Document:

Amendment No. 1 to Credit Agreement

 

Exhibit 10.1

AMENDMENT NO. 1 TO CREDIT AGREEMENT

     THIS AMENDMENT NO. 1 TO CREDIT AGREEMENT (the “Amendment”) is dated as of May 27, 2005, by and
between SS&C TECHNOLOGIES, INC., a Delaware corporation (the “Borrower”) and FLEET NATIONAL BANK, a
Bank of America company (the “Lender”).

     This Amendment amends that certain Credit Agreement, dated as of April 13, 2005, between the
Borrower and Lender (the “Credit Agreement”). Capitalized terms used herein without definition are
used with the meanings given them in the Credit Agreement.

     WHEREAS, Borrower desires to amend the Credit Agreement to extend the date for mandatory
reduction of the Lender’s commitment to extend loans to Borrower from $75,000,000 to $50,000,000
from forty-five days following the Closing Date to August 31, 2005.

     WHEREAS, the Lender has agreed to such modifications on the terms and conditions set forth
below.

     NOW THEREFORE, in consideration of the foregoing and for good and valuable consideration, the
parties hereby consent and agree as follows:

     1. Amendments. Section 1.01 of the Credit Agreement is hereby amended by deleting
the definition of “Reduction Date” in its entirety and inserting the following in its place:

     “Reduction Date” means August 31, 2005.

     2. Representations and Warranties. All representations, warranties and covenants
contained in, and schedules and exhibits attached to the Credit Agreement are true and correct on
and as of the date hereof, are incorporated herein by reference and are hereby remade.

     3. Expenses. The Borrower shall pay all costs and expenses of Lender, including
reasonable attorneys fees incurred in connection with this Amendment.

     4. Binding Effect. This Amendment is binding upon the successors and assigns of the
parties.

     5. Effectiveness. As a condition precedent to the effectiveness of this Agreement,
the Borrower shall deliver to the Lender an original, a telecopy or a pdf file attachment of this
Amendment executed by the Borrower.

     6. Counterparts. This Agreement may be executed in counterparts (and by different
parties hereto in different counterparts), each of which shall constitute an original, but all of
which when taken together shall constitute a single contract.

     7. No Other Changes. Except as expressly provided in this Amendment, the Credit
Agreement shall remain in full force and effect. This Amendment shall be governed by and

 

 

construed and enforced in accordance with the laws of the State of Connecticut (without regard
to its conflict of law rules).

     8. Reaffirmation of Guaranty. By its execution and delivery of this Amendment in the
space provided below, OMR SYSTEMS CORPORATION, a New Jersey corporation (the “Guarantor”) hereby
acknowledges the amendments to the Credit Agreement set forth in this Amendment and reaffirms its
obligations under that certain Joint and Several Continuing Guaranty Agreement, dated as of April
13, 2005 by Guarantor in favor of Lender.

[THE NEXT PAGE IS THE SIGNATURE PAGE]

2

 

     IN WITNESS WHEREOF, the parties have executed this Agreement as of the day and date first
above written.

	 	 	 	 	 	 	 
	 	 	 	 	SS&C TECHNOLOGIES, INC.
	 
	 	 	 	 	 	 
	

	 	 	 	By:
	 	/s/ Patrick J. Pedonti

Name: Patrick J. Pedonti
	

	 	 	 	 	 	Title: CFO
	 
	 	 	 	 	 	 
	 	 	 	 	FLEET NATIONAL BANK,

a Bank of America Company
	 
	 	 	 	 	 	 
	

	 	 	 	By:
	 	/s/ Richard J. Zilewicz

Name: Richard J. Zilewicz
	

	 	 	 	 	 	Title: Market President
	 
	 	 	 	 	 	 
	ACKNOWLEDGED AND AGREED

  (as to Section 8 above)	 	 	 	 
	 
	 	 	 	 	 	 
	OMR SYSTEMS CORPORATION	 	 	 	 
	 
	 	 	 	 	 	 
	By:

	 	/s/ Patrick J. Pedonti

Name: Patrick J. Pedonti	 	 	 	 
	

	 	Title: Treasurer	 	 	 	 

3exv10w1

 

Exhibit 10.1

May 26, 2005

Carl A. Spalding

3126 Dahlia Way

Naples, Florida 34105

Dear Carl:

PAREXEL International Corporation, a Massachusetts corporation having its principal office in
Waltham, Massachusetts, U.S.A., (“PAREXEL”) desires to retain Carl A. Spalding (the “Consultant”)
as a consultant. PAREXEL hereby retains Consultant to provide management consulting services.
Consultant hereby accepts said retainer and, subject to terms and conditions hereinafter set forth,
agrees to provide the services as indicated above.

NOW, THEREFORE, in consideration of such retainer and the mutual covenants and promises herein
contained, and for other good and valuable consideration, the Company and the Consultant agree as
follows:

	1.  	As compensation for his services, PAREXEL shall pay Consultant a consultancy fee at a rate
mutually agreeable to both parties. Consultant shall invoice PAREXEL for such services and
PAREXEL shall pay such invoices within thirty (30) days after the invoice is received by
PAREXEL. PAREXEL shall reimburse Consultant for travel and other reasonable out-of-pocket
expenses incurred by Consultant at the request of PAREXEL, unless Consultant expressly agrees
in advance to waive such reimbursement. Consultant hereby agrees to be available for a
minimum of 8 hours per month.
	 
	2.  	The term of this Agreement shall commence as of July 1, 2005, and shall continue until
October 31, 2005.
	 
	3.  	Consultant understands that Consultant’s relationship with PAREXEL and its clients, officers
and employees is one of confidence and that during the period of Consultant’s engagement,
Consultant may acquire or may have already acquired knowledge of, or access to, information
which relates to the business, operations, or plans of PAREXEL or its clients and which is not
known to the general public (hereinafter “Confidential Information”). Such Confidential
Information may include, but is not limited to client relationships, budgets, costs, prices,
vendor lists, information about products, designs, processes, marketing plans, customers, and
technology. Except as may be necessary in the ordinary course of performing any duties as a
consultant to PAREXEL, Consultant will not at any time, either during Consultant’s engagement
or thereafter, (a) disclose any Confidential Information to any other person or entity or (b)
use any Confidential Information for Consultant’s own benefit or the benefit of any other
person or entity.
	 
	   	The foregoing obligation shall not apply to information:

	 	a)  	which was known to Consultant prior to receipt from PAREXEL;
	 
	 	b)  	which is or lawfully becomes generally available to the public;

 

 

	 	c)  	which is lawfully acquired from third parties who have a right to disclose such
information;
	 
	 	d)  	which by mutual written agreement is released from a confidential status; and
	 
	 	e)  	which Consultant is required by law to release.

	   	The terms of this item 3, and Consultant’s obligations hereunder, shall survive termination
or expiration of this Agreement and the completion of Consultant’s services hereunder.
	 
	4.  	During the period of engagement, Consultant will not provide similar services to
organizations, businesses or other entities competing with PAREXEL.
	 
	5.  	Upon the termination of Consultant’s engagement with PAREXEL for any reason, Consultant shall
deliver to PAREXEL all documents or other materials relating to Consultant’s work with PAREXEL
or its clients. Upon written request, all notebooks, memoranda, notes, computer programs,
records, diagrams, charts, flow charts, drawings, files, or other documents, together with all
copies and derivations therefrom, shall be delivered to PAREXEL.
	 
	   	Consultant hereby assigns to PAREXEL the entire right, title and interest in any invention,
data (whether in written, schematic or any other form) or idea, patentable or not, and all
copyrights therein, including without limitation, any software and software documentation,
made or conceived or reduced to practice or learned by Consultant either alone or jointly
with others during the period of engagement:

	 	a)  	while working for, or arising out of Consultant’s work with, PAREXEL in any
capacity; or
	 
	 	b)  	which relates in any manner to, or is useful in, the actual or anticipated
business or products of PAREXEL or relates in any manner to, or is useful in, PAREXEL’s
actual or anticipated research and development, or is suggested by or results from any
task assigned to Consultant or others by PAREXEL or work performed by Consultant or
others for or on behalf of PAREXEL or which is discovered or developed using any of
PAREXEL’s facilities or on PAREXEL time.

	6.  	Consultant agrees that in connection with any invention, data or ideas covered by item 5
above:

	 	a)  	Consultant will disclose it promptly to PAREXEL;
	 
	 	b)  	Consultant will, at PAREXEL’s request, promptly execute a specific assignment
of title to PAREXEL and do anything else reasonably necessary to enable PAREXEL to
secure a patent for or acquire or enforce any rights, including, without limitation,

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	 	   	any copyrights, in the invention, data or idea in the United States or in foreign
countries provided that PAREXEL shall reimburse Consultant for any expenses in
connection therewith.

	   	If for any reason, including incapacity, PAREXEL is unable, after reasonable effort, to
secure Consultant’s signature on any document or documents needed to apply for, perfect or
otherwise acquire a patent or any other rights in the invention, data or idea, or to enforce
such rights, Consultant hereby irrevocably designates PAREXEL as Consultant’s agent and
attorney-in-fact, to act for and in Consultant’s behalf to execute and file such documents
with the same legal force and effect as if executed by Consultant.

The terms of items 5 and 6 above, and Consultant’s obligations hereunder, shall survive termination
or expiration of this Agreement and the completion of Consultant’s services hereunder.

	7.  	Consultant will not, in connection with Consultant’s engagement by PAREXEL, either directly
or indirectly use or disclose any trade secret, confidential or proprietary information of any
previous employer or other party which, by virtue of applicable law or the terms of any
agreement to which Consultant is party, Consultant is bound not to so use or disclose.
	 
	8.  	Consultant shall not at any time during the twelve month period following the expiration or
termination of Consultant’s engagement with PAREXEL hire any employee of PAREXEL or solicit or
encourage any employee of PAREXEL to terminate his employment with PAREXEL.
	 
	9.  	Consultant understands that the primary client relationship is held by PAREXEL and that such
a relationship is valuable and critical to the survival of PAREXEL’s business. Consultant
agrees to perform services as a subcontractor to PAREXEL and shall not at any time during the
twelve month period following the expiration or termination of Consultant’s engagement with
PAREXEL solicit or accept consultant status with client(s) of PAREXEL.
	 
	10.  	Consultant shall perform services under this Agreement only as an independent contractor, and
nothing contained herein shall be construed to be inconsistent with that relationship or
status. Accordingly, Consultant shall have sole responsibility for the payment of all
federal, state and local income taxes and for all employment and disability insurance, Social
Security and other similar taxes. This Agreement shall not constitute, create, or in any way
be interpreted as, a joint venture, partnership, or formal business organization of any kind.
	 
	11.  	Consultant agrees that this Agreement, while it relates to certain terms and conditions of
Consultant’s engagement by PAREXEL, is not an employment contract and that, as an independent
contractor, Consultant is not eligible for any employee benefits from PAREXEL.
	 
	12.  	This Agreement and the Key Employee Agreement, dated April 9, 2001 , by and between PAREXEL
and the Consultant, constitute the entire agreement between Consultant and PAREXEL and
supersede all prior contracts, agreements, and understandings relating to the

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	   	same subject matter between the parties, including, but not limited to, the Change of
Control/Severance Agreement, dated April 9, 2001, by and between PAREXEL and Consultant.
The parties intend this Agreement to be a complete statement of the terms of their
agreement, and no change or modification of any of the provisions of this Agreement shall be
effective unless it is in writing and signed by a duly authorized officer of PAREXEL and
Consultant.
	 
	13.  	Consultant agrees that Consultant’s obligations to PAREXEL under this Agreement will also
extend to any other organization which succeeds or becomes affiliated to the business of
PAREXEL by reason of any sale, merger, or similar transaction.
	 
	14.  	Any dispute as to the meaning, effect or validity of this Agreement shall be governed by and
construed in accordance with the laws of the Commonwealth of Massachusetts, U.S.A. If any
part of this Agreement is unenforceable for any reason, the Agreement shall remain effective
and enforceable to the fullest extent permitted by law.
	 
	15.  	Consultant agrees, individually and as trustee of the Carl A. Spalding, Sr. Revocable Living
Trust dated 12/21/1990, that he will exercise all options granted to him pursuant to the
Company’s Second Amended and Restated 1995 Stock Plan no later than 239 days after the
termination of this Consulting Agreement, notwithstanding any terms or conditions in any stock
option agreement between him and the Company to the contrary.

If the foregoing terms and conditions are acceptable, please sign and date both copies of this
Agreement, and return one to PAREXEL.

	 	 	 
	Sincerely,

	 	Agreed to and accepted by:
	

	 	Consultant
	 
	 	 
	/s/ Josef H. von Rickenbach

	 	/s/ Carl A. Spalding
	 

	 	 
	Josef H. von Rickenbach

	 	Carl A. Spalding
	Chairman and Chief Executive Officer
	 	 
	 
	 	 
	Date: May 26, 2005

	 	Date: May 26, 2005
	 
	 	 
	

	 	Please indicate your Tax ID Number/Social Security Number:

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