Document:

Exhibit 4.03

 

Amendment No. 2

to

Rights Agreement

of NuStar GP Holdings, LLC

(f/k/a Valero GP Holdings, LLC)

 

This Amendment No. 2 (this “Amendment”), to the Rights Agreement, dated as of July 19, 2006, between NuStar GP Holdings, LLC (f/k/a Valero GP Holdings, LLC), a Delaware limited liability company (the “Company”), and Computershare Trust Company, N.A., successor rights agent to Computershare Investor Services, LLC (the “Rights Agent”), as amended by that certain Amendment No. 1 to the Rights Agreement entered into effective as of February 28, 2008 (as so amended, the “Rights Agreement”) is entered into effective as of October 23, 2012 by and between the Company and the Rights Agent. Capitalized terms used but not defined herein are used as defined in the Rights Agreement.

 

RECITALS

 

WHEREAS, pursuant to and in compliance with Section 27 of the Rights Agreement, the Company and the Rights Agent wish to amend the Rights Agreement as set forth herein;

 

WHEREAS, the Company deems it in the best interest of the Company to effect this Amendment in order to amend Section 1 of the Rights Agreement;

 

NOW, THEREFORE, in light of the foregoing, it is hereby agreed as follows:

 

AMENDMENT

 

1.             Section 1 of the Rights Agreement shall be amended to amend and restate the definition of “Exempt Person” in its entirety as follows:

 

“ “Exempt Person” shall mean (i) William E. Greehey, unless such Person shall become the Beneficial Owner of any Company Securities other than (a) 6,116,643 Units (appropriately adjusted for any unit split, reverse unit split or distribution) owned on February 28, 2008 (the “Greehey Original Units”), plus (b) such number of additional Units (appropriately adjusted for any unit split, reverse unit split or distribution) which, together with the Greehey Original Units, shall be less than 20% of the Units of the Company then outstanding and (ii) Neuberger Berman Group LLC, unless such Person shall become the Beneficial Owner of any Company Securities other than (x) 6,208,544 Units (appropriately adjusted for any unit split, reverse unit split or distribution) beneficially owned on June 30, 2012 (the “NBG Original Units”), plus (y) such number of additional Units (appropriately adjusted for any unit split, reverse unit split or distribution) which, together with the NBG Original Units, shall be less than 17.5% of the Units of the Company then outstanding. A purchaser, assignee or transferee of Units from an Exempt Person shall not thereby become an Exempt Person, except that a transferee from the estate of an Exempt Person who receives Units as a bequest or inheritance from an Exempt Person shall be an Exempt Person so long as such Person continues to be the Beneficial Owner of 15% or more of the then outstanding Units.”

 

 

2.             This Amendment may be executed in counterparts, each of which shall be deemed an original, but all of which shall constitute one and the same instrument.  A signature to this Amendment transmitted electronically shall have the same authority, effect, and enforceability as an original signature.

 

3.             Except as hereby amended, the Rights Agreement shall remain in full force and effect.

 

4.             This Amendment shall be governed by, and interpreted in accordance with, the laws of the State of Delaware.

 

5.             Each provision of this Amendment shall be considered severable and if for any reason any provision or provisions herein are determined to be invalid, unenforceable or illegal under any existing or future law, such invalidity, unenforceability or illegality shall not impair the operation of or affect those portions of this Amendment that are valid, enforceable and legal.

 

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2

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and attested, all as of the day and year first above and written.

 

 

	
 
    	
NUSTAR   GP HOLDINGS, LLC
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Amy L.Perry
    
	
 
    	
Name:
    	
Amy   L. Perry
    
	
 
    	
Title:
    	
Corporate   Secretary
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
COMPUTERSHARE   TRUST
    
	
 
    	
COMPANY,   N.A., as Rights Agent
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Robert A. Buckley
    
	
 
    	
Name:
    	
Robert   A. Buckley
    
	
 
    	
Title:
    	
Senior Vice President
    
	
 
    	
Date:
    	
October 29, 2012
    

 

3Exhibit 10.1

 

UNIT PURCHASE AGREEMENT

 

Unit
Purchase Agreement (this “Agreement”), dated October 25, 2012, among Eyefly LLC (the “Company”),
Bluefly, Inc., a Delaware corporation (“Bluefly”), A+D Labs LLC, a Delaware limited liability Company (“A+D”)
and Tworoger Associates, Ltd (“Modo”).

 

R E C I T A L S:

 

A.       Bluefly
and A+D are the Founding Members of, and own all of the issued and outstanding Units in, the Company, to wit: Bluefly owns 4,420,000
Class A Common Units (the “Bluefly Units”) and A+D owns 4,080,000 Class A Common
Units. 

 

B.       Bluefly, A+D and the Company
are parties to an Operating Agreement, dated January 4, 2011, with respect to the Company (the “Operating Agreement”).

 

C.       Bluefly is a party to a Management
Services Agreement dated January 4, 2012 with the Company (the “Bluefly Agreement”) and Modo, an Affiliate of
A+D is a party to a Management Services Agreement dated January 4, 2012 with the Company (the “A+D Agreement”).
As of the date hereof, the Company is indebted to Bluefly pursuant to the Bluefly Agreement for Service Provider Fees in the amount
of $246,294 (the “Bluefly Account”) and the Company is indebted to Modo pursuant to the Modo Agreement for Service
Provider Fees in the amount of $221,705 (the “Modo Account”).

 

D.       A+D wishes to purchase the Bluefly
Units, and Bluefly wishes to Transfer the Bluefly Units to A+D, upon the terms and conditions herein set forth.

 

It is agreed as follows:

1.         Definitions. Except as otherwise set forth herein, capitalized terms shall have the meanings ascribed to those terms
in the Operating Agreement.

 

2.          Purchase and Sale. For the
purchase price of One Hundred Thousand ($100,000.00) Dollars (the “Price”), Bluefly hereby sells and assigns
to A+D, and A+D hereby purchases from Bluefly, all of Bluefly’s right, title and interest in and to the Bluefly Units, free
and clear of all liens, mortgages, pledges, security interests, claims, restrictions or other encumbrances, or charges or defects
of title of any nature whatsoever (“Liens”). The closing of the Transfer will take place simultaneously with
the execution of this Agreement. A+D shall pay $50,000.00 of the Price by wire transfer to Bluefly simultaneously with the execution
of this Agreement, and the remaining $50,000.00 shall be paid in ten installments of $5,000.00 each, with such installments being
due on each of the next ten monthly anniversaries of the date hereof.

 

2.1Deliveries. At the Closing,
Bluefly shall deliver to A+D: (i) the Assignment of Units attached as Exhibit 2.1-1 hereto, (ii) the Assignment of Domain Names
attached as Exhibit 2.1-2 hereto, (iii) the resignations of Joseph Park and Kara Jenny as Managers appointed by Bluefly to the
Company’s Board of Managers, and (iv) the resignations of all current officers of the Company.

 

3.          Representations and Warranties
of Bluefly. Bluefly hereby represents and warrants and covenants to A+D, except as arising from the execution and performance
of this Agreement, as follows:

 

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(a)Authority. Bluefly has
full legal capacity to execute and deliver and to perform its obligations under this Agreement, and to consummate the transactions
contemplated hereby. This Agreement has been duly and validly executed and delivered by Bluefly and constitutes the legal, valid
and binding obligation of Bluefly, enforceable against Bluefly in accordance with its terms, subject to the effect of applicable
bankruptcy, insolvency and similar laws affecting the enforcement of creditors’ rights generally, and to general principles
of equity, whether applied in a proceeding at law or in equity.

 

(b)Title to the Bluefly Units.
Bluefly is the lawful owner, of record and beneficially, of the Bluefly Units and has good and marketable title to such Units,
free and clear of any Liens, other than Liens released from Bluefly’s lender released as of the Closing and Liens created
under the Operating Agreement. Other than the Bluefly Units, Bluefly does not own any other interest in the Company, including,
options, rights, warrants or other securities able to be converted, exchanged or exercised for or into ownership interests of the
Company.

 

(c) Non-Contravention. The
execution, delivery and performance of this Agreement by Bluefly and the consummation of the transactions contemplated hereby do
not and will not: (i) contravene or result in a violation or breach of any applicable law, ordinance or regulation or any order,
writ, award, judgment, decree or other determination which affects or binds Bluefly or any of its assets or properties; or (ii)
conflict with, result in a violation of, constitute a default (with or without notice or lapse of time, or both) under, or give
rise to a right of acceleration, termination or the imposition of penalties under any contract, deed of trust, mortgage, trust,
lease, indenture, permit, franchise, governmental or other license, permit or other authorization, contract, agreement, note or
any other agreement, instrument or restriction to which Bluefly is a party or by which any of its assets or properties may be affected
or bound.

 

It is understood and agreed that Bluefly
makes no representations and warranties with respect to the Company and its business.

 

4.          Representations and Warranties
of A+D. A+D hereby represents and warrants and covenants to Bluefly, except as arising from the execution and performance
of this Agreement, as follows:

 

(a)Authority. A+D
has full legal capacity to execute and deliver and to perform its obligations under this Agreement, and to consummate the transactions
contemplated hereby. This Agreement has been duly and validly executed and delivered by A+D and constitutes the legal, valid
and binding obligation of A+D, enforceable against A+D in accordance with its terms, subject to the effect of applicable
bankruptcy, insolvency and similar laws affecting the enforcement of creditors’ rights generally, and to general principles
of equity, whether applied in a proceeding at law or in equity.

 

(b)Non-Contravention. The
execution, delivery and performance of this Agreement by A+D and the consummation of the transactions contemplated hereby
do not and will not: (i) contravene or result in a violation or breach of any applicable law, ordinance or regulation or any order,
writ, award, judgment, decree or other determination which affects or binds A+D or any of its assets or properties; or (ii)
conflict with, result in a violation of, constitute a default (with or without notice or lapse of time, or both) under, or give
rise to a right of acceleration, termination or the imposition of penalties under any contract, deed of trust, mortgage, trust,
lease, indenture, permit, franchise, governmental or other license, permit or other authorization, contract,

 

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agreement, note or
any other agreement, instrument or restriction to which A+D is a party or by which any of its assets or properties may be
affected or bound.

 

5.          Trademarks, Service Marks and
Domain Names. Based on commercially reasonable efforts to identify the same, Bluefly believes that the domain names set forth
on Schedule A to the form Assignment of Domain Names attached hereto as Exhibit 2.1-2, represent the only domain names registered
in its name or any Affiliate other than the Company that contains the term “Eyefly” or were otherwise obtained for
use with respect to the Company’s business (“Eyefly Domain Names”), it being understood and agreed that a domain
name shall not be deemed an Eyefly Domain Name as a result of containing the word “fly.” In the event that, following
the Closing, the parties become aware of additional Eyefly Domain Names registered in Bluefly’s name or in the name of a
Bluefly Affiliate, Bluefly shall promptly file an Assignment of Domain Names in the form attached hereto as Exhibit 2.1-2 with
respect to such additional Eyefly Domain Names. Within five (5) business days of the Closing, A+D will ensure that the Eyefly website
and all Eyefly materials are modified such that Bluefly is not described as an owner or in any way affiliated or associated with
Eyefly. Bluefly covenants and agrees that it will not anytime in the future, directly or indirectly, for itself or any Affiliate,
without the written consent of A+D and the Company in advance, own, apply for or register any trademark, service mark or domain
name that contains the term “Eyefly” or any term substantially similar to the term “Eyefly” (an “Eyefly
Use”) anywhere in the world, it being understood that a trademark, service mark or domain name shall not be deemed an Eyefly
Use as a result of containing the word “fly” unless it contains in addition to the word “fly” a term related
to eyewear (for example, “opticfly” “eyewearfly” or “glassesfly.

 

6.          Indemnification. Each party
agrees to indemnify and fully defend the other, and save and hold the other harmless, from and against any damage, liability, loss,
claim, cost, expense (including all reasonable attorney’s fees), deficiency, interest, penalty, imposition, assessment or
fine arising out of or resulting from any breach or violation of any representation, warranty or covenant of the indemnifying party
under this Agreement. In addition, A+D and the Company agree to indemnify and fully defend Bluefly, and save and hold Bluefly harmless,
from and against any damage, liability, loss, claim, cost, expense (including all reasonable attorney’s fees), deficiency,
interest, penalty, imposition, assessment or fine arising out of or resulting from the operation of the Company’s business
after the Closing.

 

7.          Termination of Bluefly Agreement;
Conversion of Accounts to Loans. Effective upon the closing, (i) the Bluefly Agreement shall terminate and be of no further
force or effect; (ii) of the Bluefly Account, $61,573.50 shall be converted to a non-interest bearing loan by Bluefly to the Company
(the “Bluefly Loan”) and the balance of the Bluefly Account ($184,720.50) shall be deemed forgiven, and (iii)
the Modo Account shall be converted to a non-interest bearing loan by Modo to the Company in the amount of such Account (the “Modo
Loan”). Each such loan shall be repayable at such time as cash becomes available, provided, however, the Modo Loan shall
be subordinate to the Bluefly Loan and no part of the Modo Loan shall be repaid, and no other Restricted Payments (as hereinafter
defined) shall be made, unless and until the Bluefly Loan has been repaid in full. For the avoidance of doubt, the foregoing subordination
of the Modo Loan to the Bluefly Loan shall not limit or otherwise affect the obligations of the Company to make payments to Modo
under the Modo Agreement on obligations thereunder accruing from and after the closing. For purposes hereof, the term “Restricted
Payments” shall

 

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mean: (a) any distributions to members of the Company (other than distributions for the sole purpose of compensating
members for income taxes payable on income allocated to them by the Company); and (b) any payments to members of the Company and
their affiliates, other than payments made for goods and services provided to the Company at cost.

 

8.          Termination of Rights Under Operating
Agreement. Upon the closing of the Transfer of the Bluefly Units to A+D, all the rights and obligations of Bluefly under the
Operating Agreement, including but not limited to the Call Option under Section 19.10 thereof and the provisions of Section 20.2,
shall terminate.

 

9.          Miscellaneous.

 

Governing Law.
This Agreement, and any claim, controversy or dispute arising under or related to this Agreement, the relationship of the parties,
and/or the interpretation and enforcement of the rights and duties of the parties, will be governed by the laws of the State of
New York without regard to principles of choice of laws.

 

Entire Agreement;
Waiver. This Agreement constitutes the entire agreement between the parties, supersedes any and all other agreements, either
oral or in writing, between the parties with respect to the subject matter hereof, and except as otherwise set forth in this Agreement
may be modified or amended only by an agreement in writing signed by both parties. No covenant, term or condition of this Agreement
or breach thereof shall be deemed waived unless the waiver is in writing, signed by the party against whom enforcement is sought,
and any waiver shall not be deemed to be a waiver of any preceding or succeeding breach of the same or any other covenant, term
or condition.

 

Severability.
If any term, provision, covenant or condition of this Agreement is held by a court of competent jurisdiction to be invalid, void
or unenforceable, the remaining portions of this Agreement shall remain in full force and effect and shall not be affected or invalidated.

 

Survival. All
representations, warranties, covenants and obligations in this Agreement shall survive the closing.

 

Assignment; Successors.
This Agreement is binding upon, and shall inure to the benefit of, each of the parties hereto and their respective successors and
assigns.

 

No Third Party Beneficiaries.
This Agreement is for the sole benefit of the parties hereto, and their respective successors, permitted assigns and affiliated
individuals, companies and entities, and nothing herein, express or implied, is intended to, or shall be construed to, provide
or create any legal or equitable rights or benefits to any individual, company or entity other than such parties.

 

Counterparts; Signatures.
This Agreement may be executed in counterparts, each of which shall be deemed an original, but both of which shall constitute the
same instrument. Facsimile and scanned signatures shall be deemed original signatures.

 

[Signature Page Follows]

 

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IN WITNESS WHEREOF,
each of the parties hereto has executed this Agreement as of the day and year first above written.

 

 

	 	Bluefly, Inc.	 
	 	 	 	 
	 	By:	/s/ Joseph Park	 
	 	Name:	Joseph Park	 
	 	Title:	Chief Executive Officer	 
	 	 	 	 
	 	A+D Labs LLC	 
	 	 	 	 
	 	By:	/s/ Alessandro Lanaro	 
	 	Name:	Alessandro Lanaro	 
	 	Title:	Manager	 
	 	 	 	 
	 	Tworoger Associates, Ltd.	 
	 	 	 	 
	 	By:	/s/ Alessandro Lanaro	 
	 	Name:	Alessandro Lanaro	 
	 	Title:	President	 
	 	 	 	 
	 	Eyefly LLC	 
	 	 	 	 
	 	By:	/s/ Alessandro Lanaro	 
	 	Name:	Alessandro Lanaro	 
	 	Title:	Manager	 

 

 

 

 

 

 

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