Document:

Exhibit

EXHIBIT 10.1

AMENDMENT TO EMPLOYMENT AGREEMENT
 
THIS AMENDMENT (this “Amendment”), dated May 8, 2017, effective as of November 17, 2016, is made by and between VISHAY PRECISION GROUP, INC. a Delaware corporation (the “Company”) and WILLIAM CLANCY (the “Executive”).
WHEREAS, the Company and the Executive are parties to an employment agreement, dated November 17, 2010, as amended (the “Employment Agreement”); 
WHEREAS, Section 8.5 of the Employment Agreement provides that the Company and the Executive may amend the Employment Agreement by mutual agreement in writing; and 
WHEREAS, the Company and the Executive desire to amend the Employment Agreement as set forth herein (the “Amendment”).
NOW THEREFORE, in consideration of the premises and the mutual benefits to be derived herefrom and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:
1.    Section 6.2(a)(ii) of the Employment Agreement is hereby amended in its entirety to read as follows:
“Continued Payment of Executive’s then current Base Salary from the Date of Termination for the eighteen month period following the Date of Termination, to be paid in accordance with the Company’s standard payroll practices as in effect from time to time.”
2.    Section 6.2(a)(v) shall be added to the Employment Agreement, as follows:
“Monthly payments equal to the applicable monthly premium for health continuation coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”) for eighteen months following the Date of Termination, or if earlier, the date upon which the Executive receives health insurance coverage from another employer.”
3.    Except as set forth in this Amendment, all other terms and conditions of the Employment Agreement, as amended, shall remain unchanged and in full force and effect.
4.    This Amendment may be executed in one or more counterparts, each of which shall for all purposes be deemed to be an original and all of which shall constitute the same instrument.

[signature page follows]

IN WITNESS WHEREOF, the Company has caused this Amendment to be executed by its duly authorized officer, and Executive has executed this Amendment, in each case on the 8 day of May, 2017.

VISHAY PRECISION GROUP, INC.
By:    /s/ Roland. B. Desilets
Roland B. Desilets                    
Title:    Vice President and General Counsel                    

WILLIAM CLANCY
/s/ William M. ClancyExhibit

EXHIBIT 10.2

AMENDMENT TO EMPLOYMENT AGREEMENT
 
THIS AMENDMENT (this “Amendment”), dated May 8, 2017, effective as of November 17, 2016, is made by and between VISHAY PRECISION GROUP, INC. a Delaware corporation (the “Company”) and ROLAND B. DESILETS (the “Executive”).
WHEREAS, the Company and the Executive are parties to an employment agreement, dated January 1, 2016 (the “Employment Agreement”); 
WHEREAS, Section 8.5 of the Employment Agreement provides that the Company and the Executive may amend the Employment Agreement by mutual agreement in writing; and 
WHEREAS, the Company and the Executive desire to amend the Employment Agreement as set forth herein (the “Amendment”).
NOW THEREFORE, in consideration of the premises and the mutual benefits to be derived herefrom and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:
1.    Section 4.2(a) of the Employment Agreement is hereby amended in its entirety to read as follows: 
“Beginning with the Company’s 2017 fiscal year and for each fiscal year thereafter during the Term, Executive shall be eligible to earn an annual performance bonus (“Bonus”), payable in cash, with a target equal to 40% of Base Salary (the “Target Bonus”) with a minimum Bonus of 0% of Base Salary and a maximum Bonus of 80% of Base Salary. The actual amount of Bonus payable to Executive shall be determined by the Compensation Committee, and shall be based upon the Company’s achievement of certain corporate and/or individual performance goals to be established by the Compensation Committee in its sole discretion (the “Performance Goals”).”
2.    Section 4.2(b) of the Employment Agreement is hereby amended in its entirety to read as follows: 
“Beginning with the Company’s 2017 fiscal year and for each fiscal year thereafter during the Term, Executive shall be eligible to earn a Bonus equal to 26.7% of Base Salary if 80% of the Performance Goals for such fiscal year are achieved.  In addition, the amount of Bonus payable to Executive shall increase by 0.67% of Base Salary for each additional 1% of the Performance Goals which are achieved for such year; provided, that for each 1% of the Performance Goals achieved in excess of 100%, the amount of Bonus payable to Executive shall increase by 0.8% of Base Salary.  During the Term and in any event, (i) the maximum level of Bonus which Executive shall be eligible to earn is 80% of Base Salary; (ii) no Bonus shall be payable if less than 80% of the Performance Goals are achieved; and (iii) no Bonus in excess of the maximum level of 80% of Base Salary shall be payable to the Executive if more than 150% of the Performance Goals are achieved.
3.    Section 6.2(a)(ii) of the Employment Agreement is hereby amended in its entirety to read as follows:
“Continued Payment of Executive’s then current Base Salary from the Date of Termination for the eighteen month period following the Date of Termination, to be paid in accordance with the Company’s standard payroll practices as in effect from time to time.”

4.    Section 6.2(a)(v) shall be added to the Employment Agreement, as follows:
“Monthly payments equal to the applicable monthly premium for health continuation coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”) for eighteen months following the Date of Termination, or if earlier, the date upon which the Executive receives health insurance coverage from another employer.”
5.    Except as set forth in this Amendment, all other terms and conditions of the Employment Agreement shall remain unchanged and in full force and effect.
6.    This Amendment may be executed in one or more counterparts, each of which shall for all purposes be deemed to be an original and all of which shall constitute the same instrument.
[signature page follows]

IN WITNESS WHEREOF, the Company has caused this Amendment to be executed by its duly authorized officer, and Executive has executed this Amendment, in each case on the 8 day of May, 2017.

VISHAY PRECISION GROUP, INC.

By:    /s/ William M. Clancy
William M. Clancy                        
Title:    Executive Vice President and Chief Financial Officer                    

ROLAND B. DESILETS
/s/ Roland B. DesiletsExhibit

EXHIBIT 10.1

SEVENTH AMENDMENT
TO AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT

THIS SEVENTH AMENDMENT TO AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT (this "Amendment") is entered into as of March 14, 2017, by and among the Lenders party hereto, WELLS FARGO CAPITAL FINANCE, LLC, a Delaware limited liability company, as the agent for the Lenders (in such capacity, "Agent"), Century Aluminum Company, a Delaware corporation ("Century"), CENTURY ALUMINUM OF SOUTH CAROLINA, INC. (successor in interest to Berkeley Aluminum, Inc.), a Delaware corporation ("Century South Carolina"), Century Aluminum of West Virginia, Inc., a Delaware corporation ("Century West Virginia"), CENTURY ALUMINUM OF KENTUCKY GENERAL PARTNERSHIP, a Kentucky general partnership ("Century of Kentucky GP"), NSA general partnership, a Kentucky general partnership ("NSA"), and CENTURY ALUMINUM SEBREE LLC, a Delaware limited liability company ("Century Sebree"; and together with Century, Century South Carolina, Century West Virginia, Century of Kentucky GP and NSA, each a "Borrower" and collectively the "Borrowers"). 
WHEREAS, Borrowers, Agent, and Lenders are parties to that certain Amended and Restated Loan and Security Agreement dated as of May 24, 2013 (as amended, modified or supplemented from time to time, the "Loan Agreement");
WHEREAS, Borrowers, Agent and Lenders have agreed to amend the Loan Agreement, subject to the terms and conditions contained herein.
NOW THEREFORE, in consideration of the premises and mutual agreements herein contained, the parties hereto agree as follows:
1.Defined Terms.  Unless otherwise defined herein, capitalized terms used herein shall have the meanings ascribed to such terms in the Loan Agreement.

2.Amendments to Loan Agreement.  Subject to the satisfaction of the conditions set forth in Section 4 below and in reliance upon the representations and warranties of Borrowers set forth in Section 5 below, the Loan Agreement is hereby amended as follows: 

(a)The defined term "Eligible Account" set forth in Appendix A of the Loan Agreement is hereby amended to amend and restate clause (xv) in its entirety to read as follows:

(xv)    the Account is with respect to an Account Debtor (other than Glencore, Alcoa Corporation or Southwire Company, which are subject to the limitations set forth below), whose total Accounts owing to Borrowers exceed 20% (such percentage, as applied to a particular Account Debtor, being subject to adjustment by Agent in its Reasonable Credit Judgment) of all Eligible Accounts; the Account is with respect to Glencore to the extent its total Accounts owing to Borrowers exceed 50% (such percentage, as applied to Glencore, being subject to adjustment by Agent in its Reasonable Credit Judgment) of all Eligible Accounts; the Account is with respect to Alcoa Corporation to the extent its total Accounts owing to Borrowers exceed the lesser of $16,500,000 and 30% (such percentage, as applied to Alcoa Corporation, being subject to adjustment by Agent in its Reasonable Credit Judgment)

of all Eligible Accounts; the Account is with respect to Southwire Company to the extent its total Accounts owing to Borrowers exceed the lesser of $22,000,000 and 40% (such percentage, as applied to Southwire Company, being subject to adjustment by Agent in its Reasonable Credit Judgment) of all Eligible Accounts; except in any such case that Accounts owing by any such Account Debtor shall only be excluded from Eligible Accounts to the extent of the excess of such applicable concentration limit; provided, however, that, in each case, the amount of Eligible Accounts that are excluded because they exceed the foregoing applicable concentration limit shall be determined by Agent based on all of the otherwise Eligible Accounts prior to giving effect to any eliminations based upon the foregoing concentration limit; or
3.Ratification; Other Agreements;.  

(a)This Amendment, subject to satisfaction of the conditions provided below, shall constitute an amendment to the Loan Agreement and all of the Loan Documents as appropriate to express the agreements contained herein.  In all other respects, the Loan Agreement and the Loan Documents shall remain unchanged and in full force and effect in accordance with their original terms.

(b)Upon and after the execution of this Amendment by each of the parties hereto, each reference in the Loan Agreement to "this Agreement", "hereunder", "hereof" or words of like import referring to the Loan Agreement, and each reference in the other Loan Documents to "the Loan Agreement", "thereunder", "thereof" or words of like import referring to the Loan Agreement, shall mean and be a reference to the Loan Agreement as modified hereby.  This Amendment shall constitute a Loan Document.

(c) The execution, delivery and effectiveness of this Amendment shall not, except as expressly provided herein, operate as a waiver of any right, power or remedy of any Lender or the Agent under any of the Loan Documents.

4.Conditions to Effectiveness.  This Amendment shall become effective as of the date hereof and upon the satisfaction of the following conditions precedent:

(a)Agent shall have received a copy of this Amendment executed by each Borrower, Agent, Issuing Lender and Majority Lenders, together with the consent and reaffirmation attached hereto executed by each Guarantor; and 

(b)no Default or Event of Default shall exist on the date hereof or as of the date of the effectiveness of this Amendment.

5.Representations and Warranties.  In order to induce Agent and Lenders to enter into this Amendment, each Borrower hereby represents and warrants to Agent and Lenders, after giving effect to this Amendment:

(a)the representations and warranties set forth in each of the Loan Documents are true and correct in all material respects on and as of the Closing Date and on and as of the date hereof with the same effect as though made on and as of the date hereof (except to the extent such representations and warranties by their terms expressly relate to an earlier date, in which case such representations and warranties shall have been true and correct, in all material respects, as of such earlier date);

 - 2 -

(b)no Default or Event of Default exists; and

(c)the execution, delivery and performance of this Amendment has been duly authorized by all requisite corporate or other relevant action on the part of such Borrower.

6.Miscellaneous.

(a)Expenses.  Borrowers agree to pay on demand all reasonable and documented out-of-pocket costs and expenses of Agent (including legal fees and expenses of outside counsel for Agent) in connection with the preparation, negotiation, execution, delivery and administration of this Amendment and all other instruments or documents provided for herein or delivered or to be delivered hereunder or in connection herewith.  All obligations provided in this Section 6(a) shall survive any termination of this Amendment and the Loan Agreement as amended hereby.

(b)Governing Law.  This Amendment shall be a contract made under and governed by the internal laws of the State of New York.

(c)Counterparts.  This Amendment may be executed in any number of counterparts, and by the parties hereto on the same or separate counterparts, and each such counterpart, when executed and delivered, shall be deemed to be an original, but all such counterparts shall together constitute but one and the same Amendment.

[Signature Pages Follow]

- 3 - 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their respective officers thereunto duly authorized and delivered as of the date first above written.
 
                                               BORROWERS:

	
					
	 
	CENTURY ALUMINUM COMPANY
	 

	 
	By:
	 
/s/ MICHELLE HARRISON
	 

	 
	 
	Name:
	Michelle Harrison
	 

	 
	 
	Title:
	Treasurer
	 

	
					
	 
	CENTURY ALUMINUM OF SOUTH CAROLINA, INC. (successor in interest to Berkeley Aluminum, Inc.)
	 

	 
	By:
	 
/s/ MICHELLE HARRISON
	 

	 
	 
	Name:
	Michelle Harrison
	 

	 
	 
	Title:
	Treasurer
	 

	
					
	 
	CENTURY ALUMINUM OF WEST VIRGINIA, INC.
	 

	 
	By:
	 
/s/ MICHELLE HARRISON
	 

	 
	 
	Name:
	Michelle Harrison
	 

	 
	 
	Title:
	Treasurer
	 

	
					
	 
	CENTURY ALUMINUM OF KENTUCKY GENERAL PARTNERSHIP
	 

	 
	By: Metalsco, LLC, Managing General Partner
	 

	 
	By:
	 
/s/ MICHELLE HARRISON
	 

	 
	 
	Name:
	Michelle Harrison
	 

	 
	 
	Title:
	Treasurer
	 

Signature Page to Seventh Amendment to Amended and Restated Loan and Security Agreement

	
					
	 
	NSA GENERAL PARTNERSHIP
	 

	 
	By: Century Kentucky, Inc., Managing General Partner
	 

	 
	By:
	 
/s/ MICHELLE HARRISON
	 

	 
	 
	Name:
	Michelle Harrison
	 

	 
	 
	Title:
	Treasurer
	 

	
					
	 
	CENTURY ALUMINUM SEBREE LLC
	 

	 
	By:
	 
/s/ MICHELLE HARRISON
	 

	 
	 
	Name:
	Michelle Harrison
	 

	 
	 
	Title:
	Treasurer
	 

Signature Page to Seventh Amendment to Amended and Restated Loan and Security Agreement

	
					
	 
	AGENT AND LENDERS:
	 

	 
	WELLS FARGO CAPITAL FINANCE, LLC,
as Agent, as Issuing Lender and as a Lender
	 

	 
	By:
	 
/s/ BRANDI WHITTINGTON
	 

	 
	 
	Name:
	Brandi Whittington
	 

	 
	 
	Title:
	VP, Authorized Signer
	 

Signature Page to Seventh Amendment to Amended and Restated Loan and Security Agreement

	
					
	 
	CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as a Lender
	 

	 
	By:
	 
/s/ ROBERT HETU
	 

	 
	 
	Name:
	Robert Hetu
	 

	 
	 
	Title:
	Authorized Signatory
	 

	 
	 
	 
	 
	 

	 
	By:
	 /s/ SZYMON ORDYS
	 

	 
	 
	Name:
	Szymon Ordys
	 

	 
	 
	Title:
	Authorized Signatory
	 

Signature Page to Seventh Amendment to Amended and Restated Loan and Security Agreement

	
					
	 
	BNP PARIBAS, as a Lender
	 

	 
	By:
	 
/s/ MAXENCE LEONARD
	 

	 
	 
	Name:
	Maxence Leonard
	 

	 
	 
	Title:
	Metals & Mining
	 

	 
	 
	 
	 
	 

	 
	By:
	 /s/ THOMAS LEGREE
	 

	 
	 
	Name:
	Thomas Legree
	 

	 
	 
	Title:
	Director - Metals & Mining
	 

Signature Page to Seventh Amendment to Amended and Restated Loan and Security Agreement

CONSENT AND REAFFIRMATION

Each of the undersigned (collectively, the "Guarantors") hereby (i) acknowledges receipt of a copy of the foregoing Seventh Amendment to Amended and Restated Credit Agreement (the "Amendment"; terms defined therein and used, but not otherwise defined, herein shall have the meanings assigned to them therein); (ii) consents to each Borrower's execution and delivery thereof; (iii) acknowledges and agrees to the terms of the Amendment as if it were a signatory thereto; and (iv) except as specifically provided therein, affirms that nothing contained therein shall modify in any respect whatsoever its respective guaranty of the obligations of each Borrower to Agent and Lenders pursuant to the terms of the Guaranty Agreements executed in favor of Agent and Lenders, and reaffirms that each Guaranty Agreement is and shall continue to remain in full force and effect.  Although Guarantors have been informed of the matters set forth herein and have acknowledged and agreed to same, each Guarantor understands that Agent and Lenders have no obligation to inform Guarantors of such matters in the future or to seek any Guarantor’s acknowledgment or agreement to future amendments or waivers, and nothing herein shall create such a duty.
[signature page follows]

	
					
	 
	METALSCO, LLC,
	 

	 
	a Georgia limited liability company
	 

	 
	By:
	 
/s/ MICHELLE HARRISON
	 

	 
	 
	Name:
	Michelle Harrison
	 

	 
	 
	Title:
	Treasurer
	 

	
					
	 
	SKYLINER, LLC,
	 

	 
	a Delaware limited liability company
	 

	 
	By:
	 
/s/ MICHELLE HARRISON
	 

	 
	 
	Name:
	Michelle Harrison
	 

	 
	 
	Title:
	Treasurer
	 

	
					
	 
	CENTURY KENTUCKY, INC.,
	 

	 
	a Delaware corporation
	 

	 
	By:
	 
/s/ MICHELLE HARRISON
	 

	 
	 
	Name:
	Michelle Harrison
	 

	 
	 
	Title:
	Treasurer
	 

	
					
	 
	CENTURY MARKETER, LLC,
	 

	 
	a Delaware limited liability company
	 

	 
	By:
	 
/s/ MICHELLE HARRISON
	 

	 
	 
	Name:
	Michelle Harrison
	 

	 
	 
	Title:
	Treasurer
	 

Signature Page to Consent and Reaffirmation

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00270-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00270-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00270-of-00352.parquet"}]]