Document:

Exhibit 10.46

 

AMENDMENT TO

LAWSON SOFTWARE, INC.

1996 STOCK
INCENTIVE PLAN

(Adopted June 24,
2010 to remove from future grant any options

surrendered to pay
the exercise price or tax withholdings)

 

Pursuant to Section 12(e) of
the Lawson Software, Inc. 1996 Stock Incentive Plan, the Board of
Directors of Lawson Software, Inc. has approved the following amendment to
the 1996 Stock Incentive Plan (the “1996 Plan”), effective June 24,
2010.  Capitalized terms that are not
defined in this Amendment shall have the same respective meanings as described
in the 1996 Plan.

 

Amendment

 

Section 4 of the 1996 Plan is
hereby amended to include the following additional Section 4(f):

 

Section 4(f).  Surrendered Options No Longer Available for
Future Awards.  Notwithstanding any provision in
this Plan to the contrary, the Shares underlying any Options surrendered to pay
the exercise price and/or tax withholdings due upon the exercise of such
Options on or after June 24, 2010 will not again become available for
issuance under any Awards under this Plan.Exhibit 10.47

 

AMENDMENT TO

LAWSON SOFTWARE, INC.

2001 STOCK
INCENTIVE PLAN

(Adopted June 24,
2010 to allow for surrender of options to pay exercise price and

tax withholdings,
and remove from future grant any of those surrendered options)

 

Pursuant to Section 13(a) of
the Lawson Software, Inc. 2001 Stock Incentive Plan, the Board of
Directors of Lawson Software, Inc. has approved the following amendment to
the 2001 Stock Incentive Plan (the “2001 Plan”), effective June 24,
2010.  Capitalized terms that are not
defined in this Amendment shall have the same respective meanings as described
in the 2001 Plan.

 

Amendment

 

Section 7 of the 2001 Plan is
hereby amended to include the following additional Sections 7(d) and 7(e):

 

(d)           Notwithstanding any provision in this
Plan to the contrary, an optionee may elect to pay the purchase price for the
Shares that are subject to the exercise of an option, in whole or in part, by a
“net exercise” of such option, as further described below.  In the case of a “net exercise” of an option,
the Company will not require a cash payment of the exercise price of the option
but will reduce the number of Shares issued upon exercise by the largest number
of whole Shares that have a fair market value that does not exceed the
aggregate exercise price for the Shares exercised under this method.  Shares will no longer be outstanding under an
option (and will therefore not thereafter be exercisable) following the
exercise of such option to the extent that Shares are used to pay the exercise price
of an option under the “net exercise.”

 

(e)           Notwithstanding
any provision in this Plan to the contrary, the Shares underlying any options
surrendered to pay the exercise price using a “net exercise” under Section 7(d) or
to pay tax withholdings under Section 12(a) on or after June 24,
2010 will not again become available for issuance under this Plan.Exhibit 10.48

 

SYMPHONY
CHANGE REQUEST (SCR) FORM – FOR THE MASTER SERVICES AGREEMENT

 

VENDOR:  Symphony Service Corp.

ACCOUNT:  Lawson Software
Americas, Inc.

 

	
  Priority:

  	
  o URGENT

  	
  o HIGH

  	
  o MEDIUM

  	
  o LOW

  

 

Requestor’s
Name:  Curt Olson

 

	
  Phone
  #:

  	
   

  	
  Fax
  #:

  
	
   

  	
   

  	
   

  
	
  Email:

  	
   

  	
  Pager
  #:

  

 

Requested
Implementation Due Date:

 

Request
Type:

 

o New
Functionality (i.e.; a new functionality or process is required.)

 

o Enhancement
(i.e.; change to an existing functionality or process.)

 

x Other

 

This
SCR is issued pursuant to and incorporates the terms of the Master Services
Agreement dated September 25, 2009 (the “Agreement”) between Lawson
Software Americas, Inc. (“Client”) and Symphony Service Corp. (“Symphony”).

 

The
parties agree to be bound by the terms herein.

 

 

Description

 

1.  The parties hereby agree to renew the
Agreement for one additional year. The Agreement shall now end May 31,
2011.

 

 

	
  ACCEPTED
  BY:

  	
   

  	
  ACCEPTED
  BY:

  
	
   

  	
   

  	
   

  
	
  Symphony
  Service Corp.

  	
   

  	
  Lawson
  Software Americas, Inc.

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/
  Alan Harlan

  	
   

  	
  By:

  	
  /s/
  Curt Olson

  
	
  Authorized
  Signature

  	
   

  	
  Authorized
  Signature

  
	
   

  	
   

  	
   

  
	
  Name:

  	
  Alan
  Harlan

  	
   

  	
  Name:

  	
  Curt
  Olson

  
	
  Print
  Name

  	
   

  	
  Print
  Name

  
	
   

  	
   

  	
   

  
	
  Title:

  	
  President.
  PLM

  	
   

  	
  Title:

  	
  Director
  – Global Sourcing

  
	
   

  	
   

  	
   

  
	
  Date:

  	
  May 10,
  2010

  	
   

  	
  Date:

  	
  May 10,
  2010Exhibit 4.11

 

AMENDMENT NO. 3

 

TO

 

CREDIT AGREEMENT

 

This
AMENDMENT NO. 3 to CREDIT AGREEMENT (this “Amendment”), dated as of
April 7, 2010, is entered into by and among AAR Corp. (the “Company”),
the financial institutions party hereto (the “Lenders”), and Bank of
America, N.A. (as successor by merger to LaSalle Bank National Association), as
Administrative Agent (the “Administrative Agent”).  Each capitalized term used herein and not
otherwise defined herein shall have the meaning given to it in the below-defined
Credit Agreement.

 

WITNESSETH

 

WHEREAS,
the Company, certain Lenders and the Administrative Agent are parties to that
certain Credit Agreement dated as of August 31, 2006 (as the same has been or
may be amended, restated, supplemented or otherwise modified from time to time,
the “Credit Agreement”); and

 

WHEREAS,
Banc of America Securities LLC currently acts as lead arranger for the credit
facility; and

 

WHEREAS,
the Company wishes to amend the Credit Agreement in certain respects and the
Required Lenders and the Administrative Agent are willing to amend the Credit
Agreement on the terms and conditions set forth herein;

 

NOW,
THEREFORE, in consideration of the premises set forth above, the terms and
conditions contained herein, and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the Company, the
Administrative Agent and the Required Lenders hereby agree as follows:

 

SECTION 1.           Amendment to Credit Agreement.  Effective as of the date first above written,
and subject to the satisfaction of the conditions to effectiveness set forth in
Section 2 below, the Credit Agreement shall be and hereby is amended as
follows:

 

(a)           Section 1.1 of the Credit Agreement is
hereby amended to insert the following definitions in the appropriate
alphabetical order:

 

Aviation Worldwide Acquisition means the acquisition of
all of the Capital Securities of Aviation Worldwide Services, L.L.C. and EP
Aviation, LLC pursuant to and as contemplated by the Aviation Worldwide Acquisition
Documents.

 

 

Aviation Worldwide Acquisition Agreement means the Membership
Interest Purchase Agreement, dated as of March 25, 2009, by and among Xe
Services LLC, AAR Airlift, LLC and AAR Corp., as amended as of April 7, 2010.

 

Aviation Worldwide Acquisition Documents means the Aviation
Worldwide Acquisition Agreement, and each of the Ancillary Agreements (as
defined therein), and all schedules, exhibits, annexes and amendments thereto
and all side letters and agreements affecting the terms thereof or entered into
in connection therewith, each as amended, restated, supplemented or otherwise
modified from time to time.

 

Aviation Worldwide Group means AAR Airlift, LLC, a
Delaware limited liability company, Aviation Worldwide Services, L.L.C., a
Florida limited liability company, EP Aviation, LLC, a Delaware limited
liability company, and each of their respective Subsidiaries.

 

Huntington Debt means the Debt of any of the Aviation
Worldwide Group owed to The Huntington National Bank, and its successors and
assigns.

 

2010 Credit Agreement means a Credit Agreement,
expected to be entered into by and among the Company, the lenders party
thereto, and Bank of America, as Administrative Agent, providing for a
$75,000,000 revolving credit facility, as the same may be amended, restated,
supplemented or otherwise modified from time to time.

 

(b)           The definition of “EBITDA” set forth in
Section 1.1 of the Credit Agreement is hereby amended to insert immediately
before the phrase “in each case” the following:

 

“and
transaction costs in an aggregate amount not to exceed $4,000,000 incurred in
connection with the Aviation Worldwide Acquisition, the Huntington Debt and the
2010 Credit Agreement and transaction costs incurred in connection with the
issuance by the Company of high-yield debt or equity”.

 

(c)           The definition of “Fixed Charge Coverage Ratio”
set forth in Section 1.1 of the Credit Agreement is hereby amended to
delete therefrom the phrase “(excluding (A) the Revolving Loans)” and to
substitute therefor the phrase “(excluding (A) the Revolving Loans, revolving
loans under the 2010 Credit Agreement and revolving loans under the Huntington
Debt).”

 

(d)           Section 2.1.2 of the Credit Agreement is hereby
amended to delete the reference to “$20,000,000” and to substitute therefor the
following:  “$25,000,000”.

 

2

 

(e)           Section 2.3.1 of the Credit Agreement is hereby
amended to add at the end of the third sentence immediately following the
phrase “in whole or in part” the following:

 

“provided
further that the expiration date of a Letter of Credit or Letters of Credit in
the aggregate Stated Amount of up to $5,000,000 may extend until August 31,
2013 provided such Letter or Letters of Credit are Cash Collateralized between
six months after the Termination Date and August 31, 2013 in an amount equal to
125% of the stated face amount thereof and remain Cash Collateralized in such
fashion until the termination or expiration of such Letter or Letters of Credit
and the full repayment of all amounts owing under or in connection therewith”.

 

(f)            Section 9.6 of the Credit Agreement is hereby
amended by adding the following at the beginning thereof:

 

“Except
as set forth on Schedules 5.8 and 5.9 of the Aviation Worldwide Acquisition
Agreement,”.

 

(g)           Section 11.1(h) of the Credit Agreement is hereby
amended by adding the following at the end thereof:

 

“and
the Huntington Debt in an aggregate principal amount not to exceed $65,000,000
at any time outstanding”.

 

(h)           Section 11.2(g) of the Credit Agreement is hereby
amended by adding the following at the end thereof:

 

“and
the Liens on the assets of the Aviation Worldwide Group securing the Huntington
Debt”

 

(i)            Section 11.6(c) of the Credit
Agreement is hereby amended to delete therefrom the parenthetical set forth
therein that begins “(excluding the aggregate consideration paid by the Company
pursuant to the Brown International Acquisition Documents)” and to substitute
therefor the following:

 

(excluding
the aggregate consideration paid by the Company or one of its Subsidiaries
pursuant to the Brown International Acquisition Documents, the Reebaire
Aircraft Acquisition Documents, the Avborne Acquisition Documents, the Summa
Acquisition Documents, and, so long as the aggregate consideration therefor
does not exceed $200,000,000 plus any increase thereto pursuant to Section 3.2
of the Aviation Worldwide Acquisition Agreement, the Aviation Worldwide
Acquisition Documents)

 

3

 

(j)            Section 11.9 of the Credit Agreement is hereby
amended by replacing each occurrence of the term “Acquired Debt” therein with
the terms “Acquired Debt, the Huntington Debt”.

 

(k)           AAR Airlift, LLC, a Delaware limited liability
company, Aviation Worldwide Services, L.L.C., a Florida limited liability
company, EP Aviation, LLC, a Delaware limited liability company, and each of
their respective Subsidiaries, each is and hereafter shall be deemed a
Restricted Subsidiary for all purposes under the Credit Agreement.

 

SECTION 2.           Condition of Effectiveness.  This Amendment shall become effective and be
deemed effective as of the date hereof, subject to the satisfaction of the
conditions precedent that the Administrative Agent shall have received each of
the following:

 

(a)           counterparts of this Amendment executed by the
Company and those Lenders that are required to be signatories hereto;

 

(b)           such other documents as the Administrative Agent may
reasonably request, all in form and substance reasonably satisfactory to the
Administrative Agent; and

 

(c)           the Administrative Agent shall have received from
the Company in immediately available funds, for the ratable benefit of those
Lenders (the “Delivering Lenders”) that deliver to the Administrative
Agent their executed signature pages hereto no later than 5:00 p.m. Chicago
time on April 6, 2010 (with delivery determined by the Administrative Agent in
its sole discretion), an amendment fee equal to 0.30% times the
aggregate of the Commitments of the Delivering Lenders as of April 6, 2010,
which amendment fee shall be fully earned as of the effective date hereof and
shall be nonrefundable once paid.

 

SECTION 3.           Representations and Warranties of the Company. The Company
hereby represents and warrants as follows:

 

(a)           The Credit Agreement, as amended by this Amendment
constitutes the legal, valid and binding obligation of the Company and is
enforceable against the Company in accordance with its terms, subject to
bankruptcy, insolvency and similar laws affecting the enforceability of
creditors’ rights generally and to general principles of equity.

 

(b)           Upon the effectiveness of this Amendment, the
Company hereby (i) represents that no Event of Default or Unmatured Event of
Default exists under the terms of the Credit Agreement, (ii) reaffirms all
covenants, representations and warranties made in the Credit Agreement, and
(iii) agrees that all such covenants, representations and warranties shall be
deemed to have been remade as of the effective date of this Amendment.  The execution, delivery and effectiveness of
this Amendment shall not, except as expressly provided herein, operate as a
waiver of any right, power, or remedy of the Lenders or the Administrative
Agent under the Credit Agreement or any related document, instrument or
agreement.  The Administrative Agent and
the Lenders expressly reserve all of their rights and remedies, including the
right to institute enforcement actions in consequence of any existing Events of
Default or Unmatured Events of Default not waived hereunder or otherwise at any
time without further notice, under the Credit Agreement, all other documents,
instruments and agreements executed in connection therewith, and applicable
law.

 

4

 

SECTION 4.           Effect on the Credit Agreement.

 

(a)           Upon the effectiveness of this Amendment, on and
after the date hereof, each reference in the Credit Agreement to “this
Agreement,” “hereunder,” “hereof,” “herein” or words of like import shall mean
and be a reference to the Credit Agreement, as amended and modified hereby.

 

(b)           Except as specifically amended and modified above,
the Credit Agreement and all other documents, instruments and agreements
executed and/or delivered in connection therewith shall remain in full force
and effect, and are hereby ratified and confirmed.

 

(c)           The execution, delivery and effectiveness of this
Amendment shall neither, except as expressly provided herein, operate as a
waiver of any right, power or remedy of the Lenders or the Administrative
Agent, nor constitute a waiver of any provision of the Credit Agreement or any
other documents, instruments and agreements executed and/or delivered in
connection therewith.

 

SECTION 5.           Costs and Expenses.  The Company agrees to pay on demand all
reasonable costs, fees and out-of-pocket expenses (including attorneys’ fees,
costs and expenses charged to the Administrative Agent) incurred by the
Administrative Agent and the Lenders in connection with the preparation,
arrangement, execution and enforcement of this Amendment.

 

SECTION 6.           Governing Law.  This Amendment shall be governed by and
construed in accordance with the internal laws of the State of Illinois without
regard to conflicts of law provisions of the State of Illinois.

 

SECTION 7.           Headings.  Section headings in this Amendment are
included herein for convenience of reference only and shall not constitute a
part of this Amendment for any other purpose.

 

SECTION 8.           Counterparts.  This Amendment may be executed by one or more
of the parties to the Amendment on any number of separate counterparts and all
of said counterparts taken together shall be deemed to constitute one and the
same instrument.  A facsimile copy of a
signature hereto shall have the same effect as the original thereof.

 

SECTION 9.           No Strict Construction. The parties
hereto have participated jointly in the negotiation and drafting of this
Amendment.  In the event an ambiguity or
question of intent or interpretation arises, this Amendment shall be construed
as if drafted jointly by the parties hereto and no presumption or burden of
proof shall arise favoring or disfavoring any party by virtue of the authorship
of any provisions of this Amendment.

 

The remainder of this page
is intentionally blank.

 

5

 

IN
WITNESS WHEREOF, this Amendment has been duly executed as of the day and year
first above written.

 

 

	
   

  	
  AAR
  CORP.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Timothy J Romenesko

  
	
   

  	
  Name:

  	
  Timothy
  J. Romenesko

  
	
   

  	
  Title:

  	
  President

  

 

Signature Page to Amendment
No. 3 to

AAR Corp. Credit Agreement

 

 

	
   

  	
  BANK
  OF AMERICA, N.A., 

  
	
   

  	
  as
  Administrative Agent, Issuing Lender and as a Lender

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Robert Hamman

  
	
   

  	
  Name:

  	
  Robert
  Hamman

  
	
   

  	
  Title:

  	
  Vice
  President

  

 

Signature Page to Amendment
No. 3 to

AAR
Corp. Credit Agreement

 

 

	
   

  	
  WELLS
  FARGO BANK, N.A., as a Lender

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Andrew T. Cavallari

  
	
   

  	
  Name:

  	
  Andrew
  T. Cavallari

  
	
   

  	
  Title:

  	
  Vice
  President

  

 

Signature Page to Amendment
No. 3 to

AAR
Corp. Credit Agreement

 

 

	
   

  	
  NATIONAL
  CITY BANK, as a Lender

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:
  

  	
  /s/
  Jon R. Hinard

  
	
   

  	
  Name:

  	
  Jon
  R. Hinard

  
	
   

  	
  Title:
  

  	
  Senior
  Vice President

  

 

Signature Page to Amendment
No. 3 to

AAR
Corp. Credit Agreement

 

 

	
   

  	
  ASSOCIATED
  BANK, N.A., as a Lender

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Jake Goldstein

  
	
   

  	
  Name:

  	
  Jake
  Goldstein

  
	
   

  	
  Title:

  	
  Vice
  President

  

 

Signature Page to Amendment
No. 3 to

AAR Corp. Credit Agreement

 

 

	
   

  	
  U.S.
  BANK, NATIONAL ASSOCIATION, as Syndication Agent and as a Lender

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Robert R. Bourke

  
	
   

  	
  Name:

  	
  Robert
  R. Bourke

  
	
   

  	
  Title:

  	
  Senior
  Vice President

  

 

Signature Page to Amendment
No. 3 to

AAR Corp. Credit Agreement

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