), and,
together with the documents described below, constitutes a prospectus within the meaning of Section 10(a) of the Securities Act. A registration statement under the Securities Act has been filed with the Commission with respect to the
Class A Common Stock offered hereby (the “Registration Statement”). As permitted by the rules and regulations of the Commission, this document omits certain information contained in the Registration Statement on file with the
Commission. 
 The following documents have been previously filed by the Company with the Commission, are incorporated by
reference into the Registration Statement as of their respective dates and, together with this document, constitute a prospectus meeting the requirements of Section 10(a) of the Securities Act: 

 

	 	(1)	Our Annual Report on Form 10-K for the fiscal year ended September 30, 2009; 

 

	 	(2)	The Annual Report on Form 11-K for the fiscal year ended September 30, 2009 with respect to the Rock-Tenn Company 1993 Employee Stock Purchase Plan, as amended and
restated effective January 26, 2007; 

  

	 	(3)	All reports filed (we expressly exclude those portions of all reports that were furnished and not filed in accordance with the Commission’s rules) by us pursuant
to Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended, (the “Exchange Act”), since September 30, 2009; and 

  

	 	(4)	The description of our Class A Common Stock, par value $.01 per share, which we refer to as the Class A Common Stock, contained in our registration statement
on Form 8-A filed on February 2, 1994, including any amendment or report filed for the purposes of updating such description. 

In addition, all documents filed by the Company pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act subsequent to the
date of the Registration Statement and prior to the filing of a post-effective amendment to the Registration Statement that indicates that all securities offered thereunder have been sold or that deregisters all securities then remaining unsold are
deemed to be incorporated by reference in the Registration Statement and to be a part thereof from the date of the filing of such documents. 

The Company will provide without charge to participants in the Purchase Plan, upon the written or oral request of any such person, a copy
of any or all of the documents incorporated by reference into the Registration Statement (not including the exhibits to such documents, unless such exhibits are specifically incorporated by reference in such documents). Requests for such copies
should be directed to: Rock-Tenn Company, 504 Thrasher Street, Norcross, Georgia 30071, Attention: Chief Financial Officer (telephone: (770) 448-2193). 

The Company will deliver copies of all reports, proxy statements and other communications distributed to the Company’s shareholders,
generally, to participants in the Purchase Plan who do not otherwise receive such materials no later than the time such materials are sent to shareholders. 

Concurrently with the delivery of this document, a copy of the Company’s Annual Reports on Form 10-K and 11-K for its most recent
fiscal year will be delivered to each participant in the Purchase Plan unless such participant has otherwise received a copy of the Annual Reports, in which case additional copies will be furnished promptly, without charge, upon the written or oral
request of such participant. 
 INTRODUCTION 

The Company is incorporated under the laws of the State of Georgia. The Company’s principal executive offices are located at 504
Thrasher Street, Norcross, Georgia 30071, and its telephone number is (770) 448-2193. This document relates to a maximum of 4,320,000 shares of Class A Common Stock that may be offered under the Purchase Plan. 

 

 3 

 THE PURCHASE PLAN 

The following discussion is a summary of the principal terms of the Purchase Plan. This discussion does not purport to be complete and is
qualified in its entirety by reference to the Purchase Plan, copies of which are available for examination at the Company’s principal executive offices. 

General Information 

The Purchase Plan was adopted and approved by the Board of Directors of the Company on November 29, 1993 for the purpose of
encouraging ownership of Class A Common Stock by eligible employees of the Company and its subsidiaries in the belief that such ownership will increase such employees’ interest in the success of the Company and will provide an additional
incentive for such employees to remain in the employ of the Company and its subsidiaries. The Purchase Plan was adopted and approved by the shareholders of the Company on December 14, 1993. The Purchase Plan is intended to qualify as an
“employee stock purchase plan” within the meaning of Section 423 of the Internal Revenue Code of 1986, as amended (the “Code”). 

Based upon an analysis of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and its legislative
history and the absence of any clarifying regulations relating to stock purchase plans of the type involved here, the Purchase Plan, in the opinion of the Company, is not subject to any provision of ERISA. In addition, the Purchase Plan is not
qualified under Section 401(a) of the Code. 
 Administration 

The Purchase Plan is administered by the Compensation Committee of the Board of Directors, which consists of directors of the Company who
are “disinterested” within the meaning of Rule 16b-3 under the Exchange Act. Members of the Compensation Committee are selected by the Board of Directors and serve until their respective successors are elected and qualified or until their
earlier resignation or removal. Acts approved by a majority of the members of the Compensation Committee at a meeting at which a quorum is present or acts approved in writing by a majority of the members of the Compensation Committee constitute the
valid acts of the Compensation Committee. 
 Directors are elected by the Company’s shareholders and serve until their
successors are elected and qualified. Directors are divided into three classes and serve staggered three-year terms. Under the Company’s Bylaws and Georgia law, directors may be removed only for cause and only at a shareholders meeting if the
votes cast in favor of removal exceed the votes cast against by the shares present and entitled to vote. 
 Additional
information about the Purchase Plan and the members of the Compensation Committee may be obtained from the Chief Financial Officer of the Company at the following address: Rock-Tenn Company, 504 Thrasher Street, Norcross, Georgia 30071 (telephone:
(770) 448-2193). 
 Eligibility and Enrollment 

To participate in the Purchase Plan, an employee generally must have been employed by the Company for 8-months or longer and, generally,
must be a regular employee (i.e., customarily is employed more than 20 hours per week and after completing at least 8-months of employment customarily is employed for more than 5-months in any calendar year). 

Eligible employees may enroll in the Purchase Plan during any one of four monthly offering periods during any calendar year. Under the
Purchase Plan, offering periods begin on the first day of each of October, January, April and July. An eligible employee may enroll in the Purchase Plan by properly completing and filing an authorization with the plan administrator or its delegate
on or before the last day of the offering period preceding the 3-month purchase period in which such employee wishes to participate. 
  

 4 

 Purchase of Shares 

Under the Purchase Plan, there are four, 3-month purchase periods during each calendar year during which participants may purchase
Class A Common Stock. Purchase periods begin on the first day of each of November, February, May and August. During any offering period, eligible employees may authorize the Company to withhold up to $5,312.50 (but not less than $195) of their
compensation during each 3-month purchase period for purposes of purchasing shares of Class A Common Stock under the Purchase Plan. At the end of each 3-month purchase period, unless a participating employee has filed an amended authorization,
such employee’s withheld compensation will automatically be used to purchase from the Company up to such maximum number of shares, depending on the applicable purchase price for such shares. Such shares will be newly issued shares of
Class A Common Stock or shares purchased by the Company in the open market. 
 Purchase Price 

The purchase price for shares of Class A Common Stock under the Purchase Plan is equal to 85% of the average of the high and low
sales prices per share of Class A Common Stock on the New York Stock Exchange on the last day of the 3-month purchase period. 

Termination and Transfer of Participation 

An employee may terminate his or her participation in the Purchase Plan at any time on or before the last day of each purchase period by
filing an amended authorization with the plan administrator. Any such employee who terminates his or her participation with respect to any particular purchase period may elect to participate in the Purchase Plan with respect to subsequent purchase
periods provided such employee otherwise remains eligible for such participation. An employee may also, by filing an amended authorization, specify that only a portion of his or her aggregate payroll deductions be used to purchase Class A
Common Stock. Any withheld compensation remaining after the end of any purchase period will be refunded to the employee in cash without interest as soon as practicable. Employees may not transfer any of their interests in the Purchase Plan during
their lifetime. 
 Amendment and Termination of Plan 

The Purchase Plan may be amended from time to time by the Board of Directors, subject to the approval of the shareholders of the Company
to the extent required by Section 423 under the Code or by Rule 16b-3 under the Exchange Act. No provision of the Purchase Plan may be amended more than once every six months if such amendment would result in the loss of an exemption under
Section 16(b) of the Exchange Act. The Board of Directors may also terminate the Purchase Plan or any offering thereunder at any time; provided, however, that the Board of Directors may not modify, cancel or amend any option outstanding after
the beginning of a purchase period unless (i) each participant consents in writing, (ii) the modification only accelerates the last day of the purchase period or (iii) the Board of Directors determines in good faith that such action
is required by law. 
 FEDERAL INCOME TAX CONSEQUENCES 

The following discussion outlines generally the federal income tax consequences of participation under the Purchase Plan. Individual
circumstances may vary these results. The federal income tax law and regulations are frequently amended, and each participant should look to his or her own tax counsel for advice regarding federal income tax treatment under the Purchase Plan.

 The amounts withheld from a participant’s pay under the Purchase Plan will be taxable income to such participant and
must be included in gross income for federal income tax purposes in the year in which such amounts otherwise actually would have been paid to the participant. 

A participant will not be required to recognize any income for federal income tax purposes either at the time the participant is granted
an option (which will be on the first day of the 3-month purchase period) or by virtue of the exercise of the option (which will take place on the last day of such purchase period). The federal income tax consequences of a sale or disposition of
shares acquired under the Purchase Plan depend in part on the length of time 
  

 5 

 
the shares are held by a participant before such sale or disposition. If a participant sells or otherwise disposes of shares acquired under the Purchase Plan (other than any transfer resulting
from his or her death) within two years after the date on which the option to purchase such shares is granted to that participant, that participant must recognize ordinary income in the year of the sale or disposition in an amount equal to the
excess of (i) the fair market value of the shares on the date those shares were acquired by him or her over (ii) his or her purchase price. This amount of ordinary income is recognized by the participant even if the fair market value of
the shares has decreased since the date the shares were purchased, and the ordinary income recognized is added to his or her basis in those shares. Any gain realized on the sale or disposition in excess of the basis (after increasing the basis in
such shares by the amount of the ordinary income recognized) will be taxed as capital gain, and any loss realized (after increasing the basis in the shares by the ordinary income recognized) will be a capital loss. Whether the capital gain or loss
will be long-term or short-term gain or loss will depend on how long the shares were held. 
 If a participant sells or
otherwise disposes of shares acquired under the Purchase Plan after holding the shares for two years after the date on which the option to purchase those shares is granted to such participant, or the participant dies, he or she must include as
ordinary income in the year of sale (or his or her taxable year ending with his or her death) an amount equal to the lesser of (i) the excess of the fair market value of the shares on the date the option was granted over the option price on the
date of the option grant, or (ii) the excess of the fair market value of the shares on the date he or she sells or otherwise disposes of the shares or on the date of his or her death over the purchase price. Except in the case of a transfer as
a result of death, this amount of ordinary income recognized by the participant is added to his or her basis in such shares. The basis of shares transferred as a result of the death of a participant will not be increased as a result of the ordinary
income recognized by the deceased participant. Any gain realized on the sale or disposition in excess of the participant’s basis (after increasing the basis in such shares by the ordinary income recognized) will be taxed as a long-term capital
gain. Any loss realized will be treated as long-term capital loss. 
 The Company does not receive any income tax deduction as a
result of issuing shares pursuant to the Purchase Plan, except upon sale or disposition of shares by a participant within two years after the date on which the option to purchase the shares is granted to that participant. In that event, the Company
will be entitled to a deduction equal to the amount included as ordinary income to the participant with respect to the sale or disposition of those shares. 

RESTRICTIONS ON RESALE 

Each person who controls, or who is a member of a group that controls, or who is under common control with the Company and who
distributes any Class A Common Stock obtained through the Purchase Plan as described herein, and any broker or dealer who participates in any such distribution, may, in connection with that distribution, be deemed to be an underwriter within
the meaning of the Securities Act unless such securities are sold pursuant to Rule 144 promulgated under the Securities Act. This document may not be utilized in connection with any resales of any Class A Common Stock received by any such
person. 
 In addition, the filing requirements of Section 16(a) of the Exchange Act and the short-swing profit rules under
Section 16(b) may apply to purchases and sales of Class A Common Stock, including purchases of shares under the Purchase Plan and subsequent resales of such shares, by any person who is an executive officer, director or beneficial owner of
10% or more of the outstanding Class A Common Stock of the Company. The Purchase Plan is qualified under Rule 16b-3 under the Exchange Act and, as a result, the grant of the option to purchase shares under the Purchase Plan and the purchase of
any such shares will qualify for certain exemptions from the short-swing profit rules under Section 16(b) of the Exchange Act. 

Shares of Class A Common Stock acquired under the Purchase Plan may not be sold or transferred, other than by will or law of descent
and distribution or to joint ownership with a participant’s spouse, for a period of 6 months following the exercise date on which such shares were acquired. The foregoing restriction on resales does not apply to shares of Class A Common
Stock acquired through the reinvestment of dividends. 
  

 6

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