Document:

Exhibit
10.18.1

 

FIRST AMENDMENT TO LOAN AND SECURITY
AGREEMENT, PROMISSORY NOTE SECURED BY DEED OF TRUST (MORTGAGE LOAN), AND
PROMISSORY NOTE SECURED BY DEED OF TRUST (TERM LOAN)

 

This First Amendment to Loan and Security Agreement, Promissory Note
Secured By Deed of Trust (Mortgage Loan), and Promissory Note Secured By Deed
of Trust (Term Loan)(“Amendment”), dated as of October 31, 2008, by and
between CITIBANK, N.A. (“Lender”), and OMNIVISION
TECHNOLOGIES, INC. (“Borrower”) is made with reference
to the following facts:

 

RECITALS

 

A.          Lender
and Borrower entered into a Loan and Security Agreement, dated as of March 16,
2007 (as amended or modified from time to time, the “Loan Agreement”), pursuant to
which Lender made (i) a Mortgage Loan (as such term is defined in the Loan
Agreement) to Borrower in an initial principal amount not to exceed
Twenty-Seven Million Nine Hundred Twenty-Seven Thousand Forty-Five and No/100
Dollars ($27,927,045.00), and (ii) a Term Loan (as such term is defined in
the Loan Agreement) to Borrower in a total aggregate amount not to exceed
Twelve Million Dollars ($12,000,000), in each case, on the terms and conditions
contained in the Loan Agreement.

 

B.           The
Mortgage Loan is evidenced by that certain Promissory Note Secured by Deed of
Trust (Mortgage Loan), dated March 16, 2007, in the initial principal
amount of Twenty-Seven Million Nine Hundred Twenty-Seven Thousand Forty-Five
and No/100 Dollars ($27,927,045.00) (as amended, modified, renewed or extended,
the “Mortgage
Loan Note”).

 

C.           The
Term Loan is evidenced by that certain Promissory Note Secured by Deed of Trust
(Term Loan), dated March 16, 2007, in the initial principal amount of
Twelve Million and No/100 Dollars ($12,000,000.00) (as amended, modified,
renewed or extended, the “Term Loan Note”).

 

D.          The
parties hereto desire to amend the Loan Agreement, the Mortgage Loan Note and
the Term Loan Note as set forth in this Amendment.

 

E.           Except
as may be otherwise expressly defined in this Amendment, all capitalized terms
used in this Agreement shall have the meanings ascribed to them in the Loan
Agreement.

 

NOW, THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto agree as
follows:

 

AGREEMENT

 

1.           Recitals.
The Recitals set forth above are incorporated into this Amendment by this
reference.

 

 

2.           Modification of Loan
Agreement.

 

2.1           The
definition of Interest Period set forth in Section 1.1 of the Loan
Agreement is hereby deleted in its entirety and replaced with the following:

 

“`Interest Period’ means for (a) for the first
Interest Period hereunder, from the date of initial funding of either of the
Loans through and including March 31, 2007, and (b) for each Interest
Period thereafter commencing April 1, 2007, one calendar month (i.e.,
periods ending on the last day of each calendar month).”

 

2.2           The
definition of LIBOR Rate (Term Loan) set forth in Section 1.1 of the Loan
Agreement is hereby deleted in its entirety and replaced with the following:

 

“`LIBOR Rate (Term Loan)’ means, for each Interest
Period, the rate per annum determined by Lender as the sum of (a) the
quotient of (i) the LIBOR Base Rate (Term Loan) for such Interest Period, divided
by (ii) 100% minus the
Reserve Percentage, plus (b) one and one-quarter percent (1.25%). The
LIBOR Rate shall be adjusted on and as of the effective day of any change in
the Reserve Percentage.”

 

2.3           The
definition of LIBOR Rate (Mortgage Loan) set forth in Section 1.1 of the
Loan Agreement is hereby deleted in its entirety and replaced with the
following:

 

“`LIBOR Rate (Mortgage Loan)’ means, for each
Interest Period, the rate per annum determined by Lender as the sum of (a) the
quotient of (i) the LIBOR Base Rate (Mortgage Loan) for such Interest
Period, divided by (ii) 100% minus
the Reserve Percentage, plus (b) nine-tenths percent (0.90%). The LIBOR
Rate (Mortgage Loan) shall be adjusted on and as of the effective day of any
change in the Reserve Percentage.”

 

2.4           Section 3.2(a)(ii) of
the Loan Agreement is hereby deleted in its entirety and replaced with the
following:

 

“(ii)         Commencing
on May 1, 2007, and continuing on the first day of each calendar month
thereafter to and including October 1, 2008, Borrower shall make monthly
payments to Lender of principal and interest (in arrears) in an amount
necessary to fully amortize the Mortgage Loan over an amortization period
ending on April 30, 2032.”

 

2.5           Section 3.2(a)(iii) of
the Loan Agreement is hereby deleted in its entirety and replaced with the
following:

 

“(iii)        On
November 1, 2008, Borrower shall make a monthly principal payment in an
amount equal to Seventy-Six Thousand Five Hundred Fourteen and 54/100 Dollars
($76,514.54), plus interest in arrears at the LIBOR Rate (Mortgage Loan). Commencing
on December 1, 2008, and continuing on the first day of each calendar
month thereafter, Borrower shall make one hundred and one (101) monthly
principal payments in an amount equal to Forty-Six Thousand One Hundred
Thirty-Eight and 27/100 Dollars ($46,138.27), plus interest in arrears at the
LIBOR Rate (Mortgage Loan).”

 

2

 

2.6           The
following Section 3.2(a)(iv) is added to the Loan Agreement:

 

“(iv)        The
entire balance of principal and accrued interest and other amounts then outstanding
on the Mortgage Loan are due and payable on the Maturity Date (Mortgage Loan).
Borrower acknowledges that such balance will not equal the monthly payments
specified in Section 3.2(a)(i),  Section 3.2(a)(ii) and
Section 3.2(a)(iii).”

 

3.           Modification
of the Mortgage Loan Note. The Mortgage Loan Note is hereby modified as
follows:

 

3.1           The
provision in Section 6 of the Mortgage Loan Note is hereby deleted in its
entirety and replaced with the words, “INTENTIONALLY OMITTED.”

 

3.2           The
first sentence in Section 7 of the Mortgage Loan Note is hereby deleted in
its entirety and replaced with the following:

 

“Each payment hereunder shall be applied when received, first, to
accrued unpaid interest; then, to principal; and then to any unpaid Past Due
Charge (as defined in the Loan Agreement) and other unpaid fees and charges,
unless another order of payment is selected by Lender or is otherwise required
by applicable law.”

 

4.           Modification
of the Term Loan Note. The Term Loan Note is hereby modified as follows:

 

4.1           The
provision in Section 6 of the Term Loan Note is hereby deleted in its
entirety and replaced with the words, “INTENTIONALLY OMITTED.”

 

5.           Representations
and Warranties of Borrower. Borrower hereby represents and warrants to
Lender as follows:

 

5.1           No
Event of Default specified in the Loan Agreement and no event, which with
notice or lapse of time or both would become such an Event of Default, has
occurred and is continuing.

 

5.2           The
representations and warranties of Borrower pursuant to the Loan Agreement are
true on and as of the date hereof as if made on and as of said date.

 

3

 

5.3           The
making and performance by Borrower of this Amendment have been duly authorized
by all necessary action.

 

5.4           No
consent, approval, authorization, permit or license is required solely on
account of Borrower in connection with the making or performance of the Loan
Agreement, as amended hereby.

 

6.           Conditions
Precedent. The effectiveness of this Amendment is expressly conditioned
upon receipt by Lender of a counterpart original of this Amendment duly
executed by each of the parties hereto.

 

7.           Miscellaneous

 

7.1           No
failure on Lender’s part at any time to require the performance by Borrower of
any term of the Loan Agreement, as amended hereby, or any other Loan Document
shall in any way affect Lender’s rights to enforce such term, nor shall any
waiver by Lender of any term thereof be taken or held to be a waiver of any
other term thereof or of any breach or subsequent breach thereof.

 

7.2           Borrower
acknowledges and confirms its liability for all Indebtedness and Obligations
under the Loan Agreement, as amended hereby, and the other Loan Documents.

 

7.3           This
Amendment is made exclusively for the benefit of and solely for the protection
of Lender, on the one hand, and Borrower, on the other hand, and no other
person or persons shall have the right to enforce the provisions hereof by
action or legal proceedings or otherwise.

 

7.4           Whenever
the context so requires, all words used in the singular will be construed to
have been used in the plural, and vice versa, and each gender will include any
other gender. The headings used in this Amendment are inserted solely for the
convenience of reference and are not part of, nor intended to govern, limit or
aid in the construction of, any term or provision hereof.

 

7.5           At
no time shall the prior or subsequent course of conduct between Lender and
Borrower directly or indirectly limit, impair, or otherwise adversely affect
either party’s rights or remedies in connection with the Loan Agreement, this
Amendment or the other Loan Documents, or detract from or otherwise affect the
literal interpretation and effect of such documents.

 

7.6           This
Amendment represents the entire understanding and agreement of the parties with
respect to the subject matter hereof, except to the extent that the Loan
Agreement, the Mortgage Loan Note and the other Loan Documents still remain in
effect as described herein, and the same may not be altered or amended, except
by subsequent written agreement executed by the parties hereto. The parties
hereto acknowledge receipt of a copy of this Amendment.

 

4

 

7.7           In
the event of a conflict between the terms and provisions of this Amendment and
the terms and provisions of the Loan Agreement or the Mortgage Loan Note, the
terms and provisions of this Amendment shall govern. In all other respects, the
Loan Agreement and the Mortgage Loan Note, each as amended and supplemented
hereby, shall remain in full force and effect.

 

7.8           This
Amendment may be executed in any number of counterparts and by different
parties on separate counterparts, each of which when so executed and delivered
shall be deemed to be an original. All such counterparts, taken together, shall
constitute but one and the same Amendment.

 

7.9           This
Amendment will be governed by federal law applicable to Lender and, to the
extent not preempted by federal law, the laws of the State of California
without regard to its conflicts of law provisions.

 

7.10         TO THE FULLEST EXTENT
PERMITTED BY LAW, BORROWER AND LENDER EACH HEREBY WAIVE THE RIGHT TO TRIAL BY
JURY IN ANY ACTION OR PROCEEDING BASED UPON, ARISING OUT OF, OR IN ANY WAY
RELATING TO, THIS AMENDMENT, WHETHER SOUNDING IN CONTRACT OR TORT OR OTHERWISE.
NOTWITHSTANDING THE FOREGOING, ANY CONTROVERSY HEREUNDER SHALL BE GOVERNED BY
THE TERMS AND CONDITIONS OF THAT CERTAIN ALTERNATIVE DISPUTE RESOLUTION
AGREEMENT, DATED AS OF MARCH 16, 2007 BY AND BETWEEN BORROWER AND LENDER

 

IN WITNESS WHEREOF, this Amendment has been executed by the parties
hereto as of the date first above written.

 

OMNIVISION TECHNOLOGIES, INC.,

a Delaware corporation

 

	
  By: 

  	
  /s/ Anson Chan

  	
   

  
	
  Name: 

  	
  Anson Chan

  	
   

  
	
  Title: 

  	
  Chief Financial Officer

  	
   

  
					

 

 

CITIBANK, N.A.

 

	
  By:

  	
  /s/ Robert J. Hurley

  	
   

  
	
   

  	
  Robert J. Hurley

  
	
   

  	
  Vice President

  

 

5Exhibit 10.1

 

Execution Copy

 

December 4, 2008

 

William F. Aldinger III

[redacted]

 

Re:   Separation Agreement

 

Dear Bill:

 

This letter (the “Letter
Agreement”) will confirm our agreement regarding your separation from
service with Capmark Financial Group Inc. (together with its subsidiaries and
affiliates, “Capmark”).  Effective
as of December 4, 2008 (the “Termination Date”), you will resign
from your employment with Capmark and from any officer and director positions
you may hold with Capmark, including, without limitation, all positions on the
Board of Directors of Capmark (the “Board”) and any committees thereof.

 

1.             Consulting:  Commencing
on the Termination Date and ending no later than January 30, 2009, you
agree to provide such consulting services as may reasonably be requested by
Capmark (but which consulting shall in no event require you to provide more
than 20% of the average level of services to Capmark that you provided prior to
the Termination Date), for no additional consideration.

 

2.                                      Separation Payment; Employee
Benefits; Accrued Rights:

 

(a)           Separation
Payment.  As soon as practicable
following the Termination Date, Capmark shall pay you, in a lump sum, an
amount, such that, after payment by you of all federal, California state and
local payroll and income taxes imposed on such amount, you shall retain an
amount equal to $2,280,000.

 

(b)           Other
Benefit Plans.  You shall be entitled
to all benefits that you have accrued or in which you have become vested under
any tax-qualified retirement benefit plans or other benefit plans maintained by
Capmark in accordance with their terms.

 

(c)           Accrued
Rights.  In
addition to the foregoing, you shall also be entitled receive (i) any
accrued but unpaid base salary earned through the Termination Date, (ii) reimbursement,
within forty-five (45) days following submission by you to Capmark of
appropriate supporting documentation, for any unreimbursed business expenses
(including business use of your personal aircraft at the previously-agreed
hourly rate) properly incurred by you in accordance with Capmark’s policies
prior to the Termination Date, so long as the claims for such reimbursement
(accompanied by appropriate supporting documentation) are submitted to Capmark
within sixty (60) days (or such additional time as may be reasonable) following
the Termination Date or as soon as practicable thereafter, and (iii) payment
for any accrued but unused vacation days.

 

3.             Treatment of
Purchased Stock:  In connection with your termination of
employment with Capmark, notwithstanding any provisions of that certain
Management Stockholder’s Agreement, dated as of June 15, 2006, by and
between Capmark and you (the “Stockholder’s Agreement”) to the contrary,
Capmark shall purchase from you and each of the Management Stockholder Trusts
(as defined in the Stockholder’s Agreement) to which you have previously
transferred shares of Purchased Stock (as defined in the Stockholder’s
Agreement), and you and each of your Management Stockholder Trusts shall sell
to Capmark, all Purchased Stock originally purchased by you for an aggregate
amount equal to  $12,720,000 (less any taxes or
other amounts required by law to be withheld) (the “Stock Purchase

 

 

Price”). 
The Stock Purchase Price is equal to the product of (x) the
3,000,000 shares of Purchased Stock held by you and your Management Stockholder
Trusts in the aggregate and (y) $4.24 per share (i.e.,
the Fair Market Value of the Purchased Stock). 
Capmark will pay to you and your Management Stockholder Trusts, as
applicable, the full amount of the Stock Purchase Price (allocated as set forth
in the Transfer Agreement (attached hereto as Exhibit A), subject to
receipt by the General Counsel of Capmark of a copy of the Transfer Agreement
executed by you, as promptly as possible after the Transfer Agreement is
received by Capmark.  At such time,
Capmark will send to you and each of your Management Stockholder Trusts, at the
address set forth on the first page of this Letter Agreement, via
overnight delivery, a check in the amount of the Stock Purchase Price as set
forth in the Transfer Agreement. 
Alternatively, Capmark will pay the Stock Purchase Price to you and each
of your Management Stockholder Trusts by wire transfer, if you and each of your
Management Stockholder Trusts notify Capmark in writing of your desire to
receive the Stock Purchase Price via wire transfer, and provide wire
instructions, on or before the time that you deliver your executed Transfer
Agreement.  The Company hereby reserves
all of its rights under the Stockholder’s Agreement; provided, however, that it
hereby waives its right to exercise any call rights under Section 6 of the
Stockholder’s Agreement.

 

4.             Treatment of Options:  In connection with your termination of
employment with Capmark, you and Capmark each acknowledge and agree that, as of
the Termination Date, the option to purchase 12,000,000 shares of Common Stock
(as defined in the Option Agreement (as defined below)) that was granted to you
pursuant to the terms of that certain Option Agreement, dated June 1, 2006
(the “Grant Date”), by and between you and Capmark (the “Option
Agreement”), will be vested as to 8,000,000 shares of Common Stock, and the
unvested portion of the Option will terminate as of the Termination Date.  In addition, notwithstanding anything in the
Option Agreement to the contrary, the vested portion of the Option will remain
exercisable until the first to occur of the following: (i) the tenth (10th)
anniversary of the Grant Date and (ii) the events set forth in Section 3.2(a)(vi) of
the Option Agreement (i.e.,
pertaining to the occurrence of a merger or other corporate event). Your rights
under the Sale Participation Agreement with GMACCH Investor LLC, dated June 1,
2006, and your rights under Capmark’s Dividend Equivalent Rights Plan shall
continue in full force and effect with respect to your Option on the same basis
as if your employment had not terminated. 
Other than as specifically provided for herein, the Option shall
continue to be subject to, and you shall continue your rights under, the terms
and conditions of the Option Agreement and each agreement incorporated by
reference therein.  This Letter
Agreement, upon execution by both parties, hereby serves as an amendment to the
Option Agreement.

 

5.             Return of Property;
Expense Reports: Within thirty (30) days following the
Termination Date or as soon as practicable following the Termination Date, you
shall return to Capmark all documents, manuals, computers, computer programs,
CDs and/or diskettes, customer lists, notebooks, reports and other written or
graphic materials, including all copies thereof, relating in any way to Capmark’s
business and prepared by you or obtained by you from Capmark, its affiliates,
clients or its suppliers during the course of your employment with Capmark, as
well as all expense reimbursement requests and reports, prepared and provided
in accordance with the terms of Capmark’s expense reimbursement policy to which
you are currently subject.

 

6.             Litigation and Regulatory
Cooperation:  You agree to
cooperate fully with Capmark in the defense or prosecution of any claims or
actions now in existence or which may be brought in the future against or on
behalf of Capmark that relate to events or occurrences that transpired during
your employment with Capmark.  Your full
cooperation in connection with such claims or actions shall include, but not be
limited to, being available to meet with counsel to prepare for discovery or
trial and to act as a witness on behalf of Capmark at mutually convenient
times.  In scheduling your time to
prepare for discovery or trial, Capmark shall use reasonable efforts to attempt
to minimize interference with any 

 

2

 

other employment obligations that you may have.  You also will cooperate with Capmark in
connection with any investigation or review of any foreign, federal, state or
local regulatory authority as any such investigation or review relates to
events or occurrences that transpired while you were employed by Capmark.  Capmark will reimburse you for any reasonable
out-of-pocket expenses incurred in connection with any litigation and
regulatory cooperation provided after the Termination Date and will pay you a
per diem fee equal to $1,000 for any 7 hour period during which you provide any
such cooperation.  This provision will
survive the termination of this Letter Agreement.

 

7.             Post-Employment
Restrictions; Entire Agreement: 
This Letter Agreement constitutes the entire agreement between the
parties on the subject of any payments and benefits due to you upon your
termination of employment with Capmark; and, except as expressly provided
herein, supercedes all other prior agreements concerning the terms of any and
all payments and benefits to which you may be entitled upon termination of
employment, except that the restrictive
covenants contained in the Stockholder’s Agreement and any provisions related
thereto shall continue to apply and are hereby made a part of this Letter
Agreement by reference.  Notwithstanding
any provision in this Letter Agreement to the contrary, all payments hereunder
are expressly made contingent on your compliance in all respects with such
restrictive covenants.

 

8.             Non-Disclosure of Letter
Agreement:  You agree
that, to the extent that this Letter Agreement and the terms herein are not
required by applicable law to be disclosed in Capmark’s public securities
filings, you will keep the terms of this Letter Agreement confidential and you
agree that you will not disclose the terms of this Letter Agreement or its terms
to anyone other than your spouse, legal counsel and/or financial advisors, whom
you agree to inform of your obligations under this Paragraph 9 and of this
Letter Agreement’s highly confidential subject matter.  Notwithstanding the foregoing, you may disclose
to a future employer or potential future employer the terms and conditions of
your obligations under the restrictive covenants referenced in Paragraph 8 of
this Letter Agreement and you may disclose to any person or party the fact that
you and Capmark have entered into an amicable separation agreement.

 

9.             Section 409A of the
Code:  Notwithstanding
anything herein to the contrary, if any payment of money or other benefits due
to you hereunder could cause the application of an accelerated or additional
tax under Section 409A of the Internal Revenue Code of 1986, as amended
(the “Code”), such payment or other benefits will be deferred if
deferral will make such payment or other benefits compliant under Section 409A
of the Code (for instance, if you are a “specified employee” within the meaning
of Section 409A of the Code and you receive a payment or benefit
constituting deferred compensation hereunder upon a separation from service
(within the meaning of Section 409A of the Code, such payment or benefit
shall not be delivered to you until six months and one day following your
separation from service), or otherwise such payment or other benefits will be
restructured, to the extent possible, in a manner, determined by the Board,
that does not cause such an accelerated or additional tax. This Letter
Agreement is intended to comply with Section 409A of the Code and will be
interpreted accordingly.  References
under this Agreement to your termination of employment shall be deemed to refer
to the date upon which you have experienced a “separation from service” within
the meaning of Section 409A of the Code. 
Each payment made under this Letter Agreement shall be designated as a “separate
payment” within the meaning of Section 409A of the Code.  To the extent any reimbursements or in-kind
benefits due to you under this Letter Agreement constitute “deferred
compensation” under Section 409A of the Code, any such reimbursements or
in-kind benefits shall be paid to you in a manner consistent with Treas. Reg. Section 1.409A-3(i)(1)(iv).

 

10.           No Additional Payments:  The payments, rights and benefits described
in this Letter Agreement will be the only such payments, rights and benefits
you are to receive as a result of your termination of employment and you agree
you are not entitled to any additional payments, rights or 

 

3

 

benefits not otherwise described in this Letter Agreement.  You hereby acknowledge and agree that you are
not eligible to be a participant in any severance or incentive compensation
plan of Capmark.  Any payments, rights or
benefits received under this Letter Agreement will not be taken into account
for purposes of determining benefits under any employee benefit plan of
Capmark, except to the extent required by law, or as otherwise expressly
provided by the terms of such plan.

 

11.           Severability; Applicable
Law: The provisions of this Letter Agreement shall be deemed
severable, and the invalidity or unenforceability of any provision hereof shall
not affect the validity or enforceability of the other provisions hereof.  Any controversy or claim arising out of or
relating to this Letter Agreement or the breach of this Letter Agreement that
cannot be resolved by you and Capmark, including any dispute as to the
calculation of your benefits or any payments hereunder, shall be submitted to
arbitration in New York, New York, in accordance with the procedures of the
American Arbitration Association, which arbitration shall be a binding and
conclusive settlement of any such claims or disputes.  This Letter Agreement and any dispute
hereunder shall be construed, interpreted and governed in accordance with the
laws of the State of New York without reference to rules relating to
conflicts of law.  Each party shall bear
the costs of any legal fees and other fees and expenses which may be incurred
in respect of enforcing its respective rights under this Letter Agreement.

 

12.           Amendment:         This Letter
Agreement may only be amended or modified by a written agreement executed by
you and Capmark (or any successor).

 

13.           Counterparts:  This Letter Agreement may be executed in one
or more counterparts, which shall, collectively or separately, constitute one
agreement.

 

Please sign below to signify
your understanding and acceptance of the terms and conditions contained herein
and return a copy to me by no later than December 10, 2008.

 

Bill,
on behalf of the entire Board, I want to thank you for all you have done to
lead Capmark during these difficult times, and wish you the best in your future
endeavors.

 

 

	
   

  	
   

  	
  Very truly yours,

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  /s/ Scott Nuttall

  
	
   

  	
   

  	
  Scott Nuttall

  
	
   

  	
   

  	
  Chairman,

  
	
   

  	
   

  	
  Executive Development and
  Compensation Committee

  
	
   

  	
   

  	
  Board of Directors

  
	
   

  	
   

  	
  Capmark Financial Group
  Inc.

  

 

 

The foregoing has been read
and accepted as a binding agreement between Capmark and the undersigned this 4th
day of December, 2008.

 

 

	
  /s/ William F. Aldinger
  III

  	
   

  
	
  William F. Aldinger III

  	
   

  

 

4

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