Document:

exv10w60

Exhibit 10.60

[Midway Games Inc. Letterhead]

M E M O R A N D U M

To: Miguel Iribarren

From: Matthew V. Booty

Date: April 8, 2008

Re: Terms of Your Employment

     This confirms our discussions as follows:

     Although your employment with Midway Games Inc. (“Midway”) will continue to be
“employment at will,” in the event both (i) a Change of Control occurs within
five (5) years after the date of this letter and (ii) within two (2) years
after the Change of Control a Terminating Condition occurs, then you will be
entitled to a severance amount equal to twelve (12) months’ salary following
termination of your employment with Midway. Any such severance amount would be
based upon your base annual salary upon the date of termination and would be
paid to you in normal payroll intervals. Midway’s Board of Directors may, in
its discretion, authorize additional severance.

     For purposes hereof, a “Change of Control” means (a) for any reason an
individual other than myself is installed as Chief Executive Officer of Midway
Games Inc. (the “Company”), (b) the acquisition by any person or group, other
than Permitted Holders, of substantially all the assets of the Company or more
than 50% of the capital stock having the right to vote for the election of the
members of the Board of Directors of the Company, or (c) the consummation of a
business combination involving the Company in which the holders of a majority
of the Company’s outstanding stock immediately prior to the consummation of the
business combination and any Permitted Holders cease to hold a majority of the
outstanding capital stock having the right to vote for the election of the
members of the Board of Directors of the Company or equivalent governing body
of the surviving or resulting entity. For purposes of this definition, the
following are “Permitted Holders”: Sumner M. Redstone, members of his family,
and National Amusements, Inc. and any entities owned or controlled, directly or
indirectly, by them.

     For purposes hereof, a Terminating Condition occurs when either (a) your
employment is terminated by Midway without cause, (b) you give Midway a written
resignation from your employment after, without your consent, the business
facility at which you are required to perform your duties to Midway is
relocated more than fifty (50) miles from the present business location at
which you are performing your duties to Midway, or (c) you give Midway a
written resignation from your employment after, without your consent, either
you are placed in a position with Midway of lesser stature than your present
position with Midway or are assigned duties with Midway inconsistent with such
position or duties which, if performed, would result in a significant
diminution in the nature or scope of powers, authority, functions or duties
inherent in such position on the date hereof or you are assigned by Midway
performance requirements and working conditions which are at variance with the
performance requirements and working conditions in effect on the date hereof,
provided that such assigned duties, performance requirements and/or working
conditions are not associated with your achieving a position of greater
stature, authority and/or responsibility than your present position with
Midway.

     The foregoing supersedes in their entirety any and all severance payment terms
previously offered to you by Midway or its affiliates, whether accepted by you
or otherwise

 

 

* * *

If you agree that this memo accurately reflects our understanding, please so
indicate by signing below.

	 	 	 	 	 
	Accepted and agreed: 

	 	/s/ Miguel Iribarren
 

	 	 
	 

	 	Miguel Iribarren	 	 
	 
	 	 	 	 
	Dated: 

	 	4/10/08EX-4.1

EXHIBIT 4.1

FIRST AMENDMENT AGREEMENT

     This First Amendment Agreement (this “Agreement”) is entered into as of March 2, 2009,
by and among Lehman Brothers Commercial Bank (the “Exiting Lender”), the Lenders party
hereto, Deutsche Bank AG New York Branch, in its capacity as the Administrative Agent under the
Credit Agreement referred to below and Time Warner Cable Inc. (the “Borrower”). Defined
terms in the Credit Agreement (defined below) have the same meanings where used herein, unless
otherwise defined.

RECITALS

     WHEREAS, the Borrower, the Administrative Agent, the lenders party thereto (including the
Exiting Lender) and certain other parties thereto have entered into the Credit Agreement dated as
of June 30, 2008 (as amended, restated, supplemented or otherwise modified, the “Credit
Agreement”);

     WHEREAS the Borrowing of the Loans provided for under the Credit Agreement has not yet
occurred;

     WHEREAS, the Borrower and the Exiting Lender have agreed to terminate the Exiting Lender’s
Commitment and have requested that the Administrative Agent and the other Lenders agree to certain
amendments to the Credit Agreement in connection therewith; and

     WHEREAS, the Administrative Agent and the Lenders party hereto, constituting at least the
Required Lenders, have agreed to such termination and such requested amendments, subject to the
terms and conditions of this Agreement;

     NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which
hereby are acknowledged, the parties hereto hereby agree as follows:

     1. Commitment Termination; Related Adjustments

     (a) Notwithstanding anything to the contrary in Section 2.08 of the Credit Agreement,
on the Effective Date (as defined below) the Tranche I Term Commitment of the Exiting Lender
and the Tranche II Term Commitment of the Exiting Lender (both of which the parties hereto
acknowledge are unused as of the Effective Date) shall each be reduced to zero ($0.00) (the
“Commitment Termination”), without any increase or decrease in the Commitment of any
other Lender.

     (b) Immediately following the Commitment Termination, the Applicable Percentage of the
Exiting Lender shall automatically be reduced to zero percent (0%) and the Applicable
Percentage of each other Lender shall automatically be increased ratably such that the sum
of the Applicable Percentages of Lenders other than the Exiting Lender shall total one
hundred percent (100%).

     (c) From and after the Effective Date, the Exiting Lender shall no longer be a party to
the Credit Documents and shall have no further obligation to fund any amount or

 

 

extend any credit to or for the benefit of the Borrower or its Affiliates pursuant to
the Credit Documents.

     2. Concerning Fees

     (a) The Exiting Lender has been paid the Commitment Fee accrued for its account through
and including December 31, 2008 in accordance with the Credit Agreement.

     (b) Notwithstanding anything to the contrary in the Credit Agreement, the Exiting
Lender shall not be entitled to, and hereby waives, the Commitment Fee accrued for its
account in respect of the average daily amount of its undrawn Commitment during the period
from and including January 1, 2009 to and including the Effective Date.

     3. Agreement on Future Commitments. The Exiting Lender hereby agrees that, following
the Commitment Termination, it shall not acquire any Commitment under the Credit Agreement without
the prior written consent of the Borrower.

     4. Representations and Warranties.

     (a) The Exiting Lender hereby represents and warrants that it is legally authorized to
enter into this Agreement, and this Agreement has been duly executed and delivered by the
Exiting Lender and constitutes its legal, valid and binding obligation, enforceable in
accordance with its terms.

     (b) The Borrower hereby represents and warrants that (i) it is legally authorized to
enter into this Agreement, and this Agreement has been duly executed and delivered by such
Borrower and constitutes its legal, valid and binding obligation, enforceable in accordance
with its terms and (ii) as of the date hereof, no Default or Event of Default has occurred
and is continuing.

     5. Conditions Precedent to Effectiveness. Sections 1, 2 and 3 hereof shall not become
effective until the first date (such date being referred to as the “Effective Date”) on
which each of the following conditions shall have been satisfied:

     (a) the Administrative Agent (or its counsel) shall have received (i) a counterpart of
this Agreement signed on behalf of the Exiting Lender, the Borrower and the Lenders (other
than the Exiting Lender) representing at least the Required Lenders or (ii) evidence
satisfactory to the Administrative Agent (which may include a facsimile transmission) that
each such party has signed a counterpart of this Agreement; and

     (b) the Borrower shall have received from the Exiting Lender on or prior to the
Effective Date an amendment fee in an amount to be agreed upon by the Exiting Lender and the
Borrower.

     6. Mutual Release. The Borrower and the Exiting Lender hereby unconditionally and
irrevocably waive all claims, suits, debts, liens, losses, causes of action, demands, rights,
damages or costs, or expenses of any kind, character or nature whatsoever, known or unknown, fixed
or contingent, which they may have or claim to have against the other or the other’s agents,
employees, officers, affiliates, directors, representatives, attorneys, successors and assigns
(collectively, the “Released Parties”) arising out of or in connection with the Credit
Documents (collectively, the

2

 

“Claims”). The Borrower and the Exiting Lender further agree forever to refrain from
commencing, instituting or prosecuting any lawsuit, action or other proceeding against any Released
Parties with respect to any and all of the foregoing described waived, released, acquitted and
discharged Claims and from exercising any right of recoupment or setoff that it may have under a
master netting agreement or otherwise against any Released Party with respect to Obligations under
the Credit Documents. Each of the Released Parties shall be a third party beneficiary of this
Section 6.

     7. Successors and Assigns. This Agreement shall inure to the benefit of and be
binding upon the successors and permitted assigns of the Exiting Lender, the Lenders and the
Borrower.

     8. Limitation. Each party hereto hereby agrees that this Agreement is not
inconsistent with the terms of the Credit Agreement.

     9. Counterparts. This Agreement may be executed in one or more counterparts, each of
which shall be deemed to be an original, but all of which taken together shall be one and the same
instrument. Delivery of an executed counterpart of a signature page of this Agreement by facsimile
shall be effective as delivery of a manually executed counterpart of this Agreement.

     10. Severability. Any provision of this Agreement held to be invalid, illegal or
unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of
such invalidity, illegality or unenforceability without affecting the validity, legality and
enforceability of the remaining provisions hereof; and the invalidity of a particular provision in
a particular jurisdiction shall not invalidate such provision in any other jurisdiction.

     11. Headings. The paragraph headings used in this Agreement are for convenience only
and shall not affect the interpretation of any of the provisions hereof.

     12. Interpretation. This Agreement shall constitute a Credit Document for the
purposes of the Credit Agreement and the other Credit Documents.

     13. Governing Law; Jurisdiction; Consent to Service of Process.

     (a) This Agreement shall be construed in accordance with and governed by the law of the
State of New York.

     (b) Each party to this Agreement hereby irrevocably and unconditionally submits, for
itself and its property, to the exclusive jurisdiction of the Supreme Court of the State of
New York sitting in New York County and of the United States District Court of the Southern
District of New York, and any appellate court from any thereof, in any action or proceeding
arising out of or relating to this Agreement, or for recognition or enforcement of any
judgment, and each of the parties hereto hereby irrevocably and unconditionally agrees that
all claims in respect of any such action or proceeding shall be heard and determined in such
New York State or, to the extent permitted by law, in such Federal court. Each of the
parties hereto 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.

     (c) Each party to this Agreement hereby irrevocably and unconditionally waives, to the
fullest extent it may legally and effectively do so, any objection which it may now or
hereafter have to the laying of venue of any suit, action or proceeding arising out of or
relating

3

 

to this Agreement in any court referred to in paragraph (b) of this Section 13. Each
of the parties hereto hereby irrevocably waives, to the fullest extent permitted by law, the
defense of an inconvenient forum to the maintenance of such action or proceeding in any such
court.

     (d) Each party to this Agreement irrevocably consents to service of process in the
manner provided for notices in Section 9.01 of the Credit Agreement. Nothing in this
Agreement will affect the right of any party to this Agreement to serve process in any other
manner permitted by law.

     14. WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY 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 AGREEMENT OR THE TRANSACTIONS
CONTEMPLATED HEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO
(A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HERETO HAS REPRESENTED,
EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO
ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN
INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS
IN THIS SECTION 14.

[Signature page follows]

4

 

     IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the
date first written above.

	 	 	 	 	 
	 	LEHMAN BROTHERS COMMERCIAL BANK

 	 
	 	By:  	/s/  Darren
S. Lane 	 
	 	 	Name:  	Darren
S. Lane 	 
	 	 	Title:  	Operations Officer 	 
	 

[SIGNATURE PAGE TO AMENDMENT AGREEMENT]

 

 

	 	 	 	 	 
	 	DEUTSCHE BANK AG NEW YORK BRANCH

as Administrative Agent

 	 
	 	By:  	/s/  Andreas
Neumeier	 
	 	 	Name:  	Andreas
Neumeier 	 
	 	 	Title:  	Managing Director 	 
	 
	 	 	 
	 	By:  	
/s/  Yvonne Tilden	 
	 	 	Name:  	Yvonne Tilden 	 
	 	 	Title:  	Director 	 
	 

[SIGNATURE PAGE TO AMENDMENT AGREEMENT]

 

 

	 	 	 	 	 
	 	TIME WARNER CABLE INC.

as Borrower

 	 
	 	By:  	/s/   Matthew Siegel
 	 
	 	 	Name:  	Matthew Siegel 	 
	 	 	Title:  	Senior Vice President & Treasuer 	 
	 

[SIGNATURE PAGE TO AMENDMENT AGREEMENT]

 

 

	 	 	 	 	 
	 	Bank of America, N.A.

as Lender

 	 
	 	By:  	/s/  Christopher Ray	 
	 	Name:  	Christopher Ray 	 
	 	Title:  	Senior Vice President 	 
	 

SIGNATURE PAGE TO AMENDMENT AGREEMENT

 

 

	 	 	 	 	 
	 	The Bank of Tokyo-Mitsubishi UFJ,
Ltd.,

 	 
	 	By:  	/s/  Jose
Carlos 	 
	 	 	Name:  	Jose Carlos 	 
	 	 	Title:  	Authorized Signatory 	 
	 

[SIGNATURE PAGE TO AMENDMENT AGREEMENT]

 

 

	 	 	 	 	 
	 	BARCLAYS BANK PLC

as Lender 
 	 
	 	By:  	/s/  David
Barton 	 
	 	 	Name:  	David Barton 	 
	 	 	Title:  	Director 	 
	 

[SIGNATURE PAGE TO AMENDMENT AGREEMENT]

 

 

	 	 	 	 	 
	 	BNP Paribas,
as Lender

 	 
	 	By:  	/s/  Berangere
Allen 	 
	 	 	Name:  	Berangere Allen 	 
	 	 	Title:  	Vice President 	 
	 
	 	By:  	/s/  Maria
Bliznakova 	 
	 	 	Name:  	Maria
Blitnakova 	 
	 	 	Title:  	Vice President 	 

[SIGNATURE PAGE TO AMENDMENT AGREEMENT]

 

 

	 	 	 	 	 
	 	Citibank, N.A.,
as Lender

 	 
	 	By:  	/s/  Julio
Ojea-Quintana 	 
	 	 	Name:  	Julio Ojea-Quintana 	 
	 	 	Title:  	Vice President 	 
	 

[SIGNATURE PAGE TO AMENDMENT AGREEMENT]

 

 

	 	 	 	 	 
	 	DEUTSCHE BANK AG NEW YORK BRANCH
as Lender

 	 
	 	By:  	/s/  Andreas
Neumeier 	 
	 	 	Name:  	Andreas
Neumeier 	 
	 	 	Title:  	Managing Director 	 
	 
	 	By:  	/s/  Yvonne
Tilden 	 
	 	 	Name:  	Yvonne Tilden 	 
	 	 	Title:  	Director 	 

[SIGNATURE PAGE TO AMENDMENT AGREEMENT]

 

 

	 	 	 	 	 
	 	Fortis Bank SA/NV, New York
Branch,
as Lender

 	 
	 	By:  	/s/  Barbara
E. Nash 	 
	 	 	Name:  	Barbara E. Nash 	 
	 	 	Title:  	Managing Director & Group Head 	 
	 
	 	By:  	/s/  John
W. Deegan 	 
	 	 	Name:  	John W. Deegan 	 
	 	 	Title:  	Director & Group Head 	 

[SIGNATURE PAGE TO AMENDMENT AGREEMENT]

 

 

	 	 	 	 	 
	 	GOLDMAN SACHS BANK USA
as
Lender

 	 
	 	By:  	/s/  John
Makrinos 	 
	 	 	Name:  	John
Makrinos 	 
	 	 	Title:  	Vice President 	 
	 
	 	 	Name:  	John
Makrinos 	 
	 	 	Title:  	Authorized Signatory 	 

[SIGNATURE PAGE TO AMENDMENT AGREEMENT]

 

 

	 	 	 	 	 
	 	GOLDMAN SACHS CREDIT PARTNERS,
L.P.
as
Lender

 	 
	 	By:  	/s/  John
Makrinos 	 
	 	 	Name:  	John
Makrinos 	 
	 	 	Title:  	Vice President 	 
	 
	 	 	Name:  	John
Makrinos 	 
	 	 	Title:  	Authorized Signatory 	 

[SIGNATURE PAGE TO AMENDMENT AGREEMENT]

 

 

	 	 	 	 	 
	 	MIZUHO CORPORATE BANK, LTD.,
as Lender

 	 
	 	By:  	/s/  Raymond
Ventura 	 
	 	 	Name:  	Raymond
Ventura 	 
	 	 	Title:  	Deputy General Manager 	 
	 

[SIGNATURE PAGE TO AMENDMENT AGREEMENT]

 

 

	 	 	 	 	 
	 	MORGAN STANLEY BANK, N.A.,
as Lender

 	 
	 	By:  	/s/  Melissa
James 	 
	 	 	Name:  	Melissa
James 	 
	 	 	Title:  	Authorized Signatory 	 
	 

[SIGNATURE PAGE TO AMENDMENT AGREEMENT]

 

 

	 	 	 	 	 
	 	The Royal Bank of Scotland plc,
as Lender

 	 
	 	By:  	/s/  Vincent
Fitzgerald 	 
	 	 	Name:  	Vincent
Fitzgerald 	 
	 	 	Title:  	Managing Director 	 
	 

[SIGNATURE PAGE TO AMENDMENT AGREEMENT]

 

 

	 	 	 	 	 
	 	Sumitomo Mitsui Banking
Corporation,
as Lender

 	 
	 	By:  	/s/  Yoshihire
Hyakutome 	 
	 	 	Name:  	Yoshihire Hyakutome 	 
	 	 	Title:  	General Manager 	 
	 

[SIGNATURE PAGE TO AMENDMENT AGREEMENT]

 

 

	 	 	 	 	 
	 	Wachovia Bank, N.A.
as Lender

 	 
	 	By:  	/s/  Joe
Mynatt 	 
	 	 	Name:  	Joe Mynatt 	 
	 	 	Title:  	Director 	 
	 

[SIGNATURE PAGE TO AMENDMENT AGREEMENT]

 

 

The undersigned Guarantors acknowledge and agree
 to the First Amendment Agreement and
confirm that
 all of their obligation under the
Credit Documents
 remain in full force and effect after giving effect
 thereto and the transactions contemplated thereby:

[Signature Page Follows]

 

	 	 	 	 	 
	 	TIME WARNER ENTERTAINMENT
COMPANY, L.P.
as Guarantor

 	 
	 	By:  	/s/  Matthew
Siegel 	 
	 	 	Name:  	Matthew Siegel 	 
	 	 	Title:  	Senior Vice President & Treasurer 	 
	 

 

 

	 	 	 	 	 
	 	TW NY CABLE HOLDING INC.,
as Guarantor

 	 
	 	By:  	/s/  Matthew
Siegel 	 
	 	 	Name:  	Matthew Siegel 	 
	 	 	Title:  	Senior Vice President & Treasurer

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