Second Amendment to Management Services Agreement among Tectonic Services, LLC, Tectonic Advisors, LLC, Sanders Morris Harris LLC, Miller-Green Financial Services LLC, and HWG Insurance Agency LLC
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Summary
This amendment updates the Management Services Agreement between Tectonic Services, LLC (as Manager) and Tectonic Advisors, LLC, Sanders Morris Harris LLC, Miller-Green Financial Services LLC, and HWG Insurance Agency LLC. Effective October 1, 2017, it revises the monthly management fees each party pays to the Manager and clarifies that each party is responsible for its own out-of-pocket expenses. All other terms of the original agreement remain unchanged.
EX-10.19.2 29 s002654x6_ex10-192.htm EXHIBIT 10.19.2
Exhibit 10.19.2
Exhibit 10.19.2
SECOND AMENDMENT TO MANAGEMENT SERVICES AGREEMENT
This Second Amendment to the Management Services Agreement dated February 5, 2015 by and between Tectonic Services, LLC as manager (“Manager”), Tectonic Advisors, LLC (“Advisors”), Sanders Morris Harris LLC (“Sanders Morris”), Miller-Green Financial Services LLC (“MG”) and HWG Insurance Agency LLC (“HWG”) is entered into by and among the Manager, Advisors, Sanders Morris, MG and HWG.
NOW, THEREFORE, IN CONSIDERATION OF THE MUTUAL PREMISES HEREIN AND OTHER GOOD AND VALUABLE CONSIDERATION, the Parties hereto hereby agree as follows:
| 1. | Section 2.1 of the Agreement shall be deleted in its entirety and replaced with the following Section 2.1 |
2.1 Management Fee. In consideration of the Services to be rendered by the Manager hereunder, Advisors, Sanders Morris, MG, and HWG shall pay the Manger a monthly management fee in the amount of $15,000, $4,000, $1,000 and $1,000, respectively, which fees shall be payable in advance and each such party shall be responsible for the payment of Out-of-Pocket Expenses (defined in Section 2.2).
| 2. | Notwithstanding anything to the contrary herein, the remaining terms, conditions and provisions of the Agreement shall remain in full force and effect, enforceable against each of the parties hereto in accordance with their terms. |
This second amendment is effective as of October 1, 2017, as agreed by the following:
| Tectonic Holdings, LLC | |||
| By: | Tectonic Services, LLC, its Manager | ||
| /s/ A. Haag Sherman | |||
| A. Haag Sherman, CEO | |||
| Tectonic Advisors, LLC | |||
| By: | Tectonic Services, LLC, its Manager | ||
| /s/ A. Haag Sherman | |||
| A. Haag Sherman, CEO | |||
| Sanders Morris Harris LLC | |||
| By: | Tectonic Services, LLC, its Manager | ||
| /s/ A. Haag Sherman | |||
| A. Haag Sherman, Vice President | |||
| Miller-Green Financial Services LLC | |||
| By: | Tectonic Services, LLC, its Manager | ||
| /s/ A. Haag Sherman | |||
| A. Haag Sherman, Vice President | |||
| HWG Insurance Agency, LLC | |||
| By: | Tectonic Services, LLC, its Manager | ||
| /s/ A. Haag Sherman | |||
| A. Haag Sherman, Vice President | |||
