Document:

Amendment to Fourth Amended and Restated Loan Agreement

 Exhibit 10.1 
 [Letterhead of Wells Fargo Capital Finance, LLC] 
 Effective November 30, 2012

 Mad Catz, Inc. 
 7480 Mission Valley
Road 
 Suite 101 
 San Diego, CA

 92108 
 Dear Sirs/Mesdames:

  

	Re:	Fourth Amended and Restated Credit Agreement dated August 1, 2012 and as amended by a letter agreement dated October 31, 2012 (as amended, modified,
supplemented, extended, renewed, restated or replaced from time to time, the “Credit Agreement”) between Wells Fargo Capital Finance, LLC, (“Wells Fargo”), Mad Catz, Inc. (the “Borrower”) and the Obligors party thereto.
Capitalized terms not otherwise defined in this Agreement shall have the meanings given to them in the Credit Agreement unless stated otherwise. 

 
 You have requested that Wells Fargo amend the
Credit Agreement as set out herein. 
  

	1.	Amendments to Credit Agreement 

  

	 	(a)	Section 8.24 (EBITDA) of the Credit Agreement is hereby deleted and replaced with the following: 

“8.24 EBITDA 
 Intentionally deleted.” 
  

	 	(b)	Section 8.25 (Excess Availability) of the Credit Agreement is hereby deleted and replaced with the following: 

“8.25 Excess Availability 

Borrower shall maintain Excess Availability of not less than $3,000,000 at all times starting January 1, 2013.”

  

	 	(c)	This Agreement is an amendment to the Credit Agreement. Unless the context of this Agreement otherwise requires, the Credit Agreement and this Agreement shall be read
together and shall have effect as if the provisions of the Credit Agreement and this Agreement were contained in one agreement. The term “Agreement” when used in the Credit Agreement means the Credit Agreement as amended by this Agreement,
together with all amendments, modifications, supplements, extensions, renewals, restatements and replacements thereof from time to time. 

	 	(d)	Nothing in this Agreement, nor in the Credit Agreement when read together with this Agreement, shall constitute a novation, payment, re-advance or reduction or
termination in respect of any Obligations. 

  

	2.	Representations and Warranties 

 In order to induce Wells Fargo to enter into this Agreement, the Borrower and each Obligor represent and warrant to Wells Fargo as follows, which representations and warranties shall survive the execution
and delivery of this Agreement: 
  

	 	(a)	After giving effect to this Agreement: 

  

	 	(i)	all of the representations and warranties in the Credit Agreement and the other Financing Agreements are true and correct as of the date hereof;

  

	 	(ii)	each of the Borrower and the Obligors is in compliance with all the covenants contained in the Credit Agreement and the other Financing Agreements;

  

	 	(iii)	no Default or Event of Default exists or is continuing; 

  

	 	(b)	the execution, delivery and performance of this Agreement and the transactions contemplated hereunder are all within the Borrower’s and each Obligor’s
corporate powers, have been duly authorized and are not in contravention of law or the terms of the Borrower’s or each Obligor’s certificate of incorporation, by-laws or other organizational documentation, or any indenture, agreement or
undertaking to which the Borrower or an Obligor is a party or by which the Borrower’s or an Obligor’s property is bound; 

  

	 	(c)	each of the Borrower and the Obligors have duly executed and delivered this Agreement; and 

 

	 	(d)	this Agreement constitutes a legal, valid and binding obligation of the Borrower and each Obligor, enforceable against them by Wells Fargo in accordance with the terms
of this Agreement. 

  

	3.	General  

  

	 	(a)	The Credit Agreement, as amended by this Agreement, shall continue in full force and effect and the rights and obligations of all parties thereunder shall not be
affected or prejudiced in any manner except as specifically provided for herein. 

  

	 	(b)	It is agreed and confirmed that after giving effect to this Agreement, all security and guarantees delivered by the Borrower and each Obligor secures the payment and
performance of all of the Obligations including, without limitation, the obligations, liabilities and indebtedness arising under the Credit Agreement. 

  

	 	(c)	The Borrower and each Obligor shall execute and deliver such documents and take such actions as may be necessary or desirable by Wells Fargo to give effect to the
provisions and purposes of this Agreement, all at the expense of the Borrower and each Obligor. 

  
 - 2 -

	 	(d)	The Borrower agrees to pay Wells Fargo a $5000 amendment fee upon the Borrower’s execution of this Agreement. 

 

	 	(e)	The Borrower and each Obligor shall pay all fees, expenses and disbursements including, without limitation, legal fees, incurred by or payable to Wells Fargo in
connection with the preparation, negotiation, execution, delivery, review and enforcement of this Agreement and all other documents and instruments arising therefrom and/or executed in connection therewith. 

 

	 	(f)	This Agreement may be executed and delivered by facsimile or pdf and in any number of counterparts, each of which when so executed and delivered is an original and all
of which taken together constitute one and the same instrument. 

  

	 	(g)	This Agreement shall be governed by the laws of the State of Illinois. 

  

	 	(h)	This Agreement is a Financing Agreement. 

 If
the foregoing correctly sets out our agreement, please indicate your acceptance of the terms and conditions of this Agreement by signing below and returning an executed copy to us. 
 Yours truly, 
  

					
	WELLS FARGO CAPITAL FINANCE, LLC
		
	Per:	 	 /s/ SEAN M. NOONAN

		 	Name:	 	Sean M. Noonan
		 	Title:	 	Vice President, Relationship Manager

  

													
	MAD CATZ, INC.	 		 	MAD CATZ INTERACTIVE, INC.
					
	Per:	 	 /s/ DARREN RICHARDSON
	 		 	Per:	 	 /s/ DARREN RICHARDSON

		 	Name:	 	Darren Richardson	 		 		 	Name:	 	Darren Richardson
		 	Title:	 	President & CEO	 		 		 	Title:	 	President & CEO

  

																	
	1328158 ONTARIO INC.	 		 		 	WINKLER ATLANTIC HOLDINGS LIMITED
						
	Per:	 	 /s/ DARREN RICHARDSON
	 		 		 	Per:	 	 /s/ DARREN RICHARDSON

		 	Name:	 	Darren Richardson	 		 		 		 		 	Name:	 	Darren Richardson
		 	Title:	 	Director	 		 		 		 		 	Title:	 	Director

  
 - 3 -

													
	MAD CATZ EUROPE LIMITED	 		 	MAD CATZ INTERACTIVE ASIA LIMITED
					
	Per:	 	 /s/ DARREN RICHARDSON
	 		 	Per:	 	 /s/ DARREN RICHARDSON

		 	Name:	 	Darren Richardson	 		 		 	Name:	 	Darren Richardson
		 	Title:	 	Director	 		 		 	Title:	 	Director

  

													
	FX UNLIMITED, INC.	 		 	MAD CATZ GMBH
					
	Per:	 	 /s/ DARREN RICHARDSON
	 		 	Per:	 	 /s/ DARREN RICHARDSON

		 	Name:	 	Darren Richardson	 		 		 	Name:	 	Darren Richardson
		 	Title:	 	CEO	 		 		 	Title:	 	Geschäftsführer

  

													
	SAITEK, S.A.	 		 	MAD CATZ TECHNOLOGICAL DEVELOPMENT (SHENZHEN) CO., LTD.
					
	Per:	 	 /s/ DARREN RICHARDSON
	 		 	Per:	 	 /s/ NICHOLAS CHEUNG

		 	Name:	 	Darren Richardson	 		 		 	Name:	 	Nicholas CHEUNG
		 	Title:	 	Director	 		 		 	Title:	 	Legal Representative
					
	MAD CATZ CO., LTD.	 		 		 		 	
						
	Per:	 	 /s/ DARREN RICHARDSON
	 		 		 		 	
		 	Name:	 	Darren Richardson	 		 		 		 	
		 	Title:	 	Director	 		 		 		 	

  
 - 4 -2013 Incentive Plan for Issachar Ohana, EVP Worldwide sales

 Exhibit 10.1 
 January 30, 2013 
 To: Issachar Ohana, EVP WW Sales 

From: Gideon Wertheizer, CEO 
 Re:
2013 Incentive Plan 
 This document outlines your Incentive Plan for 2013. The rules and guidelines for the plan are contained herein.

  

	 	1.	Compensation Package: Your compensation package is made up of a base salary and an Incentive Bonus (IB) target. The IB provides reward for successful performance
and is based upon your performance to your assigned annual quota, Corporate Quarterly Revenue Target (CQRT) and Strategic Accounts (SA) deals. 

 While the Quota is based upon annual target, the IB payment period is quarterly. Payments are calculated on a quarterly basis, against your annual quota target, based on bookings that has been invoiced
and recognized as revenue by the Company, and paid after the end of the respective quarter as soon as is practically possible. 
  

	 	a.	Company Revenue Target (CRT)     $*** 

	 	i.	Revenue-Based Incentive Target $*** 

	 	ii.	Commission Rate: ***% 

  

	 	iii.	Commission Multiplier: The plan include multipliers (Commission Multipliers), as shown in the table below. The Commission Multiplier to be used in the quarterly
Commission Calculation will be based on your percent of cumulative Quota and achievement 

  

			
	 Percent of Cumulative Quota

Achievement
	 	 Commission Multiplier to be

Applied

	 From 0 to 100%
	 	1.0
	 From 100%
	 	1.5

  

	 	b.	Corporate Quarterly Revenue Target (CQRT): An additional bonus of $5,000 will be paid for each of the following quarterly revenue targets if achieved.

  

	 	i.	Q1         $*** 

	 	ii.	Q2         $*** 

	 	iii.	Q3         $*** 

	 	iv.	Q4         $*** 

	 	c.	Strategic Account (SA) Bonus- An additional bonus of $5,000 will be paid for each deal that exceeds $1M. (not including prepaid royalties) with the following
companies: ***. Payments are calculated on an annual basis, based on bookings that have been invoiced and recognized as revenue by the Company, and paid as is practically possible. 

The total bonus payment due to SA deals will be capped at $20,000 as long as annual revenue achieved is below the CRT. The cap for SA
bonus will be removed once annual revenue achieved exceeds the CRT. 
  

	 	2.	 Effective date/terms: This plan is effective for January 1st, 2013 through December 31st 2013, unless if modified in writing by the CEO. This plan supersedes all prior commission plan. Management reserves
the right to make any changes to the sales incentive plan at any time. 

  

	 	3.	Plan Eligibility: This plan is applied to full time sales personnel. If you resign, terminate, or cease to be an employee of the company, you will be entitled to
IB on any revenue amount invoiced up to the date of termination. 

 I have read and understand the 2013 Incentive Compensation
Plan. I have received a copy of the Plan for my record. I accept the terms and conditions of the Plan as outlined above and agree that my compensation will be determined according to these terms and conditions. 

 

					
	 /s/ Issachar Ohana
	 		 	 1/30/2013

	Issachar Ohana, EVP Worldwide Sales	 		 	Date
			
	 /s/ Gideon Wertheizer
	 		 	 1/30/2013

	Gideon Wertheizer, CEO	 		 	Date

  

			
	 CC:
	 	Finance
		 	HR, Employee File

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