Document:

exv4w3

 

Exhibit
4.3

FIRST AMENDMENT TO RIGHTS AGREEMENT

     This
Amendment (this “Amendment”) is made as of July 30, 2007 between Imation Corp., a
Delaware corporation (the “Company”), and The Bank of New York, a New York banking corporation, as
rights agent (the “Rights Agent”), to the Rights Agreement dated as of June 21, 2006 between the
Company and the Rights Agent (the “Original Agreement”).

     WHEREAS, the Company and the Rights Agent have entered into the Original Agreement; and

     WHEREAS, the Board of Directors of the Company has determined to amend the Original Agreement
in accordance with Section 27 thereof and hereby directs the Rights Agent to execute this
Amendment.

     Accordingly, the parties hereby agree as follows:

     1.      Section 1(a) of the Original Agreement is hereby amended in its entirety to read as
follows:

        (a)      “Acquiring Person” shall mean any Person (as such term is defined in this
Agreement) who or which, together with all Affiliates and Associates (as such terms are
defined in this Agreement) of such Person, shall be the Beneficial Owner (as such term is
defined in this Agreement) of fifteen percent (15%) or more of the shares of Common Stock
then outstanding, but shall not include:

        (i)      the Company,

        (ii)      any Subsidiary of the Company,

        (iii)      any employee benefit plan of the Company or of any Subsidiary of the Company, or
any Person or entity organized, appointed or established by the Company or any Subsidiary of
the Company for or pursuant to the terms of any such plan,

        (iv)      any Person who, together with all Affiliates and Associates of such Person,
becomes the Beneficial Owner of fifteen percent (15%) or more of the shares of Common Stock
then outstanding as a result of a reduction in the number of shares of Common Stock
outstanding due to the repurchase of shares of Common Stock by the Company unless and until
such Person, after becoming aware that such Person has become the Beneficial Owner of
fifteen percent (15%) or more of the then outstanding shares of Common Stock, acquires
beneficial ownership of any additional shares of Common Stock which would render such
Person, together with all Affiliates and Associates of such Person, the Beneficial Owner of
fifteen percent (15%) or more of the shares of Common Stock then outstanding,

        (v)      any Person who, on or prior to the Rights Dividend Declaration Date, has disclosed
in a Schedule 13D or Schedule 13G statement on file with the Securities and

 

 

Exchange Commission as of the Rights Dividend Declaration Date that such Person, together
with all Affiliates and Associates of such Person, is the Beneficial Owner of fifteen
percent (15%) or more of the shares of Common Stock then outstanding, unless such Person
acquires beneficial ownership of shares of Common Stock in addition to those disclosed in
such Schedule 13D or Schedule 13G statement which would render such Person, together with
all Affiliates and Associates of such Person, the Beneficial Owner of fifteen percent (15%)
or more of the shares of Common Stock then outstanding,

        (vi)      any Person who becomes the Beneficial Owner of fifteen percent (15%) or more of
the shares of Common Stock of the Company then outstanding as a result of the direct or
indirect acquisition, by way of merger, stock purchase, asset purchase or otherwise, of
another Person or Persons who “beneficially owns” shares of Common Stock, provided the
Common Stock of the Company is not the primary asset of such other Person or Persons, such
acquisition is made without any intention of changing or influencing control of the Company,
and the Person, after becoming aware that such Person has become the “beneficial owner” of
fifteen percent (15%) or more of the then outstanding shares of Common Stock, does not
acquire “beneficial ownership” of any additional shares of Common Stock which would render
such Person, together with all Affiliates and Associates of such Person, the Beneficial
Owner of fifteen percent (15%) or more of the shares of Common Stock then outstanding, or

        (vii)      TDK Corporation (“TDK”) and its Affiliates at any time during the period (the
“TDK Standstill Period”) beginning at the time, if any, at which the Company shall have
issued to TDK and its Affiliates shares of Common Stock representing in the aggregate
fifteen percent (15%) or more of the shares of Common Stock outstanding immediately
following such initial issuance and ending at the time, if any, at which TDK and its
Affiliates shall have (A) ceased, as a result of voluntary sales of shares of Common Stock
by any of them, to be the holders of record, in the aggregate, of at least that number of
 shares of Common Stock that shall be equal to seventy-five percent (75%) of the sum of (1)
the number of shares of Common Stock so issued plus (2) any additional shares of Common
Stock acquired by TDK and its Affiliates prior to and held at the date of such initial
issuance or acquired during the 180-day period following the date of such initial issuance,
or (B) ceased, as a result of the subsequent issuance by the Company of additional shares of
Common Stock, to be the holders of record of at least ten percent (10%) of the Common Stock
outstanding immediately following such subsequent issuance if, but only if, TDK and its
Affiliates would have continued to hold at least ten percent (10%) of the outstanding Common
Stock following such subsequent issuance but for a failure of TDK to exercise any rights it
may have had to subscribe for any of such additional shares; provided, that, if TDK shall,
at any time during the said TDK Standstill Period, have become the Beneficial Owner either
(x) of more than twenty-one percent (21%) of the Common Stock then outstanding other than as
a result of a reduction in the number of shares of Common Stock outstanding due to the
repurchase of shares of Common Stock by the Company, or (y) of more than twenty-two percent
(22%) of the Common Stock then outstanding as a result of a reduction in the number of
 shares of Common Stock outstanding due to the repurchase of shares of Common Stock by the
Company, then, in either such event, TDK and its Affiliates shall

2

 

have refrained, from and after becoming aware that the applicable percentage has been
surpassed, from acquiring beneficial ownership of any additional shares of Common Stock and,
within ten (10) Business Days after becoming aware that the applicable percentage has been
surpassed, shall have disposed of a sufficient number of shares of Common Stock such that
TDK shall be the Beneficial Owner of no more than twenty-one percent (21%) of the shares of
Common Stock then outstanding.

A Person other than the Company or any Subsidiary of the Company holding shares of Common Stock for or pursuant to the terms of an employee benefit plan of the Company or of any Subsidiary of the Company and in addition being the Beneficial Owner of shares of Common Stock that are not held for or pursuant to the terms of any such plan shall be deemed to constitute an Acquiring Person, notwithstanding anything herein stated, if, but
only if, it, together with its Affiliates and Associates, shall be the Beneficial Owner of fifteen percent (15%) or more, exclusive of those shares of Common Stock held by it for or pursuant to the terms of any such plan, of the shares of Common Stock then outstanding.

Notwithstanding the foregoing, if the Board of Directors of the Company determines in good faith that a Person who would otherwise be deemed an “Acquiring Person” pursuant to the foregoing provisions of this paragraph (a) has become such inadvertently (including, without limitation, because (A) such Person was unaware that it beneficially owned a percentage of the shares of Common Stock that would otherwise cause
 such Person to be an “Acquiring Person” or (B) such Person was aware of the extent of its Beneficial Ownership but had no actual knowledge of the consequences of such Beneficial Ownership under this Agreement), and without any intention of changing or influencing control of the Company, and such Person divests as promptly as practicable a sufficient number of shares of Common Stock so that such Person would no longer be deemed an “Acquiring Person,” as defined pursuant to the foreg
oing provisions of this paragraph (a), then such Person shall not be deemed to be an “Acquiring Person” for any purposes of this Agreement.

     2.      Section 18 of the Original Agreement is hereby amended by adding the following sentence at
the end of that Section:

“Anything to the contrary notwithstanding, in no event shall the Rights Agent be liable for
special, punitive, indirect, consequential or incidental loss or damage of any kind
whatsoever (including but no limited to lost profits), even if the Rights Agent has been
advised of the likelihood of such loss or damage.”

     3.      By its execution and delivery hereof, the Company states that this Amendment is in
compliance with the terms of Section 27 of the Original Agreement and directs the Rights Agent to
execute this Amendment.

     4.      The Original Agreement shall remain in full force and effect without amendment, except for
this Amendment and any other amendment made in accordance with Section 27 of the Original
Agreement. All terms used in this Amendment that are defined in the Original Agreement but are not
defined herein shall have the meanings ascribed to them in the Original

3

 

Agreement. The Summary of Rights contained in Exhibit C to the Original Agreement is a summary of
the Original Agreement without regard to this Amendment and does not limit or affect this Amendment
in any way. All references in the Original Agreement to “this Agreement,” “the Agreement,” or
“hereof” and all references in this Amendment to the Agreement shall hereafter be deemed to be
references to the Original Agreement as amended by this Amendment and any other amendment made in
accordance with Section 27 of the Original Agreement.

     5.      This Amendment shall be deemed to be a contract made under the laws of the State of
Delaware 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 such State; provided,
however, that the rights, obligations and duties of the Rights Agent hereunder shall be governed by
and construed in accordance with the laws of the State of New York.

Remainder of the page left intentionally blank

Signature page follows

4

 

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

	 	 	 	 	 	 	 
	 	 	IMATION CORP.	 	 
	 
	 	 	 	 	 	 
	 

	 	By
	 	/s/ John L. Sullivan 

	 	 
	 
	 	 	 	 	 	 
	 

	 	Its
	 	Senior Vice President, General Counsel and Secretary 

	 	 
	 
	 	 	 	 	 	 
	 	 	THE BANK OF NEW YORK	 	 
	 
	 	 	 	 	 	 
	 

	 	By
	 	/s/ Eon Canzius 

	 	 
	 
	 	 	 	 	 	 
	 

	 	Its
	 	Vice President 

	 	 

5<PAGE>

                                                                    EXHIBIT 10.1

                         EMPLOYMENT SEPARATION AGREEMENT
                                   AND RELEASE

     SPSS Inc. ("Employer") and Jonathan P. Otterstatter (hereinafter
"Employee") hereby agree as follows:

     Employee's employment with Employer will terminate on June 8, 2007. From
the date of this Agreement through June 8, 2007, Employee shall continue as an
employee of Employer and shall continue to perform all of his duties for
Employer.

     2. Employee will receive the amounts due, if any, as set forth on Exhibit A
- Part 1, less applicable taxes and deductions, on June 8, 2007 (or, in the case
of expense reimbursements, as soon as practicable after the final expense report
is received by Employer). Except as set forth in this Agreement, no further
payments will be made to Employee for salary, bonus, expense reimbursement,
commissions, consulting, benefits, severance, vacation, personal days, sick days
or otherwise.

     3. Employer denies that it is liable to Employee for any reason whatsoever,
and the entry into this Separation Agreement and Release shall not constitute
any admission or evidence of unlawful discrimination or improper conduct, and
should not be construed as constituting any admission of fault, wrongdoing, or
liability. However, in consideration for a full and complete release from
Employee, Employer will provide Employee with the Additional Severance Amount
set forth on Exhibit A - Part 2, less applicable taxes and deductions, which
Employee recognizes is wholly discretionary and not required by any policy or
practice of Employer. Payment will be made after Employer receives a fully
executed copy of this Agreement from Employee, but no payment will be made
before the seven-day revocation period ends and in no event later than March 15,
2008. If the seven-day revocation period expires after March 15, 2008, Employee
shall not be entitled to any payments or benefits under this Agreement.

     4. Employee releases, forever discharges and covenants not to sue Employer
or its current or former parent companies, subsidiaries, affiliates,
predecessors, successors, insurers,

<PAGE>

directors, officers, employees, agents, or assigns, with respect to any and all
claims, causes of action, suits, debts, sums of money, controversies,
agreements, promises, damages, and demands whatsoever, including attorneys' fees
and court costs, in law or equity or before any federal, state or local
administrative agency, whether known or unknown, suspected or unsuspected, which
Employee has, had, or may have, based on any event occurring, or alleged to have
occurred, to the date of this Agreement. This release includes, but is not
limited to, claims under Title VII of the Civil Rights Act of 1964, as amended,
the Americans with Disabilities Act, the Rehabilitation Act, the Age
Discrimination in Employment Act, the Occupational Safety and Health Act, the
Family and Medical Leave Act, the Employee Retirement Income Security Act,
federal and state wage and hour laws, the Illinois Constitution, the Illinois
Human Rights Act, the Cook County Human Rights Ordinance, the Chicago Human
Rights Ordinance and any other federal, state or local statute, law, regulation,
ordinance, or order, and claims arising under common law, contract, implied
contract, public policy or tort. Employee expressly waives his or her right to
any relief of any kind should any administrative agency pursue any claim on
Employee's behalf. Notwithstanding the foregoing release of all claims, it is
understood and agreed that Employee's claims for unemployment compensation, if
any, are not released.

     5. Employee expressly waives and relinquishes all rights and benefits
provided to Employee by any statute or other law which prohibits release of
unspecified claims and acknowledges that this release is intended to include all
claims Employee has or may have, whether Employee is aware of them or not, and
that all such claims are released by this Agreement.

     6. Employee agrees to cooperate with Employer in regard to the transition
of business matters handled by Employee during his or her employment with
Employer and in regard to any litigation brought against Employer arising out of
matters involving Employee.

                                       -2-

<PAGE>

Employee states that he or she has returned all property of Employer within his
or her possession and control to Employer.

     7. This Agreement is strictly confidential and Employee will not inform any
person of any of its terms and conditions or the amount of severance provided
herein, except for Employee's attorney, members of his or her immediate family
and those who need to know for Employee's compliance with federal, state, or
local law. Employee will instruct any persons advised about this Agreement
pursuant to this provision to keep such information strictly confidential.

     8. Employee will direct all requests for references to the Human Resources
Department. Human Resources will respond to any written requests for references
from prospective employers of Employee with information as to Employee's dates
of employment with Employer, job title and pay rate only.

     9. Employee will not make statements about Employer or engage in conduct
that could reasonably be expected to adversely affect Employer's reputation or
business.

     10. Employee understands that this Agreement fully sets forth all
separation benefits he or she will receive from Employer, and it supersedes any
offers or promises, whether oral or written, which may have been made at any
time.

     11. This Agreement will not take effect until eight days after Employee
signs it.

     12. Employee may revoke this Agreement within seven days after signing it
and render it null and void. If Employee wishes to revoke this Agreement, he or
she should notify Anthony Ciro, Vice President, Associate General Counsel in
writing of Employee's intent to revoke within seven days after signing this
Agreement.

     13. Employee acknowledges that he or she has fully read this Agreement,
understands its terms, has been advised to consult with an attorney prior to
signing this Agreement, has been

                                       -3-

<PAGE>

given 45 days to consider this release and its ramifications, has been given
seven days after signing to rescind this Agreement, and is entering into this
Agreement knowingly and voluntarily.

                                        THIS DOCUMENT IS A RELEASE OF
                                        ALL CLAIMS READ CAREFULLY
                                        BEFORE SIGNING

DATED: June 1, 2007                     /s/ Jonathan P. Otterstatter
                                        ----------------------------------------
                                        Employee (Jonathan P. Otterstatter)

                                        SPSS INC.

DATED: June 4, 2007                     By: /s/ Alan D. Williams, Jr.
                                            ------------------------------------
                                            Alan D. Williams, Jr.
                                            Vice President
                                            Human Resources

                                       -4-
<PAGE>

JONATHAN P. OTTERSTATTER

                                    EXHIBIT A

                                     PART 1

                         AMOUNTS TO BE PAID IN PAYCHECK

-    FINAL PAY - YOU WILL BE PAID YOUR REGULAR BASE SALARY THROUGH JUNE 8, 2007

-    ACCRUED VACATION PAY - YOUR ACCRUED UNUSED VACATION WILL BE PAID.

-    Outstanding expenses and company equipment - Please submit a final expense
     report for reimbursement and return all company equipment, property and
     materials no later than June 15, 2007.

                                     PART 2

                   AMOUNT TO BE PAID AFTER AGREEMENT IS SIGNED

  (Paid and effective after signed receipt of Employment Separation Agreement,
  7-day revocation period and on the next corresponding payroll cycle - 15th &
 30th of each month; no payments or benefits if 7-day revocation period expires
                              after March 15, 2008)

-    Lump sum severance amount: $340,000.00

-    Effective as of the day after the termination of the 7-day revocation
     period, immediate vesting will occur with respect to 15,655 of the unvested
     restricted share units granted to the Employee on April 27, 2006.

-    Employer-paid premium for twelve (12) months of continued COBRA coverage
     (medical and dental) based on your current enrollment in SPSS
     medical/dental plans

     (You are only eligible for continuation of benefits in any covered SPSS
     medical/dental plan in which you are enrolled on your termination date.
     COBRA paperwork MUST be completed and returned within the legally
     prescribed guidelines. When you receive the paperwork from Ceridian,
     complete it and return it as if you were paying for COBRA. The company will
     pay the premium on your behalf for the period of time specified. All
     coverage terms will be governed by COBRA.)

                                       -5-

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00127-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00127-of-00352.parquet"}]]