Document:

EXHIBIT 10.1

 

Extension of Employment Agreement of Richard A. Montoni

 

December 22,
2009

 

Mr. Richard
A. Montoni

Chief
Executive Officer

MAXIMUS, Inc.

11419
Sunset Hills Road

Reston,
Virginia 20190

 

Re:          Extension of Employment Agreement

 

Dear
Rich:

 

You
and MAXIMUS, Inc. (“MAXIMUS”) entered into an Executive Employment,
Non-Compete and Confidentiality Agreement effective April 24, 2006 which
was subsequently amended on November 20, 2007 (the “Employment
Agreement).  The original term of the
Employment Agreement is scheduled to expire on April 24, 2010.  The Compensation Committee of the Board of
Directors of MAXIMUS has authorized the extension of the Employment Agreement
until April 24, 2014.

 

If
you agree to extend the Employment Agreement until April 24, 2014, please
sign where indicated below and return the signed version of the letter to
me.  All other terms and conditions of
the Employment Agreement shall remain unchanged.  Please contact me with any questions.  Thank you.

 

Sincerely.

 

	
  /s/
  David R. Francis

  	
   

  
	
   

  	
   

  
	
  David
  R. Francis

  	
   

  
	
  General
  Counsel

  	
   

  

 

AGREED:

 

 

	
  /s/
  Richard A. Montoni

  	
   

  
	
  Richard
  A. Montoni

  	
   

  

 

 

	
  December 22,
  2009

  	
   

  
	
  DateExhibit
10.1

 

SECOND AMENDMENT TO CREDIT
AGREEMENT

 

This Second Amendment to
Credit Agreement (this “Second Amendment”) is made as of this 29th day of January,
2010 by and among:

 

TUESDAY
MORNING, INC., a Texas corporation, for itself and as agent (in such capacity,
the “Lead Borrower”) for the other Borrowers party hereto;

 

the
BORROWERS party hereto;

 

the
GUARANTORS party hereto;

 

the
LENDERS party hereto; and

 

BANK OF AMERICA, N.A., as
Administrative Agent, Collateral Agent, Swing Line Lender and L/C Issuer;

 

in
consideration of the mutual covenants herein contained and benefits to be
derived herefrom.

 

W I T N E S S E T H:

 

WHEREAS, reference is
made to that certain Credit Agreement, dated as of December 15, 2008 (as
amended, amended and restated, modified, supplemented or restated and in effect
from time to time, the “Credit Agreement”), by and among (i) the
Borrowers, (ii) the Guarantors, (iii) the Lenders party thereto (the “Lenders”),
and (iv) Bank of America, N.A., as Administrative Agent, Collateral Agent,
Swing Line Lender and L/C Issuer;

 

WHEREAS, pursuant to Section 2.05(d) of
the Credit Agreement, the Borrowers are required to pay to the Administrative
Agent, on the first day of each Clean-down Period, an amount equal to the
amount by which (A) the aggregate
principal amount of all Committed Loans, L/C Borrowings and Swing Line Loans
outstanding on such day exceeds (B) $45,000,000 and are not
thereafter permitted to request Committed Loans and/or Swing Line Loans if such
request would cause the aggregate
principal amount of all Committed Loans, L/C Borrowings and Swing Line Loans to
exceed $45,000,000 at any time during such Clean-down Period; and

 

WHEREAS, the Borrowers
have requested, and the Administrative Agent and the Lenders have agreed, to amend
Section 2.05(d) of the Credit Agreement on the terms and conditions
set forth herein.

 

NOW, THEREFORE, it is
hereby agreed as follows:

 

1.                                       Definitions. 
All capitalized terms used herein and not otherwise defined shall have
the same meaning herein as in the Credit Agreement.

 

2.                                       Amendment to Article II of Credit
Agreement.  Section 2.05(d) of
the Credit Agreement is
hereby deleted in its entirety and the following substituted in its stead:

 

1

 

“(d)         The Borrowers shall pay to the Administrative Agent, on the
first day of each Clean-down Period (commencing with the Clean-down Period
beginning on December 28, 2010), an amount equal to the amount by which (A) the aggregate principal amount of all
Committed Loans, L/C Borrowings and Swing Line Loans outstanding on such day exceeds
(B) $65,000,000 and shall not thereafter request Committed Loans and/or
Swing Line Loans hereunder if such request would cause the aggregate principal amount of all Committed
Loans, L/C Borrowings and Swing Line Loans to exceed $65,000,000 at any
time during such Clean-down Period.”

 

3.                                       Ratification of Loan Documents. 
Except as otherwise expressly provided herein, all terms and conditions
of the Credit Agreement and the other Loan Documents remain in full force and
effect.  The Loan Parties hereby ratify,
confirm, and reaffirm that all representations and warranties of the Loan
Parties contained in the Credit Agreement or any other Loan Document are true
and correct in all material respects on and as of the date hereof, except to
the extent that such representations and warranties specifically refer to an
earlier date, in which case they are true and correct in all material respects
as of such earlier date.

 

4.                                       Conditions to Effectiveness. 
This Second Amendment shall not be effective until each of the following
conditions precedent has been fulfilled to the reasonable satisfaction of the
Administrative Agent:

 

(a)                                  The Administrative Agent shall have
received counterparts of this Second Amendment duly executed and delivered by
each of the parties hereto.

 

(b)                                 All corporate and shareholder action on
the part of the Loan Parties necessary for the valid execution, delivery and
performance by the Loan Parties of this Second Amendment shall have been duly
and effectively taken and evidence thereof reasonably satisfactory to the
Administrative Agent shall have been provided to the Administrative Agent.

 

(c)                                  The Loan Parties shall have paid to the
Administrative Agent, for the account of each Lender signing this Second
Amendment, an amendment fee (the “Amendment Fee”) in the amount set
forth on Schedule I hereto.  The
Amendment Fee shall be fully earned and paid by the Loan Parties to the
Administrative Agent in full on the effective date of this Second
Amendment.  The Amendment Fee shall not
be subject to refund or rebate under any circumstances.

 

(d)                                 The Loan Parties shall have paid in full
all reasonable and documented costs and expenses of the Agents (including,
without limitation, reasonable attorneys’ fees) in connection with the
preparation, negotiation, execution and delivery of this Second Amendment and
related documents.

 

2

 

(e)                                  After giving effect to this Second
Amendment, no Default or Event of Default shall have occurred and be
continuing.

 

5.                                       Miscellaneous.

 

(a)                                  This Second Amendment may be executed in
several counterparts and by each party on a separate counterpart, each of which
when so executed and delivered shall be an original, and all of which together
shall constitute one instrument. 
Delivery of an executed counterpart of a signature page to this
Second Amendment by telecopy or other electronic transmission shall be
effective as delivery of a manually executed counterpart of this Second
Amendment.

 

(b)                                 This Second Amendment expresses the
entire understanding of the parties with respect to the transactions
contemplated hereby.  No prior
negotiations or discussions shall limit, modify, or otherwise affect the
provisions hereof.

 

(c)                                  Any determination that any provision of
this Second Amendment or any application hereof is invalid, illegal or
unenforceable in any respect and in any instance shall not effect the validity,
legality, or enforceability of such provision in any other instance, or the
validity, legality or enforceability of any other provisions of this Second
Amendment.

 

(d)                                 The Loan Parties represent and warrant
that they have consulted with independent legal counsel of their selection in
connection with this Second Amendment and are not relying on any
representations or warranties of the Agents or the Lenders or their counsel in
entering into this Second Amendment.

 

[SIGNATURE PAGES FOLLOW]

 

3

 

IN WITNESS WHEREOF, the
parties have hereunto caused this Second Amendment to be executed and their
seals to be hereto affixed as of the date first above written.

 

	
   

  	
  TUESDAY MORNING, INC., as Lead Borrower and as a Borrower

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Stephanie Bowman

  
	
   

  	
  Name:

  	
  Stephanie Bowman

  
	
   

  	
  Title:

  	
  Executive Vice President, Chief Financial Officer and Secretary

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  TUESDAY MORNING PARTNERS, LTD., as a Borrower

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Days of the Week, Inc., its General Partner

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Stephanie Bowman

  
	
   

  	
  Name:

  	
  Stephanie Bowman

  
	
   

  	
  Title:

  	
  Executive Vice President, Chief Financial Officer and Secretary

  
	
   

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  TUESDAY MORNING CORPORATION, as a Guarantor

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Stephanie Bowman

  
	
   

  	
  Name:

  	
  Stephanie Bowman

  
	
   

  	
  Title:

  	
  Executive Vice President, Chief Financial Officer, Secretary and
  Treasurer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  TMI HOLDINGS, INC., as a Guarantor

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Stephanie Bowman

  
	
   

  	
  Name:

  	
  Stephanie Bowman

  
	
   

  	
  Title:

  	
  Vice President, Secretary and Treasurer

  

 

S-1

 

	
   

  	
  FRIDAY MORNING, INC., as a Guarantor

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Stephanie Bowman

  
	
   

  	
  Name:

  	
  Stephanie Bowman

  
	
   

  	
  Title:

  	
  Executive Vice President, Chief Financial Officer and Secretary

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  DAYS OF THE WEEK, INC., as a Guarantor

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Stephanie Bowman

  
	
   

  	
  Name:

  	
  Stephanie Bowman

  
	
   

  	
  Title:

  	
  Executive Vice President, Chief Financial Officer and Secretary

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  NIGHTS OF THE WEEK, INC., as a Guarantor

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Stephanie Bowman

  
	
   

  	
  Name:

  	
  Stephanie Bowman

  
	
   

  	
  Title:

  	
  Vice President, Secretary and Treasurer

  

 

S-2

 

	
   

  	
  BANK OF AMERICA, N.A., as Administrative Agent, Collateral Agent, L/C
  Issuer and Swingline Lender and as a Lender

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Roger Malouf

  
	
   

  	
  Name:

  	
  /s/ Roger Malouf

  
	
   

  	
  Title:

  	
  Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  WELLS FARGO RETAIL FINANCE, LLC, as Joint Lead Arranger, Joint
  Bookrunner and Syndication Agent and as a Lender

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Jason B. Searle

  
	
   

  	
  Name:

  	
  /s/ Jason B. Searle

  
	
   

  	
  Title:

  	
  Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  REGIONS BANK, as a Lender

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Kevin R. Rogers

  
	
   

  	
  Name:

  	
  /s/ Kevin R. Rogers

  
	
   

  	
  Title:

  	
  Attorney-in-Fact

  

 

S-3

 

Schedule
I

 

	
  Lender

  	
   

  	
  Amendment Fee

  	
   

  
	
  Bank of America, N.A.

  	
   

  	
  $

  	
  75,000

  	
   

  
	
  Wells Fargo Retail
  Finance, LLC

  	
   

  	
  $

  	
  75,000

  	
   

  
	
  Regions Bank

  	
   

  	
  $

  	
  30,000

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