Document:

Exhibit 10.45

 

SIXTEENTH
AMENDMENT TO

MASTER TRANSACTION AGREEMENT

 

This Sixteenth Amendment to the Master Transaction
Agreement (this “Amendment”), dated as of September 3, 2009 (the “Amendment
Date”), by and among MXEnergy Inc., a Delaware corporation (the “Counterparty”),
MXEnergy Holdings Inc. (the “Parent”) and certain Subsidiaries
thereof, as guarantors (collectively, the “Guarantors”), and Société
Générale, as hedge provider (the “Hedge Provider”).

 

PRELIMINARY
STATEMENTS

 

Reference is made to each of (i) the Master Transaction Agreement,
dated as of August 1, 2006, as amended by (A) the First Amendment to
Master Transaction Agreement dated as of April 6, 2007, (B) the
Second Amendment to Master Transaction Agreement dated as of December 17,
2007, (C) the Third Amendment to Master Transaction Agreement dated as of May 12,
2008, (D) the Fourth Amendment to Master Transaction Agreement dated as of
July 31, 2008, (E) the Fifth Amendment to Master Transaction
Agreement dated as of September 30, 2008, (F) the Sixth Amendment to
Master Transaction Agreement dated as of November 4, 2008, (G) the
Seventh Amendment to Master Transaction Agreement dated as of November 7,
2008, (H) the Eighth Amendment to Master Transaction Agreement dated as of
November 17, 2008, (I) the Ninth Amendment to Master Transaction
Agreement dated as of March 16, 2009, (J) the Tenth Amendment to the
Master Transaction Agreement dated as of May 15, 2009, (K) the
Eleventh Amendment to the Master Transaction Agreement dated as of May 29,
2009, (L) the Twelfth Amendment to the Master Transaction Agreement dated
as of June 8, 2009,(M) the Thirteenth Amendment to the Master
Transaction Agreement dated as of July 31, 2009, (N) the Fourteenth
Amendment and Waiver to the Master Transaction Agreement dated as of August 14,
2009, (O) the Fifteenth Amendment and Waiver to the Master Transaction
Agreement dated as of August 31, 2009 and (P) this Amendment (the
original Master Transaction Agreement, as amended through this Amendment, being
herein referred to as the “Master Transaction  Agreement”), among the Counterparty, the
Guarantors and the Hedge Provider, (ii) the ISDA Master Agreement (as
defined in the Master Transaction Agreement and amended to date, including by
the Eighth Amendment to the Schedule to the ISDA Master Agreement dated as of
the date hereof), (iii) the Credit Agreement (as defined in the Master
Transaction Agreement and amended to date), and (iv) the Intercreditor
Agreement (as defined in the Master Transaction Agreement and amended to date);

 

The Counterparty and the Guarantors have requested that the Hedge
Provider amend the Master Transaction Agreement; and

 

The Hedge Provider is willing to amend the Master Transaction Agreement
on the terms and conditions set forth herein.

 

1

 

AGREEMENT

 

NOW THEREFORE, in consideration of the premises and
the covenants and agreements contained herein, the parties hereto hereby agree
as follows:

 

Section 1. Definitions. Unless otherwise
specifically provided herein, capitalized terms used but not defined herein
shall have the meanings specified in the Master Transaction Agreement.

 

Section 2. Amendment to Master Transaction
Agreement. The Master Transaction Agreement is hereby amended as follows,
which amendment shall be effective as of the date on which the requirements set
forth in Section 3 of this Amendment are satisfied (the “Amendment
Effective Date”): Section 7.01 of the Master Transaction Agreement is
hereby amended by changing the reference to “September 3, 2009” in each of
clauses (q) and (r) thereof to “September 8, 2009”.

 

Section 3. Conditions to Effectiveness. This
Amendment shall be effective on the date on which the Hedge Provider shall have
received each of the following, in form and substance satisfactory to the Hedge
Provider:

 

(a)           written evidence in form and substance satisfactory to the
Hedge Provider that any and all third party consents or waivers required in
connection with this Amendment have been obtained;

 

(b)           counterparts of this Amendment, duly executed and
delivered by the Counterparty and the Guarantors;

 

(c)           the tenth amendment to the Schedule to the ISDA Master
Agreement has been executed and delivered by the Hedge Provider and the
Counterparty;

 

(d)           written evidence of corporate authority satisfactory to
the Hedge Provider, which may include an opinion of outside counsel, regarding
the authority of Counterparty and all Guarantors to execute and deliver this
Amendment and to fulfill their respective obligations hereunder;

 

Section 4. Representations and Warranties. Each
of the Counterparty, the Parent and the Guarantors (each a “Transaction
Party” and, collectively, the “Transaction  Parties”) hereby jointly and severally
represents and warrants to the Hedge Provider that, as of the Amendment Date
and as of the Amendment Effective Date:

 

(a)           all representations and warranties of such Transaction
Party contained in the Master Transaction Agreement and any other Transaction
Document are true and correct in all material respects with the same effect as
if such representations and warranties had been made on the Amendment Date (it
being understood and agreed that any representation which by its terms is made
as of a specified date shall be required to be true and correct only as of such
specified date);

 

2

 

(b)           except as expressed herein and after giving effect to the
waiver set forth herein, no Specified Event, and no Event of Default or
Termination Event on the part of any Transaction Party, has occurred and is
continuing;

 

(c)           the Counterparty has delivered a copy of this Amendment in
its final form to the Administrative Agent and the Lenders under the Credit
Agreement;

 

(d)           no authorization, approval, consent, waiver or other action
by, and no notice to or filing with, any Governmental Authority or any other
Person is required for the due execution, delivery and performance by any
Transaction Party of this Amendment;

 

(e)           this Amendment has been duly authorized by all necessary
corporate or other organizational action of each Transaction Party and has been
duly executed and delivered by each Transaction Party; and

 

(f)            this
Amendment and the Master Transaction Agreement (as amended by this Amendment)
constitutes a legal, valid and binding obligation of each Transaction Party,
enforceable against each Transaction Party in accordance with its terms.

 

Section 5. Release. As a material part
of the consideration for the Hedge Provider to enter into this Amendment, each
Transaction Party, on behalf of itself and its officers, directors, equity
holders, Affiliates, successors and assigns, hereby releases and forever
discharges the Hedge Provider and their respective predecessors, officers,
managers, directors, shareholders, employees, agents, attorneys,
representatives, subsidiaries, and Affiliates (each a “Hedge Party”) from
any and all claims, expenses, costs, causes of actions or other losses or
liabilities of any nature whatsoever existing on the Amendment Date, including,
without limitation, all claims, expenses, costs, causes of actions or other
losses or liabilities for or in respect of contribution and indemnity, whether
arising at law or in equity, whether liability be direct or indirect,
liquidated or unliquidated, whether absolute or contingent, foreseen or
unforeseen, and whether or not heretofore asserted, which any Transaction Party
may have or claim to have against any Hedge Party under, arising out of, in
connection with, or in any way related to, this Amendment or any Transaction
Documents. For the avoidance of doubt, the provisions of this clause shall
survive any termination of the Master Transaction Agreement, as amended hereby.

 

Section 6. Consent of Guarantors;
Confirmation of Guarantees and 
Transaction Documents. Each Guarantor hereby consents to the
execution, delivery and performance of this Amendment and hereby confirms and
agrees that, notwithstanding the effectiveness of this Amendment, the Guarantee
contained in Article VIII of the Master Transaction Agreement and the
terms and provisions of each other Transaction Document are, and each of the
same shall continue to be, in full force and effect and arc hereby ratified and
confirmed in all respects.

 

Section 7. Governing Law. This Amendment
shall be governed by, and construed and enforced in accordance with, the
internal laws of the State of New York without regard to conflict of laws
principles.

 

3

 

Section 8. Entire Agreement Transaction
Document. Except to the extent specifically modified and amended by this
Amendment, the Master Transaction Agreement shall remain in full force and
effect and is hereby ratified and confirmed. This Amendment, the Master
Transaction Agreement and the other Transaction Documents constitute the entire
agreement and understanding among the parties and supersede all prior
agreements and understandings, whether written or oral, among the parties
hereto concerning the transactions provided herein and therein. This Amendment
is and shall be deemed to be a Transaction Document in all respects and for all
purposes.

 

Section 9. Execution in Counterparts. This
Amendment may be executed in any number of counterparts and by different
parties hereto in separate counterparts, each of which when so executed shall
be deemed to be an original and all of which taken together shall constitute
one and the same agreement. Delivery of an executed counterpart of a signature page to
this Amendment by facsimile shall be as effective as delivery of a manually
executed counterpart of this Amendment.

 

Section 10. Headings. The headings set
forth in this Amendment are and shall be without substantive meaning or content
of any kind whatsoever and are not a part of the agreement between the parties
hereto.

 

Section 11. Severability. In case any
provision in or obligation under this Amendment shall be invalid, illegal or
unenforceable in any jurisdiction, the validity, legality and enforceability of
the remaining provisions or obligations, or of such provision or obligation in any
other jurisdiction, shall not in any way be affected or impaired thereby.

 

Section 12. Payments; Reimbursement of Legal
Fees; No Novation Fees. Counterparty and the Guarantors shall pay promptly
upon request by the Hedge Provider all legal fees incurred by the Hedge
Provider in connection with this Amendment. The Hedge Provider agrees that,
except as otherwise set forth herein, no additional fees shall be due from the
Counterparty or the Guarantors in respect of the novation of the Hedging
Facility or any similar transaction related to Hedging Facility entered into by
the Counterparty other than amounts representing costs and expenses actually
and reasonably incurred by the Hedge Provider and its outside counsel in
connection therewith and any amount payable in respect of the value of the
Hedging Facility.

 

Section 13. No Novation. The parties
intend that the execution and delivery of this Amendment shall not constitute a
novation of either Master Transaction Agreement or any Hedging Transactions
thereunder.

 

[Remainder of page intentionally left blank]

 

4

 

IN
WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly
executed and delivered by their respective duly authorized officers as of the
Amendment Date.

 

	
   

  	
  BORROWERS:

  
	
   

  	
   

  
	
   

  	
  MXENERGY
  INC.

  
	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/
  CHAITU PARIKH

  
	
   

  	
  Name: 

  	
  Chaitu
  Parikh

  
	
   

  	
  Title: 

  	
  Vice
  President and Chief Financial Officer

  

 

 

	
   

  	
  GUARANTORS:

  
	
   

  	
   

  
	
   

  	
  MXENERGY
  ELECTRIC INC.

  
	
   

  	
  MXENERGY
  HOLDINGS INC.

  
	
   

  	
   

  
	
   

  	
  ONLINE
  CHOICE INC.

  
	
   

  	
  MXENERGY
  GAS CAPITAL HOLDINGS CORP.

  
	
   

  	
  MXENERGY ELECTRIC CAPITAL HOLDINGS CORP.

  
	
   

  	
  MXENERGY GAS CAPITAL CORP.

  
	
   

  	
  MXENERGY ELECTRIC CAPITAL CORP.

  
	
   

  	
  MXENERGY
  CAPITAL HOLDINGS CORP.

  
	
   

  	
  INFOMETER.COM
  INC.

  
	
   

  	
  MXENERGY
  SERVICES INC

  
	
   

  	
  MXENERGY
  CAPITAL CORP.

  

 

 

	
   

  	
  By: 

  	
  /s/
  CHAITU PARIKH

  
	
   

  	
  Name: 

  	
  Chaitu
  Parikh

  
	
   

  	
  Title: 

  	
  Vice
  President and Chief Financial Officer

  

 

 

	
   

  	
  HEDGE
  PROVIDER:

  
	
   

  	
   

  
	
   

  	
  SOCIÉTÉ GÉNÉRALE

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  /s/ Gonzague Bataille

  
	
   

  	
  Name: Gonzague Bataille

  
	
   

  	
  Title: Managing Director

  
	
   

  	
  Head of Commodity
  Markets-The AmericasExhibit 10.52

 

Supplemental agreement, dated as of July 31, 2009, between
Steven Murray and MXenergy Inc., a Delaware corporation.

 

Preliminary statement

 

Certain
capitalized terms used herein have the meanings set forth in section 1 hereof.

 

Murray
and the Company wish to memorialize their understanding with respect to the
amount and timing of and conditions to payment of Murray’s bonuses for fiscal
years 2008 and 2009 and the treatment of his outstanding options.

 

Accordingly,
in consideration of the mutual promises contained herein, the concurrent
execution by Murray of the Assignment and Acceptances and other good and
valuable consideration the sufficiency of which is hereby acknowledged, the
parties hereto agree as follows.

 

Agreement

 

1.                                       Certain defined terms.

 

(a)                                  “Assignment and Acceptances”
means the forms of assignment and acceptance attached hereto as exhibit A.

 

(b)                                 “Company” means
MxEnergy Inc., a Delaware corporation.

 

(c)                                  “Employment Agreement”
means that certain employment agreement between Murray and the Company, dated
as of August     , 2006.

 

(d)                                 “Murray” means
Steven Murray, an individual.

 

(e)                                  “Senior Management Team”
has its customary meaning as used at the Company and includes the top ten
managers employed by the Company and its affiliates.  This team includes, among others, Bob Blake,
Gina Goldberg, Robi Artman-Hodge, Paul Konikowski, Rodger Krakau, Jeffrey
Mayer, Chaitu Parikh and Robert Werner.

 

2.                                       Agreement as to Murray’s bonuses.

 

(a)                                  The amount of the unpaid portion of Murray’s
bonus for the Company’s 2008 fiscal year pursuant to section 4(a) of the
Employment Agreement is $140,788.

 

(b)                                 The amount of Murray’s bonus for the
Company’s 2009 fiscal year pursuant to section 4(a) of the Employment
Agreement will be determined by the Company in its sole discretion subject to
the requirement that it be no less than $400,000.

 

 

(c)                                  Murray will be entitled to receive his
bonus for the Company’s 2008 fiscal year and his bonus for the Company’s 2009
fiscal year no later than the earlier of the following two dates, regardless of
whether Murray is then employed by the Company:

 

(i)                                     the earliest date as of which the Company
is not restricted under its debt agreements from paying such bonuses, and

 

(ii)                                  the earliest date as of which any member
of the Senior Management Team receives his or her bonus for the Company’s 2008
or 2009 fiscal year.

 

(d)                                 Murray acknowledges that the Company has
no obligation to pay Murray any bonus except on the terms expressed in sections
2(a) through 2(d) hereof.

 

3.                                       Agreement as to termination of Murray’s
options.  Murray agrees that all of his options to
purchase shares of common stock of the Company granted to him by the Company
will terminate automatically, with no further act required on his part or on
the part of the Company, concurrently with the termination of all options and
warrants currently outstanding and held by members of the Senior Management
Team.  Murray acknowledges that, upon
such termination, Murray will have no further rights under such options.

 

4.                                       Relationship to Employment
Agreement.  Except as otherwise explicitly set forth
herein, no modification of or amendment to the terms of the Employment
Agreement is intended to be effected hereby.

 

5.                                       The Assignment and Acceptances. 
Murray acknowledges and agrees that he will execute and deliver the Assignment
and Acceptances to the Company concurrently with the execution and delivery to
him by the Company of this agreement and the Company acknowledges and agrees
that it will cause this Agreement to be executed and delivered to Murray on its
behalf concurrently with the execution and delivery by Murray to the Company of
the Assignment and Acceptances.  The
parties hereto agree that the effectiveness of the Assignment and Acceptances
is a condition to the effectiveness of this Agreement and that the
effectiveness of this agreement is a condition to the effectiveness of the Assignment
and Acceptances.

 

 

6.                                       Counterparts. 
This agreement may be executed in counterparts, each of which shall be
deemed to be an original, but all of which together will constitute one and the
same agreement.

 

IN
WITNESS WHEREOF, each of the parties hereto has executed this agreement, in the
case of the Company by its duly authorized officer, as of the day and year
first above written.

 

	
   

  	
  MXenergy Inc.

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Jeffrey A. Mayer

  
	
   

  	
  Name: 

  	
  Jeffrey A. Mayer

  
	
   

  	
  Title:

  	
  President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Murray

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Steven Murray

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/Greg Hill

  
	
   

  	
  Name: 

  	
  Greg Hill

  
	
   

  	
  Title:

  	
  His attorney in
  fact

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