{"id":42058,"date":"2015-09-17T11:25:58","date_gmt":"2015-09-17T16:25:58","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/contracts\/uncategorized\/agreement-to-terminate-the-management-services-agreement-quanta.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"agreement-to-terminate-the-management-services-agreement-quanta","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/operations\/agreement-to-terminate-the-management-services-agreement-quanta.html","title":{"rendered":"Agreement to Terminate the Management Services Agreement &#8211; Quanta Services Management LP and UtiliCorp United Inc."},"content":{"rendered":"<pre>                                December 28, 2000\n\n\nUtiliCorp United Inc.\n20 West Ninth Street\nKansas City, Missouri 64105\nAttn: Robert K. Green, President\n\n\nDear Mr. Green:\n\n     As you know, Quanta Services Management, L.P. (the \"Company\") and UtiliCorp\nUnited Inc. (\"UtiliCorp\") are parties to that certain Management Services\nAgreement, dated as of September 21, 1999 (the \"Management Services Agreement\"),\nwhereby UtiliCorp has agreed to provide certain management advice and services\nto the Company. In consideration for the advice and services rendered by\nUtiliCorp to the Company pursuant to the Management Services Agreement, the\nCompany has agreed to pay UtiliCorp a quarterly fee of $2,325,000.\n\n     The Company desires to terminate the Management Services Agreement thereby\neliminating all future quarterly payments to UtiliCorp. The Company hereby\noffers to UtiliCorp a one-time payment of $28,550,000 as consideration for\nUtiliCorp's agreement to terminate the Management Services Agreement. In\naddition, by accepting this offer, UtiliCorp agrees to treat the one-time\npayment as ordinary income for both financial reporting and tax purposes.\n\n     Upon (i) your execution of this letter on behalf of UtiliCorp and (ii) the\nCompany's payment of $28,550,000 in immediately available funds to UtiliCorp,\nwhich payment shall be delivered to UtiliCorp via wire transfer no later than\nDecember 29, 2000, the Management Services Agreement will be terminated and of\nno further force and effect, except for those liabilities accruing prior to the\ndate of such termination and the confidentiality obligations contained in\nSection 7 of the Management Services Agreement.\n\n     Quanta Services, Inc. hereby irrevocably and unconditionally guarantees the\ndue and punctual performance, observance and discharge of each term, provision,\nduty, covenant and agreement of the Company contained in, and the due and\npunctual payment when due of each amount that the Company is or may be obligated\nto pay under, the Management Services Agreement (collectively, the \"Guaranteed\nObligations\"). The Guaranteed Obligations are a guarantee of payment, not of\ncollection.\n\n     This agreement shall be governed by and construed in accordance with the\nlaws of the State of Missouri.\n\n\n                             SIGNATURE PAGE FOLLOWS\n\n\n   2\n\n\n\n\n                                     Very truly yours,\n\n                                     QUANTA SERVICES MANAGEMENT, L.P.\n                                     BY ITS GENERAL PARTNER\n\n                                     QSI, INC.\n\n\n                                     By:         \/s\/ James H. Haddox\n                                         ---------------------------------------\n                                     Name:       James H. Haddox\n                                           -------------------------------------\n                                     Title:      Chief Financial Officer\n                                            ------------------------------------\n\n\n                                     QUANTA SERVICES, INC.\n\n\n                                     By:         \/s\/ James H. Haddox\n                                         ---------------------------------------\n                                     Name:       James H. Haddox\n                                           -------------------------------------\n                                     Title:      Chief Financial Officer\n                                            ------------------------------------\n\nACCEPTED AND AGREED TO AS OF\nTHE DATE FIRST ABOVE WRITTEN:\n\nUTILICORP UNITED INC.\n\nBy:    \/s\/ Robert K. Green\n   -------------------------------------------\nName:  Robert K. Green\nTitle: President\n\n\n\n\n\n\n\n\n\n\n\n\n\n              [Signature Page to the Letter Agreement to Terminate\n                       the Management Services Agreement]\n\n\n<\/pre>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[8620,9204],"corporate_contracts_industries":[9534,9481],"corporate_contracts_types":[9613,9620],"class_list":["post-42058","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-quanta-services-inc","corporate_contracts_companies-utilicorp-united-inc","corporate_contracts_industries-utilities__electric","corporate_contracts_industries-construction__specialty","corporate_contracts_types-operations","corporate_contracts_types-operations__services"],"acf":[],"_links":{"self":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts\/42058","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts"}],"about":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/types\/corporate_contracts"}],"wp:attachment":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/media?parent=42058"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=42058"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=42058"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=42058"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}