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Exhibit 10.1
 
EXECUTION VERSION
 
AMENDMENT dated as of December 20, 2013 (this "Amendment"), relating to the
Credit Agreement dated as of November 28, 2001, as amended and restated as of
May 18, 2012 (as in effect prior to the effectiveness of this Amendment, the
"Existing Credit Agreement"), among COMPASS MINERALS INTERNATIONAL, INC. (the
"US Borrower"), SIFTO CANADA CORP. (the "Canadian Borrower"), SALT UNION LIMITED
(the "UK Borrower" and, together with the US Borrower and the Canadian Borrower,
the "Borrowers"), the LENDERS from time to time party thereto and JPMORGAN CHASE
BANK, N.A., as Administrative Agent (the "Administrative Agent"), and to the US
Collateral and Guaranty Agreement dated as of November 28, 2001, as amended and
restated as of December 22, 2005 and as further amended by the First Amendment
dated as of September 30, 2010 (the "CGA"), among the US Borrower, each other
Subsidiary of the US Borrower party thereto and the Administrative Agent, on
behalf of itself and the other Secured Parties.

WHEREAS, the Borrowers have requested that the Existing Credit Agreement be
amended pursuant to Section 2.28 thereof to (a) refinance the full amount of the
US Revolving Loan Commitments under the Existing Credit Agreement with Other US
Revolving Loan Commitments in an aggregate principal amount of $75,000,000
having a maturity and commitment termination date of August 18, 2017 (the "New
US Revolving Loan Commitments") and (b) refinance the full amount of the Global
Revolving Loan Commitments under the Existing Credit Agreement with Other Global
Revolving Loan Commitments in an aggregate principal amount of $50,000,000
having a maturity and commitment termination date of August 18, 2017 (the "New
Global Revolving Loan Commitments" and, together with the New US Revolving Loan
Commitments, the "New Revolving Loan Commitments") and, upon the effectiveness
of the New Revolving Loan Commitments hereunder, repay all Revolving Loans and
B/A Drawings outstanding immediately prior to such effectiveness, if any, with
the proceeds of Revolving Loans, B/A Drawings under the New Revolving Loan
Commitments or other funds available to the Borrowers;

WHEREAS, subject to the terms and conditions set forth herein, each Person party
hereto whose name is set forth on Schedule I attached hereto under the heading
"Revolving Lenders" (each such Person, a "New Revolving Lender") has agreed to
provide a New US Revolving Loan Commitment and/or a New Global Revolving Loan
Commitment in the amount or amounts set forth opposite its name on such
Schedule;
 
WHEREAS, the Borrowers have further requested that certain other provisions of
the Existing Credit Agreement and the CGA be amended as set forth herein;

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2
WHEREAS, in order to effect the foregoing refinancing (the "Refinancing
Transactions") and implement such amendments, the Borrowers and the other
parties hereto desire to amend the Existing Credit Agreement (the Existing
Credit Agreement, as so amended, being referred to as the "Amended Credit
Agreement") and the CGA as of the Amendment Effective Date (as defined below)
and to enter into certain other agreements herein, in each case on the terms and
subject to the conditions set forth herein;

NOW, THEREFORE, in consideration of the above premises and other good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the Borrowers, the Administrative Agent and the Lenders party
hereto hereby agree as follows:

SECTION 1.  Defined Terms. Capitalized terms used but not otherwise defined
herein (including in the preliminary statements hereto) have the meanings
assigned to them in the Existing Credit Agreement or the Amended Credit
Agreement, as the context may require.

SECTION 2.  New Revolving Loan Commitments.  1)Subject to the terms and
conditions set forth herein, effective as of the Amendment Effective Date, all
US Revolving Loan Commitments and all Global Revolving Loan Commitments in
effect immediately prior to the Amendment Effective Date (the "Existing
Revolving Loan Commitments") will be terminated pursuant to Section 2.09(b) of
the Existing Credit Agreement; provided, however, that the foregoing shall not
affect (1) the obligations of any Letter of Credit Issuer or any Letters of
Credit outstanding immediately prior to the Amendment Effective Date or (2) the
obligation of the Swingline Lender to make Swingline Loans pursuant to Section
2.04 of the Existing Credit Agreement or any Swingline Loans outstanding
immediately prior to the Amendment Effective Date.

(b)  Subject to the terms and conditions set forth herein, on the Amendment
Effective Date, simultaneously with the termination of the Existing Revolving
Loan Commitments pursuant to paragraph (a) above, (i) each New Revolving Lender
shall become or continue to be, as applicable, a "US Revolving Lender" and/or a
"Global Revolving Lender", a "Revolving Lender" and a "Lender" under the Amended
Credit Agreement, and shall have all the rights and obligations of a Lender
holding a US Revolving Loan Commitment and/or a Global Revolving Loan Commitment
thereunder, as the case may be, and (ii) the US Revolving Loan Commitment and/or
the Global Revolving Loan Commitment of each New Revolving Lender will be the
amount of such commitment, if any, set forth with respect to such New Revolving
Lender on Schedule I hereto.  The commitments of the New Revolving Lenders are
several, and no New Revolving Lender shall be responsible for any other New
Revolving Lender's failure to fund Revolving Loans.

(c)  Subject to the terms and conditions set forth herein, effective as of the
Amendment Effective Date, for all purposes of the Credit Documents (i) each
reference

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3
to "US Revolving Loan Commitments", "Global Revolving Loan Commitments", "Loans"
and "B/As", as the case may be, of the relevant Tranche under the Amended Credit
Agreement shall be deemed to be references to the New US Revolving Loan
Commitments and the New Global Revolving Loan Commitments of each New Revolving
Lender, and the Loans made or B/As purchased or accepted pursuant to such New
Revolving Loan Commitments, as the case may be, and (ii) all Letters of Credit
and Swingline Loans outstanding immediately prior to the Amendment Effective
Date shall continue to be Letters of Credit and Swingline Loans issued pursuant
to the Amended Credit Agreement.

(d)  On the Amendment Effective Date, each New Revolving Lender with a New US
Revolving Loan Commitment will automatically and without further action be
deemed to have acquired a participation in each Letter of Credit issued under
the Existing Credit Agreement that is outstanding on the Amendment Effective
Date in accordance with Section 2.05(d) of the Amended Credit Agreement in an
amount equal to such US Revolving Lender's US Revolving Percentage (as defined
in the Amended Credit Agreement) of the amount of each such outstanding Letter
of Credit (if any).  On the Amendment Effective Date, each New Revolving Lender
with a New US Revolving Loan Commitment will automatically and without further
action be obligated to acquire and fund participations in any Swingline Loans
outstanding (if any) on the Amendment Effective Date in accordance with the
provisions of Section 2.04(c) of the Amended Credit Agreement.  On the Amendment
Effective Date, each US Revolving Lender with Existing Revolving Loan
Commitments will cease, in such capacity, to have any obligation to acquire or
fund participations in Letters of Credit or Swingline Loans, provided that any
such US Revolving Lender that is a New Revolving Lender with a New US Revolving
Loan Commitment will be obligated to acquire and fund participations in
accordance with its US Revolving Percentage attributable to such New US
Revolving Loan Commitment as contemplated above and pursuant to Sections 2.04(c)
and 2.05(d) of the Amended Credit Agreement.  The Swingline Lender and each
Letter of Credit Issuer consents to the foregoing.

(e)  If there are any Revolving Loans outstanding immediately prior to the
Amendment Effective Date (the "Existing Revolving Loans") or any B/As
outstanding immediately prior to the Amendment Effective Date (the "Existing
B/As"), such Existing Revolving Loans and Existing B/As shall be prepaid in full
by the applicable Borrower on the Amendment Effective Date.  Such prepayment may
be financed (subject to satisfaction of applicable borrowing conditions under
Article IV of the Amended Credit Agreement (with all references in such Article
to a Credit Event being deemed to be references to this Amendment)) with the
proceeds of Revolving Loans or of purchases and acceptances of B/As of the
applicable Tranche made on such date by the New Revolving Lenders in accordance
with each such Lender's US Revolving Percentage (as defined in the Amended
Credit Agreement) or Global Revolving Percentage (as defined in the Amended
Credit Agreement), as applicable.  The New Revolving Lenders, constituting a
majority in interest of the US Revolving Lenders and of the Global Revolving
Lenders with Existing Revolving Loan Commitments (the "Existing Revolving
Lenders"), hereby waive the requirement that the applicable Borrower provide

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4
advance notice of such prepayment pursuant to Section 2.11(c) of the Existing
Credit Agreement.  On the Amendment Effective Date, the Borrowers will pay to
the Administrative Agent, for the accounts of the relevant Existing Revolving
Lenders, (A) accrued and unpaid interest on the principal amounts of their
Existing Revolving Loans being prepaid, (B) all breakage costs and other amounts
owing to each such Existing Revolving Lender pursuant to Section 2.17 of the
Existing Credit Agreement and (C) all accrued and unpaid Commitment Fees and
Letter of Credit participation fees payable pursuant to Section 2.13(a) and (b)
of the Existing Credit Agreement.  In addition, the Borrowers will on the
Amendment Effective Date prepay all Existing B/As by making the required
deposit, for the accounts of the applicable Existing Revolving Lenders, in the
Prepayment Account contemplated by Section 2.11(e) of the Amended Credit
Agreement, and notwithstanding anything to the contrary contained therein, such
deposits and any earnings thereon (to the extent not distributed to the Canadian
Borrower in accordance with such Section) will be held and applied solely for
the benefit of the Existing Revolving Lenders and payment of such B/As on the
last day of their Contract Periods.

(f)  Each New Revolving Lender, by delivering its signature page to this
Amendment on the Amendment Effective Date, shall be deemed to have agreed and
consented to the amendment of the Existing Credit Agreement as contemplated
hereby and to have acknowledged receipt of, and consented to and approved, each
Credit Document and each other document required to be delivered to, approved by
or satisfactory to, the Administrative Agent or any Lenders on the Amendment
Effective Date.

(g)  The Administrative Agent hereby consents to this Amendment and confirms
that each New Revolving Lender not already a Lender under the Existing Credit
Agreement immediately prior to the effectiveness of this Amendment is acceptable
to it.

(h)  Effective as of the Amendment Effective Date, Schedule I to the Existing
Credit Agreement is hereby amended and restated to be in the form of Schedule I
attached hereto.  Except as expressly set forth in the immediately preceding
sentence, all schedules and exhibits referred to in the Amended Credit Agreement
shall be deemed to refer to the corresponding schedules and exhibits to the
Existing Credit Agreement.

SECTION 3.  Amendment of the Existing Credit Agreement.  Effective as of the
Amendment Effective Date, the Existing Credit Agreement is amended as follows:

(a)   Schedule I of the Existing Credit Agreement is replaced by Schedule I
attached hereto.  Except as expressly set forth in the immediately preceding
sentence, all schedules and exhibits referred to in the Amended Credit Agreement
shall be the same as the corresponding schedules and exhibits to the Existing
Credit Agreement

(b)  Section 1.01 is amended by replacing the table in the definition of
"Applicable Rate" with the following table:

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5
Total Leverage Ratio
 
Eurodollar Revolving
Loans and B/A
Drawings
   
Base Rate Revolving
Loans, Canadian Base
Rate Loans and
Canadian Prime Rate
Loans
   
Commitment
Fee
 
Greater than 3.50:1.00
   
2.50
%
   
1.50
%
   
0.50
%
Less than or equal to 3.50:1.00 but greater than 2.50:1.00
   
2.25
%
   
1.25
%
   
0.40
%
Less than or equal to 2.50:1.00 but greater than 1.75:1.00
   
2.00
%
   
1.00
%
   
0.30
%
Less than or equal to 1.75:1.00 but greater than 1.00:1.00
   
1.75
%
   
0.75
%
   
0.30
%
Less than or equal to 1.00:1.00
   
1.50
%
   
0.50
%
   
0.30
%

 
(c)  Section 1.01 is amended by adding the following definitions in the
appropriate alpha numeric order:

(i) "2013 Amendment" shall mean the Amendment dated as of December 20, 2013
among the Borrowers, the Lenders party thereto and the Administrative Agent.

(ii) "2013 Amendment Effective Date" shall mean the date on which the 2013
Amendment becomes effective in accordance with its terms.

(d)  Section 1.01 is amended by revising the last two sentences of the
definition of "Global Revolving Loan Commitment" to read as follows:  "The
amount of each Global Revolving Lender's Global Revolving Loan Commitment on the
2013 Amendment Effective Date is set forth opposite such Lender's name in
Schedule I directly below the column entitled "Global Revolving Loan Commitment"
or in the Assignment and Assumption Agreement pursuant to which such Lender
shall have assumed its Global Revolving Loan Commitment, as applicable.  The
aggregate amount of the Global Revolving Lenders' Global Revolving Loan
Commitments on the 2013 Amendment Effective Date is $50,000,000.

(e)  Section 1.01 is amended by revising the definition of "Intercompany Notes"
to read as follows:

"Intercompany Notes" shall mean promissory notes, in the form of Exhibit I (or
in such other form not adverse to the interest of the Lenders and reasonably
satisfactory to the Administrative Agent), evidencing Intercompany Loans.

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(f)  Section 1.01 is amended by revising the definition of "Revolving
Availability Period" to read as follows:

"Revolving Availability Period" shall mean the period from and including the
2013 Amendment Effective Date to but excluding the earlier of (a) the Revolving
Loan Maturity Date and (b) the date of termination of both the US Revolving Loan
Commitments as provided for herein and the Global Revolving Loan Commitments as
provided for herein.

(g)  Section 1.01 is amended by revising the definition of "Revolving Loan
Maturity Date" to read as follows:

"Revolving Loan Maturity Date" shall mean August 18, 2017.

(h)  Section 1.01 is amended by revising the last two sentences of the
definition of "US Revolving Loan Commitment" to read as follows:  "The amount of
each US Revolving Lender's US Revolving Loan Commitment on the 2013 Amendment
Effective Date is set forth opposite such Lender's name in Schedule I directly
below the column entitled "US Revolving Loan Commitment" or in the Assignment
and Assumption Agreement pursuant to which such Lender shall have assumed its US
Revolving Loan Commitment, as applicable.  The aggregate amount of the US
Revolving Lenders' US Revolving Loan Commitments on the 2013 Amendment Effective
Date is $75,000,000.

(i)  Section 6.11(a) is amended by replacing the parenthetical immediately prior
to the penultimate proviso in such Section with the following:

(although (x) no Wholly-Owned Foreign Subsidiary shall be required to enter into
any Guaranty or Security Document pursuant to this Section 6.11 and (y) Equity
Interests of any Wholly-Owned Foreign Subsidiary shall not be required to be
pledged to secure US Obligations (as defined in the US Collateral and Guaranty
Agreement), in each case, to the extent that the US Collateral Agent and the US 
Borrower determines that the detriment (including as a result of the cost or tax
consequences) to any Borrower of any such action, as applicable, would be
excessive in view of the related benefits to be received by the Secured Parties)

(j)  Section 7.14 is amended by adding the phrase "(other than a Guarantor)"
after the first reference to "Subsidiary" in clause (b) thereto.

SECTION 4.   Amendment of the CGA.  On the Amendment Effective Date, Section
4.03(i) of the CGA is amended by (a) replacing the reference to "$250,000"
therein with "$750,000" and (b) replacing the reference to "March 31, 2006"
therein with "December 20, 2013".

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7
SECTION 5.   Representations and Warranties.  To induce each other party hereto
to enter into this Amendment, each Borrower hereby represents and warrants to
each other party hereto that:

(a)  this Amendment has been duly authorized, executed and delivered by each
Borrower and constitutes a legal, valid and binding obligation of each Borrower,
enforceable in accordance with its terms, except to the extent that the
enforceability hereof may be limited by applicable bankruptcy, insolvency,
reorganization, moratorium or similar laws generally affecting creditors' rights
and by equitable principles (regardless of whether enforcement is sought in
equity or at law);

(b)  the representations and warranties of each Borrower set forth in the
Amended Credit Agreement and each other Credit Document are true and correct in
all material respects with the same effect as though such representations and
warranties had been made on the Amendment Effective Date (it being understood
and agreed that any representation or warranty that by its terms is made as of a
specified date shall be true and correct in all material respects only as of
such specified date); and

(c)  on the Amendment Effective Date and immediately after giving effect to this
Amendment and the transactions contemplated hereby, no Default or Event of
Default under the Amended Credit Agreement has occurred and is continuing.

SECTION 6.  Effectiveness of Amendment.  This Amendment will become effective on
the first date (the "Amendment Effective Date") on which each of the following
conditions shall be satisfied:

(a)  the Administrative Agent (or its counsel) shall have received from (i) each
Borrower, (ii) each New Revolving Lender, (iii) existing Lenders (including New
Revolving Lenders that are existing Lenders) constituting the Required Lenders
and (iv) each Subsidiary of the US Borrower party to the CGA either (A)
counterparts of this Amendment signed on behalf of such parties or (B) written
evidence satisfactory to the Administrative Agent (which may include facsimile
or other electronic transmissions of signed signature pages) that such parties
have signed counterparts of this Amendment;

(b)  each Credit Party (other than the Foreign Credit Parties organized under
the Laws of (i) Chile, (ii) Cayman Islands and (iii) England and Wales in the
United Kingdom, except for the UK Borrower and Compass Minerals (Europe)
Limited) shall have executed and delivered to the Administrative Agent a
reaffirmation agreement ratifying all the Security Documents to which it is a
party, each in form and substance reasonably satisfactory to the Administrative
Agent;

(c)  the representations and warranties set forth in Section 5 above shall be
true and correct on and as of the Amendment Effective Date and the
Administrative Agent shall have received a certificate from each Borrower dated
the Amendment Effective Date signed by an Authorized Officer of such Borrower
certifying (i) that the representations and warranties set forth in Section 5
above are true and correct as of the

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8
Amendment Effective Date and (ii) that the requirements set forth in this
Section 6 have been satisfied as of the Amendment Effective Date;

(d)  the Administrative Agent shall have received opinions, addressed to the
Administrative Agent, the Collateral Agent and each of the Lenders and dated the
Amendment Effective Date, in each case in form and substance reasonably
satisfactory to the Administrative Agent, from (i) Latham & Watkins LLP, special
counsel to the Credit Parties, (ii) Fasken Martineau DuMoulin LLP, special
Canada counsel to the Credit Parties, (iii) DLA Piper UK LLP, special English
counsel to the Credit Parties, (iv) Allen & Overy Luxembourg, special Luxembourg
counsel to the Credit Parties, (v) McInnes Cooper, special Canada counsel to the
Credit Parties, (vi) Clifford Chance Luxembourg, special Luxembourg counsel to
the Administrative Agent, (vii) Blake, Cassels & Graydon LLP, special Canada
counsel to the Administrative Agent, (viii) Allen & Overy (UK), special English
counsel to the Administrative Agent and (ix) local counsel to the Credit Parties
in Illinois, Kansas, Louisiana, Utah and Wisconsin in the United States;1

(e)  (i) the Administrative Agent shall have received from each Credit Party
(other than the Foreign Credit Parties organized under the Laws of (i) Chile,
(ii) Cayman Islands and (iii) England and Wales in the United Kingdom, except
for the UK Borrower and Compass Minerals (Europe) Limited) a certificate, dated
the Amendment Effective Date, signed by an Authorized Officer of such Credit
Party (or, in the case of any Foreign Credit Party, an authorized signatory
thereof as permitted under applicable law and the relevant charter documents of
such Foreign Credit Party), and attested to by the secretary or any assistant
secretary of such Credit Party (or, in the case of any Foreign Credit Party,
another authorized signatory thereof as permitted under applicable law and the
relevant charter documents of such Foreign Credit Party), in substantially the
form of Exhibit C of the Existing Credit Agreement with the appropriate
insertions, together with copies of the certificate or articles of
incorporation, certificate of formation, operating agreements and by-laws (or
equivalent organizational documents) of such Credit Party (the "Organizational
Documents") and the resolutions of such Credit Party referred to in such
certificate and each of the foregoing shall be in form and substance reasonably
satisfactory to the Administrative Agent; provided that, in lieu of delivering
the Organizational Documents required above, the Borrowers may deliver a
certificate of an authorized signatory thereof certifying that the
Organizational Documents that were previously delivered to the Administrative
Agent in connection with the 2012 Amendment and Restatement Agreement (A) are
the true and correct copies of such Organizational Documents, (B) there have
been no amendments to such Organizational Documents since such delivery and (C)
are in full force and effect on the Amendment Effective Date and (ii) all
Company and legal proceedings and all instruments and agreements in connection
with the Refinancing Transactions shall be reasonably satisfactory in form and
substance to the Administrative Agent, and the Administrative Agent shall have
received all information and copies of all certificates, documents and papers,
including good standing certificates, bring-down certificates and any other

 

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1 To be updated, as necessary.

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9
records of Company proceedings and governmental approvals, if any, that the
Administrative Agent reasonably may have requested in connection therewith, such
documents and papers, where appropriate, to be certified by proper Company or
governmental authorities;
(f)  the requirements set forth in Sections 3.09, 3.10, 3.11, 3.12 and 3.13 of
the Amended Credit Agreement shall have been satisfied (with all references in
such Sections to the "2012 Restatement Effective Date" being deemed to be
references to the "Amendment Effective Date") by the prior execution and
delivery of the relevant Security Document or supplement thereof, except to the
extent that such execution and delivery is not required to have been effected on
or prior to the Amendment Effective Date pursuant to the applicable provisions
of Section 6.11 of the Amended Credit Agreement;
(g)  the Administrative Agent shall have received from the Borrowers, with
respect to each Mortgaged Property, (i) such duly executed amendment and other
modification to the Mortgage thereon as shall have been reasonably requested by
the Administrative Agent, (ii) a date-down or similar endorsement to its
Mortgage Policy insuring that the Mortgage remains a first priority lien on the
Mortgaged Property, subject only to Permitted Liens and (iii) a favorable
opinion of local counsel to the Credit Party in the state in which such
Mortgaged Property is located, in form and substance reasonably satisfactory to
the Administrative Agent, confirming that the Mortgage on the Mortgaged
Property, as amended, located in such state continues to secure the Obligations;

(h)  the repayment of all Existing Revolving Loans and the prepayment of all
Existing B/As outstanding under the Existing Credit Agreement and the payment of
accrued and unpaid interest, fees, breakage costs and other amounts owing to the
Existing Revolving Lenders, as contemplated by Section 2(e) hereof;

(i)  if any Revolving Loans are to be made or any B/As are to be purchased on
the Amendment Effective Date under the Amended Credit Agreement, the
Administrative Agent shall have received a request therefor complying with the
requirements of Section 2.03 or 2.07(c) of the Amended Credit Agreement;

(j)  in accordance with Section 2.09(c) of the Existing Credit Agreement, the
Administrative Agent shall have received, not later than 12:00 noon (New York
City time) at least two Business Days prior to the Amendment Effective Date,
written notice from the Borrowers of their intent to terminate in full the
Revolving Credit Commitments under the Existing Credit Agreement and otherwise
effect the Refinancing Transactions on the Amendment Effective Date;

(k)  the Administrative Agent shall have received all documentation and other
information required by bank regulatory authorities under the applicable "know
your customer" and anti-money laundering rules and regulations, including,
without limitation, the Patriot Act and requested at least five Business Days
prior to the Amendment Effective Date by the Administrative Agent or any New
Revolving Lender;

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10
(l)  the Administrative Agent shall have received payment from the US Borrower,
in immediately available funds, for the accounts of the New Revolving Lenders,
of the Upfront Fees referred to in Section 7 hereof; and

(m)  the Administrative Agent and its affiliates shall have received payment or
reimbursement from the Borrowers, in immediately available funds, of all costs,
fees, out‑of‑pocket expenses, compensation and other amounts then due and
payable in connection with this Amendment or pursuant to the Amended Credit
Agreement, including, to the extent invoiced, reasonable fees, disbursements and
other charges of counsel to the Administrative Agent.

The Administrative Agent shall notify the Borrowers and the Lenders of the
Amendment Effective Date, and such notice shall be conclusive and binding. 
Notwithstanding the foregoing, the amendment of the Existing Credit Agreement
and the CGA pursuant to this Amendment and the obligations of the New Revolving
Lenders to extend the New Revolving Loan Commitments shall not become effective
unless each of the foregoing conditions is satisfied at or prior to 5:00 p.m.,
New York City time, December 20, 2013 (and, in the event such conditions are not
so satisfied or waived, the New Revolving Loan Commitments shall terminate at
such time).

Notwithstanding the foregoing, if after the use by the Credit Parties of
commercially reasonable efforts to cause the conditions relating to the
collateral and guarantee matters set forth in clauses (d)(ix) and (e) hereof to
be satisfied as of the Amendment Effective Date such conditions are not
satisfied as of the Amendment Effective Date, such conditions shall not be
conditions precedent to the effectiveness of this Amendment on the Amendment
Effective Date, but shall be accomplished as promptly as practical after the
Amendment Effective Date and in any event no later than 45 days following the
Amendment Effective Date or such later date as the Administrative Agent may
agree to in its reasonable discretion.

SECTION 7.  Fees.  Each Borrower agrees to pay to the Administrative Agent, for
the account of each New Revolving Lender that delivers to the Administrative
Agent (or its counsel) an executed counterpart hereof (or a facsimile
transmission of a signed signature page of this Amendment) on or prior to 5:00
p.m., New York City time, on December [20], 2013, an upfront fee (collectively,
the "Upfront Fees") in an amount equal to 0.15% of the aggregate New Revolving
Loan Commitments of each such Lender under the New Revolving Facility.  The
Upfront Fees shall be payable on, and subject to the occurrence of, the
Amendment Effective Date.

SECTION 8.  Effect of Amendment; Certain Authorizations.  Except as expressly
set forth herein, this Amendment shall not by implication or otherwise limit,
impair, constitute a waiver of, or otherwise affect the rights and remedies of
the Lenders, the Administrative Agent, or the Lenders under the Existing Credit
Agreement, the CGA or any other Credit Document, and shall not alter, modify,
amend or in any way affect any of the terms, conditions, obligations, covenants
or agreements contained in the Existing Credit Agreement, the CGA or any other
Credit Document, all of which, as

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11
amended, supplemented or otherwise modified hereby, are ratified and affirmed in
all respects and shall continue in full force and effect.  Nothing herein shall
be deemed to entitle any Credit Party to a consent to, or a waiver, amendment,
modification or other change of, any of the terms, conditions, obligations,
covenants or agreements contained in the Amended Credit Agreement, the CGA as
amended hereby or any other Credit Document in similar or different
circumstances.  This Amendment shall constitute a Credit Document for all
purposes of the Amended Credit Agreement and the other Credit Documents.  On and
after the Amendment Effective Date, (a) any reference to the Existing Credit
Agreement in any Credit Document shall be deemed to refer to the Amended Credit
Agreement and (b) any reference to the CGA in any Credit Document shall be
deemed to refer to the CGA as amended hereby. The Lenders party hereto hereby
authorize the Administrative Agent to enter into such amendment or amendments to
the Amended Credit Agreement or any other Credit Document as shall be
appropriate, in the judgment of the Administrative Agent, to cure any ambiguity,
omission, defect or inconsistency relating to the effectuation of the
Refinancing Transactions.

SECTION 9.  Expenses. The Borrowers agree to reimburse the Administrative Agent
for its reasonable out-of-pocket expenses in connection with this Amendment,
including the reasonable fees, charges and disbursements of Cravath, Swaine &
Moore LLP.

SECTION 10.  Counterparts.  This Amendment may be executed in counterparts (and
by different parties hereto on different counterparts), each of which shall
constitute an original, but all of which when taken together shall constitute a
single contract.  Delivery of an executed counterpart of a signature page of
this Amendment by facsimile or other electronic transmission shall be effective
as delivery of a manually executed counterpart of this Amendment.

SECTION 11.  Incorporation by Reference.  Notwithstanding anything to the
contrary contained herein, the provisions of Sections 1.03, 10.1, 10.07 and
10.15 of the Amended Credit Agreement are incorporated by reference herein,
mutatis mutandis.

SECTION 12.  Headings. Section headings used herein are for convenience of
reference only, are not part of this Amendment and shall not affect the
construction of, or be taken into consideration in interpreting, this Amendment.

[Remainder of page intentionally left blank]

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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly
executed by their authorized officers as of the date first above written.
 
 
COMPASS MINERALS  INTERNATIONAL,
INC.,as US Borrower,
 
 
 
by
 
 
/s/ James D. Standen
 
 
Name: James D. Standen
 
 
Title: Treasurer

 
[Signature Page to Amendment Agreement]

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SIFTO CANADA CORP., as Canadian
Borrower,
 
 
 
by
 
 
/s/ James D. Standen
 
 
Name: James D. Standen
 
 
Title: Treasurer

 
[Signature Page to Amendment Agreement]

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SALT UNION LIMITED, as UK Borrower,
 
 
by
 
 
/s/ I.P. Gordon
 
 
Name: I.P. Gordon
 
 
Title: Director and Secretary

 
[Signature Page to Amendment Agreement]

--------------------------------------------------------------------------------

 
CAREY SALT COMPANY,
 
 
by
 
 
/s/ James D. Standen
 
 
Name: James D. Standen
 
 
Title: Treasurer

 
[Signature Page to Amendment Agreement]

--------------------------------------------------------------------------------

SOLAR RESOURCES, INC.,
 
by
/s/ James D. Standen
Name: James D. Standen
Title: Treasurer

[Signature Page to Amendment Agreement]

--------------------------------------------------------------------------------

DOVE CREEK GRAZING, LLC,
 
by
/s/ Keith Espelien
Name: Keith Espelien
Title: Manager

[Signature Page to Amendment Agreement]

--------------------------------------------------------------------------------

CLYMAN BAY RESOURCES, INC.,
 
by
/s/ James D. Standen
Name: James D. Standen
Title: Treasurer

 
[Signature Page to Amendment Agreement]

--------------------------------------------------------------------------------

 
GREAT SALT LAKE HOLDINGS, LLC,
 
 
by
 
 
/s/ James D. Standen
 
 
Name: James D. Standen
 
 
Title: Treasurer

 
[Signature Page to Amendment Agreement]

--------------------------------------------------------------------------------

 
GREAT SALT LAKE MINERALS
CORPORATION,
 
 
by
 
 
/s/ James D. Standen
 
 
Name: James D. Standen
 
 
Title: Treasurer

 
[Signature Page to Amendment Agreement]

--------------------------------------------------------------------------------

 
GSL CORPORATION,
 
 
by
 
 
/s/ James D. Standen
 
 
Name: James D. Standen
 
 
Title: Treasurer

 
[Signature Page to Amendment Agreement]

--------------------------------------------------------------------------------

 
NAMSCO INC.,
 
 
by
 
 
/s/ James D. Standen
 
 
Name: James D. Standen
 
 
Title: Treasurer

 
[Signature Page to Amendment Agreement]

--------------------------------------------------------------------------------

 
NORTH AMERICAN SALT COMPANY,
 
 
by
 
 
/s/ James D. Standen
 
 
Name: James D. Standen
 
 
Title: Treasurer

 
[Signature Page to Amendment Agreement]

--------------------------------------------------------------------------------

 
PRISTIVA INC.,
 
 
by
 
 
/s/ James D. Standen
 
 
Name: James D. Standen
 
 
Title: Treasurer

 
[Signature Page to Amendment Agreement]

--------------------------------------------------------------------------------

 
NASC NOVA SCOTIA COMPANY,
 
 
by
 
 
/s/ Cecile Petro
 
 
Name: Cecile Petro
 
 
Title: President

 
[Signature Page to Amendment Agreement]

--------------------------------------------------------------------------------

 
CMI CANADA HOLDINGS COMPANY.
 
 
by
 
 
/s/ James D. Standen
 
 
Name: James D. Standen
 
 
Title: Treasurer

 
[Signature Page to Amendment Agreement]

--------------------------------------------------------------------------------

 
GSL HOLDINGS EUROPE S.á r.l.,
 
 
by
 
 
/s/ Rodney L. Underdown
 
 
Name: Rodney L. Underdown
 
 
Title: B Manager

 
[Signature Page to Amendment Agreement]

--------------------------------------------------------------------------------

 
JPMORGAN CHASE BANK, N.A.,
individually as a Lender and the Administrative
Agent,
 
 
by
 
 
/s/ Gitanjali Pundir
 
 
Name: Gitanjali Pundir
 
 
Title: Vice President

 
[Signature Page to Amendment Agreement]

--------------------------------------------------------------------------------

SIGNATURE PAGE TO
THE COMPASS MINERALS INTERNATIONAL, INC.
AMENDMENT
 
 
 
Compass Bank, as Term Lender,  
 
By
 
 
/s/ Brandon Kelley
 
 
Name: Brandon Kelley
 
 
Title: Senior Vice President

--------------------------------------------------------------------------------

SIGNATURE PAGE TO
THE COMPASS MINERALS INTERNATIONAL, INC.
AMENDMENT
 
 
 
Lender: First Hawaiian Bank, as Term Lender,  
 
By
 
 
/s/ Susan Takeda
 
 
Name: Susan Takeda
 
 
Title: Vice President

 
 
For any Lender requiring a secong signature line:  
 
By
 
 
 
 
 
Name:
 
 
Title:

--------------------------------------------------------------------------------

SIGNATURE PAGE TO
THE COMPASS MINERALS INTERNATIONAL, INC.
AMENDMENT
 
 
 
Goldman Sachs Lending Partners LLC
as New Revolving Lender,
 
 
By
 
 
/s/ Mark Walton
 
 
Name: Mark Walton
 
 
Title: Authorized Signatory

 
 
For any Lender requiring a secong signature line:  
 
By
 
 
 
 
 
Name:
 
 
Title:

--------------------------------------------------------------------------------

SIGNATURE PAGE TO
THE COMPASS MINERALS INTERNATIONAL, INC.
AMENDMENT
 
 
 
THE HUNTINGTON NATIONAL BANK,
as Term Lender,
 
 
By
 
 
/s/ Lori Cummins-Meyer
 
 
Name: Lori Cummins-Meyer
 
 
Title: Vice President

--------------------------------------------------------------------------------

SIGNATURE PAGE TO
THE COMPASS MINERALS INTERNATIONAL, INC.
AMENDMENT
 
 
 
Name of New Revolving Lender:
Lloyds Bank plc, as New Revolving Lender,
 
 
By
 
 
/s/ Stephen Giacolone
 
 
Name: Stephen Giacolone
 
 
Title: Assistant Vice President G011

 
 
For any Lender requiring a secong signature line:  
 
By
 
 
/s/ Dennis McClellan
 
 
Name: Dennis McClellan
 
 
Title: Assistant Vice President M040

--------------------------------------------------------------------------------

SIGNATURE PAGE TO
THE COMPASS MINERALS INTERNATIONAL, INC.
AMENDMENT
 
 
 
Mizuho Bank, Ltd. as Term Lender,  
 
By
 
 
/s/ Tenya Mitsuboshi
 
 
Name: Tenya Mitsuboshi
 
 
Title: Authorized Signatory

--------------------------------------------------------------------------------

SIGNATURE PAGE TO
THE COMPASS MINERALS INTERNATIONAL, INC.
AMENDMENT
 
Name of New Revolving/ Term Lender:
PNC Bank, National Association,
as New Revolving and Term Lender.
 
 
By
 
 
/s/ David Bentzinger
 
 
Name: David Bentzinger
 
 
Title: Senior Vice President

--------------------------------------------------------------------------------

SIGNATURE PAGE TO
THE COMPASS MINERALS INTERNATIONAL, INC.
AMENDMENT
 
 
Cooperatieve Centrale Raiffeisen Boerenleenbank B.A.,
"Rabobank Nederland",  New York Branch, as New Revolving and Term Lender,
 
 
By
 
 
/s/ ROBERT M. MANDULA
 
 
Name: ROBERT M. MANDULA
 
 
Title: Managing Director

 
 
By
 
 
/s/ BERT CORUM
 
 
Name: BERT CORUM
 
 
Title: Executive Director

--------------------------------------------------------------------------------

SIGNATURE PAGE TO
THE COMPASS MINERALS INTERNATIONAL, INC.
AMENDMENT
 
 
Name of Term Lender:
 
Sumitomo Mitsui Banking Corporation,
 
as Term Lender,
 
 
By
 
 
/s/ James D. Weinstein
 
 
Name: James D. Weinstein
 
 
Title: Managing Director

--------------------------------------------------------------------------------

SIGNATURE PAGE TO
THE COMPASS MINERALS INTERNATIONAL, INC.
AMENDMENT

 
Lender: Union Bank, N.A.
 
as New Revolving and Term Lender,
 
 
By
 
 
/s/ Thomas Lass
 
 
Name: Thomas Lass
 
 
Title: Vice President

--------------------------------------------------------------------------------

SIGNATURE PAGE TO
THE COMPASS MINERALS INTERNATIONAL, INC.
AMENDMENT

 
BMO Harris Bank N.A., as Term Lender,
 
 
By
 
 
/s/ Philip Langheim
 
 
Name: Philip Langheim
 
 
Title: Managing Director

--------------------------------------------------------------------------------

SIGNATURE PAGE TO
THE COMPASS MINERALS INTERNATIONAL, INC.
AMENDMENT

 
Name of New Revolving/ Term
 
Lender: U.S. BANK NATIONAL ASSOCIATION, as New
 
Revolving and Term Lender,
 
 
By
 
 
/s/ Magnus McDowell
 
 
Name: Magnus McDowell
 
 
Title: Vice President

--------------------------------------------------------------------------------

SIGNATURE PAGE TO
THE COMPASS MINERALS INTERNATIONAL, INC.
AMENDMENT
 

 
Name of Lender: Wells Fargo Bank, NA,
 
as New Revolving and Term Lender,
 
 
By
 
 
/s/ Jeff Farrell
 
 
Name: Jeff Farrell
 
 
Title: Sr. Vice President

--------------------------------------------------------------------------------

SIGNATURE PAGE TO
THE COMPASS MINERALS INTERNATIONAL, INC.
AMENDMENT
 
 
THE BANK OF NOVA SCOTIA,
as New Revolving and Term Lender,
 
 
By
 
 
/s/ Laura Gimena
 
 
Name: Laura Gimena
 
 
Title: Director

 
 
By
 
 
/s/ Juan Pablo Jimenez
 
 
Name: Juan Pablo Jimenez
 
 
Title: Associate Director

--------------------------------------------------------------------------------

SIGNATURE PAGE TO
THE COMPASS MINERALS INTERNATIONAL, INC.
AMENDMENT
 
 
Name of Term Lender: Bank of the West,
as Term Lender,
 
 
By
 
 
/s/ Brad Conley
 
 
Name: Brad Conley
 
 
Title: Vice President

 

 
 
By
 
 
 
 
 
Name: 
 
 
Title: 

--------------------------------------------------------------------------------

SIGNATURE PAGE TO
THE COMPASS MINERALS INTERNATIONAL, INC.
AMENDMENT
 
 
Name of Term Lender: 
BOKF, N.A., d/b/a Bank of Kansas City as Term Lender,
 
 
By
 
 
/s/ Ryan W. Humphrey
 
 
Name: Ryan W. Humphrey
 
 
Title: Assistant Vice President

 

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

--------------------------------------------------------------------------------

SIGNATURE PAGE TO
THE COMPASS MINERALS INTERNATIONAL, INC.
AMENDMENT
 
 
Name of Term Lender: 
Branch Banking and Trust Corporation,
as Term Lender,
 
 
By
 
 
/s/ Max Greer
 
 
Name: Max Greer
 
 
Title: Vice President

 

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

--------------------------------------------------------------------------------

SIGNATURE PAGE TO
THE COMPASS MINERALS INTERNATIONAL, INC.
AMENDMENT
 
 
Name of New Revolving/ Term
 
Lender: Bank of America
 
as New Revolving and Term Lender,
 
 
By
 
 
/s/ Michael Bruening
 
 
Name: Michael Bruening
 
 
Title: Assistant Vice President

 

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

--------------------------------------------------------------------------------

SCHEDULE I
 
LIST OF LENDERS AND COMMITMENTS
 
Revolving Commitments as of the 2013 Amendment Effective Date
 
 
 
Revolving Credit Facilities
 
Revolving Lenders
 
US Revolving Loan Commitments
   
Global Revolving Loan Commitments
 
JPMORGAN CHASE BANK, N.A.
 
$
1,000,000.00
   
$
14,000,000.00
 
US BANK NATIONAL ASSOCIATION
 
$
14,000,000.00
   
$
0.00
 
GOLDMAN SACHS LENDING PARTNERS LLC
 
$
0.00
   
$
14,000,000.00
 
BANK OF AMERICA, N.A.
 
$
3,000,000.00
   
$
11,000,000.00
 
BANK OF NOVA SCOTIA
 
$
3,000,000.00
   
$
11,000,000.00
 
WELLS FARGO BANK, NATIONAL ASSOCIATION
 
$
13,000,000.00
   
$
0.00
 
LLOYDS BANK PLC
 
$
12,000,000.00
   
$
0.00
 
PNC BANK NATIONAL ASSOCIATION
 
$
10,000,000.00
   
$
0.00
 
RABOBANK NEDERLAND
 
$
10,000,000.00
   
$
0.00
 
UNION BANK, N.A.
 
$
9,000,000.00
   
$
0.00
 
TOTAL
 
$
75,000,000.00
   
$
50,000,000
 

Term Loan Commitments as of the 2013 Amendment Effective Date
 
Tranche D Term Lenders
 
Tranche D Term
Commitment
 
BANK OF AMERICA, N.A.
 
$
19,700,000.00
 
UNION BANK, N.A.
 
$
18,715,000.00
 
WELLS FARGO BANK, NA
 
$
18,715,000.00
 
THE BANK OF NOVA SCOTIA
 
$
18,715,000.00
 
PNC BANK, NATIONAL ASSOCIATION
 
$
18,715,000.00
 
U.S. BANK NATIONAL ASSOCIATION
 
$
17,730,000.00
 
FIRSTMERIT BANK, N.A.
 
$
17,730,000.00
 
FIFTH THIRD BANK
 
$
16,745,000.00
 
COMPASS BANK
 
$
16,745,000.00
 
BRANCH BANKING AND TRUST COMPANY
 
$
16,745,000.00
 
BOKF, NA D/B/A BANK OF KANSAS CITY
 
$
14,837,341.77
 
BMO HARRIS BANK, N.A.
 
$
12,805,000.00
 
SUMITOMO MITSUI BANKING CORPORATION
 
$
12,805,000.00
 
THE HUNTINGTON NATIONAL BANK
 
$
12,805,000.00
 
MIZUHO CORPORATE BANK, LTD.
 
$
12,805,000.00
 
UMB BANK, N.A.
 
$
12,805,000.00
 
MEGA INTERNATIONAL COMMERCIAL BANK CO., LTD. NEW YORK BRANCH
 
$
12,805,000.00
 
BANK OF THE WEST
 
$
12,374,841.77
 
MERCANTIL COMMERCEBANK, N.A.
 
$
11,695,316.46
 
COÖPERATIEVE CENTRALE RAIFFEISEN-BOERENLEENBANK B.A., “RABOBANK NEDERLAND”, NEW
YORK BRANCH
 
$
9,850,000.00
 
HUA NAN COMMERCIAL BANK
 
$
9,850,000.00
 
E. SUN COMMERCIAL BANK LTD., LOS ANGELES BRANCH
 
$
9,850,000.00
 
CHANG HWA COMMERCIAL BANK LOS ANGELES BRANCH
 
$
9,850,000.00
 
SABADELL UNITED BANK, N.A.
 
$
9,850,000.00
 
ARMED FORCES BANK, N.A.
 
$
9,850,000.00
 
BANK OF TAIWAN
 
$
9,850,000.00
 
SUMITOMO MITSUI TRUST BANK, LIMITED
 
$
6,912,280.70
 
FIRST HAWAIIAN BANK
 
$
5,417,500.00
 
JPMORGAN CHASE BANK, N.A.
 
$
3,922,719.30
 
TOTAL
 
$
381,195,000.00
 

 
 

--------------------------------------------------------------------------------