Document:

Exhibit 10.1

 

AMENDMENT #1 TO

AMENDED AND RESTATED EMPLOYMENT AGREEMENT

 

This AMENDMENT #1 TO AMENDED AND RESTATED EMPLOYMENT AGREEMENT (this “Amendment”) is dated as of August 29, 2012, between Orthofix Inc. (the “Company”) and Robert S. Vaters (the “Executive”).

 

WHEREAS, the Executive and the Company have previously entered into an Amended and Restated Employment Agreement on June 15, 2011, which became effective as of August 1, 2011 (the “Agreement”); and

 

WHEREAS, the parties desire to enter into this Amendment to amend and revise the Agreement as set forth herein;

 

NOW, THEREFORE, in consideration of the foregoing, the mutual covenants and agreements of the parties contained herein and other good and valuable consideration, the receipt of which is hereby acknowledged, the parties hereto agree as follows:

 

1.             Section 5.1(c) of the Agreement is amended and restated in its entirety as follows:

 

“except for the Excepted Grants (as defined below), all stock options, stock appreciation rights or similar stock-based rights granted to the Executive shall vest in full and be immediately exercisable and any risk of forfeiture included in restricted or other stock grants previously made to the Executive (except for the Excepted Grants) shall immediately lapse.  For any stock options granted on or prior to June 29, 2009, if the Executive’s employment is terminated pursuant to Section 4.2, 4.3, 4.4 or 4.5 during or after the Term, the Executive shall have until the earlier of (i) five (5) years from the date of termination, or (ii) the latest date that each such stock option would otherwise expire by its original terms had the Executive’s employment not terminated to exercise such outstanding stock options.  Except with respect to the Excepted Grants, for any stock options or stock appreciation rights granted after June 29, 2009, if the Executive’s employment is terminated pursuant to Section 4.2, 4.3, 4.4 or 4.5 during or after the Term, the Executive shall have until the earlier of (i) two (2) years from the date of termination, or (ii) the latest date that each such stock option or stock appreciation right would otherwise expire by its original terms had the Executive’s employment not terminated to exercise such vested and outstanding stock options or stock appreciation rights. The vesting and extension of the exercise periods set forth in this Section 5.1(c) with respect to grants other than the Excepted Grants shall occur notwithstanding any provision in any Plans or related grant documents which provides for a lesser vesting or shorter period for exercise upon termination by the Company without Cause (which for this purpose shall include a termination by the Executive for Good Reason), notwithstanding anything to the contrary in any Plans or grant documents; provided, however, and for the avoidance of doubt, nothing in this Agreement shall be construed as or imply that this Agreement does or can grant greater rights than are allowed under the terms and conditions of the Plans; provided, further, and for the avoidance of doubt, the first sentence of this Section 5.1(c) shall not apply to a termination of employment after the Term.  For the avoidance of doubt, none of the rights set forth in this Section 5.1(c) shall apply with respect to the Excepted Grants.  For purposes of this Agreement, “Excepted Grants” shall mean (i) that certain grant of stock options to purchase 60,000 shares of common stock of Parent made to

 

 

the Executive as of June 25, 2012 and (ii) that certain grant of 40,000 restricted shares of common stock of Parent made to the Executive as of July 31, 2012.”

 

2.             Except as otherwise provided herein, the Agreement shall remain in full force and effect in accordance with its original terms.

 

IN WITNESS WHEREOF, the parties have executed and delivered this Amendment as of the date first set forth above.

 

 

	
 
    	
 
    	
ORTHOFIX   INC.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Jeffrey M. Schumm
    
	
 
    	
 
    	
Name:   Jeffrey M. Schumm
    
	
 
    	
 
    	
Title:   Secretary
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
EXECUTIVE
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
/s/   Robert S. Vaters
    
	
 
    	
 
    	
Robert   S. Vaters
    

 

 

Agreed and Acknowledged:

 

ORTHOFIX INTERNATIONAL N.V.

 

 

	
By:   
    	
/s/   Jeffrey M. Schumm
    	
 
    
	
Name:   
    	
Jeffrey   M. Schumm
    	
 
    
	
Title:   
    	
Corporate   SecretaryExhibit 10.2

 

AMENDMENT #3 TO

AMENDED AND RESTATED EMPLOYMENT AGREEMENT

 

This AMENDMENT #3 TO AMENDED AND RESTATED EMPLOYMENT AGREEMENT (this “Amendment”) is dated as of August 29, 2012, between Orthofix Inc. (the “Company”) and Michael Finegan (the “Executive”).

 

WHEREAS, the Executive and the Company have previously entered into an Amended and Restated Employment Agreement entered into as of July 1, 2009, as amended by Amendment #1 thereto dated as of August 4, 2009 and Amendment #2 thereto dated as of October 1, 2011 (collectively, the “Agreement”); and

 

WHEREAS, the parties desire to enter into this Amendment to amend and revise the Agreement as set forth herein;

 

NOW, THEREFORE, in consideration of the foregoing, the mutual covenants and agreements of the parties contained herein and other good and valuable consideration, the receipt of which is hereby acknowledged, the parties hereto agree as follows:

 

1.             Section 5.1(c) of the Agreement is amended and restated in its entirety as follows:

 

“except for the Excepted Grants (as defined below), all stock options, stock appreciation rights or similar stock-based rights granted to the Executive shall vest in full and be immediately exercisable and any risk of forfeiture included in restricted or other stock grants previously made to the Executive (except for the Excepted Grants) shall immediately lapse.  For any stock options granted on or prior to June 29, 2009, if the Executive’s employment is terminated pursuant to Section 4.2, 4.3, 4.4 or 4.5 during or after the Term, the Executive shall have until the earlier of (i) five (5) years from the date of termination, or (ii) the latest date that each such stock option would otherwise expire by its original terms had the Executive’s employment not terminated to exercise such outstanding stock options.  Except with respect to the Excepted Grants, for any stock options or stock appreciation rights granted after June 29, 2009, if the Executive’s employment is terminated pursuant to Section 4.2, 4.3, 4.4 or 4.5 during or after the Term, the Executive shall have until the earlier of (i) two (2) years from the date of termination, or (ii) the latest date that each such stock option or stock appreciation right would otherwise expire by its original terms had the Executive’s employment not terminated to exercise such vested and outstanding stock options or stock appreciation rights. The vesting and extension of the exercise periods set forth in this Section 5.1(c) with respect to grants other than the Excepted Grants shall occur notwithstanding any provision in any Plans or related grant documents which provides for a lesser vesting or shorter period for exercise upon termination by the Company without Cause (which for this purpose shall include a termination by the Executive for Good Reason), notwithstanding anything to the contrary in any Plans or grant documents; provided, however, and for the avoidance of doubt, nothing in this Agreement shall be construed as or imply that this Agreement does or can grant greater rights than are allowed under the terms and conditions of the Plans; provided, further, and for the avoidance of doubt, the first sentence of this Section 5.1(c) shall not apply to a termination of employment after the Term.  For the avoidance of doubt, none of the rights set forth in this Section 5.1(c) shall apply with respect to the Excepted Grants.  For purposes of this Agreement, “Excepted Grants” shall mean (i) that certain grant of stock options to purchase 23,000 shares of common stock of Parent made to the Executive as of June 25, 2012 and (ii) that certain grant of 15,000 restricted shares of common stock of Parent made to the Executive as of July 31, 2012.”

 

 

2.             Except as otherwise provided herein, the Agreement shall remain in full force and effect in accordance with its original terms.

 

IN WITNESS WHEREOF, the parties have executed and delivered this Amendment as of the date first set forth above.

 

 

	
 
    	
 
    	
ORTHOFIX   INC.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Robert S. Vaters
    
	
 
    	
 
    	
Name:   Robert S. Vaters
    
	
 
    	
 
    	
Title:   President and Chief Executive Officer
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
EXECUTIVE
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
/s/   Michael Finegan
    
	
 
    	
 
    	
Michael   Finegan
    

 

 

Agreed and Acknowledged:

 

ORTHOFIX INTERNATIONAL N.V.

 

 

	
By:   
    	
/s/   Robert S. Vaters
    	
 
    
	
Name:   
    	
Robert   S. Vaters
    	
 
    
	
Title:   
    	
President   and Chief Executive OfficerExhibit 10.1

 

AMENDMENT NO. 1 TO CREDIT AGREEMENT

 

This Amendment No. 1 to Credit Agreement dated as of August 31, 2012 (this “Amendment”) is entered into by and among Guess ?, Inc. (the “Borrower”) and the Lenders party hereto with reference to the Credit Agreement, dated as of July 6, 2011 (as amended, restated, extended, supplemented or otherwise modified in writing prior to the date hereof, the “Credit Agreement”), among the Borrower, the Lenders from time to time party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent, L/C Issuer and Swing Line Lender.  Capitalized terms used in this Amendment and not otherwise defined herein are used with the meanings set forth for those terms in the Credit Agreement.

 

WHEREAS, pursuant to Section 2.14 of the Credit Agreement, the Borrower has notified the Administrative Agent and the Lenders that it intends to increase (the “2012 Increase”) the Aggregate Commitments by $100,000,000 on or before September 30, 2012;

 

WHEREAS, certain Lenders have agreed to increase their Commitments and certain Additional Lenders have agreed to provide new Commitments in an aggregate amount equal to the 2012 Increase; and

 

WHEREAS, the Borrower has requested that the Administrative Agent and the Lenders agree to certain amendments to the Credit Agreement prior to the 2012 Increase.

 

NOW, THEREFORE, in consideration of the premises and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:

 

1.             Amendments.  Effective as of the date hereof and subject to the satisfaction of the conditions precedent set forth in Section 2 of this Amendment, the Credit Agreement is hereby amended as follows:

 

(a)           Section 1.01 of the Credit Agreement is hereby amended by inserting, in alphabetical order, the following new defined term:

 

“2012 Increase” means the increase to the Aggregate Commitments by $100,000,000 by certain Lenders and certain Additional Lenders on or before September 30, 2012.

 

(b)           The definition of “Approved Currency Sublimit” in Section 1.01 of the Credit Agreement is hereby amended by replacing the reference therein to “$50,000,000” with a reference to “$200,000,000”.

 

(c)           The definition of “Consolidated Fixed Charge Coverage Ratio” in Section 1.01 of the Credit Agreement is hereby amended by replacing the reference therein to “$75,000,000” with a reference to “$125,000,000”.

 

 

(d)           The definition of “EBITDAR” in Section 1.01 of the Credit Agreement is hereby amended by replacing the reference therein to “$75,000,000” with a reference to “$125,000,000”.

 

(e)           The definition of “Total Adjusted Leverage Ratio” in Section 1.01 of the Credit Agreement is hereby amended by replacing the reference therein to “$75,000,000” with a reference to “$125,000,000”.

 

(f)          Section 2.14(a) of the Credit Agreement is hereby amended by replacing the reference therein to “$100,000,000” with a reference to “$200,000,000, which amount shall automatically reduce to $100,000,000 without further action by any party upon the earlier to occur of (x) consummation of the 2012 Increase and (y) September 30, 2012”.

 

(g)          Section 7.02(j) of the Credit Agreement is hereby amended by replacing the reference therein to “$250,000,000” with a reference to “$300,000,000”.

 

(h)         Section 7.02(r) of the Credit Agreement is hereby amended by replacing the reference therein to “$400,000,000” with a reference to “$500,000,000”.

 

2.             Conditions Precedent.  This Amendment shall become effective on the date (the “Amendment Effective Date” that the Administrative Agent shall have received each of the following:

 

(a)           counterparts of this Amendment duly executed by the Borrower, Lenders constituting Required Lenders and the Administrative Agent;

 

(b)           a written consent hereto (the “Consent”) executed by the Guarantors in substantially the form of Exhibit A attached hereto;

 

(c)           a certificate of a Responsible Officer of the Borrower stating that (A) the representations and warranties contained in Article V of the Credit Agreement and in the other Loan Documents are true and correct in all material respects on and as of the Amendment Effective Date, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct in all material respects as of such earlier date, and except that for purposes of such certification, the representations and warranties contained in subsections (a) and (b) of Section 5.05 of the Credit Agreement shall be deemed to refer to the most recent statements furnished pursuant to clauses (a) and (b), respectively, of Section 6.01 of the Credit Agreement, and (B) no Default has occurred and is continuing; and

 

(d)           all fees required to be paid to the Administrative Agent or any Lender and all expenses for which reasonably detailed invoices have been presented on or before the Amendment Effective Date shall have been paid.

 

2

 

3.             Representations and Warranties.  The Borrower represents and warrants to the Administrative Agent and the Lenders that (a) the representations and warranties contained in Article V of the Credit Agreement and in the other Loan Documents are true and correct in all material respects on and as of the date hereof, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct in all material respects as of such earlier date, and except that for purposes of such certification, the representations and warranties contained in subsections (a) and (b) of Section 5.05 of the Credit Agreement shall be deemed to refer to the most recent statements furnished pursuant to clauses (a) and (b), respectively, of Section 6.01 of the Credit Agreement, and (b) no Default now exists.

 

4.             Confirmation. On and after the Amendment Effective Date, each reference in the Credit Agreement to “this Agreement”, “hereunder”, “hereof”, “herein” or words of like import referring to the Credit Agreement, and each reference in the other Loan Documents to the “Credit Agreement”, “thereunder”, “thereof” or words of like import referring to the Credit Agreement shall mean and be a reference to the Credit Agreement, as amended by the Amendment.  In all other respects, the terms of the Credit Agreement and the other Loan Documents are hereby confirmed.

 

5.             Counterparts.  This Amendment may be executed in any number of counterparts, and all of such counterparts taken together shall be deemed to constitute one and the same instrument.

 

6.             Governing Law.  THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.  In addition to and without limitation of any of the foregoing, this Amendment shall be deemed to be a Loan Document and shall otherwise be subject to all of the terms and conditions contained in Sections 10.14 and 10.15 of the Credit Agreement, as amended by the Amendment, mutatis mutandi.

 

[Remainder of page intentionally left blank.]

 

3

 

IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the date first written above by their duly authorized representatives.

 

	
 
    	
GUESS   ?, INC.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Dennis Secor
    
	
 
    	
Name:   Dennis Secor
    
	
 
    	
Title:   Senior Vice President and Chief Financial Officer
    

 

4

 

	
 
    	
JPMORGAN   CHASE BANK, N.A., as a Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Keith Winzenried
    
	
 
    	
Name:
    	
Keith   Winzenried
    
	
 
    	
Title:
    	
Credit   Executive
    

 

5

 

	
 
    	
Bank   of America, as a Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Adam Feit
    
	
 
    	
Name:
    	
Adam   Feit
    
	
 
    	
Title:
    	
Senior   Vice President
    

 

6

 

	
 
    	
Bank   of the West, as a Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Shikha Rehman
    
	
 
    	
Name:
    	
Shikha   Rehman
    
	
 
    	
Title:
    	
Senior   Vice President
    

 

7

 

	
 
    	
HSBC Bank USA, National 
    
	
 
    	
Association, as a Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Dean Lochrie
    
	
 
    	
Name:
    	
Dean Lochrie
    
	
 
    	
Title:
    	
Vice President
    

 

8

 

	
ACKNOWLEDGED   BY:
    	
 
    
	
 
    	
 
    
	
JPMORGAN   CHASE BANK, N.A.,
    	
 
    
	
as   Administrative Agent
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
By:
    	
/s/   Keith Winzenried
    	
 
    
	
Name:
    	
Keith   Winzenried
    	
 
    
	
Title:
    	
Credit   Executive
    	
 
    

 

9

 

Exhibit A to Amendment No. 1

 

CONSENT

 

Dated as of August 31, 2012

 

Each of the undersigned hereby (a) acknowledges that (i) it has reviewed Amendment No. 1, dated as of August 31, 2012 (the “Amendment”; capitalized terms used and not otherwise defined herein have the meanings assigned to such terms in the Amendment) to the Credit Agreement, dated as of July 6, 2011, among Guess ?, Inc., as the Borrower, the Lenders party thereto and the Administrative Agent, (ii) the Guaranty remains in full force and effect, and (iii) under the terms of the Guaranty, it guarantees the Guaranteed Obligations (as defined in the Guaranty), and (b) agrees that the Guaranty is hereby reaffirmed, ratified, approved and confirmed in each and every respect, except that, upon the effectiveness of, and on and after the date of, this Amendment, each reference in the Guaranty to the Credit Agreement, “thereunder”, “thereof” or words of like import referring to the Credit Agreement, shall mean and be a reference to the Credit Agreement as amended by the Amendment.

 

 

	
 
    	
GUESS.com, Inc.
    
	
 
    	
GUESS?   Retail, Inc.
    
	
 
    	
GUESS?   Value, LLC
    
	
 
    	
GUESS?   Bermuda Holdings, LLC
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    
	
 
    	
Title:
    

 

A-1

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00207-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00207-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00207-of-00352.parquet"}]]