Document:

exv10wxvyw10

Exhibit 10(v)-10

SUPPLEMENT AGREEMENT

     THIS SUPPLEMENT AGREEMENT (this “Agreement”) dated as of July 25, 2008, is being
executed and delivered pursuant to the provisions of Section 2.24 of that certain Amended and
Restated Credit Agreement dated as of November 28, 2007, among ENERGYSOUTH, INC. and BAY GAS
STORAGE COMPANY, LTD., as Borrowers, the Lenders from time to time parties thereto, and REGIONS
BANK, as Administrative Agent for the Lenders, as amended by that certain First Amendment to
Amended and Restated Credit Agreement dated as of July 25, 2008 (as so amended, and as the same may
hereafter be further amended, restated and supplemented from time to time, the “Credit
Agreement”), by each of the existing Lenders listed on the signature pages hereto (each a
“Consenting Lender” and collectively the “Consenting Lenders”), and the Borrowers,
and accepted by the Administrative Agent. Capitalized terms used herein and not otherwise defined
herein shall have the meanings assigned to such terms in the Credit Agreement.

BACKGROUND

A. Pursuant to Section 2.24 of the Credit Agreement, the Parent Borrower has notified the
Administrative Agent that the Parent Borrower proposes to increase the Aggregate ESI Commitment
Amount under the Credit Agreement to the total amount of $225,000,000.

B. Each of the Consenting Lenders has agreed to increase its ESI Commitment by the amount specified
for such Consenting Lender on Schedule I attached to this Agreement.

C. The parties to this Agreement are entering into this Agreement for purposes of effecting the
increase in the ESI Commitments of the Consenting Lenders as contemplated by Section 2.24 of the
Credit Agreement.

     Accordingly, each of the parties to this Agreement hereby agrees as follows:

1. Each of the Consenting Lenders hereby agrees to increase the amount of its ESI Commitment to the
Parent Borrower under the Credit Agreement by the respective amount for such Consenting Lender
shown as being its “Increase in ESI Commitment” on Schedule I attached to this Agreement.
Such increase shall take effect for all purposes of the Credit Agreement on the Effective Date (as
hereinafter defined) of this Agreement.

2. Each party hereto acknowledges and agrees that the respective ESI Commitments of the Consenting
Lenders and the other ESI Lenders under the Credit Agreement are several and not joint commitments
and obligations of such ESI Lenders. After giving effect to the additional and increased ESI
Commitments as provided in this Agreement, each party further acknowledges and agrees that upon the
funding of any additional ESI Borrowings on or after the Effective Date, the outstanding principal
amounts of all ESI Commitments and the respective Percentages of the ESI Lenders are those set
forth on Schedule II.

 

 

3. Each party hereto agrees that this Agreement and the effectiveness of the increased ESI
Commitments as provided in this Agreement shall be subject to satisfaction by the Borrower of the
following conditions and requirements:

     (a) The Borrowers shall have delivered to the Administrative Agent the following in
form and substance satisfactory to the Administrative Agent:

     (i) a counterpart of this Agreement signed by the Consenting Lenders, the
Borrower and the Administrative Agent;

     (ii) a duly executed Note payable to each Consenting Lender to the extent
requested by any such Consenting Lender;

     (iii) a certificate of the Secretary or Assistant Secretary of the Parent
Borrower, attaching and certifying copies of the authorizing resolutions for the
increased ESI Commitments and any ESI Borrowings thereunder as provided in this
Agreement; and

     (iv) the favorable written opinion of Armbrecht Jackson LLP, as counsel to the
Borrowers, addressed to the Administrative Agent and each of the Lenders, and
covering such matters relating to the Borrowers and this Agreement and the
transactions contemplated herein as the Administrative Agent shall reasonably
request.

     (b) The Parent Borrower shall have paid to the Administrative Agent (i) all costs and
expenses incurred by the Administrative Agent in connection with this Agreement and the
transactions contemplated herein, including without limitation, all reasonable fees and
expenses of counsel for the Administrative Agent, and (ii) for the account of each
Consenting Lender, an upfront fee in an amount equal to 0.375% of such Consenting Lender’s
Increase in Commitment, as shown on Schedule I to this Agreement.

The date on which the foregoing conditions have been satisfied shall be the “Effective
Date” of this Agreement.

4. The Borrowers represent and warrant to the Administrative Agent and the Lenders as of the
Effective Date that (i) this Agreement has been duly authorized, executed and delivered by the
Parent Borrower, (ii) the Credit Agreement, as supplemented hereby, and the other Loan Documents
constitute the legal, valid and binding obligations of the Borrowers and the other Loan Parties
enforceable against the Borrowers and the other Loan Parties in accordance with their terms except
as may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, or similar laws
affecting the enforcement of creditors’ rights generally and by general principles of equity, (iii)
no Default or Event of Default exists, (iv) all representations and warranties of the Borrowers set
forth in the Credit Agreement are true and correct in all material respects on such date (or, if
any such representation or warranty is expressly stated to

2

 

have been made as of a specific date, as of such specific date), and (v) since the date of the most
recent financial statements of the Borrowers delivered to the Lenders pursuant to Section 5.1 of
the Credit Agreement, there has been no change which has resulted in, or could reasonably be
expected to result in, a Material Adverse Effect.

5. Except as supplemented hereby, the Credit Agreement and all other documents executed in
connection therewith shall remain in full force and effect. The Credit Agreement, as supplemented
hereby, and all rights, powers and obligations created thereby or thereunder and under the Loan
Documents and all such other documents executed in connection therewith are in all respects
ratified and confirmed.

6. This Agreement may be executed in multiple counterparts, each of which shall constitute an
original but all of which when taken together shall constitute one contract. Signature pages may
be detached from multiple separate counterparts and attached to a single counterpart so that all
signature pages are attached to the same document. Delivery of an executed counterpart by
facsimile or other electronic means shall be effective as delivery of a manually executed
counterpart of this Agreement. This Agreement, together with the applicable provisions of the
Credit Agreement, constitutes the entire agreement among the parties hereto regarding the subject
matter hereof and supersedes all prior agreements and understandings, oral or written, regarding
such subject matter.

7. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH THE LAWS OF
THE STATE OF GEORGIA.

3

 

     IN WITNESS WHEREOF, the Consenting Lenders and the Borrowers have caused this Agreement to be
duly executed and delivered by their respective authorized officers and representatives, and the
Administrative Agent, for the benefit of the Consenting Lenders, and all other Lenders under the
Credit Agreement, has caused the same to be accepted by its authorized officer, as of the day and
year first above written.

	 	 	 	 	 
	 	REGIONS BANK,

as a Consenting Lender

 	 
	 	By:  	/s/ Edward Midyett
 	 
	 	 	Name:  	Edward Midyett 	 
	 	 	Title:  	Vice President 	 
	 

[SIGNATURE PAGE TO SUPPLEMENT AGREEMENT]

 

 

	 	 	 	 	 
	 	JPMORGAN CHASE BANK, N.A.,

as a Consenting Lender

 	 
	 	By:  	/s/ Nancy R. Barwig
 	 
	 	 	Name:  	Nancy R. Barwig 	 
	 	 	Title:  	Vice President 	 
	 

[SIGNATURE PAGE TO SUPPLEMENT AGREEMENT]

 

 

	 	 	 	 	 	 	 
	 	 	ENERGYSOUTH, INC.,	 	 
	 	 	as the Parent Borrower	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Charles P. Huffman	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name: Charles P. Huffman	 	 
	 

	 	 	 	Title: Executive Vice President and
Chief Financial Officer
	 	 
	 
	 	 	 	 	 	 
	 	 	BAY GAS STORAGE COMPANY, LTD.,	 	 
	 	 	as the Subsidiary Borrower	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	EnergySouth Midstream, Inc.,	 	 
	 

	 	 	 	its sole general partner	 	 
	 
	 

	 	By:
	 	/s/ Charles P. Huffman	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name: Charles P. Huffman	 	 
	 

	 	 	 	Title: Executive Vice President and
Chief Financial Officer
	 	 

	 	 	 	 	 
	ACCEPTED THIS 25th	 	 
	DAY OF JULY, 2008:	 	 
	 
	 	 	 	 
	REGIONS BANK,	 	 
	as Administrative Agent	 	 
	 
	 	 	 	 
	By:

	 	/s/ Edward Midyett	 	 
	 

	 	 	 	 
	 

	 	Name: Edward Midyett	 	 
	 

	 	Title: Vice President	 	 

[SIGNATURE PAGE TO SUPPLEMENT AGREEMENT]

 

 

Schedule I

INCREASED ESI COMMITMENTS

	 	 	 	 	 
	Consenting Lenders	 	Increases in ESI Commitments
	Regions Bank
	 	$	15,000,000	 
	JPMorgan Chase Bank, N.A.
	 	 	15,000,000	 

TOTAL INCREASES:      $30,000,000

 

 

Schedule II

ESI LENDER COMMITMENTS AND PERCENTAGES*

	 	 	 	 	 	 	 	 	 
	 	 	ESI Commitment	 	 
	ESI Lenders	 	Amounts	 	Percentages
	Regions Bank
	 	$	60,000,000	 	 	 	26.66666667	%
	JPMorgan Chase Bank, N.A.
	 	 	65,000,000	 	 	 	28.88888889	%
	SunTrust Bank
	 	 	50,000,000	 	 	 	22.22222222	%
	Union Bank of California, N.A.
	 	 	50,000,000	 	 	 	22.22222222	%
	TOTAL
	 	$	225,000,000	 	 	 	100.00000000	%

 

			
	*	 	Upon the effectiveness of the Increases in ESI Commitments as provided in the
Supplement Agreement

 

 

GUARANTORS’ ACKNOWLEDGMENT AND AGREEMENT

     Each of the undersigned Guarantors consents to the execution and delivery by the Borrowers of
the foregoing Supplement Agreement and jointly and severally ratifies and confirms the terms of the
Subsidiary Guarantee with respect to all indebtedness now or hereafter outstanding under the Credit
Agreement as supplemented hereby and all promissory notes issued thereunder. Each of the
undersigned Guarantors acknowledges and agrees that, notwithstanding anything to the contrary
contained herein or in any other document evidencing any indebtedness of the Borrowers to the
Lenders or any other obligation of the Borrowers, or any actions now or hereafter taken by the
Lenders with respect to any obligations of the Borrowers, the Subsidiary Guarantee (i) is and shall
continue to be an absolute, unconditional, joint and several, continuing and irrevocable guarantee
of payment of all “Parent Guaranteed Obligations” and “Subsidiary Borrower Guaranteed Obligations”
to the extent and as provided therein, including without limitation, all Borrowings and Letters of
Credit made and issued under the Credit Agreement, as supplemented hereby, and (ii) is and shall
continue to be in full force and effect in accordance with its terms. Nothing contained herein to
the contrary shall release, discharge, modify, change or affect the obligations or liabilities of
any Guarantor under the Subsidiary Guarantee.

[Signature Page Follows]

 

 

	 	 	 	 	 	 	 
	 	 	GUARANTORS:	 	 
	 
	 	 	 	 	 	 
	 	 	ENERGYSOUTH MIDSTREAM, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Charles P. Huffman	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name: Charles P. Huffman	 	 
	 

	 	 	 	Title: Executive Vice President and
Chief Financial Officer
	 	 
	 
	 	 	 	 	 	 
	 	 	ENERGYSOUTH SERVICES, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Charles P. Huffman	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name: Charles P. Huffman	 	 
	 

	 	 	 	Title: Executive Vice President and
Chief Financial Officer
	 	 
	 
	 	 	 	 	 	 
	 	 	MGS MARKETING SERVICES, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Charles P. Huffman	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name: Charles P. Huffman	 	 
	 

	 	 	 	Title: Executive Vice President and
Chief Financial Officer
	 	 

[SIGNATURE PAGE TO GUARANTORS’

ACKNOWLEDGMENT AND AGREEMENT]exv10w2

Exhibit 10.2

COGNEX CORPORATION

STOCK OPTION AGREEMENT (NON-QUALIFIED)

UNDER 2007 STOCK OPTION AND INCENTIVE PLAN

AGREEMENT
entered into as of [date],
by and between COGNEX CORPORATION, a Massachusetts
corporation (the “Company”) and the undersigned employee, director or consultant of the Company or
one of its subsidiaries (the “Optionee”).

Recitals:

	1.	 	The Company desires to afford the Optionee an opportunity to purchase shares of its common
stock ($0.002 par value) (“Shares”) to carry out the purposes of the Cognex Corporation 2007
Stock Option and Incentive Plan (the “Plan”).
	 
	2.	 	Section 2(d) of the Plan provides that each option is to be evidenced by an option agreement,
setting forth the terms and conditions of the option.

ACCORDINGLY, in consideration of the premises and of the mutual covenants and agreements contained
herein, the Company and the Optionee hereby agree as follows:

	1.	 	Grant of Option

The Company hereby grants to the Optionee a non-qualified stock option (the “Option”) to purchase
all or any part of an aggregate of [number] Shares on the terms and conditions hereinafter set
forth, and the terms and conditions set forth in the Plan.

	2.	 	Purchase Price

The purchase price (“Purchase Price”) for the
Shares covered by the Option shall be
$[       ]

	3.	 	Time and Manner of Exercise of Option
	 
	3.1	 	The Option shall not be exercisable prior to [date]. Thereafter, the Option shall only be
exercisable, in the amounts and on or after the vesting dates as follows:

	 	 	 
	 	 	Shares
	 	 	Becoming Available
	On or After	 	for Exercise
	 
	 	 
	 
	 	 
	 
	 	 
	 
	 	 
	 
	 	 
	 
	 	 

 

 

	 	 	 
	STOCK OPTION AGREEMENT (NON-QUALIFIED)

	 	PAGE 2

	 	 	Notwithstanding the foregoing, the Option shall not be exercisable until such time that the
Optionee and the Company have duly executed all of the agreements required at the time of
grant of the Option by the Company for 1) full-time employment by the Company, if the
Optionee is an employee of the Company, including, but not limited to, the Company’s
Employee, Invention, Non-Disclosure and Non-Competition Agreement, or 2) consultancy by the
Company, if the optionee is a consultant to the Company, including, but not limited to, the
Company’s Consultant Agreement, or 3) directorship of the Company, if the Optionee is a
director of the Company, including, but not limited to, the Company’s Confidentiality and
Non-Competition Agreement.
	 
	 	 	[Included for Directors/Chief Financial Officer: In the event of a corporate transaction,
including a merger or reorganization, whereby the holders of the outstanding shares of
common stock of the Corporation before the transaction fail to have a beneficial interest
of 51 percent or more of the shares of outstanding common stock of the Corporation or its
successor (or its ultimate parent) after the consummation of the transaction, all your
outstanding options to acquire shares of common stock of the Corporation shall become
vested and fully exercisable immediately prior to the consummation of the transaction.]
	 
	 	 	[Included for Other Executive Officers: In the event of a corporate transaction, including
a merger or reorganization, whereby the holders of the outstanding shares of common stock
of the Corporation before the transaction fail to have a beneficial interest of 51 percent
or more of the shares of outstanding common stock of the Corporation or its successor (or
its ultimate parent) after the consummation of the transaction, and within 12
months of the consummation of the transaction, your employment is involuntarily terminated,
all your outstanding options to acquire shares of common stock of the Corporation shall
become immediately vested and fully exercisable. For purposes hereof, your employment is
considered to be involuntarily terminated if the Corporation or its successor terminates
your employment without Cause or you resign your employment for Good Reason. The term
“Cause” shall mean (i) your willful and continued failure to perform substantially your
duties with the Corporation (other than any failure resulting from incapacity due to
physical or mental illness), after a written demand of performance is delivered to you by
the Board or the Chief Executive Officer of the Corporation which identifies the manner in
which the Board or Chief Executive Officer believes that you have not substantially
performed your duties; or (ii) your willful engagement in illegal conduct or gross
misconduct which is materially injurious to the Corporation. The term “Good Reason”’ shall
mean (i) a material diminution in your duties or responsibilities, excluding for this
purpose any diminution related solely to the Corporation ceasing to be a reporting company
for purposes of the Securities Exchange Act of 1934, or (ii) the Corporation’s requiring
you to be based at any office or location that is more than fifty (50) miles from your
current office.]
	 
	3.2	 	To the extent that the right to exercise the Option has accrued and is in effect, the Option
may be exercised in full at one time or in part from time to time, by giving written notice,
signed by the person or persons exercising the Option, to the Company, stating the number of
Shares with respect to which the Option is being exercised, accompanied by payment in full of
the Purchase Price for such Shares, which payment may, at the Optionee’s request and in the
Company’s sole discretion, be in whole or in part in shares of the common stock of the Company
already owned by the person or persons exercising the Option, valued at fair market value. If
such stock is traded on the NASDAQ Global Select Market System, the price shall be the last
reported sale price of the stock reported by NASDAQ on such date or if no stock is traded on
such date the next preceding date on which stock was traded. The Option may also be exercised
by means of a broker-assisted cashless exercise method contemplated by Section 5(e)(iii) of
the Plan.
	 
	3.3	 	The Company shall at all times during the term of the Option reserve and keep available
such number of shares of its common stock as will be sufficient to satisfy the requirements
of the Option, shall pay all original issue and transfer taxes with respect to the issue and
transfer of Shares pursuant hereto, and all other fees and expenses necessarily incurred by
the Company in connection therewith. The holder of this Option shall not have any of the
rights of a stockholder of the Company in respect of the Shares until one or more
certificates for such Shares shall be delivered to him upon the due exercise of the Option.
	 
	3.4	 	Optionee agrees that he/she will not claim, now or at any time in the future, whether
during Optionee’s affiliation with the Company (i.e. during Optionee’s employment if an
employee, or during Optionee’s consultancy engagement if a consultant, or during Optionee’s
tenure as a director if a director of Company) or after such affiliation has terminated
(either voluntarily or involuntarily and whether with or without cause), that Optionee should
be entitled to exercise any of the then remaining unvested shares prior to the vesting dates
for any reason, including, but not limited to, any claim for services, contributions or
efforts made by Optionee on behalf of Cognex during his/her affiliation with Cognex.
	 
	4.	 	Term of Option
	 
	4.1	 	The Option shall terminate on [date], but shall be subject to earlier termination as
hereinafter provided.
	 
	4.2	 	In the event that the Optionee ceases to be affiliated with the Company (or one of its
subsidiaries) by reason of termination of his or her employment (whether voluntary or
involuntary and whether with or without cause), consultancy or directorship, the Option may be
exercised, only to the extent then exercisable under Section 3.1 within seven (7) business
days after the date on which the Optionee ceased his or her such affiliation with the Company
unless termination (a) was by the Company for

 

 

	 	 	 
	STOCK OPTION AGREEMENT (NON-QUALIFIED)

	 	PAGE 3

	 	 	cause or was by the Optionee in breach of an employment, consulting or directorship
contract, in any of which cases the Option shall terminate immediately at the time the
Optionee ceases his or her such affiliation with the Company and shall not be exercisable,
(b) was because the Optionee has become disabled (within the meaning of Section 105(d)(4)
of the Internal Revenue Code of 1986, as amended), or (c) was by reason of the death of the
Optionee. In the case of disability, the Option may be exercised, to the extent then
exercisable under Section 3.1, at any time within twelve (12) months after the date of
termination of his or her such affiliation with the Company, but in any event prior to the
expiration of ten (10) years from the date hereof.
	 
	4.3	 	In the event of the death of the Optionee, the Option may be exercised, to the extent the
Optionee was entitled to do so on the date of his or her death under the provisions of Section
3.1 by the estate of the Optionee or by any person or persons who acquire the right to
exercise the Option by bequest or inheritance or otherwise by reason of the death of the
Optionee. In such circumstances, the Option may be exercised at any time within twelve (12)
months after the date of death of the Optionee, but in any event prior to the expiration of
ten (10) years from the date hereof.
	 
	5.	 	Transferability of Options

The right of the Optionee to exercise the Option shall not be assignable or transferable by the
Optionee otherwise than by will or the laws of descent and distribution, and the Option may be
exercised during the lifetime of the Optionee only by him, except that (i) the Optionee may
transfer the Option to the Optionee’s spouse or children or to a trust for the benefit of the
Optionee or the Optionee’s spouse or children and (ii) the Optionee may transfer the Option
pursuant to a divorce decree or other domestic relations order as defined in the Code or Title I of
the Employee Retirement Income Security Act of 1974, as amended (or the rules thereunder). The
Option shall be null and void and without effect upon any attempted assignment or transfer, except
as hereinabove provided, including without limitation, any purported assignment, whether voluntary
or by operation of law, pledge, hypothecation or other disposition contrary to the provisions
hereof, or other disposition, attachment, trustee process or similar process, whether legal or
equitable, upon the Option.

	6.	 	Severability

Each provision of this Agreement shall be treated as a separate and independent clause, and the
unenforceability of any one clause shall in no way impair the enforceability of any of the other
clauses herein. In the event that any provision hereof or any obligation or grant, or rights by
the undersigned hereunder is found invalid or unenforceable pursuant to judicial decree or
decision, any such provision, obligation, or grant of right shall be deemed and construed to extend
only to the maximum permitted by law, and the remainder of this Agreement shall remain valid and
enforceable according to its terms.

	7.	 	Withholding Taxes

Whenever Shares are to be issued upon exercise of this Option, the Company shall have the right to
require the Optionee to remit to the Company an amount sufficient to satisfy all Federal, state and
local withholding tax requirements prior to the delivery of any certificate or certificates for
such Shares.

 

 

	 	 	 
	STOCK OPTION AGREEMENT (NON-QUALIFIED)

	 	PAGE 4

	8.	 	No Special Rights

Nothing contained in the Plan or in this Agreement shall be construed or deemed by any person under
any circumstances to bind the Company to continue the affiliation of the Optionee, as either
employee or consultant or director, with the Company for the period within which this Option may
be exercised. If Optionee is an employee of the Company, he/she acknowledges the he/she is an
employee “at will” and that Company provides no guarantee or assurance of Optionee’s employment
with Company prior to or after the vesting dates contained in Section 3 above.

	9.	 	Non-Competition

The Optionee reaffirms his/her promise to be bound by the non-competition provision as stated in
the Employee Invention, Non-Disclosure and Non-Competition Agreement entered into between the
Optionee and the Company, (the “Employment Agreement”). The Optionee agrees that any pre-tax gains
realized by the Optionee pursuant to the exercise of this Option (along with other good and
valuable consideration including, but not limited to employment by the Company, salary and other
Company-provided benefits) are additional and sufficient consideration for the Optionee’s
performance of his/her non-competition obligations as stated in the Optionee’s Employment
Agreement. Optionee agrees that if he or she breaches the non-competition obligations of
Optionee’s Employment Agreement then he or she shall pay damages to the Company, including, but not
limited to an amount equal to the sum of: (a) the total of all pre-tax gains realized by Optionee
as a result of the exercise of any portion of the Option and (b) the total of all pre-tax gains
realized by Optionee as a result of the sale of any shares acquired by him/her through the exercise
of any portion of the Option.

IN WITNESS WHEREOF, the Company has caused this Agreement to be executed and its corporate seal to
be hereto affixed by Robert J. Shillman, its CEO, and President thereunto duly authorized, and the
Optionee has hereunto set his hand and seal, all as of the day and year first above written.

	 	 	 	 	 
	 	COGNEX CORPORATION

 	 
	 	By:  	 	 
	 	 	CEO, President 	 
	 	 	 	 
	 
	 	 	Optionee

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