ASSET PURCHASE AGREEMENT by and among BOLLINGER HOUMA SHIPYARDS, L.L.C., and BOLLINGER SHIPYARDS LOCKPORT, L.L.C., as Purchasers, andAsset Purchase Agreement • April 19th, 2021 • Gulf Island Fabrication Inc • Fabricated structural metal products • Louisiana
THIS ASSET PURCHASE AGREEMENT (this “Agreement”) is dated April 19, 2021 (the “Effective Date”), by and among Bollinger Houma Shipyards, L.L.C., a Louisiana limited liability company (“BHS”), Bollinger Shipyards Lockport, L.L.C., a Louisiana limited liability company (“BSL” and, together with BHS, “Purchasers”), Gulf Island Shipyards, LLC, a Louisiana limited liability company (“GIS”), Gulf Island, L.L.C., a Louisiana limited liability company (“GI”), and Gulf Island Fabrication, Inc., a Louisiana corporation (“GIFI” and, together with GIS and GI, “Sellers”).
EMPLOYMENT AGREEMENTEmployment Agreement • April 19th, 2021 • Gulf Island Fabrication Inc • Fabricated structural metal products • Louisiana
THIS EMPLOYMENT AGREEMENT (this "Agreement") is entered into as of April 16, 2021 (the "Effective Date"), by and between Gulf Island Fabrication, Inc., a Louisiana corporation (the "Company") and Christian G. Vaccari ("Employee") (collectively the “Parties”).
RESTRICTIVE COVENANT REGARDING RESTRICTED PAYMENTSGulf Island Fabrication Inc • April 19th, 2021 • Fabricated structural metal products • Louisiana
This Restrictive Covenant Regarding Restrictive Payments (“Covenant”) is effective as of April 19, 2021 (the “Effective Date”) by and between:
multiple indebtedness mortgageGulf Island Fabrication Inc • April 19th, 2021 • Fabricated structural metal products • Louisiana
Mortgagor:Gulf Island, L.L.C., a Louisiana limited liability company, and Gulf Island Services, L.L.C. f/k/a Dolphin Services, L.L.C., a Louisiana limited liability company
Unaudited Pro Forma Financial Information OverviewGulf Island Fabrication Inc • April 19th, 2021 • Fabricated structural metal products
On April 19, 2021 (the “Closing Date” or at “Closing”), Gulf Island Fabrication, Inc. (the “Company”), and Gulf Island Shipyards, LLC and Gulf Island, L.L.C., each a subsidiary of the Company (collectively, the “Sellers”), entered into a definitive agreement (the “Purchase Agreement”) pursuant to which we sold the assets and certain vessel construction contracts of our Shipyard Division (“Shipyard Transaction”) to Bollinger Houma Shipyards, L.L.C. and Bollinger Shipyards Lockport, L.L.C. (collectively, “Bollinger”) for approximately $28.6 million (“Transaction Price”) ($26.1 million, net of estimated transaction and other costs). We received $26.4 million of the Transaction Price on the Closing Date and the remainder will be received upon Bollinger’s collection of certain customer payments associated with the Divested Shipyard Contracts (defined below).
