Document:

PLEDGE AGREEMENT

 Exhibit 10.1 
 

 
 PLEDGE AGREEMENT 
 1. GRANT OF SECURITY INTEREST. The undersigned ABD Holding Company, Inc., a Delaware corporation (“Pledgor”) hereby irrevocably and unconditionally grants a security interest in, a lien upon and the
right of set-off against, and assigns and transfers to Blue Ridge Investments, L.L.C. and its successors and assigns (collectively, “Lender”) all property referred to in Exhibit A attached hereto and incorporated herein, as
hereafter amended or supplemented from time to time (the “Collateral”). The parties hereto expressly agree that all rights, assets and property at any time held in or credited to any securities account constituting Collateral shall be
treated as financial assets as defined in the Uniform Commercial Code as in effect in any applicable state (the “UCC”). 
 2.
INDEBTEDNESS. 
 (a) The Collateral secures and will secure all Indebtedness of Pledgor to Lender. Each person or entity
obligated under any Indebtedness, including the Pledgor, is sometimes referred to in this Agreement as a “Debtor.” 
 (b) “Indebtedness” means: 
 (i) all debts, obligations or liabilities to Lender, now or hereafter existing
or incurred whether absolute or contingent, arising under that certain Promissory Note dated June 20, 2008 in the principal amount of Twenty Million Dollars ($20,000,000) executed by Pledgor in favor of Lender (the “Note”) and all
other instruments, documents and agreements of every kind and nature now or hereafter executed in connection with the Note (including all renewals, increases, extensions, restatements and replacements thereof and amendments and modifications of any
of the foregoing), 
 (ii) all obligations and liabilities of Pledgor to Lender hereunder, and 
 (iii) all costs, attorneys’ fees and expenses incurred by Lender in connection with the collection or enforcement of any of the
above. 
 3. LIMITATION ON EXTENSIONS OF CREDIT; COLLATERAL MAINTENANCE. 
 (a) Lender is not obligated to make any extension of credit under any Indebtedness if, as a result, the Outstanding Balance (as defined
later in this Section) would exceed the Borrowing Base (as defined later in this Section). In addition, at all times during the term of this Agreement, Pledgor agrees to maintain in the Accounts described on Exhibit A hereto, as security for the
Indebtedness, Collateral (“Eligible Collateral”) with an Adjusted Collateral Value in excess of the Outstanding Balance. The Adjusted Collateral Value shall be determined by multiplying the Collateral Value (determined as set forth later
in this Section) of the Accounts by the Margin Call Percentage. The Advance Percentage and the Margin Call Percentage as such terms are used in this Agreement shall be determined by the Lender in its reasonable discretion and shall each initially be
95%. Such determination may be modified by Lender in its reasonable discretion as circumstances warrant and 

  

 1 

 
Lender shall promptly notify Pledgor of such change, provided that the failure to so notify Pledgor shall not affect the validity of such determination.

 (b)(i) If the Outstanding Balance exceeds at any time the sum of the amounts determined by multiplying the Collateral
Value of the Accounts by the Margin Call Percentage then Pledgor shall have ten (10) business days from the date notification (whether oral or written) of such noncompliance is delivered to Pledgor, to either pledge additional Eligible
Collateral satisfactory to Lender, in its sole discretion, or reduce the Outstanding Balance such that, after giving effect thereto, the Outstanding Balance is less than the Borrowing Base as of the date on which such action is taken. Any reduction
in the Outstanding Balance shall not affect or reduce any future principal payments due except to the extent such reductions are applied in accordance with the documents evidencing or securing the Indebtedness. 
 (ii) In the event Pledgor fails to comply with the terms of subsection (b)(i) of this Section, Lender may, without any further notice of
any kind, exercise any of the following rights and remedies, at Lender’s option: (A) the rights and remedies set out in the Section entitled “EVENTS OF DEFAULT; REMEDIES”, including without limitation, the right to accelerate the
Indebtedness and liquidate the Collateral, and (B) the right to sell all or any part of the Collateral and apply the proceeds of such sale to the Outstanding Balance to the extent necessary so that the Outstanding Balance is less than the
Borrowing Base. 
 (iii) In the event Pledgor fails to comply with the terms of subsection (a) of this Section and the
Eligible Collateral is declining speedily in value or threatens to decline speedily in value then, notwithstanding subsection (b)(i) of this Section, Lender shall have no obligation to give notice of the failure to comply with subsection (a) of
this Section nor to provide an opportunity to cure such noncompliance, and in such a case Lender may immediately at Lender’s sole option (A) declare the Indebtedness to be immediately due and payable, and/or (B) exercise its rights
and remedies set out in subsection (b) of the Section entitled “EVENTS OF DEFAULT; REMEDIES”, including without limitation, selling all or any part of the Collateral and applying the proceeds of such Collateral to the Outstanding
Balance. 
 (c) Pledgor may not sell, trade, withdraw or substitute any part of the Collateral without the prior written
approval of Lender. 
 (d) For purposes hereof: 
 (i) The “Borrowing Base” is the sum of the amounts determined by multiplying the Collateral Value by the Advance Percentage from
time to time in effect. 
 (ii) The “Outstanding Balance” means the outstanding principal balance of the
Indebtedness from time to time. In the case of any guaranty included in the calculation of the Outstanding Balance, the calculation shall include the outstanding principal amount of any facility subject to the guaranty, subject to any limitation set
forth in the guaranty. 
 (iii)(A) The “Collateral Value” of the Accounts described on Exhibit A hereto and any
assets therein shall be determined by the Lender in its reasonable discretion and may be the value quoted to Lender by a source or sources selected by Lender in its sole discretion, which may include affiliates of Lender 
 (B) No Collateral shall be deemed to be Eligible Collateral unless it is subject to a perfected, first priority security interest in favor
of Lender. 

  

 2 

 
Furthermore, to the extent that Pledgor has not (1) delivered any Collateral consisting of certificated securities or instruments into the possession of
Lender, (2) obtained the written agreement of any bailee or securities intermediary in form and substance satisfactory to Lender with respect to any Collateral, (3) delivered, in connection with any Collateral consisting of partnership,
limited liability company or other similar interests held in any account, any consent or agreement required by the constituent documents of such partnership, limited liability company or other entity or otherwise requested by Lender in form and
substance satisfactory to Lender, or (4) taken any other action required by Lender with respect to the Collateral, Lender, in its sole discretion, may exclude from the calculations of this Agreement, the Collateral Value of any such Collateral
until Pledgor has complied with such covenant to the sole satisfaction of Lender. 
 4. PLEDGOR’S COVENANTS, REPRESENTATIONS AND
WARRANTIES. Pledgor covenants, represents and warrants that unless compliance is waived by Lender in writing: 
 (a) Pledgor
is the legal and beneficial owner of all the Collateral free and clear of any and all liens, encumbrances, or interests of any third parties other than the security interest of Lender, and will keep the Collateral free of all liens, claims, security
interests and encumbrances of any kind or nature, whether voluntary or involuntary, except the security interest of Lender. 
 (b) Pledgor shall, at Pledgor’s expense, take all actions necessary or advisable from time to time to maintain the first priority and perfection of the security interest of Lender in the Collateral and shall not take any actions that
would alter, impair or eliminate said priority or perfection. 
 (c) Pledgor agrees to pay prior to delinquency all taxes,
charges, liens and assessments against the Collateral, and upon the failure of Pledgor to do so, Lender at its option may pay any of them and shall be the sole judge of the legality or validity thereof and the amount necessary to discharge the same.

 (d) If any of the Collateral is margin stock as defined in Regulation U promulgated by the Board of Governors of the
Federal Reserve System of the United States (“FRB”), Pledgor will provide Lender a properly executed Form U-1 Purpose Statement. Lender and Pledgor will comply with the requirements and restrictions imposed by Regulation U. Pledgor agrees
that it will not maintain any margin stock in the Accounts. 
 (e) Pledgor’s exact legal name is correctly set forth on
the signature page hereof. Pledgor will notify Lender in writing at least 30 days prior to any change in Pledgor’s name or identity. 
 (f) Pledgor’s chief executive office is, and has been for the four-month period preceding the date hereof (or, if less, the entire period of the existence of Pledgor) located, in the state specified on the
signature page hereof. In addition, Pledgor is an organization of the type and (if an unregistered entity), is incorporated in or organized under the laws of the state specified on such signature page. Pledgor shall give Lender at least thirty
(30) days notice before changing the location of its chief executive office, type of organization, business structure or state of incorporation or organization. 
 (g) Pledgor’s organizational identification number, if any, assigned by its state of incorporation or organization is correctly set
forth on the signature page hereof. Pledgor shall promptly notify Lender (i) of any change of its organizational identification number, or (ii) if Pledgor does not have an organizational identification number and later obtains one, of such
organizational identification number. 
  

 3 

 5. LENDER APPOINTED ATTORNEY IN FACT. Pledgor authorizes and irrevocably appoints Lender as
Pledgor’s true and lawful attorney-in-fact with full power of substitution to take any action and execute or otherwise authenticate any record or other documentation that Lender considers necessary or advisable to accomplish the purposes of
this Agreement, including but not limited to, the following actions: (a) to endorse, receive, accept and collect all checks, drafts, other payment orders and instruments representing or included in the Collateral or representing any payment,
dividend or distribution relating to any Collateral or to take any other action to enforce, collect or compromise any of the Collateral; (b) to transfer any Collateral (including converting physical certificates to book-entry holdings) into the
name of Lender or its nominee or any broker-dealer (which may be an affiliate of Lender) and to execute any control agreement covering any Collateral on Pledgor’s behalf and as attorney-in-fact for Pledgor in order to perfect Lender’s
first priority and continuing security interest in the Collateral and in order to provide Lender with control of the Collateral, and Pledgor’s signature on this Agreement or other authentication of this Agreement shall constitute an irrevocable
direction by Pledgor to any Lender, custodian, broker dealer, any other securities intermediary or commodity intermediary holding any Collateral or any issuer of any letters of credit to comply with any instructions or entitlement orders, of Lender
without further consent of Pledgor; (c) to participate in any recapitalization, reclassification, reorganization, consolidation, redemption, stock split, merger or liquidation of any issuer of securities which constitute Collateral, and in
connection therewith Lender may deposit or surrender control of the Collateral, accept money or other property in exchange for the Collateral, and take such action as it deems proper in connection therewith, and any money or property received on
account of or in exchange for the Collateral shall be applied to the Indebtedness or held by Lender thereafter as Collateral pursuant to the provisions hereof; (d) to exercise any right, privilege or option pertaining to any Collateral, but
Lender has no obligation to do so; (e) to file any claims, take any actions or institute any proceedings which Lender determines to be necessary or appropriate to collect or preserve the Collateral or to enforce Lender’s rights with
respect to the Collateral; (f) to execute in the name or otherwise authenticate on behalf of Pledgor any record reasonably believed necessary or appropriate by Lender for compliance with laws, rules or regulations applicable to any Collateral,
or in connection with exercising Lender’s rights under this Agreement; (g) to file any financing statement relating to this Agreement electronically, and Lender’s transmission of Pledgor’s signature on and authentication of the
financing statement shall constitute Pledgor’s signature on and authentication of the financing statement; (h) to make any compromise or settlement it deems desirable or proper with reference to the Collateral; (i) to do and take any
and all actions with respect to the Collateral and to perform any of Pledgor’s obligations under this Agreement; and (j) to execute any documentation reasonably believed necessary by Lender for compliance with any laws, rules or
regulations applicable to any Collateral hereunder that constitutes restricted or control securities under the securities laws. The foregoing appointments are irrevocable and coupled with an interest and shall survive the death or disability of
Pledgor and shall not be revoked without Lender’s written consent. To the extent permitted by law, Pledgor hereby ratifies all said attorney-in-fact shall lawfully do by virtue hereof. 
 6. VOTING RIGHTS. 
 (a) So
long as no Event of Default shall have occurred and is continuing and Lender has not delivered the notice specified in subsection (b) below, Pledgor shall be entitled to exercise any and all voting and other consensual rights pertaining to the
Collateral or any part thereof for any purpose not inconsistent with the terms of this Agreement or any document or agreement executed in connection herewith. 
 (b) Upon the occurrence and during the continuance of an Event of Default, at the option of Lender exercised in a writing sent to
Pledgor, all rights of Pledgor to exercise the voting and other consensual rights which it would otherwise be entitled to exercise pursuant to subsection (a) above shall cease, and Lender shall thereupon have the sole right to exercise such
voting and other consensual rights. 
  

 4 

 7. EVENTS OF DEFAULT; REMEDIES. 
 (a) Any one or more of the Events of Default under the Note shall be a default hereunder (each an, “Event of Default”).

 (b) If an Event of Default occurs, Lender may do any one or more of the following, to the extent permitted by law:

 (i) Declare any Indebtedness immediately due and payable, without notice. 
 (ii) Exercise as to any or all of the Collateral all the rights, powers and remedies of an owner, subject to the Section entitled
“VOTING RIGHTS”. 
 (iii) Enforce the security interest given hereunder pursuant to the UCC and any other
applicable law. 
 (iv) Sell all or any part of the Collateral at public or private sale in accordance with the UCC, without
advertisement, in such manner and order as Lender may elect. Lender may purchase the Collateral for its own account at any such sale. Lender shall give Pledgor such notice of any public or private sale as may be required by the UCC, provided that to
the extent notice of any such sale is required by the UCC or other applicable law, Pledgor agrees that at least 10 days notice to Pledgor of the time and place of any public sale or the time after which any private sale is to be made shall
constitute reasonable notification and provided further that, if Lender fails to comply with this sentence in any respect, its liability for such failure shall be limited to the liability (if any) imposed on it as a matter of law under the UCC or
other applicable law. Pledgor acknowledges that Collateral may be sold at a loss to Pledgor, and that, in such event, Lender shall have no liability or responsibility to Pledgor for such loss. Pledgor further acknowledges that a private sale may
result in prices and other terms less favorable to the seller than if such sale were a public sale and, notwithstanding such circumstances, agrees that no such private sale shall, to the extent permitted by applicable law, be deemed not to be
“commercially reasonable” solely as a result of such prices and other sale terms. Upon any such sale, Lender shall have the right to deliver, assign and transfer to the buyer thereof the Collateral so sold. Each buyer at any such sale
shall hold the Collateral so sold absolutely and free from any claim or right of whatsoever kind, including any equity or right of redemption of Pledgor that may be waived or any other right or claim of Pledgor, and Pledgor, to the extent permitted
by law, hereby specifically waives all rights of redemption, stay or appraisal that Pledgor has or may have under any law now existing or hereafter adopted. 
 Without limiting any other rights and remedies available to Lender, Pledgor expressly acknowledges and agrees that with respect to
Collateral consisting of notes, bonds or other securities which are not sold on a recognized market , Lender shall be deemed to have conducted a commercially reasonable sale of such Collateral if (a) such sale is conducted by any nationally
recognized broker-dealer (including any affiliate of Lender), investment bankers or any other method common in the securities industry, and (b) if the purchaser is Lender or any affiliate of Lender, the sale price received by Lender in
connection with such sale is reasonably supported by quotations received from one or more other nationally recognized broker-dealers, investment bankers or other financial institutions. 
 (v) Enforce the security interest of Lender in any deposit account which is part of the Collateral by applying such account to the
Indebtedness. 
  

 5 

 (vi) Exercise any other remedy provided under this Agreement or by any applicable law.

 (vii) Comply with any applicable state or federal law requirements in connection with a disposition of the Collateral and
such compliance will not be considered to affect adversely the commercial reasonableness of any sale or other disposition of the Collateral. 
 (viii) Sell the Collateral without giving any warranties as to the Collateral. Lender may specifically disclaim any warranties of title or the like. This procedure will not be considered to affect adversely the
commercial reasonableness of any sale or other disposition of the Collateral. 
 Pledgor agrees that the Collateral may be sold as provided for in this
Pledge Agreement and expressly waives any rights of notice of sale, advertisement procedures, or related provisions granted under applicable law, including the New York Lien Law. All cash proceeds received by or on behalf of Lender in respect of any
sale of, collection from, or other realization upon all or any part of the Collateral may, following the payment of the fees and expenses of Lender, be held by Lender as collateral for, and/or then or at any time thereafter applied in whole or in
part by Lender to, the Indebtedness (including, without limitation, the undrawn amount of any letters of credit) in such order as Lender may elect. Any surplus of such cash or cash proceeds held by or on behalf of Lender and remaining after payment
in full of all the Indebtedness shall be paid to Pledgor. If the proceeds of sale, collection or other realization of or upon the Collateral pursuant to this Section are insufficient to cover the costs and expenses of such realization and the
payment in full of all Indebtedness, Pledgor and Debtor shall remain liable for any deficiency to the extent Pledgor and Debtor are obligated therefor under the other documents executed in connection with the Indebtedness and this Agreement.

 8. RIGHT TO CURE; LIMITATION ON LENDER’S DUTIES. If Pledgor fails to perform any agreement contained herein, Lender may perform or
cause performance of such agreement and the expenses of Lender incurred in connection therewith shall be payable by Pledgor or Debtor under the Section entitled “COSTS”. Any powers conferred on Lender hereunder are solely to protect its
interest in the Collateral and shall not impose any duty upon it to exercise any such powers. Except for reasonable care in the custody of any Collateral in its possession and the accounting for moneys actually received by it hereunder, Lender shall
have no duty as to any Collateral or as to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any Collateral. Lender shall be deemed to have exercised reasonable care in the custody and
preservation of the Collateral in its possession if the Collateral is accorded treatment substantially equal to that which Lender accords its own property, it being understood that Lender shall not have any responsibility for (a) ascertaining,
exercising or taking other action or giving Pledgor notice with respect to subscription rights, calls, conversions, exchanges, maturities, lenders or other matters relative to any Collateral, whether or not Lender has or is deemed to have knowledge
of such matters, or (b) taking any necessary steps to preserve rights against any parties with respect to any Collateral. Lender shall not be liable for any loss to the Collateral resulting from acts of God, war, civil commotion, fire,
earthquake, or other disaster or for any other loss or damage to the Collateral except to the extent such loss is determined by a court of competent jurisdiction by final and nonappealable judgment to have resulted from Lender’s gross
negligence or willful misconduct. 
 9. WAIVERS. Lender shall be under no duty or obligation whatsoever and Pledgor waives any right to
require Lender to (i) make or give any presentment, demands for performances, notices of nonperformance, protests, notices of protest or notices of dishonor in connection with any obligations or evidences of indebtedness held by Lender as
Collateral, or in connection with any obligation or evidences of indebtedness which constitute in whole or in part the Indebtedness, (ii) proceed against any person or entity, (iii) proceed against or exhaust any collateral, or
(iv) pursue any other remedy in Lender’s power; and Pledgor waives any defense arising by reason of any disability or other defense of Debtor or any other person, or by reason of the cessation from any cause whatsoever of the 

  

 6 

 
liability of Debtor or any other person. Until the Indebtedness is paid in full, Pledgor waives any right of subrogation, reimbursement, indemnification, and
contribution (contractual, statutory or otherwise), including without limitation any claim or right of subrogation under the bankruptcy Code (Title 11 of the U.S. Code) or any successor statute, arising from the existence or performance of this
Agreement, and Pledgor waives any right to enforce any remedy which Lender now has or may hereafter have against Debtor or against any other person and waives any benefit of and any right to participate in any Collateral or security whatsoever now
or hereafter held by Lender. If Pledgor is not also a Debtor with respect to a specified Indebtedness, Pledgor authorizes Lender without notice or demand and without affecting Pledgor’s liability hereunder, from time to time to: (i) renew,
extend, accelerate or otherwise change the time for payment of or otherwise change the terms of the Indebtedness or any part thereof, including increase or decrease of the rate of interest thereon; (ii) take and hold security, other than the
Collateral, for the payment of the Indebtedness or any part thereof, and exchange, enforce, waive and release the Collateral or any part thereof or any such other security; and (iii) release or substitute Debtor or any one or more of them, or
any of the endorsers or guarantors of the Indebtedness or any part thereof, or any other parties thereto and Pledgor consents to the taking of, or failure to take, any action by Lender which might in any manner or to any extent vary the risks of
Pledgor under this Agreement or which, but for this provision, might operate as a discharge of Pledgor. Pledgor agrees that it is solely responsible for keeping itself informed as to the financial condition of Debtor and of all circumstances which
bear upon the risk of nonpayment or the risk of a margin call or liquidation of the Collateral. 
 10. TRANSFER, DELIVERY AND RETURN OF
COLLATERAL. 
 (a) Pledgor shall immediately deliver or cause to be delivered to Lender (or the Securities Intermediary, if
any) (i) any certificates or instruments now or hereafter representing or evidencing Collateral and such certificates and instruments shall be in suitable form for transfer without restriction or stop order by delivery, or shall be accompanied
by duly executed instruments of transfer or assignment in blank in form and substance satisfactory to Lender, and (ii) in the same form as received (with any necessary endorsement), all dividends and other distributions paid or payable in cash
in respect of any Collateral and any such amounts, if received by Pledgor, shall be received in trust for the benefit of Lender and be segregated from the other property or funds of Pledgor. 
 (b) Lender may at any time deliver the Collateral or any part thereof to Pledgor and the receipt by Pledgor shall be a complete and full
acquittance for the Collateral so delivered, and Lender shall thereafter be discharged from any liability or responsibility therefor. 
 (c) Upon the transfer of all or any part of the Indebtedness, Lender may transfer all or any part of the Collateral and shall be fully discharged thereafter from all liability and responsibility with respect to such
Collateral so transferred, and the transferee shall be vested with all the rights and powers of Lender hereunder with respect to such Collateral so transferred; but with respect to any Collateral not so transferred Lender shall retain all rights and
powers hereby given. Pledgor agrees that Lender may disclose to any prospective purchaser or transferee and any purchaser or transferee of all or part of the Indebtedness any and all information in Lender’s possession concerning Pledgor, this
Agreement and the Collateral. 
 11. CONTINUING AGREEMENT AND POWERS. 
 (a) This is a continuing Agreement and all the rights, powers and remedies hereunder shall, unless otherwise limited herein, apply to all
past, present and future Indebtedness of Debtor or any one or more of them to Lender, including that arising under successive transactions which shall either continue the Indebtedness, increase or decrease it, or from time to time create new
Indebtedness after all or any prior Indebtedness has been satisfied, and notwithstanding the death, incapacity, cessation of business, dissolution or bankruptcy of Debtor or any one or more of them, or any other event or proceeding affecting Debtor
or any one or more of them. 
  

 7 

 (b) Until all Indebtedness shall have been paid in full and Lender shall have no
obligation to extend credit to any Debtor, the power of sale and all other rights, powers and remedies granted to Lender hereunder shall continue to exist and may be exercised by Lender at the time specified hereunder irrespective of the fact that
the Indebtedness or any part thereof may have become barred by any statute of limitations, or that the personal liability of Debtor or any one or more of them may have ceased. Pledgor waives the benefit of any statute of limitations as applied to
this Agreement. 
 12. SECURITIES INTERMEDIARY. If permitted by Lender, some or all of the Collateral may be held at a broker or other
securities intermediary (the “Securities Intermediary”). Pledgor shall pay to the Securities Intermediary any charges or costs imposed by the Securities Intermediary. Pledgor at no time shall request that the Securities Intermediary
release any Collateral to Pledgor, except as expressly permitted by Lender. Lender may require that Pledgor obtain a control agreement, signed by the Securities Intermediary, in form and substance acceptable to Lender. Lender may, at any time but in
accordance with the terms of this Agreement and any control agreement, require the Securities Intermediary to do any or all of the following: (a) disburse any or all of the Collateral to Lender; (b) allow Lender (and not Pledgor) to
exercise any rights relating to the Collateral; (c) sell some or all of the Collateral and remit the sales proceeds (less the Securities Intermediary’s normal sales charge) to Lender; and (d) buy and sell Collateral only upon the
instructions of Lender (and not Pledgor). If Lender assigns or transfers its rights under this Agreement and Lender is the Securities Intermediary for any or all of the Collateral, Pledgor agrees that Lender, in such capacity, is irrevocably
directed by Pledgor to comply with instructions or entitlement orders with respect to such Collateral originated by any assignee or transferee of this Agreement without further consent of Pledgor. 
 13. COSTS. To the extent permitted by law, all advances, charges, costs and expenses, including reasonable attorneys’ fees, incurred or paid by
Lender in exercising any right, power or remedy conferred by this Agreement or in the enforcement thereof, and including the charges and expenses of Lender’s custody unit or of any Securities Intermediary, shall become a part of the
Indebtedness secured hereunder and shall be paid to Lender by Debtor and Pledgor immediately and without demand, with interest thereon at an annual rate equal to the highest rate of interest of any Indebtedness secured by this Agreement (or, if
there is no such interest rate, at the maximum interest rate permitted by law for interest on judgments). Such costs and attorneys’ fees shall include the allocated cost of in-house counsel to the extent permitted by law. 
 14. WAIVER. Pledgor acknowledges that it has requested Lender to make the loan to it evidenced by the Note. The Note may be secured by a securities
account maintained by Pledgor at Bank of America (as defined below) which securities account may be managed by Columbia Management or an affiliate thereof (“Columbia”). Bank of America and Columbia are affiliates of Lender and each other.
Pledgor hereby acknowledges and agrees that the various capacities that Lender, Bank of America and Columbia are acting in as a result of the loan requested, can create a conflict between its interest and the interests of Lender, Columbia and Bank
of America. Pledgor hereby waives any conflict of interest that Lender, Bank of America and Columbia may have or any other allegation of a breach of fiduciary duty with respect to all matters directly or indirectly arising from or relating to the
loan evidenced by the Note, including the administration of the Note and the enforcement of the documents securing the Note, including this Agreement. 
 15. NOTICES. Unless otherwise provided or agreed to herein or required by law, notice and communications provided for in this Agreement shall be in writing and shall be mailed, telecopied or delivered to Pledgor to
the address or facsimile number for notices set forth for Pledgor below or across from its signature below or at such other address or facsimile number as shall be designated by Pledgor in a written notice to Lender at the address for notices set
forth for Lender below or across from Lender’s signature below. If Pledgor’s address or facsimile number for notices is not entered below and Pledgor has not otherwise designated such address or facsimile number to Lender in writing, then
the address and/or facsimile number for Pledgor in Lender’s records shall be deemed the address or facsimile for 

  

 8 

 
notices to Pledgor. Notices and other communications sent by (a) first class mail shall be deemed delivered on the earlier of actual receipt or on the
fourth business day after deposit in the U.S. mail, postage prepaid, (b) overnight courier shall be deemed delivered on the next business day after deposit with the overnight courier, (c) facsimile shall be deemed delivered when
transmitted and (d) any other method, shall be deemed delivered when delivered. To the extent that oral notification is provided for or agreed to herein, such oral notification may be made by telephone to any of the number(s) set forth on the
signature page for Pledgor; provided that any oral notification in person or at any other telephone number shall constitute notification hereunder. 
 16. INDEMNITY. Pledgor shall indemnify, hold harmless and defend Lender and its directors, officers, agents and employees, from and against any and all claims, actions, obligations, liabilities and expenses, including defense costs,
investigative fees and costs, and legal fees and damages arising from their execution of or performance under this Agreement or any control agreement executed by Lender in connection with the Collateral or any allegation of a conflict of interest or
breach of fiduciary duty as a result of any action taken by Lender, Bank of America or Columbia as permitted in the documents relating to the loan evidenced by the Note, except to the extent that such claim, action, obligation, liability or expense
is determined by a court of competent jurisdiction by final and nonappealable judgment to have resulted from the gross negligence or willful misconduct of such indemnified person. This indemnification shall survive the termination of this Agreement.

 17. MISCELLANEOUS. 
 (a) This Agreement (i) may be waived, altered, modified or amended only by an instrument in writing, duly executed by the party or parties sought to be charged or bound thereby, and (ii) may be executed in any number of identical
counterparts, each of which shall be deemed an original for all purposes and all of which constitute, collectively, one agreement; but, in making proof of this Agreement, it shall not be necessary to produce or account for more than one such
counterpart. Any waiver, express or implied, of any provision hereof and any delay or failure by Lender to enforce any provision shall not preclude Lender from enforcing any such provision thereafter. 
 (b) Pledgor hereby irrevocably authorizes Lender to file one or more financing statements describing all or part of the Collateral, and
continuation statements, or amendments thereto, relative to all or part of the Collateral as authorized by applicable law. Such financing statements, continuation statements and amendments will contain any other information required by the UCC for
the sufficiency or filing office acceptance of any financing statement, continuation statement or amendment, including whether Pledgor is an organization, the type of organization and any organizational identification number issued to Pledgor.
Pledgor agrees to furnish any such information to Lender promptly upon request. Pledgor also ratifies its authorization for Lender to have filed any initial financing statement or amendments thereto filed prior to the date hereof. 
 (c) From time to time, Pledgor and Debtor shall, at the request of Lender, execute such other agreements, documents or instruments or
take any other actions in connection with this Agreement as Lender may reasonably deem necessary to evidence or perfect the security interests granted herein, to maintain the first priority of the security interests, or to effectuate the rights
granted to Lender herein, but their failure to do so shall not limit or affect any security interest or any other rights of Lender in and to the Collateral. Pledgor will execute and deliver to Lender any stock powers, instructions to any securities
intermediary, issuer or transfer agent, proxies, or any other documents of transfer that Lender requests in order to perfect, obtain control or otherwise protect Lender’s security interest in the Collateral or to effect Lender’s rights
under this Agreement. Such powers or documents may be executed in blank or completed prior to execution, as requested by Lender. 
  

 9 

 (d) This Agreement shall be governed by and construed in accordance with the laws of the
State of New York. To the extent that Lender has greater rights or remedies under federal law, whether as a national bank or otherwise, this paragraph shall not be deemed to deprive Lender of such rights and remedies as may be available under
federal law. 
 (e) Any term used or defined in the UCC and not defined herein has the meaning given to the term in the UCC,
when used in this Agreement. 
 (f) This Agreement shall benefit Lender’s successors and assigns and shall bind
Pledgor’s successors and assigns, except that Pledgor may not assign its rights and obligations under this Agreement. This Agreement shall bind all parties who become bound as a Debtor with respect to the Indebtedness. 
 (g) All rights and remedies herein provided are cumulative and not exclusive of any rights or remedies otherwise provided by law. Any
single or partial exercise of any right or remedy shall not preclude the further exercise of any other right or remedy. 
 (h) In all cases where more than one party executes this Agreement, all words used herein in the singular shall be deemed to have been used in the plural where the context and construction so require, and all obligations and undertakings
hereunder of such parties are joint and several. 
 (i) The illegality, invalidity or unenforceability of any provision of
this Agreement shall not in any way affect or impair the legality, validity or enforceability of the remaining provisions of this Agreement. 
 (j) This Agreement and any other documents executed or delivered in connection herewith constitute the entire agreement of the parties hereto with respect to the subject matter hereof and shall supersede any prior
expressions of intent or understandings with respect to this transaction. 
 18. FINAL AGREEMENT. BY SIGNING THIS DOCUMENT EACH
PARTY REPRESENTS AND AGREES THAT: (A) THIS DOCUMENT REPRESENTS THE FINAL AGREEMENT BETWEEN THE PARTIES WITH RESPECT TO THE SUBJECT MATTER HEREOF, (B) THIS DOCUMENT SUPERSEDES ANY COMMITMENT LETTER, TERM SHEET, OR OTHER WRITTEN OUTLINE OF
TERMS AND CONDITIONS RELATING TO THE SUBJECT MATTER HEREOF, UNLESS SUCH COMMITMENT LETTER, TERM SHEET, OR OTHER WRITTEN OUTLINE OF TERMS AND CONDITIONS EXPRESSLY PROVIDES TO THE CONTRARY, (C) THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE
PARTIES, AND (D) THIS DOCUMENT MAY NOT BE CONTRADICTED BY 
 [INTENTIONALLY LEFT BLANK] 
  

 10 

 EVIDENCE OF ANY PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OR UNDERSTANDINGS OF THE PARTIES.

 The parties duly executed this Agreement as of June 20, 2008 
  

							
		 		 	LENDER:
			
		 		 	BLUE RIDGE INVESTMENTS, L.L.C.
				
		 		 	By:	 	/s/ George C. Carp
				
		 		 	Title:	 	Senior Vice President
		 		 	
		 		 	
		 		 	
	 Pledgor’s Chief Executive Office:
	 		 	PLEDGOR:
			
	22 Cherry Hill Drive	 		 	ABD HOLDING COMPANY, INC.
	Street Address	 		 		 	
		 		 		 	
				
	 Danvers, Massachusetts 01923
	 		 	By:	 	/s/ Michael R. Minogue 6/27/08
	     City            
State             Zip
	 		 		 	
		 		 	Title:	 	Chief Executive Officer
		 		 	
		 		 	
		 		 	
	 Pledgor’s type of organization: Corporation
  
 Pledgor’s state of incorporation or organization (if Pledgor is a corporation, limited partnership, limited liability company or other registered
entity):
	 		 	Pledgor’s organizational identification number if any, assigned by the state of incorporation or organization (If no organizational
identification number has been assigned enter “None”):
	Delaware	 		 	
		 		 		 	
		 		 		 	

  
 Address for Notices to Pledgor: 

22 Cherry Hill Drive 
 Danvers, Massachusetts 01923 
 Attention: Daniel Sutherby, Chief Financial Officer 
 Telephone Number:
978-777-5410 
 Facsimile Number: 978-777-8411 
  

 11 

 Address for Notices to Lender: 
 Blue Ridge Investments, L.L.C. 
 214 N. Tryon Street 
 Charlotte, North Carolina 

	Attention:	George Carp 

	  	Senior Vice President 

	Facsimile:	704-683-4684 

 With a copy of all notices to: 
 Bank of America 
 100 Federal Street 
 Boston, Massachusetts 02110 

	Attention:	Douglas Marshall 

	  	Vice President 

	Facsimile:	617-434-3552 

  

 12 

 Exhibit A to Pledge Agreement 
 Description of Collateral 
 1. All of the accounts specified below (the
“Accounts”): 
 (a) The following listed account(s): 
 (i) Account number(s)/account number(s) 2836-0022364803 –ABD Holding Company Inc. held by Bank of America, N. A. (“Bank of
America”) as agent or custodian for Pledgor under an agreement for custody, safekeeping, investment management, investment advisory or similar services between Pledgor and Bank of America. 
 (b) All successor and replacement accounts, regardless of the numbers of such accounts or the offices at which such accounts are
maintained. 
 (c) Any linked or related accounts or subaccounts held by any affiliate of Bank of America Corporation or any
entity as clearing broker for any of the accounts. 
 2. All rights of Pledgor in connection with the Accounts, including any rights against
any securities intermediary, any such affiliate of Bank of America Corporation or any clearing broker in connection with the Accounts. 
 3.
All investment property, security entitlements, financial assets, certificated securities, uncertificated securities, money, deposit accounts, instruments, certificates of deposit, general intangibles, and all other investments or property of any
sort now or hereafter held, maintained or administered in, or credited to, the Accounts; including, without limitation, all membership and other right, title and interest in and to the Pledgor’s investment in and ownership of Columbia Strategic
Cash Portfolio, a series of Columbia Qualified Purchaser Funds, LLC, a Delaware limited liability company (collectively, the “Interest”) and further including without limitation, (i) Pledgor’s interest in the profits and losses
generated by the Interest, any right to receive distributions therefrom or to make redemptions of such Interest or tender thereof, (ii) all rights, privileges, authority and power of Pledgor as owner and holder of the Interest, including all
contract rights related thereto, (iii) any documents or certificates representing or evidencing the Interest, and (iv) all distributions, cash, instruments and other property from time to time received, receivable or otherwise distributed
in respect of or in exchange for the Interest, in each case, whether now existing or hereafter arising, whether at law or in equity; but excluding collective investment funds managed by Lender, including without limitation, any interest in variable
amount notes, commonly known as “master notes”; and excluding anything construed as real property under applicable state law. 
 4.
All present and future income, proceeds, earnings, increases, and substitutions from or for the Collateral of every kind and nature, including without limitation all payments, interest, profits, distributions, benefits, rights, options, warrants,
dividends, stock dividends, stock splits, stock rights, regulatory dividends, subscriptions, monies, claims for money due and to become due, proceeds of any insurance on the Collateral, shares of stock of different par value or no par value issued
in substitution or exchange for shares included in the Collateral, and all other property Pledgor is entitled to receive on account of such Collateral, including accounts, documents, instruments, chattel paper, and general intangibles. 

5. For the purposes of this Exhibit, if there is more than one Pledgor, the term “Pledgor” shall include any one or more of the Pledgors.

  

 13PROMISSORY NOTE

 Exhibit 10.2 
 LETTER AGREEMENT 
 June 20, 2008 
 ABD Holding Company, Inc. 
 22 Cherry Hill Drive 
 Danvers, Massachusetts 01923 
 Attn: Daniel Sutherby, Chief Financial Officer 
  

	 	Re:	Revolving Line of Credit Facility 

 Ladies and Gentlemen:

 BLUE RIDGE INVESTMENTS, L.L.C. (“Lender”) is pleased to make available to ABD HOLDING COMPANY, INC., a
Delaware corporation (“Borrower”), a line of credit facility on the terms and conditions set forth below and in that certain Promissory Note dated as of even date herewith executed by Borrower in favor of Lender substantially in the
form attached hereto (the “Note”). Terms not defined herein have the meanings assigned to them in the Note). 
  

			
	Commitment:	  	Subject to the terms and conditions set forth herein and in the Note, Lender agrees to make available to Borrower in multiple drawdowns until the Maturity Date one or more loans (each, a
“Loan” and collectively, the “Loans”) in an aggregate principal amount not exceeding Twenty Million Dollars ($20,000,000) (as such amount is reduced in accordance with the requirements of the Note, the
“Commitment”). Within the foregoing limit, Borrower may borrow, repay and reborrow Loans until the Maturity Date up to the Commitment, subject to the conditions set forth herein and in the Note. Borrower may permanently reduce or
terminate the Commitment by giving five days’ written notice to Lender.
		
	Purpose:	  	The loans shall be used for liquidity and working capital purposes.
		
	Interest:	  	Each Loan shall bear interest at the rate(s) of interest described in the Note. Accrued and unpaid interest on each Loan shall be due and payable as set forth in the Note.
		
	Principal:	  	Any redemptions resulting in cash distributions received by Borrower in connection with Borrower’s ownership interest in Columbia Strategic Cash Portfolio, a series of Columbia Qualified
Purchaser Funds, LLC, a Delaware limited liability company (“Columbia Strategic Cash Fund”), shall be applied to reduce the outstanding principal amount of the Loans. The Commitment shall be permanently reduced by the amount of the cash
distribution. With each borrowing request, Borrower shall certify in writing to the Lender that the total borrowings under the Commitment, including the requested Loan, do not exceed 95% of the Borrower’s account value in the Columbia Strategic
Cash Fund, calculated based on the current net asset value of the Borrower’s ownership interest in the Fund (“Borrowing Base”). If at any time the outstanding principal amount of the Loans exceeds the Borrowing Base, the Borrower
shall repay to the Lender the difference between the Borrowing Base and the outstanding principal balance of the Note within ten business days of demand therefor by the

  

 1 

			
		
		  	Lender. For the avoidance of doubt, Lender hereby consents to Borrower’s withdrawal of funds from the Columbia Strategic Cash Fund at any time, whether or not a Loan is outstanding,
subject to the requirements of this section as to Borrowing Base and application of such funds.
		
	Maturity Date:	  	The outstanding principal of each Loan shall be due and payable on the dates set forth in the Note, but no later than the earlier of (i) the next succeeding business day after the date of the
last redemption by Borrower of all of its remaining shares in the Columbia Strategic Cash Fund, or (ii) June 20, 2009 (the “Maturity Date”). Loans may be prepaid as described in the Note.
		
	Guaranty:	  	Indebtedness under the Note shall be guaranteed by Abiomed, Inc., a Delaware corporation and affiliate of the Borrower, pursuant to a guaranty in form and substance satisfactory to the Bank.

		
	Collateral:	  	The obligations and liabilities of Borrower under the Note will be secured by a first priority perfected security interest in Borrower’s ownership interest in the Columbia Strategic Cash
Fund. Collateral will be held in an account with an affiliate of Lender and may only be released as permitted by Lender.
		
	Unused Facility Fee:	  	During the term of this Agreement, Borrower agrees to pay to Lender an Unused Facility Fee based on any difference between the Commitment and the amount of credit actually utilized,
determined by the average of the daily amount of credit outstanding during the applicable monthly period. The fee will be calculated at .25% per year. The Unused Facility Fee is due on the first day of each monthly period thereafter until the
expiration of the availability period or termination of this Agreement.
		
	Financial Reporting Requirements:	  	
Borrower shall provide the following financial information and statements in form and content acceptable to the Lender, and such additional information as requested by the Lender from
time to time. The Lender reserves the right, upon written notice to Borrower, to require Borrower to deliver financial information and statements to the Lender more frequently than otherwise provided below, and to use such additional information and
statements to measure any applicable financial covenants in this Agreement.
		
		  	 (a) Within 120 days of the fiscal year end, financial statements of Borrower and Guarantor, audited (with an opinion satisfactory to the Lender) by a Certified
Public Accountant acceptable to the Lender. The statements shall be prepared on a consolidated basis.

		
		  	 (b) Within 45 days of the end of each quarter end (including the last period in each fiscal year), quarterly financial statements of Borrower and Guarantor,
certified and dated by an authorized financial officer. These financial statements may be prepared by Borrower. The statements shall be prepared on a consolidated basis.

		
	Financial Covenant:	  	Minimum Operating Cash Covenant. Borrower shall maintain Minimum Operating Cash at all times in an amount equivalent to cash operating losses for a

  

 2 

			
		  	four (4) month period. This covenant shall be calculated monthly based upon trailing three-month average Cash operating losses on Borrower’s consolidated statement of operations at
month end. “Cash Operating Losses” means total reported net operating loss per generally accepted accounting principles, inclusive of interest expense, exclusive of the effects during the period of depreciation and amortization,
and stock compensation.
		
	Negative Pledge:	  	During the terms of the Agreement Borrower agrees not to create, assume, or allow any security interest or lien during the term of the Note (including judicial liens) on property Borrower now
or later owns, except:
		
		  	 (a) Liens and security interests in favor of Bank of America.

		
		  	 (b) Liens for taxes not yet due.

		
		  	 (c) Liens outstanding on the date of this Agreement disclosed in writing to the Lender.

		
	Requests for Loans:	  	Any request for a Loan must be received by Lender at the address, telephone number or facsimile number listed below Lender’s signature not later than 11:30 p.m. Boston time, on the date
of the requested Loan (which must be a day on which Lender is open to conduct substantially all of its business). Any request for an advance or paydown shall be made by written notice to the Lender substantially in the form of Form of
Advance/Repayment Notice attached hereto as Exhibit A.
		
	Documentation:	  	The Loans shall be evidenced by the Note. Borrower shall execute and deliver to Lender such other documents evidencing the Loan as Lender may reasonably request from time to
time.
		
	Termination:	  	Borrower may terminate this letter agreement by notice to Lender at any time when there are no Loans outstanding. Upon any such termination, Lender shall return the original Note to Borrower
marked “cancelled”.
		
	Notice:	  	Lender hereby notifies Borrower that pursuant to the requirements of the USA PATRIOT Act (Title III of Pub.L. 107-56 (signed into law October 26, 2001)) (the “Act”), Lender
is required to obtain, verify and record information that identifies Borrower, which information includes the name and address of Borrower and other information that will allow Lender to identify Borrower in accordance with the Act.

  

 3 

 Please indicate your agreement to the foregoing by signing and returning to Lender the enclosed copy of
this letter at the address shown immediately beneath its signature below. 
  

							
		 		 	Very truly yours,
			
	 Address for Lender for Notices of Borrowing:
	 		 	BLUE RIDGE INVESTMENTS, L.L.C.
				
	 Blue Ridge Investments, L.L.C.
	 		 	By	 	 
	 901 Main Street, 22nd Floor
	 		 		 	
	 Dallas, Texas 75202-3714
	 		 	Name	 	 
	 Phone: 214-209-4742
	 		 		 	
	 Fax: 214-290-8387
	 		 	Title	 	 
	 Attention: Judy Schneidmiller
 Judy.l.schneidmiller@bankofamerica.com
	 		 		 	
		 		 		 	
	 Address for Other Notices to Lender:
  
 Blue Ridge Investments, L.L.C.
 214 N. Tryon Street
 Charlotte, North Carolina
 Attention: George Carp
 Senior Vice President
 Facsimile: 704-683-4684
  
 With a copy of all notices to:
  
 Bank of America
 100 Federal Street
 Boston, Massachusetts 02110
 Attention: Douglas Marshall
 Senior Client Manager
	 		 		 	

 Acknowledged and Agreed: 
  

			
	ABD HOLDING COMPANY, INC.
		
	By:	 	 /s/ Michael R. Minogue

			
		
	Name/Title:	 	Chief Executive Officer 6/27/08

 Address for Notices to Borrower: 
 ABD Holding Company, Inc. 
 22 Cherry Hill Drive 
 Danvers, Massachusetts 01023 
 Attention: Chief Financial Officer 
 Telephone: 978-777-5410 
 Facsimile: 978-777-5410 
  

 4 

 GUARANTOR: 
  

			
	ABIOMED, INC.
		
	By:	 	/s/ Michael R. Minogue

			
		
	Name/Title:	 	Chief Executive Officer 6/27/08

 Address for Notices to Borrower: 
 Abiomed, Inc. 
 22 Cherry Hill Drive 
 Danvers, Massachusetts 01023 
 Attention: Chief Financial Officer 
 Telephone: 978-777-5410 
 Facsimile: 978-777-8411 
  

 5 

 EXHIBIT A TO LETTER AGREEMENT 
 FORM OF ADVANCE/REPAYMENT NOTICE 
 Company Letter Head 
  

									
	 Date:
	  		  		  		  	
					
	 From:
	  		  		  		  	
					
	 To:
	  	Judy Schneidmiller	  	CC: Doug Marshall	  	CC: Beverly Boccella	  	
		  	 VP. Senior Operations Consultant
	  		  		  	
		  	 Southwest Operations
	  		  		  	
		  	 Ph: 214-209-4742
	  		  		  	
		  	 Fax: 214-290-8387
	  		  		  	
		  	 judy.l.schneidmiller@bankofamerica.com
	  		  		  	

 Advance/Paydown Request 
 The undersigned (the “Borrower”) [requests an advance] [gives notice of a repayment] of $             under the Loan Agreement dated as of
June     , 2008 between the Borrower and Blue Ridge Investments, L.L.C. The settlement date of such [advance] [repayment] will be
[                    ]. 
 Please
transmit the funds to the following: 
 Account Name: 
 Account Number: 
 Bank Name: 
 ABA Number: 
 The Borrower hereby certifies that: 
 (a) The representations and warranties of the Borrower
contained in the Credit Documents are be true and correct on and as of the date hereof, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct as of such earlier
date. 
 (b) No Default exists or would result from such requested advance or from the application of the proceeds thereof.

 Sincerely, 
  

			
	ABD HOLDING COMPANY, INC.
		
	By:	 	 

			
	Name:	 	
	Title:	 	

  

 6 

 PROMISSORY NOTE 
  

			
	 $20,000,000
	  	June 20, 2008

 FOR VALUE RECEIVED, the undersigned, ABD HOLDING COMPANY, INC., a Delaware corporation
(“Borrower”), hereby promises to pay to the order of BLUE RIDGE INVESTMENTS L.L.C. (“Lender”), at its office as Lender may designate from time to time, in lawful money of the United States of America and in
immediately available funds, the principal amount of Twenty Million Dollars ($20,000,000) or such lesser amount as shall equal the aggregate unpaid principal amount of advances (each a “Loan” and collectively the
“Loans”) made by Lender to Borrower under this Promissory Note (this “Note”), and to pay interest on the unpaid principal amount of the Loans at the rate per annum and on the dates specified below. Loans hereunder
are also subject to the terms and conditions set forth in that certain letter loan agreement dated as of even date herewith between Borrower and Lender (the “Letter Agreement”). Terms not defined herein have the meanings assigned to
them in the Letter Agreement. 
 Borrower may request Loans by irrevocable notice to be given to Lender in accordance with the Letter
Agreement. 
 Each Loan shall bear interest at a rate per year equal to the BBA LIBOR Daily Floating Rate plus 0.25% per annum. The BBA
LIBOR Daily Floating Rate is a fluctuating rate of interest equal to the rate per annum equal to the British Bankers Association LIBOR Rate (“BBA LIBOR”) , as published by Reuters (or other commercially available source providing
quotations of BBA LIBOR as selected by Bank from time to time) as determined for each banking day at approximately 11:00 a.m. London time two (2) London Banking Days prior to the date in question, for U.S. Dollar deposits (for delivery on
the first day of such interest period) with a one month term, as customarily adjusted from time to time in Lender’s reasonable discretion for changes in reserve requirements, deposit insurance assessment rates and other regulatory costs. If
such rate is not available at such time for any reason, then the rate for that interest period will be determined by such alternate method as is reasonably selected by Lender. A “London Banking Day” is a day on which banks in London are
open for business. 
 Interest on the principal of this Note shall be payable on the first of each month commencing on July 1, 2008 and
continuing on the same day of each month thereafter until the indebtedness evidenced hereby is paid in full. Any cash principal distributions received by Borrower in connection with Borrower’s ownership interest in the Columbia Strategic Cash
Fund, shall be applied to reduce the principal balance of this Note. Distributions of interest or earnings on the Columbia Strategic Cash Fund will not be required to be applied to reduce the principal balance of this Note. If, at any time, the
outstanding principal balance of this Note exceeds the Borrower’s account value in the Columbia Strategic Cash Fund based on the calculation described in the Letter Agreement, Borrower shall make a principal payment hereunder equal to the
difference between the account value of the Fund and the outstanding principal of this Note within ten business days of demand therefor by the Lender. The Loans, and all accrued and unpaid interest thereon, shall be due and payable in full on
June 20, 2009. Lender may, if and to the extent any payment is not made when due hereunder, charge from time to time against any or all of Borrower’s accounts with Lender any amount so due. The Loans or any portion thereof may be prepaid
by Borrower at any time without premium or penalty. 
  

 7 

 Each Loan and each payment by Borrower will be evidenced by records kept by the Lender. Interest shall be
computed on the basis of a year of 360 days and the actual days elapsed (including the first day but excluding the last day). Overdue principal and, to the extent permitted by applicable law, interest shall bear interest, payable upon demand, for
each day from and including the due date to but excluding the date of actual payment at a rate per annum 4% higher than the rate of interest otherwise provided under this Note (2% higher than the rate of interest otherwise provided under this Note
if the overdue amount became due solely as a result of a change in the net asset value of the Columbia Strategic Cash Fund). Whenever any payment under this Note is due on a day that is not a day Lender is open to conduct substantially all of its
business, such payment shall be made on the next succeeding day on which Lender is open to conduct substantially all of its business, and such extension of time shall in such case be included in the computation of the payment of interest.

 The date, amount, interest rate, and each payment of principal and interest due on this Note, shall be recorded by Lender on its books,
which record shall, in the absence of manifest error, be conclusive as to such matters; provided, that the failure of Lender to make any such record or any error therein shall not limit or otherwise affect the obligations of Borrower
hereunder. 
 Borrower shall reimburse or compensate Lender, upon demand, for all costs incurred, losses suffered or payments made by Lender
which are applied or reasonably allocated by Lender to the transactions contemplated herein (all as determined by Lender in its reasonable discretion) by reason of any and all future changes in reserve, deposit, capital adequacy or similar
requirements or compliance by Lender with any directive, or requirements from any regulatory authority, whether or not having the force of law, in each case instituted after the date hereof with respect to assets, liabilities or commitments of, or
extensions of credit by, Lender to the extent the foregoing result in a change to Lender of the cost of extending or maintaining the Loans. 
 Borrower hereby waives presentment, protest, demand, or other notice of any kind in connection with this Note. 
 Borrower
represents and warrants to Lender that: (a) it is duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization; (b) the execution, issuance and delivery of the Letter Agreement, this Note and
any other document, agreement or instrument executed and delivered in connection herewith (collectively, the “Loan Documents”) are within its powers and have been duly authorized; (c) each Loan Document is valid, binding and
enforceable in accordance with its terms, is not in violation of law or regulation or of the terms of Borrower’s organizational documents, and does not result in the breach of or constitute a default under any indenture, agreement, instrument
or undertaking to which Borrower is a party or by which it or its property may be bound or affected; (d) the proceeds of the Loans shall be used solely for liquidity and working capital purposes; provided, however, that Borrower
shall not use any part of the proceeds of any Loan to purchase or carry any margin stock within the meaning of Regulation U of the Board of Governors of the Federal Reserve System or to extend credit to others for the purpose of purchasing or
carrying any margin stock; (e) there is no event which is, or with notice or lapse of time or both would be, an Event of Default (as defined below) under this Note; and (f) the person or persons executing any Loan Document on behalf of
Borrower are duly appointed officers or other representatives of Borrower with authority to execute and deliver each Loan Document on behalf of Borrower. 
 The obligation of Lender to make any Loan shall be subject to the condition that, and the request of Borrower for a Loan and the receipt by Borrower of the proceeds thereof shall be deemed a representation and
warranty by Borrower that as of the date of such request and receipt: (a) all 

  

 8 

 
representations and warranties contained in any Loan Document are true and correct and with the same force and effect as though such representations and
warranties had been made on and as of the date of such request and receipt and (b) no Event of Default under this Note exists or would result from the making of the Loan. Before Lender is required to make any Loan under this Note, it must
receive any documents provided for herein and any customary drawdown items it may reasonably require, in form and content acceptable to Lender. It is agreed that opinions of counsel will not be required in connection with any extension of credit
hereunder. 
 Each of the following shall constitute an Event of Default hereunder: (a) Borrower shall fail to pay within two business
days of the date when due any principal of or interest on any Loan; (b) Borrower shall fail to comply with Borrowing Base requirement set forth in the Letter Agreement; (c) any other covenant or agreement in any Loan Document and such
failure continues for 10 business days after written notice thereof is given by Lender to Borrower; (d) an event of default shall occur under the terms of any other indebtedness in excess of Two Million Dollars ($2,000,000) owing to Lender or
any other creditor for which Borrower or any of its subsidiaries is liable, whether as principal obligor, guarantor, or otherwise; (e) any representation, warranty, certification, or statement made or deemed made by Borrower to Lender shall
prove to have been incorrect or misleading in any material respect when made; (f) Borrower shall dissolve, liquidate, or terminate its legal existence or shall convey, transfer, lease, or dispose of (whether in one transaction or a series of
transactions) all or substantially all of its assets to any person or entity; (g) a petition shall be filed by or against Borrower or any of its subsidiaries under any law relating to bankruptcy, reorganization, or insolvency and, in the case
of any such petition filed against Borrower or any of its subsidiaries, shall not have been dismissed within 60 days from the date of filing; or (h) Borrower or any of its subsidiaries shall make an assignment for the benefit of creditors or
fail generally to pay its debts as they become due, or a receiver, trustee, or similar official shall be appointed over Borrower or any of its subsidiaries or a substantial portion of any of their respective assets. If an Event of Default shall have
occurred, Lender may take any one or more of the following actions: (i) terminate the Commitment, (ii) declare the outstanding principal of and accrued and unpaid interest on this Note and the Loans, together with all other amounts payable
under any Loan Document, to be immediately due and payable without presentment, protest, demand, or other notice of any kind, all of which are hereby waived by Borrower and (iii) exercise any rights and remedies it may have under this Note or
any other Loan Document or under applicable law or in equity; provided, however, that upon the occurrence with respect to Borrower of any event specified in clause (g) or (h) of the preceding sentence, the Commitment shall
automatically terminate, and the outstanding principal and accrued and unpaid interest on this Note and the Loans, together with all other amounts payable hereunder, shall become immediately due and payable without presentment, protest, demand, or
other notice of any kind, all of which are hereby waived by Borrower. 
 No failure or delay by Lender in exercising, and no course of
dealing with respect to, any right, power, or privilege hereunder shall operate as a waiver thereof nor shall any single or partial exercise of any right, power, or privilege hereunder preclude any other or further exercise thereof or the exercise
of any other right, power, or privilege. The rights and remedies of Lender provided herein shall be cumulative and not exclusive of any other rights or remedies provided by law. If any provision of this Note shall be held invalid or unenforceable in
whole or in part, such invalidity or unenforceability shall not affect the remaining provisions hereof. Except as set forth herein or therein, no provision of this Note may be modified or waived except by a written instrument signed by Lender and
Borrower. 
 Borrower will indemnify and hold Lender harmless from any losses, liabilities, damages, judgments, and costs of any kind
relating to or arising directly or indirectly out of (a) this Note or any other Loan Document, (b) any credit extended by Lender to Borrower hereunder or the use thereof, (c) any litigation or proceeding related to or arising out of
any Loan Document or any such credit, or (d) failure by Borrower to comply with any law or regulation; provided that such indemnity shall not 

  

 9 

 
(i) encompass any losses, liabilities, damages, judgments or costs related to the Columbia Strategic Cash Fund, (ii) entitle Lender to any payment
with respect to legal fees or other transaction costs (including internal cost allocations) incurred by Lender in order to extend or, other than during the continuance of an Event of Default, maintain the credit provided for hereunder, or
(iii) be available to the extent that such losses, liabilities, damages, judgments or costs (x) are determined by a court of competent jurisdiction by final and nonappealable judgment to have resulted from the gross negligence or willful
misconduct of Lender or (y) result from a claim brought by Borrower against Lender for breach in bad faith of Lender’s obligations hereunder or under any other Loan Document, if Borrower has obtained a final and nonappealable judgment in
its favor on such claim as determined by a court of competent jurisdiction. This indemnity includes but is not limited to attorneys’ fees, except as set forth above. This indemnity extends to Lender, its affiliates and the partners, directors,
officers, employees, agents and advisors of Lender and of Lender’s affiliates. This indemnity will survive repayment of Borrower’s obligations to Lender under this Note and termination of the Commitment. All sums due to Lender pursuant to
this paragraph shall be due and payable upon demand. 
 This Note shall be binding upon Borrower and its successors and assigns and inure to
the benefit of Lender and its successors and assigns, provided, however, that no obligations or rights of Borrower hereunder can be assigned without the prior written consent of Lender. Lender may assign to one or more banks or other
entities all or any part of, or may grant participations to one or more banks or other entities in or to all or any part of, this Note, any other document or agreement executed or delivered in connection herewith or any Loan or Loans hereunder and
its rights and obligations hereunder or thereunder. Borrower agrees that Lender may disclose to any assignee or purchaser, or any prospective assignee or purchaser, any and all information in Lender’s possession concerning Borrower, this Note,
and any security for this Note, provided that the disclosure of any information that is identified by Borrower as material non-public information must be made subject to an acknowledgment by the recipient of the same and the undertaking of such
recipient not to engage in any transaction in securities of Borrower on the basis thereof in violation of applicable law, including Section 10(b) of the Securities and Exchange Act of 1934, as amended, and Rule 10b-5 thereunder. 
 Borrower shall pay on demand all costs and expenses (including reasonable attorneys’ fees and the allocated costs of internal counsel) incurred by
Lender in connection with the enforcement or attempted enforcement of this Note or any Loan Document upon the occurrence of an Event of Default. 
 Notwithstanding the other provisions of this Note, the interest rate will not exceed the maximum rate permitted by federal law or other law applicable to Lender, whichever is higher. If, at any time, the rate of interest, together with all
amounts which constitute interest and which are reserved, charged or taken by Lender as compensation for fees, services or expenses incidental to the making, negotiating or collection of the Loans, shall be deemed by any competent court of law,
governmental agency or tribunal to exceed the maximum rate of interest permitted to be charged by Lender to Borrower under applicable law, then, during such time as such rate of interest would be deemed excessive, that portion of each sum paid
attributable to that portion of such interest rate that exceeds the maximum rate of interest so permitted shall be deemed a voluntary prepayment of principal. As used herein, the term “applicable law” shall mean the law in effect as of the
date hereof; provided, however, that in the event there is a change in the law which results in a higher permissible rate of interest, then this Note shall be governed by such new law as of its effective date. 
 All notices required under this Note shall be in writing and shall be personally delivered or sent by first class mail, postage prepaid, or by overnight
courier, to Borrower or Lender, as the case may be, at its address set forth below, or sent by facsimile to the facsimile number set forth for such party below, or to such other addresses or facsimile numbers as Lender and Borrower may specify from
time to time in writing. Notices and other communications sent by (a) first class mail shall be deemed delivered on the 

  

 10 

 
earlier of actual receipt or on the fourth business day after deposit in the U.S. mail, postage prepaid, (b) overnight courier shall be deemed delivered
on the next business day after deposit with the overnight courier, (c) other methods of hand-delivery (including telegram, lettergram or mailgram) shall be deemed delivered when delivered, and (d) facsimile shall be deemed delivered upon
receipt of confirmation. 
 This Note shall be governed by and construed in accordance with the laws of the State of Massachusetts and the
applicable laws of the United States of America, without regard to principles of conflict of laws. 
 BORROWER IRREVOCABLY AND
UNCONDITIONALLY SUBMITS, FOR ITSELF AND ITS PROPERTY, TO THE NONEXCLUSIVE JURISDICTION OF THE COURTS OF THE STATE OF MASSACHUSETTS SITTING IN SUFFOLK COUNTY AND OF THE UNITED STATES DISTRICT COURT SITTING IN BOSTON, MASSACHUSETTS , AND ANY APPELLATE
COURT FROM ANY THEREOF, IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS NOTE, ANY OTHER DOCUMENT OR INSTRUMENT EXECUTED AND DELIVERED IN CONNECTION HEREWITH OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY, OR FOR RECOGNITION OR
ENFORCEMENT OF ANY JUDGMENT, AND BORROWER IRREVOCABLY AND UNCONDITIONALLY AGREES THAT ALL CLAIMS IN RESPECT OF ANY SUCH ACTION OR PROCEEDING MAY BE HEARD AND DETERMINED IN SUCH MASSACHUSETTS STATE COURT OR, TO THE FULLEST EXTENT PERMITTED BY
APPLICABLE LAW, IN SUCH FEDERAL COURT. EACH OF BORROWER AND LENDER AGREES THAT A FINAL JUDGMENT IN ANY SUCH ACTION OR PROCEEDING SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED
BY LAW. NOTHING IN THIS NOTE SHALL AFFECT ANY RIGHT THAT LENDER MAY OTHERWISE HAVE TO BRING ANY ACTION OR PROCEEDING RELATING TO THIS NOTE, ANY OTHER DOCUMENT OR INSTRUMENT EXECUTED AND DELIVERED IN CONNECTION HEREWITH OR THE TRANSACTIONS
CONTEMPLATED HEREBY OR THEREBY AGAINST BORROWER OR ITS PROPERTIES IN THE COURTS OF ANY JURISDICTION. 
 BORROWER IRREVOCABLY AND
UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY OBJECTION THAT IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS NOTE, ANY OTHER DOCUMENT OR INSTRUMENT
EXECUTED AND DELIVERED IN CONNECTION HEREWITH OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY IN ANY COURT REFERRED TO IN THE IMMEDIATELY PRECEDING PARAGRAPH. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED
BY APPLICABLE LAW, THE DEFENSE OF AN INCONVENIENT FORUM TO THE MAINTENANCE OF SUCH ACTION OR PROCEEDING IN ANY SUCH COURT. 
 BORROWER HERETO
IRREVOCABLY AGREES THAT SERVICE OF PROCESS BY LENDER IN CONNECTION WITH ANY SUCH ACTION OR PROCEEDING SHALL BE BINDING ON BORROWER IF SENT TO BORROWER BY REGISTERED OR CERTIFIED MAIL AT ITS ADDRESS SPECIFIED BELOW OR SUCH OTHER ADDRESS AS FROM TIME
TO TIME NOTIFIED BY BORROWER IN ACCORDANCE WITH THE TERMS HEREOF. NOTHING IN THIS NOTE WILL AFFECT THE RIGHT OF LENDER OR BORROWER TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY APPLICABLE LAW. 
  

 11 

 EACH OF BORROWER AND LENDER HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW,
ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS NOTE, ANY OTHER DOCUMENT OR INSTRUMENT EXECUTED AND DELIVERED IN CONNECTION HEREWITH OR THE TRANSACTIONS CONTEMPLATED HEREBY
OR THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH OF BORROWER AND LENDER (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PERSON WOULD NOT,
IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT HAS BEEN INDUCED TO ENTER INTO OR ACCEPT THIS NOTE BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS PARAGRAPH. 
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 
  

 12 

 THIS NOTE AND ANY OTHER DOCUMENTS EXECUTED IN CONNECTION HEREWITH REPRESENT THE FINAL AGREEMENT BETWEEN
THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES. 
 Borrower has caused this Note to be duly executed as of the date first above written. 
  

							
		 		 	ABD HOLDING COMPANY, INC.
				
		 		 	By:	 	/s/ Michael R. Minogue
				
		 		 	Title:	 	Chief Executive Officer 6/27/08

 Address for Notices: 
 ABD Holding Company, Inc. 
 22 Cherry Hill Drive 
 Danvers, Massachusetts 01023 
 Attention: Chief Financial Officer 

	Telephone:	978-777-5410 

	Facsimile:	978-777-8411 

 Address for Notices to Lender: 
 Address for Lender for Notices of Borrowing: 
 Blue Ridge Investments,
L.L.C. 
 901 Main Street, 22nd Floor 
 Dallas, Texas 75202-3714

 Phone: 214-209-4742 
 Fax: 214-290-8387 
 Attention: Judy Schneidmiller 
 Judy.l.schneidmiller@bankofamerica.com

 Address for Other Notices to Lender: 
 Blue Ridge
Investments, L.L.C. 
 214 N. Tryon Street 
 Charlotte, North
Carolina 
 Attention: George Carp 
 Senior Vice President

 Facsimile: 704-683-4684 
 With a copy of all notices to:

 Bank of America 
 100 Federal Street 
 Boston, Massachusetts 02110 
  

	Attention:	Douglas Marshall 

	  	Senior Client Manager 

  

 13

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00144-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00144-of-00352.parquet"}]]