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Chemical Leaman Corp/FL – ‘S-4’ on 8/5/97 – EX-10.30

As of:  Tuesday, 8/5/97   ·   Accession #:  950115-97-1174   ·   File #:  333-32863

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  As Of                Filer                Filing    For·On·As Docs:Size              Issuer               Agent

 8/05/97  Chemical Leaman Corp/FL           S-4                   55:5.1M                                   Global Fin’l Press/FA

Registration of Securities Issued in a Business-Combination Transaction   —   Form S-4
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: S-4         Form S-4 Registration Statement                      132    843K 
 2: EX-1.1      Purchase Agreement                                    47    172K 
 3: EX-2.1      Asset Purchase Agreement                              75    303K 
 4: EX-2.2      Plan of Merger                                         6     27K 
 5: EX-3.1      Articles of Incorporation                             58    178K 
 6: EX-3.2      By-Laws                                               17     57K 
 7: EX-4.1      Indenture                                            160    551K 
 8: EX-10.1     Registration Rights Agreement                         35    121K 
17: EX-10.10    Material Contracts                                     4     23K 
18: EX-10.11    Promissory Note                                        4     25K 
19: EX-10.12    Stock Purchase and Pledge Agreement                   12     46K 
20: EX-10.13    Promissory Note                                        5     25K 
21: EX-10.14    Option to Purchase                                     5     29K 
22: EX-10.15    Purchase Agreement                                    17     80K 
23: EX-10.16    Promissory Note                                        5     27K 
24: EX-10.17    Pledge Agreement                                       6     28K 
25: EX-10.18    Purchase Agreement                                    17     78K 
26: EX-10.19    Promissory Note                                        5     26K 
 9: EX-10.2     Credit Agreement                                      56    257K 
27: EX-10.20    Pledge Agreement                                       5     28K 
28: EX-10.21    Promissory Note                                        3     16K 
29: EX-10.22    Promissory Note                                        3     19K 
30: EX-10.23    Promissory Note                                        3     19K 
31: EX-10.24    Consultant Agreement                                   5     23K 
32: EX-10.25    Service Agreement                                     17     66K 
33: EX-10.26    Consulting Agreement                                   5     29K 
34: EX-10.27    Consulting Agreement                                   8     29K 
35: EX-10.28    Agreement and Release                                  9     29K 
36: EX-10.29    Employment Agreement                                   4     29K 
10: EX-10.3     Purchase Agreement                                    17     81K 
37: EX-10.30    Amendment to Letter Agreement                          4     22K 
38: EX-10.31    Exchange Agreement                                    24     86K 
39: EX-10.32    Uniform Bulk Motor Carrier Contract                  318    870K 
40: EX-10.33    Lease Agreement                                       47    158K 
41: EX-10.34    Revolving Credit Agreement                            23     98K 
42: EX-10.35    Amended and Restated Revolving Credit Agreement       75    256K 
43: EX-10.36    Credit Agreement                                      64    269K 
44: EX-10.37    Contribution and Purchase Agreement                  358   1.96M 
45: EX-10.38    Pooling and Servicing Agreement                      539   2.45M 
46: EX-10.39    Certificate Purchase Agreement                         6     37K 
11: EX-10.4     Promissory Note                                        5     26K 
47: EX-10.40    Marketing Services Agreement                          11     43K 
12: EX-10.5     Pledge Agreement                                       5     28K 
13: EX-10.6     Letter Agreement                                       5     23K 
14: EX-10.7     Purchase Agreement                                    17     81K 
15: EX-10.8     Promissory Note                                        5     26K 
16: EX-10.9     Pledge Agreement                                       5     28K 
48: EX-12.1     Computation of Ratios                                  1     16K 
49: EX-21.1     Chemical Leaman Corporation Subsidiaries               2     14K 
50: EX-23.1     Consent of Arthur Andersen LLP                         1     14K 
51: EX-24.(A)   Certified Corporate Resolution                         2     16K 
52: EX-25.1     Form T-1                                               8     35K 
53: EX-27       Financial Data Schedule                                1     16K 
54: EX-99.1     Letter of Transmittal                                 18     83K 
55: EX-99.2     Notice of Guaranteed Delivery                          3     20K 


EX-10.30   —   Amendment to Letter Agreement

EX-10.301st Page of 4TOCTopPreviousNextBottomJust 1st
 

EXHIBIT 10.30
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Chemical Leaman Corporation Chemical Leaman Tank Lines, Inc. 102 Pickering Way Exton, Pennsylvania 19341 October 31, 1995 Mr. Philip J. Ringo 102 Pickering Way Exton, PA 19341 Re: Amendment No. 1 to Letter Agreement dated June 2, 1995 Dear Mr. Ringo: Reference is hereby made to the letter agreement (the "Letter Agreement") dated June 2, 1995 by and among you, Chemical Leaman Corporation and Chemical Leaman Tank Lines, Inc., which has been joined by David R. Hamilton and George McFadden. Capitalized terms used herein and not otherwise defined herein shall have the meanings ascribed to them in the Letter Agreement. This Amendment No. 1 to Letter Agreement sets forth the terms under which the Letter Agreement will be amended, effective as of the date of your execution below. 1. Your right to require the Companies to purchase for cash all of your stock of the Parent as set forth in Paragraph 3 of the Letter Agreement shall be exercisable by you or your representative only by delivering written notice of such election to each of the Companies within 30 days (60 days if your employment terminates as a result of your death or disability) following the date of the fair market value determination provided for in Paragraph 3 of the Letter Agreement, which will be required to be obtained upon and after the termination of your employment at the request of either you or the Companies. Settlement of the purchase of such stock shall occur on the date set forth in such notice, which date shall under no circumstances be more than 20 days after the date of such notice. 2. If your employment is terminated at any time for Just Cause, the Parent shall have the right (but not the obligation) to purchase all or any portion of the shares of the common stock of the Parent which you own. Such right shall be exercisable by the Parent only by delivering written notice of such election to you within 30 days following the date of the fair market value determination provided for in Paragraph 3 of the Letter Agreement, which will be required to be obtained upon and after the termination of your employment at the request of either you or the Companies. The purchase price for such shares shall be the
EX-10.303rd Page of 4TOC1stPreviousNextBottomJust 3rd
fair market value thereof (determined in accordance with Paragraph 3 of the Letter Agreement). Settlement of the purchase of such shares shall occur on the date set forth in such notice, which date shall under no circumstances be more than 20 days after the date of such notice. You acknowledge and agree that any such purchase shall constitute a sale, transfer or conveyance of Shares (as defined in the Stock Purchase and Pledge Agreement, dated August 9, 1995, by and between you and the Parent) for consideration and therefore will require you to prepay your Promissory Note to Parent, dated August 9, 1995 in accordance with, and to the extent of, the terms of Section 2(b) thereof. 3. Notwithstanding the provisions of Paragraph 8 of the Letter Agreement, the purchase price to be paid by you in the event the Parent redeems all or substantially all of the "Szabo block" of shares, and in connection therewith you exercise your right under Paragraph 8 of the Letter Agreement to purchase additional shares of common stock of the Parent (the "Paragraph 8 Shares"), shall be equal to $6,000 per Paragraph 8 Share until June 1, 2000. On and after June 2, 2000, the purchase price per Paragraph 8 Share shall be an amount equal to two-thirds (2/3rds) of the fair market value of such Paragraph 8 Shares (determined in accordance with Paragraph 3 of the Letter Agreement). In addition, if you exercise your right under Paragraph 8 of the Letter Agreement to purchase Paragraph 8 Shares at a time when the fair market value of each of such Paragraph 8 Shares is determined (by the Parent and you jointly, or by applicable governmental authority) to exceed your purchase price per share (as equitably adjusted for stock splits, etc.), the Parent will, concurrently with such determination, pay you in cash a bonus equal to the total of the applicable federal, state and local income taxes (computed at the highest individual marginal tax rates) on such excess (grossed up to cover all applicable federal, state and local income taxes on such bonus) for each such Paragraph 8 Share you so purchase. 4. In the event that the Letter Agreement or this Amendment No. 1 requires a fair market value determination pursuant to paragraph 3 of the Letter Agreement, the parties agree to proceed reasonably and in good faith to complete or obtain completion of such determination as promptly as practicable. 5. The Parent shall reimburse you for the reasonable legal fees and expenses of your counsel up to $2,000 incurred in connection with the negotiation and execution of this Amendment No. 1 to Letter Agreement. 6. This Amendment No. 1 to Letter Agreement, together with the Letter Agreement and a Stock Purchase and Pledge Agreement dated August 9, 1995 between
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you and Chemical Leaman Corporation, constitute the entire agreement among the parties with respect to the subject matter hereof, and may not be amended except by a written instrument signed by the parties hereto. If you are in agreement with the foregoing, please sign where indicated below, and return one original of your signature to the Companies for our records. Very truly yours, CHEMICAL LEAMAN CORPORATION CHEMICAL LEAMAN TANK LINES, INC. By: /s/ David R. Hamilton ------------------------------------- Title: ACCEPTED AND AGREED, THIS _____ DAY OF OCTOBER, 1995, /s/ Philip J. Ringo -------------------- Philip J. Ringo November 29, 1995

Dates Referenced Herein

Referenced-On Page
This ‘S-4’ Filing    Date First  Last      Other Filings
6/2/003None on these Dates
6/1/003
Filed on:8/5/97
11/29/954
10/31/952
8/9/953
6/2/952
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Filing Submission 0000950115-97-001174   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

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