Document:

Second Amendment to Agreement of Sale and Purchase

 EXHIBIT 10.1 
 SECOND AMENDMENT TO AGREEMENT OF SALE AND PURCHASE 
 THIS SECOND AMENDMENT TO AGREEMENT OF SALE AND PURCHASE (“Second Amendment”) is made this 10th day of April, 2007 between Key Tronic Corporation, a Washington corporation, having an address at North 4424 Sullivan Road, Spokane, Washington 99216 (“Seller”) and ADEVCO
CORPORATION or its nominee, a Georgia corporation, having an address at 3867 Holcomb Bridge Road, Suite 800, Norcross, GA 30092 (“Buyer”). 
 WHEREAS, on December 29, 2006 Seller and Buyer entered into that certain Agreement of Sale and Purchase (the “Agreement”) whereby Seller agreed to sell certain real property and improvements to
Buyer located in Las Cruces, New Mexico and more particularly described in the Agreement; and 
 WHEREAS, on February 28, 2007
the parties entered into that certain First Amendment to Agreement of Sale and Purchase; 
 WHEREAS, the parties have determined that
a portion of the Property consisting of approximately fourteen (14) acres (the “Flood Plain Property”) is currently classified as being in a flood plain by FEMA; 
 WHEREAS, a depiction or description of the Flood Plain Property is attached hereto as Exhibit “A”; 
 WHEREAS, the parties have agreed that Buyer, after Settlement, shall subdivide and convey back to Seller the Flood Plain Property in the event
that the FEMA flood plain designation has not been removed from the Flood Plain Property within one hundred eighty (180) days from the date of Settlement; and 
 WHEREAS, the parties desire to amend the Agreement as more particularly set forth in this Second Amendment. 
 NOW, THEREFORE, in consideration of ten ($10.00) dollars and other good and valuable consideration, the receipt of which is hereby acknowledged, the parties agree as follows: 
  

	 	1.	All terms used herein shall have the meaning ascribed to them in the Agreement. 

	 	2.	Notwithstanding paragraph 2 (ii) of the Agreement to the contrary, within five (5) business days following the expiration of the Due Diligence Period, Buyer shall deposit
the sum of $97,500.00 with the Escrow Agent which sum represents a portion of the Additional Deposit due under the Agreement. At such time as the flood plain designation is removed from the Flood Plain Property, Buyer shall deposit the sum of
$52,500.00 with the Escrow Agent (the “Flood Plain Property Deposit”), which sum represents the balance of the Additional Deposit. 

  

	 	3.	Notwithstanding anything contained in paragraph 2 of the Agreement to the contrary, the Purchase Price, at the Settlement, shall be paid to Seller as follows:

  

	 	(i)	The sum of $2,800,000.00 shall be paid to Seller in cash less the amount of the Deposit that has been previously paid to the Escrow Agent (i.e. $122,500.00).

  

	 	(ii)	Buyer shall execute and deliver to Seller at Settlement a purchase money note (the “Note”) in the amount of $1,482,521.00, which sum represents the balance of the Purchase
Price. In consideration for Buyer acquiring the Flood Plain Property at Settlement with its current flood plain designation, the Note shall not bear any interest. The form of the Note shall be agreed to between the Seller and Buyer prior to the
Settlement and shall contain, inter alia, the provisions set forth in paragraph 4 below. 

  

	 	4.	Buyer shall, at Buyer’s expense, using commercially reasonable efforts pursue having the flood plain designation removed from the Flood Plain Property within one hundred eighty
(180) days following Settlement. Buyer shall promptly provide Seller with copies of all submittals and other documentation relating to the effort to remove the flood plain designation from the Flood Plain Property. To the extent necessary,
Seller shall cooperate with Buyer’s reasonable request to sign applications and/or other submittals or documentation necessary to remove the flood plain designation from the Flood Plain Property. Within forty-five (45) days after the flood
plain designation is removed from the Flood Plain Property, the Note shall become due and Buyer shall pay to Seller, in cash, the sum of $1,482,581.00 less the Flood Plain Property Deposit. However, in the event that Buyer is not able to have the
flood plain designation removed from the Flood Plain Property within one hundred eighty (180) days from the date of Settlement (the “Removal Period”), Buyer shall (a) at Buyer’s expense, immediately cause the Flood Plain
Property to be legally subdivided from the balance of the Property and convey the Flood Plain Property back to Seller and the Note shall be cancelled and immediately be null and void or (b) pay the Note in full within forty-five (45) days
following the end of the Removal Period. Buyer shall have the option to extend the Removal Period for an additional period of one hundred eighty (180) days by paying to Seller the sum of $50,000.00, in cash (the “Option Payment”), on
or before the expiration of the Removal Period which sum is in consideration for the option and is not refundable to Buyer, but if Buyer pays the Option Payment then the principal amount of the Note will be reduced by the amount of the Option
Payment. 

	 	5.	In all other respects, the Agreement, as amended by the First Amendment and this Second Amendment, is hereby ratified and confirmed and shall remain unchanged.

 IN WITNESS WHEREOF, intending to be legally bound, the parties have caused this Second Amendment to be duly executed,
under seal, as of the day and year first written above. 
  

			
	SELLER:
	
	Key Tronic Corporation, a Washington corporation
		
	By:	 	 /s/ Ronald F. Klawitter

		 	Ronald F. Klawitter, Executive Vice-President, Chief Financial Officer and Treasurer

			
	
	BUYER:
	
	ADEVCO CORPORATION, a Georgia corporation
		
	By:	 	 /s/ J. Michael Bell

	Print Name:	 	J. Michael Bell
	Title:	 	Executive Vice President

 EXHIBIT “A” 
 Description or Depiction of Flood Plain PropertyAmendment to employment agreement of Raymond D. Martz

 Exhibit 10.1 
 AMENDMENT TO EMPLOYMENT AGREEMENT 
 This Amendment to Employment Agreement (“Amendment”) is
dated as of the 10th day of April, 2007 by and between EAGLE HOSPITALITY PROPERTIES TRUST, INC., a real estate investment trust formed under the laws of the state of Maryland (“REIT”), and RAYMOND MARTZ
(“Employee”). 
 WITNESSETH: 
 WHEREAS, the REIT and Employee entered into an Employment Agreement, effective as of May 15, 2005 (“Agreement”) and desire to amend the Agreement pursuant to this Amendment. 
 NOW, THEREFORE, effective as of the date of adoption of this Amendment, the parties hereto, in consideration of the promises and premises set forth
herein, agree as follows: 
 1. Section 10(b)(ii) is amended by adding the following language to the end thereof: 
 Employee shall also be entitled to any bonus compensation as provided in section 5(b) to the extent that such bonus compensation has been earned by the Employee. For the
purposes of the previous sentence, the term “earned” shall mean all such bonus compensation that is due and payable to Employee at the time of termination of Employee’s employment with REIT, as determined by the Board of Directors.

 2. Section 10(b)(v) is amended by restating the portion of the section appearing before paragraph (1) to read as follows:

 (v) If, during the Employment Period and within 6 months before or 12 months following a Change in Control any of the following occur:
(I) the REIT (or its successor) terminates the Employee’s employment without Cause pursuant to Section 10(a)(v); or (II) the Employee terminates his employment for Good Reason pursuant to Section 10(d); or (III) the employee is
expected to relocate his home to a location which is more than 50 miles from the then existing corporate headquarters location; then Employee shall be entitled to receive the amounts set forth in paragraphs (1) through (5), as applicable,
below. If such a termination occurs in accordance with subsections (ii) or (iii) above before a Change in Control, then as soon as practicable after the Change in Control a payment shall be made to Employee representing the difference
between the benefits (if any) previously provided to the Employee under subsections (ii) or (iii) and the benefits provided under this subsection (v). If Employee dies before completion of any payments due under this subsection (v), then
any remaining amounts due shall be paid to Employee’s estate. 
 3. Section 10(c)(v)(4) of the Agreement is amended in its entirety
and restated to read as follows: 
 (4) “Qualified Affiliate” shall mean (i) any directly or indirectly wholly owned
subsidiary of the REIT; (ii) any employee benefit plan (or related trust) sponsored or maintained by the REIT or by any entity controlled by the REIT; or (iii) any Person consisting or controlled in whole or in part of or by the Employee,
either alone or in conjunction with one or more other individuals. 

 4. Section 10(d) of the Agreement is amended by deleting the word “substantial” from
clause (ii). 
 5. Section 10(e) shall be added to the Agreement to read as follows: 
 (e) Additional Compensation upon Change in Control 
 (i) If during the Employment Period and on or before January 31, 2008, a Change in Control occurs, and within 6 months before or 12 months after the date of the Change in Control any of the following occur: (I) the REIT (or its
successor) terminates the Employee’s employment without Cause as defined in Section 10(a)(iv); or (II) the Employee terminates employment for Good Reason as defined in Section 10(d); or (III) the employee is expected to relocate his
home to a location which is more than 50 miles from the then existing corporate headquarters location; then the Employee shall be entitled to receive: (1) the benefits described in subsection 10(e)(ii) below, and (2) a lump sum cash
payment equal to the greater of the benefits described in subsection 10(e)(ii) below or the value (determined as of the date of the grant) of Employee’s cash and stock bonus compensation received for 2006 (and paid in February 2007). The
payments provided under this Section 10(e) shall be in addition to any benefits which would otherwise be provided to Employee under Section 10(b)(v) of the Agreement. 
 (ii) The benefits paid in accordance with subsection 10(e)(i) shall include a lump sum cash payment equal to a percentage of the Employee’s
“Applicable Bonus Amount”, as such term is defined in subsection 10(e)(iii). For this purpose, the percentage shall be determined based on the effective date of the Change in Control, as follows: 
  

				
	 If the Change in Control occurs during:
	  	The percentage is:	 
	 1st
Quarter, 2007
	  	25	%
	 2nd
Quarter, 2007
	  	50	%
	 3rd
Quarter, 2007
	  	75	%
	 4th
Quarter, 2007
	  	100	%

 (iii) For the purposes of this subsection 10(e), the “Applicable Bonus Amount” will be
the cash and value of REIT stock which would be payable to Employee as bonus incentive compensation for the 2007 fiscal year, based upon the REIT’s performance through the date of the Change in Control and the incentive compensation plan for
2007 approved by the REIT’s Governance and Compensation Committee. 
 (iv) Payment of benefits described in this Section 10(e) will
be subject to the requirement that the Employee execute the general release described in the last paragraph of Section 10(b)(v) of this Agreement. 

 (v) All benefits described in this Section 10(e) shall be included in the “Control Change
Severance Payment” used to determine the “Gross-Up Amount” for purposes of Section 10(b)(v)(5) of this Agreement. 
 (vi)
The REIT will establish an escrow account, trust fund or other funding arrangement which the REIT may use to meet its liability for payments due to Employee under this Agreement. Employee’s right to payments hereunder will be governed by the
terms of this Agreement and will not be limited to amounts held in any such funding arrangement. 
 6. Reaffirmation. Except as
otherwise set forth herein, the Agreement shall continue unmodified and unamended. 
 IN WITNESS WHEREOF, the undersigned have executed this
Amendment as of the date first above written. 
  

			
	EAGLE HOSPITALITY PROPERTIES TRUST, INC.
		
	By:	 	 /s/ J. William Blackham

	Name:	 	J. William Blackham
	Title:	 	President
	
	 /s/ Raymond Martz

	Raymond Martz

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00121-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00121-of-00352.parquet"}]]