Document:

exv10w2

 

Exhibit 10.2

To:

DEUTSCHE BANK AG

Filiale Deutschlandgeschäft

Koblenzer Straße 7

57072 Siegen

acting on its own behalf and — as trustee for all rights and obligations of all
other beneficiaries under this guarantee — on behalf of these beneficiaries

Guarantee

We have been informed that the branches and/or subsidiaries of Deutsche Bank AG (hereinafter
collectively and each individually named “Lending Office”) have agreed, subject to certain terms
and conditions, upon our first demand guarantee, to maintain banking business relations with IPG
Laser GmbH, Burbach, Germany, (hereinafter named “Affiliated Company”) and in this context to
conclude contracts (hereinafter collectively and each individually named “Agreement”). Accordingly,
we issue this Guarantee as security for all existing, future and conditional claims resulting from
the respective banking business relation and in order to ensure that the Lending Office shall
receive payment of all amounts expressed to be payable by the Affiliated Company under the
Agreement (the “Indebtedness”) up to the amount of EUR 15.000.000,— in the currency and at the
place provided therein at its stated or accelerated maturity, net of any deduction or withholding
whatsoever and irrespective of the factual or legal circumstances (including, but not limited to,
force majeure or any event or action delaying or preventing any conversion or transfer to or
receipt by you in the account agreed to by you) and motives by reason of which the Affiliated
Company may fail to pay the Indebtedness.

Provided that and as far as claims of subsidiaries of Deutsche Bank AG are collateralised by this
guarantee, Deutsche Bank AG is entitled to require payment to itself, for the purpose of forwarding
the amount received to the respective subsidiary.

1. Guarantee and Guaranteed Amount

We hereby irrevocably and unconditionally guarantee
the payment to the Lending Office, in Siegen
(or on demand at the place of the Lending Office concerned) and in the respective currency or – on
demand of the Lending Office – in Euro up to an amount of – hereinafter converted if necessary –

EUR 15.000.000,—

(in words: Euro fifteenmillion)

(including interest, cost, expenses, fees and all other amounts expressed to be payable by the
Lending Office under the Agreement).

2. Payment upon First Demand

We shall effect payment hereunder immediately upon first demand of Deutsche Bank AG and
confirmation in writing or by teletransmission that the amount claimed from us equals the
Indebtedness (or part thereof) which the Affiliated Company has not paid when due.

 

 

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3. Primary, Independent Obligation

This Guarantee constitutes our primary and independent obligation to make payment to you in
accordance with the terms hereof, under any and all circumstances, regardless of the validity,
legality or enforceability of the Agreement and irrespective of all objections, exceptions or
defences from the Affiliated Company or third parties.

4. Guarantee for Payment

You shall not be required first to claim payment from, to proceed against, or enforce any claims on
or security given by, the Affiliated Company or any other person before making demand from us
hereunder.

5. Exclusion of Specific Defences

This Guarantee and our obligations hereunder shall not be contingent upon the legal relationship
between the Lending Office and the Affiliated Company and shall be independent of any enforceable
notwithstanding (a) any defect in any provision of the Agreement, (b) any absence or insufficiency
of corporate resolutions relating to the Indebtedness, (c) any inadequate representation of the
Affiliated Company, (d) any absence of licences or other authorisations or any factual or legal
restrictions or limitations existing or introduced in the country of the Affiliated Company, (e)
any agreement made between the Lending Office and the Affiliated Company concerning the
Indebtedness, including any extension of the term of payment and any rescheduling or restructuring
of the Indebtedness, whether or not we shall have given our consent thereto, (f) the taking,
existence, variation or release of any other collateral provided to the Lending Office for the
Indebtedness, and the Lending Office’s legal relationship with any provider of such other
collateral, (g) any right of the Affiliated Company to rescind the Agreement, and (h) any right
that the Lending Office may have to set-off the Indebtedness against a counterclaim of the
Affiliated Company.

6. Taxes

Any amount payable by us hereunder will be paid free and clear of and without deduction of any
withholding taxes. Withholding taxes are taxes, duties or governmental charges of any kind
whatsoever which are imposed or levied in, by or on behalf of the country in which we are/or the
Affiliated Company is situated, and which are deducted from any payment hereunder and/or under the
Agreement. If the deduction of withholding taxes is required by law, then we shall pay such
additional amounts as may be necessary in order that the net amounts received by you after such
deduction shall equal the amount that would have been receivable had no such deduction been
required.

7. Currency Indemnity

Payments made by us to you pursuant to a judgement or order of a court or tribunal in a currency
other than that of the Guarantee (the “Guarantee Currency”) shall constitute a discharge of our
obligation hereunder only to the extent of the amount of the Guarantee Currency that you,
immediately after receipt of such payment in such other currency, would be able to purchase with
the amount so received on a recognised foreign exchange market. If the amount so received should be
less than the amount due in the Guarantee Currency under this Guarantee, then as a separate and
independent obligation, which gives rise to a separate cause of action, we are obliged to pay the
difference.

 

 

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8. Limitation of Subrogation

So long as any sum remains payable under the Agreement, we undertake not to assert any claim we may
have against the Affiliated Company by reason of the performance of our obligations under this
Guarantee, whether on contractual grounds or on any other legal basis, until all amounts payable to
the Lending Office under the Agreement have been fully and irrevocably received or recovered. Any
amount received or recovered by us from the Affiliated Company shall be held in trust for and
immediately paid to the Lending Office. If we make any payment to you hereunder, we shall only be
subrogated in the Lending Office’s rights against the Affiliated Company once all amounts payable
to the Lending Office under the Agreement have been fully and irrevocably received or recovered by
the Lending Office.

9. Dissolution/Change of Structure

The obligations under this Guarantee shall remain in force notwithstanding any dissolution or
change in the structure or legal form of the Affiliated Company.

10. Restructuring

The Lending Office shall without our consent be entitled to reschedule or restructure principal,
interest and other amounts payable under the Agreement, to release the Affiliated Company from its
obligations and/or to accept a new debtor if, for reasons which it deems important, the Lending
Office or other companies of the Deutsche Bank group agree to similar measures also with respect to
the Lending Office’s or their other credits extended to entities in the country of the Affiliated
Company. Our liability under this Guarantee shall not be affected by such measures, and we
undertake to pay to you upon first demand, in accordance with the terms hereof, all such amounts in
full and at such time as they would have become due and payable had the Agreement and the
Indebtedness remained effective and unaltered. Our consent to the terms and documentation of such
rescheduling, restructuring, release or debt assumption shall not be required.

11. New Money

Should the Lending Office agree, in connection with a debt restructuring or in order to avoid such
restructuring, to extend new credits (“New Money”) to the Affiliated Company or other entities of
the public or private sector in the country of the Affiliated Company and should the Lending
Office’s participation in such New Money be calculated on the basis of credits extended by the
Lending Office and/or other companies of the Deutsche Bank group to the Affiliated Company or such
other entities, we hereby irrevocably and unconditionally guarantee, in accordance with the terms
hereof, that portion of the claims for principal, interest, cost, expenses, fees and other amounts
payable in respect of the New Money by which the Lending Office’s participation in the New Money is
increased by virtue of the Indebtedness, regardless of whether the Lending Office is legally
obliged to take part in the restructuring of the New Money. Our consent to the terms and
documentation of the New Money shall not be required.

12. Miscellaneous

We represent and warrant that this Guarantee is binding, valid and enforceable against us in
accordance with its terms. We waive any express acceptance of this Guarantee by you. We confirm
that we have taken, and will continue to take, all necessary steps to ensure that any amount
claimed by you from us hereunder can be transferred to you immediately, free of any deduction,

 

 

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cost or charges whatsoever. We waive any right to require information from you in respect of the
Agreement and the Indebtedness.

13. Term

This Guarantee is effective as of its date of issuance and shall expire once all amounts expressed
to be payable by the Affiliated Company to you under the Agreement have been fully and irrevocably
received by you. However, should you thereafter become liable to return monies received in payment
of the Indebtedness as a result of any bankruptcy, composition or similar proceedings affecting the
Affiliated Company, this Guarantee shall be reinstated and become effective again notwithstanding
such expiration.

14. Partial Invalidity

Should any provision of this Guarantee be unenforceable or invalid, the other provisions hereof
shall remain in force.

15.- Waiver of Jury Trial

WE HEREBY IRREVOCABLY WAIVE ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM
ARISING OUT OF OR RELATING TO THIS GUARANTEE

16. Applicable Law, Jurisdiction

THIS GUARANTEE AND ALL RIGHTS AND OBLIGATIONS ARISING HEREUNDER SHALL IN ALL RESPECTS BE GOVERNED
BY GERMAN LAW. WE HEREBY SUBMIT TO THE JURISDICTION OF THE COMPETENT COURTS OF SIEGEN, GERMANY,
AND, AT YOUR OPTION, OF THE COMPETENT COURTS OF OUR DOMICILE.

We hereby irrevocably appoint IPG Laser GmbH, Burbach, Germany, as our agent for service of process
or other legal summons in connection with any action or proceedings in Germany arising under this
Guarantee. We irrevocably waive any objection which we may now or hereafter have that such
proceedings have been brought in an inconvenient forum.

Oxford, MA 01540, USA, dated Oct. 10, 2007

Binding signatures of guarantor  
          /s/ Valentin P. Gapontsev    
       

IPG Photonics Corporationexv10w1

 

Exhibit 10.1

FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

     This First Amendment (this “Amendment”) is made as of September 30, 2007 to that certain
Amended and Restated Credit Agreement dated September 29, 2006 (the “Credit Agreement”) between
CITIZENS BANK OF MASSACHUSETTS, now known as RBS CITIZENS, N.A. (“Bank”) and VIRTUSA CORPORATION, a
Delaware corporation with an address of 2000 West Park Drive, Westborough, Massachusetts 01581
(“Borrower”). Capitalized terms used and not defined in this Amendment shall have the meanings
ascribed to them in the Credit Agreement.

RECITALS

     Borrower has requested that Bank agree to extend the Revolving Credit Maturity Date through
December 30, 2007 and that Bank agree to eliminate the annual field examination of Borrower’s books
and records.

     Bank is amenable to so extending the Revolving Credit Maturity Date and so amending the Credit
Agreement, but only on the terms and conditions set forth in the Credit Agreement as amended
hereby.

AGREEMENT

     In consideration of the foregoing, of the undertakings of Borrower and Bank herein and for
other good and valuable consideration, receipt and sufficiency of which is hereby acknowledged, the
parties hereto hereby agree as follows:

1. All references in the Credit Agreement and other Loan Documents to Bank shall be deemed to
mean RBS CITIZENS, N.A.

2. Effective September 30, 2007, the definition of the term “Revolving Credit Maturity Date”
contained in Section 1.1 of the Credit Agreement is deleted and replaced with the following text:

     “Revolving Credit Maturity Date. December 31, 2007.”

3. Section 5.5 of the Credit Agreement is hereby deleted in its entirety and replaced with the
following:

     “5.5. Inspection. On the request of Lender from time to time, Borrower shall permit
the Lender and its designees, at reasonable times and intervals of time, and upon reasonable
written notice, to (i) visit and inspect the United States properties of the Borrower and its
Subsidiaries, (ii) examine and make copies of and take abstracts from the United States books and
records of the Borrower and its Subsidiaries, (iii) verify Accounts Receivables using its customary
practices and procedures, and (iv) discuss the affairs, finances, and accounts of the Borrower and
its Subsidiaries with their appropriate officers, employees and independent accountants, all at the
expense of the Borrower. In the absence of an existing Event of Default,
any such examination shall be at Lender’s expense, and during the continuance of an Event of
Default such examination shall be at Borrower’s expense.”

4. Except as set forth on the disclosure schedule attached hereto as Exhibit A, Borrower
represents and warrants that all of the representations and warranties made by Borrower in the
Credit Agreement and other Loan Documents are and continue to be true and correct on the date
hereof, except to the extent that any of such representations and warranties relate by their terms
solely to a date prior to date of this Amendment. Except as set forth on the disclosure schedule
attached hereto as Exhibit A, Borrower hereby ratifies and confirms all of its covenants
and agreements contained in the Credit Agreement and represents that it is not aware of any default
of any of the terms and provisions of the Credit Agreement.

5. Borrower further represents and warrants that this Amendment is its valid and binding
obligation, enforceable against it in accordance with its terms, except as may be affected by
bankruptcy and other similar laws of general application affecting the rights and remedies of
creditors.

 

 

6. Borrower shall promptly execute and deliver such further documents, instruments and agreements
and take such further action as Bank may reasonably request, in its sole discretion, to effect the
purposes of this Amendment and the Credit Agreement and other Loan Documents, including, but not
limited to the execution and delivery of all documents necessary or reasonably required by Bank to
ensure that Bank has perfected liens on all assets of Borrower to the extent originally provided
under the Credit Agreement and the other Loan Documents. Borrower hereby appoints any officer or
agent of Bank as Borrower’s true and lawful attorney in fact, with power of substitution to endorse
the name of Borrower or any of their officers or agents in such regard, exercisable by Bank during
the continuance of an Event of Default.

7. Except as otherwise expressly provided in this Amendment, nothing in this Amendment shall
extend to or affect in any way any of the Obligations or any of the rights and remedies of Bank
arising under the Credit Agreement and other Loan Documents, and Bank shall not be deemed to have
waived any or all of such rights and remedies with respect to any Event of Default or event or
condition which, with notice or the lapse of time, would become an Event of a Default and which,
upon Borrower’s execution and delivery of this Amendment, might otherwise exist or which might
hereafter occur.

8. By execution of this Amendment, Borrower acknowledges and confirms that it does not, as of the
date of this Amendment, have any offsets, defenses or claims against Bank or any of its officers,
agents, directors or employees whether asserted or unasserted to the Obligations.

9. To the extent possible and except for the specific changes to the Credit Agreement effected
hereby, this Amendment shall be construed to be consistent with the provisions of the Credit
Agreement. In the event of any inconsistency between the provisions of this Amendment and any
other document (including, without limitation, any Loan
Document), instrument, or agreement entered into by and between Bank and Borrower, the provisions
of this Amendment shall govern and control. This Amendment shall be binding upon Bank and Borrower,
and their representatives, successors, and assigns, and shall inure to the benefit of Bank and
Borrower and their respective successors and assigns. This Amendment and all documents,
instruments, and agreements executed in connection herewith incorporate all of the discussions and
negotiations between Borrower and Bank, either expressed or implied, concerning the matters
included herein and in such other documents, instruments and agreements, any statute, custom, or
usage to the contrary notwithstanding. No such discussions or negotiations shall limit, modify, or
otherwise affect the provisions hereof. No modification, amendment, or waiver of any provision of
this Amendment, or any provision of any other document, instrument, or agreement between any
Borrower and Bank shall be effective unless executed in writing by the party to be charged with
such modification, amendment, or waiver.

10. Borrower acknowledges and agrees that it shall promptly pay to Bank the full amount of all
reasonable out-of-pocket costs and expenses of Bank incurred by Bank in preparation and
documentation of this Amendment and all documents ancillary hereto or incurred by Bank after the
date of this Amendment in connection with administration of the Obligations or enforcement of any
rights of Bank under the Credit Agreement and other Loan Documents or otherwise in respect of any
of the Obligations.

11. If any clause or provision of this Amendment is determined to be illegal, invalid or
unenforceable under any present or future law by the final judgment of a court of competent
jurisdiction, the remainder of this Amendment will not be affected thereby. It is the intention of
the parties that if any such provision is held to be invalid, illegal or unenforceable, there will
be added in lieu thereof an enforceable provision as similar in terms to such provision as is
possible, and that such added provision will be legal, valid and enforceable.

12. This Amendment is delivered to Bank in The Commonwealth of Massachusetts and it is the desire
and intention of the parties that this Amendment and the Loan Documents be in all respects
interpreted according to the laws of The Commonwealth of Massachusetts. Borrower specifically and
irrevocably consents to the personal and subject matter, jurisdiction and venue of any court of The
Commonwealth of Massachusetts sitting in the counties of Suffolk or Middlesex or in the District
Court of the United States for the District of Massachusetts with respect to all matters concerning
this Amendment or the Loan Documents or the enforcement of any of the foregoing.

13. This Amendment may be executed in one or more counterparts, each of which will be deemed an
original document, but all of which will constitute a single document. This Amendment will not be
binding on or constitute

 

 

evidence of a contract between the parties until such time as a
counterpart of this document has been executed by each of the parties and delivered to Bank.

WITNESS our hands and seals effective as of September 30, 2007.

	 	 	 	 	 	 	 	 	 
	WITNESS (to all)	 	 	 	BORROWER:	 	 
	 	 	 	 	VIRTUSA CORPORATION	 	 
	 
	 	 	 	 	 	 	 	 
	   /s/ Maryellen Donohue
 

	 	 
	 	By:
	 	/s/Thomas Holler
 

	 	 
	 	 	 	 	duly authorized EVP and Chief Financial Officer	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	BANK:	 	 
	 	 	 	 	RBS CITIZENS, N.A.	 	 
	 
	 	 	 	 	 	 	 	 
	   /s/illegible
 

	 	 
	 	By:
	 	/s/Victoria Lazzel
 

	 	 
	 	 	 	 	Victoria Lazzell, Senior Vice President	 	 

 

 

EXHIBIT A

Disclosure Schedule to First Amendment to Amended and Restated Credit Agreement

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