Document:

EX-10.1

 EXHIBIT 10.1 

EXECUTION COPY 
 AMENDMENT NO. 2 TO 
 CREDIT AND GUARANTY AGREEMENT 

AMENDMENT NO. 2 TO CREDIT AND GUARANTY AGREEMENT (this “Amendment”), dated as of October 26, 2012 (this
“Amendment”), is entered into by and among AURORA DIAGNOSTICS, LLC, a Delaware limited liability company, (the “Borrower”), AURORA DIAGNOSTICS HOLDINGS, LLC, a Delaware limited liability company
(“Holdings”), and certain subsidiaries and affiliates of Borrower identified on the signature pages hereto as “Guarantors” (such subsidiaries and affiliates, together with Holdings, are each referred to individually as a
“Guarantor”, and collectively, jointly and severally, as “Guarantors”), BARCLAYS BANK PLC (“Barclays Bank”), as administrative agent (in such capacity, the “Administrative Agent”)
and as collateral agent (in such capacity, the “Collateral Agent”), and the undersigned Lenders (as defined below). Capitalized terms not otherwise defined in this Amendment have the same meanings as specified in the Credit
Agreement (as defined below). 
 PRELIMINARY STATEMENTS: 

(1) The Borrower, Holdings, the guarantors party thereto, Barclays Bank, as Administrative Agent and Collateral Agent, the financial
institutions from time to time party thereto as lenders (the “Lenders”), and the other agents party thereto, entered into that certain Credit and Guaranty Agreement, dated as of May 26, 2010 (such Credit and Guaranty Agreement,
as amended and restated on December 20, 2010, as further amended, supplemented or otherwise modified and as in effect immediately prior to giving effect to this Amendment, the “Credit Agreement”). 

(2) The Borrower has requested that the Lenders approve certain amendments to the Credit Agreement as set forth in this Amendment.

 (3) The Borrower has, on the date hereof, delivered notice to the Administrative Agent pursuant to Section 2.13(b), that
it intends to reduce the Revolving Commitments, such reduction to be effective on November 1, 2012. 
 (4) In accordance
with Section 10.5 of the Credit Agreement, the Administrative Agent, the undersigned Lenders (hereinafter, such undersigned Lenders, the “Consenting Lenders”), the Borrower and the other Credit Parties have agreed, subject to
the terms and conditions stated below, to amend the Credit Agreement as herein set forth. 
 SECTION 1. Amendments to Credit
Agreement. 
 The Credit Agreement is, effective as of the Effective Date (as defined below), hereby amended as follows:

 (a) Section 1.1 of the Credit Agreement is amended: 

(i) by deleting the definition of “Interest Coverage Ratio” in its entirety. 

(ii) by deleting all references to the term “Interest Coverage Ratio” in the definition of
“Subsidiary”. 

  

					
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	  		  	ADX - 2nd Amendment to Credit and Guaranty Agreement

 (b) Section 6.8 of the Credit Agreement is amended: 

(i) by amending and restating clause (a) in its entirety to read as follows: 

“Intentionally Omitted.” 

(ii) by amending and restating clause (b) in its entirety to read as follows: 

“Senior Secured Leverage Ratio. Parent Entity shall not permit the Senior Secured Leverage Ratio as of the last day of any
Fiscal Quarter (other than any Exempt Fiscal Quarter), beginning with the Fiscal Quarter ending September 30, 2012, to exceed 3.00:1.00”. 
 SECTION 2. Reference to and Effect on the Credit Documents. 
 (a) On and
after the Effective Date, each reference in the Credit Agreement to “this Agreement”, “hereunder”, “hereof” or words of like import referring to the Credit Agreement, and each reference in the other Credit Documents to
“the Credit Agreement”, “thereunder”, “thereof” or words of like import referring to the Credit Agreement, shall mean and be a reference to the Credit Agreement, as amended by this Amendment. 

(b) The Credit Agreement, as specifically amended by this Amendment, and the other Credit Documents are, and shall continue to be, in
full force and effect, and are hereby in all respects ratified and confirmed. 
 (c) Except as expressly provided herein, the
execution, delivery and effectiveness of this Amendment shall not operate as a waiver of any right, power or remedy of any Lender, the Administrative Agent or the Collateral Agent under the Credit Agreement or any other Credit Document, nor shall it
constitute a waiver of any provision of the Credit Agreement or any Credit Document. 
 (d) This Amendment shall be a Credit
Document as defined in the Credit Agreement. 
 SECTION 3. Conditions of Effectiveness. This Amendment shall become
effective as of the first date upon which each of the conditions precedent set forth below in this Section 3 shall be satisfied or waived in accordance with Section 10.5 of the Credit Agreement (such date, the
“Effective Date”): 
 (a) Amendment. The Administrative Agent shall have received a number of copies
reasonably determined by the Administrative Agent of counterparts of this Amendment executed by the Requisite Lenders (determined as of the date hereof), the Borrower, Holdings and each other Guarantor. 

(b) Expenses; Fees. Borrower shall have paid: 

(i) to the Administrative Agent all out-of-pocket expenses of the Administrative Agent (including the reasonable fees and
expenses of counsel for the Administrative Agent) in connection with the negotiation, preparation and delivery of this Amendment; 
 (ii) to the Administrative Agent such fees as may be separately agreed between the Borrower and the Administrative Agent; and 

  

					
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 (iii) to each Tranche B Term Loan Lender that is a Consenting Lender who
delivers an executed counterpart to this Amendment to the Administrative Agent prior to 5:00 pm (New York time) on Friday October 26, 2012, a consent fee in an amount equal to 0.25% of the principal amount of the sum of the aggregate Tranche B
Term Loans of such Consenting Lender. 
 SECTION 4. Consent and Affirmation of the Guarantors. Each Guarantor (prior to,
and after giving effect to, this Amendment) hereby consents to this Amendment and confirms and agrees that (a) notwithstanding the effectiveness of this Amendment, the Credit Agreement (including the Guaranty therein) and the other Credit
Documents are, and shall continue to be, in full force and effect and are hereby ratified and confirmed in all respects, except that, on and after the effectiveness of this Amendment, each reference in the Credit Agreement or any other Credit
Document to the “Credit Agreement”, “thereunder”, “thereof” or words of like import shall mean and be a reference to the Credit Agreement, as amended by this Amendment, and (b) the Collateral Documents to which
such Guarantor is a party and all of the Collateral described therein do, and shall continue to, secure the payment of all of the Guaranteed Obligations. For greater certainty and without limiting the foregoing, each Guarantor hereby confirms that
the existing security interests granted by such Guarantor in favor of the Secured Parties pursuant to the Credit Documents in the Collateral described therein shall continue to secure the obligations of such Guarantor under the Credit Documents.

 SECTION 5. Confirmation of Representations and Warranties. 

(a) The Borrower hereby represents and warrants, both on and as of the date hereof and on and as of the Effective Date, that all
representations and warranties contained in the Credit Agreement and each other Credit Document are true and correct in all material respects on and as of the date hereof, provided that to the extent that such representations and warranties
specifically refer to an earlier date, they shall be true and correct in all material respects as of such earlier date, and provided further that any representation and warranty that is qualified as to “materiality”,
“Material Adverse Effect” or similar language shall be true and correct (after giving effect to any such qualification) in all respects on such respective dates. 
 (b) Each Credit Party represents and warrants, on and as of the date hereof, that (i) it has the requisite power to execute and deliver this Amendment, and all corporate or other action required to
be taken by it for the due and proper authorization, execution, delivery and performance of this Amendment and the consummation of the transactions contemplated hereby has been duly and validly taken and (ii) this Amendment has been duly
authorized, executed and delivered by it. 
 (c) Each Credit Party hereby acknowledges that it has been provided with a copy of
the Credit Agreement and each other Credit Document. 
 (d) Each Credit Party hereby represents and warrants that, both on and
as of the date hereof and on and as of the Effective Date, both before and after giving effect to this Amendment, no event has occurred and is continuing that constitutes a Default. 

SECTION 6. Execution in Counterparts. This Amendment may be executed in any number of counterparts and by different parties hereto
in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute but one and the same agreement. Delivery of an executed counterpart of a signature page to this Amendment by
telecopier or other electronic means shall be effective as delivery of a manually executed counterpart of this Amendment. 

  

					
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 SECTION 7. Governing Law. This Amendment shall be governed by, and construed in
accordance with, the laws of the state of New York. 
 [Remainder of Page Intentionally Left Blank] 

  

					
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 IN WITNESS WHEREOF, the parties have caused this Amendment to be executed by their
respective authorized officers as of the date first above written. 
  

					
	BORROWER:
	
	AURORA DIAGNOSTICS, LLC
		
	By:	 	 /s/ Gregory A. Marsh

		 	Name:	 	Gregory A. Marsh
		 	Title:	 	 Executive Vice President, Chief
 Financial Officer & Treasurer

	
	HOLDINGS:
	
	AURORA DIAGNOSTICS HOLDINGS, LLC
		
	By:	 	 /s/ Gregory A. Marsh

		 	Name:	 	Gregory A. Marsh
		 	Title:	 	 Executive Vice President, Chief
 Financial Officer & Treasurer

  

					
	NYDOCS02/978253	  	[SIGNATURE PAGE]	  	ADX - 2nd Amendment to Credit and Guaranty Agreement

 
					
	GUARANTORS:
	
	AURORA DIAGNOSTICS FINANCING, INC.
	AURORA GEORGIA, LLC
	AURORA GREENSBORO, LLC
	AURORA LMC, LLC
	AURORA MASSACHUSETTS, LLC
	AURORA MICHIGAN, LLC
	AURORA NEW HAMPSHIRE, LLC
	BERNHARDT LABORATORIES, INC.
	BIOPSY DIAGNOSTICS, LLC
	C R COLLECTIONS, LLC
	CUNNINGHAM PATHOLOGY, L.L.C.
	DERMPATH NEW ENGLAND, LLC
	GREENSBORO PATHOLOGY, LLC
	HARDMAN PATHOLOGY ADX, LLC
	LABORATORY OF DERMATOPATHOLOGY ADX, LLC
	MARK & KAMBOUR, LLC
	MARK & KAMBOUR HOLDINGS, INC.
	PATHOLOGY SOLUTIONS, LLC
	SEACOAST PATHOLOGY, INC.
	TEXAS PATHOLOGY, LLC
	TWIN CITIES DERMATOPATHOLOGY, LLC
		
	By:	 	 /s/ Gregory A. Marsh

		 	Name:	 	Gregory A. Marsh
		 	Title:	 	 Executive Vice President, Chief
 Financial Officer & Treasurer

  

					
	NYDOCS02/978253	  	[SIGNATURE PAGE]	  	ADX - 2nd Amendment to Credit and Guaranty Agreement

 
					
	THE LMC REVOCABLE TRUST, B.T.
		
	By:	 	 /s/ Gregory A. Marsh

		 	Name:	 	Gregory A. Marsh
		 	Title:	 	Trustee
	
	THE WPC REVOCABLE TRUST, B.T.
		
	By:	 	 /s/ Gregory A. Marsh

		 	Name:	 	Gregory A. Marsh
		 	Title:	 	Trustee

  

					
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	 BARCLAYS BANK PLC,
 as Administrative Agent, Collateral Agent,
 Swing Line Lender, Issuing Bank and
Lender

		
	By:	 	 /s/ Diane Rolfe

		 	Name:	 	Diane Rolfe
		 	Title:	 	Director

  

					
	NYDOCS02/978253	  	[SIGNATURE PAGE]	  	ADX - 2nd Amendment to Credit and Guaranty AgreementAmendment dated November 6, 2012 to employment agreement with Arthur G. Dauber

 Exhibit 10.1 
 AMENDMENT NO. 2 TO EMPLOYMENT AGREEMENT OF 
 ARTHUR G. DAUBER

 Arthur G. Dauber (“Employee”) and American Electric Technologies, Inc. (“Company”) entered into an
Employment Agreement with a term commencing on January 1, 2010 and ending on December 31, 2011 (the “Agreement”). The Agreement was amended by Amendment No. 1 dated November 29, 2010 (the “First Amendment”)

 The parties to the Agreement desire to further amend the Agreement in the following particulars: 

1. The term of the Agreement will end on December 31, 2013 (“Expiration Date”). 

2. Paragraph 2. Nature of Duties of the Agreement is deleted in its entirety and the following is substituted therefore. 

 

	 	2.	Nature of Duties. 

 a. If
I am so elected by the Board of Directors of the Company, I will serve as Chairman of the Board of Directors of the Company for the remainder of calendar year 2012 and calendar year 2013. My responsibilities will include serving as Chairman of the
Board of Directors and managing the international joint ventures. I will also perform special projects and work on merger and acquisition possibilities as agreed to by me and the CEO of the Company. 

b. I shall devote 1,000 hours of my business time in 2012 and 2013 to the performance of my duties for the Company, which I shall perform
faithfully and to the best of my ability. I shall be subject to the Company’s policies, procedures and approval practices as generally in effect from time to time. 

 3. Paragraph 4. Compensation and Related Matters of the Agreement is deleted in its entirety
and the following is substituted therefor. 
  

	 	4.	Compensation and Related Matters. 

  

					
	 	  	 2012
	  	 2013

	Base Salary	  	$120,000	  	$130,000
	Expected Bonus	  	1% of Equity Income of Joint Ventures	  	1% of Equity Income of Joint Ventures
	Total Expected Compensation	  	$120,000 + 1% JV Equity Income	  	$130,000 + 1% JV Equity Income

 a. Within ninety (90) days after the end of each fiscal year of Company, I will be paid an
amount equal to 1% of the amount reported by the Company on its “consolidated statement of operations” on the line styled “Equity In Income of Joint Ventures” with respect to the Company’s joint ventures known as MIEFE,
Bomay and AAG (Brazil). 
 b. Automobile Allowance. The Company shall provide an automobile, or shall provide to
me an automobile allowance equal to $600.00 per month 2012 and 2013. 
  

	 	c.	Standard Benefits. During my employment, I shall be entitled to continue to participate in all executive benefit plans and programs, including paid
vacations, and other benefits generally available to other similarly situated Company executives in accordance with the terms of those plans and programs and applicable law. The Company shall have the right to terminate or change any such plan or
program at any time. Provided however that I shall be entitled to take 3 weeks paid vacation in 2013. I shall also be entitled to Health and Life insurance benefits not to exceed cost to the Company of $600 per month in 2013, plus in each year the
cost of my annual physical examinations. 

  

	 	d.	Indemnification. The Company shall extend to me the same indemnification arrangements as are generally provided to other similarly situated Company
executives, including after termination of my employment. 

	 	e.	Expenses. I shall be entitled to receive prompt reimbursement for all reasonable and customary travel and business expenses I incur in connection with my
employment, but I must incur and account for those expenses in accordance with the policies and procedures established by the Company. 

  

	 	f.	Sarbanes-Oxley Act Loan Prohibition. To the extent that any Company benefit, program, practice, arrangement, or this Agreement would or might otherwise result in
my receipt of an illegal loan (“Loan”), the Company shall use reasonable efforts to provide me with a substitute for the Loan that is lawful and of at least equal value to me. If this cannot be done, or if doing so would be
significantly more expensive to the Company than making the Loan, the Company need not make the Loan to me or provide me substitute for it. 

 Except as hereby specifically amended, the Agreement shall be and remain in full force and effect. 
 Executed at Houston, Texas, this 6th day of November, 2012. 
  

							
	Employee:	 		    	American Electric Technologies, Inc.
				
	 

  
	 		    	By:	 	 

  

	Arthur G. Dauber	 		    		 	Casey Crenshaw, Chairman of the Compensation Committee

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