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<SEC-DOCUMENT>0001157523-10-001068.txt : 20100219
<SEC-HEADER>0001157523-10-001068.hdr.sgml : 20100219
<ACCEPTANCE-DATETIME>20100219155718
ACCESSION NUMBER:		0001157523-10-001068
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20100217
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Termination of a Material Definitive Agreement
ITEM INFORMATION:		Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20100219
DATE AS OF CHANGE:		20100219

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ULTRALIFE CORP
		CENTRAL INDEX KEY:			0000875657
		STANDARD INDUSTRIAL CLASSIFICATION:	MISCELLANEOUS ELECTRICAL MACHINERY, EQUIPMENT & SUPPLIES [3690]
		IRS NUMBER:				161387013
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-20852
		FILM NUMBER:		10619640

	BUSINESS ADDRESS:	
		STREET 1:		2000 TECHNOLOGY PARKWAY
		CITY:			NEWARK
		STATE:			NY
		ZIP:			14513
		BUSINESS PHONE:		3153327100

	MAIL ADDRESS:	
		STREET 1:		2000 TECHNOLOGY PARKWAY
		CITY:			NEWARK
		STATE:			NY
		ZIP:			14513

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ULTRALIFE BATTERIES INC
		DATE OF NAME CHANGE:	19940224
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a6184232.htm
<DESCRIPTION>ULTRALIFE CORP. 8-K
<TEXT>
<html>
  <head>
    <title></title>
<!--Copyright 2010 Business Wire, a Berkshire Hathaway company.-->
<!--All rights reserved www.businesswire.com-->
  </head>
  <body style="font-size: 10pt; font-family: Times New Roman">
    <hr style="text-align: center; height: 3.0 pt; width: 100%; color: #000000">
    <hr style="text-align: center; height: 1.0 pt; width: 100%; color: #000000">


    <p style="text-align: center">
      <br>
      <font style="font-family: Times New Roman; font-size: 12pt"><b>United
      States</b></font><b><font style="font-family: Times New Roman; font-size: 12pt"><br style="font-size: 12pt; font-family: Times New Roman"></font><font style="font-family: Times New Roman; font-size: 12pt">Securities
      and Exchange Commission</font></b><br><font style="font-family: Times New Roman; font-size: 12pt"><b>Washington,
      D.C. 20549</b></font><br><br><br><font style="font-family: Times New Roman; font-size: 18pt"><b>FORM
      8-K</b></font><br><br><br><font style="font-family: Times New Roman; font-size: 12pt"><b>Current
      Report Pursuant to</b></font><br><font style="font-family: Times New Roman; font-size: 12pt"><b>Section
      13 or 15(d) of the Securities Exchange Act of 1934</b></font><br><br><br><font style="font-family: Times New Roman; font-size: 12pt"><b>February
      17, 2010</b></font><br>(<font style="font-size: 10pt">Date of Report)</font><br><br><br><font style="font-family: Times New Roman; font-size: 18pt"><b>ULTRALIFE
      CORPORATION</b></font><br><font style="font-family: Times New Roman; font-size: 10pt">(Exact
      name of registrant as specified in its charter)</font><br><br><br>
    </p>
    <div style="text-align:left">
    <table style="font-family: Times New Roman; margin-bottom: 10.0px; font-size: 10pt; width: 100%" cellspacing="0">
      <tr>
        <td style="padding-left: 0.0px; text-align: center; width: 33%" valign="top">
          <p style="margin-bottom: 0px; font-family: Times New Roman; margin-top: 0px; font-size: 10pt">
            <b>Delaware</b>
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: center; padding-right: 0.0px; white-space: nowrap; width: 34%" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>000-20852</b>
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: center; padding-right: 0.0px; white-space: nowrap; width: 33%" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>16-1387013</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center; width: 33%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (State of incorporation)
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: center; width: 34%" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (Commission File Number)
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: center; width: 33%" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (IRS Employer Identification No.)
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>
      <br>

    </p>
    <div style="text-align:left">
    <table style="font-family: Times New Roman; margin-bottom: 10.0px; font-size: 10pt; width: 100%" cellspacing="0">
      <tr>
        <td style="padding-left: 0.0px; text-align: center; width: 70%" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>2000 Technology Parkway, Newark, New York</b>
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: center; padding-right: 0.0px; white-space: nowrap; width: 30%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>14513</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center; width: 70%" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-size: 10pt; font-family: Times New Roman">(Address
            of principal executive offices)</font>
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: center; width: 30%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (Zip Code)
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">
      <br>
      <font style="font-size: 10pt; font-family: Times New Roman"><b>(315)
      332-7100</b></font><br>(Registrant&#8217;s telephone number, including area
      code)<br><br>
    </p>
    <hr style="height: 1.0 pt; text-align: center; color: #000000; width: 100%">


    <p style="text-align: center">
      <br>

    </p>
    <p style="text-align: left">
      <font style="font-size: 10pt; font-family: Times New Roman">Check the
      appropriate box below if the Form 8-K filing is intended to
      simultaneously satisfy the filing obligation of the registrant under any
      of the following provisions </font>(see General Instruction A.2. below):
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))</font>
    </p>
    <hr style="height: 1.0 pt; text-align: center; color: #000000; width: 100%">
    <hr style="height: 3.0 pt; text-align: center; color: #000000; width: 100%">


    <p>

    </p>
    <div style="margin-bottom: 10pt; margin-right: 0pt; margin-left: 0pt; text-indent: 0pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p style="margin-left: 90.0px">

    </p>
    <p>
      <b>Item 1.01 &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Entry into a Material Definitive Agreement</b>
    </p>
    <p>
      On February 17, 2010, Ultralife Corporation (the &#8220;Company&#8221;), together
      with the Company&#8217;s U.S. subsidiaries (collectively, the &#8220;Borrowers&#8221;),
      entered into a senior secured asset based revolving credit facility of
      up to $35.0 million with RBS Business Capital, a division of RBS Asset
      Finance, Inc. (&#8220;RBS&#8221;) (the &#8220;Credit Facility&#8221;).&#160;&#160;The proceeds from the
      Credit Facility can be used for general working capital purposes,
      general corporate purposes, letter of credit foreign exchange support
      and to repay existing indebtedness under the Previous Credit
      Facility.&#160;&#160;The Credit Facility has a maturity date of February 17, 2013
      (the &#8220;Maturity Date&#8221;).&#160;&#160;The Credit Facility is secured by substantially
      all of the Company&#8217;s assets.&#160;&#160;The Company paid RBS a facility fee of
      $262,500.&#160;&#160;
    </p>
    <p>
      On February 18, 2010, the Company drew down $9.87 million from the
      Credit Facility to repay all outstanding amounts due under the Amended
      and Restated Credit Agreement (the &#8220;Previous Credit Facility&#8221;) with
      JPMorgan Chase Bank, N.A. and Manufacturers Traders Trust Company, with
      JPMorgan Chase Bank, N.A. acting as the administrative agent.&#160;&#160;The
      Company&#8217;s available borrowing under the Credit Facility fluctuates from
      time to time based upon amounts of eligible accounts receivable and
      eligible inventory.
    </p>
    <p>
      Available borrowings under the Credit Facility equals (1) the lesser of
      $35.0 million or (2) 85% of eligible accounts receivable plus the lesser
      of (a) up to 70% of the book value of the Company&#8217;s eligible inventory
      or (b) 85% of the appraised net orderly liquidation value of the
      Company&#8217;s eligible inventory.&#160;&#160;The borrowing base under the Credit
      Facility is further reduced by (1) the face amount of any letters of
      credit outstanding, (2) any liabilities of the Company under hedging
      contracts with RBS and (3) the value of any reserves as deemed
      appropriate by RBS.&#160;&#160;The Company is required to have at least $3.0
      million available under the Credit Facility at all times.&#160;&#160;Subject to
      obtaining certain third party consents (which were not required to close
      the Credit Facility), the Company&#8217;s cash and available borrowing after
      repayment of the Previous Credit Facility would be approximately $13.4
      million.
    </p>
    <p>
      Interest will accrue on outstanding indebtedness under the Credit
      Facility at one of two LIBOR rates plus 4.50%.&#160;&#160;Upon delivery of our
      audited financial statements for the fiscal year ended December 31, 2010
      to RBS, and assuming no events of default exist at such time, the rate
      of interest under the Credit Facility can fluctuate based on the
      available borrowings remaining under the Credit Facility as set forth in
      the following table:
    </p>
    <p>

    </p>
    <div style="text-align:center">
    <table style="font-family: Times New Roman; margin-bottom: 10.0px; margin-left:auto;margin-right:auto; font-size: 10pt; width: 75%" cellspacing="0">
      <tr>
        <td style="padding-left: 0.0px; text-align: left; width: 70%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u>Excess Availability</u>
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: center; width: 30%" valign="middle">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u>LIBOR Rate Plus</u>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 70%">

        </td>
        <td style="width: 30%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; width: 70%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Greater than $10,000,000
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: center; padding-right: 0.0px; white-space: nowrap; width: 30%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            4.00%
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 70%">

        </td>
        <td style="width: 30%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; width: 70%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Greater than $7,500,000 but less
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            than or equal to $10,000,000
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: center; padding-right: 0.0px; white-space: nowrap; width: 30%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            4.25%
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 70%">

        </td>
        <td style="width: 30%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; width: 70%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Greater than $5,000,000 but less
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            than or equal to $7,500,000
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: center; padding-right: 0.0px; white-space: nowrap; width: 30%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            4.50%
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 70%">

        </td>
        <td style="width: 30%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; width: 70%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Greater than $3,000,000 but less
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            than or equal to $5,000,000
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: center; padding-right: 0.0px; white-space: nowrap; width: 30%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            4.75%
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <p>
      In addition to paying interest on the outstanding principal under the
      Credit Facility, the Company is required to pay an unused line fee of
      0.50% on the unused portion of the $35.0 million Credit Facility.&#160;&#160;The
      Company must also pay customary letter of credit fees equal to the LIBOR
      rate and the applicable margin and any other customary fees or expenses
      of the issuing bank.
    </p>
    <div style="margin-bottom: 10pt; margin-right: 0pt; margin-left: 0pt; text-indent: 0pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      Interest that accrues under the Credit Facility is to be paid monthly
      with all outstanding principal, interest and applicable fees due on the
      Maturity Date.
    </p>
    <p>
      The Company is required to maintain a fixed coverage ratio of 1.20 to
      1.00 or greater at all times after March 28, 2010.&#160;&#160;All borrowings under
      the Credit Facility are subject to the satisfaction of customary
      conditions, including the absence of an event of default and accuracy of
      the Borrowers&#8217; representations and warranties.&#160;&#160;The Credit Facility also
      includes customary representations and warranties, affirmative covenants
      and events of default.&#160;&#160;If an event default occurs, RBS would be
      entitled to take various actions, including accelerating the amount due
      under the Credit Facility, and all actions permitted to be taken by a
      secured creditor.
    </p>
    <p>
      The Company anticipates that it will file a copy of the Credit Facility
      with its Annual Report on Form 10-K for the fiscal year ended December
      31, 2009.
    </p>
    <p style="white-space: nowrap">

    </p>
    <p style="white-space: nowrap">
      <b>Item 1.02&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Termination of a Material Definitive Agreement</b>
    </p>
    <p>
      The information provided under Item 1.01 of this Current Report on Form
      8-K regarding the repayment of the Previous Credit Facility, is
      incorporated by reference into this Item 1.02.
    </p>
    <p>

    </p>
    <p>
      <b>Item 2.03 &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Creation of a Direct Financial Obligation or an
      Obligation under an Off-Balance Sheet Arrangement of a Registrant</b>
    </p>
    <p>
      The information provided under Item 1.01 of this Current Report on Form
      8-K regarding the Credit Facility, is incorporated by reference into
      this Item 2.03.
    </p>
    <p style="white-space: nowrap">

    </p>
    <p style="white-space: nowrap">
      <b>Item 9.01&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Financial Statements and Exhibits</b>
    </p>
    <p style="white-space: nowrap; margin-left: 30.0px">
      (d)&#160;&#160;Exhibits.
    </p>
    <div style="text-align:left">
    <table style="font-family: Times New Roman; margin-bottom: 10.0px; font-size: 10pt; width: 100%" cellspacing="0">
      <tr>
        <td style="width: 8%">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt; padding-left: 0.0px; text-align: center; width: 14%" valign="top">
          Exhibit No.
        </td>
        <td style="border-bottom: solid black 1.0pt; padding-left: 0.0px; text-align: center; width: 78%" valign="top">
          Description
        </td>
      </tr>
      <tr>
        <td style="width: 8%">

        </td>
        <td style="padding-left: 0.0px; text-align: center; padding-right: 0.0px; white-space: nowrap; width: 14%" valign="top">
          99.1
        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 78%" valign="top">
          Press Release, dated February 18, 2010
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-bottom: 10pt; margin-right: 0pt; margin-left: 0pt; text-indent: 0pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p style="text-align: center">
      <font style="font-size: 10pt; font-family: Times New Roman"><b>SIGNATURES</b></font>
    </p>
    <p style="text-indent: 30.0px">
      <font style="font-size: 10pt; font-family: Times New Roman">Pursuant to
      the requirements of the Securities Exchange Act of 1934, the Registrant
      has duly caused this report to be signed on its behalf by the
      undersigned hereunto duly authorized.</font>
    </p>
    <p style="text-indent: 30.0px">

    </p>
    <div style="text-align:left">
    <table style="font-family: Times New Roman; margin-bottom: 10.0px; font-size: 10pt; width: 100%" cellspacing="0">
      <tr>
        <td style="padding-left: 0.0px; text-align: left; width: 5%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Date:
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 45%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            February 19, 2010
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 50%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>ULTRALIFE CORPORATION</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 50%" valign="top">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left; width: 5%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left; width: 45%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td style="border-bottom: solid black 1.0pt; padding-left: 0.0px; text-align: left; width: 50%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            /s/ Peter F. Comerford
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 50%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Peter F. Comerford
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 50%" valign="top">
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            Vice President of Administration &amp;
          </p>
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        </td>
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            General Counsel
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<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a6184232ex99_1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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    <p style="text-align: right">
      <b>Exhibit 99.1</b>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 12pt"><b>Ultralife
      Corporation Closes $35 Million Revolving Credit Facility with</b></font><b><font style="font-family: Times New Roman; font-size: 12pt">
      </font><font style="font-family: Times New Roman; font-size: 12pt">RBS
      Business Capital</font></b>
    </p>
    <p>
      NEWARK, N.Y.--(BUSINESS WIRE)--February 18, 2010--Ultralife Corporation
      (NASDAQ: ULBI) has closed on a three-year $35 million senior secured
      asset-based revolving credit facility, effective February 17, 2010, with
      RBS Business Capital (&#8220;RBS&#8221;), a division of Citizens Financial Group.
      This revolving credit facility replaces the company&#8217;s $35 million senior
      secured revolving credit facility with JPMorgan Chase Bank, N.A. and
      Manufacturers and Traders Trust Company.
    </p>
    <p>
      The opening balance under the facility is $10 million. Borrowings under
      the facility will bear interest based on LIBOR plus 450 basis points
      through the end of 2010 after which the basis point spread may vary
      depending on the company meeting certain financial criteria.
    </p>
    <p>
      &#8220;This asset-based facility meets our objective of securing credit
      arrangements that match our operating needs and meet our global
      financing requirements. We appreciate the support provided to us by RBS
      and look forward to maintaining a constructive lender relationship with
      them,&#8221; said John D. Kavazanjian, Ultralife&#8217;s president and chief
      executive officer.
    </p>
    <p>
      <b>About Ultralife Corporation</b>
    </p>
    <p>
      Ultralife Corporation, which began as a battery company, serves its
      markets with products and services ranging from portable and standby
      power solutions to communications and electronics systems. Through its
      engineering and collaborative approach to problem solving, Ultralife
      serves government, defense and commercial customers across the globe.
    </p>
    <p>
      Ultralife&#8217;s family of brands includes: Ultralife Batteries, Stationary
      Power Services, RPS Power Systems, ABLE, McDowell Research, RedBlack
      Communications and AMTI. Ultralife&#8217;s operations are in North America,
      Europe and Asia. For more information, visit <u>www.ultralifecorp.com</u>.
    </p>
    <p>
      This press release may contain forward-looking statements based on
      current expectations that involve a number of risks and uncertainties.
      The potential risks and uncertainties that could cause actual results to
      differ materially include: worsening global economic conditions,
      increased competitive environment and pricing pressures, and the
      possibility of intangible asset impairment charges that may be taken
      should management decide to retire one or more of the brands of acquired
      companies. The Company cautions investors not to place undue reliance on
      forward-looking statements, which reflect the Company&#8217;s analysis only as
      of today&#8217;s date. The Company undertakes no obligation to publicly update
      forward-looking statements to reflect subsequent events or
      circumstances. Further information on these factors and other factors
      that could affect Ultralife's financial results is included in
      Ultralife's Securities and Exchange Commission (SEC) filings, including
      the latest Annual Report on Form 10-K.
    </p>
    <p style="text-align: center">

    </p>
    <p>
      CONTACT:<br>Company:<br><u>Ultralife Corporation</u><br><b>Julius Cirin, </b>315-332-7100<br><u>jcirin@ultralifecorp.com</u><br>or<br>Investor
      Relations:<br><u>Lippert/Heilshorn &amp; Associates, Inc.</u><br><b>Jody
      Burfening, </b>212-838-3777<br><u>jburfening@lhai.com</u>
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