Document:

exv4w1

EXHIBIT 4.1

AMENDMENT NO. 2

TO

RIGHTS AGREEMENT

     This Amendment No. 2 to Rights Agreement (this “Amendment”) is dated as of May 7,
2009, between PepsiAmericas, Inc., a Delaware corporation (the “Company”), and Wells Fargo
Bank, N.A. (the “Rights Agent”).

RECITALS

     A. On May 20, 1999, the Company, which was formerly known as Whitman Corporation, and First
Chicago Trust Company of New York, as rights agent, entered into a rights agreement (the “Rights
Agreement”) in order to set forth provisions relating to the dividend of one preferred share
purchase right (a “Right”) for each Common Share (as defined in the Rights Agreement) of the
Company outstanding on June 11, 1999. Unless otherwise defined herein, the capitalized terms in
this Amendment shall have the same meaning as set forth in the Rights Agreement.

     B. On August 18, 2000, the Rights Agreement was amended in connection with the merger between
PepsiAmericas, Inc. and Whitman Corporation.

     C. On September 9, 2002, the Rights Agent became the successor rights agent under the Rights
Agreement.

     D. Under Section 7(a)(i) of the Rights Agreement, the Rights expire on May 20, 2009 unless
action is taken by the Company to extend their expiration date.

     E. The Board of Directors of the Company (the “Board”) believes it is in the best interest of
the Company and its shareholders to amend the Rights Agreement to extend the Final Expiration Date
of the Rights to May 20, 2010; and, thus, the Board has approved this Amendment.

     F. It is the intent of the parties by this Amendment to extend the Final Expiration Date of
the Rights to May 20, 2010.

AMENDMENT

     In consideration of the premises and the mutual agreements herein set forth, the parties agree
as follows:

     1. Amendment to Rights Agreement. The Final Expiration Date as set forth in Section
7(a)(i) of the Rights Agreement shall be extended to May 20, 2010. Accordingly, Section 7(a) shall
be amended and restated to read as follows:

“(a) The registered holder of any Right Certificate may exercise the Rights
evidenced thereby (except as otherwise provided herein), in whole or in part, at any
time after the Distribution Date upon surrender of the Right Certificate, with the
form of election to purchase on the reverse side thereof duly executed, to the
Rights Agent at the principal office of the Rights Agent, together with payment of
the Purchase Price for each one one-hundredth of a Preferred Share as to which the
Rights are exercised, at or prior to the earliest of (i) the Close of Business on
May 20, 2010 (the “Final Expiration Date”), (ii) the time at which the Rights are
redeemed as provided in Section 23

 

 

hereof (the “Redemption Date”), or (iii) the time at which such Rights are exchanged
as provided in Section 24 hereof.”

     2. Governing Law. This Amendment shall be governed by, and construed in accordance
with, the laws of the State of Delaware.

     3. Counterparts. This Amendment may be executed in counterparts, each of which shall
be deemed an original and all of which shall constitute but one agreement. Facsimile and
electronically transmitted signatures shall have the same force and effect as original signatures.

     4. No Further Amendment. Except as specifically amended above, the terms and
provisions of the Rights Agreement, as amended, shall remain otherwise unchanged and in full force
and effect.

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

	 	 	 	 	 	 	 	 	 
	PepsiAmericas, Inc.	 	 	 	Wells Fargo Bank, N.A.
	 
	 	 	 	 	 	 	 	 
	By:

	 	/s/ Robert C. Pohlad
	 	 
	 	By:
	 	/s/ Barbara Novak
	 

	 	 
	 	 	 	 	 	 
	 

	 	Print Name: Robert C. Pohald

Print Title:   Chairman of the Board and Chief
Executive Officer
	 	 	 	 	 	Print Name: Barbara Novak

Print Title:   Vice PresidentEX-10.4(F)

Exhibit 10.4(f)

[FHN LOGO]

NOTICE OF GRANT

Performance Stock Units

[Name of recipient]

You have been granted Performance Stock Units (PSUs) of First Horizon National Corporation as
follows:

	 	 	 	 	 	 	 
	Date of Grant:

	 	March 5, 2009
	 	Governing Plan:
	 	2003 Equity Compensation Plan
	Number of PSUs Granted*:

	 	 	 	Performance Periods:
	 	2009, 2010, 2011, 2012
	Vesting Dates of PSUs*:	 	50% of shares on each of March 5, 2012 and 2013, in each case subject to
delay or forfeiture if performance goals are not met as provided in this
Notice

 

			
	*	 	Award is subject to size, vesting, & other limitations mandated in connection with the
Troubled Asset Relief Program, to the extent applicable. Those limitations may cause a
reduction or cancellation of this award, a lengthening of vesting periods, and other adverse
effects.

     Your PSU award recognizes your leadership and performance within the organization. This
PSU award is granted under the Governing Plan specified above, and is governed by the terms and
conditions of that Plan and by policies, practices, and procedures (“Procedures”) of the
Compensation Committee (that administers the Plan) that are in effect from time to time during the
performance and vesting periods.

     
PSUs are not shares of stock and are not transferable. Each PSU that vests will result in one
share of FHNC common stock being issued to you, subject to withholding for taxes. Subject to
provisions of the Governing Plan, the Committee may choose to pay all or a portion of vested PSUs
in cash, based on the fair market value of vested shares on the vesting date.

     
PSUs that have not been forfeited prior to the vesting date will be paid based on the extent
to which the performance goals set forth below are achieved. The performance goal for the PSUs will
be achieved if FHNC achieves diluted normalized-provision pre-tax earnings per share (NPEPS) of
$___ for at least one of the fiscal years 2009, 2010, 2011, or 2012; however, if the performance
goal is achieved only for the year 2012 then none of the PSUs shall vest prior to the fourth
anniversary of the grant date. The Committee will make appropriate adjustments of accounting
numbers so that results are comparable across periods and will make final determinations of
performance achievement, all as provided or permitted in Committee resolutions and the Governing
Plan. For each year NPEPS will be calculated by replacing actual provision expense with “normal”
provision, as determined by the Committee. Adjustments will be made in measuring NPEPS using the
specific factors approved by the Committee for determining 2009 annual cash bonus awards under
FHNC’s 2002 Management Incentive Plan. PSUs that do not vest as a result of a failure to achieve
performance goals as determined by the Committee automatically are forfeited.

     
This PSU award also is subject to possible reduction or forfeiture in advance of vesting in
accordance with the Governing Plan and the Committee’s Procedures. As of the date of grant, those
Procedures provide (among other things) that: (a) forfeiture generally will occur immediately upon
termination of employment — you must remain continuously employed by FHNC or one of its
subsidiaries through the close of business on the applicable vesting date; but (b) if your
termination of employment occurs because of your death, permanent disability, or normal or approved
retirement, the PSUs will be partially forfeited in proportion to the part of the performance
period (the four-year overall period) during which you are not employed, as determined by the
Committee. The reduced PSUs will vest or not vest based on achievement of performance goals over
the entire performance period. Normal retirement occurs if you retire under our pension plan at or
after age 65; early retirement does not qualify as ‘normal’ unless the Committee expressly approves
normal retirement treatment for this award.

     
Your PSUs will accrue cash dividend equivalents, to the extent cash dividends are paid on
common shares prior to vesting. From the grant date until the vesting date, dividend equivalents
accumulate (without interest) as if each PSU were an outstanding share. To the extent that PSUs
vest, the accumulated dividend equivalents associated with vested PSUs will be paid in cash at
vesting or in the next payroll cycle. Dividend equivalents associated with forfeited PSUs likewise
are forfeited. Stock splits and stock dividends will result in a proportionate adjustment to the
number of PSUs as provided in the Plan.

     
Vesting is a taxable event for you. Your withholding and other taxes will depend upon FHNC’s
stock value on the vesting date and the amount of dividend equivalents paid to you. As of the date
of grant, the Committee’s Procedures provide that FHNC will withhold shares and cash at vesting in
the amount necessary to cover your required withholding taxes; however, the Procedures may be
changed at any time. You are not permitted to make any election in accordance with Section 83(b) of
the Internal Revenue Code of 1986, as amended, to include in your gross income for federal income
tax purposes the value of the PSUs this year. If you make a Section 83(b) election, it will result
in the forfeiture of your PSUs. FHNC reserves the right to defer payment of PSUs if that payment
would result in a loss of tax deductibility.

Questions about your PSU grant?

     Important information concerning the Governing Plan and this PSU award is contained in a
prospectus. Copies of the current prospectus (including all applicable supplements) are delivered
separately, and you may request a copy of the Plan or prospectus at any time. If you have questions
about your PSU grant or need a copy of the Governing Plan, the related prospectus, or the
Committee’s current administrative procedures, contact Fidelity Investment’s Executive Relationship
Officer at 800-823-0217 x511. For all your personal stock incentive information, you may view your
award and other information on Fidelity’s website at www.NetBenefits.com.

[Managing Your Money logo]

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