Document:

Exhibit

Exhibit 10.1

AMENDMENT NO. 4
TO
AMENDED AND RESTATED CREDIT AGREEMENT

This Amendment No. 4 dated as of May 1, 2019 (this “Amendment”), is entered into by and between NIC INC., a Delaware corporation, as the Borrower (the “Borrower”), and Bank of America, N.A., a national banking association, as Bank and Letter of Credit Issuer (the “Bank”).  
RECITALS
A.    The Borrower and the Bank have entered into that certain Amended and Restated Credit Agreement dated as of August 6, 2014 as amended by that Amendment No. 1 dated July 9, 2015 and that Amendment No. 2 dated December 14, 2015 and that Amendment No. 3 dated April 28, 2017 (as further amended from time to time, the “Credit Agreement”).
B.    The Borrower and the Bank have agreed to certain amendments to the Credit Agreement as more fully described herein.
C.    The Amendment is subject to the representations and warranties of the Borrower and upon the terms and conditions set forth in this Amendment.
AGREEMENT
Now, THEREFORE,  in consideration of the foregoing Recitals, and other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, and intending to be legally bound, the Borrower and the Bank hereby agree as follows:
SECTION 1. DEFINED TERMS.  Capitalized terms used herein but not otherwise defined herein shall have the meaning assigned to such terms in the Credit Agreement.

SECTION 2. AMENDMENT.  

2.1Section 1.01 of the Credit Agreement is hereby amended by deleting the defined term “Applicable Rate” in its entirety.

2.2Section 1.01 of the Credit Agreement is hereby amended by amending and restating the defined term “Maturity Date” to read in its entirety as follows:

“Maturity Date” means May 1, 2021; provided, however, that if such date is not a Business Day, the Maturity Date shall be the next preceding Business Day.”

2.3Section 1.01 of the Credit Agreement is hereby amended by amending and restating the defined term “Permitted Acquisition” to read in its entirety as follows:

““Permitted Acquisition” means an Acquisition by the Borrower or any other Loan Party of Persons and/ or assets where (i) no Default or Event of Default exists either before or after the proposed Permitted Acquisition, and (ii) the Persons or assets to be acquired are in (or used in) a business substantially related or incidental to those lines of business conducted by the Borrower and its Subsidiaries and the prior, effective written consent or approval of such Acquisition by the board of 

NIC Inc. - Amendment No. 4 to Amended and Restated Credit Agreement

directors, executive committee or equivalent governing body, or the stockholders, as appropriate, of the other party or parties has been obtained, and would not be perceived by the Person or assets to be acquired as hostile in nature; provided, that, without the prior written consent of the Bank, the purchase price of any Acquisition (including assumed liabilities in connection with such Acquisition) will not exceed $10,000,000, and the aggregate purchase price of all Acquisitions until the Maturity Date (including assumed liabilities in connection with such Acquisitions) will not exceed $50,000,000.”

2.4Section 2.04(a) of the Credit Agreement is hereby amended by deleting Section 2.04(a) in its entirety and replacing it with the following:

“(a)    The interest rate is a rate per year equal to (i) the LIBOR Daily Floating Rate plus 1.15% with respect to any LIBOR Daily Floating Rate Loan, or (ii) the LIBOR Rate plus 1.15% with respect to any LIBOR Rate Loan.” 
2.5Section 5.13 of the Credit Agreement is hereby amended by inserting the additional subsection (c) to read as follows:
“(c) No Plan Assets.  The Borrower represents that, as of the date hereof and throughout the term of this Agreement, no Borrower or Guarantor, if any, is (1) an employee benefit plan subject to Title I of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), (2) a plan or account subject to Section 4975 of the Internal Revenue Code of 1986 (the “Code”); (3) an entity deemed to hold “plan assets” of any such plans or accounts for purposes of ERISA or the Code; or (4) a “governmental plan” within the meaning of ERISA.”
SECTION 3.  LIMITATIONS ON AMENDMENTS.
3.1The amendments set forth in Section 2 above are effective for the purposes set forth herein and will be limited precisely as written and will not be deemed to (a) be a consent to any other amendment, waiver or modification of any other term or condition of the Credit Agreement or any other Loan Document, (b) otherwise prejudice any right or remedy which the Bank may now have or may have in the future under or in connection with the Credit Agreement or any other Loan Document or (c) be a consent to any future amendment, waiver or modification of any other term or condition of the Credit Agreement or any other Loan Document. 

3.2This Amendment is to be construed in connection with and as part of the Loan Documents and all terms, conditions, representations, warranties, covenants and agreements set forth in the Loan Documents, except as herein waived, are hereby ratified and confirmed and will remain in full force and effect.

SECTION 4.  REPRESENTATIONS AND WARRANTIES.  The Borrower represents and warrants to the Bank as follows:

4.1Immediately after giving effect to this Amendment, (a) the representations and warranties of (i) the Borrower contained in Article V of the Credit Agreement and (ii) each Loan Party contained in each other Loan Document, shall be true and correct in all material respects, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct as of such earlier date in all material respects, and (b) the representations and warranties contained in subsections (a) and (b) of Section 5.06 of the Credit Agreement shall be deemed to refer to the most recent statements furnished pursuant to clauses (a) and (b), respectively, of Section 6.02 of the Credit Agreement.

NIC Inc. - Amendment No. 4 to Amended and Restated Credit Agreement

4.2Immediately after giving effect to this Amendment, no Default or Event of Default has occurred and is continuing.

SECTION 5.  EXPENSES. The Borrower agrees to pay to the Bank upon demand, the amount of any and all out-of-pocket expenses, including the reasonable fees and expenses of its counsel, which the Bank may incur in connection with the preparation, documentation, and negotiation of this Amendment and all related documents.

SECTION 6.  REAFFIRMATION. The Borrower hereby reaffirms its obligations under each Loan Document (as amended hereby) to which it is a party.

SECTION 7.  EFFECTIVENESS.  This Amendment will become effective as of the date hereof upon:

7.1the execution and delivery of this Amendment, whether the same or different copies, by the Borrower and Bank; 

7.2a fully executed Joinder to Amended and Restated Continuing and Unlimited Guaranty, wether the same or different copies, by the Borrower, Guarantors and Bank; and

7.3an officer’s certificate for Borrower and each Guarantor.

SECTION 8.   GOVERNING LAW. This Amendment will be governed by and will be construed and enforced in accordance with the laws of the State of Missouri applicable to agreements made and prepared entirely within such State; provided that the Bank shall retain all rights arising under federal law.

SECTION 9.  CLAIMS, COUNTERCLAIMS, DEFENSES, RIGHTS OF SET-OFF. The Borrower hereby represents and warrants to the Bank that it has no knowledge of any facts that would support a claim, counterclaim, defense or right of set-off.

SECTION 10.  COUNTERPARTS. This Amendment may be signed in any number of counterparts, and by different parties hereto in separate counterparts, with the same effect as if the signatures to each such counterpart were upon a single instrument.  All counterparts will be deemed an original of this Amendment.

[Remainder of Page Intentionally Left Blank]

NIC Inc. - Amendment No. 4 to Amended and Restated Credit Agreement

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed as of the date first written above.
BORROWER:                    NIC INC.
a Delaware corporation
By: /s/ Stephen M. Kovzan        
Name: Stephen M. Kovzan
Title: Chief Financial Officer
BANK:                        BANK OF AMERICA, N.A.
By: /s/ Kyle Hartman            
Name: Kyle Hartman
Title: Vice President

NIC Inc. - Amendment No. 4 to Amended and Restated Credit Agreement

CONSENT TO AMENDMENT NO. 4
TO AMENDED AND RESTATED CREDIT AGREEMENT

Each of the undersigned is a Guarantor and party to that certain Amended and Restated Continuing and Unconditional Guaranty dated August 6, 2014 (the “Guaranty”) in favor of Bank of America, N.A. pursuant to which the Guarantors have guaranteed the obligations of NIC INC., a Delaware corporation, to Bank of America, N.A., as Bank and L/C Issuer pursuant to or in connection with that certain Amended and Restated Credit Agreement dated August 6, 2014 as amended by Amendment No. 1 dated July 9, 2015 and that Amendment No. 2 dated December 14, 2015 and that Amendment No. 3 dated April 28, 2017 (as further amended, supplemented or otherwise modified from time to time, the “Credit Agreement”) and the other Loan Documents (as defined in the Credit Agreement).  Each of the Guarantors hereby consents to Amendment No. 4 to the Amended and Restated Credit Agreement dated as of May 1, 2019.

Each Guarantor hereby reaffirms its obligations under the Guaranty.  

IN WITNESS WHEREOF, the Guarantors have caused this Consent to be executed as of May 1, 2019.
                        
ALABAMA INTERACTIVE, LLC, an Alabama limited liability company

ARKANSAS INFORMATION CONSORTIUM, LLC, an Arkansas limited liability company

COLORADO INTERACTIVE, LLC, a Colorado limited liability company

CONNECTICUT INTERACTIVE, LLC, a Connecticut limited liability company 

HAWAII INFORMATION CONSORTIUM, LLC, a Hawaii limited liability company

IDAHO INFORMATION CONSORTIUM, LLC, an Idaho limited liability company

INDIANA INTERACTIVE, LLC, an Indiana limited liability company

IOWA INTERACTIVE, LLC, an Iowa limited liability company

KANSAS INFORMATION CONSORTIUM, LLC, a Kansas limited liability company

KENTUCKY INTERACTIVE LLC, a Kentucky limited liability company

NIC Inc. - Amendment No. 4 to Amended and Restated Credit Agreement

LOUISIANA INTERACTIVE, LLC, an Louisiana limited liability company

MAINE INFORMATION NETWORK, LLC, a Maine limited liability company

MISSISSIPPI INTERACTIVE, LLC, a Mississippi limited liability company

MONTANA INTERACTIVE, LLC, a Montana limited liability company

NICUSA, Inc., a Kansas corporation

NIC FEDERAL, LLC, f/k/a NIC TECHNOLOGIES, LLC, a Kansas limited liability company 

NEBRASKA INTERACTIVE, LLC, a Nebraska limited liability company

NEW JERSEY INTERACTIVE, LLC, a New Jersey limited liability company

NEW MEXICO INTERACTIVE, LLC, a New Mexico limited liability company

NIC SERVICES, LLC, a Colorado limited liability company

OKLAHOMA INTERACTIVE, LLC, an Oklahoma limited liability company

PENNSYLVANIA INTERACTIVE, LLC, a Pennsylvania limited liability company

RHODE ISLAND INTERACTIVE, LLC, a Rhode Island limited liability company

SOUTH CAROLINA INTERACTIVE, LLC, a South Carolina limited liability company

TEXAS NICUSA, LLC, a Texas limited liability company

UTAH INTERACTIVE, LLC, a Utah limited liability company

VERMONT INFORMATION CONSORTIUM, LLC, a Vermont limited liability company

NIC Inc. - Amendment No. 4 to Amended and Restated Credit Agreement

VIRGINIA INTERACTIVE, LLC, a Virginia limited liability company

WEST VIRGINIA INTERACTIVE, LLC, a West Virginia limited liability company

WISCONSIN INTERACTIVE NETWORK, LLC, a Wisconsin limited liability company

By: /s/ William Van Asselt            
Name: William Van Asselt
Title: Secretary

NIC Inc. - Amendment No. 4 to Amended and Restated Credit AgreementExhibit

Lumentum Offer of Employment  

January 11, 2019  

Mr. Wajid Ali

Dear Wajid,  

We are very excited to have you join Lumentum. Your experience and leadership skills will have an immediate positive impact on Lumentum. Your leadership style coupled with your concern for the team will accelerate our results. 
Please accept the following offer of employment:
		
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	Title- Executive Vice President (E300 level)

		
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	Base Salary- $500,000

		
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	Target Incentive Opportunity- 80% of base salary ($400,000)

		
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	Your TIO payout will be pursuant to the FY19 cash incentive plan, provided however that for the FY19 2nd Half bonus, you will be paid no less than $250K

		
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	Total Target Cash- $900,000

		
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	On or after the 15th day of the month following your employment start date, you will receive the  following grants:

		
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	 New Hire Restricted Stock Units- in an approximate value of $1,000,000, which 1/3 shall vest on or around the first anniversary of the vesting start date  and the remaining shares shall vest quarterly over the following two years thereafter, assuming your continued employment through each vesting date. 

		
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	Replacement Restricted Stock Units- in an approximate value of $5,000,000 with the following vesting schedule, assuming your continued employment through each vesting date:

		
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	15% of the shares will vest December 15, 2019

		
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	25% of the shares will vest February 15, 2020

		
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	The remaining shares will vest quarterly over the following two years thereafter.

		
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	You will receive a $1,000,000 sign on bonus payable within 30 days of your start date, subject to repayment pursuant to the agreement attached as Exhibit A

		
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	You will be eligible for a focal stock grant (August 2019) and the Company’s annual merit process (October 2019).

		
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	We will recommend to the Compensation Committee that your focal stock award will be in an approximate value of $2,875,000 and will be a combination of RSUs and PSUs as approved by the Compensation Committee at the August Comp Committee meeting.  

All equity awards are subject to the terms and conditions of the Company's 2015 Equity Incentive Plan and your specific grant agreement. The number of RSUs subject to your awards will be calculated by Lumentum based on the following formula: the values above divided by the volume-weighted average trading price of Lumentum shares sold on the NASDAQ during the calendar month preceding the grant date.  

You will be eligible to participate in a comprehensive benefit program including health, vision, dental, life and disability insurance benefits on your date of hire. You will also be eligible to participate in the Company’s 401K Plan and Employee Stock Purchase Plan (ESPP). Other benefits include discretionary time off, sick leave, paid holidays, flexible spending accounts for child and health care, and tuition reimbursement. Additional benefit information can be provided at your request. 

You will be eligible to participate in the 2015 Change in Control Benefits Plan (“Plan”).  The Plan provides for cash payments, accelerated vesting of options, restricted stock units and other securities, and reimbursement of COBRA premiums under certain circumstances. 

We are positive you will make an immediate impact! Looking forward to you joining Lumentum’s team of inventive and success-driven professionals who are creating the future with light.

Best Regards,

/s/ Alan S. Lowe
Alan S. Lowe
President and CEO

Additional requirements related to your offer:

		
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	Successful completion of a background screen, including prior employment, education, and criminal history

		
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	Pursuant to federal law, please bring with you on your first day of work original documentation of your right to work in the United States (proof of citizenship or work visa), and be prepared to sign the verification form required by Federal law (DHS Form I-9); your right to work in the U.S. will be confirmed by E-Verify, as required by the Department of Homeland Security for government contractors

		
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	U.S. export control laws require that Lumentum obtain a government export license prior to releasing technologies to certain persons. This offer and your employment may be conditioned upon Lumentum's ability to satisfy U.S. export control laws. The decision to pursue an export license, if required, is at the sole election of Lumentum

		
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	Sign the Company’s Employee Proprietary Information and Inventions Agreement

Your employment with Lumentum is voluntarily entered into and is for no specified period. As a result, you will be free to resign at any time, for any reason, or for no reason at all. Similarly, Lumentum will be free to conclude its at-will employment relationship with you at any time, with or without notice or cause. This paragraph is intended to be the complete and exclusive statement regarding the circumstances under which your employment may be terminated and supersedes any prior agreement or representation. If any of its terms conflict with any practice or policy of Lumentum, now or in the future, these terms will control and may not be changed except by written agreement signed by an authorized representative of Lumentum.

This offer of employment is valid for five (5) business days from the date of the letter. Please sign and return to Lumentum or accept electronically. 

Signature:    /s/ Wajid Ali

Name:        Wajid Ali

Date:         January 13, 2019

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