Document:

Exhibit 10.4 - JPMorgan

Exhibit 10.4

Amendment to Sales Agreement
Dated as of October 2, 2013

J.P. Morgan Securities LLC
383 Madison Avenue
New York, New York  10179

Ladies and Gentlemen:
Reference is hereby made to the Sales Agreement dated July 25, 2011 (the “Sales Agreement”) among Kilroy Realty Corporation, a Maryland corporation (the “Company”), Kilroy Realty L.P., a Delaware limited partnership, and J.P. Morgan Securities LLC (the “Agent”).  Capitalized terms used herein and not defined have the respective meanings set forth in the Sales Agreement.
The Sales Agreement contemplates the offering and sale of Shares pursuant to the Company’s and the Operating Partnership’s registration statement on Form S-3 (File Nos. 333‐172560 and 333-172560-1) (the “Prior Registration Statement”).  The Company and the Operating Partnership have filed with the Commission (i) a new automatic shelf registration statement on Form S-3 (File Nos. 333-191524 and 333-191524-01) relating to, among other things, the Shares (which new registration statement became effective upon the filing thereof with the Commission on the date hereof) and (ii) a new prospectus supplement dated October 2, 2013 (the “New Prospectus Supplement”) relating to the Shares and an accompanying prospectus dated October 2, 2013 (the “New Base Prospectus”).  As used herein, the term “New Registration Statement” means, collectively, the various parts of such new registration statement, each as amended as of the Effective Date for such part, including any Prospectus and all exhibits to such registration statement, including the information deemed by virtue of Rule 430B under the Securities Act to be part of such registration statement as of the Effective Date.
The parties hereto hereby agree that, from and after the date hereof, the term “Registration Statement,” as used in the Sales Agreement, shall include the New Registration Statement; the term “Base Prospectus,” as used in the Sales Agreement, shall include the New Base Prospectus; and the term “Prospectus Supplement,” as used in the Sales Agreement, shall include the New Prospectus Supplement; and further agree that the Sales Agreement, as amended hereby, shall remain in full force and effect.
THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.
[Signature Page Follows] 

If the foregoing is in accordance with your understanding of our agreement, please sign and return to the Company and the Operating Partnership a counterpart hereof, whereupon this agreement, along with all counterparts, will become a binding agreement between the Agent, the Company and the Operating Partnership in accordance with its terms. 

Very truly yours,
	
		
	 KILROY REALTY CORPORATION

	 
	 

	By:
	/s/ Tyler H. Rose

	 
	Tyler H. Rose
Executive Vice President and 
Chief Financial Officer

	 
	 

	By:
	/s/ Heidi R. Roth

	 
	Heidi R. Roth
Senior Vice President and 
Chief Accounting Officer

	
		
	 KILROY REALTY, L.P.

	 
	 

	By:
	Kilroy Realty Corporation, as the General Partner

	 
	 

	By:
	/s/ Tyler H. Rose

	 
	Tyler H. Rose
Executive Vice President and 
Chief Financial Officer

	 
	 

	By:
	/s/ Heidi R. Roth

	 
	Heidi R. Roth
Senior Vice President and 
Chief Accounting Officer

2

	
		
	Accepted:

	J.P. MORGAN SECURITIES LLC

	 
	 

	By:
	/s/ Jim Smith

	 
	Authorized Representative

3Exhibit
10.9(a)

 

 

Amendment No. 1 to the 2012 Acme United Employee
Stock Option Plan (the”Plan”)

 

 

Section 3(a) of the Plan is amended to increase the number of shares
which may be delivered on exercise of options from 170,000 to 340,000.Exhibit
10.10(a)

 FIRST
AMENDMENT AND CONSENT TO

LOAN AND SECURITY AGREEMENT

This
FIRST AMENDMENT AND CONSENT TO LOAN AND SECURITY AGREEMENT (the “Amendment”) is entered into as of April 5,
2013 between ACME UNITED CORPORATION, a Connecticut corporation (the “Borrower”) and HSBC BANK USA, NATIONAL
ASSOCIATION (the “Lender”).

RECITALS

Borrower
and Lender are parties to a Loan and Security Agreement dated as of April 5, 2012, as amended (collectively, the “Loan
Agreement”). Capitalized terms used herein shall have the meanings given to them in the Loan Agreement unless otherwise
specified.

Borrower
has requested that the Lender amend certain terms and conditions of the Loan Agreement, pursuant to the terms of this Amendment.

NOW,
THEREFORE, in consideration of the promises, covenants and understandings set forth in this Amendment and the benefits to
be received from the performance of such promises, covenants and understandings, and for other good and valuable consideration,
the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows:

1.                 
As of the date hereof, the definition of “Revolving Line”, as set forth in Section 1.2 of the Loan Agreement, is amended
and restated in its entirety to read as follows:

“Revolving
Line” is an Advance or Advances in an aggregate principal amount up to Forty Million Dollars ($40,000,000.00).

2.                 
As of the date hereof, Section 6.7(a) of the Loan Agreement is amended and restated in its entirety to read as follows:

“Debt/Net
Worth Ratio. A ratio of Total Liabilities less Subordinated Debt to Tangible Net Worth of not more than than the ratio
set forth below for each quarter set forth below:

	Quarterly
                                                                                                Period

        Ending
        on

         
	Debt/Net
    Worth Ratio
	March
    31st of each year	2.0
    to 1.0
	June
    30th of each year	2.5
    to 1.0
	September
    30th of each year	2.5
    to 1.0
	December
    31st of each year	2.0
    to 1.0

 

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3.                 
As of the date hereof, Section 6.7(b) of the Loan Agreement is amended and restated in its entirety to read as follows:

“Tangible
Net Worth. A Tangible Net Worth of at least $20,000,000.”

4.                 
Consent. The Lender hereby consents to the acquisition by the Borrower of certain assets of (Company Name Omitted), so
long as (i) the acquisition consideration to be paid by the Borrower and the other terms and conditions of the acquisition, in
either case, previously disclosed to the Lender, are not modified in any material respect and (ii) the conditions set forth in
Section 7.3 of the Loan Agreement are satisfied with respect to such asset acquisition (excluding any requirement to obtain the
Lender’s prior written consent, with this Section 4 of this Amendment constituting such prior written consent).

5.                 
No Other Changes. Except as explicitly amended by this Amendment, all of the terms and conditions of the Loan Agreement
shall remain in full force and effect.

6.                 
Conditions Precedent. This Amendment shall be effective when the Lender shall have received an executed original hereof
and each of the following, all in substance and form acceptable to the Lender in its sole discretion:

(a)               
A Certificate of Borrower (1) certifying that there have been no changes to (i) the articles of incorporation and bylaws of the
Borrower, which were certified and delivered to the Lender pursuant to the Secretary’s Certificate dated as of April 5,
2012, and (ii) to the slate of officers and agents authorized to sign and to act on behalf of the Borrower and (2) attaching
the resolutions of the board of directors of the Borrower, which approve the execution and delivery of this Amendment, and any
and all documents, instruments, writings and agreements related hereto (collectively, the “Amendment Documents”).

(b)              
An amended and restated Revolving Note.

(c)               
Such other matters as the Lender may require.

7.                 
Representations and Warranties. The Borrower hereby represents and warrants to the Lender as follows:

(a)               
The Borrower has all requisite power and authority to execute this Amendment and the other Amendment Documents and to perform
all of the obligations hereunder and thereunder, and the Amendment Documents have been duly executed and delivered by the Borrower
and constitute the legal, valid and binding obligations of the Borrower, enforceable in accordance with their terms.

(b)              
The execution, delivery and performance by the Borrower of this Amendment and the other Amendment Documents have been duly authorized
by all necessary corporate action and do not (i) require any authorization, consent or approval by any governmental department,
commission, board, bureau, agency or instrumentality, domestic or foreign, (ii) violate any provision of any law, rule or
regulation or of any order, writ, injunction or decree presently in effect, having applicability to the Borrower, or the articles
of incorporation or by-laws of the Borrower, or (iii) result in a breach of or constitute a default under any indenture or
loan or Loan Agreement or any other agreement, lease or instrument to which the Borrower is a party or by which it or its properties
may be bound or affected.

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(c)               
All of the representations and warranties contained in Section 5 of the Loan Agreement are correct on and as of the date hereof
as though made on and as of such date, except to the extent that such representations and warranties relate solely to an earlier
date.

8.                 
References. All references in the Loan Agreement to “this Agreement” shall be deemed to refer to the Loan Agreement
as amended hereby; and any and all references in the Loan Documents to the Loan Agreement shall be deemed to refer to the Loan
Agreement as amended hereby.

9.                 
No Other Waiver. The execution of this Amendment and acceptance of any documents related hereto shall not be deemed to
be a waiver of any Default or Event of Default under the Loan Agreement, or breach, default or event of default under any Loan
Documents or other document held by the Lender, whether or not known to the Lender and whether or not existing on the date of
this Amendment.

10.             
Costs and Expenses. The Borrower hereby reaffirms its agreement under the Loan Agreement to pay or reimburse the Lender
on demand for all reasonable costs and expenses incurred by the Lender in connection with the Loan Documents, including without
limitation all reasonable fees and disbursements of legal counsel. Without limiting the generality of the foregoing, the Borrower
specifically agrees to pay all reasonable fees and disbursements of counsel to the Lender for the services performed by such counsel
in connection with the preparation of this Amendment and the documents and instruments incidental hereto. 

11.             
Miscellaneous. This Amendment may be executed in any number of counterparts, each of which when so executed and delivered
shall be deemed an original and all of which counterparts, taken together, shall constitute one and the same instrument.

REMAINDER
OF THIS PAGE INTENTIONALLY LEFT BLANK

    	3

    	 

    

IN
WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed as of the date first written above.

	 	 
	HSBC BANK USA,
    NATIONAL ASSOCIATION	ACME UNITED CORPORATION
	 	 
	 	 
	By:_________________________________	By:_________________________________
	Name:	Name:
	Title	Title

 

 

    	4

    	 

    

AMENDED
AND RESTATED

SECURED REVOLVING NOTE

	$40,000,000	 
	 	Maturity
    Date:  April 5, 2017

 

FOR
VALUE RECEIVED, ACME UNITED CORPORATION, a Connecticut corporation (“Borrower”) hereby promises to pay to the order
of HSBC Bank, National Association or the holder (the “Lender”) of this Secured Revolving Note (this “Revolving
Note”) at 452 Fifth Avenue, New York, New York or such other place of payment as the holder of this Revolving Note may specify
from time to time in writing, in lawful money of the United States of America, the principal amount of Forty Million Dollars ($40,000,000)
or such other principal amount as Lender has advanced to Borrower, together with interest at a rate as specified in the Loan Agreement
(defined hereafter). 

 

This
Revolving Note is the Revolving Note referred to in, and is executed and delivered in connection with, that certain Loan and Security
Agreement dated April 5, 2012, by and between Borrower and Lender (as the same may from time to time be amended, modified or supplemented
in accordance with its terms, the “Loan Agreement”), and is entitled to the benefit and security of the Loan Agreement
and the other Loan Documents (as defined in the Loan Agreement), to which reference is made for a statement of all of the terms
and conditions thereof. All payments shall be made in accordance with the Loan Agreement. All terms defined in the Loan Agreement
shall have the same definitions when used herein, unless otherwise defined herein. An Event of Default under the Loan Agreement
shall constitute a default under this Revolving Note. 

 

Borrower
waives presentment and demand for payment, notice of dishonor, protest and notice of protest under the UCC or any applicable law.
Borrower agrees to make all payments under this Revolving Note without setoff, recoupment or deduction and regardless of any counterclaim
or defense. This Revolving Note has been negotiated and delivered to Lender and is payable in the State of New York. This Revolving
Note shall be governed by and construed and enforced in accordance with, the laws of the State of New York, excluding any conflicts
of law rules or principles that would cause the application of the laws of any other jurisdiction.

 

This
Revolving Note amends and restates in its entirety and is given in substitution for (but not in satisfaction of) that certain
Revolving Note dated April 5, 2012 executed by Borrower in favor of Lender in the original principal amount of $30,000,000.

 

[Remainder
of Page Intentionally Left Blank]

 

    	5

    	 

    

 

	 	 
	BORROWER FOR
    ITSELF	ACME UNITED CORPORATION
	 	 
	 	 
		By:_________________________________
		Name:
		Title

 

	6

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