Saturn Electronics & Engineering Inc – IPO: ‘S-1’ on 3/29/00 – EX-10.15

On:  Wednesday, 3/29/00   ·   Accession #:  950124-0-1698   ·   File #:  333-33472

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Initial Public Offering (IPO):  Registration Statement (General Form)   —   Form S-1
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: S-1         Registration Statement (General Form)                117    564K 
10: EX-10.10    Amendment #1 Stock Option Plan                         4     23K 
11: EX-10.11    Amendment #2 Stock Option Plan                         1      9K 
12: EX-10.12    Amendment #3 Stock Option Plan                         2     13K 
13: EX-10.13    Loan Agreement                                        22     71K 
14: EX-10.14    Amendment #1 Loan Agreement                            2     13K 
15: EX-10.15    Amendment #2 Loan Agreement                            2     14K 
16: EX-10.16    Credit Agreement                                     141    486K 
17: EX-10.17    Amendment #1 Credit Agreement                         21     35K 
18: EX-10.18    Amendment #2 Credit Agreement                          4     17K 
 2: EX-10.2     Stock Purchase Agreement                              45    213K 
19: EX-10.20    Saturn Membership Regulations                         38    131K 
20: EX-10.21    Amendment #1 Membership Regulations                    1     10K 
21: EX-10.22    Amendment #2 Membership Regulations                    4     21K 
22: EX-10.23    Amendment #3 Membership Regulations                    1     10K 
23: EX-10.24    Amendment #4 Membership Regulations                    1     11K 
24: EX-10.25    Sublease                                               8     35K 
25: EX-10.26    Amendment to Sublease                                  1     12K 
 3: EX-10.3     Methuen Division                                      21    100K 
 4: EX-10.4     Stock Purchase Agreement                               6     31K 
 5: EX-10.5     Agreement and Plan of Merger                          44    222K 
 6: EX-10.6     Split Dollar Agreement                                12     40K 
 7: EX-10.7     Independent Contractor                                 6     26K 
 8: EX-10.8     Amendment to Independent Contractor                    1     11K 
 9: EX-10.9     Saturn Stock Option Plan                              12     46K 
26: EX-23.1     Consent Pricewaterhousecoopers LLP                     1      9K 
27: EX-23.2     Consent Ernst & Young                                  1      9K 
28: EX-27.1     Financial Data Schedule                                1     11K 

EX-10.15   —   Amendment #2 Loan Agreement
Exhibit Table of Contents

EX-10.15
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                                                                   EXHIBIT 10.15

 AMENDMENT NO. 2 TO LOAN AGREEMENT

     THIS AMENDMENT, dated as of January 11, 2000, by and between Saturn
Electronics Texas, L.L.C., a Texas limited liability company, of Auburn Hills,  
Michigan ("Company"), and Comerica Bank, a Michigan banking corporation, of     
Detroit, Michigan ("Bank").                                                     

W I T N E S S E T H:

         WHEREAS, said parties desire to amend that certain Loan Agreement dated
April 16, 1998 as amended by Amendment No. 1 dated as of June 10, 1999 (the     
"Agreement"), entered into by and between Company and Bank to increase the      
credit provided to Company under the Agreement.                                 

NOW, THEREFORE, it is agreed as follows:                      

        1. Section 1.1 of the Agreement is amended by deleting the figure Five
Million Dollars ($5,000,000) where it appears therein and replacing it with the 
figure Fifteen Million Dollars ($15,000,000).                                   

     2. The first sentence of Section 1.2 of the Agreement is amended by
deleting the date June 1, 2000 where it appears therein and replacing it with   
the date January 1, 2001.                                                       

        3. Section 1.4 of the Agreement is amended by deleting the figure Five
Million Dollars ($5,000,000) where it appears therein and replacing it with the 
figure Fifteen Million Dollars ($15,000,000).                                   

This Amendment shall be effective as of the date hereof and upon delivery by    
Company to Bank of a replacement Revolving Credit Note in the principal amount  
of $15,000,000. Except as modified hereby, all of the terms and conditions of   
the Agreement and the Note shall remain in full force and effect. Company hereby
represents and warrants that, after giving effect to the amendments contained   
herein, (a) execution, delivery and performance of this Amendment and any other 
documents and instruments required under this Amendment or the Agreement are    
within Company's corporate powers, have been duly authorized, are not in        
contravention of law or the terms of the Company's Articles of Organization or  
Membership Regulations, and do not require the consent or approval of any       
governmental body, agency, or authority; and this Amendment and any other       
documents and instruments required under this Amendment or the Agreement, will  
be valid and binding in accordance with their terms; (b) the representations and
warranties of the Company set forth in Sections 3.1 through 3.15 of the         
Agreement are true and correct on and as of the date hereof with the same force 
and effect as if made on and as of the date hereof; and (c) no event of default,
or condition or event which, with the giving of notice or the running of time,  
or both, would constitute an event of default under the Agreement, has occurred 
and is continuing as of the date hereof.                                        

EX-10.15
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   This Amendment may be executed in counterparts, of which this is one, all
of which shall constitute one and the same instrument.                          

WITNESS the due execution hereof as of the day and year first above   
written.                                                                        

BANK:                                         COMPANY:                          

COMERICA BANK                                 SATURN ELECTRONICS TEXAS, L.L.C.  

By:            [SIG]                          By:  /s/ Donald J. Cowie          
    ------------------------------                ------------------------------
                                             Donald J. Cowie

Its: Assistant Vice-President                 Its:     Treasurer                
------------------------------                                          

Dates Referenced Herein

				Referenced-On Page
This ‘S-1’ Filing		Date		First		Last			Other Filings
		1/1/01		1					None on these Dates
		6/1/00		1
Filed on:		3/29/00
		1/11/00		1
		6/10/99		1
		4/16/98		1
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