Document:

Letter, dated October 30, 2003, to Derek Winstanly

 Exhibit 10.55 
 Pharma Services Holding, Inc. 
 c/o One Equity Partners 

230 Park Avenue, 18th Floor 
 New York, New York 10022 
 October 30, 2003 

Derek Winstanly 
 Mayfair Roppongi #307

 16-38 Roppongi 5-chrome 
 Minato-Ku

 Tokyo 106-0032 Japan 
  

	Re:	Opportunity to Purchase Shares 

 Dear
Derek: 
 As you know, on September 25, 2003, Quintiles Transnational Corp. (“Quintiles”), became an indirect wholly-owned
subsidiary of Pharma Services Holding, Inc. (the “Company”). We are pleased to offer you the opportunity to purchase shares of common stock (“Shares”) of the “Company” pursuant to the Company’s Stock Incentive Plan
(the “Plan”) and on the terms and conditions set forth below. 
  

	1.	Number of Shares. You will have the opportunity to purchase up to 450,00) Shares. 

 

	2.	Purchase Price. The purchase price per Share is $0.2438, for a total of $109,710 if you purchase all of the Shares. The purchase price is payable either by check
to the Company, or by your interest bearing promissory note, or any combination of the two. If you desire to pay any portion of the purchase price by a note, you must complete the attached Promissory Note and Pledge Agreement.

  

	3.	Vesting. Your Shares when issued will be “Unvested Shares” (as defined in the Plan) and will become “Vested Shares” (as defined in the Plan)
as to 20% of the total number awarded on the 25th day of each September, beginning September 25, 2004 and ending September 25, 2008, provided (i) all Shares will become Vested Shares upon a “Sale of the Company”, as defined
in the Plan, and the Committee will not exercise its discretion to provide otherwise, and (ii) all Shares will become Vested Shares upon your termination of employment by reason of your death or pursuant to Section 4.3(ii) of your
Executive Employment Agreement (physical or mental inability to perform). In no event will any Unvested Shares become Vested Shares following your termination of employment with the Company and its subsidiaries for any reason (after taking into
account any vesting that occurs upon termination of employment pursuant to clause (ii) of the preceding sentence). 

	4.	Repurchase Right; Restrictions on Shares. Upon your termination of employment with the Company and its subsidiaries for any reason, the Company and certain other
persons may, but are not obligated to, repurchase your Shares. As further described in Section 8 of the Plan, the repurchase price to be paid by the Company depends upon whether the Shares are Unvested Shares or Vested Shares, and the
circumstances of your termination. Generally, Unvested Shares may be repurchased for the price you paid for them, and Vested Shares may be repurchased for their “Fair Market Value”, as defined in the Plan, but under certain circumstances
described in the Plan, even your Vested Shares may be repurchased for the price you paid for them. Also, as further described in Section 8 of the Plan, the Shares are generally nontransferable prior to a Sale of the Company or “Qualified
Public Offering” (as defined in the Plan), the Company has the right to require that you participate in a Sale of the Company (a “Drag-Along Right”), and your right to vote with respect to the election of directors of the Company may
be restricted. For purposes of Section 8(c)(ii) of the Plan (Repurchase Right), in making a good faith determination of “Fair Market Value”, the Committee will take into account the most recent outside event pursuant to which a value
of a Share can be implied (including, without limitation, an equity issuance, stock option grant or valuation by an appraisal firm, investment bank or similar organization), provided that if no such event has occurred within the preceding 12 months,
the Committee shall obtain a new valuation by an appraisal firm, investment bank or similar organization, and shall take such valuation into account in determining Fair Market Value. For purposes of the proviso contained in Section 8(c)(ii) of
the Plan, clause (x) thereof shall not apply, and clause (y) shall apply only if the breach referred to therein is material. 

  

	5.	Taxes. A separate information statement describing the tax considerations relating to your purchase of Shares will be provided to you. 

 

	6.	Representations. 

 (a) Authority. You have the requisite power, authority and capacity to execute this Agreement and to perform your obligations under this Agreement and to consummate the transactions contemplated
hereby. The Acceptance has been duly and validly executed and delivered by you and constitutes your legal, valid and binding obligation, enforceable against you in accordance with its terms, except to the extent that such validly binding effect and
enforceability may be limited by applicable bankruptcy, reorganization, insolvency, moratorium and other laws relating to or affecting creditors’ rights generally. 

(b) Brokers. No Person is entitled to any broker’s, finder’s, financial adviser’s or other similar
fee or commission in connection with the transactions contemplated hereby based upon any action taken by you. 

(c) Shares Unregistered; Accredited Investor. You acknowledge that (i) the offer and sale of the Shares has
not been registered under applicable securities laws; (ii) the Shares being purchased by you must be held indefinitely; (iii) there is no established market for the Shares and it is not anticipated that there will be any such market for
the Shares in the 

  
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foreseeable future; (iv) you are an “accredited investor” under Rule 501(a) of the Securities Act of 1933; (v) your knowledge and experience in financial and business matters
are such that you are capable of evaluating the merits and risks of your investment in the Shares, or you have been advised by a representative (not affiliated with the Company) possessing such knowledge and experience; (vi) you and your
representatives, including your professional, financial, tax and other advisors, if any, have carefully considered your proposed investment in the Shares, and you understand and have taken cognizance of (or have been advised by your representatives
as to) the risk factors related to the acquisition of such Shares, and no representations or warranties have been made to you or your representatives concerning the Shares, the Company or the Company’s business, operations, financial condition
or prospects or other matters; (vii) in making your decision to purchase the Shares, you have relied upon independent investigations made by you and, to the extent believed by you to be appropriate, your representatives, including your
professional, financial, tax and other advisors, if any; (viii) you and your representatives have been given the opportunity to request to examine all documents of, and to ask questions of, and to receive answers from, the Company and its
representatives concerning the terms and conditions of the acquisition of the Shares and to obtain any additional information which you or your representatives deem necessary; (ix) you are acquiring the Shares for the purpose of investment and
not with a view to, or for resale in connection with, the distribution thereof, and not with any present intention of distributing such Shares and you have no present plan or intention to sell any of the Shares; and (x) the Company is allowing
you to acquire the Shares in reliance upon these representations and warranties. 
  

	7.	Subject to Plan. The opportunity to purchase the Shares is being made to you pursuant to the Plan, a copy of which is attached, and such purchase, holding and
transfer of the Shares is subject to the terms of the Plan in all respects. 

  

	8.	Conditions. Our offer and your acceptance of our to purchase Shares is conditional upon your execution of an amendment to your Executive Employment Agreement in
the form attached as Exhibit A no later than November 17, 2003. 

  

	9.	 Acknowledgement. You acknowledge: (i) that the Plan is discretionary in nature and may be suspended or terminated by the Company at any
time; (ii) that this grant of the opportunity to purchase Shares is a one-time benefit, which does not create any contractual or other right to receive future awards under the Plan, or benefits in lieu of awards; (iii) that all
determinations with respect to any such future grants, including, but not limited to, the times when awards shall be granted, the number of shares subject to each award, the exercise or purchase price, and the time or times when each award shall
vest, will be at the sole discretion of the Committee; (iv) that your participation in the Plan shall not create a right to further employment with the Company and shall not interfere with the Company’s or your ability to terminate the
your employment relationship at any time with or without cause; (v) that your participation in the Plan is voluntary; (vi) that the value of this award is an extraordinary item of compensation which is outside the scope of your employment
contract, if any; and (vii) that award is not part of normal or expected compensation for purposes of calculating any severance, resignation, redundancy, end of service payments, bonuses,

  
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long-service awards, pension or retirement benefits or similar payments. 

  

	10.	Employee Data Privacy. As a condition of the grant of this opportunity to purchase Shares, you consent to the collection, use and transfer of personal data as
described in this paragraph 10. You understand that the Company and its Affiliates hold certain personal information about you including, but not limited to, your name, home address and telephone number, date of birth, social security number,
salary, nationality, job title, shares of common stock or directorships held in the Company, details of all Options or other entitlement to shares of common stock awarded, cancelled, exercised, vested, unvested or outstanding in your favor, for the
purpose of managing and administering the Plan (“Data”). You further understand that the Company and/or its Affiliates will transfer Data amongst themselves as necessary for the purposes of implementation, administration and management of
your participation in the Plan, and that the Company and/or any of its Affiliates may each further transfer Data to any third parties assisting the Company in the implementation, administration and management of the Plans. You understand that these
recipients may be located in your country of residence or elsewhere, such as the United States. You authorize them to receive, possess, use, retain and transfer Data in electronic or other form, for the purposes of implementing, administering and
managing your participation in the Plan, including any requisite transfer of such Data as may be required for the administration of the Plan and/or the subsequent holding shares of common stock on your behalf to a broker or other third party with
whom the shares acquired on exercise may be deposited. You understand that he or she may, at any time, view the Data, require any necessary amendments to it or withdraw the consent herein in writing by contacting the local human resources
representative. 

 Please indicate the number of Shares you wish to purchase on the Acceptance below. Please return a signed copy
of the Acceptance, along with a check for the purchase price ($0.2438 per Share) made payable to Pharma Services Holding, Inc., to Gary Rothstein, Esq., Morgan Lewis & Bockius, LLP, 101 Park Avenue, New York, NY 10178. Your Acceptance and
payment must be received no later than November 17, 2003. 
  

	
	Sincerely yours,
	
	PHARMA SERVICES HOLDING, INC.

  
 4 

 ACCEPTANCE OF OFFER 
 TO PURCHASE COMMON SHARES OF PHARMA SERVICES HOLDING, INC. 
 I, Derek Winstanly [print name]
hereby accept the offer made to me by Pharma Services Holding, Inc. (“Pharma”) to purchase 450,000 shares of common stock of Pharma at a price per share of $0.2438 pursuant to and in accordance with the terms of a letter to me from Pharma
dated October 30, 2003. I further elect to pay the purchase price by enclosing a check for $        , and/or enclosing the Promissory Note for $109,710 and the accompanying Pledge Agreement.

  

					
	 /s/ Derek Winstanly
	 		 	 7/11/2003

		 		 	Date

  
 5EX-10.1

 Exhibit 10.1 
 [JEFFERIES LETTERHEAD] 
 Massachusetts Mutual Life Insurance Company 

C.M. Life Insurance Company 
 c/o Babson Capital
Management LLC 
 1500 Main Street, Suite 1100 
 Springfield, MA 01115 
 Attn:Mr. Cliff Noreen 

Leucadia National Corporation 
 315 Park Avenue
South 
 New York, NY 10010 
 Attn:Mr.
Joseph A. Orlando 
 February 15, 2013 
 Gentlemen: 
 Reference is hereby made to (i) that certain Agreement and Plan
of Merger, dated as of November 11, 2012 (“Merger Agreement One”), by and among Jefferies Group, Inc. (“Jefferies”), JSP Holdings, Inc. (“New Jefferies”) and Jasper Merger Sub, Inc.
(“Merger Sub One”), (ii) that certain Agreement and Plan of Merger, dated as of November 11, 2012 (“Merger Agreement Two”), by and among Leucadia National Corporation (“Leucadia”),
Limestone Merger Sub, LLC (“Merger Sub Two”), Jefferies, New Jefferies and Merger Sub One, and (iii) that certain Purchase Agreement, dated as of February 17, 2006 (the “Purchase Agreement”), by and among
Jefferies, Massachusetts Mutual Life Insurance Company (“Mass Mutual”) and C.M. Life Insurance Company (“C.M. Life”). 
 Pursuant to Merger Agreement One, Merger Sub One will merge with and into Jefferies, with Jefferies as the surviving corporation (the “First Merger”) and each share of Jefferies common
stock issued and outstanding immediately prior to the effective time of the First Merger will be converted into one share of New Jefferies common stock. Pursuant to Merger Agreement Two, New Jefferies will merge with and into Merger Sub Two, with
Merger Sub Two as the surviving entity (the “Second Merger”). Each of the undersigned parties hereby acknowledges and agrees that Mass Mutual and C.M. Life, as holders (the “Preferred Stockholders”) of all of the
3.25% Series A Cumulative Convertible Preferred Stock of Jefferies (the “Preferred Stock”), have, in connection with the First Merger and Second Merger, elected to receive (i) 3.25% Series A-1 Cumulative Convertible Preferred
Stock of Jefferies (“A-1 Preferred Stock”) in exchange for the Preferred Stock (“Exchange One”), (ii) 3.25% Series A Cumulative Convertible Preferred Stock of New Jefferies (the “New Jefferies Preferred
Stock”) in exchange for the A-1 Preferred 

 
Stock (“Exchange Two”) and, (ii) 3.25% Series A Cumulative Convertible Preferred Shares of Leucadia (the “Leucadia Preferred Shares”) in exchange for the
New Jefferies Preferred Stock (“Exchange Three; and together with Exchange One and Exchange Two, the “Exchanges”). 
 Section 1. Exchanges. In connection with each of the Exchanges, the applicable parties hereto will enter into or file with the appropriate governmental authority, as applicable, and hereby
approve the terms of, the following documents: 
  

	 	a)	Certificate of Designations of A-1 Preferred Stock in the form attached hereto as Exhibit A (the “Certificate of Designations”);

  

	 	b)	Exchange Agreement, in the form attached hereto as Exhibit B, pursuant to which the Preferred Stockholders will exchange the Preferred Stock for the A-1
Preferred Stock; 

  

	 	c)	Certificate of Designations of New Jefferies Preferred Stock in the form attached hereto as Exhibit C (the “New Jefferies Certificate of
Designations”); 

  

	 	d)	Certificate of Amendment to the Certificate of Incorporation of Leucadia with respect to the Leucadia Preferred Shares in the form attached hereto as Exhibit D
(the “Certificate of Amendment”); and 

  

	 	e)	Registration Rights Agreement in the form attached hereto as Exhibit E. 

 Section 2. Issuance of Leucadia Preferred Shares. 
 a)
Representations of Preferred Stockholders. The Preferred Stockholders hereby confirm, for the benefit of Leucadia, that the representations of the Preferred Stockholders set forth in Sections 6.1 and 6.2 of the Purchase Agreement are true and
correct, in each case, as of the date hereof and as of the Issue Date (as defined in the Certificate of Amendment). 
 b)
Obligations of the Preferred Stockholders and Leucadia. Each of the Preferred Stockholders and Leucadia hereby agree that Leucadia, as the “Company”, and the Preferred Stockholders, as the “Purchasers”, shall be obligated
to comply with the respective restrictions, promises and undertakings, applicable to the “Company” or the “Purchasers,” as the case may be, set forth in Sections 7, 8, 9, 10, 12, 14 and 15 of the Purchase Agreement with respect
to the Leucadia Preferred Shares. Other than as set forth in the preceding sentence, Leucadia shall have no liability or obligation under the Purchase Agreement. 
 Section 3. Waiver. Each of the undersigned parties hereby acknowledges and agrees that (a) none of the First Merger, the Second Merger, Exchange One, Exchange Two or Exchange Three shall
constitute, or be deemed to result in, a Change of Control Transaction, a Default Event, a Designated Event, a Fundamental Change, a Mandatory Redemption Event or a Termination of Trading (as each term is defined in that certain Certificate of
Designations of 3.25% Series A Cumulative Convertible Preferred Stock of Jefferies, the Certificate of Designations, the New Jefferies Certificate of Designations, and the Certificate of Amendment) and (b) none of the First Merger, the Second
Merger, Exchange One, Exchange Two or Exchange Three shall result in any adjustment to the Conversion Rate or the Conversion Price 

 
(as each term is defined in the Certificate of Designations, the New Jefferies Certificate of Designations and the Certificate of Amendment). In addition, the Preferred Stockholders hereby waive
any and all appraisal rights that they may have as a result of the First Merger, the Second Merger and any of the Exchanges under the General Corporation Law of the State of Delaware. 

Section 4. Miscellaneous. This Agreement shall be governed by and construed in accordance with the laws of the State of
Delaware, without regard to its conflict of laws principles. This Agreement may be executed in counterparts, including counterparts by facsimile and portable document format (.pdf), each of which shall be deemed an original and all of which together
shall constitute one and the same instrument. 
 [Signature Page Follows] 

 
			
	Sincerely,
	
	JEFFERIES GROUP, INC.
		
	By:	 	 /s/ Roland T. Kelly

	Name:	 	Roland T. Kelly
	Title:	 	Assistant Secretary
	
	JSP HOLDINGS, INC.
		
	By:	 	 /s/ Roland T. Kelly

	Name:	 	Roland T. Kelly
	Title:	 	Authorized Person

  
 [Signature
Page to Letter Agreement] 

			
	ACCEPTED AND AGREED:
	
	LEUCADIA NATIONAL CORPORATION
		
	By:	 	 /s/ Joseph A. Orlando

	Name:	 	Joseph A. Orlando
	Title:	 	Vice President and Chief Financial Officer
	
	MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY
		
	By:	 	Babson Capital Management LLC, as its Investment Advisor
		
	By:	 	 /s/ Clifford M. Noreen

	Name:	 	Clifford M. Noreen
	Title:	 	President
	
	C.M. LIFE INSURANCE COMPANY
		
	By:	 	Babson Capital Management LLC, as its Investment Advisor
		
	By:	 	 /s/ Clifford M. Noreen

	Name:	 	Clifford M. Noreen
	Title:	 	President

  
 [Signature
Page to Letter Agreement] 

 Exhibit A 

Certificate of Designations of Jefferies Group, Inc. 
 (See attached) 

 Exhibit B 

Exchange Agreement 
 (See attached) 

 Exhibit C 

Certificate of Designations of JSP Holdings, Inc. 
 (See attached) 

 Exhibit D 

Certificate of Amendment to the Certificate of Incorporation of Leucadia National Corporation 

(See attached) 

 Exhibit E 

Registration Rights Agreement 
 (See attached)

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