SEC Contract Filing

Filing Date: 2016-01-07

Document Content:
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<TYPE>EX-10.1
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<FILENAME>d110006dex101.htm
<DESCRIPTION>EX-10.1
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>EXECUTION VERSION </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>AMENDMENT NO. 11 TO CREDIT AGREEMENT </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This AMENDMENT NO. 11 TO CREDIT AGREEMENT (this &#147;<U>Amendment</U>&#148;) is made as of December&nbsp;31, 2015 (the &#147;<U>Effective
Date</U>&#148;), by and among CONNECTURE, INC. (&#147;<U>Connecture</U>&#148;), DESTINATIONRX, Inc. (&#147;<U>DestinationRX</U>&#148; and together with Connecture, collectively, the &#147;<U>Borrowers</U>&#148;), the Lenders (as defined below) party
hereto and Wells Fargo Bank, National Association (in its individual capacity, &#147;<U>Wells Fargo</U>&#148;), as Agent for the Lenders (in such capacity, the &#147;<U>Agent</U>&#148;). Capitalized terms used in this Amendment (including the
Recitals), to the extent not otherwise defined herein, shall have the same meaning as in the Credit Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>RECITALS </U></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Borrowers are party to that certain Credit Agreement, dated as of January&nbsp;15, 2013 (as the same has been amended and may be
further amended, restated, supplemented or otherwise modified from time to time, the &#147;<U>Credit Agreement</U>&#148;) among the Borrowers, the Agent and the lenders party thereto from time to time (the &#147;<U>Lenders</U>&#148;), pursuant to
which the Lenders have made certain loans and financial accommodations available to the Borrowers; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Borrowers have requested
that the Agent and the Lenders make certain amendments to the Credit Agreement; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Agent and the Lenders are willing to
amend such terms and conditions of the Credit Agreement on the terms and conditions expressly set forth herein. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">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 parties agree as follows: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1. <U>Amendments to Credit Agreement</U>. Effective as of the Effective Date, the Credit Agreement shall be amended as follows: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a). Section&nbsp;7(c) of the Credit Agreement shall be amended by deleting such subsection in its entirety and replacing it with the following
in lieu thereof: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">&#147;(c) <B>Liquidity. </B>(i)&nbsp;From November&nbsp;10, 2015 to December&nbsp;31, 2015, maintain Liquidity at all
times in an amount of not less than $7,500,000, (ii)&nbsp;from January&nbsp;1, 2016 to March&nbsp;31, 2016, maintain Liquidity at all times in an amount of not less than $5,000,000, (iii)&nbsp;from April&nbsp;1, 2016 to June&nbsp;30, 2016, maintain
Liquidity at all times in an amount of not less than $5,000,000, (iv)&nbsp;from July&nbsp;1, 2016 to September&nbsp;30, 2016, maintain Liquidity at all times in an amount of not less than $7,500,000, and (v)&nbsp;from and after October&nbsp;1, 2016,
maintain Liquidity at all times in an amount of not less than $10,000,000; <U>provided</U>, <U>however</U>, that solely in the event that (A)&nbsp;the Borrowers achieve a Fixed Charge Coverage Ratio, measured on a quarter-end basis, of no less than
1.25:1.00 for two consecutive quarters, as evidenced and demonstrated in a Compliance Certificate in form and substance acceptable to the Agent and (B)&nbsp;the Agent and the Borrowers shall have agreed to the applicable Total Leverage Ratio as
required pursuant to Section&nbsp;7(b) (the date of satisfaction of each of the conditions set forth in clauses (A)&nbsp;and (B)&nbsp;herein above, the &#147;<U>Covenant Trigger Date</U>&#148;), then Borrowers shall no longer be required to comply
with the Liquidity covenant set forth in this Section&nbsp;7(c).&#148; </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b). Section&nbsp;7(d) of the Credit Agreement shall be amended by deleting such subsection in
its entirety and replacing it with the following in lieu thereof: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">&#147;(d) <B>EBITDA</B>. Achieve EBITDA, measured quarterly on a
trailing twelve month basis at the end of each quarter, of at least the required amount set forth in the following table for the applicable period set forth opposite thereto: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>

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