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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities and Exchange Act of 1934
(Amendment to Amendment No. 2)*
SIRVA, INC.
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(Name of Issuer)
Common Stock, par value $0.01 per share
------------------------------------------------
(Title of Class of Securities)
82967Y104
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(CUSIP Number)
Allison Bennington, Esq.
ValueAct Capital
435 Pacific Avenue, Fourth Floor
San Francisco, CA 94133
(415) 362-3700
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(Name, address and telephone number of Person
Authorized to Receive Notices and Communications)
Christopher G. Karras, Esq.
Dechert LLP
Cira Centre
2929 Arch Street
Philadelphia, PA 19104-2808
(215) 994-4000
September 25, 2006
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(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 240.13d-1(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 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.
This 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
-------------------------- -------------------------
EXPLANATORY NOTE: THIS AMENDMENT TO AMENDMENT NO. 2 TO SCHEDULE 13D IS BEING
FILED TO MODIFY INCORRECT SHARES AND OWNERSHIP PERCENTAGES PREVIOUSLY REPORTED.
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CUSIP NO. 82967Y104 Page 2 of 14
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1. NAME OF REPORTING PERSON/S.S. OR I.R.S. INDENTIFICATION NO. OF ABOVE
PERSON (entities only)
ValueAct Capital Master Fund, 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 (See Instructions)*
WC*
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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 31,320,235**
OWNED BY EACH ----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER
0
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10. SHARED DISPOSITIVE POWER
7,131,900**
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
31,320,235**
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12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
42.4%
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14. TYPE OF REPORTING PERSON
PN
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*See Item 3
**See Item 2 and 5
SCHEDULE 13D
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CUSIP NO. 82967Y104 Page 3 of 14
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1. NAME OF REPORTING PERSON/S.S. OR I.R.S. INDENTIFICATION NO. OF ABOVE
PERSON (entities only)
VA Partners, L.L.C.
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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*
00*
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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
Delaware
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7. SOLE VOTING POWER
0
NUMBER OF ----------------------------------------------------------
SHARES 8. SHARED VOTING POWER
BENEFICIALLY 31,320,235**
OWNED BY EACH ----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER
0
----------------------------------------------------------
10. SHARED DISPOSITIVE POWER
7,131,900**
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
31,320,235**
-----------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
42.4%
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14. TYPE OF REPORTING PERSON
00 (LLC)
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*See Item 3
**See Item 2 and 5
SCHEDULE 13D
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CUSIP NO. 82967Y104 Page 4 of 14
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1. NAME OF REPORTING PERSON/S.S. OR I.R.S. INDENTIFICATION NO. OF ABOVE
PERSON (entities only)
ValueAct Capital Management, 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*
00*
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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
Delaware
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7. SOLE VOTING POWER
0
NUMBER OF ----------------------------------------------------------
SHARES 8. SHARED VOTING POWER
BENEFICIALLY 31,320,235**
OWNED BY EACH ----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER
0
----------------------------------------------------------
10. SHARED DISPOSITIVE POWER
7,131,900**
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
31,320,235**
-----------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
42.4%
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14. TYPE OF REPORTING PERSON
PN
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*See Item 3
**See Item 2 and 5
SCHEDULE 13D
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CUSIP NO. 82967Y104 Page 5 of 14
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1. NAME OF REPORTING PERSON/S.S. OR I.R.S. INDENTIFICATION NO. OF ABOVE
PERSON (entities only)
ValueAct Capital Management, LLC
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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*
-----------------------------------------------------------------------------
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
Delaware
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7. SOLE VOTING POWER
0
NUMBER OF ----------------------------------------------------------
SHARES 8. SHARED VOTING POWER
BENEFICIALLY 31,320,235**
OWNED BY EACH ----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER
0
----------------------------------------------------------
10. SHARED DISPOSITIVE POWER
7,131,900**
-----------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
31,320,235**
-----------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
-----------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
42.4%
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14. TYPE OF REPORTING PERSON
00 (LLC)
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*See Item 3
**See Item 2 and 5
SCHEDULE 13D
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CUSIP NO. 82967Y104 Page 6 of 14
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1. NAME OF REPORTING PERSON/S.S. OR I.R.S. INDENTIFICATION 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
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4. SOURCE OF FUNDS*
00*
-----------------------------------------------------------------------------
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
United States
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7. SOLE VOTING POWER
0
NUMBER OF ----------------------------------------------------------
SHARES 8. SHARED VOTING POWER
BENEFICIALLY 31,320,235**
OWNED BY EACH ----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER
0
----------------------------------------------------------
10. SHARED DISPOSITIVE POWER
7,131,900**
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
31,320,235**
-----------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
-----------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
42.4%
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14. TYPE OF REPORTING PERSON
IN
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*See Item 3
**See Item 2 and 5
SCHEDULE 13D
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CUSIP NO. 82967Y104 Page 7 of 14
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1. NAME OF REPORTING PERSON/S.S. OR I.R.S. INDENTIFICATION NO. OF ABOVE
PERSON (entities only)
George F. Hamel, Jr.
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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*
00*
-----------------------------------------------------------------------------
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
United States
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7. SOLE VOTING POWER
0
NUMBER OF ----------------------------------------------------------
SHARES 8. SHARED VOTING POWER
BENEFICIALLY 31,320,235**
OWNED BY EACH ----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER
0
----------------------------------------------------------
10. SHARED DISPOSITIVE POWER
7,131,900**
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
31,320,235**
-----------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
-----------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
42.4%
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14. TYPE OF REPORTING PERSON
IN
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*See Item 3
**See Item 2 and 5
SCHEDULE 13D
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CUSIP NO. 82967Y104 Page 8 of 14
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1. NAME OF REPORTING PERSON/S.S. OR I.R.S. INDENTIFICATION 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) [ ]
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3. SEC USE ONLY
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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 31,320,235**
OWNED BY EACH ----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER
0
----------------------------------------------------------
10. SHARED DISPOSITIVE POWER
7,131,900**
-----------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
31,320,235**
-----------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
-----------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
42.4%
-----------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
IN
-----------------------------------------------------------------------------
*See Item 3
**See Item 2 and 5
THE PURPOSE OF THIS AMENDMENT TO AMENDMENT NO. 2 IS TO AMEND THE OWNERSHIP
PERCENTAGES AND SHARES OF THE REPORTING PERSONS. THE INFORMATION BELOW
SUPPLEMENTS THE INFORMATION PREVIOUSLY PROVIDED.
ITEM 4. PURPOSE OF TRANSACTION.
On September 25, 2006, ValueAct Master Fund, L.P. ("ValueAct Master Fund"),
MLF Offshore Portfolio Company, LP ("MLF") and the Issuer entered into a
Securities Purchase Agreement (the "Securities Purchase Agreement"). The
closing conditions contained in the Securities Purchase Agreement were met on
September 29, 2006 and the following transactions contemplated by the
Securities Purchase Agreement were effected.
Under the terms of the Securities Purchase Agreement:
Purchase of Notes
* ValueAct Master Fund purchased notes in the principal amount of
$60,000,000 of the Issuer's 10% senior convertible notes which mature
June 1, 2011 ("Notes"). The Notes purchased by ValueAct Master Fund
are convertible into 60,000 shares of 8% Convertible Perpetual
Preferred Stock of the Company ("Convertible Preferred Stock"). The
conversion of the Notes into Convertible Preferred Stock (the
"Conversion Event") will occur upon approval by the Stockholders of the
Issuer of the issuance of the Convertible Preferred Stock (the
"Issuance") and conversion of the Notes into Convertible Preferred
Stock.
* Interest is payable on the Notes quarterly in arrears on March 1, June
1, September 1 and December 1 of each year, beginning on December 1,
2006. If a Conversion Event has not occurred by May 31, 2007, the
Issuer must pay additional interest on the Notes at a rate of 2.00% per
annum. The additional interest would be paid in shares of Common Stock
based on a price of $3.00 per share. Holders of the Notes may require
the Issuer to purchase their notes for cash upon the occurrence of
certain events at an amount equal to the principal amount of the Notes
plus accrued and unpaid interest and additional common stock interest,
if any, up to and including the payment date.
Purchase of Series A Preferred Stock
* ValueAct Master Fund purchased one share of the Issuer's Series A
Preferred Stock. The holder of Series A Preferred Stock (the "Holder")
is entitled to elect, remove or replace up to two designated directors
("Designated Directors") to the Issuer's Board of Directors under
certain circumstances. The right to elect, remove or replace the
Designated Directors is tied to ownership levels of the Notes and the
Convertible Preferred Stock. If a Holder holds (i) at least $6,000,000
in principal amount of the Notes or (ii) at least 6,000 shares of
Convertible Preferred Stock, the Holder is entitled to elect two
Designated Directors. If a Holder holds (i) at least $3,000,000 but
less than $6,000,000 in principal amount of the Notes or (ii) at least
3,000 shares but less than 6,000 shares of Convertible Preferred Stock,
the Holder is entitled to elect one Designated Director. If a Holder
ceases in the aggregate to hold (i) at least $3,000,000 in principal
Page 9 of 14
amount of the Notes or (ii) at least 3,000 shares of Convertible
Preferred Stock, the Holder is not entitled to elect any Designated
Directors and the terms of the Designated Directors are terminated.
ValueAct Master Fund is currently eligible to elect two Designated
Directors based on its $60,000,000 principal amount of the Notes.
ValueAct Master Fund elected Peter Kamin and Kelly Barlow as Designated
Directors. The Series A Preferred Stock is transferable (subject to
the Issuer's prior written consent) as long as the Holder is
transferring to a single person (i) at least $60,000,000 principal
amount of the Notes or (ii) at least 60,000 shares of Convertible
Preferred Stock. The Series A Preferred Stock is not convertible into
shares of Issuer common stock nor entitled to the payment of dividends.
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
As of the date hereof, ValueAct Master Fund is the owner of record of
7,131,900 shares of Common Stock, representing 9.7% of the Issuer's
73,935,717 outstanding shares of Common Stock.?However, as of the date
hereof, ValueAct Master Fund may be deemed to be the beneficial owner of
31,320,235 shares of Common Stock, representing approximately 42.4% of the
Issuer's outstanding Common Stock, as more fully described in the following
paragraph. ? VA Partners, ValueAct Management L.P., ValueAct Management LLC
and the Managing Members (collectively, the "Joint Filers") may each be
deemed the beneficial owner of an aggregate of 31,320,235 shares of Common
Stock, representing approximately 42.4% of the Issuer's outstanding Common
Stock.
Of the?31,320,235 shares of Common Stock reported as beneficially owned by
ValueAct Master Fund on this Schedule 13D, 17,085,837 shares are owned of
record by Clayton, Dubilier & Rice Fund V Limited Partnership ("Fund V") and
7,102,498 shares are owned of record by Clayton, Dubilier & Rice Fund VI
Limited Partnership (collectively, the "CD&R Shares" and together with Fund
V, the "CD&R Entities").? Solely as a result of the Voting Agreement dated
September 29, 2006 entered into by and among ValueAct Master Fund, MLF
Offshore Portfolio Company, LP and the CD&R Entities, ValueAct Master Fund
and the Joint Filers may be deemed to beneficially own the CD&R Shares.??The
Voting Agreement, described in Item 6, memorializes the CD&R Entities'
obligation to vote in favor of the conversion of Notes into the Issuer's
Convertible Perpetual Preferred Stock, as described in Item 4. All
dispositive power and pecuniary interest in the CD&R Shares are held by the
CD&R Entities.? ValueAct Master Fund and the Joint Filers disclaim beneficial
ownership of the CD&R shares pursuant to Rule 13d-4 under the Securities
Exchange Act of 1934, as amended (the "Act"), and the inclusion of CD&R
Shares in this report shall not be deemed as admission of beneficial
ownership of the reported securities for purposes of Section 13(d) or 13(g)
of the Act or for any other purposes.
All percentages set forth in this Schedule 13D are based upon the Issuer's
reported 73,935,717 outstanding shares of Common Stock as reported in
the Issuer's Form 10-K for the fiscal year ended December 31, 2004.
Page 10 of 14
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDING, OR RELATIONSHIPS WITH
RESPECT TO THE SECURITIES
The information set forth in Item 4 with respect to the Securities Purchase
Agreement is incorporated herein by reference.
On September 29, 2006, ValueAct Master Fund, MLF, Clayton, Dubilier & Rice
Fund V Limited Partnership ("Fund V") and Clayton, Dubilier & Rice Fund VI
Limited Partnership ("Fund VI" and, together with Fund V, the "Stockholders")
entered into a Voting Agreement. Under the terms of the Voting Agreement,
the Stockholders agreed to vote in favor of the Issuance described in Item 4
during any Stockholder votes of the Issuer relating to the Issuance. In
addition, the Stockholders agreed that they would not sell, transfer or
otherwise dispose of their respective shares of Common Stock or enter into
any contract or other arrangement to transfer those shares to any person,
unless that person agreed to be bound to the terms of the Voting Agreement.
On September 29, 2006, the Issuer, ValueAct Master Fund and MLF entered into
a Registration Rights Agreement. Under the terms of the Registration Rights
Agreement, the Issuer agreed to file and keep effective a shelf registration
statement with respect to Convertible Preferred Stock and Common Stock to be
issued in connection with the Securities Purchase Agreement ("Registrable
Securities"). The Registration Rights Agreement also provides piggyback and
underwritten registration rights for the Registrable Securities under certain
circumstances. The dividend rate or accretion rate applicable to Convertible
Preferred Stock will be increased by 0.50% if (1) the Issuer does not file a
Shelf Registration Statement within 60 days after the Conversion, (2) the
shelf registration statement has not been declared effective by the
Securities and Exchange Commission within 120 days of that filing deadline or
(3) the Issuer fails to keep effective the shelf registration period, subject
to certain exceptions. The Issuer has also agreed to pay all fees and
expenses of registration of the Registrable Securities other than
underwriting discounts and commissions.
The description of the Securities Purchase Agreement, the Notes, the
Registration Rights Agreement and the Voting Agreement set forth above is
qualified in its entirety by reference to the actual terms of the agreements,
which are attached as exhibits 10.1, 10.2, 10.5 and 10.6 to the Issuer's
Current Report on Form 8-K filing dated September 29, 2006 and are
incorporated herein by reference.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
A) Joint Filing Agreement
Page 11 of 14
SIGNATURE
After reasonable inquiry and to the best of his knowledge and
belief, the undersigned certifies 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 or its true and lawful attorney-in-fact and agent,
with full power of substitution and resubstitution, for him or it and in his
or its 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 or it 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 Master Fund L.P., by
VA Partners, L.L.C., its General Partner
By: /s/ George F. Hamel, Jr.
--------------------------------------
Dated: October 10, 2006 George F. Hamel, Jr., Managing Member
VA Partners, L.L.C.
By: /s/ George F. Hamel, Jr.
--------------------------------------
Dated: October 10, 2006 George F. Hamel, Jr., Managing Member
ValueAct Capital Management, L.P., by
ValueAct Capital Management, LLC its
General Partner
By: /s/ George F. Hamel, Jr.
--------------------------------------
Dated: October 10, 2006 George F. Hamel, Jr., Managing Member
ValueAct Capital Management, LLC
By: /s/ George F. Hamel, Jr.
--------------------------------------
Dated: October 10, 2006 George F. Hamel, Jr., Managing Member
Page 12 of 14
By: /s/ Jeffrey W. Ubben
--------------------------------------
Dated: October 10, 2006 Jeffrey W. Ubben, Managing Member
By: /s/ George F. Hamel, Jr.
--------------------------------------
Dated: October 10, 2006 George F. Hamel, Jr., Managing Member
By: /s/ Peter H. Kamin
--------------------------------------
Dated: October 10, 2006 Peter H. Kamin, Managing Member
Page 13 of 14
Exhibit 1
JOINT FILING UNDERTAKING
The undersigned parties hereby agree that the Schedule 13D filed herewith
(and any amendments thereto) relating to the Common Stock of SIRVA, Inc. 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 Master Fund L.P., by
VA Partners, L.L.C., its General Partner
By: /s/ George F. Hamel, Jr.
--------------------------------------
Dated: October 10, 2006 George F. Hamel, Jr., Managing Member
VA Partners, L.L.C.
By: /s/ George F. Hamel, Jr.
--------------------------------------
Dated: October 10, 2006 George F. Hamel, Jr., Managing Member
ValueAct Capital Management, L.P.,
by, ValueAct Capital Management, LLC
its General Partner
By: /s/ George F. Hamel, Jr.
--------------------------------------
Dated: October 10, 2006 George F. Hamel, Jr., Managing Member
ValueAct Capital Management, LLC
By: /s/ George F. Hamel, Jr.
--------------------------------------
Dated: October 10, 2006 George F. Hamel, Jr., Managing Member
By: /s/ Jeffrey W. Ubben
--------------------------------------
Dated: October 10, 2006 Jeffrey W. Ubben, Managing Member
By: /s/ George F. Hamel, Jr.
--------------------------------------
Dated: October 10, 2006 George F. Hamel, Jr., Managing Member
By: /s/ Peter H. Kamin
--------------------------------------
Dated: October 10, 2006 Peter H. Kamin, Managing Member
Page 14 of 14
12944922.1.BUSINESS