Document:

Exhibit 10.12

 

November 4, 2015

 

SFX Entertainment, Inc.

SFX-React Operating LLC

430 Park Avenue, 6th Floor

New York, NY  10022

Attention:  Shelly Finkel

Mitchell Nelson, Esq.

 

Robert F.X. Sillerman

902 Broadway, 15th Floor

New York, New York 10010

 

Re:                             Amendment and Reaffirmation of Guaranty and Promissory Note

 

Gentlemen:

 

Reference is made to (i) that certain Guaranty dated July 7, 2015 (the “Guaranty”) made by Robert F.X. Sillerman (“Guarantor”) for the benefit of React Presents, Inc., Clubtix, Inc., Lucas King and Jeffrey Callahan (collectively, “Holders”), and (ii) that certain Promissory Note dated July 7, 2015 (the “Promissory Note”) made by SFX Entertainment, Inc. and SFX-React Operating LLC (collectively, “Makers”) in favor of Holders.

 

Pursuant to the Promissory Note, and as defined therein, the “Third Installment” payment in the amount of $2,000,000 was due on November 2, 2015.  Makers have requested that the Third Installment under the Promissory Note be extended such that it is due on December 1, 2015; and Holders are willing to agree to such extension, all upon the terms and conditions set forth in this letter agreement.

 

Therefore, in consideration of the mutual promises made herein and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows.

 

The Third Installment payment due date under the Promissory Note shall be and hereby is amended, modified and extended to December 1, 2015.

 

The “Guaranty Limitation Amount”, as defined in the Guaranty, as $7,000,000, shall be and hereby is amended, modified and increased to $7,829,353.13.

 

The undersigned Guarantor hereby acknowledges, confirms and ratifies (i) the Guaranty, (ii) that all of Guarantor’s obligations, covenants and agreements under the Guaranty, and all of the rights and remedies of Holders thereunder and with respect thereto, remain in full force and effect, and (iii) that the Guaranty, as modified by this letter agreement, is hereby reaffirmed and admitted to be in existence.  Except as specifically and expressly modified by this letter agreement, the Guaranty (including any and all provisions thereof) shall not be, and is not, impaired, limited, reduced, compromised or modified by any acts or dealings of the parties prior to the date hereof, by any payments made pursuant to and in accordance with the Promissory Note prior to the date hereof, or otherwise.

 

The undersigned Makers hereby acknowledge, confirm and ratify (i) the Promissory Note, (ii) that all of Makers’ obligations, covenants and agreements under the Promissory Note, and all of the rights and remedies of Holders thereunder and with respect thereto, remain in full force and effect, and (iii) that

 

 

the Promissory Note, as modified by this letter agreement, is hereby reaffirmed and admitted to be in existence.  Except as specifically and expressly modified by this letter agreement, and except with respect to payments previously made in reduction of the original principal amount thereof, the Promissory Note (including any and all provisions thereof) shall not be, and is not, impaired, limited, reduced, compromised or modified by any acts or dealings of the parties prior to the date hereof, or otherwise.

 

	
 
    	
Very truly yours,
    
	
 
    	
 
    
	
 
    	
REACT PRESENTS, INC.,   CLUBTIX, INC.,
    
	
 
    	
JEFFREY CALLAHAN and LUCAS KING
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 /s/ Harlan D. Kahn
    
	
 
    	
 
    	
One of their attorneys
    
	
 
    	
 
    
	
 
    	
 
    
	
ACKNOWLEDGED, ACCEPTED
    	
 
    
	
AND AGREED:
    	
 
    
	
 
    	
 
    
	
SFX ENTERTAINMENT, INC.
    	
 
    
	
 
    	
 
    
	
By:
    	
/s/ Robert F.X Sillerman
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Its:
    	
Chief Executive Officer/Chairman
    	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
SFX-REACT OPERATING, LLC
    	
 
    
	
 
    	
 
    
	
By:
    	
 /s/ Sheldon Finkel
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Its:
    	
Vice President
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
/s/   Robert F.X SillermanExhibit 4.2.1

 Exhibit 4.2.1 

AMENDMENT NO. 1 TO THE 

AMENDED AND RESTATED STOCKHOLDERS AGREEMENT 

THIS AMENDMENT NO. 1 TO THE AMENDED AND RESTATED STOCKHOLDERS AGREEMENT (“Amendment”) is made as of November 6, 2015, by
and among Truck Hero, Inc. (f/k/a TA THI Parent, Inc.) (“Company”) and the stockholders named therein (the “Stockholders”). Unless otherwise indicated herein, words and terms which are defined in the Stockholders
Agreement (as defined below) shall have the same meaning where used herein. 
 R E C I T A L S 

WHEREAS, the Company and the Stockholders entered into that certain Amended and Restated Stockholders Agreement dated April 21,
2015 (the “Stockholders Agreement”); 
 WHEREAS, the Company and the Stockholders desire to amend Sections 7, 8, 9.2
and 10.1 of the Stockholders Agreement such that those sections shall expire on the consummation of the Company’s initial public offering; 

WHEREAS, pursuant to Section 11.2 of the Stockholders Agreement, Sections 7, 8, 9.2 and 10.1 of the Stockholders Agreement may be
amended with written consent of: (i) the Controlling Sponsors, (ii) the Rollover Investor, (iii) GE Investor, (iv) Ares Investor, (v) ACAS Investor and (vi) the Majority Holders; and 

WHEREAS, the undersigned Stockholders represent the Controlling Sponsors, Rollover Investor, GE Investor, Ares Investor, ACAS Investor
and the Majority Holders. 
 NOW, THEREFORE, in consideration of the promises and conditions contained herein, the parties hereby
agree as follows: 
 1. Amendment to Section 7. The following section is hereby added to Section 7 of the Stockholders
Agreement: 
 “7.3 Period. The foregoing provisions of this Section 7 shall expire on the
consummation of the Initial Public Offering.” 
 2. Amendment to Section 8. The following section is hereby added to
Section 8 of the Stockholders Agreement: 
 “8.4 Period. The foregoing provisions of this
Section 8 shall expire on the consummation of the Initial Public Offering.” 
 3. Amendment to Section 9.2. The
following sentence is hereby added to the end of Section 9.2 of the Stockholders Agreement: 
 “The foregoing provisions of this
Section 9.2 shall expire on the consummation of the Initial Public Offering.” 

 4. Amendment to Section 10.1. The following sentence is hereby added to the end of
Section 10.1 of the Stockholders Agreement: 
 “The foregoing provisions of this Section 10.1 shall expire on the
consummation of the Initial Public Offering.” 
 5. Continued Validity of the Stockholders Agreement. Except as specifically
amended hereby, the Stockholders Agreement shall continue in full force and effect as originally constituted and is ratified and affirmed by the parties hereto. 

6. Successors and Assigns. Except as otherwise provided herein, the terms and conditions of this Amendment shall inure to the benefit of
and be binding upon the respective successors and assigns of the parties. 
 7. Governing Law. This Amendment shall be governed by and
construed under the laws of the State of Delaware. 
 8. Counterparts. This Amendment may be executed in two or more counterparts,
each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. 
 [Remainder of page
intentionally left blank] 

  
 2 

 IN WITNESS WHEREOF, each of the parties has executed
this Amendment No. 1 to Stockholders Agreement as of the day and year first above written. 
  

			
	COMPANY:
	
	TRUCK HERO, INC.
		
	By:	 	 /s/ William Reminder

	Name: William Reminder
	Title: CEO

  
 3 

 IN WITNESS WHEREOF, each of the parties has executed
this Amendment No. 1 to Stockholders Agreement as of the day and year first above written. 
  

			
	THE SPONSORS:
	
	TA XI, L.P.
	
	By: TA Associates XI GP, L.P.
	Its General Partner
	
	By: TA Associates, L.P.
	Its General Partner
		
	By:	 	 /s/ Michael S. Berk

		 	Name: Michael S. Berk
		 	Title: Managing Director

  

			
	TA INVESTORS IV, L.P.
		
	By:	 	TA Associates, L.P.
		 	Its General Partner
		
	    By:	 	 /s/ Michael S. Berk

	    Name: Michael S. Berk
	    Title: Managing Director

  
 4 

 IN WITNESS WHEREOF, each of the parties has executed
this Amendment No. 1 to Stockholders Agreement as of the day and year first above written. 
  

			
	THE SPONSORS:
	
	TA ATLANTIC AND PACIFIC VII-B L.P.
		
	By:	 	TA Associates AP VII GP, L.P.
		 	Its General Partner
		
	By:	 	TA Associates, L.P.
		 	Its General Partner
		
	By:	 	 /s/ Michael S. Berk

	Name:	 	Michael S. Berk
	Title:	 	Managing Director
	
	TA ATLANTIC AND PACIFIC VII-A L.P.
		
	By:	 	TA Associates AP VII GP, L.P.
		 	Its General Partner
		
	By:	 	TA Associates, L.P.
		 	Its General Partner
		
	By:	 	 /s/ Michael S. Berk

	Name:	 	Michael S. Berk
	Title:	 	Managing Director

 SIGNATURE PAGE TO TRUCKHERO, INC. 

AMENDMENT NO. 1 TO THE STOCKHOLDERS AGREEMENT 

 IN WITNESS WHEREOF, each of the parties has executed
this Amendment No. 1 to Stockholders Agreement as of the day and year first above written. 
  

			
	ROLLOVER INVESTOR:
	
	KINDERHOOK CAPITAL FUND II, L.P.
		
	    By:	 	Kinderhook Capital Fund II GP, LLC,
		
		 	its General Partner
		
	    By:	 	 /s/ Thomas Tuttle

		
	    Name:	 	 Thomas Tuttle

		
	    Title:	 	 Managing Director

 SIGNATURE PAGE TO TRUCKHERO, INC. 

AMENDMENT NO. 1 TO THE STOCKHOLDERS AGREEMENT 

 IN WITNESS WHEREOF, each of the parties has executed
this Amendment No. 1 to Stockholders Agreement as of the day and year first above written. 
  

			
	 GE INVESTOR:

	
	 ANTARES HOLDINGS, LP

		
	     By:
	 	Arena Holdings GP Inc, General Partner
		
	     Signature:
	 	 /s/ Brad Mashinter

	    Name: Brad Mashinter
	    Title: Duly Authorized Signator
	
	 ANTARES CAPITAL 2, LP

		
	     By:
	 	 /s/ Devasena Vallabhaneni

	    Name: Devasena Vallabhaneni
	    Title: Duly Authorized Signatory

 SIGNATURE PAGE TO TRUCKHERO, INC. 

AMENDMENT NO. 1 TO THE STOCKHOLDERS AGREEMENT 

 IN WITNESS WHEREOF, each of the parties has executed
this Amendment No. 1 to Stockholders Agreement as of the day and year first above written. 
  

			
	ACAS INVESTOR:
	
	AMERICAN CAPITAL, LTD.
		
	    By:	 	 /s/ Ryan S. Brauns

		
	    Name:	 	 Ryan S. Brauns

		
	    Title:	 	 M.D. & S.V.P.

 SIGNATURE PAGE TO TRUCKHERO, INC. 

AMENDMENT NO. 1 TO THE STOCKHOLDERS AGREEMENT 

 IN WITNESS WHEREOF, each of the parties has executed
this Amendment No. 1 to Stockholders Agreement as of the day and year first above written. 
  

			
	 ARES INVESTOR:

	
	ARES CAPITAL CORPORATION
		
	    By:	 	 /s/ Mitchell Goldstein

		
	    Name:	 	 Mitchell Goldstein

		
	    Title:	 	 Authorized Signatory

 SIGNATURE PAGE TO TRUCKHERO, INC. 

AMENDMENT NO. 1 TO THE STOCKHOLDERS AGREEMENT

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