Document:

Exhibit 10.17

PLEASE NOTE THAT CERTAIN MATERIAL HAS
BEEN OMITTED FROM THIS AGREEMENT AND NOTED AS “*REDACTED*” PURSUANT TO A
REQUEST FOR CONFIDENTIAL TREATMENT AND THAT MATERIAL HAS BEEN FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION.

SETTLEMENT & LICENSE
AGREEMENT

This Settlement
Agreement is entered into by and between Vision Ease Lens, Inc., (“VEL”), a
Minnesota corporation having its principal place of business at One Meridian
Crossings, Suite 850, Minneapolis, Minnesota 55423 and Younger Mfg. Co., a
California corporation having its principal place of business at 2925
California Street, Torrance, California 90503 (“Younger”).

RECITALS

WHEREAS, VEL
brought a civil action against Younger in the United States District Court for
the District of Minnesota, Civil No. 02CV-12 JMR/VLN (the “Action”) alleging
that Younger has infringed and is infringing U.S. Patent No. 6,328,446 (the “‘446
Patent”);

WHEREAS, Younger
brought Counterclaims against VEL in the aforesaid Action alleging invalidity,
unenforceability, and noninfringement of the ‘446 Patent;

WHEREAS, the
Parties desire to resolve and settle any and all disputes between them relating
to the aforementioned recitals;

NOW, THEREFORE, in
consideration of the foregoing and the further promises, covenants, and
obligations hereinafter set forth. the parties agree to the following terms and
conditions:

Terms and Conditions

1.                                      License
Agreement

On the date this
Settlement Agreement is executed (“Effective Date”), the Parties shall also
execute the License Agreement set forth in Exhibit A.  The License Agreement is incorporated herein
by reference.

 

PLEASE NOTE THAT CERTAIN MATERIAL HAS BEEN OMITTED FROM THIS
AGREEMENT AND NOTED AS “*REDACTED*” PURSUANT TO A REQUEST FOR CONFIDENTIAL
TREATMENT AND THAT MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION.

2.                                      Releases
and Covenants

By execution of
this Settlement Agreement, the Parties, for themselves and their agents,
representatives, successors, and assigns, hereby forever release and discharge
one another, their affiliates, subsidiaries, shareholders, directors, officers,
employees, representatives, agents, attorneys, successors, and assigns from any
and all claims that were asserted or could have been asserted in the Action, up
to the date of this Settlement Agreement. 
Except as explicitly released in the foregoing sentence or as released
by the effect of the license contained in the License Agreement executed
herewith, the parties do not intend and do not make any releases of each other,
or any other person or entity.  The
release granted in this section shall be void and of no effect in the event
either party breaches its obligations under this Settlement Agreement or the
License Agreement.

3.                                      Dismissal
of Pending Action

Promptly upon the
execution of this Agreement, the Parties agree to execute and file a joint
motion to dismiss the Action with prejudice and without an award of costs or
fees to any party.  The joint motion
shall be in the form set forth in the attached Exhibit B.

4.                                      Press
Release

Upon execution and
delivery of this Agreement, the parties agree to the release of a joint press
release concerning the settlement of the Action using the text attached as
Exhibit C hereto.

5.                                      Confidentiality
of Settlement Agreement

Absent prior
written approval of both Parties, the terms of this Settlement Agreement,
including terms of the License Agreement, shall be treated as confidential and
shall not be disclosed to any third party, except (a) as required by a
governmental regulation or rule, or

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PLEASE NOTE THAT CERTAIN MATERIAL HAS
BEEN OMITTED FROM THIS AGREEMENT AND NOTED AS “*REDACTED*” PURSUANT TO A
REQUEST FOR CONFIDENTIAL TREATMENT AND THAT MATERIAL HAS BEEN FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION.

generally
accepted accounting principles, (b) as ordered by a court of competent
jurisdiction, (c) as is reasonably required by financial institutions, or
accountants, and, (d) in accordance with the Press Release.

6.                                      Confidentiality
of Records

The Parties agree
to return or destroy the other’s respective confidential documentation produced
during the Actions as set forth in the Stipulation and Protective Orders
entered during those lawsuits.  The
provisions of this Settlement Agreement supersede any inconsistent provisions
in said Stipulation and Protective Orders.

7.                                      Requisite
Authorities

The signatories to
this Settlement Agreement warrant that they have authority to bind the parties
they represent.  This Settlement
Agreement may be executed in counterparts, each of which shall constitute
together one and the same instrument.

8.                                      Assigns,
Successors, and Transferees

The obligations of
the Settlement Agreement and the License Agreement shall bind assigns,
successors-in-interest, or transferees of the Parties.  The License Agreement is subject to the
restrictions on assignment set forth in Section 10.3 of the License Agreement.

9.                                      Admissions

This Settlement
Agreement is entered into for purposes of compromise, and neither the fact of
this Settlement Agreement or the License Agreement nor any of its provisions
shall constitute an admission or be utilized as such (a) by any third party for
any purpose, nor (b) by either party to this Settlement Agreement as against
the other, except to prove and enforce the terms of this Settlement Agreement.

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PLEASE NOTE THAT CERTAIN MATERIAL HAS BEEN OMITTED FROM THIS
AGREEMENT AND NOTED AS “*REDACTED*” PURSUANT TO A REQUEST FOR CONFIDENTIAL
TREATMENT AND THAT MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION.

10.                               Modification
and Waiver

Failure by any
party to enforce any provision of this Settlement Agreement or the License
Agreement shall not be deemed a waiver of that provision or any other provision
of this Settlement Agreement or the License Agreement.  Any claim of waiver of any right, obligation,
term, or condition of this Settlement Agreement and any claim that any
provision of this Settlement Agreement or the License Agreement has been
modified, altered, amended, or otherwise changed shall be null and void unless
such waiver, modification, or amendment is made in writing and signed by
authorized representatives of each of the Parties.

11.                               Severability

If any term or
provision of this Settlement Agreement and License Agreement is found to be
invalid under any applicable statute or rule of law then, that provision
notwithstanding, this Agreement shall remain in full force and effect and such
provision shall be deleted.

12.                               Notice
and Cure

Prior to bringing
any action to enforce an alleged violation of this Agreement, a Party shall
give the alleged violator written notice of the nature of the alleged
violation.  Notice permitted or required
to be given under this Settlement Agreement shall be deemed sufficient if given
in writing by facsimile, commercial air delivery service or by registered or
certified air mail, postage prepaid, return receipt requested, addressed to the
respective addresses of the parties set forth below or at such other address as
the respective parties may designate by like notice from time to time.  Notices so given shall be effective upon the
earlier of:  (a) receipt by the party to
which notice is given (which, in the instance of a facsimile, shall be deemed
to have occurred at the time that the machine transmitting the facsimile verifies
a successful transmission of the facsimile); (b) on the fifth business day
following the date such notice was

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PLEASE NOTE THAT CERTAIN MATERIAL HAS
BEEN OMITTED FROM THIS AGREEMENT AND NOTED AS “*REDACTED*” PURSUANT TO A
REQUEST FOR CONFIDENTIAL TREATMENT AND THAT MATERIAL HAS BEEN FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION.

deposited
in the mail; or (c) on the second business day following the date such notice
was delivered to a next-day commercial air delivery service.  This notice shall be sent to:

	
  If to Younger:

  	
   

  	
  David Rips, President

  
	
   

  	
   

  	
  Younger Mfg. Co.

  
	
   

  	
   

  	
  2925 California Street

  
	
   

  	
   

  	
  Torrance, California
  90503

  
	
   

  	
   

  	
  Fax: (310) 783-4724

  
	
   

  	
   

  	
   

  
	
  With a copy to:

  	
   

  	
  David H. Dicker, Esq.

  
	
   

  	
   

  	
  DICKER & DICKER,
  LLP

  
	
   

  	
   

  	
  16530 Ventura
  Boulevard, Suite 609

  
	
   

  	
   

  	
  Encino, California
  91436

  
	
   

  	
   

  	
  Fax: (818) 971-3747

  
	
   

  	
   

  	
   

  
	
  If to VEL:

  	
   

  	
  Vision Ease Lens, Inc.

  
	
   

  	
   

  	
  One Meridian Crossings

  
	
   

  	
   

  	
  Suite 850

  
	
   

  	
   

  	
  Minneapolis, Minnesota
  55423

  
	
   

  	
   

  	
  Attn: Chief Executive
  Officer

  
	
   

  	
   

  	
  Fax: (952) 851-6050

  
	
   

  	
   

  	
   

  
	
  With a copy to:

  	
   

  	
  Oppenheimer Wolff &
  Donnelly LLP

  
	
   

  	
   

  	
  840 Newport Center
  Drive

  
	
   

  	
   

  	
  Suite 700

  
	
   

  	
   

  	
  Newport Beach,
  California 92660

  
	
   

  	
   

  	
  Attn: James W. Inskeep

  
	
   

  	
   

  	
  Fax: (949) 823-6031

  

 

The alleged
violator shall have twenty (20) business days following receipt of this notice
to remedy the violation prior to the filing of an action.

13.                               Fees
and Costs

All parties shall
bear their own fees and costs arising out of or related to the Action.

14.                               Governing
Law

This Agreement
shall be construed under the laws of the State of Minnesota.

15.                               Headings

The inclusion of
headings in this Settlement Agreement is for convenience only and shall not
affect the construction or interpretation hereof.

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PLEASE NOTE THAT CERTAIN MATERIAL HAS
BEEN OMITTED FROM THIS AGREEMENT AND NOTED AS “*REDACTED*” PURSUANT TO A
REQUEST FOR CONFIDENTIAL TREATMENT AND THAT MATERIAL HAS BEEN FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION.

IN WITNESS HEREOF,
the parties have caused this Settlement Agreement to be executed by their duly
authorized representatives effective as of the date on which both parties have
signed this Settlement Agreement as set forth below.

	
  YOUNGER MFG. CO.

  	
   

  	
  VISION-EASE LENS, INC.

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ Joseph David
  Rips

  	
   

  	
  By:

  	
  /s/ Kurt Peterson

  
	
   

  	
   

  	
   

  
	
  Its:

  	
  President &
  CEO

  	
   

  	
  Its:

  	
  Sr. Vice President
  & CEO

  
	
   

  	
   

  	
   

  
	
  Dated:

  	
  March 14, 2003

  	
   

  	
  Dated:

  	
  March 17, 2003

  
									

 

 

 6

 

PLEASE
NOTE THAT CERTAIN MATERIAL HAS BEEN OMITTED FROM THIS AGREEMENT AND NOTED AS
“*REDACTED*” PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT AND THAT MATERIAL
HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.

EXHIBIT A

LICENSE AGREEMENT I

This
License Agreement (this “Agreement”), dated as of March 13, 2003, is entered
into by and between VISION-EASE LENS, INC., a Minnesota corporation having its
principal place of business at One Meridian Crossings, Suite 850, Minneapolis,
Minnesota 55423 (“VEL”) and YOUNGER MFG. CO., a California corporation having
its principal place of business at 2925 California Street, Torrance, California
90503 (“Younger”).

WHEREAS,
VEL brought a civil action against Younger in the United States District Court
for the District of Minnesota, Civil No. 02CV-12 JMR/VLN (the “Action”)
alleging that Younger has infringed and is infringing U.S. Patent No. 6,328,446
(the “‘446 Patent”);

WHEREAS,
Younger brought Counterclaims against VEL in the aforesaid Action alleging
invalidity, unenforceability, and non-infringement of the ‘446 Patent;

WHEREAS,
the parties desire to resolve and settle any and all disputes between them
relating to the aforementioned recitals without an admission of liability by
either Party;

WHEREAS,
a portion of the resolution and settlement of these disputes between the
parties includes the grant of a royalty bearing license to the ‘446 Patent;

NOW,
THEREFORE, in consideration of the foregoing and the further premises,
covenants, and obligations hereinafter set forth, the parties agree to the
following terms and conditions:

1.                                      Definitions.

1.1                                 “Affiliate”
means, with respect to any party hereto, any entity that, directly or
indirectly, controls, is controlled by, or is under common control with such
party.  As used in this definition, “control”
(and its correlative meanings, “controlled by” and “under common control with”)
means possession, directly or indirectly, of more than forty percent (40%) of
the voting shares of such entity or the power to direct or cause the direction
of management or policies (whether through beneficial ownership of securities
or other ownership interests, by management position, by contract or
otherwise).

1.2                                 “Effective
Date” means the date on which this Agreement is duly executed by VEL and
Younger.

1.3                                 “Licensed
Field” means the field of polycarbonate, molded, ophthalmic lenses with
polarization, and specifically excludes polycarbonate, molded ophthalmic lenses
with photochromic or other properties.

 

PLEASE NOTE THAT CERTAIN MATERIAL HAS BEEN
OMITTED FROM THIS AGREEMENT AND NOTED AS “*REDACTED*” PURSUANT TO A REQUEST FOR
CONFIDENTIAL TREATMENT AND THAT MATERIAL HAS BEEN FILED SEPARATELY WITH THE
SECURITIES AND EXCHANGE COMMISSION.

1.4                                 “Licensed
Younger Products” means Younger products encompassed by any claim of the
VEL Patents not dedicated to the public.

1.5                                 “Licensed
VEL Products” means VEL products encompassed by any claim of the Younger
Patents not dedicated to the public.

1.6                                 “Net
Sales Price” means the gross amount invoiced by Younger for sales under
this Agreement, less (a) quantity and cash discounts actually allowed; (b)
actual product returns, credits and allowances; (c) freight, insurance, taxes.
customs, duties and other government charges if separately set forth in the
invoiced amount.  Such deducted amounts
shall be determined from books and records maintained in accordance with
GAAP.  No deductions shall be made for
commissions paid to individuals, whether they are with independent sales
agencies or regularly employed by Younger and on its payroll, or for the cost
of collections.

1.7                                 “VEL
Patents” means claims of U.S. Patent Nos. 5,757,459, 5,856,860, 5,827,614 and
6,328,446, all foreign patents equivalent thereto, any predecessor
applications, and all reissues, re-examinations, continuations,
continuation-in-part applications, or divisionals of or to such patents,
including but not limited to, U.S. Patent Application Serial No. 09/848,594 filed May 3, 2001 and U.S.
Patent Application Serial No. 10/183,088 filed June 26, 2002.

1.8                                 “Younger
Patents” means claims of U.S. Patent No. 6,220,703, all foreign patents
equivalent thereto, any predecessor applications and any and all reissues, reexaminations, continuations, continuation-in-part
application, or divisionals of or to such patent, including but not limited to,
U.S. Patent Nos. 6,413,641 and 6,432,327, and U.S. Patent Application Serial
No. 09/832,083 filed April 9, 2001 and U.S. Patent Application Serial No. 10/037,673 filed January 3, 2002.

2.                                      License.

2.1                                 License
Grant.  Subject to the terms and
conditions of this Agreement, and for the consideration set forth in Section
2.2, VEL hereby grants to Younger, during the term, a worldwide. non-exclusive,
non-sublicensable, license under the VEL Patents to make, use, sell, have sold,
distribute, transfer or otherwise convey Licensed Younger Products for
consideration in the Licensed Field.

2.2                                 Consideration.  In consideration for the license granted in
Section 2.1, Younger agrees to the following:

(a)              Discount on VEL
Purchases.  Discount on VEL
Purchases.  Younger shall issue a
credit of Two Hundred Fifty Thousand Dollars ($250,000.00) to VEL to be taken
as a five percent (5%) discount to the selling price, based upon prices no less
favorable than those charged to customers with generally similar purchasing
levels and in no event shall the prices charged to VEL increase at a greater
rate than those with generally similar purchasing levels, of all products sold

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PLEASE NOTE THAT CERTAIN MATERIAL HAS BEEN
OMITTED FROM THIS AGREEMENT AND NOTED AS “*REDACTED*” PURSUANT TO A REQUEST FOR
CONFIDENTIAL TREATMENT AND THAT MATERIAL HAS BEEN FILED SEPARATELY WITH THE
SECURITIES AND EXCHANGE COMMISSION.

by Younger to
VEL between January 1, 2003 and December 31, 2004.  The discount will be applied to each invoice
issued by Younger to VEL for such products. 
In the event VEL does not utilize the full credit of Two Hundred Fifty
Thousand Dollars ($250,000.00) by December 31, 2004, and said failure is due to
no fault of Younger, then the discount shall terminate on such date.  If VEL is unable to use the full credit by
December 31,2004 due in whole or in part to Younger’s inability to fill VEL
purchase orders or other fault of Younger, VEL will receive the discount beyond
December 31, 2004 and until the full amount of the credit has been exhausted

(b)             Royalties.

(i)                                     Rate.
Younger shall pay VEL a royalty on the Net Sales Price of all Licensed Younger
Products sold, distributed, conveyed or otherwise transferred by Younger after
January 1, 2003 according to the following schedule for each calendar year:

	
  Year-To-Date Net Sales

  	
   

  	
  Royalty Rate

  
	
   

  	
   

  	
   

  
	
  $[*REDACTED*] Million

  	
   

  	
  [*REDACTED*]%

  
	
  $[*REDACTED*] Million

  	
   

  	
  [*REDACTED*]%

  
	
  $[*REDACTED*] Million

  	
   

  	
  [*REDACTED*]%

  
	
  $[*REDACTED*] Million

  	
   

  	
  [*REDACTED*]%

  

 

(ii)                                  Payment.  All royalties payable under this Section
2.2(b) shall be paid within thirty (30) days of the end of each calendar
quarter to which such royalty payment relates. 
Each royalty payment will be accompanied by a written statement, in a
form reasonably satisfactory to VEL showing the number of Licensed Younger
Products sold by Younger during such quarter and the amount of the royalty
payable to VEL in respect thereof, together with such other information as VEL
may reasonably request to ensure the accuracy of the royalty calculation.

(iii)                               Royalty
Term.  The license granted in Section
2.1 shall become a fully paid up license either (a) [*REDACTED*]
years from the Effective Date, or (b) at the time Younger has paid a
cumulative total of [*REDACTED*] in
royalties under Section 2.2(b), whichever occurs first.

(c)              License.  Younger hereby grants to VEL, a fully
paid-up, irrevocable, worldwide, non-sublicensable, non-exclusive license under
the Younger Patents to make, use, sell, have sold, distribute, transfer or
otherwise convey Licensed VEL Products for consideration.  The grant of this license shall survive the
expiration of this Agreement. 
Notwithstanding the foregoing, VEL shall have the right to grant a
sublicense to any Affiliate of VEL or BMC Industries, Inc. (“BMC”) of which
either VEL or BMC own at least eighty percent (80%) of the voting shares of
such entity as described in Section 10.3 herein.

 3
 

 

PLEASE NOTE THAT CERTAIN MATERIAL HAS BEEN
OMITTED FROM THIS AGREEMENT AND NOTED AS “*REDACTED*” PURSUANT TO A REQUEST FOR
CONFIDENTIAL TREATMENT AND THAT MATERIAL HAS BEEN FILED SEPARATELY WITH THE
SECURITIES AND EXCHANGE COMMISSION.

(d)             Credit Agreement.  As part of the consideration for entering
into this Agreement, Younger shall reasonably extend credit terms, consistent
with terms issued to other customers of Younger, for amounts in excess of [*REDACTED*].  Should
VEL’s account become more than thirty (30) days past due, then and in that
event, Younger may withhold payment under the terms of this Agreement until
such time as the debt owed by VEL is paid in full.

3.                                      Audit
Rights.

3.1                                 Audit.  Younger shall keep complete and accurate
books of account and records of all sales of Licensed Younger Products pursuant
to the license granted under Section 2.1 sufficient to determine the royalty
payments required pursuant to Section 2.2(b). 
Younger shall maintain these records for three (3) years after
termination or expiration of this Agreement, during which time and during
reasonable business hours, upon prior notice, and without undue interruption of
the business and operations of Younger, VEL shall have the right to have such books
and records audited once a year, unless circumstances exist that reasonably
support more than one audit during any given year, so as to verify the accuracy
of the payments to VEL.  Younger shall
fully cooperate with VEL and its designees in conducting any audit, including
but not limited to providing copies, back-up documents, and persons to explain
any documents or procedures.  The audit
shall be conducted by an independent third party and all information disclosed
during said audit shall remain confidential except as necessary to report the
findings, including the reason for any inaccurate accounting, to VEL or as
otherwise required to be reported to VEL by Younger under the terms of this
Agreement.

3.2                                 Rights
Pending Audit Results.  In the event
that the audit reveals an underpayment by Younger of the royalty payments
required by Section 2.2(b), Younger shall pay the difference, plus interest
calculated at a rate of ten percent (10%) per annum. If such underpayment is in
excess of five percent (5%) of the amount determined to be due by the auditor
for same period, the cost of the audit will be paid by Younger.

4.                                      Additional
Licenses.

4.1                                 [*REDACTED*]

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PLEASE NOTE THAT CERTAIN MATERIAL HAS BEEN
OMITTED FROM THIS AGREEMENT AND NOTED AS “*REDACTED*” PURSUANT TO A REQUEST FOR
CONFIDENTIAL TREATMENT AND THAT MATERIAL HAS BEEN FILED SEPARATELY WITH THE
SECURITIES AND EXCHANGE COMMISSION.

5.                                      No
Warranty; Validity; Infringement; Marking.

5.1                                 No
Warranty.  VEL makes no
representation or warranty of any kind, express or implied, nor assumes any
responsibilities whatsoever, to Younger, their respective customers or others,
with respect to the manufacture, use, sale or other disposition of Licensed
Younger Products pursuant to the licenses granted in Section 2.1.  Nothing in this Agreement will be construed
as an admission, warranty or representation as to the validity or scope of any
patent or the non-infringement of any third-party patents or intellectual
property; that VEL will assert or defend any patent; or that the Younger will
be successful in using the VEL Patents under this Agreement.

5.2                                 Validity.  Younger agrees that, during the term of this
Agreement, it will not challenge the validity or enforceability of any of the
VEL Patents and will not directly or indirectly support such a challenge by any
third party.  In the event that a third
party makes such a challenge and a court of competent jurisdiction renders a
final and binding judgment or decision holding all of the applicable claims of
the VEL Patents to be invalid and/or unenforceable, then this Agreement will
terminate.

5.3                                 Third-Party
Infringement.  Younger shall use its
commercially reasonable best efforts to promptly notify VEL of any infringement
of the VEL Patents or any other rights relating to the VEL Patents, or any act
of unfair competition by third parties relating to the VEL Patents, whenever
such infringement or act comes to Younger’s attention.  VEL shall have the right but not the
obligation to take such action as VEL deems appropriate to stop such
infringement or act.  In connection
therewith, Younger shall fully cooperate with VEL to respond to such
infringement or act.  VEL shall reimburse
Younger for the cost of reasonable attorneys’ fees or other costs incurred to
cooperate with VEL in responding to any such third party infringement.  Younger agrees that VEL shall have the sole
power in its discretion to take legal action or other action before any court
or governmental authority with respect to the infringement or the protection of
any of the VEL Patents.

5.4                                 Marking.  Younger shall mark all Licensed Younger
Products and containers therefor with applicable patent numbers from the VEL
Patents in accordance with 35 U.S.C. §
287.  VEL shall mark all Licensed VEL
Products and containers therefor with applicable patent numbers from the
Younger Patents in accordance with 35 U.S.C. § 287.

6.                                      Confidentiality.

6.1                                 Definition.  “Confidential Information” means any
information which is disclosed in any tangible form and (a) is clearly labeled
or marked as confidential, proprietary or its equivalent, (b) is disclosed
orally or visually, is designated confidential, proprietary or its equivalent
at the time of its disclosure and is reduced to writing and clearly marked or
labeled as confidential, proprietary or its equivalent within thirty (30) days
of disclosure, or (c) is of a nature that could reasonably be expected to be
confidential at the time of disclosure; provided that “Confidential

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PLEASE NOTE THAT CERTAIN MATERIAL HAS BEEN
OMITTED FROM THIS AGREEMENT AND NOTED AS “*REDACTED*” PURSUANT TO A REQUEST FOR
CONFIDENTIAL TREATMENT AND THAT MATERIAL HAS BEEN FILED SEPARATELY WITH THE
SECURITIES AND EXCHANGE COMMISSION.

Information”
does not include information that (i) was in the receiving party’s possession
or was known to it prior to its receipt from the disclosing party; (ii) is or
becomes public knowledge without the fault of the receiving party; (iii) is or
becomes rightfully available on an unrestricted basis to the receiving party
from a source other than the disclosing party; (iv) becomes available on an
unrestricted basis to a third party from the disclosing party or from someone
acting under the disclosing party’s control or (v) is independently developed
without reference to any Confidential Information of the disclosing party as
evidenced by contemporaneous written records.

6.2                                 Obligation.  No party hereto will disclose, directly or
indirectly, or use for any purposes other than in connection with this
Agreement, any Confidential Information received from any other party without
the prior written consent of such other party, and will keep such Confidential
Information in confidence using at least the same degree of care it uses to
protect its own proprietary information, but in no event less than reasonable
case.

7.                                      Representation
and Warranties.

7.1                                 Representations
and Warranties of the VEL.

(a)              Title.  VEL is the sole owner of the VEL Patents and
has the right to license the VEL Patents to Younger pursuant to this Agreement.

(b)             Authority.  VEL has the necessary power and authority to
enter into and deliver this Agreement and to perform its obligations hereunder
and to consummate the transactions contemplated hereby.  The execution and delivery of this Agreement
and the consummation of the transactions contemplated hereby by VEL have been
duly authorized by VEL.  This Agreement
constitutes the legal, valid and binding obligation of VEL, enforceable in
accordance with its terms, (except as such enforcement may be limited by
applicable bankruptcy, insolvency, moratorium, or similar laws affecting the
rights of creditors generally or by general principles of equity).

(c)              No Conflicting
Grants.  VEL has not, and will not
grant to any third party any licenses or other rights under the VEL Patent
Rights which will materially interfere with the Younger’s rights hereunder,
except as otherwise permitted under this Agreement.

7.2                                 Representation
and Warranties of Younger.

(a)              Title.  Younger is the sole owner of the Younger
Patents and has the right to license the Younger Patents to VEL pursuant to
this Agreement.

(b)             Authority.  Younger has the necessary power and authority
to enter into and deliver this Agreement and to perform its obligations
hereunder and to consummate the transactions contemplated hereby.  The execution and delivery of

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PLEASE NOTE THAT CERTAIN MATERIAL HAS BEEN
OMITTED FROM THIS AGREEMENT AND NOTED AS “*REDACTED*” PURSUANT TO A REQUEST FOR
CONFIDENTIAL TREATMENT AND THAT MATERIAL HAS BEEN FILED SEPARATELY WITH THE
SECURITIES AND EXCHANGE COMMISSION.

this Agreement
and the consummation of the transactions contemplated hereby by Younger have
been duly authorized by Younger.  This
Agreement constitutes the legal, valid and binding obligation of Younger,
enforceable in accordance with its terms, (except as such enforcement may be
limited by applicable bankruptcy, insolvency, moratorium, or similar laws
affecting the rights of creditors generally or by general principles of
equity).

(c)              No Conflicting
Grants.  Younger has not, and will
not grant to any third party any licenses or other rights under the Younger
Patents which will materially interfere with the VEL’s rights hereunder, except
as otherwise permitted under this Agreement.

8.                                      Indemnification.

8.1                                 Younger
Indemnification.  Younger shall at
all times during the term of this Agreement and thereafter, indemnify, defend
and hold VEL, its members, officers, employees and Affiliates, harmless against
all claims, proceedings, demands and liabilities of any kind whatsoever,
including legal expenses and reasonable attorneys’ fees, arising out of (1) the
death of or injury to any person or out of any damage to property resulting
from the production, manufacture, sale, use, lease, or advertisement of
Licensed Younger Products or (2) any obligation of Younger under this Agreement
or (3) out of any breach of any representation, warranty, or covenant expressly
made by Younger in this Agreement.

8.2                                 VEL
Indemnification.  VEL shall at all
times during the term of this Agreement and thereafter, indemnify, defend and
hold Younger, its members, officers, employees and Affiliates, harmless against
all claims, proceedings, demands and liabilities of any kind whatsoever,
including legal expenses and reasonable attorneys’ fees, arising out of (1) the
death of or injury to any person or out of any damage to property resulting
from the production, manufacture, sale, use, lease, or advertisement of
Licensed VEL Products or (2) any obligation of VEL under this Agreement or (3)
out of any breach of any representation, warranty, or covenant expressly made
by VEL in this Agreement.

9.                                      Term
and Termination.

9.1                                 Term.  The term of this Agreement and the licenses
granted hereunder will commence on the Effective Date and continue until the
expiration of the last to expire of the VEL Patents and Younger Patents, or the
earlier termination of this Agreement pursuant to Sections 9.2 or 9.3.

9.2                                 Termination
by Younger.  Younger may terminate
this Agreement upon written notice to VEL in the event of a material breach by
VEL of this Agreement after the expiration of the time to cure as set forth in
10.9 herein below.

 7
 

 

PLEASE NOTE THAT CERTAIN MATERIAL HAS BEEN
OMITTED FROM THIS AGREEMENT AND NOTED AS “*REDACTED*” PURSUANT TO A REQUEST FOR
CONFIDENTIAL TREATMENT AND THAT MATERIAL HAS BEEN FILED SEPARATELY WITH THE
SECURITIES AND EXCHANGE COMMISSION.

9.3                                 Termination
by the VEL.  VEL may terminate this
Agreement and the license granted hereunder upon written notice to Younger in
the event of a material breach by Younger of this Agreement after the
expiration of the time to cure as set forth in 10.9 herein below.

9.4                                 Rights
and Obligations on Termination.  In
the event of the termination of this Agreement by either party, (a) the
obligations of all parties under the terms of Section 6 will survive
termination; (b) Younger shall not thereafter sell Licensed Younger Products or
otherwise engage in activities that were permitted pursuant to the license
granted in this Agreement; and (c) VEL shall not thereafter sell Licensed I VEL
Products or otherwise engage in activities that were permitted pursuant to the
License granted in this Agreement.

10.                               Miscellaneous.

10.1                           No
Implied Waivers.  No failure or delay
on the part of VEL or Younger in exercising any right, power, remedy or
privilege under this Agreement or provided by statute or at law or in equity or
otherwise, including, without limitation, the right or power to terminate this
Agreement, will impair, prejudice or constitute a waiver of any such right,
power, remedy or privilege or be construed as a waiver of any breach of this
Agreement or as an acquiescence therein, nor will any single or partial
exercise of any such right, power remedy or privilege preclude any other or
further exercise thereof or the exercise of any other right, power, remedy or
privilege.

10.2                           Relationship
of the Parties.  Nothing contained in
this Agreement is intended or is to be construed to constitute Younger and VEL
as partners or joint venturers.  Except
as expressly provided herein, no party hereto will have any express or implied
right or authority to assume or create any obligations on behalf of or in the
name of any other party or to bind any other party to any contract agreement or
undertaking with any third party.

10.3                           Successors
and Assigns.  Neither party to this
Agreement may assign this Agreement, in whole or in part, without the express
written prior consent of the other party hereto, except in connection with the
sale of all or substantially all of the assets or business of either party
hereto, in which event consent will not be unreasonably withheld.  However, VEL and Younger may assign or
otherwise transfer its rights and obligations under this Agreement to any
Affiliate of which VEL, BMC or Younger owns at least eighty percent (80%) of
the voting shares of such entity, provided that such assignee agrees in writing
to be bound by the terms and conditions of this Agreement as though such
assignee were a signatory to this Agreement. 
Any prohibited assignment will be null and void.  All terms and conditions of this Agreement
will be binding on and inure to the benefit of the successors and permitted
assigns of the parties.

10.4                           Amendments.  No amendment, modification, waiver,
termination or discharge of any provision of this Agreement, nor consent by VEL
or Younger to any

 8
 

 

PLEASE NOTE THAT CERTAIN MATERIAL HAS BEEN
OMITTED FROM THIS AGREEMENT AND NOTED AS “*REDACTED*” PURSUANT TO A REQUEST FOR
CONFIDENTIAL TREATMENT AND THAT MATERIAL HAS BEEN FILED SEPARATELY WITH THE
SECURITIES AND EXCHANGE COMMISSION.

departure
therefrom, will in any event be effective unless the same is in writing
specifically identifying this Agreement and the provision intended to be
amended, modified, waived, terminated or discharged and signed by VEL and
Younger, and each amendment, modification, waiver, termination or discharge
will be effective only in the specific instance and for the specific purpose
for which given.  No provision of this
Agreement may be varied, contradicted or explained by any other agreement,
course of dealing or performance or any other matter not set forth in an agreement
in writing and signed by VEL and Younger.

10.5                           Governing
Law.  This Agreement will be governed
by and construed in accordance with the laws of the State of Minnesota, USA, as
applied to contracts made and performed entirely within the State of Minnesota,
without reference to the principles of conflicts of laws, except that the laws
of the United States will apply to questions regarding the validity,
infringement or enforceability of U.S. patents rights relating to the subject
matter of this Agreement.

10.6                           Dispute
Resolution.  VEL and Younger hereby
agree to the following dispute resolution procedure:

(a)              VEL and Younger
agree to mediate any dispute or claim arising between them out of this
Agreement, or any transactions arising hereunder, before resorting to court
action or arbitration.  Within ten (10)
business days of a demand for mediation by either party, the other party shall
submit a list of three (3) potential mediators along with potential times, dates,
and locations for any such mediation.  If
the parties cannot agree to the selection of a mediator, they shall each choose
one mediator and the two mediators chosen shall select the third mediator to be
utilized.  It is the intention of the
parties that any mediation demanded hereunder shall be held and completed
within sixty (60) days of any demand unless a written agreement to extend is
entered into between the Parties.  If the
dispute is not resolved through mediation within the allotted time, either party
may commence litigation or pursue other dispute resolution.

(b)             If, for any dispute
or claim to which this provision applies, any party commences an action,
whether in arbitration or a court action, without first attempting to resolve
the matter through mediation, or a party refuses to mediate after demand has
been made, then that party shall not be entitled to recover attorneys fees,
even if they would otherwise be available to that party in any such action.

10.7                           Severability.  If any provision hereof should be held
invalid, illegal or enforceable in any respect in any jurisdiction, then, to
the fullest extent permitted by law, (a) all other provisions hereof will
remain in full force and effect in such jurisdiction and will be liberally
construed in order to carry out the intentions of the parties hereto as nearly
as may be possible and (b) such invalidity, illegality or unenforceability will
not affect the validity, legality or enforceability of such provision in any
other jurisdiction.  To the extent
permitted by applicable law, VEL and

 9
 

 

PLEASE NOTE THAT CERTAIN MATERIAL HAS BEEN
OMITTED FROM THIS AGREEMENT AND NOTED AS “*REDACTED*” PURSUANT TO A REQUEST FOR
CONFIDENTIAL TREATMENT AND THAT MATERIAL HAS BEEN FILED SEPARATELY WITH THE
SECURITIES AND EXCHANGE COMMISSION.

Younger hereby
waive any provision of law that would render any provision hereof prohibited or
unenforceable in any respect.

10.8                           Entire
Agreement.  This Agreement, together
with any agreements or other documents executed contemporaneously herewith, or
expressly referenced herein or therein, constitutes, on and as of the Effective
Date, the entire agreement of VEL and Younger with respect to the subject
matter hereof, and all prior understandings or agreements, whether written or
oral, between VEL and Younger with respect to such subject matter are hereby
superseded in their entirety.  If there
should be any conflict between the terms of this Agreement and the. terms of
the Settlement Agreement entered into contemporaneously herewith, the terms of
the Settlement Agreement shall prevail.

10.9                           Notices.  All notices, requests and other
communications to VEL or Younger hereunder will be in writing, will refer
specifically to this Agreement and will be personally delivered or sent by
internationally recognized courier (such as Federal Express), cost pre-paid, or
by registered or certified mail with return receipt requested, postage prepaid,
in each case to the respective address specified below (or to such address as
may be specified in writing to the other party hereto).  Any notice or communication given in
conformity with this Section 10.9 will be deemed to be effective upon signed
receipt.  Notices shall be sent to:

	
  If to Younger:

  	
   

  	
  David Rips, President

  
	
   

  	
   

  	
  Younger Mfg. Co.

  
	
   

  	
   

  	
  2925 California Street

  
	
   

  	
   

  	
  Torrance, California 90503

  
	
   

  	
   

  	
  Fax: (310) 783-4724

  
	
   

  	
   

  	
   

  
	
  With a copy to:

  	
   

  	
  David H. Dicker, Esq.

  
	
   

  	
   

  	
  DICKER & DICKER, LLP

  
	
   

  	
   

  	
  16530 Ventura Boulevard, Suite 609

  
	
   

  	
   

  	
  Encino, California 91436

  
	
   

  	
   

  	
  Fax: (818) 971-3747

  
	
   

  	
   

  	
   

  
	
  If to VEL:

  	
   

  	
  Vision Ease Lens, Inc.

  
	
   

  	
   

  	
  One Meridian Crossings

  
	
   

  	
   

  	
  Suite 850

  
	
   

  	
   

  	
  Minneapolis, Minnesota 55423

  
	
   

  	
   

  	
  Attn: Chief Executive Officer

  
	
   

  	
   

  	
  Fax: (952) 851-6050

  
	
   

  	
   

  	
   

  
	
  With a copy to:

  	
   

  	
  Oppenheimer Wolff & Donnelly LLP

  
	
   

  	
   

  	
  840 Newport Center Drive

  
	
   

  	
   

  	
  Suite 700

  
	
   

  	
   

  	
  Newport Beach, California 92660

  
	
   

  	
   

  	
  Attn: James W. Inskeep

  
	
   

  	
   

  	
  Fax: (949) 823-6031

  

 

 10
 

 

PLEASE
NOTE THAT CERTAIN MATERIAL HAS BEEN OMITTED FROM THIS AGREEMENT AND NOTED AS
“*REDACTED*” PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT AND THAT MATERIAL
HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.

Prior
to bringing any action to enforce an alleged violation of this Agreement or
demand for mediation hereunder, a Party shall give the alleged violator written
notice of the nature of the alleged violation. 
The alleged violator shall have twenty (20) business days following
receipt of this notice to remedy the violation prior to the filing of an action
or demand for mediation by the other party.

 11
 

 

PLEASE
NOTE THAT CERTAIN MATERIAL HAS BEEN OMITTED FROM THIS AGREEMENT AND NOTED AS
“*REDACTED*” PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT AND THAT MATERIAL
HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.

IN
WITNESS WHEREOF each of the parties hereto has caused its duly authorized
officer or person to sign this License Agreement as of the date first above
written.

	
  VISION-EASE LENS, INC.

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ Kurt
  Peterson

  	
   

  	
  Date:

  	
  March 17, 2003

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Its:

  	
  Sr. Vice
  President & CFO

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  YOUNGER
  MFG. CO.

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ Joseph David
  Rips

  	
   

  	
  Date:

  	
  March 14, 2003

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Its:

  	
  President &
  CEO

  	
   

  	
   

  

 

 12Exhibit 10.19

SECOND AMENDMENT LOAN AND SECURITY AGREEMENT

This SECOND AMENDMENT TO
LOAN AND SECURITY AGREEMENT (this “Amendment”) is made and entered into
effective for all purposes as of December 1, 2005 (the “Effective Date”)
among INSIGHT EQUITY A.P. X, LP, a Texas limited partnership (“Borrower”),
INSIGHT EQUITY A.P. X ASIA, LLC, a Delaware limited liability company (“Asia
LLC”), PT. VISION-EASE ASIA, an investment company organized under the laws
of the Republic of Indonesia (“Vision-Ease Asia”), INSIGHT EQUITY A.P. X
CANADA, LLC, a Delaware limited liability company (“Canada LLC”),
INSIGHT EQUITY A.P. X CANADA PARTNERS, LP, a Texas limited partnership (“Canada
LP”), VISION-EASE CANADA CO., an unlimited company organized under the laws
of the Province of Nova Scotia, Canada and successor in interest by
amalgamation to Vision-Ease Canada, Ltd. (“Vision-Ease Canada”), VISION
EASE LENS EUROPE LIMITED, a company limited by shares registered in England and
Wales (“Vision-Ease Europe”), VISION-EASE LENS LIMITED, a company
limited by shares registered in England and Wales (“Vision-Ease Lens”),
INSIGHT EQUITY A.P. X COMPANY, LLC, a Texas limited liability company and the
general partner of Borrower (“General Partner”), the financial
institutions which are now or which hereafter become a party hereto
(collectively, “Lenders” and individually a “Lender”) and ORIX
Finance Corp. (“ORIX”), as agent for Lenders (ORIX and its successors
and assigns in such capacity, “Agent”).

R
E C I T A L S:

A.            Pursuant to that certain Loan and Security
Agreement dated as of December 1, 2005, by and among Borrower, Asia LLC,
Vision-Ease Asia, Canada LLC, Canada LP, Vision-Ease Canada, Vision-Ease
Europe, Vision-Ease Lens, General Partner, Lenders and Agent (as amended by
that certain Waiver and First Amendment to Loan Agreement effective as of
December 1, 2005, the “Agreement”), Lenders extended certain credit
facilities to Borrower.

B.            Borrower and the Loan Parties have requested
that the Agreement be amended in certain respects, and Agent and Lenders are
willing to comply with such request subject to the terms and provisions of this
Amendment.

NOW, THEREFORE, in
consideration of the mutual covenants and agreements contained herein and for
other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties hereto hereby agree as follows:

ARTICLE 1

DEFINITIONS

Section 1.1  Terms Defined.  Unless otherwise defined in this Amendment,
each capitalized term used in this Amendment has the meaning given to such term
in the Agreement (as amended by this Amendment).

ARTICLE 2

AMENDMENT

Section 2.1  Amendment to Agreement.  Clause (a) of Section 6.6
of the Agreement is hereby amended such that the amount “$-0-“
presently appearing in such clause is deleted and replaced by the following
phrase:  

 1
 

 

“an amount equal to the actual Tangible Net Worth of Borrower and its
consolidated Subsidiaries as of December 31, 2005, as derived from the
audited financial statements”.

ARTICLE 3

MISCELLANEOUS

Section 3.1  Representations and Warranties.  Borrower and each Loan Party hereby jointly
and severally represent and warrant to Agent and Lenders that, as of the date
of and after giving effect to this Amendment, (a) the execution, delivery and
performance of this Amendment and any and all other documents executed and/or
delivered in connection herewith have been authorized by all requisite action
on the part of Borrower or any Loan Party and will not violate Borrower’s or any
Loan Party’s organizational documents, (b) the term “Other Documents” as defined in the Agreement and as used in
the Agreement or any of the Other Documents includes, without limitation, any
and all other documents executed and/or delivered in connection with this
Amendment, (c) all representations and warranties set forth in the Agreement
and in the Other Documents are true and correct in all material respects as if made again on and as of such date
(except to the extent that such representations and warranties were expressly
made only in reference to a specific date), (d) no Default or Event of Default
has occurred and is continuing, and (e) the Agreement and the Other Documents
(as amended by this Amendment) are and remain legal, valid, binding and
enforceable obligations of Borrower and/or the Loan Parties, as applicable.

Section 3.2  Governing Law.  THIS AMENDMENT SHALL BE GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF TEXAS APPLIED TO
CONTRACTS TO BE PERFORMED WHOLLY WITHIN THE STATE OF TEXAS.

Section 3.3  Counterparts.  This Amendment may be executed in any number
of counterparts, all of which when taken together shall constitute one
agreement, and any of the parties hereto may execute this Amendment by signing
any such counterpart.  Any signature
delivered by a party by facsimile transmission shall be deemed to be an
original signature hereto.

Section 3.4  No Oral Agreements.  THIS AMENDMENT, TOGETHER WITH THE AGREEMENT
AND THE OTHER DOCUMENTS AS WRITTEN, REPRESENT THE FINAL AGREEMENTS BETWEEN AND
AMONG THE PARTIES HERETO AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR,
CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES.  THERE ARE NO UNWRITTEN ORAL AGREEMENTS
BETWEEN OR AMONG (A) BORROWER, (B) ANY LOAN PARTY, (C) AGENT AND/OR (D) ANY
LENDER.

Section 3.5  Agreement Remains in Effect; No Waiver.  Except as expressly provided herein, all
terms and provisions of the Agreement and the Other Documents shall remain
unchanged and in full force and effect and are hereby ratified and
confirmed.  No waiver by Agent or any
Lender of any Default or Event of Default shall be deemed to be a waiver of any
other Default or Event of Default.  No
delay or omission by Agent or any Lender in exercising any power, right or
remedy shall impair such power, right or remedy or be construed as a waiver
thereof or an acquiescence therein, and no single or partial exercise of any
such power, right or remedy shall preclude other or further exercise thereof or
the exercise of any other power, right or remedy under the Agreement, the Other
Documents or otherwise.

 2
 

 

Section 3.6  Survival of Representations and Warranties.  All representations and warranties made in
this Amendment or any Other Document shall survive the execution and delivery
of this Amendment and the Other Documents, and no investigation by Agent or any
Lender or any closing shall affect the representations and warranties or the
right of Agent or any Lender to rely upon them.

Section 3.7  Reference to Agreement.  Each of the Agreement and the Other Documents
and any and all other agreements, documents or instruments now or hereafter
executed and/or delivered pursuant to the terms hereof or pursuant to the terms
of the Agreement as amended hereby, are hereby amended so that any reference in
such Agreement or Other Documents to the Agreement shall mean a reference to
the Agreement as amended hereby.

Section 3.8  Severability.  Any provision of this Amendment held by a
court of competent jurisdiction to be invalid or unenforceable shall not impair
or invalidate the remainder of this Amendment and the effect thereof shall be
confined to the provision so held to be invalid or unenforceable.

Section 3.9  Successors and Assigns.  This Amendment is binding upon and shall
inure to the benefit of Agent, Lenders, Borrower, the other Loan Parties and their
respective successors and assigns, except that neither Borrower nor any other
Loan Party may assign or transfer any of its rights or obligations hereunder
without the prior written consent of Agent and Lenders.

Section 3.10  Headings.  The headings, captions and arrangements used
in this Amendment are for convenience only and shall not affect the
interpretation of this Amendment.

Section 3.11  Consent.  Each Loan Party, as a Guarantor of the
Obligations, hereby consents to Borrower, Agent and Lenders entering into this
Amendment and agrees that (a) the Other Documents to which such Loan Party is a
party shall remain in full force and effect and shall continue to be the legal,
valid and binding obligations of such Loan Party enforceable against it in accordance
with their respective terms and are hereby ratified and confirmed in all
respects, and (b) the indebtedness, liabilities and obligations secured,
guaranteed and/or evidenced by the Other Documents to which such Loan Party is
a party include, without limitation, all “Obligations” as such term is defined
in the Agreement as amended by this Amendment and as such “Obligations” may be
increased or modified directly or indirectly as a result of or in connection
with this Amendment.

[Signature Page Follows]

 3
 

 

IN WITNESS WHEREOF,
Borrower, the Loan Parties, Agent and Lenders have caused this Amendment to be
executed and delivered by their duly authorized officers effective as of the
date first above written.

	
  

  	
  BORROWER:

  
	
   

  	
   

  	
   

  
	
   

  	
  INSIGHT EQUITY A.P. X, LP

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Insight Equity A.P. X Company, LLC

  
	
   

  	
  Title:

  	
  General Partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  	
  /s/ Ted W. Beneski

  
	
   

  	
   

  	
  Name:

  	
  Ted W. Beneski

  
	
   

  	
   

  	
  Title:

  	
  Chairman of the Board

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  ADDITIONAL LOAN PARTIES:

  
	
   

  	
   

  	
   

  
	
   

  	
  INSIGHT EQUITY A.P. X ASIA, LLC

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
  /s/ Ted W. Beneski

  	
   

  
	
   

  	
  Name:

  	
   

  	
  Ted W. Beneski

  
	
   

  	
  Title:

  	
   

  	
  Chairman of the Board

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  PT. VISION-EASE ASIA

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
  /s/ Ted W. Beneski

  	
   

  
	
   

  	
  Name:

  	
   

  	
  Ted W. Beneski

  
	
   

  	
  Title:

  	
   

  	
  President Commissioner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  INSIGHT EQUITY A.P. X CANADA, LLC

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
  /s/ Ted W. Beneski

  	
   

  
	
   

  	
  Name:

  	
   

  	
  Ted W. Beneski

  
	
   

  	
  Title:

  	
   

  	
  Chairman of the Board

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
							

 

 

 4
 

 

 

	
   

  	
  INSIGHT EQUITY A.P. X CANADA PARTNERS, LP

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Insight Equity A.P. X Canada, LLC

  
	
   

  	
  Title:

  	
  General Partner

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
  /s/ Ted W. Beneski

  	
   

  
	
   

  	
  Name:

  	
   

  	
  Ted W. Beneski

  
	
   

  	
  Title:

  	
   

  	
  Chairman of the Board

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  VISION-EASE CANADA CO.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
  /s/ Ted W. Beneski

  	
   

  
	
   

  	
  Name:

  	
   

  	
  Ted W. Beneski

  
	
   

  	
  Title:

  	
   

  	
  Chairman of the Board

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  VISION EASE LENS EUROPE LIMITED

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
  /s/ Rich Faber

  	
   

  
	
   

  	
  Name:

  	
   

  	
  Rich Faber

  
	
   

  	
  Title:

  	
   

  	
  Director

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  VISION-EASE LENS LIMITED

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
  /s/ Rich Faber

  	
   

  
	
   

  	
  Name:

  	
   

  	
  Rich Faber

  
	
   

  	
  Title:

  	
   

  	
  Director

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  INSIGHT EQUITY A.P. X COMPANY, LLC

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
  /s/ Ted W. Beneski

  	
   

  
	
   

  	
  Name:

  	
   

  	
  Ted W. Beneski

  
	
   

  	
  Title:

  	
   

  	
  Chairman of the Board

  
						

 

 5
 

 

 

	
  

  	
  AGENT AND A LENDER:

  
	
   

  	
   

  	
   

  
	
   

  	
  ORIX FINANCE CORP.,

  
	
   

  	
  as Agent and a Lender

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
  /s/ Christopher L. Smith

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  
					

 

 6
 

 

 

	
  

  	
  BLAZERMAN AND CO., AS THE NOMINEE

  
	
   

  	
  OF BILL & MELINDA GATES FOUNDATION

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  
					

 7
 

 

 

	
  

  	
  CASCADE INVESTMENT LLC

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  
					

 

 8
 

 

 

	
  

  	
  COASTLEDGE AND CO., AS THE NOMINEE OF

  ARROW INVESTMENT PARTNERS

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  
					

 

 9
 

 

 

	
  

  	
  NEWSTAR COMMERCIAL LOAN TRUST 2006-1

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
  /s/ Walter J. Marullo

  	
   

  
	
   

  	
  Name:

  	
  Walter J. Marullo

  
	
   

  	
  Title:

  	
  Managing Director

  
						

 

 10

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00111-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00111-of-00352.parquet"}]]