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  Exhibit 10.59    
    

 
    FIRST AMENDMENT TO LOAN AGREEMENT    
    

        This First Amendment to Loan Agreement ("First Amendment") is executed effective this
9th day of January 2008 among Force Protection, Inc., Force Protection Industries, Inc., and Force
Protection Technologies, Inc. (collectively, the "Borrower") and Wachovia
Bank, National Association ("Bank") and amends that Loan Agreement among
Borrower and Bank dated July 20, 2007 (the "Loan Agreement"). 

Factual Background  

        Bank currently has a $50,000,000 revolving line of credit loan (the "Loan") outstanding to Borrower pursuant to the Loan Agreement.
Borrower has requested and Bank has agreed to amend certain financial covenants and affirmative covenants contained in the Loan Agreement provided the Borrower continues to comply with the terms and
conditions set forth in the Loan Agreement, as modified hereby. 

        NOW
THEREFORE, in consideration of the mutual promises contained herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged and
intending to be legally bound, the parties hereto agree as follows: 

        1.     Any
capitalized terms used but not otherwise defined herein shall have the meaning set forth in the Loan Agreement. 

        2.     The
Financial Covenants paragraph is amended by deleting the Deposit Relationship requirement and replacing it with the following: 

        "Deposit Relationship.    Borrower shall maintain a non-interest bearing demand deposit account with a minimum daily
balance of at least $15,000,000.00 and all of its other depository and treasury services with Bank." 

        3.     The
Affirmative Covenants paragraph is amended by adding the following requirement: 

        "Loan Commitment.    Borrower shall provide satisfactory evidence to Bank, by February 15, 2008, of Borrower's asset
based lending commitment from a financial institution, which may include Bank." 

        4.     From
the effective date hereof, any reference to the "Loan Agreement" in any Loan Document shall mean the Loan Agreement as amended by this First Amendment. 

        5.     Prior
to or at Closing of the First Amendment, Borrower shall meet the pre-closing requirements set forth in this Paragraph 5. and Bank shall not be
required to make any further advances on the Loan until such pre-closing requirements are met.  

	a.
	Borrower
will provide Bank with resolutions authorizing the transactions contemplated herein and designating an officer to sign the Loan Documents on its
behalf.

	b.
	Borrower
will provide Bank with a Secretary's Certificate certifying that there have been no changes in its Articles of Incorporation or Bylaws since
September 30, 2007.

	c.
	Borrower
shall provide Bank with such other documents, instruments or agreements as Bank shall deem necessary for increasing the Loan in its reasonable
discretion. 

        6.     Each
Borrower hereby represents and warrants that at the time of the execution and delivery of this First Amendment it is in compliance with all of its covenants set
forth in the Loan 

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Agreement
and any other Loan Documents, and that the representations and warranties set forth therein pertaining to it continue to be true and accurate. 

        7.     Each
Borrower agrees to hold Bank harmless and indemnify Bank and its successors and assigns from any and all claims or causes of action arising in connection with this
First Amendment or otherwise related to the Loan. 

        8.     Borrower
agrees to pay at closing all costs and expenses arising from this First Amendment, including, without limitation, all Bank fees and expenses, including a
$125,000 Bank fee, and fees and expenses of Bank's legal counsel. 

        9.     Borrower
agrees to execute and deliver to Bank, promptly upon request from Bank, such other and further documents as may be reasonably necessary or appropriate to
consummate the transactions contemplated herein. 

        10.   This
First Amendment may be executed in two (2) or more counterparts, each of which shall be deemed to be an original, but all of which shall constitute one and
the same instrument. 

        11.   This
First Amendment is not a novation and, except as otherwise modified hereby, the terms and provisions of the Loan Agreement and all Loan Documents shall remain in
full force and effect. 

        12.   This
First Amendment shall be governed by South Carolina law. Provided however, to the extent that the creation, validity, perfection, enforceability or priority of any
lien or security interest, or the rights and remedies with respect to any lien or security interest, in the Collateral (defined in the Loan Agreement) are governed by the laws of a jurisdiction other
than the State of South Carolina, then the laws of such jurisdiction shall govern, except as superseded by applicable United States Federal Law. 

        13.   This
First Amendment reflects the complete agreement of the parties hereto as to the matters set forth herein and supersedes all prior negotiations and oral
understandings and is hereby incorporated into the Loan Agreement as if set forth herein. 

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        IN
WITNESS WHEREOF, the parties have executed this Agreement under seal to be effective as of the date first written above. 

							
	 	 	BORROWER:	 	 
	

 	
 	

Force Protection, Inc.	
 	

 
	

 	
 	

By:	
 	

/s/ MICHAEL MOODY

Michael Moody, President	
 	

(SEAL)
	

 	
 	

Force Protection Technologies, Inc.	
 	

 
	

 	
 	

By:	
 	

/s/ MICHAEL MOODY

Michael Moody, President	
 	

(SEAL)
	

 	
 	

Force Protection Technologies, Inc.	
 	

 
	

 	
 	

By:	
 	

/s/ MICHAEL MOODY

Michael Moody, President	
 	

(SEAL)
	

 	
 	

BANK:	
 	

 
	

 	
 	

Wachovia Bank, National Association	
 	

 
	

 	
 	

By:	
 	

/s/ GUY M. MEARES, III

Guy M. Meares, III, Senior Vice President	
 	

(SEAL)

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Exhibit 10.59

FIRST AMENDMENT TO LOAN AGREEMENTQuickLinks
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  Exhibit 10.60    
    

 MODIFICATION NUMBER THREE

TO PROMISSORY NOTE  

Force
Protection, Inc.

9801 Highway 78

Ladsdon, South Carolina 29456 

Force
Protection Technologies, Inc.

9801 Highway 78

Ladson, South Carolina 29456 

Force
Protection Industries, Inc.

9801 Highway 78

Ladson, South Carolina 29456

(Individually and collectively, "Borrower") 

Wachovia
Bank, National Association

177 Meeting Street, Suite 450

Charleston, South Carolina 29401

(Hereinafter referred to as "Bank") 

        THIS
AGREEMENT is entered into effective as of February 15, 2008 by and between Bank and Borrower. 

 RECITALS  

        Bank is the holder of a Promissory Note executed and delivered by Borrower dated July 20, 2007, as modified on
September 30, 2007 and on January 9, 2008, in the original principal amount of $50,000,000.00 (the "Note"); 

        Borrower
and Bank have agreed to modify the terms of the Note. 

        In
consideration of Bank's continued extension of credit and the agreements contained herein, the parties agree as follows: 

 AGREEMENT  

        
ACKNOWLEDGMENT OF BALANCE.    Borrower acknowledges that the most recent Commercial Loan Invoice sent to Borrower with respect to the Obligations under the Note is
correct. 

         
MODIFICATIONS.    The Note is hereby modified by deleting the provisions in the Note establishing the repayment terms and substituting the following in their place
and stead: 

        
REPAYMENT TERMS.    The Note shall be due and payable in consecutive monthly payments of accrued interest only, commencing on March 9, 2008, and continuing on
the same day of each month thereafter until fully paid. In any event, all principal and accrued interest shall be due and payable on May 9, 2008. 

         
ACKNOWLEDGMENTS AND REPRESENTATIONS.    Borrower acknowledges and represents that the Note and other Loan Documents, as amended hereby, are in full force and effect
without any defense, counterclaim, right or claim of set-off; that, after giving effect to this Agreement, no default or event that with the passage of time or giving of notice would
constitute a default under the Loan Documents has occurred, all representations and warranties contained in the Loan Documents are true and correct as of this date, all necessary action to authorize
the execution and delivery of this Agreement has been taken; and this Agreement is a modification of an existing obligation and is not a novation. 

 

         
COLLATERAL.    Borrower acknowledges and confirms that there have been no changes in the ownership of any collateral pledged to secure the Obligations (the
"Collateral") since the Collateral was originally pledged; Borrower acknowledges and confirms that the Bank has existing, valid first priority security interests and liens in the Collateral; and that
such security interests and liens shall secure Borrower's Obligations, including any modification of the Note or Loan Agreement, if any, and all future modifications, extensions, renewals and/or
replacements of the Loan Documents. 

         
MISCELLANEOUS.    This Agreement shall be construed in accordance with and governed by the laws of the applicable state as originally provided in the Loan Documents,
without reference to that state's conflicts of law principles. This Agreement and the other Loan Documents constitute the sole agreement of the parties with respect to the subject matter thereof and
supersede all oral negotiations and prior writings with respect to the subject matter thereof. No amendment of this Agreement, and no waiver of any one or more of the provisions hereof shall be
effective unless set forth in writing and signed by the parties hereto. The illegality, unenforceability or inconsistency of any provision of this
Agreement shall not in any way affect or impair the legality, enforceability or consistency of the remaining provisions of this Agreement or the other Loan Documents. This Agreement and the other Loan
Documents are intended to be consistent. However, in the event of any inconsistencies among this Agreement and any of the Loan Documents, the terms of this Agreement, and then the Note, shall control.
This Agreement may be executed in any number of counterparts and by the different parties on separate counterparts. Each such counterpart shall be deemed an original, but all such counterparts shall
together constitute one and the same agreement. Terms used in this Agreement which are capitalized and not otherwise defined herein shall have the meanings ascribed to such terms in the Note.  LIMITATION ON LIABILITY; WAIVER OF
PUNITIVE DAMAGES. EACH OF THE PARTIES HERETO, INCLUDING BANK BY ACCEPTANCE HEREOF, AGREES THAT IN ANY JUDICIAL,
MEDIATION OR ARBITRATION PROCEEDING OR ANY CLAIM OR CONTROVERSY BETWEEN OR AMONG THEM THAT MAY ARISE OUT OF OR BE IN ANY WAY CONNECTED WITH THIS AGREEMENT, THE LOAN DOCUMENTS OR ANY OTHER AGREEMENT OR
DOCUMENT BETWEEN OR AMONG THEM OR THE OBLIGATIONS EVIDENCED HEREBY OR RELATED HERETO, IN NO EVENT SHALL ANY PARTY HAVE A REMEDY OF, OR BE LIABLE TO THE OTHER FOR, (1) INDIRECT, SPECIAL OR
CONSEQUENTIAL DAMAGES OR (2) PUNITIVE OR EXEMPLARY DAMAGES. EACH OF THE PARTIES HEREBY EXPRESSLY WAIVES ANY RIGHT OR CLAIM TO PUNITIVE OR EXEMPLARY DAMAGES THEY MAY HAVE OR WHICH MAY ARISE IN
THE FUTURE IN CONNECTION WITH ANY SUCH PROCEEDING, CLAIM OR CONTROVERSY, WHETHER THE SAME IS RESOLVED BY ARBITRATION, MEDIATION, JUDICIALLY OR OTHERWISE. Final
Agreement. This Agreement and the other Loan Documents represent the final agreement between the parties and may not be contradicted by evidence of prior, contemporaneous or
subsequent agreements of the parties. There are no unwritten agreements between the parties. 

         
WAIVER OF JURY TRIAL.    TO THE EXTENT PERMITTED BY APPLICABLE LAW, EACH OF BORROWER BY EXECUTION HEREOF AND BANK BY ACCEPTANCE HEREOF, KNOWINGLY, VOLUNTARILY AND
INTENTIONALLY WAIVES ANY RIGHT EACH MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION BASED ON, OR ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT, THE LOAN DOCUMENTS OR ANY
AGREEMENT CONTEMPLATED TO BE EXECUTED IN CONNECTION WITH THIS AGREEMENT, OR ANY COURSE OF CONDUCT, COURSE OF DEALING, STATEMENTS (WHETHER VERBAL OR WRITTEN) OR ACTIONS OF ANY PARTY WITH RESPECT
HERETO. THIS PROVISION IS A MATERIAL INDUCEMENT TO BANK TO ACCEPT THIS AGREEMENT. EACH OF THE PARTIES AGREES THAT THE TERMS HEREOF SHALL SUPERSEDE AND REPLACE ANY PRIOR AGREEMENT RELATED TO
ARBITRATION OF DISPUTES BETWEEN THE PARTIES CONTAINED IN ANY LOAN DOCUMENT OR ANY OTHER DOCUMENT OR AGREEMENT HERETOFORE EXECUTED IN CONNECTION 

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WITH,
RELATED TO OR BEING REPLACED, SUPPLEMENTED, EXTENDED OR MODIFIED BY, THIS AGREEMENT. 

        IN WITNESS WHEREOF, the undersigned have duly signed and sealed this Agreement the day and year first above written. 

							
	 	 	Force Protection, Inc.	 	 
	

 	
 	

By:	
 	

/s/ MICHAEL DURSKI

Michael Durski, CFO	
 	

(SEAL)
	

 	
 	

Force Protection Technologies, Inc.
	

 	
 	

By:	
 	

/s/ MICHAEL DURSKI

Michael Durski, CFO	
 	

(SEAL)
	

 	
 	

Force Protection Industries, Inc.
	

 	
 	

By:	
 	

/s/ MICHAEL DURSKI

Michael Durski, CFO	
 	

(SEAL)
	

 	
 	

Wachovia Bank, National Association
	

 	
 	

By:	
 	

/s/ GUY M. MEARES, III

Guy M. Meares, III, Senior Vice President	
 	

(SEAL)

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QuickLinks

Exhibit 10.60

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