<PAGE> 1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 5)
RIDDELL SPORTS INC.
(Name of Issuer)
COMMON STOCK, $.01 PAR VALUE
(Title of Class of Securities)
765670-10-4
(CUSIP Number)
Lisa Marroni, Esq.
RIDDELL SPORTS INC.
900 THIRD AVE - FLOOR 27
NEW YORK, NEW YORK 10022
(212) 826-4300
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
April 8, 1998
(Date of Event which Requires
Filing of this Statement)
IF THE FILING PERSON HAS PREVIOUSLY FILED A STATEMENT ON SCHEDULE
13G TO REPORT THE ACQUISITION WHICH IS THE SUBJECT OF THIS SCHEDULE
13D, AND IS FILING THIS SCHEDULE BECAUSE OF RULE 13D-1(B)(3) OR
(4), CHECK THE FOLLOWING BOX: [ ]
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13D
CUSIP NO. 765670-10-4
- ----------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS M.L.C. PARTNERS LIMITED PARTNERSHIP
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS 13-3507237
- ----------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) (X)
(b) ( )
- ----------------------------------------------------------------------------
3 SEC USE ONLY
- ----------------------------------------------------------------------------
4 SOURCE OF FUNDS OO
- ----------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) ( )
- ----------------------------------------------------------------------------
6 CITIZEN OR PLACE OF ORGANIZATION DELAWARE
- ----------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER NONE
SHARES ---------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER NONE
OWNED BY ---------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER NONE
REPORTING ---------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER NONE
- ----------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
NONE
- ----------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES ( )
- ----------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) NONE
- ----------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON PN
- ----------------------------------------------------------------------------
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13D
CUSIP NO. 765670-10-4
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1 NAME OF REPORTING PERSONS ROBERT HOLDINGS, INC.
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS 38-2991917
- ----------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) (X)
(b) ( )
- ----------------------------------------------------------------------------
3 SEC USE ONLY
- ----------------------------------------------------------------------------
4 SOURCE OF FUNDS WC
- ----------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) ( )
- ----------------------------------------------------------------------------
6 CITIZEN OR PLACE OF ORGANIZATION MICHIGAN
- ----------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER NONE
SHARES ---------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER NONE
OWNED BY ---------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER 474,445
REPORTING ---------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER NONE
- ----------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
474,445
- ----------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES ( )
- ----------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.2%
- ----------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON CO
- ----------------------------------------------------------------------------
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13D
CUSIP NO. 765670-10-4
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1 NAME OF REPORTING PERSONS QEN, INC.
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS 38-2826611
- ----------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) (X)
(b) ( )
- ----------------------------------------------------------------------------
3 SEC USE ONLY
- ----------------------------------------------------------------------------
4 SOURCE OF FUNDS WC
- ----------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) ( )
- ----------------------------------------------------------------------------
6 CITIZEN OR PLACE OF ORGANIZATION MICHIGAN
- ----------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER 50,000
SHARES ---------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER NONE
OWNED BY ---------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER 50,000
REPORTING ---------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER NONE
- ----------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
50,000
- ----------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES ( )
- ----------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
LESS THAN 1%
- ----------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON CO
- ----------------------------------------------------------------------------
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13D
CUSIP NO. 765670-10-4
- ----------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS ROBERT NEDERLANDER
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS ###-##-####
- ----------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) (X)
(b) ( )
- ----------------------------------------------------------------------------
3 SEC USE ONLY
- ----------------------------------------------------------------------------
4 SOURCE OF FUNDS OO
- ----------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) ( )
- ----------------------------------------------------------------------------
6 CITIZEN OR PLACE OF ORGANIZATION UNITED STATES
- ----------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER 5,348,687
SHARES ---------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER NONE
OWNED BY ---------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER 1,287,901
REPORTING ---------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER NONE
- ----------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,348,687
- ----------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES ( )
- ----------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 52.6%
- ----------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON IN
- ----------------------------------------------------------------------------
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13D
CUSIP NO. 765670-10-4
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1 NAME OF REPORTING PERSONS R.E.R. CORP.
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS 38-276-7825
- ----------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) (X)
(b) ( )
- ----------------------------------------------------------------------------
3 SEC USE ONLY
- ----------------------------------------------------------------------------
4 SOURCE OF FUNDS WC
- ----------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) ( )
- ----------------------------------------------------------------------------
6 CITIZEN OR PLACE OF ORGANIZATION MICHIGAN
- ----------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER NONE
SHARES ---------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER NONE
OWNED BY ---------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER 529,364
REPORTING ---------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER NONE
- ----------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
529,364
- ----------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES ( )
- ----------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.8%
- ----------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON CO
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13D
CUSIP NO. 765670-10-4
- ----------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS JOHN MCCONNAUGHY, JR.
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS ###-##-####
- ----------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) (X)
(b) ( )
- ----------------------------------------------------------------------------
3 SEC USE ONLY
- ----------------------------------------------------------------------------
4 SOURCE OF FUNDS OO
- ----------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) ( )
- ----------------------------------------------------------------------------
6 CITIZEN OR PLACE OF ORGANIZATION UNITED STATES
- ----------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER NONE
SHARES ---------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER NONE
OWNED BY ---------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER 1,070,144
REPORTING ---------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER NONE
- ----------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,070,144
- ----------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES ( )
- ----------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 11.6%
- ----------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON IN
- ----------------------------------------------------------------------------
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13D
CUSIP NO. 765670-10-4
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1 NAME OF REPORTING PERSONS JEMC CORP.
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS ###-##-####
- ----------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) (X)
(b) ( )
- ----------------------------------------------------------------------------
3 SEC USE ONLY
- ----------------------------------------------------------------------------
4 SOURCE OF FUNDS WC
- ----------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) ( )
- ----------------------------------------------------------------------------
6 CITIZEN OR PLACE OF ORGANIZATION DELAWARE
- ----------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER NONE
SHARES ---------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER NONE
OWNED BY ---------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER 885,200
REPORTING ---------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER NONE
- ----------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
885,200
- ----------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES ( )
- ----------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 9.7%
- ----------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON CO
- ----------------------------------------------------------------------------
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13D
CUSIP NO. 765670-10-4
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1 NAME OF REPORTING PERSONS DAVID MAUER
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS ###-##-####
- ----------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) (X)
(b) ( )
- ----------------------------------------------------------------------------
3 SEC USE ONLY
- ----------------------------------------------------------------------------
4 SOURCE OF FUNDS PF
- ----------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) ( )
- ----------------------------------------------------------------------------
6 CITIZEN OR PLACE OF ORGANIZATION UNITED STATES
- ----------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER NONE
SHARES ---------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER NONE
OWNED BY ---------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER 421,525
REPORTING ---------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER NONE
- ----------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
421,525
- ----------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES ( )
- ----------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 4.4%
- ----------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON IN
- ----------------------------------------------------------------------------
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<PAGE> 10
13D
CUSIP NO. 765670-10-4
- ----------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS DAN COUGILL
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS ###-##-####
- ----------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) (X)
(b) ( )
- ----------------------------------------------------------------------------
3 SEC USE ONLY
- ----------------------------------------------------------------------------
4 SOURCE OF FUNDS PF
- ----------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) ( )
- ----------------------------------------------------------------------------
6 CITIZEN OR PLACE OF ORGANIZATION UNITED STATES
- ----------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER NONE
SHARES ---------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER NONE
OWNED BY ---------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER 96,427
REPORTING ---------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER NONE
- ----------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
96,427
- ----------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES ( )
- ----------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 1.0%
- ----------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON IN
- ----------------------------------------------------------------------------
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<PAGE> 11
13D
CUSIP NO. 765670-10-4
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1 NAME OF REPORTING PERSONS LENNY CORP.
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS 13-3970019
- ----------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) (X)
(b) ( )
- ----------------------------------------------------------------------------
3 SEC USE ONLY
- ----------------------------------------------------------------------------
4 SOURCE OF FUNDS WC, OO
- ----------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) ( )
- ----------------------------------------------------------------------------
6 CITIZEN OR PLACE OF ORGANIZATION DELAWARE
- ----------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER NONE
SHARES ---------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER NONE
OWNED BY ---------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER 966,443
REPORTING ---------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER NONE
- ----------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
966,443
- ----------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES ( )
- ----------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 10.5%
- ----------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON CO
- ----------------------------------------------------------------------------
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13D
CUSIP NO. 765670-10-4
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1 NAME OF REPORTING PERSONS LEONARD TOBOROFF, P.C. DEFINED
BENEFIT PLAN
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS ###-##-####
- ----------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) (X)
(b) ( )
- ----------------------------------------------------------------------------
3 SEC USE ONLY
- ----------------------------------------------------------------------------
4 SOURCE OF FUNDS OO
- ----------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) ( )
- ----------------------------------------------------------------------------
6 CITIZEN OR PLACE OF ORGANIZATION DELAWARE
- ----------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER NONE
SHARES ---------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER NONE
OWNED BY ---------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER 118,611
REPORTING ---------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER NONE
- ----------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
118,611
- ----------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES ( )
- ----------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 1.3%
- ----------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON OO
- ----------------------------------------------------------------------------
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<PAGE> 13
13D
CUSIP NO. 765670-10-4
- ----------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS LEONARD TOBOROFF
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS ###-##-####
- ----------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) (X)
(b) ( )
- ----------------------------------------------------------------------------
3 SEC USE ONLY
- ----------------------------------------------------------------------------
4 SOURCE OF FUNDS OO
- ----------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) ( )
- ----------------------------------------------------------------------------
6 CITIZEN OR PLACE OF ORGANIZATION UNITED STATES
- ----------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER NONE
SHARES ---------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER NONE
OWNED BY ---------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER 1,342,003
REPORTING ---------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER NONE
- ----------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,342,003
- ----------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES ( )
- ----------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 14.6%
- ----------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON IN
- ----------------------------------------------------------------------------
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<PAGE> 14
13D
CUSIP NO. 765670-10-4
- ----------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS JEFFREY G. WEBB
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS ###-##-####
- ----------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) (X)
(b) ( )
- ----------------------------------------------------------------------------
3 SEC USE ONLY
- ----------------------------------------------------------------------------
4 SOURCE OF FUNDS PF
- ----------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) ( )
- ----------------------------------------------------------------------------
6 CITIZEN OR PLACE OF ORGANIZATION UNITED STATES
- ----------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER NONE
SHARES ---------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER NONE
OWNED BY ---------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER 1,130,687
REPORTING ---------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER NONE
- ----------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,130,687
- ----------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES ( )
- ----------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 11.9%
- ----------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON IN
- ----------------------------------------------------------------------------
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<PAGE> 15
This Amendment No. 5 amends the Schedule 13D filed on February 15, 1994
and amended on August 9, 1995, May 10, 1996, June 26, 1997 and August 22,
1997(the "Schedule 13D") by M.L.C. Partners Limited Partnership, a Delaware
limited partnership ("MLC") and its three general partners, Robert Holdings,
Inc., a Michigan corporation ("Robert Holdings"), Lenny Corp., a Delaware
corporation ("Lenny Corp.") and Financial Trustees, Inc., a Florida corporation
("FTI"), and also, QEN, Inc., a Michigan corporation ("QEN"), Robert E.
Nederlander ("Nederlander") and John McConnaughy, Jr. ("McConnaughy"), relating
to the common stock (the "Common Stock"), par value $.01 per share (the
"Shares"), of Riddell Sports Inc. (the "Company").
Item 2. Identity and Background.
Item 2 is hereby amended and supplemented as follows:
This Statement is being filed by MLC, its general partner, Robert
Holdings, and also Lenny Corp, Leonard Toboroff, P.C., Defined Benefit Plan, a
pension plan intended to be qualified pursuant to Section 401(a) of the
Internal Revenue Code of 1986, as amended ("Benefit Plan"), JEMC Corp., a
Delaware corporation ("JEMC"), QEN, R.E.R. Corp., a Michigan corporation
("RER"), Nederlander, McConnaughy, Leonard Toboroff ("Toboroff"), David Mauer
("Mauer"), Dan Cougill ("Cougill") and Jeffrey Webb ("Webb"). MLC, Robert
Holdings, RER, Lenny Corp., Benefit Plan, JEMC, QEN, Nederlander, McConnaughy,
Toboroff, Mauer and Cougill are hereinafter sometimes collectively referred to
as the "Original Reporting Persons" and collectively with Webb, the "Reporting
Persons."
The names, business address, present principal occupation or employment
and address of any corporation or organization in which such employment is
conducted, of the executive officers and directors and controlling stockholders
of Robert Holdings, Lenny Corp., Benefit Plan, RER, JEMC and QEN are set forth
on Schedule A, B, C, D, E and F, attached hereto, respectively.
None of the Reporting Persons, and to the knowledge of the Reporting
Persons, the persons set forth on Schedules A through F, attached hereto, has,
during the last five years, (i) been convicted in a criminal proceeding
(excluding traffic violations or similar misdemeanors) or (ii) been a party to
a civil proceeding of a judicial or administrative body of competent
jurisdiction and as a result of such proceeding was or is subject to a
judgment, decree or final order enjoining future violations of, or prohibiting
or mandating activities subject to, Federal or State securities laws or finding
any violation with respect to such laws.
Item 3. Source and Amount of Funds or Other
Consideration.
Item 3 is hereby amended as follows:
This report reflects the grant to Mr. Webb under the Company's 1997 Stock
Option Plan more fully described in Item 4, of 20,800 shares of Company Common
Stock reflecting a bonus for his services as Chief Executive Officer and
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<PAGE> 16
President of Varsity Spirit Corporation, a subsidiary of the Company. No funds
were required in exchange for such grant.
The report also reflects that certain options to acquire shares of the
Company's Common Stock previously granted to Mr. Mauer and Mr. Cougill under
the Company's 1991 Stock Option Plan as incentives for their services which are
exercisable currently and have not previously been reported on Schedule 13D,
and therefore are deemed beneficially owned by such persons in accordance with
Rule 13d-3(d) of the Securities Exchange Act of 1934, as amended. The options
were granted as incentives for the continued services of such persons as
officers of the Company and no funds were required in exchange for the grant of
such options.
As described more fully below, this report also relates to the
distribution by MLC of its entire interest in shares of Company Common Stock by
means of(i)the distribution by MLC of its interest in a Voting Trust
Certificate representing 786,531 shares of Company Common Stock to Robert
Holdings and JEMC and (ii) the dissolution of MLC and the distribution in
dissolution of MLC's interest in a warrant to acquire 43,750 shares of Company
Common Stock to Robert Holdings and JEMC. No funds were required in exchange
for the distribution of the equity interest.
This report also reflects an increase in Nederlander's beneficial
ownership by the number of shares of stock granted to Mr. Webb (20,800)and the
aggregate of 63,750 shares underlying the options granted to Messrs. Mauer and
Cougill that recently vested. Mr. Nederlander obtained beneficial ownership of
such shares because the terms of a Stockholders Agreement, dated as of August
14, 1995, by and among Robert Nederlander, as voting trustee (the "Voting
Trustee") under the Voting Trust Agreement dated as of May 29, 1991, by and
among the Company and all of the stockholders of the Company listed on Schedule
A thereto (the "Voting Trust Agreement"), Lenny Corp., a Delaware corporation,
Leonard Toboroff, P.C. Defined Benefit Plan ("Benefit Plan"), Toboroff, Mauer,
Cougill, RER and JEMC, pursuant to an amendment, dated June 26, 1997 (the
"Amendment"), by and among the Reporting Persons. convey voting control to
Nederlander over Shares owned by Cougill, Mauer, McConnaughy, Toboroff, JEMC,
Lenny Corp. Benefit Plan and Webb.
Item 4
Item 4 is hereby amended to provide as follows:
This amendment to Schedule 13D is filed for the following reasons:
In February 1998 the general partner of MLC determined to distribute
certain assets of MLC to its partners, and in this connection Robert Holdings
received a distribution of voting trust certificates reflecting 449,445 shares
of Company Common Stock and JEMC received a distribution of voting trust
certificates reflecting 337,086 shares of Company Common Stock. Robert
Holdings and JEMC have agreed to hold these interests subject to the terms of
the Voting Trust Agreement thereby conveying voting control over the shares
underlying these certificates to Mr. Nederlander, subject to certain
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<PAGE> 17
exceptions described below in the event Mr. McConnaughy defaults under the
loan. Accordingly, Mr. Nederlander is deemed to beneficially own these shares
underlying the voting trust certificates which were transferred by MLC to Mr.
McConnaughy so long as they are subject to the Voting Trust.
Also in April 1998, the partners of MLC agreed to liquidate MLC. In
connection with such liquidation, MLC made a distribution to the partners in
accordance with their capital contributions of its net assets, including a
warrant to acquire 44,750 shares of Company Common Stock. As a result, Robert
Holdings received a warrant to acquire 25,000 shares of Company Common Stock
and JEMC received a warrant to acquire 18,750 shares of Company Common Stock.
The warrants contain the same terms and conditions as the warrant owned by MLC,
and are currently exercisable. The shares of stock underlying the warrants
granted to Robert Holdings and JEMC are subject to the terms of the
Stockholders' Agreement and may be deemed to be beneficially owned by Mr.
Nederlander. In connection with the transactions described above, the
Stockholders' Agreement was amended to add Robert Holdings Inc. as a party
bound by its terms. As a result of the above, MLC no longer owns any
securities of the Company and is no longer a member of the Group filing this
Schedule 13D.
In April, 1998, in connection with a loan that did not involve the
Company, JEMC granted a lender a lien on the 337,086 shares of Company stock
underlying such voting trust certificates. Additionally, McConnaughy granted
such lender a lien in a voting trust certificate representing 147,444 shares of
Company Common Stock and certain shares of Company Common Stock subject to the
Stockholders' Agreements. Pursuant to an agreement with the other parties to
the Voting Trust Agreement, in the event that JEMC or McConnaughy defaults
under any of its obligations under such loan, the lender may foreclose upon the
shares of stock pledged as collateral to secure the loan, and the Voting
Trustee shall release such shares from the Voting Trust Agreement and cause the
Company to issue the shares underlying such voting trust certificates to the
lender free of any contractual restrictions of the Voting Trust Agreement.
Webb is a director and officer of the Company who has received a grant of
20,800 share of Company Common Stock under the Company's 1997 Stock Option Plan
as a bonus for his services in 1997.
Mauer and Cougill are directors and/or officers of the Company who have
received grants of stock options under the Company's 1991 Stock Option Plan.
As listed below, some of these options have recently vested in accordance with
their terms, and such persons are deemed to beneficially own the shares of
Common Stock underlying such options. The options owned by Cougill were granted
December 17, 1996 and became exercisable December 17, 1997. The options owned
by Mauer were granted March 23, 1993 and became exercisable March 23, 1998.
Accordingly, this Amendment No. 5 amends the Schedule 13D to include the
beneficial ownership by certain of the Reporting Persons of the following
number of shares of Common Stock underlying options previously reported on this
Schedule 13D and currently exercisable:
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<PAGE> 18
Name Number of Shares Exercise price per Share
- ---- ---------------- ------------------------
Dan Cougill 3,750 $4.31
David Mauer 17,600 3.625
40,000 4.000
2,400 3.25
In addition, pursuant to the voting agreement contained in the
Stockholder's Agreement, Nederlander is deemed to beneficially own the 3,750
shares beneficially owned by Mr. Cougill the 60,000 shares beneficially owned
by Mr. Mauer and the 20,800 shares owned by Mr. Webb and reported herein, and
Messrs. Cougill and Webb no longer have sole voting power with respect to those
shares.
As a result of the stock grants and option vesting described above, the
Reporting Persons beneficially own an aggregate of 5,348,687 Shares,
representing 52.6% of the Common Stock, adjusted to include options and
warrants exercisable by the Reporting Person within 60 days of April 15, 1998.
By virtue of the foregoing, the Reporting Persons may be deemed to exercise
control over the management and affairs of the Company.
The Reporting Persons intend to review their investment in the Company on
a continuing basis and reserve the right to acquire additional shares of Common
Stock in the open market or in privately negotiated transactions or otherwise,
to maintain their holdings at current levels or to sell all or a portion of
their holdings in the open market or in privately negotiated transactions or
otherwise, subject, in Webb's case, to applicable federal securities law
limitations on sales of restricted securities. Any such actions will depend
upon, among others, the availability of shares of Common Stock for purchase at
satisfactory price levels; the continuing evaluation of the Company's business,
financial condition, operations and prospects; general market, economic and
other conditions; the relative attractiveness of alternative business and
investment opportunities; the availability of financing; the actions of the
management and other future developments.
Except as otherwise set forth above in this Item 4, the Reporting Persons
have no present plans or prospects which relate to or would result in any of
the actions described in parts (a) through (j) of Items 4 of Schedule 13D.
Item 5. Interest in Securities of the Issuer.
Item 5 is hereby amended as follows:
(a) Based on the most recent publicly available filing with the
Securities and Exchange Commission there are 9,117,154 Shares of Common Stock
issued and outstanding.
Nederlander beneficially owns (i) individually and as controlling
stockholder of Robert Holdings, RER and QEN, 1,287,901 Shares (of which
-18-
<PAGE> 19
646,037 are subject to the Voting Trust) and (ii) an additional 4,060,786
Shares, as voting trustee under the Voting Trust and pursuant to the
Stockholders' Agreement, (5,348,687 Shares in the aggregate), representing
52.6% of the currently issued and outstanding Shares of Common Stock, adjusted
to include options and warrants exercisable by the Reporting Persons within 60
days of April 15, 1998.
Cougill beneficially owns 96,427 Shares, representing 1% of the currently
issued and outstanding Shares of Common Stock (adjusted to include options and
warrants exercisable by the Reporting Person within 60 days of April 15, 1998),
all of which are subject to the Stockholders' Agreement; Cougill has sole
dispositive power with respect to such shares.
Webb beneficially owns 1,130,687 Shares of Common Stock, representing
11.9% of the currently issued and outstanding shares of Common Stock (adjusted
to include options and warrants exercisable by the Reporting Person within 60
days of April 15, 1998), all of which are subject to the Stockholders'
Agreement; Webb has sole dispositive power with respect to such Shares.
Mauer beneficially owns 421,525 Shares, representing 4.4% of the
currently outstanding issued and outstanding Shares (adjusted to include
options and warrants exercisable by the Reporting Person within 60 days of
April 15, 1998), all of which are subject to the Stockholders' Agreement; Mauer
has sole dispositive power with respect to such Shares.
(b) Nederlander, pursuant to the Voting Trust, has the sole power to
vote all of the Shares subject to the Voting Trust owned by Nederlander, JEMC,
Robert Holdings and McConnaughy, subject to the conditions set forth above
relating to a default by McConnaughy under a loan.
Pursuant to the Stockholders' Agreement the Reporting Persons have agreed
to vote those Shares beneficially owned by them, and not subject to the Voting
Trust, as Nederlander, as the voting trustee under the Voting Trust, votes the
Shares held pursuant to the Voting Trust and (i) in favor of Webb and a
designee of Webb as directors of the Company and (ii) in favor of the Riddell
Sports Inc. 1997 Stock Option Plan (heretofore approved). As a result thereof,
Nederlander has sole voting power of all of the Shares of Common Stock
currently held by the Reporting Persons pursuant to the Stockholders' Agreement
(5,348,687 Shares in the aggregate).
(c) None.
(d) None.
(e) MLC ceased to own securities of the Company
on April 8, 1998.
Item 6. Contracts, Arrangements, Understandings or
Relationships with Respect to Securities of the
Issuer.
No Change.
-19-
<PAGE> 20
Item 7. Material to be Filed as Exhibits.
23 Amendment No. 2 to Stockholders' Agreement dated
August 14, 1995 dated as of March 2, 1998.
SIGNATURE
After reasonable inquiry and to the best of
its knowledge and belief, the undersigned certifies that
the information set forth in this Statement is true,
complete and correct.
Dated: April 16, 1998 M.L.C. PARTNERS LIMITED
PARTNERSHIP
By: Robert Holdings, Inc.
its General Partner
by: /s/ ROBERT E. NEDERLANDER
Robert E. Nederlander
President
SIGNATURE
After reasonable inquiry and to the best of
its knowledge and belief, the undersigned certifies that
the information set forth in this Statement is true,
complete and correct.
Dated: April 16, 1998 ROBERT HOLDINGS, INC.
By: /s/ ROBERT E. NEDERLANDER
Robert E. Nederlander
President
SIGNATURE
AFTER REASONABLE INQUIRY AND TO THE BEST OF
ITS KNOWLEDGE AND BELIEF, THE UNDERSIGNED CERTIFIES THAT
THE INFORMATION SET FORTH IN THIS STATEMENT IS TRUE,
COMPLETE AND CORRECT.
DATED: April 16, 1998 R.E.R. CORP.
BY: /S/ ROBERT E. NEDERLANDER
ROBERT E. NEDERLANDER
PRESIDENT
-20-
<PAGE> 21
SIGNATURE
After reasonable inquiry and to the best of
its knowledge and belief, the undersigned certifies that
the information set forth in this Statement is true,
complete and correct.
Dated: April 16, 1998 QEN, INC.
By: /s/ ROBERT E. NEDERLANDER
Robert E. Nederlander
President
SIGNATURE
After reasonable inquiry and to the best of
my knowledge and belief, I certify that the information
set forth in this Statement is true, complete and
correct.
Dated: April 16, 1998 /s/ ROBERT E. NEDERLANDER
Robert E. Nederlander
SIGNATURE
After reasonable inquiry and to the best of
its knowledge and belief, the undersigned certifies that
the information set forth in this Statement is true,
complete and correct.
Dated: April 16, 1998 JEMC CORP.
By: /s/ JOHN MCCONNAUGHY, JR.
John McConnaughy, Jr.
President
-21-
<PAGE> 22
SIGNATURE
After reasonable inquiry and to the best of
my knowledge and belief, I certify that the information
set forth in this Statement is true, complete and
correct.
Dated: April 16, 1998 /s/ JOHN MCCONNAUGHY, JR.
John McConnaughy, Jr.
SIGNATURE
After reasonable inquiry and to the best of
its knowledge and belief, the undersigned certifies that
the information set forth in this Statement is true,
complete and correct.
Dated: April 16, 1998 LENNY CORP.
By: /s/ LEONARD TOBOROFF
Leonard Toboroff
President
SIGNATURE
After reasonable inquiry and to the best of
its knowledge and belief, the undersigned certifies that
the information set forth in this Statement is true,
complete and correct.
Dated: April 16, 1998 LEONARD TOBOROFF, P.C.
DEFINED BENEFIT PLAN
By: /s/ LEONARD TOBOROFF
Leonard Toboroff
Trustee
-22-
<PAGE> 23
SIGNATURE
After reasonable inquiry and to the best of
my knowledge and belief, I certify that the information
set forth in this Statement is true, complete and
correct.
Dated: April 16, 1998 /s/ LEONARD TOBOROFF
Leonard Toboroff
SIGNATURE
After reasonable inquiry and to the best of
my knowledge and belief, I certify that the information
set forth in this Statement is true, complete and
correct.
Dated: April 16, 1998 /s/ DAVID MAUER
David Mauer
SIGNATURE
After reasonable inquiry and to the best of
my knowledge and belief, I certify that the information
set forth in this Statement is true, complete and
correct.
Dated: April 16, 1998 /s/ DAN COUGILL
Dan Cougill
SIGNATURE
After reasonable inquiry and to the best of
my knowledge and belief, I certify that the information
set forth in this Statement is true, complete and
correct.
Dated: April 16, 1998 /s/ JEFFREY G. WEBB
Jeffrey G. Webb
-23-
<PAGE> 24
Schedule A
DIRECTORS AND EXECUTIVE OFFICERS OF ROBERT HOLDINGS, INC.
Name and Position/Present Principal
Business Address Occupation or Employment
- ---------------- --------------------------
Robert E. Nederlander President,
c/o Robert Nederlander Chief Executive Officer and
810 Seventh Avenue Chief Financial Officer
New York, NY 10019
Principal Occupation --
President of Nederlander
Organization, Inc., which
is engaged in the
theatrical business.
Mr. Nederlander is a United
States citizen.
Schedule B
DIRECTORS AND EXECUTIVE OFFICERS OF LENNY CORP.
Name and Position/Present Principal
Business Address Occupation or Employment
- ---------------- --------------------------
Leonard Toboroff President and Chief
c/o The Corporation Trust Executive Officer.
Company
1209 Orange Street Principal Occupation -
Wilmington, Delaware 19801 investing.
Mr. Toboroff is a United
States citizen.
-24-
<PAGE> 25
Schedule C
TRUSTEE OF LEONARD TOBOROFF, P.C. DEFINED BENEFIT PLAN
Name and Position/Present Principal
Business Address Occupation or Employment
- ---------------- --------------------------
Leonard Toboroff Trustee
1125 Fifth Avenue
New York, New York 10029 Principal Occupation --
investing.
Mr. Toboroff is a United
States citizen.
Schedule D
DIRECTORS AND EXECUTIVE OFFICERS OF R.E.R CORP.
Name and Position/Present Principal
Business Address Occupation or Employment
- ---------------- --------------------------
Robert E. Nederlander President,
c/o Robert Nederlander Chief Executive Officer and
810 Seventh Avenue Chief Financial Officer
New York, NY 10019
Principal Occupation --
President of Nederlander
Organization, Inc., which
is engaged in the
theatrical business.
Mr. Nederlander is a United
States citizen.
-25-
<PAGE> 26
Schedule E
DIRECTORS AND EXECUTIVE OFFICERS OF JEMC CORP.
Name and Position/Present Principal
Business Address Occupation or Employment
- ---------------- --------------------------
John McConnaughy, Jr. President and Chief
1001 High Ridge Road Executive Officer.
Stamford, CT 06905
Principal Occupation -
investing.
Mr. McConnaughy is a United
States citizen.
Schedule F
DIRECTORS AND EXECUTIVE OFFICERS OF QEN, INC.
Name and Position/Present Principal
Business Address Occupation or Employment
- ---------------- --------------------------
Robert E. Nederlander President;
c/o Robert Nederlander Chief Executive Officer and
810 Seventh Avenue Chief Financial Officer.
New York, NY 10019
Principal Occupation --
President of Nederlander
Organization, Inc., which
is engaged in the
theatrical business.
Mr. Nederlander is a United
States citizen.
-26-
Exhibit 23
AMENDMENT TO NO. 2 TO STOCKHOLDERS' AGREEMENT
This AMENDMENT (the "Amendment")dated as of March 2, 1998 to the
STOCKHOLDERS' AGREEMENT, dated as of August 14, 1995 (the "Stockholders'
Agreement") by and among Robert Nederlander, as voting trustee (the "Voting
Trustee") under the Voting Trust Agreement dated as of May 29, 1991, by and
among Riddell Sports Inc., a Delaware corporation (the "Company") and all of
the stockholders of the Company listed on Schedule A thereto (the "Voting
Trust Agreement"), Lenny Corp., a Delaware corporation, Leonard Toboroff, P.C.
Defined Benefit Plan ("Benefit Plan"), Robert Nederlander ("Nederlander"),
John McConnaughy, Jr. ("McConnaughy"), Leonard Toboroff ("Toboroff"), David
Mauer ("Mauer"), Jeffrey Webb (the "Executive") Dan Cougill ("Cougill"),
R.E.R. Corp., a Michigan Corporation ("R.E.R."), Robert Holdings Inc., a
Delaware corporation ("RHI"), JEMC Corp., a Delaware corporation ("JEMC")
(JEMC together with Lenny Corp., Benefit Plan, Toboroff, Mauer, Nederlander,
McConnaughy, the Executive, R.E.R. and Cougill, the "Stockholders"), this 2nd
day of March, 1998.
NOW, THEREFORE, in consideration of the foregoing and mutual agreements
hereinafter contained, the parties hereto agree as follows:
Section A. Definition of "Stockholders". The definition of the
term "Stockholders" in the Stockholders' Agreement, as set forth in the first
paragraph thereof, is hereby amended to include the RHI, Nederlander and
McConnaughy as Stockholders and is restated in its entirety as follows:
"STOCKHOLDERS' AGREEMENT, dated as of August 14, 1995, as amended and restated
on June 26, 1997 and further amended as of March 2, 1998, by and among Robert
Nederlander, as voting trustee (the "Voting Trustee") under the Voting Trust
Agreement dated as of May 29, 1991, by and among Riddell Sports Inc., a
Delaware corporation (the "Company"), and all of the stockholders of the
Company listed on Schedule A thereto (the "Voting Trust Agreement"), Robert
Holdings Inc., a Delaware corporation ("RHI"), Lenny Corp., a Delaware
corporation, Leonard Toboroff, P.C. Defined Benefit Plan ("Benefit Plan"),
Leonard Toboroff ("Toboroff"), Robert Nederlander ("Nederlander"), John
McConnaughy, Jr. ("McConnaughy"), David Mauer ("Mauer"), Dan Cougill
("Cougill"), R.E.R. Corp., a Michigan Corporation ("R.E.R."), JEMC Corp., a
Delaware corporation ("JEMC") and Jeffrey G. Webb (the "Executive") (RHI,
Lenny Corp., Benefit Plan, Toboroff, Nederlander, McConnaughy, Mauer, Cougill,
RER, JEMC and the Executive are referred to as the "Stockholders").
Section B. Amendment to Section 1.2 (a). Section 1.2(a) of the
Stockholders' Agreement is hereby amended and restated in its entirety as
follows:
"1.2 Voting Agreement
(a) Each of the Stockholders (other than the Executive) hereby agrees
that, during the term of this Agreement, at any meeting of the stockholders of
the Company or any adjournment thereof, however called, or in any other
circumstances upon which its vote, consent, or other approval is sought, each
of the Stockholders (other than the Executive) shall vote or cause to be voted
such Stockholder's shares of Riddell Stock (other than shares subject to the
Voting Trust Agreement which are governed by such agreement) (i) as the Voting
Trustee votes the Riddell Stock held pursuant to the Voting Trust, and (ii)
during the Term of the Employment Agreement dated as of May 5, 1997 by and
between the Company and the Executive (the "Employment Agreement") (as "Term"
is defined in the Employment Agreement), and notwithstanding the above clause
(i), (a) in favor of the election of the Executive and a designee (the
"Designee") of Executive reasonably acceptable to the Board of Directors of
the Company (the "Company Board") (it being understood that any person who was
a senior vice president or director of Varsity Spirit Corporation on May 5,
1997 shall be an acceptable Designee to the Company Board without further
action) to the Company Board and (b) in favor of the Company's 1997 Stock
Option Plan (the "Plan").
Section C. Entire Amendment. Except as amended hereby, the
Stockholders' Agreement shall remain in full force and effect.
Section D. Counterparts. This Amendment may be executed in
counterparts, each of which shall be deemed an original, but both of which
together shall constitute one and the same instrument.
IN WITNESS WHEREOF, this Amendment has been fully executed and delivered
as of the day and year first above written.
/s/ Robert Nederlander
------------------------------------------
Robert Nederlander, as
Voting Trustee
ROBERT HOLDINGS, INC.
By: /s/ Robert Nederlander
------------------------------------------
Name: Robert Nederlander
Title: President
LENNY CORP.
By: /s/ Leonard Toboroff
------------------------------------------
Name: Leonard Toboroff
Title: President
LEONARD TOBOROFF, P.C.
DEFINED BENEFIT PLAN
By: /s/ Leonard Toboroff
------------------------------------------
Name: Leonard Toboroff
Title: Leonard Toboroff
/s/ Leonard Toboroff
------------------------------------------
Leonard Toboroff, in his individual capacity
JEMC CORP.
By: /s/ John McConnaughy, Jr.
-----------------------------------------
Name: John McConnaughy, Jr.
Title: President
R.E.R. Corp.
By: /s/ Robert Nederlander
------------------------------------------
Name: Robert Nederlander
Title: President
/s/ David Mauer
------------------------------------------
David Mauer, in his individual capacity
/s/ Dan Cougill
------------------------------------------
Dan Cougill, in his individual capacity
/s/ Jeffrey G. Webb
------------------------------------------
Jeffrey G. Webb, in his individual capacity
/s/ Robert Nederlander
------------------------------------------
Robert Nederlander, in his individual capacity
/s/ John McConnaughy, Jr.
------------------------------------------
John McConnaughy, in his individual capacity
