Document:

exv10w1

 

Exhibit 10.1

AMENDMENT NO. 1 TO

SERIES C CONVERTIBLE PREFERRED STOCK PURCHASE AGREEMENT

     This Amendment No. 1 to Series C Convertible Preferred Stock Purchase
Agreement (the “Amendment”) is entered into as of December 11, 2002, by and
between Computer Motion, Inc., a Delaware corporation (the “Company”), and the
persons and entities listed on Exhibit A hereto (each a “Purchaser” and
collectively, the “Purchasers”).

R E C I T A L S

     WHEREAS, the Company and the Purchasers have entered into that certain
Series C Convertible Preferred Stock Purchase Agreement, dated as of October
31, 2002 (the “Agreement”), pursuant to which the Company sold and issued to
the Purchasers shares of the Company’s Series C Convertible Preferred Stock and
warrants to purchase shares of the Company’s Common Stock;

     WHEREAS, the parties desire to amend the Agreement as hereinafter set
forth.

     NOW, THEREFORE, the parties agree as follows:

A G R E E M E N T

     1.     Defined Terms. Capitalized terms used but not defined in this
Amendment shall have the meanings given to them in the Agreement, as amended
hereby.

     2.     Stockholder Approval. Section 3.13 shall be amended and restated to
read, in its entirety, as follows:

     “Within twenty (20) days following the Closing, the Company shall solicit
by proxy stockholder approval to authorize (i) the issuance to the Purchasers
of shares of Common Stock which the Purchasers could acquire upon conversion of
the Preferred Shares in accordance with the terms thereof, which maximum amount
is in excess of 20% of the currently outstanding shares of Common Stock of the
Company and (ii) the purchase by Robert W. Duggan of up to an aggregate of four
million dollars ($4,000,000) Stated Value of Series C Preferred Shares. If
stockholder approval is not obtained within ninety (90) days following the
Closing, each Purchaser shall have the option to redeem one-half (1/2) of its
Series C Preferred Shares originally purchased at a redemption price of one
hundred percent (100%) of the face value of such Series C Preferred Shares plus
accrued and unpaid dividends and upon payment in full, the Purchasers shall
surrender certificates representing such redeemed Series C Preferred Shares for
cancellation.”

     3.     Effect of Amendment. Except as provided in this Amendment, all of the
terms and conditions of the Agreement shall remain in full force and effect.

     4.     Governing Law. This Amendment shall be governed by and construed in
accordance with the internal laws of the State of New York, without giving
effect to the

 

 

choice of law provisions. This Amendment shall not be interpreted or construed
with any presumption against the party causing this Amendment to be drafted.

     5.     Counterparts. This Amendment may be executed in any number of
counterparts, all of which taken together shall constitute one and the same
instrument and shall become effective when counterparts have been signed by
each party and delivered to the other parties hereto, it being understood that
all parties need not sign the same counterpart.

     IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
duly executed by their respective authorized officers as of the date first
written above.

	 	COMPUTER MOTION, INC.

	 	By:
 Name:

Title:

	 	PURCHASERS

	 	By:
 Name:

Title:Seventh Amendment dated August 23, 2002

  
 Exhibit 10.1.8 
  
 SEVENTH AMENDMENT 
 Dated as of August 23, 2002 
  
 This SEVENTH AMENDMENT (this “Amendment”) is among JACK IN THE BOX, INC. (formerly Foodmaker, Inc.), a
Delaware corporation (the “Borrower”), the financial institutions and other entities party to the Credit Agreement referred to below (the “Lenders”), and BANK OF AMERICA, N.A. (formerly NationsBank, N.A. (successor to
NationsBank of Texas, N.A.)), as L/C Bank (as defined in the Credit Agreement ) and as agent (the “Agent”) for Lenders and the Issuing Banks thereunder. 
  
 PRELIMINARY STATEMENTS: 
  
 1.    The Borrower, the Lenders, the Arranger, the Documentation Agent and the Agent have entered into a Credit Agreement dated as of April 1, 1998, as amended by the First Amendment dated as of August 24, 1998,
the Second Amendment dated as of February 27, 1999, the Third Amendment dated as of September 17, 1999, the Fourth Amendment dated as of December 6, 1999, the Fifth Amendment dated as of May 3, 2000 and the Sixth Amendment dated as of November 17,
2000 (as so amended, the “Credit Agreement.”) Capitalized terms used and not otherwise defined herein have the meanings assigned to such terms in the Credit Agreement. 
  
 2.    The Borrower has requested that the Lenders amend certain provisions of the Credit Agreement to permit and facilitate (a) an increase in the
aggregate principal amount of loans permitted to be made to franchisees and (b) the Borrower’s prepayment of certain outstanding indebtedness and other obligations. 
  
 3.    The Required Lenders are, on the terms and conditions stated below, willing to grant the requests of the Borrower. 
  
 NOW, THEREFORE, in consideration of the premises and for other good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the parties hereto agree as follows: 
  
 SECTION
1:    Amendments to Credit Agreement.  Effective as of the date hereof and subject to satisfaction of the conditions precedent set forth in Section 2 hereof, the Credit Agreement is hereby amended as follows:

  
 (a)    Section 6.02(f)(vii) of the Credit Agreement is hereby amended by replacing the amount
“$5,000,000” referred to therein to $25,000,000. 
  
 (b)    Section 6.02(k) of the
Credit Agreement is hereby amended by replacing the text of clause (i) of such Section with the following: 
 (i)    Prepay, redeem,
purchase, defease or otherwise satisfy prior to the scheduled maturity thereof in any manner any Debt other than (A) the prepayment of the Advances in accordance with the terms of this Agreement, (B) regularly scheduled or required repayments or
redmeptions of Surviving Debt, (C) the redemption of the Existing Senior Notes as contemplated hereby, (D) the redemption of the Existing Senior Subordinated Notes following the issuance of the senior subordinated notes described in clause (A) of
the definition of “Permitted Subordinated Debt,” (E) Debt incurred pursuant to the CRC Leases and (F) the CRC Excluded Debt. 

  
 SECTION 2:     Conditions to
Effectiveness.  This Amendment shall not be effective until each of the following conditions precedent shall been satisfied: 
  
 (a)    the Agent shall have executed this Amendment and shall have received counterparts of this Amendment executed by the Borrower and the Required Lenders and counterparts of the
Consent appended hereto (the “Consent”) executed by each of the Guarantors listed therein (such Guarantors, together with the Borrower, each a “Loan Party” and, collectively, the “Loan Parties”); and

  
 (b)    each of the representations and warranties in Section 3 below shall be true and
correct. 
  
 SECTION 3.     Representations and Warranties.  The Borrower
represents and warrants as follows: 
  
 (a)    Authority.  The Borrower
and each other Loan Party has the requisite corporate power and authority to execute and deliver this Amendment and the Consent, as applicable, and to perform its obligations hereunder and under the Loan Documents (as amended hereby) to which it is
a party. The execution, delivery and performance by the Borrower of this Amendment and by each other Loan Party of the Consent, and the performance by each Loan Party of each Loan Document (as amended hereby) to which it is a party have been duly
approved by all necessary corporate action of such Loan Party and no other corporate proceedings on the part of such Loan Party are necessary to consummate such transactions. 
  
 (b)    Enforceability.  This Amendment has been duly executed and delivered by the Borrower. The Consent has been duly executed
and delivered by each Guarantor. This Amendment and each Loan Document (as amended hereby) is the legal, valid and binding obligation of each Loan Party hereto and thereto, enforceable against such Loan Party in accordance with its terms, and is in
full force and effect. 
  
 (c)    Representation and Warranties.  The
representations and warranties contained in each Loan Document (other than any such representations and warranties that, by their terms, are specifically made as of a date other than the date hereof) are true and correct on and as of the date hereof
as though made on and as the date hereof 
  
 (d)    No Default.  No event
has occurred and is continuing that constitutes a Default or Event of Default. 
  
 SECTION
4.    References to and Effect on the Loan Documents.  (a) Upon and after the effectiveness of this Amendment, each reference in the Credit Agreement to “this Agreement”, “hereunder”,
“hereof” or words of like import referring to the credit Agreement, and each reference in the other Loan Documents to “the Credit Agreement”, “thereunder”, “thereof” or words of like import referring to the
Credit Agreement, shall mean and be a reference to the Credit Agreement as amended hereby. 
  
 (b)    Except as specifically amended above, the Credit Agreement and the other Loan Documents are and shall continue to be in full force and effect and are hereby in all respects ratified and confirmed.

  
 (c)    The execution, delivery and effectiveness of this Amendment shall not, except as
expressly provided herein, operate as a waiver of any right, power or remedy of any Lender, any Issuing Bank, the Arranger, the Documentation Agent or the Agent under any of the Loan Documents, nor constitute a waiver or amendment of any provision
of any of the Loan Documents 
  
 SECTION 5.     Counterparts.  This
Amendment may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed and delivered shall be deemed to be an original and all of which taken together shall constitute but one
and the same agreement. Delivery of an executed counterpart of a signature page to this Amendment of the Consent by facsimile shall be effective as delivery of a manually executed counterpart of this Amendment of such Consent. 

 
 SECTION 6.    Governing Law.  This Amendment shall be governed by, and construed in
accordance with, the laws of the State of California. 

  
 IN WITNESS WHEREOF, the parties hereto have caused this Seventh Amendment to be executed by their
respective officers thereuntoduly authorized, as of the date first written above. 
  
  
 
	 JACK IN THE BOX INC.
 (successor to Foodmaker, Inc.),
 a Delaware corporation
 
	 
	 By:     HAROLD L. SACHS
 

	    Name:  Harold L. Sachs
 
	    Title:  Vice President and Treasurer
 
	 
	 BANK OF AMERICA, NA. as Agent
 
	 
	 By:     RICHARD G. PARKHURST, JR.
 

	    Name:  Richard G. Parkhurst, Jr.
 
	    Title:  Managing Director
 
	 
	 Lenders
 
	 
	 BANK OF AMERICA, NA.
 
	 
	 By:     RICHARD G. PARKHURST, JR.
 

	    Name:  Richard G. Parkhurst, Jr.
 
	    Title:  Managing Director
 
	 
	 CREDIT LYONNAIS LOS ANGELES BRANCH
 
	 
	 By:     DIANNE M. SCOTT
 

	    Name:  Dianne M. Scott
 
	    Title:  First Vice President/Manager
 
	 
	 UNION BANK OF CALIFORNIA, N.A.
 
	 
	 By:     LINDA WELKER
 

	    Name:  Linda Welker
 
	    Title:  Vice President
 
	 
	 BANK ONE TEXAS, NA.
 
	 
	 By:     JOSEPH R. PERDENZA
 

	    Name:  Joseph R. Perdenza
 
	    Title:  Assistant Vice President
 

 

  
 
	 
	 CIBC, INC.
 
	 
	 By:    STEPHANIE E. DeVANE
 

	    Name:  Stephanie E. DeVane
 
	    Title:  Executive Director
               CIBC World Markets Corp., As Agent
 
	 
	 MORGAN GUARANTY TRUST CO.
 
	 
	 By:    ROBERT BOTTAMEDI
 

	    Name:  Robert Bottamedi
 
	    Title:  Vice President
 
	 
	 NATEXIS BANQUE - BFCE
 
	 
	 By:    GARY KANIA
 

	    Name:  Gary Kania
 
	    Title:  Vice President
 
	 
	 By:    JORDAN SADLER
 

	 Name:  Jordan Sadler
 
	 Title:  Assistant Vice President
 

 

 

  
 CONSENT 
 Dated as of August 23, 2002 
  
 The Undersigned, as Guarantors under the “Guaranty” (as
much terms are defined in and under the Credit Agreement referred to in the foregoing Seventh Amendment), each hereby consents and agrees to the foregoing Seventh Amendment and hereby confirms and agrees that the Guaranty is, and shall continue to
be, in full force and effect and is hereby ratified and confirmed in all respects except that, upon the effectiveness of, and on and after the date of, said Seventh Amendment, each reference in the Guaranty to the “Credit Agreement”,
“thereunder”, “thereof” and words of like imports to the Credit Agreement shall mean and be a reference to the Credit Agreement as amended by said Seventh Amendment. 
  

 
 
	 CP DISTRIBUTION CO., a Delaware corporation,
 CP WHOLESALE CO., a Delaware corporation and
 JACK IN THE BOX, INC., a New Jersey
corporation
 
	 
	 By:    LAWRENCE E. SCHAUF
 

	    Lawrence E. Schauf
 
	    Executive Vice President and Secretary
 
	 
	 FOODMAKER INTERNATIONAL FRANCHISING, INC.
 a Delaware corporation
 
	 
	 By:    HAROLD L. SACHS
 

	    Harold L. Sachs
 
	    Vice President and Treasurer

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