Document:

EX-10.22

Exhibit 10.22

LEASE AGREEMENT

          THIS AGREEMENT OF LEASE, hereinafter referred to as “Lease”, made this 5th day of December,
1997, by and between BDM Properties, an Ohio General Partnership, Kenneth A. MacLaren, Managing
Partner, with its mailing address at 2915 Secretariat Road, Toledo, Ohio 43615, hereinafter
referred to as “Lessor”, and Professional Office Services, Inc., an Ohio Corporation, with its
principal office located at 909 Phillips Avenue, Toledo, Ohio 43612, hereinafter referred to as
“Lessee” such references also including the heirs, executors, personal representative, successors
and assigns of said parties whenever the context so admits.

WITNESSETH:

          The Lessor, for and in consideration of the payment of the rent as hereinafter provided for
and the performance of the covenants hereinafter set forth to be kept and performed by Lessee, does
hereby lease unto said Lessee a 93,000 square foot building located at 100 N. Byrne Road, Toledo
Ohio 43607 (hereinafter referred to as the “Demised Premises”) substantially located as shown upon
the attached Site Plan, which is hereby made part hereof (see Exhibit “A”). The premises (the
“shopping center”) upon which the Demised Premises is located, as shown on Exhibit “B”, attached
hereto and is hereby made a part thereof. This Lease is made for the term hereinafter set forth:

     1. TERM. The original term of this lease of the Demised Premises shall be for a
Fifteen (15) year period. The Lessor and Lessee agree that the commencement date of this Lease
shall be on March 1, 1998. Lessee shall have possession of the Demised Premises with the issuance
of the building permit. Rent for the first month of this lease shall be prorated accordingly, if
the commencement date is other than the first of the month. There shall be no lease payments due
during the tenant improvement period (prior to March 1, 1998). In the event the Lessor is unable
to obtain the proper permits from the required public agencies, the Lessor and Lessee agree the
this Lease shall become null and void.

     2. TENANT IMPROVEMENTS. Lessor will substantially complete the tenant improvements to
the building at its sole expense on or before March 1, 1998. In the event Lessor shall be delayed
or hindered in, or prevented from the performance of any act required under the Lease (other than
the payment of rent or other charges payable by Lessee) by reason of strikes, walkouts, labor
troubles, inability to procure materials, failure of power, riots, insurrections, material adverse
site conditions, failure to act or default of the Lessor, war, material adverse weather, or any
other reason, whether similar or dissimilar from the foregoing, beyond the reasonable control of
the Lessee, then performance of such act shall be excused for the delay and the period of the
performance of any such act shall be extended for a period equivalent to the period of such delay.

     3. USE OF BUILDING. The Demised Premises is to be used solely for light
industrial/office use, and, in any event, in accordance with the applicable provisions of all
federal, state, and local laws, rules, regulations, and ordinances. The Demised

 

 

Premises shall not otherwise be used or occupied except upon and with the written consent of
the Lessor, not to be unreasonably withheld or delayed.

          Lessee will use and keep the Demised Premises in a careful, safe and proper manner and will
fully comply with and obey all laws, rules, ordinances, regulations and requirements of all
regularly constituted authorities that in any way affect the Demised Premises. The Lessee will
carefully conduct and guard all fires in the Demised Premises. The Demised Premises shall not be
used or occupied for any other purpose or business deemed extra-hazardous due to fire or otherwise.

     4. OTHER BUILDINGS. Exhibit “A” indicates the approximate size, shape and location of
buildings erected on the Shopping Center. Lessor reserves the right to alter the size shape,
number and location of said buildings (other than the Demised Premises) when and if it deems such
changes are necessary. Lessor shall not lease or permit the construction or addition of any
improvements in the parking area or other common areas of the Shopping Center that would in any way
interfere with the operation of Lessee’s business or affect Lessee’s customers, visibility of
Lessee’s signs from any streets or roadway traffic that now exists, and further construction or
improvements shall not be allowed that would interfere with the Lessee’s customers’ ingress or
egress or that would interfere with the ability of Lessee’s customers’ vendors to park in places
convenient to Lessee’s building improvement. Such “no-build” areas include those marked on Exhibit
“A” attached hereto and identified in blue.

     5. PARKING AREAS AND OTHER COMMON AREA. Lessor gives and grants to Lessee any and all
easements over all portions of the Shopping Center which are now or hereafter designated as
improved or as loading delivery areas, said easement to be in common with easements of all other
tenants of all buildings located in the Shopping Center, and in common with easements which Lessor
may in its discretion grant from time to time to owners and/or occupants or any real estate
adjoining the shopping center so long as such easements do not interfere with Lessee’s use
enjoyment of the existing easement areas. Said easement areas shall be utilized, as the case may
be, for unobstructed pedestrian traffic and use for the access, egress and parking of automobiles
and other passenger vehicles of Lessee and said other easement grantees, and the agents and
employees of, and persons doing business or trading with Lessee and said other easement grantees.

     6. RENT AND SECURITY DEPOSIT. Lessee will pay Lessor as rent for the Demised Premises
the sum as follows:

	 	 	 
	March 1, 1998 to February 28, 2003:
	 	$38,125.00 per month
	March 1, 2003 to February 28, 2008:
	 	$41,937.50 per month
	March 1, 2008 to February 28, 2013:
	 	$46,131.25 per month

Rent shall be due in the office of the Lessor on the first day of each month in advance. In the
event (a) any installment of rent is not paid within ten (10) days of the due date, or (b) any
check from Lessee is dishonored, Lessee agrees to pay interest on the unpaid rent at the rate of
1.5% per month. The grace period provided in this Section is strictly related

to the damages for a late payment and in no way modifies or stays Lessee’s obligation to pay rent
in a timely fashion as otherwise provided herein.

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	to the damages for a late payment and in no way modifies or stays Lessee’s obligation to pay rent
in a timely fashion as otherwise provided herein.

     7. MAINTENANCE AND LIGHTING OF PARKING AREA. Lessee shall maintain and keep in good
repair, at Lessee’s expense, their parcel as shown on Exhibit A. Lessee shall keep said area clear
of all debris, snow, ice, etc.; maintain all landscaping; and maintain sufficient lighting for
parking area. In the event that parking lot sweeping, snow plowing, or salting is covered by a
master contract, Lessee shall pay Lessor their pro-rata share of said invoices.

     8. REAL ESTATE TAXES. For the purpose of this article, the term “General Real Estate
Tax” shall mean the usual and customary taxes regularly and periodically assessed against real
property, and shall also include any special or extraordinary assessment which may be levied or
charged against the leased premises. In the case of a lump sum assessment which may be paid in
annual or other periodic installments over a period of years, the smallest installments which
Lessor may have the option to pay during any tax year shall be deemed to be the amount payable for
such year.

          Lessee shall be responsible for all real estate taxes, land and building, for Lessee’s demised
premises. Any payment required to be made by Lessee pursuant to this article shall be made twenty
(20) days after the date of receipt of the tax bill from Lessor. Such payment shall be due in
respect of the tax year during which the term of this lease, or any extensions thereof, commences,
expires or terminates, such payment shall be adjusted and prorated on the basis of the number of
months in such tax year during which Lessee actually occupies the leased premises. Nothing herein
or in this Lease otherwise contained shall require or be construed to require Lessee to pay any
inheritance, estate, gift, franchise or income taxes that are or may be imposed upon Lessor, its’
successors or assigns, for any real property taxes which are caused by a re-assessment of the
property due to a sale or transfer.

LESSEE’S COVENANTS

          As a further consideration of the leasing of the Demised Premises as aforesaid, and for this
Lease, the Lessee covenants and agrees as follows:

     9. PAY RENT. The Lessee will pay to the Lessor the rent for the Demised Premises
together with all other charges provided for in this Lease, in lawful money of the United States of
America, without demand and without any deduction whatsoever, at the Lessor’s address set forth
above, or at such other place and to such other person, persons, or corporation as Lessor may from
time to time direct in writing, and payment pursuant to such instruction shall constitute payment
hereunder. If paid by check, same must be good on presentation to the bank upon which it is drawn.

     10. USE. The Lessee shall not use, occupy, or suffer, or permit the Demised Premises,
or any part thereof, to be used in any manner or occupied for any purpose contrary to law or the
rules and regulations of any public authority, or in any manner deemed extra-hazardous on account
of fire or otherwise, or so as to increase the cost of

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fire and other hazard insurance over and above the normal cost of such insurance for the type
and location of the Demised Premises.

     11. UTILITIES. The Lessee agrees to be responsible and pay for all charges and bills
for water, sewer, gas and electric current which the applicable utility company may assess or
charge Lessee for its use or consumption during said term.

     12. PERSONAL PROPERTY. The Lessee further agrees that all personal property of every
kind or description that may at any time be in or on the shopping center shall be at the Lessee’s
sole risk, or at the risk of those claiming under the Lessee, and that the Lessor shall not be
liable for any damage to said property or loss suffered by the business or occupation of the Lessee
caused in any manner whatsoever, and irrespective of whether such damage or loss shall have been
caused by any act or omission or negligence on the part of Lessor, its agents, employees and
invitees or of other tenants of buildings located on or in the shopping center, their agents,
employees, customers and other invitees.

     13. LESSEE’S REPAIRS. The Lessee agrees to and does hereby assume and agree to pay
for all cost for and to assume all responsibility for maintaining, repairing, keeping up and,
replacing in whole or in part, the Demised Premises, it being further understood that Lessee will
also keep Demised Premises in such repair and condition as may be required by the Board of Health,
or the City, State, or other Federal authorities, free of all cost to the Lessor.

     14. WASTE. The Lessee covenants that Lessee will use, maintain and occupy the Demised
Premises in a careful, safe, lawful manner and will not commit waste thereon. The Lessee agrees
that any dumpsters shall be kept on the north or east side of the Demised Premises.

     15. ALTERATIONS. Lessee shall make any alterations, additions, or improvements to the
Demised Premises at its own cost and expense, without reimbursement or consent by Lessor, by making
such alterations, changes, and further improvements to the Premises from time to time considered
necessary or desirable to Lessee’s business on the Premises, or the sales therein. All proposed
alterations, additions or improvements to the Premises shall be made only in conformity and
compliance with all applicable building laws, ordinances and regulations. No alteration or change
to the Premises shall be made which would substantially lessen the value of the assets located on
the Premises. All alterations, improvements, changes or additions to the Premises shall become a
part of the Premises.

          The Lessee further covenants not to alter or permit alterations or additions of or upon any
part of the Demised Premises except by and with the prior written consent of the Lessor, consent
not to be unreasonably withheld or delayed. Lessor shall notify Lessee of its objections within
twenty (20) days of Lessee’s request to make alterations. If no objections are made within such
20-day period, the alterations shall be deemed approved by Lessor.

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     16. DAMAGES. The Lessee covenants at all times to save the Lessor harmless from and
to indemnify and defend Lessor against all loss, cost, injury, damages, death, liability, suits,
claims, judgments and liens of every kind and nature that may occur or be claimed by, to or with
respect to the Demised Premises. Said Lessee shall carry sufficient insurance which will cover the
possibility of any person or persons using said Demised Premises from any injury whatsoever. In
the event Lessor shall suffer any damages as a result of Lessee’s breach of this Lease, it shall be
incumbent upon Lessor in all instances to exercise a diligent effort to mitigate its’ damages.

     17. SUBLEASE OR ASSIGNMENT. The Lessee covenants not sublease the Demised Premises or
any part thereof, nor to assign this lease, without prior written consent of the Lessor, consent
not to be unreasonably withheld or delayed. An assignment for the benefit of creditors of the
Lessee or by the operation of law shall not be effective to transfer or assign Lessee’s interest
herein without and unless the Lessor shall have first consented thereto in writing. The within
prohibition against transfer or assignment without the Lessor’s prior written consent excludes any
subletting or assignment which occurs as a result of any merger, consolidation, combination or
corporate reorganization, or an assignment to a subsidiary of Lessee. Any assignment, subletting
or other transfer, even with the consent of Lessor, shall not relieve Lessee from primary
responsibility for payment of rent or from the primary obligation to keep or be bound by the terms,
conditions and covenants of this Lease.

     18. INSURANCE. Lessee agrees to carry and to maintain at its own expense public
liability insurance in the amount of not less than $1,000,000.00 and personal property damage in
the amount of not less than $250,000.00 covering Lessee’s use and occupancy of the Demised Premises
and its operations and therefrom in form from time to time satisfactory to Lessor and naming Lessor
therein and all of Lessor’s mortgagees (as requested by Lessor from time to time) as an additional
insured; said insurance to be written by a reputable company.

          Lessee further agrees to carry and maintain fire and extended coverage insurance on the
Demised Premises and improvements on the Premises against loss or damage by fire, windstorm, and
all other extended coverage risks ordinarily insured by standard policies of insurance for the full
undepreciated replacement cost thereof.

          All policies of insurance required by this lease shall delivered to Lessor, shall be in the
form and substance satisfactory to the Lessor and shall contain endorsements requiring said
insurance companies to give Lessor not less than thirty (30) days prior written notice of any
policy change or cancellation.

MUTUAL COVENANTS

          The parties hereto mutually covenant and agree as follows:

     19. SURRENDER. The Lessee covenants and agrees to deliver up and surrender to the
Lessor the physical possession of the Demised Premises upon the expiration of this Lease or its
termination as herein provided in as good condition and

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repair as the same shall be at the commencement hereof, and no tenancy of any duration shall
be created by holding over beyond the end of the term.

     20. MAINTENANCE, REPAIR AND REPLACEMENT BY LESSEE. Lessee shall keep and maintain the
building to be constructed on the Demised Premises in good tenantable condition during the term of
this Lease, normal wear and tear excepted.

     21. SIGNS. The Lessee may, at Lessee’s own risk and expense, lawfully erect signs
concerning its business upon the Demised Premises. No signs shall be erected or altered on the
exterior thereof without Lessor’s prior written approval, not to be unreasonably withheld or
delayed, as to design and location, and unless said signs comply with the sign criteria of the
Toledo City Sign Department. Lessee shall maintain all signs in a good state of repair, shall save
Lessor harmless from any loss, cost or damage caused by the erection, existence, maintenance, or
removal thereof and shall repair any damage resulting therefrom. At the end this term, or any
extension or renewal thereof, Lessee shall remove said signs and repair any damage caused thereby.

     22. TRADE FIXTURES. At or before the time of surrender the Demised Premises to
Lessor, Lessee may remove the trade fixtures from the building, provided all rents stipulated to be
paid in full and all damage to the Demised Premises is properly repaired.

     23. QUIET ENJOYMENT. The Lessor covenants that Lessor is lawfully seized of and in
possession of the Demised Premises and agrees that if the Lessee shall promptly pay the rent and
performs all the covenants and agreements herein stipulated to be performed on the Lessee’s part,
the Lessee shall have the peaceable and quiet enjoyment and possession of the Demised Premises
during the term of this Lease and any extensions hereof without any manner of hindrance, subject to
the condition herein set forth.

     24. WAIVER OF SUBROGATION. It is understood and agreed that loss by fire or other
damage covered by insurance to the Demised Premises or any part thereof or to any property of the
Lessee located therein or the business of the Lessee conducted therein shall mean such loss however
caused, and the Lessor and Lessee each agree to waive all rights of recovery, and causes of action
against the other, their lessees, assignees, and sub-tenants for any damages suffered by either
caused by any of the perils covered by fire and extended coverage insurance policies, provided,
however, that in the event it becomes impractical for either party to obtain insurance coverage at
standard rates because of the above provision of waiver, then this provision shall be void.

     25. EMINENT DOMAIN. In the event that the Demised Premises or any part thereof is
taken in condemnation proceedings or by right of eminent domain, then Lessee may cancel this Lease
by written notice within thirty (30) days following such taking. In the event of a taking of any
ingress, egress or drainage within the easement area identified in paragraph 5 hereof, Lessee shall
have the option to either (a) cancel this Lease, or (b) reduce the rent proportionately. If Lessee
does not elect to cancel, then this Lease shall continue in full force and effect. In the event of
any taking by right of

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eminent domain or in any appropriation proceeding involving the Demised Premises or any part
thereof, Lessor shall be entitled to keep any award pertaining to the land and Lessee shall be
entitled to keep any award pertaining to their improvement (building or sign), Lessee waiving and
hereby indemnifying Lessor against any claim by, through or on behalf of Lessee for damages
resulting from such taking.

     26. LACHES. No waiver of any covenants or conditions or the breach of any covenant or
condition of this Lease shall be taken to constitute a waiver of any subsequent breach of such
covenant or condition nor justify or authorize the non-observance on any other occasion of the same
or any other covenant or condition hereof, nor shall the acceptance of rent by the Lessor at any
time when the Lessee is in default under covenant or condition hereof, nor shall the acceptance of
rent by the Lessor at any time when the Lessee is in default under any covenant or condition hereof
be construed as a waiver of such default, nor shall any waiver or indulgence granted by the Lessor
to the Lessee be taken as an estoppel against the Lessor, it being expressly understood that if at
any time the Lessee shall be in default in any of the covenants or conditions hereunder, an
acceptance by the Lessor: of rental during the continuance of such default or of the failure on the
part of the Lessor promptly to avail itself of such other rights or remedies as the Lessor may
have, shall not be construed as waiver of such default; but the Lessor may at any time thereafter,
if such default continues, take any action it deems necessary on account of such default, in the
manner provided herein. Every demand for rent due wherever and whenever made, shall have the same
effect as if made at the time it falls due and at the place of payment; and after the service of
any notice of commencement of any suit or final judgment therein, Lessor may receive and collect
any rent due, and such collection or receipt shall not operate as a waiver of nor affect such
notice, suit or judgment.

     27. DEFAULT. It is further agreed that if any rent payment or any part thereof, or
any other payment of money due hereunder from Lessee, shall at any time be in arrears and unpaid
for a period of fifteen (15) days after written notice given, and if said Lessee shall fail to keep
and perform any of the covenants, or conditions of this Lease on its part to be kept or performed,
or if said Lessee shall abandon or vacate the Demised Premises for more than thirty (30) days
during the term hereof or shall make an assignment for the benefit of creditors or if the interest
of the Lessee in the Demised Premises shall be sold under execution or other legal process, or if
the Lessee shall be adjudged a bankrupt or if a receiver or trustee shall be appointed for the
Lessee by any court, the Lessor may at Lessor’s election at any time thereafter while such
condition exists, and if such default is in the payment of Lease rent and same is not paid within
said fifteen (15) day period, or if such default is in some other condition herein named, and same
is not remedied within a thirty (30) day period after written notice, then the Lessor may lawfully
re-enter the Demised Premises or any part thereof and repossess the same as of the former estate of
the Lessor and expel the Lessee and those claiming under and through it and remove all persons and
effects therefrom (forcibly if necessary), without being deemed guilty of any manner of trespass
and without prejudice to any remedy which might otherwise be used for arrears of rent or other
breach of covenant, and upon entry as aforesaid, the rights of the Lessee under this Lease shall
terminate and the Lessee

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covenants that in case of such termination, Lessee will indemnify the Lessor against all loss
of rent.

     28. RECORDING. Lessor and Lessee agree that this Lease shall not be recorded, but
that a Memorandum of Lease thereof containing the information set forth in the first section of
Chapter 5301.251 of the Revised Code may be recorded.

     29. RULES OF CONSTRUCTION. Where necessary herein the terms “Lessor” and “Lessee”
shall apply to the plural, or to the agents or employees of Lessor or Lessee and the term
“successors” shall include heirs.

     30. NOTICES. All notices required hereunder shall be in writing and shall be mailed
by certified or registered mail addressed to the Lessor at its mailing address, 2915 Secretariat
Road, Toledo, Ohio 43615, or the Lessee at its address 909 Phillips Avenue, Toledo, Ohio 43612, and
such posting and the date thereof shall be sufficient proof hereunder. Any party desiring notice
to be changed to an address different from that given above shall give notice of such desire to the
other party in accordance herewith.

     This Lease shall inure to the benefit not only of the Lessor and of the Lessee, but of the
respective heirs, personal representative, successors and assigns of said Lessor and Lessee,
limited, however, by the provisions herein expressed to the contrary.

     31. OPTION TO RENEW. Lessor grants to Lessee the right and privilege to renew this
Lease for Two (2) Five-Year option terms, commencing at the end of the original term, if, and only
if, the Lessee is not in default of any of the terms and conditions of this Lease, as of the time
such option is exercised, and as of the end of the original term; provided that Lessee shall
exercise such option by notice in writing which shall be mailed by certified or registered mail
address to the Lessor at its address shown in Paragraph 30 hereof, and received by Lessor not less
than six (6) months prior to expiration of the original term hereof. The renewal option, if
exercised, shall be upon the same terms and conditions contained in this Lease, except that the
rental for each renewal term shall be increased by an amount equal to the percentage increase in
the Revised Consumer Price Index for Urban Wage Earners and Clerical Workers (all cites) Published
by the U. S. Bureau of Labor Statistics (the “CPI”) for the last month of the previous Lease
Period over the CPI of the first month of the previous Lease Period. Said CPI increases shall not
exceed three percent (3%) per year.

     32. LEASEHOLD MORTGAGE.

          32.1 Lessee shall have the right to mortgage its interest in this lease to a bank, insurance
company or other bona fide institutional lender reasonable satisfactory to Lessor, provided that
any such leasehold mortgage shall be subject and subordinate to the rights of the Lessor hereunder
and provided that all the terms and conditions of the mortgage loan are reasonably satisfactory to
Lessor.

          32.2 If Lessee shall mortgage its interest in this lease in accordance with this Section 32,
and if Lessee or the leasehold mortgagee shall have notified Lessor in the

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manner hereinafter provided for the giving of notice by Lessee to Lessor of the address to
which any notices to the leasehold mortgagee are to be mailed, then Lessor shall not be empowered
to terminate this lease by reason of the occurrence of any default, unless and until Lessor shall
have given the leasehold mortgagee a copy of its notice to Tenant of such default and leasehold
mortgagee has received an opportunity to cure such default as provided in Section 32.3 below.

          32.3 The leasehold mortgagee shall have the right to remedy any default under this lease or to
cause the same to be remedied and Lessor shall accept such performance by or at the instance of
such leasehold mortgagee as if the same had been made by Lessee. There shall be added to any grace
period allowed by the term of this lease to Lessee for curing any default, an additional ten (10)
days (or if a non-monetary default cannot be reasonably cured within said ten-day period, and the
leasehold mortgagee thereafter diligently pursues to cure such default, such additional period as
is required), for such leasehold mortgagee to cure the same beyond the time allowed to Lessee.

          Only the leasehold mortgagee may become the legal owner and holder of Lessee’s leasehold
estate under this lease by foreclosure its leasehold mortgage or as a result of the assignment of
Lessee’s leasehold interest in lieu of foreclosure. In such event, the leasehold mortgagee shall
be deemed to have assumed all of Lessee’s past and future liabilities and obligations under this
lease. Any future assignment of this lease by the leasehold mortgagee shall be subject to all of
the assignment provisions of this lease.

          32.5 In the event of termination of this lease or of any succeeding lease made pursuant to the
provisions of this lease prior to its expiration date, Lessor will enter into a new lease of the
premises with the leasehold mortgagee, for the remainder of the term, effective as of the date of
such termination, at the rent, additional rent and upon the covenants, agreements, provisions and
terms hereof, including the options to renew, provided that the leasehold mortgagee makes written
request to Lessor for such new lease within thirty (30) days from the date of such termination and
such written request is accompanied by payment of all amounts then due to Lessor and by curing of
any other defaults which are susceptible of being cured by the payment of money.

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     IN WITNESS WHEREOF, the parties hereto have executed this Lease Agreement, in duplicate, on
the day and year first above written.

	 	 	 	 	 	 	 
	WITNESS:	 	LESSOR:	 	 
	 
	 	 	 	 	 	 
	/s/	 	BDM PROPERTIES,

an Ohio General Partnership:	 	 
	 

	 	 	 	 	 	 
	/s/

	 	By:	 	/s/ Kenneth A. MacLaren	 	 
	 

	 	 	 	 

	 	 
	 	 	 	 	     Kenneth A. MacLaren	 	 
	 	 	 	 	     Managing Partner	 	 
	 
	 	 	 	 	 	 
	 	 	LESSEE:	 	 
	 
	 	 	 	 	 	 
	/s/	 	PROFESSIONAL OFFICE SERVICES, INC., an Ohio Corporation:	 	 
	 

	 	 	 	 	 	 
	/s/

	 	By:	 	/s/ Richard B. McIntyre	 	 
	 

	 	 	 	 

	 	 
	 	 	 	 	     Richard B. McIntyre	 	 
	 	 	 	 	     President	 	 

ACKNOWLEDGEMENT OF LANDLORD

	 	 	 	 	 	 	 
	State of Ohio

	 	 	)	 	 	 
	 

	 	ss:
	 	 
	County of Lucas

	 	 	)	 	 	 

     BEFORE ME, a Notary Public in and for said county and state personally appeared the above
named BDM Properties, an Ohio General Partnership, by Kenneth A. MacLaren, Managing Partner, who
acknowledged that he did sign the foregoing instrument and that the same is his free act and deed.

     WITNESS my hand and official seal at Toledo, Ohio this 5th day of December, 1997.

	 	 	 	 	 	 	 
	 	 	/s/
Lillian
J. Day	 	 
	 	 	Notary Public	 	 
	 
	 

	 	My commission expires
	 	 

	 	 

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EXHIBIT

11

 

EXHIBIT “A”

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ACKNOWLEDGEMENT OF CORPORATE TENANT

	 	 	 	 	 	 	 
	State of Ohio

	 	 	)	 	 	 
	 

	 	ss:
	 	 
	County of Lucas

	 	 	)	 	 	 

     BEFORE ME, a Notary Public in and for said county and state personally appeared the above
named Professional Office Services, Inc., by Richard B. McIntyre, its President, who acknowledged
that the seal of said corporation, and that said instrument was signed and sealed in behalf of said
corporation by the authority of its Board of Directors and further acknowledges before me said
instrument to be the free act and deed of said corporation.

     WITNESS my hand and official seal at Toledo, Ohio this 5th day of December, 1997.

	 	 	 	 	 	 	 
	 	 	   	 	 
	 	 	Notary Public	 	 
	 
	 

	 	My commission expires
	 	 

	 	 

13exv10w62

Exhibit 10.62

SECOND LOAN MODIFICATION AGREEMENT

     This Second Loan Modification Agreement (this “Loan Modification Agreement”) is entered into
as of Feb 6, 2009, by and among (a) SILICON VALLEY BANK, a California corporation, with its
principal place of business at 3003 Tasman Drive, Santa Clara, California 95054 (“Bank”) and (b)
FINISAR CORPORATION, a Delaware corporation, with its chief executive office located at 1399
Moffett Park Drive, Sunnyvale, California 94089 (“Finisar”) and OPTIUM CORPORATION, a Delaware
corporation, with its principal place of business at 500 Horizon Drive, Suite 505, Chalfont,
Pennsylvania 18914 (“Optium”) (hereinafter, Finisar and Optium are jointly and severally,
individually and collectively, referred to as “Borrower”).

1. DESCRIPTION OF EXISTING INDEBTEDNESS AND OBLIGATIONS. Among other indebtedness and
obligations which may be owing by Borrower to Bank, Borrower is indebted to Bank pursuant to a loan
arrangement dated as of March 14, 2008, evidenced by, among other documents, a certain Loan and
Security Agreement dated as of March 14, 2008, among Borrower and Bank, as affected by a certain
Joinder Agreement dated as of October 30, 2008, and as amended by a certain First Loan Modification
Agreement dated as of October 30, 2008 (as amended and affected, the “Loan Agreement”). Capitalized
terms used but not otherwise defined herein shall have the same
meaning as in the Loan Agreement.

2. DESCRIPTION OF COLLATERAL. Repayment of the Obligations is secured by the Collateral as
described in the Loan Agreement (together with any other collateral security granted to Bank, the
“Security Documents”). Hereinafter, the Security Documents, together with all other documents
evidencing or securing the Obligations shall be referred to as the “Existing Loan Documents”.

3. DESCRIPTION OF CHANGE IN TERMS.

     A. Modifications to Loan Agreement.

	 	1	 	The Loan Agreement shall be amended by deleting the following text, appearing in
Section 6.2(a) thereof:

“(ii) as soon as available, but no later than ninety (90) days after
the last day of Borrower’s fiscal year (or, by April 30, 2008 with
respect to Borrower’s fiscal year ended April 30, 2007), audited
consolidated financial statements prepared under GAAP on form 10-K,
consistently applied, together with an unqualified opinion on the
financial statements from an independent certified public accounting
firm acceptable to Bank in its reasonable discretion;”

	 	 	 	and inserting in lieu thereof the following:

“(ii) as soon as available, but no later than the earlier to occur of
(A) five (5) days after filing its Form 10-K with the Securities and
Exchange Commission, and (B) ninety (90) days after the last day of
Borrower’s fiscal year, audited consolidated financial statements
prepared under GAAP on Form 10-K, consistently applied, together with
an unqualified opinion on the financial statements from an
independent certified public accounting firm acceptable to Bank in
its reasonable discretion;”

	 	2	 	The Compliance Certificate appearing as Exhibit B to the Loan Agreement is
hereby replaced with the Compliance Certificate attached hereto as Schedule 1.

B. Waivers. Bank hereby waives Borrower’s existing default under the Loan Agreement
by virtue of Borrower’s failure to comply with the financial covenant set forth in Section
6.7(a) of the Loan Agreement (relative to the requirement that Borrower maintain a certain
Adjusted Quick Ratio) as of the months ended

 

 

November 30, 2008 and December 31, 2008. Bank’s waiver of Borrower’s compliance with such
covenant shall apply only to the foregoing specific periods.

4. FEES. Borrower shall pay to Bank a modification fee equal to Seven Thousand Five
Hundred Dollars ($7,500.00), which fee shall be due on the date hereof and shall be deemed
fully earned as of the date hereof. Borrower shall also reimburse Bank for all legal fees and
expenses incurred in connection with this Loan Modification Agreement.

5. RATIFICATION OF PERFECTION CERTIFICATES.

     (a) Finisar hereby ratifies, confirms and reaffirms, all and singular, the terms and
disclosures contained in a certain Perfection Certificate dated as of March 14, 2008 between
Finisar and Bank, and acknowledges, confirms and agrees that the disclosures and information
Finisar provided to Bank in the Perfection Certificate have not changed, as of the date hereof.

     (b) Optium hereby ratifies, confirms and reaffirms, all and singular, the terms and
disclosures contained in a certain Perfection Certificate dated as of October 30, 2008 between
Optium and Bank, and acknowledges, confirms and agrees that the disclosures and information Optium
provided to Bank in the Perfection Certificate have not changed, as of the date hereof.

6. CONSISTENT CHANGES. The Existing Loan Documents are hereby amended wherever
necessary to reflect the changes described above.

7. RATIFICATION OF LOAN DOCUMENTS. Borrower hereby ratifies, confirms, and reaffirms all
terms and conditions of all security or other collateral granted to the Bank, and confirms that the
indebtedness secured thereby includes, without limitation, the Obligations.

8. NO DEFENSES OF BORROWER. Borrower hereby acknowledges and agrees that Borrower has no
offsets, defenses, claims, or counterclaims against Bank with respect to the Obligations, or
otherwise, and that if Borrower now has, or ever did have, any offsets, defenses, claims, or
counterclaims against Bank, whether known or unknown, at law or in equity, all of them are hereby
expressly WAIVED and Borrower hereby RELEASES Bank from any liability
thereunder.

9. CONTINUING VALIDITY. Borrower understands and agrees that in modifying the existing
Obligations, Bank is relying upon Borrower’s representations, warranties, and agreements, as set
forth in the Existing Loan Documents. Except as expressly modified pursuant to this Loan
Modification Agreement, the terms of the Existing Loan Documents remain unchanged and in full force
and effect. Bank’ s agreement to modifications to the existing Obligations pursuant to this Loan
Modification Agreement in no way shall obligate Bank to make any future modifications to the
Obligations. Nothing in this Loan Modification Agreement shall constitute a satisfaction of the
Obligations. It is the intention of Bank and Borrower to retain as liable parties all makers of
Existing Loan Documents, unless the party is expressly released by Bank in writing. No maker will
be released by virtue of this Loan Modification Agreement.

10. COUNTERSIGNATURE. This Loan Modification Agreement shall become effective only when it
shall have been executed by Borrower and Bank.

[The remainder of this page is intentionally left blank]

 

 

     This Loan Modification Agreement is executed as a sealed instrument under the laws of the
State of California as of the date First written above.

	 	 	 	 	 	 	 	 	 	 	 
	BORROWER:	 	 	 	BANK:	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	FINISAR CORPORATION	 	 	 	SILICON VALLEY BANK	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	BY:

	 	/s/ S. K. Workman
	 	 	 	BY:
	 	/s/ Nick Tsiagkas	 	 
	 

	 	 
	 	 	 	 	 	 	 	 
	Name:

	 	S. K. Workman
	 	 	 	Name:
	 	Nick Tsiagkas	 	 
	Title:

	 	CFO
	 	 	 	Title:
	 	Relationship Manager	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	OPTIUM CORPORATION	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	BY:

	 	/s/ S. K. Workman	 	 	 	 	 	 	 	 
	Name:

	 	 

S. K. Workman
	 	 	 	 	 	 	 	 
	Title:

	 	CFO	 	 	 	 	 	 	 	 

 

 

SCHEDULE 1

EXHIBIT B

COMPLIANCE CERTIFICATE

			
	 	 	 
	TO:      SILICON VALLEY BANK	 	Date:                     

FROM: FINISAR CORPORATION and OPTIUM CORPORATION

          The
undersigned authorized officer of FINISAR CORPORATION and OPTIUM CORPORATION (“Borrower”)
certifies that under the terms and conditions of the Loan and Security Agreement between Borrower
and Bank (as amended,
the “Agreement”), (1) Borrower is in complete
compliance for the period ending __________  with all required
covenants except as noted below, (2) there are no Events of Default, (3) all representations and
warranties in the Agreement are true and correct in all material respects on this date except as
noted below; provided, however, that such materiality qualifier shall not be applicable to any
representations and warranties that already are qualified or modified by materiality in the text
thereof; and provided, further that those representations and warranties expressly referring to a
specific date shall be true, accurate and complete in all material respects as of such date, (4)
Borrower, and each of its Subsidiaries, has timely filed all required tax returns and reports, and
Borrower has timely paid all foreign, federal, state and local taxes, assessments, deposits and
contributions owed by Borrower except as otherwise permitted pursuant to the terms of Section 5.8
of the Agreement, and (5) no Liens have been levied or claims made against Borrower or any of its
Subsidiaries relating to unpaid employee payroll or benefits of which Borrower has not previously
provided written notification to Bank. Attached are the required documents supporting the
certification. The undersigned certifies that these are prepared in accordance with GAAP
consistently applied from one period to the next except as explained in an accompanying letter or
footnotes. The undersigned acknowledges that no borrowings may be requested at any time or date of
determination that Borrower is not in compliance with any of the terms of the Agreement, and that
compliance is determined not just at the date this certificate is delivered. Capitalized terms used
but not otherwise defined herein shall have the meanings given them in the Agreement.

Please indicate compliance status by circling Yes/No under “Complies” column.

	 	 	 	 	 	 	 
	Reporting
Covenant	 	Required	 	Complies
	Monthly Financial Statements and Compliance Certificate
	 	Monthly within 30 days	 	Yes	 	No
	 
	 	 	 	 	 	 
	Annual financial statements (CPA Audited) on
10-K
	 	Annually, upon the earlier of 5 days after filing
Form 
10-K with SEC or 90 days after FYE	 	Yes	 	No
	 
	 	 	 	 	 	 
	10-Q
	 	Quarterly, within 5 days after filing with SEC or
45 days after quarter	 	Yes	 	No
	 
	 	 	 	 	 	 
	8-K
	 	Within 5 days after SEC filing	 	Yes	 	No
	 
	 	 	 	 	 	 
	Board approved projections
	 	As requested by Bank	 	Yes	 	No

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Financial Covenant	 	Required	 	Actual	 	Complies
	Adjusted Quick Ratio (tested monthly)
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	As of
October 31, 2008
	 	 	1.10:1.00	 	 	 	__:1.00	 	 	Yes	 	No
	As of July 31, 2009
	 	 	1.25:1.00	 	 	 	__:1.00	 	 	Yes	 	No
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Rolling Two-Quarter EBITDA (tested quarterly)
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	As of October 31, 2008
	 	 	$20,000,000	 	 	$	 	 	 	Yes	 	No
	As of July 31, 2009
	 		$25,000,000	 	 	$	 	 	 	 	 	 	 	 	 	 

 

 

          The following financial covenant analyses and information set forth in Schedule 1 attached
hereto are true and accurate as of the date of this Certificate.

     The following are the exceptions with respect to the certification above: (If no exceptions
exist, state “No exceptions to note.”)

 

 

 

	 	 	 	 	 	 	 	 	 	 	 
	FINISAR CORPORATION	 	 	 	BANK USE ONLY	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By:
	 	 	 	 	 	Received by:	 	 	 	 
	 
	 	 
	 	 	 	 	 	 	 	 
	Name:
	 	 	 	 	 	 	 	AUTHORIZED SIGNER	 	 
	 
	 
	 

	 
	 	 
	 	 	 	 	 	 	 	 
	Title:
	 	 	 	 	 	Date:	 	 	 	 
	 
	 	 
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	Verified:	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	AUTHORIZED SIGNER	 	 
	OPTIUM CORPORATION	 	 	 	Date:	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	Compliance Status:
	 	Yes     No                	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By:
	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	Name:
	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	Title:
	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 

 

 

Schedule 1 to Compliance Certificate 
Financial Covenants of Borrower

Dated:                     

In the event of a conflict between this Schedule and the Loan Agreement, the terms of the Loan
Agreement shall control.

	1.	 	Adjusted Quick Ratio (Section 6.7(a))

	 	 	 
	Required:
	 	___: 1.00* 
	 
	Actual:
	 	___: 1.00

	 	 	 	 	 	 	 
	A.	 	Aggregate value of the unrestricted cash and Cash Equivalents of Borrower	 	$	 	 
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	B.	 	Aggregate value of the net billed trade accounts receivable of Borrower	 	$	 	 
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	C.	 	Investments of Borrower	 	$	 	 
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	D.	 	Quick Assets (the sum of lines A through C)	 	$	 	 
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	E.	 	Aggregate value of liabilities of Borrower (including all Indebtedness to Bank) that mature  within one (1) year and current
portion of Subordinated Debt permitted by Bank to be paid by Borrower	 	$	 	 
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	F.	 	Current Liabilities (line E))	 	$	 	 
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	G.	 	Deferred Revenue	 	$	 	 
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	H.	 	Current portion of convertible subordinated notes to be paid by Borrower	 	$	 	 
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	I.	 	Line F minus line G and minus line H	 	$	 	 
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	J.	 	Adjusted Quick Ratio (line D divided by line I)	 	 	 	 
	 
	 	 	 	 	 	 

Is line J equal to or greater than ___: 1:00*?

See Section 6.7(a)

			
	                           No, not in compliance
	 	                    
Yes, in compliance     

II. 
EBITDA (Section 6.7(b))

	 	 	 
	Required:
	 	$                    * (for prior two quarters)
	 
	Actual:
	 	$                    

Is EBITDA for prior two quarters at least $                    *?

 

			
	*	 	See Section 6.7(b)

 

 

			
	                         
  No, not in compliance
	 	                    Yes, in compliance

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