Document:

EX-10.27

Exhibit 10.27

SECOND AMENDMENT TO CREDIT AGREEMENT 

          THIS SECOND AMENDMENT TO CREDIT AGREEMENT, dated as of October 28, 2008 (this “Amendment”), is
among TECHTEAM GLOBAL, INC., a Delaware corporation (the “Borrower”), the lenders set forth on the
signature pages hereof (collectively, the “Lenders”) and JPMORGAN CHASE BANK, N.A. a national
banking association, as administrative agent for the Lenders (in such capacity, the “Administrative
Agent”).

RECITALS

          A. The Borrower, the Administrative Agent and the Lenders are parties to a Credit Agreement,
dated as of June 1, 2007, as amended by a First Amendment to Credit Agreement and Consent dated as
of May 30, 2008 (as now and hereafter amended, the “Credit Agreement”), pursuant to which the
Lenders agreed, subject to the terms and conditions thereof, to extend credit to the Borrower.

          B. The Borrower desires to amend the Credit Agreement and the Administrative Agent and the
Lenders are willing to do so strictly in accordance with the terms hereof.

TERMS

          In consideration of the premises and of the mutual agreements herein contained, the parties
agree as follows:

ARTICLE 1.

AMENDMENTS

          Upon fulfillment of the conditions set forth in Article 3 hereof, the Credit Agreement shall
be amended as follows:

     1.1 Section 6.01(e) shall be amended by deleting the reference in clause (ii) therein to
“$1,000,000” and inserting “$2,000,000” in place thereof.

     1.2 Section 6.06 shall be amended and restated in its entirety to read as follows:

     SECTION 6.06. Restricted Payments. The Borrower will not, and will
not permit any of the Subsidiaries to, declare or make, or agree to pay or make,
directly or indirectly, any Restricted Payment, except (a) the Borrower may
declare and pay dividends with respect to its Equity Interests payable solely in
additional shares of its common stock, (b) Subsidiaries may declare and pay
dividends ratably with respect to their Equity Interests, (c) the Borrower may
make Restricted Payments pursuant to and in accordance with stock option plans or
other benefit plans for management or employees of the Borrower and the
Subsidiaries and (d) the Borrower may purchase up to 1,000,000 shares of its
common stock in connection with the stock buyback program discussed with the
Administrative Agent and the Lenders so long as (i) at the time of any purchase,
no Event of Default or Default shall have occurred and be continuing, and (ii) the
aggregate amount of such purchases does not exceed (A) during the period from
October 28, 2008 through December 31, 2008, $1,000,000 and (B) during each

 

 

calendar year thereafter until the Maturity Date, $3,000,000 each calendar year.

ARTICLE 2.

REPRESENTATIONS

          The Borrower represents and warrants to the Administrative Agent and the Lender that:

     2.1 The execution, delivery and performance of this Amendment is within its powers, has been
duly authorized and is not in contravention with any law, of the terms of its Certificate of
Incorporation or By-laws, or any undertaking to which it is a party or by which it is bound.

     2.2 This Amendment is the legal, valid and binding obligation of the Borrower enforceable
against it in accordance with the terms hereof.

     2.3 After giving effect to the amendments herein contained, the representations and warranties
contained in Article III of the Credit Agreement are true on and as of the date hereof with the
same force and effect as if made on and as of the date hereof.

     2.4 No Event of Default or exists or has occurred and is continuing on the date hereof.

ARTICLE 3.

CONDITIONS OF EFFECTIVENESS

          This Amendment shall become effective upon the first date (the “Effective Date”) on which each
of the following conditions to effectiveness have been satisfied:

     3.1 This Amendment shall be signed by the Borrower, the Administrative Agent and each Lender
and delivered to the Administrative Agent.

     3.2 The Guarantors shall have executed the Consent and Agreement at the end of this Amendment.

     3.3 The Borrower shall have paid a closing fee to the Administrative Agent to be distributed
to the Lenders as follows: (i) JPMorgan Chase Bank, N.A $15,625 and (ii) Bank of America, N.A.
$9,375.

ARTICLE 4.

MISCELLANEOUS.

     4.1 References in the Credit Agreement or in any note, certificate, instrument or other
document to the “Credit Agreement” shall be deemed to be references to the Credit Agreement as
amended hereby and as further amended from time to time.

     4.2 The Borrower agrees to pay and to save the Administrative Agent harmless for the payment
of all costs and expenses arising in connection with this Amendment, including the reasonable fees
of counsel to the Administrative Agent in connection with preparing this Amendment and the related
documents.

 

 

     4.3 The Borrower acknowledges and agrees that the Administrative Agent and the Lender have
fully performed all of their obligations under all documents executed in connection with the Credit
Agreement and all actions taken by the Administrative Agent and the Lender are reasonable and
appropriate under the circumstances and within their rights under the Credit Agreement and all
other documents executed in connection therewith and otherwise available. The Borrower represents
and warrants that it is not aware of any claims or causes of action against the Administrative
Agent or any Lender, any participant lender or any of their successors or assigns.

     4.4 Except as expressly amended hereby, the Borrower agrees that the Credit Agreement, the
Notes, the Security Documents and all other documents and agreements executed by the Borrower in
connection with the Credit Agreement in favor of the Administrative Agent or any Lender are
ratified and confirmed and shall remain in full force and effect and that it has no set off,
counterclaim or defense with respect to any of the foregoing. Terms used but not defined herein
shall have the respective meanings ascribed thereto in the Credit Agreement.

     4.5 This Amendment may be signed upon any number of counterparts with the same effect as if
the signatures thereto and hereto were upon the same instrument.

 

 

          IN WITNESS WHEREOF, the parties signing this Amendment have caused this Amendment to be
executed and delivered as of October 28, 2008.

	 	 	 	 	 
	 	TECHTEAM GLOBAL, INC.

 	 
	 	By:  	/s/ Margaret M. Loebl
 	 
	 	  Its: V.P., CFO, Treasurer 	 
	 	 	 	 
	 
	 	JPMORGAN CHASE BANK, N.A., as 
Administrative Agent and Individually as a Lender

 	 
	 	By:  	/s/ Dennis Camilleri
 	 
	 	   Its: Vice President 	 
	 	 	 	 
	 
	 	BANK OF AMERICA, N.A., a national banking

association, as successor by merger to LaSalle

Bank Midwest N.A.

 	 
	 	By:  	/s/ Neil Hilton
 	 
	 	   Its: Vice President 	 
	 	 	 	 

 

 

	 	 	 	 	 

CONSENT AND AGREEMENT

          As of the date and year first above written, the undersigned hereby:

          (a) fully consents to the terms and provisions of the above Amendment and the consummation of
the transactions contemplated thereby and agrees to all terms and provisions of the above Amendment
applicable to it;

          (b) agrees that each Guaranty and all other agreements executed by the undersigned in
connection with the Credit Agreement or otherwise in favor of the Administrative Agent or the
Lenders (collectively, the “Security Documents”) are hereby ratified and confirmed and shall remain
in full force and effect, as amended, and the undersigned acknowledges that it has no setoff,
counterclaim or defense with respect to any Security Document; and

          (c) acknowledges that its consent and agreement hereto is a condition to the Lenders’
obligation under this Amendment and it is in its interest and to its financial benefit to execute
this consent and agreement.

	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	TECHTEAM GLOBAL, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:

Title:
	 	Margaret M. Loebl
 

V.P., CFO, Treasurer
	 	 
	 
	 	 	 	 	 	 
	 	 	TECHTEAM CYNTERGY, L.L.C.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:

Title:
	 	/s/ Michael A. Sosin
 

Manager
	 	 
	 
	 	 	 	 	 	 
	 	 	TECHTEAM GOVERNMENT SOLUTIONS, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:

Title:
	 	/s/ Michael A. Sosin
 

Secretary
	 	 
	 
	 	 	 	 	 	 
	 	 	SYTEL, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:

Title:
	 	/s/ Michael A. Sosin
 

Secretary
	 	 
	 
	 	 	 	 	 	 
	 	 	ONVAIO, LLC	 	 
	 
	 	 	 	 	 	 
	 	 	By: TechTeam Global, Inc., its sole member	 	 
	 
	 	 	 	 	 	 
	 

	 	By:

Title:
	 	/s/ Michael A. Sosin
 

Vice PresidentEX-10.44

EXHIBIT 10.44

AGREEMENT

          THIS AGREEMENT is made this 4th day of November, 2008 between Clinton A. Sampson, an Executive
of Citizens Republic Bancorp, Inc (hereinafter “Executive”) and Citizens Republic Bancorp, Inc. on
behalf of itself and its direct and indirect subsidiaries (hereinafter “Citizens”).

RECITALS

     A. Executive is currently employed as a full time employee of Citizens and in the capacity of
Executive Vice President and Vice Chairman-Commercial Banking;

     B. Effective January 1, 2009, Executive will become employed by Citizens on a reduced hours
basis in the capacity of Commercial Banking Consulting Advisor;

     C. Executive and Citizens agree that Executive should be compensated for agreeing to
transition to a lesser paying reduced hours position;

     D. Executive has been given the opportunity to review this Agreement, and to consult legal
counsel if desired; and

     E. Executive and Citizens, without any admission of liability, desire to settle with finality,
compromise, dispose of, and release all claims and demands asserted or which could be asserted by
Executive arising out of the employment of Executive and his transition from full time employment
to part time employment.

     F. Executive and Citizens also desire to set forth in this Agreement the terms and conditions
that will apply to Executive’s employment with Citizens commencing January 1, 2009.

     In consideration of the foregoing and of the promises and the mutual covenants contained
herein, it is hereby agreed between Executive and Citizens as follows:

     1. Effective January 1, 2009 Executive’s employment with Citizens shall be reduced from five
(5) business days per week to three (3) business days per week with the exact days of the week to
be worked to be mutually agreed upon between the Executive and Citizens.

     2. Commencing January 1, 2009, Executive’s base salary shall be reduced from Two Hundred
Seventy Thousand and 00/100 ($270,000.00) Dollars to One Hundred Sixty Two Thousand and 00/100
($162,000.00) Dollars and shall be paid to Executive in equal bi-weekly installments less
appropriate withholdings. Executive shall continue to be eligible to participate in the welfare
and other benefit plans of Citizens on the same basis as are offered to other senior executives of
Citizens.

     3. Executive shall be eligible to participate in the 2009 Management Incentive Plan of
Citizens. Pursuant to such Plan, Executive shall be eligible to earn annual incentive compensation
equal to 30% of Executive’s 2009 base pay. The amount of incentive actually earned will depend
upon the financial performance of Citizens as well as Executive’s achievement of the individual
goals that will be established for Executive by Citizens.

     4. Executive shall be entitled to receive an allowance in the amount of Three Hundred Eighty
Four and 62/100 ($384.62) Dollars bi-weekly to reimburse Executive for the “all in” costs of
leasing a vehicle to be used on company business including insurance, gasoline, maintenance and
other related expenses.

     5. Executive shall continue to have the protections afforded to Executive pursuant to the
provisions of the Amended and Restated Change in Control Agreement between Executive and Citizens
dated February 26, 2008.

     6. Executive shall continue to be eligible to receive a Retention Bonus in the amount of One
Hundred Fifty Thousand and 00/100 ($150,000.00) Dollars as is provided for in the letter agreement
between Executive and Citizens dated August 2, 2006.

     7. No later than January 15, 2009, Citizens shall pay to Executive a one time lump sum payment
in the amount of Two Hundred Seventy Thousand and 00/100 ($270,000.00) Dollars, less appropriate
withholdings. Payment shall be made in a lump sum.

     8. Executive recognizes that the amount to be paid to Executive pursuant to Paragraph 7. above
is in excess of any earned wages, benefits or other compensation due and owing to Executive.

     9. In exchange for the good and valuable consideration set forth herein, Executive agrees for
himself, his heirs, administrators, representatives, executors, successors and assigns
(“Releasors”), to irrevocably and unconditionally release, waive and forever discharge any and all
manner of action, causes of action, claims, rights, promises, charges, suits, damages, debts,
lawsuits, liabilities, rights, dues controversies, charges,

 

 

complaints, remedies, losses, demands, obligations, costs, expenses, fees (including, without
limitation attorneys’ fees), or any and all other liabilities or claims of whatsoever nature,
whether arising in contract, tort, or any other theory of action, whether arising in law or in
equity, whether known or unknown, choate or inchoate, matured or unmatured, contingent or fixed,
liquidated or unliquidated, accrued or unaccrued, asserted or unasserted, including, but not
limited to, any claim and/or claim of damages or other relief for tort, breach of contract,
personal injury, negligence, age discrimination under The Age Discrimination In Employment Act of
1967 (as amended), employment discrimination prohibited by other federal, state or local laws
including sex, race, national origin, marital status, age, handicap, height, weight, or religious
discrimination, and any other claims for unlawful employment practices or any other unlawful
criterion or circumstance which Executive and Releasors had or now have against each or any of
Citizens, its parents, direct or indirect subsidiaries, divisions, affiliates and related companies
or entities, regardless of its or their form of business organization (the “Citizens Entities”),
any predecessors, successors, joint ventures, and parents of any Citizens Entity, and any and all
of their respective past or present directors, officers, shareholders, partners, employees,
consultants, independent contractors, trustees, administrators, insurers, agents, attorneys,
representatives and fiduciaries, successors and assigns including without limitation all persons
acting by, through, under or in concert with any of them (all collectively, the “Released Parties”)
arising out of or relating to his employment relationship with Citizens including but not limited
to the transition from full time employment to part time employment.

     10. Executive agrees that he shall continue as an employee “at will” serving at the pleasure
of the board of directors of Citizens and shall have no contractual right to employment with
Citizens.

     11. Executive agrees that the benefits of this Agreement are in lieu of any benefits that he
would otherwise be entitled to under any severance pay program sponsored by Citizens including
without limitation, the “Citizens Republic Bancorp Severance Pay Plan” and as such, Executive will
not be eligible for additional severance benefits should Executive’s position as described herein
be subsequently eliminated.

     12. Executive shall not be eligible to receive future grants of equity based long-term
incentive compensation provided however, current grants of restricted stock to Executive shall
continue to vest in the normal course so long as Executive continues to be employed by Citizens.

     13. Executive understands that he does not waive rights or claims that may arise after the
date this Agreement is executed.

     14. Executive further agrees that he has read this Agreement carefully and understands all of
its terms.

     15. Executive understands and agrees that he is advised to consult with an attorney prior to
executing this Agreement.

     16. Executive understands that he is entitled to consider this Agreement for at least
twenty-one (21) days before signing it. However, after due deliberation, Executive may elect to
sign this Agreement without availing himself of the opportunity to consider its provisions for at
least twenty-one (21) days. Executive hereby acknowledges that any decision to shorten the time
for considering this Agreement prior to signing it is voluntary,
and such decision is not induced by or through fraud, misrepresentation, or a threat to withdraw or
alter the provisions set forth in this Agreement in the event Executive elected to consider this
Agreement for at least twenty-one (21) days prior to signing it.

     17. Executive understands that he may revoke this Agreement as it relates to any potential
claim that could be brought or filed under the Age Discrimination in Employment Act, 29 U.S.C.
§§621-634, within seven (7) days after the date on which he signs this Agreement, and that this
Agreement as it relates to such a claim does not become effective until the expiration of the seven
(7) day period. In the event that Executive wishes to revoke this Agreement within the seven (7)
day period, he understands that he must provide such revocation in writing to Citizens Republic
Bancorp, Inc., Attn: William R. Hartman, 328 S. Saginaw Street, Flint, Michigan 48502.

     18. In agreeing to sign this Release and Settlement Agreement, Executive is doing so
voluntarily and agrees that he has not relied on any oral statements or explanations made by
Citizens or its representatives.

     19. This Agreement shall not be construed as an admission of wrongdoing by either Executive or
Citizens.

     20. This Agreement contains the entire Agreement between Executive and Citizens and, except as
expressly provided herein, shall supersede any other agreement between the parties with respect to
the subject matter hereof. Any modification of this Agreement must be made in writing and signed
by both Executive and Citizens.

 

 

	 	 	 	 	 	 	 
	/s/ Anthony E. Moore

	 	 
	 	/s/ Clinton A. Sampson
	 	 
	 

	 	 	 	 	 	 
	Anthony E. Moore

	 	 	 	Clinton A. Sampson	 	 
	Witness
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	Date: November 4, 2008	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	CITIZENS REPUBLIC BANCORP, INC.
	 
	 	 	 	 	 	 
	/s/ Anthony E. Moore

	 	 	 	/s/ William R. Hartman	 	 
	 

	 	 	 	 	 	 
	Anthony E. Moore

	 	 	 	William R. Hartman	 	 
	Witness

	 	 	 	Its: Chairman, President and	 	 
	 

	 	 	 	     Chief Executive Officer	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	Date: November 4, 2008

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