EXHIBIT 10.3
AMENDMENT NO. 1 TO SECURITYHOLDERS AGREEMENT
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This Amendment No. 1 to Securityholders Agreement (this "Amendment")
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is made as of September 30, 1997, by and among The Xxxxxxxx Companies, Inc., a
Delaware corporation formerly known as BrightView Communications Group, Inc.
(the "Company"), Xxxxxxxx Holdings, L.L.C., a Delaware limited liability company
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("Holdings"), and the other Persons executing this Amendment and listed on the
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Schedule of Investors attached hereto (each, an "Investor" and all of such
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Persons, collectively, the "Investors").
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The Company, Holdings and the Investors are parties to a
Securityholders Agreement, dated as of September 30, 1996 among the Company,
Holdings and the Investors (the "Securityholders Agreement"), and wish to amend
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the Securityholders Agreement as provided herein. The execution and delivery of
this Amendment is a condition to the obligations of the Company and the
Investors under the Contribution and Recapitalization Agreement, dated as of
September 30, 1997, by and among the Company and the Investors (the
"Contribution Agreement").
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In consideration of the mutual agreements set forth herein and in the
Contribution Agreement and other good and valuable consideration, the receipt
and sufficiency of which is hereby acknowledged, the parties hereto agree as
follows:
1. Section 2.1(b) of the Securityholders Agreement is hereby
deleted.
2. The fourth sentence of Section 2.3 of the Securityholders
Agreement is hereby amended and restated to read in its entirety as set forth
below:
"Such proxies and powers shall be irrevocable, subject only to Section
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2.5 below."
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3. The following is added as Section 2.5 of the Securityholders
Agreement: amended and restated to read in its entirety as set forth below:
"2.5 TERMINATION OF VOTING AGREEMENTS. The provisions of this
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Article II shall terminate automatically and be of no further force or
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effect as of the day twenty-one (21) calendar months after the
consummation of the Contribution Transactions, as defined in the
Contribution and Recapitalization Agreement, dated as of September 30,
1997, among The Xxxxxxxx Companies, Inc., Xxxxxx Xxxxx, Nassau Capital
Partners II, L.P., NAS Partners I, L.L.C. and the other Persons listed
on the Schedule of Investors attached thereto, as amended.
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4. The following is added as Section 6.1(f) of the Securityholders
Agreement:
"(f) The provisions of this Section 6.1 shall terminate automatically
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and be of no further force or effect upon a Qualified IPO."
5. This Amendment may be executed in two or more counterparts, all
of which taken together will constitute one and the same agreement.
* * * * *
IN WITNESS WHEREOF, the parties hereto have executed this Amendment
No.1 to Securityholders Agreement as of the date first written above.
THE XXXXXXXX COMPANIES, INC.
By: /s/ Xxxxxxx X Xxxxxx
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Name: Xxxxxxx X Xxxxxx
Title: Executive Vice President and Chief
Financial Officer
XXXXXXXX HOLDINGS, L.L.C.
By: The Xxxxxxxx Companies, Inc.
Its: Manager
By: /s/ Xxxxxxx X. Xxxxxx
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Name: Xxxxxxx X. Xxxxxx
Title: Executive Vice President and Chief
Financial Officer
XXXXXX XXXXX & PARTNERS, L.P.
By: Xxxxxx Xxxxx & Partners, L.L.C.
Its: General Partner
By: /s/ Xxxxxx X. Xxxxxxxxxx
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Name: Xxxxxx X. Xxxxxxxxxx
Title: Managing Director
NASSAU CAPITAL PARTNERS II, L.P.
By: Nassau Capital, L.L.C.
Title: General Partner
By: /s/ Xxxx X. Xxxxxxx
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Name: Xxxx X. Xxxxxxx
Title: Member
NAS PARTNERS I, L.L.C.
By: /s/ Xxxx X. Xxxxxxx
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Name: Xxxx X. Xxxxxxx
Title: Member
[Signature Page to Amendment No. 1 to Securityholders Agreement]
XXXXXXXX PROPERTIES
By: /s/ Xxxxxx X. Xxxxxxxx
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Name: Xxxxxx X. Xxxxxxxx
Title: Chairman of the Board
CHASE EQUITY ASSOCIATES, L.P.
By: Chase Capital Partners
Its: General Partner
By: /s/ Xxxxx X. Xxxxxxxx
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Name: Xxxxx X. Xxxxxxxx
Title: General Partner
BANKAMERICA INVESTMENT CORPORATION
By: /s/ Xxxxxxxxxxx X. Xxxxx
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Name: Xxxxxxxxxxx X. Xxxxx
Title: Managing Director
CIVC PARTNERS II
By: /s/ Xxxxxxxxxxx X. Xxxxx
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Name: Xxxxxxxxxxx X. Xxxxx
Title: A General Partner
CIBC WG ARGOSY MERCHANT FUND 2, L.L.C.
By: /s/ Xxx Xxxxxx
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Name: Xxx Xxxxxx
Title: Managing Director
ALLSTATE INSURANCE COMPANY
By: /s/ Xxxx X. Goesne
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Name: Xxxx X. Goesne
[Signature Page to Amendment No. 1 to Securityholders Agreement]
By: /s/ Xxxxx X. Xxxxx
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Name: Xxxxx X. Xxxxx
Title: Authorized Signatories
FUI, INC.
By: /s/ Xxxxx X. Xxxxxx
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Name: Xxxxx X. Xxxxxx
Title: Senior Vice President
NORWEST EQUITY CAPITAL, L.L.C.
By: Itasca NEC, L.L.C.
Its: Managing Member
By: /s/ X.X. Xxxxxxx
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Name: X.X. Xxxxxxx
Title: Managing Member
/s/ Xxxxx X. Xxxxxxx, Xx.
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Xxxxx X. Xxxxxxx, Xx.
THE XXXXXXXX X. XXXXX AND XXXXX XXXXX
TRUST
By: /s/ Xxxxxxxx X. Xxxxx
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Name: Xxxxxxxx X. Xxxxx
Title: Trustee
/s/ Xxxxxx Xxxx
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Xxxxxx Xxxx
/s/ Xxxxxx X. Xxxxxxx
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Xxxxxx X. Xxxxxxx
/s/ Xxxxx Xxxx
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Xxxxx Xxxx
/s/ Xxxxxxx Xxxxxxx
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Xxxxxxx Xxxxxxx
[Signature Page to Amendment No. 1 to Securityholders Agreement]
/s/ X. Xxxxxx Xxxxxxxxxx
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X. Xxxxxx Xxxxxxxxxx
/s/ Xxxx Xxxxxx
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Xxxx Xxxxxx
/s/ Xxxxxxx X. Xxxxxx
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Xxxxxxx X. Xxxxxx
/s/ Xxxx Xxxxxx
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Xxxx Xxxxxx
/s/ Xxxxxxx X. Xxxxx
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Xxxxxxx X. Xxxxx
/s/ Xxxx Xxxxxxxxx
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Xxxx Xxxxxxxxx
/s/ Xxxxx Xxxxx
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Xxxxx Xxxxx
/s/ Xxx Xxxxxxx
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Xxx Xxxxxxx
/s/ Xxx Xxxxxx
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Xxx Xxxxxx
/s/ Xxxxxxx Xxxxxxxxx
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Xxxxxxx Xxxxxxxxx
/s/ Xxxxxx XxXxxxxxx
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Xxxxxx XxXxxxxxx
[Signature Page to Amendment No. 1 to Securityholders Agreement]
XXXX XXXXXX XXXXXXXX, Custodian for Xxxxxx
XxXxxxxxx XXX Rollover
By: /s/ Xxxxxxx X. Xxxxx
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Name: Xxxxxxx X. Xxxxx
Title: Branch Manager
MLPF&S, Custodian FPO Xxxxx Xxxxxxx XXX FBO
Xxxxx Xxxxxxx
By: /s/ Xxxxx X. Xxxxxxx
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Name: Xxxxx X. Xxxxxxx
Title: Assistant Vice President
/s/ Xxxxxxxxx Xxxxxxx
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Xxxxxxxxx Xxxxxxx
/s/ Xxx Xxxxxxx
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Xxx Xxxxxxx
