Item 1.02 Termination of a Material Definitive Agreement.
On November 30, 2021, LeMaitre Vascular, Inc. (the "Company") terminated the
Credit Agreement (the "Credit Agreement"), dated as of June 22, 2020, among the
Company, KeyBank National Association, as administrative agent and lender, and
Truist Bank, as a lender.
The Credit Agreement provided for a senior secured term loan facility in an
aggregate principal amount of $40,000,000, which was repaid in full in Q3 2021.
In addition, the Credit Agreement provided for a senior secured revolving credit
facility in an aggregate principal amount of $25,000,000. As of the date of
termination, the Company did not have any borrowings outstanding under the
revolving credit facility.
The obligations under the Credit Agreement were secured by a lien on
substantially all of the assets of the Company pursuant to the Pledge and
Security Agreement (the "Security Agreement"), dated as of June 22, 2020,
between the Company and KeyBank National Association, as administrative agent
for the benefit of the secured creditors. The Security Agreement terminated at
the same time as the Credit Agreement.
The Company did not incur any early termination penalties in connection with the
termination of the Credit Agreement or the Security Agreement. However, the
Company did incur a one-time, non-cash charge of approximately $0.5 million
associated with the unamortized deferred financing costs of the facilities,
which will impact the Company's Q4 2021 and full year 2021 net income and
earnings per share. Those financing costs were paid in connection with the
establishment of the facilities in June 2020. The $0.5 million non-cash charge
was not reflected in the Company's Q4 2021 or full year 2021 guidance released
on October 28, 2021.
Due to the cancellation of these facilities, the Company will no longer incur
approximately $50,000 in associated quarterly cash and non-cash expenses,
beginning Q1 2022.
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LEMAITRE VASCULAR, INC. 
