Exhibit 10.1

 

AMENDMENT NO. 3 TO CREDIT AGREEMENT

 

THIRD AMENDMENT dated as of June 28, 2004 (this “Amendment”) to the Credit
Agreement dated as of May 20, 2003 (the “Credit Agreement”) among UNITED STATES
STEEL CORPORATION (the “Borrower”), the LENDERS party thereto (the “Lenders”),
the LC ISSUING BANKS party thereto, JPMORGAN CHASE BANK, as Administrative Agent
(the “Administrative Agent”), Collateral Agent, Co-Syndication Agent and
Swingline Lender, and GENERAL ELECTRIC CAPITAL CORPORATION, as Co-Collateral
Agent and Co-Syndication Agent.

 

The parties hereto agree as follows:

 

SECTION 1.  Defined Terms; References.  Unless otherwise specifically defined
herein, each term used herein that is defined in the Credit Agreement has the
meaning assigned to such term in the Credit Agreement. Each reference to
“hereof”, “hereunder”, “herein” and “hereby” and each other similar reference
and each reference to “this Agreement” and each other similar reference
contained in the Credit Agreement shall, after this Amendment becomes effective,
refer to the Credit Agreement as amended hereby.

 

SECTION 2.  Amendment of Section 6.05.  Pursuant to Section 9.02 of the Credit
Agreement, Section 6.05 of the Credit Agreement is amended by replacing clause
“(g) Reserved;” with the following:

 

(g)    sales, transfers and other dispositions of Equity Interests; provided
that the aggregate fair market value of all Equity Interests sold, transferred
or otherwise disposed of in reliance on this clause shall not exceed $15,000,000
during any Fiscal Year;

 

SECTION 3.  Representations of Borrower.  The Borrower represents and warrants
that (i) the representations and warranties of the Borrower set forth in Article
3 of the Credit Agreement are true on and as of the date hereof and (ii) no
Default has occurred and is continuing on and as of the date hereof.

 

SECTION 4.  Governing Law.  This Amendment shall be governed by and construed in
accordance with the laws of the State of New York.

 

SECTION 5.  Counterparts.  This Amendment may be signed in any number of
counterparts, each of which shall be an original, with the same effect as if the
signatures thereto and hereto were upon the same instrument.

 

SECTION 6.  Effectiveness.  This Amendment shall become effective on and as of
the date hereof when the Administrative Agent shall have received from each of
the Borrower and the Required Lenders a counterpart hereof signed by such party
or facsimile or other written confirmation (in form satisfactory to the
Administrative Agent) that such party has signed a counterpart hereof.

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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly
executed as of the date first above written.

 

UNITED STATES STEEL CORPORATION

By:

 

  /s/ G. R. Haggerty

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Name:

 

G. R. Haggerty

   

Title:

 

Executive Vice President,

Treasurer and Chief Financial Officer

JPMORGAN CHASE BANK

By:

 

  /s/ James Ramage

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Name:

 

James Ramage

   

Title:

 

Managing Director

GENERAL ELECTRIC CAPITAL CORPORATION

By:

 

  /s/ Timothy Canon

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Name:

 

Timothy Canon

   

Title:

 

Its Duly Authorized Signatory

BANK ONE

By:

 

  /s/ Randy Abrams

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Name:

 

Randy Abrams

   

Title:

 

Associate Director

THE CIT GROUP/BUSINESS CREDIT, INC.

By:

 

  /s/ George Louis McKinley

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Name:

 

George Louis McKinley

   

Title:

 

Vice President

CITIZENS BANK

By:

 

  /s/ Dwayne R. Finney

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Name:

 

Dwayne R. Finney

   

Title:

 

Vice President

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CONGRESS FINANCIAL CORPORATION (CENTRAL)

By:

 

  /s/ Steven Linderman

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Name:

 

Steven Linderman

   

Title:

 

Senior Vice President

GMAC COMMERCIAL FINANCE LLC

By:

 

  /s/ Marline Alexander-Thomas

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Name:

 

Marline Alexander-Thomas

   

Title:

 

Vice President

GOLDMAN SACHS CREDIT PARTNERS LP

By:

 

  /s/ Pedro Ramirez

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Name:

 

Pedro Ramirez

   

Title:

 

Authorized Signatory

MELLON BANK, N.A.

By:

 

  /s/ Robert J. Reichenbach

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Name:

 

Robert J. Reichenbach

   

Title:

 

Vice President

MERRILL LYNCH CAPITAL, a division of Merrill Lynch Business Financial Services,
Inc.

By:

 

  /s/ Richard Holston

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Name:

 

Richard Holston

   

Title:

 

Vice President

NATIONAL CITY BUSINESS CREDIT, INC.

By:

 

  /s/ William E. Welsh, Jr.

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Name:

 

William E. Welsh, Jr.

   

Title:

 

Senior Associate

THE BANK OF NEW YORK

By:

 

  /s/ Ernest Fung

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Name:

 

Ernest Fung

   

Title:

 

Vice President

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THE NORTHERN TRUST COMPANY

By:

 

  /s/ Christopher L. McKean

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Name:

 

Christopher L. McKean

   

Title:

 

Vice President

THE BANK OF NOVA SCOTIA

By:

 

  /s/ V. Gibson

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Name:

 

V. Gibson

   

Title:

 

Assistant Agent

PNC BANK, NATIONAL ASSOCIATION

By:

 

  /s/ David B. Gookin

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Name:

 

David B. Gookin

   

Title:

 

Managing Director

TRANSAMERICA BUSINESS CAPITAL CORPORATION

By:

 

  /s/ Timothy Canon

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Name:

 

Timothy Canon

   

Title:

 

Its Duly Authorized Signatory

WELLS FARGO FOOTHILL, LLC

By:

 

  /s/ Dennis King

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Name:

 

Dennis King

   

Title:

 

Vice President