Document:

exv10w2

 

Exhibit 10.2

REVOLVING NOTE

	 	 	 
	$5,500,000

	 	St. Louis, Missouri
	 

	 	March 13, 2006

     FOR VALUE RECEIVED, the undersigned, SYNERGETICS, INC., a Missouri corporation (“Synergetics”)
and SYNERGETICS USA, INC., a Delaware corporation (“Synergetics USA”) (individually, a “Borrower”
and together, the “Borrowers”), hereby jointly and severally promise to pay on the Termination Date
to the order of Regions Bank (the “Lender”), at its main office in St. Louis, Missouri, or at any
other place designated at any time by the holder hereof, in lawful money of the United States of
America and in immediately available funds, the principal sum of Five Million Five Hundred Thousand
and 00/100 ($5,500,000) or, if less, the aggregate unpaid principal amount of all
Advances made by the Lender to the Borrowers under the Credit Agreement (defined below), together
with interest on the principal amount hereunder remaining unpaid from time to time, computed on the
basis of the actual number of days elapsed and a 360-day year, from the date hereof until this Note
is fully paid at the rate from time to time in effect under the Credit and Security Agreement of
even date herewith (the “Credit Agreement”) by and between the Lender and the Borrowers. The
principal hereof and interest accruing thereon shall be due and payable as provided in the Credit
Agreement. This Note may be prepaid only in accordance with the Credit Agreement.

     This Note is issued pursuant, and is subject, to the Credit Agreement, which provides, among
other things, for acceleration hereof. This Note is the Revolving Note referred to in the Credit
Agreement.

     This Note, among other things, is secured pursuant to the Credit Agreement and the Security
Documents as therein defined, and may now or hereafter be secured by one or more other security
agreements, mortgages, deeds of trust, assignments or other instruments or agreements.

     The Borrowers hereby agree to pay all costs of collection, including attorneys’ fees and legal
expenses in the event this Note is not paid when due, whether or not legal proceedings are
commenced.

     Presentment or other demand for payment, notice of dishonor and protest are expressly waived.

     This Note shall be governed by the internal substantive laws of the State of Missouri, without
regard for its conflicts-of-law principles.

     ORAL AGREEMENTS OR COMMITMENTS TO LOAN MONEY, EXTEND CREDIT OR TO FORBEAR FROM ENFORCING
REPAYMENT OF A DEBT INCLUDING PROMISES TO EXTEND OR RENEW SUCH DEBT ARE NOT ENFORCEABLE, REGARDLESS
OF THE LEGAL THEORY UPON

 

 

WHICH IT IS BASED, THAT IS IN ANY WAY RELATED TO THE CREDIT AGREEMENT. TO PROTECT YOU
(BORROWERS) AND US (LENDER) FROM MISUNDERSTANDING OR DISAPPOINTMENT, ANY AGREEMENTS WE REACH
COVERING SUCH MATTERS ARE CONTAINED IN THE CREDIT AGREEMENT AND THE LOAN DOCUMENTS REFERRED TO
THEREIN, WHICH ARE THE COMPLETE AND EXCLUSIVE STATEMENTS OF THE AGREEMENT BETWEEN US, EXCEPT AS WE
MAY LATER AGREE IN WRITING TO MODIFY IT.

	 	 	 	 	 	 	 
	 	 	BORROWERS:	 	 
	 
	 	 	 	 	 	 
	 	 	SYNERGETICS, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	BY:
	 	/s/ Pamela G. Boone	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	NAME: Pamela G. Boone	 	 
	 

	 	 	 	TITLE: Chief Financial Officer	 	 
	 
	 	 	 	 	 	 
	 	 	and	 	 
	 
	 	 	 	 	 	 
	 	 	SYNERGETICS USA, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	BY:
	 	/s/ Pamela G. Boone	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	NAME: Pamela G. Boone	 	 
	 

	 	 	 	TITLE: Chief Financial Officer<PAGE>
                                                                   Exhibit 10.17

                              MANAGEMENT AGREEMENT

This Management Agreement (the "Agreement") is made as of the 1st day of August,
2002 by an among The Australia Traffic Network PTY Limited, a company registered
under the Corporation Law of New South Wales (referred to herein as the
"Company") and Wisconsin Information Systems, dba Milwaukee Traffic Network
(referred to herein as "MTN") an Ohio Corporation.

                                    RECITALS:

     A.   The Company was formed in June of 1997 for the purpose of providing
          airborne traffic reporting services to radio and television stations
          in Australia.

     B.   The Company had no expertise in the areas of airborne traffic
          reporting services, network selling and all related support for such a
          business.

     C.   MTN had developed traffic reporting services in the United States and
          was skilled in all areas of the traffic reporting business.

     D.   The Agreement dated September 29th 1997 by and among all of the
          shareholders of the Company provided that the primary shareholders of
          MTN would provide management services to the Company in exchange for
          consideration.

NOW, Therefore, for and in consideration of the premises, and other goad and
valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, and in further consideration of the agreements herein made, the
undersigned parties do hereby agree as follows:

1) SERVICES

MTN will provide management services to the Company which will include but not
be limited to locating and training reporting staff, hiring and training sales
staff, maintaining the books and records of the company, establishing budgets,
providing financing for implementation and growth, creating inventory management
and billing systems and day to day management of the local staff. MTN will
provide the services of Dale Arfman, Tom Gilligan, William Yde, Ken Casseri,
Debra Barton, Don Bussell, or any other individuals as needed to accomplish the
business requirements as determined by MTN in its sole discretion. Compensation
to any individuals or employees of MTN will be the responsibility of MTN.

2) COMPENSATION

In exchange for the services provided, MTN will receive a monthly management fee
in the amount of $45,000 AUD per month until June 30, 2003. The management fee
will be due and payable on me first of each month and will be payable in
advance. Commencing July 1, 2003, the management fee will be reviewed
periodically by the board of directors of the Company. Any changes in the
management fee will be commensurate with the changes in the duties, time
required and will the increase in the business level of the company.

3) EXPENSES

Any expenses incurred by MTN or any MTN employee will be reimbursed directly by
the Company upon presentment of invoices detailing such expenses.

<PAGE>

3) TERM

This Agreement will commence on July 1, 2002 and continue for a period of five
years unless terminated earlier by the board of directors of the Company.

4) DECISION MAKING AUTHORITY

Notwithstanding the services provided MTN, all decisions regarding the ordinary
day to day operations of the Company shall be made by the Managing Director of
the Company. All decisions regarding any matters other than day to day
operations of the Company shall be made by a majority of the Board of Directors.

5) MERGER CLAUSE

This Agreement represents the entire agreement of the parties hereto and
supersedes all prior agreements, understandings and negotiations concerning the
subject matter hereof.

6) MISCELLANEOUS

This agreement shall not be amended except pursuant to a written instrument
executed by all of the parties hereto. If any provision of this Agreement, or
the application of any such provision be held invalid by a court of competent
jurisdiction, the remainder of this Agreement shall not be affected thereby. No
modification or waiver of any provision of this Agreement shall be effective
unless in writing and signed by the party against whore such modification or
waiver is asserted.

7) NOTICES

All notices or other communications required or permitted by this Agreement
shall be sufficiently given if in writing, and i) personally delivered, by any
courier service, ii) mailed first class postage, or iii) sent by facsimile
transmission with an accompanying telephone call to the person being noticed.
For purposes of this Agreement, the following addresses, telephone number and
FAX numbers shall be used:

The Australia Traffic Network PTY Limited, Level 39 100 Miller Street! North
Sydney Austria 2060, FAX 02 9955 9301 TELEPHONE 02 9955 3500

Milwaukee Traffic Network, 9726 Gulfstream Dr. Fishers, Indiana 46038. TELEPHONE
317 570 8831 FAX 317 570 8832

Any of the above addresses may be changed by notice to the other parties as
described in this section.

<PAGE>

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the
day and year first written above.

THE AUSTRALIA TRAFFIC NETWORK PTY LIMITED

By:      /s/ William L. Yde III
   --------------------------------------------------
         William L. Yde III
         Managing Director

MILWAUKEE TRAFFIC NETWORK

By:      /s/ Dale C. Arfman
   --------------------------------------------------
         Dale C. Arfman
         Secretaryexv10w1

 

Exhibit 10.1

THIS SERVICE AGREEMENT dated this 9th day of February, 2005

BETWEEN:

Zenex International Inc. of 14220 South Meridian, Oklahoma City, Oklahoma 73173

(the “Customer”)

- AND -

Oklahoma Development Group of 2727 Classen Blvd, Norman, Oklahoma 73071

(the “Service Provider”)

Service Agreement (General)

BACKGROUND:

	 	1.	 	The Customer carries on a business primarily consisting of commercial roof and
waterproofing.
	 
	 	2.	 	The Customer is of the opinion that the Service Provider has the necessary
qualifications, experience and abilities to provide services to the Customer.
	 
	 	3.	 	The Service Provider is agreeable to providing such services to the Customer, on the
terms and conditions as set out in this Agreement.

IN CONSIDERATION OF the matters described above and of the mutual benefits and obligations set
forth in this Agreement, the receipt and sufficiency of which consideration is hereby acknowledged,
the parties to this Agreement agree as follows:

	 	 	 	Engagement
	 
	 	1.	 	The Customer hereby agrees to engage the Service Provider to provide the Customer with
services consisting of proposal preparation, operations management and other activities, as
defined in attachment “A” to this document, related to emergency services provided under
contract with FEMA, and such other services as the Customer and the Service Provider may
agree upon from time to time (the “Services”), and the Service Provider hereby agrees to
provide the Services to the Customer.
	 
	 	 	 	Term of Agreement
	 
	 	2.	 	The term of this Agreement will begin on the date of this Agreement and will remain in
full force and effect until completion of the Services.
	 
	 	 	 	Performance
	 
	 	3.	 	Both parties agree to do everything necessary to ensure that the terms of this
Agreement take effect.
	 
	 	 	 	Compensation
	 
	 	4.	 	For the Services provided by the Service Provider under this Agreement, the Customer
will pay to the Service provider compensation in the following manner. Payment to be made
at the agreed

 

 

	 	 	 	upon price per square foot in attachment “A” of this document. Price per foot subject to
revision based on changes within the contractual relationship with FEMA. If no emergency
services are provided there will be no compensation under the agreement. Compensation will
be payable upon completion of the Services. The Customer is entitled to deduct from the
Service Provider’s compensation any applicable deductions and remittances as required by
law.
	 
	 	 	 	Confidentiality
	 
	 	5.	 	The Service Provider acknowledges that a material term of the Agreement with the
Customer is to keep all confidential information belonging to the Customer absolutely
confidential and protect its release to the public. The Service Provider agrees not to
divulge, reveal, report or use, for any purpose, any confidential information which the
Service Provider has obtained or which was disclosed to the Service Provider by the
Customer.
	 
	 	6.	 	The obligation to protect the confidentiality of the Customer’s confidential
information will survive the termination of this Agreement and will continue for a period
of 2 years form the date of such termination.
	 
	 	7.	 	The Service provider may disclose any of the confidential information:

	 	a.	 	to a third party where the Customer has consented in writing to such
disclosures; and
	 
	 	b.	 	to the extent required by law or by the request or requirement of any
judicial, legislative, administrative or other governmental body. However, the
Service Provider will first have given prompt notice to the Customer of any
possible or prospective order (or proceeding pursuant to which any order may
result), and the Customer will have been afforded a reasonable opportunity to
prevent or limit any disclosure.

	 	 	 	Non-Solicitation
	 
	 	8.	 	Any attempt on the part of the Service Provider to induce others to leave the
Customer’s employ, or any effort by the Service Provider to interfere with the Customer’s
relationship with its employees or other service providers would be harmful and damaging to
the Customer. The Service Provider agrees that during the term of this Agreement and for a
period of 2 years after the end of the term, the Service Provider will not in any way,
directly or indirectly:

	 	1.	 	induce or attempt to induce any employee or other service
provider of the Customer to quit employment or retainer with the Customer;
	 
	 	2.	 	otherwise interfere with or disrupt the Customer’s relationship
with its employees or other service providers;
	 
	 	3.	 	discuss employment opportunities or provide information about
competitive employment to any of the Customer’s employees or other service
providers; or
	 
	 	4.	 	solicit, entice, or hire away any employees or other service
provider of the Customer.

	 	 	 	Assignment
	 
	 	9.	 	This Agreement is a personal one, being entered into in reliance upon and in
consideration of the personal skill and qualifications of the Service Provider. The
Service Provider will not voluntarily or by operation of law assign or otherwise transfer
the obligations incurred pursuant to the terms of this Agreement without the prior written
consent of the Customer.
	 
	 	 	 	Capacity/Independent Contractor
	 
	 	10.	 	It is expressly agreed that the Service Provider is acting as an independent contractor
and not as an employee in providing the Services hereunder. The Service Provider and the
Customer acknowledge that this agreement does not crate a partnership or joint venture
between them.
	 
	 	 	 	Modification of Agreement

 

 

	 	11.	 	Any amendment or modification of this Agreement or additional obligation assumed by
either party in connection with this Agreement will only be binding if evidenced in writing
signed by each party or an authorized representative of each party.
	 
	 	 	 	Time of the Essence
	 
	 	12.	 	Time will be of the essence of this Agreement and of every part hereof. No extension
or variation of this Agreement will operate as a waiver of this provision.
	 
	 	 	 	Entire Agreement
	 
	 	13.	 	It is agreed that there is no representation, warranty, collateral agreement or
condition affecting this Agreement except as expressed in it.
	 
	 	 	 	Severability
	 
	 	14.	 	In the event that any of the provisions of this Agreement are held to be invalid or
unenforceable in whole or in part, all other provisions will nevertheless continue to be
valid and enforceable with the invalid or unenforceable parts severed from the remainder of
this Agreement.
	 
	 	 	 	Currency
	 
	 	15.	 	Unless otherwise provided for, all monetary amounts referred to herein will be paid in
US dollars.
	 
	 	 	 	Governing Law
	 
	 	16.	 	It is the intention of the parties to this Agreement that this Agreement and the
performance under this Agreement, and all suit and special proceedings under this
Agreement, be construed in accordance with and governed, to the exclusion of the law of any
other forum, by the laws of the State of Oklahoma, without regard to the jurisdiction in
which any action or special proceeding may be instituted.

IN WITNESS WHEREOF the parties have duly executed this Service Agreement this 9th day of
February 2005.

	 	 	 	 	 	 	 
	 	 	Zenex International, Inc.
	 
	 	 	 	 	 	 
	 

	 	Per:
	 	/s/ Ron Carte	 	(SEAL)
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	Oklahoma Development Group
	 
	 	 	 	 	 	 
	 

	 	Per:
	 	/s/ David Aduddell	 	(SEAL)
	 

	 	 	 	 	 	 

 

 

ATTACHMENT “A”

Advanced Preparation:

In-depth review and analysis of RFP

Prepare and Review Bid

Complete Bid Submittals

Identify Sub-Contractors

Qualify Sub-Contractors

Negotiate terms and conditions of Sub-Contractors

Identify all communications infrastructure needs (satellite internet and voice connectivity)

Secure cell phones for Sub-Contractors and USACE personnel

Identify lodging for administrative personnel and Sub-Contractors

Site Preparation:

Identify and secure office

Identify and secure lay down yards

Identify and secure necessary equipment for remote operations (sky-lift, dumpster, portable

toilets, portable lights, storage)

Secure accommodations for Sub-Contractors

Provide accommodations for administrative personnel’s lodging

Mobilize Office:

Purchase Necessary equipment and supplies for remote operation

Secure internet service for office via satellite hook-up

Materials and Supplies:

Identify Vendors and negotiate contracts for purchase of required materials

Monitor inventory control and purchase of supplies

Provide and manage yard personnel

Sub-Contractors:

Contract with Sub-Contractors

Obtain required insurance from Sub-Contractors

Train Sub-Contractors according to approved USACE procedures

Safety Training for Sub-Contractors

Provide and Monitor Quality Control personnel

Coordinate communication between Sub-Contractors and USACE

 

 

ATTACHMENT “A”

Administration:

Fully staff and pay for all administrative personnel needed to issue and track all ROEs issued to

Sub-Contractors and follow-up and monitor through completion

Review and approve square footage with USACE on every individual ROE

Monitor required safety meetings

Secure Sub-Contractor’s Certified Payroll

Coordinate and verify payroll to Sub-Contractors

Liaison with USACE

Resolve Sub-Contractor quality control problems

Liaison with homeowner’s regarding Sub-Contractor problems

Storm Close Out:

Coordinate closing out storm with USACE Mission Manager (approximately 60-90 day process after

completion of storm)

Close out tracking of all ROEs

Resolve all outstanding issues with USACE

Resolve all outstanding issues with Sub-Contractors

Resolve all outstanding issues with Homeowners

Price per square foot 2005 proposal: 1

 

			
	1	 	Confidential information has been omitted and
filed separately with the Securities and Exchange Commission.

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