Document:

Unassociated Document

    

    Exhibit 10.2.1

    

    AMENDMENT NO. 1
TO

    MEMBERSHIP INTEREST PURCHASE
AGREEMENT

    

    

    This
AMENDMENT NO. 1 dated
July 29, 2010 (this “Amendment”) to the MEMBERSHIP INTEREST PURCHASE
AGREEMENT dated as of March 1, 2010 (as amended, the “Purchase Agreement”), by and
among MDC ACQUISITION
INC., a Delaware corporation (the "Purchaser"), WWG, LLC, a Florida limited
liability company ("WWG"), TODD GRAHAM ("Graham"), KEVIN BERG ("Berg"), VINCENT PARINELLO ("Parinello"), DANIEL K. GREGORY ("Gregory"), STEPHEN GROTH ("Groth"), and SEAN M. O'TOOLE ("O'Toole"; and together with
Graham, Berg, Parinello, Gregory and Groth, collectively, the "Principals", and individually
a "Principal").

    

    WITNESSETH :

    

    WHEREAS, pursuant to the
Purchase Agreement, the Purchaser purchased all of WWG’s Class A Units (the
“Purchased Interests”)
in the Company, representing a 60% equity interest in the Company;

    

    WHEREAS, the parties hereto
desire to amend the Purchase Agreement as hereinafter set forth and agree to
certain other matters contained herein;

    

               NOW, THEREFORE, in
consideration of the mutual covenants and agreements set forth in this
Amendment, and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto do hereby agree
as follows:

    

    1.           Capitalized
terms used but not defined herein shall have the meanings ascribed to such terms
in the Purchase Agreement.

    

    2.           Section
2.1.1 of the Purchase Agreement is hereby amended by changing the lettering of
subsections (i), (j) and (k) to be (j), (k) and (l), respectively, and adding a
new subsection (i) immediately following subsection (h) as follows:

    

    “(i)           Extra
Payments.  (A) The Purchaser shall pay to WWG an amount equal
to $986,250 in respect of the calendar year associated with FAP, such payment to
be made in 2 installments, the first equal to $657,500 on July 1, 2010 (the
“First Extra Payment”)
and the second equal to $328,750 on or before October 1, 2010 and (B) the
Purchaser shall pay to WWG an amount equal to $1,315,000 in respect of the
calendar years associated with SAP or TAP, as the case may be, such payments to
be made in 4 equal installments of $328,750 on or before the first Business Day
of each calendar quarter of the calendar years associated with SAP or TAP, as
the case may be (each payment under (A) and (B), an "Extra Payment", and
collectively, the "Extra
Payments").”

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    
      	
               
      

            	
              Receipt
      of the First Extra Payment is hereby acknowledged by
  WWG.

            

    

    

    3.           Section
2.1.1(l) of the Purchase Agreement is hereby amended to add the phrase “the
Extra Payments,” immediately before the word “FAP” in the second sentence of
such Section.

    

    4.           Section
2.1.2 of the Purchase Agreement is hereby amended by striking the “and” in
clause (xvi), renumbering clause (xvii) as (xix), and adding new clauses (xvii)
and (xviii) immediately following clause (xvi) as follows:

    

    “(xvii)       for
each calendar year in respect of which an Extra Payment is required to be made
under Section 2.1.1, PBT shall be reduced by an amount equal to the Extra
Payment made in respect of such calendar year;

    

    (xviii)       PBT
for each of 2010 and 2011 shall, if applicable, be increased by an amount equal
to the Applicable Reduction Amount (as defined in the Operating Agreement) in
respect of such calendar year; provided, however, any such increase shall in no
event be greater that the amount of reduction to PBT for such calendar year
described in clause (xvii) above; and”

    

    5.           As
used in the Purchase Agreement, the term “Agreement” shall mean the Purchase
Agreement, as from time to time amended (including, without limitation, this
Amendment).  Except as set forth above, the Purchase Agreement, as
amended herein, shall remain in full force and force without further
modification.

    

    6.           This
Amendment may be executed in one or more counterparts, and each such counterpart
shall be deemed an original instrument, but all such counterparts taken together
shall constitute but one agreement.  Facsimile signatures shall
constitute an original.

    

    

    *                      *                      *                      *

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    IN WITNESS WHEREOF, the
parties hereto have executed this Amendment No. 1 to the Purchase Agreement, on
the day and year first above written.

    

    
      
        	 	MDC ACQUISITION
      INC.	 
	 	 	 	 
	
                 

              	
                By: 

              	 	 
	 	 	
                Name:

              	 
	 	 	
                Title:

              	
                 

              
	 	 	 	 
	 	WWG,
      LLC	 
	 	 	 	 
	 	By:
      	 	 
	 	 	      
                Name:

              	 
	 	 	      
                Title:

              	 
	 	 	 	 
	 	 	 
	 	Todd
      Graham	 
	 	 	 
	 	 	 
	 	Kevin
      Berg	 
	 	 	 
	 	 	 
	 	Vincent
      Parinello	 
	 	 	 
	 	 	 
	 	Daniel
      K. Gregory	 
	 	 	 
	 	 	 
	 	Stephen
      Groth	 
	 	 	 
	 	 	 
	 	Sean
      M. O’Toole	 

      

    

    
      
         

      

      
        3Unassociated Document

    

    Exhibit 10.2.2

    

    AMENDMENT NO. 1
TO

    AMENDED AND RESTATED
OPERATING AGREEMENT

    

    

    This
AMENDMENT NO. 1 dated
July 29, 2010 (this “Amendment”) to the AMENDED AND RESTATED OPERATING
AGREEMENT (the “Operating Agreement”) of THE ARSENAL LLC, a Delaware
limited liability company formerly known as TEAM Holdings LLC (the “Company”) dated as of March 1,
2010, is made and entered into by and among the Company, MDC ACQUISITION INC., a
Delaware corporation (“MDC
Holdco”), WWG, LLC,
a Florida limited liability company (“WWG”), and WWG2, LLC, a Florida limited
liability company ("WWG2").

    

    WITNESSETH :

    

    WHEREAS, the parties hereto
desire to amend the Operating Agreement as hereinafter set forth and agree to
certain other matters contained herein;

    

    WHEREAS, WWG, WWG2 and MDC
Holdco are members of the Company having sufficient authority under Sections 4.1
and 14.4 of the Operating Agreement to cause the amendments contained
herein;

    

               NOW, THEREFORE, in
consideration of the mutual covenants and agreements set forth in this
Amendment, and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto do hereby agree
as follows:

    

    1.           Capitalized
terms used but not defined herein shall have the meanings ascribed to such terms
in the Operating Agreement.

    

    2.           Article
VIII of the Operating Agreement is hereby amended by adding a new Section 8.2
immediately following Section 8.1, as follows:

    

    “Section 8.2.  Use of
Company as Administrator of Certain Payments. If permitted by applicable
law, the Members agree that the Company may administer the payment of amounts to
certain members of WWG in connection with the payment to WWG of the Extra
Payments (as defined in the Purchase Agreement) (including collection of tax
withholding, making appropriate governmental filings, and remittance of all
payroll and other related taxes to the appropriate governmental authorities)
provided that WWG shall have paid to the Company in advance all amounts to be
paid by the Company.”

    

    3.           Section
10.4(a) of the Operating Agreement is hereby amended such that when determining
each of the First Class B Payment, Second Class B Payment and Final Class B
Payment, the value determined by operation of Section 10.4(a) in the Operating
Agreement without giving effect to this Amendment shall, in each case, be
further reduced by the Reduction Amount.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    4.           Section
10.4(e) of the Operating Agreement is hereby amended by adding new clauses (xix)
and (xx) immediately following clause (xviii) to include the following
definitions:

    

    “(xix)
"Reduction Amount" shall
mean the sum of (i) if Daniel Gregory’s employment with the Company is
terminated prior to December 31, 2012, the result of (x) $1,017,500, multiplied
by (y) a fraction, the numerator of which is the number of days in the period
commencing on his Date of Termination and ending on December 31, 2012, and the
denominator of which is the number of days in the period commencing April 1,
2010 and ending on December 31, 2012, (ii) if Todd Graham’s employment with the
Company is terminated prior to December 31, 2012, the result of (x) $1,237,500,
multiplied by (y) a fraction, the numerator of which is the number of days in
the period commencing on his Date of Termination and ending on December 31,
2012, and the denominator of which is the number of days in the period
commencing April 1, 2010 and ending on December 31, 2012, (iii) if Sean
O’Toole’s employment with the Company is terminated prior to December 31, 2012,
the result of (x) $811,250, multiplied by (y) a fraction, the numerator of which
is the number of days in the period commencing on his Date of Termination and
ending on December 31, 2012, and the denominator of which is the number of days
in the period commencing April 1, 2010 and ending on December 31, 2012 and (iv)
if Stephen Groth’s employment with the Company is terminated prior to December
31, 2012, the result of (x) $550,000, multiplied by (y) a fraction, the
numerator of which is the number of days in the period commencing on his Date of
Termination and ending on December 31, 2012, and the denominator of which is the
number of days in the period commencing April 1, 2010 and ending on December 31,
2012.

    

    (xx)           “Applicable Reduction Amount”
shall mean, with respect to any calendar year, the portion of the Reduction
Amount attributable to such calendar year.”

    

    5.           Section
10.4(e)(xiii) of the Operating Agreement is hereby amended by deleting the word
“and” following clause (16), replacing the period following clause (17) with a
semicolon, and adding two new clauses (18) and (19) immediately following clause
(17) to read as follows:

    

    “(18)         for
each calendar year in respect of which an Extra Payment (as defined in the
Purchase Agreement) is required to be made under the Purchase Agreement, PBT
shall be reduced by an amount equal to the Extra Payment made in respect of such
calendar year; and

    

    (19)           PBT
for each of 2010, 2011 and 2012 shall, if applicable, be increased by an amount
equal to the Applicable Reduction Amount in respect of such calendar year;
provided, however, any such increase shall in no event be greater that the
amount of reduction to PBT for such calendar year described in clause (18)
above.”

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    

    4.           Section
13.1 of the Operating Agreement is hereby amended by replacing the existing
definition of “GAAP PBT” with the following:

    

    “"GAAP PBT" shall mean, for any
calendar (or partial) year, the consolidated net income (loss) of the Company
and its subsidiaries (if any) before provision for all federal, state and local
income taxes for such period, determined in accordance with GAAP less (A) (i)
with respect to calendar year 2010, $986,250 or (ii) with respect to calendar
years 2011 or 2012, $1,315,000; plus (B) if applicable, the Applicable Reduction
Amount in respect of such calendar (or partial) year; provided, however, for
calendar year 2010, GAAP PBT shall be calculated from and after the Effective
Time through December 31, 2010.”

    

    6.           As
used in the Operating Agreement, the term “Agreement” shall mean the Operating
Agreement, as from time to time amended (including, without limitation, this
Amendment).  Except as set forth above, the Operating Agreement, as
amended herein, shall remain in full force and force without further
modification.

    

    7.           This
Amendment may be executed in one or more counterparts, and each such counterpart
shall be deemed an original instrument, but all such counterparts taken together
shall constitute but one agreement.  Facsimile signatures shall
constitute an original.

    

    

    *                      *                      *                      *

     

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    IN WITNESS WHEREOF, the
parties hereto have executed this Amendment No. 1 to the Operating Agreement, as
of the day and year first above written.

    

    
      
        	 	MDC
      ACQUISITION INC.	 
	 	 	 	 
	
                 

              	
                By:

              	 	 
	 	 	
                Name:

              	 
	 	 	
                Title:

              	
                 

              
	 	 	 	 
	 	WWG,
      LLC	 
	 	 	 	 
	 	By:	 	 
	 	 	      
                Name:

              	 
	 	 	      
                Title:

              	 
	 	 	 	 
	 	WWG2,
      LLC	 
	 	 	 	 
	 	By:	 	 
	 	 	      
                Name:

              	 
	 	 	      
                Title:

              	 
	 	 	 	 
	 	THE
      ARSENAL LLC	 
	 	 	 	 
	 	By:
      	 	 
	 	 	      
                Name:

              	 
	 	 	      
                Title:

              	 

      

    

    

    
      
         

      

      
        4

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