Document:

c46835_ex10-2.htm -- Converted by SEC Publisher, created by BCL Technologies Inc., for SEC Filing

     Globix Corporation 

2200 West Park Drive 

Westborough, Massachusetts 01581

February 12, 2007

Mr. Eric J. Sandman 

Senior Vice President and Chief Financial Officer 

Globix Corporation 

2200 West Park Drive 

Westborough, MA 01581 

           Re: Severance

Dear Eric: 

           This letter is being provided to you as a binding commitment undertaken by Globix Corporation (the “Company”) to provide you with the payment of severance upon the occurrence of certain events. Pursuant to the unanimous
approval by the Compensation Committee of the Company’s Board of Directors, you shall receive a severance payment equal to one year’s base salary in the event that (i) you are actually or constructively terminated from employment with the
Company without cause within one year following a Change of Control of the Company, as defined in the Company’s 2003 Stock Option Plan; or (ii) you are required to relocate your primary place of business to a location further than sixty (60)
miles outside of Westborough, Massachusetts. For purposes of the severance payment contemplated hereby, one year’s base salary shall consist of your annual salary as in effect immediately prior to the Change of Control. Constructive termination
shall consist of a diminution of responsibilities and a substantial decrease in compensation. The period of exercisability for all options held by you that are exercisable upon a termination of employment described in clauses (i) or (ii) above shall
be six months following the date of such termination of employment. 

[continued on next page]

           This letter shall be binding upon and inure to the benefit of the undersigned parties and their respective successors and assigns. Please indicate your agreement to the terms of this letter between you and the Company by
executing a copy of this letter and returning the same to me. 

	 	
Very truly yours, 
	
	 	
GLOBIX CORPORATION 
	
	 	 

	
	 	 

	
	 	 

	
	 	
By: /s/Kurt J. Van Wagenen                    
 	
	 	
Name: Kurt J. Van Wagenen 
	
	 	
Title: President & Chief Executive Officer 
	

Accepted and agreed as of the 12th day of February, 2007 

By: /s/Eric J. Sandman                 
 Name: Eric J. Sandman 

Title: Senior Vice President and Chief Financial Officer 

-2-c46835_ex10-3.htm -- Converted by SEC Publisher, created by BCL Technologies Inc., for SEC Filing

     Globix Corporation 

2200 West Park Drive 

Westborough, Massachusetts 01581

February 12, 2007 

Mr. John P. Stack 

Vice President and Corporate Controller 

Globix Corporation 

2200 West Park Drive 

Westborough, MA 01581 

           Re: Severance

Dear John:

           This letter is being provided to you as a binding commitment undertaken by Globix Corporation (the “Company”) to provide you with the payment of severance upon the occurrence of certain events. Pursuant to the unanimous
approval by the Compensation Committee of the Company’s Board of Directors, you shall receive a severance payment equal to one year’s base salary in the event that (i) you are actually or constructively terminated from employment with the
Company without cause within one year following a Change of Control of the Company, as defined in the Company’s 2003 Stock Option Plan; or (ii) you are required to relocate your primary place of business to a location further than sixty (60)
miles outside of Westborough, Massachusetts. For purposes of the severance payment contemplated hereby, one year’s base salary shall consist of your annual salary as in effect immediately prior to the Change of Control. Constructive termination
shall consist of a diminution of responsibilities and a substantial decrease in compensation. 

[continued on next page]

           This letter shall be binding upon and inure to the benefit of the undersigned parties and their respective successors and assigns. Please indicate your agreement to the terms of this letter between you and the Company by
executing a copy of this letter and returning the same to me. 

	 	
Very truly yours, 
	
	 	
GLOBIX CORPORATION 
	
	 	 

	
	 	
By: /s/Kurt J. Van Wagenen                 
	
	 	
Name: Kurt J. Van Wagenen 
	
	 	
Title: President & Chief Executive Officer 
	

Accepted and agreed as of the 12th day of February, 2007

	
By: /s/John P. Stack                         
	
	
Name: John P. Stack 
	
	
Title: Vice President and Corporate Controller 
	

-2-EXHIBIT 10.1

AMENDMENT NO. 1 TO THIRD AMENDED AND RESTATED CREDIT AND

SECURITY AGREEMENT

                    THIS AMENDMENT NO. 1 TO THIRD AMENDED AND RESTATED CREDIT AND SECURITY AGREEMENT (this “Amendment”) is entered into as of April 18, 2006, by and among:

          (1)     QUEST
DIAGNOSTICS RECEIVABLES INC., a Delaware corporation (the “Borrower”),

          (2)     QUEST DIAGNOSTICS INCORPORATED, a Delaware corporation as initial servicer (together with the Borrower, the “Loan
Parties”),

          (3)     VARIABLE FUNDING CAPITAL COMPANY LLC, a Delaware limited liability company as assignee of Blue Ridge Asset Funding Corporation (“VFCC”), and WACHOVIA BANK, NATIONAL ASSOCIATION, in its capacity as a Liquidity Bank to VFCC (together with VFCC, the VFCC Group”),

          (4)     ATLANTIC ASSET SECURITIZATION LLC, a Delaware limited liability company formerly known as Atlantic Asset Securitization Corp. (together with its successors,
“Atlantic” and together with VFCC, the “Conduits”), and CALYON NEW YORK BRANCH, in its capacity
as a Liquidity Bank to Atlantic (together with Atlantic, the “Atlantic Group”),

          (5)     WACHOVIA
BANK, NATIONAL ASSOCIATION, in its capacity as agent for the VFCC Group, and
CALYON NEW YORK BRANCH, in its capacity as agent for the Atlantic Group (in
such latter capacity, together with its successors in such latter capacity, the “Atlantic
Agent” or a “Co-Agent”),
and

          (6)     WACHOVIA
BANK, NATIONAL ASSOCIATION, as administrative agent for the VFCC Group, the Atlantic
Group and the Co-Agents (in such capacity, together with any  successors thereto
in such capacity, the “Administrative Agent” and
together with each of the Co-Agents, the “Agents”),

with respect to that certain Third Amended and Restated Credit and Security Agreement
dated as of April 20, 2004, by and among the parties hereto (as heretofore amended,
the
“Existing Agreement” which,
as amended hereby, is hereinafter referred to as the “Agreement”). 

    

                   Unless otherwise indicated, capitalized terms used in this Amendment are used with the meanings attributed thereto in the Existing Agreement.     

W I T N E S S E
T H :

          WHEREAS, on December 1, 2005, Blue Ridge Asset Funding Corporation assigned all of its right, title and interest in, to any under the Existing Agreement and
other Transaction documents to VFCC; and

          WHEREAS, Atlantic Asset Securitization Corp. underwent a conversion in status to a limited liability company known as Atlantic Asset Securitization LLC pursuant
to Delaware law; and

          WHEREAS, the parties hereto desire to amend the Existing Agreement as hereinafter set forth;

          NOW, THEREFORE, in consideration of the premises and the mutual agreements herein contained, the parties hereto hereby agree as follows:

          1.        Amendments to Existing Agreement.     Subject to the terms and conditions hereinafter set
forth, the parties hereby agree to amend the Existing Agreement as follows:

          1.1.     All references in the Existing Agreement to “Blue Ridge” (whether alone or as part of another defined term) or to “Blue Ridge Asset Funding Corporation” are hereby replaced
with “VFCC” and “Variable Funding Capital Company LLC,” respectively.     

          1.2.     All references in the Existing Agreement to “Atlantic Asset Securitization Corp.” are hereby replaced with “Atlantic Asset Securitization LLC.”

          1.3.     Sections 10.1(h) of the Existing Agreement is hereby amended and restated in its entirety to read as follows:

          (h)       The three-calendar month rolling average Delinquency Ratio at any Cut-Off Date exceeds 9.00%.     

          2.         Representations.     

          2.1.     Each of the Loan Parties represents and warrants to the Lenders and the Agents that it has duly authorized, executed and delivered this Amendment and that the Agreement constitutes, a legal,
valid and binding obligation of such Loan Party, enforceable in accordance with its terms (except as enforceability may be limited by applicable bankruptcy, insolvency, or similar laws affecting the enforcement of creditors’ rights generally or
by equitable principles relating to enforceability).     

          2.2.     Each of the Loan Parties further represents and warrants to the Lenders and the Agents that each of its representations and warranties set forth in Section 6.1 of the Agreement is true and
correct as of the date hereof and that no Event of Default or Unmatured Default exists as of the date hereof and is continuing.     

          3.        Conditions Precedent.     This Amendment shall become effective as of the date first above
written upon (a) receipt by the Administrative Agent of a counterpart hereof duly

executed by each of the parties hereto, (b) receipt by the VFCC Agent of a fully-earned and non-refundable extension fee in the amount of $20,000 in immediately available funds and of an amended and restated VFCC Fee Letter,
duly executed by the parties thereto, and (c) receipt by the Atlantic Agent of a fully-earned and non-refundable extension fee in the amount of $10,000 in immediately available funds and of an amended and restated Atlantic Fee Letter, duly
executed by the parties thereto.     

          4.        Miscellaneous.     

          4.1.     Except as expressly amended hereby, the Existing Agreement and shall remain unaltered and in full force and effect, and each of the parties hereby ratifies and confirms the Agreement and each of
the other Transaction Documents to which it is a party.     

          4.2.     THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF NEW YORK WITHOUT REFERENCE TO PRINCIPLES OF CONFLICTS OF LAW.     

          4.3.     EACH LOAN PARTY HEREBY ACKNOWLEDGES AND AGREES THAT:

          4.3.1.  IT
IRREVOCABLY (i) SUBMITS TO THE NON-EXCLUSIVE JURISDICTION, FIRST, OF ANY UNITED
STATES FEDERAL COURT, AND SECOND, IF FEDERAL JURISDICTION IS NOT AVAILABLE, OF
ANY NEW YORK STATE COURT, IN  EITHER CASE SITTING IN NEW YORK COUNTY, NEW YORK,
IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THE AGREEMENT, AND
(ii) WAIVES, TO THE FULLEST EXTENT IT MAY EFFECTIVELY DO SO, THE DEFENSE OF AN
INCONVENIENT FORUM TO THE MAINTENANCE OF AN  ACTION OR PROCEEDING IN SUCH COURTS.     

          4.3.2.  TO
THE EXTENT THAT IT HAS OR HEREAFTER MAY ACQUIRE ANY IMMUNITY FROM THE JURISDICTION
OF ANY COURT OR FROM ANY LEGAL PROCESS (WHETHER THROUGH SERVICE OR NOTICE, ATTACHMENT
PRIOR TO JUDGMENT,  ATTACHMENT IN AID TO EXECUTION, EXECUTION OR OTHERWISE) WITH
RESPECT TO ITSELF OR ITS PROPERTY, IT HEREBY IRREVOCABLY WAIVES SUCH IMMUNITY
IN RESPECT OF ITS OBLIGATIONS UNDER OR IN CONNECTION WITH THE AGREEMENT.     

          4.4.     This Amendment may be executed in any number of counterparts and by the different parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all
of which when taken together shall constitute one and the same Amendment.     

<Signature pages follow>

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

	 	 QUEST DIAGNOSTICS RECEIVABLES
    INC.      
	 

 
	 

 
	 	
By:
 	
 /s/      Joseph P. Manory
 
	 	 	Name: Joseph P. Manory
	 	 	Title:    Vice President & Treasurer
	
          
 
	 
 	QUEST DIAGNOSTICS INCORPORATED
	 

 
	 

 
	 	
By:
 	
 /s/      Joseph P. Manory
 
	 	 	Name: Joseph P. Manory
	 	 	Title:    Vice President & Treasurer 
	
          
	 	 WACHOVIA BANK, NATIONAL ASSOCIATION, 
	 	 INDIVIDUALLY, AS
ADMINISTRATIVE
AGENT
    AND AS VFCC AGENT 
	 

 
	 

 
	 	
By:
 	
 /s/      Elizabeth R. Wagner
 
	 	 	Name: Elizabeth R. Wagner 
	 	 	Title:    Managing Director 
	 

 
	 

 
	 	 VARIABLE FUNDING CAPITAL COMPANY LLC 
	 

 
	 	 BY: WACHOVIA CAPITAL MARKETS,
    LLC, ITS ATTORNEY-IN-FACT 
	 

 
	 	By:	 /s/      Douglas R.
        Wilson, Jr. 
	 	 

 	
Name: Douglas R. Wilson, Sr.     
 
	 	 

 	
Title:    Vice President
 
	 

 
	 

 
	 	 ATLANTIC ASSET SECURITIZATION LLC 
	 

 
	 	 By: CALYON NEW YORK BRANCH 
	 	      AS ATTORNEY-IN-FACT 
	 

 
	 
	 	By:	/s/       Anthony Brown 
	 	 

 	
Name: Anthony Brown
 
	 	 

 	
Title:    Vice President
 

	 	
By:
 	
 /s/      Tina Kourmpetis
 
	 	 	Name: Tina Kourmpetis 
	 	 	Title:    Managing Director 
	
                    
	 

 
	 	 CALYON NEW YORK BRANCH, INDIVIDUALLY
    AND AS ATLANTIC 
	 	
AGENT
 
	 

 
	 	
By:
 	
 /s/      Anthony Brown
 
	 	 	Name: Anthony Brown
	 	 	Title:    Vice President 
	
                    
 
	 

 
	 	
By:
 	
 /s/      Tina Kourmpetis
 
	 	 	Name: Tina Kourmpetis 
	 	 	Title:    Managing Director

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