Document:

exv4wxfyx94y

 

EXECUTION COPY

FIRST AMENDMENT TO CERTIFICATE FUNDING AGREEMENT

(CREDIT ACCEPTANCE RESIDUAL FUNDING LLC)

THIS FIRST AMENDMENT TO THE CERTIFICATE FUNDING AGREEMENT, dated as of September 11, 2007 (this
“Amendment”), is entered into in connection with that certain Certificate Funding
Agreement, dated as of September 20, 2006 (as amended, supplemented, restated or replaced from time
to time, the “Certificate Funding Agreement”), by and among Credit Acceptance Residual
Funding LLC, as the Borrower, Credit Acceptance Corporation, as the Administrator, Wachovia Bank,
National Association, as an Investor and the other Investors from time to time party thereto,
Variable Funding Capital Company LLC, as a CP Conduit and a Lender and the other CP Conduits from
time to time party thereto, Wachovia Capital Markets, LLC, as the Deal Agent and the Collateral
Agent and Wachovia Bank, National Association,

as the Liquidity Agent for the VFCC Purchaser Group. Capitalized terms used and not otherwise
defined herein shall have the meanings given to such terms in the Certificate Funding Agreement.

R E C I T A L S

     WHEREAS, the above-named parties have entered into the Certificate Funding Agreement, and,
pursuant to and, in accordance with Section 14.1 thereof, the parties hereto desire to amend and
waive the Agreement in certain respects as provided herein;

     NOW, THEREFORE, based upon the above Recitals, the mutual premises and agreements contained
herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the undersigned, intending to be legally bound, hereby agree as follows:

     SECTION 1. AMENDMENT.

     (a) The definition of “Maximum Facility Advance Rate” in Section 1.1 of the Certificate
Funding Agreement is hereby amended and restated in its entirety as follows: “Maximum
Facility Advance Rate: 70.0%.”

     (b) The definition of “Commitment Termination Date” in Section 1.1 of the Certificate Funding
Agreement is hereby amended and restated in its entirety as follows:

     “Commitment Termination Date: With respect to each Purchaser Group, September 9,
2008, or with respect to each Purchaser Group, such later date to which the Commitment Termination
Date may be extended in the sole discretion of such Purchaser Group in accordance with the terms of
Section 2.1(b).”

     SECTION 2. AGREEMENT IN FULL FORCE AND EFFECT AS AMENDED.

     Except as specifically amended or waived hereby, all provisions of the Certificate Funding
Agreement shall remain in full force and effect. This Amendment shall not be deemed to expressly
or impliedly waive, amend or supplement any provision of the Certificate Funding Agreement other
than as expressly set forth herein, shall constitute a one-time waiver only and shall not
constitute a novation of the Certificate Funding Agreement.

 

 

     SECTION 3. REPRESENTATIONS.

     Each of the Borrower and Administrator represent and warrant as of the date of this Amendment
as follows:

     (i) it is duly incorporated or organized, validly existing and in good standing under
the laws of its jurisdiction of incorporation or organization;

     (ii) the execution, delivery and performance by it of this Amendment are within its
powers, have been duly authorized, and do not contravene (A) any of its organizational
documents, or (B) any Applicable Law;

     (iii) no consent, license, permit, approval or authorization of, or registration,
filing or declaration with any governmental authority, is required in connection with the
execution, delivery, performance, validity or enforceability of this Amendment by or against
it;

     (iv) this Amendment has been duly executed and delivered by it;

     (v) this Amendment constitutes its legal, valid and binding obligation, enforceable
against it in accordance with its terms, except as enforceability may be limited by
applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the
enforcement of creditors’ rights generally or by general principles of equity;

     (vi) it is not in default under the Certificate Funding Agreement; and

     (vii) there is no Termination Event or Unmatured Termination Event.

     SECTION 4. CONDITIONS TO EFFECTIVENESS.

     The effectiveness of this Amendment is conditioned upon (i) delivery of executed signature
pages by all parties hereto to the Deal Agent, (ii) the execution and delivery of the Amended and
Restated Fee Letter Agreement and (iii) payment to the Deal Agent of the Renewal Fee in connection
with this Amendment as required by the Amended and Restated VFCC Fee Letter Agreement.

     SECTION 5. MISCELLANEOUS.

     (a) This Amendment may be executed in any number of counterparts (including by facsimile), and
by the different parties hereto on the same or separate counterparts, each of which shall be deemed
to be an original instrument but all of which together shall constitute one and the same agreement.

     (b) The descriptive headings of the various sections of this Amendment are inserted for
convenience of reference only and shall not be deemed to affect the meaning or construction of any
of the provisions hereof.

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     (c) This Amendment may not be amended or otherwise modified except as provided in the
Certificate Funding Agreement.

     (d) The failure or unenforceability of any provision hereof shall not affect the other
provisions of this Amendment.

     (e) Whenever the context and construction so require, all words used in the singular number
herein shall be deemed to have been used in the plural, and vice versa, and the masculine gender
shall include the feminine and neuter and the neuter shall include the masculine and feminine.

     (f) This Amendment represents the final agreement between the parties only with respect to the
subject matter expressly covered hereby and may not be contradicted by evidence of prior,
contemporaneous or subsequent oral agreements between the parties. There are no unwritten oral
agreements between the parties.

     (g) THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS AMENDMENT SHALL BE
GOVERNED BY AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK
WITHOUT REFERENCE TO ITS CONFLICT OF LAWS PROVISIONS.

[Remainder of Page Intentionally Left Blank]

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

	 	 	 
	THE BORROWER:

	 	CREDIT ACCEPTANCE RESIDUAL
	 

	 	FUNDING LLC
	 
	 	 
	 

	 	By: /s/ Douglas W. Busk
	 

	 	Name: Douglas W. Busk
	 

	 	Title: Treasurer
	 
	 	 
	 

	 	Credit Acceptance Residual Funding LLC
	 

	 	Silver Triangle Building
	 

	 	25505 West Twelve Mile Road
	 

	 	Southfield, Michigan 48034-8339
	 

	 	Attention: Wendy A. Rummler
	 

	 	Facsimile No. 866-249-3138
	 

	 	Confirmation No.: 248-353-2700 (ext. 4217)
	 
	 	 
	THE ADMINISTRATOR:

	 	CREDIT ACCEPTANCE CORPORATION
	 
	 	 
	 

	 	By: /s/ Douglas W. Busk

	 

	 	Name: Douglas W. Busk
	 

	 	Title: Treasurer
	 
	 	 
	 

	 	Credit Acceptance Residual Funding LLC
	 

	 	Silver Triangle Building
	 

	 	25505 West Twelve Mile Road
	 

	 	Southfield, Michigan 48034-8339
	 

	 	Attention: Wendy A. Rummler
	 

	 	Facsimile No. 866-249-3138
	 

	 	Confirmation No.: 248-353-2700 (ext. 4217)

[SIGNATURES CONTINUED ON THE FOLLOWING PAGE]

CAC: First Amendment to Certificate Funding Agreement

 

 

	 	 	 
	THE INVESTOR

	 	WACHOVIA BANK, NATIONAL
	FOR THE VFCC

	 	ASSOCIATION
	PURCHASER GROUP:
	 	 
	 

	 	By: /s/ Kevin McConnell
	 

	 	Name: Kevin McConnell
	 

	 	Title: Managing Director
	 
	 	 
	 

	 	Wachovia Bank, National Association
	 

	 	One Wachovia Center
	 

	 	301 South College St.
	 

	 	Charlotte, North Carolina 28288-0661
	 

	 	Attention: Kevin McConnell
	 

	 	Facsimile No.: (704) 383-8471
	 

	 	Confirmation No: (704) 383-7171
	 
	 	 
	VFCC:

	 	VARIABLE FUNDING CAPITAL
	 

	 	COMPANY LLC
	 
	 	 
	 

	 	By: Wachovia Capital Markets, LLC,
	 

	 	       as attorney-in-fact
	 
	 	 
	 

	 	By: /s/ Douglas R. Wilson Sr.
	 

	 	Name: Douglas R. Wilson Sr.
	 

	 	Title: Director
	 
	 	 
	 

	 	Variable Funding Capital Company LLC
	 

	 	c/o Wachovia Capital Markets, LLC
	 

	 	One Wachovia Center
	 

	 	301 South College St.
	 

	 	Charlotte, North Carolina 28288-0610
	 

	 	Attention: Conduit Administration
	 

	 	Facsimile No.: (704) 383-9579
	 

	 	Confirmation No.: (704) 374-2520

[SIGNATURES CONTINUED ON THE FOLLOWING PAGE]

CAC: First Amendment to Certificate Funding Agreement

 

 

	 	 	 
	THE DEAL AGENT:

	 	WACHOVIA CAPITAL MARKETS, LLC
	 
	 	 
	 

	 	By: /s/ Chad Kobos
	 

	 	Name: Chad Kobos
	 

	 	Title: Director
	 
	 	 
	 

	 	Wachovia Capital Markets, LLC
	 

	 	One Wachovia Center
	 

	 	Charlotte, North Carolina 28288-0610
	 

	 	Attention: Justin Zakocs
	 

	 	Facsimile No.: (704) 383-7184
	 

	 	Telephone No.: (704) 715-8184
	 
	 	 
	THE LIQUIDITY AGENT

	 	WACHOVIA BANK, NATIONAL
	FOR THE VFCC

	 	ASSOCIATION
	PURCHASER GROUP:
	 	 
	 

	 	By: /s/ Kevin McConnell
	 

	 	Name: Kevin McConnell
	 

	 	Title: Managing Director
	 
	 	 
	 

	 	Wachovia Bank, National Association
	 

	 	One Wachovia Center
	 

	 	301 South College St.
	 

	 	Charlotte, North Carolina 28288-0661
	 

	 	Attention: Kevin McConnell
	 

	 	Facsimile No.: (704) 383-8471
	 

	 	Telephone No.: (704) 383-7171

[SIGNATURES CONTINUED ON THE FOLLOWING PAGE]

CAC: First Amendment to Certificate Funding Agreement

 

 

	 	 	 
	THE COLLATERAL AGENT:

	 	WACHOVIA CAPITAL MARKETS, LLC, as

Collateral Agent
	 
	 	 
	 

	 	By: /s/ Chad Kobos
	 

	 	Title: Director
	 
	 	 
	 

	 	Wachovia Capital Markets, LLC
	 

	 	One Wachovia Center, TW-9
	 

	 	 Charlotte, North Carolina 28288
	 

	 	 Attention: Justin Zakocs
	 

	 	         
       Conduit Administration
	 

	 	Facsimile No.: (704) 383-7184
	 

	 	Telephone No.: (704) 715-8184

 CAC: First Amendment to Certificate Funding Agreementexv10w1

 

Exhibit 10.1

August 13, 2007

Robert Van Buskirk

Dear Bob:

On behalf of RF Micro Devices, Inc., (“RFMD” or the “Company”), I am pleased to extend to you the
following offer of employment. The title of your position will be President Multi-Market Products
Group, reporting to Bob Bruggeworth, the Company’s CEO. As President of the Multi-Market Products
Group, your responsibilities will include general management of the Multi-Market business group,
new business development, and participation in the executive management team of the Company as a
Section 16 officer. We believe you will find great opportunity and professional challenge at RFMD,
where you will contribute to the success of a world-class organization.

This offer is contingent on the successful closing of the merger contemplated by the Agreement and
Plan of Merger by which RFMD is to acquire Sirenza Micro Devices, Inc. (the “Merger”). If you
accept this offer and remain employed by Sirenza through the closing date, its terms will become
effective and binding upon the Company and you as of the date of such closing. If the Merger does
not close, this offer shall be null and void, and even if accepted, shall not be binding on RFMD or
on you.

This offer is contingent on your waiver of any and all right or entitlement to severance benefits
in connection with the Merger or any other event, including, but not limited to, the termination of
your employment with Sirenza. By accepting this offer, you specifically agree to waive all rights
to the severance benefits (including but not limited to the acceleration of vesting of any stock
awards you may hold) set forth in subsection E “Involuntary Termination” of Section X “Termination
of Employment” of that certain Employment Agreement between you and Sirenza dated August 1, 2003
(“Employment Agreement”). Further, you expressly agree (i) that RFMD shall not assume any terms of
the Employment Agreement, (ii) that acceptance of this offer of employment on the terms set forth
herein shall not constitute a failure by Sirenza to obtain assumption of the Employment Agreement
by a successor as set forth in subsection G.2.g of section X of the Employment Agreement, (iii)
that you irrevocably waive your rights under such subsection to have the Employment Agreement
assumed by RFMD or any other successor to Sirenza, and (iv) that you have not otherwise suffered,
based on facts and circumstances in existence on the date hereof (including but not limited to the
terms of this letter agreement), events that would give rise to a “change in duties, compensation
or benefits” (as defined in the Employment Agreement).

Your starting salary will be $14,423.08 per bi-weekly pay period, which equates to an annual
exempt salary of $375,000. You will be considered for salary increases based on performance and
your contributions to the overall performance of RFMD.

 

 

You will be eligible to participate in the Company’s “Employee Cash Bonus Plan” at a target bonus
of 75% of your base salary paid during the annual bonus performance period with a maximum bonus of
200% of your target bonus amount, subject to payroll withholding. Your bonus under the Employee
Cash Bonus Plan for fiscal year 2008 will be prorated and will be based on the Company’s
attainment of its performance objectives. Commencing with the Company’s FY 2009, (April 1, 2008),
your bonus will be calculated in accordance with the terms of the Company’s Employee Cash Bonus
Plan process.

Subject to approval by the Company’s Board of Directors, which is expected to be obtained on or
about the Closing Date, and pursuant to the Company’s 2003 Stock Incentive Plan (the “Plan”), the
Company will grant you a restricted stock award covering an amount of Company common stock
equivalent to $600,000 calculated as of the Date of Closing (the “Stock Award”). The Stock Award
will be subject to the terms and conditions of the Plan and the standard form of restricted stock
award agreement thereunder. The Stock Award will vest as to one half of the shares subject to the
Stock Award on the second anniversary of the closing date and one half on the third anniversary of
the closing date “Vesting Date”), subject to your continued employment with the Company.

You hereby agree that you may not sell, pledge, transfer or dispose of any of the shares of the
Company’s common stock that you receive in the Merger (the “Merger Shares”), or any interest in
any Merger Shares for a period of one year following the effective date of the Merger; provided,
however, that during each of the four consecutive three-month periods commencing on the effective
date of the Merger, you may sell up to 30,000 Merger Shares, pursuant to the terms of a written
plan, a copy of which you have provided to the Company on or before the effective date of the
Merger, that meets all of the requirements of Rule 10b5-1(c) under the Securities Exchange Act of
1934.

Your service with Sirenza will be recognized by RFMD for those benefits that vest according to
service. As an RFMD employee, you will accrue vacation and sick days under the RFMD policies and
procedures based on your years of service with Sirenza but in no event shall you receive less than
twenty five (25) vacation days per calendar year. The Company will carry over your hours of
accrued vacation/Paid Time Off (PTO) from your Sirenza account to your RFMD vacation account.

You will be provided with coverage under the various plans that comprise the RFMD Benefits
Program. The eligibility dates and any applicable employee contributions for the Life, Medical and
Dental Insurance, Long Term Disability Insurance and the 401(k) Plan vary and are detailed in the
summary plan descriptions. These benefits and policies are reviewed on a regular basis and are
subject to change at the discretion of RFMD.

 

 

In the event of a Change in Control subsequent to the commencement of your employment with RFMD,
you will be eligible for the Change in Control benefits set forth in the Change of Control
Agreement (which is enclosed).

Initially, you will work from RFMD’s Broomfield, Colorado facility. As soon as practical following
the commencement of your employment, your full time employment will be based in RFMD’s corporate
headquarters in Greensboro, North Carolina. In order to assist you in your move to Greensboro,
RFMD has engaged Prudential Relocation Services. To help defray some of the additional taxes that
you may incur, an adjustment will be made in an amount determined by RFMD for those relocation
allowances that are considered to be taxable income under applicable IRS rules.

Your employment with RFMD will be “at will.” This means that either RFMD or you can terminate the
employment relationship at any time with or without stated reason. Neither this letter nor any
other documents or statements made to you should be considered by you, either expressly or by
implication, as a contract of employment for a specific duration.

As a condition of your employment, you will be required to sign an Inventions, Confidentiality,
and Non-Solicitation Agreement (which is enclosed) and a Non-Competition Agreement (which is enclosed) prior to the commencement of employment. This is done to enable us to protect
RFMD proprietary information. We request that you sign and return this Agreement with your
acceptance of employment as outlined below. This will confirm our understanding that there is no
agreement, written or otherwise, that would prevent you from becoming employed with RFMD.

At the commencement of your employment, you will be required to provide documents which verify
your identity and employment eligibility pursuant to federal immigration law requirements.

This offer letter, together with the Change in Control Agreement, the Inventions, Confidentiality,
and Non-Solicitation Agreement, and the Non-Competition Agreement states our whole agreement with
reference to your employment and relocation and replaces any prior written or oral statements
between RFMD or Sirenza and you. The terms of this offer may not be modified except in writing and
mutually agreed upon by the parties.

RF Micro Devices is a rapidly growing company in which your contributions will be valued. Our
employees play an important role in the ongoing technical achievements that will enable RFMD to
accomplish our mission “to be the premier supplier of low-cost, high-performance integrated
circuits and solutions — enabling wireless connectivity.”

If you agree to accept the terms of this offer, the Change in Control Agreement, the attached
Inventions, Confidentiality, and Non-Solicitation Agreement, and the Non-Competition Agreement
please countersign all four documents and return them to me.

 

 

	 	 	 	 	 	 	 	 	 
	Sincerely,
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	RF MICRO DEVICES, INC.	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	/s/ Ralph Knupp	 	 	 	 	 	 
	 	 	 	 	 	 	 
	Ralph Knupp	 	 	 	 	 	 
	Vice President, Human Resources	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Accept:

	 	/s/ Robert Van Buskirk
	 	 	Date: 8-13-07
	 	 
	 

	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Start Date: Effective Date of
Closing

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