Document:

EX-4.1 FIRST AMENDMENT TO PROTECTION RIGHTS AGRMT.

 

Exhibit 4.1

EXECUTION COPY

FIRST AMENDMENT TO SHAREHOLDER PROTECTION RIGHTS AGREEMENT

     THIS FIRST AMENDMENT TO SHAREHOLDER PROTECTION RIGHTS AGREEMENT (“Amendment”), dated
as of the 16th day of August, 2007, by and between RARE HOSPITALITY INTERNATIONAL, INC., a Georgia
corporation (the “Company”), and COMPUTERSHARE TRUST COMPANY, N.A. as successor to SunTrust
Bank, Atlanta (the “Rights Agent”), constitutes the First Amendment to the Shareholder
Protection Rights Agreement, dated as of November 4, 1997, by and between the Company and SunTrust
Bank, Atlanta (the “Rights Agreement”). Capitalized terms used herein and not otherwise
defined shall have the respective meanings ascribed to such terms in the Rights Agreement.

     WHEREAS, the Company, Surf & Turf Merger Corp., a Georgia corporation, and a wholly-owned
subsidiary of Parent (as defined herein) (“Merger Sub”) and Darden Restaurants, Inc., a
Florida corporation (“Parent”) have proposed to enter into an Agreement and Plan of Merger
to be dated as of the date hereof (the “Merger Agreement”);

     WHEREAS, the Company desires to amend the Rights Agreement to render it inapplicable to the
purchase by Merger Sub of shares of Common Stock pursuant to the Offer, (as defined in the Merger
Agreement), the Merger (as defined in the Merger Agreement) and the other transactions contemplated
by the Merger Agreement;

     WHEREAS, the Company deems the Amendment to be necessary and desirable and in the best
interests of the holders of the Rights and has duly approved this Amendment;

     WHEREAS, no Flip-In Date has occurred; and

     WHEREAS, Section 5.4 of the Rights Agreement permits the Company and the Rights Agent, at any
time prior to the close of business on the Flip-In Date, to amend the Rights Agreement in any
respect without the approval of the holders of Rights.

     NOW, THEREFORE, in consideration of the premises and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto do
hereby agree as follows:

     1. The Rights Agreement is hereby amended by:

          (a) Adding the following sentence at the end of the definition of “Acquiring Person” in
Section 1.1 of the Rights Agreement:

“Notwithstanding any of the terms of the foregoing definition, neither Darden Restaurants,
Inc., a Florida corporation (“Parent”), nor Surf & Turf Merger Corp., a Georgia corporation
and a wholly-owned subsidiary of Parent (“Merger Sub”), nor any Affiliate or Associate of
Parent or Merger Sub, shall be or become an “Acquiring Person” as a result of (i) the
execution, delivery, or performance of the Agreement and Plan of Merger (as may be amended
from time to time, the “Merger Agreement”), dated as of August 16, 2007, by and among
Parent, Merger Sub, and the Company, (ii) the public

 

 

announcement (A) of such execution, delivery or performance of the Merger Agreement, or (B)
of the commencement of the Offer (as defined in the Merger Agreement), or (C) of the Merger
(as defined in the Merger Agreement), or (D) of the other transactions contemplated by the
Merger Agreement or (iii) the consummation of the Offer or the Merger or of the other
transactions contemplated by the Merger Agreement.”

          (b) Deleting the definition of “Expiration Time” in Section 1.1 of the Rights Agreement in its
entirety, and inserting the following:

“Expiration Time” shall mean the earliest of (i) the Exchange Time, (ii) the Redemption
Time, (iii) the close of business on May 31, 2008, (iv) the time of a merger of the Company
into another corporation pursuant to an agreement entered into prior to a Flip-In Date, and
(v) the time immediately prior to the Appointment Time (as defined in the Merger
Agreement).”

          (c) Adding the following sentence at the end of the definition of “Separation Time” in Section
1.1 of the Rights Agreement:

“Notwithstanding any of the terms of the foregoing definition, no “Separation Time” will
occur as a result of (i) the execution, delivery or performance of the Merger Agreement,
(ii) the public announcement (A) of such execution, delivery or performance of the Merger
Agreement, or (B) of the commencement of the Offer (as defined in the Merger Agreement), or
(C) of the Merger (as defined in the Merger Agreement), or (D) of the other transactions
contemplated by the Merger Agreement or (iii) the consummation of the Offer or the Merger or
of the other transactions contemplated by the Merger Agreement.”

          (d) Adding the following sentence at the end of the definition of “Stock Acquisition Date” in
Section 1.1 of the Rights Agreement:

“Notwithstanding any of the terms of the foregoing definition, no “Stock Acquisition Date”
will occur as a result of (i) the execution, delivery or performance of the Merger
Agreement, (ii) the public announcement (A) of such execution, delivery or performance of
the Merger Agreement, or (B) of the commencement of the Offer (as defined in the Merger
Agreement), or (C) of the Merger (as defined in the Merger Agreement), or (D) of the other
transactions contemplated by the Merger Agreement or (iii) the consummation of the Offer or
the Merger or of the other transactions contemplated by the Merger Agreement.”

          (e) Adding the following sentence after the second sentence of
Section 4.4 of
the Rights Agreement:

“In the event the transfer agency relationship in effect between the Company and the
Rights Agent terminates, the Rights Agent will be deemed to resign automatically on the
effective date of such termination; and any required notice will be sent by the Company.”

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          (f) Deleting the Rights Agent notice information in Section 5.9 of
the Rights
Agreement in its entirety and inserting the following:

Computershare Trust Company, N.A.

250 Royall Street

Canton, MA 02021

Attention: Client Services

          (g) Adding the following new Section 5.19 to the Rights Agreement:

“Force Majeure. Notwithstanding anything to the contrary contained herein, the
Rights Agent shall not be liable for any delays or failures in performance resulting from
acts beyond its reasonable control including, without limitation, acts of God, terrorist
acts, shortage of supply, breakdowns or malfunctions, interruptions or malfunction of
computer facilities, or loss of data due to power failures or mechanical difficulties with
information storage or retrieval systems, labor difficulties, war, or civil unrest.”

          (g) Adding the following language to the end of Section 5.16 of the Rights Agreement:

“except that the rights, duties and obligations of the Rights Agent shall be governed by and
construed in accordance with the laws of the Commonwealth of Massachusetts.”

     2. The term “Agreement” as used in the Rights Agreement shall mean the Rights Agreement, as
amended by this Amendment, or as it may from time to time be amended in the future by one or more
other written amendment or modification agreements entered into pursuant to the applicable
provisions of the Rights Agreement.

     3. This Amendment shall constitute a certificate from the Company that this Amendment
satisfies the terms of the first sentence of Section 5.4 of the Rights Agreement.

     4. This Agreement shall be binding upon and shall inure to the benefit of the parties hereto
and their respective successors and assigns.

     5. This Amendment shall be governed by and construed and enforced in accordance with the laws
of the State of Georgia applicable to contracts made and to be performed entirely within such
State.

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     6. Except as expressly herein amended, the terms and conditions of the Rights Agreement shall
remain in full force and effect.

[signatures on following pages]

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     IN WITNESS WHEREOF, the parties hereto have caused this First Amendment to Shareholder
Protection Rights Agreement to be duly executed as of the date first above written.

	 	 	 	 	 
	 	COMPANY:

RARE HOSPITALITY INTERNATIONAL, INC.

 	 
	 	By:  	/s/ Philip J. Hickey, Jr.
 	 
	 	 	Name:  	Philip J. Hickey, Jr. 	 
	 	 	Its:  	Chief Executive Officer 	 
	 
	 	RIGHTS AGENT:

COMPUTERSHARE TRUST COMPANY, N.A.

 	 
	 	By:  	/s/ Dennis V. Moccia
 	 
	 	 	Name:  	Dennis V. Moccia 	 
	 	 	Its:  	Managing DirectorEX-4.1 Specimen Unit Certificate

 

Exhibit 4.1

[Founders’ Unit and Co-Investment Unit Legend

THE SECURITIES REPRESENTED BY THIS UNIT CERTIFICATE (INCLUDING THE UNDERLYING COMMON STOCK, WARRANT
AND THE SECURITIES ISSUABLE UPON EXERCISE OF THE UNDERLYING WARRANT ) HAVE NOT BEEN REGISTERED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR THE SECURITIES LAWS OF ANY STATE OR
OTHER JURISDICTION, AND MAY NOT BE TRANSFERRED IN VIOLATION OF SUCH ACT AND LAWS, OR AN EXEMPTION
FROM REGISTRATION THEREFROM.

THE SECURITIES REPRESENTED BY THIS UNIT CERTIFICATE (INCLUDING THE UNDERLYING COMMON STOCK, WARRANT
AND THE SECURITIES ISSUABLE UPON EXERCISE OF THE UNDERLYING WARRANT ) ARE SUBJECT TO ADDITIONAL
RESTRICTIONS ON TRANSFER AND OTHER AGREEMENTS SET FORTH IN (I) THE LETTER AGREEMENT DATED AS OF
AUGUST 9, 2007 AS MAY BE AMENDED FROM TIME TO TIME, BY AND AMONG THE HOLDER, THE COMPANY AND
CITIGROUP GLOBAL MARKETS INC. AND (II) THE WARRANT AGREEMENT DATED AS OF AUGUST 9, 2007 AS MAY BE
AMENDED FROM TIME TO TIME, BY AND BETWEEN THE COMPANY AND THE WARRANT AGENT. COPIES OF SUCH
AGREEMENTS MAY BE OBTAINED BY THE HOLDER HEREOF AT THE COMPANY’S PRINCIPAL PLACE OF BUSINESS
WITHOUT CHARGE.]

SPECIMEN UNIT CERTIFICATE

			
	NUMBER
	 	________________ UNITS
	 
	U-________________
	 	CUSIP ________________ 
	 
	 
	SEE REVERSE FOR CERTAIN
	 	 
	          
DEFINITIONS	 	 

LIBERTY ACQUISITION HOLDINGS CORP.

UNITS
CONSISTING OF ONE SHARE OF COMMON STOCK AND ONE HALF OF ONE WARRANT TO PURCHASE ONE

SHARE OF COMMON STOCK

THIS CERTIFIES THAT ____________________________________________________________________________________

is the owner of ____________________________________________________________________________________ Units.

Each Unit (“Unit”) consists of one (1) share of common stock, par value $0.0001 per share
(“Common Stock”), of Liberty Acquisition Holdings Corp., a Delaware corporation (the “Company”),
and one half (1/2) of one warrant (the “Warrant”). Each Warrant entitles the holder to purchase
one (1) share of Common Stock for $7.00 per share (subject to adjustment). Each Warrant will
become exercisable on the later of (i) the Company’s completion of a business combination with a
target business or (ii) [___], 2007 and will expire unless exercised before 5:00 p.m., New York
City Time, on [___], 2012, or earlier upon redemption (the “Expiration Date”). The Common Stock
and Warrants comprising the Units represented by this certificate will be permitted to trade
separately thirty-five business days (or such earlier number of days as the underwriters may
permit) after the consummation of the initial public offering of the Company (or as soon as
practicable thereafter), subject to the Company having filed a Current Report on Form 8-K with the
SEC containing an audited balance sheet reflecting the receipt by the Company of the gross proceeds
of its initial public offering and having issued a press release announcing when such separate
trading will begin. The terms of the Warrants are governed by a Warrant Agreement, dated as of
August 9, 2007 as may be amended from time to time, between the Company and

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Continental Stock Transfer & Trust Company, as Warrant Agent, and are subject to the terms and
provisions contained therein, all of which terms and provisions the holder of this certificate
consents to by acceptance hereof. Copies of the Warrant Agreement are on file at the office of the
Warrant Agent at 17 Battery Place, New York, New York 10004, and are available to any Warrant
holder on written request and without cost. This certificate is not valid unless countersigned by
the Transfer Agent and Registrar of the Company.

Witness the facsimile seal of the Company and the facsimile signature of its duly authorized
officers.

	 	 	 	 	 	 	 
	Dated:
	 	 	 	 	 	 
	 	 	 	 	 	 	 
	By:
	 	 	 	 	 	 
	 

	 	 
	 	 	 	 
	 

	 	Chief Executive Officer
	 	 	 	Secretary
	 
	 	 	 	 	 	 
	Countersigned and Registered:	 	 
	 
	 	 	 	 	 	 
	By:
	 	 	 	 	 	 
	 

	 	 
	 	 	 	 
	 

	 	Continental Stock Transfer & Trust Company
	 	 	 	Registrar

CORPORATE SEAL

2007

DELAWARE

LIBERTY ACQUISITION HOLDINGS CORP.

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     The Company will furnish without charge to each stockholder who so requests, a statement of
the powers, designations, preferences and relative, participating, optional or other special rights
of each class of stock or series thereof of the Company and the qualifications, limitations, or
restrictions of such preferences and/or rights. This certificate and the Units represented hereby
are issued and shall be held subject to the terms and conditions applicable to the securities
underlying and comprising the Units.

     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

     TEN ENT —  as tenants by the entireties

     JT TEN —  as joint tenants with right of survivorship and not as tenants in common

	 	 	 	 	 	 	 	 	 
	UNIF GIFT MIN ACT
	—	 	 	 	 	Custodian	 	 
	 

	 	 	 	 
	 	 	 	 
	 

	 	 	 	(Cust)	 	 	 	(Minor)
	 
	 	under Uniform Gifts to Minors	 	 
	 

	 	Act	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	(State)	 	 

Additional Abbreviations may also be used though not in the above list.

     For
value received, ________________________________ hereby sell, assign and transfer unto

	 	 	 
	PLEASE INSERT SOCIAL SECURITY OR OTHER 

IDENTIFYING NUMBER OF ASSIGNEE

	 	 
	 
	 	 
	 	 
	 
	 
	 
	 	 
	 	 
	 

 

(PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING ZIP CODE, OF ASSIGNEE)

 

 

			
	 
	 	Units

represented by the within Certificate, and do hereby irrevocably constitute and appoint

			
	 
	 	Attorney

to transfer the said Units on the books of the within named Company will full power of substitution in
the premises.

	 	 	 	 	 	 	 	 	 
	Dated
	 	 	 	 	 	 	 	 
	 

	 	 
	 	 	 	 	 	 
	 

	 	 	 	 	 	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.
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 

Signature(s) Guaranteed:

 

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 S.E.C. RULE 17Ad-15).

3

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