October 15, 2008 Mariner Partners, Inc. 500 Mamaroneck Avenue 4th Floor Harrison, New York 10528 Re: 409A Correction for Amended and Restated Voting Agreement Gentlemen:
Exhibit 10.70
October 15, 2008
Mariner Partners, Inc.
000 Xxxxxxxxxx Xxxxxx
0xx Xxxxx
Xxxxxxxx, Xxx Xxxx 00000
000 Xxxxxxxxxx Xxxxxx
0xx Xxxxx
Xxxxxxxx, Xxx Xxxx 00000
Re: 409A Correction for Amended and Restated Voting Agreement
Gentlemen:
Reference is made to (a) the Amended and Restated Voting Agreement dated as of October 12, 2005, a
copy of which is attached hereto as Exhibit A (the “Amended and Restated Voting
Agreement), and (b) the Amended and Restated Voting Agreement dated as of October 15, 2008, a
copy of which is attached hereto as Exhibit B (the “2008 Voting Agreement).
Whereas, the undersigned recognize that the Amended and Restated Voting Agreement and the
2008 Amended and Restated Voting Agreement are identical except for their different grant
dates for the stock options granted therein, and
Whereas, the undersigned mutually agree that, in order to better establish an exemption from
Code Section 409A, it is desirable to execute the 2008 Amended and Restated Voting Agreement
as a replacement for the stock option granted pursuant to the Amended and Restated Voting
Agreement.
In consideration of the foregoing (which the parties acknowledge to be due and adequate
consideration for the terms of this letter agreement), the undersigned hereby agree that, effective
immediately upon the execution of this letter agreement by you and the Participating Shareholders
(i) the 2008 Amended and Restated Voting Agreement shall become effective and the option contained
therein shall become exercisable by you in accordance with its terms, and (ii) the Amended and
Restated Voting Agreement will terminate and become null and void, and your right to exercise the
option contained therein, whether vested or unvested, shall immediately, irrevocably, and
permanently terminate.
This letter agreement may be signed in two or more counterparts, each of which shall be deemed an
original and all of which together shall constitute one and the same instrument.
[Signature page follows]
Date: October 15, 2008 | PARTICIPATING SHAREHOLDERS | |||||||
ACKNOLWEDGED AND AGREED: | /s/ Xxxx X. Xxxxxxxx | |||||||
Xxxx X. Xxxxxxxx | ||||||||
00 Xxxxxxxx Xxxx | ||||||||
MARINER PARTNERS, INC. | Darien, CT 06820 | |||||||
LIONSHEAD INVESTMENTS LLC | ||||||||
By:
|
/s/ Xxxxxxx X. Xxxxxxxxxxxx | |||||||
By: | /s/ Xxxx X. Xxxxxxxx, Xx. | |||||||
Xxxx X. Xxxxxxxx, Xx. | ||||||||
By: | /s/ Xxxxxxxx Xxxxxxxx | |||||||
Xxxxxxxx Xxxxxxxx | ||||||||
/s/ Xxxxxx X. Xxxxxx | ||||||||
Xxxxxx X. Xxxxxx | ||||||||
(as trustee of the Xxxxxx Xxxxxxxx Trusts) |