Document:

Summary of Compensation - Board of Directors

 Exhibit 10.43 
  
 COMPENSATION PROGRAM FOR 
 NON-EMPLOYEE DIRECTORS OF NMT MEDICAL, INC. 
  
 As of March 21, 2005, the following represents the compensation program for non-employee directors of NMT Medical, Inc. (the “Company”) who are not otherwise compensated by the Company: 
  

	 	•	 	an option to purchase 20,000 shares of the Company’s Common Stock (the “Common Stock”) upon initial election and an option to purchase 5,000 shares (7,000 shares for
the Company’s Lead Director) of Common Stock annually thereafter upon re-election at the Company’s annual meeting of stockholders; 

  

	 	•	 	following each annual meeting of stockholders, each eligible director who served as a member of a committee of the Board of Directors during the preceding fiscal year is granted an
additional option to purchase (i) 2,000 shares of Common Stock if such director served as chairperson of such committee or (ii) 1,000 shares of Common Stock if such director did not serve as chairperson of such committee; 

 

	 	•	 	$12,000 ($15,000 for the Company’s Lead Director) per year for their services as directors; 

  

	 	•	 	$1,000 ($1,500 for the Company’s Lead Director) for each meeting of the Board of Directors that they attend in person; 

  

	 	•	 	$500 for each telephonic meeting of the Board of Directors that they attend; 

  

	 	•	 	$500 for each committee meeting that they attend; and 

  

	 	•	 	expense reimbursement for attending Board of Directors and committee meetings.Summary of Compensation - Named Executive Officers

 Exhibit 10.44 
  
 COMPENSATION OF EXECUTIVE OFFICERS OF NMT MEDICAL, INC. 
  
 As of March 21, 2005, the following represents the compensation of the executive officers of NMT Medical, Inc. (the
“Company”): 
  

										
	 	  	2005 Compensation

	 Executive Officer

	  	Annual
Salary

	  	Bonus for Work
Performed in 2004

	 	 	Shares Underlying
Stock Options
Granted in 2005

	 John E. Ahern
President and Chief Executive Officer
	  	$	350,000	  	$	52,500	(1)	 	—  
	 Richard E. Davis
Vice President and Chief Financial Officer
	  	$	280,000	  	$	75,000	(2)	 	—  

  

	(1)	Mr. Ahern’s bonus was paid in accordance with the terms of that certain Amended and Restated Employment Agreement that he entered into with the Company on December 31, 2002,
which is filed as an exhibit to the Company’s Annual Report on Form 10-K as filed with the Securities and Exchange Commission (“SEC”) on March 20, 2003. 

  

	(2)	Mr. Davis’ bonus was paid in accordance with the terms of that certain Amended and Restated Employment Agreement that he entered into with the Company on May 20, 2004, which is
filed as an exhibit to the Company’s Quarterly Report on Form 10-Q as filed with the SEC on August 10, 2004.Term Loan Agreement Amendment, dated March 18, 2005

 Exhibit 10.1 
  
 FIRST AMENDMENT 
  
 THIS FIRST AMENDMENT dated as of March 18, 2005 (this “Amendment”) is to the Term Loan Agreement (the “Loan Agreement”)
dated as of February 11, 2005 among BRIGGS & STRATTON CORPORATION, a Wisconsin corporation (the “Company”), various financial institutions and BANK OF AMERICA, N.A., as Administrative Agent (in such capacity, the
“Administrative Agent”). Capitalized terms used but not defined herein have the respective meanings set forth in the Loan Agreement. 
  
 WHEREAS, the Company, the Banks and the Administrative Agent have entered into the Loan Agreement; and 
  
 WHEREAS, the parties hereto desire to amend the Loan Agreement to (a) add the
parties listed on the signatures hereof under the heading “New Banks” (collectively the “New Banks”) as “Banks” thereunder; and (b) make certain other changes as set forth herein; 
  
 NOW, THEREFORE, in consideration of the premises and for other good and
valuable consideration (the receipt and sufficiency of which are hereby acknowledged), the parties hereto agree as follows: 
  
 SECTION 1 AMENDMENT. Effective on (and subject to the occurrence of) the Amendment Effective Date (as defined below), the Loan Agreement shall be
amended as set forth below. 
  
 1.1 Cover Page. The cover
page of the Loan Agreement is amended by inserting the following under the line reading “THE FINANCIAL INSTITUTIONS PARTY HERETO,”: 
  
 “U.S. BANK NATIONAL ASSOCIATION, 
 as
Documentation Agent,” 
  
 1.2 Section 8.11.3. Section
8.11.3 is amended in its entirety to read as follows: 
  
 “Minimum Net Worth. The Company shall not at any time permit Consolidated Net Worth to be less than the sum of (i) $575,000,000 plus (ii) 50% of Consolidated Net Income earned in each full fiscal quarter ending after May
28, 2004 (with no deduction for a net loss in any such fiscal quarter) plus (iii) the proceeds of any Equity Issuance after May 28, 2004 (net of the direct costs of such issuance, such as sales and underwriter’s commissions and legal,
accounting and investment banking fees).” 
  
 1.3 Section
10.13. Section 10.13 is amended in its entirety to read as follows: 
  
 “Other Agents. None of the Banks identified on the cover page or the signature pages of this Agreement or otherwise herein, or in any amendment hereof or other document related hereto, as being the
“Documentation Agent” or the “Syndication Agent” (collectively, the “Other Agents”) shall have any right, power, obligation, liability, responsibility or duty under this Agreement in such capacity other than
those applicable to all Banks. Without limiting the 

 
foregoing, none of the Banks or other Persons so identified shall have or be deemed to have any fiduciary relationship with any Bank. Each Bank acknowledges
that it has not relied, and will not rely, on any Other Agent in deciding to enter into this Agreement or in taking or not taking action hereunder.” 
  
 1.4 Schedule 2.1. Schedule 2.1 is replaced by Schedule 2.1 attached hereto. 
  
 1.5 Schedule 11.2. Schedule 11.2 is replaced by Schedule 11.2 attached hereto. 
  
 SECTION 2 REPRESENTATIONS AND WARRANTIES. The Company represents and
warrants to the Administrative Agent and the Banks on the Amendment Effective Date that (a) the representations and warranties made in Section 6 of the Loan Agreement are true and correct on and as of the Amendment Effective Date with the same
effect as if made on and as of the Amendment Effective Date (except to the extent such representations and warranties expressly refer to an earlier date, in which case they were true and correct as of such earlier date); (b) no Event of Default or
Default exists or will result from the execution and delivery of this Amendment; (c) no event or circumstance has occurred since the Closing Date that has resulted, or would reasonably be expected to result, in a Material Adverse Effect; (d) the
execution and delivery by the Company of this Amendment, the execution and delivery by the Company of the New Notes (as defined below), the performance by the Company of its obligations under the Loan Agreement as amended hereby (as so amended, the
“Amended Agreement”) and under the New Notes (i) are within the corporate powers of the Company, (ii) have been duly authorized by all necessary corporate action on the part of the Company, (iii) have received all necessary
governmental approval and (iv) do not and will not (x) contravene the terms of the Organization Documents of the Company, (y) conflict with or result in any breach or contravention of, or the creation of any Lien under, any document evidencing any
material Contractual Obligation to which the Company or any of its Subsidiaries is a party or any order, injunction, writ or decree of any Governmental Authority to which the Company or any of its Subsidiaries or its property is subject or (z)
violate any Requirement of Law applicable to the Company or any of its Subsidiaries; and (e) each of the Amended Agreement and each New Note is the legal, valid and binding obligation of the Company, enforceable against the Company in accordance
with its terms, except as enforceability may be limited by applicable bankruptcy, insolvency or similar laws affecting the enforcement of creditors’ rights generally or by equitable principles relating to enforceability. 
  
 SECTION 3 EFFECTIVENESS. The amendments set forth in Section 1
above shall become effective on the date (the “ Amendment Effective Date”) when the Administrative Agent shall have received (a) a counterpart of this Amendment executed by each of the parties hereto (or, in the case of any party
from which the Administrative Agent has not received a counterpart hereof, facsimile confirmation of the execution of a counterpart hereof by such party) and (b) each of the following documents, each in form and substance satisfactory to the
Administrative Agent: 
  
 3.1 Notes. New Notes,
substantially in the form of Exhibit A to the Loan Agreement, payable to the order of each Bank requesting the same pursuant to Section 3.2 of the Amended Agreement (collectively, the “New Notes”). 
  

 2 

 3.2 Confirmation. A Confirmation substantially in the form of Attachment 1 hereto, signed
by each Guarantor. 
  
 3.3 Other Documents. Such other
documents as the Administrative Agent or any Bank (including any New Bank) may reasonably request in connection with the Company’s authorization, execution and delivery of this Amendment. 
  
 SECTION 4 ADDITION OF BANKS. On the Amendment Effective Date, (a) each
New Bank (i) shall deliver to the Administrative Agent immediately available funds in the amount of its Percentage (after giving effect hereto) of all outstanding Loans on such date, (ii) it shall become a “Bank” under and for all purposes
of the Amended Agreement and (iii) it shall be bound by the Amended Agreement, and shall be entitled to the benefits of the Amended Agreement and each other Loan Document, as if it were an original party to the Loan Agreement; and (b) the amount of
each Bank’s Loan and each Bank’s Percentage shall be as set forth on Schedule 2.1 hereto. 
  
 SECTION 5 MISCELLANEOUS. 
  
 5.1 Continuing Effectiveness, etc. As herein amended, the Loan Agreement shall remain in full force and effect and is hereby ratified and confirmed
in all respects. After the Amendment Effective Date, all references in the Loan Agreement, each other Loan Document and any related document to the “Loan Agreement” or similar terms shall refer to the Amended Agreement. 
  
 5.2 Counterparts. This Amendment may be executed in any number of
counterparts and by the different parties on separate counterparts, and each such counterpart shall be deemed to be an original but all such counterparts shall together constitute one and the same Amendment. 
  
 5.3 Expenses. The Company agrees to pay the reasonable costs and
expenses of the Administrative Agent (including Attorney Costs) in connection with the preparation, execution and delivery of this Amendment. 
  
 5.4 Governing Law. This Amendment shall be a contract made under and governed by the internal laws of the State of Illinois. 
  
 5.5 Successors and Assigns. This Amendment shall be binding upon the
Company, the Banks and the Administrative Agent and their respective successors and assigns, and shall inure to the benefit of the Company, the Banks and the Administrative Agent and the successors and assigns of the Banks and the Administrative
Agent. 
  
 5.6 Existing Banks. Each of Bank of America,
N.A., in its individual capacity, and LaSalle Bank National Association (each, an “Existing Bank”) represents and warrants to each New Bank (and not to any other Person) that (a) immediately prior to the effectiveness hereof, it is
the legal and beneficial owner of 75% and 25%, respectively, of the outstanding Loans under the Loan Agreement, free and clear of any Lien; (b) immediately after giving effect to the effectiveness hereof (assuming that each New Bank performs its
obligations hereunder), the amount of its Loan and its Percentage shall be as set forth on Schedule 2.1; and (c) it has full power and authority, and has taken all action necessary, to execute and deliver this Amendment 

  

 3 

 
and to consummate the transactions contemplated hereby (including the reallocation of the Loans as contemplated herein). Each New Bank represents and
warrants to each Existing Bank that (i) it has received a copy of the Loan Agreement, together with copies of such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this
Amendment; (ii) it has made such analysis and decision independently and without reliance on the Administrative Agent, any Existing Bank or any other New Bank; and (iii) it will perform in accordance with their terms all of its obligations under the
Loan Agreement. Each New Bank acknowledges and agrees that all interest accrued prior to the Amendment Effective Date is for the account of the Existing Banks. 
  

[Signature Pages Follow] 
  

 4 

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their respective
officers thereunto duly authorized as of the day and year first above written. 
  

			
	BRIGGS & STRATTON CORPORATION
		
	 By:
	 	 /s/ Carita R Twinem

	 Name:
	 	 Carita R. Twinem

	 Title:
	 	 Treasurer

  

 First Amendment to Term Loan Agreement 

			
	 BANK OF AMERICA, N.A., as Administrative
 Agent and a Bank

		
	 By:
	 	 /s/ Jeffrey A. Armitage

	 Name:
	 	 Jeffrey A. Armitage

	 Title:
	 	 Senior Vice President

  

 First Amendment to Term Loan Agreement 

			
	 LASALLE BANK NATIONAL ASSOCIATION,
 as Syndication Agent and a Bank

		
	 By:
	 	 /s/ Jon Huitink

	 Name:
	 	 Jon Huitink

	 Title:
	 	 Vice President

  

 First Amendment to Term Loan Agreement 

			
	 “NEW BANKS”:

	
	M&I MARSHALL & ILSLEY BANK
		
	 By:
	 	 /s/ Ronald J. Carey

	 Name:
	 	 Ronald J. Carey

	 Title:
	 	 Vice President

		
	 By:
	 	 /s/ Thomas F. Bickelhaupt

	 Name:
	 	 Thomas F. Bickelhaupt

	 Title:
	 	 Vice President

  

 First Amendment to Term Loan Agreement 

			
	 U.S. BANK NATIONAL ASSOCIATION, as
 Documentation Agent and a Bank

		
	 By:
	 	 /s/ Sandra J. Hartay

	 Name:
	 	 Sandra J. Hartay

	 Title:
	 	 Vice President

  

 First Amendment to Term Loan Agreement 

			
	ASSOCIATED BANK NA
		
	 By:
	 	 /s/ Daniel Holzhauer

	 Name:
	 	 Daniel Holzhauer

	 Title:
	 	 Assistant Vice President

  

 First Amendment to Term Loan Agreement 

			
	THE BANK OF NEW YORK
		
	 By:
	 	 /s/ Mark Wrigley

	 Name:
	 	 Mark Wrigley

	 Title:
	 	 Vice President

  

 First Amendment to Term Loan Agreement 

			
	NATIONAL CITY BANK OF THE MIDWEST
		
	 By:
	 	 /s/ Jon R. Hinard

	 Name:
	 	 Jon R. Hinard

	 Title:
	 	 Senior Vice President

  

 First Amendment to Term Loan Agreement 

			
	JPMORGAN CHASE BANK, N.A.
		
	 By:
	 	 /s/ Mike Kelly

	 Name:
	 	 Mike Kelly

	 Title:
	 	 Vice President

  

 First Amendment to Term Loan Agreement 

			
	BNP PARIBAS
		
	 By:
	 	 /s/ Timothy King

	 Name:
	 	 Timothy King

	 Title:
	 	 Managing Director

		
	 By:
	 	 /s/ Gaye Plunkett

	 Name:
	 	 Gaye Plunkett

	 Title:
	 	 Vice President

  

 First Amendment to Term Loan Agreement 

			
	HARRIS TRUST AND SAVINGS BANK
		
	 By:
	 	 /s/ George M. Dluhy

	 Name:
	 	 George M. Dluhy

	 Title:
	 	 Vice President

  

 First Amendment to Term Loan Agreement 

			
	FIFTH THIRD BANK
		
	 By:
	 	 /s/ Megan S. Heisel

	 Name:
	 	 Megan S. Heisel

	 Title:
	 	 Vice President

  

 First Amendment to Term Loan Agreement 

 SCHEDULE 2.1 
  
 LOANS / PERCENTAGES 
  

							
	 Bank

	  	Loan

	  	Percentage

	 
	 Bank of America, N.A.
	  	$	14,062,500	  	11.25	%
	 LaSalle Bank National Association
	  	$	15,625,000	  	12.50	%
	 US Bank, N.A.
	  	$	14,062,500	  	11.25	%
	 M&I Marshall & Ilsley Bank
	  	$	3,125,000	  	2.50	%
	 JPMorgan Chase Bank, N.A.
	  	$	15,625,000	  	12.50	%
	 BNP Paribas
	  	$	17,187,500	  	13.75	%
	 Associated Bank N.A.
	  	$	9,375,000	  	7.50	%
	 The Bank of New York
	  	$	9,062,500	  	7.25	%
	 National City Bank of the Midwest
	  	$	1,875,000	  	1.50	%
	 Harris Trust and Savings Bank
	  	$	15,625,000	  	12.50	%
	 Fifth Third Bank
	  	$	9,375,000	  	7.50	%
	 	  	
	
	  	
	

	 TOTAL
	  	$	125,000,000	  	100	%
	 	  	
	
	  	
	

 SCHEDULE 11.2 
  
 LENDING OFFICES; ADDRESSES FOR NOTICES 
  
 BRIGGS & STRATTON CORPORATION 
  
 12301 W. Wirth Street 
 Wauwatosa, Wisconsin
53222 
 Attn: Carita R. Twinem 
 Telephone: (414) 256-5141

 Facsimile: (414) 256-1128 
  
 BANK OF AMERICA, N.A., as Administrative Agent and as a Bank 
  
 Operations Contact: 
  
 Attention: Sally M. Escosa 
 Telephone: (925) 675-8421 
 Facsimile: (888) 969-2637 
  
 Agency Management Services: 
  
 1455
Market Street, 5th Floor 
 Mail Code CA5-701-05-19 
 San Francisco, CA 94103 
 Attention: Robert J. Rittelmeyer 
 Telephone: (415) 436-2616 
 Facsimile: (415) 503-5099 
  
 Credit Contact: 
  
 231 South LaSalle Street 
 Chicago, IL 60697 
 Attention: Jeff Armitage 
 Telephone: (312) 828-3898 
 Facsimile: (312) 974-8811 

 ASSOCIATED BANK NA 
  
 Operations Contact: 
  
 2870 Holmgren Way 
 Green Bay, WI 54304 
 Attention: Kathy Carter 
 Telephone: (920) 405-2847 
 Facsimile: (920) 405-2798 
  
 Credit Contact: 
  
 401 E. Kilbourn Avenue

 Milwaukee, WI 53202 
 Attention: Daniel Holzhauer 

Telephone: (414) 283-2361 
 Facsimile: (414) 283-2300 
  
 JPMORGAN CHASE BANK, N.A. 
  
 Operations Contact: 
  
 131 S. Dearborn Street 
 Chicago, IL 60603

 Attention: Leah A. Banks 
 Telephone: (312) 732-8918

 Facsimile: (312) 732-2245 
  
 Credit Contact: 
  
 111 E. Wisconsin Avenue 
 Milwaukee, Wisconsin 53202 
 Attention: Jack West 
 Telephone: (414) 765-2613 
 Facsimile: (414) 765-2625 

 BNP PARIBAS 
  
 Operations Contact: 
  
 919 Third Avenue 
 3rd Floor 
 New York, New York 10022 
 Attention: Gabriel Candamo 
 Telephone: (212) 471-6626 
 Facsimile: (212) 471-6695 
  
 Credit Contact: 
  
 209 S. LaSalle Street

 Suite 500 
 Chicago, IL 60604 
 Attention: Curt Price 
 Telephone: (312) 977-2232 
 Facsimile: (312) 977-1380 
  
 LASALLE BANK NATIONAL ASSOCIATION 
  
 Operations Contact: 
  
 411 E. Wisconsin Avenue 
 #1250 
 Milwaukee, WI 53202 
 Attention: Beth Potrykos 
 Telephone: (414) 319-3314 
 Facsimile: (414) 224-0071 
  
 Credit Contact: 
  
 411 E. Wisconsin Avenue 
 Suite 1250 
 Milwaukee, WI 53202 
 Attention: Jon Huitink 
 Telephone: (414) 319-3317 
 Facsimile: (414) 224-0071 

 M&I MARSHALL & ILSLEY BANK 
  
 Operations Contact: 
  
 401 N. Executive Drive 
 Brookfield, WI 53005

 Attention: Nenita Yumanz 
 Telephone: (262) 938-8675

 Facsimile: (262) 938-8684 
  
 Credit Contact: 
  
 770 North Water Street 
 Milwaukee, Wisconsin 53202 
 Attention: Thomas Bickelhaupt 
 Telephone: (414) 765-7944 
 Facsimile: (414) 765-7625 
  
 NATIONAL CITY BANK OF THE MIDWEST 
  
 Operations Contact: 
  
 One NCC Parkway 
 Oshtemo, MI 49077 
 Attention: Marilyn Moore 
 Telephone: (269) 973-1427 
 Facsimile: (269) 973-2405 
  
 Credit Contact: 
  
 One North Franklin 
 Suite 3600 
 Chicago, IL 60606 
 Attention: Jon R. Hinard 
 Telephone: (312) 384-4624 
 Facsimile: (312) 240-0301 

 THE BANK OF NEW YORK 
  
 Operations Contact: 
  
 One Wall Street, 19th Floor 
 New York, New York 10286 
 Attention:
Edgar Greaves 
 Telephone: (212) 635-6687 
 Facsimile: (212)
635-7923 
  
 Credit Contact: 
  
 1 Wall Street, 19th Floor 
 New York, NY 10286 
 Attention: Mark Wrigley 
 Telephone: (212) 635-6867 
 Facsimile: (212) 635-1208 
  
 U.S. BANK NATIONAL ASSOCIATION 
  
 Operations Contact: 
  
 400 City Center 
 Oshkosh, WI 54901 
 Attention: Connie Sweeney 
 Telephone: (920) 237-7604 
 Facsimile: (920) 237-7993 
  
 Credit Contact: 
  
 777 East Wisconsin Avenue 
 Milwaukee, Wisconsin 53202 
 Attention: Sandra J. Hartay 
 Telephone: (414) 765-6004 
 Facsimile: (414) 765-5367 

 HARRIS TRUST AND SAVINGS BANK 
  
 Operations Contact: 
  
 111 W. Monroe 
 Chicago, IL 60603 
 Attention: Ellen Dancer 
 Telephone: (312) 461-2587 
 Facsimile: (312) 461-8344 
  
 Credit Contact: 
  
 111 W. Monroe

 Chicago, IL 60603 
 Attention: George Dluhy 
 Telephone: (312) 461-7788 
 Facsimile: (312) 461-2591 
  
 FIFTH THIRD BANK 
  
 Operations Contact: 
  
 38 Fountain Square Plaza 
 Cincinnati, OH 45202

 Attention: Teresa Weyer 
 Telephone: (513) 534-6293 

Facsimile: (513) 534-5947 
  
 Credit Contact: 
  
 38 Fountain Square
Plaza 
 Cincinnati, OH 45202 
 Attention: Ann-drea Burns

 Telephone: (616) 550-4700 
 Facsimile: (513) 534-5947

 ATTACHMENT 1 
  
 CONFIRMATION 
  
 Dated as of March 18, 2005 
  

			
	 To:    
	 	 Bank of America, N.A., as Administrative Agent, and

	 	 	 the Banks under the Loan Agreement referred to below

  
 Please refer to (a)
the Loan Agreement dated as of February 11, 2005 (the “Loan Agreement”) among Briggs & Stratton Corporation (the “Company”), various financial institutions, and Bank of America, N.A., as Administrative Agent;
(b) the First Amendment dated as of March 18, 2005 (the “Amendment”), amending the Loan Agreement to, among other things, add additional “Banks” as parties thereto; and (c) the Guaranty dated as of February 11, 2005 (the
“Guaranty”) issued by the undersigned. Capitalized terms used but not defined herein have the respective meanings set forth in the Amendment. 
  

Each of the undersigned hereby confirms to the Administrative Agent and the Banks (including the New Banks) that (a) after giving effect to the
Amendment and the transactions contemplated thereby, the Guaranty continues in full force and effect and is the legal, valid and binding obligation of such undersigned, enforceable against such undersigned in accordance with its terms, except as may
be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws relating to or limiting creditors’ rights generally or by equitable principles relating to enforceability; and (b) all references in the Guaranty to the “Loan
Agreement” shall be deemed to be references to the Loan Agreement as amended by the Amendment. 
  

			
	 BRIGGS & STRATTON POWER PRODUCTS
 GROUP, LLC

		
	 By:
	 	 /s/ Carita R. Twinem

	 Name:
	 	 Carita R. Twinem

	 Title:
	 	 Treasurer

	
	SIMPLICITY MANUFACTURING, INC.
		
	 By:
	 	 /s/ Carita R. Twinem

	 Name:
	 	 Carita R. Twinem

	 Title:
	 	 Treasurer

  

 First Amendment to Term Loan Agreement

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