Document:

Exhibit 10.1

 

COMMITMENT INCREASE AGREEMENT

 

December 17, 2021

 

JPMorgan Chase Bank, N.A., as
Administrative Agent

500 Stanton Christiana Road

NCC 5, Floor 1

Newark, DE 19713-2107

Attention: Loan & Agency
Services Group

 

Ladies and Gentlemen:

 

We refer to the Senior Secured Revolving Credit Agreement
dated as of February 11, 2021 (as amended, modified or supplemented from time to time, the “Credit Agreement”; the
terms defined therein being used herein as therein defined) among Golub Capital BDC, Inc. (the “Borrower”), the Lenders
party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent for said Lenders. You have advised us that the Borrower has
requested in a letter dated December 17, 2021 (the “Increase Request”) from the Borrower to the Administrative Agent
that the aggregate amount of the Commitments be increased on the terms and subject to the conditions set forth herein.

 

A. Commitment Increase. Pursuant to Section 2.07(e)
of the Credit Agreement, each of Comerica Bank (“Comerica”) and Capital One, National Association (“Capital
One” and together with Comerica, the “Assuming Lenders”), hereby agrees to make Commitments in the amount
set forth opposite the name of such Assuming Lender, as applicable, listed in Schedule I hereto pursuant to the instruction of the Administrative
Agent, such Commitments to be effective as of the Increase Date (as defined in the Increase Request); provided that the Administrative
Agent shall have received a duly executed officer’s certificate from the Borrower, dated the Increase Date, in substantially the
form of Exhibit I hereto. Pursuant to Section 2.07(e)(i)(C) of the Credit Agreement, the Administrative Agent and the Issuing Bank hereby
consent to the Assuming Lenders making the Commitments in the amount specified in the Increase Request and in Schedule I hereto.

 

B. Confirmation of Assuming Lenders. Each
Assuming Lender (i) confirms that it has received a copy of the Credit Agreement and the other Loan Documents, together with copies of
the financial statements referred to therein and such other documents and information as it has deemed appropriate to make its own credit
analysis and decision to enter into this Commitment Increase Agreement; (ii) agrees that it will, independently and without reliance upon
the Administrative Agent or any other Lender or Agent and based on such documents and information as it shall deem appropriate at the
time, continue to make its own credit decisions in taking or not taking action under the Credit Agreement; and (iii) acknowledges and
agrees that, from and after the Increase Date, the Commitments set forth opposite the name of such Assuming Lender listed in Schedule
I hereto shall be included in its Commitment and its Commitments and be governed for all purposes by the Credit Agreement and the other
Loan Documents.

 

C. Counterparts. This Commitment Increase
Agreement 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 to this Commitment Increase Agreement by telecopy or other electronic transmission shall be effective as delivery of a manually executed
counterpart of this Commitment Increase Agreement.

 

D. Governing Law. This Commitment Increase
Agreement shall be construed in accordance with and governed by the law of the State of New York.

 

     

     

    

 

	 	Very truly yours,

 

	 	ASSUMING LENDER

 

	 	COMERICA BANK
	 	 
	 	By: 	/s/ Robert Wilson
	 		Name: Robert Wilson
	 		Title: Senior Vice President

 

	 	CAPITAL ONE, NATIONAL ASSOCIATION
	 	 
	 	By: 	/s/ Alex Dennis
	 		Name: Alex Dennis
	 		Title: Director

  

     

     

    

 

	Accepted and agreed:	 
	 	 
	GOLUB CAPITAL BDC, INC.	 
	 	 
	By: 	/s/ Christopher C. Ericson	 
	 	Name: Christopher C. Ericson	 
	 	Title: Chief Financial Officer	 

 

	Acknowledged:	 
	 	 
	JPMORGAN CHASE BANK, N.A., as Administrative Agent and Issuing Bank	 
	 	 
	By:	/s/ Matthew D. Griffith	 
	 	Name: Matthew D. Griffith	 
	 	Title: Managing Director	 

 

     

     

    

 

SCHEDULE I

 

	Assuming Lender	Multicurrency Commitment
	Comerica Bank	$50,000,000
	Capital One, National Association	$100,000,000Exhibit 10.1

    

   

    

  

    
    EMPLOYMENT AGREEMENT

    

    

    Amendment No. 1

    

    

    THIS AMENDMENT NO. 1 (this "Amendment") to the Employment
      Agreement entered into as of December 15, 2021 (the "Effective Date") by and among City Bank, Texas (the "Company") and Curtis Griffith (the "Executive"), and South Plains Financial, Inc. (the "Parent" and together with the Company and the Executive, the "Parties") (such agreement being the "Employment Agreement"), is made by the parties as follows.

    

    

    WHEREAS, the Company, the Parent, and the Executive are currently parties to the Employment Agreement;

    

    

    WHEREAS, the Parties desire to amend Section 3(c) of the Employment Agreement in the manner reflected herein; and

    

    

    WHEREAS, the Compensation Committee of the Board of Directors of the Parent recommended and the Board of Directors of the Parent approved this Amendment to the Employment Agreement in the manner reflected herein.

    

    

    NOW, THEREFORE, the parties hereby agree to amend the Employment Agreement as follows:

    

    

    1.          Annual Equity Awards.  Section 3(c) of the Employment Agreement is amended in its entirety and replaced to read as follows:

    

    

    Annual Equity Awards.  The Parent shall grant to the Executive, on an annual basis, an annual incentive stock option award with the shares subject to such option having a grant date fair value approximately equal to
        thirty-five percent (35%) of the Base Salary ("Stock Option Award"), and an annual grant of restricted stock units in an amount equal to $125,000 divided by the fair
        market value of the underlying stock as of the date of grant ("RSU Award"), subject to the terms and conditions set forth in the award agreements in substantially the form
        attached hereto as Exhibit A and Exhibit B.  The Stock Option Award grant shall occur January  of each fiscal year and
        shall contain a vesting schedule that is no less favorable than a vesting period of four (4) years, with twenty-five percent (25%) vesting upon the first anniversary of the date of grant and the remained vesting pro rata on a monthly basis over the
        next three years.  The RSU Award grant shall also occur in January of each fiscal year and shall contain a vesting schedule of one (1) year.

    

    

    [SIGNATURES ON NEXT PAGE]

    

      
        

    

    
    IN WITNESS WHEREOF, the Parties have executed this Amendment effective as of the Effective Date.

    

    

    	
            EXECUTIVE:

          	 	
            CITY BANK, TEXAS:

          
	 	 	 	 	 
	
            Signature:

          	
            /s/ Curtis Griffith

          	 	
            Signature:

          	
            /s/ Cory T. Newsom

          

    

    

    	
            Print Name:

          	
            Curtis Griffith

          	 	
            Its:

          	
            President and CEO

          

    

    

    	
            Date:

          	
            12-15-2021

          	 	
            Date:

          	
            12-15-2021

          

    

    

    	
            SOUTH PLAINS FINANCIAL, INC.:

          	 
	 	 	 
	
            Signature:

          	
            /s/ Cory T. Newsom

          	 

    

    

    	
            Its:

          	
            President

          	 

    

    

    	
            Date:

          	
            12-15-2021

          	 

              

    

    

      Page 2 of 2

      
        

    

    
     EXHIBIT A

      

     

      

    AMENDMENT NO. 1

    TO THE EMPLOYMENT AGREEMENT

    OF CURTIS GRIFFITH

    

    

    Form of Incentive Stock Option Award

     

    (Previously filed with the Securities and Exchange Commission)

    

      
      

        A - 1

        
          

      

    

    
       EXHIBIT B

      

       

        

    

    AMENDMENT NO. 1

    TO THE EMPLOYMENT AGREEMENT

    OF CURTIS GRIFFITH

    

    

    Form of Restricted Stock Unit Award

     

    (Previously filed with the Securities and Exchange Commission)

    

      

    

    B-1Exhibit 10.2

  

   

    

  
    EMPLOYMENT AGREEMENT

    

    

    Amendment No. 1

    

    

    THIS AMENDMENT NO. 1 (this "Amendment") to the Employment Agreement entered into as of December 15, 2021 (the "Effective Date") by and
      among City Bank, Texas (the "Company") and Cory T. Newsom (the "Executive"), and South Plains Financial, Inc. (the "Parent" and
      together with the Company and the Executive, the "Parties") (such agreement being the "Employment Agreement"), is made by the parties as follows.

    

    

    WHEREAS, the Company, the Parent,
      and the Executive are currently parties to the Employment Agreement;

    

    

    WHEREAS, the Parties desire to
      amend Sections 3(b), 3(c), 3(e) and Attachment 1 of the Employment Agreement in the manner reflected herein; and

    

    

    WHEREAS, the Compensation
      Committee of the Board of Directors of the Parent recommended and the Board of Directors of the Parent approved this Amendment to the Employment Agreement in the manner reflected herein.

    

    

    NOW, THEREFORE, the parties
      hereby agree to amend the Employment Agreement as follows:

    

    

    1.          Annual Bonus.  Section 3(b) of the Employment Agreement is amended in its entirety and replaced to read as follows:

    

    

    Annual Bonus.  For each
      calendar year during the Term, the Executive shall be eligible for a performance-based cash bonus, measured against the criteria set forth in Attachment
          1 (or such other criteria as may be mutually agreed upon by the Executive and the Parent Board), with a target of fifty percent (50%) of the Executive's Base Salary (the "Annual Target Bonus"), and a maximum not exceeding seventy-five percent (75%) of the Executive's Base Salary.

    

    

    The Executive shall also be eligible for an additional performance-based cash bonus measured the criteria set forth
      in Attachment 1 (or such other criteria as may be mutually agreed upon by the Executive and the Parent Board), with an award opportunity of
      twenty-five percent (25%) of the Executive's Base Salary.

    

    

    To the extent the performance criteria are satisfied, such bonuses will be considered earned as of December 31 of
      the calendar year to which the bonus is attributable, and will be paid in a lump sum no later than March 15th of the calendar year that immediately follows the calendar year to which the bonus is attributable.

     

    

    

      
        

    

    
    2.          Annual Equity Awards.  Section 3(c) of the Employment Agreement is amended in its
          entirety and replaced to read as follows:

    

    

    Annual Equity Awards. 
      The Parent shall grant to the Executive, on an annual basis, an annual incentive stock option award with the shares subject to such option having a grant date fair value approximately equal to thirty-five percent (35%) of the Base Salary ("Stock Option Award"), and an annual grant of restricted stock units in an amount equal to $250,000 divided by the fair market value
      of the underlying stock as of the date of grant ("RSU Award"), subject to the terms and conditions set forth in the award
      agreements in substantially the form attached hereto as Exhibit A and

    Exhibit B. 
      The Stock Option Award grant shall occur January of each fiscal year and shall contain a vesting schedule that is no less favorable than a vesting period of four (4) years, with twenty-five percent (25%) vesting upon the first anniversary of the date
      of grant and the remained vesting pro rata on a monthly basis over the next three years.  The RSU Award grant shall also occur January of each fiscal year and shall contain a vesting schedule of one (1) year.

    

    

    3.          Vacation; Sick Leave.  Section 3(e) of the Employment Agreement is amended in its
          entirety and replaced to read as follows:

    

    

    Vacation; Sick Leave. 
      The Executive shall be entitled to annual paid vacation in accordance with the Employer’s policy applicable to senior executives, but in no event less than six (6) weeks per calendar year (as prorated for partial years), which vacation may be taken
      at such times as the Executive elects with due regard to the needs of the Employer.  The Executive shall be entitled to annual paid sick leave in accordance with the Employer’s policy applicable to senior executives; provided, however, that the
      number of days of annual paid sick leave afforded to the Executive may not be reduced below the number in effect on the Effective Date without the Executive’s prior written consent.  At the end of each calendar year, all such unused and accrued paid
      sick leave shall be paid in cash.

    

    

    [SIGNATURES ON NEXT PAGE]

      

    

    

      Page 2 of 3

      
        

    

    
    IN WITNESS WHEREOF,
      the Parties have executed this Amendment effective as of the Effective Date.

    

    

    	
            EXECUTIVE:

          	 	
            CITY BANK, TEXAS:

          
	 	 	 	 	 
	
            Signature:

          	
            /s/ Cory Newsom

          	 	
            Signature:

          	
            /s/ Curtis Griffith

          

    

    

    	
            Print Name:

          	
            Cory Newsom

          	 	
            Its:

          	
            Chairman

          

    

    

    	
            Date:

          	
            12-15-2021

          	 	
            Date:

          	
            12-15-2021

          

     

    	
            SOUTH PLAINS FINANCIAL, INC.:

          	 
	 	 	 
	
            Signature:

          	
            /s/ Curtis Griffith

          	 

    

    

    	
            Its:

          	
            Chairman and CEO

          	 

    

    

    	
            Date:

          	
            12-15-2021

          	 

    

    

    

      Page 3 of 3

      
        

    

    
    
      EXHIBIT A

       

    

    AMENDMENT NO. 1

    TO THE EMPLOYMENT AGREEMENT

    OF CORY T. NEWSOM

    

    

    Form of Incentive Stock Option Award

     

    (Previously filed with the Securities and Exchange Commission)

     

      

    

      A-1

      
        

    

    
    
      EXHIBIT B

       

    

    AMENDMENT NO. 1

    TO THE EMPLOYMENT AGREEMENT

    OF CORY NEWSOM

    

    

    Form of Restricted Stock Unit Award

     

    (Previously filed with the Securities and Exchange Commission)

     

      

    

      B-1

      
        

    

    
      ATTACHMENT 1

       

    

    AMENDMENT NO. 1

    TO THE EMPLOYMENT AGREEMENT

    OF CORY NEWSOM

    

    

    Attachment 1

     

    (Schedule intentionally omitted as not required under Regulation S-K and Regulation S-X.  A copy will be provided to the Securities
        and Exchange Commission or its staff upon request.)

    

    

    

    

    1

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