Document:

exv10w1

 

Exhibit 10.1

August 31, 2006

 

Len Foxman

Eagle Test Systems, Inc.

2700 Millbrook Drive

Buffalo Grove, IL 60089

Dear Len:

As you know, the Company is in the process of developing a compensation plan for its executive
team, including a review of salaries. To facilitate that process you and we have agreed to extend
your Employment Agreement which expires September 30, 2006 (the “Agreement”) through December 31,
2006

Accordingly, the period for notice referred to in Section 2 of the Agreement with respect to the
period ending September 30, 2006 will be deemed timely given if given at any time prior to December
1, 2006.

Please indicate your agreement by signing in the space indicated below.

Yours very truly,

Eagle Test Systems, Inc.

	 	 	 	 	 
	 	 	 
	By:  	                    /s/ Michael Child
 	 	 
	 	Michael Child, on behalf of the 	 	 
	 	Company and the Compensation
Committee 	 	 
	 

Agreed:

      /s/ Len Foxman

Len Foxmanexv10w2

 

Exhibit 10.2

August 31, 2006

 

Ted Foxman

Eagle Test Systems, Inc.

2700 Millbrook Drive

Buffalo Grove, IL 60089

Dear Ted:

As you know, the Company is in the process of developing a compensation plan for its executive
team, including a review of salaries. To facilitate that process you and we have agreed to extend
your Employment Agreement which expires September 30, 2006 (the “Agreement”) through December 31,
2006

Accordingly, the period for notice referred to in Section 2 of the Agreement with respect to the
period ending September 30, 2006 will be deemed timely given if given at any time prior to December
1, 2006.

Please indicate your agreement by signing in the space indicated below.

Yours very truly,

Eagle Test Systems, Inc.

	 	 	 	 	 
	 	 	 
	By:  	                    /s/ Michael Child
 	 	 
	 	Michael Child, on behalf of the 	 	 
	 	Company and the Compensation
Committee 	 	 
	 

Agreed:

     /s/ Ted Foxman

Ted Foxmanexv4w3

 

Exhibit 4.3

AMENDMENT NO. 1 TO

REGISTRATION RIGHTS AGREEMENT

     THIS AMENDMENT (this “Amendment”) is made as of September 1, 2006 to the Registration
Rights Agreement, dated September 30, 2003, between the Company, the Investors and the
Stockholders, (the “Registration Rights Agreement”). Capitalized terms used herein without
definition shall have the meanings ascribed to such terms in the Registration Rights Agreement.

     WHEREAS, pursuant to Section 9 of the Registration Rights Agreement, Section 4 of the
Registration Rights Agreement may be amended only by a written instrument signed by the Company,
Investors holding a Majority Interest, and Stockholders holding a majority interest in the
Registrable Securities held by Stockholders; and

     WHEREAS, the undersigned Investors hold a Majority Interest and the undersigned Stockholders
hold a majority interest in the Registrable Securities held by Stockholders.

     NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, and in consideration of the mutual covenants contained herein, the parties
hereto, intending to be legally bound, agree as follows:

	1.	 	Section 4 of the Registration Rights Agreement shall be deleted in its entirety and replaced
with the following:
	 
	 	 	“PIGGYBACK REGISTRATION. If at any time or times, the Company shall propose to register any of
its Common Stock or securities convertible into or exchangeable or exercisable for any of its
Common Stock under the Securities Act for sale to the public (whether in connection with a
public offering of securities by the Company (a “primary offering”), a public offering of
securities by shareholders (a “secondary offering”), or both, including pursuant to a demand
under Section 2 hereof, as provided therein, and except (i) with respect to registration
statements on Forms S-4, S-8 or another form not available for registering the Registrable
Securities for sale to the public, and (ii) in connection with a registration effected solely to
implement an employee benefit plan or a transaction to which Rule 145 or any other similar rule
of the Commission under the Securities Act is applicable), the Company shall promptly give
written notice at the applicable address of record to each Investor and each Stockholder then
holding Registrable Securities of its intention to do so. Upon the written request of any of
such Investors or Stockholders, given within seven (7) days after receipt by such Investors or
Stockholders of such notice, the Company shall, subject to the limits contained in this Section
4, use its best efforts to cause all such Registrable Securities of said requesting Investors
and/or Stockholders to be registered under the Securities Act and qualified for sale under any
state blue sky law, all to the extent required to permit such sale or other disposition of said
Registrable Securities; provided, however, that if the Company is advised in writing in good
faith by any managing underwriter of the Company’s securities being offered in a public offering
pursuant to such

 

 

	 	 	registration statement that the amount to be sold by Persons other than the Company
(collectively, “Selling Stockholders”) is greater than the amount that can be offered without
adversely affecting the offering, the Company may reduce the amount offered for the accounts of
Selling Stockholders (including such Investors and/or Stockholders holding shares of Registrable
Securities) to a number deemed satisfactory by such managing underwriter; and provided further,
that the shares to be excluded shall be determined in the following sequence: (i) first,
securities held by any Persons not having any such contractual, incidental registration rights,
(ii) second, securities held by any Persons having contractual, incidental registration rights
pursuant to an agreement other than this Agreement, (iii) third, in a registration requested
pursuant to Section 2, all Registrable Securities other than those held by the initiating
Investor or Investors, (iv) fourth, the Registrable Securities sought to be included by the
Stockholders and (v) fifth, the Registrable Securities sought to be included by the Investors;
provided, however, that so long as the Investors, upon the sale of the Registrable Securities
held by the Investors included in such offering, would receive net proceeds (after underwriting
commissions and discounts) that, when added together with the net proceeds received by the
Investors pursuant to all other sales of Registrable Securities under this Section 4 or Sections
2 and 3 below (including proceeds received in connection with the redemption by the Company of
the Investors’ shares of Redeemable Preferred Stock), would equal or exceed $65,000,000, the
securities held by each Person described in clauses (iv) and (v) above sought to be included in
such registration statement in connection with such underwritten public offering shall be
excluded on a pro rata basis (based upon the aggregate holdings of securities of the holders
thereof requesting inclusion of such Registrable Securities in such registration statement)
holders thereof requesting registration, as determined on a pro rata basis in accordance with
their holdings.”
	 
	2.	 	Except as set forth in this Amendment, all terms and provision of the Registration Rights
Agreement shall remain in full force and effect in accordance with the terms thereof.
	 
	3.	 	This Amendment may be executed by the parties in separate counterparts, each of which when so
executed and delivered will be an original, but all of which together will constitute one and
the same instrument.

[Remainder of page intentionally left blank]

 

 

     IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the date first set
forth above.

	 	 	 	 	 	 	 
	 	 	THE COMPANY:
	 
	 	 	 	 	 	 
	 	 	EAGLE TEST SYSTEMS, INC.
	 
	 	 	 	 	 	 
	 	 	By:	 	/s/ Leonard Foxman
	 	 	 	 	 
	 	 	Name:Leonard Foxman
	 	 	Title: President
	 
	 	 	 	 	 	 
	 	 	STOCKHOLDERS:
	 
	 	 	 	 	 	 
	 	 	LEONARD FOXMAN
	 
	 	 	 	 	 	 
	 	 	By:	 	/s/ Leonard Foxman
	 	 	 	 	 
	 

	 	 	 	 	 	Leonard Foxman
	 
	 	 	 	 	 	 
	 	 	FOXMAN FAMILY, LLC
	 
	 	 	 	 	 	 
	 	 	By:	 	/s/ Leonard Foxman
	 	 	 	 	 
	 

	 	 	 	 	 	Leonard Foxman, Manager
	 
	 	 	 	 	 	 
	 	 	EAGLE TEST SYSTEMS, INC.
	 	 	EMPLOYEE STOCK OWNERSHIP PLAN
	 
	 	 	 	 	 	 
	 

	 	By:
	 	 	 	/s/ Leonard Foxman
	 

	 	 	 	 	 	 
	 

	 	 	 	 	 	Leonard Foxman, not in his individual capacity or in his capacity as
shareholder, director or officer of the Corporation, but solely as trustee of
the Eagle Test Systems Employee Stock Ownership Plan

[Signature Page to Amendment No. 1 to Registration Rights Agreement]

 

 

	 	 	 	 	 
	INVESTORS:
	 
	 	 	 	 
	TA IX L.P.
	 
	 	 	 	 
	By: TA Associates IX LLC, its General Partner
	 
	 	 	 	 
	By: TA Associates, Inc., its Manager
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Michael C. Child
	 

	 	 	 	 
	 

	 	 	 	Name: Michael C. Child
	 

	 	 	 	Title: Managing Director
	 
	 	 	 	 
	TA/ATLANTIC AND PACIFIC IV L.P.
	 
	 	 	 	 
	By: TA Associates AP IV L.P., its General Partner
	 
	 	 	 	 
	By: TA Associates, Inc., its General Partner
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Michael C. Child
	 

	 	 	 	 
	 

	 	 	 	Name: Michael C. Child
	 

	 	 	 	Title: Managing Director
	 
	 	 	 	 
	TA STRATEGIC PARTNERS FUND A L.P.
	 
	 	 	 	 
	By: TA Associates SPF L.P., its General Partner
	 
	 	 	 	 
	By: TA Associates, Inc., its General Partner
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Michael C. Child
	 

	 	 	 	 
	 

	 	 	 	Name: Michael C. Child
	 

	 	 	 	Title: Managing Director
	 
	 	 	 	 
	TA STRATEGIC PARTNERS FUND B L.P.
	 
	 	 	 	 
	By: TA Associates SPF L.P., its General Partner
	 
	 	 	 	 
	By: TA Associates, Inc., its General Partner
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Michael C. Child
	 

	 	 	 	 
	 

	 	 	 	Name: Michael C. Child
	 

	 	 	 	Title: Managing Director

[Signature Page to Amendment No. 1 to Registration Rights Agreement]

 

 

	 	 	 	 	 
	TA INVESTORS LLC
	 
	 	 	 	 
	By: TA Associates, Inc., its Manager
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Michael C. Child
	 

	 	 	 	 
	 

	 	 	 	Name: Michael C. Child
	 

	 	 	 	Title: Managing Director
	 
	 	 	 	 
	TA SUBORDINATED DEBT FUND, L.P.
	 
	 	 	 	 
	By: TA Associates SDF LLC, its General Partner
	 
	 	 	 	 
	By: TA Associates, Inc., its Manager
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Michael C. Child
	 

	 	 	 	 
	 

	 	 	 	Name: Michael C. Child
	 

	 	 	 	Title: Managing Director

[Signature Page to Amendment No. 1 to Registration Rights Agreement]

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