Exhibit 10.10E
Third Amendment of
SWWC Right of First Refusal Agreement and
SWWC Call Purchase Agreement
This Third Amendment of SWWC Right of First Refusal Agreement and SWWC Call
Purchase Agreement is made and entered into by RTNT, Inc., a Texas Corporation
("RTNT') and Southwest Water Company, Inc., a Delaware Corporation ("SWWC") to
be effective the 31st day of March 1999.
RECITALS
WHEREAS, SWWC and RTNT have previously entered into an SWWC Right of
First Refusal Agreement and SWWC Call Purchase Agreement ("SWWC Call Agreement")
which was executed as of May 23, 1996; and
WHEREAS this SWWC Call Agreement placed certain restrictions on stock in
Windermere Utility Co., Inc. ("WUC") held by RTNT; and
WHEREAS SWWC AND RTNT have previously entered into a "First Amendment of
SWWC Right of First Refusal Agreement and SWWC Call purchase Agreement" ("SWWC
First Amendment") which was effective the 22nd day of May 1998; and
WHEREAS SWWC AND RTNT have previously entered into a "Second Amendment of
SWWC Right of First Refusal Agreement and SWWC Call purchase Agreement" ("SWWC
Second Amendment") which was effective the 30th day of December 1998; and
WHEREAS this SWWC Call Agreement gave SWWC certain rights to the WUC stock
held by RTNT; and
WHEREAS the SWWC Call Agreement had certain time periods in which the
rights of RTNT were exercisable; and
WHEREAS SWWC and RTNT also entered into a "RTNT Right of First Refusal and
RTNT Call Purchase Agreement" ("SWWC Call Agreement"); and
WHEREAS SWWC AND RTNT also entered into a "First Amendment of RTNT Right of
First Refusal Agreement and SWWC Call purchase Agreement" ("RTNT First
Amendment"); and
WHEREAS SWWC AND RTNT also entered into a "Second Amendment of RTNT Right
of First Refusal Agreement and SWWC Call purchase Agreement" ("RTNT Second
Amendment"); and
WHEREAS SWWC and RTNT also entered into a "Third Amendment of RTNT Right of
First Refusal Agreement and RTNT Call Purchase Agreement ("RTNT Third
Amendment"); and
WHEREAS the parties hereto being the parties to the SWWC Call Agreement,
the SWWC First Amendment, the SWWC Second Amendment, the RTNT Call Agreement,
the
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RTNT First Amendment, the RTNT Second Amendment, and the RTNT Third Amendment,
for various reasons wish to extend all the time periods for the exercise of the
various rights of SWWC under the SWWC Call Agreement; and
NOW, THEREFORE, for and in consideration of the premises and the mutual
covenants and ten dollars ($10.00) and other good and valuable consideration
hereinafter set forth and for other good and valuable consideration including
but not limited to the promises of the parties, the parties hereby agree as
follows:
1. The first sentence of Paragraph 1 of the SWWC RTNT Call Agreement which is
entitled "Restriction on RTNT Stock" shall be amended to read as follows:
"RTNT shall not sell, transfer, assign, or otherwise dispose of the RTNT
WUC stock or any portion thereof to any person or entity for period ending
three hundred sixty (360) days after September 30, 1999."
2. The provisions of Paragraph 2 of the SWWC Call Agreement which is entitled
"Call by SWWC," specifically, the first sentence of Paragraph 2 of the SWWC Call
Agreement shall be amended to read as follows:
SWWC shall have, for a period beginning on the day after March 31, 1999 and
ending three hundred sixty (360) days after September 30, 1999, the right
to require RTNT to sell all of the RTNT WUC stock it owns in WUC at that
time."
3. Paragraph 3 of the SWWC Call Agreement which is entitled "Offer to RTNT"
shall be amended by amending the first sentence to read as follows:
"RTNT shall, after such three hundred sixty (360) days following the third
anniversary hereof, not sell, transfer, assign, or otherwise dispose of the
RTNT WUC Stock or any portion thereof to any person and/or entity except as
provided herein."
4. The first sentence of Paragraph 4 of the SWWC Call Agreement entitled "RTNT
Call Agreement: shall be amended as follows:
"The provisions of Paragraphs 1, 2, and 3 above have no further effect if
prior to September 30, 1999, exercises its right to call upon SWWC to sell
all of its stock in WUC pursuant to the RTNT Right of First Refusal
Agreement and RTNT Call Purchase Agreement of even date herewith and closes
and funds said purchase."
5. The SWWC Call Agreement, the RTNT Call Agreement, the SWWC First Amendment,
the SWWC Second Amendment, the RTNT First Amendment, the Second Amendment the
Third Amendment to SWWC Right of First Refusal Agreement and SWWC Call Purchase
Agreement, the Third Amendment to RTNT Right of first Refusal Agreement and RTNT
Call Purchase Agreement, and the Equity Agreement and the documents referred to
therein, (a) constitute the entire agreement among the parties and supercede all
prior agreements and understanding, both written and oral, among the parties
with respect to the subject matter hereof, (b) may be executed in several
counterparts, each of which shall constitute one and the same instrument, (c)
except as expressly set forth herein, shall inure to the benefit of, and be
binding upon, the successors, assigns. legal representatives, administrators,
and heirs of each party and are not intended to confer upon any person other
than the parties and their successors assigns, legal representatives,
administrators, and heirs any rights or remedies
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hereunder, and (d) shall be governed in all respects. including validity,
interpretation, and effect by the laws of the state of Texas. The captions in
this First Amendment to SWWC Right of First Refusal Agreement and SWWC Call
Purchase Agreement are for convenience of reference only and shall not affect
its interpretation in any respect.
6. Any notice consent or communication required or permitted to be given under
this First Amendment to SWWC Right of First Refusal Agreement and SWWC Call
Purchase Agreement must be in writing and delivered to a person or by confirmed
facsimile or by registered mail, return receipt requested, postage prepaid
addressee restricted as follows:
To: RTNT, Inc.,
P.O. Box 161173
Austin Texas 78716
(tel.) 512-327-0869
(fax) 512-327-0869
To: Southwest Water Company
225 North Barranca Avenue Suite 200
West Covina California 91791-1605
(tel.) 626-915 1551
(fax) 626-915-1558
ANY SUCH NOTICE CONSENT OR OTHER COMMUNICATION SHALL BE DEEMED GIVEN WHEN
DELIVERED IN PERSON OR SENT BY CONFIRMED FACSIMILE OR IF MAILED, FIVE (5) DAYS
AFTER MAILING.
6. Any provision of this Third Amendment to SWWC Right of First Refusal
Agreement and SWWC Call Purchase Agreement which is prohibited or unenforceable
in any jurisdiction as to such jurisdiction be ineffective to the extent of such
prohibition or unenforceability without invalidating the remaining provisions of
this Third Amendment to SWWC Right of First Refusal Agreement and SWWC Call
Purchase Agreement and any such prohibition or unenforceability in any
jurisdiction shall not invalidate or render unenforceable such provision in any
other jurisdiction.
7. This Third Amendment to SWWC Right of First Refusal Agreement and SWWC
Call Purchase Agreement shall be subject to the RTNT and SWWC Arbitration
Agreement dated to be effective the 23rd of May 1996.
8. This Third Amendment to SWWC Right of First Refusal Agreement and SWWC
Call Purchase Agreement shall be binding upon and inure to the benefit of SWWC
and RTNT and their respective successors, representatives and assigns.
9. For purposes hereof, a facsimile copy of this Third Amendment of SWWC
Right of First Refusal and SWWC Call Purchase Agreement including the signature
pages hereto, shall be deemed to be an original. Notwithstanding the forgoing,
the parties shall deliver original execution copies of this Second Amendment of
SWWC Right of First Refusal and SWWC Call Purchase Agreement to one another
immediately after execution.
Executed as of the 30th day of March 1999, to be effective the 31st day of March
1999.
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RTNT, INC., a Texas Corporation
By: /s/ Thom W. Farrell
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THOM W. FARRELL, PRESIDENT
SOUTHWEST WATER COMPANY
By: /s/ Anton C. Garnier
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ANTON C. GARNIER, PRESIDENT
ATTEST:
/s/ Peter J. Moerbeek
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PETER MOERBEEK, VICE PRESIDENT
AND SECRETARY
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