Document:

EX-10.1

 Exhibit 10.1 

EXECUTION COPY 
 AMENDMENT NO. 6

 Dated as of September 13, 2016 

to 
 LOAN AND SECURITY AGREEMENT

 Dated as of December 12, 2008 

THIS AMENDMENT NO. 6 (this “Amendment”) dated as of September 13, 2016 is entered into by and among TAXI MEDALLION LOAN
TRUST III, a Delaware statutory trust (the “Borrower”), MEDALLION FUNDING LLC (successor by merger to Medallion Funding Corp.), a New York limited liability company (the “Transferor”), MEDALLION FINANCIAL CORP., a
Delaware corporation (“Parent”), MEDALLION CAPITAL, INC., a Minnesota corporation (“Medallion Capital”), FRESHSTART VENTURE CAPITAL CORP., a New York corporation (“Freshstart” and, together with the
Borrower, the Transferor, Parent and Medallion Capital, the “MF/Borrower Related Parties”), AUTOBAHN FUNDING COMPANY LLC, a Delaware limited liability company (the “Conduit Lender”), and DZ BANK AG DEUTSCHE
ZENTRAL-GENOSSENSCHAFTSBANK, FRANKFURT AM MAIN, as agent (in such capacity, the “Agent”) and as committed lender (in such capacity, the “Committed Lender”). 

PRELIMINARY STATEMENTS 
 A.
Reference is made to the Loan and Security Agreement dated as of December 12, 2008 among the Borrower, the Committed Lender, the Conduit Lender and the Agent (as amended by Amendment No. 1 thereto dated as of August 5, 2009, Amendment
No. 2 dated as of April 29, 2010, Omnibus Amendment, dated as of December 12, 2013, Amendment No. 4 dated as of December 28, 2015 (“Amendment No. 4”), Amendment No. 5 dated as of June 16, 2016
and as further amended, restated, supplemented or otherwise modified from time to time, the “Loan Agreement”). Capitalized terms used and not otherwise defined herein shall have the meanings ascribed to them in the Loan Agreement.

 B. The parties hereto have agreed to amend the Loan Agreement on the terms and conditions hereinafter set forth. 

NOW, THEREFORE, in consideration of the premises set forth above, and other good and valuable consideration the receipt and sufficiency of
which is hereby acknowledged, the parties hereto agree as follows: 
 SECTION 1. Amendments. Effective as of the Effective Date (as
defined below), the Loan Agreement is hereby amended as follows: 
 1.1 Section 1.01 of the Loan Agreement is hereby
amended by adding the following defined term in the appropriate alphabetical location: 
 “Specified Event”
means the Parent or the Transferor shall make any optional payment or prepayment of principal with respect to any Indebtedness of the Parent or Transferor secured by taxicab medallion loans (other than the Secured Obligations) prior to the maturity
date, therefor unless the Borrower makes a prepayment on the Secured Obligations in a pro rata amount relative to such other Indebtedness (which pro rata amount shall be determined based on the relative unpaid principal balances of such other
Indebtedness and the Secured Obligations). 

 1.2 Section 2.09(b) of the Loan Agreement is hereby amended and restated in
its entirety to read as follows: 
 “(b) If, on any Business Day the Facility Amount shall exceed the Maximum Facility
Amount, then, the Borrower shall remit to the Agent, prior to any Borrowing and in any event no later than the close of business of the Agent on the second succeeding Business Day, a payment (to be applied by the Agent to repay Advances) in such
amount as may be necessary to reduce the Facility Amount to an amount less than or equal to the Maximum Facility Amount.” 

1.3 Section 6.01(b) of the Loan Agreement is hereby amended and restated in its entirety to read as follows: 

“(b) [RESERVED]; or” 

1.4 Section 6.01(m) of the Loan Agreement is hereby amended and restated in its entirety to read as follows: 

“(m) the occurrence of any Specified Event at any time while a Termination Event, a Default, an Event of Default or a
Borrowing Base Deficiency is continuing or would result from the occurrence of such Specified Event;” 
 1.5
Section 6.02(g) of the Loan Agreement is hereby amended and restated in its entirety to read as follows: 
 “(g) as
at the end of any Monthly Period, the average of the Default Rates for such Monthly Period and the immediately preceding three Monthly Periods shall exceed 9.0%;” 

1.6 Clause (c) on Schedule I to the Loan Agreement is hereby amended and restated in its entirety to read as follows: 

“(c) (i) The Medallion Loan and other Medallion Loan Documents have not been extended, restructured, waived, amended or
otherwise modified except (A) in accordance with the Credit and Collection Policy or (B) as otherwise approved by the Agent; (ii) neither such Medallion Loan nor the related Medallion Loan Documents have been extended, restructured,
waived, amended or otherwise modified at any time as a result of a delinquency or default or for any other credit related reason in a manner to extend the maturity, reduce the interest rate, reduce the monthly payment amount or reduce the principal
balance of such Mortgage Loan except as approved by the Agent; provided that a Medallion Loan that has been extended, restructured, waived, amended or otherwise modified will not be an Eligible Medallion Loan if at the time of or on either of
the two due dates immediately preceding such extension, restructuring, waiver, amendment or modification, any payment under such Medallion Loan was past due for one or more days; provided further that this clause (c)(ii) shall be deemed
satisfied if (w) such Medallion Loan has matured and is in the process of being refinanced, (x) no more than 60 days shall have elapsed since the maturity date of such Medallion Loan (without giving effect to any extensions, waivers or
other modifications to such maturity date), (y) the Obligor has paid in full all monthly payments due on such Medallion Loan (determined as if the maturity date had not occurred and the monthly payments due during such 60 day period were the
same as the monthly payments due prior to such period, but otherwise without giving effect to any extensions, waivers or other 

  
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modifications to such Medallion Loan) and (z) such Medallion Loan would satisfy this clause (c)(ii) (without giving effect to this proviso) but for the occurrence of such maturity date; and
(iii) the Agent shall be notified of any material change to the Credit and Collection Policy and shall have the right to declare ineligible any Medallion Loans originated or modified under such revised Credit and Collection Policy.” 

1.7 Schedule I to the Loan Agreement is hereby amended by adding the following clause (kkk): 

“(kkk) such Medallion Loan is deemed an Eligible Medallion Loan by the Agent for any reason in its sole discretion.”

 SECTION 2. Release. Each of the MF/Borrower Related Parties hereby acknowledges and confirms on its own behalf and on behalf of
its officers and directors, and its respective predecessors, successors, assigns, agents and other legal representatives, and any Person claiming by or through any of them (collectively, the “Releasors”), that (i) it does not
have any grounds, and hereby agrees not to challenge (or to allege or to pursue any matter, cause or claim arising under or with respect to), in any case based upon acts or omissions of any Lender, Agent or any other Indemnified Party occurring
prior to the date hereof or facts otherwise known to it as of the date hereof, the effectiveness, genuineness, validity, collectability or enforceability of the Loan Documents and (ii) it does not possess, and hereby unconditionally and forever
waives, remises, releases, discharges and holds harmless each Lender, Agent and any other Indemnified Party, and each of their respective affiliates, stockholders, directors, officers, employees, attorneys, agents, representatives, heirs, executors,
administrators, successors and assigns, each Person acting or purporting to act for them or on their behalf, and the successors and assigns of any such Persons (collectively, the “Designated Parties”), from and against, and agrees
not to allege or pursue, any action, cause of action, suit, debt, liability, loss, expense, claim, counterclaim, cross-claim, demand, defense, offset, opposition, demand and other right of action whatsoever, whether now known or unknown, past or
present, asserted or unasserted, contingent or liquidated, whether in law, equity or otherwise, which any of the Releasors ever had, now have, may have, or claim to have against any of the Designated Parties, by reason of any matter, cause or thing
whatsoever, with respect to events or omissions occurring or arising on or prior to the date hereof and relating to the Loan Documents, any transaction relating thereto, or any actions or omissions in connection therewith (collectively, the
“Claims”). The foregoing release shall be construed in the broadest sense possible. 
 The MF/Borrower Related Parties
warrant and represent that they are the sole and lawful owners of all right, title, and interest in and to every Claim being released hereby and they have not assigned, pledged, hypothecated, or otherwise divested or encumbered all or any part of
any Claim being released hereby. The MF/Borrower Related Parties hereby agree to indemnify, defend, and hold harmless any and all of the Releasees from and against any Claims asserted against any Releasee based on, or arising in connection with, any
such prior assignment or transfer, whether actual or purported. The MF/Borrower Related Parties hereby absolutely, unconditionally, and irrevocably agree never to commence, prosecute, cause to be commenced or prosecuted, voluntarily aid in any way,
or foment any suit, action, or other proceeding (at law, in equity, in any regulatory proceeding, or otherwise) or otherwise seek any recovery against any of the Releasees based on any of the Claims being released hereby. The MF/Borrower Related
Parties hereby specifically warrant, represent, acknowledge, and agree that: (a) none of the provisions of this general release shall be construed as or constitute an admission of any liability on the part of any Releasee; and (b) the
provisions of this general release shall constitute an absolute bar to any Claim of any kind, whether any such Claim is based on contract, tort, warranty, mistake, or any other theory, whether legal, statutory, or equitable. 

  
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 SECTION 3. Condition Precedent. This Amendment shall become effective as of the date on
which the Agent has received the following agreements and deliverables and shall be deemed effective by the parties hereto as of June 30, 2016 (the “Effective Date”): 

3.1 a copy of this Amendment duly executed by the Borrower, the Conduit Lender, the Committed Lender, the Transferor and
Parent; 
 3.2 a copy of a Transfer Agreement duly executed by the Parent and Medallion Funding evidencing the transfer to
Medallion Funding of the Medallion Loans listed on Schedule I hereto pursuant to the Medallion Financial Loan Sale Agreement dated as of December 12, 2008 between Medallion Funding and the Parent; 

3.3 a copy of a Transfer Agreement duly executed by Medallion Funding and the Borrower evidencing the transfer to the Borrower
of the Medallion Loans listed on Schedule I hereto pursuant the Purchase Agreement; 
 3.4 a copy of the Pledge Agreement
duly executed by the Parent and the Agent evidencing the pledge of the Medallion Loans listed on Schedule II hereto to secure the Secured Obligations; 

3.5 a copy of a UCC-1 financing statement for filing against the Parent in the office of the Secretary of State of the State of
Delaware in connection with the Pledge Agreement referenced in Section 3.4 above; and 
 3.6 such other agreements and
deliverables as the Agent may reasonably request in connection with the Pledge Agreement referenced in Section 3.4 above. 
 SECTION 4.
Reference to and Effect on the Loan Agreement. 
 4.1 Upon the effectiveness of this Amendment, each reference in the Loan Agreement
to “this Agreement,” “hereunder,” “hereof,” “herein,” “hereby” or words of like import shall mean and be a reference to the Loan Agreement as amended hereby, and each reference to the Loan Agreement
in any other document, instrument and agreement executed and/or delivered in connection with the Loan Agreement shall mean and be a reference to the Loan Agreement as amended hereby 

4.2 Except as specifically provided herein, the Loan Agreement, the other Loan Documents 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. 
 4.3 The
execution, delivery and effectiveness of this Amendment shall not operate as a waiver of any right, power or remedy of the Agent, the Conduit or the Committed Lender under the Loan Agreement, the other Loan Documents or any other document,
instrument, or agreement executed in connection therewith, nor constitute a waiver of any provision contained therein. 
 SECTION 5.
Governing Law. THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK (INCLUDING SECTION 5-1401 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK BUT OTHERWISE WITHOUT REGARD TO
CONFLICTS OF LAW PRINCIPLES). 

  
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 SECTION 6. Execution in 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 and delivered shall be deemed to be an original and all of which taken together shall constitute but one and the same instrument. Delivery of an
executed counterpart of this Amendment by facsimile or electronic mail shall be effective as delivery of a manually executed counterpart of this Amendment. 

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. Refinancing of Medallion Loans Constituting Collateral. The Borrower
and the Servicer may from time to time refinance Medallion Loans constituting Collateral with the proceeds of new Medallion Loans in accordance with the terms of clause (c) of Schedule I to the Loan Agreement. The new Medallion Loans will be
secured by the same Medallions that secure the Medallion Loans that constitute Collateral but may, subject to the terms of clause (c) of Schedule I to the Loan Agreement, have different Obligors and/or payment terms. In any such case, the
Borrower will be the named holder of the Medallion Loan arising after the occurrence of such refinancing transaction, it being understood that the Borrower will not be engaged in the origination of such refinanced Medallion Loan (instead only the
Servicer as the servicer of the Collateral). If and to the extent the Borrower may not be the initial named holder of the any such new Medallion Loan because of licensing or other regulatory limitations or restrictions, the Servicer will originate
such Medallion Loan in its own name and will be deemed to immediately transfer, without any action by any Person, such Medallion Loan to the Borrower. In such case (i) the Servicer will not hold any beneficial interest in such Medallion Loan at
any time (and instead all of the interest in such Medallion Loan will be held by the Borrower and pledged to the Agent, for the benefit of the Secured Parties, as Collateral) and (ii) the Servicer will execute and deliver to the Agent and the
Borrower documentation to evidence the transfer of any interest of the Servicer in such Medallion Loan to the Borrower after the origination thereof. Each Medallion Loan arising after the occurrence of such refinancing transaction, all related
Medallion Loan Documents, all Collections thereon and all other products and proceeds thereof, in each case, whether now existing or hereafter arising, shall constitute “Collateral” for purposes of the Loan Documents. 

SECTION 9. Servicing Agreement. The definition of “Medallion Funding Net Income” set forth in the Loan Agreement was amended
and restated pursuant to Amendment No. 4. The parties hereto intended to amend and restated the definition of “Servicer Net Income” set forth in the Servicing Agreement on the effective date of Amendment No. 4 to make changes
consistent with those changes to Medallion Funding Net Income. For the avoidance of doubt, the parties hereto agree that, effective as of the “Effective Date” of Amendment No. 4, the definitions of “Servicer Net Income” set
forth in Section 1.01 of the Servicing Agreement was amended and restated in its entirety to read as follows: 

“Servicer Net Income” means, with reference to any period, the net income (or loss) of the Servicer and its
Subsidiaries calculated on a consolidated basis for such period in accordance with GAAP (without giving effect to any unrealized gains or losses). 

[Remainder of page intentionally left blank] 

  
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 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their
respective signatories thereunto duly authorized as of the date first written above. 

			
	TAXI MEDALLION LOAN TRUST III, as Borrower
		
	By	 	/s/ Andrew M. Murstein
	Name: Andrew M. Murstein
	Title: President

 Signature Page to 

Amendment No. 6 to Loan and Security Agreement 

 
			
	MEDALLION FINANCIAL CORP.
		
	By	 	/s/ Alvin Murstein
	Name: Alvin Murstein
	Title: Chairman & Chief Executive Officer

  

			
	MEDALLION CAPITAL, INC.
		
	By	 	/s/ Dean Pickerell
	Name: Dean Pickerell
	Title: Acting President

  

			
	FRESHSTART VENTURE CAPITAL CORP.
		
	By	 	/s/ Alvin Murstein
	Name: Alvin Murstein
	Title: Chairman & Chief Executive Officer

 Signature Page to 

Amendment No. 6 to Loan and Security Agreement 

  

			
	 DZ BANK AG DEUTSCHE

ZENTRAL-GENOSSENSCHAFTSBANK, FRANKFURT AM MAIN, as Agent and as the Committed Lender

		
	By	 	/s/ Jayan Krishnan
	Name: Jayan Krishnan
	Title: Director

  

			
	By	 	/s/ Franziska Hummel
	Name: Franziska Hummel
	Title: Vice President

  

			
	AUTOBAHN FUNDING COMPANY LLC, as the Conduit Lender
	
	 By: DZ BANK AG DEUTSCHE

ZENTRAL-GENOSSENSCHAFTSBANK,
 FRANKFURT AM MAIN, its
Attorney-in-Fact

  

			
	By	 	/s/ Jayan Krishnan
	Name: Jayan Krishnan
	Title: Director

  

			
	By	 	/s/ Franziska Hummel
	Name: Franziska Hummel
	Title: Vice President

 Signature Page to 

Amendment No. 6 to Loan and Security Agreement 

 The undersigned hereby (i) acknowledges and agrees to the foregoing Amendment, (ii) reaffirms all of
its obligations under the Limited Recourse Guaranty and the other Loan Documents to which it is a party and (iii) acknowledges and agrees that the Limited Recourse Guaranty and such other Loan Documents remain in full force and effect. 

 

			
	MEDALLION FUNDING LLC
		
	By	 	/s/ Alvin Murstein
	Name: Alvin Murstein
	Title: Chairman & Chief Executive OfficerExhibit

Exhibit 10.1

CONSULTING AGREEMENT
This Consulting Agreement (the “Agreement”) is dated as of September 16, 2016, by and between Methode Electronics, Inc., a Delaware corporation (the “Company”), and Douglas A. Koman (the “Consultant”).
WHEREAS, the Consultant is the former Chief Financial Officer of the Company and has retired from the Company as of September 15, 2016; and
WHEREAS, the Company has requested that Consultant provide such services as the Company may reasonably request from time to time in connection with the transition of the chief financial officer responsibilities (the “Services”); and
WHEREAS, the Consultant has agreed to provide such Services, upon the terms and subject to the conditions contained in this Agreement.
NOW, THEREFORE, it is hereby agreed by and between the parties, for good and valuable consideration the receipt and sufficiency of which are hereby acknowledged, as follows:
1.Engagement.  The Company hereby retains Consultant to perform, and Consultant hereby agrees to perform, upon the terms and conditions contained herein, the Services.  Consultant will provide the Services from time to time as reasonably requested by the Company’s Chief Executive Officer or Chief Financial Officer.  Consultant represents and warrants to the Company that all of the Services will be provided in a competent, professional and timely manner, and that Consultant will comply with all applicable laws in performing the Services.
2.Compensation.  Consultant will be paid Two Hundred and Fifty Dollars ($250) per hour for the provision of any Services.
3.Term and Termination.  Except as otherwise provided herein, the term of this Agreement shall commence as of the date hereof and shall terminate on July 28, 2017.  The Company may terminate this Agreement upon written notice to Consultant if Consultant fails in any material respect to perform his obligations under this Agreement or any other agreement, contract or undertaking to which Company and Consultant are party, and such failure is not remedied by Consultant within five (5) days of written notice from Company.
4.Confidential Information.  Consultant recognizes and acknowledges that in the course of performing the Services for Company, Consultant may have access to non-public, confidential and proprietary information concerning the business, operations and/or assets of Company or its affiliates, including by way of example and not limitation, financial information, customer, client, advertiser and supplier information, price information, methods of operation, products, business and marketing plans, marketing materials, prospects, databases, personnel information, web site information, software, passwords, business procedures and manuals, analyses, proposals, compilations, studies, and other documents or work product prepared by or owned by Company which contain or otherwise reflect such information.  All such information is hereinafter collectively referred to as “Confidential Information.”  Confidential Information shall also include all parts or copies of such information, and any information derived therefrom, but shall not include information, if any, which is or becomes a part of the public domain through no act or omission of Consultant. Consultant agrees that he will at all times keep in strict confidence, both during the term of this Agreement and subsequent to termination of this Agreement, and will not during the term of this Agreement or thereafter disclose or divulge to any person, firm or corporation, or use directly or indirectly, for its own benefit or the benefit of others, any Confidential Information.  Consultant will not permit any person other than Company, its authorized agents or representatives, to examine and/or make copies of any Confidential Information prepared by Consultant or that come into Consultant’s possession or under Consultant’s control by reason of Consultant’s Services hereunder.  Consultant will employ at least the same degree of care in protecting Confidential Information as he employs in protecting his own most confidential information, but not less than a reasonable degree of care.  Upon termination of this Agreement, or at any time at the request of Company, Consultant will turn over to Company all copies of documents, papers, disks, and other printed and electronic matter in its possession or under its control that constitute or contain Confidential Information, or are owned by Company.  In the event Consultant receives a subpoena or other validly issued administrative or judicial process requesting the disclosure Confidential Information, Consultant shall promptly notify Company and tender to it the defense of such demand.

Exhibit 10.1

5.Ownership Rights; Work Made for Hire.  As between Company and Consultant, Consultant agrees that work product, deliverables and other materials provided by Consultant hereunder, including all intellectual property rights therein, which Consultant makes, conceives or reduces to practice, either solely by Consultant or jointly with others and either on or off Company’s premises, in performing the Services for Company (“Work Product”) shall be considered to be “work made for hire” under the U.S. Copyright Act, 17 U.S.C. §101 et seq., and shall be owned exclusively by Company.  If for any reason exclusive ownership of all Work Product is not fully and effectively vested in Company by the preceding terms, Consultant hereby assigns to Company, and will in the future upon Company’s request confirm in writing such assignment to Company, all right, title and interest Consultant may have in all portions and aspects of such Work Products or portions thereof.
6.Injunctive Relief.  Consultant acknowledges and agrees that any breach by Consultant of Section 4 or 5 of this Agreement will give rise to irreparable injury to Company and, because of the difficulty of ascertaining the amount of damages that would be suffered by Company in connection therewith, money damages would be an inadequate remedy therefor. Therefore, Consultant agrees that Company shall be entitled to equitable relief, including injunction and specific performance, in the event of any breach of the provisions of Section 4 or 5 by Consultant, in addition to all other remedies available to Company at law or in equity.  Consultant further acknowledges and agrees that the covenants contained herein are necessary for the protection of Company’s legitimate business interests and are reasonable in scope and content.
7.Independent Contractor.  It is expressly agreed and understood that Consultant’s relationship to Company shall be that of an independent contractor.  Nothing contained in this Agreement shall be construed to constitute Consultant an employee or agent of Company, nor shall either party have the authority to bind the other in any respect.  
8.Right of Set-Off.  In the event the Consultant is required to pay any amount to the Company pursuant to any Company Clawback Policy, then any such amount may be offset against amounts to be paid by the Company to Consultant pursuant to this Agreement.
9.Waiver of Modification.  No waiver, alteration or modification of any of the terms of this Agreement shall be valid unless in writing and signed by the parties.
10.Assignment.  This Agreement shall be binding upon and shall inure to the benefit of the successors and assignees of Company.  The obligations and rights of Consultant under this Agreement are personal to him and shall not be subject to voluntary or involuntary alienation, assignment or transfer.
11.Entire Agreement.  Consultant acknowledges and agrees that his post-employment obligations under that certain Employee Confidentiality and Assignment of Inventions Agreement shall be in addition to his obligations under this Agreement.  This Agreement together with such Employee Confidentiality and Assignment of Inventions Agreement shall constitute the entire agreement between the parties hereto with respect to the subject matter hereof.
12.Governing Law.  This Agreement and the rights and obligations to the parties hereto shall be interpreted and enforced in accordance with and governed by the laws of the State of Illinois, United States of America (without giving effect to the conflicts of laws principles thereof).  The parties hereby covenant and agree that any and all actions arising out of or related to this Agreement shall be brought and maintained in a federal or state court sitting in Cook County, Illinois.  Each party hereby irrevocably submits to the exclusive jurisdiction and service of process from said courts for any and all such actions.
13.Severability.  Every provision of this Agreement is intended to be severable.  If any term or provision hereof is illegal or invalid for any reason whatsoever, such term or provision will be enforced to the maximum extent permitted by law and, in any event such illegality or invalidity shall not affect the validity of the remainder of the Agreement.

Exhibit 10.1

IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the day and year first written above.
METHODE ELECTRONICS, INC.
By:                            
Donald W. Duda
Its:    Chief Executive Officer

CONSULTANT:
By:                        
Name: Douglas A. Koman

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