Document:

Exhibit 10.1

Re: Interim Chief Executive Officer

 

Dear Gary:

 

This
  letter sets forth the terms and conditions of our agreement with respect to
  your serving as interim Chief Executive Officer ("CEO")
of Zygo Corporation (the "Company"). Assuming the terms of this letter
comport with your understanding of our agreement, please sign your name in the space provided below and return the signed
agreement to me. We are very pleased that you have agreed to accept this new position and we
look forward to working with you in that capacity.

 

The term of your service as interim CEO began effective
as of November 11, 20 I 3 and, unless sooner terminated, will continue until the date
a permanent CEO commences employment with the Company. Either you or the Company may terminate
this agreement at any time for any reason or for no reason.

 

Your duties and authority as interim Chief Executive
Officer will be prescribed by the Board of Directors of the Company (the “Board”)
and will be commensurate with those of a chief executive officer of a public company of comparable
size and with a similar business as the Company. As interim CEO, you will report directly
to the Board and you will devote such time as is necessary in order to meet the demands of your
position as determined by the Board. While you are serving as interim CEO, you will not engage
in other activities (business or otherwise) that would conflict with the interests of the Company
or your ability to perform the duties of your position.

 

During the period of your service under this agreement,
you will continue to serve as a member of the Board (to the extent so elected by the Company’s
stockholders). However, it is understood and agreed that due to "independence"
requirements, as set forth in SEC and Nasdaq rules and regulations, it is not expected that you will serve
on any committees of the Board. You will be treated in the same manner as employee-directors
and, as such, you will not earn compensation for your Board service while you are serving as
interim CEO. Notwithstanding the foregoing, your service as interim CEO and your continuing
Board service will be taken into account for purposes of any outstanding equity-based compensation
award received by you in connection with your services as a non-employee director.
Upon the expiration of your service as interim CEO, you will remain on the Board (to the extent
so elected by the Company's stockholders) as a non-employee director, and your subsequent service
as a non-employee director will be taken into account for purposes of determining your credited
service with respect to any equity compensation award you may receive in your capacity
as interim CEO.

 

As compensation for your services as interim CEO,
you will be paid at the rate of $215.00 per hour, provided that the amount payable to you for
any week will not be less than $860.00 nor more than $8,600.00, regardless of the number of
hours you work during that week. After the completion of each week of employment, you will
submit to the Company a written notice specifying the number of hours worked by you during
such week; provided, that your failure to submit such a written notice on a timely basis
shall not relieve the Company of its obligation to pay you for the hours actually worked, as and when
you submit the actual written notice. Your cash compensation will be payable on a bi-weekly
basis, in accordance with the Company's normal payroll payment policies. In addition, you
will receive a restricted stock unit award issued under the Company's 2012 Equity Incentive Plan
(the "2012 Plan") covering 10,000 shares of the Company's common stock, which will vest in full
on the earliest of (a) the date the Company hires a new permanent chief executive officer and
(b) November 11,2014, and will otherwise be in accordance with the terms of the 2012 Plan.
The terms and conditions of your restricted stock

1

unit award will be subject to the terms of a separate
award agreement and the Company's 2012 Equity Incentive Plan.

 

The Company will reimburse you for all reasonable
and necessary expenses incurred by you in  connection with your performance of services as
interim CEO, in accordance with and subject to  applicable Company policies and guidelines. You
will be entitled to participate in any group  health, retirement savings or other employee benefit
plan of the Company, applicable generally to  senior executive officers of the Company, provided
that you will not be entitled to any paid  vacation.

 

The Company, and its successors and/or assigns
will indemnify and defend you to the fullest  extent provided by the By-Laws and Certificate
of Incorporation of the Company with respect to  any claims that may be brought against you arising
out of any action taken or not taken in your  capacity as interim CEO of the Company (whether
in connection with the business of the  Company or the business of any direct or indirect
subsidiary or affiliate of the Company).

 

In connection with your service as interim CEO,
you have executed and delivered to the  Company the Company's standard form of Proprietary
Information and Assignment Agreement.

 

This agreement constitutes the entire agreement
between the Company and you with respect to  the subject matter hereof. To the extent practical
and consistent with our mutual intentions, in the  event that any provision of this agreement is held
to be unenforceable, such holding shall not  affect the enforceability of the other provisions
of this agreement. This agreement may not be  amended other than pursuant to a written instrument
signed by you and the Company. This  agreement may be signed in counterparts and the
counterparts taken together will constitute one  agreement. This agreement will be governed by and
construed in accordance with the laws of the  State of Connecticut.

 

 

 

	Accepted and Agreed

	Very truly yours,

	 	 
	/s/ Gary K Willis

	/s/ Samuel Fuller

	 	 
	Gary Willis
	11/13/2013

 

 

2Exhibit 10.1

AMENDMENT NO. 6 TO LOAN DOCUMENTS

This Amendment No. 6 to Loan Documents (this "Amendment") dated as of November 15, 2013, is between BANK OF AMERICA, N.A. (the "Lender") and HIBBETT SPORTS, INC. (the "Borrower").

RECITALS

A.            The Borrower has executed various documents concerning credit extended by the Lender, including, without limitation, the following documents (the "Loan Documents"):

	
1.

	
A certain letter agreement dated January 29, 2008 between the Borrower and the Lender, as amended by Amendment No. 1 to Loan Documents dated as of November 20, 2008, Amendment No. 2 to Loan Documents dated as of November 20, 2009, Amendment No. 3 to Loan Documents dated as of November 19, 2010, Amendment No. 4 to Loan Documents dated as of November 18, 2011 and Amendment No. 5 to Loan Documents dated as of November 16, 2012 (collectively, the "Letter Agreement").

	
2.

	
A certain Demand Note dated February 4, 2008 in the original principal amount of $50,000,000.00 executed by the Borrower in favor of the Lender, as amended by Amendment No. 1 to Loan Documents dated as of November 20, 2008, Amendment No. 2 to Loan Documents dated as of November 20, 2009, Amendment No. 3 to Loan Documents dated as of November 19, 2010, Amendment No. 4 to Loan Documents dated as of November 18, 2011 and Amendment No. 5 to Loan Documents dated as of November 16, 2012 (collectively, the "Note").

B.            The Lender and the Borrower desire to amend the Loan Documents as set forth herein.

NOW, THEREFORE, for TEN DOLLARS ($10.00) in hand paid and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound hereby, agree as follows:

1.            Definitions.  Capitalized terms used but not defined in this Amendment shall have the meaning given to them in the Loan Documents.

2.            Amendments to Letter Agreement.  The Letter Agreement is hereby amended as follows:

	
(a)

	
By deleting "November 18, 2013" as the Expiration Date and substituting in lieu thereof "November 18, 2014".

	
(b)

	
By deleting the section entitled "Documentation" and substituting in lieu thereof the following:

		"Documentation:	The Loans shall be evidenced by that certain Demand Note dated February 4, 2008 executed by Borrower in favor of Lender, as amended by Amendment No. 1 to Loan Documents dated as of November 20, 2008, Amendment No. 2 to Loan documents dated as of November 20,2009, Amendment No. 3 to Loan Documents dated as of November 19, 2010, Amendment No. 4 to Loan Documents dated as of November 18, 2011, Amendment No. 5 to Loan Documents dated as of November 16, 2012 and Amendment No. 6 to Loan Documents dated as of November 15, 2013 (as it may be further amended or modified from time to time, the "Note").  The Borrower shall execute and deliver to the Lender such other documents as the Lender may reasonably request from time to time."

3.            Amendments to Note.  The Note is hereby amended as follows:

	
(a)

	
By deleting "November 18, 2013" from the 3rd paragraph and substituting in lieu thereof "November 18, 2014".

4.            Representations and Warranties.  When the Borrower signs this Amendment, the Borrower represents and warrants to the Lender that:  (a) this Amendment is within the Borrower's powers, has been duly authorized, does not conflict with any of the Borrower's organizational papers and is the legal, valid and binding obligation of the Borrower enforceable against it in accordance with its terms, and (b) that the person or persons executing this Amendment on behalf of the Borrower are duly appointed officers or other representatives of the Borrower with authority to execute and deliver this Amendment on behalf of the Borrower.

5.            Conditions.  This Amendment will be effective when each of the following conditions shall have been satisfied, as determined by the Lender in its sole discretion and the Lender shall have accepted this Amendment (notice of which acceptance is hereby waived by the Borrower).

	
(a)

	
The Lender has received evidence that the execution, delivery and performance by the Borrower of this Amendment and any instrument or agreement required under this Amendment have been duly authorized.

	
(b)

	
This Amendment has been executed by the Borrower and the Lender.

6.            Effect of Amendment; References.

	
(a)

	
Except as expressly amended hereby, all of the terms and conditions of the Loan Documents shall remain unchanged and in full force and effect and the Borrower hereby reaffirms its obligations under the Loan Documents to which it is a party as amended by this Amendment, without defense, right of set off or recoupment, claim or counterclaim of any kind or nature (and to the extent there exists any such defense, right of set off or recoupment, claim or counterclaim on the date hereof, the same is hereby forever released, discharged and waived by the Borrower).

	
(b)

	
This Amendment (i) is limited precisely as specified herein and does not constitute nor shall be deemed to constitute a modification, acceptance or waiver of any other provision of the Loan Documents, (ii) is not intended to be nor shall it be construed to create, a novation or an accord and satisfaction of any obligation or liability of the Borrower under the Loan Documents, and (iii) shall not prejudice or be deemed to prejudice any rights or remedies the Lender may now have or may in the future have under or in connection with the Loan Documents.

	
(c)

	
All references in any Loan Document to any other Loan Document amended hereby shall be deemed to be a reference to such Loan Document as amended by this Amendment.

7.            Miscellaneous.

	
(a)

	
This Amendment shall be governed by and construed in accordance with the laws of the state provided in the Loan Documents.

	
(b)

	
This Amendment may be executed in counterparts, each of which when so executed shall be deemed an original, but all such counterparts together shall constitute but one and the same instrument.  Delivery of an executed signature page of this Amendment by facsimile or electronic transmission shall be effective as a delivery of a manually executed counterpart thereof.

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed under seal and delivered by their respective duly authorized representatives on the date first written above

BANK OF AMERICA, N.A.

	
 

	
By:

	
/s/ David B. Jackson

	
 

	
Name:

	
David B. Jackson

	
 

	
Title:

	
Senior Vice President

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
HIBBETT SPORTS, INC.

	
 

	
By:

	
/s/ Scott Bowman

	
 

	
Name:

	
Scott Bowman

	
 

	
Title:

	
Senior Vice President and CFO

End of Exhibit 10.1

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