Document:

exv4w37

 

Exhibit 4.37

	C L I F F O
R D	 	LIMITED
LIABILITY PARTNERSHIP
	C H A N C E	 	 
	 	 	 
	 	 	 
	 	 	 

CGU INTERNATIONAL INSURANCE PLC

AND

ROYAL & SUN ALLIANCE INSURANCE PLC

AND

CONVERIUM AG

AND

MÜNCHENER RÜCKVERSICHERUNGS-GESELLSCHAFT AKTIENGESELLSCHAFT IN MÜNCHEN

AND

NORTHERN STATES AGENCY, INC.

 

SUPPLEMENTAL AGREEMENT TO THE AGREEMENT FOR THE SALE AND

PURCHASE OF CGU INTERNATIONAL INSURANCE PLC’S AND PART

OF ROYAL & SUN ALLIANCE INSURANCE PLC’S SHAREHOLDING IN

GLOBAL AEROSPACE UNDERWRITING MANAGERS LIMITED

 

CONTENTS

	 	 	 	 	 	 	 	 	 
	Clause	 	 	 	 	 	Page
	
	 	 	 	 	 	

	1
	 	Interpretation	 	 	1	 
	2
	 	Agreement	 	 	2	 
	3
	 	Reliance	 	 	2	 

 

 

THIS SUPPLEMENTAL AGREEMENT is made on

BETWEEN:

	(1)	 	CGU INTERNATIONAL INSURANCE PLC, a company incorporated in England and
Wales (registered no. 21487), whose registered office is at St Helen’s, 1
Undershaft, London EC3P 3DQ, England;
	 
	(2)	 	ROYAL & SUN ALLIANCE INSURANCE PLC, a company incorporated in England and
Wales (registered no. 93792), whose registered office is at St Mark’s
Court, Chart Way, Horsham, West Sussex RH12 1XL;
	 
	(3)	 	CONVERIUM AG, a company incorporated in Switzerland whose registered
office is at General Guisan-Quai 26, 8022 Zürich, Switzerland;
	 
	(4)	 	MÜNCHENER RÜCKVERSICHERUNGS-GESELLSCHAFT AKTIENGESELLSCHAFT IN MÜNCHEN,
whose registered office is at Königinstraße, 107, 80802 München, Germany;
	 
	(5)	 	NORTHERN STATES AGENCY, INC., a company incorporated in Minnesota, USA,
whose registered office is at 2145 Ford Parkway, Suite 202, St Paul,
Minnesota, United States of America 55116-1862.

WHEREAS:

	(A)	 	Clause 8.1 of the Agreement for the Sale and Purchase of CGU
International Insurance plc’s and part of Royal & Sun Alliance Insurance
plc’s shareholding in Global Aerospace Underwriting Managers Limited dated
27 November 2002 (the “Agreement”) provides that Completion is conditional
upon the Conditions set out in clauses 8.1.1, 8.1.2 and 8.1.3 of the
Agreement being satisfied on or before 30 June 2003. Clause 8.1.2 of the
Agreement sets out a Condition which applies in the event that a filing or
filings are required in Canada.
	 
	(B)	 	Clause 24.1 of the Agreement provides that the Sellers and the Buyers
shall have certain rights and obligations in the event that a merger
control filing or filings are required in Argentina, Brazil and/or Taiwan.
	 
	(C)	 	The parties to the Agreement wish to record in this Supplemental
Agreement their agreement of certain matters pertaining to clauses 8.1 and
24.1 of the Agreement.

THE PARTIES AGREE as follows:

	1.	 	INTERPRETATION
	 
	1.1	 	In this Supplemental Agreement, the “Agreement” means the Agreement for
the Sale and Purchase of CGU International Insurance plc’s and part of
Royal & Sun Alliance Insurance plc’s shareholding in Global Aerospace
Underwriting Managers Limited dated 27 November 2002.
	 
	1.2	 	Terms defined in the Agreement shall have the same meaning in this
Supplemental Agreement.

 

 

	1.3	 	The provisions of clauses 1.2, 1.3 (Interpretation), 16 (Assignment), 27
(Third Party Rights), 28 (General), 29 (Notices) and 30 (Governing Law and
Jurisdiction) of the Agreement shall apply to this Supplemental Agreement
as if incorporated herein.
	 
	2.	 	AGREEMENT
	 
	2.1	 	In consideration for the granting of the mutual promises and waivers
contained herein the parties to this Supplemental Agreement agree that:

	 	2.1.1	 	no filing is required in Canada, and therefore the Condition
in clause 8.1.2 of the Agreement is satisfied; and
	 
	 	2.1.2	 	no merger control filing or filings are required in Argentina
or Taiwan, and therefore in relation to Argentina and Taiwan only:
	 

	 	(a)	 	clause 24.1.1 of the Agreement shall not impose
any obligations on the Sellers;
	 
	 	(b)	 	clause 24.1.2 of the Agreement shall not impose
any obligations on the Buyers; and
	 
	 	(c)	 	each party to the Agreement waives any right
conferred on it by clause 24.1.3 of the Agreement that, in
the event that any party to the Agreement is prohibited by
the relevant competition authorities in Argentina or Taiwan
from carrying out any of their obligations under the
Agreement (including, without limitation, completing the
Agreement), such parties shall not be required to perform
such obligations until such prohibition has been lifted,
	 

	 	PROVIDED THAT sub-paragraphs (a) to (c) above shall not apply in
the case of Argentina if the Argentinean Antitrust Commission
determines that a merger control filing is or filings are required
in Argentina.

	3.	 	RELIANCE
	 
	 	 	Each party to this Agreement confirms that it has entered into this
Agreement based on its own assessment of the matters referred to herein
and has not relied on any statement or representation by or on behalf of
any other party hereto.

 

 

EXECUTED by the parties:

	 	 
	Signed by ________________________
	)

	a duly authorised
	)

	representative of
	)

	CGU INTERNATIONAL        )
	 

	INSURANCE PLC
	)

	 

	Signed by ________________________
	)

	a duly authorised
	)

	representative of
	)

	ROYAL & SUN ALLIANCE
	)

	INSURANCE PLC
	)

	 
	Signed by ________________________
	)

	and _____________________________
	)

	for and on behalf of
	)

	CONVERIUM AG
	)

	 
	Signed by ________________________
	)

	and _____________________________
	)

	duly authorised
	)

	representatives of
	)

	MÜNCHENER
	)

	RÜCKVERSICHERUNGS-
	)

	GESELLSCHAFT
	)

	AKTIENGESELLSCHAFT
	)

	IN MÜNCHEN
	)

	 
	Signed by ________________________
	)

	and _____________________________
	)

	duly authorised
	)

	representatives of
	)

	NORTHERN STATES
	)

	AGENCY, INC.
	)EXHIBIT 4.1

                        FORM OF COMMON STOCK CERTIFICATE

                                     [Front]

Number                              Shares
-------                             -------

              INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE

                                BILLY DEAD, INC.

This Certifies that *********** is the owner of ********** fully paid and
non-assessable

SHARES OF THE COMMON STOCK, PAR VALUE $0.001 PER SHARE, OF Billy DEAD, INC.,

transferable only on the books of the Corporation by the holder hereof in person
or by duly authorized Attorney upon the surrender of this Certificate properly
endorsed.

     The Corporation will furnish without charge to each stockholder who so
requests, powers, designations, preferences and relative, participating optional
or other special rights of each class of stock or series thereof and the
qualifications, limitations or restrictions of such preferences and/or rights.

IN WITNESS WHEREOF, the said Corporation has caused this Certificate to be
signed by its duly authorized officers and to be sealed with the Seal of the
Corporation, this *** day of ***** A.D. 200*.

/s/ JULIE G. LYNN            [Corporate Seal]         /s/ CHARLES F. RYAN III
-----------------                                     -----------------------
Secretary                                             President

                                     II-44
<PAGE>

                                     [Back]

For Value Received, _________________ hereby sells, assign and transfer unto
____________ _________________________ Shares represented by the written
Certificate, and do hereby irrevocably constitute and appoint
______________________ Attorney to transfer the said Shares on the books of the
within named Corporation with full power of substitution in the premises.

Dated _________________________200_

In the presence of

--------------------------------             --------------------------------

THIS SPACE IS NOT TO BE COVERED IN ANY WAY

                                     II-45EXHIBIT 4.2

                  FORM OF SERIES A PREFERRED STOCK CERTIFICATE

                                     [Front]

Number                Shares                CUSIP No. _____________
-------               -------

              INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE

                                BILLY DEAD, INC.

This Certifies that *********** is the owner of ********** fully paid and
non-assessable

                     SHARES OF THE SERIES A PREFERRED STOCK,
                           PAR VALUE $0.001 PER SHARE,
                              OF BILLY DEAD, INC.,

transferable only on the books of the Corporation by the holder hereof in person
or by duly authorized Attorney upon the surrender of this Certificate properly
endorsed.

The designation, rights, privileges, restrictions, preferences and other terms
and provisions of the Series A Preferred Stock represented hereby are issued and
shall in all respects be subject to the provisions of the Amended and Restated
Certificate of Incorporation of the Corporation, as the same may be amended from
time to time (the "Certificate of Incorporation"). The Corporation will provide
a copy of the Amended and Restated Certificate of Incorporation to a Holder
without charge upon written request to the Corporation at its principal place of
business.

Reference is hereby made to the Amended and Restated Certificate of
Incorporation, which shall for all purposes have the same effect as if set forth
at this place. Upon receipt of this certificate, the Holder is bound by the
Amended and Restated Certificate of Incorporation and is entitled to the
benefits thereunder.

IN WITNESS WHEREOF, the said Corporation has caused this Certificate to be
signed by its duly authorized officers and to be sealed with the Seal of the
Corporation, this *** day of ***** A.D. 200*.

/s/ JULIE G. LYNN            [Corporate Seal]        /s/ CHARLES F. RYAN III
-----------------                                    -----------------------
Secretary                                            President

                                     II-46
<PAGE>

                                     [Back]

For Value Received, _________________ hereby sells, assign and transfer unto
____________ _________________________ Shares represented by the written
Certificate, and do hereby irrevocably constitute and appoint
______________________ Attorney to transfer the said Shares on the books of the
within named Corporation with full power of substitution in the premises.

Dated _________________________200_
In the presence of

--------------------------------             --------------------------------

THIS SPACE IS NOT TO BE COVERED IN ANY WAY

                                     II-47

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