Document:

AGREEMENT

AGREEMENT, dated February 8, 2008, among Clark-GLAC Investment, LLC, a Delaware limited liability company, or its assigns (the “Purchaser”), the undersigned individual persons (each an “Insider” and collectively the “Insiders”) and Global Logistics Acquisition Corporation, a Delaware corporation (the “Company”).

RECITALS:

A. 

The Company will hold a special meeting of its stockholders to consider and act upon, among other things, a proposal to adopt and approve the Stock Purchase Agreement (“Acquisition Agreement”) dated May 18, 2007, as amended, among the Company, The Clark Group, Inc. (“Clark”) and the stockholders of Clark, providing for the sale by the stockholders of Clark of all of the outstanding capital stock of Clark to the Company (the “Acquisition Proposal”). The Purchaser is an affiliate of certain stockholders of Clark.

B. 

The Insiders and the Company have advised the stockholders of Clark that certain persons who hold approximately 820,000 shares of the Company’s common stock sold in the Company’s initial public offering (“Public Shares”) have indicated their intention to vote against the Acquisition Proposal and convert their Public Shares into a pro rata portion of the trust fund established for the benefit of holders of Public Shares in connection with the initial public offering (the “Converting Stockholders”). 

C. 

In order to increase the likelihood of the approval of the Acquisition Proposal, the Purchaser has agreed to purchase the Public Shares (which are in addition to the 2,380,000 shares purchased by the Purchaser pursuant to that certain Agreement, dated February 1, 2008, by and among the Purchaser, the Insiders and the Company), and to vote such Public Shares in favor of the Acquisition Proposal at the special meeting, all upon the terms and conditions set forth herein.

D. 

GLAC and its Chairman and President have advised the Purchaser and the stockholders of Clark of their belief that upon the acquisition of the Public Shares by the Purchaser and the vote of such shares in favor of the Acquisition Proposal at the special meeting of stockholders of the Company scheduled to be held February 7, 2008, adjourned to February 8, 2008, and further adjourned to February 11, 2008, (i) a majority of the Public Shares are expected to be voted in favor of the Acquisition Proposal, and (ii) the 20% threshold of Public Shares whose holders must exercise their conversion rights in order to defeat the Acquisition Proposal and cause the liquidation of the Company should not be reached.

IT IS AGREED:

1. 

Purchase of Shares. The Purchaser agrees to use reasonable efforts to purchase up to 820,000 shares of common stock, par value $0.0001, of the Company from the Converting Stockholders prior to the special meeting at prices reasonably acceptable to the Purchaser. Such purchases shall be effected in open market transactions through a registered stock broker (or in non-market transactions).  Notwithstanding anything to the contrary herein, no such purchases shall be made at any time if, at the time of placing an order to purchase Public Shares, or, if purchases are to be made pursuant to a “10b5-1 Plan,” at the time such plan is instituted with a broker, the Purchaser is in possession of material information regarding the Company or Clark 

that has not been disclosed to the public.  As consideration for the Purchaser’s purchase of the Public Shares, the Company shall grant Purchaser demand and piggy-back registration rights with respect to such shares, with such registration rights being exercisable by Purchaser beginning six months following the closing of the transactions contemplated by the Acquisition Agreement (with a release from such six-month lock-up to be allowed for block trades or other significant trades that are effected in an orderly manner) and otherwise in accordance with the registration rights provided by the Company with respect to the founders shares as set forth in Section 4 below.

2. 

Voting of Shares. The Purchaser agrees to maintain ownership of such shares until the special meeting and to vote the Public Shares in favor of the Acquisition Proposal and the other proposals presented to the stockholders of the Company for consideration at the special meeting. In furtherance of the provisions of this Section 2, the Purchaser shall use reasonable efforts to obtain a proxy to such effect from the seller of the Public Shares or to cause such seller to vote the Public Shares in favor of the Acquisition Proposal. At the time of the special meeting, the Purchaser shall provide confirmation reasonably satisfactory to the Company that it has purchased up to 820,000 Public Shares and has used reasonable efforts to cause such Public Shares to be voted as provided for in this Section 2. 

3.

Put Option.  The Purchaser shall have the right, on written notice delivered within 30 days following the Purchaser’s purchase of the Public Shares, to cause Insiders James J. Martell, Gregory E. Burns and Charles Royce (collectively, the “Repurchasers”), to repurchase up to 120,000 of the Public Shares from the Purchaser at the price per share at which such Public Shares were purchased by Purchaser.  The Repurchasers shall repurchase the Public Shares subject to the option hereunder in cash within five business days of the date Purchaser’s written notice is delivered to the Repurchasers.  In the event that the Purchaser exercises its option hereunder, each Repurchaser will repurchase the number of shares listed next to such Repurchaser’s name on Schedule A.  Upon the Repurchasers’ repurchase of the Public Shares subject to the option hereunder, the Repurchasers shall have registration rights with respect to such shares similar to those provided to the Purchaser in Section 1.  

4. 

Insider Stock Transfers. In consideration of the purchases made by the Purchaser pursuant to this Agreement, if the Acquisition Proposal is approved and the transactions contemplated by the Acquisition Agreement are consummated, certain Insiders will transfer to the Purchaser up to 100,000 shares of the Company’s common stock, with 25,000 such shares transferred to the Purchaser from Mitchel Friedman at the time of the consummation of the transactions contemplated by the Acquisition Agreement.  The remaining 75,000 of such shares, 37,500 of which shall be transferred from each of  James J. Martell and Gregory E. Burns, shall be transferred upon their release from escrow pursuant to the terms of an escrow agreement to be entered into upon the consummation of the transactions contemplated by the Acquisition  Proposal providing for the release of such shares to the Purchaser if the price of the Company’s common stock equals or exceeds $11.50 per share for 20 out any 30 consecutive trading days during the period ending on the fifth anniversary of the closing of the transactions contemplated by the Acquisition Agreement.  If the condition described in the preceding sentence is not satisfied, the 75,000 escrowed shares shall be canceled with no further obligation on the part of the Insiders or the Company.  Such shares so transferred shall be unencumbered and, except as provided in the Lock-Up Agreements described below, shall be freely tradable by the Purchaser except for restrictions imposed by federal and state securities laws. Each Insider represents and 

2

warrants, with respect to himself only, that he is the beneficial owner of at least the number of shares that he is obligated to transfer pursuant to this Section 4 and that he has owned such shares since the time they were placed in escrow pursuant to Lock-Up Agreements dated February 21, 2006 between each Insider and BB&T Capital Markets, a Division of Scott & Stringfellow, Inc. The Purchaser acknowledges that, notwithstanding the transfer of such shares to the Purchaser, such shares remain subject to the provisions of such Lock-Up Agreements. Such shares will be entitled to registration rights pursuant to the Registration Rights Agreement dated February 21, 2006 (the “Registration Rights Agreement”) between the Company and the founders. Notwithstanding anything to the contrary in the Registration Rights Agreement, at any time after six months after the transfer of the shares transferred to the Purchaser pursuant to this Section 4, the Company will register such shares upon the demand of a majority-in-interest of the holders of such shares made pursuant to Section 2.1 of the Registration Rights Agreement.

5.  Proportional Reduction.  If the Purchaser acquires fewer than 820,000 shares pursuant to Section 1, the amounts of shares referenced in Sections 3 and 4 will be proportionally reduced.

6. Disclosure; Exchange Act Filings. Promptly upon execution of this Agreement, the Company will issue a press release describing this Agreement and file a Current Report on Form 8-K under the Securities Exchange Act of 1934, as amended (the “Exchange Act”) reporting such execution. Promptly upon the Purchaser making a purchase of Public Shares pursuant to this Agreement, the Purchaser will inform the Company thereof. The Company will thereupon issue a press release describing such purchase and file a Current Report on Form 8-K with respect thereto at such time that counsel advises is necessary or appropriate to do so. The Purchaser will also file any forms or schedules required to be filed by the Purchaser pursuant to Section 13 or Section 16 of the Exchange Act with respect to or as a result of such purchase. The parties to this Agreement shall cooperate with one another to assure that all such forms, schedules and reports and other disclosures are accurate and consistent.

7. Representation. The Company and Messrs. Martell and Burns each represents and warrants that all information in the Proxy Statement distributed to the stockholders of the Company in connection with the special meeting relating to the Company’s trust account and liabilities of the Company that could affect the trust account are true and correct as of this date in all material respects. Attached hereto as Schedule B is a list of amounts owed to vendors and others who have not waived their rights to collect amounts owed to them from funds in the trust account.

8. Entire Agreement; Amendment. This Agreement constitutes the entire agreement among the parties with respect to the subject matter hereof and may be amended or modified only by written instrument signed by all parties. The headings in this Agreement are for convenience of reference only and shall not alter or otherwise affect the meaning hereof. 

9. Governing Law. This Agreement shall be governed by and construed in accordance with the law of the State of New York, including the conflicts of law provisions and interpretations thereof. 

10. Counterparts. This Agreement may be executed in one or more counterparts, and by the different parties hereto in separate counterparts, each of which when executed shall be deemed to be an original but all of which taken together shall constitute one and the same 

3

agreement. Delivery of an executed signature page by facsimile or other electronic transmission shall be effective as delivery of a manually signed counterpart of this Agreement.

[Signature Page Follows]

 

 

 

4

[Signature Page to Agreement Dated February 8, 2008]

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

 

				
	 

	 

	PURCHASER:

	 
	 

	

CLARK-GLAC INVESTMENT, LLC

	 

	 

	 

	 /s/

	 
	 

	By: 

	 

	 

	 

	Name: 

	 

	 

	 

	Title:

	  

	 	 	 
	  

	 

	INSIDERS:

	 
	 

	

/s/ James J. Martell

	 

	 

	James J. Martell

	 

	 

	

/s/ Gregory E. Burns

	 

	 

	Gregory E. Burns

	 

	 

	

/s/ Charles Royce

	 

	 

	Charles Royce

	 

	 

	

/s/ Mitchel Friedman

	 

	 

	Mitchel Friedman

	 	 	 
	  

	 

	GLOBAL LOGISTICS ACQUISITION CORPORATION

	 

	 

	 

	 

	 
	 

	By: 

	/s/

	 

	 

	Name: 

	 

	 

	 

	Title:

	 

 

 

5

SCHEDULE A

		
	James J. Martell

	40,000

	Gregory E. Burns

	35,000

	Charles Royce

	45,000

SCHEDULE B

 

		
	Capital Systems, Inc. (Printer)

	$126,646.51

	State of Delaware Franchise Taxes

	$106,558.89EX-4.1

 

Exhibit
4.1

RPM INTERNATIONAL INC.

OFFICERS’ CERTIFICATE AND AUTHENTICATION ORDER

FOR 6.50% NOTES DUE 2018

     Pursuant to the Indenture dated as of February 14, 2008 (the “Indenture”) between RPM
International Inc. (the “Company”) and The Bank of New York Trust Company, N.A., as trustee (the
“Trustee”), and the resolutions adopted by the Board of Directors of the Company on January 24,
2008 (the “January Board Resolutions”), this Officers’ Certificate is being delivered to the
Trustee to establish the terms of a series of Securities in accordance with Section 2.01 of the
Indenture, to establish the form of the Securities of such series in accordance with Section 2.02
of the Indenture, and to request the authentication and delivery of the Securities of such series
pursuant to Section 2.04 of the Indenture and to comply with the provisions of Section 14.05 of the
Indenture.

     Capitalized terms used but not defined herein and defined in the Indenture shall have the
respective meanings ascribed to them in the Indenture.

     (a) There is hereby established pursuant to Section 2.02 of the Indenture a series of
Securities which shall have the terms set forth below and set forth in the form of note attached
hereto as Annex A.

     (1) The series of Securities hereby being authorized shall bear the title “6.50% Notes
due 2018” (referred to herein as the “Notes”).

     (2) The aggregate principal amount of Notes which may be authenticated and delivered
under the Indenture shall be limited to $250,000,000 (except for Notes authenticated and
delivered upon registration of transfer of, or in the exchange for, or in lieu of, other
Notes of the series pursuant to Section 2.05, 2.06, 2.07, 3.05, or 10.06 and except for any
Notes which, pursuant to Section 2.04, are deemed never to have been authenticated and
delivered).

     (3) The Notes shall be issuable in minimum denominations of $2,000 and in integral
multiples of $1,000 in excess thereof.

     (4) The form of note attached hereto as Annex A sets forth certain of the terms of the
Notes required to be set forth or determined in the manner provided in this certificate
pursuant to Section 2.02 of the Indenture, and said terms are incorporated herein by
reference.

     (b) It is hereby established pursuant to Section 2.02 of the Indenture that the Notes shall be
substantially in the form attached as Annex A hereto.

     (c) It is hereby ordered pursuant to Section 2.04 of the Indenture that the Trustee
authenticate, in the manner provided by the Indenture, one Note in the aggregate principal amount
of $250,000,000 registered in the name of Cede & Co., which Note will be duly executed by the
proper officers of the Company and delivered to the Trustee as provided in the Indenture,

 

 

and to deliver said authenticated Note to or upon the order of Banc of America Securities LLC
on February 20, 2008.

     (d) The undersigned have read the pertinent sections of the Indenture, including Sections
2.01, 2.02 and 2.04 thereof and the definitions in the Indenture relating thereto, and certain
other corporate documents and records. In the opinion of the undersigned, the undersigned have made
such examination or investigation as is necessary to enable the undersigned to express an informed
opinion as to whether or not the conditions precedent to (i) the establishment of (a) a series of
Securities and (b) the form of such Securities, and (ii) the authentication and delivery of such
series of Securities, contained in the Indenture have been complied with. In the opinion of the
undersigned, such conditions have been complied with.

[signature page follows]

 

 

     IN WITNESS WHEREOF, we have hereunto signed our names on behalf of the Company.

Dated:
February 20, 2008

	 	 	 	 	 	 	 
	 	 	RPM INTERNATIONAL INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By: /s/ Frank C.
Sullivan	 	 
	 

	 	Name: Frank C. Sullivan
	 	 
	 	 
	 

	 	Title: President and
Chief Executive Officer	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	By: /s/ Ernest T.
Thomas	 	 	 	 
	 

	 	Name: Ernest T. Thomas
	 	 
	 	 
	 

	 	Title: Senior Vice
President and Chief Financial Officer	 	 	 	 

 

 

Annex A

[Face of Note]

 

 

     Unless this certificate is presented by an authorized representative of The Depository Trust
Company, a New York corporation (“DTC”), to the Issuer or its agent for registration of transfer,
exchange or payment, and any certificate issued is registered in the name of Cede & Co. or in such
other name as requested by an authorized representative of DTC (and any payment is made to Cede &
Co. or such other entity as is requested by an authorized representative of DTC), ANY TRANSFER,
PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the
registered owner hereof, Cede & Co., has an interest herein.

THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED
TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS SECURITY MAY NOT BE
TRANSFERRED TO, OR REGISTERED OR EXCHANGED FOR SECURITIES REGISTERED IN THE NAME OF, ANY PERSON
OTHER THAN THE DEPOSITARY OR A NOMINEE THEREOF, AND NO SUCH TRANSFER MAY BE REGISTERED, EXCEPT IN
THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE. EVERY SECURITY AUTHENTICATED AND DELIVERED
UPON REGISTRATION OF TRANSFER OF, OR IN EXCHANGE FOR, OR IN LIEU OF, THIS SECURITY WILL BE A GLOBAL
SECURITY SUBJECT TO THE FOREGOING, EXCEPT IN SUCH LIMITED CIRCUMSTANCES.

			
	 	 	 
	CUSIP NO. 749685AQ6
	 	PRINCIPAL AMOUNT: $250,000,000
	ISIN	 	 
	Common Code No.

 	 	 

REGISTERED NO.      

RPM INTERNATIONAL INC.

6.50% Notes due 2018

     RPM INTERNATIONAL INC., a corporation duly organized and existing under the laws of the State
of Delaware (hereinafter called the “Company,” which term includes any successor
corporation under the Indenture hereinafter referred to), for value received, hereby promises to
pay to Cede & Co., or registered assigns, the principal sum of Two Hundred Fifty Million Dollars
($250,000,000) on February 15, 2018 and to pay interest thereon from February 20, 2008 or from the
most recent Interest Payment Date to which interest has been paid or duly provided for
semi-annually on February 15 and August 15 of each year, commencing August 15, 2008, at the rate of
6.50% per annum, until the principal hereof is paid or made available for payment. The interest so
payable, and punctually paid or duly provided for, on any Interest Payment Date shall, as provided
in the Indenture, be paid to the Person in whose name this Security (or one or more Predecessor
Securities) is registered at the close of business on the Regular Record Date for such interest
next preceding such Interest Payment Date. The Regular Record Date for an Interest Payment Date
shall be the date 15 calendar days prior to that Interest Payment Date (whether or not a Business
Day). As used herein, “Business Day” has the meaning ascribed thereto in the Indenture.

 

 

     Any interest not punctually paid or duly provided for shall forthwith cease to be payable to
the Holder on such Regular Record Date and may either be paid to the Person in whose name this
Security (or one or more Predecessor Securities) is registered at the close of business on a
Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice
whereof shall be given to Holders of Securities of this series not less than 10 days prior to such
Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the
requirements of any securities exchange on which the Securities of this series may be listed, and
upon such notice as may be required by such exchange, all as more fully provided in the Indenture.

     Payment of interest on this Security shall be made in immediately available funds at the
office or agency of the Company maintained for that purpose in New York, New York in such coin or
currency of the United States of America as at the time of payment is legal tender for payment of
public and private debts; provided, however, that, at the option of the Company, payment of
interest may be paid by check mailed to the Person entitled thereto at such Person’s last address
as it appears in the Security Register or by wire transfer to such account as may have been
designated by such Person. Payment of principal of and interest on this Security at Maturity shall
be made against presentation of this Security at the office or agency of the Company maintained for
that purpose in New York, New York.

     Reference is hereby made to the further provisions of this Security set forth on the reverse
hereof, which further provisions shall for all purposes have the same effect as if set forth at
this place.

     Unless the certificate of authentication hereon has been executed by the Trustee referred to
on the reverse hereof by manual signature, this Security shall not be entitled to any benefit under
the Indenture or be valid or obligatory for any purpose.

 

 

          IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed under its corporate seal.

DATED: February 20, 2008

	 	 	 	 	 	 	 
	 	 	RPM INTERNATIONAL INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

Name:
	 	 
	 

	 	 	 	Title:	 	 
	 
	 	 	 	 	 	 
	[SEAL]
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	Attest:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	Title:	 	 

	 	 	 	 	 
	TRUSTEE’S CERTIFICATE OF

AUTHENTICATION	 	 
	This is one of the Securities of the
series designated therein referred to
in the within-mentioned Indenture.	 	 
	 
	 	 	 	 
	THE BANK OF NEW YORK TRUST COMPANY, N.A.,

      as Trustee	 	 
	 
	 	 	 	 
	By:
	 	 	 	 
	 

	 	 

Authorized Signatory
	 	 

 

 

[Reverse of Note]

RPM INTERNATIONAL INC.

6.50% Notes due 2018

          This Security is one of a duly authorized issue of securities of the Company (herein called
the “Securities”), issued and to be issued in one or more series under an Indenture dated
as of February 14, 2008 between the Company and The Bank of New York Trust Company, N.A., as
trustee, as amended or supplemented from time to time (herein called the “Indenture”) (in
its capacity as trustee, The Bank of New York Trust Company, N.A., being herein called the
“Trustee,” which term includes any successor trustee under the Indenture), to which
Indenture and all indentures supplemental thereto reference is hereby made for a statement of the
respective rights, limitations of rights, duties and immunities thereunder of the Company, the
Trustee and the Holders of the Securities, and of the terms upon which the Securities are, and are
to be, authenticated and delivered. This Security is one of the series designated on the face
hereof, such series being limited in initial aggregate principal amount to $250,000,000; provided,
however, that the Company may, without the consent of the Holders of the Securities of this series,
issue additional Securities with the same terms as the Securities of this series, and such
additional Securities shall be considered part of the same series under the Indenture as the
Securities of this series.

          The Securities of this series shall not be entitled to any sinking fund.

Optional Redemption

          The Securities of this series are redeemable at the option of the Company, at any time or from
time to time, either in whole or in part, at a Redemption Price equal to the greater of the
following amounts, plus, in each case, accrued and unpaid interest thereon to the Redemption Date:
(i) 100% of the principal amount of the Securities to be redeemed; and (ii) the sum of the present
values of the Remaining Scheduled Payments.

          In determining the present values of the Remaining Scheduled Payments, such payments shall be
discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of
twelve 30-day months) using a discount rate equal to the Treasury Rate plus 45 basis points.

          “Comparable Treasury Issue” means the United States Treasury security selected by an
Independent Investment Banker as having an actual or interpolated maturity comparable to the
remaining term of the Securities of this series to be redeemed that would be utilized, at the time
of selection and in accordance with customary financial practice, in pricing new issues of
corporate debt securities of comparable maturity to the remaining term of such Securities.

          “Comparable Treasury Price” means (A) the arithmetic average of the Reference Treasury
Dealer Quotations for such Redemption Date after excluding the highest and lowest Reference
Treasury Dealer Quotations, or (B) if the Quotation Agent obtains fewer than four Reference
Treasury Dealer Quotations, the arithmetic average of all Reference Treasury Dealer Quotations for
such Redemption Date.

          “Independent Investment Banker” means any of Banc of America Securities LLC, Wachovia
Capital Markets, LLC and Goldman, Sachs & Co. or their respective successors as may be appointed
from time to time by the Quotation Agent after consultation with the Company; provided, however,
that if any of the foregoing shall cease to be a primary U.S. Government securities dealer in New
York City (a “primary treasury dealer”), another primary treasury dealer shall be
substituted therefor by the Company.

          “Quotation Agent” means, for purposes of determining the Redemption Price such primary
treasury dealer as may be selected by the Company.

          
 

 

          “Reference Treasury Dealer” means each of Banc of America Securities LLC, Wachovia
Capital Markets, LLC and Goldman, Sachs & Co. or their respective successors and any other primary
treasury dealer selected by the Quotation Agent after consultation with the Company.

          “Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury
Dealer and any Redemption Date, the arithmetic average, as determined by the Quotation Agent, of
the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage
of its principal amount) quoted in writing to the Quotation Agent by such Reference Treasury Dealer
by 3:30 p.m. on the third Business Day preceding such Redemption Date.

          “Remaining Scheduled Payments” means, with respect to any Security of this series, the
remaining scheduled payments of the principal and interest thereon that would be due after the
related Redemption Date but for such redemption; provided, however, that, if such Redemption Date
is not an Interest Payment Date with respect to such Security, the amount of the next scheduled
interest payment thereon shall be reduced by the amount of interest accrued thereon to such
Redemption Date.

          “Treasury Rate” means, with respect to any Redemption Date, the rate per annum equal
to the semi-annual equivalent yield to maturity or interpolated yield to maturity of the Comparable
Treasury Issue. In determining this rate, the price for the Comparable Treasury Issue (expressed as
a percentage of its principal amount) shall be assumed to be equal to the Comparable Treasury Price
for such Redemption Date.

          A partial redemption of the Securities of this series may be effected by such method as the
Trustee shall deem fair and appropriate and may provide for the selection for redemption of a
portion of the principal amount of the Securities of this series equal to an authorized
denomination.

          Notice of any redemption shall be mailed at least 30 days but not more than 60 days before the
Redemption Date to each Holder of the Securities of this series to be redeemed.

          Unless the Company defaults in payment of the Redemption Price, on and after the Redemption
Date interest shall cease to accrue on the Securities of this series or portions thereof called for
redemption.

          In the event of redemption of this Security in part only, a new Security or Securities of this
series and of like tenor for the unredeemed portion hereof will be issued in the name of the Holder
hereof upon the cancellation hereof.

Change of Control Offer

          If a Change of Control Triggering Event occurs, unless the Company has exercised its option to
redeem the Securities of this series, the Company shall be required to make an offer (a “Change
of Control Offer”) to each Holder of the Securities of this series to repurchase all or any
part (equal to $2,000 and in integral multiples of $1,000 in excess thereof) of that Holder’s
Securities on the terms set forth herein. In a Change of Control Offer, the Company shall be
required to offer payment in cash equal to 101% of the aggregate principal amount of Securities of
this series repurchased, plus accrued and unpaid interest, if any, on the Securities of this series
repurchased to the date of repurchase (a “Change of Control Payment”). Within 30 days
following any Change of Control Triggering Event or, at the Company’s option, prior to any Change
of Control, but after public announcement of the transaction that constitutes or may constitute the
Change of Control, a notice shall be mailed to Holders of the Securities of this series describing
the transaction that constitutes or may constitute the Change of Control Triggering Event and
offering to repurchase such Securities on the date specified in the notice, which date shall be no
earlier than 30 days and no later than 60 days from the date such notice is mailed (a “Change
of Control Payment Date”). The notice shall, if mailed prior to the date of consummation of the
Change of Control, state that the offer to purchase is conditioned on the Change of Control
Triggering Event occurring on or prior to the Change of Control Payment Date.

          In order to accept the Change of Control Offer, the Holder must deliver to the Paying Agent,
at least five Business Days prior to the Change of Control Payment Date, this Security together
with the form entitled “Election Form” (which form is annexed hereto) duly completed, or a
telegram, telex, facsimile transmission or a letter from a

 

 

member of a national securities exchange, or the National Association of Securities
Dealers, Inc. or a commercial bank or trust company in the United States setting forth:

	 	(i)	 	the name of the Holder of this Security;
	 
	 	(ii)	 	the principal amount of this Security;
	 
	 	(iii)	 	the principal amount of this Security to be repurchased;
	 
	 	(iv)	 	the certificate number or a description of the tenor and terms of this
Security;
	 
	 	(v)	 	a statement that the Holder is accepting the Change of Control Offer;
and
	 
	 	(vi)	 	a guarantee that this Security, together with the form entitled “Election
Form” duly completed, will be received by the Paying Agent at least five Business Days
prior to the Change of Control Payment Date.

Any exercise by a Holder of its election to accept the Change of Control Offer shall be
irrevocable. The Change of Control Offer may be accepted for less than the entire principal amount
of this Security, but in that event the principal amount of this Security remaining outstanding
after repurchase must be equal to $2,000 and in integral multiples of $1,000 in excess thereof.

          On the Change of Control Payment Date, the Company shall, to the extent lawful:

	 	(i)	 	accept for payment all Securities of this series or portions of such Securities
properly tendered pursuant to the Change of Control Offer;
	 
	 	(ii)	 	deposit with the Paying Agent an amount equal to the Change of Control Payment in
respect of all Securities of this series or portions of such Securities properly
tendered; and
	 
	 	(iii)	 	deliver or cause to be delivered to the Trustee the Securities of this series
properly accepted together with an Officers’ Certificate stating the aggregate
principal amount of Securities of this series or portions of such Securities being
repurchased.

          The Company shall not be required to make a Change of Control Offer upon the occurrence of a
Change of Control Triggering Event if a third party makes such an offer in the manner, at the times
and otherwise in compliance with the requirements for an offer made by the Company and the third
party purchases all Securities of this series properly tendered and not withdrawn under its offer.
In addition, the Company shall not repurchase any Securities of this series if there has occurred
and is continuing on the Change of Control Payment Date an Event of Default under the Indenture,
other than a default in the payment of the Change of Control Payment upon a Change of Control
Triggering Event.

          The Company shall comply with the requirements of Rule 14e-1 under the Securities Exchange Act
of 1934, as amended (the “Exchange Act”), and any other securities laws and regulations thereunder
to the extent those laws and regulations are applicable in connection with the repurchase of the
Securities of this series as a result of a Change of Control Triggering Event. To the extent that
the provisions of any such securities laws or regulations conflict with the Change of Control Offer
provisions of the Securities of this series, the Company shall comply with those securities laws
and regulations and shall not be deemed to have breached its obligations under the Change of
Control Offer provisions of the Securities of this series by virtue of any such conflict.

          For purposes of the Change of Control Offer provisions of the Securities of this series, the
following terms are applicable:

          “Change of Control” means the occurrence of any of the following: (1) the direct or
indirect sale, lease, transfer, conveyance or other disposition (other than by way of merger or
consolidation), in one or more series of related transactions, of all or substantially all of the
assets of the Company and its Subsidiaries, taken as a whole, to

 

 

any person, other than the Company or a Subsidiary; (2) the consummation of any transaction
(including, without limitation, any merger or consolidation) the result of which is that any person
becomes the beneficial owner (as defined in Rules 13d-3 and 13d-5 under the Exchange Act), directly
or indirectly, of more than 50% of the Company’s outstanding Voting Stock or other Voting Stock
into which the Company’s Voting Stock is reclassified, consolidated, exchanged or changed, measured
by voting power rather than number of shares; (3) the Company consolidates with, or merges with or
into, any person, or any person consolidates with, or merges with or into, the Company, in any such
event pursuant to a transaction in which any of the Company’s outstanding Voting Stock or the
Voting Stock of such other person is converted into or exchanged for cash, securities or other
property, other than any such transaction where the shares of the Company’s Voting Stock
outstanding immediately prior to such transaction constitute, or are converted into or exchanged
for, a majority of the Voting Stock of the surviving person or any direct or indirect parent
company of the surviving person immediately after giving effect to such transaction; (4) the first
day on which a majority of the members of the Company’s Board of Directors are not Continuing
Directors; or (5) the adoption of a plan relating to the Company’s liquidation or dissolution. The
term “person,” as used in this definition, has the meaning given thereto in Section 13(d)(3) of the
Exchange Act.

          “Change of Control Triggering Event” means the occurrence of both a Change of Control
and a Rating Event.

          “Continuing Directors” means, as of any date of determination, any member of the
Company’s Board of Directors who (1) was a member of such Board of Directors on the date the
Securities of this series were issued or (2) was nominated for election, elected or appointed to
such Board of Directors with the approval of a majority of the Continuing Directors who were
members of such Board of Directors at the time of such nomination, election or appointment (either
by a specific vote or by approval of the Company’s proxy statement in which such member was named
as a nominee for election as a director, without objection to such nomination).

          “Fitch” means Fitch Inc., and its successors.

          “Investment Grade Rating” means a rating equal to or higher than Baa3 (or the
equivalent) by Moody’s, BBB-(or the equivalent) by S&P and BBB- (or the equivalent) by Fitch and
the equivalent investment grade credit rating from any replacement rating agency or rating agencies
selected by the Company.

          “Moody’s” means Moody’s Investors Service, Inc., and its successors.

          “Rating Agencies” means (1) each of Moody’s, S&P and Fitch; and (2) if any of Moody’s,
S&P or Fitch ceases to rate the Securities of this series or fails to make a rating of such
Securities publicly available for reasons outside of the Company’s control, a “nationally
recognized statistical rating organization” within the meaning of Rule 15c3-1(c)(2)(vi)(F) under
the Exchange Act selected by the Company (as certified by a resolution of the Company’s Board of
Directors) to act as a replacement agency for Moody’s, S&P or Fitch, or all of them, as the case
may be.

          “Rating Event” means the rating on the Securities of this series is lowered by at
least two of the three Rating Agencies and the Securities of this series are rated below an
Investment Grade Rating by at least two of the three Rating Agencies on any day during the period
(which period shall be extended so long as the rating of the Securities of this series is under
publicly announced consideration for a possible downgrade by any of the Rating Agencies) commencing
60 days prior to the first public notice of the occurrence of a Change of Control or the Company’s
intention to effect a Change of Control and ending 60 days following consummation of such Change of
Control.

          “S&P” means Standard & Poor’s Rating Services, a division of The McGraw-Hill
Companies, Inc., and its successors.

          “Voting Stock” means, with respect to any specified “person” (as that term is used in
Section 13(d)(3) of the Exchange Act) as of any date, the capital stock of such person that is at
the time entitled to vote generally in the election of the board of directors of such person.

 

 

Events of Default

          In addition to the Events of Default set forth in the Indenture, the following shall be
considered Events of Default with respect to the Securities of this Series:

          (a) any final judgment or order for the payment of money in excess of the greater of
$50,000,000 or 7% of Consolidated Stockholders’ Equity, either individually or in the aggregate
(net of any amounts to the extent that they are covered by insurance), shall have been rendered
against the Company or any of its Subsidiaries and which shall not have been paid or discharged,
and there shall be any period of 60 consecutive days following the entry of the final judgment or
order that causes the aggregate amount for all such final judgments or orders outstanding and not
paid or discharged against the Company or any of its Subsidiaries to exceed the greater of
$50,000,000 or 7% of Consolidated Stockholders’ Equity during which a stay of enforcement of such
final judgment or order, by reason of a pending appeal or otherwise, shall not be in effect.

Limitation on Liens

          The Company covenants and agrees for the benefit of the Holders that for so long as any
Securities of this series are outstanding, the Company will not, and will not permit any of its
Subsidiaries to, create, assume, incur or suffer to exist any Lien upon any Principal Property or
upon any shares of Capital Stock or Indebtedness of any Subsidiary owning or leasing any Principal
Property, whether owned or leased on the date of the Indenture or thereafter acquired, other than
Permitted Liens or as permitted under “Exempted Liens and Sale-Leaseback Transactions” below, to
secure any Indebtedness incurred or guaranteed by the Company or any Subsidiary, without in any
such case making effective provision whereby all of the Securities of this series then outstanding
(together with, if the Company so determines, any other Indebtedness or guarantee thereof by the
Company ranking equally with such Securities) shall be secured equally and ratably with, or prior
to, such Indebtedness so long as such Indebtedness shall be so secured.

          “Permitted Liens” means:

     (i) Liens existing on the date of the Indenture or the date the Securities of this
series are issued and securing Indebtedness in an aggregate principal amount not exceeding
the greater of $25.0 million or 5% of Consolidated Stockholders’ Equity of the Company;
provided that no increase in the amount secured thereby is permitted;

     (ii) Liens on the property or assets of the Company or any other property or assets of
the Subsidiaries of the Company given to secure the payment of the purchase price incurred
in connection with the acquisition, lease (including any Capital Lease Obligation) or
construction of property (other than accounts receivable or inventory) intended to be used
in carrying on of the business of the Company or the businesses of the Subsidiaries of the
Company, including Liens existing on such property at the time of acquisition, lease or
construction thereof or improvements thereon, or Liens incurred within 180 days of such
acquisition or the completion of such construction; provided that (i) the Lien shall attach
solely to the property acquired, purchased, leased, constructed or improved, (ii) at the
time of acquisition or construction of such property, the aggregate amount remaining unpaid
on all Indebtedness secured by Liens on such property, whether or not assumed by the Company
or any Subsidiary of the Company, shall not exceed an amount equal to the lesser of the
total purchase price or Fair Market Value at the time of acquisition or construction of such
property, and (iii) the aggregate principal amount of all Indebtedness secured by such Liens
shall not exceed the lesser of (y) the cost of the acquisition, lease or construction, as
the case may be or (z) the Fair Market Value of such property;

     (iii) Liens on property or assets of any Person existing at the time such Person
becomes a Subsidiary of the Company or is merged with or into or consolidated with the
Company or any Subsidiary of the Company or, at the time of a sale, lease or other
disposition of the properties of a Person as an entirety or substantially as an entirety to
the Company or any Subsidiary of the Company, or arising thereafter pursuant to contractual
commitments entered into prior to and not in contemplation of such Person becoming a
subsidiary and not in contemplation of any such merger or consolidation or any such sale,
lease

 

 

or other disposition; provided that such Liens shall not extend to the property or
assets of the Company or any other property or assets of the Subsidiaries of the Company;

     (iv) Any extension, renewal or replacement (or successive extensions, renewals or
replacements) in whole or in part of any Lien referred to in the foregoing clauses;
provided, however, that the principal amount of Indebtedness secured thereby shall not
exceed the principal amount of Indebtedness so secured prior to such extension, renewal or
replacement and that such extension, renewal or replacement Lien shall be limited to all or
a part of the assets that secured the Lien so extended, renewed or replaced (plus
improvements and construction on such real property);

     (v) Other Liens arising in the ordinary conduct of the business of the Company or the
businesses of the Subsidiaries of the Company (including Liens to secure the performance by
the Company or the Subsidiaries of the Company of bids, tenders or trade contracts for sums
not yet due and payable) which are not incurred in connection with the borrowing of money or
the obtaining of advances or credit, or that is incidental to the ownership of properties
and assets by the Company or the Subsidiaries of the Company in the ordinary conduct of the
Company’s business or the businesses of the Subsidiaries of the Company (including
landlords’, carriers’, warehousemen’s, mechanics’, materialmen’s and other similar Liens for
sums not yet due and payable), or to secure the performance by the Company or the
Subsidiaries of the Company of its or their statutory obligations (including obligations
under workers compensation, unemployment insurance and other social security legislation),
surety or appeal bonds and other similar liens (including Liens of attorneys on client
files); provided in each case that such Liens do not, in the aggregate, materially detract
from the value of the property or assets of the Company or the property or assets of the
Subsidiaries of the Company or materially impair the use thereof in the operation of the
business of the Company or the businesses of the Subsidiaries of the Company;

     (vi) Leases or subleases entered into by the Company or the Subsidiaries of the Company
as either lessors or sublessors, easements, rights-of-way, restrictions and other similar
charges or encumbrances (including zoning restrictions), in each case, that is incidental to
the ownership of property or assets or the ordinary conduct of the business of the Company
or the businesses of the Subsidiaries of the Company; provided that such Liens do not, in
the aggregate, materially detract from the value of such property;

     (vii) Liens for taxes, assessments or other governmental charges which are not yet due
and payable as of the date of the Indenture or the date the Securities of this series are
issued; and

     (viii) Liens on receivables, leases, other financial assets, and any assets related
thereto, incurred in connection with a Permitted Receivables Transaction.

          “Permitted Receivables Transaction” means any transaction or series of transactions entered
into by the Company or any of its Subsidiaries in order to monetize or otherwise finance a pool
(which may be fixed or revolving) of receivables, leases or other financial assets (including,
without limitation, financing contracts) or other transactions evidenced by receivables purchase
agreements, including, without limitation, factoring agreements and other similar agreements
pursuant to which receivables, leases, other financial assets, and any assets related thereto, are
sold at a discount (in each case whether now existing or arising in the future), and which may
include a grant of a security interest in any such receivables, leases, other financial assets
(whether now existing or arising in the future) of the Company or any of its Subsidiaries, and any
assets related thereto, including all collateral securing such receivables, leases, or other
financial assets, all contracts and all guarantees or other obligations in respect thereof,
proceeds thereof and other assets that are customarily transferred, or in respect of which security
interests are customarily granted, in connection with asset securitization transactions involving
receivables, leases, or other financial assets or other transactions evidenced by receivables
purchase agreements, including, without limitation, factoring agreements and other similar
agreements pursuant to which receivables are sold at a discount.

          “Principal Property” means, whether owned or leased on the date of the Indenture or
acquired after the date thereof, each manufacturing or processing plant or facility and office
facilities of the Company or its Subsidiaries located in the United States.

 

 

Restrictions on Sale-Leaseback Transactions

          Except as permitted under “Exempted Liens and Sale-Leaseback Transactions” below, the Company
will not, and it will not permit any of its Subsidiaries to, engage in the sale or transfer by the
Company or any of its Subsidiaries of any Principal Property to a person (other than a Subsidiary
of the Company or the Company) and the taking back by the Company or any of its Subsidiaries, as
the case may be, of a lease of such Principal Property, unless:

(i) such sale-leaseback transaction involves a lease for a period, including renewals, of not
more than three years; or

(ii) the Company or its Subsidiary, within a one-year period after such sale-leaseback
transaction, applies or causes to be applied an amount not less than the net proceeds from such
sale-leaseback transaction to the prepayment, repayment, redemption, reduction or retirement
(other than pursuant to any mandatory sinking fund, redemption or prepayment provision) of
Funded Indebtedness.

          “Funded Indebtedness” means Indebtedness having a maturity of more than 12 months from
the date as of which the amount thereof is to be determined or having a maturity of less than
12 months but by its terms being renewable or extendible beyond 12 months from such date at the
option of the obligor.

Exempted Liens and Sale-Leaseback Transactions

          Notwithstanding the foregoing restrictions on Liens and sale-leaseback transactions, and in
addition to Permitted Liens otherwise permitted hereunder, the Company may, and may permit any
Subsidiary to, create, assume, incur, or suffer to exist any Lien upon any Principal Property, or
upon any shares of Capital Stock or Indebtedness of any of its Subsidiaries owning or leasing any
Principal Property, to secure Indebtedness incurred or guaranteed by the Company or any of its
Subsidiaries or effect any sale-leaseback transaction of a Principal Property that is not excepted
by “Restrictions on Sale-Leaseback Transactions” above without equally and ratably securing the
Securities; provided that, after giving effect thereto, the aggregate principal amount of
outstanding Indebtedness secured by Liens other than Permitted Liens upon Principal Property and/or
upon such shares of Capital Stock or Indebtedness of any Subsidiary owning or leasing any Principal
Property, plus the Attributable Indebtedness from sale-leaseback transactions of Principal Property
not so excepted, does not exceed 15% of the Consolidated Stockholders’ Equity as of the date of
determination.

          “Consolidated Stockholders’ Equity” means, at any time, the consolidated stockholders’
equity of the Company and its Subsidiaries calculated on a consolidated basis as of such time.

Interest Rate Adjustments

          The interest rate payable on the Securities of this Series will be subject to adjustment from
time to time if any two of the three Rating Agencies downgrades (or subsequently upgrades) its
rating assigned to such Securities, as set forth below. If the rating of the Securities of this
Series from any two or more of the three Rating Agencies is decreased to a rating set forth in any
of the immediately following tables, the interest rate on such Securities will increase from the
interest rate otherwise payable on such Securities by an amount equal to the sum of the percentages
set forth in the following tables opposite those ratings; provided, that only the two lowest
ratings assigned to such Securities (or deemed assigned, as provided in the rules of interpretation
set forth below) will be taken into account for purposes of any interest rate adjustment:

	 	 	 	 	 
	Moody’s Rating	 	Percentage
	Ba1
	 	 	0.25	%
	Ba2
	 	 	0.50	%
	Ba3
	 	 	0.75	%
	B1 or below
	 	 	1.00	%

 

 

	 	 	 	 	 
	S&P Rating	 	Percentage
	BB+
	 	 	0.25	%
	BB
	 	 	0.50	%
	BB-
	 	 	0.75	%
	B+ or below
	 	 	1.00	%

	 	 	 	 	 
	Fitch Rating	 	Percentage
	BB+
	 	 	0.25	%
	BB
	 	 	0.50	%
	BB-
	 	 	0.75	%
	B+ or below
	 	 	1.00	%

          As an example, if such Securities are rated Ba1/BB+/BBB-, the interest rate on the Securities
of this series will increase by 0.50%. If they are rated Ba2/BBB-/BBB-, the interest rate on the
Securities of this series will increase by 0.00%. If they are rated Ba2/BB+/BBB-, the interest
rate on the Securities of this series will increase by 0.75%. If they are rated Ba1/BBB-/BBB-, the
interest rate on the notes will increase by 0.00%.

          For purposes of making adjustments to the interest rate payable on the Securities of this
series, the following rules of interpretation will apply:

          (1) if a Rating Agency has ceased to provide a rating of such Securities for any reason, that
Rating Agency will be deemed to have rated such Securities at the lowest level contemplated by the
table above;

          (2) if only one of the three Rating Agencies ceases to provide a rating of such Securities for
any reason, the deemed rating of that Rating Agency will be disregarded for purposes of all
interest rate adjustments;

          (3) if two of the three Rating Agencies cease to provide a rating of such Securities for any
reason, the deemed rating of only one of such two Rating Agencies will be disregarded;

          (4) if all three Rating Agencies cease to provide a rating of such Securities for any reason,
the interest rate on such Securities will increase to, or remain at, as the case may be, 2.00%
above the interest rate otherwise payable on such Securities prior to any adjustment;

          (5) each interest rate adjustment required by any decrease or increase in a rating by any one
Rating Agency will be made independently of (and in addition to) any and all other adjustments; and

          (6) in no event will (A) the interest rate on such Securities be reduced to below the interest
rate otherwise payable on such Securities prior to any adjustment or (B) the total increase in the
interest rate on such Securities exceed 2.00% above the interest rate otherwise payable on such
Securities prior to any adjustment.

          If at any time the interest rate on the Securities of this series has been adjusted upward and
any of the Rating Agencies subsequently increases its rating of such Securities, the interest rate
on such Securities will again be adjusted (and decreased, if appropriate) such that the interest
rate on such Securities equals the interest rate otherwise payable on such Securities prior to any
adjustment plus (if applicable) an amount equal to the sum of the percentages set forth opposite
the ratings in the tables above with respect to the two lowest ratings assigned to such Securities
(or deemed assigned) at that time, all calculated in accordance with the rules of interpretation
set forth above.

          Any interest rate increase or decrease described above will take effect from the first day of
the interest period during which a rating change occurs requiring an adjustment in the interest
rate. If any Rating Agency changes its rating of the Securities of this Series more than once
during any particular interest period, the last such change to occur will control in the event of a
conflict.

 

 

Other Provisions

          If an Event of Default with respect to Securities of this series as set forth in the Indenture
shall occur and be continuing, the principal of the Securities of this series may be declared due
and payable in the manner and with the effect provided in the Indenture.

          The Indenture permits, with certain exceptions as therein provided, the amendment thereof and
the modification of the rights and obligations of the Company and the rights of the Holders of the
Securities of each series to be affected under the Indenture at any time by the Company and the
Trustee with the consent of the Holders of a majority in principal amount of the Securities at the
time Outstanding of each series to be affected. The Indenture also contains provisions permitting
the Holders of specified percentages in principal amount of the Securities of each series at the
time Outstanding, on behalf of the Holders of all Securities of such series, to waive compliance by
the Company with certain provisions of the Indenture and certain past defaults under the Indenture
and their consequences. Any such consent or waiver by the Holder of this Security shall be
conclusive and binding upon such Holder and upon all future Holders of this Security and of any
Security issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof,
whether or not notation of such consent or waiver is made upon this Security.

          As provided in and subject to the provisions of the Indenture, the Holder of this Security
will not have the right to institute any proceeding with respect to the Indenture or for the
appointment of a receiver or trustee or for any other remedy thereunder, unless such Holder shall
have previously given the Trustee written notice of a continuing Event of Default with respect to
the Securities of this series, the Holders of not less than 25% in principal amount of the
Securities of this series at the time Outstanding shall have made written request to the Trustee to
institute proceedings in respect of such Event of Default as Trustee and offered the Trustee
indemnity satisfactory to it, and the Trustee shall not have received from the Holders of a
majority in principal amount of Securities of this series at the time Outstanding a direction
inconsistent with such request and shall have failed to institute such proceeding for 60 calendar
days after receipt of such notice, request, and offer of indemnity. The foregoing will apply to any
suit instituted by the Holder of this Security for the enforcement of any payment of principal
hereof or any premium or interest hereon on or after the respective due dates expressed herein.

Upon due presentment for registration of transfer of this Security at the office or agency of the
Company in New York, New York, a new Security or Securities of this series in authorized
denominations for an equal aggregate principal amount shall be issued to the transferee in exchange
herefor, as provided in the Indenture and subject to the limitations provided therein and to the
limitations described below, without charge except for any tax or other governmental charge imposed
in connection therewith.

          Prior to due presentment of this Security for registration of transfer, the Company, the
Trustee and any agent of the Company or the Trustee may treat the Person in whose name this
Security is registered as the owner hereof for all purposes, whether or not this Security be
overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the
contrary.

          This Security is exchangeable for definitive Securities in registered form only if (i) the
Depositary notifies the Company that it is unwilling or unable to continue as Depositary for this
Security and a successor depositary is not appointed by the Company within 90 days after receiving
such notice, or if at any time the Depositary ceases to be a clearing agency registered under the
Exchange Act and a successor depositary is not appointed by the Company within 90 days after the
Company becoming aware that the Depositary has ceased to be registered as a clearing agency,
(ii) the Company, in its sole discretion, determines that this Security shall be exchangeable for
definitive Securities in registered form and notifies the Trustee thereof or (iii) an Event of
Default with respect to the Securities represented hereby has occurred and is continuing. If this
Security is exchangeable pursuant to the preceding sentence, it shall be exchangeable for
definitive Securities in registered form, bearing interest at the same rate, having the same date
of issuance, redemption provisions, Stated Maturity and other terms and of authorized denominations
aggregating a like amount.

          This Security may not be transferred except as a whole by the Depositary to a nominee of the
Depositary or by a nominee of the Depositary to the Depositary or another nominee of the Depositary
or by the Depositary or any such nominee to a successor of the Depositary or a nominee of such
successor. Except as provided above, owners of beneficial interests in this global Security shall
not be entitled to receive physical delivery of Securities in definitive form and shall not be
considered the Holders hereof for any purpose under the Indenture.

 

 

          No reference herein to the Indenture and no provision of this Security or of the Indenture
shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay
the principal and interest on this Security at the times, place and rate, and in the coin or
currency, herein prescribed.

          No recourse shall be had for the payment of the principal of or the interest on this Security,
or for any claim based hereon, or otherwise in respect hereof, or based on or in respect of the
Indenture or any indenture supplemental thereto, against any incorporator, stockholder, officer or
director, as such, past, present or future, of the Company or any successor corporation, whether by
virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or
penalty or otherwise, all such liability being, by the acceptance hereof and as part of the
consideration for the issuance hereof, expressly waived and released.

          All terms used in this Security which are defined in the Indenture shall have the meanings
assigned to them in the Indenture unless otherwise defined in this Security.

          This Security shall be governed by, and construed in accordance with, the laws of the State of
New York, without regard to conflicts of laws principles thereof.

 

 

ABBREVIATIONS

               The following abbreviations, when used in the inscription on the face of this instrument,
shall be construed as though they were written out in full according to applicable laws or
regulations:

TEN COM — as tenants in common

TEN ENT — as tenants by the entireties

JT TEN — as joint tenants with right of survivorship and not as tenants in common

	 	 	 	 	 	 	 	 	 
	UNIF GIFT MIN ACT —

	 	 	 	Custodian	 	 	 	 
	 

	 	 

(Cust)
	 	 	 	 

(Minor)
	 	 

Under Uniform Gifts to Minors Act

	 	 	 
	 

(State)

	 	 

          Additional abbreviations may also be used though not in the above list.

          FOR VALUE RECEIVED, the undersigned hereby sell(s) and transfer(s) unto

Please Insert Social Security or

Other Identifying Number of Assignee

	 	 	 
	 

	 	 

 

 

 

(PLEASE PRINT OR TYPE NAME AND ADDRESS INCLUDING POSTAL ZIP CODE OF ASSIGNEE)

 

 

the within Security of RPM INTERNATIONAL INC. and does hereby irrevocably constitute and appoint
                                         attorney to transfer the said Security on the books of the Company, with full
power of substitution in the premises.

Dated:                                        

	 	 	 	 	 
	 

	 	 

	 	 
	 
	 	 	 	 
	 

	 	 	 	 

NOTICE: The signature to this assignment must correspond with the name as written upon the face of
the within instrument in every particular, without alteration or enlargement or any change
whatever.

 

 

 

ELECTION FORM

TO BE COMPLETED ONLY IF THE HOLDER

ELECTS TO ACCEPT THE CHANGE OF CONTROL OFFER

 

          The undersigned hereby irrevocably requests and instructs the Company to repurchase the within
Security (or the portion thereof specified below), pursuant to its terms, on the Change of Control
Payment Date specified in the Change of Control Offer, for the Change of Control Payment specified
in the within Security, to the undersigned,                                 
         , at                                  
       (please print
or typewrite name and address of the undersigned).

          For this election to accept the Change of Control Offer to be effective, the Company must
receive, at the address of the Paying Agent set forth below or at such other place or places of
which the Company shall from time to time notify the Holder of the within Security, either (i) this
Security with this “Election Form” form duly completed, or (ii) a telegram, telex, facsimile
transmission or a letter from a member of a national securities exchange or the National
Association of Securities Dealers, Inc. or a commercial bank or a trust company in the United
States setting forth (a) the name of the Holder of the Security, (b) the principal amount of the
Security, (c) the principal amount of the Security to be repurchased, (d) the certificate number or
description of the tenor and terms of the Security, (e) a statement that the option to elect
repurchase is being exercised, and (f) a guarantee stating that the Security to be repurchased,
together with this “Election Form” duly completed will be received by the Paying Agent five
Business Days prior to the Change of Control Payment Date. The address of the Paying Agent is The
Bank of New York Trust Company, N.A., c/o The Bank of New York, 101 Barclay Street, New York, New
York 10286.

          If less than the entire principal amount of the within Security is to be repurchased, specify
the portion thereof (which principal amount must be $2,000 and in integral multiples of $1,000 in
excess thereof) which the Holder elects to have repurchased: $                    .

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