Document:

employmentamendmentrivas.htm

    AMENDMENT TO EMPLOYMENT AGREEMENT BETWEEN
ANADIGICS, INC. AND MARIO A. RIVAS DATED AS OF JANUARY 15, 2009

     

       

        This amendment is made and entered into
as of December 10, 2009 between ANADIGICS, Inc. (the "Company") and MARIO A.
RIVAS (the "Executive").

     

        WHEREAS, the Company and the Executive
desires to amend the Employment Agreement dated as of January 15, 2009 between
the Company and the Executive (the "Employment Agreement") to extend the term of
the Employment Agreement from December 31, 2010 to December 31, 2013;

     

        NOW, THEREFORE, the Company and the
Executive hereby agrees as follows:

     

        1.    The term of employment as set forth in
Article II of the Employment Agreement shall be amended in its entirety to read
as follows:

     

        "The Executive's term of employment under
this Agreement shall commence on February 1, 2009 (the "Closing Date") and shall
terminate on December 31, 2013 (the "Expiration Date"), unless terminated
earlier as provided in Article VI hereof (the "Term of Employment")."

     

        2.    Existing Section D of Article VI shall be
designated Section E.

     

        3.    The following new section shall be added
to Article VI:

       

        "D.    Termination of Employment on Expiration
Date

     

        In
the event the Executive's employment hereunder terminates on the Expiration
Date, the Executive shall be entitled subject to the Executive's executing
(and not revoking within any statutory revocation period) the Company's
Separation and Release Agreement in the form submitted by the Company's Human
Resources Department within fifty (50) days after such submission, to:

     

           (a)    any Base Salary earned but not yet paid
as of the date of termination to be paid in accordance with the Company's
regular payroll practice (as in effect at the time of termination);

     

           (b)    any annual bonus for the year ending
December 31, 2013 awarded and earned in accordance with the Company's annual
bonus proposed but not yet paid, to be paid at the time such annual bonus would
otherwise by due under Section IV.C above;

     

           (c)    reimbursement for all out-of-pocket
expenses that are reimbursable pursuant to Section IV.D and that are incurred
but not yet paid, prior to such termination of employment;

     

           (d)    continuation of the Executive's and his
dependent's health benefits, if any, at the level in effect on the date of
termination through the earlier to occur of (i) three (3) months from such
termination of employment or (ii) the date Executive commences employment with
another entity; and

     

           (e)    immediate vesting of Executive's stock
options and restricted stock which would have automatically vested within twelve
(12) months following the Expiration Date; Executive may exercise such options
within ninety (90) days of the date of termination of employment."

     

        IN
WITNESS WHEREOF, the Company has caused this Amendment to be executed by its
duly authorized officer and the Executive has hereunto set his hand as of the
day and year first above written.

     

                                   ANADIGICS, Inc.

                                     By:  /s/  Thomas Shields 

                                     Name:  Thomas Shields

                                     Title:   Executive Vice
President

       

                                     EXECUTIVE

                                     By: /s/ Mario. A. Rivasexv4w1

Exhibit 4.1

 

WILLIS NORTH AMERICA INC.

Issuer

WILLIS GROUP HOLDINGS LIMITED

Old Parent Guarantor

WILLIS GROUP HOLDINGS PUBLIC LIMITED COMPANY

New Parent Guarantor

WILLIS NETHERLANDS HOLDINGS B.V.

New Guarantor

WILLIS INVESTMENT UK HOLDINGS LIMITED

TA I LIMITED

TA II LIMITED

TA III LIMITED

TRINITY ACQUISITION PLC

TA IV LIMITED

WILLIS GROUP LIMITED

the Other Guarantors

and

THE BANK OF NEW YORK MELLON (as successor to JPMorgan Chase Bank, N.A.)

Trustee

 

Fifth Supplemental Indenture

Dated as of December 31, 2009

to the

Indenture

Dated as of July 1, 2005

as amended by

First Supplemental Indenture

Dated as of July 1, 2005

and

Second Supplemental Indenture

Dated as of March 28, 2007

and

Third Supplemental Indenture

Dated as of October 1, 2008

 

 

and

Fourth Supplemental Indenture

Dated as of September 29, 2009

 

Providing for the Guarantee of Senior Debt Securities

(Unlimited as to Aggregate Principal Amount)

2

 

FIFTH SUPPLEMENTAL INDENTURE

     FIFTH SUPPLEMENTAL INDENTURE (this “Fifth Supplemental Indenture”), dated
December 31, 2009, between Willis North America, Inc., a
Delaware corporation (the “Issuer”), Willis Group Holdings Limited, an exempted company under the
Companies Act 1981 of Bermuda (the “Old Parent Guarantor”), Willis Group Holdings Public Limited
Company, a company incorporated under the laws of Ireland having company number 475616 (the “New
Parent Guarantor”), Willis Netherlands Holdings B.V., a company organized and existing under the
laws of the Netherlands (the “New Guarantor”), the existing Guarantors listed on Schedule A (the
“Other Guarantors”) and The Bank of New York Mellon (as successor to JPMorgan Chase Bank, N.A.) a
New York banking corporation (the “Trustee”), to the Indenture, dated as of July 1, 2005, between
the Issuer, the Old Parent Guarantor, the Other Guarantors and the Trustee (the “Base Indenture”),
as amended by the First Supplemental Indenture, dated as of July 1, 2005 (the “First Supplemental
Indenture”), the Second Supplemental Indenture, dated as of March 28, 2007 (the “Second
Supplemental Indenture”), the Third Supplemental Indenture, dated as of October 1, 2008 (the “Third
Supplemental Indenture”) and the Fourth Supplemental Indenture, dated as of September 29, 2009 (the
“Fourth Supplemental Indenture” and together with the First, Second and Third Supplemental
Indentures and the Base Indenture, the “Indenture”).

RECITALS:

     WHEREAS, the Issuer, the Old Parent Guarantor, the Other Guarantors and the Trustee have
heretofore entered into the Indenture to provide for the issuance of the Issuer’s unsecured senior
debentures, notes or other evidences of Indebtedness (the “Securities”);

     WHEREAS, Section 9.01 of the Indenture permits a Guarantor, including the Parent Guarantor, to
convey, transfer or lease its properties and assets substantially as an entirety to any Person,
provided that (a) the successor Person in the case of the Parent Guarantor, shall be a Person
organized and existing under the laws of any United States jurisdiction, any state thereof,
Bermuda, England and Wales or any country that is a member of the European Monetary Union and was a
member of the European Monetary Union on January 1, 2004, and such Person shall expressly assume by
supplemental indenture, all the obligations of the Parent Guarantor under the Indenture and the
Securities and immediately after such transaction no Event of Default shall have happened or be
continuing and (b) the Parent Guarantor has delivered to the Trustee an Officers’ Certificate and
an Opinion of Counsel, each stating that (i) such conveyance, transfer or lease and supplemental
indenture comply with Article Nine of the Indenture and all the conditions precedent stated therein
have been complied with and (ii) in the case of the conveyance, transfer or lease by the Parent
Guarantor of its properties and assets substantially as an entirety to a Person organized other
than under the laws of Bermuda, Holders of the Securities will not recognize income, gain or loss
for U.S. Federal income tax purposes as a result of such conveyance, transfer or lease and will be
subject to U.S. Federal income tax on the same amounts, in the same manner and at the same times,
as would have been the case if such conveyance, transfer or lease had not occurred;

     WHEREAS, Section 9.02 of the Indenture permits the predecessor corporation to be relieved of
all obligations and covenants under the Indenture and the Securities after the conveyance or
transfer of the properties and assets of such Issuer or Guarantor substantially as an entirety in
accordance with Section 9.01 and after the successor Person succeeds to, is substituted for, and
becomes entitled to exercise every right and power of the Issuer or Guarantor, as the case may be;

     WHEREAS, Section 10.01(1) of the Indenture permits the Issuer, the Guarantors and the Trustee
to enter into a supplemental indenture to the Indenture without the consent of the Holders of the
Securities to evidence the succession of another Person to a Guarantor and the assumption by such

3

 

successor Person of the covenants of the Guarantor in the Indenture and the Securities
pursuant to Article Nine of the Indenture;

     WHEREAS, Section 10.01(9) of the Indenture permits the Issuer, the Guarantors and the Trustee
without the consent of the Holders of the Securities to enter into a supplemental indenture to make
any provisions with respect to matters arising under the Indenture, provided such action does not
adversely affect the interests of the Holders of the Securities in any material respect;

     WHEREAS, the Old Parent Guarantor, as a Parent Guarantor, is simultaneously herewith
transferring its properties and assets substantially as an entirety to the New Parent Guarantor and
the New Parent Guarantor desires to assume all the obligations of a Parent Guarantor under the
Indenture and the Securities, including all obligations of a Guarantor under Article Sixteen of the
Indenture (the “Guaranteed Obligations”);

     WHEREAS, the New Parent Guarantor, as a Guarantor, is simultaneously herewith transferring
its properties and assets (the “Transferred Assets”) substantially as an entirety to the New
Guarantor, a wholly owned subsidiary of the New Parent Guarantor, and the New Guarantor desires to
assume all the obligations of a Guarantor under the Indenture and the Securities, including all
Guaranteed Obligations;

     WHEREAS, the New Parent Guarantor will continue to be the parent holding company of the New
Guarantor and indirectly retain all its interests in the Transferred Assets and therefore desires
to retain all its obligations as Parent Guarantor under the Indenture;

     WHEREAS, the Trustee has agreed to enter into this Fifth Supplemental Indenture to evidence
the foregoing assumptions;

     WHEREAS, the Trustee has received an Opinion of Counsel and an Officers’ Certificate, pursuant
to Sections 1.02, 9.01 and 10.03 of the Indenture, stating, as applicable, that (a) the execution
of the Fifth Supplemental Indenture is authorized or permitted by the Indenture, (b) the transfer
of the Old Parent Guarantor’s properties and assets substantially as an entirety to the New Parent
Guarantor, the transfer of the New Parent Guarantor’s properties and assets substantially as an
entirety to the New Guarantor and the Fifth Supplemental Indenture comply with the provisions of
Article Nine of the Indenture, including the absence of tax consequences specified in Section
9.01(2)(b) of the Indenture, (c) in the case of the conveyance, transfer or lease by the Parent
Guarantor of its properties and assets substantially as an entirety to a Person organized other
than under the laws of Bermuda, Holders of the Securities will not recognize income, gain or loss
for U.S. Federal income tax purposes as a result of such conveyance, transfer or lease and will be
subject to U.S. Federal income tax on the same amounts, in the same manner and at the same times,
as would have been the case if such conveyance, transfer or lease had not occurred, (d) the Fifth
Supplemental Indenture does not adversely affect the interests of the Holders of Securities in any
material respect and (e) all conditions precedent provided for in the Indenture to such transaction
and to the execution and delivery by the Trustee of the Fifth Supplemental Indenture have been
complied with; and

     WHEREAS, all things necessary to make this Fifth Supplemental Indenture a valid agreement of
the Issuer, the Old Parent Guarantor, the New Parent Guarantor, the New Guarantor, the Other
Guarantors and the Trustee, in accordance with its terms, have been done.

     NOW, THEREFORE, in consideration of the above premises, each party covenants and agrees, for
the benefit of the other parties and for the equal and ratable benefit of all of the holders of the
Securities, as follows:

4

 

ARTICLE ONE

ASSUMPTION OF GUARANTOR OBLIGATIONS

     Section 1.1 Assumption of Parent Guarantor Obligations by New Parent
Guarantor.

     The New Parent Guarantor hereby assumes the obligations of the Parent Guarantor under the
Indenture and the Securities, and the Old Parent Guarantor is relieved of all obligations and
covenants under the Indenture and the Securities pursuant to Section 9.02 of the Indenture;

     Section 1.2 Assumption of Guarantor Obligations by New Guarantor.

     The New Guarantor hereby assumes the obligations of a Guarantor under the Indenture and the
Securities;

     Section 1.3 New Parent Guarantor to retain all obligations as the Parent
Guarantor.

     Notwithstanding Section 9.02 of the Indenture, if applicable, and the right thereunder of the
Parent Guarantor to be substituted for and released from its obligations under the Indenture, the
New Parent Guarantor shall continue to be the “Parent Guarantor” under the Indenture and shall
retain all of its obligations as Parent Guarantor under the Indenture and the Securities, as
currently in effect, including its obligations as a Guarantor pursuant to Article Sixteen, which
shall remain in full force and effect as if no assumption by the New Guarantor of the Guaranteed
Obligations had taken place.

     Section 1.4 Parent Guarantor Agencies.

     The New Parent Guarantor hereby confirms all agency appointments made by a Parent Guarantor
under the Indenture.

     Section 1.5 Guarantor Agencies.

     The New Guarantor hereby confirms all agency appointments made by a Guarantor under the
Indenture.

ARTICLE TWO

MISCELLANEOUS

     Section 2.1 Integral Part.

     This Fifth Supplemental Indenture constitutes an integral part of the Indenture.

     Section 2.2 Adoption, Ratification and Confirmation.

     The Indenture, as supplemented and amended by this Fifth Supplemental Indenture, is in all
respects hereby adopted, ratified and confirmed, and this Fifth Supplemental Indenture shall be
deemed part of the Indenture in the manner and to the extent herein and therein provided. The
provisions of this Fifth Supplemental Indenture shall, subject to the terms hereof, supersede the
provisions of the Indenture to the extent the Indenture is inconsistent herewith.

     Section 2.3 Counterparts.

     This Fifth Supplemental Indenture may be executed in any number of counterparts, each of which
so executed shall be deemed to be an original, but all such counterparts shall together constitute
but one and the same instrument.

     Section 2.4 Governing Law.

     THIS SUPPLEMENTAL INDENTURE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF
THE STATE OF NEW YORK.

5

 

     Section 2.5 Conflict with Trust Indenture Act.

     If and to the extent that any provision of the Indenture limits, qualifies or conflicts with a
provision required under the terms of the Trust Indenture Act, the Trust Indenture Act provision
shall control.

     Section 2.6 Effect of Heading and Table of Contents.

     The Article and Section headings herein and the Table of Contents are for convenience only and
shall not affect the construction hereof.

     Section 2.7 Separability Clause.

     In case any provision in the Indenture or in the Securities shall be invalid, illegal or
unenforceable, the validity, legality and enforceability of the remaining provisions shall not in
any way be affected or impaired thereby.

     Section 2.8 Successors and Assigns.

     All covenants and agreements in the Indenture by the parties hereto shall bind their
respective successors and assigns, whether so expressed or not.

     Section 2.9 Benefit of Indenture.

     Nothing in this Fifth Supplemental Indenture or in the Securities, express or implied, shall
give to any Person, other than the parties hereto, any Security Registrar, any Paying Agent, and
their successors hereunder, and the Holders of the Securities, any benefit or any legal or
equitable right, remedy or claim hereunder or under the Indenture.

     Section 2.10 The Trustee.

     The Trustee shall not be responsible in any manner whatsoever for or in respect of the
validity or sufficiency of this Supplemental Indenture or for or in respect of the recitals
contained herein, all of which are made solely by the Issuer and the Guarantors.

*****

[THE REMAINDER OF THIS PAGE HAS BEEN INTENTIONALLY LEFT BLANK]

6

 

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

	 	 	 	 	 
	 	

WILLIS NORTH AMERICA, INC.

 	 
	 	By:  	/s/ Donald J. Bailey	 
	 	 	Name:  	Donald J. Bailey 	 
	 	 	Title:  	Chief Executive Officer and President 	 
	 

Signature Page to Fifth Supplemental Indenture

 

 

	 	 	 	 	 
	 	WILLIS GROUP HOLDINGS LIMITED

 	 
	 	By:  	/s/ Patrick C. Regan	 
	 	 	Name:  	Patrick C. Regan 	 
	 	 	Title:  	Chief Financial Officer and
Group Chief Operating Officer 	 
	 
	 	WILLIS INVESTMENT UK HOLDINGS LIMITED

TA I LIMITED

TA II LIMITED

TA III LIMITED

TRINITY ACQUISITION PLC

TA IV LIMITED

WILLIS GROUP LIMITED

 	 
	 	By:  	/s/ Patrick C. Regan	 
	 	 	Name:  	Patrick C. Regan 	 
	 	 	Title:  	Director 	 
	 

Signature Page to Fifth Supplemental Indenture

 

 

	 	 	 
	 

	 	WILLIS GROUP HOLDINGS PUBLIC LIMITED COMPANY

	 	 	 
	PRESENT when the common seal of
	 	 
	WILLIS GROUP HOLDINGS
	 	/s/ Patrick C. Regan
	PUBLIC LIMITED COMPANY

	 	 

DIRECTOR/ MEMBER OF
	was affixed to this Deed:-

	 	SEALING COMMITTEE
	 
	 	 
	 
	 	/s/ Adam G. Ciongoli
	 

	 	 

DIRECTOR/ MEMBER OF

SEALING COMMITTEE

	 	 	 
	Witness’s signature:

	 	/s/ David Molloy
	Name:

	 	David Molloy
	Address:
	 	Earlsfort Terrace, Dublin 2
	Occupation:
	 	Solicitor

Signature Page to Fifth Supplemental Indenture

 

 

	 	 	 	 	 
	 	

WILLIS NETHERLANDS HOLDINGS B.V.

 	 
	 	By:  	/s/ A. C. Konijnendijk	 
	 	 	Name:  	A. C. Konijnendijk	 
	 	 	Title:  	Managing Director A 	 
	 

Signature Page to Fifth Supplemental Indenture

 

 

	 	 	 	 	 
	 	THE BANK OF NEW YORK MELLON (as successor to JPMorgan Chase Bank, N.A.), as Trustee

 	 
	 	By:  	/s/ Kimberly Agard	 
	 	 	Name:  	Kimberly Agard	 
	 	 	Title:  	Vice President	 
	 

Signature Page to Fifth Supplemental Indenture

 

 

SCHEDULE A

OTHER GUARANTORS

WILLIS INVESTMENT UK HOLDINGS LIMITED

TA I LIMITED

TA II LIMITED

TA III LIMITED

TRINITY ACQUISITION PLC

TA IV LIMITED

WILLIS GROUP LIMITED

A-1

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