SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
------------
SCHEDULE 13G
(RULE 13D-102)
INFORMATION STATEMENT PURSUANT TO RULES 13D-1 AND 13D-2
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. ___________)*
ARQULE, INC.
(Name of Issuer)
COMMON
(Title of Class of Securities)
042 69E 107
(CUSIP Number)
*The remainder of this cover page shall be filled out for a
reporting person's initial filing on this form with respect to the subject class
of securities, and for any subsequent amendment containing information which
would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall
not be deemed to be "filed" for the purpose of Section 18 of the Securities
Exchange Act of 1934 or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, SEE
the NOTES).
Page 1 of 18 Pages
<PAGE>
- ---------------------------------- ----------------------------------
CUSIP NO. 042 69E 107 13G PAGE 2 OF 18 PAGES
- ----------------------------------- ----------------------------------
- -------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATIONS NOS. OF ABOVE PERSONS
Sevin Rosen Fund IV L.P.
75-2416757
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
- -------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- -------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF 810,174
SHARES -----------------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 4,295,500
EACH -----------------------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON WITH 810,174
-----------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
4,295,500
- -------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,105,674
- -------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* |_|
- -------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
53.88%
- -------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
- -------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 2 of 18 Pages
<PAGE>
- ---------------------------------- ----------------------------------
CUSIP NO. 042 69E 107 13G PAGE 3 OF 18 PAGES
- ----------------------------------- ----------------------------------
- -------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATIONS NOS. OF ABOVE PERSONS
SRB Associates IV L.P.
75-2416758
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
- -------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- -------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF 810,174
SHARES -----------------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 4,295,500
EACH -----------------------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON WITH -----------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
4,295,500
- -------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,105,674
- -------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* |_|
- -------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
53.88%
- -------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
- -------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 3 of 18 Pages
<PAGE>
- ---------------------------------- ----------------------------------
CUSIP NO. 042 69E 107 13G PAGE 4 OF 18 PAGES
- ----------------------------------- ----------------------------------
- -------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATIONS NOS. OF ABOVE PERSONS
Jon W. Bayless
###-##-####
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
- -------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.
- -------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF 0
SHARES -----------------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 5,105,674
EACH -----------------------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON WITH 0
-----------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
5,105,674
- -------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,105,674
- -------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* |_|
- -------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
53.88%
- -------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
- -------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 4 of 18 Pages
<PAGE>
- ---------------------------------- ----------------------------------
CUSIP NO. 042 69E 107 13G PAGE 5 OF 18 PAGES
- ----------------------------------- ----------------------------------
- -------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATIONS NOS. OF ABOVE PERSONS
Stephen M. Dow
###-##-####
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
- -------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.
- -------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF 0
SHARES -----------------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 5,105,674
EACH -----------------------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON WITH 0
-----------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
5,105,674
- -------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,105,674
- -------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* |_|
- -------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
53.88%
- -------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
- -------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 5 of 18 Pages
<PAGE>
- ---------------------------------- ----------------------------------
CUSIP NO. 042 69E 107 13G PAGE 6 OF 18 PAGES
- ----------------------------------- ----------------------------------
- -------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATIONS NOS. OF ABOVE PERSONS
Dennis J. Gorman
###-##-####
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
- -------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.
- -------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF 0
SHARES -----------------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 5,105,674
EACH -----------------------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON WITH 0
-----------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
5,105,674
- -------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,105,674
- -------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* |_|
- -------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
53.88%
- -------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
- -------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 6 of 18 Pages
<PAGE>
- ---------------------------------- ----------------------------------
CUSIP NO. 042 69E 107 13G PAGE 7 OF 18 PAGES
- ----------------------------------- ----------------------------------
- -------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATIONS NOS. OF ABOVE PERSONS
John V. Jaggers
###-##-####
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
- -------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.
- -------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF 0
SHARES -----------------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 5,105,674
EACH -----------------------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON WITH 0
-----------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
5,105,674
- -------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,105,674
- -------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* |_|
- -------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
53.88%
- -------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
- -------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 7 of 18 Pages
<PAGE>
- ---------------------------------- ----------------------------------
CUSIP NO. 042 69E 107 13G PAGE 8 OF 18 PAGES
- ----------------------------------- ----------------------------------
- -------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATIONS NOS. OF ABOVE PERSONS
Charles H. Phipps
###-##-####
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
- -------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.
- -------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF 0
SHARES -----------------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 5,105,674
EACH -----------------------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON WITH 0
-----------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
5,105,674
- -------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,105,674
- -------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* |_|
- -------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
53.88%
- -------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
- -------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 8 of 18 Pages
<PAGE>
- ---------------------------------- ----------------------------------
CUSIP NO. 042 69E 107 13G PAGE 9 OF 18 PAGES
- ----------------------------------- ----------------------------------
- -------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATIONS NOS. OF ABOVE PERSONS
Sevin Rosen Bayless Management Company
75-2185911
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
- -------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Texas
- -------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF 0
SHARES -----------------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 5,105,674
EACH -----------------------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON WITH 0
-----------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
5,105,674
- -------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,105,674
- -------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* |_|
- -------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
53.88%
- -------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
CO
- -------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 9 of 18 Pages
<PAGE>
Item 1.
(a) NAME OF ISSUER.
ArQule, Inc., a Delaware corporation (the "Issuer").
(b) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES.
The Issuer's principal executive offices are located at 200 Boston
Avenue, Medford, Massachusetts 02155.
ITEM 2.
(a) NAMES OF PERSONS FILING.
This statement is filed by the following persons: (i) Sevin Rosen
Fund IV L.P. ("SR IV"); (ii) SRB Associates IV L.P. ("SRB IV"); (iii) Jon W.
Bayless ("Bayless"); (iv) Stephen M. Dow ("Dow"); (v) Dennis J. Gorman
("Gorman"); (vi) John V. Jaggers ("Jaggers"); (vii) Charles H. Phipps ("Phipps")
and (viii) Sevin Rosen Bayless Management Company ("Management Company").
SRB IV is the general partner of SR IV. Bayless, Dow, Gorman,
Jaggers and Phipps are the general partners of SRB IV and are officers of
Management Company. In addition, Bayless is a holder of certain shares of the
Management Company's issued and outstanding capital stock.
(b) ADDRESS OF PRINCIPAL BUSINESS OFFICE.
The principal business office of each of SR IV, SRB IV, Bayless,
Gorman, Jaggers, Phipps and Management Company is Two Galleria Tower, 13455 Noel
Road, Suite 1670, Dallas, Texas 75240. The principal business office of Dow is
550 Lytton Avenue, Suite 200, Palo Alto, California 94301.
Page 10 of 18 Pages
<PAGE>
(c) CITIZENSHIP.
SR IV and SRB IV are each Delaware limited partnerships. Bayless,
Dow, Gorman, Jaggers and Phipps are each U.S. citizens. Management Company is a
Texas corporation.
(d) TITLE OF CLASS OF SECURITIES.
This statement relates to shares of Common Stock, par value $.01 per
share (the "Common Stock"), of the Issuer.
(e) CUSIP NUMBER.
042 69E 107
ITEM 3.
This statement is not being filed pursuant to Rule 13d-1(b)
or 13d-2(b).
ITEM 4. OWNERSHIP.1
(a) AMOUNT BENEFICIALLY OWNED.
(i) SR IV beneficially owns 5,105,674 shares of Issuer's Common
Stock.
(ii) SRB IV beneficially owns 5,105,674 shares of Issuer's Common
Stock.
(iii)Each of Bayless, Gorman, Jaggers, Dow, Phipps and
Management Company beneficially owns 5,105,674 shares of
Issuer's Common Stock.
- --------------------
1 Of the 5,105,674 shares of Issuer's Common Stock beneficially owned by each
of SR IV, SRB IV, Bayless, Gorman, Jaggers, Dow, Phipps and Management
Company, 810,174 shares are owned of record by SR IV and 4,295,500 shares
are owned of record by a partnership ("ArQule Partners L.P."). SR IV is a
limited partner or ArQule Partners L.P. and is the owner of a majority
interest in a corporate general partner of ArQule Partners L.P.
Page 11 of 18 Pages
<PAGE>
(b) PERCENT OF CLASS.2
(i) SR IV -- 53.88%.
(ii) SRB IV -- 53.88%.
(iii) Each of Bayless, Dow, Gorman, Jaggers, Phipps and
Management Company -- 53.88%.
(c) POWER TO VOTE OR DIRECT THE VOTE AND DISPOSE OR DIRECT THE
DISPOSITION OF SECURITIES.
(i) Each of SR IV and SRB IV has sole power to vote or
dispose or to direct the vote or disposition of the
shares of Issuer's Common Stock.
(ii) Each of Bayless, Dow, Gorman, Jaggers, Phipps and
Management Company has shared power to vote or dispose
or to direct the vote or disposition of the shares of
Issuer's Common Stock.
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS.
If this statement is being filed to report the fact that as of the
date hereof the reporting person has ceased to be the beneficial
owner of more than five percent of the class of securities, check
the following [ ]
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON.
ArQule L.P. is the record holder 4,295,500 shares of Issuer's
Common Stock. The general partners of ArQule L.P. have delegated
their respective voting and investment authority with respect to
the shares of Issuer's Common Stock owned of record by ArQule L.P.
to n Investment Committee. Dow is a member of the Investment
Committee.
- -----------------
2 According to the most recently available filing with the Securities and
Exchange Commission in which such number is required to be indicated.
Page 12 of 18 Pages
<PAGE>
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED
THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY.
Not applicable.
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP.
Not applicable.
ITEM 9. NOTICE OF DISSOLUTION OF GROUP.
Not applicable.
ITEM 10. CERTIFICATION.
Not applicable.
Page 13 of 18 Pages
<PAGE>
SIGNATURE/SIGNED IN COUNTERPART
After reasonable inquiry and to the best knowledge and belief of the
undersigned, the undersigned certify that the information set forth in this
statement is true, complete and correct.
SEVIN ROSEN FUND IV L.P.
By: SRB Associates IV L.P.,
General Partner
Dated: February 13, 1997 By:/S/ JOHN V. JAGGERS
--------------------------------------
John V. Jaggers, a General Partner
SRB ASSOCIATES IV L.P.
Dated: February 13, 1997 By: /S/ JOHN V. JAGGERS
-------------------------------------
John V. Jaggers, a General Partner
Dated: February 13, 1997 /S/ JON W. BAYLESS
------------------------------------
Jon W. Bayless
Dated: February 13, 1997 /S/ JOHN V. JAGGERS, ATTORNEY-IN-FACT
------------------------------------
Stephen M. Dow
Dated: February 13, 1997 /S/ DENNIS J. GORMAN
------------------------------------
Dennis J. Gorman
Dated: February 13, 1997 /S/ JOHN V. JAGGERS
------------------------------------
John V. Jaggers
Dated: February 13, 1997 /S/ CHARLES H. PHIPPS
------------------------------------
Charles H. Phipps
SEVIN ROSEN BAYLESS MANAGEMENT COMPANY
Dated: February __, 1997 By: /S/ JOHN V. JAGGERS
--------------------------------------
Title: Vice President
Page 14 of 18 Pages
<PAGE>
EXHIBIT INDEX
EXHIBIT
1. Joint Filing Agreement.
2. Power of Attorney.
Page 15 of 18 Pages
<PAGE>
EXHIBIT 1
THIS DOCUMENT HAS BEEN SIGNED IN COUNTERPART
JOINT FILING AGREEMENT
In accordance with Rule 13d-1(f) under the Securities Exchange Act
of 1934, the persons named below agree to the joint filing on behalf of each of
them of a Statement on Schedule 13G (including amendments thereto) with respect
to the common stock of ArQule, Inc., and further agree that this Joint Filing
Agreement be included as an Exhibit to such joint filings. In evidence thereof
each of the undersigned, being duly authorized, hereby execute this Agreement on
the date set forth opposite its or his name.
SEVIN ROSEN FUND IV L.P.
By: SRB ASSOCIATES IV L.P.,
General Partner
Dated: February 13, 1997 By:/S/ JOHN V. JAGGERS
----------------------------------
John V. Jaggers, a General Partner
SRB ASSOCIATES IV L.P.
Dated: February 13, 1997 By: /S/ JOHN V. JAGGERS
--------------------------------------
John V. Jaggers, a General Partner
Dated: February 13, 1997 /S/ JON W. BAYLESS
-------------------------------------
Jon W. Bayless
Dated: February 13, 1997 /S/ JOHN V. JAGGERS, ATTORNEY-IN-FACT
-------------------------------------
Stephen M. Dow
Page 16 of 18 Pages
<PAGE>
Dated: February 13, 1997 /S/ DENNIS J. GORMAN
-------------------------------------
Dennis J. Gorman
Dated: February 13, 1997 /S/ JOHN V. JAGGERS
-------------------------------------
John V. Jaggers
Dated: February 13, 1997 /S/ CHARLES H. PHIPPS
-------------------------------------
Charles H. Phipps
SEVIN ROSEN BAYLESS MANAGEMENT COMPANY
Dated: February 13, 1997 By: /S/ JOHN V. JAGGERS
---------------------------------
Title: Vice President
Page 17 of 18 Pages
<PAGE>
EXHIBIT 2
POWER OF ATTORNEY
The undersigned, STEPHEN M. DOW, hereby makes, constitutes and
appoints each of DENNIS J. GORMAN, JOHN V. JAGGERS AND JON W. BAYLESS, and each
of them singly, his true and lawful attorney-in-fact and agent, with full power
to them, and each of them singly, and with full power of substitution, to sign
for the undersigned and in his name, any Form 144, Form 3, Form 4, Form 5,
Schedule 13D and Schedule 13G, and any and all amendments thereto, and to file
the same, and all exhibits thereto, and all documents in connection therewith,
with the Securities and Exchange Commission, and generally to do all things in
the name of the undersigned and on his behalf to enable the undersigned to
comply with the reporting requirements of the Securities Act of 1933, as
amended, and the Securities Exchange Act of 1934, as amended, and all
requirements of the Securities and Exchange Commission.
This Power of Attorney shall not be affected by the subsequent
disability or incompetence of the undersigned.
This Power of Attorney may not be changed orally.
The undersigned hereby agrees that any third party receiving a duly
executed copy or reproduction of this Power of Attorney may act under it.
Revocation or termination of this Power of Attorney will not be effective until
the third party receives actual knowledge of the termination or revocation. The
undersigned shall hold harmless any third party from and against any claims that
may arise against the third party as a result of reliance on this Power of
Attorney.
IN WITNESS WHEREOF, the undersigned has executed this Power of
Attorney as of the 13th day of June, 1994.
/s/ Stephen M. Dow
------------------------------
Stephen M. Dow
STATE OF TEXAS )
)ss.:
COUNTY OF DALLAS )
On this 13th day of June, 1994 before me personally came Stephen M.
Dow, to me known and known to me to be the individual described in, and who
executed the foregoing instrument, and he acknowledged to me that he executed
the same.
/s/ Jo Anne Eisler
---------------------------------
Notary Public
My commission expires: May 27, 1998
Page 18 of 18 Pages
