Document:

QuickLinks
 -- Click here to rapidly navigate through this document

 
 

  Exhibit 10.15    
    

 
  AMENDMENT NO. 1 TO VOTING AND RIGHT OF FIRST REFUSAL AGREEMENT    
    

        THIS AMENDMENT NO. 1 TO THE VOTING AND RIGHT OF FIRST REFUSAL AGREEMENT (this
"Amendment"), dated as of July 29, 2009, is made by and among Liberty Entertainment, Inc., a Delaware corporation
("Splitco"), The DIRECTV Group, Inc., a Delaware corporation ("DIRECTV"), DIRECTV, a Delaware
corporation formed as a direct, wholly-owned Subsidiary of DIRECTV ("Holdings"), Dr. John C. Malone
("Dr. Malone"), Mrs. Leslie Malone, The Tracy L. Neal Trust A (the "Tracy Trust") and The
Evan D. Malone Trust A (the "Evan Trust," and together with Dr. Malone, Mrs. Malone and the Tracy Trust, collectively, the
"Malones" and each a "Malone"). 

 
 

RECITALS    
    

        A.    Splitco,
DIRECTV, Holdings and each Malone entered into that certain Voting and Right of First Refusal Agreement, dated as of May 3, 2009 (the
"Malone Agreement"). 

        B.    Splitco,
Holdings and each Malone now intend to amend certain provisions of the Malone Agreement as set forth herein. 

        C.    Section 13(j)
of the Malone Agreement requires that prior to the Merger Effective Time, any amendment to the Malone Agreement be by written agreement of
(i) Holdings, (ii) Members holding a majority of the Member Shares, and (iii) Splitco. 

        NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, each of Splitco,
Holdings and each Malone hereby agrees as follows: 

        SECTION 1.    Defined Terms.    Terms defined in the Malone
Agreement are used in this Amendment with the same meaning, unless otherwise indicated. 

        SECTION 2.    Amendments to Malone Agreement.    The Malone
Agreement is hereby amended as follows: 

        2.1   The
definition of "Acquire" in Section 1 of the Malone Agreement is hereby amended by deleting such definition and replacing it in its entirety to read as
follows: 

        ""Acquire" means to purchase or otherwise acquire, or enter into any agreement with respect to the purchase or acquisition of any
security, including any Constructive Acquisition that is treated as an acquisition of beneficial ownership for federal income tax purposes." 

        2.2   The
definition of "Acquisition" in Section 1 of the Malone Agreement is hereby amended by deleting such definition and replacing it in its entirety to read as
follows: 

        ""Acquisition" means a purchase or other acquisition, or entering into any agreement with respect to the purchase or acquisition of any
security, including any Constructive Acquisition that is treated as an acquisition of beneficial ownership for federal income tax purposes." 

        2.3   The
definition of "Exchange Time" in Section 1 of the Malone Agreement is hereby amended by deleting such definition and replacing it in its entirety to read as
follows: 

        ""Exchange Time" means the time following the Split-Off Effective Time and immediately preceding the DIRECTV Effective Time
provided that all conditions set forth in Article VII of the Merger Agreement have been satisfied or waived (other than those conditions that by their nature may only be satisfied at the
Closing), and the parties to the Merger Agreement are obligated to complete the Closing." 

 

        2.4   The
definition of "Exempt Transfer" in Section 1 of the Malone Agreement is hereby amended by deleting clause (vii) thereof and replacing it in its
entirety to read as follows: 

        "(vii)
to a Related Party of a Malone;" 

        2.5   The
definition of "Malone Holdings Shares" in Section 1 of the Malone Agreement is hereby amended by deleting such definition and replacing it in its entirety to
read as follows: 

        ""Malone Holdings Shares" means, that number of shares of outstanding Holdings Class B Common Stock equal to the aggregate number
of shares of Splitco Series B Common Stock owned of record by the Members at the Exchange Time multiplied by the Splitco Exchange Ratio." 

        2.6   Section 7(b)(iii)
of the Malone Agreement is hereby amended by deleting the first sentence thereof and replacing it in its entirety to read as follows: 

        "Prior
to termination of this Agreement in accordance with Section 12, no voluntary transfers of Member Shares may be made by a Member, except to Holdings pursuant to the
Redemption Right, during the period commencing on the first day of the Redemption Period and ending on (x) the date Holdings actually purchases Member Shares pursuant to the Redemption Right or
(y) if earlier, the date Holdings is required to purchase Member Shares pursuant to the Redemption Right and fails to so purchase such Member Shares notwithstanding the applicable Member's
compliance with its obligations under Section 4.11 of the Holdings Charter; provided, that, prior to the date that the Member makes (or is deemed
to have made) an election pursuant to Section 4.11(a)(iv) of the Holdings Charter, such Member may transfer, to the extent allowed under Section 4 hereof, Member Shares to any transferee
if
the Class B Automatic Conversion (as defined in the Holdings Charter) is triggered as a result of such transfer." 

        2.7   Sections 9(a)
and (b) of the Malone Agreement are hereby deleted and replaced in their entirety to read as follows: 

        "(a)    Exchange.    At the Exchange Time, (i) each Member shall assign, transfer, convey and deliver to
Holdings and Holdings shall accept and acquire from such Member, all outstanding shares of Splitco Series B Common Stock owned of record by him, her or it (free and clear of all Liens, other
than Liens created by this Agreement and any Permitted Pledge (subject to the last sentence of this paragraph)), and (ii) Holdings shall issue and deliver to the Members, and the Members shall
accept and acquire from Holdings, in the aggregate, the Malone Holdings Shares (free and clear of all Liens, other than any Liens created by such Member (collectively, the
"Exchange"). The Members shall cause any Permitted Pledge on the shares of Splitco Series B Common Stock Beneficially Owned by them to be
released concurrent with the Exchange Time (it being understood that such Permitted Pledge shall thereupon encumber the Member Shares received in exchange therefor in the Exchange). 

        (b)    Exchange of Certificates.    To effect the Exchange at the Exchange Time, the exchange of certificates (or
evidence of shares in book-entry form) representing the shares of Splitco Series B Common Stock Beneficially Owned by the Members for certificates (or evidence of shares in
book-entry form) representing the Malone Holdings Shares, and the related actions thereto, shall be completed by the Exchange Agent (as if at the Merger Effective Time) pursuant to the
procedures set forth in Section 2.2 of the Merger Agreement." 

2

 

        2.8   Section 10(b)
of the Malone Agreement is hereby deleted and replaced in its entirety to read as follows: 

        "(b)    Malone Certificate and S-4 Malone Certificate.    (i) The parties acknowledge that it is a
condition to DIRECTV's obligation to consummate the Mergers that Dr. Malone has delivered to DIRECTV the certificate (the "Malone Certificate")
specified in Section 7.2(g) of the Merger Agreement. DIRECTV, Splitco and Holdings acknowledge that Dr. Malone is under no obligation, express or implied, to deliver the Malone
Certificate (regardless of whether the S-4 Malone Certificate (as defined below) is delivered in accordance with clause (ii) below) if the statements therein are not believed by him
in good faith to be true as of such time or to take any action or refrain from taking any action prior to the Closing to the extent necessary to make the representations specified therein true and
correct as of the Closing Date, and that Dr. Malone shall not have personal liability to DIRECTV, Splitco or Holdings if he fails to deliver the Malone Certificate.
DIRECTV, Splitco and Holdings acknowledge and agree that the representations contained in the Malone Certificate, if delivered, do not survive the Closing of the Mergers. 

         (ii)  In
addition, the parties acknowledge that in connection with the filing with the Securities and Exchange Commission of the executed tax opinion of Weil Gotshal &
Manges LLP (the date of such opinion, the "Opinion Date") as an exhibit to the Holdings Form S-4 (as defined in the Merger
Agreement), DIRECTV has requested that Dr. Malone deliver to Holdings a certificate, dated as of the Opinion Date, substantially in the form attached hereto as Exhibit A (the
"S-4 Malone Certificate"). DIRECTV, Splitco and Holdings acknowledge that Dr. Malone is under no obligation, express or implied, to
deliver the S-4 Malone Certificate if the statements therein are not believed by him in good faith to be true as of such time or to take any action or refrain from taking any action prior
to the Opinion Date to the extent necessary to make the representations specified therein true and correct as of the Opinion Date, and that Dr. Malone shall not have personal liability to
DIRECTV, Splitco or Holdings if he fails to deliver the S-4 Malone Certificate. DIRECTV, Splitco and Holdings further acknowledge and agree that (A) the representations contained in
the S-4 Malone Certificate, if delivered, do not survive the Opinion Date and (B) in no event will they seek damages or other remedies against Dr. Malone in the event
DIRECTV, Splitco or Holdings is subjected to any claims, demands, legal proceedings, damages or expenses based upon an allegation or determination that any securities filings of DIRECTV, Splitco or
Holdings contained an untrue statement of a material fact or omitted to state a material fact required to be stated therein or necessary to make the statements therein not misleading because any
statement in the S-4 Malone Certificate is alleged, or is ultimately determined to be, untrue, incomplete or misleading in any respect." 

        2.9   Section 12
of the Malone Agreement is hereby amended by deleting the second sentence thereof and replacing it in its entirety to read as follows: 

        "Following
the Merger Effective Time, this Agreement shall terminate automatically, without further action of the parties hereto, (i) with respect to a Member upon the first to
occur of the following: (w) all Member Shares held by such Member having been purchased by Holdings pursuant to the Redemption Right, (x) after electing to purchase the Member Shares
held by such Member pursuant to the Redemption Right, Holdings fails to complete the purchase of all such Member Shares by the Close of Business on the 5th business day following notice from
the applicable Member that Holdings failed to complete the purchase of all such Member Shares within the time period required by Section 4.11 of the Holdings Charter notwithstanding the
applicable Member's 

3

 

compliance
with its obligations under Section 4.11 of the Holdings Charter, (y) all of the Member Shares held by such Member having been Transferred in compliance with this Agreement, or
(z) the Redemption Right ceases to apply to the Member Shares held by such Member, and (ii) with respect to all Members upon the first to occur of (x) the date the Redemption
Right expires unexercised as to all Member Shares, or (y) upon the completion of a Change of Control; provided, however, that in the case of
clause (i) or clause (ii)(x), and absent the earlier termination of this Agreement in accordance with the first sentence of this Section 12, in no event shall Section 4
terminate prior to the day following the first anniversary of the Split-Off Effective Time." 

        SECTION 3.    Effect on Malone Agreement.    Other than as
specifically set forth herein, all other terms and provisions of the Malone Agreement shall remain unaffected by the terms of this Amendment, and shall continue in full force and effect. 

        SECTION 4.    Severability.    If any term or other provision
of this Amendment is determined by a court of competent jurisdiction to be invalid, illegal or incapable of being enforced by any rule of law or public policy, all other terms, provisions and
conditions of this Amendment shall nevertheless remain in full force and effect. Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced, the
parties hereto shall negotiate in good faith to modify this Amendment so as to effect the original intent of the parties as closely as possible to the fullest extent permitted by applicable law in an
acceptable manner to the end that the transactions contemplated hereby are fulfilled to the extent possible. 

        SECTION 5.    Captions.    The captions herein are included for
convenience of reference only and will be ignored in the construction or interpretation hereof. 

        SECTION 6.    Counterparts.    This Amendment may be executed
in counterparts (each of which shall be deemed to be an original but all of which taken together shall constitute one and the same agreement) and shall become effective when one or more counterparts
have been signed by each of the parties and delivered to the other parties. 

        SECTION 7.    Successors and Assigns.    This Amendment shall
be binding upon, inure to the benefit of, and be enforceable by, the parties hereto and their respective successors and permitted assigns, including, in the case of any Malone, any trustee, executor,
heir, legatee or personal representative succeeding to the ownership of the Malone Liberty Shares, Malone Splitco Shares and Member Shares (and any other Malone Holdings Shares) (including upon the
death, disability or incapacity of any Malone). 

        SECTION 8.    Governing Law.    This amendment shall be
governed by and construed in accordance with the laws of the state of Delaware. 

        SECTION 9.    Jurisdiction.    All actions and proceedings
arising out of or relating to this Amendment shall be heard and determined in the Court of Chancery of the State of Delaware, or, if the Court of Chancery lacks subject matter jurisdiction, in any
federal court sitting in the State of Delaware, and the parties hereto hereby irrevocably submit to the exclusive jurisdiction of such courts (and, in the case of appeals, appropriate appellate courts
there from) in any such action or proceeding and irrevocably waive the defense of an inconvenient forum to the maintenance of any such action or proceeding. The consents to jurisdiction set forth in
this paragraph shall not constitute general consents to service of process in the State of Delaware and shall have no effect for any purpose except as provided in this paragraph and shall not be
deemed to confer rights on any Person other than the parties hereto. The parties hereto agree that a final judgment in any such action or proceeding shall be conclusive and may
be enforced in other jurisdictions by suit on the judgment or in any other manner provided by applicable Law. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHTS TO TRIAL BY JURY
IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATED TO THIS AMENDMENT. 

[remainder
of page intentionally left blank] 

4

        IN
WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and delivered as of the date first above written. 

							
	 	 	LIBERTY ENTERTAINMENT, INC.
	

 	
 	
By:	
 	
/s/ CHARLES Y. TANABE

 
	 	 	 	 	Name:	 	Charles Y. Tanabe
	 	 	 	 	Title:	 	Executive Vice President
	

 	
 	
DIRECTV
	

 	
 	
By:	
 	
/s/ LARRY D. HUNTER

 
	 	 	 	 	Name:	 	Larry D. Hunter
	 	 	 	 	Title:	 	President and Chief Executive Officer
	

 	
 	
/s/ DR. JOHN C. MALONE

  Dr. John C. Malone, individually
	

 	
 	
/s/ MRS. LESLIE MALONE

  Mrs. Leslie Malone, individually
	

 	
 	
THE TRACY L. NEAL TRUST A
	

 	
 	
By:	
 	
/s/ DAVID THOMAS

 
	 	 	 	 	Name:	 	David Thomas
	 	 	 	 	Title:	 	Trustee
	

 	
 	
THE EVAN D. MALONE TRUST A
	

 	
 	
By:	
 	
/s/ DAVID THOMAS

 
	 	 	 	 	Name:	 	David Thomas
	 	 	 	 	Title:	 	Trustee
	

 	
 	
THE DIRECTV GROUP, INC.
	

 	
 	
By:	
 	
/s/ LARRY D. HUNTER

 
	 	 	 	 	Name:	 	Larry D. Hunter
	 	 	 	 	Title:	 	President and Chief Executive Officer

 Omitted Exhibit  

        The following exhibit to Amendment No. 1 to the Voting and Right of First Refusal Agreement, dated as of July 29, 2009,
by and among Liberty Entertainment, Inc., The DIRECTV Group, Inc., DIRECTV, Dr. John C. Malone, Mrs. Leslie Malone, The Tracy L. Neal Trust A and The
Evan D. Malone Trust A has not been provided herein: 

 Exhibit:  

        Exhibit A—S-4 Malone Certificate 

        The
undersigned registrant hereby undertakes to furnish supplementally a copy of any omitted exhibit or schedule to the Securities and Exchange Commission upon request. 

QuickLinks

Exhibit 10.15

AMENDMENT NO. 1 TO VOTING AND RIGHT OF FIRST REFUSAL AGREEMENT

RECITALSex10p1.htm

    
      

    

    EXHIBIT
10.1

    
 

     EXHIBIT
M

    

    

    

    FORM
OF

    ACCESSION
AND AMENDMENT AGREEMENT

    

    

     Dated
_________ ___, 20__

    

    

    Reference
is made to the Credit Agreement, dated as of June 21, 2006 (as the same may be
amended, amended and restated, supplemented or otherwise modified from time to
time, the “Credit
Agreement”), among Cenveo Corporation,
a Delaware
corporation (the “Borrower”), Cenveo, Inc., a
Colorado corporation and parent of the Borrower (“Holdings”), each financial
institution from time to time party thereto, as lenders (collectively, the
“Lenders” and individually, a
“Lender”), and Bank of America,
N.A., as Administrative Agent, Swing Line Lender and L/C Issuer.  Capitalized
terms used herein and not otherwise defined herein shall have the meanings
assigned thereto in the Credit Agreement.  Pursuant to Section 2.01(c)
of the Credit Agreement, _____________ (the “New
Lender”) has committed to make Revolving Credit Loans to the Borrower and
to purchase participations in L/C Obligations and Swing Line Loans, in each case
in accordance with the terms and conditions set forth in the Credit
Agreement.

    

    The New Lender and the Administrative
Agent agree as follows:

    

    1.           The
New Lender agrees, on the terms and conditions set forth in the Credit
Agreement, to make Revolving Credit Loans to the Borrower and to purchase
participations in L/C Obligations and Swing Line Loans during the period from
the date hereof until the end of the Availability Period, in an aggregate
outstanding amount not to exceed on any day the New Lender’s Revolving Credit
Commitment set forth opposite its signature below.

    

    2.           On
the date hereof (the “Effective
Date”), the New Lender shall pay to the Administrative Agent, in same day
funds, at such address and account as the Administrative Agent shall advise the
New Lender, $___________, which amount shall be used to purchase by assignment
from the existing Revolving Credit Lenders such portion of the Revolving Credit
Loans and L/C Advances owing to them such that, after giving effect to all such
purchases and assignments, the New Lender will share such Revolving Credit Loans
and L/C Advances ratably with each of them (based upon the New Lender’s
Applicable Revolving Credit Percentage).  From and after the Effective
Date, the New Lender shall be a party to the Credit Agreement, entitled to all
rights, powers and privileges, and

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    subject
to all obligations, of a Revolving Credit Lender thereunder, including without
limitation (i) the right to receive all payments made by the Borrower in
respect of the Revolving Credit Loans and L/C Advances made by the New Lender,
whether on account of principal, interest, fees, indemnities in respect of
claims arising after the date hereof, increased costs, additional amounts or
otherwise, (ii) the right to vote and to instruct the Administrative Agent
under the Credit Agreement according to its Applicable Percentage,
(iii) the right to set-off and to appropriate and apply deposits of the
Borrower as set forth in the Credit Agreement and (iv) the right to receive
notices, requests, demands and other communications.

    

    3.           The New Lender (a)
represents and warrants that (i) it has full power and authority, and has taken
all action necessary, to execute and deliver this Agreement and to consummate
the transactions contemplated hereby and to become a Revolving Credit Lender
under the Credit Agreement, (ii) it meets all the requirements to be an assignee
under Section
11.06(b)(iii), (v), and (vi) of the Credit
Agreement (subject to such consents, if any, as may be required under Section 11.06(b)(iii)
of the Credit Agreement), (iii) from and after the Effective Date, it shall be
bound by the provisions of the Credit Agreement as a Revolving Credit Lender
thereunder and, to the extent of its Revolving Credit Commitment, shall have the
obligations of a Revolving Credit Lender thereunder, (iv) it is sophisticated
with respect to decisions to provide commitments and fund assets of the type
represented by the Revolving Credit Commitments and either it, or the Person
exercising discretion in making its decision to provide its Revolving Credit
Commitment pursuant to this Agreement, is experienced in providing and funding
commitments of such type, (v) it has received a copy of the Credit Agreement,
and has received or has been accorded the opportunity to receive copies of the
most recent financial statements delivered pursuant to Section 6.01(a) or
(b) thereof, as
applicable, and such other documents and information as it deems appropriate to
make its own credit analysis and decision to enter into this Agreement and to
provide the Revolving Credit Commitment hereunder, (vi) it has, independently
and without reliance upon the Administrative Agent or any other Lender and based
on such documents and information as it has deemed appropriate, made its own
credit analysis and decision to enter into and perform its obligations under
this Agreement and the Credit Agreement, and (vii) if it is a Foreign Lender,
attached hereto is any documentation required to be delivered by it pursuant to
the terms of the Credit Agreement, duly completed and executed by such New
Lender; and (b) agrees that (i) it will, independently and without reliance upon
the Administrative Agent or any other Lender, and based on such documents and
information as it shall deem appropriate at the time, continue to make its own
credit decisions in taking or not taking action under the Loan Documents, and
(ii) it will perform in accordance with their terms all of the obligations which
by the terms of the Loan Documents are required to be performed by it as a
Revolving Credit Lender.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    

    4.           This
Agreement may be executed in any number of counterparts and by different parties
in separate counterparts, each of which when so executed shall be deemed to be
an original and all of which taken together shall constitute but one and the
same instrument.  Delivery of an
executed counterpart to this Agreement by telecopy or other electronic means
shall be effective as an original and shall constitute a representation that an
original will be delivered.

    

    5.           This
Agreement shall be governed by, and construed in accordance with, the laws of
the State of New York.

    

    [REMAINDER
OF PAGE INTENTIONALLY LEFT BLANK]

     

    

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

       

    

    IN WITNESS WHEREOF, the parties
hereto have caused this Accession and Amendment Agreement to be executed by
their respective officers thereunto duly authorized, as of the date first above
written.

    

    
      

      Revolving Credit
Commitment

      

      
        
          	
                  $_____________

                	
                  [NAME
      OF NEW LENDER]

                
	 
      	 
      
	 
      	 
      
	 
      	
                  By:____________________________

                
	 
      	
                        Name:

                
	 
      	
                        Title:

                
	 
      	 
      
	 
      	
                  BANK
      OF AMERICA, N.A.,

                
	 
      	
                  as
      Administrative Agent

                
	 
      	 
      
	 
      	 
      
	 
      	
                  By: ____________________________

                
	 
      	
                        Name:

                
	 
      	
                        Title:

                

        

      

       

    

    AGREED
and ACCEPTED

    as of the
date first above

    written:

    

    CENVEO
CORPORATION

    

    

    By:____________________________

          Name:

          Title:

     

    
      
      

      
        4

        
          

        

      

      

    

    
       EXHIBIT
N

      

      

      

      FORM
OF

      INCREASING
LENDER AGREEMENT

      

      

       Dated
_________ ___, 20__

      

      

      Reference is made to the Credit
Agreement, dated as of June 21, 2006 (as the same may be amended, amended and
restated, supplemented or otherwise modified from time to time, the “Credit
Agreement”), among Cenveo Corporation,
a Delaware
corporation (the “Borrower”), Cenveo, Inc., a
Colorado corporation and parent of the Borrower (“Holdings”), each financial
institution from time to time party thereto, as lenders (collectively, the
“Lenders” and individually, a
“Lender”), and Bank of America,
N.A., as Administrative Agent, Swing Line Lender and L/C Issuer.  Capitalized
terms used herein and not otherwise defined herein shall have the meanings
assigned thereto in the Credit Agreement.  Pursuant to Section 2.01(d)
of the Credit Agreement, ____________ (the “Increasing
Lender”) has agreed to increase its Revolving Credit Commitment from
$_________ to $_________.

      

      The Increasing Lender and the
Administrative Agent agree as follows:

      

      1.           The
Increasing Lender agrees, on the terms and conditions set forth in the Credit
Agreement, to make Revolving Credit Loans to the Borrower and to purchase
participations in L/C Obligations and Swing Line Loans during the period from
the date hereof until the end of the Availability Period, in an aggregate
outstanding amount not to exceed on any day the Increasing Lender’s Revolving
Credit Commitment set forth opposite its signature below.

      

      2.           On
the date hereof (the “Effective
Date”), the Increasing Lender shall pay to the Administrative Agent, in
same day funds, at such address and account as the Administrative Agent shall
advise the Increasing Lender, $___________, which amount shall be used to
purchase by assignment from the existing Revolving Credit Lenders such portion
of the Revolving Credit Loans and L/C Advances owing to them such that, after
giving effect to all such purchases and assignments, the Increasing Lender will
share such Revolving Credit Loans and L/C Advances ratably with each of them
(based upon the Increasing Lender’s Applicable Revolving Credit
Percentage).  As of the Effective

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      Date,
upon the payment of such amount, the Revolving Credit Commitment of the
Increasing Lender shall be the amount set forth opposite its signature
below.

      

      3.           The Increasing Lender
hereby represents and warrants that it has full power and authority, and
has taken all action necessary, to execute and deliver this Agreement and to
consummate the transactions contemplated hereby and to increase its Revolving
Credit Commitment under the Credit Agreement.

      

      4.           This
Agreement may be executed in any number of counterparts and by different parties
in separate counterparts, each of which when so executed shall be deemed to be
an original and all of which taken together shall constitute but one and the
same instrument.  Delivery of an executed
counterpart to this Agreement by telecopy or other electronic means shall be
effective as an original and shall constitute a representation that an original
will be delivered.

      

      5.           This
Agreement shall be governed by, and construed in accordance with, the laws of
the State of New York.

      

      [REMAINDER
OF PAGE INTENTIONALLY LEFT BLANK]

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

      IN WITNESS WHEREOF, the parties
hereto have caused this Agreement to be executed by their respective officers
thereunto duly authorized, as of the date first above written.

      

      Revolving Credit
Commitment

      

      
        
          	
                  $_____________

                	
                  [NAME
      OF INCREASING LENDER]

                
	 
      	 
      
	 
      	 
      
	 
      	
                  By:____________________________

                
	 
      	
                        Name:

                
	 
      	
                        Title:

                
	 
      	 
      
	 
      	
                  BANK
      OF AMERICA, N.A.,

                
	 
      	
                  as
      Administrative Agent

                
	 
      	 
      
	 
      	 
      
	 
      	
                  By: ____________________________

                
	 
      	
                        Name:

                
	 
      	
                        Title:

                

        

      

      

      

      AGREED
and ACCEPTED

      as of the
date first above

      written:

      

      CENVEO
CORPORATION

      

      

      By:____________________________

            Name:

            Title:

       

      
        
        

        
          3

          
            

          

        

        
        

      

    

     

    EXHIBIT
O

    
 

    FORM
OF

    PRO
FORMA ADJUSTMENT COMPLIANCE CERTIFICATE

     

    ______________
__, 20__

     

    Reference
is made to that certain Credit Agreement, dated as of June 21, 2006 (as amended
by that certain first amendment to credit agreement, dated as of March 7, 2007,
and as the same otherwise may be amended, restated, supplemented or otherwise
modified from time to time, the "Credit
Agreement"; capitalized terms used herein but not defined herein shall
have the meanings set forth in the Credit Agreement) among CENVEO CORPORATION, a Delaware
corporation (the “Company”),
CENVEO, INC., a Colorado
corporation and parent of the Company (“Holdings”),
each financial institution from time to time party thereto, as lenders
(collectively, the “Lenders”
and individually, a “Lender”),
and BANK OF AMERICA,
N.A., as Administrative Agent, Swing Line Lender and L/C
Issuer.

     

    Borrower
has proposed a series of transactions described on Exhibit A hereto
(collectively, the “Transactions”)
involving the Disposition or Acquisition of certain assets as described on Exhibit
A.  Borrower has projected that the Transactions will give rise
to expected cost savings described herein, which forecasts must be reasonably
satisfactory to the Administrative Agent in accordance with Section 1.03(c) of
the Credit Agreement.

     

    Borrower
is providing this certificate to and for the benefit of the Administrative Agent
and hereby acknowledges that the Administrative Agent is relying on the
completeness and accuracy of the representations, warranties and other
information provided pursuant hereto.

     

    NOW, THEREFORE, the
undersigned duly qualified officer of Borrower DOES HEREBY CERTIFY, for and
on behalf of Borrower and each other Loan Party, as follows:

     

    
      	
               
      

            	
              1.

            	
              No
      Default exists as of the date hereof and no Default will result from the
      proposed Transactions or from the application of the proceeds
      thereof.

            

    

     

    
      	
               
      

            	
              2.

            	
              The
      Transactions are permitted under [Section
      7.05]
      [Section 7.03(h)]
      [Section
      7.03(i)] of
      the Credit Agreement.  [After giving effect to the Transactions,
      the aggregate book value of all property Disposed of in reliance on
      Section 7.05(i) of the Credit Agreement during the fiscal year ending
      December 31, 20__ will be $________]1.
      [After giving
      effect to the Transactions, Holdings and its Subsidiaries are in
      compliance with all covenants set forth in Section 7.11 on a Pro Forma
      Basis, as determined in accordance with Section 7.03[(h)][(i)].]2

            

    

     

    
      	
               
      

            	
              3.

            	
              Borrower
      forecasts savings of $________ will arise from the Transactions, which
      amount shall be included as an adjustment for purposes of making pro forma
      calculations in accordance with Section 1.03(c)
      of the Credit Agreement.

            

    

     

     

      
        

      

    

    
      1 Include
for a Disposition. Such amount not to exceed $35,000,000 in the current fiscal
year.

    

    
      2 Include
for an Acquisition.

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              4.

            	
              Attached
      as Exhibit
      B hereto is supporting documentation with respect to the forecasted
      savings described in the foregoing paragraph 3 hereof (collectively, the
      “Projections”).  Borrower
      hereby represents and warrants that (a) such Projections were prepared in
      good faith based upon assumptions that Borrower believes to be reasonable
      as of the date hereof and (b) such forecasted savings do not arise from
      (i) any Acquisition of property by any Loan Party or any of its
      Subsidiaries from any Affiliate thereof or (ii) any Disposition of any
      Property by any Loan Party or any of its Subsidiaries to any Affiliate
      thereof.

            

    

     

    IN WITNESS WHEREOF, the
undersigned officer of Borrower has duly executed this certificate on behalf of
Borrower as of the date first above written.

     

    CENVEO CORPORATION, a Delaware
corporation

    

    By: ______________________________________                                                                          

           Name:

           Title:

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    EXHIBIT
A

    

    [attach
description of Transactions]

    

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    EXHIBIT
B

    

    [Attach
spreadsheet breaking out sources and uses of cost savings and other supporting
documentation]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00161-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00161-of-00352.parquet"}]]