Sunbeam 2007 Annual Report Download - page 36

Our business, results of operations and financial condition could be materially adversely affected by the
loss of our executive officers and the inability to attract and retain appropriately qualified replacements or
the diversion of our Chief Executive Officer’s time and energy to permitted outside interests, including
with respect to his obligations to a special purpose acquisition company.
We are highly dependent on the continuing efforts of our executive officers, particularly Martin E. Franklin,
our Chairman and Chief Executive Officer, Ian G.H. Ashken, our Vice Chairman and Chief Financial Officer,
and James E. Lillie, our President and Chief Operating Officer. We believe these officers’ experience in the
branded consumer products industry and our business, and with strategic acquisitions of complementary
businesses within our primary business segments, has been important to our historical growth and is important to
our future growth strategy. We currently have employment agreements with all of these executive officers.
However, we cannot assure you that we will be able to retain any of these executive officers. Our business,
results of operations and financial condition could be materially adversely affected by the loss of any of these
executive officers and the inability to attract and retain appropriately qualified replacements. We do not maintain
“key man” insurance on any of our executive officers.
Messrs. Franklin and Ashken have other interests and engage in other activities beyond their positions at
Jarden (something they are permitted to do under the terms of their employment agreements with us provided
such other activities do not interfere with their duties as an executive of Jarden or directly compete with us). In
particular, Mr. Franklin is chairman of the board of directors of Liberty Acquisition Holdings Corp. (“Liberty”),
a special purpose acquisition company (“SPAC”) formed to acquire one or more operating businesses with
principal business operations in North America within 30-36 months of becoming a public company. Marlin
Equities II, LLC, an investment vehicle majority owned by its managing member, Mr. Franklin, and Mr. Ashken,
the other principal member, is one of the principal stockholders of Liberty. Liberty’s registration statement on
Form S-1 previously filed with the Commission in late 2007 was declared effective by the Commission on
December 6, 2007. Liberty consummated its initial public offering on December 12, 2007, but has not announced
any specific merger, acquisition, or other strategic transaction under consideration. Mr. Franklin is also chairman
of board of directors of Liberty Acquisition Holdings (International) Company (“LIAC”), a SPAC formed to
acquire one or more operating businesses with principal business operations outside of North America within 24
months of becoming a public company. Marlin Equities IV, LLC, an investment vehicle majority owned by its
managing member, Mr. Franklin, and Mr. Ashken, the other principal member, is one of the principal
stockholders of LIAC. LIAC consummated its initial public offering on February 13, 2008, but has not
announced any specific merger, acquisition, or other strategic transaction under consideration. Liberty and
LIAC’s operations will be dependent upon a relatively small group of key officers and directors, including
Mr. Franklin, at least until Liberty and LIAC have each consummated a business combination. Because
Mr. Franklin will have an obligation to assist Liberty and LIAC in actively sourcing and acquiring target
businesses, he will be required to spend time and energy (such time and energy may be potentially significant)
that he might otherwise devote to Jarden on behalf of another enterprise, which could have an adverse impact on
our business. Mr. Franklin has maintained outside business interests, including another SPAC investment, since
becoming our Chairman and CEO in 2001. None of these outside business interests conflict with his duties to
Jarden.
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