SEC Contract Filing

Filing Date: 2019-07-17

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>traterminationagreement.htm
<DESCRIPTION>EXHIBIT 10.1 TRA TERMINATION AND RELEASE AGREEMENT
<TEXT>
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<div><a name="s109EBC5FF8FE6DCB37B3FBBBCACC87D5"></a></div><div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">TRA TERMINATION AND RELEASE AGREEMENT </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">THIS TRA TERMINATION AND RELEASE AGREEMENT</font><font style="font-family:inherit;font-size:12pt;">&#32;(this &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;), is entered into as of July 11, 2019 (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Effective Date</font><font style="font-family:inherit;font-size:12pt;">&#8221;) by and among Spark Energy, Inc., a Delaware corporation (&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">SEI</font><font style="font-family:inherit;font-size:12pt;">&#8221;), Spark HoldCo, LLC, a Delaware limited liability company (&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Spark HoldCo</font><font style="font-family:inherit;font-size:12pt;">&#8221;), Retailco, LLC, a Texas limited liability company (&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Retailco</font><font style="font-family:inherit;font-size:12pt;">&#8221;), NuDevco Retail, LLC, a Delaware limited liability company (&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">NuDevco Retail</font><font style="font-family:inherit;font-size:12pt;">&#8221; and, together with Retailco, the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Members</font><font style="font-family:inherit;font-size:12pt;">&#8221;), and W. Keith Maxwell III (&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Agent</font><font style="font-family:inherit;font-size:12pt;">&#8221;). </font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">RECITALS</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">WHEREAS</font><font style="font-family:inherit;font-size:12pt;">, SEI, Spark HoldCo, NuDevco Retail, NuDevco Retail Holdings, LLC, a Delaware limited liability company (&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">NuDevco Retail Holdings</font><font style="font-family:inherit;font-size:12pt;">&#8221;), and the Agent entered into that certain Tax Receivable Agreement, dated as of August 1, 2014, (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">TRA</font><font style="font-family:inherit;font-size:12pt;">&#8221;);</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">WHEREAS</font><font style="font-family:inherit;font-size:12pt;">, pursuant to an internal reorganization, Retailco succeeded to the interest of NuDevco Retail Holdings under (1) the TRA, (2) that certain limited liability company agreement of Spark HoldCo, as amended (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Spark HoldCo LLC Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;), and (3) that certain Registration Rights Agreement, effective as of August 1, 2014, by and among SEI, NuDevco Retail and NuDevco Retail Holdings (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Registration Rights Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;);</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">WHEREAS</font><font style="font-family:inherit;font-size:12pt;">, the TRA sets forth the agreements among the parties regarding the sharing of certain tax benefits realized by SEI as a result of the Members exchanging their membership units in Spark HoldCo, together with an equal number of shares of SEI&#8217;s Class B common stock, par value $0.01 per share (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Class B Shares</font><font style="font-family:inherit;font-size:12pt;">&#8221;) for shares of SEI&#8217;s Class A common stock, par value $0.01 per share (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Class A Shares</font><font style="font-family:inherit;font-size:12pt;">&#8221;) or cash, and such agreements under the TRA entitle the Members to certain payments and other rights under the TRA (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">TRA Rights</font><font style="font-family:inherit;font-size:12pt;">&#8221;); </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-