-----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, LD3MNoVza/x8F6ReWwXWORE7IkQMSKprS/hNdBwL5ic79N0pRFnFGjX8nc8Tq6fs UnsdAwv0izjKtEcSq/0M4g== 0000902561-03-000498.txt : 20031022 0000902561-03-000498.hdr.sgml : 20031022 20031022135644 ACCESSION NUMBER: 0000902561-03-000498 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20031022 GROUP MEMBERS: A. GEORGE KALLOP GROUP MEMBERS: BENNETT H. TOLLEFSON CHARITABLE LEAD UNITRUST GROUP MEMBERS: BLACKMAN CHARITABLE REMAINDER TRUST GROUP MEMBERS: BLACKMAN INVESTMENTS LLC GROUP MEMBERS: LOUISE B. BLACKMAN TOLLEFSON FAMILY FOUNDATION GROUP MEMBERS: LOUISE B. TOLLEFSON 2000 FLORIDA INTANGIBLE TAX TRUST GROUP MEMBERS: LOUISE B. TOLLEFSON CHARITABLE LEAD ANNUITY TRUST GROUP MEMBERS: MARINER PARTNERS, INC. GROUP MEMBERS: MARK W. BLACKMAN GROUP MEMBERS: WILLIAM D. SHAW, JR. GROUP MEMBERS: WILLIAM J. MICHAELCHECK FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: MARINER PARTNERS INC CENTRAL INDEX KEY: 0001168360 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 780 THIRD AVENUE CITY: NEW YORK STATE: NY ZIP: 10017 BUSINESS PHONE: 2127586200 MAIL ADDRESS: STREET 1: 780 THIRD AVENUE CITY: NEW YORK STATE: NY ZIP: 10017 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: NYMAGIC INC CENTRAL INDEX KEY: 0000847431 STANDARD INDUSTRIAL CLASSIFICATION: SURETY INSURANCE [6351] IRS NUMBER: 133534162 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-40907 FILM NUMBER: 03951552 BUSINESS ADDRESS: STREET 1: 330 MADISON AVE CITY: NEW YORK STATE: NY ZIP: 10017 BUSINESS PHONE: 2125510600 MAIL ADDRESS: STREET 1: 330 MADISON AVE CITY: NEW YORK STATE: NY ZIP: 10017 SC 13D/A 1 sc13d.txt SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ---------------------- SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. 2) - ------------------------------------------------------------------------------- NYMAGIC, INC. - ------------------------------------------------------------------------------- (Name of Issuer) Common Stock, $1.00 Par Value - ------------------------------------------------------------------------------- (Title of Class of Securities) 629484106 - ------------------------------------------------------------------------------- (CUSIP Number) William J. Michaelcheck Mariner Partners, Inc. 780 Third Avenue 16th Floor New York, NY 10017 Copy to: Laura D. Richman Mayer, Brown, Rowe & Maw 190 S. LaSalle St. Chicago, IL 60603 312-701-7304 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) October 16, 2003 - ------------------------------------------------------------------------------- (Date of Events Which Require 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 /X/ (with respect to Mark W. Blackman and John N. Blackman, Jr.) (Continued on following pages) (Page 1 of 23 Pages) Page 2 CUSIP NO.: 629484106 SCHEDULE 13D 1 NAME OF REPORTING PERSONS Mariner Partners, Inc. I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY): - ------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_| (b) |X| - ------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------------------------------------------------------------------- 4 SOURCE OF FUNDS OO [Not yet determined] - ------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) |_| - ------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF 0 SHARES ----------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER OWNED BY EACH 5,444,171 REPORTING ----------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER 0 ----------------------------------------- 10 SHARED DISPOSITIVE POWER 1,800,000 shares subject to option ----------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,444,171 based on shared voting power - ------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES |_| - ------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 56.1% - ------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON CO - ------------------------------------------------------------------------------- Page 3 CUSIP NO.: 629484106 SCHEDULE 13D 1 NAME OF REPORTING PERSONS Mark W. Blackman. I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY): - ------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_| (b) |X| - ------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------------------------------------------------------------------- 4 SOURCE OF FUNDS Not applicable - ------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) |_| - ------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION U.S.A. - ------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF 0 SHARES ----------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER OWNED BY EACH 5,444,171 REPORTING ----------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER 1,269,530 ----------------------------------------- 10 SHARED DISPOSITIVE POWER 450,000 ----------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,444,171 based on shared voting power - ------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES |X| - ------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 56.1% - ------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON IN - ------------------------------------------------------------------------------- Page 4 CUSIP NO.: 629484106 SCHEDULE 13D 1 NAME OF REPORTING PERSONS Blackman Investments LLC I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY): - ------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_| (b) |X| - ------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------------------------------------------------------------------- 4 SOURCE OF FUNDS Not applicable - ------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) |_| - ------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Connecticut - ------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF 0 SHARES ----------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER OWNED BY EACH 5,444,171 REPORTING ----------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER 1,170,030 ----------------------------------------- 10 SHARED DISPOSITIVE POWER 550,000 ----------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,444,171 based on shared voting power - ------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES |_| - ------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 56.1% - ------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON OO - ------------------------------------------------------------------------------- Page 5 CUSIP NO.: 629484106 SCHEDULE 13D 1 NAME OF REPORTING PERSONS Blackman Charitable Remainder Trust I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY): - ------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_| (b) |X| - ------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------------------------------------------------------------------- 4 SOURCE OF FUNDS Not applicable - ------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) |_| - ------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Connecticut - ------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF 0 SHARES ----------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER OWNED BY EACH 5,444,171 REPORTING ----------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER 100,000 ----------------------------------------- 10 SHARED DISPOSITIVE POWER 0 ----------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,444,171 based on shared voting power - ------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES |_| - ------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 56.1% - ------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON 0O - ------------------------------------------------------------------------------- Page 6 CUSIP NO.: 629484106 SCHEDULE 13D 1 NAME OF REPORTING PERSONS Louise B. Tollefson 2000 Florida Intangible Tax Trust Dated 12/12/00 I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY): - ------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_| (b) |X| - ------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------------------------------------------------------------------- 4 SOURCE OF FUNDS Not applicable - ------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) |_| - ------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Florida - ------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF 0 SHARES ----------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER OWNED BY EACH 5,444,171 REPORTING ----------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER 914,611 ----------------------------------------- 10 SHARED DISPOSITIVE POWER 900,000 ----------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,444,171 based on shared voting power - ------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES |_| - ------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 56.1% - ------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON 0O - ------------------------------------------------------------------------------- Page 7 CUSIP NO.: 629484106 SCHEDULE 13D 1 NAME OF REPORTING PERSONS Louise B. Blackman Tollefson Family Foundation dated 3/24/98 I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY): - ------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_| (b) |X| - ------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------------------------------------------------------------------- 4 SOURCE OF FUNDS Not applicable - ------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) |_| - ------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Florida - ------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF 0 SHARES ----------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER OWNED BY EACH 5,444,171 REPORTING ----------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER 133,401 ----------------------------------------- 10 SHARED DISPOSITIVE POWER 133,401 ----------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,444,171 based on shared voting power - ------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES |_| - ------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 56.1% - ------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON 0O - ------------------------------------------------------------------------------- Page 8 CUSIP NO.: 629484106 SCHEDULE 13D 1 NAME OF REPORTING PERSONS Louise B. Tollefson Charitable Lead Annuity Trust dated 3/30/00 I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY): - ------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_| (b) |X| - ------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------------------------------------------------------------------- 4 SOURCE OF FUNDS Not applicable - ------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) |_| - ------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Florida - ------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF 0 SHARES ----------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER OWNED BY EACH 5,444,171 REPORTING ----------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER 309,450 ----------------------------------------- 10 SHARED DISPOSITIVE POWER 309,450 ----------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,444,171 based on shared voting power - ------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES |_| - ------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 56.1% - ------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON OO - ------------------------------------------------------------------------------- Page 9 CUSIP NO.: 629484106 SCHEDULE 13D 1 NAME OF REPORTING PERSONS Bennett H. Tollefson Charitable Lead Unitrust dated 3/30/00 I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY): - ------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_| (b) |X| - ------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------------------------------------------------------------------- 4 SOURCE OF FUNDS Not applicable - ------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) |_| - ------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Florida - ------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF 0 SHARES ----------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER OWNED BY EACH 5,444,171 REPORTING ----------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER 291,093 ----------------------------------------- 10 SHARED DISPOSITIVE POWER 291,093 ----------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,444,171 based on shared voting power - ------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES |_| - ------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 56.1% - ------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON 0O - ------------------------------------------------------------------------------- Page 10 CUSIP NO.: 629484106 SCHEDULE 13D 1 NAME OF REPORTING PERSONS William J. Michaelcheck I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY): - ------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_| (b) |X| - ------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------------------------------------------------------------------- 4 SOURCE OF FUNDS OO [Not yet determined] - ------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) |_| - ------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION U.S.A. - ------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF 0 SHARES ----------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER OWNED BY EACH 5,444,171 REPORTING ----------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER 0 ----------------------------------------- 10 SHARED DISPOSITIVE POWER 1,800,000 shares subject to option ----------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,444,171 based on shared voting power - ------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES |_| - ------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 56.1% - ------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON IN - ------------------------------------------------------------------------------- Page 11 CUSIP NO.: 629484106 SCHEDULE 13D 1 NAME OF REPORTING PERSONS A. George Kallop I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY): - ------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_| (b) |X| - ------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------------------------------------------------------------------- 4 SOURCE OF FUNDS OO [Not yet determined] - ------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) |_| - ------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION U.S.A. - ------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF 0 SHARES ----------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER OWNED BY EACH 0 REPORTING ----------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER 0 ----------------------------------------- 10 SHARED DISPOSITIVE POWER 315,000 shares subject to option ----------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 315,000 based on shared dispositive power - ------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES |_| - ------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 3.2% - ------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON IN - ------------------------------------------------------------------------------- Page 12 CUSIP NO.: 629484106 SCHEDULE 13D 1 NAME OF REPORTING PERSONS William D. Shaw, Jr. I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY): - ------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_| (b) |X| - ------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------------------------------------------------------------------- 4 SOURCE OF FUNDS OO [Not yet determined] - ------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) |_| - ------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF 0 SHARES ----------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER OWNED BY EACH 0 REPORTING ----------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER 0 ----------------------------------------- 10 SHARED DISPOSITIVE POWER 315,000 shares subject to option ----------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 315,000 based on shared dispositive power - ------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES |_| - ------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 3.2% - ------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON IN - ------------------------------------------------------------------------------- Page 13 Item 1: Security and Issuer. (a) This statement on Schedule 13D relates to shares of common stock, $1.00 par value, of NYMAGIC, INC., a New York corporation ("NYMAGIC") (b) NYMAGIC's principal executive offices are located at: 919 Third Avenue 10th Floor New York, NY 10022 Item 4: Purpose of Transaction. As further described in Item 6, Mariner has the right to vote the Voting Shares (as defined in Item 6) representing approximately 56.1% of the voting stock of NYMAGIC, with the approval of two out of three of the Participating Shareholders (as defined in Item 6) subject to certain provisions of the voting agreement further described in Item 6. In this manner, the parties to the voting agreement are able to use their combined shareholder voting power to influence key matters that require shareholder approval. Mariner and the Participating Shareholders reserve the right to undertake a proxy or consent solicitation, or to take shareholder action by written consent, to accomplish their objectives. Pursuant to the voting agreement, one purpose of this transaction was to govern the composition of the Board of Directors of NYMAGIC. Under the voting agreement, (i) Mariner is entitled to nominate four candidates for election to the board, (ii) each Participating Shareholder is entitled to nominate two candidates for election to the board and (iii) the Chief Executive Officer of NYMAGIC is entitled to nominate two candidates for election to the board, for a total of twelve directors. The directors designated by Mariner and elected on May 22, 2002 and May 29, 2003 are William J. Michaelcheck, William D. Shaw, Jr., George R. Trumbull III and A. George Kallop. The directors designated by the Participating Shareholders and elected on May 22, 2002 and May 29, 2003 are Mark W. Blackman, John N. Blackman, Jr., Robert G. Simses, John R. Anderson, Glenn J. Angiolillo and Glenn R. Yanoff. The directors designated by the Chief Executive Officer and appointed on February 3, 2003 and March 13, 2003, respectively, are David W. Young and John T. Baily and these directors were also elected on May 29, 2003. The board of directors elected on May 22, 2002 appointed the following persons as officers of NYMAGIC: George R. Trumbull III as Chairman, William D. Shaw, Jr. as Vice Chairman and A. George Kallop as Executive Vice President. Mr. Trumbull was also Page 14 appointed the Chief Executive Officer on June 10, 2002. These officers were reappointed on May 29, 2003. The board of directors also approved an investment management agreement whereby Mariner was engaged as sole investment adviser to manage the portfolio of NYMAGIC and its insurance company subsidiaries. The parties to the voting agreement may decide to cause additional changes to the way NYMAGIC is operated, but those changes have not yet been determined. It is possible that they will cause NYMAGIC to enter into new lines of business or to exit existing lines of business. Assets may be sold or purchased. Business or corporate transactions of various types may be considered. In addition to the executive officers mentioned above, it is possible that Mariner employees may serve as officers, employees or consultants of NYMAGIC. Pursuant to the voting agreement, the Participating Shareholders granted Mariner the option to purchase an aggregate of up to 1,800,000 of their shares of NYMAGIC. On April 4, 2002, Mariner entered into an agreement with each of William D. Shaw, Jr. and A. George Kallop, whereby Mariner agreed to hold a portion of the option covering 315,000 shares of NYMAGIC as nominee for each of Mr. Shaw and Mr. Kallop, who agreed to be bound to the terms of the voting agreement. Each of Mr. Shaw and Mr. Kallop have contractual relationships with Mariner, with Mr. Kallop's contract relating to consulting services and Mr. Shaw's contract relating to investment services. NYMAGIC has filed a shelf registration, Registration Number 333-106547, (the "Registration Statement") pursuant to which Mark W. Blackman, Blackman Investments LLC, Louise B. Tollefson 2000 Florida Intangible Trust, Louise B. Blackman Tollefson Family Foundation, Louise B. Tollefson Charitable Lead Annuity Trust and Bennett H. Tollefson Charitable Lead Unitrust may sell up to an aggregate of 2,150,000 of their shares of NYMAGIC. These reporting persons have not committed to sell their shares, but they are exploring the possibility of a sale of their registered shares depending upon market conditions. In addition, the Registration Statement also covers the 1,800,000 option shares granted to Mariner pursuant to the voting agreement, including the portions being held for William D. Shaw, Jr. and A. George Kallop. Upon effectiveness of the shelf registration, these reporting persons will have the flexibility to sell the registered shares from time to time at market prices prevailing at the time of sale, at prices related to market prices, at a fixed price or prices subject to change or at negotiated prices, by a variety of methods including the following: o on the New York Stock Exchange, in the over-the-counter market, or on another national securities exchange (any of which may include crosses and block transactions); o in privately negotiated transactions; o through broker-dealers, who may act as agents or principals, including through ordinary brokerage transactions and transactions in which a broker solicits purchasers; o in a block trade in which a broker-dealer will attempt to sell a block of shares of common stock as agent but may position and resell a portion of the block as principal to facilitate the transaction; o through one or more underwriters, dealers and agents, on a firm commitment or best efforts basis, who may receive compensation in the form of underwriting discounts, concessions or commissions from a seller and/or the purchasers of the shares for whom they may act as agent; Page 15 o through exchange distributions in accordance with the rules of the applicable exchange; o directly to one or more purchasers; o through agents; o through option transactions, forward contracts, equity swaps or other derivative transactions relating to the securities; o through short sales of the securities; o in any combination of the above; and o in any other lawful manner. Item 5: Interest in Securities of the Issuer. Mariner and the Participating Shareholders share voting power with respect to 5,444,171 shares of common stock of NYMAGIC, representing approximately 56.1% of the outstanding shares of common stock of NYMAGIC. Mariner does not have the power to dispose of any of these shares. The Participating Shareholders have power to dispose of their respective shares of NYMAGIC, which are further identified in Item 6, provided that they retain shares necessary for Mariner to exercise its option and provided further that the transferee agrees to be bound by the voting agreement except that the Participating Shareholders have waived this requirement with respect to shares sold pursuant to the Registration Statement on or prior to December 31, 2003 and except that each Participating Shareholder may transfer an aggregate of 250,000 shares that will not be subject to the voting agreement. Pursuant to the voting agreement, Mariner received an option to acquire 1,800,000 shares of common stock from the Participating Shareholders, representing approximately 18.5% of the outstanding shares of common stock of NYMAGIC. The voting agreement permits Mariner to assign the options to William J. Michaelcheck, William D. Shaw, Jr., George R. Trumbull III, A. George Kallop or any other employee or consultant working for Mariner in connection with NYMAGIC or to any other person agreed to by at least two Participating Shareholders. Option transferees must agree to be bound to the terms of the voting agreement. On April 4, 2002, Mariner entered into an agreement with each of William D. Shaw, Jr. and A. George Kallop, whereby Mariner agreed to hold a portion of the option covering 315,000 shares of NYMAGIC as nominee for each of Mr. Shaw and Mr. Kallop, who agreed to be bound to the terms of the voting agreement. Each of Mr. Shaw and Mr. Kallop have contractual relationships with Mariner, with Mr. Kallop's contract relating to consulting services and Mr. Shaw's contract relating to investment services.
Page 16 The following chart sets forth beneficial ownership information with respect to each of the reporting persons: - ------------------------------------------------------------------------------------------------------------------------ Number of Shares Beneficially Owned by Each Reporting Person - ------------------------------------------------------------------------------------------------------------------------ Name of Reporting Person Sole Shared Sole Shared Aggregate Percentage No. of Voting Voting Dispositive Dispositive No. of of Shares Shares Held Power Power Power Power Shares Beneficially Subject to Beneficially Owned (1) Mariner Owned (1) Option - ------------------------------------------------------------------------------------------------------------------------ Mariner Partners, Inc. 0 5,444,171 0 1,800,000 1,800,000 0 0 - ------------------------------------------------------------------------------------------------------------------------ William J. Michaelcheck 0 5,444,171 0 1,800,000 1,800,000 0 0 - ------------------------------------------------------------------------------------------------------------------------ Mark W. Blackman 0 5,444,171 1,269,530 450,000 1,719,530 17.8% 450,000 (2) (2) (2) - ------------------------------------------------------------------------------------------------------------------------ Blackman Investments LLC 0 5,444,171 1,170,030 550,000 1,720,030 17.8% 450,000 (3) - ------------------------------------------------------------------------------------------------------------------------ Blackman Charitable 0 5,444,171 100,000 0 100,000 1.0% 0 Remainder Trust - ------------------------------------------------------------------------------------------------------------------------ Louise B. Tollefson 2000 0 5,444,171 914,611 900,000 1,080,667 11.2% (6) Florida Intangible Trust (4) (5) - ------------------------------------------------------------------------------------------------------------------------ Louise B. Blackman 0 5,444,171 133,401 133,401 133,401 1.4% (6) Tollefson Family (4) (5) Foundation - ------------------------------------------------------------------------------------------------------------------------ Louise B. Tollefson 0 5,444,171 309,450 309,450 309,450 3.2% (6) Charitable Lead Annuity (4) (5) Trust - ------------------------------------------------------------------------------------------------------------------------ Bennett H. Tollefson 0 5,444,171 291,093 291,093 291,093 3.0% (6) Charitable Lead Unitrust (4) (5) - ------------------------------------------------------------------------------------------------------------------------ A. George Kallop 0 0 0 315,000 315,000 0 0 (7) - ------------------------------------------------------------------------------------------------------------------------ William D. Shaw, Jr. 0 0 0 315,000 315,000 0 0 (7) - ------------------------------------------------------------------------------------------------------------------------ (1) These percentages are calculated excluding shared voting power. These percentages have been calculated without giving effect to the Mariner options. If the Mariner options were exercised, Mariner's and William J. Michaelcheck's percentage would be 18.6%; Mark W. Blackman's percentage would be 13.1%, Blackman Investments LLC's percentage would be 13.1%, A. George Kallop's percentage would be 3.3% and William D. Shaw, Jr.'s percentage would be 3.3%. The percentages for each Tollefson Trust would depend on how the options are allocated among the trusts. If the full options were allocated to the Louise B. Tollefson 2000 Florida Intangible Trust, its percentage after option exercise would be 1.9%. The percentage of each of the other Tollefson Trusts could be reduced to 0% if the maximum possible options were allocated to it. See footnote 6. (2) Excludes 260,000 shares which Mark W. Blackman may be deemed to beneficially own as guardian of minors, together owning 160,000 shares, and spouse owning 100,000, and may be deemed to have power to vote such 260,000 shares. Mark W. Blackman disclaims beneficial ownership of such 260,000 shares. (3) Includes 100,000 shares subject to the option described in NYMAGIC's Current Report on Form 8-K dated January 31, 2003. (4) If the Tollefson Trustee, who has the sole power to determine the number of shares to be provided by any one or more of the Tollefson Trusts upon exercise of the option, allocates the maximum number of shares subject to the option from the Tollefson Trusts other than this Reporting Person. (5) Maximum number of shares subject to the option. (6) An aggregate of 900,000 shares held by the Tollefson Trusts are subject to the option; the Tollefson Trustee has the sole power to determine the number of shares to be provided by any one or more of the Tollefson Trusts upon exercise of the option. (7) Beneficial ownership of these shares is being reported by A. George Kallop and William D. Shaw, Jr. because of a possible interpretation that they beneficially own the shares underlying the portion of the options assigned to each of them by Mariner.
Page 17 William J. Michaelcheck and Charles R. Howe II do not individually own any shares of NYMAGIC. John Blackman and Kathleen Blackman individually do not own any shares of NYMAGIC. In addition to the Tollefson trust interests set forth above, Louise B. Tollefson owns 5,262 shares of NYMAGIC for which she has sole voting and dispositive power. Louise B. Tollefson may be deemed to beneficially own an additional 1,402 shares owned by her spouse Bennett H. Tollefson, and may be deemed to have power to vote such shares. Louise B. Tollefson disclaims beneficial ownership of such 1,402 shares. In addition, she is a beneficiary of the Louise B. Tollefson and Bennett H. Tollefson Charitable Remainder Unitrust dated 3/24/98, which owns 96,600 shares of NYMAGIC but she does not have voting or dispositive power over such shares. Each of the reporting persons disclaims beneficial ownership of the shares for which it does not have dispositive power. Item 6: Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer. Mariner entered into a voting agreement relating to the stock of NYMAGIC as of February 20, 2002 (subsequently amended as of March 1, 2002, January 27, 2003 and March 12, 2003) with (i) MARK W. BLACKMAN; BLACKMAN INVESTMENTS LLC ("Blackman Investments"); JOHN N. BLACKMAN, JR. (the "Blackman Trustee") as trustee of the Blackman Charitable Remainder Trust (the "Blackman Co-Trust"); and ROBERT G. SIMSES (the "Tollefson Trustee") as trustee of the Louise B. Tollefson 2000 Florida Intangible Tax Trust dated 12/12/00, as trustee of the Louise B. Blackman Tollefson Family Foundation dated 3/24/98, as co-trustee of the Louise B. Tollefson Charitable Lead Annuity Trust dated 3/30/00, and as co-trustee of the Bennett H. Tollefson Charitable Lead Unitrust dated 3/30/00 (the "Participating Shareholders"); (ii) KATHLEEN BLACKMAN as co-trustee with the Blackman Trustee of the Blackman Charitable Remainder Trust; and (iii) FIRST UNION NATIONAL BANK (the "Bank Trustee") as co-trustee with the Tollefson Trustee of the Louise B. Tollefson Charitable Lead Annuity Trust dated 3/30/00, and as co-trustee with the Tollefson Trustee of the Bennett H. Tollefson Charitable Lead Unitrust (the "Tollefson Co-Trusts"). The Bank Trustee is currently Wachovia Bank, N.A. as successor to First Union National Bank. The following shares are subject to the voting agreement (the "Voting Shares"): (i) the 1,719,530 Shares of NYMAGIC for which Mark W. Blackman has sole voting power; (ii) the 1,720,030 Shares of NYMAGIC for which Blackman Investments has sole voting power; Page 18 (iii) the 100,000 Shares of NYMAGIC held by the Blackman Charitable Remainder Trust for which the Blackman Trustee has, with the approval of Kathleen Blackman, sole voting power; and (iv) the 1,080,667 Shares of NYMAGIC held by the Louise B. Tollefson 2000 Florida Intangible Tax Trust, the 67,244 shares held by the Louise B. Blackman Tollefson Family Foundation, the 337,865 Shares held by the Louise B. Tollefson Charitable Lead Annuity Trust, and the 328,835 Shares of NYMAGIC held by the Bennett H. Tollefson Charitable Lead Unitrust for which the Tollefson Trustee has, with the consent and agreement of the Bank Trustee, voting power (hereinafter the "Tollefson Shares"). For the purposes of the voting agreement there are three "Participating Shareholders": (i) Mark W. Blackman; (ii) Blackman Investments and the Blackman Trustee as co-trustee of the Blackman Charitable Remainder Trust dated April 1, 2001 (with Blackman Investments and the Blackman Trustee constituting one Participating Shareholder for all purposes under the Voting Agreement); and (iii) The Tollefson Trustee as sole trustee of the Louise B. Tollefson 2000 Florida Intangible Tax Trust dated December 12, 2000; as sole trustee of the Louise B. Blackman Tollefson Family Foundation dated March 24, 1998; as co-trustee of the Louise B. Tollefson Charitable Lead Annuity Trust dated March 30, 2000; and as co-trustee of the Bennett H. Tollefson Charitable Lead Unitrust dated March 30, 2000 (such trusts being collectively, the "Tollefson Trusts"). Pursuant to the voting agreement, Mariner has been granted the right, with (and only with) the written approval of two of the three Participating Shareholders, to exercise all of the rights of a shareholder of NYMAGIC and to vote the Voting Shares at all meetings of shareholders. In the event that two of the three Participating Shareholders fail to approve any vote by Mariner on any matter, Mariner shall not vote on such matter, and Mariner's non-voting will not entitle any Participating Shareholder to instead vote his or its Voting Shares on that matter. However, Mariner does not have the right to vote on or consent to (a) the merger or consolidation of NYMAGIC into or with another corporation, (b) the sale of all or substantially all of its assets, (c) its dissolution and/or liquidation, or (d) any recapitalization or stock offering of NYMAGIC, unless two of the three Participating Shareholders consent thereto in writing. In the event that two of the three Participating Shareholders fail to approve any vote by Mariner on any matter referred to in the preceding sentence, Mariner shall not vote on such matter and instead each Participating Shareholder may vote his or its Voting Shares on that matter. Page 19 Under the voting agreement, (i) Mariner is entitled to nominate four candidates for election to the board, (ii) each Participating Shareholder is entitled to nominate two candidates for election to the board and (iii) the Chief Executive Officer of NYMAGIC is entitled to nominate two candidates for election to the board, for a total of twelve directors. The directors designated by Mariner and elected on May 22, 2002 are William J. Michaelcheck, William D. Shaw, Jr., George R. Trumbull III and A. George Kallop. The directors designated by the Participating Shareholders and elected on May 22, 2002 and May 29, 2003 are Mark W. Blackman, John N. Blackman, Jr., Robert G. Simses, John R. Anderson, Glenn J. Angiolillo and Glenn R. Yanoff. The directors designated by the Chief Executive Officer and appointed on February 3, 2003 and March 13, 2003, respectively, are David W. Young and John T. Baily and these directors were also elected on May 29, 2003. The Participating Shareholders have agreed, consistent with director fiduciary duties, to cause their nominees to the Board to vote for one of the Mariner-nominated members of the Board, as designated by Mariner, as Chairman of each meeting. George R. Trumbull III was appointed Chairman of NYMAGIC on May 22, 2002 and was appointed Chief Executive Officer of NYMAGIC on June 10, 2002. If a Participating Shareholder does not nominate the full number of candidates for election to the Board that such Participating Shareholder is authorized to nominate, then in addition to its other rights, Mariner, instead of that Participating Shareholder, may nominate a number of candidates equal to the number not nominated by that Participating Shareholder. The voting agreement also gives Mariner the right to purchase at any time and from time to time up to 1,800,000 shares of NYMAGIC from the Participating Shareholders in the amounts set forth below opposite each such Participating Shareholder's name: (i) Mark W. Blackman - 450,000 shares; (ii) Blackman Investments - 450,000 shares; (iii) the Tollefson Trustee - 900,000 shares, provided that the Tollefson Trustee shall have the sole power to determine the number of shares to be provided by any one of the Tollefson Trusts. Page 20 (iv) The exercise price for the options is as follows: Time Period Price --------------------------------------- ---------------- February 15-May 14, 2002: $19.00 per share May 15-August 14, 2002: $19.25 per share August 15-November 14, 2002: $19.50 per share November 15, 2002-February 14, 2003: $19.75 per share February 15-May 14, 2003: $20.00 per share May 15-August 14, 2003: $20.25 per share August 15-November 14, 2003: $20.50 per share November 15, 2003-February 14, 2004: $20.75 per share February 15-May 14, 2004: $21.00 per share May 15-August 14, 2004: $21.25 per share August 15-November 14, 2004: $21.50 per share November 15, 2004-February 14, 2005: $21.75 per share February 15-May 14, 2005: $22.00 per share May 15-August 14, 2005: $22.25 per share August 15-November 14, 2005: $22.50 per share November 15, 2005-February 14, 2006: $22.75 per share February 15-May 14, 2006: $23.00 per share May 15-August 14, 2006: $23.25 per share August 15-November 14, 2006: $23.50 per share November 15, 2006-February 14, 2007: $23.75 per share February 15-March 17, 2007: $24.00 per share Less, in each case, the cumulative amount of dividends paid by NYMAGIC in respect of each share of its common stock from January 31, 2003 through to the date Mariner purchases such option shares. On April 4, 2002, Mariner entered into an agreement with each of William D. Shaw, Jr. and A. George Kallop, whereby Mariner agreed to hold a portion of the option covering 315,000 shares of NYMAGIC as nominee for each of Mr. Shaw and Mr. Kallop, who agreed to be bound to the terms of the voting agreement. Messrs. Kallop and Shaw have contractual relationships with Mariner, with Mr. Kallop's contract relating to consulting services and Mr. Shaw's contract relating to investment services. The voting agreement terminates upon the earliest to occur of the following dates (the "Termination Date"): (i) February 15, 2007; (ii) the merger or consolidation of NYMAGIC into another corporation, the sale of all or substantially all its assets or its dissolution and/or its liquidation; (iii) immediately upon the resignation of Mariner; or (iv) upon written notice of such termination to Mariner from all of the Participating Shareholders, provided, that except where such written notice of termination is due to gross negligence or willful misconduct that causes or is reasonably likely to cause direct, substantial and provable damage to NYMAGIC, the options shall continue in full force and effect until the close of business on February 15, 2007. Page 21 Mariner's voting rights, board nomination rights and right to acquire option shares representing in the aggregate ten percent (10%) or more of the voting power conferred by all of the voting stock of NYMAGIC at the time outstanding were granted subject to the New York Superintendent of Insurance either (i) having given his prior approval thereto pursuant to Section 1506 of the New York Insurance Law or (ii) having determined pursuant to Section 1501(c) of the New York Insurance Law that no such approval is required. Such approval was granted by the New York Superintendent of Insurance on July 31, 2002. The Participating Shareholders may transfer their Voting Shares; provided that (i) they at all times retain the number of Voting Shares necessary to enable Mariner to exercise its options and (ii) the transferred shares remain subject to the voting agreement. The Participating Shareholders have waived the requirement that transferred shares remain subject to the voting agreement to the extent that such shares are sold pursuant to the Registration Statement on or prior to December 31, 2003. In addition, each Participating Shareholder is allowed to sell up to 250,000 Voting Shares, which shares would then no longer be subject to the voting agreement. The summary of the voting agreement contained in this Schedule 13D is qualified in its entirety by reference to the full text of the voting agreement and all amendments thereto, which are attached as Exhibits 99.1 and 99.2 to this schedule. Item 7: Material to be Filed as Exhibits. 99.1 Voting Agreement dated as of February 20, 2002, as amended March 1, 2002 (previously filed) 99.2 Amendment No. 2 dated as of January 27, 2003, to Voting Agreement (previously filed) 99.3 Amendment No. 3 dated as of March 12, 2003, to Voting Agreement (previously filed) 99.4 Joint Filing Agreement (previously filed) 99.5 Power of Attorney (previously filed) 99.6 Waiver 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. October 22, 2003 MARINER PARTNERS, INC. By: /s/ William J. Michaelcheck ------------------------------------- William J. Michaelcheck, Chairman and Chief Executive Officer /s/ William J. Michaelcheck ------------------------------------- William J. Michaelcheck /s/ William J. Michaelcheck ------------------------------------- Mark W. Blackman, by William J. Michaelcheck, Attorney-in-Fact BLACKMAN INVESTMENTS LLC By: /s/ William J. Michaelcheck -------------------------------------- William J. Michaelcheck, Attorney-in-Fact BLACKMAN CHARITABLE REMAINDER TRUST By: /s/ William J. Michaelcheck -------------------------------------- William J. Michaelcheck, Attorney-in-Fact LOUISE B. TOLLEFSON 2000 FLORIDA INTANGIBLE TAX TRUST DATED 12/12/00 By: /s/ William J. Michaelcheck -------------------------------------- William J. Michaelcheck, Attorney-in-Fact Page 23 LOUISE B. BLACKMAN TOLLEFSON FAMILY FOUNDATION DATED 3/24/98 By: /s/ William J. Michaelcheck -------------------------------------- William J. Michaelcheck, Attorney-in-Fact LOUISE B. TOLLEFSON CHARITABLE LEAD ANNUITY TRUST DATED 3/30/00 By: /s/ William J. Michaelcheck -------------------------------------- William J. Michaelcheck, Attorney-in-Fact BENNETT H. TOLLEFSON CHARITABLE LEAD UNITRUST DATED 3/30/00 By: /s/ William J. Michaelcheck -------------------------------------- William J. Michaelcheck, Attorney-in-Fact /s/ William J. Michaelcheck ----------------------------------------- A. George Kallop by William J. Michaelcheck, Attorney-in-Fact /s/ William J. Michaelcheck ----------------------------------------- William D. Shaw, Jr. by William J. Michaelcheck, Attorney-in-Fact EX-99.6 3 ex-996.txt WAIVER EXHIBIT 99.6 WAIVER Reference is made to the Voting Agreement (the "Agreement") dated as of February 20, 2002, as amended March 1, 2002 and further amended by Amendment No. 2 dated as of January 27, 2003 and Amendment No. 3 dated as of March 12, 2003 by and among (i) MARK W. BLACKMAN; BLACKMAN INVESTMENTS LLC; JOHN N. BLACKMAN, JR. (the "Blackman Trustee") as trustee of the Blackman Charitable Remainder Trust; and ROBERT G. SIMSES (the "Tollefson Trustee") as trustee of the Louise B. Tollefson 2000 Florida Intangible Tax Trust, as co-trustee of the Louise B. Tollefson Charitable Lead Annuity Trust, and as co-trustee of the Bennett H. Tollefson Charitable Lead Unitrust (the "Participating Shareholders"); (ii) KATHLEEN BLACKMAN as co-trustee with the Blackman Trustee of the Blackman Charitable Remainder Trust, (iii) WACHOVIA BANK, N.A., as successor in interest to First Union National Bank, as co-trustee with the Tollefson Trustee of the Louise B. Tollefson Charitable Lead Annuity Trust, and as co-trustee with the Tollefson Trustee of the Bennett H. Tollefson Charitable Lead Unitrust; and (iv) MARINER PARTNERS, INC. Capitalized terms not otherwise defined herein are used with the meanings ascribed to such terms in the Agreement. The Participating Shareholders hereby waive the following requirements of Article IX(A)(ii) of the Agreement with respect to Transferred Shares sold on or prior to December 31, 2003 pursuant to the Corporation's Registration Statement No. 333-106547 (the "Registration Statement"): (i) Transferred Shares sold pursuant to the Registration Statement will not be subject to the terms of the Agreement following the completion of such sale; (ii) the transferees of Transferred Shares sold pursuant to the Registration Statement do not need to agree to be bound by the Agreement; and (iii) the certificates for Transferred Shares sold pursuant to the Registration Statement do not have to contain a legend with respect to the Agreement following completion of such sale. [Balance of Page Intentionally Left Blank - Signature Page Follows] IN WITNESS WHEREOF, the parties hereto have hereunto set their respective hands as of the 16th day of October, 2003. OTHERS PARTICIPATING SHAREHOLDERS /s/ Mark W. Blackman MARINER PARTNERS, INC. ------------------------------------- Mark W. Blackman By: /s/ William J. Michaelcheck Address: --------------------------------- 80 Deepwood Road Name: William J. Michaelcheck Darien, CT 06820 Title: Chairman /s/ Kathleen C. Blackman - ------------------------------------ BLACKMAN INVESTMENTS LLC Kathleen Blackman Address: By: /s/ John N. Blackman, Jr. 41 Wee Burn Lane ---------------------------------- Darien, CT 06820 John N. Blackman, Jr. Member WACHOVIA BANK, N.A. By: /s/ Kathleen C. Blackman Successor in Interest To: ---------------------------------- FIRST UNION NATIONAL BANK Kathleen Blackman Member /s/ Eileen Minnick /s/ John N. Blackman, Jr. - ------------------------------------ ------------------------------------- Name: Eileen Minnick John N. Blackman, Jr. ------------------------------- (as trustee of the Blackman Charitable Title: Vice President & Remainder Trust) Senior Trust Advisor Address: ------------------------------- 41 Wee Burn Lane Darien, CT 06820 /s/ Robert G. Simses ------------------------------------- Robert G. Simses (as trustee of the Tollefson Trusts) Address: Warwick & Simses 140 Royal Palm Way, Suite 205 Palm Beach, FL 33480 -----END PRIVACY-ENHANCED MESSAGE-----