Exhibit 2.2
FIRST AMENDMENT TO STOCK PURCHASE AGREEMENT
FIRST AMENDMENT (the "First Amendment") dated as of August 25, 1998 by and
among Xxxxx Advertising Company, a Delaware corporation ("Buyer"), Outdoor
Communications, Inc., a Delaware corporation (the "Company"), and each of the
stockholders of the Company (the "Stockholders").
WHEREAS Buyer, the Company and each of the Stockholders are parties to that
certain Stock Purchase Agreement dated as of August 10, 1998 (the "Agreement")
pursuant to which each of the Stockholders has agreed to sell to Buyer, and
Buyer has agreed to purchase, all of the Company Securities held by such
Stockholder; and
WHEREAS Buyer, the Company and the Stockholders desire to amend Exhibit A
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to the Agreement in accordance with the provisions of Section 11.7 of the
Agreement to provide the correct the number of shares of Series A Preferred
Stock of the Company held by certain Stockholders listed on such Exhibit A.
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NOW, THEREFORE, for good and valuable consideration, the undersigned hereby
agree as follows:
1. Capitalized terms not otherwise defined herein shall have the meanings
ascribed to such terms in the Agreement.
2. The Agreement is hereby amended, as of the effective date of this
First Amendment, by deleting Exhibit A thereto in its entirety and substituting
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therefor Exhibit A attached hereto.
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3. Section 3.3(iii) of the Agreement is hereby amended, as of the
effective date of this First Amendment by deleting the number "186,130.52"
therefrom and substituting therefor "186,220.93".
4. The effective date of this Amendment shall be the date first set forth
above.
5. As amended by this First Amendment, the Agreement is in all respects
ratified and confirmed, and as so amended by this First Amendment, the Agreement
shall be read, taken and construed as one and the same instrument.
6. This Amendment may be executed in any number of counterparts and by
the parties hereto in separate counterparts, each of which so executed shall be
deemed to be an original, but all of such counterparts shall together constitute
but one and the same instrument.
7. This Amendment shall be governed in accordance with the laws of the
State of Delaware without regard to principles of conflicts of law.
IN WITNESS WHEREOF the parties hereto have caused this First Amendment to be
executed as of the date set forth above by their duly authorized
representatives.
BUYER:
XXXXX ADVERTISING COMPANY
By: /s/ Xxxxx X. Xxxxx
------------------------------
Title: Chief Financial Officer
------------------------
COMPANY:
OUTDOOR COMMUNICATIONS, INC.
By: /s/ Xxxx X. Xxxxxxx XX
-----------------------------
Xxxx X. Xxxxxxx XX, Chairman
STOCKHOLDERS:
By: /s/ Xxxx X. Xxxxxxx XX
-----------------------------
Xxxx X. Xxxxxxx XX, on behalf
of each of the Stockholders,
in his capacity as a
Stockholders' Representative
By: /s/ Xxxxxxx X. Xxxxxxx
-----------------------------
Xxxxxxx X. Xxxxxxx, on behalf
of each of the Stockholders,
in his capacity as a
Stockholders' Representative
EXHIBIT A
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Shares of Shares Shares of
Name and Address of Class A of Class Series A Preferred Option Pro Rata Indemnification Cap Amount
Stockholder Common B Common Preferred LLC Interests Shares Share
Stock+ Stock Stock
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Media/Communications II Limited 3,227.67 2,017.29 104,990.98 -- -- 41.2080452% $4,120,804.52
Partnership
x/x Xxxxx/Xxxxxxxxxxxxxx Xxxxxxxx
00 Xxxxx Xxxxxx
Xxxxxx, XX 00000
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Chase Venture Capital 2,048.57 1,587.94 72,793.75 -- -- 28.5709459% $2,857,094.59
Associates, L.P.
c/o Chase Capital Partners
000 Xxxxxxx Xxxxxx
00xx Xxxxx
Xxx Xxxx, XX 00000
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Xxxx X Xxxxxxx XX 1092.16 -- -- 2,388,127.71 212 10.2463859% $1,024,638.59
0000 Xxxxxx Xxxx
Xxxxxxx, XX 00000
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X.X. Xxxxxx 938 -- -- 2,082,385.76 120 8.3123821% $ 831,238.21
0000 Xxxxxx Xxxx
Xxxxxxx, XX 00000
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Media/Communications Investors 134.49 84.05 4,374.63 -- -- 1.7170019% $ 171,700.19
Limited Partnership
c/o Media/Communications Partners
00 Xxxxx Xxxxxx
Xxxxxx, XX 00000
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Shares of Shares Shares of
Name and Address of Class A of Class Series A Preferred Option Pro Rata Indemnification Cap Amount
Stockholder Common B Common Preferred LLC Interests Shares Share
Stock+ Stock Stock
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The JCS Trust 98.19 -- -- 194,737.40 -- 0.7714488% $ 77,144.88
c/o Xxxx X Xxxxxxx XX, Trustee
0000 Xxxxxx Xxxx
Xxxxxxx, XX 00000
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JCS Trust No. 2 56 -- -- -- -- 0.4399749% $ 43,997.49
c/o Lenoir X. Xxxxxxx, Trustee
0000 Xxxxxx Xxxx
Xxxxxxx, XX 00000
or
c/o Xxxxxxxxx X. Xxxxxx, Trustee
000 Xxxxxxx Xxxx
Xxxxxxx, XX 00000
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The LWS Trust 98.19 -- -- 194,737.40 -- 0.7714488% $ 77,144.88
c/o Lenoir X. Xxxxxxx, Trustee
0000 Xxxxxx Xxxx
Xxxxxxx, XX 00000
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LWS Trust No. 2 56 -- -- -- -- 0.4399749% $ 43,997.49
c/o Xxxx X Xxxxxxx XX, Trustee
0000 Xxxxxx Xxxx
Xxxxxxx, XX 00000
or
c/o Xxxxxxxxx X. Xxxxxx, Trustee
000 Xxxxxxx Xxxx
Xxxxxxx, XX 00000
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Xxxxxxxxx X. Xxxxxx 87.50 -- -- 173,532.17 -- 0.6874607% $ 68,746.07
000 Xxxxxxx Xxxx
Xxxxxxx, XX 00000
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Xxxxxxx Xxxx Xxxxx 87.50 -- -- 173,532.17 -- 0.6874607% $ 68,746.07
0000 Xxxx Xxxxxxx Xxxxx
Xxxxxxx, XX 00000
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Shares of Shares Shares of
Name and Address of Class A of Class Series A Preferred Option Pro Rata Indemnification Cap Amount
Stockholder Common B Common Preferred LLC Interests Shares Share
Stock+ Stock Stock
------------------------------------------------------------------------------------------------------------------------------------
Xxxxxxx X. Xxxxxx, Xx. 87.50 -- -- 173,532.17 -- 0.6874607% $ 68,746.07
00 Xxxxx Xxxx Xxxx
Xxxxxxx, XX 00000
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G. Xxxxxx Xxxxxx 68.50 -- 1,018.24 -- 40 0.8524513% $ 85,245.13
0000 Xxxxxxxxx Xxxxxx
Xxxxxxx, XX 00000
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Xxxxxx X. Xxxxx 52.50 -- 1,018.24 -- 40 0.7267442% $ 72,674.42
0000 Xxxxxx Xxxxx Xxxx
Xxxxxxx, XX 00000
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Xxxxxx Xxxxxx 79.95 -- 1,030.31 103,031.12 -- 0.6281427% $ 62,814.27
000 X. Xxxxxx Xxxxxx
Xxxxxxx, XX 00000
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Xxxx X. Xxxxxxxx 35.00 -- 665.48 -- 40 0.5892520% $ 58,925.20
0000 Xxxxxxxxxx
Xxxxxxxx Xxxx, XX 00000
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Xxxx Xxxxxxx 35.00 -- 665.48 -- 40 0.5892520% $ 58,925.20
000 X. 00xx Xxxxxx
Xxxxxxxxxx, XX 00000
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Xxxxx X. Xxxxxx 16.00 -- -- -- 89 0.8249529% $ 82,495.29
0000 Xxxxxxx Xxxx
Xxxxxxx, XX 00000
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Xxxxxxx Xxxxxxxx 35.00 -- 694.13 -- 40 0.5892520% $ 58,925.20
0000 Xxxxxxxxx
Xxxxxxxx Xxxx, XX 00000
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Xxxxxx X. Xxxxxx 28 -- -- -- -- 0.2199874% $ 21,998.74
0000 Xxxxxxx Xxxxx
Xxxxxxxxxx, XX 00000
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Shares of Shares Shares of
Name and Address of Class A of Class Series A Preferred Option Pro Rata Indemnification Cap Amount
Stockholder Common B Common Preferred LLC Interests Shares Share
Stock+ Stock Stock
------------------------------------------------------------------------------------------------------------------------------------
Xxxx Xxxxxx 28 -- -- -- -- 0.2199874% $ 21,998.74
0000 Xxxxxxx Xxxxx
Xxxxxxxxx, XX 00000
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Xxxxx X. Xxxxxx 28 -- -- -- -- 0.2199874% $ 21,998.74
X.X. Xxx 000
Xxxxxxxxxx, XX 00000
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