Document:

Exhibit 10.1

FIRST AMENDMENT

TO

CREDIT AGREEMENT

 

First Amendment
dated as of March 21, 2006 to Credit Agreement (the “First Amendment”), by and among KEANE, INC., a Massachusetts corporation (the “Borrower”) and BANK OF AMERICA, N.A. and the other lending institutions
listed on Schedule 2.01 to the Credit
Agreement (as hereinafter defined) (the “Lenders”), BANK OF AMERICA, N.A., in its capacity as
administrative agent for the Lenders (the “Administrative
Agent”), amending certain provisions of the Credit Agreement dated as of September 15,
2005 (as amended and in effect from time to time, the “Credit Agreement”) by and among the Borrower, the Lenders, Bank of
America, N.A., as Administrative Agent, Swing Line Lender and L/C Issuer,
Keybank National Association, as Syndication Agent and Wachovia Bank, National
Association, as Documentation Agent. Terms not otherwise defined herein which
are defined in the Credit Agreement shall have the same respective meanings
herein as therein.

WHEREAS,
the Borrower, the Administrative Agent and the Lenders have agreed to modify
certain terms and conditions of the Credit Agreement as specifically set forth
in this First Amendment;

NOW,
THEREFORE, in consideration of the premises and the mutual
agreements contained herein and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto
hereby agree as follows:

§1. Amendment to
§7.02 of the Credit Agreement. Section 7.02 of the
Credit Agreement is hereby amended by (i) deleting paragraph (k) therein
in its entirety and substituting therefor the following new paragraph (k): “(k)  Guarantees
permitted by Section 7.03 (other than Guarantees of Swap Contracts
of a Subsidiary which is not a Guarantor pursuant to Section 7.03(d) hereof)”;
(ii) deleting the period at the end of paragraph (l) therein and
substituting therefor “; and”; and (iii) adding a new paragraph (m) in
the appropriate alphabetical order: “(m)  Guarantees of obligations
of any Subsidiary that is not a Guarantor arising under Swap Contracts pursuant
to Section 7.03(d) in an amount not exceeding $20,000,000 in
the aggregate at any time outstanding.”

§2. Conditions to
Effectiveness. This First Amendment shall not become
effective until the Administrative Agent receives a counterpart of this First
Amendment, executed by the Borrower, the Required Lenders and the Guarantors.

§3. Representations
and Warranties. The Borrower hereby repeats, on and as of
the date hereof, each of the representations and warranties made by it in Article V
of the Credit 

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Agreement (except to the extent of changes resulting
from transactions contemplated or permitted by the Credit Agreement (as amended
by this First Amendment) and the other Loan Documents and changes occurring in
the ordinary course of business that singly or in the aggregate are not
materially adverse, and to the extent that such representations and warranties
relate expressly to an earlier date), provided,
that all references therein to the Credit Agreement shall refer to such Credit
Agreement as amended hereby. In addition, the Borrower hereby represents and
warrants that the execution and delivery by the Borrower of this First
Amendment and the performance by the Borrower of all of its agreements and
obligations under the Credit Agreement as amended hereby are within the
authority of the Borrower and have been duly authorized by all necessary action
on the part of the Borrower.

§4. Ratification,
Etc. Except as expressly
amended hereby, the Credit Agreement , the other Loan Documents (which, for the
avoidance of doubt, shall included the Guaranty)  and all documents, instruments and agreements
related thereto are hereby ratified and confirmed in all respects and shall
continue in full force and effect. The Credit Agreement and this First
Amendment shall be read and construed as a single agreement. All references in
the Credit Agreement or any related agreement or instrument to the Credit
Agreement shall hereafter refer to the Credit Agreement as amended hereby.

§5. No Waiver. Nothing
contained herein shall constitute a waiver of, impair or otherwise affect any
Obligations, any other obligation of the Borrower or any rights of the
Administrative Agent or the Lenders consequent thereon.

§6. Counterparts.
This First Amendment may be executed in one or more counterparts, each of which
shall be deemed an original but which together shall constitute one and the
same instrument.

§7. Governing Law.
THIS FIRST AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE
LAWS OF THE COMMONWEALTH OF MASSACHUSETTS (WITHOUT REFERENCE TO CONFLICT OF
LAWS).

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IN
WITNESS WHEREOF, the parties hereto have executed this First
Amendment as a document under seal as of the date first above written.

	
  

  	
  KEANE, INC., as Borrower

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ JOHN J.
  LEAHY

  
	
   

  	
   

  	
     John J.
  Leahy

  
	
   

  	
   

  	
     Executive
  Vice President and Chief Financial Officer

  
	
   

  	
   

  	
   

  
	
   

  	
  BANK OF
  AMERICA, N.A., as
  Administrative Agent

  
	
   

  	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ TAMISHA
  EASON

  
	
   

  	
   

  	
  Name: Tamisha
  Eason

  
	
   

  	
   

  	
  Title: Vice
  President

  
	
   

  	
   

  	
   

  
	
   

  	
  BANK OF
  AMERICA, N.A., as a Lender, Swing Line Lender and L/C
  Issuer

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ WILLIAM S.
  ROWE

  
	
   

  	
   

  	
  Name: William S.
  Rowe

  
	
   

  	
   

  	
  Title: Principal

  
	
   

  	
   

  	
   

  
	
   

  	
  KEYBANK
  NATIONAL ASSOCIATION, as a Lender and as Syndication Agent

  
	
   

  	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ DANIEL
  DIMARCO

  
	
   

  	
   

  	
  Name: Daniel
  DiMarco

  
	
   

  	
   

  	
  Title: Assistant
  Vice President

  
	
   

  	
   

  	
   

  

 

 -

 

	
  

  	
  WACHOVIA
  BANK, NATIONAL ASSOCIATION, as a Lender and as
  Documentation Agent

  
	
   

  	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ KAREN H.
  MCCLAIN

  
	
   

  	
   

  	
  Name: Karen H.
  McClain

  
	
   

  	
   

  	
  Title: Managing
  Director

  
	
   

  	
   

  	
   

  
	
   

  	
  SOVEREIGN
  BANK, as a Lender

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   /s/ GREG BATSEVITSKY

  
	
   

  	
   

  	
  Name: Greg
  Batsevitsky

  
	
   

  	
   

  	
  Title: Vice
  President

  
	
   

  	
   

  	
   

  
	
   

  	
  HSBC
  BANK USA, NATIONAL ASSOCIATION, as a Lender

  
	
   

  	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ DAN LOBDELL

  
	
   

  	
   

  	
  Name: Dan
  Lobdell

  
	
   

  	
   

  	
  Title: Vice
  President

  
	
   

  	
   

  	
   

  
	
   

  	
  WELLS
  FARGO BANK, NATIONAL ASSOCIATION, as a Lender

  
	
   

  	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ JORDAN
  FRAGIACOMO

  
	
   

  	
   

  	
  Name: Jordan
  Fragiacomo

  
	
   

  	
   

  	
  Title: Vice
  President

  
	
   

  	
   

  	
   

  
	
   

  	
  CITICORP
  USA, INC., as a
  Lender

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ ROSS
  LEVITSKY

  
	
   

  	
   

  	
  Name: Ross
  Levitsky

  
	
   

  	
   

  	
  Title:
  Director/Vice President

  

 

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RATIFICATION OF GUARANTY

Each of the
undersigned guarantors (the “Guarantors”) hereby acknowledges and
consents to the foregoing First Amendment as of March 21, 2006, and agrees
that the Guaranty dated as of September 15, 2005 from each Guarantor to
the Administrative Agent and each Lender remains in full force and effect, and
each such Guarantor confirms and ratifies all of its obligations thereunder.

	
  

  	
  KEANE FEDERAL SYSTEMS, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ JOHN J.
  LEAHY

  
	
   

  	
   

  	
  John J. Leahy,
  Treasurer

  
	
   

  	
   

  	
   

  
	
   

  	
  ANSTEC,
  INC.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ JOHN J.
  LEAHY

  
	
   

  	
   

  	
  John J. Leahy,
  Treasurer

  
	
   

  	
   

  	
   

  
	
   

  	
  CRESTA
  TESTING, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ JOHN J.
  LEAHY

  
	
   

  	
   

  	
  John J. Leahy,
  Treasurer

  
	
   

  	
   

  	
   

  
	
   

  	
  KEANE
  DELAWARE CORP.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ JOHN J.
  LEAHY

  
	
   

  	
   

  	
  John J. Leahy,
  Treasurer

  
	
   

  	
   

  	
   

  

 

 -

 

	
  

  	
  KEANE
  GENERAL PARTNERSHIP

  
	
   

  	
  By: Keane, Inc.,
  Managing General Partner

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ JOHN J.
  LEAHY

  
	
   

  	
   

  	
  John J. Leahy,
  Senior Vice President of Finance and Administration and Chief Financial
  Officer

  
	
   

  	
   

  	
   

  
	
   

  	
  By:
  Keane Delaware Corp., as General Partner

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ JOHN J.
  LEAHY

  
	
   

  	
   

  	
  John J. Leahy,
  Treasurer

  
	
   

  	
   

  	
   

  
	
   

  	
  KEANE
  MASSACHUSETTS LLC

  
	
   

  	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ JOHN J.
  LEAHY

  
	
   

  	
   

  	
  John J. Leahy,
  Treasurer

  
	
   

  	
   

  	
   

  
	
   

  	
  KEANE
  SECURITIES CORPORATION

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ JOHN J.
  LEAHY

  
	
   

  	
   

  	
  John J. Leahy,
  Treasurer

  
	
   

  	
   

  	
   

  

 

 -

 

	
  

  	
  KEANE
  INDIA HOLDINGS, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ JOHN J.
  LEAHY

  
	
   

  	
   

  	
  John J. Leahy,
  Treasurer

  
	
   

  	
   

  	
   

  
	
   

  	
  NETNUMINA
  SOLUTIONS, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ JOHN J.
  LEAHY

  
	
   

  	
   

  	
  John J. Leahy,
  Treasurer

  
	
   

  	
   

  	
   

  
	
   

  	
  KEANE
  CARE, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ JOHN J.
  LEAHY

  
	
   

  	
   

  	
  John J. Leahy,
  Treasurer

  
	
   

  	
   

  	
   

  
	
   

  	
  DATASKILLS,
  INC.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ JOHN J.
  LEAHY

  
	
   

  	
   

  	
  John J. Leahy,
  TreasurerExhibit 10.2

RESIGNATION
AND CONSULTING AGREEMENT

This Resignation Agreement (the “Agreement”) is made
and effective this 10th day of May, 2006 (the “Effective Date”) by and
between Keane, Inc. (the “Company”) and Brian T. Keane (“Mr. Keane”)
(collectively, the “Parties”).

WHEREAS, Mr. Keane
is employed as President and Chief Executive Officer of the Company and serves
as a Director of the Company;

WHEREAS, at the request
of the Board of Directors, Mr. Keane has agreed to resign from his
position as President and Chief Executive Officer and from his position as a
Director with the Company; and

WHEREAS, the Company has
agreed to accept Mr. Keane’s resignation and enter into a consulting
arrangement with Mr. Keane on the terms and subject to the conditions set
forth herein.

NOW THEREFORE, in
consideration for the promises contained herein, the Company and Mr. Keane
agree as follows:

1.             Resignation. The Parties hereby confirm
that Mr. Keane’s resignation as President and Chief Executive
Officer and from all other positions, including any offices, directorships or
employment that he holds with the Company or any affiliates or other related
entities (“Company Affiliates”) (including but not limited to his position as a
Director of the Company) is effective as of May 10, 2006 (the “Resignation
Date”). Said resignations from the Company are hereby accepted by the Company.
Mr. Keane shall not permit himself to be considered for election to the
Board of Directors at any time prior to December 31, 2010 and hereby
withdraws his candidacy for reelection to the Board of Directors at the 2006
Annual Meeting of Shareholders presently scheduled for May 18, 2006. The
Parties agree that they shall publicly announce Mr. Keane’s resignation by
issuing the Press Release attached at Exhibit A.

2.             Service as a Consultant. Mr. Keane shall serve the
Board of Directors of the Company as a consultant from June 1, 2006 to December 31,
2007 (the “Consulting Period”). Mr. Keane’s responsibilities as a
consultant shall be to perform projects and provide advice and assistance
appropriate for an individual of his knowledge and experience at any reasonable
times requested by a majority of the Board of Directors or its designee, provided that the Company shall not
require Mr. Keane to perform such services for a total of more than 150
days. In exchange for his availability for and performance of consulting
services, the Company shall pay Mr. Keane consulting payments on a monthly
basis in arrears at a rate of $26,000 per month effective for the Consulting
Period (the “Consulting Payments”). Mr. Keane shall be an independent
contractor of the Company during the Consulting Period. Notwithstanding the
foregoing, Mr. Keane’s service as a consultant shall not be considered to
be a continuation of a relationship with the Company for purposes of any stock
option or equity plan of the Company, or any Stock Option Agreement or any
Restricted Stock Award Agreement, each as defined below. After January 1,
2007, Mr. Keane may terminate his agreement to provide consulting 

 

services upon 30 days written notice and upon the
effective date of the termination, the Company shall stop making the Consulting
Payments.

3.             Benefits. Mr. Keane shall have
the right to continue to participate in the Company’s group medical and dental
benefit plans to the extent permitted
by and subject to the law known as COBRA. The Company shall pay toward
the premium for such coverages the same amount as it pays toward the premiums
for active eligible employees with the same level of coverages. Mr. Keane
acknowledges and agrees that the remaining portion of the premiums for such
coverages shall be deducted on a monthly basis from the Consulting Payments.

4.             Stock Options. The Parties agree and
acknowledge that the following is an exclusive list of all of the options
to purchase shares of the Company’s common stock awarded to Mr. Keane and
remaining outstanding as of the date hereof: January 18, 2006 (150,000
shares); December 16, 2004 (100,000 shares); February 21, 2003
(200,000 shares), December 4, 2001 (400,000 shares) and December 29,
2000 (200,000 shares), (the “Stock Option Agreements”). The Company and Mr. Keane
agree and acknowledge that their respective rights with respect to these stock
options shall be governed by the terms of the Stock Option Agreements. The
Company hereby acknowledges Mr. Keane’s rights to exercise vested options
will be governed by Section 6(b) of the Incentive Stock Agreement
Granted Under the Company’s 1998 Stock Incentive Plan provided that notwithstanding the provisions
of the Incentive Stock Agreement the Company and Mr. Keane hereby agree (a) that
the period to exercise options which are vested as of the date  hereof shall be extended to December 31,
2006, provided that nothing in this Section 4 is intended to modify in any
way the treatment of such options as a result of an Acquisition Event under the
terms of the applicable stock option or stock incentive plan; and (b) that
the Company will waive any rights that it may have to limit his exercise rights
pursuant to Section 6(d) thereof. For the avoidance of doubt, the
Parties agree that the vesting of stock options under the Stock Option
Agreements ceases effective on the Resignation Date.

5.             Restricted Stock  Awards. The Parties agree and acknowledge that the
following is an exclusive list of all of the restricted stock awards
granted to Mr. Keane and remaining outstanding as of the date hereof: December 16,
2004 (40,000 shares) and January 2, 2002 (3,500 shares) (“Restricted Stock
Award Agreements”). The Company and Mr. Keane agree and acknowledge that
their respective rights with respect to these restricted stock awards shall be
governed by the terms of the Restricted Stock Award Agreements; provided that the Company agrees that it
shall not exercise any Purchase Option as defined in the Restricted Stock Award
Agreements with respect to 10,000 shares of restricted stock that would
otherwise vest on 12/16/06 until after December 31, 2006 and Mr. Keane
understands and agrees that the Company intends to exercise any and all other
Purchase Options. For purposes of clarity, Mr. Keane’s termination of
employment shall not preclude Mr. Keane from vesting in the 10,000 shares
that would otherwise vest on 12/16/06.

6.             Release of Claims. In consideration
for the promises and agreements set forth in this Agreement, Mr. Keane
voluntarily releases and forever discharges the Company, its affiliated and
related entities, its and their respective predecessors, successors and
assigns, its and their respective employee benefit plans and fiduciaries of
such plans, and the current and former 

 

officers, directors, shareholders, employees,
attorneys, accountants and agents of each of the foregoing in their official
and personal capacities (collectively referred to as the “Releasees”) generally
from all claims, demands, debts, damages and liabilities of every name and
nature, known or unknown (“Claims”) that, as of the Effective Date, he has,
ever had, now claims to have or ever claimed to have had against any or all of
the Releasees. This release includes, without limitation, all Claims relating
to Mr. Keane’s employment by and resignation from employment or office
with the Company; of wrongful discharge; of breach of contract; of retaliation
or discrimination under federal, state or local law (including, without
limitation, Claims of disability discrimination or retaliation under the
Americans with Disabilities Act, and Claims of discrimination or retaliation
under Title VII of the
Civil Rights Act of 1964); under any other federal or state statute; of
defamation or other torts; of violation of public policy; for wages, bonuses,
incentive compensation, vacation pay or any other compensation or benefits; and
for damages or other remedies of any sort, including, without limitation,
compensatory damages, punitive damages, injunctive relief and attorney’s fees; provided, however, that this release shall
not affect Mr. Keane’s rights under this Agreement, the Keane, Inc.
1998 Stock Incentive Plan, the Stock Option Agreements, the Restricted Stock
Award Agreements, or the “Agreement” with the Company concerning confidential
information, works for hire, and other matters (the “Confidential Information
Agreement”), nor shall it affect his rights to seek indemnification under Article VI
of the Company’s Restated Articles of Organization. Mr. Keane agrees that
he shall not seek or accept damages of any nature, other equitable or legal
remedies for his own benefit, attorney’s fees, or costs from any of the
Releasees with respect to any Claim released by this Agreement. As a material
inducement to the Company to enter into this Agreement, Mr. Keane
represents that he has not assigned to any third party and he has not filed
with any agency or court any Claim released by this Agreement.

7.             Future
Cooperation. Mr. Keane agrees to cooperate reasonably with the
Company and all Company Affiliates (including the Company’s outside counsel) in
connection with the contemplation, prosecution and defense of all phases of
existing, past and future litigation, regulatory or administrative actions
about which the Company believes Mr. Keane may have knowledge or
information. He further agrees to make himself available at mutually convenient
times during and outside of regular business hours as reasonably deemed
necessary by the Company’s counsel. The Company shall not utilize this Section to
require Mr. Keane to make himself available to an extent that would
unreasonably interfere with employment responsibilities that he may have and
shall reimburse him for any pre-approved reasonable business travel expenses
that he incurs on the Company’s behalf as a result of his litigation
cooperation services, after receipt of appropriate documentation consistent
with the Company’s business expense reimbursement policy. He agrees to appear
without the necessity of a subpoena to testify truthfully in any legal
proceedings in which the Company calls him as a witness. Mr. Keane further
agrees that he shall not voluntarily provide information to or otherwise
cooperate with any individual or entity that is contemplating or pursuing
litigation against any of the Releasees or that is undertaking any
investigation or review of any of the Releasees’ activities or practices; provided, however, that he may participate in or otherwise
assist in any investigation or inquiry conducted by the Equal Employment
Opportunity Commission or the Massachusetts Commission Against Discrimination.

 

8.             Applicable Law. The
law of the Commonwealth of Massachusetts will govern any dispute about this
Agreement, including any interpretation or enforcement of this Agreement.

9.             Severability. In
the event that any provision or portion of a provision of this Agreement shall
be determined to be illegal, invalid or unenforceable, the remainder of this
Agreement shall be enforced to the fullest extent possible and the illegal,
invalid or unenforceable provision or portion of a provision will be amended by
a court of competent jurisdiction to reflect the parties’ intent if possible. If
such amendment is not possible, the illegal, invalid or unenforceable provision
or portion of a provision will be severed from the remainder of this Agreement
and the remainder of this Agreement shall be enforced to the fullest extent
possible  as if such illegal, invalid or
unenforceable provision or portion of a provision was not included.

10.           Modification. This
Agreement may be modified only by a written agreement signed by Mr. Keane
and a representative of the Company specifically authorized by a majority of
the Board of Directors.

11.           Successors and Assigns. This
Agreement shall be binding on the successors and assigns of the Company.

12.           Entire Agreement.
This Agreement constitutes the entire agreement between the parties with
respect to the subject matter hereof and supersedes all prior agreements
between the parties with respect to any related subject matter, except for the
Keane, Inc. 1998 Stock Incentive Plan, Stock Option Agreements, the
Restricted Stock Award Agreements, and the Confidential Information Agreement.

KEANE, INC.

	
  By:

  	
   

  	
  /s/ John J. Leahy

  	
   

  	
  May 10, 2006

  
	
   

  	
   

  	
  Title

  	
   

  	
  Date

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  /s/ Brian T.
  Keane

  	
   

  	
  May 10, 2006

  
	
  Brian T. Keane

  	
   

  	
  Date

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