Document:

Exhibit 4.2

                           STOCK OPTION PLAN AGREEMENT
                           ---------------------------

                                    Between:
                                    --------

                      North American General Resources Corp.
                         -------------------------------

                                      And:
                                      ----

                                   {OPTIONEE}
                                   ----------

                       North American General Resources Corp.
                         -------------------------------

<PAGE>
                           STOCK OPTION PLAN AGREEMENT
                           ---------------------------

     THIS STOCK OPTION PLAN AGREEMENT (the "Agreement") is made and entered into
to be effective as of the _____ day of May, 2004 (the "Date of Grant").

BETWEEN:

                  North American General Resources Corp.,
                  -------------------------------
                  a company incorporated under the laws of the State of
                  Nevada;

                  (the "Company");

                                                               OF THE FIRST PART
                                                               -----------------

AND:

                  OPTIONEE
                  having an address for notice and delivery located at;
                  OPTIONEE ADDRESS

                  (the "Optionee").

                                                              OF THE SECOND PART
                                                              ------------------

                  witnesseth:
                  -----------

     Whereas, effective as of May 11, 2004, the Board of Directors of the
Company determined that the Optionee should receive an option to purchase shares
of the Company's common stock (the "Common Stock") in order to provide the
Optionee with an opportunity for investment in the Company and additional
incentive to pursue the success of the Company, said option to be for the number
of shares, at the price per share and on the terms as set forth in this
Agreement;

     AND WHEREAS the Optionee desires to receive an option on the terms and
conditions set forth in this Agreement;

<PAGE>
     NOW, THEREFORE, the parties to this Agreement agree as follows:

1.   Grant of Option.
     ---------------

     The Company hereby grants to the Optionee, as a matter of separate
agreement and not in lieu of salary or any other compensation for service, the
right and option (the "Option") to purchase all or any part of an aggregate of
_________ shares of the authorized and unissued U.S. $0.001 par value Common
Stock of the Company (collectively, the "Option Shares") pursuant to the terms
and conditions as set forth in this Agreement.

2.   Option Price.
     ------------

     At any time when shares are to be purchased pursuant to the Option, the
purchase price for each Option Share shall be U.S. $0.005 (the "Option Price").

3.   Option Period.
     -------------

     The option period with respect to all of the Option Shares shall commence
from the Date of Grant and shall terminate three years from the Date of Grant,
unless terminated earlier as provided in this Agreement. If the Optionee's
employment is terminated for any reason other than death or for cause, any
options granted to the Optionee which have not been exercised shall terminate
immediately or shall terminate, at the sole discretion of the Company, within up
to 90 calendar days after the effective date of such termination and shall be
exercisable during such 90-day period only to the extent they were exercisable
on the effective date of termination. If the Optionee's employment terminates
because of death, the Option may be exercised by the Optionee's estate in full
for one year after such death; provided, always, that payment is tendered within
one year after the date of death. If the Optionee's employment is terminated for
cause, any unexercised portion of the Option shall immediately expire.

4.   Exercise of Option.
     ------------------

     (a) The Option may be exercised by delivering to the Company:

          (i)  a Notice and Agreement of Exercise of Option (the "Notice and
               Agreement of Exercise of Option"), substantially in the form
               attached hereto as Exhibit "A", specifying the number of Option
               Shares with respect to which the Option is exercised, and

          (ii) full payment of the Option Price for such shares, either in cash
               or by certified check, or a combination thereof.

     (b)  Promptly upon receipt of the Notice and Agreement of Exercise of
          Option and the full payment of the Option Price by the Optionee
          (including payment or provision for payment of any applicable
          withholding or similar taxes), the Company shall deliver to the
          Optionee a properly executed certificate or certificates representing
          the Option Shares being purchased.

<PAGE>
5.   Securities Laws Requirements.
     ----------------------------

     No Option Shares shall be issued unless and until, in the opinion of the
Company, any applicable registration requirements of the United States
Securities Act of 1933, as amended (the "Securities Act"), any applicable
listing requirements of any securities exchange on which stock of the same class
has been listed, and any other requirements of law or any regulatory bodies
having jurisdiction over such issuance and delivery have been fully complied
with. Pursuant to the terms of the Notice and Agreement of Exercise of Option
that shall be delivered to the Company upon each exercise of the Option, the
Optionee, and the Optionee's designate if applicable, shall acknowledge,
represent, warrant and agree as follows:

     (a)  all Option Shares shall be acquired solely for the account of the
          Optionee, or for the account of the Optionee's designate if
          applicable, for investment purposes only and with no view to their
          resale or other distribution of any kind;

     (b)  no Option Shares shall be sold or otherwise distributed in violation
          of the Securities Act or any other applicable federal or state
          securities laws;

     (c)  if the Optionee, or the Optionee's designate if applicable, is subject
          to reporting requirements under Section 16(a) of the United States
          Securities Exchange Act of 1934, as amended (the "Exchange Act"), the
          Optionee, or the Optionee's designate if applicable, shall:

          (i)  be aware that the grant of the Option to purchase Option Shares
               is an event that may require reporting on Forms 3, 4 or 5 under
               Section 16(a) of the Exchange Act;

          (ii) be aware that any sale by him or his immediate family of the
               Company's Common Stock or of any of the Option Shares within six
               months before or after any grant or exercise of the Option may
               create liability for him under Section 16(b) of the Exchange Act;

          (iii) consult with his counsel regarding the application of Section
               16(b) of the Exchange Act prior to any exercise of the Option,
               and prior to any sale of the Company's Common Stock or the Option
               Shares within six months after any grant or exercise of the
               Option;

          (iv) assist the Company with the filing of the applicable Forms 3, 4
               or 5 with the Securities and Exchange Commission; and

          (v)  timely file all reports required under the federal securities
               laws;

<PAGE>
     (d)  the Optionee, or the Optionee's designate if applicable, shall report
          all sales of Option Shares to the Company in writing on a form
          prescribed by the Company; and

     (e)  if any of the Option Shares are being acquired solely for the account
          of the Optionee's designate, each of the Optionee and the Optionee's
          designate is either a consultant or advisor to the Company, the
          Optionee is under privity of contract or arrangement with the Company
          and each of the Optionee and the Optionee's designate, in such
          capacity, has rendered bona fide services to the Company which
          include, but are not limited to, financial, administrative and/or
          managerial services; provided that neither the Optionee nor the
          Optionee's designate rendered or renders services, directly or
          indirectly, to promote or maintain a market for the Company's
          securities and, furthermore, provided that no such services were
          rendered or are being rendered in connection with the offer or sale of
          securities in a capital-raising transaction on behalf of the Company;
          failing any of which any Option Shares acquired hereunder may not be
          or may not have been registerable under the Securities Act and may not
          be sold unless they are sold pursuant to an exemption from
          registration under the Securities Act.

     The foregoing restrictions or notice thereof shall be placed on the
certificates representing the Option Shares purchased pursuant to the Option and
the Company may refuse to issue the certificates or to transfer the shares on
its books unless it is satisfied that no violation of such restrictions will
occur.

6.   Transferability of Option.
     -------------------------

     The Option shall not be transferable except by will or the laws of descent
and distribution, and any attempt to do so shall void the Option. During the
Optionee's lifetime the Option is exercisable only by the Optionee, however, and
in accordance with the provisions hereof, any Option Shares being acquired
hereunder may, at the prior direction of the Optionee, be acquired by the
Optionee or by the Optionee's designate.

7.   Adjustment by Stock Split, Stock Dividend, etc.
     ----------------------------------------------

     If at any time the Company increases or decreases the number of its
outstanding shares of Common Stock, or changes in any way the rights and
privileges of such shares, by means of the payment of a stock dividend or the
making of any other distribution on such shares payable in its Common Stock, or
through a stock split or subdivision of shares, or a consolidation or
combination of shares, or through a reclassification or recapitalization
involving its Common Stock, the numbers, rights and privileges of the shares of
Common Stock included in the Option shall be increased, decreased or changed in
like manner as if such shares had been issued and outstanding, fully paid and
non-assessable at the time of such occurrence.

<PAGE>

8.   Merger or Consolidation.
    ------------------------

     (a)  Effect of transaction. Upon the occurrence of any of the following
          events, if the notice required by paragraph 8(b) hereinbelow has been
          given, the Option shall automatically terminate and be of no further
          force or effect whatsoever:

          (i)  the dissolution or liquidation of the Company;

          (ii) the appointment of a receiver for all, or substantially all, of
               the Company's assets or business;

          (iii) the appointment of a trustee for the Company after a petition
               has been filed for the Company's reorganization under applicable
               statutes; or

          (iv) the sale, lease or exchange of all, or substantially all, of the
               Company's assets and business.

     (b)  Notice of such occurrence. At least 30 days' prior written notice of
          any event described in paragraph 8(a) hereinabove, except the
          transactions described in subparagraphs 8(a)(ii) and (iii) as to which
          no notice shall be required, shall, at the Company's option, be given
          by the Company to the Optionee. After receipt of such notice the
          Optionee may, at any time before the occurrence of the event requiring
          the giving of notice, exercise the unexercised portion of the Option
          as to all the shares covered thereby. Such notice shall be deemed to
          have been given when delivered personally to the Optionee or pursuant
          to the provisions of paragraph 11 of this Agreement. If no such notice
          shall be given with respect to a transaction described in
          subparagraphs 8(a)(i), (ii) or (iv), the provisions of paragraph 8(a)
          shall not apply and the Option shall not terminate upon the occurrence
          of such transaction.

9.   Common Stock to be Received upon Exercise.
     -----------------------------------------

     The Optionee understands that the Company is under no obligation to
register the Option Shares under the Securities Act, and that, in the absence of
any such registration, the Option Shares cannot be sold unless they are sold
pursuant to an exemption from registration under the Securities Act. The Company
is under no obligation to comply, or to assist the Optionee in complying with,
any exemption from such registration requirement, including supplying the
Optionee with any information necessary to permit routine sales of the Option
Shares under Rule 144 of the United States Securities and Exchange Commission
(the "Rule"). The Optionee also understands that, with respect to the Rule,
routine sales of securities made in reliance upon such Rule only can be made in
limited amounts in accordance with the terms and condition of the Rule, and that
in cases in which the Rule is inapplicable, compliance with either Regulation A
or another disclosure exemption under the Securities Act will be required. Thus,
the Option Shares will have to be held indefinitely in the absence of
registration under the Securities Act or an exemption from registration.

<PAGE>
     Furthermore, the Optionee fully understands that the Option Shares have not
been registered under the Securities Act and that they will be issued in
reliance upon an exemption which is available only if Optionee, or the
Optionee's designate if applicable, acquires such shares for investment and not
with a view to distribution. The Optionee is familiar with the phrase "acquired
for investment and not with a view to distribution" as it relates to the
Securities Act and the special meaning given to such term in various releases of
the Securities and Exchange Commission.

10.  Privilege of Ownership.
     ----------------------

     The Optionee and the Optionee's designate shall not have any of the rights
of a shareholder with respect to the Option Shares covered by the Option except
to the extent that one or more certificates for such Option Shares shall be
delivered to them upon exercise of the Option.

11.  Notices.
     -------

     Any notices required or permitted to be given under this Agreement shall be
in writing and they shall be deemed to be given upon receipt by sender or
sender's return receipt for acknowledgment of delivery of said notice by postage
prepaid registered mail. Such notice shall be addressed to the party to be
notified as shown below:

                  The Company:        North American General Resources Corp.
                                          8190 King George Hwy.
                                          Surrey, BC, Canada

                  The Optionee:     At the address listed below his name
                                    on the front page of this Agreement.

     Any party may change its address for purposes of this paragraph by giving
the other party written notice of the new address in the manner set forth above.

12.   General Provisions.
      ------------------

     (a)  Amendments. This Agreement may not be amended nor may any rights
          hereunder be waived except by an instrument in writing signed by the
          party sought to be charged with such amendment or waiver.

     (b)  Proper law. This Agreement shall be construed in accordance with, and
          governed by, the laws of the State of Colorado, U.S.A.

     (c)  Time of the essence. Time shall be of the essence of this Agreement.

     (d)  Gender. All pronouns contained herein and any variations thereof shall
          be deemed to refer to the masculine, feminine or neuter, singular or
          plural as the identity of the parties hereto may require.

<PAGE>
     (e)  Entire agreement. The provisions contained herein constitute the
          entire agreement between the parties hereto and supersede all previous
          understandings and agreements with respect to the granting of the
          within Option.

     (f)  Enurement. This Agreement shall enure to the benefit of and bind the
          parties hereto and shall, to the extent hereinbefore provided, enure
          to the parties' respective heirs, executors, successors,
          administrators and assigns.

     (g)  Approvals. This Agreement is or may be subject to the prior approval
          of all regulatory authorities having jurisdiction over the Company
          where required by the laws, regulations and by-laws to which the
          Company is subject, and, where not already obtained, is or may be
          subject, prior to exercise of the Option, to the approval by the
          shareholders of the Company to the granting of options in the capital
          stock of the Company.

     IN WITNESS WHEREOF, the parties hereto have executed this Agreement to be
effective as of the day and year first above written.

North American General Resources Corp.
-------------------------------

-------------------------------
Authorized Signatory

SIGNED, SEALED and DELIVERED by
OPTIONEE

the Optionee herein, in the presence of:

-----------------------------------------
Witness Signature
                                                     ---------------------------
                                                             {OPTIONEE}
-----------------------------------------
Witness Address

-----------------------------------------
Witness Name and Occupation

<PAGE>

                                    EXHIBIT A
                                    ---------

                       TO: North American General Resources Corp.

                       -----------------------------------
                           STOCK OPTION PLAN AGREEMENT
                           ---------------------------

                   NOTICE AND AGREEMENT OF EXERCISE OF OPTION
                   ------------------------------------------

     The Optionee hereby exercises its North American General Resources Corp.
 Stock Option dated __________________________________________ , 2004 as to
________________ shares of North American General Resources Corp. Common Stock
(each an "Option Share").

     Enclosed are the documents and payment specified in paragraph 4 of the
Optionee's Option Agreement.

     The Optionee, and the Optionee's designate if applicable, understands that
no Option Shares will be issued unless and until, in the opinion of Savoy
Capital Investments, Inc. (the "Company"), any applicable registration
requirements of the Securities Act of 1933, as amended (the "Securities Act"),
exchange on which stock of the same class is then listed, and any other
requirements of law or any regulatory bodies having jurisdiction over such
issuance and delivery, shall have been fully complied with. The Optionee, and
the Optionee's designate if applicable, hereby acknowledges, represents,
warrants and agrees, to and with the Company as follows:

     (a)  the Option Shares the Optionee, or the Optionee's designate if
          applicable, is purchasing are being acquired for the Optionee's, or
          for the Optionee's designate's if applicable, own account for
          investment purposes only and with no view to their resale or other
          distribution of any kind, and no other person (except if the Optionee,
          or the Optionee's designate if applicable, is married, that person's
          spouse) will own any interest therein;

     (b)  the Optionee, or the Optionee's designate if applicable, will not sell
          or dispose of the Option Shares in violation of the Securities Act or
          any other applicable federal or state securities laws;

     (c)  if and so long as the Optionee, or the Optionee's designate if
          applicable, is subject to the reporting requirements under Section
          16(a) of the Securities Exchange Act of 1934, as amended (the
          "Exchange Act"), the Optionee, and the Optionee's designate if
          applicable, recognizes that any sale by the Optionee, or by the
          Optionee's designate if applicable, or their respective and immediate
          families, of the Company's Common Stock within six months before or
          after any grant or exercise of the Optionee's stock Option may create
          liability for the Optionee, or for the Optionee's designate if
          applicable, under Section 16(b) of the Exchange Act ("Section 16(b)");

     (d)  the Optionee, and the Optionee's designate if applicable, has
          consulted with the Optionee's, and the Optionee's designate's if
          applicable, counsel regarding the application of Section 16(b) to this
          exercise of the Optionee's stock Option;

<PAGE>
     (e)  the Optionee, and the Optionee's designate if applicable, will consult
          with their respective counsel regarding the application of Section
          16(b) before the Optionee, or the Optionee's designate if applicable,
          makes any sale of the Company's Common Stock, including the Option
          Shares, within six months after the date of this Agreement;

     (f)  the Optionee, and the Optionee's designate if applicable, will report
          all sales of Option Shares to the Company in writing on a form
          prescribed by the Company;

     (g)  the Optionee, and the Optionee's designate if applicable, will assist
          the Company in the filing of and will timely file all reports that the
          Optionee, or the Optionee's designate if applicable, may be required
          to file under the federal securities laws;

     (h)  the Optionee, and the Optionee's designate if applicable, agrees that
          the Company may, without liability for its good faith actions, place
          legend restrictions upon the Option Shares and issue "stop transfer"
          instructions requiring compliance with applicable securities laws and
          the terms of the Optionee's stock Option; and

     (i)  if any of the Option Shares are being acquired solely for the account
          of the Optionee's designate, each of the Optionee and the Optionee's
          designate is either a consultant or advisor to the Company, the
          Optionee is under privity of contract or arrangement with the Company
          and each of the Optionee and the Optionee's designate, in such
          capacity, has rendered bona fide services to the Company which
          include, but are not limited to, financial, administrative and/or
          managerial services; provided that neither the Optionee nor the
          Optionee's designate rendered or renders services, directly or
          indirectly, to promote or maintain a market for the Company's
          securities and, furthermore, provided that no such services were
          rendered or are being rendered in connection with the offer or sale of
          securities in a capital-raising transaction on behalf of the Company;
          failing any of which any Option Shares acquired hereunder may not be
          or may not have been registerable under the Securities Act and may not
          be sold unless they are sold pursuant to an exemption from
          registration under the Securities Act.

     The foregoing restrictions or notice thereof shall be placed on the
certificates representing the Option Shares purchased pursuant to the Option and
the Company may refuse to issue the certificates or to transfer the Option
Shares on its books unless it is satisfied that no violation of such
restrictions will occur.

     The number of Option Shares specified above are to be issued in the
following registration manner as directed by the Optionee and, if applicable, to
the Optionee's designate as set forth hereinbelow:

     Registration respecting the Optionee (must be completed by the Optionee):
     -------------------------------------------------------------------------

----------------------------------------      ----------------------------------
        (Print Optionee's name)                      (Optionee's signature)

----------------------------------------      ----------------------------------
  (Optionee - Print name of spouse                   (Address for Optionee)
   if you wish joint registration)
                                              ----------------------------------

<PAGE>

Registration respecting the Optionee's designate (complete if applicable only):
-------------------------------------------------------------------------------

----------------------------------------      ----------------------------------
 (Print Optionee's designate's name)          (Optionee's designate's signature)

----------------------------------------      ----------------------------------
(Optionee's designate - Print name of         (Address for Optionee's designate)
spouse if you wish joint registration)
                                              ----------------------------------Exhibit
4.1

 

FIRST SUPPLEMENTAL
INDENTURE

 

to

 

INDENTURE, DATED AS OF
SEPTEMBER 30, 2002

 

This FIRST
SUPPLEMENTAL INDENTURE (the “Supplemental Indenture”), is entered into as of
February 1, 2004, by and among Staples, Inc., a Delaware corporation (the “Company”);
Staples the Office Superstore, LLC, a Delaware limited liability corporation
(the “LLC”), and Staples the Office Superstore, Limited Partnership, a
Massachusetts partnership (the “Partnership”) (each, a “Subsidiary Guarantor”
and collectively, the “Subsidiary Guarantors”), and Staples Contract &
Commercial, Inc. (“SCC”), and Staples the Office Superstore East, Inc.
(“STOSE”) (each, an Initial Subsidiary Guarantor and collectively, the “Initial
Subsidiary Guarantors”); and HSBC Bank USA, a banking corporation and trust
company duly organized and existing under the laws of the State of New York, as
trustee under the Indenture referred to below (the “Trustee”).

 

W I T N E S S E T H

 

WHEREAS, the
Company has heretofore executed and delivered to the Trustee an indenture,
dated as of September 30, 2002 (the “Indenture”), providing for the issuance
from time to time of its unsecured debentures, notes or other evidences of
indebtedness (the “Securities”);

 

WHEREAS, each of
the Initial Subsidiary Guarantors, Rochester Capital, LLC (“Rochester”),
Hackensack Funding, LLC (“Hackensack”), and Staples the Office Superstore, Inc.
(“STOS”) executed and delivered to the Trustee the Indenture to provide for its
full,

 

 

unconditional,
irrevocable and joint and several guarantee of the Securities and of the
obligations of the Company under the Indenture;

 

WHEREAS, on
September 30, 2002, the Company issued a series of Securities, consisting of
$375,000,000 principal amount of its 7.375% Senior Notes due October 1, 2012 pursuant
to the Indenture;

 

WHEREAS, each of
the Subsidiary Guarantors is a direct or indirect wholly owned subsidiary of
the Company;

 

WHEREAS, the Board
of Directors of the Company has resolved that it is advisable and in the best
interests of the Company to reorganize the domestic supply chain operations of
the Company (the “Reorganization”) and to take certain other actions in
connection therewith in furtherance of certain stated business purposes;

 

WHEREAS, in
connection with the Reorganization, Rochester has been merged with and into
STOS, and Hackensack has been merged with and into STOS (the “Mergers”);

 

WHEREAS, in
connection with the Reorganization, the LLC has been formed as a limited
liability company under the Delaware Limited Liability Company Act by the
filing on the date hereof of a Certificate of Formation in the Office of the
Secretary of State of the State of Delaware;

 

WHEREAS, on the
date hereof, STOS was converted into the LLC, and the LLC has succeeded to the
business and assets of STOS (the “Conversion”);

 

WHEREAS, at the
time of the Conversion, the sole Member of the LLC was the Company;

 

WHEREAS, at the
time of the Conversion, the LLC was (i) the owner of 100% of the outstanding
capital stock of STOSE; and, (ii) the sole shareholder of Staples Real Estate
Trust, a

 

2

 

trust with transferable
shares organized under Chapter 182 of the Massachusetts General Laws (“SRET”),
(iii) the sole shareholder of Staples Trust Company, a trust with transferable
shares organized under Chapter 182 of the Massachusetts General Laws (“STC”),
(iv) the sole limited partner of Coppell Mill Limited Partnership, a Delaware
limited partnership (“CMLP”), and (v) the holder of certain intercompany
payables and receivables (the “Payables and Receivables”);

 

WHEREAS,
immediately following the Conversion, the LLC distributed all of the shares of
beneficial interest of SRET and STC to the Company, the sole member of the LLC
at the time of such distribution, and transferred for no consideration its
entire right, title and interest in the limited partnership interest in CMLP to
Staples Partners, LLC, a Delaware limited liability company, the sole member of
which is the Company (all of such distributions, the “Interest Distributions”);

 

WHEREAS,
simultaneously with the Interest Distributions, the LLC distributed all of the
Payables and Receivables to the Company, the sole member of the LLC at the time
of such distribution (the “Payables and Receivables Distribution”);

 

WHEREAS,
simultaneously with the Interest Distributions and the Payables and Receivables
Distribution, the LLC distributed all of the capital stock of STOSE to the
Company, the sole member of the LLC at the time of such distribution (the
“STOSE Share Distribution”);

 

WHEREAS,
immediately following the STOSE Share Distribution: (i) STOSE and the Company
formed the Partnership, (ii) the Company agreed to contribute 99% of its
interest in the LLC to STOSE and 1% of its interest in the LLC directly to the
Partnership, (iii) the Company contributed such 99% interest in the LLC to
STOSE, (iv) STOSE contributed its 99% interest in the LLC to the Partnership,
and (v) at the time STOSE contributed such 99% interest in the LLC

 

3

 

to the Partnership, the
Company also contributed its 1% interest in the LLC to the Partnership (the
“Contributions”);

 

WHEREAS, as a
result of the foregoing transactions, the Partnership has become the sole owner
of all of the interests in the LLC;

 

WHEREAS, the
Partnership has agreed to accept certain of the Contributions subject to its
providing a guarantee of the Company’s payment obligations under the Indenture
as set forth herein;

 

WHEREAS, the
Company and the Initial Subsidiary Guarantors each desires to confirm its
obligations under the Indenture following the Mergers, the Conversion and the
Contributions;

 

WHEREAS, Section
901 of the Indenture contemplates the execution of supplemental indentures
without the consent of any Holders of Securities for the purposes stated
therein;

 

WHEREAS, the
Company desires and has requested the Trustee, in a Company Request, to join in
the execution and delivery of this Supplemental Indenture for the purpose of
supplementing the Indenture in certain respects as set forth in this
Supplemental Indenture;

 

WHEREAS, such
Company Request was accompanied by a Board Resolution of the Company, each of
the Initial Subsidiary Guarantors and each of the Subsidiary Guarantors
authorizing the execution of this Supplemental Indenture and by an Opinion of
Counsel as required by the Indenture;

 

WHEREAS, pursuant
to Section 901 of the Indenture, upon receipt of the documents set forth in the
preceding recitals, the Trustee shall join in the execution of a supplemental
indenture without the consent of the Holders for the purposes set forth in the
preceding recitals; and

 

WHEREAS, all
things necessary to make this Supplemental Indenture a valid supplement to the
Indenture have been done.

 

4

 

NOW, THEREFORE, in
consideration of the foregoing and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the Company, the
Subsidiary Guarantors, the Initial Subsidiary Guarantors and the Trustee
mutually covenant and agree for the equal and proportionate benefit of the
respective Holders from time to time of Securities as follows:

 

1.             CAPITALIZED
TERMS.  Capitalized terms used
herein but not otherwise defined shall have the meanings assigned to them in
the Indenture.

 

2.             AGREEMENT
TO GUARANTEE.  Each Subsidiary
Guarantor hereby absolutely and unconditionally guarantees, jointly and
severally with each other Subsidiary Guarantor and each other Initial
Subsidiary Guarantor, to each Holder of a Security authenticated and delivered
by the Trustee pursuant to the Indenture and to the Trustee and its successors
and assigns, regardless of the validity and enforceability of the Indenture,
the Securities or the obligations of the Company under the Indenture or the
Securities, that:

 

(i)                                     the
principal of, premium, if any, and interest on the Securities will be promptly
paid in full when due, whether at maturity, by acceleration, redemption or
otherwise, and interest on the overdue principal of, premium, if any, and
interest on the Securities, to the extent lawful, and all other payment
obligations of the Company to the Holders or the Trustee thereunder or under
the Indenture will be promptly paid in full, all in accordance with the terms
thereof and of the Indenture; and

 

(ii)                                  in
case of any extension of time for payment or renewal of any Securities, that
the same will be promptly paid in full when due in accordance with

 

5

 

the terms of the extension or renewal, whether at
stated maturity, by acceleration or otherwise.

 

Notwithstanding the foregoing, in the event that this guarantee would
constitute or result in a violation of any applicable fraudulent conveyance of
similar law of any relevant jurisdiction, the liability of each Subsidiary
Guarantor under this Supplemental Indenture and its guarantee shall be reduced
to the maximum amount permissible under such fraudulent conveyance or similar
law.

 

3.             AGREEMENTS
AND OBLIGATIONS OF SUBSIDIARY GUARANTORS.

 

(a)           If
the Company shall default in the due and punctual payment of any obligation
under the Indenture including under the Securities, without the necessity of
action by the Trustee or any Holder of Securities, the Subsidiary Guarantor
will promptly and fully make such payments in the same manner as required to
have been made by the Company.

 

(b)           To
the extent permitted by law, the obligations of each Subsidiary Guarantor
hereunder shall be continuing, absolute and unconditional, and shall not be
impaired, modified, released or limited by any occurrence or condition
whatsoever, including, without limitation, (i) any compromise, settlement,
release, waiver, renewal, extension, indulgence or modification of, or any
change in, any of the obligations and liabilities of the Company contained in
the Securities or in the Indenture or of any other Initial Subsidiary Guarantor
contained in the Indenture or of any Subsidiary Guarantor contained in this
Supplemental Indenture, (ii) any impairment, modification, release or limitation
of the liability of the Company or of any of the Initial Subsidiary Guarantors
or of any other Subsidiary Guarantor in bankruptcy, or any remedy for the
enforcement thereof, resulting from the operation of any present or future
provision of any applicable federal or state bankruptcy, insolvency,

 

6

 

reorganization or other similar laws or from the decision of any court,
(iii) the assertion or exercise by the Company, any of the Initial Subsidiary
Guarantors, any other Subsidiary Guarantor, or the Trustee of any rights or
remedies under the Securities, the Indenture or this Supplemental Indenture or
their delay in or failure to assert or exercise any such rights or remedies,
(iv) the voluntary or involuntary liquidation, dissolution, sale or other
disposition of all or substantially all of the assets, marshaling of assets and
liabilities, receivership, insolvency, bankruptcy, assignment for the benefit
of creditors, reorganization, arrangement, composition or readjustment of, or
other similar proceeding affecting, the Company, any of the Initial Subsidiary
Guarantors or any other Subsidiary Guarantor or any of their assets, or the
disaffirmance of this Supplemental Indenture or the Securities or the Indenture
in any such proceeding, (v) the release or discharge of the Company, any of the
Initial Subsidiary Guarantors, or any other Subsidiary Guarantor from the
performance or observance of any agreement, covenant, term or condition
contained in any of such instruments by operation of law, (vi) the
unenforceability of the Securities, the Indenture or this Supplemental
Indenture or (vii) any other circumstance which might otherwise constitute a
legal or equitable discharge of a surety or guarantor.

 

(c)           Each
Subsidiary Guarantor hereby (i) waives diligence, presentment, demand for
payment, filing of claims with a court in the event of the merger or bankruptcy
of the Company, any right to require a proceeding first against the Company or
to realize on any collateral, protest, notice and all demands whatsoever with
respect to the payment obligations of the Company under the Indenture, (ii)
agrees that its obligations hereunder constitute a guarantee of payment and not
of collection and are not in any way conditional or contingent upon any attempt
to collect from or enforce against the Company or upon any other condition or
contingency, (iii) acknowledges that any agreement, instrument or document
evidencing the

 

7

 

obligations of the Company under the Indenture may be transferred and
that the benefit of its obligations hereunder shall extend to each holder of
any agreement, instrument or document evidencing such obligations without
notice to them and (iv) covenants that its guarantee will not be discharged
except by complete performance of the payment obligations under the Securities
and the Indenture.

 

(d)           Each
Subsidiary Guarantor further agrees that if at any time all or any part of any
payment theretofore applied by any person to any payment obligation is, or must
be, rescinded or returned for any reason whatsoever, including, without
limitation, the insolvency, bankruptcy or reorganization of the Company, any of
the Initial Subsidiary Guarantors or any other Subsidiary Guarantor, such
obligations shall for the purposes of the guarantee, to the extent that such
payment is or must be rescinded or returned, be deemed to have continued in
existence notwithstanding such application, and the guarantee made pursuant to
this Supplement Indenture shall continue to be effective or be reinstated, as
the case may be, as to such payment obligation as though such application had
not been made.

 

(e)           Each
Subsidiary Guarantor shall, to the extent of any payment made by it pursuant to
this Supplemental Indenture, be subrogated to all rights of the Trustee and the
Holders of the Securities as to all payments and damages payable by the Company
with respect to which payments have been made by such Subsidiary  Guarantor, but, so long as any payment
obligation remains outstanding, such right of subrogation on the part of such
Subsidiary Guarantor shall be subject to the payment in full or discharge of
all such payment obligations.

 

(f)            Each
of the Subsidiary Guarantors and each of the Initial Subsidiary Guarantors
shall have the right to seek contribution from any other non-paying Subsidiary
Guarantor or Initial Subsidiary Guarantor so long as the exercise of such right
does not impair

 

8

 

the rights of the Holders or the Trustee under the guarantees made
pursuant to the Indenture and this Supplemental Indenture.

 

4.             CONVEYANCE,
TRANSFER OR LEASE BY SUBSIDIARY GUARANTORS.

 

Nothing contained
in the Indenture, this Supplemental Indenture or in the Securities shall
prevent any conveyance, transfer or lease of the properties and assets of any
Subsidiary Guarantor or Initial Subsidiary Guarantor (whether or not as an
entirety) to the Company or any other Subsidiary Guarantor or Initial
Subsidiary Guarantor, or any other Person that guarantees the Company’s payment
obligations, which guarantee is evidenced by the execution of a supplemental
indenture substantially in the form of this Supplemental Indenture and has the
same effect as if such Person were a Subsidiary Guarantor hereunder.

 

5.             RELEASE
FOLLOWING SALE OF VOTING STOCK.  If
and when all of the issued and outstanding shares of Voting Stock of a
Subsidiary Guarantor are sold, directly or indirectly, by the Company or
another Wholly Owned Subsidiary of the Company to any Person (other than the
Company or another Wholly Owned Subsidiary of the Company) and such sale is in
accordance with any applicable terms of the Indenture, then, upon delivery by
the Company of an Officers’ Certificate and Opinion of Counsel stating that all
conditions precedent, if any, provided in the Indenture relating to the release
of such Subsidiary Guarantor from its obligations under the Subsidiary
Guarantee and the Indenture have been complied with, the guarantee of such Subsidiary
Guarantor shall be released and discharged in full.

 

9

 

6.             CONFIRMATION
OF OBLIGATIONS.  The Company, each
Initial Subsidiary Guarantor and each Subsidiary Guarantor hereby confirm, and
upon and in connection with the consummation of the Mergers, the Company, each
Initial Subsidiary Guarantor and each Subsidiary Guarantor confirm that each
shall observe and perform and be bound by all of the terms, covenants and
conditions of the Indenture, as supplemented by this Supplemental Indenture.

 

7.             MISCELLANEOUS.

 

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

 

(b)           Counterparts.  This Supplemental Indenture may be executed
in any number of counterparts, each of which shall be an original, but such
counterparts shall together constitute but one and the same instrument.

 

(c)           Effect
of Headings.  The section headings
herein are for convenience only and shall not affect the construction hereof.

 

(d)           Effective
Date.  This Supplemental Indenture
shall be effective as of February 1, 2004.

 

(e)           Recitals.  The recitals contained herein shall be the
statements of the Company, and the Trustee assumes no responsibility for their
correctness.  The Trustee shall not be
responsible for, and assumes no liability with respect to, the validity or
sufficiency of this Supplemental Indenture.

 

(f)            Interpretation.  Except as expressly supplemented by this
Supplemental Indenture, the Indenture shall remain in full force and
effect.  All the terms and conditions of
this

 

10

 

Supplemental Indenture shall be deemed to be part of the terms and
conditions of the Indenture for any and all purposes.

 

11

 

IN WITNESS
WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly
executed and in the case of the Company, the Subsidiary Guarantors and the
Initial Subsidiary Guarantors attested, all as of the date first above written.

 

	
  [CORPORATE SEAL]

  	
  STAPLES, INC.

  
	
   

  
	
   

  
	
  Attest:

  	
    /s/ Mark A. Weiss

  	
   

  	
  By:

  	
     /s/ John J. Mahoney

  	
   

  
	
  Name:

  	
  Mark A. Weiss

  	
  Name:

  	
  John J. Mahoney

  
	
   

  	
   

  	
  Title:

  	
  Executive Vice President,

  
	
   

  	
   

  	
   

  	
  Chief Financial Officer and

  
	
   

  	
   

  	
   

  	
  Chief Administrative Officer

  
	
   

  
	
   

  
	
   

  	
   

  	
  STAPLES THE OFFICE SUPERSTORE,

  LLC

  
	
   

  	
   

  	
  as Subsidiary Guarantor

  
	
   

  	
   

  	
   

  
	
  Attest:

  	
    /s/ Mark A. Weiss

  	
   

  	
  By:

  	
    /s/ John J. Mahoney

  	
   

  
	
  Name:

  	
  Mark A. Weiss

  	
  Name: 

  	
  John J. Mahoney

  
	
   

  	
   

  	
  Title:

  	
  Executive Vice President,

  
	
   

  	
   

  	
   

  	
  Chief Financial Officer and

  
	
   

  	
   

  	
   

  	
  Chief Administrative Officer

  
	
   

  
	
   

  	
   

  	
  STAPLES THE OFFICE SUPERSTORE,

  
	
   

  	
   

  	
  Limited Partnership

  
	
   

  	
   

  	
  as Subsidiary Guarantor

  
	
   

  	
   

  
	
  Attest:

  	
    /s/ Mark A. Weiss

  	
   

  	
  By Staples, Inc., its General Partner

  
	
  Name:

  	
  Mark A. Weiss

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
    /s/ John J. Mahoney

  	
   

  
	
   

  	
   

  	
  Name:

  	
  John J. Mahoney

  
	
   

  	
   

  	
  Title:

  	
  Executive Vice President,

  
	
   

  	
   

  	
   

  	
  Chief Financial Officer and

  Chief Administrative Officer

  
													

 

 

	
  [CORPORATE SEAL]

  	
  STAPLES CONTRACT &

  
	
   

  	
  COMMERCIAL, INC.

  
	
   

  	
  as Initial Subsidiary Guarantor

  
	
   

  	
   

  
	
   

  	
   

  
	
  Attest:

  	
     /s/ Mark A. Weiss

  	
   

  	
  By:

  	
     /s/ John J. Mahoney

  	
   

  
	
  Name:

  	
  Mark A. Weiss

  	
   

  	
  Name:

  	
  John J. Mahoney

  
	
   

  	
   

  	
   

  	
  Title:

  	
  Executive Vice President,

  
	
   

  	
   

  	
   

  	
   

  	
  Chief Financial Officer and

  
	
   

  	
   

  	
   

  	
   

  	
  Chief Administrative Officer

  
	
   

  
	
  [CORPORATE SEAL]

  	
  STAPLES THE OFFICE

  
	
   

  	
   

  	
  SUPERSTORE EAST, INC.

  
	
   

  	
   

  	
  as Initial Subsidiary Guarantor

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Attest:

  	
    /s/ Mark A. Weiss

  	
   

  	
  By:

  	
    /s/ John J. Mahoney

  	
   

  
	
  Name:

  	
  Mark A. Weiss

  	
  Name:

  	
  John J. Mahoney

  
	
   

  	
   

  	
   

  	
  Title:

  	
  Executive Vice President,

  
	
   

  	
   

  	
   

  	
   

  	
  Chief Financial Officer and

  
	
   

  	
   

  	
   

  	
   

  	
  Chief Administrative Officer

  
	
   

  
	
   

  
	
   

  	
  HSBC BANK USA,

  
	
   

  	
  as Trustee

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
    /s/ Frank J. Godino

  	
   

  
	
   

  	
   

  	
   

  	
  Name:

  	
  Frank J. Godino

  
	
   

  	
   

  	
   

  	
  Title:

  	
  Vice President

  
																

 

 

	
  COMMONWEALTH OF MASSACHUSETTS

  	
  )

  
	
   

  	
  : ss.:

  
	
  COUNTY OF MIDDLESEX

  	
  )

  

 

On the 1st
day of February, 2004, before me personally came John J. Mahoney, to me known,
who, being by me duly sworn, did depose and say that he is Executive Vice
President, Chief Financial Officer, Chief Administrative Officer of Staples,
Inc., Staples the Office Superstore East, Inc., and Staples Contract and
Commercial, Inc., the corporations described in and which executed the
foregoing instrument and that the foregoing instrument was executed by
authority of the Board of Directors of said corporations.

 

	
   

  	
    /s/ Lisa L. Foley

  	
   

  
	
   

  	
  Notary Public

  

 

 

	
  COMMONWEALTH OF MASSACHUSETTS

  	
  )

  
	
   

  	
  : ss.:

  
	
  COUNTY OF MIDDLESEX

  	
  )

  

 

On the 1st
day of February, 2004, before me personally came John J. Mahoney, to me known,
who, being by me duly sworn, did depose and say that he is Executive Vice
President, Chief Financial Officer, Chief Administrative Officer of Staples the
Office Superstore, LLC, a limited liability company described in and which
executed the foregoing instrument; that he signed his name thereto by authority
of the Managers of said limited liability companies.

 

	
   

  	
    /s/ Lisa L. Foley

  	
   

  
	
   

  	
  Notary Public

  

 

 

	
  COMMONWEALTH OF MASSACHUSETTS

  	
  )

  
	
   

  	
  : ss.:

  
	
  COUNTY OF MIDDLESEX

  	
  )

  

 

On the 1st
day of February, 2004, before me personally came John J. Mahoney, to me known,
who, being by me duly sworn, did depose and say that he is Executive Vice
President, Chief Financial Officer, Chief Administrative Officer of Staples the
Office Superstore, Limited Partnership, a limited partnership described in and
which executed the foregoing instrument and that he signed his name thereto by
authority of the Managing Partner.

 

	
   

  	
    /s/ Lisa L. Foley

  	
   

  
	
   

  	
  Notary Public

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