Document:

Unassociated Document

     

    September 3,
2009

     

     

    ClearPoint
Business Resources, Inc.

    1600
Manor Drive

    Suite
110

    Chalfont,
PA  18914

     

    
      	
              Re:

            	
              Debt Extension
      Agreement Amendment

            

    

     

    Dear
Sirs:

     

    Reference
is made to the Promissory Note dated as of August 14, 2006 in the original
principal amount of $450,000 issued by ClearPoint Business Resources, Inc.
(“ClearPoint”) to Shareholders of Staffbridge, Inc. (“Lender”), as amended by
that certain Amendment to Note dated December 31, 2007 further amended by
the Debt Extension Agreement dated June 30, 2008 and subsequently the Debt
Extension Agreement date December 31, 2008 for the balance due for work
performed as a contractor to ClearPoint by Lender (the “Note”).

     

    Lender
hereby agrees to further amend the Note as follows.  The current
outstanding balance of the Note of $177,517.50 shall be paid according it to the
following schedule:  (i) monthly payments of 16,137.95 commencing
February 15, 2010, (ii) Accrued but unpaid interest as of August 31,
2009 amounting to $4,732 plus interest for the period of September 1, 2009
through January 31, 2010 of $5,915 will be paid monthly in the amount of
$967.91 commencing February 15, 2010 in addition to amounts stated in (i)
above.

     

    This
agreement shall be binding upon and inure to the benefit of the successors and
permitted assigns of the Lender and the addresses hereof.  This
Agreement may not be amended of modified, nor any provision hereof be waived,
without the prior written consent of the party to be charged therewith. This
Agreement shall be governed by and construed in accordance with the laws of the
Commonwealth of Pennsylvania.

     

     

    [SIGNATURES
ON FOLLOWING PAGE]

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      
        	 	Very
      truly yours,	 
	 	 	 
	 	 	 
	 	SHAREHOLDER OF
      STAFFBRIDGE	 
	 	 	 	 
	 	 	 	 
	
              	
                By:
      

              	/s/
      Scott Nieh	 
	 	 	Name:  Scott
      Nieh	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	SHAREHOLDER
      OF STAFFBRIDGE	 
	 	 	 	 
	 	 	 	 
	 	By:	/s/
      Nigel Liu	 
	 	 	Name:  Nigel
      Liu	 

      

    

    

     

    Acknowledged
and Agreed:

     

    
      
        
          	ClearPoint
      Resources, Inc.	 	 	 	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	By:	/s/ John G.
      Phillips	 	 	
                	 
	 	
                  Name:  John
      G. Phillips

                	 	 	
                	 
	 	
                  
                    Title:  CFO

                  

                	 	 	
                	 

      

    

    
      [SIGNATURE
PAGE TO DEBT EXTENSION AGREEMENT DATED September 3, 2009]Unassociated Document

     

    Exhibit
4.1

    

    September
14, 2009

    

    Wegener
Communications, Inc.

    11350
Technology Circle

    Duluth,
Georgia  30155

    

    Re:  Eleventh
Amendment

    

    Gentlemen:

    

    Wegener Communications, Inc.,
a Georgia corporation ("Borrower") and Bank of America, N.A.,
successor interest by merger to LaSalle Bank National Association, a national
banking association ("Bank"), have entered into that
certain Loan and Security Agreement dated June 5, 1996 (the "Security
Agreement").  From time to time thereafter, Borrower and Bank
may have executed various amendments (each an "Amendment" and collectively
the "Amendments") to the
Security Agreement (the Security Agreement and the Amendments hereinafter are
referred to, collectively, as the "Agreement").  Borrower
and Bank now desire to further amend the Agreement as provided herein, subject
to the terms and conditions hereinafter set forth.

    

    NOW,
THEREFORE, in consideration of the foregoing recitals, the mutual covenants and
agreements set forth herein and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto
hereby agree as follows:

    

    1.           The
Agreement hereby is amended as follows:

    

    (a)           The
first two (2) grammatical sentences of Paragraph 9 of the Agreement are deleted
in their entirety and the following is substituted in their place:

    

    
      	
               
      

            	
              9.

            	
              TERMINATION:  This
      Agreement shall be in effect from the date hereof until November 30, 2009 (the
      "Original Term") unless (a) Bank makes demand for repayment prior to the
      end of the Original Term; (b) the due date of the Liabilities is
      accelerated pursuant to paragraph 13 hereof; or (c) Borrower prepays all
      of the Liabilities prior to the end of the Original Term and by paying all
      of the Liabilities in full on the last day of such
  term.

            

    

    

    (b)           Paragraph
(1) of Exhibit A of the Agreement is deleted in its entirety and the following
is substituted in its place:

    

    
      	
               
      

            	
              (1)

            	
              LOAN LIMITS: Bank may,
      in its sole discretion, advance an amount up to the sum of the following
      sublimits (the “Loan Limit”):

            

    

    

    
      	
               
      

            	
              (a)

            	
              Subject
      to subparagraph (4)(a) of this Exhibit A, up to eighty percent (80%) of
      the face amount (less maximum discounts, credits and allowances which may
      be taken by or granted to Account Debtors in connection therewith) of
      Borrower’s Eligible Accounts; plus

            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      	
               
      

            	
              (b)

            	
              Subject
      to subparagraph (4)(b) of this Exhibit A, up to eighty percent (80%) of
      the face amount (less maximum discounts, credits and allowances which may
      be taken by or granted to Account Debtors in connection therewith) of
      Borrower’s Eligible Accounts or Five Hundred Thousand and No/100 Dollars
      ($500,000.00), whichever is less; plus

            

    

    

    
      	
               
      

            	
              (c)

            	
              Subject
      to subparagraph (5)(a) of this Exhibit A, up to twenty percent (20%) of
      the lower of the cost or market value of Borrower’s Eligible Inventory;
      plus

            

    

    

    
      	
               
      

            	
              (d)

            	
              Subject
      to subparagraph (5)(b) of this Exhibit A, up to twenty percent (20%) of
      the lower of the cost or market value of Borrower’s Eligible Inventory;
      plus

            

    

    

    
      	
               
      

            	
              (e)

            	
              Subject
      to subparagraph (5)(c) of this Exhibit A, up to forty percent (40%) of the
      lower of the cost or market value of Borrower’s Eligible Inventory; plus

            

    

    

    
      	
               
      

            	
              (f)

            	
              Subject
      to subparagraph (5)(d) of this Exhibit A, up to fifty percent (50%) of the
      lower of the cost or market value of Borrower’s Eligible Inventory; plus

            
	 	 	 

    

    
      	
               
      

            	
              (g)

            	
              Up
      to One Million and No/100 Dollars ($1,000,000.00) as a special
      accommodation; provided, however, the advances requested by Borrower under
      this subparagraph (1)(g) shall be made by Bank only if there is
      insufficient availability under subparagraphs (1)(a), (1)(b), (1)(c),
      (1)(d), (1)(e), and (1)(f) of this Exhibit A; plus

            

    

    

    
      	
               
      

            	
              (h)

            	
              Up
      to fifty percent (50%) against the face amount of commercial Letters of
      Credit issued by Bank for the purpose of purchasing Eligible Inventory;
      provided, that such commercial Letters of Credit are in form and substance
      satisfactory to Bank; plus

            

    

    

    
      	
               
      

            	
              (i)

            	
              Up
      to Five Hundred Thousand and No/100 Dollars ($500,000.00) as a special
      accommodation; provided, however, the advances requested by Borrower under
      this subparagraph (1)(i) shall be made by Bank only if (i) there is
      insufficient availability under subparagraphs (1)(a), (1)(b), (1)(c),
      (1)(d), (1)(e), and (1)(f) of this Exhibit A, and (ii) Bank has received a
      fully executed asset purchase agreement or merger agreement satisfactory
      to Bank, in Bank’s reasonable business judgment, for the sale or merger of
      Borrower to or into a third-party purchaser; minus

            

    

    

    
      	
               
      

            	
              (j)

            	
              Such
      reserve as Bank elects, in its sole discretion, to establish from time to
      time;

            

    

    

    provided,
that the aggregate amount of Loans made pursuant to subparagraphs (1)(c),
(1)(d), (1)(e), (1)(f) and 1(h) of this Exhibit A shall in no event exceed Four
Million and No/100 Dollars ($4,000,000.00);

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    further
provided, that the aggregate Loan Limit shall in no event exceed Four Million and No/100 Dollars
($4,000,000.00), except as such amount may be increased or decreased by
Bank, in its sole discretion, from time to time.

    

    (c)           Paragraph (6) of Exhibit A of the
Agreement is deleted in its entirety and the following is substituted in its
place:

    

    
      
        	
              	
                (6)

              	
                INTEREST RATE:   (i)
      All Loans made pursuant to subparagraphs (1)(a), (1)(b), (1)(c), (1)(d),
      (1)(e), (1)(f), (1)(g), (1)(h) and (1)(i) of this Exhibit A shall bear
      interest at Two percent (2.00%) per annum in excess of Bank's publicly
      announced prime rate (which is not intended to be Bank's lowest or most
      favorable rate in effect at any time) (the "Prime Rate") in effect from
      time to time Interest shall be payable on the last business day of each
      month, in arrears. Each rate of interest set forth herein shall increase
      or decrease with each increase of decrease in the Prime Rate, effective on
      the effective date of each such change in the Prime Rate.  Upon
      the occurrence of an Event of Default and the continuance thereof, each
      Loan shall bear interest at the rate of two percent (2%) per annum in
      excess of the interest rate otherwise payable thereon, which interest
      shall be payable on demand. All interest shall be calculated upon the
      basis of a 360 day year.

              

      

    

    

    2.           This
Amendment is subject to Bank receiving, on or before October 15, 2009, a fully
executed asset purchase agreement or merger agreement satisfactory to Bank, in
Bank’s reasonable business judgment, for the sale or merger of Borrower to or
into a third-party purchaser; provided, however, the failure of Borrower to so
provide such fully executed asset purchase or merger agreement to Bank on or
before October 15, 2009 shall be an automatic Event of Default as defined and
set forth in the Agreement, and Bank shall have all of its rights and remedies
as provided for in the Agreement without further notice to
Borrower.  The foregoing should not be viewed as a complete
delineation of any rights or remedies of Bank, all of which are hereby
specifically reserved.

    

    3.           This
Amendment shall not become effective until fully executed by all parties
hereto.

     

    4.   Except as expressly
amended hereby and by any other supplemental documents or instruments executed
by either party hereto in order to effectuate the transactions contemplated
hereby, the Agreement and Exhibit A thereto hereby are ratified and confirmed by
the parties hereto and remain in full force and effect in accordance with the
terms thereof.

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      
        	 	Bank
      of America, N.A.,	 
	 	successor
      in interest by merger to,	 
	 	LaSalle
      Bank National Association	 
	 	 	 
	 	 	 
	
                 

              	
                By:
      

              	/s/ Thomas
      H. Herron	 
	 	Title:
      	Senior
      Vice President	 
	 	 	 	 

      

    

     

    
      
        	Accepted
      and agreed to this	 	 	 	 
	15th
      day of September, 2009.	 	 	 	 
	 	 	 	 	 	 
	WEGENER
      COMMUNICATIONS, INC.	 	 	 	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	By:	
                /s/
      Robert A.Placek

              	 	 	
                 

              	 
	 	
                Robert
      A. Placek

              	 	 	
                 

              	 
	Title:	
                CEO

              	 	 	
                 

              	 

      

    

    
       

      
        
          	 	 	 	 	 	 
	By:	
                  /s/
      C. Troy Woodbury, Jr.

                	 	 	
                   

                	 
	 	
                  C.
      Troy Woodbury,
      Jr.

                	 	 	
                   

                	 
	Title:	
                  Treasurer

                	 	 	
                   

                	 

        

      

    

    
       

      
        
          	
                  Consented
      and agreed to by the following guarantor of the obligations of Wegener Communications, Inc.
      to LaSalle Bank National Association.

                	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 	 
	WEGENER
      COMMUNICATIONS, INC.	 	 	 	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	By:	
                  /s/
      Robert A.Placek

                	 	 	
                   

                	 
	 	
                  Robert
      A. Placek

                	 	 	
                   

                	 
	Title:	
                  President
      and CEO

                	 	 	
                   

                	 
	Date:	September
      15, 2009

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