AMENDMENT TO MONITORING AGREEMENT DATED OCTOBER 1, 2002
Exhibit 10.16
AMENDMENT TO MONITORING AGREEMENT
DATED OCTOBER 1, 2002
WHEREAS, BLACKSTONE MANAGEMENT PARTNERS L.P., a Delaware limited partnership (“BMP” and ▇▇▇▇▇▇ HOLDINGS, INC., a Delaware Corporation (“HHI”) and ▇▇▇▇▇▇ INTERNATIONAL, INC. A Delaware corporation (“Opco”) entered into a MONITORING AGREEMENT (this “Agreement”) dated as of October 1, 2002.
NOW, THEREFORE, in consideration of the foregoing recital and conditions contained in this Amendment, the parties hereto agree as follows:
| 1. | Effective January 1, 2003, ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇ (“▇▇▇▇▇▇”) is serving as Chairman of the Board of HHI and Opco. |
| 2. | HHI and Opco have agreed to pay to ▇▇▇▇▇▇ a monthly fee of $20,833.33 (the “Monthly Fee”) for such services and also to reimburse him for his reasonable out-of-pocket expenses (as defined in the Agreement). |
| 3. | BMP, HHI and Opco agree that the amount of all Monthly Fees paid to ▇▇▇▇▇▇ by HHI and Opco during his tenure as Chairman will reduce the annual Monitoring Fee (as defined in the Agreement). |
IN WITNESS WHEREOF, the parties have caused this Agreement to be executed and delivered by their duly authorized officers or agents as of the date first above written.
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BLACKSTONE MANAGEMENT PARTNERS L.P. By: Blackstone Management Partners L.L.C., Its General Partner By: /s/ ▇▇▇▇▇ ▇. ▇▇▇ /s/ ▇▇▇▇▇ ▇. ▇▇▇ Name: ▇▇▇▇▇ ▇. ▇▇▇ Title: Senior Managing Director |
▇▇▇▇▇▇ HOLDINGS, INC. By: ▇▇▇▇▇▇ International, Inc. By: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇ /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇ Name: ▇▇▇▇▇▇ ▇. ▇▇▇▇▇ Title: Vice President-Finance, CFO ▇▇▇▇▇▇ INTERNATIONAL, INC. By: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇ /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇ Name: ▇▇▇▇▇▇ ▇. ▇▇▇▇▇ Title: Vice President-Finance, CFO |
