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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Amendment No. 5
Under the Securities Exchange Act of 1934*
Mentor Corporation
------------------------------------------------
(Name of Issuer)
Common Stock, Par Value $0.10 per share
------------------------------------------------
(Title of Class of Securities)
587188103
------------------------------------------------
(CUSIP Number)
George F. Hamel, Jr.
ValueAct Capital
One Maritime Plaza, Suite 1400
San Francisco, CA 94111
(415) 362-3700
------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
August 4, 2003
-------------------------------------------------------
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition that is the subject of this Schedule 13D, and is filing this
schedule because of Rule 240.13d-1(b)(e), 240.13d-1(f) or 240.13d-1(g) check the
following box [ ].
NOTE: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See Rule 240.13d-7(b) for other
parties to whom copies are to be sent
* The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
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SCHEDULE 13D
-------------------------- ------------------------
CUSIP No. 532192101 Page 2 of 15
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1. NAME OF REPORTING PERSON/S.S. OR I.R.S. IDENTIFICATION
NO. OF ABOVE PERSON (entities only)
ValueAct Capital Partners, L.P
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [X]
(B) [ ]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS
WC*
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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
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7. SOLE VOTING POWER
0
NUMBER OF --------------------------------------------------
SHARES 8. SHARED VOTING POWER
BENEFICIALLY
OWNED BY 4,726,486**
EACH --------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON
WITH: 0
--------------------------------------------------
10. SHARED DISPOSITIVE POWER
4,726,486**
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,726,486**
--------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
10.13%
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14. TYPE OF REPORTING PERSON
PN
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*See Item 3
**See Item 2 and 5
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE
ATTESTATION.
SCHEDULE 13D
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CUSIP No. 532192101 Page 3 of 15
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1. NAME OF REPORTING PERSON/S.S. OR I.R.S. IDENTIFICATION
NO. OF ABOVE PERSON (entities only)
ValueAct Capital Partners II, L.P
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [X]
(B) [ ]
--------------------------------------------------------------------------------
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
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7. SOLE VOTING POWER
0
NUMBER OF --------------------------------------------------
SHARES 8. SHARED VOTING POWER
BENEFICIALLY
OWNED BY 519,891**
EACH --------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON
WITH: 0
--------------------------------------------------
10. SHARED DISPOSITIVE POWER
519,891**
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
519,891**
--------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.11%
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14. TYPE OF REPORTING PERSON
PN
================================================================================
*See Item 3
**See Item 2 and 5
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE
ATTESTATION.
SCHEDULE 13D
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CUSIP No. 532192101 Page 4 of 15
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1. NAME OF REPORTING PERSON/S.S. OR I.R.S. IDENTIFICATION
NO. OF ABOVE PERSON (entities only)
ValueAct Capital International Ltd.
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [X]
(B) [ ]
--------------------------------------------------------------------------------
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) [ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION
British Virgin Islands
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7. SOLE VOTING POWER
0
NUMBER OF --------------------------------------------------
SHARES 8. SHARED VOTING POWER
BENEFICIALLY
OWNED BY 1,265,141**
EACH --------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON
WITH: 0
--------------------------------------------------
10. SHARED DISPOSITIVE POWER
1,265,141**
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,265,141**
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12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.71%
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14. TYPE OF REPORTING PERSON
CO
================================================================================
*See Item 3
**See Item 2 and 5
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE
ATTESTATION.
SCHEDULE 13D
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CUSIP No. 532192101 Page 5 of 15
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1. NAME OF REPORTING PERSON/S.S. OR I.R.S. IDENTIFICATION
NO. OF ABOVE PERSON (entities only)
VA Partners, L.L.C.
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [X]
(B) [ ]
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3. SEC USE ONLY
--------------------------------------------------------------------------------
4. SOURCE OF FUNDS
OO*
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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
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7. SOLE VOTING POWER
0
NUMBER OF --------------------------------------------------
SHARES 8. SHARED VOTING POWER
BENEFICIALLY
OWNED BY 6,511,518**
EACH --------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON
WITH: 0
--------------------------------------------------
10. SHARED DISPOSITIVE POWER
6,511,518**
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
6,511,518**
--------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13.96%
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14. TYPE OF REPORTING PERSON
00(LLC)
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*See Item 3
**See Item 2 and 5
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE
ATTESTATION.
SCHEDULE 13D
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CUSIP No. 532192101 Page 6 of 15
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1. NAME OF REPORTING PERSON/S.S. OR I.R.S. IDENTIFICATION
NO. OF ABOVE PERSON (entities only)
Jeffrey W. Ubben
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [X]
(B) [ ]
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3. SEC USE ONLY
--------------------------------------------------------------------------------
4. SOURCE OF FUNDS
00*
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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
0
NUMBER OF --------------------------------------------------
SHARES 8. SHARED VOTING POWER
BENEFICIALLY
OWNED BY 6,511,518**
EACH --------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON
WITH: 0
--------------------------------------------------
10. SHARED DISPOSITIVE POWER
6,511,518**
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
6,511,518**
--------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13.96%
--------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
IN
================================================================================
*See Item 3
**See Item 2 and 5
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE
ATTESTATION.
SCHEDULE 13D
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CUSIP No. 532192101 Page 7 of 15
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1. NAME OF REPORTING PERSON/S.S. OR I.R.S. IDENTIFICATION
NO. OF ABOVE PERSON (entities only)
George F. Hamel, Jr.
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [X]
(B) [ ]
--------------------------------------------------------------------------------
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
United States
--------------------------------------------------------------------------------
7. SOLE VOTING POWER
0
NUMBER OF --------------------------------------------------
SHARES 8. SHARED VOTING POWER
BENEFICIALLY
OWNED BY 6,511,518**
EACH --------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON
WITH: 0
--------------------------------------------------
10. SHARED DISPOSITIVE POWER
6,511,518**
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
6,511,518**
--------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13.96%
--------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
IN
================================================================================
*See Item 3
**See Item 2 and 5
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE
ATTESTATION.
SCHEDULE 13D
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CUSIP No. 532192101 Page 8 of 15
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1. NAME OF REPORTING PERSON/S.S. OR I.R.S. IDENTIFICATION
NO. OF ABOVE PERSON (entities only)
Peter H. Kamin
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [X]
(B) [ ]
--------------------------------------------------------------------------------
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
United States
--------------------------------------------------------------------------------
7. SOLE VOTING POWER
0
NUMBER OF --------------------------------------------------
SHARES 8. SHARED VOTING POWER
BENEFICIALLY
OWNED BY 6,511,518**
EACH --------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON
WITH: 0
--------------------------------------------------
10. SHARED DISPOSITIVE POWER
6,511,518**
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
6,511,518**
--------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13.96%
--------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
IN
================================================================================
*See Item 3
**See Item 2 and 5
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE
ATTESTATION.
THE PURPOSE OF THIS AMENDMENT NO. 5 TO SCHEDULE 13D IS TO AMEND THE SCHEDULE 13D
FILED BY THE REPORTING PERSONS ON MARCH 12, 2001. THE INFORMATION BELOW
SUPPLEMENTS THE INFORMATION PREVIOUSLY PROVIDED.
ITEM 1. SECURITY AND ISSUER.
This Schedule 13D relates to shares of Common Stock, par value $0.10
par value per share (the "Common Stock"), of Mentor Corporation., a Minnesota
corporation (the "Issuer"). The address of the principal executive offices of
the Issuer is 201 Mentor Drive, Santa Barbara, California, 93111.
ITEM 2. IDENTITY AND BACKGROUND.
(a), (b), (c) and (f). This Statement is filed jointly by (a)ValueAct
Capital Partners, L.P. ("ValueAct Partners"), (b) ValueAct Capital Partners II,
L.P. ("ValueAct Partners II"), (c) ValueAct Capital International, Ltd.
("ValueAct International"), (d) VA Partners, L.L.C. ("VA Partners"), (e) Jeffrey
W. Ubben, (f) George F. Hamel, Jr. and (g) Peter H. Kamin (collectively, the
"Reporting Persons").
ValueAct Partners and ValueAct Partners II are each Delaware limited
partnerships, the principal business of which is investing in securities.
ValueAct International is a Company organized in the British Virgin Islands. The
principal business of each entity is investing in securities. Each has a
principal business address of One Maritime Plaza, Suite 1400, San Francisco,
California 94111.
VA Partners is a Delaware limited liability company, the principal
business of which is to render investment management services to ValueAct
International and to serve as the General Partner of ValueAct Partners and
ValueAct Partners II. VA Partners has a principal business address of One
Maritime Plaza, Suite 1400, San Francisco, California 94111.
(a), (b), (c) Messrs. Ubben, Hamel and Kamin are each managing members,
principal owners and controlling persons of VA Partners, and directors and
principal executive officers of ValueAct International, and such activities
constitute their principal occupations. Such individuals are sometimes
collectively referred to herein as the "Managing Members" or individually as a
"Managing Member". Each Managing Member is a United States citizen and has a
principal business address of One Maritime Plaza, Suite 1400, San Francisco,
California 94111.
(d) and (e). None of the entities or persons identified in this Item 2
has during the past five years been convicted of any criminal proceeding
(excluding traffic violations or similar misdemeanors), nor 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.
Page 9 of 15
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
The source of funds used for the purchase of the Issuer's securities
was the working capital of ValueAct Partners II and ValueAct International. The
aggregate funds used by the Reporting Persons to make the purchases were
$1,236,198 and $11,057,930.12, respectively.
ITEM 4. PURPOSE OF TRANSACTION.
The Reporting Persons have acquired the Issuer's Common Stock for
investment purposes, and such purchases have been made in the Reporting Persons'
ordinary course of business.
In pursuing such investment purposes, the Reporting Persons may further
purchase, hold, vote, trade, dispose or otherwise deal in the Common Stock at
times, and in such manner, as they deem advisable to benefit from changes in
market prices of such Common Stock, changes in the Issuer's operations, business
strategy or prospects, or from sale or merger of the Issuer. To evaluate such
alternatives, the Reporting Persons will routinely monitor the Issuer's
operations, prospects, business development, management, competitive and
strategic matters, capital structure, and prevailing market conditions, as well
as alternative investment opportunities, liquidity requirements of the Reporting
Persons and other investment considerations. Consistent with its investment
research methods and evaluation criteria, the Reporting Persons may discuss such
matters with management or directors of the Issuer, other shareholders, industry
analysts, existing or potential strategic partners or competitors, investment
and financing professionals, sources of credit and other investors. Such factors
and discussions may materially affect, and result in, the Reporting Persons'
modifying their ownership of Common Stock, exchanging information with the
Issuer pursuant to appropriate confidentiality or similar agreements, proposing
changes in the Issuer's operations, governance or capitalization, or in
proposing one or more of the other actions described in subsections (a) through
(j) of this Item 4.
The Reporting Persons reserve the right to formulate other plans and/or
make other proposals, and take such actions with respect to their investment in
the Issuer, including any or all of the actions set forth in paragraphs (a)
through (j) of Item 4 of Schedule 13D, or acquire additional Common Stock or
dispose of all the Common Stock beneficially owned by them, in public market or
privately negotiated transactions. The Reporting Persons may at any time
reconsider and change their plans or proposals relating to the foregoing.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
(a), (b). Set forth below is the beneficial ownership of shares of
Common Stock of the Issuer for each person named in Item 2. Shares reported as
beneficially owned by each of ValueAct Partners, ValueAct Partners II and
ValueAct International are also reported as beneficially owned by VA Partners,
as investment manager or General Partner of each of such investment
partnerships, and by the Managing Members as controlling persons of the General
Partner. VA Partners and the Managing Members also, directly or indirectly, may
own interests in one or both of such partnerships from time to time. Unless
otherwise indicated below, by reason of such relationships each of the
partnerships is reported as having shared power to vote or to direct the vote,
and shared power to dispose or direct the disposition of, such shares of Common
Stock with VA Partners and the Managing Members.
Page 10 of 15
ValueAct Partners is the beneficial owner of 4,726,486 shares of Common
Stock, representing approximately 10.13% of the Issuer's outstanding Common
Stock. ValueAct Partners II is the beneficial owner of 519,891 shares of Common
Stock, representing approximately 1.11% of the Issuer's outstanding Common
Stock. ValueAct International is the beneficial owner of 1,265,141 shares of
Common Stock, representing approximately 2.71% of the Issuer's outstanding
Common Stock. VA Partners and each of the Managing Members may be deemed the
beneficial owner of an aggregate of 6,511,518 shares of Issuer Common Stock,
representing approximately 13.96% of the Issuer's outstanding Common Stock. All
percentages set forth in this Schedule 13D are based upon the Issuer's reported
46,654,512 outstanding shares of Common Stock as reported in the Issuer's Form
10-K for the period ended March 31, 2003.
(c) The following transactions in the Issuer's Common Stock were effected by the
Reporting Persons during the sixty (60) days preceding the date of this report.
All of such transactions represent open market transactions.
Reporting Person Trade Date Shares Price/Share
---------------- ---------- ------ -----------
Value Partners II 08-04-03 30,000 $20.55
08-04-03 30,000 $20.54
Value International 08-04-03 97,300 $20.55
08-04-03 142,700 $20.54
08-05-03 164,400 $20.60
08-05-03 35,600 $20.16
08-06-03 100,000 $19.97
(d) and (e) Not applicable.
Page 11 of 15
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE ISSUER
Other than as described elsewhere in this Report, the Reporting Persons
have no understandings, arrangements, relationships or contracts relating to the
Issuer's Common Stock which are required to be described thereunder.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
1. Joint Filing Agreement
Page 12 of 15
SIGNATURES
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.
POWER OF ATTORNEY
KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears
below on this Schedule 13D hereby constitutes and appoints Jeffrey W. Ubben,
George F. Hamel, Jr. and Peter H. Kamin, and each of them, with full power to
act without the other, his true and lawful attorney-in-fact and agent, with full
power of substitution and resubstitution, for him and in his name, place and
stead, in any and all capacities (until revoked in writing) to sign any and all
amendments to this Schedule 13D, and to file the same, with all exhibits thereto
and other documents in connection therewith, with the Securities and Exchange
Commission, granting unto said attorneys-in-fact and agents, and each of them,
full power and authority to do and perform each and every act and thing
requisite and necessary fully to all intents and purposes as he might or could
do in person, thereby ratifying and confirming all that said attorneys-in-fact
and agents or any of them, or their or his substitute or substitutes, may
lawfully do or cause to be done by virtue hereof.
ValueAct Capital Partners L.P., by
VA Partners, L.L.C., its General Partner
By: /s/ George F. Hamel, Jr.
------------------------------------------
Dated: August 7, 2003 George F. Hamel, Jr., Managing Member
ValueAct Capital Partners II L.P., by
VA Partners, L.L.C., its General Partner
By: /s/ George F. Hamel, Jr.
------------------------------------------
Dated: August 7, 2003 George F. Hamel, Jr., Managing Member
ValueAct Capital International, Ltd., by
VA Partners, L.L.C., its investment manager
By: /s/ George F. Hamel, Jr.
------------------------------------------
Dated: August 7, 2003 George F. Hamel, Jr., Managing Member
Page 13 of 15
VA Partners, L.L.C.
By: /s/ George F. Hamel, Jr.
------------------------------------------
Dated: August 7, 2003 George F. Hamel, Jr., Managing Member
By: /s/ Jeffrey W. Ubben
------------------------------------------
Dated: August 7, 2003 Jeffrey W. Ubben, Managing Member
By: /s/ George F. Hamel, Jr.
------------------------------------------
Dated: August 7, 2003 George F. Hamel, Jr., Managing Member
By: /s/ Peter H. Kamin
------------------------------------------
Dated: August 7, 2003 Peter H. Kamin, Managing Member
Page 14 of 15
EXHIBIT A
JOINT FILING UNDERTAKING
The undersigned parties hereby agree that the Schedule 13D filed herewith (and
any amendments thereto) relating to the Common Stock of Mentor Corporation is
being filed jointly on behalf of each of them with the Securities and Exchange
Commission pursuant to Section 13(d) of the Securities Exchange Act of 1934, as
amended.
ValueAct Capital Partners L.P., by
VA Partners, L.L.C., its General Partner
By: /s/ George F. Hamel, Jr.
------------------------------------------
Dated: August 7, 2003 George F. Hamel, Jr., Managing Member
ValueAct Capital Partners II L.P., by
VA Partners, L.L.C., its General Partner
By: /s/ George F. Hamel, Jr.
------------------------------------------
Dated: August 7, 2003 George F. Hamel, Jr., Managing Member
ValueAct Capital International, Ltd., by
VA Partners, L.L.C., its investment manager
By: /s/ George F. Hamel, Jr.
------------------------------------------
Dated: August 7, 2003 George F. Hamel, Jr., Managing Member
VA Partners, L.L.C.
By: /s/ George F. Hamel, Jr.
------------------------------------------
Dated: August 7, 2003 George F. Hamel, Jr., Managing Member
By: /s/ Jeffrey W. Ubben
------------------------------------------
Dated: August 7, 2003 Jeffrey W. Ubben, Managing Member
By: /s/ George F. Hamel, Jr.
------------------------------------------
Dated: August 7, 2003 George F. Hamel, Jr., Managing Member
By: /s/ Peter H. Kamin
------------------------------------------
Dated: August 7, 2003 Peter H. Kamin, Managing Member
Page 15 of 15