AMENDMENT NO. 6 to the AMENDED AND RESTATED OPERATING AGREEMENT

Contract Categories: Business Operations - Operating Agreements
EX-10.3 4 c94239exv10w3.htm EXHIBIT 10.3 Exhibit 10.3
Exhibit 10.3
AMENDMENT NO. 6
to the
AMENDED AND RESTATED OPERATING AGREEMENT
of
AMERICAN PROCESSING COMPANY, LLC
THIS AMENDMENT NO. 6 (this “Amendment”) to that certain Amended and Restated Operating Agreement, dated as of March 14, 2006, as amended by that certain Amendment No. 1 to the Amended and Restated Operating Agreement, dated as of January 9, 2007, that certain Amendment No. 2 to the Amended and Restated Operating Agreement, dated as of November 30, 2007, that certain Amendment No. 3 to the Amended and Restated Operating Agreement, dated as of February 28, 2008, that certain Amendment No. 4 to the Amended and Restated Operating Agreement, dated as of August 15, 2008, and that certain Amendment No. 5 to the Amended and Restated Operating Agreement, dated as of July 1, 2009 (the “Operating Agreement”), of American Processing Company, LLC, a Michigan limited liability company (the “Company”), is made and entered into to be effective for all purposes as of December 1, 2009, by and among the Company, the Manager and the Members listed on the signature pages hereto. Capitalized terms used but not otherwise defined herein shall have meanings specified in the Operating Agreement.
RECITALS
A. On December 1, 2009, APC Investments, LLC transferred all of its 104,905 Common Units, representing a 7.57% membership interest in the Company, as follows:
         
Assignee   No. of Common Units  
David A. Trott
    71,337  
         
Ellen Coon, Trustee of the Ellen Coon Living Trust u/a/t 9/9/98
    15,735  
         
Marcy J. Ford, Trustee of the Marcy Ford Revocable
Trust u/a/d 7/12/04
    15,735  
         
William D. Meagher, Trustee of the William D. Meagher Trust u/a/d 8/24/07
    1,049  
         
Jeanne M. Kivi, Trustee of the Jeanne M. Kivi Trust u/a/d 8/24/07
    1,049  
Upon the consummation of such transfer (the “APCI Transfer”), each of the assignees identified above became a Substituted Member of the Company.
B. Pursuant to Section 10.4 of the Operating Agreement, the Manager and a Supermajority-in-Interest of the Members have agreed to amend the terms of the Operating Agreement to reflect the APCI Transfer and the admission of each of the assignees as a Substituted Member of the Company.

 

 


 

AGREEMENT
1. AMENDMENTS
1.1 The definition of “Trott & Trott” in Article I of the Operating Agreement is hereby amended and restated in its entirety as follows:
Trott & Trott” means Ellen Coon, Trustee of the Ellen Coon Living Trust u/a/t 9/9/98; Marcy J. Ford, Trustee of the Marcy Ford Revocable Trust u/a/d 7/12/04; Jeanne M. Kivi, Trustee of the Jeanne M. Kivi Trust u/a/d 8/24/07; William D. Meagher, Trustee of the William D. Meagher Trust u/a/d 8/24/07 and David A. Trott.
1.2 Exhibit A of the Operating Agreement is hereby replaced with Exhibit A attached hereto.
2. REFERENCE TO AND EFFECT ON THE OPERATING AGREEMENT
2.1 Each reference in the Operating Agreement to “this Agreement”, “hereunder”, “hereof”, “herein”, or words of like import shall mean and be a reference to the Operating Agreement as amended hereby.
2.2 Except as specifically amended above, the Operating Agreement shall remain in full force and effect and is hereby ratified and confirmed.
3. MISCELLANEOUS
3.1 This Amendment may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed and delivered shall be deemed to be an original and all of which taken together shall constitute one and the same instrument. In accordance with the Operating Agreement, this Amendment shall be effective upon execution by the Company, the Manager and a Supermajority-in-Interest of the Members. This Amendment, to the extent signed and delivered by means of a facsimile machine or other electronic transmission (including transmission in portable document format by electronic mail), shall be treated in all manner and respects and for all purposes as an original agreement and shall be considered to have the same binding legal effect as if it were the original signed version thereof delivered in person. At the request of any party hereto, each other party hereto shall re-execute original forms hereof and deliver them to all other parties, except that the failure of any party to comply with such a request shall not render this Amendment invalid or unenforceable. No party hereto shall raise the use of a facsimile machine or other electronic transmission to deliver a signature, or the fact that any signature was transmitted or communicated through the use of a facsimile machine or other electronic transmission, as a defense to the formation or enforceability of a contract and each such party forever waives any such defense.
3.2 Section headings in this Amendment are included herein for convenience of reference only and shall not constitute a part of this Amendment for any other purpose.
3.3 Each party shall do and perform, or cause to be done and performed, all such further acts and things, and shall execute and deliver all such other agreements, certificates, instruments and documents, as the other party may reasonably request in order to carry out the intent and accomplish the purposes of this Amendment and the consummation of the transactions contemplated hereby.
3.4 The language used in this Amendment will be deemed to be the language chosen by the parties to express their mutual intent, and no rules of strict construction will be applied against any party.
3.5 If and to the extent there are any inconsistencies between the Operating Agreement and this Amendment, the terms of this Amendment shall control.

 

 


 

IN WITNESS WHEREOF, the undersigned have executed this Amendment as of the date first written above.
         
  COMPANY:

AMERICAN PROCESSING COMPANY, LLC

 
 
  By:   DOLAN APC LLC    
    Its:  Manager   
     
  By:   /s/ Scott J. Pollei    
    Name:   Scott J. Pollei   
    Its:  Vice President   
 
  MANAGER:

DOLAN APC LLC

 
 
  By:   /s/ Scott J. Pollei    
    Name:   Scott J. Pollei   
    Its:  Vice President   
 
  MEMBERS:

DOLAN APC LLC

 
 
  By:   /s/ Scott J. Pollei    
    Name:   Scott J. Pollei   
    Its:  Vice President   
     
  /s/ David A. Trott    
  DAVID A. TROTT   
     
  /s/ Ellen Coon    
  ELLEN COON, TRUSTEE OF THE ELLEN   
  COON LIVING TRUST U/A/T 9/9/98   
     
  /s/ Marcy Ford    
  MARCY J. FORD, TRUSTEE OF THE MARCY   
  FORD REVOCABLE TRUST U/A/D 7/12/04   

 

 


 

EXHIBIT A
List of Members, Capital Contributions, Capital Accounts
Common Units and Participating Percentages
As of December 1, 2009
                 
Name, Address, Phone            
and Fax of Member   Common Units     Participating Percentage  
Dolan APC, LLC
    1,173,952       84.67 %
c/o Dolan Media Company
1200 Baker Building
706 Second Avenue South
Minneapolis, Minnesota 55402
Phone: (612)  ###-###-####
Fax: (612)  ###-###-####
Attention: James P. Dolan
               
 
               
David A. Trott
    71,337       5.14 %
c/o Trott & Trott
31440 Northwestern Highway Suite 200
Farmington Hills, MI 48334
Phone: (248)  ###-###-####
Fax: (248)  ###-###-####
               
 
               
Ellen Coon, Trustee of the Ellen Coon Living Trust
    15,735       1.14 %
u/a/d 9/9/98
c/o Trott & Trott
31440 Northwestern Highway Suite 200
Farmington Hills, MI 48334
Phone: (248)  ###-###-####
Fax: (248)  ###-###-####
               
 
               
Marcy J. Ford, Trustee of the Marcy Ford
    15,735       1.14 %
Revocable Trust u/a/t 7/12/04
c/o Trott & Trott
31440 Northwestern Highway Suite 200
Farmington Hills, MI 48334
Phone: (248)  ###-###-####
Fax: (248)  ###-###-####
               
 
               
William D. Meagher, Trustee of the William D.
    1,049       0.08 %
Meagher Trust u/a/d 8/24/07
c/o Trott & Trott
31440 Northwestern Highway Suite 200
Farmington Hills, MI 48334
Phone: (248)  ###-###-####
Fax: (248)  ###-###-####
               

 

 


 

                 
Name, Address, Phone            
and Fax of Member   Common Units     Participating Percentage  
Jeanne M. Kivi, Trustee of the Jeanne M. Kivi Trust
    1,049       0.08 %
u/a/d 8/24/07
c/o Trott & Trott
31440 Northwestern Highway Suite 200
Farmington Hills, MI 48334
Phone: (248)  ###-###-####
Fax: (248)  ###-###-####
               
 
               
Feiwell & Hannoy Professional Corporation
    23,560       1.70 %
251 North Illinois Street, Suite 1700
Indianapolis, Indiana 46204
Phone: (317)  ###-###-####
Fax: (317)  ###-###-####
Attention: Douglas Hannoy and Michael Feiwell
               
 
               
Jacqueline M. Barrett
    34,609       2.50 %
5941 Club Oaks Drive
Dallas, Texas 75248
Phone: (972)  ###-###-####
Fax: (972)  ###-###-####
               
 
               
Robert F. Frappier
    14,899       1.07 %
1735 North Blvd.
Houston, Texas 77098
Phone: (713)  ###-###-####
Fax: (713)  ###-###-####
               
 
               
James C. Frappier and Judith A. Frappier, JTWROS
    5,714       0.41 %
4308 Mossey Oak Court
Flower Mound, Texas 75022
Phone: (214)  ###-###-####
Fax: (972)  ###-###-####
               
 
               
Mary A. Daffin and Maynard Samuel Daffin, Sr.,
    14,899       1.07 %
Tenants in Common
11750 Gallant Ridge Lane
Houston, Texas 77082
Phone: (281)  ###-###-####
Fax: (281)  ###-###-####
               
 
               
Barry Tiedt and Terri Tiedt, JTWROS
    5,714       0.41 %
921 Genoa Court
Argyle, Texas 76226
Phone: (972)  ###-###-####
Fax: (972)  ###-###-####
               
 
               
Abbe L. Patton and Lisle D. Patton, JTWROS
    5,714       0.41 %
6016 Pinnacle Cr.
Little Elm, Texas 75068
Phone: (972)  ###-###-####
Fax: (972)  ###-###-####
               

 

 


 

                 
Name, Address, Phone            
and Fax of Member   Common Units     Participating Percentage  
Rebecca L. Howell
    601       0.04 %
1916 Lincolnshire
Bedford, TX 76021
Phone: (972)  ###-###-####
Fax: (972)  ###-###-####
               
 
               
Jill A. Helmers
    600       0.04 %
5208 Saddle Drive
Flower Mound, TX 75028
Phone: (972)  ###-###-####
Fax: (972 ###-###-####
               
 
               
Christine T. Pummill
    600       0.04 %
249 Enclaves Court
Coppell, TX 75019
Phone: (972) 341-523104
Fax: (972 ###-###-####
               
 
               
Brian S. Engel
    393       0.03 %
P.O. Box 76
Driftwood, TX 78619
Phone: (512)  ###-###-####
Fax: (512)  ###-###-####
               
 
               
Steve P. Turner and Marsha L. Turner, Tenants in
    394       0.03 %
Common
10002 Brandywine Circle
Austin, TX 78750
Phone: (512)  ###-###-####
Fax: (512)  ###-###-####
               
 
               
TOTAL:
    1,386,554       100.000 %