Document:

2014Q3Exhibit106FirstAmendmentCreditAgreement

	
			
	
	Wells Fargo Bank,
National Association
	First Amendment to Credit Agreement

THIS FIRST AMENDMENT TO CREDIT AGREEMENT (this “Amendment”) entered into effective as of November 12, 2014, by and between CANCER GENETICS, INC., a Delaware corporation (“Borrower”), and WELLS FARGO BANK, NATIONAL ASSOCIATION (“Bank”).

RECITALS:

WHEREAS, Borrower is currently indebted to Bank pursuant to the terms and conditions of that certain Credit Agreement between Borrower and Bank dated as of April 1, 2014, as amended from time to time (“Credit Agreement”).

WHEREAS, Bank and Borrower have agreed to certain changes in the terms and conditions set forth in the Credit Agreement and have agreed to amend the Credit Agreement to reflect said changes. 

NOW, THEREFORE, for valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree that the Credit Agreement shall be amended as follows:

1.    Section 1.1(b) is hereby deleted in its entirety, and the following substituted therefor:

“(b)  Security Agreement.  Borrower agrees to execute and deliver to Bank a Security Agreement in form and substance satisfactory to Bank (the “Security Agreement”) pursuant to which Borrower, among other things grants Bank a first priority security interest in a Certificate of Deposit Number 8567973527 maintained with and issued by Bank, dated November 12, 2014, in the initial amount of $6,000,000.00 (“Certificate of Deposit Collateral”).”  

      2.         Section 1.3 is hereby deleted in its entirety, and the following substituted therefor:

“SECTION 1.3.    COLLATERAL.

As security for all indebtedness and other obligations of Borrower to Bank under the Revolving Line of Credit Note, Borrower hereby grants to Bank security interests of first priority in all Borrower’s Certificate of Deposit  Collateral.

All of the foregoing shall be evidenced by and subject to the terms of such security agreements, financing statements, deeds or mortgages, and other documents as Bank shall reasonably require, all in form and substance satisfactory to Bank.  Borrower shall pay to Bank immediately upon demand the full amount of all charges, costs and expenses (to include fees paid to third parties and all allocated costs of Bank personnel), expended or incurred by Bank in connection with any of the foregoing security, including without limitation, filing and recording fees and costs of appraisals, audits and title insurance.”

3.    Section 5.2 is hereby deleted in its entirety, and the following substituted therefor and effective beginning with the quarter ending September 30, 2014:

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“SECTION 5.2.     CAPITAL EXPENDITURES.  Make any additional investment in fixed assets in any fiscal year in excess of an aggregate of $1,000,000.00, excluding investment in the acquisition of all or substantially all of the fixed assets of another company provided, however, that no Capital Expenditure shall be made if any Default or Event of Default shall have occurred and be continuing at the time of the Capital Expenditure.”

4.    Upon the Borrower’s execution and delivery of the Security Agreement and this Amendment, the Securities Security Agreement and Securities Account Control Agreement both dated effective as of April 1, 2014 are terminated.

5.    Notwithstanding the execution of the Credit Agreement or any addendum thereto, or the delivery of all documents in furtherance thereof, the obligation of the Bank to make any advance on the Line of Credit and this Amendment becoming effective is subject to the fulfillment to Bank’s satisfaction of all of the following conditions:  

		
	a)
	No event of default or event which will mature into an event of default, shall have occurred and be continuing.

		
	b)
	The representations and warranties of the Borrower contained in the Loan Documents shall be true and correct as of the date of any advance on the Line of Credit.

		
	c)
	The Bank shall have received, in form and substance satisfactory to Bank, each of the following, duly executed:  

		
	i.
	This Amendment.

		
	ii.
	Certificate of Existence/Good Standing recently for Borrower certified by the Delaware Secretary of State.

		
	iii.
	Security Agreement Specific Rights to Payment from Borrower.

		
	iv.
	Such other documents as Bank may require under any other Section of this Amendment.

6.    Except as specifically provided herein, all terms and conditions of the Credit Agreement remain in full force and effect, without waiver or modification.  All terms defined in the Credit Agreement shall have the same meaning when used in this Amendment.  This Amendment and the Credit Agreement shall be read together, as one document.

7.    Borrower hereby remakes all representations and warranties contained in the Credit Agreement and reaffirms all covenants set forth therein.  Borrower further certifies that as of the date of this Amendment there exists no Event of Default as defined in the Credit Agreement, nor any condition, act or event which with the giving of notice or the passage of time or both would constitute any such Event of Default.

8.    General Release.      In consideration of the benefits provided to Borrower under the terms and provisions hereof, Borrower hereby agrees as follows (“General Release”):

(a)    Borrower, for itself and on behalf of its successors and assigns, does hereby release, acquit and forever discharge Bank, all of Bank’s predecessors in interest, and all of Bank’s past and present officers, directors, attorneys, affiliates, employees and agents, of and from any and all claims, demands, obligations, liabilities, indebtedness, breaches of contract, breaches of duty or of any relationship, acts, omissions, 

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misfeasance, malfeasance, causes of action, defenses, offsets, debts, sums of money, accounts, compensation, contracts, controversies, promises, damages, costs, losses and expenses, of every type, kind, nature, description or character, whether known or unknown, suspected or unsuspected, liquidated or unliquidated, each as though fully set forth herein at length (each, a “Released Claim” and collectively, the “Released Claims”), that Borrower now has or may acquire as of the later of:  (i) the date this Amendment becomes effective through the satisfaction (or waiver by Bank) of all conditions hereto; or (ii) the date that Borrower has executed and delivered this Amendment to Bank (hereafter, the “Release Date”), including without limitation, those Released Claims in any way arising out of, connected with or related to any and all prior credit accommodations, if any, provided by Bank, or any of Bank’s predecessors in interest, to Borrower, and any agreements, notes or documents of any kind related thereto or the transactions contemplated thereby or hereby, or any other agreement or document referred to herein or therein.

(b)    Borrower hereby acknowledges, represents and warrants to Bank that it agrees to assume the risk of any and all unknown, unanticipated or misunderstood defenses and Released Claims which are released by the provisions of this General Release in favor of Bank, and Borrower hereby waives and releases all rights and benefits which it might otherwise have under any state or local laws or statutes with regard to the release of such unknown, unanticipated or misunderstood defenses and Released Claims.

(c)    Each person signing below on behalf of Borrower acknowledges that he or she has read each of the provisions of this General Release.  Each such person fully understands that this General Release has important legal consequences, and each such person realizes that they are releasing any and all Released Claims that Borrower may have as of the Release Date.  Borrower hereby acknowledges that it has had an opportunity to obtain a lawyer’s advice concerning the legal consequences of each of the provisions of this General Release.

(d)    Borrower hereby specifically acknowledges and agrees that:  (i) none of the provisions of this General Release shall be construed as or constitute an admission of any liability on the part of Bank; (ii) the provisions of this General Release shall constitute an absolute bar to any Released Claim of any kind, whether any such Released Claim is based on contract, tort, warranty, mistake or any other theory, whether legal, statutory or equitable; and (iii) any attempt to assert a Released Claim barred by the provisions of this General Release shall subject Borrower to the provisions of applicable law setting forth the remedies for the bringing of groundless, frivolous or baseless claims or causes of action. 
    
9.    Borrower acknowledges receipt of a copy of this Amendment signed by the parties hereto.

[REMAINDER OF PAGE INTENTIONALLY BLANK]

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IMPORTANT:  READ BEFORE SIGNING.  THE TERMS OF THIS AGREEMENT SHOULD BE READ CAREFULLY BECAUSE ONLY THOSE TERMS IN WRITING ARE ENFORCEABLE.  NO OTHER TERMS OR ORAL PROMISES NOT CONTAINED IN THIS WRITTEN CONTRACT MAY BE LEGALLY ENFORCED.  YOU MAY CHANGE THE TERMS OF THIS AGREEMENT ONLY BY ANOTHER WRITTEN AGREEMENT. THIS NOTICE ALSO APPLIES TO ANY OTHER CREDIT AGREEMENTS NOW IN EFFECT BETWEEN YOU AND THIS LENDER.

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

Dated:  November 12, 2014        Dated:  November 12, 2014        

WELLS FARGO BANK,
CANCER GENTICS, INC.            NATIONAL ASSOCIATION

By:  /s/ Edward J. Sitar        By: /s/ Rebecca Gibson                     
        Edward J. Sitar, Chief Financial Officer                      Rebecca Gibson, Vice President

4BZH-9.30.2014-10K EX 10.18

Exhibit 10.18
BEAZER HOMES USA, INC.
2014 LONG-TERM INCENTIVE PLAN
EMPLOYEE AWARD AGREEMENT FOR
RESTRICTED STOCK
THIS EMPLOYEE AWARD AGREEMENT FOR RESTRICTED STOCK (this “Agreement”) is made as of September 18, 2014 by and between Beazer Homes USA, Inc., a Delaware corporation (the “Company”), and Allan P. Merrill, an individual resident of the State of Georgia (“Participant”).
WITNESSETH:
WHEREAS, the Compensation Committee (the “Committee”) of the Board of Directors (the “Board”) of the Company has approved the Company’s entering into a new Employment Agreement, dated as of September 18, 2014 (the “Employment Agreement”), with the Participant; 
WHEREAS, pursuant to Section 4(e) of the Employment Agreement, the Company agreed to grant Participant 250,000 shares of Restricted Stock under the Company’s 2014 Long-Term Incentive Plan (the “Plan”); 
NOW, THEREFORE, in consideration of the premises and of the mutual covenants contained herein and in the Employment Agreement, the parties hereby agree to the terms and conditions set forth below.  
1.AWARD OF RESTRICTED STOCK
(a)    Award; Effective Date.  The Company hereby grants to Participant, effective as of September 18, 2014 (the “Restricted Stock Effective Date”), Two Hundred Fifty Thousand (250,000) restricted Shares (as defined in the Plan), subject to the terms of the Plan and subject to such further restrictions as are set forth below.  Such restricted Shares are hereinafter referred to as “Restricted Stock.” 
(b)    Vesting; Change in Control; Restrictions.  (1) Subject in each case to the provisions of this Section 1, Participant’s rights with respect to the Restricted Stock awarded hereunder shall vest on the date (hereinafter referred to as the “Vesting Date”) which is the fourth (4th) anniversary of the Restricted Stock Effective Date, provided Participant has remained continuously employed with the Company and/or its affiliates from the Restricted Stock Effective Date until the Vesting Date.  
(i)    In the event Participant’s employment is terminated by his Retirement (as defined herein), as a result of his Disability (as defined in the Employment Agreement), or Participant dies while an employee of the 

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Company or any of its affiliates, in each case prior to the Vesting Date, then all of the Restricted Stock will vest on the date of Participant’s termination of employment by his Retirement, as a result of his Disability or the date Participant dies while an employee of the Company or any of its affiliates.
For purposes of this Agreement, “Retirement” shall mean a voluntary termination of employment by Participant at age 66 or older that occurs at least three years after the Restricted Stock Effective Date when Participant is in good standing with the Company and which is approved by the Committee.     
(ii)    In the event Participant’s employment is terminated by the Company without Cause (as defined below) prior to the Vesting Date, then the Restricted Stock will vest with respect to such number of Shares (rounded to the nearest whole Share) as equals the product of (x) the total number of Shares awarded to Participant as described in Section 1(a) hereof multiplied by (y) a fraction (not to exceed one), the numerator of which shall be equal to the number of whole months (counting each month as ending on the first day of the calendar month) elapsed from the Restricted Stock Effective Date until the date of such termination without Cause (not to exceed 48), and the denominator of which shall be 48.  
(iii)    Notwithstanding Section 1(b)(i), upon the occurrence of a Change in Control (as defined in the Plan) prior to the Vesting Date, all of the Restricted Stock will vest upon the date of the Change in Control, provided Participant has remained continuously employed with the Company and/or its affiliates from the Restricted Stock Effective Date until the date of such Change in Control.  
(iv)    Prior to vesting, the Restricted Stock shall not be voluntarily or involuntarily sold, assigned, transferred, pledged, alienated, hypothecated or encumbered by Participant, other than by will or the laws of descent and distribution. 
(v)    Prior to vesting, Participant shall have voting rights and receive dividends, if and when declared, on the Restricted Stock held by the Company on behalf of Participant. 
(c)    Forfeiture of Restricted Stock.  In the event that Participant is terminated by the Company for Cause or Participant resigns from or otherwise terminates his employment with the Company (other than as a result of (i) his Disability, (ii) death, or (iii) Retirement), prior to the Vesting Date and prior to the date of a Change in Control,  then the Restricted Stock which is held by Participant and not vested on the date of such termination shall be forfeited by 

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Participant, and the Company shall have no further obligation to Participant with respect to such forfeited Restricted Stock.   
For purposes of this Agreement, a termination by the Company without “Cause” shall have the same meaning as set forth in Section 9 of the Employment Agreement.  
(d)    Stock Certificates.  The Restricted Stock awarded hereunder shall be held in a book entry account by the Company.  Appropriate adjustments shall be made by the Company to the Restricted Stock awarded hereunder to reflect changes made by the Committee pursuant to those events described in Section 2 below.  Upon vesting of the Restricted Stock awarded hereunder, the Shares shall continue to be held in a book entry account by the Company, unless Participant requests delivery of stock certificates representing such Shares, in which case a certificate or certificates representing such Shares shall be delivered to Participant, which certificate or certificates may contain such legends as the Company, in its sole discretion, deems necessary or advisable in connection with applicable securities laws.  Such certificates shall be delivered as soon as administratively practicable, but no later than 30 days after any such request.  
2.    ADJUSTMENT OF SHARES
If there shall be any Adjustment of Shares as provided for in Section 4.3 of the Plan, then appropriate adjustments in the outstanding portion of the Restricted Stock shall be made by the Committee, the manner of such adjustments being made as provided for under the Plan.  
3.    MISCELLANEOUS
(a)    The Plan.  The award of Restricted Stock provided for herein is made pursuant to the Plan and is subject to the terms and conditions of the Plan.  The terms of this Agreement shall be interpreted in accordance with the Plan and any capitalized term used in this Agreement but not defined herein or in the Employment Agreement shall have the meaning set forth in the Plan.  The Plan is available for inspection during business hours at the principal offices of the Company (currently located at 1000 Abernathy Road, Suite 260, Atlanta, Georgia 30328), and a copy of the Plan may be obtained by Participant through a request in writing therefor directed to the Secretary of the Company.  To the extent the terms of this Agreement are inconsistent with the Plan, the terms of the Plan shall control.

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(b)    No Right to Employment.  This Agreement shall not confer on Participant any right with respect to continuance of employment by the Company or any of its affiliates, nor will it interfere in any way with the right of the Company or any of its affiliates to terminate the employment of Participant at any time for any reason. 
(c)    Taxes.  Participant shall be responsible for satisfying any income and employment tax withholding obligations attributable to participation in the Plan and the vesting of the Restricted Stock.  Participant may elect to satisfy his federal and state income and employment tax withholding obligations upon the vesting of Restricted Stock, by (i) having the Company withhold a portion of the Shares otherwise to be delivered upon the vesting of Restricted Stock having a Fair Market Value (as defined in the Plan) equal to the minimum amount of federal and state income and employment taxes required to be withheld, (ii) delivering to the Company Shares other than the Shares issuable upon the vesting of Restricted Stock with a Fair Market Value equal to such taxes, (iii) delivering to the Company cash, check (bank check, certified check or personal check), money order or wire transfer equal to such taxes upon the vesting of Restricted Stock, or (iv) any combination of Sections 3(c)(i) through (iii).  Any election to have Shares withheld must be made on or before the date that the amount of tax to be withheld is determined.  Participant may not make a Section 83(b) election with respect to the Restricted Stock awarded hereunder.
(d)    Recoupment of Incentive Compensation.  This grant of Restricted Stock shall be subject to the terms of any policy of recoupment of compensation adopted by the Company as provided for in Section 4(h) of the Employment Agreement and Participant hereby agrees to the requirements of this Section 3(d).
(e)    Waivers.  No waiver at any time of any term or provision of this Agreement shall be construed as a waiver of any other term or provision of this Agreement and a waiver at any time of any term or provision of this Agreement shall not be construed as a waiver at any subsequent time of the same term or provision. 
(f)    Headings.  All headings set forth in this Agreement are intended for convenience only and shall not control or affect the meaning, construction or effect of this Agreement or of any of the provisions hereof.  
(g)    Counterparts.  This Agreement may be executed via facsimile transmission signature and in counterparts, each of which shall be deemed to be an original but all of which together will constitute one and the same instrument.

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(h)    Committee Determinations.  The Committee shall have the discretionary authority to interpret, construe and administer the terms of this Agreement in accordance with the Plan. 
(i)    Law Governing Agreement.  This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware.

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IN WITNESS WHEREOF, the parties hereto have executed this EMPLOYEE AWARD AGREEMENT FOR RESTRICTED STOCK covering the award of Restricted Stock, dated as of the date first written above. 

BEAZER HOMES USA, INC.

By:  /s/ Brian C. Beazer_________________   
Name:   Brian C. Beazer    
Title:    Chairman

PARTICIPANT

 /s/ Allan P. Merrill_______________________
Name:  Allan P. Merrill

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