Document:

ex10_43.htm

Exhibit 10.43

 

First Amendment dated December 1, 2010 to Put Rights Agreement among HENRY SCHEIN, INC., OAK HILL CAPITAL MANAGEMENT PARTNERS II, L.P., OAK HILL CAPITAL PARTNERS II, L.P. and BUTLER ANIMAL HEALTH HOLDING COMPANY, LLC (the “Company”).

Background

WHEREAS:

A.           The parties hereto have entered into a Put Rights Agreement dated December 31, 2009 (the “Put Rights Agreement”);

B.           The Company may from time to time purchase shares of the Company from its employees, managers or consultants or issue options or restricted shares or other forms of long term incentive compensation (collectively, “Employee Securities”) to its employees, managers or consultants;

C.           In connection with the purchases or issuances of Employee Securities described in the immediately previous recital, a valuation of the Company may be obtained from independent third parties or the Board of Managers of the Company may establish a value for the Company or a value or strike price for such Employee Securities (collectively, “Employee Valuations”); and

D.           The parties desire to amend the Put Rights Agreement to provide that such Employee Valuations shall not be taken into account in determining Fair Market Value under the Put Rights Agreement, inasmuch as such Employee Valuations will not have been determined in accordance with the provisions and procedures set forth in the Put Rights Agreement and such Employee Valuations may have been adjusted to reflect special circumstances not related to Fair Market Value, such as employee  morale; and

E.           Capitalized terms not defined herein shall have the meanings ascribed to them in the Put Rights Agreement.

  

1

  

NOW, THEREFORE, the parties agree as follows:

1.           Amendment to Section 1.1(a).  Section 1.1(a) of the Put Rights Agreement is hereby amended by adding after the definition of “Discount Rate” the following definitions:

“Employee Securities” shall have the meaning set forth in the recitals to the First Amendment to the Put Rights Agreement.

“Employee Valuations” shall have the meaning set forth in the recitals to the First Amendment to the Put Rights Agreement.

2.           Amendments to Section 2.2(a)(ii).

(a)           The third sentence of Section 2.2(a)(ii) of the Put Rights Agreement is hereby amended by inserting the following clause immediately prior to the period at the end of such sentence:

“; provided, further, however, that the Designated Investment Banker shall not consider the value placed on the Company or Employee Securities (whether by independent appraisal or by the Company’s Board of Managers) in connection with the purchase or issuance of Employee Securities.”

(b)           The fifth sentence of Section 2.2(a)(ii) of the Put Rights Agreement is hereby amended by inserting the following clause immediately prior to the period at the end of such sentence:

“; provided, further, however, that any such presentation shall not include any information regarding Employee Valuations.

3.           Amendment to Section 2.5(d).  Section 2.5(d) of the Put Rights Agreement is hereby amended by adding after the first sentence thereof a new sentence to read as follows:

“Notwithstanding anything to the contrary herein, none of the Company, HSI or Oak Hill shall provide the Designated Investment Banker with information regarding Employee Valuations.”

4.           Ratification.  Except as hereby amended, the Put Rights Agreement is hereby ratified and confirmed.

5.           Incorporation by Reference.  The provisions of Article III of the Put Rights Agreement are hereby incorporated by reference as if fully set forth herein.

(Signature page follows)

  

2

  

IN WITNESS WHEREOF, the parties hereto have duly executed and delivered this Agreement on the date first above written.

	  	
HENRY SCHEIN, INC.

	  	  
	  	  
	  	
By: /s/ Michael Ettinger

	  	
Name: Michael Ettinger

	  	
Title: Senior vice president & secretary

	  	  
	  	  
	  	
OAK HILL CAPITAL MANAGEMENT PARTNERS II, L.P.

	  	
OHCP GenPar II, L.P., its general partner

	  	
OHCP MGP II, LLC, its general partner

	  	  
	  	
By: /s/ John R. Monsky

	  	
Name: John R. Monsky

	  	
Title: Vice President

	  	  
	  	  
	  	
OAK HILL CAPITAL PARTNERS II, L.P.

	  	
OHCP GenPar II, L.P., its general partner

	  	
OHCP MGP II, LLC, its general partner

	  	  
	  	  
	  	
By: /s/ John R. Monsky

	  	

Name: John R. Monsky

	  	    Title: Vice President
	  	

 

	  	  
	  	
BUTLER ANIMAL HEALTH HOLDING COMPANY, LLC (solely with respect to the amendment of Section 2.5(d) of the Put Rights Agreement)

	  	  
	  	  
	  	
By :/s/ Kevin R. Vasquez

	  	
Name: Kevin R. Vasquez

	  	
Title: CEO and President

 

3ex10_45.htm

Exhibit 10.45

 

First Amendment dated December 1, 2010 to Put Rights Agreement among HENRY SCHEIN, INC., BURNS VETERINARY SUPPLY, INC. and BUTLER ANIMAL HEALTH HOLDING COMPANY, LLC (the “Company”).

Background

WHEREAS:

A.           The parties hereto have entered into a Put Rights Agreement dated December 31, 2009 (the “Put Rights Agreement”);

B.           The Company may from time to time purchase shares of the Company from its employees, managers or consultants or issue options or restricted shares or other forms of long term incentive compensation (collectively, “Employee Securities”) to its employees, managers or consultants;

C.           In connection with the purchases or issuances of Employee Securities described in the immediately previous recital, a valuation of the Company may be obtained from independent third parties or the Board of Managers of the Company may establish a value for the Company or a value or strike price for such Employee Securities (collectively, “Employee Valuations”); and

D.           The parties desire to amend the Put Rights Agreement to provide that such Employee Valuations shall not be taken into account in determining Fair Market Value under the Put Rights Agreement, inasmuch as such Employee Valuations will not have been determined in accordance with the provisions and procedures set forth in the Put Rights Agreement and such Employee Valuations may have been adjusted to reflect special circumstances not related to Fair Market Value, such as employee morale; and

E.           Capitalized terms not defined herein shall have the meanings ascribed to them in the Put Rights Agreement.

  

1

  

NOW, THEREFORE, the parties agree as follows:

1.           Amendment to Section 1.1(a).  Section 1.1(a) of the Put Rights Agreement is hereby amended by adding after the definition of “Discount Rate” the following definitions:

“Employee Securities” shall have the meaning set forth in the recitals to the First Amendment to the Put Rights Agreement.

“Employee Valuations” shall have the meaning set forth in the recitals to the First Amendment to the Put Rights Agreement.

2.           Amendments to Section 2.2(a)(ii).

(a)           The third sentence of Section 2.2(a)(ii) of the Put Rights Agreement is hereby amended by inserting the following clause immediately prior to the period at the end of such sentence:

“; provided, further, however, that the Designated Investment Banker shall not consider the value placed on the Company or Employee Securities (whether by independent appraisal or by the Company’s Board of Managers) in connection with the purchase or issuance of Employee Securities.”

(b)           The fifth sentence of Section 2.2(a)(ii) of the Put Rights Agreement is hereby amended by inserting the following clause immediately prior to the period at the end of such sentence:

“; provided, further, however, that any such presentation shall not include any information regarding Employee Valuations.

3.           Amendment to Section 2.5(d).  Section 2.5(d) of the Put Rights Agreement is hereby amended by adding after the first sentence thereof a new sentence to read as follows:

“Notwithstanding anything to the contrary herein, none of the Company, HSI or Burns shall provide the Designated Investment Banker with information regarding Employee Valuations.”

4.           Ratification.  Except as hereby amended, the Put Rights Agreement is hereby ratified and confirmed.

5.           Incorporation by Reference.  The provisions of Article III of the Put Rights Agreement are hereby incorporated by reference as if fully set forth herein.

(Signature page follows)

  

2

  

IN WITNESS WHEREOF, the parties hereto have duly executed and delivered this Agreement on the date first above written.

	  	HENRY SCHEIN, INC.
	  	 	  
	  	 	  
	  	By:	
 /s/ Michael Ettinger

	  	 	
Name:Michael Ettinger

	  	 	
Title: Senior vice president & secretary

	  	 	  
	  	 	  
	  	BURNS VETERINARY SUPPLY, INC.
	  	 	  
	  	 	  
	  	By:	
 /s/ Michael Caputo

	  	 	
Name: Michael Caputo

	  	 	
Title: President

	  	 	  
	  	 	  
	  	BUTLER ANIMAL HEALTH HOLDING COMPANY, LLC (solely with respect to the amendment of Section 2.5(d) of the Put Rights Agreement)
	  	 	  
	  	By:	
 /s/ Kevin R. Vasquez

	  	 	
Name: Kevin R. Vasquez

	  	 	
Title: CEO and President

	  	 	  

3exhibit-10_25.htm

AMENDMENT TO

 

EMPLOYMENT AGREEMENT

 

(Restated as of December 31, 2007)

 

WHEREAS, Core Laboratories N.V. and Monty L. Davis have heretofore entered into that certain Employment Agreement (Restated as of December 31, 2007) (the “Agreement”); and

 

WHEREAS, the parties desire to amend the Agreement as provided herein;

 

NOW, THEREFORE, the Agreement is amended hereby effective as of January 1, 2010 (the “Effective Date”), as follows:

 

1. Section 2.2 is amended by changing the stated percentage from 100% to 125% such that the section would now read as follows:

 

“Executive shall be eligible to receive an annual bonus of up to 125% of Executive’s annual base salary with the amount of such bonus to be determined by the Committee based upon criteria established from time to time by the Committee.”

 

2. As amended hereby, the Agreement is specifically ratified and reaffirmed.

 

IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the 1st day of March, 2010, effective for all purposes as of the Effective Date.

 

CORE LABORATORIES N.V.

By Core Laboratories International B.V.,

its sole managing director

By:           /s/ Jan Willem Sodderland

Jan Willem Sodderland

Managing Director of Core Laboratories

International B.V.

/s/ Monty L. Davis

Monty L. Davis

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