Exhibit 10.4
AMENDMENT NO. 1
TO THE
TAX RECEIVABLE AGREEMENT
This Amendment No. 1 (this “Amendment”) to the Tax Receivable Agreement (the “Tax Receivable Agreement”), dated as of May 25, 2018, by and among EVO Payments, Inc. (the “Company”), EVO Investco, LLC (“Operating Company”) and the Members of Operating Company party thereto is entered into as of August 1, 2022, by and among the undersigned parties hereto (collectively, the “Parties”).
RECITALS
WHEREAS, the Company, the Operating Company and the Members of Operating Company are parties to the Tax Receivable Agreement;
WHEREAS, concurrently with the execution of this Amendment, the Company, Global Payments Inc., a Georgia corporation (“Parent”), and Falcon Merger Sub Inc., a Delaware corporation and a wholly-owned Subsidiary of Parent (“Merger Subsidiary”), are entering into that certain Agreement and Plan of Merger, dated as of the date hereof (the “Merger Agreement”), pursuant to which, among other things, on the terms and subject to the conditions set forth in the Merger Agreement, Merger Subsidiary will merge with and into the Company, with the Company surviving as a wholly owned subsidiary of Parent (“Merger”);
WHEREAS, concurrently with the execution of this Amendment, Blueapple, Inc. (“Blueapple”), the Company and Parent are entering into that certain Common Unit Purchase Agreement (the “CUPA”), pursuant to which, among other things, the Company, concurrently with the Merger, will acquire all of Blueapple’s Common Units in exchange for the Purchase Price (as such term is defined in the CUPA) pursuant to and in accordance with the terms of the CUPA (the “Blueapple Sale”);
WHEREAS, concurrently with the execution of this Amendment, MDCP Cardservices II LLC, Madison Dearborn Capital Partners VI-C, L.P. and MDCP Cardservices LLC (collectively, the “MDP Entities”), the Company, Parent and Merger Subsidiary are entering into that certain Voting and Support Agreement, pursuant to which, among other things, the MDP Entities will, automatically and without further action on the part of any party, exchange all of their Paired Interests (as such term is defined in that certain Exchange Agreement, dated as of May 22, 2018 by and among the Company, Operating Company and the other parties thereto (the “Exchange Agreement”)) for shares of Class A Common Stock of the Company (the “Exchange”), effective concurrently with and conditioned upon the Effective Time (as such term is defined in the Merger Agreement), following which the MDP Entities will be entitled to receive the Merger Consideration (as such term is defined in the Merger Agreement) pursuant to and in accordance with the terms of the Merger Agreement for the shares of Class A Common Stock so received;
WHEREAS, the Merger and the other transactions contemplated by the Merger Agreement constitute a Change of Control pursuant to the terms of the Tax Receivable Agreement;