Document:

Exhibit 10.5(c) 

SECOND RENEWAL AND MODIFICATION AGREEMENT 

           THIS SECOND RENEWAL AND MODIFICATION AGREEMENT (this “Modification”) is made by and between UNIVERSAL POWER GROUP, INC., a Texas corporation (“Borrower”), and COMPASS BANK (“Lender”), to be effective as of the
18th day of April, 2006.

RECITALS: 

           WHEREAS, Borrower executed and delivered to Lender that certain Revolving Credit and Security Agreement, dated December 14, 2004 (the “Security Agreement”),
covering among other items of collateral certain Accounts, Accounts Receivable, Inventory, and other Collateral (each as defined in such Security Agreement), both tangible and intangible, together with all other collateral and property described in
the Security Agreement (all of such property being hereinafter collectively referred to as the “Property”); and 

           WHEREAS, the Security Agreement secures in part the indebtedness evidenced by that certain Revolving Note, dated of even date with the Security Agreement, in the original stated principal amount of Twelve Million and No/100
Dollars ($12,000,000.00), executed by Borrower and payable to Lender (as may have been heretofore renewed, extended, and/or modified, the “Note”); and 

           WHEREAS, the Borrower has obligations (collectively, the “Obligations”) under the Note, Security Agreement, and other Loan Documents (as defined below), which
Obligations, Note, Security Agreement and other Loan Documents were modified, renewed and/or extended, as the case may be, pursuant to that certain Renewal and Modification Agreement, dated March 23, 2006 (the “First Modification”)  (the indebtedness evidenced by the Note is referred to herein as the “Loan”, and the Note, Security
Agreement, First Modification, and all documents evidencing the Loan are herein collectively, the “Loan Documents”); and 

           WHEREAS, the parties desire to increase the principal amount under the Loan from Twelve Million and No/100 Dollars ($12,000,000.00) to Sixteen Million and No/100 Dollars ($16,000,000.00), all in accordance with the terms
and conditions herein contained; and

           WHEREAS, the parties desire to further modify the terms of the Loan as the same relate to certain of Borrower’s covenants, agreements, duties and obligations under the Security Agreement and other terms and conditions of the
Loan. 

AGREEMENTS: 

           NOW, THEREFORE, for and in consideration of the mutual covenants and agreements contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Borrower and Lender
hereby agree as follows: 

          1.
          The parties desire to increase the original principal amount of the Note from Twelve
Million and No/100 Dollars ($12,000,000.00) to
Sixteen Million and No/100 Dollars ($16,000,000.00) (hereinafter, the “Principal
Amount”),
Borrower’s duties and obligations under the Note (as hereby modified, extended,
and renewed) to repay the Principal Amount (as herein defined) shall be included
within the definition of the Obligations as herein specified, all in accordance
with the terms and conditions herein contained.

          2.           From
the date hereof, Borrower promises to pay to Lender the Principal Amount (as herein modified), together with interest thereon, and
to perform all of the Obligations under the Loan Documents (as hereby modified)
including, without limitation the payment of all outstanding principal together
with all  accrued but unpaid interest on the Maturity Date (as defined in both
the Note and Security Agreement). The Principal Amount shall accrue interest
and be due and payable in accordance with and as specified within the Promissory
Note; provided,  however, that, contemporaneously upon the execution of this
Modification, Borrower and Lender shall execute that certain First Amendment
to Master Revolving Promissory Note (the “First
 Amendment”), reflecting, among other revised
 terms, the increase of the Principal Amount as specified in Section 1 above,
 as well as the increase in the sub-limit upon letters of credit (defined as
 L/C’s under
the Security Agreement) from Seven Hundred Fifty Thousand and No/100 Dollars
 ($750,000.00) in the aggregate to Eight Hundred Seventy Five Thousand and
 No/100 Dollars ($875,000.00) . By this reference, the First Amendment is
hereby  incorporated into this Modification for all purposes. 

          3.           In addition to the foregoing, the parties hereby further agree that certain sections of the Security Agreement shall be modified and/or
amended, all in accordance with the following:

	          	
(a)          	
      Any and all references to (i) “Twelve Million and No/100 Dollars ($12,000,000.00)” or “$12,000,000.00” in the Security Agreement with respect to the amount of the Revolving Line shall be deleted and
  replaced in their entirety by “Sixteen Million and No/100 Dollars ($16,000,000.00)” or “$16,000,000.00,” respectively, as appropriate; and (ii) “Seven Hundred Fifty Thousand and No/100 Dollars ($750,000.00)”
  or “$750,000.00” in the Security Agreement with respect to the sub-limit on the aggregate amount of L/C’s (as defined in the Security Agreement in respect of letters of credit) shall be deleted and replaced in their entirety by
“Eight Hundred Seventy Five Thousand and No/100 Dollars ($875,000.00)” or “$875,000.00,” respectively,
as appropriate, all in accordance with the terms and conditions of the Security
Agreement (as modified hereby) and as further set forth in the First Amendment.

	 
	 	
(b)	
      The advance formula referenced
          in the Security Agreement, Section 1.1, and defined as the “Borrowing Base” therein shall be and hereby is modified as follows: “eighty-five percent (85.0%) of the outstanding value of
  Borrower’s Eligible Accounts Receivable (as defined in the Security Agreement and modified hereby), plus fifty percent (50.0%) of the value of Borrower’s Eligible Inventory (as hereinafter defined). Advances against Borrower’s
  Eligible Inventory shall not to exceed the lesser of (a) $8,500,000.00,
  or (b) an amount equal to the

	 

2

	          	 	
  product of (i) one and one-half (1.5),
      multiplied by (ii) eight-five percent (85%) of the outstanding value of
      Borrower’s Eligible Accounts Receivable at any one time outstanding; provided, however, that in no event shall the
  aggregate sum of all principal advances made by Bank to Borrower at any one time outstanding hereunder exceed the sum of $16,000,000.00.” From and after the date of this Modification, all references to the term “Borrowing Base” in
  the Security Agreement and other Loan Documents shall refer to the advance
  formula defined above.

	 
	 	
(c)          	
      Section 2.9 of the Security Agreement shall be and hereby is amended to read in its entirety as follows:

	 
	 	 	 “Section
          2.9 Location of Collateral. Except for
          Inventory sold in the ordinary course of business, all Inventory and
          other tangible Collateral have always been, are and shall continue
          to be kept at Borrower’s locations as reflected in Schedule 2.9
    of this Agreement.” 

	 	 	 
	 	
(d)	
      Section 6.1 (ii) of the Security
          Agreement shall be and hereby is amended to read in its entirety as
          follows: “(ii) Borrower’s audited fiscal year-end financial statements (in form, preparation and substance acceptable
  to Bank) within one hundred fifty (150) days after the close of each of its year-end, including a balance sheet as of the close of such period, an income statement, a reconciliation of stockholders’ equity,
  and a statement of cash flows, all certified by an independent certified public
  accountant acceptable to Bank and analyzed in accordance with generally accepted
  accounting principles;”

	 
	 	
(e)	
      Section 7.2 of the Security Agreement shall be and hereby is amended to read in its entirety as follows:

	 
	 	 	“7.2 Borrowings; Permitted
          Indebtedness. Except for borrowings under
          the Revolving Line, Borrower shall not borrow any money other than
          (i) Subordinated Debt (but only to the extent such borrowings and loans
          shall be fully subordinated hereto), without Bank’s prior written consent,
          or (ii) for trade credit and to finance the purchase of equipment in
          the ordinary course of business, not to exceed $50,000.00 in the
          aggregate at any given time, without Bank’s prior written consent.
          Except in favor of Bank, Borrower shall not guarantee, endorse or assume,
          either directly or indirectly, any indebtedness of any other corporation,
    person, or entity.” 

	 	 	 
	 	
(f)	
Section 7.3 of the Security Agreement shall be and hereby is amended to read in its entirety as follows:
	 
	 	 	“Section 7.3 Dividends. Borrower
        shall not pay, make or declare any dividends, distributions, or other
        similar payments, or make any other advances of any nature whatoseover,
        to Borrower’s
        directors, managers, officers, employees, owners, parent, members, affiliates,
    subsidiaries or other related persons or

3

	          	 	
  entities, without Bank’s prior written consent. Notwithstanding anything herein to the contrary, Bank agrees that Borrower may pay a monthly management fee to Zunicom of up to $40,000.00 per month and quarterly dividends
  equal to 50% of Borrower’s net income for any fiscal quarter for cash, taxes, or other Zunicom expenses, provided that (a) no Default of Event of Default exists as of the date any such payment is to be made or such payment would cause or result
  in a Default or Event of Default, (b) there is at least $500,000.00 of borrowing availability under the Revolving Line after the making of any such payment, (c) no more than one dividend is paid per fiscal quarter of Borrower, and (d) any such
  dividend is paid no sooner than thirty (30) days from Bank’s receipt of the financial statements delivered by Borrower for the end of the month that coincides with the end of such fiscal quarter of Borrower. Borrower shall not redeem, purchase
  or in any manner acquire any of its outstanding shares without Bank’s
  prior written consent.”

	 
	 	
(g)          	
      Section 7 (g) in Addendum A attached
          to the Security Agreement shall be and hereby is amended to read in
          its entirety as follows: “(g) it is located at one of Borrower’s
          places of business in (i) Carrollton, Texas, (ii) Oklahoma City, Oklahoma,
    (iii) Overland Park, Kansas, or (iv) Las Vegas, Nevada;”

	 
	 	
(h)	
      Schedule 2.9 of the Security Agreement is hereby deleted in its entirety and replaced by the attached Schedule 2.9 (attached hereto as Exhibit A) which shall be incorporated into the Security Agreement (as hereby modified) for all
  purposes.

	 
	 	
(i)	
      Except as specifically set forth
          in the Security Agreement (as hereby modified), the parties acknowledge
          and agree that all financial covenants of Borrower and/or any guarantor
          set forth in the Security Agreement (including, without limitation,
          Sections 6.5, 6.6, 7.9. and 7.11 of the Security Agreement) shall be
          measured based upon information contained in Borrower’s internally-prepared
          financial statements, including, without limitation, such statements
          as are required to be delivered to Lender pursuant to clauses (i),
          (iii), (iv), and (viii) of Section 6.1 of the Security Agreement or
    as otherwise may be reasonably requested from Lender from time to time.

          4.           Borrower hereby conveys and/or re-conveys, grants and/or re-grants, and makes and/or re-makes, each as applicable, to Lender the security interests and liens upon the Property remaining subject to
the Loan Documents and securing the Obligations.  Further, Borrower hereby covenants and agrees that Borrower shall not sell, transfer, convey or otherwise dispose of any of the Property without Lender’s prior written consent (except as
otherwise permitted under the Security Agreement), and, in the event such consent by Lender is given, Borrower shall provide Lender with such additional security with respect to the Obligations as Lender shall require in its sole and absolute
discretion. 

          5.           Borrower hereby renews, but does not extinguish, the Note, Loan, and the liens and security interests created and evidenced by the Security Agreement and all other liens and 

4

security interests
securing the Note (including, without limitation, any vendor’s lien), and
Borrower promises to pay to the order of Lender, the principal sum of the Loan
evidenced by the Note, or so much thereof as may be  advanced and outstanding,
together with interest at the rate and in the manner specified in the Note, as
modified herein, and to observe, comply with and perform each and every of the
terms and provisions of the Loan Documents as herein modified.

          6.           Borrower hereby reaffirms the liens on the Property and any other liens securing the Note and/or Loan until the indebtedness and the Note and Loan as modified and renewed hereby has been fully
paid, and agrees that the modification set forth herein shall in no manner affect or impair the Note, Loan, or the liens securing the same, and that said liens shall not in any manner be waived, the purpose of this instrument being simply to modify
the Security Agreement (and other Loan Documents, as appropriate) and to carry forward all liens securing the same, which are acknowledged by Borrower to be valid and subsisting. Borrower further agrees that all terms and provisions of the Note and
of the instrument or instruments creating or fixing the liens securing the same shall be and remain in full force and effect as therein written, except as otherwise expressly provided herein.  All liens are hereby carried forward from the original
inception thereof, and Borrower hereby ratifies, reaffirms and confirms all of said liens from the original inception thereof.  Except as otherwise specified herein, the terms and provisions hereof shall in no manner impair, limit, restrict, or
otherwise affect the obligations of Borrower or any guarantor under the Loan Documents. As a material inducement to Lender to execute and deliver this Modification, Borrower hereby acknowledges and agrees that Borrower is well and truly indebted to
Lender in the amount set forth hereinabove, and that the liens, security interests and assignments created by the Security Agreement and any other Loan Documents are, respectively, valid and subsisting liens, security interests, and assignments,
and, to the best of Borrower’s knowledge, are of the validity and priority recited in the Security Agreement and the other Loan Documents.  As a further material inducement to Lender to execute and deliver this Modification, Borrower hereby
acknowledges that there are no claims or offsets against, or defenses or counterclaims to, the terms or provisions or other obligations created or evidenced by the Loan Documents, and represent that, after modification of the Security Agreement and
other Loan Documents hereunder, no event has occurred, and no condition exists which would constitute a default, either with or without notice or lapse of time, or both, under the Loan Documents. 

          7.           Borrower reaffirms and remakes, as of the date hereof, all representations and warranties contained in the Note, Security Agreement, and other Loan Documents.  Borrower further represents and
warrants that, except as disclosed in writing to Lender, it has done nothing, nor has allowed anything, to adversely affect title to or encumber the Property or any other property of Borrower in which Lender has a security interest. Borrower further
represents and warrants to Lender that it is aware of no condition or fact, which has not been disclosed in writing to Lender, which would materially adversely affect the repayment to Lender of all sums due under the Note, Security Agreement, and
other Loan Documents. 

          8.           Borrower, for it and its successors, assigns, and representatives does hereby waive, release, and discharge Lender and its agents, employees, officers, directors, and
attorneys (collectively, the “Released Parties”) from any and all of Lender’s duties, obligations, and liabilities arising under, based upon or associated with, directly or 

5

indirectly, the Loan, the Note, Security Agreement, First
Modification, and any Loan Documents, existing as of the date of this Modification,
and further does hereby waive any and all claims and causes of action of any
kind or  character, arising under, based upon, or associated with, directly or
indirectly, the Loan Documents or the acts, actions, or omissions of the Released
Parties in connection therewith, existing as of the date hereof, whether known
or unknown,  asserted or unasserted, equitable or at law, arising under or pursuant
to common or statutory law, rules, or regulations. 

          9.           Borrower hereby ratifies, reaffirms and confirms any and all covenants, agreements, or promises heretofore made by Borrower to Lender in connection with the Loan, Note, Security Agreement, or other
Loan Documents, and all renewals thereof, including as hereby modified. 

          10.         Borrower
agrees, simultaneously with and as a condition precedent to the execution hereof,
to pay to Lender a non-refundable credit facility fee in the amount of $5,000.00
(representing 0.125%  of the $4,000,000.00 amount of the increased availability
under the Revolving Line [as defined in the Security Agreement]), as well as
all costs and expenses of Lender incurred in connection with the preparation
and administration of this  Modification, including, the cost of any recording
fees and charges associated with the Security Agreement and/or other Loan Documents,
and Lender’s attorneys’ fees and expenses.

          11.         It
is hereby agreed and acknowledged that other parties, if any, who are liable
in any part for the Obligations, including, without limitation, Zunicom, Inc.,
a Texas corporation, in its capacity  as guarantor of the Loan and Obligations,
are in no way released or discharged from such Obligations, nor are Lender’s
rights against such persons or entities waived or negatively impacted by the
execution of this Modification.

          12.         The
parties agree that all clauses contained in the Loan Documents which relate to
the payment, application, and spreading of interest received by Lender which
may be greater than the maximum  amount allowed by applicable law, shall remain
in full force and effect and by this reference be fully incorporated herein. 

          13.         If
any provision of this Modification or application to any party or circumstance
shall be determined by any court of competent jurisdiction to be invalid and
unenforceable to any extent, the  remainder of this Modification or the application
of such provision to such person or circumstances, other than those as to which
it is so determined invalid or unenforceable, shall not be affected thereby,
and each provision hereof shall be valid  and shall be enforced to the fullest
extent permitted by law. 

          14.         Except
as amended hereby, the Note, Security Agreement, First Modification, and other
Loan Documents remain unmodified and in full force and effect. 

          15.         THE
LOAN, NOTE, SECURITY AGREEMENT, FIRST MODIFICAITON, AND OTHER WRITTEN LOAN DOCUMENTS,
AS MODIFIED BY THIS MODIFICATION, REPRESENT THE FINAL AGREEMENT BETWEEN  BORROWER
AND LENDER, AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, 

6

CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF
THE PARTIES. 

           THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN BORROWER AND LENDER. 

[remainder of page intentionally left blank]

 

7

          EXECUTED to be effective as of the date first above written. 

	 	 	
BORROWER: 
	
	 	 	 

		 
	 	 	
UNIVERSAL POWER GROUP, INC., 
	
	 	 	
a Texas corporation 
	
	 	 	 

		 
	 	 	 

		 
	 	 	
By: 
		/s/
    IAN EDMONDS

	/s/ JULIE SANSOM-REESE 
	 	
Name:   
		Ian
    Edmonds

	Julie Sansom-Reese	 	
Title: 
		Chief Operating
    Officer 

	Chief Financial Officer 	 	 

		 
	 	 	
LENDER: 
	
	 	 	 

		 
	 	 	
COMPASS BANK 
	
	 	 	 

		 
	 	 	 

		 
	 	 	By:  	/s/ KEY COKER

	 	 	
Name: 
		Key Coker

	 	 	
Title: 
		Executive Vice President

[remainder of page intentionally left blank]

 

8

ACCEPTED, AGREED, AND ACKNOWLEDGED: 

ZUNICOM, INC., a Texas corporation (“Guarantor”),
as guarantor of the Obligations herein specified pursuant to its execution of
that certain Guaranty Agreement  dated of even date with the Security Agreement
(the “Guaranty”),
is executing below to evidence (a) its consent to this Modification and (b) its
agreement that (i) this  Modification does not void, invalidate, create a defense
to the enforcement of, or otherwise negatively impact the Guaranty and (ii) the
Guaranty shall continue in full force and effect and cover all of the Obligations
(as herein modified);  provided, however, that, upon Lender’s request, Guarantor
shall execute a new Guaranty Agreement, to be dated of even date herewith to
further evidence its duties and obligations as a principal obligor with respect
to the Obligations (as herein  modified).

 GUARANTOR: 

ZUNICOM, INC.,

    a Texas corporation 

    

    

	 By:  	/s/
          IAN EDMONDS 
	 
	 Name:    	Ian
          Edmonds
	 
	 Title:  	Executive Vice
        President 
	 

[acknowledgments on following page]

 

9

	
STATE OF TEXAS 
		
§ 
	
	 

		
§ 
	
	
COUNTY OF DALLAS 
		
§ 
	

           The
foregoing instrument was acknowledged before me this      18      day
of April, 2006, by   Julie Sansom-Reese  , as      CFO                          of
Universal Power Group, Inc., a Texas corporation, on behalf of such entity. 

	 	
    /s/ TRACIE HUNTER 

  
	               
	 	
      Notary Public in and for the State of Texas 
      
	 
	 	 	 
	 	 	 

	 STATE OF TEXAS  	 §  
	  	 §  
	 COUNTY OF DALLAS  	 §  

           This
instrument was acknowledged before me on the      18      day
of April, 2006, by      Ian Edmonds      ,
as   Executive President    of Zunicom, Inc., a Texas
corporation, on behalf of said corporation in its capacity as guarantor. 

	 	
        /s/ TRACIE HUNTER 

    
	               
	 	
      Notary Public in and for the State
          of Texas  
	 
	 	 	 
	 	 	 

	 STATE OF TEXAS  	 §  
	  	 §  
	 COUNTY OF DALLAS  	 §  

           This
instrument was acknowledged before me on the 18 day of April, 2006, by Key Coker of COMPASS BANK. 

	 	
        /s/ G. Browning

    
	               
	 	
      Notary Public in and for the State
          of Texas  
	 
	 	 	 
	 	 	 

 

10

EXHIBIT A 

Schedule 2.9 

Places of Business 

Business Locations 

Universal Power Group 

	 	 	 
	                         	
1)  	
Main Warehouse and Corporate Offices 

1720 Hayden Road 

Carrollton, Texas 75006
	 
	 	
2)	
Oklahoma City Retail Store and Wholesale Warehouse 

11605 N. Santa Fe 

Oklahoma City, Oklahoma 73114
	 
	 	
3)	
Kansas City Customer Service Center 

10580 Barkley, Ste. #410 

Overland Park, Kansas 66212
	 
	 	
4)	
South Tech-Diablo Business Center, LLC 

5770 South Valley View Boulevard 

Las Vegas, Nevada 89118
	 

11Exhibit 10.5(d) 

FIRST AMENDMENT TO MASTER REVOLVING PROMISSORY NOTE 

          THIS
FlRST AMENDMENT TO MASTER REVOLVING PROMISSORY NOTE (this
 “Amendment”) is executed on April 18, 2006 (the “Effective Date”),
 by and between UNIVERSAL POWER GROUP, INC., a
Texas corporation (“Borrower”), and COMPASS BANK (together
with its successors and assigns,  “Lender”). 

RECITALS 

          A.           Borrower
executed to the order of Lender that certain Master Revolving Promissory Note,
dated December 14, 2004, in the maximum principal amount of
$12,000,000.00 (as amended hereby, the “Note”). The Note,
as well as certain other documents and instruments evidencing and/or securing
the indebtedness evidenced by such Note, have been modified pursuant to (i) that
certain Renewal and Modification Agreement, dated March 23, 2006, by and between
Borrower and Lender (the “First Modification”), and (ii) that certain
Second Renewal and Modification Agreement, dated of even date herewith, by and
between Borrower and Lender (the “Second Modification”).
Unless otherwise defined herein, capitalized terms shall have the meaning assigned
to them in the Note. 

          B.           Borrower and Lender desire to increase the maximum principal amount and amend certain other terms of the Note and, pursuant to the terms and conditions of the Second Modification, have
agreed to execute this Amendment to reflect such changes. 

AGREEMENT 

          NOW, THEREFORE, in consideration of the above Recitals and other good and valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, the Borrower and Lender hereby amend the Note as follows: 

          1.           Beginning
as of the Effective Date, any and all references to the principal sum or principal
amount of the Note (as modified by the First and Second  Modification) shall
be amended from “$12,000,000.00” to “$16,000,000.00” and
from “Twelve Million and No/100 Dollars ($12,000,000.00)” to “Sixteen
Million and No/100 Dollars ($16,000,000.00),” respectively, as appropriate;
provided,  however, that Lender's obligation to advance such sum shall remain
subject to limitations upon Advances (as defined in the Note) as provided pursuant
to the terms and conditions of the Note (as hereby amended, and as heretofore
modified pursuant the  First Modification and the Second Modification) and Security
Agreement (as defined in the Note, and as modified pursuant to the First Modification
and Second Modification), all of such limitations to remain in full force and
effect. 

          2. The fifth paragraph of the Note shall be deleted and amended to read in its entirety as follows: 

          “Maker
shall have the right, and in certain instances may be required, to prepay, at
any time and from time to time prior to maturity, all or any part of the unpaid
principal balance of this  Note and all or any
part of the unpaid interest accrued to the date of such prepayment, provided
that any such principal thus paid is accompanied by accrued interest on such
principal as well as the applicable Prepayment Fee (defined below), if applicable. Any partial
prepayments of principal shall be applied to installments thereof in the inverse
order of maturity. Maker may borrow, repay, and reborrow up to the principal
face amount of this Note, except as otherwise limited by the Security Agreement.
It is contemplated that, by 

reason of prepayments hereon, there may be times when
no indebtedness is owing hereunder; but notwithstanding such occurrences, this
Note shall remain valid and shall be in full force and effect subsequent to each
 occurrence until the Maturity Date. Notwithstanding the foregoing, in the event
Maker elects to prepay all or any portion of the unpaid principal balance of
this Note and all or any part of the unpaid interest accrued to the
date of such prepayment, Maker shall be required to pay to Payee a “Prepayment Fee” (so
called herein) equal to a percentage amount of any such prepayment as follows:
(a) three quarters percent (0.75%), if such prepayment is made on or after December
 14, 2004 but prior to December 14, 2005, (b) one
 half percent (0.5%), if such prepayment is made on or after December 14, 2005
 but prior to December 14, 2006, (c) one quarter  percent (0.25%), if such prepayment
 is made on or after December 14, 2006 but prior to the Maturity Date. Notwithstanding
 anything herein contained to the contrary, Maker acknowledges and agrees that,
 with respect to letters of credit issued by  Payee for the benefit of Maker,
 at no time hereunder shall Payee be obligated to issue letters of credit or
 make advances thereunder in excess of Eight Hundred Seventy Five Thousand and
 No/100 Dollars ($875,000.00) in the aggregate at any given
time hereunder.” 

          3.           Except as expressly amended herein, the Note (as modified by the First and Second Modification) shall remain in full force and effect in accordance with its terms and conditions. 

          4.           Notwithstanding
the execution of this Amendment, the indebtedness evidenced by the Note shall
remain in full force and effect, and nothing contained herein shall be interpreted
or construed as resulting in a novation of such indebtedness. Borrower acknowledges
and agrees that there are no offsets or  defenses to payment of the obligations
evidenced by the Note (as modified by the First and Second Modification), as
hereby amended, and hereby waives any defense, claim or counterclaim of Borrower
regarding the obligations of Borrower under the Note (as modified by the First
and Second Modification), as hereby amended. Borrower represents that to its
best knowledge there are no conditions of default or facts or  consequences which
will or could lead to a default under the obligations due from Borrower under
the Note (as modified by the First and Second Modification), as amended herein. 

[SIGNATURES ON FOLLOWING PAGE] 

          IN WITNESS
WHEREOF, Borrower and Lender have caused
this Amendment to be executed by their respective duly  authorized representatives,
as of the date first set forth above. 

	 	 BORROWER:  
	 

	
	 	 UNIVERSAL POWER GROUP, INC.,  
	 	 a Texas corporation 
	 	 	 
	 	
By: 
		           /s/
	      Julie Sansom-Reese  

	 	
Name: 
		           Julie
    Sansom-Reese  

	 	
Title: 
		           Chief
    Financial Officer  

	 

	
	 

	
	 

	
	 	
By: 
		       /s/ Ian
    Edmonds  

	 	
Name: 
		       Ian
    Edmonds  

	 	
Title: 
		        Chief
    Operating Officer  

	 

	
	 

	
	 

	
	 

	
	 	
LENDER: 
	
	 

	
	 	 COMPASS BANK  
	 

	
	 

	
	 	
By: 
		/s/ KEY COKER

	
	 	
Name: 
		Key Coker

	
	 	
Title: 
		Executive Vice President

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