Enclosure 1 to the guarantee dated Oct. 10, 2007 in the amount of EUR 9 Mio by IPG Laser GmbH, Burbach
Exhibit 10.4
Enclosure 1 to the guarantee dated Oct. 10, 2007 in the amount of EUR 9 Mio by IPG Laser GmbH, Burbach
The following branches and subsidiaries of Deutsche Bank AG have entered into a business relationship with subsidiaries of IPG Laser GmbH.
In this context subsidiaries of IPG Laser GmbH may draw funds up to a total amount of EUR 9,000,000.00 within the EUR 20,000,000.00 umbrella credit facility dated June 18th, 2012 based on the borrower’s guarantee in the amount of EUR 9,000,000.00 as listed below.
Summary of credit agreements for IPG Laser GmbH - group in Germany and abroad:
| Debitor | DB branch / | local curreny | amount (in k currency) | cash/discount | guarantee | total | ||||||||||||
| if not | exchange value in k Euro | |||||||||||||||||
| IPG Laser GmbH, Burbach | Siegen | 10,000 | 3,000 | 13,000 | ||||||||||||||
| Credit lines under guarantee of IPG Laser GmbH | ||||||||||||||||||
| IPG Photonics (Italy) S.r.l., Via Kennedy 21, 20023 Cerro Maggiore (Milano), Italy | Deutsche Bank Spa, Milano, Italy | 4,000 | 4,000 | |||||||||||||||
| IRE-Polus NTO, 141190, Fryazino, pl. Vvedenskogo, Russia | Deutsche Bank Ltd., Moscow, Russia | 1,000 | 2,000 | 3,000 | ||||||||||||||
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| Total Credit lines based on the borrower’s guarantee | 15,000 | 5,000 | 20,000 | |||||||||||||||
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| Burbach, 18 June 2012 | ||
| Burbach, 18 June 2012 | Seigen, 18 June 2012 | |
| place, date | place, date | |
| IPG Laser GmbH | Deutsche Bank AG | |
| Filiale Deutschlandgeschäft | ||
| /s/ Eugene Scherbakov | /s/ Joachim Gartz /s/ Hans-Werner Bieler | |
| legally binding signature(s) | ||
Being guarantor we agree with above mentioned changes of the facilites within the Credit Facility Agreement dated June 18th, 2012 between IPG Laser GmbH and the Bank regarding the Umbrella Facility in the amount of EUR 20 million. Further we agree with all future changes within the Umbrella Facility and waive seperate information thereof, provided that the allocation to subsidiaries of IPG Laser GmbH does not acceed an aggregate amount of Euro 9 million (cash/discount and for guarantees).
Oxford, Massachusetts, 26 June 2012
place, date
| IPG Photonics Corporation |
| /s/ Timoth P.V. Mammen |
| legally binding signature(s) |
