Document:

exv10w24

 

EXHIBIT 10.24

Digene Corporation Non-Employee Director Compensation Policy

     Under the current Non-Employee Director Compensation Policy of Digene Corporation (“Digene”),
each non-employee director is entitled to receive:

	 	•	 	an annual retainer fee of $25,000 and an additional annual retainer of $10,000 for
the Audit Committee Chair, $5,000 for the other Audit Committee members and $5,000 for
the Compensation Committee Chair;
	 
	 	•	 	a fee of $1,500 for each Board meeting attended in person, and $750 for each
in-person Board meeting attended by conference telephone;
	 
	 	•	 	a fee of $750 for each telephonic Board meeting lasting longer than thirty minutes;
	 
	 	•	 	a fee of $1,000 for each Audit or Compensation Committee meeting attended in person
other than committee meetings held on the same day as in-person Board meetings;
	 
	 	•	 	a fee of $500 for each telephonic Audit or Compensation Committee meeting lasting
longer than thirty minutes;
	 
	 	•	 	a fee of $500 for each Nominating and Corporate Governance or Compliance Committee
meeting attended in person other than committee meetings held on the same day as
in-person Board meetings;
	 
	 	•	 	a fee of $250 for each telephonic Nominating and Corporate Governance or Compliance
Committee meeting lasting longer than thirty minutes;
	 
	 	•	 	upon first joining the Board, a grant of stock options to purchase 10,000 shares of
our common stock, which will become exercisable as to 33%, 33% and 34% of the
underlying shares on the first, second and third anniversaries of the date of grant and
have a term of seven years;
	 
	 	•	 	upon first joining the Board, an award of restricted stock units with a fair market
value of $90,000 on the date of such award, which will vest as to 33%, 33% and 34% on
each of the first, second and third anniversaries of the date of grant;
	 
	 	•	 	an annual grant, to each non-employee director who will continue to serve as a
director after the annual meeting of our stockholders, of immediately exercisable stock
options to purchase 5,000 shares of our common stock;
	 
	 	•	 	an annual award, to each non-employee director who will continue to serve as a
director after the annual meeting of our stockholders, of restricted stock units with a
fair market value of $45,000 on the date of such award, which will vest on the earlier
of the date of the next annual meeting of our stockholders or the first anniversary of
the award date; and
	 
	 	•	 	reimbursement for all reasonable travel expenses incurred in connection with Board
of Directors’ meetings and meetings of committees of the Board of Directors.exv10w28

 

EXHIBIT 10.28

Fiscal 2007 Salaries of Digene Corporation Executive Officers

Set forth below are the fiscal 2007 salaries of the executive officers of Digene Corporation:

	 	 	 	 	 
	 	 	Salary for
	Name and Title
	 	Fiscal 2007
	Evan Jones

Chief Executive Officer and Chairman of the Board

	 	$	484,300	 
	 
	 	 	 	 
	Charles M. Fleischman

President, Chief Operating Officer and Chief Financial Officer

	 	$	418,500	 
	 
	 	 	 	 
	Robert McG. Lilley

Senior Vice President, Global Sales and Marketing

	 	$	389,555	 
	 
	 	 	 	 
	Attila T. Lorincz, Ph.D.

Senior Vice President and Chief Scientific Officer

	 	$	326,800	 
	 
	 	 	 	 
	Vincent J. Napoleon

Senior Vice President, General Counsel and Secretary

	 	$	270,400	 
	 
	 	 	 	 
	Belinda O. Patrick

Senior Vice President, Manufacturing Operations

	 	$	257,000	 
	 
	 	 	 	 
	Joseph P. Slattery

Senior Vice President, Finance and Information Systems

	 	$	251,300	 
	 
	 	 	 	 
	C. Douglas White

Senior Vice President Sales and Marketing — Americas and Asia
Pacific

	 	$	265,900	 
	 
	 	 	 	 
	Donna Marie Seyfried

Vice President, Business Development

	 	$	261,500exv10w15w3

 

Exhibit 10.15.03

 

FOURTH AMENDMENT TO CREDIT AGREEMENT

dated as of

September 8, 2006

among

ASHFORD HOSPITALITY LIMITED PARTNERSHIP,

as Borrower,

ASHFORD HOSPITALITY TRUST, INC.,

ASHFORD OP GENERAL PARTNER LLC,

ASHFORD OP LIMITED PARTNER LLC,

ASHFORD TRS CORPORATION,

ASHFORD TRS II LLC,

ASHFORD TRS LESSEE LLC, and

THE BORROWING BASE SUBSIDIARIES PARTY HERETO,

as Guarantors,

THE LENDERS PARTY HERETO,

and

CALYON NEW YORK BRANCH,

as Administrative Agent and Sole Lead

Arranger and Book Manager,

and

MERRILL LYNCH CAPITAL, a division of

Merrill Lynch Business Financial Services, Inc.,

as Syndication Agent

and

WACHOVIA BANK, NATIONAL ASSOCIATION,

as Documentation Agent

 

 

 

     FOURTH AMENDMENT TO CREDIT AGREEMENT dated as of September 8, 2006 (this “Amendment”),
among ASHFORD HOSPITALITY LIMITED PARTNERSHIP, a Delaware limited partnership (the
“Borrower”), the Guarantors as of the date hereof, the Lenders as of the date hereof,
CALYON NEW YORK BRANCH, as administrative agent for the Lenders (in its capacity as administrative
agent for the Lenders, together with any permitted successor administrative agent, the
“Administrative Agent”) and sole lead arranger and book manager, and MERRILL LYNCH CAPITAL,
a division of Merrill Lynch Business Financial Services, Inc., as syndication agent (in such
capacity, the “Syndication Agent”).

          WHEREAS, Borrower, Guarantors, Administrative Agent, Syndication Agent, Wachovia Bank,
National Association, as Documentation Agent, and Lenders are parties to that certain Credit
Agreement dated as of February 5, 2004, as modified by that certain (i) Joinder Agreement and
Ratification dated as of March 24, 2004, (ii) Joinder Agreement and Ratification dated as of May
17, 2004, (iii) First Amendment to Credit Agreement dated as of August 17, 2004, (iv) Borrowing
Base Release Agreement dated as of September 2, 2004, (v) Joinder Agreement, Ratification and
Amendment to Credit Agreement dated as of October 1, 2004, (vi) Joinder Agreement and Ratification
dated as of January 21, 2005, (vii) letter agreement dated May 31, 2005 among the parties to the
Credit Agreement, and (viii) Second Amendment to Credit Agreement dated as of May 31, 2005, (ix)
Third Amendment to Credit Agreement dated as of August 24, 2005, (x) Joinder Agreement and
Ratification dated as of November 30, 2005 and (xi) Joinder Agreement, Ratification and Amendment
dated as of September 8, 2006 (as so modified, the “Existing Credit Agreement”) (all
capitalized terms used but not defined herein shall have the meaning set forth in the Existing
Credit Agreement); and

          WHEREAS, Borrower, Guarantors, Administrative Agent, Syndication Agent and Lenders desire to
increase the maximum amount of the credit facility, subject to the terms of the Existing Credit
Agreement, as amended hereby, to $150,000,000 and to amend certain other provisions of the Existing
Credit Agreement as set forth herein.

          NOW, THEREFORE, in consideration of the mutual conditions and agreements set forth in this
Amendment, and for good and valuable consideration, the receipt of which is hereby acknowledged,
the parties hereto hereby agree as follows:

ARTICLE I

AMENDMENT TO THE EXISTING CREDIT AGREEMENT

          SECTION 1.01. Amendments. The Existing Credit Agreement is hereby amended as
follows:

     (a) The definition of “Applicable Margin” is hereby deleted in its entirety and
replaced with the following:

     “Applicable Margin” means with respect to Loans maintained as (a) Base
Rate Loans, one and one-quarter of one percent (1.25%) per annum and

1

 

(b) LIBOR Loans, (i) one and eighty-five one-hundredths of one percent (1.85%) if
the Loan-to-NOI Ratio is greater than 7.0:1.0, (ii) one and seventy-five
one-hundredths of one percent (1.75%) if the Loan-to-NOI Ratio is greater than or
equal to 6.0:1.0 but less than or equal to 7.0:1.0, and (iii) one and sixty
one-hundredths of one percent (1.60%) if the Loan-to-NOI Ratio is less than 6.0:1.0,
in each of the foregoing cases, as confirmed by, and effective as of the date of,
the notice by the Administrative Agent to the Borrower of any adjustment delivered
pursuant to Section 5.01(e) hereof (or, if any financial statements,
computations or certificates required pursuant to Section 5.01(c) or
(e)(i) hereof are not delivered to the Administrative Agent within the time
required pursuant to said Sections, as of any date that the Administrative
Agent notifies the Borrower in writing (which notice may be by facsimile
transmission to the Borrower only) of such adjustment).”

     (b) The definition of “Maximum Revolver Amount” is hereby deleted in its entirety and
replaced with the following:

          ”‘Maximum Revolver Amount’ means $150,000,000, as such amount may be increased
from time to time in accordance with Section 2.09 hereof or reduced from time to
time in accordance with Section 2.08 hereof; provided, however, the
Maximum Revolver Amount shall at no time exceed $200,000,000.”

     (c) The definition of “Obligations” is hereby amended by deleting the text “ (i.e., the
amount of $100,000,000 as it may be increased to up to $150,000,000 pursuant to Section
2.09 hereof)” therein and replacing it with the text “(i.e., the amount of $150,000,000
as it may be increased to up to $200,000,000 pursuant to Section 2.09 hereof)”.

ARTICLE II

REPRESENTATIONS AND WARRANTIES

          Borrower and each Guarantor hereby represents and warrants to the Administrative Agent, the
Syndication Agent and the Lenders as follows:

          SECTION 2.01. Existence and Power. Each such Credit Party is duly organized, validly
existing and in good standing under the laws of its jurisdiction of organization and has all
necessary powers required to enter into this Amendment and to perform its obligations under the
Existing Credit Agreement, as amended hereby.

          SECTION 2.02. Authorization; No Contravention. The execution and delivery by each
such Credit Party of this Amendment and the performance of the Existing Credit Agreement, as
amended hereby, (a) are within its powers and have been duly authorized by all necessary action,
(b) require no action by or in respect of, or filing with, any Governmental Authority, any property
manager or other third party, (c) do not contravene, or constitute a

2

 

breach of or default under, any provision of applicable law or regulation, any of its constitutive
documents or of any judgment, injunction, order, decree, permit, license, note, mortgage, agreement
or other material instrument binding upon such Person or any of its Subsidiaries or their
respective assets and (d) do not result in the creation or imposition of any Lien on any asset of
any Credit Party or any of its Subsidiaries (except the Security Interests).

          SECTION 2.03. Binding Effect. This Amendment has been duly executed and delivered by
such Credit Party and the Existing Credit Agreement, as amended hereby, constitutes the valid and
binding agreement of each such Credit Party, in each case enforceable in accordance with their
respective terms, except as the enforceability thereof may be limited by bankruptcy, insolvency,
reorganization or moratorium or other similar laws relating to the enforcement of creditors’ rights
generally and by general equitable principles.

          SECTION 2.04. Representations and Warranties in Financing Documents. Without
limiting the foregoing, all representations and warranties of such Credit Party set forth in the
Existing Credit Agreement, as amended hereby, and the other Financing Documents, are, giving effect
to this Amendment, true and correct in all material respects as of the date hereof,
provided that any such representations and warranties that by their express terms are made
as of a specific date are true and correct in all material respects as of such specific date.

ARTICLE III

MISCELLANEOUS

          SECTION 3.01. Effectiveness of Change of Applicable Margin. The modification of the
Applicable Margin set forth in Section 1.02 hereof shall be effective only as of the date
hereof and shall not reduce or otherwise modify the amount of interest that has accrued through the
date hereof determined on the basis of the Base Rate and/or the Adjusted LIBO Rate, as applicable,
and the Applicable Margin under the Existing Credit Agreement. The portion of interest due and
payable on October 2, 2006 shall be determined on the basis of the Base Rate and/or the Adjusted
LIBO Rate, as applicable, and the Applicable Margin under the Existing Credit Agreement for the
period ending on the day immediately preceding the date hereof and on the basis of the Base Rate
and/or the Adjusted LIBO Rate, as applicable, and the Applicable Margin as modified by this
Amendment for the period commencing on the date hereof and ending on October 2, 2006. Thereafter,
the Applicable Margin shall be determined on the basis of the Applicable Margin as amended by this
Amendment.

          SECTION 3.02. Lenders’ Commitments. The Commitment of each Lender as of the date
hereof, giving effect to this Amendment, is set forth on Exhibit A attached hereto.

          SECTION 3.03. Fee. In consideration of, and as a condition precedent to, Lenders’
entering into this Amendment, Borrower shall pay to Administrative Agent for the benefit of each
Lender (pro rata share based on their Commitments) the amount of $175,000.

3

 

          SECTION 3.04. No Other Amendments. Except as amended hereby, the Existing Credit
Agreement remains unmodified. As amended hereby, the Existing Credit Agreement remains in full
force and effect. Each Credit Party ratifies and reaffirms the obligations, waivers and covenants
made under the Existing Credit Agreement, as amended hereby, and the other Financing Documents.
Without limiting the foregoing, the Guarantors acknowledge and agree that the Guaranteed
Obligations include the Obligations, as amended hereby, and that the Financing Documents remain in
full force and effect and shall secure and otherwise apply to the Guaranteed Obligations and all
other terms of the Existing Credit Agreement, as amended hereby.

          SECTION 3.05. Counterparts. This Amendment may be executed in counterparts (and by
different parties hereto on different counterparts), each of which shall constitute an original,
but all of which when taken together shall constitute a single contract. Delivery of an executed
counterpart of a signature page of this Amendment by telecopy shall be effective as delivery of a
manually executed counterpart of this Amendment.

          SECTION 3.06. Severability. Any provision of this Amendment held to be invalid,
illegal or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the
extent of such invalidity, illegality or unenforceability without affecting the validity, legality
and enforceability of the remaining provisions hereof, and the invalidity of a particular provision
in a particular jurisdiction shall not invalidate such provision in any other jurisdiction.

          SECTION 3.07. Headings, Etc. Article and Section headings used herein are for
convenience of reference only, are not part of this Amendment and shall not affect the construction
of, or be taken into consideration in interpreting, this Amendment.

          SECTION 3.08. Governing Law. This Amendment shall be governed by, and construed in
accordance with, the substantive laws of the State of New York.

          SECTION 3.09. Waiver of Trial by Jury. Each party hereto hereby expressly and
unconditionally waives any and every right either party may have to a trial by jury, in any suit,
action or proceeding brought under or with respect to this Amendment.

          SECTION 3.10. Documentation Agent. Wachovia Bank, National Association shall be the
“Documentation Agent” under the Credit Agreement. The parties hereto agree that the title
“Documentation Agent” is honorary and confers no rights or duties upon such agent.

[The remainder of this page is intentionally left blank.]

4

 

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

ASHFORD HOSPITALITY LIMITED PARTNERSHIP

By: Ashford OP General Partner LLC

       By: /S/ DAVID A. BROOKS

       Name: David A. Brooks

       Title: Vice President

ASHFORD HOSPITALITY TRUST, INC.

By: /S/ DAVID A. BROOKS

Name: David A. Brooks

Title: Secretary and Chief Legal Counsel

ASHFORD TRS CORPORATION

By: /S/ DAVD J. KIMICHIK

Name: David J. Kimichik

Title: President

ASHFORD TRS II LLC

By: /S/ DAVD J. KIMICHIK

Name: David J. Kimichik

Title: President

ASHFORD OP GENERAL PARTNER LLC

By: /S/ DAVID A. BROOKS

Name: David A. Brooks

Title: Vice President

ASHFORD OP LIMITED PARTNER LLC

By: /S/ DAVID A. BROOKS

Name: David A. Brooks

Title: Vice President

5

 

ASHFORD LAWRENCEVILLE LP

By:  Ashford Properties General Partner LLC

        By: /S/ DAVID A. BROOKS

        Name: David A. Brooks

        Title: Vice President

ASHFORD ANAHEIM LP

By:  Ashford Properties General Partner LLC

        By: /S/ DAVID A. BROOKS

        Name: David A. Brooks

        Title: Vice President

ASHFORD KENNESAW I LP

By:  Ashford Properties General Partner LLC

          By: /S/ DAVID A. BROOKS

          Name: David A. Brooks

          Title: Vice President

ASHFORD KENNESAW II LP

By:  Ashford Properties General Partner LLC

        By: /S/ DAVID A. BROOKS

        Name: David A. Brooks

        Title: Vice President

ASHFORD ATLANTIC BEACH LP

By:  Ashford Properties General Partner Sub II LLC

        By: /S/ DAVID A. BROOKS

        Name: David A. Brooks

        Title: Vice President

ASHFORD SANTA FE LP

By:   Ashford Properties General Partner LLC

        By: /S/ DAVID A. BROOKS

        Name: David A. Brooks

        Title: Vice President

6

 

ASHFORD DURHAM I LLC

By: /S/ DAVID A. BROOKS

Name: David A. Brooks

Title: Vice President

ASHFORD DURHAM II LLC

By: /S/ DAVID A. BROOKS

Name: David A. Brooks

Title: Vice President

ASHFORD FLAGSTAFF LP

By: Ashford Senior General Partner LLC

          By: /S/ DAVID A. BROOKS

          Name: David A. Brooks

          Title: Vice President

ASHFORD BWI AIRPORT LP

By: Ashford Properties General Partner Sub III LLC

          By: /S/ DAVID A. BROOKS

          Name: David A. Brooks

          Title: Vice President

ASHFORD TRS LESSEE LLC

By: /S/ DAVD J. KIMICHIK

Name: David J. Kimichik

Title: President

CALYON NEW YORK BRANCH, as Lender and as Administration Agent

By: /S/ JOSEPH A. ASCIOLLA

Name: Joseph A. Asciolla

Title: Managing Director

By: /S/ DAVID BOWERS

Name: David Bowers

Title: Managing Director

7

 

MERRILL LYNCH CAPITAL, a division of Merrill Lynch

Business Financial Services, Inc., as Lender and as

Syndication Agent

By: /S/ ANGELA M. FABUS

Name: Angela M. Fabus

Title: Vice President

WACHOVIA BANK, NATIONAL ASSOCIATION, as Lender

By: /S/ DEAN R. WHITEHILL

Name: Dean R. Whitehill

Title: Vice President

8

 

EXHIBIT A

Commitments

	 	 	 	 	 
	Lender	 	Commitment
	Calyon New York Branch:
	 	$	50,000,000	 
	 
	 	 	 	 
	Merrill Lynch, a division of Merrill Lynch
Business Financial Services, Inc
	 	$	50,000,000	 
	 
	 	 	 	 
	Wachovia Bank, National Association
	 	$	50,000,000	 

9

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00109-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00109-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00109-of-00352.parquet"}]]