Document:

ex104051208.htm

    Exhibit 10.4

    
 

    SECOND AMENDMENT TO AMENDED
AND RESTATED CREDIT AGREEMENT

     

    THIS
SECOND AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT (this “Amendment”) dated as
of April 28, 2008 is among HEARTLAND FINANCIAL USA, INC., a corporation
formed under the laws of the State of Delaware (the “Borrower”), each of
the banks party hereto (individually, a “Bank” and collectively, the “Banks”) and THE
NORTHERN TRUST COMPANY, as agent for the Banks (in such capacity, together with
its successors in such capacity, the “Agent”).

     

    WHEREAS,
the Borrower, the Agent and the Banks have entered into an Amended and Restated
Credit Agreement dated as of June 8, 2007 (as hereto amended, the “Credit Agreement”);
and

     

    WHEREAS,
the Borrower, the Agent and the Banks wish to make certain amendments to the
Credit Agreement;

     

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

     

    1. Definitions.  Terms
defined in the Credit Agreement and not otherwise defined herein shall have the
respective meanings given to them in the Credit Agreement and terms defined in
the introductory paragraphs or other provisions of this Amendment shall have the
respective meanings attributed to them therein.  In addition, the
following terms shall have the following meanings (terms defined in the singular
having a correlative meaning when used in the plural and vice
versa):

     

    “Effective Date” shall mean April 28,
2008, if (i) this Amendment shall have been executed and delivered by the
Borrower, the Agent and the Banks and (ii) the Borrower shall have
performed its obligations under Section 3
hereof.

     

    2. Amendment.

     

    (a) Section 1.5(a)
of the Credit Agreement is hereby amended to state in its entirety as
follows:

     

    “(a)           The
Borrower promises to pay to the Agent for the account of each Bank interest on
the unpaid principal amount of each Loan made by such Bank for the period from
and including the date of such Loan to, but excluding, the date such Loan shall
be paid in full, (i) while such Loan is a Prime Rate Loan, for each day at a
rate per annum equal to the Prime Rate as in effect on such day minus 0.85%;
(ii) while such Loan is a Eurodollar Loan, for each Interest Period relating
thereto, at a rate per annum equal to the LIBOR Rate for such Loan for such
Interest Period plus 1.30%; and (iii) while such Loan is a Fed Funds Rate Loan
for each day, at a rate per annum equal to the Fed Funds Rate as in effect on
such day plus 1.30%.

     

    (b) Section 7.5(a)(ix) of
the Credit Agreement is hereby amended by the deletion of the number
“$3,500,000” and the substitution of the number “$4,000,000”
therefor.

     

    (c) The
definition of “Revolving Credit Termination Date” in Section 9.1 of
the Credit Agreement is hereby amended to state in its entirety as
follows:

     

    “Revolving Credit Commitment
Termination Date” shall mean April 27, 2009, as such date may be
extended pursuant to Section 1.10.

     

    (d) Schedule
1 of the Credit Agreement is hereby amended to state as set forth in
Schedule 1 of this Amendment.

     

    3. Conditions to Effective
Date.  The occurrence of the Effective Date shall be subject to
the satisfaction of the following conditions precedent:

     

    (a) The
Borrower, the Agent and the Banks shall have executed and delivered this
Amendment.

     

    (b) No
Default shall have occurred and be continuing under the Credit Agreement, and
the representations and warranties of the Borrower in Section 6 of the
Credit Agreement and in Section 6 hereof
shall be true and correct on and as of the Effective Date and the Borrower shall
have provided to the Agent a certificate of a senior officer of the Borrower to
that effect.

     

    (c) The
Borrower shall have delivered a Note to U.S. Bank National Association in the
amount of its Commitment as revised pursuant to this Amendment.

     

    (d) The
Guarantor shall acknowledge and consent to this Amendment for purposes of its
Guaranty Agreement as evidenced by its signed acknowledgment of this Amendment
on the signature page hereof.

     

    (e) The
Borrower shall have delivered to the Agent, on behalf of the Banks, such other
documents as the Agent may reasonably request.

     

    4. Effective Date
Notice.  Promptly following the occurrence of the Effective
Date, the Agent shall give notice to the parties of the occurrence of the
Effective Date, which notice shall be conclusive, and the parties may rely
thereon; provided, that such notice shall not waive or otherwise limit any right
or remedy of the Agent or the Banks arising out of any failure of any condition
precedent set forth in Section 3 to be
satisfied.

     

    5. Ratification.  The
parties agree that the Credit Agreement, as amended hereby, and the notes have
not lapsed or terminated, are in full force and effect, and are and from and
after the Effective Date shall remain binding in accordance with their
terms.

     

    6. Representations and
Warranties.  The Borrower represents and warrants to the Agent
and the Banks that:

     

    (a) No
Breach.  The execution, delivery and performance of this
Amendment will not conflict with or result in a breach of, or cause the creation
of a Lien or require any consent under, the articles of incorporation or bylaws
of the Borrower, or any applicable law or regulation, or any order, injunction
or decree of any court or governmental authority or agency, or any agreement or
instrument to which the Borrower is a party or by which it or its property is
bound.

     

    (b) Power and Action, Binding
Effect.  The Borrower has been duly incorporated and is validly
existing as a corporation under the laws of the State of Delaware and has all
necessary power and authority to execute, deliver and perform its obligations
under this Amendment and the Credit Agreement, as amended by this Amendment; the
execution, delivery and performance by the Borrower of this Amendment and the
Credit Agreement, as amended by this Amendment, have been duly authorized by all
necessary action on its part; and this Amendment and the Credit Agreement, as
amended by this Amendment, have been duly and validly executed and delivered by
the Borrower and constitute legal, valid and binding obligations, enforceable in
accordance with their respective terms.

     

    (c) Approvals.  No
authorizations, approvals or consents of, and no filings or registrations with,
any governmental or regulatory authority or agency or any other person are
necessary for the execution, delivery or performance by the Borrower of this
Amendment or the Credit Agreement, as amended by this Amendment, or for the
validity or enforceability thereof.

     

    7. Successors and
Assigns.  This Amendment shall be binding upon and inure to the
benefit of the Borrower, the Agent and the Banks and their respective successors
and assigns, except that the Borrower may not transfer or assign any of its
rights or interest hereunder.

     

    8. Governing
Law.  This Amendment shall be governed by, and construed and
interpreted in accordance with, the internal laws of the State of
Illinois.

     

    9. Counterparts.  This
Amendment may be executed in any number of counterparts and each party hereto
may execute any one or more of such counterparts, all of which shall constitute
one and the same instrument.  Delivery of an executed counterpart of a
signature page to this Amendment by telecopy shall be as effective as delivery
of a manually executed counterpart of this amendment.

     

    10. Expenses.  Whether
or not the effective date shall occur, without limiting the obligations of the
Borrower under the Credit Agreement, the Borrower agrees to pay, or to reimburse
on demand, all reasonable costs and expenses incurred by the Agent in connection
with the negotiation, preparation, execution, delivery, modification, amendment
or enforcement of this Amendment, the Credit Agreement and the other agreements,
documents and instruments referred to herein, including the reasonable fees and
expenses of Mayer Brown LLP, special counsel to the Agent, and any other counsel
engaged by the Agent.

     

    [Signature
Page Follows]

     

    
       

       

    

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

    HEARTLAND
FINANCIAL USA, INC.

     

    By:   /s/ John K.
Schmidt_

    Name:   John
K. Schmidt

    Title:     EVP,
COO & CFO

     

    

     

    THE
NORTHERN TRUST COMPANY,

    as
Agent

     

    By:  /s/ Lisa
McDermott_

    Name:  Lisa
McDermott

    Title:    Vice
President

     

    

     

    BANKS:

     

    THE
NORTHERN TRUST COMPANY

     

    By:  /s/ Lisa
McDermott_

    Name:  Lisa
McDermott

    Title:    Vice
President

    

    

    U.S.
BANK NATIONAL ASSOCIATION

    By:  /s/ Noel W.
Licht_

    Name:  Noel
W. Licht

    Title:    Assistant
Vice President

    

    GUARANTOR
ACKNOWLEDGMENT

     

    

     

    The
undersigned Guarantor hereby acknowledges and consents to the Borrower’s
execution of this Amendment.

     

    CITIZENS
FINANCE CO.

     

    By:  /s/ John K.
Schmidt_

     

    Title:
EVP, COO &
CFO

     

     

    Schedule
1

     

    INFORMATION CONCERNING
BANKS

     

    

    
      	
              Name of Bank

            	
              Commitment

            	
              Applicable

              Lending Offices

            
	 
      	 
      	 
      
	
              The
      Northern Trust Company

            	
              $20,000,000

            	
              For
      all Loans:

              50
      South LaSalle Street

              Chicago,
      Illinois  60675

               

            
	
              U.S.
      Bank National Association

            	
              $20,000,000

            	
              For
      all Loans:

              222nd
      Avenue

              Cedar
      Rapids, Iowa  52401

               

            
	
              Total
      Commitments

            	
              $40,000,000c53500_ex10-1.htm -- Converted by SEC Publisher, created by BCL Technologies Inc., for SEC Filing

EXHIBIT 10.1

CONFIDENTIAL TREATMENT REQUESTED BY ZYGO CORPORATION FOR 

CERTAIN PORTIONS OF THIS AGREEMENT IN ACCORDANCE WITH RULE 24B-2

UNDER THE SECURITIES EXCHANGE ACT OF 1934 

ZYGO CORPORATION 

RESTRICTED STOCK UNIT AGREEMENT

          AGREEMENT, made as of the 31st day of January, 2008 (the “Grant Date”) by and between ZYGO CORPORATION, a Delaware corporation
(the “Company”), and J. BRUCE ROBINSON (the “Participant”). 

W I T N
E S S E
T H:

          WHEREAS, pursuant to the Zygo Corporation 2002 Equity Incentive Plan (the “Plan”), the Company desires to grant the Participant, and the Participant desires to accept, an award of Restricted
Stock Units on the terms and conditions set forth in this Agreement and the Plan. 

          NOW, THEREFORE, the parties hereto agree as follows:

          1.       Grant. Subject to the conditions contained herein, the Company hereby grants to the Participant 85,000
restricted stock units (“RSUs”). Each RSU represents the right to receive one share of the Company’s common stock, $.10 par value per share (the “Common Stock”).

          2.       Vesting of RSUs. 

                  (a)       General. Except as otherwise specified herein or as otherwise determined by the Company’s Board of
Directors (the “Board”), the Participant’s right to receive the shares of Common Stock represented by the RSUs shall become vested (if at all) in accordance with the vesting schedule attached hereto. 

                  (b)     Termination of Employment. Except as otherwise specified in the vesting schedule attached hereto or
subsection (c) of this Section 2 or otherwise determined by the Board, upon the termination of the Participant’s employment or other service with the Company and its subsidiaries, the Participant’s right to receive the shares of Common
Stock represented by any unvested RSUs will thereupon terminate and be canceled. 

                  (c)       Accelerated Vesting. In the event of a “Change in Control” (as defined in the Plan), this award
shall vest solely on basis of time and will otherwise be governed by the terms of the Plan. 

          3.       Delivery of Shares.

                  (a)     General. If and as soon as practicable after the Participant’s right to receive shares of Common
Stock represented by RSUs becomes vested in accordance with numbered paragraph 2 above, the Company will cause such shares to be issued to the Participant (or the Participant’s representative or beneficiary, as the case may be). 

                  (b)       Tax Withholding. As a condition to the issuance of shares of Common Stock under this Agreement or in
connection with any other event that gives rise to a federal or other governmental tax withholding obligation on the part of the Company relating to the vesting or settlement of the RSUs, the Company may (1) deduct or withhold (or cause to be
deducted or withheld) from any payment or distribution to the Participant whether or not pursuant to the Plan, or (2) require the Participant to remit cash (through payroll deduction or otherwise), in each case, in an amount sufficient in the
opinion of the Company to satisfy such withholding obligation. Subject to applicable law, the Company, acting in its sole discretion, may satisfy such tax withholding obligation in whole or in part by withholding shares of Common Stock that would
otherwise be issued to the Participant (or the Participant’s representative or beneficiary) based upon the then fair market value of the shares. 

          4.       Rights as a Stockholder. The Participant shall have no voting or other rights of a shareholder with respect
to shares of Common Stock represented by RSUs outstanding under this Agreement unless and until such shares are issued to the Participant in accordance with the provisions hereof.

          5.       No Employment Rights. Nothing contained in the Plan or this Agreement shall confer upon the Participant any
right with respect to the continuation of the Participant’s employment with the Company or its subsidiaries or interfere in any way with the right of the Company and its subsidiaries at any time to terminate such employment or to increase or
decrease, or otherwise adjust, the other terms and conditions of the Participant’s employment. 

          6.       Provisions of the Plan Control. The provisions of the Plan, the terms of which are incorporated in this
Agreement, shall govern if and to the extent that there are inconsistencies between those provisions and the provisions hereof. The Participant acknowledges receipt of a copy of the Plan prior to the execution of this Agreement. 

          7.       Governing Law.  This Agreement shall be governed by and construed in accordance with the laws of the State
of Delaware, without regard to its principles of conflict of laws. 

          8.     Miscellaneous. This Agreement shall be binding upon and shall inure to the benefit of the parties hereto
and their respective successors and permitted assigns. This Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof and may not be modified other than by written instrument executed by the parties.

          IN WITNESS WHEREOF, this Agreement has been executed as of the Grant Date.

	 	
      ZYGO CORPORATION	
	 	 	 
	 	By: 	
 /s/ Walter A. Shephard	
	 	
    Name: Walter A. Shephard	
	 	
Title: Vice
President, Finance, Chief Financial 
	 	
      Officer, and Treasurer	
	 	 	 	
	 	
    /s/ Bruce Robinson	
	 	
    J. Bruce Robinson, Participant	

- 2 -

EXHIBIT A 

Certain Definitions

          For purposes of this Agreement, the following terms shall have the following meanings:

          “Cause” shall mean: (i) in the case where there is no employment agreement between the Participant and the Company in effect on the
date hereof that defines “cause” (or words of like import), a termination classified by the Company, in its sole discretion, as a termination due to the Participant’s dishonesty, fraud, insubordination, willful misconduct, refusal to
perform services or materially unsatisfactory performance of duties; or (ii) in the case where there is an employment agreement between the Participant and the Company in effect on the date hereof that defines “cause” (or words of like
import), a termination that is or would be deemed for “cause” (or words of like import) as classified by the Company, in its sole discretion, under such agreement. 

          “Disability” shall mean “total and permanent disability” (within the meaning of Section 22(e)(3) of the Internal Revenue Code of 1986, as amended).

           “Pro-Rata Portion” shall mean the number of shares of Common Stock (with fractional shares being rounded up or down to the nearest
whole share) determined, as of the date of termination of the Participant’s employment with the Company, by subtracting B from
A, where: 

A is the total number of shares of Common Stock covered by the RSUs awarded pursuant to Section 1 hereof multiplied by a fraction, the numerator of which is the number of full months of
  employment with the Company completed by the Participant following the date hereof, and the denominator of which is the total number of months of the full vesting period set forth in the Letter of Notification; and 

B is the total number of shares of Common Stock which have previously become vested pursuant to Section 2(a) hereof. 

           The Zygo Compensation Committee has made an award of 85,000 Restricted Stock Units to CEO Bruce Robinson that will vest according to the following timetable with completion of the associated performance metrics: 

[***], 2008 – 42,500 shares will vest if all of the following objectives have been accomplished: 

	          	
•		 		
[***]	
	 	•	 		
[***]	
	 	•	 		
[***]	

[***], 2009 – 42,500 shares will vest if all of the following objectives have been accomplished:

	          	•	 		
[***]	
	 	•	 		
[***]	
	 	•	 		
[***]	
	 	•	 		
[***]	

	
    Robert G. McKelvey		 	 		 	
	
    Chair, Zygo Corporation Compensation Committee		 	 		 	
	 	 	 	 	 
	Signature 	
 /s/ Robert G. McKelvey		 	Date  	
 1/24/08	
	 	 	 	 	 
	
    Bruce Robinson		 	 		 	
	
    Chairman and CEO, Zygo Corporation		 	 		 	
	 	 	 	 	 
	Signature	
/s/Bruce Robinson		 	Date	
 1/31/08	

---------------------------- 

[***] Certain information on this page has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portion.

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