Document:

Exhibit
  10.3

 

October
  31, 2000

 

Lisa Mogensen

330 East 75th Street, #4F

New York, NY 10021

Dear Lisa,

This letter will confirm your appointment as Chief Financial Officer at TheStreet.com.  We will compensate you as an exempt employee at the rate of $7,291.67 semi-monthly, which is $175,000.00 on an annualized basis.  

 

Your employment with the Company will continue until terminated by either you or the Company.  In the event of any termination of your employment with the Company, you will be entitled to receive only the amounts and/or benefits set forth in this paragraph.  If your employment with the Company is terminated by you for any reason, or by the Company for "Cause", as defined below, then you shall be entitled to receive an amount equal to all earned but unpaid portions of your annual salary and unused vacation days through the date of termination, and following any such termination, you shall not be entitled to receive any other compensation or benefits from the Company hereunder, including, without limitation, any portion of your performance bonus for the year in which you are terminated.  For purposes of this letter, "Cause" shall mean (i) willful misconduct or gross negligence in the
performance of your employment obligations, (ii) dishonesty or misappropriation relating to the Company or any of its funds, properties, or other assets, (iii) inexcusable, repeated or prolonged absence from work, (iv) any unauthorized disclosure of confidential or proprietary information of the Company which is reasonably likely to result in material harm to the Company, (v) violation of the provisions of the Investment Policy, or (vi) a conviction (including entry of a guilty or nolo contendere plea) involving fraud, dishonesty, moral turpitude, or involving a violation of federal or state securities laws, or (vii) failure to perform faithfully your duties to the Company, provided that such failure is not cured, to the extent cure is possible.

 

If your employment is terminated by the Company without Cause, then the Company shall pay or provide to you, as your sole and exclusive remedy, (i) an amount equal to all earned but unpaid portions of the annual salary and unused vacation days through the date of termination, and (ii) continued payment of the annual salary for twelve (12) months.  The salary continuation payments provided for herein are contingent upon your making good faith efforts to find "Replacement Employment", or employment which is similar in duties and responsibilities to that provided for hereunder, and such payments shall be reduced by the corresponding amounts of cash compensation and any publicly traded or freely tradable securities compensation (including, without limitation, securities that will become freely tradable after a restrictive or vesting period) actually received by you after your date of
termination.  Except as set forth above, you shall not be entitled to receive any other compensation or benefits from the Company hereunder.

 

In addition, in the event of a change of control of TheStreet.com in which (i) you are not offered a comparable position in the new entity or (ii) you choose not to continue your employment with such new entity, the Company will pay or provide to you continued payment of your annual salary for twelve (12) months, contingent upon your good faith efforts to find Replacement Employment as described above.

 

 

 

 

We are delighted that you have accepted the position and look forward to a long and productive working relationship.  If you have any questions, please do not hesitate to contact me at 212-321-5515.

 

Sincerely,

 

 

	
            /s/
        Thomas J. Clarke, Jr.
 

 

Thomas J. Clarke, Jr.

	
            Chief Executive Officer
 

 

 

Agreed and accepted:

 

	Signature:	     /s/
      Lisa A. Mogensen	 	 	    
        Date:
	       10/31/00EX-10.17

 

Exhibit 10.17

AMENDMENT NO. 4 AND WAIVER NO. 3

TO REVOLVING CREDIT AGREEMENT

     AMENDMENT NO. 4 AND WAIVER NO. 3 (this “Amendment”), dated as of March 31, 2005, to
the REVOLVING CREDIT AGREEMENT, dated as of August 20, 2003, by and among HAIGHTS CROSS OPERATING
COMPANY (the “Borrower”), the several lenders from time to time parties thereto (the
“Lenders”), BEAR STEARNS CORPORATE LENDING, INC., as Syndication Agent (in such capacity,
the “Syndication Agent”), and THE BANK OF NEW YORK (“BNY”), as administrative agent
for the Lenders (in such capacity, the “Administrative Agent”) as amended by Amendment No.
1 and Waiver No. 1, dated as of January 26, 2004, Amendment No. 2 and Waiver No. 2, dated as of
April 14, 2004, and Amendment No. 3 and Consent No. 3, dated as of December 1, 2004 (and, as
further amended from time to time, the “Credit Agreement”).

RECITALS

     I. Unless defined herein, all capitalized terms used herein shall have the meanings ascribed
to them in the Credit Agreement.

     II. The Borrower has advised the Administrative Agent and the Lenders that (a) its wholly
owned Subsidiary, Oakstone Publishing, LLC (“Oakstone”), intends to make an acquisition of
the Capital Stock of Scott Publishing Company, Inc. (“Scott Publishing”) for a purchase
price not to exceed $3,500,000, including working capital adjustments (the “Scott
Acquisition”) and (b) immediately upon the consummation of the Scott Acquisition, Scott
Publishing will be merged into Oakstone (the “Oakstone-Scott Merger”) pursuant to an
Agreement and Plan of Merger (the “Scott Merger Agreement”).

     III. The Borrower has advised the Administrative Agent and the Lenders that (a) it or one of
its wholly owned Subsidiaries intends to make an acquisition of the Capital Stock of CME Info.com
Inc. (“CME”) for a purchase price not to exceed $8,500,000, including working capital
adjustments (the “CME Acquisition”) and (b) immediately upon the consummation of the CME
Acquisition, CME will be merged into the Borrower or one of its wholly owned Subsidiaries (the
“CME Merger”) pursuant to an Agreement and Plan of Merger (the “CME Merger
Agreement”).

     IV. The Borrower has requested that the Required Lenders agree to:

     (a) amend the definitions of “Consolidated Senior Secured Debt,”
“Consolidated Total Debt” and “Permitted Acquisitions.”

 

 

     (b) amend Section 7.1(b) of the Credit Agreement to reduce the Consolidated Interest
Coverage Ratio to 1.75:1.00 through the fiscal quarter ending June 30, 2006.

     (c) amend Section 7.7 of the Credit Agreement to increase the amount of Capital
Expenditures permitted during each fiscal year by $10,000,000.

     V. The Borrower has also requested that the Required Lenders (a) waive compliance with Section
7.1(c) of the Credit Agreement for the fiscal quarter ending March 31, 2005 through and including
the fiscal quarter ending December 31, 2005 and (b) waive certain requirements of the Credit
Agreement with respect to the Scott Acquisition and the CME Acquisition.

     VI. The Administrative Agent and the Required Lenders have agreed to the Borrower’s requests
on the terms and subject to the conditions set forth in this Amendment.

          Accordingly, in consideration of the covenants, conditions and 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:

     1. Amendments.

          (a) Section 1 of the Credit Agreement is hereby amended by adding, in appropriate alphabetical
order, the following defined terms:

        “Amendment No. 4” shall mean Amendment No. 4 and Waiver No. 3 to
Revolving Credit Agreement, dated as of March 31, 2005, among the Borrower, the
Required Lenders, the Administrative Agent and the Syndication Agreement.

        “Amendment No. 4 Effective Date” shall mean March 31, 2005, provided
that the conditions set forth in Section 5 of Amendment No. 4 are satisfied on or
before April 12, 2005.

        “Cash Management Obligations” shall mean any and all obligations and
liabilities of the Borrower to any Lender in respect of Cash Management Services.

        “Cash Management Services” shall mean treasury or cash management
services, including without limitation, controlled disbursements, automated
clearing house transactions, return items, overdrafts, and interstate depository
services.

2

 

     “CME” shall have the meaning assigned to such term in Amendment No. 4.

     “CME Acquisition” shall have the meaning assigned to such term in
Amendment No. 4.

     “CME Merger Agreement” shall have the meaning assigned to such term in
Amendment No. 4.

     “Oakstone” shall have the meaning assigned to such term in the
Recitals of Amendment No. 4.

     “Oakstone-Scott Merger” shall have the meaning assigned to such term
in the Recitals of Amendment No. 4.

     “Scott Acquisition” shall have the meaning assigned to such term in
the Recitals of Amendment No. 4.

     “Scott Facility” shall have the meaning assigned to such term in
Section 3(b) of Amendment No. 4.

     “Scott Merger Agreement” shall have the meaning assigned to such term
in the Recitals of Amendment No. 4.

     “Scott Publishing” shall have the meaning assigned to such term in the
Recitals of Amendment No. 4.

          (b) Section 1 of the Credit Agreement is hereby amended by deleting the text of the
definitions of “Consolidated Senior Secured Debt,” “Consolidated Total Debt” and
“Permitted Acquisition” and substituting therefor the following:

          “Consolidated Senior Secured Debt”: at any date, (a) the aggregate principal
amount of (i) all outstanding Loans and Reimbursement Obligations hereunder, (ii) all
outstanding Term Loans, (iii) all Capital Lease Obligations of the Borrower and its
Subsidiaries, and (iv) all other secured Indebtedness of the Borrower and its Subsidiaries
outstanding at such date minus (b) the aggregate amount of all cash and cash
equivalents of the Borrower in excess of $25,000,000, provided such cash and cash
equivalents are free and clear of all Liens other than the Liens granted pursuant to the
Security Documents.

          “Consolidated Total Debt”: at any date, (a) the aggregate principal amount of
all Indebtedness, other than Indebtedness under Hedge Agreements, of the Borrower and its
Subsidiaries at such date, determined on a consolidated basis in accordance with GAAP
minus (b) the aggregate amount of all cash and cash

3

 

equivalents of the Borrower in excess of $25,000,000, provided such cash and cash
equivalents are free and clear of all Liens other than the Liens granted pursuant to the
Security Documents.

          “Permitted Acquisition” means an Acquisition (other than acquisitions of
Intellectual Property included in the definition of Capital Expenditures) from a third
party by the Borrower or any Subsidiary from any Person in which the following conditions
are satisfied:

     (a) immediately before and after giving effect to such Acquisition, no Default
or Event of Default shall have occurred and be continuing or would result
therefrom;

     (b) such Acquisition is consummated pursuant to a negotiated merger, purchase
or similar agreement, between the Borrower and/or any of its Subsidiaries, on the
one hand, and such Person and/or any of its Affiliates, on the other hand, and a
copy of such agreement (or the most recent draft thereof) is delivered to the
Administrative Agent at least 10 Business Days prior to the consummation of such
Acquisition together with, to the extent available, (i) consolidated financial
statements (audited if available) of the acquired company for (A) the previous
three fiscal years of such acquired company and (B) the fiscal quarters ending
subsequent to the most recent financial statement delivered under the preceding
clause (b)(i)(A) and completed 45 days or more before the date of such Acquisition,
(ii) a consolidated pro forma balance sheet of Holdings as of the
end of the most recently ended fiscal quarter to have been completed 45 days or
more before the date of such Acquisition, and (iii) projected consolidated
financial statements (including balance sheets and statements of operations and
cash flows) of the Borrower and its subsidiaries (including the acquired company
and its Subsidiaries as if they were Subsidiaries of the Borrower) for the period
from the date of the proposed Acquisition to the Revolver Termination Date,
including pro forma financial covenant calculations for each fiscal
quarter in such period ending on or prior to December 31, 2004, and thereafter as
of the end of each following fiscal year in such period;

     (c) consideration for such Acquisition shall be comprised of Capital Stock of
Holdings, the assumption of Indebtedness permitted under clause (h) of Section 7.2
and/or cash and the aggregate amount of the consideration for such Acquisition
(based on the fair market value of the Capital Stock issued, the amount of
Indebtedness assumed and the cash expended in connection therewith) would not
exceed $15,000,000, when taken together with all other Acquisitions during any
twelve-month period

4

 

commencing after the Amendment No. 4 Effective Date (subject to the provisos
below) (such amount, the “Consideration Cap”); provided
that, (A) (i) if at any time Holdings issues additional Capital Stock and
the proceeds thereof are contributed by Holdings to the Borrower or Holdings issues
Capital Stock which is paid as consideration for such Acquisition, the
Consideration Cap for the twelve month period beginning with the calendar month in
which such equity contribution or issuance occurs shall increase by the amount of
equity proceeds so contributed or issued; and (ii) in no event shall the
Consideration Cap for any twelve month period be greater than $25,000,000 and (B)
the consideration paid for the Scott Acquisition and the CME Acquisition shall not
be included in the calculation of the Consideration Cap so long as (i) the Scott
Acquisition and the CME Acquisition close on or before December 31, 2005, and (ii)
the consideration for the Scott Acquisition and the CME Acquisition is paid from
the sources described in clause (A) of this proviso or from available cash or Cash
Equivalents of the Borrower; and provided further that, (x) if the
consideration for an Acquisition is comprised solely of the proceeds received by
Holdco from the issuance of the Initial Notes or other unsecured Indebtedness of
Holdco which have been or will be contributed by Holdco to the Borrower as equity
and (y) if the assets or Person which are the subject of the Acquisition have had a
positive Acquisition EBITDA for the immediately preceding twelve month period, the
Borrower or its Subsidiaries may make the applicable Acquisition without regard to
the Consideration Cap.

     (d) after giving effect to such Acquisition, the Borrower and its Subsidiaries
shall have at least an aggregate of $10,000,000 in available cash, Cash Equivalents
and available unused Revolving Commitments; and

     (e) the Borrower shall have delivered to the Administrative Agent a
certificate (prepared in good faith and in a manner and using such methodology
which is consistent with the most recent financial statements delivered pursuant to
Section 6.1) giving pro forma effect to the consummation of such
Acquisition and evidencing compliance with the covenants set forth in Section 7.1
and the preceding clauses (b), (c) and (d).”

          (c) Section 2 of the Credit Agreement is amended to add the following Section 2.3:

          2.3. Procedure for Revolving Loan Borrowings for Cash Management Obligations.
Any Revolving Lender providing Cash Management

5

 

Services to the Borrower may, upon occurrence of a default with respect to any Cash
Management Obligations which remains uncured for two Business Days, request on behalf of
the Borrower (and the Borrower hereby irrevocably authorizes such Revolving Lender to so
request on its behalf) that each Revolving Lender make a Base Rate Loan in an amount equal
to such Revolving Lender’s pro rata share of the amount of the Cash Management Obligations
then outstanding. Such request shall be deemed to be a notice of borrowing for purposes
hereof and shall be made in accordance with the provisions of Section 2.2 without regard to
the minimum amounts specified therein but subject to the satisfaction of the conditions set
forth in Section 5.2 (other than clauses (a), (b) and (d)). The requesting Revolving
Lender shall furnish the Borrower with a copy of the notice of borrowing promptly after
delivering such notice to the Administrative Agent. Each Revolving Lender shall make an
amount equal to its pro rata share of the amount specified in such notice of borrowing
available to the Administrative Agent for the account of the requesting Revolving Lender,
by deposit to the Administrative Agent’s account, in same date funds, not later then 12:00
noon, New York City time on the day specified in such notice of borrowing and, upon receipt
thereof, the Administrative Agent shall disburse such funds to the requesting Revolving
Lender.

          (d) Section 6 of the Credit Agreement is amended to add the following Section 6.12:

          6.12 Cash Concentration Account Maintain, at all times during any
period in which any Revolving Lender is providing Cash Management Services to the Borrower,
its primary cash concentration account at an office of such Lender, provided
however, the Borrower shall not be required to continue to maintain such primary cash
concentration at an office of a Revolving Lender if the applicable Revolving Lender is not
then providing Cash Management Services to the Borrower.

          (e) Section 7.1(b) of the Credit Agreement is hereby amended by deleting the text thereof and
substituting therefor the following:

          “(b) Consolidated Interest Coverage Ratio. Permit the Consolidated Interest
Coverage Ratio for any period of four consecutive fiscal quarters of the Borrower ending
with the last day of any period set forth below to be less than the ratio set forth below
opposite such period:

	 	 	 	 	 
	 	 	Consolidated Interest	 
	Period	 	Coverage Ratio	 
	7/1/03 - 9/30/03
	 	 	1.80x	 
	10/1/03 - 12/31/03
	 	 	1.80x	 

6

 

	 	 	 	 	 
	 	 	Consolidated Interest	 
	Period	 	Coverage Ratio	 
	1/1/04 - 3/31/04
	 	 	1.80x	 
	4/1/04 - 6/30/04
	 	 	1.80x	 
	7/1/04 - 9/30/04
	 	 	1.85x	 
	10/1/04 - 12/31/04
	 	 	1.85x	 
	1/1/05 - 3/31/05
	 	 	1.75x	 
	4/1/05 - 6/30/05
	 	 	1.75x	 
	7/1/05 - 9/30/05
	 	 	1.75x	 
	10/1/05 - 12/31/05
	 	 	1.75x	 
	1/1/06 - 6/30/06
	 	 	1.75x	 
	7/1/06 - 9/30/06
	 	 	2.00x	 
	10/1/06 - 12/31/06
	 	 	2.00x	 
	1/1/07 - 3/31/07
	 	 	2.05x	 
	4/1/07 - 6/30/07
	 	 	2.05x	 
	7/1/07 - 9/30/07
	 	 	2.10x	 
	10/1/07 - 12/31/07
	 	 	2.10x	 
	1/1/08-3/31/08
	 	 	2.10x	 
	4/1/08-5/20/08
	 	 	2.10x	 

; provided, that for the purposes of determining the ratio described above for the periods
ending September 30, 2003, December 31, 2003, and March 31, 2004, Consolidated Interest
Expense for the relevant period shall be deemed to equal Consolidated Interest Expense for
such period (and, in the case of the latter two such determinations, each previous period
commencing after the Closing Date) multiplied by 4, 2 and 4/3, respectively.”

          (f) Section 7.7 of the Credit Agreement is hereby amended to delete the text thereof and
substitute therefor the following:

     “Capital Expenditures Make or commit to make any Capital Expenditure, except
Capital Expenditures of the Borrower and its Subsidiaries in the ordinary course of
business not exceeding the amount specified below during the fiscal year set forth below:

	 	 	 	 	 
	Fiscal Year	 	Capital Expenditures	 
	2003
	 	$	18,700,000	 
	2004
	 	$	20,100,000	 
	2005
	 	$	30,100,000	 
	2006
	 	$	31,000,000	 
	2007
	 	$	32,600,000	 
	2008
	 	$	32,600,000	 

provided that (i) any such amount referred to above, if not so expended in the fiscal year
for which it is permitted, may be carried over for expenditure in (but

7

 

only in) the next succeeding fiscal year, (ii) Capital Expenditures made pursuant to this
Section 7.7 during any fiscal year shall be deemed made, first, in respect of amounts
permitted for such fiscal year as provided above and, second, in respect of amounts carried
over from the prior fiscal year pursuant to clause (i) above, and (iii) for purposes of
this Section 7.7 only, expenditures made or committed to acquire fixed or capital assets in
Permitted Acquisitions or pursuant to Permitted Asset Exchanges shall not be deemed to
comprise Capital Expenditures.”

     2. Waiver Regarding Section 7.1(c) of the Credit Agreement

          (a) The Required Lenders hereby waive compliance by the Borrower with Section 7.1(c) of the
Credit Agreement for the fiscal quarter ending March 31, 2005 through and including the fiscal
quarter ending December 31, 2005.

          (b) The Borrower hereby (i) acknowledges that the waiver granted pursuant to Section 2(a) is
limited to the specific Section of the Credit Agreement referred to therein and is not a waiver of
compliance by the Borrower with any other Section of the Credit Agreement or of any Default or
Event of Default which may exist or hereafter occur and (ii) agrees that, notwithstanding the
waiver granted pursuant to Section 2(a), the Borrower shall include calculations of the covenant in
Section 7.1(c) in the Compliance Certificates delivered pursuant to Section 6.2(b) of the Credit
Agreement.

     3. Waivers Regarding the Scott Acquisition

          (a) The Required Lenders hereby waive the obligation of the Borrower and Oakstone to deliver
or to cause Scott Publishing to deliver the documents described in Section 6.10(c) of the Credit
Agreement with respect to Scott Publishing, provided that (i) immediately following the
consummation of the Scott Acquisition, the Administrative Agreement shall have received, and, in
its reasonable discretion, approved, the executed Scott Merger Agreement and (ii) the
Administrative Agent shall have received confirmation satisfactory to it that the Scott-Oakstone
Merger shall have been consummated on the same Business Day as the consummation of the Scott
Acquisition.

          (b) The Required Lenders hereby waive the obligation of the Borrower under Section 6.10(e) of
the Credit Agreement to deliver to the Administrative Agent, upon the consummation of the Scott
Acquisition, a Landlord Waiver with respect to the facility leased by Scott Publishing located at
420 5th Avenue South, Edmunds, Washington (the “Scott Facility”), provided that,
within 120 days after the consummation of the Scott Acquisition, the Borrower or Oakstone (i) uses
commercially reasonable efforts (which shall not require the payment of any fee) to deliver a
Landlord Waiver for the Scott Facility to the Administrative Agent in form and substance reasonably
satisfactory to the Administrative Agent or (ii) delivers to the Administrative Agent evidence
reasonably satisfactory to it that all or substantially all of the personal property located in the
Scott Facility has either (1) been sold or otherwise disposed of or (2) been

8

 

transferred to another location owned by a Borrower or a Guarantor or to a location leased by
the Borrower or a Guarantor, with respect to which the Administrative Agent has previously received
a landlord’s waiver.

          (c) The Borrower hereby (i) acknowledges that the waivers granted pursuant to Sections 3(a)
and (b) are limited to the specific matters referred to therein and are not waivers of compliance
by the Borrower with any other Sections of, or matters relating to, the Credit Agreement or of any
Default or Event of Default which may exist or hereafter occur and (ii) agree that, in the event,
notwithstanding the waiver granted in Section 3(a), the Scott-Oakstone Merger is not consummated on
the same Business Day as the consummation of the Scott Acquisition, the Borrower and Oakstone will
deliver, or cause Scott Publishing to deliver, the documents described in Section 6.10(c) of the
Credit Agreement.

     4. Waivers Regarding CME Acquisition

          (a) The Required Lenders hereby waive the obligation of the Borrower or its wholly owned
Subsidiary to deliver or to cause CME to deliver the documents described in Section 6.10(c) of the
Credit Agreement with respect to CME, provided that (i) immediately following the consummation of
the CME Acquisition, the Administrative Agreement shall have received, and, in its reasonable
discretion, approved, the executed CME Merger Agreement and (ii) the Administrative Agent shall
have received confirmation satisfactory to it that CME Merger shall have been consummated on the
same Business Day as the consummation of the CME Acquisition.

          (b) The Borrower hereby (i) acknowledges that the waivers granted pursuant to Sections 4(a)
are limited to the specific matters referred to therein and are not waivers of compliance by the
Borrower with any other Sections of, or matters relating to, the Credit Agreement or of any Default
or Event of Default which may exist or hereafter occur and (ii) agree that, in the event,
notwithstanding the waiver granted in Section 4(a), the CME Merger is not consummated on the same
Business Day as the consummation of the CME Acquisition, the Borrower and or its wholly owned
Subsidiary will deliver, or cause CME to deliver, the documents described in Section 6.10(c) of the
Credit Agreement.

     5. Conditions to Effectiveness.

          This Amendment shall be effective as of March 31, 2005, provided that the following conditions
are satisfied on or before April 12, 2005:

          (a) the Administrative Agent shall have received this Amendment executed by a duly authorized
signatories of the Borrower and each of the Guarantors and by each of the Required Lenders; and

9

 

          (b) the Administrative Agent shall have received an amendment and waiver fee for the benefit
of each Lender executing this Amendment equal to 0.125% of such Lender’s commitment.

          (c) the Administrative Agent shall have received such other documents as the Administrative
Agent may reasonably request.

     6. Miscellaneous

          (a) The Borrower hereby:

          (i) acknowledges and reaffirms its obligations under, and confirms the validity and
enforceability of, the Credit Agreement and the other Loan Documents;

          (ii) represents and warrants that, after giving effect to this Amendment, there exists
no Default or Event of Default and no Default or Event of Default will result from the
consummation of the transactions described in this Amendment; and

          (iii) represents and warrants that the representations and warranties contained in the
Credit Agreement (other than the representations and warranties made as of a specific date)
are true and correct in all material respects on and as of the date hereof.

          (iv) represents and warrants that the Scott Acquisition is a Permitted Acquisition
under the definition of Permitted Acquisition and the consideration to be paid therefor is
within the Consideration Cap.

          (b) Each of the Guarantors, by signing this Amendment, hereby:

          (i) acknowledges and consents to the execution of this Amendment; and

          (ii) acknowledges and reaffirms its obligations under, and confirms the validity and
enforceability of, the Guarantee and Collateral Agreement and the other Loan Documents to
which it is a party.

          (b) This Amendment may be executed in any number of counterparts and by facsimile,
each of which shall be an original and all of which shall constitute one agreement. It
shall not be necessary in making proof of this Amendment to produce or account for more
than one counterpart signed by the party to be charged.

10

 

          (c) This Amendment is being delivered in and is intended to be performed in the State
of New York and shall be construed and enforceable in accordance with, and be governed by,
the internal laws of the State of New York without regard to principles of conflict of
laws.

          (d) The Borrower agrees to pay the reasonable fees and expenses of the Administrative
Agent’s counsel in connection with this Amendment and any other fees due to the
Administrative Agent.

[THE REMAINDER OF THIS PAGE HAS BEEN INTENTIONALLY LEFT BLANK]

11

 

HAIGHTS CROSS AMENDMENT
NO. 4

     IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and
delivered by their proper and duly authorized officers as of the day and year first above written.

	 	 	 	 	 
	 	BORROWER:

HAIGHTS CROSS OPERATING COMPANY

 	 
	 	By:  	             /s/ Paul J. Crecca
 	 
	 	 	Name:  	Paul J. Crecca 	 
	 	 	Title:  	EVP & CFO 	 
	 

 

 

HAIGHTS CROSS AMENDMENT
NO. 4

	 	 	 	 	 
	 	GUARANTORS:

HAIGHTS CROSS COMMUNICATIONS, INC.

 	 
	 	By:  	             /s/ Paul J. Crecca
 	 
	 	 	Name:  	Paul J. Crecca 	 
	 	 	Title:  	EVP & CFO 	 
	 

	 	 	 	 	 
	 	SUNDANCE/NEWBRIDGE

 EDUCATIONAL PUBLISHING, LLC

 	 
	 	By:  	             /s/ Paul J. Crecca
 	 
	 	 	Name:  	Paul J. Crecca 	 
	 	 	Title:  	Vice President 	 
	 

	 	 	 	 	 
	 	TRIUMPH LEARNING, LLC

 	 
	 	By:  	             /s/ Paul J. Crecca
 	 
	 	 	Name:  	Paul J. Crecca 	 
	 	 	Title:  	Vice President 	 
	 

	 	 	 	 	 
	 	RECORDED BOOKS, LLC

 	 
	 	By:  	             /s/ Paul J. Crecca
 	 
	 	 	Name:  	Paul J. Crecca 	 
	 	 	Title:  	Vice President 	 
	 

	 	 	 	 	 
	 	OAKSTONE PUBLISHING, LLC

 	 
	 	By:  	             /s/ Paul J. Crecca
 	 
	 	 	Name:  	Paul J. Crecca 	 
	 	 	Title:  	Vice President 	 
	 

 

 

HAIGHTS CROSS AMENDMENT
NO. 4

	 	 	 	 	 
	 	CHELSEA HOUSE PUBLISHERS, LLC

 	 
	 	By:  	             /s/ Paul J. Crecca
 	 
	 	 	Name:  	Paul J. Crecca 	 
	 	 	Title:  	Vice President 	 
	 

	 	 	 	 	 
	 	THE CORIOLIS GROUP, LLC

 	 
	 	By:  	             /s/ Paul J. Crecca
 	 
	 	 	Name:  	Paul J. Crecca 	 
	 	 	Title:  	Vice President 	 
	 

	 	 	 	 	 
	 	W F HOWES LIMITED

 	 
	 	By:  	             /s/ Paul J. Crecca
 	 
	 	 	Name:  	Paul J. Crecca 	 
	 	 	Title:  	Vice President 	 
	 

	 	 	 	 	 
	 	OPTIONS PUBLISHING, LLC

 	 
	 	By:  	             /s/ Paul J. Crecca
 	 
	 	 	Name:  	Paul J. Crecca 	 
	 	 	Title:  	Vice President 	 

 

 

	 	 	 	 	 

HAIGHTS CROSS AMENDMENT
NO. 4

	 	 	 	 	 
	 	THE BANK OF NEW YORK, 

as a Lender and as Administrative Agent

 	 
	 	By:  	              /s/ Steven T. Correll
 	 
	 	 	Name:  	Steven T. Correll 	 
	 	 	Title:  	Vice President 	 

 

 

	 	 	 	 	 

HAIGHTS CROSS AMENDMENT
NO. 4

	 	 	 	 	 
	 	BEAR STEARNS CORPORATE LENDING, INC., as a

Lender and as Syndication Agent

 	 
	 	By:  	             /s/ Richard Bram Smith
 	 
	 	 	Name:  	Richard Bram Smith 	 
	 	 	Title:  	Vice President 	 

 

 

HAIGHTS CROSS AMENDMENT NO. 4

	 	 	 	 	 
	 	CIT LENDING SERVICES CORPORATION, as a Lender

 	 
	 	By:  	             /s/ Donald J. Oberg Jr.
 	 
	 	 	Name:  	Donald J. Oberg Jr. 	 
	 	 	Title:  	Vice President 	 

 

 

HAIGHTS CROSS AMENDMENT NO. 4

	 	 	 	 	 
	 	VAN KAMPEN SENIOR LOAN FUND

By: Van Kampen Asset Management

 	 
	 	By:  	             /s/ Darvin D. Pierce
 	 
	 	 	Name:  	Darvin D. Pierce 	 
	 	 	Title:  	Executive Director 	 
	 

	 	 	 	 	 
	 	VAN KAMPEN SENIOR INCOME TRUST

By: Van Kampen Asset Management

 	 
	 	By:  	             /s/ Darvin D. Pierce
 	 
	 	 	Name:  	Darvin D. Pierce 	 
	 	 	Title:  	Executive Director

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00084-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00084-of-00352.parquet"}]]