Document:

Exhibit 10.1

AMENDMENT
NO. 2 

THIS AMENDMENT NO.
2, dated as of December 20, 2011 (this “Amendment”), of that certain Credit Agreement referenced below is by
and among AMERICAN TELECONFERENCING SERVICES, LTD., a Missouri corporation, (the “Borrower”), PREMIERE GLOBAL
SERVICES, INC., a Georgia corporation (the “Parent”), and the other Guarantors identified on the signature
pages hereto, the Lenders identified on the signature pages hereto, and Bank of America,
N.A., as Administrative Agent, for the Lenders. Capitalized terms used but not otherwise defined herein shall have the
meanings provided in the Credit Agreement. 

W I T N E S S E T H

WHEREAS, a
$325 million credit facility consisting of a $275 million revolving credit facility and a $50 million term loan has been
established in favor of the Borrower pursuant to the terms of that Credit Agreement dated as May 10, 2010 (as amended and modified,
the “Credit Agreement”) among the Borrower, as borrower, the Parent and certain subsidiaries and affiliates,
as guarantors, the lenders identified therein and Bank of America, as Administrative Agent and Collateral Agent; 

WHEREAS, the Borrower
has requested certain modifications to the Credit Agreement, including extension of the termination date for and repricing of
Revolving Loans, and the establishment of a new $50 million term loan; and 

WHEREAS, the Lenders
have agreed to the requested modifications on the terms and conditions set forth herein. 

NOW, THEREFORE, IN
CONSIDERATION of the premises and other valuable consideration the receipt and sufficiency of which is hereby acknowledged, the
parties hereby agree as follows: 

1.Modifications in respect of Senior Credit
Facilities.

1.1Reduction in Commitments under the
Revolving Credit Facility. The Aggregate Revolving Commitment Amount as referenced and defined in Section 2.01(a) is reduced
from $275 million to $250 million, as provided herein. Schedule 2.01 to the Credit Agreement is amended as provided herein
and attached hereto to give effect to the reduction in such commitments.

1.2Establishment of New Term Loan A.
A $50 million Term Loan A (the “Original Term Loan A”) was established on May 10, 2010, being the Closing Date
and the date of the Credit Agreement. The Original Term Loan A has been paid off. A new $50 million Term Loan A (the “New
Term Loan A”) is established pursuant to this Amendment as provided herein. Each of the Lenders with commitments for
the New Term Loan A agrees to provide, severally and not jointly, their pro rata share of the New Term Loan A as provided herein.
Schedule 2.01 to the Credit Agreement is amended as provided herein and attached hereto to give effect to the establishment
of such term loan.

1.3Assignment of Interests. Immediately
after the reductions in Revolving Commitments but immediately prior to the effectiveness of this Amendment, the loans and commitments
of JPMorgan Chase Bank, N.A., HSBC Bank USA, National Association and United Overseas Bank Ltd, New York Agency under the Credit
Agreement will be assigned in whole as provided in the Master Assignment dated as of the date hereof.

    	 

    	 

    
2.Amendments to the Credit Agreement.
The Credit Agreement is amended in the following respects:

2.1Definitions. In Section 1.01 (Definitions)
the following terms are amended and/or added to read as follows:

“Amendment No. 2”
means that certain Amendment No. 2 to this Credit Agreement dated as of the Amendment No. 2 Effective Date.

“Amendment No. 2 Effective
Date” means the date that the conditions to effectiveness for Amendment No. 2 shall have been satisfied, being December
20, 2011.

“Applicable Currency”
means, with respect to any Loan, the currency in which such Loan is denominated.

“Applicable Percentage”
means the following percentages per annum, based on the Consolidated Leverage Ratio determined as of the last day of the immediately
preceding fiscal quarter:

 

	 	 	
        Revolving Loans and Letters of Credit

         
	 
	Pricing Level	Consolidated Leverage Ratio	Eurocurrency Rate Loans and Letters of Credit	Base Rate Loans	Commitment Fee
	1	
        Less than 1.25 to 1.0
	1.75%	0.75%	0.25%
	2	
        Less than 1.75 to 1.0 but greater than or equal to 1.25
to 1.0
	2.00%	1.00%	0.30%
	3	
        Less than 2.25 to 1.0 but greater than or equal to 1.75
to 1.0
	2.25%	1.25%	0.35%
	4	
        Less than 2.75 to 1.0 but greater than or equal to 2.25
to 1.0
	2.50%	1.50%	0.40%
	5	Greater than or equal to 2.75 to 1.0	2.75%	1.75%	0.45%

 

	 	 	
        Term Loan A

         
	 
	Pricing Level	Consolidated Leverage Ratio	Eurocurrency Rate Loans	Base Rate Loans	 
	1	
        Less than 1.25 to 1.0
	1.75%	0.75%	 
	2	
        Less than 1.75 to 1.0 but greater than or equal to 1.25
to 1.0
	2.00%	1.00%	 
	3	
        Less than 2.25 to 1.0 but greater than or equal to 1.75
to 1.0
	2.25%	1.25%	 
	4	
        Less than 2.75 to 1.0 but greater than or equal to 2.25
to 1.0
	2.50%	1.50%	 
	5	Greater than or equal to 2.75 to 1.0	2.75%	1.75%	 

 

Any increase or decrease in the Applicable
Percentage resulting from a change in the Consolidated Leverage Ratio shall become effective not later than the date five (5) Business
Days immediately following the date a Compliance Certificate is required to be delivered pursuant to Section 7.02(a); provided,
however, that if a Compliance Certificate is not delivered when due in accordance therewith, then Pricing Level 5 shall apply as
of the first Business Day after the date on which such Compliance Certificate was required to have been delivered until the date
not later than five (5) Business Days immediately following delivery thereof. The Applicable Percentage in effect from the Amendment
No. 2 Effective Date through the date for delivery of the

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Compliance Certificate for the fiscal quarter ending December 31, 2011
shall be determined based upon Pricing Level 4. Determinations by the Administrative Agent of the appropriate Pricing Level shall
be conclusive absent manifest error.

“Joint Lead Arrangers”
means BAS and RBSC.

“Original Term Loan A”
has the meaning provided in Section 2.01(d).

“New Term Loan A”
has the meaning provided in Section 2.01(d).

“Revaluation Date”
means (a) with respect to any Loan, each of the following: (i) each date of a Borrowing of a Eurocurrency Rate Loan denominated
in an Alternative Currency, (ii) each date of a continuation of a Eurocurrency Rate Loan denominated in an Alternative Currency
pursuant to Section 2.02, and (iii) such additional dates (but not less frequently than once a month) as the Administrative
Agent shall determine or the Required Lenders shall require; and (b) with respect to any Letter of Credit, each of the following:
(i) each date of issuance of a Letter of Credit denominated in an Alternative Currency, (ii) each date of an amendment of any such
Letter of Credit having the effect of increasing the amount thereof (solely with respect to the increased amount) or extending
the expiry date thereof, (iii) each date of any payment by the L/C Issuer under any Letter of Credit denominated in an Alternative
Currency, (iv) in the case of the Existing Letters of Credit, the Closing Date, and (v) such additional dates (but not less frequently
than once a month) as the Administrative Agent or the L/C Issuer shall determine or the Required Lenders shall require.

“Revolving Termination Date”
means December 20, 2016.

“Term Loan A Maturity Date”
means December 20, 2016.

2.2In Section 2.01(a), “Aggregate Revolving
Committed Amount” as referenced and defined therein is amended to read “TWO HUNDRED FIFTY MILLION DOLLARS ($250,000,000)
(as such amount may be increased or decreased in accordance with the provisions hereof, the “Aggregate Revolving Committed
Amount”)”.

2.3Section 2.01(d) is amended to read as
follows:

(c)Term Loan A. A $50 million term loan
(the “Original Term Loan A”) was established on the Closing Date, which was paid off in full prior to the Amendment
No. 2 Effective Date. On the Amendment No. 2 Effective Date, each Term Loan A Lender agrees to make its portion of a new non-amortizing
term loan (the “New Term Loan A” or the “Term Loan A”) in a single advance to the Borrower
in Dollars in the amount of its respective Term Loan A Committed Amount; provided that after giving effect to such advances, the
Outstanding Amount of the Term Loan A shall not exceed FIFTY MILLION DOLLARS ($50,000,000). The Term Loan A may consist of Base
Rate Loans, Eurocurrency Rate Loans, or a combination thereof, as the Borrower may request. Amounts repaid on the Term Loan A may
not be reborrowed.

2.4Section 2.05(c) is amended to read as follows:

(c)Term Loan A. The Term
Loan A is a non-amortizing term loan. The Outstanding Amount of the Term Loan A is due and payable in full on the Term Loan A Maturity
Date.

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2.5Section 8.02(i) is amended to read as
follows:

(i)other investments not contemplated
in the foregoing clauses of this Section in an aggregate principal amount not to exceed $25 million at any time;

2.6Section 8.06(d) is amended to read as
follows:

(d)so long as no Default or Event
of Default shall exist immediately before or immediately after giving effect thereto on a Pro Forma Basis,

(i)the Parent may declare or pay
cash dividends to its stockholders and purchase, redeem or otherwise acquire shares of its Capital Stock or warrants, rights or
options to acquire any such shares solely for cash in any calendar year in an aggregate amount not to exceed $50 million;

(ii)the Parent may purchase Capital
Stock from officers and employees of the Parent to the extent the aggregate amount of all such purchases does not exceed $2 million
during the term of this Credit Agreement;

(iii)in addition to the purchases
permitted under clause (ii) above, the Parent may purchase Capital Stock of the Parent held by Designated Officers, provided that
the aggregate amount paid in connection therewith is less than $15 million per fiscal year and the proceeds of such repurchases
are immediately paid to the Parent to repay loans and advances made by the Parent to any of the Designated Officers prior to the
Closing Date; and

2.7Section 8.12(c) is amended to read as
follows:

(c)Consolidated EBITDA. Permits,
as of the end of any fiscal quarter of the Parent, the portion of Consolidated EBITDA attributable to activities and operations
in the United States as compared to Consolidated EBITDA as a whole to be less than 0.40:1.0.

2.8Schedule 2.01 (Lenders and Commitments)
is updated and amended to read as attached hereto.

2.9Schedule 11.02 (Notice Addresses) is updated for
the Borrower and Guarantors as follows:

BORROWER AND GUARANTORS:

David E. Trine, Chief Financial Officer

Premiere Global Services, Inc.

3280 Peachtree Road

The Terminus Building, Suite 1000

Atlanta, Georgia 30305

Phone: (404) 262-8550

Fax: (866) 219-0559

E-mail: david.trine@pgi.com

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Doug Noe, Controller and Treasurer

Premiere Global Services, Inc.

3280 Peachtree Road

The Terminus Building, Suite 1000

Atlanta, Georgia 30305

Phone: (404) 262-8403

Fax: (866) 953-1405

E-mail: Doug.Noe@pgi.com

With a copy to:

Scott Askins Leonard, SVP – Legal and General
Counsel

Premiere Global Services, Inc.

3280 Peachtree Road

The Terminus Building, Suite 1000

Atlanta, Georgia 30305

Phone: (404) 262-8502

Fax: (866) 296-6245

E-mail: Scott.AskinsLeonard@pgi.com

3.Conditions Precedent. This Amendment
shall be effective upon satisfaction of the following conditions, in each case in form and substance satisfactory to the Administrative
Agent:

3.1Receipt by the Administrative
Agent of a copy of the fully executed Master Assignment whereby all of the loans and commitments of JPMorgan Chase Bank, N.A.,
HSBC Bank USA, National Association and United Overseas Bank Ltd., New York Agency and a portion of the loans and commitments of
Comerica Bank under the Credit Agreement have been assigned to other Lenders.

3.2Receipt by the Administrative
Agent of executed signature pages to this Amendment from (i) the Borrower and the Guarantors, (ii) the Administrative Agent, and
(iii) the Lenders.

3.3Receipt by the Administrative
Agent of executed promissory notes and amendments to Collateral Documents, as appropriate, to evidence or otherwise give effect
to this Amendment.

3.4Receipt by the Administrative
Agent of legal opinions of counsel for the Borrower and the Guarantors, including local counsel, where appropriate, regarding,
among other things, existence, due authorization, execution, delivery and enforceability of this Amendment and the other loan documentation,
no conflicts with organizational documents, material debt documents or applicable law, and perfection of security interests, in
each case in a manner reasonably satisfactory to the Administrative Agent.

3.5Receipt by the Administrative
Agent of copies of supporting resolutions, Organization Documents, certificates of good standing, incumbency certificates and other
corporate documentation from the Borrower and the Guarantors.

3.6Confirmation of payment of all
fees and expenses owing in connection with this Amendment, including fees and expenses of counsel for the Administrative Agent.

This Amendment shall not be effective until the Administrative Agent
shall have given confirmation of satisfaction of all of the foregoing conditions.

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4.Representations and Warranties.
Each of the Credit Parties hereby represents and warrants that:

4.1it has full power and authority,
and has taken all action necessary, to execute and deliver this Amendment and to consummate the transactions contemplated hereby;

4.2it has executed and delivered
this Amendment and the Amendment is a legal, valid and binding obligation enforceable against it in accordance with its terms,
except to the extent that the enforceability may be limited by applicable Debtor Relief Laws affecting creditors’ rights
generally and by equitable principles of law (regardless whether enforcement is sought in equity or at law); and

4.3as of the date hereof, (i) the
representations and warranties set forth in Article VI of the Credit Agreement are true and correct as of the date hereof, except
to the extent that they specifically refer to an earlier date, in which case they are true and correct as of such earlier date,
and (ii) no Default or Event of Default shall exist immediately before or immediately after giving effect to this Amendment and
the transactions contemplated herein.

5.Acknowledgment of Guaranty Obligations
and Liens.

5.1Each of the Guarantors acknowledges
and consents to all of the terms and conditions of this Amendment, affirms its guaranty obligations under and in respect of the
Credit Documents and the New Term Loan A established hereby and agrees that this Amendment and all documents executed in connection
herewith do not operate to reduce or discharge any Guarantor’s obligations under the Credit Documents, except as expressly
set forth therein.

5.2Each of the Credit Parties hereby
affirms the Liens and security interests created and granted in the Credit Documents and agrees that this Amendment is not intended
to adversely affect or impair such Liens and security interests in any manner.

6.Full Force and Effect; Affirmation.
Except as modified hereby, all of the terms and provisions of the Credit Agreement and the other Credit Documents (including schedules
and exhibits thereto) shall remain in full force and effect. Each of the Credit Parties hereby
(a) affirms all of its obligations under the Credit Documents to which it is party and (b) agrees that this Amendment and all documents
executed in connection herewith do not operate to reduce or discharge their obligations under any Credit Document, except as expressly
stated therein.

7.Expenses. The Borrower agrees to
pay all reasonable costs and expenses of the Administrative Agent in connection with the preparation, execution and delivery of
this Amendment, including the reasonable fees and expenses of Moore & Van Allen PLLC.

8.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 shall
not be necessary in making proof of this Amendment to produce or account for more than one such counterpart. Delivery by any party
hereto of an executed counterpart of this Amendment by facsimile shall be effective as such party’s original executed counterpart.

9.Credit Document. Each of the parties
hereto hereby agrees that this Amendment is a Credit Document.

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10.Governing Law. This Amendment shall
be governed by, and construed in accordance with, the laws of the State of New York applicable to agreements made and to be performed
entirely within such state.

[Remainder
of Page Intentionally Left Blank]

    	7

    	 

    
IN WITNESS WHEREOF, 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.

 

	BORROWER:	
        AMERICAN TELECONFERENCING SERVICES, LTD.,

        a Missouri corporation

         

By: /s/ Douglas Noe 

        Name: Douglas Noe

        Title: Treasurer

         

	GUARANTORS:	
        AMERICAN TELECONFERENCING SERVICES, LTD.,

        a Missouri corporation

        PREMIERE GLOBAL SERVICES, INC.,

        a Georgia corporation

        NETSPOKE, INC.,

        a Delaware corporation

        IMEET, INC.,

        a Delaware corporation

         

By: /s/ Douglas Noe 

        Name: Douglas Noe

        Title: Treasurer

         

 

    	 

    	 

    
 

	ADMINISTRATIVE AGENT:	
        BANK OF AMERICA, N.A.,

        as Administrative Agent and Collateral Agent

         

By: /s/ Roberto Salazar 

        Name: Roberto Salazar

        Title: Vice President

         

 

    	 

    	 

    
 

 

	Lenders:	
        BANK OF AMERICA, N.A.,

        as L/C Issuer, Swingline Lender and as a Lender

         

By: /s/ Ryan Maples 

        Name: Ryan Maples

        Title: Vice President

         

 

    	 

    	 

    
 

	 	
        RBS CITIZENS, NATIONAL ASSOCIATION

         

By: /s/ Peter M. Benham 

        Name: Peter M. Benham

        Title: Senior Vice President

         

 

    	 

    	 

    
 

	 	
        WELLS FARGO BANK, N.A.

         

By: /s/ Alicia C. Watkins 

        Name: Alicia Cullens Watkins

        Title: Vice President

         

 

    	 

    	 

    

 

	 	
        Regions bank,

        as Co-Documentation Agent and as a Lender
        

         

By: /s/ Stephen T. Hatch 

        Name: Stephen T. Hatch

        Title: Vice President

         

 

    	 

    	 

    

 

	 	
        fifth third bank, an
        Ohio banking corporation,

        as a Lender

         

By: /s/ Dan Komitor 

        Name: Dan Komitor

        Title: Senior Relationship Manager

         

 

    	 

    	 

    
 

	 	
        synovus BANK

         

By: /s/ William Buchly 

        Name: William Buchly

        Title: Corporate Banking Relationship Manager

         

 

    	 

    	 

    
 

	 	
        comerica bank

         

By: /s/ Dru Steinly 

        Name: Dru Steinly

        Title: Vice President

         

 

    	 

    	 

    
 

	 	
        atlantic capital bank

         

By: /s/ J. Christopher Deisley 

        Name: J. Christopher Deisley

        Title: Senior Vice PresidentExhibit 10.1

 

FOURTH MODIFICATION TO MANUFACTURING,

DISTRIBUTING AND TECHNOLOGY LICENSE AGREEMENT

 

THIS FOURTH MODIFICATION TO MANUFACTURING,
DISTRIBUTING AND TECHNOLOGY LICENSE AGREEMENT (this “Fourth Modification”) is made and entered into as of December
15, 2011 by and between Image Sensing Systems, Inc., a Minnesota corporation located at 500 Spruce Tree Centre, 1600 University
Avenue West, St. Paul, Minnesota 55104 (hereinafter, “ISS”), and Econolite Control Products, Inc., a California
corporation located at 3360 E. La Palma Avenue, Anaheim, California 92806 (hereinafter “Econolite”). ISS and Econolite
were the parties to the original Manufacturing, Distributing and Technology License Agreement dated June 11, 1991 (the “Agreement”)
which was subsequently modified, in part, in a Letter Agreement dated June 19, 1997 (the “Letter Agreement”), a Modification
to Manufacturing, Distributing and Technology License Agreement dated September 1, 2000 (the “First Modification”),
Extension and Second Modification to Manufacturing, Distributing and Technology License Agreement dated July 13, 2001 (the
“Second Modification”) a Settlement Agreement, Contract Modification and Mutual Release executed August 3, 2006
(the “Settlement”), and the Extension and Third Modification to Manufacturing, Distributing and Technology License
Agreement dated July 3, 2008 (the “Third Modification”), an Exhibit A dated September 21, 2009 (“Amended
Exhibit A”) and an Exclusive License and Distribution Agreement by and between ISS, Econolite and Econolite Canada,
Inc. effective January 2, 2011 (the “Canada RTMS Agreement”).

 

Recitals:

 

A.                 
The parties desire to add certain Remote Traffic Microwave Sensors (“RTMS Products”)
to the Products and technologies listed in the Agreement.

 

B.                 
The parties desire to update and revise the Mutual Confidentiality and Non-Disclosure Agreement
form provided in the Agreement.

 

NOW, THEREFORE, for and in consideration
of the foregoing premises, and the mutual covenants and agreements contained herein, the parties hereto agree as follows:

 

1.                  
Exhibit A to the Agreement, as modified and amended previously, is superseded by Exhibit A
(dated as of December 15, 2011) attached hereto and made a part hereof by this reference.

 

2.                  
The final paragraph of Section A, Definitions, of Article V of the Agreement is deleted
and a new final paragraph of Section A, Definitions, of Article V is substituted as follows:

 

“‘Autoscope
Territory,’ for purposes of Autoscope Products shall mean Mexico, the United States of America, Canada, and the Caribbean.
‘RTMS Territory,’ for purposes of RTMS Products hereunder shall mean Mexico and the United States of America. The Canada
RTMS Agreement defines the Canadian territory for sales of RTMS products.”

 

3.                  
Except as modified herein, each and every other provision of the Agreements, as modified
are confirmed and reaffirmed as though restated herein.

 

IN WITNESS WHEREOF, the parties hereto
have executed this Fourth Modification effective as of the date first set out above.

 

	IMAGE SENSING SYSTEMS, INC.	 	ECONOLITE CONTROL PRODUCTS, INC.	 
	 	 	 	 	 	 
	By:	/s/ Kenneth R. Aubrey	 	By:	/s/ David St. Amant	 
	 	Title: 	President & CEO	 	 	Title: 	President and Chief Operating Officer	 
	Date: 	12/15/11	 	Date: 	12/15/11

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