Document:

exv10w12

Exhibit 10.12

CONTRIBUTION AGREEMENT

     This Contribution Agreement (this “Agreement”), dated as of October 25, 2010, is made and
entered into by and between JWC Acquisition Corp. (the “Company”) and JWC Acquisition, LLC,
a Delaware limited liability company, (the “Sponsor”).

     WHEREAS, pursuant to that certain Securities Purchase Agreement, effective as of August 5, 2010, by and between the Company and the Sponsor (the “Securities Purchase Agreement”), the Sponsor
purchased 2,464,286 shares of common stock of the Company, par value $0.0001 per share (“Common
Stock”);

     WHEREAS, pursuant to the Company’s registration statement filed with the Securities and
Exchange Commission on Form S-1, No. 333-168798 (the “Registration Statement”), the Company is
contemplating conducting an initial public offering of units, each unit consisting of one share of
Common Stock and one warrant, and decreasing the contemplated size of such initial public offering
of units from $150,000,000 to $125,000,000; and

     WHEREAS, the Sponsor wishes to return to the Company for cancellation 124,170 shares of Common
Stock (in an amount pro rata to the reduction of such initial public offering), such that the
Sponsor, John K. Haley and Sonny King will in the aggregate beneficially own 14.0% of the outstanding shares of Common Stock following the
consummation of such initial public offering of units.

     NOW, THEREFORE, in consideration of the premises, representations, warranties and the mutual
covenants contained in this Agreement, and for other good and valuable consideration, the receipt,
sufficiency and adequacy of which are hereby acknowledged, the parties hereto, intending to be
legally bound, hereby agree as follows:

     Section 1 Assignment of Shares. The Sponsor hereby assigns and surrenders to the
Company for cancellation 124,170 shares of Common Stock. After giving effect to the cancellation
of such shares of Common Stock, the Sponsor acknowledges that it holds 2,340,116 shares of Common
Stock.

     Section 2 No Conflicts. Each party represents and warrants that neither the
execution and delivery of this Agreement by such party, nor the consummation or performance by such
party of any of transactions contemplated hereby, will with or without notice or lapse of time,
constitute, create or result in a breach or violation of, default under, loss of benefit or right
under or acceleration of performance of any obligation required under any agreement to which it is
a party.

     Section 3 Miscellaneous. This Agreement, together with the certificates, documents,
instruments and writings that are delivered pursuant hereto, constitutes the entire agreement and

 

 

understanding of the parties hereto in respect of its subject matter. This Agreement may be
executed in two or more counterparts, each of which will be deemed an original but all of which
together will constitute one and the same instrument. This Agreement may not be amended, modified
or waived as to any particular provision, except by a written instrument executed by all parties
hereto. Except as otherwise provided herein, no party hereto may assign either this Agreement or
any of its rights, interests, or obligations hereunder without the prior written consent of the
other party.

[SIGNATURE PAGE FOLLOWS]

 

 

     IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of
the date first above written.

	 	 	 	 	 	 	 

	 	 	JWC ACQUISITION CORP.
	 
	 	 	 	 	 	 
	 	 	By:	 	/s/ Adam L. Suttin
	 	 	 	 	 
	 	 	Name:	 	Adam L. Suttin
	 	 	Title:	 	President
	 
	 	 	 	 	 	 
	 	 	SPONSOR:
JWC ACQUISITION, LLC
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Adam L. Suttin
	 

	 	 	 	 
	 

	 	Name:
	 	Adam L. Suttin
	 

	 	Title:
	 	Vice President

Signature Page to Sponsor Contribution Agreementexv10w13

Exhibit 10.13

SECURITIES ASSIGNMENT AGREEMENT

     This Securities Assignment Agreement (this “Assignment”), dated as of October 25, 2010, is
made and entered into by and among JWC Acquisition, LLC, a Delaware limited liability company (the
“Seller”) and the parties identified on the signature page hereto (each a “Buyer” and collectively,
the “Buyers”).

     WHEREAS, on the terms and subject to the conditions set forth in this Assignment, the Seller
wishes to assign an aggregate of 23,400 shares (the “Shares”) of common stock (“Common Stock”) of
the JWC Acquisition Corp. (the “Company”) to the Buyers and the Buyers wish to purchase the Shares
from the Seller.

     NOW, THEREFORE, in consideration of the premises, representations, warranties and the mutual
covenants contained in this Assignment, and for other good and valuable consideration, the receipt,
sufficiency and adequacy of which are hereby acknowledged, the parties hereto, intending to be
legally bound, hereby agree as follows:

     Section 1 Assignment of Shares. Seller hereby assigns 11,700 Shares to each Buyer, of
which 1,607 Shares shall be subject to forfeiture by each such Buyer to the extent the
underwriters’ over-allotment option (as described in the Company’s registration statement on Form
S-1, as amended (File Number 333-168798) (the “Registration Statement”), under the Securities Act
of 1933, as amended (the “Act”), relating to an underwritten public offering by the Company (the
“Offering”)) is not exercised in full. In addition, a portion of the Shares held by each Buyer, in
an amount equal to 0.0125% of the Company’s issued and outstanding shares immediately after the
Offering (the “Buyer Earnout Shares”), shall be subject to forfeiture by each Buyer in the event
that the last sales price of the Company’s stock does not equal or exceed $12.00 per share (as
adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for
any 20 trading days within any 30-trading day period within 24 months following the closing of the
Company’s initial business combination (as described in the Registration Statement). The Buyers
have each paid to the Seller an aggregate amount of $118.70 (the “Purchase Price”), in
consideration of the assignment of the Shares.

     Section 2 No Conflicts. Each party represents and warrants that neither the execution
and delivery of this Assignment by such, nor the consummation or performance by such party of any
of transactions contemplated hereby, will with or without notice or lapse of time, constitute,
create or result in a breach or violation of, default under, loss of benefit or right under or
acceleration of performance of any obligation required under any agreement to which it is a party.

     Section 3 Investment Representations. Each Buyer represents and warrants, with
respect to himself only, as follows: Such Buyer hereby acknowledges that an investment in the
Shares involves certain significant risks. Such Buyer has no need for liquidity in its investment
in the Shares for the foreseeable future and is able to bear the risk of that investment for an
indefinite period. Such Buyer acknowledges and hereby agrees that the Shares will not be

 

 

transferable under any circumstances unless registered by the Company in accordance with
federal and state securities laws or sold in compliance with an exemption under such laws and
such transfer complies with all applicable lock-up restrictions on such Buyer (as described in the
Registration Statement). Such Buyer further understands that any certificates evidencing the
Shares bear a legend referring to the foregoing transfer restrictions. Such Buyer also
acknowledges and hereby agrees that such Buyer shall return to the Company for cancellation, at no
cost, (i) 1,526 Shares held by each such Buyer to the extent the underwriters’ over-allotment (as
described in the Registration Statement) is not exercised in full and (ii) its Buyer Earnout Shares
in the event that the last sales price of the Company’s stock does not equal or exceed $12.00 per
share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the
like) for any 20 trading days within any 30-trading day period within 24 months following the
closing of the Company’s initial business combination (as described in the Registration Statement).
The Shares are being acquired solely for such Buyer’s own account, for investment purposes only,
and are not being purchased with a view to or for the resale, distribution, subdivision or
fractionalization thereof; and such Buyer has no present plans to enter into any contract,
undertaking, agreement or arrangement for such resale, distribution, subdivision or
fractionalization. Such Buyer has been given the opportunity to (i) ask questions of and receive
answers from the Seller and the Company concerning the terms and conditions of the Shares, and the
business and financial condition of the Company and (ii) obtain any additional information that the
Seller possesses or can acquire without unreasonable effort or expense that is necessary to assist
such Buyer in evaluating the advisability of the purchase of the Shares and an investment in the
Company. Such Buyer is not relying on any oral representation made by any person as to the Company
or its operations, financial condition or prospects. Such Buyer is an “accredited investor” as
defined in Regulation D promulgated by the Securities and Exchange Commission under the Act. In
the event such Buyer does not join the Board of Directors of the Company upon the consummation of
the Offering (whether and either at the election of the Company or such Buyer for any reason), then
the Buyer shall promptly return the Shares to the Company.

     Section 4 Miscellaneous. This Assignment, together with the certificates, documents,
instruments and writings that are delivered pursuant hereto, constitutes the entire agreement and
understanding of the parties hereto in respect of its subject matter. This Assignment may be
executed in two or more counterparts, each of which will be deemed an original but all of which
together will constitute one and the same instrument. This Assignment may not be amended, modified
or waived as to any particular provision, except by a written instrument executed by all parties
hereto. Except as otherwise provided herein, no party hereto may assign either this Assignment or
any of its rights, interests, or obligations hereunder without the prior written approval of the
other party.

[SIGNATURE PAGE FOLLOWS]

2

 

     IN WITNESS WHEREOF, the undersigned have executed this Assignment to be effective as of the
date first set forth above.

	 	 	 	 	 	 	 

	 	 	JWC ACQUISITION, LLC	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Adam L. Suttin	 	 
	 

	 	 	 	 

Name: Adam L. Suttin
	 	 
	 

	 	 	 	Title: President	 	 
	 
	 	 	 	 	 	 
	 	 	BUYERS:	 	 
	 
	 	 	 	 	 	 
	 	 	/s/ John K. Haley	 	 
	 	 	 	 	 
	 	 	John K. Haley	 	 
	 
	 	 	 	 	 	 
	 	 	/s/ Sonny King	 	 
	 	 	 	 	 
	 	 	Sonny King	 	 

Signature Page to Securities Assignment Agreement

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