Document:

exh4-2.htm

Exhibit 4.2

 

This FOURTH SUPPLEMENTAL INDENTURE (this “Fourth Supplemental Indenture”), dated as of September 24, 2012, is entered into by and among URS CORPORATION, a Delaware corporation (“Parent”), URS FOX US LP, a Delaware limited partnership and a wholly owned subsidiary of Parent (“Fox LP,” and, together with Parent, the “Issuers”), the guarantors listed on the signature pages attached hereto (the “Additional Guarantors”) and U.S. BANK NATIONAL ASSOCIATION, as trustee (the “Trustee”), under the Indenture (as defined below).

 

RECITALS

 

WHEREAS, the Issuers, the guarantors party thereto (collectively, the “Initial Guarantors”) and the Trustee have heretofore executed and delivered to the Trustee an indenture (the “Base Indenture”), dated as of March 15, 2012, as amended and supplemented by a supplemental indenture, dated as of March 15, 2012, among the Issuers, the Initial Guarantors and the Trustee (the “First Supplemental Indenture”), a second supplemental indenture, dated as of March 15, 2012, among the Issuers, the Initial Guarantors and the Trustee (the “Second Supplemental Indenture”), and a third supplemental indenture, dated as of May 14, 2012, among the Issuers, the guarantors party thereto and the Trustee (the “Third Supplemental Indenture,” and the Base Indenture, as amended and supplemented by the First Supplemental Indenture, the Second Supplemental Indenture and the Third Supplemental Indenture, the “Indenture”);

 

WHEREAS, Sections 2.1 and 9.1 of the Base Indenture provide, among other things, that the Issuers and the Trustee may, without the consent of Holders, enter into indentures supplemental to the Indenture to provide for specific terms applicable to any series of Securities;

 

WHEREAS, the Indenture provides that the Issuers shall cause any domestic Subsidiaries of Parent that become guarantors under Parent’s Credit Agreement to execute and deliver to the Trustee a supplement to the Indenture pursuant to which such domestic Subsidiary will guarantee payment of the Notes and all other Obligations of the Issuers on the same terms and conditions as those set forth in the Indenture (each an “Additional Securities Guarantee”);

 

WHEREAS, pursuant to Section 9.1 of the Base Indenture, the Issuers and the Trustee are authorized to execute and deliver this Fourth Supplemental Indenture to amend or supplement the Indenture, without the consent of any Holder of Notes (as defined below);

 

WHEREAS, the Issuers, the Additional Guarantors and the Trustee intend by this Fourth Supplemental Indenture to provide that the 3.850% Senior Notes due 2017 (the “2017 Notes”) and the 5.000% Senior Notes due 2022 (the “2022 Notes,” and, together with the 2017 Notes, the “Notes”) issued by the Issuers pursuant to the First Supplemental Indenture and the Second Supplemental Indenture, respectively, will be entitled to the benefits of the Additional Securities Guarantees of the Additional Guarantors;

 

WHEREAS, each of the Additional Guarantors intends by this Fourth Supplemental Indenture to execute an Additional Securities Guarantee with respect to the Notes; and

 

  

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WHEREAS, all actions required to be taken by the Issuers, the Additional Guarantors and the Trustee under the Indenture to make this Fourth Supplemental Indenture a valid, binding and legal agreement of the Issuers, the Additional Guarantors and the Trustee have been done.

 

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

 

ARTICLE I

 

DEFINITIONS AND INCORPORATION BY REFERENCE

 

SECTION 1.01  Definitions.  All capitalized terms used herein and not otherwise defined shall have the meanings ascribed thereto in the Indenture.

 

ARTICLE II

 

SUPPLEMENT TO THE INDENTURE

 

SECTION 2.01  Agreement to Guarantee.  The Additional Guarantors hereby agree to guarantee the obligations of the Issuers (a) under the Notes on the terms and subject to the conditions set forth in Article X of the Base Indenture, (b) under the 2017 Notes on the terms and subject to the conditions set forth in Article VI of the First Supplemental Indenture, and (c) under the 2022 Notes on the terms and subject to the conditions set forth in Article VI of the Second Supplemental Indenture.  From and after the date hereof, each of the Additional Guarantors shall be a Guarantor for all purposes under the Indenture and the Notes.

 

SECTION 2.02  Incorporation of Terms of Indenture.  The obligations of each Additional Guarantor under the Additional Securities Guarantee shall be governed in all respects by the terms of the Indenture and shall constitute a Securities Guarantee thereunder.  Each Additional Guarantor shall be bound by the terms of the Indenture as such terms relate to the Securities Guarantees with respect to the Notes.

 

ARTICLE III

 

MISCELLANEOUS

 

SECTION 3.01  Amendment of Notes.  This Fourth Supplemental Indenture shall be effective upon execution hereof by the Issuers, the Additional Guarantors and the Trustee, and any corresponding provisions reflected in the Notes shall also be deemed amended and supplemented in conformity with this Fourth Supplemental Indenture.

 

SECTION 3.02  Ratification of Indenture; Interpretation and Severability.  This Fourth Supplemental Indenture is executed and shall be construed as an indenture supplement to the Indenture, and, as supplemented and modified hereby, the Indenture is in all respects ratified and confirmed, and the Indenture and this Fourth Supplemental Indenture shall be read, taken and construed as one and the same instrument, except that, in the case of conflict between the Indenture and this Fourth Supplemental Indenture, the provisions of this Fourth Supplemental Indenture will control.  Every Holder of Notes heretofore or hereafter authenticated and delivered shall be bound by the Indenture, as supplemented and modified by this Fourth Supplemental Indenture, except that, in the case of conflict between the Indenture and this Fourth Supplemental Indenture, the provisions of this Fourth Supplemental Indenture will control.  In case any provision in this Fourth Supplemental Indenture shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions hereof shall not in any way be affected or impaired thereby.

 

  

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SECTION 3.03  Trust Indenture Act Controls.  If any provision of this Fourth Supplemental Indenture limits, qualifies or conflicts with another provision that is required or deemed to be included in this Fourth Supplemental Indenture by the TIA, the required or deemed provision shall control.

 

SECTION 3.04  Governing Law.  THIS FOURTH SUPPLEMENTAL INDENTURE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPLES THEREOF.  EACH OF THE ISSUERS, THE ADDITIONAL GUARANTORS AND THE TRUSTEE HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS FOURTH SUPPLEMENTAL INDENTURE OR THE ADDITIONAL SECURITIES GUARANTEES CONTEMPLATED HEREBY.

 

SECTION 3.05  Successors.  All agreements of the Issuers, the Additional Guarantors and the Trustee in this Fourth Supplemental Indenture shall bind their respective successors.

 

SECTION 3.06  Multiple Originals.  The parties hereto may sign any number of copies of this Fourth Supplemental Indenture.  Each signed copy shall be an original, but all of them together represent the same agreement.  One signed copy is enough to prove this Fourth Supplemental Indenture.  The exchange of copies of this Fourth Supplemental Indenture and of signature pages by facsimile or PDF transmission shall constitute effective execution and delivery of this Fourth Supplemental Indenture as to the parties hereto and may be used in lieu of the original Fourth Supplemental Indenture for all purposes.  Signatures of the parties hereto transmitted by facsimile or PDF shall be deemed to be their original signatures for all purposes.

 

SECTION 3.07  Headings.  The article and section headings of this Fourth Supplemental Indenture have been inserted for convenience of reference only, are not intended to be considered a part hereof and shall not modify or restrict any of the terms or provisions hereof.

 

SECTION 3.08  Trustee Not Responsible for Recitals.  The recitals contained herein shall be taken as statements of the Issuers and the Additional Guarantors, and the Trustee does not assume any responsibility for the accuracy of the recitals.  The Trustee makes no representations as to the validity or sufficiency of this Fourth Supplemental Indenture, except that the Trustee represents that it is duly authorized to execute and deliver this Fourth Supplemental Indenture and perform its Obligations hereunder.  All rights, protections, privileges, indemnities and benefits granted or afforded to the Trustee under the Indenture shall be deemed incorporated herein by this reference and shall be deemed applicable to all actions taken, suffered or omitted by the Trustee under this Fourth Supplemental Indenture.

 

  

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IN WITNESS WHEREOF, the parties hereto have caused this Fourth Supplemental Indenture to be duly executed and attested, all as of the date first above written.

 

 

ISSUERS

URS CORPORATION

                       

	 	 
	
By: 

	/s/ H. Thomas Hicks   
	 Name:	H. Thomas Hicks   
	 Title:	Chief Financial Officer
	 	 

 

URS FOX US LP

	 	 
	
By: 

	/s/ H. Thomas Hicks   
	 Name:	H. Thomas Hicks   
	 Title:	Authorized Officer
	 	 

 

ADDITIONAL GUARANTORS

URS E&C HOLDINGS, INC.

 

	 	 
	
By: 

	/s/ H. Thomas Hicks   
	 Name:	H. Thomas Hicks   
	 Title:	Vice President and Chief Financial Officer
	 

 

URS INTERNATIONAL, INC.

	 	 
	
By: 

	/s/ H. Thomas Hicks   
	 Name:	H. Thomas Hicks   
	 Title:	Vice President
	 

 

URS PROFESSIONAL SOLUTIONS LLC

 

 

	 	 
	
By: 

	/s/ Judy L. Rodgers  
	 Name:	Judy L. Rodgers   
	 Title:	Vice President and Treasurer
	 

URS RESOURCES, LLC

 

	 	 
	
By: 

	/s/ H. Thomas Hicks   
	 Name:	H. Thomas Hicks   
	 Title:	Member Representative
	 

TRUSTEE

U.S. BANK NATIONAL ASSOCIATION

 

	 	 
	
By: 

	/s/ Paula Oswald  
	 Name:	Paula Oswald   
	 Title:	Vice President
	 

 

[Signature Page to Fourth Supplemental Indenture]

  

4exhibit101.htm

 

 

Exhibit 10.1

 

 

NIKE, INC. LONG-TERM INCENTIVE PLAN

This is the Long-Term Incentive Plan of NIKE, Inc. for the payment of incentive compensation to designated employees.

Section 1. Definitions.

The following terms have the following meanings:

Board: The Board of Directors of the Company.

Code: The Internal Revenue Code of 1986, as amended.

Committee: The Compensation Committee of the Board, provided however, if the Compensation Committee of the Board is not composed entirely of Outside Directors, the “Committee” shall mean a committee composed entirely of at least two Outside Directors appointed by the Board from time to time.

Company: NIKE, Inc.

Outside Directors: The meaning ascribed to this term in Section 162(m) of the Code and the regulations proposed or adopted thereunder.

Performance Period: The period of time for which Company performance is measured for purposes of a Target Award.

Performance Target: An objectively determinable level of performance as selected by the Committee to measure performance of the Company or any subsidiary, division, or other unit of the Company for the Performance Period based on one or more of the following: net income, net income before taxes, operating income, revenues, return on sales, return on equity, earnings per share, total shareholder return, or any of the foregoing before the effect of acquisitions, divestitures, accounting changes, restructuring, or other special charges, as determined by the Committee at the time of establishing a Performance Target.

Plan: The Long-Term Incentive Plan of the Company.

Target Award: An amount of compensation to be paid in cash to a Plan participant based on achievement of a particular Performance Target level, as established by the Committee.

Year: The fiscal year of the Company.

Section 2. Objectives.

The objectives of the Plan are to:

(a) recognize and reward on a long-term basis selected employees of the Company and its subsidiaries for their contributions to the overall profitability and performance of the Company; and

(b) qualify compensation under the Plan as “performance-based compensation” within the meaning of Section 162(m) of the Code and the regulations promulgated thereunder.

Section 3. Administration.

The Plan will be administered by the Committee. Subject to the provisions of the Plan, the Committee will have full authority to interpret the Plan, to establish and amend rules and regulations relating to it, to determine the terms and provisions for making awards and to make all other determinations necessary or advisable for the administration of the Plan.

Section 4. Participation.

Target Awards may be granted under the Plan only to individuals selected by the Committee who are employees of the Company or a subsidiary of the Company.

Section 5. Determination of the Performance Targets and Awards.

(a) Performance Targets and Awards. The Committee shall establish in writing, in its sole discretion, the Performance Targets and Target Award opportunities for each participant, within 90 days of the beginning of the applicable Performance Period.  The Committee may establish (i) several Performance Target levels for each participant, each corresponding to a different Target Award opportunity, and (ii) different Performance Targets and Target Award opportunities for each participant in the Plan.

(b) Other Terms and Restrictions.  The Committee may establish other restrictions to payment under a Target Award, such as a continued employment requirement, in addition to satisfaction of the Performance Targets.

(c) Maximum Awards.  The Committee shall not establish Target Award opportunities for any participant such that the maximum amount payable under Target Awards which have Performance Periods ending in any single Year exceeds $12,000,000.

Section 6. Determination of Plan Awards.

At the conclusion of the Performance Period, in accordance with Section 162(m)(4)(C)(iii) of the Code, prior to the payment of any award under the Plan, the Committee shall certify in the Committee’s internal meeting minutes the attainment of the Performance Targets for the Performance Period and the calculation of the awards.  No award shall be paid if the related Performance Target is not met. The Committee may, in its sole discretion, reduce or eliminate any participant’s calculated award based on circumstances relating to the performance of the Company or the participant.  Awards will be paid in accordance with the terms of the awards as soon as practicable following the Committee’s certification of the awards.

Section 7. Termination of Employment.

The terms of a Target Award may provide that in the event of a participant’s termination of employment for any reason during a Performance Period, the participant (or his or her beneficiary) will receive, at the time provided in Section 6, all or any portion of the award to which the participant would otherwise have been entitled.

Section 8. Clawback Policy.

Unless otherwise provided at the time of establishing a Target Award, all awards under the Plan shall be subject to the NIKE, Inc. Policy for Recoupment of Incentive Compensation as approved by the Committee and in effect at the time the Target Award is established, or such other policy for “clawback” of incentive compensation as may be approved from time to time by the Committee.

Section 9. Miscellaneous.

(a) Amendment and Termination of the Plan. The Committee with the approval of the Board may amend, modify or terminate the Plan at any time and from time to time except insofar as approval by the Company’s shareholders is required pursuant to Section 162(m)(4)(C)(ii) of the Code. The Plan shall terminate at the first shareholder meeting that occurs in the fifth year after the Company’s shareholders approve the Plan. Notwithstanding the foregoing, no such amendment, modification or termination shall affect the payment of Target Awards previously established.

(b) No Assignment. Except as otherwise required by applicable law, no interest, benefit, payment, claim or right of any participant under the plan shall be subject in any manner to any claims of any creditor of any participant or beneficiary, nor to alienation by anticipation, sale, transfer, assignment, bankruptcy, pledge, attachment, charge or encumbrance of any kind, and any attempt to take any such action shall be null and void.

(c) No Rights to Employment. Nothing contained in the Plan shall give any person the right to be retained in the employment of the Company or any of its subsidiaries. The Company reserves the right to terminate a participant at any time for any reason notwithstanding the existence of the Plan.

(d) Beneficiary Designation. The Committee shall establish such procedures as it deems necessary for a participant to designate a beneficiary to whom any amounts would be payable in the event of a participant’s death.

(e) Plan Unfunded. The entire cost of the Plan shall be paid from the general assets of the Company. The rights of any person to receive benefits under the Plan shall be only those of a general unsecured creditor, and neither the Company nor the Board nor the Committee shall be responsible for the adequacy of the general assets of the Company to meet and discharge Plan liabilities, nor shall the Company be required to reserve or otherwise set aside funds for the payment of its obligations hereunder.

     (f) Applicable Law. The Plan and all rights thereunder shall be governed by and construed in accordance with the laws of the State of Oregon.

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