Document:

Exhibit 10.2

Exhibit 10.2

NINTH AMENDMENT TO CREDIT AGREEMENT

This Ninth Amendment to Credit Agreement (“Ninth Amendment”) is made as of this 9th
day of November, 2011, by and among PMFG, Inc. (“Holdings”), the Borrowers (as defined below),
which are listed on attached Schedule 1, the Lenders (as defined below) signatory hereto and
Comerica Bank, as Agent for the Lenders (in such capacity, the “Agent”).

RECITALS

A. Holdings, Peerless Mfg. Co. (the “Company”), PMC Acquisition, Inc. (“PMC Acquisition”),
and, following the execution and delivery by any other Subsidiary (as defined in the Credit
Agreement), and acceptance by the Agent, from time to time, of a Credit Agreement Joinder Agreement
from such Subsidiary, collectively with the Company, PMC Acquisition and each such Subsidiary, the
“Borrowers” and each individually, a “Borrower”) are party to that certain Revolving Credit and
Term Loan Agreement dated April 30, 2008, with the financial institutions from time to time
signatory thereto (individually a “Lender,” and any and all such financial institutions
collectively the “Lenders”) and Agent (as amended or otherwise modified from time to time, the
“Credit Agreement”).

B. Borrowers have requested that Agent and the Lenders make certain amendments to the Credit
Agreement and confirm certain related matters in connection with the Burgess-Manning Acquisition
(as defined in the Seventh Amendment), all as set forth herein and Agent and the Lenders are
willing to do so, but only on the terms and conditions set forth in this Ninth Amendment.

NOW, THEREFORE, in consideration of the mutual agreements herein contained and other good and
valuable consideration, the sufficiency and receipt of which are hereby acknowledged, Borrowers,
Agent and the Lenders agree as follows:

1. The definition of “Applicable Equity Proceeds Recapture Percentage” in Section 1 of the
Credit Agreement is amended and restated, in its entirety, as follows:

“Applicable Equity Proceeds Recapture Percentage” shall mean, at all
times, one hundred percent (100%).

2. Section 4.8(c) of the Credit Agreement is hereby amended and restated in its entirety, as
follows:

	 	(c)	 	Subject to clauses (e) and (f) hereof, (i) immediately upon
receipt by any Credit Party of Net Cash Proceeds generated from the issuance of
any Equity Interests of any Credit Party after the Ninth Amendment Effective
Date (other than the proceeds from any Equity Interests issued (A) under any
stock option or employee incentive plans listed on Schedule 6.12 hereto (or any
successor plans) or (B) in connection with the conversion of any Subordinated
Debt to equity), Borrowers shall prepay the Term Loan by an amount equal to the
Applicable Equity Proceeds Recapture Percentage of such Net Cash Proceeds from
the issuance of any Equity
Interests; and (ii) immediately upon receipt by any Credit Party of Net Cash
Proceeds generated from the issuance of any Subordinated Debt after the
Effective Date, Borrowers shall prepay the Term Loan by an amount equal to
one hundred percent (100%) of such Net Cash Proceeds from the issuance of
Subordinated Debt.

 

 

 

3. Schedule 1.1 of the Credit Agreement is hereby amended, restated and replaced (in its
entirety) with new Schedule 1.1, attached hereto as attachment 1.

4. The Lenders hereby waive any Default or Event of Default arising solely from the Borrowers’
failure to comply with Sections 7.9(a) and (b) of the Credit Agreement for the fiscal quarter ended
October 1, 2011.

5. Immediately effective on the Ninth Amendment Effective Date, Agent (with the concurrence of
the Required Lenders) hereby establishes a reserve against the Borrowing Base (pursuant to clause
(y) of the definition thereof), in addition to any other reserves at any time and from time to time
in effect, in the amount of $2,000,000, such additional reserve to remain in effect until (i) the
Borrowers have delivered a Covenant Compliance Report under Section 7.2(a) for any fiscal quarter
ending after the Ninth Amendment Effective Date demonstrating compliance with all of the financial
covenants set forth in Sections 7.9(a) through 7.9(c) hereof and confirming that, as of the date of
such report, no Default or Event of Default has occurred and is continuing, or (ii) the Borrowers
have repaid the Term Loan in full, whichever occurs first.

6. This Ninth Amendment shall become effective (according to the terms hereof) on the date
(the “Ninth Amendment Effective Date”) that the following conditions have been fully satisfied by
Borrowers (the “Conditions”):

	 	(a)	 	Agent shall have received via facsimile or electronic mail (followed by the
prompt delivery of original signatures) counterpart originals of this Ninth Amendment,
in each case duly executed and delivered by the Agent, Borrowers and the Lenders.

	 	(b)	 	Borrowers shall have paid to Agent, for distribution to those Lenders which
approved this Ninth Amendment on or before November 9, 2011, an amendment fee equal to
twenty (20) basis points on each such Lender’s aggregate commitment under the Revolving
Credit and outstandings under the Term Loan.

	 	(c)	 	Borrowers shall have paid to the Agent all fees and other amounts, if any, that
are due and owing to the Agent as of the Ninth Amendment Effective Date in accordance
with the Loan Documents.

 

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7. Borrowers hereby certify to the Agent and the Lenders as of the Ninth Amendment Effective
Date and after giving effect to this Ninth Amendment, that (a) execution and delivery of this Ninth
Amendment and the other Loan Documents required to be delivered hereunder, and the performance by
Borrowers of their obligations under the Credit Agreement as amended hereby (herein, as so amended,
the “Amended Credit Agreement”) are within the Borrowers’ powers, have been duly authorized, are
not in contravention of law or the terms of its
articles of incorporation or bylaws or other organizational documents of the parties thereto,
as applicable, and except as have been previously obtained do not require the consent or approval,
material to the amendments contemplated in this Ninth Amendment, of any governmental body, agency
or authority, and the Amended Credit Agreement and the other Loan Documents required to be
delivered hereunder will constitute the valid and binding obligations of such undersigned parties
enforceable in accordance with its terms, except as enforcement thereof may be limited by
applicable bankruptcy, reorganization, insolvency, moratorium, ERISA or similar laws affecting the
enforcement of creditors’ rights generally and by general principles of equity (whether enforcement
is sought in a proceeding in equity or at law), (b) the representations and warranties set forth in
Section 6 of the Amended Credit Agreement are true and correct on and as of the Ninth Amendment
Effective Date (except to the extent such representations specifically relate to an earlier date),
and (c) on and as of the Ninth Amendment Effective Date, after giving effect to this Ninth
Amendment, no Default or Event of Default shall have occurred and be continuing.

8. Except as specifically set forth above, this Ninth Amendment shall not be deemed to amend
or alter in any respect the terms and conditions of the Amended Credit Agreement (including without
limitation all conditions and requirements for Advances and any financial covenants), any of the
Notes issued thereunder or any of the other Loan Documents. Except as specifically set forth above,
this Ninth Amendment shall not constitute a waiver or release by the Agent or the Lenders of any
right, remedy, Default or Event of Default under or a consent to any transaction not meeting the
terms and conditions of the Amended Credit Agreement, any of the Notes issued thereunder or any of
the other Loan Documents or affect in any manner whatsoever any rights or remedies of the Lenders
with respect to any non-compliance by Borrowers or any Guarantor with the Amended Credit Agreement
or the other Loan Documents, whether in the nature of a Default or Event of Default, and whether
now in existence or subsequently arising, and shall not apply to any other transaction. Borrowers
hereby confirm that each of the Collateral Documents continues in full force and effect and
secures, among other things, all of its obligations, liabilities and indebtedness owing to the
Agent and the Lenders under the Credit Agreement and the other Loan Documents (where applicable, as
amended herein).

9. Borrowers hereby acknowledge and agree that this Ninth Amendment and the amendments
contained herein do not constitute any course of dealing or other basis for altering any obligation
of Borrowers, any other Credit Party, any Guarantor or any other party or any rights, privilege or
remedy of the Lenders under the Credit Agreement, any other Loan Document, any other agreement or
document, or any contract or instrument.

10. Except as specifically defined to the contrary herein, capitalized terms used in this
Ninth Amendment shall have the meanings set forth in the Credit Agreement.

11. This Ninth Amendment may be executed in counterpart in accordance with Section 13.9 of the
Credit Agreement and shall be considered a “Loan Document” within the meaning of the Credit
Agreement.

12. This Ninth Amendment shall be construed in accordance with and governed by the laws of the
State of Texas.

 

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WITNESS the due execution hereof as of the day and year first above written.

	 	 	 	 	 
	 	COMERICA BANK, as Agent

 	 
	 	By:  	/s/ Kelly Cowherd
 	 
	 	 	Name:  	Kelly Cowherd 	 
	 	 	Title:  	Assistant Vice President 	 

Signature page to Ninth Amendment (1137290)

 

 

 

	 	 	 	 	 
	 	PMFG, INC.

 	 
	 	By:  	/s/ Ronald L. McCrummen
 	 
	 	 	Name:  	Ronald L. McCrummen 	 
	 	 	Title:  	Vice President 	 
	 
	 	PEERLESS MFG. CO.

 	 
	 	By:  	/s/ Ronald L. McCrummen
 	 
	 	 	Name:  	Ronald L. McCrummen 	 
	 	 	Title:  	Vice President 	 
	 
	 	PMC ACQUISITION, INC.

 	 
	 	By:  	/s/ Ronald L. McCrummen
 	 
	 	 	Name:  	Ronald L. McCrummen 	 
	 	 	Title:  	Vice President 	 
	 
	 	NITRAM ENERGY, INC.

 	 
	 	By:  	/s/ Ronald L. McCrummen
 	 
	 	 	Name:  	Ronald L. McCrummen 	 
	 	 	Title:  	Vice President 	 
	 
	 	BOS-HATTEN, INC.

 	 
	 	By:  	/s/ Ronald L. McCrummen
 	 
	 	 	Name:  	Ronald L. McCrummen 	 
	 	 	Title:  	Vice President 	 
	 
	 	BURGESS — MANNING, INC.

 	 
	 	By:  	/s/ Ronald L. McCrummen
 	 
	 	 	Name:  	Ronald L. McCrummen 	 
	 	 	Title:  	Vice President 	 

Signature page to Ninth Amendment (1137290)

 

 

 

	 	 	 	 	 
	 	BURMAN MANAGEMENT, INC.

 	 
	 	By:  	/s/ Ronald L. McCrummen
 	 
	 	 	Name:  	Ronald L. McCrummen 	 
	 	 	Title:  	Vice President 	 

Signature page to Ninth Amendment (1137290)

 

 

 

LENDERS:

	 	 	 	 	 
	 	COMERICA BANK, as a Lender, Issuing Lender and Swing Line Lender

 	 
	 	By:  	/s/ Kelly Cowherd
 	 
	 	 	Name:  	Kelly Cowherd 	 
	 	 	Title:  	Assistant Vice President 	 

Signature page to Ninth Amendment (1137290)

 

 

 

	 	 	 	 	 
	 	MB FINANCIAL BANK, N.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Signature page to Ninth Amendment (1137290)

 

 

 

	 	 	 	 	 
	 	CITIBANK N.A.

 	 
	 	By:  	/s/ Deborah Purvin
 	 
	 	 	Name:  	Deborah Purvin 	 
	 	 	Title:  	Vice President 	 

Signature page to Ninth Amendment (1137290)

 

 

 

SCHEDULE 1

Peerless Mfg. Co.

PMC Acquisition, Inc.

Nitram Energy, Inc.

Bos-Hatten, Inc.

Burgess — Manning, Inc.

Burman Management, Inc.

 

 

 

Schedule 1.1

Applicable Margin Grid

Revolving Credit and Term Loan Facilities

(basis points per annum)

	 	 	 	 	 	 	 	 	 
	Basis for Pricing	 	Level I	 	Level II	 	Level III	 	Level IV*
	Consolidated Total Leverage Ratio*
	 	< 1.50 to 1.00	 	> 1.50 to 1.00
but
< 2.00 to 1.00 	 	>2.00 to 1.00
but 
< 2.50 to 1.00 	 	>2.50 to 1.00
	Revolving Credit Eurodollar Margin
	 	300.00	 	350.00	 	400.00	 	475.00
	Revolving Credit Base Rate Margin
	 	225.00	 	275.00	 	300.00	 	375.00
	Revolving Credit Facility Fee
	 	25.00	 	25.00	 	25.00	 	25.00
	Letter of Credit Fees (exclusive
of facing fees)
	 	300.00	 	350.00	 	400.00	 	475.00
	Term Loan Eurodollar Margin
	 	325.00	 	375.00	 	425.00	 	500.00
	Term Loan Base Rate Margin
	 	225.00	 	275.00	 	325.00	 	400.00

	 	 	 
	*	 	Definitions as set forth in the Credit Agreement.

	 
	**	 	Level IV pricing shall be in effect from the Ninth Amendment Effective Date until the delivery
of the financial statements for the fiscal quarter ending December 31, 2011 after which time the
Applicable Margins and Applicable Fee Percentages shall be determined in accordance with Section
11.9 of the Credit Agreement.Exhibit 10(a)(20)

Exhibit 10(a)20

FINANCIAL ADVISORY AGREEMENT

THIS FINANCIAL
ADVISORY AGREEMENT (this “Agreement”) is made and entered
into effective as of November 8, 2011 by and among Patriot National
Bancorp, Inc., a Connecticut corporation, the “Company”, or
the “Client”) and PNBK Sponsor LLC, a Delaware limited
liability company (together with its successors, “Sponsor”).

WHEREAS, the Client
have requested that Sponsor render financial and strategic advisory and other
similar services to the Company during the term of this Agreement.

NOW, THEREFORE, in
consideration of the services to be rendered by Sponsor to the Company, and to
evidence the obligations of the Company to Sponsor and the mutual covenants
herein contained, the Company hereby agrees with Sponsor as follows:

1. Retention. The Company hereby retains Sponsor to
provide fmancial advisory services to the Company during the term of this
Agreement. Such services will include:

	 	(i)	 	
Financial Analysis: Sponsor will manage
the financial analysis and evaluation for any and all initiatives relating to:
the issuance of any equity or debt securities of the Company, mergers,
acquisitions, divestitures, tender offers, exchange offers, recapitalizations,
restructurings, or any material change of ownership of the Company;

	 	(ii)	 	
Capital Raising: Sponsor will serve as
lead outside adviser with respect to all initiatives relating to the raising of
any additional capital for the Company and will report to the board on such
initiatives; and

	 	(iii)	 	
Strategic Initiatives: Sponsor will
work with the Company’s management and board of directors to evaluate and
make recommendations regarding strategic initiatives determined by the Company.
Such initiatives will include: (i) identifying, originating, and
evaluating merger, acquisition and divestiture opportunities; and
(ii) leading the negotiations and structuring of any merger, acquisition,
divestiture, tender offer, exchange offer, recapitalization or material change
in ownership of the Company.

With respect to the foregoing, any
issuance of securities, merger, acquisition, divestiture (in whole or in part),
tender offer, exchange offer or recapitalization consummated between the
Company and any other person or entity is herein defined as a
“Financial Transaction”).

 

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2.  Compensation. At closing of any Financial Transaction,
the Company shall pay Sponsor a cash success fee based upon the aggregate
Transaction Value and calculated pursuant to Exhibit 2 attached hereto. As
used herein, the term “Transaction Value” means the
aggregate amount of consideration with respect to a Financial Transaction,
whether in the form of cash, securities, assets or any other instrument
including, without limitation, any acquisition debt incurred, issued and/or
assumed in connection with the applicable Financial Transaction.

3. Term. The term of this Agreement shall continue for three
years from the date hereof and shall automatically renew every three years for
a subsequent three year term, unless terminated in writing by either party
during the period which is not more than 30 days prior to the renewal
date. Any obligation of the Client to pay any fees pursuant to Section 3
hereof as compensation for services provided during the term of this agreement
shall survive the expiration of such term or termination of this Agreement.

4. Reimbursement of Expenses. The Company agrees
to promptly, and in no case more than 30 days, reimburse Sponsor for all
its reasonable disbursements and out-of-pocket expenses incurred in connection
with providing the services of this Agreement. Sponsor shall provide the
Company with receipts and invoices containing detailed descriptions thereof
prior to the Company’s reimbursement of expenses. Any expense exceeding
$10,000 shall require the prior written approval by the Company.

5. Liability. None of the Sponsor, any of its
affiliates nor their respective members, managers, partners, directors,
officers, employees, agents or controlling persons (within the meaning of
Section 15 of the Securities Act of 1933, as amended, or Section 20(a) of
the Securities Exchange Act of 1934, as amended) (collectively, the
“Sponsor Group”) shall be liable to the Company or their
affiliates for any claims, losses, liabilities, damages or expenses
(collectively, a “Loss”) arising out of or in connection with the
performance of services contemplated by this Agreement, unless, and only to the
extent that, such Loss is determined by a court in a final order from which no
appeal can be taken, has resulted solely from the gross negligence or willful
misconduct on the part of such member of the Sponsor Group. Sponsor makes no
representations or warranties, express or implied, in respect of the services
provided or to be provided by the Sponsor Group. Except as Sponsor may
otherwise agree in writing on or after the date hereof: (a) each member of
the Sponsor Group shall have the right to, and shall have no duty (contractual
or otherwise) not to, directly or indirectly: (i) engage in the same or
similar business activities or lines of business as the Client or their
subsidiaries or affiliates, (ii) do business with any client, customer,
supplier, lender or investor of, to or in the Client or their subsidiaries or
affiliates and (iii) develop a strategic relationship with businesses that are
and may be competitive or complementary with the Client or their subsidiaries
or affiliates; (b) no member of the Sponsor Group shall be liable to the
Client or their subsidiaries or affiliates for breach of any duty (contractual
or otherwise) by reason of any such activities or of such person’s
participation therein; and (c) in the event that any member of the Sponsor
Group acquires knowledge of a potential transaction or matter that may be a
corporate opportunity for both (i) the Client or any of their subsidiaries
or affiliates, on the one hand, and (ii) any

 

 

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member of the Sponsor Group or any
other person, on the other hand, no member of the Sponsor Group shall have any
duty (contractual or otherwise) to communicate or present such corporate
opportunity to the Client or their subsidiaries and, notwithstanding any
provision of this Agreement to the contrary, shall not be liable to the Client,
their subsidiaries or any of their affiliates for breach of any duty
(contractual or otherwise) by reasons of the fact that any member of the
Sponsor Group directly or indirectly pursues or acquires such opportunity for
itself, directs such opportunity to another person, or does not present such
opportunity to the Client, their subsidiaries or any of their affiliates.
Without limiting the foregoing, in the event that Sponsor or Client identifies
an opportunity relating to a financial institution in Connecticut or the
Metropolitan New York area, Client determines to pursue such opportunity and
Sponsor declines to represent Client for any reason, then Client may pursue the
opportunity without any obligation to pay Sponsor a fee under this Agreement.
In no event will any of the parties hereto be liable to any other party hereto
for any punitive, exemplary, indirect, special, incidental or consequential
damages, including lost profits or savings, whether or not such damages are
foreseeable, or in respect of any liabilities relating to any third party
claims (whether based in contract, tort or otherwise). In no event shall the
aggregate liability of the members of the Sponsor Group exceed the amount of
fees actually received by Sponsor from Client pursuant to Section 2 hereof.

Sponsor will not
provide any legal, accounting or tax-related advice or services to the Company
pursuant to this Agreement.

This Section 5
does not relieve Sponsor Group of any obligations under applicable banking laws
or regulation.

6. Indemnification. The Client jointly and
severally shall indemnify and hold harmless each member of the Sponsor Group
from and against any and all Losses incurred by such member of the Sponsor
Group (including, without limitation, those arising out of a member of the
Sponsor Group’s negligence and reasonable fees and disbursements of the
respective member of the Sponsor Group’s counsel) which (a) are
related to or arise out of (i) actions taken or omitted to be taken
(including, without limitation, any untrue statements made or any statements
omitted to be made) by any of the Client or (ii) actions taken or omitted
to be taken by a member of the Sponsor Group with any Client’s consent or
in conformity with any Client’s instructions or any Client’s
actions or omissions or (b) are otherwise related to or arise out of
Sponsor’s engagement by the Client, and will reimburse each member of the
Sponsor Group for all costs and expenses, including, without limitation, fees
and disbursements of any counsel to such member of the Sponsor Group, as they
are incurred, in connection with investigating, preparing for, defending or
appealing any action, formal or informal claim, investigation, inquiry or other
proceeding, whether or not in connection with pending or threatened litigation,
caused by or arising out of or in connection with Sponsor’s acting
pursuant to Sponsor’s engagement, whether or not a member of the Sponsor
Group is named as a party thereto and whether or not any liability results
therefrom. None of the Client will, however, be responsible for any claims,
liabilities, losses, damages or expenses pursuant to clause (b) of the
preceding sentence that have resulted primarily from Sponsor’s bad faith,
gross negligence or willful misconduct. The Client also agree that neither
Sponsor

 

 

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nor any other member of the Sponsor
Group shall have any liability to any Client for or in connection with such
engagement except for any such liability for claims, liabilities, losses,
damages or expenses incurred by any Client that have resulted primarily from
Sponsors’ bad faith, gross negligence or willful misconduct. The Client
further agree that none of them will, without the prior written consent of
Sponsor, settle or compromise or consent to the entry of any judgment in any
pending or threatened claim, action, suit or proceeding in respect of which
indemnification may be sought hereunder (whether or not any member of the
Sponsor Group is an actual or potential party to such claim, action, suit or
proceeding) unless such settlement, compromise or consent includes an
unconditional release of Sponsor and each other member of the Sponsor Group
hereunder from all liability arising out of such claim, action, suit or
proceeding. EACH CLIENT HEREBY ACKNOWLEDGES THAT THE FOREGOING INDEMNITY
SHALL BE APPLICABLE TO ALL CLAIMS, LIABILITIES, LOSSES, DAMAGES OR EXPENSES
THAT HAVE RESULTED FROM OR ARE ALLEGED TO HAVE RESULTED FROM THE ACTIVE OR
PASSIVE OR THE SOLE, JOINT OR CONCURRENT ORDINARY NEGLIGENCE OF ADVISOR OR ANY
OTHER MEMBER OF THE ADVISOR GROUP.

The foregoing right
to indemnity shall be in addition to any rights that Sponsor and/or any other
member of the Sponsor Group may have at common law or otherwise and shall
remain in full force and effect following the completion or any termination of
the engagement. Each Client hereby consents to personal jurisdiction and to
service and venue in any court in which any claim which is subject to this
Agreement is brought against Sponsor or any other member of the Sponsor Group.

It is understood
that, in connection with Sponsor’s engagement, Sponsor may also be
engaged to act for a Client or Client in one or more additional capacities, and
that the terms of this engagement or any such additional engagements may be
embodied in one or more separate written agreements. This indemnification shall
apply to the engagement specified in the first paragraph hereof as well as to
any such additional engagement(s) (whether written or oral) and any
modification of said engagement or such additional engagement(s) and shall
remain in full force and effect following the completion or termination of said
engagement or such additional engagements.

Each of the Client
further understands and agrees that if Sponsor is asked to furnish any Client a
fmancial opinion letter or act for any Client in any other formal capacity,
such further action may be subject to a separate agreement containing
provisions and terms to be mutually agreed upon.

7. Governing Law. This Agreement shall be
construed, interpreted, and enforced in accordance with the laws of the State
of New York, excluding any choice-of-law provisions thereof. Each of the
parties hereby (a) irrevocably submits to the exclusive jurisdiction of the
United States Federal District Court for the Southern District of New York,
sitting in New York City, New York, the United States of America, in the event
such court has jurisdiction or, if such court does not have jurisdiction, to
any district court sitting in the State of New York, the United States of
America, for the purpose of any suit, action, or proceeding arising out of or
relating to

 

 

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this Agreement, including any claims
by any Indemnified Persons for indemnity pursuant to Section 6
hereof, (b) waives, and agrees not to assert in any such suit, action,
or proceeding, any claim that (i) it is not personally subject to the
jurisdiction of such court or of any other court to which proceedings in such
court may be appealed, (ii) such suit, action or proceeding is brought in
an inconvenient forum, or (iii) the venue of such suit, action, or
proceeding is improper and (c) expressly waives any requirement for the
posting of a bond by the party bringing such suit, action, or proceeding. Each
of the parties consents to process being served in any such suit, action, or
proceeding by mailing, certified mail, return receipt requested, a copy thereof
to such party at the address in effect for notices hereunder, and agrees that
such services shall constitute good and sufficient service of process and
notice thereof. Nothing in this Section 7 shall affect or limit any
right to serve process in any other manner permitted by law.

8. Waiver
of Fees. At any time, Sponsor in its sole discretion may elect to waive and
accrue payment of any fees payable to Sponsor under this Agreement for such
period of time as Sponsor elects.

9.
Assignment. This Agreement and all provisions contained herein shall be
binding upon and inure to the benefit of the parties hereto and their
respective successors and permitted assigns; provided, however, neither
this Agreement nor any of the rights, interests or obligations hereunder shall
be assigned (other than with respect to the rights and obligations of Sponsor,
which may be assigned to any one or more of its principals or affiliates) by
any of the parties without the prior written consent of the other parties.

10.
Counterparts. This Agreement may be executed in two or more
counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same instrument, and the signature of any
party to any counterpart shall be deemed a signature to, and may be appended
to, any other counterpart.

11. Other
Understandings. All discussions, understandings and agreements heretofore
made between any of the parties hereto with respect to the subject matter
hereof are merged in this Agreement, which alone fully and completely expresses
the Agreement of the parties hereto.

[THE REMAINDER OF THIS PAGE IS
INTENTIONALLY BLANK.]

 

 

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Exhibit 2 to Financial
Advisory Agreement

Fee Schedule

3% for the first $50 million in
Transaction Value; plus 

2% for Transaction Value, if any, between $50 and
$100 million; plus 
1% for the portion of the Transaction Value, if any,
over $100 million

 

 

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IN WITNESS WHEREOF, the parties hereto have caused this
Agreement to be duly executed as of the day and year first above written.

 

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