Document:

EX-10.1.7 LEASE RENEWAL AGREEMENT

 

Exhibit 10.1.7

Via Hand Delivery

January 18, 2008

Mr. Mark Gordon

Controller

Roberts Properties Residential, L.P.

450 Northridge Parkway

Suite 302

Atlanta, Georgia 30350

Re: Lease Renewal Option for 450 Northridge Parkway, Suite 300

Dear Mark:

Please accept this letter as the required notice of Tenant’s exercise of its second of three (3)
one (1) year options to extend the Lease dated March 27, 2006 by and between Roberts Properties
Residential, L.P., a Georgia limited partnership (“Landlord”) and Roberts Properties, Inc., a
Georgia corporation (“Tenant”) (the “Lease”).

As we have agreed, the rental rate will be $20.00 per sq. ft. and the Term shall be extended to
December 31, 2008. Except as expressly stated herein, all other terms and conditions of the Lease
shall remain in full force and effect.

I would appreciate your acknowledging the above terms and conditions and returning an executed copy
of this Lease Agreement to me.

	 	 	 	 
	Sincerely,

	 	AGREED AND ACKNOWLEDGED:	 
	 

	 	Roberts Properties Residential, L.P.	 
	 
	 	 	 
	/s/ Anthony Shurtz

	 	/s/ Mark Gordon	 
	 

	 	 	 
	Anthony Shurtz 

Chief Financial Officer

	 	Mark Gordon, Controller

Roberts Realty Investors, Inc., Sole

General Partner
	 

As08-005Ex-10.1

 

Exhibit 10.1

AMENDMENT NO. 5 AND WAIVER

TO CREDIT AGREEMENT

     AMENDMENT
NO. 5 AND WAIVER, dated as of March 31, 2008 (this “Amendment and Waiver”) to the
Credit Agreement, dated as of January 28, 2005 (as amended, restated, modified or otherwise
supplemented, from time to time, the “Credit Agreement”), by and among NATIONAL MEDICAL HEALTH CARD
SYSTEMS, INC. (the “Borrower”), JPMORGAN CHASE BANK, N.A., as Administrative Agent and the LENDERS
from time to time party thereto (each, a “Lender” and, collectively, the “Lenders”).

     WHEREAS, the Borrower has requested and the Lenders have agreed, subject to the terms and
conditions of this Amendment and Waiver, to amend and waive certain provisions of the Credit
Agreement as set forth herein.

     NOW, THEREFORE, in consideration of the premises and of the mutual agreements herein
contained, the parties hereto agree as follows:

1. Amendments.

     a. The last sentence of the definition of “Commitments” in Section 1.01 of the Credit
Agreement is hereby amended and restated in its entirety to provide as follows:

          “The aggregate amount of the Lenders’ Commitments is $17,307,692.30.”

     b. The definition of the term “Maturity Date” in Section 1.01 of the Credit Agreement is
hereby amended and restated in its entirety to provide as follows:

	 	 	“Maturity Date” means June 30, 2008.

     c. The definition of the term “Required Lenders” in Section 1.01 of the Credit Agreement is
hereby amended and restated in its entirety to provide as follows:

	 	 	“Required Lenders” means all of the Lenders.

     d. Section 6.06 of the Credit Agreement is hereby amended to add the following phrase
immediately preceding the period at the end thereof

	 	 	“and (e) the declaration of any other cash dividend with respect to the Series A
Preferred, provided that such dividend is not paid prior to the Maturity Date.”

     e. Schedule 2.01 of the Credit Agreement is hereby amended and replaced with Schedule 2.01
attached to this Amendment.

2. Waiver. The Lenders hereby waive any and all Defaults and Events of Default that may
have occurred arising directly or indirectly from NMHCRX Mail Order, Inc. granting a Lien on
certain of its assets to AmeriSourceBergen Drug Corporation (the “Amerisource Lien”), provided that
this waiver is granted in reliance that the Amerisource Lien has been terminated as of the date
hereof.

3. Conditions to Effectiveness.

     This Amendment and Waiver shall become effective upon receipt by the Administrative Agent of

 

 

(a) this Amendment and Waiver duly executed by each of the parties hereto, (b) a Secretary’s
Certificate, in form and substance reasonably satisfactory to the Administrative Agent, with copies
of Resolutions of the Board of Directors of the Borrower approving the execution and delivery of
this Amendment and Waiver and certifying that, except as set forth in such Certificate, there have
been no changes to the Borrower’s Certificate of Incorporation and By-laws since the Closing Date,
and (c) an amendment fee equal to $30,000 for the pro-rata distribution to the Lenders.

3. Wachovia Bank, N.A.

     The Borrower, the Lenders and the Administrative Agent hereby acknowledge and agree that
Wachovia Bank, N.A. has decided to terminate its Commitment and to withdraw as a Lender under the
Credit Agreement. The Borrower understands and agrees that the obligations of Wachovia Bank, N.A.
are hereby released and that the total Commitments are reduced to reflect such termination of
Commitment, in accordance with Section 2.09 of the Credit Agreement and this Amendment and Waiver.

4. Miscellaneous.

     The amendments and waiver herein contained are limited specifically to the matters set forth
above and do not constitute directly or by implication a waiver or amendment of any other provision
of the Credit Agreement or a waiver of any Default or Event of Default which may occur or may have
occurred.

     The Borrower hereby agrees to pay all of the Administrative Agent’s reasonable attorneys’ fees
incurred in connection with the preparation, execution and delivery of this Amendment and Waiver,
including all outstanding amounts, promptly following receipt of a statement describing such fees.

     Capitalized terms used herein and not otherwise defined herein shall have the same meanings as
defined in the Credit Agreement.

     Except as expressly amended and waived hereby, or as may have been previously amended or
waived, the Credit Agreement shall remain in full force and effect in accordance with the original
terms thereof.

     The Borrower hereby represents and warrants that (a) after giving effect to this Amendment and
Waiver, the representations and warranties in the Credit Agreement and the other Loan Documents are
true and correct in all material respects as of the date hereof with the same effect as though such
representations and warranties have been made on and as of such date, unless such representation is
as of a specific date, in which case, as of such date, and (b) after giving effect to this
Amendment and Waiver, no Default or Event of Default has occurred and is continuing.

     This Amendment and Waiver may be executed in one or more counterparts, each of which shall
constitute an original, but all of which when taken together shall constitute but one instrument.

     THIS AMENDMENT AND WAIVER SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF
THE STATE OF NEW YORK WITHOUT REGARD TO PRINCIPLES OF CONFLICT OF LAWS.

     This Amendment and Waiver shall constitute a Loan Document.

2

 

     IN WITNESS WHEREOF, the Borrower, the Lenders and the Administrative Agent have caused this
Amendment and Waiver to be duly executed as of the day and year first above written.

	 	 	 	 	 
	 	NATIONAL MEDICAL HEALTH CARD

SYSTEMS, INC.

 	 
	 	By:  	/s/
George McGinn
 	 
	 	Name:  	 	George McGinn	 
	 	Title:  	 	General Counsel	 
	 

	 	 	 	 	 
	 	JPMORGAN CHASE BANK, N.A., as
Administrative Agent and as a Lender

 	 
	 	By:  	/s/ Jules
Panno	 
	 	Name:  	 	Jules Panno	 
	 	Title:  	 	Vice President 	 
	 

	 	 	 	 	 
	 	HSBC BANK USA, NATIONAL
ASSOCIATION, 
as a Lender

 	 
	 	By:  	/s/ Christopher
J. Mendelsohn	 
	 	Name:  	 	Christopher J. Mendelsohn	 
	 	Title:  	 	First Vice President	 

3

 

	 	 	 	 	 

CONSENT

     Each of the undersigned, not parties to the Credit Agreement but each a Guarantor under a
Corporate Guaranty, hereby consents to and acknowledges the terms of the Amendment and Waiver to
which this consent is attached and confirms that its Corporate Guaranty is in full force and effect
and reaffirms its continuing liability under its Corporate Guaranty in respect of the Credit
Agreement as amended and waived hereby and all the documents, instruments and agreements executed
pursuant thereto or in connection therewith, without offset, defense or counterclaim (any such
offset, defense or counterclaim as may exist being hereby irrevocably waived by such guarantor).

NMHCRX MAIL ORDER, INC.

INTEGRAIL, INC. NMHCRX, INC.

INTEQ CORP.

INTEQ TX CORP.

INTEQ PBM, L.P.

PORTLAND PROFESSIONAL PHARMACY

PORTLAND PROFESSIONAL PHARMACY ASSOCIATES

SPECIALTY PHARMACY CARE, INC.

CENTRUS CORPORATION

NATIONAL MEDICAL HEALTH CARD IPA, INC.

NMHCRX CONTRACTS, INC.

INTERCHANGE PMP, INC.

PCN DE CORP.

PHARMACEUTICAL CARE NETWORK

NMHC GROUP SOLUTIONS INSURANCE, INC.

	 	 	 	 	 
	 	 	 
	 	By:  	/s/ Stuart
Diamond	 
	 	 	Stuart Diamond, the Treasurer of each of the 	 
	 	 	foregoing entities 	 

4

 

Schedule 2.01

Lender Commitment Amount

	 	 	 	 	 
	Lender	 	Commitment Amount	 
	JPMorgan Chase Bank, N.A.
	 	$	9,615,384.60	 
	HSBC Bank USA
	 	$	7,692,307.70	 

5EX-10.3.1 Amended Employment Contract

 

Exhibit 10.3.1

AMENDED EMPLOYMENT AGREEMENT

     This Employment Agreement, dated this 8th day of January, 2006, is between Dac Technologies
Group International, Inc., a Florida corporation (the “Company”), and David A. Collins and DAC
Investment & Consulting, Inc.(collectively the “Employee”).

W I T N E S S E T H:

     WHEREAS, the Company desires to employ Employee and to ensure the continued availability to
the Company of the Employee’s services, and the Employee is willing to accept such employment and
render such services, all upon and subject to the terms and conditions contained in this Agreement;

     WHEREAS, the Employee is currently employed by the Company under the terms of an Employment
Agreement dated December 1, 2000;

     WHEREAS, the Employee is vital to the continued success of the Company and the Company desires
to insure the continued employment of Employee the term of the existing Employment Agreement;

     NOW, THEREFORE, in consideration of the promises and the mutual covenants set forth in this
Agreement, and intending to be legally bound, the Company and the Employee agree as follows:

1.     Term of Employment.

(a)     Term. The Company hereby employs the Employee, and the Employee hereby accepts
employment with the Company, for a five (5) year period commencing on the date of this Agreement
(the “Stated Term”). Thereafter unless Employee has been terminated in accordance with Paragraph 5
below, the Agreement shall be renewable for three (3) additional five year periods, under the same
terms and conditions contained herein, at the option of Employee. Exercise of said option shall be
in writing no less than 90 days prior to the expiration of the original five year period or
subsequent five year option periods.

(b)     Continuing Effect. Notwithstanding any termination of this Agreement at the end of the
Stated Term or any option period, the provisions of Sections 7 and 8 shall remain in full force and
effect.

2.     Duties.

(a)     General Duties. The Employee shall serve as Chairman and Chief Executive Officer of the
Company, with duties and responsibilities that are customary for such Employee under Florida law or
other laws.

1

 

(b)     Sales duties. Employee shall also actively engage in sales activities on behalf of the
Company, including, but not limited to, the direct solicitation of potential customers, retaining
and motivating independent sales representatives, development of new products, and any other duties
as may normally be expected of a sales manager.

(c)     Devotion of Time. The Employee will devote such time, attention and energies during
normal business hours (exclusive of periods of sickness and disability and of such normal holiday
and vacation periods as have been established by the Company) to the affairs of the Company which
he believes to be reasonably necessary to effectuate the Company’s goals.

(d)     Location. The Employee will perform his services at the Company offices located in the
Miami, Florida area, or at such other location of the Employee’s choice, so long as there are no
additional costs to the Company.

3.     Compensation and Expenses.

(a)      Salary. For services of the Employee to be rendered under this Agreement, the
Company will pay the Employee an annual base salary of $120,000 per annum during the first
year of this Agreement. For each subsequent year, Employee shall receive a 10% increase in
base salary, assuming that the Company is profitable. The previous agreement also provided
for 10% annual increases, which Employee did not receive. Employee agrees to forego those
prior increases. The Company will pay the Employee his annual salary in equal installments no
less frequently than semi-monthly. Bonuses or other benefits may also be awarded at the
Company’s discretion.

(b)      Commissions. Employee shall be paid a commission on all sales generated by the
accounts/customers of Employee (i.e. Wal Mart, Kmart, Walgreens, etc.) during the term of this
Agreement. Commission rates shall be 3% for OEM gun manufacturers and 5% for all other
customers. Commissions shall be paid to Employee no less frequently that monthly.

(c)     Expenses. The Company will pay for all travel, entertainment and miscellaneous expenses
incurred in connection with the performance of Employee’s duties under this Agreement.

(d)      Payee. Employee shall have the discretion to designate the recipient of the
compensation called for in this Agreement. Such designation shall be in writing, and may
be changed from time to time by the Employee.

4.     Benefits.

(a)     Vacation. Employee shall be entitled to three weeks paid vacation in each calendar year
during the term of this Agreement.

2

 

(b)     Medical. Employee shall receive at no cost to Employee, medical and dental insurance
for Employee and any eligible dependents under any such plans that the Company has in effect.

(c)      Stock Options. The Company has established an Employee Non-Qualified Stock Option
Plan (“Stock Option Plan”). Employee shall be granted options to purchase a minimum of 35,000
shares of the Company’s stock during each year of this Agreement, under such terms and
conditions as established by the Company’s Stock Option Plan. The Company may, at its
discretion, award additional options to Employee in excess of 35,000 per year. Employee may,
at his discretion, elect to defer the granting of a portion or all of the options for any year
to future periods, without loss of the cumulative effect of such deferral.

(d)     Allowances. The Company shall provide an office/automobile allowance to Employee, at an
amount not to exceed $7,500 per month. The Company shall also be responsible for all costs
associated with operating said office, including but not limited to telephones, utilities,
maintenance, supplies, office equipment and any other costs or services associated with maintaining
an office adequate for the performance of the Employee’s duties under this Agreement.

5.     Termination.

(a)     Termination
Without Cause - By The Company. The Company may not terminate this
Agreement without cause.

(b)     Termination
Without Cause - by the Employee. The Employee may terminate this Agreement
at any time upon 30 days advance written notice to the Company. Employee agrees to perform all
duties up to the date of termination. In the event that a competent replacement can not be found
by the Company during the 30 day notice period, Employee agrees to extend the notice period and
continue to perform his duties until such replacement can be obtained, but in no circumstance will
Employee be required to extend the notice period more than an additional 60 days. Should Employee
elect to terminate this Agreement under the terms of this paragraph, the Company will discontinue
payment of benefits as provided in Section 4, except that, any stock options already granted will
remain in force under the terms and conditions for which they were originally granted.

(c)      Termination for Cause. The Company may terminate the Employee’s employment pursuant
to the terms of this Agreement at any time for cause by giving written notice of termination,
detailing the exact conditions it believes exist that allow for such termination. Such
termination will become effective upon the giving of such notice. Upon any such termination
for cause, the Employee shall cease to receive compensation, bonus or reimbursement under
Section 3 and Section 4. For purposes of this Section 5(c), “cause” shall mean: (i) the
Employee is convicted of a felony during the term of this Agreement; (ii) the Employee
materially breaches any provision of Section 7 or Section 8.

3

 

(d)     Death or Disability. This Agreement and the obligations of the Company hereunder will
terminate upon the death of the Employee. Upon any such termination upon death, the Company will
pay the Employee or his legal representative, as the case may be, his annual salary at such time
pursuant to Section 3(a) through the date of such termination of employment. The Employee, his
legal representative, or estate, shall continue to receive, for a period of two years, any
commissions generated by Employee’s customers pursuant to Section 3(b). Said commissions shall be
paid only upon customers and business existing at the time of death or disability and shall not be
paid on any new business generated with said customers. Any stock options granted to Employee shall
remain in effect under the terms and conditions as provided by the Stock Option Plan.

6.     Termination Following Change in Control. 

     Except as provided in Section 5 herein, the Company will provide, or cause to be
provided, to Employee the rights and benefits described in Sections 3 and 4 here in the event that
Employee’s employment is “terminated” at any time without cause, within five years following a
“Change in Control”, or in the event the Company desires to “buyout” the unexpired term of this
Agreement. Under such occurrences, Employee will receive a lump sum payment equal to one five-year
contract period. This amount is to be computed as five times the annual salary being paid at that
time and five times the prior year’s commissions earned by Employee.

7.     Noncompetition Agreement.

     During (i) the period in which the Employee is being paid by the Company pursuant to
Section 3 or 5, and (ii) for a period of six (6) months commencing on the date of termination of
the period referred to in clause (i), the Employee, directly or indirectly, in association with ,
or as a stockholder, director, officer, consultant, employee, partner, joint venturer, member or
otherwise of or through any person, firm, corporation, partnership, association or other entity,
will not provide his services similar to those provided for in Section 2(a) to any competitor of
the Company, or engage in any business activity in direct competition with the Company (“Prohibited
Business”). The foregoing shall not prohibit Employee from owning 5% of the securities of any
publicly traded enterprise or prohibit Employee from providing his services to any entity not
engaged in Prohibited Business.

8.     Nondisclosure of Confidential Proprietary and/or Trade Secret Information.

Employee acknowledges that during his employment he will learn and will have access to
confidential, proprietary and/or trade secret information regarding the Company and its affiliates,
including without limitation (i) confidential or secret plans, programs, documents, agreements,
services or activities of the Company and (ii) trade secrets, market reports, customer
investigations and other similar information that is proprietary information of the Company
(collectively referred to as “confidential information”).

4

 

Employee acknowledges that such confidential information as is acquired and used by the Company is
a special, valuable and unique asset. All records, files, materials and confidential information
obtained by the Employee in the course of his employment with the Company are confidential and
proprietary and shall remain the exclusive property of the Company. The Employee will not, except
in connection with and as required by his performance of his duties under this Agreement, for any
reason use for his own benefit or the benefit of any person or entity with which he may be
associated or disclose any such confidential information to any person, firm, corporation,
association or other entity for any reason or purpose whatsoever without the prior written consent
of the Company, unless such confidential information previously shall have become public knowledge
through no action by or omission of the Employee. For a period of ten years following termination,
Employee shall not disclose any confidential, proprietary, or trade secret information without the
prior written consent of the Company.

Sections 7 and 8 of this Agreement are not enforceable by the Company except in the event that this
Agreement is terminated pursuant to Section 5(c) herein.

9.     Assignability. The rights and obligations of the Company under this Agreement shall
inure to the benefit of and be binding upon the successors and assigns of the Company. The
Employee’s rights and obligations hereunder may not be assigned or alienated and any attempt to do
so by the Employee will be void.

10.     Separability.

(a)     The Employee expressly agrees that the character, duration and geographical scope of the
provisions set forth in this Agreement are reasonable in light of the circumstances as they exist
on the date hereof. Should a decision, however, be made at a later date by a panel of arbitrators
or court of competent jurisdiction that the character, duration or geographical scope of such
provisions is unreasonable, then it is the intention and the agreement of the Employee and the
Company that this Agreement shall be construed by the court or arbitration panel in such manner as
to impose only those restrictions on the Employee’s conduct that are reasonable in the light of the
circumstances and as are necessary to assure to the Company the benefits of this Agreement.

If, any court or arbitration shall refuse to enforce all of the separate covenants deemed included
herein because taken together they are more extensive than necessary to assure to the Company the
intended benefits of this Agreement, it is expressly understood and agreed by the parties hereto
that the provisions of this Agreement that, if eliminated, would permit the remaining separate
provisions to be enforced in such proceeding shall be deemed eliminated, for the purposes of such
proceeding, from this Agreement.

(b)     If any provision of this Agreement is deemed to be invalid or unenforceable or is prohibited by
the laws of the state or jurisdiction where it is to be performed, this Agreement shall be
considered divisible as to such provision and such provision shall be inoperative in such state or
jurisdiction and shall not be part of the consideration moving
from either of the parties to the other. The remaining provisions of this Agreement shall be valid
and binding and of like effect as though such provision were not included.

5

 

11.     Notice. Notices given pursuant to the provisions of this Agreement shall be sent
certified mail, postage prepaid, or by overnight courier, or by facsimile or otherwise to the
following addresses:

	 	 	 
	(a) To the Employee:

	 	David A. Collins
	 

	 	4411 N. Bay Road
	 

	 	Miami Beach, FL 33140
	 
	 	 
	(b) To the Company:

	 	Dac Technologies Group International, Inc.
	 

	 	1601 Westpark Drive, #2
	 

	 	Little Rock, AR 72204
	 
	 	 
	(c) With a Copy to:

	 	Allan M. Lerner, Esq.
	 

	 	2888 East Oakland Park Blvd
	 

	 	Ft. Lauderdale, FL 33306

Any party may from time to time designate any other address to which any such notice to it or he
shall be sent. Any such notice shall be deemed to have been delivered upon receipt as hereinbefore
provided.

11.     Miscellaneous.

(a)     Governing Law. This Agreement shall be governed by and construed in accordance with the
internal, substantive laws of the State of Florida without giving effect to the conflict of laws
rules thereof.

(c)     Waiver; Amendment. The waiver by any party to this Agreement or breach of any
provision hereof by any other party shall not be construed as a waiver of any subsequent
breach by any party. No provision of this Agreement may be terminated, amended, supplemented,
waived or modified other than by an instrument in writing signed by the party against whom
enforcement of the termination, amendment, supplement, waiver or modification is sought.

(d)     Counterparts. This Agreement may be executed in counterparts, all of which together
shall constitute one and the same instrument.

(e)     Attorney Fees. In event of suit brought by either party to enforce the terms of this
Agreement, attorney’s fees and costs (through appeal) shall be awarded to the prevailing party.

IN WITNESS WHEREOF, the Company and the Employee have executed this Agreement as of the date and
year first above written.

	 	 	 	 	 
	DAC TECHNOLOGIES GROUP

INTERNATIONAL, INC.

 	 
	 	 
	 	 
	 	 	 
	 

/s/ Bob Goodwin     

Bob Goodwin, Director

/s/ David A. Collins     

By: David A. Collins

6

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