Document:

Form of Director Offer Letter

 EXHIBIT 10.71 
  
 [Form of Director Offer Letter for Robert Bylin, Thomas Pardun and Kenneth Cole] 
  
 September 16, 2004 
  
 [Name] 
 [Address] 
  
 Dear Mr.
                    : 
  
 On behalf of Occam Networks, Inc. (the “Company”), I am extremely pleased to invite you to become a member of the Company’s Board of
Directors (the “Board”). It is our belief that your skills, expertise and knowledge will prove helpful to the progress of the Company. 
  
 In connection with your service as director, the Company has agreed to grant you a non-qualified stock option entitling you to purchase up to 450,000
shares of the Company’s Common Stock (the “Director Option”). The shares issuable upon exercise of the Director Option will vest and become exercisable as follows: 25% of the shares will vest and become exercisable on the 12 month
anniversary of the commencement of your service as a director, and the remaining 75% will vest and become exercisable in 36 equal monthly installments. You will also receive additional option grants of 25,000 shares, subject to the same vesting
terms as above, each year that you serve, after the first year served. 
  
 The Director Option will be subject to the terms and conditions of the Discretionary Option Grant Program as defined in the Company’s 2000 Stock Incentive Plan (the “Plan”) and the stock option agreement evidencing the
Director Option. The exercise price per share will be equal to the fair market value of the Company’s common stock on the date of grant, as determined by the Board in accordance with the Plan. [Notwithstanding the provisions of Article II,
Section III of the Plan relating to the effect of a Corporate Transaction (as defined in the Plan) on outstanding options issued pursuant the Discretionary Option Grant Program, in the event of any such Corporate Transaction, the vesting of the
Director Option will accelerate immediately prior to the closing of such Corporate Transaction such that all shares underlying the Option will then be fully vested and exercisable (regardless of whether the Director Option is assumed by the
surviving or parent party to the Corporate Transaction).] 
  
 In
consideration of your services, effective starting your first month of service as a member of the Board, you will be paid compensation as follows: 
  

	 	a)	$4,000 per quarter, 

  

	 	b)	$1000 per meeting that you attend—this includes eight regularly scheduled Board meetings. Please note that additional meetings may be scheduled in addition to the regularly
scheduled meetings. 

  

	 	c)	$250 per meeting for ad-hoc telephonic meetings. 

  
 In accepting this offer, you are representing to us that (i) you do not know of any conflict that would restrict you from becoming a director of the
Company and (ii) you will not provide the Company with any documents, records or other confidential information belonging to any other parties. 
  
 If you wish to accept this offer, please sign below and return the fully executed letter to us. You should keep one copy of this letter for your own
records. 
  
 We are looking forward to having you join us at the
Company. We believe that your enthusiasm and past experience will be an asset to the Company and that you will have a positive impact on the organization. If you have any questions, please call me at (805) 692-2995. 

 Sincerely, 
  
 On behalf of the Board of Directors of Occam Networks, Inc. 
  

	
	
	 
	 Bob Howard-Anderson
 President &
CEO

  

	
	ACCEPTED AND AGREED TO THIS
	
	                                   day
of                                   , 2004
	
	 

  

 -2-Second Amendment and Waiver of Financial Agreement

 Exhibit 10.1 
  
 SECOND AMENDMENT OF FINANCING AGREEMENT 
  
 THIS SECOND AMENDMENT OF THE FINANCING AGREEMENT, dated as of September 19, 2005 (this “Amendment”), is by
and among each of the lenders that from time to time is a party hereto (such lenders, each individually a “Lender” and collectively, the “Lenders”), Fortress Credit Corp., as administrative agent for the Lenders (in
such capacity, together with its successors and assigns, if any, for the benefit of the Agents and the Lenders in such capacity, the “Administrative Agent”), Fortress Credit Corp., as collateral agent (in such capacity, together
with its successors and assigns, if any, in such capacity, the “Collateral Agent”, and together with the Administrative Agent, each an “Agent” and collectively the “Agents”) and Modtech Holdings,
Inc., a Delaware corporation (the “Parent” or “Borrower”). 
  
 RECITALS: 
  
 WHEREAS, the
parties hereto are parties to that certain Financing Agreement dated as of February 25, 2005 as amended by the First Amendment and Waiver, dated as of August 5, 2005 (as so amended, the “Financing Agreement”); 
  
 WHEREAS, the Borrower has requested that the Lenders amend certain provisions
of the Financing Agreement and the Lenders, subject to the terms and conditions set forth herein, are willing to grant such requests; 
  
 NOW, THEREFORE, in consideration of the premises and of the mutual covenants herein contained, the parties hereto agree as follows: 
  
 SECTION 1. Defined Terms. Unless otherwise defined herein, all
capitalized terms used herein shall have the meanings given them in the Financing Agreement. 
  
 SECTION 2. Amendments to the Financing Agreement. The Financing Agreement is, as of the Second Amendment Effective Date (as defined below), hereby amended as follows: 
  
 1. Section 1.01 of the Financing Agreement (Definitions) is
hereby amended by adding the following new definitions thereto in their appropriate alphabetical order: 
  
 “Second Amendment Effective Date” shall mean the date on which all of the conditions precedent set forth in Section 3 thereof are
satisfied. 
  
 2. The definition of
“Borrowing Base” appearing in Section 1.01 of the Financing Agreement (Definitions) is hereby amended by deleting clause (E) thereof in its entirety and replacing it with the following: 
  
 “(E) 100% of an amount equal to cash on the Borrower’s balance
sheet, provided that such cash is Qualified Cash and in no event shall exceed $5,000,000. 

 3. Section 2.02(b) of the Financing Agreement (Making the Loans) is hereby amended by
deleting the last sentence thereof in its entirety and replacing it with the following: 
  
 “No more than two Notices of Borrowing may be given within any five consecutive Business Day period.” 
  
 4. Section 2.05(c) of the Financing Agreement (Mandatory Prepayments) is hereby amended by adding the following new subsection as follows:

  
 “(viii) The Borrower will immediately prepay the
Revolving Loans and their outstanding Reimbursement Obligations at any time when the aggregate amount of Qualified Cash of the Loan Parties and their Subsidiaries exceeds $5,000,000. 
  
 Section 7.01(a)(vi) (Reporting Requirements) is hereby amended by adding the following new subsection to the end thereof as
follows: 
  
 “(F) on each Business Day, a written report of
all Qualified Cash, checks and similar items of payment of the Loan Parties and their Subsidiaries as of the end of such Business Day for such Business Day, in such form and detail as is reasonably acceptable to the Administrative Agent;”

  
 Section 7.02(t) (Excess Cash) is hereby amended by adding the
following new sentence to the end thereof as follows: 
  
 “Accumulate or maintain Qualified Cash in excess of $5,000,000; provided however, that the Loan Parties may maintain Qualified Cash in excess of $5,000,000 solely to the extent such Loan Parties have first complied with Section
2.05(c)(viii) such that no Revolving Loans and Reimbursement Obligations shall then be outstanding.” 
  
 5. Exhibit E (Borrowing Base Certificate) is hereby amended and restated in its entirety in the form attached to Annex A hereto.

  
 SECTION 3. Conditions Precedent to Effectiveness of
Amendment. This Amendment shall become effective upon the date (the “Second Amendment Effective Date”) when each of the following conditions have been satisfied: 
  
 1. Execution of Amendment. Borrower and each Lender shall have executed and delivered this Amendment
(whether the same or different counterparts). 
  
 2. Revolving Loan Payment. On or before the Second Amendment Effective Date, the Borrower shall have applied all Qualified Cash of the Loan Parties in excess of $5,000,00 to the repayment of the Revolving Loans. 
  
 3. Amendment Fee. On or prior to the Second Amendment
Effective Date, the Borrower shall pay to the Administrative Agent for the account of the Lenders, a non-refundable fee (the “Amendment Fee”) equal to $150,000, which shall be deemed fully earned on the Second Amendment Effective
Date. 
  

 - 2 - 

 4. Representations and Warranties. Borrower shall have delivered an officer’s
certificate of an Authorized Officer certifying that the matters set forth Section 4 are true, correct and complete. 
  
 SECTION 4. Representations and Warranties of Borrower. Borrower represents and warrants to the Lenders that the following statements are true,
correct and complete as follows: 
  
 1. The
representations and warranties contained in Section 6.01 of the Financing Agreement are true and correct in all material respects at and as of the date hereof as though made on and as of the date hereof. 
  
 2. Before and after giving effect to this Amendment, no
Event of Default or Default is continuing. 
  
 3.
The execution, delivery and performance of this Amendment has been duly authorized by all necessary action on the part of, and duly executed and delivered by, the Borrower and this Amendment is a legal, valid and binding obligation of the Borrower
enforceable against the Borrower in accordance with its terms, except as the enforcement thereof may be subject to the effect of any applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights
generally and general principles of equity (regardless of whether such enforcement is sought in a proceeding in equity or at law). 
  
 4. The execution, delivery and performance of this Amendment and the fulfillment of and compliance with the respective terms hereof by the
Borrower does not and will not (a) conflict with or result in a breach of any term, condition or provision of or (b) require any authorization, consent, approval, exemption or other action by or notice to any Governmental Entity or any other Person
pursuant to the Certificate of Incorporation or bylaws or memorandum and articles of association of Borrower, or any Law, statute, rule or regulation to which Borrower is subject, or any agreement to which Borrower is subject (other than those which
have been obtained on or prior to the date hereof). 
  
 5. Borrower has obtained all necessary corporate, governmental, regulatory and other third party consents and approvals required in connection with its execution, delivery and performance of this Amendment and any other documents to be
executed by Borrower pursuant hereto. 
  
 6. As
of September 19, 2005, the Loan Parties and their Subsidiaries have $5,000,000 in Qualified Cash. 
  
 SECTION 5. References to and Effect on the Financing Agreement. 
  
 1. On and after the Second Amendment Effective Date each reference in the Financing Agreement to “this
Agreement,” “hereunder,” “hereof,” “herein,” or words of 

  

 - 3 - 

 
like import, and each reference to the Financing Agreement in the other documents (the “Ancillary Documents”) delivered in connection with
the Financing Agreement shall mean and be a reference to the Financing Agreement as amended hereby. 
  
 2. Except as specifically amended above, the Financing Agreement and all other Ancillary Documents shall remain in full force and effect
and are hereby ratified and confirmed. 
  
 3. The
execution, delivery and effectiveness of this Amendment shall not, except as expressly provided herein, operate as a waiver of any right, power or remedy of the holders of Loans under the Financing Agreement or the Ancillary Documents. 

 
 4. This Amendment shall be binding on the Borrower and
the Lenders and shall inure to the benefit of the Borrower and the Lenders and the successors and assigns of the Lenders. 
  
 SECTION 6. Expenses. Borrower agrees to reimburse the Lenders upon demand for all expenses, reasonable fees of attorneys, and reasonable legal
expenses, reasonably incurred by the Lenders in the review, preparation, negotiation and execution of this Amendment and any other document required to be furnished herewith, and in enforcing the obligations of the Borrower hereunder, which
obligations of the Borrower shall survive any termination of the Financing Agreement. 
  
 SECTION 7. Execution in Counterparts. This Amendment may be executed in counterparts, each of which when so executed and delivered shall be deemed to be an original and all of which taken together shall
constitute but one and the same instrument. This Amendment shall be binding upon the respective parties hereto upon the execution and delivery of this Amendment by the Borrower and the Lenders. Delivery of an executed counterpart of a signature page
of this Amendment by facsimile transmission shall be effective as delivery of a manually executed counterpart of this Amendment. 
  
 SECTION 8. Release. Borrower does hereby release and forever discharge each of the Lenders and each affiliate thereof and each of their respective
employees, officers, directors, trustees, agents, attorneys, successors, assigns or other representatives from any and all claims, demands, damages, actions, cross-actions, causes of action, costs and expenses (including legal expenses), of any kind
or nature whatsoever, whether based on law or equity, which any of said parties has held or may now or in the future own or hold, whether known or unknown, for or because of any matter or thing done, omitted or suffered to be done on or before the
actual date upon which this Amendment is signed by any of such parties (i) arising directly or indirectly out of the Financing Agreement or any other documents, instruments or any other transactions relating thereto and/or (ii) relating directly or
indirectly to all transactions by and between the Borrower or its representatives and each Lender or any of their respective directors, officers, agents, employees, attorneys or other representatives. Such release, waiver, acquittal and discharge
shall and does include, without limitation, any claims of usury, fraud, duress, misrepresentation, lender liability, control, calling of the Financing Agreements into default, exercise of remedies and all similar items and claims, which may, or
could be, asserted by the Borrower. 
  

 - 4 - 

 SECTION 9. Governing Law. THIS AMENDMENT SHALL BE GOVERNED BY, AND BE CONSTRUED AND INTERPRETED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 
  
 SECTION 10.
Headings. Section headings in this Amendment are included herein for convenience of reference only and shall not constitute a part of this Amendment for any other purposes. 
  
 *    *    *    *    * 
  

 - 5 - 

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

			
	 MODTECH HOLDINGS, INC.

		
	 By:
	 	 /s/ Dennis L. Shogren

	 Its:
	 	 Chief Financial Officer

	
	 FORTRESS CREDIT CORP.

		
	 By:
	 	 /s/ Constantine Dakolias

	 Its:
	 	 Chief Credit Officer

	
	 ABLECO FINANCE LLC, ON BEHALF
 OF ITSELF AND ITS AFFILIATE
 ASSIGNEES

		
	 By:
	 	 Illegible

	 Its:
	 	 SVP

 Annex A 
  
 Form of Exhibit E 
  
 [Date] 
  
 Fortress Credit Corp., 
 as administrative agent under the below-referenced 
 Financing Agreement 
 1251 Avenue of the Americas 
 16th Floor New York, NY 10029 
 Attention: Mr. Ken Sands 
  
 The undersigned, the Chief Financial Officer of Modtech Holdings, Inc., a Delaware
corporation (the “Administrative Borrower”), pursuant to Section 7.01(a)(vi)(C) of that certain Financing Agreement, dated as of February 25, 2005 (as amended, restated, modified or supplemented, from time to time, the
“Financing Agreement”), entered into by and among the Administrative Borrower, each subsidiary of the Administrative Borrower listed as a “Borrower” on the signature pages thereto (together with the Administrative
Borrower, each a “Borrower” and collectively, the “Borrowers”), each of the lenders that from time to time is a party thereto (such lenders, each individually a “Lender” and collectively, the
“Lenders”) and Fortress Credit Corp., as administrative agent and collateral agent for the Lenders (in such capacities, the “Agent”), hereby certifies, as an officer of the Administrative Borrower and not in his
personal capacity, to the Agent that the following items, calculated in accordance with the terms and definitions set forth in the Financing Agreement for such items are true and correct, and that the Borrowers are in compliance with and, after
giving effect to any currently requested Loans, will be in compliance with the terms, conditions, and provisions of the Financing Agreement. All initially capitalized terms used in this Borrowing Base Certificate have the meanings set forth in the
Financing Agreement unless specifically defined herein. 
  
 Effective Date
of Calculation: [Date] 
  
 The undersigned hereby certifies that all of the
foregoing is true and correct as of the effective date of the calculations set forth above and that such calculations have been made in accordance with the requirements of the Financing Agreement. 
  

			
	 MODTECH HOLDINGS, INC.,

	 as Administrative Borrower

		
	 By:
	 	 /s/

	 Name:
	 	 
	 Title:
	 	 

 A. Borrowing Base Calculation 
  

																
	 1.
	  	Accounts Receivable:	  	 	 	 	 	 	 
	 	  	a.	  	(1)	 	Amount of Eligible Unbonded Accounts Receivable (as detailed on Schedule A.1 attached hereto and incorporated
herein by this reference):	  	$	 —  	 	 	 	 
	 	  	 	  	(2)	 	 	  	 	 	 	 	 	 
	 	  	 	  	 	 	 	  	(a) sales, excise or similar taxes included in the amount thereof	  	$	 —  	 	 	 	 
	 	  	 	  	 	 	 	  	(b) returns, discounts, chargebacks, claims, advance payments, credits and allowances of any nature, accrual rebates, offsets, deductions, counterclaims, disputes and other defense of any
nature at any time issued, owing, granted, outstanding, available or claimed with respect thereto	  	$	 —  	 	 	 	 
	 	  	 	  	 	 	 	  	(c) the applicable “Allowance for Contract Adjustment” as reasonably determined by the Borrower in accordance with GAAP	  	$	 —  	 	 	 	 
	 	  	 	  	 	 	 	  	(d) Item a(2)(a) plus a(2)(b) plus a(2)(c)	  	$	 —  	 	 	 	 
	 	  	 	  	(3)	 	Net Amount of Eligible Unbonded Accounts Receivable (Item a(1) minus Item a(2)(d)):	  	$	 —  	 	 	 	 
	 	  	 	  	(4)	 	Advance rate on Eligible Unbonded Accounts Receivable:	  	 	70	%	 	 	 
	 	  	 	  	(5)	 	Amount of Dilution Reserve, if any	  	$	 —  	 	 	 	 
	 	  	 	  	(6)	 	Item a(3) times Item a(4), minus a(5) =	  	 	 	 	 	$	—  
	 	  	b.	  	(1)	 	Amount of Eligible Bonded Accounts Receivable on Completed Projects (as detailed on Schedule A.2 attached hereto
and incorporated herein by this reference):	  	$	 —  	 	 	 	 
	 	  	 	  	(2)	 	 	  	 	 	 	 	 	 
	 	  	 	  	 	 	 	  	(a) sales, excise or similar taxes included in the amount thereof	  	$	 —  	 	 	 	 
	 	  	 	  	 	 	 	  	(b) returns, discounts, chargebacks, claims, advance payments, credits and allowances of any nature, accrual rebates, offsets, deductions, counterclaims, disputes and other defense of any
nature at any time issued, owing, granted, outstanding, available or claimed with respect thereto	  	$	 —  	 	 	 	 
	 	  	 	  	 	 	 	  	(c) the applicable “Allowance for Contract Adjustment” as reasonably determined by the Borrower in accordance with GAAP	  	$	 —  	 	 	 	 
	 	  	 	  	 	 	 	  	(d) Item b(2)(a) plus b(2)(b) plus b(2)(c)	  	$	 —  	 	 	 	 
	 	  	 	  	(3)	 	Net Amount of Eligible Bonded Accounts Receivable on Completed Projects (Item b(1) minus Item b(2)(d)):	  	$	 —  	 	 	 	 
	 	  	 	  	(4)	 	Advance rate on Eligible Bonded Accounts Receivable on Completed Projects:	  	 	75	%	 	 	 
	 	  	 	  	(5)	 	Amount of Dilution Reserve, if any	  	$	 —  	 	 	 	 
	 	  	 	  	(6)	 	Item b(3) times Item b(4), minus b(5) =	  	 	 	 	 	$	—  
	 	  	c.	  	(1)	 	Amount of Eligible Bonded Accounts Receivable on Uncompleted Projects (as detailed on Schedule A.3 attached
hereto and incorporated herein by this reference):	  	$	 —  	 	 	 	 
	 	  	 	  	(2)	 	 	  	 	 	 	 	 	 
	 	  	 	  	 	 	 	  	(a) sales, excise or similar taxes included in the amount thereof	  	$	 —  	 	 	 	 
	 	  	 	  	 	 	 	  	(b) returns, discounts, chargebacks, claims, advance payments, credits and allowances of any nature, accrual rebates, offsets, deductions, counterclaims, disputes and other defense of any
nature at any time issued, owing, granted, outstanding, available or claimed with respect thereto	  	$	 —  	 	 	 	 
	 	  	 	  	 	 	 	  	(c) the applicable “Allowance for Contract Adjustment” as reasonably determined by the Borrower in accordance with GAAP	  	$	 —  	 	 	 	 
	 	  	 	  	 	 	 	  	(d) Item c(2)(a) plus c(2)(b) plus c(2)(c)	  	$	 —  	 	 	 	 
	 	  	 	  	(3)	 	Net Amount of Eligible Bonded Accounts Receivable on Uncompleted Projects Item c(1) minus c(2)(d)):	  	$	 —  	 	 	 	 
	 	  	 	  	(4)	 	Advance rate on Eligible Bonded Accounts Receivable on Uncompleted Projects.	  	 	50	%	 	 	 
	 	  	 	  	(5)	 	Amount of Dilution Reserve, if any	  	$	 —  	 	 	 	 
	 	  	 	  	(6)	 	Item c(3) times Item c(4), minus c(5) =	  	$	 —  	 	 	 	 
	 	  	 	  	(7)	 	Uncompleted Projects Sublimit	  	$	 —  	 	 	 	 
	 	  	 	  	(8)	 	The lesser of Item 1c(6) and item 1c(7)	  	 	 	 	 	$	—  
	 2.
	  	Inventory:	  	 	 	 	 	 	 
	 	  	a.	  	Inventory: (No change from prior report due to timing.)	  	 	 	 	 	 	 
	 	  	 	  	(1)	 	Book Value of Eligible Inventory (as detailed on Schedule A.4 attached hereto and incorporated herein by this
reference):	  	$	 —  	 	 	 	 
	 	  	 	  	(2)	 	Advance rate against Eligible Inventory:	  	 	55	%	 	 	 
	 	  	 	  	(3)	 	Item a(1) times item a(2) =	  	$	 —  	 	 	 	 
	 	  	b.	  	Inventory Sublimit:	  	$	 —  	 	 	 	 
	 	  	c.	  	The lesser of Item 2a(3) and Item 2b:	  	 	 	 	 	$	—  
	 3.
	  	Cash.	  	 	 	 	 	 	 
	 	  	a.	  	Cash on Borrower’s balance sheet, which is Qualified Cash, but not Greater Than $5,000,000	  	 	 	 	 	$	—  
	 4.
	  	Total Borrowing Base	  	 	 	 	 	 	 
	 	  	a.	  	Item 1a (6) plus item 1b(6) plus item 1c(8) plus item 2c plus item 3a	  	 	 	 	 	$	—  
	 	  	Less:	  	 	 	 	 	 	 
	 5.
	  	Initial outstanding principal amount of Term Loan:	  	$	21,000,000	 	 	 	 
	 6.
	  	Aggregate amount of Reserves established by Agent pursuant to the Financing Agreement:	  	$	 —  	 	 	 	 
	 7
	  	Revolving Loan Balance	  	$	 —  	 	 	 	 
	 8.
	  	Aggregate amount, if any, of all trade payables of the Borrower and its Subsidiaries aged in excess of 45 days past due (but not including retention hold-backs for subcontractors
which coincide with the accounts receivable retention that customers of the Borrower impose on the Borrower)	  	$	 —  	 	 	 	 
	 9.
	  	Availability: Item 4(a) minus item 5. minus item 6 minus item 7 minus item 8	  	 	 	 	 	$	—

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