Document:

exv4w1

EXHIBIT
4.1

SECOND AMENDMENT TO CREDIT AGREEMENT

     SECOND AMENDMENT TO CREDIT AGREEMENT (this “Second Amendment”), dated as of November
12, 2009, among EXIDE TECHNOLOGIES, a Delaware corporation (the “U.S. Borrower”), each
Domestic Subsidiary of the U.S. Borrower set forth on the signature pages hereto (the “U.S. ABL
Borrowers”), EXIDE GLOBAL HOLDING NETHERLANDS C.V., a limited partnership organized under the
laws of The Netherlands (the “European Borrower”, and together with the U.S. Borrower and
the U.S. ABL Borrowers, the “Borrowers”), the Lenders party hereto and DEUTSCHE BANK AG NEW
YORK BRANCH, as Administrative Agent (in such capacity, the “Administrative Agent”). Unless
otherwise indicated, all capitalized terms used herein and not otherwise defined shall have the
respective meanings provided such terms in the Credit Agreement referred to below.

W I T N E S S E T H :

     WHEREAS, the Borrowers, the Lenders and the Administrative Agent are parties to a Credit
Agreement, dated as of May 15, 2007 (as amended, restated, modified and/or supplemented to, but not
including, the date hereof, the “Credit Agreement”); and

     WHEREAS, subject to the terms, conditions and agreements herein set forth, the parties hereto
have agreed to amend the Credit Agreement as herein provided;

     NOW, THEREFORE, it is agreed:

I. Amendments to Credit Agreement.

     1. Section 9.04A(iv) of the Credit Agreement is hereby amended by deleting the text
“$25,000,000” appearing in said Section and inserting the text “$50,000,000” in lieu thereof.

II. Miscellaneous Provisions.

     1. In order to induce the Lenders to enter into this Second Amendment, each of the Borrowers
hereby represents and warrants that (i) no Default or Event of Default exists as of the Second
Amendment Effective Date (as defined below) both immediately before and after giving effect to this
Second Amendment and (ii) all of the representations and warranties contained in the Credit
Agreement or the other Credit Documents are true and correct in all material respects on the Second
Amendment Effective Date both immediately before and after giving effect to this Second Amendment,
with the same effect as though such representations and warranties had been made on and as of the
Second Amendment Effective Date (it being understood that any representation or warranty made as of
a specific date shall be true and correct in all material respects as of such specific date).

 

 

     2. This Second Amendment is limited as specified and shall not constitute a modification,
acceptance or waiver of any other provision of the Credit Agreement or any other Credit Document.

     3. This Second Amendment may be executed in any number of counterparts and by the different
parties hereto on separate counterparts, each of which counterparts when executed and delivered
shall be an original, but all of which shall together constitute one and the same instrument. A
complete set of counterparts shall be lodged with the U.S. Borrower and the Administrative Agent.

     4. THIS SECOND AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE
CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAW OF THE STATE OF NEW YORK.

     5. This Second Amendment shall become effective on the date (the “Second Amendment
Effective Date”) when each of the following conditions shall have been satisfied:

     (i) each of the Borrowers and Lenders constituting the ABL Required Lenders shall have
signed a counterpart hereof (whether the same or different counterparts) and shall have
delivered (including by way of facsimile or other electronic transmission) the same to White
& Case LLP, 1155 Avenue of the Americas, New York, NY 10036 Attention: May Yip (facsimile
number: 212-354-8113 / e-mail address: myip@whitecase.com); and

     (ii) the Borrower shall have paid to the Administrative Agent for the account of
each ABL Lender which has executed and delivered to the Administrative Agent (or its
designee) a counterpart hereof at or prior to 5:00 P.M. (New York City time) on November
12, 2009, a non-refundable cash fee (the “Amendment Fee”) in Dollars in an amount
equal to 5 basis points (0.05%) on an amount equal to the Revolving Loan Commitment of
such ABL Lender as in effect on the Second Amendment Effective Date (immediately prior to
the occurrence thereof). The Amendment Fee shall not be subject to counterclaim or
set-off, or be otherwise affected by, any claim or dispute relating to any other matter.

     6. From and after the Second Amendment Effective Date, all references in the Credit Agreement
and each of the other Credit Documents to the Credit Agreement shall be deemed to be references to
the Credit Agreement, as modified hereby.

* * *

– 2 –

 

     IN WITNESS WHEREOF, the parties hereto have caused their duly authorized officers to execute
and deliver this Amendment as of the date first above written.

	 	 	 	 	 
	 	EXIDE TECHNOLOGIES, as the U.S. Borrower

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 
	 	EXIDE GLOBAL HOLDING NETHERLANDS C.V.,

  as the European Borrower

By: Exide Technologies

       its general partner

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 
	 	DIXIE METALS COMPANY, as a U.S. ABL

  Borrower

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 
	 	GNB BATTERY TECHNOLOGIES JAPAN,

  INC., as a U.S. ABL Borrower

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 
	 	REFINED METALS CORPORATION, as a U.S.

  ABL Borrower

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	EXIDE ILLINOIS, INC., as a U.S. ABL Borrower

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 
	 	EXIDE DELAWARE LLC, as a U.S. ABL Borrower

By: Exide Technologies, its sole manager

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 
	 	RBD LIQUIDATION, LLC, as a U.S. ABL Borrower

By: Exide Technologies, its sole manager

	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	DEUTSCHE BANK AG NEW YORK BRANCH,

  as Administrative Agent

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 
	 	SIGNATURE PAGE TO THE SECOND AMENDMENT TO CREDIT AGREEMENT,
DATED AS OF THE DATE FIRST WRITTEN ABOVE, AMONG EXIDE
TECHNOLOGIES, EXIDE GLOBAL HOLDING NETHERLANDS C.V., VARIOUS
LENDERS AND DEUTSCHE BANK AG NEW YORK BRANCH, AS
ADMINISTRATIVE AGENT

	 	 	 	 	 
	 	Name of Institution:

 	 
	 	 	 
	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:exv10w1

Exhibit 10.1

AMENDMENT TO AMENDED AND RESTATED EMPLOYMENT AGREEMENT

(KELLY W. GEORGE)

     THIS AMENDMENT TO AN AMENDED AND RESTATED EMPLOYMENT AGREEMENT is made and entered into as of
the 28th day of January, 2010, by and between Mackinac Financial Corporation, a Michigan
corporation which is a registered bank holding company (hereinafter referred to as the “Company”)
and Kelly W. George (hereinafter referred to as “Employee”).

     WHEREAS, the Company and Employee previously entered into an Amended and Restated Employment
Agreement dated as of December 21, 2006 (“Employment Agreement”);

     WHEREAS, the Company has elected to participate in the Troubled Assets Relief Capital Purchase
Program (“TARP”) established by the Emergency Economic Stabilization Act of 2008 (“EESA”) and
amended by the American Recovery and Reinvestment Act of 2009 (“ARRA”) in order to strengthen the
capital position of the Company;

     WHEREAS, the Company and Employee amended the Employment Agreement on April 21, 2009 to comply
with the ARRA Executive Compensation Standards and to limit the Company’s right to terminate
Employee;

     WHEREAS, the employment period under the Employment Agreement will terminate on January 31,
2010; and

     WHEREAS, the Company and Employee wish to extend the employment period and to modify the
Employee’s salary terms.

     NOW THEREFORE, in consideration of the mutual promises and covenants set forth herein, and for
other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto agree as follows:

	 	1.	 	Section 2 of the Employment Agreement is hereby amended, effective as of
February 1, 2010, to read as follows:

“2. Term of Employment. The employment of Employee shall be for the period commencing on
February 1, 2010 and ending on January 31, 2012, subject to earlier termination or renewal
as provided in this Agreement (the initial two-year employment period and any extensions
thereof shall be the “Employment Period”). The Employment Period shall be automatically
extended for subsequent two-year periods, subject to the terms of this Agreement, unless
either party gives written notice to the other not to extend the Employment Period at least
90 days prior to the expiration of the then existing Employment Period.”

 

 

	 	2.	 	Section 2(a) of the Employment Agreement is hereby amended to read as follows:

          “(a) salary of not less than $250,000 per year (to be reviewed annually by the Company
Board), payable at the intervals at which other executive officers of the Company and Bank
are paid;”

     3. Except as expressly amended herein, the Employment Agreement, as amended on April 21,
2009, remains unchanged and continues in full force and effect.

MACKINAC FINANCIAL CORPORATION

	 	 	 	 	 	 	 
	BY:

	 	/s/ Paul D. Tobias
	 	 	 	Date: 1/28/10
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	Name:

	 	Paul D. Tobias	 	 	 	 
	 
	 	 	 	 	 	 
	Its:

	 	Chairman and Chief Executive Officer	 	 	 	 
	 
	 	 	 	 	 	 
	EMPLOYEE
	 	 	 	 
	 
	 	 	 	 	 	 
	/s/ Kelly W. George	 	 	 	 
	 	 	 	 	 
	 
	 	 	 	 	 	 
	Name:

	 	Kelly W. George
	 	 	 	Date: 1/28/10

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