Document:

Second Amendment to Loan and Security Agreement

 Exhibit 10.01 
 SECOND AMENDMENT 
 TO 
 LOAN AND SECURITY AGREEMENT 
 THIS SECOND
AMENDMENT TO LOAN AND SECURITY AGREEMENT is entered into as of December 1, 2006 (the “Amendment”), by and among
COMERICA BANK (“Bank”), CONCUR TECHNOLOGIES, INC. (“Concur”), CAPTURA
SOFTWARE, INC. (“Captura”), and OUTTASK LLC (“Outtask”) (each of Concur, Captura, and Outtask are individually referred to herein as a “Borrower” and
collectively, the “Borrowers”). 
 RECITALS 
 Borrowers and Bank are parties to that certain Amended and Restated Loan and Security Agreement dated January 24, 2006, as amended by a First
Amendment to Loan and Security Agreement dated as of August 8, 2006, and as amended from time to time (the “Agreement”). The parties desire to amend the Agreement in accordance with the terms of this Amendment. 
 NOW, THEREFORE, the parties agree as follows: 
 1. The definition of “Revolving Maturity Date” in Section 1.1 is amended to read “December 1, 2008”. 
 2.
Notwithstanding Section 6.7(c), the minimum EBITDA for the quarter ending December 31, 2006 shall be $4,000,000. Notwithstanding Section 6.7(e), the minimum Working Capital for the quarter ending December 31, 2006 shall be
$15,000,000. 
 3. For purposes of calculating compliance with Section 6.7(c), “Current Liabilities” shall include all amounts
outstanding under 2.1(a). 
 4. Section 1.a of the LIBOR Addendum is amended to read as follows: 
 a. Applicable Margin. As used herein, “Applicable Margin” means: 
  

													
	 Borrower’s Senior Debt to EBITDA Ratio
	  	Prime Rate
Spread
(Term
Loan)	 	 	LIBOR
Spread
(Term
Loan)	 	 	Prime Rate Spread
(Advances under
Revolving Line)	 	 	LIBOR Spread
(Advances under
Revolving Line)	 
	 Greater than or equal to 2.00 to 1.00
	  	1.25	%	 	3.50	%	 	1.00	%	 	3.25	%
	 Less than 2.00 to 1.00 but greater than or equal to 1.50 to 1.00
	  	0.75	%	 	3.00	%	 	0.75	%	 	3.00	%
	 Less than 1.50 to 1.00
	  	0.00	%	 	2.75	%	 	0.50	%	 	2.75	%

 5. Borrowers’ Capitalized Expenditures, measured on a consolidated basis, will not exceed
$12,000,000 for the fiscal year ending September 30, 2007. 

 6. Unless otherwise defined, all initially capitalized terms in this Amendment shall be as defined in the
Agreement. The Agreement, as amended hereby, shall be and remain in full force and effect in accordance with its respective terms and hereby is ratified and confirmed in all respects. Except as expressly set forth herein, the execution, delivery,
and performance of this Amendment shall not operate as a waiver of, or as an amendment of, any right, power, or remedy of Bank under the Agreement, as in effect prior to the date hereof. Each Borrower ratifies and reaffirms the continuing
effectiveness of all promissory notes, guaranties, security agreements, mortgages, deeds of trust, environmental agreements, and all other instruments, documents and agreements entered into in connection with the Agreement. 
  
 7. Each Borrower represents and warrants that the representations and
warranties contained in the Agreement are true and correct as of the date of this Amendment, and that no Event of Default has occurred and is continuing. 
  
 8. This Amendment may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one
instrument. 
  
 9. As a condition to the effectiveness of this
Amendment, Bank shall have received, in form and substance satisfactory to Bank, the following: 
  
 (a) this Amendment, duly executed by Borrowers; 
  
 (b) a nonrefundable amendment fee equal to $40,000 plus all Bank Expenses incurred through the date
of this Amendment; and 
  
 (c) such other
documents, and completion of such other matters, as Bank may reasonably deem necessary or appropriate. 
  
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 2 

 IN WITNESS WHEREOF, the undersigned have executed this
Amendment as of the first date above written. 
  

			
	CONCUR TECHNOLOGIES, INC.
		
	By:	 	/s/ John F. Adair
	Title:	 	Chief Financial Officer
	
	OUTTASK LLC
		
	By:	 	/s/ Kyle R. Sugamele
	Title:	 	Authorized Representative
	
	CAPTURA SOFTWARE, INC.
		
	By:	 	/s/ Kyle R. Sugamele
	Title:	 	Authorized Representative
	
	COMERICA BANK
		
	By:	 	/s/ Holly R. Dungan
	Title:	 	Vice President

  

 3Agreement by the Consultant Robert N. Meyer with the Company

 Exhibit 10.17 
 VSURANCE, INC. 
 A Nevada Corporation 
 AGREEMENT BY THE CONSULTANT ROBERT N. MEYER 
 WITH THE COMPANY TO PROVIDE
MARKETING EXPERTISE FOR THREE YEARS 
 WHEREAS, Robert N. Meyer an experienced marketing professional and the Company in the immediate need to
generate product sales and Company awareness, hereby engages Mr. Meyer to provide an array of marketing services and expertise for a three year period (January 10, 2007 through January 10, 2010) in exchange for 1,000,000 shares of common
stock in lieu of cash payments; these services include and are not limited to targeted database e-mailings; web based and televised product commercial consulting (television marketing); ARCA race team sponsorship procurement; internet marketing
(web-based partnerships); and administration efficiency analysis of all marketing program costs. These services were valued at $750,000 which equated to an annual cost of $250,000 or $20,833 per month. This is based on a 50 hours per month devoted
to the company at an hourly cost of $417 inclusive of out-of-pocket expenses. 
  

															
	 Purchaser / Investor
	  	Class of
Preferred	  	Date of
Purchase	  	 Payment Method
	  	Amount	  	Number of
Shares	  	Price
Per
Share
	 Robert N Meyer
	  	Common	  	01/25/2007	  	Advertising & Product Promotion Services for 3 years	  	$	750,000.00	  	1,000,000	  	$	0.75

 The Company shall register such shares for resale on Form S-8 to be filed with the Securities and Exchange
Commission within the next twelve months (which right may be revoked if services are not materially provided). 
 IN
WITNESS WHEREOF, the undersigned accepts the terms, understanding and deliverables in conjunction with the shares of common stock issued this 25th day of January 2007. 
  

	
	
	/s/ Robert N. Meyer
	Robert N. Meyer
	
	/s/ J Matt Lile, President
	J Matt Lile, President
	
	/s/ Russell Smith
	Russell Smith, Corporate AdvisorSecond Amendment to the Warrant Agreement

 Exhibit 10.1 
 SECOND AMENDMENT TO 
 WARRANT AGREEMENT 
 THIS SECOND AMENDMENT TO THE WARRANT AGREEMENT, dated January 31, 2007, (the “Second Amendment”) hereby amends the Warrant
Agreement dated June 16, 2006, as amended by the First Amendment dated July 31, 2006, (the “Agreement”) by and between ACTION PRODUCTS INTERNATIONAL, INC., a
Florida corporation (the “Company”), and REGISTRAR AND TRANSFER COMPANY, as Warrant Agent (the “Warrant Agent”) as follows: 
 WHEREAS, on July 20, 2006 (the “Effective Date”), the Securities and Exchange Commission declared effective a registration statement
under the Securities Act of 1933, as amended, covering the offer and sale of the Common Shares issuable upon exercise of the Warrants; and 
 WHEREAS, the Exercise Price of the Warrants under the Agreement, prior to the First Amendment was (a) $3.25 per Common Share, if the Exercise Date is after the Effective Date but on or before the date six (6) months after
the Effective Date, and (b) $3.75 per Common Share, if the Exercise Date is after the date six (6) months after the Effective Date but on or before the Expiration Date, subject to the terms and provisions of the Agreement; and 

WHEREAS, the Expiration Date of the Warrants under the Agreement may be erroneously deemed to be 5:00 p.m. (Eastern time) on January 31,
2007, notwithstanding the definition of “Expiration Date” under Section 1 of the Agreement, subject to the terms and provisions of the Agreement; and 
 WHEREAS, the Company and the Warrant Agent clarified that the Expiration Date is July 20, 2007, the date one (1) year after the Effective Date, as set forth in Section 1, of the Agreement; and

 WHEREAS, on January 30, 2007, the Board of Directors of the Company extended the expiration dates of the Warrants such that
the Warrants will allow the holders thereof to purchase one common share at an exercise price of $3.25 per share until January 31, 2008 and $3.75 per share from February 1, 2008 until January 31, 2010; and 
 WHEREAS, the Company and the Warrant Agent desire to amend the Agreement, as amended, to reflect the extension. 
 NOW, THEREFORE, in consideration of the premises and the mutual agreements hereinafter set forth and for the purpose of amending the Warrants and
the Agreement, the Company and the Warrant Agent hereby amend the Agreement as follows: 
 1. The Second “WHEREAS” clause is hereby
amended as follows: 
 “WHEREAS, the Warrants shall be exercisable from the date the Securities and Exchange Commission
declares effective a registration statement 

 
under the Securities Act of 1933, and amended (the “1933 Act”) covering the offer and sale of the Common Shares issuable upon exercise of the
Warrants (the “Effective Date”) until January 31, ^2010, unless earlier redeemed as provided herein; and” 
 2. The
definitions of “Exercise Price” and “Expiration Date” in Section 1 are hereby amended as follows: 
 “Exercise Price” shall mean (a) $ 3.25 per Common Share, if the Exercise Date is after the Effective Date but on or before ^January 31, 2008, and (b) $3.75 per Common Share, if the Exercise Date is after
^January 31, 2008 but on or before the Expiration Date, subject to modification and adjustment as provided in Section 8. 
 “Expiration Date” shall mean, unless the Warrants are redeemed as provided in Section 9 hereof prior to such date, 5:00 p.m. (Eastern time) on ^January 31, 2010. 
 2. The Warrant Certificates shall be deemed to be amended such that the Expiration Date is January 31, 2010 in accordance with this Second
Amendment, notwithstanding that Warrant Certificates heretofore or hereafter issued may continue to express an Expiration date of January 31, 2007. 
 3. This Second Amendment is made pursuant to Section 12(ii) of the Agreement not requiring approval of any holders of the Warrants. 
 4. Section 13 shall be amended such that any notices that shall be sent to the Company shall be copied only as
follows: Tarter Krinsky & Drogin LLP, 470 Park Avenue South, 14th Floor, New York, New York 10016, Attn:
James G. Smith, Esq., Phone: (212) 481-8585. 
 5. All other terms, conditions and provisions of the Agreement, except as otherwise
amended by this Second Amendment, shall remain in full force and effect. Capitalized terms not otherwise defined herein shall have the meanings as defined in the Agreement. 
 6. This Second Amendment may be executed in several counterparts, which taken together shall constitute a single document. 
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 2 

 IN WITNESS WHEREOF, the parties hereto have caused this Second Amendment to be duly executed as of the
date first above written. 
  

			
	ACTION PRODUCTS INTERNATIONAL, INC.
		
	By:	 	 /s/ RONALD S. KAPLAN

		 	 Ronald S. Kaplan
 Chief Executive
Officer

  

			
	REGISTRAR AND TRANSFER COMPANY
		
	By:	 	 /s/ WILLIAM P. TATLER

		 	 William P. Tatler

 Vice
President

  

 3

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