Document:

Exhibit 10.13

 

Exhibit 10.13

Swap Transaction (Revision)

The purpose of this letter agreement is to confirm the amendment of the terms and conditions
of the Transaction entered into between:

JPMORGAN CHASE BANK, N.A.

(“JPMorgan”)

and

MILACRON INCORPORATED

(the “Counterparty”)

on the Trade Date and identified by the JPMorgan Deal Number specified below (the “Transaction”).
This letter agreement constitutes a “Confirmation” as referred to in the Master Agreement specified
below, and supersedes any previous confirmation or other writing with respect to the transaction
described below.

The definitions and provisions contained in the 2000 ISDA Definitions (the “Definitions”), as
published by the International Swaps and Derivatives Association, Inc. are incorporated into this
Confirmation. In the event of any inconsistency between those definitions and provisions and this
Confirmation, this Confirmation will govern.

This Confirmation supplements, forms part of, and is subject to, the ISDA Master Agreement dated as
of 28 July 2004, as amended and supplemented from time to time (the “Agreement”), between JPMORGAN
CHASE BANK, N.A. (“JPMorgan”) and MILACRON INCORPORATED (the “Counterparty”). All provisions
contained in the Agreement govern this Confirmation except as expressly modified below.

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58

 

The terms of the particular Swap Transaction to which this Confirmation relates are as follows:

	 	 	 
	 
	 	 
	A. TRANSACTION DETAILS
	 	 
	 
	 	 
	JPMorgan Deal Number(s):
	 	0500085004641
	 
	 	 
	Notional Amount:
	 	USD 50,000,000.00

	 
	 	 
	Trade Date:
	 	30 July 2004

	 
	 	 
	Effective Date:

	 	3 August 2004

	 
	 	 
	Termination Date:
	 	15 November 2009, subject to adjustment in accordance
with the Modified Following Business Day Convention.
	 
	 	 
	Fixed Amounts:
	 	 
	 
	 	 
	Fixed Rate Payer:

	 	JPMorgan
	 
	 	 
	Fixed Rate Payer

Payment Dates:

	 	The 15 November and 15 May in each year,
from and including 15 November 2004 to and
including the Termination Date, subject to
adjustment in accordance with the Modified
Following Business Day Convention and
there will be an adjustment to the
Calculation Period.
	Fixed Rate:

	 	11.50000 percent
	 
	 	 
	Fixed Rate Day Count Fraction:

	 	30/360
	 
	 	 
	Business Days:

	 	New York, London
	 
	 	 
	Floating Amounts:
	 	 
	 
	 	 
	Floating Rate Payer (Seller):

	 	Counterparty
	 
	 	 
	Floating Rate Payer Payment

Dates:

	 	The 15 November and 15 May in each
year, from and including 15 November
2004 to and including the Termination
Date, subject to adjustment in
accordance with the Modified Following
Business Day Convention, and there will
be an adjustment to the Calculation
Period.

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59

 

	 	 	 
	 
	 	 
	Floating Rate Option:

	 	USD-LIBOR-BBA, except that
	 
	 	 
	

	 	From and including 15 May 2005 to but excluding the
Termination Date:
	 
	 	 
	

	 	(i) if the Floating Rate determined is equal to or
less than 3.45 percent, exclusive of Spread, the
Floating Rate for that Calculation Period shall be
4.132 percent.
	 
	 	 
	

	 	(ii) if the Floating Rate determined is equal to or
greater than 4.132 percent but less than 6.00
percent, exclusive of Spread, the Floating Rate for
the Calculation Period shall be 4.132 percent.
	 
	 	 
	Designated Maturity:

	 	6 Month
	 
	 	 
	Spread:

	 	Plus 7.21000 percent
	 
	 	 
	Floating Rate Day Count Fraction:

	 	Actual/360
	 
	 	 
	Reset Dates:

	 	The last day in each Calculation Period.
	 
	 	 
	Compounding:

	 	Inapplicable
	 
	 	 
	Business Days:

	 	New York, London
	 
	 	 
	Calculation Agent:

	 	JPMorgan, unless otherwise stated in the Agreement.
	 
	 	 
	B. EARLY TERMINATION
	 	 
	 
	 	 
	Optional Early Termination:

	 	Applicable
	 
	 	 
	Option Style:

	 	European
	 
	 	 
	Exercise Business Day:

	 	New York, London
	 
	 	 
	Procedure
for Exercise
	 	 
	 
	 	 
	Exercise Dates:

	 	Five Exercise Business Days preceding 10 December 2007
	 
	 	 
	Exercise Period:

	 	9:00 a.m. to 11:00 a.m. New York time
	 
	 	 
	Partial Exercise:

	 	Inapplicable
	 
	 	 
	Multiple Exercise:

	 	Inapplicable
	 
	 	 
	Written Confirmation of Exercise:

	 	Applicable

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60

 

	 	 	 
	Settlement Terms
	 	 
	 
	 	 
	Cash Settlement:

	 	Applicable
	 
	 	 
	Cash Settlement Valuation Time:

	 	11:00 a.m. New York Time
	 
	 	 
	Business Days for Valuation:

	 	New York, London
	 
	 	 
	Cash Settlement Payment Date:

	 	Five Exercise Business Days

following the Exercise Date
	 
	 	 
	Cash Settlement Method:

	 	Cash Price
	 
	 	 
	Cash Settlement Currency:

	 	USD
	 
	 	 
	Cash Settlement Reference Banks:

	 	As defined in the Definitions
	 
	 	 
	Quotation Rate:

	 	Mid
	 
	 	 
	C. ACCOUNT DETAILS
	 	 
	 
	 	 
	Payments to JPMorgan in USD:

	 	JPMORGAN CHASE BANK NA
	

	 	JPMORGAN CHASE BANK NA
	

	 	BIC: CHASUS33XXX
	

	 	AC No: 099997979
	 
	 	 
	Payments to Counterparty in USD:

	 	As per your standard settlement instructions.
	 
	 	 
	D. OFFICES
	 	 
	 
	 	 
	JPMorgan:

	 	NEW YORK
	 
	 	 
	Counterparty:

	 	CINCINNATI

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61

 

	 
	E. DOCUMENTS TO BE DELIVERED

Each party shall deliver to the other, at the time of its execution of this Confirmation, evidence
of the incumbency and specimen signature of the person(s) executing this Confirmation, unless such
evidence has been previously supplied and remains true and in effect.

F. RELATIONSHIP BETWEEN PARTIES

Each party will be deemed to represent to the other party on the date on which it enters into a
Transaction that (absent a written agreement between the parties that expressly imposes affirmative
obligations to the contrary for that Transaction):

(a) Non-Reliance. It is acting for its own account, and it has made its own independent decisions
to enter into that Transaction and as to whether that Transaction is appropriate or proper for it
based upon its own judgment and upon advice from such advisers as it has deemed necessary. It is
not relying on any communication (written or oral) of the other party as investment advice or as a
recommendation to enter into that Transaction; it being understood that information and
explanations related to the terms and conditions of a Transaction shall not be considered
investment advice or a recommendation to enter into that Transaction. No communication (written or
oral) received from the other party shall be deemed to be an assurance or guarantee as to the
expected results of that Transaction.

(b) Assessment and Understanding. It is capable of assessing the merits of and understanding (on
its own behalf or through independent professional advice), and understands and accepts, the terms,
conditions and risks of that Transaction. It is capable of assuming, and assumes the risks of that
Transaction.

(c) Status of Parties. The other party is not acting as a fiduciary for or an adviser to it in
respect of that Transaction.

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62

 

Please confirm that the foregoing correctly sets forth the terms of our agreement by executing a
copy of this Confirmation and returning it to us or by sending to us a letter, telex or facsimile
substantially similar to this letter, which letter, telex or facsimile sets forth the material
terms of the Transaction to which this Confirmation relates and indicates agreement to those terms.
When referring to this Confirmation, please indicate: JPMorgan Deal Number(s): 0500085004641

JPMorgan Chase Bank, N.A.

	 	 	 
	/s/ Carmine Pilla
 	 
	 	 
	 
	Name:

	Carmine Pilla	 
	

	 	 
	 
	Title:

	Vice President	 	 
	

	 	 	 

Accepted and confirmed as of the date

first written:

MILACRON INCORPORATED

	 	 	 
	/s/ John C. Francy	 
	 	 
	 
	Name:

	John C. Francy	 
	

	 	 
	 
	Title:

	VP & Treasurer	 
	 	 	 
	 
	Your reference number:  
	 
	

	 

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63

 

Client Service Group

All queries regarding confirmations should be sent to:

JPMorgan Chase Bank, N.A.

	 	 	 
	Contacts	 	 
	JPMorgan Contact

	 	Telephone Number
	 
	Client Service Group

	 	(001) 3026344960
	 
	Group E-mail address:
	 	 
	Facsimile:

Telex:

	 	(001) 8888033606
	Cable:
	 	 

Please quote the JPMorgan deal number(s): 0500085004641.

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64<PAGE>

                                                                    Exhibit 10.1

                                 NON-NEGOTIABLE

                            REVOLVING PROMISSORY NOTE

$200,000

                                                                  Columbus, Ohio
                                                                November 3, 2004

      FOR VALUE RECEIVED, Superconductive Components, Inc., an Ohio corporation
("Maker"), promises to pay Robert H. Peitz, (hereinafter "Lender"), the sum of
TWO HUNDRED THOUSAND AND 00/100 Dollars ($200,000.00) or so much thereof as
shall have been advanced by Lender at any time and not hereafter repaid
(hereinafter referred to as "Principal Sum") together with interest as
hereinafter provided and payable at the time and in the manner hereinafter
provided. Subject to the terms and conditions set forth below, the proceeds of
the loan evidenced hereby may be advanced in partial amounts during the term of
this revolving note (this "Note"). Each such advance will be made to the Maker
upon receipt by Lender of the Maker's written request therefor.

      SECTION 1. PAYMENT OF INTEREST. Interest will accrue and compound monthly
on the unpaid balance of the Principal Sum until paid at a variable rate of
interest per annum, which shall change in the manner set forth below, equal to
two percentage points (2%) in excess of the Prime Commercial Rate in effect at
Huntington National Bank, Columbus, Ohio ("Prime Rate"). The interest rate shall
adjust automatically without notice to the undersigned immediately with each
change in the Prime Rate.

      SECTION 2. DUE DATE; PAYMENT OF PRINCIPAL SUM. The Principal Sum and
accrued and unpaid interest shall be payable in full on November 1, 2005 (the
"Due Date").

      SECTION 3. ADVANCES. Proceeds of the loan evidenced by this Note, may from
time to time be advanced in whole or in $50,000 increments until the Due Date.
Each advance will be made to Maker upon receipt by Lender of Maker's written
request therefor.

      SECTION 4. WARRANTS. As additional consideration for entering into this
Agreement, the Lender shall receive up to 20,000 warrants to purchase shares of
the Company's common stock at an exercise price of TWO DOLLARS and FIFTY CENTS
($2.50) per share (the "Warrants") which shall vest according to the following
schedule and be exercisable until November 1, 2009.

<TABLE>
<CAPTION>
NUMBER OF WARRANTS               VESTING SCHEDULE               EXERCISE PERIOD
------------------         ----------------------------        -----------------
<S>                        <C>                                 <C>
     10,000                Vested November 3, 2004             November 1, 2009

     10,000                Vesting 5,000 per each              November 1, 2009
                           additional $50,000 loaned
                           to the Company after
                           November 3, 2004 by
                           Mr. Robert H. Peitz pursuant
                           to the Note dated
                           November 3, 2004
</TABLE>

<PAGE>

      SECTION 5. OPTION TO CONVERT LOAN BALANCE. The Lender shall have the
option to convert the loan balance to equity at any time before repayment of the
loan at the same price and terms as any equity financing of the Company equal to
or in excess of $200,000.

      SECTION 6. PREPAYMENT. All or any part of the Principal Sum and accrued
and unpaid interest may be prepaid at any time without prepayment penalty after
providing 15 days written notice to the Lender.

      SECTION 7. DEFAULT. Section 7 of the Security Agreement by and between the
Lender and the Maker is incorporated by reference as if fully restated herein.

      SECTION 8. NON-NEGOTIABLE. This Note is non-negotiable.

      SECTION 9. WAIVER. All of the parties hereto, including the undersigned,
and any indorser, surety, or guarantor, hereby severally waive presentment,
notice of dishonor, protest, notice of protest, and diligence in bringing suit
against any party hereto, and consent that, without discharging any of them, the
time of payment may be extended an unlimited number of times before or after
maturity without notice. Lender shall not be required to pursue any party
hereto, including any guarantor, or to exercise any rights against any
collateral before exercising any other such rights.

      SECTION 10. GOVERNING LAW. This Note shall be governed by and construed in
accordance with the laws of the State of Ohio without reference to choice of law
rules.

      IN WITNESS WHEREOF, the undersigned has caused this Note to be executed on
the day and year first above written.

                                               SUPERCONDUCTIVE COMPONENTS, INC.

                                               By: /s/ Daniel Rooney
                                               --------------------------------
                                                     Daniel Rooney
                                                     President and Chief
                                                     Executive Officer

NON-NEGOTIABLE

                                     - 2 -

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