Document:

Exhibit 10.1 Q1 FY2013

Second Amendment to Credit Agreement
This Second Amendment to Credit Agreement (this “Amendment”), dated as of August 2, 2012, is between Plantronics, Inc., a Delaware corporation (“Borrower”), and Wells Fargo Bank, National Association, a national banking association (“Bank”).
Recitals
A.    Borrower and Bank have previously entered into that certain Credit Agreement, dated as of May 9, 2011 (as amended by that certain First Amendment to Credit Agreement, dated as of June 11, 2012, the “Credit Agreement”).
B.    Borrower has requested that Bank amend certain provisions of the Credit Agreement and, in response to the request of Borrower, and in reliance upon the representations made in support thereof, and the other terms and provisions of this Amendment, the parties hereto desire to amend the Credit Agreement as set forth below on the terms and conditions contained herein.
Now, Therefore, for good and valuable consideration (the receipt and sufficiency of which are hereby acknowledged), the parties hereto agree as follows:
1.    Defined Terms.  Each capitalized term used but not otherwise defined herein has the meaning ascribed thereto in the Credit Agreement.
2.    Amendments to the Credit Agreement.  
(a)    Section 2.1(a) of the Credit Agreement is hereby amended by deleting the date “May 9, 2014” and replacing it with the date “May 9, 2015.”
(b)    Section 8.2 of the Credit Agreement is hereby amended by deleting the contact person “Barbara Scherer, Chief Financial Officer” and replacing it with “Chief Financial Officer.”
3.    Conditions to Effectiveness.  This Amendment shall become effective on the date (the “Effective Date”) that all of the following conditions precedent have been satisfied:
(a)    Bank shall have received an original counterpart of this Amendment and the First Modification to Revolving Line of Credit Note (the “Modification”), each duly executed and delivered by Borrower;
(b)    Bank shall have received an original counterpart to the Consent and Reaffirmation attached hereto, duly executed and delivered by Frederick Electronics Corporation;
(c)    Each of the representations and warranties of Borrower in Section 4 of this Agreement shall be true, correct and accurate as of the Effective Date;
(d)    Bank shall have received payment for all attorneys' fees and expenses incurred in connection with the preparation and negotiation of this Amendment; and
(e)    All legal matters incident to the execution and delivery of this Amendment and the Modification shall be satisfactory to Bank and its counsel.
4.    Representations, Warranties and Agreements.  Borrower hereby represents, warrants and agrees in favor of Bank as follows:
(a)    No Default or Event of Default has occurred and is continuing (or would result from the amendment of the Credit Agreement contemplated hereby);
    

(b)    The execution, delivery and performance by Borrower of this Amendment and the Modification have been duly authorized by all necessary corporate and/or other action and do not and will not require any registration with, consent or approval of, notice to or action by, any Person in order to be effective and enforceable.  Each of the Credit Agreement and the other Loan Documents to which Borrower is a party constitutes and continues to constitute the legal, valid and binding obligations of Borrower, enforceable against Borrower in accordance with their respective terms;
(c)    All of the representations and warranties of Borrower contained in the Credit Agreement and the other Loan Documents are true and correct on and as of the date hereof and will be true and correct on the Effective Date (except to the extent that such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct as of such earlier date);
(d)    Borrower is entering into this Amendment and the Modification on the basis of Borrower's own business judgment, without reliance upon Bank or any other Person; and
(e)    Borrower acknowledges and agrees that the execution and delivery by Bank of this Amendment and the Modification shall not be deemed to create a course of dealing or otherwise obligate Bank or any other Person to execute similar agreements under the same or similar circumstances in the future.  Bank has no obligation to Borrower or any other Person to further amend provisions of the Credit Agreement or the other Loan Documents.  Other than as specifically contemplated hereby, all of the terms, covenants and provisions of the Credit Agreement (and the other Loan Documents) are and shall remain in full force and effect.
5.    General Provisions.
(a)    Upon the effectiveness of this Amendment, all references in the Credit Agreement and in the other Loan Documents to the Credit Agreement shall refer to the Credit Agreement as modified hereby.  This Amendment shall be deemed incorporated into, and a part of, the Credit Agreement.  This Amendment is a Loan Document.  THIS AMENDMENT IS EXPRESSLY SUBJECT TO THE PROVISIONS OF SECTION 8.10 (GOVERNING LAW; JURISDICTION; ETC.) AND SECTION 8.11 (ARBITRATION) OF THE CREDIT AGREEMENT, WHICH PROVISIONS ARE INCORPORATED HEREIN AND MADE APPLICABLE HERETO BY THIS REFERENCE.
(b)    This Amendment is made pursuant to Section 8.5 of the Credit Agreement and shall be binding upon and inure to the benefit of the parties hereto and thereto and their respective successors and assigns.  No third party beneficiaries are intended in connection with this Amendment.
(c)    This Amendment may be executed in counterparts (and by different parties hereto in different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract.  Delivery of an executed counterpart of a signature page of this Amendment by telecopy shall be effective as delivery of a manually executed counterpart of this Amendment.
(d)    If any term or provision of this Amendment shall be deemed prohibited by or invalid under any applicable law, such provision shall be invalidated without affecting the remaining provisions of this Amendment or the Credit Agreement, respectively.
(e)    Each of the parties hereto acknowledge and agree that the execution and delivery of this Amendment and the Modification by the Bank shall not be deemed to create a course of dealing or otherwise obligate the Bank or any other Person to execute similar agreements under the same or similar circumstances in the future.  The Bank has no obligation to the Borrower or any other Person to further amend provisions of the Credit Agreement or the other Loan Documents.  Other than as specifically contemplated hereby, all of the terms, covenants and provisions of the Credit Agreement (and the other Loan Documents) are and shall remain in full force and effect.

[Document continues with signature pages.]

In Witness Whereof, the parties hereto have caused this Second Amendment to Credit Agreement to be duly executed as of the date first written above.

Borrower:

Plantronics, Inc.,
a Delaware corporation

	
		
	By:
	/s/ Pamela Strayer

	Name:
	Pamela Strayer

	Title:
	Sr. VP/CFO

Bank:

Wells Fargo Bank, National Association,
a national banking association

	
		
	By:
	/s/ Alexander Razo

	Name:
	Alexander Razo

	Title:
	Vice Presidentform8k080612ex10-1.htm

 

SERVICE AGREEMENT

	
THIS AGREEMENT

	
Dated for reference the 3rd day of August, 2012

	  	  
	
BETWEEN:

	
James Poulter

	  	
9120 Double Diamond Parkway, Suite 3889

	  	
Reno, Nevada, 89521

	  	
(the “Service Provider”)

	  	  
	
AND:

	
Grizzly Gold Corp.

	  	
9120 Double Diamond Parkway, Suite 3889

	  	
Reno, Nevada, 89521

	  	  
	  	
(the “Company”)

WHEREAS:

	
A.  

	
The Company is a Nevada corporation in the business of mineral exploration; and

	
B.  

	
The Company desires to develop mineral properties; and

	
C.  

	
The Company desires to retain the services of the Service Provider in the capacity pursuant to the terms hereof;  and

	
D.  

	
The Service Provider is an individual possessing qualifications in the mineral exploration industry; and

	
E.  

	
The Service Provider is willing to serve as a Director of the Company

THIS AGREEMENT WITNESSES THAT in consideration of the premises and mutual covenants herein contained, and for other good and valuable consideration, the receipt and sufficiency of which is acknowledged by each party, the parties agree as follows

1.  ENGAGEMENT:  The Company herby engages the Service Provider to provide the services referred to in Section 3 hereof for the consideration hereinafter set forth and the Service Provider hereby accepts such engagement by the Company, all and subject to the terms and conditions of this Agreement.

2.  TERM:  The Service Provider’s engagement shall commence August 3, 2012 and continue for as long as the Service Provider is a director of the Company.  Nothing herein shall prevent the Service Provider from offering or performing services to other businesses.

3.  DUTIES:  The Service Provider will utilize his expertise to serve on the Board of Directors of the Company.

4.  COMPENSATION:  In consideration for the services of the Service Provider to be provided to the Company under this agreement, the Company will pay to the Service Provider and/or his agent, an amount of USD $500 per month.  Payment will be made to the Service Provider in advance on a quarterly basis.

5.  CONFIDENTIALITY AND NON-DISCLOSURE:  The Service Provider agrees on behalf of himself that any information provided to him by the Company of a confidential nature will not be revealed or disclosed to any person or entity, except in the performance of this Agreement or as directed by legal or regulatory authority.

6.  ENTIRE AGREEMENT:  This Agreement, hereto constitutes the entire agreement between the parties hereto and there are no representations or warranties, express or implied, statutory or otherwise other then set forth in this Agreement  and there are no agreement collateral hereto other than as are expressly set forth or referred to herein.  This Agreement cannot be amended or supplemented except by a written agreement executed by both parties hereto.

7.  COUNTERPARTS:  This Agreement may be executed in counterparts together shall constitute one and the same instrument.

IN WITNESS WHEREOF the Parties have duly executed this Agreement as of the date set out above of this Agreement.

	  	
Grizzly Gold Corp.

	
Per James Poulter

	
Per Paul Strobel, President

	
Authorized Signatory

	
Authorized Signatory

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