Document:

Exhibit 10.18.3

Exhibit 10.18.3

SECOND AMENDMENT TO

LOAN AND SECURITY AGREEMENT

This Second Amendment to Loan and Security Agreement (the “Amendment”) is entered into as of
December 1, 2010, by and among Fifth Third Bank, an Ohio banking corporation (the “Bank”) and
Meridian Bioscience, Inc., an Ohio corporation (“Parent” or “Agent”), Meridian Bioscience
Corporation, an Ohio corporation (“Corp.”), Omega Technologies, Inc., an Ohio corporation
(“Omega”), Meridian Life Science, Inc., a Maine corporation (“MLS”) (collectively, the “Borrowers”
and individually a “Borrower”).

WHEREAS, Bank and Borrowers entered into that certain Loan and Security Agreement, dated as of
August 1, 2007, as amended from time to time (the “Agreement”);

WHEREAS, Bank and Borrowers wish to amend the Agreement to modify certain provisions of the
Agreement.

NOW THEREFORE, intending to be legally bound, the parties hereto agree as follows:

1. Waivers for September 30, 2010. At the request of Agent, Lender hereby waives
compliance with Tangible Net Worth Ratio of Section 5.16 of the Agreement for the fiscal quarter
ending September 30, 2010. This waiver shall be effective only for the specific Events of Default
listed herein. In no event shall this waiver be deemed to be a waiver of (a) enforcement of
Lender’s rights with respect to other Events of Default now existing or hereafter arising, or (b)
the Borrowers’ compliance with (i) the covenants and other provisions of the Agreement before and
after September 30, 2010 or (ii) any other covenants or provisions thereof. Nothing contained
herein or in any communications between Lender and Borrowers shall be a waiver of any rights or
remedies Lender has or may have against Borrowers, except as specifically set forth herein. In
consideration of this waiver, Borrowers agree to pay Bank on the date of this Amendment a covenant
waiver fee of $2,000.

2. Amendment. Section 5.16 of the Agreement is hereby amended and restated in its
entirety to read as follows:

5.16 Tangible Net Worth. Borrowers shall maintain a Tangible Net Worth as of
the end of each fiscal quarter, commencing with the quarter ending December 31, 2010, of at
least $97,000,000 on a consolidated basis.

3. Representations, Warranties and Covenants of Borrowers. To induce Bank to enter into
this Amendment, Borrowers represent and warrant as follows:

	 	(a)	 	No Event of Default (as such term is defined in Section 8 of the Agreement) or event or
condition which, with the lapse of time or giving of notice or both, would constitute an
Event of Default exists on the date hereof.

 

 

 

	 	(b)	 	The person executing this Amendment is a duly elected and acting officer of
each Borrower and is duly authorized by the Board of Directors of such Borrower to
execute and deliver this Amendment on behalf of such Borrower.

4. Conditions. Bank’s obligations under this Amendment are subject to the following
conditions:

	 	(a)	 	At Bank’s request, the Bank shall have been furnished copies, certified by the
Secretary or Assistant Secretary of Borrowers, of resolutions of the Board of Directors
of each Borrower authorizing the execution of this Amendment and all other documents
executed in connection herewith (which resolutions will be in the form reasonably
acceptable to Bank).

	 	(b)	 	The representations and warranties of Borrowers in Section 3 hereof shall be
true and correct on the date of execution of this Amendment.

	 	(c)	 	Borrowers shall pay the $2,000 covenant waiver fee to the Bank and shall pay
all expenses and attorneys’ fees incurred by Bank in connection with the preparation,
execution and delivery of this Amendment and related documents.

5. General.

	 	(a)	 	Except as expressly modified hereby, the Agreement remains unaltered and in
full force and effect. Borrowers acknowledge that Bank has made no oral
representations to Borrowers with respect to the Agreement and this Amendment thereto
and that all prior understandings between the parties are merged into the Agreement as
amended by this writing. All Loans outstanding on the date of execution of this
Amendment shall be considered for all purposes to be Loans outstanding under the
Agreement as amended by this Amendment.

	 	(b)	 	Capitalized terms used and not otherwise defined herein will have the meanings
set forth in the Agreement.

	 	(c)	 	Nothing contained herein will be construed as waiving any default or Event of
Default under the Agreement or will affect or impair any right, power or remedy of the
Bank under or with respect to the Loans, the Agreement, or any other agreement or
instrument guaranteeing, securing or otherwise relating to the Loans.

	 	(d)	 	This Amendment shall be considered an integral part of the Agreement, and all
references to the Agreement in the Agreement itself or any document referring thereto
shall, on and after the date of execution of this Amendment, be deemed to be references
to the Agreement as amended by this Amendment.

	 	(e)	 	This Amendment will be binding upon and inure to the benefit of Borrowers and
Bank and their respective successors and assigns.

 

2

 

	 	(f)	 	All representations, warranties and covenants made by Borrowers herein will
survive the execution and delivery of this Amendment.

	 	(g)	 	This Amendment will, in all respects, be governed and construed in accordance
with the laws of the State of Ohio.

	 	(h)	 	This Amendment may be executed in one or more counterparts, each of which will
be deemed an original and all of which together will constitute one and the same
instrument.

IN WITNESS WHEREOF, Borrowers and Bank have executed this Agreement by their duly authorized
officers as of the date first above written.

	 	 	 	 	 	 	 	 	 	 	 
	MERIDIAN BIOSCIENCE
CORPORATION	 	 	 	MERIDIAN BIOSCIENCE, INC.	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By:  

	/s/ John A. Kraeutler
 

	 	 	 	By:  
	/s/ John A. Kraeutler
 

	 	 
	 

	Its: 	Chief Executive Officer
	 	 	 	 
	Its: 	Chief Executive Officer	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	OMEGA TECHNOLOGIES, INC.	 	 	 	MERIDIAN LIFE SCIENCE, INC.	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By: 

	/s/ John A. Kraeutler
	 	 	 	By: 
	/s/ John A. Kraeutler	 	 
	 

	 
	 	 	 	 	 	 	 
	 

	Its: 	Chief Executive Officer
	 	 	 	 
	Its: 	Chief Executive Officer	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	FIFTH THIRD BANK	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By: 

	/s/ John M. Covington	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 	 
	 

	Its: 	Vice President	 	 	 	 	 	 	 	 

 

3exv10w1

Exhibit 10.1

Quiksilver, Inc.

Incentive Compensation Plan

 

	I.	 	INTRODUCTION
	 
	 	 	This plan represents an opportunity for cash bonus compensation for Quiksilver, Inc.’s (the
“Company”) executive officers.
	 
	II.	 	MEASUREMENT CRITERIA
	 
	 	 	Incentive targets are expressed as a percentage of each participant’s annual base salary as
determined by the Compensation Committee.
	 
	 	 	Financial performance is measured based on achievement of one or more Company or individual
targets, and may include without limitation targets relating to a participant’s area of
direct responsibility and/or such participant’s next highest level of responsibility, all as
determined by the Compensation Committee in its discretion. For example, certain executive
officers may be incentivized principally on the basis of consolidated financial results,
while others may be incentivized to achieve some combination of regional and consolidated
financial results.
	 
	 	 	For the avoidance of doubt, the Compensation Committee shall have discretion to reduce or
eliminate any participant’s right to a bonus payment hereunder at any time, and for any
reason.
	 
	 	 	The plan period will correspond to the fiscal year of the Company or such other period(s) as
determined by the Compensation Committee.
	 
	III.	 	TIMING OF PAYMENT
	 
	 	 	Payments will be calculated on an annual basis or such other times as determined in the
discretion of the Compensation Committee. Every effort will be made to issue payment within
60 days after the end of the plan period for which such payment is earned, provided,
however, that in no event will payments be made later than March 15 of the year following
the year in which the payment is earned. Except as provided in Section IV below, the
participant must be employed on the payment date in order to receive his or her payment.
	 
	IV.	 	ELIGIBILITY

	 	a.	 	Participation: The Compensation Committee shall determine, in its
discretion, those executive officers who are eligible to participate in the plan.
	 
	 	b.	 	Service Requirements:

	 	i.	 	In the event that a participant’s employment is terminated for
any reason other than as provided in (ii) below or as otherwise provided in a

 

 

	 	 	 	participant’s employment agreement with the Company, prior to the applicable
payment date, the participant will forfeit his or her rights to any payments
under the plan.

	 	ii.	 	If the participant retires, dies or terminates employment by
reason of his or her permanent disability, unless otherwise determined by the
Compensation Committee, the participant will be entitled to a payment based on
actual performance in accordance with the terms of the plan and prorated based
on the length of the participant’s service during the applicable plan period.
Any such payments will be made as provided in Section III above.

	V.	 	ADMINISTRATION APPROVALS
	 
	 	 	As described above, incentive compensation for participants for each plan period will be
determined in the discretion of the Compensation Committee. The Compensation Committee
shall have the authority to set performance targets and measurable personal objectives for
all participants for each plan period and to make the ultimate determination as to whether a
participant will receive cash compensation under the plan.
	 
	VI.	 	LIMITATIONS AND RESTRICTIONS
	 
	 	 	In accepting payment under this plan, the participant acknowledges that: (a) this plan, and
the right to any payment hereunder, may be terminated, amended or modified at any time by
the Compensation Committee without prior notice to participants; (b) the grant of a payment
is voluntary and occasional and does not create any contractual or other right to receive
future grants; (c) all decisions with respect to future payments, if any, will be at the
sole discretion of the Compensation Committee; (d) in consideration of the grant of payment
under this plan, no claim or entitlement to compensation or damages shall arise from the
loss of payment resulting from termination of the participant’s active employment and the
participant irrevocably releases the Company from any such claim that may arise; and (e)
payment under this plan does not constitute an express or implied promise of continued
engagement as an employee and shall not interfere with the participant’s right or the
Company’s right to terminate the participant’s employment at any time for any or no reason.
	 
	VII.	 	RESPONSIBILITY FOR TAXES
	 
	 	 	Regardless of any action the Company takes with respect to any or all income tax, payroll
tax or other tax-related withholding related to the payment under this plan (“Tax-Related
Items”), the participant acknowledges that the ultimate liability for all Tax-Related Items
legally due by him or her is and remains the participant’s responsibility and the Company
(a) makes no representations or undertakings regarding the treatment of any Tax-Related
Items and (b) does not commit to structure the terms of the payment under this plan to
reduce or eliminate the participant’s liability for Tax-Related Items. The participant
authorizes the Company to withhold all applicable Tax-Related Items legally payable by the
participant from his or her wages or other cash compensation paid to the participant.

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