Document:

Letter Agreement

 Exhibit 10.3 
  

					
	

	 		 	  
 Sunoco Logistics Partners L.P.

1818 Market Street, Suite 1500
 Philadelphia, PA
19103-3615
 866 248 4344

  
 November 2, 2011 

Michael J. Hennigan 
 President and Chief
Operating Officer 
 Sunoco Partners LLC 

1818 Market Street 
 Philadelphia, PA 19103

 Dear Mike: 
 In recognition of your
valuable contributions as President and Chief Operating Officer of Sunoco Partners LLC (the “Company”), we are restructuring certain benefits to which you will be entitled in the event the Company terminates your employment without
cause prior to your becoming retirement eligible (a “Pre-Retirement Termination”). Our goal is to ensure that with respect to these benefits you receive similar treatment to which you would have been entitled had you otherwise been
eligible to retire from the Company at the time of termination. 
 In particular, upon a Pre-Retirement Termination, you will be entitled to the
following: 
  

	 	-	Restricted Units. Notwithstanding any provision to the contrary in a Restricted Unit Agreement or other similar award agreement between you and the
Company (such agreements, “Restricted Unit Agreements”), any Restricted Units granted to you under the Sunoco Partners LLC Long Term Incentive Plan as of the date of a Pre-Retirement Termination (whether performance vested, time
vested, or otherwise conditioned upon your continued employment) shall not be forfeited, but shall continue to vest and be held by you, and shall be paid out at such time and in such manner as though no Pre-Retirement Termination occurred and you
had continued in the employment of the Company for the applicable restricted period. Except as expressly provided in this letter, all other terms and conditions of your Restricted Unit Agreements, including any performance metrics to be applied in
determining the number of Restricted Units earned thereunder, shall continue to apply and remain in full force and effect. 

  

	 	-	Post Employment Medical Benefits. The Company currently subsidizes medical benefits under its current plan for employees who are at least 55 years of age
and have a minimum of 10 years of service. In the event of a Pre-Retirement Termination, the Company will provide you access to post-employment medical benefits provided under this plan and in lieu of the Company subsidy, you will receive a lump sum
payment equal to the net present value of $150,000 as of the date of the Pre-Retirement Termination. 

 Except as otherwise provided in this letter, the terms and conditions applicable to other compensation and
executive benefits, if any, to which you may be entitled shall remain unchanged. 
 Please acknowledge your agreement and acceptance of the
terms of this letter by countersigning a copy of this letter and returning it to me. 
 Sincerely, 

			
	
		
		 	/s/ Lynn L. Elsenhans
		 	 Lynn L. Elsenhans

Chairman & Chief Executive Officer

 Acknowledged and agreed to 
 this 2nd day of November, 2011 
  

	
	/s/ Michael J. Hennigan
	Michael J. Hennigan
	President & Chief Operating OfficerConsent Agreement

 Exhibit 10.2 
 GSMP V ONSHORE US, LTD. 
 GSMP V OFFSHORE US, LTD. 

GSMP V INSTITUTIONAL US, LTD. 
 200 West Street 
 New York, NY 10282-2198 

August 12, 2011 
 MONEYGRAM
PAYMENT SYSTEMS 
 WORLDWIDE, INC. 
 2828 N. Harwood Street, 15th Floor 
 Dallas, TX 75201 
 DEUTSCHE BANK TRUST COMPANY 
 AMERICAS, as Trustee 

Trust & Securities Services 
 60 Wall
Street, MS2710 
 New York, NY 10005 

DEUTSCHE BANK TRUST COMPANY 
 AMERICAS

 c/o Deutsche Bank National Trust Company 
 Trust & Securities Services 
 25 DeForest Avenue, MS SUMO1-0105 

Summit, NJ 07901 
 Re: 13.25%
Senior Secured Second Lien Notes Due 2018 
 Reference is hereby made to that certain Indenture (the “Base
Indenture”) dated as of March 25, 2008, as supplemented by the First Supplemental Indenture, dated as of August 6, 2009, the Second Supplemental Indenture dated as of June 29, 2010 and the Third Supplemental Indenture dated as of
April 19, 2011 (together with the Base Indenture, the “Indenture”) by and among MoneyGram Payment Systems Worldwide, Inc. as the issuer (the “Company”), the Guarantors listed on the signature pages of the Indenture (the
“Guarantors”) and Deutsche Bank Trust Company Americas, as trustee (the “Trustee”). Capitalized terms used, but not defined, in this consent shall have the meaning defined (including by reference) in the Indenture (as
supplemented by the Fourth Supplemental Indenture, as defined below). 
 GSMP V ONSHORE US, LTD., GSMP V OFFSHORE US, LTD., and
GSMP V INSTITUTIONAL US, LTD. (collectively, the “GS Holders”) hereby represent and warrant to the Company and the Trustee that the GS Holders collectively own at least a majority in the aggregate principal amount of the outstanding 13.25%
Senior Secured Second Lien Notes due 2018 (the “Notes”) voting as a single class issued pursuant to the Indenture. The GS Holders hereby consent to the entry into a fourth supplemental indenture (the “Fourth Supplemental
Indenture”) to the Indenture in substantially the form attached hereto as Annex A. At the request of the Company, the GS Holders, in their capacity as Required Holders under the Note Purchase Agreement and the Indenture, hereby consent to the
changes to the definition of “Highly Rated Investments” contained in the Fourth Supplemental Indenture (and consent to any resulting changes in the Investment Policy relating to Holdco’s and the Holdco Subsidiaries’ investment
portfolio). 

 The execution and delivery of this letter shall not operate as a waiver of any right, power
or remedy of the GS Holders under the Indenture, nor constitute an amendment of any other provision of the Indenture or for any purpose except as expressly set forth herein. 
 The Company hereby represents and warrants as follows: 
 1. The Fourth
Supplemental Indenture, when fully-executed and effective, will constitute the legal, valid and binding obligation of the Company and the Guarantors enforceable in accordance with its terms, subject to the effects of bankruptcy, insolvency,
fraudulent conveyance, reorganization, moratorium and other similar laws relating to or affecting the Company and the Guarantors rights generally, general equitable principles (whether considered in a proceeding in equity or at law) and an implied
covenant of good faith and fair dealing. 
 2. The Company and each Guarantor has all requisite corporate power and authority to
enter into the Fourth Supplemental Indenture and to carry out the transactions contemplated by, and perform its obligations under, the Fourth Supplemental Indenture and the Indenture as amended by the Fourth Supplemental Indenture. 

3. After giving effect to the Fourth Supplemental Indenture, the Indenture, as amended, does not impair the validity, effectiveness or
priority of the Liens granted pursuant to the Security Documents, and such Liens continue unimpaired with the same priority to secure repayment of all Obligations with respect to the Notes, whether heretofore or hereafter incurred. The position of
the GS Holders with respect to such Liens, the Collateral in which a security interest was granted pursuant to the Security Documents and the ability of the Trustee to realize upon such Liens pursuant to the terms of the Security Documents have not
been adversely affected in any material respect by the amendments to the Indenture effected pursuant to the Fourth Supplemental Indenture or by the execution, delivery, performance or effectiveness of the Fourth Supplemental Indenture. The Company
and each Guarantor confirm that the Indenture and each Security Document to which it is a party is, and shall continue to be, in full force and effect, and the same are hereby ratified, approved and confirmed in all respects, except as the Indenture
may be amended by the Fourth Supplemental Indenture. 
 4. As of the date hereof (and giving effect to the Fourth Supplemental
Indenture), no event has occurred and is continuing or will result from the consummation of the transactions contemplated by the Fourth Supplemental Indenture or the Indenture as amended by the Fourth Supplemental Indenture that would constitute an
Event of Default or a Default. 
 The Company and each Guarantor reaffirm as of the date hereof their respective covenants and
agreements contained in the Indenture and each Security Documents to which it is a party, including, in each case, as such covenants and agreements may be modified by the Fourth Supplemental Indenture. 

THIS LETTER SHALL BE GOVERNED BY AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 

  
 2 

 [SIGNATURE PAGE FOLLOWS] 

  
 3 

							
	HOLDERS:	 		 	GSMP V ONSHORE US, LTD.
				
		 		 	By:	 	 /s/John E. Bowman

		 		 	Name:	 	 John E. Bowman

		 		 	Title:	 	 Vice President

			
		 		 	GSMP V OFFSHORE US, LTD.
				
		 		 	By:	 	 /s/John E. Bowman

		 		 	Name:	 	 John E. Bowman

		 		 	Title:	 	 Vice President

			
		 		 	GSMP V INSTITUTIONAL US, LTD.
				
		 		 	By:	 	 /s/John E. Bowman

		 		 	Name:	 	 John E. Bowman

		 		 	Title:	 	 Vice President

 Agreed and acknowledged as of the first date written above: 
 MONEYGRAM PAYMENT SYSTEMS WORLDWIDE, INC. 
  

			
	 By:
	 	 /s/James E. Shields

	 Name:
	 	 James E. Shields

	 Title:
	 	 Executive Vice President and CFO

 [Signature Page to Holder Consent] 

 
			
	MONEYGRAM INTERNATIONAL, INC.
	MONEYGRAM PAYMENT SYSTEMS, INC.
	MONEYGRAM OF NEW YORK, LLC
	PROPERTYBRIDGE, INC.
		
	 By:
	 	 /s/James E. Shields

	 Name:
	 	 James E. Shields

	 Title:
	 	 Executive Vice President and CFO

 [Signature Page to Holder Consent] 

			
	 Copies to:
	 	F. William Reindel
		 	Fried, Frank, Harris, Shriver & Jacobson LLP
		 	One New York Plaza
		 	New York, NY 10004
		
		 	Valinda Wolfert
		 	Vinson & Elkins L.L.P.
		 	2001 Ross Avenue
		 	Suite 3700
		 	Dallas, TX 75201

  

 ANNEX A 
 FOURTH SUPPLEMENTAL INDENTURE

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