Document:

ex_1060.htm

EXHIBIT 10.62

AMENDMENT NO. 1 TO THE REGISTRATION RIGHTS AGREEMENT

 

AMENDMENT NO. 1 (this “Amendment Agreement”), dated as of March 31, 2011, to the Registration Rights Agreement dated as of December 31, 2010 (as amended, restated, supplemented or otherwise modified from time to time, the “Agreement”) by and among Communication Intelligence Corporation, a Delaware corporation (the “Company”), and the signatories hereto.

 

R E C I T A L S:

 

WHEREAS, the Company and the existing holders of shares of Series C Preferred Stock and Warrants are parties to the Agreement, which sets forth the registration rights granted to the holders of Series C Preferred Stock and Warrants in connection with the shares of Company common stock issuable upon the conversion of the Series C Preferred Stock or exercise of the Warrants;

 

WHEREAS, the Company intends to issue and sell up to 800,000 shares of Series C Preferred Stock (the “Follow-On Series C Shares”) and detachable three-year warrants to purchase a total of 35,555,556 shares of Company common stock at an exercise price of $0.0225 per share (the “Follow-On Series C Warrants”) to accredited investors for a purchase price of $1.00 per share pursuant to a private placement (the “Follow-On Offering”);

 

WHEREAS, the Company and the undersigned holders desire to amend the Agreement, effective as of the date hereof, to, among other things, (i) allow for the purchasers of Follow-On Series C Shares and Follow-On Series C Warrants issued in the Follow-On Offering (the “Additional Investors”) to become parties to the Agreement and be granted the registration rights set forth therein, (ii) amend the definition of “Investors” to include the Additional Investors and (iii) amend the definition of “Preferred Shares” to include the Follow-On Series C Shares and “Warrants” to include the Follow-On Warrants issued in the Follow-On Offering;

 

WHEREAS, Section 9(i) of the Agreement provides that the Company will not grant any additional registration rights after the date of the Agreement without the consent of the holders of at least a majority of the Registrable Stock unless such registration rights are subordinate in all respects to the rights contained in the Agreement;

 

WHEREAS, Section 9(d) of the Agreement provides that amendments to the Agreement may only become effective with the written consent of the Company and the holders of at least a majority of the Registrable Stock (assuming the conversion of all Preferred Shares and Warrants into Registrable Stock);

 

WHEREAS, the holders of at least a majority of the Registrable Stock wish to consent to the grant of the registration rights set forth in the Agreement to the Additional Investors; and

 

WHEREAS, the Company and the holders of at least a majority of the outstanding shares of Registrable Stock under the Agreement wish to consent to the amendments contained herein and, upon execution of this Amendment Agreement by the Company and such holders, the requirements of Section 9(d) of the Agreement will be satisfied.

 

  

  

EXHIBIT 10.62

 

NOW, THEREFORE, in consideration of the premises and the agreements, provisions and covenants herein contained, and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties do hereby agree, as follows:

 

1. Definitions in this Amendment Agreement.  Except as otherwise defined in this Amendment Agreement (including the preamble and the recitals hereof), capitalized terms are used herein with the meanings ascribed to such terms in the Agreement.

 

2. Consent to Additional Parties to the Agreement.  The undersigned holders of at least a majority of the Registrable Stock hereby consent to the addition of the Additional Investors as parties to the Agreement and of the grant of the registration rights set forth in the Agreement to such Additional Investors.  The Company shall require each Additional Investor to agree in writing to be subject to the terms and conditions of the Agreement, and that such terms and conditions shall inure to the benefit of such Additional Investors, by executing and delivering a Joinder Agreement, in substantially the form attached as Exhibit A, and upon execution and delivery of such Joinder Agreement, each such Additional Investor shall be deemed to be an Investor under the Agreement.

 

3. Consent to Amendments to the Agreement.  The Company and the undersigned holders of at least a majority of the outstanding shares of Registrable Stock hereby consent to the amendments to the Agreement contained in this Amendment Agreement and acknowledge that, upon execution of this Amendment Agreement by the Company and such holders, the requirements of Section 9(d) of the Agreement will be satisfied.

 

4. Amendment to Recitals of the Agreement.  The Recitals to the Agreement are hereby amended and restated in their entirety to read as follows:

 

“WHEREAS, the Company and the other parties hereto wish to provide certain arrangements with respect to the registration of shares of common stock, $0.01 par value, of the Company (the “Common Stock”) under the Securities Act (as defined below);

 

WHEREAS, the Company and certain of the Investors who are signatories thereto  have entered into a Series C Preferred Stock Purchase Agreement, dated as of December 9, 2010 (the “Purchase Agreement”), pursuant to which, subject to the terms and conditions therein, the Company is issuing and selling to such Investors, and such Investors are purchasing from the Company, an aggregate of up to 3,000,000 shares of the Company’s Series C Participating Convertible Preferred Stock, par value $0.01 per share (the “Series C Preferred Stock”), and warrants to purchase shares of Common Stock (the “Warrants”) up to an aggregate amount of 133,333,333 shares (subject to adjustments);

 

WHEREAS, SG Phoenix LLC, on behalf of the Company, and certain investors (the “Additional Investors”) have entered into subscription agreements, pursuant to which, subject to the terms and conditions therein, the Company is issuing and selling to such Additional Investors, and such Additional Investors are purchasing from the Company, an aggregate of up to 800,000 shares of Series C Preferred Stock and warrants

 

  

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EXHIBIT 10.62

   

    to purchase up to 35,555,556 shares of Common Stock (subject to adjustments) (the “Follow-On Offering”); and

 

WHEREAS, it is a condition to the obligations of the Investors under the Purchase Agreement and the Additional Investors pursuant to the Follow-On Offering that this Agreement be executed by the parties hereto, and the parties are willing to execute this Agreement and to be bound by the provisions hereof.”

 

5. Amendment to Definition of “Investors” in the Agreement.  The definition of “Investors” in the Agreement is hereby amended effective as of the date hereof to include the Additional Investors in the Offering.

 

6. Amendment to Definition of “Preferred Shares” and “Warrants” in the Agreement.  The definition of “Preferred Shares” in Section 1 of the Agreement is hereby amended and restated in its entirety to read as follows:

 

“Preferred Shares” means shares of Series C Preferred Stock issued to the Investors pursuant to the Purchase Agreement or the Follow-On Offering, or by way of a stock dividend, stock split or in connection with a combination of shares, recapitalization, merger, consolidation or other reorganization.”

 

The definition of “Warrants” is hereby added to Section 1 of the Agreement and reads as follows:

 

“Warrants” means the Warrants issued to the Investors pursuant to the Purchase Agreement or the Follow-On Offering.

 

7. Effectiveness of Amendments.  The amendments to the Agreement contained in this Amendment Agreement shall become effective on and as of the date hereof.  From and after such date, each reference in the Agreement to the “Agreement”, or any like expression referring to the Agreement, shall be deemed to refer to the Agreement as amended by this Amendment Agreement.  The Agreement, other than as amended hereby, shall remain unchanged and in full force and effect.

 

8. Counterparts; Facsimile.  This Amendment Agreement may be executed in multiple counterparts, each of which shall be deemed to be an original, but all such separate counterparts shall together constitute but one and the same instrument.  Delivery of a counterpart hereof by facsimile transmission or by e-mail transmission shall be as effective as delivery of a manually executed counterpart hereof.

 

9. Governing Law.  This Amendment Agreement shall be governed by and construed in accordance with the laws of the State of New York, without regard to its conflict of law principles.

 

  

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EXHIBIT 10.62

 

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EXHIBIT 10.62  

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment Agreement to be duly executed as of the day and year first above written.

 

 

	
COMPANY:

	
COMMUNICATION INTELLIGENCE CORPORATION

 

By:    /s/ Craig Hutchison                                                            

Name: Craig Hutchison

Title:           Vice President and Assistant Treasurer

	
REQUIRED HOLDERS:

	
PHOENIX VENTURE FUND LLC

 

By: SG Phoenix Ventures LLC,

its Managing Member

 

By:  /s/ Andrea Goren                                                           

Name:    Andrea Goren

Title:       Member

	  	
 

 

  /s/ Michael W. Engmann                                                             

MICHAEL W. ENGMANN

	  	
 

 

MDNH PARTNERS L.P.

 

 

By:   /s/ Michael W. Engmann                                                    

Name:  Michael W. Engmann

Title:    General Partner

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Signature Page to Amendment No. 1 to the Registration Rights AgreementWebFilings | EDGAR view

AMERON INTERNATIONAL CORPORATION AND SUBSIDIARIES

EXHIBIT 10.2
 
NINTH AMENDMENT TO CREDIT AGREEMENT
 
 
 
Exhibit 10.2 is the Ninth Amendment to Credit Agreement dated as of January 24, 2003 (as amended and modified from time to time, the "Credit Agreement"), among Ameron International Corporation, a Delaware corporation (the "Borrower"), the Guarantors party thereto, the Lenders from time to time party thereto and Bank of America, N.A., as administrative agent (the "Agent").
 

 

 

March 31, 2011
 
Ameron International Corporation
245 Los Robles Avenue
Pasadena, CA  91101-2894
 
Re:    Ninth Amendment to Credit Agreement dated as of January 24, 2003 (as amended and modified from time to time, the "Credit Agreement"), among Ameron International Corporation, a Delaware corporation (the "Borrower"), the Guarantors party thereto, the Lenders from time to time party thereto and Bank of America, N.A., as administrative agent (the "Agent").
 
Ladies and Gentlemen:
 
Reference is hereby made to the Credit Agreement described above.  Capitalized terms used herein without definition shall have the meanings ascribed to such terms in the Credit Agreement.
 
The Borrower has informed the Lenders that it was required to pay $18,006,000 in cash taxes (the "TAMCO Tax") on gains received in connection with the sale of its interest in TAMCO to Gerdau Ameristeel US Inc.  The Borrower has requested that the Lenders (i) consent to the exclusion of the TAMCO Tax from the calculation of the Consolidated Fixed Charge Coverage Ratio and (ii) amend the Credit Agreement as provided below.
 
Effective as of February 26, 2011, the Required Lenders hereby consent to the exclusion of the TAMCO Tax from the calculation of the Consolidated Fixed Charge Coverage Ratio for the fiscal quarters ending February 27, 2011, May 29, 2011, August 28, 2011 and November 30, 2011.
 
The consent contained herein is a one-time consent, and is expressly limited to the purposes and matters set forth herein.  Nothing contained herein shall constitute a waiver or modification of any other rights or remedies the Agent or any Lender may have under any Loan Document or applicable Law.  
 
The parties hereto agree that Section 8.11(c) of the Credit Agreement is amended to read as follows:
 
(c)    Consolidated Fixed Charge Coverage Ratio.  Permit the Consolidated Fixed Charge Coverage Ratio as of the end of any fiscal quarter of the Borrower, for the four fiscal quarter period ending on such date, to be less than the ratio set forth below opposite such fiscal quarter:
					
	Calendar year/
fiscal quarter end
	February 27
	May 29
	August 28
	November 30

	2011
	1.50 to 1.0
	1.10 to 1.0
	1.10 to 1.0
	1.35 to 1.0

	thereafter
	1.50 to 1.0
	1.50 to 1.0
	1.50 to 1.0
	1.50 to 1.0

 
The Borrower and each Guarantor represents and warrants that no amendment to, or waiver or consent under, the 2005 Note Purchase Agreement is required in connection with the TAMCO Tax and the calculation of the financial covenants under the 2005 Note Purchase Agreement.
 
This letter agreement shall become effective upon satisfaction of the following conditions precedent: (i) the execution hereof by the Loan Parties, the Required Lenders and the Agent and (ii) receipt by the Administrative Agent, for the account of each Lender executing this letter agreement, of a fee of $7,000 for each such Lender.
 
This letter agreement may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.  Delivery of executed counterparts of this Agreement by facsimile or other secure electronic format (.pdf) shall be effective as an original.   This letter agreement is a Loan Document.  
 
[signature page follows]

 

 

This letter agreement shall be governed by and construed in accordance with the laws of the State of New York.
 
		
	 
	Sincerely,

	 
	 

	 
	BANK OF AMERICA, N.A.,

	 
	as Agent

	 
	 

	 
	 

	By:
	/s/ Bridgett J. Manduk

	Name:
	Bridgett J. Manduk

	Title:
	Assistant Vice President

 
 
ACCEPTED AND AGREED AS OF THE DATE FIRST ABOVE WRITTEN:
 
 
 
			
	BORROWER:
	AMERON INTERNATIONAL

	 
	CORPORATION

	 
	 
	 

	 
	By:
	/s/ James R. McLaughlin

	 
	Name:
	James R. McLaughlin

	 
	Title:
	SVP, Corporate Development & Treasurer

 
		
	By:
	/s/ Gary Wagner

	Name:
	Gary Wagner

	Title:
	SVP, Finance and Administration & CFO

        
 
			
	GUARANTORS:
	ISLAND READY-MIX CONCRETE, INC.

	 
	 
	 

	 
	By:
	/s/ Gary Wagner

	 
	Name:
	Gary Wagner

	 
	Title:
	Vice President

 
			
	 
	CENTRON INTERNATIONAL INC.

	 
	 
	 

	 
	By:
	/s/ Gary Wagner

	 
	Name:
	Gary Wagner

	 
	Title:
	Vice President

 
			
	 
	AMERICAN PIPE AND CONSTRUCTION

	 
	INTERNATIONAL

	 
	 
	 

	 
	By:
	/s/ Gary Wagner

	 
	Name:
	Gary Wagner

	 
	Title:
	Vice President & Treasurer

 

 

 
			
	 
	AMERON HOLDINGS, INC. (f/k/a Contrad)

	 
	 
	 

	 
	By:
	/s/ Gary Wagner

	 
	Name:
	Gary Wagner

	 
	Title:
	Vice President

 
			
	 
	AMERCOAT CORPORATION

	 
	 
	 

	 
	By:
	/s/ Gary Wagner

	 
	Name:
	Gary Wagner

	 
	Title:
	Vice President

 
			
	 
	BONDSTRAND CORPORATION

	 
	 
	 

	 
	By:
	/s/ Gary Wagner

	 
	Name:
	Gary Wagner

	 
	Title:
	Vice President

 
			
	 
	PSX CORPORATION

	 
	 
	 

	 
	By:
	/s/ Gary Wagner

	 
	Name:
	Gary Wagner

	 
	Title:
	Vice President

 
			
	 
	AMERON COMPOSITES INC.

	 
	 
	 

	 
	By:
	/s/ Gary Wagner

	 
	Name:
	Gary Wagner

	 
	Title:
	Vice President

 
			
	 
	BOLENCO CORPORATION

	 
	 
	 

	 
	By:
	/s/ Gary Wagner

	 
	Name:
	Gary Wagner

	 
	Title:
	Vice President

 
			
	 
	TUBOS CALIFORNIA CORPORATION

	 
	 
	 

	 
	By:
	/s/ Gary Wagner

	 
	Name:
	Gary Wagner

	 
	Title:
	Vice President

 

 

 

 
ACCEPTED AND AGREED AS OF THE DATE FIRST ABOVE WRITTEN:
 
			
	LENDERS:
	BANK OF AMERICA, N.A.

	 
	 
	 

	 
	By:
	/s/ G. Scott Lambert

	 
	Name:
	G. Scott Lambert

	 
	Title:
	Vice President

 
			
	 
	BANK OF THE WEST

	 
	 
	 

	 
	By:
	/s/ Brock Mullins

	 
	Name:
	Brock Mullins

	 
	Title:
	Vice President

 
			
	 
	WELLS FARGO BANK, N.A.

	 
	 
	 

	 
	By:
	/s/ Ted Wu

	 
	Name:
	Ted Wu

	 
	Title:
	Vice President

 
			
	 
	UNION BANK, N.A.

	 
	 
	 

	 
	By:
	/s/ Peter C. Thompson

	 
	Name:
	Peter C. Thompson

	 
	Title:
	Vice President

 
			
	 
	COMERICA BANK

	 
	 
	 

	 
	By:
	/s/ Mark C. Skrzynski

	 
	Name:
	Mark C. Skrzynski

	 
	Title:
	Assistant Vice President

 
			
	 
	BANK OF HAWAII

	 
	 
	 

	 
	By:
	/s/ Anna Wu

	 
	Name:
	Anna Wu

	 
	Title:
	Vice President

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