Document:

EXHIBIT 4.1

     

    

    FIRST SUPPLEMENTAL INDENTURE

    

    

    FIRST SUPPLEMENTAL INDENTURE to the Indenture (as defined below) (the “Supplemental Indenture”), dated as of October 30, 2019, is made by and among Foresight Energy LLC, a Delaware limited liability
        company (the “Company”), Foresight Energy Finance Corporation, a Delaware corporation (“Co-Issuer, and together with the Company, the “Issuers”), the guarantors party hereto (the “Guarantors”) and Wilmington Trust, National Association, as trustee (in such capacity, the “Trustee”),
        and amends the Indenture, dated as of March 28, 2017, among the Issuers, the Guarantors and the Trustee (as amended and supplemented from time to time, the “Indenture”). 

     

    RECITALS:

     

    WHEREAS, pursuant to the Indenture, the Issuers have issued $425,000,000 in aggregate principal amount of 11.50% Second Lien Senior Secured Notes due 2023 (the “Notes”);

    

    

    WHEREAS, the Issuers have requested consents of the Holders of the Notes to amend the terms of the Indenture as set forth in Article I herein (the “Proposed
          Amendments”);

     

    WHEREAS, pursuant to Section 9.02 of the Indenture, the written consent of Holders of at least a majority in aggregate principal amount of the outstanding Notes (the “Requisite Consents”) is
        sufficient to adopt the Proposed Amendments set forth in Article I;

    

    

    WHEREAS, the holders of at least a majority in aggregate principal amount of the Notes outstanding (which excludes any Notes owned by the Issuers or their affiliates) have validly tendered consents and not validly withdrawn their
        consents to the adoption of the Proposed Amendments effected by this Supplemental Indenture in accordance with the provisions of the Indenture;

     

    WHEREAS, having received the Requisite Consents for all of the Proposed Amendments, the Issuers and the Guarantors desire to amend the Indenture as provided herein;

    

    

    WHEREAS, the Issuers have delivered to the Trustee, pursuant to Section 9.02 of the Indenture, an Officer’s Certificate stating that the Issuers have received the Requisite Consents, and have provided copies of such consents to the
        Trustee;

    

    

    WHEREAS, the Issuers have also delivered to the Trustee, pursuant to Sections 7.02(b), 9.02 and 9.05 of the Indenture, (i) a resolution of the Board of Directors of the Company authorizing the execution of this Supplemental Indenture,
        and (ii) an Officer’s Certificate and an Opinion of Counsel, each stating that the execution of this Supplemental Indenture is authorized or permitted by the Indenture and that all conditions precedent to the execution and delivery of this
        Supplemental Indenture have been satisfied; and

    

    

    
      
        

    

     

    WHEREAS, all other conditions and requirements necessary to make this Supplemental Indenture a valid, binding and legal instrument enforceable in accordance with its terms have been performed and
        fulfilled by the parties hereto, and the execution and delivery thereof have been in all respects duly authorized by the parties hereto.

     

    NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties mutually covenant and agree for the equal and ratable benefit of
        the Holders of the Notes as follows:

     

    ARTICLE I

    AMENDMENTS

     

    Section 1.01.  Amendments to Indenture.

    

    

    
      
        	

              	(i)	
                Section 6.01(b) of the Indenture is hereby amended and restated in its entirety to read as follows:

              

      

    

    

    

    “(b) the Issuers default in the payment of interest on any Note when the same becomes due and payable, and the default continues for a period of 90 days;”

    

    

    
      
        	

              	(ii)	
                Section 4.03(d) of the Indenture is hereby amended and restated in its entirety to read as follows:

              

      

    

    “(d) So long as any Notes are outstanding, except for the fiscal period ended September 30, 2019, the Company will also: (a) not
      later than 10 Business Days after providing the information required by Section 4.03(a)(1) hereof, hold a publicly accessible conference call to discuss such information for the relevant fiscal period; and (b) issue a press release to an
      internationally recognized wire service no fewer than three Business Days prior to the date of the conference call required by the foregoing clause (a) of this Section 4.03(d), announcing the time and date of such conference call and either including
      all information necessary to access the call or directing Holders of the Notes, prospective investors, broker dealers and securities analysts to contact the appropriate person at the Issuers to obtain such information.”

    ARTICLE II

    MISCELLANEOUS

     

    Section 2.01.  Effectiveness.  This Supplemental Indenture shall become effective upon the execution and delivery of the Supplemental Indenture by the parties hereto.

    Section 2.02.  Confirmation.  Except as expressly amended hereby, the Indenture is in all respects ratified and confirmed and all the terms, conditions and provisions thereof shall 

    
      
        

    

    remain in full force and effect. For the avoidance of doubt,
        this Supplemental Indenture shall not impair or affect the contractual right of any Holder of a Note or Notes to receive any principal payment or interest payment on such Holder’s Note or Notes, on or after the Stated Maturity thereof, or to
        institute suit for the enforcement of any such payment. Upon the execution and delivery of this Supplemental Indenture by the Issuers, the Guarantors and the Trustee, this Supplemental Indenture shall form a part of the Indenture for all purposes,
        and every Holder of Notes heretofore or hereafter authenticated and delivered shall be bound hereby.  Any and all references to the Indenture, whether within the Indenture or in any notice, certificate or other instrument or document, shall be
        deemed to include a reference to this Supplemental Indenture (whether or not made), unless the context shall otherwise require.

    Section 2.03.  Counterparts.  The parties may sign any number of copies of this Supplemental Indenture.  Each signed copy shall be an original, but all of them together represent the same
        agreement.  The exchange of copies of this Supplemental Indenture and of signature pages by facsimile, .pdf transmission or other electronic means shall constitute effective execution and delivery of this Supplemental Indenture for all purposes. 
        Signatures of the parties hereto transmitted by facsimile or .pdf transmission or other electronic means shall be deemed to be their original signatures for all purposes.

    Section 2.04.  Capitalized Terms.  Capitalized terms used herein without definition shall have the meanings assigned to them in the Indenture.

    

    

    Section 2.05.  GOVERNING LAW.  THIS SUPPLEMENTAL INDENTURE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

    

    

    Section 2.06.  Effect of Headings.  The section headings herein are for convenience only and shall not affect the construction hereof.

    

    

    Section 2.07.  Acceptance by the Trustee.  The Trustee accepts the amendments to the Indenture effected by this Supplemental Indenture and agrees to execute the
        trusts created by the Indenture as hereby amended, but only upon the terms and conditions set forth in the Indenture; provided, however, that to the extent the
        Requisite Consents of Holders of Notes to any amendment effected by or delivered in connection with this Supplemental Indenture are determined by a court of competent jurisdiction to have not been validly obtained in accordance with the Indenture
        or applicable laws, such amendment shall not be deemed to have occurred.

    

    

    Section 2.08.  Trustee Disclaimer.  The recitals contained herein and the statements made in any Officer’s Certificate shall be taken as the statements of the
        Issuers, and the Trustee assumes no responsibility for their correctness, and none of the recitals contained herein or the statements made in any Officer’s Certificate are intended to or shall be construed as statements made or agreed to by the
        Trustee.  The Trustee makes no representations as to the validity or sufficiency of this Supplemental Indenture or the consequences of any amendment provided herein.

    
      
        

    

    

    

    IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly executed and attested, all as of the
      date first above written.

    

    

    	 	
            ISSUERS:

          	 
	 	 	 	 
	 	
            FORESIGHT ENERGY LLC, as Issuer

          	 
	 	 	 	 
	 	 	 	 
	 	
            By:

          	/s/ Robert D. Moore 	 
	 	 	Name: Robert D. Moore	 
	 	 	Title: President and Chief Executive Officer	 
	 	
            

            

          	 
	 	 	 	 
	 	
            FORESIGHT ENERGY FINANCE CORPORATION, as Co-Issuer

          	 
	 	 	 	 
	 	 	 	 
	 	
            By:

          	 /s/ Robert D. Moore	 
	 	 	Name: Robert D. Moore	 
	 	 	Title: President and Chief Executive Officer	 

    

    

    

    

    
       

      

      [Signature Page – First Supplemental Indenture]

    

    
      
        

    

    

    

    	 	
            GUARANTORS:

          	 
	 	 	 	 
	 	
            ADENA RESOURCES, LLC

          	 
	 	
            AKIN ENERGY LLC

          	 
	 	
            AMERICAN CENTURY MINERAL LLC

          	 
	 	
            AMERICAN CENTURY TRANSPORT LLC

          	 
	 	
            COAL FIELD CONSTRUCTION COMPANY LLC

          	 
	 	
            COAL FIELD REPAIR SERVICES LLC

          	 
	 	
            FORESIGHT COAL SALES LLC

          	 
	 	
            FORESIGHT ENERGY EMPLOYEE SERVICES CORPORATION

          	 
	 	
            FORESIGHT ENERGY LABOR LLC

          	 
	 	
            FORESIGHT ENERGY SERVICES LLC

          	 
	 	
            HILLSBORO TRANSPORT LLC

          	 
	 	
            LD LABOR COMPANY LLC

          	 
	 	
            LOGAN MINING LLC

          	 
	 	
            M-CLASS MINING, LLC

          	 
	 	
            MACH MINING, LLC

          	 
	 	
            MACOUPIN ENERGY LLC

          	 
	 	
            MARYAN MINING LLC

          	 
	 	
            OENEUS LLC D/B/A SAVATRAN LLC

          	 
	 	
            SENECA REBUILD LLC

          	 
	 	
            SITRAN LLC

          	 
	 	
            SUGAR CAMP ENERGY, LLC

          	 
	 	
            TANNER ENERGY LLC

          	 
	 	
            VIKING MINING LLC

          	 
	 	
            WILLIAMSON ENERGY, LLC

          	 
	 	 	 	 
	 	 	 	 
	 	
            By:

          	/s/ Robert D. Moore 	 
	 	 	Name: Robert D. Moore	 
	 	 	Title: President and Chief Executive Officer	 
	 	
            

            

          	 
	 	
            

            

          	 

    

    

    

    

    [Signature Page – First Supplemental Indenture]

    
      
        

    

    

    

    	 	
            TRUSTEE:

          	 
	 	 	 	 
	 	
            WILMINGTON TRUST, NATIONAL ASSOCIATION

          	 
	 	 	 	 
	 	 	 	 
	 	
            By:

          	
            /s/ Nedine P. Sutton

          	 
	 	 	Name: Nedine P. Sutton	 
	 	 	Title: Vice President	 
	 	
            

            

          	 	 
	 	
            

            

          	 	 
	 	 	 	 

    

    

    

    

    

    

    [Signature Page – First Supplemental Indenture]Exhibit

Exhibit 10.3

SCHEDULE OF COMPENSATION FOR 
NON-EMPLOYEE DIRECTORS
(ADOPTED AUGUST 26, 2019)

This schedule describes the compensation payable by Cree, Inc. (the "Company") to individuals who are not employed by the Company but serve as members of the Company's Board of Directors.  The compensation consists of cash and equity compensation components as described below.  In addition, the Company will pay or reimburse directors for reasonable expenses incurred in performing the duties of the director in accordance with the Company's business expense reimbursement policy and procedures.  This schedule is not intended to create any contractual obligation with any director and may be amended by the Company at any time.
Cash Compensation
Quarterly retainer for indicated role:
	
				
	Member of the Board of Directors
	$
	17,500
	

	Chairman of the Board of Directors
	$
	15,000
	

	Chair of the Audit Committee
	$
	7,500
	

	Chair of the Compensation Committee
	$
	5,000
	

	Chair of the Governance & Nominations Committee
	$
	2,500
	

	Member of the Audit Committee
	$
	3,750
	

	Member of the Compensation Committee
	$
	2,500
	

	Member of the Governance & Nominations Committee
	$
	1,250
	

		
	1.
	Each non-employee director will be paid the retainer listed above for membership on the Board of Directors and for each other role in which the director serves (the Chairman of the Board will not be paid for any Committee membership).  The retainer will be earned on the first day of the fiscal quarter on which the director serves in the indicated role.  If a director is elected or appointed to the role after the first day of the fiscal quarter, a portion of the retainer, prorated based on the number of days remaining in the quarter, will be earned on the day on which the director's election or appointment is effective.  No adjustment will be made nor any repayment due in the event that a director does not serve in the indicated role for the remainder of the quarter.

		
	2.
	Retainers are in lieu of meeting fees except as provided in this paragraph. Unless another compensation arrangement is put in place at the time of special committee formation, in the event that a non-employee director is appointed to serve on a Board committee not listed above, the director will earn a fee of $1,000 for each meeting of the committee attended, or $2,000 for each meeting attended if serving as Chair or acting Chair of the committee.

		
	3.
	Retainers and any meeting fees earned will be paid promptly following the first day of each fiscal quarter.  Non-employee directors may elect to receive Company stock in lieu of retainers and meeting fees, and to defer all or a portion of retainers and meeting fees earned, pursuant to the Non-Employee Director Stock Compensation and Deferral Program while such plan is in effect.

Equity Compensation
		
	1.
	Each non-employee director then serving on the Board who has been nominated for re-election at the next annual meeting of shareholders will be granted on the first business day of September restricted stock units to acquire shares of the Company's common stock. The number of restricted stock units to be granted will be determined by dividing $180,000 by the 30-day average closing stock price of the Company’s common stock ending one trading day prior to the August meeting of the Compensation Committee.  The restricted stock units will be granted pursuant to the Company's 2013 Long-Term Incentive Compensation Plan.  The restricted stock units vest in full on the first anniversary of the grant date, provided that the director is then serving as a member of the Board of Directors or as an employee of the Company or other Employer under the Plan.

		
	2.
	If a non-employee director is first elected to the Board after the first business day of September, the director will be granted restricted stock units as provided above, except that the restricted stock units will vest in three equal 

installments on each of the first, second and third anniversaries of the grant date, provided that the director is then serving as a member of the Board of Directors or as an employee of the Company or other Employer under the Plan.
		
	3.
	The restricted stock unit awards described above will be awarded only if recommended by the Compensation Committee and approved by the Governance and Nominations Committee on or before the grant date.  Awards under this schedule will be made pursuant to the form of award agreement as approved by the Compensation Committee from time to time.

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