Document:

Unassociated Document

    

    THESE
SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED, OR THE SECURITIES LAWS OF ANY STATE AND MAY NOT BE SOLD OR OFFERED FOR
SALE IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES OR
AN OPINION OF COUNSEL OR OTHER EVIDENCE ACCEPTABLE TO THE COMPANY THAT SUCH
REGISTRATION IS NOT REQUIRED.

    

    CONVERSION
AGREEMENT

    

    THIS
CONVERSION AGREEMENT (the “Agreement”), dated as of May
5, 2009 is made by
and between Sanswire Corp., a Delaware corporation (“Company”), and Jonathan
Leinwand the Chief Executive Officer of the Company (“Employee”).

     

    WHEREAS,
the Company owes Employee wages in arrears representing the pay period from
October 17, 2007 to April 3, 2009 for a total of $319,118.85 (the “Wages”); and

    

    WHEREAS,
the Company and the Employee wish to convert $319,118.85 of the Wages (the
“Conversion Wages”) into
Series E Preferred Stock, par value $0.001 per share (“Preferred Stock”), of the Company, which
rights and preferences are set forth in that certain Statement of Designation,
Powers, Preferences and Rights of Series E Preferred Stock attached hereto as
Exhibit
A;

    

    NOW,
THEREFORE, for good and valuable consideration, the receipt and sufficiency of
which the parties hereby acknowledge the parties agree as follows:

    

    1. Conversion Wages. The
Company and Employee hereby agree that Conversion Wages shall convert into
50,978 shares of the Company’s Preferred Stock (“Conversion
Shares”).

    

    2. Closing. Closing
shall occur upon execution of this Agreement by both parties.  Within
ten (10) business days of Closing, the Company shall deliver a certificate
representing the Conversion Shares to Employee.

    

    3. Further Assurances.
In connection with the Conversion Wages, the Employee, by entering into this
Conversion Agreement, agrees to execute all agreements and other documents as
reasonably requested by the Company.

    

    4. Employee Representations and
Warranties and Covenants. The Employee represents, warrants and covenants
to the Company as follows:

    

    a. No Registration. The
Employee understands that the Conversion Shares, nor the shares of common stock
issuable upon conversion of the Conversion Shares (the “Common Shares”) have not been,
and will not be, registered under the Securities Act of 1933, as amended (the
“Securities Act”) by
reason of a specific exemption from the registration provisions of the
Securities Act, the availability of which depends upon, among other things, the
bona fide nature of the investment intent and the accuracy of such Employee’s
representations as expressed herein or otherwise made pursuant
hereto.

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    b. Investment Intent.
The Employee is acquiring the Conversion Shares for investment for his own
account, not as a nominee or agent, and not with the view to, or for resale in
connection with, any distribution thereof, and such Employee has no present
intention of selling, granting any participation in, or otherwise distributing
the same. The Employee further represents that it will not violate the
Securities Act and does not have any contract, undertaking, agreement or
arrangement with any person or entity to sell, transfer or grant participation
to such person or entity or to any third person or entity with respect to the
Conversion Shares.

    

    c. Investment
Experience. The Employee has substantial experience in evaluating and
investing in private placement transactions of securities in companies similar
to the Company and acknowledges that the Employee can protect its own interests.
The Employee has such knowledge and experience in financial and business matters
so that such Employee is capable of evaluating the merits and risks of its
investment in the Company.

    

    d. Speculative Nature of
Investment. Such Employee understands and acknowledges that the Company
has a limited financial and operating history and that an investment in the
Company is highly speculative and involves substantial risks. Such Employee can
bear the economic risk of such Employee’s investment and is able, without
impairing such Employee’s financial condition, to hold the Conversion Shares for
an indefinite period of time and to suffer a complete loss of such Employee’s
investment.

    

    e. Accredited Investor.
The Employee is an “accredited investor’ within the meaning of Regulation D,
Rule 50 1(a), promulgated by the Securities and Exchange Commission under the
Securities Act and shall submit to the Company such further assurances of such
status as may be reasonably requested by the Company.

    

    f. Rule 144. The
Employee acknowledges that the Conversion Shares must be held indefinitely
unless subsequently registered under the Securities Act or an exemption from
such registration is available. The Employee is aware of the provisions of Rule
144 promulgated under the Securities Act which permit limited resale of shares
subject to the satisfaction of certain conditions.  The Employee
acknowledges that, in the event all of the requirements of Rule 144 are not met,
registration under the Securities Act or an exemption from registration will be
required for any disposition of the Conversion Shares or Common Shares. The
Employee understands that, although Rule 144 is not exclusive, the Securities
and Exchange Commission has expressed its opinion that persons proposing to sell
restricted securities received in a private offering other than in a registered
offering or pursuant to Rule 144 will have a substantial burden of proof in
establishing that an exemption from registration is available for such offers or
sales and that such persons and the brokers who participate in the transactions
do so at their own risk.

    

    g. Authorization.

    

    i.
Employee has all requisite power and authority to execute and deliver this
Conversion Agreement, and to carry out and perform its obligations under the
terms hereof. All action on the part of the Employee necessary for the
authorization, execution, delivery and performance of this Conversion Agreement,
and the performance of all of the Employee’s obligations herein, has been
taken.

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    ii. This
Conversion Agreement, when executed and delivered by the Employee, will
constitute valid and legally binding obligations of the Employee, enforceable in
accordance with its terms except: (i) as limited by applicable bankruptcy,
insolvency, reorganization, moratorium and other laws of general application
affecting enforcement of creditors’ rights generally, and (ii) as limited by
laws relating to the availability of specific performance, injunctive relief or
other equitable remedies or by general principles of equity.

    

    iii. No
consent, approval, authorization, order, filing, registration or qualification
of or with any court, governmental authority or third person is required to be
obtained by the Employee in connection with the execution and delivery of this
Conversion Agreement by the Employee or the performance of the Employee’s
obligations hereunder.

    

    j. Brokers or Finders.
The Employee has not engaged any brokers, finders or agents, and the Company has
not, and will not, incur, directly or indirectly, as a result of any action
taken by the Employee, any liability for brokerage or finders’ fees or agents’
commissions or any similar charges in connection with this Conversion Agreement
and the transactions related hereto.

    

    k. Tax Advisors. The
Employee has reviewed with its own tax advisors the U.S. federal, state, local
and foreign tax consequences of this investment and the transactions
contemplated by this Conversion Agreement. With respect to such matters, such
Employee relies solely on such advisors and not on any statements or
representations of the Company or any of its agents, written or oral. The
Employee understands that it (and not the Company) shall be responsible for its
own tax liability that may arise as a result of this investment or the
transactions contemplated by this Conversion Agreement.

    

    l. Legends. The Employee
understands and agrees that the certificates evidencing the Conversion Shares
and Interest Shares shall bear a legend in substantially the form as follows (in
addition to any legend required by any other applicable agreement or under
applicable state securities laws):

     

    
      “THE
SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED, OR THE SECURITIES LAWS OF ANY STATE, AND MAY
NOT BE SOLD, TRANSFERRED, ASSIGNED, PLEDGED OR HYPOTHECATED UNLESS AND UNTIL
REGISTERED UNDER SUCH ACT AND/OR APPLICABLE STATE SECURITIES LAWS, OR UNLESS THE
COMPANY HAS RECEIVED AN OPINION OF COUNSEL OR OTHER EVIDENCE, REASONABLY
SATISFACTORY TO THE COMPANY AND ITS COUNSEL, THAT SUCH REGISTRATION IS NOT
REQUIRED.

    

    

    5. Governing Law; Entire
Agreement; Counterparts.  The interpretation of this Agreement
shall be governed by Florida law.  This Agreement contains the entire
agreement of the parties, and there are no representations, covenants, or other
agreements except as stated or referred to herein.  Neither this
Agreement nor any provisions hereof shall be modified, discharged, or terminated
except by an instrument in writing signed by the party against whom any
modification, discharge, or termination is sought.  This Agreement may
be executed through the use of separate signature pages or in any number of
counterparts, and each of such counterparts shall, for all purposes, constitute
one agreement binding on all the parties, notwithstanding that all parties are
not signatories to the same counterpart.

    

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    6. Arbitration.  All claims or disputes
relating in any way to the
performance, interpretation, validity, or breach of this Agreement shall be
referred to final and binding arbitration, before a panel of three arbitrators,
under the commercial arbitration rules of the American Arbitration Association
(the “AAA”) in Miami-Dade County, Florida, except as modified hereby. Each party
shall appoint an arbitrator and the third arbitrator shall be selected by the
two appointed arbitrators within twenty days, following the receipt of written
notice of arbitration, as prescribed by the AAA. In the event that both
appointed arbitrators are unable to select the third arbitrator within a period
twenty days, the AAA shall be permitted to submit an appointment.  The
arbitrator’s award shall be in writing, made by a majority thereof, and include
findings of fact and conclusions of law.  Judgment upon the award
rendered by the arbitrators shall be final, binding and conclusive upon the
parties and their respective administrators, executors, legal representatives,
heirs, successors and permitted assigns.

    

    IN WITNESS WHEREOF, the
parties have caused this Agreement to be duly executed by their respective
officers thereonto duly authorized as of the day and year first above
written.

    

    
      	 
      	
              SANSWIRE
      CORP.

            
	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      
	 
      	
              By:

            	
              /s/
      Jonathan Leinwand

            
	 
      	 
      	
              Name:

            	
              Jonathan
      Leinwand

            
	 
      	 
      	
              Title:

            	
              CEO

            

    

     

    
      	 
      	
              EMPLOYEE:

            
	 
      	 
      
	 
      	
              /s/
      Jonathan Leinwand

            
	 
      	
              Jonathan
      Leinwand

            
	
              Address:   
      

            	
              1619 Presidential
      Way

            
	 
      	
              Miami,
      FL 33179

            

    

     

    
      
         

      

      
        4Third
Amendment

    to
Second Amended and Restated

    Loan
and Subordinated Debenture Purchase Agreement

    

    This
Third Amendment To the Second Amended and Restated Loan And Subordinated
Debenture Purchase Agreement (this “Amendment”), dated March 20th, 2009,
is between JPMorgan Chase Bank, N.A. (“Lender), and German American Bancorp,
Inc., an Indiana Corporation (“Borrower”).

    

    Recitals:

    

    1.           The
parties have entered into that certain Second Amended and Restated Loan and
Subordinated Debenture Purchase Agreement, dated as of December 29, 2006, as
amended by that certain First Amendment, dated September 28, 2007, and that
certain Second Amendment, dated September 30, 2008 (as amended, the “Prior
Amended Loan Agreement”).

    

    2.           The
parties intend to further amend the Prior Amended Loan Agreement in accordance
with the terms and subject to the conditions set forth in this Amendment. As
amended and modified by this Amendment, the Prior Amended Loan Agreement is
referred to as the "Current Amended Loan Agreement."

    

    3.
Capitalized terms used but not otherwise defined in this Amendment shall have
the meanings given in the Prior Amended Loan Agreement.

    

    Agreement:

    

    Now,
Therefore, in consideration of the mutual representations, warranties,
covenants, and agreements, and for other good and valuable consideration, the
receipt and sufficiency of which are acknowledged, the parties agree as
follows:

    

    1.  Amendments.

    

    a.           Section
5.1 (Indebtedness).  The following sentence shall be added to Section
5.1 (Indebtedness).  “Notwithstanding any provision in this Section
5.1 to the contrary, Borrower shall be permitted to borrow up to $30,000,000.00
by issuing subordinated debentures, pursuant to the terms of that certain
Indenture between the Borrower and Wells Fargo National Bank, National
Association, as Trustee, substantially in the form attached as Exhibit 4.3 to
the Borrower's Registration Statement on Form S-3 filed by it with the
Securities and Exchange Commission under the Securities Act of 1933, as amended,
on March 3, 2009 (the "Indenture"), due March 30, 2019, on an unsecured basis,
with interest-only payments semiannually, in arrears, on March 30 and September
30 of each year, beginning September 30, 2009, and principal paid on March 30,
2019, subject to Borrower's ability to redeem the subordinated debentures on or
after March 30, 2012, in accordance with Article III of the Indenture; all such
indebtedness shall be subordinated to the Loans as specified by Article X of the
Indenture.”

    

    

    Third
Amendment

    Second
Amended and Restated

    Loan
and Subordinated Debenture Purchase Agreement

    German
American Bancorp, inc.

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

    b.           Section
7.8 (Notices) shall be amended by replacing the notices provision to the Lender
with the following:

    

    “JPMorgan Chase Bank, N.A.

    10 S. Dearborn, 36th floor

    Chicago, Illinois

    Attention: Janet S. Leong

    Telephone No.: (312)
732-6958

    Fax No: (312) 732-7006

    E-mail Address:
janet.s.leong@chase.com”

    

    2. Representations
and Warranties.

    

    The
Borrower represents and warrants to the Lender as follows:

    

    a.           No
Event of Default has occurred and is continuing (or would result from the
amendments contemplated by this Amendment).

    

    b.           The
execution, delivery and performance by the Borrower of this Amendment have been
duly authorized by all necessary corporate and other action and do not and will
not require any registration with, consent or approval of, or notice to or
action by any Person (including any Governmental Agency) to be effective and
enforceable.

    

    c.           This
Amendment and the other Loan Documents (as amended by this Amendment) constitute
the legal, valid and binding obligations of the Borrower, enforceable against
the Borrower in accordance with their respective terms.

    

    Third
Amendment

    Second
Amended and Restated

    Loan
and Subordinated Debenture Purchase Agreement

    German
American Bancorp, inc.

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    d.           All
representations and warranties of the Borrower in the Prior Amended Loan
Agreement are true and correct, except, for the purposes of this Amendment only,
all references in (a) Section 3.4.2 (Subsidiaries) to “September 30, 2006” shall
instead refer to “December 31, 2008”, (b) Section 3.4.3 (Financial Statements)
and in Section 3.4.9 (Restriction) to “December 31, 2005” shall instead refer to
“December 31, 2008”, and “September 30, 2006” shall instead refer to “December
31, 2008”, and (c) Section 3.4.11 (Reserve for Possible Loan and Lease Losses)
references to “September 30, 2006” shall instead refer to “December 31,
2008”.

    

    e.           As
of the date of this Amendment, the Borrower's obligations under the Prior
Amended Loan Agreement and under the other Loan Documents are not subject to any
defense, counterclaim, set-off, right to recoupment, abatement or other
claim.

    

    3.  Conditions.

    

    a.           Notwithstanding
anything to the contrary contained elsewhere in the Current Amended Loan
Agreement, the obligation of the Lender to agree to the modifications
contemplated by this Amendment shall be subject to the performance by the
Borrower prior to the date on which this Amendment is executed of all of its
agreements to have been performed under the Prior Amended Loan Agreement. The
obligations to continue to make disbursements of proceeds under the Loans are,
and shall remain, subject to the conditions precedent (a) set forth in the Prior
Amended Loan Agreement, (b) that the representations and warranties set forth in
this Amendment be true, accurate and complete as of the date of this Amendment,
and (c) that Borrower shall have fully complied with all of its promises and
covenants set forth in this Amendment.

    

    b.           In
addition to other conditions set forth in this Amendment and the Prior Amended
Loan Agreement, including, without limitation, those applicable to the making of
Loans, the obligations of the Lender under the Current Amended Loan Agreement
shall be subject to the performance by the Borrower of all of its agreements to
have been performed under the Current Amended Loan Agreement and to the receipt
of the following, duly executed and dated the date of this  amendment,
and in form and substance satisfactory to the Lender and its counsel: a copy,
certified by the Secretary or Assistant Secretary of the Borrower, of its Board
of Directors' resolutions authorizing the execution, delivery, and performance
of this Amendment and the Current Amended Loan Agreement;

    

    c.           Borrower
shall pay or reimburse Lender for all of its reasonable out-of-pocket costs,
expenses and attorneys’ fees incurred in connection with this Amendment, and the
consummation of the transactions contemplated hereby, as agreed by the
parties.

    

    Third
Amendment

    Second
Amended and Restated

    Loan
and Subordinated Debenture Purchase Agreement

    German
American Bancorp, inc.

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    4. Additional
Terms.

    

    a.           Acknowledgment of Indebtedness under
the Prior Amended Loan Agreement. The Borrower acknowledges, confirms and
affirms it obligations and indebtedness to the Lender, as of the date of this
Amendment without defense, setoff, or counterclaim, in the aggregate principal
amounts provided for in the Loan Documents, including the Notes.  The
execution, delivery and effectiveness of this Amendment shall not operate as a
waiver of any right, power or remedy of the Lender under the Prior Amended Loan
Agreement or the Loan Documents, nor constitute a waiver of any provision
continued in such documents, except as specifically set forth in this
Amendment.

    

    b.           The Current Amended Loan
Agreement. All references in the Loan Documents and the Prior Amended
Loan Agreement to the term "Agreement" shall be deemed to refer to the Current
Amended Loan Agreement.

    

    c.           Amendment and Prior Amended Loan
Agreement. This Amendment supplements and is by this Amendment made a
part of the Prior Amended Loan Agreement, and the Prior Amended Loan Agreement
and this Amendment from and after the date of this Amendment shall together
constitute the Current Amended Loan Agreement.  Except as otherwise
set forth in this Amendment, the Prior Amended Loan Agreement shall remain in
full force and effect.

    

    d.           Counterparts. This Amendment
may be executed by facsimile and in one or more counterparts, each of which
shall be deemed an original and all of which taken together shall constitute one
and the same document.

    

    e.           Acknowledgments. The Borrower
acknowledges that (i) it has been advised by  counsel of its choice
with respect to this Amendment, the Loan Documents and the transactions
contemplated by this Amendment, and (ii) the obligations of the Lender hereunder
shall be strictly construed and shall be expressly subject to the Borrower's
compliance in all respects with the terms and conditions of the Current Amended
Loan Agreement.

    

    [signature
page follows]

    

    Third
Amendment

    Second
Amended and Restated

    Loan
and Subordinated Debenture Purchase Agreement

    German
American Bancorp, inc.

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

    

    In
Witness
Whereof, the parties have executed this Amendment as of the date first
written above.

    

    JPMorgan
Chase Bank, N.A.

    

    
      
        	
                By:

              	
                /s/ Janet S. Leong

              
	 
      	
                  Janet
      S. Leong

              
	
                Title: 

              	
                Senior
      Vice President

              

      

    

    

    German
American Bancorp, Inc.

    

    
      
        	
                By:

              	
                /s/ Bradley M. Rust

              
	 
      	
                  Bradley
      M. Rust

              
	
                Title: 

              	
                Executive
      Vice President and Chief Financial
Officer

              

      

    

    

    Third
Amendment

    Second
Amended and Restated

    Loan
and Subordinated Debenture Purchase Agreement

    German
American Bancorp, inc.

    
      
         

      

      
        5

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