Document:

perseonexh103.htm

Exhibit 10.3

Amendment to Sublease Agreement between

the Company and EnergySolutions, LLC

 

 

AMENDMENT TO SUBLEASE AGREEMENT

 

This Amendment to Sublease Agreement (this “Amendment”) is entered into on August 25, 2015 (the “Effective Date”) by and between EnergySolutions, LLC, a Utah limited liability company (“Sublessor”), and Perseon Corporation, a Delaware corporation (“Sublessee”).

 

WHEREAS, Sublessor and Sublessee entered into that certain Sublease Agreement dated as of May 14, 2015 (the “Sublease”).

 

WHEREAS, the parties desire to make certain changes to the Sublease as set forth herein.

 

WHEREAS, any capitalized terms that are used, but not defined herein, shall have the meanings ascribed to such terms in the Sublease.

 

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto covenant and agree as follows:

 

	
1.

	
Additional Sublessee Finish Allowance Reimbursement.  The following shall be added as Section 3.e. of the Sublease:

	 	 
	  	  	
Additional Sublessee Finish Allowance Reimbursement.  Notwithstanding anything to the contrary herein, for months 1 through 20 of the Sublease Term, in addition to Sublease Annual Rent, Sublessee agrees to pay to Sublessor Additional Sublessee Finish Allowance Reimbursement in the amount of $5,100.00 per month, at such place as Sublessor may designate, without prior demand therefore and without any deduction or set off whatsoever.

	 	 	 
	
2.

	
Additional Finish Allowance.  In addition to the Sublessee Finish Allowance set forth in Section 5 of the Sublease, and only after Sublessee has exhausted the full Sublessee Finish Allowance, Sublessor shall provide an additional tenant finish allowance (the “Additional Sublessee Finish Allowance”) to Sublessee to partially reimburse Sublessee for Sublessee’s performance of the Sublessee Improvements in accordance with the requirements of the Sublease.  The Additional Sublessee Finish Allowance shall be an amount equal to $100,000.00.  In no event shall the Additional Sublessee Finish Allowance be used to reimburse Sublessee for equipment, furniture, furnishings, or any special decorator items beyond the Building Standard Finishes set forth on Exhibit F to the Lease.  The Sublessor shall pay the Additional Sublessee Finish Allowance to Sublessee subject to and in accordance with the provisions of Exhibit C of the Lease applicable to the Tenant Finish Allowance, mutatis mutandis.  In the event the amount of the Additional Sublessee Finish Allowance is insufficient to cover the actual costs of Sublessee Improvements, Sublessee shall be responsible to pay such additional costs.

	 	 
	
3.

	
Entire Agreement and Modification.  This contains the entire agreement and understanding between the parties as it relates to the subject matter hereof.  Except as expressly modified by this Amendment, the terms and conditions of the Sublease shall remain in full force and effect.

	 	 
	
4.

	
Assignment.  The terms and provisions of this Amendment shall be binding upon and inure to the benefits of any successor of a party hereto.

	 	 
	
5.

	
Unenforceable Provision.  If any provision of this Amendment shall be invalid or unenforceable, such provision shall be severable and such invalidity or unenforceability shall not impair the validity of any other provision of this Amendment.

	 	 
	
6.

	
Governing Law.  The terms and provisions of this Amendment shall be construed in accordance with and governed by the laws of the State of Utah.

	 	 
	
7.

	
Counterparts.  This Amendment may be executed in several counterparts, each of which shall be deemed an original, but all of which shall constitute one and the same instrument.

  

  

  

 

IN WITNESS WHEREOF, the parties hereto have executed this Amendment to Sublease Agreement as of the date set forth above.

 

SUBLESSOR:

 

ENERGYSOLUTIONS, LLC

 

By:  /s/David Nilsson                                                                

 

Name:  David Nilsson                                                                

 

Title:  Treasurer                                                                

 

SUBLESSEE:

 

PERSEON CORPORATION

 

By:  /s/William Barth                                                                

 

Name:  William S. Barth                                                                

 

Title:  Chief Financial Officer                                                                

 

AGREED AND ACCEPTED:

 

WEST SALT LAKE ACQUISITIONS PARTNERS LLC,

 

a Delaware limited liability company

 

	
By: 

	
Hines West Salt Lake Acquisitions Partners LLC,

	
  

	
a Delaware limited liability company

	
  

	
Its:  Managing Member

 

	
By: 

	
Hines West Salt Lake Associates

	
  

	
Limited Partnership,

	
  

	
a Texas limited partnership

	
  

	
Its:  Sole Member

 

	
By: 

	
Hines Interests Limited Partnership,

	
  

	
a Delaware limited partnership

	
  

	
Its:  General Partner

 

	
By: 

	
Hines Holdings, Inc.,

	
  

	
a Texas corporation

	
  

	
Its:  General Partner

 

By: 

 

Name:                                                                

 

Its:Exhibit

Exhibit 10.1

AMENDMENT NO. 2
TO
EMPLOYMENT AGREEMENT

AMENDMENT, dated August 13, 2015 (“Amendment”), made to the Employment Agreement dated as of September 8, 2009, as amended by Amendment No. 1 thereto effective as of May 11, 2012 (as amended, the “Employment Agreement”), by and between Wyndham Worldwide Corporation, a Delaware corporation (the “Company”), and Thomas Conforti (the “Executive”).  
WHEREAS, the Company and the Executive have previously entered into the Employment Agreement and desire to amend the Employment Agreement to extend the employment term for a three year period, as set forth below.
NOW, THEREFORE, effective as of the date first written above, the Employment Agreement is hereby amended as follows:
1.The first sentence of Section II of the Employment Agreement is hereby amended in its entirety and replaced with the following:
The period of the Executive’s employment under this Agreement (the “Period of Employment”) shall begin on September 8, 2009 (the “Effective Date”), and shall end on September 8, 2018, subject to earlier termination as provided in this Agreement. 
2.    From and after the date hereof, all references to the Employment Agreement shall mean the Employment Agreement as amended hereby. Except as expressly amended hereby, the Employment Agreement shall remain in full force and effect, and is hereby ratified and confirmed. 
IN WITNESS WHEREOF, the undersigned has caused this Amendment to be executed this 13th day of August 2015.

EXECUTIVE

/s/ Thomas Conforti                
Thomas Conforti

WYNDHAM WORLDWIDE CORPORATION 

 
By:  /s/ Mary Falvey                 
       Name:  Mary Falvey 
       Title:  Executive Vice PresidentExhibit

Exhibit 10.2
SIXTH AMENDMENT
Dated as of August 27, 2015
to
AMENDED AND RESTATED INDENTURE 
AND SERVICING AGREEMENT
Dated as of October 1, 2010
by and among
SIERRA TIMESHARE CONDUIT RECEIVABLES FUNDING II, LLC,
as Issuer
and
WYNDHAM CONSUMER FINANCE, INC.,
as Servicer
and
WELLS FARGO BANK, NATIONAL ASSOCIATION,
as Trustee
and
U.S. BANK NATIONAL ASSOCIATION,
as Collateral Agent

SIXTH AMENDMENT
to
AMENDED AND RESTATED INDENTURE AND SERVICING AGREEMENT
THIS SIXTH AMENDMENT dated as of August 27, 2015 (this “Amendment”) amends that AMENDED AND RESTATED INDENTURE AND SERVICING AGREEMENT dated as of October 1, 2010, as amended by that First Amendment dated as of June 28, 2011, that Second Amendment dated as of May 17, 2012, that Third Amendment dated as of August 30, 2012, that Fourth Amendment dated as of August 29, 2013 and that Fifth Amendment dated as of August 28, 2014 (the Amended and Restated Indenture and Servicing Agreement together with the First Amendment, the Second Amendment, the Third Amendment, the Fourth Amendment and the Fifth Amendment thereto, the “Original Indenture”) and both this Amendment and the Original Indenture are by and among SIERRA TIMESHARE CONDUIT RECEIVABLES FUNDING II, LLC, a limited liability company organized under the laws of the State of Delaware, as issuer, WYNDHAM CONSUMER FINANCE, INC., a Delaware corporation, as servicer, WELLS FARGO BANK, NATIONAL ASSOCIATION, a national banking association, as trustee and U.S. BANK NATIONAL ASSOCIATION, a national banking association, as collateral agent.  
RECITALS
WHEREAS, the Issuer, the Servicer, the Trustee and the Collateral Agent desire to amend the Original Indenture as provided herein.
WHEREAS, in accordance with (x) Section 15.1(b) of the Original Indenture, upon the Amendment Effective Date (as defined herein) the Required Facility Investors have consented to such amendment of the Original Indenture, (y) Section 15.1(g) of the Original Indenture, each Funding Agent and each Non-Conduit Committed Purchaser has consented to such amendment of the Original Indenture and (z) Section 15.16 of the Original Indenture, the Deal Agent has consented to such amendment of the Original Indenture.
WHEREAS, capitalized terms used in this Amendment and not otherwise defined herein or amended hereby shall have the meanings assigned to such terms in the Original Indenture. 
NOW THEREFORE, in consideration of the mutual agreements herein contained, each party agrees as follows for the benefit of the other parties and for the benefit of the Noteholders.
SECTION 1.Amendment to Definitions.       The definition of each of the following terms contained in Section 1.1 of the Original Indenture is hereby amended and restated to read in its entirety as follows:
“Maturity Date” shall mean the August 2033 Payment Date.

1

SECTION 2.    Amendment to Section 11.5(a).  The proviso to Section 11.5(a) of the Original Indenture is hereby amended to read in its entirety as follows:
provided, however, that the Trustee may not sell or otherwise liquidate, or direct the Collateral Agent to sell or otherwise liquidate, the Collateral which constitutes Loans and Pledged Assets following an Event of Default other than an Event of Default described in this Indenture resulting from an Insolvency Event, unless either (i) each of the Noteholders consent thereto, or (ii) the proceeds of such sale or liquidation distributable to the Noteholders are sufficient to discharge in full the amounts then due and unpaid upon the Series 2008-A Notes for principal and accrued interest and the fees and other amounts required to be paid prior to payment of amounts due on the Series 2008-A Notes pursuant to Section 11.6.
SECTION 3.    No Other Amendments.  Except as expressly amended, modified and supplemented hereby, the provisions of the Original Indenture are and shall remain in full force and effect.
SECTION 4.    FATCA.  For purposes of determining withholding taxes imposed under the Foreign Account Tax Compliance Act, as contained in Sections 1471 through 1474 of the Code, from and after the effective date of this Amendment, the Issuer shall treat, and hereby authorizes the Trustee to treat, the Notes as not qualifying as a "grandfathered obligation" within the meaning of Treasury Regulation section 1.1471-2(b)(2)(i).
SECTION 5.    Governing Law.  This Amendment is governed by and shall be construed in accordance with the laws of the State of New York and the obligations, rights and remedies of the parties hereunder shall be determined in accordance with such laws.
SECTION 6.    Counterparts.  This Amendment may be executed in two or more counterparts (and by different parties on separate counterparts), each of which shall be an original, but all of which together shall constitute one and the same instrument.
SECTION 7.    Headings.  The headings herein are for purposes of reference only and shall not otherwise affect the meaning or interpretation of any provision hereof.
SECTION 8.      Effectiveness.  This Amendment shall be effective upon the date (the “Amendment Effective Date”) that is the later of (i) the date hereof and (ii) the first date on which each of the following conditions precedent shall have been satisfied:
(a)    This Amendment shall have been executed and delivered by each of the parties hereto;
(b)    The Trustee shall have received the written consent of the Required Facility Investors, each Funding Agent, each Non-Conduit Committed Purchaser and the Deal Agent to this Amendment;

2

(c)    The Trustee shall have received any Opinions of Counsel required by the Trustee to be delivered to the Trustee; and
(d)    The Sixth Amendment to the Note Purchase Agreement dated as of August 27, 2015 shall have been executed and delivered by each party thereto. 

3

IN WITNESS WHEREOF, Issuer, the Servicer, the Trustee and the Collateral Agent have caused this Indenture to be duly executed by their respective officers as of the day and year first above written.

SIERRA TIMESHARE CONDUIT RECEIVABLES FUNDING II, LLC, 
  as Issuer

By: /s/ Joseph M. Hollingshead        
Name:  Joseph M. Hollingshead
Title:  President

WYNDHAM CONSUMER FINANCE, INC., 
  as Servicer

By: /s/ Joseph M. Hollingshead        
Name: Joseph M. Hollingshead 
Title:  President

WELLS FARGO BANK, NATIONAL ASSOCIATION,  
  as Trustee

By:  /s/ Jennifer C. Westberg            
Name: Jennifer C. Westberg
Title: Vice President 

U.S. BANK NATIONAL ASSOCIATION,  
  as Collateral Agent

By: Tamara Schultz-Fugh            
Name:  Tamara Schultz-Fugh
Title: Vice President

Sixth Amendment – 2008-A Indenture

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