Document:

Waiver and Fourth Amendment to Credit Agreement

 Exhibit 10.1 
 WAIVER AND FOURTH AMENDMENT TO 
 CREDIT AGREEMENT 
 This WAIVER AND FOURTH AMENDMENT TO CREDIT AGREEMENT (“Amendment”) is entered into as of December 10, 2007, among Planar Systems,
Inc., an Oregon corporation (the “Borrower”), each lender from time to time party hereto (collectively, the “Lenders” and individually, a “Lender”), and BANK OF AMERICA, N.A., as Agent.

 RECITALS 
 A. Borrower,
Agent and Lender are parties to that certain Credit Agreement entered into as of December 16, 2003, as amended by a First Amendment to Credit Agreement entered into as of December 21, 2004, a Second Amendment to Credit Agreement entered
into as of October 21, 2005, and a Third Amendment to Credit Agreement dated as of May 23, 2007 (the “Credit Agreement”). Bank of America, N.A. is the sole Lender as of the date of this Waiver and Amendment. 
 B. An Event of Default has occurred in that as of September 28, 2007, the end of Borrower’s fiscal year, Borrower was not in compliance with
Section 6.12(d) of the Credit Agreement relating to the required EBITDA. 
 C. Borrower has requested that Agent and Lender waive such
Event of Default and agree to amend the Credit Agreement as set forth herein. Borrower, Agent and Lender have agreed to do so. 
 NOW
THEREFORE, the parties agree as follows: 
 AGREEMENT 
 1. Recitals. The Recitals are true. 
 2. Definitions. Capitalized terms used herein and not
otherwise defined shall have the meaning given in the Credit Agreement. 
 3. Waiver. The Event of Default described in Recital B
above is waived, 
 4. Amendment to the Definition of “Applicable Rate” in Section 1.01 of the Credit Agreement. The
definition of “Applicable Rate” in Section 1.01 of the Credit Agreement is amended in its entirety to read: 
 “Applicable Rate” means from time to time the following percentages per annum, based upon the Fixed Charge Coverage Ratio as set forth in the most recent Compliance Certificate received by Agent pursuant to
Section 6.02(a): 
  

															
	 Pricing
Level
	  	Fixed Charge Coverage
Ratio	  	Commitment Fee	 	 	Eurodollar Rate	 	 	Letters of Credit	 	 	Base Rate	 
	 1
	  	< 1.0:1.0	  	0.35	%	 	2.75	%	 	2.75	%	 	+.50	%
	 2
	  	3 1.0:1.0	  	0.30	%	 	2.00	%	 	2.00	%	 	0	%

  

 Page 1 – WAIVER AND FOURTH AMENDMENT TO CREDIT AGREEMENT 

 Any increase or decrease in the Applicable Rate resulting from a change in the Fixed Charge Coverage
Ratio shall become effective commencing on the first Business Day of the month following the date a Compliance Certificate is delivered pursuant to Section 6.02(a); provided, however, that if no Compliance Certificate is
delivered when due in accordance with such Section, then Pricing Level 1 shall apply as of the first Business Day of the month following the date such Compliance Certificate was required to have been delivered and shall continue in effect until the
first Business Day of the month following the date such Compliance Certificate is in fact delivered. Pricing Level 1 shall apply through the 1st Business Day of the month following the date a Compliance Certificate is delivered after
December 28, 2007. 
 5. Amendment to the Definition of “Fixed Charge Coverage Ratio” in Section 1.01 of the Credit
Agreement. The definition of “Fixed Charge Coverage Ratio” in Section 1.01 of the Credit Agreement is amended in its entirety to read: 
 “Fixed Charge Coverage Ratio” means, as of any date of determination, the ratio of (a) EBITDA for the period of one, two, three or four prior fiscal quarters most recently ended for which
Borrower has delivered financial statements pursuant to Section 6.01(a) or (c), minus (i) taxes paid in cash during such period, plus (ii) (A) for the fiscal quarter ending December 28, 2007, integration costs
not to exceed $900,000, (B) for the two fiscal quarter period ending March 28, 2008, integration costs not to exceed $1,250,000, (C) for the three fiscal quarter period ending June 27, 2008, integration costs not to exceed
$1,600,000 and (D) for the four fiscal quarter period ending September 26, 2008, integration costs not to exceed $1,900,000, to (b) the sum of (i) interest charges actually paid in cash during such period plus (ii) principal
payments scheduled to have been paid during such period on Funded Debt (not including payments required by Section 2.05(b)), plus (iii) cash payments required to be made during such period on any Swap Contract, reduced by cash receipts
during such period from any Swap Contract, plus (iv) cash expenditures for fixed assets net of disposition of fixed assets. 
  

 Page 2 – WAIVER AND FOURTH AMENDMENT TO CREDIT AGREEMENT 

 6. Amendment to Section 6.12(c) of the Credit Agreement. Section 6.12(c) of the Credit
Agreement is amended in its entirety to read: 
 (c) Fixed Charge Coverage Ratio. Maintain on a consolidated basis a Fixed Charge
Coverage Ratio of at least 0.55:1.0 for the fiscal quarter ending December 28, 2007, and at least 0.73:1.0 for the two fiscal quarter period ending March 28, 2008, and at least 1.0:1.0 for the three fiscal quarter period ending
June 27, 2008, and at least 1.15:1.0 for the four fiscal quarter period ending September 26, 2008. 
 7. Deletion of
Section 6.12(d) of the Credit Agreement. Section 6.12(d) of the Credit Agreement relating to minimum EBITDA is deleted in its entirety. 
 8. Amendment to Section 6 of the Credit Agreement. Section 6 of the Credit Agreement is amended by adding the following section thereto: 
 6.17 Consultant. Prior to January 14, 2008 Borrower shall employ a business consultant acceptable to Agent to study Borrower’s business
plans and make recommendations to Borrower and Agent concerning Borrower’s operations. An executed contract to engage such consultant shall be delivered to Agent prior to January 14, 2008. Borrower’s failure to engage such consultant
and provide a copy of the executed contract to Agent by such date shall be an Event of Default, in addition to the Events of Default described in Section 8.01. 
 9. Deletion of Certain Sections of Article VII. The following Sections contained in Article VII of the Credit Agreement are deleted: 

Section 7.03(f) relating to permitted indebtedness. 
 Section 7.05(g) relation to permitted dispositions. 
 Section 7.06(c) relating to permitted
Restricted Payments 
 10. Amendment to Section 7.01(i) of the Credit Agreement. Section 7.01(i) of the Credit Agreement is
amended in its entirety to read: 
 (i) Liens securing Indebtedness permitted under Section 7.03(e); provided that
(i) such Liens do not at any time encumber any property other than the property financed by such Indebtedness, (ii) the Indebtedness secured thereby does not exceed the cost or fair market value, whichever is lower, of the property being
acquired on the date of acquisition, and (iii) no more than $500,000 of such secured indebtedness may be incurred in any one fiscal year; and 
  

 Page 3 – WAIVER AND FOURTH AMENDMENT TO CREDIT AGREEMENT 

 11. Amendment to Section 7.11 of the Credit Agreement. Section 7.11 of the Credit
Agreement is amended in its entirety to read: 
 7.11 Capital Expenditures. Spend or incur obligations to acquire fixed assets for more
than $3,000,000 on a consolidated basis during the fiscal quarter ending December 28, 2007 or spend or incur obligations to acquire fixed assets for more than $4,000,000 on a consolidated basis during the two fiscal quarter period ending
March 28, 2008, or spend or incur obligations to acquire fixed assets for more than $5,500,000 on a consolidated basis during the three fiscal quarter period ending June 27, 2008, or spend or incur obligations to acquire fixed assets for
more than $7,500,000 on a consolidated basis during the four fiscal quarter period ending September 26, 2008. This restriction shall not apply to expenditures which are financed by a purchase money security interest or Lien (including financing
leases) permitted under Section 7.01(i). 
 12. Amendment to Schedule 2.01 of the Credit Agreement.
Schedule 2.01 of the Credit Agreement is replaced in its entirety by Schedule 2.01 attached hereto. 
 13. Fees. Borrower
shall pay Bank of America as Lender a fee for this Amendment, in the amount of $50,000 payable on execution of this Amendment. In addition, Borrower shall pay Bank of America a one-time fee of $150,000 on first day hereafter that the Total
Outstandings exceed $30,000,000. 
 14. Release. Borrower hereby releases Agent, Lenders and their officers, agents, successors and
assigns from all claims of every nature known or unknown arising out of or related to the Loans which exist, or but for the passage of time, could be asserted, on the date Borrower signs this Amendment. 
 15. No Further Amendment, Expenses. Except as expressly modified by this Amendment, the Credit Agreement and other Loan Documents shall remain
unmodified in full force and effect and the parties hereto ratify their respective obligations thereunder. Without limiting the foregoing, Borrower expressly reaffirms and ratifies its obligation to pay or reimburse Agent or Lenders in connection
with the preparation of this Amendment, any other amendment documents and the closing of the transaction contemplated hereby. 
 16.
Effective Date. The foregoing provisions are effective on execution and delivery hereof. 
 17. Miscellaneous. 
 (a) Counterparts. This Amendment may be executed in any number of counterparts and by different parties hereto in separate
counterparts, each of which when so executed shall be deemed to be an original, and all of which taken together shall constitute one and the same Amendment, it being understood that the Agent may rely on a facsimile counterpart signature page hereof
for purpose of determining whether a party hereto has executed a counterpart hereof. 
  

 Page 4 – WAIVER AND FOURTH AMENDMENT TO CREDIT AGREEMENT 

 (b) Governing Law. This Amendment and the other agreements provided for herein and
the rights and obligations of the parties hereto and thereto shall be construed and interpreted in accordance with the laws of the State of Oregon. 
 (c) Certain Agreements Not Enforceable. UNDER OREGON LAW, MOST AGREEMENTS, PROMISES AND COMMITMENTS MADE BY THE LENDERS CONCERNING LOANS AND OTHER CREDIT EXTENSIONS WHICH ARE NOT FOR PERSONAL, FAMILY OR
HOUSEHOLD PURPOSES OR SECURED SOLELY BY THE BORROWER’S RESIDENCE MUST BE IN WRITING, EXPRESS CONSIDERATION, AND BE SIGNED BY THE LENDERS TO BE ENFORCEABLE. 
 EXECUTED AND DELIVERED by the duly authorized officers of the parties as of the date first above written. 
  

									
	BORROWER:	 		 	PLANAR SYSTEMS, INC.
					
		 		 		 	By:	 	/s/ Gerald Perkel
					
		 		 		 	Name:	 	Gerald Perkel
					
		 		 		 	Title:	 	President
			
	LENDERS:	 		 	BANK OF AMERICA, N.A., as a Lender
					
		 		 		 	By:	 	/s/ Eric Eidler
					
		 		 		 	Name:	 	Eric Eidler
					
		 		 		 	Title:	 	Senior Vice President
			
	AGENT:	 		 	BANK OF AMERICA, N.A., as Agent
					
		 		 		 	By:	 	/s/ Eric Eidler
					
		 		 		 	Name:	 	Eric Eidler
					
		 		 		 	Title:	 	Senior Vice President

  

 Page 5 – WAIVER AND FOURTH AMENDMENT TO CREDIT AGREEMENT 

 The following Guarantors which have guaranteed the obligations of Borrower to Lenders hereby consent to
the foregoing Amendment, and reaffirm the Guaranties. 
  

									
	GUARANTORS:	 		 	DOME IMAGING SYSTEMS, INC., a Delaware corporation
					
		 		 		 	By:	 	/s/ Gerald Perkel
		 		 		 	Its:	 	President
			
		 		 	PLANAR CHINA, LLC, an Oregon limited liability company
					
		 		 		 	By:	 	/s/ Gerald Perkel
		 		 		 	Its:	 	President
			
		 		 	PLANAR TAIWAN, LLC, an Oregon limited liability company
					
		 		 		 	By:	 	/s/ Gerald Perkel
		 		 		 	Its:	 	President
			
		 		 	CLARITY, A DIVISION OF PLANAR SYSTEMS, INC., an Oregon corporation
					
		 		 		 	By:	 	/s/ Gerald Perkel
		 		 		 	Its:	 	President
			
		 		 	RUNCO INTERNATIONAL, LLC, an Oregon limited liability company, formerly known as Runco International Inc.
					
		 		 		 	By:	 	/s/ Gerald Perkel
		 		 		 	Its:	 	President

  

 Page 6 – WAIVER AND FOURTH AMENDMENT TO CREDIT AGREEMENT 

 SCHEDULE 2.01 
 Commitments of Bank of America, N.A. which holds 100% of the Pro Rata Shares: 
  

				
	 Period
	  	Total Commitment
	 From execution of this Amendment through March 31, 2008
	  	$	32,500,000
	 From April 1, 2008 through June 30, 2008
	  	$	30,000,000
	 From July 1, 2008 through September 30, 2008
	  	$	27,500,000
	 From October 1, 2008 through November 30, 2008
	  	$	25,000,000
	 After November 30, 2008
	  	 	0

  

 Page 7 – WAIVER AND FOURTH AMENDMENT TO CREDIT AGREEMENTRestricted Stock Award Agreement under 2004 Rayovac Incentive Plan

 Exhibit 10.29 
  
 FORM OF SPECTRUM BRANDS, INC. 
 RESTRICTED STOCK AWARD AGREEMENT 
 FOR EMPLOYEES 
  
 This agreement is made and entered into, effective as of
            (the “Effective Date”), by and between Spectrum Brands, Inc., a Wisconsin corporation (the “Company”), and
            (the “Employee”) pursuant to The 2004 Rayovac Incentive Plan (the “Plan”) and the terms and conditions of this Spectrum Brands, Inc. Restricted Stock Award
Agreement (the “Agreement”) as set forth below. 
  
 1.
Grant of Award. Pursuant to the Plan and subject to the terms and conditions of this Agreement and the Plan, the Company hereby grants to the Employee an award (the “Award”) of
            shares of the Company’s common stock, par value $.01 per share (“Common Stock”), subject to certain performance-based restrictions (individually, a
“Share” and collectively, the “Shares”). The Employee acknowledges that he/she has received from the Company a copy of the Plan and any prospectus relating thereto. 
  
 2. Restrictions. Until the restrictions set forth in this Agreement or in the Plan lapse, the Shares shall be subject
to the following restrictions: 
  
 (a) Continued
Employment. Except as otherwise specifically provided herein, the Employee’s rights under this Agreement are conditioned on the Employee remaining in the employment of the Company or its subsidiaries or affiliates. The term
“disability” shall have the same meaning as set forth in the Company’s disability policy. The term “Cause” shall have the same meaning as forth in the employment agreement or severance agreement, as applicable and as the
same may be amended from time to time, between the Employee and the Company or any subsidiary of the Company, as applicable. 
  
 (b) Transfer. The Shares may not be sold, assigned, transferred, exchanged, pledged, hypothecated or otherwise encumbered in any manner by the
Employee. 
  
 3. Lapse of Restrictions. 
  
 (a) General. Subject to the terms of this Agreement [INSERT VESTING
SCHEDULE] 
  
 (b) Forfeiture of Shares. Notwithstanding
anything contained herein to the contrary upon the Employee’s termination of employment with the Company or any of its subsidiaries and affiliates for any reason other than termination by the Company without Cause or by reason of
Employee’s death or disability, the Employee shall forfeit all Shares subject to restrictions that have not lapsed as of such termination date, and the Employee shall have no further rights with respect to those Shares. In the event of
termination by the Company without Cause or due to death or disability of Employee, Employee (or his/her heir or legal representative) shall continue to have the rights granted under this Agreement pursuant to the terms of this Agreement. Shares
granted hereunder whose restrictions have lapsed prior to such Executive termination shall not be forfeited. 
  
 (c) Termination of Restrictions. Notwithstanding the foregoing, the Compensation Committee of the Board shall have the power, in its sole
discretion, to accelerate the expiration of the applicable restriction period, to waive any restriction with respect to any part or all of the Shares or to waive the forfeiture of Shares and retain restrictions on Shares that would have been
forfeited pursuant to the terms of this Agreement. 
  
 4.
Certificates. While the Shares awarded to the Employee are subject to the restrictions set forth in the Plan and in this Agreement, the Employee’s rights to those Shares will be reflected as a book entry in the records of the Company.
After and to the extent that such restrictions lapse pursuant to the terms of the Plan and this Agreement, certificates representing the Shares owned by the Employee, after taking into account any Shares withheld to cover the taxes with respect to
the lapsing of the restrictions on those Shares, will be delivered to the Employee as soon as practicable after the Employee requests that the Company or its agent deliver the certificates or, if earlier, when the certificates are delivered to the
Employee as determined by the Company or its agent. 

 5. Change in Control. As more particularly provided in the Plan, all restrictions with respect to
any of the Shares that have not been previously forfeited as provided in this Agreement shall expire and lapse upon the occurrence of a Change in Control (as defined in the Plan). If a Change in Control has occurred, all restrictions on the Shares
shall expire immediately before the effective date of the Change in Control. 
  
 6. Incorporation of Plan; Defined Terms. The Plan is incorporated herein by reference and made a part of this Agreement as if each provision of the Plan were specifically set forth herein. In the event of a
conflict between the Plan and this Agreement, the terms and conditions of the Plan shall govern. Unless otherwise expressly defined in this Agreement, all capitalized terms in this Agreement shall have the meanings given such terms in the Plan.

  
 7. Miscellaneous. 
  
 (a) Successors; Governing Law. This Agreement shall bind and inure to
the benefit of the parties, their heirs, personal representatives, successors in interest and assigns. This Agreement shall be governed by and construed in accordance with the laws of the State of Wisconsin. 
  
 (b) Dividends. The Company shall have the discretion to pay to the
Employee any special or regular cash dividends declared by the Board, or to defer the payment of cash dividends until the expiration of the restrictions with respect to the Shares, or reinvest such amounts in additional shares of restricted stock.
Any cash payments of dividends that become payable to the Employee with respect to any of the Shares that remain subject to restrictions hereunder may, in the Company’s discretion, be net of an amount sufficient to satisfy any federal, state
and local withholding tax requirements with respect to such dividends. 
  
 (c) Continued Employment. The Agreement does not constitute a contract of employment. Participation in the Plan does not give the Employee the right to remain in the employ of the Company or its subsidiaries or affiliates and does
not limit in any way the right of the Company or a subsidiary or affiliate to change the duties or responsibilities of the Employee. 
  
 (d) Amendment. The Company may amend this Agreement or modify the provisions for the termination of the restrictions on the Shares without the
approval of the Employee to comply with any rules or regulations under applicable tax, securities or other laws or the rules and regulations thereunder or any applicable exchange listing standards, or to correct any omission in this Agreement.

  
 (e) Payment of Taxes Due. No later than the date as of
which an amount first becomes includible in the gross income of the Employee for income tax purposes with respect to the Award, Employee shall pay to the Company, or make arrangements satisfactory to the Company regarding the payment of, any
Federal, state, local or foreign taxes of any kind required by law or applicable regulation to be withheld (collectively, “Taxes”) with respect to such amount. Withholding obligations arising from the Award may be settled with Common
Stock, including the Shares that give rise to the withholding requirement. The obligations of the Company to deliver the Shares shall be conditional on such payment or arrangements. The Company, its subsidiaries and its affiliates shall, to the
extent permitted by law, have the right to, at the Company’s election and in the Company’s sole discretion, (i) deduct any such taxes from any payment otherwise due to the Employee or (ii) withhold such portion of the Shares that
give rise to the withholding requirement in satisfaction of such requirement. 
  
 SPECTRUM BRANDS, INC. 
  
 By: 
  
 John T. Wilson 
 General Counsel 
  
 Accepted and agreed to this [DATE]. 
 [EMPLOYEE NAME] 
  

  
                         , individually 
  

 2

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