Document:

EX-10.01

Municipal Mortgage & Equity, LLC

621 East Pratt Street

Baltimore, Maryland 21202

T 443.263.2900 F 410.727.5387

March 3, 2008

	 	 	 	 	 
	Synovus Bank
	 	 
	12450 Roosevelt Boulevard,

	St. Petersburg, FL 33716
	 	 
	Attn:	 	Cathy Swanson,
	 	 	Senior Vice President
	
 
	 	Re:
	 	Notice and Request for Waiver
	
 
	 	 	 	 

Ladies and Gentlemen:

Reference is made to that certain Fourth Amended and Completely Restated Loan Agreement, dated
as of February 23, 2007, by and among Synovus Bank (formerly, United Bank and Trust), MMA Capital
Corporation, MuniMae TEI Holdings, LLC, MMA Mortgage Investment Corporation, MMA Construction
Finance, LLC, Municipal Mortgage & Equity, LLC MMA Financial Holdings, Inc. and MMA Financial, Inc.
(formerly, MuniMae Investment Services Corporation) (the “Agreement”). All capitalized
terms used but not defined herein shall have the meaning assigned to such terms in the Agreement.

Notice

This correspondence will serve as notice of the matters set forth herein given pursuant to the
requirements of Section 11.03 of the Agreement.

As we notified you by the Notice and Request for Waiver, dated November 2, 2007, and by prior
communications, our continuing efforts to restate certain of the historical GAAP financial
statements of Municipal Mortgage & Equity, LLC (“MuniMae”) and certain other matters have
delayed the completion of certain of our 2006 financial statements and periodic reports, as well as
the financial statements for certain of our affiliates.

We currently anticipate that we will file our annual report on Form 10-K for fiscal 2006 (the
“MuniMae 2006 Form 10-K”) on or before May 31, 2008.

        .

As a result and as we have informed you previously, we will be unable to comply with the
applicable financial reporting and related covenants set forth in Article VI and Section 6.06 of
the Agreement, including, without limitation, such covenants as they apply to the fiscal years 2007
and 2008.

Request for Waiver

We hereby request a waiver of compliance with the above-referenced covenants and any and all
Defaults or Events of Default with respect to the matters set forth herein, and such waiver shall
be in full force and effect until June 30, 2008; provided as follows: MuniMae shall deliver
audited financial statements for MuniMae as well as the MuniMae 2006 Form 10-K on or before May 31,
2008.

This notice is being delivered to you as confirmation of our earlier discussion with you on
the topics set forth above and our understanding that this situation dies not present any issues
under the Agreement. Please contact us if this is not the case.

Sincerely,

MUNICIPAL MORTGAGE & EQUITY, LLC

By: _/s/ Charles M. Pinckney     

	 	 	 	 	 
	 	 	Name:	 	 	Charles M. Pinckney
	 	 	Title: Chief Operating Officer

Please indicate your grant of the waivers requested above by signing below and returning a
copy of this page to me by e-mail or facsimile.

SYNOVUS BANK

	 	 	 	 	 	 	 	 	 
	By:	 	____/s/ Cathy Swanson __________________
	 	 	 
	 
	 	Name:	 	__Cathy Swanson _________________
	 
	 	 	 	 	 	 	 	 
	 
	 	Title:	 	__ Exec. Vice President_____________
	 
	 	 	 	 	 	 	 	 

Date:      3-3-08exhibit10_1.htm

    ADDvantage
Technologies Group, Inc.

    

    Incentive
Compensation Plan –

    Senior
Management

    

    
      	
               
      

            	
              Section
      I

            

    

    
      	
               
      

            	
              Plan
      Objectives

            

    

    

    
      	
               
      

            	
              This
      incentive compensation plan has been established to accomplish several
      important objectives:

            

    

    

    
      	
              ·  

            	
              Improve
      company profitability and
performance.

            

    

    
      	
              ·  

            	
              Provide
      participants with an incentive to contribute at the highest level in
      growing company profits.

            

    

    
      	
              ·  

            	
              Provide
      significant incentive opportunities to plan participants, in line with
      demonstrated results.

            

    

    
      	
              ·  

            	
              Enable
      the company to attract, motivate and retain high-caliber
      talent.

            

    

    

    

    Section
II

    Plan
Participants

    

    Participation
in this incentive compensation plan will be limited to those individuals in
positions to have direct and significant influence on company performance and
profitability.

    

    Initially,
participation in this plan will be limited to the following key
personnel:

    

    · Chairman
of the Board

    · President/CEO

    · Executive
Vice President, COO (position currently vacant)

    · Vice
President, Finance (CFO)

    

    Other
participants may be included in the plan, subject to approval by the
Compensation Committee of the Board of Directors.

    

    

    Section
III

    Basic
Plan Provisions

    

    
      	
              1.

            	
              Awards
      under this incentive plan will be based on actual earnings before interest
      and taxes (EBIT) in relation to established performance
      targets.

            

    

     

    
      	
              2.

            	
              Annually,
      a Target for EBIT will be established.  The Target will be based
      on the following basic formula:

            

    

    

    
      	
               
      

            	
              Previous
      Year’s Sales

            

    

    x      1.10                               

    =      Sales
Threshold

    x      16.0%  ROS*                               

    =      EBIT
Target

    

    
      	
               
      

            	
              For
      example, if sales in FY-07 were $65.6 million, then the EBIT Target would
      be set as follows:

            

    

    

    
      	
               
      

            	
              $65.6
      mil.  x  1.10  = $72.2
      mil.  x  16.0%  = $11.6
  mil.

            

    

    

    
      	
              3.

            	
              The
      primary basis for determining incentive awards will be actual EBIT in
      relation to the EBIT Target.  The following schedule will be
      used in determining incentive
awards:

            

    

    

    %
Target                           CEO                         COO                             CFO

                                                  (%
Salary)              
(%
Salary)                    (%
Salary)

    

                   80%                              15%                       
11.25%                          
7.5%

                   90%                              20%                       
15.0%                           10.0%

                 100%                              25%                        18.8%                          
12.5%

                 110%                              30%                       
22.5%                           15.0%

                 120%                              35%                       
26.3%                           17.5%

                 130%                             
40%                       
30.0%                           20.0%

                 140%                             
45%                       
33.8%                          
22.5%

                 150%                             
50%                       
37.5%                           25.0%

                 160+%                           
55%                       
41.3%                          
27.5%

    

    
      	
              4.

            	
              The
      incentive award as a percentage of salary for the Chairman will be the
      same as for the President/CEO.  For example, if the company
      earns 110% of Target, then the Chairman and President/CEO will earn a 30%
      incentive award, as a percentage of annual salary, and the COO will earn
      22.5% and the CFO will earn a 15% incentive
  award.

            

    

    

    

    

      

    

      
      *  EBIT
as a percentage of annual sales.

    

    
      
        
           

          

        

         

      

      
         

        
          

        

      

      
         

      

    

    

    
      	
               
      

            	
              Section
      IV

            

    

    
      	
               
      

            	
              Payment
      of Incentive Awards

            

    

    

    Incentive
awards under this plan will be paid following the close of the fiscal year, once
audited financial statements are available.  Normally, incentive
awards will be paid no later than December of the following fiscal
year.

    

    The
following guidelines will be observed in determining and paying incentive awards
to plan participants:

    

    
      	
              ·  

            	
              Incentive
      awards will be calculated as a percentage of the actual base salary paid
      to the participant during the year in which the award is
      earned.

            

    

    
      	
              ·  

            	
              The
      participant’s performance must be assessed as at least “meets
      expectations” or no incentive award will be earned or
  paid.

            

    

    
      	
              ·  

            	
              The
      participant must be employed by the company at the time the award is paid
      in order to be eligible for
payment.

            

    

    
      	
              ·  

            	
              The
      payment of incentive awards may not cause the company to earn less in
      net
      income than a 10% return on
sales.

            

    

    
      	
              ·  

            	
              All
      incentive awards will be approved by the Compensation Committee of the
      Board of Directors.

            

    

    

    

    
      	
               
      

            	
              Section
      V

            

    

    
      	
               
      

            	
              Plan
      Administration

            

    

    

    This
incentive compensation plan will be administered by the Compensation Committee
of the Board of Directors.  No member of the Compensation Committee
will be a participant in this plan.

    

    The
Compensation Committee will exercise the following responsibilities in the
administration of this plan:

    

    
      	
              ·  

            	
              Adopting
      the plan and approving its
provisions.

            

    

    
      	
              ·  

            	
              Revising
      the performance targets in the plan and the associated incentive
      opportunities available to
participants.

            

    

    
      	
              ·  

            	
              Monitoring
      and evaluating performance in relation to established performance
      targets.

            

    

    
      	
              ·  

            	
              Monitoring
      the plan, in relation to its objectives, and revising or discontinuing it
      as appropriate.

            

    

    
      	
              ·  

            	
              Approving
      incentive awards to participants.

            

    

    

    This
incentive plan may be modified or discontinued, at any time, without advance
notice to participants.  Moreover, this incentive plan does not
represent an employment contract nor a commitment by the company to the
employment of any plan participant for a specified term.

    

    
      	
               
      

            	
              *     *     *     *     *     *     *

            

    

    
      	
               
      

            	
              March
      5 – 2008

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