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exhibit.htm -- Converted by SEC Publisher, created by BCL Technologies Inc., for SEC Filing

AMENDMENT NO. 1 TO RIGHTS AGREEMENT

                                      THIS AMENDMENT NO. 1 (this “Amendment”), dated as of January 15, 2007, to the Rights Agreement, dated as of November 18, 2003 (the “Rights Agreement”) between Genesis HealthCare Corporation, a Pennsylvania corporation (the “Company”) and StockTrans, Inc., as rights agent (the “Rights Agent”).

	R E C I T A L S

     WHEREAS, the Company and the Rights Agent have heretofore executed and entered into the Rights Agreement;

     WHEREAS, the Company desires to amend the Rights Agreement in accordance with Section 27 thereof;

     WHEREAS, the Company and FC-GEN Acquisition, Inc., a Delaware corporation (“Parent”) have entered into an Agreement and Plan of Merger, dated as of January 15, 2007 (as amended and supplemented from time to time, the “Merger Agreement”), pursuant to which a wholly owned Pennsylvania subsidiary of Parent (“Merger Sub”) shall, as soon as practicable, be joined to the Agreement as a constituent party, and Merger Sub will merge with and into the Company (the “Merger”), with the Company as the surviving entity in the Merger;

     WHEREAS, at a special meeting of the Board of Directors of the Company held on January 15, 2007, the Board approved the amendment of the Rights Agreement as set forth herein; and

      NOW, THEREFORE, in consideration of the foregoing and the mutual agreements set forth in the Rights Agreement and herein, the parties hereto agree as follows:

	A G R E E M E N T

NOW, THEREFORE, the Rights Agreement is hereby amended as follows:

     1.          Amendment of the Definition of “Acquiring Person”. Section 1(a) of the Rights Agreement is hereby amended by adding the following sentence to the end thereof:

“The foregoing or any provision to the contrary in this Agreement notwithstanding, no current or future party to that certain Agreement and Plan of Merger, dated as of January 15, 2007, between the Company and FC-GEN Acquisition, Inc. (as it may be amended and supplemented from time to time, the “Merger Agreement”) is, nor shall any of them deemed to be, an Acquiring Person by virtue of (i) the approval, execution or delivery of the Merger Agreement, (ii) the consummation of the Merger (as defined in the Merger Agreement) or any other transaction contemplated by the Merger Agreement or (iii) the public announcement of any of the foregoing.”

 

     2.          Amendment of the Definition of “Distribution Date”. Section 3(a) of the Rights Agreement is hereby amended by adding the following sentence to the end thereof: 

“The foregoing or any provision to the contrary in this Agreement notwithstanding, a Distribution Date shall not be deemed to have occurred solely as the result, directly or indirectly, of (i) the approval, execution or delivery of the Merger Agreement, (ii) the consummation of the Merger (as defined in the Merger Agreement) or any other transaction contemplated by the Merger Agreement or (iii) the public announcement of any of the foregoing.”

     3.          Amendment of Section 7(a). Section 7(a) of the Rights Agreement is hereby amended by deleting “(i) the Close of Business on December 1, 2013 (the “Final Expiration Date”)” and replacing it with the following:

“(i) the earlier of (x) the Close of Business on December 1, 2013 and (y) immediately prior to the Effective Time (as defined in the Merger Agreement) (the “Final Expiration Date”)”

     4.          Amendment of Section 20. Section 20 of the Rights Agreement is hereby amended by adding a new Section 20(j) to the end thereof to read in its entirety as follows:

“The Rights Agent shall not be subject to, nor be required to comply with, or determine if any person or entity has complied with, the Merger Agreement or any other agreement between or among the parties to the Merger Agreement, even though reference to the Merger Agreement may be made in this Amendment, or to comply with any notice, instruction, direction, request or other communication, paper or document other than as expressly set forth in this Amendment and in the Rights Agreement.”

     5.          Amendment of Section 29. Section 29 of the Rights Agreement is hereby amended by adding the following sentence to the end thereof:

“Nothing in this Agreement shall be construed to give any holder of Rights or any other Person any legal or equitable rights, remedies or claims under this Agreement by virtue of (i) the approval, execution or delivery of the Merger Agreement or any related agreements, (ii) the consummation of the Merger, (iii) the consummation of any of the other transactions contemplated by the Merger Agreement and related agreements or (iv) the public announcement of any of the foregoing.”

     6.          Effectiveness. This Amendment shall be deemed effective as of the date first written above, as if executed on such date. Except as specifically amended by this Amendment, all other terms and conditions of the Rights Agreement shall remain in full force and effect and are hereby ratified and confirmed.

     7.          Miscellaneous. This Amendment shall be deemed to be a contract made under the laws of the Commonwealth of Pennsylvania and for all purposes shall be governed by and construed in accordance with the laws of such commonwealth applicable to contracts to be 

made and performed entirely within such State. This Amendment may be executed in any number of counterparts, each of which shall for all purposes be deemed to be an original, and all such
counterparts shall together constitute one and the same instrument. If any term, provision, covenant or restriction of this Amendment is held by a court of competent jurisdiction or other authority to be invalid, void or unenforceable, the remainder
of the terms, provisions, covenants and restrictions of this Amendment shall remain in full force and effect and shall in no way be affected, impaired or invalidated. Except as otherwise expressly provided herein, or unless the context otherwise
requires, capitalized terms used herein shall have the respective meanings assigned to them in the Rights Agreement. The Rights Agent and the Company hereby waive any notice requirement under the Rights Agreement pertaining to the matters covered by
this Amendment.

	
[Signature Page Follows]

                      IN WITNESS WHEREOF, this Amendment has been duly executed by the Company and the Rights Agent as of the day and year first written above.

	GENESIS HEALTHCARE CORPORATION 
	 
	 
	By:          /s/ George V. Hager, Jr.                     
	         Name: George V. Hager, Jr.
	         Title: Chairman & CEO
	 
	 
	STOCKTRANS, INC. 
	 
	 
	 By:___ _/s/ Robert J. Winterle______ ______
	         Name: Robert J. Winterle
	         Title: Vice PresidentForm of Restricted Stock Award Agreement

    EXHIBIT
      10.1

    

    

    Restricted
      Stock Executive Award

    

    

    

    Effective
      as of January
      12, 2007 (“Grant
      Date”), the Company hereby grants to [Participant]
      certain
      rights to ownership of up to: [#
      shares]
      total
      Restricted Shares on the Terms of this Agreement, the attached Program, and
      the
      2004 Sypris Equity Plan (“Plan”) as follows:

    

    

    
      	
              Vesting
                Dates

            	
              #
                of Shares Vesting 

            
	
              January
                12, 2011

            	
              [#
                shares]

            

    

    

    

    

    Intending
      to be legally bound by all such Terms, I acknowledge the sole authority of
      the
      Committee to interpret such Terms, the forfeiture of my rights upon any
      termination of my employment under such Terms and my continuing status as an
“at
      will” employee (subject to termination without cause or notice). I have received
      and had an opportunity to review, with the benefit of any legal counsel of
      my
      choosing, the Plan, the Program and this Award Agreement.

    

    

    

    SYPRIS
      SOLUTIONS, INC.                      PARTICIPANT

    

    

    

    

    By:                                             Signature:       
         

    
Name:                                    Name:  
        

     

    Title:                                    Title:                                     
                
          

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    STANDARD
      TERMS OF AWARDS GRANTED UNDER

    THE
      2007 SPECIAL INCENTIVE EXECUTIVE
      AWARD PROGRAM

    OF
      THE 2004 SYPRIS EQUITY PLAN (FOR [executive officer]
      PARTICIPANTS)

    

    1.  Purpose
      of the Program.
      The
      Company’s 2007 Special Incentive Executive Award Program (the “Program”) under
      the 2004 Sypris Equity Plan (“Plan”) shall be effective for all Awards
      incorporating these Terms, to advance the Company’s growth and prosperity by
      providing long-term financial incentives to its executives and certain other
      key
      employees, and to further the Company’s philosophy of equity ownership and
      incentives.

     

    2.  Restricted
      Shares.
      Each
“Restricted Share” is one Share
      of
      the Common Stock (subject to adjustments per the Plan) which is subject to
      forfeiture as provided herein. Unless otherwise determined by the Committee,
      grants of Restricted Shares will vest 100% on the fourth anniversary of its
      Grant Date (the “Vesting Date”), unless forfeited before such Vesting Date. All
      Restricted Shares will be held by the Company until their Vesting Dates, and
      physically distributed to the Participant thereafter, with any legends required
      by applicable Rules. Participants may vote and receive cash dividends on such
      Restricted Shares, as applicable, after the Grant Date.

     

    3.  Retirement
      or Disability.
      In the
      event of any retirement after age 65 or qualification to receive long-term
      disability benefits under the Company’s then current policies, such retirement
      or disability period shall be treated as a period of employment for purposes
      of
      the accrual of rights hereunder, including any vesting or exercise
      rights.

     

    4.  Leaves
      of Absence.
      The
      Committee may in its discretion treat all or any portion of any period during
      which a Participant is on military or other approved leave of absence as a
      period of employment for purposes of the accrual of rights
      hereunder.

     

    5.  Other
      Terminations.
      If
      employment is terminated other than for retirement, death or disability, each
      unvested Option or Restricted Share will be forfeited immediately and the
      Participant will have up to thirty (30) days in which to exercise any vested
      Options. In the event of death, all unvested Awards will be immediately vested,
      and the Participant’s representative or estate shall have one (1) year in which
      to exercise any Options.

     

    6.  Administration.
      The
      Committee shall have complete authority to administer or interpret the Program
      or any Award, to prescribe, amend and rescind rules and regulations relating
      thereto, and to make all other determinations necessary or advisable for the
      administration of the Program or any Award Agreements (including to establish
      or
      amend any rules regarding the Program that are necessary or advisable to comply
      with, or qualify under, any applicable law, listing requirement, regulation
      or
      policy of any entity, agency, organization, governmental entity, or the Company,
      in the Committee’s sole discretion (“Rule”)). In addition, with respect to any
      future grants or the unvested portion of any Awards, the Committee may amend
      or
      terminate these Terms or any Awards, in its sole discretion without the consent
      of any employee or beneficiary, subject to applicable Rules, at any time and
      from time-to-time. With respect to any amendment, action or approval hereunder,
      the Committee may require the approval of any other persons or entities,
      pursuant to applicable Rules. The decisions of the Committee in interpreting
      and
      applying the Program will be final.

     

    7.  Miscellaneous.
      Unless
      otherwise specified, all capitalized terms herein shall have the meanings
      assigned to them in the Plan or in the Award Agreement.

     

    7.1.  No
      Other Rights.
      The
      Awards include no other rights beyond those expressly provided in the Plan,
      the
      Program or the Award Agreement. Awards are non-assignable and non-transferable
      except by will or the laws of descent and distribution, unless otherwise
      approved by the Committee.

     

    7.2.  Taxes.
      The
      Participant must pay in cash, surrender Shares or Options of then-equivalent
      value, or otherwise arrange (to the Committee’s satisfaction) for all tax
      withholding obligations.

     

    7.3.  Delegation.
      The
      Committee may delegate any portion of their responsibilities and powers to
      one
      or more persons selected by them, subject to applicable Rules and revocation
      at
      any time. 

     

     

    -2-

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