Document:

Lexmark International, Inc., 1Q 2007 Form 10-Q, Exhibit 10.3

    

      Exhibit
        10.3

      

      AMENDMENT
        NO. 1

      LEXMARK
        SUPPLEMENTAL SAVINGS 

      AND
        DEFERRED COMPENSATION PLAN

      

      WHEREAS,
        Lexmark International, Inc.
        (the "Company") sponsors and maintains the Lexmark Supplemental Savings and
        Deferred Compensation Plan (the "Plan"), which Plan was adopted effective
        as of
        April 3, 2006; and 

      

      WHEREAS,
        the Company reserved the right
        in the Plan document to amend the Plan by action of its Board of Directors;
        and

      

      WHEREAS,
        the Company, with the approval
        of the Board of Directors, desires to amend the Plan to modify the Plan
        provisions setting forth the rate at which interest is credited to a
        Participant's Account.

      

      NOW,
        THEREFORE, Section 5.3 of the Plan
        is amended, effective as of January 1, 2007, to read as follows:

      

      5.3 Interest
        Credits to Account. Each Account maintained for a Participant shall be
        credited with interest. Interest is credited during a Plan Year at a rate
        equal
        to the Merrill Lynch U.S. Corporate 7-10 year index rate determined as of
        the
        last business day of the month of November of the prior year, or if such
        index
        rate is not available, such other comparable rate as is determined to be
        appropriate by the Committee. However, in no event shall the interest crediting
        rate exceed 120% of the applicable federal long-term rate as determined under
        Internal Revenue Code Section 1274(d) or any other rate above which such
        earnings would be considered “above-market” or “preferential” earnings pursuant
        to the rules and regulations of the Securities and Exchange Commission. Interest
        accrues from the date of credits specified in Section 5.2.

       

           IN WITNESS 
WHEREOF,
        the
        Company  has caused   this Amendment  No. 1 to the Plan to
        be  executed by  its  duly authorized  representative
 this 27th day of February, 2007.

      
 

      LEXMARK
        INTERNATIONAL, INC.

      

      

      

      By:
                 /s/ Jeri I.
        Stromquist            

      

      Title:     VP
        Human
        ResourcesUnassociated Document

     

    NEITHER
      THIS WARRANT NOR THE SHARES OF COMMON STOCK ISSUABLE UPON EXERCISE HEREOF HAVE
      BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY APPLICABLE
      STATE SECURITIES LAW AND NEITHER MAY BE SOLD OR OTHERWISE TRANSFERRED UNTIL
      (I) A REGISTRATION STATEMENT UNDER SUCH SECURITIES ACT AND SUCH APPLICABLE
      STATE SECURITIES LAWS SHALL HAVE BECOME EFFECTIVE WITH REGARD THERETO, OR
      (II) THE COMPANY SHALL HAVE RECEIVED A WRITTEN OPINION OF COUNSEL
      ACCEPTABLE TO THE COMPANY TO THE EFFECT THAT REGISTRATION UNDER SUCH SECURITIES
      ACT AND SUCH APPLICABLE STATE SECURITIES LAWS IS NOT REQUIRED IN CONNECTION
      WITH
      SUCH PROPOSED TRANSFER.

     

    CLASSIC
      COSTUME COMPANY, INC.

     

    WARRANT

     

    Original
      Issue Date: January 17, 2007

     

    THIS
      CERTIFIES THAT, FOR VALUE RECEIVED, SICHENZIA ROSS FRIEDMAN FERENCE
      LLP or
      its
      registered assigns (“Holder”)
      is
      entitled to purchase, on the terms and conditions hereinafter set forth, at
      any
      time or from time to time from the date hereof until 5:00 p.m., Eastern Time,
      on
      the 20th
      anniversary of the Original Issue Date set forth above, or if such date is
      not a
      day on which the Company (as hereinafter defined) is open for business, then
      the
      next succeeding day on which the Company is open for business (such date is
      the
“Expiration
      Date”),
      but
      not thereafter, to purchase an amount of shares of the Common Stock, par value
      $0.001 (the “Common
      Stock”),
      of
      Classic Costume Company, Inc., a Delaware corporation (the “Company”),
      equal
      to 15% of the fully diluted outstanding shares of Common Stock of the Company
      at
      the time (and after giving effect to) the exercise of the Warrant for an
      aggregate price of $1.00 in total (the “Exercise
      Price”)
      for
      all of the Warrant Shares as defined below. Each share of Common Stock as to
      which this Warrant is exercisable is a “Warrant
      Share”
and
      all
      such shares are collectively referred to as the “Warrant
      Shares.” This
      Warrant may only be exercised 61 days after the Company undergoes a Change
      in
      Control (as defined below) or implements a Stock Split (as defined below).
      In
      the event that the Company does undergo a Change in Control, then this Warrant
      may be exercised at the sole discretion of the Holder at any time prior to
      the
      Expiration Date.

     

    Section
      1. Exercise
      of Warrant; Conversion of Warrant.  

     

    (a) This
      Warrant may, at the option of Holder, be exercised in whole or in part from
      time
      to time by delivery to the Company at its principal office, Attention:
      President, on or before 5:00 p.m., Eastern Time, on the Expiration Date,
      (i) a written notice of such Holder's election to exercise this Warrant
      (the “Exercise
      Notice”),
      which
      notice may be in the form of the Notice of Exercise attached hereto, properly
      executed and completed by Holder or an authorized officer thereof, (ii) a
      wire transfer or check payable to the order of the Company, in an amount equal
      to the Exercise Price or $1.00, and
      (iii) this Warrant (the items specified in (i), (ii), and (iii) are
      collectively the “Exercise
      Materials”). 
      

     

    (b) As
      promptly as practicable, and in any event within two (2) business days after
      its
      receipt of the Exercise Materials, Company shall execute or cause to be executed
      and delivered to Holder a certificate or certificates representing the number
      of
      Warrant Shares specified in the Exercise Notice and if this Warrant is partially
      exercised, a new warrant on the same terms for the unexercised balance of the
      Warrant Shares. The stock certificate or certificates shall be registered in
      the
      name of Holder or such other name or names as shall be designated in the
      Exercise Notice. The date on which the Warrant shall be deemed to have been
      exercised (the “Effective
      Date”),
      and
      the date the person in whose name any certificate evidencing the Common Stock
      issued upon the exercise hereof is issued shall be deemed to have become the
      holder of record of such shares, shall be the date the Company receives the
      Exercise Materials, irrespective of the date of delivery of a certificate or
      certificates evidencing theCommon Stock issued upon the exercise or conversion
      hereof, provided,
      however, that
      if
      the Exercise Materials are received by the Company on a date on which the stock
      transfer books of the Company are closed, the Effective Date shall be the next
      succeeding date on which the stock transfer books are open.  All shares of
      Common Stock issued upon the exercise or conversion of this Warrant will, upon
      issuance, be fully paid and nonassessable and free from all taxes, liens, and
      charges with respect thereto.

    
      
         

         

      

      
         

        
          

        

      

      
         

      

    

     

    Section
      3. No
      Stockholder Rights or Liabilities. 

     

    This
      Warrant shall not entitle Holder hereof to any voting rights or other rights
      or
      liabilities as a stockholder of the Company.

     

    Section
      4. Transfer
      of Securities.

     

    (a) This
      Warrant and the Warrant Shares and any shares of capital stock received in
      respect thereof, whether by reason of a stock split or share reclassification
      thereof, a stock dividend thereon, or otherwise, shall not be transferable
      except upon compliance with the provisions of the Securities Act of 1933, as
      amended (the “Securities
      Act”)
      and
      applicable state securities laws with respect to the transfer of such
      securities.  The Holder, by acceptance of this Warrant, agrees to be bound
      by the provisions of Section 4 hereof and to indemnify and hold harmless
      the Company against any loss or liability arising from the disposition of this
      Warrant or the Warrant Shares issuable upon exercise hereof or any interest
      in
      either thereof in violation of the provisions of this Warrant.

     

    (b) Each
      certificate for the Warrant Shares and any shares of capital stock received
      in
      respect thereof, whether by reason of a stock split or share reclassification
      thereof, a stock dividend thereon or otherwise, and each certificate for any
      such securities issued to subsequent transferees of any such certificate shall
      (unless otherwise permitted by the provisions hereof) be stamped or otherwise
      imprinted with a legend in substantially the following form:

     

    “NEITHER
      THIS WARRANT NOR THE SHARES OF COMMON STOCK ISSUABLE UPON EXERCISE HEREOF HAVE
      BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY APPLICABLE
      STATE SECURITIES LAW AND NEITHER MAY BE SOLD OR OTHERWISE TRANSFERRED UNTIL
      (I) A REGISTRATION STATEMENT UNDER SUCH SECURITIES ACT AND SUCH APPLICABLE
      STATE SECURITIES LAWS SHALL HAVE BECOME EFFECTIVE WITH REGARD THERETO, OR
      (II) THE COMPANY SHALL HAVE RECEIVED A WRITTEN OPINION OF COUNSEL
      ACCEPTABLE TO THE COMPANY TO THE EFFECT THAT REGISTRATION UNDER SUCH SECURITIES
      ACT AND SUCH APPLICABLE STATE SECURITIES LAWS IS NOT REQUIRED IN CONNECTION
      WITH
      SUCH PROPOSED TRANSFER.”

     

    Section
      5. Miscellaneous. 
      

     

    (a) The
      terms
      of this Warrant shall be binding upon and shall inure to the benefit of any
      successors or permitted assigns of the Company and Holder.

     

    (b) Except
      as
      otherwise provided herein, this Warrant and all rights hereunder are
      transferable by the registered holder hereof in person or by duly authorized
      attorney on the books of the Company upon surrender of this Warrant, properly
      endorsed, to the Company.  The Company may deem and treat the registered
      holder of this Warrant at any time as the absolute owner hereof for all purposes
      and shall not be affected by any notice to the contrary. 

    
      
         

         

      

      
        2

        
          

        

      

      
         

      

    

     

    (c) Notwithstanding
      any provision herein to the contrary, Holder may not exercise, sell, transfer,
      or otherwise assign this Warrant unless the Company is provided with an opinion
      of counsel satisfactory in form and substance to the Company, to the effect
      that
      such exercise, sale, transfer, or assignment would not violate the Securities
      Act or applicable state securities laws. 

     

    (d) This
      Warrant may be divided into separate warrants covering one share of Common
      Stock
      or any whole multiple thereof, for the total number of shares of Common Stock
      then subject to this Warrant at any time, or from time to time, upon the request
      of the registered holder of this Warrant and the surrender of the same to the
      Company for such purpose.  Such subdivided Warrants shall be issued
      promptly by the Company following any such request and shall be of the same
      form
      and tenor as this Warrant, except for any requested change in the name of the
      registered holder stated herein.

     

    (e) Any
      notices, consents, waivers, or other communications required or permitted to
      be
      given under the terms of this Warrant must be in writing and will be deemed
      to
      have been delivered (a) upon receipt, when delivered personally, (b) upon
      receipt, when sent by facsimile, provided
      a copy
      is mailed by U.S. certified mail, return receipt requested, (c) three (3) days
      after being sent by U.S. certified mail, return receipt requested, or (d) one
      (1) day after deposit with a nationally recognized overnight delivery service,
      in each case properly addressed to the party to receive the same.

     

    If
      to
      Holder, to the registered address of Holder appearing on the books of the
      Company, or, in the case of the Company, at the principal offices of the
      Company. Each party shall provide five (5) days prior written notice to the
      other party of any change in address, which change shall not be effective until
      actual receipt thereof.

     

    (f) All
      questions concerning the construction, validity, enforcement and interpretation
      of the this Warrant shall be governed by and construed and enforced in
      accordance with the internal laws of the State of New York, without regard
      to
      the principles of conflicts of law thereof. Each party agrees that all legal
      proceedings concerning the validity, interpretations and enforcement of this
      Warrant (whether brought against a party hereto or its respective affiliates,
      directors, officers, shareholders, employees or agents) shall be commenced
      exclusively in the state and federal courts sitting in the City of New York.
      Each party hereby irrevocably submits to the exclusive jurisdiction of the
      state
      and federal courts sitting in the City of New York, borough of Manhattan for
      the
      adjudication of any dispute hereunder (including with respect to the enforcement
      of this Warrant), and hereby irrevocably waives, and agrees not to assert in
      any
      suit, action or proceeding, any claim that it is not personally subject to
      the
      jurisdiction of any such court, that such suit, action or proceeding is improper
      or inconvenient venue for such proceeding. Each party hereby irrevocably waives
      personal service of process and consents to process being served in any such
      suit, action or proceeding by mailing a copy thereof via registered or certified
      mail or overnight delivery (with evidence of delivery) to such party at the
      address in effect pursuant to paragraph (e) above and agrees that such service
      shall constitute good and sufficient service of process and notice thereof.
      Nothing contained herein shall be deemed to limit in any way any right to serve
      process in any manner permitted by law. The parties hereby waive all rights
      to a
      trial by jury. If either party shall commence an action or proceeding to enforce
      any provisions of this Warrant, then the prevailing party in such action or
      proceeding shall be reimbursed by the other party for its attorneys’ fees and
      other costs and expenses incurred with the investigation, preparation and
      prosecution of such action or proceeding. 

     

    
      
         

         

      

      
        3

        
          

        

      

      
         

      

    

     

    
      (g) Stock
        Split is defined as a stock split or subdivision of the outstanding shares
        of
        Common Stock or the determination of holders of Common Stock entitled to
        receive
        a dividend or other distribution payable in additional shares of Common Stock,
        or securities or rights convertible into, or entitling the holder thereof
        to
        receive directly or indirectly, additional shares of Common Stock (hereinafter
        referred to as “Common
        Stock Equivalents”)
        without payment of any consideration by such holder for the additional shares
        of
        Common Stock or the Common Stock Equivalents

       

    

    (h) Change
      in
      Control is defined as the issuance of shares of Common Stock or Common Stock
      Equivalents representing 25% of the outstanding shares of Common Stock of the
      Company. Such issuance may be one specific issuance or on several issuance
      commencing on the Original Issue Date through the Expiration Date. 

     

    [REMAINDER
      OF PAGE INTENTIONALLY LEFT BLANK]

    
      
         

         

      

      
        4

        
          

        

      

      
         

      

    

    SIGNATURE
      PAGE

     

    TO

     

    COMPANY

     

    WARRANT

     

     

    IN
      WITNESS WHEREOF, the Company, has caused this Warrant to be executed in its
      name
      by its duly authorized officers under seal, and to be dated as of the date
      first
      above written.

     

     

    
      	 	 	 
	 	
              CLASSIC
                COSTUME COMPANY, INC.

            
	 
 	 
 	 
 
	 	By:  	/s/ E.
              Todd
              Owens
	 	
              
Name:
              E. Todd Owens
	 	Title: President

    

     

    
      
         

         

      

      
        5

        
          

        

      

      
         

      

    

     

    ASSIGNMENT

     

    (To
      be
      Executed by the Registered Holder to effect a Transfer of the foregoing
      Warrant)

     

    FOR
      VALUE
      RECEIVED, the undersigned hereby sells, and assigns and transfers unto
      ___________________________________________________________________________
      the
      foregoing Warrant and the rights represented thereto to purchase shares of
      Common Stock of CLASSIC COSTUME COMPANY, INC. in accordance with terms and
      conditions thereof, and does hereby irrevocably constitute and appoint
      ________________ Attorney to transfer the said Warrant on the books of the
      Company, with full power of substitution.

     

    Holder:

     

     

     

     

     

    Address

     

    Dated:
      __________________, 20__

     

    

    
      
         

         

      

      
        6

        
          

        

      

      
         

      

    

    EXERCISE
      OR CONVERSION NOTICE

     

     

    [To
      be
      signed only upon exercise of Warrant]

     

    To: CLASSIC
      COSTUME COMPANY, INC. 

     

    The
      undersigned Holder of the attached Warrant hereby irrevocably elects to exercise
      the Warrant for, and to purchase thereunder, _____ shares of Common Stock of
      CLASSIC COSTUME COMPANY, INC. issuable upon exercise of said Warrant and hereby
      surrenders said Warrant.

     

    The
      undersigned herewith requests that the certificates for such shares be issued
      in
      the name of, and delivered to the undersigned, whose address is
      ________________________________.

     

    

    If
      electronic book entry transfer, complete the following:

     

    Account
      Number:       

     

    Transaction
      Code Number:    

     

    Dated:
      ___________________

     

    Holder:

     

    ____________________________________

     

    ____________________________________

     

    By:

    Name:

    Title:

     

    NOTICE

     

    The
      signature above must correspond to the name as written upon the face of the
      within Warrant in every particular, without alteration or enlargement or any
      change whatsoever.

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