Document:

exv10w94

 

Exhibit 10.94

Second AMENDMENT TO

MASTER SERVICE AGREEMENT

     This Second Amendment (“Second Amendment”) to the Master Services
Agreement by and between Intuit Inc. (“Intuit”) and Arvato Services, Inc.
(“Contractor”), is made and entered into as of May 29, 2007 (the “Effective Date”).  Except as specifically modified in this Second
Amendment, all other terms and conditions of the Agreement remain unmodified and in
full force and effect.  In the event of any inconsistency between the terms of the Agreement and the terms of this Second Amendment, the terms of this Second
Amendment shall prevail.

     WHEREAS Intuit and Contractor are parties to that certain Master Services Agreement
made effective on May 28, 2003, as amended by the First Amendment made effective on May 29, 2006 (collectively the “Agreement”);

     WHEREAS pursuant to the Agreement, Contractor agreed to perform and has performed
certain services for Intuit;

     WHEREAS Intuit and Contractor now desire to extend the term of the Agreement;

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

     1. Amendment of Agreement.  As of the Effective Date, the Agreement is amended as follows:

          (a) The end date of the Term is extended to July 31, 2008.

     2. Counterparts.  This Second Amendment may be executed in one or more
counterparts, each of which shall be deemed an original and all of which together shall
constitute one instrument.

     IN WITNESS WHEREOF, the authorized representatives of the parties have executed
this Second Amendment as of the Effective Date.

	 	 	 
	INTUIT INC.         

By:  /s/ Scott Beth

Name:  Scott Beth

Title: VP, Procurement	 	ARVATO SERVICES, INC.

By:  /s/ R. Leitch

        Name:  Ron Leitch

        Title:  President / CEOexv10w1

 

Exhibit 10.1

FIRST AMENDMENT AGREEMENT

     FIRST AMENDMENT AGREEMENT (this “Agreement”), dated as of September 1, 2005, by and among (1)
Vermont Pure Holdings, Ltd. (“Holdings”), (2) Crystal Rock LLC (“Crystal Rock”, and together with
Holdings, collectively, the “Borrowers”), (3) Bank of America, N.A. (“Bank of America”) and the
other lending institutions party to that certain Credit Agreement (defined below) as lenders
(together with Bank of America, collectively, the “Lenders”), and (4) Bank of America, as
administrative agent (the “Administrative Agent”) for itself and the other Lenders with respect to
a certain Credit Agreement, dated as of April 5, 2005, by and among the Borrowers, the Lenders and
the Administrative Agent (as amended, the “Credit Agreement”).

WITNESSETH:

     WHEREAS, the Borrowers have requested that the Lenders amend certain terms and conditions of
the Credit Agreement on the terms and conditions set forth herein; and

     WHEREAS, the parties hereto have agreed to amend certain provisions of the Credit Agreement.

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

     §1. Definitions. Capitalized terms used herein without definition that are defined in
the Credit Agreement (after giving effect to the amendments thereof set forth herein) shall have
the same meanings herein as therein.

     §2. Ratification of Existing Agreements. All of the Borrowers’ obligations and
liabilities to the Lenders as evidenced by or otherwise arising under the Credit Agreement, the
Notes and the other Loan Documents, are, by the Borrowers’ execution of this Agreement, ratified
and confirmed in all respects. In addition, by the Borrowers’ execution of this Agreement, each
Borrower represents and warrants that it does not have any counterclaim, right of set-off or
defense of any kind with respect to such obligations and liabilities.

     §3. Representations and Warranties. Each Borrower hereby represents and warrants to
the Lenders that all of the representations and warranties made by the Borrowers in the Credit
Agreement, the Notes and the other Loan Documents are true in all material respects on the date
hereof as if made on and as of the date hereof, except to the extent that such representations and
warranties relate expressly to an earlier date.

     §4. Conditions Precedent. The effectiveness of the amendments contemplated hereby
shall be subject to the satisfaction on or before the date hereof of each of the following
conditions precedent:

     (a) Representations and Warranties. All of the representations and warranties
made by the Borrowers herein, whether directly or incorporated by reference, shall be true
and correct on the date hereof except as provided in §3 hereof.

 

 

     (b) Performance; No Event of Default. Each Borrower shall have performed
and complied in all respects with all terms and conditions herein required to be performed
or complied with by it prior to or at the time hereof, and there shall exist no Default or
Event of Default.

     (c) Corporate or Limited Liability Company Action. All requisite corporate or
limited liability company, as applicable, action necessary for the valid execution,
delivery and performance by each Borrower of this Agreement and all other instruments and
documents delivered by each Borrower in connection therewith shall have been duly and
effectively taken.

     (d) Delivery. The parties hereto shall have executed this Agreement and
delivered this Agreement to the Administrative Agent.

     §5. Amendments to the Credit Agreement.

     (a) The definition of “Swing Line Sublimit” in Section 1.1 of the Credit
Agreement is hereby amended and restated in its entirety to read as follows:

     “Swing Line Sublimit. An amount equal to the lesser of (a) $2,000,000
and (b) the Total Revolving Credit Commitment. The Swing Line Sublimit is part of,
and not in addition to, the Total Revolving Credit Commitment.”

     (b) Section 2.2 of the Credit Agreement is hereby amended and restated in its
entirety to read as follows:

     “2.2. Revolving Credit Commitment Fee. The Borrowers agree to pay to
the Administrative Agent for the accounts of the Lenders in accordance with their
respective Commitment Percentages a commitment fee (the “Revolving Credit
Commitment Fee”) calculated at the rate of one-quarter of one percent (0.25%)
per annum on the average daily amount during each calendar quarter or portion
thereof from the date hereof to the Revolving Credit Loan Maturity Date by which
the Total Revolving Credit Commitment minus the sum of the Maximum Drawing
Amount and all Unpaid Reimbursement Obligations exceeds the outstanding amount of
Revolving Credit Loans (excluding the outstanding amount of Revolving Credit Loans
made under §2.6.2) during such calendar quarter. The Revolving Credit Commitment
Fee shall be payable quarterly in arrears on the first day of each calendar quarter
for the immediately preceding calendar quarter commencing on the first such date
following the date hereof, with a final payment on the Revolving Credit Loan
Maturity Date or any earlier date on which the Commitments in respect of Revolving
Credit Loans shall terminate.”

     §6. Miscellaneous Provisions.

          (a) Except as otherwise expressly provided by this Agreement, all of the respective terms,
conditions and provisions of the Credit Agreement, the Notes and the other Loan Documents shall
remain the same. The Credit Agreement, as amended hereby, the Notes

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and the other Loan Documents shall continue in full force and effect, and this Agreement and
the Credit Agreement shall be read and construed as one instrument.

          (b) This Agreement is intended to take effect under, and shall be construed according to and
governed by, the laws of the State of New York.

          (c) This Agreement may be executed in any number of counterparts, but all such counterparts
shall together constitute but one instrument. In making proof of this Agreement it shall not be
necessary to produce or account for more than one counterpart signed by each party hereto by and
against which enforcement hereof is sought. A facsimile of an executed counterpart shall have the
same effect as the original executed counterpart.

[Remainder of page intentionally blank; Signature Pages follow)

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     IN WITNESS WHEREOF, each of the parties hereto have caused this Agreement to be executed in
its name and behalf by its duly authorized officer as of the date first written above.

	 	 	 	 	 
	 	VERMONT PURE HOLDINGS, LTD.

 	 
	 	By:  	/s/
Timothy G. Fallon
 	 
	 	 	Name:  	Timothy G. Fallon  	 
	 	 	Title:  	Chief Executive Officer 	 
	 

	 	 	 	 	 
	 	CRYSTAL ROCK LLC

 	 
	 	By:  	/s/
Timothy G. Fallon
 	 
	 	 	Name:  	Timothy G. Fallon 	 
	 	 	Title:  	Manager 	 
	 

[Signature Page to First Amendment Agreement]

 

 

	 	 	 	 	 
	 	BANK OF AMERICA, N.A., as a Lender 

 	 
	 	By:  	/s/
Matthew S. Latham
 	 
	 	 	Name:  	Matthew S. Latham  	 
	 	 	Title:  	Senior Vice President 	 
	 

	 	 	 	 	 
	 	BANK OF AMERICA, N.A., as Administrative Agent

 	 
	 	By:  	/s/
Matthew S. Latham
 	 
	 	 	Name:  	Matthew S. Latham  	 
	 	 	Title:  	Senior Vice President 	 
	 

[Signature Page to First Amendment Agreement]

 

 

	 	 	 	 	 
	 	WEBSTER BANK, NATIONAL ASSOCIATION 

 	 
	 	By:  	/s/
Richard A. O’Brien
 	 
	 	 	Richard A. O’Brien  	 
	 	 	Senior Vice President 	 
	 

[Signature Page to First Amendment Agreement]exv10w2

 

Exhibit 10.2

SECOND AMENDMENT AGREEMENT

     SECOND AMENDMENT AGREEMENT (this “Agreement”), dated as of March 23, 2006, by and among (1)
Vermont Pure Holdings, Ltd. (“Holdings”), (2) Crystal Rock LLC (“Crystal Rock”, and together with
Holdings, collectively, the “Borrowers”), (3) Bank of America, N.A. (“Bank of America”) and the
other lending institutions party to that certain Credit Agreement (defined below) as lenders
(together with Bank of America, collectively, the “Lenders”), and (4) Bank of America, as
administrative agent (the “Administrative Agent”) for itself and the other Lenders with respect to
a certain Credit Agreement, dated as of April 5, 2005, by and among the Borrowers, the Lenders and
the Administrative Agent, as amended by the First Amendment Agreement, dated as of September 1,
2005 (as amended, the “Credit Agreement”).

WITNESSETH:

     WHEREAS, the Borrowers have requested that the Lenders amend certain terms and conditions of
the Credit Agreement on the terms and conditions set forth herein; and

     WHEREAS, the parties hereto have agreed to amend certain provisions of the Credit Agreement.

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

     §1. Definitions. Capitalized terms used herein without definition that are defined in
the Credit Agreement (after giving effect to the amendments thereof set forth herein) shall have
the same meanings herein as therein.

     §2. Ratification of Existing Agreements. All of the Borrowers’ obligations and
liabilities to the Lenders as evidenced by or otherwise arising under the Credit Agreement, the
Notes and the other Loan Documents, are, by the Borrowers’ execution of this Agreement, ratified
and confirmed in all respects. In addition, by the Borrowers’ execution of this Agreement, each
Borrower represents and warrants that it does not have any counterclaim, right of set-off or
defense of any kind with respect to such obligations and liabilities.

     §3. Representations and Warranties. Each Borrower hereby represents and warrants to
the Lenders that all of the representations and warranties made by the Borrowers in the Credit
Agreement, the Notes and the other Loan Documents are true in all material respects on the date hereof as if made on
and as of the date hereof, except to the extent that such representations and warranties relate
expressly to an earlier date.

 

 

     §4. Conditions Precedent. The effectiveness of the amendments contemplated hereby
shall be subject to the satisfaction on or before the date hereof of each of the following
conditions precedent:

     (a) Representations and Warranties. All of the representations and warranties
made by the Borrowers herein, whether directly or incorporated by reference, shall be true
and correct on the date hereof except as provided in §3 hereof.

     (b) Performance; No Event of Default. Each Borrower shall have performed and
complied in all respects with all terms and conditions herein required to be performed or
complied with by it prior to or at the time hereof, and there shall exist no Default or
Event of Default.

     (c) Corporate or Limited Liability Company Action. All requisite corporate or
limited liability company, as applicable, action necessary for the valid execution, delivery
and performance by each Borrower of this Agreement and all other instruments and documents
delivered by each Borrower in connection therewith shall have been duly and effectively
taken.

     (d) Delivery. The parties hereto shall have executed this Agreement and
delivered this Agreement to the Administrative Agent.

     §5. Amendments to the Credit Agreement.

     (a) Section 11.4 of the Credit Agreement is hereby amended and restated in its entirety
to read as follows:

     “11.4. Restricted Payments. Neither Borrower will make any Restricted
Payments other than, in the case of Holdings, the repurchase of its common stock in
the open market or through privately negotiated transactions in an aggregate amount
not to exceed 250,000 shares of such common stock and for aggregate consideration
not to exceed $500,000, so long as, at the time of any such repurchase, no Default
or Event of Default has occurred and is continuing or would result therefrom.”

     (b) Section 18.6(a) of the Credit Agreement is hereby amended and restated in its
entirety to read as follows:

     “(a) if to the Borrowers, at 45 Krupp Drive, Williston, Vermont 05495,
Attention: Bruce MacDonald or at such other address for notice as the Borrowers
shall last have furnished in writing to the Person giving the notice, with a copy
to, Foley Hoag LLP, 155 Seaport Blvd., Boston Massachusetts, 02210, Attention: Dean
Hanley;”

Each other reference to Cozen O’Connor as Company counsel in any Loan Document is hereby
replaced with a corresponding reference to Foley Hoag LLP, as provided above.

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     §6. Miscellaneous Provisions.

          (a) Upon the amendments herein becoming effective, the Administrative Agent hereby consents to
the election of Peter K. Baker as President and Chief Executive Officer of Holdings and as a
Manager of Crystal Rock in replacement of Timothy G. Fallon in such capacities and acknowledges and
agrees that the conditions set forth with respect to such replacement in Section 15.1(r) of the
Credit Agreement have been met and that no Default or Event of Default exists thereunder solely by
reason of such replacement.

          (b) The Administrative Agent and the Lenders hereby consent to the termination by Holdings of
that certain Lease of Water Rights, dated November 6, 1997, relating to a water spring in Tinmouth,
Vermont (the “Tinmouth Lease”) and acknowledge and agree that the Collateral Assignment of Lease of
Water Rights, dated April 5, 2005, from Holdings to the Administrative Agent with respect to the
Tinmouth Lease shall be terminated and of no further force or effect upon the termination of
Tinmouth Lease. Holdings will provide the Administrative Agent with all documentation reasonably
requested by the Administrative Agent with respect to the termination of the Tinmouth Lease.

          (c) Except as otherwise expressly provided by this Agreement, all of the respective terms,
conditions and provisions of the Credit Agreement, the Notes and the other Loan Documents shall
remain the same. The Credit Agreement, as amended hereby, the Notes and the other Loan Documents
shall continue in full force and effect, and this Agreement and the Credit Agreement shall be read
and construed as one instrument.

          (d) This Agreement is intended to take effect under, and shall be construed according to and
governed by, the laws of the State of New York.

          (e) This Agreement may be executed in any number of counterparts, but all such counterparts
shall together constitute but one instrument. In making proof of this Agreement it shall not be
necessary to produce or account for more than one counterpart signed by each party hereto by and
against which enforcement hereof is sought. A facsimile of an executed counterpart shall have the
same effect as the original executed counterpart.

[Remainder of page intentionally blank; Signature Pages follow]

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     IN WITNESS WHEREOF, each of the parties hereto have caused this Agreement to be executed in
its name and behalf by its duly authorized officer as of the date first written above.

	 	 	 	 	 
	 	VERMONT PURE HOLDINGS, LTD.

 	 
	 	By:  	/s/
Peter K. Baker	 
	 	 	Name:  	Peter K. Baker	 
	 	 	Title:  	CEO	 
	 
	 	CRYSTAL ROCK LLC

 	 
	 	By:  	/s/
Peter K. Baker	 
	 	 	Name:  	Peter K. Baker	 
	 	 	Title:  	Manager	 
	 

[Signature Page to Second Amendment Agreement]

 

 

	 	 	 	 	 
	 	BANK OF AMERICA, N.A., as a Lender

 	 
	 	By:  	/s/
Matthew S. Latham	 
	 	 	Name:  	Matthew S. Latham 	 
	 	 	Title:  	Senior Vice President 	 
	 
	 	BANK OF AMERICA, N.A., as Administrative Agent

 	 
	 	By:  	/s/
Michael R. Langmeyer	 
	 	 	Name:  	Michael R. Langmeyer 	 
	 	 	Title:  	Assistant Vice President 	 
	 

[Signature Page to Second Amendment Agreement]

 

 

	 	 	 	 	 
	 	WEBSTER BANK, NATIONAL ASSOCIATION

 	 
	 	By:  	/s/
Richard A. O’Brien	 
	 	 	Richard A. O’Brien 	 
	 	 	Senior Vice President 	 
	 

[Signature Page to Second Amendment Agreement]

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