Document:

Unassociated Document

    AMENDMENT
      TO INVESTORS’ RIGHTS AGREEMENT

    STANDSTILL
      AND EXTENSION AGREEMENT

     

    This
      Amendment to Investors’ Rights Agreement Standstill and Extension Agreement
      (“Agreement”) is made as of September
      11, 2008 (the “Effective Date”), by and between Rubio’s Restaurants, Inc., a
      Delaware corporation, (“Rubio’s” or the “Company”), and The Ralph Rubio and
      Dione Rubio Family Trust (the “Investor”).

     

    RECITALS
      

     

    A.  Rubio’s
      and the Investor are parties to that certain Amended and Restated Investors’
Rights Agreement, dated as of November 19, 1997, as amended on December 31,
      1997
      and in May 1998 (the “Rights Agreement”), wherein Rubio’s granted to the
      Investor certain registration rights.

     

    B.  On
      May 7,
      2007, Rubio's and the Investor entered into an Investors' Rights Agreement
      Standstill and Extension Agreement which provided, among other things, for
      an
      extension of the expiration date applicable to the Investor's registration
      rights and modified the registration rights originally granted under the Rights
      Agreement (the "Original Extension Agreement").

     

    C.  The
      Original Extension Agreement superseded the Investors’ Rights Agreement
      Standstill and Extension Agreement, dated April 29, 2004, and the Investors’
Rights Agreement Standstill and Extension Agreement, dated July 28,
      2005.

     

    D.  Given
      the
      current state of market conditions, the trading range of Rubio’s common stock
      and the current operating performance of the Company, the Investor desires
      to
      obtain a further extension of, and modification of its registration
      rights.

     

    E.  The
      Company is willing to grant to the Investor a further extension of its
      registration rights through December 31, 2010 in exchange for the Investor
      agreeing not to exercise any demand registration rights on or before December
      31, 2008.

     

    AGREEMENT

     

    NOW,
      THEREFORE, the parties hereto agree as follows:

     

    1.  Extension
      of Registration Rights.
      Beginning on the Effective Date and extending through December 31, 2010, Rubio’s
      hereby grants to the Investor the same rights, if any, held by the Investor
      as
      of the Effective Date under Section 1.2, 1.3, 1.4, 1.6, 1.7, 1.8, 1.9, 1.10,
      1.11, 1.12 and 1.14 of the Rights Agreement, as amended by the Original
      Extension Agreement, provided, that in the event that the Company exercises
      its
      right to defer the filing of a Form S-3 registration statement pursuant to
      Section 1.12(b)(3) or to suspend the use of a Form S-3 registration statement
      pursuant to Section 1.12(d) of the Rights Agreement, the Investor’s rights shall
      be extended from December 31, 2010 by the number of days of any deferral and
      any
      suspension. Such rights shall be governed by the relevant terms and conditions
      as set forth in the Rights Agreement, which terms are hereby incorporated by
      reference, provided that the Investor shall be considered the “Holder” as that
      term is used in the Rights Agreement.

     

    2.  Standstill.
      Beginning on the Effective Date and extending through December 31, 2008, the
      Investor will not exercise any demand registration rights, as described in
      Sections 1.2 or 1.12 of the Rights Agreement, as amended by the Original
      Extension Agreement, that it is entitled to exercise.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    3.  Miscellaneous.

     

    (a)  Waivers
      and Amendments.
      Neither
      this Agreement nor any provision hereof may be changed, waived, discharged,
      terminated, modified or amended except upon the written consent of the
      Company and the Investor.

     

    (b)  Headings.
      The
      headings of the various sections of this Agreement have been inserted for
      convenience of reference only and shall not be deemed to be part of this
      Agreement.

     

    (c)  Severability.
      In case
      any provision contained in this Agreement should be invalid, illegal or
      unenforceable in any respect, the validity, legality and enforceability of
      the
      remaining provisions contained herein shall not in any way be affected or
      impaired thereby.

     

    (d)  Notices.
      All
      notices, requests, consents and other communications hereunder shall be in
      writing, shall be sent by confirmed facsimile or mailed by first-class
      registered or certified airmail, or nationally recognized overnight express
      courier, postage prepaid, and shall be deemed given when so sent in the case
      of
      facsimile transmission, or when so received in the case of mail or courier,
      and
      addressed as set forth on the signature page of this Agreement.

     

    (e)  Governing
      Law.
      This
      Agreement shall be governed by and construed in accordance with the laws of
      the
      State of California as applied to contracts entered into and performed entirely
      in California by California residents, without regard to conflicts of law
      principles.

     

    (f)  Counterparts.
      This
      Agreement may be executed in two or more counterparts, each of which shall
      constitute an original, but all of which, when taken together, shall constitute
      but one instrument, and shall become effective when one or more counterparts
      have been signed by each party hereto and delivered to the other
      parties.

     

    (g)  Successors
      and Assigns.
      Except
      as otherwise expressly provided herein, the provisions hereof shall inure to
      the
      benefit of, and be binding upon, the successors, assigns, heirs, executors
      and
      administrators of the parties hereto.

     

    (h)  Entire
      Agreement.
      This
      Agreement, the Rights Agreement and the Original Extension Agreement, constitute
      the full and entire understanding and agreement between the parties with regard
      to the subject matter hereof.

     

    (i)  Effect
      of Amendment.
      Except
      as expressly modified by this Agreement, the Original Extension Agreement shall
      remain unmodified and in full force and effect.

     

    (j)  No
      Third Party Beneficiaries.
      This
      Agreement and all conditions and provisions hereof are and are intended to
      be
      for the sole and exclusive benefit of Rubio’s and the Investor and for the
      benefit of no other party to the Rights Agreement (or any successors or
      assigns). 

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    IN
      WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed
      by
      their duly authorized representatives on the day and year first above
      written.

     

    
      	
              Company:

            	
              RUBIO’S
                RESTAURANTS, INC.

              a
                Delaware corporation

               

              By:     
                /s/ Daniel E. Pittard            

              Daniel
                E. Pittard

              President
                and Chief Executive Officer

               

              Address:

              1902
                Wright Place, Suite 300

              San
                Diego, CA 92008

              Fax
                No.: (760) 602-5113

            
	 	 
	
              Investor:

            	
              THE
                RALPH RUBIO AND DIONE

              RUBIO
                FAMILY TRUST

               

              /s/
                Ralph Rubio                

              Ralph
                Rubio, Trustee

               

              Address:

              1115
                Los Calallitos

              Del
                Mar, CA 92014

              Fax
                No.: (760) 602-5113Unassociated Document

     

    

     

    

      September
        15, 2008

    

    

      ArthroCare
        Corporation

      7500
        Rialto Boulevard

      Building
        Two, Suite 100

      Austin,
        Texas 78735

      Attention: Michael
        Gluk

      Senior
        Vice President, Chief Financial Officer

      

        Re:      Credit
          Agreement dated as of January 13, 2006 (as amended by that certain First
          Amendment
          dated as of December 18, 2007 and as further amended, restated, supplemented
          or otherwise modified prior to the date hereof, the "Credit
          Agreement") by
          and
          among ArthroCare Corporation, a Delaware corporation, as Borrower (the
          "Borrower'),
          the
          banks and other financial institutions party thereto from
          time
          to time, as Lenders (the "Lenders") and
          Bank
          of America, N.A.,
          as
          Administrative
          Agent, Swing Line Lender and L/C issuer (the "Administrative
          Agent").
          Each
          capitalized term used herein but not defined herein shall be defined
in
          accordance with the Credit Agreement.

         

        
          Dear
            Mr.
            Gluk:

          

          The
            Borrower previously advised the Administrative Agent and the Lenders
            that it
            would be restating
            its financial statements for fiscal years 2006, 2007 and the first quarter
            of
            2008 as more fully
            described in the Borrower's 8-K filing of July 21, 2008 (such financial
            restatements, collectively,
            the "Restatement"). In
            a
            letter dated July 29, 2008, the Administrative Agent, on behalf
            of
            and at the direction of Lenders constituting Required Lenders, consented
            to an
extension
            of the deadline for delivery of the June 30, 2008 financial statements
            to
            September 15, 2008.
            You
            have
            recently advised us that further additional time is requested/needed
            by the
Borrower
            to complete the Restatement and provide the financial statements required
            by the
Credit
            Agreement for the quarter ended June 30, 2008, as well as the quarter
            ended
            September 30,
            2008.
            Accordingly, the Borrower has requested that the delivery deadline for
            the June
            30, 2008
            financial statements be extended from September 15, 2008 to December
            1, 2008 and
            that the deadline for the September 30, 2008 financial statements be
            extended to
            December 1, 2008 (the
            foregoing extensions, collectively, the "Second
            Extension
            Period").
            Such
            Second Extension Period
            would be used by the Borrower to complete the Restatement. It is hereby
            agreed
            and acknowledged
            that this letter agreement shall constitute a Loan Document for all purposes
            under the Credit Agreement.

          

          As
            a
            condition precedent to granting this second extension, the Borrower hereby
            (a)
            confirms that,
            after giving effect to the extension for delivery of financial information
            set
            forth herein, no Default
            or Event of Default has occurred and is continuing, (b) represents and
            warrants
            that all statements
            made by or on behalf of the Borrower related to the Restatement in all
            annual,
regular,
            periodic and special reports that the Borrower has filed with the SEC
            on or
            prior to the date
            of
            this letter agreement are true, correct and complete in all material
            respects
            and (c) hereby confirms and agrees that, from the date of this letter
            agreement
            through and including the last day
            of
            the Second Extension Period, (i) it has, and will
            have, sufficient liquidity (exclusive of any further requests for
            Credit Extensions) to meet all of its anticipated expenditures and (ii)
            it
will
            not
            request any Credit Extension during such Second Extension Period (other
            than a
continuation
            or conversion of an existing
            Eurocurrency Rate Loan or the extension/renewal of an existing
            Letter of Credit).

           

          
            
              
              

            

            
              
              

              
                

              

            

            
              
              

            

          

           

          Subject
            to the terms and conditions hereof, the Administrative Agent, on behalf
            of and
            at the direction
            of Lenders constituting Required Lenders, hereby consents to (a) a further
            extension of the
            deadline for delivery of the June 30, 2008 financial statements to December
            1,
            2008 and (b) an
            extension for delivery of the financial statements for the quarter ending
            September 30, 2008 until
            December 1, 2008.

           

          Except
            as
            expressly set forth in the preceding paragraph, the Credit Agreement
            and each
            other Loan
            Document shall remain in full force and effect, and this letter shall
            not waive,
            affect, or diminish
            any right of the Administrative Agent and the Lenders to demand strict
            compliance and performance
            with
            the
            Credit Agreement and the other Loan Documents. In furtherance thereof,
            the
            Administrative Agent and the Lenders hereby reserve all rights and remedies,
            and
            shall be entitled, to pursue at any time and from time to time, without
            notice,
            demand or any other action, any and all rights and remedies provided
            under the
            Credit Agreement and/or the other Loan Documents,
            at law, in equity or otherwise, whether or not with respect to any existing
            Events of Default,
            all in the sole and absolute discretion of the Administrative Agent and
            the
            Lenders. Except
            as
            expressly set forth in the preceding paragraph, neither this letter nor
            any
            other communication
            between the Administrative Agent and/or the Lenders, on the one hand,
            and the
Borrower,
            on the other hand, shall be construed as a consent, waiver, forbearance
            or other
modification
            with respect to any term, condition or other provision of the Agreement
            and/or
            any other
            Loan Document. Neither this letter, any other communication between the
            Administrative Agent
            and/or the Lenders, on the one hand, and the Borrower, on the other hand,
            nor
            any act or omission
            on the part of the Administrative Agent and/or the Lenders constitutes,
            or shall
            be deemed to constitute, a course of conduct or a course of dealing so
            as to
            justify an expectation by the
            Borrower that the Administrative Agent and the Lenders will not exercise
            any
            rights or remedies
            available to them with respect to any existing Event of Default or any
            subsequent Event of
            Default or an expectation by the Borrower that the Administrative Agent
            and the
            Lenders will waive
            any
            existing Event of Default or any subsequent Event of Default.

          

          This
            letter agreement shall be governed by, and construed in accordance with,
            the
            laws of the State of New York.

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