AMENDMENT NO. 2 TO THE SHAREHOLDERS AGREEMENT
Exhibit 10.1
EXECUTION VERSION
AMENDMENT NO. 2 TO THE SHAREHOLDERS AGREEMENT
This Amendment (this “Amendment”) dated as of March 31, 2017 and, effective as of, and conditioned on, the consummation of the Exchange Offers (as defined below), is made by Affinion Group Holdings, Inc., a Delaware corporation (the “Company”). Capitalized terms used and not defined herein shall have the meaning ascribed thereto in the Shareholders Agreement (as defined below).
RECITALS
A.The Company entered into a Shareholders Agreement, dated as of November 9, 2015, as amended on October 4, 2016, with the investors party thereto (as amended, the “Shareholders Agreement”), to which various investors executed joinders in connection with the exchange offers and rights offering of the Company and its subsidiaries which were consummated on November 9, 2015.
B.In connection with exchange offers being proposed by the Company and certain of its subsidiaries, launching on or about the date hereof, pursuant to which the Company and such subsidiaries are seeking to exchange for new notes or cash up to all of the Company’s and such subsidiaries’ currently outstanding notes (the “Exchange Offers”), the Company desires to amend the Shareholders Agreement as set forth herein.
C.Pursuant to Sections 2.1(b)(i) and 6.11(c) of the Shareholders Agreement, prior to a Public Listing the Company is obligated to take all necessary action to cause the Board to be comprised of six (6) directors.
D.The Company desires to amend Section 2.1(b)(i) of the Shareholders Agreement to (i) change the size of the Board to seven (7) directors and (ii) grant authority to the Board, acting in its sole discretion, to increase the size of the Board to up to nine (9) directors.
E.The holders of Outstanding Company Common Stock whose approval constitutes a Stockholder Majority Vote have consented to this Amendment by written consent, effective as of March 31, 2017.
NOW, THEREFORE, in consideration of the covenants and agreements contained herein and in the Shareholders Agreement and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows:
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1. |
Amendment to the Shareholders Agreement |
Section 2.1(b)(i) – Board of Directors – Election of Directors. Section 2.1(b)(i) of the Shareholders Agreement is hereby amended and restated in its entirety as follows:
The board of directors of the Company (the “Board”) shall be comprised of seven (7) Directors, divided as evenly as possible into three (3) classes of Directors, and the Board, acting in its sole discretion, may increase such number of Directors to up to nine (9) Directors.
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2. |
Miscellaneous. |
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a. |
The provisions of Sections 6.3 to 6.7 and 6.11 to 6.19 of the Shareholders Agreement are hereby incorporated by reference, mutatis mutandis, as if such provisions were set forth fully herein. |
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b. |
This Amendment, the Shareholders Agreement and the other agreements expressly referenced in the Shareholders Agreement constitute the complete and exclusive statement of agreement among the Company and the Stockholders with respect to the subject matter hereof and supersede all prior written and oral statements by and among the Company and the Stockholders or any of them, and except as otherwise specifically contemplated by this Amendment or the Shareholders Agreement, no representation, statement, or condition or warranty not contained in this Amendment or the Shareholders Agreement will be binding on the Stockholders or the Company or have any force or effect whatsoever. |
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c. |
Except as specifically amended hereby, the Shareholders Agreement shall remain in full force and effect. |
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IN WITNESS WHEREOF, this Amendment is executed by the undersigned to be effective as of the date first written above.
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THE COMPANY: |
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By: |
/s/ Xxxxxxx X. Xxxxxx |
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Name: |
Xxxxxxx X. Xxxxxx |
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Title: |
Executive Vice President and Chief Financial Officer |
[Signature Page to Amendment No. 2 to the Shareholders Agreement]
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ARES DYNAMIC CREDIT ALLOCATION FUND, INC. |
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ARES STRATEGIC INVESTMENT PARTNERS LTD. |
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By: Ares Capital Management II LLC, its Adviser |
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BY: ARES STRATEGIC INVESTMENT MANAGEMENT LLC, AS INVESTMENT MANAGER |
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By: |
/s/ Xxxxxx Xxxxxxx |
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Name: |
Xxxxxx Xxxxxxx |
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Title: |
Authorized Signatory |
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By: |
/s/ Xxxxxx Xxxxxxx |
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Name: |
Xxxxxx Xxxxxxx |
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Title: |
Authorized Signatory |
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FUTURE FUND BOARD OF GUARDIANS |
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ASIP (HOLDCO) IV S.À.X.X.
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BY: ARES ENHANCED LOAN INVESTMENT STRATEGY ADVISOR IV, L.P., ITS INVESTMENT MANAGER (ON BEHALF OF THE ASIP II SUB-ACCOUNT) |
By: ASIP OPERATING MANAGER IV LLC, ITS INVESTMENT MANAGER |
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By: |
/s/ Xxxxxx Xxxxxxx |
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BY: ARES ENHANCED LOAN INVESTMENT STRATEGY ADVISOR IV GP, LLC, ITS GENERAL PARTNER |
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Name: |
Xxxxxx Xxxxxxx |
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Title:
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Authorized Signatory
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By: |
/s/ Xxxxxx Xxxxxxx |
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Name: |
Xxxxxx Xxxxxxx |
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Title: |
Authorized Signatory |
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Transatlantic Reinsurance Company |
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RSUI Indemnity Company |
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By: Ares ASIP VII Management, L.P., its Portfolio Manager |
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By: Ares ASIP VII Management, L.P., its Portfolio Manager |
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By: Ares ASIP VII GP, LLC, its General Partner |
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By: Ares ASIP VII GP, LLC, its General Partner |
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By: |
/s/ Xxxxxx Xxxxxxx |
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By: |
/s/ Xxxxxx Xxxxxxx |
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Name: |
Xxxxxx Xxxxxxx |
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Name: |
Xxxxxx Xxxxxxx |
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Title: |
Authorized Signatory |
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Title: |
Authorized Signatory |
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[Signature Page to Amendment No. 2 to the Shareholders Agreement]
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ANTHEM, INC. |
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ARES SPECIAL SITUATIONS FUND III, L.P. |
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BY: ARES WLP MANAGEMENT L.P., ITS MANAGER |
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BY: ASSF OPERATING MANAGER III, LLC, ITS MANAGER |
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BY: ARES WLP MANAGEMENT GP LLC, ITS GENERAL PARTNER |
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By: |
/s/ Xxxx Xxxxx |
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Name: |
Xxxx Xxxxx |
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Title: |
Authorized Signatory |
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By: |
/s/ Xxxxxx Xxxxxxx |
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Name: |
Xxxxxx Xxxxxxx |
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Title: |
Authorized Signatory |
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[Signature Page to Amendment No. 2 to the Shareholders Agreement]
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INVESTORS: |
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THIRD AVENUE TRUST, ON BEHALF OF THIRD AVENUE FOCUSED FUND |
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By: |
Third Avenue Management LLC, its investment adviser |
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/s/ W. Xxxxx Xxxx |
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Name: |
W. Xxxxx Xxxx |
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Title: |
General Counsel |
[Signature Page to Amendment No. 2 to the Shareholders Agreement]
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INVESTORS: |
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EMPYREAN CAPITAL MASTER OVERSEAS FUND, LTD. |
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By: |
/s/ C. Xxxxxx Xxxxxxx |
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Name: |
C. Xxxxxx Xxxxxxx |
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Title: |
Authorized Person |
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P EMP LTD. |
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By: |
/s/ C. Xxxxxx Xxxxxxx |
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Name: |
C. Xxxxxx Xxxxxxx |
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Title: |
Authorized Person |
[Signature Page to Amendment No. 2 to the Shareholders Agreement]
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INVESTORS: |
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ALLIANZ GLOBAL INVESTORS U.S. LLC |
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By: |
/s/ Xxxx Xxxxxxxx |
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Name: |
Xxxx Xxxxxxxx |
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Title: |
Managing Director |
On behalf of:
NAME:
AllianzGI Convertible & Income Fund - HY
AllianzGI Convertible & Income Fund II - HY
AllianzGI Income & Growth High Yield
Allianz US High Yield
Allianz Income and Growth Fund – High Yield Sleeve
Allianz Target Return Bond US – HY Sub
AllianzGI High Yield Bond Fund
Allianz US High Yield Selection 2
[Signature Page to Amendment No. 2 to the Shareholders Agreement]
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INVESTORS: |
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PENNANTPARK INVESTMENT CORPORATION |
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By: |
/s/ Xxxxxx X. Xxxx |
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Name: |
Xxxxxx X. Xxxx |
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Title: |
Chief Executive Officer |
[Signature Page to Amendment No. 2 to the Shareholders Agreement]
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INVESTORS: |
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PENNANTPARK FLOATING RATE CAPITAL LTD. |
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By: |
/s/ Xxxxxx X. Xxxx |
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Name: |
Xxxxxx X. Xxxx |
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Title: |
Chief Executive Officer |
[Signature Page to Amendment No. 2 to the Shareholders Agreement]
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INVESTORS: |
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PENNANTPARK CREDIT OPPORTUNITIES FUND II, LP |
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By: |
/s/ Xxxxxx X. Xxxx |
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Name: |
Xxxxxx X. Xxxx |
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Title: |
PennantPark Credit Opportunities Fund II, LP Managing Member of PennantPark Capital, LLC, the General Partner of the Fund |
[Signature Page to Amendment No. 2 to the Shareholders Agreement]
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INVESTORS: |
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XXXXXX XXXXXXX & CO. LLC |
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By: |
/s/ Xxxx XxxxxxXxxx |
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Name: |
Xxxx XxxxxxXxxx |
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Title: |
Authorized Signatory |
[Signature Page to Amendment No. 2 to the Shareholders Agreement]
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INVESTORS: |
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Symphony Asset Management LLC as investment advisor and/or Collateral Manager to clients who are Investors |
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By: |
/s/ Xxxxxx XxxXxxxxx |
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Name: |
Xxxxxx XxxXxxxxx |
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Title: |
General Counsel |
[Signature Page to Amendment No. 2 to the Shareholders Agreement]
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INVESTORS: |
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Millco Advisors L.P. |
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By: |
/s/ Xxx Xxxxxx |
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Name: |
Xxx Xxxxxx |
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Title: |
CFO |
[Signature Page to Amendment No. 2 to the Shareholders Agreement]
