Document:

Exhibit 10.1

 

November 1, 2010

 

Robert Giambrone

KBW, Inc.

787
7th Avenue

New
York, NY 10019

 

Re:
Notice of Non-Extension of Change of Control Agreement (“Notice”)

 

Dear
Mr. Giambrone:

 

Reference
is made to the Amended and Restated Change of Control Agreement (the “Agreement”),
entered into by and between you and KBW, Inc., a Delaware corporation (the
“Company”), dated as of December 31, 2008. All capitalized terms
used herein and not otherwise defined shall have the definitions used in the
Agreement.

 

Under
Section 1(b) of the Agreement, on each anniversary of the date
of the Agreement (the “Renewal Date”), the term of the Agreement
automatically extends to terminate on the third anniversary of such Renewal
Date unless, at least 60 days prior to the Renewal Date, the Company delivers
notice to you stating that it elects not to extend the Change of Control
Period. Under the Agreement, the next Renewal Date will be December 31,
2010 (the “Upcoming Renewal Date”).

 

This
letter constitutes Notice to you, delivered in accordance with Section 1(b) and
Section 11 of the Agreement, that the Change of Control Period
shall not be extended and, accordingly, the term of the Agreement will be
scheduled to expire on December 31, 2012, subject to earlier termination
in accordance with the terms of the Agreement.

 

Please
execute this letter to acknowledge your receipt of this notice and return one
such executed original copy to the Company.

 

 

	
   

  	
  Sincerely,

  
	
   

  	
   

  
	
   

  	
  KBW, Inc.

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Mitchell B. Kleinman

  
	
   

  	
   

  	
  Name:
  Mitchell B. Kleinman

  
	
   

  	
   

  	
  Title:
  EVP, General Counsel

  

 

 

I
hereby acknowledge receipt of this Notice, properly delivered to me.

 

	
   

  	
  /s/
  Robert Giambrone

  
	
   

  	
  Robert
  GiambroneExhibit 10.2

 

November 1, 2010

 

Mitchell B. Kleinman

KBW, Inc.

787
7th Avenue

New
York, NY 10019

 

Re:
Notice of Non-Extension of Change of Control Agreement (“Notice”)

 

Dear
Mr. Kleinman:

 

Reference
is made to the Amended and Restated Change of Control Agreement (the “Agreement”),
entered into by and between you and KBW, Inc., a Delaware corporation (the
“Company”), dated as of December 31, 2008. All capitalized terms
used herein and not otherwise defined shall have the definitions used in the
Agreement.

 

Under
Section 1(b) of the Agreement, on each anniversary of the date
of the Agreement (the “Renewal Date”), the term of the Agreement
automatically extends to terminate on the third anniversary of such Renewal
Date unless, at least 60 days prior to the Renewal Date, the Company delivers
notice to you stating that it elects not to extend the Change of Control
Period. Under the Agreement, the next Renewal Date will be December 31,
2010 (the “Upcoming Renewal Date”).

 

This
letter constitutes Notice to you, delivered in accordance with Section 1(b) and
Section 11 of the Agreement, that the Change of Control Period
shall not be extended and, accordingly, the term of the Agreement will be
scheduled to expire on December 31, 2012, subject to earlier termination
in accordance with the terms of the Agreement.

 

Please
execute this letter to acknowledge your receipt of this notice and return one
such executed original copy to the Company.

 

 

	
   

  	
  Sincerely,

  
	
   

  	
   

  
	
   

  	
  KBW, Inc.

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Robert Giambrone

  
	
   

  	
   

  	
  Name:
  Robert Giambrone

  
	
   

  	
   

  	
  Title:
  EVP, Chief Financial & Administrative Officer

  

 

 

I
hereby acknowledge receipt of this Notice, properly delivered to me.

 

	
   

  	
  /s/
  Mitchell B. Kleinman

  
	
   

  	
  Mitchell
  B. Kleinmanexh_10-1.htm

Exhibit 10.1

 

SECOND AMENDMENT TO

SECOND AMENDED AND RESTATED REVOLVING CREDIT PROMISSORY NOTE (LIBOR/PRIME)

(Avistar Communications Corporation)

Second Amendment dated as of August 16, 2010  (this “Amendment”) to that certain Second Amended and Restated Revolving Credit Promissory Note dated as of December 22, 2009, as amended, by Avistar Communications Corporation, a Delaware corporation (the “Borrower”), to the order of JPMorgan Chase Bank, N.A. (the “Bank”), in the maximum principal amount of $5,000,000 (the “Promissory Note”).

For value received, the parties hereto hereby agree as follows:

	
1.  

	
Initially capitalized terms used herein without definition have the meanings given them in the Promissory Note.

	
2.  

	
The definition of Maximum Facility Amount in Section 1 of the Promissory Note is hereby amended and restated as follows:

“Maximum Facility Amount” shall mean the lesser of (i) Seven Million Dollars ($7,000,000) and (ii) the value assigned by the Bank from time to time, in its sole reasonable discretion, to the collateral, if any, pledged and collaterally assigned to the Bank, and in which the Bank has a first-priority security interest and against which the Bank has a right of setoff, as security for the Borrower’s payment of its obligations under this Note.

	
3.  

	
The Borrowing Notice is hereby amended and restated as set forth in Exhibit A hereto.

	
4.  

	
This Amendment shall become effective on the later of August 16, 2010 and the first date by which all of the following shall have occurred:

	
a.  

	
The Borrower’s payment of $1,750 to the Bank’s counsel in respect of services rendered to the Bank in connection with the Borrower;

	
b.  

	
The Bank’s receipt of a reaffirmation of the Guaranty substantially in the form attached hereto as Exhibit B, duly executed by each Guarantor;

	
c.  

	
The Bank’s receipt of a Secretary’s Certificate substantially in the form attached hereto as Exhibit C, duly executed by the Secretary of the Borrower; and

	
d.  

	
The Bank’s receipt of a Form U-1 substantially in the form attached hereto as Exhibit D, duly executed by the Secretary of the Borrower

	
5.  

	
The Promissory Note, as amended by this Amendment, remains in full force and effect.

	
6.  

	
This Amendment shall be governed by and construed in accordance with the laws of the State of New York, without regard to conflicts of laws principles.

	
7.  

	
This Amendment may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which shall be deemed to be an original, but all of which taken together shall constitute one in the same instrument.

The rest of this page is intentionally blank.

UCN 006754857000

Facility ID 198433847

  

  

  

IN WITNESS WHEREOF, the parties have caused this Amendment to be duly executed and delivered as of the date first above written.

JPMorgan Chase Bank, N.A.

By:      /s/ Nancy A. Sheppard                                                                  

            Nancy A. Sheppard

            Managing Director

Avistar Communications Corporation

By:      /s/ Robert F. Kirk                                           

    Robert F. Kirk

    Chief Executive Officer

By:     /s/ Elias A. MurrayMeztger                              

     Elias A. MurrayMetzger

     Chief Financial Officer, Chief Administrative Officer and Corporate Secretary                           

 

State of   CA                        )

) ss.:

	
County of   San Mateo

	
)

On the 16 day of August in the year 2010, before me, the undersigned, personally appeared Elias MurrayMetzger, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument and acknowledged to me that he/she executed the same in his/her capacity, and that by his/her signature on the instrument, the individual, or the person upon behalf of which the individual acted, executed the instrument.

/s/ Elizabeth Bettancourt                

Notary Public

	
State of   CA

	
)

) ss.:

	
County of   San Mateo

	
)

On the 16 day of August in the year 2010, before me, the undersigned, personally appeared Robert Kirk, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument and acknowledged to me that he/she executed the same in his/her capacity, and that by his/her signature on the instrument, the individual, or the person upon behalf of which the individual acted, executed the instrument.

/s/ Elizabeth Bettancourt                

Notary Public

UCN 006754857000 

Facility ID 198433847exh_10-2.htm

Exhibit 10.2

 

REAFFIRMATION OF GUARANTY

REAFFIRMATION dated August 16, 2010 (this “Reaffirmation”) by Gerald J. Burnett and by Gerald J. Burnett and Marjorie J. Burnett as Trustee for The Gerald J. Burnett and Marjorie J. Burnett Revocable Trust (collectively, the “Guarantor”) in favor of JPMorgan Chase Bank, N.A., formerly known as JPMorgan Chase Bank (the “Bank”).

WHEREAS, Avistar Communications Corporation, a Delaware corporation (the “Obligor”), has executed and delivered to the Bank that certain Second Amended and Restated Revolving Promissory Note (Libor/Prime) dated as of December 22, 2009 by the Grantor in favor of the Bank in the maximum principal amount of $5,000,000 (as amended, restated or otherwise modified from time to time, “Note”);

WHEREAS, the Obligor has executed and delivered to the Bank that certain Second Amendment dated as of August 16, 2010 to the Note , which would increase the maximum principal amount of the Note to $7,000,000 (the “Amendment”);

WHEREAS, the Guarantor desires the Bank to execute and deliver the Amendment;

NOW THEREFORE, FOR VALUE RECEIVED, and as an inducement to the Bank to execute and deliver the Amendment, Guarantor, without in any respect limiting the scope of the Guaranty, hereby confirms, acknowledges and agrees that (i) from and after the date hereof the guaranty provided for in the Guaranty shall extend to, cover and guarantee all obligations of the Borrower arising under Note as amended by the Amendment (in addition to any other obligations guaranteed thereby) and (ii) the Guaranty is (and, following the Bank’s execution and delivery of the Amendment, will be) in full force and effect.

This Reaffirmation shall be governed by and construed in accordance with the law of the State of New York applicable to agreements made and to be performed wholly within the State of New York.

The rest of this page is intentionally blank.

UCN 006754857000

Facility ID 198433847

  

  

  

IN WITNESS WHEREOF, the undersigned has executed this Reaffirmation as of the date first set forth above.

/s/ Gerald J. Burnett                                               

Gerald J. Burnett

Gerald J. Burnett and Marjorie J. Burnett, as Trustee for

The Gerald J. Burnett and Marjorie J. Burnett Revocable Trust

By:         /s/ Gerald J. Burnett                                

Gerald J. Burnett

By:         /s/ Marjorie J. Burnett                             

Marjorie J. Burnett

	
State of   CA

	
)

) ss.:

	
County of   San Mateo

	
)

On the 12th day of August in the year 2010, before me, the undersigned, personally appeared Gerald J. Burnett, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument and acknowledged to me that he/she executed the same in his/her capacity, and that by his/her signature on the instrument, the individual, or the person upon behalf of which the individual acted, executed the instrument.

/s/ Steven A. Wagner                         

Notary Public

 

	
State of   CA

	
)

) ss.:

	
County of   San Mateo

	
)

On the 12th day of August in the year 2010, before me, the undersigned, personally appeared Marjorie J. Burnett, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument and acknowledged to me that he/she executed the same in his/her capacity, and that by his/her signature on the instrument, the individual, or the person upon behalf of which the individual acted, executed the instrument.

/s/ Steven A. Wagner                           

Notary Public

UCN 006754857000 

Facility ID 198433847

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00180-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00180-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00180-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00180-of-00352.parquet"}]]