-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, M3igZHU9ORcSVUr2QLgSPFar2LVIj8ISdhgExzbBFUiRmVT60/rq+uAOGFL2bFb/ YbkCEHvcvDvCi4s7kqYwUw== 0000950136-04-001055.txt : 20040405 0000950136-04-001055.hdr.sgml : 20040405 20040405151200 ACCESSION NUMBER: 0000950136-04-001055 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 3 FILED AS OF DATE: 20040405 GROUP MEMBERS: JOSHUA LANDES GROUP MEMBERS: NELSON OBUS GROUP MEMBERS: WYNNEFIELD CAPITAL MANAGEMENT, LLC GROUP MEMBERS: WYNNEFIELD CAPITAL, INC. GROUP MEMBERS: WYNNEFIELD PARTNERS SMALL CAP VALUE, L.P. GROUP MEMBERS: WYNNEFIELD SMALL CAP OFFSHORE FUND, LTD. GROUP MEMBERS: WYNNEFIELD SMALL CAP VALUE L.P. I SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: SYLVAN INC CENTRAL INDEX KEY: 0000861291 STANDARD INDUSTRIAL CLASSIFICATION: AGRICULTURE PRODUCTION - CROPS [0100] IRS NUMBER: 251603408 STATE OF INCORPORATION: NV FISCAL YEAR END: 0103 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-41138 FILM NUMBER: 04717191 BUSINESS ADDRESS: STREET 1: 333 MAIN STREET STREET 2: P.O. BOX 249 CITY: SAXONBURG STATE: PA ZIP: 16056-0249 BUSINESS PHONE: 724-352-75 MAIL ADDRESS: STREET 1: 333 MAIN STREET STREET 2: P.O. BOX 249 CITY: SAXONBURG STATE: PA ZIP: 16056-0249 FORMER COMPANY: FORMER CONFORMED NAME: SYLVAN FOODS HOLDINGS INC DATE OF NAME CHANGE: 19930328 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: WYNNEFIELD PARTNERS SMALL CAP VALUE LP CENTRAL INDEX KEY: 0000899083 IRS NUMBER: 133688497 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: ONE PENN PLAZA STREET 2: SUITE 4720 CITY: NEW YORK STATE: NY ZIP: 10119 BUSINESS PHONE: 2127600814 MAIL ADDRESS: STREET 1: ONE PENN PLAZA STREET 2: SUITE 4720 CITY: NEW YORK STATE: NY ZIP: 10119 SC 13D/A 1 file001.txt SCHEDULE 13D/A UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13D (AMENDMENT NO. 8) Under the Securities Exchange Act of 1934 SYLVAN INC. ------------------------------------------------------------------- (Name of Issuer) Common Stock, $.001 par value ------------------------------------------------------------------- (Title of Class of Securities) 871371100 ------------------------------------------------------------------- (CUSIP Number) Wynnefield Partners Small Cap Value, L.P. 450 Seventh Avenue New York, New York 10123 Attention: Mr. Nelson Obus (212) 760-0134 ------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) Copies to: Jeffrey S. Tullman, Esq. Kane Kessler PC 1350 Avenue of the Americas New York, New York 10019 (212) 541-6222 April 1, 2004 ------------------------------------------------------------------- (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 ss.ss. 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box / /. SCHEDULE 13D - ---------------------- ---------------------------- CUSIP NO. 871371100 Page 2 of 11 Pages - ---------------------- ---------------------------- - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Wynnefield Partners Small Cap Value, L.P. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) [X] (b) [ ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* WC - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES BENEFICIALLY 382,897 OWNED BY ------------------------------------------------------ EACH 8 SHARED VOTING POWER REPORTING PERSON 0 WITH ------------------------------------------------------ 9 SOLE DISPOSITIVE POWER 382,897 ------------------------------------------------------ 10 SHARED DISPOSITIVE POWER 0 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 382,897 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7.4% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* PN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! SCHEDULE 13D - ---------------------- ---------------------------- CUSIP NO. 871371100 Page 3 of 11 Pages - ---------------------- ---------------------------- - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Wynnefield Small Cap Value Offshore Fund, Ltd. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) [X] (b) [ ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* WC - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Cayman Islands - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES BENEFICIALLY 179,686 OWNED BY ------------------------------------------------------ EACH 8 SHARED VOTING POWER REPORTING PERSON 0 WITH ------------------------------------------------------ 9 SOLE DISPOSITIVE POWER 179,686 ------------------------------------------------------ 10 SHARED DISPOSITIVE POWER 0 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 179,686 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 3.5% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* CO - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! SCHEDULE 13D - ---------------------- ---------------------------- CUSIP NO. 871371100 Page 4 of 11 Pages - ---------------------- ---------------------------- - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Wynnefield Partners Small Cap Value L.P. I - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) [X] (b) [ ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* WC - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES BENEFICIALLY 507,303 OWNED BY ------------------------------------------------------ EACH 8 SHARED VOTING POWER REPORTING PERSON 0 WITH ------------------------------------------------------ 9 SOLE DISPOSITIVE POWER 507,303 ------------------------------------------------------ 10 SHARED DISPOSITIVE POWER 0 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 507,303 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 9.8% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* PN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! SCHEDULE 13D - ---------------------- ---------------------------- CUSIP NO. 871371100 Page 5 of 11 Pages - ---------------------- ---------------------------- - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Wynnefield Capital Management, LLC - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) [X] (b) [ ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* N/A - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION New York - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES BENEFICIALLY 890,200 OWNED BY ------------------------------------------------------ EACH 8 SHARED VOTING POWER REPORTING PERSON 0 WITH ------------------------------------------------------ 9 SOLE DISPOSITIVE POWER 890,200 ------------------------------------------------------ 10 SHARED DISPOSITIVE POWER 0 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 890,200 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 17.3% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* OO - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! SCHEDULE 13D - ---------------------- ---------------------------- CUSIP NO. 871371100 Page 6 of 11 Pages - ---------------------- ---------------------------- - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Wynnefield Capital, Inc. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) [X] (b) [ ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* N/A - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES BENEFICIALLY 179,686 OWNED BY ------------------------------------------------------ EACH 8 SHARED VOTING POWER REPORTING PERSON 0 WITH ------------------------------------------------------ 9 SOLE DISPOSITIVE POWER 179,686 ------------------------------------------------------ 10 SHARED DISPOSITIVE POWER 0 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 179,686 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 3.5% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* CO - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! SCHEDULE 13D - ---------------------- ---------------------------- CUSIP NO. 871371100 Page 7 of 11 Pages - ---------------------- ---------------------------- - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Nelson Obus - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) [X] (b) [ ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* N/A - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION United States - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES BENEFICIALLY 12,000 OWNED BY ------------------------------------------------------ EACH 8 SHARED VOTING POWER REPORTING PERSON 1,069,886 WITH ------------------------------------------------------ 9 SOLE DISPOSITIVE POWER 12,000 ------------------------------------------------------ 10 SHARED DISPOSITIVE POWER 1,069,886 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,081,886 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 21.0% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! SCHEDULE 13D - ---------------------- ---------------------------- CUSIP NO. 871371100 Page 8 of 11 Pages - ---------------------- ---------------------------- - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Joshua Landes - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) [X] (b) [ ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* N/A - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION United States - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES BENEFICIALLY 0 OWNED BY ------------------------------------------------------ EACH 8 SHARED VOTING POWER REPORTING PERSON 1,069,886 WITH ------------------------------------------------------ 9 SOLE DISPOSITIVE POWER 0 ------------------------------------------------------ 10 SHARED DISPOSITIVE POWER 1,069,886 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,069,886 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 20.8% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! SCHEDULE 13D - ---------------------- ---------------------------- CUSIP NO. 871371100 Page 9 of 11 Pages - ---------------------- ---------------------------- The following constitutes Amendment No. 8 ("Amendment No. 8") to the Schedule 13D filed by Wynnefield Partners Small Cap Value, L.P. and its affiliates with the Securities and Exchange Commission on May 7, 1999. Item 4. Purpose of Transaction. Item 4 is hereby amended to add the following: On April 1, 2004 in connection with the amendment dated as of April 1, 2004 to the Agreement and Plan of Merger (the "Merger Agreement") dated as of November 16, 2003 among the Issuer, Snyder Associated Companies, Inc. ("Snyder") and SAC Holding Co. extending the "End Date" of the Merger Agreement from April 15, 2004 to June 15, 2004, the Wynnefield Group and Snyder entered into Amendment No. 1 (the "Voting Amendment") to the Voting Agreement dated as of November 16, 2003 among the Wynnefield Group and Snyder (the "Voting Agreement"). The Voting Amendment extended the term of the Voting Agreement from April 15, 2004 to June 15, 2004. In consideration of the Wynnefield Group's agreement to extend the Voting Agreement, Snyder paid the Wynnefield Group $20,000 as reimbursement of a portion of the legal fees incurred by the Wynnefield Group. In addition, on April 1, 2004 the Issuer and Wynnefield Capital, Inc. ("WCI") entered into Amendment No. 1 (the "Meeting Amendment") to that certain Agreement Regarding Annual Meeting dated as of December 15, 2003 between WCI and the Issuer (the "Meeting Agreement"). The Meeting Amendment postponed the date on which the Issuer would have to hold its 2004 Annual Meeting of stockholders, if the Merger Agreement is not consummated, from May 26, 2004 until July 12, 2004. Item 6 Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer See Item 4 for a description of Amendment No. 1 to the Voting Agreement. See Item 4 for a description of Amendment No. 1 to the Meeting Agreement. SCHEDULE 13D - ---------------------- ---------------------------- CUSIP NO. 871371100 Page 10 of 11 Pages - ---------------------- ---------------------------- Item 7. Material to be Filed as Exhibits. Exhibit 1 Amendment No. 1 to Voting Agreement dated as of April 1, 2004 by and among the Wynnefield Group and Snyder Associated Companies, Inc. Exhibit 2 Amendment No. 1 to Agreement Regarding Annual Meeting dated as of April 1, 2004 between Wynnefield Capital, Inc. and the Issuer. SCHEDULE 13D - ---------------------- ---------------------------- CUSIP NO. 871371100 Page 11 of 11 Pages - ---------------------- ---------------------------- SIGNATURE After reasonable inquiry and to the best of each of the undersigned's knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct. Date: April 5, 2004. - -------------------------------------------------------------------------------- Wynnefield Partners Small Cap Value, Wynnefield Partners Small Cap Value L.P. L.P. I By: Wynnefield Capital Management, By: Wynnefield Capital Management, LLC, its General Partner LLC, its General Partner By: /s/ Nelson Obus By: /s/ Nelson Obus --------------- --------------- Co-Managing Member Co-Managing Member - -------------------------------------------------------------------------------- Wynnefield Small Cap Value Offshore Wynnefield Capital Management, LLC Fund, Ltd. By: Wynnefield Capital, Inc. By: /s/ Nelson Obus By: /s/ Nelson Obus --------------- --------------- Co-Managing Member President - -------------------------------------------------------------------------------- Wynnefield Capital, Inc. By: /s/ Nelson Obus /s/ Nelson Obus --------------- --------------- President Nelson Obus - -------------------------------------------------------------------------------- /s/ Joshua Landes - ----------------- Joshua Landes - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- EX-1 3 file002.txt AMENDMENT NO. 1 TO VOTING AGREEMENT Exhibit 1 AMENDMENT NO. 1 TO VOTING AGREEMENT This Amendment No. 1 to Voting Agreement (this "AMENDMENT") is dated as of April 1, 2004, among each of the persons listed under the heading "Stockholders" on the signature page hereto (collectively, the "STOCKHOLDERS" and each, individually, a "STOCKHOLDER"), and Snyder Associated Companies, Inc., a Pennsylvania corporation. This Amendment amends that certain Voting Agreement, dated as of November 16, 2003, among the Stockholders and the Purchaser (the "VOTING AGREEMENT"). WITNESSETH: WHEREAS, the parties have agreed to make certain amendments to the Voting Agreement upon the terms and conditions set forth herein. NOW THEREFORE, in consideration of the premises, the mutual covenants and agreements contained herein and other valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and with the intent to be legally bound, the parties agree as follows: AMENDMENTS TO VOTING AGREEMENT 1. Section 5(d) of the Voting Agreement is hereby amended as follows: The reference to "April 15, 2004" is deleted and replaced with "June 15, 2004". 2. Ratification of Terms. Except as expressly amended by this Amendment, the Voting Agreement and each and every representation, warranty, covenant, term and condition contained therein remains in full force and effect. 3. Counterparts. This Amendment may be executed in different counterparts, each of which when executed shall be regarded as an original, and all such counterparts shall constitute one and the same agreement. 4. Capitalized Terms. Except for proper nouns and as otherwise defined herein, capitalized terms used herein as defined terms shall have the meanings ascribed to them in the Voting Agreement. 5. Governing Law. THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS HEREUNDER SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE SUBSTANTIVE LAWS OF THE STATE OF NEVADA WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAW. 6. Headings. The headings of this Amendment are for purposes of reference only and shall not limit or otherwise affect the meaning thereof. [SIGNATURE PAGES FOLLOW] IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the date and year first above written. PURCHASER: - ---------- SNYDER ASSOCIATED COMPANIES, INC. By: /s/ E.A. Snyder --------------------------------- E.A. Snyder, President STOCKHOLDERS: - ------------ WYNNEFIELD PARTNERS SMALL CAP VALUE, L.P. By: Wynnefield Capital Management, LLC, its General Partner By: /s/ Nelson Obus ------------------------------------- Nelson Obus, Co-Managing Member WYNNEFIELD PARTNERS SMALL CAP VALUE L.P.I By: Wynnefield Capital Management, LLC, its General Partner By: /s/ Nelson Obus ------------------------------------- Nelson Obus, Co-Managing Member WYNNEFIELD PARTNERS SMALL CAP VALUE OFFSHORE FUND, LTD. By: Wynnefield Capital, Inc. By: /s/ Nelson Obus ------------------------------------- Nelson Obus, President /s/ Nelson Obus - ------------------------------------- Nelson Obus EX-2 4 file003.txt AGREEMENT REGARDING ANNUAL MEETING Exhibit 2 AMENDMENT NO. 1 TO AGREEMENT REGARDING ANNUAL MEETING Amendment No. 1 to Agreement regarding Annual Meeting (this "Amendment") dated as of April 1, 2004 between Wynnefield Capital, Inc., a Delaware corporation ("WCI"), and Sylvan Inc., a Nevada corporation (the "Company"). BACKGROUND A. WCI and the Company are parties to that certain Agreement dated as of December 15, 2003 (the "Agreement") relating to, among other things, the Company's 2004 annual meeting of stockholders. Capitalized terms used herein and not defined are used as defined in the Agreement. B. WCI and the Company desire to amend the Agreement as set forth herein. NOW THEREFORE, the parties agree as follows: 1. Section 1(a). Section 1(a) of the Agreement is hereby amended by deleting "May 26, 2004" each time it appears and replacing it with "July 12, 2004". 2. Sections 1(c) and 1(d). Each of Sections 1(c) and 1(d) of the Agreement is hereby amended by deleting "May 27, 2004" each time it appears and replacing it with "July 13, 2004". 3. Effect. Except to the extent expressly set forth in this Amendment, all the terms and conditions of the Agreement shall remain in full force and effect and all such terms are hereby ratified and confirmed in all respects. This Amendment is limited as specified and shall not constitute a modification, acceptance or waiver of any other provision of the Agreement. 4. Counterparts. This Amendment may be signed in any number of counterparts and via facsimile with the same effect as if the signature to each counterpart were upon a single instrument. All counterparts shall be deemed an original of this Amendment. 5. Governing Law. This Amendment, in all respects, shall be interpreted, enforced and governed by and under the laws of the State of New York, excluding conflict of law principles, as they exist on the date that this Amendment is fully executed by the parties. [SIGNATURE PAGE FOLLOWS] IN WITNESS WHEREOF, the undersigned have executed this Amendment as of the date first written above. SYLVAN INC. By: /s/ Fred Bennitt ------------------------------ Name: Fred Bennitt Title: Secretary/Treasurer WYNNEFIELD CAPITAL, INC. By: /s/ Nelson Obus ------------------------------ Name: Nelson Obus Title: President -----END PRIVACY-ENHANCED MESSAGE-----