Document:

ex10-5.htm

    Exhibit
10.5

     

    AMENDMENT

     

    April 16,
2009

     

    Union
Bank, N.A.

    445 South
Figueroa Street, 15th
Floor

    Los
Angeles, CA 90071

    Attn:  Mr.
Alex Wernberg

     

    Dear
Alex:

     

    Reference
is made to the Financing Agreement, dated as of April 22, 2005 (as amended,
modified or supplemented as of the date hereof, the “Financing
Agreement”), among KCP&L Greater Missouri Operations Company
(formerly Aquila, Inc.) (the “Company”),
as Borrower, the banks named therein, and Union Bank, N.A. (formerly Union Bank
of California, N.A.), as Agent and as Lender.  The Company submits
this Amendment to amend the Financing Agreement as described
below.  Capitalized terms used but not defined herein have the
meanings given to them in the Financing Agreement.

     

    Section
1.                             Request for
Amendment.  The Financing Agreement provides that the
Commitment Termination Date shall occur on April 22, 2009, unless terminated
earlier pursuant to Sections 3.3 or 10.2 thereof.  The Company
requested that this date certain be extended to July 22, 2009.  In
consideration for such extension of the Commitment Termination Date and the
other amendments set forth herein, the Company has agreed that the Base Rate
Margin and the LIBOR Rate Margin be amended as set forth herein.  The
Company hereby requests that the Lenders, effective as of the date set forth
above (the “Effective
Date”) and subject to the satisfaction of the conditions set forth in
Section 3 below, consent to the following:

     

    (a)        Replace
the definition of “Base Rate Margin” in
Section 1.1 of the Financing Agreement with the following:

     

    “Base Rate Margin
means one percent (1.0%).”

     

    (b)        Replace
the definition of “Commitment” in
Section 1.1 of the Financing Agreement with the following:

     

    “Commitment means each
Lender’s commitment in accordance with this Agreement to make Revolving Loans,
in the amount of its pro rata share of the Revolving Line of Credit set forth
opposite such Lender’s name on Schedule II plus or minus amounts assigned to or
by such Lender in any Assignment and Transfer Agreement, as such Commitment may
be reduced or adjusted from time to time in accordance with this
Agreement.”

     

    
      

    

    (c)           Replace
the definition of “Commitment Termination
Date” in Section 1.1 of the Financing Agreement with the
following:

     

    “Commitment Termination
Date means the earliest of (i) July 22, 2009 and (ii) the date of
termination of the Revolving Line of Credit pursuant to Section 3.3 or Section
10.2.”

     

    (d)        Replace
the definition of “LIBOR Rate Margin” in
Section 1.1 of the Financing Agreement with the following:

     

    “LIBOR Rate Margin
means two percent (2.0%).”

     

    (e)        Replace
the definition of “Required Lenders” in
Section 1.1 of the Financing Agreement with the following:

     

    “Required Lenders
means, on any date of determination, Lenders who, collectively on such date (i)
hold outstanding Revolving Loans in the amount in excess of 78.34% of the
aggregate outstanding Revolving Loans and (ii) if no Revolving Loans are
outstanding, hold aggregate Commitments under this Agreement in an amount in
excess of 78.34% of the Revolving Line of Credit.  Determination of
those Lenders satisfying the criteria specified above for action by the Required
Lenders shall be made by the Agent and shall be conclusive and binding on all
parties absent manifest error.”

     

    (f)        Replace
the definition of “Revolving Line of
Credit” in Section 1.1 of the Financing Agreement with the
following:

     

    “Revolving Line of
Credit means the aggregate Commitments of the Lenders to make loans and
advances pursuant to Section 3 of this Agreement, in the aggregate amount of
$50,000,000.”

     

    (g)        Delete
in its entirety Exhibit G to the Financing Agreement.

     

    (h)        Add
in its entirety Schedule II attached hereto to the Financing
Agreement.

     

    Section
2.       Up-Front
Fee.  On the Effective Date, the Company shall pay to the Agent
a fee equal to $187,500 (the
“Up-Front
Fee”).  The Up-Front Fee shall be allocated by the Agent pro
rata among the Lenders in accordance with their respective
Commitments.

     

    Section
3.       Representations
and Warranties; Conditions Precedent.  The Company hereby
represents and warrants to you that, as of the Effective Date of this Amendment
(this “Amendment”),
each of the representations and warranties made by the Company in or pursuant to
Section 7 of the Financing Agreement will be true and correct in all material
respects as if made on and as of the Effective Date, and no Event of Default
will have occurred and be continuing.  For purposes of this Amendment,
references in Section 7 of the Financing Agreement to “this Agreement’,
“hereunder”, “hereof” and words of like import referring to the Financing
Agreement will be deemed to be a reference to this Amendment and the
Financing

    
      

    

    Agreement,
as modified hereby, and references to “date hereof” will be deemed to be a
reference to the date of this Amendment.

    

    Notwithstanding
anything herein, in no event shall this Amendment become effective unless and
until the Company has paid, or caused to be paid, to the Agent (i) the Up Front
Fee for the benefit of each Lender and (ii) any and all other fees and expenses
incurred in connection with this Amendment.

    

    Section
4.       Expenses.  The
Company also agrees to pay all reasonable out of pocket expenses (including
reasonable fees and expenses of external counsel) incurred by the Agent in
connection with (i) the preparation, execution, negotiation, and delivery of
this Amendment, (ii) the modification, amendment, and administration of this
Amendment, and (iii) the enforcement of this Amendment.

    

    Section
5.       Fees
Non-refundable.  The Company agrees that, once paid, the fees
payable hereunder shall not be refundable.  All fees payable hereunder
shall be paid in U.S. Dollars and in immediately available funds and shall be in
addition to the reimbursement of out-of-pocket expenses referenced in the
immediately preceding paragraph.

    

    Section
6.        Execution and
Delivery.  The Company requests that each Lender consenting to
this Amendment evidence such consent by executing and returning at least four
counterparts of this Amendment to Union Bank, N.A., 445 South Figueroa Street,
15th
Floor, Los Angeles, CA, Attention: Ms. Susan Johnson (fax no. 213-236-4096) no
later than 10 a.m. (Pacific time) on April 16, 2009.

     

    Section
7.        Miscellaneous.  The
execution, delivery and effectiveness of this Amendment will not, except as
expressly provided herein, operate as a waiver of any right, power or remedy of
any Lender under the Financing Agreement, nor constitute a waiver of any other
provision of the Financing Agreement.  This Amendment is subject to
the provisions of Section 12.2 of the Financing Agreement.  This
Amendment will be binding on the parties hereto and their respective successors
and permitted assigns under the Financing Agreement.

     

    This
Amendment may be executed in any number of counterparts and by any combination
of the parties hereto in separate counterparts, each of which counterparts shall
constitute an original and all of which taken together shall constitute one and
the same instrument.  This Amendment shall be governed by, and
construed in accordance with, the laws of the State of New York.

     

    
      

    

    Very
truly yours,

     

    

     

    KCP&L
GREATER MISSOURI OPERATIONS COMPANY, as Borrower

     

    

     

    

    By: /s/
Michael W. Cline

    Name:  Michael W.
Cline

    Title:    Vice
President – Investor Relations andTreasurer

    
      

    

    The
undersigned parties to the Financing Agreement

    hereby
consent to the requests described above:

    

     

    UNION
BANK, N.A.,

    as Agent
and Lender

    

     

    By: /s/
Susan K. Johnson

           Name:   Susan
K. Johnson

           Title:     Vice
President

    

     

    
      

    

    BANK OF
AMERICA, N.A.,

    Individually
as a Lender

    

     

    By: /s/
Marina Kheylik

           Name:   Marina
Kheylik

           Title:     AVP,
Client Manager

    
      

    

    

    SCHEDULE
II

     

    COMMITMENTS

     

    

     

    
      
        
          
            
              
                
                  
                    
                      
                        
                          	
                                  Lender

                                	
                                  Commitment

                                
	
                                  Union
      Bank, N.A.

                                	
                                  $39,166,666.65

                                
	
                                  Bank
      of America, N.A.

                                	
                                  $10,833,333.35

                                
	
                                  Total:

                                	
                                  $50,000,000.00EXHIBIT
10.3

    

    FIRST
AMENDMENT TO

    RURBAN
FINANCIAL CORP.

    AMENDED
AND RESTATED

    SUPPLEMENTAL
EXECUTIVE RETIREMENT PLAN AGREEMENT

    FOR
MARK A. KLEIN

    

    This
First Amendment to the Rurban Financial Corp. Amended and Restated Supplemental
Executive Retirement Plan Agreement for Mark A. Klein (“Agreement”) is made
effective as of this 20th day of
April, 2009.

    

    WHEREAS,
Rurban Financial Corp. (“RFC”), The State Bank and Trust Company (“Subsidiary”)
and Mark A. Klein (“Executive”) previously entered into the Agreement on
November 19, 2008 for the purpose of providing the Executive with the benefits
described therein; and

    

    WHEREAS,
RFC, the Subsidiary and the Executive wish to amend the Agreement to increase
the Executive’s Early Retirement Benefit and Retirement Benefit (each as defined
in the Agreement).

    

    NOW,
THEREFORE, in consideration of foregoing, the services performed in the past and
to be performed in the future, as well as of the mutual promise and covenants
herein contained, the parties agree as follows:

    

    
      	
              1. 

            	
              Section
      3.1 of the Agreement is hereby deleted in its entirety and the following
      is substituted therefor:

            

    

    

    3.1           RETIREMENT BENEFIT. If the
Executive Terminates on or after his Retirement Date, the Corporation shall pay
the Executive a Retirement Benefit equal to twenty percent (20%) of his Annual
Direct Salary.  Payment of the Retirement Benefit shall commence on
the first day of the month following the date of Termination and shall be
payable in substantially equal monthly installments for a period of one hundred
eighty (180) months.

    

    
      	
              2. 

            	
              Section
      3.2 of the Agreement is hereby deleted in its entirety and the following
      is substituted therefor:

            

    

    

    3.2           EARLY RETIREMENT
BENEFIT.  If the Executive Terminates prior to his Retirement
Date, provided that the Executive has at least five (5) Years of Service, the
Executive shall be entitled to receive an Early Retirement Benefit based on his
age on the date of Termination equal to the percentage of his Annual Direct
Salary as set forth below:

    

    
      	
              Age

            	 	
              Percentage

            	 
	 
      	 	 	 
	
              At
      least age fifty-five (55) but less than age sixty (60)

            	 	 	10	%
	 
      	 	 	 	 
	
              At
      least age sixty (60) but less than age sixty-five (65)

            	 	 	15	%
	 
      	 	 	 	 
	
              Age
      sixty-five (65)

            	 	 	20	%

    

     

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

     

    Payment
of the Early Retirement Benefit shall be made at the same time and in the same
form as described in Section 3.1.

    

    
      	
              3. 

            	
              The
      first sentence of the second full paragraph of Section 5 of the Agreement
      is hereby deleted in its entirety and the following is substituted
      therefor:

            

    

    

    If the
Internal Revenue Service subsequently and finally decides that the amount of
compensation and benefits (including after the reduction applied under this
Section 5) will generate Excise Taxes on compensation and benefits (other than
those amounts described in Sections 6.9 and 6.10), the Executive will
immediately remit an additional amount to the Change Entity equal to the
difference between the amount paid (other than those amounts described in
Sections 6.9 and 6.10) and minimum amount necessary to avoid the imposition of
Excise Taxes.

    

    IN WITNESS WHEREOF, the
parties hereto, intending to be legally bound hereby, have caused this First
Amendment to be duly executed in their respective names and, in the case of RFC
and the Subsidiary, by their authorized representatives, as of the date first
set forth above.

     

    
      	RURBAN
      FINANCIAL CORP.	 	THE
      STATE BANK AND TRUST COMPANY
	 	 
      	 	 	 
      
	 	 
      	 	 	 
      
	By:	
              /s/
      Kenneth A. Joyce

            	 	By:	
              /s/
      Kenneth A. Joyce

            
	 	 
      	 	 	 
      
	 	
              Date:   April
      20, 2009

            	 	 	
              Date:   April
      20, 2009

            
	 	 
      	 	 	 
      
	 	 
      	 	 	
              EXECUTIVE

            
	 	 
      	 	 	 
      
	 	 
      	 	 	
              /s/
      Mark A. Klein

            
	 	 
      	 	 	
              Mark
      A. Klein

            
	 	 	 	 	 
	 	 
      	 	 	
              Date:   April
      20, 2009

            
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 

    

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