Document:

Exhibit 4.6

 

SECOND SUPPLEMENTAL INDENTURE

 

This Supplemental Indenture, dated as of December 15, 2010, (this “Supplemental Indenture”), by and between Marquee Holdings Inc. (together with its successors and assigns, the “Company”) and HSBC Bank USA, National Association, as Trustee (the “Trustee”) under the Indenture referred to below.

 

W I T N E S S E T H:

 

WHEREAS, the Company and the Trustee have heretofore executed and delivered an Indenture, dated as of August 18, 2004 (the “Base Indenture”), as supplemented by the First Supplemental Indenture, dated as of June 12, 2007 (the “First Supplemental Indenture” and, together with the Base Indenture, the “Indenture”), by and between the Company and the Trustee, providing for the issuance of 12% Senior Discount Notes due 2014 of the Company (the “Securities”);

 

WHEREAS, this Supplemental Indenture is being executed pursuant to the Company’s Offer to Purchase and Consent Solicitation Statement, dated December 1, 2010 (the “Statement”), and the related Letter of Transmittal and Consent;

 

WHEREAS, Section 9.02 of the Indenture provides that the Company and the Trustee may amend the Indenture “with the written consent of the Holders of at least a majority in aggregate principal amount at maturity of the Securities then outstanding (including consents obtained in connection with a tender offer or exchange offer for the Securities)”, subject to certain exceptions specified in Section 9.02 of the Indenture;

 

WHEREAS, the parties hereto are entering into this Supplemental Indenture to (i) eliminate certain definitions and references to definitions contained in Sections 1.01 and 1.02, respectively, of the Indenture; (ii) amend Section 3.03 of the Indenture to reduce the required number of days in advance of a redemption date by which notice of a redemption is required to be given by the Company to the Holders; (iii) eliminate certain restrictive covenants contained in Article 4 of the Indenture; (iv) eliminate certain conditions to mergers, consolidations and sales of assets contained in Section 5.01 of the Indenture; (v) eliminate certain Events of Default contained in Section 6.01 of the Indenture; and (vi) eliminate all references in the Indenture or the Securities to sections to be eliminated in accordance with the preceding clauses (i), (ii), (iii), (iv) and (v) (collectively, the “Amendments”);

 

WHEREAS, the Amendments described in the preceding paragraph require the written consent of the Holders of at least a majority in aggregate principal amount at maturity of the Securities outstanding;

 

WHEREAS, the execution and delivery of this Supplemental Indenture and the adoption of the Amendments by the Company and the Trustee have been authorized by the written consent of the Holders of a majority in aggregate principal amount at maturity of the Securities outstanding as of the date hereof; and

 

 

WHEREAS, the execution and delivery of this Supplemental Indenture by the Company have been authorized by a resolution of its Board of Directors, and all acts, conditions and requirements necessary to make this Supplemental Indenture a valid and binding agreement in accordance with its terms and for the purposes herein set forth have been done and taken, and the execution and delivery of this Supplemental Indenture have been in all respects duly authorized;

 

NOW, THEREFORE, in consideration of the above premises, each party hereto agrees, for the benefit of the other party and for the equal and ratable benefit of the Holders of the Securities, as follows:

 

SECTION 1.                              Definitions.

 

(a)                                  As used in this Supplemental Indenture, terms defined in the Indenture or in the preamble or recital hereto are used herein as therein defined.  The words “herein,” “hereof” and “hereby” and other words of similar import used in this Supplemental Indenture refer to this Supplemental Indenture as a whole and not to any particular section hereof.

 

(b)                                 The definitions of all terms defined in Section 1.01, and the references to other definitions set forth in Section 1.02, of the Indenture that appear only in Section 4.03, 4.04, 4.05, 4.06, 4.07, 4.08, 4.09, 4.10, 4.11, 4.14, 4.16, 4.17, 5.01(b), 5.01(c), 5.01(d), 6.01(d), 6.01(e), 6.01(f), or 6.01(g) of the Indenture are hereby deleted from Section 1.01 or Section 1.02, as the case may be.

 

SECTION 2.                              Amendment of Section 3.03 of the Indenture.

 

(a)                                  The first paragraph of Section 3.03 of the Indenture, entitled “Notice of Redemption”, is hereby amended and restated to read in its entirety as follows:

 

“Section 3.03  Notice of Redemption.  At least three (3) days but not more than sixty (60) days before a date for redemption of Securities, the Company shall mail a notice of redemption by first-class mail to each Holder of Securities to be redeemed.”

 

SECTION 3.                              Elimination of Certain Provisions of Article 4 of the Indenture.

 

(a)                                  Section 4.03 of the Indenture, entitled “Payment of Taxes and Other Claims”, is hereby deleted in its entirety, together with any references thereto in the Indenture or the Securities.

 

(b)                                 Section 4.04 of the Indenture, entitled “Maintenance of Properties”, is hereby deleted in its entirety, together with any references thereto in the Indenture or the Securities.

 

(c)                                  Section 4.05 of the Indenture, entitled “Limitation on Consolidated Indebtedness”, is hereby deleted in its entirety, together with any references thereto in the Indenture or the Securities.

 

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(d)                                 Section 4.06 of the Indenture, entitled “Limitation on Restricted Payments”, is hereby deleted in its entirety, together with any references thereto in the Indenture or the Securities.

 

(e)                                  Section 4.07 of the Indenture, entitled “Limitation on Transactions with Affiliates”, is hereby deleted in its entirety, together with any references thereto in the Indenture or the Securities.

 

(f)                                    Section 4.08 of the Indenture, entitled “Future Guarantors”, is hereby deleted in its entirety, together with any references thereto in the Indenture or the Securities.

 

(g)                                 Section 4.09 of the Indenture, entitled “Limitation on Liens”, is hereby deleted in its entirety, together with any references thereto in the Indenture or the Securities.

 

(h)                                 Section 4.10 of the Indenture, entitled “Change of Control”, is hereby deleted in its entirety, together with any references thereto in the Indenture or the Securities.

 

(i)                                     Section 4.11 of the Indenture, entitled “Provision of Financial Information”, is hereby deleted in its entirety, together with any references thereto in the Indenture or the Securities.

 

(j)                                     Section 4.14 of the Indenture, entitled “Activities of Marquee”, is hereby deleted in its entirety, together with any references thereto in the Indenture or the Securities.

 

(k)                                  Section 4.16 of the Indenture, entitled “Limitation on Ability of Company to Release Funds from Escrow”, is hereby deleted in its entirety, together with any references thereto in the Indenture or the Securities.

 

(l)                                     Section 4.17 of the Indenture, entitled “Payment for Consent”, is hereby deleted in its entirety, together with any references thereto in the Indenture or the Securities

 

SECTION 4.                              Elimination of Certain Provisions of Article 5 of the Indenture.

 

(a)                                  Clause (b) of Section 5.01 of the Indenture is hereby deleted in its entirety, together with any references thereto in the Indenture or the Securities.

 

(b)                                 Clause (c) of Section 5.01 of the Indenture is hereby deleted in its entirety, together with any references thereto in the Indenture or the Securities.

 

(c)                                  Clause (d) of Section 5.01 of the Indenture is hereby deleted in its entirety, together with any references thereto in the Indenture or the Securities.

 

SECTION 5.                              Elimination of Certain Provisions of Article 6 of the Indenture.

 

(a)                                  Clause (d) of Section 6.01 of the Indenture is hereby deleted in its entirety, together with any references thereto in the Indenture or the Securities.

 

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(b)                                 Clause (e) of Section 6.01 of the Indenture is hereby deleted in its entirety, together with any references thereto in the Indenture or the Securities.

 

(c)                                  Clause (f) of Section 6.01 of the Indenture is hereby deleted in its entirety, together with any references thereto in the Indenture or the Securities.

 

(d)                                 Clause (g) of Section 6.01 of the Indenture is hereby deleted in its entirety, together with any references thereto in the Indenture or the Securities.

 

SECTION 6.                              Effectiveness of the Supplemental Indenture.

 

(a)                                  This Supplemental Indenture, and the Amendments, will come into full force and effect automatically (without any further act by any Person) upon written notice to the Trustee by the Company that it has accepted for purchase, and paid for, all Securities validly tendered (and not withdrawn) prior to the expiration date of the Company’s offer to purchase and related solicitation of consents pursuant to the Statement and the related Letter of Transmittal and Consent.  The Company hereby certifies that the conditions described in this Section 6 have been satisfied as of the date hereof.

 

SECTION 7.                              Miscellaneous.

 

(a)                                  Nothing expressed or mentioned herein is intended or shall be construed to give any Person, firm or corporation, other than the Holders and the Trustee, any legal or equitable right, remedy or claim under or in respect of this Supplemental Indenture or the Indenture or any provision herein or therein contained.

 

(b)                                 This Supplemental Indenture shall be governed by, and construed in accordance with, the laws of the State of New York.

 

(c)                                  Except as expressly amended hereby, the Indenture is in all respects ratified and confirmed and all the terms, conditions and provisions thereof shall remain in full force and effect.  This Supplemental Indenture shall form a part of the Indenture for all purposes, and every Holder of Securities heretofore or hereafter authenticated and delivered shall be bound hereby.

 

(d)                                 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 are made solely by the Company.

 

(e)                                  The parties hereto may sign one or more copies of this Supplemental Indenture in counterparts, all of which together shall constitute one and the same agreement.

 

(f)                                    The headings of the Articles and the Sections in this Supplemental Indenture are for convenience of reference only and shall not be deemed to alter or affect the meaning or interpretation of any provisions hereof.

 

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

 

	
 
  	
MARQUEE HOLDINGS INC.
  
	
 
  	
 
  
	
 
  	
 
  
	
 
  	
By: 
  	
/s/ Authorized Signatory
  
	
 
  	
 
  
	
 
  	
Name:
  
	
 
  	
Title:
  
	
 
  	
 
  
	
 
  	
 
  
	
 
  	
HSBC BANK USA, NATIONAL ASSOCIATION, as Trustee
  
	
 
  	
 
  
	
 
  	
 
  
	
 
  	
By: 
  	
/s/ Authorized Signatory
  
	
 
  	
 
  
	
 
  	
Name:
  
	
 
  	
Title:
  

 

Signature Page to Marquee Notes Supplemental IndentureExhibit 10.1

 

QUAD/GRAPHICS, INC.

2010 OMNIBUS INCENTIVE PLAN

STOCK OPTION AWARD

 

[Name and Address of Option Recipient]

 

You have been granted an option (your “Option”) to purchase shares of the Class A Common Stock (“Shares”) of Quad/Graphics, Inc. (the “Company”) under the Quad/Graphics, Inc. 2010 Omnibus Incentive Plan (the “Plan”) with the following terms and conditions:

 

	
Grant Date:
  	
 
  	
[                          ]
  
	
 
  	
 
  	
 
  
	
Type of Option:
  	
 
  	
Nonqualified Stock Option
  
	
 
  	
 
  	
 
  
	
Number of Option Shares:
  	
 
  	
[                          ]
  
	
 
  	
 
  	
 
  
	
Exercise Price per Share:
  	
 
  	
U.S. $[    .    ]
  
	
 
  	
 
  	
 
  
	
Vesting:
  	
 
  	
One-third of your Option will vest and become exercisable on each of the second, third and fourth anniversaries of the Grant Date, provided, in the case of each one-third, that you remain in continuous employment or service until the applicable vesting date. 

 

The vesting of your Option will accelerate in the following circumstances: 

 

·                                          If you are continuously employed with, or in the service of, the Company or its Affiliates through the date preceding the date of a “Change in Control” (as defined below), then this Option will vest in full on the date of such Change in Control 

 

·                                          If your employment or service relationship with the Company and its Affiliates is terminated as a result of your death or disability (within the meaning of Code Section 22(e)(3)), then this Option will vest in full on the date of such termination. 

 

·                                          If your employment or service relationship with the Company and its Affiliates terminates as a result of your retirement upon or after age 65, then this Option will vest in full on the date of retirement. 

 

Except as otherwise provided above, upon your termination of employment with, or cessation of services to, the Company and its Affiliates, the unvested portion of your Option will immediately terminate.
  

 

 

	
 
  	
 
  	
For purposes of this Award, a “Change in Control” means any event which results in the legal or beneficial ownership of shares of voting stock of the Company granting the holder or holders thereof a majority of the votes for the election of the majority of the Board of Directors (or other supervisory board) of the Company being owned by any person or entity (or group of persons or entities acting in concert) other than any one or more of the following acting alone or in concert: (i) the respective spouses and descendants of Harry V. Quadracci, Harry R. Quadracci or Thomas A. Quadracci and/or the spouses of any such descendants, (ii) the respective executors, administrators, guardians or conservators of the estates of any Harry V. Quadracci, Harry R. Quadracci, Thomas A Quadracci or the Persons descried in clause (i) above, (iii) trustees holding shares of voting stock of the Company for the benefit of any of the persons described in clause (i) or (ii) above and (iv) any employee stock ownership or other benefit plan of the Company (together, the “Permitted Holders”). Notwithstanding the foregoing, the transfer of legal or beneficial ownership of any of the shares of voting stock of the Company to a new entity shall not be a Change in Control if a majority of the voting stock of such new entity is owned by Permitted Holders. In the event such a transfer occurs, the foregoing definition of “Change in Control” shall be construed with respect to the new entity that owns all of the voting stock of the Company (as opposed to the Company itself).
  
	
 
  	
 
  	
 
  
	
Termination Date:
  	
 
  	
Your Option expires at, and cannot be exercised after, the close of business at the Company’s headquarters on the earliest to occur of:

 

·                                          The tenth (10th) anniversary of the Grant Date; 

 

·                                          24 months after your termination of employment or service as a result of death; 

 

·                                          36 months after your termination of employment or service upon retirement or as a result of disability (within the meaning of Code Section 22(e)(3)); or 

 

·                                          90 days after your termination of employment or service for any other reason, provided that if you die during this 90-day period, the exercise period will be extended until 24 months after the date of your death. 

 

If the date this Option terminates as specified above falls on a day on which the stock market is not open for trading or on a date on which you are prohibited by Company policy (such as an insider trading policy) from exercising the Option, the termination date shall be automatically extended to the first available trading day following 
  

 

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the original termination date, but not beyond the tenth (10th) anniversary of the Grant Date.
  
	
 
  	
 
  	
 
  
	
Manner of Exercise:
  	
 
  	
You may exercise your Option only to the extent vested and only if it has not terminated. To exercise your Option, you must complete the “Notice of Stock Option Exercise” form provided by the Company and return it to the address or send it via facsimile or email as indicated on the form. The form will be effective when it is received by the Company, but exercise will not be completed until you pay the total exercise price and all applicable withholding taxes due as a result of the exercise to the Company. 

 

If someone else wants to exercise your Option after your death, that person must contact the Company and prove to the Company’s satisfaction that he or she is entitled to do so. 

 

Your ability to exercise your Option may be restricted by the Company if required by applicable law.
  
	
 
  	
 
  	
 
  
	
Restrictions on Resale:
  	
 
  	
By accepting your Option, you agree not to sell any Shares acquired under your Option at a time when applicable laws, Company policies or an agreement between the Company and its underwriters prohibit a sale.
  
	
 
  	
 
  	
 
  
	
Restrictions on Transfer:
  	
 
  	
During your lifetime, this Option is only exercisable by you. You may not transfer, pledge or assign this Option, by operation of law or otherwise, except pursuant to your will or the laws of descent and distribution. If you attempt to transfer, assign, pledge, hypothecate or otherwise dispose of this Option, except as provided above, or in the event this Option is subject to levy or attachment, execution or similar process, the Company may terminate this Option by providing written notice to you.
  
	
 
  	
 
  	
 
  
	
Recoupment; Rescission of Exercise
  	
 
  	
If the Committee determines that recoupment of incentive compensation paid to you pursuant to your Option is required under any law or any recoupment policy of the Company, then your Option will terminate immediately on the date of such determination to the extent required by such law or recoupment policy, any prior exercise of such Option may be deemed to be rescinded, and the Committee may recoup any such incentive compensation in accordance with such recoupment policy or as required by law. The Company shall have the right to offset against any other amounts due from the Company to you the amount owed by you hereunder and any exercise price and withholding amount tendered by you with respect to any such incentive compensation.
  
	
 
  	
 
  	
 
  
	
Miscellaneous:
  	
 
  	
·                                          As a condition of the granting of your Option, you agree, for yourself and your legal representatives or guardians, that this
  

 

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Stock Option Award shall be interpreted by the Committee and that any interpretation by the Committee of the terms of this Stock Option Award or the Plan and any determination made by the Committee pursuant to this Stock Option Award or the Plan shall be final, binding and conclusive. 

 

·                                          Subject to the terms of the Plan, the Committee may modify or amend this Stock Option Award without your consent as permitted by Section 17(a) of the Plan or: (i) to the extent such action is deemed necessary by the Committee to comply with any applicable law or the listing requirements of any principal securities exchange or market on which shares of the Company’s Class A Common Stock are then traded; (ii) to the extent the action is deemed necessary by the Committee to preserve favorable accounting or tax treatment of any Award for the Company; or (iii) to the extent the Committee determines that such action does not materially and adversely affect the value of this Stock Option Award or that such action is in the best interest of you or any other person who may then have an interest in this Stock Option Award. 

 

·                                          Notwithstanding the foregoing, this Stock Option Award may not be amended, and the Company may not take any other action the effect of which is,  to reduce the Exercise Price per Share other than (i) pursuant to Section 17(a) of the Plan, and in accordance with Section 1.409A-1(b)(5)(v)(B) of the Treasury Regulations, or (ii) in connection with a transaction which is considered the grant of a new option for purposes of Section 409A of the Code, provided that the new Exercise Price per Share is not less than Fair Market Value of a Share on the new grant date. 

 

·                                          As a condition of the granting of your Option, you acknowledge and agree that this Stock Option Award and the Plan constitute the entire agreement of the parties with respect to the subject matter of this Stock Option Award and the Plan. 

 

·                                          This Stock Option Award may be executed in counterparts.
  

 

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Your Option is granted under and governed by the terms and conditions of the Plan.  Additional provisions regarding your Option and definitions of capitalized terms used and not defined in your Option can be found in the Plan.

 

BY SIGNING BELOW AND ACCEPTING THIS STOCK OPTION AWARD, YOU AGREE TO ALL OF THE TERMS AND CONDITIONS DESCRIBED HEREIN AND IN THE PLAN.  YOU ALSO ACKNOWLEDGE RECEIPT OF THE PLAN.

 

	
QUAD/GRAPHICS, INC.
  	
 
  
	
 
  	
 
  
	
 
  	
 
  
	
By:
  	
 
  	
 
  	
 
  
	
 
  	
[Name of Authorized Officer]
  	
 
  	
[Name of Option Recipient], Optionee
  
	
 
  	
 
  	
 
  
	
Date:
  	
 
  	
 
  

 

5

 

QUAD/GRAPHICS, INC.

NOTICE OF STOCK OPTION EXERCISE

 

Your completed form should be delivered to:                                                   ,                                                         .  Phone:

Fax:                                                                           .  Email:                                                      

Incomplete forms may cause a delay in processing your option exercise.

 

OPTIONEE INFORMATION

 

Please complete the following.  PLEASE WRITE YOUR FULL LEGAL NAME SINCE THIS NAME MAY BE ON YOUR STOCK CERTIFICATE.

 

	
Name:
  
	
 
  
	
Street Address:
  
	
 
  
	
City:
  	
 
  	
State:
  	
 
  	
Zip Code:
  
	
 
  
	
Work Phone #: (          ) -               -                  
  	
Home Phone #: (          ) -               -
  
	
 
  
	
Social Security #:              -            -
  
						

 

DESCRIPTION OF OPTION(S) BEING EXERCISED

 

Please complete the following for each option that you wish to exercise.

 

	
Grant Date
  	
 
  	
Exercise Price
 Per Share
  	
 
  	
Number of Option
 Shares Being
 Purchased
  	
 
  	
Total Exercise Price
 (multiply Exercise Price
 Per Share by Number of
 Option Shares Being
 Purchased)
  	
 
  
	
 
  	
 
  	
$
  	
 
  	
 
  	
 
  	
 
  	
$
  	
 
  	
 
  
	
 
  	
 
  	
$
  	
 
  	
 
  	
 
  	
 
  	
$
  	
 
  	
 
  
	
 
  	
 
  	
$
  	
 
  	
 
  	
 
  	
 
  	
$
  	
 
  	
 
  
	
 
  	
 
  	
$
  	
 
  	
 
  	
 
  	
 
  	
$
  	
 
  	
 
  
	
 
  	
 
  	
$
  	
 
  	
 
  	
 
  	
 
  	
$
  	
 
  	
 
  
	
 
  	
 
  	
Aggregate Exercise Price
  	
 
  	
$
  	
 
  	
 
  

 

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