Exhibit 10.36
FIRST AMENDMENT
TO
GOODMAN GLOBAL,
INC.
STOCKHOLDERS
AGREEMENT
This First Amendment to the
Stockholders Agreement (this “Amendment”), dated as of
the [ ·
] day of [ ·
] , 2006, by and between John B. Goodman (the
“ Goodman Representative ”) and Apollo
Management V, LP (the “ Apollo Representative
”), amends that certain Stockholders Agreement (the “
Stockholders Agreement ”), dated as of
December 23, 2004, by and among the investors listed on
Schedule I thereto (the “ Goodman
Investors ”), Frio Holdings, LLC, a Delaware limited
liability company (the “ Initial Apollo
Stockholder ” and, together with any Apollo
Transferee (as defined in the Stockholders Agreement) and, in each
case, any transferee thereof, the “ Apollo
Stockholders ”), and Goodman Global, Inc., a Delaware
corporation (the “ Company ”).
Capitalized terms used but not defined in this Amendment shall have
the meaning given to them in the Stockholders Agreement.
R
E
C I T
A L
S
WHEREAS, the Investors and the
Company have entered into that certain Stockholders Agreement which
sets forth their agreement with respect to certain matters relating
to the operations of the Company and the disposition and voting of
the Shares;
WHEREAS, the Investors and the
Company desire to amend the Stockholders Agreement to provide for
the survival and amendment of certain portions of the Stockholders
Agreement that would otherwise terminate in the event of an Initial
Public Offering of the Company; and
WHEREAS, pursuant to
Section 7(d) of the Stockholders Agreement, the Stockholders
Agreement may be amended with the written consent of the Apollo
Representative and the Goodman Representative.
NOW, THEREFORE, in consideration of
the mutual covenants and agreements herein contained, the parties
hereto hereby agree as follows:
1. AMENDMENTS TO STOCKHOLDERS
AGREEMENT
(a) Section 2(a) .
Section 2(a) of the Stockholders Agreement is hereby deleted
and replaced in its entirety with the following:
“ Election of Directors
. From and after the date hereof, the Investors and the Company
shall take all action within their respective power, including but
not limited to, the voting of all shares of capital stock of the
Company Owned by them, required to include on the Board of
Directors of the Company (the “ Board ”)
at all times throughout the term of this Agreement, for so long as
the
Initial Apollo Stockholder, any
Affiliate thereof and the Goodman Investors, collectively, hold at
least 50% of the outstanding Common Stock of the
Company:
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(A)
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one
representative designated by a majority in interest of the Goodman
Investors (the “ Goodman Director ”);
and
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(B)
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such other
directors as may be designated by the Apollo
Representative.
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As of the date hereof, the Goodman
Director shall be John B. Goodman.
(b) Section 3(c)(i) .
Section 3(c)(i) of the Stockholders Agreement is hereby
deleted and replaced in its entirety with the following:
Limitations on
Transfer . No
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