AGREEMENT March 27, 2020
Exhibit 9
AGREEMENT
March 27, 2020
Reference is made to that certain Cooperation Agreement (as amended, the “Cooperation
Agreement”) by and among SoftVest Advisors, LLC (“SoftVest”), Horizon Kinetics LLC (“Horizon”),
Xxxxxxx Family Limited Partnership (“TFLP”), and ART-FGT Family Partners Limited (“ART-FGT”
and together with TFLP, the “Xxxxxxx Parties”) (collectively, the “Parties” and each, a “Party”). Each of the Parties hereby mutually agree to terminate the Cooperation Agreement with respect to the Xxxxxxx Parties, effective immediately (the “Xxxxxxx Withdrawal”).
The undersigned Xxxxxxx Parties hereby wish to withdraw from the Cooperation Agreement and upon countersignature from SoftVest and Horizon, such
withdrawal shall immediately become effective. Upon such withdrawal, the undersigned Xxxxxxx Parties will no longer have any agreement, arrangement or understanding whatsoever with SoftVest or Horizon with respect to the acquisition, holding,
voting or disposition of securities of Texas Pacific Land Trust (“TPL”). Furthermore, upon such withdrawal, SoftVest and Horizon may vote or dispose of any securities of
Texas Pacific Land Trust that they may beneficially own in their sole discretion, subject to any contractual obligations each may have to other third parties or to each other (including pursuant to the Cooperation Agreement).
The Cooperation Agreement shall otherwise remain in full force and effect between Horizon and SoftVest. For the avoidance of doubt, Sections 6(d), 7,
8 and 9 of the Cooperation Agreement shall survive the withdrawal by the undersigned.
The Xxxxxxx Parties acknowledge that notwithstanding such withdrawal, the Xxxxxxx Parties may be subject to ongoing obligations to TPL under the
Settlement Agreement dated July 30, 2019, as amended.
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Sincerely,
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ART-FGT FAMILY PARTNERS LIMITED
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By:
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XXXXXXX FMC LLC, its general partner
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By:
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/s/ Xxxxxx Xxxxxxx | ||
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Name: Xxxxxx Xxxxxxx | ||
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Title: Manager | ||
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XXXXXXX FAMILY LIMITED PARTNERSHIP
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By:
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APRES VOUS LLC, its general partner
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By:
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/s/ Xxxxxx Xxxxxxx | ||
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Name: Xxxxxx Xxxxxxx | ||
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Title: Manager | ||
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Accepted and agreed:
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HORIZON KINETICS LLC
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By:
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/s/ Xxx Xxxxxxx | |
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Name: Xxx Xxxxxxx
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Title: General Counsel
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SOFTVEST ADVISORS, LLC
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By:
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/s/ Xxxx Xxxxxx | |
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Name: Xxxx X. Xxxxxx
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Title: President
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