-----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, HyorMz1JECZROFs7I8zV116lSvWZjPhNil51iRa+ECKu8d+kq4fThUKz1YvIroGy QHYN+u5hv9/2Tp1jp1Mp1w== 0000899243-96-001178.txt : 19960904 0000899243-96-001178.hdr.sgml : 19960904 ACCESSION NUMBER: 0000899243-96-001178 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 3 FILED AS OF DATE: 19960903 SROS: NONE GROUP MEMBERS: CLIPPER CAPITAL ASSOCIATES, INC. GROUP MEMBERS: CLIPPER CAPITAL ASSOCIATES, L.P. GROUP MEMBERS: CLIPPER CAPITAL CORPORATION GROUP MEMBERS: CLIPPER CAPITAL PARTNERS, L.P. GROUP MEMBERS: CLIPPER EQUITY PARTNERS I, L.P. GROUP MEMBERS: CLIPPER/EUROPEAN RE, L.P. GROUP MEMBERS: CLIPPER/MERBAN, L.P. GROUP MEMBERS: CLIPPER/MERCHANT PARTNERS, L.P. GROUP MEMBERS: CONROY, L.L.C. GROUP MEMBERS: CS FIRST BOSTON MERCHANT INVESTMENTS 1995/96, L.P. GROUP MEMBERS: FAYEZ SAROFIM GROUP MEMBERS: FAYEZ SAROFIM & CO. GROUP MEMBERS: FRANK P. DIASSI GROUP MEMBERS: FSI NO. 2 CORPORATION GROUP MEMBERS: HEVRDEJS FRANK J GROUP MEMBERS: HUNTER NELSON GROUP MEMBERS: JAMES A. CONROY GROUP MEMBERS: KOCH EQUITIES, INC. GROUP MEMBERS: KOCH INDUSTRIES, INC. GROUP MEMBERS: LJM, L.L.C. GROUP MEMBERS: LOUIS J. MISCHIANTI GROUP MEMBERS: OEF, L.P. GROUP MEMBERS: OGP II, L.P. GROUP MEMBERS: OLYMPUS EXECUTIVE FUND, L.P. GROUP MEMBERS: OLYMPUS GROWTH FUND II, L.P. GROUP MEMBERS: ROBERT B. CALHOUN, JR. GROUP MEMBERS: ROBERT S. MORRIS GROUP MEMBERS: RSM, L.L.C. GROUP MEMBERS: THE RHENEY LIVING TRUST GROUP MEMBERS: WILLIAM C. OEHMIG SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: STERLING CHEMICALS HOLDINGS INC CENTRAL INDEX KEY: 0000795662 STANDARD INDUSTRIAL CLASSIFICATION: INDUSTRIAL ORGANIC CHEMICALS [2860] IRS NUMBER: 760185186 STATE OF INCORPORATION: DE FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: SC 13D SEC ACT: 1934 Act SEC FILE NUMBER: 005-40034 FILM NUMBER: 96625270 BUSINESS ADDRESS: STREET 1: 1200 SMITH ST, SUITE 1900 CITY: HOUSTON STATE: TX ZIP: 77002-4312 BUSINESS PHONE: 7136503700 MAIL ADDRESS: STREET 1: 1200 SMITH ST SUITE 1900 CITY: HOUSTON STATE: TX ZIP: 77002-4312 FORMER COMPANY: FORMER CONFORMED NAME: STERLING CHEMICALS INC DATE OF NAME CHANGE: 19920703 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: HEVRDEJS FRANK J CENTRAL INDEX KEY: 0001003982 STANDARD INDUSTRIAL CLASSIFICATION: [] FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: STERLING GROUP STREET 2: EIGHT GREENWAY PLAZA STE 702 CITY: HOUSTON STATE: TX ZIP: 77046 BUSINESS PHONE: 7138778267 SC 13D 1 SCHEDULE 13D SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 STERLING CHEMICALS HOLDINGS, INC. ---------------------------------------------- (Name of Issuer) Common Stock, par value $.01 per share ------------------------------------------- (Title of Class of Securities) 85916 E 10 3 ---------------------------------------- (CUSIP Number) David J. Graham Frank J. Hevrdejs Andrews & Kurth L.L.P. Eight Greenway Plaza, Suite 702 4200 Texas Commerce Tower Houston, Texas 77046 Houston, Texas 77002 (713) 877-8257 (713) 220-4200 _____________________________________ (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) August 21, 1996 -------------------------------------- (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 which is the subject of this Schedule 13G, and is filing this schedule because of Rule 13d-1(b)(3) or (4), check the following box: ___ Check the following box if a fee is being paid with the statement: X --- SCHEDULE 13D
CUSIP No. 85916E103 PAGE 2 OF 31 PAGES - ------------------------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Frank P. Diassi ###-##-#### - ------------------------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (A) [ ] (B) [X] - ------------------------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* PF - ------------------------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) [ ] - ------------------------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION United States - ------------------------------------------------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF 0 ----------------------------------------------------------------------------------------------- SHARES 8 SHARED VOTING POWER BENEFICIALLY OWNED BY 453,630 ----------------------------------------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING 0 PERSON ----------------------------------------------------------------------------------------------- WITH 10 SHARED DISPOSITIVE POWER 453,630 - ------------------------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 453,630 - ------------------------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [X] - ------------------------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 4.17% - ------------------------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON IN - -------------------------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT! SCHEDULE 13D
CUSIP No. 85916E103 PAGE 3 OF 31 PAGES - ------------------------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Hunter Nelson ###-##-#### - ------------------------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (A) [ ] (B) [X] - ------------------------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* PF - ------------------------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) [ ] - ------------------------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION United States - ------------------------------------------------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF 52,410 ----------------------------------------------------------------------------------------------- SHARES 8 SHARED VOTING POWER BENEFICIALLY OWNED BY 0 ----------------------------------------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING 52,410 PERSON ----------------------------------------------------------------------------------------------- WITH 10 SHARED DISPOSITIVE POWER 0 - ------------------------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 52,410 - ------------------------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [X] - ------------------------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.48% - ------------------------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON IN - -------------------------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT! SCHEDULE 13D
CUSIP No. 85916E103 PAGE 4 OF 31 PAGES - ------------------------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON William C. Oehmig ###-##-#### - ------------------------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (A) [ ] (B) [X] - ------------------------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* PF - ------------------------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) [ ] - ------------------------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION United States - ------------------------------------------------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF 0 ----------------------------------------------------------------------------------------------- SHARES 8 SHARED VOTING POWER BENEFICIALLY OWNED BY 345,963 ----------------------------------------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING 0 PERSON ----------------------------------------------------------------------------------------------- WITH 10 SHARED DISPOSITIVE POWER 345,963 - ------------------------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 345,963 - ------------------------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [X] - ------------------------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 3.18% - ------------------------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON IN - -------------------------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT! SCHEDULE 13D
CUSIP No. 85916E103 PAGE 5 OF 31 PAGES - ------------------------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Frank J. Hevrdejs ###-##-#### - ------------------------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (A) [ ] (B) [X] - ------------------------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* PF - ------------------------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) [ ] - ------------------------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION United States - ------------------------------------------------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF 661,961 ----------------------------------------------------------------------------------------------- SHARES 8 SHARED VOTING POWER BENEFICIALLY OWNED BY 0 ----------------------------------------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING 661,961 PERSON ----------------------------------------------------------------------------------------------- WITH 10 SHARED DISPOSITIVE POWER 0 - ------------------------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 661,961 - ------------------------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [X] - ------------------------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 6.08% - ------------------------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON IN - -------------------------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT! SCHEDULE 13D
CUSIP No. 85916E103 PAGE 6 OF 31 PAGES - ------------------------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON The Rheney Living Trust (Susan O. Rheney and Clarke Rheney, Trustees) - ------------------------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (A) [ ] (B) [X] - ------------------------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* PF - ------------------------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) [ ] - ------------------------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION United States - ------------------------------------------------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF 41,670 ----------------------------------------------------------------------------------------------- SHARES 8 SHARED VOTING POWER BENEFICIALLY OWNED BY 0 ----------------------------------------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING 41,670 PERSON ----------------------------------------------------------------------------------------------- WITH 10 SHARED DISPOSITIVE POWER 0 - ------------------------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 41,670 - ------------------------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [X] - ------------------------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.38% - ------------------------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON IN - -------------------------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT! SCHEDULE 13D
CUSIP No. 85916E103 PAGE 7 OF 31 PAGES - ------------------------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Clipper Capital Associates, Inc. 13-3706407 - ------------------------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (A) [ ] (B) [X] - ------------------------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* Not Applicable - ------------------------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) [ ] - ------------------------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ------------------------------------------------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF 0 ----------------------------------------------------------------------------------------------- SHARES 8 SHARED VOTING POWER BENEFICIALLY OWNED BY 1,518,870 ----------------------------------------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING 0 PERSON ----------------------------------------------------------------------------------------------- WITH 10 SHARED DISPOSITIVE POWER 1,518,870 - ------------------------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,518,870 - ------------------------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [X] - ------------------------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 13.95% - ------------------------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON CO - -------------------------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT! SCHEDULE 13D
CUSIP No. 85916E103 PAGE 8 OF 31 PAGES - ------------------------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Clipper Capital Associates, L.P. 13-3706321 - ------------------------------------------------------------------------------------------------------------------------- 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 PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) [ ] - ------------------------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ------------------------------------------------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF 0 ----------------------------------------------------------------------------------------------- SHARES 8 SHARED VOTING POWER BENEFICIALLY OWNED BY 1,518,870 ----------------------------------------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING 0 PERSON ----------------------------------------------------------------------------------------------- WITH 10 SHARED DISPOSITIVE POWER 1,518,870 - ------------------------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,518,870 - ------------------------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [X] - ------------------------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 13.95% - ------------------------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON PN - -------------------------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT! SCHEDULE 13D
CUSIP No. 85916E103 PAGE 9 OF 31 PAGES - ------------------------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Clipper/Merchant Partners, L.P. 13-3737437 - ------------------------------------------------------------------------------------------------------------------------- 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 ITEMS 2(D) OR 2(E) [ ] - ------------------------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ------------------------------------------------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF 0 ----------------------------------------------------------------------------------------------- SHARES 8 SHARED VOTING POWER BENEFICIALLY OWNED BY 367,870 ----------------------------------------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING 0 PERSON ----------------------------------------------------------------------------------------------- WITH 10 SHARED DISPOSITIVE POWER 367,870 - ------------------------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 367,870 - ------------------------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [X] - ------------------------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 3.38% - ------------------------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON PN - -------------------------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT! SCHEDULE 13D
CUSIP No. 85916E103 PAGE 10 OF 31 PAGES - ------------------------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Clipper Equity Partners I, L.P. 13-3834258 - ------------------------------------------------------------------------------------------------------------------------- 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 ITEMS 2(D) OR 2(E) [ ] - ------------------------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ------------------------------------------------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF 0 ----------------------------------------------------------------------------------------------- SHARES 8 SHARED VOTING POWER BENEFICIALLY OWNED BY 324,730 ----------------------------------------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING 0 PERSON ----------------------------------------------------------------------------------------------- WITH 10 SHARED DISPOSITIVE POWER 324,730 - ------------------------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 324,730 - ------------------------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [X] - ------------------------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 2.98% - ------------------------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON PN - -------------------------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT! SCHEDULE 13D
CUSIP No. 85916E103 PAGE 11 OF 31 PAGES - ------------------------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Clipper/European Re, L.P. 98-0154020 - ------------------------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (A) [ ] (B) [X] - ------------------------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* 00 - ------------------------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) [ ] - ------------------------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ------------------------------------------------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF 0 ----------------------------------------------------------------------------------------------- SHARES 8 SHARED VOTING POWER BENEFICIALLY OWNED BY 216,490 ----------------------------------------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING 0 PERSON ----------------------------------------------------------------------------------------------- WITH 10 SHARED DISPOSITIVE POWER 216,490 - ------------------------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 216,490 - ------------------------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [X] - ------------------------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 1.99% - ------------------------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON PN - -------------------------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT! SCHEDULE 13D
CUSIP No. 85916E103 PAGE 12 OF 31 PAGES - ------------------------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Clipper/Merban, L.P. 98-013328 - ------------------------------------------------------------------------------------------------------------------------- 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 ITEMS 2(D) OR 2(E) [ ] - ------------------------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ------------------------------------------------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF 0 ----------------------------------------------------------------------------------------------- SHARES 8 SHARED VOTING POWER BENEFICIALLY OWNED BY 432,980 ----------------------------------------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING 0 PERSON ----------------------------------------------------------------------------------------------- WITH 10 SHARED DISPOSITIVE POWER 432,980 - ------------------------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 432,980 - ------------------------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [X] - ------------------------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 3.98% - ------------------------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON PN - -------------------------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT! SCHEDULE 13D
CUSIP No. 85916E103 PAGE 13 OF 31 PAGES - ------------------------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Clipper Capital Corporation 13-3706408 - ------------------------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (A) [ ] (B) [X] - ------------------------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* Not Applicable - ------------------------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) [ ] - ------------------------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ------------------------------------------------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF 0 ----------------------------------------------------------------------------------------------- SHARES 8 SHARED VOTING POWER BENEFICIALLY OWNED BY 64,460 ----------------------------------------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING 0 PERSON ----------------------------------------------------------------------------------------------- WITH 10 SHARED DISPOSITIVE POWER 64,460 - ------------------------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 64,460 - ------------------------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [X] - ------------------------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.59% - ------------------------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON CO - -------------------------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT! SCHEDULE 13D
CUSIP No. 85916E103 PAGE 14 OF 31 PAGES - ------------------------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Clipper Capital Partners, L.P. 13-3706324 - ------------------------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (A) [ ] (B) [X] - ------------------------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* Not Applicable - ------------------------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) [ ] - ------------------------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ------------------------------------------------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF 0 ----------------------------------------------------------------------------------------------- SHARES 8 SHARED VOTING POWER BENEFICIALLY OWNED BY 64,460 ----------------------------------------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING 0 PERSON ----------------------------------------------------------------------------------------------- WITH 10 SHARED DISPOSITIVE POWER 64,460 - ------------------------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 64,460 - ------------------------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [X] - ------------------------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.59% - ------------------------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON PN - -------------------------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT! SCHEDULE 13D
CUSIP No. 85916E103 PAGE 15 OF 31 PAGES - ------------------------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON CS First Boston Merchant Investments 1995/96, L.P. 13-3860592 - ------------------------------------------------------------------------------------------------------------------------- 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 ITEMS 2(D) OR 2(E) [ ] - ------------------------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ------------------------------------------------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF 0 ----------------------------------------------------------------------------------------------- SHARES 8 SHARED VOTING POWER BENEFICIALLY OWNED BY 64,460 ----------------------------------------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING 0 PERSON ----------------------------------------------------------------------------------------------- WITH 10 SHARED DISPOSITIVE POWER 64,460 - ------------------------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 64,460 - ------------------------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [X] - ------------------------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.59% - ------------------------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON PN - -------------------------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT! SCHEDULE 13D
CUSIP No. 85916E103 PAGE 16 OF 31 PAGES - ------------------------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Robert B. Calhoun, Jr. - ------------------------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (A) [ ] (B) [X] - ------------------------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* Not applicable - ------------------------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) [ ] - ------------------------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION United States - ------------------------------------------------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF 0 ----------------------------------------------------------------------------------------------- SHARES 8 SHARED VOTING POWER BENEFICIALLY OWNED BY 1,583,330 ----------------------------------------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING 0 PERSON ----------------------------------------------------------------------------------------------- WITH 10 SHARED DISPOSITIVE POWER 1,583,330 - ------------------------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,583,330 - ------------------------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [X] - ------------------------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 14.54% - ------------------------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON IN - -------------------------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT! SCHEDULE 13D
CUSIP No. 85916E103 PAGE 17 OF 31 PAGES - ------------------------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Koch Equities, Inc. - ------------------------------------------------------------------------------------------------------------------------- 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 PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) [ ] - ------------------------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ------------------------------------------------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF 1,000,000 ----------------------------------------------------------------------------------------------- SHARES 8 SHARED VOTING POWER BENEFICIALLY OWNED BY 0 ----------------------------------------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING 1,000,000 PERSON ----------------------------------------------------------------------------------------------- WITH 10 SHARED DISPOSITIVE POWER 0 - ------------------------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,000,000 - ------------------------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [X] - ------------------------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 9.18% - ------------------------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON CO - -------------------------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT! SCHEDULE 13D
CUSIP No. 85916E103 PAGE 18 OF 31 PAGES - ------------------------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Koch Industries, Inc. - ------------------------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (A) [ ] (B) [X] - ------------------------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* WC - ------------------------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) [ ] - ------------------------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Kansas - ------------------------------------------------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF 0 ----------------------------------------------------------------------------------------------- SHARES 8 SHARED VOTING POWER BENEFICIALLY OWNED BY 1,000,000 ----------------------------------------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING 0 PERSON ----------------------------------------------------------------------------------------------- WITH 10 SHARED DISPOSITIVE POWER 1,000,000 - ------------------------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,000,000 - ------------------------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [X] - ------------------------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 9.18% - ------------------------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON CO - -------------------------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT! SCHEDULE 13D
CUSIP No. 85916E103 PAGE 19 OF 31 PAGES - ------------------------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Olympus Growth Fund II, L.P. - ------------------------------------------------------------------------------------------------------------------------- 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 ITEMS 2(D) OR 2(E) [ ] - ------------------------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ------------------------------------------------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF 0 ----------------------------------------------------------------------------------------------- SHARES 8 SHARED VOTING POWER BENEFICIALLY OWNED BY 539,160 ----------------------------------------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING 0 PERSON ----------------------------------------------------------------------------------------------- WITH 10 SHARED DISPOSITIVE POWER 539,160 - ------------------------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 539,160 - ------------------------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [X] - ------------------------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 4.95% - ------------------------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON PN - -------------------------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT! SCHEDULE 13D
CUSIP No. 85916E103 PAGE 20 OF 31 PAGES - ------------------------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON OGP II, L.P. - ------------------------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (A) [ ] (B) [X] - ------------------------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* Not Applicable - ------------------------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) [ ] - ------------------------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ------------------------------------------------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF 0 ----------------------------------------------------------------------------------------------- SHARES 8 SHARED VOTING POWER BENEFICIALLY OWNED BY 539,160 ----------------------------------------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING 0 PERSON ----------------------------------------------------------------------------------------------- WITH 10 SHARED DISPOSITIVE POWER 539,160 - ------------------------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 539,160 - ------------------------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [X] - ------------------------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 4.95% - ------------------------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON PN - -------------------------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT! SCHEDULE 13D
CUSIP No. 85916E103 PAGE 21 OF 31 PAGES - ------------------------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Olympus Executive Fund, L.P. - ------------------------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (A) [ ] (B) [X] - ------------------------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* Not Applicable - ------------------------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) [ ] - ------------------------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ------------------------------------------------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF 0 ----------------------------------------------------------------------------------------------- SHARES 8 SHARED VOTING POWER BENEFICIALLY OWNED BY 6,670 ----------------------------------------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING 0 PERSON ----------------------------------------------------------------------------------------------- WITH 10 SHARED DISPOSITIVE POWER 6,670 - ------------------------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 6,670 - ------------------------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [X] - ------------------------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.06% - ------------------------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON PN - -------------------------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT! SCHEDULE 13D
CUSIP No. 85916E103 PAGE 22 OF 31 PAGES - ------------------------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON OEF, L.P. - ------------------------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (A) [ ] (B) [X] - ------------------------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* Not Applicable - ------------------------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) [ ] - ------------------------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ------------------------------------------------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF 0 ----------------------------------------------------------------------------------------------- SHARES 8 SHARED VOTING POWER BENEFICIALLY OWNED BY 6,670 ----------------------------------------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING 0 PERSON ----------------------------------------------------------------------------------------------- WITH 10 SHARED DISPOSITIVE POWER 6,670 - ------------------------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 6,670 - ------------------------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [X] - ------------------------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 4.95% - ------------------------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON PN - -------------------------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT! SCHEDULE 13D
CUSIP No. 85916E103 PAGE 23 OF 31 PAGES - ------------------------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON LJM, L.L.C. - ------------------------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (A) [ ] (B) [X] - ------------------------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* Not Applicable - ------------------------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) [ ] - ------------------------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ------------------------------------------------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF 0 ----------------------------------------------------------------------------------------------- SHARES 8 SHARED VOTING POWER BENEFICIALLY OWNED BY 545,830 ----------------------------------------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING 0 PERSON ----------------------------------------------------------------------------------------------- WITH 10 SHARED DISPOSITIVE POWER 545,830 - ------------------------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 545,830 - ------------------------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [X] - ------------------------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.01% - ------------------------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON OO - -------------------------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT! SCHEDULE 13D
CUSIP No. 85916E103 PAGE 24 OF 31 PAGES - ------------------------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON RSM, L.L.C. - ------------------------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (A) [ ] (B) [X] - ------------------------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* Not Applicable - ------------------------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) [ ] - ------------------------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ------------------------------------------------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF 0 ----------------------------------------------------------------------------------------------- SHARES 8 SHARED VOTING POWER BENEFICIALLY OWNED BY 545,830 ----------------------------------------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING 0 PERSON ----------------------------------------------------------------------------------------------- WITH 10 SHARED DISPOSITIVE POWER 545,830 - ------------------------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 545,830 - ------------------------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [X] - ------------------------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.01% - ------------------------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON OO - -------------------------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT! SCHEDULE 13D
CUSIP No. 85916E103 PAGE 25 OF 31 PAGES - ------------------------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Conroy, L.L.C. - ------------------------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (A) [ ] (B) [X] - ------------------------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* Not Applicable - ------------------------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) [ ] - ------------------------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ------------------------------------------------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF 0 ----------------------------------------------------------------------------------------------- SHARES 8 SHARED VOTING POWER BENEFICIALLY OWNED BY 545,830 ----------------------------------------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING 0 PERSON ----------------------------------------------------------------------------------------------- WITH 10 SHARED DISPOSITIVE POWER 545,830 - ------------------------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 545,830 - ------------------------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [X] - ------------------------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.01% - ------------------------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON OO - -------------------------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT! SCHEDULE 13D
CUSIP No. 85916E103 PAGE 26 OF 31 PAGES - ------------------------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Louis J. Mischianti - ------------------------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (A) [ ] (B) [X] - ------------------------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* Not Applicable - ------------------------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) [ ] - ------------------------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION United States - ------------------------------------------------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF 0 ----------------------------------------------------------------------------------------------- SHARES 8 SHARED VOTING POWER BENEFICIALLY OWNED BY 545,830 ----------------------------------------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING 0 PERSON ----------------------------------------------------------------------------------------------- WITH 10 SHARED DISPOSITIVE POWER 545,830 - ------------------------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 545,830 - ------------------------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [X] - ------------------------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.01% - ------------------------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON IN - -------------------------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT! SCHEDULE 13D
CUSIP No. 85916E103 PAGE 27 OF 31 PAGES - ------------------------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Robert S. Morris - ------------------------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (A) [ ] (B) [X] - ------------------------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* Not Applicable - ------------------------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) [ ] - ------------------------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION United States - ------------------------------------------------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF 0 ----------------------------------------------------------------------------------------------- SHARES 8 SHARED VOTING POWER BENEFICIALLY OWNED BY 545,830 ----------------------------------------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING 0 PERSON ----------------------------------------------------------------------------------------------- WITH 10 SHARED DISPOSITIVE POWER 545,830 - ------------------------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 545,830 - ------------------------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [X] - ------------------------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.01% - ------------------------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON IN - -------------------------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT! SCHEDULE 13D
CUSIP No. 85916E103 PAGE 28 OF 31 PAGES - ------------------------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON James A. Conroy - ------------------------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (A) [ ] (B) [X] - ------------------------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* Not Applicable - ------------------------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) [ ] - ------------------------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION United States - ------------------------------------------------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF 0 ----------------------------------------------------------------------------------------------- SHARES 8 SHARED VOTING POWER BENEFICIALLY OWNED BY 545,830 ----------------------------------------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING 0 PERSON ----------------------------------------------------------------------------------------------- WITH 10 SHARED DISPOSITIVE POWER 545,830 - ------------------------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 545,830 - ------------------------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [X] - ------------------------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.01% - ------------------------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON IN - -------------------------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT! SCHEDULE 13D
CUSIP No. 85916E103 PAGE 29 OF 31 PAGES - ------------------------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON FSI No. 2 Corporation 51-0373138 - ------------------------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (A) [ ] (B) [X] - ------------------------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* WC - ------------------------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) [ ] - ------------------------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ------------------------------------------------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF 0 ----------------------------------------------------------------------------------------------- SHARES 8 SHARED VOTING POWER BENEFICIALLY OWNED BY 545,830 ----------------------------------------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING 0 PERSON ----------------------------------------------------------------------------------------------- WITH 10 SHARED DISPOSITIVE POWER 545,830 - ------------------------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 545,830 - ------------------------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [X] - ------------------------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.01% - ------------------------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON CO - -------------------------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT! SCHEDULE 13D
CUSIP No. 85916E103 PAGE 30 OF 31 PAGES - ------------------------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Fayez Sarofim & Co. - ------------------------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (A) [ ] (B) [X] - ------------------------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* Not Applicable - ------------------------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) [ ] - ------------------------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Texas - ------------------------------------------------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF 0 ----------------------------------------------------------------------------------------------- SHARES 8 SHARED VOTING POWER BENEFICIALLY OWNED BY 545,830 ----------------------------------------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING 0 PERSON ----------------------------------------------------------------------------------------------- WITH 10 SHARED DISPOSITIVE POWER 545,830 - ------------------------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 545,830 - ------------------------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [X] - ------------------------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.01% - ------------------------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON CO, IA - -------------------------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT! SCHEDULE 13D
CUSIP No. 85916E103 PAGE 31 OF 31 PAGES - ------------------------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Fayez Sarofim ###-##-#### - ------------------------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (A) [ ] (B) [X] - ------------------------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* Not Applicable - ------------------------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) [ ] - ------------------------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION - ------------------------------------------------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF 0 ----------------------------------------------------------------------------------------------- SHARES 8 SHARED VOTING POWER BENEFICIALLY OWNED BY 545,830 ----------------------------------------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING 0 PERSON ----------------------------------------------------------------------------------------------- WITH 10 SHARED DISPOSITIVE POWER 545,830 - ------------------------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 545,830 - ------------------------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [X] - ------------------------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.01% - ------------------------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON IN - -------------------------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT! ITEM 1. SECURITY AND ISSUER This Statement on Schedule 13D relates to the beneficial ownership of shares of common stock, par value $.01 per share ("Common Stock"), of Sterling Chemicals Holdings, Inc., a Delaware corporation (the "Issuer" or "Holdings"). The Issuer's principal executive offices are located at 1200 Smith Street, Suite 1900, Houston, Texas 77002. ITEM 2. IDENTITY AND BACKGROUND This Statement on Schedule 13D is being jointly filed by Frank P. Diassi, Hunter Nelson, William C. Oehmig, Frank J. Hevrdejs (collectively, the "Individual Investors"), The Rheney Living Trust, Clarke Rheney, Trustee or Susan O. Rheney, Trustee (the "Trust Investor"), Clipper Capital Associates, L.P., Clipper Equity Partners I, L.P., Clipper/Merchant Partners, L.P., Clipper/Merban, L.P., Clipper/European Re, L.P., CS First Boston Merchant Investments 1995/96, L.P., (collectively, the "Clipper Investors"), FSI No. 2 Corporation, Koch Equities, Inc., Olympus Growth Fund II, L.P. and Olympus Executive Fund, L.P. (collectively, the "Entity Investors" and together with the Individual Investors, the Trustee Investor and the Clipper Investors, the "Investors") and certain additional individuals and entities affiliated with certain of the Clipper Investors and the Entity Investors (the "Additional Reporting Persons"). Each of the Investors, as party to a voting agreement dated August 21, 1996 by and among each of such Investors (the "Voting Agreement"), has agreed to, among other things, certain voting provisions with respect to the election of directors of the Issuer. As a result of the Voting Agreement, the parties thereto may be deemed to be members of a "group" within the meaning of Rule 13d- 5(b)(1) under the Securities Exchange Act of 1934, and accordingly may be deemed to have beneficial ownership of all of the shares of common stock of Holdings subject to the Voting Agreement. However, each of the Investors expressly disclaims (i) membership in such group and (ii) beneficial ownership of such shares of common stock of Holdings, other than shares expressly identified herein as beneficially owned by such Investors. A. The Individual Investors Frank P. Diassi's business address is 6 Commerce Dr., Crawford, NJ 07016, and his present principal occupation or employment is Chairman of the Board of the Issuer. In addition, Mr. Diassi serves as managing general partner of the The Unicorn Group, L.L.C., a private financial organization. The business address of each of Hunter Nelson, Frank J. Hevrdejs and William C. Oehmig is Eight Greenway Plaza, Suite 702, Houston, TX 77046. The present principal occupation or employment of each of Messrs. Nelson, Hevrdejs, Oehmig is as a principal of The Sterling Group, Inc. ("TSG"), a private investment organization engaged in the acquisition and ownership of operating businesses. Each of the Individual Investors is a citizen of the United States. B. The Trust Investor The business address of The Rheney Living Trust, Clarke Rheney or Susan O. Rheney, Trustee, is 2305-C Nantucket, Houston, Texas 77057. The Rheney Living Trust is a revocable trust created under the laws of Texas with Mr. and Mrs. Rheney as beneficiaries. Mr. Rheney's principal occupation or employment is as a consultant with Rheney and Associates. Mrs. Rheney's principal occupation or employment is as principal of TSG. Both Mr. and Mrs. Rheney are citizens of the United States. C. The Clipper Investors Each of Clipper Equity Partners I, L.P. ("Clipper I") and Clipper/Merchant Partners, L.P. ("Clipper II") is a Delaware limited partnership, principally engaged in making investments. Clipper Capital Associates, L.P. ("Clipper Associates"), a Delaware limited partnership principally engaged in making investments, directly or indirectly through other entities, is the sole general partner of Clipper I and Clipper II, with sole voting and dispositive power with respect 32 to the securities held by such partnerships. The business address of each of such partnerships is Tower 49, 12 East 49th Street, New York, NY 10017. Each of Clipper/Merban, L.P. ("Clipper III") and Clipper/European Re, L.P. ("Clipper IV") is a Delaware limited partnership, principally engaged in making investments. Clipper Associates is the sole investment general partner of Clipper III and Clipper IV, having sole voting and dispositive power with respect to securities held by such partnerships. Clipper Curacao, Inc. ("Curacao"), a corporation organized under the laws of the British Virgin Islands, is the sole administrative general partner of Clipper III and Clipper IV, responsible for the administrative functions of such partnerships. The sole director of Curacao is Intercarribean Services Ltd.; Curacao has no officers. The business address of each of Clipper III, Clipper IV and Curacao is De Ruyterkade 62, P.O. Box 812, Curacao, Netherland Antilles. Clipper Capital Associates, Inc. ("Clipper") is the sole general partner of Clipper Associates. Clipper is a Delaware corporation principally engaged in holding partnership interests, and serves as general partner of Clipper Associates. The directors and executive officers of Clipper are Robert B. Calhoun, Jr., who serves as President and Director and Daniel V. Cahillane, who serves as Treasurer, Secretary and Director. Robert B. Calhoun, Jr. and Daniel V. Cahillane are United States citizens. The business address of Clipper, Robert B. Calhoun, Jr. and Daniel V. Cahillane is Tower 49, 12 East 49th Street, New York, NY 10017. CB First Boston Merchant Investments 1995/96, L.P. ("CSFB Investments") is a Delaware limited partnership principally engaged in making investments. Merchant Capital, Inc. ("Merchant Capital"), a Delaware corporation principally engaged in making investments, is the sole general partner of CSFB Investments. The name, business address, principal occupation and citizenship of each director and executive officer of Merchant Capital are listed on Appendix A hereto. The sole stockholder of Merchant Capital is Merchant Holding, Inc., a Delaware corporation. The business address of CSFB Investments and Merchant Capital is Merchant Capital, Inc., Park Avenue Plaza, 55 East 52nd Street, New York, NY 10055. Pursuant to a certain management agreement (the "Management Agreement"), Clipper Capital Partners, L.P. ("Clipper Management"), a Delaware limited partnership principally engaged in managing investments, has sole voting and dispositive power with respect to securities held by CSFB Investments. The Management Agreement has been filed as an exhibit to this Statement on Schedule 13D and is incorporated herein by reference. Clipper Capital Corporation ("Clipper Capital"), a Delaware corporation principally engaged in holding partnership interests is the sole general partner of Clipper Management. The directors and executive officers of Clipper Capital are Robert B. Calhoun, Jr., who serves as President and Director, and Daniel V. Cahillane, who serves as Treasurer, Secretary and Director. the business address of Clipper Management and Clipper Capital is Tower 49, 12 East 49th Street, New York, NY 10017. Robert B. Calhoun, Jr. is the sole stockholder of Clipper, Clipper Capital and Curacao. It is anticipated that Mr. Calhoun will serve as a member of the Board of Directors of Holdings, as the designee of the Clipper Investors pursuant to the Voting Agreement. D. The Entity Investors (a) Koch Koch Equities, Inc. ("Koch Equities"), is a corporation organized under the laws of Delaware principally engaged in making investments. The directors and executive officers of Koch Equities are listed on Appendix B attached hereto. Koch Equities is a wholly-owned subsidiary of Koch Industries, Inc. ("Koch Industries"), a corporation organized under the laws of Kansas, which is a diversified energy company. The executive officers and directors of Koch Industries are listed on Appendix C hereto. The business address for both Koch Equities and Koch Industries is 4111 East 37th Street North, Wichita, KS 67220. 33 (b) FSI No. 2 Corporation FSI No. 2 Corporation ("FSI No. 2") is a corporation organized under the laws of Delaware principally engaged in making investments. The officers and directors of FSI No. 2 are Fayez Sarofim, who serves as president and director, and Raye G. White, who serves as executive vice president, secretary, treasurer and director. FSI No. 2 is a wholly- owned subsidiary of Fayez Sarofim & Co., a corporation organized under the laws of Texas and an investment adviser registered under the Investment Advisers Act of 1940. The executive officers and directors of Fayez Sarofim & Co. are listed on Appendix D hereto. Mr. Sarofim is Chairman of the Board of Directors, President and the beneficial owner of a majority of the capital stock of Fayez Sarofim & Co. The business address of FSI No. 2, Fayez Sarofim & Co., Mr. Sarofim and Ms. White is Two Houston Center, Suite 2907, Houston, TX 77010. Both Mr. Sarofim and Ms. White are citizens of the United States. (c) Olympus Olympus Growth Fund II, L.P. ("Olympus Growth") and Olympus Executive Fund, L.P. ("Olympus Executive") are Delaware limited partnerships principally engaged in making investments. OGP II, L.P., a limited partnership organized under the laws of Delaware ("OGP") is the sole general partner of Olympus Growth. OEF, L.P., a limited partnership organized under the laws of Delaware ("OEF") is the sole general partner of Olympus Executive. The three general partners of both OGP and OEF are LJM, L.L.C. ("LJM"), RSM, L.L.C. ("RSM"), and Conroy, L.L.C. ("Conroy"); each of LJM, RSM and Conroy is a limited liability company organized under the laws of the state of Delaware. The majority owner of LJM is Louis J. Mischianti. The majority owner of RSM is Robert S. Morris. The majority owner of Conroy is James A. Conroy. The business address of Olympus Growth, Olympus Executive, OGP, OEF, LJM, RSM, Conroy and Messrs. Mischianti, Morris and Conroy is Metro Center, One Station Place, Stanford, Connecticut 06902. Messrs. Mischianti, Morris and Conroy are presently employed with Olympus Advisory Partners, Inc. where each is an investment manager; each of Messrs. Mischianti, Morris and Conroy is a citizen of the United States. During the last five years, none of the Investors nor any of the Additional Reporting Persons, has been convicted in any criminal proceedings (excluding traffic violations or similar misdemeanors). During the last five years, none of the Investors nor any of the Additional Reporting Persons, has been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws. ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION On August 21, 1996, STX Acquisition Corp. ("STX") merged with and into Sterling Chemicals, Inc. with the latter, renamed Sterling Chemicals Holdings, Inc., as the surviving corporation (the "Merger"). An aggregate of 4,999,807 shares of Common Stock (the "Rollover Shares") were retained by existing stockholders with the remaining shares converted into the right to receive $12.00 in cash. Concurrently with the consummation of such merger, an equity private placement (the "Equity Private Placement") was effected whereby the Investors purchased shares of STX common stock at a price of $120.00 per share which were then converted into shares of Common Stock at a ratio of 1 for 10. An aggregate of 5,230,624 shares of Common Stock were held by the Investors after the Merger and the Equity Private Placement. Messrs. Oehmig and Hevrdejs both hold Rollover Shares in addition to having purchased shares of Common Stock pursuant to the Equity Private Placement. On August 22, 1996, the Common Stock was suspended from trading on the New York Stock Exchange pending the completion of the de-listing process. Each of the Individual Investors expended personal funds to effect such purchases. Each of the Clipper I, Clipper II, Clipper III, Clipper IV, CSFB Investments, Clipper Associates (with respect to 1,810 shares) and Olympus 34 Growth expended capital contributions from the partners of each respective limited partnership to effect such purchases. Clipper Associates expended funds from affiliates with respect to the purchase of certain shares that it holds as nominee for such affiliates. Koch Equities expended funds provided by its parent company, Koch Industries, from working capital to effect such purchases. FSI No. 2 expended working capital to effect such purchases. ITEM 4. PURPOSE OF TRANSACTIONS Although each of the Investors acquired the shares of Common Stock primarily for investment purposes, by entering into the Voting Agreement, each of such Investors has agreed to vote their respective shares in favor of a nominee to the Board of Directors of Holdings selected by each of Koch Equities and the Clipper Investors. In addition, the Clipper Investors, Olympus, FSI No. 2 and Messrs. Diassi and Hevrdejs intend to acquire 463,654 additional shares (the "Additional Shares") of Common Stock from another stockholder. All such Additional Shares will be subject to the terms and provisions of the Voting Agreement. Other than the planned acquisition of the Additional Shares by the Investors named above, none of the Investors has any other plans, nor has any of them made any other proposals, which relate to or would result in any of the subjects covered in paragraphs (a) through (j) of Item 4 to Schedule 13D. However, each of the Investors reserves the right to acquire additional shares, to dispose of shares or to formulate other purposes, plans or proposal to the extent deemed advisable in light of their respective investment policies, market conditions and other factors. ITEM 5. INTEREST IN SECURITIES OF THE ISSUER Each of the Investors, pursuant to the Voting Agreement, has agreed to, among other things, certain voting provisions with respect to the election of directors. As a result of the Voting Agreement, the parties thereto may be deemed to be members of a "group" within the meaning of Rule 13d-5(b)(1) under the Securities Exchange Act of 1934, and accordingly may be deemed to have beneficial ownership of all of the shares of Common Stock subject to the Voting Agreement. In total, 5,230,624 shares, representing 48.03% of the shares of Common Stock reported to be outstanding by the Company in its Current Report of Form 8-K, dated as of August 21, 1996, are subject to the Voting Agreement. However, each of the Investors expressly disclaims (i) membership in such group and (ii) beneficial ownership of such shares of Common Stock, other than shares expressly identified herein as beneficially owned by such Investors. The Voting Agreement is filed as an exhibit to this Statement on Schedule 13D and is incorporated herein by reference. In addition, the information contained in Item 6 is incorporated herein by reference. A. The Individual Investors (a) Frank P. Diassi and Marianne R. Diassi, as joint tenants with right of survivorship, may each be deemed to directly beneficially own 453,630 shares of Common Stock; such shares constitute approximately 4.17% of the 10,890,837 shares of Common Stock reported to be outstanding by the Issuer in its Current Report on Form 8-K, dated as of August 21, 1996. (b) Frank J. Hevrdejs may be deemed to directly beneficially own 661,961 shares of Common Stock. Of such shares, 597,001 were Rollover Shares and 64,960 were purchased pursuant to the Equity Private Placement. Such shares in the aggregate constitute approximately 6.08% of the 10,890,837 shares of Common Stock reported to be outstanding by the Issuer in its Current Report on Form 8-K, dated as of August 21, 1996. (c) Hunter Nelson may be deemed to directly beneficially own 52,410 shares of Common Stock; such shares constitute approximately 0.48% of the 10,890,837 shares of Common Stock reported to be outstanding by the Issuer in its Current Report on Form 8-K, dated as of August 21, 1996. (d) William C. Oehmig and Margaret W. Oehmig, as tenants in common, may each be deemed to directly beneficially own 345,963 shares of Common Stock. Of such shares, 312,623 were Rollover Shares and 33,340 were purchased pursuant to the Equity Private Placement. Such shares constitute approximately 3.18% of the 10,890,837 shares of Common Stock reported to be outstanding by the Issuer in its Current Report on Form 8-K, dated as of August 21, 1996. B. The Trustee Investor The Rheney Living Trust, and Susan O Rheney and Clarke Rheney as trustees of such trust, may each be deemed to directly beneficially own 41,670 shares of Common Stock; such shares constitute approximately 35 0.38% of the 10,890,837 shares of Common Stock reported to be outstanding by the Issuer in its Current Report on Form 8-K, dated as of August 21, 1996. C. The Clipper Investors (a) (i) Clipper I may be deemed to directly beneficially own 324,730 shares of Common Stock; Clipper II may be deemed to directly beneficially own 367,870 shares of Common Stock; Clipper III may be deemed to directly beneficially own 432,980 shares of Common Stock; Clipper IV may be deemed to directly beneficially own 216,490 shares of Common Stock; CSFB Investments may be deemed to directly beneficially own 64,460 shares of Common Stock; and Clipper Associates may be deemed to directly beneficially own 1,810 shares of Common Stock and indirectly beneficially own 174,990 shares of Common Stock by virtue of its status as nominee under certain nominee agreements, pursuant to which it exercises sole voting and dispositive power with respect to such shares of common stock of Holdings; in the aggregate, such 1,583,330 shares of Common Stock deemed to be beneficially owned by such entities constitute approximately 14.54% of the 10,890,837 shares of Common Stock reported to be outstanding by the Issuer in its Current Report on Form 8-K, dated as of August 21, 1996. (ii) By virtue of its status as the sole general partner of Clipper I and Clipper II, and its status as sole investment general partner of Clipper III and Clipper IV, having sole voting and dispositive power with respect to the shares of Common Stock held by each of such partnerships, Clipper Associates may be deemed to be, for purposes of this Schedule 13D, the indirect beneficial owner of all of the 1,342,070 shares of Common Stock deemed to be directly beneficially owned, in the aggregate, by Clipper I, Clipper II, Clipper III and Clipper IV. (iii) By virtue of its status as the sole general partner of Clipper Associates, Clipper may be deemed to be, for purposes of this Schedule 13D, the beneficial owner of all of the 1,518,870 shares of Common Stock deemed to be directly and indirectly beneficially owned by Clipper Associates. (iv) By virtue of its exercising sole voting and dispositive power with respect to the Shares directly beneficially owned by CSFB Investments, Clipper Management may be deemed to be, for purposes of this Schedule 13D, the beneficial owner of all of the 64,460 shares of Common Stock deemed to be directly beneficially owned by CSFB Investments. (v) By virtue of its status as the sole general partner of Clipper Management, Clipper Capital may be deemed to be, for purposes of this Schedule 13D, the beneficial owner of all of the 64,460 shares of Common Stock deemed to be indirectly beneficially owned by Clipper Management. (vi) By virtue of his ownership of all of the outstanding capital stock of Clipper and his status as President and Director, Robert B. Calhoun, Jr. may be deemed to be, for purposes of this Schedule 13D, the beneficial owner of all of the 1,518,870 shares of Common Stock deemed to be indirectly beneficially owned by Clipper. In addition, by virtue of his ownership of all of the outstanding capital stock of Clipper Capital and his status as President and Director, Robert B. Calhoun, Jr. may be deemed to be, for purposes of this Schedule 13D, the beneficial owner of all of the 64,460 shares of Common Stock indirectly beneficially owned by Clipper Capital. (b) Clipper Associates holds 174,990 shares of Common Stock as nominee for individuals who have the right to receive, or the power to direct the receipt of, dividends from, or the proceeds from the sale of, such securities. The form of nominee agreement (the "Nominee Agreement") has been filed as an exhibit to this Statement on Schedule 13D and is incorporated herein by reference. D. Koch 36 (a) (i) Koch Equities may be deemed to directly beneficially own 1,000,000 shares of Common Stock; such shares constitute approximately 9.18% of the 10,890,837 shares of Common Stock reported to be outstanding by the Issuer in its Current Report on Form 8-K, dated as of August 21, 1996. (ii) Koch Industries, by virtue of its status as the owner of 100% of the outstanding capital stock of Koch Equities, may be deemed to be, for the purposes of this Schedule 13D, the beneficial owner of all of the 1,000,000 shares of common stock of Holdings deemed to directly beneficially owned by Koch Equities. D. FSI No. 2 Corporation (a) (i) FSI No. 2 may be deemed to directly beneficially own 545,830 shares of Common Stock; such shares constitute approximately 5.01% of the 10,890,837 shares of Common Stock reported to be outstanding by the Issuer in its Current Report on Form 8-K, dated as of August 21, 1996. (ii) Fayez Sarofim & Co., by virtue of its status as the owner of 100% of the outstanding capital stock of FSI No. 2, may be deemed to be, for the purposes of this Schedule 13D, the beneficial owner of all of the 545,830 shares of Common Stock deemed to be directly beneficially owned by FSI No. 2. (iii) Fayez Sarofim, by virtue of his status as the owner of a majority of the outstanding capital stock of Fayez Sarofim & Co. may be deemed to be, for the purposes of this Schedule 13D, the beneficial owner of all of the 545,830 shares of Common Stock deemed to be indirectly beneficially owned by Fayez Sarofim & Co. E. Olympus (a) (i) Olympus Growth may be deemed to directly beneficially own 539,160 shares of Common Stock; such shares constitute approximately 4.95% of the 10,890,837 shares of Common Stock reported to be outstanding by the Issuer in its Current Report on Form 8-K, dated as of August 21, 1996. (ii) Olympus Executive may be deemed to directly beneficially own 6,670 shares of Common Stock; such shares constitute approximately 0.06% of the 10,890,837 shares of Common Stock reported to be outstanding by the Issuer in its Current Report on Form 8-K, dated as of August 21, 1996. (iii) OGP, by virtue of its status as the sole general partner of Olympus Growth, may be deemed to be, for purposes of this Schedule 13D, the beneficial owner of all of the 539,160 shares of Common Stock deemed to be directly beneficially owned by Olympus Growth. (iv) OEF, by virtue of its status as the sole general partner of Olympus Executive, may be deemed to be, for purposes of this Schedule 13D, the beneficial owner of all of the 6,670 shares of Common Stock deemed to be directly beneficially owned by Olympus Executive. (v) Each of LJM, RSM and Conroy, by virtue of their status as general partners of OGP and OEF, may be deemed to be, for purposes of this Schedule 13D, the beneficial owner of all of the aggregate 545,583 shares of Common Stock deemed to be indirectly beneficially owned by OGP and OEF. (vi) Each of Louis J. Mischianti, Robert S. Morris and James A. Conroy, by virtue of their status as the majority owner of LJM, RSM and Conroy, respectively, may be deemed to be, for purposes of this Schedule 13D, the beneficial owner of all of the aggregate 545,583 shares of Common Stock deemed to be indirectly beneficially owned by LJM, RSM and Conroy, respectively. Paragraphs (c) and (e) are inapplicable with respect to all of the Investors and the Additional Reporting Persons. ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER 37 Each of the Investors is a party to the Voting Agreement, pursuant to which, such investors have agreed to, among other things, vote their respective shares of Common Stock in favor of a nominee to the Board of Directors of Holdings selected by each of Koch Equities and the Clipper Investors. The rights of Koch Equities and the Clipper Investors to select such nominees are terminated under the terms and provisions of the Voting Agreement in the event that their ownership of Common Stock represents less than 5% of the total number of outstanding shares of Common Stock. Each of the Investors and certain additional stockholders of the Issuer have entered into a Stockholders Agreement, dated as of August 21, 1996 (the "Stockholders Agreement"), which, among other things, restricts the transfer of shares of Common Stock held by such stockholders (with certain exceptions) unless such shares are first offered to the Issuer's employee stock ownership plan, Holdings and finally to the other parties to the Stockholders Agreement. Each of the Investors and certain additional stockholders of the Issuer have entered into a Tag-Along Agreement, dated August 21, 1996 (the "Tag-Along Agreement"), which, among other things, provides that if any of the parties thereto proposes to transfer, sell or otherwise dispose of an aggregate of 51% or more of the Common Stock issued and outstanding at the time of such proposed transfer, all of the parties to the Tag-Along Agreement will have the right to participate in such transfer on a pro rata basis and on the same terms and conditions. Each of the Clipper Investors and the Entity Investors have entered into a Registration Rights Agreement, dated August 21, 1996 (the "Registration Rights Agreement"), pursuant to which, among other things, for a period of ten (10) years each of the parties thereto is entitled, subject to certain limitations, to include their shares of Common Stock in certain registrations initiated by the Issuer under the Securities Act of 1933, as amended. The Registration Rights Agreement also provides that the parties thereto may require the Issuer to effect additional "demand" registrations of all or any part of such parties' stockholdings, and in addition, contains other customary provisions. Clipper Associates and certain individuals are party to Nominee Agreements which grant Clipper Associates sole voting and dispositive power with respect to the shares of Common Stock held by Clipper Associates, as nominee for such individuals, pursuant to such agreements. Clipper Management, Merchant Capital, Inc. and CSFB Investments are party to the Management Agreement which grants Clipper Management sole voting and dispositive power with respect to the shares of Common Stock directly beneficially owned by CSFB Investments. The responses to Item 2, Item 3 and Item 4, the Merger Agreement, the Voting Agreement, the Stockholders Agreement, the Tag-Along Agreement, the Registration Rights Agreement, the Nominee Agreement and the Management Agreement are incorporated herein by reference. ITEM 7. MATERIAL FILED AS EXHIBITS The following are filed herewith as Exhibits to this Schedule 13D: A. Voting Agreement, dated as of August 21, 1996, by and among the parties listed therein, filed with the Commission as Exhibit 4.12 to the Issuer's Registration Statement on Form S-1 (File No.333-04343), is incorporated herein by reference. B. Stockholders Agreement, dated as of August 21, 1996, by and among the parties listed therein, filed with the Commission as Exhibit 4.10 to the Issuer's Registration Statement on Form S-1 (File No. 333-04343), is incorporated herein by reference. C. Registration Rights Agreement, dated as of August 21, 1996, by and among the parties listed therein, filed with the Commission as Exhibit 4.11 to the Issuer's Registration Statement on Form S-1 (File No. 333-04343), is incorporated herein by reference. D. Tag-Along Agreement, dated as of August 21, 1996, by and among the parties listed therein, filed with the Commission as Exhibit 4.13 to the Issuer's Registration Statement on Form S-1 (File No. 333-04343), is incorporated herein by reference. E. Form of Nominee Agreement, by and among Clipper Associates and certain individuals. F. Management Agreement, dated as of December 29, 1995, by and among Clipper Capital Partners, L.P., Merchant Capital, Inc. and CS First Boston Merchant Investments 1995/96, L.P. 38 SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. September 3, 1996 FRANK P. DIASSI AND MARIANNE R. DIASSI, JOINT TENANTS WITH RIGHT OF SURVIVORSHIP /s/ FRANK P. DIASSI _______________________________ Frank P. Diassi /s/ MARIANNE R. DIASSI _______________________________ Marianne R. Diassi 39 SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. September 3, 1996 /s/ HUNTER NELSON ________________________________ Hunter Nelson 40 SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. September 3, 1996 WILLIAM C. OEHMIG AND MARGARET W. OEHMIG, TENANTS-IN-COMMON /s/ WILLIAM C. OEHMIG _________________________________ William C.Oehmig /s/ MARGARET W. OEHMIG _________________________________ Margaret W. Oehmig 41 SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. September 3, 1996 /s/ FRANK J. HEVRDEJS _________________________________ Frank J. Hevrdejs 42 SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. September 3, 1996 THE RHENEY LIVING TRUST By: Susan O. Rheney, as Trustee /s/ SUSAN O. RHENEY _________________________________ Susan O. Rheney 43 SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. September 3, 1996 CLIPPER CAPITAL ASSOCIATES, INC. CLIPPER CAPITAL CORPORATION CLIPPER CAPITAL ASSOCIATES, L.P. CLIPPER CAPITAL PARTNERS, L.P. By: Clipper Capital Associates, Inc. By: Clipper Capital Corporation its General Partner its General Partner CLIPPER EQUITY PARTNERS I, L.P. CS FIRST BOSTON MERCHANT BY: Clipper Capital Associates, L.P. INVESTMENTS 1995/96, L.P. its General Partner By: Clipper Capital Partners, L.P. Attorney-in-Fact Clipper Capital Associates, Inc.: BY: Clipper Capital Corporation Partner its General Partner its General Partner CLIPPER/MERCHANT PARTNERS, L.P By: /s/ DANIEL V. CAHILLANE By: Clipper Capital Corporation ________________________________ its General Name: Daniel V. Cahillane Title: Secretary and Treasurer By: Clipper Capital Associates, L.P. its General Partner CLIPPER/MERBAN, L.P. By: Clipper Associates, L.P. its General Partner By: Clipper Capital Associates, Inc. its General Partner CLIPPER/EUROPEAN RE, L.P. By: Clipper Associates, Inc. its General Partner By: Clipper Capital Associates, Inc. its General Partner 44 SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. September 3, 1996 /s/ ROBERT B. CALHOUN, JR. _________________________________ Robert B. Calhoun, Jr. 45 SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. September 3, 1996 FSI No. 2 Corporation By: /s/ RAYE G. WHITE ----------------------- Name: Raye G. White Title: Executive Vice President 46 SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. September 3, 1996 FAYEZ SAROFIM & CO. /s/ RAYE G. WHITE By:_______________________________ Name: Raye G. White Title: Executive Vice President 47 SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. September 3, 1996 /s/ FAYEZ SAROFIM _________________________________ Fayez Sarofim 48 SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. September 3, 1996 KOCH EQUITIES, INC. /s/ JOHN PITTENGER By: _________________________________ Name: John Pittenger Title: President 49 SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. September 3, 1996 KOCH INDUSTRIES, INC. By: /s/ JOHN PITTENGER _____________________________ Name: John Pittenger Title: Vice President 50 SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. September 3, 1996 OLYMPUS GROWTH FUND II, L.P. By: OGP II, L.P., its General Partner By: LJM, L.L.C. its General Partner By: /s/ LOUIS J. MISCHIANTI ___________________ Name: Louis J. Mischianti Title: Member 51 SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. September 3, 1996 OLYMPUS EXECUTIVE FUND, L.P. By: OEF, L.P., its General Partner By: LIM, L.L.C. its General Partner /s/ LOUIS J. MICHIANTI By: ___________________________________ Name: Louis J. Mischianti Title: Member 52 SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. September 3, 1996 OGP II, L.P. By: Conroy, L.L.C. its General Partner /s/ JAMES A. CONROY By:______________________________ Name: James A. Conroy Title: Member 53 SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. September 3, 1996 OEF, L.P. By: Conroy, L.L.C. its General Partner /s/ JAMES A. CONROY By:______________________________ Name: James A. Conroy Title: Member 54 SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. September 3, 1996 LJM, L.L.C. /s/ LOUIS J. MISCHIANTI By:_______________________________ Name: Louis J. Mischianti Title: Member 55 SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. September 3, 1996 RSM, L.L.C. /s/ ROBERT S. MORRIS By: _____________________________ Name: Robert S. Morris Title: Member 56 SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. September 3, 1996 CONROY, L.L.C. /s/ JAMES A. CONROY By: _____________________________ Name: James A. Conroy Title: Member 57 SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. September 3, 1996 /s/ LOUIS J. MISCHIANTI _________________________________ Louis J. Mischianti 58 SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. September 3, 1996 /s/ ROBERT S. MORRIS __________________________________ Robert S. Morris 59 SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. September 3, 1996 /s/ JAMES A. CONROY _________________________________ James A. Conroy 60 APPENDIX A
Directors and Executive Officers of Merchant Capital, Inc. John M. Hennessy President and Chairman of the Board Allen D. Wheat Director Richard B. Thornburghj Vice President and Director David A. DeNunzio Vice President and Director John S. Harrison Vice President and Director Mark Patterson Vice President and Director Charles Ward, III Vice President and Director Agnes F. Reicke Vice President and Secretary Linda H. Hanauer Vice President and Treasurer Carlos Onis Vice President and Controller Nancy G. Farese Vice President Kenneth J. Lohson Vice President and Director of Taxes
Each of the foregoing persons is a United States citizen, except Agnes F. Reicke, who is a citizen of Switzerland. The principal business address of each of such persons is CS First Boston Corporation, Park Avenue Plaza, New York, New York 10055, and the present principal occupation or employment of each such person is serving as an employee of CS First Boston Corporation. A-1 APPENDIX B Directors and Executive Officers of Koch Equities, Inc. and their respective positions with Koch Industries, Inc.
John C. Pittenger President and Director Vice President, Koch Domestic Capital Services R. Allan Allford Vice President Managing Director, Koch Domestic Capital Services George B. Gregory Vice President Managing Director, Koch Domestic Capital Services Diana M. Knigge Vice President Managing Director, Koch Domestic Capital Services David A. Tolson Vice President Managing Director, Koch Domestic Capital Services H. Allan Caldwell Secretary Associate General Counsel F. Lynn Markel Treasurer Executive VP -- Finance and Administration John H. Bomgardner II Director Associate General Counsel Paul W. Brooks Director Senior VP -- Capital Services Group
Each of the foregoing persons is a citizen of the United States. The principal business address of each of such persons is 4111 E. 37th Street North, Wichita, Kansas 67220. The present principal occupation or employment of each such person is the position each holds with Koch Industries, Inc. listed in the far right-hand column above. B-1 APPENDIX C
Directors and Executive Officers of Koch Industries, Inc. Charles G. Koch Chairman of the Board of Directors and CEO William W. Hanna President, COO and Director F. Lynn Markel Executive VP--Finance and Administration, Treasurer and Director Donald L. Cordes Executive VP, Special Counsel and Director David H. Koch Executive VP-Chemical Technology Group and Director C.C. McCambell Executive VP - Hydrocarbon Group and Director Joseph W. Moeller Executive VP - International and Director S.V. Varner Consultant and Director Lawrence R. Purtell Senior VP, General Counsel and Secretary Diana Kidd Controller E. Pierce Marshall Director
Each of the foregoing persons is a citizen of the United States. The principal business address of each of such persons, except for Mr. Marshall, is 4111 East 37th Street North, Wichita, Kansas 67220, and the present principal occupation or employment of each such person, except for Mr. Marshall, is as listed above. Mr. Marshall's principal occupation or employment is as the president emeritus of Marshall Petroleum, Inc.; his principal business address is 7600 West Tidwell, Suite 800, Houston, Texas 77040. C-1 APPENDIX D
Directors and Officers of Fayez Sarofim & Co. Fayez Sarofim President and Director Raye G. White Executive VP, Secretary, Treasurer and Director William Kline McGee, Jr. Senior Vice President Ralph Bowman Thomas Senior Vice President Russell Morris Frankel Senior Vice President Charles Edmund Sheedy Senior Vice President Russell Brian Hawkins Senior Vice President Alice M. Youngblood Vice President Nancy Vickers Daniel Vice President James Aloysius Reynolds Vice President
Each of the foregoing persons is a citizen of the United States. The principal business address of each of such persons is Two Houston Center, Suite 2907, Houston, Texas, 77010, and the present principal occupation or employment of each such person is as listed above. D-1 EX-1 2 AGREEMENT NOMINEE AND STOCKHOLDERS' AGREEMENT Nominee and Stockholders' Agreement (the "Agreement"), dated as of ____ _________, 1996, by and between Clipper Capital Associates, L.P., a Delaware limited partnership (the "Nominee") and ________________ (the "Individual"). WHEREAS, pursuant to that certain Subscription Agreement, dated as of the date hereof, between STX Acquisition Corp. (the "Company") and the Individual (the "Subscription Agreement"), the Individual will acquire that number of shares of the Company's common stock, par value $.01 per share (the "Common Stock") set forth on Schedule A attached hereto (the "Shares"); and WHEREAS, the Individual will direct that the Shares be issued in the name of the Nominee, as record owner, on behalf of the Individual;and WHEREAS, the Nominee and the Individual desire to enter into this Agreement in order to set forth their understanding with respect to certain voting arrangements, transfer rights and other matters. NOW, THEREFORE, in consideration of the mutual promises contained in this Agreement and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties to this Agreement agree as follows: ARTICLE I. Corporate Governance -------------------- SECTION 1.01. Appointment of Nominee. The Individual shall direct, in the Subscription Agreement, that the Shares be issued in the name of the Nominee, as record owner. The Shares shall be held by the Nominee as the Individual's nominee. The Nominee shall be the record owner of the Shares. Any cash received by the Nominee on behalf of the Shares, in the form of a dividend or otherwise, shall be sent to the Individual as promptly as practicable. SECTION 1.02. Irrevocable Proxy. The Individual hereby grants to, and is deemed to have executed in favor of, the Nominee an irrevocable proxy to vote all of the Shares at all meetings of the security holders of the Company or to give written consents in lieu of voting the Shares, on all matters submitted to security holders for vote, including but not limited to the election of directors of the Company. The proxy granted hereby to the Nominee shall be irrevocable and shall be deemed to be coupled with an interest. ARTICLE II. Transferability --------------- SECTION 2.01. General. Any purported Transfer (as defined below) of any Shares in violation of the provisions of this Agreement shall be void and the purported transferee shall not be entitled to vote or receive any distributions with respect to Shares so transferred. Any Transfer of Shares by the Individual which is otherwise in accordance with this Agreement must also be in accordance with the Sterling Chemicals Holdings, Inc. Stockholders Agreement, including the Tag-Along Agreement attached as Exhibit B thereto, and federal and applicable state securities laws. As used in this Agreement, the word "Transfer" means any event constituting a sale, bequest, exchange, distribution, assignment, gift, pledge, hypothecation, mortgage, the creation of any security interest in, lien upon, or other encumbrance, and any other transfer or disposition of any kind, whether voluntary or involuntary, affecting record or beneficial ownership in or possession of any of the Shares. SECTION 2.02 Restriction on Disposition; Tag-along; Bring-along. (a) Except as set forth below, the Individual shall not Transfer any Shares, directly or indirectly, including, without limitation, any Transfer to a spouse, family-owned partnership or trust, without the prior written consent of the Nominee. The provisions of this Section 2.02(a) shall not apply to any Transfer by the Individual, upon the death of the Individual, of Shares to the Individual's heirs, executors, administrators or distributees provided that such persons agree to be bound by this Agreement to the same extent as the Individual. (b) In the event that the Nominee shall propose to sell all or any portion of the Common Stock of the Company owned or otherwise held by the Nominee, the Nominee shall have the option, exercisable upon ten (10) days'prior written notice of such proposed sale (which notice shall include all of the material terms and conditions of such proposed sale and shall identify the proposed purchaser(s)) to require the Individual to sell all or the same portion, as the case may be, of the Shares to such proposed purchaser(s) at the same time and upon the same terms and conditions as the Nominee sells the Common Stock. 2 (c) In the event that the Nominee shall propose to sell all the Common Stock of the Company held by the Nominee and the Nominee has determined not to exercise its rights under Section 2.02(b) hereof, the Nominee shall provide the Individual with not less than ten (10) days' prior written notice of such proposed sale (which notice shall include all of the material terms and conditions of such proposed sale, and shall identify the proposed purchaser(s)). The Individual shall thereupon have the option, exercisable by written notice delivered to the Nominee within five (5) days following the receipt by the Individual of the notice, to require the proposed purchaser(s) to also purchase from the Individual all of the Shares owned by the Individual and held by the Nominee at the same time and upon the same terms and conditions as the Nominee sells the Common Stock. If the Individual shall so elect, the Nominee shall either (i) arrange for the proposed purchaser or purchasers to purchase all of the Individual's Shares at the same time and upon the same terms and conditions at which the Nominee sells its Common Stock or (ii) not effect the proposed sale to such purchaser or purchasers. (d) If the Individual sells the Shares pursuant to Section 2.02(b) or (c) above, the Nominee shall deliver at the closing of such sale, documents in form satisfactory to transfer the Shares to the purchaser thereof, against payment by such purchaser of the purchase price therefor, which purchase price shall be paid to the Individual by the Nominee within five business days after receipt thereof. ARTICLE III. Miscellaneous ------------- SECTION 3.01. After-Acquired Shares. All of the provisions of this Agreement shall apply to all of the securities of the Company now owned or which may be issued or Transferred hereafter to the Individual in consequence of any additional issuance, purchase, exchange, conversion, or reclassification of securities, corporate reorganization, or any other form of recapitalization, consolidation, merger, share split or share dividend, or which are acquired by the Individual in any other manner (all of which shall be deemed to be "Shares" hereunder). The Nominee shall hold all such after-acquired property as the Individual's nominee. Upon any Transfer or acquisition of Shares, Schedule A shall be amended to reflect such Transfer or acquisition of Shares. SECTION 3.02. Specific Performance. The parties hereto acknowledge that irreparable damage would result if this agreement is not specifically enforced and that, therefore, the rights and obligations of the parties under this agreement may be enforced by a decree of specific performance issued by a court of competent jurisdiction, and appropriate injunctive relief may be applied for and granted in connection therewith. Such remedies 3 shall, however, be cumulative and not exclusive and shall be in addition to any other remedies which any party may have under this Agreement or otherwise. SECTION 3.03 Term of Agreement. This Agreement shall become effective on the date hereof. This Agreement, except for section 3.05 hereof, shall terminate on the date which is the earlier of: (i) the date on which the Nominee and the Individual shall by mutual consent in writing agree to such termination; (ii) the date on which the Nominee transfers the Shares to the Individual, (iii) the date of disposition of all Shares subject to this Agreement and (iv) the date on which the Nominee or an affiliate of Nominee no longer acts as Manager for Clipper/Merchant Partners, L.P. SECTION 3.04. Investment Representations. The Individual represents and warrants that he acquired the Shares for his own account, for investment only and not with a view to the sale or distribution thereof. The Individual recognizes that the Shares have not been registered under the Securities Exchange Act of 1993, as amended (the "Act"), in reliance upon an exemption from such registration, and agrees that he will not Transfer the Shares in the absence of an effective registration statement covering such Shares under the Act, unless such Transfer is exempt from registration and is not prohibited by the terms of this Agreement. SECTION 3.05 Exculpation and Indemnification. (a) General. Neither the Nominee nor its officers, directors, partners, shareholders or employees ("Indemnified Parties"), shall be liable, in damages or otherwise, to the Individual for any act or omission performed or omitted by any of them arising out of or in connection with this Agreement, unless such act or omission results from the Indemnified Party's gross negligence or willful or criminal misconduct. Each Indemnified Party shall be a third party beneficiary of this Agreement solely for purposes of this Section 3.05(a) The Individual shall reimburse the Nominee on demand for, and shall indemnify and hold the Nominee harmless against and with respect to, any and all loss, liability, damage or expense (including, without limitation, reasonable attorneys' fees and costs) that the Nominee may suffer or incur in connection with the entering into this Agreement and performing its obligations hereunder or otherwise in connection therewith, except to the extent such loss, liability, damage or expense arises from the willful misconduct or gross negligence of the Nominee. (b) Tax. If the Nominee or any custodian, broker, agent or other party engaged with respect to any transaction involving the Shares is required by law to make any payment on behalf of the Individual with respect to taxes (including, without limitation, federal witholding taxes), then the Individual shall indemnify and hold harmless the Nominee, its officers and employees, and any such custodian, broker, agent or other party (each of which shall be a third-party beneficiary of this Agreement solely for purposes of this 4 section) for the entire amount of such payment (including interest and penalties thereon and expenses related thereto). The proceeds of any disposition of Shares may be offset against the Individual's obligation to indemnify the Nominee or any other party under this section. SECTION 3.06. Expenses. The Nominee shall be entitled to receive from the Individual all reasonable expenses which are incurred by the Nominee in connection with the Shares. The proceeds of any disposition of Shares may be offset against the Individual's obligation to reimburse the Nominee under this section. SECTION 3.07. No Investment Advice. The individual hereby acknowledges and agrees that the Nominee has not, and will not provide in connection with this Agreement or otherwise, investment advice with respect to the Individual's investment in the Company or the Shares. SECTION 3.08. Financial and Other Information. The Nominee shall cause a copy of all periodic financial reports and other disclosure provided to it by the Company to be forwarded to the Individual at his or her address set forth in Schedule A hereto. SECTION 3.09. Successors and Assigns. All of the terms and provisions of this Agreement shall inure to the benefit of and be binding upon the parties hereto and their respective successors and assigns; provided, however, no party hereto may assign this Agreement or its rights or obligations hereunder without the prior written consent of the other party hereto. SECTION 3.10. Entire Agreement. This Agreement constitutes the complete understanding and agreement among the parties hereto with respect to the subject matter hereof and can be amended, supplemented or changed, and any provision hereof can be waived, only by written instrument making specific reference to this Agreement signed by the party against whom enforcement of any such amendment, supplement, modification or waiver is sought. SECTION 3.11. Approvals and Consents. The Individual hereby agrees, for himself, his heirs and legal representative(s), to prepare, execute and deliver or cause to be prepared, executed and delivered such further instruments and documents, and to take such other actions as may be reasonably required to more effectively carry out the intent and purposes of this Agreement and the transactions contemplated hereby. SECTION 3.12. Notices. All notices, requests, demands and other communications which are required or may be given hereunder shall be in writing and shall be deemed to have been duly given to a party if delivered personally or mailed by certified or registered mail, return receipt requested, postage prepaid, or if given by telex or other 5 telegraphic means, to such party at his or its address set forth in Schedule A hereto. Any such notice shall for all purposes of this Agreement be deemed to have been given, and received by the addressee, on the date of such personal delivery or telex or telegraphic notice or five (5) days after any such mailing thereof. SECTION 3.13 Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware. SECTION 3.14 Severability. If any provision of this Agreement or the application of any such provision to any person or circumstances shall be held invalid by a court of competent jurisdiction, the remainder of this Agreement, including the remainder of the provision held invalid, or the application of such provision to persons or circumstances other than those as to which it is held invalid, shall not be affected thereby. SECTION 3.15 Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original, but all of which together shall constitute one and the same instrument. SECTION 3.16 Headings. All section headings herein are for convenience of reference only and are not part of this Agreement, and no construction or inference shall be derived therefrom. IN WITNESS WHEREOF, the parties hereto have hereunto set their hands as of the date first set forth above. [INDIVIDUAL] _____________________________________ CLIPPER CAPITAL ASSOCIATES, L.P By: CLIPPER CAPITAL ASSOCIATES, INC., its General Partner By: ________________________________ Name: Title: 6 EX-2 3 MANAGEMENT AGREEMENT MANAGEMENT AGREEMENT (Clipper Program) MANAGEMENT AGREEMENT (the "Agreement"), dated as of the 29th day of December, 1995, by and among CLIPPER CAPITAL PARTNERS, L.P., a Delaware limited partnership ("Capital Partners"), MERCHANT CAPITAL, INC., a Delaware corporation ("Merchant") and CS FIRST BOSTON MERCHANT INVESTMENTS 1995/96, L.P., a Delaware limited partnership (the "MD Partnership"). WHEREAS, Merchant is the limited partner, CS First Boston Finders I, L.P., a Delaware limited partnership, is the special limited partner and Clipper Capital Associates, L.P., a Delaware limited partnership, is the general partner (in such capacity, the "Program General Partner") of Clipper/Merchant Partners, L.P., a Delaware limited partnership (the "Program Partnership"), organized pursuant to the Second Amended and Restated Agreement of Limited Partnership, entered into as of August 1, 1994, as amended by the Amendment to Second Amended and Restated Agreement of Limited Partnership of Clipper/Merchant Partners, L.P., dated as of June 30, 1995, and as further amended by the Second Amendment to the Second Amended and Restated Agreement of Limited Partnership of Clipper/Merchant Partners, L.P., dated as of December 29, 1995, as hereinafter described (the "Program Partnership Agreement"); WHEREAS, the Program Partnership, Merchant and Capital Partners have entered into the Amended and Restated Clipper/Merchant Partners Management Agreement, dated as of August 1, 1994, as amended by the Amendment to Amended and Restated Clipper/Merchant Partners Management Agreement, dated as of June 30, 1995, and as further amended by the Second Amendment to the Amended and Restated Clipper/Merchant Partners Management Agreement, dated as of December 29, 1995 (the "Program Management Agreement"), whereby Capital Partners provides certain management and support services to the Program Partnership and Merchant; WHEREAS, the Program Partnership Agreement has been amended by an amendment dated as of December 29, 1995, whereby certain investment opportunities presented to the Program Partnership shall be presented to the MD Partnership, of which Merchant is the general partner, for the making of investments therein on a side-by-side basis with the Program Partnership (each such investment, an "MD Investment"); and WHEREAS, Capital Partners wishes to provide to Merchant, as general partner of the MD Partnership, the discretionary investment management services with regard to the MD Investments that it provides to the Program Partnership pursuant to the Program Management Agreement and Merchant, as general partner of the MD Partnership, wishes to receive such management services with respect to the MD Investments; NOW THEREFORE, the parties hereto agree as follows (all capitalized terms not defined herein shall have the meanings specified in the Program Partnership Agreement): 1. Voting of MD Investments. Capital Partners shall have sole discretionary authority to exercise any and all voting rights attaching to the MD Partnership's interests in the MD Investments on behalf of the MD Partnership. Capital Partners shall exercise such voting rights at the same time and in the same manner as for the Program Partnership under the Program Management Agreement. 2. Disposition of MD Investments. Capital Partners shall have sole discretionary authority to dispose of or liquidate the MD Partnership's interests in the MD Investments on behalf of the MD Partnership, and such MD Partnership's interests shall not be disposed of or liquidated by the MD Partnership unless Capital Partners consents to such disposition or liquidation. Capital Partners shall dispose of or liquidate such interests at the same time and in the same manner, on a pro rata basis, as for the Program Partnership under the Program Management Agreement. 3. No Fees. Capital Partners shall not receive a fee or other compensation from the MD Partnership for its services hereunder and acknowledges that part of the fee it receives from Merchant pursuant to the Program Management Agreement is attributable to the MD Partnership. 4. Indemnification and Ecculpation. (a) The MD Partnership shall, to the fullest extent permitted by applicable law, indemnify and hold harmless Capital Partners, the Program General Partner, their affiliates and their respective officers, directors, partners, shareholders, consultants (as determined by Capital Partners) or employees (collectively the "Indemnitees") against all claims, liabilities and expenses of whatever nature ("Claims") relating to activities undertaken in connection with this Agreement or the MD Partnership, including, without limitation, serving as a director of any Portfolio Company (including Claims for indemnification of other Persons arising out of services rendered by such other Persons to any such Indemnitee but solely to the extent that such Persons have been indemnified by Capital Partners, the Program General Partner or their Affiliates in connection with their provision of such services and the provision of indemnification is customary in connection therewith or otherwise in the best interest of the MD Partnership), including, but not limited to, amounts paid in satisfaction of judgments, in compromise or as fines and penalties, and counsel fees and expenses (including out-of-pocket expenses of internal counsel) incurred in connection with the defense or disposition of any action, suit or other proceeding, whether civil or criminal, before any court or administrative body in which such Indemnitee may be or may have been involved, as a party or otherwise, or with which such Indemnitee may be or may have been threatened, while acting in his capacity as an officer, director, consultant, partner, shareholder or employee of 2 the Program General Partner or Capital Partners or any of their respective Affiliates except with respect to any matter as to which such Indemnitee shall have been adjudicated to have been grossly negligent or engaged in willful or criminal misconduct. An Indemnitee shall be entitled to rely on the advice of counsel, public accountants or other independent experts experienced in the matter at issue, and any accountants or other independent experts experienced in the matter at issue, and any act or omission of such Indemnitee pursuant to such advice shall in no event subject such Indemnitee to liability to the MD Partnership or any partner thereof and, accordingly, such reliance by an Indemnitee shall not constitute gross negligence or willful or criminal misconduct. Notwithstanding the foregoing, any indemnification obligation hereunder shall not, together with (i) any indemnification obligation of Merchant pursuant to the Program Partnership Agreement in favor of an Indemnified Party (as defined in the Program Partnership Agreement) and (ii) any indemnification obligation of Merchant, in its capacity as the general partner of the Special Limited Partner (as defined in the Program Partnership Agreement) pursuant to the Finders Carried Interest Sharing Agreement (as defined in the Program Partnership Agreement) in favor of Capital Partners or its affiliates (solely to the extent such indemnification obligation is not borne by any limited partner of the Special Limited Partner), exceed the Limited Partner Indemnification Cap (as defined in the Program Partnership Agreement). This indemnity shall survive termination of this Agreement, the Program Partnership Agreement and the Program Management Agreement. (b) None of the Indemnitees shall be liable, in damages or otherwise, to the MD Partnership or to any of its partners for any act or omission performed or omitted by any of them arising out of or in connection with this Agreement, the Program Agreement, the Program or the MD Partnership's or Program Partnership's operations or affairs, including, without limitation, serving as a director of any Portfolio Company, unless such act or omission results from the Indemnitee's gross negligence or willful or criminal misconduct; provided, however, that nothing contained in this Section 4(b) shall relieve the Program General Partner or Capital Partners from the obligation to correct, promptly after the discovery thereof of any Person, any errors in the calculation of fees and other payments provided for in the Program Partnership Agreement. (c) Each Indemnitee shall be a third party beneficiary of this Agreement solely for purposes of this Section 4. 5. Termination. This Agreement shall terminate upon the earlier of (i) the termination of the MD Partnership and (ii) the termination of the Program Management Agreement or the removal of Capital Partners as the Management Company; provided, however, that the provisions of Section 4 of this Agreement shall survive such termination. 6. Power of Attorney. The MD Partnership, by the execution of this Agreement, does hereby constitute and appoint Capital Partners and its general partner, with full power of substitution, as its true and lawful attorney, in its name, place and stead, to 3 exercise all rights with respect to MD Investments, including, without limitation, the execution of documentation in connection with the acquisition of such MD Investments, as provided herein and to execute, acknowledge, swear to, deliver, record and file, as appropriate, all instruments or papers which may be required thereby, such appointment to terminate upon the termination of this Agreement pursuant to Section 5 hereof. 7. Notices. All notices, consents, requests, instructions, approvals and other communications provided for herein shall be validly given, made or served if in writing and delivered personally, by telegram or by telecopy or sent by overnight courier, postage prepaid, to: Capital Partners at: Clipper Capital Partners, L.P. Tower 49 12 East 49th Street 30th Floor New York, New York 10017 Attention: Mr. Bela R. Schwartz Telecopy No.: 212-318-1365 With a copy to: Weil, Gotshal & Manges 767 Fifth Avenue New York, New York 10153 Attention: Michael Nissan, Esq. Telecopy No.: 212-310-8007 the MD Partnership at: CS First Boston Merchant Investments 1995/96,L.P. c/o Merchant Capital, Inc. Park Avenue Plaza 55 East 52nd Street New York, New York 10055-0186 Attention: Ms. Agnes F. Reicke Mr. Andrew M. Hutcher, Esq. Mr. Joseph F. Huber Ms. Nancy G. Farese Telecopy No.: 212-318-1213 or to such other address as any party may, from time to time, designate in a written notice given in a like manner. Notice given by telegram or telecopy shall be deemed delivered when received by the recipient. Notice given by overnight courier as set out above shall be deemed delivered the second business day after the date the same is mailed. 4 8. Governing Law. This Agreement shall be construed and enforceable in accordance with, and governed by, the laws of the State of New York, without giving effect to the provisions, policies or principles thereof relating to choice or conflict of laws. 9. Entire Agreement. This Agreement embodies the entire agreement and understanding among the parties hereto with respect to the subject matter hereof an supersedes all other prior arrangements and understandings relating to the subject matter hereof. 10. Amendments. This Agreement may not be amended, changed, waived or modified except by a writing executed by each of the parties hereto. 11. Counterparts. This agreement may be executed either directly or by an attorney-in-fact, in any number of counterparts of the signature pages, each of which shall be considered an original. 5 IN WITNESS WHEREOF, the parties hereto have executed this agreement as of the day and year first above written. CLIPPER CAPITAL PARTNER, L.P. By: CLIPPER CAPITAL CORPORATION, --------------------------------- its general partner By: /s/ BELA R. SCHWARTZ --------------------------------- Name: Bela R. Schwartz Title: Secretary & Treasurer MERCHANT CAPITAL, INC. By: /s/ AGNES REICKE -------------------------------- Name: Agnes Reicke Title: Vice President CS FIRST BOSTON MERCHANT INVESTMENTS 1995/96, L.P. By: MERCHANT CAPITAL, INC., -------------------------------- its general partner By: /s/ AGNES REICKE -------------------------------- Name: Agnes Reicke Title: Vice President Dated: January 10, 1996 Signature Page for Management Agreement (Clipper Program) -----END PRIVACY-ENHANCED MESSAGE-----