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EXHIBIT 4.2    
  

 
 

CERTIFICATE OF DESIGNATION
  OF
  SERIES B JUNIOR PARTICIPATING PREFERRED STOCK
  
    of
    HAGGAR CORP.
  
    Pursuant to Section 78.1955 of the
  Nevada Revised Statutes    

        Haggar
Corp., a Nevada corporation (the "Corporation"), through the undersigned duly authorized officer, in accordance with the provisions of Section 78.1955 of the Nevada Revised
Statutes ("NRS"), DOES HEREBY CERTIFY: 

        That,
the Board of Directors of the Corporation on October 10, 2002, pursuant to the authority conferred upon the Board of Directors by the Third Amended and Fully Restated
Articles of Incorporation of the Corporation (the "Articles of Incorporation") and in accordance with the provisions of Section 78.1955 of the NRS, adopted the following resolution creating a
series of 250,000 shares of Preferred Stock, par value $.10 per share ("Preferred Stock"), which resolution remains in full force and effect as of the date hereof: 

        RESOLVED
FURTHER, that a series of Preferred Stock of the Company be, and it hereby is, created, and that the designation and amount thereof, and the voting powers, preferences,
limitations, restrictions, relative rights and distinguishing designations of such series (in addition to the provisions that are set forth in the Third Amended and Fully Restated Articles of
Incorporation of the Company, which are to be applicable to Preferred Stock of all classes and series) shall be as set forth on the Certificate of Designations attached hereto as  Exhibit "C".

        In
accordance with the above resolution, the voting powers, designations, preferences and relative, participating, optional and other special rights of the Preferred Stock, and the
qualifications, limitations or restrictions thereof are as follows: 

Series B Junior Participating Preferred Stock:  

        Section
1.    Designation and Amount.    The shares of such series shall be designated as "Series B Junior
Participating Preferred Stock" (the "Series B Junior Preferred Stock") and the number of shares constituting the Series B Junior Preferred Stock shall be 250,000. Such number of shares
may be increased or decreased by resolution of the Board of Directors; provided, that no decrease shall reduce the number of shares of Series B
Junior Preferred Stock to a number less than the number of shares then outstanding plus the number of shares reserved for issuance upon the exercise of outstanding options, rights or warrants or upon
the conversion of any outstanding securities issued by the Corporation convertible into Series B Junior Preferred Stock. 

        Section
2.    Dividends and Distributions.    

        (a)  Subject
to the rights of the holders of any shares of any series of Preferred Stock (or any similar stock) ranking prior and superior to the Series B Junior
Preferred Stock with respect to dividends, the holders of shares of Series B Junior Preferred Stock, in preference to the holders of Common Stock, par value $0.10 per share (the "Common
Stock"), of the Corporation, and of any other junior stock, shall be entitled to receive, when, as and if declared by the Board of Directors out of funds legally available for the purpose, quarterly
dividends payable in cash on the last day of September, December, March and June in each year (each such date being referred to herein as a "Quarterly Dividend Payment Date"), commencing on the first
Quarterly Dividend Payment Date after 

 

the first issuance of a share or fraction of a share of Series B Junior Preferred Stock as provided in paragraphs (b) and (c) of this Section 2 in an amount per share
(rounded to the nearest cent) equal to the greater of (1) $5.00 in cash or (2) subject to the provision for adjustment hereinafter set forth, 100 times the aggregate per share amount of
all cash dividends, and 100 times the aggregate per share amount (payable in kind) of all non-cash dividends or other distributions, other than a dividend payable in shares of Common Stock
or a subdivision of the outstanding shares of Common Stock (by reclassification or otherwise), declared on the Common Stock since the immediately preceding Quarterly Dividend Payment Date or with
respect to the first Quarterly Dividend Payment Date, since
the first issuance of any share or fraction of a share of Series B Junior Preferred Stock. If the Corporation shall at any time declare or pay any dividend on the Common Stock payable in shares
of Common Stock, or effect a subdivision or combination or consolidation of the outstanding shares of Common Stock (by reclassification or otherwise) into a greater or lesser number of shares of
Common Stock, then in each such case the amount to which holders of shares of Series B Junior Preferred Stock were entitled immediately prior to such event under clause (2) of the
preceding sentence shall be adjusted by multiplying such amount by a fraction, the numerator of which is the number of shares of Common Stock outstanding immediately after such event and the
denominator of which is the number of shares of Common Stock that was outstanding immediately prior to such event. 

        (b)  The
Corporation shall declare a dividend or distribution on the Series B Junior Preferred Stock as provided in paragraph (a) of this Section 2
immediately after it declares a dividend or distribution on the Common Stock (other than a dividend payable in shares of Common Stock); provided that,
if no dividend or distribution shall have been declared on the Common Stock during the period between any Quarterly Dividend Payment Date and the next subsequent Quarterly Dividend Payment Date, a
dividend of $5.00 per share payable in cash on the Series B Junior Preferred Stock shall nevertheless accrue and be cumulative on the outstanding shares of Series B Junior Preferred
Stock as provided in paragraph (c) of this Section 2. 

        (c)  Dividends
shall begin to accrue and be cumulative on outstanding shares of Series B Junior Preferred Stock from the Quarterly Dividend Payment Date next preceding
the date of issue of such shares of Series B Junior Preferred Stock, unless the date of issue of such shares is prior to the record date for the first Quarterly Dividend Payment Date, in which
case dividends on such shares shall begin to accrue from the date of issue of such shares, or unless the date of issue is a Quarterly Dividend Payment Date or is a date after the record date for the
determination of holders of shares of Series B Junior Preferred Stock entitled to receive a quarterly dividend and before such Quarterly Dividend Payment Date, in either of which events such
dividends shall begin to accrue and be cumulative from such Quarterly Dividend Payment Date. Accrued but unpaid dividends shall not bear interest. Dividends paid on the shares of Series B
Junior Preferred Stock in an amount less than the total amount of such dividends at the time accrued and payable on such shares shall be allocated pro rata on a share-by-share
basis among all such shares at the time outstanding. The Board of Directors may fix a record date for the determination of holders of shares of Series B Junior Preferred Stock entitled to
receive payment of a dividend or distribution declared thereon, which record date shall be not more than 30 days prior to the date fixed for the payment thereof. 

        Section
3.    Voting Rights.    The holders of shares of Series B Junior Preferred Stock shall have the
following voting rights: 

        (a)  Subject
to the provisions for adjustment hereinafter set forth, each share of Series B Junior Preferred Stock shall entitle the holder thereof to one
(1) vote on all matters submitted to a vote of the stockholders of the Corporation. If the Corporation shall at any time after the Rights Declaration Date declare or pay any dividend on Common
Stock payable in shares of Common Stock, or effect a subdivision or combination of the outstanding shares of Common Stock (by reclassification or otherwise) into a greater or lesser number of shares
of Common Stock, then in each such case the number of votes per share to which holders of shares of Series B Junior Preferred Stock were entitled 

2

 

immediately prior to such event shall be adjusted by multiplying such number by a fraction the numerator of which is the number of shares of Common Stock outstanding immediately after such event and
the denominator of which is the number of shares of Common Stock that was outstanding immediately prior to such event. 

        (b)  In
addition to such voting rights as may from time to time be required by the laws of Nevada, the holders of Series B Junior Preferred Stock shall vote at such
times and in a like manner as holders of Common Stock may vote, one (1) vote for each share of Series B Junior Preferred Stock held, and all shares of the Corporation shall be voted as a
single class, except where specifically required by law to vote separately. 

        Section
4.    Certain Restrictions.    

        (a)  Whenever
quarterly dividends or other dividends or distributions payable on the Series B Junior Preferred Stock as provided in Section 2 are in arrears,
thereafter and until all accrued and unpaid dividends and distributions, whether or not declared, on shares of Series B Junior Preferred Stock outstanding shall have been paid in full, the
Corporation shall not: 

        (1)  declare
or pay dividends, or make any other distributions, on any shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up)
to the Series B Junior Preferred Stock; 

        (2)  declare
or pay dividends, or make any other distributions, on any shares of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding
up) with the Series B Junior Preferred Stock, except dividends paid ratably on the Series B Junior Preferred Stock and all such parity stock on which dividends are payable or in arrears
in proportion to the total amounts to which the holders of all such shares are then entitled; 

        (3)  redeem
or purchase or otherwise acquire for consideration shares of any stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up)
to the Series B Junior Preferred Stock, provided that the Corporation may at any time redeem, purchase or otherwise acquire shares of any such parity stock in exchange for shares of any stock
of the Corporation ranking junior (either as to dividends and upon dissolution, liquidation or winding up) to the Series B Junior Preferred Stock; or 

        (4)  redeem
or purchase or otherwise acquire for consideration any shares of Series B Junior Preferred Stock or any shares of stock ranking on a parity (either as to
dividends and upon dissolution, liquidation or winding up) with the Series B Junior Preferred Stock, except in accordance with a
purchase offer made in writing or by publication (as determined by the Board of Directors) to all holders of such shares upon such terms as the Board of Directors, after consideration of the
respective annual dividend rates and other relative rights and preferences of the respective series and classes, shall determine in good faith will result in fair and equitable treatment among the
holders of the respective series or classes. 

        (b)  The
Corporation shall not permit any subsidiary of the Corporation to purchase or otherwise acquire for consideration any shares of stock of the Corporation unless the
Corporation could, under paragraph (a) of this Section 4, purchase or otherwise acquire such shares at such time and in such manner. 

        Section
5.    Reacquired Shares.    Any shares of Series B Junior Preferred Stock purchased or otherwise
acquired by the Corporation in any manner whatsoever shall be retired and canceled promptly after the acquisition thereof. All such shares shall upon their cancellation become authorized but unissued
shares of Preferred Stock and may be reissued as part of a new series of Preferred Stock to be created by resolution or resolutions of the Board of Directors, subject to the conditions and 

3

 

restrictions on issuance set forth herein, in the Articles of Incorporation, or in any other Certificate of Designation creating a series of Preferred Stock or any similar stock or as otherwise
required by law. 

        Section
6.    Liquidation, Dissolution or Winding Up.    Upon any liquidation (voluntary or otherwise), dissolution or
winding up of the Corporation, no distribution shall be made (a) to the holders of shares of stock ranking junior (either as to dividends or as to amounts payable upon liquidation, dissolution
or winding up) to the Series B Junior Preferred Stock unless, prior thereto, the holders of Series B Junior Preferred Stock shall have received an amount per share (rounded to the
nearest cent) equal to the greater of (1) $100.00 per share, plus an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such
payment, or (2) an amount per share, subject to the provision for adjustment hereinafter set forth, equal to one hundred (100) times the aggregate amount to be distributed per share to
holders of Common Stock or (b) to the holders of stock ranking on a parity (either as to dividends or as to amounts payable upon liquidation, dissolution or winding up) with the Series B
Junior Preferred Stock, except distributions made ratably on the Series B Junior Preferred Stock and all such parity stock in proportion to the total amounts to which the holders of all such
shares are entitled upon such liquidation, dissolution or winding up. If the Corporation shall at any time after the Rights Declaration Date (as defined in the Rights Agreement, dated
October 10, 2002, between the Corporation and Mellon Investor Services LLC) declare or pay any dividend on Common Stock payable in shares of Common Stock, or effect a subdivision or combination
or consolidation of the outstanding shares of Common Stock (by reclassification or otherwise) into a greater or lesser number of shares of Common Stock, then in each such case the aggregate amount to
which holders of shares of Series B Junior Preferred Stock were entitled immediately prior to such event under the proviso in clause (a)(2) of the preceding sentence shall be adjusted by
multiplying such amount by a fraction the numerator of which is the number of shares of Common Stock outstanding immediately after such event and the denominator of which is the number of shares of
Common Stock that were outstanding immediately prior to such event. 

        Section
7.    Consolidation, Merger, etc.    If the Corporation shall enter into any consolidation, merger,
combination or other transaction in which the shares of Common Stock are exchanged for or changed into other stock or securities, cash or any other property, or any combination thereof, then in any
such case each share of Series B Junior Preferred Stock shall at the same time be similarly exchanged or changed into an amount per share, subject to the provision for adjustment hereinafter
set forth, equal to 100 times the aggregate amount of stock, securities, cash or any other property (payable in kind), or any combination thereof, as the case may be, into which or for which each
share of Common Stock is changed or exchanged. If the Corporation shall at any time after the Rights Declaration Date declare or pay any dividend on the Common Stock payable in shares of Common Stock,
or effect a subdivision or combination or consolidation of the outstanding shares of Common Stock (by reclassification or otherwise) into a greater or lesser number of shares of Common Stock, then in
each such case the amount set forth in the preceding sentence with respect to the exchange or change of shares of Series B Junior Preferred Stock shall be adjusted by multiplying such amount by
a fraction, the numerator of which is the number of shares of Common Stock outstanding immediately after such event and the denominator of which is the number of shares of Common Stock that was
outstanding immediately prior to such event. 

        Section
8.    Redemption.    The shares of Series B Junior Preferred Stock shall not be redeemable. 

        Section
9.    Rank.    The Series B Junior Preferred Stock shall rank, with respect to payment of dividends and
the distribution of assets, junior to all series of any other class of the Corporation's Preferred Stock, unless the terms of any such class or series of the Corporation's Preferred Stock shall
provide otherwise. 

        Section
10.    Amendment.    The Articles of Incorporation of the Corporation shall not be amended in any manner which
would materially alter or change the powers, preferences, privileges or special 

4

 

rights of the Series B Junior Preferred Stock so as to affect them adversely without the affirmative vote of the holders of at least a majority of the outstanding shares of Series B
Junior Preferred Stock, voting together as a single class. 

        Section
11.    Fractional Shares.    Series B Junior Preferred Stock may be issued in fractions of a share that
shall entitle the holder, in proportion to such holders' fractional shares, to exercise voting rights, receive dividends, participate in distributions and to have the benefit of all other rights of
holders of Series B Junior Preferred Stock. 

        IN
WITNESS WHEREOF, this Certificate of Designation is executed on behalf of the Corporation by its duly authorized officer this            day
of                        , 2002.
 

	 	 	HAGGAR CORP.
	

 	
 	

By:	
 	

	 	 	Name:	 	

	 	 	Title:	 	

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EXHIBIT 4.2

CERTIFICATE OF DESIGNATION OF SERIES B JUNIOR PARTICIPATING PREFERRED STOCK of HAGGAR CORP. Pursuant to Section 78.1955 of the Nevada Revised StatutesQuickLinks
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EXHIBIT 4.5    
  

 
 

EXHIBIT C
  
    (Specimen of Legend)    
  

        This certificate also evidences and entitles the holder hereof to certain Rights as set forth in the Rights Agreement between Haggar Corp. (the "Company") and
Mellon Investor Services LLC (the "Rights Agent") dated as of October 10, 2002, as may be amended from time to time (the "Rights Agreement"), the terms of which are hereby incorporated herein
by reference and a copy of which is on file at the principal office of the Company. Under certain circumstances, as set forth in the Rights Agreement, such Rights will be evidenced by separate
certificates and will no longer be evidenced by this certificate. The Company will mail to the holder of this certificate a copy of the Rights Agreement, as in effect on the date of mailing, without
charge, promptly after receipt of a written request therefor. Under certain circumstances set forth in the Rights Agreement, Rights issued to, or beneficially owned by, any Person who is, was or
becomes an Acquiring Person or an Affiliate or Associate thereof (as such terms are defined in the Rights Agreement), whether currently held by or on behalf of such Person or by any subsequent holder,
may become null and void. 

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EXHIBIT 4.5

EXHIBIT C (Specimen of Legend)

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