Exhibit 10.1

 

POI ACQUISITION, L.L.C.

QUADRANGLE MASTER FUNDING LTD

 

May 17, 2004

 

Protection One Alarm Monitoring, Inc.

Protection One, Inc.

Network Multi-Family Security Corporation

c/o Protection One Alarm Monitoring, Inc.

818 South Kansas Avenue

Topeka, Kansas  66612

 

Ladies and Gentlemen:

 

We refer to the:  (a) Credit Facility Standstill Agreement, dated as of
February 17, 2004 (the “Agreement”), among Protection One Alarm Monitoring, Inc.
(“POAM”), Protection One, Inc., Network Multi-Family Security Corporation and
POI Acquisition, L.L.C. (“POI Acquisition”); and (b) letter from Quadrangle
Master Funding Ltd (“Quadrangle”) to POAM, dated February 27, 2004:  (i)
advising POAM of Quadrangle’s assumption from POI Acquisition of one-third of
the obligations under the Credit Facility; and (ii) confirming Quadrangle’s
agreement to be bound by the obligations of POI Acquisition set forth in the
Agreement.  Capitalized terms used but not defined herein shall have the
meanings ascribed to such terms in the Agreement.

 

Pursuant to section 3 of the Agreement, the Agreement shall terminate and be of
no further force and effect on the Debt Specified Date (which, under clause (i),
is May 17, 2004).  By this letter and at your request, we hereby agree to amend
the definition of the Outside Date to mean the date that is 97 days after the
Effective Time (the “Amendment”); provided, however, that this Amendment shall
not apply to section 5 of the Agreement.  Except as otherwise provided herein,
the Agreement shall remain in full force and effect subject to the terms and
provisions thereof.

 

This letter may be executed in counterparts.  Please confirm your agreement with
the foregoing by signing and returning to the undersigned the duplicate copy of
this letter enclosed herewith.

 

Very truly yours,

 

POI ACQUISITION, L.L.C.

 

 

By:

/s/ David Tanner

 

Name:

David Tanner

Title:

 

 

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QUADRANGLE MASTER

FUNDING LTD

 

 

 

By:

/s/ Michael Weinstock

 

Name: Michael Weinstock

Title:

 

 

 

 

 

Agreed as of the date first written above:

 

 

PROTECTION ONE ALARM

MONITORING, INC.

 

 

 

By:

/s/ Darius G. Nevin

 

Name: Darius G. Nevin

Title: Executive Vice President and

Chief Financial Officer

 

 

 

 

PROTECTION ONE, INC.

 

 

 

 

By:

/s/ Darius G. Nevin

 

Name: Darius G. Nevin

Title: Executive Vice President and

Chief Financial Officer

 

 

 

 

NETWORK MULTI-FAMILY

SECURITY CORPORATION

 

 

 

 

By:

/s/ Steve Williams

 

Name: Steve Williams

Title: President

 

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