Document:

EX_10_1

		

			Exhibit 10.1

		

		

			 

		

		

			Execution Version

		

		

			 

		

		
			THIRD AMENDED AND RESTATED
		

		
			OMNIBUS AGREEMENT
		

		
			among
		

		
			TRANSMONTAIGNE GP L.L.C.
		

		
			TRANSMONTAIGNE PARTNERS L.P.
		

		
			TRANSMONTAIGNE OPERATING GP L.L.C.
		

		
			TRANSMONTAIGNE OPERATING COMPANY L.P.
		

		
			and
		

		
			TLP MANAGEMENT SERVICES LLC
		

		
			 
		

		
			 
		

		
			

		 

 

		

			 

		

		

		
			THIRD AMENDED AND RESTATED OMNIBUS AGREEMENT
		

		
			THIS THIRD AMENDED AND RESTATED OMNIBUS AGREEMENT (“Restated Agreement”) dated as of May 7, 2018 (the “Effective Date”), is entered into by and among TransMontaigne GP L.L.C., a Delaware limited liability company (the “General Partner”), TransMontaigne Partners L.P., a Delaware limited partnership (the “Partnership”), TransMontaigne Operating GP L.L.C., a Delaware limited liability company (the “OLP GP”), TransMontaigne Operating Company L.P., a Delaware limited partnership (the “Operating Partnership”), and TLP Management Services LLC, a Delaware limited liability company (“TLP Management Services”). The above-named entities are sometimes referred to in this Restated Agreement each as a “Party” and collectively as the “Parties.”
		

		
			R E C I T A L S:
		

		
			A.        TransMontaigne LLC, a Delaware limited liability company and formerly known as TransMontaigne Inc., the General Partner, the Partnership, OLP GP and the Operating Partnership (the “First A&R Omnibus Agreement Parties”) have previously entered into an Amended and Restated Omnibus Agreement, dated as of December 31, 2007, but effective for all purposes as of January 1, 2008 (the “First A&R Omnibus Agreement”).
		

		
			B.         The First A&R Omnibus Agreement Parties (and in the case of the Fourth Amendment and the Second A&R Omnibus Agreement, as defined below, Gulf TLP Holdings, LLC) have previously amended the First A&R Omnibus Agreement by execution of the First Amendment to Amended and Restated Omnibus Agreement dated as of July 16, 2013 (the “First Amendment”), the Second Amendment to Amended and Restated Omnibus Agreement dated as of April 14, 2015 (the “Second Amendment”), the Third Amendment to Amended and Restated Omnibus Agreement dated as of June 16, 2015 (the “Third Amendment”), the Assignment and Amendment No. 4 to Amended and Restated Omnibus Agreement dated as of February 1, 2016 (the “Fourth Amendment”), and the Second Amended and Restated Omnibus Agreement dated as of February 22, 2016 but effective for all purposes as of February 1, 2016  (the “Second A&R Omnibus Agreement”,  the First A&R Omnibus Agreement, as amended by the First Amendment, the Second Amendment, the Third Amendment and the Fourth Amendment and the Second A&R Omnibus Agreement,  collectively, the “Prior Agreement”).
		

		
			C.         Pursuant to the Prior Agreement, TLP Management Services and its affiliates agreed to provide certain management, legal, accounting, tax, corporate staff and other support services to the Partnership from and after the effective date of the Prior Agreement, as well as provide personnel to operate certain assets.
		

		
			D.        The parties intend that, pursuant to this Restated Agreement, effective from and after the Effective Date,  the Partnership Group (defined herein) will assume direct financial responsibility for the services that are provided by the TLP Management Services Engineering and the ESOH personnel pursuant to which TLP Management Services shall be directly reimbursed for the associated costs and expenses and the revised Administrative Fee, as set forth herein, reflects such designation, effective from and after the Effective Date.
		

		
			E.         The Parties desire to hereby amend and restate the Prior Agreement in its entirety.
		

		
			
		

		
			

		 

		

			 

		

 

		

			 

		

		

		
			ARTICLE I
		

		
			Definitions
		

		
			1.1       Definitions.
		

		
			As used in this Restated Agreement, the following terms shall have the respective meanings set forth below:
		

		
			“Administrative Fee” is defined in Section 2.1(a).
		

		
			“Affiliate” is defined in the Partnership Agreement.
		

		
			“Applicable Period” is defined in Section 2.1(a).
		

		
			“Assets” means (a) all assets owned by the Partnership Group prior to or on the Purchase Agreement Closing Date and (b) all assets acquired or constructed by the Partnership Group during the Applicable Period from and after such time as the General Partner, on behalf of the Partnership Group and TLP Management Services and with the concurrence of the Conflicts Committee, establish a revised Administrative Fee in accordance with Section 2.1(a) hereof and, if applicable, a revised Insurance Reimbursement in accordance with Section 2.1(c) hereof.
		

		
			“Cause” is defined in the Partnership Agreement.
		

		
			“Common Units” is defined in the Partnership Agreement.
		

		
			“Conflicts Committee” is defined in the Partnership Agreement.
		

		
			“control” means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of a Person, whether through ownership of voting securities, by contract, or otherwise.
		

		
			“Effective Date” is defined in introductory paragraph of this Restated Agreement.
		

		
			“Exchange Act” means the Securities Exchange Act of 1934, as amended.
		

		
			“First A&R Omnibus Agreement” is defined in Recital A.
		

		
			“First A&R Omnibus Agreement Parties” is defined in Recital A.
		

		
			“First Amendment” is defined in Recital B.
		

		
			“Fourth Amendment” is defined in Recital B.
		

		
			“General Partner” is defined in the introductory paragraph of this Restated Agreement.
		

		
			“Insurance Reimbursement” is defined in Section 2.1(c).
		

		
			“Limited Partner” is defined in the Partnership Agreement.
		

		
			
		

		
			

		 

		

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			“OLP GP” is defined in the introductory paragraph of this Restated Agreement.
		

		
			“On-Site Employees” is defined in Section 3.1(a).
		

		
			“Operating Partnership” is defined in the introductory paragraph of this Restated Agreement.
		

		
			“Partnership” is defined in the introductory paragraph of this Restated Agreement.
		

		
			“Partnership Agreement” means the First Amended and Restated Agreement of Limited Partnership of TransMontaigne Partners L.P., dated as of May 27, 2005, as amended by the First Amendment thereto dated as of January 23, 2006, the Second Amendment thereto dated as of April 7, 2008 and the Third Amendment thereto dated as of May 5, 2015, and as may be further amended from time to time, to which reference is hereby made for all purposes of this Restated Agreement.
		

		
			“Partnership Entities” means the General Partner and each member of the Partnership Group; and “Partnership Entity” means any of the Partnership Entities.
		

		
			“Partnership Group” means the Partnership, OLP GP, the Operating Partnership and any of their respective Subsidiaries, treated as a single consolidated entity; and
		

		
			“Partnership Group Member” means any member of the Partnership Group.
		

		
			“Party” and “Parties” are defined in the introductory paragraph of this Restated Agreement.
		

		
			“Person” means an individual or a corporation, limited liability company, partnership, joint venture, trust, unincorporated organization, association, government agency or political subdivision thereof or other entity.
		

		
			“Plan” is defined in Section 2.1(b).
		

		
			“PPH Entities” means PPH Management Holdings, LLC, and any Person controlled, directly or indirectly, by PPH Management Holdings, LLC other than the Partnership Entities; and “PPH Entity” means any of the PPH Entities.
		

		
			“Prior Agreement” is defined in Recital B.
		

		
			“Purchase Agreement Closing Date” means February 1, 2016.
		

		
			“Restated Agreement” is defined in the introductory paragraph hereof.
		

		
			“Second Amendment” is defined in Recital B.
		

		
			“Second A&R Omnibus Agreement” is defined in Recital B.
		

		
			“Services” is defined in Section 2.1(a).
		

		
			
		

		
			

		 

		

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			“Subsidiary” means, with respect to any Person, (a) a corporation of which more than 50% of the voting power of shares entitled (without regard to the occurrence of any contingency) to vote in the election of directors or other governing body of such corporation is owned, directly or indirectly, at the date of determination, by such Person, by one or more Subsidiaries of such Person or a combination thereof, (b) a partnership (whether general or limited) in which such Person or a Subsidiary of such Person is, at the date of determination, a general or limited partner of such partnership, but only if more than 50% of the partnership interests of such partnership (considering all of the partnership interests of the partnership as a single class) is owned, directly or indirectly, at the date of determination, by such Person, by one or more Subsidiaries of such Person, or a combination thereof, or (c) any other Person (other than a corporation or a partnership) in which such Person, one or more Subsidiaries of such Person, or a combination thereof, directly or indirectly, at the date of determination, has (i) at least a majority ownership interest or (ii) the power to elect or direct the election of a majority of the directors or other governing body of such Person.
		

		
			“Third Amendment” is defined in Recital B.
		

		
			“TLP Management Services” is defined in the introductory paragraph of this Restated Agreement.
		

		
			“Units” is defined in the Partnership Agreement.
		

		
			ARTICLE II
		

		
			Services
		

		
			2.1       General.
		

		
			(a)        During the period commencing on the Effective Date and terminating on the earlier to occur of the PPH Entities ceasing to control the General Partner or, at the election of either the Partnership or TLP Management Services following prior written notice to the other Parties at least two (2) years prior to the effective date of such termination (the “Applicable Period”), the Partnership shall pay TLP Management Services an administrative fee (the “Administrative Fee”) of $8,384,440 per year, payable in arrears in equal monthly installments on the third business day of each month, beginning in May 2018, for the provision by TLP Management Services  for the Partnership Group’s benefit of certain management, legal, accounting, tax, corporate staff and other support services during the Applicable Period (the “Services”).   The Services will be substantially identical in nature and quality to the services of such type previously provided pursuant to the Prior Agreement. During the Applicable Period, the Partnership Group will satisfy all of its needs for such Services through TLP Management Services.  TLP Management Services may increase the Administrative Fee each calendar year effective commencing on January 1, 2019 by an amount up to the product of the then-current Administrative Fee multiplied by an amount equal to (x) the percentage increase, if any, from the immediately preceding year in the Consumer Price Index - All Urban Consumers, U.S. City Average, Not Seasonally Adjusted, plus (y) two (2) percent. If the Partnership or any other Partnership Group Member acquires or constructs additional assets during the Applicable Period, then TLP Management Services may propose a revised Administrative Fee. If the General Partner, on behalf of the Partnership Group and with the concurrence of the Conflicts
		

		
			
		

		
			

		 

		

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			Committee, agrees to such revised Administrative Fee, then TLP Management Services shall provide Services for the additional assets pursuant to the terms set forth herein. Notwithstanding the foregoing, the Services shall not include any services that are outsourced by TLP Management Services to third parties.
		

		
			(b)        During the Applicable Period, the Compensation Committee and Conflicts Committee of the General Partner shall approve the annual awards granted under the TLP Management Services LLC Savings and Retention Plan or any similar successor plan (the “Plan”) to employees performing Services to or for the benefit of the Partnership Group. The aggregate amount of such awards shall be no less than $1.5 million per year. As awards are payable in accordance with the vesting and payment schedule provided in the Plan, the Partnership shall have the option of paying the awards either in cash or in the Common Units. Payments in cash or in the Common Units may be made to TLP Management Services LLC, as the Plan administrator, for the benefit of the plan participants or, alternatively, directly to the plan participants.
		

		
			(c)        During the Applicable Period, if TLP Management Services procures insurance with respect to the Partnership Group, the Assets or operations thereof,  then the Partnership shall pay TLP Management Services or any applicable Affiliate of TLP Management Services an insurance reimbursement (the “Insurance Reimbursement”) equal to the amount of any premiums and fees payable under the applicable insurance policies. If at any time TLP Management Services proposes to renew or replace any insurance policy with respect to which a Partnership Entity currently has procured insurance, then TLP Management Services shall propose the procurement of such insurance policy to the General Partner, and such insurance policy shall be procured by TLP Management Services or an Affiliate thereof, subject to the reasonable approval of the General Partner, on behalf of the Partnership Group and with the concurrence of the Conflicts Committee.  TLP Management Services may increase the Insurance Reimbursement at any time in accordance with increases in the premiums or fees payable under the applicable insurance policies.  Notwithstanding the foregoing, at any time during the Applicable Period, the Partnership may procure insurance, and pay the amount of any premiums and fees payable in connection therewith, directly for and on behalf of itself, the Partnership Entities and the Assets or operations thereof.
		

		
			(i)         If, during any calendar year, any Partnership Entity proposes to increase the insurance coverage of any Partnership Entity or the Assets thereof such that the increase, together with any other increases in such calendar year, would result in the aggregate premiums and fees of the Partnership Group (on an annualized basis) being greater than the amount presented to the Board with respect to such calendar year in the annual budget for the procurement of insurance by at least 10%, such Partnership Entity shall, 15 days prior to the procurement of such insurance, propose to TLP Management Services in writing either (1) a plan to procure an insurance policy, in which case TLP Management Services may accept or reject such plan or propose to procure such insurance coverage or (2) that a PPH Entity procure such insurance coverage.  If a PPH Entity procures insurance coverage, then such coverage shall be subject to the approval of the General Partner, on behalf of the Partnership Group and with the concurrence of the Conflicts Committee and, upon approval by the General Partner, the Insurance
		

		
			
		

		
			

		 

		

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			Reimbursement shall be increased by the amount of any premiums and fees under such insurance policy.
		

		
			(d)        On each anniversary of the Effective Date during the Applicable Period, the Partnership will have the right to submit to TLP Management Services a proposal to reduce the amount of the Administrative Fee for that year if the Partnership believes, in good faith, that the Services performed by TLP Management Services for the year in question do not justify payment of the full Administrative Fee for that year. If the Partnership submits such a proposal to TLP Management Services, then TLP Management Services agrees that it will negotiate in good faith with the Partnership to determine if the Administrative Fee for that year should be reduced and, if so, by how much.
		

		
			(e)        At any time during the Applicable Period and following the approval of the Conflicts Committee and the General Partner’s board of directors, the Partnership Group may elect to assume direct financial responsibility for each of the employees within a particular business unit who perform certain identified management, professional, administrative or support Services on behalf of the Partnership Group, including all costs and expenses, salary, bonus, benefits, taxes and assessments associated with all personnel dedicated to the Service.  Following such election, the personnel performing such Services for the Partnership Group will be deemed for all purposes hereof to be “On-Site Employees”  (as defined in Section 2.1(h)(i)) for the remainder of the Applicable Period and TLP Management Services shall be directly reimbursed for the associated costs and expenses for the personnel performing such Services in accordance with Section 3.1(b) hereof and the Administrative Fee will be reduced by an equal amount.  The parties hereby acknowledge and agree that from and after the Effective Date, the Partnership Group will assume direct financial responsibility for that portion of the Services that are provided by the Engineering and the ESOH personnel (which personnel are hereby designated as On-Site Employees).  Pursuant thereto, TLP Management Services shall be directly reimbursed for the associated costs and expenses for the  Engineering and the ESOH personnel in accordance with Section 3.1(b) hereof and the Parties hereby agree that the Administrative Fee set forth in Section 2.1(a) above reflects such designation.
		

		
			(f)        Following the expiration of the Applicable Period, the General Partner will determine the amount of Services expenses and insurance premium expenses that are properly allocable to the Partnership Group, if any, in accordance with the terms of the Partnership Agreement.
		

		
			(g)        Employees of TLP Management Services performing Services to or for the benefit of the Partnership Group during the Applicable Period shall work solely under the direction, supervision, management and control of the Partnership with respect to the time spent in providing such Services; however, at all times such employees shall remain employees of TLP Management Services.  For the avoidance of doubt, during the Applicable Period in which employees of the TLP Management Services are performing Services to or for the benefit of the Partnership Group, the Partnership Group shall be ultimately and fully responsible for the daily work assignments of such employees, including supervision of their day-to-day work activities, training schedules and performance consistent with the purposes stated in Section 2.1(a).
		

		
			
		

		
			

		 

		

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			(h)        The Administrative Fee shall not include and the Partnership Group shall reimburse TLP Management Services for:
		

		
			(i)         wages and salaries of employees of TLP Management Services, to the extent, but only to the extent, such employees perform Services for the Partnership Group on-site at any Asset (the “On-Site Employees”);
		

		
			(ii)       the cost of employee benefits relating to On-Site Employees, such as 401(k), pension, and health insurance benefits, to the extent;
		

		
			(iii)      out-of-pocket costs and expenses incurred by TLP Management Services on behalf of the Partnership Group, including the incremental general and administrative expenses of the Partnership’s status as a public company, such as K-1 preparation, external audit, internal audit, transfer agent and registrar, legal, printing, unitholder reports, and other costs and expenses;
		

		
			(iv)       all sales, use, excise, value added or similar taxes, other than taxes measured by income, if any, that may be applicable from time to time in respect of the Services; and
		

		
			(v)        any services (including with respect to the forgoing clauses (i)-(iv)) that are outsourced by TLP Management Services to third parties with the concurrence of the Conflicts Committee.
		

		
			ARTICLE III
		

		
			3.1       Operational Services.  During the Applicable Period:
		

		
			(a)        TLP Management Services, acting on behalf of the Partnership, shall make available such employees as may reasonably be required for the conduct by the Partnership Group of its operations, including the employees described in Section 2.1(h)(i) and 2.1(h)(ii) with respect to Services for the Partnership Group performed on-site at any Asset.
		

		
			(b)        With respect to the On-Site Employees, TLP Management Services shall be reimbursed on a biweekly basis for (a) all direct and indirect expenses incurred, or payments made, on behalf of the Partnership Group (including salary, bonus, incentive compensation and all other amounts paid to any persons who assist in the conduct of the Partnership Group operations) and (b) all other necessary or appropriate expenses allocable to the Partnership Group (including expenses allocated to TLP Management Services by any of their respective Affiliates).  TLP Management Services shall determine the expenses that are allocable to the Partnership Group in any reasonable manner determined by TLP Management Services in its sole discretion.
		

		
			(c)        On-Site Employees performing services described in Section 3.1(a) to or for the benefit of the Partnership Group during the Applicable Period shall work solely under the direction, supervision, management and control of the Partnership with respect to the time spent in providing such services; however, at all times such On-Site Employees shall remain employees of TLP Management Services.  For the avoidance of doubt, during the Applicable
		

		
			
		

		
			

		 

		

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			Period in which On-Site Employees of TLP Management Services are performing services to or for the benefit of the Partnership Group, the Partnership Group shall be ultimately and fully responsible for the daily work assignments of such On-Site Employees, including supervision of their day-to-day work activities, training schedules and performance consistent with the purposes stated in Section 3.1(a).
		

		
			ARTICLE IV
		

		
			Miscellaneous
		

		
			4.1       Choice of Law; Jurisdiction.
		

		
			(a)        This Restated Agreement shall be governed by and construed in accordance with the law of the State of Delaware, without regard to the conflicts of law rules of such state.
		

		
			(b)        The Parties hereto agree that any suit, action or proceeding seeking to enforce any provision of, or based on any matter arising out of or in connection with, this Restated Agreement or the transactions contemplated hereby shall be brought and determined exclusively in in the Delaware Court of Chancery and any state appellate court therefrom within the State of Delaware (or, if the Delaware Court of Chancery declines to accept jurisdiction over a particular matter, any state or federal court within the State of Delaware), and that any cause of action arising out of this Restated Agreement shall be deemed to have arisen from a transaction of business in the State of Delaware, and each of the Parties hereby irrevocably consents to the jurisdiction of such courts (and of the appropriate appellate courts therefrom) in any such suit, action or proceeding and irrevocably waives, to the fullest extent permitted by law, any objection that it may now or hereafter have to the laying of the venue of any such suit, action or proceeding in any such court or that any such suit, action or proceeding brought in any such court has been brought in an inconvenient forum. Process in any such suit, action or proceeding may be served on any party anywhere in the world, whether within or without the jurisdiction of any such court. Without limiting the foregoing, each Party agrees that service of process on such Party as provided in Section 4.2 shall be deemed effective service of process on such Party.
		

		
			4.2       Notice. All notices or requests or consents provided for by, or permitted to be given pursuant to, this Restated Agreement must be in writing and must be given by depositing same in the United States mail, addressed to the Person to be notified, postpaid, and registered or certified with return receipt requested or by delivering such notice in person or by telecopier or telegram to such Party. Notice given by personal delivery or mail shall be effective upon actual receipt. Notice given by telegram or telecopier shall be effective upon actual receipt if received during the recipient’s normal business hours or at the beginning of the recipient’s next business day after receipt if not received during the recipient’s normal business hours. All notices to be sent to a Party pursuant to this Restated Agreement shall be sent to or made at the address set forth below such Party’s signature to this Restated Agreement or at such other address as such Party may stipulate to the other Parties in the manner provided in this Section 4.2.
		

		
			if to the Partnership Entities:
		

		
			TransMontaigne Partners L.P.
		

		
			
		

		
			

		 

		

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			c/o TransMontaigne GP L.L.C.
		

		
			1670 Broadway
		

		
			Suite 3100
		

		
			Denver, Colorado 80202
		

		
			Attention: Chief Executive Officer
		

		
			Fax: 303-626-8228
		

		
			if to TLP Management Services:
		

		
			TLP Management Services LLC
		

		
			c/o ArcLight Capital Partners, LLC
		

		
			200 Clarendon Street, 55th Floor
		

		
			Attention: General Counsel
		

		
			Fax: 617-867-4698
		

		
			E-mail: tburke@arclightcapital.com
		

		
			4.3       Entire Agreement. This Restated Agreement constitutes the entire agreement of the Parties relating to the matters contained herein, superseding all prior contracts or agreements, whether oral or written, relating to the matters contained herein.
		

		
			4.4       Termination. Notwithstanding any other provision of this Restated Agreement, if the General Partner is removed as general partner of the Partnership under circumstances where Cause does not exist and Units held by the General Partner and its Affiliates are not voted in favor of such removal, then this Restated Agreement may immediately thereupon be terminated by Gulf.
		

		
			4.5       Amendment or Modification. This Restated Agreement may be amended or modified from time to time only by the written agreement of all the Parties hereto; provided, however, that the Partnership may not, without the prior approval of the Conflicts Committee, agree to any amendment or modification of this Restated Agreement that the General Partner determines will adversely affect the holders of Common Units. Each such instrument shall be reduced to writing and shall be designated on its face an “Amendment” or an “Addendum” to this Restated Agreement.
		

		
			4.6       Assignment. No Party shall have the right to assign any of its rights or obligations under this Restated Agreement without the consent of the other Parties hereto.
		

		
			4.7       Counterparts. This Restated Agreement may be executed in any number of counterparts with the same effect as if all signatory parties had signed the same document. All counterparts shall be construed together and shall constitute one and the same instrument.
		

		
			4.8       Severability. If any provision of this Restated Agreement shall be held invalid or unenforceable by a court or regulatory body of competent jurisdiction, then the remainder of this Restated Agreement shall remain in full force and effect.
		

		
			4.9       Further Assurances. In connection with this Restated Agreement and all transactions contemplated by this Restated Agreement, each signatory party hereto agrees to execute and deliver such additional documents and instruments and to perform such additional
		

		
			
		

		
			

		 

		

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			acts as may be necessary or appropriate to effectuate, carry out and perform all of the terms, provisions and conditions of this Restated Agreement and all such transactions.
		

		
			4.10     Representations and Warranties. Each Party represents and warrants that this Restated Agreement has been duly authorized, executed and delivered by it and that this Restated Agreement constitutes its legal, valid, binding and enforceable obligation, enforceable against it in accordance with its terms, except to the extent such enforceability may be limited by the effect of any applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally and by general principles of equity.
		

		
			4.11     Rights of Limited Partners. The provisions of this Restated Agreement are enforceable solely by the Parties to this Restated Agreement, and no Limited Partner of the Partnership shall have the right, separate and apart from the Partnership, to enforce any provision of this Restated Agreement or to compel any Party to this Restated Agreement to comply with the terms of this Restated Agreement.
		

		
			4.12     Waiver of Jury Trial. Each Party hereby waives, to the fullest extent permitted by applicable law, any right it may have to a trial by jury in respect of any proceedings relating to this Restated Agreement.
		

		
			 
		

		
			 
		

		
			

		 

		

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			IN WITNESS WHEREOF, the Parties have executed this Restated Agreement effective as of the date first written above.
		

		
			 
		

			
					
						 

					
					
						TRANSMONTAIGNE GP L.L.C.

				
	
					
						 

					
					
						    

					
					
						 

				
	
					
						 

					
					
						By:

					
					
						 

				
	
					
						 

					
					
						 

					
					
						Name: Frederick W. Boutin

				
	
					
						 

					
					
						 

					
					
						Title: Chief Executive Officer

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						TRANSMONTAIGNE PARTNERS L.P.

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						By TransMontaigne GP L.L.C., its General Partner

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						By:

					
					
						/s/ Frederick W. Boutin

				
	
					
						 

					
					
						 

					
					
						Name: Frederick W. Boutin

				
	
					
						 

					
					
						 

					
					
						Title: Chief Executive Officer

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						TRANSMONTAIGNE OPERATING GP L.L.C.

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						By:

					
					
						/s/ Frederick W. Boutin

				
	
					
						 

					
					
						 

					
					
						Name: Frederick W. Boutin

				
	
					
						 

					
					
						 

					
					
						Title: Chief Executive Officer

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						TRANSMONTAIGNE OPERATING COMPANY L.P.

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						By TransMontaigne Operating GP L.L.C., its General Partner

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						By:

					
					
						/s/ Frederick W. Boutin

				
	
					
						 

					
					
						 

					
					
						Name: Frederick W. Boutin

				
	
					
						 

					
					
						 

					
					
						Title: Chief Executive Officer

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						TLP MANAGEMENT SERVICES LLC

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						By:

					
					
						 

				
	
					
						 

					
					
						 

					
					
						Name:

				
	
					
						 

					
					
						 

					
					
						Title:

				

		
			 
		

		
			 
		

		
			Third Amended and Restated Omnibus Agreementex_113359.htm

Exhibit 10.32

 

AMENDMENT NO. 1 TO 

THE PROVIDENCE SERVICE CORPORATION

NON-QUALIFIED STOCK OPTION AGREEMENT

 

May 1, 2018

 

This Amendment No. 1 (this “Amendment”) amends the letter agreement (the “Agreement”) by and between The Providence Service Corporation, a Delaware corporation (the “Company”), and R. Carter Pate (the “Optionee”) dated as of April 9, 2018 and executed by the Optionee on April 11, 2018. Capitalized terms used and not defined herein shall have the meanings ascribed in such terms in the Agreement.

 

WHEREAS, the Optionee desires that an equity incentive pool (the “Pool”) be established by the Company to reward, in a manner to be determined, the performance of certain employees reporting directly and/or indirectly to the Optionee, and the Company has determined to establish the Pool; and

 

WHEREAS, in consideration therefor, the Optionee and the Company wish to modify the Agreement as set forth in this Amendment to provide that the number of shares of common stock subject to the option granted under the Agreement be reduced and the value used to fund the Pool, in a manner to be determined;

 

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:

 

1.     Shares Subject to Option. The number of shares of Common Stock subject to the option granted under the Agreement is hereby reduced by 98,500 (i.e., from 394,000 to 295,500).

 

2.     No Other Amendments or Supplements to the Agreement. On and after the date hereof, (i) each reference in the Agreement to “this Agreement”, “herein”, “hereof”, “hereunder” or words of similar import and (ii) each reference to the “Option Agreement” in the vesting conditions applicable to the options described in the Agreement shall mean and be a reference to the Agreement as amended and supplemented hereby. Any reference in the Agreement to “the date hereof” or similar words of similar import shall continue to refer to April 9, 2018 and, except as otherwise expressly provided herein, all other terms and conditions of the Agreement shall remain unchanged and continue in full force and effect.

 

3.     Other Terms. The choice of law provisions of the Agreement shall apply mutatis mutandis to this Amendment, and to the Agreement as modified by this Amendment, taken together as a single agreement, reflecting the terms therein as modified hereby.

 

[Remainder of Page Intentionally Left Blank]

 

 

 

 

IN WITNESS WHEREOF, each of the parties hereto has caused this Amendment to be duly executed on its behalf as of the day and year first above written.

 

 

 

	 	THE PROVIDENCE SERVICE CORPORATION
	 	 	 
	 	 	 
	 	By: 	/s/ Rich Kerley
	 	 	Name:   Rich Kerley
	 	 	Title:     Director
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	OPTIONEE
	 	 	 
	 	 	 
	 	/s/R. Carter Pate
	 	R. Carter Pate

 

 

 

[Signature Page to Amendment No. 1 to the Non-Qualified Stock Option Agreement]

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