EX-99.2 3 ex992da312166002_03232020.htm JOINT FILING AND SOLICITATION AGREEMENT, DATED MARCH 23, 2020

 

JOINT FILING AND SOLICITATION AGREEMENT

 

WHEREAS, certain of the undersigned are stockholders, direct or beneficial, of GameStop Corp., a Delaware corporation (the “Company”);

 

WHEREAS, Hestia Capital Partners LP (“Hestia LP”), Hestia Capital Management, LLC, and Kurtis J. Wolf (collectively, “Hestia”), and Permit Capital Enterprise Fund, L.P., Permit Capital, LLC, Permit Capital GP, L.P., and John C. Broderick (collectively, “Permit”), Adam Dukoff and Paul J. Evans wish to form a group for the purpose of seeking representation on the Board of Directors of the Company (the “Board”) at the 2020 annual meeting of stockholders of the Company (including any other meeting of stockholders held in lieu thereof, and any adjournments, postponements, reschedulings or continuations thereof, the “Annual Meeting”) and for the purpose of taking all other action necessary to achieve the foregoing.

 

NOW, IT IS AGREED, this 23rd day of March 2020 by the parties hereto:

 

1.       In accordance with Rule 13d-1(k)(1)(iii) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), each of the undersigned (collectively, the “Group”) agrees to the joint filing on behalf of each of them of statements on Schedule 13D, and any amendments thereto, with respect to the securities of the Company. Each member of the Group shall be responsible for the accuracy and completeness of his/her/its own disclosure therein, and is not responsible for the accuracy and completeness of the information concerning the other members, unless such member knows or has reason to know that such information is inaccurate.

 

2.       So long as this agreement is in effect, each of the undersigned shall provide written notice to Hestia, Permit, and Olshan Frome Wolosky LLP (“Olshan”) of (i) any of their purchases or sales of securities of the Company; or (ii) any securities of the Company over which they acquire or dispose of beneficial ownership. Notice shall be given no later than 24 hours after each such transaction. For purposes of this agreement, the term “beneficial ownership” shall have the meaning of such term set forth in Rule 13d-3 under the Exchange Act.

 

3.       Each of the undersigned agrees to form the Group for the purpose of (i) soliciting proxies for the election of the persons nominated by Hestia LP to the Board at the Annual Meeting, (ii) taking such other actions as the parties deem advisable, and (iii) taking all other action necessary or advisable to achieve the foregoing.

 

4.       Hestia and Permit shall have the right to pre-approve all expenses incurred in connection with the Group’s activities and agree to share all such pre-approved expenses equally.

 

5.       Each of the undersigned agrees that any filing with the Securities and Exchange Commission, press release or stockholders communication proposed to be made or issued by the Group or any member of the Group in connection with the Group’s activities set forth in Section 3 shall be first approved by a representative of Hestia and a representative of Permit. The parties hereto hereby agree to work in good faith to resolve any disagreement that may arise between or among any of the members of the Group concerning decisions to be made, actions to be taken or statements to be made in connection with the Group’s activities.

 

6.       The relationship of the parties hereto shall be limited to carrying on the business of the Group in accordance with the terms of this Agreement. Such relationship shall be construed and deemed to be for the sole and limited purpose of carrying on such business as described herein. Nothing herein shall be construed to authorize any party to act as an agent for any other party, or to create a joint venture or partnership, or to constitute an indemnification. Nothing herein shall restrict any party’s right to purchase or sell securities of the Company, as he/she/it deems appropriate, in his/her/its sole discretion, provided that all such sales are made in compliance with all applicable securities laws.

 

 

7.       This Agreement may be executed in counterparts, each of which shall be deemed an original and all of which, taken together, shall constitute but one and the same instrument, which may be sufficiently evidenced by one counterpart.

 

8.       This agreement is governed by and will be construed in accordance with the laws of the State of New York. In the event of any dispute arising out of the provisions of this agreement or their investment in the Company, the parties hereto consent and submit to the exclusive jurisdiction of the United States District Court for the Southern District of New York located in the Borough of Manhattan or the courts of the State of New York located in the County of New York.

 

9.       Any party hereto may terminate his/her/its obligations under this Agreement on 24 hours’ written notice to all other parties, with a copy by email or fax to Elizabeth Gonzalez-Sussman at Olshan (email: egonzalez@olshanlaw.com; Fax No. (212) 451-2222).

 

10.       Each party acknowledges that Olshan shall act as counsel for the Group and each of Hestia and Permit relating to their investment in the Company.

 

11.       Each of the undersigned parties hereby agrees that this Agreement shall be filed as an exhibit to a Schedule 13D pursuant to Rule 13d-1(k)(1)(iii) under the Exchange Act.

 

[Signatures appear on next page]

 

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IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the day and year first above written.

 

  Hestia Capital Partners, LP
   
  By:

Hestia Capital Management, LLC,

its General Partner

     
  By:

/s/ Kurtis J. Wolf

    Name: Kurtis J. Wolf
    Title: Managing Director

 

 

  Hestia Capital Management, LLC
   
  By:

/s/ Kurtis J. Wolf

    Name: Kurtis J. Wolf
    Title: Managing Member

 

 

 

/s/ Kurtis J. Wolf

 

Kurtis J. Wolf 

 

 

 

  Permit Capital Enterprise Fund, L.P.
   
  By:

/s/ John Broderick

    Name: John Broderick
    Title: Partner

  

  Permit Capital, LLC
   
  By:

/s/ John Broderick

    Name: John Broderick
    Title: Partner

 

 

  Permit Capital GP, L.P.
   
  By:

/s/ John Broderick

    Name: John Broderick
    Title: Partner

 

 

 

/s/ John Broderick

  John Broderick

 

 

 

 

/s/ ADAM DUKOFF

 

Adam dukoff

 

 

 

/s/ PAUL J. EVANS

 

PAUL J. EVANS