Document:

Exhibit 10.2

       

      EXECUTION VERSION

    

     

    

    
      ADDITIONAL GUARANTOR SUPPLEMENT

       

      
        
          	To:	
                  Bank of America, N. A., as Administrative Agent (the “Administrative Agent”)

                

        

      

       

      
        
          	From:	
                  Linde Aktiengesellschaft

                

        

      

       

      
        
          	Date:	
                  September 3, 2019

                

        

      

       

      
        
          	Re:	
                  The Credit Agreement dated as of March 26, 2019 among Linde plc, the Subsidiary Borrowers referred to therein, the Lenders listed therein, the Guarantors referred to therein and the Administrative Agent (as extended, renewed, amended
                    or restated from time to time, the “Credit Agreement”)

                

        

      

       

      Ladies and Gentlemen:

       

      Reference is made to the Credit Agreement described above. Terms not defined herein which are defined in the Credit Agreement shall have for the purposes hereof the meaning provided therein.

       

      The undersigned, Linde Aktiengesellschaft, a stock corporation organized under the laws of the Federal Republic of Germany, (“Linde AG”) hereby elects to be a “Subsidiary
          Guarantor” for all purposes of the Credit Agreement, effective from the date hereof.

       

      The undersigned hereby agrees to perform all the obligations of a Subsidiary Guarantor under, and to be bound in all respects by the terms of, the Credit Agreement, including without limitation Article 10 (Guaranty)
        thereof, to the same extent and with the same force and effect as if the undersigned were a signatory thereto as a Subsidiary Guarantor.

       

      The obligations of Linde AG as Subsidiary Guarantor under Article 10 (Guaranty) of the Credit Agreement shall, in accordance with Section 10.07 (Additional Guarantors),
        be subject to the limitations set out below:

       

      At any time when Linde AG is organized in the form of a German stock corporation (Aktiengesellschaft), the obligations of Linde AG as Subsidiary Guarantor under Article 10 (Guaranty) of the Credit Agreement shall be enforceable (vollstreckbar) against Linde AG only

       

      
        
          	(a)	
                  if at the time of the respective payment demand a profit and loss sharing agreement (Gewinnabführungsvertrag) and/or a domination agreement (Beherrschungsvertrag)
                    between Linde AG (as dominated entity (beherrschtes Unternehmen)) and the direct shareholder of Linde AG (as dominating entity (beherrschendes Unternehmen))
                    (“DPLTA”) is in place; and

                

        

      

       

      
        
          	(b)	
                  if and to the extent that the payment by Linde AG under the guarantee would not result in an annual loss to Linde AG which would not be compensated for by a compensation claim (Verlustausgleichsanspruch)
                    under the DPLTA that can be accounted for in the balance sheet of Linde AG at full value (vollwertig).

                

        

      

       

      
        

        
          

        

      

      
      At any time when Linde AG, after a change of its current legal form after the date of this Additional Guarantor Supplement, is organized in the form of a German limited liability company (Gesellschaft mit
          beschränkter Haftung), it may refuse to make any payments under the guarantee to the extent any such payment would result in a violation of Sections 30 et seq. or Section 43 of the German Limited Liability Companies Act (Gesetz betreffend die Gesellschaften mit beschränkter Haftung) (or a successor provision of such law or comparable provision under any successor law) or would otherwise lead to personal liability of its managing
        directors (Geschäftsführer). Linde AG covenants to use all commercially reasonable efforts to maximize the amount payable under the guarantee to the extent permitted by applicable German law.

       

      The undersigned acknowledges that this Additional Guarantor Supplement shall be effective upon its execution and delivery by the undersigned to the Administrative Agent (which is the date set forth above) and the acceptance of this Additional
        Guarantor Supplement by the Administrative Agent on its own behalf and on behalf of the Lenders and the Issuing Lenders.  This Additional Guarantor Supplement shall be construed in accordance with and governed by the laws of the State of New York. 
        The provisions of Section 11.08 and 11.09 of the Credit Agreement are incorporated herein as if a part hereof mutatis mutandis.

       

      [Signature Pages Follow]

       

      
        

        2

        
          

        

      

      	 	
              Very truly yours,

            	 
	 	 	 
	 	
              LINDE AKTIENGESELLSCHAFT

            	 
	 	 	 
	 	
              By:

            	
              /s/ Matthias von Plotho

            	 
	 	
              Name:

            	
              Matthias von Plotho

            	 
	 	
              Title:

            	
              Member of the Executive Board

            	 
	 	 	 	 
	 	
              By:

            	
              /s/ Daniel Geiger

            	 
	 	
              Name:

            	
              Daniel Geiger

            	 
	 	
              Title:

            	
              Senior Counsel - Finance

            	 
	 	 	 	 
	 	
              Acknowledged and agreed:

            	 
	 	 	 
	 	
              BANK OF AMERICA, N. A., on its own behalf and on behalf of the Lenders and Issuing Lenders

            	 
	 	 	 
	 	
              By:

            	
              /s/ Mukesh Singh

            	 
	 	
              Name:

            	
              Mukesh Singh

            	 
	 	
              Title:

            	
              Director

            	 

      

      

      
        [Signature Page to Additional Guarantor Supplement for Linde Credit Agreement]ex_156930.htm

 

EXHIBIT 4.1

 

Description of Registrant’s Securities

Registered Pursuant to Section 12 of the Securities Exchange Act of 1934

 

As of September 6, 2019, LSI Industries Inc. (“we,” “our”) has one class of securities registered under Section 12 of the Securities Exchange Act of 1934, as amended, namely, common stock. We also are authorized to issue preferred stock. The description below does not include all of the terms of our common stock and preferred stock and should be read together with our Amended and Restated Articles of Incorporation and Amended and Restated Code of Regulations.

 

General

 

Under our Amended and Restated Articles of Incorporation, we are authorized to issue up to 41,000,000 shares of capital stock, including:

 

	
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			40,000,000 shares of common stock, without par value; and

			

 

	
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			1,000,000 shares of preferred stock, without par value.

			

 

Common Stock

 

Each outstanding share of common stock is entitled to one vote on all matters submitted to a vote of shareholders, and there are no cumulative voting rights. Our shares of common stock are traded on the Nasdaq Global Select Market.

 

Subject to the rights of holders of any outstanding shares of preferred stock, each record holder of common stock on the applicable record date is entitled to receive dividends on common stock to the extent authorized by our Board of Directors out of assets legally available for the payment of dividends. In addition, subject to the rights of holders of any outstanding preferred shares, holders of common stock are entitled to share ratably in our assets legally available for distribution to our shareholders in the event of our liquidation, dissolution or winding up after payment of or adequate provision for all our known debts and liabilities.

 

Holders of common stock do not have any preemptive rights to subscribe for any of our securities. No conversion, redemption or sinking fund provisions apply to the common stock, and the holders of common stock are not liable to further calls or assessments by us.

 

Preferred Stock

 

Our Board of Directors is authorized, without shareholder approval, to issue up to 1,000,000 shares of preferred stock in one or more series and to fix the rights, preferences, privileges and restrictions granted to or imposed upon the preferred shares, including voting rights, dividend rights, conversion rights, terms of redemption, liquidation preference, sinking fund terms and the number of shares constituting any series or the designation of a series. Our Board of Directors can, without shareholder approval, issue preferred shares with voting and conversion rights that could adversely affect the voting power of the holders of common stock. Any preferred shares issued would also rank senior to our common stock as to rights up on liquidation, winding-up or dissolution. If we issue any preferred shares that are convertible into our common stock, such issuance shares could have the effect of delaying, deferring or preventing a change in control of our company. No preferred shares are outstanding.

 

 

 

 

Control Share Acquisitions

 

We are subject to Section 1701.831 of the Ohio General Corporation Law (“OGCL”) which provides that certain notice and informational filings and special shareholder meeting and voting procedures must be followed prior to consummation of a proposed “control share acquisition.” The OGCL defines a “control share acquisition” as any acquisition of an issuer’s shares which would entitle the acquirer, immediately after that acquisition, directly or indirectly, to exercise or direct the exercise of voting power of the issuer in the election of directors within any one of the following ranges of that voting power:

 

	
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			one-fifth or more but less than one-third of that voting power;

			

 

	
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			one-third or more but less than a majority of that voting power; or

			

 

	
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			a majority or more of that voting power.

			

 

Assuming compliance with the notice and information filings prescribed by the statute, the proposed control share acquisition may be made only if, at a special meeting of shareholders, the acquisition is approved by at least a majority of the voting power of the issuer represented at the meeting and at least a majority of the voting power remaining after excluding the combined voting power of the “interested shares.” “Interested shares” are the shares held by the intended acquirer and the employee-directors and officers of the issuer, as well as certain shares that were acquired after the date of the first public disclosure of the acquisition but before the record date for the meeting of shareholders and shares that were transferred, together with the voting power thereof, after the record date for the meeting of shareholders.

 

Business Combinations with Certain Persons

 

We are subject to Chapter 1704 of the OGCL, which prohibits certain business combinations and transactions between an “issuing public corporation” and an “Ohio law interested shareholder” for at least three years after the Ohio law interested shareholder attains 10% ownership, unless the Board of Directors of the issuing public corporation approves the transaction before the Ohio law interested shareholder attains 10% ownership. An “issuing public corporation” is an Ohio corporation with 50 or more shareholders that has its principal place of business, principal executive offices, or substantial assets within the State of Ohio, and as to which no close corporation agreement exists. An “Ohio law interested shareholder” is a beneficial owner of 10% or more of the shares of a corporation. Examples of transactions regulated by Chapter 1704 include the disposition of assets, mergers and consolidations, voluntary dissolutions and the transfer of shares.

 

Subsequent to the three-year period, a transaction subject to Chapter 1704 may take place provided that certain conditions are satisfied, including:

 

	
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			prior to the interested shareholder’s share acquisition date, the board of directors approved the purchase of shares by the interested shareholder;

			

 

	
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			the transaction is approved by the holders of shares with at least 66 2/3% of the voting power of the corporation (or a different proportion set forth in the articles of incorporation), including at least a majority of the outstanding shares after excluding shares controlled by the Ohio law interested shareholder; or

			

 

	
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			the business combination results in shareholders, other than the Ohio law interested shareholder, receiving a fair price plus interest for their shares.

			

 

Chapter 1704 is applicable to all corporations formed under Ohio law.

 

 

 

 

Provisions in Articles Affecting Business Combinations

 

Our Amended and Restated Articles of Incorporation require approval by 66-2/3% of the voting power of disinterested shareholders for any business combination between an interested shareholder and us for five years after such party became an interested shareholder. An interested shareholder is one beneficially owning 15% or more of the voting power. Business combinations include mergers, sales of assets and similar transactions. Our Amended and Restated Articles of Incorporation also require any person who becomes an interested shareholder to offer to purchase all of our voting securities and securities convertible into or constituting warrants or options to purchase our voting securities within 25 days after achieving 15% ownership. The price to be paid would be the higher of the highest price paid by the interested shareholder in acquiring such beneficial ownership or the highest trading price during the 45 day period commencing 70 days prior to the date that such person became an interested shareholder. These provisions are not applicable if the proposed business combination is approved prior to its consummation by a majority of disinterested directors or if the transaction by which a person becomes an interested shareholder is approved at any time prior to that time by a majority of disinterested directors. The vote of holders of 66-2/3% of all outstanding shares of common stock is required to amend our Amended and Restated Articles of Incorporation and to approve mergers, reorganizations, and similar transactions.

 

Transfer Agent and Registrar

 

Computershare serves as the transfer agent and registrar for our common stock.

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