MANAGEMENT SHAREHOLDER AGREEMENTManagement Shareholder Agreement • March 4th, 2016 • TRAC Intermodal LLC • Truck trailers • New York
This Management Shareholder Agreement, dated as of June 1, 2015 (this “Agreement”), is entered into by and between Interpool, Inc., d/b/a TRAC Intermodal, a Delaware corporation (the “Company”), SCT Chassis Inc., a Marshall Islands corporation (“SCT Chassis”), and MARK MICHAELS (the “Management Investor”).
August 17, 2015 [Name] TRAC Intermodal Princeton, NJ 08540 Re: Transaction Bonus Dear [Name]:TRAC Intermodal LLC • March 4th, 2016 • Truck trailers
As you know, Fortress has decided to pursue an outright sale of TRAC Intermodal (the “Company”) rather than pursuing an IPO. In recognition of your past and continuing contributions to the success of the Company, I am pleased to provide you with a transaction bonus as part of the sale process. This letter agreement (“Letter Agreement”) sets forth the mutual understanding between you and the Company regarding the payment(s) you will receive in the event that the Company closes the Transaction (defined below). Your contributions to the Company’s success are highly valued and I look forward to having you as an active member of our senior team as we continue to evolve and grow the Company in the future.
