Document:

Exhibit

Exhibit 4.2

Description of FLEETCOR Technologies, Inc. Common Stock Registered under Section 12 of the Securities Exchange Act

General

FleetCor Technologies, Inc. (the “Company”) has one class of securities, our common stock, par value $0.001 per share, registered under Section 12 of the Securities Exchange Act of 1934, as amended. Our authorized capital stock consists of 475,000,000 shares of common stock. 

The following description of our common stock is a summary. This summary is subject to the Delaware General Corporate Law (the “DGCL”) and the complete text of the Company’s Amended and Restated Certificate of Incorporation (as subsequently supplemented and amended, our “Charter”) and amended and restated bylaws (our “Bylaws”), which are filed as Exhibits 3.1 and 3.2, respectively, to our Annual Report on Form 10-K. We encourage you to read that law and those documents carefully. 

Common Stock
 
Voting rights. The holders of our common stock are entitled to one vote for each share held of record on all matters submitted to a vote of the stockholders, including the election of directors, and do not have cumulative voting rights. Unless otherwise required by law, if a quorum is present, matters submitted to a vote of our stockholders require the approval of a majority of votes cast by stockholders represented in person or by proxy and entitled to vote on such matter, except that directors are elected by a plurality of votes cast. Accordingly, the holders of a majority of the shares of common stock entitled to vote in any election of directors will be able to elect all of the directors standing for election, if they so choose.

Dividend rights. Holders of common stock will be entitled to receive dividends ratably if, as and when dividends are declared from time to time by our board of directors (our “Board”) out of funds legally available for that purpose subject to any preferential dividend rights of any then outstanding preferred stock. Our ability to pay dividends is limited by covenants in our credit facilities.
 
Other matters. Upon our liquidation, dissolution or winding up, the holders of common stock will be entitled to share ratably in the net assets legally available for distribution to stockholders after the payment of all of our debts and other liabilities and subject to any other distribution rights granted to holders of any outstanding preferred stock. Holders of common stock have no preemptive or conversion rights or other subscription rights, and no redemption or sinking fund provisions are applicable to our common stock. All outstanding shares of common stock are fully paid and non-assessable.
 
Preferred Stock

Our Charter permits our Board to issue up to 25,000,000 shares of preferred stock from time to time in one or more classes or series. The Board also may fix the relative rights and preferences of those shares, including dividend rights, conversion rights, voting rights, redemption rights, terms of sinking funds, liquidation preferences and the number of shares constituting any class or series or the designation of the class or series. Terms selected by our Board in the future could decrease the amount of earnings and assets available for distribution to holders of common stock or adversely affect the rights and powers, including voting rights, of the holders of common stock without any further vote or action by the stockholders. As a result, the rights of holders of our common stock will be subject to, and may be adversely affected by, the rights of the holders of any preferred stock that may be issued by us in the future, which could have the effect of decreasing the market price of our common stock.
 
Anti-Takeover Effects of Provisions of Our Charter and Bylaws and Delaware Law

Exhibit 4.2

The provisions of the DGCL and our Charter and Bylaws could have the effect of discouraging others from attempting an unsolicited offer to acquire our company. Such provisions may also have the effect of preventing changes in our management. It is possible that these provisions could make it more difficult to accomplish transactions that stockholders may otherwise deem to be in their best interests.
     
Election and removal of directors. Until the 2022 annual meeting of stockholders, our Board is divided into three classes. Beginning with the directors elected at the 2020 annual meeting of stockholders, directors are elected for a one-year term. Our directors may be removed only by the affirmative vote of at least a majority of the voting power of our then outstanding common stock, voting together as a single class. Directors elected prior to the annual meeting of the stockholders held in 2020 and directors elected to fill a vacancy in the board and to carry out the unexpired term of his predecessor can only be removed for cause. This system of electing and removing directors generally makes it more difficult for stockholders to replace a majority of our directors.
 
Authorized but unissued shares. The authorized but unissued shares of our common stock and our preferred stock will be available for future issuance without any further vote or action by our stockholders. These additional shares may be utilized for a variety of corporate purposes, including future public offerings to raise additional capital, corporate acquisitions and employee benefit plans. The existence of authorized but unissued shares of our common stock and our preferred stock could render more difficult or discourage an attempt to obtain control over us by means of a proxy contest, tender offer, merger or otherwise.
 
Stockholder action; advance notification of stockholder nominations and proposals. Our Charter and Bylaws require that any action required or permitted to be taken by our stockholders must be effected at a duly called annual or special meeting of stockholders and may not be effected by a consent in writing. Our Charter also requires that special meetings of stockholders be called only by a majority of our Board. In addition, our Bylaws provide that candidates for director may be nominated and other business brought before an annual meeting only by the Board or by a stockholder who gives written notice to us, complying with certain requirements as to procedure and form set forth in our Bylaws, no later than 90 days prior to nor earlier than 120 days prior to the first anniversary of the last annual meeting of stockholders. These provisions may have the effect of deterring unsolicited offers to acquire our company or delaying changes in control of our management, which could depress the market price of our common stock.
 
Amendment of certain provisions in our organizational documents. With certain exceptions, the Board may amend, alter, change or repeal any provision of the Charter and the Bylaws. The Bylaws may also be adopted, amended, altered or repealed by a majority of the voting power of all of then then outstanding shares of the capital stock entitled to vote generally in the election of directors, voting as a class. 
 
No cumulative voting. The DGCL provides that stockholders are not entitled to the right to cumulate votes in the election of directors unless our Charter provides otherwise. Our Charter expressly prohibits cumulative voting.
 
Delaware anti-takeover law. Our Charter provides that Section 203 of the DGCL, an anti-takeover law, applies to us. In general, Section 203 prohibits a publicly held Delaware corporation from engaging in a “business combination” with an “interested stockholder” for a period of three years following the date the person became an interested stockholder, unless the “business combination” or the transaction in which the person became an interested stockholder is approved in a prescribed manner. Generally, a “business combination” includes a merger, asset or stock sale, or other transaction resulting in a financial benefit to the interested stockholder. Generally, an “interested stockholder” is a person who, together with affiliates and associates, owns or, within three years prior to the determination of interested stockholder status, did own, 15% or more of a corporation’s voting stock.

Registration Rights

Exhibit 4.2

Pursuant to the terms of a sixth amended and restated registration rights agreement, as amended, certain holders of our common stock are entitled to rights with respect to the registration of their shares (to the extent such rights have not expired) under the Securities Act, as described below.
 
Demand registration rights. At the written request of certain stockholders, we must give notice to all holders of our common stock with registration rights, who would have 30 days to request inclusion in the offering, file a registration statement and use our best efforts to register all shares timely requested to be registered. Certain stockholders have two such demand registration rights and certain other stockholders have one such demand registration right. We are generally not obligated to effect a registration during the 120-day period subsequent to our filing a registration statement pursuant to these demand registration rights. We may postpone the filing of a registration statement for up to 90 days twice in a 12-month period, but not more than 120 consecutive days, if we have plans to engage in a registered public offering and our Board determines in good faith that such offering would be adversely affected by the requested registration.
 
Piggyback registration rights. If we register any of our securities for public sale, we must give notice to all holders of our common stock with registration rights, who would have 20 days to request inclusion in the offering, and use our best efforts to cause to be registered shares held by our stockholders with registration rights that request to include their shares in the registration statement. However, this right does not apply to a registration relating to any of our employee benefit plans or a corporate reorganization. The managing underwriter of any underwritten public offering will have the right to limit, due to marketing reasons, the number of shares registered by these holders.
 
Form S-3 registration rights. The holders of registration rights can request that we register all or a portion of their shares on Form S-3 if we are eligible to file a registration statement on Form S-3, upon which request we must give notice to all holders of our common stock with registration rights, who would have 20 days to request inclusion in the offering. We are required to file no more than one registration statement on Form S-3 upon exercise of these rights per six-month period and we are not required to honor registration requests if the aggregate market value of securities registered would be less than $10 million.
 
Registration expenses. We will pay all expenses incurred in connection with each of the registrations described above, except for underwriters’ discounts and selling commissions. In addition, we will pay the reasonable fees and disbursements of one counsel for the stockholders participating in such registration.
 
Indemnification. We have agreed, subject to certain exceptions, to indemnify against liabilities resulting from the offerings described above, each selling stockholder that is exercising its registration rights. In addition, we have agreed that, in order to provide for just and equitable contribution to joint liability, if indemnification is 
not available to such parties, FleetCor and such parties will each contribute to any liability based on the proportion that the price of the shares sold by them relates to the aggregate offering price, subject to certain exceptions.
 
Expiration of registration rights. The registration rights described above will terminate with respect to a particular stockholder to the extent the shares held by and issuable to such holder may be sold without registration under the Securities Act in the manner and quantity proposed to be sold.
 
Transfer Agent and Registrar

The transfer agent and registrar for our common stock is American Stock Transfer & Trust Company, LLC.

New York Stock Exchange Listing

Our common stock is listed on the New York Stock Exchange under the symbol “FLT.”Exhibit

EXECUTION VERSION

SEVENTH AMENDMENT TO CREDIT AGREEMENT
THIS SEVENTH AMENDMENT TO CREDIT AGREEMENT (this “Amendment”) dated as of November 14, 2019 (the “Seventh Amendment Effective Date”) is entered into among FLEETCOR TECHNOLOGIES OPERATING COMPANY, LLC, a Louisiana limited liability company (the “Company”), FLEETCOR TECHNOLOGIES, INC., a Delaware corporation (the “Parent”), the Designated Borrowers party hereto (including FleetCor Luxembourg Holding2, a société à responsabilité limitée incorporated under the laws of the Grand-Duchy of Luxembourg, having its registered office at 5, rue Guillaume Kroll, L-1882 Luxembourg and registered with the Registre de Commerce et des Sociétés, Luxembourg under number B 121.980), Cambridge Mercantile Corp.  (U.S.A.), a Delaware corporation (the “Additional Borrower”), the other Guarantors party hereto, and Bank of America, N.A., on its own behalf in its capacity as the Administrative Agent (in such capacity, the “Administrative Agent”) and on behalf of each Term B-3 Lender that delivers to the Administrative Agent on or prior to the Seventh Amendment Effective Date a consent to this Amendment in the form separately provided by the Administrative Agent to each Term B-3 Lender (each, a “Term B-3 Lender Consent to Amendment”; each Term B-3 Lender that delivers a Term B-3 Lender Consent to Amendment to the Administrative Agent on or prior to the Seventh Amendment Effective Date being referred to herein as a “Continuing Term B-3 Lender”).  Capitalized terms used but not otherwise defined herein shall have the meanings given to such terms in the Credit Agreement (as defined below), as amended hereby.
RECITALS
WHEREAS, the Company, the Parent, the Designated Borrowers party thereto, the Additional Borrower, the Lenders from time to time party thereto, and Bank of America, N.A., as the Administrative Agent, the L/C Issuer and the Swing Line Lender, are parties to that certain Credit Agreement, dated as of October 24, 2014 (as amended, modified, supplemented, increased or extended from time to time, the “Credit Agreement”);
WHEREAS, the Company has requested an amendment to the Applicable Rate with respect to the Term B-3 Loan and certain other amendments to the Credit Agreement in connection therewith, on the terms and subject to the conditions set forth herein; and 
WHEREAS, each Continuing Term B-3 Lender has agreed to the amendment to the Applicable Rate with respect to the Term B-3 Loan and certain other amendments in connection therewith, on the terms and subject to the conditions set forth herein.
NOW, THEREFORE, in consideration of the premises and the mutual covenants contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Continuing Term B-3 Lenders and the parties hereto agree as follows:
1.    Amendments.  The Credit Agreement is hereby amended as follows:
(a)    The following definition is added to Section 1.01 of the Credit Agreement in the appropriate alphabetical order:
“Seventh Amendment Effective Date” means November 14, 2019.
(b)    Clause (b) of the definition of “Applicable Rate” in Section 1.01 of the Credit Agreement is amended and restated in its entirety to read as follows:

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(b) with respect to the Term B-3 Loan, 1.75% per annum in the case of Eurocurrency Rate Loans and 0.75% per annum in the case of Base Rate Loans, and
(c)    The reference to “Third Amendment Effective Date” in Section 2.05(a)(iii) of the Credit Agreement is amended to read “Seventh Amendment Effective Date”. 
2.    Conditions Precedent.  This Amendment shall be effective upon satisfaction of the following conditions precedent:
(a)Receipt by the Administrative Agent of counterparts of this Amendment duly executed by (i) a Responsible Officer of the Company, the Designated Borrowers, the Additional Borrower and the Guarantors, and (ii) the Administrative Agent, on its own behalf and on behalf of each Continuing Term B-3 Lender.
(b)The Company shall have paid all accrued and unpaid interest on the Term B-3 Loan to the Seventh Amendment Effective Date.
(c)Receipt by the Administrative Agent and each Continuing Term B-3 Lender of all documentation and other information that the Administrative Agent or such Continuing Term B-3 Lender has reasonably requested in writing that the Administrative Agent or such Continuing Term B-3 Lender has reasonably determined is required by regulatory authorities under applicable “know your customer” and anti-money laundering rules and regulations, including without limitation the Act.
(d)With respect to any Borrower that qualifies as a “legal entity customer” under the Beneficial Ownership Regulation, delivery by such Borrower, to the Administrative Agent and each Continuing Term B-3 Lender that so requests, of a Beneficial Ownership Certification in relation to such Borrower.
(e)Receipt by the Administrative Agent of any fees owing to BofA Securities (or any of its designated Affiliates), the Administrative Agent and the Continuing Term B-3 Lenders that are required to be paid on or before the Seventh Amendment Effective Date.
(f)Unless waived by the Administrative Agent, the Company shall have paid all fees, charges and disbursements of counsel to the Administrative Agent (directly to such counsel, if so requested by the Administrative Agent) to the extent invoiced prior to or on the Seventh Amendment Effective Date, plus such additional amounts of such fees, charges and disbursements as shall constitute its reasonable estimate of such fees, charges and disbursements incurred or to be incurred by it through the closing proceedings (provided, that, such estimate shall not thereafter preclude a final settling of accounts between the Company and the Administrative Agent).
For purposes of determining compliance with the conditions specified in this Section 2, each Continuing Term B-3 Lender shall be deemed to have consented to, approved or accepted or to be satisfied with, each document or other matter required hereunder to be consented to or approved by or acceptable or satisfactory to a Continuing Term B-3 Lender unless the Administrative Agent shall have received notice from such Continuing Term B-3 Lender prior to the Seventh Amendment Effective Date specifying its objections.

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3.    Miscellaneous.
(a)    The Credit Agreement and the obligations of the Loan Parties thereunder and under the other Loan Documents are hereby ratified and confirmed and shall remain in full force and effect according to their terms, as amended hereby.
(b)    Each Loan Party (i) acknowledges and consents to all of the terms and conditions of this Amendment and the transactions contemplated hereby, (ii) affirms all of its obligations under the Loan Documents to which it is a party, and (iii) agrees that this Amendment and all documents executed in connection herewith do not operate to reduce or discharge its obligations under the Loan Documents to which it is a party.  Each Loan Party hereby acknowledges that, as of the Seventh Amendment Effective Date, the security interests and Liens granted to the Administrative Agent for the benefit of the holders of the Obligations under the Collateral Documents to secure the Obligations are in full force and effect, are properly perfected, and are enforceable in accordance with the terms of the Security Agreement and the other Loan Documents.
(c)    Each Loan Party hereby represents and warrants as follows:
(i)    The execution, delivery and performance by such Loan Party of this Amendment have been duly authorized by all necessary corporate or other organizational action, and do not: (A) contravene the terms of any of such Loan Party’s Organization Documents; (B) conflict with or result in any breach or contravention of, or the creation of any Lien under, or require any payment to be made under (1) any material Contractual Obligation to which such Loan Party is a party or affecting such Loan Party or the properties of such Loan Party or any of its Subsidiaries, or (2) any order, injunction, writ or decree of any Governmental Authority or any arbitral award to which such Loan Party or its property is subject; or (C) violate any Law.
(ii)    This Amendment has been duly executed and delivered by such Loan Party and constitutes such Loan Party’s legal, valid and binding obligation, enforceable in accordance with its terms, subject to laws generally affecting creditors’ rights, to statutes of limitations and to principles of equity.
(iii)    No approval, consent, exemption, authorization, or other action by, or notice to, or filing with, any Governmental Authority or any other Person is necessary or required in connection with the execution, delivery or performance by, or enforcement against, such Loan Party of this Amendment or the Credit Agreement as amended hereby.
(iv)    After giving effect to this Amendment, the representations and warranties of such Loan Party set forth in Article VI of the Credit Agreement and in each other Loan Document are true and correct in all material respects (and in all respects if any such representation or warranty is already qualified by materiality) on and as of the Seventh Amendment Effective Date with the same effect as if made on and as of the Seventh Amendment Effective Date, except to the extent such representations and warranties specifically refer to an earlier date, in which case they were true and correct in all material respects (and in all respects if any such representation or warranty is already qualified by materiality) as of such earlier date, and except that for purposes of this Section 3(c)(iv), the representations and warranties contained in subsections (a) and (b) of Section 6.05 of the Credit Agreement shall be deemed to refer to the most recent financial statements furnished pursuant to subsections (a) and (b), respectively, of Section 7.01 of the Credit Agreement. 

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(v)    After giving effect to this Amendment, no Default has occurred and is continuing or would result from the transactions contemplated by this Amendment. 
(vi)    The Persons signing this Amendment as Guarantors include all of the Subsidiaries existing as of the Seventh Amendment Effective Date that are required to become Guarantors pursuant to the Credit Agreement on or prior to the Seventh Amendment Effective Date.
(d)    This Amendment may be executed in any number of counterparts and by the various parties hereto in separate counterparts, each of which when so executed and delivered shall be an original, but all of which shall constitute one and the same instrument.  Delivery of an executed counterpart of this Amendment by telecopy or in any other electronic format (such as .pdf format) shall be effective as delivery of a manually executed original counterpart of this Amendment.
(e)    This Amendment is a Loan Document for all purposes.  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 any Lender or the Administrative Agent under any of the Loan Documents, nor, except as expressly provided herein, constitute a waiver or amendment of any provision of any of the Loan Documents.  Upon the effectiveness hereof, all references to the Credit Agreement set forth in any other agreement or instrument shall, unless otherwise specifically provided, be references to the Credit Agreement as amended hereby.
(f)    THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK (INCLUDING SECTION 5-1401 AND SECTION 5-1402 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK) WITHOUT REGARD TO CONFLICTS OF LAW PRINCIPLES THAT WOULD REQUIRE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION.  THIS AMENDMENT SHALL BE FURTHER SUBJECT TO THE TERMS AND CONDITIONS OF SECTIONS 11.14 AND 11.15 OF THE CREDIT AGREEMENT, THE TERMS OF WHICH ARE INCORPORATED HEREIN BY REFERENCE AS IF FULLY SET FORTH HEREIN. 
[remainder of page intentionally left blank]

IN WITNESS WHEREOF, each of the parties hereto has caused a counterpart of this Amendment to be duly executed and delivered by a duly authorized officer as of the date first above written.
COMPANY:            FLEETCOR TECHNOLOGIES OPERATING COMPANY, LLC,
a Louisiana limited liability company
By: /s/ Steve Pisciotta   
Name:    Steve Pisciotta
Title:    Treasurer
PARENT:            FLEETCOR TECHNOLOGIES, INC.,
a Delaware corporation
By: /s/ Steve Pisciotta   
Name:    Steve Pisciotta
Title:    Treasurer
DESIGNATED
BORROWERS:            FLEETCOR UK ACQUISITION LIMITED,
a private limited company registered in England and Wales
By: /s/ Steve Pisciotta       
Name:    Steve Pisciotta
Title:    Director
ALLSTAR BUSINESS SOLUTIONS LIMITED,
a private limited company registered in England and Wales
By: /s/ Steve Pisciotta       
Name:    Steve Pisciotta
Title:     Director
BUSINESS FUEL CARDS PTY LTD (formerly FleetCor Technologies Australia Pty Ltd),
a proprietary limited company registered in Australia, in accordance with section 127 of the Corporations Act 2001 (Cth)
ACN 161 721 106
By: /r/ Eric Dey        
Name:    Eric Dey
Title:    Director
By: /s/ Steve Pisciotta           
Name:    Steve Pisciotta
Title:    Director
FLEETCOR TECHNOLOGIES NEW ZEALAND LIMITED,
a company registered in New Zealand
By: /s/ Steven Joseph Pisciotta               
Name:    Steven Joseph Pisciotta
Title:     Director
FLEETCOR LUXEMBOURG HOLDING2,
a société à responsabilité limitée incorporated under the laws of Luxembourg
By: /s/ Steve Pisciotta       
Name:    Steve Pisciotta
Title:    Type A Manager
ADDITIONAL
BORROWER:            CAMBRIDGE MERCANTILE CORP. (U.S.A.),
a Delaware corporation
By:/s/ Gary Krikler
Name:    Gary Krikler
Title:    Chief Financial Officer and Treasurer
GUARANTORS:        CFN HOLDING CO.,
a Delaware corporation
By: /s/ Steve Pisciotta           
Name:    Steve Pisciotta
Title:    Treasurer
CLC GROUP, INC.,
a Delaware corporation
By: /s/ Steve Pisciotta               
Name:    Steve Pisciotta
Title:    Treasurer
CORPORATE LODGING CONSULTANTS, INC.,
a Kansas corporation
By: /s/ Steve Pisciotta           
Name:    Steve Pisciotta
Title:    Treasurer
CREW TRANSPORTATION SPECIALISTS, INC.,
a Kansas corporation
By: /s/ Steve Pisciotta       
Name:    Steve Pisciotta
Title:    Treasurer
MANNATEC, INC.,
a Georgia corporation
By: /s/ Steve Pisciotta       
Name:    Steve Pisciotta
Title:    Treasurer
FLEETCOR FUEL CARDS LLC,
a Delaware limited liability company
By: /s/ Steve Pisciotta           
Name:    Steve Pisciotta
Title:    Treasurer
PACIFIC PRIDE SERVICES, LLC,
a Delaware limited liability company
By: /s/ Steve Pisciotta           
Name:    Steve Pisciotta
Title:    Treasurer
NVOICEPAY, INC.,
an Oregon corporation
By: /s/ Steve Pisciotta           
Name:    Steve Pisciotta
Title:    Treasurer
FCHC HOLDING COMPANY, LLC,
a Delaware limited liability company
By:/s/John Coughlin
Name:    John Coughlin
Title:    President
COMDATA INC.,
a Delaware corporation
By:/s/ Robert E. Kribbs    
Name:    Robert E. Kribbs
Title:    Vice President
COMDATA TN, INC.,
a Tennessee corporation
By: /s/ Robert E. Kribbs            
Name:    Robert E. Kribbs
Title:    Vice President
COMDATA NETWORK, INC. OF CALIFORNIA,
a California corporation
By: /s/ Robert E. Kribbs        
Name:    Robert E. Kribbs
Title:    Vice President
CAMBRIDGE MERCANTILE CORP. (NEVADA),
a Delaware corporation
By:/s/ Michael Rockouski
Name:    Michael Rockouski
Title:    President
ADMINISTRATIVE
AGENT:            BANK OF AMERICA, N.A.,
on its own behalf in its capacity as Administrative Agent and on behalf of each Continuing Term B-3 Lender
By:/s/ Felicia Brinson    
Name:    Felicia Brinson
Title:    Assistant Vice President

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