Document:

Exhibit
10.1

 

FIFTH AMENDMENT TO CREDIT AGREEMENT

 

FIFTH AMENDMENT TO CREDIT AGREEMENT (this “Fifth
Amendment”), dated as of December 21, 2004, among DADE BEHRING HOLDINGS,
INC., a Delaware corporation (“Holdings”), DADE BEHRING INC., a Delaware
corporation (the “Borrower”), the lenders from time to time party to the
Credit Agreement referred to below (the “Lenders”), and DEUTSCHE BANK
AG, NEW YORK BRANCH, as Administrative Agent (in such capacity, the “Administrative
Agent”).  Unless otherwise indicated,
all capitalized terms used herein and not otherwise defined shall have the
respective meanings provided such terms in the Credit Agreement referred to
below.

 

WITNESSETH :

 

WHEREAS, Holdings, the Borrower, the Lenders, Deutsche
Bank Securities Inc., as Lead Arranger and Lead Book Runner, General Electric
Capital Corporation and The Royal Bank of Scotland PLC, as Syndication Agents,
and the Administrative Agent are parties to a Credit Agreement, dated as of
October 3, 2002 (as amended, modified and/or supplemented to, but not
including, the date hereof, the “Credit Agreement”); and

 

WHEREAS, subject to the terms and conditions of this
Fifth Amendment, the parties hereto wish to amend the Credit Agreement as
herein provided;

 

NOW, THEREFORE, it is agreed:

 

I.              Amendments
to Credit Agreement.

 

1.             Section 8.02(n) of the Credit
Agreement is hereby amended by deleting the text “$150,000,000” appearing in
said Section and inserting the text “$175,000,000” in lieu thereof.

 

2.             Section 8.09(a) of the Credit
Agreement is hereby amended by deleting the table appearing in said Section and
inserting the following new table in lieu thereof:

 

	
  “Fiscal Year Ending

  	
   

  	
  Amount

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  December 31, 2003

  	
   

  	
  $

  	
  110,000,000

  	
   

  
	
  December 31, 2004

  	
   

  	
  $

  	
  150,000,000

  	
   

  
	
  December 31, 2005

  	
   

  	
  $

  	
  175,000,000

  	
   

  
	
  December 31, 2006

  	
   

  	
  $

  	
  175,000,000

  	
   

  
	
  December 31, 2007

  	
   

  	
  $

  	
  175,000,000

  	
   

  
	
  December 31, 2008

  	
   

  	
  $

  	
  175,000,000

  	
  ”.

  

 

3.             The definition of “Applicable
Margin” appearing in Section 10 of the Credit Agreement is hereby amended by
(i) deleting the table appearing in said Section and inserting the following
new table in lieu thereof:

 

 

	
  Applicable Credit Rating

  Level

  	
   

  	
  Applicable Margins

  	
   

  
	
   

  	
  A-3 Term Loans

  	
   

  	
  B Term Loans

  	
   

  	
  Revolving Loans

  	
   

  	
  Swingline Loans

  	
   

  
	
   

  	
   

  	
  Euro

  Rate

  	
   

  	
  Base

  Rate

  	
   

  	
  Euro

  Rate

  	
   

  	
  Base

  Rate

  	
   

  	
  Euro

  Rate

  	
   

  	
  Base

  Rate

  	
   

  	
  Euro

  Rate

  	
   

  	
  Base

  Rate

  	
   

  
	
  Rating Level 1

  	
   

  	
  4.00

  	
  %

  	
  N/A

  	
   

  	
  1.75

  	
  %

  	
  0.75

  	
  %

  	
  3.75

  	
  %

  	
  2.75

  	
  %

  	
  4.25

  	
  %

  	
  2.75

  	
  %

  
	
  Rating Level 2

  	
   

  	
  4.00

  	
  %

  	
  N/A

  	
   

  	
  1.75

  	
  %

  	
  0.75

  	
  %

  	
  3.75

  	
  %

  	
  2.75

  	
  %

  	
  4.25

  	
  %

  	
  2.75

  	
  %

  
	
  Rating Level 3

  	
   

  	
  4.25

  	
  %

  	
  N/A

  	
   

  	
  1.75

  	
  %

  	
  0.75

  	
  %

  	
  4.00

  	
  %

  	
  3.00

  	
  %

  	
  4.50

  	
  %

  	
  3.00

  	
  %

  

 

and (ii) inserting the following sentence at
the end of said definition:

 

“It is understood
and agreed that for periods prior to the Fifth Amendment 100% Effective Date,
the “Applicable Margin” for B Term Loans shall be determined in accordance with
the definition of “Applicable Margin” used in this Agreement (as in effect
immediately prior to the Fifth Amendment 100% Effective Date).”.

 

4.             Section 10 of the Credit
Agreement is hereby amended by inserting the following new definitions in
appropriate alphabetical order:

 

“Fifth Amendment” shall mean the Fifth Amendment to this Agreement,
dated as of December 21, 2004.

 

“Fifth Amendment 100% Effective Date” shall have the meaning provided
in the Fifth Amendment.

 

II.            Miscellaneous
Provisions.

 

1.             In order to induce the Lenders
to enter into this Fifth Amendment, each of Holdings and the Borrower hereby
represents and warrants that (i) no Default or Event of Default exists as of
each of the Fifth Amendment General Effective Date (as defined below) and the
Fifth Amendment 100% Effective Date (as defined below), in each case both
immediately before and immediately after giving effect thereto, (ii) all of the
representations and warranties contained in the Credit Agreement and the other
Credit Documents are true and correct in all material respects on each of the
Fifth Amendment General Effective Date and the Fifth Amendment 100% Effective
Date, in each case both immediately before and immediately after giving effect
thereto, with the same effect as though such representations and warranties had
been made on and as of the Fifth Amendment General Effective Date or the Fifth
Amendment 100% Effective Date, as the case may be (it being understood that any
representation or warranty made as of a specific date shall be true and correct
in all material respects as of such specific date).

 

2

 

2.             This Fifth Amendment is limited
as specified and shall not constitute a modification, acceptance or waiver of
any other provision of the Credit Agreement or any other Credit Document.

 

3.             This Fifth Amendment may be
executed in any number of counterparts and by the different parties hereto on
separate counterparts, each of which counterparts when executed and delivered
shall be an original, but all of which shall together constitute one and the
same instrument. A complete set of counterparts shall be lodged with the
Borrower and the Administrative Agent.

 

4.             THIS FIFTH AMENDMENT AND THE
RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE CONSTRUED IN
ACCORDANCE WITH AND GOVERNED BY THE LAW OF THE STATE OF NEW YORK.

 

5.             (a) The provisions of Part I of
this Fifth Amendment (other than Sections 3 and 4 of Part I hereof) shall
become effective on the date (the “Fifth Amendment General Effective Date”)
when each of Holdings, the Borrower, each other Credit Party and Lenders
constituting the Required Lenders shall have signed a counterpart hereof
(whether the same or different counterparts) and shall have delivered
(including by way of facsimile or other electronic transmission) the same to
White & Case LLP, 1155 Avenue of the Americas, New York, NY 10036
Attention: May Yip (facsimile number: 212-354-8113 / email address:
myip@whitecase.com).

 

(b)           The provisions of
Sections 3 and 4 of Part I of this Fifth Amendment shall become effective on
the date (the “Fifth Amendment 100% Effective Date”) when each of the
following conditions shall have been satisfied:

 

(i)            each
Lender with outstanding B Term Loans on such date shall have signed a
counterpart hereof (whether the same or different counterparts) and shall have
delivered the same to White & Case LLP as provided in preceding clause
(a)(i); and

 

(ii)           the
Fifth Amendment General Effective Date shall have occurred.

 

6.             By executing and delivering a copy
hereof, each Credit Party hereby agrees that all Loans (including, without
limitation, the B Term Loans) shall be fully guaranteed pursuant to the
Holdings Guaranty and the Subsidiary Guaranty in accordance with the terms and
provisions thereof and shall be fully secured pursuant to the Security
Documents.

 

7.             From and after each of the Fifth
Amendment General Effective Date and the Fifth Amendment 100% Effective Date,
all references in the Credit Agreement and each of the other Credit Documents
to the Credit Agreement shall be deemed to be references to the Credit
Agreement as modified hereby on the Fifth Amendment General Effective Date or
the Fifth Amendment 100% Effective Date, as the case may be.

 

*     *     *

 

3

 

IN WITNESS WHEREOF, the parties hereto have caused
their duly authorized officers to execute and deliver this Fifth Amendment as
of the date first above written.

 

	
   

  	
  DADE BEHRING
  HOLDINGS, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
  /s/    Mark
  W. Moran

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Mark W.
  Moran

  
	
   

  	
   

  	
  Title: 

  	
  Vice
  President Tax and Treasury

  
	
   

  	
   

  
	
   

  	
  DADE BEHRING
  INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
  /s/    Mark
  W. Moran

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Mark W.
  Moran

  
	
   

  	
   

  	
  Title: 

  	
  Corporate
  Vice President and Treasurer

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  DEUTSCHE
  BANK AG, NEW YORK BRANCH,

  
	
   

  	
   

  	
  Individually
  and as Administrative

  
	
   

  	
   

  	
  Agent

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
  /s/    Mary
  Kay Coyle

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Mary Kay
  Coyle

  
	
   

  	
   

  	
  Title: 

  	
  Managing
  Director

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
  /s/    Carin
  M. Keegan

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Carin M.
  Keegan

  
	
   

  	
   

  	
  Title: 

  	
  Vice
  President

  
										

 

 

Each of the undersigned, each being a Subsidiary
Guarantor under, and as defined in, the Credit Agreement referenced in the
foregoing Fifth Amendment, hereby consents to the entering into of the Fifth
Amendment and agrees to the provisions thereof (including, without limitation,
Part II, Section 6 thereof).

 

	
   

  	
  DADE BEHRING FINANCE CO. LLC

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
  /s/   Louise S. Pearson

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Louise S. Pearson

  
	
   

  	
   

  	
  Title:

  	
  Secretary and General Counsel

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  DADE FINANCE
  LLC (formerly known as Dade

          Finance, Inc.)

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
  /s/   Louise S. Pearson

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Louise S. Pearson

  
	
   

  	
   

  	
  Title:

  	
  Secretary and General CounselExhibit 10.1

 

EMPLOYMENT SEPARATION AGREEMENT

AND RELEASE OF CLAIMS

 

This
Agreement (“Agreement”) is made by and between MICHAEL SNYDER (“Employee”) and AIRNET
SYSTEMS, INC., an Ohio corporation (the “Company”) (hereinafter collectively “the
parties”).

 

WHEREAS,
Employee has been employed by the Company as an officer since on or about February of
2004;

 

WHEREAS,
the parties acknowledge it is in their individual and mutual best interests for
Employee to separate from his employment with the Company effective January 29,
2005, but remain available to consult with the Company on a mutually agreed
basis for a period thereafter; and

 

WHEREAS,
the parties wish to define the terms and conditions of Employee’s separation
from employment with the Company;

 

NOW,
THEREFORE, in exchange for and in consideration of the following mutual
covenants and promises, the undersigned parties, intending to be legally bound,
hereby agree as follows:

 

1.                                       Separation
from Employment.  Employee agrees his
employment with the Company will end effective January 29, 2005 (“Separation
Date”).  On the Separation Date, Employee’s
employment with the Company and all further compensation, remuneration, bonuses,
and eligibility of Employee under Company benefit plans shall terminate, and
Employee shall not be entitled to receive any further payments or benefits of
any kind from the Company (including accrued vacation pay) except as otherwise
provided in this Agreement or by applicable law.

 

/s/MS     12/21/04                 /s/JB       12/21/04

Initial and date

 

1

 

2.                                       Salary
and Job Title Prior to Separation Date. 
The Company agrees to change Employee’s job title to Senior Vice
President of Operations effective August 1, 2004, and to adjust Employee’s
salary to One Hundred Ninety Thousand Dollars ($190,000.00) per year effective
(and retroactively adjusted and paid to) August 1, 2004.  Retroactive pay for the five (5) month period
from August 1, 2004 through December 31, 2004 equals Twelve Thousand
Five Hundred Dollars ($12,500.00), which shall be paid to Employee, less
required withholdings, no later than January 17, 2005.  All other existing terms and conditions of
Employee’s employment will remain unchanged until the Separation Date, and
Employee agrees to cooperate and assist in the transition of his job duties and
responsibilities in an orderly and efficient manner.

 

3.                                       Consulting
Services Following Separation Date.  Following
the Separation Date, the Employee agrees to provide consulting services for the
Company on such matters as both parties agree upon; provided that no such
consulting shall be required to be performed at any particular place of
business, except as agreed to by Employee, and further provided that such
consulting services shall be reasonably limited so as not to interfere or
conflict with any other responsibilities the Employee may have.  All reasonable expenses, including travel
expenses, incurred by Employee in performing any such requested consulting
services shall be promptly reimbursed by the Company upon submission by
Employee of expense documentation.  Each
hour of actual consulting service provided shall be compensated at a rate of
$100.00.  Employee shall be responsible
for billing the Company for these services and will be responsible for paying appropriate
taxes.  The Company shall pay Employee
within 14 days of receipt of billing and/or expenses from Employee, and will
provide Employee with the appropriate contact and address for billing purposes.

 

/s/MS     12/21/04                 /s/JB       12/21/04

Initial and date

 

2

 

4.                                       Severance
Benefits Following Separation Date.  The
Company agrees to pay to Employee an amount equal his last annual base salary (i.e.,
$190,000.00) over the twelve (12) month period from the Separation Date to January 31,
2006, in twenty-four (24) equal semimonthly installments, subject to ordinary
and necessary withholding taxes.  The
first of these payments shall be on or about February 14, 2005, and the
final of these payments shall be on or about January 31, 2006.  The Company will also reimburse Employee for
the costs of outplacement services incurred by him through the end of calendar
year 2005, up to a maximum amount of Fifteen Thousand Dollars ($15,000.00), and
such reimbursement will be made within fourteen (14) days after receipt by the
Company of adequate documentation of such expenses.  Payments under this Paragraph 4 do not, and
shall not be construed to, create or continue an employment relationship
between Employee and Company following the Separation Date.

 

5.                                       Medical
Insurance.  The Company agrees to make
a lump sum payment to Employee within thirty (30) days following the Separation
Date in an amount equal to the Employee’s cost of continuing the medical
insurance coverage for Employee and Employee’s eligible dependents under the Consolidated
Omnibus Budget Reconciliation Act of 1985 (“COBRA”) for the twelve (12) month
period following the Separation Date, less an amount equal to the premium the
Employee would have paid for such insurance had Employee continued employment
for the same twelve (12) month period from the Separation Date to January 31,
2006.

 

6.                                       Withholding.  The Company will make appropriate deductions
from the amounts paid to Employee under Paragraphs 2 and 4 of this Agreement (other
than reimbursement of outplacement expenses) based upon the most recent Form
W-4 submitted by

 

/s/MS     12/21/04                 /s/JB       12/21/04

Initial and date

 

3

 

Employee to the
Company.  Employee agrees that he will be
exclusively liable for payment of the employee portion of any and all taxes
which may be due as a result of all payments to him under this Agreement and
agrees that he will pay such taxes at such time and in such amount required of
him.

 

7.                                       Stock
Options.  In addition to the severance
payments under Paragraph 4 and the other benefits under this Agreement,
Employee shall vest in all unvested stock options held by Employee on or before
the Separation Date and shall retain all rights to exercise such vested stock
options until January 31, 2006, to the extent and in accordance with all
terms and restrictions imposed by applicable plans and agreements, as most
recently amended, under which such options are granted.

 

8.                                       References.  The Company shall respond to employment
reference inquiries concerning Employee only with basic background information
that confirms job title, salary and dates of service, including
post-resignation consulting services, unless otherwise specifically authorized
in writing signed by Employee to provide further information.  Responses to such reference inquires shall be
signed or otherwise handled by the Company’s current Chief Executive Officer.

 

9.                                       Employee’s
Release.  In consideration of the
execution of this Agreement, Employee, for himself, his family, heirs,
executors, administrators, agents and assigns, fully and forever releases and
discharges the Company, as well as any and all of its affiliated corporations
and all of its past, present and future officers, directors, agents, employees,
shareholders, attorneys, insurers, predecessors, successors, administrators and
assigns, as applicable (hereinafter the “Released Parties”) of and from any and
all manner of action or actions, cause or

 

/s/MS     12/21/04                 /s/JB       12/21/04

Initial and date

 

4

 

causes of action, suits,
debts, covenants, contracts, agreements, judgments, executions, claims and
demands whatsoever in law or equity, whether known or unknown, which Employee
has or may now have against the Released Parties for or by reason of any
transaction, matter, cause or thing whatsoever which has arisen or occurred
prior to or including the date of his signing of this Agreement, whether based
on tort, express or implied contract, or any federal, state or local law,
statute or regulation, including, but not limited to, any alleged violation of
the Civil Rights Act of 1991; Title VII of the Civil Rights Act of 1964, as amended; the
Americans With Disabilities Act of 1990 (ADA); the Family and Medical Leave Act
of 1993 (FMLA); the Age Discrimination in Employment Act of 1967 (ADEA); the
Fair Labor Standards Act (FLSA); the Sarbanes - Oxley Act of 2002; the
Occupational Safety and Health Act of 1970 (OSHA); the Older Workers Benefit
Protection Act (OWBPA); Ohio’s Equal Pay Act; Ohio’s Continuation of Benefits
Act; Ohio’s workers compensation laws; the Ohio Civil Rights Act, including but
not limited to claims based on age, race, sex and other forms of employment
discrimination; and any and all other claims which have arisen or which could
arise out of Employee’s released claims, but excluding any vested rights
Employee may have under any pension or welfare plan of the Company for which he
would otherwise qualify.

 

10.                                 General
Release and Covenant Not to Sue. 
Employee and Company expressly acknowledge that this is a full,
complete, and general release and is to be construed to the broadest extent
permitted by law.  Employee and Company specifically
intend the release and waiver to be broadly construed so as to resolve any
dispute which may exist or which may hereafter arise based upon any fact or
matter occurring prior to execution of this Agreement.  Employee is not waiving any rights that
cannot be waived by law, but does forever waive his

 

/s/MS     12/21/04                 /s/JB       12/21/04

Initial and date

 

5

 

right to
recover any damages should the U.S. Department of Labor, U.S. Equal Employment
Opportunity Commission, Ohio Civil Rights Commission or any other state or
federal agency ever pursue a claim on his behalf against the Released Parties
relating to any matter whatsoever from the beginning of time to the date of his
execution of this Agreement.

 

11.                                 Attorneys
Fees to Enforce Agreement; Indemnity. 
The parties agree that if either party must initiate litigation to
enforce its rights under this Agreement and the party seeking relief is deemed
by the court the prevailing party, the prevailing party shall recover any
reasonable attorneys’ fees and costs incurred in pursuing its rights under this
Agreement.  The Company agrees to
indemnify, defend, and hold harmless Employee from and against any and all
liabilities, claims, costs and expenses, including reasonable attorneys’ fees,
in any matter arising out of or in connection with his employment with the
Company, provided that Employee was acting in good faith and within the scope
and course of his employment with respect to such matter.

 

12.                                 Future
Testimony.  Employee agrees that,
unless compelled by a lawful court order or subpoena, he will not discuss with
any current, future, or former employee of the Company or its predecessor,
successor, parent, subsidiary, or affiliate entities, or any attorney(s) or
other representatives of such persons, or anyone else, any information
concerning (a) the existing, former, or potential claims of Employee or of
any current, future, or former employee of the Company, against the Company
and/or the Released Parties; or (b) the policies, personnel, accounting, public
disclosures, or business transactions of the Company.  Employee shall not otherwise counsel or
assist such individuals in investigating, pursuing, or prosecuting claims,
charges, or lawsuits against the Company and/or the Released Parties.  Employee further agrees

 

/s/MS     12/21/04                 /s/JB       12/21/04

Initial and date

 

6

 

that, unless
compelled by a lawful court order or subpoena, he will not discuss with
current, future, or former clients or customers of the Company, or any federal,
state, or local government officials anything concerning or involving the
Company and/or the Released Parties and/or Employee’s employment with the
Company.  Should Employee be contacted,
he agrees to immediately notify the Company as soon as he becomes aware of such
contact, court order, or subpoena by calling the Company’s Chief Executive
Officer, or the equivalent first, and then, second, by notifying AirNet’s Chief
Executive Officer in writing by e-mail or U.S. Mail.

 

13.                                 Nondisparagement.  Except as otherwise required by law, the
parties agree not to speak negatively concerning the other party, and agree not
to do or say anything which would adversely affect the reputation, image, or
business relationships or goodwill currently enjoyed by the other party in his/its
market and the community at large.  For
purposes of this Paragraph 13, the restrictions and agreements of the Company
apply only to its officers.

 

14.                                 No
Liability or Admission.  The Company
specifically denies any wrongdoing and disclaims any liability to or wrongful
acts against Employee.  It is understood
that the Payment and promises contained within this Agreement are not, and
should not be construed as, an admission or acknowledgment by the Company of
any liability whatsoever to any person or entity, but, rather, this Agreement
is mutually and voluntarily entered into to accommodate the wishes and desires
of each party.

 

15.                                 Unauthorized
Disclosure.  The Employee shall not,
during his employment with the Company and thereafter, make any Unauthorized
Disclosure.  For purposes of this
Agreement, “Unauthorized Disclosure” shall mean disclosure by the Employee
without the prior written consent of the Company to any person, other than an
employee of the Company or a

 

/s/MS     12/21/04                 /s/JB       12/21/04

Initial and date

 

7

 

person to whom
disclosure is reasonably necessary or appropriate in connection with the
performance by the Employee of duties as an employee of the Company or as may
be legally required, of any confidential information with respect to any of the
Company’s customers, products, methods of distribution, strategies, business
and marketing plans, business policies and practices, litigation strategies or
defenses, and plans for new business concepts; provided, however, that such
term shall not include the use or disclosure by the Employee, without consent,
of any information known generally to the public (other than as a result of
disclosure by the Employee in violation of this Paragraph 15).  This confidentially covenant has no temporal,
geographical or territorial restriction.

 

16.                                 Strict
Compliance.  Failure to insist upon
strict compliance with any of the terms, covenants, or conditions hereof shall
not be deemed a waiver of any term, covenant or condition hereof.  If any provision hereof shall be determined
to be unlawful or improper, or unenforceable for any other reason, the
remaining provisions of this Agreement shall remain in full force and effect.

17.                                 Legal
Theories and Factual Assumptions. 
This Agreement shall not be subject to attack on the grounds that any or
all of the legal theories or factual assumptions used for negotiating purposes
are for any reason inaccurate or inappropriate.

 

18.                                 Modifications.  No modifications hereof shall be effective
unless the same be in a writing duly executed by all parties hereto.  This Agreement represents the sole and entire
agreement between the parties and supersedes any and all prior agreements,
negotiations, and discussions between the parties hereto and/or their
representatives.

 

/s/MS     12/21/04                 /s/JB       12/21/04

Initial and date

 

8

 

19.                                 Governing
Law.  This Agreement shall be
construed as a whole in accordance with its fair meaning and the laws of the
State of Ohio.  The parties agree that
the language of this Agreement shall not be construed for or against any
particular party merely because that party or its attorneys prepared, drafted
or proposed such language.

 

20.                                 Execution.  This Agreement may be executed in multiple
counterparts, each of which shall constitute an original, and all of which
shall constitute a single memorandum.

 

21.                                 Time
to Consider and Revoke.  Employee
understands and agrees that:  (1) he
has been advised to consult with an attorney prior to executing this Agreement;
(2) he has been given twenty-one (21) days from the date of receipt of the
Agreement to consider it; and (3) after he signs this Agreement, he has
seven (7) days from that date to change his mind and revoke the Agreement.  Employee further acknowledges and agrees that
this Agreement is written in plain language which he fully understands.  To revoke the Agreement, Employee understands
that he must communicate his decision in writing via facsimile and U.S. Mail to
Jonathan M. Norman, 52 East Gay Street, P.O. Box 1008, Columbus, Ohio
43216-1008, (614) 719-4887, by 5:00 p.m. on the seventh day following his
signing of this Agreement.  Employee
understands and agrees that should he revoke this Agreement, it shall become
null and void in its entirety.

 

22.                                 Acknowledgment
of Voluntary Act.  Employee
acknowledges that he has carefully read this Agreement, that he has had ample
opportunity to be advised by legal counsel of his choosing prior to entering
into this Agreement, and that he now knowingly and voluntarily agrees to each
and every item contained within this Agreement and to execute the same.

 

/s/MS     12/21/04                 /s/JB       12/21/04

Initial and date

 

9

 

EMPLOYEE SHOULD
INITIAL AND DATE PAGES 1 – 10

OF AGREEMENT IN
BOTTOM RIGHT CORNER

 

 

IN
WITNESS WHEREOF, the parties hereby execute this Agreement on the day and year
indicated below.

 

 

	
  Date:

  	
  12/21

  	
  , 2004

  	
   

  	
     /s/
  Michael Snyder

  	
   

  
	
   

  	
   

  	
  MICHAEL SNYDER

  	
   

  

 

 

Sworn to before me and subscribed in my presence this 21
day of Dec., 2004.

 

 

	
   

  	
   

  	
     /s/
  Ann Mancuso

  	
   

  
	
   

  	
   

  	
  Notary Public

  	
   

  
	
   

  	
   

  	
  [Notary Seal]

  	
   

  

 

	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  AIRNET SYSTEMS,
  INC.

  	
   

  
	
   

  	
   

  	
   

  	
   

  

 

	
  Date:

  	
  12/21

  	
  , 2004

  	
   

  	
  By:

  	
    /s/
  Joel E.  Biggerstaff

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Its:

  	
       C.E.O.

  	
   

  

 

 

Sworn to before me and subscribed in my presence this 21
day of Dec., 2004.

 

 

	
   

  	
   

  	
     /s/
  Ann Mancuso

  	
   

  
	
   

  	
   

  	
  Notary Public

  	
   

  
	
   

  	
   

  	
  [Notary Seal]

  	
   

  

 

 

/s/MS     12/21/04                 /s/JB       12/21/04

Initial and date

 

10

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