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EXHIBIT 10.18.1
SUBSCRIPTION AGREEMENT
AMENDMENT NO. 1
This Amendment No. 1 ("Amendment") of the Subscription Agreement (the
"Agreement"), dated as of August 10, 2000, is entered into by and among the
following:
1. Heritage Propane Partners, L.P., a Delaware limited
partnership ("Heritage MLP"); and
2. Xxxxx X. Xxxxxxxxxxxx and Xxxxx X. Xxxxxxxxxxxx, as Tenants by
the Entireties; H. Xxxxxxx Xxxxxxxx; X. X. Xxxxx; G. A. Xxxx;
The Xxxx Xxxxx Xxxxxxxxxxxx Xxxxx Trust; The Xxx Xxxx
Xxxxxxxxxxxx Trust; The Xxxx X. Xxxxx Trust; J. Xxxxxxx
Xxxxxx; Xxxx X. Xxxxx; Xxxxxx X. Xxxxxxxx; Xxxxx Xxx Xxxx;
Xxxxxx X. Xxxxx; Xxxx X. Xxxx; Xxxxx X. Xxxxxxx; Xxx X.
Xxxxxxx; Xxxxxxx X. Pass; Xxxxxx X. Xxxxxxxx; Xxxxxx X. Xxxx;
X. X. Xxxxxxxxxx, III; Xxxxxx X. Xxxxxxxx; Xxxxxxx X. Xxxx;
Xxxxx X. Xxxxxxxx, XX; and Xxxx XxXxxxxx (collectively, the
"Heritage GP Stockholders").
RECITALS
WHEREAS, the Parties desire to restate Annex I to the Agreement to
accurately reflect the number of Common Units ("Common Units") and Class B
subordinated limited partner interests ("Class B Subordinated Units") of
Heritage Propane Partners, L.P., a Delaware limited partnership ("Heritage MLP")
to be purchased by the Heritage GP Stockholders; and
WHEREAS, the Parties desire to restate Section 5.4 of the Agreement to
accurately reflect the agreement of Heritage Holdings, Inc., a Delaware
corporation ("Heritage GP"), and the Heritage GP Stockholders with respect to
the vote of their Common Units.
AMENDMENT
NOW, THEREFORE, Annex I is hereby deleted in its entirety and replaced
with that certain Annex I attached as Exhibit A hereto and incorporated herein
for all purposes, and Section 5.4 of the Agreement is hereby deleted in its
entirety and restated to read as follows:
5.4 VOTE OF COMMON UNITS. Heritage GP and its successors and assigns
and the Heritage GP Stockholders hereby covenant and agree to vote all of their
respective Common Units (other than those issued pursuant to Section 2.1 of the
Agreement (the "New Units")) at each meeting or other vote of the holders (the
"Unitholders") of the Common Units of Heritage MLP, with respect thereto, for
approval of the conversion of Class B Subordinated Units to Common Units (the
"Conversion"), for the admission of U.S. Propane, L.P., a Delaware limited
partnership, or its designee as general partner of Heritage MLP (the
"Admission"), and for any amendment of the Amended and Restated Agreement of
Limited Partnership of Heritage MLP (the "Partnership Agreement") related
thereto. Each of the Heritage GP Stockholders agrees to xxxxx Xxxxx X.
Xxxxxxxxxxxx and H. Xxxxxxx Xxxxxxxx their proxy, at each meeting or other vote
of the Unitholders relating to the Conversion, the Admission and any amendment
of the Partnership Agreement related
Subscription Agreement
Amendment No. 1
2
thereto, to vote their New Units in the manner required by rule or
interpretation of the New York Stock Exchange, Inc. (the "NYSE") for listing of
the New Units on the NYSE.
Subscription Agreement
Amendment No. 1
3
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
duly executed as of the day and year first written above.
HERITAGE PROPANE PARTNERS, L.P.
BY: HERITAGE HOLDINGS, INC.
ITS GENERAL PARTNER
By:
----------------------------------------------
Name: H. Xxxxxxx Xxxxxxxx
Title: President and Chief Executive Officer
HERITAGE HOLDINGS, INC.,
FOR THE PURPOSES OF SECTION 5.4 ONLY
By:
-----------------------------------------------
Name: H. Xxxxxxx Xxxxxxxx
Title: President and Chief Executive Officer
Subscription Agreement
Amendment Xx. 0
0
XXXXXXXX XX XXXXXXXXXXXX:
By:
-----------------------------------------
XXXXX X. XXXXXXXXXXXX AND
By:
-----------------------------------------
XXXXX X. XXXXXXXXXXXX,
AS TENANT BY THE ENTIRETIES
By:
-----------------------------------------
H. XXXXXXX XXXXXXXX
By:
-----------------------------------------
X. X. XXXXX
By:
-----------------------------------------
G. A. XXXX
THE XXXX XXXXX XXXXXXXXXXXX XXXXX TRUST
By:
-----------------------------------------
XXXX XXXXX XXXXXXXXXXXX XXXXX,
as Co-Trustee
By:
-----------------------------------------
XXX XXXX XXXXXXXXXXXX XXXXXXXXX,
as Co-Trustee
THE XXX XXXX XXXXXXXXXXXX TRUST
By:
-----------------------------------------
XXX XXXX XXXXXXXXXXXX XXXXXXXXX,
as Co-Trustee
By:
-----------------------------------------
XXXX XXXXX XXXXXXXXXXXX XXXXX,
as Co-Trustee
THE XXXX X. XXXXX TRUST
By:
-----------------------------------------
XXXXXXX X. XXXXX, as Trustee
By:
-----------------------------------------
J. XXXXXXX XXXXXX
Subscription Agreement
Amendment No. 1
5
By:
-----------------------------------------
XXXX X. XXXXX
By:
-----------------------------------------
XXXXXX X. XXXXXXXX
By:
-----------------------------------------
XXXXX XXX XXXX
By:
-----------------------------------------
XXXXXX X. XXXXX
By:
-----------------------------------------
XXXX X. XXXX
By:
-----------------------------------------
XXXXX X. XXXXXXX
By:
-----------------------------------------
XXX X. XXXXXXX
By:
-----------------------------------------
XXXXXXX X. PASS
By:
-----------------------------------------
XXXXXX X. XXXXXXXX
By:
-----------------------------------------
XXXXXX X. XXXX
By:
-----------------------------------------
X. X. XXXXXXXXXX, III
By:
-----------------------------------------
XXXXXX X. XXXXXXXX
By:
-----------------------------------------
XXXXXXX X. XXXX
By:
-----------------------------------------
XXXXX X. XXXXXXXX, XX
By:
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XXXX XXXXXXXX
Subscription Agreement
Amendment No. 1
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EXHIBIT A
ANNEX I
HERITAGE GP STOCKHOLDERS
PART 1: CASH PURCHASE PRICE
CLASS B CASH PURCHASE PRICE
------- -------------------
NAME OF AND ADDRESS OF SUBORDINATED FOR UNITS TO BE
---------------------- ------------- ---------------
HERITAGE GP STOCKHOLDERS COMMON UNITS UNITS PURCHASED
------------------------ ------------ ----- ---------
PURCHASERS OF COMMON UNITS
AND CLASS B SUBORDINATED UNITS:
Xxxxx X. Xxxxxxxxxxxx 81,000 946,946 $ 20,282,650
000 Xxxxxxxxx'x Xxxxx Xx.
Xxxxx Xxxxx Xxxxx, Xxxxxxx 00000
and
Xxxxx X. Xxxxxxxxxxxx
968 Spinnaker's Reach Xx.
Xxxxx Vedra Beach, Florida 32082
H. Xxxxxxx Xxxxxxxx 81,000 211,059 $ 5,762,691
0000 Xxxx 000xx Xxxxxx
Xxxxx, Xxxxxxxx 00000-0000
X. X. Xxxxx 81,000 224,509 $ 6,028,077
000 Xxxxxxxxxx Xxxxxx Xxxxx
Xxxxx Xxxxx Xxxxx, Xxxxxxx 00000
Total Class B Subordinated Units: 1,382,514
PURCHASERS OF COMMON UNITS:
G. A. Xxxx 160,967 $ 3,176,073
0000 Xxxxx Xxxxxxx
Xxxxxxxxxxxx, Xxxxxxxxx 00000
J. Xxxxxxx Xxxxxx 64,157 $ 1,265,896
0000 Xxxxxxxxx Xxxxx
Xxxxxxxxxxxx, Xxxxxxx 00000
The Xxxx Xxxxx Xxxxxxxxxxxx Xxxxx Trust 152,325 $ 3,005,571
0000 Xxxx 00xx Xxxxxx
Xxxxx, Xxxxxxxx 00000
The Xxx Xxxx Xxxxxxxxxxxx Trust 152,325 $ 3,005,571
0000 Xxxxx Xxxxxxxx Xxxxxx
Xxxxx, Xxxxxxxx 00000
The Xxxx X. Xxxxx Trust 77,428 $ 1,527,756
#0 Xxxxxxxx Xxxx
Xx Xxxxxx Xxxx, Xxxxxxxx 00000
Subscription Agreement
Amendment Xx. 0
0
XXXXX X XXXX XXXXXXXX PRICE
------- -------------------
NAME OF AND ADDRESS OF SUBORDINATED FOR UNITS TO BE
---------------------- ------------- ---------------
HERITAGE GP STOCKHOLDERS COMMON UNITS UNITS PURCHASED
------------------------ ------------ ----- ---------
Xxxx X. Xxxxx 64,157 $ 1,265,896
0000 Xxxxx Xxxxxx Xxxxxx
Xxxxx, Xxxxxxxx 00000
Xxxxxx X. Xxxxxxxx 18,330 $ 361,683
000 Xxxxxx Xxxx
Xxxxxxx, Xxx Xxxxxx 00000
Xxxxx Xxx Xxxx 18,330 $ 361,683
0000 Xxxx Xxxxxx Xxxxxx
Xxxxxxx, Xxxxx 00000
Xxxxxx X. Xxxxx 18,330 $ 361,683
000 Xxx Xxxxxx
Xxxxx Xxxxxxx, Xxxxxxxx 00000
Xxxx X. Xxxx 18,330 $ 361,683
000 Xxx Xxxx Xxxxx
Xxxxx Xxxxx Xxxxx, Xxxxxxx 00000
Xxxxx X. Xxxxxxx 18,330 $ 361,683
0000 Xxxxxxx Xxxxxx
Xxxxxxxxxx, Xxxxxxxxxx 00000
Xxx X. Xxxxxxx 18,330 $ 361,683
000 Xxxxxx Xxxx
Xxxxxxxxxx, Xxxxxxxxx 00000
Xxxxxxx X. Pass 18,330 $ 361,683
000 Xxxxxx Xxxxx
Xxxxxx, Xxxxxxx 00000
Xxxxxx X. Xxxxxxxx 18,330 $ 361,683
000 Xxxxxxx Xxxxx
Xxxxxxxx, Xxxxxxx 00000
Xxxxxx X. Xxxx 18,330 $ 361,683
0000 000xx Xxxxxx Xxxxx X.X.
Xxx Xxxxxx, Xxxxxxxxxx 00000
X. X. Xxxxxxxxxx, III 18,330 $ 361,683
000 Xxx Xxxxxxx Xxxx
Xxxxxxxxx, Xxxxx Xxxxxxxx 00000
Xxxxxx X. Xxxxxxxx 18,330 $ 361,683
00 Xxxxxx Xxxx
Xxxx, Xxxxxx 00000
Xxxxxxx X. Xxxx 18,330 $ 361,683
0000 Xxxxx Xxxxx
Xxxxxx, Xxxxxxxxxx 00000
Subscription Agreement
Amendment Xx. 0
0
XXXXX X XXXX XXXXXXXX PRICE
------- -------------------
NAME OF AND ADDRESS OF SUBORDINATED FOR UNITS TO BE
---------------------- ------------- ---------------
HERITAGE GP STOCKHOLDERS COMMON UNITS UNITS PURCHASED
------------------------ ------------ ----- ---------
Xxxxx X. Xxxxxxxx, XX 18,330 $ 361,683
00000 Xxxxxxx Xxxx
Xxxxx Xxxxxx, Xxxxxxxxx 00000
Xxxx XxXxxxxx 9,165 $ 180,842
0000 Xxxxxxxxx Xxxxxx
Xxxx, Xxxxxx 00000
Total Common Units 1,161,814 $ 50,202,902
PART 2: CALCULATION OF NUMBER OF UNITS
The number of Units to be purchased by each Heritage GP Stockholder equals the
quotient (rounded to the nearest whole number) of the Cash Purchase Price set
forth for such Heritage GP Stockholder in Part 1 of this Annex I, divided by the
Average Price.
"Average Price" means $19.73125.
PART 3: COMMON UNITS AND CLASS B SUBORDINATED INTERESTS
Each Heritage GP Stockholder listed in Part 1 as a purchaser of Common Units and
Class B Subordinated Units will receive a number of Units calculated in
accordance with Part 2, as follows: First, 81,000 Common Units and second, a
number of Class B Subordinated Units equal to (a) the number of Units such
Grande GP Stockholder is entitled to receive in accordance with Part 2, minus
(b) 81,000 Units.
Each Heritage GP Stockholder listed in Part 1 as a purchaser of Common Units
will receive a number of Common Units calculated in accordance with Part 2.
Subscription Agreement
Amendment No. 1
