Document:

Exhibit 4.4

 

THIRD SUPPLEMENTAL INDENTURE, dated December 27, 2012, by Fifth & Pacific Companies, Inc., a Delaware corporation (the “Company”), FNP Holdings, LLC (the “New Subsidiary Guarantor”), the other Guarantors listed on the signature pages hereto and U.S. Bank, National Association, as trustee (herein called the “Trustee”), to the Indenture, as supplemented, dated as of April 7,  2011, among the Company, the Guarantors named therein and the Trustee (the “Indenture”).

 

W I T N E S S E T H

 

WHEREAS, the Company has heretofore executed and delivered to the Trustee the Indenture, providing for the issuance of 10.50% Senior Secured Notes due 2019 (the “Notes”);

 

WHEREAS, the Company will cause the New Subsidiary Guarantor to execute and deliver to the Trustee a Guaranty Agreement pursuant to which the New Subsidiary Guarantor will Guarantee payment of the Notes on the same terms and conditions as those set forth in the Indenture; and

 

WHEREAS, pursuant to Section 9.06 of the Indenture the Trustee is authorized to execute and deliver this Second Supplemental Indenture.

 

NOW THEREFORE, in consideration of the foregoing and for good and valuable consideration, the receipt of which is hereby acknowledged, the Company, the New Subsidiary Guarantor, the other Guarantors and the Trustee mutually covenant and agree for the equal and ratable benefit of the Holders of the Notes as follows:

 

SECTION 1.  Capitalized Terms.  Capitalized terms used herein but not defined shall have the meanings assigned to them in the Indenture.  The New Subsidiary Guarantor is a Guarantor for purposes of the Indenture and a Subsidiary Guarantor for purposes of the Indenture as supplemented hereby.

 

SECTION 2.  Guarantee.  The New Subsidiary Guarantor (A) hereby, jointly and severally with the other Guarantors, unconditionally guarantees to each Holder of a Note authenticated and delivered by the Trustee and to the Trustee and its successors and assigns, irrespective of the validity and enforceability of this Indenture, the Notes, the other Notes Documents or the obligations of the Issuer hereunder or thereunder, that:

 

(1)           the principal of, premium and Additional Interest, if any, and interest on, the Notes will be promptly paid in full when due, whether at maturity, by acceleration, redemption or otherwise, and interest on the overdue principal of and interest on the Notes, if any, if lawful, and all other obligations of the Issuer to the Holders or the Trustee hereunder or thereunder will be promptly paid in full or performed, all in accordance with the terms hereof and thereof, and

 

 

(2)           in case of any extension of time of payment or renewal of any Notes or any of such other obligations, that same will be promptly paid in full when due or performed in accordance with the terms of the extension or renewal, whether at stated maturity, by acceleration or otherwise.

 

SECTION 3.  Successors and Assigns.  All agreements of the Company in this Third Supplemental Indenture and the Notes will bind its successors.  All agreements of the Trustee in this Second Supplemental Indenture will bind its successors.  All agreements of each Guarantor in this Third Supplemental Indenture will bind its successors, except as otherwise provided in Section 14.10 of the Indenture.

 

SECTION 4.  Modification.  No modification, amendment or waiver of any provision of this Third Supplemental Indenture, nor the consent to any departure by the New Subsidiary Guarantor therefrom, shall in any event be effective unless the same shall be in writing and signed by the Trustee, and then such waiver or consent shall be effective only in the specific instance and for the purpose for which given.  No notice to or demand on the New Subsidiary Guarantor in any case shall entitle the New Subsidiary Guarantor to any other or further notice or demand in the same, similar or other circumstances.

 

SECTION 5.  Releases.  The Note Guarantee of the New Subsidiary Guarantor, and the Collateral Agent’s Lien on the Collateral of such New Subsidiary Guarantor, will be released as provided in Section 10.05 of the Indenture.

 

SECTION 6.  Governing Law.  THIS THIRD SUPPLEMENTAL INDENTURE, THE NOTE, AND THE NOTE GUARANTEES AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER AND THEREUNDER SHALL BE GOVERNED BY AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO ITS CONFLICTS OF LAW PRINCIPLES INSOFAR AS SUCH PRINCIPLES WOULD DEFER TO THE SUBSTANTIVE LAWS OF SOME OTHER JURISDICTION.

 

SECTION 7.  No Personal Liability of Directors, Officers, Employees and Stockholders.  No past, present or future director, officer, employee, incorporator or stockholder of the Issuer or any Guarantor, as such, will have any liability for any obligations of the Issuer or the Guarantors under the Notes, this Indenture, the Note Guarantees, the Security Documents or for any claim based on, in respect of, or by reason of, such obligations or their creation.  Each Holder of Notes by accepting a Note waives and releases all such liability.  The waiver and release are part of the consideration for issuance of the Notes.  The waiver may not be effective to waive liabilities under the federal securities laws.

 

SECTION 8.  Multiple Originals.  The parties may sign any number of copies of this Third Supplemental Indenture.  Each signed copy will be an original, but all of them together represent the same agreement.

 

SECTION 9.  Headings.  The headings of the Sections of this Third Supplemental Indenture have been inserted for convenience of reference only, are not to be 

 

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considered a part of this Third Supplemental Indenture and will in no way modify or restrict any of the terms or provisions hereof.

 

[Remainder of this Page Intentionally Left Blank]

 

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IN WITNESS WHEREOF, the parties have caused this Third Supplemental Indenture to be duly executed as of the date first written above.

 

	
 
    	
FIFTH   & PACIFIC COMPANIES, INC., a Delaware corporation
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
Authorized Signatory
    
	
 
    	
 
    	
Name:
    	
 
    
	
 
    	
 
    	
Title
    	
Authorized Person
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
U.S.   BANK, NATIONAL ASSOCIATION,
    
	
 
    	
as   Trustee
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
Authorized Signatory
    
	
 
    	
 
    	
Name:
    	
 
    
	
 
    	
 
    	
Title
    	
Authorized Person
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
FNP   HOLDINGS, LLC
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
Authorized Signatory
    
	
 
    	
 
    	
Name:
    	
 
    
	
 
    	
 
    	
Title
    	
Authorized Person
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
BOODLE,   INC.
    
	
 
    	
HAVANA   L.L.C.
    
	
 
    	
JERG,   INC.
    
	
 
    	
JUICY   COUTURE, INC.
    
	
 
    	
KATE   SPADE LLC
    
	
 
    	
L.C.   AUGUSTA, INC.
    
	
 
    	
L.C.   CARIBBEAN HOLDINGS, INC.
    
	
 
    	
LC   LIBRA, LLC
    
	
 
    	
L.C.   LICENSING, LLC
    
	
 
    	
L.C.   SERVICE COMPANY, INC.
    
	
 
    	
L.C.   SPECIAL MARKETS, INC.
    
	
 
    	
LCCI   HOLDINGS LLC
    

 

(Signature Page to Third Supplemental Indenture)

 

 

	
 
    	
KATE SPADE PUERTO RICO, INC.
    
	
 
    	
LCI HOLDINGS, INC.
    
	
 
    	
LCI INVESTMENTS, INC.
    
	
 
    	
ADELINGTON DESIGN GROUP, INC.
    
	
 
    	
ADELINGTON DESIGN SALES GROUP, INC.
    
	
 
    	
FIFTH & PACIFIC COMPANIES COSMETICS, INC.
    
	
 
    	
FIFTH & PACIFIC COMPANIES FOREIGN HOLDINGS,   INC.
    
	
 
    	
FIFTH & PACIFIC COMPANIES PUERTO RICO, INC.
    
	
 
    	
FIFTH & PACIFIC COMPANIES SALES, INC.
    
	
 
    	
LUCKY BRAND DUNGAREES, INC.
    
	
 
    	
LUCKY BRAND DUNGAREES STORES, INC.
    
	
 
    	
ADELINGTON INTERNATIONAL, INC.
    
	
 
    	
ADELINGTON PUERTO RICO, INC.
    
	
 
    	
NONEE I HOLDING LLC
    
	
 
    	
NONEE I, L.L.C.
    
	
 
    	
SEGRETS, INC.
    
	
 
    	
SKYLARK SPORT MARKETING CORPORATION
    
	
 
    	
WCFL HOLDINGS LLC
    
	
 
    	
WESTCOAST CONTEMPO PROMENADE, INC.
    
	
 
    	
WESTCOAST CONTEMPO RETAIL, INC.
    
	
 
    	
WESTCOAST CONTEMPO (U.S.A.) INC.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
Authorized   Signatory
    
	
 
    	
 
    	
Name:
    	
 
    
	
 
    	
 
    	
Title:
    	
Authorized   Person
    

 

(Signature Page to Third Supplemental Indenture)Exhibit 10.46

 

Fifth & Pacific Companies, Inc.

 

Stock Option Grant Confirmation

 

	
Associate   Name:
    	
<<Employee Name>>
    
	
 
    	
 
    
	
Associate   Empl ID#:
    	
<<Employee ID>>
    
	
 
    	
 
    
	
Stock   Incentive Plan:
    	
<<Stock Plan>>
    
	
 
    
	
Grant   Date:
    	
<<Grant   Date>>
    
	
 
    	
 
    
	
Number   of Shares:
    	
<<Shares   Granted>>
    
	
 
    	
 
    
	
Exercise   Price:
    	
U.S.   <<Grant Price>>
    
	
 
    	
 
    
	
Vesting   Schedule:
    	
25%   on first anniversary of grant

25%   on second anniversary of grant

50% on   third anniversary of grant
    
			

 

WHILE EVERY EFFORT HAS BEEN MADE TO ENSURE THE ACCURACY OF THIS INFORMATION, THESE FIGURES ARE SUBJECT TO FINAL AUDIT.

 

THE GRANT OF AN OPTION SHALL NOT CONFER ON THE RECIPIENT ANY RIGHT TO CONTINUE IN THE EMPLOY OR OTHER SERVICE OF THE COMPANY, OR AFFECT ANY RIGHT WHICH THE COMPANY MAY HAVE TO TERMINATE SUCH EMPLOYMENT OR SERVICE.

 

 

Stock Option Grant Certificate — Terms and Conditions

 

1.  Option Grant — Pursuant to the stock incentive plan (the “Plan”) specified on the attached grant confirmation statement (the “Statement”), Fifth & Pacific Companies, Inc. (the “Company”) hereby grants to the person named on the Statement (the “Optionee”) a nonqualified stock option (the “Option”), effective as of the applicable grant dates set forth on the Statement, to purchase the number of shares of common stock of the Company at the purchase prices specified on, the Statement, conditioned on the Optionee’s continued employment with the Company on each such grant date. It is intended that the Option shall not qualify as an “incentive stock option” as defined in section 422 of the Internal Revenue Code of 1986, as amended.

 

2.  Exercisability — Subject to the further terms included herein, the Option shall become exercisable on the dates indicated on the Statement, provided in each case that the Optionee is then and has at all times since the grant date remained an employee or otherwise in the service of the Company. Unless earlier terminated pursuant to the provisions of the Plan, the unexercised portion of the Option shall expire and cease to be on the seventh anniversary of the respective grant date of the Option. The Option may be partially exercised from time to time up to the amount of shares exercisable at such time as set forth above.

 

3.  Exercising Options — Subject to the terms and conditions of the Plan, the Optionee may exercise Options by giving notice of exercise to the Company accompanied by payment of the aggregate Option exercise price for the shares being purchased together with any amount which the Company or its subsidiaries may be required to withhold upon such exercise in respect of applicable foreign, federal, state and local taxes, all in such manner as specified from time to time by the Company. Each such exercise notice shall specify the number of shares of Company common stock to be purchased, the Option exercise price, the grant date, and such other matters as may be required by the Company or the Company’s Compensation Committee (the “Committee”). Payment shall be made by certified or official bank check, or, at the discretion of the Committee and to the extent permitted by law, by such other means as the Committee may from time to time permit.

 

4.  Termination of Employment

 

4.1 If the Optionee’s employment terminates for any reason other than retirement, disability, death, dismissal for cause or resignation without the Company’s prior consent, the Optionee may exercise the Option — to the extent it was granted and exercisable at the time of such termination — until the earlier of the seventh anniversary of the grant date of the Option (pursuant to Section 2 above), and the expiration three months following the termination of employment.

 

4.2 If the Optionee’s employment terminates due to the Optionee’s retirement, the Optionee may exercise the Option — to the extent it was exercisable at the time of such termination — until the earlier of the seventh anniversary of the grant date of the Option (pursuant to Section 2 above), and the third anniversary of the Optionee’s Retirement. “Retirement” shall mean the Optionee’s ceasing to be employed by the Company and any of its affiliates (other than a termination for cause or a resignation without the Company’s prior consent) on or after Optionee’s 65th birthday, on or after the date on which Optionee has attained age 60 and completed at least six years of vesting service (as defined in and determined under the Liz Claiborne Savings and Profit Sharing Plan, as the same has been and may from time to time be amended) or, if approved by the Committee, on or after the date Optionee has completed at least 20 years of vesting service.

 

4.3 If the Optionee’s employment is terminated due to the Optionee’s disability (as defined in the Plan), the Optionee may exercise the Option — to the extent it was exercisable at the time of such termination — until the earlier of the seventh anniversary of the grant date of the Option (pursuant to Section 2 above), and the first anniversary of the date of the Optionee’s termination of employment.

 

4.4 If the Optionee dies while employed by the Company or after employment terminates but during a period in which the option is exercisable pursuant to Section 4.1, 4.2 or 4.3 above, the Optionee’s beneficiaries may exercise the Option — to the extent it was exercisable at the time of such termination — until the earlier of the seventh anniversary of the grant date of the Option (pursuant to Section 2 above), and the first anniversary of the Optionee’s death.

 

4.5 If the Company terminates Optionee’s employment for cause or the Optionee resigns without the Company’s prior consent, the Option shall terminate upon the commencement of business on the date of the Optionee’s termination of employment.

 

5. Change in Control — If the Optionee’s employment terminates for any reason other than cause, disability or resignation without good reason, concurrent with or within one year following a Change in Control (as defined in the Plan), the Option shall become fully vested and the Optionee may exercise the Option until the earlier of the seventh anniversary of the grant date of the Option (pursuant to Section 2 above), and the first anniversary of the date of the Optionee’s termination, unless the provisions of Section 4.2 above would result in a longer period, in which case the Optionee may exercise the Option during that longer period.

 

6.  Plan Provisions to Prevail — The Option is subject to all of the terms and provisions of the Plan. Without limiting the generality of the foregoing, by accepting the grant of the Option the Optionee agrees that no member of the Committee shall be liable for any action or determination made in good faith with respect to the Option, the Plan or any other award under the Plan. In the event that there is any inconsistency between the provisions of this Certificate and the Plan, the provisions of the Plan shall govern.

 

7.  Notices — Any notice to be given to the Company hereunder shall be in writing and shall be addressed to the Chief Financial Officer, Fifth & Pacific Companies, Inc., 5901 West Side Avenue, North Bergen, NJ 07047, or at such other address as the Company may hereafter designate to the Optionee by notice as provided in this Section 6. Any notice to be given to the Optionee hereunder shall be addressed to the Optionee’s home address of record, or at such other address as the Optionee may hereafter designate to the Company by notice as provided herein. A notice shall be deemed to have been duly given when personally delivered or mailed by registered or certified mail to the party entitled to receive it.

 

8.  Right of Discharge Preserved — The grant of the Option and the terms set forth in this Certificate shall not confer upon the Optionee the right to continue in the employ or other service of the Company, nor shall it affect any right that the Company may have to terminate such employment or service.

 

9.  Transferability/Exercise After Death — The Option is not assignable or transferable otherwise than by will or by the laws of descent and distribution. The Option may be exercised only by the Optionee or the Optionee’s legal representative or, after the Optionee’s death, by the Optionee’s executor or administrator or other duly appointed representative reasonably acceptable to the Committee, unless the Participant’s will specifically disposes of the Option, in which case the Option may be exercised only by the recipient of such specific disposition. Any such individual or entity that exercises the Option after the Optionee’s death shall be bound by all the terms and conditions of the Plan and this Certificate.

 

10.  Entire Agreement — This Certificate and the Plan contain all of the terms of the Option and supersede all prior agreements and understandings between the Company and the Optionee with respect to the Option.

 

11.  Successors and Assigns — The terms of this Certificate shall be binding upon and inure to the benefit of the Company and the Optionee and the successors and assigns of the Company and, to the extent consistent with Section 4.4 above and with the Plan, the heirs and personal representatives of the Optionee.

 

12.  Governing Law — The Option and this Certificate shall be interpreted, construed and administered in accordance with the laws of the State of Delaware.

 

13.  Receipt of Prospectus — By accepting delivery of this Certificate, the Optionee acknowledges that he or she has received a copy of the Prospectus relating to the options and the shares of Company common stock covered thereby under the Plan.

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