Document:

exhibit_10-5.htm

    
 

    EXHIBIT
10.5

    
 

    CONSULTING AGREEMENT

    

    

    THIS CONSULTING AGREEMENT
(this "Agreement") is made effective for all purposes and in all respects as of
the date referenced below, by and between The Brink’s
Company  (hereinafter referred to as "Brink’s") and Robert T. Ritter
(hereinafter referred to as "Consultant").

    

    WHEREAS, Brink’s desires to
engage Consultant to perform certain tasks, duties and/or services as shall be
assigned to Consultant by Brink’s from time to time;

    

    WHEREAS, Consultant desires to
be so engaged by Brink’s; and

    

    WHEREAS, Brink’s and
Consultant desire to set forth in writing the terms and conditions of their
agreements and understandings.

    

    NOW, THEREFORE, in
consideration of the foregoing, of the mutual promises herein contained, and of
other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties hereto, intending legally to be bound, hereby
agree as follows:

    

    
      	
               
      

            	
              1.

            	
              Duties of
      Consultant. Consultant shall perform such tasks, duties and/or
      services for Brink’s as described in Schedule A
      attached hereto and made a part hereof, as it may be amended from time to
      time. Consultant agrees to perform work in a prompt, efficient and
      professional manner. Nothing contained herein shall require Brink’s to
      engage Consultant for, or Consultant to provide, a minimum number of days
      or be deemed to be a guarantee to or by Consultant of a minimum number of
      days of engagement under this
Agreement.

            

    

    

    
      	
               
      

            	
              2.

            	
              Term of
      Engagement. The term of Consultant’s engagement hereunder (the
      "Term") shall commence as of July 1, 2008 and shall continue until June
      30, 2009 or until either party shall provide written notice to the other
      of its desire to terminate such engagement, whichever occurs
      first.  Any notice of intent to terminate the engagement must be
      made thirty (30) days in advance of any contemplated termination of the
      Agreement.  Notwithstanding the foregoing, the termination of
      this Agreement for any reason shall not terminate or in any way affect
      Consultant’s covenants and obligations set forth in sections 5, 6, and 10
      hereof.

            

    

    

    
      	
               
      

            	
              3.

            	
              Compensation.
      Subject to compliance by Consultant with this Agreement, Brink’s shall pay
      Consultant the compensation specified in Schedule
      A.  During the Term, Brink’s shall not be obligated,
      under any circumstances, to pay for, or keep in effect, any
      hospitalization, health, or life insurance for the benefit of Consultant,
      to pay any employment or similar taxes, to make any tax withholdings or to
      provide any benefits that Brink’s provides to its
    employees.

            

    

    

    
      	
               
      

            	
              4.

            	
              Expenses
      Incurred. During the Term, Brink’s shall pay or promptly reimburse
      Consultant for all reasonable travel, long-distance telephone and other
      business expenses paid or incurred by Consultant in connection with the
      performance of Consultant’s duties 

            

    

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
            	
               

            	
                    
                hereunder,
      upon presentation of expense statements, vouchers or other evidence of
      expenses as required by Brink’s business expense reimbursement policy and
      all expense reimbursements shall be in accordance with such
      policy.

              

            

    

     

    
      	
               
      

            	
              5.

            	
              Treatment of
      Information. Consultant acknowledges that Consultant shall or may
      be making use of, viewing and adding to confidential information of a
      special and unique nature and value relating to such matters as Brink’s
      business practices, trade secrets, systems, designs, methods, computer
      software programs, documentation, manuals, white papers, other
      confidential reports and communications and lists of and information
      relating to suppliers, customers and prospects ("Confidential
      Information"). Consultant further acknowledges that any information and
      materials received by Brink’s from third parties in confidence shall be
      included in the definition of Confidential Information. Consultant agrees
      that Consultant shall not directly or indirectly, disclose, divulge,
      reveal, report, publish, transfer or use, for any purpose whatsoever, any
      Confidential Information to any third party. Consultant acknowledges that
      Brink’s holds all right, title, and interest in and to all tangible and
      intangible incidents of the Confidential Information and that this
      agreement conveys to Consultant only a limited right to use the
      Confidential Information in the course of performing this Agreement. Such
      right is fully revocable in accordance with the provisions of this
      Agreement. Consultant further agrees that, except for such right of use,
      Consultant shall not assert any right, title, or interest in or to the
      Confidential Information and shall hold all Confidential Information in
      strict confidence.

            

    

    

    
      	
               
      

            	
              6.

            	
              Ownership of
      Information. Consultant covenants and agrees that all right, title
      and interest in any findings, reports, inventions, writings, disclosures,
      discoveries, computer code, developments and improvements written,
      invented, made or conceived by Consultant in the course of or arising out
      of this Agreement (hereinafter referred to as "Work Product") shall remain
      the sole and exclusive property of Brink’s and shall be a work made for
      hire. Consultant agrees to disclose all Work Product to Brink’s and agrees
      to execute any instruments and to do all other things reasonably requested
      by Brink’s (both during and after Consultant’s engagement by Brink’s) in
      order to vest more fully in Brink’s all ownership rights in Work
      Product.

            

    

    

    
      	
               
      

            	
              7.

            	
              Indemnification.
      Brink’s agrees to indemnify and defend Consultant against any and all
      claims, suits and actions brought against Consultant arising out of or
      related to the performance by Consultant of services under this
      Agreement.

            

    

    

    
      	
               
      

            	
              8.

            	
              No Prior
      Agreements. Consultant represents that Consultant’s performance
      under this Agreement does not and shall not breach any duty or any
      agreement or understanding to which Consultant is a party or may be bound.
      Consultant covenants and agrees that Consultant shall not disclose to
      Brink’s, or induce Brink’s to use, any proprietary information, knowledge
      or data belonging to any previous employer or client or
      others.

            

    

    

    
      	
               
      

            	
              9.

            	
              Independent
      Contractor. Consultant shall at all times be an independent
      contractor hereunder, and not an agent, employee or representative of
      Brink’s, and no act, action or omission to act of Consultant shall in any
      way be binding upon or obligate Brink’s. Consultant shall not be treated
      as an employee for Federal tax purposes. Consultant
  

            

    

     

     

    
      
        
        

      

      
        - 2
-

        
          

        

      

      
        
        

      

    

     

    
      	
            	
               

            	
              hereby
      represents and warrants to Brink’s that Consultant is an independent
      contractor for Federal, state and local tax purposes. Further, Consultant
      hereby covenants and agrees to pay any and all Federal, state and local
      taxes required by law to be paid by an independent contractor, including,
      without limitation, any taxes imposed by the Self Employment Contribution
      Act.  Consultant further understands that, as an independent
      contractor, Consultant will not receive overtime premium
    pay.

            

    

     

    
      	
               
      

            	
              10.

            	
              Governing Law and
      Venue. In view of the fact that the headquarters office of Brink’s
      is located in Virginia, the construction and interpretation of this
      Agreement shall at all times and in all respects be governed by the
      substantive laws of Virginia without regard to its rules regarding
      conflicts of law.  Any legal action taken by either party shall
      take place in the Federal District Court, Eastern District of Virginia,
      and the parties hereby submit to the jurisdiction of such court for the
      adjudication of any dispute
hereunder.

            

    

    

    
      	
               
      

            	
              11.

            	
              Notices. Any
      notice required to be given hereunder shall be sufficient if in writing,
      and received by overnight courier service (with proof of service) or
      certified or registered mail (return receipt requested, first-class
      postage prepaid), in the case of Consultant, to Consultant’s address on
      record with Brink’s or such other address as Consultant may advise in
      writing, in the case of Brink’s, to its Headquarters address, 1801
      Bayberry Court, Suite 400, Richmond, VA 23226, attention “Corporate
      Secretary.”

            

    

    

    
      	
               
      

            	
              12.

            	
              General. This
      Agreement contains the entire agreement and understanding by and between
      the parties with respect to the subject matter hereof, and no
      representations, promises, agreements or understandings, written or oral,
      not herein contained shall be of any force or effect. No change or
      modification hereof shall be valid or binding unless the same is in
      writing and signed by the party intended to be bound. This Agreement shall
      be binding upon, and shall inure to the benefit of, Brink’s and
      Consultant, and their respective successors. However, Consultant may not
      assign this agreement or any duties hereunder without the express written
      authorization of Brink’s. The provisions of this Agreement shall be deemed
      severable, and the invalidity or unenforceability of any one or more of
      the provisions hereof shall not affect the validity and enforceability of
      the other provisions hereof. The headings and other captions in this
      Agreement are for convenience and reference only and shall not be used in
      interpreting, construing or enforcing any of the provisions of this
      Agreement. Neither party shall be liable for the failure to perform its
      obligations under this Agreement due to events beyond such party’s
      reasonable control including, but not limited to, strikes, riots, wars,
      fire, acts of God or acts in compliance with any applicable law,
      regulation or order (whether valid or invalid) of any court or
      governmental body. No waiver of any provision of this Agreement shall be
      valid unless the same is in writing and signed by the party against whom
      such waiver is sought to be enforced; moreover, no valid waiver of any
      provision of this Agreement at any time shall be deemed a waiver of any
      other provision of this Agreement at such time or shall be deemed a valid
      waiver of such provision at any other
time.

            

    

    

    

    
      
        
        

      

      
        - 3
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    IN WITNESS WHEREOF, Brink’s
and Consultant have duly executed this Agreement intending to be bound
thereby.

     

    
      	
              THE
      BRINK’S COMPANY

            	 
      	
              CONSULTANT

            
	 
      	 
      	 
      
	 
      	 
      	 
      
	
              By:       /s/
      Frank Lennon

            	 
      	
              /s/ Robert T.
      Ritter

            
	
              Frank Lennon

            	 
      	
              Robert T.
  Ritter

            
	
              Title:    Vice
      President

            	 
      	 
      

    

    

    DATED:
April 30, 2008

    

    
      
        
           

        

        
          - 4
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    SCHEDULE
A

    

    

    Duties:  Consultant
shall perform such tasks, duties and/or services as are mutually agreed by the
parties.  Unless otherwise directed by Brink’s, Consultant will report
to Michael Dan, or his designee(s), in connection with the performance of such
tasks, duties and/or services.

    

    Compensation:  During
the Term, Consultant shall receive compensation in the form of a monthly fee, in
the amount of $12,500.00 (“Monthly Fee”), plus an hourly fee of $500.00 for each
hour in which Consultant performs the consulting duties and/or services required
under the Agreement, including any time required to be spent traveling under the
Agreement (the “Hourly Fee”).  With respect to the Hourly Fee,
Consultant shall be guaranteed a minimum of four hours on any day in which he is
requested to perform, and does perform, services under this
Agreement.  Consultant will advise Brink’s on a monthly basis of the
days worked for which Consultant is entitled to compensation under this
provision.   This monthly report will be made in writing and
delivered to Frank Lennon or such other individual as designated by Brink’s, and
will include a summary of  each reported day of
work.  Nothing contained herein shall require Brink’s to engage
Consultant for, or Consultant to provide, a minimum number of days or be deemed
to be a guarantee to or by Consultant of a minimum number of days of engagement
under the Agreement.  The Monthly Fee shall be paid to Consultant on a
monthly basis in arrears on the last day of the month.  The Hourly Fee
shall be paid in arrears within 15 days of receipt by Brink’s of Consultant’s
monthly report as described above.

    

    *
* * * * * * * *

    

    
      
        
          
             

          

           

        

        
          - 5
-exhibit_10-1.htm

    
       

      
        
          Exhibit
10.1

        

      

    

    EXECUTION
COPY

     

    AMENDMENT
NO. 1

     

    Dated as
of February 21, 2008

     

    to

     

    CREDIT
AGREEMENT

     

    Dated as
of June 19, 2007

     

    THIS
AMENDMENT NO. 1 (“Amendment”) is made
as of February 21, 2008 by and among Tennant Company (the “Company”), the
financial institutions listed on the signature pages hereof and JPMorgan Chase
Bank, National Association, as Administrative Agent (the “Administrative
Agent”), under that certain Credit Agreement dated as of June 19, 2007 by
and among the Borrower, the Lenders and the Administrative Agent (as amended,
supplemented or otherwise modified from time to time, the “Credit
Agreement”).  Capitalized terms used herein and not otherwise
defined herein shall have the respective meanings given to them in the Credit
Agreement.

     

    WHEREAS,
the Company has requested that the Lenders and the Administrative Agent agree to
certain amendments to the Credit Agreement;

     

    WHEREAS,
the Lenders party hereto and the Administrative Agent have agreed to such
amendments on the terms and conditions set forth herein;

     

    NOW,
THEREFORE, in consideration of the premises set forth above, the terms and
conditions contained herein, and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the Company, the
Lenders party hereto and the Administrative Agent have agreed to enter into this
Amendment.

     

    1. Amendments to Credit
Agreement.  Effective as of the date of satisfaction of the
conditions precedent set forth in Section 2 below, the
Credit Agreement is hereby amended as follows:

     

    (a) The
definition of “Foreign
Currency Sublimit” set forth in Section 1.01 of the
Credit Agreement is amended to delete the reference to “$75,000,000” therein and
to substitute “at any time, an amount equal to the Aggregate Commitment at such
time” therefor.

     

    (b) The
definition of “Foreign
Subsidiary Borrower Sublimit” set forth in Section 1.01 of the
Credit Agreement is amended to delete the reference to “$50,000,000” therein and
to substitute “$100,000,000” therefor.

     

    (c) Clause
(c) of Section
6.01 of the Credit Agreement is amended and restated in its entirety as
follows:

     

    (c)           Indebtedness
of the Company to any Subsidiary and of any Subsidiary to the Company or any
other Subsidiary; provided that
Indebtedness of any Subsidiary that is not a
Loan Party to any Loan Party shall be subject to the limitations set forth in
Section 6.04(c);

    
      	
              CH1
      4130434v.5

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    (d) Clause
(h) of Section
6.01 of the Credit Agreement is amended and restated in its entirety as
follows:

     

    (h)           Indebtedness
of Foreign Subsidiaries in an aggregate principal amount not exceeding
$15,000,000 at any time outstanding;

    

    (e) Clause
(c) of Section
6.04 of the Credit Agreement is amended and restated in its entirety as
follows:

     

    (c)           investments,
loans or advances made by the Company in or to any Subsidiary and made by any
Subsidiary to the Company or any other Subsidiary (provided that not more than
$50,000,000 in investments, loans or advances or capital contributions may be
made and remain outstanding, during the term of this Agreement, by any Loan
Party to a Subsidiary which is not a Loan Party);

    

    (f) Each
reference to “Secured Obligations” set forth in the Credit Agreement is amended
to instead be a reference to “Obligations”.

     

    2. Conditions of
Effectiveness.  The effectiveness of this Amendment is subject
to the conditions precedent that (a) the Administrative Agent shall have
received counterparts of this Amendment duly executed by the Company, the
Required Lenders and the Administrative Agent and the Consent and Reaffirmation
attached hereto duly executed by the Subsidiary Guarantors, (b) the Company
shall have paid to the Administrative Agent, for the account of each Lender
which delivers its executed signature page hereto by such time as is requested
by the Administrative Agent, an amendment fee in an amount equal to $2,500 for
each such Lender and (c) the Company shall have paid all fees and expenses of
the Administrative Agent and its affiliates (including, to the extent invoiced,
reasonable attorneys’ fees and expenses) in connection with this Amendment and
the other Loan Documents.

     

    3. Representations and
Warranties of the Company.  The Company hereby represents and
warrants as follows:

     

    (a) This
Amendment and the Credit Agreement, as amended hereby, constitute legal, valid
and binding obligations of the Company and are enforceable against the Company
in accordance with their terms, subject to applicable bankruptcy, insolvency,
reorganization, moratorium or other laws affecting creditors’ rights generally
and subject to general principles of equity, regardless of whether considered in
a proceeding in equity or at law.

     

    (b) As of the
date hereof and giving effect to the terms of this Amendment, (i) no Default
shall have occurred and be continuing and (ii) the representations and
warranties of the Company set forth in the Credit Agreement, as amended hereby,
are true and correct as of the date hereof.

     

    4. Reference to and Effect on
the Credit Agreement.

     

    (a) Upon the
effectiveness hereof, each reference to the Credit Agreement in the Credit
Agreement or any other Loan Document shall mean and be a reference to the Credit
Agreement as amended hereby.

     

    (b) Except as
specifically amended above, the Credit Agreement and all other documents,
instruments and agreements executed and/or delivered in connection therewith
shall remain in full force and effect and are hereby ratified and
confirmed.

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    (c) The
execution, delivery and effectiveness of this Amendment shall not operate as a
waiver of any right, power or remedy of the Administrative Agent or the Lenders,
nor constitute a waiver of any provision of the Credit Agreement or any other
documents, instruments and agreements executed and/or delivered in connection
therewith.

     

    5. Governing
Law.  This Amendment shall be construed in accordance with and
governed by the law of the State of New York.

     

    6. Headings.  Section
headings in this Amendment are included herein for convenience of reference only
and shall not constitute a part of this Amendment for any other
purpose.

     

    7. Counterparts.  This
Amendment may be executed by one or more of the parties hereto on any number of
separate counterparts, and all of said counterparts taken together shall be
deemed to constitute one and the same instrument.  Signatures
delivered by facsimile or PDF shall have the same force and effect as manual
signatures delivered in person.

     

    [Signature
Pages Follow]

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    

    IN
WITNESS WHEREOF, this Amendment has been duly executed as of the day and year
first above written.

     

    

    TENNANT
COMPANY,

    as the
Company

    

    

    By:_____________________________________

    Name:

    Title:

    

    

    By:_____________________________________

    Name:

    Title:

    

    

    By:_____________________________________

    Name:

    Title:

    

    

    By:_____________________________________

    Name:

    Title:

    

    
      
        
          Signature
Page to Amendment No. 1

          Tennant
Company

          Credit
Agreement dated as of June 19, 2007

          

        

         

      

      
         

        
          

        

      

      
         

      

    

    

    JPMORGAN
CHASE BANK, NATIONAL ASSOCIATION, individually as a Lender, as Swingline Lender,
as Issuing Bank and as Administrative Agent

    

    

    By:_____________________________________

     

    Name:

     

    Title:

     

    
      
        
          Signature
Page to Amendment No. 1

          Tennant
Company

          Credit
Agreement dated as of June 19, 2007

          

        

         

      

      
         

        
          

        

      

      
         

      

    

    BANK OF
AMERICA, N.A., individually as a Lender and as Co-Syndication Agent

    

    

    By:_____________________________________

     

    Name:

     

    Title:

     

    
      
        
          Signature
Page to Amendment No. 1

          Tennant
Company

          Credit
Agreement dated as of June 19, 2007

          

        

         

      

      
         

        
          

        

      

      
         

      

    

    BMO
CAPITAL MARKETS FINANCING, INC., individually as a Lender and as
Co-Documentation Agent

    

    

    By:_____________________________________

     

    Name:

     

    Title:

     

    
      
        
          Signature
Page to Amendment No. 1

          Tennant
Company

          Credit
Agreement dated as of June 19, 2007

          

        

         

      

      
         

        
          

        

      

      
         

      

    

    U.S. BANK
NATIONAL ASSOCIATION, individually as a Lender and as Co-Documentation
Agent

    

    

    By:_____________________________________

     

    Name:

     

    Title:

     

    
      
        
          Signature
Page to Amendment No. 1

          Tennant
Company

          Credit
Agreement dated as of June 19, 2007

          

        

         

      

      
         

        
          

        

      

      
         

      

    

    WELLS
FARGO BANK, NATIONAL ASSOCIATION,

    as a
Lender

    

    

    By:_____________________________________

     

    Name:

     

    Title:

     

    
      
        
          Signature
Page to Amendment No. 1

          Tennant
Company

          Credit
Agreement dated as of June 19, 2007

          

        

         

      

      
         

        
          

        

      

      
         

      

    

    CONSENT
AND REAFFIRMATION

     

    Each of
the undersigned hereby acknowledges receipt of a copy of the foregoing Amendment
No. 1 to the Credit Agreement dated as of June 19, 2007 (as the same may be
amended, restated, supplemented or otherwise modified from time to time, the
“Credit
Agreement”) by and among Tennant Company (the “Company”), the
Foreign Subsidiary Borrowers from time to time party thereto (together with the
Company, the “Borrowers”), the
financial institutions from time to time party thereto (the “Lenders”) and
JPMorgan Chase Bank, National Association, as Administrative Agent (the “Administrative
Agent”), which Amendment No. 1 is dated as of February 21, 2008 (the
“Amendment”).  Capitalized
terms used in this Consent and Reaffirmation and not defined herein shall have
the meanings given to them in the Credit Agreement.   Without in
any way establishing a course of dealing by the Administrative Agent or any
Lender, each of the undersigned consents to the Amendment and reaffirms the
terms and conditions of the Subsidiary Guaranty and any other Loan Document
executed by it and acknowledges and agrees that such agreements and each and
every such Loan Document executed by the undersigned in connection with the
Credit Agreement remains in full force and effect and is hereby reaffirmed,
ratified and confirmed.  All references to the Credit Agreement
contained in the above-referenced documents shall be a reference to the Credit
Agreement as so modified by the Amendment and as the same may from time to time
hereafter be amended, modified or restated.

     

    Dated:  February
21, 2008

     

    [Signature
Page Follows]

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	 
      	
              TENNANT
      SALES AND SERVICE COMPANY

               

               

              By:___________________________________

              Name:

              Title:

            

    

    

    
      
        
          Signature
Page to Consent and Reaffirmation to Amendment No. 1

          Tennant
Company

          Credit
Agreement dated as of June 19, 2007

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