Document:

Exhibit 10.18

 

 

VWR International, Inc.

1310 Goshen Parkway, West Chester, PA  19380

610/431-1700/ www.vwr.com

 

December 29, 2004

 

 

Ms. Gloria Keesee

573 Plainfield Avenue

Berkeley Heights, NJ  07922

 

Dear Gloria:

 

I am pleased to confirm the
terms of the offer of employment to you at VWR International, Inc.’s (“VWR”)
offices in West Chester, Pennsylvania. 
The offer is as follows:

 

	
  Position:

  	
  Senior Vice President, Chief Information Officer

  
	
   

  	
   

  
	
  Salary:

  	
  $250,000 per year, payable in installments on VWR’s
  regular payroll dates.

  
	
   

  	
   

  
	
  Start Date:

  	
  March 7, 2005.

  
	
   

  	
   

  
	
  Annual Bonus:

  	
  You will be eligible to participate in VWR’s
  management incentive program with a maximum bonus potential of 75% of base
  salary prorated from hire date.

  
	
   

  	
   

  
	
  Stock Purchase:

  	
  Sometime during April of
  next year you will be provided the opportunity to purchase up to 2,500 shares
  of common stock of CDRV Investors, Inc. (the parent company of VWR) for the
  then current fair market value of such stock. Our Board of Directors will
  determine the fair market value of the shares prior to April in accordance
  with its normal practices. Your purchase shall be made pursuant to a
  management stock subscription agreement similar to those in effect for other
  management employees.

  
	
   

  	
   

  
	
   

  	
  This subscription agreement will
  state the terms and conditions upon which your shares are subject to
  repurchase in the event of your termination of employment.

  
	
   

  	
   

  
	
  Stock Options:

  	
  Two options are granted
  with each share of common stock that you purchase. Options are service based
  and vest in five equal installments of 20% on each of the first five
  anniversaries of the date

  

 

 

	
   

  	
  you are granted the options (i.e., if you start
  employment with us in December and are granted 100 options in April of 2005,
  20 options will vest in April 2006, 20 more will vest in April 2007, etc.).
  Your options will generally remain exercisable for a period of 10 years from
  the date of grant, although your options will expire earlier if you terminate
  employment with us.

  
	
   

  	
   

  
	
  Benefits:

  	
  You will be entitled to participate in all health,
  welfare and other similar benefits available to associates of VWR.

  
	
   

  	
   

  
	
  Housing:

  	
  You are eligible for relocation consistent with VWR
  Policy. In addition, you will receive up to 9 months of short-term housing.

  
	
   

  	
   

  
	
  Other:

  	
  If you sustain loss with respect to your most recent
  relocation provided to you by Cardinal Health due to your acceptance of
  employment with VWR, VWR will cover up to $45,000 of the loss.

  
	
   

  	
   

  
	
  Additional terms:

  	
  This offer is contingent upon your not being subject
  to any contract that would be violated by your employment with VWR; and your
  successful completion of a physical and drug/alcohol screening prior to your
  start date.

  

 

Gloria, we are excited to have
you join our team. If you have any questions, please do not hesitate to call
me.

 

 

	
   

  	
  Sincerely,

  
	
   

  	
   

  
	
   

  	
  /s/ WALTER W. ZYWOTTEK

  
	
   

  	
  Walter W. Zywottek

  

 

 

c:                                       Chuck
Canfield

 

 

Accepted And Agreed

 

 

 

	
  /s/ GLORIA KEESEE

  	
   

  	
   

  	
  1/5/05

  	
   

  
	
  Name

  	
   

  	
  DateExhibit 4.1

 

SEE REVERSE FOR IMPORTANT NOTICE
ON TRANSFER RESTRICTIONS AND OTHER INFORMATION

 

	
  NUMBER

  	
  

  	
  SHARES

  
	
   

  	
   

  	
   

  
	
  KKR
  FINANCIAL CORP.

  
	
   

  	
   

  	
   

  
	
  a Corporation Formed
  Under the Laws of the 

  State of Maryland

  

 

This Certifies that
SPECIMEN  is
the registered holder of  **Zero (0)** Shares
fully paid and nonassessable shares of Common Stock, $0.01 par value per share,
of KKR Financial Corp.

 

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

 

The Certificate and the
shares represented hereby are issued and shall be held subject to all of the
provisions of the charter of the Corporation and the Bylaws of the Corporation
and any amendments thereto.

 

In
Witness Whereof, the said Corporation has caused this
Certificate to be signed by its duly authorized officers and its Corporate Seal
to be hereunto affixed
this                         day
of                              A.D.

 

 

	
   

  	
   

  	
   

  	
  [SEAL]

  
	
  Secretary

  	
   

  	
  President

  	
   

  

 

 

 

IMPORTANT NOTICE

 

THE CORPORATION WILL FURNISH TO ANY
STOCKHOLDER, ON REQUEST AND WITHOUT CHARGE, A FULL STATEMENT OF THE INFORMATION
REQUIRED BY SECTION 2-211(B) OF THE CORPORATIONS AND ASSOCIATIONS ARTICLE OF
THE ANNOTATED CODE OF MARYLAND WITH RESPECT TO THE DESIGNATIONS AND ANY
PREFERENCES, CONVERSION AND OTHER RIGHTS, VOTING POWERS, RESTRICTIONS,
LIMITATIONS AS TO DIVIDENDS AND OTHER DISTRIBUTIONS, QUALIFICATIONS, AND TERMS
AND CONDITIONS OF REDEMPTION OF THE STOCK OF EACH CLASS WHICH THE CORPORATION
HAS AUTHORITY TO ISSUE AND, IF THE CORPORATION IS AUTHORIZED TO ISSUE ANY
PREFERRED OR SPECIAL CLASS IN SERIES, (I) THE DIFFERENCES IN THE RELATIVE
RIGHTS AND PREFERENCES BETWEEN THE SHARES OF EACH SERIES TO THE EXTENT SET, AND
(II) THE AUTHORITY OF THE BOARD OF DIRECTORS TO SET SUCH RIGHTS AND PREFERENCES
OF SUBSEQUENT SERIES. THE FOREGOING SUMMARY DOES NOT PURPORT TO BE COMPLETE AND
IS SUBJECT TO AND QUALIFIED IN ITS ENTIRETY BY REFERENCE TO THE CHARTER OF THE
CORPORATION, A COPY OF WHICH WILL BE SENT WITHOUT CHARGE TO EACH STOCKHOLDER
WHO SO REQUESTS. SUCH REQUEST MUST BE MADE TO THE SECRETARY OF THE CORPORATION
AT ITS PRINCIPAL OFFICE.

 

THE SHARES EVIDENCED BY THIS CERTIFICATE ARE
SUBJECT TO AND ENTITLED TO THE BENEFITS OF A CERTAIN REGISTRATION RIGHTS
AGREEMENT, DATED AUGUST 12, 2004.

 

THE SHARES REPRESENTED BY THIS CERTIFICATE ARE
SUBJECT TO RESTRICTIONS ON BENEFICIAL AND CONSTRUCTIVE OWNERSHIP AND TRANSFER.
SUBJECT TO CERTAIN FURTHER RESTRICTIONS AND EXCEPT AS EXPRESSLY PROVIDED IN THE
CORPORATION’S CHARTER, (I) NO PERSON MAY BENEFICIALLY OR CONSTRUCTIVELY OWN
SHARES OF ANY CLASS OR SERIES OF THE CAPITAL STOCK OF THE CORPORATION IN EXCESS
OF NINE AND EIGHT-TENTHS PERCENT (9.8%) IN VALUE OR IN NUMBER OF SHARES, WHICHEVER
IS MORE RESTRICTIVE, OF ANY CLASS OR SERIES OF CAPITAL STOCK OF THE CORPORATION
UNLESS SUCH PERSON IS AN EXCEPTED HOLDER (IN WHICH CASE THE EXCEPTED HOLDER
LIMIT SHALL BE APPLICABLE); (II) NO PERSON MAY BENEFICIALLY OWN SHARES OF
CAPITAL STOCK THAT WOULD RESULT IN THE CORPORATION BEING “CLOSELY HELD” UNDER
SECTION 856(H) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (“THE CODE”);
(III) NO PERSON MAY TRANSFER SHARES OF CAPITAL STOCK THAT WOULD RESULT IN THE
CAPITAL STOCK OF THE CORPORATION BEING BENEFICIALLY OWNED BY LESS THAN ONE
HUNDRED (100) PERSONS (DETERMINED WITHOUT REFERENCE TO ANY RULES OF
ATTRIBUTION); (IV) NO PERSON MAY BENEFICIALLY OWN SHARES OF CAPITAL STOCK THAT
WOULD RESULT IN 25% OR MORE OF ANY CLASS OF CAPITAL STOCK BEING BENEFICIALLY
OWNED BY ONE OR MORE BENEFIT PLAN INVESTORS; AND (V) NO PERSON MAY TRANSFER
SHARES OF CAPITAL STOCK WITHOUT OBTAINING FROM ITS TRANSFEREE A REPRESENTATION
AND AGREEMENT THAT (A) ITS TRANSFEREE IS NOT (AND WILL NOT BE), AND IS NOT
ACTING ON BEHALF OF, A BENEFIT PLAN INVESTOR OR A CONTROLLING PERSON AND (B)
SUCH TRANSFEREE WILL OBTAIN FROM ITS TRANSFEREE THE REPRESENTATION AND
AGREEMENT SET FORTH IN THIS CLAUSE (V) (INCLUDING WITHOUT LIMITATION CLAUSES
(A) AND (B)). ANY PERSON WHO BENEFICIALLY OR CONSTRUCTIVELY OWNS OR ATTEMPTS TO
BENEFICIALLY OR CONSTRUCTIVELY OWN SHARES OF CAPITAL STOCK WHICH CAUSES OR WILL
CAUSE A PERSON TO BENEFICIALLY OR CONSTRUCTIVELY OWN
SHARES OF CAPITAL STOCK IN EXCESS OR IN VIOLATION OF THE ABOVE LIMITATIONS MUST
IMMEDIATELY NOTIFY THE CORPORATION. IF ANY OF THE RESTRICTIONS ON TRANSFER OR OWNERSHIP
IN (I), (II) AND (III) ABOVE ARE VIOLATED, THE SHARES
OF CAPITAL STOCK REPRESENTED HEREBY WILL BE AUTOMATICALLY TRANSFERRED TO A
TRUSTEE OF A CHARITABLE TRUST FOR THE BENEFIT OF ONE OR MORE CHARITABLE
BENEFICIARIES. IF, NOTWITHSTANDING THE FOREGOING SENTENCE, A TRANSFER TO THE
CHARITABLE TRUST IS NOT EFFECTIVE FOR ANY REASON TO PREVENT A VIOLATION OF THE
RESTRICTIONS ON TRANSFER AND OWNERSHIP IN (I), (II) AND (III) ABOVE, THEN THE ATTEMPTED
TRANSFER OF THAT NUMBER OF SHARES OF CAPITAL STOCK THAT OTHERWISE WOULD CAUSE
ANY PERSON TO VIOLATE SUCH RESTRICTIONS SHALL BE VOID AB  INITIO.
IF ANY OF THE RESTRICTIONS ON TRANSFER AND OWNERSHIP IN (IV) AND (V) ABOVE ARE
VIOLATED, THEN THE ATTEMPTED TRANSFER OF THAT NUMBER OF SHARES OF CAPITAL STOCK
THAT OTHERWISE WOULD CAUSE ANY PERSON TO VIOLATE SUCH RESTRICTIONS SHALL BE
VOID AB  INITIO. IF, NOTWITHSTANDING THE FOREGOING SENTENCE, A
PURPORTED TRANSFER IS NOT TREATED AS BEING VOID AB  INITIO FOR ANY
REASON, THEN THE SHARES TRANSFERRED IN SUCH VIOLATION SHALL AUTOMATICALLY BE
TRANSFERRED TO A CHARITABLE TRUST FOR THE BENEFIT OF A CHARITABLE BENEFICIARY,
AND THE PURPORTED OWNER OR TRANSFEREE WILL ACQUIRE NO RIGHTS IN SUCH SHARES. IN
ADDITION, THE CORPORATION MAY REDEEM SHARES UPON THE TERMS AND CONDITIONS
SPECIFIED BY THE BOARD OF DIRECTORS IN ITS SOLE DISCRETION IF THE BOARD OF
DIRECTORS DETERMINES THAT OWNERSHIP OR A TRANSFER OR OTHER EVENT MAY VIOLATE
THE RESTRICTIONS DESCRIBED ABOVE. ALL CAPITALIZED TERMS IN THIS LEGEND HAVE THE
MEANINGS DEFINED IN THE CHARTER OF THE CORPORATION, AS THE SAME MAY BE AMENDED
FROM TIME TO TIME, A COPY OF WHICH, INCLUDING THE RESTRICTIONS ON TRANSFER AND
OWNERSHIP, WILL BE FURNISHED TO EACH HOLDER OF CAPITAL STOCK OF THE CORPORATION
ON REQUEST AND WITHOUT CHARGE. REQUESTS FOR SUCH A COPY MAY BE DIRECTED TO THE
SECRETARY OF THE CORPORATION AT ITS PRINCIPAL OFFICE.

 

THE SHARES REPRESENTED BY THIS CERTIFICATE
HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “1933
ACT”), OR THE SECURITIES LAWS OF ANY STATE. SUCH SHARES MAY NOT BE TRANSFERRED
WITHOUT PRIOR REGISTRATION UNDER THE 1933 ACT AND APPLICABLE STATE LAW OR
UNLESS AN EXEMPTION FROM REGISTRATION IS AVAILABLE AND SUCH TRANSFER, IN THE
OPINION OF COUNSEL FOR THE TRANSFEROR OF SUCH SHARES, WILL NOT CONSTITUTE OR RESULT IN A VIOLATION OF THE 1933 ACT OR ANY APPLICABLE
STATE LAW.

 

KEEP THIS CERTIFICATE IN A SAFE PLACE. IF IT
IS LOST, STOLEN OR DESTROYED, THE CORPORATION WILL REQUIRE A BOND OF INDEMNITY
AS A CONDITION TO THE ISSUANCE OF A REPLACEMENT CERTIFICATE.

 

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

 

	
  TEN COM

  	
  —

  	
  as tenants in common

  	
  UNIF GIFT MIN ACT—

  	
   

  	
  Custodian

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  (Cust)

  	
  (Minor)

  
	
  TEN ENT

  	
  —

  	
  as tenants by the
  entireties

  	
   

  	
  under Uniform Gifts to
  Minors

  
	
   

  	
   

  	
   

  	
   

  	
  Act

  	
   

  	
   

  
	
  JT TEN

  	
  —

  	
  as joint tenants with right
  of survivorship and not as tenants in common

  	
   

  	
   

  	
  (State)

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

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

  
										

 

 

	
  For value received,

  	
   

  	
  hereby sell,
  assign and transfer unto

  
	
  PLEASE INSERT SOCIAL
  SECURITY OR OTHER

  IDENTIFYING NUMBER OF ASSIGNEE

  	
   

  
	
   

  	
   

  
	
   

  
	
  PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS OF ASSIGNEE

  
	
   

  
	
   

  
	
   

  
	
   

  
	
   

  
	
   

  	
  Shares

  
	
  represented
  by the within Certificate, and do hereby irrevocably constitute and appoint

  
	
   

  
	
   

  
	
   

  
	
  Attorney to
  transfer the said shares on the books of the within-named Corporation with
  full power of substitution in the premises.

  
	
   

  
	
  Dated,

  	
   

  	
   

  
	
   

  
	
   

  	
   

  
	
  In presence of

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
									

 

NOTICE:
THE SIGNATURE TO THIS ASSIGNMENT MUST CORRESPOND WITH THE NAME AS WRITTEN UPON
THE FACE OF THE CERTIFICATE IN EVERY PARTICULAR, WITHOUT ALTERATION OR
ENLARGEMENT, OR ANY CHANGE WHATEVER.

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