Document:

ex10p2.htm

    
      
        

      
Exhibit 10.2

     

            EXECUTION
      COPY

     

    

    CREDIT
      AGREEMENT SUPPLEMENT

     

    THIS
      CREDIT AGREEMENT SUPPLEMENT (this
“Supplement”), dated as of July 9, 2007, is by and
      among CENVEO CORPORATION, a Delaware
      corporation (the
“Borrower”), CENVEO,
      INC., a Colorado corporation
      (“Holdings”), the financial
      institutions listed on the signature pages of this Supplement as “Supplemental
      Lenders” (the “Supplemental Lenders”), and
BANK OF AMERICA, N.A., as administrative agent on
      behalf of the
      Lenders under the Credit Agreement (as hereinafter defined) (in such capacity,
      the “Administrative Agent”).

     

    W
      I T N E S S E T H

     

    WHEREAS,
      the Borrower, Holdings, the financial institutions party thereto as of the
      date
      hereof, as lenders (the “Existing Lenders”) and the
      Administrative Agent are parties to that certain Credit Agreement dated as
      of
      June 21, 2006 (as amended by that certain First Amendment to Credit Agreement,
      dated as of March 7, 2007, and as otherwise amended, modified, extended,
      restated, replaced or supplemented from time to time, the “Credit
      Agreement”);

     

    WHEREAS,
      the Borrower has requested a $100,000,000 increase in the existing Term C
      Facility pursuant to Section 2.14(a) of the Credit Agreement;
      and

     

    WHEREAS,
      each Existing Lender that executes and delivers this Supplement (each, a
“Participating Lender”) will have agreed to make a new
      Term C Commitment, in addition to its existing Commitment, in an aggregate
      amount as agreed to by such Participating Lender (the “New
      Commitment”).

     

    NOW,
      THEREFORE, in consideration of the agreements hereinafter set forth,
      and for other good and valuable consideration, the receipt and adequacy of
      which
      are hereby acknowledged, the parties hereto agree as follows:

     

    ARTICLE
      I

    DEFINITIONS

     

    1.1           Defined
      Terms.  Capitalized terms used herein and not otherwise
      defined herein shall have the meanings ascribed thereto in the Credit
      Agreement.

     

    ARTICLE
      II

    INCREASE
      TO THE TERM C FACILITY

     

    2.1           Supplement
      of Credit Agreement.  Subject to the
      satisfaction of the conditions precedent set forth in Section 3.1 below, from
      and after the Effective Date (as hereinafter defined), (i) the Credit Agreement
      is hereby supplemented in accordance with Section 2.14 thereof to
      increase the aggregate Term C Commitments by $100,000,000 to a total of
      $698,500,000, and (ii) the amortization of the Term C Loans is amended in
      accordance with Section 2.14(e) of the Credit Agreement.

     

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    ARTICLE
      III

    CONDITIONS
      TO EFFECTIVENESS

     

    3.1           Closing
      Conditions.  This Supplement shall become effective as of
      the day and year set forth above (the “Effective
      Date”) upon satisfaction of the following conditions (in form and
      substance reasonably acceptable to the Administrative Agent):

     

    (a)           Executed
      Supplement.  The Administrative Agent shall have received a copy
      of this Supplement duly executed by each of the Borrower, Holdings, each
      Participating Lender and the Administrative Agent.

     

    (b)           Executed
      Guarantor Ratification.  The Administrative Agent shall have
      received an acknowledgment and ratification with respect to this Supplement
      executed by each Guarantor.

     

    (c)           Acquisition.  Contemporaneously
      with the making of the additional Term C Loans by the Participating Lenders
      to
      the Borrower, the acquisition of Madison/Graham ColorGraphics, Inc., a
      California corporation (“Color Graphics”) and its sole
      subsidiary Madison/Graham ColorGraphics Interstate Services, Inc., a California
      corporation (“Interstate”) (the
“Acquisition”) shall be
      consummated pursuant to
      that certain Stock Purchase Agreement, dated as of June 14, 2007, among the
      Borrower, Color Graphics and certain sellers party thereto, and no material
      provision thereof shall have been waived, amended, supplemented or otherwise
      modified, except with the consent of the Administrative Agent.

     

    (d)           Executed
      Joinder Agreement.  The Administrative Agent shall have received a
      Joinder Agreement executed by each of Color Graphics and
      Interstate.

     

    (e)           Notes.  The
      Administrative Agent shall have received a duly executed Note, for each
      Participating Lender requesting a Note.

     

    (f)           Authorization
      Documents.  The Administrative Agent shall have received such
      certificates of resolutions or other action, incumbency certificates and/or
      other certificates of Responsible Officers of each Loan Party as the
      Administrative Agent may require evidencing the identity, authority and capacity
      of each Responsible Officer thereof authorized to act as a Responsible Officer
      in connection with this Supplement.

     

    (g)           Legal
      Opinions.  The Administrative Agent shall have received (i) a
      favorable opinion of Timothy Davis, Esq., General Counsel of Holdings, addressed
      to the Administrative Agent and each Lender, and (ii) a favorable opinion of
      Hughes Hubbard & Reed LLP special New York counsel to the Borrower and
      Holdings addressed to the Administrative Agent and each Lender (including,
      without limitation, opinions as to the enforceability of this Supplement and
      the
      Joinder Agreement and non-contravention of (i) the organizational documents
      of
      the Borrower, Holdings, Color Graphics and Interstate and (ii) Material
      Contracts, including the Cadmus Subordinated Notes), in each case in form and
      substance satisfactory to the Administrative Agent.

     

    (h)           Closing
      Certificate.  The Administrative Agent shall have received a
      closing certificate of a Responsible Officer of the Borrower in the form of
      Exhibit A hereto.

     

    

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    (i)           Miscellaneous.  All
      other documents and legal matters in connection with the transactions
      contemplated by this Supplement shall be reasonably satisfactory in form and
      substance to the Administrative Agent and its counsel.

     

    ARTICLE
      IV

    MISCELLANEOUS

     

    4.1           Supplemented
      Terms.  On and after the Effective Date, all references
      to the Credit Agreement in each of the Loan Documents shall hereafter mean
      the
      Credit Agreement as supplemented hereby.  Except as specifically
      supplemented and amended hereby or otherwise agreed, the Credit Agreement is
      hereby ratified and confirmed and shall remain in full force and effect
      according to its terms.

     

    4.2           Representations
      and Warranties of the Borrower and Holdings.  Each of the
      Borrower and Holdings represents and warrants as follows:

     

    (a)           It
      has taken all necessary action to authorize the execution, delivery and
      performance of this Supplement.

     

    (b)           This
      Supplement has been duly executed and delivered by such Person and constitutes
      such Person’s legal, valid and binding obligations, enforceable in accordance
      with its terms, except as such enforceability may be subject to
      (i) bankruptcy, insolvency, reorganization, fraudulent conveyance or
      transfer, moratorium or similar laws affecting creditors’ rights generally and
      (ii) general principles of equity (regardless of whether such
      enforceability is considered in a proceeding at law or in equity).

     

    (c)           No
      consent, approval, authorization or order of, or filing, registration or
      qualification with, any court or governmental authority or third party is
      required in connection with the execution, delivery or performance by such
      Person of this Supplement, except for (i) filings and recordings necessary
      to
      perfect Liens created under the Collateral Documents and (ii) such consents,
      approvals, authorizations, orders, filings, registrations and qualifications
      that have been duly obtained, taken, given or made and are in full force and
      effect.

     

    (d)           The
      representations and warranties set forth in Article V of the Credit Agreement
      are true and correct in all material respects as of the date hereof (except
      for
      those which expressly relate to an earlier date).

     

    (e)           After
      giving effect to this Supplement, no event has occurred and is continuing which
      constitutes a Default.

     

    (f)           Except
      as specifically provided in this Supplement, the Obligations are not reduced
      or
      modified by this Supplement and are not subject to any offsets, defenses or
      counterclaims.

     

    4.3           Reaffirmation
      of Obligations.  Each of the Borrower and Holdings hereby
      ratifies the Credit Agreement and acknowledges and reaffirms (a) that it is
      bound by all terms of the Credit Agreement applicable to it and (b) that it
      is
      responsible for the observance and full

    
 

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    performance
      of its respective Obligations.  Holdings hereby acknowledges and
      reaffirms its obligations under Article X of the Credit Agreement.

     

    4.4           Loan
      Document.  This Supplement shall constitute a Loan
      Document under the terms of the Credit Agreement.

     

    4.5           Further
      Assurances.  Each of the Borrower and
      Holdings agrees to promptly take such action, upon the reasonable request of
      the
      Administrative Agent, as is necessary to carry out the intent of this
      Supplement.

     

    4.6           Fees
      and Expenses.  The Borrower agrees to
      pay all reasonable and documented out-of-pocket expenses of the Administrative
      Agent in connection with this Supplement and the other transactions contemplated
      hereunder.

     

    4.7           Entirety.  This
      Supplement and the other Loan Documents embody the entire agreement among the
      parties hereto and supersede all prior agreements and understandings, oral
      or
      written, if any, relating to the subject matter hereof.

     

    4.8           Counterparts;
      Telecopy.  This Supplement may be executed in any number
      of counterparts, each of which when so executed and delivered shall be an
      original, but all of which shall constitute one and the same
      instrument.  Delivery of an executed counterpart to this Supplement by
      telecopy or other electronic means shall be effective as an original and shall
      constitute a representation that an original will be delivered.

     

    4.9           GOVERNING
      LAW.  THIS SUPPLEMENT SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED
      AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK (INCLUDING
      SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS
      LAW).

     

    4.10         Successors
      and Assigns.  This Supplement shall be
      binding upon and inure to the benefit of the parties hereto and their respective
      successors and assigns.

     

    4.11         Consent
      to Jurisdiction; Service of Process; Waiver of Jury
      Trial.  The jurisdiction, services of process and waiver
      of jury trial provisions set forth in Sections 11.14 and 11.15 of
      the Credit Agreement are hereby incorporated by reference, mutatis
      mutandis.

     

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

    

    IN
      WITNESS WHEREOF the parties hereto have caused this Supplement to be
      duly executed on the date first above written.

     

    
      	
              BORROWER:

            	
              CENVEO
                CORPORATION,

            
	 	
              a
                Delaware corporation

            
	 	 
	 	 
	 	
              By:
                /s/ Sean S.
                Sullivan         
                

            
	 	
              Name:  Sean
                S. Sullivan

            
	 	
              Title:  CFO

            
	 	 
	 	 
	
              HOLDINGS:

            	
              CENVEO,
                INC.,

            
	 	
              a
                Colorado corporation

            
	 	 
	 	 
	 	
              By:
                /s/ Sean S.
                Sullivan         
                

            
	 	
              Name:  Sean
                S. Sullivan

            
	 	
              Title:  CFO

            

    

    

     

     

    CREDIT
      AGREEMENT SUPPLEMENT

    Signature
      Page

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    
      	
              ADMINISTRATIVE
                AGENT:

            	
              BANK
                OF AMERICA, N.A.,

              as
                Administrative Agent

            
	 	 
	 	 
	 	
              By:
                /s/ Lisa Webster         
                

            
	 	
              Name:  Lisa
                Webster

            
	 	
              Title:    Vice
                President

            

    

    

     

     

    
       

      CREDIT
        AGREEMENT SUPPLEMENT

      Signature
        Page

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

    
      	
              PARTICIPATING
                LENDERS:

            	
              WACHOVIA
                BANK, NATIONAL ASSOCIATION,

              as
                a Participating Lender

            
	 	 
	 	 
	 	
              By:
                /s/ Rit N. Amin         
                

            
	 	
              Name:
                Rit N. Amin

            
	 	
              Title:
                DirectorWWW.EXFILE.COM, INC. -- BOSTON SCIENTIFIC CORP. -- EXHIBIT 10.1 TO FORM 10-Q

    EXHIBIT
      10.1

    

    

    

    

    Boston
      Scientific Corporation

    

    2003
      Long-Term Incentive Plan

    

    Deferred
      Stock Unit Award

    

    June
      5, 2007

    

    

    

    

    

    Samuel
      R. Leno

    

    

     

    

     

    

     

    

     

    

     

    

     

    

     

    

     

    

     

    

     

    

     

    

     

    

     

    

     

    

     

    

     

    PLEASE
      RETAIN FOR YOUR RECORDS

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    BOSTON
      SCIENTIFIC CORPORATION

    

    DEFERRED
      STOCK UNIT AWARD

    

    

    This
      Agreement dated as of the 5th of June,
      2007 (the
“Grant Date”) is by and between Boston Scientific Corporation, a Delaware
      corporation (the “Company”)
      and the
“Participant”, an employee of the Company or any of its affiliates or
      subsidiaries.  All capitalized terms not otherwise defined herein
      shall have the meaning ascribed thereto in the Company’s Long-Term
      Incentive Plan set forth on the Signature Page of this Agreement (the
“Plan”).

    

    1.           Grant
      of Award.  The Company hereby awards to the Participant that
      number of Deferred Stock Units set forth on the Signature Page of this Agreement
      (the “Award”), each Deferred Stock Unit representing the Company’s commitment to
      issue to Participant one share of the Company’s common stock, par value $.01 per
      share (the “Stock”), subject to certain eligibility and other conditions set
      forth herein.  The Award is granted pursuant to and is subject to the
      terms and conditions of this Agreement and the provisions of the
      Plan.

    

    2.           Eligibility
      Conditions upon Award of Units.  The Participant hereby
      acknowledges and agrees that the Units awarded hereunder are subject to certain
      eligibility and other conditions set forth herein and in the Plan.

    

    3.           Satisfaction
      of Conditions.  Except as otherwise provided in Section 5 hereof
      (relating to death of the Participant), Section 6 hereof (relating to Retirement
      or Disability of the Participant) and Section 8 hereof (relating to Change
      in
      Control of the Company), the Company shall deliver shares of Stock in the
      amounts set forth on the signature page hereof subject to the eligibility
      conditions described in Section 7 hereof in approximately equal annual
      installments on each of the five anniversaries of the date first set forth
      above, beginning on the first anniversary of the date of grant.  No
      shares of Stock shall otherwise be issued to Participant prior to the date
      on
      which the Units vest.

    

    4.           Participant’s
      Rights in Stock.  The shares of Stock if and when issued hereunder
      shall be registered in the name of the Participant and evidenced in the manner
      as the Company may determine.  During the period prior to the issuance
      of Stock, the Participant will have no rights of a stockholder of the Company
      with respect to the Stock, including no right to receive dividends or vote
      the
      shares of Stock.

    

    5.           Death.  Upon
      the death of the Participant while employed by the Company and its affiliates
      or
      subsidiaries, the Company will issue to the Participant or beneficiary of the
      Participant as set forth under the provisions of the Company’s program of life

     

     

     

     

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    insurance
      for employees, any shares of Stock to be awarded to Participant hereunder that
      remain subject to eligibility conditions.

    

    6.           Retirement
      or Disability.  In the event of the Participant’s Retirement or
      Disability, the Company will issue to Participant any shares of Stock to be
      awarded hereunder that remain subject to eligibility conditions.  For
      purposes of this Agreement, Retirement shall mean (i) Participant’s termination
      from employment at the Company for any reason (other than for Cause (defined
      below)), provided Participant has completed at least three (3) years of service
      with the Company, or (ii) Participant’s involuntary termination from the Company
      (other than for Cause (as defined below)).  For purposes of this
      Agreement, “Cause” shall mean:  (a) conduct constituting a material
      act of misconduct in connection with the performance of Participant’s duties; or
      (b) criminal or civil conviction, a plea of nolo contendere or conduct
      that would reasonably be expected to result in material injury to the reputation
      of the Company if Participant were retained in his position with the
      Company.  In addition, “Disability” shall mean permanent and total
      disability as determined under the Company’s long-term disability program for
      employees then in effect, provided that such disability also meets the
      requirements of Section 409A(a)(2)(C).

     

    
      7.           Change
        in Control of the Company.  In the event of a Change in Control of
        the Company, the Company will issue to Participant any shares of Stock to
        be
        awarded hereunder that remain subject to eligibility conditions.

      

      8.           Other
        Termination of Employment -- Eligibility Conditions.  If the
        Participant voluntarily terminates his employment with the Company prior
        to
        completing three (3) years of service with the Company, any Units that remain
        subject to eligibility conditions shall be void and no Stock shall be issued
        with respect thereto.  Except as provided in Sections 5, 6 and 7,
        eligibility to be issued shares of Stock is conditioned on Participant’s
        continuous employment with the Company through and on the applicable anniversary
        of the date set forth in Section 3 above.

       

    

    9.           Consideration
      for Stock.  The shares of Stock are intended to be issued for no
      cash consideration.

    

    10.         Delivery
      of Stock.  The Company shall not be obligated to deliver any
      shares of Stock to be awarded hereunder until (i) all federal and state laws
      and
      regulations as the Company may deem applicable have been complied with; (ii)
      the
      shares have been listed or authorized for listing upon official notice to the
      New York Stock Exchange, Inc. or have otherwise been
      accorded trading privileges; and (iii) all other legal matters in connection
      with the issuance and delivery of the shares have been approved by the Company’s
      legal department.

     

     

     

     

     

    
 

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    11.          Tax
      Withholding.  The Participant shall be responsible for the payment
      of any taxes of any kind required by any national or local law to be paid with
      respect to the Units or the shares of Stock to be awarded hereunder, including,
      without limitation, the payment of any applicable withholding, income, social
      and similar taxes or obligations.  Except as otherwise provided in
      this Section, upon the issuance of Stock or the satisfaction of any eligibility
      condition with
      respect to the Stock to be issued hereunder, the Company shall hold back from
      the total number of shares of Stock to be delivered to the Participant, and
      shall cause to be transferred to the Company, whole shares of Stock having
      a
      Fair Market Value on the date the shares are subject to issuance an amount
      as
      nearly as possible equal to (rounded to the next whole share) the Company’s
      withholding, income, social and similar tax obligations
      with respect to the Stock.  To the extent of the Fair Market Value of
      the withheld shares, Participant shall be deemed to have satisfied Participant’s
      responsibility under this Section 11 to pay these obligations.  The
      Participant shall satisfy Participant’s responsibility to pay any other
      withholding, income, social or similar tax obligations with respect to the
      Stock, and (subject to such rules as the Executive Compensation and Human
      Resources Committee of the Board of Directors (the
      “Committee”) may prescribe) may satisfy Participant’s responsibility to pay the
      tax obligations described in the immediately preceding sentence, by so
      indicating to the Company in writing at least thirty (30) days prior to the
      date
      the shares of Stock are subject to issuance and paying the amount of these
      tax
      obligations in cash to the Company within ten (10) business days following
      the
      date the Units vest or by making other arrangements satisfactory to the
      Committee for payment of these obligations.  In no event shall whole
      shares be withheld by or delivered to the Company in satisfaction of tax
      withholding requirements in excess of the maximum statutory tax withholding
      required by law.  The Participant agrees to indemnify the Company
      against any and all liabilities, damages, costs and expenses that the Company
      may hereafter incur, suffer or be required to pay with respect to the payment
      or
      withholding of any taxes.  The obligations of the Company under this
      Agreement and the Plan shall be conditional upon such payment or arrangements,
      and the Company shall, to the extent permitted by law, have the right to deduct
      any such taxes from any payment of any kind otherwise due to the
      Participant.

     

    12.           Investment
      Intent.  The Participant acknowledges that the acquisition of the
      Stock to be issued hereunder is for investment purposes without a view to
      distribution thereof.

    

    13.           Limits
      on Transferability.  Until the eligibility conditions of this
      Award have been satisfied and shares of Stock have been issued in accordance
      with the terms of this Agreement or by action of the Committee, the Units
      awarded hereunder are not transferable and shall not be sold, transferred,
      assigned, pledged, gifted, hypothecated or otherwise disposed of or encumbered
      by the Participant.  Transfers of shares of Stock by the Participant
      are subject to the Company’s Stock Trading Policy.

    

    14.           Award
      Subject to the Plan.  The Award made hereunder is subject to the
      terms and conditions of this Agreement and the Plan, and the Participant agrees
      to be 

     

     

     

     

     

     

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    bound
      by
      the terms and conditions of the Agreement and the Plan.  The terms and
      provisions of the Plan as it may be amended from time to time are hereby
      incorporated herein by reference.  This Agreement contains terms and
      provisions established by the Committee specifically for the Award described
      herein.  In all other instances, in the event of a conflict between
      any term or provision contained in this Agreement and a term or provision of
      the
      Plan, the applicable terms and conditions of the Plan shall
      govern.  However, no amendment of the Plan after the date hereof may
      adversely alter the rights of the Participant under this Agreement without
      the
      consent of the Participant.

    

    15.           No
      Rights to Continued Employment.  The Company’s intent to grant the
      shares of Stock hereunder shall not confer upon the Participant any right to
      continued employment or other association with the Company or any of its
      affiliates or subsidiaries; and this Award shall not be construed in any way
      to
      limit the right of the Company or any of its subsidiaries or affiliates to
      terminate the employment or other association of the Participant with the
      Company or to change the terms of such employment or association at any
      time.

    

    16.           Legal
      Notices.  Any legal notice necessary under this Agreement shall be
      addressed to the Company in care of its General Counsel at the principal
      executive offices of the Company and to the Participant at the address appearing
      in the personnel records of the Company for such Participant or to either party
      at such other address as either party may designate in writing to the
      other.  Any such notice shall be deemed effective upon receipt thereof
      by the addressee.

    

    17.           Governing
      Law.  The interpretation, performance and enforcement of this
      Agreement shall be governed by the laws of The Commonwealth of Massachusetts
      (without regard to the conflict of laws principles thereof) and applicable
      federal laws.

    

    18.           Headings.  The
      headings contained in this Agreement are for convenience only and shall not
      affect the meaning or interpretation of this Agreement.

    

    19.           Counterparts.  This
      Agreement may be executed in any number of counterparts, each of which shall
      be
      deemed to be an original and all of which together shall be deemed to the one
      and the same instrument.

    

    

    

    

    [remainder
      of  page intentionally left blank]

    

    

    

    

     

     

     

     

    
 

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    

    SIGNATURE
      PAGE

    

    IN
      WITNESS WHEREOF, the Company, by its
      duly authorized officer, has executed and delivered this Agreement as a sealed
      instrument as of the date and year first above written.

    

    PLAN:  2003
      LONG-TERM INCENTIVE PLAN

    

    Number
      of
      Deferred Stock Units:  500,000

    

    Issuance
      Schedule:

    
       

      
        	
                20%

              	 	
                100,000
                  shares

              	 	
                June
                  5, 2008

              
	
                20%

              	 	
                
                  100,000
                    shares

                

              	 	
                June
                  5, 2009

              
	
                20%

              	 	
                
                  100,000
                    shares

                

              	 	
                June
                  5, 2010

              
	
                20%

              	 	
                
                  100,000
                    shares

                

              	 	
                June
                  5, 2011

              
	
                20%

              	 	
                100,000
                  shares

              	 	
                June
                  5, 2012

              

      

      

    

     

     

    

    
      	 	
              PARTICIPANT

              

              

              

              ___________________________________

              Samuel
                R. Leno

              

               

               

               

              
 

              

              BOSTON
                SCIENTIFIC CORPORATION

              

              
 

              

              By:  ________________________________

              James
                R. Tobin, President and

              Chief
                Executive Officer

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