AMENDED AND RESTATED EMPLOYMENT AGREEMENTEmployment Agreement • May 12th, 2014 • Image Sensing Systems Inc • Measuring & controlling devices, nec • Minnesota
This AMENDED AND RESTATED EMPLOYMENT AGREEMENT, including attached Appendix B (collectively, the “Agreement”), is made by and between Image Sensing Systems, Inc., and its subsidiaries and divisions (collectively, “ISS”), and Dale E. Parker (“Parker”) as of the 22nd day of April, 2014 (the “Effective Date”).
AMENDED AND RESTATED EMPLOYMENT AGREEMENTEmployment Agreement • May 12th, 2014 • Image Sensing Systems Inc • Measuring & controlling devices, nec • Minnesota
This AMENDED AND RESTATED EMPLOYMENT AGREEMENT, including attached Appendix B (collectively, the “Agreement”), is made by and between Image Sensing Systems, Inc., and its subsidiaries and divisions (collectively, “ISS”), and Kris B. Tufto (“Tufto”) as of the 23rd day of April, 2014 (the “Effective Date”).
COMMITMENT LETTER May 7, 2014Commitment Letter • May 12th, 2014 • Image Sensing Systems Inc • Measuring & controlling devices, nec
Alliance Bank (the “Lender”) hereby agrees to make a loan (the “Loan”) to Image Sensing Systems, Inc., a Minnesota corporation (the “Borrower”). The Loan shall be a revolving line of credit loan in the original principal amount of $5,000,000.00, and shall be utilized to provide the Borrower with working capital.
SECURITY AGREEMENTSecurity Agreement • May 12th, 2014 • Image Sensing Systems Inc • Measuring & controlling devices, nec
Image Sensing Systems, Inc., a Minnesota corporation (hereinafter called the “Debtor”), whose address is 1600 West University Avenue, Suite 500, St. Paul, Minnesota, 55104, and Alliance Bank, a Minnesota banking corporation, whose address is 55 East Fifth Street, Suite 115, St. Paul, Minnesota, 55101 (hereinafter called the “Secured Party”), agree as follows: The Debtor grants to the Secured Party a first position security interest in the property described below together with any additions and accessions thereto, replacements thereof, and all insurance, condemnation and other products or proceeds thereof, to secure prompt payment when due of all amounts owed by the Debtor to the Secured Party whether now existing or hereafter existing, including all amounts owed pursuant to that certain $5,000,000.00 Promissory Note dated effective May 12, 2014, from the Debtor to the Secured Party (the “Note”) and any and all extensions, modifications, renewals, amendments, and replacements thereof,
