Document:

Exhibit

Exhibit 10.1
                        

May 9, 2018

Pamela Sergeeff

Re: Special Cash Retention Incentive

Dear Pam:

You are a key and valued executive at TiVo Corporation (together with its subsidiaries, the “Company” or “TiVo”) and you play a critical role in our success in the near and long term.  As such, this letter is to inform you of a special Retention Incentive that will be provided as a further commitment from TiVo to you in recognition of your impact here at TiVo.  

The details and schedule of this special Retention Incentive are as follows:

Special Cash Retention Incentive:  Effective as of the date hereof, you are eligible to receive a cash Retention Incentive in the amount of $375,000.00 to be paid out in the next regularly scheduled payroll occurring after December 31, 2019 (“Retention Incentive”).

The terms of this Retention Incentive are as follows:
		
	(i)
	You will be expected to perform your full and normal duties throughout the term of this retention period (i.e., the period commencing on the date of this letter agreement and ending on the date the Retention Incentive is paid).  

		
	(ii)
	Nothing in this agreement changes the “at will” employment relationship between you and the Company and the offer of this Retention Incentive does not confer upon any employee any right to continued employment with the Company. 

		
	(iii)
	All benefits hereunder are subject to withholding for applicable income and payroll taxes or otherwise as required by law.

		
	(iv)
	In no event will you accrue any right or entitlement to any Retention Incentive under this letter agreement unless you remain an employee in good standing on the date that the Retention Incentive payment is made.  

		
	(v)
	If your employment is terminated by the Company without Cause (as defined below) or you resign for “Good Reason” (as defined below) before May 9, 2019 and you have remained actively employed in good standing through your termination date, you will remain eligible to receive 66% of the Retention Incentive, subject to the execution of a mutually agreed upon separation agreement and general release of claims (the “Release”).  For example, if you are terminated without Cause at any time on or before May 9, 2019, then (a) you will receive a cash payment equal to your Retention Incentive amount multiplied by 66% (0.66).  The Retention Incentive will be paid to you in cash in the next regularly scheduled payroll occurring after the effective date of the 

San Jose   |   2160 Gold Street   |   San Jose, CA  95002, United States
tivo.com 

Release (and in no event later than March 15 following the year of your termination or resignation).
		
	(vi)
	If your employment is terminated by the Company without Cause or you resign for Good Reason after May 9, 2019, you will receive 100% of the Retention Incentive amount (subject to signing of the Release).  The Retention Incentive will be paid to you in cash in the next regularly scheduled payroll occurring after the effective date of the Release (and in no event later than March 15 following the year of your termination or resignation).

		
	(vii)
	If (a) you voluntarily resign from the Company without Good Reason, or (b) you are terminated by the Company for Cause, or (c) you are terminated by the Company for poor performance (as reasonably determined by the Company’s Board of Directors), or (d) you die or become disabled, in each case on or before December 31, 2019, then you shall not be entitled to any portion of the Retention Incentive.

		
	(viii)
	A transfer of employment (a) between any TiVo entity or (b) to any third-party entity that is a successor to the Company or its business(es) where your employment is continued shall not constitute a termination of employment for purposes of this agreement and shall not trigger subsections (v) or (vi) above.

For purposes of this letter agreement, “Cause” and “Good Reason” shall have the same meanings as given to them in the Form of Executive Severance and Arbitration Agreement filed as Exhibit 10.22 to the TiVo Corporation Form 10-K for the year ended December 31, 2017.

We hope this letter agreement reinforces to you how valuable you are to TiVo and how appreciative we are of your ongoing efforts on the Company’s behalf.  

Please do not hesitate to call me or Sharpy Sandhu in Compensation if you have any questions.

Sincerely,

/s/ Enrique Rodriguez

Enrique Rodriguez
President and CEO

San Jose   |   2160 Gold Street   |   San Jose, CA  95002, United States
tivo.comExhibit

EXHIBIT 10.1

FIRST AMENDMENT TO SHAREHOLDERS AGREEMENT
This FIRST AMENDMENT TO SHAREHOLDERS AGREEMENT, dated March 8, 2018 (this “Amendment”), is by and among (a) Americold Realty Trust, a Maryland real estate investment trust (the “Company”), (b) YF ART Holdings, L.P. (the “Yucaipa Party”), (c) GS Capital Partners VI Fund, L.P., GS Capital Partners VI Parallel, L.P., GSCP VI Offshore IceCap Investment, L.P., GSCP VI GmbH IceCap Investment, L.P. and IceCap2 Holdings, L.P. (the “GSCP Parties”), (d) CF Cold LP (the “Fortress Investor”) and (e) YF ART Holdings Aggregator, LLC (the “Yucaipa Investor”), and amends that certain Shareholders Agreement, dated January 18, 2018 (the “Shareholders Agreement”), by and among (i) the Company, (ii) the Yucaipa Party, (iii) the GSCP Parties, (iv) Charm Progress Investment Limited, (v) the Fortress Investor, and (vi) the Yucaipa Investor.
WHEREAS, the Company and the other parties hereto intend to amend through this Amendment certain provisions of the Shareholders Agreement pursuant to Section 7.12 thereof in connection with the entry into that certain Margin Loan Agreement, dated as of March 8, 2018, by and among the Yucaipa Party, the lenders party thereto, Morgan Stanley Senior Funding, Inc., as Administrative Agent, and Morgan Stanley & Co. LLC, as Collateral Agent and Calculation Agent (the “Margin Loan Agreement”).  
NOW THEREFORE, in consideration of the premises and the representations, warranties, covenants and agreements contained in this Amendment and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, and intending to be legally bound hereby, the parties hereto agree as follows:
1.Definitions.  All capitalized terms used in this Amendment but not otherwise defined herein are given the meanings ascribed to them in the Shareholders Agreement.
2.Definition of Transfer.  The definition of “Transfer” shall exclude the Excluded Transfers as such term is defined in the Notice to the Coordination Committee, dated of even date herewith, delivered by the Yucaipa Party which references this Amendment (the “Notice”).  Notwithstanding the foregoing, the Yucaipa Party agrees to notify the Coordination Committee (x) promptly, but in no event more than two (2) business days, after any Excluded Transfer initiated by the Yucaipa Party and (y) promptly after the Yucaipa Party receives a Collateral Call Notice (as defined in the Margin Loan Agreement).  The parties hereto acknowledge that the Yucaipa Party is not permitted to consent to a modification of such definition of  Excluded Transfer or any other modification with a similar effect without the prior written consent of the Administrative Agent so long as the obligations under the Margin Loan Agreement remain outstanding.
3.Captions.  The headings or titles to the sections and paragraphs of this Amendment and the title of this instrument are not part of this Amendment but are inserted for convenience only and have no effect upon the construction or interpretation of any part of this Amendment.
4.Counterparts.  This Amendment may be executed by facsimile or .pdf signatures and in any number of counterparts with the same effect as if all signatory parties had signed the same document.  All counterparts shall be construed together and shall constitute one and the same instrument.
5.Governing Law.  This Amendment shall in all respects be governed by, and construed in accordance with, the laws (excluding conflict of laws rules and principles) of the State of New York applicable to agreements made and to be performed entirely within such State, including all matters of construction, validity and performance.

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6.Incorporation by Reference.  Sections 7.2, 7.3, 7.4, 7.5, 7.7, 7.11, and 7.12 of the Shareholders Agreement are incorporated by reference as if fully set forth herein.  

[Signature pages follow]
IN WITNESS WHEREOF, the undersigned have caused their duly authorized representatives to execute this Amendment as of the date first above written.

COMPANY:

AMERICOLD REALTY TRUST

By: /s/ Daniel C. Deckbar            
Name:     Daniel C. Deckbar            
Title:     Vice President, Deputy General Counsel

[Signatures continue on following page]

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THE YUCAIPA PARTY:

YF ART HOLDINGS, L.P.

By: YF ART Holdings GP, LLC,
its general partner

By: /s/ Henry E. Orren            
Name:     Henry E. Orren            
Title:     Assistant Vice President & Secretary    

[Signatures continue on following page]

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GSCP PARTIES:

GS CAPITAL PARTNERS VI FUND, L.P.
By: GSCP VI Advisors, L.L.C., 
its general partner

By: /s/ Bradley Gross                
Name: Bradley Gross
Title: Vice President

GS CAPITAL PARTNERS VI PARALLEL, L.P. 
By: GS Advisors VI, L.L.C., 
its general partner

By: /s/ Bradley Gross                
Name: Bradley Gross
Title: Vice President

GSCP VI OFFSHORE ICECAP INVESTMENT, L.P.
By: GSCP VI Offshore IceCap Holdings Entity GP, Ltd., 
its general partner

By: /s/ Bradley Gross                
Name: Bradley Gross
Title: Vice President

GSCP VI GMBH ICECAP INVESTMENT, L.P.
By: GSCP VI GmbH IceCap Holdings Entity GP, Ltd., 
its general partner

By: /s/ Bradley Gross                
Name: Bradley Gross
Title: Vice President

ICECAP2 HOLDINGS, L.P.
By: IceCap2 Holdings Entity GP, Ltd., 
its general partner

By: /s/ Bradley Gross                
Name: Bradley Gross
Title: Vice President

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[Signatures continue on following page]

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FORTRESS INVESTOR:

CF COLD, LP

By: CF Cold GP LLC, its general partner

By: /s/ Constantine M. Dakolias        
Name:     Constantine M. Dakolias        
Title: President                

[Signatures continue on following page]

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YUCAIPA INVESTOR:

YF ART HOLDINGS AGGREGATOR, LLC

By: /s/ Henry E. Orren            
Name:     Henry E. Orren            
Title: Assistant Vice President & Secretary    

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