Document:

EX-10.5 AMENDED AND RESTATED EMPLOYMENT AGREEMENT

 

Exhibit 10.5

AMENDED AND RESTATED EMPLOYMENT AGREEMENT

     THIS AMENDED AND RESTATED EMPLOYMENT AGREEMENT (the “Agreement”) is made and entered into as
of
                                        
, 2007, to be effective as of the Effective Date (as defined below), by and
between JOSEPH V. MARINELLI (“Employee”) and ALLIED AUTOMOTIVE GROUP, INC., a Georgia corporation
(“Employer”).

W I T N E S S E T H:

     WHEREAS, Employer, through the Affiliates (as hereinafter defined), is engaged in the
transportation of automobiles and light trucks from the manufacturer to retailers and others,
including nontraditional car haulers involved in the vehicle distribution process and providing
logistics and distribution services to the new and used vehicle distribution market and other
segments of the automotive industry (the “Business”);

     WHEREAS, Employee has management skills of which Employer desires to avail itself; and

     WHEREAS, Employee and Employer are parties to the Employment Agreement, dated as of November
29, 2004, as amended (the “Prior Agreement”);

     WHEREAS, Employer and certain of its Affiliates (collectively, “Allied”) are presently in
bankruptcy proceedings in the United States Bankruptcy Court for the Northern District of Georgia;

     WHEREAS, the Plan of Reorganization proposed by Allied, Yucaipa American Alliance Fund I, L.P.
and Yucaipa American Alliance (Parallel) Fund I, L.P. and by Teamsters National Automobile
Transportation Industry Negotiating Committee is proceeding to confirmation;

     WHEREAS, Employer intends to reject the Prior Agreement, effective as of the Effective Date;

     WHEREAS, Employer and Employee deem it to their respective best interest to outline the duties
and obligations on and after the Effective Date, each to the other, by executing this Agreement;

     NOW, THEREFORE, for and in consideration of the covenants and conditions hereinafter set
forth, and other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, Employer and Employee hereby mutually agree as follows:

     1. DEFINITIONS.

          (a) “Affiliate” means Allied Holdings, Inc., Axis Group, Inc., Allied Systems (Canada)
Company, Allied Systems, Ltd. (L.P.), Transport Support, LLC, F.J. Boutell Driveway LLC, Allied
Freight Brokers, LLC or QAT, Inc. “Reorganized Affiliate” means any Affiliate, as reorganized
under the Plan of Reorganization, on or after the Effective Date.

 

 

          (b) “Base Salary” means the annual salary payable, and as adjusted, pursuant to Paragraph 4.

          (c) “Cause” means (i) the commission by Employee of an act of fraud, misappropriation,
dishonesty, embezzlement, gross negligence, or willful misconduct or unethical conduct in
connection with Employee’s employment hereunder; (ii) criminal conduct of Employee which results in
a felony conviction of such Employee, or the Employee’s offering a plea of nolo contedre to a
felony; (iii) Employee’s continuing and/or willful failure to perform Employee’s duties or
obligations for Employer as outlined in this Agreement, or Employee’s breach of this Agreement;
(iv) Employee’s prolonged absence of ten (10) or more days, without the consent of Employer, other
than as a result of Employee’s Disability or permitted absence or vacation, which is not cured
within ten (10) days after written notice from Employer’s Board of Directors thereof; (v) engaging
in activities prohibited by Paragraphs 11, 12, 13 or 14 hereof; (vi) engaging in any activity which
could constitute grounds for termination for cause by Employer or any of its subsidiaries or
affiliates; or (vii) Employee engaging in conduct that is materially detrimental to the reputation,
character or standing of Employer.

          (d) “Disability”, with respect to Employee, shall conclusively be deemed to have occurred (i)
if Employee shall be receiving payments pursuant to a policy of long-term disability income
insurance; or (ii) if Employee shall have no disability income coverage then in force, then if any
insurance company insuring Employee’s life shall agree to waive the premiums due on such policy
pursuant to a disability waiver of premium provision in the contract of life insurance; or (iii) if
Employee shall have no disability waiver of premium provision in any contract of life insurance,
then if Employee shall be receiving disability benefits from or through the Social Security
Administration; provided, however, that in the event Employee’s disability shall, otherwise and in
good faith, come into question (and, for purposes of this provision, “disability” shall mean the
permanent and continuous inability of Employee to perform substantially all of the duties being
performed immediately prior to Employee’s disability coming into question) for a period of not less
than one hundred twenty (120) consecutive days, and a dispute shall arise with respect thereto,
then Employee (or Employee’s personal representatives) shall appoint a medical doctor, Employer
shall appoint a medical doctor, and said two (2) doctors shall, in turn, appoint a third party
medical doctor who shall examine Employee to determine the question of disability and whose
determination shall be binding upon all parties to this Agreement. All such medical doctors shall
be duly licensed in the State of Georgia.

          (e) “Effective Date” means the effective date of the Plan of Reorganization.

          (f) “KERP” means the Allied Holdings, Inc. Amended Severance Pay and Retention and Emergence
Bonus Plan for Key Employees, as in effect from time to time.

          (g) “Plan of Reorganization” means the Plan of Reorganization proposed by Allied, Yucaipa
American Alliance Fund I, L.P., Yucaipa American Alliance (Parallel) Fund I, L.P. and by Teamsters
National Automobile Transportation Industry Negotiating Committee, dated April 5, 2007, as amended.

          (h) “Reorganized Employer” means Allied Automotive Group, Inc., as reorganized under the Plan
of Reorganization, on and after the Effective Date.

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          (i) “Restricted Period” means the period commencing as of the date hereof and ending on that
date twelve (12) months after the termination of Employee’s employment with Employer for any
reason, whether voluntary or involuntary.

     2. EFFECTIVE DATE; TERMINATION OF PRIOR EMPLOYMENT AGREEMENT; TERM.

          (a) This Agreement shall amend and restate the Prior Agreement in its entirety, and shall
supersede the Prior Agreement, effective as of the Effective Date. In the event that the Plan of
Reorganization fails to become effective, this Agreement shall terminate and the Prior Agreement
shall remain in effect.

          (b) Effective as of the Effective Date, the Prior Agreement shall be rejected and shall
terminate and any and all rights, obligations and liabilities of the parties under the Prior
Agreement shall terminate. Effective as of the Effective Date, Employee waives and releases any
and all rights and claims against Employer or Reorganized Employer (or any Affiliate or Reorganized
Affiliate) under, arising from or relating to the Prior Agreement (other than accrued, unpaid
salary and vacation benefits).

          (c) Subject to the provisions hereinafter set forth, the term of this Agreement shall commence
as of the Effective Date and shall expire one year after the Effective Date (the “Initial Term”)
and shall extend for additional terms of one (1) year (each, a “Renewal Term”) unless either party
gives written notice of non-extension not less than six (6) months prior to the end of a Term. As
used herein, “Term” shall mean the then current Initial Term or Renewal Term, as the case may be.

     3. DUTIES.

          (a) Employee shall, during the Term, serve as Senior Vice President, Field Operations, of
Employer having duties, responsibilities, powers and authority which are consistent with senior
management positions of like designation generally, but subject to the direction of the President
and Chief Executive Officer of Allied Automotive Group, Inc. or his designee. The Employee shall
perform such executive, managerial and administrative duties as the President and Chief Executive
Officer of Allied Automotive Group, Inc. may, from time to time, reasonably request. Employee
shall not be required to permanently relocate outside the metropolitan Atlanta, Georgia area.

          (b) During the Term, Employee shall devote substantially all of Employee’s business time,
energy and skill to performing the duties of Employee’s employment (vacations as provided hereunder
and reasonable absences because of illness excepted), shall faithfully and industriously perform
such duties, and shall use Employee’s best efforts to follow and implement all management policies
and decisions of Employer. Employee shall not become personally involved in the management or
operations of any other company, partnership, proprietorship or other entity, other than any
Affiliate, without the prior written consent of Employer; provided, however, that so long as it
does not interfere with Employee’s employment hereunder, Employee may (i) serve as a director,
officer or partner in a company that does not compete with the Business of Employer and the
Affiliates so long as the aggregate amount of time spent by Employee in all such capacities shall
not exceed twenty (20) hours per month, and (ii) serve as

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an officer or director of, or otherwise participate in, educational, welfare, social,
religious, civic, trade and industry-related organizations.

     4. BASE SALARY. For and in consideration of the services to be rendered by Employee
pursuant to this Agreement, Employer shall pay to Employee for each year during the Term, an annual
salary of Two Hundred Twenty Five Thousand Dollars ($225,000.00) (the “Base Salary”), in
installments in accordance with Employer’s payroll practices. Employee’s salary shall be reviewed
by the Board of Directors of Employer (or its Compensation Committee) annually.

     5. BONUS COMPENSATION. Employee shall be eligible to participate in Employer’s bonus
plan which will allow annual bonus target in an amount not to exceed 50% of Employee’s Base Salary.
Employer shall determine, in its discretion, the terms and conditions of any bonus plan maintained
by Employer and shall have the right to amend, modify or terminate any such bonus plan.

     6. OTHER BENEFITS. During the Term, Employer shall provide the following benefits to
Employee:

          (a) Employee and Employee’s immediate family shall be entitled to participate in all group
benefit programs, including, without limitation, medical and hospitalization benefit programs,
dental care, life insurance or other group benefit plans of Employer as are now or hereafter
provided by Employer or any Affiliate, in each case in accordance with the terms and conditions of
each such plan.

          (b) Employee shall be reimbursed for actual, reasonable, ordinary and necessary business
expenses incurred in the performance of Employee’s duties hereunder. Employee shall be reimbursed
for such expenses upon presentation and approval of expense statements or written vouchers or other
supporting documents as may be reasonably requested in advance by Employer and in accordance with
Employer’s practices in effect from time to time.

          (c) Employer shall provide Employee with a monthly car allowance in such amount as is
determined in the discretion of the Board of Directors of Employer (or its Compensation Committee).

     7. VACATION. Employee shall receive paid vacation for each year during the Term in
accordance with Employer’s vacation policy, as in effect from time to time; provided, however, that
Employee shall receive not less than three (3) weeks paid vacation for each year during the Term.
Scheduling of vacation shall be subject to the prior approval of Employer (which approval shall not
be unreasonably withheld). Vacation time shall not accrue, and in the event any vacation time for
any year shall not be used by Employee prior to the end of such year or prior to termination of
employment, it shall be forfeited.

     8. TERMINATION. Anything herein to the contrary notwithstanding, Employee’s employment
hereunder shall terminate upon the first to occur of any of the following events:

          (a) Employee’s Disability;

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          (b) Employee’s death;

          (c) Employee’s materially breaching this Agreement by the non-performance or non-observance of
any material term or condition of this Agreement, which breach shall not be corrected within
forty-five (45) days after receipt of written notice of same from Employer;

          (d) Employer terminates Employee’s employment hereunder without Cause prior to expiration of
the Term, or Employee terminates Employee’s employment hereunder prior to the expiration of the
Term;

          (e) Employer terminates Employee’s employment hereunder for Cause; or

          (f) Expiration of the Term, in the event that the Term is not extended by reason of Employer’s
written notice of non-extension under Paragraph 2(c).

     9. SEVERANCE BENEFITS. Subject to the provisions of Paragraph 10 hereof, in the event
that Employee’s employment shall be terminated by Employer without Cause under Paragraph 8(d), then
Employer shall immediately pay in cash to Employee the amount equal to one hundred percent (100%)
of Employee’s then-effective annual Base Salary. Subject to Paragraph 10, such payment shall be
made in a lump sum payment on the date of Employee’s separation from service, as defined in
Section 409A of the Internal Revenue Code and the Treasury Regulations thereunder (or within 30
days thereafter).

     In addition, Employer shall continue to provide to Employee, for a period of twelve (12)
months from said termination, the benefits enumerated in Paragraph 6(a) hereof.

     Notwithstanding anything in the Agreement to the contrary, in the event Employee obtains a
full-time position with the Employer or any of its subsidiaries or affiliates after the execution
of this Agreement but prior to the last day on which severance payments are due under this
Agreement, Employee understands and agrees that all severance payments will cease immediately and
that all liabilities and obligations of the Employer hereunder shall terminate.

     If Employer terminates Employee’s employment hereunder for Cause, Employee shall receive no
severance benefits under this Paragraph 9.

     Effective as of the Effective Date, Employee waives and releases any and all rights and claims
against Employer or Reorganized Employer (or any Affiliate or Reorganized Affiliate), or the KERP,
to any severance benefits under the KERP. Nothing herein shall affect Employee’s right to receive
any “Stay Bonus” (as defined in the KERP) in accordance with the terms and conditions of the KERP.

     10. CONDITIONS TO BENEFITS. Anything in this Agreement to the contrary
notwithstanding, to receive the benefits enumerated in Paragraph 9, Employee shall execute and
agree to be bound by a release agreement substantially in the form attached to this Agreement as
Exhibit A.

     11. COVENANT NOT-TO-SOLICIT. Employer and Employee acknowledge that, during
Employee’s employment, Employer will spend considerable amounts of time, effort and

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resources in providing Employee with knowledge relating to the business affairs of Employer
and the Affiliates, including Employer’s and the Affiliates’ trade secrets, proprietary information
and other information concerning Employer’s and the Affiliates’ financing sources, finances,
customer lists, customer records, prospective customers, staff, contemplated acquisitions (whether
of business or assets), ideas, methods, marketing investigations, surveys, research, customers’
records and any other information relating to Employer’s and Affiliates’ Business.

          To protect Employer from Employee’s solicitation of business from customers during the
Restricted Period, Employee agrees that, subject to Paragraph 17 hereof, he shall not, directly or
indirectly, for any person (including Employee himself), corporation, firm, partnership,
proprietorship or other entity, other than Employer or an Affiliate, engaged in the Business,
solicit business for transportation of automobiles and light trucks and related logistics services
for any customer with whom the Employee had material contact during the twelve (12) month period
immediately preceding the termination of Employee’s employment. Material contact includes personal
contact with customers, the supervision of the efforts of others who have personal contact with the
customers, and the receipt of confidential information of customers of Employer. This Paragraph 11
shall, except as otherwise provided in this Agreement, survive the termination of this Agreement.

     12. COVENANT NOT-TO-DISCLOSE. Employee agrees that during employment with Employer and for a
period of three (3) years following the cessation of that employment for any reason, Employee shall
not directly or indirectly divulge or make use of any Confidential Information or Trade Secrets (so
long as the information remains a Trade Secret or remains confidential) without prior written
consent of Employer. Employee further agrees that if Employee is questioned about information
subject to this agreement by anyone not authorized to receive such information, Employee will
promptly notify Employee’s supervisor(s) or an officer of Employer. This Agreement does not limit
the remedies available under common or statutory law, which may impose longer duties of
non-disclosure. For purposes of this Agreement, the following definition shall apply:

          (i) “Confidential Information” means information about Employer and its Employees,
Customers and/or Suppliers which is not generally known outside of Employer, which employee
learns of in connection with employee’s employment with Employer, and which would be useful
to competitors of Employer. Confidential Information includes, but is not limited to: (1)
business and employment policies, marketing methods and the targets of those methods,
finances, business plans, promotional materials and price lists; (2) the terms upon which
Employer obtains products or services from its vendors and sells them to customers; (3) the
nature, origin, composition and development of Employer’s products; (4) the manner in which
Employer provides products and services to its customers.

Confidential Information shall not include information which: (a) Employee can show was in
his possession on a nonconfidential basis, was known to the public, or appeared in published
literature, prior to disclosure of such Confidential Information, (b) becomes known to the
public or appears in published literature through no act of the Employee subsequent to the
time of the Employee’s receipt of such Confidential Information, or (c) is lawfully acquired
by the Employee from a third party who is not in breach of any

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confidentiality agreement or obligation with the disclosing party with respect to such
Confidential Information.

If the Employee is requested or becomes legally compelled (by oral questions,
interrogatories, requests for information or documents, subpoena, civil or criminal
investigative demand, or similar process) or is required by a regulatory body to make any
disclosure that is prohibited or otherwise constrained by this Agreement, the Employee will
provide the Employer with prompt notice of such request so that the Employer may seek an
appropriate protective order or other appropriate remedy. Subject to the foregoing, the
Employee may furnish that portion (and only that portion) of the Confidential Information
which, in the written opinion of Employee’s counsel, the Employee is legally compelled or is
otherwise required to disclose or else stand liable for contempt or suffer other material
censure or material penalty; provided, however, that the Employee must use reasonable
efforts to obtain reliable assurance that confidential treatment will be accorded any
Confidential Information so disclosed.

          (ii) “Trade Secrets” mean the trade secrets of Employer as defined under applicable
law.

     13. COVENANT NOT-TO-INDUCE. Employee covenants and agrees that during the Restricted
Period, he will not, directly or indirectly, on Employee’s own behalf or in the service or on
behalf of others, solicit, induce or attempt to solicit or induce an employee or other personnel of
Employer and the Affiliates to terminate employment with such party. This Paragraph 13 shall,
except as otherwise provided in this Agreement, survive the termination of this Agreement.

     14. COVENANT OF NON-DISPARAGEMENT AND COOPERATION. Employee agrees that he shall not,
at any time during or following the Term, make any remarks disparaging the conduct or character of
Employer or any of its current or former Affiliates, agents, employees, officers, directors,
shareholders, successors or assigns (in the aggregate, such persons and entities are referred to
herein as the “Protected Persons”); provided, however, that during the Term, Employer acknowledges
and agrees that Employee may be required from time to time to make such remarks about Protected
Persons for legitimate business purposes and if consistent with the discharge of Employee’s duties
hereunder. In addition, following termination of Employee’s employment hereunder, Employee agrees
to reasonably cooperate with Employer, at no extra cost, in any litigation or administrative
proceedings (e.g., EEOC charges) involving any matters with which Employee was involved during
Employee’s employment with Employer. Employer shall reimburse Employee for travel and other
related expenses approved by Employer incurred in providing such assistance. This Section 14 shall
survive the termination of this Agreement.

     15. SPECIFIC ENFORCEMENT. Employer and Employee expressly agree that a violation of
the covenants contained in Paragraphs 11, 12, 13 and 14 hereof, or any provision thereof, shall
cause irreparable injury to Employer and that, accordingly, Employer shall be entitled, in addition
to any other rights and remedies it may have at law or in equity, to an injunction enjoining and
restraining Employee from doing or continuing to do any such act and any other violation or
threatened violation of said Paragraphs 11, 12, 13 and 14 hereof.

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     16. SEVERABILITY. In the event any provision of this Agreement shall be found to be
void, the remaining provisions of this Agreement shall nevertheless be binding with the same effect
as though the void part were deleted; provided, however, if Paragraphs 11, 12, 13 and 14 shall be
declared invalid, in whole or in part, Employee shall execute, as soon as possible, a supplemental
agreement with Employer, granting Employer, to the extent legally possible, the protection afforded
by said Paragraphs. It is expressly understood and agreed by the parties hereto that Employer
shall not be barred from enforcing the restrictive covenants contained in each of Paragraphs 11,
12, 13 and 14 as each are separate and distinct, so that the invalidity of any one or more of said
covenants shall not affect the enforceability and validity of the other covenants.

     17. INCOME TAX WITHHOLDING. Employer or any other payor may withhold from any
compensation or benefits payable under this Agreement such Federal, State, City or other taxes as
shall be required pursuant to any law or governmental regulation or ruling.

     18. WAIVER. The waiver of a breach of any term of this Agreement by any of the
parties hereto shall not operate or be construed as a waiver by such party of the breach of any
other term of this Agreement or as a waiver of a subsequent breach of the same term of this
Agreement.

     19. RIGHTS AND LIABILITIES UPON NOTICE OF TERMINATION . As soon as notice of
termination of this Agreement is given, Employee shall immediately cease contact with all customers
of Employer and shall forthwith surrender to Employer all customer lists, documents and other
property of Employer then in Employee’s possession, compliance with which shall not be deemed to be
a breach of this Agreement by Employee. Pending the surrender of all such customer lists,
documents and other property to Employer, Employer may hold in abeyance any payments due Employee
pursuant to this Agreement.

     20. ASSIGNMENT.

          (a) Employee shall not assign, transfer or convey this Agreement, or in any way encumber the
compensation or other benefits payable to him hereunder, except with the prior written consent of
Employer or upon Employee’s death.

          (b) The covenants, terms and provisions set forth herein shall be binding upon and shall inure
to the benefit of, and be enforceable by, Employer and its successors and assigns; provided,
Employer shall require any successor (whether direct or indirect, by purchase, merger,
reorganization, consolidation, acquisition of property or stock, liquidation or otherwise) to all
or a substantial portion of its assets, by agreement in form and substance reasonably satisfactory
to Employee, expressly to assume and agree to perform this Agreement in the same manner and to the
same extent that Employer would be required to perform this Agreement if no such succession had
taken place. Regardless of whether such an agreement is executed, this Agreement shall be binding
upon any successor of Employer in accordance with the operation of law, and such successor shall be
deemed the “Employer” for purposes of this Agreement.

     21. NOTICES. All notices required herein shall be in writing and shall be deemed to
have been given when delivered personally or five (5) days after the date on which such notice is

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deposited in the U.S. Mail, certified or registered, postage prepaid, return receipt
requested, addressed as follows, to wit:

	 	 	 	 	 	 	 
	 	 	If to Employer at:	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	160 Clairemont Avenue, Suite 200	 	 
	 

	 	 	 	Decatur, Georgia 30030	 	 
	 

	 	 	 	Attn: Thomas M. Duffy, General Counsel	 	 
	 
	 	 	 	 	 	 
	 	 	If to Employee at:	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	 

	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 

Or at such other addresses as may, from time to time, be furnished by Employer by Employee, or by
Employer to Employee on the terms of this Paragraph.

     22. BINDING EFFECT. This Agreement shall be binding on the parties hereto and on
their respective heirs, administrators, executors, successors and permitted assigns.

     23. ENFORCEABILITY. This Agreement contains the entire understanding of the parties
and may be altered, amended or modified only by a writing executed by both of the parties hereto.
This Agreement supersedes all prior agreements and understandings by and between Employer and
Employee relating to Employee’s employment.

     24. APPLICABLE LAW. This Agreement and the rights and liabilities of the parties
hereto shall be governed by, and construed and interpreted in accordance with, the laws of the
State of Georgia.

     25. COUNTERPARTS. This Agreement may be executed in one or more counterparts, each of
which shall constitute an original, but all of which together shall constitute but a single
document.

[remainder of page intentionally left blank]

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     IN WITNESS WHEREOF, Employee has hereunder set Employee’s hand and seal, and Employer has
caused this Agreement to be executed and delivered by its duly authorized officers, all as of the
day and year first above written.

	 	 	 	 	 	 	 	 	 	 	 
	/s/
Brenda Ragsdale	 	 	 	/s/ Joseph V. Marinelli 	 	 
	Witness	 	 	 	JOSEPH V. MARINELLI	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	ATTEST	 	 	 	ALLIED AUTOMOTIVE GROUP, INC.	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By:

	 	/s/ Thomas M. Duffy 	 	 	 	By:	 	/s/ Thomas M. Duffy 	 	 
	 

	 	 

	 	 
	 	 	 	 

	 	 

	 	 	 	 	 	 	 	 	 	 	 
	Its:

	 	 	 	Secretary
	 	Its:	 	EVP 	 	 
	 

	 	 

	 	 
	 	 	 	 

	 	 

[CORPORATE SEAL]

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EXHIBIT A

SEVERANCE AGREEMENT AND FULL RELEASE

     This Severance Agreement and Full Release (“Release Agreement”) is made and entered into this
           day of                     ,
           (“Execution Date”) by and between Joseph V. Marinelli
(“Employee,” a term which includes Employee, Employee’s spouse, and all assigns, heirs, and
successors in interest) and Allied Automotive Group, Inc., a Georgia corporation (“Company,” a term
which includes Company, its parent, subsidiary and affiliated organizations, their successors in
interest, and their respective agents, Employees, officers, directors and attorney ).

     WHEREAS Employee and Company are parties to an employment agreement under which Employee is
entitled to receive certain severance benefits under certain conditions, including the execution of
this Release Agreement, and

     WHEREAS Employee and Company have mutually agreed that Employee is entitled to receive the
severance benefits described in Employee’s employment agreement in consideration for the execution
of this Release Agreement, it is hereby

AGREED AS FOLLOWS:

     1. TERMINATION OF EMPLOYMENT. Employee agrees that his/her employment relationship
with Company has terminated or will terminate on [date], whereupon all benefits, privileges and
authorities related thereto ceased, except as set forth herein.

     2. NO ADMISSION BY COMPANY. Company and Employee agree that the entry of the parties
into this Release Agreement is not and shall not be construed to be an admission of liability or
wrongdoing on the part of Company.

     3. FUTURE COOPERATION. Employee AGREES that, notwithstanding Employee’s termination on
the date specified above, Employee will make him/herself available upon reasonable notice to
Company or its designated representatives for the purposes of: (1) Providing information regarding
the projects, files and/or clients with whom Employee worked for the purpose of transitioning such
projects, files and/or clients to other Company Employees as the result of Employee’s termination;
(2) Providing information and/or testimony regarding any other matter, file, project and or client
with whom Employee was involved while employed by Company.

     4. CONSIDERATION. Within ten days following the expiration of the revocation period
described in Section 17 below, Company shall pay Employee [describe compensation] in consideration
for Employee signing this Release Agreement and agreeing to its terms. Employee agrees and
acknowledges that this is consideration to which Employee would not otherwise be entitled absent
execution of this Release Agreement.

 

 

     5. OTHER BENEFITS. Nothing in this Release Agreement shall:

          (a) alter or reduce any vested, accrued benefits (if any) Employee may have to any pension
benefits to which Employee may be entitled under any retirement or 401(k) plan established by
Company;

          (b) affect Employee’s right (if any) to elect and pay for continuation of Employee’s health
insurance coverage under the Health Benefit Plan pursuant to the Consolidated Omnibus Budget
Reconciliation Act of 1985 (C.O.B.R.A.).

          Employee shall receive his or her final paycheck for services rendered through [date] in the
ordinary course of business according to the payroll policies and procedures of Company and subject
to ordinary and lawful deductions. Employee waives any claim to any further compensation or
benefits other than those expressly set forth in this
Release Agreement.

     6. EMPLOYEE’S FULL RELEASE OF ALL CLAIMS AGAINST COMPANY. In consideration for the
undertakings and promises of Company set forth in this Release Agreement, Employee unconditionally
releases, discharges, and holds harmless Company, its corporate affiliates, officers, directors,
shareholders, Employees, agents, insurers and attorneys as individuals; and the successors and
assigns of each (collectively referred to as “Releasees”), from each and every claim, cause of
action, right, liability or demand of any kind and nature, and from any claims which may be derived
therefrom (collectively referred to as “claims”), that Employee had, has, or might claim to have
against Releasees at the time Employee executes this Release Agreement, including but not limited
to any and all claims:

          (a) arising from Employee’s employment, pay, bonuses, vacation or any other Employee benefits,
and other terms and conditions of employment or employment practices of Company;

          (b) relating to the termination of Employee’s employment with Company or the surrounding
circumstances thereof;

          (c) relating to payment of any attorney’s fees for Employee;

          (d) based on discrimination on the basis of race, color, religion, sex, national origin,
handicap, disability, age or any other category protected by law under Title VII of the Civil
Rights Act of 1964, the Civil Rights Act of 1991, Executive Order 11246, the Age Discrimination in
Employment Act, the Older Workers Benefits Protection Act, the Equal Pay Act, the Americans With
Disabilities Act, the Equal Pay Act, the Americans With Disabilities Act, the Rehabilitation Act of
1973, the Consolidated Omnibus Budget Reconciliation Act of 1985, (as any of these laws may have
been amended) or any other similar labor, employment or anti-discrimination law under state,
federal or local law;

          (e) based on any contract, tort, whistleblower, personal injury wrongful discharge theory or
other common law theory.

A-2

 

     7. EMPLOYEE’S COVENANT NOT TO SUE OR ACCEPT RECOVERY. Employee covenants not to sue
Company or any party released herein on account of any claim released hereby, or to encite, assist
or encourage others to bring claims against Company. Employee further covenants not to accept,
recover or receive any monetary damages or any other form of relief which may arise out of or in
connection with any administrative remedies which may be filed with or pursued independently by any
governmental agency or agencies, whether federal, state or local.

     8. NO INTEREST IN REINSTATEMENT. Employee hereby acknowledges that Employee has no
interest in reinstatement, reemployment or employment with Company, and Employee forever waives any
interest in or claim of right to any future employment by Company. Employee further covenants not
to apply for future employment with Company.

     9. CONFIDENTIALITY. Except as otherwise expressly provided in this paragraph,
Employee agrees that the terms, amount of consideration, conditions of this Release Agreement are
and shall be deemed to be confidential and hereafter shall not be disclosed by Employee to any
other person or entity. The only disclosures excepted by this paragraph are (a) as may be required
by law; (b) Employee may tell prospective employers the dates of Employee’s employment, positions
held, evaluations received, Employee’s duties and responsibilities and salary history with Company;
(c) Employee may disclose the terms and conditions of this Release Agreement to Employee’s
attorneys and tax advisers; and (d) Employee may disclose the terms and conditions of this Release
Agreement to Employee’s spouse (if any); provided, however, that Employee makes Employee’s spouse,
attorneys and/or tax advisers aware of the confidentiality provisions of this paragraph, and
further provided that Employee will be responsible for any breaches of this confidentiality
paragraph by his/her spouse, attorneys or tax advisers to the same extent as if Employee had
directly breached this paragraph.

     10. NO HARASSING CONDUCT. Employee further agrees and promises that Employee will not
induce or incite claims of discrimination, wrongful discharge, breach of contract, tortious acts,
or any other claims against Company by any other person or entity, that Employee shall not
undertake any harassing or disparaging conduct directed at any of the parties, and that Employee
shall refrain from making any negative or derogatory statements concerning Company at any time in
the future. Provided, however, this provision may not be used to restrict the exercise of
Employee’s rights under local, state or federal law.

     11. CONSTRUCTION OF RELEASE AGREEMENT AND VENUE FOR DISPUTES. This Release Agreement
shall be deemed to have been jointly drafted by the parties, and shall not be construed against any
party. It shall be governed by the law of the State of Georgia, and the parties agree that any
actions arising out of or relating to the interpretation or enforcement of this Release Agreement
must be brought exclusively in either the Superior Court of DeKalb County, Georgia or the United
States District Court for the Northern District of Georgia. The parties consent to the personal
jurisdiction and venue of such courts and waive all possible objections thereto.

A-3

 

     12. SEVERABILITY. The parties agree that the provisions of this Release Agreement
shall be construed in favor of their reasonable nature, legality, and enforceability, in that any
reading causing unenforceability shall yield to a construction permitting enforceability. If any
single provision or clause shall be found unenforceable, it shall be severed and the remaining
covenants and clauses enforced in accordance with the tenor of the Release Agreement.

     13. NO RELIANCE UPON OTHER STATEMENTS. This Release Agreement is entered into without
reliance upon any statement or representation of any party hereto or parties hereby released other
than the statements and representations contained in writing in this Release Agreement.

     14. ENTIRE UNDERSTANDING. The parties acknowledge that this Release Agreement
contains the entire understanding of the parties with respect to the subject matter contained
herein, and that it may not be modified other than in a writing signed by the parties hereto. Any
provisions of any employment agreement between Employee and Company which survive termination or
cessation of Employee’s employment by their terms, including, without limitation, restrictive
covenants, shall be unaffected by this Release Agreement.

     15. NO WAIVER. Any failure by any party to enforce any of their rights and privileges
under this Release Agreement shall not be deemed to constitute waiver of any rights and privileges
contained herein.

     16. FULL AND KNOWING RELEASE. By signing this Release Agreement, Employee certifies
that:

          (a) Employee has carefully read and fully understands the provisions of this Release
Agreement;

          (b) Employee was advised by Company in writing, via this Release Agreement, to consult with an
attorney before signing this Release Agreement;

          (c) Company hereby allows Employee a reasonable period of time from its initial presentation
to Employee (at least 21 days) to consider this Release Agreement before signing it, should
Employee so desire; and,

          (d) Employee agrees to its terms knowingly, voluntarily and without intimidation, coercion or
pressure.

     17. REVOCATION OF RELEASE AGREEMENT. Employee may revoke this Release Agreement
within seven (7) calendar days after signing it. To be effective, such revocation must be received
in writing by [name, title] at the offices of Company at [address, city, state]. Revocation can be
made by hand delivery, telegram, facsimile, or postmarking before the expiration of this seven (7)
days period.

A-4

 

     IN WITNESS WHEREOF the undersigned hereunto set their hands to this Release Agreement on the
dates written below.

     Executed this            day of
                                        
,                     .

	 	 	 	 	 	 	 
	EMPLOYEE

	 	 	 	ALLIED AUTOMOTIVE GROUP, INC.	 	 
	 
	 	 	 	 	 	 
	 

JOSEPH V. MARINELLI

	 	 
	 	 

By:           [insert name, title]
	 	 

A-5exv10w1

 

Exhibit 10.1

EXECUTION COPY

FOURTH AMENDMENT

TO CREDIT AGREEMENT

     THIS FOURTH AMENDMENT TO CREDIT AGREEMENT, dated as of May 31, 2007 (this
“Amendment”), is by and among HAMILTON BEACH/PROCTOR-SILEX, INC., a Delaware corporation
(the “Company”), its U.S. and Canadian Subsidiaries identified as Subsidiary Borrowers on
the signature pages hereto (the “Subsidiary Borrowers”) (hereinafter, the Company and the
Subsidiary Borrowers are collectively referred to as the “Borrowers” or individually
referred to as a “Borrower”), each of the financial institutions identified as Lenders on
the signature pages hereto (the “Lenders”), WACHOVIA BANK, NATIONAL ASSOCIATION
(“Wachovia”), as administrative agent for the Lenders (the “Administrative Agent”
or the “Agent”), WACHOVIA CAPITAL FINANCE CORPORATION (CANADA) (as successor to Congress
Financial Corporation (Canada)), as Canadian Agent (the “Canadian Agent”), KEYBANK,
NATIONAL ASSOCIATION, as Syndication Agent, and BANK OF AMERICA, N.A. (as successor to Fleet
Capital Corporation) and NATIONAL CITY BUSINESS CREDIT, INC., as Documentation Agents.

W I T N E S S E T H:

     WHEREAS, pursuant to a Credit Agreement dated as of December 17, 2002 (as amended,
supplemented or otherwise modified from time to time, the “Credit Agreement”) among the
Borrowers, the Lenders and the Administrative Agent, the Lenders have extended commitments to make
certain credit facilities available to the Borrowers;

     WHEREAS, the Borrowers have requested that the Credit Agreement be amended as described
herein;

     WHEREAS, the Lenders are willing to make such amendments to the Credit Agreement and to grant
such waivers, subject to the terms and conditions hereof;

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

PART I

DEFINITIONS

     SUBPART 1.1. Certain Definitions. Unless otherwise defined herein or the
context otherwise requires, the following terms used in this Amendment, including its
preamble and recitals, have the following meanings:

     “Fourth Amendment Effective Date” is defined in
Subpart 3.1.

 

2

     SUBPART 1.2. Other Definitions. Unless otherwise defined herein or the context
otherwise requires, terms used in this Amendment, including its preamble and recitals, have the
meanings provided in the Credit Agreement (as amended hereby).

PART II

AMENDMENTS TO CREDIT AGREEMENT

     Effective on (and subject to the occurrence of) the Fourth Amendment Effective Date, the
Credit Agreement is hereby amended in accordance with this Part II.

     SUBPART 2.1. Amendments to Section 1.1. Section 1.1 of the Credit Agreement is
hereby amended as follows:

     (A) The definition of “Applicable Percentage” is hereby deleted in its entirety and
replaced with the following:

     “Applicable Percentage” means for Eurodollar Loans, Base Rate Loans,
Bankers’ Acceptances, Letter of Credit Fees and Unused Fees, the appropriate
applicable percentages corresponding to the Quarterly Average Excess Availability as
shown below:

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	Applicable Percentage	 	 	 	 
	 	 	 	 	for Eurodollar Loans,	 	Applicable	 	 
	 	 	 	 	Bankers’ Acceptances	 	Percentage for	 	Applicable
	 	 	Quarterly Average	 	and Letter of Credit	 	Base Rate	 	Percentage for
	Tier	 	Excess Availability	 	Fees	 	Loans	 	Unused Fees
	1

	 	Less than

$12,000,000
	 	 	2.00	%	 	 	0.50	%	 	 	0.20	%
	2

	 	Greater than or
equal to
$12,000,000 but
less than
$20,000,000
	 	 	1.75	%	 	 	0.25	%	 	 	0.20	%
	3

	 	Greater than or
equal to
$20,000,000 but
less than
$30,000,000
	 	 	1.50	%	 	 	0.00	%	 	 	0.20	%
	4

	 	Greater than or
equal to 30,000,000
but less than
$40,000,000
	 	 	1.25	%	 	 	0.00	%	 	 	0.20	%
	5

	 	Greater than or
equal to
$40,000,000
	 	 	1.00	%	 	 	0.00	%	 	 	0.20	%

The Applicable Percentages shall be determined and adjusted quarterly on the
first day of each quarter (each a “Calculation Date”); provided,
however, that (i) the initial Applicable Percentages shall be based on Tier
Level 4 (as shown

 

3

above) and shall remain at Tier Level 4 until the fiscal quarter commencing October 1, 2007,
and, thereafter, the Tier Level shall be determined by the Quarterly Average Excess
Availability for the immediately preceding fiscal quarter, and (ii) if the Company
fails to provide the Borrowing Base Certificate required by Section 7.1(i) for any
month as required by and within the time limits set forth in Section 7.1(i) and such
Borrowing Base Certificate has not been provided by the next Calculation Date, the
Applicable Percentages shall be based on Tier Level 1 until five (5) Business Days
after such Borrowing Base Certificate is provided, whereupon the Tier Level shall be
determined by the then current Quarterly Average Excess Availability;
provided, that such new Tier Level shall be effective only from the fifth
Business Day following the date of delivery of such Borrowing Base Certificate and
no interest paid at the higher Tier Level shall be rebated to the Borrowers. Except
as set forth above, each Applicable Percentage shall be effective from one
Calculation Date until the next Calculation Date. Any adjustment in the Applicable
Percentage shall be applicable to all existing Loans and Letters of Credit as well
as any new Loans made or Bankers’ Acceptances or Letters of Credit issued.

     (B) The definition of “Benefit Plan” is hereby amended by adding the following sentence
to the end thereof:

     From and after the Spinoff, such term shall not include The Combined Defined
Benefit Plan of NACCO Industries, Inc. and Its Subsidiaries or The NACCO Materials
Handling Group, Inc. Defined Benefit Plan for Union Employees.

     (C) The definition of “Change of Control” is hereby deleted in its entirety and
replaced with the following:

     “Change of Control” means the occurrence of any of the following
events: (a) (i) prior to the occurrence of the Spinoff, NACCO shall fail to own,
directly or indirectly, 100% of the outstanding shares of Capital Stock of Holdings,
or (ii) upon or after occurrence of the Spinoff: (A) any “Person” or “group” (as
such terms are used in Sections 13(d) and 14(d) of the Exchange Act) other than a
Permitted Holder, is or becomes the beneficial owner (as defined in Rules 13d-3 and
13d-5 under the Exchange Act, except that for purposes of this clause such Person or
group shall be deemed to have “beneficial ownership” of all securities that any such
Person or group has the right to acquire, whether such right is exercisable
immediately or only after the passage of time), directly or indirectly, of Voting
Stock representing more than 25% of the voting power of the total outstanding Voting
Stock of Holdings; provided, that, in the event that Permitted Holders collectively
are the beneficial owners of, or have the right to acquire, 33% or more of the
voting power of the total outstanding Voting Stock of Holdings, the such threshold
percentage shall be 40% instead of 25%; or (B) during any period of two consecutive
years, individuals who at the beginning of such period
constituted the Board of Directors of Holdings (together with any

 

4

new directors
whose election to such Board of Directors or whose nomination for election was
approved by a vote of 66 2/3% of the directors of Holdings then still in office who
were either directors at the beginning of such period or whose election or
nomination for election was previously so approved) cease for any reason to
constitute a majority of the Board of Directors of Holdings; (b) Holdings shall fail
to own, directly or indirectly, 100% of the outstanding shares of Capital Stock of
the Company; or (c) the Company shall fail to own, directly or indirectly, 100% of
the outstanding shares of Capital Stock of the other Credit Parties owned by the
Company as of the Closing Date except in accordance with a transaction permitted
pursuant to this Agreement. For the avoidance of doubt, the Spinoff shall not
constitute a Change of Control.

     (D) The definition of “Consolidated adjusted EBITDA” is hereby deleted in its entirety
and replaced with the following:

     “Consolidated Adjusted EBITDA” means, for any applicable period of
computation, without duplication, the sum of (i) Consolidated EBITDA for such period
plus (ii) nonrecurring items determined by the Company and acceptable to the
Required Lenders for such period, plus (iii) equity contributions made in
cash by Holdings to the Company during such period or within thirty days following
the end of such period and specifically designated for allocation to such period and
not in the period in which made, plus (iv) restricted stock awards and
retention payments not to exceed $3,000,000 during such period; provided,
that for the measurement period set forth below, the amounts set forth below for
each such measurement period shall be added back to “Consolidated Adjusted EBITDA”.

	 	 	 	 	 
	Measurement Period Ending
	 	Amount
	June 30, 2007
	 	$	6,174,000	 
	September 30, 2007
	 	$	3,766,000	 
	December 31, 2007
	 	$	1,945,000	 
	March 30, 2008
	 	$	1,797,000	 
	June 30, 2008 and thereafter
	 	$	0	 

     The applicable period of computation shall be the trailing 12-month period
ending as of the date of determination.

     (E) The definition of “Consolidated Fixed Charges” is hereby deleted in its entirety
and replaced with the following:

     “Consolidated Fixed Charges” means, for any applicable period of
computation, without duplication, the sum of (i) all Consolidated Interest Expense
and termination payments under Hedging Agreements and other fees and charges
associated with Funded Debt (including, in the case of any Credit Party, Loans,
Letters of Credit and Bankers’ Acceptances), to the extent paid in cash during the
applicable period (other than the amortization of deferred financing fees and

 

5

expenses included in Consolidated Interest Expense) plus (ii) all payments
of principal on Consolidated Funded Debt for the applicable period, other than
mandatory prepayments of the Term Loan Obligations, plus (iii) cash
dividends or other distributions paid by the Company pursuant to Section
9.11 during the applicable period. Except as otherwise provided herein, the
applicable period of computation shall be the trailing 12-month period ending as of
the date of determination. Notwithstanding the foregoing, the Dividend shall be
excluded from Consolidated Fixed Charges.

     (F) The definition of “Credit Documents” is hereby deleted in its entirety and replaced
with the following:

     “Credit Documents” means this Credit Agreement, the Intercreditor
Agreement, the Fourth Amendment Fee Letter, the Revolving Credit Notes, the LOC
Documents, the BA Documents, the Guaranty Agreements, the Security Documents and all
other documents and instruments executed or delivered pursuant thereto, as the same
may be modified, amended, extended, restated or supplemented from time to time.

     (G) The definition of “ERISA Event” is hereby amended by adding the following new
sentence to the end thereof:

     Notwithstanding the foregoing, neither the Spinoff nor the payment of the
Dividend shall be considered an ERISA Event under this Agreement.

     (H) The definition of “Maturity Date” is hereby deleted in its entirety and replaced
with the following:

     “Maturity Date” means July 31, 2012.

     (I) The definition of “Permitted Investments” is hereby amended by re-lettering clause
(m) as clause (n) and adding the following new clause (m):

     (m) Permitted Acquisitions; and

     (J) The definition of “Permitted Liens” is hereby amended by deleting clause (k) and
replacing it with the following:

     (k) Liens granted in favor of the Term Loan Administrative Agent to secure the
Term Loan Obligations, so long as the Intercreditor Agreement or a replacement
intercreditor agreement satisfactory to Agent and all the Lenders is in effect.

     (K) The definition of “Restricted Payments” is hereby amended by adding a new clause
(v) at the end thereof which shall read as follows:

 

6

     (v) any payment or prepayment of principal of, premium, if any, or interest on,
redemption, purchase, retirement, defeasance, sinking fund or similar payment with
respect to, any Subordinated Debt of any Credit Party of any of its Subsidiaries.

     (L) The definition of “Senior Financial Officers” is hereby deleted in its entirety and
replaced with the following:

     “Senior Financial Officers” means the Vice President, Chief Financial
Officer and Treasurer; Treasurer; or Assistant Treasurer of the Company or any other
Credit Party.

     (M) The definition of “Senior Management Members” is hereby amended to add the
following titles: Vice President, Operations; Vice President, Chief Financial Officer and
Treasurer.

     (N) The definition of “Single Employer Plan” is hereby amended by adding the following
sentence to the end thereof:

     From and after the Spinoff, such term shall not include The Combined Defined
Benefit Plan of NACCO Industries, Inc. and Its Subsidiaries or The NACCO Materials
Handling Group, Inc. Defined Benefit Plan for Union Employees.

     (O) The definition of “Termination Event” is hereby amended by adding the following new
sentence to the end thereof:

     Notwithstanding the foregoing, neither the Spinoff nor the payment of the
Dividend shall be considered a Termination Event under this Agreement.

     (P) The definition of “U.S. Borrowing Base” is hereby deleted in its entirety and
replaced with the following:

     “U.S. Borrowing Base” means a U.S. dollar amount equal to the
sum of (a) an amount equal to the product of (i) 85% multiplied by (ii) the
Eligible Accounts Receivable of the U.S. Borrowers, plus (b) the U.S.
Eligible Inventory Amount, minus (c) reserves established by the
Administrative Agent from time to time in its reasonable discretion, including,
without limitation, a derivative reserve. Subject to the relevant terms and
provisions set forth herein, the Administrative Agent at all times shall be entitled
to adjust the advance rates and standards of eligibility under this Credit Agreement
in its sole discretion. Promptly, and in any event within ten Business Days’
thereafter, the Administrative Agent will notify the
Company if it establishes reserves or if it adjusts the advance rates and
standards of eligibility under this Credit Agreement.

 

7

     (Q) The following definitions are hereby added to Section 1.1 of the Credit Agreement
in appropriate alphabetical order:

     “Dividend” means a special, one-time dividend in an amount not to
exceed $110,000,000 to NACCO or one of its wholly-owned subsidiaries made with the
proceeds of the Term Loan.

     “Fourth Amendment” means that certain Fourth Amendment to Credit
Agreement dated as of May 31, 2007 by and among the Company, the Subsidiary
Borrowers, the Lenders, the Administrative Agent, the Canadian Agent and the
Documentation Agents.

     “Fourth Amendment Effective Date” means May 31, 2007.

     “Fourth Amendment Fee Letter” means that certain Fee Letter dated April
26, 2007 from the Administrative Agent and the Arranger to the Company.

     “Intercreditor Agreement” means the Intercreditor Agreement to be
entered into by and among the Administrative Agent, the Term Loan Administrative
Agent and the Credit Parties in substantially the form of Exhibit A attached
to the Fourth Amendment, as amended, restated, amended and restated, supplemented or
otherwise modified from time to time.

     “Permitted Acquisition” shall mean an acquisition or any series of
related acquisitions by a Consolidated Party of (a) the assets or the outstanding
Voting Stock or economic interests of any Person, (b) any division, line of business
or other business unit of any Person or (c) Capital Stock of a joint venture
constituting a majority of the Capital Stock of such Person to the extent such
Consolidated Party already owns Capital Stock of such joint venture (such Person or
such division, line of business or other business unit of such Person or such joint
venture shall be referred to herein as the “Target”), in each case that is a
type of business (or assets used in a type of business) permitted to be engaged in
by the Borrowers and their Subsidiaries pursuant to the terms hereof, so long as (i)
no Default or Event of Default shall then exist or would exist after giving effect
thereto, (ii) the Administrative Agent, on behalf of the Lenders, shall have
received (or shall receive in connection with the closing of such acquisition) a
perfected security interest in all property (including, without limitation, Capital
Stock) acquired with respect to the Target subject to Permitted Liens, to the extent
required, and in accordance with the Security Documents and the Target, if a Person,
shall have executed a joinder agreement in accordance with the terms of Section
7.11, (iii) the Target shall have earnings before interest, taxes, depreciation and
amortization for the four fiscal quarters prior to the acquisition date in an
amount greater than $0 (with pro forma adjustments acceptable to the Administrative
Agent), (iv) such acquisition shall not be a “hostile” acquisition and shall have
been approved by the Board of Directors and/or shareholders of the applicable
Consolidated Party and the Target, (vi) after giving effect to such

 

8

acquisition,
there shall be at least $15,000,000 of Excess Availability (including Eligible
Inventory and Eligible Accounts Receivable of the Target, it being agreed that no
Inventory of the Target shall be Eligible Inventory until the Administrative Agent
shall have received all documentation that it reasonably requests, including,
without limitation, a satisfactory appraisal, and no Accounts of the Target shall be
Eligible Accounts Receivable until the Administrative Agent shall have received all
documentation that it reasonably requests, including, without limitation, a
satisfactory field examination) and (v) the total cash consideration for all such
acquisitions made during the term of this Agreement shall not exceed $5,000,000 in
the aggregate.

     “Permitted Holder” means, collectively, the parties to the
Stockholder’s Agreement, dated as of March 15, 1990, as amended from time to time,
by and among National City Bank (Cleveland, Ohio), as depository, the Participating
Stockholders (as defined therein) and NACCO; provided, however, that for purposes of
this definition only, the definition of Participating Stockholders contained in the
Stockholders Agreement shall be such definition in effect on the Fourth Amendment
Effective Date.

     “Quarterly Average Excess Availability” means, at any time, the average
of the Excess Availability for each day of the immediately preceding calendar
quarter as calculated by the Agent (which shall be conclusive absent manifest
error).

     “Spinoff” means the transfer by NACCO or one of its wholly-owned
Subsidiaries of its ownership interest in Holdings to the shareholders of NACCO
pursuant to a spinoff transaction.

     “Spinoff Agreement” means that certain Amended and Restated Spinoff
Agreement, dated April 15, 2007, by and among NACCO, Housewares Holding Company,
Holdings and the Company.

     “Term Loan” shall have the meaning assigned to the term “Term Loan” in
the Term Loan Term Sheet.

     “Term Loan Administrative Agent” means UBS AG, Stamford Branch, in its
capacity as administrative agent under the Term Loan Credit Agreement, together with
its successors and assigns.

     “Term Loan Cap Amount” means $150,000,000.

     “Term Loan Commitment Letter” means that certain commitment letter
dated April 25, 2007 from Wachovia Bank, National Association, Wachovia Capital
Markets, LLC, UBS Securities LLC, UBS Loan Finance LLC and UBS AG, Stamford Branch
to the Company and Holdings, a copy of which is attached to the Fourth Amendment as
Exhibit B.

 

9

     “Term Loan Commitment Papers” means the Term Loan Term Sheet and the
Term Loan Commitment Letter.

     “Term Loan Credit Agreement” means a credit agreement evidencing a
senior secured term loan credit facility on the terms and conditions set forth in
the Term Loan Commitment Papers to be entered into by the U.S. Credit Parties, the
Term Loan Administrative Agent and the various lenders and agents thereunder, a copy
of which is attached to the Fourth Amendment as Exhibit C, as the same may
be amended, supplemented, restated or otherwise modified from time to time to the
extent permitted hereunder.

     “Term Loan Documents” shall have the meaning set forth in the
Intercreditor Agreement.

     “Term Loan Obligations” shall have the meaning set forth in the
Intercreditor Agreement.

     “Term Loan Term Sheet” means the Summary of Terms and Conditions
describing a $125,000,000 Senior Secured Term Loan B Facility attached to the Term
Loan Commitment Letter as Exhibit A.

     “Transition Services Agreement” means that certain Transition Services
Agreement to be entered into by and among NACCO, Holdings and Kitchen Collection,
Inc.

     (R) The definitions of the terms “Closing Date Interest Rate Protection Agreements”,
“Current Derivative Exposure”, “Eligible Trademarks Amount”, “Derivative Reserve”, “Eligible
Mexican Accounts Receivable”, “Extraordinary Dividend”, “Funded Derivative Reserve”,
“Initial Current Derivative Exposure”, “Inventory Reliance Percentage”, “NACCO Debt” and
“Special Dividend” are hereby deleted from Section 1.1 of the Credit Agreement.

     SUBPART 2.2. Amendment to Section 6.20. Section 6.20 of the Credit Agreement is
hereby amended by adding the word “patents,” in the first line between the words “right to use,
all” and “trademarks, tradenames”.

     SUBPART 2.3. Amendment to Section 7.1. Section 7.1 of the Credit Agreement is hereby
amended by re-lettering clause (k) as clause (l) and adding a new clause (k) which shall read as
follows:

     (k) Term Loan Notices. Promptly upon receipt thereof, the Company shall
furnish to the Administrative Agent copies of all notices delivered to the Company or sent
by or on behalf of the Company with respect to the Term Loan (other than notices that are
duplicative of notices delivered hereunder and conversion/continuation notices); and

 

10

     SUBPART 2.4. Amendment to Section 7.8. Section 7.8 of the Credit Agreement is hereby
deleted in its entirety and replaced with the following:

     7.8 [Reserved].

     SUBPART 2.5. Amendment to Section 7.10. Section 7.10 of the Credit Agreement is hereby
deleted in its entirety and replaced with the following:

     The proceeds of the Loans hereunder will be used solely (a) for capital expenditures
and general corporate and working capital purposes of the Borrowers and their Subsidiaries
in the ordinary course of business and (b) as otherwise permitted under this Agreement.

     SUBPART 2.6. Amendment to Section 7.13. Section 7.13(b) of the Credit Agreement is
hereby deleted in its entirety and replaced with the following:

(b) The Administrative Agent shall be entitled to obtain new Inventory Appraisals from
time to time as it deems necessary. At least one Inventory Appraisal will be conducted per
year for the first two years following the Fourth Amendment Effective Date and each year
thereafter until such time as the Leverage Ratio falls below 2.5 to 1.0, each such Inventory
Appraisal to be at the Credit Parties’ expense. Prior to the occurrence and continuance of
an Event of Default, any additional Inventory Appraisals shall be at the expense of the
Lenders on a pro rata basis according to each such Lender’s aggregate Commitment as of the
date such Inventory Appraisal is requested. After the occurrence and during the continuance
of an Event of Default, each Inventory Appraisal shall be at the sole expense of the Credit
Parties. Upon receipt of each new Inventory Appraisal, the Administrative Agent shall be
entitled to adjust the Applicable Inventory Percentage, as appropriate.

     SUBPART 2.7. Amendment to Article VIII. Article VIII of the Credit Agreement is
hereby amended as follows:

     (A) Section 8.1 is hereby deleted in its entirety and replaced with the following:

     8.1 Fixed Charge Coverage Ratio.

     If, at any time, Excess Availability is less than $25,000,000 (the
“Availability Threshold”) for more than three consecutive days, the
Consolidated Group shall maintain a Fixed Charge Coverage Ratio of not less than
1.00 to 1.00. If the Availability Threshold is triggered, compliance with this
covenant will be
tested retroactively as of the most recently ended fiscal quarter for which
financial statements were required to have been delivered pursuant to Section
7.1(b), and compliance with this covenant will be tested as of each subsequent
fiscal quarter end thereafter until Excess Availability is greater than the
Availability Threshold for each day during one complete fiscal quarter.

 

11

     (B) Sections 8.2 and 8.3 are hereby deleted in their entirety.

     SUBPART 2.8. Amendment to Section 9.1. Section 9.1 of the Credit Agreement is hereby
amended as follows:

     (A) Clause (d) is hereby amended by deleting the words “(exluding the Mexican Property
Financing)”.

     (B) Clause (f) is hereby deleted in its entirety and replaced with the following:

     (f) obligations of the Borrowers in respect of Hedging Agreements (including
Interest Rate Protection Agreements) entered into in order to manage existing or
anticipated interest rate, exchange rate or commodity price risks and not for
speculative purposes;

     (C) Clause (g) is hereby deleted in its entirety and replaced with the following:

     (g) the guaranty by one Credit Party of another Credit Party’s obligations, to
the extent such obligations constitute Indebtedness permitted hereunder;

     (D) Clause (k) is hereby deleted in its entirety and replaced with the following:

     (k) provided that the Intercreditor Agreement has been executed and delivered,
the Term Loan Obligations of the Company in an aggregate principal amount not to
exceed the Term Loan Cap Amount and renewals, refinancings or extensions thereof in
whole or in part, so long as the Intercreditor Agreement or a replacement
intercreditor agreement satisfactory to Administrative Agent and all the Lenders is
in effect;

     (E) Clause (l) is hereby deleted in its entirety and replaced with the following:

     (l) [Intentionally Omitted];

     SUBPART 2.9. Amendment to Section 9.5. Section 9.5 of the Credit Agreement is hereby
amended by deleting clause (i) in its entirety and replacing it with the following:

     (i) sales, licenses, assignments, transfers and other dispositions of Intellectual
Property in the ordinary course of business and the license of Intellectual Property to The
Kitchen Collection, Inc. without any right of The Kitchen Collection, Inc. to
sublicense such Intellectual Property; and

     SUBPART 2.10. Amendment to Section 9.7. Section 9.7 of the Credit Agreement is
hereby amended by deleting the proviso at the end thereof in its entirety and replacing it with the
following:

 

12

     provided, that the following transactions shall be permitted (i) the license of
Intellectual Property by the Company to The Kitchen Collection, Inc. without the right of
The Kitchen Collection, Inc. to sublicense such Intellectual Property, (ii) payments or
repayments of advances to NACCO or Holdings pursuant to the Tax Sharing Agreement to the
extent consistent with past practices, (iii) transactions permitted pursuant to Sections
9.1, 9.4, 9.5, 9.10 or 9.11, (iv) transactions pursuant to and in accordance with the
Transition Services Agreement; and (v) transactions pursuant to and in accordance with the
terms of the Spinoff Agreement.

     SUBPART 2.11. Amendment to Section 9.11. Section 9.11 of the Credit Agreement is
hereby deleted in its entirety and replaced with the following:

     9.11 Restricted Payments.

     The Consolidated Parties will not make any Restricted Payment other than, without
duplication:

     (a) (i) dividends, distributions or other payments from any Consolidated Party
(other than a Credit Party) to any Borrower, (ii) distributions or other payments
from any U.S. Credit Party to any Canadian Credit Party not to exceed $5,000,000 in
the aggregate (which $5,000,000 limitation shall include Investments made pursuant
to clause (c)(i) of the definition of Permitted Investments, loans under Section
9.1(e)(iii) and asset dispositions under Section 9.5(d)(v)), and (iii) dividends,
distributions or other payments from any Canadian Credit Party to any U.S. Credit
Party not to exceed $15,000,000 in the aggregate (which $15,000,000 limitation shall
include Investments made pursuant to clause (c)(ii) of the definition of Permitted
Investments, loans under Section 9.1(e)(i) and asset dispositions under Section
9.5(d)(vi));

     (b) the payment by the Company of cash dividends on its common Capital Stock in
the aggregate not to exceed in any one fiscal year an amount equal to (A) $5,000,000
plus (B) 50% of Consolidated Net Income since the Fourth Amendment Effective Date,
plus (C) 100% of the Net Cash Proceeds of any Equity Issuances since the Closing
Date; provided, that both before and after the payment of such dividends, no Default
or Event of Default shall exist;

     (c) the payment of the Dividend with the proceeds of the Term Loan;

     (d) dividends or distributions by any Borrower to Holdings consistent with past
practices (i) to pay franchise taxes and other amounts allocable to any Borrower and
its respective Subsidiaries required by Holdings to maintain its corporate
existence, and (ii) to reimburse Holdings for the payment of amounts relating to
travel and entertainment expenses and legal, consulting, software, accounting and
other similar services provided by third parties on the Borrowers’ or any of their
Subsidiaries’ behalf in the ordinary course of its business;

 

13

     (e) dividends or distributions by the Borrowers to Holdings to pay for all
operating and overhead expenses of Holdings actually incurred by Holdings
(including, without limitation, salaries and other compensation of employees, and
directors’ fees and expenses);

     (f) prior to the consummation of the Spinoff, payments or repayments of
advances to NACCO or Holdings pursuant to the Tax Sharing Agreement to the extent
consistent with past practices; and

     (g) payments pursuant to and in accordance with the terms of the Transition
Services Agreement.

     SUBPART 2.12. Amendment to Section 9.15. Section 9.15 of the Credit Agreement is
hereby amended by adding the following paragraph:

     No Term Loan Document may be amended or otherwise modified and no Term Loan Obligations
may be refinanced other than consistent with, and subject to, the terms of the Intercreditor
Agreement.

     SUBPART 2.13. Amendment to Section 9.20. Section 9.20 of the Credit Agreement is
hereby deleted in its entirety and replaced with the following:

     9.20 Excess Availability.

     The Credit Parties will not permit Excess Availability to be less than $15,000,000 (net
of past due accounts payable) at any time.

     SUBPART 2.14. Addition of Section 9.21. A new Section 9.21 is hereby added in
appropriate numerical order which shall read as follows:

     9.21 Prepayments of the Term Loan Obligations.

     No optional or mandatory prepayments in respect of the Term Loan shall be made other
than in accordance with the terms of Section 2.10 (and the defined terms used therein) of
the Term Loan Credit Agreement as in effect on the date of Term Loan Credit Agreement, as
amended from time to time in accordance with the terms of the
Intercreditor Agreement. For the avoidance of doubt, scheduled payments of principal
and interest in respect of the Term Loan are permitted.

     SUBPART 2.15. Amendment to Article X. Article X of the Credit Agreement is hereby
amended by adding a new Section 10.4 which shall read as follows:

     10.4 Intercreditor Agreement.

 

14

     Each of the Lenders hereby acknowledges that it has received and reviewed the
Intercreditor Agreement and agrees to be bound by the terms thereof. Each Lender (and each
Person that becomes a Lender hereunder pursuant to Section 14.3) hereby authorizes the
Administrative Agent to enter into the Intercreditor Agreement on behalf of such Lender and
agrees that the Administrative Agent may take such actions on its behalf as is contemplated
by the terms of the Intercreditor Agreement.

     SUBPART 2.16. Amendment to Section 11.1. Section 11.1 of the Credit Agreement is
hereby amended as follows:

     (A) Clause (g) is hereby amended by adding the words “(including, without limitation,
the Term Loan)” following the words “With respect to any Indebtedness” at the beginning of
such clause.

     (B) Clause (h) is hereby amended by deleting the number “1,000,000” and replacing it
with the number “2,000,000.

     (C) Clause (l) is hereby deleted in its entirety and replaced with the following:

     (l) Defective Liens. Other than with respect to de minimus items of
Collateral not to exceed $250,000 in the aggregate, any security interest and Lien
purported to be created by any Security Document shall cease to be in full force and
effect (other than in accordance with its terms), or shall cease to give the
Administrative Agent for the benefit of the Lenders, the Liens, rights, powers and
privileges purported to be created and granted under such Security Document in favor
of the Administrative Agent, including a perfected first priority security interest
in and Lien on all of the Collateral (except as otherwise expressly provided in this
Agreement or such Security Document, subject to Permitted Liens), or shall be
asserted by the Borrower or any other Credit Party not to be a valid, perfected and
first priority security interest in or Lien on the Collateral covered thereby
(except as otherwise expressly provided in this Agreement or such Security Document,
subject to Permitted Liens).

     (D) The following new clause (m) is hereby added to Section 11.1:

     (m) Intercreditor Agreement. The Intercreditor Agreement, at any time
after its execution and delivery and for any reason (other than (i) as expressly
permitted hereunder, (ii) upon satisfaction in full of all the Obligations or
(iii) if terminated by the Lenders), ceases to be in full force and effect or is
determined by any Governmental Authority or arbitral entity having jurisdiction to
be void, unenforceable or otherwise not in full force and effect, in whole or in
part, for any reason.

 

15

PART III

CONDITIONS TO EFFECTIVENESS

     SUBPART 3.1. Amendment Effective Date. This Amendment shall be and become effective
as of the date hereof (the “Amendment Effective Date”) when all of the conditions set forth
in this Subpart 3.1 shall have been satisfied.

SUBPART 3.1.1. Execution of Counterparts of Amendment. The
Administrative Agent shall have received counterparts of this Amendment, which collectively
shall have been duly executed on behalf of the Borrower and all of the Lenders.

SUBPART 3.1.2. Amendment Fee. The Company shall have paid or caused to be
paid an amendment fee to the Administrative Agent in connection with this Amendment for the
account of each Lender that shall have returned executed signature pages to this Amendment
on May 30, 2007, as directed by the Administrative Agent, in an aggregate amount equal to
$172,500 to be shared by such Lenders on a pro rata basis according to each such Lender’s
aggregate Commitment as of the date hereof.

SUBPART 3.1.3. Other Fees. The Company shall have paid or caused to be paid
such other fees and expenses owed by them to the Lenders and the Administrative Agent to the
extent invoiced prior to the Fourth Amendment Effective Date or reflected in the Fourth
Amendment Fee Letter.

SUBPART 3.1.4. Resolutions. The Administrative Agent shall have received
certified copies of resolutions of the board of directors of each of the Borrowers and
consents from any applicable third party approving this Amendment and authorizing the
execution and delivery hereof.

SUBPART 3.1.5. Legal Opinion. The Administrative Agent shall have received an
opinion, or opinions, in form and substance satisfactory to the Administrative Agent,
addressed to the Agents on behalf of the Lenders and dated as of the date hereof, from U.S.
legal counsel to the Credit Parties which covers, among other matters, valid corporate
existence and authority, legality, validity and binding effect of this Amendment and the
Credit Agreement, as amended by this Amendment, and the absence of any violation of law or
regulation or conflict with any existing material contracts.

SUBPART 3.1.6. Opening Availability. The Company shall have Excess
Availability of at least $25,000,000 on the Fourth Amendment Effective Date, after giving
effect to the transactions contemplated by this Amendment

SUBPART 3.1.7. Payment of Legal Fees. The Company shall have paid or caused
to be paid (i) the legal fees and expenses of Moore & Van Allen, PLLC, legal counsel to the
Administrative Agent, related to this Amendment and the transactions contemplated hereby and
(ii) the outstanding legal fees and expenses of Border Ladner Gervais, Canadian legal
counsel to the Administrative Agent.

 

16

SUBPART 3.1.8 Other Documents. The Administrative Agent shall have received
such other documentation and legal opinions as the Administrative Agent may reasonably
request in connection with the foregoing, all in form reasonably satisfactory to the
Administrative Agent.

PART IV

REPRESENTATIONS AND WARRANTIES

     SUBPART 4.1. Each Borrower hereby represents and warrants that (i) the representations and
warranties contained in Article VI of the Credit Agreement are true and correct in all material
respects on and as of the date hereof as though made on and as of such date (except for those which
by their terms expressly relate to an earlier date) and after giving effect to the transactions
contemplated herein, (ii) no Default or Event of Default has occurred and is continuing on and as
of the date hereof and after giving effect to the transactions contemplated herein, (iii) it has
the corporate power and authority to execute and deliver this Amendment and to perform its
obligations hereunder and has taken all necessary corporate action to authorize the execution,
delivery and performance by it of this Amendment, and (iv) it has duly executed and delivered this
Amendment, and this Amendment constitutes its legal, valid and binding obligation enforceable in
accordance with its terms except as the enforceability thereof may be limited by bankruptcy,
insolvency or other similar laws affecting the rights of creditors generally or by general
principles of equity.

PART V

MISCELLANEOUS

     SUBPART 5.1. Cross-References. References in this Amendment to any Part or Subpart
are, unless otherwise specified, to such Part or Subpart of this Amendment.

     SUBPART 5.2. Instrument Pursuant to Credit Agreement. This Amendment is a Credit
Document executed pursuant to the Credit Agreement and shall (unless otherwise expressly indicated
therein) be construed, administered and applied in accordance with the terms and provisions of the
Credit Agreement.

     SUBPART 5.3. References in Other Credit Documents. At such time as this Amendment
shall become effective pursuant to the terms of Subpart 3.1, all references in the Credit
Documents to the “Credit Agreement” shall be deemed to refer to the Credit Agreement as amended by
this Amendment.

     SUBPART 5.4. Survival. Except as expressly modified and amended in this Amendment,
all of the terms and provisions and conditions of each of the Credit Documents shall remain
unchanged.

     SUBPART 5.5. Counterparts. This Amendment may be executed in any number of
counterparts, each of which when so executed and delivered shall be deemed an original and it

 

17

shall
not be necessary in making proof of this Amendment to produce or account for more than one such
counterpart. Delivery of an executed counterpart of this Amendment by telecopy shall be as
effective as an original executed counterpart hereof and shall constitute a representation that an
original executed counterpart will be delivered.

     SUBPART 5.6. Governing Law. THIS AMENDMENT SHALL BE DEEMED TO BE A CONTRACT MADE
UNDER AND GOVERNED BY THE INTERNAL LAWS OF THE STATE OF NEW YORK WITHOUT GIVING EFFECT TO THE
CONFLICT OF LAW PRINCIPLES THEREOF.

     SUBPART 6.7. Successors and Assigns. This Amendment shall be binding upon and inure
to the benefit of the parties hereto and their respective successors and assigns.

     SUBPART 6.8. Anticipated Subordination of Lien in Certain Collateral. The Agent and
the Lenders hereby acknowledge and agree that the terms of the Intercreditor Agreement to be
entered into with the Term Loan Administrative Agent at the time of the execution of the Term Loan
Documents will subordinate the Administrative Agent’s existing lien in certain collateral as
described in the Summary of Terms and Conditions describing this amendment and the Term Loan
Commitment Papers.

[remainder of page intentionally left blank]

 

 

     Each of the parties hereto has caused a counterpart of this Amendment to be duly executed
and delivered as of the date first above written.

	 	 	 	 	 	 	 
	COMPANY:	 	HAMILTON BEACH/PROCTOR-SILEX, INC.,
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ James H. Taylor	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	James H. Taylor	 	 
	 

	 	Title:
	 	Vice President, Chief Financial Officer and Treasurer	 	 
	 
	 	 	 	 	 	 
	 	 	U.S. SUBSIDIARY BORROWERS:	 	 
	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	NONE.	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	CANADIAN BORROWER:
	 
	 	 	 	 	 	 
	 	 	PROCTOR-SILEX CANADA INC.
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ James H. Taylor	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	James H. Taylor	 	 
	 

	 	Title:
	 	Vice President, Chief Financial Officer and Treasurer	 	 

 

 

	 	 	 	 	 	 	 
	 	 	AGENTS AND LENDERS:
	 
	 	 	 	 	 	 
	 	 	WACHOVIA BANK, NATIONAL ASSOCIATION
	 	 	in its capacity as Administrative Agent and as a Lender
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Bruce Rhodes	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Bruce Rhodes	 	 
	 

	 	Title:
	 	Director	 	 

 

 

	 	 	 	 	 	 	 
	 	 	WACHOVIA CAPITAL FINANCE CORPORATION
	 	 	(CANADA) (as successor to Congress Financial
	 	 	Corporation (Canada)), in its capacity as Canadian Agent
	 
	 	 	 	 	 	 
	 

	 	By:
	 	     /s/ Bruce Rhodes	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Bruce Rhodes	 	 
	 

	 	Title:
	 	Director	 	 

 

 

	 	 	 	 	 	 	 
	 	 	KEY BANK, NATIONAL ASSOCIATION
	 	 	in its capacity as Syndication Agent and as a Lender
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Timothy W. Kenealy	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Timothy W. Kenealy	 	 
	 

	 	Title:
	 	Vice President	 	 

 

 

	 	 	 	 	 	 	 
	 	 	BANK OF AMERICA, N.A.,
	 	 	in its capacity as Documentation Agent and as a Lender
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Seth Benefield	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Seth Benefield	 	 
	 

	 	Title:
	 	Vice President	 	 

 

 

	 	 	 	 	 	 	 
	 	 	NATIONAL CITY BUSINESS CREDIT, INC.,
	 	 	in its capacity as Documentation Agent and as a Lender
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Tom Buda	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Tom Buda	 	 
	 

	 	Title:
	 	VP	 	 

[end of signature pages]

 

 

Exhibit A

to

Fourth Amendment to Credit Agreement

Form of Intercreditor Agreement

See attached.

 

 

Exhibit B

to

Fourth Amendment to Credit Agreement

Term Loan Commitment Letter

See attached.

 

 

Exhibit C

to

Fourth Amendment to Credit Agreement

Term Loan Credit Agreement

See attached.

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