Document:

Exhibit 10.45 - Amendment to Credit Agreement

	

NOVEMBER 2002
AMENDMENT TO CREDIT AGREEMENT 

          THIS
AMENDMENT, dated this 13th day of November, 2002, between DENDRITE INTERNATIONAL, INC., a
New Jersey corporation (the “Company”), and JPMORGAN CHASE BANK (formerly known
as The Chase Manhattan Bank) (the “Bank”). 

Preliminary Statement 

          
A.     Reference
is made to the Amended and Restated Credit Agreement dated as of  November 30, 1998
between the Company and the Bank, which was amended by the  First Amendment and Waiver
dated November 15, 1999 between them and the November  2001 Amendment to Credit Agreement
dated November 6, 2001 between them (which,  as so amended, will be called herein the
“Credit Agreement”). All  capitalized terms used in this Amendment shall have
the respective meanings  ascribed to them in the Credit Agreement. Pursuant to the Credit
Agreement, the  Bank has agreed to provide a revolving credit facility to the Company on
the  terms and conditions set forth therein.  

          
B.     On
the terms and conditions hereinafter expressly provided, the Company and the  Bank desire
to provide for an extension of the term of such credit facility and  for certain other
changes to the Credit Agreement.  

          
NOW, THEREFORE, for valuable consideration (the receipt and sufficiency of which are hereby
acknowledged), the Company and the Bank hereby agree as follows:  

ARTICLE 1.     PARTICULAR AMENDMENTS. 

          
          Section 1.1     Acceptable Acquisition.  In Section 1.01 of the Credit Agreement, the definition of
the term "Acceptable  Acquisition " is hereby changed to read as follows: 

	  	        “‘Acceptable
Acquisition’ means any Acquisition which (a) has been either (i) approved by the
Board of Directors of the corporation which is the subject of such Acquisition or (ii)
recommended by such Board to the shareholders of such corporation; and (b) is for a
business within similar or complementary lines of business as conducted by the Company on
the date hereof; provided that (x) at the time of such Acquisition and immediately
after giving effect thereto no Default or Event of Default shall have occurred and be
continuing, and (y) if any amount of the consideration paid or being paid for such
Acquisition shall be derived directly or indirectly from a Borrowing under the Credit
Agreement, then the total cash consideration paid or being paid for such Acquisition, when
added to the cash consideration paid or being paid for all Acquisitions made or committed
to after November 12, 2002, shall not aggregate in excess of $50,000,000 in cash
consideration for all Acquisitions made or committed to after November 12, 2002, and (z)
no more than $20,000,000 of the aggregate purchase prices for all Acquisitions made or
committed to after November 12, 2002, shall be capital contributions or commitments to
make capital contributions to any partnerships or joint ventures in which the Company or
any of its Subsidiaries owns less than fifty percent (50%) of the partnership interests or
joint venture interests.” 

	

          
          Section 1.2     Revolving Termination  Date.
In Section 1.01 of the Credit Agreement, in clause
(a) of the definition of  “Revolving Termination Date”, the phrase “November
30, 2002” is hereby  changed to read “November 30, 2003".  

          
          Section 1.3     Interest Coverage Ratio.  Section 7.12(b) of the Credit Agreement is hereby changed
to read as follows: 

	 	          
“(b)        permit its Interest Coverage Ratio as determined at the end of any fiscal  quarter to be less
than 1.50 to 1.00.”

	

ARTICLE 2.     MATTERS GENERALLY.

          
          Section 2.1     Facility Fee. The  Company shall pay to the Bank, simultaneously with the
execution and delivery of this  Amendment, a facility fee in the amount of $15,000. Such
fee shall be nonrefundable and  shall be in addition to all other fees and amounts
required to be paid by the Bank under  the Credit Agreement and this Amendment.  

          
          Section 2.2     Software Associates  International, LLC. The Company acknowledges and agrees that
its Subsidiary, Software  Associates International, LLC, is a Required Guarantor, and the
Company shall cause it to  execute and deliver to the Bank a Subsidiary Guaranty within
ten (10) days after the date  of this Amendment.  

          
          Section 2.3     Representations and Warranties.  The Company hereby represents
and warrants that: 

	 	          
(a)     All
the representations and warranties set forth in the Credit Agreement are  true and
complete on and as of the date hereof, with the same effect as though  made on and as of
the date hereof (except to the extent such representations and  warranties expressly
refer to an earlier date, in which case they shall be true  and complete as of such
earlier date); 

	 	          
(b)     No  Default and no Event of Default exists; 

	 	         
(c)     The  Company has no offset, recoupment or defense with respect to any of its  obligations
under the Credit Agreement or any other Loan Document, and no claim  or counterclaim
against the Bank whatsoever (any such offset, recoupment,  defense, claim or counterclaim
as may now exist being hereby irrevocably waived  by the Company); and 

	 	          
(d)     This Amendment has been duly authorized by all necessary action on the part of  the
Company and has been duly executed and delivered by the Company. 

	

          
          Section 2.4     Continuing Effect.  Except as otherwise expressly provided in this Amendment, all
the terms and conditions of  the Credit Agreement shall continue in full force and
effect. Also, each other Loan  Document shall continue in full force and effect.  

          
          Section 2.5      Entire Agreement.  This Amendment constitutes the entire agreement and
understanding of the parties hereto  with respect to an amendment of the Credit
Agreement, and it supersedes and replaces all  prior and contemporaneous agreements,
discussions and understandings (whether written or  oral) with respect to such amendment.  

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          Section 2.6     Expenses. The  Company shall pay all reasonable expenses incurred by the Bank in
connection with the  transaction contemplated by this Amendment, including the reasonable
fees and  disbursements of counsel for the Bank.  

          
          Section 2.7     Counterparts. This  Amendment may be executed in two or more counterparts, each
of which shall be deemed to be  an original, and all of which taken together shall
constitute one and same agreement.  

          
          Section 2.8     Guarantor Consent.  Fremantle Financial Services, Inc., which is a Subsidiary
Guarantor, shall execute this  Amendment in the space provided below to confirm (a) the
consent of such Subsidiary  Guarantor to the terms of this Amendment, and (b) that the
Subsidiary Guaranty of such  Subsidiary Guarantor remains in full force and effect, and
(c) that such Subsidiary  Guarantor has no offset, recoupment or defense with respect to
any of such Subsidiary  Guarantor’s obligations under such Subsidiary Guarantor’s
Subsidiary Guaranty  and no claim or counterclaim against the Bank whatsoever (any such
offset, recoupment,  defense, claim or counterclaim as may now exist being hereby
irrevocably waived by such  Subsidiary Guarantor). (The Company confirms that Dendrite
Delaware, Inc., which had also  been a Subsidiary Guarantor, has merged into the
Company.)  

          
          Section 2.9     Effectiveness.
  This Amendment shall not become effective unless and until it
shall have been executed and  delivered by all the parties hereto.  

             
       IN
WITNESS WHEREOF, the parties hereto have executed this Amendment as of the day and year
first above written.  

			DENDRITE INTERNATIONAL, INC.

By: KATHLEEN DONOVAN
——————————————

Name (Print):  Kathleen Donovan
Title:   Vice President and Treasurer

			JPMORGAN CHASE BANK

By:  LEONARD NOLL 
——————————————

        Leonard Noll
        President

	SUBSIDIARY GUARANTOR:
(As to Section 2.8 above)

FREMANTLE FINANCIAL SERVICES, INC.

By:  MICHAEL KOTRAN 
——————————————

Name (Print):  Michael Kotran
Title:   Secretary		

 3Exhibit 4.3 -- Addendum to the Workout

 Exhibit 4.3 
  
 ADDENDUM TO 
 WORKOUT AND COLLATERAL RELEASE AGREEMENT 
  
 THIS ADDENDUM TO WORKOUT AND COLLATERAL RELEASE AGREEMENT, dated as of September 23, 2002 (this “Addendum”) is made by and among NETPLEX SYSTEMS,
INC., a Delaware corporation (“Systems”), THE NETPLEX GROUP, INC., a New York corporation (“Group”) and WATERSIDE CAPITAL CORPORATION, a Virginia corporation (“Waterside”), and is an addendum to that
certain WORKOUT AND COLLATERAL RELEASE AGREEMENT, dated as of May 15, 2002 (the “Agreement”) by and among the parties hereto. All capitalized terms not otherwise defined herein shall have the meanings ascribed to them by the
Agreement. 
  
 NOW THEREFORE, in consideration of the premises and the mutual covenants contained herein and in the
Agreement, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows. 
  
 1.    Systems shall deliver to Waterside the Secured Commercial Note in the principal amount of $500,000 payable to the order of Waterside, made as of May 15, 2002, and executed by Systems as of even date with
this Addendum (the “$500,000 Note”) and Waterside acknowledges that Systems has paid all interest that has accrued under such note through September 1, 2002, and that the next payment of interest under such note is not due and payable
until October 1, 2002. 
  
 2.    In exchange for the delivery of the note referenced in Section 1 above, Waterside shall
deliver to Systems for cancellation 500 shares of Systems’ Class A Preferred Stock. 
  
 3.    Group shall cause
Contractors Resources to execute and deliver the security agreement executed by Contractors Resources as of even date with this Addendum. 
  
 4.    Group and Waterside shall amend the terms of that certain Secured Commercial Note made payable by Group to the order of Waterside in the principal amount of $900,000 and dated September 28, 2001, pursuant to
that certain First Amendment to Secured Commercial Note executed by Group as even date with this Addendum (the “First Amendment to Secured Commercial Note”). 
  
 5.    Waterside agrees to subordinate its security interests in the assets of Group, Systems and Contractors Resources to the interests of Wells Fargo Business Credit, Inc. (or a
similar senior institutional lender) as a senior institutional lender (the “Institutional Lender”) on terms and conditions acceptable to Secured Party in the exercise of its reasonable business judgment, and Waterside agrees to permit and
authorize Group, Systems and Contractors Resources to file such amended financing statements as are reasonably necessary to evidence such subordination subject to Waterside’s reasonable approval; provided that the aggregate borrowings (or
amounts advanced in factorings) of Group, Systems and Contractors Resources do not exceed eighty
 

 
percent (80%) of the book value of the receivables of the SI Division of Systems (the “SI Division”) which are 90 days or less past due (the “Borrowing Base”). 

 
 6.    Waterside agrees to consider in good faith increasing the Borrowing Base to include the assets of Contractors Resources in
the event Contractors Resources has the opportunity to finance its assets. 
  
 7.    Waterside consents to the sale of
the SI Division (including by way of asset sale, sale of securities, merger, consolidation or the like) provided that Systems pays Waterside $100,000 plus twenty percent (20%) of the proceeds from any such sale (other than a sale to Waterside or its
affiliates), when and as received (including but not limited to cash proceeds or debt financing for any purchaser of the SI Division, all to be applied as follows: first to any past due accounts that Group or Systems has with the Waterside, second
to any late payment fees under such accounts, if any, third to past due interest owed with respect to such accounts, fourth to any past due dividends owed by Group or Systems to Waterside and fifth to the principal balance of any debt owed by Group
or Systems to Waterside. 
  
 8.    The parties agree to promptly document the exchange of 500 shares of Class A
Preferred Stock of System’s for 500 shares of a class of preferred stock of Group to be designated Class F Preferred Stock of Group having substantially the same rights and privileges with respect to Group as exists for the Class A Preferred
Stock of Systems being exchanged by Waterside, except to the extent such rights and privileges conflict with law or the terms of any outstanding securities of Group; provided, however in the case of such conflict the parties will negotiate in good
faith for mutually agreeable terms; and provided, further, that, to the extent not precluded by law or the terms of any outstanding securities of Group, the Class F Preferred Stock shall include the following terms: 
  
 At any time after the earliest of (a) a Change of Control (as defined below), (b) the occurrence of an event of default or breach by Group under the Master
Agreement or the Workout Agreement or any documents evidencing, guaranteeing, securing or executed by Group in connection with the Master Agreement, the Workout Agreement or any other agreement entered into by Group with Waterside, all subject to
any applicable grace, notice and cure periods or (c) the failure of Group to make timely dividend payments on the Class F Preferred Stock, Waterside shall have the right to require Group to redeem or purchase up to all of the shares of the Class F
Preferred Stock held by Waterside for $500,000, plus accrued and unpaid dividends. If a redemption has not occurred by May 15, 2006, Waterside shall have the right to require Group to convert up to all of the shares of Class F Preferred Stock held
by Waterside into shares of Group Common Stock at the rate of 200 shares of Group Common Stock for each share of Class F Preferred Stock held by Waterside. Following such notice, Group shall within 5 business days convert such outstanding shares of
Class F Preferred Stock held by Waterside by delivering to Waterside a stock certificate for the appropriate number of shares of Group Common Stock. A “Change of Control” shall be deemed to occur on (x) the date that Gene Zaino shall cease
to serve as either the Chairman of the Board of Group or as its President, or (y) any consolidation, merger, reorganization, sale of substantially all of the assets of Group or other similar transaction with or into any other corporation or other
entity or person, or any other corporate reorganization in which the shareholders of Group immediately before such consolidation, merger or
 

 
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reorganization, or any transaction or related series of transactions do not hold shares possessing the majority of votes in the election of directors immediately after such consolidation, merger
or reorganization, or any transaction or series of transactions; provided, however, a Change of Control shall not be deemed to have occurred in the event Netplex Systems, Inc. sells its SI Division based in Charlotte, North Carolina ( including by
way of asset sale, sale of securities, merger, consolidation or the like) provided that: Netplex Systems makes the payments required by Section 7 of the Addendum to Workout and Collateral Release Agreement. If Group voluntarily redeems the Class F
Preferred Stock on or before May 15, 2006, Group shall pay Waterside a $66,500 early redemption fee. 
  
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 IN WITNESS WHEREOF, the parties have executed this agreement as of the date set
forth above. 
  
 
	 WATERSIDE CAPITAL CORPORATION
 
	 
	 By:                                     
                                        
                              
 
	 Name:                                    
                                        
                         
 
	 Title:                                    
                                        
                            
 
	 
	 NETPLEX SYSTEMS, INC.
 
	 
	 By:                                     
                                        
                              
 
	 Name:                                    
                                        
                         
 
	 Title:                                    
                                        
                            
 
	 
	 THE NETPLEX GROUP, INC.
 
	 
	 By:                                     
                                        
                              
 
	 Name:                                    
                                        
                         
 
	 Title:                                    
                                        
                            
 

 

 
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