Exhibit 10.1
EXECUTION VERSION
AMENDMENT NO. 1
          AMENDMENT NO. 1 dated as of January 31, 2011 among The Shaw Group Inc.
(the “Borrower”), the subsidiaries of the Borrower listed on the signature pages
hereto as “Guarantors”, the Lenders listed on the signature pages hereto and BNP
Paribas, as administrative agent (in such capacity, the “Agent”).
          The Borrower, the Guarantors party thereto, the Lenders party thereto
and the Agent are parties to an Amended and Restated Credit Agreement dated as
of September 24, 2009 (as amended, modified and supplemented and in effect from
time to time, the “Credit Agreement”), providing, subject to the terms and
conditions thereof, for extensions of credit (by means of loans and letters of
credit) to be made by the Lenders to the Borrower.
          The parties hereto wish to amend the Credit Agreement as hereinafter
set forth and accordingly hereby agree as follows:
          Section 1. Definitions. Except as otherwise defined in this Amendment
No. 1, terms defined in the Credit Agreement are used herein as defined therein.
          Section 2. Amendments. Subject to the satisfaction of the conditions
precedent specified in Section 4 below, but effective as of the date hereof, the
Credit Agreement shall be amended as follows:
          2.01. References Generally. References in the Credit Agreement
(including references to the Credit Agreement as amended hereby) to “this
Agreement” (and indirect references such as “hereunder”, “hereby”, “herein” and
“hereof”) shall be deemed to be references to the Credit Agreement as amended
hereby.
          2.02. Publicly Traded Capital Stock. Section 6.10(b) of the Credit
Agreement shall be amended by replacing “$250,000,000” with “$500,000,000”.
          Section 3. Representations and Warranties. The Borrower represents and
warrants to the Lenders that (i) the representations and warranties set forth in
Article V of the Credit Agreement and the representations and warranties by the
Borrower and its Domestic Subsidiaries in each of the other Loan Documents to
which they are a party are true and correct on the date hereof as if made on and
as of the date hereof (except to the extent any such representation or warranty
is stated to relate solely to an earlier date, in which case such representation
or warranty shall have been true and correct on and as of such earlier date) and
as if each reference in said Article V to “this Agreement” included reference to
this Amendment No. 1 and (ii) on the date hereof, no Default or Unmatured
Default has occurred or is continuing.

 

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          Section 4. Conditions Precedent. The amendment set forth in Section 2
hereof shall become effective, as of the date hereof, upon the execution and
delivery of counterparts of this Amendment No. 1 by the Borrower, the
Guarantors, the Agent and the Required Lenders (and the Borrower and each
Guarantor, by its execution and delivery of this Amendment No. 1, each hereby
confirms and ratifies all of its respective obligations under the Guaranty, the
Security Agreement and the Subordination Agreement with respect to the
amendments effected hereby).
          Section 5. Miscellaneous. Except as herein provided, the Credit
Agreement shall remain unchanged and in full force and effect. This Amendment
No. 1 may be executed in any number of counterparts, all of which taken together
shall constitute one and the same amendatory instrument and any of the parties
hereto may execute this Amendment No. 1 by signing any such counterpart. This
Amendment No. 1 shall be governed by, and construed in accordance with, the law
of the State of New York.
[Remainder of page intentionally blank]

 

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          IN WITNESS WHEREOF, the parties hereto have caused this Amendment
No. 1 to be duly executed and delivered as of the day and year first above
written.

            THE SHAW GROUP INC.
      By:   /s/ Brian K. Ferraioli         Name:   Brian K. Ferraioli       
Title:   Executive Vice President and Chief Financial Officer   

 

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            GUARANTORS:
LANDBANK PROPERTIES, L.L.C.
By its sole member

The LandBank Group, Inc.
      By:   /s/ Brian K. Ferraioli         Name:   Brian K. Ferraioli       
Title:   Executive Vice President and Assistant Treasurer     

            ARLINGTON AVENUE E VENTURE, LLC
BENICIA NORTH GATEWAY II, L.L.C.
CAMDEN ROAD VENTURE, LLC
CHIMENTO WETLANDS, L.L.C.
GREAT SOUTHWEST PARKWAY VENTURE, LLC
HL NEWHALL II, L.L.C.
JERNEE MILL ROAD, L.L.C.
KATO ROAD II, L.L.C.
KIP I, L.L.C.
LANDBANK BAKER, L.L.C.
MILLSTONE RIVER WETLAND SERVICES, L.L.C.
NORWOOD VENTURE I, L.L.C.
OTAY MESA VENTURES II, L.L.C.
PLATTSBURG VENTURE, L.L.C.
RARITAN VENTURE I, L.L.C.
WHIPPANY VENTURE I, L.L.C.
By their sole member

LandBank Properties, L.L.C.
by its sole member

The LandBank Group, Inc.
      By:   /s/ Brian K. Ferraioli         Name:   Brian K. Ferraioli       
Title:   Executive Vice President and Assistant Treasurer   

 

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            AMERICAN PLASTIC PIPE AND SUPPLY, L.L.C.
LFG SPECIALTIES, L.L.C.
SO-GLEN GAS CO., LLC
By their sole member

EMCON/OWT, Inc.
      By:   /s/ Brian K. Ferraioli         Name:   Brian K. Ferraioli       
Title:   Executive Vice President and Treasurer        SHAW FT. LEONARD WOOD
HOUSING, L.L.C.
SHAW BEALE HOUSING, L.L.C.
SHAW HANSCOM HOUSING, L.L.C.
SHAW LITTLE ROCK HOUSING, L.L.C.
SHAW NORTHEAST HOUSING, L.L.C.
SHAW NORTHWEST HOUSING, L.L.C.
By their sole member

Shaw Infrastructure, Inc.
      By:   /s/ Brian K. Ferraioli         Name:   Brian K. Ferraioli       
Title:   Executive Vice President and Treasurer   

 

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            FT. LEONARD WOOD MANAGEMENT COMPANY, L.L.C.
By its sole member

Shaw Ft. Leonard Wood Housing II, L.L.C.
By its sole member

Shaw Ft. Leonard Wood Housing, L.L.C.
By its sole member

Shaw Infrastructure, Inc.
      By:   /s/ Brian K. Ferraioli         Name:   Brian K. Ferraioli       
Title:   Executive Vice President and Treasurer        SHAW GBB, LLC
SHAW LIQUID SOLUTIONS, LLC
By their sole member

Shaw Environmental & Infrastructure, Inc.
      By:   /s/ Michael H. Dillman         Name:   Michael H. Dillman       
Title:   Executive Vice President, Chief Financial Officer and Treasurer   

 

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            SHAW GBB INTERNATIONAL, LLC
By its sole member

Shaw GBB, L.L.C.
By its sole member

Shaw Environmental & Infrastructure, Inc.
      By:   /s/ Michael H. Dillman         Name:   Michael H. Dillman       
Title:   Executive Vice President, Chief Financial Officer and Treasurer       
SELS ADMINISTRATIVE SERVICES, L.L.C.
By its sole member

Shaw Environmental Liability Solutions, L.L.C.
By its sole member

Shaw E & I Investment Holdings, Inc.
      By:   /s/ Brian K. Ferraioli         Name:   Brian K. Ferraioli       
Title:   Executive Vice President and Treasurer        SHAW ENVIRONMENTAL
LIABILITY SOLUTIONS, L.L.C.
By its sole member

Shaw E & I Investment Holdings, Inc.
      By:   /s/ Brian K. Ferraioli         Name:   Brian K. Ferraioli       
Title:   Executive Vice President and Treasurer   

 

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            HYDRO POWER SOLUTIONS LLC
By its sole member

Shaw California, L.L.C.
By its sole member

Shaw Environmental, Inc.
      By:   /s/ Michael H. Dillman         Name:   Michael H. Dillman       
Title:   Executive Vice President, Chief Financial Officer and Treasurer       
SHAW CALIFORNIA, L.L.C.
By its sole member

Shaw Environmental, Inc.
      By:   /s/ Michael H. Dillman         Name:   Michael H. Dillman       
Title:   Executive Vice President, Chief Financial Officer and Treasurer       
BADGER TECHNOLOGY HOLDINGS, L.L.C.
By its sole member

Badger Technologies, L.L.C.
By its sole member

Stone & Webster Process Technology, Inc.
      By:   /s/ Brian K. Ferraioli         Name:   Brian K. Ferraioli       
Title:   President and Treasurer     

 

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            BADGER TECHNOLOGIES, L.L.C.
By its sole member

Stone & Webster Process Technology, Inc.
      By:   /s/ Brian K. Ferraioli         Name:   Brian K. Ferraioli       
Title:   President and Treasurer        NUCLEAR TECHNOLOGY SOLUTIONS, L.L.C.
By its sole member

SC Woods, L.L.C.
By its sole member

Stone & Webster, Inc.
      By:   /s/ Mark McKain         Name:   Mark McKain        Title:   Vice
President and Secretary        SC WOODS, L.L.C.
INTERNATIONAL CONSULTANTS, L.L.C.
STONE & WEBSTER SERVICES, L.L.C.
By their sole member

Stone & Webster, Inc.
      By:   /s/ Mark McKain         Name:   Mark McKain        Title:   Vice
President and Secretary   

 

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            STONE & WEBSTER CONSTRUCTION SERVICES, L.L.C.
By its sole member

Stone & Webster Construction, Inc.
      By:   /s/ Richard Gast         Name:   Richard Gast        Title:  
President, Treasurer and Assistant Secretary        SHAW RIO GRANDE HOLDINGS,
L.L.C.
By its sole member

Shaw Rio Grande Valley Fabrication & Manufacturing, L.L.C.
By its sole member

Shaw Power Services, LLC
      By:   /s/ Brian K. Ferraioli         Name:   Brian K. Ferraioli       
Title:   Executive Vice President and Treasurer        SHAW RIO GRANDE VALLEY
FABRICATION & MANUFACTURING, L.L.C.
By its sole member

Shaw Power Services, LLC
      By:   /s/ Brian K. Ferraioli         Name:   Brian K. Ferraioli       
Title:   Executive Vice President and Treasurer   

 

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            EDS EQUIPMENT COMPANY, LLC
By its sole member

Shaw Transmission & Distribution Services, Inc.
      By:   /s/ Richard W. Shimota         Name:   Richard W. Shimota       
Title:   Executive Vice President and Treasurer        GREATER BATON ROUGE
ETHANOL, L.L.C.
By its sole member

Shaw Biofuels, L.L.C.
By its sole member

Shaw Capital, Inc.
      By:   /s/ Craig Pierce         Name:   Craig Pierce        Title:   Vice
President and Treasurer        SHAW BIOFUELS, L.L.C.
By its sole member

Shaw Capital, Inc.
      By:   /s/ Craig Pierce         Name:   Craig Pierce        Title:   Vice
President and Treasurer   

 

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            SHAW MEXICO, L.L.C.
By its sole member

Shaw Americas, L.L.C.
By its sole member

The Shaw Group Inc.
      By:   /s/ Brian K. Ferraioli         Name:   Brian K. Ferraioli       
Title:   Executive Vice President and Chief Financial Officer        SHAW
AMERICAS, L.L.C.
SHAW JV HOLDINGS, L.L.C.
SHAW POWER SERVICES GROUP, L.L.C.
SHAW REMEDIATION SERVICES, L.L.C.
SHAW SERVICES, L.L.C.
By their sole member

The Shaw Group Inc.
      By:   /s/ Brian K. Ferraioli         Name:   Brian K. Ferraioli       
Title:   Executive Vice President and Chief Financial Officer        GFM REAL
ESTATE LLC
      By:   /s/ David L. Bullington         Name:   David L. Bullington       
Title:   Manager and Tax        INTEGRATED SITE SOLUTIONS, L.L.C.
      By:   /s/ George P. Bevan         Name:   George P. Bevan        Title:  
President and Treasurer     

 

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            SHAW GLOBAL, L.L.C.
      By:   /s/ Craig Pierce         Name:   Craig Pierce        Title:  
President and Treasurer     

 

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            B.F. SHAW, INC.
C.B.P. ENGINEERING CORP.
EMCON/OWT, INC.
ENVIROGEN, INC.
GHG SOLUTIONS, INC.
MWR, INC.
PIKE PROPERTIES I, INC.
PIKE PROPERTIES II, INC.
PROSPECT INDUSTRIES (HOLDINGS), INC.
SHAW ALASKA, INC.
SHAW ALLOY PIPING PRODUCTS, LLC
SHAW APP TUBLINE, INC.
SHAW BENECO, INC.
SHAW CMS, INC.
SHAW COASTAL, INC.
SHAW CONNEX, INC.
SHAW CONSULTANTS INTERNATIONAL, INC.
SHAW E & I INVESTMENT HOLDINGS, INC.
SHAW ENVIRONMENTAL & INFRASTRUCTURE
          INTERNATIONAL, INC.
SHAW ENVIRONMENTAL & INFRASTRUCTURE
          MASSACHUSETTS, INC.
SHAW EUROPE, INC.
SHAW FABRICATION & MANUFACTURING
          INTERNATIONAL, INC.
SHAW FIELD SERVICES, INC.
SHAW GBB MAINTENANCE, INC.
SHAW GRP OF CALIFORNIA
SHAW HOME LOUISIANA, INC.
SHAW INDUSTRIAL SUPPLY CO., INC.
SHAW INFRASTRUCTURE, INC.
SHAW MID STATES PIPE FABRICATING, INC.
SHAW MORGAN CITY TERMINAL, INC.
SHAW NAPTECH, INC.
SHAW POWER SERVICES, LLC
SHAW PROCESS AND INDUSTRIAL GROUP, INC.
SHAW PROCESS FABRICATORS, INC.
SHAW PROJECT SERVICES GROUP, INC.
SHAW SSS FABRICATORS, INC.
SHAW SUNLAND FABRICATORS, LLC
SHAW TULSA FABRICATORS, INC.
      By:   /s/ Brian K. Ferraioli         Name:   Brian K. Ferraioli       
Title:   Executive Vice President and Treasurer   

 

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            SHAW CAPITAL, INC.
      By:   /s/ Craig Pierce         Name:   Craig Pierce        Title:   Vice
President and Treasurer     

            SHAW ENERGY & CHEMICALS, INC.
SHAW ENERGY & CHEMICALS
          INTERNATIONAL, INC.
SHAW ENVIRONMENTAL INTERNATIONAL, INC.
SHAW FABRICATORS, INC.
      By:   /s/ Brian K. Ferraioli         Name:   Brian K. Ferraioli       
Title:   Executive Vice President and Assistant Treasurer     

            SHAW ENVIRONMENTAL & INFRASTRUCTURE, INC.
SHAW ENVIRONMENTAL, INC.
      By:   /s/ Michael H. Dillman         Name:   Michael H. Dillman       
Title:   Executive Vice President, Chief Financial Officer and Treasurer     

            SHAW FABRICATION & MANUFACTURING, INC.
      By:   /s/ David L. Chapman, Sr.         Name:   David L. Chapman, Sr.     
  Title:   President        SHAW FACILITIES, INC.
      By:   /s/ David Kinnison         Name:   David Kinnison        Title:  
President   

 

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            SHAW GLOBAL ENERGY SERVICES, INC.
SHAW MAINTENANCE, INC.
      By:   /s/ Margaret E. Carriere         Name:   Margaret E. Carriere       
Title:   Vice President and Secretary        SHAW GLOBAL OFFSHORE SERVICES, INC.
      By:   /s/ Margaret E. Carriere         Name:   Margaret E. Carriere       
Title:   Vice President and Assistant Secretary        SHAW NC COMPANY, INC.
      By:   /s/ Richard W. Shimota         Name:   Richard W. Shimota       
Title:   Senior Vice President and Treasurer        SHAW NORTH CAROLINA, INC.
STONE & WEBSTER, INC.
STONE & WEBSTER INTERNATIONAL, INC.
      By:   /s/ Mark McKain         Name:   Mark McKain        Title:   Vice
President and Secretary        SHAW NUCLEAR SERVICES, INC.
      By:   /s/ Richard W. Shimota         Name:   Richard W. Shimota       
Title:   Senior Vice President, Treasurer and Chief Financial Officer   

 

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            SHAW POWER, INC
SHAW POWER DELIVERY SYSTEMS, INC.
SHAW POWER INTERNATION, INC.
SHAW TRANSMISSION & DISTRIBUTION
          SERVICES, INC.
SHAW TRANSMISSION & DISTRIBUTION
          SERVICES INTERNATIONAL, INC.
STONE & WEBSTER ASIA, INC.
      By:   /s/ Richard W. Shimota         Name:   Richard W. Shimota       
Title:   Executive Vice President and Treasurer        SHAW STONE & WEBSTER
PUERTO RICO, INC.
      By:   /s/ Brian K. Ferraioli         Name:   Brian K. Ferraioli       
Title:   Vice President and Treasurer        STONE & WEBSTER CONSTRUCTION, INC.
      By:   /s/ Richard Gast         Name:   Richard Gast        Title:  
President, Treasurer and Assistant Secretary        STONE & WEBSTER HOLDING ONE,
INC.
STONE & WEBSTER HOLDING TWO, INC.
      By:   /s/ Craig Pierce         Name:   Craig Pierce        Title:   Vice
President and Secretary        STONE & WEBSTER MASSACHUSETTS, INC.
      By:   /s/ Richard W. Shimota         Name:   Richard W. Shimota       
Title:   Senior Vice President and Treasurer   

 

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            STONE & WEBSTER MICHIGAN, INC.
      By:   /s/ Gene R. Tilton, P.E.         Name:   Gene R. Tilton, P.E.       
Title:   Vice President and Secretary        STONE & WEBSTER PROCESS TECHNOLOGY,
INC.
      By:   /s/ Brian K. Ferraioli         Name:   Brian K. Ferraioli       
Title:   President and Treasurer        THE LANDBANK GROUP INC.
      By:   /s/ Michael H. Dillman         Name:   Michael H. Dillman       
Title:   Executive Vice President and Treasurer        FIELD SERVICES, INC.
SHAW INTERNATIONAL, INC.
SHAW INTERNATIONAL MANAGEMENT
SERVICES TWO, INC.
SHAW PROPERTY HOLDINGS, INC.
      By:   /s/ Craig Pierce         Name:   Craig Pierce        Title:  
President and Treasurer        SHAW INTELLECTUAL PROPERTY HOLDINGS, INC.
SHAW INTERNATIONAL MANAGEMENT
          SERVICES ONE, INC.
      By:   /s/ Brian K. Ferraioli         Name:   Brian K. Ferraioli       
Title:   President and Treasurer   

 

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            SHAW MANAGED SERVICES, LLC
      By:   /s/ David Bullington         Name:   David Bullington       
Title:   Vice President, Taxation        SHAW CAPITAL (NEVADA), INC.
SHAW MANAGEMENT SERVICES ONE, INC.
      By:   /s/ Craig Pierce         Name:   Craig Pierce        Title:   Vice
President and Treasurer        STONE & WEBSTER INTERNATIONAL
          HOLDINGS, INC.
      By:   /s/ David L. Bullington         Name:   David L. Bullington       
Title:   Vice President, Taxation        SHAW ENERGY SERVICES, INC.
      By:   /s/ Richard W. Shimota         Name:   Richard W. Shimota       
Title:   President and Treasurer        SHAW CONSTRUCTORS, INC.
      By:   /s/ Margaret Carriere         Name:   Margaret Carriere       
Title:   Vice President and Assistant Secretary   

 

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            AGENT:

BNP PARIBAS, as Agent
      By:   /s/ John Treadwell, Jr.         Name:   John Treadwell, Jr.       
Title:   Vice President              By:   /s/ Brendan Heneghan         Name:  
Brendan Heneghan        Title:   Vice President   

 

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            Compass Bank
      By:   /s/ Payton K. Swope         Name:   Payton K. Swope        Title:  
Vice President   

 

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            Bank of America, N.A.
      By:   /s/ Mathew Griesbach         Name:   Mathew Griesbach       
Title:   Director   

 

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            BMO Capital Markets Financing, Inc.
      By:   /s/ John Armstrong         Name:   John Armstrong        Title:  
Director   

 

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            BSBC Bank USA, N.A.
      By:   /s/ Santiago Riviere         Name:   Santiago Riviere       
Title:   Vice President   

 

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            REGIONS BANK
      By:   /s/ Anita L. Coyle         Name:   Anita L. Coyle        Title:  
Senior Vice President   

 

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            THE BANK OF NOVA SCOTIA
      By:   /s/ Paula J. Czach         Name:   Paula J. Czach        Title:  
Managing Director   

 

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            WELLS FARGO BANK, N.A.
      By:   /s/ Eric Montgomery         Name:   Eric Montgomery        Title:  
Vice President   

 

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            CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH
      By:   /s/ Shaheen Malik         Name:   Shaheen Malik        Title:   Vice
President              By:   /s/ Kevin Buddhdew         Name:   Kevin Buddhdew 
      Title:   Associate   

 

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            SunTrust Bank
      By:   /s/ Baerbel Freudenthaler         Name:   Baerbel Freudenthaler     
  Title:   Director   

 

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            Natixis
      By:   /s/ Nicolas Regent         Name:   Nicolas Regent        Title:  
Director              By:   /s/ P. Van Tulgler         Name:   P. Van Tulgler   
    Title:   M.D.   

 

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            UBS Loan Finance LLC
      By:   /s/ Irja R. Otsa         Name:   Irja R. Otsa        Title:  
AssociateDirector              By:   /s/ Mary E. Evans         Name:   Mary E.
Evans        Title:   Associate Director   

 

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            KEYBANK NATIONAL ASSOCIATION
      By:   /s/ Frank J. Jancar         Name:   Frank J. Jancar        Title:  
Vice President   

 

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            MORGAN STANLEY BANK, N.A.
      By:   /s/ Susan Saxe         Name:   Susan Saxe        Title:   Authorized
Signatory     

 

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            Amergy Bank, N.A.
      By:   /s/ Kenyatta B. Gibbs         Kenyatta B. Gibbs        Vice
President     

 

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            FIFTH THIRD BANK, an Ohio banking Corporation (successor by merger
with Fifth Third Bank, N.A.)
      By:   /s/ Justin P. Fontenot         Name:   Justin P. Fontenot       
Title:   Vice President     

 

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            THE SUMITOMO MITSUI BANKING CORPORATION
      By:   /s/ William M. Ginn         William M. Ginn        Executive
Officer     

 

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            United Overseas Bank Ltd, New York Agency
      By:   /s/ K Jin Koh         Name:   K Jin Koh        Title:   Senior Vice
President & General Manager              By:   /s/ Mario Sheng         Name:  
Mario Sheng        Title:   Assistant Vice President     

 

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            ARAB BANKING CORPORATION BSC,
as Lender
      By:   /s/ Robert Ivosevich         Name:   Robert Ivosevich       
Title:   General Manager              By:   /s/ Tony G. Berbari         Name:  
Tony G. Berbari        Title:   Vice President     

 

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            THE GOVERNOR AND COMPANY OF THE BANK OF IRELAND
      By:   /s/ Edward A. Boyle         Name:   Edward A. Boyle        Title:  
Senior Vice President              By:   /s/ Louis F. Dougherty         Name:  
Louis F. Dougherty        Title:   Vice President     

 

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            [LENDER] PREFERRED BANK
      By:   /s/ Louis Couto         Name:   Louis Couto        Title:  
Executive Vice President