Document:

ex10-65.htm

Exhibit 10.65

 

Execution Copy

 

CONSENT AND MODIFICATION OF SENIOR SUBORDINATED NOTE PURCHASE AGREEMENT AND TRANCHE B NOTES

 

This CONSENT AND MODIFICATION OF SENIOR SUBORDINATED NOTE PURCHASE AGREEMENT AND TRANCHE B NOTES (this “Modification”) is dated as of August 12, 2010 by and among INTERNATIONAL TEXTILE GROUP, INC., a Delaware corporation (the “Company”) and the Purchasers signatory hereto.  Unless otherwise specified herein, capitalized terms used in this Modification shall have the meanings ascribed to them in the Note Purchase Agreement (as hereinafter defined).

 

R E C I T A L S:

 

WHEREAS, the Company and the Purchasers are party to that certain Senior Subordinated Note Purchase Agreement, dated as of June 6, 2007 (as amended by Amendment No. 1 to Note Purchase Agreement, dated as of April 15, 2008 (“Amendment No. 1”), Amendment No. 2 to Senior Subordinated Note Purchase Agreement, dated as of December 24, 2008 (“Amendment No. 2”) and Amendment No. 3 to Senior Subordinated Note Purchase Agreement, dated as of December 22, 2009 (“Amendment No. 3”), and as otherwise amended, supplemented, restated or otherwise modified from time to time, the “Note Purchase Agreement”) pursuant to which, among other things, the Company issued and sold to the Purchasers those certain 18% Senior Subordinated Notes due 2011 in accordance with and pursuant to the terms and provisions of the Note Purchase Agreement;

 

WHEREAS, in connection with Amendment No. 3, the Company issued the Tranche B Notes to the Tranche B Purchasers (the “Existing Tranche B Notes”);

 

WHEREAS, the Company desires that the maturity date in respect of the Tranche B Notes be extended from June 6, 2011 to June 6, 2012;

 

WHEREAS, the Company also desires to issue and sell additional Tranche B Notes to the Tranche B Purchasers in an aggregate principal amount not to exceed $15,000,000 at a purchase price equal to 100% of the principal amount thereof (the “New Tranche B Notes”), the proceeds of which will be used to make an investment in ITG – Phong Phu Joint Venture Company;

 

WHEREAS, for good and valuable consideration, the Purchasers are willing to consent to the extension of the maturity date in respect of the Existing Tranche B Notes and the issuance of the New Tranche B Notes, all upon the terms and conditions as hereinafter set forth;

 

NOW, THEREFORE, in consideration of the premises contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 

  

  

  

 

1              Extension of Tranche B Notes Maturity Date.  Notwithstanding anything in the Note Purchase Agreement or any of the Existing Tranche B Notes to the contrary, including, without limitation, Section 9.1 of the Note Purchase Agreement or the title and first sentence of each of the Existing Tranche B Notes, the date on which the entire outstanding principal amount of, and the interest then accrued and unpaid on, the Tranche B Notes (including each of the Existing Tranche B Notes and each of the New Tranche B Notes) shall be due and payable is hereby extended from June 6, 2011 to June 6, 2012, and each reference to the maturity date of the Tranche B Notes in each of the Note Purchase Agreement, each of the Tranche B Notes and each of the other Financing Documents is hereby deemed modified to the extent, but only to the extent, inconsistent with the foregoing extension.

 

2              Purchase of New Tranche B Notes.

 

(a)           Initial Closing.  On the date hereof, and simultaneous with the effectiveness hereof, WLR IV Parallel ESC, L.P., WLR Recovery Fund III, L.P., and WLR Recovery Fund IV, L.P. (the “WLR Purchasers”) shall collectively purchase not more than $5,000,000 of New Tranche B Notes.  On the date hereof, the Company will deliver to each WLR Purchaser the New Tranche B Notes to be purchased by such WLR Purchaser, such New Tranche B Notes to be in substantially the form attached hereto as Exhibit A (the “Form New Tranche B Note), against delivery by such WLR Purchaser to the Company of immediately available funds in the amount of the purchase price therefor (the “Initial New Tranche B Purchase”).

 

(b)           Subsequent Closings.  From time to time after the date hereof, one or more of the WLR Purchasers may collectively purchase additional New Tranche B Notes (each a “Subsequent Closing”), provided that the aggregate principal amount of New Tranche B Notes purchased at such Subsequent Closings, together with the New Tranche B Notes purchased pursuant to the Initial New Tranche B Purchase shall not exceed $15,000,000.  At each such Subsequent Closing, the Company will deliver to each WLR Purchaser the New Tranche B Notes to be purchased by such WLR Purchaser in substantially the form of the Form New Tranche B Note against delivery by such WLR Purchaser to the Company of immediately available funds in the amount of the purchase price therefor (each a “Subsequent New Tranche B Purchase”; the Initial New Tranche B Purchase and each Subsequent New Tranche B Purchase are collectively referred to herein as the “New Tranche B Purchases).

 

3             Consent to Tranche B Purchases.  Each of the Purchasers party hereto, subject to satisfaction of the conditions to effectiveness set forth in Section 5 below, hereby consent to consummation of the New Tranche B Purchases.

 

4             Representations and Warranties.

 

(a)           The execution, delivery and performance by the Company of this Modification has been duly authorized by all necessary corporate action and this Modification and the Note Purchase Agreement as Modified hereby constitute legal, valid and binding obligations of the Company enforceable against the Company in accordance with their terms;

 

(b)           Upon the effectiveness of this Modification and after giving effect hereto, no Default or Event of Default exists under the Note Purchase Agreement;

 

  

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(c)           Upon the effectiveness of this Modification and after giving effect hereto, all representations and warranties in the Note Purchase Agreement the other Financing Documents are true and correct in all material respects as of the effective date of this Modification, except for (i) any such representations and warranties which expressly relate to an earlier date and (ii) changes in circumstances which are otherwise expressly permitted pursuant to the terms of the Note Purchase Agreement;

 

(d)           Any asset held or retained by the Company or any other Credit Party as a result of or in connection with the investment by the Company in ITG – Phong Phu Joint Venture Company with the proceeds of any New Tranche B Note shall be pledged as Collateral for all purposes under the Note Purchase Agreement and the other Financing Documents.

 

(e)           No Purchaser or any other Person is receiving any additional fee, interest, premium or other compensation in any form in connection with this Modification or the Senor Amendment (as defined below).

 

5             Conditions to Effectiveness.  This Modification shall be effective on the date when the Purchasers determine that each of the following conditions have been met:

 

(a)           this Modification shall have been duly executed and delivered by the Company, each of the Tranche A Purchasers and each of the Tranche B Purchasers; and

 

(b)           the Company, the Senior Agent and the other parties thereto shall have delivered a fully executed copy of Amendment No. 20 to the Senior Credit Agreement in substantially the form attached hereto as Exhibit B (the “Senior Amendment”).

 

6             Miscellaneous.

 

6.1           Effect; Ratification.

 

(a)           Except as specifically set forth above, the Note Purchase Agreement and the other Financing Documents (including, without limitation, Amendment No. 1, Amendment No. 2 and Amendment No. 3) and all payment and performance obligations and all liens granted thereunder shall remain in full force and effect and are hereby ratified and confirmed.  Each of the Company and each of the Tranche B Purchasers agrees that the rights and obligations in respect of the Tranche B Notes, as modified hereby, and the New Tranche B Notes are and shall remain in all respects subject to the terms and provisions of the Debt Subordination Agreement.  The Company agrees that such ratification and reaffirmation is not a condition to the continued effectiveness of the Note Purchase Agreement or the other Financing Documents.

 

(b)           The execution, delivery and effectiveness of this Modification shall not operate as a waiver of any Default or Event of Default (whether or not known to any Purchaser) or any right, power or remedy of the Purchasers under the Note Purchase Agreement or any other Financing Document, nor constitute an amendment or modification of any provision of the Note Purchase Agreement or any other Financing Document, except as specifically set forth herein.  Upon the effectiveness of this Modification, each reference in the Note Purchase Agreement to “this Agreement”, “hereunder”, “hereof”, “herein” or words of similar import shall mean and be a reference to the Note Purchase Agreement as modified hereby.  The parties hereto acknowledge and agree that this Modification shall constitute a “Financing Document” for all purposes under the Note Purchase Agreement and the other Financing Documents.

 

  

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(c)           The Company acknowledges and agrees that the amendments set forth herein are effective solely for the purposes set forth herein and that the execution and delivery by the Purchasers of this Modification shall not be deemed (i) except as expressly provided in this Modification, to be a consent to any amendment, waiver or modification of any term or condition of the Note Purchase Agreement or of any other Financing Document, (ii) to create a course of dealing or otherwise obligate any Purchaser to forbear, waive, consent or execute similar amendments under the same or similar circumstances in the future, or (iii) to amend, prejudice, relinquish or impair any right of the Purchasers to receive any indemnity or similar payment from any Person or entity as a result of any matter arising from or relating to this Modification.

 

(d)           The parties hereto hereby acknowledge and agree that from and after the date hereof, each New Tranche B Note shall be considered a “Tranche B Note” and an “Initial Note” for all purposes under the Note Purchase Agreement and the other Financing Documents.

 

(e)           Each WLR Purchaser hereby makes each representation and warranty (and agrees to each covenant) set forth in Section 7 of the Note Purchase Agreement.

 

(f)           Notwithstanding anything in Section 14.5 of the Note Purchase Agreement to the contrary, with respect to the assignment, exchange, transfer, replacement or other substitution of any New Tranche B Note from and after the date hereof, only a Tranche B Note in substantially the form of Exhibit A to this Modification may be received upon such assignment, exchange, transfer, replacement or other substitution.

 

(g)           In consideration of, among other things, the modifications provided for herein, and any other financial accommodations which the Purchasers elect to extend to the Company, the Company, on its own behalf and on behalf of each Credit Party, forever waives, releases and discharges any and all claims (including, without limitation, cross-claims, counterclaims, rights of setoff and recoupment), causes of action, demands, suits, costs, expenses and damages that they now have, of whatsoever nature and kind, whether known or unknown, whether arising at law or in equity, against the Collateral Agent and any Purchaser (in their respective capacities as such) and any of their respective subsidiaries and affiliates, and each of their respective successors, assigns, officers, directors, employees, agents, attorneys and other representatives, based in whole or in part on facts, whether or not known, existing on or prior to the date of this Modification.  The provisions of this Section 6.1(g) shall survive the termination of the Note Purchase Agreement and payment in full of the Obligations.

 

6.2           Counterparts and Signatures by Fax.  This Modification may be executed in any number of counterparts, each such counterpart constituting an original but all together one and the same instrument.  Any party delivering an executed counterpart of this Modification by fax or electronic mail shall also deliver an original executed counterpart, but the failure to do so shall not affect the validity, enforceability or binding effect of this Modification.

 

  

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6.3           Severability.  In case any provision in or obligation under this Modification shall be invalid, illegal or unenforceable in any court of competent jurisdiction, the validity, legality and enforceability of the remaining provisions or obligations, or of such provision or obligation in any other jurisdiction, shall not be affected or impaired thereby.

 

6.4           GOVERNING LAW.  THIS MODIFICATION SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, AND THE RIGHTS OF THE PARTIES SHALL BE GOVERNED BY, THE LAW OF THE STATE OF NEW YORK INCLUDING SECTIONS 5-1401 AND 5-1402 OF THE GENERAL OBLIGATIONS THEREOF, BUT OTHERWISE WITHOUT REFERENCE TO THE CHOICE-OF-LAW PRINCIPLES OF THE LAW THEREOF.

 

[Signature Pages Follow]

 

  

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IN WITNESS WHEREOF, the parties hereto have executed this Modification as of the date first above written.

 

	 	

COMPANY

 

INTERNATIONAL TEXTILE GROUP, INC.

	 
	 	 	 	 
	 	
By: 

	/s/ Craig J. Hart	 
	 	Name:	Craig J. Hart	 
	 	Title:	Vice President & Treasurer	 

 

Signature Page to Consent and Modification of Note Purchase Agreement and Tranche B Notes

  

  

  

 

	 	
PURCHASERS:

 

CCP F, L.P.

	 
	 	 	 	 
	 	By:	Clearlake Capital Partners, LLC, its general partner	 
	 	 	 	 
	 	 	By:     CCG Operations, LLC, its managing member	 
	 	 	 	 
	 	
By: 

	/s/ Jose Feliciano	 
	 	Name:	Jose Feliciano	 
	 	Title:	Manager	 
	 	 	 	 
	 	 	 	 
	 	

RESERVOIR CAPITAL PARTNERS, L.P.

 

By:  RCP GP, LLC, its general partners

	 
	 	 	 	 
	 	 	 	 
	 	By:	/s/ Gregg M. Zeitlin	 
	 	Name:	Gregg M. Zeitlin	 
	 	Title:	Senior Managing Director	 
	 	 	 	 
	 	 	 	 
	 	

RESERVOIR CAPITAL INVESTMENT PARTNERS, L.P.

	 
	 	 	 	 
	 	By:	RCIP GP, LLC, its general partner	 
	 	 	 	 
	 	 	 	 
	 	By:	/s/ Gregg M. Zeitlin	 
	 	Name:	Gregg M. Zeitlin	 
	 	Title:	Senior Managing Director	 
	 	 	 	 
	 	 	 	 
	 	

RESERVOIR CAPITAL MASTER FUND II, L.P.

	 
	 	 	 	 
	 	By:	Reservoir Capital Group, L.L.C., its general partner	 
	 	 	 	 
	 	 	 	 
	 	By:	/s/ Gregg M. Zeitlin	 
	 	Name:	Gregg M. Zeitlin	 
	 	Title:	Senior Managing Director	 

 

Signature Page to Consent and Modification of Note Purchase Agreement and Tranche B Notes

  

  

  

 

	 	

WLR RECOVERY FUND IV, L.P.

	 
	 	 	 	 
	 	By:	WLR Recovery Associates IV, LLC, its 

General Partner

	 
	 	 	 	 
	 	
By: 

	/s/ David L. Wax	 
	 	Name:	David L. Wax	 
	 	Title:	Principal Member	 
	 	 	 	 
	 	 	 	 
	 	

WLR RECOVERY FUND III, L.P.

	 
	 	 	 	 
	 	By:	WLR Recovery Associates III, LLC, its General 

Partner

	 
	 	 	 	 
	 	 	 	 
	 	By:	/s/ David L. Wax	 
	 	Name:	David L. Wax	 
	 	Title:	Principal Member	 
	 	 	 	 
	 	 	 	 
	 	

WLR IV PARALLEL ESC, L.P.

	 
	 	 	 	 
	 	By:	INVESCO WLR IV Associates, LLC, its General Partner	 
	 	 	 	 
	 	 	 	 
	 	By:	/s/ David L. Wax	 
	 	Name:	David L. Wax	 
	 	Title:	Principal Member	 

 

 

Signature Page to Consent and Modification of Note Purchase Agreement and Tranche B Notesex10-10.htm

EXHIBIT 10.10

Stock Repurchase 10b5-1 Plan

THIS STOCK REPURCHASE 10b5-1 PLAN (this "Plan") is entered into on October 12, 2010 by and between Juhl Wind, Inc., a Delaware corporation (the "Corporation") and Capstone Capital Management ("Broker"), acting as agent.

WHEREAS, this Plan is entered into by and between the Corporation and Broker as the Corporation's adoption of a written plan for trading securities that complies with the requirements of Rule 10b5-1 under the Securities Exchange Act of 1934, as amended (the "Exchange Act");

WHEREAS, the board of directors of the Corporation has determined that it is in the best interests of the Corporation and its stockholders to repurchase shares of common stock of the Corporation in the open market from time to time depending on prevailing market conditions, and has instituted and publicly announced a stock repurchase program to this end (the "Repurchase Program"); and

WHEREAS, the board of directors of the Corporation has determined that it is in the best interests of the Corporation and its stockholders to repurchase shares of common stock of the Corporation in connection with the Repurchase Program pursuant to and in conformity with the provisions of Rule 10b5-1.

NOW, THEREFORE, the Corporation instructs Broker to execute the Plan as follows:

1. Certain Definitions.

(a) "Effective Date" means _______________.

(b) “ADTV” means the average daily trading volume reported for the security during the four calendar weeks preceding the week in which the Rule 10b-18 purchase is to be effected.

(c) "Authorized Daily Purchase Amount" means, for any single day, an amount equal to 25% of the ADTV (as defined in Rule 10b-18(a)(1)) of the common stock of the Corporation. In addition, Broker may purchase blocks in accordance with the “Block” exception parameters as defined in Rule 10b-18(a)(1).

(d) "Authorized Price Per Share" means $______ per share, not including the Per Share Commission (as defined in Section 4 below).

(e) "Rule 10b-18" means Rule 10b-18 adopted pursuant to the Exchange Act.

(f) "Total Plan Amount" means $200,000 of Corporation common stock.

(g) "Trading Day" means a day on which the NASDAQ Capital Market is available for regular session trading in which the shares of common stock of the Corporation trade regular way.

2. Purchase of Common Stock.  Starting on the Effective Date and until the Total Plan Amount is purchased or this Plan is otherwise terminated in accordance with Section 3 below, Broker shall purchase up to the Authorized Daily Purchase Amount on each Trading Day; provided that the purchase price for any shares of common stock repurchased pursuant to this Plan shall be equal to or less than the Authorized Price Per Share. Payment for shares of the common stock of the Corporation so purchased shall be made in accordance with normal settlement procedures.

 

  

  

  

 

3. Termination of Plan.  The Plan shall terminate on the earliest of the:

(a) close of the trading day on December 31, 2010;

(b) time at which Total Plan Amount is purchased;

(c) time that a reasonable determination is made by the Corporation or Broker that:

(i) the Plan does not comply with Rule 10b5-1 or other applicable securities laws; or

(ii) the Corporation has not, or Broker has not, complied with the Plan, Rule 10b5-1 or ther applicable securities laws; or

(d) time that the Corporation delivers to Broker written notice of its election to terminate the Plan.

4. Commission Paid to Broker.  The Corporation agrees to pay Broker $_____ in cash for each share that Broker purchases on behalf of the Corporation pursuant to this Plan (the "Per Share Commission"), which amount includes all commissions, fees and expenses payable by the Corporation to Broker for its services hereunder.

5. Compliance with Rule 10b-18.  The parties acknowledge and agree that purchases under this Plan are intended to comply with the provisions of Rule 10b-18. Broker agrees to comply with the manner of purchase requirements of paragraphs (b)(2), (b)(3) and (b)(4) of Rule 10b-18 (as set forth below) in effecting any purchase of shares of common stock of the Corporation in the open market. The Corporation agrees not to make any action that would cause any purchase in the open market not to comply with Rule 10b-18. If, and to the extent that, any of the terms of this Plan conflict with the requirements of Rule 10b-18, the requirements of Rule 10b-18 shall control.

Specifically, the conditions of repurchases under Rule 10(b)-18 include the following:

(b)(2)      Time of purchases. Rule 10b-18 purchases must not be:

(i)            The opening (regular way) purchase reported in the consolidated system;

(ii)           Effected during the 10 minutes before the scheduled close of the primary trading session in the principal market for the security, and the 10 minutes before the scheduled close of the primary trading session in the market where the purchase is effected, for a security that has an ADTV value of $1 million or more and a public float value of $150 million or more; and

(iii)          Effected during the 30 minutes before the scheduled close of the primary trading session in the principal market for the security, and the 30 minutes before the scheduled close of the primary trading session in the market where the purchase is effected, for all other securities;

(b)(3)      Price of purchases. Rule 10b-18 purchases must be effected at a purchase price that does not exceed the highest independent bid or the last independent transaction price, whichever is higher, quoted or reported in the consolidated system at the time the Rule 10b-18 purchase is effected;

(b)(4)      Volume of purchases. The total volume of Rule 10b-18 purchases effected by or for the Corporation  and any affiliated purchasers effected on any single day must not exceed 25 percent of the ADTV for that security; However, once each week, in lieu of purchasing under the 25 percent of ADTV limit for that day, the Corporation or an affiliated purchaser of the Corporation may effect one block purchase if: (i) no other Rule 10b-18 purchases are effected that day, and (ii) the block purchase is not included when calculating a security's four week ADTV under this section.

 

  

  

  

 

6. Representations and Warranties of Corporation.  The Corporation represents and warrants that:

(a) the Board of Directors of the Corporation has authorized the Corporation to enter into this Plan;

(b) as of the date hereof, the Corporation is not aware of any material nonpublic information concerning the Corporation or its securities;

(c) the Corporation intends to enter into this Plan in good faith and not part of a plan or scheme to evade compliance with the federal securities laws;

(d) while this Plan is in effect, the Corporation will not enter into any corresponding or hedging transactions with respect to the securities subject to this Plan; and

(e) the Corporation will not disclose to any Broker personnel effecting purchases under this Plan any material nonpublic information regarding the Corporation or otherwise attempt to influence purchases made under the Plan.

7. Covenants of the Corporation.  The Corporation covenants and agrees that:

(a) the Corporation will communicate all relevant information to Broker regarding its market repurchase activities, and Broker is entitled to conclusively rely on such information; provided that Broker shall be deemed to be aware of the transactions that it executes on behalf of the Corporation pursuant to this Plan; and

(b) the Corporation will inform Broker as soon as reasonably practicable of any legal or contractual restriction affecting the execution of the Plan by Broker or by the Corporation, and of the occurrence of any event that would cause the Plan to terminate or be suspended pursuant to Sections 3 or 8 of this Plan.

8. Suspension of Purchase of Common Stock.  If Broker is required to suspend purchases of shares of common stock under this Plan on a particular day for any of the following reasons:

(a) a day specified by the Plan is not a Trading Day; or

(b) trading of the shares on the OTC Bulletin Board or any national exchange, as the case may be, is suspended for any reason; or

(c) Broker cannot effect a purchase of shares due to legal, regulatory or contractual restrictions applicable to it or to the Corporation (including without limitation, Regulation M, Rule 10b-5 or Rule 10b-18);

then Broker will resume purchases in accordance with Section 2 above on the first Trading Day after the condition causing the suspension of purchases has been resolved to the satisfaction of Broker and the Corporation.

9. Amendment of Plan.  This Plan may be modified or amended only upon the written agreement of the undersigned, which agreement shall contain a representation from the Corporation that:

(a) as of the date of such amendment, the Corporation is not aware of any material nonpublic information concerning the Corporation or its securities; and

 

  

  

  

 

(b) the amendment is entered into in good faith and not part of a plan or scheme to evade compliance with the federal securities laws.

10. Entire Agreement.  This Plan constitutes the entire agreement between the parties with respect to this Plan and irrevocably replaces and supersedes all other agreements, if any, regarding the repurchase of the Corporation's common stock (except such agreements as may be necessary to cause the purchases to be made in compliance with Rule 10b-18) entered into prior to the date hereof.

11. Notices.  All notices given by the parties under this Plan shall be given in writing and delivered to the facsimile number or address listed below:

If to Broker, to:

Capstone Capital Management

Attn: ______________________

2000 Prairie Street, Suite 210

Prairie du Sac, WI   53578

Phone: 866.596.9886

Fax: 608.643.5364

Email: _____________________

If to the Corporation, to:

Juhl Wind, Inc.

Attn: John Mitola

996 190th Avenue

Woodstock, MN 56186

Phone: 877.584.5946

Email: john@juhlwind.com

With copy to:

Synergy Law Group, LLC

Attn: Bart Loethen

730 West Randolph, Suite 600

Chicago, IL 60661

Phone: 312.454.0015

Fax: 312.454.0261

Email: bart@synergylawgroup.com

12. Governing Law.  This Plan shall be governed by and construed in accordance with the internal laws of the State of Illinois.

13. Changes in Capitalization of Common Stock.  All share and price amounts in this Plan shall be adjusted automatically on a proportionate basis to take into account any stock split, reverse stock split, stock dividend or other similar transaction with respect to common stock of the Corporation or any similar change in capitalization with respect to the Corporation that occurs during the term of this Plan.

14. Counterparts.  This Plan may be signed in counterparts, each of which shall be an original. Signatures may be delivered by facsimile and any signature so delivered shall be deemed to be an original.

 

  

  

  

 

By adopting this Plan, the Corporation acknowledges that it has done so in good faith in order comply with the provisions of Rule 10b5-1.

 

	Broker:	 	 	Corporation:	 
	 	 	 	 	 
	Capstone Capital Management	 	 	Juhl Wind Inc.	 
	 	 	 	 	 
	
By: /s/

	 	 	
By: /s/ John Mitola 

	 
	
Name:

	 	 	
Name: John Mitola­­­­­­­­­­­­­­­­­­­

	 
	
Title:

	 	 	
Title: President 

	 

 

  

  

  

Amendment “A”

The parties hereto, Juhl Wind, Inc. and CapStone Investments, hereby amend certain Stock Repurchase 10b5-1 Plan entered into on or about October 12, 2010 and any amendments and/or modifications subsequently entered into, as follows:

This Amendment will replace the 3. Termination of Plan section as follows:

 

3. Termination of Plan.  The Plan shall terminate on the earliest of the:

(a) close of the trading day on March 31, 2011; 

(b) time at which Total Plan Amount is purchased;

(c) time that a reasonable determination is made by the Corporation or Broker that:

(i) the Plan does not comply with Rule 10b5-1 or other applicable securities laws; or

(ii) the Corporation has not, or Broker has not, complied with the Plan, Rule 10b5-1 or 

other applicable securities laws; or

(d) time that the Corporation delivers to Broker written notice of its election to terminate the Plan.  

 

All other terms of the Stock Repurchase 10b5-1 Plan dated October 12, 2010 and any Amendments or Modifications thereto remain the same.

 

	 	 	 	 	 
	 	 	 	 	 
	 
CapStone Investments

	 	 	 	 
	 	 	 	 	 
	
By: /s/

	 	 	 	 
	
Name: Jason Diamond

	 	 	 	 
	
Title: Principal

	 	 	 	 

 

	 	 	 	 	 
	 	 	 	 	 
	 
 
Juhl Wind, Inc.

	 	 	 	 
	 	 	 	 	 
	
By: /s/ John Mitola

	 	 	
Date: January 2011 

	 
	
Name: John Mitola

	 	 	 	 
	
Title: President

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