Document:

First Amendment to Subordinated Loan Agreement, dated as of March 29, 2007

 EXHIBIT 10.2 
 FIRST AMENDMENT TO SUBORDINATED LOAN AGREEMENT 
 FIRST AMENDMENT SUBORDINATED LOAN AGREEMENT, dated
as of March 29, 2007, as amended, supplemented or otherwise modified from time to time (this “First Amendment”), by and among MEMRY CORPORATION, a Delaware corporation (the “Parent”), PUTNAM PLASTICS COMPANY
LLC, a Connecticut limited liability company (“Putnam”), IRONBRIDGE MEZZANINE FUND, L.P., a Delaware limited partnership (“Ironbridge”), and BROOKSIDE PECKS CAPITAL PARTNERS, L.P., a Delaware limited partnership in
its individual capacity (in said capacity, “BPCP” and together with Ironbridge, the “Lenders”), and in its capacity as agent for all the Lenders (the “Agent”). (The Parent and Putnam are
individually referred to herein as a “Borrower” and they are collectively referred to herein as the “Borrowers”.) 
 R E C I T A L S: 
 WHEREAS, the
Borrowers and the Senior Lender entered into that certain Credit and Security Agreement, dated as of November 9, 2004, as amended, pursuant to which, among other things, the Senior Lender made certain loans and other financial accommodations to
the Borrowers, subject to the terms and conditions set forth therein; 
 WHEREAS, the Borrowers and the Lenders entered into that certain
Subordinated Loan Agreement, dated as of November 9, 2004 (the “Agreement”), pursuant to which, among other things, the Lenders extended credit to the Borrowers as evidenced by certain notes made by the Borrowers in favor of
the Lenders and pursuant to which the Borrowers incurred obligations and liabilities to the Lenders; 
 WHEREAS, the Borrowers and the Senior
Lender are entering into a Fourth Amendment Agreement, dated as of the date hereof (the “Senior Amendment”); and 
 WHEREAS,
in connection with the execution and delivery of the Senior Amendment the Borrowers and the Lenders desire to enter into this First Amendment in order to amend certain sections of the Agreement; 

 NOW, THEREFORE, for good and valuable consideration, the receipt and adequacy of which are hereby
acknowledged, the parties hereto hereby agree as follows: 
 ARTICLE I 
 Amendments 
 1.1. Capitalized terms used in this First Amendment but not
otherwise defined herein shall have the respective meaning ascribed to such terms in the Agreement. 
 1.2. Subject to the provisions of
Article II hereof, effective as of the date hereof the following defined term in Section 1.01 of the Agreement is amended and restated to read in full as follows: 
 “‘Fixed Charge Coverage Ratio’ shall mean and include: (i) for the quarters ending 3/31/2007 and 6/30/2007 of Borrowers, the ratio of (a) EBITDA for such period, minus any
Unfinanced Capital Expenditures less Cash (as defined in the Senior Credit Agreements), to (b) Fixed Charges for such period, provided, however, that the amount of Cash deducted from (a) cannot exceed EBITDA; and (ii) with
respect to any applicable fiscal period thereafter of Borrowers, the ratio of (a) EBITDA for such period, minus any Unfinanced Capital Expenditures made during such period, to (b) Fixed Charges for such period.” 
 ARTICLE II 
 Conditions Precedent

 The effectiveness of this First Amendment is subject to the satisfaction of, or waiver by the Lenders of, the following conditions
precedent on or prior to the date hereof: 
 2.1. Corporate Action. All corporate action necessary for the valid execution, delivery
and performance by the Borrowers of this First Amendment shall have been duly and effectively taken, and evidence thereof satisfactory to the Lenders shall have been provided to the Lenders. 
 2.2. Payment of Expenses. The Borrowers shall have paid to the Lenders all of their reasonable out-of-pocket costs and expenses incurred in
connection with the preparation, execution and delivery of this First Amendment. 
 2.3. Senior Amendment to Credit and Security
Agreement. The Borrowers and the Senior Lender shall simultaneously herewith enter into the Senior Amendment. 
 2.4. No Default or
Event of Default. No Default or Event of Default shall have occurred and be continuing. 
 2.5. Senior Lender Consent. The Lenders
shall have received evidence reasonably satisfactory to the Lenders of the Senior Lender’s consent to this First Amendment and the transactions contemplated hereby. 
 2.6. Representations and Warranties in the Agreement. All of the representations and warranties of the Borrowers set forth in the Agreement, as amended (other than those made in 

  

 Memry 1st Amendment to Subordinated Loan Agreement 
 2 

 
Section 4.04(c) of the Agreement), and the other Loan Documents shall be true and correct in all respects, except to the extent such representations and
warranties expressly related to an earlier date, in which case such representation and warranties shall have been true and correct in all respects as of such earlier date. 
 ARTICLE III 
 Miscellaneous 
 3.1. Representations and Warranties. The Borrowers represent and warrant to the Lenders that: 
 (a) the execution, delivery and performance of this First Amendment has been duly authorized by all requisite corporate or limited
liability company action, as applicable, on the part of the Borrowers and that this First Amendment has been duly executed and delivered by the Borrowers; 
 (b) this First Amendment constitutes the legal, valid and binding obligation of the Borrowers, enforceable against the Borrowers in accordance with its terms, except as enforceability may be limited by applicable
bankruptcy, insolvency, or similar laws affecting the enforcement of creditors’ rights generally or by equitable principles relating to enforceability; 
 (c) each of the representations and warranties set forth in the Agreement (other than those made in Section 4.04(c) of the Agreement)
are true and correct in all material respects as of the date hereof, except to the extent that any such representation or warranty (i) relates to a specific date, in which case such representation and warranty shall be true and correct as of
such earlier date or (ii) is qualified by materiality or has Material Adverse Effect qualifiers, in which case, such representations and warranties shall be true and correct in all respects; and 
 (d) no Default or Event of Default has occurred and is continuing. 
 3.2. Counterparts. This First Amendment may be executed by one or more of the parties to this First Amendment in any number of separate
counterparts and all of said counterparts taken together shall be deemed to constitute one and the same instrument. A set of the copies of this First Amendment signed by all the parties shall be delivered to and held by the Lenders and the
Borrowers. 
 3.3. Governing Law. This First Amendment and the rights and obligations of the parties under this First Amendment shall
be governed by, and construed and interpreted in accordance with, the laws of the State of New York without regard to choice of law provisions. 
 3.4. Third Party Rights. This First Amendment is solely for the benefit of the parties hereto and, where applicable, the Senior Debt Holders and their respective successors and assigns as permitted hereunder, and no other Person
shall have any right, benefit, priority or interest under, or because of the existence of, this First Amendment. 
 3.5. Ratification and
Confirmation. By the execution and delivery hereof, each of the undersigned hereby ratifies and confirms that the Agreement and the Notes shall remain in full force and effect, as in effect on the date hereof, until they may be amended in
accordance with their terms. 
  

 3 

 3.6. Entire Agreement. This First Amendment, together with the other documents and agreements
referenced herein to be executed by the parties in connection herewith or that otherwise are executed by the parties concurrently herewith, constitutes the entire agreement of the parties with respect to the subject matter hereof, and supersedes any
prior agreements or understandings, whether written or oral with respect to such subject matter. 
 [REMAINDER OF PAGE INTENTIONALLY LEFT
BLANK] 
  

 4 

 IN WITNESS WHEREOF, the Borrowers and the Lenders have executed and delivered this First Amendment
as of the day and year first written above. 
  

			
	MEMRY CORPORATION
		
	By:	 	/s/ Richard F. Sowerby
		 	Name: Richard F. Sowerby
		 	Title: Chief Financial Officer & Treasurer

  

			
	PUTNAM PLASTICS COMPANY LLC
		
	By:	 	/s/ Robert P. Belcher
		 	Name: Robert P. Belcher
		 	Title: VP & CFO

  
  

			
	BROOKSIDE PECKS CAPITAL PARTNERS, L.P.
	 By: BROOKSIDE PECKS MANAGEMENT, LLC,
             its General Partner

		
	By:	 	/s/ David D. Buttolph
		 	Name: David D. Buttolph
		 	Title: Managing Director

  

			
	IRONWOOD MEZZANINE FUND, L.P.
	 By: IRONWOOD CAPITAL MANAGEMENT,
         LLC, its General Partner

		
	By:	 	/s/ James R. Barra
		 	Name: James R. Barra
		 	Title: Managing Director

  

 5Form of the Privacy Notices of the Managing Owner

 Exhibit 4.4 
 PRIVACY POLICY NOTICE OF KENMAR 
 December 2006 
 This Privacy Policy Notice explains the manner in which Kenmar* collects, utilizes and maintains non-public personal information about customers who are individuals, as
required under federal and other applicable law. Kenmar is committed to protecting a customer’s privacy and maintaining the confidentiality and security of a customer’s personal information. 
 Collection of Information. Kenmar collects non-public information about customers from the following sources: 
  

	 	•	 	 Applications, questionnaires and other information provided by a customer in writing, in person, by telephone, electronically or by any other means. This
information may include name, address, e-mail address, employment information, and financial and investment information; 

  

	 	•	 	 Kenmar-related transactions and investments, including account balances, investments and withdrawals/redemptions; and 

  

	 	•	 	 If you visit Kenmar’s web site, software is used to collect anonymous data such as browser types, pages visited, and date of visit. Kenmar uses this data to
better understand web site usage and to improve its web site. The information is stored in log files and is used for aggregated and statistical reporting. This log information is not linked to personally identifiable information gathered elsewhere
on the site. 

 Use and Disclosure of Information. Kenmar uses personal information in ways compatible with the purposes for which
we originally requested it. Kenmar does not disclose non-public personal information about customers to affiliates or nonaffiliated third parties except in limited circumstances as required or permitted by law. For example, we may share non-public
personal information about customers with affiliated and nonaffiliated parties in the following situations, among others: in connection with the administration and operations of Kenmar and/or to service your account(s), or to provide services or
process transactions that you have requested, with Kenmar’s brokers, custodians, administrators, attorneys, accountants, auditors, or other service providers; to respond to a subpoena or court order, judicial process or regulatory inquiry; to
protect or defend against fraud, unauthorized transactions (such as money laundering), law suits, claims or other liabilities; to protect the security of our records, or to protect our rights or property; in connection with a proposed or actual
sale, merger, or transfer of all or a portion of Kenmar’s business; to otherwise assist Kenmar in offering Kenmar-related products and services to customers; at a customer’s direction/consent, with the customer’s representatives,
advisors and other third parties. Kenmar restricts access to your personal and account information to those employees who need to know that information to provide products and services to you. Kenmar maintains appropriate physical, electronic and
procedural safeguards to guard your non-public personal information. 
 Kenmar’s Privacy Policy also applies to former customers. Kenmar reserves the
right to change its Privacy Policy at any time. The examples above are illustrations and are not intended to be exclusive. Kenmar’s Privacy Policy complies with federal law regarding privacy–you may have additional rights under other
foreign or domestic laws that may apply to you. 
 If you have any questions, please call Kenmar’s Investor Services and Communications at 914-307-4000
or send a letter to Kenmar, Attention: Investor Services, 900 King Street, Suite 100, Rye Brook, NY 10573. 

	*	“Kenmar” or “we” means (i) collectively, Kenmar Securities Inc., Preferred Investment Solutions Corp., Kenmar Investment Adviser LLC, Kenmar
Global Investment Management LLC and Kenmar GIM Inc., (ii) private and public investment funds/pools advised by Kenmar, and (iii) each of their affiliates. 

 Important Privacy Choices for California Consumers 
 You have the right to control whether Kenmar shares some of your personal information. Please read the following information carefully before you make your choices
below. 
 Your Rights 
 You have the following rights to
restrict the sharing of personal and financial information with our affiliates (companies we own or control) and outside companies that we do business with. Nothing in this form prohibits the sharing of information necessary for us to follow the
law, as permitted by law, or to give you the best service on your accounts with us. This includes sending you information about some other products or services. 
 Your Choices 
 Restrict Information Sharing With Companies We Own or Control (Affiliates): 
 Unless you say “No,” we may share personal and financial information about you with our affiliated companies. 
  ̈ NO, please do not share personal and financial information
with your affiliated companies. 
 Restrict Information Sharing With Other Companies We Do Business With To Provide Financial Products And Services:

 Unless you say “No,” we may share personal and financial information about you with outside companies we contract with to provide financial
products and services to you. As a practical matter, it may be impossible to provide products and services to you if we cannot share your personal and financial information with such service providers to your account. 
  ̈ NO, please do not share personal and financial information
with outside companies you contract with to provide financial products and services. 
 Restrict Information Sharing With Other Companies That Do Not
Provide Products and Services To You: 
 Unless you say “Yes” we may not share personal and financial information about you with outside
companies who do not provide financial products and services to you. 
  ̈ YES, I authorize you to share personal and financial information with outside companies who do not provide financial products and services to you. 
 Time Sensitive Reply 
 You may make your privacy choice(s) at any time. Your choice(s) marked here or otherwise
indicated to us will remain unless you state otherwise. However, if we do not hear from you we may share some of your information with affiliated companies and other companies with whom we have contracts to provide products and services. 

To exercise your choices or to modify any of your prior choices do one of the following: (1) fill out, sign and send back this form to us using the envelope
provided (you may want to make a copy for your records); or (2) call Kenmar Investor Services at 914-307-4000 to communicate the information to us. 
  

					
	Print Name:
                                        
        	 		 	
			
	Signature:
                                        
        	 		 	Date:

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