Document:

Secured Promissory Note issued by Digital Lightwave, Inc. to Optel Capital, LLC

 Exhibit 10.1 
  
 THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR THE SECURITIES LAWS
OF ANY STATE, AND HAVE BEEN ACQUIRED FOR INVESTMENT AND NOT WITH A VIEW TO, OR IN CONNECTION WITH, THE SALE OR DISTRIBUTION THEREOF. NO SUCH SALE OR DISTRIBUTION MAY BE EFFECTED WITHOUT AN EFFECTIVE REGISTRATION STATEMENT RELATED THERETO OR AN
OPINION OF COUNSEL IN A FORM SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR THE APPLICABLE SECURITIES LAWS OF ANY STATE. 
  
 SECURED PROMISSORY NOTE 
  

			
	$500,000.00	 	February 13, 2006
	 	 	Clearwater, Florida

  
 For value received,
Digital Lightwave, Inc., a Delaware corporation (the “Company”), promises to pay to Optel Capital, LLC, a Delaware limited liability company (the “Holder”), or its registered assigns, the principal sum of Five
Hundred Thousand Dollars ($500,000.00). Interest shall accrue from the date of this Note on the unpaid principal amount at a rate equal to 10.0% per annum, compounded annually. The interest rate shall be computed on the basis of the actual
number of days elapsed and a year of 360 days. This Note is subject to the following terms and conditions. 
  
 1. Maturity. 
  
 (a) Principal and any accrued but unpaid interest under this Note shall be due and payable upon demand by the Holder at any time after March 31,2006.

  
 (b) Notwithstanding the foregoing, the entire unpaid principal
sum of this Note, together with accrued and unpaid interest thereon, shall become immediately due and payable upon demand by the Holder at any time on or following the occurrence of any of the following events: 
  
 (i) the sale of all or substantially all of the Company’s assets, or
any merger or consolidation of the Company with or into another corporation; other than a merger or consolidation in which the holders of more than 50% of the shares of capital stock of the Company outstanding immediately prior to such transaction
continue to hold (either by the voting securities remaining outstanding or by their being converted into voting securities of the surviving entity) more than 50% of the total voting power represented by the voting securities of the Company, or such
surviving entity, outstanding immediately after such transaction; 
  
 (ii) the inability of the Company to pay its debts as they become due; 

 (iii) the dissolution, termination of existence, or appointment of a receiver, trustee or custodian, for
all or any material part of the property of, assignment for the benefit of creditors by, or the commencement of any proceeding by the Company under any reorganization, bankruptcy, arrangement, dissolution or liquidation law or statute of any
jurisdiction, now or in the future in effect; 
  
 (iv) the
execution by the Company of a general assignment for the benefit of creditors; 
  
 (v) the commencement of any proceeding against the Company under any reorganization, bankruptcy, arrangement, dissolution or liquidation law or statute of any jurisdiction, now or in the future in effect, which is not
cured by the dismissal thereof within ninety (90) days after the date commenced; or 
  
 (vi) the appointment of a receiver or trustee to take possession of the property or assets of the Company. 
  
 2. Payment; Prepayment. All payments shall be made in lawful money of the United States of America at such place as the Holder hereof may
from time to time designate in writing to the Company. Payment shall be credited first to the accrued interest then due and payable and the remainder applied to principal. Prepayment of this Note may be made at any time without penalty. 

 
 3. Transfer; Successors and Assigns. The terms and
conditions of this Note shall inure to the benefit of and be binding upon the respective successors and assigns of the parties. This Note may be transferred only upon surrender of the original Note for registration of transfer, duly endorsed, or
accompanied by a duly executed written instrument of transfer in form satisfactory to the Company. Thereupon, a new note for the same principal amount and accrued interest will be issued to, and registered in the name of, the transferee. Interest
and principal are payable only to the registered holder of this Note. 
  
 4. Governing Law. This Note and all acts and transactions pursuant hereto and the rights and obligations of the parties hereto shall be governed, construed and interpreted in accordance with the laws of the State of Florida,
without giving effect to principles of conflicts of law. 
  
 5.
Notices. Any notice required or permitted by this Agreement shall be in writing and shall be deemed sufficient upon receipt, when delivered personally or by courier, overnight delivery service or confirmed facsimile, or 48 hours after
being deposited in the U.S. mail as certified or registered mail with postage prepaid, if such notice is addressed to the party to be notified at such party’s address or facsimile number as set forth below or as subsequently modified by written
notice. 
  
 6. Amendments and Waivers. Any term of
this Note may be amended only with the written consent of the Company and the Holder. Any amendment or waiver effected in accordance with this Section 6 shall be binding upon the Company, each Holder and each transferee of this Note.

  

 -2- 

 7. Officers and Directors Not Liable. In no event shall any officer or director of the
Company be liable for any amounts due or payable pursuant to this Note. 
  
 8. Security Interest. This Note is secured by all of the assets of the Company in accordance with the Twenty Second Amended and Restated Security Agreement by and between the Company and the Holder dated as of
September 16, 2004 (the “Security Agreement”). In case of an Event of Default (as defined in the Security Agreement), the Holder shall have the rights set forth in the Security Agreement. 
  
 9. Counterparts. This Note may be executed in any number of
counterparts, each of which will be deemed to be an original and all of which together will constitute a single agreement. 
  
 10. Action to Collect on Note. If action is instituted to collect on this Note, the Company promises to pay all costs and expenses,
including reasonable attorney’s fees, incurred in connection with such action. 
  
 11. Loss of Note. Upon receipt by the Company of evidence satisfactory to it of the loss, theft, destruction or mutilation of this Note or any Note exchanged for it, and indemnity satisfactory to the
Company (in case of loss, theft or destruction) or surrender and cancellation of such Note (in the case of mutilation), the Company will make and deliver in lieu of such Note a new Note of like tenor. 
  
 [Remainder of this page intentionally left blank.] 
  

 -3- 

 This Note was entered into as of the date set forth above. 
  

			
	COMPANY:
	
	DIGITAL LIGHTWAVE, INC.
		
	By:	 	 /s/ Robert F. Hussey

	 	 	Robert F. Hussey
	 	 	Interim President and Chief Executive Officer

  
 AGREED TO AND ACCEPTED:

  
 OPTEL CAPITAL, LLC 
  

			
	By:	 	 /s/ Paul Ragaini

	Name:	 	Paul Ragaini
	 	 	        (print)
	Title:	 	Chief Financial OfficerII-VI Incorporated Performance Share Award

 EXHIBIT 10.1 
  
 II-VI INCORPORATED 
 PERFORMANCE SHARE AWARD 
  

			
	 Granted to:
                                        
              
 Social Security #:
                                        
    
	 	 Number of Performance Shares constituting
 Maximum
Award:                      shares

		
	Grant Date:
                                        
              	 	 

  
 THIS PERFORMANCE SHARE
AWARD is granted by II-VI Incorporated, a Pennsylvania corporation (the “Company” or “II-VI”), to you (“Recipient”), a director, employee or consultant of the Company or one of its subsidiaries,
pursuant to the terms and conditions of the II-VI Incorporated 2005 Omnibus Incentive Plan, as amended from time to time (the “Plan”), a summary of which has been delivered to you. This document shall constitute an Award Agreement
as that term is defined in the Plan and is intended to be a Qualified Performance-Based Award within the meaning of Section 2.27 of the Plan. The Company recognizes the value of your continued service as a key employee and has awarded you this
performance share award under the Plan, subject to the following terms and conditions: 
  
 1. Performance Share Award. The Company hereby grants to Recipient a Target Award of
                     Performance Shares under the Plan subject to a Maximum Award of
                     Performance Shares, to be earned in accordance with Section 2 below. For the purposes of this Award:
(1) ”Performance Share” shall mean a bookkeeping entry that records the equivalent of one (1) share of II-VI Common Stock, no par value, granted pursuant to this Award and that is payable solely in shares of II-VI Common
Stock; (2) ”Performance Period” shall mean [DESCRIBE THE PERFORMANCE PERIOD]; (3) ”Target Award” shall mean
                     Performance Shares awarded to Recipient; (4) ”Maximum Award” means the maximum number of
Performance Shares allowable under this Award as set forth above representing             % of the Target Award. 
  
 2. Determination of Shares Earned. Subject to Sections 4 and 5 below, the Company shall deliver to Recipient one
(1) Share for each whole Performance Share that is earned in accordance with the following schedule. 
  

			
	 	 	Performance Shares Earned as
a                                
	 	 	Percentage of Target
Award                                
	[DESCRIBE PERFORMANCE CRITERIA]	 	            %                         
         
	 	 	            %                         
         
	 	 	            %                         
         
	 	 	            % (Maximum Award)  

 Only whole Shares shall be earned in accordance with this Section 4. For the avoidance of doubt, earning 66.67% of a
Target Award of 100 Shares would result in delivery of 67 Shares. 
  
 3. Delivery of Shares. [Unless Recipient has elected to defer receipt of the Performance Shares in accordance with Section 4, and] except as otherwise provided in Section
        , the Company shall cause a stock certificate representing the number of Shares earned and determined under Section 2 to be issued to Recipient as soon as administratively feasible
following the Performance Period (but in no event later that the 15th day of the third month following the date on
which such Shares are earned). 
  
 4. [Deferral.
Recipient may elect in writing on or before the date that is twelve (12) months prior to the end of the Performance Period, or such earlier date as may be designated by the Company (the “Latest Deferral Date”) in
order to satisfy the deferral election requirements of Section 409A of the Internal Revenue Code (the “Code”), to defer the issuance of all or a part of the Performance Shares earned. Any such election shall:
(1) specify the date of issuance for the earned Performance Shares, which shall not be earlier than the fifth anniversary of the original payment date or such other minimum deferral period as may be designated by the Company in order to satisfy
the deferral election requirements of Section 409A of the Code; and (2) comply with all other applicable deferral election requirements of Section 409A of the Code.] 
  
 5. Limitation of Rights; Dividend Equivalents. Recipient (i) shall not have any right to transfer any rights
under the Performance Shares except as permitted by Section 8 below, (ii) shall not have any rights of ownership of the shares of the Company’s Common Stock subject to the Performance Shares before the issuance of such shares, and
(iii) shall not have any right to vote such shares. Recipient, however, shall receive a cash payment equal to the cash dividends paid on shares underlying Performance Shares if and when cash dividends are paid to shareholders of the Company
(but in no event later than March 15th of the calendar year following the calendar year in which such cash
dividends are paid). 
  
 6. Termination of Employment.
Except as provided in Section 7 below, if Recipient’s employment with or service to the Company and its subsidiaries terminates before the end of the Performance Period, this Performance Share Award shall be forfeited on the date of such
termination. 
  
 7. Prorating in Certain Circumstances. If
Recipient’s employment with or service to the Company and its subsidiaries terminates during the Performance Period due to Recipient’s (i) early, normal or late retirement as those terms are defined in the Company’s profit
sharing plan, (ii) death or (iii) total and permanent disability as defined in Section 105(d)(4) of the Internal Revenue Code (the “Code”), Recipient shall be entitled to a prorated portion of the Performance Shares
to the extent earned pursuant to Section 2 above, determined at the end of the Performance Period and based on the ratio of the number of complete months Recipient is employed or serves during the Performance Period to the total number of
months in the Performance Period. Any payments due on Recipient’s death shall be paid to his estate as soon as administratively practicable after the end of the Performance Period. 

 8. Nontransferability. Except as otherwise provided in the Plan, the Performance Shares shall not
be sold, pledged, assigned, hypothecated, transferred or disposed of (a “Transfer”) in any manner, other than by will or the laws of descent and distribution. Any attempt to Transfer the Performance Shares in violation of this
paragraph or the Plan shall render this Award null and void. 
  
 9. Adjustments. The number of shares covered by the Performance Shares and, if applicable, the kind of shares covered by the Performance Shares, shall be adjusted to reflect any stock dividend, stock split, or combination of shares
of the Company’s Common Stock. In addition, the Committee may make or provide for such adjustment in the Performance Shares as the Committee in its sole discretion may in good faith determine to be equitably required in order to prevent
dilution or enlargement of Recipient’s rights that otherwise would result from (a) any exchange of shares of the Company’s Common Stock, recapitalization or other change in the capital structure of the Company, (b) any merger,
consolidation, spin–off, spin–out, split–off, split–up, reorganization, partial or complete liquidation or other distribution of assets (other than a normal cash dividend), issuance of rights or warrants to purchase securities,
or (c) any other corporate transaction or event having an effect similar to any of the foregoing. Moreover, in the event of any such transaction or event, the Committee may provide in substitution for the Performance Shares such alternative
consideration as it may in good faith determine to be equitable under the circumstances and may require in connection therewith the surrender of the Performance Shares so replaced. 
  
 10. Fractional Shares. The Company shall not be required to issue any fractional shares pursuant to this Award, and
the Committee may round fractions either up or down. 
  
 11.
Withholding. Recipient shall pay all applicable federal, state and local income and employment taxes (including taxes of any foreign jurisdiction) which the Company is required to withhold at any time with respect to the Performance Shares
and any cash dividend equivalents paid thereon. Such payment shall be made in full, at Recipient’s election, in cash or check, or by the tender of previously acquired shares of the Company’s Common Stock (including Performance Shares then
earned and immediately deliverable under this Award). Performance Shares tendered as payment of required withholding shall be valued at the closing price per share of the Company’s Common Stock on the date such withholding obligation arises.

  
 12. Plan Provisions. In addition to the terms and
conditions set forth herein, this Award is subject to and governed by the terms and conditions set forth in the Plan, which is hereby incorporated by reference. Unless the context otherwise requires, capitalized terms used in this Award and not
otherwise defined herein shall have the meanings set forth in the Plan. In the event of any conflict between the provisions of the Award and the Plan, the Plan shall control. 
  
 13. No Continued Rights. The granting of this Award shall not give Recipient any rights to similar grants in future
years or any right to continuance of employment or other service with the Company or any one of its subsidiaries, nor shall it interfere in any way with any right that the Company or any one or it’s subsidiaries would otherwise have to
terminate Recipient’s employment or other service at any time, or the right of Recipient to terminate his or her services at any time. 

 14. Rights Unsecured. [The Company shall remain the owner of all Performance Shares deferred by
Recipient pursuant to Section 4 and] Recipient shall have only the Company’s unfunded, unsecured promise to pay pursuant to the terms of this Award. The rights of Recipient hereunder shall be that of an unsecured general creditor of
the Company and Recipient shall not have any security interest in any assets of the Company. 
  
 15. Severability. If any term, provision, covenant or restriction contained in the Award is held by a court or a federal regulatory agency of competent jurisdiction to be invalid, void or unenforceable, the
remainder of the terms, provisions, covenants and restrictions contained in the Award shall remain in full force and effect, and shall in no way be affected, impaired or invalidated. 
  
 16. Controlling Law. The validity, construction and effect of this Award will be determined in accordance with the
internal laws of the Commonwealth of Pennsylvania without giving effect to the conflict of laws. Recipient and the Company hereby irrevocably submit to the exclusive concurrent jurisdiction of the courts of the Commonwealth of Pennsylvania.
Recipient and the Company also both irrevocably waive, to the fullest extent permitted by applicable law, any objection either may now or hereafter have to the laying of venue of any such dispute brought in such court or any defense of inconvenient
forum for the maintenance of such dispute. 
  
 17. Entire
Agreement. The Award contains the entire understanding between the parties and supersedes any prior understanding and agreements between them representing the subject matter hereof with respect to this Award, except that this Award shall be
subject to the terms and conditions set forth in any employment agreement between Recipient and Company. There are no other representations, agreements, arrangements or understandings, oral or written, between and among the parties hereto relating
to the subject matter hereof which are not fully expressed herein. 
  
 18. Captions. Section and other headings contained in this Award are for reference purposes only and are in no way intended to describe, interpret, define or limit the scope, extent or intent of the Award or any provision hereof.

  
 19. Limitation of Actions. Any lawsuit with respect to
any matter arising out of or relating to this Award must be filed no later than one (1) year after the date that a denial of any claim hereunder is made or any earlier date that the claim otherwise accrues. 
  
 20. Section 409A of the Code. This Award is intended to satisfy
all applicable requirements of Section 409A of the Code and shall be construed accordingly. The Company in its discretion may delay payment of Performance Shares, or take any other action it deems necessary to comply with the requirements of
Section 409A of the Internal Revenue Code, including amending the Award, without Recipient’s consent, in any manner it deems necessary to cause the Award to comply with the applicable requirements of Section 409A. Notwithstanding,
Recipient recognizes and acknowledges that Section 409A of the Code may affect the timing and recognition of payments due hereunder, and may impose upon the Recipient certain taxes or other charges for which the Recipient is and shall remain
solely responsible. 

									
	WITNESS	 	 	  	II-VI INCORPORATED
				
	  

	 	 	  	By:	 	  

	[name]	 	 	 	 	  	 	 	[name]
	[title]	 	 	 	 	  	 	 	[title]
	 	 	 	 	 	  	 	 	(Corporate Seal)
				
	WITNESS	 	 	  	 	 	RECIPIENT

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00097-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00097-of-00352.parquet"}]]