Document:

EX-10.2 First Amendment to Stock Purchase Agreemen

 

Exhibit 10.2

FIRST AMENDMENT

TO

STOCK PURCHASE AGREEMENT

     THIS FIRST AMENDMENT TO STOCK PURCHASE AGREEMENT (this “Amendment”), dated as of
January 31, 2008, is made by and between clickNsettle.com, Inc., a Delaware corporation (the
“Company”), and the Investors listed on Exhibit A hereto (each, an
“Investor” and collectively, the “Investors”).

RECITALS

     A. The Company and the Investors (collectively the “Parties”) entered into that certain Stock
Purchase Agreement dated as of December 19, 2007 (the “Agreement”).

     B. The Parties desire to amend the Agreement, in the manner and on the terms and conditions
hereinafter set forth.

     C. Capitalized terms that are not defined in this Amendment have the meanings ascribed to them
in the Agreement. Except as explicitly amended and set forth in this Amendment, all other terms and
provisions of the Agreement remain applicable, operative and unchanged.

AGREEMENTS

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

ARTICLE 1 — AMENDMENTS

     1.1 Section 7.1(b)(iii) of the Agreement shall be amended by the deletion of the
reference therein to “December 31, 2007” and the insertion in lieu thereof of “January 31, 2008.”

ARTICLE 2 — MISCELLANEOUS

     2.1 Waivers and Amendments. The Agreement and this Amendment may be further amended
or modified in whole or in part only by a writing which makes reference to the Agreement and this
Amendment executed by the Investors and the Company. The obligations of any party hereunder may be
waived (either generally or in a particular instance and either retroactively or prospectively)
only with the written consent of the party claimed to have given the waiver; provided, however,
that any waiver by any party of any violation of, breach of, or default under any provision of this
Amendment or any other agreement provided for herein shall not be construed as, or constitute, a
continuing waiver of such provision, or waiver of any other violation of, breach of or default
under any other provision of this Amendment or any other agreement provided for herein.

     2.2 Entire Agreement. The Agreement (together with the Schedules and the Exhibits
thereto) and the other agreements and instruments expressly provided for herein, together with this
Amendment (together with the Exhibits hereto), set forth the entire understanding of the parties
hereto and supersede in their entirety all prior contracts, agreements, arrangements,
communications, discussions,
representations, and warranties, whether oral or written, among the parties with respect to
the subject matter hereof.

 

 

     2.3 Governing Law. The Agreement and this Amendment shall in all respects be governed
by and construed in accordance with the internal substantive laws of the State of Delaware without
giving effect to the principles of conflicts of law thereof.

     2.4 Public Announcements. The parties shall consult with each other before issuing,
and provide each other a reasonable opportunity to review and comment upon, any press release or
public statement with respect to the Agreement and this Amendment and the transactions contemplated
thereby and, except as may be required by applicable law, will not issue any such press release or
make any such public statement prior to such consultation.

     2.5 Counterparts; Facsimile Signatures. This Amendment may be executed in any number
of counterparts, each of which shall be deemed to be an original, and all of which together will
constitute one and the same instrument. Any facsimile copy of this Amendment will be deemed an
original for all purposes.

     2.6 Successors and Assigns. This Amendment shall be binding upon and shall inure to
the benefit of the parties hereto and their respective successors and permitted assigns, except
that the Company may not assign or transfer its rights hereunder without the prior written consent
of the Investors.

     2.7 Third Parties. Nothing expressed or implied in the Agreement or this Amendment is
intended, or shall be construed, to confer upon or give any Person other than the parties hereto
and their successors and assigns any rights or remedies under or by reason of the Agreement or this
Amendment.

     2.8 Schedules. Exhibit A attached to this Amendment is incorporated herein
and shall be part of this Amendment for all purposes.

     2.9 Headings. The headings in this Amendment are solely for convenience of reference
and shall not be given any effect in the construction or interpretation of this Amendment.

     2.10 Interpretation. Whenever the context may require, any pronoun used herein shall
include the corresponding masculine, feminine or neuter forms, and the singular form of nouns,
pronouns and verbs shall include the plural and vice versa.

[Signature Page Follows]

 

 

SIGNATURE PAGES TO

FIRST AMENDMENT TO STOCK PURCHASE AGREEMENT

BY AND AMONG

CLICKNSETTLE.COM, INC. AND THE INVESTORS

     IN WITNESS WHEREOF, the Company and each of the Investors have executed this Agreement as of
the date first above written.

	 	 	 	 	 
	 	THE COMPANY:

clickNsettle.com, Inc.,

a Delaware corporation

 	 
	 	By:  	/s/ Glenn L. Halpryn
 	 
	 	 	Name:  	Glenn L. Halpryn 	 
	 	 	Title:  	Chairman and President 	 
	 
	 	THE INVESTORS:

Frost Gamma Investments Trust

 	 
	 	By:  	/s/ Phillip Frost
 	 
	 	 	 	 
	 	 	 	 
	 
	 	 	 
	 	                                                     /s/ Dr. Jane Hsiao
 	 
	 	Dr. Jane Hsiao 	 
	 	 	 
	 
	 	 	 
	 	                                                     /s/ Steven D. Rubin
 	 
	 	Steven D. Rubin 	 
	 	 	 
	 
	 	 	 
	 	                                                     /s/ Subbarao Uppaluri
 	 
	 	Subbarao Uppaluri 	 
	 	 	 
	 

 

 

EXHIBIT A

SCHEDULE OF INVESTORS

	 	 	 	 	 	 	 	 
	 
	 	Name, Address and	 	 	Percentage of	 
	 	State of Residence	 	 	Shares Purchased	 
	 	Frost Gamma Investments Trust

4400 Biscayne Boulevard

Suite 1500

Miami, Florida 33137

	 	 	 	80	%	 
	 	Dr. Jane Hsiao

4400 Biscayne Boulevard

Suite 1500

Miami, Florida 33137

	 	 	 	18	%	 
	 	Steven D. Rubin

4400 Biscayne Boulevard

Suite 1500

Miami, Florida 33137

	 	 	 	1	%	 
	 	Subbarao Uppaluri

4400 Biscayne Boulevard

Suite 1500

Miami, Florida 33137

	 	 	 	1	%	 
	 

A-1EX-10.1 2ND AMENDED/RESTATED CREDIT & SEC. AGRMT

 

Exhibit 10.1

THIRD AMENDMENT TO AMENDED AND RESTATED CREDIT AND SECURITY AGREEMENT

          THIS AMENDMENT (this “Amendment") is entered into as of November 16, 2007, by and among:

     (a) Rock-Tenn Financial, Inc., a Delaware corporation (“Borrower"),

     (b) Rock-Tenn Converting Company, a Georgia corporation (“Converting"), as
initial Servicer (the Servicer together with Borrower, the “Loan Parties” and each,
a “Loan Party"),

     (c) Variable Funding Capital Company LLC, a Delaware limited liability company,
as assignee of Blue Ridge Asset Funding Corporation (“VFCC” or a “Conduit"), and
Wachovia Bank, National Association, in its capacity as liquidity provider to VFCC
(together with its successor, “Wachovia” and together with VFCC, the “VFCC Group” or
a “Conduit Group"),

     (d) Three Pillars Funding LLC, a Delaware limited liability company (“TPF” or a
“Conduit"), and SunTrust Bank, in its capacity as liquidity provider to TPF
(together with its successor, “SunTrust” and together with TPF, the “TPF Group” or a
“Conduit Group"),

     (e) Wachovia Bank, National Association, in its capacity as agent for the VFCC
Group (together with its successors and assigns in such capacity, the “VFCC Agent”
or a “Co-Agent"), and SunTrust Robinson Humphrey, Inc. (f/k/a SunTrust Capital
Markets, Inc.), in its capacity as agent for the TPF Group (together with its
successors and assigns in such capacity, the “TPF Agent” or a “Co-Agent"), and

     (f) Wachovia Bank, National Association, in it capacity as administrative agent
for the Lenders hereunder or any successor administrative agent hereunder (together
with its successors and assigns hereunder, the “Administrative Agent” and together
with the Co-Agents, the “Agents"),

with respect to that certain Amended and Restated Credit and Security Agreement dated as of
September 30, 2005, by and among the parties, as amended (the “Existing Agreement"). The Existing
Agreement as amended hereby is sometimes hereinafter referred to as the “Agreement.”

          Unless otherwise indicated, capitalized terms used in this Amendment are used with the
meanings attributed thereto in the Existing Agreement.

W I T N E S S E T H :

     WHEREAS, the parties wish to modify the Existing Agreement as hereinafter set
forth;

          NOW, THEREFORE, in consideration of the premises and the mutual agreements herein contained,
the parties hereto hereby agree as follows:

 

 

          1. Amendments to Existing Agreement. Subject to the terms and conditions hereinafter
set forth, the parties hereby agree as follows:

          1.1. The definitions of the following terms in Exhibit I to the Existing Agreement are hereby
amended and restated in their entirety to read, respectively, as follows:

     “Aggregate Commitment” means, on any date of determination, the aggregate
amount of the Liquidity Banks’ Commitments to make Loans hereunder. As of the date
hereof, the Aggregate Commitment is $110,000,000.

     “Excess Terms Allowance” means the excess, if any, of the aggregate Outstanding
Balance of all Eligible Receivables which by its terms are due and payable greater
than 60 days from the original invoice date thereof that exceeds 2.5% of the
Outstanding Balance of all Eligible Receivables.

     “Foreign Receivable Excess” means the excess, if any, of the aggregate
Outstanding Balance of all Eligible Foreign Receivables over 1.5% of the Outstanding
Balance of all Eligible Receivables.

     “Obligor Concentration Limit” means, at any time, in relation to the aggregate
Outstanding Balance of Receivables owed by any single Obligor and its Affiliates (if
any), the applicable concentration limit shall be determined as follows for Obligors
who have short term unsecured debt ratings currently assigned to them by S&P and
Moody’s (or in the absence thereof, the equivalent long term unsecured senior debt
ratings), the applicable concentration limit shall be determined according to the
following table:

	 	 	 	 	 
	 	 	 	 	Allowable % of
	S&P Rating	 	Moody’s Rating	 	Eligible Receivables
	A-1+
	 	P-1	 	10%
	A-1
	 	P-1	 	8%
	A-2
	 	P-2	 	7%
	A-3
	 	P-3	 	3%
	Below A-3 or Not Rated
by either S&P or Moody’s
	 	Below P-3 or Not Rated by
either S&P or Moody’s	 	2.5%

; provided, however, that (a) if any Obligor has a split rating, the applicable
rating will be the lower of the two, (b) if any Obligor is not rated by either S&P
or Moody’s, the applicable Obligor Concentration Limit shall be the one set forth in
the last line of the table above, and (c) subject to satisfaction of the Rating
Agency Condition and/or an increase in the percentage set forth in clause
(a)(i) of the definition of “Required Reserve,” upon Borrower’s request from time to
time, the Administrative Agent may agree to a higher percentage of Eligible
Receivables for a particular Obligor and its Affiliates (each such higher
percentage, a “Special Concentration Limit”), it being understood that any Special
Concentration Limit may be cancelled by the Administrative Agent upon not less than
five (5) Business Days’ written notice to the Loan Parties.

2

 

     “Required Reserve Factor Floor” means, for any Calculation Period, the sum
(expressed as a percentage) of (a) 19% plus (b) the product of the Adjusted Dilution
Ratio and the Dilution Horizon Ratio, in each case, as of the immediately preceding
Cut-Off Date.

          1.2. Schedule A to the Existing Agreement are hereby amended and restated in its entirety to
read as set forth in Schedule A hereto.

          2. Conditions Precedent. This Amendment shall become effective as of the date first
above written upon (a) receipt by the Administrative Agent of a counterpart hereof duly executed by
each of the parties hereto, (b) receipt by the Administrative Agent of a counterpart of a third
amendment and restatement of the Fee Letter, duly executed by each of the parties thereto, and (c)
receipt by the Administrative Agent of a counterpart of an amended and restated administrative
agent’s fee letter with the Borrower and the Parent, duly executed by the parties thereto, and of
payment in immediately available funds of all fees required to be paid thereunder on the date
hereof.

          3. Miscellaneous.

          3.1. Except as expressly amended hereby, the Existing Agreement shall remain unaltered and in
full force and effect, and each of the parties hereby ratifies and confirms each of the Transaction
Documents to which it is a party.

          3.2. THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE INTERNAL LAWS
OF THE STATE OF GEORGIA WITHOUT REFERENCE TO PRINCIPLES OF CONFLICTS OF LAW.

          3.3. EACH OF THE COMPANIES HEREBY ACKNOWLEDGES AND AGREES THAT:

          3.3.1. IT IRREVOCABLY (i) SUBMITS TO THE NON-EXCLUSIVE JURISDICTION, FIRST, OF ANY
UNITED STATES FEDERAL COURT, AND SECOND, IF FEDERAL JURISDICTION IS NOT AVAILABLE, OF ANY
GEORGIA STATE COURT, IN EITHER CASE SITTING IN FULTON COUNTY, GEORGIA, IN ANY ACTION OR
PROCEEDING ARISING OUT OF OR RELATING TO THE AGREEMENTS, AND (ii) WAIVES, TO THE FULLEST
EXTENT IT MAY EFFECTIVELY DO SO, THE DEFENSE OF AN INCONVENIENT FORUM TO THE MAINTENANCE OF
AN ACTION OR PROCEEDING IN SUCH COURTS.

          3.3.2. TO THE EXTENT THAT IT HAS OR HEREAFTER MAY ACQUIRE ANY IMMUNITY FROM THE
JURISDICTION OF ANY COURT OR
FROM ANY LEGAL PROCESS (WHETHER THROUGH SERVICE OR NOTICE, ATTACHMENT PRIOR TO
JUDGMENT, ATTACHMENT IN AID TO EXECUTION, EXECUTION OR OTHERWISE) WITH RESPECT TO ITSELF OR
ITS PROPERTY, IT HEREBY IRREVOCABLY WAIVES SUCH IMMUNITY IN RESPECT OF ITS OBLIGATIONS
UNDER OR IN CONNECTION WITH THE EXISTING AGREEMENT (OR EXISTING AGREEMENTS) TO WHICH IT IS
A PARTY.

3

 

          3.4. This Amendment may be executed in any number of counterparts and by the different parties
hereto in separate counterparts, each of which when so executed shall be deemed to be an original
and all of which when taken together shall constitute one and the same Amendment.

<Signature pages follow>

4

 

          IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the date first above
written.

ROCK-TENN FINANCIAL, INC., as Borrower

	 	 	 	 	 
	By: 

Name:

	 	/s/ Bradley W. Prince
 

Bradley W. Prince
	 	  
	Title:

	 	Treasurer	 	 

ROCK-TENN CONVERTING COMPANY, as Servicer

	 	 	 	 	 
	By: 

Name:

	 	/s/ Gregory L. King
 

Gregory L. King
	 	  
	Title:

	 	Vice President Risk Management, Treasurer and Assistant Secretary	 	 

5

 

VARIABLE FUNDING CAPITAL COMPANY LLC

BY: WACHOVIA CAPITAL MARKETS, LLC, ITS ATTORNEY-IN-FACT

	 	 	 	 	 
	By:

	 	/s/ Douglas R. Wilson, Sr.
 

Name: Douglas R. Wilson
	 	  
	 

	 	Title: Director	 	 

6

 

WACHOVIA BANK, NATIONAL ASSOCIATION, as VFCC Agent, a Liquidity Bank and as Administrative
Agent

	 	 	 	 	 
	By:

	 	/s/ Elizabeth R. Wagner
	 	 
	 

	 	 	 	 
	Name:

	 	Elizabeth R. Wagner	 	 
	Title:

	 	Managing Director	 	 

7

 

	 	 	 	 	 
	THREE PILLARS FUNDING LLC	 	 
	 
	 	 	 	 
	By:

	 	/s/ Doris J. Hearn
	 	 
	 

	 	 	 	 
	Name:

	 	Doris J. Hearn	 	 
	Title:

	 	Vice President	 	 

8

 

SUNTRUST ROBINSON HUMPHREY, INC., as TPF Agent

	 	 	 	 	 
	By: 

Name:

	 	/s/ Timothy S. Mueller
 

Timothy S. Mueller
	 	 
	Title:

	 	Managing Director	 	 

SUNTRUST BANK, as TPF Liquidity Bank

	 	 	 	 	 
	By: 

Name:

	 	/s/ Robert Maddox
 

Robert Maddox
	 	 
	Title:

	 	Vice President	 	 

9

 

SCHEDULE A

COMMITMENTS OF LIQUIDITY BANKS

	 	 	 
	Blue Ridge Liquidity Banks	 	Commitment
	Wachovia Bank, National Association
	 	$55,000,000

	 	 	 
	TPF Liquidity Banks	 	Commitment
	SunTrust Bank
	 	$55,000,000

10

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