Document:

Silicon Valley Bank Amendment

	

Exhibit 10.3

Silicon Valley Bank

Amendment to Loan Documents

	
Borrower:    Entrada Networks, Inc.

	
                    Rixon Networks, Inc. (fka Entrada Networks-AJ, Inc.)

	
                    Sync Research, Inc.

	
                   Torrey Pines Networks, Inc.

	
                   Microtek Systems, Inc.

	
 

Date:                    December 22, 2004

THIS AMENDMENT TO LOAN DOCUMENTS is entered into between Silicon Valley Bank ("Silicon") and the borrower named above ("Borrower").

The Parties agree to amend the Loan and Security Agreement between them, dated December 14, 2004 (as otherwise amended, if at all, the "Loan Agreement"), as follows, effective as of the date hereof. (Capitalized terms used but not defined in this Amendment, shall have the meanings set forth in the Loan Agreement.)

1.    Modified Maturity Date. The Maturity Date set forth in Section 13.1 of the Loan Agreement is hereby amended to read as follows: 

"Maturity Date" is January 30, 2005.

2.    Fee. In consideration for Silicon entering into this Amendment, Borrower shall concurrently pay Silicon a fee in the amount of $1,000, which shall be non-refundable and in addition to all interest and other fees payable to Silicon under the Loan Documents. Silicon is authorized to charge said fee to Borrower’s loan account. 

3.    Representations True. Borrower represents and warrants to Silicon that all representations and warranties set forth in the Loan Agreement, as amended hereby, are true and correct. 

4.    General Provisions. This Amendment, the Loan Agreement, any prior written amendments to the Loan Agreement signed by Silicon and Borrower, and the other written documents and agreements between Silicon and Borrower set forth in full all of the representations and agreements of the parties with respect to the subject matter hereof and supersede all prior discussions, representations, agreements and under-standings between the parties with respect to the subject hereof. Except as herein expressly amended, all of the terms and provisions of the Loan Agreement, and all other documents and agreements between Silicon and Borrower shall continue in full force and effect and the same are hereby ratified and confirmed. 

 

	

Borrower:

ENTRADA NETWORKS, INC.

By: /s/ Kanwar J. S. Chadha

President 

By: /s/ Davinder Sethi

Secretary or Ass't Secretary
	
Silicon:

SILICON VALLEY BANK

By: /s/ Robert Anderson 

Title Vice President

	
Borrower:

RIXON NETWORKS, INC.

By: /s/ Kanwar J. S. Chadha

President 

By: /s/ Davinder Sethi

Secretary or Ass't Secretary
	
Borrower:

SYNC RESEARCH, INC.

By: /s/ Kanwar J. S. Chadha

President 

By: /s/ Davinder Sethi

Secretary or Ass't Secretary

	
Borrower:

TORREY PINES NETWORKS, INC.

By: /s/ Kanwar J. S. Chadha

President 

By: /s/ Davinder Sethi

Secretary or Ass't Secretary
	
Borrower:

MICROTEK SYSTEMS, INC.

By: /s/ Kanwar J. S. Chadha

President 

By: /s/ Davinder Sethi

Secretary or Ass't Secretary

	
--stock award

Exhibit 10.1

RESTRICTED STOCK UNIT AWARD NO. __________

 

AGL RESOURCES INC.

 

LONG-TERM INCENTIVE PLAN (1999)

 

RESTRICTED STOCK UNIT AGREEMENT 

 

This Agreement between AGL Resources Inc. (the “Company”) and the Recipient sets forth the terms of the Restricted Stock Units awarded under the above-named Plan. 

 

Name of Recipient: _________________________

 

Date of Award: January 3, 2005      Number of Restricted Stock Units: ____________

 

Performance Measurement Period: January 1, 2005 through December 31, 2005

Performance Measures: These Restricted Stock Units are subject to ___________. 

At the end of the Performance Measurement Period, the Restricted Stock Units will be eligible for vesting, provided, that, the Performance Measures described above have been achieved, as certified by the Compensation and Management Development Committee of the Board of Directors of the Company (the “Committee”). The last sentence of Section 8.5 of the Plan shall not apply to the award evidenced by this Agreement. 

 

Vesting: At the end of the Performance Measurement Period and upon certification by the Committee (the “Certification Date”), the Restricted Stock Units shall be converted into an equal number of shares of Company common stock, and such shares of common stock shall be issued to the Recipient within a reasonable period of time pursuant to the terms of the Plan. 

 

Upon issuance of the common stock, such shares shall become vested and nonforfeitable as follows:

 

	·  	one-third of the shares of Restricted Stock shall vest as of each anniversary date of the Certification Date.

 

Upon a change in control of the Company, (i) the Restricted Stock Units shall be converted into an equal number of shares of Company common stock and become immediately 100% vested and nonforfeitable and (ii) any outstanding nonvested shares of Restricted Stock will become immediately 100% vested and nonforfeitable.

 

Shareholder rights: Upon issuance of the common stock, the Recipient will have immediate rights of ownership in the stock, including the right to vote the stock and receive dividends on the stock. 

Forfeiture; termination of employment: Subject to the terms of the Plan and the terms set forth above, in the event that the Committee does not certify the attainment of the performance criteria set forth above, the Restricted Stock Units under this Agreement shall be forfeited immediately.

In addition, unless the Committee decides otherwise, all Restricted Stock Units and shares of Restricted Stock covered hereunder that remain subject to restriction upon the Recipient’s termination of employment for any reason (including death, disability or retirement under the terms of the Company’s Retirement Plan, or any other retirement plan approved by the Board, for that purpose) will be forfeited as of the date of such termination of employment.

 

Tax Withholding: At the time the shares of Restricted Stock vest, the Recipient must pay to the Company an amount necessary to cover minimum required income tax and other withholdings required by law. The Recipient may satisfy the withholding requirements by any one or a combination of the following methods: 

 

(a) cash, or 

 

(b) withholding shares of common stock that are otherwise vested under the Restricted Stock Unit Agreement.

 

Except as provided herein, this Restricted Stock Unit Agreement is subject to the terms and conditions of the Plan. The Recipient has received a copy of the Plan’s prospectus, including a copy of the Plan. The Recipient agrees to the terms of this Restricted Stock Unit Agreement, which may be amended only upon a written agreement signed by the parties hereto.

 

This 3rd day of January, 2005

 

	
AGL RESOURCES INC.

 
	
RECIPIENT:

 

	 	
 

 

____________________________

 

	
Melanie M. Platt, Senior Vice Presidentunit award

Exhibit 10.2

PERFORMANCE UNIT AWARD NO. __________

 

AGL RESOURCES INC.

 

LONG-TERM INCENTIVE PLAN (1999)

 

PERFORMANCE CASH UNIT AGREEMENT 

 

This Agreement between AGL Resources Inc. (the “Company”) and the Recipient sets forth the terms of the Performance Units awarded under the above-named Plan. 

 

Name of Recipient: _________________________

 

Date of Award: January 3, 2005      Performance Multiple: _____

 

Target Performance Units: $ 

 

Performance Measurement Period: January 1, 2005 through December 31, 200___

Performance Measurement: The Performance Units shall vest at the end of the Performance Measurement Period based on the Company’s internal measure of total shareholder return (defined as compound earnings growth plus dividend yield, or TSR) at the end of the Performance Measurement Period.

 

Performance Calculation: At the end of the Performance Measurement Period, the Performance Units will vest based on the increase in TSR during the Performance Measurement Period in accordance with the following formula:

 

Base Pay x Performance Multiple x TSR % = Actual Award

 

In particular, the performance calculation shall be determined as follows:

 

	·  	Base pay shall be the Recipient’s base pay as of the date of award

 

	·  	Performance Multiple is set forth in this Performance Unit Agreement

 

	·  	TSR shall be calculated as of the end of the Performance Measurement Period. TSR shall be calculated to two decimal places.

 

Threshold, Target and Maximum Payout: Threshold payout is calculated at ___% TSR growth. Target payout is calculated at ____% TSR growth. Maximum payout is calculated at ___% TSR growth or more. If TSR growth is less than ___%, then no payout shall be made and the Performance Units shall be forfeited. 

 

Following is an example of threshold, target and maximum payouts under this Agreement:

 

Represents Base x Multiple x TSR

 

	
Name

 
	
Perf Period

 
	
Base Pay ($)

 
	
Perf Multiple

 
	
Threshold Payout 

 
	
Target Payout 

 
	
Maximum Payout 

 

	 	
1/1/05 -

 

12/31/0__

 
	 	 	 	 	 

 

Vesting: At the end of the Performance Measurement Period and upon certification of the Performance Measure by the Compensation and Management Development Committee, the Performance Units shall be payable in cash to the Recipient within a reasonable period of time pursuant to the terms of the Plan. 

 

Forfeiture of units; termination of employment: Subject to the terms of the Plan and the terms set forth above, in the event that the Committee does not certify the attainment of the threshold performance criteria set forth above, the Performance Units under this Agreement shall be forfeited immediately.

In addition, unless the Committee decides otherwise, all Performance Units covered hereunder that remain subject to restriction upon the Recipient’s termination of employment for any reason (including death, disability or retirement under the terms of the Company’s Retirement Plan, or any other retirement plan approved by the Board, for that purpose) will be forfeited as of the date of such termination of employment.

 

Tax Withholding: At the time the Performance Units vest, the Recipient must pay to the Company an amount necessary to cover minimum required income tax and other withholdings required by law. The Recipient may satisfy the withholding requirements by any one or a combination of the following methods: 

 

(a) cash, or 

 

(b) withholding Performance Units that are otherwise vested under this Performance Unit Agreement.

 

Except as provided herein, this Performance Unit Agreement is subject to the terms and conditions of the Plan. The Recipient has received a copy of the Plan’s prospectus, including a copy of the Plan. The Recipient agrees to the terms of this Performance Unit Agreement, which may be amended only upon a written agreement signed by the parties hereto.

 

This 3rd day of January, 2005

 

	
AGL RESOURCES INC.

 
	
RECIPIENT:

 

	 	
 

 

____________________________

 

	
Melanie M. Platt, Senior Vice President

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