Document:

exv10w19

Exhibit 10.19

ESCROW AGREEMENT

     ESCROW AGREEMENT (this “Agreement”) dated as of October 30, 2009, among Genesis Fluid
Solutions Holdings, Inc., a Delaware corporation (the “Company”), Michael Hodges, a shareholder of
Genesis Fluid Solutions, Ltd., a Colorado corporation (“GFS”), that received shares of the Company
in the Merger (as defined below) (“Hodges”), and Sichenzia Ross Friedman Ference LLP, as escrow
agent (the “Escrow Agent”).

     WHEREAS, pursuant to an Agreement of Merger and Plan of Reorganization, dated as of the date
hereof (the “Merger Agreement”), among the Company, Genesis Fluid Solutions Acquisition Corp.
(“Merger Sub”) and GFS, Merger Sub shall be merged with and into GFS (the “Merger”);

     WHEREAS, at or prior to the closing of the Merger (the “Closing”), the Company shall deliver
to the Escrow Agent, to hold in an escrow account (the “Escrow Account”) pursuant to the terms of
this Agreement, (i) certificates representing in the aggregate 1,300,000 shares (the “Escrowed
Shares”) of the Company’s common stock, par value $0.001 per share (the “Common Stock”) that
represents a portion of the Merger consideration that was to be delivered by the Company to Hodges
but is being held back for satisfaction of certain claims or breaches of representations or
warranties, and costs, as more fully described herein, and (ii) any cash as may be delivered by
Hodges from time to time in order to withdraw an equivalent value of Escrowed Shares, as permitted
hereby (the “Escrowed Cash” and together with the Escrowed Shares, the “Escrowed Amount”). The
Escrowed Amount shall constitute a reserve established and to be managed and disbursed by the
Escrow Agent, in its sole and absolute discretion, to satisfy any Liabilities (as defined below);

     WHEREAS, the Company, Hodges and GFS desire to appoint Sichenzia Ross Friedman Ference LLP to
act as Escrow Agent for the Escrowed Amount and any other funds deposited or held in the Escrow
Account from time to time in accordance with this Agreement, including without limitation interest,
income or earnings thereon; and

     WHEREAS, the Company and Hodges desire that the Escrowed Amount shall be held in the Escrow
Account by the Escrow Agent to satisfy: (i) any and all claims, indebtedness or liabilities of GFS,
whether or not appearing on the balance sheet of GFS, (ii) breaches of representations, warranties
or covenants made by GFS in the Merger Agreement, and (iii) any potential taxes owed or claimed to
be owed by GFS for activities prior to the Closing (the “Liabilities”).

     NOW, THEREFORE, In consideration of the mutual covenants and agreements contained herein and
in the Merger Agreement, the parties hereto hereby agree as follows:

     1. Appointment.
Sichenzia Ross Friedman Ference LLP is hereby appointed the
Escrow Agent to accept, retain and dispose of the Escrowed Amount in accordance with the provisions
of this Agreement. The Escrow Agent hereby accepts such appointment and agrees to accept, retain
and dispose of the Escrowed Amount in accordance with the provisions of this Agreement.

 

 

     2. Deposit of Escrowed Amount.

          (a) At or prior to the Closing, the Company shall deposit with the Escrow Agent certificates
registered in the name of the Escrow Agent representing the Escrowed Shares.

          (b) At any time, and from time to time, Hodges may substitute Escrowed Cash in immediately
available funds, delivered to the Escrow Account in accordance with the wiring instructions
attached hereto as Annex I, in exchange for any unsold Escrowed Shares registered in the
Escrow Agent’s name. The amount of Escrowed Cash required to replace Escrowed Shares shall equal
$1.00 per Escrowed Share (subject to adjustment in the case of stock splits and similar
transactions). Hodges must provide at least 20 days prior written notice of his intention to
replace Escrowed Shares with Escrowed Cash, and the Escrow Agent shall within 15 days following
such request notify Hodges if the Escrow Agent will consent to such exchange. In no event shall
the Escrow Agent be obligated to honor any exchange request or refrain from sale or disposition of
Escrowed Shares, including following notice.

          (c) So long as the Escrow Agent is holding the Escrowed Cash or any other funds or cash in the
Escrow Account in accordance with this Agreement, it shall invest such Escrowed Cash, funds or cash
in a federally insured bank or money-market account. The Escrow Agent shall have no duty,
responsibility or obligation to invest any Escrowed Cash or any other funds or cash held in the
Escrow Account other than in accordance with Sections 2 and 3 hereof. The Escrow Agent shall have
no liability or responsibility for any investment losses, including without limitation any market
loss on any investment liquidated (whether at or prior to maturity) in order to make a payment
required under this Agreement. The Escrow Agent may, in making or disposing of any investment
permitted by this Agreement, deal with itself, in its individual capacity, or any of its
affiliates, whether or not it or such affiliate is acting as a subagent of the Escrow Agent or for
any third person or dealing as principal for its own account.

          (d) The Escrow Agent is hereby directed to hold the Escrowed Amount in the Escrow Account and
to retain and dispose of the Escrowed Amount in accordance with the provisions of this Agreement.

     3. Amounts Earned or Lost on Escrowed Amount. All amounts earned on the investment
of the Escrowed Cash shall be credited to, and shall become part of, the Escrowed Cash, and any
losses on any such investments shall be debited to the Escrowed Cash. The Escrow Agent is hereby
authorized and instructed to promptly deliver all amounts earned on the Escrowed Shares (dividends
or other distributions), upon the transfer of such amounts into the Escrow Account, and all amounts
in excess of the Liabilities as shall be finally determined, and unliquidated Escrowed Shares,
shall be delivered to Hodges upon termination of the Agreement, provided, however,
that if there remain any contingent Liabilities, the Escrow Agent may establish a reasonable
reserve for payment or settlement of such contingencies.

     4. Registration and Sale of Payment Shares; Payment of Liabilities.

          (a) As soon as practicable following the Closing of the Merger, the Company shall prepare and
file with the Securities and Exchange Commission a registration statement covering the

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Escrowed Shares. The Company shall use its best efforts to cause the registration statement
to be declared effective under the Securities Act of 1933, as amended (the “Securities Act”), as
soon as possible. The Company shall use its best efforts to keep the registration statement
continuously effective under the Securities Act for a period of 12 months, unless all Escrowed
Shares covered by such registration statement have been sold, or may be sold, without restriction
or limitation pursuant to Rule 144 of the Securities Act, as determined by the counsel to the
Company.

          (b) The Escrow Agent, upon receipt of written instructions from the Chief Financial Officer of
the Company, is hereby authorized and instructed to sell such number of Escrowed Shares as may be
reasonably required to satisfy any Liability as is set forth in the instruction. The Escrow Agent
shall deliver the proceeds to the claimant or to the Company to pay the Liabilities. In the event
the Escrow Agent has more proceeds than necessary to cover the Liabilities, such amount shall
remain in the Escrow Account pursuant to the terms of this Agreement. The Escrow Agent shall have
no liability or responsibility for the sales price of the Escrowed Shares, nor shall the Escrow
Agent be obligated to sell Escrowed Shares in any market, or in any particular manner, as long as
Escrow Agent acts reasonably, given the nature, timing and amount of such sales.

	     5.	 	Release of Escrowed Amount.

          (a) In the event GFS or the Company is found to be liable for a Liability, as soon as
practicable after the settlement or applicable judgment is issued and receipt by the Escrow Agent
of written instructions from the Chief Financial Officer of the Company, the Escrow Agent is hereby
authorized and instructed to deliver to the Company or the claimant an amount of Escrowed Cash or
Escrowed Shares equal to the amount of such Liability. If the Escrowed Cash at any time is not
sufficient to cover such Liability, then the Escrow Agent shall be entitled to sell the
certificates representing such number of Escrowed Shares equal to the remaining amount of the
Liability, and the Escrow Agent shall deliver such proceeds from the sale to the claimant or the
Company to be used to satisfy the Liability. The Escrow Agent shall have complete and absolute
discretion on the method and timing of the sale.

          (b) Subject to the provisions of Sections 6, 7 and 8 below, at or as soon as practicable after
the three (3) year anniversary of the date hereof (the “Release Date”), the Escrow Agent is hereby
authorized and instructed to deliver to Hodges the certificates representing all remaining Escrowed
Shares and the remaining Escrowed Cash held in the Escrow Account.

     6. Claims Against Escrowed Amount. At any time or times prior to the Release Date,
the Company may make claims for Liabilities against the Escrowed Amount. The Company shall
simultaneously notify Hodges and the Escrow Agent in writing of each such claim (the “Claim
Notice”), which shall include a brief description of the amount and nature of such claim, and a
good faith estimate of the amount of cash and the number of shares, if any, to be withheld by the
Escrow Agent if such claim is not resolved or otherwise adjudicated by the Release Date. If Hodges
shall reasonably dispute such claim, he shall give written notice thereof to the Company and to the
Escrow Agent (the “Dispute Notice”) so that the Dispute Notice is received by the Company and the
Escrow Agent within twenty (20) calendar days after the date on which the Escrow Agent and Hodges
received such Claim Notice, in which case the Escrow Agent is hereby authorized and instructed to
continue to hold the cash and shares specified in the Claim Notice in accordance with the terms of
this Agreement.

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If the Escrow Agent does not receive the Dispute Notice within such twenty-day period, then such
claim shall be deemed to have been acknowledged by Hodges as valid and the Escrow Agent is hereby
authorized and instructed to promptly deliver to the Company, the amount of cash and the number of
shares in the amounts specified in the Claim Notice. If the amount of the claim exceeds the
Escrowed Amount, the Escrow Agent shall not have any liability or responsibility for any
deficiency. The Escrow Agent shall have no liability or responsibility for the performance of any
calculations pursuant to this Agreement.

     7. Disputed Claims.

          (a) If Hodges shall dispute a Claim Notice issued by the Company within such twenty-day period
as provided above, the Escrow Agent shall set aside the cash and shares specified in the Claim
Notice (the “Set Aside Amount”). In the event the Company notifies the Escrow Agent in writing
(the “Expense Notice”) that it has made out-of-pocket expenditures or anticipates that it will
incur legal expenses in connection with any such disputed claim, the Escrow Agent shall also set
aside the cash and shares specified in the Expense Notice, which shall be added to and become a
part of the Set Aside Amount, which aggregate Set Aside Amount shall be set forth in a written
notice to the Escrow Agent and Hodges executed by the Company; provided, however,
that in the event and to the extent that it shall be agreed (as evidenced by a written notice
executed by the Company and Hodges) or determined through a proceeding described in Section 7(b)
below, that the Company is not entitled to indemnification with respect to such claim, then the
Company shall not be entitled to such shares or such cash and the Escrow Agent is hereby authorized
and instructed to hold the shares and cash in the Escrow Account until the Release Date and such
amount shall then be distributed in accordance with the terms of this Agreement.

          (b) If within thirty (30) days after the date on which the Escrow Agent received a Dispute
Notice, the Escrow Agent has not received written notice executed by the Company and Hodges stating
that the disputed indemnification claim has been resolved, the Escrow Agent is hereby authorized
and instructed to continue to hold the Set Aside Amount until directed to distribute it pursuant to
(i) a final non-appealable order of a court of competent jurisdiction or taxing authority (or the
expiration of any applicable appeal period) or (ii) joint instructions or directions furnished in
writing signed by the Company and Hodges. In no event shall the Escrow Agent be responsible for
any fees or expenses of any party to any litigation proceeding.

     8. Termination; Distribution. Except as set forth in Sections 9 and 10 hereof, this
Agreement shall terminate on the Release Date, provided that there are no outstanding
Liability claims as to which the Escrow Agent has received a Claim Notice pursuant to Section 6
hereof; otherwise this Agreement shall continue in effect until the resolution of all such
Liability claims. On the Release Date or as soon thereafter as is practicable, pursuant to and in
accordance with joint written instructions of the Company and Hodges, the Escrow Agent is hereby
authorized and instructed to distribute the remaining Escrowed Amount less (i) the amount of any
then existing Set Aside Amount and (ii) the amount specified by the Company in any Claim Notice
delivered to the Escrow Agent on or within 30 days prior to the Release Date with respect to which
no Set Aside Amount has yet been established, and the Escrow Agent has not otherwise been
instructed in writing by the Company and Hodges. At such time thereafter as any remaining
Liability claim hereunder has been resolved and the Escrow Agent has received a written notice
executed by the Company and Hodges to that effect and any shares to be

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distributed to the Company for cancellation and any cash in connection therewith have been so
distributed, the Escrow Agent is hereby authorized and instructed to distribute any portion of the
remaining Escrowed Amount relating to such Liability claim to Hodges, and this Agreement shall then
terminate. The Company shall not be required to issue certificates for fractional shares in any
distribution of Escrowed Shares pursuant to this Agreement; but rather shall be entitled to round
such shares to a whole number, based upon a reasonable method to be agreed upon by the Company and
Hodges.

     9. The Escrow Agent.

          (a) The Escrow Agent is expressly authorized and directed, but shall not be obligated, to
charge against and withdraw from the Escrow Account for its own account or for the account of an
Indemnitee (as hereinafter defined) any amounts due to the Escrow Agent under this Section 9(a) or
to an Indemnitee under Section 9(b). To the extent that (i) the Escrow Agent in its sole
discretion decides to charge against and withhold from the Escrow Account any such amounts and the
Escrowed Amount is insufficient to pay the amounts due to the Escrow Agent under this Section 9(a)
or to an Indemnitee under Section 9(b) or (ii) the Escrow Agent decides not to charge and withhold
any such amounts from the Escrow Account, the Company agrees to pay such amounts to the Escrow
Agent or such Indemnitee on demand. The obligations contained in this Section 9(a) shall survive
the termination of this Agreement and the resignation or removal of the Escrow Agent.

          (b) The Company agrees to indemnify, defend, protect, save and keep harmless the Escrow Agent
and its affiliates and their respective successors, assigns, directors, officers, partners,
managers, employees, agents, attorneys, accountants and experts (collectively the “Indemnitees”),
from and against any and all losses, damages, claims, liabilities, penalties, judgments,
settlements, actions, suits, proceedings, litigation, investigations, costs or expenses, including
without limitation reasonable fees and disbursements of counsel (collectively “Losses”), that may
be imposed on, incurred by, or asserted against any Indemnitee, at any time, and in any way
relating to or arising out of the execution, delivery or performance of this Agreement, the
enforcement of any rights or remedies under or in connection with this Agreement, the establishment
of the Escrow Account, the acceptance or administration of the Escrowed Amount and any payment,
transfer or other application of funds pursuant to this Agreement, or as may arise by reason of any
act, omission or error of the Indemnitee. The obligations contained in this Section 9(b) shall
survive the termination of this Agreement and the resignation or removal of the Escrow Agent.

          (c) The Escrow Agent shall not be liable for any error of judgment or for any action taken,
suffered or omitted to be taken, except in the case of its own gross negligence or bad faith, as
determined by a final, non-appealable order, judgment, decree or ruling or a court of competent
jurisdiction. In no event shall the Escrow Agent be (i) liable for acting in accordance with a
notice, instruction, direction, request or other communication, paper or document from Hodges, the
Company or any other person or entity authorized to deliver such hereunder, or (ii) liable or
responsible for special, punitive, indirect, consequential or incidental loss or damages of any
kind whatsoever to any person or entity (including without limitation lost profits), even if the
Escrow Agent has been advised of the likelihood of such loss or damage. Any liability of the
Escrow Agent under this Agreement will be limited to the amount of fees paid to the Escrow Agent.

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          (d) The Escrow Agent shall act hereunder as an escrow agent only and shall not be responsible
or liable in any matter whatsoever for the sufficiency, collection, correctness, genuineness or
validity or any revenues, cash, payments, securities, property, funds, investments, income,
earnings, or other amounts deposited with or held by it or for the identity, authority or rights of
any person or entity executing and delivering or purporting to execute or deliver any thereof to
the Escrow Agent.

          (e) The Escrow Agent shall be fully protected in acting upon any written notice, instruction,
direction, request or other communication, paper or document which the Escrow Agent believes to be
genuine, and shall have no duty to inquire into or investigate the validity, accuracy or content or
any thereof.

          (f) In the event that the Escrow Agent shall be uncertain as to its duties or rights
hereunder, the Escrow Agent shall be entitled to refrain from taking any action other than to keep
safely the Escrowed Amount until it shall (i) receive written instructions signed by Hodges and the
Company; or (ii) is directed otherwise by a court of competent jurisdiction. The Escrow Agent
shall not be liable for failure to act if in reasonable doubt as to its duties under this
Agreement.

          (g) The Escrow Agent may consult with and obtain advice from counsel (who may be counsel to a
party hereto) and shall be fully protected in taking or omitting to take any action in reliance on
said advice.

          (h) The Escrow Agent shall have no duties, responsibilities or obligations as the Escrow Agent
except those which are expressly set forth herein, and in any modification or amendment hereof to
which the Escrow Agent has consented in writing, and no duties, responsibilities or obligations
shall be implied or inferred. Without limiting the foregoing, the Escrow Agent shall not be subject
to, nor be required to comply with, or determine if any person or entity has complied with, the
Merger Agreement or any other agreement between or among the parties hereto, even though reference
thereto may be made in this Agreement, or to comply with any notice, instruction, direction,
request or other communication, paper or document other than as expressly set forth in this
Agreement.

          (i) The Escrow Agent shall not be obligated to expend or risk its own funds or to take any
action which it believes would expose it to expense or liability or to a risk of incurring expense
or liability, unless it has been furnished with assurances of repayment or indemnity satisfactory
to it.

          (j) The Escrow Agent shall not take instructions or directions except those given in
accordance with this Agreement.

          (k) The Escrow Agent shall not incur any liability for not performing any act, duty,
obligation or responsibility by reason of any occurrence beyond the control of the Escrow Agent
(including without limitation any act or provision of any present or future law or regulation or
governmental authority, any act of God, war, civil disorder or failure of any means of
communication).

          (l) The Escrow Agent shall not be called upon to advise any person or entity as to any
investments with respect to any security, property or funds held in escrow hereunder or the
dividends, distributions, income, interest or earnings thereon.

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          (m) The Escrow Agent shall have no duty to make inquiry as to the genuineness, accuracy or
validity of any statements or instructions or any signatures on statements or instructions.

          (n) The Escrow Agent shall have the right at any time to resign hereunder by giving written
notice of its resignation to the parties hereto, at the addresses set forth herein or at such other
addresses as the parties shall provide in writing, at least thirty (30) days prior to the date
specified for such resignation to take effect. In such event, Hodges and the Company shall appoint
a successor escrow agent within said thirty (30) days. If Hodges and the Company do not designate
a successor escrow agent within such period, the Escrow Agent may appoint a successor escrow agent.
Upon the effective date of such resignation, the Escrowed Amount held by the Escrow Agent shall be
delivered by it to such successor escrow agent. In the event a successor escrow agent has not been
appointed within thirty (30) days, the Escrowed Amount held by the Escrow Agent shall be delivered
to and deposited with a court of competent jurisdiction to act as successor escrow agent. Upon the
delivery of the Escrowed Amount to a successor escrow agent pursuant to this Section 9(n), the
Escrow Agent shall be relieved of all liability hereunder.

          (o) The Escrow Agent may be removed by mutual agreement of the parties upon written notice to
the Escrow Agent stating such removal and designating a successor escrow agent and, upon delivery
of the Escrowed Amount held by the Escrow Agent to such successor escrow agent, the Escrow Agent
shall be relieved of all liability hereunder.

          (p) In the event that the Escrow Agent should at any time be confronted with inconsistent or
conflicting claims or demands by the parties hereto, the Escrow Agent shall have the right to
interplead said parties in any court of competent jurisdiction and request that such court
determine the respective rights of such parties with respect to this Agreement and, upon doing so,
the Escrow Agent shall be released from any obligations or liability to either party as a
consequence of any such claims or demands.

          (q) The Escrow Agent may execute any of its powers or responsibilities hereunder and exercise
any rights hereunder, either directly or by or through its agents, attorneys, accountants or other
experts.

          (r) The Escrow Agent shall not be responsible for and shall not be under a duty to examine,
inquire into or pass upon the validity, binding effect, execution or sufficiency of this Agreement
or of any amendment or supplement hereto.

     10. Tax Issues. The parties hereto acknowledge that the Escrow Agent does not have
any interest in the Escrowed Amount or the Escrow Account, but is serving as escrow holder
hereunder. Without limiting the foregoing, the Company and Hodges shall be responsible for any
taxes relating to the Escrowed Amount, the Escrow Account and funds on deposit therein and the
income and earnings thereon. Any disbursement of the Escrowed Amount or payments from the Escrow
Account shall be subject to withholding taxes and regulations then in force under the United States
Federal Income Tax Code. The Company and Hodges will provide the Escrow Agent with appropriate
forms for tax
certifications, as requested by the Escrow Agent. This Section 10 shall survive the termination of
this Agreement and the resignation or removal of the Escrow Agent.

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     11. Voting Rights. The Escrow Agent hereby agrees to permit Michael Hodges to vote
the Escrowed Shares held in the Escrow Account in his discretion, pursuant to a proxy to be
provided by the Escrow Agent.

     12. Compliance with Process. Notwithstanding anything in this Agreement to the
contrary, if at any time the Escrow Agent is served with any judicial or administrative order,
judgment, decree, writ or other form of judicial or administrative process which in any way affects
the Escrow Agent, the Escrow Account or the Escrowed Amount (including without limitation orders of
attachment or garnishment or levies or injunctions), the Escrow Agent is authorized to comply
therewith in any manner it deems appropriate, and shall be fully protected from doing so even if
such order, judgment, decree, writ or process may be subsequently amended, modified, vacated or
otherwise determined to be invalid or without legal force or effect.

     13. Cumulative Remedies. The rights and remedies of the Escrow Agent set forth in
this Agreement shall be cumulative, and not exclusive, of any rights and remedies available to it
at law or equity or otherwise.

     14. Governing Law. This Agreement is governed by the laws of New York without regard
to its conflict of law provisions, and shall inure to the benefit of and be binding upon the
successors, assigns, heirs and personal representatives of the parties hereto. Each party hereto
hereby irrevocable submits to the personal jurisdiction of the state and federal courts located
within the City and State of New York with respect to any action, suit or proceeding relating to or
arising from this Agreement. Each party hereto irrevocably waives (i) any claim or defense based
upon improper venue or inconvenient forum with respect to any action, suit or proceeding brought in
any such court and (ii) the right to trial by jury in any action, suit or proceeding relating to or
arising under this Agreement. Each party waives personal service of process and consents to the
service of process by the manner set forth in Section 15 below, in addition to any other method of
service of process permitted by applicable law.

     15. Counterparts. This Agreement may be executed in one or more counterparts, each of
which shall be deemed an original and all of which together shall be considered one and the same
document, and shall become a binding agreement when one or more counterparts have been signed by
each party hereto and delivered to each other party or such party’s representative.

     16. Notices. Any notice or other communication required or permitted hereunder shall
be in writing and shall be deemed given when so delivered in person, by FedEx or equivalent
overnight courier, by facsimile transmission (with receipt confirmed by telephone or by automatic
transmission report) or two business days after being sent by registered or certified mail (postage
prepaid, return receipt requested), as follows:

          TO HODGES:

Michael Hodges

c/o Genesis Fluid Solutions, Ltd.

6660 Delmonico Drive, Suite 242-D

Colorado Springs, CO 80919

Fax:                                         

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          TO THE ESCROW AGENT:

Sichenzia Ross Friedman Ference LLP

61 Broadway, 32nd Floor

New York, New York 10006

Attention: Harvey Kesner, Esq.

Fax: (212) 930-9725

          TO THE COMPANY:

Genesis Fluid Solutions Holdings, Inc.

6660 Delmonico Drive, Suite 242-D

Colorado Springs, CO 80919

Attention: Michael Hodges

Fax:                                         

          and a copy to:

Sichenzia Ross Friedman Ference LLP

61 Broadway, 32nd Floor

New York, New York 10006

Attention: Harvey Kesner, Esq.

Fax: (212) 930-9725

Addresses may be changed by written notice given to each of the other parties hereto pursuant to
this Section. Any notice given hereunder may be given on behalf of any party by his counsel or
other authorized representative.

     17. Entirety of Agreement. This Agreement (and the exhibits and schedules hereto)
together with the Merger Agreement (and the exhibits and schedules thereto), constitutes the entire
agreement of the parties with respect to the subject matter hereof, and supersedes any prior oral
or written agreements in regard thereto.

     18. Amendment. This Agreement may be modified or amended only by an instrument in
writing, duly executed by each of the parties hereto.

     19. Nonwaiver. No waiver by any party of any provision contained in this Agreement
(or any breach thereof) shall be effective unless it is in writing executed by the party against
which such waiver is to be enforced. No waiver shall be deemed or construed as a further or
continuing waiver of any such provision (or breach) on any other occasion or as a waiver of any
other provision (or of the breach of any other provision) contained in this Agreement on the same
or any other occasion.

     20. Headings. The headings and titles in this Agreement are inserted for convenience
of reference only and shall not constitute a part hereof.

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     21. Conflicts and Severability. In the event of any conflict between the terms and
provisions of this Agreement and those of the Merger Agreement, the terms and conditions of this
Agreement shall control. If any provisions of this Agreement is determined to be prohibited or
unenforceable by reason of any applicable law of a jurisdiction then such provision shall, as to
such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without
invalidating the remaining provisions thereof, and any such prohibition or unenforceability in such
jurisdiction shall not invalidate or render unenforceable such provisions in any other
jurisdiction. Where, however, the conflicting provisions of any such applicable law may be waived,
they are hereby irrevocably waived by the parties hereto to the fullest extent permitted by law, to
the end that this Agreement shall be enforced as written.

     22. Construction. In this Agreement (i) words denoting the singular include the
plural and vice versa, (ii) “it” or “its” or words denoting any gender include all genders, (iii)
the word “including” shall mean “including without limitation,” whether or not expressed, (iv) any
reference herein to a Section refers to a Section of this Agreement, unless otherwise stated, and
(v) when calculating the period of time within or following which any act is to be done or steps
taken, the date which is the reference day in calculating such period shall be excluded and if the
last day of such period is not a business day, then the period shall end on the next day which is a
business day.

[SIGNATURE PAGE FOLLOWS]

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     IN WITNESS WHEREOF, the parties hereto have caused this Escrow Agreement to be duly executed
as of the day and year first above written.

	 	 	 	 	 

	 	 	GENESIS FLUID SOLUTIONS HOLDINGS, INC.
	 
	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 

	 	 	 	Name:
	 

	 	 	 	Title:
	 
	 	 	 	 
	 	 	Sichenzia Ross Friedman Ference LLP, as Escrow Agent
	 
	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 

	 	 	 	Name:
	 

	 	 	 	Title:
	 
	 	 	 	 
	 	 	 
	 	 	Michael Hodges

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ANNEX I

Wiring Instructions

12exv10w1

Exhibit
10.1

AMENDMENT NO. 4 TO CREDIT AGREEMENT

     AMENDMENT NO. 4 TO CREDIT AGREEMENT, dated as of May 28, 2010 (the “Amendment”) to the CREDIT
AGREEMENT dated as of March 11, 2009, by and between GLOBECOMM SYSTEMS INC., a Delaware corporation
(the “Company”) and CITIBANK N.A., a national banking association (the “Bank”) (as same has been
and may be further amended, restated, supplemented or otherwise modified, from time to time, the
“Credit Agreement”).

RECITALS

     The Company has requested and the Bank has agreed, subject to the terms and conditions of this
Amendment, to amend certain provisions of the Credit Agreement as herein set forth.

     Accordingly, in consideration of the premises and of the mutual covenants and agreements
hereinafter set forth, the parties hereto agree as follows:

     1. Amendments.

          (a) The following definitions in Section 1.01 of the Credit Agreement are hereby amended and
restated in their entirety to provide as follows:

“Alternate Base Rate” shall mean the highest of (i) the Prime Rate; (ii) the
Federal Funds Effective Rate from time to time plus 0.5%; and (iii)
two hundred (200) basis points in excess of the floating rate of interest
determined, on a daily basis, by the Bank in accordance with its customary
procedures and utilizing such electronic or other quotation sources as it
considers appropriate to be the prevailing rate per annum in effect each
banking day at which deposits in Dollars for a one month period, determined
by the Bank in its sole discretion, are offered to the Bank by first class
banks in the London interbank market shortly after 11:00 a.m. (London time)
two banking days prior to the date such rate of interest shall be effective
and applied to existing and future advances under Alternate Base Rate Loans.
Any change in the Alternate Base Rate due to a change in the Prime Rate or
the Federal Funds Effective Rate shall be effective from and including the
effective date of such change in the Prime Rate or the Federal Funds
Effective Rate, respectively.

“Consolidated Capital Base” shall mean, on a Consolidated basis for the
Financial Parties, the sum of (i) shareholders equity, as reflected on the
Consolidated balance sheet of the Company and the other Financial Parties
plus (ii) Subordinated Debt minus the sum of (x) intangible
assets, (y) items recorded as “due from” shareholders, employees, or
Affiliates of the Company, and (z) investments in Affiliates other than the
Guarantors, all as determined in accordance with Generally Accepted
Accounting Principles, applied on a consistent basis.

“Consolidated Current Portion of Long Term Debt” shall mean for the
Financial Parties on a Consolidated basis, current portion of long term debt
as reflected on the Consolidated balance sheet of the Company and the other
Financial Parties as determined in accordance with Generally Accepted
Accounting Principles, applied on a consistent basis.

“Consolidated EBITDA” shall mean, on any date of determination, Consolidated
Net Income (whether income or loss) for such period, plus the sum, without

1

 

duplication, of (a) Consolidated Interest Expense, (b) depreciation and
amortization expenses or charges, and (c) all income taxes to any government
or governmental instrumentality expensed on any Financial Party’s books
(whether paid or accrued), minus all extraordinary or unusual gains, in each
case, determined on a Consolidated basis for the Financial Parties in
accordance with Generally Accepted Accounting Principles applied on a
consistent basis. All of the foregoing categories shall be calculated
(without duplication) over the four fiscal quarters ending on or most
recently ended prior to the date of determination thereof.

“Consolidated Interest Expense” shall mean the Consolidated interest expense
of the Financial Parties, determined in accordance with Generally Accepted
Accounting Principles, applied on a consistent basis.

“Consolidated Liquidity Ratio” shall mean the ratio of (a) the sum of (i)
Consolidated Unrestricted Cash plus (ii) Consolidated Net Accounts
Receivables to (b) the sum of, without duplication, (i) Consolidated Current
Portion of Long Term Debt plus (ii) the Aggregate Letters of Credit
Outstanding, other than cash secured letters of credit, plus (iii)
Consolidated current liabilities, all as determined for the Financial
Parties, on a Consolidated basis, in accordance with Generally Accepted
Accounting Principles, applied on a consistent basis.

“Consolidated Net Accounts Receivable” shall mean, any and all rights to
payment for goods sold or leased or for services rendered, including
accounts, contract rights, general intangibles and any such right evidenced
by chattel paper, instruments or documents, minus any reserves held by any
Financial Party in connection with such accounts receivable (including
reserves for bad debts), all determined with respect to the Financial
Parties, on a Consolidated basis, in accordance with Generally Accepted
Accounting Principles, applied on a consistent basis.

“Consolidated Net Income” shall mean, for any period, the net income (or net
loss) of the Financial Parties, on a Consolidated basis, for such period
determined in accordance with Generally Accepted Accounting Principles
applied on a consistent basis.

“Consolidated Subordinated Indebtedness” shall mean the Consolidated
Subordinated Indebtedness of the Financial Parties, determined in accordance
with Generally Accepted Accounting Principles, applied on a consistent
basis.

“Consolidated Total Liabilities” shall mean all of the liabilities of the
Financial Parties, on a Consolidated basis, including all items which, in
accordance with Generally Accepted Accounting Principles would be included
on the liability side of the balance sheet determined in accordance with
Generally Accepted Accounting Principles applied on a consistent basis.

“Consolidated Unrestricted Cash” shall mean all cash and cash equivalents of
the Financial Parties, on a Consolidated basis, held at the Bank or any
Affiliate of the Bank which is not subject to any restriction on usage or
subject to any Lien other than a Lien in favor of the Bank or such
Affiliate.

2

 

“Consolidated Unsubordinated Liabilities” shall mean for the Financial
Parties, Consolidated Total Liabilities less Consolidated
Subordinated Indebtedness, all as determined in accordance with Generally
Accepted Accounting Principles.

“Permitted Acquisition” shall mean any acquisition (whether by merger
or otherwise) by the Company or any Subsidiary of the Company of more than
50% of the outstanding capital stock, membership interests, partnership
interests or other similar ownership interests of a Person which is engaged
in a line of business similar to the business (or reasonable extensions
thereof) of the Company or such Subsidiary or the purchase of all or
substantially all of the assets owned by such Person or the purchase of a
division, business unit or product line of a Person; provided (a) the Bank
shall have received, simultaneously with the closing of such Permitted
Acquisition, those documents required to be delivered pursuant to Section
6.10 hereof, if any; (b) the Bank shall have received evidence reasonably
satisfactory to it that the shares or other interests in the Person, or the
assets of the Person, which is the subject of the Permitted Acquisition are,
or will be promptly following the closing of such Permitted Acquisition,
free and clear of all Liens, except Permitted Liens, including, without
limitation, with respect to the acquisition of shares or other equity
interests, free of any restrictions on transfer other than restrictions
applicable to the sale of securities under federal and state securities laws
and regulations generally; (c) the Bank shall have received not less than
five (5) Business Days preceding the closing of such Permitted Acquisition,
the documentation governing the proposed acquisition, including, without
limitation, the purchase agreement with respect thereto, together with such
other additional documentation or information with respect to the proposed
acquisition as the Bank may reasonably require; (d) no Default or Event of
Default shall have occurred and be continuing immediately prior to or would
occur after giving effect to the Acquisition on a pro forma
basis and the Bank shall have received projections and pro forma financial
statements, each in form and content reasonably satisfactory to the Bank,
showing that no Default or Event of Default shall have occurred after giving
effect to such acquisition; (e) the acquisition has either (i) been approved
by the Board of Directors or other governing body of the Person which is the
subject of the acquisition or (ii) been recommended for approval by the
Board of Directors or other governing body of such Person to the
shareholders or other members of such Person and subsequently approved by
the shareholders or such members if shareholder or such member approval is
required under applicable law or the by-laws, certificate of incorporation
or other governing instruments of such Person; (f) prior to the closing of
any such acquisition, the Company shall have delivered evidence reasonably
satisfactory to the Bank that (i) on a pro forma basis, the
Company will be in compliance with the financial condition covenants of
Section 7.13 hereof upon completion of such Acquisition; and (ii) that the
Person that is the subject of such Permitted Acquisition does not have a
negative EBITDA, as calculated on a rolling four-quarter basis, or, if such
Person has a negative EBITDA except as permitted by Section 7.06 below; and
(g) not more than three (3) Permitted Acquisitions may be consummated
between the 2010 Amendment Effective Date and the Term Loan Commitment
Expiration Date, of which only two (2) Permitted Acquisitions may be Foreign
Permitted Acquisitions, subject to Section 7.06 below.

3

 

“Revolving Credit Commitment” shall mean the obligation of the Bank to make
Revolving Credit Loans to the Company in an aggregate amount not to exceed
$10,000,000.

“Revolving Credit Commitment Termination Date” shall mean the earlier of (a)
the Term Loan Commitment Expiration Date and (b) May 26, 2011.

“Subordinated Debt” or “Subordinated Indebtedness” shall mean all debt which
is subordinated in right of payment to the prior indefeasible payment in
full of the Obligations of the Company and/or any Guarantor to the Bank, on
terms reasonably satisfactory to and approved in writing by the Bank.

“Term Loan Commitment” shall mean the Bank’s obligation to make Term Loans
on or prior to the Term Loan Commitment Expiration Date in an amount not to
exceed $40,000,000, of which $12,083,333.34 is outstanding and unpaid as of
the 2010 Amendment Effective Date.

“Term Loan Commitment Expiration Date” shall mean the earlier of (a) the
Revolving Credit Commitment Termination Date and (b) May 26, 2011.

“Total Credit Commitment” shall mean $65,000,000.

          (b) The following definitions are hereby added to Section 1.01 of the Credit Agreement in
their appropriate alphabetical order:

“2010 Amendment Effective Date” shall mean May 28, 2010.

“EBITDA” shall mean, on any date of determination, net income (or net loss)
of such Person for such period, plus the sum, without duplication,
of (a) interest expense of such Person, (b) depreciation and amortization
expenses or charges of such Person, and (c) all income taxes to any
government or governmental instrumentality expensed on such Person’s books
(whether paid or accrued), minus (d) all extraordinary and unusual
gains of such Person, in each case, determined with respect to such Person
in accordance with Generally Accepted Accounting Principles applied on a
consistent basis. All of the foregoing categories shall be calculated
(without duplication) over the four fiscal quarters ending on or most
recently ended prior to the date of determination thereof.

“Financial Parties” shall mean the Company and the Guarantors, on a
Consolidated basis. “Financial Party” means each of the Company and the
Guarantors, on an individual basis.

“Foreign Permitted Acquisitions” shall mean a Permitted Acquisition that
involves the acquisition of ownership interests of a Non-Domestic Person or
the purchase of all or substantially all of the assets owned by a
Non-Domestic Person.

“Non-Conforming Subsidiaries” shall mean, collectively, all Non-Domestic
Subsidiaries of the Company or any Guarantor which have negative EBITDA at
the time of such Subsidiaries’ acquisition pursuant to a Foreign Permitted
Acquisition. “Non-Conforming Subsidiary” shall mean each such Non-Domestic
Subsidiary, individually.

4

 

“Non-Guarantor Subsidiary” shall have the meaning set forth in Section 6.10
hereof.

“SEC” shall mean the Securities and Exchange Commission.

“Standby LC Disbursement” shall mean a payment made by the Bank pursuant to
a Standby Letter of Credit.

“Standby LC Exposure” shall mean, at any time, the sum of (a) the aggregate
undrawn amount of all outstanding Standby Letters of Credit at such time,
plus (b) the aggregate amount of all Standby LC Disbursements that
have not yet been reimbursed by or on behalf of the Company at such time

          (c) References to the text “the Company and its Subsidiaries” in Section 1.02 of the
Credit Agreement are hereby amended and replaced with the text “the Financial Parties”.

          (d) The first sentence of Section 2.02 of the Credit Agreement is hereby amended and restated
in its entirety to provide as follows:

The Revolving Credit Loans made by the Bank shall be evidenced by a
promissory note of the Company, substantially in the form attached hereto as
Exhibit A (as amended, restated, supplemented or modified, from time
to time, the “Revolving Credit Note”), appropriately completed, duly
executed and delivered on behalf of the Company and payable to the order of
the Bank in a principal amount equal to the Revolving Credit Commitment).

          (e) Section 2.03(a) of the Credit Agreement is hereby amended and restated in its entirety to
provide as follows:

“Subject to the terms and conditions set forth in this Agreement including
Section 7.06 hereof, the Bank agrees to make loans (individually, a “Term
Loan” and, collectively, the “Term Loans”) to the Company at any time and
from time to time during the Term Loan Commitment Period, in an aggregate
principal amount outstanding not to exceed the Term Loan Commitment,
provided, however, that no Term Loan shall be made if, after
giving effect to such Term Loan, the Aggregate Outstandings would exceed the
Total Credit Commitment in effect at such time. Each borrowing of a Term
Loan shall be in a minimum principal amount of $5,000,000. During the Term
Loan Commitment Period, the Company may from time to time borrow, repay and
reborrow hereunder on or after the date hereof and prior to the Term Loan
Commitment Expiration Date, subject to the terms, provisions and limitations
set forth herein, provided that availability under the Term Loan Commitment
at any date of determination shall be reduced by an amount equal to the
aggregate outstanding principal amount of the Term Loans. The Term Loans
may be (i) Libor Rate Loans, (ii) Alternate Base Rate Loans or (iii) a
combination thereof.

          (f) The first sentence of Section 2.04 of the Credit Agreement is hereby amended and restated
in its entirety to provide as follows:

“Each Term Loan to the Company shall be evidenced by a promissory note of
the Company substantially in the form attached hereto as Exhibit B,
(each as may be amended, restated, supplemented or modified, from time to
time, individually a “Term Loan Note” and, collectively, the
“Term Loan Notes”), each appropriately

5

 

completed, duly executed and delivered on behalf of the Company and payable
to the order of the Bank in a principal amount equal to the amount of such
Term Loan advanced on the applicable Borrowing Date.”

          (g) Section 3.04(b) of the Credit Agreement is hereby amended and restated in its entirety to
provide as follows:

“The Company shall pay to the Bank a commission with respect to each Standby
Letter of Credit issued by the Bank equal to (i) the then applicable SBLC
Rate multiplied by (ii) the average daily amount of the Standby LC Exposure
during the period from and including the 2010 Amendment Effective Date
through the Revolving Credit Commitment Termination Date. Such commissions
with respect to Standby Letters of Credit shall be payable in arrears on the
last Business Day of March, June, September and December of each year,
commencing June 30, 2010. In addition, the Company shall pay to the Bank,
with respect to each Commercial Letter of Credit 0.25% of the stated amount
of such Commercial Letter of Credit upon its issuance and 0.25% of the
amount drawn under such Letter of Credit or, in the event of termination or
expiration, available to be drawn under such Commercial Letter of Credit.
The Company shall further pay to the Bank, on demand, all customary fees
charged by the Bank with respect to the issuance, processing and
administration of Letters of Credit (including, without limitation,
amendments, renewals or extensions of letters of credit), all subject to
such standard minimums now or hereinafter in effect. All such fees shall be
payable on the date on which the Revolving Credit Commitment terminates and
any such fees accruing after the date on which the Revolving Credit
Commitment terminates shall be payable on demand. All commissions with
respect to Standby Letters of Credit shall be computed on the basis of a
year of three hundred sixty (360) days and shall be payable for the
actual number of days elapsed.”

          (h) Section 6.03(a) of the Credit Agreement is hereby amended to add the text “(or such
earlier date as may be required by the SEC, from time to time)” immediately after the text “(75)
days” on the second line thereof.

          (i) Section 6.03(b) of the Credit Agreement is hereby amended to add the text “(or such
earlier date as may be required by the SEC, from time to time)” immediately after the text “(60)
days” on the second line thereof.

          (j) Section 6.10 of the Credit Agreement is hereby amended by (i) deleting the proviso at the
end of the last sentence thereof and (ii) adding the following sentence at the end thereof:

“Notwithstanding anything to the contrary herein, if the Company shall
provide evidence satisfactory to the Bank and its counsel that the pledge by
the Company or any Guarantor of its ownership interest in any First-Tier
Subsidiary of such Person which is or is to become a Non-Domestic Subsidiary
would result in materially adverse tax consequences to the Company and the
Guarantors (each, such Non-Domestic Subsidiary, a “Non-Guarantor
Subsidiary”), the Company and such Guarantor shall not be required to
execute and deliver a Pledge Agreement to Bank, nor comply with the terms of
this Section 6.10, respecting such Non-Guarantor Subsidiary.”

          (k) Section 7.06 of the Credit Agreement is hereby amended and restated in its entirety to
provide as follows:

6

 

“Make or commit to make any advance, loan, extension of credit, or capital
contribution to or purchase or hold beneficially any stock or other
securities, or evidence of Indebtedness of, purchase or acquire all or a
substantial part of the assets of, make or permit to exist any interest
whatsoever in, any other Person, provided (i) the Company or any Guarantor
may invest in Permitted Investments, (ii) the Company may make investments,
loans and advances to the Guarantors, (iii) a Guarantor may make
investments, loans and advances to the Company or another Guarantor, (iv)
the Company or any Guarantor may make investments, loan and advances to any
Non-Domestic Subsidiary of the Company, other than a Non-Conforming
Subsidiary, provided that the aggregate amount of such investment, loans and
advances do not exceed $3,000,000 during the term of this Agreement, which
amount shall include a sublimit of $1,000,000, in the aggregate, which may
be used by the Company or any Guarantor to may make investments, loans and
advances to Non-Conforming Subsidiaries and to consummate Foreign Permitted
Acquisitions involving Non-Conforming Subsidiaries and (v) subject to clause
(iv) above, the Company or any Guarantor may consummate Permitted
Acquisitions in accordance with the terms of this Agreement, provided that
the aggregate amount financed hereunder shall not exceed $40,000,000, in the
aggregate, outstanding at any time, and that the purchase price (excluding
consideration consisting of the Company’s common stock) for all Foreign
Permitted Acquisitions financed hereunder shall not exceed $25,000,000, in
aggregate, outstanding at any time. For purposes of determining compliance
with clause (iv) above, (a) amounts owing from the Company to any
Non-Guarantor Subsidiary and from any Non-Guarantor Subsidiary to the
Company or any other Subsidiary of the Company in respect of accounts
receivable and accounts payable shall not be deemed a loan or other
investment provided, that, such amounts owing in respect of such receivables
and payables were incurred in the normal course of business of the Company,
such Non-Guarantor Subsidiary and such other Subsidiary of the Company, as
applicable, with terms not less favorable than the Company, such
Non-Guarantor Subsidiary or other Subsidiary would obtain in a comparable
arms-length transaction with a Person not an Affiliate, and (b) investments
in any Non-Guarantor Subsidiary arising solely from the earning of such
Non-Guarantor Subsidiary shall not be counted as investments for purposes of
such subsection (iv).”

          (l) Section 7.13(c) of the Credit Agreement is hereby amended and restated in its entirety to
provide as follows:

“Commencing with the fiscal quarter ended March 31, 2010, permit the
Consolidated Capital Base of the Financial Parties to be less than an amount
equal to (i) $75,000,000 plus (ii) 75% of the Consolidated Net
Income of the Financial Parties plus (iii) 75% of the net proceeds
received from any Subordinated Debt or any Equity Issuance of any Financial
Party, each of (ii) and (iii) calculated with respect to the period
commencing January 1, 2010 and ending on the date of calculation.”

          (m) Exhibit A to the Credit Agreement is hereby amended and replaced with Exhibit A attached
hereto.

     2. Conditions of Effectiveness. This Amendment shall become effective as of the date
hereof, upon receipt by the Bank of the following, each in form and substance satisfactory to the
Bank: (i) this Amendment, duly executed by the Company and each Guarantor, (ii) the amended and
restated

7

 

Revolving Credit Note, substantially in the form attached hereto as Exhibit A, duly executed
by the Company, (iii) the fee letter between the Bank and the Company and the payment of the fee
specified therein and (iv) such other documents and agreements required by the Bank.

     3. Representations and Warranties; Effect on Credit Agreement.

          (a) The Company hereby represents and warrants as follows:

     (i) This Amendment and the Credit Agreement, as amended hereby, constitute
legal, valid and binding obligations of the Company and are enforceable against the
Company in accordance with their respective terms.

     (ii) Upon the effectiveness of this Amendment, the Company hereby reaffirms all
covenants, representations and warranties made in the Credit Agreement and the
Company agrees that all such covenants, representations and warranties shall be
deemed to have been remade as of the date hereof.

     (iii) No Default or Event of Default has occurred and is continuing or would
exist after giving effect to this Amendment.

     (iv) The Company has no defense, counterclaim or offset with respect to the
Credit Agreement and the Obligations.

     (v) The certificate of incorporation and bylaws of the Company, each previously
delivered to the Bank on the Closing Date, have not been amended, modified, revoked
or rescinded as of the date hereof;

     (vi) The Company is duly formed, validly existing and in good standing in the
jurisdiction of its formation and has filed all statements and/or documents required
by any governmental authority.

     (vii) The execution, delivery and performance by the Company and the Guarantors
of this Amendment has been duly authorized by all requisite corporate and limited
liability company action, as applicable.

          (b) Effect on Credit Agreement and Loan Documents.

     (i) Upon the effectiveness of this Amendment, each reference in the Credit
Agreement to “this Agreement”, “hereunder”, “hereof”, “herein” or words of like
import shall mean and be a reference to the Credit Agreement as amended hereby.

     (ii) Except as specifically amended herein, the Credit Agreement, and all other
documents, instruments and agreements executed and/or delivered in connection
therewith, shall remain in full force and effect, and are hereby ratified and
confirmed.

     (iii) The amendments herein contained are limited specifically to the matters
set forth above and do not constitute directly or by implication a waiver or an
amendment of any other provision of the Credit Agreement or any Default or Event of
Default which may occur or may have occurred.

     (iv) The other Loan Documents and all agreements, instruments and documents
executed and delivered in connection with the Credit Agreement and any

8

 

other Loan Documents shall each be deemed to be amended and supplemented hereby
to the extent necessary, if any, to give effect to the provisions of this Amendment.

     4. Miscellaneous.

          (a) This Amendment shall be governed by and construed in accordance with the laws of the State
of New York.

          (b) All terms used herein shall have the same meaning as in the Credit Agreement, as amended
hereby, unless specifically defined herein.

          (c) Section headings in this Amendment are included herein for convenience of reference only
and shall not constitute a part of this Amendment for any other purpose.

          (d) This Amendment may be executed in one or more counterparts, each of which shall constitute
an original, and all of which, taken together, shall be deemed to constitute one and the same
agreement.

          (e) This Amendment shall be deemed a Loan Document

     5. Reaffirmation.

          The Company hereby: (a) acknowledges and confirms that, notwithstanding the consummation of
the transactions contemplated by this Amendment, (i) all terms and provisions contained in the
Security Documents are, and shall remain, in full force and effect in accordance with their
respective terms and (ii) the liens heretofore granted, pledged and/or assigned to the Bank as
security for the Company’s Obligations shall not be impaired, limited or affected in any manner
whatsoever by reason of this Amendment; (b) reaffirms and ratifies all the representations and
covenants contained in each Security Document; and (c) represents, warrants and confirms the
non-existence of any offsets, defenses, or counterclaims to its obligations under any Security
Document.

     [next page is signature page]

9

 

     IN WITNESS WHEREOF, the Company and the Bank have caused this Amendment to be duly executed by
their duly authorized officers, all as of the day and year first above written.

	 	 	 	 	 
	 	GLOBECOMM SYSTEMS INC.

 	 
	 	By:  	/s/ Andrew C. Melfi	 
	 	 	Name:  	Andrew C. Melfi 	 
	 	 	Title:  	Chief Financial Officer 	 
	 
	 
	 	CITIBANK, N.A.

 	 
	 	By:  	/s/ Stuart N. Berman	 
	 	 	Name:  	Stuart N. Berman 	 
	 	 	Title:  	Vice President 	 

10

 

	 	 	 	 	 

Each of the undersigned, not as a party to the Credit Agreement but as a Guarantor under the
Guaranty of All Liability and as a Debtor under the Amended and Restated General Security
Agreement, each dated the Closing Date, hereby (a) accepts and agrees to the terms of the
foregoing, (b) acknowledges and confirms that all terms and provisions contained in the Loan
Documents to which it is a party are, and shall remain, in full force and effect in accordance with
their respective terms, (c) confirms and agrees that the liens, if any, heretofore granted, pledged
and/or assigned to the Bank as security for the Obligations (as defined n the Security Agreement)
shall not be impaired, limited or affected in any manner whatsoever by reason of this Amendment,
(d) reaffirms and ratifies all the representations and covenants contained in each Loan Document to
which it is a party; and (e) represents, warrants and confirms the non-existence of any offsets,
defenses, or counterclaims to its obligations under any of the Loan Documents to which it is a
party

	 	 	 	 	 
	 	GLOBECOMM NETWORK SERVICES
CORPORATION

 	 
	 	By:  	/s/ Andrew C. Melfi
	 
	 	 	Andrew C. Melfi, Chief Financial Officer 	 
	 	 	 	 
	 
	 	GSI PROPERTIES CORP.

 	 
	 	 	By:  	/s/ Andrew C. Melfi
	 
	 	 	 	Andrew C. Melfi, Chief Financial Officer 
	 	 	 	 
	 
	 	GLOBECOMM SERVICES MARYLAND LLC

TURBO LOGIC ASSOCIATES, LLC

CACHENDO, LLC

TELAURUS COMMUNICATIONS LLC

GLOBECOMM INTERNATIONAL LLC

 	 
	 	By:  	Each by Globecomm Systems Inc., its sole
 	 
	 	 	member 	 
	 	 	 	 
	 	 	 
	 	 	By:  	/s/
Andrew C. Melfi
 	 
	 	 	 	Andrew C. Melfi, Chief
Financial Officer
	 	 	 	 

11

 

	 	 	 	 	 

EXHIBIT A

FORM OF

AMENDED AND RESTATED REVOLVING CREDIT NOTE

			
	$10,000,000
	 	Suffolk County, New York

May 28, 2010

     FOR VALUE RECEIVED, GLOBECOMM SYSTEMS INC., a Delaware corporation (the “Company”) promises to
pay to the order of CITIBANK, N.A. (the “Bank”), on or before the Revolving Credit Commitment
Termination Date, the principal amount of TEN MILLION and 00/100 DOLLARS ($10,000,000.00) or, if
less, the unpaid principal amount of all Revolving Credit Loans made by the Bank to the Company
under the Credit Agreement referred to below.

     The Company promises to pay interest on the unpaid principal amount outstanding, from time to
time, from the date hereof until paid in full at the rates and at the times which shall be
determined, and to make principal repayments on this Note at the times which shall be determined,
in accordance with the provisions of the Credit Agreement referred to below.

     This Note is the “Revolving Credit Note” issued pursuant to and entitled to the benefits of
the Credit Agreement dated as of March 11, 2009 by and between the Company and the Bank (as the
same may be amended, modified or supplemented from time to time, the “Credit Agreement”), to which
reference is hereby made for a more complete statement of the terms and conditions under which the
Revolving Loans evidenced hereby was made and is to be repaid. Capitalized terms used herein
without definition shall have the meanings set forth in the Credit Agreement.

     Each of the Bank and any subsequent holder shall record the date, Type and amount of each
Revolving Credit Loan and the date and amount of each payment or prepayment of principal of each
Revolving Credit Loan on the grid schedule annexed to this Note; provided, however,
that the failure of the Bank or any holder to set forth such Revolving Credit Loans, payments and
other information on the attached grid schedule shall not in any manner affect the obligation of
the Company to repay the Revolving Credit Loans made by the Bank in accordance with the terms of
this Note or credit the Company for payments made.

     This Note is subject to mandatory and optional prepayment as provided in Section 3.03 of the
Credit Agreement.

     Upon the occurrence and continuance of an Event of Default, the unpaid balance of the
principal amount of this Note, together with all accrued but unpaid interest thereon, may become,
or may be declared to be, due and payable in the manner, upon the conditions and with the effect
provided in the Credit Agreement.

     All payments of principal and interest in respect of this Note shall be made in lawful money
of the United States of America in immediately available funds at the office of the Bank, located
at 730 Veterans Memorial Highway, Hauppauge, New York 11788 or at such other place as shall be
designated in writing for such purpose in accordance with the terms of the Credit Agreement.

     No reference herein to the Credit Agreement and no provision of this Note or the Credit
Agreement shall alter or impair the obligation of the Company, which is absolute and unconditional,
to pay the principal of and interest on this Note at the place, at the respective times, according
to the terms described herein and in the Credit Agreement, and in the currency herein prescribed.

12

 

     The Company waives presentment, protest, demand, and notice of any kind in connection with
this Note.

     This Note is an amendment and restatement of, and is being issued in replacement of, and
substitution for, the Revolving Credit Note dated March 11, 2009 in the original principal amount
of $7,500,000 issued by the Company in favor of the Bank (the “Original Note”). The execution and
delivery of this Note shall not be construed to have constituted a repayment of any principal of,
or interest on, the Original Note.

     THIS NOTE SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE
LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAW.

     IN WITNESS WHEREOF, the Company has caused this Note to be executed and delivered by its duly
authorized officer as of the day and year and at the place first above written.

	 	 	 	 	 
	 	GLOBECOMM SYSTEMS INC.

 	 
	 	By  	/s/ Andrew C. Melfi
	 
	 	 	Name:  	Andrew C. Melfi 	 
	 	 	Title:  	Chief Financial Officer 	 

13

 

	 	 	 	 	 

SCHEDULE OF LOANS

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	Amount of	 
	Date	 	 	Type	 	 	 	 	 	 	Principal	 	 	 	 	 	 	Principal	 
	of	 	 	of	 	 	Interest	 	 	Amount of	 	 	Maturity	 	 	Paid or	 
	Loan	 	 	Loan	 	 	Rate	 	 	Loan	 	 	of Loan	 	 	Unpaid	 

14

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00174-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00174-of-00352.parquet"}]]