Document:

EXHIBIT 10.5 

CERTAIN INFORMATION
INDICATED BY [ * * * ] HAS BEEN DELETED FROM THIS EXHIBIT AND FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO A REQUEST FOR
CONFIDENTIAL TREATMENT UNDER RULE 24b-2. 

FIRST AMENDMENT OF THE LICENSE AGREEMENT

          This
First Amendment of the License Agreement (the “First Amendment”) is dated as of
June 28, 2013 (the “First Amendment Date”), by and among Medtronic, Inc., a
Minnesota corporation (“Medtronic”), Medtronic VidaMed, Inc., a Delaware corporation
and wholly-owned subsidiary of Medtronic (“VidaMed”), and Urologix, Inc., a
Minnesota corporation (“Urologix”), and amends the License Agreement dated as
of September 6, 2011, by and among Medtronic, VidaMed and Urologix (as amended,
the “License Agreement”). Capitalized terms not defined in this First Amendment
have the meaning given to such terms in the License Agreement. 

RECITALS

	
  

 	
  

 
	
 A.

 	
 On September
 6, 2011, Medtronic, VidaMed and Urologix entered into a series of
 transactions, including granting to Urologix an exclusive license under
 Medtronic’s and VidaMed’s intellectual property relating to the Prostiva RF
 Therapy System pursuant to the License Agreement.

 
	
  

 	
  

 
	
 B.

 	
 The Parties
 now desire to amend the License Agreement as set forth below. 

 

TERMS OF AGREEMENT

          In
consideration of the promises, covenants and other valuable consideration, the
sufficiency of which is hereby acknowledged, Medtronic, VidaMed and Urologix
agree as follows: 

1. Earned
Royalties. The first sentence contained in Section 3.2 of the License
Agreement shall be amended and restated as follows: 

	
  

 	
  

 
	
  

 	
           “Except
 as provided in Section 3.3.2 or Section 3.8, Urologix shall pay Medtronic
 earned royalties (“Earned Royalties”) equal to [* * *] percent ([* *
 *]%) of Net Sales during the first Contract Year, and [* * *] percent ([* *
 *]%) of Net Sales during each Contract Year of the Term thereafter.” 

 

2. Minimum
Royalties. The first sentence contained in Section 3.3.1 of the License
Agreement shall be amended to replace the reference to “commencing in the third
Contract Year” contained therein with a reference to “commencing in the second
Contract Year.” 

3. Counterparts. This First Amendment may be executed in
counterparts, any of which may be executed and delivered via facsimile or other
electronic delivery, each of which shall be deemed an original, and all of
which, taken together, shall constitute one and the same instrument 

4. License
Agreement. Except to the extent provided above, the remaining terms and
conditions of the License Agreement remain in full force and effect. 

 [The remainder of this page is intentionally
left blank.]

          The
duly authorized representatives of the parties have signed this First Amendment
as of the First Amendment Date. 

	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 
	
 MEDTRONIC,
 INC.

 	
  

 	
 UROLOGIX,
 INC.

 
	
  

 	
  

 	
  

 	
  

 	
  

 
	
 By:

 	
   /s/ Thomas
 M. Tefft

 	
  

 	
 By:

 	
   /s/ Greg
 Fluet

 
	
 Name:

 	
 Thomas M.
 Tefft

 	
  

 	
 Name:

 	
 Greg Fluet

 
	
 Title:

 	
 Senior Vice
 President & President,

 	
  

 	
 Title:

 	
 Chief
 Executive Officer

 
	
  

 	
 Neuromodulation

 	
  

 	
  

 	
  

 

	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 
	
 MEDTRONIC
 VIDAMED, INC.

 	
  

 	
  

 
	
  

 	
  

 	
  

 	
  

 
	
 By:

 	
   /s/ Thomas
 M. Tefft

 	
  

 	
  

 
	
 Name:

 	
 Thomas M.
 Tefft

 	
  

 	
  

 
	
 Title:

 	
 President

 	
  

 	
  

 

[Signature page to First Amendment of the License Agreement.]Exhibit 10.1

 

 

THIRD AMENDMENT TO CREDIT AGREEMENT

 

 

THIS AMENDMENT TO CREDIT AGREEMENT (this "Amendment")
is entered into as of June 28, 2013, by and between FLEXSTEEL INDUSTRIES, INC., a Minnesota Corporation ("Borrower"),
and WELLS FARGO BANK, NATIONAL ASSOCIATION ("Bank").

 

RECITALS

 

WHEREAS, Borrower is currently indebted to Bank pursuant
to the terms and conditions of that certain Credit Agreement between Borrower and Bank dated as of April 14, 2010, as amended from
time to time ("Credit Agreement").

 

WHEREAS, Bank and Borrower have agreed to certain changes
in the terms and conditions set forth in the Credit Agreement and have agreed to amend the Credit Agreement to reflect said changes.

 

NOW, THEREFORE, for valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto agree that the Credit Agreement shall be amended as follows:

 

1.         Section 1.1. (a)  is hereby amended
(a) by deleting "June 30, 2013" as the last day on which Bank will make advances under the Line of Credit, and by substituting
for said date "June 30, 2014," and (b) by deleting "Fifteen Million Dollars ($15,000,000.00)" as the maximum
principal amount available under the Line of Credit, and by substituting for said amount "Ten Million Dollars ($10,000,000.00),"
with such changes to be effective upon the execution and delivery to Bank of a promissory note dated as of June 28, 2013 (which
promissory note shall replace and be deemed the Line of Credit Note defined in and made pursuant to the Credit Agreement) and all
other contracts, instruments and documents required by Bank to evidence such change.

 

2.         Section 1.1. (b)  is hereby deleted
in its entirety, and the following substituted therefor:

 

"(b)      Letter
of Credit Subfeature.  As a subfeature under the Line of Credit, Bank agrees from time to time during the term thereof
to issue or cause an affiliate to issue standby letters of credit for the account of Borrower (each, a "Letter of Credit"
and collectively, "Letters of Credit"); provided however, that the aggregate undrawn amount of all outstanding Letters
of Credit shall not at any time exceed Four Million Dollars ($4,000,000.00). The form and substance of each Letter of Credit shall
be subject to approval by Bank, in its sole discretion. No Letter of Credit shall have an expiration date more than 365 days beyond
the maturity date of the Line of Credit. The undrawn amount of all Letters of Credit shall be reserved under the Line of Credit
and shall not be available for borrowings thereunder. Each Letter of Credit shall be subject to the additional terms and conditions
of the Letter of Credit agreements, applications and any related documents required by Bank in connection with the issuance thereof.
Each drawing paid under a Letter of Credit shall be

 

 

    	-1-

    	 

    

deemed an advance under the Line of Credit and shall be repaid by Borrower
in accordance with the terms and conditions of this Agreement applicable to such advances; provided however, that if advances under
the Line of Credit are not available, for any reason, at the time any drawing is paid, then Borrower shall immediately pay to Bank
the full amount drawn, together with interest thereon from the date such drawing is paid to the date such amount is fully repaid
by Borrower, at the rate of interest applicable to advances under the Line of Credit. In such event Borrower agrees that Bank,
in its sole discretion, may debit any account maintained by Borrower with Bank for the amount of any such drawing.”

 

3.         Except as specifically provided herein, all terms and
conditions of the Credit Agreement remain in full force and effect, without waiver or modification. All terms defined in the Credit
Agreement shall have the same meaning when used in this Amendment. This Amendment and the Credit Agreement shall be read together,
as one document.

 

4.         Borrower hereby remakes all representations and warranties
contained in the Credit Agreement and reaffirms all covenants set forth therein. Borrower further certifies that as of the date
of this Amendment there exists no Event of Default as defined in the Credit Agreement, nor any condition, act or event which with
the giving of notice or the passage of time or both would constitute any such Event of Default.

 

5.         Borrower acknowledges receipt of a copy of this Amendment
signed by the parties hereto.

 

IMPORTANT:  READ BEFORE SIGNING. THE TERMS OF THIS AGREEMENT SHOULD BE READ
CAREFULLY BECAUSE ONLY THOSE TERMS IN WRITING ARE ENFORCEABLE. NO OTHER TERMS OR ORAL PROMISES NOT CONTAINED IN THIS WRITTEN CONTRACT
MAY BE LEGALLY ENFORCED. YOU MAY CHANGE THE TERMS OF THIS AGREEMENT ONLY BY ANOTHER WRITTEN AGREEMENT. THIS NOTICE ALSO APPLIES
TO ANY OTHER CREDIT AGREEMENTS NOW IN EFFECT BETWEEN YOU AND THIS LENDER.

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment
to be executed as of the day and year first written above.

 

 

 

	 	 	 	WELLS FARGO BANK,
	FLEXSTEEL INDUSTRIES, INC.	 	   NATIONAL ASSOCIATION
	 	 	 	 	 
	By:	/s/ Timothy E. Hall	 	By:	/s/ James Hilgenberg
	 	Timothy E. Hall,	 	 	James Hilgenberg, Vice President
	 	Sr. VP Finance, CFO, Secretary, Treasurer	 	 	 

 

 

    	-2-Exhibit 10.2

 

REVOLVING LINE OF CREDIT NOTE

 

 

	$10,000,000.00	Davenport, Iowa
	 	June 28, 2013

 

FOR VALUE RECEIVED, the undersigned FLEXSTEEL INDUSTRIES,
INC. ("Borrower") promises to pay to the order of WELLS FARGO BANK, NATIONAL ASSOCIATION ("Bank") at its office
at 666 Walnut Street, 2nd Floor, Des Moines, Iowa, or at such other place as the holder hereof may designate, in lawful
money of the United States of America and in immediately available funds, the principal sum of Ten Million Dollars ($10,000,000.00),
or so much thereof as may be advanced and be outstanding, with interest thereon, to be computed on each advance from the date of
its disbursement as set forth herein.

 

DEFINITIONS:

 

As used herein, the following terms shall have the meanings
set forth after each, and any other term defined in this Note shall have the meaning set forth at the place defined:

 

(a)         "Business
Day" means any day except a Saturday, Sunday or any other day on which commercial banks in Iowa are authorized or required
by law to close.

 

(b)         "Daily
One Month LIBOR" means, for any day, the rate of interest equal to LIBOR then in effect for delivery for a one (1) month period.

 

(c)         "LIBOR"
means the rate per annum (rounded upward, if necessary, to the nearest whole 1/8 of 1%) and determined pursuant to the following
formula:

 

	LIBOR =	Base LIBOR	 
	 	100% - LIBOR Reserve Percentage	 

 

(i)          "Base
LIBOR" means the rate per annum for United States dollar deposits quoted by Bank as the Inter-Bank Market Offered Rate, with
the understanding that such rate is quoted by Bank for the purpose of calculating effective rates of interest for loans making
reference thereto, for delivery of funds for one (1) month in an amount equal to the outstanding principal balance of this Note.
Borrower understands and agrees that Bank may base its quotation of the Inter-Bank Market Offered Rate upon such offers or other
market indicators of the Inter-Bank Market as Bank in its discretion deems appropriate including, but not limited to, the rate
offered for U.S. dollar deposits on the London Inter-Bank Market.

 

(ii)         "LIBOR
Reserve Percentage" means the reserve percentage prescribed by the Board of Governors of the Federal Reserve System (or any
successor) for "Eurocurrency Liabilities" (as defined in Regulation D of the Federal Reserve Board, as amended), adjusted
by Bank for expected changes in such reserve percentage during the term of this Note.

 

INTEREST:

 

(a)         Interest.  The
outstanding principal balance of this Note shall bear interest (computed on the basis of a 360-day year, actual days elapsed) at
a fluctuating rate per annum determined by Bank to be one percent (1.00%) above Daily One Month LIBOR in effect from time to time.
Each change in the rate of interest hereunder shall become effective on each

 

    	-1-

    	 

    

Business Day a change in Daily One Month LIBOR is announced within Bank. Bank
is hereby authorized to note the date and interest rate applicable to this Note and any payments made thereon on Bank's books and
records (either manually or by electronic entry) and/or on any schedule attached to this Note, which notations shall be prima facie
evidence of the accuracy of the information noted.

 

(b)         Taxes
and Regulatory Costs.  Borrower shall pay to Bank immediately upon demand, in addition to any other amounts due or
to become due hereunder, any and all (i) withholdings, interest equalization taxes, stamp taxes or other taxes (except income and
franchise taxes) imposed by any domestic or foreign governmental authority and related in any manner to LIBOR, and (ii) future,
supplemental, emergency or other changes in the LIBOR Reserve Percentage, assessment rates imposed by the Federal Deposit Insurance
Corporation, or similar requirements or costs imposed by any domestic or foreign governmental authority or resulting from compliance
by Bank with any request or directive (whether or not having the force of law) from any central bank or other governmental authority
and related in any manner to LIBOR to the extent they are not included in the calculation of LIBOR. In determining which of the
foregoing are attributable to any LIBOR option available to Borrower hereunder, any reasonable allocation made by Bank among its
operations shall be conclusive and binding upon Borrower.

 

(c)         Payment
of Interest.  Interest accrued on this Note shall be payable on the last day of each month, commencing July 31, 2013.

 

(d)         Default
Interest.  From and after the maturity date of this Note, or such earlier date as all principal owing hereunder becomes
due and payable by acceleration or otherwise, or at Bank's option upon the occurrence, and during the continuance of an Event of
Default, the outstanding principal balance of this Note shall bear interest at an increased rate per annum (computed on the basis
of a 360-day year, actual days elapsed) equal to four percent (4%) above the rate of interest from time to time applicable to this
Note.

 

BORROWING AND REPAYMENT:

 

(a)         Borrowing
and Repayment.  Borrower may from time to time during the term of this Note borrow, partially or wholly repay its
outstanding borrowings, and reborrow, subject to all of the limitations, terms and conditions of this Note and of any document
executed in connection with or governing this Note; provided however, that the total outstanding borrowings under this Note shall
not at any time exceed the principal amount stated above. The unpaid principal balance of this obligation at any time shall be
the total amounts advanced hereunder by the holder hereof less the amount of principal payments made hereon by or for Borrower,
which balance may be endorsed hereon from time to time by the holder. The outstanding principal balance of this Note shall be due
and payable in full on June 30, 2014.

 

(b)         Advances.  Advances
hereunder, to the total amount of the principal sum stated above, may be made by the holder at the oral or written request of (i)
Timothy E. Hall, Dawn Rinehart, Rita K. Kelly or Carl J. Breen, any one acting alone, who are authorized to request advances and
direct the disposition of any advances until written notice of the revocation of such authority is received by the holder at the
office designated above, or (ii) any person, with respect to advances deposited to the credit of any deposit account of Borrower,
which advances, when so deposited, shall be conclusively presumed to have been made to or for the benefit of Borrower regardless
of the fact that persons other than those authorized to request advances may have authority to draw against such account. The holder
shall have no

 

    	-2-

    	 

    

 

obligation to determine whether any person requesting an advance is or has been
authorized by Borrower.

 

(c)         Application
of Payments.  Each payment made on this Note shall be credited first, to any interest then due and second, to the
outstanding principal balance hereof.

 

EVENTS OF DEFAULT:

 

This Note is made pursuant to and is subject to the terms
and conditions of that certain Credit Agreement between Borrower and Bank dated as of April 14, 2010, as amended from time to time
(the "Credit Agreement"). Any default in the payment or performance of any obligation under this Note, or any defined
event of default under the Credit Agreement, shall constitute an "Event of Default" under this Note.

 

MISCELLANEOUS:

 

(a)         Remedies.  Upon
the occurrence of any Event of Default, the holder of this Note, at the holder's option, may declare all sums of principal and
interest outstanding hereunder to be immediately due and payable without presentment, demand, notice of nonperformance, notice
of protest, protest or notice of dishonor, all of which are expressly waived by Borrower, and the obligation, if any, of the holder
to extend any further credit hereunder shall immediately cease and terminate. Borrower shall pay to the holder immediately upon
demand the full amount of all payments, advances, charges, costs and expenses, including reasonable attorneys' fees (to include
outside counsel fees and all allocated costs of the holder's in-house counsel), expended or incurred by the holder in connection
with the enforcement of the holder's rights and/or the collection of any amounts which become due to the holder under this Note,
and the prosecution or defense of any action in any way related to this Note, including without limitation, any action for declaratory
relief, whether incurred at the trial or appellate level, in an arbitration proceeding or otherwise, and including any of the foregoing
incurred in connection with any bankruptcy proceeding (including without limitation, any adversary proceeding, contested matter
or motion brought by Bank or any other person) relating to Borrower or any other person or entity.

 

(b)         Obligations
Joint and Several.  Should more than one person or entity sign this Note as a Borrower, the obligations of each such
Borrower shall be joint and several.

 

(c)         Governing
Law.  This Note shall be governed by and construed in accordance with the laws of the State of Iowa.

 

(d)         Acknowledgment.  Borrower
acknowledges receipt of a copy of this Note signed by Borrower.

 

IMPORTANT:  READ BEFORE SIGNING. THE TERMS OF THIS AGREEMENT SHOULD
BE READ CAREFULLY BECAUSE ONLY THOSE TERMS IN WRITING ARE ENFORCEABLE. NO OTHER TERMS OR ORAL PROMISES NOT CONTAINED IN THIS WRITTEN
CONTRACT MAY BE LEGALLY ENFORCED. YOU MAY CHANGE THE TERMS OF THIS AGREEMENT ONLY BY ANOTHER WRITTEN AGREEMENT. THIS NOTICE ALSO
APPLIES TO ANY OTHER CREDIT AGREEMENTS NOW IN EFFECT BETWEEN YOU AND THIS LENDER.

 

    	-3-

    	 

    

 

IN WITNESS WHEREOF, the undersigned has executed this Note
as of the date first written above.

 

	 	 
	FLEXSTEEL INDUSTRIES, INC.
	 	 
	By:	/s/ Timothy E. Hall 
	 	Timothy E. Hall,
	 	Sr. VP Finance, CFO, Secretary, Treasurer

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    	-4-

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