Document:

exv4w1

 

	CUSIP 28257U 10 4

 

 

	EINSTEIN NOAH RESTAURANT GROUP, INC. TRANSFER FEE $25.00 The following abbreviations,
when used in the inscription on the face of this certificate, shall be construed as though they
were written out in full according to applicable laws or regulations: TEN COM -as
tenants in common UNIF GIFT MIN ACT- Custodian (Cust) (Minor) TEN ENT — as
tenants by the entireties under Uniform Gifts to Minors Act (State) JTTEN -as
joint tenants with right of survivorship            UNIF TRF MIN ACT Custodian (until age.. .)
and not as tenants in common (Cust) (Minor) under Uniform Transfers to Minors Act
(State) Additional abbreviations may also be used though not in the above list.
THE COMPANY WILL FURNISH WITHOUT CHARGE TO EACH SHAREHOLDER WHO SO REQUESTS, A SUMMARY OF THE
POWERS, DESIGNATIONS, PREFERENCES AND RELATIVE, PARTICIPATING, OPTIONAL OR OTHER SPECIAL RIGHTS OF
EACH CLASS OF STOCK OF THE COMPANY AND THE QUALIFICATIONS, LIMITATIONS OR RESTRICTIONS OF SUCH
PREFERENCES AND RIGHTS, AND THE VARIATIONS IN RIGHTS, PREFERENCES AND LIMITATIONS DETERMINED FOR
EACH SERIES, WHICH ARE FIXED BY THE ARTICLES OF INCORPORATION OF THE COMPANY, AS AMENDED, AND THE
RESOLUTIONS OF THE BOARD OF DIRECTORS OF THE COMPANY, AND THE AUTHORITY OF THE BOARD OF DIRECTORS
TO DETERMINE VARIATIONS FOR FUTURE SERIES. SUCH REQUEST MAY BE MADE TO THE OFFICE OF THE SECRETARY
OF THE COMPANY OR TO THE TRANSFER AGENT THE BOARD OF DIRECTORS MAY REQUIRE THE OWNER OF A LOST OR
DESTROYED STOCK CERTIFICATE, OR HIS LEGAL REPRESENTATIVES. TO GIVE THE COMPANY A BOND TO INDEMNIFY
IT AND ITS TRANSFER AGENTS AND REGISTRARS AGAINST ANY CLAIM THAT MAY BE MADE AGAINST THEM ON
ACCOUNT OF THE ALLEGED LOSS OR DESTRUCTION OF ANY SUCH CERTIFICATE. PLEASE INSERT- SOCIAL
SECURITY OR OTHER IDENTIFYINGNUMBER OF ASSIGNEE            For value received.
.hereby sell, assign and transfer unto (PLEASE PRINT OR TYPEWRITE NAME AMD
ADDRESS, INCLUDING POSTAL ZIP CODE. OF ASSIGNEE) of the common stock represented by
the within Certificate, and do hereby irrevocably constitute and appoint            to transfer the
said stock on the books of the within-named Corporation with full power of substitution in the
premises.
Shares Attorney            Dated:
20

	Signature(s) Guaranteed: Medallion Guarantee Stamp            THE SIGNATURE(S) SHOULD BE
GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (Banks, Stockbrokers. Savings and Loan
Associations and Credit Unions) WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION
PROGRAM. PURSUANT TO SEC. RULE 17Ad-15. Signature:
Signature:

	Notice: The signature to this assignment must correspond with the name as written upon the face
of the certificate, in every particular, without alteration or enlargement, or any change
whatever. ~S.CONT ~S.CONT SECURITY INSTRUCTIONS            THIS IS WATERMARKED PAPER, DO
NOT ACCEPT WITHOUT NOTING WATERMARK. HOLD TO LIGHT TO VERIFY WATERMARK.exv4w3

 

SECOND AMENDMENT TO FIRST AMENDED AND RESTATED

RIGHTS AGREEMENT

     THIS SECOND AMENDMENT TO FIRST AMENDED AND RESTATED RIGHTS AGREEMENT (this
“Amendment”), dated as of May 18, 2007, is between ARKANSAS BEST CORPORATION, a Delaware
corporation (the “Company”), and LASALLE BANK, NATIONAL ASSOCIATION (the “Rights
Agent”), at the direction of the Company.

     WHEREAS, the Company and Computershare Investor Services, LLC, the predecessor Rights Agent,
entered into a First Amended and Restated Rights Agreement dated as of May 1, 2001 (as amended, the
“Rights Agreement”);

     WHEREAS, Section 26 of the Rights Agreement permits the amendment of the Rights Agreement by
the Board of Directors of the Company;

     WHEREAS, pursuant to a resolution duly adopted on May 17, 2007, the Board of Directors of the
Company has duly adopted and authorized the amendment of the Rights Agreement to amend the
definition of “Acquiring Person” to permit Royce & Associates, LLC to beneficially own up to
17.999% of the Common Shares (as defined in the Rights Agreement); and

     WHEREAS, the Board of Directors of the Company resolved and determined that such amendment is
in the best interest of the Company and consistent with, and for the purpose of fulfilling, the
objectives of the Board of Directors in connection with the original adoption of the Rights
Agreement;

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

     1. AMENDMENT OF SECTION 1(a). Section 1(a) of the Rights Agreement is hereby amended in its
entirety to read as follows:

     (a) “Acquiring Person” means any Person that, together with all Affiliates and
Associates of such Person, shall be the Beneficial Owner of 15% or more of the
Common Shares then outstanding; provided, however, that Royce &
Associates, LLC (“Royce”) shall not be deemed to be an Acquiring Person until such
time as Royce, together with all of its Affiliates and Associates, is the Beneficial
Owner of 18% or more of the Common Shares then outstanding. The term “Acquiring
Person” shall not include the Company, any Subsidiary of the Company or any Person
who acquires beneficial ownership of the Common Shares in a Permitted Transaction,
any employee benefit plan of the Company or any Subsidiary of the Company or any
Person holding Common Shares for or pursuant to the terms of any such plan.
Notwithstanding the foregoing, from and after January 22, 2003 no Person shall
become an “Acquiring Person” as the result of an acquisition of Common Shares by the
Company which, by reducing the number of shares outstanding, increases the
proportionate number of shares beneficially owned by such Person to 15% or more, or
18% or more in the case of Royce, of the Common Shares of the Company then
outstanding; provided, however, that, if a Person shall become the Beneficial Owner
of 15% or more, or

 

18% or more in the case of Royce, of the Common Shares of the Company then
outstanding by reason of share purchases by the Company and shall, after such share
purchases by the Company and at a time when such Person is the Beneficial Owner of
15% or more, or 18% or more in the case of Royce, of the Common Shares of the
Company then outstanding (as such number has most recently been disclosed by the
Company in any filing with the Securities and Exchange Commission or other widely
disseminated public disclosure) become the Beneficial Owner of any additional Common
Shares of the Company, then such Person shall be deemed to be an “Acquiring Person.”
Notwithstanding the foregoing, if, upon Board Approval, the Company determines in
good faith that a Person who would otherwise be an “Acquiring Person,” as defined
pursuant to the foregoing provisions of this paragraph has become such
inadvertently, and such Person divests as promptly as practicable (as determined by
the Board of Directors of the Company in its sole discretion) a sufficient number of
Common Shares so that such Person would no longer be an Acquiring Person, as defined
pursuant to the foregoing provisions of this paragraph, then such Person shall not
be deemed to be an “Acquiring Person” for any purposes of this Agreement. For the
avoidance of doubt, as of May 18, 2007, no Stock Acquisition Date has occurred with
respect to Royce and Royce is not an Acquiring Person.

     2. AMENDMENT OF EXHIBIT B. Exhibit B of the Rights Agreement is hereby amended in its
entirety to read as follows:

SUMMARY OF RIGHTS TO PURCHASE SHARES OF

ARKANSAS BEST CORPORATION COMMON STOCK

     The Board of Directors of Arkansas Best Corporation (the “Company”) issued one
common share purchase right (a “Right”) for each outstanding share of common stock,
par value $0.01 per share (the “Common Shares”), of the Company issued and
outstanding on the closing date of the Company’s initial public offering (the
“Record Date”). Each Right entitles the registered holder to purchase from the
Company one Common Share at a price of $80.00 (the “Purchase Price”), subject to
adjustment.

     The Rights were issued pursuant to the Rights Agreement, dated as of April 23,
1992 (the “Original Rights Agreement”), by and between the Company and Harris Trust
and Savings Bank. The Original Rights Agreement was amended on May 27, 1999 by an
Amendment to Rights Agreement and was amended and restated by the First Amended and
Restated Rights Agreement, dated May 1, 2001 (the “Restated Rights Agreement”), by
and between the Company and Computershare Investor Services, LLC, a Delaware limited
liability company, as successor Rights Agent. The Restated Rights Agreement amended
the Original Rights Agreement (as previously amended) to, among other things, extend
the term of the Rights Agreement to April 30, 2011 and increase the Purchase Price
to $80.00 per Common Share. The Restated Rights Agreement was amended on April 4,
2003 by an Amendment to First Amended and Restated Rights Agreement (the “First
Amendment to Restated Rights Agreement”) and

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was amended again on May 18, 2007 by a Second Amendment to First Amended and
Restated Rights Agreement (the “Second Amendment to Restated Rights Agreement”).
The First Amendment to Restated Rights Agreement amended the definition of
“Acquiring Person.” The Second Amendment to Restated Rights Agreement amended the
definition of “Acquiring Person” and the summary of rights attached as Exhibit B to
the Restated Rights Agreement. On August 1, 2001, LaSalle Bank, National
Association, replaced Computershare Investors Services, LLC, as Rights Agent.

     The Original Rights Agreement, the Restated Rights Agreement, the First
Amendment to Restated Rights Agreement and the Second Amendment to Restated Rights
Agreement are sometimes referred to collectively as the “Rights Agreement.”

     The description and terms of the Rights are set forth in the Restated Rights
Agreement, the First Amendment to Restated Rights Agreement and the Second Amendment
to Restated Rights Agreement.

     Until the earlier to occur of (i) the close of business on the tenth
(10th) day following a public announcement that a person or group of
affiliated or associated persons has acquired, or obtained the right to acquire,
beneficial ownership of 15% or more, or 18% or more in the case of Royce &
Associates, LLC (“Royce”), of the outstanding Common Shares (an “Acquiring Person”),
except that the term “Acquiring Person” shall not include the Company, any
subsidiary of the Company, any employee benefit plan of the Company, any such
subsidiary or any person who acquires beneficial ownership of the Common Shares in a
Permitted Transaction (as such term is described below) or, from and after January
22, 2003, any person that becomes the beneficial owner of 15% or more, or 18% or
more in the case of Royce, of the Common Shares of the Company as a result of an
acquisition of Common Shares by the Company which, by reducing the number of shares
outstanding, increases the proportionate number of shares beneficially owned by such
person to 15% or more, or 18% or more in the case of Royce, of the Common Shares of
the Company, (ii) the close of business on the fifteenth (15th) business
day (or such later date as may be determined by action of the Board of Directors
prior to any person becoming an Acquiring Person) following the commencement of, or
public announcement of an intention to commence, a tender offer or exchange offer,
the consummation of which would result in the beneficial ownership by a person or
group of affiliated or associated persons of 19.9% or more of the outstanding Common
Shares or (iii) the close of business on the tenth (10th) day after the
Board of Directors determines that any person (other than Robert A. Young, III) or
group of persons (an “Adverse Person”) has acquired beneficial ownership of a
substantial amount of Common Shares (but not less than 10% of the outstanding Common
Shares) and that (a) such Adverse Person intends to cause the Company to repurchase
such Common Stock or to exert pressure against the Company to take any actions or
enter into any transactions to provide such Adverse Person with short-term gains or
profits under circumstances in which the Board of Directors determines that the
long-

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term interests of the Company and its stockholders would not be served by
taking such actions or entering into such transactions or (b) beneficial ownership
by such Adverse Person is reasonably likely to have a material adverse effect on the
business, competitive position, prospects or financial condition of the Company and
its subsidiaries (the earlier of such dates being the “Distribution Date”), the
Rights associated with Common Shares represented by certificates outstanding on the
Record Date will be evidenced by such certificates with a copy of the Summary of
Rights from the Original Rights Agreement attached to the certificate.

     The Rights Agreement provides that, until the Distribution Date, the Rights
will be transferred with and only with the Common Shares to which they are
associated. Until the Distribution Date (or earlier redemption or expiration of the
Rights), the Rights associated with Common Shares represented by certificates issued
after the Record Date (whether upon transfer or new issuance of Common Shares) will
contain a notation incorporating the Rights Agreement by reference. Until the
Distribution Date (or earlier redemption or expiration of the Rights), the surrender
for transfer of any certificate for Common Shares outstanding will constitute the
transfer of the Rights associated with the Common Shares represented by such
certificate. As soon as practicable following the Distribution Date, separate
certificates evidencing the Rights (the “Right Certificates”) will be mailed to
holders of record of the Common Shares as of the close of business on the
Distribution Date and such separate Right Certificates alone will evidence the
Rights.

     The Rights are not exercisable until the Distribution Date. The Rights will
expire on April 30, 2011 (the “Final Expiration Date”), unless the Final Expiration
Date is extended or unless the Rights are earlier redeemed by the Company, in each
case, as described below.

     The Purchase Price payable and the number of Common Shares or other securities
or property issuable upon exercise of the Rights are subject to adjustment from time
to time to prevent dilution (i) in the event of a stock dividend on, or a
subdivision, combination or reclassification of, the Common Shares, (ii) upon the
grant to holders of the Common Shares of certain rights or warrants to subscribe for
or purchase Common Shares at a price or securities convertible into Common Shares
with a conversion price less than the then current market price of the Common
Shares, or (iii) upon the distribution to holders of the Common Shares of evidences
of indebtedness or assets or of subscription rights or warrants (other than those
referred to above).

     In the event that (i) the Company is the surviving corporation in a merger with
an Acquiring Person or Adverse Person and the Common Shares are not changed or
exchanged, (ii) an Acquiring Person or Adverse Person engages in certain
self-dealing transactions with the Company, (iii) any person becomes the beneficial
owner of 19.9% or more of the outstanding Common Shares (unless the event in which
such person acquired 19.9% or more of the outstanding Common

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Shares is a Permitted Transaction), (iv) the Company engages in a
reclassification or recapitalization that results in an increase of more than 1% of
an Acquiring Person’s or Adverse Person’s percentage ownership of the Company or (v)
the Board of Directors declares any person to be an Adverse Person, the proper
provision will be made so that each holder of a Right, other than Rights
beneficially owned by an Acquiring Person or an Adverse Person (which will then be
void), will have the right to receive upon exercise that number of Common Shares
having a market value of two times the applicable exercise price of the Right.

     For the purposes of the Rights Agreement, a Permitted Transaction is a stock
acquisition or tender or exchange offer pursuant to a definitive agreement which
would result in a person beneficially owning 50% or more of the Common Shares and
which was approved by the Board of Directors prior to the execution of the agreement
or the public announcement of the offer.

     In the event that the Company is acquired in a merger or other business
combination transaction (other than with a subsidiary of the Company), or 50% or
more of its consolidated assets or earning power are sold, unless such event is a
Permitted Transaction, proper provisions will be made so that each holder of a Right
will have the right to receive, upon the exercise of the Right at the then
applicable exercise price, that number of shares of common stock of the acquiring
company that at the time of such transaction will have a market value of two times
the applicable exercise price of the Right.

     With certain exceptions, no adjustment in the Purchase Price will be required
until cumulative adjustments require an adjustment of at least l% in such Purchase
Price. No fractional Common Shares will be issued and in lieu of such fractional
shares, an adjustment in cash will be made based on the market price of the Common
Shares on the last trading day prior to the date of exercise.

     At any time prior to the close of business on the tenth (10th) day
following the public announcement that a person has become an Acquiring Person, the
Board of Directors of the Company may redeem the Rights in whole, but not in part,
at a price of $0.01 per Right (the “Redemption Price”). In addition, the Board of
Directors may extend or reduce the period during which the Rights are redeemable, so
long as the Rights are redeemable at the time of such extension or reduction.
Immediately upon any redemption of the Rights, the right to exercise the Rights will
terminate and the only right of the holders of Rights will be to receive the
Redemption Price.

     The terms of the Rights may be amended by the Board of Directors of the Company
without the consent of the holders of the Rights, including an amendment to extend
the Final Expiration Date, except that from and after the Distribution Date no such
amendment may adversely affect the economic interests of the holders of the Rights.

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     Until a Right is exercised, the holder of the Right, as such, will have no
rights as a stockholder of the Company, including, without limitation, the right to
vote or to receive dividends.

     3. EFFECTIVENESS.

          This Amendment to the Rights Agreement shall be effective as of the date of this Amendment,
and all references to the Rights Agreement shall, from and after such time, be deemed to be
references to the Rights Agreement as amended hereby.

     4. CERTIFICATION.

          The undersigned officer of the Company certifies by execution hereof that this Amendment is in
compliance with the terms of Section 26 of the Rights Agreement.

     5. MISCELLANEOUS.

          (a) This Amendment may be executed in any number of counterparts, each of such counterparts
shall for all purposes be deemed to be an original, and all such counterparts shall together
constitute but one and the same instrument.

          (b) If any term, provision, covenant or restriction of this Amendment is held by a court of
competent jurisdiction or other authority to be invalid, illegal, 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.

[SIGNATURE PAGE FOLLOWS]

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

	 	 	 	 	 
	 	ARKANSAS BEST CORPORATION

 	 
	 	By:  	/s/ Robert A. Davidson
 	 
	 	 	Name:  	Robert A. Davidson 	 
	 	 	Title:  	President and Chief Executive Officer 	 
	 
	 	LASALLE BANK, NATIONAL ASSOCIATION

 	 
	 	By:  	/s/ Mark F. Rimkus
 	 
	 	 	Name:  	Mark F. Rimkus 	 
	 	 	Title:  	Vice President 	 
	 

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