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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 2)*
OHM Corporation
______________________________________________________________________________
(Name of Issuer)
Common Stock $.10 par value per share
______________________________________________________________________________
(Title of Class of Securities)
670839 10 9
_______________________________________________________________
(CUSIP Number)
Herbert A. Getz, Senior Vice President,
General Counsel and Secretary
Waste Management, Inc.
3003 Butterfield Road
Oak Brook, Illinois 60523
(630) 572-8840
________________________________________________________________________________
(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
February 17, 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 [_].
<PAGE>
Check the following box if a fee is being paid with the statement [_]. (A fee is
not required only if the reporting person: (1) has a previous statement on file
reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7.)
Note: Six copies of this statement, including all exhibits, should be filed
with the Commission. See Rule 13d-1(a) for other parties to whom copies are to
be sent.
* 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
disclosures provided in a prior cover page.
The information required on 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 ("Act") 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>
This Amendment No. 2 relates to the original statement on Schedule 13D, as
amended by Amendment No. 1 (the "Original Schedule 13D"), with respect to the
common stock, $.10 par value (the "Common Stock"), of OHM Corporation, an Ohio
corporation (the "Issuer"). This Amendment supplements and amends the Original
Schedule 13D and should be read in conjunction therewith. Capitalized terms
used but not otherwise defined herein have the meanings ascribed to them in the
Original Schedule 13D.
ITEM 4. PURPOSE OF THE TRANSACTION
(a) Pursuant to the Second Amended and Restated Share Repurchase Agreement
dated as of February 17, 1998 (the "Amended Share Repurchase Agreement"),
amending the Share Repurchase Agreement dated as of January 15, 1998(which was
included as Exhibit 3 to Amendment No. 1), as amended and restated as of
February 11, 1998, Rust Remedial Services Holding Company, Inc. has agreed to
(i) sell to the Issuer up to 5,235,381 shares of Common Stock (the "Repurchased
Shares"); (ii) tender (and not withdraw)2,142,141 shares of Common Stock into
the offer by IT-Ohio, Inc. for 13,933,000 shares of Common Stock of the Issuer
(the "Offer") and not tender more than 2,142,141 shares into the Offer except to
the extent (and only to the extent) that a request is made pursuant to clauses
(iii) or (iv); (iii) upon the request of OHM Corporation ("Parent") and the
Issuer, tender into the Offer (and not withdraw) 2,290,478 shares of Common
Stock or such lesser number of additional shares of Common Stock as may be
necessary to cause the aggregate number of shares tendered into the Offer to be
equal to 13,933,000; and (iv) provided that the request referred to in clause
(iii) has been made, upon the request of Parent and the Issuer, tender into the
Offer (and not withdraw) such number of the Repurchased Shares estimated to be
necessary to cause the aggregate number of shares tendered into the Offer to be
equal to 13,933,000 (subject to the condition that all of the 4,432,619 shares
referred to in clauses (ii) and (iii) are taken up and paid for in the Offer),
in which event the number of Repurchased Shares shall be reduced by the number
of Repurchased Shares tendered into the Offer. Any shares tendered into the
Offer pursuant to clause (iv) above not purchased by IT-Ohio, Inc. will be
purchased separately by the Issuer. The Amended Share Repurchase Agreement is
Exhibit 1 hereto, and is incorporated herein by reference.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
1. Second Amended and Restated Share Repurchase Agreement dated as of
February 17, 1998 among OHM Corporation, Waste Management, Inc., Rust
International Inc., Rust Remedial Services Holding Company Inc. and
International Technology Corporation.
2
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of its knowledge and belief, Waste
Management, Inc. certifies that the information set forth in this Amendment is
true, complete and correct.
WASTE MANAGEMENT, INC.
By: /s/ Herbert A. Getz
-----------------------------------------
Senior Vice President,
General Counsel and Secretary
Dated: February 18,1998
3
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of its knowledge and belief,
Chemical Waste Management, Inc. certifies that the information set forth in this
Amendment is true, complete and correct.
CHEMICAL WASTE MANAGEMENT, INC.
By: /s/ Thomas A. Witt
----------------------------------------
Secretary
Dated: February 18,1998
4
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of its knowledge and belief, Rust
International Inc. certifies that the information set forth in this Amendment is
true, complete and correct.
RUST INTERNATIONAL INC.
By: /s/ Herbert A. Getz
-------------------------------------------
Vice President
Dated: February 18,1998
5
<PAGE>
EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION
- ----------- -----------
1. Second Amended and Restated Share Repurchase Agreement dated as
of February 17, 1998 among OHM Corporation, Waste Management,
Inc., Rust International Inc., Rust Remedial Services Holding
Company Inc. and International Technology Corporation.
<PAGE>
EXHIBIT 1
SECOND AMENDED AND RESTATED SHARE REPURCHASE AGREEMENT
SECOND AMENDED AND RESTATED SHARE REPURCHASE AGREEMENT (this "Second
Amended and Restated Agreement"), dated as of February 17, 1998, among OHM
Corporation, an Ohio corporation (the "Company"), Waste Management, Inc., a
Delaware corporation ("WMX"), Rust International Inc., a Delaware corporation
("Rust"), Rust Remedial Services Holding Company Inc., a Delaware corporation
(the "Shareholder"), and International Technology Corporation, a Delaware
corporation ("Parent").
WHEREAS, certain of the parties are party to that certain Share
Repurchase Agreement, dated as of January 15, 1998, among OHM Corporation, Waste
Management, Inc., Rust International Inc. and International Technology
Corporation (the "Original Agreement"), and certain of the parties to this
Agreement are also parties to the Standstill and Non-Competition Agreement,
dated as of May 30, 1995, among the Company, WMX and Rust (the "Standstill
Agreement"); and
WHEREAS, the Original Agreement was amended and restated as of
February 11, 1998 (the "Amended and Restated Agreement," the Original
Agreement, as amended and restated by the Amended and Restated Agreement and
this Second Amended and Restated Agreement, being hereinafter referred to as
this "Agreement"); and
WHEREAS, concurrently with the execution of the Original Agreement,
the Company, Parent and IT-Ohio, Inc., an Ohio corporation ("Merger Sub"),
entered into an Agreement and Plan of Merger, dated as of January 15, 1998 (as
it may be amended from time to time, the "Merger Agreement"), which provides
that Merger Sub will make a tender offer (the "Offer") for 13,933,000 shares of
Common Stock, par value $0.10 per share, of the Company ("Shares") and that,
subsequent to the consummation of the Offer, Merger Sub will merge with and into
the Company (the "Merger" and, collectively with the Offer and the other
transactions contemplated by the Merger Agreement, the "Merger Transactions");
and
WHEREAS, the Shareholder is the record holder of an aggregate of
9,668,000 Shares (the "Shareholder Shares"); and
<PAGE>
WHEREAS, Parent, the Company, WMX and the Shareholder wish, as a part
of the Merger Transactions, to provide for the repurchase by the Company from
the Shareholder, concurrently with the payment to BankBoston, N.A., as
Depositary for the Offer on behalf of holders of Shares tendering into the
Offer, of the aggregate purchase price for all Shares purchased in the Offer
(the "Payment Time"), of 5,235,381 Shareholder Shares (the "Repurchased
Shares"), subject to the provisions of Section 2.4(c), in a manner that will
increase the aggregate number of Shares acquired for cash in the Merger
Transactions and make it possible for the Merger Consideration (as defined in
the Merger Agreement) to consist solely of shares of Parent Common Stock (as
defined in the Merger Agreement); and
WHEREAS, the parties intend for WMX and the Shareholder, considered
together, not to receive any greater consideration per Share in the Merger
Transactions than the other holders of Shares have the opportunity to receive,
and that for Shareholder not to receive any greater amount of cash consideration
per Share in the Merger Transactions than the other holders of Shares have the
opportunity to receive; and
WHEREAS, in order to facilitate consummation of the Merger
Transactions, WMX and the Shareholder wish to agree (i) to cause to be tendered
into the Offer certain of the Shareholder Shares on the terms and in the manner
set forth herein, (ii) to vote or cause to be voted the Shareholder Shares and
any other shares of capital stock of the Company held by either of them so as to
facilitate consummation of the Merger Transactions, (iii) except as provided in
this Agreement, not to transfer or otherwise dispose of or permit to be
transferred or otherwise disposed of any of the Shareholder Shares, or any other
shares of capital stock of the Company, acquired by either of them hereafter and
prior to the Effective Time (as defined in the Merger Agreement), (iv) to
deliver to Parent an irrevocable proxy to vote the Shareholder Shares and any
other shares of capital stock of the Company acquired by the Shareholder or WMX
hereafter and prior to the Effective Time, (v) to amend or terminate, as the
case may be, certain agreements to which certain of the parties hereto are
parties, and (vi) to make certain other agreements, all as provided for herein.
<PAGE>
NOW, THEREFORE, for good and valuable consideration, the receipt,
sufficiency and adequacy of which is hereby acknowledged, the parties hereto
hereby amend and restate the Original Agreement, ab initio, as follows:
ARTICLE I
Definitions; Representations and Warranties
-------------------------------------------
1.1 Definitions. Terms used herein but not defined herein shall have
-----------
the respective meanings ascribed to such terms in the Merger Agreement.
1.2 Representations of WMX and the Shareholder. WMX and the
------------------------------------------
Shareholder jointly and severally represent and warrant to the Company that (a)
the Shareholder owns beneficially and of record (as such term is defined in the
Securities Exchange Act of 1934, as amended (the "1934 Act")) 9,668,000 Shares
free and clear of all liens, claims, charges, security interests or other
encumbrances (each, a "Lien") and, except for this Agreement and the warrants to
purchase Shares (the "Warrants") issued pursuant to the Warrant Agreement, dated
as of May 30, 1995, among the Company and WMX (the "Warrant Agreement"), there
are no options, warrants or other rights, agreements, arrangements or
commitments of any character to which WMX or the Shareholder is a party relating
to the pledge or disposition of any shares of capital stock of the Company and,
except for the Standstill Agreement and this Agreement, there are no voting
trusts or voting agreements to which WMX or the Shareholder is a party with
respect to any shares of capital stock of the Company; (b) neither WMX nor the
Shareholder beneficially owns any shares of capital stock of the Company other
than the Shareholder Shares, in the case of the Shareholder, and the Warrants,
in the case of WMX, and, except for the Warrants held by WMX, neither has any
options, warrants or other rights to acquire any additional shares of capital
stock of the Company or any security exercisable for or convertible into shares
of capital stock of the Company; (c) WMX and the Shareholder have full power and
authority to enter into, execute and deliver this Agreement and to perform fully
their respective obligations under this Agreement; and (d) this Agreement has
been duly executed and delivered by each of WMX, the Shareholder and Rust,
constitutes the legal, valid and binding obligation of
-3-
<PAGE>
WMX, the Shareholder and Rust and is enforceable against each of them in
accordance with its terms. The foregoing representations shall survive
consummation of the Merger Transactions and the other transactions contemplated
by this Agreement.
1.3 Representations of the Company. The Company represents and
------------------------------
warrants to WMX and the Shareholder that (a) the Company has full power and
authority to enter into, execute and deliver this Agreement and to perform fully
its obligations under this Agreement, (b) this Agreement has been duly executed
and delivered by the Company, constitutes the legal, valid and binding
obligation of the Company and is enforceable against it in accordance with its
terms, and (c) the Company has obtained all consents, approvals, permits and
authorizations required to be obtained by the Company pursuant to any law,
regulation, contract, agreement or instrument in connection with the execution
and delivery of this Agreement. The foregoing representations shall survive
consummation of the Merger Transactions and the other transactions contemplated
by this Agreement.
ARTICLE II
The Repurchase and the Offer
----------------------------
2.1 Repurchase of Shares. Subject to the terms and conditions of
--------------------
this Agreement, including the conditions set forth in Section 2.3 and the
provisions of Section 2.4(c):
(a) The Company agrees to purchase from the Shareholder, and the
Shareholder agrees to sell to the Company (such purchase and sale transaction,
the "Repurchase"), the Repurchased Shares, free and clear of any Liens at a
purchase price of $11.50 per Repurchased Share, or such greater price per
Repurchased Share as may be paid in the Offer (the "Repurchase Price").
(b) If for any reason the Company has not repurchased the Repurchased
Shares immediately prior to the Effective Time (as defined in the Merger
Agreement), or the Repurchased Shares have not been purchased in the Offer, the
Company shall take such action as may be necessary at such time to purchase the
Repurchased Shares at the Repurchase
-4-
<PAGE>
Price for cash at such time, so that the Repurchased Shares shall have been
acquired by the Company, Parent or Merger Sub prior to the Effective Time.
2.2 Repurchase Closing. (a) Subject to Section 2.4(c), the delivery
------------------
of the Repurchased Shares (the "Repurchase Closing") shall take place at the
offices of Sullivan & Cromwell, 125 Broad Street, New York, New York at the
Payment Time.
(b) At the Repurchase Closing:
(i) The Shareholder shall deliver to the Company certificates or
duly executed stock powers representing the Repurchased Shares not tendered
pursuant to a request pursuant to Section 2.4(c) (in the case of
certificates, duly endorsed and in form for transfer to the Company); and
(ii) The Company shall pay to the Shareholder, by wire transfer,
to an account designated by the Shareholder no fewer than two business days
prior to the Repurchase Closing, immediately available funds equivalent to
the Repurchase Price multiplied by the number of Repurchased Shares.
2.3 Conditions to the Repurchase. (a) The respective obligations of
----------------------------
the Company and the Shareholder to consummate the Repurchase are subject to the
fulfillment of each of the following conditions, any or all of which may be
waived in whole or in part by the Company or the Shareholder, as the case may
be, to the extent permitted by applicable law:
(i) Concurrently with the Repurchase Closing, Merger Sub shall have
paid for Shares pursuant to the Offer.
(ii) No United States or state court or other Governmental Entity (as
defined in the Merger Agreement) of competent jurisdiction shall have
enacted, issued, promulgated, enforced or entered any statute, rule,
regulation, judgment, decree, injunction or other order (whether temporary,
preliminary or permanent) which is in effect and prohibits
-5-
<PAGE>
consummation of the transactions contemplated by the Merger Agreement or
this Agreement.
(b) The obligation of the Company to consummate the Repurchase is
subject to the condition that the representations and warranties of WMX and the
Shareholder contained in Section 1.2 are true and accurate in all material
respects as of the date hereof and as of the Repurchase Closing, provided,
however, that the foregoing condition may be waived in whole or in part by the
Company.
(c) The obligation of WMX and the Shareholder to consummate the
Repurchase is subject to the condition that the representations and warranties
of the Company contained in Section 1.3 are true and accurate in all material
respects as of the date hereof and as of the Repurchase Closing, provided,
however, that the foregoing condition may be waived in whole or in part by WMX
by the Shareholder.
2.4 The Tender Offer. (a) WMX and the Shareholder shall cause to be
----------------
tendered into the Offer, prior to the expiration or termination of the Offer,
2,142,141 Shares, shall cause such Shares not to be withdrawn from the Offer
prior to the expiration or termination of the Offer, and shall not cause more
than 2,142,141 Shares to be tendered into the Offer, except to the extent (and
only to the extent) that a request is made pursuant to Sections 2.4(b) or (c).
(b) Promptly upon WMX's receipt by telecopier of a written request
from Parent and the Company therefor, WMX and the Shareholder shall, subject to
the terms hereof, cause to be tendered into the Offer an additional 2,290,478
Shares, or such lesser number of Shares as Parent and the Company may request,
accompanied by a letter of transmittal and supplemental letter of transmittal in
form reasonably satisfactory to Parent and the Company stating that of the
Shares accompanying such instruments the holder thereof is tendering only such
number of Shares as is necessary to cause the aggregate number of Shares
tendered into and accepted for payment in the Offer to be equal to 13,933,000.
WMX and the Shareholder shall cause such number of Shares not to be withdrawn
from the Offer prior to the expiration or termination of the Offer.
-6-
<PAGE>
(c) Provided that Parent and the Company shall have previously made
(or they concurrently make) a request pursuant to Section 2.4(b) with respect to
2,290,478 Shares, promptly upon WMX's receipt by telecopier of a written request
from Parent and the Company therefor, WMX and the Shareholder shall cause to be
tendered into the Offer such number of Repurchased Shares as Parent and the
Company shall reasonably estimate is necessary to be tendered in order to cause
the aggregate number of Shares tendered into the Offer to be equal to
13,933,000, accompanied by a letter of transmittal and supplemental letter of
transmittal in form reasonably satisfactory to Parent and the Company stating
that of the Repurchased Shares accompanying such instruments the holder thereof
is tendering only such number of Repurchased Shares as is necessary to cause the
aggregate number of Shares tendered into and accepted for payment in the Offer
to be equal to 13,933,000 and that such tender is subject to the condition
subsequent that all of the 4,432,619 Shares referred to in Sections 2.4(a) and
(b) are taken up and paid for in the Offer. WMX and the Shareholder shall cause
such number of Repurchased Shares not to be withdrawn from the Offer prior to
the expiration or termination of the Offer. In the event that Parent and the
Company make a request pursuant to this paragraph, the number of Repurchased
Shares repurchased at the Repurchase Closing shall be reduced by the number of
Repurchased Shares tendered into the Offer pursuant to this Section 2.4(c), and
any Repurchased Shares not accepted for payment in the Offer shall be purchased
by the Company, at the Repurchase Price, as promptly as practicable following
the payment for Shares in the Offer, but in any event not later than the date on
which the payment for Shares tendered by the Shareholder is transmitted to the
Shareholder by the Depositary for the Offer. The closing procedures set forth
in Section 2.2(b) shall be followed in respect of Repurchased Shares not
accepted for payment in the Offer.
ARTICLE III
The Merger
----------
3.1 Agreement to Vote Shares. In addition to and notwithstanding the
------------------------
provisions of Section 1.2 of the Standstill Agreement, WMX and the Shareholder
agree that during the term of this Agreement they consent to and
-7-
<PAGE>
approve the voting of the Shareholder Shares and any New Shares (as defined in
Section 4.2), (a) in favor of adoption of the Merger Agreement and in favor of
consummation of the Merger Transactions at every meeting of the shareholders of
the Company at which such matters are considered and at every adjournment
thereof or in connection with any written consent of the shareholders of the
Company, (b) in favor of the election to the Company's Board of Directors of
such number of Parent Representatives as Parent is permitted to cause to be
elected to the Company's Board of Directors pursuant to Section 1.4 of the
Merger Agreement, (c) against any action or agreement that would compete with,
impede, interfere with or attempt to discourage the Merger Transactions, or
inhibit the timely consummation of the Merger Transactions, (d) against any
action or agreement that would result in a breach in any material respect of any
covenant, representation or warranty or any other obligation of the Company
under the Merger Agreement and (e) against any merger, consolidation, business
combination, reorganization, recapitalization, liquidation or sale or transfer
of any material assets of the Company or its subsidiaries, except for the Merger
Transactions. The Shareholder agrees to deliver to Parent upon request a proxy
substantially in the form attached hereto as Exhibit A, which proxy shall be
irrevocable during the term of this Agreement to the fullest extent permitted
under Ohio law.
3.2 No Voting Trusts. WMX and the Shareholder agree that they will
----------------
not, nor will they permit any entity under their control to, deposit any of the
Shareholder Shares or any New Shares held by them or any entity under their
control in a voting trust or subject any of the Shareholder Shares or any New
Shares held by them or any entity under their control to any arrangement with
respect to the voting of the Shareholder Shares that could result in a
shareholder's vote or action by consent of the shareholders of the Company in
opposition to or in competition with the consummation of the Merger
Transactions.
3.3 No Proxy Solicitations. WMX and the Shareholder agree that they
----------------------
will not, nor will they permit any entity under their respective control to, (a)
solicit proxies or become a "participant" in a "solicitation" (as such terms are
defined in Regulation 14A under the 1934 Act) in opposition to or in competition
with the consummation of
-8-
<PAGE>
the Merger Transactions or otherwise encourage or assist any party in taking or
planning any action which would compete with, impede, interfere with or attempt
to discourage the Merger Transactions or inhibit the timely consummation of the
Merger Transactions, (b) directly or indirectly encourage, initiate or cooperate
in a shareholders' vote or action by consent of the Company's shareholders in
opposition to or in competition with the consummation of the Merger
Transactions, or (c) become a member of a "group" (as such term is used in
Section 13(d) of the 1934 Act) with respect to any voting securities of the
Company for the purpose of opposing or competing with the consummation of the
Merger Transactions.
3.4 Waiver of Dissenters' Rights. The Shareholder hereby
----------------------------
unconditionally and irrevocably waives its rights pursuant to Sections 1701.84
et seq. of the Ohio General Corporation Law to exercise appraisal rights or
- -- ---
dissenters' rights with respect to the Offer, the Merger, or the other
transactions contemplated by the Merger Agreement.
ARTICLE IV
Other Agreements
----------------
4.1 No Transfer or Encumbrance. In addition to and notwithstanding
--------------------------
the provisions of Section 1.8 of the Standstill Agreement, WMX and the
Shareholder agree not to transfer, sell, offer, exchange, pledge or otherwise
dispose of or encumber any of the Warrants, Shareholder Shares or New Shares on
or after the date hereof and during the term of this Agreement, except for
tenders in accordance with Section 2.4, unless the transferee agrees in writing
in form satisfactory to the Company and Parent to be bound by the terms of this
Agreement.
4.2 No Additional Purchases or Acquisitions. In addition to and
---------------------------------------
notwithstanding the provisions of Sections 1.1 and 2.4 of the Standstill
Agreement, WMX and the Shareholder agree that they will not purchase or
otherwise acquire beneficial ownership of any Shares or any other capital stock
of the Company after the execution of this Agreement ("New Shares"), nor will
WMX or the Shareholder voluntarily acquire the right to vote or share in the
voting of any Shares or any other capital stock of the Company
-9-
<PAGE>
other than the Shareholder Shares, unless (in either case) WMX or the
Shareholder, as the case may be, agrees to deliver to the Board of Directors of
the Company immediately after such purchase or acquisition an irrevocable proxy
in the form attached hereto as Exhibit A with respect to such New Shares. WMX
and the Shareholder also agree that any New Shares acquired or purchased by them
shall be subject to the terms of this Agreement to the same extent as if they
constituted Shareholder Shares.
4.3 First Amendment to Standstill Agreement. The Standstill
---------------------------------------
Agreement is hereby amended ab initio, as of the execution of this Agreement, to
amend Section 1.4 thereof by adding the following clause to the end of such
Section:
", except the Share Repurchase Agreement, dated as of January 15, 1998,
among OHM Corporation, Waste Management, Inc., Rust International Inc. and
International Technology Corporation, the Amended and Restated Share
Repurchase Agreement, dated as of February 11, 1998, among OHM Corporation,
Waste Management, Inc., Rust International Inc., Rust Remedial Services
Holding Company Inc. and International Technology Corporation and the
Second Amended and Restated Share Repurchase Agreement, dated February 17,
1998, among OHM Corporation, Waste Management, Inc., Rust International
Inc., Rust Remedial Services Holding Company Inc. and International
Technology Corporation."
4.4 Second Amendment to Standstill Agreement. The Standstill
----------------------------------------
Agreement is hereby further amended ab initio, as of the occurrence of the
Repurchase Closing, to delete therefrom Sections 2.1 through 2.7 thereof in
their entirety.
4.5 Third Amendment to Standstill Agreement. The Standstill
---------------------------------------
Agreement is hereby further amended ab initio, as of the Repurchase Closing, to
delete therefrom Sections 3.1, 3.2 and 3.3 thereof in their entirety.
4.6 Release from Intercreditor Agreement. WMX and the Shareholder
------------------------------------
hereby consent to the payment by the Company of a pro rata taxable distribution
--- ----
(the "NSC Distribution") to holders of record of the Shares of all of
-10-
<PAGE>
the shares of common stock, par value $0.01 per share, of NSC Corporation held
by the Company (the "NSC Shares") and waive their rights to reimbursement
pursuant to the Reimbursement Agreement, dated as of May 31, 1995, among the
Company, Remediation and WMX, and the Intercreditor Agreement, dated as of May
31, 1995, among WMX, the Administrative Agent and the Issuing and Paying Agent,
and hereby release the NSC Shares from any security interest (pursuant to pledge
agreements or otherwise) which WMX may have with respect to such NSC Shares. WMX
agrees to execute any documents reasonably necessary to give effect to the
provisions of this Section, promptly upon request therefor made by the Company.
4.7 Termination of the Guaranty Agreement. The parties hereby agree
-------------------------------------
that the Guaranty Agreement, dated as of May 30, 1995, between the Company and
WMX, shall be terminated effective as of the Common Termination Date.
4.8 Cancellation of The Warrants.
----------------------------
(a) The parties hereby agree that the Warrant Agreement shall be
terminated and the Warrants shall be canceled effective as of the date on which
the Guaranty, made as of May 31, 1995, by WMX in favor of the Banks listed
therein (the "Guaranty"), terminates in accordance with Section 10(a) thereof
(such date, the "Common Termination Date"), without the payment of any separate
consideration therefor. The parties hereby agree to use their reasonable best
efforts to cause the events specified in Section 10(a) of the Guaranty to occur
prior to the second business day subsequent to the Effective Time.
(b) WMX agrees not to exercise its rights pursuant to Sections 3.1 or
3.2 of the Warrant Agreement prior to the earlier to occur of (i) the second
business day subsequent to the Effective Time, and (ii) the termination of the
Merger Agreement in accordance with its terms.
(c) WMX agrees not to exercise its rights pursuant to Section 2.2 of
the Warrant Agreement with respect to the Merger Transactions prior to the
second business day subsequent to the Effective Time.
-11-
<PAGE>
(d) WMX hereby waives its rights under Sections 2.1 through 2.7 of the
Warrant Agreement with respect to the NSC Distribution.
ARTICLE V
Miscellaneous
-------------
5.1 Specific Performance. Each party hereto acknowledges that it
--------------------
will be impossible to measure in money the damage to the other party if a party
hereto fails to comply with any of the obligations imposed by this Agreement,
that every such obligation is material and that, in the event of any such
failure, the other party will not have an adequate remedy at law or damages.
Accordingly, each party hereto agrees that injunctive relief or other equitable
remedy, in addition to remedies at law or damages, is the appropriate remedy for
any such failure and will not oppose the granting of such relief on the basis
that the other party has an adequate remedy at law. Each party hereto agrees
that it will not seek, and agrees to waive any requirement for, the securing or
posting of a bond in connection with any other party's seeking or obtaining such
equitable relief.
5.2 Entire Agreement. This Agreement and the Standstill Agreement
----------------
(as herein amended) supersede all prior agreements, written or oral, among the
parties hereto with respect to the subject matter hereof and contains the entire
agreement among the parties with respect to the subject matter hereof. This
Agreement may not be amended, supplemented or modified, and no provisions hereof
may be modified or waived, except by an instrument in writing signed by all the
parties hereto. No waiver of any provisions hereof by any party shall be deemed
a waiver of any other provisions hereof by any such party, nor shall any such
waiver be deemed a continuing waiver of any provision hereof by such party.
5.3 Notices. Any notice, request, instruction or other document to
-------
be given hereunder by any party to the others shall be in writing and delivered
personally or sent by registered or certified mail, postage prepaid, or by
facsimile:
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<PAGE>
if to WMX, the Shareholder or Rust:
----------------------------------
Herbert A. Getz
Waste Management, Inc.
3003 Butterfield Road
Oak Brook, Illinois 60523
Telecopier: (630) 572-9130
with a copy to:
John H. Bitner
Bell, Boyd & Lloyd
Three First National Plaza
70 West Madison Street, Suite 3300
Chicago, Illinois 60602-4207
Telecopier: (312) 372-2098
if to the Company:
-----------------
Steven E. Harbour
OHM Corporation
5445 Triangle Parkway, Suite 400
Norcross, Georgia 30092
Telecopier: (770) 849-3110
with a copy to:
Joseph B. Frumkin
Sullivan & Cromwell
125 Broad Street
New York, New York 10004
Telecopier: (212) 558-3588
and a copy to:
Thomas C. Daniels
Jones Day Reavis & Pogue
North Point
901 Lakeside Avenue
Cleveland, Ohio 44114
Telecopier: (216) 579-0212
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<PAGE>
if to Parent:
------------
James G. Kirk
International Technology Corporation
2790 Mosside Boulevard
Monroeville, PA 15146-2792
Telecopier: (412) 858-3978
with a copy to:
Peter F. Ziegler
Gibson, Dunn & Crutcher LLP
333 South Grand Avenue
Los Angeles, California 90071
Telecopier: (213) 229-7520
or to such other persons or addresses as may be designated in writing by the
party to receive such notice as provided above.
5.4 Miscellaneous.
-------------
(a) This Agreement shall be deemed a contract made under, and for all
purposes shall be construed in accordance with, the laws of the State of Ohio
applicable to agreements executed in and solely to be performed within such
State.
(b) If any provision of this Agreement or the application of such
provision to any person or circumstances shall be held invalid or unenforceable
by a court of competent jurisdiction, such provision or application shall be
unenforceable only to the extent of such invalidity or unenforceability and the
remainder of the provision held invalid or unenforceable and the application of
such provision to persons or circumstances, other than the party as to which it
is held invalid, and the remainder of this Agreement, shall not be affected.
(c) This Agreement may be executed in one or more counterparts, each
of which shall be deemed to be an original but all of which together shall
constitute one and the same instrument.
(d) This Agreement shall terminate automatically upon the termination
of the Merger Agreement. This
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<PAGE>
Agreement may be terminated by the Company at any time if WMX or the Shareholder
shall have failed to comply with any of their respective covenants or agreements
contained in this Agreement. This Agreement may be terminated by WMX or the
Shareholder at any time if the Company shall have failed to comply with any of
its covenants or agreements contained in this Agreement.
(e) Each party hereto shall execute and deliver such additional
documents as may be necessary or desirable to effect the transactions
contemplated by this Agreement.
(f) All Section headings herein are for convenience of reference only
and are not part of this Agreement, and no construction or reference shall be
derived therefrom.
(g) The obligations of the parties set forth in this Agreement shall
not be effective or binding upon any party hereto until after such time as the
Merger Agreement is executed and delivered by the Company, Parent and Merger
Sub, and the parties agree that there is not and has not been any other
agreement, arrangement or understanding between the parties hereto with respect
to the matters set forth herein.
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<PAGE>
IN WITNESS WHEREOF, the parties hereto have executed and delivered
this Agreement as of the date first written above.
OHM CORPORATION
By: /s/ Steven E. Harbour
__________________________
Name: Steven E. Harbour
Title: Vice President, Legal
WASTE MANAGEMENT, INC.
By: /s/ Herbert A. Getz
__________________________
Name: Herbert A. Getz
Title: Senior Vice President
RUST INTERNATIONAL INC.
By: /s/ Herbert A. Getz
__________________________
Name: Herbert A. Getz
Title: Vice President
RUST REMEDIAL SERVICES
HOLDING COMPANY INC.
By: /s/ Dale B. Tauke
__________________________
Name: Dale B. Tauke
Title: Vice President
INTERNATIONAL TECHNOLOGY
CORPORATION
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<PAGE>
By: /s/ James G. Kirk
__________________________
Name: James G. Kirk
Title: Vice President, General Counsel
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<PAGE>
(EXHIBIT A)
FORM OF PROXY
The undersigned, for consideration received, hereby appoints Anthony
J. DeLuca and James G. Kirk and each of them my proxies, with power of
substitution and resubstitution, to vote all shares of Common Stock of OHM
Corporation, an Ohio corporation (the "Company"), [and [insert any other Shares
(as defined in the Second Amended and Restated Share Repurchase Agreement) or
other shares of capital stock of the Company owned by the Shareholder)]] owned
by the undersigned at the Special Meeting of Shareholders of the Company to be
held [insert date, time and place] and at any adjournment thereof IN FAVOR OF
adoption of the Agreement and Plan of Merger, dated as of January 15, 1998 (the
"Merger Agreement"), among the Company, International Technology Corporation
("Parent") and IT-Ohio, Inc., IN FAVOR OF consummation of the Merger
Transactions, IN FAVOR OF [List such number of Parent Representatives (as
defined in Section 1.4 of the Merger Agreement) as Parent is permitted to cause
to be elected to the Company's Board of Directors pursuant to Section 1.4 of the
Merger Agreement], and AGAINST [insert description of any action or agreement
that would compete with, impede, interfere with or attempt to discourage the
Merger Transactions or inhibit the timely consummation of the Merger
Transactions or any action or agreement that would result in a breach in any
material respect of any covenant, representation or warranty or any other
obligation of the Company under the Merger Agreement or any merger,
consolidation, business combination, reorganization, recapitalization,
liquidation or sale or transfer of any material assets of the Company or its
subsidiaries]. This proxy is coupled with an interest, revokes all prior
proxies granted by the undersigned and is irrevocable until such time as the
Second Amended and Restated Share Repurchase Agreement, dated as of February 17,
1998 among the undersigned and the Company terminates in accordance with its
terms.
Dated _________, 1998
RUST REMEDIAL SERVICES HOLDING
COMPANY INC.
By:___________________________
Name:
Title:
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