EXHIBIT 10.1
 
EXECUTION COPY
CONSENT MEMORANDUM
 
TO:
Schawk, Inc. Lender Group
 
FROM:
Schawk, Inc.
 
RE:
Consent re: Specified Voting Arrangements
 
DATE:
March 14, 2014
 

Reference is hereby made to that certain Second Amended and Restated Credit
Agreement (as amended, restated, supplemented or otherwise modified from time to
time, the “Credit Agreement”), dated as of January 27, 2012, by and among
Schawk, Inc. (the “Company”), the Subsidiary Borrowers (as defined therein) from
time to time parties thereto, the Alternate Currency Borrowers (as defined
therein, collectively, with the Company and the Subsidiary Borrowers, the
“Borrowers”) from time to time parties thereto, the lenders parties thereto
(collectively, the “Lenders”) and JPMorgan Chase Bank, N.A., as agent (the
“Agent”).  Capitalized terms used herein and not otherwise defined herein shall
have the meanings set forth in the Credit Agreement.
 
The Company has informed the Lenders and the Agent that (i) the Company is
currently in negotiations with an entity previously disclosed to the Lenders and
code named Moonlight (“Moonlight”) pursuant to which the Company may be acquired
by Moonlight pursuant to a merger of a wholly-owned subsidiary of Moonlight with
and into the Company (the “Merger”) and (ii) in connection therewith, certain
stockholders of the Company are considering entering into a stockholder
agreement (in substantially the form attached hereto as Exhibit A, the
“Stockholder Agreement”) with Moonlight pursuant to which such stockholders
shall, subject to the terms and conditions set forth therein, (A) vote their
equity interests in the Company in favor of the Merger and (B) grant an
irrevocable proxy to Moonlight and its executive officers and other designees to
vote their shares as contemplated by the foregoing clause (A) (the foregoing
agreements by such stockholders being referred to herein as the “Specified
Voting Arrangements”).  The Specified Voting Arrangements would constitute a
“Change of Control” under the Credit Agreement pursuant to clause (A) of such
definition and therefore the Company has requested that, notwithstanding the
foregoing, the Agent and the Lenders consent to and agree (the “Consent”) that
the Specified Voting Arrangements shall not constitute a Change of Control;
provided that, for the avoidance of doubt, it is expressly understood and agreed
that this Consent does not permit or otherwise approve or consent to the Merger
and that the Merger shall constitute a Change of Control, which will require a
separate consent if and when the Merger is consummated.
 
Please indicate your Consent by executing two (2) counterparts of your attached
signature page to this Consent Memorandum and, upon execution, return one copy
by fax or e-mail to the attention of Michael Peluso at Sidley Austin LLP,
counsel to the Agent (fax number: 312/853-7036; e-mail: mpeluso@sidley.com) no
later than 12:00 noon (Chicago time) on March 14, 2014 and return two (2)
originals to Michael Peluso at Sidley Austin LLP, One South Dearborn Street,
Chicago, Illinois 60603.  Please make any necessary corrections or adjustments
to your signature block prior to execution and delivery.  Upon receipt by the
Agent of (i) executed signature pages via facsimile or e-mail from the
Borrowers, the Agent and the Required Lenders pursuant to Section 9.3 of the
Credit Agreement and (ii) evidence reasonably satisfactory to the Agent that the
Note Documents have been modified in a manner consistent with this Consent
Memorandum, this Consent Memorandum will be effective.
 
Except as otherwise expressly provided herein, this Consent Memorandum shall not
be deemed or otherwise be construed as a waiver, amendment, or other
modification with respect to any term, condition, or any other provision of the
Credit Agreement, any other Loan Document or otherwise.
 

 
 

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This Consent Memorandum may be executed in any number of counterparts, each of
which when so executed and delivered shall be an original, but all of which
shall constitute one and the same instrument.  Delivery of an executed
counterpart to this Consent Memorandum by electronic mail or facsimile
transmission shall be effective as an original and shall constitute a
representation that an original will be delivered.  This Consent Memorandum
shall be governed by, and shall be construed and enforced in accordance with,
the laws of the State of Illinois.
 
This Consent shall terminate on the earliest of (i) the termination of the
Stockholder Agreement, (ii) the termination of the merger agreement in respect
of the Merger or the abandonment of the Merger and (iii) October 31, 2014.
 
[Signature Pages Follow]
 

 
 

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JPMORGAN CHASE BANK, N.A.,
individually as a Lender and as Agent
 
 
   
 
    By:
/s/Robert Whitecotton
        Name:  Robert Whitecotton       Title:  Underwriter  

 
 

 

  Signature Page to Consent Memorandum
(Schawk, Inc.)
 

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PNC BANK, NATIONAL ASSOCIATION,
as a Lender
 
 
   
 
    By:
/s/Brian Caldwell
        Name:  Brian Caldwell       Title:  Senior Vice President  

 
 

 
  Signature Page to Consent Memorandum
(Schawk, Inc.)
 

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BANK OF AMERICA, N.A.,
as a Lender
 
 
   
 
    By:
/s/Jonathan M. Phillips
        Name:  Jonathan M. Phillips       Title:  Senior Vice President  

 
 

 
Signature Page to Consent Memorandum
(Schawk, Inc.)
 

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WELLS FARGO BANK, NATIONAL ASSOCIATION,
as a Lender
 
 
   
 
    By:
/s/Robert J. Stegmann
        Name:  Robert J. Stegmann       Title:  Senior Vice President  

 
 

 

Signature Page to Consent Memorandum
(Schawk, Inc.)
 

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NORTH SHORE COMMUNITY BANK & TRUST COMPANY,
as a Lender
 
 
   
 
    By:
/s/Eric M. Edelhart
        Name:  Eric M. Edelhart       Title:  SVP  

 
 

 
 
Signature Page to Consent Memorandum
(Schawk, Inc.)
 

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Acknowledged and Agreed: 
 
SCHAWK, INC.
 
 
        By:
/s/Timothy J. Cunningham
     
 
  Name:  Timothy J. Cunningham       Title:  EVP & CFO        

 
 

 
 
SCHAWK USA INC.
 
 
        By:
/s/Timothy J. Cunningham
     
 
  Name:  Timothy J. Cunningham       Title:  EVP & CFO        

 
 

 
SCHAWK UK LIMITED (Co. No. 03462552)
 
 
        By:
/s/Timothy J. Cunningham
     
 
  Name:  Timothy J. Cunningham       Title:  EVP & CFO        

 
 

 
SCHAWK LUXEMBOURG, S.À.R.L.
 
 
        By:
/s/Timothy J. Cunningham
     
 
  Name:  Timothy J. Cunningham       Title:  EVP & CFO        

 
 

  
 SCHAWK CANADA INC.
 
 
        By:
/s/Timothy J. Cunningham
     
 
  Name:  Timothy J. Cunningham       Title:  EVP & CFO        

 
 

 
 
Signature Page to Consent Memorandum
(Schawk, Inc.)
 

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