Document:

2020-03-17 8K EX 10.1 Quest Amendment

		

			 

		

			

					

						 

					

					

						 

					

					

						 

				
	

					

						 

					

					

						 

					

					

						 

					

					

						 

					

					

						Exhibit 10.1

				

		

			 

		

		
			AMENDMENT NO. 4  TO TESTING AND SERVICES AGREEMENT
		

		
			﻿
		

		
			THIS AMENDMENT NO. 4  TO TESTING AND SERVICES AGREEMENT (this “Amendment”) is made and entered into as of the date on which both parties have executed this Amendment (the “Amendment Effective Date”) by and between Quest Diagnostics Incorporated, a Delaware corporation (“Quest Diagnostics”) on the one hand, and Vermillion, Inc., a Delaware corporation and ASPiRA Labs, a Delaware corporation and wholly owned subsidiary of Vermillion, Inc. (collectively “Vermillion”) on the other hand, with respect to that certain Testing and Services Agreement dated as of March 11, 2015, and that certain Amendment No. 1 to Testing and Services Agreement dated as of April 10, 2015 and that certain Amendment No. 2 to Testing and Services Agreement dated as of March 11, 2017 and that certain Amendment No. 3 to Testing and Services Agreement dated as of January 19, 2019 (together, the “TSA”).  Capitalized terms used and not otherwise defined herein are used with the meanings attributed to them in the TSA.  All references to section numbers refer to section numbers in the TSA.
		

		
			﻿
		

		
			WITNESSETH:
		

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

			
	
			
				 1.
			

			
	
			
			Section 5.3 of the TSA is hereby deleted in its entirety and the following new Section 5.3 is substituted in its place:

		
			﻿
		

		
			5.3This agreement shall terminate in 8 (eight) years from the Effective Date and shall renew for an additional one-year period thereafter by the written agreement of the Parties at least 60 (sixty) days prior to such renewal date.  
		

		
			﻿
		

			
	
			
				 2.
			

			
	
			
			The following new Section 8.10 is inserted into the TSA, effective as of the Amendment Date: March 1, 2020

		
			8.10Quest Diagnostics will assign a part-time project manager to Vermillion’s account to provide certain services to resolve issues arising from the performance of Services and with respect to Specimens sourced to Quest Diagnostics’ testing lab through its Patient Service Centers and its In-office Phlebotomists (IOPs).  The fee for such project manager shall be $75,000 (Seventy-five thousand dollars) per year (the “Annual Service Fee”).  Vermillion shall pay to Quest the Annual Service Fee in 4 (four) equal installments on a quarterly basis throughout the Term of this Agreement at the time payments are made for 
		

		 

 

		blood draw fees.  Project manager will be assigned and meet with an assigned Vermillion point of contact to resolve any issues with respect to Services. Any additional work to be covered by the Annual Service Fee must be approved by in writing by both Parties.
		

		
			﻿
		

			
	
			
				 3.
			

			
	
			
			Except as expressly modified by this Amendment, all terms and conditions of the TSA remain in full force and effect. 

		
			﻿
		

		
			﻿
		

		
			 [Intentionally left blank]
		

		
			﻿
		

		

		

		 

 

		IN WITNESS WHEREOF, the parties intending to be legally bound, have set their hands the date and year first above written.
		

			
					
						﻿

					
					
						 

				
	
					
						Quest Diagnostics Inc.

					
					
						Vermillion/Aspira Labs

				
	
					
						By: /s/ Barbara L. Feringa

					
					
						By: /s/ Valerie Palmieri

				
	
					
						Print Name: Barbara L. Feringa

					
					
						Print Name: Valerie Palmieri

				
	
					
						Title: Executive Director, GYN

					
					
						Title: CEO

				
	
					
						Date: 3/11/2020

					
					
						Date: 3/11/2020

				
	
					
						﻿

					
					
						 

				
	
					
						﻿

					
					
						 

				
	
					
						﻿

					
					
						 

				
	
					
						﻿

					
					
						 

				
	
					
						﻿

					
					
						 

				
	
					
						﻿

					
					
						 

				

		
			﻿
		

		
			
		

		
			﻿EXHIBIT 10.1

 

EXECUTION VERSION

 

AMENDMENT NO. 1 TO CREDIT AGREEMENT

 

THIS AMENDMENT NO.
1 TO CREDIT AGREEMENT (this “Amendment”) is made and entered into as of March 17, 2020 by and among QUAKER
CHEMICAL CORPORATION, a Pennsylvania corporation (the “Company”), certain Subsidiaries of the Company party
hereto (each a “Designated Borrower” and, together with the Company, the “Borrowers” and,
each a “Borrower”), each guarantor party hereto (the “Guarantors” and together with the Borrowers,
the “Loan Parties”), each lender party hereto (collectively, the “Lenders” and individually,
a “Lender”), and BANK OF AMERICA, N.A., as Administrative Agent (in such capacity, the “Administrative
Agent”).

 

W I T N E S S E T H:

 

WHEREAS,
the Borrowers, the Administrative Agent, and the lenders from time to time party thereto have entered into that certain Credit
Agreement dated as of August 1, 2019 (as amended, amended and restated, supplemented or otherwise modified from time to time, the
 “Credit Agreement”; all capitalized terms not otherwise defined herein shall have the meaning given thereto
in the Credit Agreement);

 

WHEREAS,
the Borrowers have requested that the Administrative Agent and the Required Lenders agree to that certain amendment to the Credit
Agreement as set forth herein, and the Administrative Agent and Lenders party hereto constituting Required Lenders, subject to
the terms and conditions contained herein, are willing to effect such amendment and modification on the terms and conditions contained
in this Amendment; and

 

WHEREAS,
the Loan Parties are willing to execute and deliver this Amendment;

 

NOW, THEREFORE,
in consideration of the premises and the terms hereof, the parties hereto agree as follows:

 

		1.	Amendment to Credit Agreement. Subject to the terms and conditions set forth herein,

the Credit Agreement is hereby amended
by amending and restating Section 6.01(a) of the Credit Agreement in its entirety such that after giving effect to this
Amendment, such Section shall read as follows:

 

“(a)commencing
with the fiscal year ending December 31, 2019, as soon as available, but in any event not later than the SEC Filing Date (or, with
respect to the fiscal year ending December 31, 2019, not later than April 16, 2020), a consolidated balance sheet of the Company
and its Subsidiaries as at the end of such fiscal year, and the related consolidated statements of income or operations, changes
in shareholders’ equity, and cash flows for such fiscal year, setting forth in each case in comparative form the figures
for the previous fiscal year, all in reasonable detail and prepared in accordance with GAAP, audited and accompanied by a report
and opinion of an independent certified public accountant of nationally recognized standing reasonably acceptable to the Required
Lenders (which shall be deemed acceptable if such firm is one of the “Big Four”), which report and opinion shall be
prepared in accordance with generally accepted auditing standards and shall not be subject to any “going concern” or
like qualification or exception or any qualification or exception as to the scope of such audit;”

 

2.       Effectiveness;
Conditions Precedent.

 

The effectiveness of
this Amendment and the amendment to the Credit Agreement provided in Section 1 hereof are subject to the satisfaction of
the following conditions precedent:

 

    

     

    

 

(a)       The
Administrative Agent shall have received counterparts of this Amendment, duly executed by each Loan Party, the Administrative Agent
and Lenders sufficient to constitute Required Lenders, which counterparts may be delivered by telefacsimile or other electronic
means (including .pdf), but such delivery will be promptly followed by the delivery of original signature pages by each Person
party hereto unless waived by the Administrative Agent; and

 

(b)       All
fees and expenses payable to the Administrative Agent (including the fees and expenses of counsel to the Administrative Agent to
the extent due and payable under Section 10.04(a) of the Credit Agreement) estimated to date and for which invoices have
been presented a reasonable period of time prior to the effectiveness hereof shall have been paid in full (without prejudice to
final settling of accounts for such fees and expenses).

 

For purposes of determining compliance
with the conditions specified in this Section 2, each Lender that has signed this Amendment shall be deemed to have consented
to, approved or accepted or to be satisfied with, each document or other matter required hereunder to be consented to or approved
by or acceptable or satisfactory to a Lender unless the Administrative Agent shall have received notice from such Lender prior
to the date hereof specifying its objection thereto.

 

3.       Representations
and Warranties.

 

In order to induce
the Administrative Agent and the Lenders to enter into this Amendment, each Loan Party represents and warrants to the Administrative
Agent and the Lenders as follows:

 

(a)              
The representations and warranties made by such Loan Party in Article V of the Credit Agreement or in any other Loan
Document, or which are contained in any document delivered pursuant to the Credit Agreement or another Loan Document, are, in each
case, true and correct in all material respects on and as of the date hereof, except that (i) in the case of the representations
and warranties qualified or modified as to materiality in the text thereof, such representations and warranties shall be true and
correct in all respects, (ii) to the extent that such representations and warranties expressly relate to an earlier date, in which
case they are true and correct in all material respects as of such earlier date and (iii) the representations and warranties contained
in subsections (a) and (b) of Section 5.05 of the Credit Agreement shall be deemed to refer
to the most recent statements furnished pursuant to subsections (a) and (b), respectively, of Section 6.01
of the Credit Agreement;

 

(b)             
This Amendment has been duly authorized, executed and delivered by such Loan Party, and constitutes a legal, valid and binding
obligation of such Borrower, except as may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws relating
to or limiting creditors’ rights generally or by equitable principles relating to enforceability; and

 

(c)              
Both before and after giving effect to this Amendment, no Default or Event of Default has occurred and is continuing.

 

4.       Entire
Agreement. This Amendment is a Loan Document. This Amendment, together with all the other Loan Documents (collectively,
the “Relevant Documents”), sets forth the entire understanding and agreement of the parties hereto in relation
to the subject matter hereof and supersedes any prior negotiations and agreements among the parties relating to such subject matter.
No promise, condition, representation or warranty, express or implied, not set forth in the Relevant Documents shall bind any party
hereto, and no such party has relied on any such promise, condition, representation or warranty. Each of the parties hereto acknowledges
that, except as otherwise expressly stated in the Relevant Documents, no representations, warranties or commitments, express or
implied, have been made by any party to the other in relation to the subject matter hereof or thereof. None of the terms or conditions
of this Amendment may be changed, modified, waived or canceled orally or otherwise, except in writing and in accordance with Section
10.01 of the Credit Agreement.

 

    2

     

    

 

5.       Full
Force and Effect of Credit Agreement. Except as hereby specifically amended, modified or supplemented, the Credit Agreement
is hereby confirmed and ratified in all respects and shall be and remain in full force and effect according to its respective terms.

 

6.       Governing
Law. This Amendment shall in all respects be governed by, and construed in accordance with, the laws of the State of New
York, and shall be further subject to the provisions of Sections 10.14 and 10.15 of the Credit Agreement.

 

7.       Enforceability.
Should any one or more of the provisions of this Amendment be determined to be illegal or unenforceable as to one or more of the
parties hereto, all other provisions nevertheless shall remain effective and binding on the parties hereto.

 

8.       References;
Interpretation. All references in any of the Loan Documents to the “Credit Agreement” shall mean the Credit
Agreement, as amended hereby. The rules of interpretation set forth in Section 1.02 of the Credit Agreement shall be applicable
to this Amendment.

 

9.       Successors
and Assigns. This Amendment shall be binding upon and inure to the benefit of each Borrower, the Administrative Agent and
each of the Lenders, and their respective successors, legal representatives, and assignees to the extent such assignees are permitted
assignees as provided in Section 10.06 of the Credit Agreement.

 

10.       No
Novation; Reaffirmation. Neither the execution and delivery of this Amendment nor the consummation of any other transaction
contemplated hereunder is intended to constitute a novation of the Credit Agreement or of any of the other Loan Documents or any
obligations thereunder. Each Loan Party hereby (i) affirms and confirms each of the Loan Documents to which it is a party and its
joint and several Obligations thereunder, (ii) affirms that it has the right, power and authority and has taken all necessary corporate
and other action to authorize the execution, delivery and performance of this Amendment and (iii) agrees that, notwithstanding
the effectiveness of this Amendment, each Loan Document shall continue to be in full force and effect.

 

11.       Counterparts.
This Amendment may be executed in any number of counterparts, each of which shall be deemed an original as against any party whose
signature appears thereon, and all of which shall together constitute one and the same instrument. Delivery of an executed counterpart
of a signature page of this Amendment by telecopy or other electronic means (including .pdf) shall be effective as delivery of
a manually executed counterpart of this Amendment.

 

[Remainder of page is intentionally
left blank; signature pages follow.]

 

    3

     

    

 

IN WITNESS WHEREOF,
the parties have duly executed this Amendment on the day and year first written above.

 

	 	BORROWERS:
	 	 	 
	 	QUAKER CHEMICAL CORPORATION
	 	 
	 	By:	/s/   MARY DEAN HALL
	 	Name:	 Mary Dean Hall
	 	Title:	Senior Vice President, Chief Financial Officer and Treasurer 
	 	 	 
	 	Quaker Chemical B.V. 
	 	 	 
	 	By:	/s/   MARY DEAN HALL
	 	Name:	Mary Dean Hall
	 	Title:	Authorized Signatory
	 	 	 
	 	GUARANTORS:
	 	 	 
	 	AC PRODUCTS, INC.
	 	 
	 	By:	/s/   MARY DEAN HALL
	 	Name:	Mary Dean Hall 
	 	Title:	Treasurer 
	 	 	 
	 	SUMMIT LUBRICANTS INC.
	 	ECLI PRODUCTS, LLC 
	 	 
	 	By:	/s/   MARY DEAN HALL
	 	Name:	Mary Dean Hall 
	 	Title:	Vice President 

 

    Quaker Chemical Corporation
Amendment No. 1 to Credit Agreement
Signature Page

     

    

 

	 	HOUGHTON INTERNATIONAL INC.
	 	HOUGHTON TECHNICAL CORP.
	 	WALLOVER ENTERPRISES INC.
	 	ULTRASEAL AMERICA, INC. 
	 	SIFCO APPLIED SURFACE CONCEPTS, LLC  
	 	 
	 	By:	/s/   MARY DEAN HALL
	 	Name:	Mary Dean Hall 
	 	Title:	President, Chief Financial Officer and Treasurer  
	 	 	 
	 	SUMMIT LUBRICANTS INC. AS GENERAL PARTNER OF Quaker Houghton International Limited Partnership
	 	 
	 	By:	/s/   MARY DEAN HALL
	 	Name:	Mary Dean Hall
	 	Title:	Vice President
	 	 	 
	 	QUAKER SPECIALTY CHEMICALS (UK) LIMITED   
	 	 	 
	 	By:	/s/   MARY DEAN HALL
	 	Name:	Mary Dean Hall 
	 	Title:	Director   
	 	 	 
	 	QUAKER HOUGHTON HOLDINGS LIMITED
	 	QH HOLDINGS LIMITED 
	 	QH CHEMICAL LIMITED 
	 	QH INTERNATIONAL LIMITED   
	 	 	 
	 	By:	/s/   MICHAEL JAMES MCGRATH
	 	Name:	Michael James McGrath 
	 	Title:	Director   
	 	 	 
	 	QUAKER HOUGHTON (FINCO) LTD   
	 	 
	 	By:	/s/   MICHAEL JAMES MCGRATH
	 	Name:	Michael James McGrath 
	 	Title:	A Director   

  

    Quaker Chemical Corporation
Amendment No. 1 to Credit Agreement
Signature Page

     

    

  

	 	bank of america, n.a., as 
	 	Administrative Agent
	 	 	 
	 	By:	/s/ Ronado Naval
	 	Name:  	Ronaldo Naval 
	 	Title:	Vice President 

 

 

    Quaker Chemical Corporation
Amendment No. 1 to Credit Agreement
Signature Page

     

    

 

	 	bank of america, n.a., as a Lender, L/C Issuer

 and U.S. Dollar Swing Line Lender
	 	 
	 	By:	/s/ Kevin Dobosz
	 	Name:  	Kevin Dobosz
	 	Title:	Senior Vice President 

 

 

    Quaker Chemical Corporation
Amendment No. 1 to Credit Agreement
Signature Page

     

    

 

	 	DEUTSCHE BANK AG, NEW YORK BRANCH
	 	 	 
	 	By:	/s/ Michael Strobel
	 	Name:  	Michael Strobel 
	 	Title:	Vice President 
	 	 	 
	 	 	 
	 	By:	/s/ Philip Tancorra
	 	Name:	Philip Tancorra 
	 	Title:	Associate 

 

 

    Quaker Chemical Corporation
Amendment No. 1 to Credit Agreement
Signature Page

     

    

 

	 	CITIZENS bANK, N.A.
	 	 	 
	 	By:	/s/ Hassan Shakeel
	 	Name:  	Hassan Shakeel
	 	Title:	Vice President 

 

 

    Quaker Chemical Corporation
Amendment No. 1 to Credit Agreement
Signature Page

     

    

 

	 	JPMORGAN CHASE BANK, N.A.
	 	 	 
	 	By:	/s/ Louis Salvino
	 	Name:  	Louis Salvino 
	 	Title:	Vice President 

 

 

    Quaker Chemical Corporation
Amendment No. 1 to Credit Agreement
Signature Page

     

    

 

	 	PNC BANK, NATIONAL ASSOCIATION
	 	 	 
	 	By:	/s/ Brendan H. May
	 	Name:  	Brendan H. May 
	 	Title:	Vice President 

 

 

    Quaker Chemical Corporation
Amendment No. 1 to Credit Agreement
Signature Page

     

    

 

	 	WELLS FARGO BANK, NATIONAL ASSOCIATION
	 	 	 
	 	By:	/s/ Jackie Andreozzi
	 	Name:  	Jackie Andreozzi 
	 	Title:	AVP, Portfolio Manager 

 

 

    Quaker Chemical Corporation
Amendment No. 1 to Credit Agreement
Signature Page

     

    

 

	 	CITIBANK, N.A.
	 	 	 
	 	By:	/s/ Stephanie Epkins
	 	Name:  	Stephanie Epkins 
	 	Title:	Senior Vice President 

 

 

    Quaker Chemical Corporation
Amendment No. 1 to Credit Agreement
Signature Page

     

    

 

	 	MUFG UNION BANK, N.A.
	 	 	 
	 	By:	/s/ Spencer Hughes
	 	Name:  	Spencer Hughes 
	 	Title:	Managing Director 

 

 

    Quaker Chemical Corporation
Amendment No. 1 to Credit Agreement
Signature Page

     

    

 

	 	SANTANDER BANK, N.A.
	 	 	 
	 	By:	/s/ Jeffrey Kauffman
	 	Name:  	Jeffrey Kauffman 
	 	Title:	Vice President 
	 	 	 
	 	 	 
	 	By:	/s/ Rory Wang
	 	Name:  	Rory Wang
	 	Title:	Vice President

 

 

    Quaker Chemical Corporation
Amendment No. 1 to Credit Agreement
Signature Page

     

    

 

	 	TD BANK, N.A.
	 	 	 
	 	By:	/s/ Shannon Batchman
	 	Name:  	Shannon Batchman 
	 	Title:	Senior Vice President 

 

 

    Quaker Chemical Corporation
Amendment No. 1 to Credit Agreement
Signature Page

     

    

 

	 	BBVA USA
	 	 	 
	 	By:	/s/ Raj Nambiar
	 	Name:  	Raj Nambiar 
	 	Title:	Sr. Vice President 

 

 

    Quaker Chemical Corporation
Amendment No. 1 to Credit Agreement
Signature Page

     

    

 

	 	BMO HARRIS BANK N.A.
	 	 	 
	 	By:	/s/ Josh Hovermale
	 	Name:  	Josh Hovermale
	 	Title:	Director 

 

 

    Quaker Chemical Corporation
Amendment No. 1 to Credit Agreement
Signature Page

     

    

 

	 	BANK OF MONTREAL, LONDON BRANCH
	 	 	 
	 	By:	/s/ Richard Couzens 
	 	Name:  	Richard Couzens 
	 	Title:	Managing Director 
	 	 	 
	 	 	 
	 	By:	/s/ Scott Matthews
	 	Name:  	Scott Matthews 
	 	Title:	Managing Director, CFO International
	 	 	BMO Financial Group 

 

 

    Quaker Chemical Corporation
Amendment No. 1 to Credit Agreement
Signature Page

     

    

 

	 	CAPITAL ONE, NATIONAL ASSOCIATION
	 	 	 
	 	By:	/s/ Alfredo Wang
	 	Name:  	Alfredo Wang 
	 	Title:	Duly Authorized Signatory 

 

 

    Quaker Chemical Corporation
Amendment No. 1 to Credit Agreement
Signature Page

     

    

 

	 	HSBC BANK USA, N.A.
	 	 	 
	 	By:	/s/ John S. Frame
	 	Name:  	John S. Frame 
	 	Title:	Vice President 

 

 

    Quaker Chemical Corporation
Amendment No. 1 to Credit Agreement
Signature Page

     

    

 

	 	U.S. BANK NATIONAL ASSOCIATION
	 	 	 
	 	By:	/s/ Mark Irey
	 	Name:  	Mary Irey 
	 	Title:	Vice President 

 

 

    Quaker Chemical Corporation
Amendment No. 1 to Credit Agreement
Signature Page

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00306-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00306-of-00352.parquet"}]]