Document:

Amendment No.2 To Participation Agreement

 Exhibit 10.1 
  
 AMENDMENT NO. 2 TO PARTICIPATION AGREEMENT 
  
 THIS AMENDMENT NO. 2 TO PARTICIPATION AGREEMENT (this “Amendment”) is dated as of December 31, 2004, between and
among (i) OLD DOMINION ELECTRIC COOPERATIVE, a utility aggregation cooperative organized under the laws of the Commonwealth of Virginia (“Old Dominion”), (ii) U.S. BANK NATIONAL ASSOCIATION, SUCCESSOR TO STATE STREET BANK AND TRUST
COMPANY, not in its individual capacity, but solely as trustee under the Trust Agreement (the “Owner Trustee”), (iii) WACHOVIA BANK, NATIONAL ASSOCIATION, FORMERLY KNOWN AS FIRST UNION NATIONAL BANK, SUCCESSOR BY MERGER TO FIRST UNION
NATIONAL BANK OF FLORIDA, a national banking association, as Owner Participant (the “Owner Participant”), (iv) UTRECHT-AMERICA FINANCE CO., a Delaware corporation, as Series A Lender and Agent for the Lenders (“Utrecht”), and (v)
CEDAR HILL INTERNATIONAL CORP., a Delaware corporation, as Series B Lender (“Cedar Hill”). 
  
 WITNESSETH: 
  
 WHEREAS, Old Dominion, the Owner Trustee, the Owner Participant and Utrecht entered into certain Operative Documents, including, without limitation, that certain Participation Agreement dated as of February 29, 1996,
which was amended by that certain Amendment No. 1 to Participation Agreement dated as of December 19, 2002, pursuant to which Cedar Hill became the Series B Lender (the “Participation Agreement”); 
  
 WHEREAS, Old Dominion has requested, and the other parties have agreed, to
amend the covenant contained in Section 7.7 of the Participation Agreement, subject to the terms and conditions hereof; 
  
 NOW, THEREFORE, for and in consideration of the above premises and other good and valuable consideration, the receipt and sufficiency of which hereby is
acknowledged by the parties hereto, the parties hereto covenant and agree as follows: 
  

	 	1.	Definitions. Unless otherwise specifically defined herein, each term used herein which is defined in Appendix A to the Participation Agreement shall have the meaning assigned
to such term therein. 

  

	 	2.	Amendment to Section 7.7 of the Participation Agreement. Section 7.7 of the Participation Agreement is hereby deleted in its entirety and replaced with the following:

  
 “Section 7.7. Qualifying Letter of
Credit. If at any time during the Term of the Equipment Operating Lease or the Foundation Operating Lease Old Dominion’s Bonds are either (a) rated below the Minimum Credit Rating 

  

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(as defined herein), or (b) placed on negative credit watch by either S&P or Moody’s while rated at the Minimum Credit Rating for such agency, then
Old Dominion shall, within 90 days of the first date on which Old Dominion’s Bonds meet the condition set forth in either (a) or (b) above, obtain for the benefit of the Owner Participant a Qualifying Letter of Credit. If at any time subsequent
to the date referred to in the preceding sentence Old Dominion’s Bonds are again rated at the Minimum Credit Rating or above and are not on negative credit watch by either S&P or Moody’s while rated at the Minimum Credit Rating for
such agency, then Old Dominion shall not be required to maintain a Qualifying Letter of Credit in accordance with this Section 7.7. If, at any time Old Dominion is required to maintain a Qualifying Letter of Credit pursuant to this Section 7.7, the
bank issuing such Qualifying Letter of Credit shall cease to be a Qualifying Letter of Credit Bank, Old Dominion shall, within 90 days of the earlier of (i) having Actual Knowledge of such fact or (ii) receiving notice from the Owner Participant of
such fact, replace such letter of Credit with a Qualifying Letter of Credit. As used herein, “Minimum Credit Rating” shall mean a rating for Old Dominion’s Bonds that is at least A- by S&P and Baa2 by Moody’s.”

  

	 	3.	Restatement of Representations and Warranties. Old Dominion hereby certifies that each and every representation and warranty heretofore made by it in Sections 3.3(a) –
(h), (j) – (m), (o), (x) – (z) of the Participation Agreement is true and correct as if made on the date hereof (except where reference is made to a specific date) with respect to this Amendment and the Participation Agreement, as amended
by this Amendment. 

  

	 	4.	Effect of Amendment. Except as set forth expressly hereinabove, all terms of the Participation Agreement and the other Operative Documents shall be and remain in full force
and effect. The amendments contained herein shall be deemed to have prospective application only. 

  

	 	5.	Counterparts. This Amendment may be executed in multiple counterparts and by the parties hereto in separate counterparts, each of which when so executed and delivered shall
be deemed to be an original and each of which counterparts, taken together, shall constitute but one and the same instrument. 

  

	 	6.	Section References. Section titles and references used in this Amendment shall be without substantive meaning or content of any kind whatsoever and are not a part of the
agreements among the parties hereto evidenced hereby. 

  

	 	7.	No Default. To induce the parties to enter into this Amendment, Old Dominion hereby acknowledges and agrees that, of the date hereof, and after giving effect to the terms
hereof, no Event of Default, Event of Loss 

  

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 or event that with the passage of time or giving of notice or both would constitute an Event of Default
or Event of Loss has occurred and is continuing.  
  

	 	8.	Further Assurances. Old Dominion agrees to take such further action as any of the parties hereto shall reasonably request in connection herewith to evidence the amendments
herein contained. 

  

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

  

	 	10.	Conditions Precedent. This Amendment shall become effective only upon: 

  

	 	(a)	The execution and delivery of this Amendment by each of the parties hereto. 

  
 IN WITNESS WHEREOF, each of the parties has caused this Amendment to be duly executed, under seal, by its duly authorized officer as of the day and year first written
above. 
  

			
	OLD DOMINION ELECTRIC COOPERATIVE
		
	By:	 	 /s/ Jackson E. Reasor

	Name:	 	Jackson E. Reasor
	Title:	 	President and Chief Executive Officer
	Date:	 	January 11, 2005

  
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CONTINUE ON FOLLOWING PAGE] 
  

 3 

			
	 U.S. BANK NATIONAL ASSOCIATION, SUCCESSOR TO STATE STREET BANK AND TRUST COMPANY, not in its individual capacity, but solely as Owner
Trustee Under the Trust Agreement
  

	By:	 	 /s/ Paul D. Allen

	Name:	 	Paul D. Allen
	Title:	 	Vice President
	Date:	 	 December 29, 2004
  

	 WACHOVIA BANK, NATIONAL ASSOCIATION, FORMERLY KNOWN AS FIRST UNION NATIONAL BANK, SUCCESSOR BY MERGER TO FIRST UNION NATIONAL BANK OF
FLORIDA
  

	By:	 	 /s/ Michael L. Taylor

	Name:	 	Michael L. Taylor
	Title:	 	Managing Director
	Date:	 	 December 27, 2004
  

	 UTRECHT-AMERICA FINANCE CO.
  

	By:	 	 /s/ David Dietz

	Name:	 	David Dietz
	Title:	 	Treasurer
	Date:	 	 December 31, 2004
  

	By:	 	 /s/ Kevin Moclair

	Name:	 	Kevin Moclair
	Title:	 	Assistant Treasurer
	Date:	 	 December 31, 2004
  

	 CEDAR HILL INTERNATIONAL CORP.
  

	By:	 	 /s/ Steven C. Joszef

	Name:	 	Stephen C. Joszef
	Title:	 	Managing Director
	Date:	 	January 10, 2005

  

 4Schedule of Indemnification Agreements

 Exhibit 10.12 
  
 Indemnification Agreements in effect as of January 13, 2005 
  
 Tom A. Alberg 
 Christopher T. Bayley 
 William C. Britts 
 Lisa A. Clarke 
 Jon W. Gacek 
 Frank M. (“Pete”) Higgins 
 John W. Stanton 
 Charles H. Stonecipher 
 Peter H. van Oppen 
 Walter F.
WalkerSchedule of Change of Control Agreements

 Exhibit 10.14 
  
 Change of Control Agreements in effect as of January 13, 2005 
  
 1 Year Agreements 
 Linda Breard 
 Eric Q. Broderson 
 John Chamberlain 
 Randall Hollis 
 Kevin Honeycutt

 Lynn Jacobs 
 Don Martella 
 Jonathan E. Otis 
 Yves Roumier 
 Scott A. Roza 
 Paul G. Rutherford 
 Richard S. Sato 
 Christopher S. Willis 
  
 2 Year Agreements 
 William C. Britts 
 Lisa A. Clarke 
 Jon W. Gacek 
  
 3 Year Agreements 
 Charles H. Stonecipher 
 Peter H. van OppenForm of 1999 Stock Incentive Comp. Plan Non-Qualified Stock Option Agreement

 Exhibit 10.16 
  
 ADVANCED DIGITAL INFORMATION CORPORATION 
  
 1999 STOCK INCENTIVE COMPENSATION PLAN 
  
 NON-QUALIFIED STOCK OPTION AGREEMENT 
  
 ADVANCED DIGITAL INFORMATION CORPORATION (“ADIC”) grants on
            , to              (“Optionee”), an option to purchase
            shares of ADIC’s authorized but unissued common stock without par value at $             per share
pursuant to the ADIC’s 1999 Stock Incentive Compensation Plan (the “Plan”), on the following terms and conditions: 
  
 FORM OF OPTION 
  
 ADIC intends this stock option to be a non-qualified stock option and not an incentive stock option without charge under IRC Section 422. This option is subject to and will be interpreted in accordance with all terms
and conditions of the Plan, as they apply to non-qualified stock options. The Optionee acknowledges receipt of a copy of the summary of the Plan, and may obtain a copy of the Plan upon request to ADIC’s General Counsel. The terms of the Plan
are incorporated by this reference. If any provision of this Agreement conflicts with the Plan, the Plan will control. 
  
 EXERCISE OF OPTION 
  
 The Option will vest and become exercisable according to the following schedule: 
  

			
	 Date of
 Right to Option

	  	 Option
 Shares

  
  
 To the extent that the right to purchase shares has accrued hereunder, this Option may be exercised from time to time by written notice to the Company with payment of the
option exercise price and applicable withholding taxes. 
  
 TERM OF OPTION

  
 The term of this Option is ten years from the date of grant. 

 
 POST-TERMINATION EXERCISES 
  
 If your employment or service relationship with ADIC terminates for any reason before this
Option expires, the unvested portion of this Option will terminate automatically as of such date without notice to you. In case of termination of the Optionee’s employment or service relationship with ADIC for reasons other than cause (as
defined in the Plan), death, disability or retirement, the portion of this Option vested as of the termination date will be exercisable by Optionee for the remaining term of the Option or for three months after the termination date, whichever is
earlier. In case of termination of the Optionee’s employment or service relationship with ADIC for reasons of death, disability or retirement, the portion of this Option vested as of the termination date will be exercisable by the Optionee or,
in the case of death, by the designated beneficiary or the personal representative of the estate of Optionee for the remaining term of the Option or for one year after the termination date, whichever is earlier. If Optionee’s employment or
service relationship with ADIC is terminated for cause (as defined in the Plan), both the vested and unvested portion of this Option will terminate immediately and you will not be permitted to exercise this Option. 
  

					
	ADVANCED DIGITAL INFORMATION CORPORATION	 	OPTIONEE
			
	 By
	 	  

	 	  

	 Its Chairman and Chief Executive Officer
	 	 Name & Address

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