Document:

Exhibit 10.2

 

EMPLOYEE RESTRICTED STOCK UNIT AWARD AGREEMENT

 

Under the

 

JONES ENERGY, INC. 2013 OMNIBUS INCENTIVE PLAN

 

THIS EMPLOYEE RESTRICTED STOCK UNIT AWARD AGREEMENT (this “Award”) is made as of May     , 2014 (the “Grant Date”), by and between Jones Energy, Inc., a Delaware corporation (the “Company”), and                      (the “Grantee”).

 

W I T N E S S E T H:

 

WHEREAS, pursuant to the Jones Energy, Inc. 2013 Omnibus Incentive Plan (the “Plan”), the Compensation Committee (the “Committee”) of the Board of Directors of the Company (the “Board”) has determined that it would be in the interest of the Company and its stockholders to grant restricted stock units of the Company (“Restricted Stock Units”), each of which represents the value of one share of Company Class A Common Stock, par value $0.001 per share (the “Common Stock”), as provided herein, in order to encourage the Grantee to remain in the employ of the Company or its Subsidiaries, to encourage the sense of proprietorship of the Grantee in the Company and to stimulate the active interest of the Grantee in the development and financial success of the Company.

 

NOW THEREFORE, the Company awards the Restricted Stock Units to the Grantee, subject to the following terms and conditions of this Award:

 

1.                                      Grant of Restricted Stock Units.  Subject to the terms and conditions contained herein, including, but not limited to, the restrictions in Sections 3 and 4 of this Award, the Company hereby grants to the Grantee an award of                                  Restricted Stock Units under the Plan.  Capitalized terms used, but not otherwise defined, herein shall have the meanings set forth in the Plan.

 

2.                                      Establishment of Bookkeeping Account.  The grant of Restricted Stock Units pursuant to this Award shall be implemented by a credit to a bookkeeping account maintained by the Company evidencing the accrual in favor of the Grantee of the unfunded and unsecured right to receive the value of such Restricted Stock Units, which right shall be subject to the terms, conditions and restrictions set forth in the Plan and to the further terms, conditions and restrictions set forth in this Award.

 

3.                                      Transfer Restrictions.  Except as expressly provided herein, this Award and the Restricted Stock Units are non-transferrable and may not otherwise be assigned, pledged, hypothecated or otherwise disposed of and shall not be subject to execution, attachment or similar process.  Upon any attempt to effect any such disposition, or upon the levy of any such process, the Award provided for herein shall immediately become null and void, and the Restricted Stock Units shall be immediately cancelled and forfeited.

 

4.                                      Restrictions.  Unless earlier vested pursuant to Section 5 or Section 7 of this Award, the restrictions on the Restricted Stock Units shall lapse, and the Restricted Stock Units shall vest, in the following percentages on the following dates (each a “Vesting Date”):

 

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(i)                                     33 1/3% on April 1, 2015;

 

(ii)                                  33 1/3% on April 1, 2016; and

 

(iii)                               33 1/3% on April 1, 2017;

 

provided, however, that the Grantee is continuously employed by the Company or a Subsidiary from the Grant Date through each of the above respective Vesting Dates.  Any fractional shares shall be rounded-up to the next whole share (not to exceed the total number of shares of Restricted Stock Units granted under this Award).  If the Grantee does not remain continuously employed by the Company or a Subsidiary until the Vesting Dates specified above, then (except as provided in Section 5 or Section 7) all outstanding unvested Restricted Stock Units shall be cancelled and forfeited immediately as of the termination date of the Grantee’s employment.

 

5.                                      Vesting Due to Death or Disability.  Notwithstanding any provision in this Award to the contrary, if the Grantee’s employment terminates due to death or Disability prior to the final Vesting Date (and a Change in Control), provided the Grantee is continuously employed by the Company or a Subsidiary from the Grant Date through such termination date (the “Vesting Date” for purposes of this Section 5), any unvested Restricted Stock Units as of the date of such termination shall immediately vest in full.

 

6.                                      Distribution Following Vesting.  As soon as administratively feasible following the Vesting Date or vesting event of Restricted Stock Units pursuant to Section 4 or 5 of this Award, respectively, but no later than 15 days after the date such vesting occurs and subject to the withholding referenced in Section 10, the Company will cause to be issued and delivered to the Grantee (or Grantee’s estate in the event of death) one share of Common Stock (in certificate or electronic form) with respect to each vested Restricted Stock Unit.

 

7.                                      Change in Control.

 

(a)                                 In the event of a Change in Control (as defined in the Plan) prior to the final Vesting Date, provided the Grantee is continuously employed by the Company or a Subsidiary from the Grant Date through the date of the Change in Control, then, for purposes of Section 4 of this Award, except as provided in Section 7(b) below, the Restricted Stock Units shall continue to vest on each of the Vesting Dates occurring after the date of the Change in Control, provided the Grantee remains continuously employed by the Company or a Subsidiary from the date of the Change of Control through such Vesting Dates (except as provided in Section 7(b) below).  The vested Restricted Stock Units will be distributed to the Grantee as soon as practicable after each Vesting Date occurring after the date of the Change in Control, but in no event later than the 15th day after such vesting occurs and subject to the withholding referenced in Section 10, in the same percentage of cash (if any) and equity (if any) for each unit as is received by shareholders of the Company in connection with the Change in Control for a share of Common Stock.  In the event all or a portion of the Performance Units are paid in cash, at the time of payment the Grantee will receive an additional amount in cash for interest on such cash amount based on a rate of 6%, compounded annually, from the date of the Change in Control until the applicable Vesting Date (the “interest rate”).

 

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(b)                                 The foregoing notwithstanding, if after the date of the Change in Control but prior to the final Vesting Date the Grantee’s employment is (i) involuntarily terminated by the Company or its successor for any reason other than Cause (as defined below), (ii) terminated by the Grantee for Good Reason (as defined below), (iii) terminated due to death or Disability, then the Restricted Stock Units determined under Section 7(a) that have not been distributed as of the Grantee’s termination date will be distributed to the Grantee within 30 days following the Grantee’s termination date.  In the event all or a portion of the Restricted Stock Units are paid in cash, at the time of payment the Grantee will receive an additional amount in cash interest on such cash amount for the period beginning on the date of the Change in Control and ending on the Grantee’s termination based on the interest rate.  If after the date of the Change in Control but prior to the final Vesting Date the Grantee’s employment is (x) involuntarily terminated by the Company or its successor for Cause or (y) voluntarily terminated by the Grantee for any reason other than Good Reason, then the Grantee shall have no rights under this Award and all the Performance Units shall be forfeited as of his or her termination date.

 

(c)                                  For purposes of Section 7(b), “Cause” shall mean, if not otherwise defined in an employment agreement between the Grantee and the Company or its successor in effect as of the date of his or her termination, the Grantee’s (i) failure to reasonably and substantially perform his or her duties (other than as a result of physical or mental illness or injury); (ii) willful misconduct or gross negligence that has caused or is reasonably expected to result in material injury to the Company’s or successor’s business, reputation or prospects; or (iii) conviction or plea of nolo contendere with respect to the commission of a felony or other serious crime involving moral turpitude.

 

(d)                                 For purposes of Section 7(b), “Good Reason” shall mean the occurrence of any of the following events:  (i) a material diminution in the Grantee’s base salary; (ii) a material diminution in the Grantee’s position, authority, duties or responsibilities immediately prior to the date of the Change in Control; or (iii) the involuntary relocation of the geographic location of the Grantee’s principal place of employment by more than 50 miles from the location of the Grantee’s principal place of employment as of the Grant Date.  Notwithstanding the foregoing, any assertion by the Grantee of a termination of employment for Good Reason shall not be effective unless all of the following requirements are satisfied:  (1) the condition described in clause (i), (ii) or (iii) above giving rise to the Grantee’s termination of employment must have arisen without the Grantee’s consent; (2) the Grantee must provide written notice to the Company of such condition in accordance with Section 12 within 30 days of the initial existence of the condition; (3) the condition specified in such notice must remain uncorrected for 30 days after receipt of such notice by the Company (“cure period”); and (4) the Grantee’s termination of employment must occur within 30 days after the end of the cure period.  If the Grantee does not provide the notice described in clause (2) above, or if the Company corrects the event during the cure period as described in clause (3) above, or the Grantee does not terminate employment as described in clause (4) above, then the event shall not constitute Good Reason.

 

8.                                      Adjustments.  As provided in Section 15 of the Plan, certain adjustments may be made to the Restricted Stock Units upon the occurrence of events or circumstances described in Section 15 of the Plan.

 

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9.                                      Tax Withholding; Code Section 409A.

 

(a)                                 The obligation of the Company to issue and deliver to the Grantee (in certificate or electronic form) shares of Common Stock as provided in Section 6 hereof shall be subject to the receipt by the Company from the Grantee of any withholding taxes required as a result of the award of the Restricted Stock Units, vesting or lapsing of restrictions thereon.  Unless the Committee or the Board shall determine otherwise at any time after the date hereof, the Grantee may satisfy all or part of such withholding tax requirement by electing to sell to the Company a designated number of shares of Common Stock that otherwise would have been delivered to the Grantee in settlement of this Award, the price per share of which shall be equal to the Fair Market Value of such shares, provided that the aggregate value of the shares sold does not exceed the minimum required tax withholding obligation.

 

(b)                                 The Restricted Stock Units granted under this Award are intended to be exempt from Code Section 409A under the “short term deferral exclusion” and ambiguous provisions of this Award, if any, shall be construed and interpreted in a manner consistent with such intent.

 

10.                               Incorporation of Plan Provisions.  This Award and the award of Restricted Stock Units hereunder are made pursuant to the Plan and are subject to all of the terms and provisions of the Plan as if the same were fully set forth herein.  In the event that any provision of this Award conflicts with the Plan, the provisions of the Plan shall control.  The Grantee acknowledges receipt of a copy of the Plan and agrees that all decisions under and interpretations of the Plan by the Committee shall be final, binding and conclusive upon the Grantee.

 

11.                               No Rights to Employment.  Nothing contained in this Award shall confer upon the Grantee any right to continued employment by the Company or any Subsidiary of the Company, or limit in any way the right of the Company or any Subsidiary to terminate or modify the terms of the Grantee’s employment at any time.

 

12.                               Notice.  Unless the Company notifies the Grantee in writing of a different procedure, any notice or other communication to the Company with respect to this Award shall be in writing and shall be delivered personally or sent by courier or first class mail, postage prepaid to the following address:

 

Jones Energy, Inc.

807 Las Cimas Parkway, Suite 350

Austin, Texas 78746

Attn: Corporate Secretary

 

Any notice or other communication to the Grantee with respect to this Award shall be in writing and shall be delivered personally, or shall be sent by courier or first class mail, postage prepaid, to the Grantee’s address as listed in the records of the Company on the Grant Date, unless the Company has received written notification from the Grantee of a change of address.

 

13.                               Compliance with Recoupment Policy.  Any amounts payable, paid, or distributed under this Award are subject to the recoupment policy of the Company as in effect from time to time.

 

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14.                               Miscellaneous.

 

(a)                                 THIS AWARD SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE WITHOUT GIVING EFFECT TO THE PRINCIPLES OF CONFLICT OF LAWS.

 

(b)                                 This Award shall be binding upon and inure to the benefit of the Company and its successors and assigns.

 

(c)                                  The granting of this Award shall not give the Grantee any rights to similar grants in future years.

 

(d)                                 If any term or provision of this Award should be invalid or unenforceable, such provision shall be severed from this Award, and all other terms and provisions hereof shall remain in full force and effect.

 

(e)                                  This Award, including the relevant provisions of the Plan, constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior agreements and understandings, both written and oral, with respect to the subject hereof.  This Award may not be amended, except by an instrument in writing signed by the Company and the Grantee.

 

(f)                                   This Award may be executed in one or more counterparts, each of which shall be an original, but all of which together shall constitute one and the same instrument.

 

	
 
    	
JONES ENERGY, INC.
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
Name:
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
Title:
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
The Grantee acknowledges receipt of a copy of the   Plan, represents that he or she is familiar with the terms and provisions   thereof, and hereby accepts this Award subject to all of the terms and   provisions hereof and thereof.
    
	
 
    	
 
    	
 
    
	
 
    	
GRANTEE
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
Name:
    	
 
    

 

5Exhibit 10.1

 

SECOND AMENDMENT TO CREDIT AND SECURITY AGREEMENT

 

THIS SECOND AMENDMENT (this “Amendment”), dated May 27, 2014, is entered into by and between WELLS FARGO BANK, NATIONAL ASSOCIATION (“Wells Fargo”), and THE SPECTRANETICS CORPORATION, a Delaware corporation (“Company”).

 

RECITALS

 

Company and Wells Fargo are parties to a Credit and Security Agreement dated February 25, 2011 (as amended from time to time, the “Credit Agreement”).  Capitalized terms used in these recitals have the meanings given to them in the Credit Agreement unless otherwise specified.

 

Company has requested that certain amendments be made to the Credit Agreement, which Wells Fargo is willing to make pursuant to the terms and conditions set forth herein.

 

NOW, THEREFORE, in consideration of the premises and of the mutual covenants and agreements herein contained, it is agreed as follows:

 

1.                                      Defined Terms.  Capitalized terms used in this Amendment which are defined in the Credit Agreement shall have the same meanings as defined therein, unless otherwise defined herein.  In addition, Exhibit A of the Credit Agreement is amended by adding or amending and restating, as the case may be, the following definitions:

 

“Affiliate” or “Affiliates” means AngioScore (following consummation of the AngioScore Acquisition), Spectranetics International B.V., Spectranetics Deutschland GmbH and any other Person controlled by, controlling or under common control with Company, including without limitation any Subsidiary of Company.  For purposes of this definition, “control,” when used with respect to any specified Person, means the power to direct the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise.

 

“AngioScore” means AngioScore Inc., a Delaware corporation.

 

“AngioScore Acquisition” means the acquisition by Company of 100% of the ownership interests of AngioScore pursuant to the merger of a newly-formed Subsidiary of Company (“MergerSub”) with and into AngioScore, with AngioScore as the surviving corporation.

 

“AngioScore Convertible Notes” means the unsecured senior notes convertible into Company’s Common Stock to be issued and sold in connection with the AngioScore Acquisition pursuant to a registration statement on Form S-3 filed with the Securities and Exchange Commission on May 27, 2014, including related prospectuses (the “Registration Statement”), and an Indenture to be entered into by Company and Wells Fargo Bank, National Association, as trustee, as supplemented by a Supplemental Indenture to be entered into by Company and Wells Fargo Bank, National Association, as trustee.

 

 

“LIBOR” means the rate per annum determined pursuant to the following formula:

 

	
 
    	
LIBOR
    	
 =
    	
Base LIBOR
    	
 
    
	
 
    	
 
    	
 
    	
100% - LIBOR Reserve Percentage
    	
 
    

 

(a)                                 “Base LIBOR” means the rate per annum for United States dollar deposits quoted by Wells Fargo for the purpose of calculating the effective Floating Rate for loans that reference Daily Three Month LIBOR as the Inter-Bank Market Offered Rate in effect from time to time for three (3) month delivery of funds in amounts approximately equal to the principal amount of such loans.  Company understands and agrees that Wells Fargo may base its quotation of the Inter-Bank Market Offered Rate upon such offers or other market indicators of the Inter-Bank Market as Wells Fargo in its discretion deems appropriate, including but not limited to the rate offered for U.S. dollar deposits on the London Inter-Bank Market.

 

(b)                                 “LIBOR Reserve Percentage” means the reserve percentage prescribed by the Board of Governors of the Federal Reserve System (or any successor) for “Eurocurrency Liabilities” (as defined in Regulation D of the Federal Reserve Board, as amended), adjusted by Wells Fargo for expected changes in such reserve percentage during the applicable term of the Revolving Note.

 

2.                                      Section 5.4 of the Credit Agreement is hereby amended and restated to read in its entirety as follows:

 

“5.4                         Indebtedness.  Company shall not incur, create, assume or permit to exist any indebtedness or liability on account of deposits or letters of credit issued on Company’s behalf, or advances or any indebtedness for borrowed money of any kind, whether or not evidenced by an instrument, except:  (a) Indebtedness described in this Agreement; (b) indebtedness of Company described in Exhibit F; (c) the AngioScore Convertible Notes; and (d) indebtedness secured by Permitted Liens.”

 

3.                                      Section 5.6 of the Credit Agreement is hereby amended and restated to read in its entirety as follows:

 

“5.6                         Investments and Subsidiaries.  Company shall not make or permit to exist any loans or advances to, or make any investment or acquire any interest whatsoever in, any Person or Affiliate, including without limitation any partnership or joint venture, nor purchase or hold beneficially any stock or other securities or evidence of indebtedness of any Person or Affiliate, except:

 

(a)                                 Investments in direct obligations of the United States of America or any of its political subdivisions whose obligations constitute the full faith and credit obligations of the United States of America and have a maturity of one year or less, commercial paper issued by U.S. corporations rated “A 1” or “A 2” by Standard & Poor’s Ratings Services or “P 1” or “P 2” by Moody’s Investors Service or certificates of deposit or bankers’ acceptances having a maturity of one year or less issued by members of the Federal Reserve System having deposits in excess of $100,000,000 (which certificates of deposit or bankers’ acceptances are fully insured by the Federal Deposit Insurance Corporation);

 

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(b)                                 Travel advances to Company’s employees made in the ordinary course of business and in any event not exceeding at any one time an aggregate of $500,000;

 

(c)                                  Prepaid rent not exceeding one month or security deposits;

 

(d)                                 (i) Prior to the consummation of the AngioScore Acquisition, Loans or advances to, or investments in, (A) AngioScore in an aggregate amount not to exceed $1,700,000, or (B) MergerSub, and (ii) after consummation of the AngioScore Acquisition, Loans or advances to, or investments in, AngioScore (subject to the proviso below);

 

(e)                                  The performance of obligations under the AngioScore Convertible Notes (including any redemption or required repurchase of AngioScore Convertible Notes); and

 

(f)                                   Current investments in those Subsidiaries in existence on the Execution Date which are identified on Exhibit D;

 

provided, that if, after the AngioScore Acquisition, Liquidity at any time is less than $15,000,000, Wells Fargo may in its sole discretion take any of the following actions:

 

(w)                               prohibit, restrict or demand repayment of Company’s loans or advances to, or prohibit or restrict investments by Company in, AngioScore;

 

(x)                                 cause Company to require that AngioScore provide to Wells Fargo a Guaranty, together with such other Security Documents, as well as appropriate financing statements (and with respect to all property subject to a mortgage, fixture filings), all in form and substance reasonably satisfactory to Wells Fargo (including being sufficient to grant Wells Fargo a first priority Lien (subject to existing Liens) in and to the assets of AngioScore);

 

(y)                                 cause Company to provide to Wells Fargo a pledge agreement and appropriate certificates and powers or financing statements, pledging all of the direct or beneficial ownership interest in AngioScore reasonably satisfactory to Wells Fargo; or

 

(z)                                  cause Company to provide to Wells Fargo all other documentation, including one or more opinions of counsel reasonably satisfactory to Wells Fargo, which in its opinion is appropriate with respect to the execution and delivery of the applicable documentation referred to above.

 

Any document, agreement, or instrument executed or issued pursuant to Section 5.6(x), 5.6(y) or 5.6(z) shall be a Loan Document.”

 

4.                                      Section 5.7 of the Credit Agreement is hereby amended by adding the following proviso to the end thereof:

 

“provided, however, Company may (a) make regularly scheduled payments of principal and interest with respect to the AngioScore Convertible Notes, (b) make cash payments in connection with the conversion of the AngioScore Convertible Notes, (c) issue Company’s Common Stock in connection with the conversion of the AngioScore Convertible Notes, and (d) perform its other obligations under the

 

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AngioScore Convertible Notes (including any redemption or required repurchase of AngioScore Convertible Notes).”

 

5.                                      Exhibit D to the Credit Agreement is hereby updated and amended as provided in Annex A hereto.

 

6.                                      No Other Changes.  Except as explicitly amended by this Amendment, all of the terms and conditions of the Credit Agreement shall remain in full force and effect and shall apply to any advance or letter of credit thereunder.

 

7.                                      Conditions Precedent.  This Amendment shall be effective when Wells Fargo shall have received an executed original hereof.

 

8.                                      Consent to AngioScore Transactions.  Company has requested that Wells Fargo consent to the AngioScore Acquisition, the AngioScore Convertible Notes and an amendment of Company’s Constituent Documents in connection with the AngioScore Convertible Notes (collectively, the “AngioScore Transactions”) and the consummation of the transactions contemplated thereby.  Company hereby represents and warrants to Wells Fargo that, after giving effect to the amendments to Section 5.4, Section 5.6, Section 5.7, Exhibit A and Exhibit D set forth in this Amendment, no Event of Default shall occur as a direct result of Company’s consummation of the AngioScore Transactions.  Wells Fargo hereby consents to the AngioScore Transactions subject to (a) the terms and conditions of this Amendment and (b) Wells Fargo’s receipt of the following:  (i) within five (5) Business Days after the consummation of the AngioScore Acquisition, copies of the fully executed material documents, instruments and agreements executed or delivered by or to Company in connection with the AngioScore Acquisition; (ii) within five (5) Business Days after the issuance of the AngioScore Convertible Notes, copies of each instrument evidencing the AngioScore Convertible Notes; and (iii) within five (5) Business Days after the amendment of the Constituent Documents, copies of each Constituent Document amended in connection with the AngioScore Convertible Notes.  This consent by Wells Fargo to the AngioScore Transactions shall be effective only in this specific instance and for the specific purpose for which it is given, and this consent shall not entitle Company to any other or further consents in any similar or other circumstances.

 

9.                                      Representations and Warranties.  Company hereby represents and warrants to Wells Fargo as follows:

 

(a)                                 Company has all requisite power and authority to execute this Amendment and any other agreements or instruments required hereunder and to perform all of its obligations hereunder and thereunder, and each of this Amendment and all such other agreements and instruments has been duly executed and delivered by Company and constitutes the legally valid and binding agreement and obligation of Company, enforceable against Company in accordance with its respective terms.

 

(b)                                 The execution, delivery and performance by Company of this Amendment and any other agreements or instruments required hereunder have been duly authorized by all necessary corporate action and do not (i) require any authorization, consent or approval by any governmental department, commission, board, bureau, agency or instrumentality, domestic or foreign, (ii) violate any provision of any law, rule or regulation or of any order, writ, injunction or decree presently in effect, having applicability to Company, or the Constituent Documents of Company, or (iii) result in a breach of or constitute a default under any indenture or loan or credit

 

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agreement or any other agreement, lease or instrument to which Company is a party or by which it or its properties may be bound or affected.

 

(c)                                  All of the representations and warranties contained in Exhibit D of the Credit Agreement, as updated and amended by this Amendment, are correct on and as of the date hereof as though made on and as of such date, except to the extent that such representations and warranties relate solely to an earlier date.

 

(d)                                 After giving effect to the amendments to Section 5.4, Section 5.6, Section 5.7, Exhibit A and Exhibit D set forth in this Amendment, no Event of Default shall occur as a direct result of Company’s consummation of the AngioScore Transactions.

 

10.                               References; Affirmation.  All references in the Credit Agreement to “this Agreement” shall be deemed to refer to the Credit Agreement as amended hereby; and any and all references in the Loan Documents to the Credit Agreement shall be deemed to refer to the Credit Agreement as amended hereby.  The existing Loan Documents, except as amended by this Amendment or, as applicable, as amended (or amended and restated) by a separate agreement or instrument in connection herewith, shall remain in full force and effect, and each of them is hereby ratified and confirmed by Company and Wells Fargo.  Company and Wells Fargo intend that this Amendment shall not in any manner (a) constitute the refinancing, refunding, payment or extinguishment of the Indebtedness evidenced by the existing Loan Documents; (b) be deemed to evidence a novation of the outstanding balance of the Indebtedness; or (c) affect, replace, impair, or extinguish the creation, attachment, perfection or priority of the Liens on the Collateral granted pursuant to the Credit Agreement or any of the other Loan Documents evidencing, governing or creating a Lien on the Collateral.  Company hereby ratifies and reaffirms any and all grants of the Liens to Wells Fargo on the Collateral as security for the Indebtedness, and acknowledges and confirms that the grants of the Liens to Wells Fargo on the Collateral:  (i) represent continuing Liens on all of the Collateral, (ii) secure all of the Indebtedness, and (iii) represent valid first Liens on all of the Collateral, subject only to the Permitted Liens.  The Credit Agreement, as amended by this Amendment, will be construed as one agreement.

 

11.                               No Waiver.  The execution of this Amendment and the acceptance of all other agreements and instruments related hereto shall not be deemed to be a waiver of any Default or Event of Default under the Credit Agreement or a waiver of any breach, default or event of default under any Loan Document or other document held by Wells Fargo, whether or not known to Wells Fargo and whether or not existing on the date of this Amendment.

 

12.                               Release.  Company hereby absolutely and unconditionally releases and forever discharges Wells Fargo, and any and all participants, parent entities, subsidiary entities, affiliated entities, insurers, indemnitors, successors and assigns thereof, together with all of the present and former directors, officers, agents, attorneys and employees of any of the foregoing, from any and all claims, demands or causes of action of any kind, nature or description, whether arising in law or equity or upon contract or tort or under any state or federal law or otherwise, which Company has had, now has or has made claim to have against any such Person for or by reason of any act, omission, matter, cause or thing whatsoever arising from the beginning of time to and including the date of this Amendment, whether such claims, demands and causes of action are matured or unmatured or known or unknown.

 

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13.                               Costs and Expenses.  Company hereby reaffirms its agreement under the Credit Agreement to pay or reimburse Wells Fargo on demand for all costs and expenses incurred by Wells Fargo in connection with the Loan Documents, including without limitation all reasonable fees and disbursements of legal counsel.  Without limiting the generality of the foregoing, Company specifically agrees to pay all fees and disbursements of counsel to Wells Fargo for the services performed by such counsel in connection with the preparation of this Amendment and the documents and instruments incidental hereto.  Company hereby agrees that Wells Fargo may, at any time or from time to time in its sole discretion and without further authorization by Company, make a loan to Company under the Credit Agreement, or apply the proceeds of any loan, for the purpose of paying any such fees, disbursements, costs and expenses.

 

14.                               Captions and Headings.  The titles, captions and headings in this Amendment are for the purposes of reference only and shall not affect the construction of, or be taken into consideration in interpreting, this Amendment.

 

15.                               Miscellaneous.  This Amendment may be executed in any number of counterparts and by different parties on separate counterparts, each of which, when executed and delivered, shall be deemed to be an original, and all of which, when taken together, shall constitute but one and the same agreement.  Delivery of an executed counterpart of this Amendment by telefacsimile or other electronic method of transmission shall be equally as effective as delivery of an original executed counterpart of this Amendment.  Any party delivering an executed counterpart of this Amendment by telefacsimile or other electronic method of transmission also shall deliver an original executed counterpart of this Amendment but the failure to deliver an original executed counterpart shall not affect the validity, enforceability, and binding effect of this Amendment.

 

[The remainder of this page intentionally left blank.]

 

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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed as of the date first above written.

 

	
WELLS FARGO BANK, NATIONAL ASSOCIATION
    	
 
    	
THE   SPECTRANETICS CORPORATION
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
/s/ Dustin Jacobson
    	
 
    	
By:
    	
/s/   Guy A. Childs
    
	
Name: Dustin Jacobson
    	
 
    	
Name:   Guy A. Childs
    
	
Its: Authorized Signatory
    	
 
    	
Its:   Chief Financial Officer

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