Document:

<PAGE>
                                                                   EXHIBIT 10.br

                              EMPLOYMENT AGREEMENT

         SBS Technologies, Inc. ("Company") and Daniel Moore ("Employee") agree,
effective April 26, 2002:

         1.       EMPLOYMENT. Company employs Employee for the period beginning
                  on the date of this Employment Agreement as set forth below,
                  and ending three years from its date or upon discharge or
                  resignation of Employee in accordance with the terms of this
                  Agreement (the "Employment Period"). During the Employment
                  Period, Employee will serve in the position of Executive Vice
                  President, and Member of Executive Committee of the Company,
                  or other management position as determined by the Company.
                  Employee will devote sufficient time and energies to the
                  business of Company to accomplish the duties assigned, will
                  perform to the best of Employee's ability all duties assigned
                  to Employee by Company and will devote Employee's best efforts
                  to advance the interests of Company. Employee will have the
                  power and authority determined by Company.

         2.       COMPENSATION. For all services performed by Employee for
                  Company during the Employment Period, Company will pay
                  Employee the salary and benefits set forth on Appendix "A".
                  Employee will be entitled to participate in employee benefit
                  programs established by Company and applicable to all
                  full-time employees. Employee will be entitled to vacation,
                  national holidays and paid sick leave in accordance with
                  Company policy and Appendix A. During vacation, national
                  holidays, and paid sick leave, Employee will receive
                  Employee's usual compensation.

         3.       REIMBURSEMENT OF EXPENSES. Company recognizes that Employee,
                  in performing Employee's duties hereunder, may be required to
                  spend sums of money in connection with those duties for the
                  benefit of Company. Employee may present to Company an
                  itemized voucher listing expenses paid by Employee in the
                  performance of Employee's duties on behalf of Company, and on
                  presentation of the itemized voucher, Company will reimburse
                  Employee for all reasonable expenses itemized, including but
                  not limited to, travel, meals, lodging, entertainment, and
                  promotion with respect to all activities approved in advance
                  by Company. Employee may receive advances from Company for
                  anticipated expenses. Employee agrees that the amount by which
                  an advance exceeds actual expenses ("Amount") will be promptly
                  refunded to Company upon determination by Company that it is
                  due, that the Amount may be deducted from any payments of any
                  nature (including without limitation salary) owed by Company
                  to employee, and that the Amount will constitute a debt from
                  Employee to Company, enforceable by Company in all respects as
                  if

EMPLOYMENT AGREEMENT
PAGE 1

<PAGE>

                  Employee had executed a promissory note or other instrument
                  acknowledging the debt, bearing interest at a rate of 10% per
                  year from the date repayment is due, and payable in full on
                  demand without set-off or deduction.

         4.       SICK LEAVE AND DISABILITY. Employee will be entitled to sick
                  leave for the number of days determined by Company ("Sick
                  Leave"). Employee will be considered to be disabled during any
                  period in excess of Sick Leave during which Employee is unable
                  to work because of illness or incapacity ("Disability
                  Period").Employee will be entitled to receive Employee's full
                  salary during Sick Leave and will be deemed to be on leave,
                  without pay, during the Disability Period. If Employee is
                  unable to work for a period in excess of 90 days, Employee, at
                  the discretion of the Board of Directors of company, will be
                  considered to have resigned. In no event will Employee be
                  entitled to payment or other compensation for unused Sick
                  Leave or Disability Period, unless required by law or
                  otherwise provided in a policy or employment manual adopted by
                  Company.

         5.       RESIGNATION AND DISCHARGE. Employee may resign or be
                  discharged pursuant to the terms of this paragraph. If
                  Employee (i) resigns, Employee must give 30 days' notice to
                  Company; (ii) is discharged for cause (as later defined),
                  Company may discharge Employee immediately, without notice; or
                  (iii) is discharged not for cause from his responsibilities,
                  Company must give 30 days' notice to Employee. If Employee is
                  discharged not for cause, Employee will be paid severance pay
                  equal to six month's base pay in effect at the time of
                  termination payable in monthly installments.

                  For purposes of this paragraph, "for cause" means that during
                  the Employment Period, Employee, unless otherwise provided by
                  Company policy or Company employment manual, (a) is reasonably
                  believed by Company (i) to have failed to comply with any law,
                  regulation or policy, including without limitation securities
                  or employment or non-discrimination or similar laws,
                  regulations or policies, and that failure causes a significant
                  financial, regulatory, operational or public perception
                  detriment to Company, (ii) to abuse, as determined by the
                  Company, alcohol or to use drugs, (other than as prescribed by
                  Employee's physician), or (b) refuses to submit to testing for
                  alcohol or drugs, or (c) is reasonably believed by Company to
                  have committed or is charged with any felony or misdemeanor
                  involving moral turpitude, or (d) through willful neglect,
                  gross negligence, or malfeasance causes a significant
                  financial, regulatory, operational or public perception
                  detriment to Company. A determination by the Board of
                  Directors that Employee has

EMPLOYMENT AGREEMENT
PAGE 2

<PAGE>

                  failed to perform Employee's responsibilities to the
                  satisfaction of the Board of Directors, without one or more of
                  the other elements set out in this paragraph, is not "for
                  cause".

         6.       COMPETITION AND CONFIDENTIAL INFORMATION RESTRICTIONS.

                  A.       COMPETITION RESTRICTIONS. Employee may not during the
                           Employment Period, and for a period of two years
                           following the termination of the Employment Period,
                           anywhere in the United States, directly or
                           indirectly, own, manage, operate, invest in, control,
                           be employed by, participate in, be a financial
                           sponsor of, or be connected in any manner with the
                           ownership, management, operation or control of any
                           business that competes with a business conducted by
                           Company at any time during the Employment Period or
                           which Employee knows, during the Employment Period,
                           that Company intends to conduct. Employee
                           acknowledges that this restriction is necessary for
                           Company's welfare and protection in light of the
                           responsibilities assigned to Employee and Employee's
                           status in Company, that Employee is fully and
                           adequately compensated for this restriction.

                  B.       CONFIDENTIAL INFORMATION. Employee acknowledges and
                           recognizes that Employee is, or will be, employed by
                           Company in a confidential relationship and may
                           receive and have access to the confidential business
                           information, customer names, contracts and other
                           customer data, business methods, techniques and trade
                           secrets of Company ("Confidential Information").
                           Employee may develop ideas, conceptions, inventions,
                           processes, methods, products and improvements; and
                           Employee may receive disclosures of ideas,
                           conceptions, inventions, processes, methods, products
                           and improvements made by other employees of Company
                           ("Company Inventions"). Employee may participate with
                           Company in improving and developing Confidential
                           Information and Company Inventions. Confidential
                           Information and Company Inventions developed on
                           behalf of Company are neither commonly known nor
                           readily accessible to others and are used by Company
                           in its business to obtain a competitive advantage
                           over Company's competitors who do not know or use the
                           Confidential Information or Company Inventions.
                           Protection of the Confidential Information and
                           Company Inventions against unauthorized disclosure
                           and use is of critical importance to Company in
                           maintaining its competitive position. Employee agrees
                           that Employee will not, at any time, during or after
                           the Employment Period, make any independent use of,
                           or disclose to any other

EMPLOYMENT AGREEMENT
PAGE 3

<PAGE>

                           person or organization, except as authorized by
                           Company in writing, any Confidential Information or
                           Company Inventions. Upon termination of the
                           Employment Period for any reason, Employee shall
                           promptly deliver to Company all drawings, manuals,
                           letters, notes, notebooks, reports, customer lists,
                           customer data, mailing lists, and all other materials
                           and records of any kinds, and all copies thereof,
                           that may be in the possession of, or under the
                           control of, Employee pertaining to Company's business
                           including any that contain any Confidential
                           Information or Company Invention.

                  C.       BUSINESS RELATIONSHIPS. Employee acknowledges
                           Company's efforts to establish valuable business
                           relationships with its clients, customers and
                           suppliers. Employee recognizes that Company has
                           invested resources in the training and the
                           professional development of Employee, and Employee
                           further recognizes Employee's responsibility to the
                           Company when Company entrusts Employee with
                           Confidential Information. In view of Company's
                           efforts, Employee agrees that unless Company
                           authorizes Employee to do so in writing, Employee
                           will not, for a period of one year after termination
                           of employment with Company, solicit the purchase of
                           products or services directly competing with products
                           and services of Company from any person, corporation,
                           business organization or enterprise which: (i) has
                           made any purchase of products or services from
                           Company within the two years immediately preceding
                           termination of former Employee's employment
                           ("Customer"); or (ii) has been contacted by Employee
                           during the last 12 months of Employee's employment
                           for the purpose of securing the purchase of products
                           or services from Company ("Prospective Customer").

                  D.       NON-SOLICITATION OF EMPLOYEES. Employee is aware that
                           Company has a significant investment in its
                           employees. For a period of twelve months after
                           termination for any reason of Employee's employment,
                           neither Employee nor any person or entity by whom
                           Employee may be employed or of which Employee may be
                           an officer, director, partner, trustee or control
                           person, will directly or indirectly employ or solicit
                           to employ, or otherwise retain or solicit to retain,
                           any person employed by Company as of the date of
                           Employee's termination of employment or during the
                           twelve month period thereafter, unless that person
                           has been terminated by Company without cause (as
                           determined in good faith by Company) before the time
                           of the solicitation, employment or retention.

EMPLOYMENT AGREEMENT
PAGE 4

<PAGE>

                  E.       REMEDIES. Employee and Company recognize that
                           irreparable injury may result to Company in the event
                           of breach or threatened breach of this paragraph of
                           this Agreement by Employee. If Employee commits a
                           breach or threatens to commit a breach of any of the
                           provisions of this paragraph, Company shall have the
                           right and remedy, in addition to any others that may
                           be available, at law or in equity, to have the
                           provisions of this paragraph specifically enforced by
                           any court having equity jurisdiction, together with
                           an accounting therefor, Employee having specifically
                           acknowledged that any such breach or threatened
                           breach will cause irreparable injury to Company and
                           that money damages will not provide an adequate
                           remedy to Company.

         7.       INVALIDITY. If any provision of this Employment Agreement is
                  later construed to be unenforceable or invalid, the remaining
                  provisions shall not be affected but shall continue in full
                  effect. If any term of this Employment Agreement is found to
                  be unenforceable or invalid by any court having jurisdiction,
                  that court shall have the power to reduce or revise the term
                  and the paragraph(s) shall then be fully enforceable.

         8.       ASSIGNMENT. Employee acknowledges that Employee's services are
                  unique and personal. Accordingly, Employee may not assign
                  Employee's rights or delegate Employee's duties or obligations
                  under this Agreement. The Employer's rights and obligations
                  shall inure to the benefit of and shall be binding upon
                  Employer's successor and assigns.

         9.       PERSONNEL POLICIES. Company's written personnel policies apply
                  to all of Company's employees, including Employee, and
                  describe additional terms and conditions of employment of
                  Employee. Those terms and conditions, as Company may revise
                  from time to time, are incorporated by reference into this
                  Employment Agreement. Company reserves the right to revise the
                  personnel policies from time to time, as Company deems
                  necessary. If any personnel policy provision conflicts with a
                  provision of this Employment Agreement, the terms of this
                  Employment Agreement shall govern.

         10.      ALCOHOL AND DRUG TESTING. Employee agrees to comply with and
                  submit to any Company program or policy for testing for
                  alcohol abuse or use of drugs and, in the absence of such a
                  program or policy, to submit to such testing as may be
                  required by Company and administered in accordance with
                  applicable law and regulations.

         11.      BINDING EFFECT. This Employment Agreement constitutes the
                  entire understanding of the parties, may be modified only in
                  writing, is governed

EMPLOYMENT AGREEMENT
PAGE 5

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                  by laws of the state of New Mexico, and will bind and inure to
                  the benefit of Employee and Employee's personal representative
                  and Company and Company's successors and assigns.

EMPLOYMENT AGREEMENT
PAGE 6

<PAGE>
DATED:  May 15, 2002.

                                            COMPANY:

                                            SBS TECHNOLOGIES, INC.

                                    BY: /s/ CHRISTOPHER J. AMENSON
                                       ----------------------------------------
                                    ITS: CEO
                                        ---------------------------------------

                                            EMPLOYEE:

                                            /s/ DANIEL MOORE
                                            -----------------------------------
                                            DANIEL MOORE

EMPLOYMENT AGREEMENT
PAGE 7

<PAGE>

                                   APPENDIX A
                                       TO
                              EMPLOYMENT AGREEMENT

                                  DANIEL MOORE
                                    EMPLOYEE

POSITION: Executive Vice President, President of the Communications and
Enterprise Group and Member of the Executive Committee of the Company, reporting
directly to the Chief Operating Officer.

COMPENSATION: $225,000 base annual salary.

BENEFITS:

Standard Employee
Benefits:                      Medical insurance
                               Dental insurance
                               Life Insurance
                               Long and short-term disability insurance
                               Ten holidays per year
                               Sick leave

Optional Benefits:             401(k) Plan
                               Flexible Spending Account Program
                               Supplemental Life Insurance

All Standard and Optional Benefits will be as provided by Company to employees
generally, and are subject to modification from time to time by Company.

Additional Benefits:           Four weeks paid vacation per year
                               Immediate, full vesting under any employee plans
                               in effect at signing that require vesting

Stock Option Grant: Nonqualified stock options for 50,000 shares of common
stock, with exercise, termination and other terms as provided in an Option
Agreement ("Option Agreement") and the 1993 Director and Stock Option Plan under
which it is issued, including the following:

         The Options will vest in four installments, vesting as follows:

                  12,500            April 25, 2003
                  12,500            April 25, 2004
                  12,500            April 25, 2005
                  12,500            April 25, 2006

EMPLOYMENT AGREEMENT
PAGE 8

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All options granted as of this date which have not yet vested will vest
immediately prior to a change of control of the company. The Options will
terminate ten years from the date of grant, and the exercise price for the
options will be the Nasdaq closing price on April 25, 2002.

EMPLOYMENT AGREEMENT
PAGE 9<PAGE>
                                                                   EXHIBIT 10.bs

                 FOURTH MODIFICATION OF CREDIT AGREEMENT, NOTE,
                 GUARANTY AGREEMENTS AND RELATED LOAN DOCUMENTS

         THIS FOURTH MODIFICATION OF CREDIT AGREEMENT, NOTE, GUARANTY AGREEMENTS
AND RELATED LOAN DOCUMENTS (this "Modification Agreement") is entered into
effective as of June 30, 2002, by and between SBS TECHNOLOGIES, INC., a New
Mexico corporation ("Borrower"), BANK OF AMERICA, N.A., formerly NationsBank,
N.A., a national banking association ("Lender"), and the Subsidiaries of
Borrower listed as Guarantors on the signature pages hereof (the "Guarantors").

                                    RECITALS:

         WHEREAS, Borrower and Lender (under its prior name, NationsBank, N.A.)
have previously executed that certain Credit Agreement (as modified, amended and
supplemented from time to time, the "Credit Agreement") dated as of December 1,
1998, pursuant to which Lender has made available to Borrower a revolving credit
loan facility, which Credit Agreement has been amended by (i) that certain Note
Modification Agreement dated as of November 30, 1999, (ii) Modification of
Credit Agreement, Guaranty Agreements and Related Loan Documents dated as of
January 31, 2000 (the "First Modification"), (iii) Second Modification of Credit
Agreement, Guaranty Agreements and Related Loan Documents dated as of March 31,
2000 (the "Second Modification"), and (iv) Third Modification of Credit
Agreement, Guaranty Agreements and Related Loan Documents dated as of March 31,
2001 (the "Third Modification") (any capitalized term used but not otherwise
defined herein shall have the meaning set forth in the Credit Agreement); and

         WHEREAS, the indebtedness under the Credit Agreement is evidenced by
that certain Second Amended and Restated Revolving Promissory Note (the "Second
Restated Note") dated March 31, 2000, in the principal face amount of
$30,000,000.00, executed by Borrower and payable to the order of Lender, which
Second Restated Note amended and restated that certain Amended and Restated
Revolving Promissory Note dated January 31, 2000, in the principal face amount
of $25,000,000.00, which had amended and restated that certain Revolving
Promissory Note dated December 1, 1998, in the principal face amount of
$15,000,000.00, executed by Borrower and payable to the order of Lender; and

         WHEREAS, Lender, Borrower and the Guarantors have agreed to a reduction
in the revolving credit facility from $30,000,000 to $20,000,000, and certain
other modifications to the Credit Agreement, the Note, the Guaranty Agreements
and the other Loan Documents, subject to and upon the terms and conditions
hereof.

FOURTH MODIFICATION OF CREDIT AGREEMENT, NOTE,                            PAGE 1
GUARANTY AGREEMENTS AND RELATED LOAN DOCUMENTS                          303397v5
<PAGE>

                                   AGREEMENT:

         NOW, THEREFORE, KNOW ALL MEN BY THESE PRESENTS, that for and in
consideration of the terms, conditions and agreements contained herein and for
other good and valuable consideration, the receipt and sufficiency of which is
hereby acknowledged, Lender, Borrower and the Guarantors agree as follows:

         1. Reduction in Available Commitment. From and after the effective date
hereof, the maximum amount of the revolving credit facility under the Credit
Agreement shall be reduced and decreased from $30,000,000.00, to $20,000,000.00.
Accordingly, the definition of "Available Commitment" set forth in Section 1.1
of the Credit Agreement shall be amended to read in its entirety as follows:

                  "Available Commitment" means the maximum amount available to
         be advanced under the Credit Facility, being $15,000,000.00 as of the
         Closing Date through January 30, 2000; $25,000,000.00 as of January 31,
         2000 through March 30, 2000; $30,000,000.00 as of March 31, 2000
         through June 30, 2002; and $20,000,000.00 from and after June 30, 2002,
         subject to reduction as provided in Section 3.6(c)."

         2. Second Restated Note. Notwithstanding the principal face amount of
the Second Restated Note, from and after the date hereof, the maximum principal
available to be advanced thereunder shall be limited to $20,000,000.

         3. Guaranty Agreements. Each of the undersigned Guarantors expressly
acknowledges and agrees to the reduction in the Available Commitment to
$20,000,000, and agrees that its respective Guaranty Agreement, and all
indebtedness and obligations and agreements thereunder, are and shall remain in
full force and effect with respect to the reduced Available Commitment and all
amounts that may at any time be outstanding thereunder. Each Guarantor expressly
acknowledges and consents to the terms of this Modification Agreement and agrees
that pursuant to its respective Guaranty Agreement, such Guarantor continues to
guarantee the Second Restated Note and all of the Obligations under and as
defined in the Credit Agreement, as modified, hereby, jointly and severally with
all other Guarantors.

         4. Merger Transaction and Name Change. Borrower represents to Lender
that SBS Technologies, Inc., Modular I/O, f/k/a SBS Greenspring Modular I/O,
Inc. ("SBS Modular"), was merged into SBS Technologies, Inc., Connectivity
Products, f/k/a SBS Bit 3 Operations, Inc. ("SBS Connectivity"), with SBS
Connectivity being the surviving corporation, as evidenced by the Articles of
Merger and Plan of Merger dated April 9, 2002, as filed with the Secretary of
State of Minnesota and effective May 8, 2002 (the "Merger Documents"); and
Lender acknowledges and consents to such merger. Accordingly, SBS Modular is no
longer in existence as a separate corporation and is no longer a Guarantor;
provided, however, that all assets of SBS Modular shall continue to be covered
by and subject to the Security Agreement, and pledged as security for the
Obligations pursuant thereto, as assets of SBS Connectivity as a result of such
merger, and all obligations of SBS Modular under its Guaranty Agreement are now
obligations of SBS Connectivity (n/k/a SBS Commercial as set forth in Paragraph
5 below).

FOURTH MODIFICATION OF CREDIT AGREEMENT, NOTE,                            PAGE 2
GUARANTY AGREEMENTS AND RELATED LOAN DOCUMENTS                          303397v5
<PAGE>

         5. Guarantor Names. Effective upon the filing of the Merger Documents,
the name of SBS Connectivity as stated in the Credit Agreement has changed to
SBS Technologies, Inc., Commercial Group. In addition, the name of SBS
Technologies, Inc., Embedded Computers, f/k/a SBS Embedded Computers, Inc.
("Embedded Computers"), has changed to SBS Technologies, Inc., Government Group,
as evidenced by the Articles of Amendment of such corporation filed with the New
Mexico Public Regulation Commission on June 4, 2002. Accordingly, the following
definitions are hereby added to Section 1.1 of the Credit Agreement in
alphabetical order:

                  "Commercial Group" means SBS Technologies, Inc., Commercial
         Group, f/k/a SBS Technologies, Inc., Connectivity Products, f/k/a SBS
         Bit 3 Operations, Inc., a Minnesota corporation, and which corporation
         is the successor by merger of SBS Technologies, Inc., Modular I/O,
         formerly SBS GreenSpring Modular I/O; and all references in the Credit
         Agreement, the Guaranty Agreements and other Loan Documents to the
         corporate names of any such corporations, in their capacities as a
         Guarantor or otherwise, shall from and after the date hereof be deemed
         to refer to such newly named successor corporation.

                  "Government Group" means SBS Technologies Inc., Government
         Group, f/k/a SBS Technologies, Inc., Embedded Computers, f/k/a SBS
         Embedded Computers, Inc., a New Mexico corporation; and all references
         in the Credit Agreement, the Guaranty Agreements and other Loan
         Documents to the corporate name of such corporation in its capacity as
         a Guarantor or otherwise, shall from and after the date hereof be
         deemed to refer to such corporation under its new name.

         6. Changes and Additions to Negative Covenants. Various covenants, and
related definitions, under Article VI of the Credit Agreement entitled "Negative
Covenants", shall be amended as follows:

         (a) Permitted Acquisitions. The amount available under the revolving
credit facility that may be used for Permitted Acquisitions shall be reduced
from $10,000,000 to $5,000,000. In connection therewith, the definition of
"Permitted Acquisition" in Section 1.1 of the Credit Agreement is hereby amended
in its entirety to read as follows:

                  "Permitted Acquisition" means (a) an Acquisition in which (i)
         the Acquisition Consideration therefor is less than $5,000,000, (ii)
         after giving effect to such Acquisition, the aggregate Acquisition
         Consideration for all Acquisitions during the Credit Period, together
         with the aggregate Minority Investment Consideration for all Minority
         Investments made during the Credit Period, is less than $5,000,000,
         (iii) as of the Acquisition Date for such Acquisition the aggregate
         amount outstanding under the Credit Facility is less than $5,000,000,
         and (iv) all of the requirements set forth in Section 6.7 have been
         satisfied with respect to such Acquisition, or (b) an Acquisition for
         which the requirements of Section 6.7 have been satisfied (unless
         waived by Lender) and that has been specifically approved in writing by
         Lender prior to the Acquisition Date therefor.

FOURTH MODIFICATION OF CREDIT AGREEMENT, NOTE,                            PAGE 3
GUARANTY AGREEMENTS AND RELATED LOAN DOCUMENTS                          303397v5
<PAGE>

         (b) Senior Funded Debt To EBITDA Ratio. The manner in which the Senior
Funded Debt to EBITDA Ratio is calculated shall be changed for the balance of
the Credit Period. In connection therewith, Section 6.8 of the Credit Agreement
is hereby amended in its entirety to read as follows:

                  SECTION 6.8. Senior Funded Debt To EBITDA Ratio. Borrower
         shall not permit the Senior Funded Debt To EBITDA Ratio to be more than
         1.25 to 1.00, as determined in the following manner:

                           (a) For the fiscal quarter of Borrower ending March
                  31, 2002, the Senior Funded Debt To EBITDA Ratio shall be
                  determined on the last day of such fiscal quarter of Borrower
                  for the immediately preceding four (4) consecutive fiscal
                  quarters of Borrower, with such ratio being calculated without
                  deduction from EBITDA for the non-recurring charge in the
                  approximate amount of $13,428,000 taken by Borrower during the
                  quarter ending December 31, 2001; and

                           (b) Beginning with the fiscal quarter of Borrower
                  ending June 30, 2002, and for the balance of the Credit
                  Period, the Senior Funded Debt To EBITDA Ratio shall be
                  determined on the last day of each successive fiscal quarter
                  of Borrower on an annualized basis by multiplying EBITDA for
                  the most recent two fiscal quarters by two (2), with such
                  ratio being calculated without deduction for the non-recurring
                  charge (for severances) in the approximate amount of
                  $2,700,000 taken by Borrower during the quarter ending June
                  30, 2002.

         (c) Cash Flow Coverage Ratio. Section 6.9 of the Credit Agreement,
providing for a Fixed Charge Coverage Ratio, is hereby waived and shall not
apply for the balance of the Credit Period, and a cash flow coverage ratio shall
be implemented in its stead. In connection therewith, Section 6.9 of the Credit
Agreement is amended to read as follows for the quarters ending June 30,
September 30 and December 31 of 2002, after which the Fixed Charge Covenant
Ratio shall again apply as set forth in the Credit Agreement without regard to
this Modification Agreement:

                  SECTION 6.9. Cash Flow Coverage Ratio. For the fiscal quarters
         of Borrower ending June 30, September 30 and December 31, 2002,
         Borrower shall not permit the Cash Flow Coverage Ratio to be less than
         1.50 to 1.00, as determined on the last day of each such fiscal quarter
         of Borrower.

For purposes of this interim covenant in Section 6.9 of the Credit Agreement,
the following definition of "Cash Flow Coverage Ratio" shall be added in
alphabetical order to Section 1.1 of the Credit Agreement:

                  "Cash Flow Coverage Ratio" means, for any date of
         determination, the ratio of (a) the sum of (i) EBITDA plus (ii)
         Operating Lease Expense, to (b) the sum of (i) Interest Expense plus
         (ii) Operating Lease Expense, with EBITDA being calculated on an
         annualized basis by multiplying EBITDA for the immediately preceding
         two (2) fiscal

FOURTH MODIFICATION OF CREDIT AGREEMENT, NOTE,                            PAGE 4
GUARANTY AGREEMENTS AND RELATED LOAN DOCUMENTS                          303397v5
<PAGE>

         quarters of Borrower by two (2), and with Operating Lease Expense and
         Interest Expense being calculated for the immediately preceding four
         (4) fiscal quarters of Borrower.

The calculation of EBITDA provided in Sections 6(b) and 6(c) above shall control
over any inconsistency in the definition of EBITDA in the Credit Agreement for
the applicable periods.

         (d) Tangible Net Worth. Borrower and Lender have agreed to modify
Tangible Net Worth and the manner in which it is calculated. In connection
therewith, Section 6.10 of the Credit Agreement is hereby amended in its
entirety from and after the effective date hereof to read as follows:

                  "SECTION 6.10. Tangible Net Worth. Borrower shall not permit
         Tangible Net Worth at any time to be less than the sum of (a)
         Seventy-Eight Million and No/100 Dollars ($78,000,000.00), plus (b)
         seventy-five percent (75%) of the cumulative consolidated net income of
         Borrower for each calendar quarter commencing on April 1, 2002, through
         the quarter ending immediately prior to, or on, the date as of which
         compliance with this covenant is being measured, plus (c) seventy-five
         percent (75%) of the amount of any proceeds (less reasonable and
         customary transaction costs) received by Borrower from the issuance of
         any additional shares of stock or other equity instruments."

         (e) Minimum Liquidity. Borrower and Lender have agreed to add a
covenant providing requirements for Minimum Liquidity of Borrower. Accordingly,
Section 6.16 is hereby added to the Credit Agreement to read as follows:

                  "SECTION 6.16. Minimum Liquidity. Borrower shall not, at any
         time, permit its aggregate unencumbered and unrestricted Liquid Assets
         to be less than $10,000,000. "Liquid Assets" means, as of any date, the
         aggregate amount of Borrower's (a) cash and obligations issued or
         guaranteed by the United States of America, (b) obligations issued or
         guaranteed by any person controlled or supervised by and acting as an
         agency or instrumentality of the United States of America pursuant to
         authority granted by the Congress of the United States, (c)
         certificates of deposit issued, or banker's acceptances drawn on and
         accepted by, or money market accounts or time deposits in, commercial
         banks which are members of the Federal Deposit Insurance Corporation
         and which have a combined capital, surplus and undistributed profits of
         at least $50,000,000, (d) repurchase agreements with any such
         commercial bank, or with broker-dealers or other institutions, that are
         secured by obligations issued or guaranteed by the United States of
         America or an agency or instrumentality thereof, (e) other money market
         instruments and mutual funds, substantially all of the assets of which
         are invested in any or all of the investments described in clauses (a)
         through (d) above, and (f) commercial paper rated P-1 by Moody's
         Investors Service, Inc. or A11 by Standard & Poor's Corporation on the
         date of acquisition (the value of which shall be determined in
         accordance with generally accepted accounting principles)."

FOURTH MODIFICATION OF CREDIT AGREEMENT, NOTE,                            PAGE 5
GUARANTY AGREEMENTS AND RELATED LOAN DOCUMENTS                          303397v5
<PAGE>

         7. Modification Fee. In consideration of the modification of the Credit
Facility and the Credit Agreement as set forth herein, Borrower shall pay to
Lender a facility fee in the amount of Twenty Thousand and No/100 Dollars
($20,000.00).

         8. Definition of Documents. All references to the Credit Agreement
therein and in the other Loan Documents shall mean the Credit Agreement as
amended hereby. The definition of "Loan Documents", as defined in and as used in
the Credit Agreement, each Guaranty Agreement and all other Loan Documents,
shall be, and is hereby, modified to include this Modification Agreement and any
and all documents executed in connection herewith.

         9. Conditions Precedent to this Modification Agreement. As conditions
precedent to this Modification Agreement and the agreements herein and
modifications to the Credit Agreement pursuant hereto, except with respect to
Section 9(d) below, which shall be a condition subsequent, all of the following
shall have been satisfied:

         (a) Borrower and the Guarantors shall have executed and delivered to
Lender this Modification Agreement;

         (b) Borrower shall have delivered, or cause to be delivered, to Lender
all corporate resolutions, consents, certificates or documents as Lender may
request relating to the corporate authority for the execution, enforceability
and validity of this Modification Agreement, together with all other documents,
instruments and agreements and any other matters relevant hereto or thereto, all
in form and content satisfactory to Lender;

         (c) Borrower shall have delivered, or cause to be delivered, to Lender
final, and if applicable, fixed and/or certified copies of any and all
applicable certificates or documents as Lender may request that may be issued by
the Minnesota Secretary of State evidencing (i) the receipt, filing and
effectiveness of the Merger Documents and (ii) the change in name of SBS
Connectivity to SBS Technologies, Inc., Commercial Group; and

         (d) Within 60 days after the date of this Modification Agreement,
Borrower shall have delivered, or cause to be delivered, to Lender final, and if
applicable, fixed and/or certified copies of any and all applicable certificates
or documents as Lender may request that may be issued by the California
Secretary of State evidencing (i) the termination of corporate existence of SBS
Modular in California and (ii) the qualification, authority and good standing of
Commercial Group to transact business within the State of California; and

         (e) Borrower shall have delivered, or cause to be delivered, to Lender
any and all applicable certificates or documents as Lender may request that may
be issued by the New Mexico Public Regulation Commission evidencing the change
in name of Embedded Computers to SBS Technologies, Inc., Government Group; and

         (f) Borrower shall have paid to Lender the $20,000.00 modification fee
and any other fees as agreed in connection with this Modification Agreement; and

         (g) No Default or Event of Default shall exist.

FOURTH MODIFICATION OF CREDIT AGREEMENT, NOTE,                            PAGE 6
GUARANTY AGREEMENTS AND RELATED LOAN DOCUMENTS                          303397v5
<PAGE>

         10. Reaffirmation of Obligations. Borrower and the Guarantors
acknowledge and agree that they are well and truly indebted to Lender pursuant
to the Credit Agreement, the respective Guaranty Agreements, the Second Restated
Note and the other Loan Documents, as modified hereby. Except as expressly
modified hereby, all terms, provisions, representations, warranties, covenants
and agreements of Borrower and each Guarantor contained in the Credit Agreement,
each Guaranty Agreement, and the other Loan Documents shall remain unchanged and
are hereby ratified and confirmed by Borrower and the Guarantors, and all such
agreements shall be and shall remain in full force and effect, enforceable in
accordance with their terms.

         11. No Implied Waivers. None of the amendments or modifications
provided for herein shall be deemed a consent to or waiver of any breach of the
same or any other covenant, condition or duty. Borrower and the Guarantors
acknowledge and understand that Lender has no obligation to further amend or
modify the Credit Agreement, the Note, the Second Restated Note or any of the
other Loan Documents, or any of the terms, provisions or covenants thereof, and
that Lender has made no representations regarding any such amendments or
modifications. No failure or delay on the part of Lender in exercising, and no
course of dealing with respect to, any right, power or privilege under this
Modification Agreement, the Credit Agreement, the Guaranty Agreements, or any
other Loan Document shall operate as a waiver thereof or of the exercise of any
other right, power or privilege.

         12. Representations and Warranties. Borrower hereby represents and
warrants to Lender that (a) the execution, delivery, and performance by the
Borrower and the Guarantors of this Modification Agreement and compliance with
the terms and provisions hereof (i) have been duly authorized by all requisite
action on the part of each such Person and (ii) do not, and will not violate or
conflict with, or result in a breach of, or require any consent under (A) the
articles of incorporation, certificate of incorporation, bylaws, partnership
agreement or other organizational documents of any such Person, (B) any
applicable law, rule, or regulation or any order, writ, injunction, or decree of
any Tribunal or arbitrator, or (C) any material agreement or instrument to which
any such Person is a party or by which any of them or any of their property is
bound or subject; (b) the signatories below have been duly authorized by all
necessary corporate action to make and enter into this Modification Agreement as
the duly authorized action and deed of Borrower and each of the Guarantors; (c)
the representations and warranties contained in the Credit Agreement, as amended
hereby, and the other Loan Documents are true and correct in all material
respects on and as of the date hereof as though made on and as of the date
hereof; and (d) upon execution and effectiveness hereof, no Default or Event of
Default has occurred and is continuing.

         13. Ratification. Except as otherwise expressly modified by this
Modification Agreement, all terms and provisions of the Credit Agreement, the
Second Restated Note, the Guaranty Agreements and the other Loan Documents shall
remain unchanged and are ratified and confirmed and shall be and shall remain in
full force and effect, enforceable in accordance with their terms.

         14. Further Assurances. Borrower shall execute and deliver to Lender
such other documents as may be necessary or as may be required, in the opinion
of Lender and/or counsel to Lender to effect the transactions contemplated
hereby and to create and evidence the rights and remedies of the Lender under
the Loan Documents.

FOURTH MODIFICATION OF CREDIT AGREEMENT, NOTE,                            PAGE 7
GUARANTY AGREEMENTS AND RELATED LOAN DOCUMENTS                          303397v5
<PAGE>

         15. Inconsistent Provisions. This Modification Agreement shall control
in the case of any inconsistency between the terms and provisions hereof and
those contained in the other Loan Documents.

         16. Binding Agreement. This Modification Agreement shall be binding
upon, and shall inure to the benefit of, the parties hereto and their respective
legal representatives, successors and assigns.

         17. GOVERNING LAW. THIS MODIFICATION AGREEMENT SHALL BE CONSTRUED IN
ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW MEXICO, EXCEPT TO
THE EXTENT THAT UNITED STATES FEDERAL LAW APPLIES.

         18. Counterparts; Telecopies. This Modification Agreement may be
executed in multiple counterparts, each of which shall be deemed an original for
all purposes, and all of which, collectively, shall constitute one agreement. In
addition, due execution of this Modification Agreement by any party may be
evidenced by a telecopy reflecting such party's signature. Any party to this
Modification Agreement shall be entitled to receive upon request, from any other
party that has previously forwarded an executed counterpart of any such document
by telecopy, a duplicate of such document bearing such other party's ink
original signature.

         19. Entire Agreement. This Modification Agreement, the Credit
Agreement, the Third Restated Note and the Guaranty Agreements, together with
the other Loan Documents, contain the entire agreement between the parties
relating to the subject matter hereof and thereof.

         THIS MODIFICATION AGREEMENT, TOGETHER WITH THE CREDIT 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 ORAL
AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE
PARTIES.

FOURTH MODIFICATION OF CREDIT AGREEMENT, NOTE,                            PAGE 8
GUARANTY AGREEMENTS AND RELATED LOAN DOCUMENTS                          303397v5
<PAGE>

         IN WITNESS WHEREOF, this Modification Agreement is executed effective
as of the date first above written.

                            BORROWER:

                            SBS TECHNOLOGIES, INC., a New Mexico corporation

                            /s/  James E. Dixon, Jr.
                            ----------------------------------------------------
                            Vice President, Finance and Administration

                            LENDER:

                            BANK OF AMERICA, N.A.,
                             a national banking association

                            By: /s/ Norman Butler
                              --------------------------------------------------
                            Name: Norman Butler
                                  ----------------------------------------------
                            Title: Senior Vice President
                                   ---------------------------------------------

                            GUARANTORS:

                            SBS TECHNOLOGIES, INC., COMMERCIAL GROUP, f/k/a SBS
                            Technologies, Inc., Connectivity Products, f/k/a SBS
                            Bit 3 Operations, Inc., a Minnesota corporation and
                            successor by merger to SBS Technologies, Inc.,
                            Modular I/O, a California corporation

                            /s/ James E. Dixon, Jr.
                            ----------------------------------------------------
                                Treasurer

FOURTH MODIFICATION OF CREDIT AGREEMENT, NOTE,                            PAGE 9
GUARANTY AGREEMENTS AND RELATED LOAN DOCUMENTS                          303397v5
<PAGE>

                            SBS TECHNOLOGIES, INC., GOVERNMENT GROUP, f/k/a SBS
                            Technologies, Inc., Embedded Computers, f/k/a SBS
                            Embedded Computers, Inc., a New Mexico corporation

                            /s/ James E. Dixon, Jr.
                            ----------------------------------------------------
                                Treasurer

                            SBS TECHNOLOGIES INC., INDUSTRIAL COMPUTERS, f/k/a
                            SBS Micro Alliance, Inc.

                            /s/ James E. Dixon, Jr.
                            ----------------------------------------------------
                                Treasurer

                            SBS TECHNOLOGIES INC., COMMUNICATIONS PRODUCTS,
                            f/k/a VI Computer

                            /s/ James E. Dixon, Jr.
                            ----------------------------------------------------
                                Treasurer

                            SDL COMMUNICATIONS, INC.

                            /s/ James E. Dixon, Jr.
                            ----------------------------------------------------
                                Treasurer

FOURTH MODIFICATION OF CREDIT AGREEMENT, NOTE,                           PAGE 10
GUARANTY AGREEMENTS AND RELATED LOAN DOCUMENTS                          303397v5

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