Document:

ex10_6.htm

Exhibit 10.6

 

Base Salaries of Executive Officers of the Registrant

 

As of March 1, 2011, the following are the base salaries (on an annual basis) of the executive officers (as defined in Item 402 (a)(3) of Regulation S-K) of Old Point Financial Corporation:

	
Robert F. Shuford, Sr.

Chairman, President & Chief Executive Officer

Old Point Financial Corporation

	  	
$

	
300,000

	  
	  	  	  	  	  
	
Louis G. Morris

Executive Vice President/OPNB

Old Point Financial Corporation

	  	
$

	
275,000

	  
	  	  	  	  	  
	
Robert F. Shuford, Jr.

Senior Vice President/Operations

Old Point Financial Corporation

	  	
$

	
191,300

	  
	  	  	  	  	  
	
Joseph R. Witt

Senior Vice President/Corporate Banking

Old Point Financial Corporation

	  	
$

	
188,700

	  
	  	  	  	  	  
	
Melissa L. Burroughs

Senior Vice President/Lending & Business Development

Old Point Financial Corporation

	  	
$

	
176,000

	  
	  	  	  	  	  
	
Laurie D. Grabow

Chief Financial Officer & Senior Vice President/Finance

Old Point Financial Corporation

	  	
$

	
173,400

	  
	  	  	  	  	  
	
Eugene M. Jordan, II

Executive Vice President/Trust

Old Point Financial Corporation

	  	
$

	
163,200ex4_3.htm

EXHIIBT 4.3

 

FIRST AMENDMENT TO LOAN AGREEMENT AND CONSENT

 

          This First Amendment to Loan Agreement and Consent is executed effective January 30, 2001 by and among PNC Bank, National Association (“PNC”), as agent (in such capacity, “Agent”) for the financial institutions (collectively the “Lenders”) that are now or that may hereafter become a party to the Credit Agreement (as defined below), and Perma-Fix Environmental Services, Inc. (the “Borrower”).

 

RECITALS

 

          PNC, as Agent for the Lenders, has established a credit facility for the Borrower (the “Senior Credit Facility”), as evidenced by that certain Revolving Credit, Term, Loan and Security Agreement, dated as of December 22, 2000 (the “Credit Agreement”) by and among the Agent, the Lenders and the Borrower.

 

          BHC Interim Funding, L.P. (“BHC”) has proposed to extend credit to the Borrower in an amount up to $6,000,000.00 (the “BHC Loan”) to be evidenced and secured by a certain Loan Agreement, Promissory Note, Warrant and certain other documents executed in connection therewith (the “BHC Documents”).

 

           The Borrower has requested and PNC has agreed to consent to the BHC Loan and to the BHC Documents, and in order to facilitate the BHC Loan transaction, the Borrower has requested and PNC has agreed to amend a certain provision of the Credit Agreement.

 

          Now Therefore, for good and valuable consideration the parties hereto agree as follows:

 

1.        Defined Terms. Except as otherwise defined herein, all terms defined in the Credit Agreement will have the same meaning herein.

 

2.        Amendment. PNC, as Agent for the Lenders, hereby agrees to amend the provisions of paragraph 7.4 of the Credit Agreement by deleting the last two sentences thereof and adding the following:

 

“Notwithstanding the foregoing, Borrower will be entitled to use all proceeds received by the Borrower or any of the Subsidiaries generated from issuances of equity or subordinated Indebtedness from and after January 30, 2001, to pay Subordinated Loans and to pay any other Indebtedness owing by Borrower to any Person other than PNC or the Lenders, including but not limited to BHC Interim Funding, L.P. and RBB Bank.”

 

3.        Consent. PNC hereby consents to the BHC Loan and to the execution and delivery of the BHC Documents and the granting of liens to BHC pursuant to the terms of the BHC Documents. PNC acknowledges and agrees that PNC has previously received prior drafts of the BHC documents and all other information regarding the BHC Loan required by PNC in order to grant such consent.

 

4.        Full Force and Effect. Except to the extent amended hereby, all of the terms, covenants and conditions contained in the Credit Agreement will remain in full force and effect and the liens created thereby will remain unabated and uninterrupted.

 

This instrument has been executed effective as of the date first above written.

	  	  	  	  
	  	
PNC Bank, National Association, as Agent

	  
	  	
For the Lenders

	  
	  	  	  	  
	  	
By:

	
          /s/ Wing Louie

	  

	  	
Name:

	
          Wing Louie

	  

	  	
Title:

	
          Vice President

	  

 

	 	  	  	  
	  	

Perma-Fix Environmental Services, Inc.,

	  
	  	  	  	  
	  	
By:

	
          Richard T. Kelecy

	  

	  	
Name:

	
          Richard T. Kelecy

	  

	  	
Title:

	
          Vice President

	  
	 	 	 	 

 

Created by Morningstar® Document ResearchSM

http://documentresearch.morningstar.com

Source: PERMA FIX ENVIRONMENTAL SERVICES INC, 8-K, February 26, 2001

 

  

  

  

 

          11.       Headings. The headings of various sections of this Warrant Certificate have been inserted for reference only and shall not be a part of this Agreement.

 

          12.      Subject to Warrant Agreement. This Warrant Certificate is subject to the terms and conditions set forth in the Warrant Agreement. In the event of a conflict between this Warrant and the Warrant Agreement, the Warrant Agreement shall control.

 

          IN WITNESS WHEREOF, the Company has caused this Warrant Certificate to be duly executed, manually or by facsimile, by one of its officers thereunto duly authorized.

 

          Dated as of December 22, 2000.

 

	  	PERMA-FIX ENVIRONMENTAL
	  	SERVICES, INC.
	  	  	  
	  	
By:

	
          /s/ Richard T. Kelecy

	
 

	  	  	
Richard T. Kelecy

	  	  	
Vice President and Chief Financial Officerex4_5.htm

EXHIBIT 4.5

AMENDMENT NO. 2

TO

REVOLVING CREDIT, TERM LOAN AND SECURITY AGREEMENT

THIS AMENDMENT NO. 2 (“Amendment”) is entered into as of May 23, 2003 by and among PERMA-FIX ENVIRONMENTAL SERVICES, INC., a corporation organized under the laws of the State of Delaware (“Borrower”), PNC BANK, NATIONAL ASSOCIATION (“PNC”), the various other financial institutions (together with PNC, collectively the “Lenders”) named in or which hereafter become a party to the Loan Agreement (as hereafter defined) and PNC as agent for Lenders (in such capacity, “Agent”) and as Issuing Bank.

BACKGROUND

Borrower, Agent and Lenders are parties to a Revolving Credit, Term Loan and Security Agreement dated as of December 22, 2000 (as amended, supplemented or otherwise modified from time to time, the “Loan Agreement”) pursuant to which Lenders provides Borrower with certain financial accommodations.

Borrower has requested that Lenders amend certain provisions of the Loan Agreement and Agent, on behalf of Lenders is willing to do so on the terms and conditions hereafter set forth.

NOW, THEREFORE, in consideration of any loan or advance or grant of credit heretofore or hereafter made to or for the account of Borrower by Lenders, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:

1.             Definitions.  All capitalized terms not otherwise defined herein shall have the meanings given to them in the Loan Agreement.

2.             Amendment to Loan Agreement.  Subject to satisfaction of the conditions precedent set forth in Section 3 below, the Loan Agreement is hereby amended as follows:

(a)            Section 1.2 of the Loan Agreement is hereby amended by inserting the following defined terms in their appropriate alphabetical order:

 

“Amendment No. 2” shall mean Amendment No. 2 to Revolving Credit, Term Loan and Security Agreement dated as of May _, 2003.

“Amendment No. 2 Effective Date” shall mean the date when the conditions of effectiveness set forth in Section 3 of Amendment No. 2 have been met to Agent’s satisfaction.

  

  

  

(b)           Section 1.2 of the Loan Agreement is hereby amended by amending the following defined terms to provide as follows:

“Amortizing Availability” shall mean $4,000,000, less $66,666.67, on the fifteenth (15th) day of each month commencing with July 15, 2003 and reducing to $0 upon the end of the Term.  In the event any Equipment of East Tennessee Materials & Energy Corporation is sold on or after the Amendment No. 2 Effective Date, the Amortizing Availability shall be further reduced by the greater of (i) 75% of the fair market value of such Equipment or (ii) 45% of the liquidation in place value of such Equipment, in each case as set forth in the appraisal dated March 2, 2002 conducted by Marshall and Stevens Valuation Consulting.

“Documentary L/C” means any commercial documentary letter of credit issued by the Issuing Bank pursuant to Section 2.14.

“L/C Commitment” means the commitment of the Issuing Bank to Issue, and the commitment of the Lenders severally to participate in, Letters of Credit from time to time Issued or outstanding as provided herein, in an aggregate amount not to exceed on any date the sum of $500,000; provided that the L/C Commitment is part of the Revolving Commitment Facility, rather than a separate independent commitment.

“Letter of Credit” shall mean and include Documentary L/Cs and Standby L/Cs.

“Standby L/C” means any commercial standby letter of credit issued by the Issuing Bank pursuant to Section 2.14.

(c)            Section 2.14(i)(i) of the Loan Agreement is hereby amended by amending the first sentence thereof in its entirety to provide as follows:

 

“Borrower shall pay to the Agent for the account of the Lenders a letter of credit fee with respect to Letters of Credit equal to the rate per annum equal to three percent (3%) per annum, (which rate shall be increased by 2% per annum at any time when an Event of Default shall have occurred and be continued) of the average daily maximum amount available to be drawn of the outstanding Letters of Credit, computed on a quarterly basis in arrears on the last Business Day of each calendar quarter based upon the applicable Letters of Credit outstanding for that quarter as calculated by Agent, such computation be made on the basis of actual days elapsed in a 360-day year.”

  

  

  

(d)           Section 2.14(k) of the Loan Agreement is hereby amended in its entirety to provide as follows:

 

(a)           “Uniform Customs and Practice and International Standby Practices.  Each Documentary L/Credit shall be subject to the Uniform Customs and Practice for Documentary Credits (1993 Revision), International Chamber of Commerce Publication No. 500 and any amendments or revision thereof adhered to by the Issuing Bank.  Each Standby L/C shall be subject to the International Standby Practices (ISP98 – International Chamber of Commerce Publication Number 590) (the “ISP98 Rules”) and, as to matters not governed by the ISP98 Rules or UCP500, the laws of the State of New York."

3.             Conditions of Effectiveness.  This Amendment shall become effective upon satisfaction of the following conditions precedent:  Agent shall have received (i) four (4) copies of this Amendment executed by Borrower and consented and agreed to by Guarantors, (ii) an amendment fee of $25,000 (which fee shall be charged to Borrower’s Account), and (iii) such other certificates, instruments, documents, agreements and opinions of counsel as may be required by Agent or its counsel, each of which shall be in form and substance satisfactory to Agent and its counsel.

4.             Representations and Warranties.  Borrower hereby represents and warrants as follows:

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

(b)          Upon the effectiveness of this Amendment, Borrower hereby reaffirms all covenants, representations and warranties made in the Loan Agreement to the extent the same are not amended hereby and agrees that all such covenants, representations and warranties shall be deemed to have been remade as of the effective date of this Amendment, except that such representations and warranties shall be qualified by the matters set forth on Schedule A attached hereto and made a part hereof.

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

(d)          Borrower has no defense, counterclaim or offset with respect to the Loan Agreement.

(e)           Borrower is incorporated in the State of Delaware.

5.             Effect on the Loan Agreement.

  

  

  

(a)           Upon the effectiveness of Section 2 hereof, each reference in the Loan Agreement to “this Agreement,” “hereunder,” “hereof,” “herein” or words of like import shall mean and be a reference to the Loan Agreement as amended hereby.

(b)           Except as specifically amended herein, the Loan 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.

(c)           The execution, delivery and effectiveness of this Amendment shall not operate as a waiver of any right, power or remedy of Agent or any Lender, nor constitute a waiver of any provision of the Loan Agreement, or any other documents, instruments or agreements executed and/or delivered under or in connection therewith.

6.             Governing Law.  This Amendment shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns and shall be governed by and construed in accordance with the laws of the State of New York.

7.             Headings.  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.

8.             Counterparts.  This Amendment may be executed by the parties hereto in one or more counterparts, each of which shall be deemed an original and all of which when taken together shall constitute one and the same agreement.

IN WITNESS WHEREOF, this Amendment has been duly executed as of the day and year first written above.

	  	
PERMA-FIX ENVIRONMENTAL SERVICES, INC.

	  	  	  	  	  
	  	
By:

	
 /s/ Richard T. Kelecy

	  
	  	  	
Name:

	
Richard T. Kelecy

	  	  	
Title:

	
Vice President

	  	  	  	  	  
	  	
PNC BANK, NATIONAL ASSOCIATION, as Agent and Lender

	  	  	  	  	  
	  	
By:

	
/s/ Alex M. Council IV

	  
	  	  	
Name:

	
Alex M. Council IV

	  	  	
Title:

	
 Vice President

[SIGNATURES CONTINUED ON FOLLOWING PAGE]

  

  

  

CONSENTED AND AGREED TO:

SCHREIBER, YONLEY AND ASSOCIATES, INC.

	
By: 

	
/s/ Richard T. Kelecy

	  
	  	
Name:

	
Richard T. Kelecy

	  	
Title:

	
Vice President

	  	  	  	  
	
PERMA-FIX TREATMENT SERVICES, INC.

	  	  	  	  
	
By:

	
 /s/ Richard T. Kelecy

	  
	  	
Name:

	
Richard T. Kelecy

	  	
Title:

	
  Vice President

	  	  	  	  
	
PERMA-FIX, INC.

	  	  	  	  
	
By:

	
 /s/ Richard T. Kelecy

	  
	  	
Name:

	
Richard T. Kelecy

	  	
Title:

	
 Vice President

	  	  	  	  
	
PERMA-FIX OF NEW MEXICO, INC.

	  	  	  	  
	
By:

	
 /s/ Richard T. Kelecy

	  
	  	
Name:

	
Richard T. Kelecy

	  	
Title:

	
Vice President

	  	  	  	  
	
PERMA-FIX OF FLORIDA, INC.

	  	  	  	  
	
By:

	
 /s/ Richard T. Kelecy

	  
	  	
Name:

	
Richard T. Kelecy

	  	
Title:

	
 Vice President

	  	  	  	  
	
PERMA-FIX OF MEMPHIS, INC.

	  	  	  	  
	
By:

	
  /s/ Richard T. Kelecy

	  
	  	
Name:

	
Richard T. Kelecy

	  	
Title:

	
  Vice President

  

  

  

PERMA-FIX OF DAYTON, INC.

	
By: 

	
/s/ Richard T. Kelecy

	  
	  	
Name:

	
Richard T. Kelecy

	  	
Title:

	
 Vice President

	  	  	  	  
	
PERMA-FIX OF FT. LAUDERDALE, INC.

	  	  	  	  
	
By:

	
/s/ Richard T. Kelecy

	  
	  	
Name:

	
Richard T. Kelecy

	  	
Title:

	
 Vice President

	  	  	  	  
	
PERMA-FIX OF ORLANDO, INC.

	  	  	  	  
	
By: 

	
/s/ Richard T. Kelecy

	  
	  	
Name:

	
Richard T. Kelecy

	  	
Title:

	
  Vice President

	  	  	  	  
	
PERMA-FIX OF SOUTH GEORGIA, INC.

	  	  	  	  
	
By: 

	
/s/ Richard T. Kelecy

	  
	  	
Name:

	
Richard T. Kelecy

	  	
Title:

	
  Vice President

	  	  	  	  
	
PERMA-FIX OF MICHIGAN, INC.

	  	  	  	  
	
By:

	
 /s/ Richard T. Kelecy

	  
	  	
Name:

	
Richard T. Kelecy

	  	
Title:

	
 Vice President

	  	  	  	  
	
DIVERSIFIED SCIENTIFIC SERVICES, INC.

	  	  	  	  
	
By:

	
 /s/ Richard T. Kelecy

	  
	  	
Name:

	
Richard T. Kelecy

	  	
Title:

	
Vice President

  

  

  

INDUSTRIAL WASTE MANAGEMENT, INC.

	
By: 

	
/s/ Richard T. Kelecy

	  
	  	
Name:

	
Richard T. Kelecy

	  	
Title:

	
Vice President

	  	  	  	  
	
MINTECH, INC.

	  	  	  	  
	
By: 

	
/s/ Richard T. Kelecy

	  
	  	
Name:

	
Richard T. Kelecy

	  	
Title:

	
Vice President

	  	  	  	  
	
RECLAMATION SYSTEMS, INC.

 

	
By: 

	
/s/ Richard T. Kelecy

	  
	  	
Name:

	
Richard T. Kelecy

	  	
Title:

	
Vice President

	  	  	  	  
	
EAST TENNESSEE MATERIALS & ENERGY CORPORATION

	  	  	  	  
	
By:

	
/s/ Richard T. Kelecy

	  
	  	
Name:

	
Richard T. Kelecy

	  	
Title:

	
Vice President

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