Document:

EX-4.5 Amendment dated September 27, 2005 to Optio

 

Exhibit 4.5

SECOND DEED OF AMENDMENT OF OPTION DEED

THIS DEED is made the 27th day of September, 2005.

			
	BETWEEN:	 	CONSOLIDATED WATER CO. LTD. (formerly CAYMAN
WATER COMPANY LIMITED), a Cayman Islands company
having its registered office at Regatta Office
Park, Windward Three, Fourth Floor, P.O. Box
1114 GT, Grand Cayman B.W.I. (the “Company”)

			
	AND:	 	AMERICAN STOCK TRANSFER & TRUST COMPANY of 40
Wall Street, New York, New York 10005, United
States of America (the “Option Agent”)

RECITALS:-

	(1)	 	By an Option Deed dated as of August 6, 1997 (the “Option Deed”) the Directors of the Company
granted to the holders of its Ordinary and Redeemable Preference Shares at any time before the
Distribution Date options to subscribe for one one-hundredth of a Class B Share for each
Ordinary or Redeemable Preference Share held (as that number may afterwards be adjusted
pursuant to Section 11(b) of the Option Deed) on the terms set out in the Option Deed;
	 
	(2)	 	By a Deed of Amendment of Option Deed dated the 8th day of August 2005 (“the First
Amendment Deed”), the Company and the Option Agent amended the Option Deed as stated therein;
	 
	(3)	 	On 17th August 2005, the Company’s Memorandum of Association was altered by subdividing all
its Ordinary and Redeemable Preference Shares, issued and unissued, and including the Class B
Shares, from a par value of CI$1.00 to a par value of CI$0.50 each;
	 
	(4)	 	The Company wishes to further amend the Option Deed to reflect the subdivision of its shares,
to correct a clerical error in paragraph 2(ii) of the First Amendment Deed and to restate the
amendments made by the First Amendment Deed and this Deed into this Deed;
	 
	(5)	 	Under Section 26 of the Option Deed the Company and the Option Agent are empowered on the
Company’s direction to amend the Option Deed before the Distribution Date without the approval
of the holders of the certificates representing Ordinary Shares and Redeemable Performance
Shares; and
	 
	(6)	 	The Distribution Date has not yet occurred.

NOW THIS DEED WITNESSES as follows:

	1.	 	For the purposes of this Deed:-

	 	(i)	 	capitalized words not otherwise defined in it have the meanings assigned to
them in the Option Deed; and

 

 

	 	(ii)	 	references to Sections and paragraphs are references to Sections and paragraphs
of the Option Deed;

	2.	 	The Company and the Option Agent REVERSE the amendments made by the First Amendment Deed and
now RE-AMEND the Option Deed as follows: -

	 	(i)	 	by deleting the expression “US$37.50” where it appears in:

	 	a.	 	Section 7, paragraph (b); and
	 
	 	b.	 	Exhibit B; and
	 
	 	c.	 	the first paragraph of Exhibit C

	 	 	 	and substituting therefor in each case the expression “US$50.00”;
	 
	 	(ii)	 	by deleting the expression “CI$1.00” wherever it appears and substituting the
expression “CI$0.50”; and
	 
	 	(iii)	 	by deleting the sixth paragraph of Exhibit C and substituting therefor the
following:-
	 
	 	 	 	“For example, at an exercise price of US$50.00 per Option, each Option not owned by
an Acquiring Person (or by certain related parties) following an event set out in
the preceding paragraph would entitle its holder to purchase US$100.00 worth of
Ordinary Shares (or other consideration, as noted above) for US$50.00. Assuming
that the Ordinary Shares had a per share value of US$20.00 at such time, the holder
of each valid Option would be entitled to purchase 5 Ordinary Shares for US$50.00.”

	3.	 	In all other respects the Company and the Option Agent confirm the Option Deed.

IN WITNESS WHEREOF, the parties have caused this Deed to be duly executed and delivered as such as
of the clay and year first above written.

	 	 	 	 	 	 	 	 	 	 	 
	EXECUTED as a deed and delivered on	 	 	)	 	 	CONSOLIDATED WATER CO. LTD.	 	 
	behalf of CONSOLIDATED WATER CO.

	 	 	)	 	 	 	 	 	 	 
	LTD. by Frederick McTaggart, Director

	 	 	)	 	 	 	 	 	 	 
	in the presence of:-

	 	 	)	 	 	 	 	 	 	 
	Brent Santha

	 	 	)	 	 	 	 	 	 	 
	 

	 	 	)	 	 	 	 	 	 	 
	

   /s/ Brent Santha
 

Witness

	 	 	)

)

)	 	 	Per
	 	    /s/ Frederick McTaggart
 

Director
	 	  

 - 2 - 

 

	 	 	 	 	 	 	 	 	 	 	 
	EXECUTED as a deed and delivered on	 	 	)	 	 	AMERICAN STOCK TRANSFER &	 	 
	behalf of AMERICAN STOCK	 	 	)	 	 	TRUST COMPANY	 	 
	TRANSFER & TRUST COMPANY by

	 	 	)	 	 	 	 	 	 	 
	                                        , Vice-President in

	 	 	)	 	 	 	 	 	 	 
	the presence of:-

	 	 	)	 	 	 	 	 	 	 
	 

	 	 	)	 	 	 	 	 	 	 
	 

	 	 	)

)	 	 	Per
	 	   /s/ Herbert J. Lemmer
 

Vice-President
	 	 
	 

Witness

	 	 	)	 	 	 	 	 	 	 

 - 3 -Ex-10.1 Lightyear Agreement

 

Exhibit 10.1

GOLDLEAF FINANCIAL SOLUTIONS, INC.

9020 Overlook Boulevard, Third Floor

Brentwood, Tennessee 37027

October 11, 2006

The Lightyear Fund, L.P.

375 Park Avenue

New York, New York 10152

Dear Sir/Madam:

     Goldleaf Financial Solutions, Inc. (f/k/a Private Business, Inc.) (the “Company”) hereby
agrees that until the date that The Lightyear Fund, L.P. (the “VCOC Investor”), directly or through
one or more conduit subsidiaries, has sold or otherwise disposed of an aggregate number of shares
of the Company’s common stock, par value $0.01 per share (the “Common Stock”) (or other securities
of the Company into which such shares of Common Stock may be converted or for which such shares of
Common Stock may be exchanged), equal to Two Thirds (2/3) of the number of Series A Warrant
Recapitalization Securities (as such term is defined in the Redemption and Recapitalization
Agreement dated as of April 25, 2006 between the Company and Lightyear PBI Holdings, LLC) without
limitation or prejudice of any of the rights provided to the VCOC Investor under the
Securityholders Agreement dated January 20, 2004 between the Investor and the Company, as amended,
the Company shall:

	•	 	Provide the VCOC Investor or its designated representative with:

     (i) the right to visit and inspect any of the offices and properties of the Company and
its subsidiaries and inspect and copy the books and records of the Company and its
subsidiaries, at such times as the VCOC Investor shall reasonably request;

     (ii) as soon as available and in any event within 45 days after the end of each quarter
of each fiscal year of the Company (or 120 days for fiscal year end), consolidated balance
sheets and statements of income and cash flows of the Company and its subsidiaries as of the
end of such period or year then ended, as applicable, prepared in conformity with generally
accepted accounting principles in the United States applied on a consistent basis, except as
otherwise noted therein, and subject to the absence of footnotes and to year end
adjustments, and with respect to each fiscal year end statements together with an auditor’s
report thereon, of a firm of established national reputation.

	•	 	Make appropriate officers and directors of the Company, and its subsidiaries, available
periodically and at such times as reasonably requested by the VCOC Investor for consultation
with the VCOC Investor or its designated representative with respect to

 

 

matters relating to the business and affairs of the Company and its
subsidiaries as long as all such requests go through the office of the Chief
Executive Officer and, in the event the officers or directors of the Company
are required to make themselves so available, the VCOC Investor will reimburse
the Company for all out of pocket expenses related thereto;

	•	 	To the extent consistent with applicable law (and
with respect to events which require public
disclosure, only following the Company’s public
disclosure thereof through applicable securities law
filings or otherwise), inform the VCOC Investor or
its designated representative in advance with respect
to any significant corporate actions, including,
without limitation, extraordinary dividends, mergers,
acquisitions or dispositions of assets, issuances of
significant amounts of debt or equity and material
amendments to the certificate of incorporation or by
laws of the Company or any of its subsidiaries, and
to provide the VCOC Investor or its designated
representative with the right to consult with the
Company and its subsidiaries with respect to such
actions; and

	•	 	Provide the VCOC Investor or its designated
representative with such other rights of consultation
which the VCOC Investor’s counsel may determine to be
reasonably necessary under applicable legal
authorities promulgated after the date hereof to
qualify its investment in the Company as a “venture
capital investment” for purposes of the United States
Department of Labor Regulation published at 29 C.F.R.
Section 2510.3-101(d)(3)(i) (the “Plan Asset
Regulation”).

     The Company agrees to consider, in good faith, the recommendations of the VCOC Investor or its
designated representative in connection with the matters on which it is consulted as described
above, recognizing that the ultimate discretion with respect to all such matters shall be retained
by the Company.

     The VCOC Investor agrees, and will require each designated representative of the VCOC Investor
to agree, to hold in confidence and not use or disclose to any third party (other than its legal
counsel and accountants) any confidential information provided to or learned by such party in
connection with the VCOC Investor’s rights under this letter agreement except as may otherwise be
required by law or legal, judicial or regulatory process, provided that the VCOC Investor takes
reasonable steps to minimize the extent of any such required disclosure.

     In the event the VCOC Investor transfers all or any portion of its investment in the Company
to an affiliated entity (or to a direct or indirect wholly-owned conduit subsidiary of any such
affiliated entity) that is intended to qualify as a venture capital operating company under the
Plan Asset Regulation, such affiliated entity shall be afforded the same rights with respect to the
Company afforded to the VCOC Investor hereunder and shall be treated, for such purposes, as a
third party beneficiary hereunder.

2

 

     This letter agreement and the rights and the duties of the parties hereto shall be governed
by, and construed in accordance with, the laws of the State of New York and may be executed in
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 instrument.

	 	 	 	 	 
	 	GOLDLEAF FINANCIAL SOLUTIONS, INC.

 	 
	 	By:  	/s/ Michael Berman
 	 
	 	 	Name:  	Michael Berman 	 
	 	 	Title:  	Secretary and General Counsel 	 
	 

Agreed and acknowledged as of the

date first above written:

THE LIGHTYEAR FUND, L.P.

	 	 	 
	By:

	 	LIGHTYEAR FUND GP, LLC,
	 

	 	its general partner

	 	 	 	 	 
	 	 	 
	 	By:  	     /s/ Timothy Kacani
 	 
	 	 	Name:  	Timothy Kacani 	 
	 	 	Title:  	Vice President 	 
	 

3

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