Document:

EX-10.10

 Exhibit 10.10 

EXECUTION VERSION 

AMENDED AND RESTATED EMPLOYMENT AGREEMENT 

THIS AMENDED AND RESTATED EMPLOYMENT AGREEMENT (this “Agreement”) between IMC Manager LLC, a Delaware limited liability
company (the “Company”), and Scott Eckman (“Executive”) is dated as of March 27, 2015 (the “Effective Date”). 

WHEREAS, Executive and the Company are party to that certain Employment Agreement, dated as of February 22, 2012 (the “Prior
Agreement”). 
 NOW, THEREFORE, in consideration of the mutual covenants contained herein and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
 1. Employment.
The Company shall employ Executive, and Executive hereby accepts employment with the Company, upon the terms and conditions set forth in this Agreement for the period commencing as of the Effective Date and ending in accordance with paragraph 4
hereof (the “Employment Period”). 
 2. Position and Duties. 

(a) During the Employment Period, Executive shall serve as the Executive Vice President, Marketing and Furniture Leasing of the Company and
shall have the normal duties, responsibilities, functions and authority of the Executive Vice President, Marketing and Furniture Leasing, subject to the power and authority of the Board of Representatives of International Market Centers GP, LLC
(provided that, following the consummation of the contemplated initial public offering of equity securities of International Market Centers, Inc. (“Parent”) pursuant to an offering registered under the Securities Act of 1933,
Executive shall be subject to the power and authority of the Board of Directors of Parent) (such applicable board, the “Board”), in consultation with the Company’s Chief Executive Officer (the “Chief Executive
Officer”), to expand or limit such duties, responsibilities, functions and authority and to overrule actions of officers of the Company. During the Employment Period, Executive shall render to Parent, the Company and their Subsidiaries
administrative, financial and other executive and managerial services that are consistent with Executive’s position as the Executive Vice President, Marketing and Furniture Leasing of the Company, as the Board may from time to time direct. 

(b) Executive shall report to the Chief Executive Officer and the Board, and Executive shall devote his full business time and attention
(except for vacation periods consistent with past practice and the terms of this Agreement and reasonable periods of illness or other incapacity) to the business and affairs of Parent, the Company and their Subsidiaries. In performing his duties and
exercising his authority under the Agreement, Executive shall support and implement the business and strategic plans approved from time to time by the Board and shall support and cooperate with Parent’s, the Company’s and their
Subsidiaries’ efforts to expand their businesses and operate profitably and in conformity with the business and strategic plans approved by the Board. So long as Executive is employed by the Company, Executive shall not, without the prior
written consent of the Board, perform other services for compensation 

 
for the benefit of any Person other than the Company and its Affiliates. Unless otherwise agreed by the parties to this Agreement, Executive’s primary place of work shall (other than travel
reasonably required for Company business) be in the greater High Point, North Carolina metropolitan area; provided, that Executive acknowledges and agrees that Executive’s position will require extensive time spent in the greater Las Vegas,
Nevada metropolitan area, with the time allocated between such areas to be determined by the Board in its sole discretion with consideration to the needs of the business. 

(c) For purposes of this Agreement, “Subsidiaries” means, with respect to any Person, any corporation, partnership, limited
liability company, association, joint venture or other business entity of which more than 50% of the total voting power of shares of stock or other ownership interests entitled (without regard to the occurrence of any contingency) to vote in the
election of the Person (or, in the case of a partnership, limited liability company or other similar entity, control of the general partnership, managing member or similar interests) or Persons (whether directors, managers, trustees or other Persons
performing similar functions) having the power to direct or cause the direction of the management and policies thereof is at the time owned or controlled, directly or indirectly, by that Person or one or more of the other Subsidiaries of that Person
or a combination thereof. 
 (d) For purposes of this Agreement, “Affiliate” of any specified Person means, with respect to
(i) any Person, any other Person directly or indirectly controlling, controlled by or under direct or indirect common control with, such specified Person and (ii) any Person that is a natural Person, the spouse, ancestors or lineal
descendants of such Person, any limited partnership or limited liability company controlled by such Person or such Person’s spouse, ancestors or lineal descendents or in which such Person or such Person’s spouse, ancestors or lineal
descendants holds a majority interest, any trust established for the benefit of any of them and such Person’s estate or legal representative. 

(e) For purposes of this Agreement, “Person” means any natural person, corporation, partnership (whether general or limited),
limited liability company, association, custodian, nominee, trust, estate, joint venture, governmental authority or other individual or entity. 

3. Compensation and Benefits. 

(a) During the Employment Period, Executive’s base salary shall be $385,000 per annum, or such higher amount as determined by the Board
in its discretion, after consultation with the Chief Executive Officer (as adjusted from time to time, the “Base Salary”), which salary shall be payable by the Company in regular installments in accordance with the Company’s
general payroll practices (in effect from time to time). In addition, during the Employment Period, Executive shall be entitled to participate in all of the Company’s retirement, health and welfare employee benefit programs for which senior
management employees of the Company and its Subsidiaries are generally eligible to participate (assuming Executive and/or his dependents meet the eligibility requirements of those benefit programs) (the “Senior Executive Benefits”).

  
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 (b) During the Employment Period, the Company shall reimburse Executive for all reasonable
business expenses incurred by him in the course of performing his duties and responsibilities under this Agreement, which business expenses are consistent with the Company’s policies in effect from time to time with respect to travel (provided
that, in any event, such reimbursement of business expenses for travel shall include the cost of business class airfare, or, with respect to domestic travel, first class airfare if business class is not available), entertainment and other business
expenses, subject to the Company’s requirements with respect to reporting and documentation of such expenses. 
 (c) In addition to the
Base Salary, Executive shall, for each calendar year during the Employment Period, be eligible to earn an annual bonus (“Annual Bonus”) with a targeted amount of $288,750 per year (the “Target Bonus Amount”). The
amount of the Annual Bonus, which may be less than or greater than the Target Bonus Amount, but in no event greater than two (2) times the Target Bonus Amount, will be determined by the Board in its discretion, after consultation with the Chief
Executive Officer, based on all factors it deems relevant, including the Company’s achievement of financial performance for the relevant year and other objectives as agreed between the Board and Executive. An Annual Bonus, if any, will be
earned as of December 31 and will be payable by the Company in the calendar year following the calendar year to which such Annual Bonus relates, in accordance with the Company’s payroll practices in effect from time to time; provided,
that, with respect to any calendar year, the Company will endeavor in good faith to pay any such Annual Bonus no later than March 31 of such following calendar year; it being understood that such payment date may be delayed as necessary for the
Board to obtain and evaluate any financial statements or other information that the Board deems relevant to determine the Annual Bonus. 

(d) During the Employment Period, Executive shall be entitled to four (4) weeks of paid vacation per calendar year (as prorated for
partial years) in accordance with the Company’s policies on accrual and use applicable to employees as in effect from time to time. Vacation may be taken at such times and intervals as the Employee determines, subject to the business needs of
the Company as determined by the Board, after consultation with the Chief Executive Officer; provided, however, that in no event, shall vacation be taken during scheduled “markets” or other major trade shows related to the Company’s
business. 
 4. Term. 

(a) The Employment Period shall be perpetual, until terminated as a result of Executive’s resignation (with or without Good Reason (as
defined below) and which resignation must be accompanied by at least thirty (30) days’ prior written notice), Executive’s death, termination by the Company due to Executive’s Disability (as defined below) or the Company’s
termination of Executive’s employment (whether with Cause (as defined below) or without Cause). 
 (b) If Executive’s employment
hereunder and the Employment Period is terminated (1) by the Company without Cause (2) by Executive for Good Reason or (3) upon Executive’s death or by the Company due to Executive’s Disability, Executive shall be entitled
to payment of (i) his accrued but unpaid Base Salary through the date of termination, (ii) any awarded but unpaid Annual Bonus in respect of a calendar year ended on or prior to the date of

  
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termination, (iii) an amount equal to the sum of twelve (12) months of Executive’s then-current monthly Base Salary plus the amount of Executive’s Target Bonus for the
year in which termination of Executive’s employment occurs. The amount described in clause (iii) of this paragraph 4(b) will become payable to Executive if and only if Executive (or, in the event of Executive’s death, Executive’s
estate) has executed and delivered to the Company, not later than sixty (60) days following the date of termination, an irrevocable general waiver and release of claims in the form provided by the Company to Executive (or, in the event of
Executive’s death, Executive’s estate) after his termination (the “General Release”) and only if Executive (or, in the event of Executive’s death, Executive’s estate) continues to comply with the provisions of
paragraphs 5, 6, 7 and 24 hereof. The amounts payable pursuant to clause (iii) of this paragraph 4(b) shall be payable in regular installments over the twelve (12) month period following the date of termination (the “Severance
Period”) in accordance with the Company’s general payroll practices as in effect on the date of termination, but in no event less frequently than monthly; provided, that no amounts shall be paid to Executive until the first scheduled
payroll date following the date on which the General Release is no longer subject to revocation, with the first such payment being in an amount equal to the total amount to which Executive would otherwise have been entitled during the period
following the date of termination through such payment date if such deferral had not been required; provided, however, that any such amounts that constitute nonqualified deferred compensation within the meaning of Internal Revenue Code
Section 409A and the regulations and guidance promulgated thereunder (“Code Section 409A”) shall not be paid until the 60th day following such termination to the extent necessary to avoid adverse tax consequences under
Code Section 409A, and, if such payments are required to be so deferred, the first payment shall be in an amount equal to the total amount to which Executive would otherwise have been entitled during the period following the date of termination
through such payment date if such deferral had not been required. 
 (c) If Executive’s employment hereunder and the Employment Period
is terminated (1) by the Company for Cause, or (2) by Executive without Good Reason, Executive shall be entitled to receive (i) his accrued but unpaid Base Salary through the date of termination and (ii) any awarded but unpaid
Annual Bonus in respect of a calendar year ended on or prior to the date in which termination occurs. 
 (d) Except as otherwise expressly
provided herein, Executive shall not be entitled to any other salary, bonuses, employee benefits or compensation from the Company or its Subsidiaries after the termination of the Employment Period and all of Executive’s rights to salary,
bonuses, employee benefits and other compensation hereunder which would have accrued or become payable after the termination of the Employment Period (other than vested retirement benefits accrued on or prior to the termination of the Employment
Period or other amounts owing hereunder as of the date of such termination that have not yet been paid) shall cease upon such termination, other than those expressly required under applicable law (including the Consolidated Omnibus Budget
Reconciliation Act of 1985, as amended). 
 (e) Executive is under no obligation to mitigate damages or the amount of any payment provided
for hereunder by seeking other employment or otherwise, and the Company shall have no right of offset for any amounts received by Executive from other employment. 

  
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 (f) The Company may offset any amounts Executive owes to Parent, the Company or any of their
Subsidiaries against any amounts the Company owes Executive hereunder. 
 (g) For purposes of this Agreement, “Cause” shall
mean, with respect to Executive, one or more of the following: (i) commission of, or indictment for, a felony or a crime involving moral turpitude, (ii) commission of an act or omission to act with respect to Parent, the Company or any of
their Subsidiaries or any of their customers or suppliers involving material dishonesty, disloyalty or fraud, (iii) conduct that brings or is reasonably likely to bring Parent, the Company or their Subsidiaries into public disgrace or
disrepute, (iv) repeated failure to perform duties as reasonably directed by the Board or the Chief Executive Officer, (v) gross negligence or willful misconduct with respect to Parent, the Company or any of their Subsidiaries, or
(vi) any breach by Executive of paragraph 5, 6 or 7 of this Agreement or any other material breach of this Agreement or the Management Equity Plans (as defined below). 

(h) Executive shall be deemed “Disabled” only if, as a result of his incapacity due to physical or mental illness, Executive
is considered disabled under the Company’s long-term disability insurance plans. 
 (i) For purposes of this Agreement, “Good
Reason” shall mean if Executive resigns from employment with the Company and, if applicable, its Subsidiaries prior to the end of the Employment Period as a result of the occurrence of one or more of the following events or occurrences
without Executive’s consent: (i) the Company reduces Executive’s Base Salary; (ii) the Company materially and adversely reduces Executive’s job authority or responsibilities; (iii) any material breach by Company of this
Agreement; or (iv) the relocation of Executive’s primary work location to a location more than a fifty (50) mile radius from both the greater Las Vegas, Nevada metropolitan area and the greater High Point, North Carolina metropolitan
area, except for required travel consistent with the terms of this Agreement; provided, that any such reason was not cured by the Company within thirty (30) days after delivery of written notice thereof to the Company; further provided that, in
each case written notice of an Executive’s resignation with Good Reason must be delivered to the Company within thirty (30) days after Executive has actual knowledge of the occurrence of any such event in order for Executive’s
resignation with Good Reason to be effective hereunder. 
 (j) For purposes of this Agreement, “Management Equity Plans”
shall mean the Equity Incentive Plan of International Market Centers, L.P., the Parent 2015 Omnibus Incentive Plan, together with any other incentive equity plan of International Market Centers, L.P., Parent or any of their Subsidiaries under which
Executive receives any equity or equity based award, along with any Award Agreements (as defined therein) and any attachments thereto, as amended from time to time. 

5. Confidential Information. 

(a) Executive acknowledges that the continued success of Parent, the Company and their Subsidiaries and Affiliates, depends upon the use and
protection of a large body of confidential and proprietary information. All of such confidential and proprietary information now existing or to be developed in the future will be referred to in this Agreement as

  
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“Confidential Information”. Confidential Information will be interpreted as broadly as possible to include all information of any sort (whether merely remembered or embodied in a
tangible or intangible form) that is (i) related to Parent’s, the Company’s or their Subsidiaries’ or Affiliates’ current or potential business and (ii) is not generally or publicly known. Confidential Information
includes, without specific limitation, the information, observations and data obtained by Executive from the performance of his duties to the Company and its Affiliates (including services performed prior to the date of this Agreement) concerning
the business and affairs of Parent, the Company and their Subsidiaries and Affiliates, information concerning acquisition opportunities in or reasonably related to the Parent’s, the Company’s or their Subsidiaries’ or Affiliates’
business or industry of which Executive becomes aware during the Employment Period and/or any prior employment with any predecessor of Parent, the Company and/or any of their Subsidiaries, the Persons or entities that are current, former or
prospective suppliers or customers of any one or more of them, as well as development, transition and transformation plans, methodologies and methods of doing business, strategic, marketing and expansion plans, including plans regarding planned and
potential sales, financial and business plans, employee lists and telephone numbers, locations of sales representatives, new and existing programs and services, prices and terms, customer service, integration processes, requirements and costs of
providing service, support and equipment. Accordingly, Executive agrees that during the Employment Period and thereafter, he shall not disclose to any unauthorized Person or use for his own account any Confidential Information without the
Board’s prior written consent, unless and to the extent that any Confidential Information (i) becomes generally known to and available for use by the public other than as a result of Executive’s acts or omissions to act or
(ii) is required to be disclosed pursuant to any applicable law or court order (in which case Executive shall give prior written notice to the Company of such required disclosure, and shall cooperate with Parent, the Company and their
Subsidiaries in any reasonable efforts to limit such disclosure or preserve the confidentiality of any Confidential Information). Executive agrees to deliver to the Company at the end of the Employment Period, or at any other time the Company may
request in writing, all memoranda, notes, plans, records, reports and other property or documents (and copies thereof) relating to the business of Parent, the Company or their Subsidiaries or Affiliates (including, without limitation, all
Confidential Information) that he may then possess or have under his control. 
 (b) During the Employment Period, Executive shall not use
or disclose any confidential information or trade secrets, if any, of any former employers or any other person to whom Executive has an obligation of confidentiality, and shall not bring onto the premises of Parent, the Company or their Subsidiaries
or Affiliates any unpublished documents or any property belonging to any former employer or any other Person to whom Executive has an obligation of confidentiality unless consented to in writing by the former employer or Person. Executive shall use
in the performance of his duties only information that is (i) generally known and used by persons with training and experience comparable to Executive’s and that is (x) common knowledge in the industry or (y) is otherwise legally
in the public domain, (ii) otherwise provided or developed by Parent, the Company or their Subsidiaries or Affiliates or (iii) in the case of materials, property or information belonging to any former employer or other Person to whom
Executive has an obligation of confidentiality, approved for such use in writing by such former employer or Person. If at any time during the Employment Period, Executive believes he is being asked to engage in work that will, or will be likely to,
jeopardize any confidentiality or other obligations Executive may have to former employers, Executive shall immediately advise the Board so that Executive’s duties can be modified appropriately. 

  
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 (c) Executive represents and warrants to the Parent, the Company and their Subsidiaries that
Executive took nothing with him which belonged to any former employer when Executive left his position(s) with such employer(s) and that Executive has nothing that contains any information which belongs to any former employer. If at any time
Executive discovers that this representation is incorrect, Executive shall promptly return any such materials to Executive’s former employer(s). Parent, the Company and their Subsidiaries do not want any such materials, and Executive shall not
be permitted to use or refer to any such materials in the performance of Executive’s duties hereunder. 
 (d) Executive understands
that Parent, the Company and their Subsidiaries and Affiliates will receive from third parties confidential or proprietary information (“Third Party Information”) subject to a duty on Parent’s, the Company’s and their
Subsidiaries’ and Affiliates’ part to maintain the confidentiality of such information and to use it only for certain limited purposes. During the Employment Period and thereafter, and without in any way limiting the provisions of
paragraph 5(a) above, Executive will hold Third Party Information in the strictest confidence and will not disclose to anyone (other than personnel of Parent, the Company or their Subsidiaries and Affiliates who need to know such information in
connection with their work for Parent, the Company or such Subsidiaries and Affiliates) or use, except in connection with his work for Parent, the Company or their Subsidiaries and Affiliates, Third Party Information unless expressly authorized by a
member of the Board in writing. 
 6. Intellectual Property, Inventions and Patents. Executive acknowledges that all discoveries,
concepts, ideas, inventions, innovations, improvements, developments, methods, designs, analyses, drawings, reports, patent applications, copyrightable work and mask work (whether or not including any confidential information) and all registrations
or applications related thereto, all other proprietary information and all similar or related information (whether or not patentable) which relate to Parent’s, the Company’s or any of their Subsidiaries’ actual or anticipated
business, research and development or existing or future products or services and which are conceived, developed or made by Executive (whether alone or jointly with others) while employed by the Company and its Subsidiaries, whether before or after
the date of this Agreement (“Work Product”), belong to Parent, the Company or such Subsidiary. Executive shall promptly disclose such Work Product to the Board and, at the Company’s expense, perform all actions reasonably
requested by the Board (whether during or after the Employment Period) to establish and confirm such ownership (including, without limitation, assignments, consents, powers of attorney and other instruments). 

7. Non-Compete; Non-Solicitation. 

(a) In further consideration of the compensation to be paid to Executive hereunder, Executive acknowledges that during the course of his
employment with the Company and its Subsidiaries he has and shall become familiar with Parent’s, the Company’s and their Subsidiaries’ and Affiliates’ corporate strategy, pricing and other market information, know-how, trade
secrets and valuable customer, supplier and employee relationships, and with other Confidential Information concerning Parent, the Company and their Subsidiaries and Affiliates, 

  
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and that his services have been and shall be of special, unique and extraordinary value to Parent, the Company and their Subsidiaries and Affiliates. Accordingly, Executive agrees that, during
the Employment Period and for twelve (12) months thereafter (the “Restriction Period”), Executive will not directly or indirectly (whether as employee, director, owner, stockholder, consultant, partner (limited or general) or
otherwise) own any interest in, manage, control, participate in, consult with, advertise on behalf of, render services for or in any manner engage in any Competing Business that conducts operations or sales in the United States, or in such other
countries outside the United States where Parent, the Company or their Subsidiaries conduct sales or operations or have taken active steps towards conducting sales or operations as of the date of the Executive’s termination of employment.
Nothing herein shall prohibit Executive from being a passive owner of not more than 2% of the outstanding stock of any class of a corporation which is publicly traded, so long as Executive has no active participation in the business of such
corporation. For purpose of this Agreement, “Competing Business” shall mean any business or enterprise primarily related to the home furnishings trade show business and/or gift trade show business in the United States, including
exhibition space used primarily for home furnishings and/or gifts, but shall not include any other business relating to home furnishings or accessories, including manufacturing of home furnishings or accessories or retail sales of home furnishings
or accessories, in each case so long as such business does not primarily relate to the home furnishings trade show or exhibition and/or gift trade show or exhibition business. 

(b) During the Restriction Period, Executive shall not directly or indirectly through another Person (i) induce or attempt to induce any
employee of Parent, the Company or any Subsidiary to leave the employ of Parent, the Company or such Subsidiary, or in any way interfere with the relationship between Parent, the Company or any Subsidiary and any employee thereof,
(ii) knowingly hire any person who was an employee of Parent, the Company or any Subsidiary at any time during the twelve months prior to the termination of Executive’s employment or (iii) induce or encourage any customer, supplier,
licensee, licensor or other business relation of Parent, the Company or any Subsidiary to cease doing business with Parent, the Company or such Subsidiary, or in any way interfere with the relationship between any such customer, supplier, licensee,
licensor or business relation and Parent, the Company or any Subsidiary (including, without limitation, making any negative or disparaging statements or communications regarding Parent, the Company or their Subsidiaries). 

(c) If, at the time of enforcement of this paragraph 7, a court shall hold that the duration, scope or area restrictions stated herein are
unreasonable under circumstances then existing, the parties agree that the maximum duration, scope or area reasonable under such circumstances shall be substituted for the stated duration, scope or area and that the court shall be allowed to revise
the restrictions contained herein to cover the maximum period, scope and area permitted by law. 
 (d) Executive acknowledges that Executive
has carefully read this Agreement and has given careful consideration to the restraints imposed upon Executive by this Agreement, and is in full accord as to the necessity of such restraints for the reasonable and proper protection of the
Confidential Information, business strategies, employee and customer relationships and goodwill of the Company and its subsidiaries and Affiliates now existing or to be developed in the future. Executive expressly acknowledges and agrees that each
and every restraint imposed by this Agreement is reasonable with respect to subject matter, time period and geographical 

  
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area. Executive further acknowledges that although Executive’s compliance with the covenants contained in Sections 5, 6, or 7 may prevent Executive from earning a livelihood in a business
similar to the business of the Company, Executive’s experience and capabilities are such that Executive has other opportunities to earn a livelihood and adequate means of support for Executive and Executive’s dependents. 

8. Enforcement. Because Executive’s services are unique and because Executive has access to Confidential Information and Work
Product, the parties to agree that Parent, the Company and their Subsidiaries would suffer irreparable harm from a breach or threatened breach of paragraphs 5, 6, 7, or 24 by Executive and that money damages would not be an adequate remedy for any
such breach or threatened breach of this Agreement. In the event of any breach or threatened breach of this Agreement, Parent, the Company and their Subsidiaries in addition to other rights and remedies existing in their favor, shall be entitled to
specific performance and/or injunctive or other equitable relief from a court of competent jurisdiction in order to enforce, or prevent any violations of, the provisions hereof (without posting a bond or other security). In addition, in the event of
an alleged breach of violation by Executive of paragraph 7, the Restriction Period shall be extended automatically by the amount of time between the initial occurrence of the breach or violation and when such breach or violation has been duly cured.

 9. Executive’s Representations. Executive hereby represents and warrants to the Company that (a) the execution, delivery
and performance of this Agreement by Executive do not and shall not conflict with, breach, violate or cause a default under any contract, agreement, instrument, order, judgment or decree to which Executive is a party or by which he is bound,
(b) Executive is not a party to or bound by any employment agreement, noncompete agreement or confidentiality agreement with any other person or entity, (c) upon the execution and delivery of this Agreement by the Company, this Agreement
shall be the valid and binding obligation of Executive, enforceable in accordance with its terms, and (d) Executive is not subject to any pending, or to his knowledge any threatened, lawsuit, action, investigation or proceeding involving
Executive’s prior employment or consulting work or the use of any information or techniques of any former employer or contracting party. Executive hereby acknowledges and represents that he has consulted with independent legal counsel regarding
his rights and obligations under this Agreement and that he fully understands the terms and conditions contained herein. 
 10.
Survival. Paragraphs 4 through 24 shall survive and continue in full force in accordance with their terms notwithstanding the termination of the Employment Period. 

11. Notices. Any notice provided for in this Agreement shall be in writing and shall be either personally delivered, sent by reputable
overnight courier service or mailed by first class mail, return receipt requested, to the recipient at the address below indicated: 

Notices to Executive: 

Scott Eckman 
 443 Plymouth
Avenue 
 Winston Salem, NC 27104 

  
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 Notices to the Company: 

IMC Manager LLC 
 c/o
International Market Centers, Inc. 
 475 S Grand Central Parkway, Suite 1615 

Las Vegas, Nevada 89106 
 Attn:
Board of Representatives 
 With a copy to: 

Bain Capital Partners, LLC 
 200
Clarendon Street 
 Boston, MA 02116 

Attention: Phil Loughlin & Ryan Cotton 

and 
 Kirkland & Ellis
LLP 
 300 N. LaSalle Street 

Chicago, Illinois 60654 

Attention: Jeffrey W. Richards, P.C. 

and 
 Oaktree Capital
Management, L.P. 
 333 S. Grand Avenue, 28th Floor 

Los Angeles, California 90071 

Attention: Scott Graves & Kaj Vazales 

and 
 Paul, Weiss, Rifkind,
Wharton & Garrison LLP 
 1285 Avenue of the Americas 

New York, New York 10019 

Attention: Kenneth M. Schneider 
 or such other
address or to the attention of such other person as the recipient party shall have specified by prior written notice to the sending party. Any notice under this Agreement shall be deemed to have been given when so delivered, sent or mailed. 

12. Severability. Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid
under applicable law, but if any provision of this Agreement is held to be invalid, illegal or unenforceable in any respect under any applicable law or rule in any jurisdiction, such invalidity, illegality or unenforceability shall not affect any
other provision of this Agreement or any action in any other jurisdiction, but this Agreement shall be reformed, construed and enforced in such jurisdiction as if such invalid, illegal or unenforceable provision had never been contained herein. 

  
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 13. Complete Agreement. This Agreement embodies the complete agreement and understanding
among the parties and supersede and preempt any prior understandings, agreements or representations by or among the parties, written or oral, which may have related to the subject matter hereof in any way (including the Prior Agreement). 

14. No Strict Construction. The language used in this Agreement shall be deemed to be the language chosen by the parties hereto to
express their mutual intent, and no rule of strict construction shall be applied against any party. 
 15. Counterparts. This
Agreement may be executed in separate counterparts (including by means of pdf signature page), each of which is deemed to be an original and all of which taken together constitute one and the same agreement. 

16. Successors and Assigns. This Agreement is intended to bind and inure to the benefit of and be enforceable by Executive, the Company
and their representative heirs, successors and assigns, except that Executive may not assign his rights or delegate his duties or obligations hereunder without the prior written consent of the Company. 

17. Choice of Law. All issues and questions concerning the construction, validity, enforcement and interpretation of this Agreement and
the exhibits and schedules hereto shall be governed by, and construed in accordance with, the laws of the State of Delaware, without giving effect to any choice of law or conflict of law rules or provisions (whether of the State of Delaware or any
other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of Delaware. 
 18. Amendment
and Waiver. The provisions of this Agreement may be amended or waived only with the prior written consent of the Company (as approved by the Board) and Executive, and no course of conduct or course of dealing or failure or delay by any party
hereto in enforcing or exercising any of the provisions of this Agreement (including, without limitation, the Company’s right to terminate the Employment Period with or without Cause or, except as otherwise stated herein, Executive’s right
to terminate the Employment Agreement with Good Reason) shall affect the validity, binding effect or enforceability of this Agreement or be deemed to be an implied waiver of any provision of this Agreement. 

19. Insurance. The Company may, at its discretion, apply for and procure in its own name and for its own benefit life and/or disability
insurance on Executive in any amount or amounts considered advisable. Executive agrees to cooperate in any medical or other examination, supply any information and execute and deliver any applications or other instruments in writing as may be
reasonably necessary to obtain and constitute such insurance. 
 20. Tax Matters; Code Section 409A. 

(a) The Company and its respective Subsidiaries shall be entitled to deduct or withhold from any amounts owing from the Company or any of its
Subsidiaries to Executive any federal, state, local or foreign withholding taxes, excise tax, or employment taxes (“Taxes”) 

  
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imposed with respect to Executive’s compensation or other payments from the Company or any of its Subsidiaries or Executive’s ownership interest in Parent or International Market
Centers, L.P. (including, without limitation, wages, bonuses, dividends, the receipt or exercise of equity options and/or the receipt or vesting of restricted equity). In the event the Company or any of its Subsidiaries does not make such deductions
or withholdings, Executive shall indemnify the Company and its Subsidiaries for any amounts paid with respect to any such Taxes, together (if such failure to withhold was at the written direction of Executive) with any interest, penalties and
related expenses thereto. 
 (b) The intent of the parties is that payments and benefits under this Agreement comply with Code
Section 409A and, accordingly, to the maximum extent permitted, this Agreement shall be interpreted to be in compliance therewith. In no event whatsoever shall the Company, or Parent or any of their Subsidiaries be liable for any additional
tax, interest or penalty that may be imposed on the Executive by Code Section 409A or damages for failing to comply with Code Section 409A with respect to this Agreement or otherwise. 

(c) Notwithstanding the foregoing, a termination of employment shall not be deemed to have occurred for purposes of any provision of this
Agreement providing for the payment of any amounts or benefits upon or following a termination of employment unless such termination is also a “separation from service” within the meaning of Code Section 409A and, for purposes of any
such provision of this Agreement, references to a “termination,” “termination of employment” or like terms shall mean “separation from service.” Notwithstanding anything to the contrary in this Agreement, if the
Executive is deemed on the date of termination to be a “specified employee” within the meaning of that term under Code Section 409A(a)(2)(B), then with regard to any payment or the provision of any benefit that is considered
“nonqualified deferred compensation” under Code Section 409A payable on account of a “separation from service,” such payment or benefit shall not be made or provided until the date which is the earlier of (A) the
expiration of the six (6)-month period measured from the date of such “separation from service” of the Executive, and (B) the date of the Executive’s death, to the extent required under Code Section 409A. Upon the expiration
of the foregoing delay period, all payments and benefits delayed pursuant to this Section 19(c) (whether they would have otherwise been payable in a single sum or in installments in the absence of such delay) shall be paid or reimbursed to the
Executive in a lump sum, and any remaining payments and benefits due under this Agreement shall be paid or provided in accordance with the normal payment dates specified for them herein. 

(d) To the extent that reimbursements or other in-kind benefits under this Agreement constitute “nonqualified deferred compensation”
for purposes of Code Section 409A, (A) all such expenses or other reimbursements hereunder shall be made on or prior to the last day of the taxable year following the taxable year in which such expenses were incurred by the Executive,
(B) any right to such reimbursement or in-kind benefits shall not be subject to liquidation or exchange for another benefit, and (C) no such reimbursement, expenses eligible for reimbursement, or in-kind benefits provided in any taxable
year shall in any way affect the expenses eligible for reimbursement, or in-kind benefits to be provided, in any other taxable year. 
 (e)
For purposes of Code Section 409A, the Executive’s right to receive any installment payments pursuant to this Agreement shall be treated as a right to receive a series of 

  
 12 

 
separate and distinct payments. Whenever a payment under this Agreement specifies a payment period with reference to a number of days, the actual date of payment within the specified period shall
be within the sole discretion of the Company. 
 (f) Notwithstanding any other provision of this Agreement to the contrary, in no event
shall any payment under this Agreement that constitutes “nonqualified deferred compensation” for purposes of Code Section 409A be subject to offset by any other amount unless otherwise permitted by Code Section 409A. 

21. Waiver of Jury Trial. AS A SPECIFICALLY BARGAINED FOR INDUCEMENT FOR EACH OF THE PARTIES HERETO TO ENTER INTO THIS AGREEMENT (AFTER
HAVING THE OPPORTUNITY TO CONSULT WITH COUNSEL), EACH PARTY HERETO EXPRESSLY WAIVES THE RIGHT TO TRIAL BY JURY IN ANY LAWSUIT OR PROCEEDING RELATING TO OR ARISING IN ANY WAY FROM THIS AGREEMENT OR THE MATTERS CONTEMPLATED HEREBY. 

22. Corporate Opportunity. Executive shall submit to the Board all business, commercial and investment opportunities or offers
presented to Executive, or of which Executive becomes aware, at any time during the Employment Period, which opportunities relate to the home furnishings trade show business and/or gift trade show business, including exhibition space used primarily
for home furnishings and/or gifts, within or outside of the United States (“Corporate Opportunities”). Unless approved by the Board, Executive shall not accept or pursue, directly or indirectly, any Corporate Opportunities on
Executive’s own behalf. 
 23. Executive’s Cooperation. During the Employment Period and thereafter, Executive shall
reasonably cooperate with Parent, the Company and their Subsidiaries in any internal investigation or administrative, regulatory or judicial proceeding as reasonably requested by Parent, the Company or any Subsidiary (including, without limitation,
Executive being available to Parent, the Company and their Subsidiaries upon reasonable notice for interviews and factual investigations, appearing at Parent’s, the Company’s or any Subsidiary’s request to give truthful and accurate
testimony without requiring service of a subpoena or other legal process, volunteering to Parent, the Company and their Subsidiaries all pertinent information and turning over to Parent, the Company and their Subsidiaries all relevant documents
which are or may come into Executive’s possession, all at times and on schedules that are reasonably consistent with Executive’s other permitted activities and commitments). In the event Parent, the Company or any Subsidiary requires
Executive’s cooperation in accordance with this paragraph, the Company shall pay Executive a per diem reasonably determined by the Board and reimburse Executive for reasonable expenses incurred in connection therewith (including reasonable
transportation, lodging and meals, upon submission of receipts). 
 24. Nondisparagement. Executive agrees that during the Employment
Period and thereafter, he will not, directly or indirectly, publicly or privately, make, publish or solicit, or encourage others to make, publish or solicit, any disparaging statements, comments, announcements, or remarks concerning Parent, the
Company or their Affiliates, or any of their respective past and present directors, officers or employees. 

*    *    *    *    * 

  
 13 

 IN WITNESS WHEREOF, the parties hereto have executed this Amended and Restated Employment
Agreement as of the date first written above. 
  

			
	IMC MANAGER LLC
		
	By:		 /s/ Robert J. Maricich

	Name:		Robert J. Maricich
	Title:		Chief Executive Officer

  

	
	EXECUTIVE
	
	 /s/ Scott Eckman

	Scott Eckmansypr20141231_10k.htm

Exhibit 10.1.1

 

 

JOINDER AND AMENDMENT NO. 1 TO LOAN DOCUMENTS

 

SYPRIS SOLUTIONS, INC. (“Holdings”), SYPRIS TECHNOLOGIES, INC. (“Technologies”), SYPRIS ELECTRONICS, LLC (“Electronics”), SYPRIS DATA SYSTEMS, INC. (“Data Systems”), SYPRIS TECHNOLOGIES MARION, LLC (“Marion”), SYPRIS TECHNOLOGIES KENTON, INC. (“Kenton”), SYPRIS TECHNOLOGIES MEXICAN HOLDINGS, LLC (“Mexican Holdings”), SYPRIS TECHNOLOGIES NORTHERN, INC. (“Northern”), SYPRIS TECHNOLOGIES SOUTHERN, INC. (“Southern”), and SYPRIS TECHNOLOGIES INTERNATIONAL, INC. (“International”) (each a “Borrower”, and collectively the “Borrowers”) and PNC BANK, NATIONAL ASSOCIATION, as Agent (PNC, in such capacity, “Agent”) and Lender, agree as follows effective as of February 10, 2015 (the “Effective Date”): 

 

	
1.
	
Recitals.

 

	 	
1.1
	
As of May 12, 2011, certain of Borrowers, and PNC as Lender and Agent, entered into a Revolving Credit and Security Agreement (as amended, extended, modified, or restated, the “Loan Agreement”). Capitalized terms used herein and not otherwise defined will have the meanings given such terms in the Loan Agreement as amended. The Loan Agreement, the Other Documents, and all related loan and/or security documents related thereto are referred to herein as the “Loan Documents”. 

 

	 	
1.2
	
Technologies has formed each of Northern, Southern, and International as wholly-owned Subsidiaries (together, the “New Subsidiaries”). Accordingly, the New Subsidiaries are hereby joining the Loan Documents as Borrowers pursuant to Section 7.12(a) of the Loan Agreement. In addition, Borrowers, and PNC as Lender and Agent, have agreed to amend the Loan Documents on the terms and subject to the conditions set forth herein. 

 

	
2.
	
Joinder.

 

	 	
2.1
	
As of the Effective Date, each of the New Subsidiaries assumes all the obligations of a “Borrower” under the Loan Agreement and Notes, and agrees that it is a Borrower and bound as a Borrower under the terms of the Loan Agreement and Notes, as if it had been an original signatory to the Loan Agreement and Notes. Each of the New Subsidiaries shall be jointly and severally liable for the Obligations with each of the other Borrowers. All references in the other Loan Documents to a “Borrower”, “Grantor”, “Debtor”, “Loan Party”, “Obligor” or similar terms will include each of the New Subsidiaries, and each of them is hereby made a party to each of such Loan Documents as if it had been an original signatory to the Loan Documents.

 

	 	
2.2
	
Each of the New Subsidiaries hereby assigns, pledges and grants to the Agent a security interest in all of its right, title and interest in and to the Collateral to secure the Obligations. Each of the New Subsidiaries acknowledges that Agent is authorized to file such UCC Financing Statements with respect to the Collateral as it shall determine are necessary or advisable. 

 

	 	
2.3
	
The address for notices to each of the New Subsidiaries under the Loan Agreement shall be the address of the Borrowers set forth in Section 16.6 of the Loan Agreement.

 

 

 

 

 

	
3.
	
Amendment.

 

	 	
3.1
	
Section 1.2 of the Loan Agreement is hereby amended to add the following defined terms in alphabetical order:

 

“Amendment No. 1” shall mean Joinder and Amendment No. 1 to Loan Documents among Borrowers, and PNC as Lender and Agent, effective as of February 10, 2015.

 

“Covered Entity” shall mean (a) each Borrower, each Borrower’s Subsidiaries, all Guarantors, and all pledgors of Collateral, and (b) each Person that, directly or indirectly, is in control of a Person described in clause (a) above. For purposes of this definition, control of a Person shall mean the direct or indirect (x) ownership of, or power to vote, 25% or more of the issued and outstanding equity interests having ordinary voting power for the election of directors of such Person or other Persons performing similar functions for such Person, or (y) power to direct or cause the direction of the management and policies of such Person whether by ownership of equity interests, contract or otherwise.

 

“Excluded Taxes” shall mean, with respect to the Agent, any Lender, Participant, Issuer or any other recipient of any payment to be made by or on account of any Obligations, (a) taxes imposed on or measured by its overall net income (however denominated), and franchise taxes imposed on it (in lieu of net income taxes), by the jurisdiction (or any political subdivision thereof) under the laws of which such recipient is organized or in which its principal office is located or, in the case of any Lender, Participant, or Issuer, in which its applicable lending office is located, (b) any branch profits taxes imposed by the United States of America or any similar tax imposed by any other jurisdiction in which a Borrower is located, (c) in the case of a Foreign Lender, any withholding tax that is imposed on amounts payable to such Foreign Lender at the time such Foreign Lender becomes a party hereto (or designates a new lending office), or is attributable to such Foreign Lender’s failure or inability (other than as a result of a change in Applicable Law) to comply with Section 3.10(e), except to the extent that such Foreign Lender or Participant (or its assignor or seller of a participation, if any) was entitled, at the time of designation of a new lending office (or assignment or sale of a participation), to receive additional amounts from a Borrower with respect to such withholding tax pursuant to Section 3.10(a), and (d) any Taxes imposed on any “withholding payment” payable to such recipient as a result of the failure of such recipient to satisfy the requirements set forth in the FATCA after December 31, 2012. The Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, regulations, guidelines, interpretations or directives thereunder or issued in connection therewith (whether or not having the force of Applicable Law) and all requests, rules, regulations, guidelines, interpretations or directives promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States or foreign regulatory authorities (whether or not having the force of law), in each case pursuant to Basel III, shall in each case be deemed to be a change in Applicable Law regardless of the date enacted, adopted, issued, promulgated or implemented.

 

“Foreign Lender” shall mean any Lender that is organized under the laws of a jurisdiction other than that in which a Borrower is resident for tax purposes. For purposes of this definition, the United States of America, each State thereof and the District of Columbia shall be deemed to constitute a single jurisdiction. 

 

“Indemnified Taxes” shall mean Taxes, other than Excluded Taxes.

 

 

 

 

 

“Other Taxes” shall mean all present or future stamp or documentary Taxes or any other excise or property Taxes, charges or similar levies arising from any payment made hereunder or under any Other Document or from the execution, delivery or enforcement of, or otherwise with respect to, this Agreement or any Other Document.

 

“Reportable Compliance Event” shall mean that any Covered Entity becomes a Sanctioned Person, or is charged by indictment, criminal complaint or similar charging instrument, arraigned, or custodially detained in connection with any Anti-Terrorism Law or any predicate crime to any Anti-Terrorism Law, or has knowledge of facts or circumstances to the effect that it is reasonably likely that any aspect of its operations is in actual or probable violation of any Anti-Terrorism Law.

 

“Sanctioned Country” shall mean a country subject to a sanctions program maintained under any Anti-Terrorism Law. 

 

“Sanctioned Person” shall mean any individual person, group, regime, entity or thing listed or otherwise recognized as a specially designated, prohibited, sanctioned or debarred person, group, regime, entity or thing, or subject to any limitations or prohibitions (including but not limited to the blocking of property or rejection of transactions), under any Anti-Terrorism Law.

 

“Taxes” shall mean all present or future taxes, levies, imposts, duties, deductions, withholdings, assessments, fees or other charges imposed by any Governmental Body, including any interest, additions to tax or penalties applicable thereto.

 

	 	
3.2
	
The defined term “Anti-Terrorism Laws” set forth in Section 1.2 of the Loan Agreement is hereby deleted and replaced with the following:

 

“Anti-Terrorism Law(s)” shall mean any Applicable Law relating to terrorism, trade sanctions programs and embargoes, import/export licensing, money laundering or bribery, and any regulation, order, or directive promulgated, issued or enforced pursuant to such Applicable Law, all as amended, supplemented or replaced from time to time.

 

	 	
3.3
	
The second (2nd) sentence of each of the defined terms “Eligible Finished Goods Inventory”, “Eligible Work-In-Process Inventory”, “Eligible Raw Material Inventory”, and “Eligible Receivables” is hereby deleted.

 

	 	
3.4
	
Subsection (l) of the defined term “Eligible Receivables” set forth in Section 1.2 of the Loan Agreement is hereby deleted and replaced with the following:

 

(l)     such Receivable is subject to any offset, deduction, defense, dispute, or counterclaim, the Customer is also a creditor or supplier of a Borrower or the Receivable is contingent in any respect or for any reason, but only to the extent of any such offset, deduction, defense, or other dispute; provided however, that, unless and until Agent elects to deem Receivables due from Dana or its Affiliates to be ineligible (which election Agent may make in its sole discretion at any time), such Receivables shall not be subject to exclusion based on the existence of a supplier relationship with Dana;

  

 

 

 

 

	 	
3.5
	
The defined term “Eurodollar Rate Loan” set forth in Section 1.2 of the Loan Agreement is hereby deleted and replaced with the following:

 

“Eurodollar Rate Loan” shall mean an Advance at any time that bears interest based on the Eurodollar Rate. Upon and after the effective date of Amendment No. 1, notwithstanding anything to the contrary herein, (i) Lenders shall not make any Advance as a Eurodollar Rate Loan, (ii) no Advance may be converted to or continued as a Eurodollar Rate Loan, and (iii) each outstanding Eurodollar Rate Loan shall be converted to a Domestic Rate Loan on the effective date of Amendment No. 1.

 

	 	
3.6
	
The defined term “FATCA” set forth in Section 1.2 of the Loan Agreement is hereby deleted and replaced with the following:

 

“FATCA” shall mean Sections 1471 through 1474 of the Code, as of the date of this Agreement (or any amended or successor version that is substantively comparable and not materially more onerous to comply with) and any current or future regulations or official interpretations thereof. 

 

	 	
3.7
	
The defined term “Eurodollar Rate” set forth in Section 1.2 of the Loan Agreement is hereby amended to add the following after the last sentence thereof:

 

Notwithstanding the foregoing, if the Eurodollar Rate determined as provided above would be less than zero, the Eurodollar Rate shall be deemed to be zero for purposes of this Agreement.

 

	 	
3.8
	
The defined term “Maximum Revolving Advance Amount” set forth in Section 1.2 of the Loan Agreement is hereby deleted and replaced with the following:

 

“Maximum Revolving Advance Amount” shall mean $25,000,000.

 

	 	
3.9
	
The defined term “Obligations” set forth in Section 1.2 of the Loan Agreement is hereby deleted and replaced with the following:

 

“Obligations” shall mean and include all of the following owing by any Borrower to Lenders or Agent or to any other direct or indirect subsidiary or affiliate of Agent or any Lender, whether direct or indirect (including those acquired by assignment or participation), absolute or contingent, joint or several, due or to become due, now existing or hereafter arising, liquidated or unliquidated, regardless of how they arise or by what agreement or instrument, if any, they may be evidenced: (a) any and all Indebtedness, loans, Advances, debts, liabilities, guaranties, obligations (including all reimbursement obligations and cash collateralization obligations with respect to Letters of Credit), covenants and duties, of any kind or nature, present or future (including any interest or other amounts accruing thereon, any fees accruing under or in connection therewith, any costs and expenses of any Person payable by any Borrower and any indemnification obligations payable by any Borrower arising or payable after maturity, or after the filing of any petition in bankruptcy, or the commencement of any insolvency, reorganization or like proceeding relating to any Borrower, whether or not a claim for post-filing or post-petition interest, fees or other amounts is allowable or allowed in such proceeding), (b) any and all Indebtedness, liabilities, debts or advances arising out of (i) overdrafts, deposit or other accounts, or electronic funds transfers (whether through automated clearing houses or otherwise), (ii) Agent’s or any Lender’s non-receipt of or inability to collect funds or otherwise not being made whole in connection with depository transfer check or other similar arrangements, and (iii) credit cards, credit card processing services, debit cards and stored value cards, commercial or purchasing cards, cash management and treasury management services and products, controlled disbursement accounts or services, lockboxes, and (c) all costs and expenses of Agent and any Lender incurred in the documentation, negotiation, modification, enforcement, collection or otherwise in connection with any of the foregoing, including reasonable attorneys’ fees and expenses.

  

 

 

 

 

	 	
3.10
	
Subsection (g) of the defined term “Permitted Dispositions” set forth in Section 1.2 of the Loan Agreement is hereby deleted and replaced with the following:

 

(g)     reserved; and

 

	 	
3.11
	
Subsection (f) of the defined term “Permitted Investments” set forth in Section 1.2 of the Loan Agreement is hereby deleted and replaced with the following:

 

(f)     investments in or advances of cash and cash equivalents to Subsidiaries of Mexican Holdings, provided that no such investment or advance shall be made or increased after the effective date of Amendment No. 1;

 

	 	
3.12
	
The defined term “Satisfaction Event” set forth in Section 1.2 of the Loan Agreement is hereby deleted and replaced with the following:

 

“Satisfaction Event” shall mean the date upon which all of the Obligations of each Borrower have been indefeasibly paid and performed in full and this Agreement has been terminated.

 

	 	
3.13
	
Section 2.1(b) of the Loan Agreement is hereby deleted and replaced with the following:

 

(b)     Discretionary Rights. The Advance Rates may be increased or decreased by Agent at any time and from time to time in the exercise of its Permitted Discretion. Each Borrower consents to any such increases or decreases and acknowledges that decreasing the Advance Rates or increasing or imposing reserves may limit or restrict Advances requested by Borrowing Agent. The rights of Agent under this subsection are subject to the provisions of Section 16.2(b).

 

	 	
3.14
	
Section 2.2(c) is hereby deleted and replaced with the following:

 

(c)     Reserved.

 

	 	
3.15
	
Section 2.2(d) is hereby deleted and replaced with the following:

 

(d)     Reserved.

 

	 	
3.16
	
Sections 2.2(g), 3.7, and 3.9(a) of the Loan Agreement are each hereby amended to add the following after the last sentence thereof:

 

A change in Applicable Law shall be deemed to occur when, after the Closing Date, any of the following occurs: (i) the adoption or taking effect of any Applicable Law; (ii) any change in any Applicable Law or in the administration, implementation, interpretation or application thereof by any Governmental Body; or (iii) the making or issuance of any request, rule, guideline or directive (whether or not having the force of law) by any Governmental Body; provided that notwithstanding anything herein to the contrary, (x) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, regulations, guidelines, interpretations or directives thereunder or issued in connection therewith (whether or not having the force of Applicable Law) and (y) all requests, rules, regulations, guidelines, interpretations or directives promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States or foreign regulatory authorities (whether or not having the force of law), in each case pursuant to Basel III, shall in each case be deemed to be a change in Applicable Law regardless of the date enacted, adopted, issued, promulgated or implemented.

 

 

 

 

 

	 	
3.17
	
Section 2.24 of the Loan Agreement is hereby deleted and replaced with the following:

 

2.24     Reserved.

 

	 	
3.18
	
Section 3.8 of the Loan Agreement is hereby amended to add the following subsections (c) and (d) immediately following subsection (b):

 

(c) the making, maintenance or funding of any Eurodollar Rate Loan has been made impracticable or unlawful by compliance by Agent or such Lender in good faith with any Applicable Law or any interpretation or application thereof by any Governmental Body or with any request or directive of any such Governmental Body (whether or not having the force of law), or

 

(d) the Eurodollar Rate will not adequately and fairly reflect the cost to such Lender of the establishment or maintenance of any Eurodollar Rate Loan,

 

	 	
3.19
	
Sections 3.10, 3.11 and 3.12 of the Loan Agreement are hereby deleted and replaced with the following:

 

3.10     Taxes.

 

(a)     Any and all payments by or on account of any Obligations hereunder or under any Other Document shall be made free and clear of and without reduction or withholding for any Indemnified Taxes or Other Taxes; provided that if a Borrower shall be required by Applicable Law to deduct any Indemnified Taxes (including any Other Taxes) from such payments, then (i) the sum payable shall be increased as necessary so that after making all required deductions (including deductions applicable to additional sums payable under this Section) the Agent, Lender, Issuer or Participant, as the case may be, receives an amount equal to the sum it would have received had no such deductions been made, (ii)  such Borrower shall make such deduction, and (iii) such Borrower shall timely pay the full amount deducted to the relevant Governmental Body in accordance with Applicable Law.

 

(b)     Without limiting the provisions of Section 3.10(a) above, each Borrower shall timely pay any Other Taxes to the relevant Governmental Body in accordance with Applicable Law. 

 

 

 

 

 

(c)     Borrowers shall indemnify Agent, each Lender, Issuer and any Participant, within thirty (30) days after demand therefor, for the full amount of any Indemnified Taxes or Other Taxes (including Indemnified Taxes or Other Taxes imposed or asserted on or attributable to amounts payable under this Section) paid by Agent, such Lender, Issuer, or such Participant, as the case may be, and any penalties, interest and reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified Taxes or Other Taxes were correctly or legally imposed or asserted by the relevant Governmental Body. A certificate as to the amount of such payment or liability delivered to Borrowers by any Lender, Participant, or the Issuer (with a copy to Agent), or by Agent on its own behalf or on behalf of a Lender or the Issuer, shall be conclusive absent manifest error. 

 

(d)     As soon as practicable after any payment of Indemnified Taxes or Other Taxes by Borrowers to a Governmental Body, Borrowers shall deliver to Agent the original or a certified copy of a receipt issued by such Governmental Body evidencing such payment, a copy of the return reporting such payment or other evidence of such payment reasonably satisfactory to Agent. 

 

(e)     Any Foreign Lender that is entitled to an exemption from or reduction of withholding tax under the law of the jurisdiction in which a Borrower is resident for tax purposes, or under any treaty to which such jurisdiction is a party, with respect to payments hereunder or under any Other Document shall deliver to Borrowers (with a copy to Agent), at the time or times prescribed by Applicable Law or reasonably requested by Borrowers or Agent, such properly completed and executed documentation prescribed by Applicable Law as will permit such payments to be made without withholding or at a reduced rate of withholding. Notwithstanding the submission of such documentation claiming a reduced rate of or exemption from U.S. withholding tax, Agent shall be entitled to withhold United States federal income taxes at the full statutory withholding rate if in its reasonable judgment it is required to do so under the due diligence requirements imposed upon a withholding agent under § 1.1441-7(b) of the United States Income Tax Regulations or other Applicable Law. Further, Agent is indemnified under §1.1461-1(e) of the United States Income Tax Regulations against any claims and demands of any Lender, Issuer or assignee or participant of a Lender or Issuer for the amount of any tax it deducts and withholds in accordance with regulations under §1441 of the Code. In addition, any Lender, if requested by Borrowers or Agent, shall deliver such other documentation prescribed by Applicable Law or reasonably requested by Borrowers or Agent as will enable Borrowers or Agent to determine whether or not such Lender is subject to backup withholding or information reporting requirements. Without limiting the generality of the foregoing, in the event that a Borrower is resident for tax purposes in the United States of America, any Foreign Lender (or other Lender) shall deliver to Borrowers and Agent (in such number of copies specified below or as shall be requested by the recipient) on or prior to the date on which such Foreign Lender (or other Lender) becomes a Lender under this Agreement (and from time to time thereafter upon the request of Borrowers or Agent, but only if such Foreign Lender (or other Lender) is legally entitled to do so), whichever of the following is applicable:

 

(i)       two (2) duly completed valid originals of IRS Form W-8BEN claiming eligibility for benefits of an income tax treaty to which the United States of America is a party,

 

(ii)      two (2) duly completed valid originals of IRS Form W-8ECI, 

 

 

 

 

 

(iii)     in the case of a Foreign Lender claiming the benefits of the exemption for portfolio interest under section 881(c) of the Code, (x) a certificate to the effect that such Foreign Lender is not (A) a “bank” within the meaning of section 881(c)(3)(A) of the Code, (B) a “10 percent shareholder” of a Borrower within the meaning of section 881(c)(3)(B) of the Code, or (C) a “controlled foreign corporation” described in section 881(c)(3)(C) of the Code and (y) two duly completed valid originals of IRS Form W-8BEN, 

 

(iv)     any other form prescribed by Applicable Law as a basis for claiming exemption from or a reduction in United States Federal withholding tax duly completed together with such supplementary documentation as may be prescribed by Applicable Law to permit Borrowers to determine the withholding or deduction required to be made, or 

 

(v)      to the extent that any Lender is not a Foreign Lender, such Lender shall submit to Agent two (2) originals of an IRS Form W-9 or any other form prescribed by Applicable Law demonstrating that such Lender is not a Foreign Lender.

 

(f)     If a payment made to a Lender, Participant, Issuer, or Agent under this Agreement or any Other Document would be subject to U.S. Federal withholding Tax imposed by FATCA if such Person fails to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of the Code, as applicable), such Lender, Participant, Issuer, or Agent shall deliver to the Agent (in the case of a Lender, Participant or Issuer) and Borrowers (A) a certification signed by the chief financial officer, principal accounting officer, treasurer or controller of such Person, and (B) other documentation reasonably requested by the Agent or Borrowers sufficient for Agent and Borrowers to comply with their obligations under FATCA and to determine that such Lender, Participant, Issuer, or Agent has complied with such applicable reporting requirements.

 

	 	
3.20
	
Section 4.10 of the Loan Agreement is hereby deleted and replaced with the following:

 

4.10     Inspection of Premises. At all reasonable times, Agent and each Lender shall have full access to and the right to audit, appraise, check, inspect and make abstracts and copies from each Borrower’s books, records, audits, correspondence and all other papers relating to the Collateral and the operation of each Borrower’s business. Agent, any Lender and their agents may enter upon any premises of any Borrower at any time during business hours and at any other reasonable time, and from time to time, for the purpose of auditing, examining, inspecting or appraising the Collateral and any and all records pertaining thereto and the operation of such Borrower’s business. The cost of all such audits, exams, inspections, and appraisals shall be at the sole expense of Borrowers and Borrowers shall promptly reimburse Agent for any cost expended by Agent in connection therewith. Agent may also charge the foregoing costs to Borrowers’ Account as a Revolving Advance maintained as a Domestic Rate Loan.

 

	 	
3.21
	
Section 5.22 of the Loan Agreement is hereby deleted and replaced with the following:

 

5.22     Reserved.

 

	 	
3.22
	
Section 5.23 of the Loan Agreement is hereby deleted and replaced with the following:

 

5.23     Reserved.

 

 

 

 

 

	 	
3.23
	
Article 6 of the Loan Agreement is hereby amended to add the following Section 6.9:

 

6.9     Consultant. Continue to employ a third-party consultant reasonably acceptable to Agent (the "Consultant") on terms and conditions reasonably satisfactory to Agent.  Each of the Borrowers shall at all times cause the Consultant to perform the scope of work set forth in the engagement agreement between Holdings and Huron Consulting Services LLC dated February 8, 2015 and to otherwise cooperate with Agent by responding to Agent’s reasonable requests for information relating to Borrowers, and providing Agent with the Consultant's analysis regarding Borrowers.  Each Borrower hereby consents to Agent contacting the Consultant directly with respect to the foregoing, and hereby agrees that such communications shall not be restricted; provided, that Agent shall not have the right to direct the actions of the Consultant or to otherwise exercise any control over the Consultant.  All fees and expenses of the Consultant shall be solely the responsibility of Borrowers, and in no event shall Agent have any liability or responsibility for the payment of the Consultant's fees or expenses or other liability to Borrowers, the Consultant or any other Person on account of or in connection with any services rendered by or any acts or omissions of the Consultant.

 

	 	
3.24
	
Article 6 of the Loan Agreement is hereby amended to add the following Section 6.10:

 

6.10     Collateral Access Agreements. Commencing thirty (30) days after the effective date of Amendment No. 1 and continuing thereafter, Borrowers shall obtain Collateral Access Agreements: (a) with respect to each leased property at which Inventory with a value in excess of $50,000 is or will be located; and (b) with respect to each processor which has or will have possession of Inventory with a value in excess of $50,000.

 

	 	
3.25
	
Section 7.7 of the Loan Agreement is hereby deleted and replaced with the following

 

7.7     Dividends. Declare, pay or make any dividend or distribution on any shares of the Equity Interests of Holdings (other than dividends or distributions payable in its stock, or split-ups or reclassifications of its stock) or apply any of its funds, property or assets to the purchase, redemption or other retirement of any Equity Interests, or of any options to purchase or acquire any such Equity Interests of Holdings.

 

	 	
3.26
	
Clause (d) of Section 7.10 of the Loan Agreement is hereby deleted and replaced with the following:

 

(d) transfers of cash or cash equivalents not in excess of $1,500,000 in the aggregate during any fiscal year to Sypris Europe ApS; provided that, notwithstanding anything to the contrary herein, no such transfers shall be made after the effective date of Amendment No. 1,

 

	 	
3.27
	
Clause (e) of Section 7.10 of the Loan Agreement is hereby deleted and replaced with the following:

 

(e) the Mexican Loan; provided that, notwithstanding anything to the contrary herein, the payment of any principal, interest or taxes with respect thereto shall not be permitted after the effective date of Amendment No. 1. 

 

 

 

 

 

	 	
3.28
	
Section 7.18 of the Loan Agreement is hereby deleted and replaced with the following:

 

7.18     Reserved.

 

	 	
3.29
	
Section 7.20 of the Loan Agreement is hereby deleted and replaced with the following:

 

7.20     Reserved.

 

	 	
3.30
	
Article 10 of the Loan Agreement is hereby amended to add the following Section 10.19:

 

10.19     Anti-Money   Laundering/International   Trade   Law   Compliance. Any representation or warranty contained in Section 16.18 is or becomes false or misleading at any time or any covenant therein is violated.

 

	 	
3.31
	
Article 16 of the Loan Agreement is hereby amended to add the following Section 16.18:

 

Section 16.18      Anti-Terrorism Laws. 

 

(a)     Each Borrower represents and warrants that (i) no Covered Entity is a Sanctioned Person, and (ii) no Covered Entity, either in its own right or through any third party, (A) has any of its assets in a Sanctioned Country or in the possession, custody or control of a Sanctioned Person in violation of any Anti-Terrorism Law; (B) does business in or with, or derives any of its income from investments in or transactions with, any Sanctioned Country or Sanctioned Person in violation of any Anti-Terrorism Law; or (C) engages in any dealings or transactions prohibited by any Anti-Terrorism Law.

 

(b)     Each Borrower covenants and agrees that (i) no Covered Entity will become a Sanctioned Person, (ii) no Covered Entity, either in its own right or through any third party, will (A) have any of its assets in a Sanctioned Country or in the possession, custody or control of a Sanctioned Person in violation of any Anti-Terrorism Law; (B) do business in or with, or derive any of its income from investments in or transactions with, any Sanctioned Country or Sanctioned Person in violation of any Anti-Terrorism Law; (C) engage in any dealings or transactions prohibited by any Anti-Terrorism Law; or (D) use the Advances to fund any operations in, finance any investments or activities in, or, make any payments to, a Sanctioned Country or Sanctioned Person in violation of any Anti-Terrorism Law, (iii) the funds used to repay the Obligations will not be derived from any unlawful activity, (iv) each Covered Entity shall comply with all Anti-Terrorism Laws, and (v) Borrowers shall promptly notify the Agent in writing upon the occurrence of a Reportable Compliance Event.

 

	 	
3.32
	
The maximum principal amount set forth in the third paragraph of the Revolving Credit Note is hereby amended from FIFTY MILLION DOLLARS ($50,000,000) to TWENTY FIVE MILLION DOLLARS ($25,000,000). The reference to the $50,000,000 principal amount of the Revolving Credit Note on the top of the first page thereof is hereby amended from $50,000,000 to $25,000,000.

  

 

 

 

 

	
4.
	
Representations, Warranties and Covenants. To induce Agent and Lender to enter into this Amendment, each Borrower represents, warrants, and covenants, as applicable, as follows:

 

	 	
4.1
	
No Claims. Each Borrower represents and warrants that it has no claims, counterclaims, setoffs, actions or causes of actions, damages or liabilities of any kind or nature whatsoever whether at law or in equity, in contract or in tort, existing as of the date of this Amendment (collectively, “Claims”) against Agent or Lender, their direct or indirect parent corporations or any direct or indirect Affiliates of such parent corporations, or any of the foregoing's respective directors, officers, employees, agents, attorneys and legal representatives, or the heirs, administrators, successors or assigns of any of them (collectively, “Lender Parties”) that directly or indirectly arise out of, are based upon or are in any manner connected with any Prior Related Event. As an inducement to Agent and Lender to enter into this Amendment, each Borrower on behalf of itself, and all of its respective successors and assigns hereby knowingly and voluntarily releases and discharges all Lender Parties from any and all Claims, whether known or unknown in existence as of the date hereof, that directly or indirectly arise out of, are based upon or are in any manner connected with any Prior Related Event. As used herein, the term “Prior Related Event” means any transaction, event, circumstance, action, failure to act, occurrence of any sort or type, whether known or unknown, which occurred, existed, was taken, permitted or begun at any time prior to the Effective Date or occurred, existed, was taken, was permitted or begun in accordance with, pursuant to or by virtue of any of the terms of the Loan Documents or any documents executed in connection with the Loan Documents or which was related to or connected in any manner, directly or indirectly to the relationship between the Borrowers and Agent or Lender or to the extension of credit represented by the Loan Documents.

 

	 	
4.2
	
Authorization. Each Person executing this Amendment on behalf of a Borrower is a duly elected and acting manager or officer of such Borrower and is duly authorized by the board of directors, members or managers, as applicable, of such Borrower to execute and deliver this Amendment on behalf of such Borrower. The entry into and performance of this Amendment and the related documents have been duly authorized by each Borrower. Each Borrower has the full right, power and authority to enter into this Amendment and perform its respective obligations hereunder.

 

	 	
4.3
	
No Misrepresentations. No information or material submitted to Agent in connection with this Amendment contains any material misstatement or misrepresentation nor omits to state any material fact or circumstance.

 

	 	
4.4
	
No Conflicts. The execution and delivery of this Amendment and all deliveries required hereunder, and the performance by each Borrower of its obligations hereunder do not and will not conflict with any provision of law or the organizational documents of Borrowers or of any agreement binding upon Borrowers.

 

	 	
4.5
	
Enforceability. This Amendment and each of the related documents is a legal and valid and binding obligation of Borrowers, enforceable against Borrowers in accordance with its terms.

 

	 	
4.6
	
Ratification. Except as expressly modified herein, the Loan Documents, as amended, are and remain in full force and effect. The Loan Documents are hereby ratified and confirmed as the continuing obligation of the Borrowers. The Borrowers hereby reaffirm and grant to the Agent a security interest in and lien upon all of the Collateral. 

 

	 	
4.7
	
Holdings Resolutions. Within ten (10) days after the Effective Date, Borrower will have delivered to Agent, in form and substance acceptable to Agent, a certificate of Holdings, dated as of the Effective Date and executed by its Secretary which shall (i) certify the resolutions of its Board of Directors, members or other body authorizing the execution, delivery and performance of this Amendment, (ii) identify by name and title and bear the signatures of the officer of Holdings authorized to sign this Amendment, and (iii) contain appropriate attachments, including the certificate or articles of incorporation or organization of Holdings.

  

 

 

 

 

	
5.
	
Conditions Precedent. The closing of this Amendment is subject to the following conditions precedent:

 

	 	
5.1
	
Fees and Expenses. Borrowers will pay to Agent all reasonable attorneys’ fees and expenses of Agent incurred in connection with this Amendment. Such fees and expenses may be charged to Borrowers by Agent as a Revolving Advance.

 

	 	
5.2
	
Additional Stock Pledges. Technologies will have executed and delivered to Agent a Stock Pledge Agreement in form and substance satisfactory to Agent with respect to: (a) 100% of the Equity Interests in each of the New Subsidiaries, and (b) 100% of the Equity Interests in Sypris Technologies (UK) Ltd., together with original stock powers and share certificates.

 

	 	
5.3
	
Resolutions. Agent shall have received the following in form and substance acceptable to Agent: (a) a certificate of each Borrower (other than Holdings), dated the Effective Date and executed by its Secretary which shall (i) certify the resolutions of its Board of Directors, members or other body authorizing the execution, delivery and performance of this Amendment, (ii) identify by name and title and bear the signatures of the officer of such Borrower authorized to sign this Amendment, and (iii) contain appropriate attachments, including the certificate or articles of incorporation or organization of each Borrower, (b) a certificate of Sypris Technologies (UK) Ltd., dated the Effective Date and executed by its Secretary which shall certify to its organizational documents, and (c) a good standing certificate for each Borrower from its jurisdiction of organization or the substantive equivalent available in the jurisdiction of organization for each Borrower from the appropriate governmental officer in such jurisdiction.

 

	 	
5.4
	
UCC Matters. Agent shall have obtained results of such Lien searches with respect to New Subsidiaries as Agent shall deem necessary, with results in form and substance satisfactory to Agent.

 

	 	
5.5
	
Insurance. Agent shall have received insurance certificates with respect each of the New Subsidiaries which evidence the coverage required by the Loan Documents and are otherwise in form and substance satisfactory to Agent.

 

	 	
5.6
	
Patent Security Agreement. Technologies and Electronics will have executed and delivered to Agent a Patent Security Agreement in form and substance satisfactory to Agent with respect to certain U.S. patents and patent applications of Borrowers. 

 

	 	
5.7
	
Trademark Security Agreement. Technologies and Electronics will have executed and delivered to Agent a Trademark Security Agreement in form and substance satisfactory to Agent with respect to a certain U.S. trademark of Borrowers.

 

	 	
5.8
	
Other. All corporate and other proceedings, and all documents, instruments and other legal matters in connection with this Amendment and the related documentation shall be satisfactory in form and substance to Agent and its counsel.

 

	 	
5.9
	
The representations and warranties of Borrowers in Section 4 herein will be true.

  

 

 

 

 

	
6.
	
General.

 

	 	
6.1
	
This Amendment constitutes an “Other Document” as defined in the Loan Agreement. The Loan Documents are hereby modified to include this Amendment within the definition of the term “Other Documents” or “Loan Documents” as used therein.

 

	 	
6.2
	
All representations and warranties made by Borrowers herein will survive the execution and delivery of this Amendment.

 

	 	
6.3
	
This Amendment will be binding upon and inure to the benefit of Borrowers, Agent, and Lender and their respective successors and assigns.

 

	 	
6.4
	
This Amendment will in all respects be governed and construed in accordance with the laws of the State of Ohio.

 

	 	
6.5
	
This Amendment and the documents and instruments to be executed hereunder constitute the entire agreement among the parties with respect to the subject matter hereof and shall not be amended, modified or terminated except by a writing signed by the party to be charged therewith.

 

	 	
6.6
	
Each Borrower agrees to execute such other instruments and documents and provide Agent with such further assurances as Agent may reasonably request to more fully carry out the intent of this Amendment.

 

	 	
6.7
	
This Amendment may be executed in a number of identical counterparts. If so, each such counterpart shall collectively constitute one agreement. Any signature delivered by a party by facsimile transmission or other electronic means shall be deemed to be an original signature hereto.

 

	 	
6.8
	
No provision of this Amendment is intended or shall be construed to be for the benefit of any third party.

 

	 	
6.9
	
THE PARTIES EACH HEREBY WAIVE ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION OR CAUSE OF ACTION ARISING UNDER THIS AMENDMENT.

 

	 	
6.10
	
EACH BORROWER WAIVES, TO THE MAXIMUM EXTENT NOT PROHIBITED BY LAW, ANY RIGHT SUCH BORROWER MAY HAVE TO CLAIM OR RECOVER FROM THE AGENT OR ANY LENDER IN ANY LEGAL ACTION OR PROCEEDING ANY SPECIAL, EXEMPLARY, PUNITIVE OR CONSEQUENTIAL DAMAGES.

 

	 	
6.11
	
EACH BORROWER ACKNOWLEDGES THAT (A) A TRIGGERING EVENT OCCURRED AS OF JANUARY 10, 2015, (B) TESTING OF THE FIXED CHARGE COVERAGE RATIO HAS COMMENCED, (C) A CASH DOMINION PERIOD IS CONTINUING, AND (D) AGENT MAY AT ANY TIME AND FROM TIME TO TIME EXERCISE ANY OR ALL OF ITS RIGHTS AND REMEDIES ARISING UPON THE OCCURRENCE OF A TRIGGERING EVENT OR DURING A CASH DOMINION PERIOD, INCLUDING THE EXERCISE OF EXCLUSIVE CONTROL WITH RESPECT TO COLLECTION ACCOUNTS AND THE DAILY APPLICATION OF COLLATERAL COLLECTIONS TO THE OBLIGATIONS. 

  

 

 

 

 

	 	
6.12
	
NOTHING CONTAINED HEREIN SHALL BE DEEMED TO BE A WAIVER OF ANY OF THE RIGHTS AND REMEDIES AVAILABLE TO AGENT OR LENDERS UNDER APPLICABLE LAW OR ANY OF THE LOAN DOCUMENTS, AND AGENT RESERVES ALL RIGHTS AND REMEDIES UNDER THE LOAN DOCUMENTS AND APPLICABLE LAW AGAINST BORROWERS, INCLUDING, WITHOUT LIMITATION, ANY AND ALL RIGHTS AND REMEDIES WITH RESPECT TO ANY PENDING DEFAULT OR EVENT OF DEFAULT, WHETHER KNOWN OR UNKNOWN. NO FAILURE TO EXERCISE, NO DELAY IN EXERCISING, NO MAKING OF ANY ADVANCE TO BORROWERS BY AGENT OR LENDERS, AND NO ACCEPTANCE OF ANY PAYMENT OR NEGOTIATION BY AGENT OR LENDERS, NOW OR IN THE FUTURE, SHALL OPERATE AS A WAIVER OF ANY POWER, REMEDY, OR RIGHT OF THEM UNDER THIS AGREEMENT, THE LOAN DOCUMENTS OR APPLICABLE LAW, NOR SHALL ANY SINGLE OR PARTIAL EXERCISE OF ANY POWER, REMEDY, OR RIGHT PRECLUDE ANY OTHER OR FURTHER EXERCISE OF ANY SUCH POWER, REMEDY OR RIGHT. NO WAIVER OF ANY DEFAULT OR EVENT OF DEFAULT, NOR ANY AMENDMENT, MODIFICATION, WAIVER, DISCHARGE OR TERMINATION OF ANY PROVISION OF ANY OF THE LOAN DOCUMENTS, NOR CONSENT TO ANY DEPARTURE BY ANY BORROWER THEREFROM, WILL BE ESTABLISHED BY CONDUCT, CUSTOM OR COURSE OF DEALING. NO COURSE OF DEALING IS ESTABLISHED HEREBY. NO AMENDMENT, MODIFICATION, WAIVER, DISCHARGE, TERMINATION OR CONSENT WITH RESPECT TO THE LOAN DOCUMENTS WILL IN ANY EVENT BE EFFECTIVE UNLESS THE SAME IS IN WRITING, SIGNED BY AGENT AND LENDERS AND SPECIFICALLY REFERS TO THE APPLICABLE LOAN DOCUMENT, AND THEN SUCH AMENDMENT, MODIFICATION, WAIVER, DISCHARGE, TERMINATION OR CONSENT WILL BE EFFECTIVE ONLY IN THE SPECIFIC INSTANCE AND FOR THE SPECIFIC PURPOSE FOR WHICH GIVEN. THIS AMENDMENT IS NOT REQUIRED TO MAINTAIN THE VALIDITY OR ENFORCEABILITY OF THE LOAN DOCUMENTS. TIME IS OF THE ESSENCE WITH RESPECT TO THE PERFORMANCE BY BORROWERS OF THE TERMS AND PROVISIONS OF THIS AMENDMENT AND THE OTHER LOAN DOCUMENTS.

 

Signature Page Follows

  

 

 

 

 

Signature Page to Joinder and Amendment No. 1 to Loan Documents

 

	Executed as of the Effective Date	 	 
	 	  	 
	 	
SYPRIS SOLUTIONS, INC.,
	 
	 	
as Borrower
	 
	 	  	 
	 	  	 
	 	
By:                                                                                                      
	 
	 	
  Jeffrey T. Gill
	 
	 	
  President and Chief Executive Officer
	 
	 	  	 
	 	
SYPRIS TECHNOLOGIES, INC.,
	 
	 	
SYPRIS ELECTRONICS, LLC,
	 
	 	
SYPRIS DATA SYSTEMS, INC.,
	 
	 	
SYPRIS TECHNOLOGIES MARION, LLC,
	 
	 	
SYPRIS TECHNOLOGIES KENTON, INC.,
	 
	 	
SYPRIS TECHNOLOGIES MEXICAN HOLDINGS, LLC, 
	 
	 	
SYPRIS TECHNOLOGIES NORTHERN, INC. 
	 
	 	
SYPRIS TECHNOLOGIES SOUTHERN, INC. SYPRIS TECHNOLOGIES INTERNATIONAL, INC.,
	 
	 	
as Borrowers
	 
	 	  	 
	 	  	 
	 	
By:/s/ Jeffrey T. Gill                                                                          
	 
	 	
  Jeffrey T. Gill
	 
	 	
  Chairman
	 
	 	  	 
	 	
PNC BANK, NATIONAL ASSOCIATION,
	 
	 	
as Lender and Agent
	 
	 	  	 
	 	  	 
	 	
By: /s/ Jay Danforth                                                                         
	 
	 	
  Jay Danforth
	 
	 	
  Vice President

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