May 26, 2011
Exhibit 10.91
May 26, 2011
Blackstone Management Partners IV L.L.C.
c/o The Blackstone Group, L.P.
000 Xxxx Xxxxxx
Xxx Xxxx, XX 00000
c/o The Blackstone Group, L.P.
000 Xxxx Xxxxxx
Xxx Xxxx, XX 00000
Metalmark Management LLC
c/o Metalmark Capital LLC
0000 Xxxxxx xx xxx Xxxxxxxx
Xxx Xxxx, XX 00000
c/o Metalmark Capital LLC
0000 Xxxxxx xx xxx Xxxxxxxx
Xxx Xxxx, XX 00000
Ladies and Gentlemen:
Reference is made to that certain Transaction and Monitoring Fee Agreement dated as of
September 23, 2004 (the “Agreement”) among Blackstone Management Partners IV L.L.C. (“BMP”),
Metalmark Management LLC (“MSCP Manager”, and collectively with BMP, the “Sponsor Management
Entities”) and Vanguard Health Systems, Inc. (the “Company”).
Pursuant to Section 3(a) of the Agreement, the Sponsor Management Entities are entitled to
receive additional compensation from the Company for providing investment banking or other
financial advisory services to the Company by mutual agreement of the Company and the Sponsor
Management Entities. The Company hereby acknowledges that the Sponsor Management Entities at the
request of the Company have provided and are providing certain financial advisory services to the
Company during its current fiscal year ending June 30, 2011; and, as a result, the Company agrees
with the Sponsor Management Entities that, to reflect their contributions to the Company’s
accomplishments to date during its current fiscal year, each of BMP and MSCP Manager shall be
entitled to financial advisory fees from the Company in consideration of such services in the
amounts of $10.0 million and $1.5 million, respectively, such fees payable by June 30, 2011.
Please execute and return to the Company an executed counterpart of this letter agreement
acknowledging your agreement with the foregoing.
Very truly yours, VANGUARD HEALTH SYSTEMS, INC. |
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BY: | /s/ Xxxxxx X. Xxxxxxx | |||
Xxxxxx X. Xxxxxxx | ||||
Executive Vice President, General Counsel & Secretary | ||||
Exhibit 10.91
THE FOREGOING IS AGREED AS OF | ||||
THE DATE FIRST SET FORTH ABOVE: | ||||
BLACKSTONE MANAGEMENT PARTNERS IV L.L.C. | ||||
By:
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/s/ Xxxxxxx X. Xxx Xxxxx
|
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Managing Director | ||||
Date: May 26, 2011 | ||||
METALMARK MANAGEMENT LLC | ||||
By:
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/s/ M. Xxxxx Xxxxxx
|
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Managing Director | ||||
Date: May 26, 2011 |