Document:

Exhibit 10

Exhibit 10.28

 

HERITAGE OAKS BANK

SALARY CONTINUATION AGREEMENT

 

THIS AGREEMENT is adopted this

1st day of February 2002, by and between HERITAGE OAKS BANK, a state-chartered

commercial bank located in Paso Robles, California (the “Bank”), and CHRISSAL

SANDS (the “Executive”).

 

INTRODUCTION

 

To encourage the Executive

to remain an employee of the Bank, the Bank is willing to provide salary

continuation benefits to the Executive. 

The Bank will pay the benefits from its general assets.

 

AGREEMENT

 

The Bank and the Executive agree

as follows:

 

Article 1

Definitions

 

Whenever used in this Agreement, the following words and phrases shall

have the meanings specified:

 

1.1                                 “Change of Control” means:

 

(a)           A change in the

ownership of the capital stock of the Company, whereby another corporation,

person, or group acting in concert (hereinafter this Agreement shall

collectively refer to any combination of these three [another corporation,

person, or group acting in concert] as a “Person”) as described in Section 14(d)(2)

of the Securities Exchange Act of 1934, as amended (the “Exchange Act”),

acquires, directly or indirectly, beneficial ownership (within the meaning of

Rule 13d-3 promulgated under the Exchange Act) of a number of shares of capital

stock of the Company which constitutes fifty percent (50%) or more of the

combined voting power of the Company’s 

then outstanding capital stock then entitled to vote generally in the

election of directors; or

 

(b)           The persons who were

members of the Board of Directors of the Company  immediately prior to a tender offer, exchange offer, contested

election or any combination of the foregoing, cease to constitute a majority of

the Board of Directors; or

 

(c)           The adoption by the

Board of Directors of the Company of a merger, consolidation or reorganization

plan involving the Company in which the Company is not the surviving entity, or

a sale of all or substantially all of the assets of the Company.  For purposes of this Agreement, a sale of all

or substantially all of the assets of the Company shall be deemed to occur if

any Person acquires (or during the 12-month period ending on the date of the

most recent acquisition by such Person, has acquired) gross assets of the

Company that have an aggregate fair market value equal to fifty percent (50%)

or more of the fair market value of all of the respective gross assets of the

Company immediately prior to such acquisition or acquisitions; or

 

(d)           A tender offer or

exchange offer is made by any Person which results in such Person beneficially

owning (within the meaning of Rule 13d-3 promulgated under the Exchange Act)

either fifty percent (50%) or more of the Company’s outstanding shares of

Common Stock or shares of capital stock having fifty percent (50%) or more the

combined voting power of the Company’s then outstanding capital stock (other

than an offer made by the Company), and sufficient shares are acquired under

the offer to cause such person to own fifty percent (50%) or more of the voting

power; or

 

(e)           Any other

transactions or series of related transactions occurring which have

substantially the same effect as the transactions specified in any of the

preceding clauses of this Section 1.1.

 

Notwithstanding

the above, certain transfers are permitted within Section 318 of the Code and

such transfers shall not be deemed a Change of Control under this Section 1.2.

 

 

1.2. “Code” means the

Internal Revenue Code of 1986, as amended.

 

1.1                   “Company” means Heritage Oaks Bancorp

 

1.2                   “Bank” means Heritage Oaks Bank

 

1.3                   “Disability” means the Executive’s suffering a sickness,

accident or injury which has been determined by the carrier of any individual

or group disability insurance policy covering the Executive, or by the Social

Security Administration, to be a disability rendering the Executive totally and

permanently disabled.  The Executive

must submit proof to the Bank of the carrier’s or Social Security

Administration’s determination upon the request of the Bank.

 

1.4                   “Early Termination” means the Termination of Employment before Normal

Retirement Age for reasons other than death, Disability, Termination for Cause

or following a Change of Control.

 

1.5                   “Early Termination Date” means the month, day and year in which Early

Termination occurs.

 

1.6                   “Effective Date” means February 1, 2002.

 

1.7                   “Normal Retirement Age” means the Executive’s 65TH  birthday.

 

1.8                   “Normal Retirement Date” means the later of the Normal Retirement Age or

Termination of Employment.

 

1.9                   “Plan Year” means each 12-month period from the Effective

Date.

 

1.10             “Termination for Cause” See Article 5.

 

1.11             “Termination of Employment” means that the Executive ceases to be employed by

the Bank for any reason, voluntary or involuntary, other than by reason of a

leave of absence approved by the Bank.

 

Article 2

Lifetime Benefits

 

2.1       Normal Retirement Benefit. 

Upon Termination of Employment on or after the Normal Retirement Age  for

reasons other than death, the Bank shall pay to the Executive the benefit

described in this Section 2.1 in lieu of any other benefit under this Agreement.

 

2.1.1        Amount of Benefit. 

The annual benefit under this Section 2.1 is $18,000 (Eighteen Thousand

Dollars).  The Bank’s Board of

Directors, in its sole discretion, may increase the annual benefit under this

Section 2.1.1; however, an increase shall require the recalculation of Schedule

A.

 

2.1.2        Payment of Benefit. 

The Bank shall pay the annual benefit to the Executive in 12 equal

monthly installments commencing with the month following the Executive’s Normal

Retirement Date, paying the annual benefit to the Executive for a period of 15

years.

 

2

 

2.2       Early Termination Benefit.  Upon Early Termination, the Bank shall pay

to the Executive the benefit described in this Section 2.2 in lieu of any other

benefit under this Agreement.

 

2.2.1        Amount

of Benefit.  The benefit

under this Section 2.2 is the Early Termination Lump Sum set forth on Schedule

A for the Plan Year ending immediately prior to the Early Termination Date,

determined by vesting the Executive in 10 percent of the Accrual Balance set

forth on Schedule A for the first Plan Year and an additional 10 percent of

said amount for each succeeding year thereafter until the Executive becomes 100

percent vested in the Accrual Balance.

 

2.2.2        Payment

of Benefit.  The Bank shall

pay the benefit to the Executive in a lump sum amount pursuant to Schedule A,

within 90 days following the Early Termination date.

 

2.3       Disability

Benefit.  If the Executive

terminates employment due to Disability prior to Normal Retirement Age, the

Bank shall pay to the Executive the benefit described in this Section 2.3 in

lieu of any other benefit under this Agreement.

 

2.3.1        Amount

of Benefit.  The benefit

under this Section 2.3 is the Disability Annual Benefit set forth on Schedule A

for the Plan Year ending immediately prior to the date in which the Termination

of Employment occurs (except during the first Plan Year, the benefit is the

amount set forth for Plan Year 1), determined by vesting the Executive in  100 percent of the Accrual Balance.

 

2.3.2        Payment

of Benefit.  The Bank shall

pay the annual benefit to the Executive in 12 equal monthly installments

commencing with the month following the Normal Retirement Age, paying the

annual benefit to the Executive for a period of 15 years.

 

2.4       Change

of Control Benefit.  Upon a

Change of Control, the Bank shall pay to the Executive the benefit described in

this Section 2.4 in lieu of any other benefit under this Agreement.

 

2.4.1        Amount

of Benefit.  The benefit

under this Section 2.4 is the Change of Control Annual Benefit set forth on

Schedule A for the Plan Year ending immediately prior to the date in which

Termination of Employment occurs (except during the first Plan Year, the

benefit is the amount set forth for Plan Year 1), determined by vesting the

Executive in the Normal Retirement Benefit described in Section 2.1.1.

 

2.4.2        Payment

of Benefit.   The Bank shall pay the annual benefit to the

Executive in 12 equal monthly installments commencing with the month following

the Normal Retirement Age, paying the annual benefit to the Executive for a

period of 15 years.

 

2.4.3        Excess Parachute Payment. 

Notwithstanding any provision of this Agreement to the contrary, the

Bank shall not pay any benefit under this Agreement to the extent the benefit

would create an excise tax under the excess parachute rules of Section 280G of

the Code.

 

Article 3

Death Benefits

 

3.1       Death During Active Service.  If the Executive dies while in the active service of the Bank,

the Bank shall pay to the Executive’s beneficiary the benefit described in this

Section 3.1.  This benefit shall be paid

in lieu of the benefits under Article 2.

 

3.1.1        Amount of Benefit. 

The annual benefit under this Section 3.1 is the Normal Retirement

Benefit amount described in Section 2.1.1.

 

3.1.2        Payment of Benefit. 

The Bank shall pay the annual benefit to the Executive’s 

 

3

 

beneficiary in 12 equal monthly

installments commencing with the month following the Executive’s death, paying

the annual benefit to the Executive’s beneficiary for a period of 15 years.

 

3.2       Death During Payment of a Lifetime Benefit.  If the Executive dies after any Lifetime

Benefit payments have commenced under this Agreement but before receiving all

such payments, the Bank shall pay the remaining benefits to the Executive’s

beneficiary at the same time and in the same amounts they would have been paid

to the Executive had the Executive survived.

 

3.3       Death After Termination of Employment But Before Payment of a Lifetime

Benefit Commences.  If

the Executive is entitled to a Lifetime Benefit under this Agreement, but dies

prior to the commencement of said benefit payments, the Bank shall pay the same

benefit payments to the Executive’s beneficiary that the Executive was entitled

to prior to death except that the benefit payments shall commence on the first

day of the month following the date of the Executive’s death.

 

Article 4

Beneficiaries

 

4.1       Beneficiary Designations. 

The Executive shall designate a beneficiary by filing a written

designation with the Bank.  The

Executive may revoke or modify the designation at any time by filing a new

designation.  However, designations will

only be effective if signed by the Executive and received by the Bank during the

Executive’s lifetime.  The Executive’s

beneficiary designation shall be deemed automatically revoked if the

beneficiary predeceases the Executive, or if the Executive names a spouse as

beneficiary and the marriage is subsequently dissolved.  If the Executive dies without a valid

beneficiary designation, all payments shall be made to the Executive’s estate.

 

4.2       Facility of Payment. 

If a benefit is payable to a minor, to a person declared incompetent, or

to a person incapable of handling the disposition of his or her property, the

Bank may pay such benefit to the guardian, legal representative or person

having the care or custody of such minor, incompetent person or incapable

person.  The Bank may require proof of incompetence,

minority or guardianship as it may deem appropriate prior to distribution of

the benefit.  Such distribution shall

completely discharge the Bank from all liability with respect to such benefit.

 

Article 5

General Limitations

 

5.1       Termination for Cause. 

Notwithstanding any provision of this Agreement to the contrary, the

Bank shall not pay any benefit under this Agreement if the Bank terminates the

Executive’s employment for:

 

(a)       Gross negligence or gross neglect of duties;

 

(b)       Commission of a felony or of a gross misdemeanor involving

moral turpitude; or

 

(c)       Fraud, disloyalty, dishonesty or willful violation of any law

or significant Bank policy committed in connection with the Executive’s

employment and resulting in an adverse effect on the Bank.

 

5.2       Suicide or Misstatement. 

The Bank shall not pay any benefit under this Agreement if the Executive

commits suicide within three years after the date of this Agreement.  In addition, the Bank shall not pay any

benefit under this Agreement if the Executive has made any material misstatement

of fact on an employment application or resume provided to the Bank, or on any

application for any benefits provided by the Bank to the Executive.

 

4

 

Article 6

Claims and Review Procedure

 

6.1       Claims Procedure.  Any person or entity (“claimant”) who has

not received benefits under the Agreement that he or she believes should be

paid shall make a claim for such benefits as follows:

 

6.1.1        Initiation — Written Claim.  The claimant initiates a claim by submitting

to the Bank a written claim for the benefits.

 

6.1.2        Timing of Bank Response.  The Bank shall respond to such claimant

within 90 days after receiving the claim. 

If the Bank determines that special circumstances require additional

time for processing the claim, the Bank can extend the response period by an

additional 90 days by notifying the claimant in writing, prior to the end of

the initial 90-day period, that an additional period is required.  The notice of extension must set forth the

special circumstances and the date by which the Bank expects to render its

decision.

 

6.1.3        Notice of Decision.  If the Bank denies part or all of the claim,

the Bank shall notify the claimant in writing of such denial.  The Bank shall write the notification in a manner

calculated to be understood by the claimant. 

The notification shall set forth:

 

(a)       The specific reasons for the denial;

 

(b)       A reference to the specific provisions of the Agreement on

which the denial is based;

 

(c)       A description of any additional information or material

necessary for the claimant to perfect the claim and an explanation of why it is

needed;

 

(d)       An explanation of the Agreement’s review procedures and the

time limits applicable to such procedures; and

 

(e)       A statement of the claimant’s right to bring a civil action

under ERISA Section 502(a) following an adverse benefit determination on

review.

 

6.2       Review Procedure.  If the Bank denies part or all of the claim,

the claimant shall have the opportunity for a full and fair review by the Bank

of the denial, as follows:

 

6.2.1        Initiation — Written

Request.  To initiate the

review, the claimant, within 60 days after receiving the Bank’s notice of

denial, must file with the Bank a written request for review.

 

6.2.2        Additional Submissions — Information

Access.  The claimant shall

then have the opportunity to submit written comments, documents, records and

other information relating to the claim. 

The Bank shall also provide the claimant, upon request and free of

charge, reasonable access to, and copies of, all documents, records and other

information relevant (as defined in applicable ERISA regulations) to the

claimant’s claim for benefits.

 

6.2.3        Considerations on Review.  In considering the review, the Bank shall

take into account all materials and information the claimant submits relating

to the claim, without regard to whether such information was submitted or

considered in the initial benefit determination.

 

6.2.4        Timing of Bank Response.  The Bank shall respond in writing to such

claimant within 60 days after receiving the request for review.  If the Bank determines that special

circumstances require additional time for processing the claim, the Bank can

extend the response period by an additional 60 days by notifying the claimant

in writing, prior to the end of the initial 60-day period, that an additional

period is required.  The notice of

extension must set forth the special circumstances and the date by which the

Bank expects to render its decision.

 

5

 

6.2.5        Notice of Decision.  The Bank shall notify the claimant in

writing of its decision on review.  The

Bank shall write the notification in a manner calculated to be understood by

the claimant.  The notification shall

set forth:

 

(a)       The specific reasons for the denial;

 

(b)       A reference to the specific provisions of the Agreement on

which the denial is based;

 

(c)       A statement that the claimant is entitled to receive, upon

request and free of charge, reasonable access to, and copies of, all documents,

records and other information relevant (as defined in applicable ERISA

regulations) to the claimant’s claim for benefits; and

 

(d)       A statement of the claimant’s right to bring a civil action

under ERISA Section 502(a).

 

Article 7

Amendments and Termination

 

This Agreement may be amended or

terminated only by a written agreement signed by the Bank and the Executive.

 

Article 8

Miscellaneous

 

8.1       Binding Effect.  This

Agreement shall bind the Executive and the Bank, and their beneficiaries,

survivors, executors, successors, administrators and transferees.

 

8.2       No Guarantee of Employment. 

This Agreement is not an employment policy or contract.  It does not give the Executive the right to

remain an employee of the Bank, nor does it interfere with the Bank’s right to

discharge the Executive.  It also does

not require the Executive to remain an employee nor interfere with the

Executive’s right to terminate employment at any time.

 

8.3       Non-Transferability.

Benefits under this Agreement cannot be sold, transferred, assigned, pledged,

attached or encumbered in any manner.

 

8.4       Reorganization.  The

Bank shall not merge or consolidate into or with another Bank, or reorganize,

or sell substantially all of its assets to another Bank, firm, or person unless

such succeeding or continuing Bank, firm, or person agrees to assume and

discharge the obligations of the Bank under this Agreement.  Upon the occurrence of such event, the term

“Bank” as used in this Agreement shall be deemed to refer to the successor or

survivor Bank.

 

8.5       Tax Withholding.  The

Bank shall withhold any taxes that are required to be withheld from the

benefits provided under this Agreement.

 

8.6       Applicable Law.  The

Agreement and all rights hereunder shall be governed by the laws of the State of

California, except to the extent preempted by the laws of the United States of

America.

 

8.7       Unfunded Arrangement. 

The Executive and beneficiary are general unsecured creditors of the

Bank for the payment of benefits under this Agreement.  The benefits represent the mere promise by

the Bank to pay such benefits.  The

rights to benefits are not subject in any manner to anticipation, alienation,

sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by

creditors.  Any insurance on the Executive’s

life is a general asset of the Bank to which the Executive and beneficiary have

no preferred or secured claim.

 

6

 

8.8       Entire

Agreement.  This Agreement

constitutes the entire agreement between the Bank and the Executive as to the

subject matter hereof.  No rights are

granted to the Executive by virtue of this Agreement other than those

specifically set forth herein.

 

8.9       Administration.  The

Bank shall have powers which are necessary to administer this Agreement,

including but not limited to:

 

(a)                      Establishing and revising the method of

accounting for the Agreement;

 

(b)                     Maintaining a record of benefit payments;

 

(c)       Establishing rules and prescribing any forms necessary or

desirable to administer the Agreement; and

 

8.10     Named Fiduciary. The Bank shall be the named fiduciary and

plan administrator under this Agreement. 

It may delegate to others certain aspects of the management and

operational responsibilities including the employment of advisors and the

delegation of ministerial duties to qualified individuals.

 

IN WITNESS WHEREOF, the

Executive and the Bank have signed this Agreement.

 

	

  EXECUTIVE:

  	

   

  	

   

  	

  BANK:

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

  HERITAGE OAKS BANK

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

  By

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  Chrissal Sands

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

  Title

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
										

 

7FOURTH AMENDMENT TO REVOLVING CREDIT,

Exhibit

10.12

FOURTH AMENDMENT TO REVOLVING CREDIT,

TERM LOAN AND SECURITY AGREEMENT

 

This FOURTH AMENDMENT TO REVOLVING CREDIT, TERM LOAN AND

SECURITY AGREEMENT (this “Amendment”) is made and entered into this

22nd day of April, 2002 and is to be effective as of February 28, 2002, by and

among AAF-MCQUAY INC., a Delaware

corporation “Borrower”); the various financial institutions listed on the

signature pages hereof and their respective successors and permitted assigns

which become “Lenders”; and PNC BANK,

NATIONAL ASSOCIATION, a national association (“PNC”), as collateral

and administrative agent for Lenders (PNC, together with its successors in such

capacity, the “Agent”).

 

Recitals:

 

Agent, Lenders

and Borrower are parties to a certain Revolving Credit, Term Loan and Security

Agreement dated September 30, 1999 (as at any time amended, the “Credit

Agreement”) pursuant to which Lenders have made certain revolving credit and

term loans to Borrower.

 

The parties

desire to amend the Credit Agreement as hereinafter set forth.

 

NOW,

THEREFORE, for TEN DOLLARS ($10 .00) in hand paid and other good and valuable

consideration, the receipt and sufficiency of which are hereby severally

acknowledged, the parties hereto, intending to be legally bound hereby, agree

as follows:

 

1.             Definitions.  All capitalized terms used in this

Amendment, unless otherwise defined herein, shall have the meaning ascribed to

such terms in the Credit Agreement.

 

2.             Amendments

to Credit Agreement.  The Credit Agreement is hereby amended by deleting the Section

6.7 in its entirety and inserting the following in lieu thereof:

 

6.7  Consolidated

Total Assets. 

Maintain, at all times, Consolidated Total Assets of at least

$560,000,000.

 

3.             Consent

to Prepayment of Indebtedness.  Notwithstanding the provisions of Section

7.17 of the Credit Agreement, the Lenders hereby consent to Borrower prepaying

up to $1.045,000 of the Indebtedness evidenced by the $3,300,000 City of

Plymouth, Minnesota Industrial Development Revenue Bonds (McQuay-Perfex Project)

Series 1979.

 

 

4.             Ratification

and Reaffirmation.  Borrower hereby ratifies and reaffirms the Obligations, each of

the Loan Documents and all of Borrower’s covenants, duties, indebtedness and

liabilities under the Loan Documents.

 

5.             Acknowledgments

and Stipulations. 

Borrower acknowledges and stipulates that the Credit Agreement and the

other Loan Documents executed by Borrower are legal, valid and binding

obligations of Borrower that are enforceable against Borrower in accordance

with the terms thereof; all of the Obligations are owing and payable without

defense, offset or counterclaim (and to the extent there exists any such

defense, offset or counterclaim on the date hereof, the same is hereby waived

by Borrower); the security interests and liens granted by Borrower in favor of

Lender are duly perfected, first priority security interests and liens; the

unpaid principal amount of the Revolving A Advances on and as of the opening of

business on April 17, 2002, totaled $49,151,216.59; the unpaid principal amount

of the Revolving B Advances on and as of the opening of business on April 17,

2002, totaled $0; and the unpaid principal amount of the Term Loan on and as of

the opening of business on April 17, 2002, totaled $13,725,000.00.

 

6.             Representations

and Warranties. 

Borrower represents and warrants to Agent and Lenders, to induce Agent

and Lenders to enter into this Amendment, that no Default or Event of Default

exists on the date hereof; the execution, delivery and performance of this

Amendment have been duly authorized by all requisite corporate action on the

part of Borrower and this Amendment has been duly executed and delivered by

Borrower; and all of the representations and warranties made by Borrower in the

Credit Agreement are true and correct on and as o f the date hereof.

 

7.             Breach

of Amendment. 

This Amendment shall be part of the Credit Agreement and a breach of any

of any representation, warranty or covenant here in shall constitute an Event

of Default.

 

8.             Expenses

of Agent and Lenders.  Borrower agrees to pay, on

demand, all reasonable costs and expenses incurred by Agent and

Lenders in connection with the preparation, negotiation and execution of this

Amendment and any other Loan Documents executed pursuant hereto and any and all

amendments, modifications, and supplements thereto, including, without

limitation, the costs and fees of Agent’s legal counsel and any taxes or

expenses associated with or incurred in connection with any instrument or

agreement referred to herein or contemplated hereby.

 

9.             Effectiveness;

Governing Law. 

This Amendment shall be effective upon acceptance by Agent and

Lenders  (notice of which acceptance is

hereby waived), whereupon the same shall be governed by and construed in

accordance with the internal laws of the State of New York.

 

10.          Successors

and Assigns. 

This Amendment shall be binding upon and inure to the benefit of the

parties hereto and their respective successors and assigns.

 

11.          No

Novation, etc. 

Except as otherwise expressly provided in this Amendment, nothing herein

shall be deemed to amend or modify any provision of the Credit Agreement or any

of the other Loan Documents, each of which shall remain in full force and

effect.  This Amendment is not intended

to be, nor shall it be construed to create, a novation or accord and

satisfaction, and the Credit Agreement as herein modified shall continue in

full force and effect.

 

2

 

12.          Counterparts;

Telecopied Signatures.  This Amendment may be executed in any number of counterparts and

by different parties to this Amendment on separate counterparts, each of which,

when so executed, shall be deemed an original, but all such counterparts shall

constitute one and the same agreement. 

Any signature delivered by a party by facsimile transmission shall be

deemed to be an original signature hereto.

 

13.          Further

Assurances. 

Borrower agrees to take such further actions as Agent and Lenders shall

reasonably request from time to time in connection herewith to evidence or give

effect to the amendments set forth herein or any of the transactions

contemplated hereby.

 

14.          Section

Titles. 

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.

 

15.          Release

of Claims.  To induce Agent and

Lenders to enter into this Amendment, Borrower hereby releases, acquits and

forever discharges Agent and each Lender, and all their respective officers, directors,

agents, employees, successors and assigns of Lender, from any and all

liabilities, claims, demands, actions or causes of action of any kind or nature

(if there be any), whether absolute or contingent, disputed or undisputed, at

law or in equity, or known or unknown, that Borrower now has or ever had

against Agent and each Lender arising under or in connection with any of the

Loan Documents or otherwise.  Borrower

represents and warrants to Agent and Lenders that Borrower has not transferred

or assigned to any Person any claim that Borrower ever had or claimed to have

against Agent or any Lender.

 

[Amendment continues on the following page]

 

3

 

16.          Waiver

of Jury Trial.  To the fullest

extent permitted by Applicable Law, the parties hereto each hereby waives the

right to trial by jury in any action, suit, counterclaim or proceeding arising

out of or related to this Amendment.

 

IN WITNESS

WHEREOF, the parties hereto have caused this Amendment to be duly executed

under seal, and delivered by their respective duly authorized officers on the

date first written above.

 

	

  ATTEST:

  	

  AAF-MCQUAY INC.

  
	

   

  	

  (“Borrower”)

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

   

  	

  By:

  	

   

  	

   

  
	

   

  	

  Name:

  	

   

  	

   

  	

   

  	

  Name:

  	

   

  	

   

  
	

   

  	

  Title:

  	

   

  	

   

  	

   

  	

  Title:

  	

   

  	

   

  
	

   

  	

   

  	

   

  
	

  [CORPORATE SEAL]

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  
	

   

  	

  PNC BANK, NATIONAL ASSOCIATION, as a Lender

  and as Agent

  
	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  
	

   

  	

  By:

  	

   

  	

   

  
	

   

  	

   

  	

  Name:

  	

   

  	

   

  
	

   

  	

   

  	

  Title:

  	

   

  	

   

  
	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  
	

   

  	

  BANK OF AMERICA, N.A., as a Lender

  
	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  
	

   

  	

  By:

  	

   

  	

   

  
	

   

  	

   

  	

  Name:

  	

   

  	

   

  
	

   

  	

   

  	

  Title:

  	

   

  	

   

  
	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  
	

   

  	

  US BANK N.A. (f/k/a Firstar Bank, N.A.), as

  a Lender

  
	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  
	

   

  	

  By:

  	

   

  	

   

  
	

   

  	

   

  	

  Name:

  	

   

  	

   

  
	

   

  	

   

  	

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  FLEET CAPITAL CORPORATION, as a Lender

  
	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  
	

   

  	

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  BANK ONE, MICHIGAN, as a Lender

  
	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  
	

   

  	

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5

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00038-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00038-of-00352.parquet"}]]