Document:

exv10w1

 

Exhibit 10.1

AMENDMENT NO. 2 TO AGREEMENTS

     This AMENDMENT NO. 2 TO AGREEMENTS (this “Amendment”), dated as of October 13, 2005 is among
the lending institutions from time to time party to the Loan Agreement (as defined below) (such
financial institutions, together with their respective successors and assigns, are referred to
hereinafter each individually as a “Lender” and collectively as “Lenders”), BANK OF AMERICA, N.A.,
as administrative agent and as collateral agent for the Lenders (in its capacity as administrative
agent and collateral agent, the “Agent”), AMERICAN COMMERCIAL LINES LLC, a limited liability
company formed under the laws of Delaware (referred to hereinafter as “ACL”), JEFFBOAT LLC, a
limited liability company formed under the laws of Delaware (“Jeffboat”), AMERICAN COMMERCIAL
TERMINALS LLC, a limited liability company formed under the laws of Delaware (referred to
hereinafter as “Terminals”), HOUSTON FLEET LLC, a limited liability company formed under the laws
of Delaware (referred to hereinafter as “Houston”), AMERICAN COMMERCIAL BARGE LINE LLC, a limited
liability company formed under the laws of Delaware (referred to hereinafter as “ACBL”), and
LOUISIANA DOCK COMPANY LLC, a limited liability company formed under the laws of Delaware (referred
to hereinafter as “Dock”; and together with ACL, Jeffboat, Terminals, ACBL and Houston, each,
individually a “Borrower” and collectively, the “Borrowers”) and each of the other Obligated
Parties (as defined in the Loan Agreement) signatory to this Amendment.

RECITALS

     WHEREAS, the Lenders, the Agent, the Syndication Agent, the Co-Documentation Agents, the
Borrowers and the other Obligated Parties entered into that certain Amended and Restated Loan
Agreement, dated as of February 11, 2005 (as amended, restated, renewed, extended, replaced,
supplemented, substituted or otherwise modified from time to time, the “Loan Agreement”); and

     WHEREAS, the Agent and the Obligated Parties entered into that certain Amended and Restated
Security Agreement, dated as of February 11, 2005 (as amended, restated, renewed, extended,
replaced, supplemented, substituted or otherwise modified from time to time, the “Security
Agreement”); and

     WHEREAS, the Lenders, the Agent, the Borrowers and the other Obligated Parties have agreed to
modify the terms of the Loan Agreement, Security Agreement and the other Loan Documents as set
forth in this Amendment.

     NOW, THEREFORE, in consideration of the foregoing and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged by the parties hereto,
the parties hereto hereby agree as follows:

     1. Definitions. Terms used in this Amendment which are capitalized and not otherwise defined
herein shall have the meanings ascribed to such terms in the Loan Agreement.

 

 

     2. Modifications To Loan Agreement. The Loan Agreement is hereby modified as follows:

     (a) Section 1.01 of the Loan Agreement is hereby amended as follows:

          (i) The definition of “Applicable Margin” is hereby amended in its entirety as
follows:

          ““Applicable Margin” means as of the Amendment No. 2 Effective Date,

          (a) with respect to Base Rate Loans and all other Obligations, 0% per annum,
and

          (b) with respect to LIBOR Loans, 1.25% per annum

          in each case subject to adjustment from time to time thereafter to the
applicable margin specified corresponding to the Consolidated Senior Leverage Ratio,
as set forth below, respectively:

	 	 	 	 	 	 	 	 	 
	Consolidated Senior	 	LIBOR Rate	 	Base Rate
	Leverage Ratio	 	Loans	 	Loans
	3 4.0:1.0
	 	 	1.75%	 	 	0.0	 
	3 3.0:1.0,but < 4.0:1.0
	 	 	1.50%	 	 	0.0	 
	3 2.0:1.0, but < 3.0:1.0
	 	 	1.25%	 	 	0.0	 
	< 2.0:1.0
	 	 	1.00%	 	 	0.0	 

          For the purpose of determining any such adjustments to the Applicable Margin,
the Consolidated Senior Leverage Ratio, shall be calculated for a four fiscal
quarter period of Holdings and established by the first day of the second month
following the end of each fiscal quarter of Holdings, beginning with the fiscal
quarter ending March 31, 2006 (the first adjustment will be for the month commencing
May 1, 2006). If an Event of Default exists at the time any reduction in the
Applicable Margin is to be implemented, such reduction shall not occur until the
first day of the calendar month following the date on which such Event of Default is
no longer continuing.”

          (ii) The definition of “Fee Letter” is hereby amended in its entirety as follows:

          ““Fee Letter” means that certain letter agreement dated as of February
11, 2005 among the Borrowers, the other Obligated Parties, the Syndication Agent and
the Agent, as supplemented by the Supplemental Fee Letter.”

          (iii) The definition of “Letter of Credit Subfacility” is hereby amended and restated
in its entirety as follows:

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          ““Letter of Credit Subfacility” means $20,000,000.”

          (iv) The definition of “Stated Termination Date” is hereby amended and restated in its
entirety as follows:

          ““Stated Termination Date” means October 13, 2010.”

          (v) The following definition(s) are hereby added to Section 1.01 of the Loan Agreement:

          ““Amendment No. 2 Effective Date” means October 13, 2005.”

          ““Supplemental Fee Letter” means that certain Supplemental Fee Letter
dated as of the Amendment No. 2 Effective Date among the Borrowers, the other
Obligated Parties and the Agent.”

     (b) Section 2.13 of the Loan Agreement is hereby amended and restated in its entirety as
follows:

          “(a) Unused Line Fee. Subject to Section 9.14, until the Revolving
Loans have been paid in full and this Agreement and the Commitments are terminated,
the Borrowers agree to pay to the Agent, for the account of the Lenders in
accordance with their respective Pro Rata Shares, on the first day of each calendar
quarter (commencing October 1, 2005) and on the Termination Date, an unused line fee
(the “Unused Line Fee”) equal to (i) if, as of the beginning of any fiscal calendar
quarter, the Consolidated Senior Leverage Ratio (calculated for a four fiscal
quarter period of Holdings and determined as of the last day of the immediately
preceding fiscal calendar quarter) is equal to or greater than 4.0:1.0,
three-eighths of one percent (.375%) per annum, multiplied by the amount by which
the Maximum Revolver Amount exceeded the sum of the average daily Aggregate Revolver
Outstandings during the immediately preceding calendar quarter or shorter period if
calculated for the first calendar quarter following the Amendment No. 2 Effective
Date or on the Termination Date, or (ii) if, as of the beginning of any fiscal
calendar quarter, the Consolidated Senior Leverage Ratio (calculated for a four
fiscal quarter period of Holdings and determined as of the last day of the
immediately preceding fiscal calendar quarter) is less than 4.0:1.0, one-quarter of
one percent (.25%) per annum, multiplied by the amount by which the Maximum Revolver
Amount exceeded the sum of the average daily Aggregate Revolver Outstandings during
the immediately preceding calendar quarter or shorter period if calculated for the
first calendar quarter following the Amendment No. 2 Effective Date or on the
Termination Date. Subject to Section 9.14, the Unused Line Fee shall be computed on
the basis of a 360 day year for the actual number of days elapsed. For purposes of
calculating the Unused Line Fee pursuant to this Section 2.13, any payment received
by the Agent (if received prior to 12:00 noon (Chicago, Illinois time)) shall be
deemed to be credited to the Borrowers’ Loan Account on the Business Day such
payment is received by the Agent.”

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     (c) The Loan Agreement is hereby amended by adding the following new Section 2.14 immediately
following Section 2.13:

          “2.14 Increase of Revolver Amount.

          (a) ACL, on behalf of the Borrowers, may at any time deliver a written request
to Agent to increase the Maximum Revolver Amount. Any such written request shall
specify the amount of the increase in the Maximum Revolver Amount that Borrowers are
requesting, provided, that, (i) in no event shall the aggregate amount of any such
increase in the Maximum Revolver Amount cause the Maximum Revolver Amount to exceed
$350,000,000, (ii) such request shall be for an increase of not less than
$50,000,000, (iii) any such request shall be irrevocable, and (iv) in no event shall
more than one such written request be delivered to Agent in any year. At the time
of the sending of such notice, ACL (in consultation with the Agent) shall specify
the time period within which each Lender is requested to respond (which shall in no
event be less than thirty (30) Business Days from the date of delivery of such
notice to the Lenders).

          (b) Upon the receipt by Agent of any such written request, Agent shall promptly
notify each of the Lenders of such request and each Lender shall have the option
(but not the obligation) to increase the amount of its Commitment by an amount up to
its Pro Rata Share of the amount of the increase in the Maximum Revolver Amount
requested by ACL as set forth in the notice from Agent to such Lender. Each Lender
shall notify Agent within the agreed upon time period after the receipt of such
notice from Agent whether it is willing to so increase its Commitment, and if so,
the amount of such increase; provided, that, no Lender shall be obligated to provide
such increase in its Commitment and the determination to increase the Commitment of
a Lender shall be within the sole and absolute discretion of such Lender. If the
aggregate amount of the increases in the Commitments received from the Lenders does
not equal or exceed the amount of the increase in the Maximum Revolver Amount
requested by ACL, Agent may seek additional increases from Lenders or Commitments
from such Eligible Assignees as it may determine, after consultation with ACL. In
the event Lenders (or Lenders and any such Eligible Assignees, as the case may be)
have committed in writing to provide increases in their Commitments or new
Commitments in an aggregate amount in excess of the increase in the Maximum Revolver
Amount requested by ACL or permitted hereunder, Agent shall then have the right to
allocate such commitments, first to Lenders and then to Eligible Assignees, in such
amounts and manner as Agent may determine, after consultation with ACL.

          (c) The Maximum Revolver Amount shall be increased by the amount of the
increase in Commitments from Lenders or new Commitments from Eligible Assignees, in
each case selected in accordance with Section 2.14(a) above, for which Agent has
received acceptances thirty (30) days after the date of the request by ACL for the
increase or such earlier date as Agent and ACL may agree (but subject to the
satisfaction of the conditions set forth below), whether or

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not the aggregate amount of the increase in Commitments and new Commitments, as
the case may be, equal or exceed the amount of the increase in the Maximum Revolver
Amount requested by ACL in accordance with the terms hereof, effective on the date
that each of the following conditions have been satisfied:

          (i) Agent shall have received from each Lender or Eligible Assignee that is
providing an additional Commitment as part of the increase in the Maximum Revolver
Amount, an Assignment and Acceptance duly executed by such Lender or Eligible
Assignee and each Borrower, provided, that, the aggregate Commitments set forth in
such Assignment and Acceptance(s) shall be not less than the requested increase in
the Maximum Revolver Amount;

          (ii) the conditions precedent to the making of Revolving Loans set forth in
Section 4.02 of the Loan Agreement shall be satisfied as of the date of the increase
in the Maximum Revolver Amount, both before and after giving effect to such
increase;

          (iii) Agent shall have received an opinion of counsel to Borrowers in form and
substance and from counsel reasonably satisfactory to Agent and Lenders addressing
such matters as Agent may reasonably request (including an opinion as to no
conflicts with other Indebtedness);

          (iv) such increase in the Maximum Revolver Amount on the date of the
effectiveness thereof shall not violate any applicable law, regulation or order or
decree of any court or other Governmental Authority and shall not be enjoined,
temporarily, preliminarily or permanently; and

          (v) there shall have been paid to the Agent and each Lender (including any
Eligible Assignee delivering an Assignment and Acceptance as provided for above)
providing an additional Commitment in connection with such increase in the Maximum
Revolver Amount all fees and expenses due and payable to such Person pursuant to
Section 9.04 of the Loan Agreement.

          (d) This Section shall supersede any provisions in Section 9.03 to the
contrary.

          (e) As of the effective date of any such increase in the Maximum Revolver
Amount, each reference to the term Maximum Revolver Amount herein, and in any of the
other Loan Documents shall be deemed amended to mean the amount of the Maximum
Revolver Amount specified in the most recent written notice from Agent to ACL of the
increase in the Maximum Revolver Amount.”

     (d) Clause (c) of Section 5.04 of the Loan Agreement is hereby amended and restated in its
entirety as follows:

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          “(c) commencing with the first fiscal month after the month in which Unused
Availability on any date falls below $40,000,00, as soon as practicable, but in no
event later than 30 days after the end of each fiscal month of Holdings (other than
any fiscal month which is also the end of a fiscal quarter for Holdings), monthly
unaudited consolidated balance sheets of Holdings and its Subsidiaries and related
consolidated statements of earnings and cash flows of the Holdings and its
Subsidiaries for the prior fiscal month and the then elapsed portion of the fiscal
quarter, fairly presenting the financial condition and results of operations of the
Holdings and its Subsidiaries on a consolidated basis in accordance with GAAP,
subject to normal year-end audit adjustments and the absence of footnotes; provided,
however, that if Unused Availability is greater than $75,000,000 for more than 30
consecutive days and no Event of Default exists and is continuing, then the
Obligated Parties may cease delivering monthly financials under this clause (c)
unless Unused Availability again falls below $40,000,000.”

     (e) Clause (a) of Section 5.06 of the Loan Agreement is hereby amended and restated in its
entirety as follows:

          “(a) so long as no Event of Default exists and Unused Availability is greater
than $75,000,000, to visit and inspect the financial records and the Collateral of
the Obligated Parties or any Subsidiary one (1) time per fiscal year at reasonable
times and upon reasonable notice; after an Event of Default or if Unused
Availability is $75,000,000 or less to visit and inspect the financial records and
the Collateral of the Obligated Parties or any Subsidiary as often and at such times
as Agent and Lenders elect,”

     (f) Clause (c) of Section 5.06 of the Loan Agreement is hereby amended and restated in its
entirety as follows:

          “(c) to conduct evaluations and appraisals of (i) the Borrowers’ practices in
the computation of the Borrowing Base and (ii) the assets included in the Borrowing
Base (except that Lender shall conduct a Vessel Appraisal if and only if an Event of
Default exists and is continuing or if Unused Availability is $75,000,000 or less
for three (3) days during any calendar month) and, in connection with the foregoing,
to pay the reasonable fees and expenses in connection therewith,”

          (g) Clause (c) of Section 6.01 of the Loan Agreement is hereby amended to delete therefrom the
reference to “$3,000,000” and to replace therefor a reference to “$7,500,000”.

          (h) Clause (f) of Section 6.01 of the Loan Agreement is hereby amended to delete therefrom the
reference to “$1,000,000” and to replace therefor a reference to “$20,000,000”.

          (i) Clause (l) of Section 6.01 of the Loan Agreement is hereby amended to

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delete therefrom the reference to “$1,000,000” and to replace therefor a reference to
“$20,000,000”.

          (j) Clause (n) of Section 6.02 of the Loan Agreement is hereby amended to delete therefrom the
reference to “$1,000,000” and to replace therefor a reference to “$20,000,000”.

          (k) Clause (l) of Section 6.03 of the Loan Agreement is hereby amended to delete therefrom the
reference to “$3,500,000” and to replace therefor with the following: “if Unused Availability is
greater than or equal to $40,000,000, $25,000,000; if Unused Availability is less than $40,000,000,
$15,000,000. Notwithstanding the forgoing, if at the time Unused Availability falls below
$40,000,000 and there are Investments in excess of $15,000,000 outstanding which were previously
permitted under this Section, then the existence of such Investments which were previously
permitted shall not cause a Default or an Event of Default unless for a ninety (90) consecutive day
period, Unused Availability is less than $40,000,000 and the outstanding Investments exceeds
$15,000,000.”

          (l) Clause (b) of Section 6.04 of the Loan Agreement is hereby amended and restated in its
entirety as follows:

          “(b) Neither the Obligated Parties nor any Subsidiary shall engage in any
Asset Sale otherwise permitted under paragraph (a) above unless (1) such Asset Sale
is for consideration at least 85% of which is cash, (2) such consideration is at
least equal to the fair market value of the assets being sold, transferred, leased
or disposed of, and (3) the value (which shall be equal to the amount which the
Lenders would advance against such assets being sold pursuant to the terms of this
Agreement) of all assets sold, transferred, leased or disposed of pursuant to this
paragraph (b) shall not exceed $20,000,000 in any fiscal year (“Annual Cap”);
provided, that the provisions of this Section 6.04(b) shall not apply to Asset Sales
permitted by clauses (A) and (B) of Section 6.04(a)(iii) and the limitations set
forth in Section 6.04(b)(iii) shall not apply to the sale by any Obligated Party of
its Equity Interests in any non-Domestic Subsidiaries or any Asset Sales by any
non-Domestic Subsidiary. Any portion of the Annual Cap not used in any fiscal year
shall not be permitted to be carried over to the any subsequent fiscal year.”

          (m) Section 6.04 of the Loan Agreement is hereby amended by adding the following new Section
6.04(c) immediately following Section 6.04(b):

          “(c) Permitted Acquisitions. Notwithstanding anything to the contrary
contained in the Loan Agreement, so long as no Default or Event of Default has
occurred and is continuing and shall not have occurred after giving effect to any of
the transactions otherwise permitted pursuant to this Section 2(l), Holdings or any
of its Subsidiaries may acquire all or a substantial part of the assets or property
or Equity Interests of any Person or any business unit or division of any Person
(the “Target”), subject to the satisfaction of each of the following conditions (in
each case, a “Permitted Acquisition”):

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               (i) Agent shall have received at least 15 Business Days’ prior written notice
of such proposed Permitted Acquisition, which notice shall include a reasonably
detailed description of such proposed Permitted Acquisition or shall include a copy
of the acquisition agreement;

               (ii) the Target’s assets shall only comprise a business of the type engaged in
by Borrowers as of the date hereof or ancillary businesses reasonably related to, or
strategically important to, the business engaged in by Borrowers as of the date
hereof; provided however that the Accounts, Inventory, Equipment and Vessels of the
Target shall not be included in the Borrowing Base without the prior written consent
of Agent;

               (iii) (A) if the Borrowers, after giving effect to the Permitted Acquisition,
shall have pro forma Unused Availability of not less than $25,000,000 for the twelve
(12) months following the date of the Permitted Acquisition, as determined by the
Chief Financial Officer or Treasurer of ACL, the calculation of which shall be
reasonably acceptable to Agent, then the total cash and noncash consideration
(including, without limitation, assumption of Indebtedness) for all Permitted
Acquisitions during each fiscal year shall not exceed $50,000,000 in the aggregate;
and (B) if the Borrowers, after giving effect to the Permitted Acquisition, shall
have (y) a pro forma projected Consolidated Senior Leverage Ratio of less than
4.25:1.0 as of the last day of each of the four (4) fiscal quarters following the
date of the Permitted Acquisition and (z) pro form Unused Availability of not less
than $40,000,000 during the twelve (12) month period following the date of the
Permitted Acquisition, in each case, as determined by the Chief Financial Officer or
Treasurer of ACL, the calculation of which shall be reasonably acceptable to Agent,
then the total cash and noncash consideration (including, without limitation,
assumption of Indebtedness) for all Permitted Acquisitions shall not be limited ;

               (iv) concurrently with the closing of any Permitted Acquisition, Agent will be
granted a first priority perfected security interest in and lien on (subject to
security interests and liens permitted pursuant to Section 9.8 of the Loan
Agreement) all assets acquired by a Borrower or Guarantor as of the date of such
Permitted Acquisition or the capital stock of the Target on the same terms and
conditions as set forth in Security Agreement or Pledge Agreement, as applicable,
and the Target shall have executed such documents and taken such actions as may be
reasonably required by Agent in connection therewith;

               (v) concurrently with delivery of the notice referred to in clause (i) above,
Borrowers shall have delivered to Agent, in form and substance reasonably
satisfactory to Agent, a pro forma consolidated balance sheet, income statement and
cash flow statement of Holdings and its Subsidiaries giving effect to such Permitted
Acquisition, based on Holding’s most recent quarterly financial statements and on
assumptions believed by the Borrowers to be reasonable at the time made;

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               (vi) on or prior to the date of such Permitted Acquisition, Agent shall have
received copies of the acquisition agreement, related agreements and instruments,
opinions, certificates, lien search results and other documents reasonably requested
by Agent; and

               (vii) concurrently with consummation of the Permitted Acquisition, ACL shall
have delivered to Agent a certificate stating that the conditions set forth in
clauses (i) through (iv) above have been satisfied and that ACL has delivered to the
Agent the documents requested in clauses (v) and (vi) above.”

          (n) Clause (a) of Section 6.05 of the Loan Agreement is hereby amended and restated in its
entirety as follows:

     “(a) Declare or pay, directly or indirectly, any dividend or make any other
distribution (by reduction of capital or otherwise), whether in cash, property,
securities or a combination thereof, with respect to any of its Equity Interests
(other than non-cash distributions of restricted Equity Interests in any Obligated
Party or any options to purchase Equity Interests in any Obligated Party granted to
any employees or directors of any Obligated Party) or directly or indirectly redeem,
purchase, retire or otherwise acquire for value (or permit any Subsidiary to
purchase or acquire) any of its Equity Interest or set aside any amount for any such
purpose; provided, however, that after the Amendment No. 2
Effective Date, (i) any Borrower or Guarantor may declare and pay dividends or make
other distributions ratably to its shareholders of up to $25,000,000 in the
aggregate provided that as of the date that any such dividend or distribution is
declared and paid (A) no Default or Event of Default exists and is continuing or
would exist after giving effect to any such dividend or distribution, (B) Agent and
Lenders have received the financial statements required to be delivered under
Section 5.04(a) (the “Audited Financial Statements”) for the immediately preceding
fiscal year, (C) for the thirty (30) consecutive day period immediately prior to
such date and after giving effect to any such dividend or distribution, Borrowers
have Unused Availability of not less than $25,000,000, (D) after giving effect to
such dividend or distribution, the aggregate amount of such dividends and
distributions shall not be greater than $25,000,000, and (E) after giving effect to
such dividend or distribution, Borrowers shall have pro forma Unused Availability of
not less than $25,000,000 during the twelve (12) months following the date of such
dividend or distribution, as determined by the Chief Financial Officer or Treasurer
of ACL, the calculation of which shall be reasonably acceptable to Agent, and (ii)
any Borrower or Guarantor may declare and pay dividends or make other distributions
ratably to its shareholders and without limitation as to amount provided that as of
the date that any such dividend or distribution is declared and paid (A) no Default
or Event of Default exists and is continuing or would exist after giving effect to
any such dividend or distribution, (B) Agent and Lenders have received the Audited
Financial Statements for the immediately preceding fiscal year, (C) for the thirty
(30) consecutive day period immediately prior to

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such date and after giving effect to any such dividend or distribution,
Borrowers have Unused Availability of not less than $50,000,000, and (D) after
giving effect to such dividend or distribution, Borrowers shall have pro forma
Unused Availability of not less than $50,000,000 during the twelve (12) months
following the date of such dividend or distribution and shall have pro forma
Consolidated Senior Leverage Ratio of not greater than 4.25:1.0 as of the last day
of each of the four (4) fiscal quarters ending after the date such dividend or
distribution, in each case, as determined by the Chief Financial Officer or
Treasurer of ACL, the calculations of which shall be reasonably acceptable to Agent.
In addition to and not in limitation of the foregoing, so long as no Default or
Event of Default exists and is continuing, in the event that Non-U.S. Persons (as
defined below) acquire Equity Interests in any Obligated Party equal to or in excess
of twenty-five (25%) percent, in the aggregate, of such Obligated Party’s issued and
outstanding Equity Interests, such Obligated Party shall be permitted to repurchase
all or some of the shares acquired in the most recent trade(s) by Non-U.S. Persons
until such time as, after giving effect to such repurchase, such Non-U.S. Persons’
Equity Interests in such Obligated Party is between 24% and 25%, in the aggregate,
of the Equity Interests of such Obligated Party. As used herein, “Non-U.S. Persons”
shall mean any Person that is not a “United States person” as defined under Section
7701(a)(30) of the Code.”

          (o) Clause (D) of Section 6.08(b) of the Loan Agreement is hereby amended and restated in its
entirety as follows:

     “(D) in addition to the prepayments permitted to be made with proceeds of the
Holdings initial public offering pursuant to the letter agreement Re: Consent to
Senior Notes Prepayment dated as of July 1, 2005 among Obligated Parties and Agent,
from and after the Amendment No. 2 Effective Date (1) Obligated Parties may prepay
principal Indebtedness under the Maritime Lien Notes or the Senior Notes in an
aggregate amount not to exceed $25,000,000 per annum provided that (v) ACL provides
Agent with ten (10) days prior written notice of any intended payment and as of the
date of any such payment, (w) no Default or Event of Default exists and is
continuing or would exist after giving effect to any such dividend or distribution,
(x) for the thirty (30) consecutive day period immediately prior to such date and
after giving effect to any such payment, Borrowers have Unused Availability of not
less than $25,000,000, (y) after giving effect to such prepayment, the aggregate
amount of such prepayments for such year shall not be greater than $25,000,000, and
(z) after giving effect to such prepayment, Borrowers shall have pro forma Unused
Availability of not less than $25,000,000 for the twelve (12) months following the
date of such dividend or distribution, as determined by the Chief Financial Officer
or Treasurer of ACL, the calculation of which shall be reasonably acceptable to
Agent, and (2) Obligated Parties may prepay principal Indebtedness under the
Maritime Lien Notes or the Senior Notes without limitation as to amount provided
that (w) ACL provides Agent with ten (10) days prior written notice of any intended
payment and as of the date of any such payment, (x) no Default or Event of Default
exists

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and is continuing or would exist after giving effect to any such dividend or
distribution, (y) for the thirty (30) consecutive day period immediately prior to
such date and after giving effect to any such payment, Borrowers have Unused
Availability of not less than $50,000,000, and (z) after giving effect to such
prepayment, Borrowers shall have pro forma Unused Availability of not less than
$50,000,000 during the twelve (12) months following the date of such prepayment and
pro forma Consolidated Senior Leverage Ratio of not greater than 4.25:1.0 as of the
last day of each of the four (4) fiscal quarters ending after the date of such
prepayment, in each case, as determined by the Chief Financial Officer or Treasurer
of ACL, the calculation of which shall be reasonably acceptable to Agent.”

          (p) Section 6.09 of the Loan Agreement is hereby amended and restated in its entirety as
follows:

                    “6.09 [Intentionally omitted].”

          (q) Section 6.10 of the Loan Agreement is hereby amended and restated in its entirety as
follows:

                    “6.10 [Intentionally omitted].”

          (r) Section 6.11 of the Loan Agreement is hereby amended and restated in its entirety as
follows:

               “6.11 Consolidated Senior Leverage Ratio. In the event that Unused
Availability is less than $40,000,000 at any time, permit the Consolidated Senior
Leverage Ratio as of the end of any fiscal quarter thereafter to be in excess of
4.25:1.0; provided, however, that if Unused Availability is greater than $40,000,000
for more than 30 consecutive days and no Event of Default then exists, then the
Consolidated Senior Leverage Ratio shall then cease being tested under this Section
6.11 unless Unused Availability again falls below $40,000,000.”

          (s) Clause (f) of Section 7.01 of the Loan Agreement is hereby amended to delete therefrom the
reference to “$2,500,000” and to replace therefore a reference to “$5,000,000”.

          (t) Increase in Non-Ratable Loans. Notwithstanding anything to the contrary contained
in Section 8.14(a)(i), the Agent may on any Settlement Date permit Non-Ratable Loans in an
aggregate principal amount not to exceed Fifteen Million Dollars ($15,000,000) to remain
outstanding, while requiring Settlement of the other outstanding Non-Ratable Loans.

          3. Modifications To Security Agreement.

          (a) Section 4.13(a) of the Security Agreement is hereby amended to delete from the seventh
sentence thereof the clause “and withdrawals by such Grantor shall not be permitted.” and to
replace therefor the phrase “that Company may direct the disposition of funds in any

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lockbox or Blocked Account until the Collateral Agent has delivered a Control Notice to the
depository bank (as defined below), and after the date on which the Collateral Agent notifies the
depository bank that it is withdrawing such Control Notice.

     (b) Section 4.13(a) of the Security Agreement is further hereby amended to insert the
following paragraph to the end of such Section:

     “Notwithstanding anything to the contrary contained in the Security Agreement or any other
Loan Document, upon the occurrence and during the continuance of a Cash Dominion Trigger Event (as
defined below), Agent may deliver a Control Notice (as defined below)to the depository bank at
which the Blocked Account is maintained and Agent shall, at the request of Borrower, rescind such
Control Notice at such time that a Cash Dominion Trigger Event does not exist for a period of not
less than ninety (90) consecutive days. Each Obligated Party agrees that, from and after the date
on which Agent shall have delivered a Control Notice to the depository bank(s) at which the Blocked
Accounts are located and, until such time, if any, as such Control Notice is rescinded by Agent in
accordance with the immediately preceding sentence, all payments made to such Blocked Accounts or
other funds received and collected by Agent or any Lender, whether in respect of the Accounts
Receivables, as proceeds of Inventory or other Collateral or otherwise shall be treated as payments
to Agent and Lenders in respect of the Obligations and therefore shall constitute the property of
Agent and Lenders to the extent of the then outstanding Obligations. Neither Agent nor any Lender
assumes any responsibility for any Blocked Account arrangement, including without limitation, any
claim of accord and satisfaction or release with respect to deposits accepted by any bank
thereunder. Alternatively, upon the occurrence of a Cash Dominion Trigger Event, Agent may
establish depository accounts (collectively, the “Depository Accounts”) in the name of Agent at a
bank or banks for the deposit of such funds and Credit Parties shall deposit all proceeds of
Collateral or cause same to be deposited, in kind, in such Depository Accounts of Agent in lieu of
depositing same to the Blocked Accounts. As used in this Section 3, “Cash Dominion Trigger Event”
shall mean, as of any date of determination, (a) the occurrence and continuance of a Default or
Event of Default or (b) Unused Availability on such date being less than $40,000,000; and “Control
Notice” shall mean a written notice delivered instructing the depository bank at which the Blocked
Account is maintained to comply with instructions originated by Agent with respect to the deposit
account that is covered thereby without further consent of Borrower or any Guarantor.”

     4. Acknowledgments. Each Obligated Party acknowledges and represents that:

     (a) after giving effect to this Amendment, no Default or Event of Default under the Loan
Documents shall have occurred;

     (b) as of the date of this Amendment, no default by the Lenders or the Agent in the
performance of their respective duties under the Loan Agreement, the Security Agreement or the
other Loan Documents has occurred;

     (c) after giving effect to this Amendment, all representations and warranties contained herein
and in the Loan Documents are true and correct as though made on and as of the date of this
Amendment, except to the extent any such representation or warranty is made as of a specified date,
in which case such representation or warranty shall have been true and

12

 

correct as of such date, after giving effect to this Amendment,;

     (d) all necessary actions and proceedings required by the Loan Agreement in connection with
this Amendment, applicable law or regulation and the transactions contemplated thereby have been
duly and validly taken in accordance with the terms thereof, and all required consents thereto
under any agreement, document or instrument to which the Obligated Parties are a party, and all
applicable consents or approvals of governmental authorities, have been obtained; and

     (e) this Amendment is a modification of an existing obligation and is not intended to be a
novation.

     5. Continued Effectiveness of Loan Documents. Each of the Obligated Parties hereby (a)
confirms and agrees that each Loan Document to which it is a party is, and shall continue to be, in
full force and effect without any defense, claim, counterclaim, right or claim of set-off and is
hereby ratified and confirmed in all respects except that on and after the Amendment Effective Date
all references in any such Loan Document to “the Loan Agreement”, “thereto”, “thereof”,
“thereunder” or words of like import referring to the Loan Agreement or Security Agreement shall
mean the Loan Agreement or Security Agreement, as the case may be, as amended by this Amendment,
and (b) confirms and agrees that to the extent that any such Loan Document purports to assign or
pledge to Agent, or to grant to Agent a security interest in or lien on, any collateral as security
for the Obligations of the Obligated Parties from time to time existing in respect of the Loan
Agreement and the Loan Documents, such pledge, assignment and/or grant of the security interest or
lien is hereby ratified and confirmed in all respects.

     6. Receipt of Proceeds of ACL, Inc. IPO. Within six (6) Business Days from the Amendment No.
2 Effective Date, ACL, Inc. shall have received the proceeds from an initial public offering of its
common stock, with such proceeds being used by the Borrowers to make the Senior Notes Prepayment as
provided for under the letter Re: Consent to Senior Notes Prepayment dated as of July 1, 2005 among
Obligated Parties and Agent, and to make a mandatory prepayment to Agent, for the benefit of
Lenders, in an amount of not less than $55,000,000. Agent shall apply such prepayment against the
Obligations in such order and manner as Agent may elect.

     7. Conditions To Effectiveness. This Amendment shall become effective only upon satisfaction
in full of the following conditions precedent (the first date upon which all such conditions have
been satisfied being herein called the “Amendment Effective Date”):

     (a) ACL, Inc. shall have completed an initial public offering of its common stock.

     (b) No Event of Default shall have occurred and be continuing on the Amendment Effective Date
or result from this Amendment becoming effective in accordance with its terms.

     (c) The Agent shall have received counterparts of this Amendment which bear the signatures of
the Borrowers, the Guarantors and the Agent on behalf of the Lenders.

13

 

     (d) The Borrowers shall have paid to Agent, for itself, the Lenders or any other applicable
Credit Provider or Person, the fees due under and pursuant to the Supplemental Fee Letter.

     8. Miscellaneous.

     (a) The validity, interpretation and enforcement of this Amendment in any dispute arising out
of the relationship between the parties hereto, whether in contract, tort, equity or otherwise
shall be governed by the internal laws of the State of New York, without reference to the conflicts
of law principles thereof.

     (b) This Amendment and the Loan Documents constitute the sole agreement of the parties with
respect to the subject matter thereof and supersede all oral negotiations and prior writings with
respect to the subject matter thereof. No amendment of this Amendment, and no waiver of any one or
more of the provisions hereof shall be effective unless set forth in writing and signed by the
parties hereto. This Amendment shall constitute a Loan Document for all purposes of the Loan
Agreement and the other Loan Documents.

     (c) The illegality, unenforceability or inconsistency of any provision of this Amendment or
any Loan Document shall not in any way affect or impair the legality, enforceability or consistency
of the remaining provisions of this Amendment or the Loan Documents.

     (d) This Amendment and the Loan Documents are intended to be consistent. However, in the
event of any inconsistencies among this Amendment and any of the Loan Documents, the terms of this
Amendment, then the Loan Agreement, shall control.

     (e) At Agent’s request, the Obligated Parties shall execute and deliver such additional
documents and take such additional actions as Agent reasonably requests to effectuate the
provisions and purposes of this Amendment and to protect and/or maintain perfection of Agent’s and
Lenders’ security interests in and liens upon the Collateral.

     (f) This Amendment shall be binding upon and inure to the benefit of each of the parties
hereto and their respective successors and assigns.

     (g) This Amendment may be executed in any number of counterparts and by the different parties
on separate counterparts. Each such counterpart shall be deemed an original, but all such
counterparts shall together constitute one and the same agreement.

[SIGNATURE PAGES FOLLOW]

14

 

           IN WITNESS WHEREOF, the parties have entered into this Amendment on the date first above
written.

	 	 	 	 	 	 	 
	 	 	BORROWERS:
	 
	 	 	 	 	 	 
	 	 	AMERICAN COMMERCIAL BARGE LINE LLC
	 	 	AMERICAN COMMERCIAL LINES LLC
	 	 	AMERICAN COMMERCIAL TERMINALS LLC
	 	 	HOUSTON FLEET LLC
	 	 	LOUISIANA DOCK COMPANY LLC
	 	 	JEFFBOAT LLC
	 
	 	 	 	 	 	 
	 
	 	By:	 	/s/ Christopher A. Black

	 	 
	

	 	Printed:	 	Christopher A. Black	 	 
	 

	 	Title:
	 	Senior Vice President and Chief Financial Officer	 	 
	 
	 	 	 	 	 	 
	 	 	GUARANTORS:
	 
	 	 	 	 	 	 
	 	 	ACBL LIQUID SALES LLC
	 	 	ACL FINANCE CORP.
	 	 	AMERICAN BARGE LINE COMPANY
	 	 	AMERICAN COMMERCIAL LINES INC.
	 	 	AMERICAN COMMERCIAL LINES INTERNATIONAL LLC
	 	 	AMERICAN COMMERCIAL LOGISTICS LLC
	 	 	AMERICAN COMMERCIAL TERMINALS–MEMPHIS LLC
	 	 	COMMERCIAL BARGE LINE COMPANY
	 	 	ORINOCO TASA LLC
	 	 	ORINOCO TASV LLC
	 
	 	 	 	 	 	 
	 
	 	By:	 	/s/ Christopher A. Black

	 	 
	

	 	Printed:	 	Christopher A. Black	 	 
	 

	 	Title:
	 	Senior Vice President and Chief Financial Officer	 	 

[SIGNATURES CONTINUED ON NEXT PAGE]

 

 

[SIGNATURES CONTINUED FROM PREVIOUS PAGE]

	 	 	 	 	 	 	 
	 	 	ADMINISTRATIVE AGENT AND COLLATERAL AGENT:	 	 
	 
	 	 	 	 	 	 
	 	 	BANK OF AMERICA, N. A.,	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Robert Anchundia

	 	 
	 

	 	Name:
	 	Robert Anchundia	 	 
	 

	 	Title:
	 	Vice President	 	 

[SIGNATURES OF LENDERS FOLLOW]

 

 

	 	 	 	 	 	 	 
	 	 	BANK OF AMERICA, N. A.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Robert Anchundia

	 	 
	 

	 	Name:
	 	Robert Anchundia	 	 
	 

	 	Title:
	 	Vice President	 	 

 

 

	 	 	 	 	 	 	 
	 	 	MERRILL LYNCH CAPITAL,	 	 
	 
	 	 	 	 	 	 
	 	 	a division of Merrill Lynch Business Financial Services Inc.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/Andrew C. Sepe

	 	 
	 

	 	Name:
	 	          Andrew C. Sepe	 	 
	 

	 	Title:
	 	           Vice President	 	 

 

 

	 	 	 	 	 	 	 
	 	 	THE CIT GROUP/BUSINESS CREDIT, INC.	 	 
	 
	 	 	 	 	 	 

	 

	 	By:	 	/s/ Carl Giordano

	 	 
	 

	 	Name:
	 	          Carl Giordano	 	 
	 

	 	Title:
	 	           Assistant Vice President	 	 

 

 

	 	 	 	 	 	 	 
	 	 	WELLS FARGO FOOTHILL, LLC	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Michael P. Baranowski

	 	 
	 

	 	Name:
	 	          Michael P. Baranowski	 	 
	 

	 	Title:
	 	           Vice President	 	 

 

 

	 	 	 	 	 	 	 
	 	 	UBS LOAN FINANCE LLC	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Wilfred V. Saint

	 	 
	 

	 	Name:
	 	      Wilfred V. Saint	 	 
	 

	 	Title:
	 	      Director, Banking Products Services, US	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Joselin Fernandes

	 	 
	 

	 	Name:
	 	Joselin Fernandes	 	 
	 

	 	Title:
	 	Associate Director, Banking Products Services, US	 	 

 

 

	 	 	 	 	 	 	 
	 	 	NATIONAL CITY BUSINESS CREDIT, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Jason Hanes

	 	 
	 

	 	Name:
	 	           Jason Hanes	 	 
	 

	 	Title:
	 	           Senior Associate	 	 

 

 

	 	 	 	 	 	 	 
	 	 	WACHOVIA BANK, NATIONAL ASSOCIATION	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Marc J. Breier

	 	 
	 

	 	Name:
	 	          Marc J. Breier	 	 
	 

	 	Title:
	 	           Director	 	 

 

 

	 	 	 	 	 	 	 
	 	 	GENERAL ELECTRIC CAPITAL CORPORATION	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Dwayne L. Coker

	 	 
	 

	 	Name:
	 	           Dwayne L. Coker	 	 
	 

	 	Title:
	 	           Duly Authorized Signatory	 	 

 

 

	 	 	 	 	 	 	 
	 	 	JPMORGAN CHASE BANK, N.A.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Jeffrey W. Swartz

	 	 
	 

	 	Name:
	 	           Jeffrey W. Swartz	 	 
	 

	 	Title:
	 	           Vice President	 	 

 

 

	 	 	 	 	 	 	 
	 	 	LASALLE BUSINESS CREDIT LLC	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Susan M. Davis

	 	 
	 

	 	Name:
	 	      Susan M. Davis	 	 
	 

	 	Title:
	 	      Vice President<PAGE>
                                                                    EXHIBIT 10.1

                              EMPLOYMENT AGREEMENT

         AGREEMENT dated as of October 17, 2005 between BRIGHTPOINT, INC., an
Indiana corporation (the "Employer" or the "Company"), and ANTHONY W. BOOR (the
"Employee").

                              W I T N E S S E T H :
                              - - - - - - - - - -

         WHEREAS, the Employer desires to employ the Employee as its Executive
Vice President, Chief Financial Officer and Treasurer to be assured of his
services as such on the terms and conditions hereinafter set forth; and

         WHEREAS, the Employee is willing to accept such employment on such
terms and conditions;

         NOW, THEREFORE, in consideration of the mutual covenants and agreements
hereinafter set forth, and intending to be legally bound hereby, the Employer
and the Employee hereby agree as follows:

         I. Term. Employer hereby agrees to employ Employee, and Employee hereby
agrees to serve Employer for a three-year period commencing effective as of the
date of this Agreement (the "Effective Date") (such period being herein referred
to as the "Initial Term," and any year commencing on the Effective Date or any
anniversary of the Effective Date being hereinafter referred to as an
"Employment Year"). After the Initial Term and on the last day of any Employment
Year thereafter, this Agreement shall be automatically renewed for successive
one year periods (each such period being referred to as a "Renewal Term"),
unless, more than ninety (90) days prior to the expiration of the Initial Term
or any Renewal Term, either the Executive or the Company gives written notice
that employment will not be renewed ("Notice of Non-Renewal"), whereupon the
term of the Executive's employment shall cease upon the expiration of the
Initial Term or the then current Renewal Term, as the case may be.

         II. Employee Duties.

         A. During the term of this Agreement, the Employee shall have the
duties and responsibilities attached hereto as Exhibit A, reporting directly to
the Chief Executive Officer of Employer and the Board of Directors of the
Employer (the "Board"). It is understood that such duties and responsibilities
shall be reasonably related to the Employee's position.

         B. The Employee shall devote substantially all of his business time,
attention, knowledge and skills faithfully, diligently and to the best of his
ability, in furtherance of the business and activities of the Company. The
principal place of performance by the Employee of his duties hereunder shall be
the Company's principal executive offices, although the Employee may be required
to travel outside of the area where the Company's principal executive offices
are located in connection with the business of the Company.

<PAGE>

         III. Compensation.

         A. During the term of this Agreement, the Employer shall pay the
Employee a salary (the "Salary") at a rate of $325,000 per annum in respect of
each Employment Year, payable in equal monthly installments on the first day of
each month, or at such other times as may mutually be agreed upon between the
Employer and the Employee. Such Salary may be increased from time to time at the
discretion of the Board or the Board's Compensation and Human Resources
Committee ("Compensation Committee").

         B. In addition to the foregoing, the Employee shall be entitled to such
other cash bonuses and such other compensation in the form of stock, stock
options or other property or rights as may from time to time be awarded to him
by the Board or the Compensation Committee during or in respect of his
employment hereunder. It is understood and agreed that the Employee shall
receive a bonus of Fifty Thousand Dollars ($50,000) due and payable within
thirty (30) days from the full execution of the Agreement.

         IV. Benefits.

         A. During the term of this Agreement, the Employee shall have the right
to receive or participate in all existing and future benefits and plans which
the Company may from time to time institute during such period for its executive
officers (the "Executive Officers") and for which the Employee is eligible.
Nothing paid to the Employee under any plan or arrangement presently in effect
or made available in the future shall be deemed to be in lieu of the salary or
any other obligation payable to the Employee pursuant to this Agreement.

         B. During the term of this Agreement, the Employee will be entitled to
the number of paid holidays, personal days off, paid vacation days and sick
leave days in each calendar year as are determined by the Company from time to
time. Such paid vacation may be taken in the Employee's discretion with the
prior approval of the Employer, and at such time or times as are not
inconsistent with the reasonable business needs of the Company.

         V. Travel Expenses. All travel and other expenses incident to the
rendering of services reasonably incurred on behalf of the Company by the
Employee during the term of this Agreement shall be paid by the Employer
provided that such expenses are incurred in accordance with the Company's
policies. If any such expenses are paid in the first instance by the Employee,
the Employer shall reimburse him therefor on presentation of appropriate
receipts for any such expenses.

         VI. Termination. Employee's employment under this Agreement may be
terminated without any breach of this Agreement only on the following
circumstances:

         6.1. Death. The Employee's employment under this Agreement shall
terminate upon his death.

         6.2. Disability. If, as a result of the Employee's incapacity due to
physical or mental illness, the Employee shall have been absent from his duties
under this Agreement for 90 consecutive calendar days during any calendar year,
the Employer may terminate the Employee's employment under this Agreement.

                                       2
<PAGE>

         6.3. Cause. The Employer may terminate the Employee's employment under
this Agreement for Cause. For purposes of this Agreement, the Employer shall
have "Cause" to terminate the Employee's employment under this Agreement upon
(a) the failure by the Employee to perform his duties under this Agreement
(other than any such failure resulting from the Employee's incapacity due to
physical or mental illness) after demand for performance is delivered by the
Employer, in writing, specifically identifying the manner in which the Employer
believes the Employee has not performed his duties and the Employee fails to
perform as required within 10 days after such demand is made, (b) the engaging
by the Employee in misconduct (including embezzlement and criminal fraud) which
is injurious to the Employer, monetarily or otherwise or (c) the conviction of
the Employee of a felony and the expiration of the time to appeal such
conviction.

         6.4. Termination by the Employee for Good Reason, Upon a Change of
Control or Because of Ill Health. The Employee may terminate his employment
under this Agreement (a) for Good Reason (as hereinafter defined), (b) at any
time within twelve months after a Change of Control, or (c) if his health should
become impaired to any extent that makes the continued performance of his duties
under this Agreement hazardous to his physical or mental health or his life,
provided that, in the latter case, the Employee shall have furnished the
Employer with a written statement from a qualified doctor to such effect and
provided, further, that at the Employer's request and expense the Employee shall
submit to an examination by a doctor selected by the Employer and such doctor
shall have concurred in the conclusion of the Employee's doctor; provided if the
Employer's doctor does not concur, the Employee's and Employer's doctors shall
select a third physician whose determination shall be binding.

         6.4.1. Good Reason. For purposes of this Agreement, "Good Reason" shall
mean (a) any assignment to the Employee of any material duties or material
reporting obligations other than those contemplated by, or any material
limitation of the powers of the Employee in any respect not contemplated by,
this Agreement, (b) failure by the Employer to substantially comply with its
obligations and agreements contained in this Agreement (this shall include, for
avoidance of doubt, the Employer's demand in writing to Employee to perform an
illegal act), (c) failure of the Employer to obtain the assumption of the
agreement to perform this Agreement by any successor as contemplated in Section
9(g) of this Agreement. With respect to the matters set forth in clauses (a),
(b) and (c) of this paragraph, the Employee must give the Employer 30 days prior
written notice of his intent to terminate this Agreement as a result of any
breach or alleged breach of the applicable provision and the Employer shall have
the right to cure any such breach or alleged breach within such 30 day period.

         6.4.2. Change of Control. For purposes of this Agreement, a "Change of
Control" shall be deemed to occur, unless previously consented to in writing by
the Employee, upon (a) individuals who, as of the date hereof, constitute the
Board of Directors of the Employer (the "Incumbent Board") ceasing for any
reason to constitute at least a majority of the Board of Directors of the
Employer (the "Board"); provided, however, that any individual becoming a
director subsequent to the date hereof whose election, or nomination for
election by the Employer's shareholders, was approved by a vote of at least a
majority of the directors then comprising the Incumbent Board shall be
considered as though such individual were a member of the Incumbent Board, but
excluding, for this purpose, any such individual whose initial assumption of
office occurs in connection with a Combination, as defined below, or as a result
of either an actual or threatened election contest (as such terms are used in
Rule 14a-11 of Regulation 14A promulgated under the Securities Exchange

                                       3
<PAGE>

Act of 1934, as amended (the "Exchange Act")) or other actual or threatened
solicitation of proxies or consents by or on behalf of a person other than the
Board; (b) the acquisition of beneficial ownership (as determined pursuant to
Rule 13d-3 promulgated under the Exchange Act) of 15% or more of the voting
securities of the Employer by any person, entity or group (within the meaning of
Section 13(d)(3) or 14(d)(2) of the Exchange Act) not affiliated with the
Employee or the Employer; provided, however, that no Change of Control shall be
deemed to have occurred for purposes of this Agreement if such person, entity or
group acquires beneficial ownership of 15% or more of the voting securities of
the Employer (i) as a result of a combination of the Employer or a wholly-owned
subsidiary of the Employer with such person, entity or group or another entity
owned or controlled by such person, entity or group (whether effected by a
merger, consolidation, sale of assets or exchange of stock or otherwise) (a
"Combination") and (ii) (x) executive officers of the Employer (as designated by
the Board for purposes of Section 16 of the Exchange Act) immediately prior to
the Combination constitute not less than 50% of the executive officers of the
Employer for a period of not less than six (6) months after the Combination (for
purposes of calculating the executive officers of the Employer after the
Combination, those executive officers who are terminated by the Employer for
Cause or who terminate their employment without Good Reason shall be excluded
from the calculation entirely), and (y) the members of the Incumbent Board
immediately prior to the Combination constitute not less than 50% of the
membership of the Board after the Combination and (z) after the Combination,
more than 35% of the voting securities of the Employer is then beneficially
owned, directly or indirectly, by all or substantially all of the individuals
and entities who were the beneficial owners of the outstanding voting securities
of the Employer immediately prior to the Combination, it being understood that
while the existence of a Change in Control pursuant to this Section 6.4.2(b) may
not be ascertainable for six (6) months after the Combination, if it is
ultimately determined that such Combination constituted a Change in Control, the
date of the Change of Control shall be the effective date of the Combination;
(c) the commencement of a proxy contest against the management for the election
of a majority of the Board of the Employer if the group conducting the proxy
contest owns, has or gains the power to vote at least 15% of the voting
securities of the Employer; (d) the consummation of a reorganization, merger or
consolidation, or the sale, transfer or conveyance of all or substantially all
of the assets of the Employer to any person or entity not affiliated with the
Employee or the Employer unless, following such reorganization, merger,
consolidation, sale, transfer or conveyance, the conditions set forth in clause
(b)(ii) above are present; or (e) the complete liquidation or dissolution of the
Employer.

         VII. Notice of Termination.

         Any termination of the Employee's employment by the Employer or by the
Employee (other than termination by reason of the Employee's death) shall be
communicated by written Notice of Termination to the other party of this
Agreement. For purposes of this Agreement, a "Notice of Termination" shall mean
a notice which shall indicate the specific termination provision in this
Agreement relied upon and shall set forth in reasonable detail the facts and
circumstances claimed to provide a basis for termination of the Employee's
employment under the provision so indicated.

         VIII. Date of Termination.

         The "Date of Termination" shall mean (a) if the Employee's employment
is terminated by his death, the date of his death, (b) if the Employee's
employment is terminated pursuant to Section 6.2 above,

                                       4
<PAGE>

the date on which the Notice of Termination is given, (c) if the Employee's
employment is terminated pursuant to Section 6.3 above, the date specified on
the Notice of Termination after the expiration of any cure periods and (d) if
the Employee's employment is terminated for any other reason, the date on which
a Notice of Termination is given after the expiration of any cure periods.

         IX. Compensation Upon Termination or During Disability.

         (a) If the Employee's employment shall be terminated by reason of his
death, the Employer shall pay to such person as he shall designate in writing
filed with the Employer, or if no such person shall be designated, to his estate
as a lump sum benefit, his full Salary to the date of his death in addition to
any payments the Employee's spouse, beneficiaries or estate may be entitled to
receive pursuant to any pension or employee benefit plan or life insurance
policy or similar plan or policy then maintained by the Employer, and such
payments shall, assuming the Employer is in compliance with the provisions of
this Agreement, fully discharge the Employer's obligations with respect to
Section 3 of this Agreement, but all other obligations of the Employer under
this Agreement, including the obligations to indemnify, defend and hold harmless
the Employee, shall remain in effect.

         (b) During any period that the Employee fails to perform his duties
hereunder as a result of incapacity due to physical or mental illness, the
Employee shall continue to receive his Salary until the Employee's employment is
terminated pursuant to Section 6.2 of this Agreement, or until the Employee
terminates his employment pursuant to Section 6.4(c) of this Agreement,
whichever first occurs. After termination, the Employee shall be paid, in equal
monthly installments, 60% of his Salary, at the rate in effect at the time
Notice of Termination is given, for one year, unless and except for any such
amounts actually received by the Employee pursuant to the Company's long-term
disability insurance program. To the extent physically and mentally capable of
so doing without potentially impairing or damaging his health, the Employee
shall provide consulting services to the Employer during the period that he is
receiving payments pursuant to this Section 9(b).

         (c) If the Employee's employment shall be terminated for Cause or
terminated by the Employee without Good Reason prior to or more than twelve
months after, a Change of Control, the Employer shall pay the Employee his full
Salary through the Date of Termination, at the rate in effect at the time Notice
of Termination is given, and the Employer shall, assuming the Employer is in
compliance with the provisions of this Agreement, have no further obligations
with respect to Section 3 of this Agreement, but all other obligations of the
Employer under this Agreement, including the obligations to indemnify, defend
and hold harmless the Employee, shall remain in effect.

         (d) If (A) in breach of this Agreement, the Employer shall terminate
the Employee's employment other than pursuant to Sections 6.2 or 6.3 hereof (it
being understood that a purported termination pursuant to Section 6.2 or 6.3
hereof which is disputed and finally determined not to have been proper shall be
a termination by the Employer in breach of this Agreement), including as

                                       5
<PAGE>

a result of a Change of Control, or (B) the Employee shall terminate his
employment for Good Reason or at any time within twelve months after a Change of
Control, then the Employer shall pay to the Employee:

             (i) his full Salary through the Date of Termination at the rate in
effect at the time Notice of Termination is given;

             (ii) for periods subsequent to the Date of Termination (in lieu of
any further payments pursuant to Section 3 of this Agreement), Severance Pay (as
hereinafter defined), payable on the tenth day following the Date of
Termination, as follows:

             If the Employee's employment is terminated either by the Employee
for Good Reason or by the Employer other than pursuant to Sections 6.2 or 6.3
hereof, at any time during the Initial Term or any Renewal Term or within twelve
months after a Change of Control (provided that if the Change of Control is
pursuant to Section 6.4.2(b) of this Agreement, it is ascertainable on the date
of such Termination that such Change of Control has occurred), a lump sum amount
equal to (A) Salary (excluding any bonus or perquisites, such as health and life
insurance and car allowance, etc). received by Employee received or earned by
the Employee from the Employer during the twelve months prior to the Termination
Date, multiplied by (B) two and ninety-nine hundredths (2.99)) ("Severance Pay")

         (e) In the event any excise tax is due on the Severance Pay, then the
Severance Pay shall be increased so that the excise tax on the Severance Pay
shall be paid as well as any income tax payable on such excise tax.

         (f) The Employee shall as a condition to receiving any amounts under
Section IX(d), provide the Employer with an acceptable form of release
agreement, whereby the Employer is released from its obligations hereunder.

         (g) The Employer will require any successor (whether direct or
indirect, by purchase, merger, consolidation or otherwise) to all or
substantially all of the business and/or assets of the Employer, by agreement in
form and substance satisfactory to the Employee, to expressly assume and agree
to perform this Agreement in the same manner and to the same extent that the
Employer would be required to perform it if no such succession had taken place.
Failure of the Employer to obtain such Agreement prior to the effectiveness of
any such succession shall be a breach of this Agreement and shall entitle the
Employee to compensation from the Employer in the same amount and on the same
terms as he would be entitled to under Section 9(d)(ii)(B) if he terminated his
employment for Good Reason, except for purposes of implementing the foregoing,
the date on which any such succession becomes effective shall be deemed the Date
of Termination. As used in this Agreement, "Employer" shall mean the Employer
and any successor to its business and/or assets which executes the Agreement or
which otherwise becomes bound by the terms and conditions of this Agreement by
operation of law.

         (h) (A) Upon the occurrence of a Change of Control, then
notwithstanding the vesting and exercisability schedule in any stock option
agreement between Employer and Employee, all unvested stock options granted by
the Employer to the Employee pursuant to such agreement shall immediately vest
and become exercisable and shall remain exercisable for not less than 180 days
thereafter.

                                       6
<PAGE>

         X. Confidentiality; Noncompetition.

         A. The Employer and the Employee acknowledge that the services to be
performed by the Employee under this Agreement are unique and extraordinary and,
as a result of such employment, the Employee will be in possession of
confidential information relating to the business practices of the Company. The
term "confidential information" shall mean any and all information (verbal and
written) relating to the Company or any of its affiliates, or any of their
respective activities, other than such information which can be shown by the
Employee to be in the public domain (such information not being deemed to be in
the public domain merely because it is embraced by more general information
which is in the public domain) other than as the result of breach of the
provisions of this Section 10(a), including, but not limited to, information
relating to: trade secrets, personnel lists, financial information, research
projects, services used, pricing, customers, customer lists and prospects,
product sourcing, marketing and selling and servicing. The Employee agrees that
he will not, during or for a period of two years after the termination of
employment, directly or indirectly, use, communicate, disclose or disseminate to
any person, firm or corporation any confidential information regarding the
clients, customers or business practices of the Company acquired by the Employee
during his employment by Employer, without the prior written consent of
Employer; provided, however, that the Employee understands that Employee will be
prohibited from misappropriating any trade secret (as defined for purposes of
Indiana law) at any time during or after the termination of employment.

         B. The Employee hereby agrees that he shall not, during the period of
his employment and for a period of two (2) years following such employment,
directly or indirectly, within any county (or adjacent county) in any State
within the United States or territory outside the United States in which the
Company is engaged in business during the period of the Employee's employment or
on the date of termination of the Employee's employment, engage, have an
interest in or render any services to any business (whether as owner, manager,
operator, licensor, licensee, lender, partner, stockholder, joint venturer,
employee, consultant or otherwise) competitive with the Company's principal
business activities. Notwithstanding the foregoing: (i) Employee shall be
permitted to own (as a passive investment) not more than 5% of any class of
securities which is publicly traded; provided, however that said 5% limitation
shall apply to the aggregate holdings of Employee and those of all other persons
and entities with whom Employee has agreed to act for the purpose of acquiring,
holding, voting or disposing of such securities, and (ii) if the Employer
provides the Employee with a Notice of Non Renewal so that no Renewal Term is
created hereunder, then the post employment restriction period as set forth in
this section B. shall be one (1) year following the Initial Term.

         C. The Employee hereby agrees that he shall not, during the period of
his employment and for a period of two (2) years following such employment,
directly or indirectly, take any action which constitutes an interference with
or a disruption of any of the Company's business activities including, without
limitation, the solicitations of the Company's customers, or persons listed on
the personnel lists of the Company. At no time during the term of this
Agreement, or thereafter shall the Employee directly or indirectly, disparage
the commercial, business or financial reputation of the Company.

         D. For purposes of clarification, but not of limitation, the Employee
hereby acknowledges and agrees that the provisions of subparagraphs 10(b) and
(c) above shall serve as a

                                       7
<PAGE>

prohibition against him, during the period referred to therein, directly or
indirectly, hiring, offering to hire, enticing, soliciting or in any other
manner persuading or attempting to persuade any officer, employee, agent,
lessor, lessee, licensor, licensee or customer who has been previously contacted
by either a representative of the Company, including the Employee, (but only
those suppliers existing during the time of the Employee's employment by the
Company, or at the termination of his employment), to discontinue or alter his,
her or its relationship with the Company.

         E. Upon the termination of the Employee's employment for any reason
whatsoever, all documents, records, notebooks, equipment, price lists,
specifications, programs, customer and prospective customer lists and other
materials which refer or relate to any aspect of the business of the Company
which are in the possession of the Employee including all copies thereof, shall
be promptly returned to the Company.

         F. 1. The Employee agrees that all processes, technologies and
inventions ("Inventions"), including new contributions, improvements, ideas and
discoveries, whether patentable or not, conceived, developed, invented or made
by him during his employment by Employer shall belong to the Company, provided
that such Inventions grew out of the Employee's work with the Company, are
related in any manner to the business (commercial or experimental) of the
Company or are conceived or made on the Company's time or with the use of the
Company's facilities or materials. The Employee shall further: (a) promptly
disclose such Inventions to the Company; (b) assign to the Company, without
additional compensation, all patent and other rights to such Inventions for the
United States and foreign countries; (c) sign all papers necessary to carry out
the foregoing; and (d) give testimony in support of his inventorship;

            2. If any Invention is described in a patent application or is
disclosed to third parties, directly or indirectly, by the Employee within two
years after the termination of his employment by the Company, it is to be
presumed that the Invention was conceived or made during the period of the
Employee's employment by the Company, unless such Invention is entirely
unrelated to the Company's business directly or indirectly; and

            3. The Employee agrees that he will not assert any rights to any
Invention as having been made or acquired by him prior to the date of this
Agreement, except for Inventions, if any, disclosed to the Company in writing
prior to the date hereof.

         G. The Company shall be the sole owner of all products and proceeds of
the Employee's services hereunder, including, but not limited to, all materials,
ideas, concepts, formats, suggestions, developments, arrangements, packages,
programs and other intellectual properties that the Employee may acquire,
obtain, develop or create in connection with and during the term of the
Employee's employment hereunder, free and clear of any claims by the Employee
(or anyone claiming under the Employee) of any kind or character whatsoever
(other than the Employee's right to receive payments hereunder). The Employee
shall, at the request of the Company, execute such assignments, certificates or
other instruments as the Company may from time to time deem necessary or
desirable to evidence, establish, maintain, perfect, protect, enforce or defend
its right, or title and interest in or to any such properties.

         H. The parties hereto hereby acknowledge and agree that (i) the Company
would be

                                       8
<PAGE>

irreparably injured in the event of a breach by the Employee of any of his
obligations under this Section 10, (ii) monetary damages would not be an
adequate remedy for any such breach, and (iii) the Company shall be entitled to
injunctive relief, in addition to any other remedy which it may have, in the
event of any such breach.

         I. The parties hereto hereby acknowledge that, in addition to any other
remedies the Company may have under Section 10(h) hereof, the Company shall have
the right and remedy to require the Employee to account for and pay over to the
Company all compensation, profits, monies, accruals, increments or other
benefits (collectively, "Benefits") derived or received by the Employee as the
result of any transactions constituting a breach of any of the provisions of
Section 10, and the Employee hereby agrees to account for and pay over such
Benefits to the Company.

         J. Each of the rights and remedies enumerated in Section 10(h) and
10(i) shall be independent of the other, and shall be severally enforceable, and
all of such rights and remedies shall be in addition to, and not in lieu of, any
other rights and remedies available to the Company under law or in equity.

         K. If any provision contained in this Section 10 is hereafter construed
to be invalid or unenforceable, the same shall not affect the remainder of the
covenant or covenants, which shall be given full effect, without regard to the
invalid portions.

         L. If any provision contained in this Section 10 is found to be
unenforceable by reason of the extent, duration or scope thereof, or otherwise,
then the court making such determination shall have the right to reduce such
extent, duration, scope or other provision and in its reduced form any such
restriction shall thereafter be enforceable as contemplated hereby.

         M. It is the intent of the parties hereto that the covenants contained
in this Section 10 shall be enforced to the fullest extent permissible under the
laws and public policies of each jurisdiction in which enforcement is sought
(the Employee hereby acknowledging that said restrictions are reasonably
necessary for the protection of the Company). Accordingly, it is hereby agreed
that if any of the provisions of this Section 10 shall be adjudicated to be
invalid or unenforceable for any reason whatsoever, said provision shall be
(only with respect to the operation thereof in the particular jurisdiction in
which such adjudication is made) construed by limiting and reducing it so as to
be enforceable to the extent permissible, without invalidating the remaining
provisions of this Agreement or affecting the validity or enforceability of said
provision in any other jurisdiction.

         XI. Indemnification. The Employer shall indemnify and hold harmless the
Employee against any and all expenses reasonably incurred by him in connection
with or arising out of (a) the defense of any action, suit or proceeding in
which he is a party, or (b) any claim asserted or threatened against him, in
either case by reason of or relating to his being or having been an employee,
officer or director of the Company, whether or not he continues to be such an
employee, officer or director at the time of incurring such expenses, except
insofar as such indemnification is prohibited by law. Such expenses shall
include, without limitation, the fees and disbursements of attorneys, amounts of
judgments and amounts of any settlements, provided that such expenses are

                                       9
<PAGE>

agreed to in advance by the Employer. The foregoing indemnification obligation
is independent of any similar obligation provided in the Employer's Certificate
of Incorporation or Bylaws, and shall apply with respect to any matters
attributable to periods prior to the Effective Date, and to matters attributable
to his employment hereunder, without regard to when asserted.

         XII. General. This Agreement is further governed by the following
provisions:

         A. Notices. All notices relating to this Agreement shall be in writing
and shall be either personally delivered, sent by telecopy (receipt confirmed)
or mailed by certified mail, return receipt requested, to be delivered at such
address as is indicated below, or at such other address or to the attention of
such other person as the recipient has specified by prior written notice to the
sending party. Notice shall be effective when so personally delivered, one
business day after being sent by telecopy or five days after being mailed.

            To the Employer:  Brightpoint, Inc.
                              501 Airtech Parkway
                              Plainfield, Indiana 46168
                              Attn: General Counsel

            To the Employee:  Anthony W. Boor
                              5750 Stonechat Lane
                              Indianapolis, Indiana 46237

         B. Parties in Interest. Employee may not delegate his duties or assign
his rights hereunder. This Agreement shall inure to the benefit of, and be
binding upon, the parties hereto and their respective heirs, legal
representatives, successors and permitted assigns.

         C. Entire Agreement. This Agreement supersedes any and all other
agreements, either oral or in writing, between the parties hereto with respect
to the employment of the Employee by the Employer and contains all of the
covenants and agreements between the parties with respect to such employment in
any manner whatsoever. Any modification or termination of this Agreement will be
effective only if it is in writing signed by the party to be charged.

         D. Governing Law. This Agreement shall be governed by and construed in
accordance with the laws of the State of Indiana. Employee agrees to and hereby
does submit to jurisdiction before any state or federal court of record in
Marion County, Indiana, or in the state and county in which such violation may
occur, at Employer's election.

         E. Warranty. Employee hereby warrants and represents as follows:

            2. Employee has ideas, information and know-how relating to the type
of business conducted by Employer, and Employee's disclosure of such ideas,
information and know-how to Employer will not conflict with or violate the
rights of any third party or parties.

                                       10
<PAGE>

         F. Severability. In the event that any term or condition in this
Agreement shall for any reason be held by a court of competent jurisdiction to
be invalid, illegal or unenforceable in any respect, such invalidity, illegality
or unenforceability shall not affect any other term or condition of this
Agreement, but this Agreement shall be construed as if such invalid or illegal
or unenforceable term or condition had never been contained herein.

         G. Execution in Counterparts. This Agreement may be executed by the
parties in one or more counterparts, each of which shall be deemed to be an
original but all of which taken together shall constitute one and the same
agreement, and shall become effective when one or more counterparts has been
signed by each of the parties hereto and delivered to each of the other parties
hereto.

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

                                        BRIGHTPOINT, INC.

                                        By:   /s/ Robert J. Laikin
                                            ------------------------------------
                                            Robert J. Laikin,
                                            Chairman of the Board and
                                              Chief Executive Officer

                                              /s/ Anthony W. Boor
                                            ------------------------------------
                                              Anthony W. Boor

                                       11
<PAGE>

                                   EXHIBIT "A"

                           DUTIES AND RESPONSIBILITIES

The duties and responsibilities of the Executive Vice President and Chief
Financial Officer include, but are not limited to, the following:

1.   Management of the corporate finance staff including Corporate Controller,
     Vice President of Corporate Finance, Director of Internal Audit, and the
     staff reporting thereto.

2.   Development and implementation of strategies relating to accounting and
     reporting, capital structure, and corporate finance activities.

3.   Management of relationships with independent auditors, investment banks and
     commercial banks.

4.   Participation in external reporting, including SEC reporting and
     compliance.

5.   Maintenance and development of adequate and appropriate levels of capital.

6.   Participation in negotiation of material contracts.

7.   Participation in strategic planning.

8.   Participation in Executive Committee activities.

9.   Participation in investor relations and communications with analysts.

10.  Risk management.

11.  Development and implementation of federal, state and foreign tax
     strategies.

12.  Other duties consistent with the position of Executive Vice President,
     Treasurer and Chief Financial Officer that may be assigned from time to
     time by the Chief Executive Officer or Board of Directors.

                                       12

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