EXHIBIT 10.3
AMENDMENT NO. 1 TO SECURITYHOLDERS AGREEMENT
--------------------------------------------
This Amendment No. 1 to Securityholders Agreement (this "Amendment")
---------
is made as of September 30, 1997, by and among The ▇▇▇▇▇▇▇▇ Companies, Inc., a
Delaware corporation formerly known as BrightView Communications Group, Inc.
(the "Company"), ▇▇▇▇▇▇▇▇ Holdings, L.L.C., a Delaware limited liability company
-------
("Holdings"), and the other Persons executing this Amendment and listed on the
--------
Schedule of Investors attached hereto (each, an "Investor" and all of such
--------------------- --------
Persons, collectively, the "Investors").
---------
The Company, Holdings and the Investors are parties to a
Securityholders Agreement, dated as of September 30, 1996 among the Company,
Holdings and the Investors (the "Securityholders Agreement"), and wish to amend
-------------------------
the Securityholders Agreement as provided herein. The execution and delivery of
this Amendment is a condition to the obligations of the Company and the
Investors under the Contribution and Recapitalization Agreement, dated as of
September 30, 1997, by and among the Company and the Investors (the
"Contribution Agreement").
----------------------
In consideration of the mutual agreements set forth herein and in the
Contribution Agreement and other good and valuable consideration, the receipt
and sufficiency of which is hereby acknowledged, the parties hereto agree as
follows:
1. Section 2.1(b) of the Securityholders Agreement is hereby
deleted.
2. The fourth sentence of Section 2.3 of the Securityholders
Agreement is hereby amended and restated to read in its entirety as set forth
below:
"Such proxies and powers shall be irrevocable, subject only to Section
-------
2.5 below."
---
3. The following is added as Section 2.5 of the Securityholders
Agreement: amended and restated to read in its entirety as set forth below:
"2.5 TERMINATION OF VOTING AGREEMENTS. The provisions of this
--------------------------------
Article II shall terminate automatically and be of no further force or
----------
effect as of the day twenty-one (21) calendar months after the
consummation of the Contribution Transactions, as defined in the
Contribution and Recapitalization Agreement, dated as of September 30,
1997, among The ▇▇▇▇▇▇▇▇ Companies, Inc., ▇▇▇▇▇▇ ▇▇▇▇▇, Nassau Capital
Partners II, L.P., NAS Partners I, L.L.C. and the other Persons listed
on the Schedule of Investors attached thereto, as amended.
---------------------
4. The following is added as Section 6.1(f) of the Securityholders
Agreement:
"(f) The provisions of this Section 6.1 shall terminate automatically
-----------
and be of no further force or effect upon a Qualified IPO."
5. This Amendment may be executed in two or more counterparts, all
of which taken together will constitute one and the same agreement.
* * * * *
IN WITNESS WHEREOF, the parties hereto have executed this Amendment
No.1 to Securityholders Agreement as of the date first written above.
THE ▇▇▇▇▇▇▇▇ COMPANIES, INC.
By: /s/ ▇▇▇▇▇▇▇ ▇ ▇▇▇▇▇▇
-------------------------------------------
Name: ▇▇▇▇▇▇▇ ▇ ▇▇▇▇▇▇
Title: Executive Vice President and Chief
Financial Officer
▇▇▇▇▇▇▇▇ HOLDINGS, L.L.C.
By: The ▇▇▇▇▇▇▇▇ Companies, Inc.
Its: Manager
By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
-------------------------------------------
Name: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
Title: Executive Vice President and Chief
Financial Officer
▇▇▇▇▇▇ ▇▇▇▇▇ & PARTNERS, L.P.
By: ▇▇▇▇▇▇ ▇▇▇▇▇ & Partners, L.L.C.
Its: General Partner
By: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇▇
-------------------------------------------
Name: ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇▇
Title: Managing Director
NASSAU CAPITAL PARTNERS II, L.P.
By: Nassau Capital, L.L.C.
Title: General Partner
By: /s/ ▇▇▇▇ ▇. ▇▇▇▇▇▇▇
-------------------------------------------
Name: ▇▇▇▇ ▇. ▇▇▇▇▇▇▇
Title: Member
NAS PARTNERS I, L.L.C.
By: /s/ ▇▇▇▇ ▇. ▇▇▇▇▇▇▇
-------------------------------------------
Name: ▇▇▇▇ ▇. ▇▇▇▇▇▇▇
Title: Member
[Signature Page to Amendment No. 1 to Securityholders Agreement]
▇▇▇▇▇▇▇▇ PROPERTIES
By: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
-------------------------------------------
Name: ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
Title: Chairman of the Board
CHASE EQUITY ASSOCIATES, L.P.
By: Chase Capital Partners
Its: General Partner
By: /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
-------------------------------------------
Name: ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
Title: General Partner
BANKAMERICA INVESTMENT CORPORATION
By: /s/ ▇▇▇▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇
-------------------------------------------
Name: ▇▇▇▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇
Title: Managing Director
CIVC PARTNERS II
By: /s/ ▇▇▇▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇
-------------------------------------------
Name: ▇▇▇▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇
Title: A General Partner
CIBC WG ARGOSY MERCHANT FUND 2, L.L.C.
By: /s/ ▇▇▇ ▇▇▇▇▇▇
-------------------------------------------
Name: ▇▇▇ ▇▇▇▇▇▇
Title: Managing Director
ALLSTATE INSURANCE COMPANY
By: /s/ ▇▇▇▇ ▇. Goesne
-------------------------------------------
Name: ▇▇▇▇ ▇. Goesne
[Signature Page to Amendment No. 1 to Securityholders Agreement]
By: /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇
-------------------------------------------
Name: ▇▇▇▇▇ ▇. ▇▇▇▇▇
Title: Authorized Signatories
FUI, INC.
By: /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇
-------------------------------------------
Name: ▇▇▇▇▇ ▇. ▇▇▇▇▇▇
Title: Senior Vice President
NORWEST EQUITY CAPITAL, L.L.C.
By: Itasca NEC, L.L.C.
Its: Managing Member
By: /s/ ▇.▇. ▇▇▇▇▇▇▇
-------------------------------------------
Name: ▇.▇. ▇▇▇▇▇▇▇
Title: Managing Member
/s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇, ▇▇.
-------------------------------------------
▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇, ▇▇.
THE ▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇ AND ▇▇▇▇▇ ▇▇▇▇▇
TRUST
By: /s/ ▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇
-------------------------------------------
Name: ▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇
Title: Trustee
/s/ ▇▇▇▇▇▇ ▇▇▇▇
-------------------------------------------
▇▇▇▇▇▇ ▇▇▇▇
/s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇
-------------------------------------------
▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇
/s/ ▇▇▇▇▇ ▇▇▇▇
-------------------------------------------
▇▇▇▇▇ ▇▇▇▇
/s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇
-------------------------------------------
▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇
[Signature Page to Amendment No. 1 to Securityholders Agreement]
/s/ ▇. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇
-------------------------------------------
▇. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇
/s/ ▇▇▇▇ ▇▇▇▇▇▇
-------------------------------------------
▇▇▇▇ ▇▇▇▇▇▇
/s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
-------------------------------------------
▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
/s/ ▇▇▇▇ ▇▇▇▇▇▇
-------------------------------------------
▇▇▇▇ ▇▇▇▇▇▇
/s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇
-------------------------------------------
▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇
/s/ ▇▇▇▇ ▇▇▇▇▇▇▇▇▇
-------------------------------------------
▇▇▇▇ ▇▇▇▇▇▇▇▇▇
/s/ ▇▇▇▇▇ ▇▇▇▇▇
-------------------------------------------
▇▇▇▇▇ ▇▇▇▇▇
/s/ ▇▇▇ ▇▇▇▇▇▇▇
-------------------------------------------
▇▇▇ ▇▇▇▇▇▇▇
/s/ ▇▇▇ ▇▇▇▇▇▇
-------------------------------------------
▇▇▇ ▇▇▇▇▇▇
/s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇
-------------------------------------------
▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇
/s/ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇
-------------------------------------------
▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇
[Signature Page to Amendment No. 1 to Securityholders Agreement]
▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇, Custodian for ▇▇▇▇▇▇
▇▇▇▇▇▇▇▇▇ ▇▇▇ Rollover
By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇
-------------------------------------------
Name: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇
Title: Branch Manager
MLPF&S, Custodian FPO ▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇ FBO
▇▇▇▇▇ ▇▇▇▇▇▇▇
By: /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇
-------------------------------------------
Name: ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇
Title: Assistant Vice President
/s/ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇
-------------------------------------------
▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇
/s/ ▇▇▇ ▇▇▇▇▇▇▇
-------------------------------------------
▇▇▇ ▇▇▇▇▇▇▇
