Document:

EXHIBIT 10.1

                                  [QUANTA LOGO]

                                            Media Contact:    Sabrena E. Tufts
                                                              441.294.6377

                                            Investor Contact: Jonathan J.R. Dodd
                                                              441.294.6355

                    QUANTA ANNOUNCES BOARD OF DIRECTORS MOVES

HAMILTON, Bermuda--July 26, 2006--Quanta Capital Holdings Ltd. (NASDAQ: QNTA)
announced today that it accepted the resignation of Michael J. Murphy as an
officer, as Deputy Chairman and a member of the Board of Directors. Robert
Lippincott III, the Company's Interim Chief Executive Officer and a director has
been named to fill Mr. Murphy's Board role as Deputy Chairman.

Quanta also announced that the Board of Directors appointed Susan Fleming
Cabrera to the Board. Ms. Cabrera is an executive consultant and educator in the
fields of insurance and corporate finance. She is also an experienced private
equity investor in the insurance industry, serving as a Partner of Capital Z
Financial Services Partners until December 2003. Prior to joining Capital Z,
Mrs. Cabrera served as Vice President of Insurance Partners, L.P. and was an
investment banker in the Mergers and Acquisitions Financial Institutions Group
at Morgan Stanley & Co. Ms. Cabrera is currently a member of the board of
directors of Ceres Group Inc. and previously served on the boards of directors
of PXRE Group, Ltd. and Universal American Financial Group.

James J. Ritchie, the Company's Chairman commented "I welcome Susan to our
Board. Her wealth of insurance finance experience, her excellent analytical
skills and her energy will serve Quanta and its shareholders well. On behalf of
the Board, I am pleased that she agreed to join us."

About Quanta Capital Holdings Ltd.

Quanta Capital Holdings Ltd., a Bermuda holding company, operates its Lloyd's
syndicate in London and its environmental consulting business through
Environmental Strategies Consulting (ESC) in the United States. The Company is
in the process of running off its remaining business lines. The Company
maintains offices in Bermuda, the United Kingdom, Ireland and the United States.

The statements contained in this press release may include forward-looking
statements within the meaning of the federal securities law, which reflect the
Company's current views with respect to future events and financial performance.
Statements which include the words "believes," "expects," "intends,"
"estimates," "projects," "predicts," "assumes," "anticipates," "plans," and
"seeks" and comparable terms of a future or forward-looking nature identify
forward-looking statements in form for purposes of the U.S. federal securities
laws or otherwise. The Company intends these forward-looking statements to be
covered by the safe harbor provisions for forward-looking statements in the
Private Securities Litigation Reform Act of 1995. As forward-looking statements,
these statements involve risks, uncertainties and other factors that could cause
actual results to differ materially from the expected results. These include,
but are not limited to, the Company's ability to effectively implement and
manage the run-off of its business lines; unfavorable claims experience related
to the run-off of the Company's business lines; the effect of a further default
under the Company's credit facility;

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the ability of the Company to pay dividends to the holders of the series A
preferred and common shares; the Company's analysis of its business lines and
internal operations and identification of steps it should take to preserve
shareholder value; the Company's inability to attract, integrate and retain
members of its management team and key employees; implementation of any changes
based on the Company's analysis of its business, the run-off of its business or
any strategic alternatives, which involves substantial uncertainties and risks
that may result in unforeseen expenses and costs; the Company's loss estimates
relating to its exposure to Hurricanes Katrina, Rita and Wilma are preliminary
and the actual amount of losses may vary significantly from its estimates based
on such data; the failure to remedy any weakness found in the Company's
evaluations of controls required by Section 404 of the Sarbanes-Oxley Act of
2002; large aggregate exposures in certain lines of business; the failure of any
of the loss limitation methods; competition; other rating agency actions;
uncertainties in the Company's reserving process; a change in the Company's tax
status; acceptance of the Company's products that the Company continues to
offer; the availability of reinsurance or retrocessional coverage; changes in
accounting policies; changes in general economic conditions; the Company's
limited operating history; risks relating to reliance on program managers; the
Company's inability to maintain or enter into adequate credit facilities and
other factors detailed in the Company's filings with the U.S. Securities and
Exchange Commission. The Company assumes no obligation to update or supplement
forward-looking statements to reflect subsequent events or circumstances.exv10w1

 

SECOND AMENDMENT

Dated as of April 28, 2006

To

SECOND AMENDED AND RESTATED RECEIVABLES LOAN AGREEMENT

     This Second Amendment (the “Amendment”), dated as of April 28, 2006, is entered into among BWA
Receivables Corporation (the “Borrower”), BorgWarner Inc. (“BWI” and in its capacity as Collection
Agent, the “Collection Agent”) Windmill Funding Corporation, a Delaware corporation (“Windmill”),
the Bank listed on the signature page hereof (the “Bank”) and ABN AMRO Bank N.V., as agent for
Windmill, and the Banks (the “Agent”).

     Reference is hereby made to that certain Second Amended and Restated Receivables Loan
Agreement, dated as of December 6, 2004 (as amended, supplemented or otherwise modified through the
date hereof, the “Loan Agreement”), among the Borrower, the Collection Agent, Windmill, the Bank
and the Agent. Terms used herein and not otherwise defined herein which are defined in each
Amended Agreement or the other Transaction Documents (as defined in the Loan Agreement) shall have
the same meaning herein as defined therein.

     For good and valuable consideration, the receipt and adequacy of which are hereby
acknowledged, the parties hereto hereby agree as follows:

     Section 1. Upon execution by the parties hereto in the space provided for that purpose below,
the Loan Agreement shall be, and it hereby is amended as follows:

     (a) The date “April 28, 2006” appearing in clause (iv) of the defined term “Bank Termination
Date” appearing in Article I to the Loan Agreement is deleted and replaced with the date “April 27,
2007.”

     (b) The date “April 28, 2006” appearing in clause (i) of the defined term “Loan Amortization
Date” appearing in Article I of the Loan Agreement is deleted and replaced with the date “April 27,
2007.”

     Section 2. This Amendment shall become effective as of the date first stated above once the
Agent has received executed counterparts hereof from each of the parties hereto.

     Section 3. The Loan Agreement, as amended and supplemented hereby or as contemplated herein,
and all rights and powers created thereby and thereunder or under the other Transaction Documents
(as defined in the Loan

 

Agreement) and all other documents executed in connection therewith, are in all respects ratified
and confirmed. From and after the date hereof, the Loan Agreement shall be amended and
supplemented as herein provided, and, except as so amended and supplemented, the Loan Agreement,
each of the other Transaction Documents and all other documents executed in connection therewith
shall remain in full force and effect.

     Section 4. This Amendment may be executed in two or more counterparts, each of which shall
constitute an original but both or all of which, when taken together, shall constitute but one
instrument.

     Section 5. This Amendment shall be governed and construed in accordance with the laws of the
State of Illinois.

IN WITNESS WHEREOF, the parties have caused this Amendment to be executed and delivered by their
duly authorized officers as of the date first above written.

	 	 	 	 	 
	 	ABN AMRO Bank N.V., as the Agent and as a Bank

 	 
	 	By:  	 	 
	 	Title:  	Kristina Neville, Vice President 	 
	 
	 	BWA RECEIVABLES CORPORATION

 	 
	 	By:  	 	 
	 	Title:  	 	 
	 
	 	BORGWARNER INC.

 	 
	 	By:  	 	 
	 	Title:exv4w1

 

Exhibit 4.1

AMENDMENT TO AMENDED AND RESTATED RIGHTS AGREEMENT

          This
Amendment, dated as of July 27, 2006 (this “Amendment”), amends that certain
Amended and Restated Rights Agreement, dated as of February 5, 2004 (the “Amended and Restated
Rights Agreement”), between Motorola, Inc., a Delaware corporation (the “Company”), and
Mellon Investor Services LLC, a New Jersey limited liability company, as rights agent (the
“Rights Agent”). Except as otherwise expressly provided herein, or unless the context
otherwise requires, all terms used herein have the meanings assigned to them in the Amended and
Restated Rights Agreement.

          WHEREAS, pursuant to Section 26 of the Amended and Restated Rights Agreement, the Board of
Directors (the “Board”) of the Company may, and the Rights Agent shall, if so directed,
from time to time supplement or amend any provision of the Amended and Restated Rights Agreement in
accordance with the provisions of Section 26 thereof;

          WHEREAS, the Board has determined that it is in the best interest of the Company and its
stockholders to amend the Amended and Restated Rights Agreement as set forth herein; and

          WHEREAS, all acts necessary to make this Amendment a valid agreement, enforceable according to
its terms, have been done and performed, and the execution and delivery of this Amendment by the
Company and the Rights Agent have been in all respects duly authorized by the Board and the Rights
Agent.

          NOW, THEREFORE, in consideration of the foregoing and the mutual agreements set forth herein,
and intending to be legally bound, the parties hereto agree as follows:

     A. Amendment of Section 1(s). Section 1(s) of the Amended and Restated Rights
Agreement is hereby amended and supplemented by deleting “‘Expiration Date’ means the Close of
Business on November 20, 2008.” and replacing it with the following:

     "'Expiration Date’ means the Close of Business on August 1, 2006.”

     B. Amendment of Exhibits. The Exhibits to the Amended and Restated Rights Agreement
shall be restated to reflect this Amendment, including all conforming changes.

     C. Effectiveness. This Amendment shall be deemed effective as of the date first
written above, as if executed on such date.

     D. Governing Law. This Amendment shall be deemed to be a contract under the laws of
the State of Delaware and for all purposes shall be governed by and construed in
accordance with the laws of such state applicable to contracts to be made and performed entirely
within such state.

-1-

 

     E. Severability. If any provision, covenant or restriction of this Amendment is held
by a court of competent jurisdiction or other authority to be invalid, illegal or unenforceable,
the remainder of the terms, provisions, covenants and restrictions of this Amendment shall remain
in full force and effect and shall in no way be effected, impaired or invalidated.

     F. Counterparts. This Amendment may be executed in any number of counterparts and
each of such counterparts shall for all purposes be deemed to be an original, and all such
counterparts together constitute but one and the same original.

[Signature page follows.]

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     IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed, as of
the date first set forth above.

	 	 	 	 	 
	 	MOTOROLA, INC.

 	 
	 	By:  	/s/
David W. Devonshire	 
	 	 	Name:  	David W. Devonshire	 
	 	 	Title:  	Executive Vice President and Chief Financial Officer	 
	 
	 	MELLON INVESTOR SERVICES LLC

 	 
	 	By:  	/s/
Thomas Blatchford	 
	 	 	Name:  	Thomas Blatchford	 
	 	 	Title:  	Client Relationship Executive	 
	 

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