Document:

Exhibit 10.2

 

Andre Hilliou

Chairman and Chief Executive Officer

Full House Resorts, Inc.

August 26, 2014

Via Hand Delivery

Dear Mr. Hilliou,

Pursuant to paragraph three, Term, of my current employment
agreement (“Agreement”) with Full House Resorts, Inc. (“Company”), effective December 7, 2012, the agreement
expires on December 7, 2014. Further, pursuant to paragraph three, Term, this letter shall serve as notice that I do not
intend to renew or extend my agreement.

Further, although it is my intention to offer my services
as Chief Financial Officer subsequent to December 7, 2014, it is my intention to retire from employment sometime in the second
quarter of 2015, subject to a date of mutual agreement. If the Company so desires, I can be available for additional services on
a part-time or special project basis after my retirement date.

Please contact me with any questions or concerns you may
have.

 

 

Deborah J. Pierce

Chief Financial Officer

Full House Resorts, Inc.

cc. Elaine Guidroz, General CounselEX-10.1

 Exhibit 10.1 

CONSULTING AGREEMENT 

THIS CONSULTING AGREEMENT (the “Agreement”), made this 2nd day of September, 2014, is entered into by Epizyme, Inc., a Delaware
corporation with its principal place of business at 400 Technology Square, Cambridge, Massachusetts 02139 (the “Company”), and Jason Rhodes (the “Consultant”). 

INTRODUCTION 
 The Company
desires to retain the services of the Consultant and the Consultant desires to perform certain services for the Company. In consideration of the mutual covenants and promises contained herein and other good and valuable consideration, the receipt
and sufficiency of which is hereby acknowledged by the parties hereto, the parties agree as follows: 
 1. Services. The Consultant
agrees to perform such consulting, advisory and related services to and for the Company as may be reasonably requested from time to time by the Company. The Consultant agrees to devote up to 30 hours per month to the performance of such services.

 2. Term. This Agreement shall commence upon the effectiveness of the resignation by the Consultant from his employment with the
Company and shall continue until December 31, 2014 (such period, as it may be extended upon mutual agreement of the parties, being referred to as the “Consultation Period”), unless sooner terminated in accordance with the provisions
of Section 4. 
 3. Compensation. 

3.1 Consulting Fees. The Consultant shall submit to the Company monthly statements, in a form satisfactory to the Company, of services
performed for the Company in the previous month. The Company shall pay to the Consultant consulting fees of $400 per hour of services actually performed and invoiced within 30 days after receipt of a monthly statement. 

3.2 Reimbursement of Expenses. The Company shall reimburse the Consultant for all reasonable and necessary expenses incurred or paid by
the Consultant in connection with, or related to, the performance of his services under this Agreement. The Consultant shall submit to the Company itemized monthly statements, in a form satisfactory to the Company, of such expenses incurred in the
previous month. The Company shall pay to the Consultant amounts shown on each such statement within 30 days after receipt thereof. 
 3.3
Benefits. The Consultant shall not be entitled to any benefits, coverages or privileges, including, without limitation, social security, unemployment, medical or pension payments, made available to employees of the Company. 

4. Termination. The Company may, without prejudice to any right or remedy it may have due to any failure of the Consultant to perform
his obligations under this Agreement, terminate the Consultation Period upon 30 days’ prior written notice to the Consultant. In the event of such termination, the Consultant shall be entitled to payment for services performed and

 
expenses paid or incurred prior to the effective date of termination, subject to the limitation on reimbursement of expenses set forth in Section 3.2. Notwithstanding the foregoing, the
Company may terminate the Consultation Period, effective immediately upon receipt of written notice, if the Consultant breaches or threatens to breach this Agreement or the agreements referenced in Section 6. 

5. Cooperation. The Consultant shall use his best efforts in the performance of his obligations under this Agreement. The Company shall
provide such access to its information and property as may be reasonably required in order to permit the Consultant to perform his obligations hereunder. The Consultant shall cooperate with the Company’s personnel, shall not interfere with the
conduct of the Company’s business and shall observe all rules, regulations and security requirements of the Company concerning the safety of persons and property. 

6. Invention, Non-Disclosure, Non-Competition and Non-Solicitation Obligations. The Consultant acknowledges and reaffirms his
obligations set forth in the Employee Confidentiality and Invention of Assignments Agreement and the Non-Competition and Non-Solicitation Agreement previously executed for the benefit of the Company, which obligations shall remain in full force and
effect during the Consultation Period as if the Consultant were an employee of the Company under such agreements. 
 7. Independent
Contractor Status. The Consultant shall perform all services under this Agreement as an “independent contractor” and not as an employee or agent of the Company. The Consultant is not authorized to assume or create any obligation or
responsibility, express or implied, on behalf of, or in the name of, the Company or to bind the Company in any manner. 
 8. Notices.
All notices required or permitted under this Agreement shall be in writing and shall be deemed effective upon personal delivery or upon deposit in the United States Post Office, by registered or certified mail, postage prepaid, addressed to the
other party at the address shown above, or at such other address or addresses as either party shall designate to the other in accordance with this Section 8. 

9. Pronouns. Whenever the context may require, any pronouns used in this Agreement shall include the corresponding masculine, feminine
or neuter forms, and the singular forms of nouns and pronouns shall include the plural, and vice versa. 
 10. Entire Agreement. This
Agreement constitutes the entire agreement between the parties and supersedes all prior agreements and understandings, whether written or oral, relating to the subject matter of this Agreement. 

11. Amendment. This Agreement may be amended or modified only by a written instrument executed by both the Company and the Consultant.

 12. Governing Law. This Agreement shall be construed, interpreted and enforced in accordance with the laws of the Commonwealth of
Massachusetts. 
 13. Successors and Assigns. This Agreement shall be binding upon, and inure to the benefit of, both parties and
their respective successors and assigns, including any corporation with which, or into which, the Company may be merged or which may succeed to its assets or business, provided, however, that the obligations of the Consultant are personal and shall
not be assigned by him. 

  
 2 

 14. Miscellaneous. 

14.1 No delay or omission by the Company in exercising any right under this Agreement shall operate as a waiver of that or any other right. A
waiver or consent given by the Company on any one occasion shall be effective only in that instance and shall not be construed as a bar or waiver of any right on any other occasion. 

14.2 The captions of the sections of this Agreement are for convenience of reference only and in no way define, limit or affect the scope or
substance of any section of this Agreement. 
 14.3 In the event that any provision of this Agreement shall be invalid, illegal or otherwise
unenforceable, the validity, legality and enforceability of the remaining provisions shall in no way be affected or impaired thereby. 
 IN
WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year set forth above. 
  

			
	EPIZYME, INC.
		
	By:	 	 /s/ Robert J. Gould

		
	Title:	 	 Chief Executive Officer

	
	CONSULTANT
	
	 /s/ Jason Rhodes

	Jason Rhodes

  
 3modificationexhibit.htm

MODIFICATION AND LIMITED WAIVER TO

 

SECOND AMENDED AND RESTATED

 

LOAN AND SECURITY AGREEMENT

 

This Modification And Limited Waiver To Second Amended And Restated Loan And Security Agreement (the "Agreement"), dated as of August 26, 2014, is entered into by and among AeroCentury Corp., a Delaware corporation (the "Borrower"), and Mufg Union Bank, N.A., formerly known as Union Bank, N.A. (“Union Bank”), for itself, as Lender and Swing Line Lender, and as Agent for the Lenders identified in the Loan Agreement (hereinafter defined), with reference to the following facts.

 

RECITALS

 

A.           Pursuant to the terms of that certain Second Amended and Restated Loan and Security Agreement dated as of May 30, 2014 (as the same may be further amended, supplemented or otherwise modified from time to time, the "Loan Agreement") by and between Borrower, as borrower, the Lenders party thereto, and Union Bank, in its capacity as Lender and Swing Line Lender and as the Agent on behalf and for the benefit of the Lenders, Lenders made available to Borrower a revolving credit facility in the aggregate principal amount of up to One Hundred Eighty Million Dollars ($180,000,000.00) (the "Loan").  Except as otherwise specifically provided herein, all capitalized terms used and not defined herein shall have the meanings set forth in the Loan Agreement.

 

B.           The Loan is evidenced by that certain (i) Second Amended and Restated Revolving Note dated May 30, 2014, made by Borrower and payable to the order of Union Bank in the maximum principal amount of $55,000,000.00; (ii) Second Amended and Restated Revolving Note dated May 30, 2014, made by Borrower and payable to the order of California Bank and Trust in the maximum principal amount of $30,000,000.00; (iii) Second Amended and Restated Revolving Note dated May 30, 2014, made by Borrower and payable to the order of U.S. Bank National Association in the maximum principal amount of $30,000,000.00; (iv) Second Amended and Restated Revolving Note dated May 30, 2014, made by Borrower and payable to the order of Umpqua Bank in the maximum principal amount of $25,000,000.00; (v) Amended and Restated Revolving Note dated May 30, 2014, made by Borrower and payable to the order of First Bank in the maximum principal amount of $20,000,000.00; (vi) Revolving Note dated May 30, 2014, made by Borrower and payable to the order of Cathay Bank in the maximum principal amount of $10,000,000.00; and (vii) Commercial Promissory Note [Swing Line] dated May 30, 2014, made by Borrower and payable to the order of Union Bank in the maximum principal amount of $10,000,000.00 (collectively, the "Notes").

 

C.           The Notes are secured by the Collateral pursuant to, among other things, Mortgages filed with the FAA, filed in the International Registry and recorded or filed according to local law practices.

 

D.           In order to provide further assurances regarding the payment of the Loan and the priority of the Collateral, Borrower delivered to Agent that certain Subordination Agreement (Management Agreement) dated April 28, 2010, by and between JetFleet Management Corp., a California corporation (“JMC”), Borrower and Agent.

 

E.           The Loan Agreement, the Notes and the Mortgages, together with any other documents executed by or among the parties in connection with the Loan, and any and all amendments and modifications thereto, and together with all financing statements and other documents or instruments filed or recorded in connection with the Collateral and/or the Loan are referred to collectively as the "Loan Documents".  This Agreement is a Loan Document.

 

F.           As of August 22, 2014, the outstanding principal balance, exclusive of accrued interest and other expenses, under the Notes is $98,400,000.

 

G.           Borrower has notified Agent that Borrower is presently in non-compliance of the “No Net Loss” covenant set forth in Section 6.15.5 of the Loan Agreement for the quarter ending June 30, 2014 due to an impairment charge in the amount of $6,800,000 that Borrower recorded with respect to five Fokker 100 aircraft (the “Covenant Non-Compliance”).

 

I.           Borrower has requested that the Lenders (i) waive any Default or Event of Default arising from Borrower’s Covenant Non-Compliance with the requirement of Section 6.15.5 of the Loan Agreement and (ii) modify the Loan Agreement as set forth herein.  Lenders are willing to modify the Loan Agreement as described below and agree to the requested waiver subject to all terms and conditions set forth herein.

 

NOW THEREFORE, in consideration of the mutual covenants and agreements contained herein, the parties hereto agree and covenant as follows:

 

AGREEMENT

 

1. Recitals.  The recitals set forth above are true, accurate and correct.

 

2. Reaffirmation of the Loan.  Borrower reaffirms all of its obligations under all of the Notes and all other Loan Documents, in each case either as originally executed or as the same may from time to time be supplemented, modified, amended, restated, extended or supplanted.  Borrower acknowledges that it has no claims, offsets or defenses with respect to the payment of sums due under the Notes or any other Loan Document.

 

3. Waiver of Covenant Non-Compliance.  Based on the foregoing recitals, in reliance on the truth and accuracy of the representations and warranties set forth below, Agent, with the consent of Lenders, hereby waives, effective as of the Modification Effective Date, any Default or Event of Default arising out of Borrower’s Covenant Non-Compliance.  Such waiver shall not constitute a waiver of any other violation of the Loan Documents.

 

4. Modification of Loan Agreement.  The Loan Agreement is hereby modified, effective as of the Modification Effective Date, as follows:

 

4.1 Section 6.15.5 of the Loan Agreement is hereby deleted in its entirety and is replaced with the following:

 

“6.15.5                      No Net Loss.  Borrower shall not suffer a consolidated net loss, as calculated according to GAAP, as of the end of any Fiscal Quarter, calculated on a year-to-date basis.  For the avoidance of doubt, net loss will be calculated without any adjustment for Permitted Aircraft Disposition Charges (if any) incurred during the calculation period; provided, however, for the purposes of the covenant in this Section 6.15.5 the calculation of net loss as of the end of any Fiscal Quarter through the period ending December 31, 2015 shall not include any gains or losses on the sale, revaluation, impairment charges, or other disposition event related to Borrower’s Fokker 100 Aircraft  that occurred on or prior to September 30, 2015.”

 

4.2 Compliance Certificate.  Section 5 of the Compliance Certificate attached as Exhibit D to the Loan Agreement is hereby deleted in its entirety and is replaced with the following:

 

	
5.  Section 6.15.5:  No Net Loss

	  
	  	
No net loss as of the end of any Fiscal Quarter

 

	  
	  	
Net income calculated according to GAAP on a year-to-date basis*

	  	
$ 

	  	
*net income as of the end of any Fiscal Quarter through the period ending December 31, 2015, shall not include any gains or losses on the sale, revaluation, impairment charges, or other disposition event related to Borrower’s Fokker 100 Aircraft that occurred on or prior to September 30, 2015.

5. Conditions Precedent.  Before this Agreement becomes effective and any party becomes obligated under it, all of the following conditions shall have been satisfied in a manner acceptable to Agent in its sole judgment (such date when all the following conditions are so satisfied being the “Modification Effective Date”):

 

5.1 Agent shall have received all of the following, each of which shall be originals unless otherwise specified, each duly executed by an authorized signatory of each party thereto and each in form and substance satisfactory to Agent and its legal counsel (unless otherwise specified or, in the case of the date of any of the following, unless Agent otherwise agrees or directs):

 

5.1.1 this Agreement; and

 

5.1.2 the Reaffirmation of Subordination Agreement and Consent to Modification and Waiver executed by JMC in the form attached hereto.

 

5.2 Agent shall have received such documentation as Agent may reasonably require to establish the due organization, valid existence and good standing of any guarantor or other party to any of the Loan Documents, its qualification to engage in business in each material jurisdiction in which they are engaged in business or required to be so qualified, its authority to execute, deliver and perform the Loan Documents to which it is a party, the identity, authority and capacity of each authorized signatory thereof authorized to act on its behalf, including certified copies of articles of organization and amendments thereto, bylaws and operating agreements and amendments thereto, certificates of good standing and/or qualification to engage in business, tax clearance certificates, certificates of corporate resolutions, incumbency certificates, Certificates of Responsible Officials, and the like.

 

5.3 Agent shall have received any other agreements, resolutions, documents, opinion letters, entity documents, UCC and litigation searches, and information relating to the Loan (including evidence of Borrower's authority to enter into this Agreement) that Agent may reasonably require or request in connection with this Agreement or in accordance with the other Loan Documents, including but not limited to documents reaffirming Agent's security interest in the Collateral as required according to local law practices.

 

5.4 All of the representations and warranties of Borrower set forth in this Agreement shall be true and correct in all material respects on and as of the date of this Agreement.

 

6. Payment of Expenses.  Borrower shall pay the reasonable fees and expenses of Agent's outside counsel, as well as any other reasonable documented costs and expenses incurred or payable by the Agent in connection with due diligence, syndication, and the preparation, execution and delivery of this Agreement and the other documentation contemplated hereby.  In addition, as a condition to the effectiveness of this Agreement, Borrower shall have paid any negotiated loan fees associated with this Agreement to each Lender.

 

7. Borrower's Representations and Warranties.  Borrower represents and warrants to Lenders as follows:

 

7.1 Loan Documents.  Except as otherwise disclosed to Agent in writing prior to the date of this Agreement, all representations and warranties made and given by Borrower in the Loan Documents are true, accurate and correct as of the date hereof except with respect to the amended schedules attached hereto.

 

7.2 No Default.  Other than with respect to the Covenant Non-Compliance, there exists no Event of Default or event which, with the passage of time or the giving of notice or both, would constitute an Event of Default.

 

7.3 Borrowing Entity.  Borrower is a corporation, duly organized and existing and in good standing under the laws of the State of Delaware, and is qualified or licensed to do business in all jurisdictions (including California) in which such qualification or licensing is required or in which the failure to so qualify or to be so licensed could result in an Event of Default.  There have been no changes in the organization, composition, ownership structure or formation documents of Borrower since the inception of the Loan except for those previously disclosed in writing to Agent.

 

7.4 Existing Liens.  As of the date hereof, except as disclosed in writing to Agent, no Liens exist on any of Borrower's assets and/or property of any kind.

 

8. No Impairment; No Novation.  Except as specifically hereby amended, the Loan Documents shall each remain unaffected by this Agreement and all Loan Documents shall remain in full force and effect.  The execution and delivery of this Agreement shall not constitute a novation of any Loan Document.

 

9. Integration.  The Loan Documents, including this Agreement:  (a) integrate all the terms and conditions mentioned in or incidental to the Loan Documents; (b) supersede all oral negotiations and prior and other writings with respect to their subject matter; and (c) are intended by the parties as the final expression of the agreement with respect to the terms and conditions set forth in those documents and as the complete and exclusive statement of the terms agreed to by the parties.  If there is any conflict between the terms, conditions and provisions of this Agreement and those of any other agreement or instrument, including any of the other Loan Documents, the terms, conditions and provisions of this Agreement shall prevail.

 

10. Miscellaneous.  This Agreement may be signed in any number of counterparts, each of which shall be an original, with the same effect as if all signatures were upon the same instrument.  Delivery of an executed counterpart of the signature page to this Agreement by telefacsimile shall be effective as delivery of a manually executed counterpart of this Agreement, and any party delivering such an executed counterpart of the signature page to this Agreement by telefacsimile to any other party shall thereafter also promptly deliver a manually executed counterpart of this Agreement to such other party; provided; however, that the failure to deliver such manually executed counterpart shall not affect the validity, enforceability, or binding effect of this Agreement.  If any court of competent jurisdiction in the state of California determines any provision of this Agreement or any of the other Loan Documents to be invalid, illegal or unenforceable, that portion shall be deemed severed from the rest, which shall remain in full force and effect as though the invalid, illegal or unenforceable portion had never been a part of the Loan Documents.  This Agreement shall be governed by the laws of the State of California, without regard to the choice of law rules of that State.  As used in this Agreement, the word "include(s)" means "includes(s), without limitation," and the word "including" means "including, but not limited to."  In the event of a dispute between any of the parties hereto over the meaning of this Agreement, all parties shall be deemed to have been the drafter hereof, and any applicable law that states that contracts are construed against the drafter shall not apply.

 

[Remainder of Page Intentionally Left Blank.  Signature Pages Follow.]

 

	
SMRH:430844381.3

	
--

	
Modification and Limited Waiver

	  	  	
AeroCentury Corp.

  

  

  

IN WITNESS WHEREOF, the parties have agreed to the foregoing as of the date first set forth above.

 

	
BORROWER

 

 

AEROCENTURY CORP.,

a Delaware corporation

 

By:            

Name:                                                                                    

Title:            

 

 

 

	  

	  	
S-

	
Modification and Limited Waiver

	  	  	
AeroCentury

  

  

  

	
AGENT, LENDER AND SWING LINE LENDER:

 

MUFG UNION BANK, N.A.,

formerly known as Union Bank, N.A.

 

 

 

By:            

Name:                                                                                    

Title:            

 

 

	  

	  	
S-

	
Modification and Limited Waiver

	  	  	
AeroCentury

  

  

  

	
LENDER:

 

CALIFORNIA BANK AND TRUST

 

 

 

By:            

Name:                                                                                    

Title:            

 

 

 

	  

	  	
S-

	
Modification and Limited Waiver

	  	  	
AeroCentury

  

  

  

	
LENDER:

 

FIRST BANK

 

 

 

By:            

Name:                                                                                    

Title:            

 

 

	  

	  	
S-

	
Modification and Limited Waiver

	  	  	
AeroCentury

  

  

  

	
LENDER:

 

UMPQUA BANK

 

 

 

By:            

Name:                                                                                    

Title:            

 

 

 

	  

	  	
S-

	
Modification and Limited Waiver

	  	  	
AeroCentury

  

  

  

	
LENDER:

 

U.S. BANK NATIONAL ASSOCIATION

 

 

By:            

Name:                                                                                    

Title:            

 

 

 

	  

	  	
S-

	
Modification and Limited Waiver

	  	  	
AeroCentury

  

  

  

	
LENDER:

 

CATHAY BANK

 

 

 

By:            

Name:                                                                                    

Title:            

 

 

 

	  

	  	
S-

	
Modification and Limited Waiver

	  	  	
AeroCentury

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