<PAGE> 1
AS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON JULY 29, 1999.
REGISTRATION NO. 333-
================================================================================
SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549
-----------
FORM S-8
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
-----------
LENNOX INTERNATIONAL INC.
(Exact name of Registrant as specified in its charter)
DELAWARE 42-0991521
(State or other jurisdiction (I.R.S. Employer
of incorporation or organization) Identification Number)
2140 LAKE PARK BLVD., RICHARDSON, TEXAS 75080
(Address of principal executive offices, including zip code)
-----------
1998 INCENTIVE PLAN OF LENNOX INTERNATIONAL INC.
(Full Title of the Plan)
-----------
CARL E. EDWARDS
EXECUTIVE VICE PRESIDENT,
GENERAL COUNSEL AND SECRETARY
LENNOX INTERNATIONAL INC.
2140 LAKE PARK BLVD.
RICHARDSON, TEXAS 75080
(Name and address of agent for service)
(972) 497-5000
(Telephone number, including area code, of agent for service)
-----------
COPY TO:
Andrew M. Baker
Baker & Botts, L.L.P.
2001 Ross Avenue
Dallas, Texas 75201
(214) 953-6500
-----------
CALCULATION OF REGISTRATION FEE
<TABLE>
<CAPTION>
=========================================================================================================================
Proposed maximum Proposed maximum
Title of securities Amount to be offering price per aggregate offering Amount of registration
to be registered registered share (1) price (1) fee
- -------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Common Stock, par value
$0.01 per share 4,603,500 shares $20.00 $92,070,000 $25,596
=========================================================================================================================
</TABLE>
(1) Calculated pursuant to Rule 457(h) based on the estimate of the maximum
initial public offering price for the Common Stock as disclosed in the
Registration Statement on Form S-1 (Registration No. 333-75725) of
Lennox International Inc.
<PAGE> 2
PART I
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
Note: The document(s) containing the information concerning the 1998
Incentive Plan of Lennox International Inc. (the "Plan") required by Item 1 of
Form S-8 and the statement of availability of registrant information, Plan
information and other information required by Item 2 of Form S-8 will be sent or
given to employees as specified by Rule 428 under the Securities Act of 1933, as
amended ("Securities Act"). In accordance with Rule 428 and the requirements of
Part I of Form S-8, such documents are not being filed with the Securities and
Exchange Commission (the "Commission") either as part of this Registration
Statement or as prospectuses or prospectus supplements pursuant to Rule 424.
Lennox International Inc. (the "Company") shall maintain a file of such
documents in accordance with the provisions of Rule 428. Upon request, the
Company shall furnish to the Commission or its staff a copy or copies of any or
all of the documents included in such file.
I-1
<PAGE> 3
PART II
ITEM 3. INCORPORATION OF DOCUMENTS BY REFERENCE.
The following documents heretofore filed by the Company with the
Commission are incorporated herein by reference:
(1) The Company's latest prospectus filed with the Commission on July
29, 1999 pursuant to Rule 424(b) under the Securities Act.
(2) The description of the capital stock of the Company contained in
the Company's Registration Statement on Form S-1 (Registration No. 333-75725)
(the "S-1").
All documents filed by the Company with the Commission pursuant to
Sections 13(a), 13(c), 14 and 15(d) of the Securities Exchange Act of 1934, as
amended (the "Exchange Act"), subsequent to the date of this Registration
Statement and prior to the filing of a post-effective amendment to this
Registration Statement that indicates that all securities offered hereby have
been sold or that deregisters all securities then remaining unsold, shall be
deemed to be incorporated in this Registration Statement by reference and to be
a part hereof from the date of filing of such documents.
Any statement contained in this Registration Statement, in an amendment
hereto or in a document incorporated by reference herein shall be deemed
modified or superseded for purposes of this Registration Statement to the extent
that a statement contained herein, in any subsequently filed supplement to this
Registration Statement or any document that is also incorporated by reference
herein modifies or supersedes such statement. Any statement so modified or
superseded shall not be deemed, except as so modified or superseded, to
constitute a part of this Registration Statement.
ITEM 4. DESCRIPTION OF SECURITIES.
Not applicable.
ITEM 5. INTERESTS OF NAMED EXPERTS AND COUNSEL.
Not applicable.
ITEM 6. INDEMNIFICATION OF DIRECTORS AND OFFICERS.
Set forth below is a description of certain provisions of the Restated
Certificate of Incorporation of the Company (the "Certificate"), the Amended and
Restated Bylaws of the Company (the "Bylaws"), Indemnification Agreements (the
"Indemnification Agreements") the Company has entered into with its directors
and certain of its officers (the "Indemnitees") and the Delaware General
Corporation Law (the "DGCL"). This description is intended as a summary only
II-1
<PAGE> 4
and is qualified in its entirety by reference to the Certificate, the Bylaws and
the Indemnification Agreements, copies of which have been filed as exhibits to
the Company's S-1, and by reference to the DGCL.
Delaware General Corporation Law
Section 145(a) of the DGCL provides that a corporation may indemnify
any person who was or is a party or is threatened to be made a party to any
threatened, pending or completed action, suit or proceeding, whether civil,
criminal, administrative or investigative (other than an action by or in the
right of the corporation) by reason of the fact that the person is or was a
director, officer, employee or agent of the corporation, or is or was serving at
the request of the corporation as a director, officer, employee or agent of
another corporation, partnership, joint venture, trust or other enterprise
against expenses (including attorneys' fees), judgments, fines and amounts paid
in settlement actually and reasonably incurred by such person in connection with
such action, suit or proceeding if the person acted in good faith and in a
manner the person reasonably believed to be in or not opposed to the best
interests of the corporation, and, with respect to any criminal action or
proceeding, had no reasonable cause to believe the person's conduct was
unlawful.
Section 145(b) of the DGCL provides that a corporation may indemnify
any person who was or is a party or is threatened to be made a party to any
threatened, pending or completed action or suit by or in the right of the
corporation to procure a judgment in its favor by reason of the fact that the
person is or was a director, officer, employee or agent of the corporation, or
is or was serving at the request of the corporation as a director, officer,
employee or agent of another corporation, partnership, joint venture, trust or
other enterprise against expenses (including attorneys' fees) actually and
reasonably incurred by the person in connection with the defense or settlement
of such action or suit if the person acted in good faith and in a manner the
person reasonably believed to be in or not opposed to the best interests of the
corporation and except that no indemnification shall be made in respect of any
claim, issue or matter as to which such person shall have been adjudged to be
liable to the corporation unless and only to the extent that the Delaware Court
of Chancery or the court in which such action or suit was brought shall
determine upon application that, despite the adjudication of liability but in
view of all the circumstances of the case, such person is fairly and reasonably
entitled to indemnity for such expenses which the Delaware Court of Chancery or
such other court shall deem proper.
Section 145(c) of the DGCL provides that to the extent that a present
or former director or officer of a corporation has been successful on the merits
or otherwise in defense of any action, suit or proceeding referred to in Section
145(a) and (b), or in defense of any claim, issue or matter therein, such person
shall be indemnified against expenses (including attorneys' fees) actually and
reasonably incurred by such person in connection therewith.
Section 145(d) of the DGCL provides that any indemnification under
Section 145(a) and (b) (unless ordered by a court) shall be made by the
corporation only as authorized in the specific case upon a determination that
indemnification of the present or former director, officer, employee or
II-2
<PAGE> 5
agent is proper in the circumstances because he has met the applicable standard
of conduct set forth in Section 145(a) and (b). Such determination shall be
made, with respect to a person who is a director or officer at the time of such
determination, (1) by a majority vote of the directors who were not parties to
such action, suit or proceeding, even though less than a quorum, or (2) by a
committee of such directors designated by majority vote of such directors, even
though less than a quorum, or (3) if there are no such directors, or if such
directors so direct, by independent legal counsel in a written opinion, or (4)
by the stockholders.
Section 145(e) of the DGCL provides that expenses (including attorneys'
fees) incurred by an officer or director in defending any civil, criminal,
administrative or investigative action, suit or proceeding may be paid by the
corporation in advance of the final disposition of such action, suit or
proceeding upon receipt of an undertaking by or on behalf of such director or
officer to repay such amount if it shall ultimately be determined that such
person is not entitled to be indemnified by the corporation as authorized in
Section 145. Such expenses (including attorneys' fees) incurred by former
directors and officers or other employees and agents may be so paid upon such
terms and conditions, if any, as the board of directors deems appropriate.
Section 145(f) of the DGCL provides that the indemnification and
advancement of expenses provided by, or granted pursuant to, Section 145 shall
not be deemed exclusive of any other rights to which those seeking
indemnification or advancement of expenses may be entitled under any bylaw,
agreement, vote of stockholders or disinterested directors or otherwise, both as
to action in such person's official capacity and as to action in another
capacity while holding such office.
Section 145(g) of the DGCL provides that a corporation shall have the
power to purchase and maintain insurance on behalf of any person who is or was a
director, officer, employee or agent of the corporation, or is or was serving at
the request of the corporation as a director, officer, employee or agent of
another corporation, partnership, joint venture, trust or other enterprise
against any liability asserted against such person and incurred by such person
in any such capacity, or arising out of such person's status as such, whether or
not the corporation would have the power to indemnify such person against such
liability under Section 145.
Section 102(b)(7) of the DGCL provides that the liability of a director
may not be limited or eliminated for the breach of such director's duty of
loyalty to the corporation or its stockholders, for such director's intentional
acts or omissions not in good faith, for such director's concurrence in or vote
for an unlawful payment of a dividend or unlawful stock purchase or redemption
or for any improper personal benefit derived by the director from any
transaction.
The Certificate
Article Eighth of the Certificate provides that a director of the
Company shall not be liable to the Company or its stockholders for monetary
damages for breach of fiduciary duty as a director, except to the extent such
exemption from liability or limitation thereof is not permitted under the DGCL
as the same exists or may hereafter be amended. Any repeal or modification of
Article
II-3
<PAGE> 6
Eighth shall not adversely affect any right or protection of a director of the
Company existing thereunder with respect to any act or omission occurring prior
to such repeal or modification.
The Bylaws
Article VI of the Bylaws provides that each person who at any time
shall serve or shall have served as a director or officer of the Company, or any
person who, while a director or officer of the Company, is or was serving at the
request of the Company as a director or officer of another corporation,
partnership, joint venture, trust or other enterprise, shall be entitled to (a)
indemnification and (b) the advancement of expenses incurred by such person from
the Company as, and to the fullest extent, permitted by Section 145 of the DGCL
or any successor statutory provision, as from time to time amended. The Company
may indemnify any other person, to the same extent and subject to the same
limitations specified in the immediately preceding sentence, by reason of the
fact that such other person is or was an employee or agent of the Company or
another corporation, partnership, joint venture, trust or other enterprise.
The indemnification and advancement of expenses provided by, or granted
pursuant to, Article VI shall not be deemed exclusive of any other rights to
which any person seeking indemnification or advancement of expenses may be
entitled under any bylaw of the Company, agreement, vote of stockholders or
disinterested directors or otherwise, both as to action in such person's
official capacity and as to action in another capacity while holding such
office. All rights to indemnification under Article VI shall be deemed to be
provided by a contract between he Company and the director, officer, employee or
agent who served in such capacity at any time while the bylaws of he Company and
other relevant provisions of the DGCL and other applicable law, if any, are in
effect. Any repeal or modification thereof shall not affect any rights or
obligations then existing. Without limiting the provisions of Article VI, the
Company is authorized from time to time, without further action by the
stockholders of the Company, to enter into agreements with any director or
officer of the Company providing such rights of indemnification as the Company
may deem appropriate, up to the maximum extent permitted by law. Any agreement
entered into by the Company with a director may be authorized by the other
directors, and such authorization shall not be invalid on the basis that similar
agreements may have been or may thereafter be entered into with other directors.
Insurance
The Company may purchase and maintain insurance on behalf of any person
who is or was a director, officer, employee or agent of the Company, or is or
was serving at the request of the Company as a director, officer, employee or
agent of another corporation, partnership, joint venture, trust or other
enterprise, against any liability asserted against such person and incurred by
such person in any such capacity, or arising out of such person's status as
such, whether or not the Company would have the power to indemnify such person
against such liability under the applicable provisions of Article VI of the
Bylaws or the DGCL.
II-4
<PAGE> 7
Indemnification Agreements
The Company has entered into indemnification agreements (the
"Indemnification Agreements") with its directors and certain of its executive
officers (collectively, the "Indemnitees"). Under the terms of the
Indemnification Agreements, the Company has generally agreed to indemnify, and
advance expenses to, each Indemnitee to the fullest extent permitted by
applicable law on the date of the agreements and to such greater extent as
applicable law may thereafter permit. In addition, the Indemnification
Agreements contain specific provisions pursuant to which the Company has agreed
to indemnify each Indemnitee (i) if such person is, by reason of his or her
status as a director, nominee for director, officer, agent or fiduciary of the
Company or of any other corporation, partnership, joint venture, trust, employee
benefit plan or other enterprise with which such person was serving at the
request of the Company (any such status being referred to as a "Corporate
Status") made or threatened to be made a party to any threatened, pending or
completed action, suit, arbitration, alternative dispute resolution mechanism,
investigation or other proceeding (each, a "Proceeding"), other than a
proceeding by or in the right of the Company; (ii) if such person is, by reason
of his or her Corporate Status, made or threatened to be made a party to any
Proceeding brought by or in the right of the Company to procure a judgment in
its favor, except that no indemnification shall be made in respect of any claim,
issue or matter in such Proceeding as to which such Indemnitee shall have been
adjudged to be liable to the Company if applicable law prohibits such
indemnification, unless and only to the extent that a court shall otherwise
determine; (iii) against expenses actually and reasonably incurred by such
person or on his or her behalf in connection with any Proceeding to which such
Indemnitee was or is a party by reason of his or her Corporate Status and in
which such Indemnitee is successful, on the merits or otherwise; (iv) against
expenses actually and reasonably incurred by such person or on his or her behalf
in connection with a Proceeding to the extent that such Indemnitee is, by reason
of his or her Corporate Status, a witness or otherwise participates in any
Proceeding at a time when such person is not a party in the Proceeding; and (v)
against expenses actually and reasonably incurred by such person in any judicial
adjudication of or any award in arbitration to enforce his or her rights under
the Indemnification Agreements.
In addition, under the terms of the Indemnification Agreements, the
Company has agreed to pay all reasonable expenses incurred by or on behalf of an
Indemnitee in connection with any Proceeding, whether brought by or in the right
of the Company or otherwise, in advance of any determination with respect to
entitlement to indemnification and within 15 days after the receipt by the
Company of a written request from such Indemnitee for such payment. In the
Indemnification Agreements, each Indemnitee has agreed that he or she will
reimburse and repay the Company for any expenses so advanced to the extent that
it shall ultimately be determined that he or she is not entitled to be
indemnified by the Company against such expenses.
The Indemnification Agreements also include provisions that specify the
procedures and presumptions which are to be employed to determine whether an
Indemnitee is entitled to indemnification thereunder. In some cases, the nature
of the procedures specified in the Indemnification Agreements varies depending
on whether there has occurred a "Change in Control" (as defined in the
Indemnification Agreements) of the Company.
II-5
<PAGE> 8
ITEM 7. EXEMPTIONS FROM REGISTRATION CLAIMED.
Not applicable.
ITEM 8. EXHIBITS.
4.1 Restated Certificate of Incorporation of the Company,
as amended (filed as Exhibit 3.1 to the S-1 and incorporated
herein by reference)
4.2 Amended and Restated Bylaws of the Company (filed as
Exhibit 3.2 to the S-1 and incorporated herein by reference)
4.3 Specimen of certificate representing Common Stock, par
value $0.01 per share, of the Company (filed as Exhibit 4.1
to the S-1 and incorporated herein by reference)
4.4 1998 Incentive Plan of Lennox International Inc. (filed
as Exhibit 10.8 to the S-1 and incorporated herein by
reference)
5 Opinion of Baker & Botts, L.L.P.
23.1 Consent of Arthur Andersen LLP.
23.2 Consent of Baker & Botts, L.L.P. (included in Exhibit 5)
24 Power of Attorney (included on the execution page of this
Registration Statement)
ITEM 9. UNDERTAKINGS.
(a) The Company hereby undertakes:
(1) To file, during any period in which offers or sales are
being made, a post-effective amendment to this Registration Statement:
(i) To include any prospectus required by
Section 10(a)(3) of the Securities Act;
(ii) To reflect in the prospectus any facts or events
arising after the effective date of this Registration
Statement (or the most recent post-effective amendment
thereof), which, individually or in the aggregate, represent a
fundamental change in the information set forth in this
Registration Statement. Notwithstanding the foregoing, any
increase or decrease in volume of securities offered (if the
total dollar value of securities offered would not exceed that
which was registered) and
II-6
<PAGE> 9
any deviation from the low or high end of the estimated
maximum offering range may be reflected in the form of
prospectus filed with the Commission pursuant to Rule 424(b)
if, in the aggregate, the changes in volume and price
represent no more than a 20% change in the maximum aggregate
offering price set forth in the "Calculation of Registration
Fee" table in the effective Registration Statement;
(iii) To include any material information with
respect to the plan of distribution not previously disclosed
in this Registration Statement or any material change to such
information in this Registration Statement;
Provided, however, that paragraphs (a)(1)(i) and (a)(1)(ii) do
not apply if the information required to be included in a
post-effective amendment by those paragraphs is contained in periodic
reports filed with or furnished to the Commission by the Company
pursuant to Section 13 or Section 15(d) of the Exchange Act that are
incorporated by reference in this Registration Statement.
(2) That, for the purpose of determining any liability under
the Securities Act, each such post-effective amendment shall be deemed
to be a new registration statement relating to the securities offered
therein, and the offering of such securities at that time shall be
deemed to be the initial bona fide offering thereof.
(3) To remove from registration by means of a post-effective
amendment any of the securities being registered which remain unsold at
the termination of the offering.
(b) The Company hereby undertakes that, for purposes of determining any
liability under the Securities Act, each filing of the Company's annual report
pursuant to Section 13(a) or Section 15(d) of the Exchange Act (and, where
applicable, each filing of an employee benefit plan's annual report pursuant to
Section 15(d) of the Exchange Act) that is incorporated by reference in this
Registration Statement shall be deemed to be a new registration statement
relating to the securities offered therein, and the offering of such securities
at that time shall be deemed to be the initial bona fide offering thereof.
(c) Insofar as indemnification for liabilities arising under the
Securities Act may be permitted to directors, officers and controlling persons
of the Company pursuant to the foregoing provisions, or otherwise, the Company
has been advised that in the opinion of the Commission such indemnification is
against public policy as expressed in the Securities Act and is, therefore
unenforceable. In the event that a claim for indemnification against such
liabilities (other than the payment by the Company of expenses incurred or paid
by a director, officer or controlling person of the Company in the successful
defense of any action, suit or proceeding) is asserted by such director, officer
or controlling person in connection with the securities being registered, the
Company will, unless in the opinion of its counsel the matter has been settled
by controlling precedent, submit to a court of appropriate jurisdiction the
question whether such indemnification by it is against public policy as
expressed in the Securities Act and will be governed by the final adjudication
of such issue.
II-7
<PAGE> 10
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the
registrant certifies that it has reasonable grounds to believe that it meets all
of the requirements for filing this Registration Statement on Form S-8 and has
duly caused this Registration Statement to be signed on its behalf by the
undersigned, thereunto duly authorized, in the City of Richardson, State of
Texas, on this 29th day of July, 1999.
LENNOX INTERNATIONAL INC.
By: /s/ John W. Norris, Jr.
-------------------------------------
John W. Norris, Jr.
Chairman of the Board and Chief Executive
Officer
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS, that each of the undersigned directors
and officers of Lennox International Inc., a Delaware corporation, which is
filing a Registration Statement on Form S-8 with the Securities and Exchange
Commission under the provisions of the Securities Act of 1933, hereby
constitutes and appoints John W. Norris, Jr., Carl E. Edwards, Jr. and Clyde W.
Wyant, and each of them, his true and lawful attorneys-in-fact and agents, with
full power of substitution and resubstitution, for him and in his name, place
and stead, and in any and all capacities, to sign and file any and all
amendments to this Registration Statement on Form S-8, with all exhibits
thereto, and other documents in connection therewith, with the Securities and
Exchange Commission, it being understood that said attorneys-in-fact and agents,
and each of them, shall have full power and authority to do and perform each and
every act and thing requisite and necessary to be done in and about the
premises, as fully to all intents and purposes as he might or could do in
person, and that each of the undersigned hereby ratifies and confirms all that
said attorneys-in-fact as agents or any of them, or their substitute or
substitutes, may lawfully do or cause to be done by virtue hereof.
Pursuant to the requirements of the Securities Act of 1933, as amended,
this Registration Statement has been signed by the following persons in the
capacities indicated on July 29, 1999.
II-8
<PAGE> 11
<TABLE>
<CAPTION>
SIGNATURE TITLE
<S> <C>
/s/ John W. Norris, Jr. Chairman of the Board
- -------------------------------- and Chief Executive
John W. Norris, Jr. Principal Executive Officer)
/s/ Clyde W. Wyant Executive Vice President,
- -------------------------------- Chief Financial Officer and Treasurer
Clyde W. Wyant (Principal Financial Officer)
/s/ John J. Hubbuch Vice President, Controller
- -------------------------------- and Chief Accounting Officer
John J. Hubbuch (Principal Accounting Officer)
/s/ Linda G. Alvarado Director
- -------------------------------
Linda G. Alvarado
/s/ David H. Anderson Director
- --------------------------------
David H. Anderson
/s/ Richard W. Booth Director
- -------------------------------
Richard W. Booth
/s/ Thomas W. Booth Director
- -------------------------------
Thomas W. Booth
/s/ David V. Brown Director
- -------------------------------
David V. Brown
/s/ James J. Byrne Director
- -------------------------------
James J. Byrne
</TABLE>
II-9
<PAGE> 12
/s/ Janet K. Cooper Director
- -------------------------------
Janet K. Cooper
/s/ John E. Major Director
- -------------------------------
John E. Major
/s/ Donald E. Miller Director
- -------------------------------
Donald E. Miller
/s/ Terry D. Stinson Director
- -------------------------------
Terry D. Stinson
/s/ Richard L. Thompson Director
- -------------------------------
Richard L. Thompson
II-10
<PAGE> 13
EXHIBIT INDEX
<TABLE>
<CAPTION>
EXHIBIT
NUMBER DESCRIPTION
<S> <C>
4.1 Restated Certificate of Incorporation of the Company,
as amended (filed as Exhibit 3.1 to the S-1 and
incorporated herein by reference)
4.2 Amended and Restated Bylaws of the Company (filed as
Exhibit 3.2 to the S-1 and Incorporated herein by
reference)
4.3 Specimen of certificate representing Common Stock,
par value $0.01 per share, of the Company (filed as
Exhibit 4.1 to the S-1 and incorporated herein by reference)
4.4 1998 Incentive Plan of Lennox International Inc. (filed
as Exhibit 10.8 to the S-1 and incorporated herein by
reference)
5 Opinion of Baker & Botts, L.L.P.
23.1 Consent of Arthur Andersen LLP.
23.2 Consent of Baker & Botts, L.L.P. (included in Exhibit 5)
24 Power of Attorney (included on the execution page of this
Registration Statement)
</TABLE>
<PAGE> 1
EXHIBIT 5
BAKER & BOTTS, L.L.P.
2001 Ross Avenue
Dallas, Texas 75201
July 29, 1999
Lennox International Inc.
2140 Lake Park Blvd.
Richardson, Texas 75080
Ladies and Gentlemen:
As set forth in the Registration Statement on Form S-8 (the
"Registration Statement") to be filed by Lennox International Inc., a Delaware
corporation (the "Company"), with the Securities and Exchange Commission under
the Securities Act of 1933, as amended (the "Securities Act"), relating to the
offering of up to 4,603,500 shares (the "Shares") of the common stock, par value
$0.01 per share ("Common Stock"), of the Company, pursuant to the 1998 Incentive
Plan of Lennox International Inc. (the "Plan"), certain legal matters in
connection with the Shares are being passed upon for the Company by us. At your
request, this opinion is being furnished to you for filing as Exhibit 5 to the
Registration Statement.
In our capacity as counsel to the Company in the connection
referenced above, we have examined the Company's Restated Certificate of
Incorporation and Amended and Restated Bylaws, each as amended to date, and the
Plan, and have examined the originals, or copies certified or otherwise
identified, of corporate records of the Company, including minute books of the
Company as furnished to us by the Company, certificates of public officials and
of representatives of the Company, statutes and other instruments and documents
as a basis for the opinions hereinafter expressed.
We have assumed that all signatures on all documents examined
by us are genuine, that all documents submitted to us as originals are
authentic, that all documents submitted to us as copies are true and correct
copies of the originals thereof and that all information submitted to us was
accurate and complete.
Based upon our examination as aforesaid, and subject to the
assumptions, qualifications, limitations and exceptions herein set forth, we are
of the opinion that:
<PAGE> 2
Lennox International Inc. -2- July 29, 1999
1. The Company is a corporation duly incorporated and validly
existing in good standing under the laws of the State of Delaware.
2. When issued and sold from time to time in accordance with
the provisions of the Plan (and any applicable agreements pertaining to
awards granted or to be granted under the Plan) pursuant to awards
granted by, and for consideration fixed by, the Committee of the Board
of Directors of the Company charged with administering the Plan, the
Shares will be duly authorized by all necessary corporate action on the
part of the Company, validly issued, fully paid and nonassessable.
The opinions set forth above are limited to the General
Corporation Law of the State of Delaware, and no opinion is expressed herein as
to matters governed by the law of any other jurisdiction.
We hereby consent to the filing of this opinion as an exhibit
to the Registration Statement.
Very truly yours,
/s/ BAKER & BOTTS, L.L.P.
Baker & Botts, L.L.P.
<PAGE> 1
EXHIBIT 23.1
CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS
As independent public accountants, we hereby consent to the incorporation by
reference in this registration statement of our reports dated February 18, 1999,
included in Lennox International Inc.'s registration statement on Form S-1
(Registration No. 333-75725), and to all references to our Firm included in or
made a part of this registration statement.
ARTHUR ANDERSEN LLP
Dallas, Texas
July 28, 1999
