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Advantage Solutions Inc. – ‘10-K’ for 12/31/22 – ‘EX-10’

On:  Wednesday, 3/1/23, at 4:09pm ET   ·   For:  12/31/22   ·   Accession #:  950170-23-5522   ·   File #:  1-38990

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

 3/01/23  Advantage Solutions Inc.          10-K       12/31/22  120:25M                                    Donnelley … Solutions/FA

Annual Report   —   Form 10-K

Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                       HTML   6.58M 
 2: EX-10       Ex-10.19                                            HTML     45K 
 3: EX-14       Ex-14.1                                             HTML    214K 
 4: EX-21       Ex-21.1                                             HTML    113K 
 5: EX-23       Ex-23.1                                             HTML     34K 
 6: EX-31       Ex-31.1                                             HTML     40K 
 7: EX-31       Ex-31.2                                             HTML     40K 
 8: EX-32       Ex-32.1                                             HTML     37K 
 9: EX-32       Ex-32.2                                             HTML     37K 
15: R1          Cover Page                                          HTML    108K 
16: R2          Consolidated Balance Sheets                         HTML    164K 
17: R3          Consolidated Balance Sheets (Parenthetical)         HTML     54K 
18: R4          Consolidated Statements of Operations and           HTML    129K 
                Comprehensive (Loss) Income                                      
19: R5          Consolidated Statements of Stockholders' Equity     HTML    124K 
20: R6          Consolidated Statements of Cash Flows               HTML    167K 
21: R7          Organization and Significant Accounting Policies    HTML    270K 
22: R8          Acquisitions                                        HTML    246K 
23: R9          Goodwill and Intangible Assets                      HTML    293K 
24: R10         Prepaid and Other Assets                            HTML    102K 
25: R11         Property and Equipment                              HTML     76K 
26: R12         Other Liabilities                                   HTML    162K 
27: R13         Debt                                                HTML    162K 
28: R14         Leases                                              HTML    135K 
29: R15         Fair Value of Financial Instruments                 HTML    229K 
30: R16         Investments                                         HTML     44K 
31: R17         Stock-Based Compensation and Other Benefit Plans    HTML    321K 
32: R18         Equity                                              HTML     68K 
33: R19         Earnings Per Share                                  HTML    149K 
34: R20         Related Party Transactions                          HTML     55K 
35: R21         Income Taxes                                        HTML    345K 
36: R22         Segments and Geographic Information                 HTML    160K 
37: R23         Redeemable Noncontrolling Interest                  HTML     67K 
38: R24         Commitments and Contingencies                       HTML     51K 
39: R25         Subsequent Events                                   HTML     39K 
40: R26         Schedule I - Condensed Parent Only Financial        HTML    238K 
                Information of Advantage Solutions Inc.                          
41: R27         Organization and Significant Accounting Policies    HTML    301K 
                (Policies)                                                       
42: R28         Organization and Significant Accounting Policies    HTML    120K 
                (Tables)                                                         
43: R29         Acquisitions and Dispositions (Tables)              HTML    225K 
44: R30         Goodwill and Intangible Assets (Tables)             HTML    286K 
45: R31         Prepaid and Other Assets (Tables)                   HTML    102K 
46: R32         Property and Equipment (Tables)                     HTML     71K 
47: R33         Other Liabilities (Tables)                          HTML    154K 
48: R34         Debt (Tables)                                       HTML     91K 
49: R35         Leases (Tables)                                     HTML    126K 
50: R36         Fair Value of Financial Instruments (Tables)        HTML    213K 
51: R37         Earnings Per Share (Tables)                         HTML    136K 
52: R38         Stock-Based Compensation and Other Benefit Plans    HTML    266K 
                (Tables)                                                         
53: R39         Income Tax (Tables)                                 HTML    336K 
54: R40         Segments and Geographic Information (Tables)        HTML    154K 
55: R41         Redeemable Noncontrolling Interest (Tables)         HTML     60K 
56: R42         Organization and Significant Accounting Policies -  HTML    154K 
                Additional Information (Details)                                 
57: R43         Organization and Significant Accounting Policies -  HTML     43K 
                Cash And Cash Equivalents (Details)                              
58: R44         Organization and Significant Accounting Policies -  HTML     48K 
                Property Plant And Equipment Useful Lives                        
                (Details)                                                        
59: R45         Organization and Significant Accounting Policies -  HTML     35K 
                Property Plant And Equipment Useful Lives                        
                (Parenthetical) (Details)                                        
60: R46         Organization and Significant Accounting Policies -  HTML     52K 
                Disaggregation Of Revenue (Details)                              
61: R47         Acquisitions and Dispositions - Schedule of Fair    HTML    117K 
                Values of Identifiable Assets and Liabilities of                 
                Acquisitions (Details)                                           
62: R48         Acquisitions and Dispositions - Schedule of         HTML     38K 
                Supplemental Information on an Unaudited Pro Forma               
                Basis (Details)                                                  
63: R49         Acquisitions and Dispositions - Additional          HTML     69K 
                Information (Details)                                            
64: R50         Goodwill and Intangible Assets - Additional         HTML     56K 
                Information (Details)                                            
65: R51         Goodwill and Intangible Assets - Schedule of        HTML     62K 
                changes in goodwill (Details)                                    
66: R52         Goodwill and Intangible Assets - Schedule of        HTML     70K 
                intangible assets (Details)                                      
67: R53         Goodwill and Intangible Assets - Schedule of        HTML     49K 
                estimated future amortization expenses (Details)                 
68: R54         Prepaid Expenses and Other Assets - Schedule of     HTML     50K 
                prepaid and other current assets (Details)                       
69: R55         Prepaid and Other Assets - Schedule of other        HTML     46K 
                Noncurrent assets (Details)                                      
70: R56         Property and Equipment - Schedule of property and   HTML     50K 
                equipment (Details)                                              
71: R57         Property and Equipment - Additional Information     HTML     37K 
                (Details)                                                        
72: R58         Other Liabilities - Schedule of Other Accrued       HTML     56K 
                Expenses (Details)                                               
73: R59         Other Liabilities - Schedule of Other Long Term     HTML     43K 
                Liabilities (Details)                                            
74: R60         Other Liabilities - Additional Information          HTML     69K 
                (Details)                                                        
75: R61         Other Liabilities - Summary of the Changes in the   HTML     44K 
                Carrying Value of the Contingent Consideration                   
                Liabilities (Details)                                            
76: R62         Debt - Summary of Long term Debt, Net of Current    HTML     50K 
                Portion (Details)                                                
77: R63         Debt - Additional Information (Details)             HTML    194K 
78: R64         Debt - Summary of Future Minimum Principal          HTML     54K 
                Payments on Long-term Debt (Details)                             
79: R65         Leases - Additional Information (Details)           HTML     43K 
80: R66         Leases - Schedule of Present Value of Lease         HTML     55K 
                Payments for Remaining Lease Term (Details)                      
81: R67         Leases - Schedule of Right-of-use Assets and        HTML     42K 
                Related Lease Liabilities (Details)                              
82: R68         Leases - Schedule of Maturities of lease            HTML     52K 
                liabilities (Details)                                            
83: R69         Fair Value of Financial Instruments - Additional    HTML     64K 
                Information (Details)                                            
84: R70         Fair Value of Financial Instruments - Summary of    HTML     70K 
                Financial Assets and Liabilities Measured on                     
                Recurring Basis (Details)                                        
85: R71         Fair Value of Financial Instruments - Summary of    HTML     55K 
                Financial Liabilities Measured on Recurring Basis                
                (Details)                                                        
86: R72         Investments - Additional Information (Details)      HTML     58K 
87: R73         Stock-Based Compensation and Other Benefit Plans -  HTML    137K 
                Additional Information (Details)                                 
88: R74         Stock-Based Compensation and Other Benefit Plans -  HTML     48K 
                Summary of performance restricted stock units                    
                (Details)                                                        
89: R75         Stock-Based Compensation and Other Benefit Plans -  HTML     59K 
                Summary of PSU Activity (Details)                                
90: R76         Stock-Based Compensation - Summary Of Stock Option  HTML     55K 
                Plan Activity (Details)                                          
91: R77         Stock-Based Compensation and Other Benefit Plans -  HTML     53K 
                Schedule Of Weighted Average Assumptions (Details)               
92: R78         Stock-Based Compensation and Other Benefit Plans -  HTML     40K 
                Share-based Compensation, Activity (Details)                     
93: R79         Stock-Based Compensation and Other Benefit Plans -  HTML     50K 
                Schedule of Assumptions Used (Details)                           
94: R80         Stock-Based Compensation and Other Benefit Plans -  HTML     50K 
                Summary of Stock Option Under the plan (Details)                 
95: R81         Stock-Based Compensation - Schedule Of Assumption   HTML     46K 
                Used To Determine Fair Value (Details)                           
96: R82         Equity - Additional Information (Details)           HTML     91K 
97: R83         Earnings Per Share - Summary of Reconciliation of   HTML     73K 
                Basic and Diluted Net Earnings Per Common Share                  
                (Details)                                                        
98: R84         Earnings Per Share - Additional Information         HTML     62K 
                (Details)                                                        
99: R85         Related Party Transactions - Additional             HTML     99K 
                Information (Details)                                            
100: R86         Income Tax - Schedule of Components of (Benefit     HTML     62K  
                from) Provision for Income Taxes (Details)                       
101: R87         Income Tax - Schedule of Reconciliation of          HTML     61K  
                Company's Effective Income Taxes Rates (Details)                 
102: R88         Income Tax - Schedule of Geographic Components of   HTML     40K  
                Income (loss) Before Income Taxes (Details)                      
103: R89         Income Tax - Schedule of Net Deferred Tax           HTML     84K  
                Liabilities (Details)                                            
104: R90         Income Tax - Additional Information (Details)       HTML     65K  
105: R91         Segments and Geographic Information - Summary Of    HTML     51K  
                Revenue And Operating Income (Details)                           
106: R92         Segments and Geographic Information - Summary of    HTML     49K  
                Revenues and Long-lived Assets by Services                       
                Provided in Geographic Region (Details)                          
107: R93         Segments and Geographic Information - Additional    HTML     43K  
                Information (Details)                                            
108: R94         Redeemable Noncontrolling Interest - Additional     HTML     54K  
                Information (Details)                                            
109: R95         Redeemable Noncontrolling Interest - Summary Of     HTML     46K  
                Redeemable Noncontrolling Interest (Details)                     
110: R96         Commitments and Contingencies - Additional          HTML     42K  
                Information (Details)                                            
111: R97         Subsequent Events - Additional Information          HTML     47K  
                (Details)                                                        
112: R98         Schedule I - Condensed Parent Only Financial        HTML    108K  
                Information - Condensed Balance Sheets (Details)                 
113: R99         Schedule I - Condensed Parent Only Financial        HTML     45K  
                Information - Condensed Balance Sheets                           
                (Parenthetical) (Details)                                        
114: R100        Schedule I - Condensed Parent Only Financial        HTML    110K  
                Information - Condensed Statements of Operations                 
                (Details)                                                        
115: R101        Schedule I - Condensed Parent Only Financial        HTML     46K  
                Information - Additional Information (Details)                   
118: XML         IDEA XML File -- Filing Summary                      XML    226K  
116: XML         XBRL Instance -- adv-20221231_htm                    XML   6.33M  
117: EXCEL       IDEA Workbook of Financial Reports                  XLSX    268K  
12: EX-101.CAL  XBRL Calculations -- adv-20221231_cal                XML    308K 
14: EX-101.DEF  XBRL Definitions -- adv-20221231_def                 XML   1.69M 
11: EX-101.LAB  XBRL Labels -- adv-20221231_lab                      XML   2.56M 
10: EX-101.PRE  XBRL Presentations -- adv-20221231_pre               XML   2.14M 
13: EX-101.SCH  XBRL Schema -- adv-20221231                          XSD    387K 
119: JSON        XBRL Instance as JSON Data -- MetaLinks              758±  1.28M  
120: ZIP         XBRL Zipped Folder -- 0000950170-23-005522-xbrl      Zip    864K  


‘EX-10’   —   Ex-10.19


This Exhibit is an HTML Document rendered as filed.  [ Alternative Formats ]



  EX-10  

Execution Version

 

FIRST AMENDMENT TO

EIGHTH AMENDED AND RESTATED LIMITED PARTNERSHIP AGREEMENT

OF KARMAN TOPCO L.P.

 

This First Amendment to the Eighth Amended and Restated Limited Partnership Agreement of Karman Topco L.P. (this “Amendment”) is made as of October 27, 2022 by Karman GP LLC, a Delaware limited liability company (the “General Partner”). The defined terms used herein shall have the same meaning as defined in the LP Agreement (as defined below) unless otherwise stated herein.

 

WITNESSETH:

 

WHEREAS, the General Partner and the Limited Partners entered into that certain Eighth Amended and Restated Limited Partnership Agreement of Karman Topco L.P., a Delaware limited partnership (the “Partnership”), dated as of September 7, 2020, as amended (the “LP Agreement”); and

 

WHEREAS, the General Partner desires to amend the terms of the LP Agreement as provided below.

 

NOW, THEREFORE, in consideration of the mutual covenants and agreements set forth in this Amendment, in consideration of other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound hereby, the parties hereby covenant and agree as follows:

1.
A new Section 3.1(e)(iv) is hereby added to the LPA as follows:

“(e) Common Series C-2 Unit Award Documentation. Notwithstanding anything else in this Agreement to the contrary, the terms of this Section 3.1(e) (including any definition or other provision of this Agreement that is referenced in this Section 3.1(e) or which otherwise gives effect to the provisions of this Section 3.1(e)) in respect of any Common Series C-2 Limited Partner will be subject to the provisions of any Restricted Unit Agreement or other agreement between the Partnership and such Common Series C-2 Limited Partner with respect to the Common Series C-2 Units held by such Common Series C-2 Limited Partner.”

2.
Section 11.1(b) of the LPA is hereby amended by deleting each of the references to “Common Series C-2 Units”, “Common Series C-2 Limited Partner” and “Common Series C-2 Limited Partners” set forth therein.
3.
Except insofar as reference to the contrary is made in any such instrument, all references to the LP Agreement in any future correspondence or notice shall be deemed to refer to the LP Agreement as modified by this Amendment.
4.
Except as expressly modified or amended by this Amendment, all of the terms, covenants and conditions of the LP Agreement are hereby ratified and confirmed.

5.
This Amendment may be signed in any number of counterparts, each of which shall be deemed to be an original, with the same effect as if the signatures thereto and hereto were on the same instrument.
6.
This Amendment shall be governed by and construed in accordance with the laws of the State of Delaware, without regard to principles of conflicts of laws.
7.
This Amendment may be executed in multiple counterparts, any one of which need not contain the signature of more than one party, but all such counterparts taken together shall constitute one and the same instrument. All counterparts shall be construed together and shall constitute one and the same instrument. A signature delivered by facsimile transmission or telecopy, by electronic mail in portable document format (.pdf) or any electronic signature complying with the U.S. federal ESIGN Act of 2000 (e.g., www.docusign.com) shall be deemed to be an original signature for all purposes under this Amendment. The parties irrevocably and unreservedly agree that this Amendment may be executed by way of electronic signatures and the parties agree that this Amendment, or any part thereof, shall not be challenged or denied any legal effect, validity and/or enforceability solely on the ground that it is in the form of an electronic record.

 

[Remainder of page intentionally left blank.]

 

 

 

 

 

 

 

 

 


IN WITNESS WHEREOF, the parties have executed and delivered this Amendment as of the date first above written.

 

GENERAL PARTNER:

 

KARMAN GP LLC

 

 

 

 

By:

/s/ Cameron E.H. Breitner

 

 

 

Name: Cameron E.H. Breitner

Title: Co-President

 

 

 

 

By:

 

 

/s/ Timothy J. Flynn

 

 

 

Name: Timothy J. Flynn

Title: Co-President

 

 

 

 



Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-K’ Filing    Date    Other Filings
Filed on:3/1/238-K
For Period end:12/31/22
10/27/22
9/7/20
 List all Filings 


2 Subsequent Filings that Reference this Filing

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

 3/01/24  Advantage Solutions Inc.          10-K       12/31/23  123:21M                                    Donnelley … Solutions/FA
 5/10/23  Advantage Solutions Inc.          S-8         5/10/23    9:968K                                   Donnelley … Solutions/FA


12 Previous Filings that this Filing References

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

 1/18/23  Advantage Solutions Inc.          8-K:5,7,9   1/16/23   14:434K                                   Donnelley … Solutions/FA
12/06/22  Advantage Solutions Inc.          8-K:1,2,7,912/02/22   13:5.8M                                   Shearman & Sterling LLP
10/04/22  Advantage Solutions Inc.          8-K:5,9     9/30/22   12:387K                                   Shearman & Sterling LLP
 3/01/22  Advantage Solutions Inc.          8-K:2,5,7,9 3/01/22   17:2.5M                                   Shearman & Sterling LLP
10/29/21  Advantage Solutions Inc.          8-K:1,2,9  10/28/21   13:2.2M                                   Shearman & Sterling LLP
 5/28/21  Advantage Solutions Inc.          8-K:5,9     5/26/21   12:355K                                   Shearman & Sterling LLP
 4/19/21  Advantage Solutions Inc.          8-K:5,8,9   4/13/21   12:439K                                   Shearman & Sterling LLP
 3/16/21  Advantage Solutions Inc.          10-K       12/31/20  113:12M                                    Donnelley … Solutions/FA
 1/06/21  Advantage Solutions Inc.          8-K:5,8,9   1/04/21   15:475K                                   Shearman & Sterling LLP
11/03/20  Advantage Solutions Inc.          8-K:1,2,3,510/28/20   28:6.9M                                   Donnelley … Solutions/FA
 9/08/20  Advantage Solutions Inc.          8-K:1,3,7,9 9/08/20   10:10M                                    Donnelley … Solutions/FA
 7/23/19  Advantage Solutions Inc.          8-K:1,3,5,9 7/17/19    9:960K                                   EdgarAgents LLC/FA
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