Document:

exv10w3

EXHIBIT 10.3

May 4, 2011

Enstar Group Limited

P.O. Box 2267, Windsor Place, 3rd Floor

18 Queen Street

Hamilton, HM JX

Bermuda

Attn: Richard J. Harris

          Re: Waiver of Housing Allowance under Employment Agreement

Dear
Richard,

          Effective January 1, 2011, I hereby waive my right to a housing allowance under my Amended and
Restated Employment Agreement with Enstar Group Limited, dated May 1, 2007, in consideration of the
Compensation Committee’s decision to increase my annual base salary by an amount equal to the
annual amount of the housing allowance.

	 	 	 	 	 
	 	Sincerely,

 	 
	 	/s/ Dominic F. Silvester
 	 
	 	Dominic F. Silvester 	 
	 	 	 
	 

Accepted and agreed to

this 4th day of May, 2011

 

ENSTAR GROUP LIMITED

	 	 	 

	By: /s/ Richard J. Harris
 

Name: Richard J. Harris

	 	 
	Title: Chief Financial Officerexv10w4

EXHIBIT 10.4

May 4, 2011

Enstar Group Limited

P.O. Box 2267, Windsor Place, 3rd Floor

18 Queen Street

Hamilton, HM JX

Bermuda

Attn: Dominic F. Silvester

          Re: Waiver of Housing Allowance under Employment Agreement

Dear Dominic,

          Effective January 1, 2011, I hereby waive my right to a housing allowance under my Employment
Agreement with Enstar Group Limited, dated May 1, 2007, in consideration of the Compensation
Committee’s decision to increase my annual base salary by an amount equal to the annual amount of
the housing allowance.

	 	 	 	 	 
	 	Sincerely,

 	 
	 	/s/ Paul J. O’Shea
 	 
	 	Paul J. O’Shea 	 
	 	 	 
	 

Accepted and agreed to

this 4th day of May, 2011

 

ENSTAR GROUP LIMITED

	 	 	 

	By: /s/ Dominic F. Silvester
 

	 	 
	Name: Dominic F. Silvester
	 	 
	Title: Chairman and Chief Executive Officerexv10w5

EXHIBIT 10.5

May 4, 2011

Enstar Group Limited

P.O. Box 2267, Windsor Place, 3rd Floor

18 Queen Street

Hamilton, HM JX

Bermuda

Attn: Dominic F. Silvester

          Re: Waiver of Housing Allowance under Employment Agreement

Dear Dominic,

          Effective January 1, 2011, I hereby waive my right to a housing allowance under my Employment
Agreement with Enstar Group Limited, dated May 1, 2007, in consideration of the Compensation
Committee’s decision to increase my annual base salary by an amount equal to the annual amount of
the housing allowance.

	 	 	 	 	 
	 	Sincerely,

 	 
	 	/s/ Nicholas A. Packer
 	 
	 	Nicholas A. Packer 	 
	 	 	 
	 

Accepted and agreed to

this 4th day of May, 2011

 

ENSTAR GROUP LIMITED

	 	 	 

	By: /s/ Dominic F. Silvester
 

Name: Dominic F. Silvester

	 	 
	Title: Chairman and Chief Executive Officerexv10w6

EXHIBIT 10.6

May 4, 2011

Enstar Group Limited

P.O. Box 2267, Windsor Place, 3rd Floor

18 Queen Street

Hamilton, HM JX

Bermuda

Attn: Dominic F. Silvester

          Re: Waiver of Housing Allowance under Employment Agreement

Dear Dominic,

          Effective January 1, 2011, I hereby waive my right to a housing allowance under my Employment
Agreement with Enstar Group Limited, dated May 1, 2007, in consideration of the Compensation
Committee’s decision to increase my annual base salary by an amount equal to the annual amount of
the housing allowance.

	 	 	 	 	 
	 	Sincerely,

 	 
	 	/s/ Richard J. Harris
 	 
	 	Richard J. Harris 	 
	 	 	 
	 

Accepted and agreed to

this 4th day of May, 2011

 

ENSTAR GROUP LIMITED

	 	 	 

	By: /s/ Dominic F. Silvester
 

Name: Dominic F. Silvester

	 	 
	Title: Chairman and Chief Executive Officerexv10w1

Exhibit 10.1

SPS COMMERCE, INC.

Amendment No. 1 to Registration Rights Agreement

     This Amendment No. 1 (this “Amendment”) to the Registration Rights Agreement by and among SPS
Commerce, Inc., a Delaware corporation (the “Company”), and the parties listed therein dated as of
April 10, 2007 (the “Agreement”) is effective as of May 5, 2011. Capitalized terms used but not
defined in this Amendment have the meanings given to those terms in the Agreement.

Recitals

     A. The Company entered into in the Agreement with the Investors who held shares of the
Company’s previously outstanding Preferred Stock in connection with the Company’s issuance of the
Series C Preferred Stock.

     B. In connection with the Company’s initial public offering, all of the Preferred Stock
converted into Common Stock (the “Conversion”) and the Common Stock began trading on the Nasdaq
Global Market.

     C. To facilitate the financing of the Company as a publicly-traded company, the undersigned,
constituting (i) the Company and (ii) the Persons who held at least 66.67% of the issued and
outstanding Series A Preferred Stock, Series B Preferred Stock and Series C Preferred Stock at the
time of Conversion desire to amend the Agreement as set forth below.

Agreement

     Now, therefore, for good and valuable consideration, the undersigned hereby agree as follows:

     1. The following is added as Section 11(s) of the Agreement:

     “(s) Termination of Registration Rights. The right of any Investor to
be notified of or request registration or inclusion of Registrable Securities in any
registration pursuant to Section 3 or Section 4 shall terminate upon the earlier of
such time as Rule 144 under the Securities Act or another similar exemption under
the Securities Act is available for the sale of all of such Investor’s shares
without limitation during a three-month period without registration.”

     2. Section 11(b) of the Agreement is amended and restated to read in its entirety as follows:

     “(b) Amendments; Waivers. This Agreement may be amended or modified
and the observance of any term or condition of this Agreement may be waived (either
generally or in a particular instance, and either retroactively or prospectively)
only by a written agreement executed by the Company and the holders of at least
66.67% of the Common Stock issued upon conversion of the Preferred Stock that have
not been previously sold and are not able to be sold pursuant to Rule 144 under the
Securities Act or another similar exemption under the Securities Act without
limitation during a three-month period without registration.”

     3. Section 11(d) of the Agreement is amended and restated to read in its entirety as follows:

     “(d) Benefit of Parties; Assignability. All of the terms and
provisions of this Agreement will be binding upon and inure to the benefit of the
parties and their respective successors and assigns, including without limitation
all subsequent holders of securities entitled to the benefits of this Agreement who
agree in writing to become bound by the terms of this Agreement within two business
days after first becoming a holder of securities entitled to the benefits of this
Agreement; provided, however, the Company may not delegate its responsibilities or
assign its rights under this Agreement

			
	 	 	 
	Amendment of Registration Rights Agreement
	 	Page 1

 

 

without the prior written consent of the holders of at least 66.67% of the
Common Stock issued upon conversion of the Preferred Stock.”

     4. Except as expressly provided herein, no further amendments to the Agreement are provided
hereby.

     5. The validity, meaning and effect of this instrument will be determined, construed and
enforced in accordance with the laws of the State of Delaware, without regard to conflict of laws
principles of any other state.

     6. This instrument may be executed by facsimile signature and in counterparts, each of which
will be deemed an original, but all of which will constitute one and the same instrument.

[Remainder of page left intentionally blank — signature pages follow]

			
	 	 	 
	Amendment of Registration Rights Agreement
	 	Page 2

 

 

     IN WITNESS WHEREOF, the parties have caused this instrument to be effective as of the date
first written above.

	 	 	 	 	 
	 	SPS COMMERCE, INC.

 	 
	 	By:  	/s/ Kimberly K. Nelson
 	 
	 	 	Kimberly K. Nelson 	 
	 	 	Chief Financial Officer 	 

			
	 	 	 
	Amendment of Registration Rights Agreement
	 	Signature Page

 

 

     IN WITNESS WHEREOF, the parties have caused this instrument to be effective as of the date
first written above.

	 	 	 	 	 
	 	CID EQUITY FUND V LIQUIDATING TRUST

CID EQUITY PARTNERS V, as Trustee

By: Aplin Partners, LLC, as General Partner

 	 
	 	By:  	/s/ John C. Aplin
 	 
	 	 	John C. Aplin 	 
	 	 	Sole Member 	 
	 
	 	CID MEZZANINE CAPITAL, L.P.

By: CID Mezzanine Partners, L.P., as General Partner

 	 
	 	By:  	/s/ John C. Aplin
 	 
	 	 	John C. Aplin 	 
	 	 	General Partner 	 

			
	 	 	 
	Amendment of Registration Rights Agreement
	 	Signature Page

 

 

     IN WITNESS WHEREOF, the parties have caused this instrument to be effective as of the date
first written above.

	 	 	 	 	 
	 	BVCF IV, L.P.

By: Adams Street Partners, LLC, as General Partner

 	 
	 	By:  	/s/ Jeffrey T. Diehl
 	 
	 	 	Jeffrey T. Diehl 	 
	 	 	Partner 	 

			
	 	 	 
	Amendment of Registration Rights Agreement
	 	Signature Page

 

 

     IN WITNESS WHEREOF, the parties have caused this instrument to be effective as of the date
first written above.

	 	 	 	 	 
	 	SPVC IV, LLC

 	 
	 	By:  	/s/ Michael B. Gorman
 	 
	 	 	Michael B. Gorman 	 
	 	 	Managing Member 	 
	 
	 	SPVC V, LLC

 	 
	 	By:  	/s/ Michael B. Gorman
 	 
	 	 	Michael B. Gorman 	 
	 	 	Managing Member 	 
	 
	 	SPVC VI, LLC

By: SPVC Management VI, LLC, its Managing Member

 	 
	 	By:  	/s/ Michael B. Gorman
 	 
	 	 	Michael B. Gorman 	 
	 	 	Managing Director 	 
	 
	 	SPVC AFFILIATES FUND I, LLC

By: Split Rock Partners, LLC
Its: Co-Manager

 	 
	 	By:  	/s/ Michael B. Gorman
 	 
	 	 	Michael B. Gorman 	 
	 	 	Managing Director 	 

			
	 	 	 
	Amendment of Registration Rights Agreement
	 	Signature Page

 

 

     IN WITNESS WHEREOF, the parties have caused this instrument to be effective as of the date
first written above.

	 	 	 	 	 
	 	RIVER CITIES CAPITAL FUND II LIMITED PARTNERSHIP

By: River Cities Management II, L.P.
Its: General Partner

By: Mayson II, Inc.
Its: General Partner

 	 
	 	By:  	/s/ Edwin T. Robinson
 	 
	 	 	Edwin T. Robinson 	 
	 	 	President 	 
	 
	 	RIVER CITIES SBIC III, L.P.

By: RCCF Management Inc.
Its: General Partner

 	 
	 	By:  	/s/ Edwin T. Robinson
 	 
	 	 	Edwin T. Robinson 	 
	 	 	President 	 

			
	 	 	 
	Amendment of Registration Rights Agreement
	 	Signature Page

 

 

     IN WITNESS WHEREOF, the parties have caused this instrument to be effective as of the date
first written above.

	 	 	 	 	 
	 	THE STEVEN ADDIS TRUST U/D/T 7/28/92

 	 
	 	By:  	/s/ Steven Addis
 	 
	 	 	Steven Addis 	 
	 	 	Trustee 	 
	 
	 	ALLENWOOD VENTURES, INC.

 	 
	 	By:  	 	 
	 	 	Name:
	 
	 	 	Its:
	 
	 
	 	AXIOM VENTURE PARTNERS II LIMITED PARTNERSHIP

 	 
	 	By:  	/s/ Alan Mendelson
 	 
	 	 	Name:  	Alan Mendelson 	 
	 	 	Its:       General Partner 	 
	 	 	 
	 	 	 
	 	Barry M. Bloom 	 
	 	 	 
	 	 	 
	 	Molly Joel Coye 	 

			
	 	 	 
	Amendment of Registration Rights Agreement
	 	Signature Page

 

 

     IN WITNESS WHEREOF, the parties have caused this instrument to be effective as of the date
first written above.

	 	 	 	 	 
	 	 	 
	 	                                              /s/ Ronald Karlsberg
 	 
	 	Ronald Karlsberg 	 
	 	 	 
	 	R.P. KARLSBERG CARDIOVASCULAR MEDICAL GROUP OF
SOUTHERN CALIFORNIA 401(K) PROFIT SHARING PLAN DTD
1/1/1989

 	 
	 	By:  	/s/ Ronald Karlsberg
 	 
	 	 	Ronald Karlsberg. Trustee 	 
	 	 	 
	 	 	 
	 	Martin Leibowitz 	 
	 
	 	PACIFIC CAPITAL VENTURES, LLC

 	 
	 	By:  	 	 
	 	 	Name:
	 
	 	 	Its:
	 
	 
	 	PV SECURITIES CORP.

 	 
	 	By:  	 	 
	 	 	Name:
	 
	 	 	Its:
	 
	 	 	 
	 	                                              /s/ Casimir Skrzypczak
 	 
	 	Casimir Skrzypczak 	 
	 	 	 

			
	 	 	 
	Amendment of Registration Rights Agreement
	 	Signature Page

 

 

     IN WITNESS WHEREOF, the parties have caused this instrument to be effective as of the date
first written above.

	 	 	 	 	 
	 	SVOBODA, COLLINS & COMPANY Q.P., L.P.

 	 
	 	By:  	/s/ John A. Svoboda
 	 
	 	 	Name:  	John A. Svoboda 	 
	 	 	Its:       Sr. Managing Director 	 
	 
	 	SVOBODA, COLLINS & COMPANY, L.P.

 	 
	 	By:  	/s/ John A. Svoboda
 	 
	 	 	Name:  	John A. Svoboda 	 
	 	 	Its:       Sr. Managing Director 	 
	 
	 	TENX VENTURE PARTNERS, LLC

 	 
	 	By:  	 	 
	 	 	Name:
	 
	 	 	Its:
	 
	 
	 	ZAFA LLC

 	 
	 	By:  	/s/ Henry Zachs
 	 
	 	 	Name:  	Henry Zachs 	 
	 	 	Its:       Managing Partner 	 
	 
	 	BLUECREST STRATEGIC LIMITED

 	 
	 	By:  	 	 
	 	 	Name:
	 
	 	 	Its:
	 

			
	 	 	 
	Amendment of Registration Rights Agreement
	 	Signature Page

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