Document:

EXHIBIT 10.2

 

Execution Version

 

AMENDMENT NO. 1 AND CONSENT

 

This AMENDMENT NO. 1 AND CONSENT, dated as of April 21, 2015 (this “Amendment and Consent”), by and among AXIALL CORPORATION (F/K/A GEORGIA GULF CORPORATION), a Delaware corporation (“Axiall”), EAGLE SPINCO INC., a Delaware corporation (“Spinco”, and together with Axiall, the U.S. Borrowers”), ROYAL GROUP, INC., a Canadian federal corporation (“Canadian Borrower”), GENERAL ELECTRIC CAPITAL CORPORATION (“GE Capital”), as Administrative Agent, and the Lenders party hereto under that certain Second Amended and Restated Credit Agreement, dated as of December 17, 2014 (as the same may be further amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”) by and among the U.S. Borrowers, the Canadian Borrower, the other Credit Parties party thereto, the Lenders, and the L/C Issuers from time to time party thereto, GE Capital, as Administrative Agent, Co-Collateral Agent and Co-Syndication Agent, and Wells Fargo Capital Finance, LLC, as Co-Collateral Agent and Co-Syndication Agent. Capitalized terms used but not defined in this Amendment and Consent shall have the meanings that are set forth in the Credit Agreement.

 

W I T N E S S E T H:

 

WHEREAS, pursuant to the terms of the Loan Documents, the Credit Parties have granted Liens on substantially all of their assets, including Mortgages on the Real Estate at the locations listed on Annex I attached hereto (the “Specified Properties”; the Mortgages on the Specified Properties, the “Specified Mortgages”) to the Administrative Agent, for the benefit of the Secured Parties, as collateral security for the prompt and complete payment of the Secured Obligations;

 

WHEREAS, pursuant to the terms of that certain Credit Agreement, dated as of February 27, 2015 (as the same may be further amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Term Loan Agreement”), by and among Axiall, as borrower, the several banks and other financial institutions or entities from time to time party thereto as lenders (the “Term Lenders”) and Barclays Bank PLC, in its capacity as administrative agent and collateral agent (in such capacities, the “Term Agent”), the Term Agent has not taken Mortgages on the Specified Properties;

 

WHEREAS, the Borrowers have requested consent from the Required Lenders to release the Specified Mortgages on terms and subject to the conditions herein provided;

 

NOW, THEREFORE, in consideration of the premises and the agreements, provisions and covenants herein contained, the parties hereto agree as follows:

 

SECTION 1.                                            CONSENT.

 

1.1                               Effective as of the Effective Date (as defined in Section 3 hereof) and subject to the satisfaction (or due waiver) of the conditions set forth in Section 3 (Conditions Precedent to Effectiveness) hereof, the Lenders party hereto hereby consent to the release of the Specified Mortgages and direct the Administrative Agent to release the Specified Mortgages.

 

SECTION 2.                                            AMENDMENTS.

 

2.1                               Effective as of the Effective Date and subject to the satisfaction (or due waiver) of the conditions set forth in Section 3 (Conditions Precedent to Effectiveness) hereof:

 

 

(a)                                 Clause (b)(ii) of the definition of “Canadian Borrowing Base” shall be amended and restated in its entirety to read as follows:

 

“(ii) $10,000,000 minus the amount of Designated Eligible Foreign Accounts included in the U.S. Borrowing Base under clause (b) of the definition of U.S. Borrowing Base; plus”

 

(b)                                 Clause (b)(ii) of the definition of “U.S. Borrowing Base” shall be amended and restated in its entirety to read as follows:

 

“(ii) $10,000,000 minus the amount of Designated Eligible Foreign Accounts included in the Canadian Borrowing Base under clause (b) of the definition of Canadian Borrowing Base; plus”.

 

SECTION 3.                                            CONDITIONS PRECEDENT TO EFFECTIVENESS

 

3.1                               This Amendment and Consent shall become effective as of the date hereof (the “Effective Date”) upon the following:

 

(a)                                 The Administrative Agent (or its counsel) shall have received counterparts of this Amendment and Consent duly executed by the Borrowers, the Administrative Agent and Required Lenders; and

 

(b)                                 All representations and warranties contained in Section 4 hereof shall be true and correct as of the Effective Date.

 

SECTION 4.                                            REPRESENTATIONS AND WARRANTIES

 

On and as of the Effective Date, after giving effect to this Amendment and Consent and the transactions contemplated hereby, each Borrower party hereto represents and warrants, on behalf of itself and each other Credit Party, to the Administrative Agent and the Lenders, that the following statements are true and correct:

 

4.1                               Corporate Power and Authority.  Each Borrower has all requisite power and authority to (a) enter into this Amendment and Consent and to carry out the transactions contemplated hereby and (b) perform its obligations under each Loan Document to which it is a party and to carry out the transactions contemplated thereby.  This Amendment and Consent has been duly executed and delivered by each Borrower and this Amendment and Consent constitutes the legal, valid and binding obligation of each Borrower, enforceable in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors’ rights generally and subject to general principles of equity regardless of whether considered in a proceeding in equity or at law.

 

4.2                               Authorization of Agreements.  The execution, delivery and performance of this Amendment and Consent and the documents contemplated hereby have been duly authorized by all necessary action on the part of each Borrower.

 

4.3                               Incorporation of Representations and Warranties from the Credit Agreement.  The representations and warranties as to each Credit Party made in Article III (Representations and Warranties) of the Credit Agreement and each of the other Loan Documents are true and correct in all material respects (without duplication of any materiality qualifier contained therein), except to the extent that such representations or warranties expressly relate to an earlier date, in which event such

 

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representations and warranties shall be true and correct in all material respects (without duplication of any materiality qualifier contained therein) as of such earlier date.

 

4.4                               Absence of Default.  Before and immediately after giving effect to this Amendment and Consent and the transactions contemplated hereby, no Default or Event of Default has occurred and is continuing or will result therefrom.

 

SECTION 5.                                            COVENANT

 

5.1                               Filing of Subsequent Mortgages. If at any time subsequent to the Effective Date, the Term Agent elects to file a Mortgage on any Specified Property, the Credit Parties shall (i) notify the Administrative Agent in writing at least ten Business Days (or such shorter period of time as the Administrative Agent may agree in its sole discretion) prior to the proposed filing date of such Mortgage and (ii) substantially concurrently with such filing, grant a second-priority Mortgage (subject to the terms of the Intercreditor Agreement) to the Administrative Agent, for the benefit of the Secured Parties, and deliver any related documentation with respect to such Specified Property contemplated by Section 4.13(b) of the Credit Agreement.  Failure to comply with this Section 5.1 shall constitute an immediate Event of Default under the Credit Agreement.

 

SECTION 6.                                            MISCELLANEOUS

 

6.1                               Ratification by Credit Parties.  Each of the Borrowers agrees and acknowledges that (i) notwithstanding the effectiveness of this Amendment and Consent, each Credit Party’s guarantee (as set forth in the Collateral Documents) shall remain in full force and effect without modification thereto and (ii) nothing herein shall in any way limit any of the terms or provisions of such Credit Party’s guarantee or any other Loan Document executed by such Credit Party (as the same may be amended from time to time), all of which are hereby ratified, confirmed and affirmed in all respects.  Each Borrower hereby further acknowledges that the Borrowers, the Administrative Agent and any Lender may from time to time enter into any further amendments, modifications, terminations and/or waivers of any provision of the Loan Documents without notice to or consent from any Credit Party and without affecting the validity or enforceability of each Credit Party’s guarantee or giving rise to any reduction, limitation, impairment, discharge or termination of such Credit Party’s guarantee.

 

6.2                               Expenses.  Borrowers agree to reimburse the Administrative Agent for its reasonable out-of-pocket expenses incurred by it in connection with this Amendment, including the reasonable fees, charges and disbursements of Weil, Gotshal & Manges LLP, counsel for the Administrative Agent.

 

6.3                               Binding Effect.  This Amendment and Consent shall be binding upon the parties hereto and their respective successors and assigns and shall inure to the benefit of the parties hereto and the successors and assigns of the Lenders.

 

6.4                               Severability.  In case any provision in or obligation hereunder shall be invalid, illegal or unenforceable in any jurisdiction, the validity, legality and enforceability of the remaining provisions or obligations, or of such provision or obligation in any other jurisdiction, shall not in any way be affected or impaired thereby.

 

6.5                               Effect on Credit Agreement.  Except as specifically amended by this Amendment and Consent, the Credit Agreement and the other Loan Documents shall remain in full force and effect and are hereby ratified and confirmed.  The parties agree that in the event of any conflict between this Amendment and Consent and the provisions of the Credit Agreement, this Amendment and Consent shall control.

 

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6.6                               No Waiver.  The execution, delivery and performance of this Amendment and Consent shall not, except as expressly provided herein, constitute a waiver of any provision of, or operate as a waiver of any right, power or remedy of the Administrative Agent or Lenders under, the Credit Agreement or any of the other Loan Documents.  This Amendment and Consent is limited to the transactions specified herein and shall not constitute an amendment or waiver of, or an indication of the Administrative Agent’s or the Lenders’ willingness to amend or waive, any other provisions of the Credit Agreement or any other Loan Documents or the same provisions for any other date or purpose.

 

6.7                               Headings.  Section headings herein are included herein for convenience of reference only and shall not constitute a part hereof for any other purpose or be given any substantive effect.

 

6.8                               APPLICABLE LAW.  THIS AMENDMENT AND CONSENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES THEREOF.

 

6.9                               Counterparts.  This Amendment and Consent may be executed in any number of counterparts, each of which when so executed and delivered shall be deemed an original, but all such counterparts together shall constitute but one and the same instrument.  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 signature page of this Amendment and Consent by facsimile transmission or electronic mail shall be as effective as delivery of a manually executed counterpart hereof.

 

6.10                        Loan Document.  This Amendment and Consent is a Loan Document.

 

[Signature Pages Follow]

 

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

 

	
 
    	
BORROWERS:
    
	
 
    	
 
    
	
 
    	
AXIALL   CORPORATION,
    
	
 
    	
        as   Borrower and Borrower Representative
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Name: Gregory Thompson
    
	
 
    	
 
    	
Title: Chief Financial Officer
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
ROYAL   GROUP, INC / GROUPE ROYAL, INC,
    
	
 
    	
        as   a Borrower
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Name:
    
	
 
    	
 
    	
Title:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
EAGLE   SPINCO INC.,
    
	
 
    	
        as   a Borrower
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Name: Gregory Thompson
    
	
 
    	
 
    	
Title: Vice President
    

 

[SIGNATURE PAGE TO AMENDMENT AND CONSENT TO CREDIT AGREEMENT]

 

 

	
 
    	
GENERAL   ELECTRIC CAPITAL CORPORATION,
    
	
 
    	
as   Administrative Agent and as Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Name:
    
	
 
    	
 
    	
Title:   Duly Authorized Signatory
    

 

[SIGNATURE PAGE TO AMENDMENT AND CONSENT TO CREDIT AGREEMENT]

 

 

	
 
    	
WELLS   FARGO CAPITAL FINANCE, LLC, as Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Name:
    
	
 
    	
 
    	
Title:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
WELLS   FARGO CAPITAL FINANCE CORPORATION CANADA, as Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Name:
    
	
 
    	
 
    	
Title:
    

 

[SIGNATURE PAGE TO AMENDMENT AND CONSENT TO CREDIT AGREEMENT]

 

 

	
 
    	
BARCLAYS   BANK PLC, as Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Name:
    
	
 
    	
 
    	
Title:
    

 

[SIGNATURE PAGE TO AMENDMENT AND CONSENT TO CREDIT AGREEMENT]

 

 

	
 
    	
CITIBANK,   N.A., as Lender
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Name:
    
	
 
    	
 
    	
Title:
    

 

[SIGNATURE PAGE TO AMENDMENT AND CONSENT TO CREDIT AGREEMENT]

 

 

	
 
    	
HSBC   BANK USA, N.A., as Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Name:
    
	
 
    	
 
    	
Title:
    

 

[SIGNATURE PAGE TO AMENDMENT AND CONSENT TO CREDIT AGREEMENT]

 

 

	
 
    	
JPMORGAN   CHASE BANK, N.A., as Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Name:
    
	
 
    	
 
    	
Title:
    

 

[SIGNATURE PAGE TO AMENDMENT AND CONSENT TO CREDIT AGREEMENT]

 

 

	
 
    	
PNC   BANK, NATIONAL ASSOCIATION, as Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Name:
    
	
 
    	
 
    	
Title:
    

 

[SIGNATURE PAGE TO AMENDMENT AND CONSENT TO CREDIT AGREEMENT]

 

 

	
 
    	
ROYAL   BANK OF CANADA, as Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Name:
    
	
 
    	
 
    	
Title:
    

 

[SIGNATURE PAGE TO AMENDMENT AND CONSENT TO CREDIT AGREEMENT]

 

 

	
 
    	
SUNTRUST   BANK, as Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Name:
    
	
 
    	
 
    	
Title:
    

 

[SIGNATURE PAGE TO AMENDMENT AND CONSENT TO CREDIT AGREEMENT]

 

 

Annex I

 

Specified Properties

 

	
850   East Highway 77, Newbern, Dyer County, TN
    
	
6525   Hardison Rd., Everett, Snohomish County, WA
    
	
1   Contact Place, Delmont, Westmoreland County, PA
    
	
56400   Mound Rd., Shelby Township, Macomb County, MI
    
	
10068   Summit Drive, Prairie, Monroe County, MSex10-1.htm

Exhibit 10.1

 

	
  

 

March 11, 2015

 

PRIVATE AND CONFIDENTIAL

 

Harold A. Hurwitz

Via email (hal.hurwitz@outlook.com)

 

 

Dear Hal:

 

It is with great pleasure that we extend you an offer of employment with MRI Interventions, Inc., on the following terms and conditions:     

 

Position; Start Date. Upon the start date of your employment, you will serve initially in the capacity of Vice President, Finance. You will then assume the position of Chief Financial Officer (CFO) as of the date that is one day after the date MRI Interventions files its quarterly report on Form 10-Q for the period ended March 31, 2015. In each case, you will report directly to me, in my capacity as the company’s President and Chief Executive Officer, and indirectly to the Audit Committee of the company’s Board of Directors. You will be a full-time employee and, as such, you will devote substantially all of your business time and attention to the company’s affairs and the performance of your duties and responsibilities. The start date of your employment will be such date as you and MRI Interventions mutually agree, although we are anticipating that your start date will be on or around March 30, 2015. Of course, our offer of employment is subject to, and conditioned on, successful completion of our standard employment processing procedures, which includes, among other things, a background check.

 

Base Salary. You will receive an annual salary of $230,000, payable in installments in accordance with MRI Interventions’ standard payroll practices, and subject to applicable withholdings and taxes.

 

Bonus. You will be eligible to receive an annual target incentive bonus of 30% of your base salary, subject to the terms and conditions established by MRI Interventions, including amounts in excess of 30% of base salary for exceptional performance. The company will determine in good faith your entitlement to a bonus based on the achievement or satisfaction of such terms, conditions and goals as soon as reasonably practicable after the end of each calendar year. MRI Interventions will pay you your earned bonus within 10 days after the company makes its determination and in any event not later than March 15 of the year following the calendar year in which you performed the services upon which the bonus is based. However, to be entitled to receive any such bonus, you must remain employed by MRI Interventions as of the date of payment. Payment of any bonus is subject to applicable withholdings and taxes. Notwithstanding the foregoing to the contrary, for the calendar year 2015, any bonus will be appropriately pro-rated based on your actual start date of employment.

 

One Commerce Square Suite 2550 Memphis TN 38103 901.522.9300

 

 

 

 

 

Harold A. Hurwitz

March 11, 2015

Page 2

 

Stock Options. In connection with your hiring, you will receive non-qualified stock options entitling you to purchase an aggregate of 450,000 shares of MRI Interventions’ common stock. That option grant will vest over three years in equal installments, on the first, second and third year anniversaries of the start date of your employment. In addition, upon each of the first and second anniversaries of your start date (assuming you remain employed by the company as of those dates), you will receive additional stock options entitling you to purchase 150,000 shares of MRI Interventions’ common stock (such number to be equitably adjusted for any stock split, stock combination or other similar transaction occurring between the date hereof and the date of grant). Each of those option grants will be vest over three years in equal installments, on the first, second and third year anniversaries of the grant date. All such options will be subject to the terms and conditions of the award agreements evidencing the grants.

 

Award Plans. During the term of your employment, you will generally be eligible to participate in any incentive compensation, profit participation or extra compensation plan that is adopted by MRI Interventions and in which the company’s executive officers generally participate, according to the policies and practices adopted from time to time by the company (referred to as “Award Plans”).

 

Benefit Plans. During the term of your employment, you will be entitled to participate in, and to all rights and benefits provided by, the health, life, medical, dental, disability, insurance and welfare plans that are maintained from time to time by the company for your benefit or the benefit of the executives of the company generally or for the company’s employees generally, provided that you must be eligible to participate in such plan under the eligibility provisions thereof that are generally applicable to the plan participants (referred to as “Benefit Plans”).

 

Vacation. You will be entitled each year to vacation time, during which time your compensation will be paid in full. The time allotted for such vacation will be three (3) weeks, to be taken at such time or times as will be mutually convenient and consistent with your duties and obligations to the company. Vacation accrues based on the anniversary of your start date. Any unused vacation will be subject to the company’s policies regarding the same, as such policies may be amended from time to time.   

 

Expense Reimbursement. We recognize that you will have to incur certain out-of-pocket expenses, including, but not limited to, travel expenses, related to your work and the company’s business, and we agree to reimburse you for all reasonable expenses necessarily incurred by you in the performance of your duties and responsibilities, consistent with our policies and procedures regarding business expenses, upon presentation of documentation indicating the amount and business purpose of such expenses.

 

 

 

 

 

Harold A. Hurwitz

March 11, 2015

Page 3 

 

Termination of Employment. Your employment with MRI Interventions will be on an “at-will” basis. As such, you may terminate your employment at any time, for any reason, with or without cause. Likewise, your employment may be terminated by MRI Interventions at any time, for any reason, with or without cause. 

 

Notwithstanding the foregoing, if MRI Interventions terminates your employment without cause, except as otherwise provided below under the caption “Change of Control,” you will be entitled to the following: 

 

(1) MRI Interventions will pay you any portion of your base salary and bonus compensation earned but unpaid as of the termination date plus any unreimbursed business expenses to which you are entitled as of the termination date; 

 

(2) MRI Interventions will pay you an amount equal to 25% of your base salary in effect as of the termination date, which amount will be paid in 6 semi-monthly installments on our standard payroll dates and otherwise in accordance with customary company policies; and

 

(3) MRI Interventions will pay you any amounts you are due pursuant to the terms of any Award Plans and/or Benefit Plans in which you were a participant, in accordance with the terms of such plans.

 

Change of Control. Upon a change of control (within the meaning set forth below), all of your stock options will become fully vested on the date of the change of control. In addition, if your employment is terminated without cause within 2 months prior to, on, or within 6 months after, a change of control, you will be entitled to the following:

 

(1) MRI Interventions will pay you any portion of your base salary and bonus compensation earned but unpaid as of the termination date plus any unreimbursed business expenses to which you are entitled as of the termination date; 

 

(2) MRI Interventions will pay you a lump sum amount that is equal to 50% of your base salary in effect as of the termination date; and 

 

(3) MRI Interventions will pay you any amounts you are due pursuant to the terms of any Award Plans and/or Benefit Plans in which you were a participant, in accordance with the terms of such plans.

 

The term “change of control” will mean the occurrence of any of the following events: (a) a change in the ownership of MRI Interventions, (b) a change in the effective control of MRI Interventions, or (c) a change in the ownership of a substantial portion of the assets of MRI Interventions. A change in the ownership of MRI Interventions will occur on the date on which any one person, or more than one person acting as a group, acquires ownership of MRI Interventions’ stock that, together with stock held by such person or group, constitutes more than 50% of the total fair market value or total voting power of MRI Interventions’ stock. A change in the effective control of MRI Interventions will occur on the date on which either (i) a person, or more than one person acting as a group, acquires ownership of stock of MRI Interventions possessing 30% or more of the total voting power of the stock of the company, taking into account all such stock acquired during the 12-month period ending on the date of the most recent acquisition, or (ii) a majority of the members of the Board of Directors is replaced during any 12-month period by directors whose appointment or election is not endorsed by a majority of the members of such Board of Directors prior to the date of the appointment or election. A change in the ownership of a substantial portion of the assets of MRI Interventions will occur on the date on which any one person, or more than one person acting as a group, other than a person or group of persons that is related to MRI Interventions, acquires assets from the company that have a total gross fair market value equal to or more than 40% of the total gross fair market value of all of the assets of the company immediately prior to such acquisition or acquisitions, taking into account all such assets acquired during the 12-month period ending on the date of the most recent acquisition.

 

 

 

 

 

Harold A. Hurwitz

March 11, 2015

Page 4 

 

Confidentiality; Inventions; Non-Compete. You will be asked to sign MRI Interventions’ standard Non-Disclosure and Proprietary Rights Agreement and Non-Competition Agreement. Your execution of those agreements is a material inducement for MRI Interventions to enter into an employment relationship with you. Therefore, you must sign the agreements prior to the start date of your employment with MRI Interventions.

 

Overall Qualification. Nothing set forth herein will be construed as preventing MRI Interventions from modifying, suspending, discontinuing or terminating any of the Award Plans or Benefit Plans without notice or liability to you so long as (i) the modification, suspension, discontinuation or termination of any such plan is authorized by and performed in accordance with the specific provisions of such plan and (ii) such modification, suspension, discontinuation or termination is taken generally with respect to all similarly situated employees of the Company and does not single out or discriminate against you.

 

Section 409A Compliance. To the extent any provision herein is inconsistent or in conflict with any applicable requirement of Treasury Regulation §1.409A-1, then such requirement will be deemed to override and supersede the inconsistent or conflicting provision.

 

No Existing Conflicts. By entering into an employment relationship, you represent and warrant to MRI Interventions that your employment with MRI Interventions, and the performance of your duties and responsibilities in connection with your employment, will not conflict with, result in a breach of, or constitute a default under, any agreement to which you are a party or by which you are bound.

 

 

 

 

 

Harold A. Hurwitz

March 11, 2015

Page 5

 

Hal, we are delighted at the prospect of you joining the MRI Interventions team, and we are excited about the knowledge, energy and experience you will bring to our organization.

 

Very truly yours,

 

/s/ F. P. Grillo

 

Frank Grillo

President and CEO

 

 

 

Agreed to and accepted:

 

 

/s/ Harold A. Hurwitz                              

Harold A. Hurwitz

 

 

Date:      March 11, 2015

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