EX-2 3 exhibit_2.htm EXHIBIT 2 exhibit_2.htm


 
Exhibit 2
 
 

 
 
FIRST AMENDMENT TO THE SECURITIES PURCHASE AGREEMENT
 
 
This FIRST AMENDMENT TO THE SECURITIES PURCHASE AGREEMENT dated June 3, 2009 (this “Agreement”) is made by and among each of the sellers listed on the signature pages hereto (each, a “Seller” and collectively, the “Sellers”), and Starr International Company, Inc., a Panamanian corporation (the “Purchaser”).  Capitalized terms used in this Agreement but not defined herein shall have the meanings ascribed to them in the Existing Securities Purchase Agreement (as defined below).
 
 
WHEREAS, the Sellers and the Purchaser entered into that certain Securities Purchase Agreement, dated as of May 1, 2009 (the “Existing Securities Purchase Agreement”); and
 
 
WHEREAS, the Sellers and the Purchaser intend and desire that certain provisions of the Existing Securities Purchase Agreement be amended as set forth herein.
 
 
NOW THEREFORE, in consideration of the mutual agreements, representations, warranties and covenants herein contained, the partiers hereto agree as follows:
 
 
ARTICLE I
AMENDMENTS
 
 
The following provisions set forth in the Existing Securities Purchase Agreement are hereby amended as follows:
 
 
Section 1.01. Amendment to Definitions.  The following defined term set forth in the Existing Securities Purchase Agreement shall be amended and restated in its entirety as follows:
 
 
Share Price” means a price per Share equal to the average Market Value of such Share during the period from and including May 5, 2009 until and including June 4, 2009.”
 
 
Section 1.02. Amendment to Exhibit A.  Exhibit A to the Existing Securities Purchase Agreement is hereby amended and restated in its entirety as set forth in Annex A hereto.
 
 
 

ARTICLE II
MISCELLANEOUS
 
 
Section 2.01. Severability; Governing Law; Dispute Resolution.  The parties hereto agree and confirm that Section 6 (Miscellaneous Provisions) of the Existing Securities Purchaser Agreement shall apply mutatis mutandis to this Agreement and are incorporated into this Agreement as if set out specifically herein.
 
 

 
 
[Signature Pages Follow]
 

 
 

 

 

 
 
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.
 


 
SELLER:
   
 
C.V. STARR & CO., INC.
   
 
By:
/s/Bertil P. Lundqvist   
   
Name: Bertil P. Lundqvist 
   
Title: Director, Executive Vice President & General Counsel
     
 
C.V. STARR & CO., INC. TRUST
     
 
By:
 /s/Bertil P. Lundqvist   
   
Name: Bertil P. Lundqvist   
   
Title: Attorney-In-Fact
     
 
THE MAURICE R. AND CORINNE P. GREENBERG FOUNDATION
   
 
By:
/s/Maurice R. Greenberg                                                      
   
Name: Maurice R. Greenberg
   
Title:
     
 
MAURICE R. AND CORINNE P. GREENBERG JOINT TENANCY COMPANY, LLC
   
 
By:
/s/Maurice R. Greenberg                                                      
   
Name: Maurice R. Greenberg
   
Title: Member
     
 
MAURICE R. GREENBERG
   
 
By:
/s/Maurice R. Greenberg                                                      
   
Name: Maurice R. Greenberg
 

 

 
UNIVERSAL FOUNDATION, INC.
   
 
By:
/s/Stuart Osborne   
   
Name: Stuart Osborne 
   
Title: Director
     
 
PURCHASER:
   
 
STARR INTERNATIONAL COMPANY, INC.
   
 
By:
/s/Edward E. Matthews   
   
Name: Edward E. Matthews 
   
Title: Director


 
 

 

 
Annex A to the First Amendment to the Securities Agreement
 

EXHIBIT A

SHARES

Seller / Address
 
Shares
C.V. Starr & Co., Inc.
399 Park Avenue, 17th Floor
New York, NY 10022
 
10,716,957
C.V. Starr & Co., Inc. Trust
399 Park Avenue, 17th Floor
New York, NY 10022
 
8,360,605
The Maurice R. and Corinne P. Greenberg Foundation
399 Park Avenue, 17th Floor
New York, NY 10022
 
989,308
Maurice R. and Corinne P. Greenberg Joint Tenancy Company, LLC
399 Park Avenue, 17th Floor
New York, NY 10022
 
25,269,689
Maurice R. Greenberg
399 Park Avenue, 17th Floor
New York, NY 10022
 
13,025,939
Universal Foundation, Inc.
399 Park Avenue, 17th Floor
New York, NY 10022
 
2,053,377