Document:

EX-10.1

EXHIBIT 10.1

SECOND AMENDMENT TO CREDIT AGREEMENT AND WAIVER

THIS SECOND AMENDMENT TO CREDIT AGREEMENT AND WAIVER (the “Amendment”) is entered into as of
May 11, 2006, by and among ALLIED CAPITAL CORPORATION, a corporation organized under the laws of
the State of Maryland (“Borrower”) and BANK OF AMERICA, N.A., as Administrative Agent (in such
capacity, the “Administrative Agent”) for the Lenders under the Credit Agreement (hereinafter
defined), and the lenders party hereto (“Lenders”).

R E C I T A L S

A. Borrower, Administrative Agent, certain other Agents and Lenders are parties to that
certain Credit Agreement dated as of September 30, 2005, as amended by that certain First Amendment
to Credit Agreement dated as of November 4, 2005 (the “Credit Agreement”). Unless otherwise
indicated herein, all terms used with their initial letter capitalized are used herein with their
meaning as defined in the Credit Agreement; all Section references are to Sections in the Credit
Agreement; and all Paragraph references are to Paragraphs in this Amendment.

B. Borrower has requested that (i) Section 2.5 of the Credit Agreement be amended to decrease
the applicable interest rate for Eurodollar Loans under the Credit Agreement, (ii) Section 1.1 of
the Credit Agreement be amended to decrease the Money Market Rate, as applicable to Swing Line
Loans, and (iii) Section 3.8 of the Credit Agreement be amended to decrease the LC Fees (each a
“Rate Change,” and collectively the “Rate Changes”).

C. Borrower has also requested that Section 8.2 of the Credit Agreement be amended to modify
the financial reporting requirements as it relates to the delivery of consolidating financial
statements.

D. Pursuant to Section 2.13 of the Credit Agreement, Borrower has requested an increase in
Commitments under the Credit Agreement (the “Proposed Commitment Increase”), which Commitment
increase, if agreed upon by new or existing Lenders, will become effective within 30 days after the
Second Amendment Effective Date (as hereinafter defined). In connection with such Proposed
Commitment Increase, Borrower is also requesting that (i) Lenders waive any amounts which may be
owed pursuant to Section 4.5 of the Credit Agreement as a result of prepayments made to accommodate
redistribution of the Commitments in order to consummate the Proposed Commitment Increase, and (ii)
the Credit Agreement be further amended to permit Interest Periods of 7 and 14 days during the
30-day period immediately following the effective date of any Commitment increase effected pursuant
to Section 2.13 of the Credit Agreement.

E. Subject to and upon the following terms and conditions, Administrative Agent and Lenders
are willing to amend and waive certain provisions of the Credit Agreement to reflect the
transactions referred to in the preceding recitals B through D.

NOW, THEREFORE, in consideration of the premises and other good and valuable consideration,
the receipt and adequacy of which are hereby acknowledged, Borrower, Administrative Agent, and
Lenders agree, as follows:

PARAGRAPH 1 . AMENDMENTS AND WAIVERS TO CREDIT AGREEMENT.

1.1 Amendment Provisions.

(a) Section 1.1 of the Credit Agreement is amended as follows:

	 	(i)	 	The following definition of “Commitment Increase Effective
Date” is inserted alphabetically to read as follows:

“‘Commitment Increase Effective Date’ means, with respect to any increase in
the Commitments effected pursuant to Section 2.13, the date upon which such
increase in Commitments is effective.”

	 	(ii)	 	The definition of “Interest Period” is amended to permit 7 and
14 days Interest Periods for Eurodollar Loans made during the 30-day period
immediately following the effective date of any Commitment increase by deleting
the first parenthetical in such Definition and substituting therefor the
following:

“(solely with respect to Eurodollar Loans made during the thirty (30)
calendar day period immediately following the Effective Date or any
Commitment Increase Effective Date)”

	 	(iii)	 	The definition of “Money Market Rate” is amended by deleting
the reference to “1.30%” in clause (i) therein and substituting therefor
“1.05%”.

	 	(b)	 	Section 2.5(a)(ii) of the Credit Agreement is amended to decrease the interest
rate for Eurodollar Loans by deleting the reference to “1.30%” in clause (A) therein
and substituting therefor “1.05%”.

	 	(c)	 	Section 3.8(d) of the Credit Agreement is amended to decrease the rate
applicable to LC Fees by deleting the reference to “1.30%” in clause (i) therein and
substituting therefor “1.05%”.

	 	(d)	 	Section 8.2 of the Credit Agreement is amended to modify the existing reporting
requirement with respect to annual delivery of consolidating financial statements by
adding the following proviso at the end of Section 8.2:

“provided that, at such time as no agreement evidencing Debt of Borrower and its
Consolidated Subsidiaries (other than this Agreement) requires the delivery of
consolidating financial statements, then, notwithstanding the foregoing, Borrower
will not be required to deliver the consolidating balance sheets of Borrower and its
Consolidated Subsidiaries and the related consolidating statements of operations and
cash flows of Borrower and its Consolidated Subsidiaries.”

1.2 Waiver. By execution of this Amendment, the Lenders agree to waive any amounts which
may be owed pursuant to Section 4.5 of the Credit Agreement, if any, as a result of any prepayments
made to accommodate redistribution of the Commitments on the Commitment Increase Effective Date for
the Proposed Commitment Increase, so long as the Commitment Increase Effective Date for the
Proposed Commitment Increase occurs no later than 30 days after the Second Amendment Effective
Date.

PARAGRAPH 2. SECOND AMENDMENT EFFECTIVE DATE. This Amendment shall be binding
upon the Administrative Agent, Borrower, and Lenders on the last day (the “Second Amendment
Effective Date”) upon which (a) counterparts of this Amendment shall have been executed and
delivered to Administrative Agent by Borrower, Administrative Agent, and Lenders, or when
Administrative Agent shall have received, telecopied, telexed, or other evidence satisfactory to it
that all such parties have executed and are delivering to Administrative Agent counterparts
thereof; (b) Borrower shall have delivered to Administrative Agent copies (certified by the
Secretary or Assistant Secretary of Borrower) of all corporate action taken by Borrower to
authorize the execution, delivery, and performance of this Amendment, and any related Debt
incurrence; and (c) Borrower shall have paid to each Lender (by payment to Administrative Agent for
the account of each Lender) an Amendment Fee equal to $ 10,000 for each Lender.

PARAGRAPH 3. REPRESENTATIONS AND WARRANTIES. As a material inducement to Lenders
and Administrative Agent to execute and deliver this Amendment, Borrower hereby represents and
warrants to Lenders and Administrative Agent (with the knowledge and intent that such parties are
relying upon the same in entering into this Amendment) the following: (a) the representations and
warranties in the Credit Agreement and in all other Loan Documents are true and correct on the date
hereof in all material respects, as though made on the date hereof, except to the extent that such
representations and warranties expressly relate solely to an earlier date (in which case such
representations and warranties shall have been true and accurate as of such earlier date); (b) no
Default or Event of Default exists under the Loan Documents or will exist after giving effect to
the transactions contemplated by this Amendment; (c) Borrower has the right and power, and has
taken all necessary action to authorize it to execute, deliver, and perform this Amendment in
accordance with its terms and to consummate the transaction contemplated hereby; (d) this Amendment
has been duly executed and delivered by the duly authorized officers of Borrower, and is a legal,
valid, and binding obligation of Borrower, enforceable against it in accordance with its terms; and
(e) the execution, delivery and performance of this Amendment in accordance with its terms, do not
and will not, by the passage of time, the giving of notice, or otherwise: (i) require any
Governmental Approval, other than such as have been obtained and are in full force and effect, or
violate any Applicable Law (including all Environmental Laws) relating to Borrower or any
Subsidiary; (ii) conflict with, result in a breach of, or constitute a default under the articles
of incorporation or the bylaws of Borrower or the organizational documents of any Subsidiary, or
any indenture, agreement, or other instrument to which Borrower or any Subsidiary is a party or by
which it or any of its respective properties may be bound; or (iii) result in or require the
creation or imposition of any Lien upon or with respect to any property now owned or hereafter
acquired by Borrower or any Subsidiary.

PARAGRAPH 4. MISCELLANEOUS.

4.1 Effect on Loan Documents. The Credit Agreement and all related Loan Documents shall
remain unchanged and in full force and effect, except as provided in this Amendment, and are hereby
ratified and confirmed. On and after the Second Amendment Effective Date, all references to the
“Credit Agreement” or the “Agreement” shall be to the Credit Agreement as herein amended. The
execution, delivery, and effectiveness of this Amendment shall not, except as expressly provided
herein, operate as a waiver of any rights of the Lenders under the Credit Agreement or any Loan
Documents, nor constitute a waiver under the Credit Agreement or any other provision of the Loan
Documents.

4.2 Reference to Miscellaneous Provisions. This Amendment and the other documents
delivered pursuant to this Amendment are part of the Loan Documents referred to in the Credit
Agreement, and the provisions relating to Loan Documents set forth in Section 12 of the Credit
Agreement are incorporated herein by reference the same as if set forth herein verbatim.

4.3 Costs and Expenses. Borrower agrees to pay promptly the reasonable fees and expenses
of counsel to Administrative Agent for services rendered in connection with the preparation,
negotiation, reproduction, execution, and delivery of this Amendment.

4.4 Counterparts. This Amendment may be executed in a number of identical counterparts,
each of which shall be deemed an original for all purposes, and all of which constitute,
collectively, one agreement; but, in making proof of this Amendment, it shall not be necessary to
produce or account for more than one such counterpart. It is not necessary that all parties
execute the same counterpart so long as identical counterparts are executed by Borrower,
Administrative Agent, and Lenders.

4.5 Entirety. this written agreement represents the final agreement among the parties
and may not be contradicted by evidence of prior, contemporaneous, or subsequent oral agreement of
the parties. There are no unwritten oral agreements among the parties.

4.6 Parties. This Amendment binds and inures to Borrower, Administrative Agent, Lenders,
and their respective successors and assigns.

IN WITNESS WHEREOF, the parties hereto have executed this Amendment in multiple counterparts
as of the respective dates indicated on each signature page hereof, but effective as of the Second
Amendment Effective Date.

Remainder of this page intentionally blank.

Signature page to follow

1

Signature Page to that certain Second Amendment to Credit Agreement and Waiver dated as of the date
first stated above, amending that certain Credit Agreement dated as of September 30, 2005, as
amended and modified to date.

	 
	 

	ALLIED CAPITAL CORPORATION, as Borrower

By: /s/ Kelly A. Anderson

	 

	Kelly A. Anderson, Executive Vice President and Treasurer

BANK OF AMERICA, N.A., as Administrative Agent and as a Lender

By: /s/ Elizabeth Kurilecz

	 

	Elizabeth Kurilecz, Senior Vice President

	 

	BRANCH BANKING AND TRUST COMPANY, as a Lender

By: /s/ James E. Davis

	 

	James E. Davis, Senior Vice President

CALYON NEW YORK BRANCH, as a Lender

By: /s/ Sebastian Rocco

	 

	Sebastian Rocco, Managing Director

By: /s/ William Denton

	 

	William Denton, Managing Director

	 

	CHEVY CHASE BANK, F.S.B., as a Lender

By: /s/ Richard L. Amador

	 

	Richard L. Amador, Group Vice President

CITIBANK, N.A., as a Lender

By: /s/ Peter McGovern

	 

	Peter McGovern, Senior Vice President

	 

	COMMERZBANK AKTIENGESELLSCHAFT NEW YORK AND GRAND CAYMAN BRANCHES, as a Lender

By: /s/ Michael P. McCarthy

	 

	Michael P. McCarthy, Vice President

By: /s/ Maureen A. Carson

	 

	Maureen A. Carson, Assistant Vice

President

DEUTSCHE BANK AG NEW YORK BRANCH, as a Lender

By: /s/ Ruth Leung

	 

	Ruth Leung, Director

By: /s/ Richard Herder

	 

	Richard Herder, Managing Director

	 

	FIRSTRUST BANK, as a Lender

By: /s/ John Hollingsworth

	 

	John Hollingsworth, Vice President

HSBC BANK USA, NA, as a Lender

By: /s/ Vince Clark

	 

	Vince Clark, Senior Vice President

	 

	JPMORGAN CHASE BANK, N.A., as a Lender

By: /s/ Christine Herrick

	 

	Christine Herrick, Vice President

LASALLE BANK N.A., as a Lender

By: /s/ Thomas Mills

	 

	Thomas Mills, Acting Vice President

	 

	M&T BANK, as a Lender

By: /s/ Ann Silverman

	 

	Ann Silverman, Acting Vice President

MERCANTILE-SAFE DEPOSIT & TRUST COMPANY, as a Lender

By: /s/ Guy E. Johnson

	 

	Guy E. Johnson, Executive Vice President

	 

	MERRILL LYNCH BANK USA, as a Lender

By: /s/ Louis Alder

	 

	Louis Alder, Director

PNC BANK, NATIONAL ASSOCIATION, as a Lender

By: /s/ Douglas T. Brown

	 

	Douglas T. Brown, Senior Vice President

	 

	UNION BANK OF CALIFORNIA, N.A., as a Lender

By: /s/ Robert Leeper

	 

	Robert Leeper, Senior Vice President

WACHOVIA BANK, NATIONAL ASSOCIATION, as a Lender

By: /s/ Grainne M. Pergolini

	 

	Grainne M. Pergolini, Vice President

	 

	WESTLB AG, NEW YORK BRANCH, as a Lender

By: /s/ John Moorhead

	 

	John Moorhead, Director

By: /s/ Sal Battinelli

	 

	Sal Battinelli, Executive Director

SUNTRUST BANK, as a Lender

By: /s/ David V. Pewter

	 

	David V. Pewter, Managing Director

	 

2EX-10.73

Exhibit 10.73

MEADE INSTRUMENTS CORP.

NONQUALIFIED STOCK OPTION AGREEMENT

THIS AGREEMENT is dated as of this 8th day of May, 2006, between Meade Instruments
Corp., a Delaware corporation (the “Corporation”), and Steven L. Muellner (the “Employee”).

W I T N E S S E T H

WHEREAS, the Corporation has adopted and the stockholders of the Corporation have approved the
Meade Instruments Corp. 1997 Stock Incentive Plan (the “Plan”).

WHEREAS, pursuant to the Plan, the Corporation has granted an option to the Employee upon the
terms and conditions evidenced hereby, as required by the Plan, which Option is not intended as and
shall not be deemed to be an incentive stock option within the meaning of Section 422 of the Code.

NOW, THEREFORE, in consideration of the services rendered and to be rendered by the Employee,
the Corporation and the Employee agree to the terms and conditions set forth herein as required by
the terms of the Plan.

1. Grant of Option. This Agreement evidences the Corporation’s grant to the Employee, as of
May 8, 2006 (the “Option Date”), of the right and option to purchase, on the terms and conditions
set forth herein and in the Plan, all or any part of an aggregate of 500,000 shares of the Common
Stock, par value $0.01 per share, at the price of $2.89 per share (the “Option”), which amount
represents the Fair Market Value of the shares as of the Option Date, exercisable from time to
time, subject to the provisions of this Agreement and the Plan, prior to the close of business on
the day before the tenth anniversary of the Option Date (the “Expiration Date”).

2. Option Exercisability and Term. Subject to adjustment pursuant to the terms of the Plan,
the Option shall become exercisable in 25% increments beginning on the first anniversary of the
option date and on each such anniversary until the options are exercisable in full.

3. Exercisability of Option. To the extent the Employee does not in any year purchase all or
any part of the shares to which the Employee is entitled, the Employee has the right cumulatively
thereafter to purchase any shares not so purchased and such right shall continue until the Option
terminates or expires. Fractional share interests shall be disregarded, but may be cumulated. No
fewer than ten (10) shares may be purchased at any one time, unless the number purchased is the
total number at the time available for purchase under the Option.

4. Method of Exercise of Option. The Option shall be exercisable by the delivery to the
Corporation of a written notice stating the number of shares to be purchased pursuant to the Option
and accompanied by payment made in accordance with and in a form permitted by Section 2.2 of the
Plan for the full purchase price of the shares to be purchased, subject to such further limitations
and rules or procedures as the Board or Committee may from time to time establish as to any
non-cash payment and as to the tax withholding requirements of Section 6.5 of the Plan.

5. Non-Transferability of Option. Subject to limited exceptions set forth in the Plan, the
Option and any other rights of the Employee under this Agreement or the Plan are nontransferable.

6. Notices. Any notice to be given under the terms of this Agreement shall be in writing and
addressed to the Corporation at its principal office to the attention of the Chief Financial
Officer, and to the Employee at the address given beneath the Employee’s signature hereto, or at
such other address as either party may hereafter designate in writing to the other. Any such
notice shall be deemed to have been duly given when enclosed in a properly sealed envelope
addressed as aforesaid, registered or certified, and deposited (postage and registry or
certification fee prepaid) in a post office or branch post office regularly maintained by the
United States Government.

7. General Terms. The Option and this Agreement are subject to, and the Corporation and the
Employee agree to be bound by, the provisions of the Plan that apply to the Option. Such
provisions are incorporated herein by this reference. The Employee acknowledges receiving a copy
of the Plan and reading its applicable provisions. In the event of a conflict or inconsistency
between the terms and conditions of this Agreement and of the Plan, the terms and conditions of the
Plan shall govern. Capitalized terms not otherwise defined herein shall have the meaning assigned
to such terms in the Plan.

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above
written.

MEADE INSTRUMENTS CORP.,

a Delaware corporation

	 
	 

	By:/s/ Mark D. Peterson

	 

	Mark D. Peterson

	 

	Title Senior Vice President and General Counsel

	 

	EMPLOYEE

/s/ Steven L. Muellner

(Signature)

1

Spousal Consent

In consideration of the execution of the foregoing Stock Option Agreement by Meade Instruments
Corp., I, , the spouse of the Employee therein named, do hereby agree to be bound by all of the
terms and provisions thereof and of the Plan.

DATED:

Signature of Spouse

2

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