Document:

exv10w29

 

Exhibit 10.29

October 31, 2003

American Medical Systems, Inc.

10700 Bren Road

Minnetonka, Minnesota 55343-9679

Attn: Jim Call

	 	 	 
	Re:

	 	Credit Agreement dated as of March 24, 2000 among American
Medical Systems, Inc., a Delaware corporation (the “Borrower”), the
guarantors party thereto (the “Guarantors”), the lenders party
thereto (the “Lenders”) and Bank of America, N.A., as agent for the
Lenders thereunder (in such capacity, the “Agent”) (as amended,
modified or supplemented from time to time, the “Credit Agreement”)

Ladies and Gentlemen:

Reference is made to the Credit Agreement described above, the defined terms of
which are incorporated herein by reference.

At the request of the Credit Parties, the Required Lenders hereby agree that
(A) the reference to “270 days” appearing in clause (b) of the definition of
“Cash Equivalents” in Section 1.1 of the Credit Agreement is hereby amended and
replaced with a reference to “fifteen months” and (B) the reference to “six
months” appearing in clause (e) of the definition of “Cash Equivalents” in
Section 1.1 of the Credit Agreement is hereby amended and replaced with a
reference to “fifteen months”.

Except as amended hereby, all of the terms and provisions of the Credit
Agreement shall remain in full force and effect.

The Borrower hereby agrees to pay the fees and expenses of the Agent in
connection with this amendment.

This letter agreement shall be governed by and construed in accordance with the
laws of the State of New York.

 

 

American Medical System, Inc.

October 31, 2003

Page 2

This letter may be executed in any number of counterparts (including facsimile
counterparts), each of which shall constitute an original, but all of which
when taken together shall constitute but onc contract.

	 	 	 	 	 
	 	 	Sincerely,
	 
	 	 	 	 
	 	 	BANK OF AMERICA, NA.,
	 	 	as Agent for the Lenders
	

	 	By:	 	 
	

	 	 	 	

	

	 	Title:
	 	       LILIANA CLAAR
	

	 	 	 	       Vice President

	 	 	 
	ACCEPTED AND AGREED AS OF

THE DATE FIRST ABOVE WRITTEN:
	 
	 	 
	AMERICAN MEDICAL SYSTEMS, INC.
	 
	 	 
	By:

Title:

	 	

	 
	 	 
	Acknowledged, Accepted and Agreed

This 30th day of October, 2003:
	 
	 	 
	AMERICAN MEDICAL SYSTEMS HOLDINGS, INC.

AMS RESEARCH CORPORATION

AMS SALES CORPORATION

AMERICAN MEDICAL SYSTEMS GYNECOLOGY INC (formerly CRYOGEN, INC.)
	 
	 	 
	By:

Title:

	 	

 

 

American Medical System, Inc.

October 31, 2003

Page 2

	 	 	 	 	 
	CONSENTED TO:	 	BANK OF AMERICA, N.A.
	 
	 	 	 	 
	

	 	By:	 	 
	

	 	 	 	

	

	 	Name:	 	 
	

	 	 	 	

	

	 	Title:	 	 
	

	 	 	 	

	 
	 	 	 	 
	 	 	U.S. BANK NATIONAL ASSOCIATION
	 
	 	 	 	 
	

	 	By:	 	 
	

	 	 	 	

	

	 	Name:	 	 
	

	 	 	 	

	

	 	Title:	 	 
	

	 	 	 	

	 
	 	 	 	 
	 	 	FLEET NATIONAL BANK
	 
	 	 	 	 
	

	 	By:	 	 
	

	 	 	 	

	

	 	Name:	 	 
	

	 	 	 	

	

	 	Title:	 	 
	

	 	 	 	

	 
	 	 	 	 
	 	 	LASALLE BANK NATIONAL ASSOCIATION
	 
	 	 	 	 
	

	 	By:	 	 
	

	 	 	 	

	

	 	Name:	 	 
	

	 	 	 	

	

	 	Title:exv10w30

 

EXHIBIT 10.30

FIFTH AMENDMENT TO CREDIT AGREEMENT

     THIS FIFTH AMENDMENT TO CREDIT AGREEMENT (this “Agreement”), dated as of
December 31, 2003, is entered into by and among AMERICAN MEDICAL SYSTEMS, INC.,
a Delaware corporation (the “Borrower”), each of the Persons identified as a
“Guarantor” on the signature pages hereto, each of the Persons identified as a
“Lender” on the signature pages hereto and BANK OF AMERICA, N.A., as Agent for
the Lenders (in such capacity, the “Agent”).

RECITALS

     A. The Borrower, the Guarantors, the Lenders and the Agent, are party to
that certain Credit Agreement dated as of March 24, 2000 (as previously amended
prior to the date hereof, the “Credit Agreement”). Unless otherwise defined
herein or the context otherwise requires, capitalized terms used in this
Agreement, including its preamble and recitals, have the meanings provided in
the Credit Agreement.

     B. The Credit Parties have requested certain amendments to the Credit
Agreement.

     C. The Required Lenders have agreed to amend the Credit Agreement on the
terms and conditions hereinafter set forth.

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

     1. Capital Expenditures. The numerical amount “$4,000,000” appearing in
Section 8.14 of the Credit Agreement is hereby deleted and replaced with
$10,000,000.”

     2. Operating Leases. The numerical amount “$500,000” appearing in Section
8.16 of the Credit Agreement is hereby deleted and replaced with $1,000,000.”

     3. Effectiveness. This Agreement shall be and become effective as of the
date hereof at such time as the Agent shall have (a) received executed
counterparts (including facsimile signatures) of this Agreement, which
collectively shall have been duly executed on behalf of each of the Credit
Parties and the Required Lenders and (b) payment of the reasonable fees and
expenses of Moore & Van Allen PLLC, counsel for the Agent.

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

     5. Representations and Warranties. Each Credit Party hereby represents
and warrants that (i) each Credit Party that is party to this Agreement: (a)
has the requisite corporate power and authority to execute, deliver and perform
this Agreement, as applicable and (b) is duly authorized to, and has been
authorized by all necessary corporate action, to execute, deliver and perform
this Agreement, (ii) the representations and warranties contained in Section 6
of the

 

 

Credit Agreement are true and correct in all material respects on and as
of the date hereof upon giving effect to this Agreement as though made on and
as of such date (except for those which expressly relate to an earlier date)
and (iii) no Default or Event of Default exists under the Credit Agreement on
and as of the date hereof upon giving effect to this Agreement.

     6. Acknowledgment. The Guarantors acknowledge and consent to all of the
terms and conditions of this Agreement and agree that this Agreement does not
operate to reduce or discharge the Guarantors’ obligations under the Credit
Agreement or the other Credit Documents. The Guarantors further acknowledge
and agree that the Guarantors have no claims, counterclaims, offsets, or
defenses to the Credit Documents and the performance of the Guarantors’
obligations thereunder or if the Guarantors did have any such claims,
counterclaims, offsets or defenses to the Credit Documents or any transaction
related to the Credit Documents, the same are hereby waived, relinquished and
released in consideration of the Lenders’ execution and delivery of this
Agreement.

     7. Counterparts. This Agreement may be executed by the parties hereto in
several counterparts, each of which shall be deemed to be an original and all
of which shall constitute together but one and the same agreement.

     8. Binding Effect. This Agreement, the Credit Agreement and the other
Credit Documents embody the entire agreement between the parties and supersede
all prior agreements and understandings, if any, relating to the subject matter
hereof. These Credit Documents represent the final agreement between the
parties and may not be contradicted by evidence of prior, contemporaneous or
subsequent oral agreements of the parties. Except as expressly modified and
amended in this Agreement, all the terms, provisions and conditions of the
credit Documents shall remain unchanged and shall continue in full force and
effect.

     9. GOVERNING LAW. THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE
PARTIES HEREUNDER SHALL BE GOVERNED BY AND CONSTRUED AND INTERPRETED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

[Remainder of page is intentionally left blank.]

 

 

     IN WITNESS WHEREOF, each of the parties hereto has caused a counterpart of
this Agreement to be duly executed and delivered as of the date first above
written.

	 	 	 	 	 
	BORROWER:	 	AMERICAN MEDICAL SYSTEMS, INC.
	 
	 	 	 	 
	

	 	By:	 	 
	

	 	 	 	

	

	 	Name:	 	 
	

	 	 	 	

	

	 	Title	 	 
	

	 	 	 	

	 
	 	 	 	 
	GUARANTORS:	 	AMERICAN MEDICAL SYSTEMS HOLDINGS, INC.

AMS RESEARCH CORPORATION

AMS SALES CORPORATION

AMERICAN MEDICAL SYSTEMS

      GYNECOLOGY INC (formerly CRYOGEN, INC.)
	 
	 	 	 	 
	

	 	By:	 	 
	

	 	 	 	

	

	 	Name:	 	 
	

	 	 	 	

	

	 	Title:	 	 
	

	 	 	 	

	 
	 	 	 	 
	LENDERS:	 	BANK OF AMERICA, N.A.
	 	 	Individually in its capacity as a
	 	 	Lender and in its capacity as Agent
	 
	 	 	 	 
	

	 	By:	 	 
	

	 	 	 	

	

	 	Name:	 	 
	

	 	 	 	

	

	 	Title:	 	 
	

	 	 	 	

	 
	 	 	 	 
	 	 	U.S. BANK NATIONAL ASSOCIATION
	 
	 	 	 	 
	

	 	By:	 	 
	

	 	 	 	

	

	 	Name:	 	 
	

	 	 	 	

	

	 	Title:	 	 
	

	 	 	 	

	 
	 	 	 	 
	 	 	FLEET NATIONAL BANK
	 
	 	 	 	 
	

	 	By:	 	 
	

	 	 	 	

	

	 	Name:	 	 
	

	 	 	 	

	

	 	Title:	 	 
	

	 	 	 	

	 
	 	 	 	 
	 	 	LASALLE BANK NATIONAL ASSOCIATION
	 
	 	 	 	 
	

	 	By:	 	 
	

	 	 	 	

	

	 	Name:	 	 
	

	 	 	 	

	

	 	Title:<PAGE>
                                                                    EXHIBIT 10.7

                               [Pixar Letterhead]

January 23, 2003

Ms. Lois Scali
1212 North Tigertail Road
Los Angeles, California 90049

Dear Lois:

It is with great pleasure that Pixar offers you the position of Executive
Vice-President and General Counsel. It's expected that your start date would be
on or before April 1, 2003.

Your annual salary will be $436,000 paid on a weekly basis. Pixar will grant you
a Non-statutory Stock Option to purchase 300,000 shares of Pixar Common Stock,
subject to approval by Pixar's Board of Directors and to the terms of Pixar's
Stock Plan and Option Agreement. The option price will be Pixar's closing stock
price as quoted in The Wall Street Journal on the date of grant. Your stock
options will vest over four years as follows: 25% on your first year anniversary
and 25% every anniversary until fully vested.

In addition, you will receive a one-time sign-on bonus of $200,000 to be paid
within 30 days of your full-time start date. This is to cover all moving
expenses including the sale of your house. The non-moving expense part of the
bonus would be repayable if you should voluntarily terminate your employment
within eighteen months of your start date with Pixar.

You will be entitled to participate in Pixar's Employee Benefit Program, which
includes health and life insurance, long term disability insurance and a 401(k)
Retirement Plan. Your health benefits will begin on your first day of
employment.

While we hope our relationship may be long and mutually beneficial, please be
aware that the duration of your employment will be for an unspecified term and
can be terminated at the will of either party on notice to the other. In the
event that you are involuntarily terminated for reasons other than cause during
the first eighteen months of employment, Pixar will give you a severance payment
equal to the remaining salary you would have earned in your first eighteen
months of employment. Stock vesting will cease upon termination. You would be
required to sign a severance agreement, including a full release of rights, to
get this payment.

I very much look forward to having you join us. Please don't hesitate to contact
me to discuss any aspect of this letter.

I have enclosed two original copies of your offer letter. Please confirm your
acceptance of this letter on or before January 31, 3003 by signing and returning
one of the copies in the envelope provided. Please keep the second copy for your
files.

Sincerely,

/s/ STEVE JOBS
Steve Jobs                          Accepted  /s/ LOIS SCALI
                                              ---------------------
Chairman and CEO                              Lois Scali

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