Form DFAN14A - JVP, MP, CP memo follow-up
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
DC 20549
SCHEDULE
14A
(Rule
14a-101)
SCHEDULE
14A INFORMATION
Proxy
Statement Pursuant to Section 14(a) of
the
Securities Exchange Act of 1934
(Amendment
No. ___ )
Filed
by
the Registrant x
Filed
by
a Party other than the Registrant r
Check
the
appropriate box:
r
Preliminary
Proxy
Statement
r
Confidential, for Use of the Commission Only (as permitted
by
Rule 14a-6(e)(2))
r
Definitive
Proxy
Statement
r
Definitive
Additional Materials
x Soliciting
material Pursuant to §240.14a-12
OSI
Restaurant Partners, Inc.
(Name
of
Registrant as Specified In Its Charter)
not
applicable
(Name
of
Person(s) Filing Proxy Statement, if other than the Registrant)
Payment
of Filing Fee (Check
the appropriate box):
x
No
fee
required.
r
Fee
computed on
table below per Exchange Act Rules 14a-6(i)(1) and 0-11.
|
1)
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Title
of each class of securities to which transaction applies:
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2)
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Aggregate
number of securities to which transaction
applies:
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3)
|
Per
unit price or other underlying value of transaction computed
pursuant to
Exchange Act Rule 0-11 (set forth the amount on which
the filing fee is
calculated and state how it was determined):
|
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4)
|
Proposed
maximum aggregate value of transaction:
|
r
Fee
paid
previously with preliminary materials.
r
Check
box if any
part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and
identify the filing for which the offsetting fee was paid previously.
Identify the previous filing by registration statement number,
or the Form or
Schedule and the date of its filing.
|
1)
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Amount
Previously Paid:
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2)
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Form,
Schedule or Registration Statement No.:
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THE
FOLLOWING COMMUNICATION HAS BEEN DISTRIBUTED TO CERTAIN EMPLOYEES AS A
FOLLOW-UP TO AN EARLIER MEMORANDUM ADDRESSING THE TREATMENT OF BUY-OUT OPTIONS,
EMPLOYMENT OPTIONS AND RESTRICTED STOCK IN THE PROPOSED MERGER:
We
are
receiving questions asking what happens with buy-out options that have an
exercise price above $40. The principles in the Memo apply to these buy-out
options as well. What follows is a summary and is qualified by and subject
to
all terms, provisions and conditions of the Merger Agreement and the terms
of
our stock option plans.
If
the
exercise price of your buy-out options is $40 or above, you will receive
no cash
at closing. Assuming you did not make any money on any previous exercises
of any
part of that grant of buy-out options, you will receive a Supplemental PEP
Contribution equal to 100% of what your PEP contribution would have been
at time
of your buy-out (basically last 24 months distributions at time of buy-out
divided by 2 with the result multiplied by 3). If you did make money on previous
exercises of part of that grant of buy-out options, the amount you made will
be
deducted from the Supplemental PEP Contribution.
In
the
first example given in the Buy-Out Stock Options section of the Memo, if
the
exercise price of the buy-out options was $40 or above (rather than the $35
used
in the example) the person would receive zero cash at closing and (assuming
they
did not make any money on any prior exercise of part of those buy-out options)
would receive a Supplemental PEP Contribution equal to what the full PEP
contribution would have been when they completed their contract ($150,000
based
on the assumptions used in the second example in the Buy-Out Stock Options
section of the Memo).
The
Supplemental PEP Contribution is subject to all terms of the PEP including
the
distribution payment schedule.
This
e-mail is a summary and is qualified by and subject to all terms, provisions
and
conditions of the Merger Agreement.
Forward-Looking
Statements
This
document includes statements that do not directly or exclusively relate to
historical facts. Such statements are "forward-looking statements" within
the
meaning of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. These forward-looking statements include
statements regarding benefits of the proposed transaction, future performance,
financing for the transaction and the completion of the transaction. These
statements are based on the current expectations of management of OSI Restaurant
Partners, Inc. There are a number of risks and uncertainties that could cause
actual results to differ materially from the forward-looking statements included
in this document. For example, among other things, (1) OSI Restaurant Partners
may be unable to obtain shareholder approval required for the transaction;
(2)
OSI Restaurant Partners may be unable to obtain regulatory approvals required
for the transaction, or required regulatory approvals may delay the transaction
or result in the imposition of conditions that could have a material adverse
effect on OSI Restaurant Partners or cause the parties to abandon the
transaction; (3) conditions to the closing of the transaction may not be
satisfied; (4) the transaction may involve unexpected costs, unexpected
liabilities or unexpected delays; (5) the businesses of OSI Restaurant Partners
may suffer as a result of uncertainty surrounding the transaction; (6) the
financing required for Bain Capital and Catterton Partners to complete the
transaction may be delayed or may not be available and (7) OSI Restaurant
Partners may be adversely affected by other economic, business, and/or
competitive factors. Additional factors that may affect the future results
of
OSI Restaurant Partners are set forth in its filings with the Securities
and
Exchange Commission ("SEC"), which are available at http://www.sec.gov. Unless
required by law, OSI Restaurant Partners undertakes no obligation to publicly
update or revise any forward-looking statements, whether as a result of new
information, future events or otherwise.
Additional
Information and Where to Find It
In
connection with the proposed transaction, a proxy statement of OSI Restaurant
Partners and other materials will be filed with the SEC. WE URGE INVESTORS
TO
READ THE PROXY STATEMENT AND THESE OTHER MATERIALS CAREFULLY WHEN THEY BECOME
AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT OSI RESTAURANT
PARTNERS AND THE PROPOSED TRANSACTION. Investors will be able to obtain free
copies of the proxy statement (when available) as well as other filed documents
containing information about OSI Restaurant Partners at http://www.sec.gov,
the
SEC’s free internet site. Free copies of OSI Restaurant Partners’ SEC filings
are also available on OSI Restaurant Partners’ internet site at
http://www.osirestaurantpartners.com.
Participants
in the Solicitation
OSI
Restaurant Partners and its executive officers and directors may be deemed,
under SEC rules, to be participants in the solicitation of proxies from OSI
Restaurant Partners’ stockholders with respect to the proposed transaction.
Information regarding the officers and directors of OSI Restaurant Partners
is
included in its definitive proxy statement for its 2006 annual meeting filed
with the SEC on March 30, 2006. More detailed information regarding the identity
of potential participants, and their direct or indirect interests, by
securities, holdings or otherwise, will be set forth in the proxy statement
and
other materials to be filed with SEC in connection with the proposed
transaction.