Document:

exh_101.htm

Exhibit 10.1

 

Amendment to Employment Agreement

of

Thomas R. Wright

 

This Amendment to Employment Agreement is dated as of September 26, 2014 and is entered into by and between you, Thomas R. Wright, and Sterling Construction Company, Inc. (the "Company").

 

Background

 

Effective September 25, 2013, you and the Company entered into an employment agreement (the "Agreement") which provided for the terms and conditions of your employment by the Company.  You have requested that the Company amend the Agreement in certain respects, and the Company has agreed to do so.

 

Therefore, for and in consideration of the foregoing recitals, the mutual covenants contained herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, it is hereby agreed as follows:

 

	
1.

	
Section 8.1.3.  The last sentence of Section 8.1.3 of the Agreement is hereby amended in its entirety to read as follows:

 

"To the extent that any medical or dental expense or in-kind benefits provided for under this Section 8.1.3 are taxable to you in a given year, any such expense shall be reimbursed to you by the Company within thirty days of such expense being incurred, and any expenses reimbursed or in-kind benefits provided hereunder shall not affect the expenses eligible for reimbursement or in-kind benefits provided in any other year."

 

	
2.

	
Section 9.1.  Section 9.1 of the Agreement is hereby amended by adding to the last sentence thereof before the period at the end of the sentence, the following:

 

", but the Company shall nevertheless pay you your then current salary for the ninety-day period"

 

	
3.

	
Section 9.2.2.  Section 9.2.2 of the Agreement is hereby amended in its entirety to read as follows:

 

	
  

	
"9.2.2

	
For purposes of this Section 9.2, "Breach" shall mean the occurrence of any of the following: (A) a material diminution in your duties, responsibilities, title or authority, or a change in your reporting relationship provided for in this Agreement; (B) you are required by the Company, without your agreement, to relocate your principal office outside of Montgomery County and its contiguous counties; (C) a material reduction in your then current salary; or (D) a material breach by the Company of any other material term or condition of this Agreement.  For the avoidance of doubt, it shall not be a Breach of this Agreement if all or substantially all of the Company's assets or outstanding shares of capital stock are acquired by one or more third parties and after such acquisition, you retain substantially the same duties, responsibilities and compensation that you had prior to such event, notwithstanding that the Company's common stock is no longer publicly traded or that the Company becomes a subsidiary or division of another entity."

 

	
4.

	
Section 10.  Section 10 of the Agreement is hereby deleted in its entirety and the following new Section 10 inserted in its place:

 

  

  

  

	
  

	
"10.

	
Acquisition Transaction.  In the event that a person or entity seeks to acquire all or substantially all of the Company's assets or outstanding common stock, whether by purchase, merger, consolidation or otherwise (a "Transaction") you agree through the closing of the Transaction (if a closing in fact occurs) (a) to remain an employee of the Company; (b) to diligently and to the best of your abilities carry out your duties and responsibilities herein; and (c) to assist, as requested, in any matters concerning the Transaction.  In consideration of your agreement to the foregoing, if the Transaction is consummated, the Company will pay you in a lump sum at the closing of the Transaction an amount equal to one year's salary at your rate of pay then in effect.

 

	
  

	
10.1

	
Nothing in this Section 10 shall affect any of the terms and conditions of Section 8 of this Agreement (Termination by the Company) or Section 9 of this Agreement (Termination by You).

 

	
  

	
10.2

	
For the avoidance of doubt, no payment shall be made to you under this Section 10 if for any reason whatsoever, the Transaction is not closed, including, but not limited to a decision by the Company not to consummate the Transaction."

 

	
5.

	
Section 12.  The notice addresses of the Company in Section 12 of the Agreement shall be amended in their entirety to read as follows:

 

	 	
"If to the Company at:

Sterling Construction Company, Inc.

1800 Hughes Landing Blvd.

The Woodlands, Texas 77380

Attention:  Board of Directors

	
With a copy to:

Sterling Construction Company, Inc.

1800 Hughes Landing Blvd.

The Woodlands, Texas 77380

Attention:  Chief HR Officer"

 

	
6.

	
Exhibit A.  The section of Exhibit A of the Agreement captioned "Place of Employment" shall be amended by substituting the words "Montgomery County" for the words "Harris County".

 

	
7.

	
Exhibit B.  Exhibit B of the Agreement is hereby deleted in its entirety.

 

	
8.

	
No Other Changes.  In all other respects the Agreement shall remain as originally written.

 

In Witness Whereof, you and the Company have executed this Agreement as of the date first above written.

 

Sterling Construction Company, Inc.

 

 

	By:	
/s/ Peter E. MacKenna

	 	
/s/ Thomas R. Wright 

	 	

Peter E. MacKenna

President & Chief Executive Officer

	 	

Thomas R. Wright

 

	

Thomas R. Wright Amendment to Employment Agreement

	
Page 2 of 2Fourth Amendment to Uncommitted Revolving Line of Credit Agreement

FOURTH AMENDMENT TO 
UNCOMMITTED REVOLVING LINE OF CREDIT AGREEMENT

THIS FOURTH AMENDMENT TO UNCOMMITTED REVOLVING LINE OF CREDIT AGREEMENT (this “Amendment”), dated as of September 24, 2014, is by and among HEARTLAND PAYMENT SYSTEMS, INC., a Delaware corporation (“Customer”), the Guarantors party hereto, and WELLS FARGO BANK, NATIONAL ASSOCIATION, in its capacity as lender (in such capacity, “Lender”) and as sponsor bank (in such capacity, “Sponsor Bank”).  Capitalized terms used herein and not otherwise defined herein shall have the meanings ascribed thereto in the Credit Agreement (as defined below).

W I T N E S S E T H

WHEREAS, Customer, the  Guarantors (together with Customer, the “Loan Parties”), Lender and Sponsor Bank are parties to that certain Uncommitted Revolving Line of Credit Agreement dated as of July 20, 2012, as amended by that certain First Amendment to Uncommitted Revolving Line of Credit Agreement, dated as of July 22, 2013, that certain Second Amendment to Uncommitted Revolving Line of Credit Agreement dated as of October 17, 2013 and that certain Third Amendment to Uncommitted Revolving Line of Credit Agreement dated as of October 23, 2013 (and as may be further amended, modified, extended, restated, replaced, or supplemented from time to time, the “Credit Agreement”); 

WHEREAS, the Loan Parties have requested that Lender and Sponsor Bank modify the Termination Date of the Credit Agreement; and

WHEREAS, Lender and Sponsor Bank are willing to modify the Termination Date of the Credit Agreement, in accordance with and subject to the terms and conditions set forth herein.

NOW, THEREFORE, in consideration of the agreements hereinafter set forth, and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto agree as follows:

ARTICLE I 
AMENDMENTS TO CREDIT AGREEMENT

1.1    Amendment to Definition of Termination Date.  The definition of Termination Date set forth in Section 1.1 of the Credit Agreement is hereby amended such that the phrase “November 1, 2014” is replaced with “November 1, 2015”.

ARTICLE II 
CONDITIONS TO EFFECTIVENESS

2.1    Closing Conditions.  This Amendment shall become effective as of the day and year set forth above (the “Amendment Effective Date”) upon receipt by Lender of a copy of this Amendment duly executed by each of the Loan Parties, Sponsor Bank and Lender.

1

ARTICLE III 
MISCELLANEOUS

3.1    Amended Terms.  On and after the Amendment Effective Date, all references to the Credit Agreement in each of the Loan Documents shall hereafter mean the Credit Agreement as amended by this Amendment.  Except as specifically amended hereby or otherwise agreed, the Credit Agreement is hereby ratified and confirmed and shall remain in full force and effect according to its terms.

3.2    Representations and Warranties of Loan Parties.  Each of the Loan Parties represents and warrants as follows:

(a)    It has taken all necessary action to authorize the execution, delivery and performance of this Amendment.

(b)    This Amendment has been duly executed and delivered by such Person and constitutes such Person’s legal, valid and binding obligation, enforceable in accordance with its terms, except as such enforceability may be subject to (i) bankruptcy, insolvency, reorganization, fraudulent conveyance or transfer, moratorium or similar laws affecting creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforceability is considered in a proceeding at law or in equity).

(c)    No approvals or other authorizations are required under the laws of the jurisdiction of such Loan Party’s organization with respect to the entering of this Amendment by such Loan Party or for the performance of its respective obligations hereunder, except as shall have been obtained and are in full force and effect.

(d)    The representations and warranties set forth in Article 4 of the Credit Agreement are true and correct as of the date hereof (except for those which expressly relate to an earlier date).

(e)    No event has occurred and is continuing which constitutes a Default. 

(f)    The Credit Agreement continues to create a valid security interest in, and lien upon, the Collateral of the Customer, in favor of Lender, which security interest and lien is perfected in accordance with the terms of the Credit Agreement and constitutes a valid first priority, perfected security interest in such Collateral.

(g)    The Obligations are not reduced or modified by this Amendment and are not subject to any offsets, defenses or counterclaims.

3.3    Reaffirmation of Obligations.  Each Loan Party hereby ratifies the Credit Agreement and acknowledges and reaffirms (a) that it is bound by all terms of the Credit Agreement applicable to it and (b) that it is responsible for the observance and full performance of its respective Obligations.

3.4    Loan Document.  This Amendment shall constitute a Loan Document under the terms of the Credit Agreement.

3.5    Expenses.  Customer agrees to pay all reasonable out-of-pocket costs and expenses of Lender in connection with the preparation, execution and delivery of this Amendment, including without limitation the reasonable fees and expenses of Lender’s legal counsel.

2

3.6    Further Assurances.  The Loan Parties agree to promptly take such action, upon the request of Lender, as is necessary to carry out the intent of this Amendment.

3.7    Entirety.  This Amendment and the other Loan Documents embody the entire agreement among the parties hereto and supersede all prior agreements and understandings, oral or written, if any, relating to the subject matter hereof.

3.8    Counterparts; Telecopy.  This Amendment may be executed in any number of counterparts, each of which when so executed and delivered shall be an original, but all of which shall constitute one and the same instrument.  Delivery of an executed counterpart to this Amendment by telecopy or other electronic means shall be effective as an original and shall constitute a representation that an original will be delivered.  

3.9    GOVERNING LAW.  THIS AMENDMENT SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE INTERNAL LAWS (AND NOT THE LAWS OF CONFLICTS) OF THE STATE OF NEW YORK.  

3.10    Successors and Assigns.  This Amendment shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns.

3.11    Consent to Jurisdiction; Service of Process; Waiver of Jury Trial.  The jurisdiction, service of process and waiver of jury trial provisions set forth in Sections 10.14, 10.15 and 10.21 of the Credit Agreement are hereby incorporated by reference, mutatis mutandis.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

3

  HEARTLAND PAYMENT SYSTEMS, INC.
 AMENDMENT TO CREDIT AGREEMENT

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

HEARTLAND PAYMENT SYSTEMS, INC., 
a Delaware corporation, as Customer

By: /S/ Robert H. B. Baldwin, Jr._________
Name:  Robert H. B. Baldwin, Jr.
Title:  Vice Chairman

HEARTLAND OVATION PAYROLL, INC., 
a Delaware corporation, as a Guarantor

By: /S/ David Gilbert__________________
Name:  David Gilbert
Title:  President

DEBITEK, INC., a Delaware corporation, as a Guarantor

By: /S/ Michael A. Lawler______________
Name:  Michael A. Lawler
Title:  President

HEARTLAND ACQUISITION, LLC, a Delaware limited liability company, as a Guarantor

By:  /S/ Robert H. B. Baldwin, Jr._________
Name:  Robert H. B. Baldwin, Jr.
Title:  President

EDUCATIONAL COMPUTER SYSTEMS, INC., a Pennsylvania corporation, as a Guarantor

By: /S/ Michael A. Lawler______________
Name:  Michael A. Lawler
Title:  President

EDUCATIONAL EPAYMENT SOLUTIONS L.L.C., a Pennsylvania limited liability company, as a Guarantor

By: /S/ Michael A. Lawler______________
Name:  Michael A. Lawler
Title:  President

HEARTLAND PAYMENT SOLUTIONS, INC., a Delaware corporation, as a Guarantor

By: /S/ Michael A. Lawler______________
Name:  Michael A. Lawler
Title:  President

LEAF ACQUISITION, LLC, a Delaware limited liability company, as a Guarantor

By: /S/ David Gilbert__________________
Name:  David Gilbert
Title: President

LEAF HOLDINGS, INC., a Delaware corporation, as a Guarantor

By: /S/ Sarah McCrary________________
Name:  Sarah McCrary
Title:  Chief Executive Officer

TOUCHNET INFORMATION SYSTEMS, INC.,
a Kansas corporation, as a Guarantor

By: /S/ Michael A. Lawler______________
Name:  Michael A. Lawler
Title:  President

[SIGNATURES CONTINUE ON FOLLOWING PAGE]

2

WELLS FARGO BANK, NATIONAL 
ASSOCIATION, as Lender

By: /S/ James T. King_____________
Name: James T. King
Title:  Senior Vice President

WELLS FARGO BANK, NATIONAL 
ASSOCIATION, as Sponsor Bank

By: /S/ James T. King_____________
Name: James T. King
Title:  Senior Vice President

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