Document:

Contractor Agreement

 Exhibit 10.31 
  
 CONTRACTOR AGREEMENT 
  
 This Agreement (the “Agreement”) is entered into on the 6th day of February, 2006, by and between Boulder Specialty Brands, Inc.
(“Company”), a Delaware corporation, located at 6106 Sunrise Ranch Drive, Longmont, CO 80503, and Christopher Wolf (“Contractor”), an individual residing at 536 18th Avenue Northeast, St. Petersburg, FL 33704. 
  
 In consideration of the premises and the mutual covenants and agreements herein, the receipt and sufficiency of which are hereby acknowledged, the parties
agree as follows: 
  
 1. Services: Subject to the terms and
conditions set forth in this Agreement, Contractor agrees to provide certain consulting services (the “Services”) to Company, including but not limited to financial services and general business advice in order to assist Company in
finalizing its Business Combination (as that term is defined in Company’s 424(b) Prospectus filing dated December 16, 2005). Company acknowledges that Contractor will have the right during the term hereof to render professional services
for third parties. 
  
 2. Term: The term of this Agreement shall
begin on February 20, 2006 and continue through December 15, 2007, subject, however, to prior termination as set out in paragraph 7 or execution of an employment agreement as set out in paragraph 7. In the event Company’s Business
Combination is completed prior to December 15, 2007, within sixty (60) days thereafter, Company and Contractor shall enter into a formal employment agreement for a minimum of one (1) year in accordance with the terms set out in
paragraph 8 below. 
  
 In the event Company has not completed its Business
Combination by December 15, 2007, Company may notify Contractor in writing that it intends to extend the Term of this Agreement and upon receipt of such notification, Contractor shall negotiate in good faith with Company for a new agreement
governing the continued performance of Services by Contractor. If Company has not completed its Business Combination by December 15, 2007, nothing herein shall bind either party to continue any contractor or employment relationship past
December 15, 2007. 
  
 3. Compensation and Payment: In exchange
for the performance of Services hereunder by Contractor, Company shall pay Contractor at the rate of $150.00 per hour. Contractor shall invoice Company at the end of each calendar month for the hours worked during such month. Company shall pay fifty
percent (50%) of such invoice within ten (10) days of receipt. The remaining fifty percent (50%) of the invoice shall be paid within thirty (30) days after completion of Company’s Business Combination or based on such other
schedule as agreed in writing by the parties. In addition, immediately following completion of Company’s Business Combination, Company shall 

 
pay to Contractor a completion bonus, the amount and payment terms of which shall be mutually determined by the parties. Excluding the impact of any
completion bonus, the total amount of compensation paid to the Contractor for services provided hereunder shall not exceed $300,000 without the expressed written consent of the Company. 
  
 All references to dollars in this Agreement shall be to United States dollars and all payments to be made by Company under this Agreement
shall be paid in United States dollars. 
  
 4. Expenses: Company
agrees to reimburse Contractor for such reasonable, ordinary, and necessary out-of-pocket expenses incurred by Contractor in performing the assigned duties, including but not limited to, a daily per diem when traveling. Contractor shall be entitled
to, coach class travel when flying domestically and business class travel when flying internationally on Company’s behalf. All expense submissions shall be paid within fifteen (15) days from receipt by Company.  
  
 5. Relationship of Parties: Nothing in this Agreement shall create any
partnership, joint venture or agency relationship between the parties hereto, and neither party will act to bind or purport to bind the other party in any way. The relationship between the parties shall be that of independent contractors, and not as
agent and principal or employee and employer. 
  
 6. Termination:
Company will have the right to terminate this Agreement without liability or further obligation to Contractor if (i) Contractor fails to adequately or completely perform any of the duties or obligations hereunder, whether express or implied;
(ii) Contractor fails to follow the direction of Company officers; (iii) Contractor becomes incapacitated due to physical or mental injury or illness, in such a manner so as to render Contractor, in Company’s sole reasonable opinion,
incapable of properly performing the duties required of Contractor hereunder; or (iv) Contractor otherwise breaches any provision or representation of this Agreement and, if curable, such breach remains unremedied for a period of seven
(7) days following Contractor’s receipt of written notice thereof. Contractor will have the right to terminate this Agreement at anytime, upon ninety (90) days written notice, without liability or further obligation to Company.

  
 7. Future Employment: Upon completion of the Business
Combination or at such earlier time as agreed by the parties, Company and Contractor shall enter into an employment agreement for a minimum of one (1) year for Contractor to be employed as Company’s Chief Financial Officer
(“CFO”) and such employment agreement shall supersede and replace this Contractor Agreement on a going forward basis. The CFO position will be an executive level position reporting to the Chief Executive Officer and/or the Vice Chairman.
The base salary will be initially set at $300,000 per annum. In addition, the employment contract shall include the following elements (i) an annual bonus with a target pay out consistent with similar executive level positions in the Company;
(ii) stock option grants or stock grants consistent with similar executive level positions in the Company; (iii) a medical, life insurance, vacation and sick leave program 

 
consistent with similar executive level positions in the Company; and (iv) a relocation package consistent with that provided to similar senior
executive level positions in the Company. 
  
 If, for any reason other than
reasons outlined in paragraph 6 above, Contractor is not offered employment as the Company’s CFO under the terms of this paragraph 7, Company shall pay to Contractor a separation payment in the amount of $300,000, payable in twelve
(12) monthly installments beginning within thirty (30) days after the last contractor compensation payment hereunder. 
  
 8. Return of Property and Non-Disclosure: Contractor agrees that upon termination or expiration of this Agreement, Contractor shall promptly deliver to
Company all property, lists, information, memoranda, documents and all other property belonging to Company, including that which relates to the services performed by Contractor for Company or which was created or obtained by Contractor while
performing services for Company. Contractor agrees that Contractor shall not, either during the term of this Agreement or thereafter, disclose to any person, firm, partnership, association or corporation any Trade Secrets (as that term is
hereinafter defined) of Company or its parent, affiliates or subsidiary corporations or relating to their directors or officers which were disclosed to Contractor or came within Contractor’s knowledge during the course of this Agreement, or
shall Contractor make or cause to be made any use of such Trade Secrets except as is necessary in the performance of Contractor’s duties hereunder. Trade Secrets shall mean any data, information, formula, pattern, compilations, program, device,
mechanism, method, technique, drawing, plan, process or list which is disclosed to Contractor as a consequence of or through Contractor’s relationship with Company and which has a value to Company, its parent, affiliates or subsidiary
corporations’ financial affairs, products, services, customers, officers, directors, employees and employees’ compensation. In addition, the terms of this Agreement shall be deemed confidential and shall not be discussed or disclosed by
Contractor with any person other than Contractor’s spouse, attorney or accountant, provided that such discussions or disclosures shall be conditioned upon the agreement of the person to whom the terms are disclosed to maintain the
confidentiality of such terms. 
  
 9. Representations: Each
of the parties to this Agreement represents and warrants to the other party that (i) it has the full right and capacity to enter into and perform this Agreement; (ii) the execution, delivery and performance of this Agreement by that party
has been duly authorized and will not violate or conflict with any agreement, instrument, commitment or arrangement to which that party is bound or any law, regulation, order, writ, judgment, injunction or decree applicable to that party;
(iii) this Agreement is a legal, valid, and binding agreement of that party, enforceable against that party in accordance with its terms; (iv) no further consents, approvals, authorizations, or filings from or with any person or entity are
necessary for the execution, delivery, and performance of this Agreement by that party; and (v) there is no claim, litigation, proceeding, or governmental investigation pending or, to the best of that party’s knowledge, threatened, or an
order, injunction, or decree outstanding, against that party 

 
that could materially and adversely affect that party’s ability to perform any of its obligations under this Agreement. 
  
 10. Notices. All notices and statements provided for or required by this
Agreement (other than invoices and payments) shall be in writing, and shall be delivered personally to the other designated party, or mailed by certified or registered mail, return receipt requested, or deposited with a recognized national overnight
courier service to the addresses set out above. Notices shall be deemed effective on the earlier of when hand delivered, when deposited with a recognized national overnight courier service or when received by certified or registered mail.

  
 11. Miscellaneous. 
  
 a. This Agreement, and the documents referenced herein, contain the entire
agreement and understanding and shall supersede all prior agreements or understandings concerning the subject matter hereof between the parties hereto. No waiver, termination or discharge of this Agreement, or any of the terms or provisions hereof,
shall be binding upon either party hereto unless confirmed in writing. This Agreement may not be modified or amended, except by a writing executed by both parties. No waiver by either party of any term or provision of this Agreement or of any
default hereunder shall affect such party’s rights thereafter to enforce such term or provision or to exercise any right or remedy in the event of any other default, whether or not similar. 
  
 b. Regardless of the place of execution hereof, this Agreement and all
amendments hereto, shall be deemed to have been negotiated, made, entered into and fully performed in the State of Florida, without regard to the actual location at which Contractor provides Services to Company. This Agreement shall be governed by
and construed exclusively in accordance with the laws of the State of Florida applicable to contracts made, entered into and performed entirely therein, without giving effect to its conflict of laws provisions. Contractor and Company hereby
(i) submit to the jurisdiction of the United States District Court for the Middle District of Florida and of any Florida state court sitting in Pinellas County for the purposes of all legal proceedings arising out of or relating to this
Agreement and (ii) irrevocably waive, to the fullest extent permitted by law, any objection which it may now or hereafter have to the venue of any such proceeding which is brought in such a court. Additionally, the parties hereto agree that the
State of Florida shall be the exclusive forum and situs for the resolution of any and all disputes, controversies or matters arising herefrom or related hereto. 
  

c. Neither party may assign this Agreement, in whole or in part, without the prior written consent of the other party, and any attempted assignment not
in accordance herewith shall be null and void and of no force or effect. 
  
 d. This Agreement shall be binding on Contractor and his successors and permitted assigns. 

 e. The headings contained herein are for the convenience of the parties only and shall not be interpreted
to limit or affect in any way the meaning of the language contained in this Agreement. 
  
 f. This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original, but all of which together shall constitute the same Agreement. Any signature page of any such
counterpart, or any electronic facsimile thereof, may be attached or appended to any other counterpart to complete a fully executed counterpart of this Agreement, and any telecopy or other facsimile transmission of any signature shall be deemed an
original and shall bind such party. 
  
 g. In the event that any
action, suit, arbitration proceeding or other proceeding is instituted concerning or arising out of this Agreement, the prevailing party shall recover all of such party’s costs, including, without limitation, the court costs and attorneys’
fees incurred in each and every such action, suit or proceeding, including any and all appeals or petitions therefrom. As used herein, “attorneys’ fees” shall mean the full and actual costs of any legal services actually rendered in
connection with the matters involved, calculated on the basis of the usual fee charged by the attorneys performing such services, and shall not be limited to “reasonable attorneys’ fees” as required by any statute or rule of court.

  
 h. If any provision of this Agreement shall be held void,
voidable, invalid or inoperative, no other provision of this Agreement shall be affected as a result thereof, and accordingly, the remaining provisions of this Agreement shall remain in full force and effect as though such void, voidable, invalid or
inoperative provision had not been contained herein. 
  
 i.
Notwithstanding any termination of this Agreement, all provisions which, by their terms or reasonable interpretation thereof, sets forth obligations that extend beyond the termination of this Agreement hereof shall survive and remain in full force
and effect. 
  
 IN WITNESS WHEREOF, the parties hereto have
executed or caused their duly authorized representatives to execute this Agreement to be effective as of the day and year first above written. 
  

									
	 CONTRACTOR
	 	 	 	 COMPANY

			
	 Christopher Wolf
	 	 	 	 Boulder Specialty Brands, Inc.

					
	 Signature:
	 	 /s/ Christopher Wolf
	 	 	 	 Signature:
	 	 /s/ Robert S. Gluck

			
	 Title: Consultant
	 	 	 	Title: Vice Chairman
					
	 Printed Name:
	 	 Christopher Wolf
	 	 	 	 Printed Name: 
	 	 Robert S. GluckExhibit 10.10.5

THIRD AMENDMENT TO SECOND AMENDED AND RESTATED 
 LOAN AGREEMENT

          THIS THIRD AMENDMENT tO SECOND AMENDED aND RESTATED LOAN AGREEMENT(“Amendment”) is made and entered into as of February 9, 2006 by and between LOGICVISION, INC., a Delaware corporation (“Borrower”), and COMERICA BANK, successor by merger to Comerica Bank-California  (“Bank”).

RECITALS

          A.          Borrower and Bank have entered into that certain Second Amended and Restated Loan Agreement dated as of February 9, 2004, as amended by that certain First Amendment to Second Amended and Restated Loan Agreement dated as of December 29, 2004 and that certain Second Amendment to Second Amended and Restated Loan Agreement dated as of January 31, 2005 (collectively, the “Loan Agreement”) pursuant to which Bank has agreed to extend and make available to Borrower certain credit facilities. 

          B.          Borrower desires that Bank amend the Loan Agreement upon the terms and conditions more fully set forth herein.

          C.          Subject to the representations and warranties of Borrower herein and upon the terms and conditions set forth in this Amendment, Bank is willing to so amend the Loan Agreement.

          D.          This Amendment, the Loan Agreement and the other Loan Documents (as defined in the Loan Agreement), together with all other documents entered into or delivered pursuant to any of the foregoing, in each case as originally executed or as the same may from time to time be modified, amended, supplemented, restated or superseded are hereinafter collectively referred to as the “Loan Documents.”

AGREEMENT

          Now, THEREFORE, in consideration of the foregoing recitals and the mutual covenants herein set forth and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound, Borrower and Bank hereby agree to amend the Loan Agreement as follows:

                       1.          Definitions.  Unless otherwise defined herein, all terms defined in the Loan Agreement have the same meaning when used herein.

                       2.          Limited Waiver.  Subject to the terms and conditions set forth herein and in reliance upon the representations and warranties of Borrower set forth herein, Bank hereby waives the violation of the following financial covenants for the indicated periods:

	
  
Financial Covenant
  	
   
 	
  
Frequency
  	
   
 	
  
Actual ($   000’s)/ 
   Time Period
  	
   
 	
  
Required   ($ 000’s)
  	
   
 
	
  

  	
   
 	
  

  	
  

  	
   
 	
  

  	
  

  	
   
 	
  

  	
  

  	
   
 
	
  Unrestricted   Cash (Section 6.7)
  	
  
 
  	
  
 
  	
  
Quarterly
  	
  
 
  	
  
 
  	
  
$14,175/September   30, 2005
  	
  
 
  	
  
 
  	
  
$20,000 (minimum)
  	
  
 
  
	
  
Unrestricted   Cash (Section 6.7)
  	
  
 
  	
  
 
  	
  
Quarterly
  	
  
 
  	
  
 
  	
  
$10,696/December   31, 2005
  	
  
 
  	
  
 
  	
  
$20,000 (minimum)
  	
  
 
  
	
  Maximum Net   Loss (minimum net profit) (Section 6.10)
  	
  
 
  	
  
 
  	
  
Rolling 2Q
  	
  
 
  	
  
 
  	
  
($5,473)/December   31, 2005
  	
  
 
  	
  
 
  	
  
+$1 (minimum)
  	
  
 
  

          This waiver is one-time only, is limited precisely as written, and shall not be deemed to be a consent to the breach of the above-referenced covenants for any other time period, or the breach of any other covenant.

                       3.          Amendments to Loan Agreement.

                                    a.          The definition of “Credit Extension” contained in Section 1.1 of the Loan Agreement is hereby amended and restated in its entirety to read as follows:

          “Credit Extension” means each Advance, Letter of Credit, Exchange Contract, or any other extension of credit by Bank for the benefit of Borrower hereunder.

                                    b.          The definition of “Revolving Line” contained in Section 1.1 of the Loan Agreement is hereby amended and restated in its entirety to read as follows:

          “Revolving Line” means a credit extension of up to One Million Dollars ($1,000,000).

                                    c.          The definition of “Revolving Maturity Date” contained in Section 1.1 of the Loan Agreement is hereby amended and restated in its entirety to read as follows:

          “Revolving Maturity Date” means February 28, 2007.

                                    d.          Section 2.1(b) of the Loan Agreement is hereby deleted.

                                    e.          Section 2.1(d) of the Loan Agreement is amended (a) by deleting “$1,000,000” in the tenth line thereof and substituting “$2,000,000” therefor and (b) by deleting “$100,000” in the thirteenth line thereof and substituting “$200,000” therefor.

                                    f.          Section 6.6 of the Loan Agreement (“Principal Depository”) is hereby amended and restated in its entirety to read as follows:

          “6.6          Principal Depository.  Borrower shall maintain its principal depository, operating, and investment accounts with Bank or Bank’s Affiliates.”

                                    g.          Section 6.7 of the Loan Agreement (“Unrestricted Cash”) is hereby amended and restated in its entirety to read as follows:

          “6.7          Unrestricted Cash.  Borrower shall maintain a balance of unrestricted cash and cash equivalents (including securities which have a maturity of two years or less if they are considered “Available for Sale” or “Held-to-Maturity” Investments” under GAAP and Financial Accounting Standards Board 115), minus Indebtedness to Bank, of at least Five Million Dollars ($5,000,000) during each fiscal quarter.”

                                    h.          Section 6.8 of the Loan Agreement (“Total Liabilities-Tangible Net Worth”) is hereby amended and restated in its entirety to read as follows:

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          “6.8          Total Liabilities-Tangible Net Worth.  Borrower shall maintain, as of the last day of each fiscal quarter, a ratio of Total Liabilities less Deferred Revenue to Tangible Net Worth of not more than 1.00 to 1.00.”

                                    i.          Section 6.10 of the Loan Agreement (Quarterly Net Loss; Profitability) is hereby deleted.

                                    j.          Section 7.3 of the Loan Agreement is amended by deleting “Ten Million Dollars ($10,000,000)” from clause (iv) thereof and substituting therefor “One Million Dollars ($1,000,000)”.

                                    k.           Section 7.13 of the Loan Agreement is amended by deleting “Four Million Dollars ($4,000,000)” therefrom and substituting therefor “Seven Hundred and Fifty Thousand Dollars ($750,000)”.

                                    l.          The Bank’s address set forth in Section 10 of the Loan Agreement is hereby amended as follows:

	
  
 
  	
  
“If to Bank:
  	
  
 
  	
  
Comerica   Bank
  
	
  
 
  	
  
 
  	
  
 
  	
  
75 East   Trimble Road
  
	
  
 
  	
  
 
  	
  
 
  	
  
Mail Code   4770
  
	
  
 
  	
  
 
  	
  
 
  	
  
San Jose,   CA  95131
  
	
  
 
  	
  
 
  	
  
 
  	
  
FAX:  (408) 556-5091
  
	
   
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
with a copy   to:
  	
  
 
  	
  
Comerica   Bank
  
	
  
 
  	
  
 
  	
  
 
  	
  
Technology   & Life Sciences Division
  
	
  
 
  	
  
 
  	
  
 
  	
  
226 Airport   Parkway
  
	
  
 
  	
  
 
  	
  
 
  	
  
1st   Floor, M/C 4120
  
	
  
 
  	
  
 
  	
  
 
  	
  
San Jose, CA   95110
  
	
   
  	
  
 
  	
  
 
  	
  
Attn:  Guy Simpson
  
	
  
 
  	
  
 
  	
  
 
  	
  
FAX:  (408) 451-8569”
  

                                    m.          Section 11 of the Loan Agreement is hereby amended and restated in its entirety to read as follows:

          “11.           CHOICE OF LAW AND VENUE; JURY TRIAL WAIVER; JUDICIAL REFERENCE.

                            This Agreement shall be governed by, and construed in accordance with, the internal laws of the State of California, without regard to principles of conflicts of law.  Each of Borrower and Bank hereby submits to the exclusive jurisdiction of the state and Federal courts located in the County of Santa Clara, State of California.  THE UNDERSIGNED ACKNOWLEDGE THAT THE RIGHT TO TRIAL BY JURY IS A CONSTITUTIONAL ONE, BUT THAT IT MAY BE WAIVED UNDER CERTAIN CIRCUMSTANCES.  TO THE EXTENT PERMITTED BY LAW, EACH PARTY, AFTER CONSULTING (OR HAVING HAD THE OPPORTUNITY TO CONSULT) WITH COUNSEL OF ITS CHOICE, KNOWINGLY AND VOLUNTARILY, AND FOR THE MUTUAL BENEFIT OF ALL PARTIES, WAIVES ANY RIGHT TO TRIAL BY JURY IN THE EVENT OF LITIGATION ARISING OUT OF OR RELATED TO THIS AGREEMENT OR ANY OTHER
DOCUMENT, INSTRUMENT OR AGREEMENT BETWEEN THE UNDERSIGNED PARTIES.

                            In the event the jury trial waiver set forth above is not enforceable, the parties elect to proceed under the following Judicial Reference Provision.

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                                 (a)          With the exception of the items specified in clause (b), below, any controversy, dispute or claim (each, a “Claim”) between the parties arising out of or relating to this Agreement or any other document, instrument or agreement between the undersigned parties (collectively in this Section, the “Comerica Documents”), will be resolved by a reference proceeding in California in accordance with the provisions of Sections 638 et seq. of the California Code of Civil Procedure (“CCP”), or their successor sections, which shall constitute the exclusive remedy for the resolution of any Claim, including whether the Claim is subject to the reference proceeding. Except as otherwise
provided in the Comerica Documents, venue for the reference proceeding will be in the state or federal court in the county or district where the real property involved in the action, if any, is located or in the state or federal court in the county or district where venue is otherwise appropriate under applicable law (the “Court”).

                                 (b)          The matters that shall not be subject to a reference are the following: (i) nonjudicial foreclosure of any security interests in real or personal property, (ii) exercise of self-help remedies (including, without limitation, set-off), (iii) appointment of a receiver and (iv) temporary, provisional or ancillary remedies (including, without limitation, writs of attachment, writs of possession, temporary restraining orders or preliminary injunctions). This reference provision does not limit the right of any party to exercise or oppose any of the rights and remedies described in clauses (i) and (ii) or to seek or oppose from a court of competent jurisdiction any of the items described in clauses (iii) and
(iv). The exercise of, or opposition to, any of those items does not waive the right of any party to a reference pursuant to this reference provision as provided herein.

                                 (c)          The referee shall be a retired judge or justice selected by mutual written agreement of the parties. If the parties do not agree within ten (10) days of a written request to do so by any party, then, upon request of any party, the referee shall be selected by the Presiding Judge of the Court (or his or her representative). A request for appointment of a referee may be heard on an ex parte or expedited basis, and the parties agree that irreparable harm would result if ex parte relief is not granted.  Pursuant to CCP § 170.6, each party shall have one peremptory challenge to the referee selected by the Presiding Judge of the Court (or his or her representative).

                                 (d)          The parties agree that time is of the essence in conducting the reference proceedings. Accordingly, the referee shall be requested, subject to change in the time periods specified herein for good cause shown, to (i) set the matter for a status and trial-setting conference within fifteen (15) days after the date of selection of the referee, (ii) if practicable, try all issues of law or fact within one hundred twenty (120) days after the date of the conference and (iii) report a statement of decision within twenty (20) days after the matter has been submitted for decision.

                                 (e)          The referee will have power to expand or limit the amount and duration of discovery.  The referee may set or extend discovery deadlines or cutoffs for good cause, including a party’s failure to provide requested discovery for any reason whatsoever. Unless otherwise ordered based upon good cause shown, no party shall be entitled to “priority” in conducting discovery, depositions may be taken by either party upon seven (7) days written notice, and all other discovery shall be responded to within fifteen (15) days after service. All disputes relating to discovery which cannot be resolved by the parties shall be submitted to the referee whose decision shall be final and
binding.

                                 (f)          Except as expressly set forth herein, the referee shall determine the manner in which the reference proceeding is conducted including the time and place of hearings, the order of presentation of evidence, and all other questions that arise with respect to the course of the reference proceeding.  All proceedings and hearings conducted before the referee, except for trial, shall be conducted without a court reporter, except that when any party so requests, a court reporter will be used at any hearing conducted before the referee, and the referee will be provided a courtesy copy of the transcript. The party making such a request shall have the obligation to arrange for and pay the court reporter.
Subject to the referee’s power to award costs to the prevailing party, the parties will equally share the cost of the referee and the court reporter at trial.

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                                 (g)          The referee shall be required to determine all issues in accordance with existing case law and the statutory laws of the State of California. The rules of evidence applicable to proceedings at law in the State of California will be applicable to the reference proceeding. The referee shall be empowered to enter equitable as well as legal relief, enter equitable orders that will be binding on the parties and rule on any motion which would be authorized in a court proceeding, including without limitation motions for summary judgment or summary adjudication. The referee shall issue a decision at the close of the reference proceeding which disposes of all claims of the parties that are the subject of the
reference.  Pursuant to CCP § 644, such decision shall be entered by the Court as a judgment or an order in the same manner as if the action had been tried by the Court and any such decision will be final, binding and conclusive.  The parties reserve the right to appeal from the final judgment or order or from any appealable decision or order entered by the referee.  The parties reserve the right to findings of fact, conclusions of laws, a written statement of decision, and the right to move for a new trial or a different judgment, which new trial, if granted, is also to be a reference proceeding under this provision.

                                 (h)          If the enabling legislation which provides for appointment of a referee is repealed (and no successor statute is enacted), any dispute between the parties that would otherwise be determined by reference procedure will be resolved and determined by arbitration.   The arbitration will be conducted by a retired judge or justice, in accordance with the California Arbitration Act §1280 through §1294.2 of the CCP as amended from time to time. The limitations with respect to discovery set forth above shall apply to any such arbitration proceeding.

                                 (i)          THE PARTIES RECOGNIZE AND AGREE THAT ALL CONTROVERSIES, DISPUTES AND CLAIMS RESOLVED UNDER THIS REFERENCE PROVISION WILL BE DECIDED BY A REFEREE AND NOT BY A JURY. AFTER CONSULTING (OR HAVING HAD THE OPPORTUNITY TO CONSULT) WITH COUNSEL OF ITS OWN CHOICE, EACH PARTY KNOWINGLY AND VOLUNTARILY, AND FOR THE MUTUAL BENEFIT OF ALL PARTIES, AGREES THAT THIS REFERENCE PROVISION WILL APPLY TO ANY CONTROVERSY, DISPUTE OR CLAIM BETWEEN OR AMONG THEM ARISING OUT OF OR IN ANY WAY RELATED TO, THIS AGREEMENTOR THE OTHER COMERICA DOCUMENTS.”

                                              n.          Exhibit C to the Loan Agreement is hereby deleted in its entirety and replaced with Exhibit C attached hereto.

                                 4.          Representations And Warranties.  Borrower represents and warrants that its representations and warranties in the Loan Documents continue to be true and complete in all material respects as of the date hereof after giving effect to this Amendment (except to the extent such specifically relate to another date) and that the execution, delivery and performance of this Amendment are duly authorized, do not require the consent or approval of any governmental body or regulatory authority and are not in contravention of or in conflict with any law or regulation or any term or provision of any other agreement entered into by Borrower.  Borrower further represents and warrants that, as of the date
hereof after giving effect to this Amendment, no Event of Default has occurred and is continuing.

                                 5.          Full Force And Effect; Entire Agreement.  Except to the extent expressly provided in this Amendment, the terms and conditions of the Loan Agreement and the other Loan Documents shall remain in full force and effect.  This Amendment and the other Loan Documents constitute and contain the entire agreement of the parties hereto and supersede any and all prior agreements, negotiations, 

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correspondence, understandings and communications between the parties, whether written or oral, respecting the subject matter hereof.  The parties hereto further agree that the Loan Documents comprise the entire agreement of the parties thereto and supersede any and all prior agreements, negotiations, correspondence, understandings and other communications between the parties thereto, whether written or oral respecting the extension of credit by Bank to Borrower and/or its affiliates.  Except as expressly set forth herein, the execution, delivery and performance of this Amendment shall not operate as a waiver of, or as an amendment of, any right, power or remedy of Bank under the Loan Agreement or any other Loan Document as in effect prior to the date hereof.

                                 6.          Counterparts; Effectiveness.  This Amendment may be executed in any number of counterparts, each of which when so delivered shall be deemed an original, but all such counterparts taken together shall constitute but one and the same instrument.  This Amendment is effective as of the date first above written; provided that, as a condition to the effectiveness of this Amendment, Bank shall have received, in form and substance satisfactory to Bank, the following:

                                              (a)          this Amendment, duly executed by Borrower;

                                              (b)          an amendment fee equal to $3,500, which shall be nonrefundable;

                                              (c)          all reasonable Bank Expenses incurred through the date of this Amendment, including but not limited to, reasonable attorneys’ fees incurred in connection with this Amendment; and

                                              (d)          such other documents, and completion of such other matters, as Bank may reasonably deem necessary or appropriate.

(Remainder of page intentionally left blank)

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          IN WITNESS WHEREOF, each of the parties hereto has caused this Amendment to be executed and delivered by its duly authorized officer as of the date first written above.

	
  
 
  	
  
BORROWER:
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
LOGICVISION, INC.,
  
	
  
 
  	
  
a Delaware   corporation
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
By:  
  	
  
/s/ Bruce M.   Jaffe
  
	
   
  	
  
 
  	
  

  
	
  
 
  	
  
Name:
  	
  
Bruce M.   Jaffe
  
	
  
 
  	
  
Title: 
  	
  
Vice   President and Chief Financial Officer
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
B ANK:
  
	
  
 
  	
  
 
  
	
  
 
  	
  
COMERICA BANK
  
	
   
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
By:  
  	
  
/s/ Guy   Simpson
  
	
  
 
  	
  
 
  	
  

  
	
  
 
  	
  
Name:
  	
  
Guy Simpson
  
	
  
 
  	
  
Title:  
  	
  
Vice   President
  

7

EXHIBIT C

COMPLIANCE CERTIFICATE

TO:       COMERICA BANK 
 FROM: LogicVision, Inc.

          The undersigned authorized officer of LogicVision, Inc. hereby certifies that in accordance with the terms and conditions of the Second Amended and Restated Loan Agreement dated as of February 9, 2004 between Borrower and Bank, as amended (the “Agreement”), (i) Borrower is in complete compliance for the period ending _______________ with all required covenants except as noted below and (ii) all representations and warranties of Borrower stated in the Agreement are true and correct as of the date hereof.  Attached herewith are the required documents supporting the above certification.  The Officer further certifies that these are prepared in accordance with Generally Accepted Accounting Principles (GAAP) and are consistently applied from one period to the next except as explained in an accompanying letter or footnotes.

Please indicate compliance status by circling Yes/No under “Complies” column.

	
  
Reporting Covenant
  	
   
 	
  
Required
  	
   
 	
  
Complies
  
	
  

  	
   
 	
  

  	
   
 	
  

  
	
  Company   prepared financial statements
   (Consolidated and Consolidating)
  	
  
 
  	
  
Quarterly   within 45 days
  	
  
 
  	
  
Yes
  	
  
No
  
	
  
Annual
   (CPA Audited; Consolidated and Consolidating)
  	
  
 
  	
  
FYE within   90 days
  	
  
 
  	
  
Yes
  	
  
No
  
	
  
10K and 10Q
  	
  
 
  	
  
On the date   of delivery to the Securities Exchange Commission
  	
  
 
  	
  
Yes
  	
  
No
  
	
  
Company   prepared cash balance statement
  	
  
 
  	
  
Monthly   within 30 days
  	
  
 
  	
  
Yes
  	
  
No
  

	
  
Financial Covenant
  	
   
 	
  
Required
  	
   
 	
  
Actual
  	
   
 	
  
Complies
  
	
  

  	
  
 
  	
  

  	
  
 
  	
  

  	
  
 
  	
  

  
	
  Maintain on   a Quarterly Basis:
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
Minimum Unrestricted Cash
  	
  
 
  	
  
$5,00,000
  	
  
 
  	
  
$__________
  	
  
 
  	
  
Yes
  	
  
No
  
	
  
Total Liabilities / Tangible Net Worth
  	
  
 
  	
  
1.00 : 1.00
  	
  
 
  	
  
_______:   1.00
  	
  
 
  	
  
Yes
  	
  
No
  

	
  
Comments Regarding Exceptions:  See Attached.
  	
  
 
  	
  
  BANK USE ONLY

	
  
 
  	
  
 
  	
  
Received by:
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  	
  

  
	
  
Sincerely,
  	
  
 
  	
  
 
  	
  
AUTHORIZED SIGNER
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
   
  	
  
 
  	
  
Date:
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  	
  

  
	
  

  	
  
 
  	
  
Verified:
  	
  
 
  
	
  
SIGNATURE
  	
  
 
  	
  
 
  	
  

  
	
  
 
  	
  
 
  	
  
 
  	
  
AUTHORIZED SIGNER
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  

  	
   
  	
  
Date:
  	
  
 
  
	
  
TITLE
  	
  
 
  	
  
 
  	
  

  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
Compliance   Status                                                  Yes         No
  
	
  

  	
  
 
  	
  
 
  	
  
 
  
	
  
DATE
  	
  
 
  	
  
 
  	
  
 
  

8

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00097-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00097-of-00352.parquet"}]]