Document:

Exhibit 4.2

 

ORIGINAL

 

DEED OF AMENDMENT

 

to

 

THE SAPPI LIMITED SHARE
INCENTIVE SCHEME

 

between

 

SAPPI LIMITED

 

and

 

DAVID CHARLES BRINK

 

and

 

THOMAS LOUW DE BEER

 

WERKSMANS

A    T     T     O     R     N    E
   Y    S

 

 

Johannesburg

 

 

TABLE OF CONTENTS

 

	
  1

  	
  INTRODUCTION

  	
  1

  
	
   

  	
   

  	
   

  
	
  2

  	
  AMENDMENT

  	
  2

  
	
   

  	
   

  	
   

  
	
  3

  	
  GENERAL

  	
  2

  

 

 

DEED OF AMENDMENT

 

to

 

THE SAPPI LIMITED SHARE INCENTIVE
SCHEME

(“the scheme”)

 

between

 

SAPPI LIMITED

(Registration No 05 /08963/06)

(“the company”)

of the first part

 

and

 

DAVID CHARLES BRINK

 

and

 

THOMAS LOUW DE BEER

(In their capacities as trustees
of The Sappi Limited Share Incentive Trust)

(“the trustees”)

Of the second part

 

	
  1

  	
   

  	
  INTRODUCTION

  
	
   

  	
   

  	
   

  
	
  1.1

  	
   

  	
  On
  5 March 1997, the trust deed (“the deed”) constituting the scheme was
  adopted by the company.

  
	
   

  	
   

  	
   

  
	
  1.2

  	
   

  	
  Clause
  30 of the deed provides that it shall be competent for the board of directors
  of the company (“the board”) and the trustees to amend the scheme subject to
  the prior approval of the Johannesburg Stock Exchange (“JSE”); provided that
  amendments affecting certain

  

 

1

 

	
   

  	
   

  	
  matters
  shall not be competent unless sanctioned by the company in general meeting.

  
	
   

  	
   

  	
   

  
	
  1.3

  	
   

  	
  The
  board and the trustees have agreed to amend the deed in the manner set out below.

  
	
   

  	
   

  	
   

  
	
  1.4

  	
   

  	
  It
  is recorded that —

  
	
   

  	
   

  	
   

  
	
  1.4.1

  	
   

  	
  this
  deed of amendment does not relate to any of the matters requiring the
  sanction of the company in general meeting which is, accordingly, not
  required; and

  
	
   

  	
   

  	
   

  
	
  1.4.2

  	
   

  	
  this
  deed of amendment has, or will shortly, be approved by the JSE.

  
	
   

  	
   

  	
   

  
	
  2.

  	
   

  	
  AMENDMENT

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  The
  deed is hereby amended by -

  
	
   

  	
   

  	
   

  
	
  2.1

  	
   

  	
  the
  deletion of the word “twenty” in clause 10.3.1 thereof and the substitution
  of the word “thirty” therefor;

  
	
   

  	
   

  	
   

  
	
  2.2

  	
   

  	
  the
  deletion of the number “21” in clauses 21.2, 22.2, 23.2, 24.2 and 25.2
  thereof and the substitution of the number “30” therefor.

  
	
   

  	
   

  	
   

  
	
  3.

  	
   

  	
  GENERAL

  
	
   

  	
   

  	
   

  
	
  3.1

  	
   

  	
  Unless
  the context clearly indicates a contrary intention, words and expressions in
  the deed shall bear the same meanings in this deed of amendment.

  
	
   

  	
   

  	
   

  
	
  3.2

  	
   

  	
  Save
  for the amendment in 2, the provisions of the deed shall remain unaltered and
  in full force and effect.

  

 

2

 

	
  3.3

  	
   

  	
  If
  there is any conflict between the provisions of the deed and this deed of
  amendment the provisions of this deed of amendment shall prevail.

  

 

	
  Signed
  at

  	
  Johannesburg

  	
  on

  	
  13th January 1998

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  for

  	
  Sappi
  Limited

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
    /s/
  E van As

  
	
   

  	
   

  	
   

  	
    who
  warrants that he is duly

    authorized hereto

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Signed
  at

  	
  Bedfordview

  	
  on

  	
  7th January 1998

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
    /s/
  D C Brink

  
	
   

  	
   

  	
   

  	
    David
  Charles Brink

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Signed
  at

  	
  Johannesburg

  	
  on

  	
  19th January 1998

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  /s/
  T L de Beer

  
	
   

  	
   

  	
   

  	
  Thomas
  Louw De Beer

  

 

3Exhibit 4.3

 

WERKSMANS
 ATTORNEYS

 

SECOND DEED OF AMENDMENT

 

 

to

 

 

THE SAPPI LIMITED SHARE INCENTIVE SCHEME

 

 

between

 

 

SAPPI LIMITED

 

 

and

 

 

DAVID CHARLES BRINK

 

 

and

 

 

THOMAS LOUW DE BEER

 

 

TABLE OF CONTENTS

 

	
  1

  	
  INTRODUCTION

  	
  1

  
	
   

  	
   

  	
   

  
	
  2

  	
  AMENDMENT

  	
  2

  
	
   

  	
   

  	
   

  
	
  3

  	
  GENERAL

  	
  3

  

 

 

SECOND DEED OF AMENDMENT

 

to

 

THE SAPPI LIMITED SHARE INCENTIVE SCHEME

(“scheme”)

 

between

 

SAPPI LIMITED

(Registration No 05/08963/06)

(“company”)

of the first part

 

and

 

DAVID CHARLES BRINK

 

and

 

THOMAS LOUW DE BEER

 

(in their capacities as trustees of The Sappi Limited Share Incentive
Trust) 

(“trustees”)

of the second part

 

	
  1

  	
   

  	
  INTRODUCTION

  
	
   

  	
   

  	
   

  
	
  1.1

  	
   

  	
  On
  5 March 1997, the trust deed (“deed”) constituting the scheme was
  adopted by the company.

  
	
   

  	
   

  	
   

  
	
  1.2

  	
   

  	
  The
  deed was amended by way of a deed of amendment dated 19 January 1998. The
  deed as amended by such amendment is referred to hereinafter as the “amended deed”.

  

 

 

	
  1.3

  	
   

  	
  Clause 30 of the amended
  deed provides that it shall be competent for the board of directors of the
  company (“board”) and the trustees to amend the scheme subject to the prior
  approval of the Johannesburg Stock Exchange (“JSE”) and of any other
  competent authority; provided that amendments affecting certain matters shall
  not be competent unless sanctioned by the company in general meeting.

  
	
   

  	
   

  	
   

  
	
  1.4

  	
   

  	
  The board and the trustees
  have agreed to amend the amended deed in the manner set out below.

  
	
   

  	
   

  	
   

  
	
  1.5

  	
   

  	
  It is recorded that -

  
	
   

  	
   

  	
   

  
	
  1.5.1

  	
   

  	
  this
  deed of amendment requires the sanction of the company in general meeting;
  and

  
	
   

  	
   

  	
   

  
	
  1.5.2

  	
   

  	
  this
  deed of amendment has, or will shortly, be approved by the JSE.

  
	
   

  	
   

  	
   

  
	
  2

  	
   

  	
  AMENDMENT

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  The amended deed is hereby
  amended, with effect from 3 December 1999, by the substitution of the -

  
	
   

  	
   

  	
   

  
	
  2.1

  	
   

  	
  word
  “tenth” where it appears in each of clauses 1.1.14, 11.2 and 20.2.6 thereof
  with the word “eighth”; 

  
	
   

  	
   

  	
   

  
	
  2.2

  	
   

  	
  word
  “ten” where it appears in each of clauses 1.1.15 and 20.2.4 thereof with the
  word “eight”;

  
	
   

  	
   

  	
   

  
	
  2.3

  	
   

  	
  words
  “be a multiple of 100 not exceeding 10 000 000 shares; provided that the said
  number shall be increased or reduced in direct proportion to the increase or
  reduction in the number of ordinary shares in the company’s issued share
  capital arising from any

  

 

2

 

	
   

  	
   

  	
  conversion,
  redemption, consolidation, sub-division, issue for cash, vendor placing,
  rights or capitalisation issue of shares in the capital of the company” in
  clause 8.2 thereof with the words “not exceed 7,5% of the company’s entire
  issued ordinary share capital from time to time”.

  
	
   

  	
   

  	
   

  
	
  3

  	
   

  	
  GENERAL

  
	
   

  	
   

  	
   

  
	
  3.1

  	
   

  	
  Unless
  the context clearly indicates a contrary intention, words and expressions in
  the amended deed shall bear the same meanings in this deed of amendment.

  
	
   

  	
   

  	
   

  
	
  3.2

  	
   

  	
  Save
  for the amendments in 2, the provisions of the amended deed shall remain
  unaltered and in full force and effect.

  
	
   

  	
   

  	
   

  
	
  3.3

  	
   

  	
  If
  there is any conflict between the provisions of the amended deed and this
  deed of amendment, the provisions of this deed of amendment shall prevail.

  

 

	
  Signed at

  	
  Johannesburg

  	
  on

  	
    2nd March 2000

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  for

  	
    Sappi Limited

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
    /s/  D G Wilson

  
	
   

  	
   

  	
   

  	
    who warrants
  that he is duly

    authorized hereto

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Signed at

  	
  Johannesburg

  	
  on

  	
    9th March 2000

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
    /s/  D C Brink

  
	
   

  	
   

  	
   

  	
    David Charles
  Brink

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Signed at

  	
  Johannesburg

  	
  on

  	
    9th March 2000

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
    /s/  T L 
  de Beer

  
	
   

  	
   

  	
   

  	
    Thomas Louw De
  Beer

  

 

3Exhibit 4.4

 

WERKSMANS
 ATTORNEYS

 

THIRD DEED OF AMENDMENT TO SAPPI LIMITED SHARE INCENTIVE SCHEME

 

 

between

 

 

SAPPI LIMITED

 

 

and

 

 

DAVID CHARLES BRINK

 

 

and

 

 

MEYER FELDBERG

 

 

TABLE OF CONTENTS

 

	
  1

  	
  INTRODUCTION

  	
  1

  
	
   

  	
   

  	
   

  
	
  2

  	
  AMENDMENT

  	
  2

  
	
   

  	
   

  	
   

  
	
  3

  	
  GENERAL

  	
  2

  

 

 

THIRD DEED OF AMENDMENT TO SAPPI LIMITED SHARE INCENTIVE SCHEME

 

between

 

SAPPI LIMITED

 

and

 

DAVID CHARLES BRINK

 

and

 

MEYER FELDBERG

 

	
  1

  	
   

  	
  INTRODUCTION

  
	
   

  	
   

  	
   

  
	
  1.1

  	
   

  	
  On 5 March 1997, the trust deed (“deed”)
  constituting the scheme was adopted by the company.

  
	
   

  	
   

  	
   

  
	
  1.2

  	
   

  	
  The deed was amended by way of -

  
	
   

  	
   

  	
   

  
	
  1.2.1

  	
   

  	
  a deed of amendment dated 19
  January 1998;

  
	
   

  	
   

  	
   

  
	
  1.2.2

  	
   

  	
  a deed of amendment dated 9
  March 2000.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  The deed as amended by such amendments is referred to herein as the “amended deed”.

  
	
   

  	
   

  	
   

  
	
  1.3

  	
   

  	
  Clause 30 of the amended deed provides that it shall be competent for
  the board of the directors of the company (“board”)
  and the trustees to amend the scheme subject to the prior approval of the
  Johannesburg Securities Exchange South Africa (“JSE”)
  and of any other competent authority; provided that the amendments affecting
  certain matters shall not be competent unless sanctioned by the company in
  general meeting.

  

 

1

 

	
  1.4

  	
   

  	
  The board and the trustees have agreed to amend the amended deed in
  the manner set out below.

  
	
   

  	
   

  	
   

  
	
  1.5

  	
   

  	
  It is recorded that this deed of amendment has, or will shortly, be
  approved by the JSE and that it does not require the sanction of the company
  in general meeting.

  
	
   

  	
   

  	
   

  
	
  2

  	
   

  	
  AMENDMENT

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  The amended deed is hereby amended by -

  
	
   

  	
   

  	
   

  
	
  2.1

  	
   

  	
  the addition of the following new words
  after the words “mutatis mutandis” where they appear at the end of clause
  14.2 —

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  “; provided that the 30 day period for
  acceptance of offers in 10.3.1 may be extended by such period as the
  secretary of the company may from time to time determine is practicable for
  administrative purposes”;

  
	
   

  	
   

  	
   

  
	
  2.2

  	
   

  	
  the addition of the following new clause
  18.3 immediately after clause 18.2-

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  “18.3 Notwithstanding anything to the
  contrary contained in this deed, the board shall be entitled, in its
  discretion, to apply terms and conditions which are more favourable to a
  participant than those stipulated in18.2.”.

  
	
   

  	
   

  	
   

  
	
  3

  	
   

  	
  GENERAL

  
	
   

  	
   

  	
   

  
	
  3.1

  	
   

  	
  Unless the context clearly indicates the contrary intention, words
  and expressions in the amended deed shall bear the meanings in this deed of
  amendment.

  

 

2

 

	
  3.2

  	
   

  	
  Save for the amendments in 2, the provisions of the amended deed
  shall remain unaltered and in full force and effect.

  
	
   

  	
   

  	
   

  
	
  3.3

  	
   

  	
  If there is any conflict between the provisions of the amended deed
  in this deed of amendment, the provisions of this deed of amendment shall prevail.

  

 

	
  Signed
  at

  	
  Johannesburg

  	
  on

  	
  26th  November 2004

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  for

  	
  Sappi
  Limited

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  /s/  J C A Leslie

  
	
   

  	
   

  	
   

  	
  who
  warrants that he is duly authorized hereto

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Signed
  at

  	
  Sandton

  	
  on

  	
  10th December 2004

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  /s/  D C Brink

  
	
   

  	
   

  	
   

  	
  David
  Charles Brink

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Signed
  at

  	
  Johannesburg

  	
  on

  	
  26th  November 2004

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  /s/  M Feldberg

  
	
   

  	
   

  	
   

  	
  Meyer
  Feldberg

  

 

3

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