Amendment No. 3 to Business Credit Agreement between CIBC and EMS Technologies Canada, Ltd.

Summary

This amendment updates the Business Credit Agreement between Canadian Imperial Bank of Commerce (CIBC) and EMS Technologies Canada, Ltd. The main change is an increase in the limit for foreign exchange contracts from $2,500,000 to $5,000,000, with the additional amount affecting the margin calculation for the operating line of credit. All other terms of the original agreement remain unchanged. The amendment is effective as of December 18, 2001.

EX-10.20 3 g81102exv10w20.txt EX-10.20 AMENDMENT NO. 3 , DATED 12/18/01 EXHIBIT 10.20 AMENDMENT NO. 3 TO THE BUSINESS CREDIT AGREEMENT DATED MAY 15, 2001 BETWEEN CANADIAN IMPERIAL BANK OF COMMERCE ("CIBC") AND THE CUSTOMER NOTED BELOW Customer: CIBC Branch/Centre: EMS Technologies Canada, Ltd. Knowledge-Based Business 2nd floor, 222 Queen Street Ottawa, Ontario K1P 5V9 AMENDMENTS. The Agreement is amended as follows: 1. CREDIT D - FOREIGN EXCHANGE CONTRACTS. The limit to this facility is increased to a maximum of $5,000,000 from $2,500,000. The $2,500,000 increase shall be deducted from the margin calculation for the operating line, Credit A. OTHER MATTERS. (1) The term "the Agreement" means the Business Credit Agreement referred to above, as it may have been revised up to the date of this Amendment. (2) Except as revised by this Amendment, the Agreement remains in full force. Dated as of: December 18, 2001 For CIBC: For the Customer: By: By: By: - --------------------- ------------------------- ------------------------ Name: Name: Name: David Edwards - --------------------- ------------------------- ------------------------ Title: Title: Title: Director, KBB - --------------------- ------------------------- ------------------------