Document:

EXHIBIT
10.22

 

***Text
Omitted and Filed Separately

with the
Securities and Exchange Commission.

Confidential
Treatment Requested

Under 17
C.F.R. Sections 200.80(b)(4)

and
240.24b-2.

 

AMENDMENT
NO. 2 TO THE

LICENSE
AGREEMENT CONTROL NO. 2007-04-0173

BETWEEN
SENOMYX INC. AND

THE
REGENTS OF THE UNIVERSITY OF CALIFORNIA

 

The
parties to the License Agreement with an effective date of October 11,
2006, as amended by that certain First Amendment dated February 7, 2007
(as amended, the “Agreement”) cited above wish to amend such Agreement,
effective as of November 20,  2009 (“Amendment
No.2  Effective Date”) as set forth below
to incorporate additional intellectual property.

 

Now,
therefore, it is hereby agreed as follows:

 

1.  The cover page is amended by the addition
of the case “2001-F10”.

 

2.  The UCSD Disclosure Dockets listed in the
first RECITAL are amended by the addition of the case listed below:

 

“2001-F10   2001-510 
 [...***...]”

 

3.  The seventh RECITAL is amended to read:

 

WHEREAS, under the terms of the interinstitutional
agreements between NIH and UNIVERSITY (UC Control No. 2000-18-0542 and UC
Control No. 2010-18-018: “NIH Interinstitutional Agreement”), UNIVERSITY
is granted the exclusive right to manage the inventions on behalf of both
parties;

 

4.  Exhibit B is replaced in its entirety by
the revised Exhibit B as attached.

 

Except for the changes
made above, all of the other terms and conditions in the Agreement between the
parties shall remain in effect.

 

This amendment may be
executed by facsimile or electronic copy and in two (2) or more
counterparts, each of which shall be deemed an original and all of which
together shall constitute but one and the same instrument.

 

	
  Senomyx, Inc.

  	
   

  	
  THE REGENTS OF THE UNIVERSITY
  OF CALIFORNIA, SAN DIEGO CAMPUS

  
	
   

  	
   

  	
   

  
	
  By

  	
  /s/ David B. Berger

  	
   

  	
  By

  	
  /s/ Jane C. Moores, Ph.D.

  
	
   

  	
  (Signature)

  	
   

  	
   

  	
  (Signature)

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Name

  	
  David B. Berger

  	
   

  	
  Name

  	
  Jane C. Moores, Ph.D.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Title

  	
  VP & General Counsel

  	
   

  	
  Title

  	
  Assistant Vice Chancellor

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Date

  	
  11/20/09

  	
   

  	
  Date

  	
  11/18/09

  

 

Attachment:       Revised Exhibit B

 

***Confidential Treatment Requested

 

 

[...***...]

 

***Confidential Treatment
Requested

 

 

[...***...]

 

***Confidential Treatment
Requested

 

 

[...***...]

 

***Confidential Treatment
RequestedEXHIBIT
10.44

 

***Text
Omitted and Filed Separately

with
the Securities and Exchange Commission.

Confidential
Treatment Requested

Under
17 C.F.R. Sections 200.80(b)(4)

and
240.24b-2.

 

FIRST AMENDMENT

TO THE

COLLABORATIVE RESEARCH, DEVELOPMENT, COMMERCIALIZATION AND LICENSE AGREEMENT

 

THIS FIRST AMENDMENT TO
THE COLLABORATIVE RESEARCH, DEVELOPMENT, COMMERCIALIZATION AND LICENSE
AGREEMENT
(the “First Amendment”)
is made by and between SENOMYX, INC. (“Senomyx”), a
Delaware corporation, having a principal place of business at 4767 Nexus Centre
Drive, San Diego, CA 92121, and FIRMENICH SA, a Swiss Company, having its
principal place of business at 1, route des Jeunes,1211 Geneva 8, Switzerland (“Firmenich”).

 

WHEREAS, Senomyx and Firmenich entered
into that certain Collaborative Research, Development, Commercialization and
License Agreement dated as of July 28, 2009 (the “Agreement”); and

 

WHEREAS, the parties wish to amend the Agreement in the manner set forth in
this First Amendment (capitalized terms used but not otherwise defined in this
First Amendment shall have the meanings given such terms in the Agreement).

 

NOW, THEREFORE, in consideration of the foregoing premises
and of the covenants, representations and agreements set forth below, the
parties hereby agree to amend the Agreement as follows:

 

AGREEMENT

 

1.                                        The
parties acknowledge and agree that for purposes of the Agreement, the “first
Regulatory Approval of S6973 in the United State” has been achieved.

 

2.                                        The
parties further acknowledge and agree that wherever the phrase “first
Regulatory Approval” is used anywhere in the Agreement with respect to any
specific country or geography, that notwithstanding anything to the contrary in
the Agreement such “first Regulatory Approval” will be deemed to occur when
[...***...].

 

3.                                        In
consideration for a non-refundable and non-creditable payment by Firmenich to
Senomyx of US $2,000,000, which amount shall be paid by not later than November 13,
2009, the parties agree that:

 

(a)                                  The payment amount set forth
in Section 7.1.1(b) of the Agreement shall hereafter be US$8,000,000
instead of US$10,000,000.

 

(b)                                  The reference to [...***...] in Section 7.1.2.1 of the
Agreement shall hereafter refer to February 1, 2010; and

 

***Confidential
Treatment Requested

 

1

 

(c)                                  Notwithstanding anything to
the contrary in the Agreement, Firmenich’s right to select S6973 for
development under the Collaborative Program pursuant to Section 3.1.4
shall expire as of February 1, 2010, subject to the earlier termination of
the Agreement, and following such date Firmenich shall have no remaining right
to select S6973 for development under the Agreement.

 

4.                                        The parties acknowledge and
agree that Senomyx may disclose the material financial and business terms of
this Amendment as contemplated by Section 10.5 of the Agreement. The
parties further acknowledge and agree that Senomyx may issue a press release to
announce the execution of this Amendment and its material terms, including the
nature of the modifications to the Agreement and the amount, timing and other
terms of the payments contemplated by this Amendment. [...***...] Notwithstanding the foregoing, the content of the press release shall
not [...***...].

 

5.                                        Except as specifically amended
by this First Amendment, the terms and conditions of the Agreement shall remain
in full force and effect.

 

6.                                        This First Amendment will be
governed by the laws of the State of [...***...],
as such laws are applied to contracts entered into and to be performed entirely
within such State.

 

7.                                        This First Amendment 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.

 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

 

***Confidential
Treatment Requested

 

2

 

IN WITNESS WHEREOF, the parties have executed
this First Amendment effective as of the date of the last signature set forth
below.

 

	
  FIRMENICH SA

  	
   

  	
  FIRMENICH SA

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Title:

  	
   

  	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	Date:
	 
	 
	Date:
	 

 
 
SENOMYX, INC.
 

 

	
  By:

  	
  /s/ Kent Snyder

  	
   

  
	
   

  	
  Kent Snyder

  	
   

  
	
   

  	
   

  	
   

  
	
  Title:

  	
  CEO and Chairman

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	Date:
	October 30, 2009
	 

 
 

[SIGNATURE PAGE TO FIRST
AMENDMENT]

 

3

 

IN WITNESS WHEREOF, the parties have executed
this First Amendment effective as of the date of the last signature set forth
below.

 

	
  FIRMENICH SA

  	
   

  	
  FIRMENICH SA

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ Donald Hartman

  	
   

  	
  By:

  	
  /s/ Friedrich Busse

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Title:

  	
  Corp. VP Flavors

  	
   

  	
  Title:

  	
  Corp. VP Strategic Development

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	 
	 
	 
	 
	 

	Date:
	30 Oct. 2009
	 
	Date:
	30 Octobre 2009

 
 
SENOMYX, INC.
 
 

	
  By:

  	
   

  	
   

  
	
   

  	
  Kent Snyder

  	
   

  
	
   

  	
   

  	
   

  
	
  Title:

  	
  CEO and Chairman

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	Date:
	 
	 

 
 

[SIGNATURE PAGE TO FIRST
AMENDMENT]

 

3Exhibit 10.1

 

EIGHTH AMENDMENT TO AMENDED
AND RESTATED CREDIT AGREEMENT

AND REAFFIRMATION OF
GUARANTIES

 

THIS EIGHTH AMENDMENT TO
AMENDED AND RESTATED CREDIT AGREEMENT AND REAFFIRMATION OF GUARANTIES, dated as
of January  29, 2010 (this “Eighth  Amendment”), is entered into by and between Quixote
Corporation, a Delaware corporation (the “Borrower”),
whose address is 35 East Wacker Drive, Chicago, Illinois 60601, and Quixote
Transportation Safety, Inc., Transafe Corporation, Energy Absorption
Systems, Inc., and Energy Absorption Systems (AL) LLC, as Subsidiary
Guarantors, (each being referred to herein as a “Guarantor”
and collectively referred to herein as the “Guarantors”),
and Bank of America, N.A., a national banking association (the “Lender”), whose address is 135 South LaSalle Street,
Chicago, Illinois 60603.

 

R E C I TAL S:

 

A.                                   Borrower and
Lender entered into that certain Amended and Restated Credit Agreement, dated
as of April 20, 2005 (the “Original Credit Agreement”),
as amended by that certain First Amendment to Amended and Restated Credit
Agreement and Reaffirmation of Guaranties dated as of December 1, 2006,
(the “First Amendment”), that certain Second
Amendment to Amended and Restated Credit Agreement and Reaffirmation of
Guaranties dated as of March 15, 2007 (the “Second
Amendment”), that certain Third Amendment to Amended and Restated
Credit Agreement and Reaffirmation of Guaranties dated as of November 7,
2007 (the “Third Amendment”), that certain
Fourth Amendment to Amended and Restated Credit Agreement and Reaffirmation of
Guaranties dated as of November 7, 2008 (the “Fourth
Amendment”), that certain Waiver, Fifth Amendment to Amended and
Restated Credit Agreement and Reaffirmation of Guaranties dated as of February 9,
2009 (the “Fifth Amendment”), that
certain Waiver, Sixth Amendment to Amended and Restated Credit Agreement and
Reaffirmation of Guaranties dated as of May 7, 2009 (the “Sixth Amendment”), and that certain Seventh Amendment to
Amended and Restated Credit Agreement and Reaffirmation of Guaranties dated October 23,
2009 (the “Seventh Amendment”, and together
with the Original Credit Agreement, the First Amendment, the Second Amendment,
the Third Amendment, the Fourth Amendment, the Fifth Amendment, the Sixth
Amendment and the Seventh Amendment, the “Credit Agreement”)
pursuant to which Credit Agreement Lender has made a Revolving Loan to Borrower
evidenced by that certain Third Amended and Restated Revolving Loan Note, dated
as of October 23, 2009, in the maximum principal amount of $5,000,000,
executed by Borrower and made payable to the order of Lender (the “Revolving Note”).

 

B.                                     In connection
with the Original Credit Agreement, the Guarantors executed and delivered to
Lender that certain Guaranty dated as of May 16, 2003 in favor of Lender,
as amended by that Reaffirmation and Amendment of Subsidiary Guaranty dated as
of April 20, 2005 (the “Guaranty”).

 

C.                                     Borrower and
the Guarantors have also requested, and Lender has agreed to, the modification
of certain terms contained in the Credit Agreement as set forth herein, all
pursuant to the terms and conditions hereinafter set forth herein.

 

NOW THEREFORE, in
consideration of the premises and other good and valuable consideration, the
receipt and adequacy of which are hereby acknowledged, Borrower, the Guarantors
and Lender hereby agree as follows:

 

 

A G R E E MEN T S:

 

1.                                       RECITALS.  The foregoing Recitals are hereby made a part
of this Eighth Amendment.

 

2.                                       DEFINITIONS.  Capitalized words and phrases used herein
without definition shall have the respective meanings ascribed thereto in the
Credit Agreement.

 

3.                                       AMENDMENTS TO
THE CREDIT AGREEMENT.

 

3.1                         Section 1.1
of the Credit Agreement.

 

The definition of “Revolving
Loan Termination Date” in Section 1.1 of the Credit Agreement is hereby
deleted in its entirety and replaced with the following:

 

“Revolving
Loan Termination Date” means February 15, 2010.

 

4.                                       REAFFIRMATION
OF GUARANTIES.  Each of the
Guarantors hereby expressly (a) consents to the execution by Borrower and
Lender of this Eighth Amendment, (b) acknowledges that the “Guaranteed
Debt” (as defined in each of the Guaranties) includes all of the obligations
and liabilities owing from Borrower to Lender, including, but not limited to,
the obligations and liabilities of Borrower to Lender under and pursuant to the
Credit Agreement, as amended from time to time, and as evidenced by the
Revolving Note, as modified, extended and/or replaced from time to time, (c) reaffirms,
assumes and binds themselves in all respects to all of the obligations,
liabilities, duties, covenants, terms and conditions that are contained in
their respective Guaranty, (d) agrees that all such obligations and
liabilities under their respective Guaranty shall continue in full force and
effect and shall not be discharged, limited, impaired or affected in any manner
whatsoever, and (e) represents and warrants that each of the
representations and warranties made by such Guarantor in any of the documents
executed in connection with the Loans remain true and correct as of the date
hereof.

 

5.                                       REPRESENTATIONS
AND WARRANTIES.  To induce
Lender to enter into this Eighth Amendment, Borrower and each Guarantor hereby
certifies, represents and warrants to Lender that:

 

5.1                         Organization.  Borrower and each Guarantor is a corporation
or a limited liability company duly organized, existing and in good standing
under the laws of its state or organization with full and adequate corporate or
limited liability power, as the case may be, to carry on and conduct its
business as presently conducted. 
Borrower and each Guarantor is duly licensed or qualified in all foreign
jurisdictions wherein the nature of its activities require such qualification
or licensing.  The Articles of
Incorporation or Organization, as the case may be, Bylaws (other than an
amendment to the By-laws of Borrower dated May 14, 2009) or Operating
Agreement, as the case may be, Resolutions and Incumbency Certificate of
Borrower and each Guarantor have not been changed or amended since the
certified copies thereof were delivered to Lender in connection with the
Original Credit Agreement and the First Amendment.  The state issued organizational
identification number for Borrower and each Guarantor is listed on Schedule
I hereto.  The exact legal name of
Borrower and each Guarantor is as set forth in the preamble of this Eighth
Amendment, and neither Borrower nor any Guarantor currently conducts, nor has
it during the last five (5) years conducted, business under any other name
or trade name.  Neither Borrower nor any
Guarantor will change its name, its organizational identification number, if it
has one, its type of organization, its jurisdiction of organization or other
legal structure.

 

2

 

5.2                         Authorization.  Borrower and each Guarantor is duly
authorized to execute and deliver this Eighth Amendment and Borrower is and
will continue to be duly authorized to borrow monies under the Credit
Agreement, as amended hereby, and to perform its obligations under the Credit
Agreement, as amended hereby.

 

5.3                         No Conflicts.  The execution and delivery of this Eighth
Amendment and the performance by Borrower and each Guarantor of its obligations
under the Credit Agreement, as amended hereby, do not and will not conflict
with any provision of law or of the articles of incorporation or bylaws of
Borrower or any Guarantor or of any agreement binding upon Borrower or any
Guarantor.

 

5.4                         Validity and
Binding Effect.  The Credit
Agreement, as amended hereby, is a legal, valid and binding obligation of
Borrower and each Guarantor, enforceable against Borrower and each Guarantor in
accordance with its terms, except as enforceability may be limited by
bankruptcy, insolvency or other similar laws of general application affecting
the enforcement of creditors’ rights or by general principles of equity
limiting the availability of equitable remedies.

 

5.5                         Compliance with
Credit Agreement.  The
representation and warranties set forth in Section VI of the Credit
Agreement, as amended hereby, are true and correct with the same effect as if
such representations and warranties had been made on the date hereof, with the
exception that all references to the financial statements shall mean the
financial statements most recently delivered to Lender and except for such
changes as are specifically permitted under the Credit Agreement.  In addition, other than as waived in Section 2
hereof, Borrower and each Guarantor has complied with and is in compliance with
all of the covenants set forth in the Credit Agreement, as amended hereby,
including, but not limited to, those set forth in Section VII thereof.

 

5.6                         No Event of
Default.  As of the date hereof, no
Event of Default under Section VII of the Credit Agreement, as amended
hereby, or event or condition which, with the giving of notice or the passage
of time, or both, would constitute an Event of Default, has occurred or is
continuing.

 

5.7                         No Subordinated
Debt Default.  As of the
date hereof, no default under any of the documents evidencing or securing any
of the Subordinated Debt, or event or condition which, with the giving of
notice or the passage of time, or both, would constitute a default under any of
the documents evidencing or securing any of the Subordinated Debt, has occurred
or is continuing.

 

5.8                         Schedules to
Credit Agreement.  Other than
as shown by the updated Schedules attached hereto as Exhibit B, the
Schedules attached to the Credit Agreement are true and correct as of the date
hereof.

 

6.                                       CONDITIONS
PRECEDENT.  This Eighth
Amendment shall become effective as of the date above first written after
receipt by Lender of the following:

 

6.1                         Eighth
Amendment.  This Eighth
Amendment executed by Borrower, the Guarantors, and Lender.

 

3

 

6.2                         Resolutions.  A certified copy of Resolutions of the board
of directors of Borrower and each Guarantor authorizing the execution, delivery
and performance of this Eighth Amendment and related loan documents.

 

6.3                         Certificate of
Good Standing. 
Certificates of Good Standing for Borrower and each Guarantor from their
respective jurisdictions of organization.

 

6.4                         Other Documents.  Such other documents, certificates and/or
opinions of counsel as Lender may request.

 

7.                                       GENERAL.

 

7.1                         Governing Law;
Severability.  This Eighth
Amendment shall be construed in accordance with and governed by the laws of
Illinois.  Wherever possible each
provision of the Credit Agreement and this Eighth Amendment shall be
interpreted in such manner as to be effective and valid under applicable law,
but if any provision of the Credit Agreement and this Eighth Amendment shall be
prohibited by or invalid under such law, such provision shall be ineffective to
the extent of such prohibition or invalidity, without invalidating the
remainder of such provision or the remaining provisions of the Credit Agreement
and this Eighth Amendment.

 

7.2                         Successors and
Assigns.  This Eighth Amendment shall be
binding upon Borrower, the Guarantors, and Lender and their respective
successors and assigns, and shall inure to the benefit of Borrower, the
Guarantors, and Lender and the successors and assigns of Lender.

 

7.3                         Waiver of
Claims.  Borrower hereby acknowledges,
agrees and affirms that it possesses no claims, defenses, offsets, recoupment
or counterclaims of any kind or nature against or with respect to the
enforcement of the Credit Agreement, as amended hereby, the Revolving Note or
any other Loan Document (collectively referred to herein as the “Claims”), nor does Borrower now have knowledge of any facts
that would or might give rise to any Claims. 
If facts now exist which would or could give rise to any Claim against
or with respect to the enforcement of the Credit Agreement as amended hereby,
the Revolving Note, and/or any other Loan Documents, Borrower hereby unconditionally,
irrevocably and unequivocally waives and fully releases any and all such Claims
as if such Claims were the subject of a lawsuit, adjudicated to final judgment
from which no appeal could be taken and therein dismissed with prejudice.

 

7.4                         Continuing
Force and Effect of Loan Documents and Guaranty.  Except as specifically modified or amended by
the terms of this Eighth Amendment, all other terms and provisions of the
Credit Agreement and the other Loan Documents are incorporated by reference
herein, and in all respects, shall continue in full force and effect.  Borrower, by execution of this Eighth
Amendment, hereby reaffirms, assumes and binds itself to all of the
obligations, duties, rights, covenants, terms and conditions that are contained
in the Credit Agreement and the other Loan Documents.  Each of the Guarantors, by execution of this
Eighth Amendment, hereby reaffirms, assumes and binds itself to all of the
obligations, duties, rights, covenants, terms and conditions that are contained
in Guaranty.

 

7.5                         Financing
Statements.  Borrower
hereby irrevocably authorizes Lender at any time and from time to time to file
in any jurisdiction any initial UCC financing statements and/or amendments
thereto that (a) describe the Collateral, and (b) contain any other 

 

4

 

information required by part
5 of Article 9 of the UCC for the sufficiency or filing office acceptance
of any financing statement or amendment.

 

7.6                         References to
Credit Agreement.  Each
reference in the Credit Agreement to “this Agreement”, “hereunder”, “hereof’,
or words of like import, and each reference to the Credit Agreement in any and
all instruments or documents delivered in connection therewith, shall be deemed
to refer to the Credit Agreement, as amended hereby.

 

7.7                         Expenses.  Borrower shall pay all costs and expenses in
connection with the preparation of this Eighth Amendment and other related loan
documents, including, without limitation, reasonable attorneys’ fees and time
charges of attorneys who may be employees of Lender or any affiliate or parent
of Lender.  Borrower shall pay any and
all stamp and other taxes, UCC search fees, filing fees and other costs and
expenses in connection with the execution and delivery of this Eighth Amendment
and the other instruments and documents to be delivered hereunder, and agrees
to save Lender harmless from and against any and all liabilities with respect
to or resulting from any delay in paying or omission to pay such costs and
expenses.

 

7.8                         Counterparts.  This Eighth Amendment may be executed in any
number of counterparts, all of which shall constitute one and the same
agreement.

 

[Signatures on following
page]

 

5

 

IN WITNESS WHEREOF, the
parties hereto have executed this Eighth Amendment to the Amended and Restated
Credit Agreement and Reaffirmation of Guaranties as of the date first above
written.

 

	
   

  	
  Borrower:

  
	
   

  	
   

  
	
   

  	
  QUIXOTE CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ DANIEL P. GOREY

  
	
   

  	
  Name:

  	
  Daniel P. Gorey

  
	
   

  	
  Title:

  	
  Executive Vice President, Chief Financial 

  
	
   

  	
   

  	
  Officer and Treasurer

  
	
   

  	
   

  
	
   

  	
  Guarantors:

  
	
   

  	
   

  
	
   

  	
  QUIXOTE TRANSPORTATION SAFETY, INC.

  TRANSAFE CORPORATION

  
	
   

  	
  ENERGY ABSORPTION SYSTEMS, INC.

  
	
   

  	
  ENERGY ABSORPTION SYSTEMS (AL) LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ DANIEL P. GOREY

  
	
   

  	
  Name:

  	
  Daniel P. Gorey

  
	
   

  	
  Title:

  	
  Executive Vice President, Chief Financial 

  
	
   

  	
   

  	
  Officer and Treasurer

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Lender:

  
	
   

  	
   

  
	
   

  	
  BANK OF AMERICA, N.A.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ CHRIS D. BUCKNER

  
	
   

  	
  Name:

  	
  Chris D Buckner

  
	
   

  	
  Title:

  	
  Senior Vice President

  

 

6

 

Schedule I

 

Organizational
Identification Numbers

 

	
  CORPORATION

  	
   

  	
  STATE

  	
   

  	
  STATE ID

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Quixote Corporation

  	
   

  	
  Delaware

  	
   

  	
  0720523

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Quixote Transportation Safety, Inc.

  	
   

  	
  Delaware

  	
   

  	
  2803660

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Transafe Corporation

  	
   

  	
  Delaware

  	
   

  	
  3197646

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Energy Absorption Systems, Inc.

  	
   

  	
  Delaware

  	
   

  	
  0904033

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Energy Absorption (AL) LLC

  	
   

  	
  Delaware

  	
   

  	
  3539333

  

 

7

 

Exhibit B

 

Updated Schedules

 

 

Schedule 1.1.1

Permitted Existing
Indebtedness

 

A.                                   The following indebtedness was incurred
with the issuance of convertible debt and is reported on the December 31,
2009 balance sheet at $40,000,000.

 

Convertible senior subordinated
notes paying 7% due February 15, 2025 totalling $40,000,000 initially
issued to eight investment funds.

 

C.                                     The following indebtedness of
Subsidiaries to Borrower, eliminated in consolidation:

 

1.                                       Note from Quixote Beijing Co., Ltd to
Borrower of $300,000.

 

D.                                    The intercompany liabilities existing as
of December 31, 2009 as follows:

 

	
  Energy
  Absorption Systems AL

  	
   

  	
  $

  	
  16,186,375

  	
   

  
	
  Quixote
  International Enterprises, LLC

  	
   

  	
  $

  	
  2,400,000

  	
   

  
	
  Quixote
  Beijing Co., Ltd

  	
   

  	
  $

  	
  236,887

  	
   

  
	
  Transafe

  	
   

  	
  $

  	
  4,230,738

  	
   

  

 

E.                                      Permitted Existing Contingent
Obligations.

 

F.                                      Obligations secured by Permitted Existing
Liens.

 

 

Schedule 1.1.2

Permitted Existing
Investments

 

A.                                   Investments in Subsidiaries by Borrower
and Subsidiaries as evidenced by the ownership of equity as described in
Schedule 6.8

 

B.                                     Investments in Subsidiaries as follows
(all of which are eliminated in consolidation):

 

1.                                       Borrower has the following other
Investments in Subsidiaries:

$91,397,014 in
Quixote Transportation Safety, Inc.

 

2.                                       Quixote Transportation Safety, Inc.
has the following other Investments in Subsidiaries:

$1,000 in TranSafe
Corporation

$1,038,187 in Energy
Absorption Systems, Inc.

 

3.                                       Energy Absorption Systems, Inc. has
the following other Investments in Subsidiaries:

$65,246 in Energy Absorption
Systems (AL) LLC.

 

3.                                       Quixote International has the following
other Investment in one subsidiary:

$2,100,000 in Quixote
Beijing Co, Ltd.

 

C.                                     Various investments in non-interest
bearing bank accounts or money market accounts included in Cash on the balance
sheet.

 

 

Schedule 1.1.4

Permitted Existing
Contingent Obligations

 

A.                                   The following standby letters of credit
were established with the lender:

 

1.  $690,000 letter of credit in favor of Federal
Insurance Company relating to worker’s compensation claims.

 

2.  $150,000 letter of credit in favor of U.S.
Bank National Association relating to Quixote credit card payments.

 

 

Schedule 3.2

 

Transitional Letters of
Credit

 

	
  Amount

  	
   

  	
  LaSalle Bank LC#

  	
   

  	
  Expiration

  	
   

  	
  Beneficiary

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  $

  	
  690,000

  	
   

  	
  S541139

  	
   

  	
  6/30/10

  	
   

  	
  Federal Insurance Company

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  $

  	
  150,000

  	
   

  	
  03101078

  	
   

  	
   

  	
   

  	
  U.S.
  Bank National Association

  	
   

  

 

 

Schedule 6.7

 

Litigation

 

In January, 2008 we were
served in a lawsuit entitled Olga Mata,
Individually as Representative of the Estate of Elpido Mata et al. vs. Energy
Absorption Systems, Inc., Quixote Transportation Safety, Inc.,
William Brothers Construction, Keller Crash Cushions d/b/a Contractors
Barricade Service, J.I.T. Distributing Inc. and Gustavo Reyes d/b/a
Cerrito Trucking,  State of
Texas, District Court of Brazoria County, No. 44361. This case involves a
tractor-trailer collision with a crash cushion. The plaintiffs allege various
theories of liability against all defendants, including negligence,
misrepresentations and breach of warranty. We have tendered the case to our
insurance carrier and have answered the complaint. In September the judge
granted our motion for summary judgment and Quixote Transportation Safety, Inc.,
Energy Absorption Systems, Inc. and Keller Crash Cushions (our distributor)
are now dismissed on all causes of action. 
Plaintiff moved for reconsideration and his motion was denied.   Plaintiff has appealed.

 

************

 

On January 28, 2010,
Quixote entered into memorandums of understanding with plaintiffs’ counsel and
the other named defendants to settle the following purported class action
lawsuits (the “Lawsuits”) that were filed following the announcement of the
pending offer (the “Offer”) made by Trinity Industries, Inc. (“Trinity”)
and its wholly-owned subsidiary THP Merger Co. (“Purchaser”), to acquire the
Company’s outstanding common stock at $6.38 per share to be followed by a
back-end merger:  Superior Partners, on Behalf of Itself and
All Others Similarly Situated vs. Leslie J. Jezuit, Bruce Reimer, Daniel P.
Gorey, Robert D. van Roijen, Lawrence C. McQuade, Duane M. Tyler, Clifford D.
Nastas, Quixote Corporation and Trinity Industries, Inc.  (Case No. 10 CH 0613) filed on January 13,
2010 in the Circuit Court of Cook County, Illinois, Chancery Division (the “Court”);
and 
Ralph A. Ardito, Individually and on Behalf of All Others Similarly
Situated vs. Bruce Reimer, Leslie J. Jezuit, Daniel P. Gorey, Robert D. van
Roijen, Lawrence C. McQuade, Duane M. Tyler, Clifford D. Nastas, Quixote
Corporation, Trinity Industries, Inc. and THP Merger Co.  (Case No. 10 CH 2544) filed on January 20,
2010 in the Court. The Lawsuits are described in greater detail in the
Solicitation/Recommendation Statement on Schedule 14D-9 initially filed by
the Company with the Securities and Exchange Commission (the “SEC”) on January 7,
2010, as amended on January 15, 2010, January 19, 2010 and January 22,
2010 (as so amended, and as further amended hereby, the “Schedule 14D-9”).

 

Under the terms of the
memorandums of understanding, the Company, the other named defendants and the
plaintiffs have agreed to settle the  Superior Partners  lawsuit and dismiss the  Ardito  lawsuit as moot, subject to court approval.
As part of the settlement, the defendants deny all allegations of wrongdoing
and deny that the previous disclosures were inadequate but the Company agreed
to make available certain additional information to its stockholders, which is
described below under Item 8.01. The memorandums of understanding further
contemplate that the parties will enter into a stipulation of settlement. The
stipulation of settlement will be subject to customary conditions, including
court approval following notice to members of the proposed settlement class. If
finally approved by the court, the settlement will resolve all of the claims
that were or could have been brought on behalf of the proposed settlement class
in the action being settled, including all claims relating to the Offer, the
Merger, the Merger Agreement, the adequacy of the merger consideration, the negotiations
preceding the Merger Agreement, the adequacy and completeness of the
disclosures made in connection with the Offer and the Merger and any actions of
the individual defendants in connection with the Offer, the Merger or the
Merger Agreement, including any alleged breaches of the fiduciary duties of any
of the defendants, or the aiding and abetting thereof. If the court does
approve of the settlement after a notice period, then all public stockholders
who did not elect to opt out of such settlement

 

 

will be bound thereby.

 

In addition, in
connection with the settlement and as provided in the memorandums of
understanding, and subject to approval by the court, the named defendants or
their insurers will pay to plaintiffs’ counsel in the  Superior Partner  action for their fees and expenses an amount
not to exceed $431,000, and the named defendants or their insurers will pay to
plaintiff’s counsel in the  Ardito  action an amount not to exceed $169,000 and,
per the settlement with the plaintiff in the  Ardito  action, the settlement of the  Superior
Partners  action moots the  Ardito  action. Neither payment will affect the
amount of consideration to be paid to stockholders of the Company in connection
with the Offer and the subsequent merger. Furthermore, any payment is also
conditioned on the Offer being consummated so the Company’s stockholders will
not indirectly bear such payment.

 

Under the terms of the
Merger Agreement, the settlement is subject to the approval of Trinity, which
may not be unreasonably withheld or delayed. Trinity has given its approval to
the settlement described by the memorandums of understanding.

 

The Company and the other
defendants maintain that the lawsuits are completely without merit.
Nevertheless, in order to avoid costly litigation and eliminate the risk of any
delay to the closing of the Offer and subsequent merger, and because the only
effect of the settlement on the stockholders is to provide additional
disclosure, the defendants have agreed to the settlement contemplated in the
memorandum of understanding.

 

 

Schedule 6.8

 

Subsidiaries

 

6.8(i)                      See attached chart of corporate structure

6.8(ii)                   Note:      (1) Significant Domestic
Incorporated Subsidiary

(2) Subsidiary
Guarantor

 

	
  Legal

  	
   

  	
   

  	
   

  	
  Authorizes shares/

  	
   

  	
   

  
	
  Corporate

  	
   

  	
  Jurisdiction of

  	
   

  	
  Issues &

  	
   

  	
  Owner

  
	
  Name

  	
   

  	
  Organization

  	
   

  	
  Outstanding

  	
   

  	
  of Shares

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Quixote Transportation Safety, Inc.
  (1)(2)

  	
   

  	
  Delaware 

  	
   

  	
  1,000 Common,

  $1.00 p.v.,

  1,000 shares outstanding

  	
   

  	
  Quixote Corporation

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  TranSafe Corporation
  (1)(2) 

  	
   

  	
  Delaware 

  	
   

  	
  1,000 Common,

  $1.00 p.v.,

  1,000 shares outstanding

  	
   

  	
  Quixote Transportation Safety, Inc.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Energy Absorption Absorption
  Systems, Inc.

  (1)(2)

  	
   

  	
  Delaware 

  	
   

  	
  1,500 Common,

  $.01 p.v., 100,000 Series A Preferred, n.p.v.,

  1,000 common shares Outstanding

  	
   

  	
  Quixote Transportation Safety, Inc.

  

 

 

	
  Legal

  	
   

  	
   

  	
   

  	
  Authorizes shares/

  	
   

  	
   

  
	
  Corporate

  	
   

  	
  Jurisdiction of

  	
   

  	
  Issues &

  	
   

  	
  Owner

  
	
  Name

  	
   

  	
  Organization

  	
   

  	
  Outstanding

  	
   

  	
  of Shares

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Quixote (Asia Pacific),
  Inc. (f/k/a Quixote Transportation Safety (Asia Pacific), Inc.) 

  	
   

  	
  Delaware 

  	
   

  	
  1,000 Common,

  $1.00 p.v.

  1,000 shares outstanding 

  	
   

  	
  Energy Absorption Systems, Inc.
  

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  E-Tech Testing Services, Inc.
  

  	
   

  	
  Delaware 

  	
   

  	
  1,000 Common,

  $1.00 p.v., 

  1,000 shares outstanding 

  	
   

  	
  Energy Absorption Systems, Inc.
  

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Energy Absorption Systems
  (Europe), Inc. 

  	
   

  	
  Delaware 

  	
   

  	
  1,000 Common,

  $1.00 p.v.,

  1,000 shares outstanding 

  	
   

  	
  Energy Absorption Systems, Inc.
  

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Quixote
  Europe, Inc. (f/k/a Quixote Transportation Safety (Europe), Inc.) 

  	
   

  	
  Delaware 

  	
   

  	
  1,000 Common,

  $1.00 p.v.,

  1,000 shares outstanding 

  	
   

  	
  Energy Absorption Systems, Inc.
  

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Energy Absorption Systems
  (AL) LLC (1)(2) 

  	
   

  	
  Delaware 

  	
   

  	
  N/A 

  	
   

  	
  Energy Absorption Systems, Inc. is the sole and
  managing member 

  

 

 

Schedule
6.8(i)

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