Document:

Untitled Document

Exhibit 4.1

 

Execution Version

 
FIRST AMENDMENT TO CREDIT AND GUARANTY AGREEMENT

 

 

THIS FIRST AMENDMENT TO CREDIT AND GUARANTY AGREEMENT (this “Amendment”) is entered into as of March 9, 2016 by and among HERE TO SERVE – MISSOURI WASTE DIVISION, LLC, a Missouri limited liability company (“HTS MWD”), HERE TO SERVE – GEORGIA
WASTE DIVISION, LLC, a Georgia limited liability company (“HTS GWD”), BROOKLYN CHEESECAKE & DESSERT ACQUISITION CORP., a New York corporation (“BCDA”), MERIDIAN LAND COMPANY, LLC, a Georgia limited liability company (“MLC”), CHRISTIAN DISPOSAL, LLC, a Missouri limited liability company (“Christian
Disposal”), and FWCD, LLC, a Missouri limited liability company (“FWCD” and together with HTS MWD, HTS GWD, BCDA, MLC, and Christian Disposal, the “Companies” and each, a “Company”), MERIDIAN WASTE SOLUTIONS, INC., a New York corporation (“Holdings”) and certain
subsidiaries of Holdings, the Lenders from time to time party thereto and GOLDMAN SACHS SPECIALTY LENDING GROUP, L.P., as administrative agent for the Lenders (in such capacity, the “Administrative Agent”), Collateral Agent and Lead Arranger.

 

RECITALS

 

A.           The Companies, Holdings, Lenders and Administrative Agent are parties to that certain Credit and Guaranty Agreement, dated as of December 22, 2015 (as amended, restated, supplemented or otherwise modified from time to time, the “Credit
Agreement”; capitalized terms used herein and not otherwise defined shall have the meanings assigned to such terms in the Credit Agreement), pursuant to which the Lenders have made certain financial accommodations available to the Companies;

B.           The Companies have requested that the Lenders amend certain provisions of the Credit Agreement, waive certain Events of Default and provide certain consents, and, subject to the terms and conditions hereof, the Lenders executing this Amendment are willing to do so;

NOW, THEREFORE, in consideration of the premises and the mutual covenants hereinafter contained, and intending to be legally bound, the parties hereto agree as follows:

 

A. AMENDMENTS

 

1. Section 1.1 of the Credit Agreement is amended by replacing the definitions of “Consolidated Adjusted EBITDA” and “Consolidated Fixed Charges” in their entirety with the following:

 

 

 

“Consolidated Adjusted EBITDA” means, for any period, an amount determined for Holdings and its Subsidiaries on a consolidated basis equal to (i) the sum, without duplication, of the amounts for such period of (a) Consolidated Net Income, plus (b) Consolidated Interest Expense, plus (c) provisions
for taxes based on income, plus (d) total depreciation expense, plus (e) total amortization expense, plus (f) Consolidated Corporate Overhead, plus (g) other non Cash items reducing Consolidated Net Income (excluding any such non Cash item to the extent that it represents an accrual or reserve for potential Cash items in any future period or amortization of a prepaid Cash item that was paid in a prior period), plus (h) any other amounts approved by the Administrative Agent in its sole discretion, minus (ii) the
sum, without duplication of the amounts for such period of (a) other non Cash items increasing Consolidated Net Income for such period (excluding any such non Cash item to the extent it represents the reversal of an accrual or reserve for potential Cash item in any prior period), plus (b) interest income, plus (c) other income.

“Consolidated Fixed Charges” means, for any period, the sum, without duplication, of the amounts determined for Holdings and its Subsidiaries on a consolidated basis equal to (i) Consolidated Cash Interest Expense, (ii) scheduled payments of principal on Consolidated Total Debt, (iii) Consolidated
Maintenance Capital Expenditures and (iv) the current portion of taxes provided for with respect to such period in accordance with GAAP.

2. Section 1.1 of the Credit Agreement is further amended by inserting the following new defined term in appropriate alphabetical order:

“Consolidated Maintenance Capital Expenditures” means, for any period, Consolidated Capital Expenditures other than Consolidated Growth Capital Expenditures.

3. Schedule 5.15 of the Credit Agreement is hereby amended by replacing “On or prior to the date that is 30 days following the Closing Date” with the words “On or prior to March 23, 2016” in each of items (4), (7) and (8)
of such Schedule 5.15.

B. LIMITED WAIVER

 

The Lenders hereby waive the Events of Default that have occurred and are continuing (a) under Section 8.1(c) of the Credit Agreement due to the failure of the monthly financial statements delivered with respect to the month ending December 31, 2015 to satisfy the requirements set forth in Section 5.1(a) of the Credit Agreement, (b) under Section 8.1(c) of the Credit
Agreement due to the failure of the Credit Parties to deliver a Compliance Certificate with respect to the fiscal month and Fiscal Quarter ending December 31, 2015 when required under Section 5.1(d) of the Credit Agreement and (c) under Section 8.1(c) of the Credit Agreement due to the failure of the Credit Parties to satisfy the requirements of Section 5.15 of the Credit Agreement with respect to items (4), (7) and (8) set forth on such Schedule 5.15 on or prior to the dates set forth in such Schedule 5.15.
The waivers set forth in this Section B are limited to the specified Events of Default set forth herein and nothing herein, nor any communications among Administrative Agent, any Lender or any Credit Party shall be deemed a waiver with respect to any other Default or Event of Default, or any future failure of any Credit Party to comply fully with any provision of the Credit Agreement or any provision of any other Credit Document (including, but not limited to, any future failure to satisfy the requirements of
items (4), (7) and (8) of Schedule 5.15 to the Credit Agreement on or prior to the amended dates provided in this Amendment and any possible future Default or Event of Default of which the Administrative Agent or any Lender may have been advised).

 

 

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C. CONSENTS

 

1.     The Lenders consent to the delivery of an audit report of D’Arelli Pruzansky PA with respect to the consolidated financial statements for the Fiscal Year ending December 31, 2015, notwithstanding the requirement under Section 5.1(c) of the Credit Agreement that Holdings deliver a report of independent certified public accountants of recognized
national standing together with the consolidated financial statements for each Fiscal Year. This consent is limited to the delivery of a report of independent certified public accountants with respect to the consolidated financial statements for the Fiscal Year ending December 31, 2015.

 

2.     The Lenders hereby consent to the filing by Holdings of both (x) a Form 8-K/A to amend the 8-K filed by Holdings on December 29, 2015 to include historical financial statements with respect to the Closing Date Acquisitions and any additional pro forma financial information required and (y) a Form 10-K with respect to the Fiscal Year ending December
31, 2015 within any extension period permitted under the Securities Act, Exchange Act and rules and regulations thereunder, notwithstanding the requirement under Section 6.16 of the Credit Agreement that Holdings ensure that all filings with the Securities and Exchange Commission required under the Securities Act, Exchange Act or the rules and regulations thereunder be made on or prior to the date required, without giving effect to any extension or possible extension of such dates permitted thereunder. This consent
is limited to the filings specified and all other filings shall comply with Section 6.16 of the Credit Agreement.

 

D. CONDITIONS TO EFFECTIVENESS

 

Notwithstanding any other provision of this Amendment and without affecting in any manner the rights of the Lenders hereunder, it is understood and agreed that this Amendment shall not become effective, the Credit Parties shall have no rights under this Amendment, until Administrative Agent shall have received each of the following:

 

(i)  reimbursement or payment of its costs and expenses incurred in connection with this Amendment or the Credit Agreement (including reasonable fees, charges and disbursements of counsel to Administrative Agent) to the extent invoiced prior to the date hereof;
and

 

(ii) 

executed counterparts to this Amendment from each Company, each other Credit Party, and each of the Lenders.

 

E. REPRESENTATIONS

 

To induce the Lenders and Administrative Agent to enter into this Amendment, each Credit Party hereby represents and warrants to the Lenders and the Administrative Agent that:

 

1.    The execution, delivery and performance by such Credit Party of this Amendment (a) are within each Credit Party’s corporate or limited liability company power; (b) have been duly authorized by all necessary corporate, limited liability company and/or shareholder action, as applicable; (c) are not in contravention of any provision
of any Credit Party’s certificate of incorporation or formation, or bylaws or other organizational documents; (d) do not violate any law or regulation, or any order or decree of any Governmental Authority; (e) do not conflict with or result in the breach or termination of, constitute a default under or accelerate any performance required by, any indenture, mortgage, deed of trust, lease, agreement or other instrument to which any Credit Party or any of its Subsidiaries is a party or by which any
Credit Party or any such Subsidiary or any of their respective property is bound; (f) do not result in the creation or imposition of any Lien upon any of the property of any Credit Party or any of its Subsidiaries; and (g) do not require the consent or approval of any Governmental Authority or any other person;

 

 

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2.     This Amendment has been duly executed and delivered for the benefit of or on behalf of each Credit Party and constitutes a legal, valid and binding obligation of each Credit Party, enforceable against such Credit Party in accordance with its terms except as the enforceability hereof may be limited by bankruptcy, insolvency, reorganization, moratorium
and other laws affecting creditors’ rights and remedies in general; and

 

3.      After giving effect to this Amendment, the representations and warranties contained in the Credit Agreement and the other Credit Documents are true and correct in all material respects, and no Default or Event of Default has occurred and is continuing as of the date hereof.

 

F. OTHER AGREEMENTS

 

1. Continuing Effectiveness of Credit Documents. As amended hereby, all terms of the Credit Agreement and the other Credit Documents shall be and remain in full force and effect and shall constitute the legal, valid, binding
and enforceable obligations of the Credit Parties party thereto and each Credit Party reaffirms and ratifies all terms of the Credit Agreement, as amended hereby, and other Credit Documents. To the extent any terms and conditions in any of the other Credit Documents shall contradict or be in conflict with any terms or conditions of the Credit Agreement, after giving effect to this Amendment, such terms and conditions are hereby deemed modified and amended accordingly to reflect the terms and conditions of the
Credit Agreement as modified and amended hereby. Upon the effectiveness of this Amendment such terms and conditions are hereby deemed modified and amended accordingly to reflect the terms and conditions of the Credit Agreement as modified and amended hereby.

 

2. Reaffirmation of Guaranty. Each Guarantor consents to the execution and delivery by the Companies of this Amendment and the consummation of the transactions described herein, and ratifies and confirms the terms of the
Guaranty to which such Guarantor is a party with respect to the indebtedness now or hereafter outstanding under the Credit Agreement as amended hereby and all promissory notes issued thereunder. Each Guarantor acknowledges that, notwithstanding anything to the contrary contained herein or in any other document evidencing any indebtedness of any Company to the Lenders or any other obligation of any Company, or any actions now or hereafter taken by the Lenders with respect to any obligation of any Company, the
Guaranty to which such Guarantor is a party (i) is and shall continue to be a primary obligation of such Guarantor, (ii) is and shall continue to be an absolute, unconditional, continuing and irrevocable guaranty of payment, and (iii) is and shall continue to be in full force and effect in accordance with its terms. Nothing contained herein to the contrary shall release, discharge, modify, change or affect the original liability of any Guarantor under the Guaranty to which such Guarantor is a party.

 

 

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3. Acknowledgment of Perfection of Security Interest. Each Credit Party hereby acknowledges that, as of the date hereof, the security interests and liens granted to Administrative Agent and the Lenders under the Credit
Agreement and the other Credit Documents are in full force and effect, are properly perfected and are enforceable in accordance with the terms of the Credit Agreement and the other Credit Documents.

 

4. Effect of Agreement. Except as set forth expressly herein, all terms of the Credit Agreement, as amended hereby, and the other Credit Documents shall be and remain in full force and effect and shall constitute the legal,
valid, binding and enforceable obligations of the Credit Parties to the Lenders and Administrative Agent. The execution, delivery and effectiveness of this Amendment shall not, except as expressly provided herein, operate as a waiver of any right, power or remedy of the Lenders under the Credit Agreement, nor constitute a waiver of any provision of the Credit Agreement. This Amendment shall constitute a Credit Document for all purposes of the Credit Agreement.

 

5. Governing Law. This Amendment shall be governed by, and construed in accordance with, the internal laws of the State of New York and all applicable federal laws of the United States
of America.

 

6. No Novation. This Amendment is not intended by the parties to be, and shall not be construed to be, a novation of the Credit Agreement and the other Credit Documents or an accord
and satisfaction in regard thereto.

 

7. Costs and Expenses. The Companies agree to pay on demand all costs and expenses of Administrative Agent in connection with the preparation, execution and delivery of this Amendment, including, without limitation, the
reasonable fees and out-of-pocket expenses of outside counsel for Administrative Agent with respect thereto.

 

8. Counterparts. This Amendment may be executed by one or more of the parties hereto in any number of separate counterparts, each of which shall be deemed an original and all of which, taken together, shall be deemed to
constitute one and the same instrument. Delivery of an executed counterpart of this Amendment by facsimile transmission, electronic transmission (including delivery of an executed counterpart in .pdf format) shall be as effective as delivery of a manually executed counterpart hereof.

 

9. Binding Nature. This Amendment shall be binding upon and inure to the benefit of the parties hereto, their respective successors, successors-in-titles, and assigns. No third party beneficiaries are intended in connection
with this Amendment.

 

10. Entire Understanding. This Amendment sets forth the entire understanding of the parties with respect to the matters set forth herein, and shall supersede any prior negotiations or agreements, whether written or oral,
with respect thereto.

 

 

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11. Release. Each Credit Party hereby releases, acquits, and forever discharges Administrative Agent and each of the Lenders, and each and every past and present subsidiary, affiliate,
stockholder, officer, director, agent, servant, employee, representative, and attorney of Administrative Agent and the Lenders, from any and all claims, causes of action, suits, debts, liens, obligations, liabilities, demands, losses, costs and expenses (including reasonable attorneys' fees) of any kind, character, or nature whatsoever, known or unknown, fixed or contingent, which such Credit Party may have or claim to have now or which may hereafter arise out of or connected with any act of commission or omission
of Administrative Agent or the Lenders existing or occurring prior to the date of this Amendment or any instrument executed prior to the date of this Amendment including, without limitation, any claims, liabilities or obligations arising with respect to the Credit Agreement or the other of the Credit Documents, other than claims, liabilities or obligations caused by Administrative Agent's or any Lender's own gross negligence or willful misconduct. The provisions of this paragraph shall be binding upon each Credit
Party and shall inure to the benefit of Administrative Agent, the Lenders, and their respective heirs, executors, administrators, successors and assigns.

 

[remainder of page intentionally left blank]

 

 

 

 

 

 

 

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IN WITNESS WHEREOF, this Amendment has been duly executed as of the date first written above.

 

	
 
	
HERE TO SERVE – MISSOURI WASTE DIVISION, LLC

 

By: /s/ Jeffrey Cosman                                                            

Name: Jeffrey Cosman

Title: Manager

 

MERIDIAN WASTE SOLUTIONS, INC., as Holdings

 

 

By: /s/ Jeffrey Cosman                                                            

Name: Jeffrey Cosman

Title: Chief Executive Officer

 

HERE TO SERVE – GEORGIA WASTE DIVISION, LLC

 

 

By: /s/ Jeffrey Cosman                                                            

Name: Jeffrey Cosman

    Title: Manager

 

BROOKLYN CHEESECAKE & DESSERT ACQUISITION CORP.

 

By: /s/ Jeffrey Cosman                                                            

        Name: Jeffrey Cosman

        Title: President

 

MERIDIAN LAND COMPANY, LLC

 

 

By: /s/ Jeffrey Cosman                                                            

        Name: Jeffrey Cosman

        Title: Manager

 

[Signature Page to First Amendment to Credit and Guaranty Agreement]

 

 

 

	
 
	
CHRISTIAN DISPOSAL, LLC

 

 

By: /s/ Jeffrey Cosman                                                            

        Name: Jeffrey Cosman

        Title: Manager

 

FWCD, LLC

 

 

By: /s/ Jeffrey Cosman                                                            

        Name: Jeffrey Cosman

        Title: Manager

 

 

 

 

[Signature Page to First Amendment to Credit and Guaranty Agreement]

 

 

	
 
	

GOLDMAN SACHS SPECIALTY LENDING GROUP, LP, as Administrative Agent

 

 

By: /s/ Justin Betzen                                       

       Name: Justin Betzen

       Title: Senior Vice President

 

 

GOLDMAN SACHS SPECIALTY LENDING HOLDINGS, INC., as a Lender

 

 

By: /s/ Justin Betzen                                       

       Name: Justin Betzen

       Title: Senior Vice President

 

 
 

 

[Signature Page to First Amendment to Credit and Guaranty Agreement]EX-10.1

 Exhibit 10.1 

STOCK REPURCHASE AGREEMENT 
 THIS STOCK
REPURCHASE AGREEMENT (this “Agreement”) is entered into as of March 9, 2016 by and between Fox Factory Holding Corp. (the “Company”) and Compass Group Diversified Holdings LLC (the “Seller”). 

BACKGROUND 
  

	 	A.	The Seller beneficially owns 15,108,718 shares of the Company’s common stock, $0.001 par value per share (“Common Stock”); 

 

	 	B.	The Seller intends to sell in an underwritten public offering (the “Public Offering”) a portion of their shares of Common Stock (such portion, the “Underwritten Shares”); 

 

	 	C.	The Seller intends to sell to the Company, and the Company intends to purchase from the Seller, in a private, non-underwritten transaction, a portion of the shares of Common Stock held by the Seller at the price and
upon the terms and conditions provided in this Agreement (the “Repurchase”) if the Seller sells shares in the Public Offering within the time frames referenced herein; 

 

	 	D.	The Company intends to use cash on hand and borrowings from its revolving credit agreement to complete the Repurchase; 

  

	 	E.	The consummation of the Repurchase is contingent upon the consummation of the Public Offering; 

  

	 	F.	The members of the Board of Directors of the Company who are not affiliated with the Seller (the “Disinterested Directors”) deliberated outside of the presence of the interested directors, with the approval of
the Repurchase as a related party transaction by the Nominating and Corporate Governance Committee in hand, to determine whether to authorize and to negotiate the terms of the Repurchase; and 

 

	 	G.	The Disinterested Directors have unanimously approved the Repurchase and the transactions that may be required in connection therewith. 

THEREFORE, in consideration of the mutual covenants herein and for other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the undersigned hereby agree as follows: 
 AGREEMENT 

 

	1)	Repurchase. 

  

	 	a)	Subject to the satisfaction of the terms and conditions set forth herein, the Seller hereby agrees to sell, and the Company agrees to purchase from the Seller, the Repurchase Shares at the Per Share Purchase Price, each
of such terms as set forth on Schedule A hereto. At the Closing (as defined below), subject to the satisfaction of the terms and conditions set forth herein, the Seller agrees to sell the Repurchase Shares to the Company, and the Company
hereby agrees to purchase the Repurchase Shares from the Seller at the Per Share Purchase Price. 

	 	b)	The obligations of the Seller to sell and the Company to purchase the Repurchase Shares shall be conditioned upon each of: (i) the execution of an underwriting agreement by and among the Company, the Seller, any
additional selling stockholder and the underwriter named therein related to the Public Offering (the “Underwriting Agreement”) within two business days after the date hereof; (ii) the closing of the Public Offering immediately prior
to the Repurchase pursuant to the Underwriting Agreement no later than ten business days from the date of the Underwriting Agreement; and (iii) the Underwritten Shares in the Public Offering shall be no less than 2,500,000. 

 

	 	c)	The closing of the Repurchase (the “Closing”) shall occur immediately after the closing of the Public Offering, or at such other time or place after the Public Offering as may be agreed upon by the Company and
the Seller. At the Closing, the Seller shall deliver to the Company or as instructed by the Company duly executed stock powers relating to the Repurchase Shares, as applicable, and the Company agrees to deliver to the Seller an aggregate dollar
amount equal to the product of the Per Share Purchase Price and the total number of Repurchase Shares by wire transfer of immediately available funds. 

  

	2)	Company Representations. In connection with the transactions contemplated hereby, the Company represents and warrants to the Seller that: 

 

	 	(a)	All consents, approvals, authorizations and orders necessary for the execution, delivery and performance by the Company of this Agreement and for the purchase and receipt of the Repurchase Shares to be purchased by the
Company hereunder, have been obtained; and the Company has full right, power and authority to enter into this Agreement and to purchase and receive the Repurchase Shares to be purchased by the Company hereunder. 

 

	 	(b)	The Company is a corporation duly organized and existing under the laws of the State of Delaware. 

  

	 	(c)	This Agreement has been duly authorized, executed and delivered by the Company. 

  

	 	(d)	The compliance by the Company with this Agreement and the consummation of the transactions herein contemplated will not (i) conflict with or result in a breach or violation of any of the material terms or
provisions of, or constitute a default under any material indenture, material mortgage, material deed of trust, material loan agreement or other material agreement or instrument to which the Company or any of its subsidiaries is a party or by which
the Company or any of its subsidiaries is bound or to which any of the property or assets of the Company or any of its subsidiaries is subject, (ii) violate any provision of the certificate of incorporation or by-laws, or other organizational
documents, as applicable, of the Company or (iii) violate any applicable statute or any order, rule or regulation of any court or governmental agency or body having jurisdiction over the Company or any of its subsidiaries or any of their
properties; except, in the case of clauses (i) and (iii), as would not reasonably be expected to have a material adverse effect on the business, management, financial position or results of operations of the Company and its subsidiaries, taken
as a whole or the ability of the Company to consummate the Repurchase (a “Material Adverse Effect”), in the case of each such clause, after giving effect to any consents, approvals, authorizations, orders, registrations, qualifications,
waivers and amendments as will have been obtained or made as of the date of this Agreement. 

  

	3)	Seller Representations. In connection with the transactions contemplated hereby the Seller represents and warrants to the Company that: 

	 	(a)	All consents, approvals, authorizations and orders necessary for the execution and delivery by the Seller of this Agreement and for the sale and delivery of the Repurchase Shares to be sold by the Seller hereunder, have
been obtained; and the Seller has full right, power and authority to enter into this Agreement and to sell, assign, transfer and deliver the Repurchase Shares to be sold by the Seller hereunder. 

 

	 	(b)	This Agreement has been duly authorized, executed and delivered by the Seller. 

  

	 	(c)	The sale of the Repurchase Shares to be sold by the Seller hereunder and the compliance by the Seller with all of the provisions of this Agreement and the consummation of the transactions contemplated herein will not
(i) conflict with or result in a breach or violation of any of the terms or provisions of, or constitute a default under, any statute, indenture, material mortgage, material deed of trust, material loan agreement or other material agreement or
instrument to which the Seller or any of its subsidiaries is a party or by which the Seller or any of its subsidiaries is bound or to which any of the property or assets of the Seller or any of its subsidiaries is subject, or (ii) result in any
violation of the provisions of any (x) organizational or similar documents pursuant to which the Seller was formed or (y) any applicable statute or any applicable order, rule or regulation of any court or governmental agency or body having
jurisdiction over the Seller or the property of the Seller; except in the case of clause (i) or clause (ii)(y), for such conflicts, breaches, violations or defaults as would not impair in any material respect the consummation of the
Seller’s obligations hereunder or would not have a Material Adverse Effect upon the Seller. 

  

	 	(d)	As of the date hereof and immediately prior to the delivery of the Repurchase Shares to the Company at the Closing, the Seller holds and will hold valid title to the Repurchase Shares, and holds and will hold such
Repurchase Shares free and clear of all liens, encumbrances, equities or claims. 

  

	 	(e)	The Seller (either individually or each together with their advisors) has such knowledge and experience in financial or business matters that it is capable of evaluating the merits and risks of the Repurchase. The
Seller has had the opportunity to ask questions and receive answers concerning the terms and conditions of the Repurchase as they have requested. The Seller has received all information that it believes is necessary or appropriate in connection with
the Repurchase. The Seller acknowledges that the Seller has not relied upon any express or implied representations or warranties of any nature made by or on behalf of the Company, whether or not any such representations, warranties or statements
were made in writing or orally, except as expressly set forth for the benefit of the Seller in this Agreement. 

  

	4)	Termination. This Agreement shall automatically terminate and be of no further force and effect in the event that any of the conditions in paragraph 1(b) of this Agreement is not satisfied.

  

	5)	Notices. All notices, demands or other communications to be given or delivered under or by reason of the provisions of this Agreement will be in writing and will be deemed to have been given when delivered
personally, mailed by certified or registered mail, return receipt requested and postage prepaid, or sent via a nationally recognized overnight courier, or sent via facsimile or electronic mail to the recipient. Such notices, demands and other
communications will be sent to the address indicated below: 

 To the Company: 

 Fox Factory Holding Corp. 

915 Disc Drive 
 Scotts Valley,
California 95066 
 Attn: David Haugen, Esq. 

To the Seller: 
 Compass Group
Diversified Holdings LLC 
 Sixty One Wilton Road 

Second Floor 
 Westport, CT 06880

 Attn: Carrie Ryan, Esq. 
 or
such other address or to the attention of such other person as the recipient party shall have specified by prior written notice to the sending party. 
  

	6)	Miscellaneous. 

  

	 	(a)	Survival of Representations and Warranties. All representations and warranties contained herein or made in writing by any party in connection herewith shall survive the execution and delivery of this Agreement
and the consummation of the transactions contemplated hereby. 

  

	 	(b)	Severability. If any term or other provision of this Agreement shall be held invalid, illegal or unenforceable, the validity, legality or enforceability of the other provisions of this Agreement shall not be
affected thereby, and there shall be deemed substituted for the provision at issue a valid, legal and enforceable provision as similar as possible to the provision at issue. 

 

	 	(c)	No Prior Agreement. This Agreement supersedes all prior agreements and understandings (whether written or oral) among the parties hereto with respect to the subject matter hereof. 

 

	 	(d)	Counterparts. This Agreement may be executed in separate counterparts, each of which is deemed to be an original and all of which taken together constitute one and the same agreement. 

 

	 	(e)	Successors and Assigns. Neither this Agreement nor any of the rights, interests or obligations hereunder shall be assigned, in whole or in part, by any of the parties without the prior written consent of the
other parties. This Agreement shall be binding upon and inure solely to the benefit of the Seller and the Company and their respective successors and permitted assigns, and no other person shall acquire or have any right under or by virtue of this
Agreement. 

  

	 	(f)	No Third Party Beneficiaries or Other Rights. This Agreement is for the sole benefit of the parties hereto and their successors and permitted assigns and nothing herein express or implied shall give or shall be
construed to confer any legal or equitable rights or remedies to any person other than the parties to this Agreement and such successors and permitted assigns. 

  

	 	(g)	 Governing Law; Jurisdiction. THIS AGREEMENT AND ANY MATTERS RELATED TO THIS TRANSACTION SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH
THE LAWS OF THE STATE OF DELAWARE WITHOUT REGARD TO PRINCIPLES OF CONFLICT OF LAWS THAT WOULD RESULT IN THE APPLICATION OF ANY LAW OTHER THAN THE LAWS OF THE STATE OF NEW YORK. EACH OF THE PARTIES TO THIS AGREEMENT IRREVOCABLY WAIVES, TO THE FULLEST
EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHTS TO TRIAL BY JURY IN ANY LEGAL 

	 	
PROCEEDING ARISING OUT OF OR RELATED TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. Each of the parties to this Agreement (i) irrevocably submits to the personal jurisdiction of
any state or federal court sitting in Wilmington, Delaware, as well as to the jurisdiction of all courts to which an appeal may be taken from such courts, in any suit, action or proceeding relating to or arising out of, under or in connection with
this Agreement, (ii) agrees that all claims in respect of such suit, action or proceeding, whether arising under contract, tort or otherwise, shall be brought, heard and determined exclusively in the Delaware Court of Chancery (provided that,
in the event that subject matter jurisdiction is unavailable in that court, then all such claims shall be brought, heard and determined exclusively in any other state or federal court sitting in Wilmington, Delaware), (iii) agrees that it shall
not attempt to deny or defeat such personal jurisdiction by motion or other request for leave from such court, and (iv) agrees not to bring any action or proceeding relating to or arising out of, under or in connection with this Agreement in
any other court, tribunal, forum or proceeding. Each of the parties to this Agreement waives any defense of inconvenient forum to the maintenance of any action or proceeding brought in accordance with this paragraph. Each of the parties to this
Agreement agrees that service of any process, summons, notice or document by U.S. registered mail to its address set forth herein shall be effective service of process for any action, suit or proceeding brought against it in accordance with this
paragraph, provided that nothing in the foregoing sentence shall affect the right of any party to serve legal process in any other manner permitted by law. 

  

	 	(h)	Remedies. The parties hereto agree and acknowledge that money damages would not be an adequate remedy for any breach of the provisions of this Agreement, that any breach of the provisions of this Agreement shall
cause the other parties irreparable harm, and that any party may in its sole discretion apply to any court of law or equity of competent jurisdiction (without posting any bond or deposit) for specific performance or other injunctive relief in order
to enforce, or prevent any violations of, the provisions of this Agreement. 

  

	 	(i)	Amendment and Waiver. The provisions of this Agreement may be amended or waived at any time only by the written agreement of the Seller and the Company. Any waiver, permit, consent or approval of any kind or
character on the part of any such holders of any provision or condition of this Agreement must be made in writing and shall be effective only to the extent specifically set forth in writing. The failure of any party hereto to enforce at any time any
provision of this Agreement shall not be construed to be a waiver of such provision, nor in any way to affect the validity of this Agreement or any part hereof or the right of any party thereafter to enforce each and every such provision. No waiver
of any breach of this Agreement shall be held to constitute a waiver of any other or subsequent breach. 

  

	 	(j)	Further Assurances. Each of the Company and the Seller shall execute and deliver such additional documents and instruments and shall take such further action as may be necessary or appropriate to effectuate fully
the provisions of this Agreement. 

  

	 	(k)	Mutuality of Drafting. The parties have participated jointly in the negotiation and drafting of this Agreement. In the event an ambiguity or question of intent or interpretation arises, this Agreement shall be
construed as jointly drafted by the parties, and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any provision of this Agreement. 

 

	 	(l)	Each of the Company and the Seller shall bear their own expenses (other than reasonable fees of counsel, which shall be borne by the Company) in connection with the drafting, negotiation, execution and delivery of this
Agreement. 

 IN WITNESS WHEREOF, the parties hereto have executed this Stock Repurchase Agreement as of the date first written
above. 
  

			
	 The Company:
  

Fox Factory Holding Corp.

		
	By:	 	/s/ Larry L. Enterline
	Name: Larry L. Enterline
	Title: CEO

  

			
	 The Seller:
  

Compass Group Diversified Holdings LLC

		
	By:	 	/s/ Ryan J. Faulkingham
	Name: Ryan J. Faulkingham
	Title: CFO

 SCHEDULE A 

To: Stock Repurchase Agreement 
 Dated: March 9, 2016 

The “Repurchase Shares” means 500,000 shares of Common Stock. 

The “Per Share Purchase Price” for each Repurchase Share the lesser of (a) 91.5% of the closing bid price of a share of Common Stock on the
Nasdaq Global Market on the date the Underwriting Agreement is executed, and (b) the lowest price per share set forth in the Underwriting Agreement.

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