Document:

axrs1a051313exh41.htm

Exhibit 4.1

 

 

	
SUBSCRIPTION RIGHTS CERTIFICATE #:

	
NUMBER OF SUBSCRIPTION RIGHTS:

	  	  

 

 

 

THE TERMS AND CONDITIONS OF THE RIGHTS OFFERING ARE SET FORTH IN THE COMPANY’S PROSPECTUS DATED [•], 2013 (THE “PROSPECTUS”) AND ARE INCORPORATED HEREIN BY REFERENCE. COPIES OF THE PROSPECTUS ARE AVAILABLE UPON REQUEST FROM REGISTRAR AND TRANSFER COMPANY, THE SUBSCRIPTION AGENT.

 

AMREP Corporation

Incorporated under the laws of the State of Oklahoma

 

NON-TRANSFERABLE SUBSCRIPTION RIGHTS CERTIFICATE

 

Evidencing Non-Transferable Subscription Rights to Purchase Shares of Common Stock of

 

AMREP Corporation

 

Subscription Price: $[•] per Share

 

THE SUBSCRIPTION RIGHTS WILL EXPIRE IF NOT EXERCISED ON OR BEFORE 5:00 P.M.,

NEW YORK CITY TIME, ON JUNE 27, 2013, UNLESS EXTENDED BY THE COMPANY

 

REGISTERED OWNER:

 

THIS CERTIFIES THAT the registered record owner whose name is inscribed hereon is the record owner of the number of non-transferable subscription rights (“Rights”) set forth above (the “Record Holder”). This Right entitles the Record Holder thereof to subscribe for and purchase 0.200 of a share (rounded down to the nearest whole share) of Common Stock, with a par value of $.10 per share, of AMREP Corporation, an Oklahoma corporation, at a subscription price of $[•] per share (the “Basic Subscription Right”), pursuant to a rights offering (the “Rights Offering”), on the terms and subject to the conditions set forth in the Prospectus. The record date for the distribution of Rights was May 31, 2013 (the “Record Date”). If any shares of Common Stock available for purchase in the Rights Offering are not purchased by other holders of Rights pursuant to the exercise of their Basic Subscription Rights (the “Remaining Shares”), Remaining Shares shall be available for purchase on the terms set forth herein and in the Prospectus. A Rights holder (including designees of the Rights holder described in Form 2 of the Election to Purchase) that exercises a Basic Subscription Right in full may subscribe for a number of Remaining Shares pursuant to the terms and conditions of the Rights Offering, subject to proration, as described in the Prospectus (the “Over-Subscription Privilege”).

 

The Rights represented by this Subscription Rights Certificate may be exercised by completing Form 1 and any other appropriate forms on the reverse side hereof and by returning the full payment of the subscription price for each share of Common Stock in accordance with the instructions set forth in Form 1 hereto, the Prospectus, and the Instructions for Use of AMREP Corporation Subscription Rights Certificates. THE RIGHTS EVIDENCED BY THIS SUBSCRIPTION RIGHTS CERTIFICATE MAY NOT BE EXERCISED UNLESS THE REVERSE SIDE HEREOF IS COMPLETED AND SIGNED, WITH A SIGNATURE GUARANTEE, IF APPLICABLE.

 

This Subscription Rights Certificate is not valid unless countersigned by the subscription agent and registered by the registrar.

 

  

  

  

  

Witness the facsimile signatures of the duly authorized officers of AMREP Corporation.

 

Dated: ________________

 

 

	 	Vice president and Chief Financial Officer	 	Secretary	 

 

 

COUNTERSIGNED AND REGISTERED:

Registrar and Transfer Company

 

By:                                                                  

Authorized Signature

 

  

  

  

  

AMREP CORPORATION

 

This Rights Certificate must be received by the subscription agent, together with payment in full, by 5:00 p.m., New York City time, on June 27, 2013, or as such expiration date may be extended from time to time.  Failure to submit this Subscription Rights Certificate to the subscription agent by that time or to comply with the guaranteed delivery procedures described in the Prospectus will result in a forfeiture of your Rights.  Any subscription for shares of common stock of AMREP Corporation in this Rights Offering is irrevocable.

 

If you wish to purchase Common Stock through the exercise of Rights, please complete the “Election to Purchase.”  Any improperly completed or unexecuted Subscription Rights Certificate may cause the subscription agent in its sole discretion to reject such rights certificate.  If you have any questions, contact the subscription agent at (800) 368-5948.

 

DELIVERY OPTIONS FOR SUBSCRIPTION RIGHTS CERTIFICATE

 

Delivery other than in the manner or to the addresses listed below will not constitute valid delivery.

 

	
By regular mail:

	  	  	  	

By registered, certified or express mail, by

overnight courier or by personal delivery:

 

	
Registrar and Transfer Company

Attn: Reorg/Exchange Dept

P.O. Box 645

Cranford, New Jersey 07016-0645

	  	  	  	
Registrar and Transfer Company

Attn: Reorg/Exchange Dept

10 Commerce Drive

Cranford, New Jersey 07016

 

 

 

  

  

  

  

ELECTION TO PURCHASE

 

PLEASE PRINT ALL INFORMATION CLEARLY AND LEGIBLY

 

FORM 1—EXERCISE OF SUBSCRIPTION RIGHTS

 

To subscribe for shares pursuant to your Basic Subscription Right, please complete line (a) and sign under Form 3 below. If you subscribe in full for the Basic Subscription Right in paragraph (a) below, you may elect to subscribe for shares pursuant to your Over-Subscription Privilege by completing line (b) and signing under Form 3 below. After reviewing and completing, as applicable, lines (a) and (b), complete line (c) for total subscription payment amount enclosed. To the extent you subscribe for more shares than you are entitled under either the Basic Subscription Right or the Over-Subscription Privilege, you will be deemed to have elected to purchase the maximum number of shares for which you are entitled to subscribe under the Basic Subscription Right or Over-Subscription Privilege, as applicable.

 

(a)           BASIC SUBSCRIPTION RIGHT:

 

I exercise __________ Rights X 0.200      = ________________________________

(no. of rights)                  (ratio)          (total number of new shares rounded down

to nearest whole share)

 

Therefore, I apply for ___________________ X [_______________] =   $_______________

(no. of new whole shares)     (subscription price)           (amount enclosed)

 

(b)           OVER-SUBSCRIPTION PRIVILEGE:

 

I apply for ___________________ X [_______________] =   $_______________

(no. of new whole shares)      (subscription price)           (amount enclosed)

 

(c)           TOTAL AMOUNT ENCLOSED: $____________________________________________________

(sum of basic plus over-subscription $ amounts from (a) and (b))

 

METHOD OF PAYMENT (CHECK ONE):

 

	
£

	
Uncertified check drawn on a U.S. bank payable to “Registrar and Transfer Company,” as Subscription Agent.

 

	
£

	
Certified check drawn on a U.S. bank payable to “Registrar and Transfer Company,” as Subscription Agent.

 

	
£

	
Wire transfer of immediately available funds directly to the account maintained by Registrar and Transfer Company, as Subscription Agent, for purposes of accepting subscriptions in the Rights Offering:

 

For the Benefit of:

REGISTRAR AND TRANSFER COMPANY, as Subscription Agent for AMREP Corporation, with reference to the certificate number and name listed on your Subscription Rights Certificate

Account #: 276-053-5977

Bank:

TD Bank

6000 Atrium Way

Mt. Laurel, NJ 08054

ABA #: 031-201-360

 

 

  

  

  

  

FORM 2—SPECIAL ISSUANCE OR DELIVERY INSTRUCTIONS FOR SUBSCRIPTION RIGHTS HOLDERS:

 

A Rights holder includes a holder of rights and (1) his or her immediate family member, trust or tax planning vehicle, (2) its corporate affiliate or (3) a charitable institution (each, a “Qualified Designee”).  This Form 2 is to be completed ONLY if the certificate representing the Common Stock is to be issued, in whole or in part, in the name of a Qualified Designee (complete paragraph (a)) or if the certificates are to be sent to an address other than that shown on the front of this certificate (complete paragraph (b)). (See the Instructions.) DO NOT FORGET TO COMPLETE THE GUARANTEE OF SIGNATURE(S) SECTION BELOW.

 

	
(a)

	
To be completed ONLY if Common Stock should be issued to a Qualified Designee through the exercise of Rights. DO NOT FORGET TO COMPLETE THE GUARANTEE OF SIGNATURE(S) SECTION BELOW.

 

	ISSUE SHARES* OF COMMON STOCK  	 	ISSUE SHARES* OF COMMON STOCK 	 
	TO THE RIGHTS HOLDER:    	 	TO THE QUALIFIED DESIGNEE: 	 
	 	 	 	 
	 	 	 	 
	
(Please Print Name)

 

 

	 	(Please Print Name)	 
	
(Print Full Address)

 

 

	 	(Print Full Address)	 
	(Social Security # or Tax ID #)	 	(Social Security # or Tax ID #)	 

 

 

	
*

	
Specify in the blank(s) below the number of Basic Subscription Right shares and Over-Subscription Privilege shares that are to be allocated among the Rights Holder and Qualified Designee, if applicable.  The combined numbers cannot exceed the combined numbers from Form 1, paragraph (a) and (b) (see details below).

 

	  	
Rights Holder

 

	
Qualified Designee

	
Total

	
Basic Subscription Right:

	
_________________

	
_________________

	
________________(i)

	
Over-Subscription Privilege:

	
_________________

	
_________________

	
_________________(ii)

	  	  	  	  

(i)    Total cannot exceed number of whole shares subscribed for in Form 1, paragraph (a).

 

	
  

	
(ii)

	
Total cannot exceed number of whole shares subscribed for in Form 1, paragraph (b); amounts are subject to reduction through pro rata allocation procedures described in the Prospectus to the extent there is not a sufficient number of Remaining Shares to satisfy the aggregate request for subscription made under the Over-Subscription Privilege in Form 1, paragraph (b).

 

Check box below to specify nature of Qualified Designee and describe relationship to Rights Holder in accompanying blank:

 

	
 

	
£

	
Immediate Family Member, Trust or Tax Planning Vehicle                                                                               

	 

 

	
  

	
£

	
Corporate Affiliate                                                                                                                                                  

	 

 

	
  

	
£

	
Charitable Institution                                                                                                                                             

	 

 

  

  

  

  

 

 

	
(b)

	
To be completed ONLY if the certificate representing the Common Stock is to be sent to an address other than that shown on the front of this certificate. (See the Instructions.) DO NOT FORGET TO COMPLETE THE GUARANTEE OF SIGNATURE(S) SECTION BELOW.

 

 

	Different Address for Record Owner: 	 	Address of Qualified Designee:	 
	 	 	 	 
	 	 	 	 
	
(Please Print Name)

 

 

	 	(Please Print Name)	 
	
(Print Full Address)

 

 

	 	(Print Full Address)	 
	(Social Security # or Tax ID #)	 	(Social Security # or Tax ID #)	 

 

  

  

  

  

 

FORM 3—SIGNATURE

 

TO SUBSCRIBE: I acknowledge that I have received the Prospectus for this Rights Offering and I hereby irrevocably subscribe for the number of shares indicated above on the terms and conditions specified in the Prospectus.

 

Record Owner                                                                        Qualified Designee

Signature(s)                                                                            Signature(s)**                                                              

 

**Required only if Qualified Designee is

remitting payment

 

 

IMPORTANT: The signature(s) of the record owner must correspond with the name(s) as printed on the reverse of this Subscription Rights Certificate in every particular, without alteration or enlargement, or any other change whatsoever.

 

 

FORM 4—SIGNATURE GUARANTEE

 

This form must be completed if you have completed any portion of Form 2.

 

Signature

Guaranteed:                                                                                                                                        

                                                    (Name of Bank or Firm)

By:                                                                                                                                        

                                                    (Signature of Officer)

 

IMPORTANT: The signature(s) should be guaranteed by an eligible guarantor institution (bank, stock broker, savings & loan association or credit union) with membership in an approved signature guarantee medallion program pursuant to Rule 17Ad-15 under the Securities Exchange Act of 1934, as amended.

 

FOR INSTRUCTIONS ON THE USE OF AMREP CORPORATION SUBSCRIPTION RIGHTS CERTIFICATES, CONSULT REGISTRAR AND TRANSFER COMPANY, THE SUBSCRIPTION AGENT, AT (800) 368-5948 TOLL-FREE.

 

FULL PAYMENT FOR THE SHARES MUST ACCOMPANY THIS FORM AND MUST BE MADE IN UNITED STATES DOLLARS BY A CHECK DRAWN ON A UNITED STATES BANK OR WIRE TRANSFER PAYABLE TO REGISTRAR AND TRANSFER COMPANY.EX-10.1

EXHIBIT 10.1
ANALOG DEVICES, INC.
EXECUTIVE SECTION 162(m) PLAN
		
	I.
	Purpose

The purpose of the Executive Section 162(m) Plan, as amended (the “Section 162(m) Plan”), is to motivate and retain senior executives of Analog Devices, Inc. (the “Company”) to achieve targeted levels of corporate, financial and strategic performance.  The terms of the Section 162(m) Plan set forth herein shall, if approved by the shareholders of the Company, apply to awards for or during fiscal year 2013 and later fiscal periods.  The Section 162(m) Plan provides for an incentive pool based on the Company’s Profits (as defined below) pursuant to Section III hereof.  
		
	II.
	Eligibility and Participation

Participants in the Section 162(m) Plan for any performance period shall include the Chief Executive Officer of the Company and such other key executives or class of executives as may be designated as participants for such period by the Compensation Committee (the “Committee”) of the Board of Directors of the Company.  
		
	III.
	Incentive Pool

A.  General.  The Committee may designate participants who are eligible to receive an allocation of an incentive pool equal to 2% of the Company’s operating income determined in accordance with GAAP (Generally Accepted Accounting Principles), as set forth in the Company's financial statements filed with the Securities and Exchange Commission, excluding restructuring charges, gain/loss from the sale of a business, and tangible and intangible asset impairments but including amounts paid under the Section 162(m) Plan (“Profits”) for the applicable performance period.  The Committee shall allocate the incentive pool among the participants for each performance period.  The performance period may be one or more fiscal quarters, one or more fiscal years, or such other period as determined by the Committee; provided that, for the avoidance of doubt, in no event may any performance periods overlap.  In no event may (i) the allocation to any particular participant exceed 100% of the total incentive pool for the performance period and (ii) the sum of the incentive pool allocations for all participants exceed 100% of the total incentive pool.  The incentive pool and the allocations among participants must be established by the Committee no later than the earlier of (i) ninety (90) days after the beginning of the performance period for which the incentive pool is created and (ii) the first 25% of the portion of the performance period with respect to which the incentive pool relates; provided, however, that in all cases, the incentive pool and the applicable allocations must be established by such time as may be required in order for the amounts  paid under the incentive pool to qualify as performance-based compensation under Section 162(m)(4)(C) of the Internal Revenue Code (the “Code”) (such required date, the “162(m) Deadline”).    
B.  Additional Provisions.  Allocations to participants may be paid in the form of cash, equity or otherwise in accordance with the discretion of the Committee.  The Committee may, in its sole discretion, (i) subject the participant’s right to receive his or her allocation of the incentive pool to additional service and/or performance conditions, including, without limitation, performance conditions under the annual executive performance incentive plan (the “Annual Bonus Plan”) established by the Board of Directors of the Company or the Committee and/or conditions relating to the delivery of equity awards under the Company’s then-effect stock incentive plan (a “Stock Incentive Plan”), and (ii) use negative discretion to reduce or eliminate the amount of any incentive pool allocation to a participant.  Notwithstanding the foregoing, in no event may the Board or the Committee increase the amount of such payment. 
		
	IV.
	Terms

Each payment of an amount attributable to a participant’s incentive pool allocation under this Section 162(m) Plan shall be subject to the following terms:

A.    No payment shall be made to participants in the Section 162(m) Plan unless and until the Committee has certified in writing (in such manner as shall be consistent with regulations under Section 162(m) of the Code) the amount of Profits for the applicable performance period and the participant’s allocation of the incentive pool.
B.    To the extent amounts payable under the Section 162(m) Plan are paid in cash and to the extent the performance periods under the Section 162(m) Plan are the Company’s fiscal quarters, unless otherwise provided by the Committee, payment for the first and second fiscal quarters shall be made on or before June 30 of the calendar year in which the second fiscal quarter ends and payment for the third and fourth fiscal quarters shall be made on or before December 31 of the calendar year in which the fourth quarter ends.  To the extent that the performance period is based on a different period of time, the Committee shall determine the time of payment in its sole discretion.  Notwithstanding the preceding two sentences, in all cases cash payments shall be made no later than the later of (i) two and a half months after the end of the Company’s tax year in which such payment is no longer subject to a substantial risk of forfeiture and (ii) two and a half months after the end of the participant’s tax year in which such payment is no longer subject to a substantial risk of forfeiture.  To the extent the Committee exercises discretion to make allocations in the form of equity awards under a Stock Incentive Plan, such allocations shall be paid in the time and manner consistent with the terms of such Stock Incentive Plan.
C.    Except as specifically set forth in this Section 162(m) Plan, the Annual Bonus Plan, a Stock Incentive Plan or in another agreement between a participant in the Section 162(m) Plan and the Company, a participant must be employed by the Company or one of its subsidiaries on the date on which any amount under the Section 162(m) Plan is paid in order to be eligible to receive such payment.  
		
	V.
	Actions Binding, No Right To Employment, etc.

The Committee shall have complete discretion to construe and administer the Section 162(m) Plan, to establish an incentive pool, to establish incentive pool allocations among participants, to determine the form in which amounts attributable to incentive pool allocations shall be paid, and otherwise to do all things necessary or appropriate to carry out the Section 162(m) Plan. The Committee is not obligated to establish an incentive pool or to make any allocations to any particular participants under the Section 162(m) Plan.  Actions by the Committee under the Section 162(m) Plan shall be conclusive and binding on all persons.
Nothing in the Section 162(m) Plan shall entitle any participant to continued employment with the Company and its subsidiaries, and the loss of benefits or potential benefits under the Section 162(m) Plan shall in no event constitute an element of damages in any action brought against the Company or its subsidiaries.
The Committee may at any time, in its sole discretion, amend or terminate the Section 162(m) Plan.
The Section 162(m) Plan is effective on January 22, 2013, provided that any amounts payable under this plan shall be subject to approval of the material terms of the Section 162(m) Plan by the Company’s stockholders in the manner required under Section 162(m) of the Code in order for such amounts to be eligible to qualify as performance-based compensation under Section 162(m) of the Code, to the extent not already so approved.
Approved March 13, 2013

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