Document:

exv10w26

 

Exhibit 10.26

September 26, 2007

Rajesh Khera

5800 145th Avenue SE

Bellevue WA 98006

Dear Raj,

BSQUARE CORPORATION is pleased to extend to you an offer for employment as our Vice President of
Products. You will be paid bi-weekly at a rate equivalent to an annual salary of $160,000.

In addition you will be eligible to participate in BSQUARE’s executive bonus program. Your annual
bonus potential will be up to 30% of your base salary. Your bonus for 2007 will be pro-rated based
on how many months you are actually employed by BSQUARE in 2007. In 2008 and beyond you will have
full participation in the executive bonus program.

BSQUARE’s executive bonus plan is structured such that the company must achieve certain
profitability targets and you must achieve individual objectives that you and I will agree upon
before you earn any bonus. Bonuses are paid yearly, in the first quarter following the close of
our fiscal year (Q1-2008 will be our next executive bonus payout). Bonuses are paid in a
combination of cash and restricted shares of BSQUARE stock. The cash portion of your bonus will be
up to 25% of your base salary. Any bonus earned above 25% of your base salary will be paid in
restricted BSQUARE shares, 50% of which will vest at the end of the first year after award, with
the remaining 50% vesting at the end of the 2nd year after award. BSQUARE’s executive
bonus plan also allows for you to earn up to 150% of your target bonus (45% of your base salary)
should we exceed profitability targets. The payout ratios between cash and restricted stock would
remain the same in either case.

Bonus payout is at the sole discretion of the CEO and Compensation Committee of our Board of
Directors. You must be employed by BSQUARE at the end of the calendar year to be eligible to
receive any bonus payout.

Your job classification is Executive. You will be hired as an exempt employee, so you will not be
entitled to overtime. You will be a Section 16 Executive, subject to certain BSQUARE stock trading
restrictions and reporting requirements.

BSQUARE CORPORATION extends the following benefits:

	 	•	 	a medical, dental, vision, life and disability plan
	 
	 	•	 	a 401(k) retirement plan, with company matching contributions
	 
	 	•	 	10 paid holidays and 15 days of paid time off
	 
	 	•	 	Options to purchase 25,000 shares of company common stock. Such shares shall be
Incentive Stock Options (ISOs), which vest 25% annually over four years in four equal
installments. The strike price shall be the closing price of BSQUARE stock on your first
day of employment. Stock options shall expire after 10 years.
	 
	 	•	 	Because we anticipate that you will be a heavy wireless user in the course of conducting
BSQUARE business, you will be given use of a company mobile phone, and will be placed on
the company wireless plan.

Additionally, if after 90 days of employment in good-standing with BSQUARE, your employment with
BSQUARE is terminated when neither “cause” nor “long term disability” exists, and provided that you
release BSQUARE Corporation and its agents from any and all employment-related claims in a signed,
written release satisfactory in form and substance to BSQUARE Corporation, BSQUARE Corporation
shall pay you a consideration payment as follows:

 

 

BSQUARE Corporation shall pay to you severance equal to four months of your then annual base
salary from your termination date. If BSQUARE Corporation gives you at least a full month’s
advance notice of termination, however, the severance payments shall be reduced by one
month’s salary for each full month of advance termination notice given. These severance
payments shall be paid out at the rate of your final base salary on regular payroll days
post termination, subject to legally required and any individually agreed upon payroll
deductions. During the period subsequent to your termination date in which you are being
paid the severance amounts defined previously, you would not be considered an
employee and would therefore receive no Paid Time Off accrual, nor would you be entitled to
benefits under BSQUARE’s health and welfare plans or retirement savings plan as an active
employee. Your stock options will continue to vest until 180 calendar days from our
termination date. You will then have ninety days in which to exercise any vested options,
and any non-vested options would terminate.

For purposes of the severance provision indicated above, “cause” is defined on attachment A hereto,
and “long term disability” is defined in our sponsored Long Term Disability group insurance plan.

BSQUARE CORPORATION is an established company with a promising outlook. Your meaningful
participation will greatly enhance our ability to retain our current business relationships and,
will enable BSQUARE CORPORATION to pursue and secure business in the future. YOUR EMPLOYMENT IS
AT-WILL AND ACCORDINGLY, YOU OR BSQUARE CORPORATION MAY TERMINATE THIS EMPLOYMENT RELATIONSHIP AT
ANY TIME WITH OR WITHOUT NOTICE OR CAUSE.

This offer is contingent upon compliance with the Immigration Reform and Control Act of 1986. The
Act requires you to establish your identity and employment eligibility. To do so, on your start
date you will be required to complete Section I of the Employment Eligibility Verification Form,
I-9. This offer is also contingent on your acceptance and return of the BSQUARE Proprietary
Rights Agreement provided herewith.

Please signify your acceptance of this offer by signing a copy of this letter and the attached
Proprietary Rights Agreement and returning both by September 27th, 2007. As we have discussed,
your start date is under discussion and to be mutually agreed upon by both of us.

On behalf of BSQUARE CORPORATION, I am really excited to have you on board! If you have any
questions or concerns, please feel free to contact me.

	 	 	 	 	 	 	 	 	 	 	 
	Sincerely,

	 	 	 	 	 	Accepted By:	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	/s/ Brian T. Crowley
	 	9/26/07	 	 	 	/s/ Rajesh Khera	 	9/27/07	 	 
	 	 	 	 	 	 	 
	Brian Crowley

	 	Date
	 	 	 	Rajesh Khera
	 	Date	 	 
	Chief Executive Officer

BSQUARE Corporation
	 	 	 	 	 	 	 	 	 	 

 

 

ATTACHMENT A

     For purposes of this agreement “cause” means and is limited to dishonesty, fraud, commission
of a felony or of a crime involving moral turpitude, destruction or theft of Company property,
physical attack to a fellow employee, intoxication at work, use of controlled substances or alcohol
to an extent that materially impairs Employee’s performance of his or her duties, willful
malfeasance or gross negligence in the performance of Employee’s duties, violation of law in the
course of employment that has a material adverse impact on Company or its employees, Employee’s
failure or refusal to perform Employee’s duties, Employee’s failure or refusal to follow reasonable
instructions or directions, misconduct materially injurious to Company, neglect of duty, poor job
performance, or any material breach of Employee’s duties or obligations to Company that results in
material harm to Company.

     For purposes of this agreement, “neglect of duty” means and is limited to the following
circumstances: (i) Employee has, in one or more material respects, failed or refused to perform
Employee’s job duties in a reasonable and appropriate manner (including failure to follow
reasonable directives), (ii) the supervisor, or a duly appointed representative of the supervisor,
has counseled Employee in writing about the neglect of duty and given Employee a reasonable
opportunity to improve, and (iii) Employee’s neglect of duty either has continued at a material
level after a reasonable opportunity to improve or has reoccurred at a material level within one
year after Employee was last counseled.

     For purposes of this agreement, “poor job performance” means and is limited to the following
circumstances: (i) Employee has, in one or more material respects, failed to perform Employee’s
job duties in a reasonable and appropriate manner, (ii) the supervisor, or a duly appointed
representative of the supervisor, has counseled Employee in writing about the performance problems
and given Employee a reasonable opportunity to improve, and (iii) Employee’s performance problems
either have continued at a material level after a reasonable opportunity to improve or the same or
similar performance problems have reoccurred at a material level within one year after Employee was
last counseled.exv10w28

 

Exhibit 10.28

EXECUTION VERSION

     THIS FIRST AMENDMENT AGREEMENT is dated as of the 21st day of December, 2007.

B E T W E E N:

WASTE MANAGEMENT OF CANADA CORPORATION

a Nova Scotia unlimited liability company

as Borrower

- and -

THE GUARANTORS FROM TIME TO TIME PARTY

TO THE CREDIT AGREEMENT

as Guarantors

- and -

THE LENDERS FROM TIME TO TIME PARTY

TO THE CREDIT AGREEMENT

as Lenders

- and -

THE BANK OF NOVA SCOTIA

a bank to which the Bank Act (Canada) applies,

in its capacity as administrative agent hereunder

as Administrative Agent

RECITALS:

	A.	 	The Borrower, the Guarantors, the Agent and the Lenders are parties to a Credit Agreement
dated as of 30 November 2005 (the “Existing Credit Agreement”).
	 
	B.	 	The Borrower and the Lenders have agreed to certain amendments to the terms and conditions in
the Existing Credit Agreement and the parties are entering into this First Amendment Agreement
to give effect thereto and to the other matters set forth herein.

     NOW THEREFORE in consideration of the premises and for other good and valuable consideration,
the receipt and adequacy of which are hereby acknowledged, and intending to be legally bound
hereby, the parties agree as follows:

 

First Amendment Agreement

 

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Section 1 – Amendment to Definitions

(a) The following provision is added as Section 1.1.45.1:

	 	1.1.45.1	 	"First Amendment Agreement” means the first amendment agreement to this
Agreement dated as of December 21, 2007.

(b) Section 1.1.59 of the Existing Credit Agreement is deleted and replaced with the following
provision:

	 	1.1.59	 	"Maturity Date” means 30 November 2012.

Section 2 – Amendment to the Credit

(a) Section 2.1 of the Existing Credit Agreement is deleted and replaced with the following
provision:

	 	2.1	 	Amount and Availment Options
	 
	 	(1)	 	Upon and subject to the terms and conditions of this Agreement, the
Lenders severally agree to provide to the Borrower a non-revolving term credit
facility (the “Credit”) for the use of the Borrower in the amount of up to Cdn.
$340,000,000 (provided that each Lender’s obligation hereunder shall be limited
to its respective Applicable Percentage of the Credit).
	 
	 	(2)	 	At the option of the Borrower, the Credit may be utilized by the
Borrower by requesting that Prime Rate Advances be made by the Lenders or by
presenting orders to a Lender for acceptance as Banker’s Acceptances.

(b) Section 2.2 of the Existing Credit Agreement is deleted and replaced with the following
provision:

	 	2.2	 	The Credit is a non-revolving credit. The principal amount of any
Advance under the Credit which is repaid from time to time may not be
reborrowed. The Cdn. $35,000,000 increase to the Credit provided for in the
First Amendment Agreement shall be available in no more than two Advances,
during the period from the date of this Agreement to and including 31 January
2008 (the “Availability Period”). Any unused portion of the Credit after the
Availability Period will be immediately cancelled.

Section 3 – New Section 2.9

     The Existing Credit Agreement is amended by adding the following provision as Section 2.9:

 

First Amendment Agreement

 

- 3 -

	 	2.9	 	Uncommitted Increase Amount
	 
	 	(1)	 	The Borrower may request that the Credit be increased for specified
uses by an aggregate amount not to exceed Cdn. $25,000,000 (the “Uncommitted
Facility Increase”). This is an uncommitted credit facility and no Lender has
any obligation to the Borrower to provide any Advance thereunder except as set
forth in this Section 2.9. The Borrower agrees that it shall deliver a request
to the Agent under Section 2.9(3) prior to agreeing to obtain additional
financing from any other bank or commercial lender.
	 
	 	(2)	 	At any time prior to the maturity date of the Credit and provided that
there exists no Pending Event of Default or Event of Default which is
continuing, the Borrower may provide to the Agent a request (a “Commitment
Request”) for the Lenders to commit to provide the amount under the Uncommitted
Facility Increase, it being understood and agreed that the Borrower shall be
entitled to one such request only.
	 
	 	(3)	 	Such increase requested will be subject to obtaining commitments from
new or existing Lenders on terms, other than upfront fees, identical to those
in this Agreement for the Credit.
	 
	 	(4)	 	The Commitment Request shall be given not less than 30 days prior to
the date of effectiveness of the proposed Commitment Increase.
	 
	 	(5)	 	The Commitment Request shall include (a) the aggregate amount of the
commitment being requested (the “Requested Amount”), and (b) the upfront fee
the Borrower is prepared to pay in relation to the Requested Amount, (c) the
date of the proposed first Advance under the Commitment Request.
	 
	 	(6)	 	The Agent shall forward to each Lender, promptly after receipt thereof,
a copy of the Commitment Request together with a request that each Lender
respond to the Agent in relation thereto. Each Lender shall determine, in its
sole and unfettered discretion, whether it wishes to commit its pro rata share
of the Requested Amount and provide the Agent its response in that regard not
later than seven Business Days following the day upon which the Lender provided
notice of the Commitment Request to the Agent, with any failure by a Lender to
so respond being deemed to be a refusal to provide its pro rata share of the
Requested Amount.
	 
	 	(7)	 	The Agent shall promptly after such seventh Business Day provide a
notice to the Borrower and each Lender which specifies (a) the identity of the
Lenders that have agreed to provide a commitment under the Commitment Request
(the “Committing Lenders”), (b) the aggregate amount committed to by the
Committing Lenders, (c) in the event that

 

First Amendment Agreement

 

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the aggregate amount committed to by the Committing Lenders is less than
the Requested Amount (such shortfall being the “Commitment Deficit”), an
invitation to each Committing Lender to commit, in its sole and
unfettered discretion, to increase its commitment by its pro rata share
of the Commitment Deficit, and (d) the date upon which each Committing
Lender is required to provide to the Agent its response in that regard,
which, in any event, shall not be later than four Business Days
following the day upon which the Agent provided notice of the
opportunity to participate in the Commitment Deficit, with any failure
by a Committing Lender to so respond being deemed to be a refusal to
provide its pro rata share of the Commitment Deficit.

	 	(8)	 	The Agent shall promptly after such fourth Business Day provide a
notice (the “Existing Lender Notice”) to the Borrower and each Lender which
specifies (a) the aggregate amount committed to by the Committing Lenders, (b)
the allocation of the such aggregate amount committed to among the Committing
Lenders, (c) the date such new commitment is to become effective, (d) the
difference, if any between the Requested Amount and the aggregate amount
committed to by the Committing Lenders (the “Remaining Deficit”), and (e) such
other matters as the Agent may, in its discretion, include.
	 
	 	(9)	 	Following receipt by the Borrower of the Existing Lender Notice
indicating the existence of a Remaining Deficit, the Borrower may invite one or
more banks or other commercial lenders (who are not then Lenders), to provide
all or a portion of the Remaining Deficit. The aggregate amount committed to by
the Committing Lenders together with any commitment in relation to the
Remaining Deficit as contemplated in this subsection, is referred to herein as
a “New Commitment”.
	 
	 	(10)	 	Once the amount of the New Commitment is determined in accordance with
Section 2.9(10), the Credit shall be deemed to be increased by such amount. It
is acknowledged and agreed that:

	 	(a)	 	the New Commitment shall be subject to the
terms and conditions of this Agreement (as amended, modified and
supplemented to such time); and
	 
	 	(b)	 	that each Obligor, effective as of the time of
the initial Advance under the New Commitment, shall be deemed to
have:

	 	(i)	 	confirmed that the
representations and warranties made in Section 6.1 of this
Agreement, other than those expressly stated to be made as
of a specific date or otherwise expressly modified pursuant
to the provisions

 

First Amendment Agreement

 

- 5 -

of Section 6.2 of this Agreement, to be true and correct
on and as of the date thereof including, without
limitation, that there has occurred no Event of Default
or Pending Event of Default which is continuing;

	 	(ii)	 	agreed that, except as amended in
relation to the New Commitment, this Agreement remains in
full force and effect, without amendment, and that it has
ratified and confirmed this Agreement; and
	 
	 	(iii)	 	agreed that, without in any way
limiting the terms of this Agreement or any other Loan
Document, it has confirmed that the Security made or granted
by it pursuant to this Agreement remains in full force and
effect notwithstanding the arrangements effected in relation
to the New Commitment and that such Security shall continue
to secure or support all of the Obligations and all other
the debts, liabilities and obligations described as being so
supported in the Security, including but not limited to
those debts, liabilities and obligations arising as a result
of the New Commitment.

	 	(11)	 	The transactions arising from the Commitment Request shall be completed
within 15 days after the Agent delivers the Existing Lender Notice. In
connection therewith, and prior to or concurrent with the initial Advance under
the New Commitment:

	 	(a)	 	the Borrower and each other Obligor shall,
promptly do, make, execute or deliver, or cause to be done, made,
executed or delivered, all such further acts, documents and things
as the Agent may reasonably request including, without limitation
providing documentation parallel in scope to the documentation
described in Sections 4.1(2) and 4.1(3);
	 
	 	(b)	 	pay any related fees in relation to the New
Commitment; and
	 
	 	(c)	 	the Agent shall circulate a revised Schedule E
to this Agreement to the Borrower and each of the Lenders.

	 	(12)	 	For greater certainty, no approval of any Commitment Request shall be
required from any Lender which is not a Committing Lender.

Section 4 – Amendment to Schedule E of Existing Credit Agreement

     Schedule E to the Existing Credit Agreement is deleted and replaced by Schedule E to this
First Amendment Agreement.

 

First Amendment Agreement

 

- 6 -

Section 5 – Conditions Precedent to Effectiveness of this First Amendment Agreement

     This First Amendment Agreement shall become binding on the Lenders only upon satisfaction of
the following conditions precedent:

	 	(a)	 	execution and delivery of this First Amendment Agreement by each of the
Borrower and the Guarantors;
	 
	 	(b)	 	execution and delivery of this First Amendment Agreement by the Lenders in
accordance with Section 9.7 of the Existing Credit Agreement;
	 
	 	(c)	 	no Event of Default or Pending Event of Default having occurred and being
continuing as at the date of satisfaction of all of the foregoing conditions precedent;
	 
	 	(d)	 	the Agent having received an amendment fee equal to 0.10% of the amount of the
Credit, being Cdn. $340,000, for the account of each consenting Lender in proportion to
each Lender’s Commitment as set forth in Schedule E;
	 
	 	(e)	 	the Agent having received the favourable opinions of such Ontario and foreign
counsel to the Borrower and the Guarantors as it may reasonably require, in relation to
the enforceability of this First Amendment Agreement; and
	 
	 	(f)	 	the Agent having received such corporate resolutions, incumbency and other
certificates of each of the Borrower and the Guarantors as the Agent may reasonably
request in connection with this First Amendment Agreement and the transactions
contemplated hereby.

Section 6 – Representations and Warranties of the Obligors

     Each of the Obligors acknowledge that this First Amendment Agreement is a Loan Document and
that all of their respective representations and warranties concerning Loan Documents that are
contained in the Existing Credit Agreement apply to this First Amendment Agreement and are deemed
to be repeated on their execution of this First Amendment Agreement as if set out in full in this
First Amendment Agreement. The other representations and warranties made in Section 6.1 of the
Existing Credit Agreement, other than those expressly stated to be made as of a specific date or
otherwise expressly modified pursuant to the provisions of Section 6.2 of the Existing Credit
Agreement, are true and correct on and as of the date hereof with the same force and effect as if
such representations and warranties had been made on and as of the date hereof, but subject to the
same qualifications as are contained in Section 6.2 of the Existing Credit Agreement.

Section 7 – Continuing Effect of Existing Credit Agreement

     Except as amended by this First Amendment Agreement, the Existing Credit Agreement shall
remain in full force and effect, without amendment, and is hereby ratified and confirmed. Without
in any way limiting the terms of the Existing Credit Agreement or any other Loan Document, each
Obligor confirms that the Security made or granted by it pursuant to the

 

First Amendment Agreement

 

- 7 -

Existing Credit Agreement remains in full force and effect notwithstanding the amendments to
the Existing Credit Agreement contained herein and that such Security shall continue to secure or
support all of the Obligations and all other the debts, liabilities and obligations described as
being so supported in the Security, including but not limited to those debts, liabilities and
obligations arising as a result of this First Amendment Agreement.

Section 8 – Further Assurances

     The Borrower shall promptly do, make, execute or deliver, or cause to be done, made, executed
or delivered, all such further acts, documents and things as the Agent may require from time to
time for the purposes of giving effect to this First Amendment Agreement and shall use reasonable
efforts and take all such steps as may be within its power to implement, to the full extent, the
provisions of this First Amendment Agreement.

Section 9 – Counterparts and Facsimile

     This First Amendment Agreement may be executed in any number of counterparts, each of which
when executed and delivered shall be deemed to be an original, and such counterparts together shall
constitute one and the same agreement. For the purposes of this Section, the delivery of a
facsimile copy of an executed counterpart of this First Amendment Agreement shall be deemed to be
valid execution and delivery thereof.

Section 10 – Governing Law

     The parties agree that this First Amendment Agreement shall be conclusively deemed to be a
contract made under, and shall for all purposes be governed by and construed in accordance with,
the laws of the Province of Ontario and the laws of Canada applicable in the Province of Ontario.

Section 11 – Interpretation

     Capitalized terms used herein, unless otherwise defined or indicated herein, have the
respective meanings defined in the Existing Credit Agreement. This First Amendment Agreement and
the Existing Credit Agreement shall be read together and have effect so far as practicable as
though the provisions thereof and the relevant provisions hereof are contained in one document.

Section 12 – Effective Date

     This First Amendment Agreement may be referred to as being dated as of December 21, 2007,
notwithstanding the actual date of execution by the parties hereto as set forth on their respective
signing pages.

[EXECUTION PAGES FOLLOW]

 

First Amendment Agreement

 

- S1 -

     IN WITNESS WHEREOF, the parties have duly executed this First Amendment Agreement as of the
21st day of December, 2007.

	 	 	 	 	 
	 	THE BANK OF NOVA SCOTIA, as Agent

 	 
	 	By:  	/s/ R. J. BOOMHOUR
 	 
	 	 	R. J. Boomhour 	 
	 	 	Director 	 
	 
	 	 	 
	 	By:  	/s/ J. QI
 	 
	 	 	J. Qi 	 
	 	 	Associate 	 
	 

[signature page for First Amendment Agreement to Credit Agreement relating to Waste Management of
Canada Corporation et al.]

 

First Amendment Agreement

 

- S2 -

     IN WITNESS WHEREOF, the parties have duly executed this First Amendment Agreement as of the
21st day of December, 2007.

	 	 	 	 	 
	 	WASTE MANAGEMENT OF CANADA CORPORATION

 	 
	 	By:  	/s/ CHERIE C. RICE
 	 
	 	 	Cherie C. Rice 	 
	 	 	Vice President and Treasurer 	 
	 
	 	 	 
	 	By:  	/s/ DAVID LAPAUL
 	 
	 	 	David LaPaul 	 
	 	 	Assistant Treasurer 	 
	 

[signature page for First Amendment Agreement to Credit Agreement relating to Waste Management of
Canada Corporation et al.]

 

First Amendment Agreement

 

- S3 -

     IN WITNESS WHEREOF, the parties have duly executed this First Amendment Agreement as of the
21st day of December, 2007.

	 	 	 	 	 
	 	WASTE MANAGEMENT, INC.

 	 
	 	By:  	/s/ CHERIE C. RICE
 	 
	 	 	Cherie C. Rice 	 
	 	 	Vice President-Finance & Treasurer 	 
	 
	 	 	 
	 	By:  	/s/ DAVID LAPAUL
 	 
	 	 	David LaPaul 	 
	 	 	Assistant Treasurer 	 
	 

[signature page for First Amendment Agreement to Credit Agreement relating to Waste Management of
Canada Corporation et al.]

 

First Amendment Agreement

 

- S4 -

     IN WITNESS WHEREOF, the parties have duly executed this First Amendment Agreement as of the
21st day of December, 2007.

	 	 	 	 	 
	 	WASTE MANAGEMENT HOLDINGS, INC.

 	 
	 	By:  	/s/ CHERIE C. RICE
 	 
	 	 	Cherie C. Rice 	 
	 	 	Vice President and Treasurer 	 
	 
	 	 	 
	 	By:  	/s/ DAVID LAPAUL
 	 
	 	 	David LaPaul 	 
	 	 	Assistant Treasurer 	 
	 

[signature page for First Amendment Agreement to Credit Agreement relating to Waste Management of
Canada Corporation et al.]

 

First Amendment Agreement

 

- S5 -

     IN WITNESS WHEREOF, the parties have duly executed this First Amendment Agreement as of the
21st day of December, 2007.

	 	 	 	 	 
	 	BNP PARIBAS (CANADA)

 	 
	 	By:  	/s/ ANDREW SCLATER
 	 
	 	 	Andrew Sclater 	 
	 	 	Vice President 	 
	 
	 	 	 
	 	By:  	/s/ COLIN DICKINSON
 	 
	 	 	Colin Dickinson 	 
	 	 	Director 	 
	 

[signature page for First Amendment Agreement to Credit Agreement relating to Waste Management of
Canada Corporation et al.]

 

First Amendment Agreement

 

- S6 -

     IN WITNESS WHEREOF, the parties have duly executed this First Amendment Agreement as of the
21st day of December, 2007.

	 	 	 	 	 
	 	THE BANK OF NOVA SCOTIA, as Lender

 	 
	 	By:  	/s/ D. MALONEY
 	 
	 	 	D. Maloney 	 
	 	 	Director, Credit Solutions 	 
	 
	 	 	 
	 	By:  	/s/ J. HOLZSCHERER
 	 
	 	 	J. Holzscherer 	 
	 	 	Senior Credit Solutions Manager 	 
	 

[signature page for First Amendment Agreement to Credit Agreement relating to Waste Management of
Canada Corporation et al.]

 

First Amendment Agreement

 

- S7 -

     IN WITNESS WHEREOF, the parties have duly executed this First Amendment Agreement as of the
21st day of December, 2007.

	 	 	 	 	 
	 	BANK OF AMERICA, NATIONAL 

ASSOCIATION (CANADA BRANCH)

 	 
	 	By:  	/s/ MEDINA SALES DE ANDRADE
 	 
	 	 	Medina Sales De Andrade 	 
	 	 	Vice President 	 
	 

[signature page for First Amendment Agreement to Credit Agreement relating to Waste Management of
Canada Corporation et al.]

 

First Amendment Agreement

 

- S8 -

     IN WITNESS WHEREOF, the parties have duly executed this First Amendment Agreement as of the
21st day of December, 2007.

	 	 	 	 	 
	 	MIZUHO CORPORATE BANK, LTD.

 	 
	 	By:  	/s/ HIRONOBU SHIRAISHI
 	 
	 	 	Hironobu Shiraishi 	 
	 	 	Joint General Manager 	 
	 

[signature page for First Amendment Agreement to Credit Agreement relating to Waste Management of
Canada Corporation et al.]

 

First Amendment Agreement

 

- S9 -

     IN WITNESS WHEREOF, the parties have duly executed this First Amendment Agreement as of the
21st day of December, 2007.

	 	 	 	 	 
	 	ABN AMRO BANK N.V.

(CANADA BRANCH)

 	 
	 	By:  	/s/ AMY MACDONALD
 	 
	 	 	Amy MacDonald 	 
	 	 	Manager 	 
	 
	 	 	 
	 	By:  	/s/ L. GEOFFREY MORPHY
 	 
	 	 	Geoffrey Morphy 	 
	 	 	Senior Vice President 	 
	 

[signature page for First Amendment Agreement to Credit Agreement relating to Waste Management of
Canada Corporation et al.]

 

First Amendment Agreement

 

- S10 -

     IN WITNESS WHEREOF, the parties have duly executed this First Amendment Agreement as of the
21st day of December, 2007.

	 	 	 	 	 
	 	SUMITOMO MITSUI BANKING 

CORPORATION OF CANADA

 	 
	 	By:  	/s/ ELWOOD LANGLEY
 	 
	 	 	Elwood Langley 	 
	 	 	Senior Vice President 	 
	 

[signature page for First Amendment Agreement to Credit Agreement relating to Waste Management of
Canada Corporation et al.]

 

First Amendment Agreement

 

- S11 -

     IN WITNESS WHEREOF, the parties have duly executed this First Amendment Agreement as of the
21st day of December, 2007.

	 	 	 	 	 
	 	U.S. BANK NATIONAL ASSOCIATION,

CANADA BRANCH

 	 
	 	By:  	/s/ Signature Illegible
 	 
	 	 	 	 
	 	 	 	 
	 

[signature page for First Amendment Agreement to Credit Agreement relating to Waste Management of
Canada Corporation et al.]

 

First Amendment Agreement

 

- S12 -

     IN WITNESS WHEREOF, the parties have duly executed this First Amendment Agreement as of the
21st day of December, 2007.

	 	 	 	 	 
	 	JPMORGAN CHASE BANK, NATIONAL

ASSOCIATION, TORONTO BRANCH

 	 
	 	By:  	/s/ MUHAMMAD HASAN
 	 
	 	 	Muhammad Hasan 	 
	 	 	Vice President 	 
	 

[signature page for First Amendment Agreement to Credit Agreement relating to Waste Management of
Canada Corporation et al.]

 

First Amendment Agreement

 

- S13 -

     IN WITNESS WHEREOF, the parties have duly executed this First Amendment Agreement as of the
21st day of December, 2007.

	 	 	 	 	 
	 	COMERICA BANK

 	 
	 	By:  	/s/ DE VON LANG
 	 
	 	 	De Von Lang 	 
	 	 	Corporate Banking Officer 	 
	 

[signature page for First Amendment Agreement to Credit Agreement relating to Waste Management of
Canada Corporation et al.]

 

First Amendment Agreement

 

SCHEDULE E

APPLICABLE PERCENTAGES OF LENDERS

[see references in Section 1.1]

	 	 	 	 	 	 	 
	 	 	 	 	Applicable
	Lender	 	Commitment	 	Percentage
	 
	 	 	 	 	 	 
	The Bank of Nova Scotia

	 	Cdn. $84,231,000
	 	 	24.774	%
	 
	 	 	 	 	 	 
	BNP Paribas (Canada)

	 	Cdn. $62,430,000
	 	 	18.362	%
	 
	 	 	 	 	 	 
	Mizuho Corporate Bank, Ltd.

	 	Cdn. $41,499,000
	 	 	12.206	%
	 
	 	 	 	 	 	 
	U.S. Bank National Association

	 	Cdn. $41,741,000
	 	 	12.277	%
	 
	 	 	 	 	 	 
	Bank of America, National Association

	 	Cdn. $37,459,000
	 	 	11.017	%
	 
	 	 	 	 	 	 
	ABN AMRO Bank N.V.

	 	Cdn. $26,036,000
	 	 	7.658	%
	 
	 	 	 	 	 	 
	Sumitomo Mitsui Banking Corporation of
Canada

	 	Cdn. $20,733,000
	 	 	6.098	%
	 
	 	 	 	 	 	 
	JPMorgan Chase Bank, National Association

	 	Cdn. $16,557,000
	 	 	4.870	%
	 
	 	 	 	 	 	 
	Comerica Bank

	 	Cdn. $9,314,000
	 	 	2.739	%
	 

	 	 
	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	Cdn. $340,000,000
	 	 	100	%

 

First Amendment Agreement

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00136-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00136-of-00352.parquet"}]]