<PAGE> 1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 7)
ADVANCED LIGHTING TECHNOLOGIES, INC.
-----------------------------------------------
(Name of Issuer)
COMMON STOCK, $.001 par value
-------------------------------------
(Title of Class of Securities)
00753C 10 2
----------------------
(CUSIP Number)
Gerald W. Cowden, Esq., 1414 Terminal Tower, Cleveland, Ohio 44113;
(216) 241-2880
--------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
October 8, 1998 *
-------------------------------
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box. |_|
*See Item 6 on Page 20.
<PAGE> 2
SCHEDULE 13D
- ----------------------------- --------------------------
CUSIP NO. 00753C 10 2 PAGE 2 OF 22
- ----------------------------- --------------------------
(AMENDMENT NO. 7)
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON S.S. OR I.R.S IDENTIFICATION NO. OF ABOVE
PERSON
Wayne R. Hellman
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X|
(b) |_|
Mr. Hellman affirms himself to be a member of a group only to the
extent that he is the Voting Trustee under a Voting Trust dated
October 10, 1995, as amended. Additionally, Mr. Hellman is the
holder of the Proxies (defined herein below).
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
Not Applicable.
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2 (e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 4,641,676
SHARES
BENEFICIALLY OWNED BY EACH ------------------------------------
REPORTING 8 SHARED VOTING POWER
PERSON 0
WITH
------------------------------------
9 SOLE DISPOSITIVE POWER
1,928,070
-------------------------------------
10 SHARED DISPOSITIVE POWER
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,641,676
- -------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES |X|
Mr. Hellman disclaims beneficial ownership of 50,000 shares which
are owned by Hellman Foundation, of which Mr. Hellman is the
trustee. Mr. Hellman also disclaims beneficial ownership of
125,000 shares which are owned by Hellman, Ltd., an Ohio limited
liability company, of which Mr. Hellman is the manager. Mr.
Hellman also disclaims beneficial ownership of 32,611 shares
which are owned by his wife, Diane Hellman.
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
22.9%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- -------------------------------------------------------------------------------
<PAGE> 3
SCHEDULE 13D
- ---------------------------- ------------------------------
CUSIP NO. 00753C 10 2 PAGE 3 OF 22
- ---------------------------- ------------------------------
(AMENDMENT NO. 7)
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON S.S. OR I.R.S IDENTIFICATION NO. OF ABOVE
PERSON
David L. Jennings (as a member of the Voting Trust Group)
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X|
(b) |_|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
Not Applicable
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2 (e) |_|
Not Applicable
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES ------------------------------------
BENEFICIALLY OWNED BY EACH 8 SHARED VOTING POWER
REPORTING 0
PERSON
WITH ------------------------------------
9 SOLE DISPOSITIVE POWER
546,444
------------------------------------
10 SHARED DISPOSITIVE POWER
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
546,444
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.7%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
<PAGE> 4
SCHEDULE 13D
- ------------------------------ ---------------------------
CUSIP NO. 00753C 10 2 PAGE 4 OF 22
- ------------------------------ ----------------------------
(AMENDMENT NO. 7)
- -------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON S.S. OR I.R.S IDENTIFICATION NO. OF ABOVE
PERSON
Louis S. Fisi (as a member of the Voting Trust Group)
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X|
(b) |_|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
Not Applicable
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2 (e) |_|
Not Applicable
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES ------------------------------------
BENEFICIALLY OWNED BY EACH 8 SHARED VOTING POWER
REPORTING 0
PERSON
WITH ------------------------------------
9 SOLE DISPOSITIVE POWER
420,917
------------------------------------
10 SHARED DISPOSITIVE POWER
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
420,917
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES |X|
Mr. Fisi disclaims beneficial ownership of 20,000 shares owned by
his adult child.
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.1%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
<PAGE> 5
SCHEDULE 13D
- ----------------------------- ------------------------
CUSIP NO. 00753C 10 2 PAGE 5 OF 22
- ----------------------------- ------------------------
(AMENDMENT NO. 7)
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON S.S. OR I.R.S IDENTIFICATION NO. OF ABOVE
PERSON
Robert S. Roller (as a member of the Voting Trust Group)
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X|
(b) |_|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
Not Applicable
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2 (e) |_|
Not Applicable
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 26,000
SHARES ---------------------------------------------
BENEFICIALLY OWNED BY EACH 8 SHARED VOTING POWER
REPORTING 0
PERSON
WITH ---------------------------------------------
9 SOLE DISPOSITIVE POWER
280,398
---------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
280,398
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES |_|
Mr. Roller disclaims beneficial ownership of 70,414 shares owned
by six trusts for the benefit of his children.
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.4%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
<PAGE> 6
SCHEDULE 13D
- ------------------------------ -------------------------
CUSIP NO. 00753C 10 2 PAGE 6 OF 22
- ------------------------------ -------------------------
(AMENDMENT NO. 7)
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON S.S. OR I.R.S IDENTIFICATION NO. OF ABOVE
PERSON
Juris Sulcs (as a member of the Voting Trust Group)
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X|
(b) |_|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
Not Applicable
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2 (e) |_|
Not Applicable
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 20,000
SHARES ---------------------------------------------
BENEFICIALLY OWNED BY EACH 8 SHARED VOTING POWER
REPORTING 0
PERSON
WITH ---------------------------------------------
9 SOLE DISPOSITIVE POWER
357,027
---------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
357,027
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.8%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
<PAGE> 7
SCHEDULE 13D
- ------------------------------ ------------------------
CUSIP NO. 00753C 10 2 PAGE 7 OF 22
- ------------------------------ ------------------------
(AMENDMENT NO. 7)
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON S.S. OR I.R.S IDENTIFICATION NO. OF ABOVE
PERSON
The Estate of James F. Sarver (as a member of the Voting Trust
Group)
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X|
(b) |_|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
Not Applicable
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2 (e) |_|
Not Applicable
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES -------------------------------------------------
BENEFICIALLY OWNED BY EACH 8 SHARED VOTING POWER
REPORTING 0
PERSON
WITH -------------------------------------------------
9 SOLE DISPOSITIVE POWER
268,917
-------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
268,917
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.3%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
- --------------------------------------------------------------------------------
<PAGE> 8
SCHEDULE 13D
- ----------------------------- -------------------------
CUSIP NO. 00753C 10 2 PAGE 8 OF 22
- ----------------------------- -------------------------
(AMENDMENT NO. 7)
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON S.S. OR I.R.S IDENTIFICATION NO. OF ABOVE
PERSON
Christine Hellman (as a member of the Voting Trust Group)
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X|
(b) |_|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
Not Applicable
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2 (e) |_|
Not Applicable
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
SHARES 10,000
BENEFICIALLY OWNED BY EACH --------------------------------------------------
REPORTING 8 SHARED VOTING POWER
PERSON
WITH 0
--------------------------------------------------
9 SOLE DISPOSITIVE POWER
316,377
--------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
316,377
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.6%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
<PAGE> 9
SCHEDULE 13D
- ----------------------------- --------------------------
CUSIP NO. 00753C 10 2 PAGE 9 OF 22
- ----------------------------- --------------------------
(AMENDMENT NO. 7)
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON S.S. OR I.R.S IDENTIFICATION NO. OF ABOVE
PERSON
Brian A. Hellman (as a member of the Voting Trust Group)
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X|
(b) |_|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
Not Applicable
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2 (e) |_|
Not Applicable
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 17,100
SHARES
BENEFICIALLY OWNED BY EACH ---------------------------------------------
REPORTING 8 SHARED VOTING POWER
PERSON 0
WITH
---------------------------------------------
9 SOLE DISPOSITIVE POWER
172,362
---------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY
172,362
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
.8%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
<PAGE> 10
SCHEDULE 13D
- ---------------------------- ----------------------------
CUSIP NO. 00753C 10 2 PAGE 10 OF 22
- ---------------------------- ----------------------------
(AMENDMENT NO. 7)
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON S.S. OR I.R.S IDENTIFICATION NO. OF ABOVE
PERSON
Lisa B. Hellman (as a member of the Voting Trust Group)
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X|
(b) |_|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
Not Applicable
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2 (e) |_|
Not Applicable
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 375
SHARES ------------------------------------------------
BENEFICIALLY OWNED BY EACH 8 SHARED VOTING POWER
REPORTING 0
PERSON
WITH ------------------------------------------------
9 SOLE DISPOSITIVE POWER
146,614
------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
146,614
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
.7%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
<PAGE> 11
SCHEDULE 13D
- ----------------------------- --------------------------
CUSIP NO. 00753C 10 2 PAGE 11 OF 22
- ----------------------------- --------------------------
(AMENDMENT NO. 7)
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON S.S. OR I.R.S IDENTIFICATION NO. OF ABOVE
PERSON
Robert S. Roller and Patricia M. Roller, Co-Trustees of the Lisa
Marie Roller Trust dated August 24, 1995 (as a member of the
Voting Trust Group)
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X|
(b) |_|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
Not Applicable
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2 (e) |_|
Not Applicable
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES ------------------------------------------------
BENEFICIALLY OWNED BY EACH 8 SHARED VOTING POWER
REPORTING 0
PERSON
WITH ------------------------------------------------
9 SOLE DISPOSITIVE POWER
4,708
------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,708
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.0%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
- --------------------------------------------------------------------------------
<PAGE> 12
SCHEDULE 13D
- ------------------------------- --------------------------------
CUSIP NO. 00753C 10 2 PAGE 12 OF 22
- ------------------------------- --------------------------------
(AMENDMENT NO. 7)
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON S.S. OR I.R.S IDENTIFICATION NO. OF ABOVE
PERSON
Robert S. Roller and Patricia M. Roller, Co-Trustees of the
Jennifer Lynn Jarrett Trust dated August 24, 1995 (as a member of
the Voting Trust Group)
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X|
(b) |_|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
Not Applicable
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2 (e) |_|
Not Applicable
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES ----------------------------------------------
BENEFICIALLY OWNED BY EACH 8 SHARED VOTING POWER
REPORTING 0
PERSON
WITH ----------------------------------------------
9 SOLE DISPOSITIVE POWER
4,208
----------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,208
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.0%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
- --------------------------------------------------------------------------------
<PAGE> 13
SCHEDULE 13D
- ------------------------------ -----------------------------
CUSIP NO. 00753C 10 2 PAGE 13 OF 22
- ------------------------------ -----------------------------
(AMENDMENT NO. 7)
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON S.S. OR I.R.S IDENTIFICATION NO. OF ABOVE
PERSON
Robert S. Roller and Patricia M. Roller, Co-Trustees of the
Kimberly Joy Roller Trust dated August 24, 1995 (as a member of
the Voting Trust Group)
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X|
(b) |_|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
Not Applicable
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2 (e) |_|
Not Applicable
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES ---------------------------------------------------
BENEFICIALLY OWNED BY EACH 8 SHARED VOTING POWER
REPORTING 0
PERSON
WITH ---------------------------------------------------
9 SOLE DISPOSITIVE POWER
9,708
---------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9,708
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.0%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
- --------------------------------------------------------------------------------
<PAGE> 14
SCHEDULE 13D
- ---------------------------- -----------------------
CUSIP NO. 00753C 10 2 PAGE 14 OF 22
- ---------------------------- -----------------------
(AMENDMENT NO. 7)
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON S.S. OR I.R.S IDENTIFICATION NO. OF ABOVE
PERSON
Robert S. Roller, Patricia M. Roller and Lisa Marie Roller,
Co-Trustees of the Lisa Marie Roller Long-term Trust dated
September 24, 1995 (as a member of the Voting Trust Group)
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X|
(b) |_|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
Not Applicable
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2 (e) |_|
Not Applicable
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES
BENEFICIALLY OWNED BY EACH --------------------------------------------------
REPORTING 8 SHARED VOTING POWER
PERSON 0
WITH
--------------------------------------------------
9 SOLE DISPOSITIVE POWER
17,261
--------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
17,261
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.0%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
- --------------------------------------------------------------------------------
<PAGE> 15
SCHEDULE 13D
- ------------------------------ ------------------------------
CUSIP NO. 00753C 10 2 PAGE 15 OF 22
- ------------------------------ ------------------------------
(AMENDMENT NO. 7)
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON S.S. OR I.R.S IDENTIFICATION NO. OF ABOVE
PERSON
Robert S. Roller, Patricia M. Roller and Jennifer Lynn Jarrett,
Co-Trustees of the Jennifer Lynn Jarrett Long-term Trust dated
September 24, 1995 (as a member of the Voting Trust Group)
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X|
(b) |_|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
Not Applicable
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2 (e) |_|
Not Applicable
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES ------------------------------------------------
BENEFICIALLY OWNED BY EACH 8 SHARED VOTING POWER
REPORTING 0
PERSON
WITH ------------------------------------------------
9 SOLE DISPOSITIVE POWER
17,261
------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
17,261
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.0%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
- --------------------------------------------------------------------------------
<PAGE> 16
SCHEDULE 13D
- ------------------------------- --------------------------------
CUSIP NO. 00753C 10 2 PAGE 16 OF 22
- ------------------------------- --------------------------------
(AMENDMENT NO. 7)
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON S.S. OR I.R.S IDENTIFICATION NO. OF ABOVE
PERSON
Robert S. Roller, Patricia M. Roller and Kimberly Joy Roller,
Co-Trustees of the Kimberly Joy Roller Long-term Trust dated
September 24, 1995 (as a member of the Voting Trust Group)
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X|
(b) |_|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
Not Applicable
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2 (e) |_|
Not Applicable
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES -------------------------------------------------
BENEFICIALLY OWNED BY EACH 8 SHARED VOTING POWER
REPORTING 0
PERSON
WITH -------------------------------------------------
9 SOLE DISPOSITIVE POWER
17,268
-------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
17,268
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.0%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
- --------------------------------------------------------------------------------
<PAGE> 17
CUSIP NO. 00753C 10 2 PAGE 17 OF 22
AMENDMENT NO. 7
SCHEDULE 13D
ITEM SECURITY AND ISSUER
The class of securities to which this statement relates is Common
Stock, par value $.001 (the "Common Stock"). The name and address of the
principal executive office of the issuer is Advanced Lighting Technologies, Inc.
(the "Company"), 32000 Aurora Road, Solon, Ohio 44139.
ITEM 2. IDENTITY AND BACKGROUND
a. The names of the persons filing this statement are Wayne R.
Hellman ("Hellman"), and Hellman as Voting Trustee and as owners
of Common Stock subject to the Voting Trust Agreement dated
October 10, 1995 (the "Voting Trust") the following members of
the Voting Trust Group: the Estate of James F. Sarver
("Sarver"); Christine Hellman; Lisa B. Hellman; Robert S. Roller
and Patricia M. Roller, Co-Trustees of the Lisa Marie Roller
Trust dated August 24, 1995 ("LMR Trust"); Robert S. Roller and
Patricia M. Roller, Co-Trustees of the Jennifer Lynn Jarrett
Trust dated August 24, 1995 ("JLJ Trust"); Robert S. Roller and
Patricia M. Roller, Co-Trustees of the Kimberly Joy Roller Trust
dated August 24, 1995 ("KJR Trust"); Robert S. Roller, Patricia
M. Roller and Lisa Marie Roller, Co- Trustees of the Lisa Marie
Roller Long Term Trust dated September 24, 1995 ("LMR Long Term
Trust"); Robert S. Roller, Patricia M. Roller and Jennifer Lynn
Jarrett, Co-Trustees of the Jennifer Lynn Jarrett Long Term
Trust dated September 24, 1995 ("JLJ Long Term Trust"); and
Robert S. Roller, Patricia M. Roller and Kimberly Joy Roller,
Co-Trustees of the Kimberly Joy Roller Long Term Trust dated
September 24, 195 ("KJR Long Term Trust"); additionally, the
Common Stock owned by David L. Jennings, ("Jennings") Louis S.
Fisi ("Fisi"), Robert S. Roller ("Roller"), Juris Sulcs
("Sulcs") and Brian A. Hellman, which was formerly subject to
the Voting Trust, are now subject to Irrevocable Proxies (the
"Proxies"), which appoint Wayne R. Hellman, as proxy holder, to
exercise the voting rights of all such shares with respect to
each matter submitted to the Company's shareholders for their
vote. The record owner of the shares subject to the Voting Trust
and the Proxies are sometimes referred to herein as a Member of
the "Voting Trust Group."
b. The business address of Hellman, Fisi, Roller, Sulcs, Lisa B.
Hellman and Brian Hellman is 32000 Aurora Road, Solon, Ohio
44139. The business address of Jennings is 3914 Deerpath,
Sandusky, Ohio 44870. The address of Christine Hellman is 17230
Red Fox Trail, Chagrin Falls, Ohio 44023. The address of the
LMR Trust, JLJ Trust, KJR Trust, LMR Long Term Trust, JLJ Long
Term Trust, and KJR Long Term Trust is 8630 Tamarack Trail,
Chagrin Falls, Ohio 44023. The address of Sarver is c/o
National City Bank, Trustee, Trust Probate Division, P.O. Box
5756, Cleveland, Ohio 44101.
c. The following are the present principal occupations and
addresses of employment of the reporting persons:
<PAGE> 18
CUSIP NO. 00753C 10 2 PAGE 18 OF 22
<TABLE>
<CAPTION>
Name: Occupation: Address:
- ----- ----------- --------
<S> <C> <C>
Hellman Chief Executive Officer Issuer (address is specified in Item 1)
Members of the Voting Trust Group:
Jennings Investor 3914 Deerpath
Sandusky, Ohio 44870
Fisi Executive Vice President, Issuer (address is specified in Item 1)
Secretary
Roller Coordinator of Market Venture Lighting International, Inc.
Development (address is specified in Item 1)
Sulcs Coordinator of Technology Venture Lighting International, Inc.
Development (address is specified in Item 1)
Estate of Sarver Not Applicable c/o National City Bank, Trustee
Trust Probate Division
P.O. Box 5756
Cleveland, Ohio 44101
Christine Hellman Consultant 17230 Red Fox Trail
Chagrin Falls, Ohio 44022
Brian A. Hellman Strategic Planning Issuer (address is specified in Item 1)
Manager
Lisa B. Hellman Vice President of Metal Halide Technologies, Inc.
Metal Halide Technologies, Inc. (address is specified in Item 1)
LMR Trust Not Applicable 8630 Tamarack Trail
Chagrin Falls, Ohio 44023
JLJ Trust Not Applicable 8630 Tamarack Trail
Chagrin Falls, Ohio 44023
KJR Trust Not Applicable 8630 Tamarack Trail
Chagrin Falls, Ohio 44023
LMR Long Term Trust Not Applicable 8630 Tamarack Trail
Chagrin Falls, Ohio 44023
JLJ Long Term Trust Not Applicable 8630 Tamarack Trail
Chagrin Falls, Ohio 44023
KJR Long Term Trust Not Applicable 8630 Tamarack Trail
Chagrin Falls, Ohio 44023
</TABLE>
<PAGE> 19
CUSIP NO. 00753C 10 2 PAGE 19 OF 22
d. No change is being reported.
e. No change is being reported.
f. No change is being reported.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
Amendment No. 7 reports a change of contractual obligations for Mr.
Hellman. See Item 6 below. Also, Amendment No. 7 reports an increase in the
number of shares of Common Stock beneficially owned.
ITEM 4. PURPOSE OF TRANSACTION
No change is being reported.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
a. and b. The following lists the aggregate number and percentage of
shares of Common Stock beneficially owned by the named persons. Percentages are
calculated based on the number of outstanding shares as of September 28, 1998:
<TABLE>
<CAPTION>
#Shares
Aggregate # # Shares #Shares Right to # Shares Sole # Shares Sole
Name Shares Owned % Owned Disposed Acquired Acquire Power to Vote Power to Dispose
- ---- ------------ ------- -------- -------- ------- ------------- ----------------
<S> <C> <C> <C> <C> <C> <C> <C>
Hellman (2) 4,641,676 22.9% 0 0 0 4,641,676 1,928,070
Jennings (1) 546,444 2.7% 0 0 0 0 546,444
Fisi (1) 420,917 2.1% 0 0 0 0 420,917
Estate of Sarver (1) 268,917 1.3% 0 0 0 0 268,917
Sulcs (1) 357,027 1.8% 0 0 0 20,000 357,027
Roller (1)(3) 280,398 1.4% 0 0 0 26,000 280,398
Christine Hellman (1) 316,377 1.6% 0 0 0 10,000 316,377
Brian Hellman (1)(4) 172,362 .8% 0 0 7,100 17,100 172,362
Lisa Hellman (1) 146,614 .7% 0 0 375 375 146,614
LMR Trust (1) 4,708 0.0% 0 0 0 0 4,708
JLJ Trust (1) 4,208 0.0% 0 0 0 0 4,208
KJR Trust (1) 9,708 0.0% 0 0 0 0 9,708
</TABLE>
<PAGE> 20
CUSIP NO. 00753C 10 2 PAGE 20 OF 22
<TABLE>
<S> <C> <C> <C> <C> <C> <C> <C>
LMR Long
Term Trust (1) 17,261 0.0% 0 0 0 0 17,261
JLJ Long
Term Trust (1) 17,261 0.0% 0 0 0 0 17,261
KJR Long
Term Trust (1) 17,268 0.0% 0 0 0 0 17,268
<FN>
(1) These persons constitute members of a group as a result of
their transfer of such shares to the Voting Trust or the
Irrevocable Proxy, as the case may be (see Item 2 hereof).
(2) Wayne Hellman beneficially owns 1,928,070 shares in his
individual capacity.
(3) Roller beneficially owns 26,000 shares which are not subject
to the voting trust.
(4) Brian Hellman beneficially owns 17,100 shares which are not
subject to the Irrevocable Proxy.
</TABLE>
None of the above persons share voting power with respect to any
shares.
d. No change is being reported.
e. No change is being reported.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE ISSUER
Pursuant to a loan agreement dated October 8, 1998 between the
Company and Mr. Hellman, its Chairman and Chief Executive Officer (the "Hellman
Loan Agreement"), the Company has loaned $9 million to Mr. Hellman for a
one-year term at the rate of 8%. The Hellman Loan Agreement was made following
approval by the Company's Board of Directors (Messrs. Hellman and Fisi did not
participate in the deliberations). The proceeds of the loan were used to reduce
the outstanding principal balance of a loan from Prudential Securities
Incorporated ("PSI"), which is secured by 2,053,070 shares of the Company Common
Stock owned by Mr. Hellman and Hellman, Ltd. (The "Hellman Personal Shares"). In
connection with the loan, the Board asked for and received Mr. Hellman's
agreement to extend the term of his employment agreement to December 31, 2003.
The Hellman Loan Agreement prohibits Mr. Hellman from encumbering the Hellman
Personal Shares in any manner except pursuant to existing agreements governing
Mr. Hellman's margin account at PSI, without consent of the Board's
representative. The loan is partially secured by certain real estate owned by
Mr. Hellman.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
1. The form of the Voting Trust Agreement, as amended, and the
form of the Irrevocable Proxy are hereby incorporated by reference from the
Amendment No. 2 to Schedule 13D filed via EDGAR on June 24, 1996.
2. The form of the Loan Agreement by and between Advanced
Lighting Technologies, Inc. and Wayne R. Hellman in the principal amount of
$9,000,000 and dated as of October 8, 1998
<PAGE> 21
CUSIP NO. 00753C 10 2 PAGE 21 OF 22
SIGNATURES
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this Schedule 13D statement
is true, complete and correct.
Date: October 23, 1998 /s/ Wayne R. Hellman
--------------------------------------
WAYNE R. HELLMAN*
Date: October 21, 1998 /s/ David L. Jennings
--------------------------------------
DAVID L. JENNINGS**
Date: October 23, 1998 /s/ Louis S. Fisi
--------------------------------------
LOUIS S. FISI**
Date: October 19, 1998 /s/ Robert S. Roller
--------------------------------------
ROBERT S. ROLLER**
Date: October 19, 1998 /s/ Juris Sulcs
--------------------------------------
JURIS SULCS**
Date: October 19, 1998 /s/ Christine Hellman
--------------------------------------
CHRISTINE HELLMAN**
Date: October 23, 1998 /s/ Brian A. Hellman
--------------------------------------
BRIAN A. HELLMAN**
Date: October 23, 1998 /s/ Lisa B. Hellman
--------------------------------------
LISA B. HELLMAN**
Date: October 23, 1998 /s/ David A. Kemme
--------------------------------------
By: DAVID A. KEMME, Vice President
-----------------------------------
ON BEHALF OF THE ESTATE
OF JAMES F. SARVER**
(Signatures continued on following page.)
____________________
* Member of Voting Trust Group only as to certain shares of which Hellman is
voting trustee.
** Member of the Voting Trust Group.
<PAGE> 22
CUSIP NO. 00753C 10 2 PAGE 22 OF 22
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this Schedule 13D statement is true,
complete and correct.
Date: October 19, 1998 /s/ Robert S. Roller
-----------------------------------------------
ROBERT S. ROLLER AS CO-TRUSTEE OF THE LISA MARIE
ROLLER TRUST DATED AUGUST 24, 1995**
Date: October 19, 1998 /s/ Robert S. Roller
-----------------------------------------------
ROBERT S. ROLLER AS CO-TRUSTEE OF THE JENNIFER
LYNN JARRETT TRUST DATED AUGUST 24, 1995**
Date: October 19, 1998 /s/ Robert S. Roller
-----------------------------------------------
ROBERT S. ROLLER AS CO-TRUSTEE OF THE KIMBERLY
JOY ROLLER TRUST DATED AUGUST 24, 1995**
Date: October 19, 1998 /s/ Robert S. Roller
-----------------------------------------------
ROBERT S. ROLLER CO-TRUST FOR THE LISA MARIE
ROLLER LONG TERM TRUST DATED SEPTEMBER 24,
1995**
Date: October 19, 1998 /s/ Robert S. Roller
-----------------------------------------------
ROBERT S. ROLLER, CO-TRUSTEE FOR THE JENNIFER
LYNN JARRETT LONG TERM TRUST DATED SEPTEMBER
24, 1995**
Date: October 19, 1998 /s/ Robert S. Roller
-----------------------------------------------
ROBERT S. ROLLER, CO-TRUSTEE OF THE
KIMBERLY JOY ROLLER LONG TERM TRUST DATED
SEPTEMBER 24, 1995**
* Member of Voting Trust Group only as to certain shares of which Hellman is
voting trustee.
** Member of the Voting Trust Group.
<PAGE> 1
LOAN AGREEMENT
THIS LOAN AGREEMENT (this "Agreement") is made and entered into as of
October 8, 1998, by and between ADVANCED LIGHTING TECHNOLOGIES, INC., an Ohio
corporation with its offices at 2307 East Aurora Road, Suite One, Twinsburg,
Ohio 44087 ("Lender") and WAYNE R. HELLMAN, an individual residing at 7181 Ober
Lane, Chagrin Falls, Ohio 44023 ("Borrower").
BACKGROUND
A. Borrower is the Chief Executive Officer and Chairman of Lender.
B. Borrower owns approximately ten percent (10%) of Lender's issued
and outstanding capital stock (the "Margin Shares").
C. The Margin Shares are pledged as collateral to Prudential
Securities Incorporated (the "Margin Lender") to secure a loan from the Margin
Lender which as of October 6, 1998 is in the amount of Fifteen Million Forty
Nine Thousand One Hundred Ninety Five Dollars ($15,049,195) (the "Margin
Loan").
D. Pursuant to Borrower's agreement with the Margin Lender, at October
6, 1998 the Margin Loan was under collateralized by Eight Million Three Hundred
Twenty Seven Thousand Three Hundred Thirteen Dollars ($8,327,313) (the "Margin
Deficit").
E. The Margin Loan must be reduced by the Margin Deficit in order to
prevent the Margin Lender from liquidating the Margin Shares.
F. Upon reports from its advisors and after discussion, Lender's
disinterested directors have determined that it is in the best interests of
Lender to prevent the liquidation of the Margin Shares in order to avoid the
adverse effect on Lender's stock price that is likely to result from the sale
of the Margin Shares in the market, and to avoid causing Borrower serious
financial stress which would adversely affect the operation and management of
Lender.
<PAGE> 2
AGREEMENT
NOW, THEREFORE, in consideration of the foregoing, the agreements made
herein, and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, Lender and Borrower agree as
follows:
ARTICLE I
DEFINITIONS
SECTION 1.1. USE OF DEFINED TERMS. In addition to the words and terms
defined elsewhere in this Agreement or by reference to the Security Documents
or other instruments, the words and terms set forth in Section 1.2 shall have
the meanings therein set forth unless the context or use expressly indicates
different meaning or intent. Such definitions shall be equally applicable to
both the singular and plural forms, and the masculine, feminine and neuter
forms of any of the words and terms therein defined.
SECTION 1.2. DEFINITIONS. As used herein:
"Affiliate" and "Associate" means those persons that are affiliates
and associates as defined in Rule 12b-2 of the General Rules and Regulations
under the Securities Exchange Act of 1934 as presently in effect.
"Agreement" means this Loan Agreement, as from time to time amended or
supplemented.
"Closing Date" means the date of execution and delivery of the Loan
Documents.
"Collateral" means the property identified in EXHIBIT 1.2-A, but
specifically excludes the Margin Shares.
"Event of Default" means any of the events described as an event of
default in Section 5.1 hereof.
"Loan" means the loan by Lender to Borrower in the total sum of the
Loan Amount, to be disbursed pursuant to Section 3.8 hereof.
"Loan Amount" means Nine Million Dollars ($9,000,000).
"Loan Documents" means this Agreement and all other agreements,
certificates, instruments and other documents required by Lender to evidence or
secure, or delivered in connection with the consummation of, the Loan, as such
documents may be amended or supplemented from time to time.
"Mortgage" means each Mortgage on the Realty (defined herein) dated as
of even date herewith from Borrower to Lender, as amended or supplemented from
time to time.
-2-
<PAGE> 3
"Note" means the Secured Promissory Note, as executed in the form
attached hereto as EXHIBIT 1.2-B, evidencing the obligation of Borrower to
repay the Loan and any replacement or substitute instrument.
"Note Payment" means all required payments under the Note.
"Notice Address" means as to Lender and Borrower, the addresses first
set forth at the beginning hereof, or such additional or different address,
notice of which is given under Section 6.2 hereof.
"Person" means an individual, a partnership, a corporation, a business
trust, a joint stock company, a trust, an unincorporated association, a joint
venture, a governmental authority or any other entity of whatever nature.
"Security Documents" means, collectively, the documents identified in
EXHIBIT 1.2-C.
"Title Company" means such title companies as utilized by Lender in
connection herewith.
"UCC Financing Statements" means all financing statements filed to
perfect the security interests created under the Security Documents.
ARTICLE II
REPRESENTATIONS
SECTION 2.1. REPRESENTATIONS WITH RESPECT TO BORROWER. Borrower
hereby represents and warrants that:
(a) Borrower is an individual residing at the Notice Address.
(b) Borrower has full power and authority to execute and deliver the
Loan Documents and to carry out the transactions contemplated thereunder. Such
execution, delivery and performance do not, and will not, violate any provision
of law applicable to Borrower, and do not, and will not, conflict with or
result in a default under any agreement or instrument to which Borrower is a
party or by which Borrower or any of his property or assets is or may be bound.
The Loan Documents have been duly executed and delivered by Borrower, and all
necessary actions have been taken to constitute the Loan Documents legal as
valid and binding obligations of Borrower in accordance with their respective
terms.
(c) The Loan is required to prevent forfeiture of the Margin Loan, and
the Margin Lender's execution on the Margin Shares.
(d) There are no actions, suits or proceedings pending or threatened
against or affecting Borrower or any of his property or assets which, if
adversely determined, would individually or in the aggregate materially impair
the ability of Borrower to perform any of his obligations under the Loan or
would adversely affect the financial condition of Borrower.
-3-
<PAGE> 4
(e) Except for the Margin Loan, Borrower is not in default under any
agreement with any Person, or in the payment of any indebtedness for borrowed
money or under any agreement or instrument evidencing any such indebtedness,
and no event has occurred which, by notice, the passage of time or otherwise,
would constitute any such default.
(f) Except as set forth in SCHEDULE 2.2(f), Borrower has made no
contract or arrangement of any kind, other than the Loan Documents, which has
given rise to, or the performance of which by the other party thereto would
give rise to, a lien or claim of lien on the Collateral.
(g) No representation or warranty of Borrower contained in any of the
Loan Documents, and no statement contained in any certificate, schedule, list,
financial statement or other instrument furnished by or on behalf of Borrower
to Lender contains any untrue statement of a material fact, or omits to state a
material fact necessary to make the statements contained herein or therein not
misleading.
(h) All proceeds of the Loan shall be used for the payment of the
Margin Deficit to the Margin Lender. No part of any such proceeds shall be paid
to or retained by Borrower.
(i) Except as disclosed in SCHEDULE 2.2(j), Borrower has good and
marketable title in fee simple to the Collateral, subject in all cases to no
lien, charge, easement, condition, restriction or encumbrance except as created
by the Loan Documents.
(j) To the knowledge of Borrower:
(A) the real property included in the Collateral (the
"Realty") does not currently contain and is not presently contaminated by any
hazardous substance, hazardous wastes, toxic substance or other material
substance or waste in violation of any environmental laws;
(B) (i) There are no visible signs of releases, spills,
discharges, leaks or disposal (collectively referred to as "Releases") of
hazardous substances at, upon, under or within the Realty; and (ii) there are
no underground storage tanks or polychlorinated biphenyls on the Realty;
(C) the Realty is not currently threatened by any activity
involving directly, or indirectly, the use, generation, treatment, storage or
disposal of any hazardous substance, hazardous wastes, toxic substance or other
material substance or waste, the exposure to which is prohibited, limited or
otherwise regulated by any environmental laws; and
(D) no "clean-up" of the Realty has occurred pursuant to any
applicable federal or state environmental laws.
(k) After giving effect to the transactions contemplated by the Loan
Documents, Borrower will be solvent, and able to pay his debts as they mature.
-4-
<PAGE> 5
(l) EXHIBIT 2.2-l sets forth all amounts currently owed by Borrower on
the Margin Loan, the current amount of the Margin Deficit, and the collateral
securing the Margin Loan, including the Margin Shares. Borrower has delivered
to Lender true and complete copies of all agreements, documents and other
instruments which relate in any way to the Margin Loan.
(m) Except as set forth in EXHIBIT 2.2-m, Borrower holds his property
in his own name, not in the name of any trusts, Associates or Affiliates.
All representations and warranties contained in, or made in connection with,
this Agreement and the other Loan Documents shall survive the Closing Date and
the disbursement of the Loan and shall not be limited or otherwise affected by
any and all inspections, investigations, reviews or other inquiries (including,
without limitation, any investigation or review contemplated in Section 3.3)
made or other actions taken by Lender or any of its agents, representatives and
designees or any other person assisting any of the foregoing or acting for or
on behalf of Lender in connection with the Loan Documents or the consummation
of the Loan.
ARTICLE III
LOAN; CONDITIONS TO CLOSING
SECTION 3.1. LOAN AND REPAYMENT. On the terms and conditions of this
Agreement, Lender shall lend to Borrower the Loan Amount for payment on the
Margin Loan. The Loan shall be evidenced by this Agreement and the Note and
secured by the Security Documents and other Loan Documents, as applicable.
Those instruments shall be executed and delivered by Borrower to Lender
concurrently (or after in Lender's discretion) with the execution and delivery
of this Agreement and the delivery of all other documents and the satisfaction
of all other closing conditions required by this Agreement. Arrangements
satisfactory to Lender for the filing and recording of the Security Documents
and other Loan Documents evidencing or securing the Loan, which are to be
recorded, shall be made, or such instruments may be filed for record prior to
or after the disbursement of the Loan, if deemed appropriate by Lender. The
Loan shall be disbursed on the Closing Date pursuant to Section 3.8 hereof upon
the satisfaction of the conditions set forth in Section 3.6 hereof.
The terms of repayment of the Loan shall be as set forth in the Note,
and Borrower shall make all payments required to be made under the Note as and
when due.
SECTION 3.2. INTENTIONALLY LEFT BLANK.
SECTION 3.3. INSPECTIONS. In connection with the consummation of the
Loan Lender may inspect or otherwise reviewing the Collateral or Borrower's
assets. No such inspection and review shall impose any responsibility or
liability of any nature upon Lender, its agents, representatives or designees
or, without limitation, carry any warranty or representation as to the
Collateral.
-5-
<PAGE> 6
SECTION 3.4. BORROWER REQUIRED TO PAY MARGIN CALLS. In the event that
the proceeds of the Loan are not sufficient to pay the Margin Deficit, or the
Margin Loan again becomes under collateralized, Borrower will, irrespective of
the cause of such deficiency, pay all margin calls on the Margin Loan in order
to prevent Margin Lender from executing on the Margin Shares.
SECTION 3.5. INTENTIONALLY LEFT BLANK.
SECTION 3.6. CONDITIONS TO DISBURSEMENT. The disbursement of the Loan
shall be made on the Closing Date, provided Lender shall have received the
following on or before the Closing Date (Lender may disburse the Loan prior to
receiving any of these items or the fulfillment of any condition hereof, or
prior to the attachment of any schedule or exhibit hereto, and in such event
Borrower shall promptly provide the required item, fulfill the condition and
deliver the required schedules and exhibits after the disbursement of the
Loan):
(a) the duly executed Note;
(b) the duly executed Security Documents;
(c) duly executed financing statements to evidence and perfect the
security interests created by the Security Documents and delivery of all
Collateral which is required to be possessed by Lender to perfect its security
interest therein;
(d) a paid American Land Title Association loan policy of title
insurance issued by the Title Company, in the Loan Amount, insuring Lender's
interest created by the Security Documents at the level of priority therein
stated to be a valid lien on the Realty (including all appurtenances thereto)
free and clear of all defects and encumbrances except as created by the Loan
Documents, or as disclosed in such policy, with such endorsements as Lender may
require, which policy shall contain:
(i) no survey exception not theretofore approved by Lender;
(ii) affirmative insurance coverage regarding access,
compliance with respect to restrictive covenants and any other matters to which
Lender may have objection or require affirmative insurance coverage;
(e) If the disbursement date differs from the Closing date, a
certificate of Borrower that his (i) representations and warranties made in the
Loan Documents remain true, accurate and complete as of the disbursement date,
and (ii) no default or event which, by notice, the passage of time or
otherwise, would constitute a default exists under any of the Loan Documents;
(f) an opinion of Borrower's counsel, in form satisfactory to Lender's
counsel;
(g) such other certifications, documents or opinions as Lender may
reasonably request; and
-6-
<PAGE> 7
(h) execution of the amendment to employment agreement provided for in
Section 4.1.
SECTION 3.7. INTENTIONALLY LEFT BLANK.
SECTION 3.8. DISBURSEMENT OF LOAN. Lender shall disburse the Loan by
delivering funds in the Loan Amount to the Margin Lender on the Closing Date
for application to the Margin Loan on Borrower's account.
SECTION 3.9. PAYMENT OF COSTS; INDEMNIFICATION . Borrower shall pay
all costs incident to the Loan, including recording and title fees, title
examination and insurance fees, escrow fees, all costs and expenses incurred by
Lender and the fees and expenses of the counsel, accountants and other
consultants, assisting in this matter at the request of Lender or its
representatives. Borrower shall defend, indemnify and hold Lender and its
directors, officers, and its and their attorneys harmless against any and all
loss, cost, expense, claims, damages or actions arising out of or connected
with the Loan, or execution and delivery of this Agreement or any other Loan
Documents and the preparation of documents relating to the disbursement of the
Loan. The provisions of this Section shall survive the termination of this
Agreement.
ARTICLE IV
ADDITIONAL COVENANTS AND AGREEMENTS
SECTION 4.1. EMPLOYMENT. Borrower and Lender hereby agree that the
term of Borrower's Employment Agreement with Lender will be extended to
December 31, 2003, and such agreement will be amended by separate agreement.
SECTION 4.2. AFFIRMATIVE COVENANTS OF BORROWER. Throughout the term
of this Agreement, Borrower shall:
(a) Taxes and Assessments. Pay and discharge promptly, when due and
payable, all taxes, assessments and governmental charges or levies imposed upon
him, his income or any of his property, or upon any part thereof, as well as
all claims of any kind which, if unpaid, might by law become a lien or charge
upon any of his property, other than taxes, assessments and claims being
contested in good faith by appropriate proceedings.
(b) Maintain Property. Maintain and keep the Collateral in good
repair, working order and condition, ordinary wear and tear excepted, and from
time to time make all repairs, renewals and replacements which are necessary
and proper in furtherance thereof.
(c) Maintain Insurance. Keep all of Borrower's insurable property
insured against loss or damage by fire and other risks, maintain public
liability insurance against claims for personal injury, death or property
damage suffered by others upon, in or about any and all premises owned or
occupied by Borrower; and maintain all insurance for which provision has been
made in this subsection (c) shall be maintained against such risks and in at
least such amounts as such insurance as required in the Security Documents, and
all insurance
-7-
<PAGE> 8
herein provided for shall be effected and maintained in force under a policy or
policies issued by insurers of recognized responsibility. Lender shall be named
as an additional insured and loss payee on all such insurance, and certificates
of insurance with such designations shall be provided to Lender and shall
provide that no insurance shall be canceled or reduced without providing Lender
with at least thirty (30) days prior notice.
(d) Furnish Information. Furnish to Lender such information on
Borrower and his assets and liabilities as Lender from time to time requests.
(e) Deliver Notice. Forthwith upon learning of any of the following,
deliver written notice thereof to Lender, describing the same and the steps
being taken by Borrower with respect thereto:
(i) the occurrence of an Event of Default or an event or
circumstance which would constitute an Event of Default, but for the
requirement that notice be given or time elapse or both, or
(ii) any action, suit or proceeding by or against Borrower at
law or in equity, or before any governmental instrumentality or agency,
instituted or threatened which, if adversely determined, would materially
impair the right or ability of Borrower to perform his obligations hereunder.
SECTION 4.3. ENVIRONMENTAL MATTERS. Throughout the term of this
Agreement, Borrower agrees that Borrower shall ensure that the Realty remains
in compliance with all environmental laws and will not place or permit to be
placed any hazardous or toxic substances or hazardous waste on the Realty.
SECTION 4.4. NEGATIVE COVENANTS OF BORROWER. Throughout the term of
this Agreement, Borrower agrees that he shall not:
(a) sell, transfer or otherwise dispose of any of the Collateral
without Lender's written consent;
(b) enter into any agreement containing any provision which would be
violated or breached by the performance of its obligations hereunder or under
any instrument or document delivered or to be delivered by it hereunder or in
connection herewith;
(c) pledge, assign, transfer, hypothecate or in any manner encumber
any of the Collateral; or
(d) pledge, assign, transfer, hypothecate or in any manner encumber
any of the Margin Stock, other than under the Margin Loan or with Lender's
written consent to satisfy the Loan.
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ARTICLE V
EVENTS OF DEFAULT AND REMEDIES; TERMINATION
SECTION 5.1. EVENTS OF DEFAULT. Each of the following shall be an
"Event of Default":
(a) Borrower shall fail to pay any amount payable under the Note or
pursuant to this Agreement, the Security Documents or any other Loan Document
on the date on which such payment is due and payable;
(b) Borrower shall fail to observe and perform any agreement, term or
condition contained in this Agreement, the Security Documents or any other Loan
Document and such failure continues uncured for a period of thirty (30) days
after written notice of such default, or for such longer period to which Lender
may agree in writing;
(c) Any representation or warranty made by Borrower herein or in any
other Loan Documents, or in connection herewith or therewith shall prove to
have been incorrect in any material respect when made;
(d) Borrower shall fail to pay any of his indebtedness for borrowed
money, or any interest or premium thereon, when due (whether by scheduled
maturity, required prepayment, by acceleration, on demand or otherwise) and
such failure shall continue after the applicable grace period, if any,
specified in the agreement or instrument relating to such indebtedness; or any
other default under any agreement or instrument relating to any such
indebtedness, or any other event, shall occur and shall continue after the
applicable grace period, if any, specified in such agreement or instrument, if
the effect of such default or event is to accelerate, or to permit the
acceleration of, the maturity of such indebtedness; or any such indebtedness
shall be declared to be due and payable, or required to be prepaid (other than
by a regularly scheduled required prepayment), prior to the stated maturity
thereof;
(e) Borrower commences a voluntary case concerning it under any title
of the United States Code entitled "Bankruptcy" as now or hereafter in effect,
or any successor thereto (the "Bankruptcy Code"); or an involuntary case is
commenced against Borrower under the Bankruptcy Code, and relief is ordered
against Borrower or the petition, though controverted, is not dismissed within
forty-five (45) days after the commencement of the case; or Borrower is not
generally paying its debts as such debts become due; or a custodian (as defined
in the Bankruptcy Code) is appointed for, or takes charge of, all or
substantially all of the property of Borrower; or Borrower commences any other
proceeding under any reorganization, arrangement, readjustment of debt, relief
of debtors, dissolution, insolvency or liquidation or similar law of any
jurisdiction, whether now or hereafter in effect, or there is commenced against
Borrower any such proceeding which remains undismissed for a period of sixty
(60) days; or Borrower is adjudicated insolvent or bankrupt; or Borrower fails
to controvert in a timely manner any such case under the Bankruptcy Code or any
such proceeding or any order of relief or other order approving any such case
or proceeding or in the appointment of any custodian or the like of or for it
or any substantial part of its property or suffers any such appointment to
continue undischarged or unstayed for a period of forty-five (45) days; or
Borrower makes a general
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assignment for the benefit of creditors; or any action is taken by Borrower for
the purpose of effecting any of the foregoing; or a receiver or trustee or any
other officer or representative of the court or of creditors, or any court,
governmental officer or agency, shall, under color of legal authority, take and
hold possession of any substantial part of the property or assets of Borrower
for a period in excess of forty-five days;
(f) A judgment or order for the payment of money in excess of Ten
Thousand Dollars ($10,000.00) shall be rendered against Borrower and either (i)
enforcement proceedings shall have been commenced by any creditor upon such
judgment or order or (ii) there shall be any period of thirty (30) consecutive
days during which a stay of enforcement of such judgment or order, by reason of
a pending appeal or otherwise, shall not be in effect; or
(g) Borrower transfers any of the Margin Stock without Lender's
written consent.
SECTION 5.2. REMEDIES ON DEFAULT. Whenever an Event of Default shall
have occurred and be subsisting, any one or more of the following remedial
steps may be taken:
(a) If the Loan has not been disbursed, Lender may terminate any and
all of its obligations under this Agreement;
(b) Lender may declare all payments under the Note to be immediately
due and payable, whereupon the same shall become immediately due and payable;
(c) Lender may posses the Collateral; and
(d) Lender may pursue all or any combination of the remedies specified
in this Agreement, the Security Documents, the Note or any other Loan Document,
or which now or hereafter exist in statute, at law or in equity, to collect all
amounts then due and thereafter to become due under this Agreement, the
Security Documents, the Note or any other Loan Document, or to enforce the
performance and observance of any other obligation or agreement of Borrower
under the Loan Documents.
SECTION 5.3. NO REMEDY EXCLUSIVE. No remedy conferred upon or
reserved to Lender by this Agreement is intended to be exclusive of any other
available remedy or remedies, but each and every such remedy shall be
cumulative and shall be in addition to every other remedy given under this
Agreement, each other Loan Document, or now or hereafter existing at law, in
equity or by statute. No delay or omission to exercise any right or power
accruing upon any default shall impair any such right or power or shall be
construed to be a waiver thereof, but any such right and power may be exercised
from time to time and as often as may be deemed expedient. In order to entitle
Lender to exercise any remedy reserved to it in this Article, it shall not be
necessary to give any notice, other than such notice as may be expressly
provided for herein or required by law.
SECTION 5.4. AGREEMENT TO PAY ATTORNEYS' FEES AND EXPENSES . If an
Event of Default shall occur and Lender should incur expenses, including
attorneys' fees, in connection with the enforcement of this Agreement or any
other Loan Document, or the collection of sums due thereunder, Borrower shall
reimburse Lender for the expenses so
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incurred upon demand. If any such expenses are not so reimbursed, the amount
thereof, together with interest thereon from the date of demand for payment at
the Interest Rate (as defined in the Security Documents), shall constitute
indebtedness secured by the Security Documents, and in any action brought to
collect such indebtedness or to foreclose or enforce the Security Documents,
Lender shall be entitled to seek the recovery of such expenses in such action.
SECTION 5.5. NO WAIVER. No failure by Lender to insist upon the
strict performance by Borrower of any provision hereof shall constitute a
waiver of his right to strict performance, and no express waiver shall be
deemed to apply to any other existing or subsequent right to enforce the
failure by Borrower to observe or comply with any provision hereof.
ARTICLE VI
MISCELLANEOUS
SECTION 6.1. TERM OF AGREEMENT. This Agreement shall be and remain in
full force and effect from the date of its delivery until (a) the termination
of this Agreement pursuant to the terms hereof or (b) such time as the Loan
shall have been fully and indefeasably repaid and all other sums payable by
Borrower under this Agreement, the Security Documents, the Note and the other
Loan Documents shall have been paid.
SECTION 6.2. NOTICES. All notices, certificates, requests or other
communications hereunder shall be in writing and shall be deemed to be
sufficiently given when mailed by registered or certified mail, postage
prepaid, and addressed to the appropriate Notice Address. Borrower or Lender
may, by notice given hereunder, designate any further or different addresses to
which subsequent notices, certificates, requests or other communications shall
be sent.
SECTION 6.3. EXTENT OF COVENANTS OF LENDER; NO PERSONAL LIABILITY.
All covenants, obligations and agreements of Lender contained in this Agreement
shall be effective only to the extent authorized and permitted by applicable
law. No such covenant, obligation or agreement shall be deemed to be a
covenant, obligation or agreement of any director, officer or agent of Lender,
and no such Person shall be personally liable or in any way personally
obligated by reason hereof.
SECTION 6.4. BINDING EFFECT. This Agreement shall inure to the
benefit of, and shall be binding in accordance with its terms upon, Lender and
its successors and assigns, and on Borrower and his heirs, estate, executors,
administrators and personal representatives.
SECTION 6.5. AMENDMENTS AND SUPPLEMENTS. This Agreement may not be
amended or supplemented except by an instrument in writing executed by Lender
and Borrower.
SECTION 6.6. EXECUTION COUNTERPARTS. This Agreement may be executed
in any number of counterparts, each of which shall be regarded as an original,
and all of which shall constitute but one and the same instrument.
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SECTION 6.7. SEVERABILITY. If any provision of this Agreement, or any
covenant, obligation or agreement contained herein is determined by a court to
be invalid or unenforceable, such determination shall not affect any other
provision, covenant, obligation or agreement, each of which shall be construed
and enforced as if such invalid or unenforceable portion were not contained
herein. Such invalidity or unenforceability shall not affect any valid and
enforceable application thereof, and each such provision, covenant, obligation
or agreement, shall be deemed to be effective, operative, made, entered into or
taken in the manner and to the full extent permitted by law.
SECTION 6.8. CAPTIONS. The captions and headings in this Agreement
shall be solely for convenience of reference and shall in no way define, limit
or describe the scope or intent of any provisions or Sections of this
Agreement.
SECTION 6.9. GOVERNING LAW. This Agreement shall be deemed to be a
contract made under the laws of the state of Ohio and for all purposes shall be
governed by and construed in accordance with the laws of Ohio without regard to
conflict of laws principals.
IN WITNESS WHEREOF, this Agreement has been executed and delivered all
as of the date hereinbefore written.
LENDER:
ADVANCED LIGHTING TECHNOLOGIES, INC.
By: ____________________________________
Its: ___________________________________
BORROWER:
________________________________________
Wayne R. Hellman
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