-----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, VD10V5iL8IUIol7PlmQxkBL9c+XuamrsBLBshF8WqoH6ISDeT03Oqj2xxmTKj7Ij Bo1K0RCNW3RBsrvtaLLkug== 0000930413-03-002211.txt : 20030715 0000930413-03-002211.hdr.sgml : 20030715 20030715170928 ACCESSION NUMBER: 0000930413-03-002211 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 5 FILED AS OF DATE: 20030715 GROUP MEMBERS: ANTHONY KRONMAN GROUP MEMBERS: GERALD TSAI, JR. GROUP MEMBERS: GLORIA SCHAFFER GROUP MEMBERS: HARRY FIELDS GROUP MEMBERS: INTERNATIONAL SPECIALITY HOLDINGS INC. GROUP MEMBERS: INTERNATIONAL SPECIALITY PRODUCTS INC. GROUP MEMBERS: RAYMOND S. TROUBH GROUP MEMBERS: SAMUEL J. HEYMAN GROUP MEMBERS: SUNIL KUMAR GROUP MEMBERS: VINCENT TESE SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: HERCULES INC CENTRAL INDEX KEY: 0000046989 STANDARD INDUSTRIAL CLASSIFICATION: MISCELLANEOUS CHEMICAL PRODUCTS [2890] IRS NUMBER: 510023450 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-15992 FILM NUMBER: 03787776 BUSINESS ADDRESS: STREET 1: 1313 N MARKET ST STREET 2: HERCULES PLZ CITY: WILMINGTON STATE: DE ZIP: 19894 BUSINESS PHONE: 3025945000 MAIL ADDRESS: STREET 1: HERCULES PLAZA STREET 2: RM 8151 NW CITY: WILMINGTON STATE: DE ZIP: 19894-0001 FORMER COMPANY: FORMER CONFORMED NAME: HERCULES POWDER CO DATE OF NAME CHANGE: 19680321 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: ISP INVESTCO LLC CENTRAL INDEX KEY: 0001157306 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 300 DELAWARE AVE STREET 2: STE 303 CITY: WILMINGTON STATE: DE ZIP: 19801 BUSINESS PHONE: 3024275715 MAIL ADDRESS: STREET 1: 300 DELAWARE AVE STREET 2: STE 303 CITY: WILMINGTON STATE: DE ZIP: 19801 SC 13D/A 1 c28774_sc13d.txt ================================================================================ SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. 15) ------------------------------ HERCULES INCORPORATED (Name of Issuer) COMMON STOCK, $25/48 STATED VALUE PER SHARE 427056106 (Title of class of securities) (CUSIP number) RICHARD A. WEINBERG, ESQ. 1361 ALPS ROAD WAYNE, NEW JERSEY 07470 (973) 628-4000 (Name, address and telephone number of person authorized to receive notices and communications) JULY 14, 2003 (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 ss.ss. 240.13d-1(e), 240.13d-1(f) or 240.13d-(g), check the following box. |_| Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See ss. 240.13d-7 for other parties to whom copies are to be sent. * 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 purposes of Section 18 of the Securities Exchange Act of 1934 (the "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.) (Continued on following pages) (Page 1 of 17 Pages) ================================================================================ - ------------------------------ ---------------------------------- CUSIP No. 427056106 13D Page 2 of 17 Pages - ------------------------------ ---------------------------------- - ---------------------- ------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON ISP INVESTCO LLC S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON - ---------------------- ------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) |_| (b) |X| - ---------------------- ------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ---------------------- ------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS: OO - ---------------------- ------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): |_| - ---------------------- ------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION: Delaware - ---------------------- ------------------------------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER: 9,893,700 SHARES ------------------- ------------------------------------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER: 0 OWNED BY ------------------- ------------------------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER: 9,893,700 REPORTING ------------------- ------------------------------------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER: 0 - ---------------------- ------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 9,893,700 - ---------------------- ------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: |_| - ---------------------- ------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 8.93% - ---------------------- ------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON: OO - ---------------------- -------------------------------------------------------------------------------------------------------
- ------------------------------ ---------------------------------- CUSIP No. 427056106 13D Page 3 of 17 Pages - ------------------------------ ---------------------------------- - ---------------------- ------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON INTERNATIONAL SPECIALTY HOLDINGS INC. S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON - ---------------------- ------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) |_| (b) |X| - ---------------------- ------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ---------------------- ------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS: OO - ---------------------- ------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): |_| - ---------------------- ------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION: Delaware - ---------------------- ------------------------------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER: 0 SHARES ------------------- ------------------------------------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER: 9,893,700 OWNED BY (See Item 5) ------------------- ------------------------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER: 0 REPORTING ------------------- ------------------------------------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER: 9,893,700 (See Item 5) - ---------------------- ------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 9,893,700 (See Item 5) - ---------------------- ------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: |_| - ---------------------- ------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 8.93% - ---------------------- ------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON: CO - ---------------------- -------------------------------------------------------------------------------------------------------
- ------------------------------ ---------------------------------- CUSIP No. 427056106 13D Page 4 of 17 Pages - ------------------------------ ---------------------------------- - ---------------------- ------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON INTERNATIONAL SPECIALTY PRODUCTS INC. S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON - ---------------------- ------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) |X| (b) |_| - ---------------------- ------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ---------------------- ------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS: OO - ---------------------- ------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): |_| - ---------------------- ------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION: Delaware - ---------------------- ------------------------------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER: 0 SHARES ------------------- ------------------------------------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER: 9,893,700 OWNED BY (See Item 5) ------------------- ------------------------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER: 0 REPORTING ------------------- ------------------------------------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER: 9,893,700 (See Item 5) - ---------------------- ------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 9,893,700 (See Item 5) - ---------------------- ------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: |_| - ---------------------- ------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 8.93% - ---------------------- ------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON: CO - ---------------------- -------------------------------------------------------------------------------------------------------
- ------------------------------ ---------------------------------- CUSIP No. 427056106 13D Page 5 of 17 Pages - ------------------------------ ---------------------------------- - ---------------------- ------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON SAMUEL J. HEYMAN S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON - ---------------------- ------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) |X| (b) |_| - ---------------------- ------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ---------------------- ------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS: OO - ---------------------- ------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): |_| - ---------------------- ------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION: USA - ---------------------- ------------------------------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER: 11,948* SHARES ------------------- ------------------------------------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER: 9,893,700 OWNED BY (See Item 5) ------------------- ------------------------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER: 11,948* REPORTING ------------------- ------------------------------------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER: 9,893,700 (See Item 5) - ---------------------- ------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 9,905,648* (See Item 5) - ---------------------- ------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: |_| - ---------------------- ------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 8.95% - ---------------------- ------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON: IN - ---------------------- -------------------------------------------------------------------------------------------------------
* Includes 3,000 options granted pursuant to the Non-employee Directors Stock Accumulation Plan which are exercisable between 11/5/02 and 11/5/11 at an exercise price of $8.52. - ------------------------------ ---------------------------------- CUSIP No. 427056106 13D Page 6 of 17 Pages - ------------------------------ ---------------------------------- - ---------------------- ------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON SUNIL KUMAR S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON - ---------------------- ------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) |X| (b) |_| - ---------------------- ------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ---------------------- ------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS: OO - ---------------------- ------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): |_| - ---------------------- ------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION: USA - ---------------------- ------------------------------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER: 25,987* SHARES ------------------- ------------------------------------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER: 0 OWNED BY ------------------- ------------------------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER: 25,987* REPORTING ------------------- ------------------------------------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER: 0 - ---------------------- ------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 25,987* - ---------------------- ------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: |_| - ---------------------- ------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 0.02% - ---------------------- ------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON: IN - ---------------------- -------------------------------------------------------------------------------------------------------
* Includes 3,000 options granted pursuant to the Non-employee Directors Stock Accumulation Plan which are exercisable between 11/5/02 and 11/5/11 at an exercise price of $8.52. - ------------------------------ ---------------------------------- CUSIP No. 427056106 13D Page 7 of 17 Pages - ------------------------------ ---------------------------------- - ---------------------- ------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON GLORIA SCHAFFER S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON - ---------------------- ------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) |X| (b) |_| - ---------------------- ------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ---------------------- ------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS: OO - ---------------------- ------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): |_| - ---------------------- ------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION: USA - ---------------------- ------------------------------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER: 7,828* SHARES ------------------- ------------------------------------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER: 0 OWNED BY ------------------- ------------------------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER: 7,828* REPORTING ------------------- ------------------------------------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER: 0 - ---------------------- ------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 7,828* - ---------------------- ------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: |_| - ---------------------- ------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 0.01% - ---------------------- ------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON: IN - ---------------------- -------------------------------------------------------------------------------------------------------
* Includes 3,000 options granted pursuant to the Non-employee Directors Stock Accumulation Plan which are exercisable between 11/5/02 and 11/5/11 at an exercise price of $8.52. - ------------------------------ ---------------------------------- CUSIP No. 427056106 13D Page 8 of 17 Pages - ------------------------------ ---------------------------------- - ---------------------- ------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON RAYMOND S. TROUBH S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON - ---------------------- ------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) |X| (b) |_| - ---------------------- ------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ---------------------- ------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS: OO - ---------------------- ------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): |_| - ---------------------- ------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION: USA - ---------------------- ------------------------------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER: 19,948* SHARES ------------------- ------------------------------------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER: 0 OWNED BY ------------------- ------------------------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER: 19,948* REPORTING ------------------- ------------------------------------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER: 0 - ---------------------- ------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 19,948* - ---------------------- ------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: |_| - ---------------------- ------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 0.02% - ---------------------- ------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON: IN - ---------------------- -------------------------------------------------------------------------------------------------------
* Includes 3,000 options granted pursuant to the Non-employee Directors Stock Accumulation Plan which are exercisable between 11/5/02 and 11/5/11 at an exercise price of $8.52. - ------------------------------ ---------------------------------- CUSIP No. 427056106 13D Page 9 of 17 Pages - ------------------------------ ---------------------------------- - ---------------------- ------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON HARRY FIELDS S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON - ---------------------- ------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) |X| (b) |_| - ---------------------- ------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ---------------------- ------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS: OO - ---------------------- ------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): |_| - ---------------------- ------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION: USA - ---------------------- ------------------------------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER: 1,000 SHARES ------------------- ------------------------------------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER: 0 OWNED BY ------------------- ------------------------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER: 1,000 REPORTING ------------------- ------------------------------------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER: 0 - ---------------------- ------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 1,000 - ---------------------- ------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: |_| - ---------------------- ------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 0.001% - ---------------------- ------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON: IN - ---------------------- -------------------------------------------------------------------------------------------------------
- ------------------------------ ---------------------------------- CUSIP No. 427056106 13D Page 10 of 17 Pages - ------------------------------ ---------------------------------- - ---------------------- ------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON ANTHONY KRONMAN S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON - ---------------------- ------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) |X| (b) |_| - ---------------------- ------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ---------------------- ------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS: OO - ---------------------- ------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): |_| - ---------------------- ------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION: USA - ---------------------- ------------------------------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER: 1,000 SHARES ------------------- ------------------------------------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER: 0 OWNED BY ------------------- ------------------------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER: 1,000 REPORTING ------------------- ------------------------------------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER: 0 - ---------------------- ------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 1,000 - ---------------------- ------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: |_| - ---------------------- ------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 0.001% - ---------------------- ------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON: IN - ---------------------- -------------------------------------------------------------------------------------------------------
- ------------------------------ ---------------------------------- CUSIP No. 427056106 13D Page 11 of 17 Pages - ------------------------------ ---------------------------------- - ---------------------- ------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON VINCENT TESE S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON - ---------------------- ------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) |X| (b) |_| - ---------------------- ------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ---------------------- ------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS: OO - ---------------------- ------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): |_| - ---------------------- ------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION: USA - ---------------------- ------------------------------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER: 1,000 SHARES ------------------- ------------------------------------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER: 0 OWNED BY ------------------- ------------------------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER: 1,000 REPORTING ------------------- ------------------------------------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER: 0 - ---------------------- ------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 1,000 - ---------------------- ------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: |_| - ---------------------- ------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 0.001% - ---------------------- ------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON: IN - ---------------------- -------------------------------------------------------------------------------------------------------
- ------------------------------ ---------------------------------- CUSIP No. 427056106 13D Page 12 of 17 Pages - ------------------------------ ---------------------------------- - ---------------------- ------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON GERALD TSAI, JR. S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON - ---------------------- ------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) |X| (b) |_| - ---------------------- ------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ---------------------- ------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS: OO - ---------------------- ------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): |_| - ---------------------- ------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION: USA - ---------------------- ------------------------------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER: 10,000 SHARES ------------------- ------------------------------------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER: 0 OWNED BY ------------------- ------------------------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER: 10,000 REPORTING ------------------- ------------------------------------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER: 0 - ---------------------- ------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 10,000 - ---------------------- ------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: |_| - ---------------------- ------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 0.01% - ---------------------- ------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON: IN - ---------------------- -------------------------------------------------------------------------------------------------------
This Amendment No. 15 ("Amendment No. 15") is being filed by and on behalf of Samuel J. Heyman ("Mr. Heyman"), Raymond S. Troubh ("Mr. Troubh"), Sunil Kumar ("Mr. Kumar"), Gloria Schaffer ("Ms. Schaffer" and together with Mr. Heyman, Mr. Kumar and Mr. Troubh, the "Minority Directors"), Harry Fields ("Mr. Fields"), Anthony T. Kronman ("Mr. Kronman"), Vincent Tese ("Mr. Tese") and Gerald Tsai, Jr. ("Mr. Tsai" and together with Mr. Fields, Mr. Kronman and Mr. Tese, the "Nominees"), ISP Investco LLC, a Delaware limited liability company ("Investco"), International Specialty Holdings Inc., a Delaware corporation ("Holdings"), and International Specialty Products Inc., a Delaware corporation ("ISP" and together with the Minority Directors, the Nominees, Investco and Holdings, the "Reporting Persons"), and it amends the statement of beneficial ownership on Schedule 13D ("Schedule 13D") filed on July 24, 2000, as amended by Amendment No. 1 filed on October 11, 2000, Amendment No. 2 filed on January 23, 2001, Amendment No. 3 filed on February 7, 2001, Amendment No. 4 filed on February 20, 2001, Amendment No. 5 filed on February 28, 2001, Amendment No. 6 filed on March 7, 2001, Amendment No. 7 filed on March 9, 2001, Amendment No. 8 filed on March 12, 2001, Amendment No. 9 filed on April 4, 2001, Amendment No. 10 filed on April 11, 2001, Amendment No. 11 filed on April 13, 2001, Amendment No. 12 filed on August 2, 2001, Amendment No. 13 filed on February 12, 2003 and Amendment No. 14 filed on March 20, 2003 with respect to the ownership of common stock, stated value $25/48 per share ("Common Stock"), of Hercules Incorporated ("Hercules" or the "Company"). As provided in the Joint Filing Agreement filed as an exhibit hereto, the Reporting Persons have agreed pursuant to Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended, to file one Statement on Schedule 13D with respect to their ownership of Common Stock. Capitalized terms used herein and not defined herein have the meanings ascribed thereto in the Schedule 13D, as previously amended. ITEM 2. IDENTITY AND BACKGROUND Item 2 is hereby amended and supplemented as follows: The Reporting Persons are filing this Schedule 13D jointly, pursuant to the Joint Filing Agreement, dated July 15, 2003, filed as an exhibit hereto. ITEM 4. PURPOSE OF TRANSACTION Item 4 is hereby amended and supplemented as follows: On July 14, 2003, ISP issued a press release (the "Press Release") announcing that it intends, either directly or through an affiliate, upon the election to the Hercules Board of Directors of the nominees of The Hercules Shareholders' Committee for NEW Management (the "Committee"), to acquire an additional ten million shares of Common Stock. ISP or its affiliate intends to commence a tender offer for five million shares of Common Stock at $12.00 per share in cash and to purchase an additional five million shares of Hercules common stock through open market purchases thereafter. In a letter from ISP and Mr. Heyman to the Committee dated July 14, 2003 (the "Commitment Letter"), ISP and Mr. Heyman committed to enter into a standstill agreement, which would become effective upon the election to the Hercules Board of Directors of all four of the Nominees. Pursuant to the standstill agreement, ISP and Mr. Heyman would agree, for a period of two years, not to make any acquisition or merger proposal for Hercules or any of its business units, unless a third party makes an acquisition proposal first, and to otherwise limit their ownership in Hercules' stock to 20% of Hercules' outstanding shares. Page 13 of 17 Pages The foregoing summary of the Press Release and the Commitment Letter are qualified in their entirety by reference to the text of the documents, which are attached hereto as Exhibits 99.01 and 99.02, respectively, and which are incorporated herein by reference. The commitments set forth in the Commitment Letter are in addition to the procedural safeguards set forth in the June 24th letter from ISP and Mr. Heyman to the Committee, which is attached hereto as Exhibit 99.03 and which is incorporated herein by reference. ITEM 5. INTEREST IN SECURITIES OF THE ISSUER Item 5 is hereby amended and supplemented as follows: Each of ISP, the Minority Directors and Nominees have agreed to be part of the Committee. Because of such agreement, ISP, the Minority Directors and Nominees may be deemed to be part of a "group" for purposes of Rule 13d-3 of the Exchange Act. Investco, Holdings, ISP and Mr. Heyman may also be deemed to part of the "group" because: (i) as of the filing of this Amendment No. 15 Investco has the sole power to vote, direct the voting of, dispose of and direct the disposition of 9,893,700 shares of Common Stock (the "Investco Shares"); (ii) Holdings, by virtue of being the sole member of Investco, may be deemed to own beneficially (solely for purposes of Rule 13d-3 under the Exchange Act) the Investco Shares; (iii) ISP, by virtue of its ownership of all of the outstanding common stock of Holdings, may be deemed to own beneficially (solely for purposes of Rule 13d-3 under the Exchange Act) the Investco Shares and (iv) Mr. Heyman, by virtue of his deemed beneficial ownership (as defined in Rule 13d-3 under the Exchange Act) of approximately 100% of the outstanding shares of common stock of ISP, may be deemed to own beneficially (solely for purposes of Rule 13d-3 under the Exchange Act) the Investco Shares. As of the filing of this Amendment No. 15, the Reporting Persons beneficially owned (or are deemed, solely for purposes of Rule 13d-3 under the Exchange Act, to beneficially own), directly or indirectly, an aggregate of 9,972,411 shares of Common Stock (the "Shares"), representing approximately 9.01% of the shares of Common Stock outstanding on June 6, 2003 (based on 110,731,573 shares of Common Stock outstanding as of such date, as set forth in the Company's Definitive Proxy Statement on Schedule 14A filed with the Securities and Exchange Commission on June 20, 2003). In accordance with Rule 13d-5(b)(1) of the General Rules and Regulations under the Exchange Act, to the extent a "group" is deemed to exist among the Reporting Persons, each of the Reporting Persons may be deemed to have beneficial ownership, for purposes of Sections 13(g) and 13(d) of the Exchange Act, of the Shares. The filing of this Amendment No. 15 is not, and shall not be construed as, an admission for the purposes of Sections 13(d) and 13(g) and Regulation 13D-G of the Exchange Act nor for any other purposes or under any other provision of the Exchange Act or the rules promulgated thereunder that the Reporting Persons or any of their executive officers or directors beneficially owns any of the Shares, other than shares of Common Stock with respect to which such Reporting Person has direct beneficial ownership as set forth below. As of the filing of this Amendment No. 15: (i) Investco has direct beneficial ownership of 9,893,700 of the Shares; (ii) Mr. Heyman has direct beneficial ownership of 11,948 of the Shares; (iii) Mr. Kumar has direct beneficial ownership of 25,987 of the Shares; (iv) Mrs. Schaffer has direct beneficial ownership of 7,828 of the Shares; (v) Mr. Troubh has direct beneficial ownership of 19,948 of the Shares, (vi) Mr. Fields has direct beneficial ownership of 1,000 of the Shares; (vii) Mr. Kronman has direct beneficial ownership of 1,000 of the Shares; (viii) Mr. Tese has direct beneficial ownership of 1,000 of the Shares; and (ix) Mr. Tsai has direct beneficial ownership of 10,000 of the Shares. With respect to the Minority Directors, the foregoing Page 14 of 17 Pages numbers of shares include shares of Common Stock acquired and/or granted to each of them in connection with their service as members of the Board of Directors. Since March 20, 2003, the date of the filing of Amendment No. 14 to the Schedule 13D, the following transactions were effected in the open market: (i) Mr. Fields purchased 1,000 shares of Common Stock on April 2, 2003; (ii) Mr. Kronman purchased 1,000 shares of Common Stock on April 9, 2003 ; (iii) Mr. Tese purchased 1,000 shares of Common Stock on April 3, 2003; (iv) Mr. Tsai purchased 5,000 shares of Common Stock on April 7, 2003; and (v) Mr. Tsai purchased 5,000 shares of Common Stock on April 9, 2003. In the last 60 days no transactions have been effected with respect to securities of the Company by any of the Reporting Persons. ITEM 7. MATERIAL TO BE FILED AS EXHIBITS. Exhibit 10.02 Joint Filing Agreement, dated as of July 15, 2003, by and among the Reporting Persons. Exhibit 99.01 Press Release issued by ISP on July 14, 2003. Exhibit 99.02 Commitment Letter dated July 14, 2003, from ISP and Mr. Heyman to the Committee. Exhibit 99.03 Letter dated June 24, 2003, from ISP and Mr. Heyman to the Committee. Page 15 of 17 Pages SIGNATURES After reasonable inquiry and to the best of their knowledge and belief, the undersigned certify that the information set forth in this Statement is true, complete and correct. Dated: July 15, 2003 ISP INVESTCO LLC By: International Specialty Holdings Inc., its Sole Member By: /s/ Richard A. Weinberg ------------------------------------------- Richard A. Weinberg Executive Vice President, General Counsel and Secretary INTERNATIONAL SPECIALTY HOLDINGS INC. By: /s/ Richard A. Weinberg ------------------------------------------- Richard A. Weinberg Executive Vice President, General Counsel and Secretary INTERNATIONAL SPECIALTY PRODUCTS INC. By: /s/ Richard A. Weinberg ------------------------------------------- Richard A. Weinberg Executive Vice President, General Counsel and Secretary /s/ Samuel J. Heyman ------------------------------------------- SAMUEL J. HEYMAN Page 16 of 17 Pages /s/ Sunil Kumar ------------------------------------------- SUNIL KUMAR /s/ Gloria Schaffer ------------------------------------------- GLORIA SCHAFFER /s/ Raymond S. Troubh ------------------------------------------- RAYMOND S. TROUBH /s/ Harry Fields ------------------------------------------- HARRY FIELDS /s/ Anthony T. Kronman ------------------------------------------- ANTHONY T. KRONMAN /s/ Vincent Tese ------------------------------------------- VINCENT TESE /s/ Gerald Tsai, Jr. ------------------------------------------- GERALD TSAI, JR. Page 17 of 17 Pages EX-10.02 3 c28774_ex10-02.txt JOINT FILING AGREEMENT The undersigned hereby agree, pursuant to Rule 13d-1(k) of the Securities Exchange Act of 1934, as amended, to file joint statements on Schedule 13D and amendments thereto pertaining to their beneficial ownership of shares of common stock, stated value $25/48 each, of Hercules Incorporated, a Delaware corporation, and that this joint filing agreement may be included as an Exhibit to such joint filing. This joint filing agreement may be terminated for any reason by any party hereto immediately upon the personal delivery or facsimile transmission of notice to that effect to the other parties hereto. This joint filing agreement may be executed in one or more counterparts, each of which together shall be deemed to be an original instrument, but all of such counterparts together shall constitute but one agreement. SIGNATURES IN WITNESS WHEREOF, this joint filing agreement has been duly executed and delivered as of July 15, 2003. ISP INVESTCO LLC By: International Specialty Holdings Inc., its Sole Member By: /s/ Richard A. Weinberg ------------------------------------------- Richard A. Weinberg Executive Vice President, General Counsel and Secretary INTERNATIONAL SPECIALTY HOLDINGS INC. By: /s/ Richard A. Weinberg ------------------------------------------- Richard A. Weinberg Executive Vice President, General Counsel and Secretary INTERNATIONAL SPECIALTY PRODUCTS INC. By: /s/ Richard A. Weinberg ------------------------------------------- Richard A. Weinberg Executive Vice President, General Counsel and Secretary /s/ Samuel J. Heyman ------------------------------------------- SAMUEL J. HEYMAN /s/ Sunil Kumar ------------------------------------------- SUNIL KUMAR 2 /s/ Gloria Schaffer ------------------------------------------- GLORIA SCHAFFER /s/ Raymond S. Troubh ------------------------------------------- RAYMOND S. TROUBH /s/ Harry Fields ------------------------------------------- HARRY FIELDS /s/ Anthony T. Kronman ------------------------------------------- ANTHONY T. KRONMAN /s/ Vincent Tese ------------------------------------------- VINCENT TESE /s/ Gerald Tsai, Jr. ------------------------------------------- GERALD TSAI, JR. 3 EX-99.1 4 c28774_ex99-1.txt NEWS RELEASE - -------------------------------------------------------------------------------- International Specialty Products Inc. * 1361 Alps Road * Wayne, New Jersey 07470 Contact: Neal E. Murphy, Senior Vice President and Chief Financial Officer, (973) 872-4200 INTERNATIONAL SPECIALTY PRODUCTS ANNOUNCES ITS INTENTION TO PURCHASE TEN MILLION HERCULES SHARES UPON ELECTION OF THE NOMINEES OF THE HERCULES SHAREHOLDERS' COMMITTEE FOR NEW MANAGEMENT ------------------------------------------------------ WAYNE, NJ, JULY 14, 2003 - International Specialty Products Inc. (ISP) today announced that it intends, either directly or through an affiliate, upon the election of the nominees of The Hercules Shareholders' Committee for NEW Management, to acquire an additional ten million shares of Hercules Incorporated (NYSE: HPC) common stock -- over and above its current ownership of 9.9 million Hercules shares. ISP intends to commence a tender offer for five million shares at $12 per share in cash and purchase an additional five million shares of Hercules common stock through open market purchases thereafter. The tender offer would commence after the election at Hercules' 2003 Annual Meeting of Shareholders, which is scheduled for July 25, 2003, of all four Committee nominees and would begin promptly after certification of the shareholders' vote. The $12 price represents an almost 50% premium over Hercules' closing price of $8.12 per share on February 11, 2003 -- the day prior to ISP's filing of an amendment to its Schedule 13D which indicated that it was considering waging a proxy contest at Hercules 2003 Annual Meeting. The tender offer would be conditioned on the Hercules Board eliminating Hercules' "poison pill", which has been one of the stated intentions of the Committee. After completion of its tender offer, ISP intends to purchase an additional five million shares of Hercules common stock in the open market during the following twelve-month period. These purchases would be made from time to time on the open market at prevailing market prices or in privately negotiated transactions. ISP, which has previously satisfied the requirements of the Hart-Scott-Rodino Antitrust Improvements Act for the purchase of up to 15% of Hercules common stock, intends to apply for clearance under such Act, promptly following completion of its tender offer, to purchase up to 20% of Hercules shares. ISP currently beneficially owns approximately 9% of the outstanding shares of Hercules common stock and, upon completion of the tender offer and its open market purchase program, would own 18% of Hercules common stock. ISP also announced that, together with its Chairman, Samuel J. Heyman, it has committed to enter into a standstill agreement, which would become effective upon the election of all four of the Committee's nominees to the Hercules Board. Pursuant to the standstill agreement, ISP and Mr. Heyman would agree, for a period of two years, not to make any acquisition or merger proposal for Hercules or any of its business units, unless a third party makes an acquisition proposal first, and to otherwise limit their ownership in Hercules' stock to 20% of Hercules' outstanding shares. Mr. Heyman stated that "we have made these commitments today following consultation with several major Hercules shareholders. Our intention to commence the tender offer and the follow-on open market purchase program, which would increase our ownership interest in the Company by more than 100%, demonstrates our commitment to Hercules and is an expression of our confidence in its ability to grow under the right leadership. The tender offer will also provide those Hercules shareholders who wish to sell at least a portion of their shares now with an opportunity to do so at a premium above the current market price." Mr. Heyman further noted that "we have agreed to enter into the proposed standstill agreement in order to remove even the slightest remaining appearance of a conflict of interest, address the stated concerns of several Hercules shareholders, and broaden the shareholder mandate for our Committee's nominees. This is in addition to the previously announced procedural safeguards with respect to any acquisition proposal which we committed to in our June 24th letter to the Committee." ISP urges shareholders to sign, date and return the WHITE proxy card voting FOR The Hercules Shareholders' Committee for NEW Management's director nominees. Shareholders with questions or in need of assistance in voting their shares should contact Georgeson Shareholder Communications Inc., the Committee's proxy solicitation agent, toll free, at (866) 288-2190 (banks and brokerage firms please call (212) 440-9800). ### International Specialty Products Inc. is a leading multinational manufacturer of specialty chemicals and mineral products. ADDITIONAL INFORMATION AND WHERE TO FIND IT. This announcement is neither an offer to purchase nor a solicitation of an offer to sell Hercules shares. The tender offer will only be made through an offer to purchase, letter of transmittal and related tender offer materials. At the time the tender offer is commenced, ISP will file these tender offer materials with the Securities and Exchange Commission and, within ten business days thereafter, Hercules will be required to file a solicitation/recommendation statement with respect to the offer. The tender offer materials and the solicitation/recommendation statement will contain important information. Stockholders are urged to read this information carefully before making any decisions about the tender offer. The tender offer materials, certain other offer materials, and the solicitation/recommendation statement will be sent free of charge to all stockholders of Hercules. All of these materials will also be available free of charge at the SEC's website at www.sec.gov. Free copies of these materials may also be obtained from ISP by directing a request by mail to ISP's Office of the General Counsel, 1361 Alps Road, Wayne, New Jersey 07470 or by telephone 1-800-526-5315. 2 PORTIONS OF THIS PRESS RELEASE MAY CONSTITUTE "FORWARD-LOOKING STATEMENTS" AS DEFINED BY FEDERAL LAW. ALTHOUGH ISP BELIEVES SUCH STATEMENTS ARE BASED ON REASONABLE ASSUMPTIONS, THERE IS NO ASSURANCE THAT ACTUAL OUTCOMES WILL NOT BE MATERIALLY DIFFERENT. ANY SUCH STATEMENTS ARE MADE IN RELIANCE ON THE "SAFE HARBOR" PROTECTIONS UNDER THE PRIVATE SECURITIES REFORM ACT OF 1995. 3 EX-99.2 5 c28774_ex99-2.txt July 14, 2003 To The Hercules Shareholders' Committee for NEW Management 17 State Street New York, NY 10004 While the undersigned and our respective affiliates (the "Heyman parties") have no intention of making a proposal to acquire Hercules, we hereby agree, subject to all of the Committee's nominees being elected to Hercules' Board of Directors, to enter into a standstill agreement with Hercules that will contain the following terms: 1. The Heyman parties will agree that for a period of two years (the "Term") they will not acquire or agree, offer, seek or propose to acquire the Company or substantially all of its assets, by merger, tender or exchange offer or consolidation or to make a proposal to acquire any of Hercules' business units or to otherwise enter into any other business combination transaction (in each case, a "Takeover Proposal"). 2. Notwithstanding anything contained above, in the event that (x) a third party proposes to enter into an agreement with Hercules or any of its subsidiaries with respect to a merger, consolidation or other business combination involving Hercules or any of its subsidiaries, (y) a bona fide tender offer or exchange offer is announced by a third party which would result, if consummated in accordance with its terms, in a change of control of Hercules or (z) a third party proposes to enter into an agreement with Hercules with respect to the sale, transfer, conveyance or other disposition, in one transaction or a series of related transactions, of a material portion of the assets of Hercules and its subsidiaries taken as a whole or of any business unit of Hercules (in each case, an "Acquisition Proposal"), then the Heyman parties will be entitled to make a Takeover Proposal if such Takeover Proposal is a Superior Proposal (as defined below). Additionally, notwithstanding anything contained above, in the event the third party Acquisition Proposal is for assets of Hercules and its subsidiaries not constituting all or substantially all of such assets, then the Heyman parties' Takeover Proposal, if any, shall not be for more assets than those subject to such third party's Acquisition Proposal. A-1 As used in this paragraph (2), "Superior Proposal" means a bona fide written proposal that is on terms that would, if consummated, result in a transaction that would, or would be reasonably likely to, be more favorable to Hercules or its shareholders than the transactions contemplated by the Acquisition Proposal. 3. In the event the Heyman parties make a permitted Takeover Proposal pursuant to paragraph (2) above or after the expiration of the Term, Samuel J. Heyman and Sunil Kumar agree to resign from the Hercules Board upon making such a Takeover Proposal. 4. The Heyman parties will agree that, except as expressly permitted in paragraph (2) above, during the Term they will not acquire or agree, offer, seek or propose to acquire more than twenty percent (20%) of the then outstanding shares of Hercules common stock. 5. The commitments referred to in paragraphs (1), (2) and (3) are in addition to the procedural safeguards set forth in the June 24th letter from the Heyman parties to the Committee, which continue in full force and effect. Sincerely, International Specialty Products Inc. By: /s/Sunil Kumar /s/Samuel J. Heyman ----------------------- ------------------- Sunil Kumar Samuel J. Heyman Chief Executive Officer EX-99.3 6 c28774_ex99-3.txt June 24, 2003 To The Hercules Shareholders' Committee for NEW Management 17 State Street New York, NY 10004 While we have no intention of making a proposal to acquire Hercules, in order to avoid any possible conflict of interest or even the appearance of a possible conflict, the undersigned and our respective affiliates (the "Heyman parties"), hereby agree, subject to the Committee's nominees being elected to Hercules' Board of Directors, to support and abide by the following procedural safeguards in connection with any future acquisition proposal made for the Company. o In the event that any acquisition proposal is made for Hercules by the Heyman parties: o The Heyman parties would support the formation of a Special Committee to respond to and, if appropriate, negotiate any acquisition proposal. The Special Committee would consist of solely independent and disinterested directors, represented by independent financial advisors and legal counsel. o The Heyman parties would not pursue any acquisition proposal for Hercules that is not recommended by the Special Committee. o The Heyman parties would only proceed with an acquisition transaction for Hercules if approved by two-thirds of the shares (excluding those shares owned by the Heyman parties). o The Heyman parties would support a competing proposal by a third party if the Special Committee decides the third party proposal is superior. o In the event a third party makes an acquisition proposal for Hercules and the Heyman parties have not: o The Heyman parties would tender all shares beneficially owned by them into any tender or exchange offer, if Hercules' disinterested and independent directors recommend that shareholders accept such offer; and A-1 o If any vote of Hercules shareholders is held in connection with a third party acquisition proposal, the Heyman parties would vote all shares beneficially owned by them in the same proportion as the votes of the other Hercules shareholders. Sincerely, International Specialty Products Inc. By: /s/ Sunil Kumar /s/Samuel J. Heyman ----------------------- ------------------- Sunil Kumar Samuel J. Heyman Chief Executive Officer A-2 -----END PRIVACY-ENHANCED MESSAGE-----