AMENDMENT NO. 7 TO STOCKHOLDERS AGREEMENT
AMENDMENT NO. 7, dated as of January 1, 1998 to the Stockholders
Agreement, dated as of April 30, 1996, as amended (the "Stockholders
Agreement"), by and among AMF BOWLING, INC., a Delaware corporation formerly
named AMF Holdings Inc. ("Bowling"), GS CAPITAL PARTNERS II, L.P., a Delaware
limited partnership, GS CAPITAL PARTNERS II OFFSHORE, L.P., a Cayman Islands
exempt limited partnership, XXXXXXX XXXXX & CO. VERWALTUNGS GMBH, a corporation
recorded in the Commercial Register Frankfurt, as nominee for GS Capital
Partners II German C.L.P., THE XXXXXXX SACHS GROUP, L.P., a Delaware limited
partnership, STONE STREET FUND 1995, L.P., a Delaware limited partnership, STONE
STREET 1996, L.P., a Delaware limited partnership, XXXXXX XXXXXX XXXX 0000,
L.P., a Delaware limited partnership, XXXXXX XXXXXX XXXX 0000, L.P., a Delaware
limited partnership, BLACKSTONE CAPITAL PARTNERS II MERCHANT BANKING FUND L.P.,
a Delaware limited partnership, BLACKSTONE OFFSHORE CAPITAL PARTNERS II L.P., a
Delaware limited partnership, BLACKSTONE FAMILY INVESTMENT PARTNERSHIP L.P., a
Delaware limited partnership, BLACKSTONE FAMILY INVESTMENT PARTNERSHIP II, L.P.,
a Delaware limited partnership, XXXXX INVESTMENT ASSOCIATES V, L.P., a Delaware
limited partnership, XXXXX EQUITY PARTNERS V, L.P., a Delaware limited
partnership, XXXX CAPITAL FUND V, L.P., a Delaware limited partnership, XXXX
CAPITAL FUND V-B, L.P., a Delaware limited partnership, BCIP ASSOCIATES, a
Delaware general partnership, BCIP TRUST ASSOCIATES, L.P., a Delaware limited
partnership, CITICORP NORTH AMERICA, INC., a Delaware corporation, XXXXXXX X.
XXXXX, the management investors listed in Schedule I to the Stockholders
Agreement, as such Schedule I may be amended from time to time (collectively,
the "Management Investors") and all other parties thereto.
WHEREAS, the Board of Directors of Bowling has recommended that the
Stockholders Agreement be amended in certain respects; and
WHEREAS, pursuant to and in accordance with Section 3.9 of the
Stockholders Agreement, Bowling and Stockholders holding a majority of the
outstanding shares of Common Stock of Bowling wish to amend the Stockholders
Agreement on the terms contained herein, it being understood that such
amendments do not affect the rights and obligations of any Stockholder
differently from any other Stockholder or adversely affect the Management
Investors (or a group thereof as a class);
NOW, THEREFORE, the Stockholders Agreement is amended as follows:
1. Defined Terms. Capitalized terms used and not defined herein shall
have the meanings assigned to them in the Stockholders Agreement.
2. Name of Company. Unless the context otherwise requires, when used in
the Stockholders Agreement, references to "AMF Holdings Inc." and "Holdings"
shall be deemed to be references to "AMF Bowling, Inc." and "Bowling," as the
case may be.
3. Amendment to Section 1.1.6. The last sentence of Section 1.1.6 of
the Stockholders Agreement shall be deleted and the following shall be
substituted therefor:
"No member of the Board who is an employee of Bowling or an
employee, partner or stockholder of GSCP shall receive any
compensation or benefit (other than reimbursement of
reasonable out-of-pocket expenses contemplated by the
preceding sentence) from Bowling or any subsidiary of Bowling
for serving as a member of the Board or for performing his or
her duties as a director of Bowling; each other member of the
Board shall be entitled to receive a fee of $2,000 for each
Board meeting attended in person and a fee of $1,000 for each
meeting of the Audit Committee, Compensation Committee
(including any Subcommittee thereof), Executive Committee or
other standing committee of the Board attended in person."
4. Amendment to Section 1.1.7. The first sentence of Section 1.1.7 of
the Stockholders Agreement shall be deleted and the following shall be
substituted therefor:
"At all times during the term of this Agreement there shall be
an executive committee of the Board (the "Executive
Committee") which shall consist of three members, two of whom
shall be a GSCP Director and the other of whom shall be the
President and Chief Executive Officer of Bowling."
5. Amendments to Section 1.1.8. The reference to "2,877,151 shares" in
clause (y)(ii) of Section 1.1.8(b) of the Stockholders Agreement shall be
deleted and "4,877,151 shares" shall be substituted therefor.
6. Governing Law. This Amendment shall be governed and construed and
enforced in accordance with the laws of the State of New York, without regard to
principles of conflicts of laws thereof.
7. Reaffirmation. In all respects not inconsistent with the terms and
provisions of this Amendment No. 7, the Stockholders Agreement shall continue to
be in full force and effect in accordance with the terms and conditions thereof,
and is hereby ratified, adopted, approved and confirmed. From and after the date
hereof, each reference to the Stockholders Agreement in any other instrument or
document shall be deemed a reference to the Stockholders Agreement as amended
hereby, unless the context otherwise requires.
8. No Waiver. The execution, delivery and performance of this Amendment
No. 7 shall not operate as a waiver of any condition, power, remedy or right
exercisable in accordance with the Stockholders Agreement, and shall not
constitute a waiver of any provision of the Stockholders Agreement, except as
expressly provided herein.
IN WITNESS WHEREOF, the parties hereto have caused this Amendment No. 7
to be duly executed as of the date first written above.
AMF BOWLING, INC.
By: /s/ Xxxxxxx X. Xxxxxxx
---------------------------------------
Name: Xxxxxxx X. Xxxxxxx
Title: President & CEO
Address: AMF Bowling, Inc.
0000 XXX Xxxxx
Xxxxxxxx, Xxxxxxxx 00000
Telecopier No.: (000) 000-0000
GS CAPITAL PARTNERS II, L.P.
By: GS Advisors, L.P.
General Partner
By: GS Advisors Inc., its General
Partner
By: /s/ Xxxxxxx X. Xxxxxxxx
---------------------------------------
Name: Xxxxxxx X. Xxxxxxxx
Title: President
Address: c/o Goldman, Sachs & Co.
00 Xxxxx Xxxxxx
Xxx Xxxx, XX 00000
Attn: Xxxxx X. Xxxxxxxxx
Telecopier No.: (000) 000-0000
GS CAPITAL PARTNERS II OFFSHORE, L.P.
By: GS Advisors II (Cayman), L.P.
General Partner
By: GS Advisors II, Inc., its
General Partner
By: /s/ Xxxxxxx X. Xxxxxxxx
---------------------------------------
Name: Xxxxxxx X. Xxxxxxxx
Title: President
Address: c/o Goldman, Sachs & Co.
00 Xxxxx Xxxxxx
Xxx Xxxx, XX 00000
Attn: Xxxxx X. Xxxxxxxxx
Telecopier No.: (000) 000-0000
XXXXXXX, SACHS & CO. VERWALTUNGS GMBH
By: /s/ Xxxxxxx X. Xxxxxxxx
---------------------------------------
Name: Xxxxxxx X. Xxxxxxxx
Title: Managing Director
By: /s/ Xxxxx X. Xxxxxxxxx
---------------------------------------
Name: Xxxxx X. Xxxxxxxxx
Title: Registered Agent
Address: c/o Goldman, Xxxxx & Co.
00 Xxxxx Xxxxxx
Xxx Xxxx, XX 00000
Attn: Xxxxx X. Xxxxxxxxx
Telecopier No.: (000) 000-0000
THE XXXXXXX XXXXX GROUP, L.P.
By: /s/ Xxxxxxx X. Xxxxxxxx
---------------------------------------
Name: Xxxxxxx X. Xxxxxxxx
Title: Partner
Address: c/o Goldman, Sachs & Co.
00 Xxxxx Xxxxxx
Xxx Xxxx, XX 00000
Attn: Xxxxx X. Xxxxxxxxx
Telecopier No.: (212) 357-5505
STONE STREET FUND 1995, L.P.
By: Stone Street Value Corp., its
General Partner
By: /s/ Xxxxxxx X. Xxxxxxxx
---------------------------------------
Name: Xxxxxxx X. Xxxxxxxx
Title: Vice President
Address: c/o Goldman, Xxxxx & Co.
00 Xxxxx Xxxxxx
Xxx Xxxx, XX 00000
Attn: Xxxxx X. Xxxxxxxxx
Telecopier No.: (212) 357-5505
XXXXX XXXXXX XXXX 0000, X.X.
By: Stone Street Empire Corp., its
General Partner
By: /s/ Xxxxxxx X. Xxxxxxxx
---------------------------------------
Name: Xxxxxxx X. Xxxxxxxx
Title: Vice President
Address: c/o Goldman, Xxxxx & Co.
00 Xxxxx Xxxxxx
Xxx Xxxx, XX 00000
Attn: Xxxxx X. Xxxxxxxxx
Telecopier No.: (000) 000-0000
XXXXXX XXXXXX XXXX 0000, X.X.
By: Stone Street Value Corp., its
Managing General Partner
By: /s/ Xxxxxxx X. Xxxxxxxx
---------------------------------------
Name: Xxxxxxx X. Xxxxxxxx
Title: Vice President
Address: c/o Goldman, Xxxxx & Co.
00 Xxxxx Xxxxxx
Xxx Xxxx, XX 00000
Attn: Xxxxx X. Xxxxxxxxx
Telecopier No.: (000) 000-0000
XXXXXX XXXXXX XXXX 0000, X.X.
By: Stone Street Empire Corp., its
Managing General Partner
By: /s/ Xxxxxxx X. Xxxxxxxx
---------------------------------------
Name: Xxxxxxx X. Xxxxxxxx
Title: Vice President
Address: c/o Goldman, Xxxxx & Co.
00 Xxxxx Xxxxxx
Xxx Xxxx, XX 00000
Attn: Xxxxx X. Xxxxxxxxx
Telecopier No.: (000) 000-0000
BLACKSTONE CAPITAL PARTNERS II MERCHANT
BANKING FUND L.P.
By: Blackstone Management Associates II
L.L.C., its General Partner
By: /s/ Xxxxxx X. Xxxxxx
---------------------------------------
Name: Xxxxxx X. Xxxxxx
Title: Member
Address: 000 Xxxx Xxxxxx
00xx Xxxxx
Xxx Xxxx, XX 00000
Attn: Xxxxxx X. Xxxxxx
Telecopier No.: (000) 000-0000
BLACKSTONE OFFSHORE CAPITAL PARTNERS
II L.P.
By: Blackstone management Associates
II L.L.C., its General Partner
By: /s/ Xxxxxx X. Xxxxxx
---------------------------------------
Name: Xxxxxx X. Xxxxxx
Title: Member
Address: 000 Xxxx Xxxxxx
00xx Xxxxx
Xxx Xxxx, XX 00000
Attn: Xxxxxx X. Xxxxxx
Telecopier No.: (000) 000-0000
BLACKSTONE FAMILY INVESTMENT
PARTNERSHIP L.P.
By: Blackstone Management Associates
II L.L.C., its General Partner
By: /s/ Xxxxxx X. Xxxxxx
---------------------------------------
Name: Xxxxxx X. Xxxxxx
Title: Member
Address: 000 Xxxx Xxxxxx
00xx Xxxxx
Xxx Xxxx, XX 00000
Attn: Xxxxxx X. Xxxxxx
Telecopier No.: (000) 000-0000
BLACKSTONE FAMILY INVESTMENT
PARTNERSHIP II, L.P.
By: Blackstone Management Associates
II L.L.C., its General Partner
By: /s/ Xxxxxx X. Xxxxxx
---------------------------------------
Name: Xxxxxx X. Xxxxxx
Title: Member
Address: 000 Xxxx Xxxxxx
00xx Xxxxx
Xxx Xxxx, XX 00000
Attn: Xxxxxx X. Xxxxxx
Telecopier No.: (000) 000-0000
XXXXX INVESTMENT ASSOCIATES V, L.P.
By: Xxxxx Partners V, L.P., its
General Partner
By: /s/ Xxxxxx X. Xxxx, XX
---------------------------------------
Name: Xxxxxx X. Xxxx, XX
Title: General Partner
Address: 000 Xxxx Xxxxxx, 00xx Xxxxx
Xxx Xxxx, XX 00000
Attn: Xxxxx X. Xxxxxxx, XX
Telecopier No.: (000) 000-0000
XXXXX EQUITY PARTNERS V, L.P.
By: /s/ Xxxxxx X. Xxxx, XX
---------------------------------------
Name: Xxxxxx X. Xxxx, XX
Title:General Partner
Address: 000 Xxxx Xxxxxx, 00xx Xxxxx
Xxx Xxxx, XX 00000
Attn: Xxxxx X. Xxxxxxx, XX
Telecopier No.: (000) 000-0000
XXXX CAPITAL FUND V, L.P.
By: Xxxx Capital Partners V, L.P., its
General Partner
By: Xxxx Capital Investors V, Inc., its
General Partner
By: /s/ Xxxx X. Xxxxxxxx
---------------------------------------
Name: Xxxx X. Xxxxxxxx
Title: Managing Director
Address: 0 Xxxxxx Xxxxx
Xxxxxx, XX 00000
Attn: Xxxx Xxxxxxxx
Telecopier No.: (000) 000-0000
XXXX CAPITAL FUND V-B, L.P.
By: Xxxx Capital Partners V, L.P., its
General Partner
By: Xxxx Capital Investors V, Inc., its
General Partner
By: /s/ Xxxx X. Xxxxxxxx
---------------------------------------
Name: Xxxx X. Xxxxxxxx
Title: Managing Director
Address: 0 Xxxxxx Xxxxx
Xxxxxx, XX 00000
Attn: Xxxx Xxxxxxxx
Telecopier No.: (000) 000-0000
BCIP ASSOCIATES
By: /s/ Xxxx X. Xxxxxxxx
---------------------------------------
Name: Xxxx X. Xxxxxxxx
Title: A General partner
Address: 0 Xxxxxx Xxxxx
Xxxxxx, XX 00000
Attn: Xxxx Xxxxxxxx
Telecopier No.: (000) 000-0000
BCIP TRUST ASSOCIATES, L.P.
By: /s/ Xxxx X. Xxxxxxxx
---------------------------------------
Name: Xxxx X. Xxxxxxxx
Title: General Partner
Address: 0 Xxxxxx Xxxxx
Xxxxxx, XX 00000
Attn: Xxxx Xxxxxxxx
Telecopier No.: (000) 000-0000
CITICORP NORTH AMERICA, INC.
By: /s/ Jeroen Fikke
---------------------------------------
Name: Jeroen Fikke
Title: Vice President
Address: 000 Xxxx Xxxxxx, 0xx Xxxxx
Xxx Xxxx, XX 00000
Attn: Jeroen Fikke
Telecopier No.: (000) 000-0000
XXXXXXX XXXXXXX XXXXX FUND INC.
By: /s/ Xxxxxxx Xxxxx
---------------------------------------
Name: Xxxxxxx Xxxxx
Title: President
Address: c/o Xxxxxxx Xxxxx
Xxxxxxx Xxxxx Associates
Xxx Xxx Xxxx Xxxxx, 00xx Xxxxx
Xxx Xxxx, Xxx Xxxx 00000
Telecopier No.: (000) 000-0000
/s/ Xxxxxxx Xxxxx
---------------------------------------
Xxxxxxx Xxxxx
Address: c/o Xxxxxxx Xxxxx
Xxxxxxx Xxxxx Associates
Xxx Xxx Xxxx Xxxxx, 00xx Xxxxx
Xxx Xxxx, Xxx Xxxx 00000
Telecopier No.: (000) 000-0000
XXXXXXX XXXXX & XXXXXXX XXXXX
TRUSTEES FOR XXXXXXXX XXXXX XXXXX
AUG. 31, 1987 TRUST
By: /s/ Xxxxxxx Xxxxx
---------------------------------------
Xxxxxxx Xxxxx, Trustee
By: /s/ Xxxxxxx Xxxxx
---------------------------------------
Xxxxxxx Xxxxx, Trustee
Address: c/o Xxxxxxx Xxxxx
Xxxxxxx Xxxxx Associates
Xxx Xxx Xxxx Xxxxx, 00xx Xxxxx
Xxx Xxxx, Xxx Xxxx 00000
Telecopier No.: (000) 000-0000
XXXXXXX XXXXX & XXXXXXX XXXX
TRUSTEES FOR XXXX XXXXXX DIKER
AUG. 4, 1987 TRUST
By: /s/ Xxxxxxx Xxxxx
---------------------------------------
Xxxxxxx Xxxxx, Trustee
By: /s/ Xxxxxxx Xxxxx
---------------------------------------
Xxxxxxx Xxxxx, Trustee
Address: c/o Xxxxxxx Xxxxx
Xxxxxxx Xxxxx Associates
Xxx Xxx Xxxx Xxxxx, 00xx Xxxxx
Xxx Xxxx, Xxx Xxxx 00000
Telecopier No.: (000) 000-0000
XXXXXXX XXXXX & XXXXXXX XXXXX
TRUSTEES FOR XXXXX XXXXXX XXXXX
OCT. 1, 1987 TRUST
By: /s/ Xxxxxxx Xxxxx
---------------------------------------
Xxxxxxx Xxxxx, Trustee
By: /s/ Xxxxxxx Xxxxx
---------------------------------------
Xxxxxxx Xxxxx, Trustee
Address: c/o Xxxxxxx Xxxxx
Xxxxxxx Xxxxx Associates
Xxx Xxx Xxxx Xxxxx, 00xx Xxxxx
Xxx Xxxx, Xxx Xxxx 00000
Telecopier No.: (000) 000-0000
/s/ Xxxxxxx X. Xxxxx
----------------------------------------
Xxxxxxx X. Xxxxx
Xxxxxxx X. Xxxxx Associates
Xxx Xxx Xxxx Xxxxx, 00xx Xxxxx
Xxx Xxxx, XX 00000
Telecopier No.: (000) 000-0000
/s/ Xxxxxxx X. Xxxxxxx
----------------------------------------
Xxxxxxx X. Xxxxxxx
0000 Xxxxxxxx Xxxxxx
Xxxxxxxx, XX 00000
Telecopier No.: (000) 000-0000
/s/ Xxxxxxx X. Xxxx
----------------------------------------
Xxxxxxx X. Xxxx
000 Xxxxxxxxx Xxxxx
Xxxxxxxx, XX 00000
