Document:

Exhibit
10.1

AMENDMENT NO. 1,
dated as of April 5, 2007 (this “Amendment No. 1”), to the Credit
Agreement dated as of November 30, 2006 (the “Credit Agreement”), among
SHUFFLE MASTER, INC. (the “Borrower”), DEUTSCHE BANK TRUST COMPANY
AMERICAS, as a Lender, the other Lenders party thereto from time to time,
DEUTSCHE BANK TRUST COMPANY AMERICAS, as administrative agent (the “Administrative
Agent”) DEUTSCHE BANK SECURITIES INC. and WELLS FARGO BANK, N.A., as joint
lead arrangers and book managers and WELLS FARGO BANK, N.A., as syndication
agent.

A.            Pursuant
to the Credit Agreement, the Lenders have extended credit to the Borrower
pursuant to the terms and subject to the conditions set forth therein.

B.            The
Borrower has requested that the Required Lenders agree, subject to the
conditions and terms set forth in this Amendment No. 1, to amend the Credit
Agreement, as set forth below.

C.            The
Required Lenders are willing to amend the Credit Agreement pursuant to the
terms and subject to the conditions set forth herein.

D.            Capitalized
terms used but not defined herein have the meanings assigned to them in the
Credit Agreement.

Accordingly, in consideration of the mutual agreements
herein contained and other good and valuable consideration, the sufficiency and
receipt of which are hereby acknowledged, and subject to the conditions set
forth herein, the parties hereto hereby agree as follows:

SECTION 1.           Waiver
and Consent.  Subject to
Section 4 of this Amendment, the Required Lenders hereby waive any Default
or Event of Default resulting from or relating in any respect to (i) the
Agreed Adjustments (as defined below); (ii) any failure to deliver any
financial statements for annual or quarterly accounting periods ended on
October 31, 2006 or January 31, 2007 when or as required (other than as
required by the amendment to Section 9.01(a) set forth in Section 2 of this
Amendment No. 1); and (iii) any failure to comply with any obligation that
became required to be performed or observed under any of such provisions by
reason of the occurrence of any such Default or Event of Default, including,
without limitation, any Default or Event of Default arising under the
provisions of Sections 9.01(a), 9.01(e)(i) and the penultimate sentence of the
second paragraph of the definition of “Applicable Margin” of the Credit
Agreement and any related or substantially comparable provision of any Credit
Document.

SECTION 2.           Amendments
to the Credit Agreement.

(a)           Notwithstanding anything to the contrary reported or
certified at any time by the Borrower pursuant to the terms of the Credit
Agreement, solely for purposes of determining Applicable Margin and Commitment
Commission Percentage under the Credit Agreement, the Total Leverage Ratio
shall be deemed to be 3.8x for all periods ended on or prior to January 31,
2007; provided that this provision shall cease to apply upon the earlier to
occur of May 31, 2007 and the delivery to the Lenders of financial statements
of the Borrower for the quarterly accounting period ended January 31, 2007.

(b)           Section 1.01 of the Credit Agreement is hereby amended to
add the following definition:  “Agreed
Adjustments” shall mean adjustments having the effect of reducing
Consolidated Net Income by not more than $3,000,000 arising out of the
re-audit, revision or restatement of any financial statement for the annual or
quarterly accounting periods ended on October 31, 2006 delivered to the
Administrative Agent or any Lender by the Borrower or any of its Subsidiaries
(including, without limitation, any misstatement therein or in any certificate,
representation or warranty relating thereto and any error, defect or deficiency
in accounting procedures or in the application of accounting principles
reflected thereby or relating thereto).

(c)           The first sentence of the definition of “Consolidated
EBITDA” in Section 1.01 of the Credit Agreement is hereby amended to remove the
word “and” prior to clause (vi) of such sentence and to add at the end of such
sentence the following: “, and (vii) Agreed Adjustments”

(d)           Section 9.01(a) of the Credit Agreement is hereby amended
to include the following at the end of clause (a):

“Notwithstanding
the requirements of this Section 9.01(a), with respect to the quarterly
accounting period ended January 31, 2007, the Borrower shall furnish such
information required by clauses (i), (ii) and (iii) above by May 31, 2007.”

SECTION 3.           Representations
and Warranties.  The Borrower
represents and warrants to the Administrative Agent and to each of the Lenders
that:

(a)           This
Amendment No. 1 has been duly executed and delivered by the Borrower and
constitutes its legal, valid and binding obligation enforceable in accordance
with its terms, except to the extent that the enforceability thereof may be
limited by applicable bankruptcy, insolvency, reorganization, moratorium or
other similar laws generally affecting creditors’ rights and by equitable
principles (regardless of whether enforcement is sought in equity or at law).

(b)           After
giving effect to this Amendment No. 1, the representations and warranties of
each Credit Party set forth in the Credit Documents are true and correct in all
material respects on and as of the Amendment No. 1 Effective Date, except to
the extent such representations and warranties expressly relate to an earlier
date (in which case such representations and warranties were true and correct
in all material respects as of such earlier date).

(c)           Immediately
after giving effect to this Amendment No. 1, no Default or  Event of Default has occurred and is
continuing.

SECTION 4.           Conditions
to Effectiveness.  This Amendment No.
1 shall become effective on the date (the “Amendment No. 1 Effective Date”)
on which each of the following conditions is satisfied:

 2
 

(a)           The Administrative Agent (or its counsel) shall have
received from the Required Lenders, the Borrower and the Guarantors, a
counterpart of this Amendment No. 1 signed on behalf of such party;

(b)           All corporate and other proceedings taken or to be taken
in connection with this Amendment No. 1 and all documents incidental thereto,
whether or not referred to herein, shall be reasonably satisfactory in form and
substance to the Administrative Agent;

(c)           The representations and warranties in Section 3 of this
Amendment No. 1 shall be true and correct; and

(d)           The Borrower shall have paid all
reasonable out-of-pocket costs and expenses (including the expenses of Cahill
Gordon & Reindel LLP) of the
Administrative Agent pursuant to Section 13.01 of the Credit Agreement, to the
extent so demanded by the Administrative Agent on or prior to the date hereof
(without limitation or prejudice to the right of the Administrative Agent to
make any future demand).

Upon satisfaction
of the conditions precedent set forth above, the Administrative Agent shall
promptly notify the Borrower and the Lenders of its determination that this
Amendment No. 1 has become effective, which determination shall, absent
manifest error, be conclusive and binding on the Borrower and the Required
Lenders for all purposes.

SECTION 5.           Credit
Agreement.  Except as expressly set
forth herein, this Amendment No. 1 shall not by implication or otherwise limit,
impair, constitute a waiver of, or otherwise affect the rights and remedies of
the Lenders, the Administrative Agent, the Borrower or any other Credit Party
under the Credit Agreement or any other Credit Document, and shall not alter,
modify, amend or in any way affect any of the terms, conditions, obligations,
covenants or agreements contained in the Credit Agreement or any other Credit
Document, all of which are ratified and affirmed in all respects and shall
continue in full force and effect.  Nothing
herein shall be deemed to entitle the Borrower to any future consent to, or
waiver, amendment, modification or other change of, any of the terms,
conditions, obligations, covenants or agreements contained in the Credit
Agreement or any other Credit Document in similar or different
circumstances.  After the Amendment No. 1
Effective Date, any reference to the Credit Agreement shall mean the Credit
Agreement as modified hereby, provided that any reference in the Credit
Agreement to the date of the Credit Agreement, as modified hereby, shall in all
instances remain as of November 30, 2006, and references in the Credit
Agreement to “the date hereof” and “the date of this Agreement,” and phrases of
similar import, shall in all instances be and continue to refer to November 30,
2006, and not the date of this Amendment No. 1. 
This Amendment No. 1 shall constitute a “Credit Document” for all
purposes of the Credit Agreement and the other Credit Documents.

SECTION 6.           Governing
Law.  THIS AMENDMENT NO. 1 AND THE
RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE CONSTRUED IN
ACCORDANCE WITH AND BE GOVERNED BY THE LAW OF THE STATE OF NEW YORK.  ANY LEGAL ACTION OR PROCEEDING WITH RESPECT TO
THIS AMENDMENT NO. 1 MAY BE BROUGHT IN THE COURTS OF THE STATE OF NEW YORK OR
OF THE UNITED STATES FOR THE SOUTHERN DISTRICT OF NEW

 3
 

YORK, IN EACH CASE WHICH ARE LOCATED IN THE COUNTY OF
NEW YORK, AND, BY EXECUTION AND DELIVERY OF THIS AMENDMENT NO. 1, THE BORROWER
HEREBY IRREVOCABLY ACCEPTS FOR ITSELF AND IN RESPECT OF ITS PROPERTY, GENERALLY
AND UNCONDITIONALLY, THE JURISDICTION OF THE AFORESAID COURTS.

SECTION 7.           Counterparts.  This Amendment No. 1 may be executed in any
number of counterparts and by the different parties hereto on separate
counterparts, each of which when so executed and delivered shall be an
original, but all of which shall together constitute one and the same
instrument.  A set of counterparts
executed by all the parties hereto shall be lodged with the Borrower and the
Administrative Agent.

SECTION 8.           Headings.  The headings of the several sections and
subsections of this Amendment No. 1 are inserted for convenience only and shall
not in any way affect the meaning or construction of any provision of this
Amendment No. 1.

SECTION 9.           Severability.  Any provision of this Amendment No. 1 held to
be invalid, illegal or unenforceable in any jurisdiction shall, as to such
jurisdiction, be ineffective to the extent of such invalidity, illegality or
unenforceability without affecting the validity, legality and enforceability of
the remaining provisions hereof; and the invalidity of a particular provision
in a particular jurisdiction shall not invalidate such provision in any other
jurisdiction.  The parties shall endeavor
in good-faith negotiations to replace the invalid, illegal or unenforceable
provisions with valid provisions, the economic effect of which comes as close
as possible to that of the invalid, illegal or unenforceable provisions.

 4

IN WITNESS WHEREOF, the parties hereto have caused
this Amendment No. 1 to be duly executed by their respective authorized
officers as of the day and year first written above.

	
   

  	
  SHUFFLE MASTER, INC.

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Richard Baldwin

  
	
   

  	
   

  	
  Name:  Richard
  Baldwin

  
	
   

  	
   

  	
  Title:  CFO

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  SHUFFLE MASTER INTERNATIONAL, INC.

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Mark L. Yoseloff

  
	
   

  	
   

  	
  Name:  Mark L.
  Yoseloff

  
	
   

  	
   

  	
  Title:  CEO

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  SHUFFLE UP PRODUCTIONS, INC.

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Mark L. Yoseloff

  
	
   

  	
   

  	
  Name:  Mark L.
  Yoseloff

  
	
   

  	
   

  	
  Title:  CEO

  
				

 

 S-1
 

 

	
  

  	
  DEUTSCHE BANK TRUST COMPANY AMERICAS,
  Individually and as Administrative Agent

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/  Alexander
  B. V. Johnson

  
	
   

  	
   

  	
  Name: 
  Alexander B. V. Johnson

  
	
   

  	
   

  	
  Title: 
  Managing Director

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/  Joanna
  Soliman

  
	
   

  	
   

  	
  Name:  Joanna
  Soliman

  
	
   

  	
   

  	
  Title: 
  Assistant Vice President

  
				

 

 S-2
 

 

	
  To Approve Amendment No. 1:

  
	
   

  
	
  DEUTSCHE BANK TRUST COMPANY AMERICAS, as a Lender

  
	
   

  
	
  By:

  	
  /s/  Alexander
  B. V. Johnson

  	
   

  
	
  Name:  Alexander B. V. Johnson

  	
   

  
	
  Title:  Managing Director

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
  /s/  Joanna
  Soliman

  	
   

  
	
  Name:  Joanna Soliman

  	
   

  
	
  Title:  Assistant Vice President

  	
   

  

 

 S-3
 

 

	
  To Approve Amendment No. 1:

  
	
   

  
	
   

  
	
  Wells Fargo Bank, N.A., as a Lender

  
	
   

  
	
   

  
	
  By:

  	
  /s/ Virginia S. Christenson

  	
   

  
	
  Name: Virginia
  S. Christenson

  
	
  Title: Vice
  President/Senior Relationship Manager

  
	
   

  
	
   

  
	
  Amalgamated Bank, as a Lender

  
	
   

  
	
   

  
	
  By:

  	
  /s/ J. Bruce Meredith

  	
   

  
	
  Name: J.
  Bruce Meredith

  
	
  Title: Senior
  Vice President

  

 

 S-4Exhibit 4.1

FIRST  SUPPLEMENTAL INDENTURE

FIRST
SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”), dated as of
April 2, 2007, by and among Integrated Alarm Services Group, Inc. (the “Company”),  the guarantors identified on the signature
pages hereto and Wells Fargo Bank, N.A., as trustee (the “Indenture Trustee”).  All capitalized terms used herein without
definition herein shall have the meanings ascribed thereto in the Indenture (as
defined).

W I T N E S S E T H:

WHEREAS, the Company issued and sold those certain 12% Senior
Secured  Notes due 2011 (the “Notes”),
which Notes are guaranteed by the
Subsidiary Guarantors named therein, pursuant to that certain indenture (the “Indenture”),
dated as of November 16, 2004, by and among the Company, the Subsidiary
Guarantors and the Indenture Trustee;

WHEREAS,
Section 9.02 of the Indenture authorizes the Company, the Subsidiary
Guarantors and the Indenture Trustee, with the consent of the holders of at
least a majority in aggregate principal amount of the Notes then outstanding,
to amend the Indenture, and any past default or compliance with any provisions
of the Indenture may also be waived;

WHEREAS,
in connection with the consent solicitation conducted by the Company for
consents to amend and waive certain provisions of the Indenture, holders of
approximately 92% of the aggregate principal amount of the Notes (the “Consenting
Holders”), in accordance with Section 9.02 of the Indenture, have consented
to certain amendments and waivers to the terms of the Indenture as set forth in
this Supplemental Indenture; and

WHEREAS,
the Company, by appropriate corporate action, has determined to amend the
provisions of the Indenture in the manner described herein and has taken all
acts and proceedings required by law, by the Indenture, and by its governing
documents necessary to duly authorize, execute and deliver this Supplemental
Indenture and to constitute this Supplemental Indenture a legal, valid and
binding agreement of the Company enforceable against the Company in accordance
with the terms herein.

NOW,
THEREFORE, the parties hereto agree as follows:

Section 1.1.            Amendment of Section 4.03.  Section 4.03 of the Indenture is hereby
amended by deleting the existing section in its entirety.

Section 1.2.            Amendment of Section 4.07.  Section 4.07 of the Indenture is hereby
amended by deleting the existing section in its entirety.

Section 1.3.            Amendment of Section 4.08.  Section 4.08 of the Indenture is
hereby amended by deleting the existing section in its entirety.

Section 1.4.            Amendment of Section 4.09.  Section 4.09 of the Indenture is hereby
amended by deleting the existing section in its entirety.

Section 1.5.            Amendment of Section 4.10.  Section 4.10 of the Indenture is hereby
amended by deleting the existing section in its entirety.

Section 1.6.            Amendment of Section 4.11.  Section 4.11 of the Indenture is hereby
amended by deleting the existing section in its entirety.

Section 1.7.            Amendment of Section 4.12.  Section 4.12 of the Indenture is hereby
amended by deleting the existing section in its entirety.

Section 1.8.            Amendment of Section 4.13.  Section 4.13 of the Indenture is hereby
amended by deleting the existing section in its entirety.

Section 1.9.            Amendment of Section 4.14.  Section 4.14 of the Indenture is hereby
amended by deleting the existing section in its entirety.

Section 1.10.          Amendment of Section 4.15.  Section 4.15 of the Indenture is hereby
amended by deleting the existing section in its entirety.

Section 1.11.          Amendment of Section 4.16.  Section 4.16 of the Indenture is hereby
amended by deleting the existing section in its entirety.

Section 1.12.          Amendment of Section 4.17.  Section 4.17 of the Indenture is hereby
amended by deleting the existing section in its entirety.

Section 1.13.          Amendment of Section 4.18.  Section 4.18 of the Indenture is hereby
amended by deleting the existing section in its entirety.

Section 1.14.          Amendment of Section 4.19.  Section 4.19 of the Indenture is hereby
amended by deleting the existing section in its entirety.

Section 1.15.          Amendment of Section 5.01.  Section 5.01 of the Indenture is hereby
amended by deleting the existing section in its entirety.

Section
1.16.          Amendment of
Section 6.01.  Section 6.01
of the Indenture is hereby amended by deleting subsections (iii), (iv), (v),
(vi), (vii), (viii) and (ix) of the existing section in their entirety.

Section 2.               Deletion of Certain
Definitions.  The Indenture is hereby
amended to delete all definitions and defined terms from the Indenture where
all references to such definitions or defined terms would be eliminated as a
result of the amendments set forth herein.

Section
3.               Waiver of Existing
Defaults.  To the fullest extent
permitted under Sections 6.04 and 9.02 of the Indenture, the Consenting Holders
have irrevocably waived any and all Defaults or Events of Defaults arising or
existing under the Indenture prior to the effectiveness of this Supplemental
Indenture.

Section
4.               Instruments to be Read
Together.  This Supplemental
Indenture is an indenture supplemental to the Indenture; and, as such, the
Indenture and this Supplemental Indenture shall henceforth be read
together.  To the extent that the Notes
conflict with or are inconsistent with the terms of the Indenture as amended by
this Supplemental Indenture, the terms of the Indenture as amended by this
Supplemental Indenture shall govern.

Section
5.               Trustee Disclaimer. The Indenture Trustee has accepted the
amendment of the Indenture effected by this Supplemental Indenture and agrees
to execute the trust created by the Indenture as hereby amended, but only upon
the terms and conditions set forth in the Indenture, including the terms and
provisions defining and limiting the liabilities and responsibilities of the
Indenture Trustee, and, without limiting the generality of the foregoing, the
Indenture Trustee shall not be responsible in any manner whatsoever for or with
respect to any of the recitals or statements contained herein, all of which
recitals or statements are made solely by the Company, or for or with respect
to (a) the validity or sufficiency of this Supplemental Indenture or any of the
terms or provisions hereof, (b) the proper authorization hereof by the Company
by corporate action or otherwise, (c) the due execution hereof by the Company,
(d) the consequences (direct or indirect and whether deliberate or inadvertent)
of any amendment herein provided for, and the Indenture Trustee makes no
representation with respect to any such matters, and (e) the validity or
sufficiency of the consent solicitation materials or procedure in connection
with the solicitation of consents to the amendments and waivers provided for
herein.

Section
6.               Trust Indenture Act
Controls.  If any provision of this
Supplemental Indenture limits, qualifies or conflicts with another provision
that is required to be included in this Supplemental Indenture or the Indenture
by the TIA, the required provision shall control.

Section 7.               Governing Law.  The internal law of the State of New York
shall govern and be used to construe this Supplemental Indenture without giving
effect to applicable principles of conflicts of law (other than Section 5-1401
of the New York General Obligations Law) to the extent that the application of
the laws of another jurisdiction would be required thereby.

Section 8.               Counterparts.  This Supplemental Indenture may be signed in
any number of counterparts, each of which shall be an original, with the same
effect as if the signatures thereto and hereto were upon the same instrument.

Section 9.               Severability.  In case any provision in this Supplemental
Indenture shall be invalid, illegal or unenforceable, the validity, legality
and enforceability of the remaining provisions shall not in any way be affected
or impaired thereby.

Section 10.             Ratification.  Except as expressly amended hereby, each
provision of  the Indenture shall remain
in full force and effect and, as amended hereby, the Indenture is in all
respects agreed to, ratified and confirmed by each of the Company, the
Subsidiary Guarantors and the Indenture Trustee.

*     *     *    
*     *

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

	
  

  	
  INTEGRATED ALARM 

  SERVICES GROUP, INC.

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ J. Eric Griffin

  
	
   

  	
  Name: J. Eric
  Griffin

  	
   

  
	
   

  	
  Title: Vice
  President & Secretary

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  CRITICOM
  INTERNATIONAL

  CORPORATION

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ J. Eric Griffin

  
	
   

  	
  Name: J. Eric
  Griffin

  	
   

  
	
   

  	
  Title: Vice
  President & Secretary

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  MONITAL SIGNAL CORPORATION

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ J. Eric Griffin

  
	
   

  	
  Name: J. Eric
  Griffin

  	
   

  
	
   

  	
  Title: Vice
  President & Secretary

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  INTEGRATED ALARM SERVICES,

  INC.

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ J. Eric Griffin

  
	
   

  	
  Name: J. Eric
  Griffin

  	
   

  
	
   

  	
  Title: Vice
  President & Secretary

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  AMERICAN
  HOME SECURITY, INC.

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ J. Eric Griffin

  
	
   

  	
  Name: J. Eric
  Griffin

  	
   

  
	
   

  	
  Title: Vice
  President & Secretary

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  NATIONAL
  ALARM COMPUTER

  CENTER INC.

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ J. Eric Griffin

  
	
   

  	
  Name: J. Eric
  Griffin

  	
   

  
	
   

  	
  Title: Vice
  President & Secretary

  	
   

  
						

 

 

	
  

  	
  EVEREST VIDEO SYSTEMS, L.L.C.

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ J. Eric Griffin

  
	
   

  	
  Name: J. Eric
  Griffin

  	
   

  
	
   

  	
  Title: Vice
  President & Secretary

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  WELLS
  FARGO BANK, N.A., as Trustee

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  By: 

  	
  /s/ Joseph P. O’Donnell

  	
   

  	
   

  
	
  Name: Joseph P.
  O’Donnell

  	
   

  	
   

  
	
  Title: Vice
  President

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