<PAGE> 1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D/A
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 24 )*
----
Anixter International Inc.
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(NAME OF ISSUER)
Common Stock, par value $1.00 per value
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(TITLE OF CLASS OF SECURITIES)
035290 10 5
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(CUSIP NUMBER)
Sheli Z. Rosenberg, Equity Group Investments, L.L.C.
Two N. Riverside Plaza, Suite 600, Chicago, IL 60606 (312) 466-3990
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(NAME, ADDRESS AND TELEPHONE NUMBER OF PERSON AUTHORIZED TO RECEIVE NOTICES AND
COMMUNICATIONS)
December 3, 1999
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(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 [ ].
*The remainder of this cover page shall be filled our 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 1 of 17
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CUSIP No. 035290 10 5 13D Page 2 of 17
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1 NAME OF REPORTING PERSON S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
SZRL Investments
36-6561094
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) OR 2(e)
[ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Illinois
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7 SOLE VOTING POWER
NUMBER OF
SHARES 570,000
BENEFICIALLY -----------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH REPORTING
PERSON WITH
-----------------------------------------------------------
9 SOLE DISPOSITIVE POWER
570,000
-----------------------------------------------------------
10 SHARED DISPOSITIVE POWER
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
570,000
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12 CHECK BOX IF AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.6%
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14 TYPE OF REPORTING PERSON*
PN
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*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE> 3
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CUSIP No. 035290 10 5 13D Page 3 of 17
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1 NAME OF REPORTING PERSON S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Robert H. and Ann Lurie Trust
36-6944487
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) OR 2(e)
[ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Illinois
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7 SOLE VOTING POWER
NUMBER OF
SHARES 2,327,379
BENEFICIALLY -----------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH REPORTING
PERSON WITH
-----------------------------------------------------------
9 SOLE DISPOSITIVE POWER
2,327,379
-----------------------------------------------------------
10 SHARED DISPOSITIVE POWER
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,327,379
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12 CHECK BOX IF AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.4%
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14 TYPE OF REPORTING PERSON*
OO
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*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE> 4
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CUSIP No. 035290 10 5 13D Page 4 of 17
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1 NAME OF REPORTING PERSON S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Samstock/SZRT, L.L.C.
###-##-####
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) OR 2(e)
[ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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7 SOLE VOTING POWER
NUMBER OF
SHARES 0
BENEFICIALLY -----------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH REPORTING
PERSON WITH
-----------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
-----------------------------------------------------------
10 SHARED DISPOSITIVE POWER
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
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12 CHECK BOX IF AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0%
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14 TYPE OF REPORTING PERSON*
OO
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*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE> 5
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CUSIP No. 035290 10 5 13D Page 5 of 17
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1 NAME OF REPORTING PERSON S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Samuel Zell
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) OR 2(e)
[ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
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7 SOLE VOTING POWER
NUMBER OF
SHARES 156,334
BENEFICIALLY -----------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH REPORTING
PERSON WITH
-----------------------------------------------------------
9 SOLE DISPOSITIVE POWER
156,334
-----------------------------------------------------------
10 SHARED DISPOSITIVE POWER
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
156,334
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12 CHECK BOX IF AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
.4%
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14 TYPE OF REPORTING PERSON*
IN
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*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE> 6
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CUSIP No. 035290 10 5 13D Page 6 of 17
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1 NAME OF REPORTING PERSON S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Samstock, L.L.C.
36-4156890
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) OR 2(e)
[ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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7 SOLE VOTING POWER
NUMBER OF
SHARES 81,637
BENEFICIALLY -----------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH REPORTING
PERSON WITH
-----------------------------------------------------------
9 SOLE DISPOSITIVE POWER
81,637
-----------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
81,637
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12 CHECK BOX IF AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
.2%
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14 TYPE OF REPORTING PERSON*
OO
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*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE> 7
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CUSIP No. 035290 10 5 13D Page 7 of 17
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1 NAME OF REPORTING PERSON S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Anda Partnership
88-0132846
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) OR 2(e)
[ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Nevada
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7 SOLE VOTING POWER
NUMBER OF
SHARES 26,668
BENEFICIALLY -----------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH REPORTING
PERSON WITH
-----------------------------------------------------------
9 SOLE DISPOSITIVE POWER
26,668
-----------------------------------------------------------
10 SHARED DISPOSITIVE POWER
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
26,668
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12 CHECK BOX IF AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
.07%
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14 TYPE OF REPORTING PERSON*
PN
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*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE> 8
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CUSIP No. 035290 10 5 13D Page 8 of 17
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1 NAME OF REPORTING PERSON S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
LFT Partnership
36-6527526
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) OR 2(e)
[ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Illinois
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7 SOLE VOTING POWER
NUMBER OF
SHARES 26,668
BENEFICIALLY -----------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH REPORTING
PERSON WITH
-----------------------------------------------------------
9 SOLE DISPOSITIVE POWER
26,668
-----------------------------------------------------------
10 SHARED DISPOSITIVE POWER
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
26,668
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12 CHECK BOX IF AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
.07%
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14 TYPE OF REPORTING PERSON*
PN
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*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE> 9
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CUSIP No. 035290 10 5 13D Page 9 of 17
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1 NAME OF REPORTING PERSON S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Samstock/SIT, L.L.C.
36-6934216
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) OR 2(e)
[ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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7 SOLE VOTING POWER
NUMBER OF
SHARES 4,840,913
BENEFICIALLY -----------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH REPORTING
PERSON WITH
-----------------------------------------------------------
9 SOLE DISPOSITIVE POWER
4,840,913
-----------------------------------------------------------
10 SHARED DISPOSITIVE POWER
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,840,913
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12 CHECK BOX IF AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13.4%
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14 TYPE OF REPORTING PERSON*
OO
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*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE> 10
ONLY THOSE ITEMS AMENDED ARE REPORTED HEREIN.
CAPITALIZED TERMS NOT OTHERWISE DEFINED HEREIN SHALL HAVE
THE SAME MEANING AS THEY HAVE IN THE INITIAL
SCHEDULE 13D AND AMENDMENTS THERETO.
Item 2. Identify and Background
Item 2 (a) - (c) and (f) is amended to add Samstock/SIT, L.L.C., a
Delaware limited liability ("Samstock/SIT") as a Reporting Person:
Samstock/SIT is a Delaware limited liability company whose sole
member is Chai Trust Company, L.L.C., an Illinois limited liability
company ("Chai"), as trustee of the Sam Investment Trust. The
beneficiaries of the Sam Investment Trust are Samuel Zell and members
of his family.
The board of directors of Chai are: Kellie Zell; Matthew Zell; Jo Ann
Zell; Sheli Z. Rosenberg; Donald J. Liebentritt; Leah Zell; and Bert
Cohen.
The officers of Chai are: Sheli Z. Rosenberg, President and Chief
Executive Officer; Donald J. Liebentritt, Vice President; Robert M.
Levin, Senior Trust Officer; and John Zoeller, Vice President,
Treasurer, Chief Financial Officer and Assistant Trust Officer.
The officers of Samstock/SIT are: Samuel Zell, President; Rod F.
Dammeyer, Vice President; Donald J. Liebentritt, Vice President;
Sheli Z. Rosenberg, Vice President and Greg Stegeman, Treasurer.
The principal business of Samstock/SIT is investments and the
principal business of Chai is to manage trusts.
Following are the principal occupations of the directors and officers
of Chai and the officers of Samstock/SIT: Kellie Zell is currently
not employed; Matthew Zell is President of Pro-Net Solutions, Inc., a
retailer of computer-related equipment; Jo Ann Zell is a physician;
Sheli Z. Rosenberg is President and Chief Executive Officer of Equity
Group Investments, L.L.C., ("EGI") a private investment company;
Donald J. Liebentritt is Chief Operating Officer of EGI; Leah Zell is
an investment portfolio manager with Wanger Asset Management; Bert
Cohen is a self-employed investment executive; Robert M. Levin is an
attorney; John Zoeller is Vice President - Taxes of EGI; Samuel Zell
is Chairman of EGI; Rod F. Dammeyer is Managing Director of EGI
Corporate Investments, a division of EGI; and Greg Stegeman is Vice
President and Treasurer of EGI. All of the above are citizens of the
United States of America.
(d) and (e) None of the Reporting Persons, and to the best knowledge
of the Reporting Persons any of the persons listed above, has during
the last five years (i) been convicted in a criminal proceeding
(excluding traffic violations or similar misdemeanors) or (ii) been a
party to a civil proceeding of a judicial or administrative body of
competent jurisdiction and, as a result of such proceeding, was or
is, subject to a judgment, decree or final order enjoining future
violations of, or prohibiting or mandatory activities subject to,
federal or state securities laws or finding any violation with
respect to such laws.
Page 10 of 17
<PAGE> 11
Item 3. Source and Amount of Funds or Other Consideration
and
Item 5. Interest in Securities of the Issuer
Items 3. and 5. are amended to add the following:
The following transactions have occurred in the last 60 days:
1) On October 20, 1999, SZRL distributed 220,000 shares to its two
partners, 110,000 Shares to the Zell Trust and 110,000 Shares to
the Lurie Trust. The Zell Trust then contributed the 110,000
Shares to Samstock/SZRT.
2) On December 3, 1999, Samstock/SZRT sold the 4,840,913 Shares it
beneficially owned to Samstock/SIT at $19.625 per share for total
consideration of $95,002,917. The purchase and sale were done for
Samuel Zell's personal planning purposes. The source of the funds
was Samstock/SIT's working capital. A copy of the Purchase
Agreement between Samstock/SZRT and Samstock/SIT is attached
hereto as Exhibit 2.
As of the date hereof, there are 36,151,608 shares issued and
outstanding. The 8,029,599 Shares of the Reporting Persons (including
156,334 Shares obtainable by Samuel Zell upon the exercise of options
to purchase 156,334 Shares which are currently exercisable or
exercisable within 60 days) represent approximately 22% of the Shares
which would be issued and outstanding upon the exercise of such
options. Of such 8,029,599 Shares, 570,000 or 1.6% are beneficially
owned by SZRL; 2,327,379 or 6.4% are beneficially owned by the Lurie
Trust; 156,334 or .4% are beneficially owned by Samuel Zell; 81,637
or .2% are beneficially owned by Samstock; 26,668 or .07% are
beneficially owned by Anda; 26,668 or .07% are beneficially owned
LFT; and 4,840,913 or 13.4% are beneficially owned by Samstock/SIT.
SZRL has the sole power to vote or to direct the vote of and the sole
power to dispose or to direct the disposition of the Shares
beneficially owned it. The Lurie Trust has the sole power to vote or
to direct the vote of and the sole power to dispose or to direct the
disposition of the Shares beneficially owned by it. Samstock has
the sole power to vote or to direct the vote of and the sole power to
dispose or to direct the disposition of the Shares beneficially owned
by it. Mr. Zell has the sole power to vote or to direct the vote of
(assuming the exercise of the options to purchase Shares beneficially
owned by Mr. Zell) and the sole power to dispose or to direct the
disposition of the Shares beneficially owned by him (assuming the
exercise of the options to purchase Shares beneficially owned by
him). Anda has the sole power to vote or to direct the vote of and
the sole power to dispose or to direct the disposition of the Shares
beneficially owned by it. LFT has the sole power to vote or to direct
the vote of and the sole power to dispose or to direct the
disposition of the Shares beneficially owned by it. Samstock/SIT has
the sole power to vote or to direct the vote of and the sole power to
dispose or to direct the disposition of the Shares beneficially owned
by it.
Page 11 of 17
<PAGE> 12
Item 6. Contracts, Arrangements or Understandings With Respect to Securities
of the Issuer.
Item 6. is hereby amended to add the following:
On December 3, 1999, Samstock/SZRT and Samstock/SIT entered into a
Purchase Agreement for the sale by Samstock/SZRT of 4,840,913 Shares
to Samstock/SIT.
Item 7. Exhibits
Item 7. is hereby amended to add the following:
Exhibit 2 Purchase Agreement dated December 3, 1999 between
Samstock/SZRT and Samstock/SIT.
SIGNATURES
After reasonable inquiry, and the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
DATED: December 16, 1999
SZRL INVESTMENTS, an Illinois general
partnership
BY: Samuel Zell Revocable Trust under
agreement dated January 17, 1990, a general partner
BY: /s/ Samuel Zell
----------------------------------------------
Samuel Zell, Trustee
SAMSTOCK/SZRT, L.L.C.
BY: Samuel Zell Revocable Trust under
agreement dated January 17, 1990, its sole member
BY: /s/ Samuel Zell
----------------------------------------------
Samuel Zell, Trustee
ROBERT H. AND ANN LURIE TRUST
BY: /s/ Ann Lurie
----------------------------------------------
Ann Lurie, Co-Trustee
Page 12 of 17
<PAGE> 13
/s/ Samuel Zell
------------------------------------------------
Samuel Zell
SAMSTOCK, L. L. C., a Delaware limited
liability company
BY: SZ Investments, L. L. C., a Delaware
limited liability company, its sole member
BY: Zell General Partnership, Inc., its sole
managing member
BY: /s/ Samuel Zell
-------------------------------------------
Samuel Zell, President
LFT PARTNERSHIP, an Illinois general partnership
BY: Jesse Trust, a general partner
BY: /s/ Ann Lurie
-------------------------------------------
Ann Lurie, Trustee
ANDA PARTNERSHIP, a Nevada general partnership
BY: Ann Only Trust, a general partner
BY: /s/ Ann Lurie
-------------------------------------------
Ann Lurie, Trustee
AND
BY: Ann and Descendants Trust, a general
partner
BY: /s/ Ann Lurie
-------------------------------------------
Ann Lurie, Trustee
SAMSTOCK/SIT, L.L.C.
BY: /s/ Samuel Zell
-------------------------------------------
Samuel Zell, President
Page 13 of 17
<PAGE> 14
EXHIBIT INDEX
EXHIBIT
NUMBER DESCRIPTION PAGE
------ ----------- ----
1 Agreement dated June 27, 1995 among the Issuer, *
Riverside, Equity and SZRL.
2 Purchase Agreement dated December 3, 1999 15
between Samstock/SZRT and SIT.
* Previously filed
Page 14 of 17
<PAGE> 1
Exhibit 2
PURCHASE AGREEMENT
THIS AGREEMENT made and entered into as of the 3rd day of December,
1999, by and between Samstock/SZRT, L.L.C., a Delaware limited liability company
(referred to herein as "Seller"), and Samstock/SIT, L.L.C., a Delaware limited
liability company (referred to herein as "Purchaser");
WITNESSETH :
WHEREAS, Seller is the owner, free and clear of all liens or
encumbrances, of certain shares of common stock of Anixter International, Inc.,
a Delaware corporation (the "Company"), and Seller desires to sell some of said
shares to Purchaser; and
WHEREAS, Purchaser desires to purchase some of the shares of the
Company's common stock from Seller subject to the terms and conditions stated
herein;
NOW, THEREFORE, for and in consideration of the mutual promises herein
set forth, the receipt and sufficiency of which are hereby acknowledged, it is
hereby agreed as follows:
1. Purchase and Sale. Seller hereby sells to Purchaser and Purchaser
hereby purchases from Seller all of Seller's right, title and interest in and to
Four Million Eight Hundred Forty Thousand Nine Hundred Thirteen (4,840,913)
shares of common stock of the Company (the "Shares").
2. Purchase Price. In full consideration for the purchase hereunder,
Purchaser agrees to pay Seller the sum of Ninety-Five Million Two Thousand Nine
Hundred Seventeen Dollars ($95,002,917), being Nineteen and 625/1000 Dollars
($19.625) per share. The purchase price is the mean between the highest and
lowest quoted selling prices for the Shares on the date hereof.
3. Payment of Purchase Price. Purchaser shall pay the full purchase
price within five (5) days of executing this agreement.
4. Assignment. Simultaneous with the payment of the purchase price,
Seller agrees to deliver to Purchaser one or more certificates for the Shares
together with fully executed stock powers assigning the Shares to Purchaser to
allow Purchaser to transfer the Shares to Purchaser on the corporate records of
the Company.
5. Representations and Warranties of Seller. Seller represents,
warrants and agrees that the following statements are true and correct:
(a) Authority. The Seller has full right, power and authority
to sell the shares to Purchaser.
(b) Title to Shares. Seller owns the Shares free and clear of
any and all liens, claims or encumbrances. The Shares are validly issued, fully
paid and non-assessable.
Page 10 of 17
<PAGE> 2
Exhibit 2
(c) No Breach of Other Agreements. The execution and delivery
of this Agreement, the consummation of the transaction contemplated by this
Agreement, and the fulfillment of the terms of this Agreement will not result in
any breach of the terms and provisions of, or constitute a default under, any
agreement to which Seller is a party or by which Seller is bound.
(d) No Broker or Finder. Seller is not in any way obligated
for a payment of fees or expenses to any broker or finder in connection with the
transaction contemplated by this Agreement.
6. Representations and Warranties of Purchaser. Purchaser represents,
warrants and agrees that the following are true and correct:
(a) No Breach of Other Agreements. The execution and delivery
of this Agreement, the consummation of the transaction contemplated by this
Agreement, and the fulfillment of the terms of this Agreement will not result in
any breach in the terms and provisions of, or constitute a default under, any
agreement to which Purchaser is a party or by which Purchaser is bound.
(b) No Broker or Finder. Purchaser is not in any way obligated
for a payment of fees or expenses to any broker or finder in connection with the
transaction contemplated by this Agreement.
(c) Investment Intent. The Shares are being acquired solely by
and for the account of Purchaser, for investment only, and are not being
purchased for resale or distribution.
7. Further Assurances. Purchaser and Seller agree that each shall, from
time to time upon the reasonable request of the other party, execute,
acknowledge and deliver in proper form any instrument of conveyance or further
assurance necessary or desirable to perfect the consummation of the within
transaction.
8. Construction. The parties hereto agree that all matters pertaining
to the validity, construction and effect of this Agreement shall be determined
in accordance with the laws of the State of Illinois. This Agreement shall be
binding upon and inure to the benefit of the parties hereto and their respective
successors and assigns.
9. Notice. All notices, statements, requests and demands given to or
made upon any party hereto in accordance with the provisions of this Agreement
shall be deemed to have been given or made: (i) if mailed, two business days
after deposit in the mail, postage prepaid; (ii) in the case of delivery via
messenger or nationally recognized courier service, on the date actually
delivered; or (iii) in the case of notice via telecopy, on the date transmitted,
to the last known addresses of the parties or such other addresses at which the
parties shall from time to time notify one another.
Page 11 of 17
<PAGE> 3
10. Counterparts. This Agreement may be executed in any number of
counterpart copies, each of which shall be deemed an original for all purposes,
but all of which shall constitute one and the same agreement.
11. Entire Agreement. This Agreement constitutes the entire agreement
and understanding of Purchaser and Seller, and no contemporaneous or subsequent
oral agreement or statements shall alter or modify the terms and provisions
hereof unless agreed thereto by the parties in writing. There are no promises or
representations upon which any party hereto has relied in the execution of this
Agreement which are not contained herein.
12. Severability. In the event any provision of this Agreement shall be
held invalid or unenforceable by any court of competent jurisdiction, such
holding shall not invalidate or render unenforceable any other provision hereof.
13. Pronouns and Headings. As used herein, all pronouns shall include
the masculine, feminine, neuter, singular and plural thereof wherever the
context and facts require such construction. The headings, titles and subtitles
herein are inserted for convenience of reference only and are to be ignored in
any construction of the provisions hereof.
IN WITNESS WHEREOF, the parties hereto have set their respective hands
as of the date first above written.
SELLER: PURCHASER:
Samstock/SZRT, L.L.C. Samstock/SIT, L.L.C.
By: /s/ Donald J. Liebentritt By: /s/ Sheli Z. Rosenberg
------------------------------------- ----------------------------------
Donald J. Liebentritt, Vice President Sheli Z. Rosenberg, Vice President
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