AMENDMENT TO LIMITED LIABILITY COMPANY AGREEMENT OF ATC HOLDCO, LLC
Exhibit 10.2
AMENDMENT TO
LIMITED LIABILITY COMPANY AGREEMENT
OF
ATC HOLDCO, LLC
Date: September 25, 2013
Parties: TRP III (ATC) I, LP, a Delaware limited partnership
TRP III (ATC) II, LP, a Delaware limited partnership
PAG INVESTMENTS, LLC, a Delaware limited liability company
XXXXXXXX-XXXXX HOLDINGS, INC., a Texas corporation
Recitals:
A. At a duly called meeting, the Board of ATC HOLDCO, LLC, a Delaware limited liability company (the “Company”), unanimously voted to increase the size of the Board to seven members and to appoint Xxxxxx Xxxxxxxx to serve on the Board, as an independent member, effective immediately.
B. The parties hereto own a majority of the outstanding Units of the Company and desire to amend that certain Amended and Restated Limited Liability Company Agreement of ATC Holdco, LLC, dated as June 10, 2013 (the “LLC Agreement”) (i) to provide for the increase in the size of the Board to seven members, with the seventh member to be elected by a majority of the votes TRP I, TRP II, Penske and M-B Holdings are entitled to cast, and (ii) to confirm the addition of Xxxxxx Xxxxxxxx as an independent member to serve on the Board.
C. The capitalized terms used in this Amendment have the meanings ascribed to them in the Agreement.
Agreement:
1. The first two sentences of Section 6.1(c) of the LLC Agreement are hereby amended to read as follows:
“Subject to the terms of this Agreement, the Board shall have seven members. The Board shall be constituted as follows:
(i) Three persons shall be designated collectively by TRP I and TRP II;
(ii) One person shall be designated by Penske;
(iii) One person shall be elected by a majority of the votes that TRP I, TRP II, Penske and M-B Holdings are entitled to cast; and
(iv) For so long as M-B Holdings and its Affiliates collectively own at least ten percent (10%) of the issued and outstanding Units, two persons shall be designated by M-B Holdings.”
2. The parties hereto acknowledge and confirm that they have elected Xxxxxx Xxxxxxxx to serve as a member of the Board.
3. Except as expressly amended hereby, the LLC Agreement shall remain in full force and effect.
[Signature page follows]
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TRP III (ATC) I, LP | ||
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By: |
Transportation Resource Management III, LLC, its General Partner | |
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By: |
/s/ Xxxxx X. Xxxxxx | |
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Name: |
Xxxxx X. Xxxxxx |
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Title: |
Managing Member |
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TRP III (ATC) II, LP | ||
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By: |
Transportation Resource Management III, LLC, its General Partner | |
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By: |
/s/ Xxxxx X. Xxxxxx | |
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Name: |
Xxxxx X. Xxxxxx |
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Title: |
Managing Member |
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PAG INVESTMENTS, LLC | ||
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By: |
/s/ Xxxxxx X. Xxxxxxxx | |
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Name: |
Xxxxxx X. Xxxxxxxx |
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Title: |
Vice President |
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XXXXXXXX-XXXXX HOLDINGS, INC. | ||
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By: |
/s/ Xxxx X. Xxxxxxxx, Xx. | |
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Name: |
Xxxx X. Xxxxxxxx, Xx. |
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Title: |
President and CEO |
