Document:

Exhibit 10.52

 

[Form of Termination Agreement]

 

[  ], 2013

 

Bain Capital Partners, LLC
 111 Huntington Avenue
 Boston, MA 02199
 Facsimile: (212) 421-2225
 Attention: Stephen Zide

 

Ladies and Gentlemen:

 

Reference is made to that certain letter agreement, dated August 30, 2007 (the “Bain Consulting Agreement”), among HD Supply Holdings, Inc. (formerly named HDS Investment Holding, Inc.) (“Parent”), HD Supply, Inc., an indirect, wholly owned subsidiary of Parent (the “Company”) and Bain Capital Partners, LLC (“Bain”).  The Bain Consulting Agreement sets forth, among other things, the fees to be paid to Bain by the Company for Consulting Services and transaction services to be performed by Bain or its affiliates thereunder.  Capitalized terms used but not defined herein shall have the meanings ascribed to them in the Bain Consulting Agreement.

 

The parties agree to terminate the Bain Consulting Agreement pursuant to paragraph 12 thereof upon the consummation of Parent’s IPO (as defined in the Stockholders Agreement).  In connection with such termination, the Company will pay in cash to Bain $[ ] in unpaid Advisory Fees and expenses due with respect to periods prior to such termination, a Transaction Fee with respect to Parent’s IPO of $[ ] and a Termination Fee of $[ ] (collectively, the “Bain Termination Fee”) on the closing date of Parent’s IPO.  Upon payment of the Bain Termination Fee, the Bain Consulting Agreement will automatically terminate, provided that paragraphs 3 (with respect to expenses incurred prior to such termination), 5-12, 14-17 and 19-22, in their entirety, shall survive such termination.

 

The Bain Consulting Agreement is being terminated in reliance upon, and subject to, the concurrent termination of the Consulting Agreement, dated as of August 30, 2007, among the Company, Parent and TC Group V, L.L.C., and the Amended and Restated Consulting Agreement, dated as of November 23, 2009, among the Company, Parent and Clayton, Dubilier & Rice, LLC, in each case in consideration of a fee in an amount equal to the Bain Termination Fee and on terms substantially identical to this letter agreement.

 

This letter agreement shall constitute written notice of termination of the Bain Consulting Agreement in connection with Parent’s IPO pursuant to paragraph 12 of the Bain Consulting Agreement.  Bain hereby consents to the termination.

 

 

This letter agreement may be executed in any number of counterparts, with each executed counterpart constituting an original, but all together one and the same instrument. This letter agreement sets forth the entire understanding and agreement among the parties with respect to the transactions contemplated herein and supersedes and replaces any prior understanding, agreement or statement of intent, in each case written or oral, of any kind and every nature with respect hereto. This letter agreement is governed by and construed in accordance with the laws of the State of New York applicable to contracts executed and to be performed wholly within such State and without reference to the choice-of-law principles that would result in the application of the laws of a different jurisdiction.

 

If the foregoing is in accordance with your understanding and agreement, please sign and return this letter agreement, whereupon this letter agreement shall constitute a binding agreement with respect to the matters set forth herein.

 

[Remainder of the page intentionally left blank.]

 

2

 

	
 
    	
Sincerely,
    
	
 
    	
 
    
	
 
    	
HD SUPPLY HOLDINGS, INC.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Name:
    	
Ricardo J. Nunez
    
	
 
    	
 
    	
Title:
    	
Senior Vice   President, General Counsel and Corporate Secretary
    
	
 
    	
 
    
	
 
    	
HD SUPPLY, INC.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Name:
    	
Ricardo J. Nunez
    
	
 
    	
 
    	
Title:
    	
Senior Vice   President, General Counsel and Corporate Secretary
    

 

	
Acknowledged and   agreed as of the
    	
 
    
	
date first above   written:
    	
 
    
	
 
    	
 
    
	
BAIN CAPITAL   PARTNERS, LLC
    	
 
    
	
 
    	
 
    
	
By:
    	
Bain Capital   Investors, LLC, its
    	
 
    
	
 
    	
administrative   member
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
By:
    	
 
    	
 
    
	
 
    	
Name:
    	
 
    
	
 
    	
Title:
    	
 
    

 

3Exhibit 10.53

 

[Form of Termination Agreement]

 

[·], 2013

 

Carlyle Investment Management L.L.C.
 1001 Pennsylvania Avenue NW
 Washington DC 2004-2505
 Attention: Brian Bernasek
 Facsimile: (202) 347-1818

 

Ladies and Gentlemen:

 

Reference is made to that certain letter agreement, dated August 30, 2007 (the “Carlyle Consulting Agreement”), among HD Supply Holdings, Inc. (formerly named HDS Investment Holding, Inc.) (“Parent”), HD Supply, Inc., an indirect, wholly owned subsidiary of Parent (the “Company”) and TC Group V, L.L.C. (“TC Group V”), as assigned by TC Group V to Carlyle Investment Management L.L.C. (“Carlyle”) pursuant to the terms of the Assignment and Assumption Agreement, dated as of June 7, 2012, by and between TC Group V, the other assignors party thereto and Carlyle (such assignment having been consented to by Parent and the Company on June 7, 2012).  The Carlyle Consulting Agreement sets forth, among other things, the fees to be paid to Carlyle by the Company for Consulting Services and transaction services to be performed by Carlyle or its affiliates thereunder.  Capitalized terms used but not defined herein shall have the meanings ascribed to them in the Carlyle Consulting Agreement.

 

The parties agree to terminate the Carlyle Consulting Agreement pursuant to paragraph 12 thereof upon the consummation of Parent’s IPO (as defined in the Stockholders Agreement).  In connection with such termination, the Company will pay in cash to Carlyle $[ ] in unpaid Advisory Fees and expenses due with respect to periods prior to such termination, a Transaction Fee with respect to Parent’s IPO of $[ ] and a Termination Fee of $[ ] (collectively, the “Carlyle Termination Fee”) on the closing date of Parent’s IPO.  Upon payment of the Carlyle Termination Fee, the Carlyle Consulting Agreement will automatically terminate, provided that paragraphs 3 (with respect to expenses incurred prior to such termination), 5-12, 14-17 and 19-22, in their entirety, shall survive such termination.

 

The Carlyle Consulting Agreement is being terminated in reliance upon, and subject to, the concurrent termination of the Consulting Agreement, dated as of August 30, 2007, among the Company, Parent and Bain Capital Partners, LLC, and the Amended and Restated Consulting Agreement, dated as of November 23, 2009, among the Company, Parent and Clayton, Dubilier & Rice, LLC, in each case in consideration of a fee in an amount equal to the Carlyle Termination Fee and on terms substantially identical to this letter agreement.

 

 

This letter agreement shall constitute written notice of termination of the Carlyle Consulting Agreement in connection with Parent’s IPO pursuant to paragraph 12 of the Carlyle Consulting Agreement.  Carlyle hereby consents to the termination.

 

This letter agreement may be executed in any number of counterparts, with each executed counterpart constituting an original, but all together one and the same instrument. This letter agreement sets forth the entire understanding and agreement among the parties with respect to the transactions contemplated herein and supersedes and replaces any prior understanding, agreement or statement of intent, in each case written or oral, of any kind and every nature with respect hereto. This letter agreement is governed by and construed in accordance with the laws of the State of New York applicable to contracts executed and to be performed wholly within such State and without reference to the choice-of-law principles that would result in the application of the laws of a different jurisdiction.

 

If the foregoing is in accordance with your understanding and agreement, please sign and return this letter agreement, whereupon this letter agreement shall constitute a binding agreement with respect to the matters set forth herein.

 

[Remainder of the page intentionally left blank.]

 

2

 

	
 
    	
 
    	
Sincerely,
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
HD SUPPLY   HOLDINGS, INC.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
 
    
	
 
    	
 
    	
 
    	
Name:
    	
Ricardo J. Nunez
    
	
 
    	
 
    	
 
    	
Title:
    	
Senior Vice   President, General Counsel and Corporate Secretary
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
HD SUPPLY, INC.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
 
    
	
 
    	
 
    	
 
    	
Name:
    	
Ricardo J. Nunez
    
	
 
    	
 
    	
 
    	
Title:
    	
Senior Vice   President, General Counsel and Corporate Secretary
    
	
 
    	
 
    	
 
    
	
Acknowledged and   agreed as of the date first above written:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
CARLYLE INVESTMENT   MANAGEMENT L.L.C.
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
 
    	
 
    	
 
    
	
 
    	
Name:
    	
 
    	
 
    
	
 
    	
Title:
    	
 
    	
 
    

 

3Exhibit 10.54

 

[Form of Termination Agreement]

 

[ ], 2013

 

Clayton, Dubilier & Rice, LLC
 375 Park Avenue, 18th Floor
 New York, NY 10152
 Tel: (212) 407-5200
 Attention: Theresa Gore

 

Ladies and Gentlemen:

 

Reference is made to that certain amended and restated letter agreement, dated November 23, 2009 (the “CD&R Consulting Agreement”), among HD Supply Holdings, Inc. (formerly named HDS Investment Holding, Inc.) (“Parent”), HD Supply, Inc., an indirect, wholly owned subsidiary of Parent (the “Company”) and Clayton, Dubilier & Rice, LLC (“CD&R”).  The CD&R Consulting Agreement sets forth, among other things, the fees to be paid to CD&R by the Company for Consulting Services and transaction services to be performed by CD&R or its affiliates thereunder.  Capitalized terms used but not defined herein shall have the meanings ascribed to them in the CD&R Consulting Agreement.

 

The parties agree to terminate the CD&R Consulting Agreement pursuant to paragraph 12 thereof upon the consummation of Parent’s IPO (as defined in the Stockholders Agreement).  In connection with such termination, the Company will pay in cash to CD&R $[ ] in unpaid Advisory Fees and expenses due with respect to periods prior to such termination, a Transaction Fee with respect to Parent’s IPO of $[ ] and a Termination Fee of $[ ] (collectively, the “CD&R Termination Fee”) on the closing date of Parent’s IPO.  Upon payment of the CD&R Termination Fee, the CD&R Consulting Agreement will automatically terminate, provided that paragraphs 3 (with respect to expenses incurred prior to such termination), 5-12, 14-17 and 19-22, in their entirety, shall survive such termination.

 

The CD&R Consulting Agreement is being terminated in reliance upon, and subject to, the concurrent termination of the Consulting Agreement, dated as of August 30, 2007, among the Company, Parent and TC Group V, L.L.C., and the Consulting Agreement, dated as of August 30, 2007, among the Company, Parent and Bain Capital Partners, LLC, in each case in consideration of a fee in an amount equal to the CD&R Termination Fee and on terms substantially identical to this letter agreement.

 

This letter agreement shall constitute written notice of termination of the CD&R Consulting Agreement in connection with Parent’s IPO pursuant to paragraph 12 of the CD&R Consulting Agreement.  CD&R hereby consents to the termination.

 

 

This letter agreement may be executed in any number of counterparts, with each executed counterpart constituting an original, but all together one and the same instrument. This letter agreement sets forth the entire understanding and agreement among the parties with respect to the transactions contemplated herein and supersedes and replaces any prior understanding, agreement or statement of intent, in each case written or oral, of any kind and every nature with respect hereto. This letter agreement is governed by and construed in accordance with the laws of the State of New York applicable to contracts executed and to be performed wholly within such State and without reference to the choice-of-law principles that would result in the application of the laws of a different jurisdiction.

 

If the foregoing is in accordance with your understanding and agreement, please sign and return this letter agreement, whereupon this letter agreement shall constitute a binding agreement with respect to the matters set forth herein.

 

[Remainder of the page intentionally left blank.]

 

2

 

	
 
    	
Sincerely,
    
	
 
    	
 
    
	
 
    	
HD SUPPLY   HOLDINGS, INC.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Name:
    	
Ricardo J. Nunez
    
	
 
    	
 
    	
Title:
    	
Senior Vice   President, General Counsel and Corporate Secretary
    
	
 
    	
 
    
	
 
    	
HD   SUPPLY, INC.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Name:
    	
Ricardo J. Nunez
    
	
 
    	
 
    	
Title:
    	
Senior Vice   President, General Counsel and Corporate Secretary
    
	
 
    	
 
    
	
Acknowledged and   agreed as of the
    	
 
    
	
date first above   written:
    	
 
    
	
 
    	
 
    
	
CLAYTON,   DUBILIER & RICE, LLC
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
By:
    	
 
    	
 
    	
 
    
	
 
    	
Name:
    	
Theresa A. Gore
    	
 
    
	
 
    	
Title:
    	
Vice President,   Treasurer and
    	
 
    
	
 
    	
 
    	
Assistant   Secretary
    	
 
    
							

 

3

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