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EXHIBIT 2.2
FIRST AMENDMENT TO STOCK PURCHASE AGREEMENT
FIRST AMENDMENT (the "First Amendment") dated as of August 25, 1998 by
and among Xxxxx Advertising Company, a Delaware corporation ("Buyer"), Outdoor
Communications, Inc., a Delaware corporation (the "Company"), and each of the
stockholders of the Company (the "Stockholders").
WHEREAS Buyer, the Company and each of the Stockholders are parties to
that certain Stock Purchase Agreement dated as of August 10, 1998 (the
"Agreement") pursuant to which each of the Stockholders has agreed to sell to
Buyer, and Buyer has agreed to purchase, all of the Company Securities held by
such Stockholder; and
WHEREAS Buyer, the Company and the Stockholders desire to amend
Exhibit A to the Agreement in accordance with the provisions of Section 11.7 of
the Agreement to provide the correct the number of shares of Series A Preferred
Stock of the Company held by certain Stockholders listed on such Exhibit A.
NOW, THEREFORE, for good and valuable consideration, the undersigned
hereby agree as follows:
1. Capitalized terms not otherwise defined herein shall have the
meanings ascribed to such terms in the Agreement.
2. The Agreement is hereby amended, as of the effective date of
this First Amendment, by deleting Exhibit A thereto in its entirety and
substituting therefor Exhibit A attached hereto.
3. Section 3.3(iii) of the Agreement is hereby amended, as of the
effective date of this First Amendment by deleting the number "186,130.52"
therefrom and substituting therefor "186,220.93".
4. The effective date of this Amendment shall be the date first
set forth above.
5. As amended by this First Amendment, the Agreement is in all
respects ratified and confirmed, and as so amended by this First Amendment, the
Agreement shall be read, taken and construed as one and the same instrument.
6. This Amendment may be executed in any number of counterparts
and by the parties hereto in separate counterparts, each of which so executed
shall be deemed to be an original, but all of such counterparts shall together
constitute but one and the same instrument.
7. This Amendment shall be governed in accordance with the laws
of the State of Delaware without regard to principles of conflicts of law.
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IN WITNESS WHEREOF the parties hereto have caused this First Amendment
to be executed as of the date set forth above by their duly authorized
representatives.
BUYER:
XXXXX ADVERTISING COMPANY
By: /s/ Xxxxx X. Xxxxx
-----------------------------------
Title: Chief Financial Officer
COMPANY:
OUTDOOR COMMUNICATIONS, INC.
By: /s/ Xxxx X Xxxxxxx XX
-----------------------------------
Xxxx X Xxxxxxx XX, Chairman
STOCKHOLDERS:
By: /s/ Xxxx X Xxxxxxx XX
-----------------------------------
Xxxx X Xxxxxxx XX, on behalf of
each of the Stockholders, in his
capacity as a Stockholders'
Representative
By: /s/ Xxxxxxx X. Xxxxxxx
-----------------------------------
Xxxxxxx X. Xxxxxxx, on behalf of
each of the Stockholders, in his
capacity as a Stockholders'
Representative
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EXHIBIT A
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Shares of Shares of Shares of
Name and Address of Class A Class B Series A Preferred Option Pro Rata Indemnification Cap
Stockholder Common Common Preferred LLC Interests Shares Share Amount
Stock5 Stock Stock
-----------------------------------------------------------------------------------------------------------------------------------
Media/Communications II 3,227.67 2,017.29 104,990.98 , , 41.2080452% $ 4,120,804.52
Limited Partnership
c/o Media/Communications
Partners
00 Xxxxx Xxxxxx
Xxxxxx, XX 00000
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Chase Venture Capital 2,048.57 1,587.94 72,793.75 , , 28.5709459% $ 2,857,094.59
Associates, L.P.
c/o Chase Capital Partners
000 Xxxxxxx Xxxxxx
00xx Xxxxx
Xxx Xxxx, XX 00000
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Xxxx X Xxxxxxx XX 1092.16 , , 2,388,127.71 212 10.2463859% $ 1,024,638.59
0000 Xxxxxx Xxxx
Xxxxxxx, XX 00000
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X.X. Xxxxxx 938 , , 2,082,385.76 120 8.3123821% $ 831,238.21
0000 Xxxxxx Xxxx
Xxxxxxx, XX 00000
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Shares of Shares of Shares of
Name and Address of Class A Class B Series A Preferred Option Pro Rata Indemnification Cap
Stockholder Common Common Preferred LLC Interests Shares Share Amount
Stock5 Stock Stock
-----------------------------------------------------------------------------------------------------------------------------------
Media/Communications 134.49 84.05 4,374.63 , , 1.7170019% $ 171,700.19
Investors Limited
Partnership
c/o Media/Communications
Partners
00 Xxxxx Xxxxxx
Xxxxxx, XX 00000
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The JCS Trust 98.19 , , 194,737.40 , 0.7714488% $ 77,144.88
c/o Xxxx X Xxxxxxx XX,
Trustee
0000 Xxxxxx Xxxx
Xxxxxxx, XX 00000
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JCS Trust No. 2 56 , , , , 0.4399749% $ 43,997.49
c/o Lenoir X. Xxxxxxx,
Trustee
0000 Xxxxxx Xxxx
Xxxxxxx, XX 00000
or
c/o Xxxxxxxxx X. Xxxxxx,
Trustee
000 Xxxxxxx Xxxx
Xxxxxxx, XX 00000
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The LWS Trust 98.19 , , 194,737.40 , 0.7714488% $ 77,144.88
c/o Lenoir X. Xxxxxxx,
Trustee
0000 Xxxxxx Xxxx
Xxxxxxx, XX 00000
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Shares of Shares of Shares of
Name and Address of Class A Class B Series A Preferred Option Pro Rata Indemnification Cap
Stockholder Common Common Preferred LLC Interests Shares Share Amount
Stock5 Stock Stock
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LWS Trust No. 2 56 , , , , 0.4399749% $ 43,997.49
c/o Xxxx X Xxxxxxx XX,
Trustee
0000 Xxxxxx Xxxx
Xxxxxxx, XX 00000
or
c/o Xxxxxxxxx X. Xxxxxx,
Trustee
000 Xxxxxxx Xxxx
Xxxxxxx, XX 00000
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Xxxxxxxxx X. Xxxxxx 87.50 , , 173,532.17 , 0.6874607% $ 68,746.07
000 Xxxxxxx Xxxx
Xxxxxxx, XX 00000
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Xxxxxxx Xxxx Xxxxx 87.50 , , 173,532.17 , 0.6874607% $ 68,746.07
0000 Xxxx Xxxxxxx Xxxxx
Xxxxxxx, XX 00000
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Xxxxxxx X. Xxxxxx, Xx. 87.50 , , 173,532.17 , 0.6874607% $ 68,746.07
00 Xxxxx Xxxx Xxxx
Xxxxxxx, XX 00000
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G. Xxxxxx Xxxxxx 68.50 , 1,018.24 , 40 0.8524513% $ 85,245.13
0000 Xxxxxxxxx Xxxxxx
Xxxxxxx, XX 00000
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Xxxxxx X. Xxxxx 52.50 , 1,018.24 , 40 0.7267442% $ 72,674.42
0000 Xxxxxx Xxxxx Xxxx
Xxxxxxx, XX 00000
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Shares of Shares of Shares of
Name and Address of Class A Class B Series A Preferred Option Pro Rata Indemnification Cap
Stockholder Common Common Preferred LLC Interests Shares Share Amount
Stock5 Stock Stock
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Xxxxxx Xxxxxx 79.95 , 1,030.31 103,031.12 , 0.6281427% $ 62,814.27
000 X. Xxxxxx Xxxxxx
Xxxxxxx, XX 00000
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Xxxx X. Xxxxxxxx 35.00 , 665.48 , 40 0.5892520% $ 58,925.20
0000 Xxxxxxxxxx
Xxxxxxxx Xxxx, XX 00000
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Xxxx Xxxxxxx 35.00 , 665.48 , 40 0.5892520% $ 58,925.20
000 X. 00xx Xxxxxx
Xxxxxxxxxx, XX 00000
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Xxxxx X. Xxxxxx 00.00 , , , 00 0.8249529% $ 82,495.29
0000 Xxxxxxx Xxxx
Xxxxxxx, XX 00000
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Xxxxxxx Xxxxxxxx 35.00 , 694.13 , 40 0.5892520% $ 58,925.20
0000 Xxxxxxxxx
Xxxxxxxx Xxxx, XX 00000
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Xxxxxx X. Xxxxxx 28 , , , , 0.2199874% $ 21,998.74
0000 Xxxxxxx Xxxxx
Xxxxxxxxxx, XX 00000
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Xxxx Xxxxxx 28 , , , , 0.2199874% $ 21,998.74
0000 Xxxxxxx Xxxxx
Xxxxxxxxx, XX 00000
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Xxxxx X. Xxxxxx 00 , , , , 0.2199874% $ 21,998.74
X.X. Xxx 000
Xxxxxxxxxx, XX 00000
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