Document:

Form of Senior Vice President Change of Control Agreement

 Exhibit 10.27 

 
 Schedule to Senior Vice President Change of Control
Agreement 
  
 The following is a list of our
officers who are party to the company’s Senior Vice President Change of Control Agreement, the form of which was filed as an exhibit to the company’s Quarterly Report on Form 10-Q for the period ending 12/27/2008: 

 
 David Brady 

Mark Casey 
 Arthur Friedman 
 Stephen Furlong 

David Harding 
 William Healy 
 Zhenxue Jing 

Robert Lavallee 
 Roger Mills 
 Michael Parrilla 

John Pekarsky 
 David Rudzinsky 
 Peter Soltani 

Thomas Umbel 
 Steve WilliamsonSubstitute Revolving Credit Note

 Exhibit 4.1 
 SUBSTITUTE REVOLVING CREDIT NOTE 
  

					
	 $20,000,000
	  	 	November 23, 2010	  

 FOR VALUE RECEIVED,
the undersigned, MEDALLION FINANCIAL CORP. a Delaware corporation (the “Borrower”), hereby unconditionally promises to pay on or before January 31, 2011 (the “Revolving Credit Termination Date”), to the order of STERLING
NATIONAL BANK (the “Bank”), at the office of the Bank located at 650 Fifth Avenue, New York, New York 10019, or at such other location as the Bank shall designate, in lawful money of the United States of America and in immediately
available funds, the principal amount of the lesser of (i) $20,000,000, or (ii) so much thereof as shall have been advanced (the “Advances”) by the Bank to the Borrower and remain outstanding pursuant to that certain Loan and
Security Agreement dated April 26, 2004 by and between the Borrower and the Bank, as amended through the date hereof (collectively, the “Agreement”). Terms used herein and not otherwise defined shall have the meanings ascribed to them
in the Agreement. 
 The Borrower further agrees to pay interest in like money at such office on the unpaid principal amount
hereof from time to time at a rate or rates per annum and at such times as are provided in the Agreement. Interest shall be calculated on the basis of a 360-day year for the actual number of days elapsed. 

All Advances made by the Bank to the Borrower hereunder may be noted by the Bank on any schedule or other record which may now or
hereafter be annexed by the Bank hereto, and the Bank is authorized to make such notations which shall be prima facie evidence of the principal amount outstanding hereunder at any time; provided, however, that any failure to make such a notation (or
any error in notation) shall not limit or otherwise affect the obligation of the Borrower hereunder, which is and shall remain absolute and unconditional. 
 This Note is secured by the Collateral, the Security Agreement and other collateral described in the Agreement, and is guaranteed by Medallion Funding LLC. 

The Borrower shall pay to the Bank a late charge (the “Late Charge”) in an amount equal to five percent (5%) of any
payment which is more than ten (10) days in arrears to cover the extra expense involved in handling delinquent payments. The term “payments” shall be construed to include principal, interest, fees and any other amount due under the
terms of this Note or any of the other Loan Documents. Acceptance by the Bank of payment of a Late Charge shall in no way be construed to be an election of remedies or waiver by the Bank of any of its rights at law or under the terms of any of the
Loan Documents. 
 This Note may be prepaid, in whole or in part, at any time or from time to time, in accordance with the
provisions of the Agreement. 
 All payments made hereunder shall be applied: first, to any fees or other charges owing to the
Bank hereunder; second, to accrued and unpaid interest; and third, to the outstanding principal 

 
balance hereof. Notwithstanding the foregoing, upon the occurrence of an Event of Default, the Bank may apply payments received hereunder in such manner as it shall determine in its sole and
absolute discretion. 
 The Bank may declare this Note to be immediately due and payable if any of the following events shall
have occurred and be continuing: 
 (1) Failure by the Borrower to make any payment of principal or interest under this Note on
any date when due; or 
 (2) An Event of Default shall have occurred under the Agreement or any of the other Loan Documents.

 Upon the occurrence of any Event of Default, the Bank may, in addition to such other and further rights and remedies as
provided by law or under any of the Loan Documents, (i) collect interest on such overdue amount from the date of such maturity until paid at a rate per annum equal to two percent (2%) in excess of the rate otherwise in effect hereunder,
(ii) setoff such amount against any deposit account maintained in the Bank by the Borrower, and such right of setoff shall be deemed to have been exercised immediately upon such stated or accelerated maturity even though such setoff is not
noted on the records of the Bank until a later time, and (iii) hold as security any property heretofore or hereafter delivered into the custody, control or possession of the Bank or any entity acting as agent for the Bank by any person liable
for the payment of this Note. 
 This Note may not be changed orally, but only by an agreement in writing, signed by the party
against whom enforcement of any waiver, change, modification or discharge is sought. 
 Should the indebtedness represented by
this Note or any part hereof be collected at law or in equity, or in bankruptcy, receivership, or any other court proceeding, or should this Note be placed in the hands of attorneys for collection upon default, the Borrower agrees to pay, in
addition to the principal and interest due and payable hereon, all reasonable costs and expenses of collecting or attempting to collect this Note, including reasonable attorneys’ fees and expenses. 

This Note shall be and remain in full force and effect and in no way impaired until the actual payment thereof to the Bank, its
successors or assigns. 
 Anything herein to the contrary notwithstanding, the obligations of the Borrower under this Note shall
be subject to the limitation that payments of interest shall not be required to the extent that receipt of any such payment by the Bank would be contrary to provisions of law applicable to the Bank limiting the maximum rate of interest which may be
charged or collected by the Bank. 
 The Borrower and all endorsers and guarantors of this Note hereby waive presentment, demand
for payment, protest and notice of dishonor of this Note. 
 This Note is binding upon the Borrower and its successors and
permitted assigns and shall inure to the benefit of the Bank and its successors and assigns. 

  
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 This Note and the rights and obligations of the parties hereto shall be subject to and
governed by the laws of the State of New York without regard to any conflict of laws principles. 
 This Note is executed and
delivered by the Borrower in substitution for, but not in repayment of, the Substitute Revolving Credit Note dated September 29, 2010 from the Borrower to the Bank in the maximum principal amount of $20,000,000 (the “Prior Note”);
provided, however, that the execution and delivery by the Borrower of this Note shall not constitute a refinancing, repayment, accord and satisfaction or novation of the Prior Note or the indebtedness evidenced thereby. 

IN WITNESS WHEREOF, the undersigned has caused this Note to be duly executed by its authorized officer as of the date set forth on the
first page hereof. 
  

			
	MEDALLION FINANCIAL CORP.
		
	By:	 	 /s/    Brian S.
O’Leary        

	Name:	 	Brian S. O’Leary
	Title:	 	 Executive Vice President and Chief
 Operating Officer

  
 3 

			
	STATE OF NEW YORK	 	)
		 	: ss.:
	COUNTY OF NEW YORK	 	)

 On the 23rd day of
November, 2010, before me, the undersigned, personally appeared Brian S. O’Leary, personally known to me or proved to me on the basis of satisfactory evidence to be the individual(s) whose name(s) is (are) subscribed to the within
instrument and acknowledged to me that he/she/they executed the same in his/her/their capacity(ies), and that by his/her their signature(s) on the instrument, the individual(s), or the person upon behalf of which the individual(s) acted, executed
the instrument. 
  

	
	 /s/    Marisa
Silverman        

	Notary Public
	
	MARISA SILVERMAN
	Notary Public, State of New York
	No. 02SI6123541
	 Qualified in Kings County, NY

Commission Expires 3/7/13Fourteenth Amendment to Loan and Security Agreement

 Exhibit 10.1 
 FOURTEENTH AMENDMENT TO LOAN AND SECURITY AGREEMENT 
 THIS FOURTEENTH AMENDMENT TO
LOAN AND SECURITY AGREEMENT (the “Amendment”) is dated November 23, 2010 and is by and between MEDALLION FINANCIAL CORP., a Delaware corporation having an address of 437 Madison Avenue, New York, New York 10022 (the
“Borrower”), and STERLING NATIONAL BANK, a national banking association having an address of 650 Fifth Avenue, New York, New York 10019 (the “Bank”). 
 RECITALS 
 A. The Borrower and the Bank entered into a Loan and Security
Agreement dated April 26, 2004 (the “Original Loan Agreement”), pursuant to which the Bank has agreed to extend certain credit and make certain loans to the Borrower. 

B. The Borrower and the Bank have amended the Original Loan Agreement pursuant to various amendments prior to the date hereof (the
Original Loan Agreement, as amended by such prior amendments, is collectively referred to herein as the “Loan Agreement”). 
 C. The Borrower has requested, and the Bank has agreed to make, certain amendments to the Loan Agreement, all as more fully described herein. 

NOW, THEREFORE, in consideration of the premises and other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties hereto agree as follows: 
 AGREEMENT 

1. Defined Terms. Except as otherwise indicated herein, all words and terms defined in the Loan Agreement shall have the same
meanings when used herein. 
 2. Extension of Revolving Credit Termination Date. The Revolving Credit Termination Date is
hereby extended to January 31, 2011. Accordingly, the definition of the term “Revolving Credit Termination Date” set forth in Section 1.1 of the Loan Agreement is hereby amended and restated in its entirety as follows:

 “Revolving Credit Termination Date” shall mean January 31, 2011. 

3. Amendments to Other Loan Documents. Each of the other Loan Documents is hereby amended to the extent necessary to reflect the
amendments to the terms of the Loan Agreement effected by this Amendment. Without limiting the generality of the foregoing, each of the other Loan Documents shall secure the Revolving Credit Note (as defined below) to the same extent, and with the
same effect, as it secured the Prior Note (as defined below). The Borrower shall take or cause to be taken such actions, and shall execute, deliver, file and/or record or cause to be executed, delivered, filed and/or recorded such documents and
other 

 
instruments, as the Bank shall deem to be necessary or advisable in order to confirm, implement or perfect the amendments to the other Loan Documents effected by this Paragraph. 

4. No Defenses. The Borrower acknowledges that, as of November 23, 2010, the aggregate outstanding principal balance under
the Revolving Credit Loan is $14,500,000. The Borrower acknowledges and agrees that, as of the date hereof, it has no offsets, counterclaims or defenses of any nature whatsoever to its Obligations to the Bank under the Loan Agreement or any of the
other Loan Documents, and hereby expressly waives and releases any and all claims against the Bank which exist on the date hereof with respect thereto. 
 5. Substitute Note. Concurrently herewith, the Borrower is executing and delivering to the Bank a Substitute Revolving Credit Note in the maximum principal amount of $20,000,000 (the
“Revolving Credit Note”) in substitution for, but not in repayment of, the Substitute Revolving Credit Note dated September 29, 2010 in the maximum principal amount of $20,000,000 previously issued by the Borrower to the Bank (the
“Prior Note”). The execution and delivery by the Borrower of the Revolving Credit Note pursuant to the provisions hereof shall not constitute a refinancing, repayment, accord and satisfaction or novation of the Prior Note or the
indebtedness evidenced thereby. 
 6. Reaffirmation of Guaranty Agreement and Security Agreement. In order to induce the
Bank to enter into this Amendment and to amend the Loan Agreement as provided herein, the Borrower is causing Medallion Funding LLC to execute and deliver to the Bank concurrently herewith a Reaffirmation of Guaranty and Security Agreement.

 7. Representations and Warranties. In order to induce the Bank to enter into this Amendment and to amend the Loan
Agreement as provided herein, the Borrower hereby represents and warrants to the Bank that: 
 (a) All of the representations
and warranties of the Borrower set forth in the Loan Agreement are true, complete and correct in all material respects on and as of the date hereof with the same force and effect as if made on and as of the date hereof and as if set forth at length
herein. 
 (b) After giving effect to this Amendment, no Event of Default presently exists and is continuing on and as of the
date hereof. 
 (c) Since the date of the Borrower’s most recent financial statements delivered to the Bank, the Borrower
has not experienced a material adverse effect in its business, operations or financial condition. 
 (d) The Borrower has full
power and authority to execute, deliver and perform any action or step which may be necessary to carry out the terms of this Amendment and this Amendment has been duly executed and delivered by the Borrower and is the legal, valid and binding
obligation of the Borrower enforceable in accordance with its terms, subject to any applicable bankruptcy, insolvency, general equity principles or other similar laws affecting the enforcement of creditors’ rights generally. 

  
 2 

 (e) The execution, delivery and performance of this Amendment will not (i) violate any
provision of any existing law, statute, rule, regulation or ordinance, (ii) conflict with, result in a breach of, or constitute a default under (A) the certificate of incorporation or by-laws of the Borrower, (B) any order, judgment,
award or decree of any court, governmental authority, bureau or agency, or (C) any mortgage, indenture, lease, contract or other material agreement or undertaking to which the Borrower is a party or by which the Borrower or any of its
properties or assets may be bound, or (iii) result in the creation or imposition of any lien or other encumbrance upon or with respect to any property or asset now owned or hereafter acquired by the Borrower, other than liens in favor of the
Bank, except, in the case of clauses (ii) and (iii) above, for any deviation from the foregoing which would not reasonably be expected to have a Material Adverse Effect. 

(f) No consent, license, permit, approval or authorization of, exemption by, notice to, report to, or registration, filing or declaration
with any person is required in connection with the execution, delivery and performance by the Borrower of this Amendment or the validity thereof or the transactions contemplated thereby, other than (i) filing or recordation of financing
statements and like documents in connection with the Liens granted in favor of the Bank, (ii) those consents, if they were not obtained or made, which would not reasonably be expected to have a Material Adverse Effect and (iii) filings
which the Borrower may be obligated to make with the Securities and Exchange Commission. 
 8. Bank Costs. The Borrower
shall reimburse the Bank on demand for all costs, including reasonable legal fees and expenses and recording fees, incurred by the Bank in connection with this Amendment and the transactions referenced herein. If payment of such costs is not made
within ten (10) days of the Bank’s demand therefor, the Bank may, and the Borrower irrevocably authorizes the Bank to, charge the Borrower’s account with the Bank or make an Advance under the Revolving Credit Loan in order to satisfy
such obligation of the Borrower. 
 9. Counterparts. This Amendment may be signed in several counterparts, each of which
shall be an original and all of which shall constitute one and the same instrument. 
 10. No Change. Except as expressly
set forth herein, all of the terms and provisions of the Loan Agreement shall continue in full force and effect. 
 11.
Governing Law. This Amendment shall be governed by and construed in accordance with the laws of the State of New York. 

[Signatures on following page] 

  
 3 

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and
delivered by their proper and duly authorized officers as of the date set forth on the first page hereof. 
  

			
	 MEDALLION FINANCIAL CORP.

		
	By:	 	 /s/    Brian S.
O’Leary        

	Name:	 	Brian S. O’Leary
	Title:	 	Executive Vice President & Chief Operating Officer
	
	STERLING NATIONAL BANK
		
	By:	 	 /s/    Thomas
Braunstein        

	 Name:
	 	Thomas Braunstein
	 Title:
	 	First Vice President

  
 4

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