Document:

exv10w8

 

Exhibit 10.8

STOCK PURCHASE AGREEMENT

     This STOCK PURCHASE AGREEMENT (“Agreement”) is dated June 30, 2003, and is
entered into by and between LIBERTÉ INVESTORS INC., a Delaware corporation (the
“Company”), and DONALD J. EDWARDS, a resident of the State of Illinois
(“Edwards”).

     WHEREAS, in accordance with the terms and conditions of Section 4(h) of
that certain Employment Agreement dated as of July 1, 2002, by and between
Edwards and the Company (the “Employment Agreement”), the Company has agreed to
sell to Edwards up to 333,333 shares of its common stock, par value $0.01 per
share (the “Purchased Shares”), at a purchase price of $3.00 per share; and

     WHEREAS, Edwards previously purchased 166,667 shares of the Purchased
Shares pursuant to his Employment Agreement, as evidenced by that certain Stock
Purchase Agreement dated as of July 9, 2002, by and between Edwards and the
Company; and

     WHEREAS, Edwards now desires to purchase and the Company has agreed to
sell the remaining 166,666 shares (the “Shares”) of the Purchased Shares at a
purchase price of $3.00 per Share, in accordance with the terms of the
Employment Agreement.

     NOW, THEREFORE, in consideration of the mutual covenants contained herein
and in the Employment Agreement and other good and valuable consideration, the
sufficiency of which are hereby acknowledged, the parties to this Agreement
agree as follows:

1. SALE OF STOCK

     1.1    Sale of Stock. Subject to the terms and conditions stated in this
Agreement, the Company shall sell, assign, transfer and deliver the Shares to
Edwards, and Edwards shall purchase the Shares from the Company upon execution
of this Agreement (the “Closing”).

     1.2.    Purchase Price. The purchase price to be paid by Edwards to the
Company for the Shares is $3.00 per share (the “Purchase Price”), which amount
shall be paid in cash at Closing by wire transfer or by delivery by Edwards to
the Company of a cashier’s or bank check by overnight delivery on the business
day immediately following the Closing.

     1.3.    Representation by Edwards. Edwards hereby represents and warrants to
the Company that he is acquiring the Shares for his own account and for
investment purposes and not with a view to their distribution within the
meaning of Section 2(11) of the Securities Act of 1933, as amended.

2. CLOSING OF PURCHASE

     2.1.    Closing. The purchase and sale transaction referred to in Section
1.1 shall take place on the date hereof at the offices of the Company in
Dallas, Texas, or at such other time and place as the parties to this Agreement
shall mutually agree upon.

 

 

     2.2.    Closing Deliveries. At or promptly following the Closing, (i)
Edwards shall deliver to the Company the Purchase Price, as provided above, and
(ii) the Company shall deliver to Edwards a certificate representing the Shares
being sold on such date.

3. MISCELLANEOUS

     3.1.    Captions. The captions used in this Agreement are for reference
purposes only, and shall not in any way affect the meaning or interpretation of
this Agreement.

     3.2.    Parties in Interest. This Agreement shall be binding upon and shall
inure to the benefit of the parties to this Agreement and their respective
heirs, executors, administrators, successors and assigns.

     3.3.    Counterparts. This Agreement may be executed in two or more
counterparts, all of which taken together shall constitute one instrument.

     3.4.    Entire Agreement. This Agreement and the Employment Agreement
contain the entire understanding of the parties to this Agreement with respect
to the subject matter contained in this Agreement. This Agreement and the
Employment Agreement supersede all prior agreements and understandings between
the parties with respect to such subject matter.

     3.5.    Survival of Representations and Covenants. All representations,
warranties, covenants, and agreements made by the respective parties to this
Agreement hereto shall survive the consummation of the transactions
contemplated by this Agreement.

     3.6.    Further Assurances. Each of the parties to this Agreement agrees
that it will perform all such further acts and execute and deliver all such
further documents as may be reasonably required in connection with the
consummation of the transactions contemplated hereby in accordance with the
terms of this Agreement.

     3.7.    Governing Law. THIS AGREEMENT IS MADE PURSUANT TO, WILL BE
CONSTRUED UNDER, AND WILL BE CONCLUSIVELY DEEMED FOR ALL PURPOSES TO HAVE BEEN
EXECUTED AND DELIVERED UNDER, THE SUBSTANTIVE LAWS OF THE STATE OF DELAWARE,
WITHOUT REGARD TO ITS PRINCIPLES OF CONFLICT OF LAWS.

* * * * *

 

 

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

	 	 	 	 	 	 	 	 	 
	THE COMPANY:	 	LIBERTÉ INVESTORS INC.
	 	 	 	 	 	 	 	 	 
	 	 	
By:
	 	 
	 	 
	 	/s/ Ellen V. Billings
	 	 	 	

	 	 	
Name:
	 	 	 	 	 	Ellen V. Billings
	 	 	
Title:
	 	 	 	 	 	Vice President, Secretary and Treasurer
	 	 	 	 	 	 	 	 	 
	EDWARDS:	 	 	 	 	 	 	 	/s/ Donald J. Edwards
	 	 	

	 	 	Donald J. Edwards<PAGE>

                             SUPPLEMENTAL INDENTURE

         SUPPLEMENTAL INDENTURE (this "Supplemental Indenture"), dated as of May
7, 2003, among X Properties, LLC, a Delaware limited liability company (the
"Guaranteeing Subsidiary"), a subsidiary of Jarden Corporation, formerly known
as Alltrista Corporation, a Delaware corporation (the "Company"), the Company,
the other Guarantors (as defined in the Indenture referred to herein) and The
Bank of New York, as trustee under the indenture referred to below (the
"Trustee").

                               W I T N E S S E T H

         WHEREAS, the Company has heretofore executed and delivered to the
Trustee an indenture (the "Indenture"), dated as of April 24, 2002, providing
for the issuance of 9 3/4% Senior Subordinated Notes due 2012 (the "Notes");

         WHEREAS, the Indenture provides that under certain circumstances the
Guaranteeing Subsidiary shall execute and deliver to the Trustee a supplemental
indenture pursuant to which the Guaranteeing Subsidiary shall unconditionally
guarantee all of the Company's Obligations under the Notes and the Indenture on
the terms and conditions set forth herein (the "Subsidiary Guarantee"); and

         WHEREAS, pursuant to Section 9.01 of the Indenture, the Trustee is
authorized to execute and deliver this Supplemental Indenture.

         NOW THEREFORE, in consideration of the foregoing and for other good and
valuable consideration, the receipt of which is hereby acknowledged, the
Guaranteeing Subsidiary and the Trustee mutually covenant and agree for the
equal and ratable benefit of the Holders of the Notes as follows:

         1. CAPITALIZED TERMS. Capitalized terms used herein without definition
shall have the meanings assigned to them in the Indenture.

         2. AGREEMENT TO GUARANTEE. The Guaranteeing Subsidiary hereby agrees to
provide an unconditional Guarantee on the terms and subject to the conditions
set forth in the Subsidiary Guarantee and in the Indenture, including but not
limited to Article 11 thereof.

         3. EXECUTION AND DELIVERY. The Guaranteeing Subsidiary agrees that the
Subsidiary Guarantees shall remain in full force and effect notwithstanding any
failure to endorse on each Note a notation of such Subsidiary Guarantee.

         4. NO RECOURSE AGAINST OTHERS. No past, present or future member,
manager, officer, employee, or agent of the Guaranteeing Subsidiary, as such,
shall have any liability for any obligations of the Company or any Guaranteeing
Subsidiary under the Notes, any Subsidiary Guarantees, the Indenture or this
Supplemental Indenture or for any claim based on, in respect of, or by reason
of, such obligations or their creation. Each Holder of the Notes by accepting a
Note waives and releases all such liability. The waiver and release are part of
the consideration

                                      F-1
<PAGE>

for issuance of the Notes. Such waiver may not be effective to waive liabilities
under the federal securities laws and it is the view of the SEC that such a
waiver is against public policy.

         5. NEW YORK LAW TO GOVERN. THE INTERNAL LAW OF THE STATE OF NEW YORK
SHALL GOVERN AND BE USED TO CONSTRUE THIS SUPPLEMENTAL INDENTURE BUT WITHOUT
GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT
THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY.

         6. COUNTERPARTS. The parties may sign any number of copies of this
Supplemental Indenture. Each signed copy shall be an original, but all of them
together represent the same agreement.

         7. EFFECT OF HEADINGS. The Section headings herein are for convenience
only and shall not affect the construction hereof.

         8. THE TRUSTEE. The 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 Guaranteeing Subsidiary and the Company.

<PAGE>

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

         Dated:  May 7, 2003

<TABLE>
<CAPTION>
<S>                                                         <C>
                                                              X PROPERTIES, LLC
                                                              By: Quoin Corporation, as sole member

                                                                   By: /s/ Desiree DeStefano
                                                                      -------------------------------------
                                                                      Name:  Desiree DeStefano
                                                                      Title: Vice President

   JARDEN CORPORATION                                           THE BANK OF NEW YORK,
                                                                as Trustee

By: /s/ Desiree DeStefano                                    By: /s/ Julie Salovitch-Miller
   -------------------------------------                        -------------------------------------
   Name:  Desiree DeStefano                                    Name:  Julie Salovitch-Miller
   Title: Senior Vice President                                Title: Vice President

   ALLTRISTA NEWCO                                              ALLTRISTA PLASTICS
   CORPORATION                                                  CORPORATION

By: /s/ Desiree DeStefano                                    By: /s/ Desiree DeStefano
   -------------------------------------                        -------------------------------------
   Name:  Desiree DeStefano                                    Name:  Desiree DeStefano
   Title: Vice President                                       Title: Vice President

   ALLTRISTA ZINC PRODUCTS, L.P.                                HEARTHMARK, INC.
   By: Alltrista Newco Corporation, its
          General Partner

By: /s/ Desiree DeStefano                                    By: /s/ Desiree DeStefano
   -------------------------------------                        -------------------------------------
   Name:  Desiree DeStefano                                     Name:  Desiree DeStefano
   Title: Vice President                                        Title: Vice President

<PAGE>

   QUOIN CORPORATION                                            TILIA, INC.

By: /s/ Desiree DeStefano                                    By: /s/ Desiree DeStefano
   -------------------------------------                        -------------------------------------
   Name:  Desiree DeStefano                                     Name:  Desiree DeStefano
   Title: Vice President                                        Title: Vice President

   TILIA DIRECT, INC.                                           TILIA INTERNATIONAL, INC.

By: /s/ Desiree DeStefano                                    By: /s/ Desiree DeStefano
   -------------------------------------                        -------------------------------------
   Name:  Desiree DeStefano                                     Name:  Desiree DeStefano
   Title: Vice President                                        Title: Vice President

   TRIENDA CORPORATION

By: /s/ Desiree DeStefano
   -------------------------------------
   Name:    Desiree DeStefano
   Title:   Vice President
</TABLE>

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