<PAGE>
As filed with the Securities and Exchange Commission on February 9, 2000
Registration Statement No. 333-90443
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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
----------------
POST-EFFECTIVE AMENDMENT NO. 3
TO
FORM S-3
REGISTRATION STATEMENT
Under
The Securities Act of 1933
----------------
LEGGETT & PLATT, INCORPORATED
(Exact name of Registrant as specified in its charter)
----------------
Missouri 44-0324630
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
No. 1 Leggett Road
Carthage, Missouri 64836
(417) 358-8131
(Address, including zip code, and telephone number, including area code, of
Registrant's principal executive offices)
----------------
Ernest C. Jett
Vice President, General Counsel and Secretary
Leggett & Platt, Incorporated
No. 1 Leggett Road
Carthage, Missouri 64836
(417) 358-8131
(Name, address, including zip code, and telephone number, including area code,
of agent for service)
----------------
Copies to:
R. Randall Wang, Esq. Jonathan Birenbaum, Esq.
Bryan Cave LLP Paul, Hastings, Janofsky &
211 N. Broadway Walker LLP
St. Louis, MO 63102-2750 1055 Washington Blvd.
(314) 259-2000 Stamford, CT 06901-2217
(203) 961-7400
----------------
Approximate date of commencement of proposed sale to public: From time to
time after the effective date of this Registration Statement.
If the only securities being registered on this form are being offered
pursuant to dividend or interest reinvestment plans, please check the following
box. [_]
If any of the securities being registered on this form are to be offered on
a delayed or continuous basis pursuant to Rule 415 under the Securities Act of
1933, other than securities offered only in connection with dividend or
interest reinvestment plans, please check the following box. [X]
Continued on next page
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If this form is filed to register additional securities for an offering
pursuant to Rule 462(b) under the Securities Act of 1933, please check the
following box and list the Securities Act registration statement number of the
earlier effective registration statement for the same offering. [_]
If this form is a post-effective amendment filed pursuant to Rule 462(c)
under the Securities Act of 1933, check the following box and list the
Securities Act registration statement number of the earlier effective
registration statement for the same offering. [_]
If this form is a post-effective amendment filed pursuant to Rule 462(d)
under the Securities Act of 1933, check the following box and list the
Securities Act registration number of the earlier effective registration
statement for the same offering. [X] No. 333-90443
If delivery of the prospectus is expected to be made pursuant to Rule 434,
check the following box. [X]
Explanatory Note
This Post-Effective Amendment No. 3 to Registration Statement on Form S-3
(No. 333-90443) is filed pursuant to Rule 462(d) solely to add certain
exhibits not previously filed with respect to the Registration Statement and,
accordingly, shall become effective immediately upon filing with the Securities
and Exchange Commission.
<PAGE>
PART II
INFORMATION NOT REQUIRED IN PROSPECTUS
Item 14. Other Expenses of Issuance and Distribution.
The expenses in connection with the issuance and distribution of the
securities being registered, other than underwriting compensation, are:
<TABLE>
<S> <C>
Filing Fee for Registration Statement................................. $139,000
Legal Fees and Expenses............................................... $125,000
Accounting Fees and Expenses.......................................... $ 11,000
Trustee's Fees and Expenses........................................... $ 13,500
Printing and Engraving Fees........................................... $ 15,000
Rating Agency Fees.................................................... $200,000
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Total............................................................... $503,500
========
</TABLE>
All of the above amounts, other than the Commission filing fee, are
estimates only.
Item 15. Indemnification of Directors and Officers.
Under the Company's Restated Articles of Incorporation and Missouri
corporation laws, each of the present and former directors and officers of the
Company may be entitled to indemnification under certain circumstances from
certain liabilities, claims and expenses arising from any threatened, pending
or completed action, suit or proceeding (including any such action, suit or
proceeding arising under the Securities Act of 1933 as amended), to which they
are made a party by reason of the fact that he is or was a director or officer
of the Company.
The Company insures its directors and officers against certain liabilities
and has insurance against certain payments which it may be obliged to make to
such persons under the indemnification provisions of its Restated Articles of
Incorporation.
In the Distribution Agreement, a form which is filed as Exhibit 1.1 hereto,
the Agents will agree to indemnify, under certain conditions, Leggett & Platt,
its directors, certain of its officers and persons who control Leggett & Platt
within the meaning of the Securities Act of 1933, against certain liabilities.
In the Underwriting Agreement, a form which is filed as Exhibit 1.2 hereto,
the Underwriters will agree to indemnify, under certain conditions, Leggett &
Platt, its directors, certain of its officers and persons who control Leggett &
Platt within the meaning of the Securities Act of 1933, against certain
liabilities.
Item 16. Exhibits.
The following Exhibits are filed as part of this Registration Statement:
<TABLE>
<C> <S>
*1.1 Form of Distribution Agreement, dated as of November 24, 1999 between
the Company and Bear, Stearns & Co. Inc., Chase Securities Inc., and
Goldman, Sachs & Co.
**1.2 Form of Underwriting Agreement.
*4.1 Form of Indenture, dated as of November 24, 1999 between the Company
and The Chase Manhattan Bank, as Trustee.
4.2 Form of Debt Security (included in exhibit 4.1).
*4.3 Form of Fixed Rate Note.
*4.4 Form of Floating Rate Note.
**4.5 Form of 7.65% Note due February 15, 2005.
**4.6 Form of Officers' Certificate Pursuant to Section 301 of the Indenture.
*5.1 Opinion of Ernest C. Jett, Vice President, General Counsel and
Secretary of the Company.
*8.1 Opinion of Bryan Cave LLP as to certain tax matters.
**12 Computation of Ratios of Earnings to Fixed Charges.
*23.1 Consent of PriceWaterhouseCoopers LLP.
*23.2 Consent of Ernest C. Jett, Vice President, General Counsel and
Secretary of the Company (included as
part of Exhibit 5).
*24 Power of Attorney (included on signature page).
*25 Form T-1 Statement of Eligibility and Qualification of Trustee under
the Trust Indenture Act of 1939.
</TABLE>
- --------
* Previously filed
** Filed herewith
II-1
<PAGE>
Item 17. Undertakings.
(A) The undersigned Registrant 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 of 1933;
(ii) To reflect in the prospectus any facts or events arising after the
effective date of the 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 the 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 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 and
(iii) To include any material information with respect to the plan of
distribution not previously disclosed in the registration statement
or any material change to such information in the 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
by the Registrant pursuant to section 13 or section 15(d) of the
Securities Exchange Act of 1934 that are incorporated by reference
in the registration statement.
(2) That, for the purpose of determining any liabilities under the
Securities Act of 1933, 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 undersigned Registrant hereby undertakes that, for purposes of
determining any liability under the Securities Act of 1933, each filing of the
Registrant's annual report pursuant to section 13(a) or section 15(d) of the
Securities Exchange Act of 1934 that is incorporated by reference in the
registration statement shall be deemed to be a new registration statement
relating to the securities offered herein, 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 of 1933 may be permitted to directors, officers and controlling persons of
the Registrant pursuant to the foregoing provisions, or otherwise, the
Registrant has been advised that in the opinion of the Securities and Exchange
Commission such indemnification is against public policy as expressed in the
Securities Act of 1933 and is, therefore, unenforceable. In the event that a
claim for indemnification against such liabilities (other than the payment by
the Registrant of expenses incurred or paid by a director, officer or
controlling person of the Registrant 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 Registrant 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 of 1933 and will be governed by the final adjudication of such
issue.
II-2
<PAGE>
(D) The undersigned Registrant hereby undertakes that:
(1) For purposes of determining any liability under the Securities Act
of 1933, the information omitted from the form of prospectus filed
as part of this registration statement in reliance upon Rule 430A
and contained in a form of prospectus filed by the Registrant
pursuant to Rule 424(b)(1) or (4) or 497(h) under the Securities
Act shall be deemed to be part of this Registration statement as of
the time it was declared effective.
(2) For the purpose of determining any liability under the Securities
Act of 1933, each post-effective amendment that contains a form of
prospectus 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.
II-3
<PAGE>
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 on Form S-3 and has duly caused this Post-Effective
Amendment No. 3 to the Registration Statement (No. 333-90443) to be signed on
its behalf by the undersigned, thereunto duly authorized, in the City of
Carthage, State of Missouri, on the 9th day of February, 2000.
LEGGETT & PLATT, INCORPORATED
By: /s/ Ernest C. Jett
----------------------------------
Ernest C. Jett
Vice President
Pursuant to the requirements of the Securities Act of 1933, this
Post-Effective Amendment No. 3 to the Registration Statement has been signed
below by the following persons in the capacities indicated on the 9th day of
February, 2000.
<TABLE>
<CAPTION>
Signature Title
--------- -----
<C> <S>
/s/ Felix E. Wright* Vice Chairman of the Board, Chief Executive
__________________________________ Officer and President, Director (Principal
Felix E. Wright Executive Officer)
/s/ Michael A. Glauber* Senior Vice President, Finance &
__________________________________ Administration (Principal Financial
Michael A. Glauber Officer)
/s/ Allan J. Ross* Vice President--Accounting (Principal
__________________________________ Accounting Officer)
Allan J. Ross
/s/ Harry M. Cornell, Jr.* Chairman of the Board
__________________________________
Harry M. Cornell, Jr.
/s/ Raymond F. Bentele* Director
__________________________________
Raymond F. Bentele
/s/ Robert Ted Enloe, III* Director
__________________________________
Robert Ted Enloe, III
/s/ Richard T. Fisher* Director
__________________________________
Richard T. Fisher
Director
__________________________________
Bob L. Gaddy
/s/ David S. Haffner* Director
__________________________________
David S. Haffner
/s/ Thomas A. Hays* Director
__________________________________
Thomas A. Hays
</TABLE>
II-4
<PAGE>
<TABLE>
<CAPTION>
Signature Title
--------- -----
<S> <C>
Director
- ----------------------------------
Robert A. Jefferies, Jr.
/s/ Alexander M. Levine* Director
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Alexander M. Levine
/s/ Richard L. Pearsall* Director
- ----------------------------------
Richard L. Pearsall
Director
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Duane W. Potter
/s/ Maurice E. Purnell, Jr.* Director
- ----------------------------------
Maurice E. Purnell, Jr.
/s/ Alice L. Walton* Director
- ----------------------------------
Alice L. Walton
</TABLE>
/s/ Ernest C. Jett
*By: -----------------------
Ernest C. Jett
Attorney-in-fact
(Pursuant to Power of
Attorney
Dated November 5, 1999)
II-5
<PAGE>
EXHIBIT 1.2
LEGGETT & PLATT, INCORPORATED
Debt Securities
Underwriting Agreement
----------------------
February 9, 2000
Goldman, Sachs & Co.
Bear, Stearns & Co. Inc.
Chase Securities Inc.
Merrill Lynch, Pierce, Fenner & Smith
Incorporated
A.G. Edwards & Sons, Inc.
Edward D. Jones & Co., L.P.
First Union Securities, Inc.
Raymond James & Associates Inc.
Wachovia Securities, Inc.
c/o Goldman, Sachs & Co.
85 Broad Street,
New York, New York 10004
Ladies and Gentlemen:
Leggett & Platt, Incorporated, a Missouri corporation (the "Company"),
proposes to enter into a Pricing Agreement (each a "Pricing Agreement") in the
form of Annex I hereto, with such additions and deletions as the parties thereto
may determine, and, subject to the terms and conditions stated herein and
therein, to issue and sell to the firms named in Schedule I to the applicable
Pricing Agreement (such firms constituting the "Underwriters" with respect to
such Pricing Agreement and the securities specified therein) certain of its debt
securities (the "Securities") specified in Schedule II to such Pricing Agreement
(with respect to such Pricing Agreement, the "Designated Securities").
The terms and rights of any particular issuance of Designated Securities
shall be as specified in the Pricing Agreement relating thereto and in or
pursuant to the indenture (the "Indenture") identified in such Pricing
Agreement.
1. Particular sales of Designated Securities may be made to the
Underwriters of such Securities, for whom the firms designated as
representatives of the Underwriters of such Securities in the Pricing Agreement
relating thereto will act as representatives (the "Representatives"). The term
"Representatives" also refers to a single firm acting as sole representative of
the Underwriters and to an Underwriter or Underwriters who act without any firm
being designated as its or their representatives. This Underwriting Agreement
shall not be
<PAGE>
construed as an obligation of the Company to sell any of the Securities or as an
obligation of any of the Underwriters to purchase the Securities. The obligation
of the Company to issue and sell any of the Securities and the obligation of any
of the Underwriters to purchase any of the Securities shall be evidenced by the
Pricing Agreement with respect to the Designated Securities specified therein.
Each Pricing Agreement shall specify the aggregate principal amount of such
Designated Securities, the initial public offering price of such Designated
Securities, the purchase price to the Underwriters of such Designated
Securities, the names of the Underwriters of such Designated Securities, the
names of the Representatives of such Underwriters and the principal amount of
such Designated Securities to be purchased by each Underwriter and shall set
forth the date, time and manner of delivery of such Designated Securities and
payment therefor. The Pricing Agreement shall also specify (to the extent not
set forth in the Indenture and the registration statement and prospectus with
respect thereto) the terms of such Designated Securities. A Pricing Agreement
shall be in the form of an executed writing (which may be in counterparts), and
may be evidenced by an exchange of telegraphic communications or any other rapid
transmission device designed to produce a written record of communications
transmitted. The obligations of the Underwriters under this Agreement and each
Pricing Agreement shall be several and not joint.
2. The Company represents and warrants to, and agrees with, each of the
Underwriters that:
(a) (i) A registration statement on Form S-3 (File No. 333-90443) (the
"Initial Registration Statement") in respect of the Securities has been
filed with the Securities and Exchange Commission (the "Commission"); (ii)
the Initial Registration Statement and any post-effective amendment
thereto, each in the form heretofore delivered or to be delivered to the
Representatives and, excluding exhibits to the Initial Registration
Statement, but including all documents incorporated by reference in the
prospectus contained therein, to the Representatives for each of the other
Underwriters, have been declared effective by the Commission in such form;
(iii) other than a registration statement, if any, increasing the size of
the offering (a "Rule 462(b) Registration Statement"), filed pursuant to
Rule 462(b) under the Securities Act of 1933, as amended (the "Act"), which
became effective upon filing, and the Form 8-K filed by the Company on
February 2, 2000, no other document with respect to the Initial
Registration Statement or document incorporated by reference therein has
heretofore been filed or transmitted for filing with the Commission (other
than prospectuses filed pursuant to Rule 424(b) of the rules and
regulations of the Commission under the Act, each in the form heretofore
delivered to the Representatives); and (iv) no stop order suspending the
effectiveness of the Initial Registration Statement, any post-effective
amendment thereto or the Rule 462(b) Registration Statement, if any, has
been issued and no proceeding for that purpose has been initiated or
threatened by the Commission (any preliminary prospectus included in the
Initial Registration Statement or filed with the Commission pursuant to
Rule 424(a) under the Act, is hereinafter called a "Preliminary
Prospectus"); (v) the various parts of the Initial Registration Statement,
any post-effective amendment thereto and the Rule 462(b) Registration
Statement, if any, including all exhibits thereto and the documents
2
<PAGE>
incorporated by reference in the prospectus contained in the Initial
Registration Statement at the time such part of the Initial Registration
Statement became effective but excluding Form T-1 Statement of Eligibility
and Qualification under the Trust Indenture Act of 1939 (the "Form T-1"),
each as amended at the time such part of the Initial Registration Statement
became effective or such part of the Rule 462(b) Registration Statement, if
any, became or hereafter becomes effective, are hereinafter collectively
called the "Registration Statement"; (vi) the prospectus relating to the
Designated Securities, in the form in which it has most recently been
filed, or transmitted for filing, with the Commission on or prior to the
date of this Agreement, being hereinafter called the "Prospectus"; (vii)
any reference herein to any Preliminary Prospectus or the Prospectus shall
be deemed to refer to and include the documents incorporated by reference
therein pursuant to the applicable form under the Act, as of the date of
such Preliminary Prospectus or Prospectus, as the case may be; (viii) any
reference to any amendment or supplement to any Preliminary Prospectus or
the Prospectus shall be deemed to refer to and include any documents filed
after the date of such Preliminary Prospectus or Prospectus, as the case
may be, under the Securities Exchange Act of 1934, as amended (the
"Exchange Act"), and incorporated by reference in such Preliminary
Prospectus or Prospectus, as the case may be; (ix) any reference to any
amendment to the Initial Registration Statement shall be deemed to refer to
and include any annual report of the Company filed pursuant to Sections
13(a) or 15(d) of the Exchange Act after the effective date of the Initial
Registration Statement that is incorporated by reference in the
Registration Statement; and (x) any reference to the Prospectus as amended
or supplemented shall be deemed to refer to the Prospectus as amended or
supplemented in relation to the applicable Designated Securities in the
form in which it is filed with the Commission pursuant to Rule 424(b) under
the Act in accordance with Section 5(a) hereof, including any documents
incorporated by reference therein as of the date of such filing);
(b) The documents incorporated by reference in the Prospectus, when
they became effective or were filed with the Commission, as the case may
be, conformed in all material respects to the requirements of the Act or
the Exchange Act, as applicable, and the rules and regulations of the
Commission thereunder, and none of such documents contained an untrue
statement of a material fact or omitted to state a material fact required
to be stated therein or necessary to make the statements therein not
misleading; and any further documents so filed and incorporated by
reference in the Prospectus or any further amendment or supplement thereto,
when such documents become effective or are filed with the Commission, as
the case may be, will conform in all material respects to the requirements
of the Act or the Exchange Act, as applicable, and the rules and
regulations of the Commission thereunder and will not contain an untrue
statement of a material fact or omit to state a material fact required to
be stated therein or necessary to make the statements therein not
misleading; provided, however, that this representation and warranty shall
not apply to any statements or omissions made in reliance upon and in
conformity with information furnished in writing to the Company by an
Underwriter of
3
<PAGE>
Designated Securities through the Representatives expressly for use in the
Prospectus as amended or supplemented relating to such Securities;
(c) The Registration Statement and the Prospectus conform, and any
further amendments or supplements to the Registration Statement or the
Prospectus will conform, in all material respects to the requirements of
the Act and the Trust Indenture Act of 1939, as amended (the "Trust
Indenture Act") and the rules and regulations of the Commission thereunder
and do not and will not, as of the applicable effective date as to the
Registration Statement and any amendment thereto and as of the applicable
filing date as to the Prospectus and any amendment or supplement thereto,
contain an untrue statement of a material fact or omit to state a material
fact required to be stated therein or necessary to make the statements
therein not misleading; provided, however, that this representation and
warranty shall not apply to any statements or omissions made in reliance
upon and in conformity with information furnished in writing to the Company
by an Underwriter of Designated Securities through the Representatives
expressly for use in the Prospectus as amended or supplemented relating to
such Securities or to that part of the Registration Statement that
constitutes the Form T-1;
(d) The Company has been duly incorporated and is validly existing as a
corporation in good standing under the laws of the State of Missouri; and
has the requisite corporate power and authority to execute and deliver the
Designated Securities and this Agreement, to perform its obligations
hereunder and thereunder, and to own its properties and conduct its
business as described in the Prospectus;
(e) The issuance and sale of the Designated Securities in an aggregate
principal amount which shall not exceed $350,000,000 have been duly
authorized by the Company and, when Designated Securities have been duly
executed by the Company and authenticated and delivered by the Trustee, and
payment therefor has been received by or on behalf of the Company, such
Designated Securities will constitute legal, valid and binding obligations
of the Company, enforceable against the Company in accordance with their
terms, except as such enforcement may be limited by bankruptcy, insolvency,
moratorium, reorganization or other similar laws affecting the enforcement
of creditors' rights generally and by general equitable principles;
(f) This Agreement has been duly authorized, executed and delivered by
the Company and constitutes the legal, valid and binding obligation of the
Company, enforceable against the Company in accordance with its terms,
except as such enforcement may be limited by bankruptcy, insolvency,
moratorium, reorganization or other similar laws affecting the enforcement
of creditors' rights generally and by general equitable principles and
except that no representation or warranty is made with respect to the
enforceability of Section 8 hereof;
(g) The Company and its subsidiaries have not sustained since the date
of the latest audited financial statements included or incorporated by
reference in the Prospectus any loss or interference with its business from
fire, explosion, flood or other calamity, whether or not covered by
insurance, or from any labor dispute or court or governmental
4
<PAGE>
action, order or decree, which is material to the Company and its
subsidiaries taken as a whole, otherwise than as set forth or contemplated
in the Prospectus; and, since the respective dates as of which information
is given in the Registration Statement and the Prospectus, there has not
been any material decrease in the capital stock of the Company or material
increase in consolidated long-term debt (as such terms are defined in
accordance with generally accepted accounting principles) of the Company
and its subsidiaries or any material adverse change, or any development
that the Company believes would be reasonably likely to result in a
material adverse change, in or affecting the general affairs, management,
financial position, stockholders' equity or results of operations of the
Company and its subsidiaries taken as a whole, otherwise than as set forth
or contemplated in the Prospectus;
(h) (i) The issue and sale of the Securities, the compliance by the
Company with all of the provisions of the Securities, the Indenture, this
Agreement and any Pricing Agreement, and the consummation of the
transactions herein and therein contemplated will not (A) result in a
breach or violation of any of the terms or provisions of, or constitute a
default under, any indenture, mortgage, deed of trust, loan agreement or
other agreement or instrument to which the Company is a party or by which
the Company is bound or to which any of the property or assets of the
Company is subject, or (B) result in any violation of (1) the provisions of
the Articles of Incorporation, as amended, or By-laws of the Company or (2)
any statute or any order, rule or regulation of any court or governmental
agency or body having jurisdiction over the Company or any of its
properties; and (ii) no consent, approval, authorization, order,
registration or qualification of or with any court or governmental agency
or body is required on the part of the Company for the issue and sale of
the Securities or the consummation by the Company of the transactions
contemplated by this Agreement, any Pricing Agreement or the Indenture,
except such as have been, or will have been prior to the Time of Delivery,
obtained under the Act and the Trust Indenture Act and such consents,
approvals, authorizations, registrations or qualifications as may be
required under state securities or Blue Sky laws in connection with the
purchase and distribution of the Securities by the Underwriters;
(i) Other than as set forth in the Prospectus, there are no legal or
governmental proceedings pending to which the Company or any of its
subsidiaries is a party or to which any property of the Company or any of
its subsidiaries is subject, which would individually or in the aggregate
reasonably be expected to have a material adverse effect on the current or
future consolidated financial position, stockholders' equity or results of
operations of the Company and its subsidiaries taken as a whole; and, to
the best of the Company's knowledge, no such proceedings are threatened or
contemplated by governmental authorities or threatened by others;
(j) Immediately after any sale of Designated Securities by the Company
hereunder or under any Pricing Agreement, the aggregate amount of
Designated Securities that will have been issued and sold by the Company
hereunder or under any
5
<PAGE>
Pricing Agreement and of any debt securities of the Company (other than
such Designated Securities) that will have been issued and sold pursuant to
the Registration Statement will not exceed the amount of debt securities
registered under the Registration Statement; and
(k) The Company is not an "investment company" or a company
"controlled" by an "investment company" within the meaning of the
Investment Company Act of 1940, as amended (the "Investment Company Act").
3. Upon the execution of the Pricing Agreement applicable to any
Designated Securities and authorization by the Representatives of the release of
such Designated Securities, the several Underwriters propose to offer such
Designated Securities for sale upon the terms and conditions set forth in the
Prospectus as amended or supplemented.
4. Designated Securities to be purchased by each Underwriter pursuant to
the Pricing Agreement relating thereto, in the form specified in such Pricing
Agreement, and in such authorized denominations and registered in such names as
the Representatives may request upon at least forty-eight hours' prior notice to
the Company, shall be delivered by or on behalf of the Company to the
Representatives for the account of such Underwriter, against payment by such
Underwriter or on its behalf of the purchase price therefor by wire transfer of
Federal (same-day) funds to the account specified by the Company to the
Representatives at least forty-eight hours in advance or at such other place and
time and date as the Representatives and the Company may agree upon in writing,
such time and date of purchase and delivery being herein called the "Time of
Delivery" for such Securities.
5. The Company agrees with each of the Underwriters of any Designated
Securities:
(a) (i) To prepare the Prospectus as amended or supplemented in
relation to the applicable Designated Securities in a form approved by the
Representatives and to file such Prospectus pursuant to Rule 424(b) under
the Act not later than the Commission's close of business on the second
business day following the execution and delivery of the Pricing Agreement
relating to the applicable Designated Securities or, if applicable, such
earlier time as may be required by Rule 424(b); (ii) to make no further
amendment or any supplement to the Registration Statement or Prospectus as
amended or supplemented after the date of the Pricing Agreement relating to
such Designated Securities and prior to the Time of Delivery for such
Securities that is disapproved by the Representatives for such Securities
promptly after reasonable notice thereof; (iii) to advise the
Representatives promptly of any such amendment or supplement after such
Time of Delivery and furnish the Representatives with copies thereof; (iv)
to file promptly all reports and any definitive proxy or information
statements required to be filed by the Company with the Commission pursuant
to Section 13(a), 13(c), 14 or 15(d) of the Exchange Act for so long as the
delivery of a prospectus is required in connection with the offering or
sale of the Designated Securities, and during such same period to advise
the Representatives, promptly after the Company receives notice thereof, of
the time when any amendment to the Registration Statement has been filed or
has become effective or any supplement to the Prospectus or any amended
Prospectus has been filed
6
<PAGE>
with the Commission, of the issuance by the Commission of any stop order or
of any order preventing or suspending the use of any prospectus relating to
the Designated Securities, of the suspension of the qualification of the
Designated Securities for offering or sale in any jurisdiction, of the
initiation or threatening of any proceeding for any such purpose, or of any
request by the Commission for the amendment or supplement of the
Registration Statement or Prospectus or for additional information; and (v)
in the event of the issuance of any such stop order or of any such order
preventing or suspending the use of any prospectus relating to the
Designated Securities or suspending any such qualification, to promptly use
its reasonable best efforts to obtain the withdrawal of such order;
(b) Promptly from time to time to take such action as the
Representatives may reasonably request to qualify the Designated Securities
for offering and sale under the securities laws of such jurisdictions in
the United States as the Representatives may request (and in such foreign
jurisdictions as the Company and the Representatives may agree) and to
comply with such laws so as to permit the continuance of sales and dealings
therein in such jurisdictions for as long as may be necessary to complete
the distribution or sale of the Designated Securities, provided, however,
that in connection therewith the Company shall not be required to qualify
as a foreign corporation or as a dealer in securities or to file a general
consent to service of process or subject itself to taxation in any
jurisdiction;
(c) Prior to 10:00 a.m., New York City time, on the New York Business
Day next succeeding the date of this Agreement and from time to time, to
furnish the Underwriters with copies of the Prospectus in New York City as
amended or supplemented in such quantities as the Representatives may
reasonably request, and, if the delivery of a prospectus is required at any
time in connection with the offering or sale of the Designated Securities
and if at such time any event has occurred as a result of which the
Prospectus as then amended or supplemented would include an untrue
statement of a material fact or omit to state any material fact necessary
in order to make the statements therein, in the light of the circumstances
under which they were made when such Prospectus is delivered, not
misleading, or, if for any other reason it is necessary during such same
period to amend or supplement the Prospectus or to file under the Exchange
Act any document incorporated by reference in the Prospectus in order to
comply with the Act, the Exchange Act or the Trust Indenture Act, to notify
the Representatives and upon their request to file such document and to
prepare and furnish without charge to each Underwriter and to any dealer in
securities as many copies as the Representatives may from time to time
reasonably request of an amended Prospectus or a supplement to the
Prospectus which will correct such statement or omission or effect such
compliance;
(d) To make generally available to its security holders as soon as
practicable, but in any event not later than eighteen months after the
effective date of the Registration Statement (as defined in Rule 158(c)
under the Act), an earnings statement of the Company and its subsidiaries
(which need not be audited) complying with Section 11(a)
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<PAGE>
of the Act and the rules and regulations of the Commission thereunder
(including, at the option of the Company, Rule 158);
(e) That, from the date of the Pricing Agreement for such Designated
Securities and continuing to and including the termination of trading
restrictions for such Designated Securities, as notified to the Company by
the Representatives, not to offer, sell, contract to sell or otherwise
dispose of any debt securities of the Company which mature more than one
year after such Time of Delivery and which are substantially similar to
such Designated Securities, without the prior written consent of the
Representatives; provided, that in no event shall borrowings under the
Company's revolving credit agreements and lines of credit or issuances of
commercial paper be deemed to be substantially similar to such Designated
Securities; and
(f) If the Company elects to rely upon Rule 462(b), the Company shall
file a Rule 462(b) Registration Statement with the Commission in compliance
with Rule 462(b) by 10:00 P.M., Washington, D.C. time, on the date of this
Agreement, and the Company shall at the time of filing either pay to the
Commission the filing fee for the Rule 462(b) Registration Statement or
give irrevocable instructions for the payment of such fee pursuant to Rule
111(b) under the Act.
6. The Company covenants and agrees with the several Underwriters that the
Company will pay or cause to be paid the following: (i) the fees, disbursements
and expenses of the Company's counsel and accountants in connection with the
registration of the Designated Securities under the Act and all other expenses
in connection with the preparation, printing and filing of the Registration
Statement, any Preliminary Prospectus and the Prospectus and any amendments and
supplements thereto and the mailing and delivering of copies thereof to the
Underwriters and dealers; (ii) the cost of printing, producing or reproducing
any Agreement among Underwriters, this Agreement, any Pricing Agreement, any
Indenture, any Blue Sky and Legal Investment Memoranda, closing documents
(including any compilations thereof) and any other documents in connection with
the offering, purchase, sale and delivery of the Designated Securities; (iii)
all expenses in connection with the qualification of the Designated Securities
for offering and sale under state securities laws as provided in Section 5(b)
hereof, including the reasonable fees and disbursements of counsel for the
Underwriters in connection with such qualification and in connection with the
Blue Sky and Legal Investment Surveys; (iv) any fees charged by securities
rating services for rating the Designated Securities; (v) any filing fees
incident to, and the reasonable fees and disbursements of counsel for the
Underwriters in connection with, any required review by the National Association
of Securities Dealers, Inc. of the terms of the sale of the Designated
Securities; (vi) the cost of preparing the Designated Securities; (vii) the fees
and expenses of any Trustee and any agent of any Trustee and transfer or paying
agent of the Company and the reasonable fees and disbursements of counsel for
any Trustee or such agent in connection with any Indenture and the Designated
Securities; and (viii) all other costs and expenses incident to the performance
of its obligations hereunder that are not otherwise specifically provided for in
this Section. It is understood, however, that, except as
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provided in this Section, and Sections 8 and 11 hereof, the Underwriters will
pay all of their own costs and expenses, including the fees of their counsel,
transfer taxes on resale of any of the Designated Securities by them, and any
advertising expenses connected with any offers they may make.
7. The obligations of the Underwriters of any Designated Securities under
the Pricing Agreement relating to such Designated Securities shall be subject,
in the discretion of the Representatives, to the condition that all
representations and warranties and other statements of the Company in or
incorporated by reference in the Pricing Agreement relating to such Designated
Securities are, at and as of the Time of Delivery for such Designated
Securities, true and correct, the condition that the Company shall have
performed all of its obligations hereunder theretofore to be performed, and the
following additional conditions:
(a) (i) The Prospectus as amended or supplemented in relation to the
applicable Designated Securities shall have been filed with the Commission
pursuant to Rule 424(b) under the Act within the applicable time period
prescribed for such filing by the rules and regulations under the Act and in
accordance with Section 5(a) hereof; (ii) if the Company has elected to rely
upon Rule 462(b), the Rule 462(b) Registration Statement shall have become
effective by 10:00 P.M., Washington, D.C. time, on the date of this Agreement;
(iii) no stop order suspending the effectiveness of the Registration Statement
or any part thereof shall have been issued and no proceeding for that purpose
shall have been initiated or threatened by the Commission; and (iv) all requests
for additional information on the part of the Commission shall have been
complied with to the Representatives' reasonable satisfaction;
(b) Counsel for the Underwriters shall have furnished to the
Representatives such written opinion or opinions, dated the Time of Delivery for
such Designated Securities as the Representatives may reasonably request
(including the penultimate paragraph of subsection (c) below), and such counsel
shall have received such papers and information as they may reasonably request
to enable them to pass upon such matters;
(c) The Company's General Counsel, or other counsel for the Company
reasonably satisfactory to the Representatives, shall have furnished to the
Representatives their written opinions, dated the Time of Delivery for such
Designated Securities, in form and substance reasonably satisfactory to the
Representatives, to the effect that:
(i) the Company is a corporation validly existing as a corporation
in good standing under the laws of the jurisdiction in which it is
chartered or organized with full corporate power and authority to own
its properties and conduct its business in all material respects as
described in the Prospectus as amended or supplemented;
(ii) each subsidiary constituting 10% or more of the consolidated
total assets of the Company as of such date (each such subsidiary being
hereinafter referred to as a "Significant Subsidiary") is a corporation
validly existing and in good standing under the laws of its
jurisdiction of incorporation; and all of the issued shares of capital
stock of each such subsidiary have been duly and validly authorized and
issued, are fully paid and non-assessable and (except as otherwise
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<PAGE>
set forth in the Prospectus as amended or supplemented) are owned
directly or indirectly by the Company, to such counsel's knowledge free
and clear of all liens, encumbrances, equities or claims (such counsel
being entitled to rely in respect of the opinion in this clause upon
opinions of local counsel and in respect of matters of fact upon
certificates of officers of the Company or its subsidiaries, provided
that such counsel shall state that they believe that you and they are
justified in relying upon such opinions and certificates);
(iii) the Company's authorized equity capitalization is as set
forth in the Prospectus as amended or supplemented; the Designated
Securities conform in all material respects to the description thereof
contained in the Prospectus as amended or supplemented;
(iv) the Indenture has been duly authorized, executed and delivered
by the Company and has been duly qualified under the Trust Indenture
Act and constitutes a valid and binding obligation of the Company,
enforceable against the Company in accordance with its terms, subject
to bankruptcy, insolvency, fraudulent transfer, reorganization,
moratorium and similar laws of general applicability relating to or
affecting creditors' rights and to general equity principles;
(v) the Designated Securities have been duly authorized and
established in conformity with the Indenture, and when executed,
authenticated and issued in accordance with the Indenture and delivered
against payment therefor as contemplated by the Pricing Agreement, such
Designated Securities will constitute legal, valid and binding
obligations of the Company entitled to the benefits of the Indenture,
and enforceable in accordance with their terms, subject to bankruptcy,
insolvency, fraudulent transfer, reorganization, moratorium and similar
laws of general applicability relating to or affecting creditors'
rights and to general equity principles;
(vi) to the best knowledge of such counsel, there is no action, suit
or proceeding pending or overtly threatened before any court or
governmental agency, authority or body or any arbitrator involving the
Company or any of its subsidiaries, of a character required to be
disclosed in the Registration Statement that is not adequately
disclosed in the Prospectus as amended or supplemented, and there is no
franchise, contract or other document of a character required to be
described in the Registration Statement or Prospectus as amended or
supplemented, or to be filed as an exhibit, that is not described or
filed as required; and the statements included or incorporated in the
Prospectus as amended or supplemented describing any legal proceedings
or material contracts or agreements relating to the Company fairly
summarize such matters to the extent required by law;
(vii) such counsel has been advised by the Commission's staff that
the Registration Statement has become effective under the Act; any
required filing of the Prospectus pursuant to Rule 424(b) has been made
in the manner and within the time period required by Rule 424(b); to
the best knowledge of such counsel, no stop
10
<PAGE>
order suspending the effectiveness of the Registration Statement has
been issued, no proceedings for that purpose have been instituted or
threatened, and the Registration Statement and the Prospectus as
amended or supplemented (other than the financial statements, related
financial statement schedules and other financial and statistical
information and written information relating to and furnished by the
Agents contained therein or omitted therefrom, and except for the part
of the Registration Statement that constitutes the Trustee's Form T-1
Statement of Eligibility and Qualification under the Trust Indenture
Act on Form T-1 (the "Form T-1"), as to which such counsel need express
no opinion) comply as to form in all material respects with the
applicable requirements of the Act, the Exchange Act and the Trust
Indenture Act and the respective rules thereunder;
(viii) this Agreement and the Pricing Agreement with respect to the
Designated Securities have been duly authorized, executed and delivered
by the Company;
(ix) no consent, approval, authorization or order of any federal or
Missouri court or governmental agency or body is required to be
obtained by the Company for the issue and sale of the Designated
Securities or the consummation of the transactions contemplated herein
or in the Pricing Agreement, except such as have been obtained under
the Act and the Trust Indenture Act and such as may be required under
the blue sky laws of any jurisdiction in connection with the purchase
and distribution of the Designated Securities by the Underwriters and
such other approvals (specified in such opinion) as have been obtained;
(x) neither the execution and delivery by the Company of the
Indenture, the issue and sale of the Designated Securities, nor the
consummation by the Company of any other of the transactions herein
contemplated nor the fulfillment by the Company of the terms hereof or
of the Pricing Agreement will result in a breach or violation of, or
constitute a default under (A) the articles of incorporation or by-laws
of the Company, (B) the terms of any indenture or other material
agreement or instrument known to such counsel and to which the Company
or any of its Significant Subsidiaries is a party or bound, (C) any
judgment, order or decree known to such counsel to be specifically
applicable to the Company or any of its Significant Subsidiaries of any
federal or Missouri court, regulatory body, administrative agency,
governmental body or arbitrator having jurisdiction over the Company or
any of its Significant Subsidiaries or (D) any provision of federal or
Missouri statute or governmental regulation applicable to the Company;
(xi) no holders of securities of the Company have rights to the
registration of such securities under the Registration Statement; and
(xii) the Company is not an "investment company" or a company
"controlled" by an "investment company" within the meaning of the
Investment Company Act of 1940, as amended;
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<PAGE>
Such opinion shall also state that, although such counsel does not
assume responsibility for the accuracy, completeness or fairness of the
statements contained in the Registration Statement or Prospectus, nothing has
come to such counsel's attention that causes such counsel to believe that, as of
its effective date, the Registration Statement (other than the financial
statements, related financial statement schedules and other financial and
statistical information and written information relating to and furnished by the
Agents contained therein or omitted therefrom, and except for the part of the
Registration Statement that constitutes the Form T-1, as to which such counsel
need express no opinion) contained any untrue statement of a material fact or
omitted to state any material fact required to be stated therein or necessary to
make the statements therein not misleading or that the Prospectus as amended or
supplemented (other than the financial statements, related schedules and other
financial and statistical information and written information furnished by the
Agents contained therein or omitted therefrom as to which such counsel need
express no opinion) includes any untrue statement of a material fact or omits to
state a material fact necessary to make the statements therein, in the light of
the circumstances under which they were made, not misleading.
In rendering such opinion, such counsel may rely (A) as to matters
involving the application of laws of any jurisdiction other than the State of
Missouri or the United States, to the extent deemed proper and specified in such
opinion, upon the opinion of other counsel of good standing believed to be
reliable and who are reasonably satisfactory to counsel for the Representatives
and (B) as to matters of fact, to the extent deemed proper, on certificates of
responsible officers of the Company and public officials. References to the
Prospectus in this paragraph (c) include any supplements thereto at the Closing
Date.
(d) On the date of the Pricing Agreement for such Designated Securities at
a time prior to the execution of the Pricing Agreement with respect to such
Designated Securities and at the Time of Delivery for such Designated
Securities, the independent accountants of the Company who have certified the
financial statements of the Company and its subsidiaries included or
incorporated by reference in the Registration Statement shall have furnished to
the Representatives a letter, dated such date of the Pricing Agreement, and a
letter dated such Time of Delivery, respectively, and with respect to such
letter dated such Time of Delivery, as to such other matters as the
Representatives may reasonably request and in form and substance substantially
satisfactory to the Representatives;
(e) (i) The Company and its subsidiaries shall not have sustained since the
date of the latest audited financial statements included or incorporated by
reference in the Prospectus as amended or supplemented prior to the date of the
Pricing Agreement relating to the Designated Securities any loss or interference
with its business from fire, explosion, flood or other calamity, whether or not
covered by insurance, or from any labor dispute or court or governmental action,
order or decree, which is material to the Company and its subsidiaries taken as
a whole otherwise than as set forth or contemplated in the Prospectus as amended
or supplemented prior to the date of the Pricing Agreement relating to the
Designated Securities, and (ii) since the respective dates as of which
information is given in the Prospectus as amended or supplemented prior to the
date of the Pricing Agreement relating to the Designated Securities there shall
not have been any
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<PAGE>
material decrease in the capital stock of the Company or material increase in
consolidated long-term debt (as such terms are defined in accordance with
generally accepted accounting principles) of the Company and its subsidiaries or
any change, or any development that the Company believes would be reasonably
likely to result in a material adverse change, in or affecting the general
affairs, management, financial position, stockholders' equity or results of
operations of the Company and its subsidiaries taken as a whole, otherwise than
as set forth or contemplated in the Prospectus as amended or supplemented prior
to the date of the Pricing Agreement relating to the Designated Securities, the
effect of which, in any such case described in Clause (i) or (ii), is in the
judgment of the Representatives so material and adverse as to make it
impracticable or inadvisable to proceed with the public offering or the delivery
of the Designated Securities on the terms and in the manner contemplated in the
Prospectus on the date hereof relating to the Designated Securities;
(f) On or after the date of the Pricing Agreement relating to the
Designated Securities (i) no downgrading shall have occurred in the rating
accorded the Company's debt securities by any "nationally recognized statistical
rating organization", as that term is defined by the Commission for purposes of
Rule 436(g)(2) under the Act, and (ii) no such organization shall have publicly
announced that it has under surveillance or review, with possible negative
implications, its rating of any of the Company's debt securities;
(g) On or after the date of the Pricing Agreement relating to the
Designated Securities there shall not have occurred any of the following: (i) a
suspension or material limitation in trading in securities generally on the New
York Stock Exchange; (ii) a suspension or material limitation in trading in the
Company's securities on the New York Stock Exchange; (iii) a general moratorium
on commercial banking activities declared by either Federal or New York State
authorities; or (iv) the outbreak or material escalation of hostilities
involving the United States or the declaration by the United States of a
national emergency or war, if the effect on financial markets of any such event
specified in this Clause (iv) in the judgment of the Representatives makes it
impracticable or inadvisable to proceed with the public offering or the delivery
of the Designated Securities on the terms and in the manner contemplated in the
Prospectus on the date hereof relating to the Designated Securities;
(h) The Company shall have complied with the provisions of Section 5(c)
hereof with respect to the furnishing of prospectuses on the New York Business
Day next succeeding the date of this Agreement; and
(i) The Company shall have furnished or caused to be furnished to the
Representatives at the Time of Delivery for the Designated Securities a
certificate of an officer of the Company in such form and executed by such
officers of the Company as shall be reasonably satisfactory to the
Representatives, as to the accuracy of the representations and warranties of the
Company herein at and as of such Time of Delivery, as to the performance by the
Company of all of its obligations hereunder to be performed at or prior to such
Time of Delivery, as to the following matters and as to such other matters as
the Representatives may reasonably request:
(a) (i) The Prospectus as amended or supplemented in relation to the
applicable Designated Securities has been filed with the Commission
pursuant to Rule 424(b) within
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<PAGE>
the applicable time period prescribed for such filing by the rules and
regulations under the Act and in accordance with Section 5(a) hereof; (ii)
if the Company has elected to rely upon Rule 462(b), the Rule 462(b)
Registration Statement has become effective by 10:00 P.M., Washington, D.C.
time, on the date of this Agreement; (iii) no stop order suspending the
effectiveness of the Registration Statement or any part thereof has been
issued and no proceeding for that purpose has been initiated or threatened
by the Commission; and (iv) all requests for additional information on the
part of the Commission have been complied with;
(b) (i) The Company and its subsidiaries have not sustained since the
date of the latest audited financial statements included or incorporated by
reference in the Prospectus as amended or supplemented prior to the date of
the Pricing Agreement relating to the Designated Securities any loss or
interference with its business from fire, explosion, flood or other
calamity, whether or not covered by insurance, or from any labor dispute or
court or governmental action, order or decree, which is material to the
Company and its subsidiaries taken as a whole otherwise than as set forth
or contemplated in the Prospectus as amended or supplemented prior to the
date of the Pricing Agreement relating to the Designated Securities, and
(ii) since the respective dates as of which information is given in the
Prospectus as amended or supplemented prior to the date of the Pricing
Agreement relating to the Designated Securities there has not been any
material decrease in the capital stock of the Company or material increase
in consolidated long-term debt (as such terms are defined in accordance
with generally accepted accounting principles) of the Company and its
subsidiaries or any material adverse change, or any development that the
Company believes would be reasonably likely to result in a material adverse
change, in or affecting the general affairs, management, financial
position, stockholders' equity or results of operations of the Company and
its subsidiaries taken as a whole, otherwise than as set forth or
contemplated in the Prospectus as amended or supplemented prior to the date
of the Pricing Agreement relating to the Designated Securities.
8. (a) The Company will indemnify and hold harmless each Underwriter
against any losses, claims, damages or liabilities, joint or several, to which
such Underwriter may become subject, under the Act or otherwise, insofar as such
losses, claims, damages or liabilities (or actions in respect thereof) arise out
of or are based upon an untrue statement or alleged untrue statement of a
material fact contained in any Preliminary Prospectus, the Registration
Statement, the Prospectus, the Prospectus as amended or supplemented or any
other prospectus relating to the Securities, or any amendment or supplement
thereto, or arise out of or are based upon the omission or alleged omission to
state therein a material fact required to be stated therein or necessary to make
the statements therein not misleading, and will reimburse each Underwriter for
any legal or other expenses reasonably incurred by such Underwriter in
connection with investigating or defending any such action or claim as such
expenses are incurred; provided, however, that the Company shall not be liable
in any such case to the extent that any such loss, claim, damage or liability
arises out of or is based upon an untrue statement or alleged untrue statement
or omission or alleged omission made in any Preliminary Prospectus, the
Registration
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Statement, the Prospectus, the Prospectus as amended or supplemented or any
other prospectus relating to the Securities, or any amendment or supplement
thereto, (i) in reliance upon and in conformity with written information
furnished to the Company by such Underwriter of Designated Securities through
the Representatives expressly for use therein or (ii) that is corrected in any
amendment or supplement to the Registration Statement or the Prospectus,
provided that the Company has performed each of its obligations pursuant to
Section 5 hereof in respect of such amendment or supplement and, to the extent
that a prospectus relating to the Securities was required to be delivered by
such Underwriter under the Securities Act of 1933, if such Underwriter, having
been furnished by or on behalf of the Company with copies of the Prospectus as
so amended or supplemented, thereafter fails to deliver such amended or
supplemented Prospectus prior to or concurrently with the delivery of
confirmation of the sale of the Securities to the person asserting such loss,
claim, damage or liability.
(b) Each Underwriter will indemnify and hold harmless the Company against
any losses, claims, damages or liabilities to which the Company may become
subject, under the Act or otherwise, insofar as such losses, claims, damages or
liabilities (or actions in respect thereof) arise out of or are based upon an
untrue statement or alleged untrue statement of a material fact contained in any
Preliminary Prospectus, the Registration Statement, the Prospectus, the
Prospectus as amended or supplemented or any other prospectus relating to the
Securities, or any amendment or supplement thereto, or arise out of or are based
upon the omission or alleged omission to state therein a material fact required
to be stated therein or necessary to make the statements therein not misleading,
in each case to the extent, but only to the extent, that such untrue statement
or alleged untrue statement or omission or alleged omission was made in any
Preliminary Prospectus, the Registration Statement, the Prospectus, the
Prospectus as amended or supplemented or any other prospectus relating to the
Securities, or any amendment or supplement thereto, in reliance upon and in
conformity with written information furnished to the Company by such Underwriter
through the Representatives expressly for use therein; and will reimburse the
Company for any legal or other expenses reasonably incurred by the Company in
connection with investigating or defending any such action or claim as such
expenses are incurred.
(c) Promptly after receipt by an indemnified party under subsection (a) or
(b) above of notice of the commencement of any action, such indemnified party
shall, if a claim in respect thereof is to be made against the indemnifying
party under such subsection, notify the indemnifying party in writing of the
commencement thereof; but the omission so to notify the indemnifying party (i)
shall not relieve the indemnifying party from liability under subsection (a) or
(b) above unless and to the extent it did not otherwise learn of such action and
such failure results in the forfeiture by the indemnifying party of substantial
rights and defenses and (ii) shall not relieve it from any liability that it may
have to any indemnified party otherwise than under such subsection. In case any
such action is brought against any indemnified party and it notifies the
indemnifying party of the commencement thereof, the indemnifying party shall be
entitled to participate therein and, to the extent that it wishes, jointly with
any other indemnifying party similarly notified, to assume the defense thereof,
with counsel reasonably satisfactory to such indemnified party (who shall not,
except with the consent of the indemnified party, be counsel to the indemnifying
party), and, after notice from the indemnifying party to such indemnified party
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of its election so to assume the defense thereof, the indemnifying party shall
not be liable to such indemnified party under such subsection for any legal
expenses of other counsel or any other expenses, in each case subsequently
incurred by such indemnified party, in connection with the defense thereof other
than reasonable costs of investigation. No indemnifying party shall, without
the written consent of the indemnified party, effect the settlement or
compromise of, or consent to the entry of any judgment with respect to, any
pending or threatened action or claim in respect of which indemnification or
contribution may be sought hereunder (whether or not the indemnified party is an
actual or potential party to such action or claim) unless such settlement,
compromise or judgment (i) includes an unconditional release of the indemnified
party from all liability arising out of such action or claim and (ii) does not
include a statement as to or an admission of fault, culpability or a failure to
act, by or on behalf of any indemnified party.
(d) If the indemnification provided for in this Section 8 is unavailable to
or insufficient to hold harmless an indemnified party under subsection (a) or
(b) above in respect of any losses, claims, damages or liabilities (or actions
in respect thereof) referred to therein, then each indemnifying party shall
contribute to the amount paid or payable by such indemnified party as a result
of such losses, claims, damages or liabilities (or actions in respect thereof)
in such proportion as is appropriate to reflect the relative benefits received
by the Company on the one hand and the Underwriters of the Designated Securities
on the other from the offering of the Designated Securities to which such loss,
claim, damage or liability (or action in respect thereof) relates. If, however,
the allocation provided by the immediately preceding sentence is not permitted
by applicable law, then each indemnifying party shall contribute to such amount
paid or payable by such indemnified party in such proportion as is appropriate
to reflect not only such relative benefits but also the relative fault of the
Company on the one hand and the Underwriters of the Designated Securities on the
other in connection with the statements or omissions that resulted in such
losses, claims, damages or liabilities (or actions in respect thereof), as well
as any other relevant equitable considerations. The relative benefits received
by the Company on the one hand and such Underwriters on the other shall be
deemed to be in the same proportion as the total net proceeds from such offering
(before deducting expenses) received by the Company bear to the total
underwriting discounts and commissions received by such Underwriters (before
deducting expenses). The relative fault shall be determined by reference to,
among other things, whether the untrue or alleged untrue statement of a material
fact or the omission or alleged omission to state a material fact required to be
stated therein or necessary in order to make the statements therein not
misleading relates to information supplied by the Company on the one hand or
such Underwriters on the other and the parties' relative intent, knowledge,
access to information and opportunity to correct or prevent such statement or
omission. The Company and the Underwriters agree that it would not be just and
equitable if contribution pursuant to this subsection (d) were determined by pro
rata allocation (even if the Underwriters were treated as one entity for such
purpose) or by any other method of allocation that does not take account of the
equitable considerations referred to above in this subsection (d). The amount
paid or payable by an indemnified party as a result of the losses, claims,
damages or liabilities (or actions in respect thereof) referred to above in this
subsection (d) shall be deemed to include any legal or other expenses reasonably
incurred by such indemnified party in connection with investigating or
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<PAGE>
defending any such action or claim. Notwithstanding the provisions of this
subsection (d), no Underwriter shall be required to contribute any amount in
excess of the amount by which the total public offering price at which the
applicable Designated Securities underwritten by it and distributed to the
public were offered to the public exceeds the amount of any damages that such
Underwriter has otherwise been required to pay by reason of such untrue or
alleged untrue statement or omission or alleged omission. No person guilty of
fraudulent misrepresentation (within the meaning of Section 11(f) of the Act)
shall be entitled to contribution from any person who was not guilty of such
fraudulent misrepresentation. The obligations of the Underwriters of Designated
Securities in this subsection (d) to contribute are several in proportion to
their respective underwriting obligations with respect to such Securities and
not joint.
(e) The obligations of the Company under this Section 8 shall be in
addition to any liability which the Company may otherwise have and shall extend,
upon the same terms and conditions, to each person, if any, who controls any
Underwriter within the meaning of the Act; and the obligations of the
Underwriters under this Section 8 shall be in addition to any liability which
the respective Underwriters may otherwise have and shall extend, upon the same
terms and conditions, to each officer and director of the Company and to each
person, if any, who controls the Company within the meaning of the Act.
9. (a) If any Underwriter shall default in its obligation to purchase the
Designated Securities which it has agreed to purchase under the Pricing
Agreement relating to such Designated Securities, the Representatives may in
their discretion arrange for themselves or another party or other parties to
purchase such Designated Securities of such defaulting Underwriter or
Underwriters on the terms contained herein. If within thirty-six hours after
such default by any Underwriter the Representatives do not arrange for the
purchase of such Designated Securities of such defaulting Underwriter or
Underwriters, then the Company shall be entitled to a further period of thirty-
six hours within which to procure another party or other parties satisfactory to
the Representatives to purchase such Designated Securities on such terms. In
the event that, within the respective prescribed period, the Representatives
notify the Company that they have so arranged for the purchase of such
Designated Securities, or the Company notifies the Representatives that it has
so arranged for the purchase of such Designated Securities, the Representatives
or the Company shall have the right to postpone the Time of Delivery for such
Designated Securities for a period of not more than seven days, in order to
effect whatever changes may thereby be made necessary in the Registration
Statement or the Prospectus as amended or supplemented, or in any other
documents or arrangements, and the Company agrees to file promptly any
amendments or supplements to the Registration Statement or the Prospectus which
in the opinion of the Representatives may thereby be made necessary. The term
"Underwriter" as used in this Agreement shall include any person substituted
under this Section with like effect as if such person had originally been a
party to the Pricing Agreement with respect to such Designated Securities.
(b) If, after giving effect to any arrangements for the purchase of the
Designated Securities of a defaulting Underwriter or Underwriters by the
Representatives and the Company as provided in subsection (a) above, the
aggregate principal amount of such Designated Securities which remains
unpurchased does not exceed one-eleventh of the aggregate principal amount of
the Designated
17
<PAGE>
Securities which remains unpurchased does not exceed one-eleventh of the
aggregate principal amount of the Designated Securities, then the Company shall
have the right to require each non-defaulting Underwriter to purchase the
principal amount of Designated Securities which such Underwriter agreed to
purchase under the Pricing Agreement relating to such Designated Securities and,
in addition, to require each non-defaulting Underwriter to purchase its pro rata
share (based on the principal amount of Designated Securities which such
Underwriter agreed to purchase under such Pricing Agreement) of the Designated
Securities of such defaulting Underwriter or Underwriters for which such
arrangements have not been made; but nothing herein shall relieve a defaulting
Underwriter from liability for its default.
(c) If, after giving effect to any arrangements for the purchase of the
Designated Securities of a defaulting Underwriter or Underwriters by the
Representatives and the Company as provided in subsection (a) above, the
aggregate principal amount of Designated Securities which remains unpurchased
exceeds one-eleventh of the aggregate principal amount of the Designated
Securities, as referred to in subsection (b) above, or if the Company shall not
exercise the right described in subsection (b) above to require non-defaulting
Underwriters to purchase Designated Securities of a defaulting Underwriter or
Underwriters, then the Pricing Agreement relating to all Designated Securities
shall thereupon terminate, without liability on the part of any non-defaulting
Underwriter or the Company, except for the expenses to be borne by the Company
and the Underwriters as provided in Section 6 hereof and the indemnity and
contribution agreements in Section 8 hereof; but nothing herein shall relieve a
defaulting Underwriter from liability for its default.
10. The respective indemnities, agreements, representations, warranties and
other statements of the Company and the several Underwriters, as set forth in
this Agreement or made by or on behalf of them, respectively, pursuant to this
Agreement, shall remain in full force and effect, regardless of any
investigation (or any statement as to the results thereof) made by or on behalf
of any Underwriter or any controlling person of any Underwriter, or the Company,
or any officer or director or any controlling person of the Company, and shall
survive delivery of and payment for the Securities.
11. If any Pricing Agreement shall be terminated pursuant to Sections 7(f),
7(g) or 9 hereof, the Company shall not then be under any liability to any
Underwriter with respect to the Designated Securities covered by such Pricing
Agreement except as provided in Sections 6 and 8 hereof; but, if for any other
reason Designated Securities are not delivered by or on behalf of the Company as
provided herein, the Company will reimburse the Underwriters through the
Representatives for all out-of-pocket expenses approved in writing by the
Representatives, including fees and disbursements of counsel, reasonably
incurred by the Underwriters in making preparations for the purchase, sale and
delivery of such Designated Securities, but the Company shall then be under no
further liability to any Underwriter with respect to such Designated Securities
except as provided in Sections 6 and 8 hereof.
12. In all dealings hereunder, the Representatives of the Underwriters of
Designated Securities shall act on behalf of each of such Underwriters, and the
parties hereto shall be entitled to act and rely upon any statement, request,
notice or agreement on behalf of any Underwriter
18
<PAGE>
made or given by such Representatives jointly or by such of the Representatives,
if any, as may be designated for such purpose in the Pricing Agreement.
All statements, requests, notices and agreements hereunder shall be in
writing, and if to the Underwriters shall be delivered or sent by mail, telex or
facsimile transmission to you as the representatives in care of Goldman, Sachs &
Co., 32 Old Slip, 21st Floor, New York, New York 10005, Attention: Registration
Department; and if to the Company shall be delivered or sent by mail to No. 1
Leggett Road, Carthage, Missouri 64836, Facsimile Transmission No. (417) 358-
8027, Attention: Treasurer (with copies to the Company's General Counsel,
Facsimile Transmission No. (417) 358-8449; provided, however, that any notice to
an Underwriter pursuant to Section 8(c) hereof shall be delivered or sent by
mail, telex or facsimile transmission to such Underwriter at its address set
forth in its Underwriters' Questionnaire, or telex constituting such
Questionnaire, which address will be supplied to the Company by you upon
request. Any such statements, requests, notices or agreements shall take effect
upon receipt thereof.
13. This Agreement and each Pricing Agreement shall be binding upon, and
inure solely to the benefit of, the Underwriters, the Company and, to the extent
provided in Sections 8 and 10 hereof, the officers and directors of the Company
and each person who controls the Company or any Underwriter, and their
respective heirs, executors, administrators, successors and assigns, and no
other person shall acquire or have any right under or by virtue of this
Agreement or any such Pricing Agreement. No purchaser of any of the Securities
from any Underwriter shall be deemed a successor or assign by reason merely of
such purchase.
14. Time shall be of the essence of each Pricing Agreement. As used herein,
"business day" shall mean any day when the Commission's office in Washington,
D.C. is open for business. "New York Business Day" shall mean any day other than
a Saturday or Sunday, or any other day on which banks in The City of New York,
are generally required or authorized by law or executive order to close.
15. This Agreement and each Pricing Agreement shall be governed by and
construed in accordance with the laws of the State of New York without regard to
principles of conflicts of laws.
16. This Agreement and each Pricing Agreement may be executed by any one or
more of the parties hereto and thereto in any number of counterparts, each of
which shall be deemed to be an original, but all such respective counterparts
shall together constitute one and the same instrument.
19
<PAGE>
If the foregoing is in accordance with your understanding, please sign and
return to us counterparts hereof.
Very truly yours,
Leggett & Platt, Incorporated
By:_____________________________
Name: Michael A. Glauber
Title: Senior Vice President
Accepted as of the date hereof:
Goldman, Sachs & Co.
By:_________________________________________
(Goldman, Sachs & Co.)
On behalf of each of the Underwriters
20
<PAGE>
ANNEX I
Pricing Agreement
-----------------
Goldman, Sachs & Co.,
As Representatives of the several
Underwriters named in Schedule I hereto,
85 Broad Street,
New York, New York 10004
_________, 20__
Ladies and Gentlemen:
Leggett & Platt, Incorporated, a Missouri corporation (the "Company"),
proposes, subject to the terms and conditions stated herein and in the
Underwriting Agreement, dated February , 2000 (the "Underwriting Agreement"),
between the Company on the one hand and Goldman, Sachs & Co., on the other hand,
to issue and sell to the Underwriters named in Schedule I hereto (the
"Underwriters") the Securities specified in Schedule II hereto (the "Designated
Securities"). Each of the provisions of the Underwriting Agreement is
incorporated herein by reference in its entirety, and shall be deemed to be a
part of this Agreement to the same extent as if such provisions had been set
forth in full herein; and each of the representations and warranties set forth
therein shall be deemed to have been made at and as of the date of this Pricing
Agreement, except that each representation and warranty which refers to the
Prospectus in Section 2 of the Underwriting Agreement shall be deemed to be a
representation or warranty as of the date of the Underwriting Agreement in
relation to the Prospectus (as therein defined), and also a representation and
warranty as of the date of this Pricing Agreement in relation to the Prospectus
as amended or supplemented relating to the Designated Securities which are the
subject of this Pricing Agreement. Each reference to the Representatives herein
and in the provisions of the Underwriting Agreement so incorporated by reference
shall be deemed to refer to you. Unless otherwise defined herein, terms defined
in the Underwriting Agreement are used herein as therein defined. The
Representatives designated to act on behalf of the Representatives and on behalf
of each of the Underwriters of the Designated Securities pursuant to Section 12
of the Underwriting Agreement and the address of the Representatives referred to
in such Section 12 are set forth at the end of Schedule II hereto.
An amendment to the Registration Statement, or a supplement to the
Prospectus, as the case may be, relating to the Designated Securities, in the
form heretofore delivered to you is now proposed to be filed with the
Commission.
Subject to the terms and conditions set forth herein and in the
Underwriting Agreement incorporated herein by reference, the Company agrees to
issue and sell to each of the Underwriters, and each of the Underwriters agrees,
severally and not jointly, to purchase from the Company, at the time and place
and at the purchase price to the Underwriters set forth in
<PAGE>
Schedule II hereto, the principal amount of Designated Securities set forth
opposite the name of such Underwriter in Schedule I hereto.
If the foregoing is in accordance with your understanding, please sign and
return to us counterparts hereof, and upon acceptance hereof by you, on behalf
of each of the Underwriters, this letter and such acceptance hereof, including
the provisions of the Underwriting Agreement incorporated herein by reference,
shall constitute a binding agreement between each of the Underwriters and the
Company. It is understood that your acceptance of this letter on behalf of each
of the Underwriters is or will be pursuant to the authority set forth in a form
of Agreement among Underwriters, the form of which shall be submitted to the
Company for examination upon request, but without warranty on the part of the
Representatives as to the authority of the signers thereof.
Very truly yours,
Leggett & Platt, Incorporated
By:__________________________________
Name:
Title:
Accepted as of the date hereof:
Goldman, Sachs & Co.
By:__________________________________
(Goldman, Sachs & Co.)
On behalf of each of the Underwriters
2
<PAGE>
SCHEDULE I
Principal
Amount of
Designated
Securities
to be
Underwriter Purchased
- ----------- ---------
Goldman, Sachs & Co............................................. $
----------
Total................................................. $
==========
<PAGE>
SCHEDULE II
Title of Designated Securities:
Aggregate principal amount:
Price to Public:
[_]% of the principal amount of the Designated Securities, plus accrued
interest, if any, from to
Purchase Price by Underwriters:
[_]% of the principal amount of the Designated Securities, plus accrued
interest from to
Form of Designated Securities:
[Definitive form to be made available for checking and packaging at least
twenty-four hours prior to the Time of Delivery at the office of [The
Depository Trust Company or its designated custodian] [the
Representatives]]
[Book-entry only form represented by one or more global securities
deposited with The Depository Trust Company ("DTC") or its designated
custodian, to be made available for checking by the Representatives at
least twenty-four hours prior to the Time of Delivery at the office of
DTC.]
Specified funds for payment of purchase price:
Time of Delivery:
Indenture:
Maturity:
Interest Rate:
Interest Payment Dates:
Redemption Provisions:
<PAGE>
Sinking Fund Provisions:
Defeasance provisions:
Closing location for delivery of Designated Securities:
Additional Closing Conditions:
Names and addresses of Representatives:
Designated Representatives:
Address for Notices, etc.:
Other Terms:
2
<PAGE>
EXHIBIT 4.5
[FORM OF NOTE]
Unless this certificate is presented by an authorized representative of The
Depository Trust Company (55 Water Street, New York, New York) (the
"Depositary") to the Company or its agent for registration of transfer, exchange
or payment, and any certificate issued is registered in the name of Cede & Co.
or such other name as requested by an authorized representative of the
Depositary and any payment is made payable to Cede & Co., ANY TRANSFER, PLEDGE
OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL since
the registered owner hereof, Cede & Co., has an interest herein.
Unless and until this Security is exchanged in whole or in part for
certificated Securities registered in the names of the various beneficial
holders hereof as then certified by the Depositary or a successor depositary,
this Security may not be transferred except as a whole by the Depositary to a
nominee of the Depositary or by a nominee of the Depositary to another nominee
of the Depositary or to the Depositary or by the Depositary or any such nominee
to a successor Depositary or a nominee of such successor depositary.
<PAGE>
LEGGETT & PLATT, INCORPORATED
__% Note due February 15, 2005
_________________________________________________
CUSIP No. 524660 AQ 0
No. R- $ _______________
LEGGETT & PLATT, INCORPORATED, a corporation duly organized and existing
under the laws of Missouri (herein called the "Company", which term includes any
successor Person under the Indenture hereinafter referred to), for value
received, hereby promises to pay to _______________, or registered assigns, the
principal sum of_____________________ Dollars on February 15, 2005, and to pay
interest thereon from February __, 2000 or from the most recent Interest Payment
Date to which interest has been paid or duly provided for, semiannually in
arrears on February 15 and August 15 in each year, commencing August 15, 2000 at
the rate of __% per annum until the principal hereof is paid or made available
for payment. Interest so payable shall be computed on the basis of a 360-day
year consisting of twelve 30-day months. The interest so payable, and paid or
duly provided for, on any Interest Payment Date will, as provided in such
Indenture, be paid to the Person in whose name this Security (or one or more
Predecessor Securities) is registered at the close of business on the Regular
Record Date for such interest, which shall be the February 1 or August 1
(whether or not a Business Day), as the case may be, next preceding such
Interest Payment Date. Notwithstanding the foregoing, interest payable at
Maturity shall be paid to the Person to whom principal shall be paid. Any such
interest not so paid or duly provided for will forthwith cease to be payable to
the Holder on such Regular Record Date and may either be paid to the Person in
whose name this Security (or one or more Predecessor Securities) is registered
at the close of business on a Special Record Date for the payment of such
Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to
Holders of Securities of this series not less than 10 days prior to such Special
Record Date, or be paid at any time in any other lawful manner not inconsistent
with the requirements of any securities exchange on which the Securities of this
series may be listed, and upon such notice as may be required by such exchange,
all as more fully provided in said Indenture.
Payment of the principal of and interest on this Security will be made at
the offices of The Chase Manhattan Bank in New York, New York or at such other
office or agency as may be designated for such purpose by the Company from time
to time and will be made in such coin or currency of the United States of
America as at the time of payment is legal tender for the payment of public and
private debts; provided, however, that at the option of the Company payment of
interest may be made by check mailed to the address of the Person entitled
thereto as such address shall appear in the Security Register, provided,
further, that Holders of $1,000,000 or more in aggregate principal amount of the
Securities of this series shall be entitled to receive payment of interest by
wire transfer to an account of the Person entitled thereto located in the United
States, provided, that such Person shall have given to the Paying Agent
satisfactory wire transfer instructions by the Regular Record Date preceding the
applicable interest payment date, with reference to the identifying information
concerning such Holder to be found in the Security Register.
Reference is hereby made to the further provisions of this Security set
forth on the reverse hereof, which further provisions shall for all purposes
have the same effect as if set forth at this place.
Unless the certificate of authentication hereon has been executed by or on
behalf of the Trustee referred to on the reverse hereof by manual signature,
this Security shall not be entitled to any benefit under the Indenture or be
valid or obligatory for any purpose.
2
<PAGE>
IN WITNESS WHEREOF, the Company has caused this instrument to be duly
executed.
Dated:______________________________
LEGGETT & PLATT, INCORPORATED
By: ________________________________
This is one of the Securities of the series designated therein referred to
in the within-mentioned Indenture.
THE CHASE MANHATTAN BANK, as Trustee
By: ________________________________
Authorized Officer
3
<PAGE>
[REVERSE SIDE OF NOTE]
This Security is one of a duly authorized issue of securities of the
Company (herein called the "Securities"), issued and to be issued in one or more
series under an Indenture, dated as of November 24, 1999 (herein called the
"Indenture"), between the Company and The Chase Manhattan Bank, as Trustee
(herein called the "Trustee," which term includes any successor trustee under
the Indenture), to which Indenture and all indentures supplemental thereto
reference is hereby made for a statement of the respective rights, limitations
of rights, duties and immunities thereunder of the Company, the Trustee and the
Holders of the Securities and of the terms upon which the Securities are, and
are to be authenticated and delivered. The acceptance of this Security shall be
deemed to constitute the consent and agreement by the Holders hereof to all of
the terms and provisions of the Indenture. This Security is one of the series
designated on the face hereof, limited in aggregate principal amount to
$350,000,000. By the terms of the Indenture, additional Securities of other
separate series, which may vary as to date, amount, Stated Maturity, interest
rate or method of calculating the interest rate and in other respects as therein
provided, may be issued in an unlimited principal amount.
If any Interest Payment Date or the Stated Maturity of this Security shall
not be a Business Day at any Place of Payment, then (notwithstanding any other
provision of the Indenture or this Security), payment of interest or principal
due on this Security need not be made at such Place of Payment on such date, but
may be made on the next succeeding Business Day at the Place of Payment, with
the same force and effect as if made on the Interest Payment Date or at Stated
Maturity, provided that no interest shall accrue on such unpaid interest or
principal for the period from and after such Interest Payment Date or Stated
Maturity, as the case may be.
The Securities of this series are not redeemable prior to Stated Maturity.
If an Event of Default with respect to the Securities of this series shall
occur and be continuing, the principal of the Securities of this series may
(subject to the conditions set forth in the Indenture) be declared due and
payable in the manner and with the effect provided in the Indenture.
The Indenture contains provisions for defeasance at any time of the
Company's obligations in respect of (i) the entire indebtedness of this Security
or (ii) certain restrictive covenants with respect to this Security, in each
case upon compliance with certain conditions set forth therein.
The Indenture permits, with certain exceptions as therein provided, the
amendment thereof and the modification of the rights and obligations of the
Company and the rights of the Holders of the Securities of each series to be
affected under the Indenture at any time by the Company and the Trustee with the
consent of the Holders of not less than a majority in aggregate principal amount
of the Securities at the time Outstanding of each series to be affected and, for
certain purposes, without the consent of the Holders of any Securities at the
time Outstanding. The Indenture also contains provisions permitting the Holders
of specified percentages in aggregate principal amount of the Securities of each
series at the time Outstanding, on behalf of
4
<PAGE>
the Holders of all Securities of such series, to waive compliance by the Company
with certain provisions of the Indenture and certain past defaults under the
Indenture and their consequences. Any such consent or waiver by the Holder of
this Security shall be conclusive and binding upon such Holder and upon all
future Holders of this Security and of any Security issued upon the registration
of transfer hereof or in exchange hereof or in lieu hereof, whether or not
notation of such consent or waiver is made upon this Security.
No reference herein to the Indenture and no provision of this Security or
of the Indenture shall alter or impair the obligation of the Company, which is
absolute and unconditional, to pay the principal of and interest on this
Security at the times, place and rate, and in the coin or currency, herein
prescribed.
As provided in the Indenture and subject to certain limitations therein set
forth, the transfer of this Security is registrable in the Security Register,
upon surrender of this Security for registration of transfer at the office or
agency of the Company in any place where the principal of and interest on this
Security are payable, duly endorsed by, or accompanied by a written instrument
of transfer in form satisfactory to the Company and the Security Registrar duly
executed by, the Holder hereof or such Holder's attorney duly authorized in
writing, and thereupon one or more new Securities of this series, of like tenor
and of authorized denominations and for the same aggregate principal amount,
will be issued to the designated transferee or transferees.
The Securities of this series are issuable only in registered form without
coupons in denominations of $1,000 and any amount in excess thereof which is an
integral multiple of $1,000. As provided in the Indenture and subject to certain
limitations therein set forth, Securities of this series are exchangeable for a
like aggregate principal amount of Securities of this series and of like tenor
of a different authorized denomination, as requested by the Holder surrendering
the same.
No service charge shall be made for any such registration of transfer or
exchange, but the Company may require payment of a sum sufficient to cover any
tax or other governmental charge payable in connection therewith.
Prior to due presentment of this Security for registration of transfer, the
Company, the Trustee and any agent of the Company or the Trustee may treat the
Person in whose name this Security is registered in the Security Register as the
owner hereof for all purposes, whether or not this Security be overdue, and
neither the Company, the Trustee nor any such agent shall be affected by notice
to the contrary.
This Security shall be governed by and construed in accordance with the
laws of the State of New York, without regard for principles of conflicts of
law.
All terms used in this Security which are defined in the Indenture shall
have the meanings assigned to them in the Indenture.
5
<PAGE>
As provided in the Indenture, no recourse shall be had for the payment of
the principal of or premium, if any, or interest on any Securities, or any part
thereof, or for any claim based thereon or otherwise in respect thereof, or of
the indebtedness represented thereby, or upon any obligation, covenant or
agreement under the Securities or the Indenture, against, and no personal
liability whatsoever shall attach to, or be incurred by, any incorporator,
stockholder, officer or director, as such, past, present or future of the
Company or of any predecessor or successor corporation (either directly or
through the Company or a predecessor or successor corporation), whether by
virtue of any constitutional provision, statute or rule of law, or by the
enforcement of any assessment or penalty or otherwise; it being expressly agreed
and understood that the Indenture and all the Securities are solely corporate
obligations and that any such personal liability is hereby expressly waived and
released as a condition of, and as a part of the consideration for, the
execution of the Indenture and the issuance of the Securities.
6
<PAGE>
FOR VALUE RECEIVED the undersigned hereby sells, assigns and transfer unto
________________________________________________________________________________
[Please insert social security or other identifying number of assignee]
________________________________________________________________________________
[Please print or typewrite name and address of assignee]
________________________________________________________________________________
the within Security of LEGGETT & PLATT, INCORPORATED and does hereby irrevocably
constitute and appoint _________________________, Attorney, to transfer said
Security on the books of the within-mentioned Company, with full power of
substitution in the premises.
Dated: ______________________________
____________________________________
Notice: The signature to this assignment
must correspond with the name as written
upon the face of the Security in every
particular without alteration or
enlargement or any change whatsoever.
7
<PAGE>
EXHIBIT 4.6
OFFICERS' CERTIFICATE
PURSUANT TO SECTION 301 OF THE INDENTURE
We, the undersigned Michael A. Glauber and Sheri L. Bradshaw, Senior Vice
President - Finance and Administration and Treasurer, respectively, of Leggett &
Platt, Incorporated (the "Company"), in accordance with Section 301 of the
Indenture, dated as of November 24, 1999 (the "Indenture"), of the Company to
The Chase Manhattan Bank, as trustee (the "Trustee"), and pursuant to the
Resolution adopted by the Executive Committee of the Company's Board of
Directors (capitalized terms used herein and not defined herein have the meaning
specified in the Indenture) as of November 3, 1999, do hereby establish a series
of debt securities with the following terms and characteristics (the numbered
clauses set forth below corresponding to the numbered subsections of Section 301
of the Indenture):
(1) the title of the Securities of the series shall be 7.65% Notes
due February 15, 2005 (the "Notes");
(2) the Notes may be issued in an aggregate principal amount not
exceeding $350,000,000, except as provided in Section 301(2) of
the Indenture;
(3) the Person to whom any interest on the Notes shall be payable
shall be the Person in whose name that Note is registered at the
close of business on the Regular Record Date for such interest,
provided, however, interest payable at Maturity shall be paid to
the Person to whom principal shall be paid;
(4) the date on which the principal on the Notes is payable shall be
February 15, 2005;
(5) the rate at which the Notes shall bear interest shall be 7.650%
per annum, the date from which such interest shall accrue shall
be February 14, 2000, and the basis on which interest shall be
calculated shall be that of a 360-day year of twelve 30-day
months; the Interest Payment Dates on which such interest shall
be payable shall be every February 15 and August 15, beginning on
August 15, 2000 and ending on February 15, 2005, and the Regular
Record Date for the interest payable on any Interest Payment Date
(other than at Maturity) shall be February 1 for a February 15
Interest Payment Date and August 1 for an August 15 Interest
Payment Date;
(6) the corporate trust office of The Chase Manhattan Bank in New
York, New York shall be the place where the principal of and
interest on the Notes shall be payable, the Notes may be
surrendered for registration of transfer or exchange and notices
and demands to or upon the Company with respect to the Notes and
this Indenture may be served;
(7) Section 301(7) of the Indenture is inapplicable to the Notes and
reference thereto is intentionally omitted;
<PAGE>
EXHIBIT 4.6
(8) Section 301(8) of the Indenture is inapplicable to the Notes and
reference thereto is intentionally omitted;
(9) the Notes shall be issued in denominations of $1,000 and integral
multiples of $1,000;
(10) the Notes will be denominated in, and payments of principal and
interest in respect thereof, will be made in U.S. dollars;
(11) Section 301(11) of the Indenture is inapplicable to the Notes and
reference thereto is intentionally omitted;
(12) Section 301(12) of the Indenture is inapplicable to the Notes and
reference thereto is intentionally omitted;
(13) Sections 403 and 1005 of the Indenture shall be applicable to the
Notes;
(14) Section 301(14) of the Indenture is inapplicable to the Notes and
reference thereto is intentionally omitted;
(15) Section 301(15) of the Indenture is inapplicable to the Notes and
reference thereto is intentionally omitted;
(16) the Notes shall be issued in the form of one or more Global
Securities, and the Depositary with respect to such Global
Security or Securities shall be The Depository Trust Company and
the circumstances under which any such Global Security may be
exchanged for Notes registered in the name of, and any transfer
of such Global Security may be registered to, a Person other than
such Depositary or its nominee, shall be as set forth in Section
305 of the Indenture;
(17) Section 301(17) of the Indenture is inapplicable to the Notes and
reference thereto is intentionally omitted;
(18) Section 301(18) of the Indenture is inapplicable to the Notes and
reference thereto is intentionally omitted;
(19) Section 301(19) of the Indenture is inapplicable to the Notes and
reference thereto is intentionally omitted; and
(20) the Notes shall be substantially in the form of Note attached
hereto, and which form is hereby authorized and approved and
shall have such further terms as set forth in such form.
<PAGE>
EXHIBIT 4.6
IN WITNESS WHEREOF, we have hereunto signed our names this ____ day of
February, 2000.
___________________________________
Michael A. Glauber
Senior Vice President - Finance and
Administration
___________________________________
Sheri L. Bradshaw
Treasurer
<PAGE>
EXHIBIT 12
LEGGETT & PLATT, INCORPORATED AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Amounts in million of dollars)
<TABLE>
<CAPTION>
Pro Forma
Nine months Pro Forma Nine months
ended Year ended ended Year ended
September 30, December 31, September 30, December 31,
1999 1998 1999 1998 1997 1996 1995 1994
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Earnings
Income from continuing operations
before income taxes $ 344.2 $ 395.6 $344.2 $ 395.6 $ 333.3 $ 249.7 $ 220.6 $ 196.3
Interest expense (excluding
amount capitalized) 56.6 62.5 30.5 38.5 31.8 30.0 30.4 26.0
Portion of rental expense under
operating leases representative
of an interest factor 5.0 6.7 5.0 6.7 6.1 5.5 5.1 4.7
------- ------- ------ ------- ------- ------- ------- -------
Total earnings $ 405.8 $ 464.8 $379.7 $ 440.8 $ 371.2 $ 285.2 $ 256.1 $ 227.0
------- ------- ------ ------- ------- ------- ------- -------
Fixed charges
Interest expense
(including amount capitalized) $ 57.3 $ 63.2 $ 31.2 $ 39.2 $ 32.7 $ 31.0 $ 31.4 $ 26.6
Portion of rental expense under
operating leases representative
of an interest factor 5.0 6.7 5.0 6.7 6.1 5.5 5.1 4.7
------- ------- ------ ------- ------- ------- ------- -------
Total fixed charges $ 62.3 $ 69.9 $ 36.2 $ 45.9 $ 38.8 $ 36.5 $ 36.5 $ 31.3
------- ------- ------ ------- ------- ------- ------- -------
Ratio of earnings to fixed charges 6.5 6.6 10.5 9.6 9.6 7.8 7.0 7.3
------- ------- ------ ------- ------- ------- ------- -------
</TABLE>
Earnings consist principally of income from continuing operations before
income taxes, plus fixed charges. Fixed charges consist principally of
interest costs. The unaudited pro forma ratio of earnings to fixed charges
gives effect to the increased interest expense from the issuance of the notes
based on an actual interest rate of 7.65% per annum, and the reduction of
interest expense resulting from any outstanding commercial paper during the
pro forma period noted above. For the year ended December 31, 1998, the pro
forma computation reflects the repayment of a daily weighted average of $50.9
million of commercial paper, and for the nine months ended September 30, 1999,
the pro forma computation reflects the repayment of a daily weighted average
of $16.9 million of commercial paper. These amounts may not be indicative of
actual commercial paper outstanding when repaid with the proceeds of this
financing.
