EXHIBIT 10.1

 

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AMENDMENT NO. 3 TO LOAN DOCUMENTS

 

This Amendment No. 3 (the “Amendment”) dated as of November 30, 2004, is between
Bank of America, N.A. (“Lender”) and Newport Corporation (“Borrower”).

 

RECITALS

 

A. Borrower has executed various documents concerning credit extended by the
Lender, including, without limitation, the following documents (the “Loan
Documents”):

 

1. A certain Business Loan Agreement dated as of September 25, 2002 (together
with any previous amendments, the “Loan Agreement”).

 

2. A certain Promissory Note dated as of September 25, 2002 in the original
principal amount of $5,000,000.00 (together with any previous amendments, the
“Note”).

 

B. Lender and Borrower desire to amend the Loan Documents.

 

AGREEMENT

 

1. Definitions. Capitalized terms used but not defined in this Amendment shall
have the meaning given to them in the Loan Documents.

 

2. Amendments to Loan Agreement. The Exhibit to Loan Agreement is hereby amended
as follows:

 

(a) In paragraph number 1.1(c), entitled “Availability Period,” the date
December 1, 2004 is changed to December 1, 2005.

 

(b) In paragraph number 1.1 (d)(ii), the term “maximum maturity of 365 days” is
changed to “maximum maturity of two (2) years”.

 

3. Amendments to Note. The Note is hereby amended as follows:

 

(a) In the paragraph entitled “Payment,” the date December 1, 2004 is changed to
December 1, 2005.

 

(b) In the paragraph entitled “Advances Under the Line of Credit,” the date
December 1, 2004 is changed to December 1, 2005.

 

4. Representations and Warranties. When Borrower signs this Amendment, Borrower
represents and warrants to Lender that: (a) there is no event which is, or with
notice or lapse of time or both would be, a default under the Loan Documents
except those events, if any, that have been disclosed in writing to Lender or
waived in writing by Lender, (b) the representations and warranties in the Loan
Documents are true as of the date of this Amendment as if made on the date of
this Amendment, (c) this Amendment does not conflict with any law, agreement, or
obligation by which Borrower is bound, and (d) this Amendment is within
Borrower’s powers, has been duly authorized, and does not conflict with any of
Borrower’s organizational papers.

 

5. Effect of Amendment. Except as provided in this Amendment, all of the terms
and conditions of the Loan Documents shall remain in full force and effect.

 

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6. Counterparts. This Amendment may be executed in counterparts, each of which
when so executed shall be deemed an original, but all such counterparts together
shall constitute but one and the same instrument.

 

7. FINAL AGREEMENT. BY SIGNING THIS DOCUMENT EACH PARTY REPRESENTS AND AGREES
THAT: (A) THIS DOCUMENT REPRESENTS THE FINAL AGREEMENT BETWEEN PARTIES WITH
RESPECT TO THE SUBJECT MATTER HEREOF, (B) THIS DOCUMENT SUPERSEDES ANY
COMMITMENT LETTER, TERM SHEET OR OTHER WRITTEN OUTLINE OF TERMS AND CONDITIONS
RELATING TO THE SUBJECT MATTER HEREOF, UNLESS SUCH COMMITMENT LETTER, TERM SHEET
OR OTHER WRITTEN OUTLINE OF TERMS AND CONDITIONS EXPRESSLY PROVIDES TO THE
CONTRARY, (C) THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES, AND
(D) THIS DOCUMENT MAY NOT BE CONTRADICTED BY EVIDENCE OF ANY PRIOR,
CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OR UNDERSTANDINGS OF THE PARTIES.

 

This Amendment is executed as of the date stated at the beginning of this
Amendment.

 

Borrower:

 

Lender:

Newport Corporation

 

Bank of America, N.A.

 

By:

 

/s/ William R. Abbott

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By:

 

/s/ Anna C. Ruiz

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William R. Abbott, Vice President-Finance/Treasurer

      

Anna C. Ruiz, Vice President

By:

 

/s/ Jeffrey B. Coyne

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Jeffrey B. Coyne, Vice President/General Counsel

        

 

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