Exhibit 10.2
AMENDMENT AND TERMINATION AGREEMENT
This AMENDMENT AND TERMINATION AGREEMENT, dated as of October 25, 2021 (this “Agreement”), is hereby entered into by the parties listed on the signatures pages hereto. Capitalized terms used but not defined herein shall have the meanings ascribed thereto in the Underlying Agreement (defined below).
WHEREAS, PAE Incorporated, a Delaware corporation (the “Company”) and PE Shay Holdings, LLC, a Delaware limited liability company (“Platinum”), are parties to that certain Investor Rights Agreement, dated as of February 10, 2020 (the “Underlying Agreement”);
WHEREAS, the Underlying Agreement provides that it may be amended by the Company and Platinum at any time by execution of an instrument in writing signed on behalf of each of the Company and Platinum;
WHEREAS, the Company is a party to that certain Agreement and Plan of Merger, dated as of the date hereof (as amended, restated or otherwise modified from time to time, the “Merger Agreement”), by and among Amentum Government Services Holdings LLC, a Delaware limited liability company (“Amentum”), Pinnacle Virginia Merger Sub Inc., a Delaware corporation (“Merger Sub”), and the Company; and
WHEREAS, the entry into this Agreement is a condition to the willingness of Amentum, Merger Sub, and the Company to enter into the Merger Agreement.
NOW, THEREFORE, in consideration of the mutual covenants set forth herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound hereby, the parties hereby agree as follows:
1. Amendment and Termination. Each party hereto hereby acknowledges and agrees that, effective as of the Effective Time (as defined in the Merger Agreement) (a) the Underlying Agreement shall automatically be terminated and shall no longer be of any force or effect, and (b) it shall not have any ongoing rights, liabilities or obligations under the Underlying Agreement from and after the Effective Time (as defined in the Merger Agreement); provided, however, that the indemnification provisions set forth in Section 2.9 of the Underlying Agreement shall survive such termination in accordance with the terms thereof. Each party hereto waives any rights it may have pursuant to the Underlying Agreement that in any way conflict with or otherwise prohibit or restrict the amendment and termination contemplated hereby, including any notice requirements.
2. Expiration. This Agreement shall be null and void and shall be of no force or effect if the Merger Agreement is validly terminated in accordance with its terms prior to the Effective Time.
3. Representations and Warranties. Each party hereto represents and warrants to the other party hereto that the execution and delivery of this Agreement has been duly authorized by all necessary action on the part of such party and that, assuming the due authorization and execution by the other party hereto, this Agreement constitutes a valid and binding obligation, enforceable against it in accordance with its terms.
