Exhibit 10.1
FIRST AMENDMENT TO CREDIT AGREEMENT
     THIS FIRST AMENDMENT TO CREDIT AGREEMENT (the “Amendment”), dated
April 25th, 2006, by and among P.H. GLATFELTER COMPANY, a Pennsylvania
corporation (the “Company”), on behalf of itself and each of the other Loan
Parties under the Credit Agreement (as hereinafter defined), the BANKS (as
defined under the Credit Agreement) parties hereto, PNC BANK, NATIONAL
ASSOCIATION, in its capacity as agent for the Banks (the “Agent”).
WITNESSETH:
     WHEREAS, the parties hereto are parties to that certain Credit Agreement,
dated as of April 3, 2006 (the “Credit Agreement”);
     WHEREAS, the parties hereto desire to amend the Credit Agreement as
provided herein.
     NOW, THEREFORE, the parties hereto, in consideration of their mutual
covenants and agreements hereinafter set forth and intending to be legally bound
hereby, covenant and agree as follows (Defined terms used herein unless
otherwise amended or defined herein shall have the meanings ascribed to them in
the Credit Agreement as amended by this Amendment.):
1. Amendment to Section 8.1.12 [Note Issue] of the Credit Agreement.
     Clause (iii) of Section 8.1.12 [Note Issue] of the Credit Agreement (which
reads as follows: “(iii) the warranties and covenants contained in the
agreements governing such Required Note Refinancing shall not be more
restrictive than those contained in this Agreement;”) is hereby deleted and the
words “and (iv)” which follow immediately after such clause (iii) are hereby
amended to read “and (iii)”.
2. Conditions to the Effectiveness of this Amendment.
     This Amendment shall be effective upon when it has been signed by the
Company, the Required Banks and the Agent.
3. Force and Effect.
     Each of the parties hereto reconfirms and ratifies the Credit Agreement and
all other documents executed in connection therewith, and confirms that all such
documents remain in full force and effect since the date of their execution,
except to the extent modified by this Amendment.
4. Governing Law.
     This Amendment shall be deemed to be a contract under the laws of the
Commonwealth of Pennsylvania and for all purposes shall be governed by and
construed and enforced in accordance with the internal laws of the Commonwealth
of Pennsylvania without regard to its conflict of laws principles.

 

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5. Counterparts.
     This Amendment may be signed by telecopy or original in any number of
counterparts each of which shall be deemed an original, but all of which
together shall constitute one and the same instrument.
     IN WITNESS WHEREOF, the parties have executed this instrument under seal as
of the day and year first above written.
[SIGNATURE PAGES FOLLOWS]

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[SIGNATURE. PAGE 1 OF 4 TO
FIRST AMENDMENT TO CREDIT AGREEMENT]

              COMPANY:
 
            P.H. GLATFELTER COMPANY,
FOR ITSELF AND EACH OTHER LOAN PARTY
 
       
 
  By:   /s/ John C. van Roden, Jr.
 
       
 
  Name:   John C. van Roden, Jr.
 
  Title:   Executive Vice President &
Chief Financial Officer

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[SIGNATURE PAGE 2 OF 4 TO
FIRST AMENDMENT TO CREDIT AGREEMENT]

              BANKS AND AGENT:
 
            PNC BANK, NATIONAL ASSOCIATION,
individually and as Agent
 
       
 
  By:   /s/ Frank A. Pugliese
 
       
 
  Name:   Frank A. Pugliese
 
  Title:   Senior Vice President
 
            CREDIT SUISSE, CAYMAN ISLANDS BRANCH
 
       
 
  By:   /s/ David Dodd      /s/ Mikhail Faybusovich
 
       
 
  Name:   David Dodd            Mikhail Faybusovich
 
  Title:   Vice President        Associate
 
            LASALLE BANK NATIONAL ASSOCIATION
 
       
 
  By:   /s/ Philip R. Medsger
 
       
 
  Name:   Philip R. Medsger
 
  Title:   First Vice President
 
            MANUFACTURERS AND TRADERS TRUST COMPANY
 
       
 
  By:   /s/ Tracey E. Sawyer Calhoun
 
       
 
  Name:   Tracey E. Sawyer Calhoun
 
  Title:   Vice President

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[SIGNATURE PAGE 3 OF 4
TO FIRST AMENDMENT TO CREDIT AGREEMENT]

              SUNTRUST BANK
 
       
 
  By:   /s/ William C. Washburn, Jr.
 
       
 
  Name:   William C. Washburn, Jr.
 
  Title:   Vice President
 
            BANK OF AMERICA, N.A.
 
       
 
  By:    
 
       
 
  Name:    
 
       
 
  Title:    
 
       
 
            HSBC BANK USA
 
       
 
  By:   /s/ Wynelle Farlow
 
       
 
  Name:   Wynelle Farlow
 
  Title:   Vice President
 
            CITIBANK, N.A.
 
       
 
  By:   /s/ Christopher Webb
 
       
 
  Name:   Christopher Webb
 
  Title:   Senior Vice President
 
            CITIBANK, N.A., CANADIAN BRANCH
 
       
 
  By:    
 
       
 
  Name:    
 
       
 
  Title:    
 
       

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[SIGNATURE PAGE 4 OF 4 TO
FIRST AMENDMENT TO CREDIT AGREEMENT]

         
 
            CITIZENS BANK OF PENNSYLVANIA
 
       
 
  By:   /s/ Michael J. Gillig
 
       
 
  Name:   Michael J. Gillig
 
  Title:   Vice President
 
            COMMERZBANK AG, NEW YORK AND
GRAND CAYMAN BRANCHES
 
       
 
  By:    
 
       
 
  Name:    
 
       
 
  Title:    
 
       
 
            COMERICA BANK
 
       
 
  By:   /s/ Stacey Judd
 
       
 
  Name:   Stacey Judd
 
  Title:   Vice President
 
            FIFTH THIRD BANK
 
       
 
  By:   /s/ Jim Janovsky
 
       
 
  Name:
Title:   Jim Janovsky
Vice President
 
            COBANK, ACB
 
       
 
  By:   /s/ Michael Tousignant
 
       
 
  Name:   Michael Tousignant
 
  Title:   Vice President

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