Document:

SECOND AMENDMENT TO FORBEARANCE AGREEMENT

OLD NATIONAL BANK, a national banking association (the "Bank"), OBSIDIAN LEASING COMPANY, INC., an Indiana corporation with an address of 111 Monument Circle, Indianapolis, Indiana, 46204 (the "Borrower"), OBSIDIAN ENTERPRISES, INC., PYRAMID COACH, INC., TIMOTHY S. DURHAM, TERRY WHITESELL, and JULIA WHITESELL (collectively, the "Guarantors") (the Borrower and the Guarantors may from time to time hereinafter be referred to as, the "Obsidian Parties") enter into this Second Amendment to Forbearance Agreement (the "Second Amendment"), dated effective as of July 22, 2005.

RECITALS

A.           The Bank and the Obsidian Parties are parties to, inter alia, that certain Forbearance Agreement effective as of December 1, 2004, as amended by that certain First Amendment to Forbearance Agreement effective as of April 30, 2005 (the "Forbearance Agreement").

B.           The Obsidian Parties have been engaged in efforts to remedy defaults under the Loan Documents for several months. These efforts have been directed at paying off the Obligations.

C.           The Bank and the Obsidian Parties would now like to set forth the terms upon which the Bank is willing to extend the Forbearance Period (as defined in the Forbearance Agreement).

D.           The Bank and the Obsidian Parties desire to execute this Second Amendment to acknowledge their consent to the terms of this Second Amendment and to provide for the amendment of certain of the Loan Documents.

E.            Subject to the terms and conditions of this Second Amendment, the Bank has agreed to extend the Forbearance Period to forbear from enforcing its rights and remedies under the Forbearance Agreement and the Loan Documents.

F.            Upon a default under this Second Amendment, the Bank is entitled to immediately pursue all available legal remedies against the Obsidian Parties, including obtaining a judgment therein.

BASED ON THE FOREGOING RECITALS (which are incorporated as representations, warranties, and covenants of the respective parties, as the case may be), the parties hereto agree as follows:

TERMS AND CONDITIONS

1.            Effect of this Second Amendment to the Forbearance Agreement. This Second Amendment shall not change, modify, amend, or revise the terms, conditions, and provisions of the Forbearance Agreement and the Loan Documents, the terms and provisions of which are incorporated herein by reference, except as expressly provided herein. This Second Amendment is not intended to be nor shall it constitute a novation or accord and satisfaction of the 

 

 

outstanding instruments by and between the parties hereto. The Bank and the Obsidian Parties agree that, except as expressly provided herein, all terms and conditions of the Forbearance Agreement and the Loan Documents shall remain and continue in full force and effect. The Obsidian Parties acknowledge and agree that the indebtedness under the Forbearance Agreement and the Loan Documents remains outstanding and is not extinguished, paid, or retired by this Second Amendment, or by any other agreements between the parties hereto prior to the date hereof, and that the Obsidian Parties are and continue to be fully liable for all obligations to the Bank contemplated by or arising out of the Forbearance Agreement or the Loan Documents. The recitals appearing above are incorporated herein by reference and made a part hereof. All defined terms used herein not specifically defined herein shall have the respective
meanings set forth in the Forbearance Agreement or the Loan Documents.

2.            Amendment of the Forbearance Agreement. Subject to the satisfaction of the conditions precedent set forth in Section 3 herein, Section 1 of the Forbearance Agreement is amended and replaced as follows:

1.            Forbearance. The Bank agrees to forbear from enforcing its rights and remedies based on the Defaults through 5:00 P.M. (Terre Haute, Indiana time) on August 31, 2005 (the "Forbearance Period") subject to the following conditions.

3.            Conditions Precedent. This Second Amendment shall become and be deemed effective in accordance with its terms immediately upon the Bank receiving:

(a)          Two (2) copies of this Second Amendment duly executed by the Bank and the Obsidian Parties.

	
             
 	
            (b)
 	
            Such other documents and items as the Bank may reasonably request.
 

4.            Representations and Warranties of the Obsidian Parties. The Obsidian Parties hereby represent and warrant, in addition to any other representations and warranties contained herein, in the Loan Documents, or any other document, writing, or statement delivered or mailed to the Bank or its agent by the Obsidian Parties, as follows:

(a)          This Second Amendment constitutes a legal, valid, and binding obligation of the Obsidian Parties enforceable in accordance with its terms. The Obsidian Parties have taken all necessary and appropriate corporate action for the approval of this Second Amendment and the authorization of the execution, delivery, and performance thereof.

(b)          The Obsidian Parties hereby specifically confirm and ratify the obligations, waivers, and consents under each of the Loan Documents.

(c)          Except as specifically amended herein, all representations, warranties, and other assertions of fact contained in the Loan Documents continue to be true, accurate, and complete.

 

 

	
             
 	
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(d)          The Obsidian Parties acknowledge that the definition of "Loan Documents" shall include this Second Amendment, the Forbearance Agreement, and all the documents executed in conjunction therewith.

5.            Due Date/No Further Forbearance Implied. THE OBSIDIAN PARTIES ACKNOWLEDGE THAT NOTWITHSTANDING ANYTHING IN THE LOAN DOCUMENTS TO THE CONTRARY, AND WITHOUT FURTHER DEMAND OR ACTION BY THE BANK, ALL OF THE OBLIGATIONS WILL BE DUE AND PAYABLE ON THE EARLIER OF A DEFAULT OR 5:00 P.M. (TERRE HAUTE, INDIANA TIME) ON AUGUST 31, 2005. The Obsidian Parties also acknowledge that the Bank has no obligation to extend the term of the Forbearance Period or forbear from enforcing its rights and remedies after the Forbearance Period and nothing contained herein is intended to be a promise or agreement to extend the term of the Forbearance Period beyond August 31, 2005.

6.            Release and Covenant Not to Sue.  In consideration of the agreements and understandings in this Second Amendment, the Obsidian Parties, their respective employees, officers, agents, executors, heirs, successors, and assigns, jointly and severally, hereby release the Bank, its employees, officers, participants, agents, affiliates, subsidiaries, successors, and assigns from any claim, right, or cause of action which now exists, or hereafter arises from or in any way related to facts in existence as of the date hereof, whether known or unknown. By way of example and not limitation, the foregoing includes any claims in any way related to the Loan Documents and the business relationship with the Bank.

Each of the Obsidian Parties hereby covenant that it will refrain from commencing any action or suit or prosecuting any action or suit, in law or in equity, against the Bank, its employees, officers, agents, participants, affiliates, subsidiaries, successors, and assigns, on account of any claim, action, or cause of action which now exists or which may hereafter accrue in the Obsidian Parties' favor based upon facts existing as of the date of this Second Amendment. In addition to the other liability which shall accrue upon the breach of this covenant, the breaching party shall be liable to the Bank for all reasonable attorneys' fees and costs incurred by the Bank in the defense of such action or suit.

7.            Reservation of Rights/No Waivers.  Notwithstanding anything to the contrary in this Second Amendment, all of the Bank's rights and remedies against the Obsidian Parties, the Collateral, and/or any other collateral security granted or given to the Bank are expressly reserved, including, without limitation, rights and remedies resulting from the Defaults.  Likewise, nothing herein shall be deemed to constitute a waiver of any Defaults existing as of the date hereof.

8.            Authority/Counterparts.  All parties executing this Second Amendment in a representative capacity warrant that they have authority to execute this Second Amendment and legally bind the entity they represent. This Second Amendment may be executed in the original or by facsimile in any number of counterparts, each of which shall be an original with the same force and effect as if the signatures were upon the same instrument.

 

 

	
             
 	
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9.            Entire Agreement, Etc. This Second Amendment constitutes the entire understanding of the parties and may only be modified or amended by a writing signed by the party against whom enforcement is sought. This Second Amendment is governed by Indiana law and may be executed in counterparts, and facsimile copies of signatures shall be treated as original signatures for all purposes. This Second Amendment is binding on the Obsidian Parties and their respective heirs, representatives, successors, and assigns and shall inure to the benefit of the Bank and its successors and assigns.

Executed as of the day and year first written above.

	
OLD NATIONAL BANK

By:  /s/  Andrew J. Sutherland

Andrew J. Sutherland, Vice President

OBSIDIAN LEASING COMPANY, INC.

By:  /s/  Timothy S. Durham

Printed:  Timothy S. Durham

Title:  Chairman

OBSIDIAN ENTERPRISES COMPANY, INC.

By:  /s/  Timothy S. Durham

Printed:  Timothy S. Durham

Title:  Chairman

PYRAMID COACH, INC.

By:  /s/  Timothy S. Durham

Printed:  Timothy S. Durham

Title:  Chairman

	
	 
	

/s/  Timothy Durham

Timothy S. Durham

/s/  Terry Whitesell

Terry Whitesell

/s/  Julia Whitesell

Julia WhitesellExhibit 10.1

SECOND AMENDMENT AGREEMENT 

     SECOND AMENDMENT
AGREEMENT (this “Amendment”) dated as of September 15, 2005
by and between Imagistics International Inc. (the “Company”)
and Equiserve Trust Company, N.A. (the “Rights Agent”), with
respect to the Rights Agreement dated as of September 28, 2001, by and between
Pitney Bowes Office Systems, Inc. and the Rights Agent, as amended by the First
Amendment Agreement dated as of August 7, 2002 (as so amended by such First Amendment
Agreement, the “Rights Agreement”). Capitalized terms used herein
and not defined shall have the meanings specified in the Rights Agreement.

          WHEREAS,
     the Company proposes to enter into an Agreement and Plan of Merger, dated
     as of the date hereof (as amended from time to time, the “Merger
Agreement”), by and among the Company, Orange N.V., a company organized
under the laws of the Netherlands and Orange Merger Corp., a Delaware corporation
and wholly owned subsidiary of Orange; 

          WHEREAS, the Board of Directors of the Company has deemed it is advisable and in the best interests of the Company and its shareholders that the Company enter into the Merger Agreement; 

          WHEREAS, the Board of Directors of the Company has determined, in connection with the execution of the Merger Agreement, that it is desirable to amend the Rights Agreement to exempt the Merger
Agreement, the transactions contemplated therein and certain related matters from the application of the Rights Agreement; 

          WHEREAS, Section 27 of the Rights Agreement provides that, prior to the Distribution Date, the Company and the Rights Agent shall, if the Company so directs, supplement or amend any provision of the
Rights Agreement without the approval of any holders of certificates representing shares of Common Stock; 

          WHEREAS, as of the time immediately prior to this Amendment, no Distribution Date has occurred; and 

          WHEREAS, pursuant to the terms of the Rights Agreement and in accordance with Section 27 thereof, the Company has directed that the Rights Agreement should be amended as set forth in this Amendment,
prior to the execution of the Merger Agreement, and has delivered to the Rights Agent the certificate of an officer of the Company required by Section 27 of the Rights Agreement. 

          NOW, THEREFORE, in consideration of the premises and the mutual agreements herein set forth, the parties hereby agree as follows: 

          Section 1. Amendments to The Rights Agreement. The Rights Agreement is hereby amended as follows: 

          (a) The following is hereby inserted as a new Section 1A of the Rights Agreement, to appear between Section 1 and Section 2 of the Rights
Agreement: 

           “Section 1A. Specified Exceptions. Notwithstanding anything in this Agreement to the contrary, (i) no Person shall become an Acquiring Person or shall be deemed to have become an Acquiring
          Person, (ii) no Distribution Date, Stock Acquisition Date, Triggering Event, Section 11(a)(ii) Event or Section 13 Event shall occur or be deemed to have occurred and (iii) no other event or occurrence resulting in a triggering of rights of holders
          of Rights, or of obligations of the Company (including, without limitation, any obligation to issue Rights Certificates or to provide notice to holders of Rights), under the Rights Agreement shall occur or be deemed to have occurred, in each case by
          reason of (A) the Agreement and Plan of Merger, dated as of September 15, 2005 (as amended from time to time, the “Merger Agreement”),
          by and among the Company, Orange N.V., a company organized under the
          laws of the Netherlands, and Orange Merger Corp., a Delaware corporation
          and wholly owned subsidiary of Orange, (B) the execution and delivery
          by the Company of the Merger Agreement or any amendment thereto, (C)
          the transactions contemplated by the Merger Agreement, including, without
          limitation, the Offer, the purchase of shares of Company Common Stock
          pursuant to the Offer, the issuance of Top-Up Option Shares and the
          Merger (as each such term is defined in the Merger Agreement) or (D)
          the public announcement of any of the foregoing.” 

          (b) The
     definition “Expiration Date” is hereby amended to read in its
entirety as follows: 

          ““Expiration Date” means the earliest of (a) the Final Expiration Date, (b) the time at which all Rights are redeemed as provided in Section 23 or exchanged as provided in Section 24
and (c) the Effective Time (as such term is defined in the Merger Agreement)”.” 

          Section 2. No Other Effect. Except as amended hereby, the Rights Agreement shall remain unchanged, and the Rights Agreement as amended hereby
shall remain in full force and effect and is hereby ratified and confirmed. 

          Section 3. Governing Law. This Amendment shall be deemed to be a contract made under the laws of the State of Delaware and for all purposes
shall be governed by and construed in accordance with the laws of such State applicable to contracts to be made and performed entirely within such State, except that the rights and obligations of the Rights Agent shall be governed by the laws of the
State of New York. 

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          Section 4. Counterparts. This Amendment may be executed in any number of counterparts and each of such counterparts shall for all purposes be
deemed to be an original, and all such counterparts shall together constitute one and the same instrument. 

          Section 5. Descriptive Headings. The captions herein are included for convenience of reference only, do not constitute a part of this
Amendment and shall be ignored in the construction and interpretation hereof. 

3
     

     

     

           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. 

	IMAGISTICS INTERNATIONAL INC.
	 	 	 
	 	 	 
	By:	 /s/ Mark S. Flynn 
	 	
	

	 	Name: 	Mark S. Flynn 
	 	Title:	Vice President, General
	 	 	Counsel and Secretary
	 	 	 
	 	 	 
	EQUISERVE TRUST COMPANY, N.A.
	 	 	 
	 	 	 
	By:	 /s/ Thomas F. Tighe 
	 	
	

	 	Name: 	Thomas F. Tighe 
	 	Title:	Managing Director

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