EMPLOYMENT AGREEMENTEmployment Agreement • April 2nd, 2007 • Evans & Sutherland Computer Corp • Miscellaneous electrical machinery, equipment & supplies • Utah
THIS EMPLOYMENT AGREEMENT (the “Agreement”) is made and entered into as of the 26th day of August, 2002, by and between EVANS & SUTHERLAND COMPUTER CORPORATION, a Utah corporation (the “Company”) and David H. Bateman (the “Executive”).
CREDIT AGREEMENTCredit Agreement • April 2nd, 2007 • Evans & Sutherland Computer Corp • Miscellaneous electrical machinery, equipment & supplies • Utah
THIS CREDIT AGREEMENT (this “Agreement”) is entered into as of December 1, 2006 by and between EVANS & SUTHERLAND COMPUTER CORPORATION, a Utah corporation (“Borrower”), and WELLS FARGO BANK, NATIONAL ASSOCIATION (“Bank”).
All notices to be given to Mortgagee pursuant to 42 Pa. C.S.A. 8143 shall be given as set forth in Paragraph 25 of this Mortgage.) OPEN-END MORTGAGE AND SECURITY AGREEMENTOpen-End Mortgage and Security Agreement • April 2nd, 2007 • Evans & Sutherland Computer Corp • Miscellaneous electrical machinery, equipment & supplies • Pennsylvania
THIS OPEN-END MORTGAGE AND SECURITY AGREEMENT (this “Mortgage” made this 14th day of January, 2004, by and between Spitz, Inc., a Delaware corporation, with an address of P.O. Box 198, Route 1, Chadds Ford, Pennsylvania 19317 (the Mortgagor), and FIRST KEYSTONE BANK (Mortgagee), a federally chartered stock savings bank organized and existing under the laws of the United States of America, at Mortgagee’s office located at 22 West State Street, Media, Pennsylvania, 19063.
SECOND MODIFICATION AGREEMENTModification Agreement • April 2nd, 2007 • Evans & Sutherland Computer Corp • Miscellaneous electrical machinery, equipment & supplies
THIS SECOND MODIFICATION AGREEMENT (the “Agreement”) is made and entered into this 30 th day of March, 2007, by and between First Keystone Bank (the “Bank”), chartered under the Laws of the United States of America, having its principal office at 22 West State Street, Media, Pennsylvania, 19063, Spitz, Inc., a Delaware corporation (the “Borrower”), with an address of P.O. Box 198, Route 1, Chadds Ford, Pennsylvania, 19317, and Evans & Sutherland Computer Corporation, a Utah corporation (the “Guarantor”). The Bank, Borrower and Guarantor are sometimes herein referred to as a “Party” and collectively as the “Parties”.
LOAN AGREEMENTLoan Agreement • April 2nd, 2007 • Evans & Sutherland Computer Corp • Miscellaneous electrical machinery, equipment & supplies • Pennsylvania
THIS IS A LOAN AGREEMENT (the “Agreement”), dated as of the 14th day of January, 2004, between Transnational Industries, Inc., a Delaware corporation, and Spitz, Inc., a Delaware corporation (individually, collectively, jointly and severally referred to as the “Borrower”), with an address of P.O. Box 198, Route 1, Chadds Ford, Pennsylvania 19317, and FIRST KEYSTONE BANK (“Lender”), a federally chartered stock savings bank organized and existing under the laws of the United States of America, with a principal business office located at 22 West State Street, Media, Pennsylvania, 19063.
FIRST MODIFICATION AGREEMENTModification Agreement • April 2nd, 2007 • Evans & Sutherland Computer Corp • Miscellaneous electrical machinery, equipment & supplies
THIS FIRST MODIFICATION AGREEMENT (the “Agreement”) is made and entered into this 30 th day of March, 2007, by and between First Keystone Bank (the “Bank”), chartered under the Laws of the United States of America, having its principal office at 22 West State Street, Media, Pennsylvania, 19063, Spitz, Inc., a Delaware corporation (the “Borrower”), with an address of P.O. Box 198, Route 1, Chadds Ford, Pennsylvania, 19317, and Evans & Sutherland Computer Corporation, a Utah corporation (the “Guarantor”). The Bank, Borrower and Guarantor are sometimes herein referred to as a “Party” and collectively as the “Parties”.
GUARANTYGuaranty • April 2nd, 2007 • Evans & Sutherland Computer Corp • Miscellaneous electrical machinery, equipment & supplies • Pennsylvania
THIS GUARANTY is made this 30 th day of March, 2007, by EVANS & SUTHERLAND COMPUTER CORPORATION, a Utah corporation (hereinafter the “Guarantor”).
MORTGAGE NOTEMortgage Note • April 2nd, 2007 • Evans & Sutherland Computer Corp • Miscellaneous electrical machinery, equipment & supplies
FOR VALUE RECEIVED, and without defalcation or setoff, Transnational Industries, Inc., a Delaware corporation, and Spitz, Inc., a Delaware corporation (individually, collectively, jointly and severally referred to as the “Maker”), with an address of P.O. Box 198, Route 1, Chadds Ford, Pennsylvania 19317 promises to pay to the order of FIRST KEYSTONE BANK (“Payee”), a federally chartered stock savings bank organized and existing under the laws of the United States of America, at Payee’s office located at 22 West State Street, Media, Pennsylvania, 19063, the principal amount of Three Million Two Hundred Thousand ($3,200,000.00) Dollars, advanced pursuant to the terms, conditions, and provisions of a certain Loan Agreement dated even date herewith, by and between Maker and Payee (the “Loan Agreement”), together with interest on the outstanding principal balance of this Mortgage Note (the Note) from the date hereof at the rate of five and three quarter (5.750%) percent per annum, provided,
