Exhibit 10.1
LOAN AGREEMENT
CITIZENS BANK OF MASSACHUSETTS
The Lender
LOJACK CORPORATION
The Lead Borrower
For:
LOJACK CORPORATION
LOJACK INTERNATIONAL CORPORATION
LOJACK OF NEW JERSEY CORPORATION
RECOVERY SYSTEMS, INC.
LOJACK HOLDINGS CORPORATION
LOJACK OF PENNSYLVANIA, INC.
LOJACK RECOVERY SYSTEMS BUSINESS TRUST
LOJACK ARIZONA, LLC
VEHICLE RECOVERY SYSTEMS COMPANY
The Borrowers
June 21, 2002
TABLE OF CONTENTS
Article 1: - Definitions: ................................................... 7
Article 2: - The Revolving Credit: ......................................... 17
2-1. Establishment of Revolving Credit ........................ 17
2-2. Commitment to Make Revolving Credit Loans and
Support Letters of Credit. .............................. 17
2-3. Revolving Credit Loan Requests ............................ 18
2-4. Suspension of Revolving Credit ............................ 19
2-5. Making of Revolving Credit Loans .......................... 20
2-6. The Loan Account .......................................... 20
2-7. The Revolving Credit Note ................................. 21
2-8. Payment of The Loan Account ............................... 21
2-9. Repayments, Continuations and Conversions
regarding LIBOR Rate Loans .............................. 21
2-10. Prepayment of LIBOR Rate Loans ............................ 21
2-11. Interest on Revolving Credit Loans ....................... 22
2-12. Unused Line Fee ........................................... 23
2-13. Concerning Fees ........................................... 23
2-14. Procedures For Issuance of L/C's .......................... 23
2-15. Fees For L/C's ............................................ 24
2-16. Concerning L/C's .......................................... 24