0000902664-14-001345.txt : 20140225 0000902664-14-001345.hdr.sgml : 20140225 20140224214721 ACCESSION NUMBER: 0000902664-14-001345 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20140225 DATE AS OF CHANGE: 20140224 GROUP MEMBERS: EMINENCE CAPITAL, LLC GROUP MEMBERS: EMINENCE GP, LLC GROUP MEMBERS: RICKY C. SANDLER SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: MENS WEARHOUSE INC CENTRAL INDEX KEY: 0000884217 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-APPAREL & ACCESSORY STORES [5600] IRS NUMBER: 741790172 STATE OF INCORPORATION: TX FISCAL YEAR END: 0130 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-43714 FILM NUMBER: 14638749 BUSINESS ADDRESS: STREET 1: 5803 GLENMONT DR CITY: HOUSTON STATE: TX ZIP: 77081 BUSINESS PHONE: 7135927200 MAIL ADDRESS: STREET 1: 5803 GLENMONT DR CITY: HOUSTON STATE: TX ZIP: 77081 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: EMINENCE CAPITAL LLC CENTRAL INDEX KEY: 0001107310 IRS NUMBER: 134036527 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 65 EAST 55TH STREET STREET 2: 25TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10022 BUSINESS PHONE: 212-418-2100 MAIL ADDRESS: STREET 1: 65 EAST 55TH STREET STREET 2: 25TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10022 SC 13D/A 1 p14-0792sc13da.htm THE MEN'S WEARHOUSE, INC.
SECURITIES AND EXCHANGE COMMISSION  
Washington, D.C. 20549  
   
SCHEDULE 13D/A
 
Under the Securities Exchange Act of 1934
(Amendment No. 3)*
 

The Men's Wearhouse, Inc.

(Name of Issuer)
 

Common Stock, par value $0.01 per share

(Title of Class of Securities)
 

587118100

(CUSIP Number)
 
 

Marc Weingarten

Schulte Roth & Zabel LLP

919 Third Avenue

New York, New York 10022

(212) 756-2000

(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
 

February 24, 2014

(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 that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), Rule 13d-1(f) or Rule 13d-1(g), check the following box. [ ]

 

(Page 1 of 9 Pages)

______________________________

* The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

 

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

 
CUSIP No. 587118100SCHEDULE 13D/APage 2 of 9 Pages

 

1

NAME OF REPORTING PERSON

Eminence Capital, LLC

2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) ¨

(b) x

3 SEC USE ONLY
4

SOURCE OF FUNDS

AF

5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ¨
6

CITIZENSHIP OR PLACE OF ORGANIZATION

New York

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH:
7

SOLE VOTING POWER

0

8

SHARED VOTING POWER

4,684,200 shares of Common Stock

9

SOLE DISPOSITIVE POWER

0

10

SHARED DISPOSITIVE POWER

4,684,200 shares of Common Stock

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON

4,684,200 shares of Common Stock

12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨
13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

9.9%

14

TYPE OF REPORTING PERSON

IA; OO

         

 

 

 
CUSIP No. 587118100SCHEDULE 13D/APage 3 of 9 Pages

 

1

NAME OF REPORTING PERSON

Eminence GP, LLC

2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) ¨

(b) x

3 SEC USE ONLY
4

SOURCE OF FUNDS

AF

5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ¨
6

CITIZENSHIP OR PLACE OF ORGANIZATION

New York

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH:
7

SOLE VOTING POWER

0

8

SHARED VOTING POWER

4,278,845 shares of Common Stock

9

SOLE DISPOSITIVE POWER

0

10

SHARED DISPOSITIVE POWER

4,278,845 shares of Common Stock

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON

4,278,845 shares of Common Stock

12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨
13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

9.0%

14

TYPE OF REPORTING PERSON

OO

         

 

 
CUSIP No. 587118100SCHEDULE 13D/APage 4 of 9 Pages

 

1

NAME OF REPORTING PERSON

Ricky C. Sandler

2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) ¨

(b) x

3 SEC USE ONLY
4

SOURCE OF FUNDS

AF

5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ¨
6

CITIZENSHIP OR PLACE OF ORGANIZATION

United States

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH:
7

SOLE VOTING POWER

0

8

SHARED VOTING POWER

4,684,200 shares of Common Stock

9

SOLE DISPOSITIVE POWER

0

10

SHARED DISPOSITIVE POWER

4,684,200 shares of Common Stock

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON

4,684,200 shares of Common Stock

12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨
13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

9.9%

14

TYPE OF REPORTING PERSON

IN

         

 

 
CUSIP No. 587118100SCHEDULE 13D/APage 5 of 9 Pages

This Amendment No. 3 ("Amendment No. 3") amends and supplements the statement on Schedule 13D filed with the Securities and Exchange Commission (the "SEC") on November 7, 2013 (the "Original Schedule 13D"), Amendment No. 1 to the Original Schedule 13D, filed with the SEC on November 15, 2013 ("Amendment No. 1"), and Amendment No. 2 to the Original Schedule 13D, filed with the SEC on January 14, 2014 ("Amendment No. 2" and together with the Original Schedule 13D, Amendment No. 1 and this Amendment No. 3, the "Schedule 13D") with respect to the shares of common stock, $0.01 par value (the "Common Stock") of The Men's Wearhouse, Inc., a Texas corporation (the "Issuer"). Capitalized terms used herein and not otherwise defined in this Amendment No. 3 have the meanings set forth in the Schedule 13D. This Amendment No. 3 amends Items 4, 5, 6 and 7 as set forth below.

Item 4. PURPOSE OF TRANSACTION
 

 

Item 4 is hereby amended and supplemented by the addition of the following:

 

 

On February 24, 2014, the Issuer amended its January 6, 2014 offer to acquire Jos. A. Bank to, among other things, increase the offer price from $57.50 to $63.50 per share (the "Amendment") and announced a willingness to further increase the price to $65.00 per share.

 

On February 24, 2014, Eminence Capital and certain of its affiliates (the "Eminence Parties") entered into an agreement with the Issuer and Java Corp., a Delaware corporation wholly owned by the Issuer (the "Agreement"). Pursuant to the Agreement, the Eminence Parties agreed to, among other things, (i) cease all efforts in furtherance of the preliminary solicitation statement filed by the Eminence Parties with the SEC on November 15, 2013 and any related solicitation of the Issuer's stockholders in connection therewith, (ii) withdraw its demand to inspect the stockholder list and books and records of the Issuer and (iii) a customary standstill provision, which is described in more detail below.

 

During the Standstill Period (as defined in the Agreement), the Eminence Parties agreed not to, among other things: (i) solicit or participate in the solicitation of proxies or written consents of the Issuer's stockholders; (ii) form or join in any group with respect to the Common Stock other than solely with the Eminence Parties or their respective affiliates; (iii) without the prior written approval of the board of directors of the Issuer (the "Board"), effect or seek, offer or propose (whether publicly or otherwise) to effect, or cause or participate in, or knowingly support, assist or facilitate any other person to effect or seek, offer or propose to effect, or cause or participate in, any (subject to certain exceptions) (a) tender offer or exchange offer, merger, acquisition or other business combination involving the Issuer or its subsidiaries; (b) form of business combination or acquisition or other transaction relating to a material amount of assets or securities of the Issuer or (c) form of restructuring, recapitalization or similar transaction with respect to the Company or any of its subsidiaries or (iv) as a result of acquiring beneficial ownership of any Voting Securities (as defined in the Agreement), become a beneficial owner of more than 10% of the Issuer's Common Stock. Further, pursuant to the Agreement, until the end of the Standstill Period, the Eminence Parties shall cause, in the case of all shares owned of record, and shall instruct the record owner, in the case that the Eminence Parties beneficially own, but does not own of record, such shares of Common Stock, to be present for quorum purposes and to be voted, at each meeting of stockholders (x) for all of the directors nominated by the Board for election and (y) in accordance with the recommendation of the Board on any proposals of any other stockholder of the Issuer that is also proposing one or more nominees for election to Board at such meeting.

 

The foregoing summary of the Agreement is qualified in its entirety by reference to the full text of the Agreement, a copy of which is attached as Exhibit 5 to this Amendment No. 3 and is incorporated by reference herein.

 

 

 
CUSIP No. 587118100SCHEDULE 13D/APage 6 of 9 Pages

 

   
Item 5. INTEREST IN SECURITIES OF THE ISSUER
 

 

Paragraphs (a) – (c) of Item 5 are hereby amended and restated in their entirety as follows:

 

 

(a) The aggregate number and percentage of shares of Common Stock to which this Schedule 13D relates is 4,684,200 shares of Common Stock, constituting approximately 9.9% of the Issuer’s currently outstanding Common Stock. The aggregate number and percentage of shares of Common Stock reported herein are based upon the 47,465,192 shares of Common Stock outstanding (which number excludes 23,052,987 shares classified as treasury stock) as of December 2, 2013, as reported in the Issuer's Quarterly Report on Form 10-Q filed with the SEC Commission on December 12, 2013.

 

  (b)

 

    (i) Eminence Capital:
  (a) As of the date hereof, Eminence Capital may be deemed the beneficial owner of 4,684,200 shares of Common Stock.
    Percentage: Approximately 9.9% as of the date hereof.
   
  (b) 1.  Sole power to vote or direct vote: 0
    2. Shared power to vote or direct vote: 4,684,200 shares of Common Stock
    3. Sole power to dispose or direct the disposition
   

4. Shared power to dispose or direct the disposition: 4,684,200 shares of Common Stock

 

    (ii) Eminence GP:
  (a) As of the date hereof, Eminence GP may be deemed the beneficial owner of 4,278,845 shares of Common Stock.
    Percentage: Approximately 9.0% as of the date hereof.
   
  (b) 1.  Sole power to vote or direct vote: 0
    2.  Shared power to vote or direct vote: 4,278,845 shares of Common Stock
    3.  Sole power to dispose or direct the disposition: 0
 
CUSIP No. 587118100SCHEDULE 13D/APage 7 of 9 Pages

 

   

4. Shared power to dispose or direct the disposition: 4,278,845 shares of Common Stock

 

 

    (iii) Mr. Sandler
  (a) As of the date hereof, Mr. Sandler may be deemed the beneficial owner of 4,684,200 shares of Common Stock.
    Percentage: Approximately 9.9% as of the date hereof.
     
  (b) 1.  Sole power to vote or direct vote: 0
    2.  Shared power to vote or direct vote: 4,684,200 shares of Common Stock
   

3. Sole power to dispose or direct the disposition: 0

4. Shared power to dispose or direct the disposition: 4,684,200 shares of Common Stock

     
  (c) Information concerning transactions in the Common Stock effected by the Reporting Persons since the filing of Amendment No. 2 is set forth in Schedule A hereto and is incorporated herein by reference.  

 

 

Item 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER.
 

 

Item 6 of the Schedule 13D is hereby amended and supplemented by the addition of the following:

 

  On February 24, 2014, the Issuer and the Reporting Persons entered into the Agreement, the terms of which are described in Item 4 of this Amendment No. 3.  A copy of such agreement is attached as Exhibit 5 to the Schedule 13D and is incorporated by reference herein.

 

 

Item 7.

 

MATERIAL TO BE FILED AS EXHIBITS

 

 

Item 7 is hereby amended and supplemented by the addition of the following:

 

Exhibit Description
5 Agreement, dated February 24, 2014.
 
CUSIP No. 587118100SCHEDULE 13D/APage 8 of 9 Pages

 

SIGNATURES

After reasonable inquiry and to the best of his or its knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.

DATE: February 24, 2014

 

  /s/ Ricky C. Sandler
  Ricky C. Sandler, individually, and as
  Chief Executive Officer of Eminence Capital, LLC,
  and as Managing Member of Eminence GP, LLC

 

 
CUSIP No. 587118100SCHEDULE 13D/APage 9 of 9 Pages

Schedule A

 

TRANSACTIONS IN THE ISSUER'S SHARES OF COMMON STOCK BY THE REPORTING PERSONS SINCE AMENDMENT NO. 2

 

The following table sets forth all transactions with respect to the shares of Common Stock effected since the filing of Amendment No. 2 by any of the Reporting Persons. The following transactions were not effected in the open market, but were rather effected by the Reporting Persons internally for the purpose of rebalancing their holdings among the Eminence Funds and the SMA.

 

Trade Date Amount Purchased (Sold) Price Per Share ($)
2/3/2014 (378) 48.04
2/3/2014 378 48.04

EX-99 2 exhibit99.htm EXHIBIT 5

Exhibit 5

 

THIS AGREEMENT, dated as of February 24, 2014 (this “Agreement”), is made by and between Eminence Capital, LLC on behalf of itself and certain of its affiliates listed on Exhibit A hereto (collectively, “Eminence”), on the one hand, and The Men’s Wearhouse, Inc., a Texas corporation (the “Company”), and Java Corp., a Delaware corporation and a wholly owned subsidiary of the Company (“Purchaser,” and together with the Company, “MW”), on the other hand.

W I T N E S S E T H:

WHEREAS, on January 6, 2014, MW commenced a tender offer (the “Tender Offer”) to acquire all outstanding shares of common stock, par value $0.01 per share (together with the associated preferred share purchase rights, the “JOSB Shares”), of Jos. A. Bank Clothiers, Inc., a Delaware corporation (“JOSB”), for $57.50 per share in cash;

WHEREAS, Eminence beneficially owns approximately 9.9% of the outstanding shares of common stock of the Company (the “MW Shares”) and approximately 4.9% of the outstanding JOSB Shares;

WHEREAS, MW has amended the Tender Offer to, among other things, increase the offer price per share to $63.50 from $57.50 (the “Amendment”) and announced a willingness to further increase the price to $65.00; and

WHEREAS, in order to induce MW to make the Amendment, Eminence has agreed to enter into this Agreement.

NOW, THEREFORE, in order to carry out their intent as expressed above and in consideration of the mutual agreements hereinafter contained, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby covenant and agree as follows:

1.                  Proxy Solicitation.

(a)                Eminence shall, and shall cause each of its Affiliates to, immediately cease all efforts, direct or indirect, in furtherance of the preliminary solicitation statement filed by Eminence Capital, LLC, Eminence GP, LLC and Ricky C. Sandler with the Securities and Exchange Commission (the “SEC”) on November 15, 2013 (the “Solicitation Statement”) and any related solicitation of Company shareholders in connection with the Solicitation Statement.

(b)               Eminence hereby irrevocably withdraws its demands for a Company stockholder list, and other Company materials and books and records pursuant to Section 21.218 of the Texas Business Organizations Code or otherwise, and shall promptly destroy (and, to the extent such materials may be held by parties other than Eminence, shall cause such parties to promptly destroy) all materials and summaries or duplicates thereof that have been delivered to Eminence, any of its Affiliates or their respective representatives on or prior to the date hereof; provided, however, that in the case of any materials contained in any electronic media such destruction shall be by use of reasonable efforts to permanently delete or remove such materials and Eminence and other parties who have properly received such information may retain such documents as necessary to comply with applicable regulations and internal document retention policies as in effect on the date hereof.

 

-2-
   

 

2.                  Standstill. For purposes of this Agreement, the “Standstill Period” shall mean the period from the date of this Agreement until the conclusion of the second annual meeting of MW’s stockholders following the date hereof. During the Standstill Period, so long as MW has not materially breached this Agreement and failed to cure such breach within five Business Days of written notice from Eminence specifying any such breach, Eminence shall not, and shall cause each of its Affiliates not to, take any of the following actions, directly or indirectly:

(a)                 (i) solicit proxies or written consents of stockholders, or any other person with the right to vote or power to give or withhold consent in respect of any Voting Securities, or conduct, knowingly encourage, participate or engage in any other type of referendum (binding or non-binding) (other than by voting its Voting Securities in a manner that does not violate this Agreement) with respect to, or from the holders of Voting Securities or any other person with the right to vote or power to give or withhold consent in respect of Voting Securities, (ii) make, or in any way participate or engage in (other than by voting its Voting Securities in a manner that does not violate this Agreement), any “solicitation” of any proxy, consent or other authority to vote any Voting Securities or make any stockholder proposal (whether pursuant to Rule 14a-8 promulgated under the Exchange Act or otherwise), or issue any communication with respect to the Company excluded from the definition of “solicitation” pursuant to Rule 14a-1(l)(2)(iv), with respect to any matter, or (iii) become a participant in any contested solicitation with respect to the Company, including without limitation relating to the removal or the election of Company directors;

(b)               form or join in a partnership, limited partnership, syndicate or other group, including without limitation a group as defined under Section 13(d) of the Exchange Act, with respect to the Voting Securities, or deposit any Voting Securities in a voting trust or subject any Voting Securities to any voting agreement, other than solely with Eminence or its Affiliates with respect to the Voting Securities now or hereafter owned by them or pursuant to this Agreement;

(c)                without the prior approval of the MW Board contained in a written resolution of the MW Board, (x) either directly or indirectly for itself or its Affiliates, or in conjunction with any other person or entity in which it is or proposes to be either a principal, partner or financing source or is acting or proposes to act as broker or agent for compensation, effect or seek, offer or propose (whether publicly or otherwise) to effect, or cause or participate in, or (y) except as set forth in the next sentence, in any way knowingly support, assist or facilitate any other person to effect or seek, offer or propose to effect, or cause or participate in, any (i) tender offer or exchange offer, merger, acquisition or other business combination involving the Company or any of its subsidiaries; (ii) form of business combination or acquisition or other transaction relating to a material amount of assets or securities of the Company or any of its subsidiaries or (iii) form of restructuring, recapitalization or similar transaction with respect to the Company or any of its subsidiaries. Notwithstanding the foregoing, nothing in this Section 2(c) shall prohibit Eminence or any of its Affiliates from presenting any potential transaction to the MW Board on a private basis in circumstances that would not reasonably be expected to require public disclosure by the Company or Eminence or its Affiliates at or around the time the proposal is made; or 

-3-
   

 

(d)               as a result of acquiring beneficial ownership of any Voting Securities of the Company, become a beneficial owner of any Voting Securities of the Company which, together with all other Voting Securities of Eminence and its Affiliates are beneficial owners, would be deemed under Regulation 13D-G promulgated under the Exchange Act to constitute beneficial ownership of MW Shares in excess of 10% of the issued and outstanding MW Shares (provided that, for the avoidance of doubt, Eminence shall not be deemed to be in breach of this paragraph (d) if it becomes the beneficial owner of 10% or more of the issued and outstanding MW Shares as a result of a reduction in the number of issued outstanding shares due to a stock buyback or other similar transaction effected by the Company).

3.                  Voting Agreement. Until the end of the Standstill Period, Eminence shall cause, in the case of all shares owned of record, and shall instruct the record owner, in the case of all MW Shares that it or any of its Affiliates beneficially owns of but does not own of record, directly or indirectly, as of the record date for each meeting of stockholders (each a “Shareholder Meeting”), to be present for quorum purposes and to be voted, at each Shareholder Meeting or at any adjournments or postponements thereof, (a) for all of the directors nominated by the MW Board for election at such Shareholder Meeting and (b) in accordance with the recommendation of the MW Board on any proposals of any other stockholder of the Company that is also proposing one or more nominees for election to the Board in opposition to one or more nominees of the MW Board at such Shareholder Meeting.

4.                  Representations and Warranties. Each party hereto, represents and warrants as to itself as follows:

(a)                Such party has full power, authority and legal right to execute, deliver, perform and observe the provisions of this Agreement, including, without limitation, the payment of all moneys hereunder.

(b)               The execution, delivery and performance by such party of this Agreement has been duly authorized by all necessary action under its constituent documents.

(c)                This Agreement constitutes the legal, valid and binding obligation of such party, enforceable in accordance with its terms, subject as to enforceability to bankruptcy, insolvency and other similar laws affecting creditors’ rights generally and general equity principles.

(d)               No authorization, approval, consent or permission (governmental or otherwise) of any court, agency, commission or other authority or entity is required for the due execution, delivery, performance or observance by such party of this Agreement or for the payment of any sums hereunder.

(e)                Neither the execution and delivery of this Agreement by such party, nor the consummation of the transactions herein contemplated, nor compliance with the terms and provisions hereof, conflicts or will conflict with or result in a breach of any of the terms, conditions or provisions of the constituent documents of such party, or of any law, order, writ, injunction or decree of any court or governmental authority, or of any agreement or instrument to which such party is a party or by which it is bound, or constitutes or will constitute a default thereunder. 

-4-
   

5.                  Notices. All notices and other communications under this Agreement shall be in writing and shall be given (and shall be deemed to have been duly given upon receipt) by delivery in person or by facsimile, or by Federal Express or registered or certified mail, postage pre-paid, return receipt requested, as follows:

If to the Company or Purchaser:

The Men’s Wearhouse, Inc.

6100 Stevenson Blvd.

Fremont, CA 94538

Attention: Jon Kimmins
Facsimile: (510) 657-0872

 

The Men’s Wearhouse, Inc.

6380 Rogerdale Road

Houston, Texas 77072

Attention: Laura Ann Smith
Facsimile: (281) 776-7150

with a copy (which shall not constitute notice) to:

Willkie Farr & Gallagher LLP

787 Seventh Avenue

   New York, New York 10016

Attention: Steven A. Seidman

Facsimile: (212) 728-9763

 

If to Eminence Capital:

Eminence Capital, LLC

65 East 55th Street, 25th Floor

New York, New York 10022

Attention: Ricky C. Sandler

Facsimile: (212) 418-2150

with a copy (which shall not constitute notice) to:

Gibson, Dunn & Crutcher LLP

200 Park Avenue

New York, New York 10166

Attention: Eduardo Gallardo

Facsimile: (212) 351-5245

 

6.                  Certain Definitions. For purposes of this Agreement, the following terms have the following meanings:

-5-
   

(a)                Affiliate” shall have the meaning set forth in Rule 12b-2 promulgated by the SEC under the Securities Exchange Act of 1934, as amended (the “Exchange Act”).

(b)               beneficial owner” as used herein shall have the meaning given to such term in Rule 13d-3 promulgated under the Exchange Act.

(c)                Business Day” means a day, other than Saturday, Sunday or other day on which commercial banks in New York, New York are authorized or required by law to close.

(d)               person” or “persons” shall mean any individual, corporation (including not-for-profit), general or limited partnership, limited liability or unlimited liability company, joint venture, estate, trust, association, organization or other entity of any kind or nature.

(e)                Voting Securities” as used herein shall mean the MW Shares and any other securities of the Company entitled to vote in the election of directors, or securities convertible into, or exercisable or exchangeable for, MW Shares or other securities, whether or not subject to the passage of time or other contingencies.  

7.                  Governing Law; Consent to Jurisdiction. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS OF THE STATE OF NEW YORK. In addition, each party (i) irrevocably and unconditionally consents and submits to the personal jurisdiction of the state and federal courts of the United States of America located in the State of New York solely for the purposes of any suit, action or other proceeding between any of the parties hereto arising out of this Agreement, (ii) agrees that it will not attempt to deny or defeat such personal jurisdiction by motion or other request for leave from such court, (iii) waives any claim of improper venue or any claim that the courts of the State of New York are an inconvenient forum for any action, suit or proceeding between any of the parties hereto arising out of this Agreement or any transaction contemplated hereby, (iv) agrees that it will not bring any action relating to this Agreement in any court other than the courts of the State of New York and (v) to the fullest extent permitted by law, consents to service being made through the notice procedures set forth in Section 5.

8.                  WAIVER OF JURY TRIAL. EACH PARTY HERETO ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE EACH SUCH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT SUCH PARTY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT, OR THE TRANSACTIONS CONTEMPLATED HEREBY.

9.                  Severability; Liability. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. Notwithstanding anything contained in this Agreement to the contrary, the obligations, representations, warranties, covenants and agreements set forth in this Agreement of Eminence Capital, LLC and its Affiliates listed on Exhibit A are several (and not joint and several) obligations, and none of such parties shall have any liability for any breach of this Agreement by any such other party hereto.

-6-
   

10.              No Waiver; Cumulative Remedies. No party hereto shall by any act (except by a written instrument pursuant to Section 11) of delay, indulgence, omission or otherwise be deemed to have waived any right or remedy hereunder or to have acquiesced in any breach of any of the terms and conditions hereof. No failure to exercise, nor any delay in exercising, on the part of any party hereto, any right, power or privilege hereunder shall operate as a waiver thereof. No single or partial exercise of any right, power or privilege hereunder shall preclude any other or further exercise thereof or the exercise of any other right, power or privilege. A waiver of any right or remedy hereunder on any one occasion shall not be construed as a bar to any right or remedy that would otherwise be available on any future occasion. The rights and remedies herein provided are cumulative, may be exercised singly or concurrently and are not exclusive of any rights or remedies provided by law.

11.              Amendments and Waivers. None of the terms or provisions of this Agreement may be waived, amended or supplemented or otherwise modified except by a written instrument executed by each party hereto.

12.              Assignment; Successors and Assigns; No Third-Party Rights. No party may assign its rights nor delegate its obligations under this Agreement, in whole or in part, without the prior written consent of the other parties hereto. Any purported assignment or delegation made without the prior written consent of the other parties hereto shall be null and void. This Agreement shall be binding upon the successors and permitted assigns of the parties hereto and shall inure to the benefit of each party and such successors and permitted assigns. Nothing expressed or referred to in this Agreement will be construed to give any person other than the parties to this Agreement any legal or equitable right, remedy or claim under or with respect to this Agreement or any provision of this Agreement. This Agreement and all of its provisions and conditions are for the sole and exclusive benefit of the parties to this Agreement and their successors and permitted assigns and no other person.

13.              Counterparts. This Agreement may be executed in any number of separate counterparts, including by facsimile, each of which shall be deemed an original, but all of which shall constitute one and the same instrument.

14.              No Transfer Restrictions. Subject to the U.S. federal securities laws, MW agrees and acknowledged that nothing in this Agreement shall restrict or limit the ability of Eminence and its Affiliates to sell, transfer or otherwise dispose of any securities of the Company or JOSB at any time.

15.              Public Announcements. The parties hereto agree that each party shall make no public disclosure of or reference to this Agreement or the other party without the express written consent (not to be unreasonably withheld, conditioned or delayed) of such other party (which consent may be delivered via e-mail).

 

[Signature page follows]

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IN WITNESS WHEREOF, the undersigned have duly executed and delivered this Agreement on the date first above written.

 

THE MEN’S WEARHOUSE, INC.

By: _____________________________
Name:
Title:

JAVA CORP.

By: ______________________________
Name:
Title:

 

EMINENCE CAPITAL, LLC, on behalf of itself and the entities listed on Exhibit A hereto

 

By: ______________________________
Name:
Title:

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EXHIBIT A

Eminence Partners, L.P.

Eminence Partners II, L.P.

Eminence Partners Leveraged, L.P.

Eminence Eaglewood Master, L.P.

Eminence Partners Long, L.P.

Eminence Fund Master, Ltd.

Eminence Fund Leveraged Master, Ltd.

Eminence Fund Long, Ltd.