AR Capital Acquisition Corp.
Exhibit 10.2
October 7, 2016
AR Capital Acquisition Corp.
000 Xxxx Xxxxxx, 00xx Xxxxx
Xxx Xxxx, Xxx Xxxx 00000
AR Capital, LLC
000 Xxxx Xxxxxx, 00xx Xxxxx
Xxx Xxxx, Xxx Xxxx 00000
Gentlemen:
Reference is made to that certain letter agreement dated as of October 1, 2014 (the “Insider Letter Agreement”), by and among AR Capital Acquisition Corp., a Delaware corporation (the “Company”), AR Capital, LLC, a Delaware limited liability company (“AR Capital”), Xxxxxxxx X. Xxxxxxxx, Xxxxxxx X. Xxxxxx, Xxxxxxxx Xxxxxxx and Xxxx Xxxxxxxxxx (collectively, the “Parties”).
Based on the due execution and delivery of (i) that certain transfer agreement dated as of September 16, 2016, by and among AR Capital, Axar Master Fund Ltd., a Cayman Islands exempted company (“Axar”), and the Company, as amended by the First Amendment to the Agreement, dated September 27, 2016, and (ii) that certain insider letter agreement dated as of even date herewith, by and between Axar and the Company, the Parties hereby agree that the Insider Letter Agreement is terminated effective as of the date hereof with respect to Xxxxxxxx X. Xxxxxxxx, Xxxxxxx X. Xxxxxx and Xxxxxxxx Xxxxxxx; provided however, that the Insider Letter Agreement shall remain in full force and effect with respect to Xxxx Xxxxxxxxxx.
[Signature Page Follows]
| Very truly, yours, | ||
| AR CAPITAL ACQUISITION CORP. | ||
| By: | /s/ Xxxxxxx Xxxxxx | |
|
Name: Xxxxxxx Xxxxxx Title: CEO | ||
[Signature Page to Insider Letter Amendment]
ACKNOWLEDGED AND AGREED:
AR CAPITAL, LLC
| By: | /s/ Xxxxxx Xxxxxxx Xxxx Xx | |
| Name: Xxxxxx Xxxxxxx Xxxx Xx | ||
| Title: CEO | ||
| By: | /s/ Xxxxxxxx X. Xxxxxxxx | |
| Name: Xxxxxxxx X. Xxxxxxxx |
| By: | /s/ Xxxxxxx X. Xxxxxx | |
| Name: Xxxxxxx X. Xxxxxx | ||
| By: | /s/ Xxxxxxxx Xxxxxxx | |
| Name: Xxxxxxxx Xxxxxxx |
| By: | /s/ Xxxx Xxxxxxxxxx | |
| Name: Xxxx Xxxxxxxxxx |
[Signature Page to Insider Letter Amendment]
