EXHIBIT 10
EXECUTION COPY
AMENDMENT NO. 1 TO CREDIT AGREEMENT
     This Amendment No. 1 to Credit Agreement (this “Amendment”) dated as of
March 4, 2011, is among Willbros United States Holdings, Inc., a Delaware
corporation (the “Borrower”), Willbros Group, Inc., a Delaware corporation (the
“Parent”), certain subsidiaries of the Parent party hereto (collectively with
the Parent, the “Guarantors”), and lenders party to the Credit Agreement (as
defined below) that are party hereto.
PRELIMINARY STATEMENTS
     A. The Borrower, the Guarantors, the lenders from time to time party
thereto (the “Lenders”), Crédit Agricole Corporate and Investment Bank, as
Administrative Agent, Collateral Agent, and Issuing Bank, UBS Securities LLC, as
Syndication Agent, and Natixis, The Bank of Nova Scotia and Capital One, N.A.,
as Co-Documentation Agents, are parties to the Credit Agreement dated as of
June 30, 2010 (the “Credit Agreement”).
     B. The parties wish to enter into this Amendment to amend certain terms and
provisions of the Credit Agreement.
     NOW, THEREFORE, the parties agree as follows:
ARTICLE I
DEFINITIONS
     Capitalized terms used in this Amendment are defined in the Credit
Agreement, as amended hereby, unless otherwise stated.
ARTICLE II
AMENDMENT
     2.01 Amendments to Section 1.01. Section 1.01 of the Credit Agreement is
hereby amended as follows:
     (a) The defined term “Asset Disposition” is hereby amended by inserting “,
6.04(g)(ii)” after the reference to “Section 6.04(c)”.
     (b) The defined term “Consolidated EBITDA” is hereby amended as follows:
               (1) by deleting and replacing clause (b)(v) with the following:
“(v) extraordinary or non-recurring expenses or losses (other than any such
expenses or losses arising from the accrual of the earnout liability related to
the InfrastruX Merger),”;
               (2) by deleting and replacing clause (c) with the following: “to
the extent included in determining such Consolidated Net Income,
(i) extraordinary or non-recurring gains and (ii) any non-cash gains arising
from the reversal of the accrual of the earnout liability related to the
InfrastruX Merger); minus (in case of a gain) or plus (in the case of a loss)”;

 

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               (3) by deleting and replacing clause (i) with the following:
“cash payments made during such period in respect of non-cash charges added back
in determining Consolidated EBITDA (including any such non-cash charges arising
from the accrual of the earnout liability related to the InfrastruX Merger) for
any previous period; plus”;
               (4) by inserting the word “such” immediately prior to the word
“Consolidated” in clause (n);
               (5) by deleting the period at the end of clause (n) and inserting
the following language in place thereof:
               ; plus
     (o) to the extent deducted in determining such Consolidated Net Income,
fees and expenses paid or payable in connection with any waiver or amendment of
any Debt; plus
     (p) to the extent deducted in determining such Consolidated Net Income, any
premiums or similar fees paid or payable in connection with a prepayment of any
Debt; plus
     (q) to the extent deducted in determining such Consolidated Net Income,
costs, expenses and charges relating to the independent compliance monitor
retained as a result of the SEC/DOJ Investigation incurred on or prior to
December 31, 2012, provided that the aggregate amount added pursuant to clauses
(q) and (r) of this definition in any period of four consecutive fiscal quarters
shall not exceed $5,000,000; plus
     (r) to the extent deducted in determining such Consolidated Net Income,
costs, expenses and charges relating to the TransCanada Pipeline Arbitration
incurred on or prior to December 31, 2012, provided that the aggregate amount
added pursuant to clauses (q) and (r) of this definition in any period of four
consecutive fiscal quarters shall not exceed $5,000,000.
     (c) The defined term “Excepted Liens” is hereby amended by deleting and
replacing clause (h) thereof with the following:
     (h) Liens arising by virtue of Uniform Commercial Code financing statement
filings (or similar filings under applicable law) regarding (i) operating leases
entered into by the Parent or any of its Subsidiaries in the ordinary course of
business or (ii) perfection of the acquiror’s or transferee’s interest in any
sale, transfer or other disposition of assets permitted under Section 6.04;
     (d) The defined term “Excess Cash Flow” is hereby amended as follows:

 

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     (1) by deleting and replacing clause (b)(vi) with the following:
     (vi) to the extent not reducing Consolidated EBITDA for such fiscal year
(but without duplication of any other deductions to Excess Cash Flow for such
fiscal year), the aggregate amount actually paid in cash by the Parent and its
Subsidiaries during such fiscal year in respect of litigation and similar
proceedings, earn-out obligations and other obligations and liabilities (other
than Debt), including any such amounts paid in respect of items referred to in
clauses (q) and (r) of the Consolidated EBITDA definition,
     and
     (2) by inserting the following language at the end of clause (b)(vi):
     plus (c) to the extent not otherwise included in Excess Cash Flow for such
fiscal year, net cash proceeds received by the Parent or its Subsidiaries during
such fiscal year from the TransCanada Pipeline Project, either through the
collection of receivables or pursuant to the settlement of the TransCanada
Pipeline Arbitration (it being understood and agreed that any amounts added back
pursuant to this clause (c) with respect to any fiscal year shall, to the extent
otherwise included in Excess Cash Flow for any subsequent fiscal year, be
deducted in determining Excess Cash Flow for such subsequent fiscal year).
     (e) The defined term “Tangible Net Worth” is hereby deleted in its entirety
and replaced with the following:
     “Tangible Net Worth” means, as of any date of determination, for the Parent
and its Subsidiaries on a consolidated basis, (a) the Stockholders’ Equity as of
such date minus (b) the goodwill of the Parent and its Subsidiaries as of such
date; provided that to the extent the Stockholders’ Equity shall have been
affected on and after December 31, 2010 by any amounts attributable to the net
Tax liabilities for repatriation by any CFC to the Parent, the Borrower or any
of its Domestic Subsidiaries of any cash earned from outside the United States
of America, such amounts shall be added back to the Stockholders’ Equity for
purposes of determining the Tangible Net Worth.
     (f) The following new defined terms shall be inserted, in appropriate
alphabetical order:
     “TransCanada Pipeline Arbitration” means matter no. 17247/VRO pending in
the International Court of Arbitration of the International Chamber of Commerce;
WILLBROS CONSTRUCTION (US), LLC, Claimant/Counterclaim Respondent, and
TRANSCANADA KEYSTONE PIPELINE, L.P., Respondent/Counterclaimant.

 

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“TransCanada Pipeline Project” means project undertaken and performed by
Willbros Construction (US), LLC, a Wholly-Owned Subsidiary of the Borrower,
under Agreement No. 5948 between TransCanada Keystone Pipeline, LP and Willbros
Construction (US), LLC for Construction of US Groups 3 & 4 Pump Stations for the
Keystone Oil Pipeline Project, dated as of September 18, 2008, and any change
orders or amendments thereto.
     2.02 Amendment to Section 2.01(a). Section 2.01(a) of the Credit Agreement
is hereby amended to insert the following second proviso at the end of the first
sentence:
provided further that if, at the time of any Revolving Borrowing, the Total
Leverage Ratio, determined as of the end of the then most recent fiscal quarter
of the Borrower for which a Compliance Certificate has been delivered pursuant
to Section 5.06(c) and giving pro forma effect to such Revolving Borrowing and
the application of the proceeds thereof, is more than 3.0 to 1, then the
aggregate principal amount of such Revolving Borrowing, when taken together with
the aggregate then outstanding principal amount of all other Revolving
Borrowings, shall not (unless consented to in writing by the Majority Revolving
Lenders) exceed $25,000,000 (excluding, for purposes of this computation, any
such Revolving Borrowing to the extent the proceeds thereof are only used to
make any payment in respect of the Convertible Senior Notes permitted under
Section 6.14).
     2.03 Amendment to Section 2.08(b)(ii). Section 2.08(b)(ii) of the Credit
Agreement is hereby amended by deleting and replacing the penultimate and final
sentences in their entirety with the following::
In the event of any prepayment under this Section 2.08(b)(ii), (x) if such
prepayment is made solely with Net Debt Proceeds of an incurrence of Debt or
with Equity Issuance Proceeds, such prepayment shall be accompanied by a
prepayment premium equal to (1) if such prepayment is made prior to December 31,
2011, 4.00% of the principal amount of the Term Loans then being prepaid and
(2) if such prepayment is made on and after December 31, 2011 but prior to
December 31, 2012, 1.00% of the principal amount of the Term Loans then being
prepaid and (y) in the case of any other prepayment under this
Section 2.08(b)(ii), (1) if such prepayment is made prior to the first
anniversary of the Closing Date, 2.00% of the principal amount of the Term Loans
then being prepaid and (2) if such prepayment is made on or after the first
anniversary of the Closing Date but prior to the second anniversary of the
Closing Date, 1.00% of the principal amount of the Term Loans then being
prepaid. No prepayment premium will apply to prepayments of the Term Loans under
this Section 2.08(b)(ii) occurring (i) in the case of any prepayment described
in clause (x) above, on or after December 31, 2012, and (ii) in

 

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the case of any prepayment described in clause (y) above, on or after the second
anniversary of the Closing Date.
     2.04 Amendment to Section 2.08(c)(vi). Section 2.08(c)(vi) of the Credit
Agreement is hereby amended by deleting and replacing the second and third
sentences in their entirety with the following:
Each such prepayment of the Term Loans pursuant to this Section 2.08(c)(vi)
shall be accompanied by a prepayment premium equal to (1) if such prepayment is
made prior to December 31, 2011, 4.00% of the principal amount of the Term Loans
then being prepaid and (2) if such prepayment is made on and after December 31,
2011 but prior to December 31, 2012, 1.00% of the principal amount of the Term
Loans then being prepaid. No prepayment premium will apply to prepayments of the
Term Loans under this Section 2.08(c)(vi) occurring on or after December 31,
2012.
     2.05 Amendment to Section 2.08(c)(vii). Section 2.08(c)(vii) of the Credit
Agreement is hereby amended by deleting and replacing the second and third
sentences in their entirety with the following:
Each such prepayment of the Term Loans pursuant to this Section 2.08(c)(vii)
shall be accompanied by a prepayment premium equal to (1) if such prepayment is
made prior to December 31, 2011, 4.00% of the principal amount of the Term Loans
then being prepaid and (2) if such prepayment is made on and after December 31,
2011 but prior to December 31, 2012, 1.00% of the principal amount of the Term
Loans then being prepaid. No prepayment premium will apply to prepayments of the
Term Loans under this Section 2.08(c)(vii) occurring on or after December 31,
2012.
     2.06 Amendment to Section 5.06(k). Section 5.06(k) of the Credit Agreement
is hereby deleted and replaced with the following:
(k) Monthly Cash and Backlog Reports. Within 20 Business Days after the end of
each month, (1) the amount of cash and cash equivalents of the Parent and its
Subsidiaries as of the end of such month and (2) an internal backlog report
consistent with the detail (but omitting any commentary) in the Parent’s
Quarterly Report on Form 10-Q and Annual Report on Form 10-K and otherwise in
form reasonably acceptable to the Administrative Agent; and
     2.07 Amendment to Section 6.02(h). Section 6.02(h)(iii) of the Credit
Agreement is hereby deleted (up to the parenthetical that follows) and replaced
with the following:
(iii) neither the final scheduled maturity nor the weighted average life to
maturity of such Debt is shorter than ninety one (91) days after the Term

 

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Maturity Date or the remaining weighted average life to maturity of the Term
Loans, respectively
     2.08 Amendment to Section 6.04. Section 6.04 of the Credit Agreement is
hereby amended as follows:
(a) by replacing subsection (g) with the following:
     (g) sales of (i) real property (including fixtures and other interests
relating thereto) in an aggregate amount not to exceed $40,000,000, provided
that the Net Proceeds from such Asset Disposition are applied to prepay the Term
Loans within five (5) Business Days after the receipt thereof (it being agreed
that such prepayment shall be treated as a mandatory prepayment for purposes of
Section 2.08(c)(viii)), and (ii) equipment in an aggregate amount not to exceed
$15,000,000, provided that, to the extent required pursuant to Section
2.08(c)(v), the Net Proceeds of such Asset Disposition are applied in accordance
with such Section; provided that if any Asset Disposition described in this
subsection (g) shall be for consideration of $10,000,000 or more, the Agent
shall have received a certificate of a Financial Officer of the Parent to the
effect that such Asset Disposition was approved by the Board of Directors of the
Parent;
(b) by deleting the word “and” at the end of subsection (h);
(c) by replacing the period at the end of subsection (i) with “; and”; and
(d) by inserting the following new subsection (j):
(j) sale of any of the assets identified on page 42 of Schedule 1: POTENTIAL
BUSINESS DIVESTITURES to the Lender Presentation dated as of February, 2011
among the Borrower and the Lenders, provided that if any Asset Disposition
described in this subsection (j) shall be for consideration of $10,000,000 or
more, the Agent shall have received a certificate of a Financial Officer of the
Parent to the effect that such Asset Disposition was approved by the Board of
Directors of the Parent.
     2.09 Amendment to Section 6.16. Section 6.16 of the Credit Agreement is
hereby amended by replacing the covenant levels as follows:

      Fiscal Quarter   Minimum Interest Coverage Ratio
Fiscal quarters ending December 31, 2010, March 31, 2011, June 30, 2011,
September 30, 2011 and December 31, 2011
  2.00 to 1.00
 
   
Fiscal quarter ending March 31, 2012
  2.25 to 1.00

 

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      Fiscal Quarter   Minimum Interest Coverage Ratio
Fiscal quarters ending June 30, 2012, September 30, 2012, December 31, 2012,
March 31, 2013, June 30, 2013 and September 30, 2013
  2.75 to 1.00
 
   
Fiscal quarters ending December 31, 2013 and thereafter
  3.00 to 1.00

     2.10 Amendment to Section 6.17. Section 6.17 of the Credit Agreement is
hereby amended by replacing the covenant levels as follows:

      Fiscal Quarter   Maximum Total Leverage Ratio
Fiscal quarters ending December 31, 2010, March 31, 2011, June 30, 2011 and
September 30, 2011
  5.00 to 1.00
 
   
Fiscal quarter ending December 31, 2011
  4.75 to 1.00
 
   
Fiscal quarter ending March 31, 2012
  3.75 to 1.00
 
   
Fiscal quarters ending June 30, 2012 and September 30, 2012
  3.50 to 1.00
 
   
Fiscal quarters ending December 31, 2012, March 31, 2013, June 30, 2013 and
September 30, 2013
  3.25 to 1.00
 
   
Fiscal quarter ending December 31, 2013 and thereafter
  3.00 to 1.00

     2.11 Amendment to Section 6.19. Section 6.19 of the Credit Agreement is
hereby amended by replacing the number “$292,000,000” with “$240,000,000”.
     2.12 Amendment to Exhibit B. Exhibit B to the Credit Agreement is hereby
deleted and replaced with the modified Exhibit B attached to Annex II to this
Agreement.
Each of the amendments set forth in this Article II shall be deemed to be
effective as of December 31, 2010 for all purposes of the Credit Agreement and
the related Loan Documents, in each case irrespective of the date of
effectiveness of this Amendment.

 

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ARTICLE III
CONDITIONS PRECEDENT
     This Amendment shall become effective (the date of effectiveness thereof,
the “Effective Date”) upon the satisfaction of the following conditions
precedent:
     (a) Documentation. The Administrative Agent shall have received this
Amendment duly executed by the Borrower, the Guarantors and the Majority
Lenders.
     (b) Payment of Fees and Expenses. The Borrower shall have paid in
immediately available funds to the Administrative Agent (i) for the ratable
benefit of each Lender (other than the Defaulting Lenders, if any) that shall
have executed and delivered to the Administrative Agent this Amendment by 5:00
p.m. (New York time) on February 25, 2011, an amendment fee equal to 100 basis
points on the amount of such Lender’s Revolving Commitment and aggregate
outstanding Term Loans as of such date and (ii) for its own account, all fees
and all reasonable documented out-of-pocket costs and expenses (including
reasonable documented legal fees of the Administrative Agent which have been
invoiced by February 25, 2011) that are payable pursuant to that certain
Engagement Letter, dated February 10, 2011, among the Borrower, the Parent and
the Administrative Agent.
ARTICLE IV
NO WAIVER
     Except for the amendments to the Credit Agreement and the other Loan
Documents set forth in this Amendment and the other agreements set forth herein,
nothing contained in this Amendment shall be construed as a waiver by the
Administrative Agent or any Lender of any covenant or provision of the Credit
Agreement, the other Loan Documents, this Amendment, or of any other contract or
instrument between the Borrower and the Administrative Agent or any Lender, and
the failure of the Administrative Agent or any Lender at any time or times
hereafter to require strict performance by the Borrower of any provision thereof
shall not waive, affect or diminish any right of the Administrative Agent or any
Lender to thereafter demand strict compliance therewith. The Administrative
Agent and each Lender hereby reserves all rights granted under the Credit
Agreement, the other Loan Documents, this Amendment and any other contract or
instrument between any of them.
ARTICLE V
ACKNOWLEDGMENTS, RATIFICATIONS AND REPRESENTATIONS AND WARRANTIES
     5.01 Acknowledgements and Ratifications. The Borrower acknowledges that on
and as of the Effective Date all Obligations in effect on such date are payable
without defense, offset, counterclaim or recoupment. The Borrower and each
Guarantor reaffirms its liabilities and obligations under the Credit Agreement,
as amended hereby, and acknowledges and agrees that such liabilities and
obligations are not impaired in any respect by this Amendment. The Borrower
hereby agrees that all liens and security interests securing payment of the
Obligations under the Credit Agreement are hereby collectively renewed, ratified
and brought

 

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forward as security for the payment and performance of the Obligations. The
terms and provisions set forth in this Amendment shall modify and supersede all
inconsistent terms and provisions set forth in the Credit Agreement and the
other Loan Documents, and, except as expressly modified and superseded by this
Amendment, the terms and provisions of the Credit Agreement and the other Loan
Documents are ratified and confirmed and shall continue in full force and
effect. The Borrower, the Administrative Agent and the Lenders agree that the
Credit Agreement, as amended hereby, and the other Loan Documents shall continue
to be legal, valid, binding and enforceable in accordance with their respective
terms.
     5.02 Representations and Warranties. The Borrower hereby represents and
warrants to the Administrative Agent and the Lenders that:
     (a) the execution, delivery and performance of this Amendment have been
authorized by all requisite corporate action on the part of the Borrower and
will not violate the applicable organization or governing documents of the
Borrower;
     (b) after giving effect to this Amendment, the representations and
warranties contained in Article IV of the Credit Agreement, as amended hereby,
and the other Loan Documents are true and correct in all material respects
(provided that to the extent any representation and warranty is qualified as to
“Material Adverse Effect” or otherwise as to “materiality”, such representation
and warranty is true and correct in all respects) on and as of the Effective
Date as though made on and as of each such date, except to the extent that any
such representation or warranty relates to an earlier date, in which case such
representation and warranty is true and correct in all material respects
(provided that to the extent any representation and warranty is qualified as to
“Material Adverse Effect” or otherwise as to “materiality”, such representation
and warranty is true and correct in all respects) as of such earlier date;
     (c) after giving effect to this Amendment, no Default or Event of Default
under the Credit Agreement, as amended hereby, has occurred and is continuing;
     (d) there are no governmental or other third party consents, licenses and
approvals required in connection with the execution, delivery, performance,
validity and enforceability of this Amendment; and
     (e) the Borrower has not amended its applicable organizational or governing
documents since the date of the Credit Agreement.
ARTICLE VI
MISCELLANEOUS PROVISIONS
     6.01 Survival of Representations and Warranties. All representations and
warranties made in the Credit Agreement or the other Loan Documents, including,
without limitation, any document furnished in connection with this Amendment,
shall survive the execution and delivery of this Amendment, and no investigation
by the Administrative Agent or any Lender shall affect the representations and
warranties or the right of the Administrative Agent and Lenders to rely upon
them.

 

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     6.02 Reference to Credit Agreement. Each of the Credit Agreement and the
other Loan Documents, and any and all other agreements, documents or instruments
now or hereafter executed and delivered pursuant to the terms hereof or pursuant
to the terms of the Credit Agreement, as amended hereby, are hereby amended so
that any reference in the Credit Agreement and such other Loan Documents to the
Credit Agreement shall mean a reference to the Credit Agreement as amended
hereby.
     6.03 Severability. Any provision of this Amendment held by a court of
competent jurisdiction to be invalid or unenforceable shall not impair or
invalidate the remainder of this Amendment and the effect thereof shall be
confined to the provision so held to be invalid or unenforceable.
     6.04 Successors and Assigns. This Amendment is binding upon and shall inure
to the benefit of the parties hereto and their respective successors and assigns
permitted pursuant to the Credit Agreement.
     6.05 Counterparts. This Amendment may be executed in one or more
counterparts, each of which when so executed shall be deemed to be an original,
but all of which when taken together shall constitute one and the same
instrument. This Amendment may be executed by facsimile signature and all such
signatures shall be effective as originals.
     6.06 Headings. The headings, captions, and arrangements used in this
Amendment are for convenience only and shall not affect the interpretation of
this Amendment.
     6.07 Applicable Law. THIS AMENDMENT SHALL BE DEEMED TO HAVE BEEN MADE AND
TO BE PERFORMABLE IN AND SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH
THE LAWS OF THE STATE OF NEW YORK.
[Remainder of page intentionally left blank. Signatures on following pages.]

 

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     IN WITNESS WHEREOF, each of the parties hereto has executed this Amendment
as of the date first above-written.

            BORROWER:

WILLBROS UNITED STATES HOLDINGS, INC.
      By:   /s/ Van A. Welch         Name:   Van A. Welch        Title:   Chief
Financial Officer   

Signature Page to Amendment No. 1 to Credit Agreement

 

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            GUARANTORS:

WILLBROS GROUP, INC.
WILLBROS GOVERNMENT SERVICES (U.S.), LLC
WILLBROS CONSTRUCTION (U.S.), LLC
WILLBROS CONSTRUCTION CALIFORNIA (U.S.), INC.
WILLBROS ENERGY SERVICES COMPANY
WILLBROS ENGINEERS (U.S.), LLC
WILLBROS ENGINEERING CALIFORNIA (U.S.), INC.
WILLBROS MIDSTREAM SERVICES (U.S.), LLC
WILLBROS PROJECT SERVICES (U.S.), LLC
WILLBROS REFINERY AND MAINTENANCE SERVICES (U.S.), LLC
WILLBROS DOWNSTREAM, LLC
CONSTRUCTION & TURNAROUND SERVICES OF CALIFORNIA, INC.
CONSTRUCTION & TURNAROUND SERVICES, L.L.C.
WILLBROS DOWNSTREAM OF OKLAHOMA, INC.
WINK ENGINEERING, LLC
      By:   /s/ Van A. Welch         Name:   Van A. Welch        Title:   Chief
Financial Officer   

Signature Page to Amendment No. 1 to Credit Agreement

 

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            GUARANTORS:

INFRASTRUX GROUP, LLC
B&H MAINTENANCE AND CONSTRUCTION, INC.
CHAPMAN CONSTRUCTION MANAGEMENT CO., INC.
CHAPMAN HOLDING CO., INC.
CHAPMAN CONSTRUCTION CO., L.P.
INFRASTRUX GROUP COMMON PAYMASTER, LLC
INFRASTRUX HAWKEYE HOLDINGS, LLC
BEMIS, LLC
HALPIN LINE CONSTRUCTION LLC
HAWKEYE, LLC
PREMIER UTILITY SERVICES, LLC
INTERCON CONSTRUCTION, INC.
INTERCON CONSTRUCTION TRUCKING, INC.
INTERPOWER LINE SERVICES CORPORATION
LINEAL INDUSTRIES, INC.
SKIBECK PIPELINE COMPANY, INC.
SKIBECK PLC, INC.
TRAFFORD CORPORATION
TEXAS ELECTRIC UTILITY CONSTRUCTION MANAGEMENT, L.L.C.
TEXAS ELECTRIC UTILITY CONSTRUCTION, LTD.
FLOWERS HOLDING CO., INC.
FLOWERS LIMITED PARTNER, INC.
FLOWERS MANAGEMENT CO., INC.
FLOWERS CONSTRUCTION CO., L.P.
UTILX CORPORATION
UTILX OVERSEAS HOLDINGS, INC.
      By:   /s/ Van A. Welch         Name:   Van A. Welch        Title:   Chief
Financial Officer   

Signature Page to Amendment No. 1 to Credit Agreement

 

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            CREDIT AGRICOLE CORPORATE AND
INVESTMENT BANK,
as Administrative Agent and a Lender
      By:   /s/ Tom Byargeon         Name:   Tom Byargeon        Title:  
Managing Director            By:   /s/ Sharada Manne         Name:   Sharada
Manne        Title:   Director   

Signature Page to Amendment No. 1 to Credit Agreement

 

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                LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT
DATED AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.         Name
of the Lender: Natixis          By:   /s/ Carlos Quinteros           Name:  
Carlos Quinteros          Title:   Managing Director            For any Lender
requiring a second signature block:
      By:   /s/ Louis P. Laville, III           Name:   Louis P. Laville, III   
      Title:   Managing Director   

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.
    Name of the Lender:  Landmark V CDO LTD
Landmark VI CDO LTD
Landmark VII CDO LTD
Landmark VIII CDO LTD
Landmark IX CDO LTD
Greyrock CDO LTD
Aladdin Flexible Investment Fund Series 2007-1
Aladdin Flexible Investment Fund Series 2008-1
      By:   Aladdin Capital Management LLC, as Manager        By:   /s/ Angela
Bozorgmir         Name:   Angela Bozorgmir        Title:   Managing Director   
 
For any Lender requiring a second signature block:
 
  By:           Name:           Title:      

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.

  Name of the Lender:  ABCLO 2007-1, Ltd.
      By:   AllianceBernstein L.P.         By:   /s/ Michael E. Sohr        
Name:   Michael E. Sohr        Title:   Senior Vice President     
For any Lender requiring a second signature block:
 
  By:           Name:           Title:      

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.

  Name of the Lender:  AllianceBernstein High Income Fund
      By:   AllianceBernstein L.P.         By:   /s/ Michael E. Sohr        
Name:   Michael E. Sohr        Title:   Senior Vice President     
For any Lender requiring a second signature block:
 
  By:           Name:           Title:      

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.

  Name of the Lender:  AllianceBernstein Institutional Investments — High
Yield Loan Portfolio (JPY)
      By:   AllianceBernstein L.P.         By:   /s/ Michael E. Sohr        
Name:   Michael E. Sohr        Title:   Senior Vice President     
For any Lender requiring a second signature block:
 
  By:           Name:           Title:      

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.

  Name of the Lender:  AllianceBernstein Institutional Investments — High
Yield Loan Portfolio
      By:   AllianceBernstein L.P.         By:   /s/ Michael E. Sohr        
Name:   Michael E. Sohr        Title:   Senior Vice President     
For any Lender requiring a second signature block:
 
  By:           Name:           Title:      

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.

  Name of the Lender:  AMMC CLO III, LIMITED
      By:  American Money Management Corp., as
Collateral Manager           By:   /s/ David P. Meyer         Name:   David P.
Meyer        Title:   Senior Vice President     
For any Lender requiring a second signature block:
 
  By:           Name:           Title:      

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.

  Name of the Lender:  AMMC CLO IV, LIMITED
      By:  American Money Management Corp., as
Collateral Manager           By:   /s/ David P. Meyer         Name:   David P.
Meyer        Title:   Senior Vice President     
For any Lender requiring a second signature block:
 
  By:           Name:           Title:      

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.

  Name of the Lender:  AMMC CLO VI, LIMITED
      By:  American Money Management Corp., as
Collateral Manager           By:   /s/ David P. Meyer         Name:   David P.
Meyer        Title:   Senior Vice President     
For any Lender requiring a second signature block:
 
  By:           Name:           Title:      

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.
    Name of the Lender:  AMMC VII, LIMITED
      By:  American Money Management Corp., as
Collateral Manager           By:   /s/ David P. Meyer         Name:   David P.
Meyer        Title:   Senior Vice President     
For any Lender requiring a second signature block:
 
  By:           Name:           Title:      

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.
    Name of the Lender:  AMMC CLO V, LIMITED
      By:  American Money Management Corp., as
Collateral Manager           By:   /s/ David P. Meyer         Name:   David P.
Meyer        Title:   Senior Vice President     
For any Lender requiring a second signature block:
 
  By:           Name:           Title:      

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.     Name of the
Lender:  AMMC VIII, LIMITED

By: American Money Management Corp.,
as Collateral Manager
      By:   /s/ David P. Meyer         Name:   David P. Meyer        Title:  
Senior Vice President     
For any Lender requiring a second signature block:
    By:           Name:           Title:      

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.     Name of the
Lender:  Continental Casualty Company
      By:   /s/ Lynne Gugenheim         Name:   Lynne Gugenheim        Title:  
Senior Vice President and Deputy
General Counsel     
For any Lender requiring a second signature block:
    By:           Name:           Title:      

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.     Name of the
Lender:  The Hartford Mutual Funds, Inc.,
on behalf of The Hartford Floating Rate Fund
By Hartford Investment Management Company, its
Sub-advisor
      By:   /s/ Michael J. Bacevich         Name:   Michael J. Bacevich       
Title:   Managing Director     

         
For any Lender requiring a second signature block:

    By:           Name:           Title:        

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.       Name of the
Lender:  ALZETTE EUROPEAN CLO S.A.

By: INVESCO Senior Secured Management, Inc.
As Collateral Manager
      By:   /s/ Thomas H.B. Ewald         Name:   Thomas H.B. Ewald       
Title:   Authorized Signatory     

         
For any Lender requiring a second signature block:

    By:           Name:           Title:        

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.       Name of the
Lender:  AVALON CAPITAL LTD. 3

By: INVESCO Senior Secured Management, Inc.
As Asset Manager
      By:   /s/ Thomas H.B. Ewald         Name:   Thomas H.B. Ewald       
Title:   Authorized Signatory     

         
For any Lender requiring a second signature block:

    By:           Name:           Title:        

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.         Name of
the Lender:  BELHURST CLO LTD.           By: INVESCO Senior Secured Management,
Inc.
As Collateral Manager
            By:   /s/ Thomas H.B. Ewald         Name:   Thomas H.B. Ewald       
Title:   Authorized Signatory     
For any Lender requiring a second signature block:
    By:           Name:           Title:        

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.         Name of
the Lender:  CHAMPLAIN CLO, LTD           By: INVESCO Senior Secured Management,
Inc. As Collateral Manager             By:   /s/ Thomas H.B. Ewald        
Name:   Thomas H.B. Ewald        Title:   Authorized Signatory     
For any Lender requiring a second signature block:
    By:           Name:           Title:        

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.         Name of
the Lender:  Confluent 3 Limited.           By: Invesco Senior Secured
Management, Inc. As Investment Manager             By:   /s/ Thomas H.B. Ewald  
      Name:   Thomas H.B. Ewald        Title:   Authorized Signatory     
For any Lender requiring a second signature block:
    By:           Name:           Title:        

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.         Name of
the Lender:  DIVERSIFIED CREDIT PORTFOLIO LTD.           By: INVESCO Senior
Secured Management, Inc. as Investment Adviser             By:   /s/ Thomas H.B.
Ewald         Name:   Thomas H.B. Ewald        Title:   Authorized Signatory   
  For any Lender requiring a second signature block:        
    By:           Name:           Title:        

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.         Name of
the Lender:  HUDSON CANYON FUNDING II, LTD           By: INVESCO Senior Secured
Management, Inc. As Collateral Manager & Attorney InFact             By:   /s/
Thomas H.B. Ewald         Name:   Thomas H.B. Ewald        Title:   Authorized
Signatory     
For any Lender requiring a second signature block:
    By:           Name:           Title:        

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.         Name of
the Lender:  Invesco Floating Rate Fund           By: INVESCO Senior Secured
Management, Inc.
As Sub-Adviser             By:   /s/ Thomas H.B. Ewald         Name:   Thomas
H.B. Ewald        Title:   Authorized Signatory     
For any Lender requiring a second signature block:
    By:           Name:           Title:        

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.         Name of
the Lender:  Invesco Prime Income Trust            By: Invesco Senior Secured
Management, Inc. as
Sub-Adviser             By:   /s/ Thomas H.B. Ewald         Name:   Thomas H.B.
Ewald        Title:   Authorized Signatory     
For any Lender requiring a second signature block:
    By:           Name:           Title:        

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.         Name of
the Lender:  Invesco Van Kampen Dynamic Credit Opportunities Fund            By:
Invesco Senior Secured Management, Inc. as
Sub-Adviser             By:   /s/ Thomas H.B. Ewald         Name:   Thomas H.B.
Ewald        Title:   Authorized Signatory     
For any Lender requiring a second signature block:
    By:           Name:           Title:        

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.         Name of
the Lender:  Invesco Van Kampen Senior Income Trust            By: Invesco
Senior Secured Management, Inc. as
Sub-Adviser             By:   /s/ Thomas H.B. Ewald         Name:   Thomas H.B.
Ewald        Title:   Authorized Signatory     
For any Lender requiring a second signature block:
    By:           Name:           Title:        

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.         Name of
the Lender:  Invesco Van Kampen Senior Loan Fund            By: Invesco Senior
Secured Management, Inc. as
Sub-Adviser             By:   /s/ Thomas H.B. Ewald         Name:   Thomas H.B.
Ewald        Title:   Authorized Signatory     
For any Lender requiring a second signature block:
    By:           Name:           Title:        

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.       Name of the
Lender:  LIMEROCK CLO I
      By:   INVESCO Senior Secured Management, Inc.       As Investment Manager 
              By:   /s/ Thomas H.B. Ewald         Name:   Thomas H.B. Ewald     
  Title:   Authorized Signatory     
For any Lender requiring a second signature block:
    By:           Name:           Title:        

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.       Name of the
Lender:  MOSELLE CLO S.A.
      By:   INVESCO Senior Secured Management, Inc.       As Collateral Manager 
                  By:   /s/ Thomas H.B. Ewald         Name:   Thomas H.B. Ewald 
      Title:   Authorized Signatory     
For any Lender requiring a second signature block:
    By:           Name:           Title:        

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.             Name
of the Lender:  Morgan Stanley Investment Management Croton, Ltd.
      By:   Invesco Senior Secured Management, Inc. As       Collateral Manager 
                  By:   /s/ Thomas H.B. Ewald         Name:   Thomas H.B. Ewald 
      Title:   Authorized Signatory     
For any Lender requiring a second signature block:
    By:           Name:           Title:        

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.       Name of the
Lender:  MSIM Peconic Bay, Ltd.
      By:   Invesco Senior Secured Management, Inc. As       Collateral Manager 
          By:   /s/ Thomas H.B. Ewald         Name:   Thomas H.B. Ewald       
Title:   Authorized Signatory     
For any Lender requiring a second signature block:
    By:           Name:           Title:        

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.       Name of the
Lender:  NAUTIQUE FUNDING LTD.
      By:   INVESCO Senior Secured Management, Inc.       As Collateral Manager 
                  By:   /s/ Thomas H.B. Ewald         Name:   Thomas H.B. Ewald 
      Title:   Authorized Signatory     
For any Lender requiring a second signature block:
    By:           Name:           Title:        

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.       Name of the
Lender:  Qualcomm Global Trading, Inc.

By: Invesco Senior Secured Management, Inc. As
Investment Manager
      By:   /s/ Thomas H.B. Ewald         Name:   Thomas H.B. Ewald       
Title:   Authorized Signatory     
For any Lender requiring a second signature block:
 
  By:           Name:           Title:        

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.       Name of the
Lender:  SARATOGA CLO I, LIMITED

By: INVESCO Senior Secured Management, Inc.
As Asset Manager
      By:   /s/ Thomas H.B. Ewald         Name:   Thomas H.B. Ewald       
Title:   Authorized Signatory     
For any Lender requiring a second signature block:
 
  By:           Name:           Title:        

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.       Name of the
Lender:   WASATCH CLO LTD

By: INVESCO Senior Secured Management, Inc.
As Portfolio Manager
      By:   /s/ Thomas H.B. Ewald         Name:   Thomas H.B. Ewald       
Title:   Authorized Signatory     
For any Lender requiring a second signature block:
 
  By:           Name:           Title:        

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.       Name of the
Lender:  Invesco Funds III — Invesco US Senior Loan Fund

By: Invesco Asset Management S.A.
As Investment Manager
      By:   /s/ Thomas H.B. Ewald         Name:   Thomas H.B. Ewald       
Title:   Authorized Signatory     
For any Lender requiring a second signature block:
 
  By:           Name:           Title:        

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.       Name of the
Lender:  Nationwide Defined Benefit Master Trust
      By:   /s/ Ronald R. Serpico         Name:   Ronald R. Serpico       
Title:   Authorized Signatory     
For any Lender requiring a second signature block:
 
  By:           Name:           Title:        

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.       Name of the
Lender:  Nationwide Mutual Insurance Company
      By:   /s/ Ronald R. Serpico         Name:   Ronald R. Serpico       
Title:   Authorized Signatory     
For any Lender requiring a second signature block:
 
  By:           Name:           Title:        

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.       Name of the
Lender:  Redwood Master Fund Ltd
      By:   /s/ Rich Barrera         Name:   Rich Barrera        Title:  
Principal     
For any Lender requiring a second signature block:
 
  By:           Name:           Title:        

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.       Name of the
Lender:  Redwood Opportunity Master Fund Ltd
      By:   /s/ Rich Barrera         Name:   Rich Barrera        Title:  
Principal     
For any Lender requiring a second signature block:
 
  By:           Name:           Title:        

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.           Name of
the Lender:  The Bank of Nova Scotia         By:   /s/ J. Frazell        
Name:   J. Frazell        Title:   Director     
For any Lender requiring a second signature block:
    By:           Name:           Title:        

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.           Name of
the Lender:  BELL ATLANTIC MASTER TRUST

By: Crescent Capital Group LP, its sub-adviser
      By:   /s/ Scott E. Feldman         Name:   Scott E. Feldman       
Title:   Senior Vice President     
For any Lender requiring a second signature block:

    By:   /s/ Jonathan R. Insull         Name:   Jonathan R. Insull       
Title:   Managing Director     

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.
    Name of the Lender:  FARAKER INVESTMENT PTE LTD.

By: Crescent Capital Group LP, its sub-adviser
      By:   /s/ Scott E. Feldman         Name:   Scott E. Feldman       
Title:   Senior Vice President     
For any Lender requiring a second signature block:
 
  By:   /s/ Jonathan R. Insull         Name:   Jonathan R. Insull       
Title:   Managing Director     

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.
    Name of the Lender:  FIRST 2004-I CLO, LTD.

By: TCW-WLA JV Venture LLC, its sub-adviser
      By:   /s/ Scott E. Feldman         Name:   Scott E. Feldman       
Title:   Senior Vice President     
For any Lender requiring a second signature block:
 
  By:   /s/ Jonathan R. Insull         Name:   Jonathan R. Insull       
Title:   Managing Director     

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.           Name of
the Lender:  FIRST 2004-II CLO, LTD.

By: TCW-WLA JV Venture LLC, its sub-adviser
      By:   /s/ Scott E. Feldman         Name:   Scott E. Feldman       
Title:   Senior Vice President     
For any Lender requiring a second signature block:
 
  By:   /s/ Jonathan R. Insull         Name:   Jonathan R. Insull       
Title:   Managing Director     

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.       Name of the
Lender:  ILLINOIS STATE BOARD OF INVESTMENT         By:   Crescent Capital Group
LP, its sub-adviser         By:   /s/ Scott E. Feldman         Name:   Scott E.
Feldman        Title:   Senior Vice President     
For any Lender requiring a second signature block:
    By:   /s/ Jonathan R. Insull         Name:   Jonathan R. Insull       
Title:   Managing Director     

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.       Name of the
Lender:  MAC CAPITAL, LTD.         By:   TCW-WLA JV Venture LLC, its sub-adviser
        By:   /s/ Scott E. Feldman         Name:   Scott E. Feldman       
Title:   Senior Vice President     
For any Lender requiring a second signature block:
    By:   /s/ Jonathan R. Insull         Name:   Jonathan R. Insull       
Title:   Managing Director   

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.       Name of the
Lender:  MOMENTUM CAPITAL FUND, LTD.         By:   TCW-WLA JV Venture LLC, its
sub-adviser         By:   /s/ Scott E. Feldman         Name:   Scott E. Feldman 
      Title:   Senior Vice President     
For any Lender requiring a second signature block:
    By:   /s/ Jonathan R. Insull         Name:   Jonathan R. Insull       
Title:   Managing Director     

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.       Name of the
Lender:  PALMETTO INVESTORS MASTER FUND, LLC.         By:   Crescent Capital
Group LP, its sub-adviser         By:   /s/ Scott E. Feldman         Name:  
Scott E. Feldman        Title:   Senior Vice President     
For any Lender requiring a second signature block:
    By:   /s/ Jonathan R. Insull         Name:   Jonathan R. Insull       
Title:   Managing Director     

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.       Name of the
Lender:   RGA REINSURANCE COMPANY         By:   Crescent Capital Group LP, its
sub-adviser         By:   /s/ Scott E. Feldman         Name:   Scott E. Feldman 
      Title:   Senior Vice President     
For any Lender requiring a second signature block:
    By:   /s/ Jonathan R. Insull         Name:   Jonathan R. Insull       
Title:   Managing Director     

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.       Name of the
Lender:   Trust Company of the West, As
trustee of TCW Capital Trust
      By:   /s/ Melissa V. Weiter         Name:   Melissa V. Weiter       
Title:   Managing Director      For any Lender requiring a second signature
block:         
    By:   /s/ Jonathan R. Insull         Name:   Jonathan R. Insull       
Title:   Managing Director     

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.       Name of the
Lender:   TCW SENIOR SECURED FLOATING RATE
LOAN FUND, L.P.
      By:   Crescent Capital Group LP, its sub-adviser             By:   /s/
Scott E. Feldman         Name:   Scott E. Feldman        Title:   Senior Vice
President   

          For any Lender requiring a second signature block:          

            By:   /s/ Jonathan R. Insull         Name:   Jonathan R. Insull     
  Title:   Managing Director     

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.       Name of the
Lender:  TCW SENIOR SECURED LOAN FUND, LP
      By:   Crescent Capital Group LP, its sub-adviser             By:   /s/
Scott E. Feldman         Name:   Scott E. Feldman        Title:   Senior Vice
President   

          For any Lender requiring a second signature block:        
    By:   /s/ Jonathan R. Insull         Name:   Jonathan R. Insull       
Title:   Managing Director   

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.       Name of the
Lender:   VELOCITY CLO LTD.
      By:   TCW-WLA JV Venture LLC, its sub-adviser             By:   /s/ Scott
E. Feldman         Name:   Scott E. Feldman        Title:   Senior Vice
President   

          For any Lender requiring a second signature block:        
    By:   /s/ Jonathan R. Insull         Name:   Jonathan R. Insull       
Title:   Managing Director     

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.       Name of the
Lender:   VITESSE CLO LTD.
      By:   TCW-WLA JV Venture LLC, its sub-adviser             By:   /s/ Scott
E. Feldman         Name:   Scott E. Feldman        Title:   Senior Vice
President   

          For any Lender requiring a second signature block:        
    By:   /s/ Jonathan R. Insull         Name:   Jonathan R. Insull       
Title:   Managing Director     

Signature Page to Amendment No. 1 to Credit Agreement

 

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LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED AS OF JUNE
30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.       Name of the Lender:  
WEST BEND MUTUAL INSURANCE COMPANY
      By:   Crescent Capital Group LP, its sub-adviser             By:   /s/
Scott E. Feldman         Name:   Scott E. Feldman        Title:   Senior Vice
President   

          For any Lender requiring a second signature block:        
    By:   /s/ Jonathan R. Insull         Name:   Jonathan R. Insull       
Title:   Managing Director     

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.       Name of the
Lender:   KKR CORPORATE CREDIT PARTNERS L.P.
      By:   /s/ Jeffrey M. Smith         Name:   Jeffrey M. Smith       
Title:   Authorized Signatory   

          For any Lender requiring a second signature block:        
    By:           Name:           Title:        

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.       Name of the
Lender:   KKR DEBT INVESTORS II (2006)(IRELAND) L.P.         By:   /s/ Jeffrey
M. Smith         Name:   Jeffrey M. Smith        Title:   Authorized Signatory 
 

          For any Lender requiring a second signature block:        
    By:           Name:           Title:        

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.       Name of the
Lender:   KKR FI PARTNERS I L.P.
      By:   /s/ Jeffrey M. Smith         Name:   Jeffrey M. Smith       
Title:   Authorized Signatory   

          For any Lender requiring a second signature block:        
    By:           Name:           Title:        

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.       Name of the
Lender:   KKR FINANCIAL CLO 2005-1, LTD.
      By:   /s/ Jeffrey M. Smith         Name:   Jeffrey M. Smith       
Title:   Authorized Signatory   

          For any Lender requiring a second signature block:          
    By:           Name:           Title:        

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.  

  Name of the Lender:  KKR FINANCIAL CLO 2005-2, LTD.
      By:   /s/ Jeffrey M. Smith         Name:   Jeffrey M. Smith       
Title:   Authorized Signatory     
For any Lender requiring a second signature block:  
    By:           Name:           Title:      

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.       Name of the
Lender: 
KKR FINANCIAL CLO 2006-1, LTD.
    By:   /s/ Jeffrey M. Smith         Name:   Jeffrey M. Smith        Title:  
Authorized Signatory     
For any Lender requiring a second signature block:
    By:           Name:           Title:        

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.       Name of the
Lender:  KKR FINANCIAL CLO 2007-A, LTD.
    By:   /s/ Jeffrey M. Smith         Name:   Jeffrey M. Smith        Title:  
Authorized Signatory     
For any Lender requiring a second signature block:
    By:           Name:           Title:        

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.       Name of the
Lender:  KKR FINANCIAL CLO 2007-1, LTD.
    By:   /s/ Jeffrey M. Smith         Name:   Jeffrey M. Smith        Title:  
Authorized Signatory     
For any Lender requiring a second signature block:
    By:           Name:           Title:        

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.       Name of the
Lender:  KKR FINANCIAL HOLDINGS III, LLC
    By:   /s/ Jeffrey M. Smith         Name:   Jeffrey M. Smith        Title:  
Authorized Signatory     
For any Lender requiring a second signature block:
    By:           Name:           Title:        

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.       Name of the
Lender:  OREGON PUBLIC EMPLOYEES RETIREMENT FUND
    By:   /s/ Jeffrey M. Smith         Name:   Jeffrey M. Smith        Title:  
Authorized Signatory     
For any Lender requiring a second signature block:
    By:           Name:           Title:        

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.       Name of the
Lender:  MARYLAND STATE RETIREMENT AND PENSION SYSTEM
    By:   /s/ Jeffrey M. Smith         Name:   Jeffrey M. Smith        Title:  
Authorized Signatory     
For any Lender requiring a second signature block:
    By:           Name:           Title:        

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.       Name of the
Lender:  ACE TEMPEST REINSURANCE LTD.
    By:   /s/ Jeffrey M. Smith         Name:   Jeffrey M. Smith        Title:  
Authorized Signatory     
For any Lender requiring a second signature block:
    By:           Name:           Title:        

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.       Name of the
Lender:  KINGSLAND I, LTD.,
    By:   Kingsland Capital Management, LLC,as Manager         By:   /s/ Robert
Perry         Name:   Robert Perry        Title:   Principal     
For any Lender requiring a second signature block: 
    By:           Name:           Title:        

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.       Name of the
Lender:  KINGSLAND II, LTD.,
    By:   Kingsland Capital Management, LLC, as Manager             By:   /s/
Robert Perry         Name:   Robert Perry        Title:   Principal     
For any Lender requiring a second signature block: 
    By:           Name:           Title:        

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.       Name of the
Lender:  KINGSLAND III, LTD.,
    By:   Kingsland Capital Management, LLC, as Manager             By:   /s/
Robert Perry         Name:   Robert Perry        Title:   Principal     
For any Lender requiring a second signature block: 
    By:           Name:           Title:        

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.       Name of the
Lender:  KINGSLAND IV, LTD.,
    By:   Kingsland Capital Management, LLC, as Manager             By:   /s/
Robert Perry         Name:   Robert Perry        Title:   Principal     
For any Lender requiring a second signature block:
    By:           Name:           Title:        

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.       Name of the
Lender:  KINGSLAND V, LTD.,
    By:   Kingsland Capital Management, LLC, as Manager             By:   /s/
Robert Perry         Name:   Robert Perry        Title:   Principal     
For any Lender requiring a second signature block: 
    By:           Name:           Title:        

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.       Name of the
Lender:  Caterpillar Inc. Master Retirement Trust
    By:   DDJ Capital Management, LLC, on behalf of Caterpillar Inc. Master
Retirement Trust, in its capacity as investment manager               By:   /s/
David J. Breazzano         Name:   David J. Breazzano        Title:   President 
   
For any Lender requiring a second signature block:

    By:           Name:           Title:        

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.       Name of the
Lender:  DDJ Distressed and Special Situations Fund, L.P.
    By:   DDJ/GP Distressed and Special Situations,LLC,
its General Partner               By:   DDJ Capital Management, LLC, Manager    
          By:   /s/ David J. Breazzano         Name:   David J. Breazzano       
Title:   President     
For any Lender requiring a second signature block:
    By:           Name:           Title:        

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.       Name of the
Lender:  DDJ High Yield Fund
    By:   DDJ Capital Management, LLC,
its attorney-in-fact*         By:   /s/ David J. Breazzano         Name:   David
J. Breazzano        Title:   President     
For any Lender requiring a second signature block: 
    By:           Name:           Title:        

 

*    The execution of this agreement shall not bind the Trustee, Manager or any
Unit Holder of DDJ High Yield Fund and recourse shall be limited to the Trust
Property (each such term as defined in the trust agreement governing the DDJ
High Yield Fund).

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.       Name of the
Lender:  Stichting Bewaarder Interpolis Pensioenen Global High Yield Pool
    By:   Syntrus Achmea Asset Management, as asset manager         By:   DDJ
Capital Management, LLC, as subadviser         By:   /s/ David J. Breazzano    
    Name:   David J. Breazzano        Title:   President     
For any Lender requiring a second signature block: 
    By:           Name:           Title:        

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.           Name of
the Lender:  GMAM Investment Funds Trust (for the account of the Promark High
Yield Bond Fund (Account No. 7MKM))             By: DDJ Capital Management, LLC,
on behalf of GMAM Investment Funds Trust (for the account of the Promark High
Yield Bond Fund (Account 7MKM)), in its capacity as investment manager
      By:   /s/ David J. Breazzano         Name:   David J. Breazzano       
Title:   President   

         
For any Lender requiring a second signature block:

    By:           Name:           Title:        

  Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.           Name of
the Lender:   GMAM Group Pension Trust III (for the account of the Promark
Alternative High Yield Bond Fund (Account 7M2E))             By: State Street
Bank and Trust Company, solely in its capacity as Trustee for GMAM Group Pension
Trust III, (for the account of the Promark Alternative High Yield Bond Fund
(Account 7M2E)), as directed by DDJ Capital Management, LLC, and not in its
individual capacity
      By:   /s/ Mark London         Name:   Mark London        Title:  
Assistant Vice President   

         
For any Lender requiring a second signature block:

    By:           Name:           Title:        

  Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.           Name of
the Lender:  Houston Municipal Employees Pension System             By: DDJ
Capital Management, LLC, in its capacity as Manager
      By:   /s/ David J. Breazzano         Name:   David J. Breazzano       
Title:   President   

         
For any Lender requiring a second signature block:

    By:           Name:           Title:        

  Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.            Name of
the Lender:  J.C. Penney Corporation, Inc. Pension Plan Trust             By:
DDJ Capital Management, LLC, on behalf of J.C. Penney Corporation, Inc. Pension
Plan Trust, in its capacity as investment manager
      By:   /s/ David J. Breazzano         Name:   David J. Breazzano       
Title:   President   

         
For any Lender requiring a second signature block:

    By:           Name:           Title:        

  Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.            Name of
the Lender:  National Railroad Retirement Investment Trust             By: DDJ
Capital Management, LLC, in its capacity as Investment Manager
      By:   /s/ David J. Breazzano         Name:   David J. Breazzano       
Title:   President   

         
For any Lender requiring a second signature block:

    By:           Name:           Title:        

  Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.            Name of
the Lender:  Stichting Pensioenfonds voor Fysiotherapeuten             By: DDJ
Capital Management, LLC, in its capacity as investment manager
      By:   /s/ David J. Breazzano         Name:   David J. Breazzano       
Title:   President   

         
For any Lender requiring a second signature block:

    By:           Name:           Title:        

  Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.            Name of
the Lender:  Stichting Pensioenfonds Hoogovens             By: DDJ Capital
Management, LLC, on behalf of Stichting Pensioenfonds Hoogovens, in its capacity
as Manager
      By:   /s/ David J. Breazzano         Name:   David J. Breazzano       
Title:   President   

         
For any Lender requiring a second signature block:

    By:           Name:           Title:        

  Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.              
 Name of the Lender:  Stichting Pensioenfonds Metaal en Techniek             By:
DDJ Capital Management, LLC, in its capacity as Manager
      By:   /s/ David J. Breazzano         Name:   David J. Breazzano       
Title:   President   

         
For any Lender requiring a second signature block:

    By:           Name:           Title:        

  Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.          
             Name of the Lender:  Stichting Pensioenfonds van de Metalektro
(PME)             By: DDJ Capital Management, LLC, in its capacity
as Manager
      By:   /s/ David J. Breazzano         Name:   David J. Breazzano       
Title:   President   

         
For any Lender requiring a second signature block:

    By:           Name:           Title:        

  Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.              Name
of the Lender:  UAW Retiree Medical Benefits Trust             By: State Street
Bank and Trust company, solely in its capacity as Trustee for UAW Retiree
Medical Benefits Trust, as directed by DDJ Capital Management, LLC, and not in
its individual capacity
      By:   /s/ William C. Collins         Name:   William C. Collins       
Title:   Vice President State
Street Bank & Trust Co.   

         
For any Lender requiring a second signature block:

    By:           Name:           Title:        

  Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.

     Name of the Lender:  CIFC Funding 2006-IB, Ltd.
      By: Its Collateral Manager, Commercial Industrial
Finance Corp.
      By:   /s/ Robert C. Milton III         Name:   Robert C. Milton III       
Title:   Gen. Counsel/Secretary     

For any Lender requiring a second signature block:

            By:           Name:           Title:        

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.

    Name of the Lender:  CIFC Funding 2007-I, Ltd.
      By its Collateral Manager, Commercial Industrial
Finance Corp.
      By:   /s/ Robert C. Milton III         Name:   Robert C. Milton III       
Title:   Gen. Counsel/Secretary     

For any Lender requiring a second signature block:

            By:           Name:           Title:        

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.

    Name of the Lender:  CIFC Funding 2007-II, Ltd.
      By its Collateral Manager, Commercial Industrial
Finance Corp.
      By:   /s/ Robert C. Milton III         Name:   Robert C. Milton III       
Title:   Gen. Counsel/Secretary     

For any Lender requiring a second signature block:

            By:           Name:           Title:        

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.

    Name of the Lender:  CIFC Funding 2007-IV, Ltd.
      By its Collateral Manager, Commercial Industrial
Finance Corp.
      By:   /s/ Robert C. Milton III         Name:   Robert C. Milton III       
Title:   Gen Counsel/Secretary     

For any Lender requiring a second signature block:

            By:           Name:           Title:        

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.

  Name of the Lender:  Consumer Program Administrators, Inc.
      By: Onex Credit Partners, LLC, its investment
manager
      By:   /s/ Steven Gutman         Name:   Steven Gutman        Title:  
General Counsel     

For any Lender requiring a second signature block:

            By:           Name:           Title:        

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.

  Name of the Lender:  IDEO
            By:   /s/ Arlene Arellano         Name:   Arlene Arellano       
Title:   Authorized Signatory     

For any Lender requiring a second signature block:

            By:           Name:           Title:        

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.

  Name of the Lender:  OCP Investment Trust
      By: Onex Credit Partners, LLC, its manager
      By:   /s/ Steven Gutman         Name:   Steven Gutman        Title:  
General Counsel     

For any Lender requiring a second signature block:

            By:           Name:           Title:        

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.

  Name of the Lender:  Onex Debt Opportunity Fund, L.P.
      By: Onex Credit Partners, LLC, its investment
manager
      By:   /s/ Steven Gutman         Name:   Steven Gutman        Title:  
General Counsel     

For any Lender requiring a second signature block:

            By:           Name:           Title:        

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.

  Name of the Lender:  Onex Senior Credit II, LP
      By: Onex Credit Partners, LLC, its investment
manager
      By:   /s/ Steven Gutman         Name:   Steven Gutman        Title:  
General Counsel     

For any Lender requiring a second signature block:

            By:           Name:           Title:        

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.

  Name of the Lender:  Cratos CLO I Ltd.
      By: Illegible
      By:   /s/ Renee Lefebvre         Name:   Renee Lefebvre        Title:  
Managing Director     

For any Lender requiring a second signature block:

            By:           Name:           Title:        

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.

Name of the Lender:  Chubb and Son, A Division of Federal Insurance Co.

  By Fountain Capital as Agent

  By:   /s/ Adam T. Peltzer         Name:   Adam T. Peltzer        Title:  
Partner     
For any Lender requiring a second signature block:
    By:   /s/ Douglas E. Campbell         Name:   Douglas E. Campbell       
Title:   Partner     

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.

Name of the Lender:  The Lutheran Church-Missouri Synod Foundation

  By Fountain Capital as Agent

  By:   /s/ Adam T. Peltzer         Name:   Adam T. Peltzer        Title:  
Partner     
For any Lender requiring a second signature block:
    By:   /s/ Douglas E. Campbell         Name:   Douglas E. Campbell       
Title:   Partner     

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.

Name of the Lender:  New York City District Council of Carpenters Pension Fund

  By Fountain Capital as Agent

  By:   /s/ Adam T. Peltzer         Name:   Adam T. Peltzer        Title:  
Partner     
For any Lender requiring a second signature block:
    By:   /s/ Douglas E. Campbell         Name:   Douglas E. Campbell       
Title:   Partner     

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.

Name of the Lender:  School Employees Retirement System of Douglas County School
District 0001

  By Fountain Capital as Agent

  By:   /s/ Adam T. Peltzer         Name:   Adam T. Peltzer        Title:  
Partner     
For any Lender requiring a second signature block:
    By:   /s/ Douglas E. Campbell         Name:   Douglas E. Campbell       
Title:   Partner     

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.

Name of the Lender:  State Boston Retirement System

  By Fountain Capital as Agent

  By:   /s/ Adam T. Peltzer         Name:   Adam T. Peltzer        Title:  
Partner     
For any Lender requiring a second signature block:
    By:   /s/ Douglas E. Campbell         Name:   Douglas E. Campbell       
Title:   Partner     

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.

Name of the Lender:  Texas Treasury Safekeeping Trust Company

  By Fountain Capital as Agent

  By:   /s/ Adam T. Peltzer         Name:   Adam T. Peltzer        Title:  
Partner     
For any Lender requiring a second signature block:
    By:   /s/ Douglas E. Campbell         Name:   Douglas E. Campbell       
Title:   Partner     

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.

Name of the Lender:  The Salvation Army

  By Fountain Capital as Agent

  By:   /s/ Adam T. Peltzer         Name:   Adam T. Peltzer        Title:  
Partner     
For any Lender requiring a second signature block:
    By:   /s/ Douglas E. Campbell         Name:   Douglas E. Campbell       
Title:   Partner     

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.

Name of the Lender:  UBS AG, Stamford Branch

  By:   /s/ Joselin Fernandes         Name:   Joselin Fernandes         Title:  
Associate Director
Banking Products Services, US     
For any Lender requiring a second signature block:
    By:   /s/ Illegible         Name:           Title:        

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.

Name of the Lender:  Luminus Management, LLC

  By:   /s/ J. Barrons         Name:   J. Barrons        Title:   MD     
For any Lender requiring a second signature block:
    By:           Name:           Title:        

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.

Name of the Lender:  Hallmark Insurance Co

  By:   /s/ Chris Kenney         Name:   Chris Kenney        Title:   Vice
President     
For any Lender requiring a second signature block:
    By:           Name:           Title:        

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.       Name of the
Lender:  Green Island CBNA Loan Funding LLC

By: Citibank, N.A.
      By:   /s/ Lynette Thompson         Name:   Lynette Thompson       
Title:   Director     
For any Lender requiring a second signature block:

    By:             Name:         Title:        

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.       Name of the
Lender:  CANARAS SUMMIT CLO LTD

By: Canaras Capital Management LLC
As Sub-Investment Adviser
      By:   /s/ Richard J. Vratanina         Name:   Richard J. Vratanina       
Title:   Authorized Signatory     
For any Lender requiring a second signature block:
 
  By:             Name:           Title:      

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.       Name of the
Lender:  ROSEDALE CLO LTD.

By: Princeton Advisory Group, Inc.
the Collateral Manager
      By:   /s/ Illegible         Name:         Title:   Analyst     
For any Lender requiring a second signature block:

    By:             Name:           Title:      

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.       Name of the
Lender:  UBS Loan Finance LLC
      By:   /s/ Mary E. Evans         Name:   Mary E. Evans        Title:  
Associate Director
Banking Products Services, US     
For any Lender requiring a second signature block:

    By:   /s/ April Varner-Nanton         Name:   April Varner-Nanton       
Title:   Director Banking Products Services, US   

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.
    Name of the Lender:  Capital One, N.A.
      By:   /s/ Bobby Hamilton         Name:   Bobby Hamilton        Title:  
Assistant V.P.     
For any Lender requiring a second signature block:

    By:             Name:           Title:      

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.
      Name of the Lender:  CREDIT SUISSE AG, CAYMAN ISLANDS
BRANCH
      By:   /s/ Mikhail Faybusovich         Name:   Mikhail Faybusovich       
Title:   Director     
For any Lender requiring a second signature block:

    By:   /s/ Vipui Dhadda         Name:   Vipui Dhadda        Title:  
Associate     

Signature Page to Amendment No. 1 to Credit Agreement

 

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            LENDER SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT DATED
AS OF JUNE 30, 2010, OF WILLBROS UNITED STATES HOLDINGS, INC.       Name of the
Lender:  Amegy Bank National Association
      By:   /s/ C. Ross Bartley         Name:   C. Ross Bartley        Title:  
Senior Vice President     
For any Lender requiring a second signature block:

    By:             Name:         Title:      

Signature Page to Amendment No. 1 to Credit Agreement

 

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Annex I
See attached.

 

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EXHIBIT B
FORM OF COMPLIANCE CERTIFICATE
[For Fiscal Quarter Ended              (the “Reporting Period)]
[For Fiscal Year Ended              (the “Reporting Period)]
     This certificate, dated as of ______________, _______, is prepared pursuant
to Section 5.06(c)(ii) of the Credit Agreement dated as of June 30, 2010 (as
amended, restated, supplemented or otherwise modified from time to time, the
“Credit Agreement”) among Willbros United States Holdings, Inc., a Delaware
corporation (“Borrower”), Willbros Group, Inc., a Delaware corporation (the
“Parent”), and certain subsidiaries thereof, as guarantors, the lenders from
time to time party thereto, Crédit Agricole Corporate and Investment Bank, as
Administrative Agent, Collateral Agent and Issuing Bank, and UBS Securities LLC,
as Syndication Agent, and Natixis, The Bank of Nova Scotia and Capital One,
N.A., as Co-Documentation Agents. Unless otherwise defined in this certificate,
capitalized terms used herein shall have the meanings assigned to them in the
Credit Agreement.
     The Parent hereby certifies (a) that no Default or Event of Default has
occurred or is continuing, (b) [no change] [a change] in GAAP or in the
application thereof has occurred since the date of the consolidated balance
sheet of the Parent most recently delivered under Section 5.06(a) or 5.06(b)
[describe such change, if applicable] and (c) the following amounts and
calculations are true and correct:
[Remainder of page intentionally left blank.]

 

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1.   Section 6.15 — Maximum Capital Expenditures.       During the Interim
Period:

      Capital Expenditures1 do not exceed $60,000,000 in the aggregate for the
period from the Closing Date to and including the last day of the Reporting
Period.

             
 
  Compliance   Yes   No
 
           
 
  After the Interim Period:        

             
 
  (a)   Capital Expenditures made during the Fiscal Year ended on the last day
of the Reporting Period   $ _______________
 
           
 
  (b)   Consolidated EBITDA2 for the Fiscal Year ended on the last day of the
Reporting Period   $_______________
 
           
 
  (c)   25% of Consolidated EBITDA for the Fiscal Year ended on the last day of
the Reporting Period   $_______________

  Capital Expenditures do not exceed the higher of (i) $70,000,000 in the
aggregate for the Reporting Period or (ii) 25% of Consolidated EBITDA for the
Reporting Period

             
 
  Compliance   Yes   No

 

1   See Schedule 2 for detailed calculation of Capital Expenditures.   2   See
Schedule 1 for detailed calculation of Consolidated EBITDA.

 

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2.   Section 6.16 — Minimum Interest Coverage Ratio

             
 
  (a)   Consolidated EBITDA for the applicable number of fiscal quarters period
ended on the last day of the Reporting Period3   $_______________
 
           
 
  (b)   Consolidated Interest Expense4 for the applicable number of fiscal
quarters period ended on the last day of the Reporting Period5  
$_______________

    Interest Coverage Ratio = (a) divided by (b)       Minimum Interest Coverage
Ratio permitted under Section 6.16 of Credit Agreement:

                              As of the last day of any fiscal quarter, not less
than the ratio set forth below with respect to such fiscal quarter:
 
                   
 
      Fiscal quarters ending June 30, 2010, September 30, 2010, December 31,
2010, March 31, 2011, June 30, 2011, September 30, 2011 and December 31, 2011:  
2.00 to 1.00        
 
                   
 
      Fiscal quarter ending March 31, 2012:   2.25 to 1.00        
 
                   
 
      Fiscal quarters ending June 30, 2012, September 30, 2012 and December 31,
2012, March 31, 2013, June 30, 2013 and September 30, 2013:   2.75 to 1.00      
 
 
                   
 
      Fiscal quarter ending December 31, 2013 and each fiscal quarter
thereafter:   3.00 to 1.00        
 
                      Compliance   Yes           No        

 

3   In the case of the fiscal quarter ending June 30, 2010, for such fiscal
quarter; in the case of the fiscal quarter ending September 30, 2010, the two
fiscal quarter period then ended; in the case of the fiscal quarter ending
December 31, 2010, the three fiscal quarter period then ended; and in the case
of any fiscal quarter ending after December 31, 2010, the four fiscal quarter
period then ended.   4   See Schedule 3 for detailed calculation of Consolidated
Interest Expense.   5   In the case of the fiscal quarter ending June 30, 2010,
for such fiscal quarter; in the case of the fiscal quarter ending September 30,
2010, the two fiscal quarter period then ended; in the case of the fiscal
quarter ending December 31, 2010, the three fiscal quarter period then ended;
and in the case of any fiscal quarter ending after December 31, 2010, the four
fiscal quarter period then ended.

 

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3.   Section 6.17 — Maximum Total Leverage Ratio.

             
 
  (a)   (i) Consolidated Debt as of the last day of the Reporting Period plus
(ii) to the extent not included in clause (i), all reimbursement obligations
(contingent or otherwise) as of the last day of the Reporting Period in respect
of Financial Letters of Credit issued upon the application of the Parent or any
of its Subsidiaries or upon which the Parent or any of its Subsidiaries is an
account party, but only to the extent the aggregate amount of such reimbursement
obligations is in excess of $15,000,000   $_______________
 
           
 
  (b)   Consolidated EBITDA for the four fiscal quarter period ended on or prior
to the last day of the Reporting Period   $_______________
 
           
 
  Total Leverage Ratio = (a) divided by (b)   ________________

    Maximum Total Leverage Ratio permitted under Section 6.17 of Credit
Agreement:

               As of the last day of any fiscal quarter, commencing with the
fiscal quarter ending December 31, 2010, not to exceed the ratio set forth below
with respect to such fiscal quarter:

             
 
      Fiscal quarters ending December 31, 2010, March 31, 2011, June 30, 2011
and September 30, 2011:   5.00 to 1.00
 
           
 
      Fiscal quarter ending December 31, 2011:   4.75 to 1.00
 
           
 
      Fiscal quarter ending March 31, 2012:   3.75 to 1.00
 
           
 
      Fiscal quarters ending June 30, 2012 and September 30, 2012:   3.50 to
1.00
 
           
 
      Fiscal quarter ending December 31, 2012, March 31, 2013, June 30, 2013 and
September 30, 2013:   3.25 to 1.00
 
           
 
      Fiscal quarter ending December 31, 2013 and each fiscal quarter
thereafter:   3.00 to 1.00
 
              Compliance Yes            No

 

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4.   Section 6.19 — Minimum Tangible Net Worth

             
 
  (a)   Stockholders’ Equity of the Parent and its Subsidiaries on a
consolidated basis as of the last day of the Reporting Period  
$________________
 
           
 
  (b)   Goodwill of the Parent and its Subsidiaries on a consolidated basis as
of the last day of the Reporting Period   $________________
 
           
 
  (c)   Amount attributable to the net Tax liabilities for repatriation by any
CFC to the Parent, the Borrower or any of its Domestic Subsidiaries of any cash
earned from outside the United States of America   $________________

    Tangible Net Worth = (a) + (c)6 - (b)
$________________

                 
 
  (v)   $ 240,000,000     $________________
 
               
 
  (w)   50% of Consolidated Net Income earned for each fiscal quarter ending
after December 31, 2009 (with no deduction for a net loss in any such fiscal
quarter)   $________________
 
               
 
  (x)   75% of the Equity Issuance Proceeds from any Equity Issuance consummated
after the Effective Date   $________________
 
               
 
  (y)   75% of the increase in the Stockholders’ Equity resulting from the
conversion after the Effective Date of any Convertible Senior Notes into common
stock of the Parent   $________________

    Minimum Tangible Net Worth permitted under Section 6.19 of the Credit
Agreement = (v) + (w) + (x) + (y) $________________

               
Compliance
    Yes           No

 

6   To the extent the Stockholders’ Equity was affected by such amount on and
after December 31, 2010.

 

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5.   Section 6.20 — Minimum EBITDA       Consolidated EBITDA not less than:

               (a) $35,000,000, for the Reporting Period7 and
               (b) $75,000,000, for the two (2) consecutive fiscal quarters
ending September 30, 2010.

             
Compliance
        Yes           No

 

7   To be provided for the fiscal quarters ending June 30, 2010 and
September 30, 2010.

 

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6.   Section 6.21 — Minimum Cash Balance.

During the Interim Period:
     At any time during the Reporting Period, the aggregate amount of cash and
Cash Equivalents owned by the Parent and its Subsidiaries: not less than
$60,000,000.

             
Compliance
        Yes           No

 

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[7. Excess Cash Flow for the Reporting Period: ___]8
 

8   To be included if delivering the financial statements referred to in
Section 5.06(a) of the Credit Agreement. See Schedule 4 for a detailed
calculation of Excess Cash Flow.

 

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     IN WITNESS WHEREOF, I, solely in my capacity as ___________ of the Parent,
have hereto signed my name to this Compliance Certificate as of
                    , ______.

            WILLBROS GROUP, INC.
      By:           Name:           Title:        

 

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SCHEDULE 1
TO COMPLIANCE CERTIFICATE
Calculation of Consolidated EBITDA

                                  Quarter Ending   Quarter Ending   Quarter
Ending   Quarter Ending         COMPONENT OF CONSOLIDATED EBITDA   __/__/__  
__/__/__   __/__/__   __/__/__   TOTAL    
a. Consolidated Net Income, excluding the results from discontinued operations
(as determined in accordance with GAAP)
                       
 
                    Plus  
b. Consolidated Interest Expense9
                       
 
                    Plus  
c. charges against income for foreign, federal, state, and local Taxes9
                       
 
                    Plus  
d. depreciation and amortization expense9
                       
 
                    Plus  
e. other non-cash charges or losses (other than non-cash charges related to the
SEC/DOJ Investigation)9
                       
 
                    Plus  
f. extraordinary or non-recurring expenses or losses (other than any such
expenses or losses arising from the accrual of the earnout liability related to
the InfrastruX Merger)9
                       
 
                    Plus  
g. amortization, write-off or write-down of debt discount, capitalized interest,
debt issuance costs and commissions, discounts and other fees and charges
associated with letters of credit or Debt9
                       
 
                    Minus  
h. extraordinary or non-recurring gains10
                       
 
                    Minus  
i. any non-cash gains arising from the reversal of the accrual of the earnout
liability related to the InfrastruX Merger10
                   

 

9   To the extent deducted in determining Consolidated Net Income.   10   To the
extent included in determining Consolidated Net Income.

Schedule 2 to Compliance Certificate — Page 1

 

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                              Quarter Ending   Quarter Ending   Quarter Ending  
Quarter Ending         COMPONENT OF CONSOLIDATED EBITDA   __/__/__   __/__/__  
__/__/__   __/__/__   TOTAL Minus gain Or Plus loss  
j. any gains or losses on sales of assets of the Parent or any of its
Subsidiaries (other than in the ordinary course of business) 11
                   
 
                Minus  
k. the income of any Person (other than any Wholly-Owned Subsidiary of the
Parent) in which the Parent or any Wholly-Owned Subsidiary owns any Equity
Interest, except to the extent (i) such income is received by the Parent or such
Wholly-Owned Subsidiary in a cash distribution during such period or (ii) the
payment of cash dividends or similar cash distributions by such Person to the
Parent or such Wholly-Owned Subsidiary on account of such ownership is not
prohibited by any Governmental Authority or by the operation of the terms of the
Organizational Documents of such Person or any agreement or other instrument
binding on such Person10
                   
 
                Minus gain or Plus loss  
l. non-cash gains (other than gains resulting from derivatives to the extent the
amount of commodities hedged with such derivatives exceeds the Parent’s and its
Subsidiaries’ commodities sold) and losses as a result of changes in the fair
value of derivatives11
                   
 
                Plus  
m. non-cash charges and losses incurred on or prior to December 31, 2009
associated with the penalties and disgorgements sought to be assessed pursuant
to the SEC/DOJ Investigation9
               

 

11   To the extent included (or deducted) in determining Consolidated Net
Income.

Schedule 2 to Compliance Certificate — Page 2

 

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                              Quarter Ending   Quarter Ending   Quarter Ending  
Quarter Ending         COMPONENT OF CONSOLIDATED EBITDA   __/__/__   __/__/__  
__/__/__   __/__/__   TOTAL Plus  
n.   any loss or expense resulting from payments made to the holders of the 6.5%
Convertible Senior Notes in connection with the Third Supplemental Indenture, to
be dated as of July 1, 2010, to the 6.5% Indenture9
                   
 
                Minus  
o.   cash payments made during such period in respect of non-cash charges added
back in determining Consolidated EBITDA (including any such non-cash charges
arising from the accrual of the earnout liability related to the InfrastruX
Merger) for any previous period
                   
 
                Plus  
p.   fees and expenses in an aggregate amount not to exceed $20,000,000 relating
to the InfrastruX Merger, the Refinancing Transactions and the transactions
contemplated by the Credit Agreement9
                   
 
                Plus  
q.   fees and expenses incurred on or prior to December 31, 2009, related to the
reincorporation of the Parent in the State of Delaware and the related
transactions9
                   
 
                Minus gains or plus
losses  
r.   gain or loss arising from early extinguishment of Debt or obligations under
any Hedging Arrangement11
                   
 
                Plus  
s.   charges and losses incurred during the fiscal year ended December 31, 2009
in connection with severance and operating lease abandonment, in an aggregate
amount not to exceed $12,700,0009
                   
 
                Plus  
t.   management fees paid to Tenaska Capital Management, LLC by InfrastruX on or
before the Effective Date in an aggregate amount not to exceed $2,600,0009
                   
 
                Plus  
u.   fees and expenses paid or payable in connection with any waiver or
amendment of any Debt9
               

Schedule 2 to Compliance Certificate — Page 3

 

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                              Quarter Ending   Quarter Ending   Quarter Ending  
Quarter Ending         COMPONENT OF CONSOLIDATED EBITDA   __/__/__   __/__/__  
__/__/__   __/__/__   TOTAL Plus  
v.   any premiums or similar fees paid or payable in connection with a
prepayment of any Debt9
                   
 
                Plus  
w.   costs, expenses and charges relating to the independent compliance monitor
retained as a result of the SEC/DOJ Investigation incurred on or prior to
December 31, 2012, provided that the aggregate amount added pursuant to clauses
(w) and (x) in any period of four consecutive fiscal quarters shall not exceed
$5,000,0009
                   
 
                   
x.   costs, expenses and charges relating to the TransCanada Pipeline
Arbitration incurred on or prior to December 31, 2012, provided that the
aggregate amount added pursuant to clauses (w) and (x) in any period of four
consecutive fiscal quarters shall not exceed $5,000,0009
                   
 
                Provided that  
y.   for purposes of calculating Consolidated EBITDA for any period, if during
such period the Parent or any Subsidiary shall have consummated (i) the
InfrastruX Merger or (ii) any Acquisition or any Asset Disposition the aggregate
consideration paid or received in which by the Parent and its Subsidiaries
exceeded $25,000,000, Consolidated EBITDA for such period shall be calculated
after giving pro forma effect thereto in accordance with Section 1.03(c) of the
Credit Agreement.
                   
 
                CONSOLIDATED EBITDA:                

Schedule 2 to Compliance Certificate — Page 4

 

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SCHEDULE 2
TO COMPLIANCE CERTIFICATE
Calculation of Capital Expenditures

                                  Quarter Ending   Quarter Ending   Quarter
Ending   Quarter Ending         COMPONENT OF CAPITAL EXPENDITURES   __/__/__  
__/__/__   __/__/__   __/__/__   TOTAL    
a.   all expenditures of the Parent and its Subsidiaries in respect of the
purchase or other acquisition, construction or improvement of any fixed or
capital assets that are required to be capitalized under GAAP on a consolidated
balance sheet of the Parent and its Subsidiaries as property, plant, equipment
or other fixed assets
                       
 
                    Excluding  
b.   normal replacements and maintenance which are properly charged to current
operations
                       
 
                    Excluding  
c.   expenditures made on account of any loss, destruction or damage of any
fixed or capital assets, or any actual condemnation, seizure or taking, by
exercise of eminent domain or otherwise, of any fixed or capital assets, or any
confiscation or requisition of the use of any fixed or capital assets, to the
extent such expenditures do not exceed the amount of the insurance proceeds,
condemnation awards or damage recovery proceeds relating thereto
                       
 
                    Excluding  
d.   any Qualified Investment made pursuant to any Reinvestment Notice
                   

Schedule 2 to Compliance Certificate — Page 1

 

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                              Quarter Ending   Quarter Ending   Quarter Ending  
Quarter Ending         COMPONENT OF CAPITAL EXPENDITURES   __/__/__   __/__/__  
__/__/__   __/__/__   TOTAL Excluding  
e.   any such expenditures in the form of a substantially contemporaneous
exchange of similar fixed or capital assets, except to the extent of cash or
other consideration (other than the assets so exchanged), if any, paid or
payable by the Parent and its Subsidiaries
                   
 
                Excluding  
f.   any Investment or Acquisition
                   
 
                Excluding  
g.   expenditures in connection with the construction, development and/or
operation and maintenance of any Governmental Fueling Facility.
                   
 
                CAPITAL EXPENDITURES:                

Schedule 2 to Compliance Certificate — Page 2

 

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SCHEDULE 3
TO COMPLIANCE CERTIFICATE
Calculation of Consolidated Interest Expense

                              Quarter ending   Quarter ending   Quarter ending  
Quarter ending     COMPONENT OF CONSOLIDATED INTEREST EXPENSE   __/__/__  
__/__/__   __/__/__   __/__/__    
a.   The interest expense of the Parent and its Subsidiaries, calculated on a
consolidated basis in accordance with GAAP for such period
                   
 
                Excluding  
b.   amortization, write-off or write-down of debt discount, capitalized
interest and debt issuance costs and commissions, discounts and other fees and
charges associated with letters of credit or Debt12
                   
 
                Excluding  
c.   non-cash gains (other than gains resulting from derivatives to the extent
the amount of commodities hedged with such derivatives exceeds the Parent’s and
its Subsidiaries’ commodities sold) and losses as a result of changes in the
fair value of derivatives.12
                   
 
                   
CONSOLIDATED INTEREST EXPENSE
               

 

12   To the extent included in the interest expense of the Parent and its
Subsidiaries.

 

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SCHEDULE 4
TO COMPLIANCE CERTIFICATE
Calculation of Excess Cash Flow

                      COMPONENT OF EXCESS CASH FLOW   Fiscal Year Ending
___/___/__        
a.   Consolidated EBITDA for such fiscal year (determined on the basis of
Consolidated Net Income not adjusted to exclude the results of discontinued
operations)
               
 
            minus  
b.   the sum of:
               
 
               
(i) Consolidated Interest Expense for such fiscal year actually paid in cash by
the Parent and its Subsidiaries,
               
 
               
(ii) the net amount, if any, by which the “Contract costs and recognized income
not yet billed” (or a similar line item referred to in the consolidated
financial statements of the Parent) increased during such fiscal year,
               
 
               
(iii) the aggregate principal amount of Long-Term Debt and Capital Leases repaid
or prepaid by the Parent and its Subsidiaries during such fiscal year, excluding
               
 
               
(A) repayment or prepayment of the Revolving Advances and other revolving
extensions of credit (except to the extent that any repayment or prepayment of
such Debt is accompanied by a permanent reduction in related commitments),
               
 
               
(B) repayment or prepayment of the Term Loans, other than scheduled principal
payments pursuant to Section 2.07(b) of the Credit Agreement, and
               
 
               
(C) repayments or prepayments of Long-Term Debt funded with the proceeds of
other Long-Term Debt,
               
 
               
(iv) all income Taxes actually paid in cash by the Parent and its Subsidiaries
during such fiscal year,
               
 
               
(v) the sum of (A) the Capital Expenditures actually made in cash by the Parent
and its Subsidiaries during such fiscal year (except to the extent financed with
the proceeds of Debt, Equity Issuances, casualty proceeds, or other proceeds
that were not included in determining Consolidated EBITDA for such fiscal year)
and (B) the aggregate amount of cash consideration paid by the Parent and its
Subsidiaries during such fiscal year to make Investments and other Acquisitions
permitted under Section 6.05 of the Credit Agreement,
           

 

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                      COMPONENT OF EXCESS CASH FLOW   Fiscal Year Ending
___/___/__        
(vi) to the extent not reducing Consolidated EBITDA for such fiscal year (but
without duplication of any other deductions to Excess Cash Flow for such fiscal
year), the aggregate amount actually paid in cash by the Parent and its
Subsidiaries during such fiscal year in satisfaction of litigation and similar
proceedings, earn-out obligations and other obligations and liabilities (other
than Debt), including any such amounts paid in respect of items referred to in
clauses (w) and (x) of the “Consolidated EBITDA” calculation on Schedule 1 to
this Compliance Certificate,
               
 
            plus  
c.   to the extent not otherwise included in Excess Cash Flow for such fiscal
year, net cash proceeds received by the Parent or its Subsidiaries during such
fiscal year from the TransCanada Pipeline Project, either through the collection
of receivables or pursuant to the settlement of the TransCanada Pipeline
Arbitration (it being understood and agreed that any amounts added back pursuant
to this clause (c) with respect to any fiscal year shall, to the extent
otherwise included in Excess Cash Flow for any subsequent fiscal year, be
deducted in determining Excess Cash Flow for such subsequent fiscal year).
               
 
                 
EXCESS CASH FLOW