Document:

ex10-ii.htm

    
      

    

    Exhibit (10) (ii)

     

    
      REVOLVING
CREDIT NOTE

       

      
        	
                $25,000,000

              	
                Cleveland,
      Ohio

              

      

      November
5, 2008

       

      FOR VALUE
RECEIVED, the undersigned, DIALYSIS CORPORATION OF AMERICA, a Florida
corporation (“Borrower”), hereby
promises to pay, on the last day of the Revolving Commitment Period, as defined
in the Credit Agreement (as hereinafter defined), to the order of KEYBANK
NATIONAL ASSOCIATION (“Lender”) at 127
Public Square, Cleveland, Ohio 44114, or at such other place as Lender shall
designate, the principal sum of TWENTY FIVE MILLION AND 00/100 DOLLARS
($25,000,000) or the aggregate unpaid principal amount of all Revolving Loans
made by Lender to Borrower pursuant to Section 2.1 of the
Credit Agreement, whichever is less, in lawful money of the United States of
America.  As used herein, “Credit Agreement”
means the Credit Agreement, dated as of October 24, 2005, between Borrower and
Lender, as the same may from time to time be amended, restated or otherwise
modified.  Capitalized terms used herein shall have the meanings
ascribed to them in the Credit Agreement.

       

      Borrower
also promises to pay interest on the unpaid principal amount of each Revolving
Loan from time to time outstanding, from the date of such Revolving Loan until
the payment in full thereof, at the rates per annum which shall be determined in
accordance with the provisions of Section 2.1 of the
Credit Agreement.  Such interest shall be payable on each date
provided for in Section 2.1; provided, however, that
interest on any principal portion which is not paid when due shall be payable on
demand.

       

      The
portions of the principal sum hereof from time to time representing Base Rate
Loans and LIBOR Loans, and payments of principal of any thereof, shall be shown
on the records of Lender by such method as Lender may generally employ; provided, however, that
failure to make any such entry shall in no way detract from Borrower’s
obligations under this Note.

       

      If this
Note shall not be paid at maturity, whether such maturity occurs by reason of
lapse of time or by operation of any provision for acceleration of maturity
contained in the Credit Agreement, the principal hereof, and the unpaid interest
thereon, shall bear interest, until paid, at a rate per annum equal to the
Default Rate. All payments of principal of, and interest on, this Note shall be
made in immediately available funds denominated in United States
dollars.

       

      This Note
is the Revolving Credit Note referred to in the Credit Agreement. Reference is
made to the Credit Agreement for a description of the right of the undersigned
to anticipate payments hereof, the right of the holder hereof to declare this
Note due prior to its stated maturity, and other terms and conditions upon which
this Note is issued.

       

      This Note
is governed by the laws of the State of Ohio, without regard to principles of
conflicts of laws.

       

      Except as
expressly provided in the Credit Agreement, Borrower expressly waives
presentment, demand, protest and notice of any kind.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      BORROWER
WAIVES ANY RIGHT TO HAVE A JURY PARTICIPATE IN RESOLVING ANY DISPUTE, WHETHER
SOUNDING IN CONTRACT, TORT OR OTHERWISE, BETWEEN BORROWER AND LENDER, ARISING
OUT OF, IN CONNECTION WITH, RELATED TO, OR INCIDENTAL TO THE RELATIONSHIP
ESTABLISHED BETWEEN THEM IN CONNECTION WITH THIS NOTE, THE CREDIT AGREEMENT, OR
ANY OTHER RELATED WRITING, INSTRUMENT, DOCUMENT OR AGREEMENT EXECUTED OR
DELIVERED IN CONNECTION HEREWITH OR THE TRANSACTIONS RELATED
THERETO.

       

      IN
WITNESS WHEREOF, Borrower has executed this Revolving Credit Note as of the date
first written above.

       

       

      
        	 
      	DIALYSIS
      CORPORATION OF AMERICA
	 
      	 
      	 
      	 
      
	 
      	
                By:

              	
                /s/
      Stephen W. Everett

              	 
      
	 
      	
                Name:

              	
                Stephen
      W. Everett

              	 
      
	 
      	
                Title:

              	CEO 	 
      

      

       

       

       

      2ex10-iii.htm

    
      

    

    Exhibit (10)
(iii)

     

    
      GUARANTOR
ACKNOWLEDGMENT AND AGREEMENT

       

      Each of
the undersigned consents and agrees to and acknowledges the terms of the
foregoing Amendment No. 5 to Credit Agreement, dated as of November 5, 2008.
Each of the undersigned specifically acknowledges the terms of and consent to
the waivers set forth therein.  Each of the undersigned further agrees
that the obligations of each of the undersigned pursuant to the Closing Date
Guaranty executed by each of the undersigned shall remain in full force and
effect and be unaffected hereby.

       

      Each of
the undersigned, by signing below, hereby waives and releases the Lender and its
respective directors, officers, employees, attorneys, affiliates and
subsidiaries from any and all claims, offsets, defenses and counterclaims of
which any of the undersigned is aware, such waiver and release being with full
knowledge and understanding of the circumstances and effect thereof and after
having consulted legal counsel with respect thereto.

       

      EACH OF
THE UNDERSIGNED WAIVES ANY RIGHT TO HAVE A JURY PARTICIPATE IN RESOLVING ANY
DISPUTE, WHETHER SOUNDING IN CONTRACT, TORT OR OTHERWISE, AMONG ANY OF THE
UNDERSIGNED, THE BORROWER AND/OR THE LENDER, ARISING OUT OF, IN CONNECTION WITH,
RELATED TO, OR INCIDENTAL TO THE RELATIONSHIP ESTABLISHED AMONG THEM IN
CONNECTION WITH THIS AGREEMENT, THE CREDIT AGREEMENT, THE NOTE OR OTHER RELATED
WRITING, INSTRUMENT, DOCUMENT OR AGREEMENT EXECUTED OR DELIVERED IN CONNECTION
HEREWITH OR THE TRANSACTIONS RELATED THERETO.

       

      [Remainder
of page intentionally left blank.]

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      IN
WITNESS WHEREOF, each of the undersigned has duly executed and delivered this
Guarantor Acknowledgement and Agreement as of the date first written
above.

       

      
        	 
      	
                DCA
      of Adel, LLC

              	 
      
	 
      	
                DCA
      of Aiken, LLC

              	 
      
	 
      	
                DCA
      of Barnwell, LLC

              	 
      
	 
      	
                DCA
      of Calhoun, LLC

              	 
      
	 
      	
                DCA
      of Camp Hill, LLC

              	 
      
	 
      	
                DCA
      of Central Valdosta, LLC

              	 
      
	 
      	
                DCA
      of Chesapeake, LLC

              	 
      
	 
      	
                DCA
      of Columbus, LLC

              	 
      
	 
      	
                DCA
      of Dalton, LLC

              	 
      
	 
      	
                DCA
      of Edgefield, LLC

              	 
      
	 
      	
                DCA
      of Fitzgerald, LLC

              	 
      
	 
      	
                DCA
      of Lemoyne, Inc.

              	 
      
	 
      	
                DCA
      of Manahawkin, Inc.

              	 
      
	 
      	
                DCA
      of Mechanicsburg, LLC

              	 
      
	 
      	
                DCA
      of North Baltimore, LLC

              	 
      
	 
      	
                DCA
      of Norwood, LLC

              	 
      
	 
      	
                DCA
      of Rockville, LLC

              	 
      
	 
      	
                DCA
      of Royston, LLC

              	 
      
	 
      	
                DCA
      of Selinsgrove, LLC

              	 
      
	 
      	
                DCA
      of So. Ga., LLC

              	 
      
	 
      	
                DCA
      of South Aiken, LLC

              	 
      
	 
      	
                DCA
      of Warsaw, LLC

              	 
      
	 
      	
                DCA
      of Wellsboro, Inc.

              	 
      
	 
      	
                Keystone
      Kidney Care, Inc.

              	 
      
	 
      	
                York
      Realty Managers, LLC

              	 
      
	 
      	 
      	 
      	 
      
	 
      	
                By:

              	
                /s/
      Stephen W. Everett

              	 
      
	 
      	
                Name:

              	
                Stephen
      W. Everett

              	 
      
	 
      	
                Title:

              	
                President
      of each of the foregoing Guarantors

              

      

       

       

       

      2Employment Offer Letter - Carl D. Grenz

 Exhibit 10.1 
 August 15, 2008 
 Mr. Carl D. Grenz 
 19015 Crescent Bay Drive 
 Houston, Texas 77094 
 Dear
Carl, 
 Endeavour International Corporation is pleased to offer you a position as Executive Vice President, Operations, based out of our office in London,
reporting to William L. Transier, Chairman, CEO and President. The start date will be on or about November 1, 2008. You will be considered an expatriate and will be eligible for expatriate benefits in accordance with company policy. 

For payroll and benefit purposes, you will be an employee of ADP TotalSource, a preferred-employer organization that provides human resources services to Endeavour.
The purpose of this letter is to describe your compensation and benefits, and to document the terms and conditions of your position. 
 BASE
COMPENSATION – Your base cash compensation will be $33,333.33 per month. During the course of your assignment you will be eligible for base salary increases, performance bonuses, equity grants or other forms of compensation. Such
compensation is subject to board approval based on company and personal performance. As an expatriate, you will receive a cost of leaving allowance based on your salary level and family status. 
 EQUITY AWARD AT EMPLOYMENT – Upon your employment and following board approval, you will receive inducement grants of 200,000 shares of restricted
stock and an award of 200,000 stock options that will vest in one-third increments over a three-year period from the issue date. In addition, you will receive inducement grants of 100,000 shares of restricted stock and an award of 50,000 stock
options that will vest one year from the issue date. At the vesting date, the value of the shares is treated as compensation subject to taxation. If your employment is terminated or you elect to leave the company before the vesting date of the
shares, you forfeit the right to these awards. 
 BENEFITS COVERAGE – You will be eligible for U.S. benefits on the first of the month
following your date of employment. Based on a hire date of November 1, 2008, you will be eligible for benefit coverage on that date. The U.S. benefit package includes group medical, dental, vision, long-term disability and life insurance
coverage. In addition, you will be covered under our private medical insurance policy in the United Kingdom. 
 RELOCATION – Endeavour
will provide relocation benefits to you in accordance with the company’s relocation policy. This will include home sale assistance, shipment of personal and household goods, furnished housing and paid utilities, cost-of-living adjustment, tax
equalization and tax preparation services, immigration documents and an annual home visit. 
  

 August 15, 2008 
 Carl D. Grenz 
 Page 2 
  

 VACATION – You qualify for four weeks of vacation each year consistent with company policies.

 Carl, on behalf of Bill Transier and the rest of the management group, we look forward to having you as a member of the Endeavour executive team. We are
confident that your experience and knowledge will be an asset to the organization. Please feel free to contact me at (713) 307-8734 if you have any questions. 
 Sincerely, 
 /s/ Tricia G. Young 
 Tricia G. Young

 Director, Human Resources

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