Document:

EX-10.1

 Exhibit 10.1 

SEVERANCE AGREEMENT AND GENERAL RELEASE 

This SEVERANCE AGREEMENT AND GENERAL RELEASE (the “Agreement”) is hereby entered into by and between Addus Healthcare, Inc.,
an Illinois Corporation (the “Company”), and Maxine Hochhauser (the “Executive”), an individual domiciled in the State of Florida (the “Executive”). Company and Executive are hereinafter sometimes referred
to individually as “Party” and collectively as the “Parties.” 
 WHEREAS, Executive has been
employed by the Company as its Chief Operating Officer pursuant to the terms of an Employment and Non-Competition Agreement dated December 15, 2014 (the “Employment Agreement”); 

WHEREAS, for sound business reasons, the Company has terminated Executive’s employment pursuant to Section 6(c) of the Employment
Agreement; 
 WHEREAS, as a result of the Section 6(c) termination, the Employment Agreement entitles Executive to additional
severance pay, provided that Executive strictly comply with the post-employment restrictions contained in the Employment Agreement and execute a general release as described below; 

WHEREAS, the Parties acknowledge and understand that this Agreement shall supersede any and all prior understandings between the
Parties related to the termination of employment, except as otherwise described herein; 
 NOW, THEREFORE, in consideration of the
foregoing and the following terms, conditions, and obligations, the Parties agree as follows: 
 1. Termination of Employment.
The effective date of the termination of Executive’s employment shall be January 3, 2017 (the “Separation Date”). From and after the Separation Date, Executive will not take any action that binds or purports to bind the
Company, or any of its subsidiaries or affiliates, nor will Executive act as an agent or employee of the Company. 
 2. Payment
Following the Separation Date. Pursuant to Section 8(b) of the Employment Agreement, the Company shall pay Executive (i) all unpaid base salary accrued up to the Separation Date; (ii) all accrued but unused vacation, sick pay, and
floating holidays, as well as any other unpaid benefits described in Section 5 of the Employment Agreement for any period prior to the Separation Date; and (iii) any unreimbursed business expenses in accordance with the Company’s
regular business expense verification practices. Executive acknowledges that Executive is not owed any additional compensation, benefits, or payment by virtue of Executive’s employment, or termination of Executive’s employment, except as
provided herein or pursuant to any benefit plans in which Executive has participated and is currently vested. Executive further acknowledges that the payment of all accrued but unpaid salary and vacation and unreimbursed business expenses through
the Separation Date shall be paid by the next payroll period following the Separation Date whether or not, and without regard to when, Executive agrees to sign this Agreement. 

  
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 3. Severance Benefits. In exchange for the general release of claims and other good
and valuable consideration, and pursuant to the Employment Agreement, the Company agrees to pay and provide to Executive: (i) a total sum of $325,000, which represents twelve (12) months of Executive’s base salary as of the Separation
Date, and (ii) if Executive elects to continue Executive’s health, dental, and/or vision insurance coverage under the Consolidated Omnibus Budget Reconciliation Act (COBRA), cash payments equal to the difference between Executive’s
COBRA continuation coverage premiums and the amount of premiums paid by similarly situated active employees of the Company under the Company’s health, dental, and/or vision insurance plans until the earlier of twelve (12) months following
the Separation Date or the date Executive is eligible to receive coverage and benefits from a new employer (collectively referred to as the “Base Severance Pay”). The Base Severance Pay shall be paid in twelve equal installments
(subject to applicable withholdings and deductions, including state and federal payroll taxes) in accordance with the Company’s normal payroll practices, with the first payment (the “Initial Payment”) being made on the first
payroll period (the “Initial Payment Date”) occurring on or after January 1, 2017 (pursuant to Section 8(d) of the Employment Agreement), which Initial Payment shall include the amount of any installments that would have
occurred between the execution of this Agreement and the Initial Payment Date. Executive acknowledges that Executive shall forfeit the benefits provided for in this Section 3 unless the following occurs: (i) Executive executes this
Agreement; (ii) the Revocation Period described in Section 26 below expires prior to the Initial Payment Date; and (iii) Executive returns all Company property in accordance with Sections 9 and 13 herein prior to the Initial Payment
date. In addition, as further consideration for Executive’s execution of this Agreement, the Company also agrees to pay Executive a bonus that Executive is entitled to receive under Section 3(b) of the Employment Agreement for 2016 in an amount
paid to similarly situated executives and pursuant to the Company’s bonus plan (hereinafter referred to as the “Bonus Severance Pay”). The Bonus Severance Pay, shall be paid on the first payroll period following approval of the
bonus by the Company’s Board of Directors, which shall occur no later than April 15, 2017, provided that Executive has complied, and continues to comply, with Executive’s obligations under this Agreement. The Bonus Severance Pay shall
be subject to applicable withholdings and deductions, including state and federal payroll taxes. Executive acknowledges that the Base Severance Pay and the Bonus Severance Pay are in addition to any compensation Executive has earned from the Company
through Executive’s Separation Date and that Executive would not be entitled to either the Base Severance Pay or the Bonus Severance Pay but for Executive’s execution of this Agreement. 

4. General Release of Claims. 

(a) Executive hereby waives, releases, and forever discharges the Company, its subsidiaries, business units, affiliates, parent
companies, predecessors, successors, and its respective officers, directors, employees, agents, and legal counsel (collectively, the “Released Parties”) from any and all claims, causes of action, demands, damages, costs, expenses,
liabilities, grievances, or other losses, whether known or unknown, that in anyway arise from, grow out of, or are related to Executive’s employment with the Company, Executive’s termination of employment with the Company, or events that
occurred before the date Executive executes this Agreement. Executive understands that this general release of claims does not, however, waive any claim or cause of action that may arise after this Agreement is executed by Executive. 

  
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 (b) Without limiting the generality of the foregoing, this general release of
claims is intended to and shall release the Released Parties from any and all claims arising under federal, state, or local law prohibiting employment discrimination and all claims arising out of any legal restrictions on the Company’s right to
terminate its employees, including any breach of contract claims. This general release of claims also specifically releases the Released Parties from all claims under Title VII of the Civil Rights Act of 1964, as amended, the Age Discrimination in
Employment Act (ADEA), the National Labor Relations Act (NLRA), the Employment Retirement Income Security Act (ERISA), the Americans with Disabilities Act (ADA), the Uniformed Services Employment and Reemployment Rights Act (USERRA), the Genetic
Information Nondiscrimination Act (GINA), and the Equal Pay Act (EPA), as well as all other applicable state or local codes, laws, regulations, and ordinances concerning Executive’s employment. This general release of claims shall not apply to
claims that cannot be waived as a matter of law, including certain wage claims under the Fair Labor Standards Act or other state laws, claims under any applicable workers’ compensation laws, or claims under unemployment compensation laws. 

5. No Current Claims; Covenant Not to Sue. Executive represents and warrants that Executive has not filed any complaint(s) or
charge(s) against the Company or any of the other Released Parties with the Equal Employment Opportunity Commission (“EEOC”) or the state commission empowered to investigate claims of employment discrimination, the Department of Labor, the
Office of Federal Contract Compliance Programs, or with any other local, state, or federal agency or court. Executive acknowledges and understands, however, that nothing in this Agreement shall prevent Executive from filing a charge of
discrimination with the EEOC, but Executive agrees that should Executive obtain damages, or should the EEOC or any other third party obtain damages or other relief on Executive’s behalf, arising out of a claim concerning Executive’s
employment with the Company, Executive will completely waive and forego the receipt of all such damages or other relief. Other than as authorized by the second sentence of this Section 5, Executive covenants and agrees not to file, commence, or
initiate, whether directly or indirectly, any complaint or charge of any nature, whether related to employment discrimination or not, at any time hereafter against any of the Released Parties, and if any court, tribunal, or agency assumes or has
assumed jurisdiction over any such complaint or charge, Executive shall promptly request in writing that the court, tribunal, or agency dismiss the matter. If Executive breaches this covenant not to sue, Executive hereby agrees to pay all of the
reasonable costs and attorneys’ fees actually incurred by the Released Parties in defending against such claims, together with any further damages as may result, directly or indirectly, from that breach. 

6. No Admission of Wrongdoing or Liability. It is understood and agreed that this Agreement is in compromise of all existing,
potential, or disputed claims. Nothing contained in this Agreement will constitute, or be construed as or is intended to be, an admission or an acknowledgment by the Released Parties of any wrongdoing or liability, all such wrongdoing and liability
being expressly denied. 

  
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 7. Confidential Nature of This Agreement. Executive agrees to maintain absolute
confidentiality and secrecy concerning the terms of this Agreement and will not reveal, or disseminate by publication in any manner whatsoever, this document or any matters pertaining to it to any other person (in the broadest sense of the term),
including without limitation any past or present employee, officer, or director of the Company or any media representative, except as required by legal process. This confidentiality provision does not apply to communications necessary between
immediate family members, legal and financial planners, or tax preparers. However, Executive shall ensure that such individuals also uphold the confidentiality of this Agreement. 

8. Non-Disparagement. Executive agrees that Executive will not disparage or communicate
unfavorably about the Released Parties or the Company’s clients to third parties or in public or otherwise take any action or make any comment whatsoever that would harm, injure, or potentially harm or injure, the goodwill or reputation of the
Released Parties or the Company’s clients. This provision is not intended to, and shall not, prohibit Executive from cooperating with any government investigation or court order or from making a good-faith, truthful report to any government
agency with oversight responsibility for the Company, including without limitation the Occupational Safety and Health Administration. 

9. Restrictive Covenants. Executive acknowledges that Executive has previously executed an Employment Agreement, which includes
in Section 9 thereof certain non-competition, non-solicitation, non-disclosure, and
non-disparagement covenants; confidentiality and other acknowledgement provisions; and remedies for any breach of Section 9 of the Employment Agreement. Executive promises to adhere to all the terms of
Section 9 of the Employment Agreement, which shall remain in full force and effect following execution of this Agreement and which are hereby incorporated by reference as originally executed and acknowledged by both Parties. 

10. Tolling. In the event of any violation of the provisions of Section 9 of the Employment Agreement (and by incorporation
herein, Section 9 hereof), the Executive acknowledges and agrees that the post-termination restrictions contained in Section 9 shall be extended by a period of time equal to the period of such violation, it being the intention of the
Parties that the running of the applicable post-termination restriction period shall be tolled during any period of such violation. 
 11.
Disclosure. Executive acknowledges and warrants that Executive is not aware of, or that Executive has fully disclosed to the Company, in writing, any matters for which Executive was responsible or that came to Executive’s
attention as an employee of the Company that might give rise to, evidence, or support any claim of illegal conduct, regulatory violation, unlawful discrimination, or other cause of action against the Company. 

12. Non-Interference. Executive acknowledges that no restriction contained in this
Agreement shall prohibit Executive from communicating with any Government Agency or otherwise participating in any investigation or proceeding that may be conducted by any Government Agency, including providing documents or other information to a
Government Agency without notice to the Company. 

  
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 13. Company Property. Executive represents and covenants that Executive has
returned, or will return to Company, upon Company’s request and in no event any later than the Separation Date, all property of the Company, including but not limited to all keys to the Company’s offices, all equipment of any type, all
documents, patient lists, physician lists, vendor lists, written information, forms, formulae, Company plan documents, Company legal documents, work-related e-mails, confidential health information (including
private patient health information), and any other items relating to the Company’s business that Executive generated or received from the Company, as well as any records and copies of the same belonging to the Company (or any entity affiliated
with the Company), which are in Executive’s possession or control, including but not limited to all originals, copies, derivations, and summaries of any of the Company’s confidential or proprietary information. Executive agrees to destroy
any and all Company documents, including but not limited to e-mails and documents that Executive may have stored on Executive’s personal computers or other electronic devices of any kind. 

14. Cooperation. Executive agrees to reasonably cooperate with the Company, as requested, to effect a transition of
Executive’s responsibilities and job-related information and to ensure that the Company is aware of all matters that were being handled by Executive. Executive further agrees that Executive will, at the
request of the Company, render all assistance and perform all lawful acts that the Company considers necessary or advisable in connection with any investigation, litigation, or claims involving the Company or any of the other Released Parties.
Nothing in this paragraph is intended to coerce or suborn perjury. 
 15. Remedies. Executive understands and agrees that if
Executive breaches any term of this Agreement, including, without limitation, any obligation under Sections 8 or 9 of this Agreement, Executive shall be subject, upon petition to any court of competent jurisdiction, to any remedy available to the
Company at law or in equity, including the disgorgement and recoupment of any consideration given under this Agreement; temporary, preliminary, and permanent injunctive relief enjoining Executive from any such breach or threatened breach, without
the necessity of proving the inadequacy of monetary damages or the posting of any bond or security; damages; and pursuant to Section 24 hereof, payment of all reasonable attorneys’ fees incurred by the Company. In addition to the
foregoing, the Company, or its successors or assigns, will also be entitled to cease making any payments of the Base Severance Pay or, to the extent applicable, to stop payment of the Bonus Severance Pay in the event of a breach of this Agreement.

 16. Binding Effect. This Agreement will be binding upon and inure to the benefit of the Parties, and their respective
officers, directors, employees, agents, legal counsel, heirs, successors, and assigns. 
 17. Governing Law. This Agreement
will be governed by and construed and enforced in accordance with the laws of the State of Illinois, without regard to its choice of law rules. 

  
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 18. Notice. All notices, demands, or other communications hereunder, including any
notice of eligibility for health, dental, and/or vision insurance coverage under a new employer, shall be in writing and shall be deemed to have been duly given and received (a) if delivered personally, (b) three (3) business days after
being mailed, certified mail, return receipt requested, (c) one (1) business day after being sent by nationally recognized overnight delivery service, or (d) if sent via facsimile or similar electronic transmission during normal business
hours, as evidenced by mechanical confirmation of such facsimile or other electronic transmission: 
 If to Executive: 

Maxine Hochhauser 
 3561 NW
Clubside Circle 
 Boca Raton, FL 33496 

If to the Company: 
 Addus
HomeCare 
 6801 Gaylord Parkway, Suite 110 

Frisco, TX 75034 
 Attn: CEO 

Any Party (and any other person designated to receive notice) may change its address for notice by delivery to all other Parties of notice to such effect in
the manner set forth herein. 
 19. Counterparts. This Agreement may be executed in one or more counterparts, each of which
shall be deemed an original and all of which together shall be considered one and the same Agreement. Counterpart signature pages to this Agreement transmitted by facsimile transmission, by electronic mail in “portable document format”
(“.pdf”) form, or by any other electronic means intended to preserve the original graphic and pictorial appearance of a document, will have the same effect as physical delivery of the paper document bearing an original signature. 

20. No Waiver. Should the Company fail to require strict compliance with any term or condition of this Agreement, such failure
shall not be deemed a waiver of such terms or conditions, nor shall the Company’s failure to enforce any right it may have preclude it from thereafter enforcing its rights under this Agreement. 

21. Entire Agreement. This Agreement, together with the terms as incorporated by reference in Section 9 herein, contains
the entire understanding of the Parties as to the subject matter hereof and supersedes all prior and contemporaneous oral and written agreements and discussions with respect to the subject matter hereof. 

22. No Oral Modification. This Agreement may not be amended or modified except by an agreement in writing signed by both
Parties. 
 23. Severability. If a court of competent jurisdiction should rule that any provision of this Agreement is
invalid, illegal, or unenforceable in any respect, such ruling shall not affect the validity and enforceability of any other provision thereof, and this Agreement shall be construed as if such invalid, illegal, or unenforceable provision had never
been contained herein. 

  
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 24. Attorneys’ Fees. The Parties agree that in the event it becomes necessary
to seek judicial remedies for the breach or threatened breach of this Agreement, the prevailing party will be entitled, in addition to all other remedies, to recover from the non-prevailing party reasonable
attorneys’ fees and costs. 
 25. Section 409A Compliance. 

(a) The intent of the parties is that payments and benefits under this Agreement comply with Internal Revenue Code Section 409A
and the regulations and guidance promulgated thereunder (collectively “Code Section 409A”) and, accordingly, to the maximum extent permitted, this Agreement shall be interpreted to be in compliance therewith. In no event whatsoever
shall the Company be liable for any additional tax, interest, or penalty that may be imposed on Executive by Code Section 409A or damages for failing to comply with Code Section 409A. 

(b) A termination of employment shall not be deemed to have occurred for purposes of any provision of this Agreement providing
for the payment of any amounts or benefits upon or following a termination of employment unless such termination is also a “separation from service” within the meaning of Code Section 409A and, for purposes of any such provision of this
Agreement, references to a “termination,” “termination of employment” or like terms shall mean “separation from service.” Notwithstanding anything to the contrary in this Agreement, if Executive is deemed on the date of
termination to be a “specified employee” within the meaning of that term under Code Section 409A(a)(2)(B), then with regard to any payment or the provision of any benefit that is considered deferred compensation under Code Section 409A
payable on account of a “separation from service,” such payment or benefit shall not be made or provided until the date which is the earlier of (i) the expiration of the six (6)-month period measured from the date of such
“separation from service” of Executive, and (ii) the date of Executive’s death, to the extent required under Code Section 409A. Upon the expiration of the foregoing delay period, all payments and benefits delayed pursuant to this
Section 25(b) (whether they would have otherwise been payable in a single sum or in installments in the absence of such delay) shall be paid or reimbursed to Executive in a lump sum, and any remaining payments and benefits due under this Agreement
shall be paid or provided in accordance with the normal payment dates specified for them herein. 
 (c) To the extent that
reimbursements or other in-kind benefits under this Agreement constitute “nonqualified deferred compensation” for purposes of Code Section 409A, (i) all expenses or other reimbursements
hereunder shall be made on or prior to the last day of the taxable year following the taxable year in which such expenses were incurred by Executive, (ii) any right to reimbursement or in-kind benefits
shall not be subject to liquidation or exchange for another benefit, and (iii) no such reimbursement, expenses eligible for reimbursement, or in-kind benefits provided in any taxable year shall in any way
affect the expenses eligible for reimbursement, or in-kind benefits to be provided, in any other taxable year. 

  
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 (d) For purposes of Code Section 409A, Executive’s right to receive any
installment payments pursuant to this Agreement shall be treated as a right to receive a series of separate and distinct payments. Whenever a payment under this Agreement specifies a payment period with reference to a number of days, the actual date
of payment within the specified period shall be within the sole discretion of the Company. 
 (e) Notwithstanding any other
provision of this Agreement to the contrary, in no event shall any payment under this Agreement that constitutes “nonqualified deferred compensation” for purposes of Code Section 409A be subject to offset by any other amount unless
otherwise permitted by Code Section 409A. 
 26. Consideration and Revocation Period. Executive acknowledges that Executive
has a period of sixty (60) days after Executive’s receipt of this Agreement in which to consider entering into this Agreement (the “Consideration Period”). Executive has the right to sign this Agreement sooner than the
expiration of the Consideration Period. If Executive does so, Executive acknowledges that Executive waives the right to the full 60-day Consideration Period. Executive may also revoke the signed Agreement at
any time during a seven (7) day period following Executive’s execution of this Agreement, (the “Revocation Period”) by providing written notice of revocation in accordance with Section 18 of this Agreement. The notice
must be received by the Company no later than the seventh day after signing this Agreement. 
 27. Agreement Knowing and
Voluntary. Executive is advised that Executive has the right to and should consult with an attorney of Executive’s choice, at Executive’s expense, during the Consideration and/or Revocation Periods. By signing this Agreement,
Executive acknowledges that Executive has had an adequate opportunity to consult with an attorney and consider this Agreement. Executive further acknowledges that Executive has carefully read and fully understands all the provisions of this
Agreement, specifically including the General Release of Claims included in Section 4 of this Agreement. Executive acknowledges that Executive is fully satisfied with the terms and conditions of this Agreement, including, without limitation,
the Base Severance Pay and Bonus Severance Pay to be paid to Executive by the Company. Finally, Executive also acknowledges that Executive is voluntarily entering into this agreement without any threat or coercion. If Executive chooses to revoke
this Agreement within the Revocation Period, the Agreement shall become null and void, and Executive shall not be entitled to any of the benefits set forth in this Agreement to which Executive would otherwise not be entitled, including the Base
Severance Pay and Bonus Severance Pay. Should Executive not exercise Executive’s right to revoke this Agreement within seven (7) days of the date of execution, this Agreement shall be held in full force and effect, and each Party shall be
obligated to comply with its requirements. 

  
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 IN WITNESS WHEREOF, the Parties have executed this Agreement as of the date below. 

 

									
	Dated:	 	 February 12, 2017
	 		 	 /s/ Maxine Hochauser

		 		 		 	Maxine Hochhauser
				
	 Dated:
	 	 February 13, 2017
	 		 	Addus Healthcare, Inc.
					
		 		 		 	By:	 	 /s/ R. Dirk Allison

		 		 		 	Title:	 	President & Chief Executive Officer

  
 9EXHIBIT 10.1

 

Execution Version

 

AZURE MIDSTREAM PARTNERS, LP
 LIMITED DURATION WAIVER AGREEMENT

 

This Limited Duration Waiver Agreement (this “Agreement”) dated as of January 13, 2017, but effective upon the date of the satisfaction of the conditions set forth in Section 11 (the “Effective Date”), by and among Azure Midstream Partners, LP, a Delaware limited partnership (the “Borrower”), the Lenders (as defined below) party hereto and Wells Fargo Bank, National Association, as administrative agent (in such capacity, the “Administrative Agent”) for the Lenders, as issuing lender (in such capacity, an “Issuing Lender”) and as swingline lender (in such capacity, the “Swingline Lender”).

 

RECITALS:

 

A.                                    The Borrower, the Administrative Agent, the Issuing Lender, the Swingline Lender and the financial institutions party thereto from time to time, as lenders (the “Lenders”) are parties to that certain Credit Agreement, dated as of February 27, 2015 (as heretofore amended, as amended by this Agreement and as further amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”).

 

B.                                    The Borrower has informed the Lenders that the Borrower will not be in compliance or expects it will not be in compliance with Section 9.15 (Financial Covenants) of the Credit Agreement (such instance of noncompliance being hereinafter referred to as the “Subject Default”).

 

C.                                    The Borrower, the subsidiaries of the Borrower listed therein, the Lenders, the Issuing Lender, the Swingline Lender and the Administrative Agent have entered into that certain Limited Duration Waiver Agreement dated as of December 16, 2016, pursuant to which, among other things, the Lenders waived the Subject Default for a period ending on January 15, 2017.

 

D.                                    The Borrower has requested that the Lenders waive the Subject Default during the period beginning on the date hereof and ending on January 30, 2017, and the Lenders are willing to do so subject to the terms and conditions contained in this Agreement.

 

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows:

 

1.                                      Incorporation of Recitals; Defined Terms.  The Borrower acknowledges that the Recitals set forth above are true and correct in all material respects.  The defined terms in the Recitals set forth above are hereby incorporated into this Agreement by reference.  All other capitalized terms used herein without definition shall have the same meanings herein as such terms have in the Credit Agreement.

 

2.                                      Amounts Owing.  The Borrower acknowledges and agrees that the principal amount of Loans and LC Obligations as of January 13, 2017, is $173,661,626.46 ($173,511,626.46 in Revolving Credit Loans, $0 in Swingline Loans and $150,000.00 in LC Obligations), and such amount (together with interest and fees thereon) is justly and truly owing by the Borrower without defense, recoupment, offset or counterclaim.

 

 

3.                                      Limited Duration Waiver.  Subject to the terms and conditions contained in this Agreement, the Lenders waive the Subject Default but only for the period (the “Waiver Period”) beginning on the date hereof and ending on January 30, 2017 (the “Scheduled Waiver Expiration Date”).  The foregoing waiver shall become null and void on the Scheduled Waiver Expiration Date and from and after the Scheduled Waiver Expiration Date the Subject Default shall constitute an Event of Default and the Administrative Agent and the Lenders shall have all rights and remedies available to them under the Loan Documents as a result of the occurrence of the Subject Default as though this waiver had never been granted.

 

4.                                      Additional Agreements.  The Borrower further agrees that:

 

(a)                                 Notwithstanding the existence of the Waiver Period or anything contained herein or in the Credit Agreement or the Loan Documents to the contrary, the Loans and other Secured Obligations outstanding shall bear interest at the applicable rate per annum set forth in Section 5.1(b) of the Credit Agreement.

 

(b)                                 Notwithstanding anything contained herein or in the Credit Agreement or the Loan Documents to the contrary, the Borrower shall not designate or permit to exist any Unrestricted Subsidiary.

 

(c)                                  During the Waiver Period, the Borrower’s senior management and its financial advisors shall meet with the Administrative Agent and the Lenders and their financial advisors from time to time as reasonably requested by the Administrative Agent to discuss the Borrower’s business and financial affairs and such matters as the Lenders or the Administrative Agent may request.

 

(d)                                 The Borrower shall promptly provide such information, correspondence, letters on intent, commitment letters, offer letters, bids, agreements or other documents (or any drafts thereof), in each case, concerning the marketing and sale of the Borrower and its assets and all discussions and negotiations relating thereto, as the Administrative Agent or any Lender shall from to time request.

 

(e)                                  The Borrower shall, not later than January 30, 2017, enter into an agreement with respect to the sale of the Borrower and its assets.

 

5.                                      Waiver Termination.  As used in this Agreement, “Waiver Termination” shall mean the occurrence of the Scheduled Waiver Expiration Date, or, if earlier, the occurrence of any one or more of the following events: (a) any Default or Event of Default under the Credit Agreement, in each case other than the Subject Default; (b) any failure by the Borrower for any reason to comply with any term, condition, or provision contained in this Agreement; or (c) any representation made by the Borrower in this Agreement or pursuant to it proves to be incorrect or misleading in any material respect when made.  The occurrence of any Waiver Termination or any failure by the Borrower for any reason to comply with any term, condition, or provision contained in this Agreement shall be deemed an Event of Default under the Credit Agreement.  

 

2

 

Upon the occurrence of a Waiver Termination, the Waiver Period is automatically terminated and the Lenders are then permitted and entitled, with respect to the Subject Default and any other Event of Default then in existence, under Section 10.2 of the Credit Agreement, among other things, to accelerate the Borrower’s indebtedness, obligations and liabilities under the Loan Documents, and to exercise any other rights and remedies that may be available under the Loan Documents or applicable law.

 

6.                                      Limited Waiver and Reservation of Rights.  The Borrower acknowledges and agrees that immediately upon expiration or termination of the Waiver Period, the Administrative Agent and the Lenders have all of their rights and remedies with respect to the Subject Default to the same extent, and with the same force and effect, as if the waiver contained herein had not been granted.  The Borrower will not assert and hereby forever waives any right to assert that the Administrative Agent or the Lenders are obligated in any way to continue to waive the Subject Default beyond the Waiver Period or to forbear from enforcing their rights or remedies with respect to the Subject Default after the Waiver Period or that the Administrative Agent and the Lenders are not entitled to act on the Subject Default after the occurrence of a Waiver Termination as if such default had just occurred and the Waiver Period had never existed.  The Borrower acknowledges that the Lenders have made no representations as to what actions, if any, the Lenders will take after the Waiver Period or upon the occurrence of any Waiver Termination, Default or Event of Default, and the Lenders and the Administrative Agent must and do hereby specifically reserve any and all rights, remedies, and claims they have (after giving effect hereto) with respect to the Subject Default and each other Default or Event of Default that may occur.

 

7.                                      Acknowledgement of Liens.  The Borrower (a) reaffirms the terms of and its obligations (and the security interests granted by it) under each Security Document to which it is a party, and agrees that each such Security Document will continue in full force and effect to secure the Secured Obligations as the same may be amended, supplemented or otherwise modified from time to time, and (b) acknowledges, represents, warrants and agrees that the liens and security interests granted by it pursuant to the Security Documents are valid, enforceable and subsisting and create a security interest to secure the Secured Obligations.

 

8.                                      Representations and Warranties.  The Borrower hereby represents and warrants that:

 

(a)                                 after giving effect hereto, the representations and warranties of the Credit Parties contained in the Loan Documents are true and correct in all material respects (except to the extent any such representation and warranty is qualified by materiality or reference to Material Adverse Effect, in which case, such representation and warranty shall be true, correct and complete in all respects as if made on and as of such date) on and as of the date hereof, except that any representation and warranty that by its terms is made only as of an earlier date shall be true and correct as of such earlier date, except for any representation and warranty that is qualified by materiality or reference to Material Adverse Effect, which such representation and warranty shall be true and correct in all respects as of such earlier date;

 

(b)                                 no Default or Event of Default has occurred and is continuing after giving effect hereto;

 

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(c)                                  the execution, delivery and performance of this Agreement are within the corporate or other power and authority of the Credit Parties party hereto and have been duly authorized by appropriate corporate or other action and proceedings; 

 

(d)                                 this Agreement constitutes the legal, valid, and binding obligation of the Credit Parties party hereto, enforceable in accordance with their terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar state or federal Debtor Relief Laws from time to time in effect which affect the enforcement of creditors’ rights in general and general principles of equity; and

 

(e)                                  there are no governmental or other third party consents, licenses and approvals required in connection with the execution, delivery, performance, validity and enforceability of this Agreement.

 

9                                         Loan Documents Remain Effective.  Except as expressly set forth in this Agreement, the Loan Documents and all of the obligations of the Borrower thereunder, the rights and benefits of the Administrative Agent and Lenders thereunder, and the Liens created thereby remain in full force and effect.  Without limiting the foregoing, the Borrower agrees to comply with all of the terms, conditions, and provisions of the Loan Documents.  This Agreement and the Loan Documents are intended by the Lenders as a final expression of their agreement and are intended as a complete and exclusive statement of the terms and conditions of that agreement.

 

10.                               Fees and Expenses.  The Borrower shall pay promptly on demand all fees and expenses (including attorneys’ and financial advisors’ fees) incurred by the Administrative Agent and its counsel in connection with this Agreement and the other instruments and documents being executed and delivered in connection herewith.

 

11.                               Conditions Precedent.  This Agreement is effective as of the satisfaction of the following conditions precedent:

 

(a)                                 the Borrower, the Administrative Agent, and the Required Lenders shall have executed and delivered this Agreement, and each Grantor shall have executed and delivered its reaffirmation, acknowledgment, and consent in the space provided for that purpose below;

 

(b)                                 the payment of all current legal and financial advisor fees and expenses referred to in Section 10 above and for which invoices have been made available to the Borrower; and

 

(c)                                  the Borrower shall have delivered or cause to be delivered such evidence, in form and substance reasonably acceptable to the Administrative Agent, pursuant to which the Borrower’s primary financial advisor acknowledges that no fees or other amounts shall be payable to such advisor by reason of this Agreement under that certain engagement letter dated June 2, 2016, by and between such advisor and the Borrower.

 

12.                                Miscellaneous.

 

(a)                                 The Borrower, the Administrative Agent, the Issuing Lender, the Swingline Lender and each Lender party hereto does hereby adopt, ratify and confirm the Credit Agreement, and acknowledges and agrees that the Credit Agreement is and remains in full force and effect, and the Borrower acknowledges and agrees that its liabilities and obligations under the Credit Agreement and the other Loan Documents are not impaired in any respect by this Agreement.

 

4

 

(b)                                 This Agreement shall constitute a Loan Document for all purposes under the Credit Agreement and the other Loan Documents.

 

(c)                                  This Agreement may be executed by one or more of the parties hereto in any number of separate counterparts, and all of such counterparts taken together shall be deemed to constitute one and the same instrument.  Delivery of this Agreement by facsimile transmission or e-mail shall be effective as delivery of a manually executed counterpart hereof.

 

(d)                                 THIS AGREEMENT, THE CREDIT AGREEMENT AND THE OTHER LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT AMONG THE PARTIES AND SUPERSEDE ALL PRIOR UNDERSTANDINGS AND AGREEMENTS, WHETHER WRITTEN OR ORAL, RELATING TO THE TRANSACTIONS PROVIDED FOR HEREIN AND THEREIN. ADDITIONALLY, THIS AGREEMENT, THE CREDIT AGREEMENT, THE NOTES, AND THE OTHER LOAN DOCUMENTS MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES.

 

(e)                                  This Agreement and any claim, controversy, dispute or cause of action (whether in contract or tort or otherwise) based upon, arising out of or relating to this Agreement or any other Loan Document (except, as to any other Loan Document, as expressly set forth therein) and the transactions contemplated hereby and thereby shall be governed by, and construed in accordance with, the laws of the State of New York.

 

(f)                                   For good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, each Credit Party hereby, for itself and its successors and assigns, fully and without reserve, releases and forever discharges the Administrative Agent and each Lender, their respective successors and assigns, officers, directors, employees, representatives, trustees, attorneys, agents and affiliates (collectively the “Released Parties” and individually a “Released Party”) from any and all actions, claims, demands, causes of action, judgments, executions, suits, debts, liabilities, costs, damages, expenses or other obligations of any kind and nature whatsoever, known or unknown, direct and/or indirect, at law or in equity, whether now existing or hereafter asserted (INCLUDING, WITHOUT LIMITATION, ANY OFFSETS, REDUCTIONS, REBATEMENT, CLAIMS OF USURY OR CLAIMS WITH RESPECT TO THE NEGLIGENCE OF ANY RELEASED PARTY), for or because of any matters or things occurring, existing or actions done, omitted to be done, or suffered to be done by any of the Released Parties, in each case, on or prior to the Effective Date and are in any way directly or indirectly arising out of or in any way connected to any of this Agreement, the Credit Agreement, any other Loan Document or any of the transactions contemplated hereby or thereby (collectively, the “Released Matters”). Each Credit Party, by execution hereof, hereby acknowledges and agrees that the agreements in this Section 12(f) are intended to cover and be in full satisfaction for all or any alleged injuries or damages arising in connection with the Released Matters.

 

[SIGNATURE PAGES TO FOLLOW]

 

5

 

This Limited Duration Waiver Agreement is entered into as of the date and year first above written.

 

	
BORROWER:
    	
AZURE MIDSTREAM PARTNERS, LP
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
Azure Midstream   Partners GP, LLC,
    
	
 
    	
 
    	
its general partner
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
/s/ Amanda Bush
    
	
 
    	
 
    	
Name:
    	
Amanda Bush
    
	
 
    	
 
    	
Title:
    	
Chief Financial Officer
    

 

[Signature Page to Limited Duration Waiver — Azure Midstream Partners, LP]

 

 

	
 
    	
WELLS FARGO BANK, N.A.,
    
	
 
    	
as Administrative Agent, Issuing   Lender, Swingline Lender, and Lender
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Barry Parks
    
	
 
    	
Name:
    	
Barry Parks
    
	
 
    	
Title:
    	
Director
    

 

[Signature Page to Limited Duration Waiver — Azure Midstream Partners, LP]

 

 

	
 
    	
BANK OF AMERICA, N.A., as   a Lender
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Charles S.   Francavilla
    
	
 
    	
Name:
    	
Charles S. Francavilla
    
	
 
    	
Title:
    	
Managing Director
    

 

[Signature Page to Limited Duration Waiver — Azure Midstream Partners, LP]

 

 

	
 
    	
SOCIÉTÉ GÉNÉRALE, as   a Lender
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Michiel V.M. van   der Voort
    
	
 
    	
Name:
    	
Michiel V.M. van der   Voort
    
	
 
    	
Title:
    	
Managing Director
    

 

[Signature Page to Limited Duration Waiver — Azure Midstream Partners, LP]

 

 

	
 
    	
COMPASS BANK,   as a Lender
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Mark H. Wolf
    
	
 
    	
Name:
    	
Mark H. Wolf
    
	
 
    	
Title:
    	
Senior Vice President
    

 

[Signature Page to Limited Duration Waiver — Azure Midstream Partners, LP]

 

 

	
 
    	
COMERICA BANK,   as a Lender
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Chad Stephenson
    
	
 
    	
Name:
    	
Chad Stephenson
    
	
 
    	
Title:
    	
Vice President
    

 

[Signature Page to Limited Duration Waiver — Azure Midstream Partners, LP]

 

 

	
 
    	
ING CAPITAL LLC,   as a Lender
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Subha Pasumarti
    
	
 
    	
Name:
    	
Subha Pasumarti
    
	
 
    	
Title:
    	
Managing Director
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Cheryl LaBelle
    
	
 
    	
Name:
    	
Cheryl LaBelle
    
	
 
    	
Title:
    	
Managing Director
    

 

[Signature Page to Limited Duration Waiver — Azure Midstream Partners, LP]

 

 

	
 
    	
JPMORGAN CHASE BANK, N.A.,   as a Lender
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Geraldine A. King
    
	
 
    	
Name:
    	
Geraldine A. King
    
	
 
    	
Title:
    	
Special Credits Risk   Director
    

 

[Signature Page to Limited Duration Waiver — Azure Midstream Partners, LP]

 

 

	
 
    	
ZB, N.A. DBA AMEGY BANK,   as a Lender
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Jill McSorley
    
	
 
    	
Name:
    	
Jill McSorley
    
	
 
    	
Title:
    	
Senior Vice President —   Amegy Bank Division
    

 

[Signature Page to Limited Duration Waiver — Azure Midstream Partners, LP]

 

 

	
 
    	
REGIONS BANK,   as a Lender
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Lynn Johnston
    
	
 
    	
Name:
    	
Lynn Johnston
    
	
 
    	
Title:
    	
Sr. Vice President
    

 

[Signature Page to Limited Duration Waiver — Azure Midstream Partners, LP]

 

 

REAFFIRMATION, ACKNOWLEDGEMENT AND CONSENT

 

The undersigned, Marlin Midstream, LLC, a Texas limited liability company, and Azure Holdings GP, LLC, a Delaware limited liability company (together, the “Pledgors”) have executed and delivered a Pledge Agreement dated as of February 27, 2015 to the Lenders, and the Pledgors, Marlin Logistics, LLC, a Texas limited liability company, Turkey Creek Pipeline, LLC, a Texas limited liability company, Marlin G&P I, LLC, a Texas limited liability company, Murvaul Gas Gathering, LLC, a Texas limited liability company, Talco Midstream Assets, Ltd., a Texas limited partnership, Azure TGG, LLC, a Delaware limited liability company, and Azure ETG LLC, a Delaware limited liability company (collectively, the “Guarantors”), have executed and delivered a Guaranty Agreement dated as of February 27, 2015 (as may be amended, modified or supplemented from time to time, the “Guaranty”) to the Lenders.  As an additional inducement to and in consideration of the Lenders’ acceptance of the Limited Duration Waiver Agreement dated as of January 13, 2017 (the “Limited Duration Waiver”), the Pledgors and the Guarantors hereby agree with the Lenders as follows:

 

1.                                      Each of the Guarantors consents to the execution of the Limited Duration Waiver by the Borrower and acknowledges that this consent is not required under the terms of the Guaranty and that the execution hereof by the Guarantors shall not be construed to require the Lenders to obtain the Guarantors’ consent to any future amendment, modification or waiver of any term of the Credit Agreement except as otherwise provided in said Guaranty.  Each Guarantor hereby ratifies, confirms, acknowledges and agrees that its obligations under the Guaranty are in full force and effect and that such Guarantor continues to unconditionally and irrevocably guarantee the full and punctual payment, when due, whether at stated maturity or earlier by acceleration or otherwise, all of the Obligations (as defined in the Guaranty), and its execution and delivery of this consent does not indicate or establish an approval or consent requirement by such Guarantor under the Guaranty, in connection with the execution and delivery of amendments, consents or waivers to the Credit Agreement or any of the other Loan Documents.

 

2.                                      Each of the Guarantors and the Pledgors (a) reaffirms the terms of and its obligations (and the security interests granted by it) under each Security Document to which it is a party, and agrees that each such Security Document will continue in full force and effect to secure the Secured Obligations as the same may be amended, supplemented or otherwise modified from time to time, (b) acknowledges, represents, warrants and agrees that the liens and security interests granted by it pursuant to the Security Documents are valid, enforceable and subsisting and create a security interest to secure the Secured Obligations, (c) represents and warrants that, with respect to itself, each of the representations in Section 8 of the Limited Duration Waiver is true and correct in all respects and (d) acknowledges and agrees to the provisions in Section 12(f) of the Limited Duration Waiver.

 

3.                                      All terms used herein shall have the same meaning as in the Limited Duration Waiver and the Credit Agreement, unless otherwise expressly defined herein.

 

[SIGNATURE PAGES TO FOLLOW]

 

 

This Reaffirmation, Acknowledgement and Consent is dated as of January 13, 2017.

 

	
 
    	
MARLIN MIDSTREAM, LLC,
    
	
 
    	
a Texas limited   liability company
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Amanda Bush
    
	
 
    	
Name:
    	
Amanda Bush
    
	
 
    	
Title:
    	
Chief Financial Officer
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
MARLIN LOGISTICS, LLC,
    
	
 
    	
a Texas limited   liability company
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Amanda Bush
    
	
 
    	
Name:
    	
Amanda Bush
    
	
 
    	
Title:
    	
Chief Financial Officer
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
MARLIN G&P I, LLC,
    
	
 
    	
a Texas limited   liability company
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Amanda Bush
    
	
 
    	
Name:
    	
Amanda Bush
    
	
 
    	
Title:
    	
Chief Financial Officer
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
MURVAUL GAS GATHERING LLC,
    
	
 
    	
a Texas limited   liability company
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Amanda Bush
    
	
 
    	
Name:
    	
Amanda Bush
    
	
 
    	
Title:
    	
Chief Financial Officer
    

 

[Signature Page to Reaffirmation, Acknowledgement and Consent — Azure Midstream Partners, LP]

 

 

	
 
    	
TURKEY CREEK PIPELINE, LLC,
    
	
 
    	
a Texas limited   liability company
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Amanda Bush
    
	
 
    	
Name:
    	
Amanda Bush
    
	
 
    	
Title:
    	
Chief Financial Officer
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
TALCO MIDSTREAM ASSETS LTD.,
    
	
 
    	
a Texas limited   partnership
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Amanda Bush
    
	
 
    	
Name:
    	
Amanda Bush
    
	
 
    	
Title:
    	
Chief Financial Officer
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
AZURE HOLDINGS GP, LLC,
    
	
 
    	
a Delaware limited   liability company
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Amanda Bush
    
	
 
    	
Name:
    	
Amanda Bush
    
	
 
    	
Title:
    	
Chief Financial Officer
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
AZURE TGG, LLC,
    
	
 
    	
a Delaware limited   liability company
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Amanda Bush
    
	
 
    	
Name:
    	
Amanda Bush
    
	
 
    	
Title:
    	
Chief Financial Officer
    

 

[Signature Page to Reaffirmation, Acknowledgement and Consent — Azure Midstream Partners, LP]

 

 

	
 
    	
AZURE ETG, LLC,
    
	
 
    	
a Delaware limited   liability company
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Amanda Bush
    
	
 
    	
Name:
    	
Amanda Bush
    
	
 
    	
Title:
    	
Chief Financial Officer
    

 

 

[Signature Page to Reaffirmation, Acknowledgement and Consent — Azure Midstream Partners, LP]

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