Document:

exhibit10_43.htm

    
      

      

    

                                                                                             
      Exhibit 10.43

    

    July
      19,
      2007

    

    Mr.
      Randall Lay

    One
      Half
      Moon Isle

    Jersey
      City, NJ 07305

    

    Dear
      Randall,

    

    This
      letter is to confirm our offer and your acceptance of Chief Financial Officer
      position. Following are the terms and conditions of this offer:

    

    TITLE:                 
Chief
      Financial
      Officer

    

    BASE
      SALARY:            
$300,000.00
      per annum

    

    
      	
              ON
                PLAN BONUS:

            	
              50
                % of base salary, of which

            

    

    
      	
              ·  

            	
              75%
                will be based on actual EBITDA vs. targets set by the Board of
                Directors.

            

    

    
      	
              ·  

            	
              25%
                will be based on achievements of personal objectives as agreed between
                you
                and the CEO

            

    

    Bonus
      is
      payable following year end audit.

    Your
      2007
      Bonus is guaranteed at 50% of the amount irrespective of EBITDA results, so
      long
      as you are actively employed with Lazydays through the date of bonus
      payout.

     

    
      

        

        LONG
          TERM INCENTIVE PLAN:  The company anticipates implementing a
          Long Term Management Incentive Plan during Q4-2007 and you will be eligible
          to
          participate in that plan

    

    
      	
              BENEFITS:

            	
              As
                a key employee you are eligible for most benefits on the first of
                the
                month following your date of hire. Your eligibility for the 401K
                plan is
                the first month following 90 days of employment. Attached is a summary
                of
                benefits. You will receive a total of three weeks vacation time,
                which
                will be on a prorated basis for 2007. You will also be entitled to
                the
                paid holidays and other paid leave set forth in our Employee
                Handbook.

            

    

    

    
      	
              RELOCATION:

            	
              You
                will be reimbursed for reasonable relocation expenses as agreed between
                you and John Horton.

            

    

    

    This
      offer is contingent upon verification of employment under the provision of
      the
      Immigration Reform and Control Act of 1986. Upon reporting to work you will
      be
      required to present proper identification and documentation to support work
      eligibility status. This offer is also contingent upon your successful
      completion of the pre-employment drug screen and background/reference-checking
      process.

    

    Nothing
      in this letter is to confer any contractual right; either expressed or implied,
      to remain in the Company’s employ. Nor does it guarantee any fixed terms and
      conditions of your employment. For additional information, please refer to
      page
      1 in our Employee Handbook.

    

    We
      are
      excited about you joining the Lazydays team. Upon signing this offer, a mutually
      agreed upon start date will be determined. In the interim, if there are any
      questions regarding this offer, please contact me at 813-246-4999, extension
      4387.  Welcome aboard to the #1 RV dealer in the world!

    

    Sincerely,

    /s/
      Deborah Dube

    Director
      Human Resources

    

    

    I
      acknowledge acceptance of this offer and its conditions:

    

    /s/
      Randall Lay

    Date:
      September 1, 2007EX-10.1

SECOND AMENDMENT TO AMENDED AND RESTATED LOAN FUNDING AND SERVICING AGREEMENT

(Fairway Finance Company Transaction with Patriot Capital Funding LLC I)

THIS SECOND AMENDMENT TO THE AMENDED AND RESTATED LOAN FUNDING AND SERVICING AGREEMENT, dated
as of August 31, 2007 (this “Amendment”), is entered into by and among PATRIOT CAPITAL
FUNDING LLC I, a Delaware limited liability company, as the borrower (together with its successors
and assigns in such capacity, the “Borrower”), PATRIOT CAPITAL FUNDING, INC., a Delaware
corporation, as the servicer (together with its successors and assigns in such capacity, the
“Servicer”), FAIRWAY FINANCE COMPANY, LLC, a Delaware limited liability company, as the
conduit lender (together with its successors and assigns in such capacity, the “Conduit
Lender”), BMO CAPITAL MARKETS CORP., (f/k/a Harris Nesbitt Corp.) a Delaware corporation
(“BMO”), as the Agent (together with its successors and assigns in such capacity, the
“Agent”), and WELLS FARGO BANK, NATIONAL ASSOCIATION, a national banking association, not
in its individual capacity, but solely as the backup servicer (together with its successors and
assigns in such capacity, the “Backup Servicer”) and as the trustee (together with its
successors and assigns in such capacity, the “Trustee”). Capitalized terms used and not
otherwise defined herein shall have the meanings given to such terms in the Agreement (as defined
below).

R E C I T A L S

WHEREAS, the parties hereto entered into that certain Amended and Restated Loan Funding and
Servicing Agreement, dated as of September 18, 2006 (such agreement as amended, modified,
supplemented, waived or restated from time to time, the “Agreement”);

WHEREAS, the parties hereto desire to amend the Agreement in certain respects as provided
herein;

NOW, THEREFORE, based upon the above Recitals, the mutual premises and agreements contained
herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows:

SECTION 1. AMENDMENTS.

(a) The reference to the amount of “U.S. $140,000,000” in the cover page of the Agreement is
hereby amended by deleting such reference and substituting in its place “U.S. $175,000,000”.

(b) The reference to the amount of “$140,000,000” in Annex B of the Agreement is hereby
amended by deleting such reference and substituting in its place “$175,000,000”.

(c) Section 1.1 of the Agreement is hereby amended as follows:

(1) The definition of “Commitment Termination Date” is hereby amended by deleting the
reference to “July 23, 2009” where it appears and replacing it with “July 22, 2010”.

(2) Clause (i) of the definition of “Eligible Loan” is hereby restated in its entirety
as follows:

“(i) the Loan is evidenced by Loan Documents that have been duly authorized and that are in
full force and effect and constitute the legal, valid and binding obligation of the Obligor of such
Loan to pay the stated amount of the Loan and interest thereon, and the related Loan Documents are
enforceable against such Obligor in accordance with their respective terms;”

(3) Clause (vii) of the definition of “Eligible Loan” is hereby amended by adding the
following after the word “promissory note” in the second line of such clause: “(other than with
respect to a Noteless Loan)”.

(4) The definition of “Facility Amount” is hereby amended by deleting the reference to
“$140,000,000” where it appears and replacing it with “$175,000,000”.

(5) The definition of “Fee Letter” is hereby restated in its entirety as follows:

‘“Fee Letter”: The Third Amended and Restated Fee Letter, dated as of August 31,
2007, among the Borrower, the Servicer, the Conduit Lender and the Agent as such letter may be
amended, supplemented, modified, waived or restated from time to time.”

(6) Clause (i) of the definition of “Loan” is hereby amended by deleting the first
reference to the word “and” in the fourth line and replacing it with “,” and adding after the words
“PIK Loans” the following: “and Noteless Loans”.

(7) The definition of “Loan Documents” is hereby restated in its entirety as follows:

‘“Loan Documents”: With respect to any Loan (other than in the case of a Noteless
Loan), the related Underlying Note, and in the case of a Noteless Loan a copy of the Loan Register
with respect to such Loan (together with a copy of an executed certificate of a Responsible Officer
of the Servicer, in substantially the form of Exhibit W, certifying to the accuracy of such
Loan Register as of the date such Loan is included as part of the Collateral), and with respect to
any Loan, any related loan agreement, security agreement, mortgage, assignment of Loans, all
guarantees, note purchase agreement, intercreditor and/or subordination agreement, and UCC
financing statements and continuation statements (including amendments or modifications thereof)
executed by the Obligor thereof or by another Person on the Obligor’s behalf in respect of such
Loan and any related promissory note, including, without limitation, general or limited guaranties
and, for each Loan secured by real property by a mortgage document, an Assignment of Mortgage, and
for all Loans with an Underlying Note, an assignment (which may be by allonge), in blank, signed by
an officer of the Originator.”

(8) The following new definitions shall be added in their proper alphabetical order:

““Loan Register”: Defined in Section 7.9(r).”

““Noteless Loan”: A Loan with respect to which the Loan Documents (i) do not require
the Obligor to execute and deliver a promissory note to evidence the indebtedness created under
such Loan or (ii) do not require any holder of the indebtedness created under such Loan to
affirmatively request a promissory note from the related Obligor.”

(d) Clause (a)(vi) of Section 2.16 of the Agreement is hereby amended by adding the following
in clause (C) of the proviso after the words “promissory note”: “(other than with respect to a
Noteless Loan)”.

(e) Clause (e) of Section 3.2 of the Agreement is hereby amended by adding the following in
the third line of such clause after the words “Underlying Note”: “(other than in the case of a
Noteless Loan)”.

(f) Clause (u)(iv) of Section 4.1 of the Agreement is hereby amended by deleting the reference
to “Second” where it appears in such clause and replacing it with “Secured”.

(g) Clause (u)(ix) of Section 4.1 of the Agreement is hereby amended by adding the following
in the second line of such clause after “)”: “and Noteless Loans”.

(h) Clause (u)(x) of Section 4.1 of the Agreement is hereby amended by adding “(1)” in the
proviso of such clause before the word “with” and by adding the following before the “;” at the end
of such clause:

“and (2) with respect to any Noteless Loan to be funded with the proceeds of an Advance, the
Borrower shall have received written acknowledgment from the Trustee that the Trustee has received
a copy of the Loan Register for such Loan”.

(i) Clause (a) of Section 5.3 of the Agreement is hereby amended by adding “(A)” in the
proviso of such clause before the word “with” and by adding the following before the “.” at the end
of such proviso:

“and (B) with respect to any Noteless Loan, the Borrower shall deliver a copy of the Loan
Register for such Loan”.

(j) Section 7.9 of the Agreement is hereby amended by adding the following new clause (r):

“(r) Loan Register.

(i) The Servicer shall maintain with respect to each Noteless Loan a register (each, a
“Loan Register”) in which it will record (v) the amount of such Loan, (w) the amount of any
principal or interest due and payable or to become due and payable from the Obligor thereunder, (x)
the amount of any sum in respect of such Loan received from the Obligor, (y) the date of
origination of such Loan and (z) the maturity date of such Loan. The entries made in each Loan
Register maintained pursuant to this Section 7.9(r) shall be prima facie evidence of the
existence and amounts of the obligations therein recorded; provided, however, that
the failure of the Servicer to maintain any such Loan Register or any error therein shall not in
any manner affect the obligations of the Obligor to repay the related Loans in accordance with
their terms or any lender’s interest therein.

(ii) At any time a Noteless Loan is included as part of the Collateral pursuant to this
Agreement, the Servicer shall deliver to the Trustee a copy of the related Loan Register, together
with a copy of an executed certificate of a Responsible Officer of the Servicer, in substantially
the form of Exhibit W, certifying to the accuracy of such Loan Register as of the date such
Loan is included as part of the Collateral.”

(k) Clause (a) of Section 7.10 of the Agreement is hereby amended by adding the following
after the words “Underlying Note” in each of the three places such words appear in the third
sentence of the second paragraph of such clause: “(other than with respect to a Noteless Loan)”.

(l) Annex A and Schedule V of the Agreement are each hereby amended by deleting the address
under the reference to “Location of Loan Files” and replacing it with the following:

“Wells Fargo Bank, National Association

ABS Custody Vault

1055 10th Avenue SE

MAC N9401-011

Minneapolis, MN 55414”

(m) The Exhibits to the Agreement are amended by adding an Exhibit W in the form
attached to this Amendment.

SECTION 2. AGREEMENT IN FULL FORCE AND EFFECT AS AMENDED.

Except as specifically amended hereby, all provisions of the Agreement shall remain in full
force and effect. After this Amendment becomes effective, all references to the Agreement, the
“Loan Funding and Servicing Agreement,” “hereof,” “herein,” or words of similar effect referring to
the Agreement shall be deemed to mean the Agreement as amended hereby. This Amendment shall not
constitute a novation of the Agreement, but shall constitute an amendment thereof. This Amendment
shall not be deemed to expressly or impliedly waive, amend or supplement any provision of the
Agreement other than as expressly set forth herein.

1

SECTION 3. REPRESENTATIONS.

Each of the Borrower and Servicer represents and warrants as of the date of this Amendment as
follows:

(i) it is duly incorporated or organized, as applicable, validly existing and in good
standing under the laws of its jurisdiction of incorporation or organization, as applicable;

(ii) the execution, delivery and performance by it of this Amendment are within its
powers, have been duly authorized, and do not contravene (A) its charter, by- laws, or other
organizational documents, or (B) any Applicable Law;

(iii) no consent, license, permit, approval or authorization of, or registration,
filing or declaration with any governmental authority, is required in connection with the
execution, delivery, performance, validity or enforceability of this Amendment by or against
it;

(iv) this Amendment has been duly executed and delivered by it;

(v) this Amendment constitutes its legal, valid and binding obligation enforceable
against it in accordance with its terms, except as enforceability may be limited by
applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the
enforcement of creditors’ rights generally or by general principles of equity;

(vi) it is not in default under the Agreement; and

(vii) there is no Termination Event, Unmatured Termination Event, or Servicer
Termination Event.

SECTION 4. CONDITIONS TO EFFECTIVENESS.

This Amendment shall become effective on the date on which (i) each party hereto has delivered
an executed signature page hereto to the Agent (such date, the “Effective Date”) and (ii)
the Borrower and Servicer pay the Agent the Structuring Fee (as defined in the Fee Letter).

SECTION 5. MISCELLANEOUS.

(a) This Amendment may be executed in any number of counterparts (including by facsimile), and
by the different parties hereto on the same or separate counterparts, each of which shall be deemed
to be an original instrument but all of which together shall constitute one and the same agreement.

(b) The descriptive headings of the various sections of this Amendment are inserted for
convenience of reference only and shall not be deemed to affect the meaning or construction of any
of the provisions hereof.

(c) This Amendment may not be amended or otherwise modified except as provided in the
Agreement.

(d) The failure or unenforceability of any provision hereof shall not affect the other
provisions of this Amendment.

(e) Whenever the context and construction so require, all words used in the singular number
herein shall be deemed to have been used in the plural, and vice versa, and the masculine gender
shall include the feminine and neuter and the neuter shall include the masculine and feminine.

(f) This Amendment represents the final agreement between the parties only with respect to the
subject matter expressly covered hereby and may not be contradicted by evidence of prior,
contemporaneous or subsequent oral agreements between the parties. There are no unwritten oral
agreements between the parties.

(g) THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS AMENDMENT SHALL BE
GOVERNED BY AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

2

[Remainder of Page Intentionally Left Blank]

IN WITNESS WHEREOF, the parties have caused this Amendment to be executed by their respective
officers thereunto duly authorized, as of the date first above written.

PATRIOT CAPITAL FUNDING LLC I, as the Borrower

By:

Name:

Title:

PATRIOT CAPITAL FUNDING, INC., as the Servicer

By:

Name:

Title:

[SIGNATURES CONTINUED ON FOLLOWING PAGE]

FAIRWAY FINANCE COMPANY, LLC,

as the Conduit Lender

By:

Name:

Title:

[SIGNATURES CONTINUED ON FOLLOWING PAGE]

BMO CAPITAL MARKETS CORP., as the Agent

By:

Name:

Title:

[SIGNATURES CONTINUED ON FOLLOWING PAGE]

WELLS FARGO BANK, NATIONAL ASSOCIATION, as the Backup
Servicer and as the Trustee

By:

Name:

Title:

3

EXHIBIT W

FORM OF SERVICER’S CERTIFICATE FOR LOAN REGISTER

This certificate is delivered pursuant to the provisions of subsection 7.9(r)(ii) of the
Loan Funding and Servicing Agreement, dated as of September 18, 2006, by and among Patriot Capital
Funding LLC I, as the borrower, Patriot Capital Funding, Inc., as the servicer (the
“Servicer”), Fairway Finance Company, LLC, as the conduit lender, BMO Capital Markets
Corp., as the agent, and Wells Fargo Bank, National Association, as backup servicer and as trustee
(hereinafter as such agreement may have been, or may from time to time be amended, supplemented or
otherwise modified, the “Agreement”).

	 	A.	 	Capitalized terms used and not otherwise defined herein have the meanings
assigned them in the Agreement.

	 	B.	 	The undersigned is a Responsible Officer of the Servicer.

	 	C.	 	The undersigned hereby certifies to the Trustee that the copy of the Loan
Register and the information set forth therein delivered to the Trustee is true and
accurate in all material respects of the date hereof.

IN WITNESS WHEREOF, the undersigned has caused this certificate to be duly executed this      
day of      .

PATRIOT CAPITAL FUNDING, INC.,

as the Servicer

By:

Name:

Title:

4

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