Document:

exv10w1

Exhibit 10.1

UNSECURED PROMISSORY NOTE

THIS PROMISSORY NOTE PROVIDES FOR A BALLOON PAYMENT

			
	 	 	 
	Principal Sum: $1,000,000
	 	Orange County, California
	 	 	 
	 
	 	September 30, 2010

1. PROMISE TO PAY. For value received, the undersigned (“Maker”) promises to pay to the
Alfonso G. Cordero and Mercy B. Cordero, Trustees of the Cordero Charitable Remainder Trust, or
order (“Holder”), at P.O. Box 546, Zephyr Cove, NV 89448-0516, or at such other place as Holder
may from time to time designate in writing, the principal sum of One Million Dollars
($1,000,000), with interest accruing on the unpaid principal balance of this Note from the date
of this Note until paid at a rate of interest equal to Ten percent (10%) per annum (the “Note
Rate”)

2. TERMS OF PAYMENT. Payments of interest only in the amount of Eight Thousand Three
Hundred Thirty Three and 33/100 Dollars ($8,333.33) shall be made on the first (1st)
day of each calendar month commencing November 1, 2010, and continuing on the first
(1st) day of each month thereafter. On October 1, 2013 (the “Maturity Date”) all
accrued interest and unpaid principal shall be due and payable. All payments shall be made in
lawful money of the United States of America without setoff, deduction or counterclaim of any
kind whatsoever. Maker may prepay this Note in full only on any date without premium or penalty;
not partial prepayments may be made. Any partial payment shall be first applied to accrued
interest, and then principal.

3. DEFAULT. At Holder’s option, without prior notice, and regardless of any prior
forbearance, all sums remaining unpaid under this Note shall become immediately due and payable
upon the occurrence of any of the following events of default (an “Event of Default”): (a)
Maker’s failure to make any payment when due under this Note, or (b) Maker’s failure to perform
any of Maker’s other agreements contained in this Note within ten (10) days after receipt of
written notice from Holder. No delay or omission on Holder’s part in exercising any right under
this Note shall operate as a waiver of that right on any future occasion or of any other rights
under this Note. All rights and remedies of Holder provided in this Note are cumulative and shall
be in addition to all other rights and remedies provided by law.

4. LATE CHARGES. Lender shall be entitled to receive a late charge equal to Four
Hundred Twenty Dollars ($420.00) if any monthly payment due hereunder is not received by the
fifth (5th) day after such payment is due. Such late charges may be assessed
automatically, without the requirement of any prior notice and without waiver of Lender’s right
to accrue interest at the Default Rate, to accelerate the Loan, and/or to pursue any other
default remedy under this Note. Late charges constitute reasonable compensation to Lender for the
additional time and expense of handling and accounting for late payments.

5. DEFAULT RATE. Upon the occurrence of any Event of Default, and so long as such Event
of Default is continuing, then at Holder’s election but without the need for any prior
notification to Maker, interest shall accrue on the outstanding principal balance of the Note,
any reimbursable collection costs, attorneys’ fees, advances to protect security, or other
advances made by Lender, and any other amounts then due under the Note at a rate equal to the
lesser of (a) five percent (5%) in excess of the Note Rate or (b) the maximum rate allowed by law
(the “Default Rate”). Accrual of interest at the Default Rate is designed to compensate Holder
for certain damages caused by such default, including the additional expenses in servicing the
Note, the loss to Holder of the money due, and the frustration to Holder in meeting its other
financial commitments. However, the accrual and payment of interest at the Default Rate shall not
constitute a waiver of Holder’s right to demand an immediate cure of such default or to pursue
any other default remedy.

 

 

6. COSTS AND ATTORNEYS’ FEES. If this Note is not paid when due or if any Event of
Default shall occur or any dispute arise regarding the interpretation of this Note, Maker promises
to pay all costs and expenses, including, without limitation, reasonable attorneys’ fees and legal
costs, incurred by Holder in collecting amounts due under, or in enforcing or interpreting any of
Holder’s rights provided in the terms and conditions of this Note.

7.
SUCCESSORS; JOINT AND SEVERAL LIABILITY; CAPTIONS; MISCELLANEOUS.
The covenants and agreement contained in this Note shall bind the successors and assigns of Maker
and shall inure to the benefit of Holder and its successors and assigns. Diligence, demand, notice,
presentment, notice of dishonor, grace, notice of protest and notice of intent to accelerate the
maturity of this Note are waived by all makers, sureties, guarantors and endorsers of this Note.
This Note shall be the joint and several obligation of all makers and endorsers, and shall be
binding upon them and their heirs, personal representatives, successors, and assigns. The captions
and headings of the paragraphs of this Note are for convenience only and are not to be used to
interpret or define the provisions of this Note. This Note shall be governed by and construed in
accordance with the laws of the State of California.

8. NOTICES. Any notice to Maker provided for in this Note shall be deemed given when
received, if personally delivered, or when mailed by certified mail, return receipt requested,
addressed to Maker at the address stated below, or to any other address as may then appear for
Maker on the records of Holder. Any notice to Holder shall be deemed given when received, if
personally delivered, or when mailed by certified mail, return receipt requested, addressed to
Holder at the address stated in the first paragraph of this Note, or at any other address as may
have been designated by written notice to Maker.

9. INTEREST RATE LIMITATION. If, from any circumstance whatever, the performance or
fulfillment of any provision hereof or of any other agreement between Maker and Holder, at the time
performance or fulfillment of such provision is due, shall involve or purport to require any
payment in excess of the limits prescribed by law, then the obligation to be performed or fulfilled
is hereby reduced to the limit of such validity, and if, from any circumstance whatever, Holder
should ever receive as interest an amount that would exceed the highest lawful rate the amount that
would be excessive interest shall be applied to the reduction of the principal balance owing
hereunder (or, at Holder’s option, be paid over to Maker) and shall not be counted as interest.

10. WAIVER OF JURY TRIAL. MAKER, AFTER CONSULTING OR HAVING HAD THE OPPORTUNITY TO
CONSULT WITH COUNSEL, KNOWINGLY, VOLUNTARILY, AND INTENTIONALLY WAIVES, TO THE FULLEST EXTENT
PERMITTED BY LAW ANY RIGHT THEY MAY HAVE TO A TRIAL BY JURY IN ANY LITIGATION BASED ON OR ARISING
OUT OF THIS AGREEMENT OR INSTRUMENT, OR ANY RELATED INSTRUMENT OR AGREEMENT, OR ANY OF THE
TRANSACTIONS CONTEMPLATED HEREBY OR ANY COURSE OF CONDUCT, DEALING, STATEMENTS, WHETHER ORAL OR
WRITTEN, OR ACTION OF ANY PARTY HERETO. MAKER SHALL NOT SEEK TO CONSOLIDATE BY COUNTERCLAIM OR
OTHERWISE, ANY SUCH ACTION IN WHICH A JURY TRIAL HAS BEEN WAIVED WITH ANY OTHER ACTION IN WHICH A
JURY TRIAL CANNOT BE OR HAS NOT BEEN WAIVED. THESE PROVISIONS SHALL NOT BE DEEMED TO HAVE BEEN
MODIFIED IN ANY RESPECT OR RELINQUISHED BY MAKER EXCEPT BY A WRITTEN INSTRUMENT EXECUTED BY HOLDER
AND MAKER.

-2-

 

     IN WITNESS WHEREOF, Maker has duly executed this Note effective as of the date first above
written.

	 	 	 	 	 
	 	“Maker”

T-3 Motion, Inc., a

Delaware corporation

 	 
	 	By:  	/s/ Ki Y. Nam
 	 
	 	 	Name:  	Ki Y. Nam 	 
	 	 	Title:  	CEO & Chairman of the Board 	 
	 
	 	 	 
	 	By:  	/s/ Kelly Anderson
 	 
	 	 	Name:  	Kelly Anderson 	 
	 	 	Title:  	CFO 	 
	 
	 	 Address for Notices:

2990 Airway Avenue, Suite A 

Costa Mesa, CA 92626

 	 
	 

-3-Exhibit 10.1

Exhibit 10.1

FIRST AMENDMENT TO CREDIT AGREEMENT

THIS FIRST AMENDMENT TO CREDIT AGREEMENT (this “First Amendment”), dated as of January 14,
2011, by and between ULTRALIFE CORPORATION, a Delaware corporation (“Ultralife”), McDOWELL RESEARCH
CO., INC., a Delaware corporation (“McDowell”), REDBLACK COMMUNICATIONS, INC., a Maryland
corporation (“RedBlack Communications”), and ULTRALIFE ENERGY SERVICES CORPORATION, a Florida
corporation (“Ultralife Energy”, and together with Ultralife, McDowell and RedBlack Communications,
each individually a “Borrower” and collectively, the “Borrowers”), and RBS BUSINESS CAPITAL, a
division of RBS Asset Finance, Inc., a New York corporation (the “Lender”).

RECITALS:

The Borrowers and the Lender are parties to a Credit Agreement dated as of February 17, 2010,
as amended by that certain letter agreement dated September 8, 2010 (the “Credit Agreement”),
pursuant to which the Lender has agreed to provide a revolving credit facility in an aggregate
principal amount not to exceed Thirty-Five Million Dollars ($35,000,000) to the Borrowers subject
to the terms and conditions set forth in the Credit Agreement.

By letter agreement dated July 28, 2010, the Lender consented to the name change made by
Stationary Power Services, Inc. to Ultralife Energy Services Corporation.

The Borrowers have requested that the Lender modify pricing under the Credit Agreement and the
Lender is willing to do so upon the terms and subject to the conditions set forth in this First
Amendment.

NOW THEREFORE, the parties to this First Amendment, in consideration of their mutual covenants
and agreements contained in this First Amendment and the Credit Agreement, and intending to be
legally bound hereby, covenant and agree as follows:

1. Definitions. (a) Article 1 “Definitions” of the Credit Agreement is hereby
amended to include the following definitions:

“Excess Availability Average” means, as of the date of determination, a sum
equal to the mathematical average of the weekly average Excess Availability calculated for
each week of the twelve (12) week period ended on the date of determination.

“First Amendment” shall mean the First Amendment to Credit Agreement dated as
of January 14, 2011 between the Borrowers and the Lender.

 

 

 

“First Amendment Closing Date” shall mean on or about January 14, 2011 or, if
all the conditions specified in the First Amendment to Credit Agreement have not been
satisfied or waived by such date, such later date as the Lender and the Borrowers shall
mutually agree.

“Prime Rate Loan” shall mean any loan or advance for which the applicable rate
of interest is based upon the Prime Rate.

“Prime Rate Margin” means, effective as of the date of the First Amendment,
1.0% (100 basis points) per annum.

“Ultralife Energy” means Ultralife Energy Services Corporation, a Florida
corporation formerly known as Stationary Power Services, Inc., with its chief executive
offices located at 4902 113th Avenue North, Clearwater, Florida 33760.

(b) The following definitions contained in Article 1 “Definitions” of the Credit
Agreement are amended and restated in their entirety as follows:

“Borrowers” means, collectively, the following (together with their respective
successors and assigns) (a) Ultralife Corporation, a Delaware corporation; (b) McDowell
Research Co., Inc., a Delaware corporation; (c) RedBlack Communications, Inc., a Maryland
corporation; (d) Ultralife Energy Services Corporation, a Florida corporation formerly known
as Stationary Power Services, Inc.; and (e) any Person that at any time after the date
hereof becomes a Borrower. Each of the Borrowers is sometimes referred to in this Agreement
individually as a “Borrower”.

“LA Margin” means, effective as of the date of the First Amendment, 3.0% (300
basis points) per annum.

“LIBOR Rate Margin” means, effective as of the date of the First Amendment,
3.0% (300 basis points) per annum.

2. Eligible Accounts. Without limiting the current definition in the Credit
Agreement, “Eligible Accounts” under the Credit Agreement shall include an Account arising from a
sale of goods that are delivered or to be delivered outside the United States of America, and an
Account arising from a sale of goods to an account debtor domiciled outside the United States of
America, provided that such Account is subject to credit insurance payable to the Lender and issued
by an insurer and on terms and in an amount satisfactory to the Lender. To initiate advances
against Eligible Accounts under this Section 2, the Borrowers shall deliver to the Lender copies of
its credit insurance policy(ies) together with loss payable endorsements to such policy(ies)
confirming the Lender as loss payee on such credit insurance on terms satisfactory to the Lender.
The terms of this Section 2 replace the terms of that certain letter
agreement dated as of September 8, 2010 pursuant to which the Lender notified the Borrowers of
the foregoing revision to the specifications for Eligible Accounts.

 

 

 

3. Loan Requests/Conversions. Sections 2.04(a) and 2.04(b) of the Credit Agreement
are hereby amended and restated in their entirety to read as follows:

(a) LIBOR Advantage Loan and Prime Rate Loan Requests. By delivering a borrowing
request to the Lender on or before 10:00 a.m., New York time, on a Business Day, the
Administrative Borrower may from time to time irrevocably request, on not less than one nor
more than three Business Days’ notice, that a LIBOR Advantage Loan or a Prime Rate Loan be
made. On the terms and subject to the conditions of this Agreement, each LIBOR Advantage
Loan and Prime Rate Loan shall be made available to the Administrative Borrower no later
than 11:00 a.m. New York time on the day such Loan is made by deposit to the account of the
Administrative Borrower as shall have been specified in its borrowing request.
Notwithstanding the foregoing, the Administrative Borrower may provide the Lender with
written notice (in the form and with information required in this Section 2.04) of any such
borrowing request for a LIBOR Advantage Loan or a Prime Rate Loan by telecopy on the day,
and by mail within one Business Day after the day, any such request is made. The Lender is
entitled to rely on any such request made in accordance with the terms of this Agreement.

(b) Conversion to LIBOR Rate Loans. By delivering a conversion notice to the Lender on
or before 10:00 a.m., New York time, on a Business Day, the Administrative Borrower may from
time to time irrevocably elect, on not less than two nor more than five Business Days’
notice, that all, or any portion, in an aggregate minimum amount of $1,000,000 and integral
multiples of $500,000, of any LIBOR Advantage Loan or Prime Rate Loan be converted on any
day into a LIBOR Rate Loan, with a LIBOR Interest Period of one, two or three months;
provided, however, that no portion of the outstanding principal amount of any LIBOR
Advantage Loan or Prime Rate Loan may be converted to LIBOR Rate Loans when any Event of
Default has occurred and is continuing and provided, further, that all accrued interest on
the principal amount of any LIBOR Advantage Loan or Prime Rate Loan to be converted
hereunder shall be paid in full.

4. Interest Rates. Section 3.01 of the Credit Agreement is hereby amended and
restated in its entirety to read as follows:

(a) Interest on the outstanding principal amount of each Revolving Credit Loan, when
classified as a: (i) LIBOR Rate Loan, shall accrue during each LIBOR Interest Period at a
rate per annum equal to the sum of the Adjusted LIBOR Rate for such LIBOR Interest Period
plus the LIBOR Rate Margin, and be due and payable on each Interest Payment Date and on the
Maturity Date; (ii) LIBOR Advantage Loan, shall accrue at a rate per annum equal to the sum
of the LIBOR Advantage Rate for such LA Interest Period plus the LA Margin, and be due and
payable on each LA Interest Payment Date and on the Maturity Date; and (iii) Prime Rate
Loan, shall accrue at a rate per annum equal to the sum of the Prime Rate plus the Prime
Rate Margin, and be due and
payable on each LA Interest Payment Date and on the Maturity Date. Interest on LIBOR
Advantage Loan(s) and Prime Rate Loans shall be calculated for the actual number of days
elapsed on the basis of a 360-day year, including the first day of the applicable period to,
but not including, the date of repayment. The Borrowers shall not have the option to select
a LIBOR Rate Loan with respect to the Loans to be made on the Closing Date but may
thereafter convert all or any portion to one or more LIBOR Rate Loans in accordance with the
terms of this Article III.

 

 

 

(b) The interest rates under Section 3.01(a) above hereof shall from time to time be
increased or decreased, as the case may be, based on the then applicable Excess Availability
Average and in accordance with the following pricing grid:

	 	 	 	 	 	 	 
	 	 	 	 	LA Margin	 	 
	Excess Availability Average	 	LIBOR Rate Plus	 	Rate Plus	 	Prime Rate Plus
	Greater than $10,000,000

	 	300 basis points
	 	300 basis points
	 	100 basis points
	 
	 	 	 	 	 	 
	Greater than $6,000,000
but less than or equal to
$10,000,000

	 	325 basis points
	 	325 basis points
	 	125 basis points
	 
	 	 	 	 	 	 
	Greater than $3,000,000
but less than or equal to
$6,000,000

	 	350 basis points
	 	350 basis points
	 	150 basis points

The Excess Availability Average shall be determined as of the end of each quarter,
commencing as of the end of the first fiscal quarter following the date of the First
Amendment. The Excess Availability Average as of the end of each fiscal quarter shall be
calculated for the twelve (12) week period then ended and shall be as shown on the
certificates to be delivered pursuant to Section 6.01 hereof. Any interest rate adjustments
made based on the foregoing pricing grid shall be applicable to the Borrowers only for so
long as the applicable Excess Availability Average (as shown on the foregoing pricing grid)
is maintained and, in the event the applicable ratio is no longer maintained, the interest
rates under Section 3.01(b) above shall increase to the rates applicable to the Excess
Availability Average achieved by the Borrowers. Any applicable reduction or increase shall
be effective as of the first Business Day of the month following receipt by the Lender of
the financial statements and certificate showing the Excess Availability Average, provided
that in the event the financial statements and certificates are not timely delivered, any
rate reduction then in effect shall be immediately discontinued as of the day such documents
were due until the first Business Day of the month following receipt by the Lender of proper
documents indicating that a reduction is applicable.

 

 

 

5. Interest After Default. Section 3.02(b) of the Credit Agreement is hereby amended
and restated in its entirety to read as follows:

(b) each other Obligation hereunder if not paid when due shall bear interest at a rate
per annum equal to the sum of the rate of interest applicable to LIBOR Advantage Loans and
Prime Rate Loans plus two percent (2.0%) per annum from the time such Obligation becomes due
and payable and until it is paid in full.

6. Repayments and Interest. Sections 3.10(a) and 3.10(b) of the Credit Agreement are
hereby amended and restated in their entirety to read as follows:

(a) LIBOR Advantage and Prime Rate Loans. Interest on the LIBOR Advantage
Loans and the Prime Rate Loans will be due and payable on each LA Interest Payment Date and
on the Maturity Date.

(b) Repayments Continuations and Conversions. LIBOR Rate Loans shall mature
and become payable in full on the last day of the LIBOR Interest Period relating to such
LIBOR Rate Loan. Upon maturity, a LIBOR Rate Loan may be continued for an additional LIBOR
Interest Period or may be converted to LIBOR Advantage Loan or a Prime Rate Loan.

7. Intercompany Loans. Section 7.04(b) of the Credit Agreement is hereby amended and
restated in its entirety to read as follows:

(b) loans or other advances and/or investments made by Ultralife after the Closing Date
to or in any of the other Borrowers in an aggregate amount not to exceed $3,000,000 at any
one time outstanding.

8. Representations and Warranties. The Borrowers represent and warrant to the Lender
that:

(a) Each of the Borrowers have and will continue to have corporate power and authority
to execute, deliver and perform the provisions of this First Amendment and the Credit
Agreement, as amended hereby, and to execute and deliver the instruments required by any of
the provisions of this First Amendment and the Credit Agreement, as amended hereby, to be
executed and delivered by the Borrowers; and all such action has been duly and validly
authorized by all necessary corporate proceedings on the part of each of the Borrowers.

(b) The execution, delivery and performance of this First Amendment, as amended hereby,
will not conflict with, constitute a default under or result in the breach of, any
provisions of Law or the articles of incorporation or the by-laws of any of the Borrowers or
of any material agreement or other instrument to which any of the Borrowers is a party or by
which it is bound or to which any of them is subject.

 

 

 

(c) This First Amendment has been duly and validly executed and delivered by each of
the Borrowers, and this First Amendment and the Credit Agreement, as amended hereby,
constitute legal, valid and binding obligations of the Borrowers on and after its date of
delivery thereof, enforceable against the Borrowers in accordance with their respective
terms, except to the extent that enforceability of any of this First Amendment and the
Credit Agreement, as amended hereby, may be limited by bankruptcy, insolvency,
reorganization, moratorium or other similar laws affecting the enforceability of creditors’
rights generally or limiting the right of specific performance.

(d) Except as set forth in Section 9 below, the representations and warranties by the
Borrowers contained in Article IV of the Credit Agreement are correct and accurate in all
material respects on and as of the date of this First Amendment with the same effect as
though made on and as of the date of this First Amendment (except representations and
warranties which expressly relate to an earlier date or time, which representations and
warranties shall be true and correct in all material respects on and as of the specific
dates or times referred to therein).

(e) No event has occurred and is continuing which constitutes an Event of Default or
Potential Default.

9. Update to Schedule 4.08. Pursuant to Section 6.01(s) of the Credit Agreement, the
Borrowers hereby submit an update to Schedule 4.08 of the Credit Agreement, attached hereto as
Amended Schedule 4.08, and the Lender hereby accepts the updates reflected on Amended
Schedule 4.08 and waives any Default or Potential Default under the Credit Agreement arising from
such updates.

10. Conditions to this First Amendment. The obligation of the Lender to enter into
this First Amendment is subject to the accuracy in all material respects as of the date of this
First Amendment of the representations and warranties contained in this First Amendment, and to the
satisfaction of the following further conditions:

(a) This First Amendment shall be executed by the Borrowers and delivered to the Lender
and shall be in effect and all actions by the Borrowers contemplated hereby shall have been
taken.

(b) The Lender shall have received a certificate in form and substance satisfactory to
the Lender, dated as of the First Amendment Closing Date, certifying as to the names, true
signatures and incumbency of the officers of the Borrowers to execute this First Amendment
and the other documents and instruments to be executed in connection with this First
Amendment. The Lender may conclusively rely on such certificate unless and until a later
certificate revising the prior certificate has been furnished to the Lender.

(c) Ultralife Energy shall have executed and delivered to the Lender an Amendment to
Security Agreement, satisfactory in terms, form and substance to the
Lender, confirming the change of its name from Stationary Power Services, Inc. to
Ultralife Energy Services Corporation.

 

 

 

(d) No action, proceeding, investigation, regulation or legislation shall have been
instituted, threatened or proposed before any court, governmental agency or legislative body
to enjoin, restrain or prohibit, or to obtain damages in respect of this First Amendment or
the consummation of the transactions contemplated hereby or which, in the Lender’s sole
discretion, would make it inadvisable to consummate the transactions contemplated by this
First Amendment.

11. No Waiver of Existing Defaults. Except as otherwise provided in this First
Amendment, the Lender has not agreed to waive, and have not waived, any past or present Event of
Default or Potential Default under the Credit Agreement, as amended by this First Amendment, or any
of the other Loan Documents. Except as otherwise provided in this First Amendment, the Lender has
not consented to any departure by the Borrowers from their due performance under the Credit
Agreement, as amended by this First Amendment, or under any of the Loan Documents. The rights and
remedies of the Lender under the Credit Agreement, as amended by this First Amendment, and the
other Loan Documents shall survive the execution and delivery of this First Amendment and the
Lender may exercise such rights and remedies with respect to any such defaults at any time.

12. First Amendment Expenses. The Borrowers agree to pay, and save the Lender
harmless against liability for the payment, of all reasonable out-of-pocket expenses of the Lender
arising in connection with this First Amendment including, without limitation, the reasonable fees
and expenses of counsel for the Lender and the expenses of any lien searches or other
investigations conducted for the Lender.

13. Scope of First Amendment. Except as amended by this First Amendment, the
provisions of the Credit Agreement shall remain in full force and effect. The Loan Documents shall
likewise remain in full force and effect. The Credit Agreement and this First Amendment shall be
construed as complementing each other and as augmenting and not restricting the Lender’s rights,
and, except as specifically amended by this First Amendment, the Credit Agreement shall remain in
full force and effect in accordance with its terms. The Borrowers hereby ratify, confirm and
reaffirm, without condition, all Liens and security interests granted to the Lender pursuant to the
Credit Agreement and the Loan Documents, and such Liens and security interests shall continue to
secure the Loan or Loans and the Revolving Credit Loans as defined in each of such agreements.

14. Miscellaneous. This First Amendment will be deemed to be a contract under the
laws of the State of New York and for all purposes will be governed by and construed and enforced
in accordance with the laws of said State. The caption headings contained in this First Amendment
are for convenience of reference and shall not be deemed to be a part of this First Amendment or
used in the construction of this First Amendment.

15. Counterparts. This First Amendment may be executed in counterparts and by the
Lender and the Borrowers on separate counterparts each of which, when so executed, shall be deemed
an original, but all such counterparts shall constitute but one and the same instrument.

[SIGNATURE PAGE FOLLOWS]

 

 

 

IN WITNESS WHEREOF, the parties hereto, by their officers thereunto duly authorized, have
executed this First Amendment as of the day and year first above written.

	 	 	 	 	 
	ATTEST:	 	ULTRALIFE CORPORATION
	 
	 	 	 	 
	/s/ Peter F. Comerford

	 	By:
	 	/s/ Philip A. Fain
	 

	 	 	 	 
	Secretary

	 	 	 	Philip A. Fain, CFO and Treasurer
	 
	 	 	 	 
	[CORPORATE SEAL]
	 	 	 	 
	 
	 	 	 	 
	ATTEST:	 	McDOWELL RESEARCH CO., INC.
	 
	 	 	 	 
	/s/ Peter F. Comerford

	 	By:
	 	/s/ Philip A. Fain
	 

	 	 	 	 
	Secretary

	 	 	 	Philip A. Fain, Treasurer
	 
	 	 	 	 
	[CORPORATE SEAL]
	 	 	 	 
	 
	 	 	 	 
	ATTEST:	 	REDBLACK COMMUNICATIONS, INC.
	 
	 	 	 	 
	/s/ Peter F. Comerford

	 	By:
	 	/s/ Philip A. Fain
	 

	 	 	 	 
	Secretary

	 	 	 	Philip A. Fain, Treasurer
	 
	 	 	 	 
	[CORPORATE SEAL]
	 	 	 	 
	 
	 	 	 	 
	ATTEST:	 	ULTRALIFE ENERGY SERVICES CORPORATION
	 
	 	 	 	 
	/s/ Peter F. Comerford

	 	By:
	 	/s/ Philip A. Fain
	 

	 	 	 	 
	Secretary

	 	 	 	Philip A. Fain, Treasurer
	 
	 	 	 	 
	[CORPORATE SEAL]
	 	 	 	 
	 	 	RBS BUSINESS CAPITAL,

a division of RBS Asset Finance, Inc.
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Paul Rebholz
	 

	 	 	 	 
	 

	 	 	 	Paul Rebholz 

Vice President

 

 

AMENDED SCHEDULE 4.08

OFFICERS AND DIRECTORS

(Updated to January 14, 2011)

Ultralife Corporation

Board of Directors

Bradford T. Whitmore, Chair

Steven M. Anderson

Patricia C. Barron

James A. Croce

Michael D. Popielec

Thomas L. Saeli

Robert W. Shaw II

Ranjit C. Singh

Officers

Michael D. Popielec, President & CEO

Peter F. Comerford, VP Administration, General Counsel & Secretary

Philip A. Fain, CFO & Treasurer

Patrick R. Hanna, Jr., VP Corporate Compliance

Ultralife Batteries (UK) Ltd. (Wholly-Owned Subsidiary)

Directors

Peter F. Comerford

Andrew J. Naukam

ABLE New Energy Co. Limited (Wholly-Owned Subsidiary)

Directors

Xulong Zhang, Chair

David E. Gates

Robert F. Green

ABLE New Energy Co., Ltd (Wholly-Owned by ABLE New Energy Co. Limited)

Directors

Xulong Zhang, Chair

David E. Gates

Robert F. Green

 

 

 

McDowell Research Co., Inc. (Wholly-Owned Subsidiary)

Director

Peter F. Comerford

Officers

James J. Rasmussen, Jr., President

Patrick R. Hanna, Jr., Vice President

Philip A. Fain, Treasurer

Peter F. Comerford, Secretary

RedBlack Communications, Inc. (Wholly-Owned Subsidiary)

Director

Peter F. Comerford

Officers

James J. Rasmussen Jr., President

Gene D. McHugh, Vice President

Peter F. Comerford, Secretary

Philip A. Fain, Treasurer

Ultralife Batteries India Private Limited (Fifty-One Percent Owned Subsidiary)

Directors

Andrew J. Naukam, Chair (Ultralife Designee)

Kenneth R. Bird

B.R. Ganesh

Ultralife Energy Services Corporation (Wholly-Owned Subsidiary)

Director

Peter F. Comerford

Officers

John Christopher McComb, President

Philip A. Fain, Treasurer

Peter F. Comerford, Secretary

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00183-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00183-of-00352.parquet"}]]