Document:

Exhibit 10.67 - Reading International Supplemental Executive Retirement Plan
      effective March 1, 2007

    READING
      INTERNATIONAL

     

    SUPPLEMENTAL
      EXECUTIVE RETIREMENT PLAN (SERP)

     

    (Effective
      March 1, 2007)

     

    
      
        
           

        

         

      

      
         

        
          

        

      

      
         

        
        

      

    

    READING
      INTERNATIONAL

     

    SUPPLEMENTAL
      EXECUTIVE RETIREMENT PLAN (SERP)

    

      
        	
                ARTICLE
                  I

              	
                INTRODUCTION

              	
                1

              
	
                1.1.

              	
                Name

              	
                1

              
	
                1.2.

              	
                Effective
                  Date

              	
                1

              
	
                1.3.

              	
                Purpose

              	
                1

              
	
                1.4.

              	
                Legal
                  Status

              	
                1

              
	
                ARTICLE
                  II

              	
                DEFINITIONS

              	
                1

              
	
                2.1.

              	
                Administrator

              	
                1

              
	
                2.2.

              	
                Beneficiary

              	
                1

              
	
                2.3.

              	
                Board
                  of Directors

              	
                2

              
	
                2.4.

              	
                Company

              	
                2

              
	
                2.5.

              	
                Earnings

              	
                2

              
	
                2.6

              	
                Eligible
                  Employee

              	
                2

              
	
                2.7.

              	
                ERISA

              	
                2

              
	
                2.8.

              	
                15-Year
                  Certain and Life Annuity

              	
                2

              
	
                2.9.

              	
                15-Year
                  Certain Only Annuity

              	
                2

              
	
                2.10.

              	
                Final
                  Average Earnings

              	
                2

              
	
                2.11.

              	
                Internal
                  Revenue Code

              	
                2

              
	
                2.12.

              	
                Participant

              	
                2

              
	
                2.13.

              	
                Plan

              	
                3

              
	
                2.14.

              	
                Plan
                  Year

              	
                3

              
	
                2.15.

              	
                Separation
                  from Service

              	
                3

              
	
                2.16.

              	
                SERP
                  Benefit

              	
                3

              
	
                2.17.

              	
                Vested
                  Percentage

              	
                3

              
	
                ARTICLE
                  III

              	
                PARTICIPATION
                  IN THE PLAN

              	
                3

              
	
                3.1.

              	
                Eligibility
                  and Participation

              	
                3

              
	
                ARTICLE
                  IV

              	
                SERP
                  BENEFIT

              	
                3

              
	
                4.1.

              	
                SERP
                  Benefit

              	
                3

              
	
                4.2.

              	
                Vested
                  Percentage

              	
                3

              
	
                4.3.

              	
                Distribution
                  of SERP Benefit

              	
                3

              
	
                4.4.

              	
                Death
                  Benefits

              	
                4

              
	
                ARTICLE
                  V

              	
                FUNDING
                  AND PARTICIPANT’S INTEREST

              	
                4

              
	
                5.1.

              	
                Unfunded
                  SERP

              	
                4

              
	
                5.2.

              	
                Participant’s
                  Interest in Plan

              	
                4

              
	
                ARTICLE
                  VI

              	
                ADMINISTRATION
                  AND INTERPRETATION

              	
                4

              
	
                6.1.

              	
                Administration

              	
                4

              
	
                6.2.

              	
                Interpretation

              	
                5

              
	
                6.3.

              	
                Records
                  and Reports

              	
                5

              
	
                6.4.

              	
                Payment
                  of Expenses

              	
                5

              
	
                6.5.

              	
                Indemnification
                  for Liability

              	
                6

              
	
                6.6.

              	
                Claims
                  Procedure

              	
                6

              
	
                6.7.

              	
                Review
                  Procedure

              	
                6

              
	
                6.8.

              	
                Incompetency
                  of Participant or Beneficiary

              	
                7

              
	
                ARTICLE
                  VII

              	
                AMENDMENT,
                  TERMINATION AND CONTINUATION

              	
                7

              
	
                7.1.

              	
                Amendment
                  and Termination

              	
                7

              
	
                7.2.

              	
                Continuation

              	
                8

              
	
                ARTICLE
                  VIII

              	
                MISCELLANEOUS
                  PROVISIONS

              	
                8

              
	
                8.1.

              	
                Alienation
                  or Assignment of Benefits

              	
                8

              
	
                8.2.

              	
                Right
                  to Withhold

              	
                8

              
	
                8.3.

              	
                Construction

              	
                8

              
	
                8.4.

              	
                Headings

              	
                8

              
	
                8.5.

              	
                Number
                  and Gender

              	
                8

              
	
                8.6.

              	
                Limitation
                  of Liability

              	
                8

              

      

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    READING
      INTERNATIONAL

    SUPPLEMENTAL
      EXECUTIVE RETIREMENT PLAN (SERP)

     

    (Effective
      March 1, 2007)

     

    ARTICLE
      I

    INTRODUCTION

     

    1.1. Name.
      The
      name of the Plan is the Reading International Supplemental Executive Retirement
      Plan (SERP).

     

    1.2. Effective
      Date.
      The
      effective date of the Plan is March 1, 2007. 

     

    1.3. Purpose.
      This
      Plan is established for the purpose of providing supplemental retirement
      benefits to James J. Cotter, Chief Executive Officer and Chairman of the Board
      of Directors of the Company to reward him for his more than 15 years of service
      to the Company and its predecessors. 

     

    1.4. Legal
      Status.
      The
      Plan is an unfunded plan of deferred compensation subject to Internal Revenue
      Code Section 409A, is subject to FICA taxes in accordance with the non-account
      balance provisions of Internal Revenue Code Section 3121, and is an unfunded,
      nonqualified plan of deferred compensation for a select group of management
      or
      highly compensated employees for purposes of Title I of ERISA. 

     

    ARTICLE
      II

    DEFINITIONS

     

    Whenever
      the following initially capitalized words and phrases are used in the Plan,
      they
      shall have the meanings specified below unless the context clearly indicates
      a
      different meaning: 

     

    2.1. “Administrator”
shall
      mean the Compensation Committee of the Board of Directors of the Company, and
      any successor thereto. In the absence of such committee, the Board of Directors
      of the Company shall be the Administrator.

     

    2.2. “Beneficiary”
shall
      mean such person(s) or legal entity as may be designated by a Participant or
      by
      a Beneficiary receiving SERP Benefits to receive any SERP Benefits due from
      the
      Plan following the Participant’s or Beneficiary’s death. Any contingent
      Beneficiary shall be the Beneficiary only after the death of all primary
      Beneficiaries. Any restrictions on payment to a minor beneficiary shall be
      determined by the Administrator in its

     

    
      
         

      

      
        -1-

        
          

        

      

      
         

      

    

    reasonable
      discretion. In the event a Beneficiary has not been designated or no Beneficiary
      survives, the Beneficiary shall be deemed to be the estate of the Participant
      if
      the Participant dies while in receipt of SERP Benefits or the estate of the
      Beneficiary if the Beneficiary dies while in receipt of SERP Benefits. A
      designation of a Beneficiary must be made, changed and/or revoked, prior to
      the
      Participant or Beneficiary’s death, as applicable, on a form provided by and
      filed with the Administrator and shall not be effective until received by the
      Administrator. The administration of this provision shall be subject to the
      terms of the last beneficiary designation form on file with the Administrator.
      Attached hereto is an acceptable form of Beneficiary Designation. 

     

    2.3. “Board
      of Directors”
shall
      mean the Company’s Board of Directors. 

     

    2.4. “Company”
shall
      mean Reading International, Inc. or its successor. 

     

    2.5. “Earnings”
shall
      mean the total base pay and cash bonus paid by the Company to an Eligible
      Employee as and when paid during any calendar month on or after January 1,
      2004.

     

    2.6. “Eligible
      Employee”
shall
      mean James J. Cotter, Chairman of the Board and Chief Executive Officer of
      the
      Company on the Effective Date. 

     

    2.7. “ERISA”
shall
      mean the Employee Retirement Income Security Act of 1974, as amended.

     

    2.8. “15-Year
      Certain and Life Annuity”
shall
      mean monthly payments of the SERP Benefit to the Participant for his life with
      a
      guarantee of at least 180 monthly payments. In the event of the Participant’s
      death prior to receiving at least 180 monthly payments, the remaining payments
      will be paid on a monthly basis to the Participant’s Beneficiary. 

     

    2.9. “15-Year
      Certain Only Annuity”
shall
      mean monthly payments to the Beneficiary of the SERP Benefit for 180 months.
      

     

    2.10. “Final
      Average Earnings”
shall
      mean the sum of the highest 36 consecutive calendar months of Earnings prior
      to
      Separation from Service, divided by 36. 

     

    2.11. “Internal
      Revenue Code”
shall
      mean the Internal Revenue Code of 1986, as amended. 

     

    2.12. “Participant”
shall
      mean an Eligible Employee but only for the period in which he is an Eligible
      Employee or has a benefit payable to or with respect to him from the Plan.
      

     

    
      
         

      

      
        -2-

        
          

        

      

      
         

      

    

    2.13. “Plan”
shall
      mean the Reading International SERP effective March 1, 2007, as set forth herein
      and as may be amended from time to time in accordance with the terms of the
      Plan. 

     

    2.14. “Plan
      Year”
shall
      mean the calendar year beginning with the 2006 calendar year. 

     

    2.15. “Separation
      from Service”
shall
      mean a separation from service with the Company and all controlled group members
      within the meaning of Section 409A of the Internal Revenue Code as reasonably
      determined by the Administrator. 

     

    2.16. “SERP
      Benefit”
shall
      mean a Participant’s Benefit determined pursuant to Article IV. 

     

    2.17. “Vested
      Percentage”
shall
      mean the percentage of the Participant’s vesting in the SERP Benefit determined
      according to Section 4.2. 

     

    ARTICLE
      III

    PARTICIPATION
      IN THE PLAN

     

    3.1. Eligibility
      and Participation.
      An
      Eligible Employee shall become a Participant on the later of March 1, 2007
      or
      the date he first becomes an Eligible Employee. A Participant shall cease to be
      a Participant when all benefits payable from the Plan to or with respect to
      him
      have been fully paid by the Company. 

     

    ARTICLE
      IV

    SERP
      BENEFIT

     

    4.1. SERP
      Benefit.
      The
      monthly SERP Benefit is equal to the greater of: 

     

    (a) 40%
      of
      Final Average Earnings, or 

     

    (b) $25,000,

     

    multiplied
      by the Vested Percentage. 

     

    4.2. Vested
      Percentage.
      The
      Vested Percentage is 100% at all times. 

     

    4.3. Distribution
      of SERP Benefit.
      Following Separation from Service for reasons other than death, a Participant
      shall receive the SERP Benefit in the form of a 15-Year Certain and Life
      Annuity. The first payment of the SERP Benefits will be delayed until the
      beginning of the 7th
      month
      following the month of the Participant’s Separation from Service
      and

     

    
      
         

      

      
        -3-

        
          

        

      

      
         

      

    

    will
      be
      equal the sum of 7 monthly payments (the six payments delayed plus the payment
      due at the beginning of the 7th
      month,
      all without interest). 

     

    4.4. Death
      Benefits.
      If a
      Participant has a Separation from Service due to death, the Participant’s
      Beneficiary shall receive the SERP Benefit that would have been payable to
      the
      Participant if he had survived and had a Separation from Service on the same
      day
      as his death, except that the 6-month delay set forth in Section 4.3 shall
      not
      apply and the form of payment shall be a 15-year Certain Only Annuity.

     

    ARTICLE
      V

    FUNDING
      AND PARTICIPANT’S INTEREST

     

    5.1. Unfunded
      SERP.
      The
      Plan shall be unfunded and no trust is created by the existence of the Plan.
      There will be no funding of any SERP Benefit; provided, however, that nothing
      herein shall prevent the Company from establishing one or more grantor trusts
      from which SERP Benefits may be paid. All SERP Benefits shall be paid from
      (a)
      the general assets of the Company and/or (b) a grantor trust established by
      the
      Company for this purpose. The Plan constitutes an unsecured contractual
      obligation by the Company to make benefit payments in the future. 

     

    5.2. Participant’s
      Interest in Plan.
      A
      Participant has an interest only in the SERP Benefits to the extent of his
      vested percentage determined under Article IV. A Participant has no rights
      or
      interests in any specific funds, stock or securities of the Company by reason
      of
      participation in the Plan and entitlement to a SERP Benefit. Nothing in the
      Plan
      shall be interpreted as a guaranty that any funds in a grantor trust or the
      assets of the Company will be sufficient to pay the SERP Benefit. The right
      of
      any Participant or Beneficiary to a SERP Benefit shall be no greater than the
      right of any unsecured general creditor of the Company. 

     

    ARTICLE
      VI

    ADMINISTRATION
      AND INTERPRETATION

     

    6.1. Administration.
      The
      Administrator shall be in charge of the overall operation and administration
      of
      the Plan. The Administrator has, to the extent appropriate and in addition
      to
      the powers described elsewhere in this Plan, reasonable discretionary authority
      to construe and interpret the terms and provisions of the Plan; to adopt, alter
      and repeal administrative rules, guidelines and practices governing the Plan;
      to
      perform all acts, including the delegation of its administrative
      responsibilities to advisors or other persons who may or may not be employees
      of
      the Company; and to rely upon the information or opinions of legal
      counsel

     

    
      
         

      

      
        -4-

        
          

        

      

      
         

      

    

    or
      experts selected to render advice with respect to the Plan, as it shall
      reasonably deem advisable, with respect to the administration of the Plan.
      

     

    6.2. Interpretation.
      The
      Administrator may reasonably take any action, correct any defect, supply any
      omission or reconcile any inconsistency in the Plan, or in any Beneficiary
      designation under the Plan, in the manner and to the extent it shall deem
      necessary to carry this Plan into effect or to carry out the Company’s intent
      and purposes in adopting the Plan. Any decision, interpretation or other action
      made or taken in good faith by the Administrator arising out of or in connection
      with the Plan, shall be within its reasonable discretion, and shall be final,
      binding and conclusive on the Company and all Participants and Beneficiaries
      and
      their respective heirs, executors, administrators, successors and assigns,
      except as otherwise provided in this Article VI. The Administrator’s
      determinations hereunder need not be uniform or consistent. 

     

    6.3. Records
      and Reports.
      The
      Administrator shall keep a record of proceedings and actions and shall maintain
      or cause to be maintained all such books of account, records, and other data
      as
      shall be necessary for the proper administration of the Plan. Such records
      shall
      contain all relevant data pertaining to Participants and their rights under
      this
      Plan. The Administrator shall have the duty to carry into effect all rights
      or
      benefits provided under the Plan to the extent assets of the Company are
      properly available. 

     

    6.4. Payment
      of Expenses.
      The
      Company shall bear all expenses incurred by the Administrator in administering
      this Plan. If a claim or dispute arises concerning the rights of a Participant
      or Beneficiary to a SERP Benefit, regardless of the party by whom such claim
      or
      dispute is initiated, the Company shall, upon presentation of appropriate
      vouchers, pay all legal expenses, including reasonable attorneys’ fees, court
      costs, and ordinary and necessary out-of-pocket costs of attorneys, billed
      to
      and payable by the Participant or by anyone claiming under or through the
      Participant (such person being hereinafter referred to as the “Participant’s
      Claimant”), in connection with the bringing, prosecuting, defending, litigating,
      negotiating, or settling of such claim or dispute; provided, that:

     

    (a) The
      Participant or the Participant’s Claimant shall sign an agreement to repay to
      the Company any such expenses theretofore paid or advanced by the Company if
      and
      to the extent that the party disputing the Participant’s rights obtains a
      judgment in its favor from a court of competent jurisdiction from which no
      appeal may be taken, whether because the time to do so has expired or otherwise,
      and it is determined by the court that such expenses were not incurred by the
      Participant or the Participant’s Claimant while acting in good faith; provided
      further, that

     

    
      
         

      

      
        -5-

        
          

        

      

      
         

      

    

    (b) In
      the
      case of any claim or dispute initiated by the Participant or the Participant’s
      Claimant, such claim shall be made, or notice of such dispute given, with
      specific reference to the provisions of this Plan, to the Administrator within
      two (2) years after the occurrence of the event giving rise to such claim or
      dispute.

     

    (c) Any
      payment under this Section 6.4 shall be made not later than March 15 of the
      Plan
      Year following the Plan Year in which the expense was incurred by the
      Participant or Participant’s Claimant to the extent such payments would
      otherwise be subject to Section 409A of the Internal Revenue Code, and only
      if
      documentation required by the Administrator is timely received from the
      Participant or the Participant’s Claimant. 

     

    6.5. Indemnification
      for Liability.
      The
      Company shall indemnify the Administrator and the employees of the Company
      to
      whom the Administrator delegates duties under this Plan, against any and all
      claims, losses, damages, expenses and liabilities arising from their
      responsibilities in connection with this Plan, unless the same is determined
      to
      be due to gross negligence or willful misconduct. 

     

    6.6. Claims
      Procedure.
      If a
      written claim by a Participant or Beneficiary or duly authorized representative
      of either of them (“Claimant”) to the Administrator for a SERP Benefit or for
      participation in the Plan is denied in whole or in part, the Claimant will
      receive written notification within 90 days after receipt of the claim, or
      within 180 days if special circumstances require an extension of time, in which
      event the Claimant will be notified in writing of the delay during the initial
      90-day period and the notice will indicate the special circumstances requiring
      an extension of time and the date by which the Administrator expects to render
      the decision. The notification will include specific reasons for the denial,
      specific reference to pertinent provisions of the Plan on which the denial
      is
      based, a description of any additional material or information necessary for
      the
      Claimant to perfect the claim and why such material or information is necessary,
      an explanation of the claims review procedure, the time limits applicable under
      the claims review procedure, and a statement of the Claimant’s right to bring a
      civil action under Section 502(a) of ERISA following any adverse determination
      on review. 

     

    6.7. Review
      Procedure.
      The
      Claimant shall have 60 days after the written notice of denial is received
      to
      apply to the Administrator in writing for a full and fair review of the initial
      claim denial. In connection with the review, the Claimant shall be afforded
      reasonable opportunity to review pertinent Plan documents and may submit issues
      and comments in writing. In addition, the Claimant shall have the right to
      submit documents, records and other information relating to the claim, and
      shall
      be provided, upon request and free of charge, reasonable access to

     

    
      
         

      

      
        -6-

        
          

        

      

      
         

      

    

    and
      copies of all documents, records, and other information relevant to the claim
      (as defined in applicable regulations under ERISA Section 503). 

     

    The
      Administrator will issue its decision on review within 60 days after receipt
      of
      the request for review or within 120 days if special circumstances require
      an
      extension of time to reply. Written notice of any extension will b provided
      to
      the Claimant before any extension begins, and the notice will indicate the
      special circumstance requiring the extension as well as the time and date by
      which the Administrator expects to render the determination on review. The
      decision will be in writing, will set forth specific reasons for the decision
      and specific references to the pertinent Plan provisions on which the decision
      is based. In addition, the written notice of any decision denying the claim
      on
      appeal will include a statement that the Claimant is entitled to receive, upon
      request and free of charge, reasonable access to and copies of all documents,
      records, and other information relevant to the Claimant’s claim for benefits,
      and a statement of the Claimant’s right to bring an action under Section 502(a)
      of ERISA. 

     

    6.8. Incompetency
      of Participant or Beneficiary.
      The
      Administrator may from time to time establish reasonable rules and procedures
      for the proper administration of the Plan and the benefits payable to an
      individual in the event that the individual is declared incompetent and a
      conservator or other person legally charged with such individual’s care is
      appointed. Any payment made to the conservator or any other person the
      Administrator determines should receive the SERP Benefit shall constitute a
      complete discharge of any liability of the Company, the Administrator and the
      Plan with respect to the Participant or Beneficiary and no person or entity
      shall have standing to challenge such decision. 

     

    ARTICLE
      VII

    AMENDMENT,
      TERMINATION AND CONTINUATION

     

    7.1. Amendment
      and Termination.
      The
      Administrator shall have the right, at any time, to amend or terminate the
      Plan
      in whole or in part; provided, however, that no amendment or termination shall
      be permissible if it would reduce the amount of the SERP benefit to which the
      Participant would have been entitled if he terminated employment on the
      effective date of the amendment or termination. The Company, upon review of
      the
      effectiveness of the Plan, may at any time recommend amendments to or
      termination of the Plan to the Administrator. The Administrator reserves the
      right, in its reasonable discretion, to completely terminate the Plan at any
      time, provided, however, that termination of the Plan shall not be a
      distribution event unless otherwise permitted under Section 409A or other
      applicable law, as determined by the Administrator. 

     

    
      
         

      

      
        -7-

        
          

        

      

      
         

      

    

    7.2. Continuation.
      The
      Plan shall be continued by any successor of the Company pursuant to a sale
      of
      the assets of the Company, or a merger or consolidation of the Company into
      or
      with another corporation or entity. 

     

    ARTICLE
      VIII

    MISCELLANEOUS
      PROVISIONS

     

    8.1. Alienation
      or Assignment of Benefits.
      A
      Participant’s rights and interest under the Plan shall not be assigned or
      transferred except as otherwise provided herein, and the Participant’s rights to
      a SERP Benefit shall not be subject to alienation, pledge or garnishment by
      or
      on behalf of creditors (including heirs, beneficiaries, or dependents) of the
      Participant or of a Beneficiary, except to the extent provided in a domestic
      relations court order issued to a spouse or former spouse of a Participant
      in
      connection with a divorce if the order is determined by the Administrator to
      be
      proper under the Internal Revenue Code to transfer tax liability to such spouse
      or former spouse and not violative of the terms of applicable law including
      Internal Revenue Code Section 409A. 

     

    8.2. Right
      to Withhold.
      To the
      extent required by law at the time of any vesting or distribution of a SERP
      Benefit, required taxes shall be collected from the Participant or Beneficiary
      or withheld from any payment of the SERP Benefits to the extent required by
      and
      in compliance with applicable federal, state or local laws. 

     

    8.3. Construction.
      All
      legal questions pertaining to the Plan shall be determined in accordance with
      the laws of the State of California, to the extent such laws are not preempted
      or superseded by the Internal Revenue Code, ERISA or any successor, replacement
      or other applicable federal law. 

     

    8.4. Headings.
      The
      headings of the Articles and Sections of the Plan are for reference only. In
      the
      event of a conflict between a heading and the contents of an Article or Section,
      the contents of the Article or Section shall control. 

     

    8.5. Number
      and Gender.
      Whenever any words used herein are in the singular form, they shall be construed
      as though they were also used in the plural form in all cases where they would
      so apply, and references to the male gender shall be construed as applicable
      to
      the female gender where applicable, and vice versa. 

     

    8.6. Limitation
      of Liability.
      Notwithstanding any provision herein to the contrary, the Company, nor any
      individual acting as employee or agent of the Company, shall be liable to any
      Participant, former Participant, Beneficiary, or any other person for any claim,
      loss, 

     

    
      
         

      

      
        -8-

        
          

        

      

      
         

      

    

     

    liability
      or expense incurred in connection with the Plan, unless attributable to fraud
      or
      willful misconduct on the part of the Company or any such agent of the Company,
      or a breach by the Company of any provision of the SERP that results in a
      reduction of the SERP benefit. 

     

    *
      * *
      *

     

    IN
      WITNESS WHEREOF, the Company has caused this Plan to be executed by its duly
      authorized officer on date of signature set forth below. 

    

      
        	 	
                READING
                  INTERNATIONAL, INC. 

              
	 	 
	 	 
	 	
                By:

              	 
	 	 	
                Alfred
                  Villaseñor, Jr., Chairman, Compensation Committee of Board of
                  Directors

              
	 	 
	 	
                Date
                  Signed:

              	 

      

    

     

    
      
         

      

      
        -9-RJF March 2007 10-Q

     

    Exhibit
      10.9.3

    AMENDMENT
      NO. 2 AND WAIVER

     

    TO

     

    AMENDED
      AND RESTATED REVOLVING CREDIT AGREEMENT

     

    This
      AMENDMENT NO. 2 AND WAIVER TO AMENDED AND RESTATED REVOLVING CREDIT AGREEMENT
      (“Amendment
      No. 2”)
      is
      dated as of April 16, 2007 by and among RAYMOND JAMES FINANCIAL, INC., a Florida
      corporation (the “Borrower”),
      the
      Lenders named on the signature page hereto (the “Lenders”),
      and
      JPMORGAN CHASE BANK, N.A., individually and as administrative agent (the
“Agent”)
      for
      the Lenders.

     

    W
      I T N E
      S S E T H:

     

    WHEREAS,
      the Borrower, the Agent and the Lenders are parties to that certain Amended
      and
      Restated Revolving Credit Agreement dated as of October 13, 2005, as amended
      by
      Amendment No. 1 and Waiver to Amended and Restated Revolving Credit Agreement
      dated as of October 11, 2006 (the “Credit Agreement”);
      and

     

    WHEREAS,
      the parties desire to undertake a further amendment and waiver to the Credit
      Agreement as set forth herein.

     

    NOW,
      THEREFORE, in consideration of the premises herein contained, and for other
      good
      and valuable consideration, the receipt of which is hereby acknowledged, the
      parties hereby agree as follows:

     

    
      	I.  	
              Defined
                Terms

            

    

     

    Capitalized
      terms used but not defined herein are used with the meanings assigned to them
      in
      the Credit Agreement.

     

    
      	II.  	
              Amendment
                to the Credit
                Agreement

            

    

     

    Subsection
      (c) of Section 6.14 of the Credit Agreement entitled “Investments and
      Acquisitions” is hereby amended in its entirety to read as follows:

     

    “(c)(i)
      Publicly traded securities and (ii) direct or indirect proprietary private
      Investments (including venture capital, merchant banking and leveraged aircraft
      lease Investments) not exceeding $100,000,000 in aggregate amount at any time
      invested or outstanding;”

     

    
      	III.  	
              Waiver

            

    

     

    Because
      Raymond James Tax Credit Funds, Inc. (“RJTCF”) expects to fund and carry an
      unusually large volume of projects during the six-month period from April 1,
      2007 to September 30, 2007 pending final approval and equity take-out by one
      of
      its major clients, the Borrower has requested that the permitted dollar limit
      for guarantees or loans by the Borrower with respect to the activities of RJTCF
      or any of its Subsidiaries during this period be increased from $100,000,000
      to
      $125,000,000 for purposes of Sections 6.11(j) and 6.15(d) of the Credit
      Agreement. The Lenders hereby consent to such request and agree to waive any
      Default or Unmatured Default during the period from April 1, 2007 through the
      Facility Termination Date by virtue of such guarantees or loans by the Borrower
      to RJTCF or its Subsidiaries exceeding $100,000,000, so long as such guarantees
      or loans do not exceed $125,000,000 in aggregate amount outstanding during
      such
      period. This waiver is limited to its terms and shall not constitute a waiver
      of
      any other term, condition, representation or covenant under the Credit Agreement
      or any other Loan Document.

     

    
      	IV.  	
              Borrower
                Representations

            

    

     

    In
      order
      to induce the Lenders and the Agent to execute and deliver this Amendment No.
      2,
      the Borrower represents and warrants to the Lenders that, both before and after
      giving effect to this Amendment No. 2, (i) there exists no Default or Unmatured
      Default on the date hereof; (ii) each of the representations and warranties
      contained in Article V of the Credit Agreement is true and correct on the date
      hereof; (iii) the execution and delivery by the Borrower of this Amendment
      No. 2
      have been duly authorized by all requisite corporate proceedings; (iv) this
      Amendment No. 2 and the other Loan Documents to which the Borrower is a party
      constitute the legal, valid and binding obligations of the Borrower enforceable
      in accordance with their respective terms; (v) no authorization or approval
      of,
      and no notice to or filing with, any Governmental Authority or other Person
      is
      required for the due execution, delivery or performance of this Amendment No.
      2
      by the Borrower; and (vi) no material adverse change in the business, Property,
      condition (financial or otherwise) or results of operations of the Borrower
      and
      its Subsidiaries taken as a whole has occurred since September 30,
      2006.

     

    
      	V.  	
              Effectiveness

            

    

     

    This
      Amendment No. 2 shall become effective as of the date first above written upon
      fulfillment of the following conditions (and when notice thereof shall have
      been
      given by the Agent to the Borrower and the Lenders):

    (i)  the
      Agent
      shall have received counterparts of this Amendment No. 2 duly executed by the
      Borrower and the Lenders; and

     

    (ii)  all
      accrued fees and expenses of the Agent (including the accrued fees and expenses
      of counsel to the Agent invoiced on or prior to the date hereof) shall have
      been
      paid by the Borrower.

     

    
      	VI.  	
              Ratification

            

    

     

    Except
      as
      specifically provided herein, (a) the Credit Agreement shall otherwise remain
      unaltered and in full force and effect, and the respective terms, conditions
      and
      covenants thereof are hereby ratified and confirmed in all respects as
      originally executed, and (b) except for the limited waiver set forth in Article
      III above, this Amendment No. 2 shall not operate as a waiver of any right,
      power or remedy of any Lender or the Agent under any of the Loan Documents.
      Upon
      the effectiveness of this Amendment No. 2, each reference in the Credit
      Agreement to “this Agreement”, “hereof”, “herein”, “hereunder” or words of like
      import shall mean and be a reference to the Credit Agreement as amended
      hereby.

     

    
      	VII.  	
              Governing
                Law

            

    

     

    THIS
      AMENDMENT NO. 2 SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE
      INTERNAL LAWS OF THE STATE OF NEW YORK, BUT GIVING EFFECT TO FEDERAL LAWS
      APPLICABLE TO NATIONAL BANKS.

     

    
      	VIII.  	
              Execution
                in Counterparts

            

    

     

    This
      Amendment No. 2 may be executed in any number of counterparts, each of which
      when so executed and delivered shall be deemed to be an original and all of
      which taken together shall constitute one and the same agreement.

    [signature
      pages follow]

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    IN
      WITNESS WHEREOF, the Borrower, the Lenders and the Agents have executed this
      Amendment No. 2 as of the date first above written.

     

     

                                      RAYMOND
      JAMES FINANCIAL, INC.

                                                                                                             
      

                                                                                                             
      By:  /s/
      Jeffrey P. Julien       

                                                                                                             
      Title:  SVP
      &
CFO                                          

     

    Address
      for Notices:

    880
      Carillon Parkway

    St.
      Petersburg, Florida 33716

    Attention: Jeffrey
      P. Julien

    Telephone: (727)
      567-5021

    Facsimile: (727)
      573-8915

     

    

     

    Commitment:            JPMORGAN
      CHASE BANK, N.A.,

    $40,000,000                   Individually
      and as Administrative Agent

     

                          By: 
      /s/
      Thomas I. Poz         

                                                                                                             
      Title:  Vice
      President                                       

     

    Address
      for General Notices:

    Financial
      Institutions-Broker-Dealer Group

    270
      Park
      Avenue

    22nd
      Floor

    New
      York,
      NY 10172

    Attention: Thomas
      I.
      Poz 

    Telephone: (212)
      270-1236

    Facsimile: (212)
      270-1511

    

    Address
      for Funding Matters:

    Loan
      and
      Agency Services

    1111
      Fannin, 10th
      Floor

    Houston,
      TX 77002

    Attention: Wesley
      Gibson

    Telephone: (713)
      750-2424

    Facsimile: (713)
      750-2228

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    Commitment:      
CITIBANK,
      N.A.,

    $40,000,000                                                                                    
      Individually
      and as Syndication Agent

    

                                                                                                           
      By:  /s/
      Michael
      Mauerstein                    

                                                                                                           
      

                                                                                                           
      Title:  Managing
      Director                           

     

    Address
      for Notices:

    388
      Greenwich Street

    8th
      Floor

    New
      York,
      New York 10013

    Attention: Michael
      Mauerstein

    Telephone: (212)
      816-3431

    Facsimile: (212)
      816-5325

    

    

    

    

    Commitment:                                                                              
      THE
      BANK
      OF NEW YORK,

    $40,000,000                                                                                 
      Individually
      and as Co-Documentation Agent

    

     

    By:/s/
      Andrew
      Demko                                 
    

     

    Title: Managing
      Director                                 

     

    Address
      for Notices:

    One
      Wall
      Street

    41st
      Floor

    New
      York,
      New York 10286

    Attention: John
      Templeton

    Telephone: (212)
      635-6823

    Facsimile: (212)
      809-9566

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    Commitment:                                                                        
       WELLS
      FARGO BANK, NATIONAL 

    $40,000,000                                                                       
           ASSOCIATION,

                                                                                                    
      Individually
      and as Co-Documentation Agent

    

    

    By: 
      /s/
      Robert
      P.Filkowski                      

     

    Title:
       Vice
      President                                   

     

    Address
      for Notices:

    Wells
      Fargo Center

    Sixth
      and
      Marquette

    Minneapolis,
      MN 55479

    Attention:
      Financial Institutions Division

    Telephone: (612)
      667-9293

    Facsimile: (612)
      667-7251 

    

    

    Commitment:                                                                   
      CALYON
      NEW YORK BRANCH,

    $40,000,000                                                                      
      Individually
      and as Co-Documentation Agent

    

    

    By: 
      /s/
      Sebastian
      Rocco                
    

     

    Title:
       Managing
      Director               
   

     

    

     

    By:/s/
      Walter Jay
      Buckley               
   

     

    Title:
       Managing
      Director                    

     

    Address
      for Notices:

    1301
      Avenue of the Americas

    New
      York,
      NY 10019

    Attention: Seth
      Ruffer 

    Telephone: (212)
      261-7410

    Facsimile: (212)
      261-3401

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00123-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00123-of-00352.parquet"}]]