Document:

Amendment No.1 to Amended and Restated Credit Agreement

 Exhibit 10.43 
 AMENDMENT NO. 1 TO AMENDED AND RESTATED CREDIT AGREEMENT 
 This Amendment
No. 1 to Amended and Restated Credit Agreement (this “Amendment”) is entered into as of March 16, 2011, by and among Midas International Corporation, a Delaware corporation (the “Borrower”), the Lenders
(as defined below), and JPMorgan Chase Bank, N.A., as Administrative Agent (the “Agent”), PNC Bank National Association, as Syndication Agent, and Bank of America, N.A., as Documentation Agent. 

RECITALS 
 WHEREAS, the Borrower, the lenders party thereto (the “Lenders”), and the Agent are party to that certain Amended and Restated Credit Agreement dated as of December 4, 2009 (the
“Credit Agreement”). Unless otherwise specified herein, capitalized terms used in this Amendment shall have the meanings ascribed to them by the Credit Agreement. 

WHEREAS, the Borrower has requested that the Lenders and the Agent amend the Credit Agreement and grant a certain waiver with respect
thereto. 
 WHEREAS, the Lenders party hereto and the Agent are willing, on the terms and subject to the conditions set forth
herein, to amend the Credit Agreement and to grant such waiver. 
 NOW, THEREFORE, in consideration of the mutual agreements
contained herein and other good and valuable consideration, the sufficiency and receipt of which are hereby acknowledged, the parties hereto agree as follows: 
  

	 	1.	Amendments to Credit Agreement. 

  

(a) Article I of the Credit Agreement is hereby amended by deleting the definition of “Consolidated EBITDA” in its entirety and
replacing it with the following: 
 “Consolidated EBITDA” means Consolidated Net Income,
plus (a) to the extent deducted from revenues in determining Consolidated Net Income, (i) Consolidated Interest Expense, (ii) expense for income taxes paid or accrued, (iii) depreciation, (iv) amortization
(including amortization of stock based compensation expenses in accordance with Statement of Financial Accounting Standards No. 123R), (v) special charges in an aggregate amount not to exceed $1,500,000 related to the restructuring of the
Borrower’s corporate overhead resulting in reductions in corporate expense occurring during the period from January 1, 2009 through December 31, 2010, (vi) special charges in an aggregate amount not to exceed $2,500,000 related
to the potential ineffectiveness or termination of any existing Rate Management Transactions occurring during the period from January 1, 2009 through December 31, 2010, (vii) special charges consisting of deferred finance charges
associated with the closing of the transactions contemplated by this Agreement and any amendments thereto, (viii) special charges in an aggregate amount not to exceed $2,000,000 relating to any reserve taken in connection with the Glad
Transaction during the period from the Restatement Date through December 31, 2010, (ix) special charges incurred in fiscal year 2009 in an aggregate amount not to exceed $500,000 in connection with improvements to the appearance of
company-owned stores and franchised stores and the implementation of the new warranty program, (x)

 
restructuring costs and losses (net of realized gains upon disposition) related to company-owned stores (including only those stores owned as of the Restatement Date and the stores to be acquired
in the Glad Transaction) of up to $1,000,000 in each fiscal year, and (xi) the special charge incurred in fiscal year 2010 in an amount not to exceed $25,500,000 as a result of the award arising from the arbitration between Parent and MESA
S.p.A. and Mobivia Group S.A., and minus (b) to the extent included in Consolidated Net Income, extraordinary gains realized other than in the ordinary course of business, all calculated for Parent and its Subsidiaries on a
consolidated basis. As used herein, “fiscal quarter” and “fiscal year” means a fiscal quarter and fiscal year of Parent. 
 (b) Article V of the Credit Agreement is hereby amended by deleting Section 5.5 in its entirety and replacing it with the following: 

5.5 Material Adverse Change. Since January 4, 2009 there has been no development, event or circumstance which
could reasonably be expected to have a Material Adverse Effect other than the matter described on Schedule 5.7 hereto. 
 (c)
Article VI of the Credit Agreement is hereby amended by (i) deleting Section 6.14(g) in its entirety and replacing it with the following: 
 (g) advances made in connection with the purchase of retail locations and any real estate and equipment relating thereto; provided, that during the period from March 16, 2011 through
March 31, 2012, such advances shall not exceed $1,000,000 in the aggregate. 
 (ii) deleting Sections 6.24.2 and 6.24.3 in their entirety
and replacing them with the following: 
 6.24.2 Leverage Ratio. The Borrower will not permit the ratio
(the “Leverage Ratio”), determined as of the end of each fiscal quarter, of (a)(i) Bank Debt, plus (ii) obligations pursuant to or in respect of Letters of Credit, plus (iii) Capitalized Lease
Obligations, in each case for Parent and its Subsidiaries as of the date of determination to (b) Consolidated EBITDA for the then most recently ended 12 fiscal months, to be greater than (x) 3.50 to 1.00 as of January 1,
2011, April 2, 2011 and July 2, 2011, (y) 3.25 to 1.00 as of October 1, 2011 and December 31, 2011 and (z) 3.00 to 1.00 as of the end of each fiscal quarter ending thereafter; provided, that at any time
following the fiscal quarter ending December 31, 2011 that the Subordinated Indebtedness Condition shall exist, the maximum ratio shall be 3.25 to 1.00. 
 6.24.3 Minimum Net Worth. The Borrower will at all times maintain Consolidated Net Worth of not less than the sum of (a) $17,500,000, plus (b) 50% of positive Consolidated Net
Income earned in each fiscal quarter ending on or after January 1, 2011. 
 and (iii) adding Section 6.24.5 as follows:

  
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 6.24.5 Capital Expenditures. The Borrower will not, nor will it
permit any Subsidiary to, expend, or be committed to expend, in excess of $4,000,000 for Consolidated Capital Expenditures during its fiscal year ending December 31, 2011 in the aggregate for the Borrower and its Subsidiaries. 

(d) Schedule 5.7 to the Credit Agreement is hereby deleted in its entirety and replaced with the Schedule 5.7 attached hereto.

 2.        Waiver. The Agent and the undersigned Lenders hereby waive any
Default or Event of Default arising under Section 7.1 of the Credit Agreement to the extent caused by the Borrower’s making a request for a Loan on March 3, 2011 and concurrent remaking of the representations set forth in Sections 5.5
and 5.7 of the Credit Agreement following the granting of an award payable by Parent in connection with the arbitration between Parent and MESA S.p.A. and Mobivia Group S.A.; provided, that there is no material adverse change to the results
of operations set forth in Parent’s audited financial statements for fiscal year 2010 from those set forth in the preliminary financial statements for such fiscal year previously delivered to the Agent and the Lenders. 

3.        Representations and Warranties of the Borrower. The Borrower represents and
warrants that: 
 (a) The execution, delivery and performance by the Borrower of this Amendment have been duly authorized by all
necessary corporate action and that this Amendment is a legal, valid and binding obligation of the Borrower enforceable against the Borrower in accordance with its terms, except as the enforcement thereof may be subject to (i) the effect of any
applicable bankruptcy, insolvency, reorganization, moratorium or similar law affecting creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforcement is sought in a proceeding in equity or at
law); 
 (b) Each of the representations and warranties contained in the Credit Agreement is true and correct in all material
respects on and as of the date hereof as if made on the date hereof, except (i) for the matter referenced in paragraph 2 above, and (ii) to the extent that any such representation or warranty is stated to relate solely to an earlier date,
in which case such representation or warranty shall have been true and correct on and as of such earlier date; and 
 (c) After
giving effect to this Amendment, no Default or Unmatured Default has occurred and is continuing. 

4.        Effective Date. This Amendment shall become effective upon receipt by the Agent
of duly executed counterparts of (a) this Amendment from the Borrower and each Lender executing the same, and (b) the Consent and Reaffirmation of Guaranty dated as of the date hereof in the form attached hereto as Exhibit A
executed by each of the Guarantors. 

  
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 5.        Reference to and Effect Upon the Credit
Agreement. 
 (a) The Credit Agreement and the other Loan Documents shall remain in full force and effect, and except as
expressly set forth above, the execution, delivery and effectiveness of this Amendment shall not operate as a waiver or forbearance of any Default or Unmatured Default or any right, power or remedy of the Agent or any Lender under the Credit
Agreement or any of the other Loan Documents, or constitute a consent, waiver or modification with respect to any provision of the Credit Agreement or any of the other Loan Documents, and the Borrower hereby fully ratifies and affirms each Loan
Document to which it is a party. 
 (b) Upon the effectiveness of this Amendment, each reference in the Credit Agreement to
“this Agreement,” “hereunder,” “hereof,” “herein” or words of similar import shall mean and be a reference to the Credit Agreement as amended hereby. 

6.        Costs and Expenses. The Borrower hereby affirms its obligations under
Section 9.5.1 of the Credit Agreement to reimburse the Agent for all reasonable costs and out-of-pocket expenses paid or incurred by the Agent in connection with the preparation, negotiation, execution and delivery of this Amendment, including
but not limited to the reasonable fees and expenses of attorneys for the Agent with respect thereto. 

7.        GOVERNING LAW. THIS AMENDMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE
WITH THE INTERNAL LAWS (AS OPPOSED TO CONFLICTS OF LAWS PROVISIONS) OF THE STATE OF ILLINOIS BUT GIVING EFFECT TO FEDERAL LAWS APPLICABLE TO NATIONAL BANKS. 
 8.        Headings. Section headings in this Amendment are included herein for convenience of reference only and shall not constitute a part of this
Amendment for any other purposes. 
 9.        Counterparts. This Amendment may
be executed in any number of counterparts, each of which when so executed shall be deemed an original but all such counterparts shall constitute one and the same instrument. 
 [signature pages follow] 

  
 4 

 IN WITNESS WHEREOF, the parties have executed this Amendment as of the date and year first
above written. 
  

			
	BORROWER:
	
	MIDAS INTERNATIONAL CORPORATION, a Delaware corporation
		
	By:	 	 
		
	Title:	 	 

  

			
	LENDERS:
	  
 JPMORGAN CHASE BANK, N.A.,

Individually, as LC Issuer, as Swing Line Lender and as Agent

		
	By:	 	 
		
	Title:	 	 

  

			
	PNC BANK NATIONAL ASSOCIATION, as Syndication Agent and Lender
		
	By:	 	 
		
	Title:	 	 

  

			
	BANK OF AMERICA, N.A., as Documentation Agent and Lender
		
	By:	 	 
		
	Title:	 	 

 
			
	BRANCH BANKING AND TRUST COMPANY, as Lender
		
	By:	 	 
		
	Title:	 	 

  

			
	THE NORTHERN TRUST COMPANY, as Lender
		
	By:	 	 
		
	Title:	 	 

 Schedule 5.7 

 EXHIBIT A 
 CONSENT AND REAFFIRMATION 
 Each of the undersigned
(“Guarantors”) hereby (i) acknowledges receipt of a copy of Amendment No. 1 to the Amended and Restated Credit Agreement dated as of March 16, 2011 (the “Amendment”); (ii) consents to the execution and
delivery thereof by the Borrower; (iii) agrees to be bound thereby; (iv) affirms that nothing contained therein shall modify in any respect whatsoever its guaranty of the obligations of the Borrower to Agent and Lenders pursuant to the
terms of that certain Guaranty (the “Guaranty”) dated as of December 4, 2009, as amended through the date hereof, and (v) reaffirms that the Guaranty is and shall continue to remain in full force and effect. Although each of the
Guarantors has been informed of the matters set forth herein and in the Amendment and has acknowledged and agreed to same, such Guarantors understand that the Agent and Lenders have no obligation to inform any of the Guarantors of such matters in
the future or to seek any of the Guarantors’ acknowledgment or agreement to future amendments or waivers, and nothing herein shall create such a duty. 
 This Consent and Reaffirmation shall be governed by and construed in accordance with the laws of the State of Illinois, without reference to principles of conflicts of law. 

[signature pages follow] 

 IN WITNESS WHEREOF, each of the undersigned has executed this Consent and Reaffirmation on
and as of the date of such Amendment. 
  

			
	 MUFFLER CORPORATION OF
 AMERICA

		
	By:	 	 
		
	Title:	 	 
	
	 MIDAS PROPERTIES INC.

		
	By:	 	 
		
	Title:	 	 
	
	MIDAS REALTY CORPORATION
		
	By:	 	 
		
	Title:	 	 
	
	COSMIC HOLDINGS LLC
		
	By:	 	 
		
	Title:	 	 
	
	MIDAS, INC.
		
	By:	 	 
		
	Title:	 	 

 
			
	MIDAS ILLINOIS INC.
		
	By:	 	 
		
	Title:	 	 
	
	 PROGRESSIVE AUTOMOTIVE
 SYSTEMS, INC.

		
	By:	 	 
		
	Title:	 	 
	
	 MIDAS INTERNATIONAL

CORPORATION, a Wyoming corporation

		
	By:	 	 
		
	Title:Description of 2011 Incentive Compensation Plan

 Exhibit 10.44 
 DESCRIPTION OF 2011 INCENTIVE COMPENSATION PLAN 
 At its meeting held on
March 15, 2011, the Board of Directors (the “Board”) of Midas, Inc. (the “Company”), upon the recommendation of its Compensation Committee (the “Committee”), approved the terms of the 2011 Annual Incentive
Compensation Plan (the “2011 Plan”) for the Company’s executive officers and key employees, including its Chief Executive Officer. The 2011 Plan is intended to provide incentives to the 2011 Plan participants in the form of cash bonus
payments for achieving certain specified performance goals. 
 The bonus target levels under the 2011 Plan range between 15% and
90% (or such greater percentage as may result from the enhancement features described below) of the applicable participant’s annual base salary, depending upon the participant’s salary grade within the Company. The bonus target levels for
the Company’s officers under the 2011 Plan are as follows: 
  

					
	 Title
	  	Bonus Target Level*	 
	 Chief Executive Officer
	  	 	90	% 
	 Executive Vice President
	  	 	60	% 
	 Senior Vice Presidents
	  	 	50	% 
	 Vice Presidents
	  	 	35	% 
	 Director-level employees
	  	 	15-25	% 

  

	*	as a percentage of annual base salary 

 As previously noted, the foregoing bonus target levels are subject to the enhancement features described below. 
 The 2011 Plan is comprised of three components: (1) an Operating Income component (the “Operating Income Component”), which represents 50% of the 2011 Plan’s potential bonus payout,
(2) a North American Comparable Shop Retail Sales Increase component (the “Retail Sales Component”), which represents 20% of the 2011 Plan’s potential bonus payout, and (3) an Individual Objectives component (the
“Individual Objectives Component”), which represents the remaining 30% of the 2011 Plan’s potential bonus payout. 
 Bonus awards pursuant to the Operating Income Component are based upon the Company’s achievement of an operating income target of approximately $21,450,000 for 2011, which is then adjusted to exclude
the impact of bonus accruals, restricted stock amortization expense, costs related to the expensing of stock options, gains and losses on asset sales, and restructuring costs (the “Financial Target”). In addition, the Operating Income
Component contains a “2 for 1” enhancement feature whereby, for each 1% (or pro rata portion thereof) over the Financial Target achieved by the Company, an additional 2% (or corresponding pro rata portion thereof) is added to the target
bonus award under the Operating Income Component. Similarly, for each 1% (or pro rata portion thereof) that the Company falls short of the Financial Target, the target bonus award under the Operating Income Component is reduced by 2% (or
corresponding pro rata portion thereof). The 2011 Plan specifically provides that no bonus awards are to be paid pursuant to the Operating Income Component unless the Company achieves at least 80% of the Financial Target (the “Financial Target
Threshold”). 
 Bonus awards pursuant to the Retail Sales Component are based upon the Company’s achievement of a 2%
comparable shop retail sales increase in North America for 2011 (the “Sales Target”). In addition, the Retail Sales Component contains an enhancement feature whereby, for each 1% (or pro rata portion thereof) over the 2% targeted increase
in comparable shop retail sales achieved by the Company in North America, an additional 10% (or corresponding pro rata portion thereof) would be added to the target bonus award payable thereunder (up to a maximum of 130%). Similarly, for each 1% (or
pro rata portion thereof) that the Company falls short of the 2% targeted increase, the target bonus award under the Sales Component would be reduced by 10% (or corresponding pro rata portion thereof), with no payout thereunder if the comparable
shop retail sales increase in North America is below 1% in 2011 (the “Sales Target 

 
Threshold”). The 2011 Plan specifically provides that no bonus awards are to be paid pursuant to the Retail Sales Component if the Company fails to achieve the Financial Target Threshold
under the Operating Income Component. 
 Bonus awards pursuant to the Individual Objectives Component are based upon a 2011 Plan
participant’s achievement of specific individual objectives. Individual objectives are established by mutual agreement of the participant and his or her direct supervisor within the Company (or the Board, in the case of the Chief Executive
Officer), and align with, and otherwise support and/or advance, the Company’s overall business strategy. The Individual Objectives Component of the 2011 Plan provides for a maximum achievement percentage of 150% in order to acknowledge and
reward extraordinary efforts by the 2011 Plan participant in achieving particular individual objectives. Bonus awards pursuant to the Individual Objectives Component are not contingent upon the Company’s achievement of the Financial Target, the
Sales Target or any other financial metrics. 
 The 2011 Plan provides for a maximum cap of 150% of a participant’s target
bonus level, notwithstanding the above-described enhancement features under the Operating Income Component, the Retail Sales Component and the Individual Objectives Component. 
 The Committee oversees the 2011 Plan. All bonus awards made pursuant to the 2011 Plan are subject to the Committee’s approval. In addition, the Committee has sole authority to determine whether the
Financial Target Threshold and the Sales Target Threshold have been achieved by the Company and, if so, the applicable bonus award percentages under the Operating Income Component and the Retail Sales Component resulting from the enhancement
features described above. The 2011 Plan also provides the Committee with discretion to include or exclude significant one-time items in determining the level of achievement of the Financial Target and the Sales Target.

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