AMENDMENT TO RIGHTS
AGREEMENT
This
AMENDMENT (“ Amendment ”) is made and entered
into as of the 8th day of February, 2007 by and between Laidlaw
International, Inc., a Delaware corporation (the “
Company ”), and Wells Fargo Bank, National
Association, as successor by consolidation to Wells Fargo Bank
Minnesota, National Association, as rights agent (the “
Rights Agent ”).
WHEREAS,
the Company and the Rights Agent are parties to the Rights
Agreement, dated as of June 23, 2003 (the “ Rights
Agreement ”);
WHEREAS,
it is proposed that the Company enter into an Agreement and Plan of
Merger (the “ Merger Agreement ”) by and among
the Company, FirstGroup plc, a public limited company organized
under the laws of Scotland (“ Parent ”), and
Fern Acquisition Corporation, a Delaware corporation and wholly
owned subsidiary of Parent (“ Sub ”), pursuant
to which, among other things, Sub will merge with and into the
Company (the “ Merger ”);
WHEREAS,
the Board of Directors of the Company has approved the Merger
Agreement and the Merger;
WHEREAS,
pursuant to Section 27 of the Rights Agreement, prior to the
time at which the Rights cease to be redeemable pursuant to
Section 23 of the Rights Agreement, subject to certain
limitations, the Company may in its sole and absolute discretion,
and the Rights Agent shall, if the Company so directs, supplement
or amend the Rights Agreement without the approval of any holders
of Rights or Common Shares;
WHEREAS,
in accordance with Section 27 of the Rights Agreement, an
officer of the Company has delivered a certificate as to the
compliance of this Amendment with the terms of Section 27 of
the Rights Agreement;
WHEREAS,
the Board of Directors of the Company has determined that an
amendment to the Rights Agreement as set forth herein is necessary
and desirable in connection with the foregoing; and
WHEREAS,
capitalized terms used but not otherwise defined herein shall have
the respective meanings ascribed to such terms in the Rights
Agreement.
NOW,
THEREFORE, in consideration of the premises and agreements set
forth herein and in the Rights Agreement, the parties hereto,
intending to be legally bound, agree as follows:
Section 1.
Defined Terms . Section 1 of the Rights Agreement is
hereby amended to add thereto the following paragraphs (gg), (hh),
(ii) and (jj) which provide as follows: