Document:

.

Exhibit 10.2

HPSC, INC.

 

AMENDMENT NO. 1 TO THE HPSC, INC. 1986 STOCK OPTION PLAN

 

 

 

WHEREAS, HPSC, Inc. (the “Company”) maintains the HPSC, Inc.

1986 Stock Option Plan (the “Plan”) for the benefit of certain eligible

employees and directors;

 

WHEREAS, the Company desires to amend the Plan to extend the

post-termination exercise expiration for Director options.

 

NOW THEREFORE, the Plan is hereby amended as follows

 

                1.  Paragraph 6(a) is deleted and the following

paragraph 6(a) is substituted therefor:

 

Each Director Option

shall terminate and may no longer be exercised upon the earliest of (1) ten

years after the date of grant, and (2) immediately upon termination of the

Participant’s Service for cause.  The

Board’s good faith determination of whether the termination of a Director

Participant’s Service was for cause shall be binding for purposes of the Plan.

 

 

IN WITNESS WHEREOF, the Company has caused this Amendment to be executed

by its duly authorized officer this 24th day of October, 2001.

 

 

	

  HPSC,

  INC.

  	

   

  
	

   

  	

   

  
	

  By:

  	

  /s/ John W. Everets

  
	

   

  	

  John W. Everets

  
	

   

  	

  Chairman of the Board and

  
	

   

  	

  Chief Executive Officer.

Exhibit

10.11

HPSC, INC.

 

AMENDMENT NO. 1 TO THE AMENDED AND RESTATED 1998 STOCK

INCENTIVE PLAN

 

 

 

WHEREAS, HPSC, Inc. (the “Company”) maintains the HPSC, Inc.

Amended and Restated 1998 Stock Incentive Plan (the “Plan”) for the benefit of

certain eligible employees and directors;

 

WHEREAS, the Company desires to amend the Plan to extend the

post-termination exercise expiration for Director options.

 

NOW THEREFORE, the Plan is hereby amended as follows

 

1.                                                Paragraph 5 (b)(iii) is hereby deleted

and the following section 5(b)(iii) is substituted therefor:

 

                Each

Director Option shall terminate and may no longer be exercised upon the

earliest of (1) ten years after the date of grant, and (2) immediately upon

termination of the Participant’s Service for cause.  The Board’s good faith determination of whether the termination

of a Director Participant’s Service was for cause shall be binding for purposes

of the Plan.

 

IN WITNESS WHEREOF, the Company has caused this Amendment to

be executed by its duly authorized officer this 24th day of October,

2001.

 

 

HPSC,

INC.

 

	

  By:

  	

  /s/ John W. Everets

  
	

   

  	

  John W. Everets

  
	

   

  	

  Chairman of the Board and

  
	

   

  	

  Chief Executive Officer.

 

 

Exhibit 10.13

HPSC, INC.

 

AMENDMENT NO. 1 TO THE HPSC, INC. 2000 STOCK INCENTIVE PLAN

 

 

 

WHEREAS, HPSC, Inc. (the “Company”) maintains the HPSC, Inc.

2000 Stock Incentive Plan (the “Plan”) for the benefit of certain eligible

employees and directors;

 

WHEREAS, the Company desires to amend the Plan to extend the

post-termination exercise expiration for Director options.

 

NOW THEREFORE, the Plan is hereby amended as follows

 

1.                                       Paragraph 5 (b)(iii) is hereby deleted

and the following section 5(b)(iii) is substituted therefor:

 

                Each

Director Option shall terminate and may no longer be exercised upon the

earliest of (1) ten years after the date of grant, and (2) immediately upon

termination of the Participant’s Service for cause.  The Board’s good faith determination of whether the termination

of a Director Participant’s Service was for cause shall be binding for purposes

of the Plan.

 

 

IN WITNESS WHEREOF, the Company has caused this Amendment to be executed

by its duly authorized officer this 24th day of October, 2001.

 

 

HPSC,

INC.

 

	

  By:

  	

   

  	

  /s/ John W. Everets

  
	

   

  	

   

  	

  John W. Everets

  
	

   

  	

   

  	

  Chairman of the

  Board and

  Chief Executive

  Officer.

Exhibit

10.32

 

SECOND

AMENDMENT

TO

FOURTH

AMENDED AND RESTATED CREDIT AGREEMENT

 

                Second Amendment dated as of December 31, 2000 to the

Fourth Amended and Restated Credit Agreement (the “Amendment”), by and among HPSC, INC.,

a Delaware corporation (the “Borrower”), AMERICAN COMMERCIAL FINANCE COMPANY, a

Delaware corporation (the “Guarantor” or “ACFC”), FLEET NATIONAL BANK and the

other lending institutions listed on Schedule 1 to the Credit Agreement

(as hereinafter defined) (the “Banks”), and Fleet National Bank as agent for

the Banks (in such capacity, the “Agent”), amending certain provisions of the

Fourth Amended and Restated Credit Agreement dated as of May 12, 2000 (as

amended and in effect from time to time, the “Credit Agreement”) by and among

the Borrower, the Guarantor, the Banks and the Agent.  Terms not otherwise defined herein which are defined in the

Credit Agreement shall have the same respective meanings herein as therein.

 

                WHEREAS, the Borrower and the Banks have

agreed to modify certain terms and conditions of the Credit Agreement as

specifically set forth in this Amendment;

 

                NOW, THEREFORE, in consideration of the

premises and the mutual agreements contained herein and for other good and

valuable consideration, the receipt and sufficiency of which are hereby

acknowledged, the parties hereto hereby agree as follows:

 

                §1.          Amendment

to  Section 1  of  the Credit Agreement.

 

                (a)  Section

1.1 of the Credit Agreement is hereby amended by adding the following new

definition in the appropriate alphabetical order:

 

                Newco Transaction Costs means:

 

                (a)           swap breakage costs not exceeding $4,000,000 which

resulted from unwinding the swaps in place immediately prior to the closing

under the Newco Facility Documents;

 

                (b)           capitalized debt origination costs not exceeding

$3,200,000 consisting of investment banking fees, legal costs and rating agency

fees associated with the transaction contemplated by the Newco Facility

Documents; and

 

                (c)           re-acquisition and re-sale costs not exceeding $3,100,000

which are non-cash expenses for financial statement purposes that reflect the

re–acquisition of assets previously recognized for FAS 125 purposes and

re-selling such assets into the transaction contemplated by the Newco Facility

Documents.

 

                §2.          Amendment

to Section 11 of the Credit Agreement.  Section 11 of the Credit Agreement is hereby amended by

adding the following provision to the end thereof:

 

 

 

For purposes of

determining compliance with Sections 11.1, 11.2 and 11.3

for the fiscal quarters ending December 31, 2000 and March 31, 2001, the Newco

Transaction Costs shall be excluded from such calculation.  With respect to each such quarter, each

compliance certificate delivered pursuant to Section 9.4(c) shall show

the amounts and categories of adjustments necessary to exclude such Newco

Transaction Costs from the relevant financial statements of the Borrower and

its Subsidiaries in a manner satisfactory to the Agent.

 

                §3.          Conditions

to Effectiveness.  This

Amendment shall not become effective until the Agent receives (a) a counterpart

of this Amendment, executed by the Borrower, the Guarantor and the Majority

Banks, (b) a $2,500 work fee for the account of each Bank which has executed

this Amendment and (c) such other documents as the Agent may request.

 

                §4.          Representations

and Warranties.  The

Borrower hereby repeats, on and as of the date hereof, each of the

representations and warranties made by it in Section 8 of the Credit

Agreement, and such representations and warranties remain true as of the date

hereof (except to the extent of changes resulting from transactions

contemplated or permitted by the Credit Agreement and the other Loan Documents,

and to the extent that such representations and warranties relate expressly to

an earlier date), provided, that all references therein to the Credit

Agreement shall refer to such Credit Agreement as amended hereby.  In addition, the Borrower hereby represents

and warrants that the execution and delivery by the Borrower of this Amendment

and the performance by the Borrower of all of its agreements and obligations

under the Credit Agreement as amended hereby are within the corporate authority

of the Borrower and has been duly authorized by all necessary corporate action

on the part of the Borrower.

 

                §5.          Ratification

Etc.  Except as

expressly amended hereby, the Credit Agreement, the Security Documents and all

documents, instruments and agreements related thereto are hereby ratified and

confirmed in all respects and shall continue in full force and effect.  The Credit Agreement and this Amendment

shall be read and construed as a single agreement.  All references in the Credit Agreement or any related agreement

or instrument to the Credit Agreement shall hereafter refer to the Credit

Agreement as amended hereby.

 

                §6.          No

Waiver.  Nothing

contained herein shall constitute a waiver of, impair or otherwise affect any

Obligations, any other obligation of the Borrower or any rights of the Agent or

the Banks.

 

                §7.          Counterparts.  This Amendment may be executed in one or

more counterparts, each of which shall be deemed an original but which together

shall constitute one and the same instrument.

 

                §8.          Governing

Law.  THIS

AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF

THE COMMONWEALTH OF MASSACHUSETTS (WITHOUT REFERENCE TO CONFLICT OF LAWS).

 

2

IN WITNESS WHEREOF, the undersigned have duly executed this Amendment as

a sealed instrument as of the date first set forth above.

 

	

   

  	

   

  	

  HPSC, INC.

  
	

   

  	

   

  	

   

  
	

   

  	

   

  	

  By:

  	

  /s/ Rene Lefebvre

  
	

   

  	

   

  	

  Name:

  	

  Rene

  Lefebvre

  
	

   

  	

   

  	

  Title:

  	

  V.P.,

  CFO

  
	

   

  	

   

  	

   

  
	

   

  	

   

  	

  FLEET NATIONAL BANK,

  individually and as Agent

  
	

   

  	

   

  	

   

  
	

   

  	

   

  	

  By:

  	

  /s/ Katherine S.

  Steiger

  
	

   

  	

   

  	

  Name:

  	

  Katherine

  S. Steiger

  
	

   

  	

   

  	

  Title:

  	

  Vice

  President

  
	

   

  	

   

  	

   

  
	

   

  	

   

  	

  KEYBANK NATIONAL ASSOCIATION

  
	

   

  	

   

  	

   

  
	

   

  	

   

  	

  By:

  	

  /s/ Eric S.

  Christensen

  
	

   

  	

   

  	

  Name:

  	

  Eric

  S. Christensen

  
	

   

  	

   

  	

  Title:

  	

  Vice

  President

  
	

   

  	

   

  	

   

  
	

   

  	

   

  	

  NATIONAL BANK OF CANADA

  
	

   

  	

   

  	

   

  
	

   

  	

   

  	

  By:

  	

  /s/ A. Keith Broyles

  
	

   

  	

   

  	

  Name: 

  	

  A.

  Keith Broyles

  
	

   

  	

   

  	

  Title:

  	

  Vice

  President, Manager

  
	

   

  	

   

  	

   

  
	

   

  	

   

  	

  By:

  	

  /s/ Peter F. Smith

  
	

   

  	

   

  	

  Name:

  	

  Peter

  F. Smith

  
	

   

  	

   

  	

  Title:

  	

  Vice

  President

  
	

   

  	

   

  	

   

  
					

 

3

 

	

   

  	

   

  	

  FIRST MASSACHUSETTS BANK, N.A.

  
	

   

  	

   

  	

  (f/k/a Family Bank, FSB)

  
	

   

  	

   

  	

   

  
	

   

  	

   

  	

  By:

  	

  /s/ Jon R. Sundstrom

  
	

   

  	

   

  	

  Name:

  	

  Jon

  R. Sundstrom

  
	

   

  	

   

  	

  Title:

  	

  Sr.

  Vice President

  
	

   

  	

   

  	

   

  
	

   

  	

   

  	

  CITIZENS BANK OF MASSACHUSETTS

  
	

   

  	

   

  	

   

  
	

   

  	

   

  	

  By:

  	

  /s/ David Farwell

  
	

   

  	

   

  	

  Name:

  	

  David

  Farwell

  
	

   

  	

   

  	

  Title:

  	

  Vice

  President

  
	

   

  	

   

  	

   

  
					

 

4

 

 

Ratification by Guarantor

 

                The undersigned Guarantor hereby acknowledges and

consents to the foregoing Amendment as of December 31, 2000 and agrees that the

Guaranty dated as of June 23, 1994 from the undersigned in favor of the Agent

and each of the Banks, as amended by Omnibus Amendment No. 4 to Security

Documents, dated as of May 12, 2000, and each of the other Security Documents

to which it is a party remain in full force and effect, and the Guarantor

confirms and ratifies all of its obligations thereunder.

 

 

 

	

   

  	

  AMERICAN COMMERCIAL

  
	

   

  	

  FINANCE CORPORATION

  
	

   

  	

   

  
	

   

  	

  By:

  	

  /s/ Rene Lefebvre

  
	

   

  	

  Name:

  	

  Rene

  Lefebvre

  
	

   

  	

  Title:

  	

  Vice President

  
				

 

 

5

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