Document:

EX-10.4

REVOLVING NOTE

December 21, 2006

FOR VALUE RECEIVED, the undersigned (the “Borrower”) hereby unconditionally promises
to pay, on the Revolving Commitment Termination Date (as defined in the Credit Agreement referred
to below), to the order of [LENDER] (the “Lender”) at the office of HSBC Bank USA,
National Association located at 125 High Street, 16th Floor, Oliver Street Tower,
Boston, MA 02110, in lawful money of the United States of America or such other currency as
required by the Credit Agreement and in immediately available funds, the aggregate unpaid
principal amount of all Revolving Loans made by the Lender to the Borrower pursuant to Section 2.1
of the Credit Agreement referred to below.

The undersigned further agrees to pay interest in like money at such office on the unpaid
principal amount hereof and, to the extent permitted by law, accrued interest in respect hereof
from time to time from the date hereof until payment in full of the principal amount hereof and
accrued interest hereon, at the rates and on the dates set forth in the Credit Agreement.

The holder of this Revolving Note is authorized to endorse the date and amount of each Loan
made pursuant to Section 2.1 of the Credit Agreement and each payment of principal and interest
with respect thereto and its character as a LIBOR Rate Loan or an Alternate Base Rate Loan on
Schedule 1 annexed hereto and made a part hereof, or on a continuation thereof which shall
be attached hereto and made a part hereof, which endorsement shall constitute prima facie evidence
of the accuracy of the information endorsed; provided, however, that the failure
to make any such endorsement shall not affect the obligations of the undersigned under this
Revolving Note.

This Note is one of the Revolving Notes referred to in the Credit Agreement, dated as of
December 21, 2006 (as amended, restated, supplemented or otherwise modified, the “Credit
Agreement”), by and among Lionbridge Technologies, Inc., a Delaware corporation (the
"Company”), the Material Domestic Subsidiaries of the Company from time to time party
thereto, the lenders from time to time party thereto (the “Lenders”) and HSBC Bank USA,
National Association, as administrative agent for the Lenders (the “Administrative Agent"),
and the holder is entitled to the benefits thereof. Capitalized terms used but not otherwise
defined herein shall have the meanings provided in the Credit Agreement.

Upon the occurrence of any one or more of the Events of Default specified in the Credit
Agreement, all amounts then remaining unpaid on this Revolving Note shall become, or may be
declared to be, immediately due and payable, all as provided therein. In the event this Revolving
Note is not paid when due at any stated or accelerated maturity, the Borrower agrees to pay, in
addition to principal and interest, all costs of collection, including reasonable attorneys’ fees.

All parties now and hereafter liable with respect to this Revolving Note, whether maker,
principal, surety, endorser or otherwise, hereby waive presentment, demand, protest and all other
notices of any kind.

1

THIS REVOLVING NOTE SHALL BE GOVERNED BY, AND CONSTRUED AND ENFORCED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAWS
PRINCIPLES THEREOF (OTHER THAN SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL
OBLIGATIONS LAW).

LIONBRIDGE TECHNOLOGIES, INC.,

a Delaware corporation

By:      

Name:

Title:

SCHEDULE 1

to Revolving Note

LOANS AND PAYMENTS OF PRINCIPAL

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	Principal Paid or	 	 	 	 
	Date	 	Amount of loan	 	Currency of Loan	 	Type of Loan	 	Interest Rate	 	Interest Period	 	Maturity Date	 	Converted	 	Principal Balance	 	Notation Made By

2EX-10.5

SWINGLINE NOTE

December 21, 2006

FOR VALUE RECEIVED, the undersigned, LIONBRIDGE TECHNOLOGIES, INC., a Delaware corporation
(the “Company”), hereby unconditionally promises to pay on the Revolving Commitment
Termination Date (as defined in the Credit Agreement referred to below), to the order of HSBC BANK
USA, NATIONAL ASSOCIATION (the “Swingline Lender”) at the office of HSBC BANK USA, NATIONAL
ASSOCIATION, 125 High Street, 16th Floor, Oliver Street Tower, Boston, MA 02110 in
lawful money of the United States of America and in immediately available funds, the aggregate
unpaid principal amount of all Swingline Loans made by the Swingline Lender to the undersigned
pursuant to Section 2.3 of the Credit Agreement referred to below. The undersigned further agrees
to pay interest in like money at such office on the unpaid principal amount hereof and, to the
extent permitted by law, accrued interest in respect hereof from time to time from the date hereof
until payment in full of the principal amount hereof and accrued interest hereon, at the rates and
on the dates set forth in the Credit Agreement.

The holder of this Swingline Note is authorized to endorse the date and amount of each
Swingline Loan made pursuant to Section 2.3 of the Credit Agreement and each payment of principal
and interest with respect thereto and its character as an Alternate Base Rate Loan or otherwise on
Schedule 1 annexed hereto and made a part hereof, or on a continuation thereof which shall
be attached hereto and made a part hereof, which endorsement shall constitute prima facie evidence
of the accuracy of the information endorsed; provided, however, that the failure
to make any such endorsement shall not affect the obligations of the undersigned under this
Swingline Note.

This Note is the Swingline Note referred to in Credit Agreement, dated as of December 21,
2006 (as amended, restated, supplemented or otherwise modified, the “Credit Agreement”),
by and among the Company, the Material Domestic Subsidiaries of the Company from time to time
party thereto, the lenders from time to time party thereto (the “Lenders”) and HSBC BANK
USA, NATIONAL ASSOCIATION, as administrative agent for the Lenders (the “Administrative
Agent”), and the holder is entitled to the benefits thereof. Capitalized terms used but not
otherwise defined herein shall have the meanings provided in the Credit Agreement.

Upon the occurrence of any one or more of the Events of Default specified in the Credit
Agreement, all amounts then remaining unpaid on this Swingline Note shall become, or may be
declared to be, immediately due and payable, all as provided therein. In the event this Swingline
Note is not paid when due at any stated or accelerated maturity, the Company agrees to pay, in
addition to principal and interest, all costs of collection, including reasonable attorneys’ fees.

All parties now and hereafter liable with respect to this Swingline Note, whether maker,
principal, surety, endorser or otherwise, hereby waive presentment, demand, protest and all other
notices of any kind.

1

THIS SWINGLINE NOTE SHALL BE GOVERNED BY, AND CONSTRUED AND ENFORCED IN ACCORDANCE
WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES THEREOF
(OTHER THAN SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW).

LIONBRIDGE TECHNOLOGIES, INC., a
Delaware corporation

By:  /s/ Stephen J. Lifshatz

Name: Stephen J. Lifshatz

Title: Senior Vice President and Chief

Financial Officer

2

SCHEDULE 1

to Swingline Note

LOANS AND PAYMENTS OF PRINCIPAL

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	Principal Paid or	 	 	 	 
	Date	 	Amount of loan	 	Currency of Loan	 	Type of Loan	 	Interest Rate	 	Interest Period	 	Maturity Date	 	Converted	 	Principal Balance	 	Notation Made By

3EXHIBIT 4.1

EXHIBIT 4.1

First Amendment to 

Rights Agreement

            This First Amendment to Rights Agreement (this "First Amendment") is made effective as of this 21st day of December, 2006 by and between CPAC, Inc., a New York corporation with its principal executive office at 2364 Leicester Road, Leicester, New York 14481 (the "Company"), and Continental Stock Transfer & Trust Co., a Delaware corporation with its principal executive office at 17 Battery Place, New York, New York 10004 (the "Rights Agent"). Capitalized terms used herein and not otherwise defined shall have the meanings given to them in the Agreement (as defined below).

            Whereas, the Company and the Rights Agent entered into a certain Rights Agreement (the "Agreement") dated as of March 19, 1999; and

            Whereas, the Company and the Rights Agent now desire to amend certain terms and conditions of the Agreement as more particularly set forth herein.

            Whereas, pursuant to Section 26 of the Agreement, the Agreement may be amended by the Company without the approval of any holders of Rights Certificates by a writing signed by the Company and the Rights Agent.

            Now, Therefore, in consideration of the mutual promises contained herein the Company and the Rights Agent hereby agree as follows:

1.         Addition of Section 34.  A new Section 34 is hereby added to the Rights Agreement to read in its entirety as follows:

Section 34.  Buckingham Capital Transaction.  Notwithstanding any other provision of the Agreement, it is agreed that none of the transactions described in that certain Agreement and Plan of Merger (the "Merger Agreement") dated on or about December 21, 2006 by and among the Company, Buckingham CPAC, Inc. and Buckingham CPAC Acquisition Corp., (collectively, "Buckingham") will cause a Stock Acquisition Date or Distribution Date to occur for any purposes under this Agreement, or will otherwise cause any Rights issued pursuant to this Agreement to become  exercisable by the holders thereof.  Without limiting the foregoing, Buckingham shall not be deemed to constitute an Acquiring Person with respect to any of the transactions described in the Merger Agreement.  Any other transactions between the Company or its shareholders and Buckingham (or any of its Affiliates) that are not within the transactions described in the Merger Agreement are not intended to be excluded from this Agreement, absent a further amendment to this Agreement or further action by the Board of Directors of the Company to the extent permitted herein.

2.         Full Force and Effect; Remaining Agreement Not Modified.   This First Amendment shall not be deemed to be a consent or waiver to, or a modification of, any other term or condition of the Agreement.  Except as expressly modified hereby, the terms and provisions of the Agreement shall continue in full force and effect.  Any reference to this Agreement shall be deemed to mean the Agreement as amended hereby.

            In Witness Whereof, the parties have caused this First Amendment to be duly executed effective as of the date first set forth above.

 

	 	 	
CONTINENTAL STOCK TRANSFER & TRUST CO.

	 	 	 
	 	 	
/s/ William F. Seegraber                                                    

	 	 	
Signature

	 	 	 
	 	 	
William F. Seegraber                                                         

	 	 	
Name

	 	 	 
	 	 	
Vice President                                                                   

	 	 	
Title

	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	
CPAC, INC.

	 	 	 
	 	 	
/s/ Thomas N. Hendrickson                                               

	 	 	
Signature

	 	 	 
	 	 	
Thomas N. Hendrickson                                                   

	 	 	
Name

	 	 	 
	 	 	
President & CEO                                                               

	 	 	
Title

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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