Document:

Form of Eighth Amendment to Restructuring Support Agreement

 Exhibit 10.1 
 EIGHTH AMENDMENT TO RESTRUCTURING SUPPORT AGREEMENT 
 This
EIGHTH AMENDMENT TO RESTRUCTURING SUPPORT AGREEMENT (this “Amendment”), dated as of August 12, 2011, is by and between Horizon Lines, Inc. (the “Parent”), a corporation duly organized and existing under the
laws of the State of Delaware, and all of its subsidiaries and any successors thereto (collectively with the Parent, the “Company”) and the holder set forth on the signature page (the “Exchanging Holder”) to the
Amendment (as hereinafter defined) of the 4.25% convertible senior notes due 2012 (the “Notes”) issued under the Indenture, dated as of August 8, 2007 (as amended, supplemented, or modified from time to time, the
“Indenture”), by and between the Parent, as issuer, and The Bank of New York Trust Company, N.A., as Trustee, in the aggregate principal amount of $330,000,000.00. The Exchanging Holder, the Company, and each other person that
becomes a party hereto in accordance with the terms hereof shall be referred to herein individually as a “Party” and, collectively, as the “Parties.” Capitalized terms not herein defined shall have the meanings set
forth in the RSA (as defined below). References herein to percentage of Exchanging Holders refer to the principal amount of the Notes held by such Exchanging Holders. 
 RECITALS 
 WHEREAS, the Company and the
Exchanging Holder are parties to that certain Restructuring Support Agreement, dated as of June 1, 2011, as amended by the First Amendment to Restructuring Support Agreement (the “First Amendment”), dated as of June 10,
2011, the Second Amendment to Restructuring Support Agreement (the “Second Amendment”), dated as of June 17, 2011, the Third Amendment to Restructuring Support Agreement (the “Third Amendment”), dated as of
June 24, 2011, the Fourth Amendment to Restructuring Support Agreement (the “Fourth Amendment”), dated as of July 1, 2011, the Fifth Amendment to Restructuring Support Agreement (the “Fifth Amendment”),
dated as of July 8, 2011, the Sixth Amendment to Restructuring Support Agreement (the “Sixth Amendment”), dated as of July 22, 2011, and the Seventh Amendment to Restructuring Support Agreement (the “Seventh
Amendment” and together with the First Amendment, the Second Amendment, the Third Amendment, the Fourth Amendment, the Fifth Amendment, and the Sixth Amendment, the “Previous Amendments”), dated as of August 5, 2011
(as so amended modified, or supplemented from time to time, the “RSA”); and 
 WHEREAS,
the Parties have agreed to further amend the RSA in accordance with and subject to the terms and conditions set forth herein. 

AGREEMENT 
 NOW, THEREFORE, in consideration of the agreements hereinafter set forth, and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the Parties
hereto agree as follows: 
 1. Amendments to the RSA. 

 1.1 Section 3(b)(i) of the RSA is hereby amended by deleting the
reference to “August 12, 2011” and inserting in lieu thereof the reference to “August 19, 2011.” 
 1.2 The last paragraph of Section 3 of the RSA is hereby amended by deleting the reference to “August 12, 2011” and inserting in lieu thereof the reference to “August 19, 2011.”

 1.3 Section 4(b) of the RSA is hereby amended by deleting the reference to “August 12, 2011”
and inserting in lieu thereof the reference to “August 19, 2011.” 
 1.4 Section 5.1(d) of the
RSA is hereby amended by deleting the reference to “August 12, 2011” and inserting in lieu thereof the reference to “August 19, 2011.” 
 1.5 Section 5.2(b) of the RSA is hereby amended by deleting the reference to “August 12, 2011” and inserting in lieu thereof the reference to “August 19, 2011.” 

2. Effectiveness. This Amendment will be effective and binding upon the Company and the undersigned Exchanging Holder as of the
date (the “Amendment Effective Date”) on which: (i) the Company shall have executed and delivered counterpart signature pages of this Amendment to counsel to the Exchanging Holder and (ii) at least two-thirds of the
Exchanging Holders shall have executed and delivered counterpart signature pages of this Amendment to counsel to the Company. 

3. Representations and Warranties. Each Party hereby represents and warrants that as of the Amendment Effective Date, the
representations and warranties contained in Section 8 of the RSA are true and current in all material respects on and as of Amendment Effective Date (and after giving pro forma effect to the Transactions) to the same extent as though made on
and as of that date, except to the extent such representations and warranties specifically relate to an earlier date, in which case such representations and warranties shall have been true and correct in all material respects on and as of such
earlier date. 
 4. Effect Upon RSA. Except as specifically set forth herein, the RSA shall remain in full force and
effect and is hereby ratified and confirmed. The Parties hereto specifically acknowledge and agree that the RSA, as hereby amended, is in full force and effect in accordance with its respective terms and has not been modified, except pursuant to the
Previous Amendments and this Amendment. This Amendment shall be deemed to be Definitive Documentation for all purposes under and in connection with the RSA and the other Definitive Documentation and shall be binding upon and inure to the benefit of
each of the parties hereto and their respective successors and assigns. All references to the “RSA” in the Definitive Documentation shall mean and refer to the RSA, as modified by this Amendment. 

5. Counterparts. This Amendment may be executed in one or more counterparts, each of which, when so executed, shall constitute the
same instrument and the counterparts may be delivered by facsimile transmission or by electronic mail in portable document format (.pdf). 

  
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 6. Headings. The headings of the sections, paragraphs and subsections of this
Amendment are inserted for convenience only and shall not affect the interpretation hereof. 
 7. Governing Law. This
Amendment shall be governed by, and construed in accordance with, the laws of the State of New York, without regard to such state’s choice of law provisions which would require the application of the law of any other jurisdiction.

  
 3 

 IN WITNESS WHEREOF, the Parties hereto have caused their duly authorized
officers to execute and deliver this Amendment as of the date first above written. 
  

			
	 HORIZON LINES, INC.

		
	 By:
	 	  

		 	 Name:

		 	 Title:

	
	 HORIZON LINES HOLDING CORP.

		
	 By:
	 	  

		 	 Name:

		 	 Title:

	
	 HORIZON LINES, LLC

		
	 By:
	 	  

		 	 Name:

		 	 Title:

	
	 HORIZON LINES OF PUERTO RICO, INC.

		
	 By:
	 	  

		 	 Name:

		 	 Title:

	
	 HAWAII STEVEDORES, INC.

		
	 By:
	 	  

		 	 Name:

		 	 Title:

 Signature Page to Eighth Amendment to Restructuring 

Support Agreement 

  
 4 

 
			
	 HORIZON LOGISTICS, LLC

		
	 By:
	 	  

		 	 Name:

		 	 Title:

	
	 H-L DISTRIBUTION SERVICE, LLC

		
	 By:
	 	  

		 	 Name:

		 	 Title:

	
	 HORIZON LINES OF ALASKA, LLC

		
	 By:
	 	  

		 	 Name:

		 	 Title:

	
	 HORIZON LINES OF GUAM, LLC

		
	 By:
	 	  

		 	 Name:

		 	 Title:

	
	 HORIZON LINES VESSELS, LLC

		
	 By:
	 	  

		 	 Name:

		 	 Title:

 Signature Page to Eighth Amendment to Restructuring 

Support Agreement 

  
 5 

 
			
	 SEA-LOGIX, LLC

		
	 By:
	 	  

		 	 Name:

		 	 Title:

	
	 AERO LOGISTICS, LLC

		
	 By:
	 	  

		 	 Name:

		 	 Title:

	
	 HORIZON SERVICES GROUP, LLC

		
	 By:
	 	  

		 	 Name:

		 	 Title:

 Signature Page to Eighth Amendment to Restructuring 

Support Agreement 

  
 6 

 
					
	 EXCHANGING HOLDER:

	
	 [INSERT NAME OF EXCHANGING HOLDER]

		
	 By:
	 	  

		 	 Name:
	 	  

		 	 Title:
	 	  

 Signature Page to Eighth Amendment to Restructuring 

Support Agreement 

  
 7Agreement, dated as of June 29,2011

 Exhibit 10.1 
 AGREEMENT 
 This AGREEMENT (“Agreement”) is entered into as of
June 29, 2011, by and among EVERTEC, Inc. (the “Company”) and Carib Holdings, Inc. (“Holdings”), each a corporation organized and existing under the laws of the Commonwealth of Puerto Rico, Luis O. Abreu
(“Executive”) of legal age, married with Ileana González under a separate community agreement or prenuptial agreement and resident of San Juan, Puerto Rico. Ileana González appears solely for the purposes of
Section 10 of this Agreement. 
 WHEREAS, the Company and Executive entered into an Employment Agreement dated as of
October 1, 2010 (the “Employment Agreement”), and Holdings and the Executive have entered into an Option Agreement, dated as of February 11, 2011 (the “Option Agreement”) and a Stockholder Agreement, dated
September 30, 2010 as amended from time to time (the “Stockholder Agreement”); 
 WHEREAS, in connection
with the EVERTEC, Inc. Voluntary Retirement Plan (the “Retirement Plan”), the Executive will retire from employment effective on December 1, 2011; 
 WHEREAS, on or about August 1, 2011, the Company will employ a new Chief Financial Officer to fulfill functions previously carried out by Executive. 

WHEREAS, in connection with the Executive’s contemplated retirement, the Company, Holdings and Executive desire to amend certain
terms of the Employment Agreement, accelerate the termination of Executive’s Options and effect a repurchase of Executive’s Common Shares under the Stockholders Agreement; 

NOW, THEREFORE, for good and valuable consideration, the receipt of which is hereby acknowledged, the Parties agree as follows:

  

	 	1.	Capitalized terms used but not otherwise defined in this Amendment shall have the ascribed to such terms in the Employment Agreement, Option Agreement and Stockholders
Agreement, as applicable. 

  

	 	2.	Section 1 of the Employment Agreement is hereby deleted in its entirely and replaced with the following: 

Subject to earlier termination in accordance with Section 3 of this Agreement, Executive shall be employed by the Company through
December 1, 2011 (the “Retirement Date”) at which time Executive’s employment will terminate pursuant to the EVERTEC, Inc. Voluntary Retirement Plan (the “Retirement Plan”) without any further notice.
Subject to Executive’s execution and non-revocation of the Confidential Separation Agreement and General Release attached hereto as Annex 1, Executive will be entitled to the payments and benefits provided for under the Retirement Plan.
In connection with Executive’s participation in the Retirement Plan, Executive hereby resigns from his positions as Chief Financial Officer of the Company and Holdings, effective as of August 1, 2011, and from all remaining positions he
holds as of the Retirement Date with Holdings, the Company or any of its subsidiaries or affiliates, including any position as a member of the board of 

 
directors or similar governing body of any such entity, effective as of the Retirement Date. 
  

	 	3.	Section 2(a) is hereby deleted in its entirety and replaced with the following: 

“During the Employment Period, Executive shall serve as Senior Vice President of the Company, will assist the newly-hired Chief
Financial Officer in all aspects of the CFO role as well as with the transition into such role, and such duties as may be prescribed from time to time by the Board of Directors of the Company (the “Board”) or the Company’s President
and Chief Executive Officer (the “CEO”). Executive shall report directly to CEO and if reasonably requested by the CEO or the Board, Executive hereby agrees to serve (without additional compensation) as an officer and director of the
Company or any affiliate or subsidiary thereof.” 
  

	 	4.	Section 3(d) of the Employment Agreement is hereby amended by adding the following to the end thereof: 

“Notwithstanding the foregoing, Executive’s replacement as Chief Financial Officer of the Company shall not constitute Good
Reason under this Agreement.” 
  

	 	5.	The Option Agreement is hereby terminated and the Options granted thereunder are cancelled effective immediately. 

 

	 	6.	In settlement of the Company’s rights and Executive’s obligations under Section 9 of the Stockholder’s Agreement, Executive hereby agrees to sell,
assign and convey, all right, title and interest in and to 16,500 shares of Class B Non-Voting Common Stock of Holdings, par value $0.01 per share (the “Repurchased Shares”), to Holdings or its designee free and clear of all
Encumbrances and Holdings hereby agrees to accept and repurchase the Repurchased Shares in exchange for the payment to Executive of U.S. $10.00 per share with an aggregate purchase price of U.S. $165,000.00 (the “Purchase Price”).
Executive shall deliver the certificates (the “Certificates”) representing the Purchased Shares duly endorsed in blank, or accompanied by stock powers duly executed in blank promptly following Execution of this Agreement (and no
later than three (3) business days following the execution of this Agreement). Promptly following receipt of the Certificates (and no later than three (3) business days following the execution of this Agreement), Holdings or its designee
shall deliver the Purchase Price at its option (x) in the form of a cashier’s check, certified check or money order or (y) by wire transfer of immediately available funds to an account that has been designated in writing by Executive.
Subject to the terms and conditions of the foregoing, each of Executive and Holdings shall use commercially reasonable efforts to take, or cause to be taken all appropriate action, do or cause to be done all things, necessary, proper of advisable
under applicable law, and execute and such documents, instruments and other papers, in each case, as may be required to carry out the provisions of this Section 6 and consummate and make effective the transactions contemplated hereby and
thereby. 

  
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	 	7.	Executive, for himself, his heirs, executors, administrators, successors and assigns (hereinafter collectively referred to as the “Releasors”), hereby
fully releases and discharges Holdings and the Company, their respective stockholders, subsidiaries, affiliates, insurers, successors, and assigns, and their respective officers, directors, employees, related parties and agents (all such persons,
firms, corporations and entities being deemed beneficiaries hereof and are referred to herein as the “Related Parties”) from any and all actions, causes of action, claims, obligations, costs, losses, liabilities, damages and demands
of whatsoever character, whether or not known, suspected or claimed, which the Releasors have against the Related Parties arising out of or in any way related to in respect of Executive’s Options and Repurchased Shares.

  

	 	8.	This Agreement shall be governed and construed in accordance with the laws of the Commonwealth of Puerto Rico, without giving effect to any choice of law or conflicting
provision or rule (whether of the Commonwealth of Puerto Rico or any other jurisdiction) that would cause the laws of any jurisdiction other than the Commonwealth of Puerto Rico to be applied. 

 

	 	9.	This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original but all of which together will constitute one and the same
instrument. 

  

	 	10.	The undersigned spouse of Executive has read and hereby approves and consents to the transactions contemplated by Sections 5, 6 and 7 of this Agreement and hereby
agrees to be irrevocably bound by all the terms of Section 5, 6 and 7 of this Agreement. 

 [SIGNATURE PAGE
FOLLOWS] 

  
 3 

 IN WITNESS WHEREOF, the Parties have executed this Agreement as of the date first written
above. 
  

			
	CARIB HOLDINGS, INC.
		
	By:	 	 /s/ Felix M. Villamil

	Name:	 	Felix M. Villamil
	Title:	 	CEO & President
	
	EVERTEC, INC.
		
	By:	 	 /s/ Felix M. Villamil

	Name:	 	Felix M. Villamil
	Title:	 	CEO & President
	
	EXECUTIVE
	
	 /s/ Luis O. Abreu

	Luis O. Abreu
	
	SPOUSE, solely with respect to Section 10 of this Agreement
	
	 /s/ Ileana Gonzalez

	Ileana Gonzalez

  
 [Signature
Page to Abreu Agreement]

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