Document:

Exhibit 10.2 - Amendment to MLA

Exhibit 10.2
Amendment No. RI0042B

AMENDMENT
TO THE
AMENDED AND RESTATED MASTER LOAN AGREEMENT

THIS AMENDMENT is entered into as of December 22, 2014, between CoBANK, ACB (“CoBank”) and The Maine Water Company, Saco, Maine, a Maine corporation (the “Company”).
BACKGROUND

CoBank and the Company are parties to an Amended and Restated Master Loan Agreement dated as of December 1, 2012 (such agreement is hereinafter referred to as the “MLA”).  CoBank and the Company now desire to amend the MLA.  For that reason, and for valuable consideration (the receipt and sufficiency of which are hereby acknowledged), CoBank and the Company agree as follows:

		
	1.
	Sections 8(A) and 8(B) of the MLA are hereby amended and restated to read as follows:

SECTION 8.    Negative Covenants.  Unless otherwise agreed to in writing by CoBank, while this Agreement is in effect, the Company will not:

(A)    Borrowings.  Create, incur, assume, or allow to exist, directly or indirectly, any indebtedness or liability for borrowed money, letters of credit, or the deferred purchase price of property or services (including leases which should be capitalized on the books of the lessee in accordance with GAAP (or the appropriate standards of the regulatory agency having jurisdiction over the Company)), except for:  (1) debt to CoBank; (2) accounts payable to trade creditors incurred in the ordinary course of business; (3) current operating liabilities (other than for borrowed money) incurred in the ordinary course of business; (4) existing indebtedness for borrowed money, including existing debt issued under the Indenture, and any refinance thereof in an amount not to exceed the then outstanding principal amount thereof; (5) unsecured debt of the Company to other lenders; (6) purchase money indebtedness in connection with the acquisition or leasing of equipment or other property; and (7) secured debt to the State Revolving Fund ("SRF") .

(B)    Liens.  Create, incur, assume, or allow to exist any mortgage, deed of trust, pledge, lien (including the lien of an attachment, judgment, or execution), security interest, or other encumbrance of any kind upon any of its property, real or personal (collectively, “Liens”).  The foregoing restrictions shall not apply to:  (1) Liens in favor of CoBank; (2) Liens for taxes, assessments, or governmental charges that are not past due; (3) pledges and deposits under workers’ compensation, unemployment insurance, and social security Laws; (4) pledges and deposits to secure the performance of bids, tenders, contracts (other than contracts for the payment of money), and like obligations arising in the ordinary course of business as conducted on the date hereof; (5) Liens imposed by Law in favor of mechanics, material suppliers, warehouses, and like persons that secure obligations that are not past due; (6) easements, rights-of-way, restrictions, and other similar encumbrances which, in the aggregate, do not materially interfere with the occupation, use, and enjoyment of the property or assets encumbered thereby in the normal course of business or materially impair the value of the property subject thereto; (7) existing liens, including liens and mortgages securing indebtedness issued pursuant to the Indenture; (8) purchase money liens so long as the lien is limited to the property being financed; and (9) secured liens in favor of SRF.

2.    Except as set forth in this amendment, the MLA, including all amendments thereto, shall continue in full force and effect as written.

IN WITNESS WHEREOF, the parties have caused this amendment to be executed by their duly authorized officers as of the date shown above.

	
		
	CoBANK, ACB
	The Maine Water Company

	 
	 

	By:  /s/  Shannon Devoran
	By:  /s/  Judith E. Wallingford

	 
	 

	Title:  Assistant Corporate Secretary
	Title:  PresidentExhibit 10.3 - Promissory Note

Exhibit 10.3
Loan No. RI0042T03

PROMISSORY NOTE AND
SINGLE ADVANCE TERM LOAN SUPPLEMENT

THIS PROMISSORY NOTE AND SUPPLEMENT (this “Promissory Note and Supplement”) to the Amended and Restated Master Loan Agreement dated as of December 1, 2012, as amended (the “MLA”) is entered into as of December 22, 2014 between The Maine Water Company, Saco, Maine, a Maine corporation (the “Company”) and CoBANK, ACB, a federally chartered instrumentality of the United States (“CoBank”).

SECTION 1.    The Term Loan.  On the terms and conditions set forth in the MLA and this Promissory Note and Supplement, CoBank agrees to make a loan to the Company in an amount not to exceed $4,500,000.00 (the “Commitment”).  The Commitment shall expire at 12:00 noon (Company’s local time) on December 22, 2014 or on such later date as CoBank may, in its sole discretion, authorize in writing.

SECTION 2.    Purpose.  The purpose of the Commitment is to refinance existing debt from a merger and to finance capital expenditures.

SECTION 3.    Availability.  Notwithstanding Section 2 of the MLA and provided that each of the conditions precedent set forth herein and in the MLA have been satisfied, the loan will be made available to the Company on a date to be agreed upon by the parties (the “Closing Date”).  The loan will be made available in a single advance by CoBank wire transferring the proceeds of the loan to  the Company.

SECTION 4.    Interest.  The Company agrees to pay interest on the unpaid balance of the loan(s) in accordance with one or more of the following interest rate options, as selected by the Company: 

(A)    Weekly Quoted Variable Rate.  At a rate per annum equal at all times to the rate of interest established by CoBank on the first Business Day of each week.  The rate established by CoBank shall be effective until the first Business Day of the next week.  Each change in the rate shall be applicable to all balances subject to this option and information about the then current rate shall be made available upon telephonic request.

(B)    Quoted Rate Option.  At a fixed rate per annum to be quoted by CoBank in its sole discretion in each instance.  Under this option, rates may be fixed on such balances and for such periods, as may be agreeable to CoBank in its sole discretion in each instance, provided that:  (1) the minimum fixed period shall be 180 days; (2) amounts may be fixed in increments of $100,000.00 or multiples thereof; and (3) the maximum number of fixes in place at any one time shall be five.

The Company shall select the applicable rate option at the time it requests a loan hereunder and may, subject to the limitations set forth above, elect to convert balances bearing interest at the variable rate option to one of the fixed rate options.  Upon the expiration of any fixed rate period, interest shall automatically accrue at the variable rate option unless the amount fixed is repaid or fixed for an additional period in accordance with the terms hereof.  Notwithstanding the foregoing, rates may not be fixed for periods expiring after the maturity date of the loans and rates may not be fixed in such a manner as to cause the Company to have to break any fixed rate balance in order to pay any installment of principal.  All elections provided for herein shall be made telephonically or in writing and must be received by 12:00 Noon Company’s local time.  Interest shall be calculated on the actual number of days each loan is outstanding on the basis of a year consisting of 360 days and shall be payable quarterly in arrears by the 20th day of the following month or on such other day in such month as CoBank shall require in a written notice to the Company.

SECTION 5.    Fees.  INTENTIONALLY OMITTED.

SECTION 6.    Promissory Note.  The Company promises to repay the unpaid principal balance of the loan on December 20, 2024, or such later date as CoBank may, in its sole discretion, authorize in writing.  If any installment due date is not a Business Day, then such installment shall be due and payable on the next Business Day.  In addition to the above, the Company promises to pay interest on the unpaid principal balance of the loan at the times and in accordance with the provisions set forth above.

SECTION 7.    Prepayment.  Subject to the broken funding surcharge provision of the MLA, the Company may prepay all or any portion of the loan(s).  Unless otherwise agreed, all prepayments will be applied to principal installments in the inverse order of their maturity and to such balances, fixed or variable, as CoBank shall specify.

SECTION 8.    Security.  Notwithstanding the provisions of the Security, Guarantee(s) and Title Insurance Section of the MLA to the contrary, except for CoBank’s statutory first lien on all equity that the Company may now own or hereafter acquire or be allocated in CoBank, the Company’s obligations hereunder shall be unsecured.

IN WITNESS WHEREOF, the parties have caused this Promissory Note and Supplement to the MLA to be executed by their duly authorized officers as of the date shown above.

	
		
	CoBANK, ACB
	The Maine Water Company

	 
	 

	By:  /s/  Shannon Devoran
	By:  /s/  Judith E. Wallingford

	 
	 

	Title:  Assistant Corporate Secretary
	Title:  PresidentEX-10.1

 Exhibit 10.1 
  

			
		  	International Business Machines Corporation
		  	Global Technical Services Council
		  	3039 Cornwallis Road Bldg 002/Rm 210
		  	Research Triangle Park NC 27709-2195
		  	Attention: Shyra Laws-Daniels - Phone (919) 486-2316

  

			
	Date:	  	November 07, 2014
		
	To:	  	CDI Corporation
		
	From:	  	Daniel Schaefer
		  	Program Director, US Technical Services
		  	Integrated Supply Chain
		
	Subject:	  	Amendment to Master Statement of Work (“MSOW”) # 4911023651-005

 Dear Supplier, 
 This letter
serves as Amendment No. 006 to the above Agreement which the parties thereto do mutually agree to amend as follows: 
  

	1.	The parties agree to modify Subsection 5.2 Extension to allow Buyer to extend the MSOW for an additional three (3) years instead of the one (1) year maximum, at the terms and conditions and
Prices currently in effect. 

  

	2.	The parties agree to extend the Expiration Date of the MSOW. The MSOW will be in effect until the later of December 31, 2017 or until Deliverables and Services are completed (“Expiration Date”).

  

	3.	Subsection 6.3 Asset Control first paragraph will be replaced with the following: 

“6.3 Asset Control” 

For purposes of this Subsection, the term “Buyer Assets” means information, information assets, supplies or other property, including
property owned by third parties (such as Buyer Customers) that is accessed by Supplier Personnel or provided to Supplier Personnel by (or on behalf of) Buyer. Supplier Personnel will: 

 

	4.	Subsection 6.7 Computer Use and Security Measures will be replaced in its entirety with the following: 

“6.7 Computer Use and Security Measures Agreement (“CUSA”) 

Buyer has established basic computer use and security measures that Supplier Personnel must comply with when accessing or using the internal
computer systems of Buyer. These measures are covered in a separate Computer Use and Security Measures Agreement (“CUSA”) that will be signed by Supplier. The separate CUSA replaces Schedule H in this MSOW. 

Supplier will ensure that all Supplier Personnel assigned to perform under this MSOW who are subject to the terms and conditions of the CUSA,
will comply with the use and security measures in the CUSA, as well as such other security measures, standards and requirements that may be issued by Buyer or Buyer’s Customer for a particular engagement.” 

	5.	Subsection 9.14 ITCS329 Agreement Requirements will be replaced in its entirety with the following: 

“9.14 IBM Data Security Agreement Requirements 

Supplier will sign a separate IBM Data Security Agreement that provides security measures to protect Buyer data provided to Supplier (or
accessible) by Supplier and stored on Supplier’s IT systems when performing Services.” 
  

	6.	Subsection 9.5 Use of Subcontractors item 1 will be replaced in its entirety with the following: 

“9.5 Use of Subcontractors 
  

	 	1.	Notwithstanding anything to the contrary in the Agreement between Supplier and Buyer, Supplier will not subcontract any of its work under this Agreement to any third party or Affiliate without Buyer’s written
consent. For any subcontractor Supplier proposes, Supplier will conduct all reviews and complete and submit any documentation as requested by Buyer prior to use and on an annual basis for those subcontractors who have previously been submitted.
Buyer has no obligation to agree to the use of any subcontractor and where Supplier is permitted to use a subcontractor, under no circumstances will Supplier permit any subcontractor to subcontract further. Upon Buyer’s request, Supplier will
immediately stop using a subcontractor. Notwithstanding this Subsection, Supplier’s use of subcontractors will not relieve Supplier of the responsibility for the subcontractor’s performance, and Supplier’s obligations and
responsibilities assumed under this Agreement will be made equally applicable to subcontractors.” 

  

	7.	Subsection 9.8 Business Associate Addendum will be replaced in its entirety with the following: 

“Subsection 9.8 Business Associate Agreement (“BAA”) 

The BAA is required for any and all goods or services provided which handle the “Protected Health Information” of “Covered
Entities”, which may include those required to store, provide data processing or aggregation services, or otherwise manage, administer, or operate such systems and services for health care industry entities. 

Supplier agrees to sign a Business Associate Agreement (“BAA”) which will be incorporated by reference into the Base Agreement when
executed between the parties. The BAA may be updated and/or modified from time to time in order to comply with local laws and unique Customer requirements and Supplier may, upon Buyer request, be required to sign a new BAA throughout the term of
this Agreement” 

	8.	Subsection 9.10 Financial Data Privacy Addendum will be replaced in its entirety with the following: 

“9.10 Federal Financial Institutions Examination Council Addendum 

The Federal Financial Institutions Examination Council (FFIEC) prescribes uniform principles and standards for the Federal examination of
financial institutions. The FFIEC Addendum contains data privacy requirements and is required when Supplier is a service provider to a financial institution to ensure compliance with the FFIEC regulations. Supplier agrees to comply with the FFIEC
Addendum which is attached as Schedule G and is incorporated by reference into the Agreement when executed between the parties. The FFIEC Addendum may be updated and/or modified from time to time in order to comply with local laws and unique
Customer requirements and Supplier may, upon Buyer request, be required to sign a new Addendum throughout the term of this Agreement.” 

Schedule G is now referred to “Federal Financial Institutions Examination Council Addendum”. The updated Schedule G is provided
below. 
  

	9.	Subsection 9.15 Federal Requirements will be replaced in its entirety with the following: 

“9.15 Federal Requirements 

Supplier agrees that in the event a WA is issued under this MSOW in support of a US Federal Government prime contract or subcontract at any
tier, Supplier shall comply with additional terms and conditions that the Federal Government requires to be flowed down and/or that the Buyer deems necessary to support a Federal engagement. These additional terms and conditions will be covered by a
separate Federal Addendum or by reference or full text within the WA. To the extent of any conflict or inconsistency with the terms and conditions of the MSOW, the terms and conditions of the Federal Addendum or WA shall govern and control.”

  

	10.	Subsection 13.3 Global Resources will be replaced in its entirety with the following: 

“13.3 Global Resources 

Supplier will use reasonable efforts to identify Global Resource opportunities and utilize such Global Resources in the performance of its
obligations under this Agreement when necessary to meet the requirements and skills needed quickly and cost effectively. Supplier will pass through the Global Resource rate from its Affiliate with the appropriate markup as defined in Schedule A to
Buyer. Supplier will be responsible to ensure that its Affiliate and the Global Resources comply with all of Supplier’s obligations and responsibilities under this Agreement. Supplier’s use of Global Resources will not relieve Supplier of
the responsibility for the Global Resource’s performance.” 
  

	11.	The following paragraph will be added at the end of Subsection 14.2 Payment Due: 

“14.2 Payment Due 

The parties agree to modify the payment terms each year over the next three years in accordance with the terms below: 

Starting January 1, 2015 through December 31, 2015, payment terms will be net 65 days, January 1, 2016 through December 31,
2016, payment terms will be net 70 days, and January 1, 2017 through December 31, 2017, payment terms will be net 75 days.” 

 Except as amended herein, all other terms and conditions of the subject Agreement shall remain in full force and
effect. 
 The parties acknowledge that they have read this Amendment, understand it, and agree to be bound by its terms and conditions. Further, they agree
that this Amendment and the subject Agreement are the complete and exclusive statement of the agreement between the parties, superseding all proposals or other prior agreements, oral or written, and all other communications between the parties
relating to this subject. 
 This Amendment will be effective on the date last signed by the parties. 

Please have your authorized representative indicate acceptance thereof by signing the Amendment. Please return the signed Amendment as a .pdf file via email
to the following email address: tsadmral@us.ibm.com by November 21, 2014 to the attention of Shyra Laws-Daniels at the address above. 
  

									
		 	ACCEPTED AND AGREED TO:	 		 		 	ACCEPTED AND AGREED TO:
		 	 International Business Machines Corporation

3039 Cornwallis Road
 Research Triangle Park, NC
27709-2195
	 		 		 	 CDI Corporation
 17177 Preston Road,
Suite, Suite 300
 Dallas, TX 75248

					
		 	 By:
  

/s/ Daniel Schaefer
                                12/4/2014
	 		 		 	 By:
  

/s/ Dirk Dent
                                11/20/2014 10:03 AM

		 	Buyer
Signature                                     Date	 		 		 	Supplier Signature                                 Date
					
		 	 Dan Schaefer
	 		 		 	 Dirk Dent

		 	Printed Name	 		 		 	Printed Name
		 	 Program Director, US Technical Services

Integrated Supply Chain
	 		 		 	 VP Enterprise Client Executive

		 	Title & Organization	 		 		 	Title & Organization

 Very truly yours, 
 Daniel
Schaefer 
 Program Director of US Technical Services

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