Document:

<PAGE>

                                                                    EXHIBIT 10.2

        FOURTH AMENDMENT TO FOURTH AMENDED AND RESTATED LOAN AGREEMENT
        --------------------------------------------------------------

     THIS FOURTH AMENDMENT TO FOURTH AMENDED AND RESTATED LOAN AGREEMENT (this
"Amendment") is executed as of September 14, 2001, by and between AMX
 ---------
CORPORATION, a Texas corporation, formerly known as PANJA INC. ("Borrower") and
                                                                 --------
BANK ONE, NA, successor by merger to BANK ONE, TEXAS, N.A., a national banking
association ("Lender").
              ------

                             W I T N E S S E T H:

     WHEREAS, Borrower and Lender entered into that certain Fourth Amended and
Restated Loan Agreement, dated September 1, 2000, pursuant to which Lender
agreed to make available to Borrower the Borrowing Base Line of Credit (as
therein defined) and the Advance/Term Facility (as therein defined)(as
heretofore or hereafter amended, the "Loan Agreement")(each capitalized term
                                      --------------
used herein, but not otherwise defined shall have the same meaning given to it
in the Loan Agreement); and

     WHEREAS, pursuant to the Loan Agreement, Borrower, Lender and Banc One
International Corporation executed that certain Exim Agreement (as defined in
the Loan Agreement) dated the date of the Loan Agreement, pursuant to which
Lender agreed to make available to Borrower a working capital loan for export
transactions in the amount of $4,000,000.00 (the "Exim Line of Credit") to be
                                                  -------------------
guaranteed by Exim Bank and included as a portion of the Borrowing Base Line of
Credit; and

     WHEREAS, in connection with the Loan Agreement, Borrower executed that
certain Renewal Promissory Note (the "Borrowing Base Note") dated the date of
                                      -------------------
the Loan Agreement in the stated principal amount of $10,000,000; and

     WHEREAS, in connection with the Exim Agreement, Borrower executed that
certain Promissory Note (the "Exim Note") dated the date of the Exim Agreement
                              ---------
in the stated principal amount of $4,000,000; and

     WHEREAS, Borrower and Lender entered into that certain Amendment to Fourth
Amended and Restated Loan Agreement (the "First Amendment") dated as of January
                                          ---------------
5, 2001, pursuant to which Lender agreed to make available to Borrower the 2001
Line of Credit (as therein defined); and

     WHEREAS, in connection with the First Amendment, Borrower executed that
certain Promissory Note (the "Term Note") dated the date of the First Amendment
                              ---------
in the stated principal amount of $2,000,000 (the Borrowing Base Note, the Exim
Note and the Term Note shall be collectively referred to herein as the "Notes");
                                                                        -----
and

     WHEREAS, Borrower and Lender entered into that certain Second Amendment to
Fourth Amended and Restated Loan Agreement (the "Second Amendment") dated as of
                                                 ----------------
March 31, 2001, pursuant to which Lender agreed to modify certain covenants
contained in the Loan Agreement; and

     WHEREAS Borrower and Lender entered into that certain Third Amendment to
Fourth Amended and Restated Loan Agreement (the "Third Amendment") dated as of
                                                 ---------------
September 14, 2001, pursuant to which Lender consented to an extension of the
Maturity Dates of the Borrowing Base Note and the Exim Note to September 14,
2001; and

     WHEREAS, Borrower has requested that, among other things, Lender modify
certain covenants contained in the Loan Agreement; and

     WHEREAS, subject to the terms and conditions herein contained, Lender is
willing to agree to such request.

FOURTH AMENDMENT TO FOURTH AMENDED AND                                    Page 1
--------------------------------------
RESTATED LOAN AGREEMENT (AMX Corporation)
-----------------------------------------
3000912v4
<PAGE>

     NOW, THEREFORE, in consideration of the covenants, conditions and
agreements hereinafter set forth, and for other good and valuable consideration,
the receipt and adequacy of which are all hereby acknowledged, Borrower and
Lender hereby covenant and agree as follows:

                             ARTICLE I: AMENDMENTS
                             ---------------------

     Section 1.1. Change of Borrower's Name.  The Loan Documents shall be and
                  -------------------------
hereby are amended such that from and after the date of this Amendment, Borrower
shall be known as AMX Corporation, a Texas corporation. Borrower represents and
warrants to Lender that the change from PANJA, INC. to AMX Corporation was only
a change in the name of the corporation.

     Section 1.2. Modifications to Loan Agreement.
                  -------------------------------

     (a)  Modification of Definitions under Borrowing Base Line of Credit.

         (i)  As of the date of this Amendment, the following definitions in the
     Loan Agreement shall be amended as follows:

            A) The term "Borrowing Base Amount" shall mean an amount equal to
     the lesser of (i) an amount equal to the Domestic Borrowing Base plus the
                                                                      ----
     Credit Accommodation Amount or (ii) $14,000,000.00 (the "Borrowing Base
                                                              --------------
     Line of Credit") less the Letter of Credit Liabilities.
     --------------   ----

            B) The term "Domestic Borrowing Base" shall mean an amount equal to
     the following, provided that in no event shall the aggregate amount of
     Eligible Inventory and Eligible Raw Material Inventory exceed more than 30%
     of the Domestic Borrowing Base:

                a. 80% of Borrower's Eligible Accounts; plus
                                                        ----
                b. 30% of Borrower's Eligible Inventory; plus
                                                         ----
                c. 25% of Borrower's Eligible Raw Material Inventory; minus
                                                                      -----
                d. the outstanding Letter of Credit Liabilities; minus
                                                                 -----
                e. the Reserve (as defined in the Loan Agreement).

            C) Section (i) of the term "Eligible Accounts" shall be amended in
               -----------
     its entirety as follows:

               (i) each such account that is unpaid 90 days or more after the
               date due thereof;

            D) Section (xii) of the term "Eligible Accounts" shall be amended in
               -------------
     its entirety as follows:

               (xii) any other accounts deemed unacceptable by Bank in its sole
               and absolute discretion; provided, however, if more than 20% of
               the then balance owing by any single account debtor does not
               qualify as an Eligible Account under the foregoing provisions,
               then the aggregate amount of all accounts owing by such account
               debtor shall be excluded from Eligible Accounts.

            E) In the definition of "Reserve," the following shall be added at
     the end of the first sentence:

                and/or Eligible Raw Material Inventory.

FOURTH AMENDMENT TO FOURTH AMENDED AND                                    Page 2
--------------------------------------
RESTATED LOAN AGREEMENT (AMX Corporation)
-----------------------------------------
3000912v4
<PAGE>

         (ii) As of the date of this Amendment, the following definition shall
     be added to the Loan Agreement:

              The term "Eligible Raw Material Inventory" shall mean as of any
              date, the aggregate value of all raw materials owned by Borrower,
              including, without limitation, all materials used or consumed or
              to be used or consumed in Borrower's business or in the
              processing, production, packaging, promotion, delivery or shipping
              of the same, excluding (i) inventory which is damaged, defective,
              obsolete or otherwise unsaleable in the ordinary course of
              Borrower's business, (ii) inventory which has been returned or
              rejected, and (iii) inventory subject to any consignment
              arrangement between Borrower and any other person or entity. For
              purposes of this definition, Eligible Raw Material Inventory shall
              be valued at the lower of cost or market value.

     (b)  Modification of Negative Covenants.

         (i) The following is hereby added at the end of Section 8(k) of the
                                                         ------------
   Loan Agreement:

              and in fiscal year 2002, an amount equal to (i) $1,000,000 plus
              (ii) any and all amounts owed with respect to the existing lease
              for Borrower's main office, provided that, in no event, shall the
              aggregate amount of (i) and (ii) exceed $2,500,000.

         (ii) Section 8(l) of the Loan Agreement is hereby added as follows:
              ------------

              (l) Treasury Stock Transactions. Enter into any transaction
                  ---------------------------
              whereby Borrower acquires any of its common stock or other equity
              interests, including, without limitation, the repurchase, sale or
              exchange of any such stock or other equity interests.

     (c)  Modification of Financial Covenants.

         (i) As of the date of this Amendment, the following financial covenants
     in Section 9 of the Loan Agreement shall be amended as follows:
        ---------

             A) Section 9(a) of the Loan Agreement is hereby deleted and
                ------------
     replaced with the following:

              Maximum Senior Funded Indebtedness to EBITDA. Consolidated
              --------------------------------------------
              Borrower will not permit the ratio, determined as of the end of
              each calendar quarter, of (a) Senior Funded Indebtedness to (b)
              EBITDA to be more than (y) 2.50 to 1.00 for the calendar quarters
              ending on September 30, 2001, December 31, 2001 and March 31, 2002
              (with EBITDA being computed for the period commencing on April 1,
              2001, and then annualizing such amount), and (z) 2.00 to 1.00,
              thereafter (with EBITDA being computed based on the twelve month
              period ended as of the date of determination).

            B) Section 9(b) of the Loan Agreement is hereby amended and restated
               ------------
    as follows:

              Tangible Net Worth. From and after the date of the Fourth
              ------------------
              Amendment to Fourth Amended and Restated Loan Agreement,
              Consolidated Borrower will maintain, at all times, its Tangible
              Net Worth at not less than $20,000,000, which amount shall be
              tested at the end of each calendar quarter.

FOURTH AMENDMENT TO FOURTH AMENDED AND                                    Page 3
--------------------------------------
RESTATED LOAN AGREEMENT (AMX Corporation)
-----------------------------------------
3000912v4
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            C) Section 9(c) of the Loan Agreement is hereby deleted and replaced
               ------------
    with the following:

              Minimum Debt Service Coverage Ratio. From and after the date of
              -----------------------------------
              the Fourth Amendment to Fourth Amended and Restated Loan
              Agreement, Consolidated Borrower will not permit its Debt Service
              Coverage Ratio, determined as of the end of each calendar quarter,
              to be less than 3.00 to 1.00.

            D) Section 9(d) of the Loan Agreement is hereby amended and restated
               ------------
               as follows:

              Capital Expenditures. Consolidated Borrower will not make capital
              --------------------
              expenditures in excess of $4,000,000 during the fiscal year ending
              March 31, 2002.

         (ii) As of the date of this Amendment, the following terms shall be
     added to Section 9 of the Loan Agreement:
              ---------

            A) "EBITDA" means, Net Income plus, to the extent deducted in
     determining Net Income, (i) Interest Expense, (ii) expense for income taxes
     paid or accrued, (iii) depreciation, and (iv) amortization.

            B) "Funded Indebtedness" means, at any time, the aggregate dollar
     amount of Consolidated Borrower's indebtedness for borrowed money, which
     has actually been funded and is outstanding at such time, whether or not
     such amount is due or payable at such time.

            C) "Interest Expense" means, with reference to any period, the
     interest expense of Consolidated Borrower during such period as reflected
     in the financial statements of Consolidated Borrower prepared in accordance
     with generally accepted accounting principals ("GAAP").
                                                     ----
            D) "Net Income" means, with reference to any period, the net income
     (or loss) of Consolidated Borrower during such period as reflected in the
     financial statements of Consolidated Borrower prepared in accordance with
     GAAP.

            E)  "Debt Service Coverage Ratio" means, at the time of
     determination, the ratio of (a) EBITDA (with EBITDA for the period prior to
     March 31, 2002, based on the EBITDA for the period commencing on April 1,
     2001, and then annualizing such amount, and after March 31, 2002, being
     computed based on the twelve month period ended as of the date of
     determination) to (b) the sum of the current portion of long term debt, the
     current portion of capitalized leases and Interest Expense on all
     obligations.

            F) "Senior Funded Indebtedness" means, at any time, the difference
     between (a) Funded Indebtedness, minus (b) any indebtedness which is
     otherwise included in Funded Indebtedness but which, by its terms (as
     approved by Lender), is expressly subordinated to the payment of any other
     Funded Indebtedness.

     (d)  Modification of Reporting Requirements. Section 10(d) of the Loan
                                                  -------------
     Agreement is hereby amended and restated as follows:

               (d)  Borrowing Base Report. A borrowing base report signed by the
                    ---------------------
               President or Chief Financial Officer within twenty (20) days
               after the end of each month of each fiscal year, in form and
               detail satisfactory to Bank

     Section 1.3. Amended and Restated Promissory Notes. Borrower shall execute
                  -------------------------------------
that certain Amended and Restated Borrowing Base Note and that certain Amended
and Restated Term Note (collectively, the "Amended Notes") attached hereto as
                                           -------------
Exhibits A and B, respectively, to reflect, among other
----------------

FOURTH AMENDMENT TO FOURTH AMENDED AND                                    Page 4
--------------------------------------
RESTATED LOAN AGREEMENT (AMX Corporation)
-----------------------------------------
3000912v4
<PAGE>

things, (i) a change in the Contract Rate under the Borrowing Base Note, and
(ii) an extension of the Maturity Date of the Term Note and to reflect the full
amortization of the Term Note over its extended term. The originals of the Notes
will be marked to indicate that they have been replaced by the Amended Notes.

     Section 1.4. Unused Fee. Borrower shall pay to Lender a fee on any
                  ----------
difference between the maximum principal amount available under the Borrowing
Base Line of Credit and the amount of credit it actually uses, determined by the
average of the daily amount of credit outstanding during the specified period.
The fee will be calculated at .25% per annum. Such fee shall be due and payable
quarterly in arrears on the first day of December and on the first day of March,
June, September and December until the expiration of the availability of
advances under the Borrowing Base Line of Credit.

                       ARTICLE II: CONDITIONS PRECEDENT
                       --------------------------------

     Section 2.1. Closing.  The closing (the "Closing") of the transactions
                  -------                     -------
contemplated by this Amendment shall occur on and as of the date that all
conditions hereto contained in Section 2.2 of this Amendment have been satisfied
                               -----------
(the "Amendment Closing Date").
      ----------------------

     Section 2.2. Conditions to the Closing. As conditions precedent to the
                  -------------------------
Closing, all of the following shall have been satisfied:

     (a)  Loan Documents. Contemporaneously with the execution of this
     Amendment, Borrower shall cause to be delivered to Lender the Amended and
     Restated Notes.

     (b)  Amendment to Exim Line of Credit.  Contemporaneously with the
     execution of this Amendment, Borrower shall execute and deliver to Lender
     an amendment to the Exim Agreement in form and substance satisfactory to
     Lender.

     (c)  Organizational Documents. Contemporaneously with the execution of this
     Amendment, Borrower shall cause to be delivered to Lender a certificate
     from Borrower's Secretary which certifies that the bylaws, resolutions and
     other organizational documents previously delivered by Borrower to Lender
     are true and correct copies of the originals thereof, are in full force and
     effect and have not been modified or amended.

                          ARTICLE III: MISCELLANEOUS
                          --------------------------

     Section 3.1. Continuing Effect. Except as modified and amended hereby, the
                  -----------------
Loan Agreement and other Loan Documents are and shall remain in full force and
effect in accordance with their terms.

     Section 3.2. Payment of Expenses. Borrower agrees to pay to Lender the
                  -------------------
reasonable attorneys' fees and expenses of Lender's counsel and other expenses
incurred by Lender in connection with this Amendment.

     Section 3.3. Binding Loan Agreement. This Amendment shall be binding upon,
                  ----------------------
and shall inure to the benefit of, the parties' respective representatives,
successors and assigns.

     Section 3.4. Ratification. Except as otherwise expressly modified by this
                  ------------
Amendment, all terms and provisions of the Loan Agreement, the Amended Notes and
the other Loan Documents, shall remain unchanged and hereby are ratified and
confirmed and shall be and shall remain in full force and effect, enforceable in
accordance with their terms.

     Section 3.5. No Defenses. Borrower by its execution of this Amendment,
                  -----------
hereby declares that it has no set-offs, counterclaims, defenses or other causes
of action against Lender arising out of the Loans, the modification of the
Loans, any documents mentioned herein or otherwise; and, to the extent any such
setoffs,

FOURTH AMENDMENT TO FOURTH AMENDED AND                                    Page 5
--------------------------------------
RESTATED LOAN AGREEMENT (AMX Corporation)
-----------------------------------------
3000912v4
<PAGE>

counterclaims, defenses or other causes of action may exist, whether known or
unknown, such items are hereby waived by Borrower.

     Section 3.6. Further Assurances. The parties hereto shall execute such
                  ------------------
other documents as may be necessary or as may be required, in the opinion of
counsel to Lender, to effect the transactions contemplated hereby and to extend
the liens and/or security interests of all other collateral instruments, as
modified by this Amendment, including, without limitation, any modifications to,
or re-filing of any financing statements previously held by Lender related to
the Loans to reflect the change in Borrower's name. Borrower also agrees to
provide to Lender such other documents and instruments as Lender reasonably may
request in connection with the modification of the Loans effected hereby.

     Section 3.7. Usury Savings Clause.  Notwithstanding anything to the
                  --------------------
contrary in this Amendment, the Amended Notes or any other Loan Document, or in
any other agreement entered into in connection with the Amended Notes or
securing the indebtedness evidenced by the Amended Notes, whether now existing
or hereafter arising and whether written or oral, it is agreed that the
aggregate of all interest and other charges constituting interest, or
adjudicated as constituting interest, and contracted for, chargeable or
receivable under the Amended Notes or otherwise in connection with the Amended
Notes shall under no circumstances exceed the maximum rate of interest permitted
by applicable law. In the event the maturity of the Amended Notes is accelerated
by reason of an election by the holder thereof resulting from a default
thereunder or under any other document executed as security therefore or in
connection therewith, or by voluntary prepayment by the maker, or otherwise,
then earned interest may never include more than the maximum rate of interest
permitted by applicable law. If from any circumstance any holder of any of the
Amended Notes shall ever receive interest or any other charges constituting
interest, or adjudicated as constituting interest, the amount, if any, which
would exceed the maximum rate of interest permitted by applicable law shall be
applied to the reduction of the principal amount owing on such Amended Notes or
on account of any other principal indebtedness of the maker to the holders of
such Amended Notes, and not to the payment of interest, or if such excessive
interest exceeds the unpaid balance of principal thereof and such other
indebtedness, the amount of such excessive interest that exceeds the unpaid
balance of principal thereof and such other indebtedness shall be refunded to
the maker. All sums paid or agreed to be paid to the holder of the Amended Notes
for the use, forbearance or detention of the indebtedness of the maker to the
holder of such Amended Notes shall be amortized, prorated, allocated and spread
throughout the full term of such indebtedness until payment in full for the
purpose of determining the actual rate on such indebtedness is uniform
throughout the term thereof.

          The terms "maximum amount" or "maximum rate" as used in this Amendment
or the Amended Notes, or in any other agreement entered into in connection with
the Amended Notes or securing the indebtedness evidenced by the Amended Notes,
whether now existing or hereafter arising and whether written or oral, include,
as to Chapter 303 of the Texas Finance Code (and as same may be incorporated by
reference in other statutes of the State of Texas), but otherwise without
limitation, that rate based upon the "weekly ceiling"; provided, however, that
this designation shall not preclude the rate of interest contracted for, charged
or received in connection with the Loans from being governed by, or construed in
accordance with, any other state or federal law, including but not limited to,
Public Law 96-221.

     Section 3.8. Non-Waiver of Events of Default. Except as specifically
                  -------------------------------
provided herein, neither this Amendment nor any other document executed in
connection herewith constitutes or shall be deemed (a) a waiver of, or consent
by Lender to, any default or event of default which may exist or hereafter occur
under any of the Loan Documents, (b) a waiver by Lender of any of Borrower's
obligations under the Loan Documents, or (c) a waiver by Lender of any rights,
offsets, claims, or other causes of action that Lender may have against
Borrower.

     Section 3.9. Enforceability. In the event the enforceability or validity of
                  --------------
any portion of this Amendment, the Loan Agreement, the Amended Notes, or any of
the other Loan Documents is challenged or

FOURTH AMENDMENT TO FOURTH AMENDED AND                                    Page 6
--------------------------------------
RESTATED LOAN AGREEMENT (AMX Corporation)
-----------------------------------------
3000912v4
<PAGE>

questioned, such provision shall be construed in accordance with, and shall be
governed by, whichever applicable federal or Texas law would uphold or would
enforce such challenged or questioned provision.

     Section 3.10. Counterparts. This Amendment may be executed in several
                   ------------
counterparts, all of which are identical, each of which shall be deemed an
original, and all of which counterparts together shall constitute one and the
same instrument, it being understood and agreed that the signature pages may be
detached from one or more of such counterparts and combined with the signature
pages from any other counterpart in order that one or more fully executed
originals may be assembled.

     Section 3.11. Choice of Law.  THIS AMENDMENT SHALL BE GOVERNED BY, AND
                   -------------
CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF TEXAS, EXCEPT TO THE
EXTENT FEDERAL LAWS PREEMPT THE LAWS OF THE STATE OF TEXAS.

     Section 3.12. Entire Loan Agreement. This Amendment, together with the
                   ---------------------
other Loan Documents, contain the entire agreements between the parties relating
to the subject matter hereof and thereof. This Amendment and the other Loan
Documents may be amended, revised, waived, discharged, released or terminated
only by a written instrument or instruments, executed by the party against which
enforcement of the amendment, revision, waiver, discharge, release or
termination is asserted. Any alleged amendment, revision, waiver, discharge,
release or termination which is not so documented shall not be effective as to
any party.

     THIS AMENDMENT AND THE OTHER LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT
     -------------------------------------------------------------------------
BETWEEN THE PARTIES RELATED TO THE SUBJECT MATTER THEREIN CONTAINED 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.
-------

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

                              LENDER:
                              -------

                              BANK ONE, NA, successor by merger to BANK ONE,
                              TEXAS, N.A., a national banking association

                              By: /s/ Fred A. Points
                                 ------------------------------------
                              Name: Fred Points
                                   ----------------------------------
                              Title: First Vice President
                                    ---------------------------------

                              BORROWER:
                              --------

                              AMX CORPORATION, a Texas corporation,
                              formerly known as PANJA INC.

                              By: /s/ Jean M. Nelson
                                 ------------------------------------
                              Name: Jean M. Nelson
                                   ----------------------------------
                              Title:  VP & CFO
                                    ---------------------------------

FOURTH AMENDMENT TO FOURTH AMENDED AND                                    Page 7
--------------------------------------
RESTATED LOAN AGREEMENT (AMX Corporation)
-----------------------------------------
3000912v4<PAGE>

                                                                    EXHIBIT 10.3
                        AMENDED AND RESTATED TERM NOTE
                        ------------------------------

$2,647,764.00                                                 September 14, 2001

     FOR VALUE RECEIVED, on or before September 1, 2002 ("Maturity Date") the
                                                          -------------
undersigned and if more than one, each of them, jointly and severally
("Borrower"), does hereby unconditionally promise to pay to the order of BANK
  --------
ONE, NA, successor by merger to BANK ONE, TEXAS, N.A., a national banking
association ("Bank"), at its offices in Dallas County, Texas at 1717 Main
              ----
Street, Dallas, Texas 75201, the principal amount of TWO MILLION SIX HUNDRED
FORTY-SEVEN THOUSAND SEVEN HUNDRED AND SIXTY-FOUR AND NO/100 DOLLARS
($2,647,764.00) ("Total Principal Amount"), or such amount less than the Total
                  ----------------------
Principal Amount which is outstanding from time to time if the total amount
outstanding under this Amended and Restated Term Note (this "Amended Note") is
                                                             ------------
less than the Total Principal Amount, in lawful money of the United States of
America, together with interest on such portion of the Total Principal Amount
which has been drawn until paid at the rates per annum provided below.

     1.   Definitions.  For purposes of this Amended Note, unless the context
          -----------
otherwise requires, the following terms shall have the definitions assigned to
such terms as follows:

     "Adjusted LIBOR Rate" shall mean with respect to each Interest Period, on
      -------------------
any day thereof an amount equal to the sum of (i) 2.25%, plus, (ii) the quotient
                                                         ----
of (a) the LIBOR Rate with respect to such Interest Period (the "Index"),
                                                                 -----
divided by (b) the remainder of 1.0 less the Reserve Requirement in effect on
such day.  Each determination by Bank of the Adjusted LIBOR Rate shall, in the
absence of manifest error, be conclusive and binding.

     "Business Day" shall mean any day other than a Saturday, Sunday or any
      -----------
other day on which national banking associations are authorized to be closed.

     "Consequential Loss" shall mean, with respect to Borrower's payment of all
      ------------------
or any portion of the then outstanding principal amount of any LIBOR Balance on
a day other than the last day of the Interest Period related thereto, any loss,
cost or expense incurred by Bank in redepositing such principal amount,
including the sum of (i) the interest which, but for such payment, Bank would
have earned in respect of such principal amount so paid, for the remainder of
the Interest Period applicable to such sum, reduced, if Bank is able to
redeposit such principal amount so paid for the balance of such Interest Period,
by the interest earned by Bank as a result of so redepositing such principal
amount plus (ii) any expense or penalty incurred by Bank on redepositing such
principal amount.

     "Contract Rate" shall mean a rate of interest based upon the Adjusted LIBOR
      -------------
Rate or the Prime Rate in effect at any time pursuant to an Interest Notice.

     "Dollars" shall mean lawful currency of the United States of America.
      -------

     "Event of Default" shall mean the occurrence of an event of default
      ---------------
specified in the Loan Agreement (as hereinafter defined).

AMENDED AND RESTATED TERM NOTE (AMX Corporation)                          Page 1
------------------------------------------------
3003124v3
<PAGE>

     "Excess Interest Amount" shall mean, on any date, the amount by which (i)
      ----------------------
the amount of all interest which would have accrued prior to such date on the
principal of this Amended Note, had the applicable Contract Rate at all times
been in effect without limitation by the Maximum Rate, exceeds (ii) the
                                                       -------
aggregate amount of interest accrued on this Amended Note on or prior to such
date.

     "Interest Notice" shall mean the notice given by Borrower to Bank of the
      ---------------
Interest Options selected hereunder. Each Interest Notice shall specify the
Interest Option selected, the amount of the unpaid principal balance of this
Amended Note to bear interest at the rate selected and, if the Adjusted LIBOR
Rate is specified, the length of the applicable Interest Period.  An Interest
Notice may be written or oral (if promptly confirmed thereafter in writing) and
Bank is hereby authorized and directed to honor all telephonic Interest Notices
from any person authorized to request advances hereunder.

     "Interest Option" shall have the meaning assigned to such term in paragraph
      ---------------
6 hereof.

     "Interest Payment Date" shall mean (i) in the case of the Prime Rate
      ---------------------
Balance, on the first day of December, 2001 and on the first day of March, June,
September and December thereafter, and on the Maturity Date, and (ii) in the
case of any LIBOR Balance, on the earlier of (a) the last day of the
corresponding Interest Period with respect to such LIBOR Balance, or (b) the
first day of December, 2001, and on the first day of March, June, September and
December thereafter, and on the Maturity Date.

     "Interest Period" shall mean each consecutive one month, two month and
      ---------------
three month period (the first of which shall commence on the date of this
Amended Note) effective as of the first day of each Interest Period and ending
on the last day of each Interest Period, provided that if any Interest Period is
scheduled to end on a date for which there is no numerical equivalent to the
date on which the Interest Period commenced, then it shall end instead on the
last day of such calendar month.

     "LIBOR Balance" shall mean any principal balance of this Amended Note
      -------------
which, pursuant to an Interest Notice, bears interest at a rate based upon the
Adjusted LIBOR Rate for the Interest Period specified in such Interest Notice.

     "LIBOR Rate" shall mean the offered rate for U.S. Dollar deposits of not
      ----------
less than $1,000,000.00 for a period of time equal to each Interest Period as of
11:00 A.M. City of London, England time two London Business Days prior to the
first date of each Interest Period of this Amended Note as shown on the display
designated as "British Bankers Assoc. Interest Settlement Rates" on the Telerate
System ("Telerate"), Page 3750 or Page 3740, or such other page or pages as may
         --------
replace such pages on Telerate for the purpose of displaying such rate.
Provided, however, that if such rate is not available on Telerate then such
offered rate shall be otherwise independently determined by Bank from an
alternate, substantially similar independent source available to Bank or shall
be calculated by Bank by a substantially similar methodology as that theretofore
used to determine such offered rate in Telerate. Each change in the rate to be
charged on this Amended Note will become effective without notice on the
commencement of each Interest Period based upon the Index then in effect.

AMENDED AND RESTATED TERM NOTE (AMX Corporation)                          Page 2
------------------------------------------------
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<PAGE>

     "Loan Agreement" shall mean that certain Fourth Amended and Restated Loan
      --------------
Agreement by and between Bank and Borrower dated September 1, 2000, as amended
from time to time.

     "Loan Documents" shall mean this Amended Note, the Loan Agreement and all
      --------------
other documents evidencing, securing, governing, guaranteeing and/or pertaining
to this Amended Note.

     "London Business Day" means any day other than a Saturday, Sunday or a day
      -------------------
on which banking institutions are generally authorized or obligated by law or
executive order to close in the City of London, England.

     "Maximum Rate" shall mean, with respect to the holder hereof, the maximum
      ------------
nonusurious interest rate, if any, that at any time, or from time to time, may
be contracted for, taken, reserved, charged, or received on the indebtedness
evidenced by this Amended Note under the laws which are presently in effect in
the United States and the State of Texas applicable to such holder and such
indebtedness or, to the extent permitted by law, under such applicable laws of
the United States and the State of Texas which may hereafter be in effect and
which allow a higher maximum nonusurious interest rate than applicable laws now
allow. To the extent that Chapter 303 of the Texas Finance Code ("Code"), is
                                                                  ----
relevant to any holder of this Amended Note for the purposes of determining the
Maximum Rate, each such holder elects to determine such applicable legal rate
under the Act pursuant to the "weekly ceiling," from time to time in effect, as
referred to and defined in Chapter 303 of the Code; subject, however, to the
limitations on such applicable ceiling referred to and defined in Chapter 303 of
the Code, and further subject to any right such holder may have subsequently,
under applicable law, to change the method of determining the Maximum Rate. If
no Maximum Rate is established by applicable law, then the Maximum Rate shall be
equal to eighteen percent (18%).

     "Prime Rate" shall mean the rate established from time to time by Bank as
      ----------
its prime rate of interest (which may not be the lowest, best or most favorable
rate of interest which Bank may charge on loans to its customers).

     "Prime Rate Balance" shall mean that portion of the principal balance of
      ------------------
this Amended Note bearing interest at a rate based upon the Prime Rate.

     "Regulation D" shall mean Regulation D of the Board of Governors of the
      ------------
Federal Reserve System from time to time in effect and shall include any
successor or other regulation relating to reserve requirements applicable to
member banks of the Federal Reserve System.

     "Reserve Requirement" shall, on any day, mean that percentage (expressed as
      -------------------
a decimal fraction) which is in effect on such day, as provided by the Board of
Governors of the Federal Reserve System (or any successor governmental body) for
determining the reserve requirements (including without limitation, basic,
supplemental, marginal and emergency reserves) under Regulation D with respect
to "Eurocurrency liabilities" as currently defined in Regulation D, or under any
similar or successor regulation. For purposes of this definition, any LIBOR
Balances hereunder shall be deemed "Eurocurrency liabilities" under Regulation D
without benefit of or

AMENDED AND RESTATED TERM NOTE (AMX Corporation)                          Page 3
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<PAGE>

credit for prorations, exemptions or offsets under Regulation D.  Bank's
determination of the Reserve Requirement shall be conclusive.

     2. Payments of Interest and Principal. Interest on the unpaid principal
        ----------------------------------
balance of this Amended Note shall be due and payable on each Interest Payment
Date as it accrues and the entire unpaid principal balance of this Amended Note,
and all accrued but unpaid interest thereon, shall be due and payable on the
Maturity Date.

     3. Rates of Interest. The unpaid principal of the Prime Rate Balance shall
        -----------------
bear interest at a rate per annum which shall from day to day be equal to the
lesser of (i) the Prime Rate in effect from day to day, or (ii) the Maximum
Rate. The unpaid principal of each LIBOR Balance shall bear interest at a rate
per annum which shall from day to day be equal to the lesser of (i) the Adjusted
LIBOR Rate for the Interest Period in effect with respect to such LIBOR Balance,
or (ii) the Maximum Rate. Each change in the interest rate applicable to a Prime
Rate Balance shall become effective without prior notice to Borrower
automatically as of the opening of business on the date of such change in the
Prime Rate. Interest on this Amended Note shall be calculated on the basis of
the actual days elapsed in a year consisting of 365 days.

     4. Interest Recapture. If on each Interest Payment Date or any other date
        ------------------
on which interest payments are required hereunder, Bank does not receive
interest on this Amended Note computed at the Contract Rate because such
Contract Rate exceeds or has exceeded the Maximum Rate, then Borrower shall,
upon the written demand of Bank, pay to Bank in addition to the interest
otherwise required to be paid hereunder, on each Interest Payment Date
thereafter, the Excess Interest Amount (calculated as of such later Interest
Payment Date); provided that in no event shall Borrower be required to pay, for
any Interest Period, interest at a rate exceeding the Maximum Rate effective
during such period.

     5. Interest on Past Due Amounts. To the extent any interest is not paid on
        ----------------------------
or before the fifth day after it becomes due and payable, Bank may, at its
option, add such accrued but unpaid interest to the principal of this Amended
Note. Notwithstanding anything herein to the contrary, upon an Event of Default
or at maturity, whether by acceleration or otherwise, all principal of this
Amended Note shall, at the option of Bank, bear interest at the Prime Rate plus
3% (the "Default Rate") until paid; provided, however, the Default Rate shall at
         ------------
no time exceed the Maximum Rate.

     6. Interest Option. Subject to the provisions hereof, Borrower shall have
        ---------------
the option (an "Interest Option") of having designated portions of the unpaid
                ---------------
principal balance of this Amended Note bear interest at a rate based upon the
Adjusted LIBOR Rate or Prime Rate as provided in paragraph 3 hereof, provided,
however, that the selection of the Adjusted LIBOR Rate for a particular Interest
Period shall not be for less than $100,000.00 of unpaid principal or an integral
multiple thereof. The Interest Option shall be exercised in the manner provided
below:

          (i) At Time of Borrowing. Borrower shall give Bank an Interest Notice
              --------------------
     indicating the initial Interest Option selected with respect to the
     principal balance of such advance.

AMENDED AND RESTATED TERM NOTE (AMX Corporation)                          Page 4
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<PAGE>

          (ii) At Expiration of Interest Periods. Unless otherwise agreed to by
               ---------------------------------
     Bank, at least two (2) Business Days prior to the termination of any
     Interest Period, Borrower shall give Bank an Interest Notice indicating the
     Interest Option to be applicable to the corresponding LIBOR Balance upon
     the expiration of such Interest Period. If the required Interest Notice
     shall not have been timely received by Bank prior to the expiration of the
     then-relevant Interest Period, Borrower shall be deemed to have selected a
     rate based upon the Prime Rate to be applicable to such LIBOR Balance upon
     the expiration of such Interest Period and to have given Bank notice of
     such selection.

          (iii) Conversion From Prime Rate. During any period in which any
                --------------------------
     portion of the principal hereof bears interest at a rate based upon the
     Prime Rate, Borrower shall have the right, on any London Business Day (the
     "Conversion Date"), to convert all or a portion of such principal amount
      ---------------
     from the Prime Rate Balance to a LIBOR Balance by giving Bank an Interest
     Notice of such selection at least two (2) London Business Days prior to
     such Conversion Date, or as otherwise agreed to by Bank.

An Interest Notice may be written or oral and Bank is hereby authorized and
directed to honor all telephonic Interest Notices hereunder. Borrower agrees to
indemnify and hold Bank harmless from any loss or liability incurred by Bank in
connection with honoring any telephonic or other oral Interest Notices. All
written Interest Notices are effective only upon receipt by Bank. Each Interest
Notice shall be irrevocable and binding upon Borrower.

     7. Special Provisions For LIBOR Pricing.
        ------------------------------------

        a. Inadequacy of LIBOR Loan Pricing. If Bank determines that, by reason
           --------------------------------
of circumstances affecting the interbank eurodollar market generally, deposits
in Dollars (in the applicable amounts) are not being offered to United States
financial institutions in the interbank eurodollar market for such Interest
Period, or that the rate at which such Dollar deposits are being offered will
not adequately and fairly reflect the cost to Bank of making or maintaining a
LIBOR Balance for the applicable Interest Period, Bank shall forthwith give
notice thereof to Borrower, whereupon until Bank notifies Borrower that the
circumstances giving rise to such suspension no longer exist, (i) the right of
Borrower to select an Interest Option based upon the LIBOR Rate shall be
suspended, and (ii) Borrower shall be deemed to have converted each LIBOR
Balance to the Prime Rate Balance in accordance with the provisions hereof on
the last day of the then-current Interest Period applicable to such LIBOR
Balance.

        b. Illegality. If the adoption of any applicable law, rule or
           ----------
regulation, or any change therein, or any change in the interpretation or
administration thereof by any governmental authority, central bank or comparable
agency charged with the interpretation or administration thereof, or compliance
by Bank with any request or directive (whether or not having the force of law)
of any such authority, central bank or comparable agency shall make it unlawful
or impossible for Bank to make or maintain a LIBOR Balance, Bank shall so notify
Borrower. Upon receipt of such notice, Borrower shall be deemed to have
converted any LIBOR Balance to the Prime Rate Balance, on either (i) the last
day of the then-current Interest Period applicable to such LIBOR Balance if Bank
may lawfully continue to maintain and fund such LIBOR Balance

AMENDED AND RESTATED TERM NOTE (AMX Corporation)                         Page 5
------------------------------------------------
3003124v3
<PAGE>

to such day, or (ii) immediately, if Bank may not lawfully continue to
maintain such LIBOR Balance to such day.

     8. Extension, Place and Application of Payments. Should the principal of,
        --------------------------------------------
or any interest on, this Amended Note become due and payable on any day other
than a Business Day, the maturity thereof shall be extended to the next
succeeding Business Day, and interest shall be payable with respect to such
extension. All payments of principal of, and interest on, this Amended Note
shall be made in lawful money of the United States of America in immediately
available funds. Payments made to Bank by Borrower hereunder shall be applied
first to accrued but unpaid interest and then to outstanding principal.

     9. Loan Agreement. This Amended Note is subject to the terms and provisions
        --------------
of the Loan Agreement, which is incorporated herein by reference for all
purposes. The holder of this Amended Note is entitled to the benefits provided
in the Loan Agreement.

     10. Prepayments, Consequential Loss. Any prepayment made hereunder shall be
         -------------------------------
made together with all interest accrued but unpaid on this Amended Note through
the date of such prepayment. Contemporaneously with each prepayment of
principal, Borrower shall give Bank written or oral notice indicating whether
such prepayment is to be applied to the Prime Rate Balance or a particular LIBOR
Balance. If such notice is not timely received by Bank, Borrower shall be deemed
to have selected to prepay the Prime Rate Balance and, if any sums remain after
satisfying all of the Prime Rate Balance, the remaining sums shall be applied to
any LIBOR Balance(s) that Bank determines in its sole discretion. Borrower
agrees to indemnify and hold Bank harmless from any loss or liability incurred
by Bank in connection with honoring telephonic or other oral notices indicating
how a prepayment is to be applied. If Borrower makes any such prepayment other
than on the last day of an Interest Period, Borrower shall pay all accrued
interest on the principal amount prepaid with such prepayment and, on demand,
shall reimburse Bank and hold Bank harmless from all losses and expenses
incurred by Bank as a result of such prepayment, including, without limitation,
any losses and expenses arising from the liquidation or reemployment of deposits
acquired to fund or maintain the principal amount prepaid. Such reimbursement
shall be calculated as though Bank funded the principal amount prepaid through
the purchase of U.S. Dollar deposits in the London, England interbank market
having a maturity corresponding to such Interest Period and bearing an interest
rate equal to the LIBOR Rate for such Interest Period, whether in fact that is
the case or not. Bank's determination of the amount of such reimbursement shall
be conclusive in the absence of manifest error.

     11. Additional Costs. Borrower agrees to pay to Bank all Additional Costs
         ----------------
within ten (10) days of receipt by Borrower from Bank of a statement setting
forth the amount or amounts due and the basis for the determination from time to
time of such amount or amounts, which statement shall be conclusive and binding
upon Borrower absent manifest error. Failure on the part of Bank to demand
compensation for any Additional Costs in any Interest Period shall not
constitute a waiver of Bank's right to demand compensation for any Additional
Costs incurred during any such Interest Period or in any other subsequent or
prior Interest Period. The term "Additional Costs" shall mean such additional
                                 ----------------
amount or amounts as Bank shall reasonably determine will compensate Bank for
actual costs incurred by Bank in maintaining LIBOR Rates

AMENDED AND RESTATED TERM NOTE (AMX Corporation)                         Page 6
------------------------------------------------
3003124v3
<PAGE>

on the LIBOR Balances or any portion thereof as a result of any change,
after the date of this Amended Note, in applicable law, rule or regulation or in
the interpretation or administration thereof by, or the compliance by Bank with
any request or directive from, any domestic or foreign governmental authority
charged with the interpretation or administration thereof (whether or not having
the force of law) or by any domestic or foreign court changing the basis of
taxation of payments to Bank of the LIBOR Balances or interest on the LIBOR
Balances or any portion thereof at an Adjusted LIBOR Rate or any other fees or
amounts payable under this Amended Note or the Loan Agreement (other than taxes
imposed on all or any portion of the overall net income of Bank by the State of
Texas or the Federal government), or imposing, modifying or applying any
reserve, special deposit or similar requirement against assets of, deposits with
or for the account of, credit extended by, or any other acquisition of funds for
loans by Bank, or imposing on Bank, as the case may be, or on the London
interbank market any other condition affecting this Amended Note, the Loan
Agreement or the LIBOR Balances so as to increase the cost of Bank making or
maintaining Adjustable LIBOR Rates with respect to the LIBOR Balances or any
portion thereof or to reduce the amount of any sum received or receivable by
Bank under this Amended Note or the Loan Agreement (whether of principal,
interest or otherwise), by an amount deemed by Bank in good faith to be
material, but without duplication for Reserve Requirement.

     12. Notices. Except as otherwise specified herein, all notices and requests
         -------
required or permitted hereunder shall be in writing and shall be deemed to have
been given when personally delivered or, if mailed, two Business Days after
deposited in a regularly maintained receptacle for the United States Postal
Service, postage prepaid, registered or certified, return receipt requested,
addressed to Borrower or Bank at the following respective addresses or such
other address as such party may from time to time designate by written notice to
the other: Borrower: 3000 Research Drive, Richardson, Texas 75082, Attention:
Jean Nelson; Bank: 1717 Main Street, Dallas, Texas 75201, Attention: Fred
Points.

     13. Legal Fees.  If this Amended Note is placed in the hands of any
         ----------
attorney for collection, or if it is collected through any legal proceeding at
law or in equity or in bankruptcy, receivership or other court proceedings,
Borrower agrees to pay all costs of collection including, but not limited to,
court costs and reasonable attorneys' fees.

     14. Waivers. Borrower and each surety, endorser, guarantor and any other
         -------
party ever liable for payment of any sums of money payable on this Amended Note,
jointly and severally waive presentment and demand for payment, protest, notice
of protest, intention to accelerate, acceleration and non-payment, or other
notice of default, and agree that their liability under this Amended Note shall
not be affected by any renewal or extension in the time of payment hereof, or in
any indulgences, or by any release or change in any security for the payment of
this Amended Note, and hereby consent to any and all renewals, extensions,
indulgences, releases or changes, regardless of the number of such renewals,
extensions, indulgences, releases or changes; provided, however, this Amended
Note may not be amended or modified except by a written instrument signed by the
Borrower and the holder hereof.

     No waiver by Bank of any of its rights or remedies hereunder or under any
other document evidencing or securing this Amended Note or otherwise shall be
considered a waiver

AMENDED AND RESTATED TERM NOTE (AMX Corporation)                          Page 7
------------------------------------------------
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<PAGE>

of any other subsequent right or remedy of Bank; no delay or omission in
the exercise or enforcement by Bank of any rights or remedies shall ever be
construed as a waiver of any right or remedy of Bank; and no exercise or
enforcement of any such rights or remedies shall ever be held to exhaust any
right or remedy of Bank.

     15. Remedies.  Subject to any notice and cure period, upon the occurrence
         --------
of any Event of Default, the holder hereof may, at its option, (i) declare the
entire unpaid balance of principal and accrued but unpaid interest on this
Amended Note to be immediately due and payable, (ii) refuse to advance any
additional amounts under this Amended Note, (iii) foreclose all liens securing
payment hereof, (iv) pursue any and all other rights, remedies and recourses
available to the holder hereof, including but not limited to, any such rights,
remedies or recourses under the Loan Documents, at law or in equity, or (v)
pursue any combination of the foregoing.

     16. Spreading.  Any provision herein, or in any document securing this
         ---------
Amended Note, or any other document executed or delivered in connection
herewith, or in any other agreement or commitment, whether written or oral,
expressed or implied, to the contrary notwithstanding, neither Bank nor any
holder hereof shall in any event be entitled to receive or collect, nor shall or
may amounts received hereunder be credited, so that Bank or any holder hereof
shall be paid, as interest, a sum greater than the maximum amount permitted by
applicable law to be charged to the person, partnership, firm or corporation
primarily obligated to pay this Amended Note at the time in question.  If any
construction of this Amended Note or any document securing this Amended Note, or
any and all other papers, agreements or commitments, indicate a different right
given to Bank or any holder hereof to ask for, demand or receive any larger sum
as interest, such is a mistake in calculation or wording which this clause shall
override and control, it being the intention of the parties that this Amended
Note, and all other instruments securing the payment of this Amended Note or
executed or delivered in connection herewith shall in all things comply with the
applicable law and proper adjustments shall automatically be made accordingly.
In the event that Bank or any holder hereof ever receives, collects or applies
as interest, any sum in excess of the Maximum Rate, if any, such excess amount
shall be applied to the reduction of the unpaid principal balance of this
Amended Note, and if this Amended Note is paid in full, any remaining excess
shall be paid to Borrower. In determining whether or not the interest paid or
payable, under any specific contingency, exceeds the Maximum Rate, if any,
Borrower and Bank or any holder hereof shall, to the maximum extent permitted
under applicable law: (a) characterize any nonprincipal payment as an expense or
fee rather than as interest, (b) exclude voluntary prepayments and the effects
thereof, (c) "spread" the total amount of interest throughout the entire term of
this Amended Note; provided that if this Amended Note is paid and performed in
full prior to the end of the full contemplated term hereof, and if the interest
received for the actual period of existence thereof exceeds the Maximum Rate, if
any, Bank or any holder hereof shall refund to Borrower the amount of such
excess, or credit the amount of such excess against the aggregate unpaid
principal balance of all advances made by the Bank or any holder hereof under
this Amended Note at the time in question.

     17. Choice of Law.  This Amended Note is being executed and delivered, and
         -------------
is intended to be performed in the State of Texas. Except to the extent that the
laws of the United States may apply to the terms hereof, the substantive laws of
the State of Texas shall govern the

AMENDED AND RESTATED TERM NOTE (AMX Corporation)                         Page 8
------------------------------------------------
3003124v3
<PAGE>

validity, construction, enforcement and interpretation of this Amended
Note. In the event of a dispute involving this Amended Note or any other
instruments executed in connection herewith, the undersigned irrevocably agrees
that venue for such dispute shall lie in any court of competent jurisdiction in
Dallas County, Texas.

                              BORROWER:

                              AMX CORPORATION, a Texas corporation, formerly
                              known as PANJA INC.

                              By: /s/ Jean M. Nelson
                                 ------------------------------------
                              Name: Jean M. Nelson
                                   ----------------------------------
                              Title: VP & CFO
                                    ---------------------------------

AMENDED AND RESTATED TERM NOTE (AMX Corporation)                          Page 9
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