Document:

1st Amendment to and Consent under the 2nd Amended and Restated Agreement

 Exhibit 10.3 
 FIRST AMENDMENT TO AND CONSENT UNDER 
 SECOND AMENDED AND RESTATED 
 INTERCREDITOR AND COLLATERAL AGENCY AGREEMENT 
 This FIRST AMENDMENT TO AND CONSENT UNDER SECOND AMENDED AND RESTATED
INTERCREDITOR AND COLLATERAL AGENCY AGREEMENT (this “First Amendment”) is made as of October 14, 2008, by and among: (i) Prudential Investment
Management, Inc. (“PIM”), The Prudential Insurance Company of America (“Prudential”) and Prudential Retirement Insurance and Annuity Company (“PRIAC”), as Prudential Noteholders and Secured
Creditors, (ii) Bank of America, N.A., a national banking association (“BofA”), as a Credit Agreement Lender, Issuing Bank and Secured Creditor, (iii) Union Bank of California, N.A. (“Union Bank”) and U.S.
Bank National Association (“U.S. Bank”), as Credit Agreement Lenders and Secured Creditors, and (iv) BofA, in its capacity as Collateral Agent; and is further acknowledged and consented to by Northwest Pipe Company, an Oregon
corporation (the “Company”) and any other Persons that have become guarantors or other co-obligors of any of the Secured Obligations (together with the Company, collectively, the “Credit Parties”). Capitalized terms
used and not otherwise defined herein shall have the meanings provided in the Intercreditor Agreement referred to below. 
 RECITALS 
 WHEREAS, the Prudential Noteholders and the Credit Agreement Lenders entered into that
Second Amended and Restated Intercreditor Agreement dated as of May 31, 2007 (as amended hereby and as may be further amended, restated, supplemented and modified from time to time, the “Intercreditor Agreement”), which was
countersigned and agreed to by the Company; 
 WHEREAS, concurrently herewith certain Credit Agreement Lenders and the Company are
entering into that Second Amendment to Amended and Restated Credit Agreement (the “Second Amendment to Credit Agreement”), which makes certain modifications to the Credit Agreement, including an increase in the aggregate commitments
of such Credit Agreement Lenders thereunder; 
 WHEREAS, concurrently herewith U.S. Bank is executing and delivering a joinder
agreement to the Credit Agreement, making it an additional lender under the Credit Agreement with a commitment of $25,000,000 thereunder (the “U.S. Bank Credit Agreement Joinder”); 
 WHEREAS, concurrently herewith U.S. Bank is executing and delivering a Joinder Agreement (Secured Creditor), making it an additional Credit
Agreement Lender and an additional Secured Creditor under the Intercreditor Agreement (the “U.S. Bank Intercreditor Agreement Joinder”); 
  

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 WHEREAS, concurrently herewith the Prudential Noteholders and the Company are entering into that
certain First Amendment and Limited Waiver to Amended and Restated Note Purchase and Private Shelf Agreement, which makes certain modifications to the Prudential Note Agreement (the “First Amendment to Prudential Note Agreement”);
and 
 WHEREAS, the parties hereto desire to make certain amendments to the Intercreditor Agreement, and to have the Prudential
Noteholders consent to the increase of the aggregate commitments under the Credit Agreement effected by the Second Amendment to Credit Agreement, all upon the terms and conditions more fully set forth herein. 
 NOW, THEREFORE, in consideration of the covenants and agreements contained herein and in the Intercreditor Agreement, and other good and valuable
consideration, receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound hereby, the parties hereto agree as follows: 
 1 . Amendments to Intercreditor Agreement. Pursuant to Section 8.6 of the Intercreditor Agreement, and subject to the satisfaction of the conditions precedent in Section 2 hereof, the term
“Minority Creditor Group” appearing in Section 1.1 of the Intercreditor Agreement is hereby amended and restated in its entirety as follows: 
 “Minority Creditor Group” means a group comprised of any of the Credit Agreement Lenders or the Prudential Noteholders with respect to which the Principal Obligations of the Credit Agreement
Obligations and the Prudential Note Obligations attributable to such Persons at such time collectively constitute at least 10% of the Principal Obligations of the Secured Obligations at such time. 
 2 . Consent to Increased Commitments. Pursuant to Section 7.2(a) of the Intercreditor Agreement, and subject to the satisfaction of
the conditions precedent in Section 2 hereof, the undersigned Prudential Noteholders, who represent and warrant to the other parties hereto that they constitute all of the Prudential Noteholders (including the Majority Prudential Noteholders),
hereby consent to and approve the modifications to the Credit Agreement set forth in the Second Amendment to Credit Agreement, including, among others, the increase in the aggregate commitments under the Credit Agreement in an amount not to exceed
$200,000,000. 
 3 . Conditions. This First Amendment shall be effective upon satisfaction or waiver of all the following conditions
precedent: 
 3.1. Execution of this First Amendment. Each of the parties hereto shall have executed an original counterpart of this
First Amendment and shall have delivered such signatures to each other party hereto. 
 3.2. Execution of U.S. Bank Credit Agreement
Joinder. U.S. Bank shall have executed an original counterpart of the U.S. Bank Credit Agreement Joinder and shall have delivered such signatures to each of the other parties to the Creditor Agreement (together with a fully executed copy of such
joinder agreement delivered to the Prudential Noteholders). 
  

 2 

 3.3. Execution of U.S. Bank Intercreditor Agreement Joinder. U.S. Bank shall have executed an
original counterpart of the U.S. Bank Intercreditor Agreement Joinder and shall have delivered such signatures to each of the other parties to the Intercreditor Agreement. 
 3.4. Execution of Second Amendment to Credit Agreement. Each of the parties to the Second Amendment to Credit Agreement shall have executed an
original counterpart of such amendment, and shall have delivered such signatures to the parties thereto (together with a fully executed copy of such amendment delivered to the Prudential Noteholders), and the conditions precedent thereunder shall
have been satisfied or waived and the Second Amendment to Credit Agreement is effective in accordance with its terms. 
 3.5. Execution of
First Amendment to Prudential Note Agreement. Each of the parties to the First Amendment to Prudential Note Agreement shall have executed an original counterpart of such amendment, and shall have delivered such signatures to the parties thereto
(together with a fully executed copy of such amendment delivered to the administrative agent under the Credit Agreement), and the conditions precedent thereunder shall have been satisfied or waived and the First Amendment to Prudential Note
Agreement is effective in accordance with its terms. 
 3.6. Filing of UCC Amendment Statements. The Collateral Agent shall have filed
UCC amendment statements to each UCC financing statements filed against the Company in favor of the Collateral Agent, which reflect the Company’s change of address, and the Collateral Agent shall have provided evidence of filing of the same to
each of the Secured Creditors. 
 4 Miscellaneous. 
 4.1. Continuing Effect. Except as specifically provided herein, the Intercreditor Agreement and the other documents related thereto shall remain in full force and effect in accordance with their respective
terms and are hereby ratified and confirmed in all respects. 
 4.2. No Waiver; Reservation of Rights. This First Amendment is limited
as specified and the execution, delivery and effectiveness of this First Amendment shall not operate as a modification, consent, acceptance or waiver of any provision of the Intercreditor Agreement, or any other documents related thereto, except as
specifically set forth herein. 
 4.3. References. 
 4.3.1. From and after the date hereof, (i) the Intercreditor Agreement and all agreements, instruments and documents executed and
delivered in connection with any of the foregoing shall each be deemed amended hereby to the extent necessary, if any, to give effect to the provisions of this First Amendment and (ii) all of the terms and provisions of this First Amendment are
hereby incorporated by reference into the Intercreditor Agreement, as applicable, as if such terms and provisions were set forth in full therein, as applicable. 
  

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 4.3.2. From and after the date hereof, (i) all references in the Intercreditor
Agreement to “this Agreement”, “hereto”, “hereof”, “hereunder” or words of like import referring to the Intercreditor Agreement shall mean the Intercreditor Agreement as amended hereby and (ii) all
references in the Intercreditor Agreement or any other agreement, instrument or document executed and delivered in connection therewith to “Intercreditor Agreement”, “thereto”, “thereof”, “thereunder” or words
of like import referring to the Intercreditor Agreement shall mean the Intercreditor Agreement as amended hereby. 
 4.4. Governing
Law. THIS FIRST AMENDMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK, EXCLUDING CHOICE-OF-LAW PRINCIPLES OF THE LAW OF SUCH STATE THAT WOULD REQUIRE THE APPLICATION OF THE LAWS OF A JURISDICTION OTHER
THAN SUCH STATE. 
 4.5. Severability. In case any one or more of the provisions contained in this First Amendment should be invalid,
illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein shall not in any way be affected or impaired thereby. The parties shall endeavor in good faith negotiations to replace
the invalid, illegal or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provision. 
 4.6. Counterparts. This Agreement may be executed in two or more counterparts, each of which shall constitute an original, but all of which, when
taken together, shall constitute but one instrument. 
 4.7. Section Headings. The Section headings used herein are for convenience of
reference only and are not to affect the construction of or be taken into consideration in interpreting this First Amendment. 
 4.8.
Binding Effect. This First Amendment shall be binding on each of the Company, the other Credit Parties and its successors and assigns. This First Amendment shall be binding on and inure to the benefit of the successors of each of the Secured
Creditors. 
 4.9. Integration. This First Amendment, together with the other documents related hereto, incorporates all negotiations
of the parties hereto with respect to the subject matter hereof and is the final expression and agreement of the parties hereto with respect to the subject matter hereof. 
 [Signature page follows] 
  

 4 

 IN WITNESS WHEREOF, the parties hereto have executed this First Amendment to the Intercreditor Agreement
as of the date first written above. 
  

			
	BANK OF AMERICA, N. A., as Collateral Agent
		
	By:	 	 
	Title:	 	 
	
	BANK OF AMERICA, N. A., as a Credit Agreement Lender, Issuing Bank and Secured Creditor
		
	By:	 	 
	Title:	 	Senior Vice President
	
	UNION BANK OF CALIFORNIA, N.A., as a Credit Agreement Lender and Secured Creditor
		
	By:	 	 
	Title:	 	 
	
	U.S. BANK NATIONAL ASSOCIATION, as a Credit Agreement Lender and Secured Creditor
		
	By:	 	 
	Title:	 	 

			
	PRUDENTIAL INVESTMENT MANAGEMENT, INC., as a Prudential Noteholder and Secured Creditor
		
	By:	 	 
	Title:	 	Vice President
	
	THE PRUDENTIAL INSURANCE COMPANY OF AMERICA, as a Prudential Noteholder and Secured
Creditor
		
	By:	 	 
	Title:	 	Vice President
	
	PRUDENTIAL RETIREMENT INSURANCE AND ANNUITY COMPANY, as a Prudential Noteholder and
Secured Creditor
	
	By: PRUDENTIAL INVESTMENT MANAGEMENT, INC., as Investment Manager
		
	By:	 	 
	Title:	 	Vice President

 COUNTERSIGNED AND AGREED BY THE
CREDIT PARTIES: 
  

			
	 NORTHWEST PIPE COMPANY,
 an Oregon corporation

		
	By:	 	 
	Name:	 	Brian W. Dunham
	Title:	 	President and Chief Executive OfficerFirst Amendment to Employment Agreement (Tracy W. Krohn)

 Exhibit 10.1 
 First Amendment to Employment Agreement 
 This First Amendment to Employment Agreement (this
“Amendment”) is made by and between W&T Offshore, Inc., a Texas corporation (the “Company”) and Tracy W. Krohn (“Executive”). 
 W I T N E S S E T H: 
 WHEREAS, the Company and Executive are parties to that certain
Employment Agreement dated effective April 21, 2004 (the “Original Agreement”); and 
 WHEREAS, the Company and
Executive desire to amend the Original Agreement in certain respects as provided herein. 
 NOW THEREFORE, for and in consideration of
the foregoing and the agreements contained herein, the Company and Executive do hereby agree as follows: 
  

	 	1.	Defined Terms. Unless otherwise defined herein, capitalized terms used herein shall have the same meaning ascribed thereto in the Original Agreement.

  

	 	2.	Amendment. (a) Section 1 of the Original Agreement is hereby deleted in its entirety and replaced with the following: 

 “1. EMPLOYMENT AND TERM. The Executive’s December 2, 2002 Employment Agreement (the ‘2002 Employment Agreement’) is hereby
superseded by this Agreement, and effective as of the Effective Date, Executive shall have no further rights and the Company shall have no further liabilities under the 2002 Employment Agreement. Subject to the terms and conditions set forth in this
Agreement, the Company hereby agrees to employ the Executive, and the Executive accepts such employment, as Chief Executive Officer (‘CEO’) and President of the Company for the period beginning on the Effective Date and continuing until
the earlier of (i) the third anniversary of the Effective Date (the ‘Initial Employment Term’), or (ii) the termination of the Executive’s employment pursuant to the terms hereof. This Agreement will be automatically
extended for an additional year on the first anniversary date hereof and every subsequent anniversary date unless terminated by either the Company or the Executive by the giving of written notice to the other party no later than three
(3) months prior to the first anniversary date hereof or any such subsequent anniversary date, as the case may be. Effective as of the Execution Date, the Executive shall no longer be President or Treasurer of the Company but shall retain the
position of CEO. The entire period that Executive is employed under this Agreement shall be referred to in this Agreement as the ‘Employment Term’.” 

 (b) Effective the Execution Date, Section 2A of the Original Agreement is hereby amended by
replacing the number “$500,000” in the third line thereof with the number “$1,000,000”. 
 (c) Section 2(B) of the
Original Agreement is hereby amended in its entirety as follows: 
 “2(B) BONUS.
In addition to the Base Salary, the Executive shall be eligible to earn an annual bonus payable in cash, as promptly as practicable after the close of the taxable year (but no later than March 15th) up to a maximum amount of $500,000, as determined by the Compensation Committee of the Board.” 
 (d) Section 4(A) of the Original Agreement is hereby amended by deleting the third full sentence thereof and replacing it with “The Executive shall devote his efforts to performing such duties faithfully,
diligently and to the best of his abilities to advance the interests of the Company.” Section 4(B) of the Original Agreement is hereby amended by replacing the words “Krohn-Barbour Racing, LLC” in the first sentence thereof with
“Krohn Racing, LLC”. Section 4(C) of the Original Agreement is hereby amended by deleting the words “and President” contained therein. 
 (e) Section 6(A)(ii) of the Original Agreement is hereby amended by replacing the sentence contained therein with “The Company’s ‘Business’ means the business of oil and gas exploration or
production conducted in the Gulf of Mexico and such other and further business of the Company as the same may exist from time to time.” Section 6(A)(iii) of the Original Agreement containing the definition of “Compete” is hereby
amended by replacing the last sentence thereof with “W&T Offshore, LLC shall not be considered to Compete with the Company’s Business.” Section 6(F) of the Original Agreement is hereby amended by deleting the phase “and
for a period of two (2) years thereafter (such period, the ‘Non-Compete Period’)” in the second and third lines thereof. The remedy provisions of Section 6(G) of the Original Agreement are hereby deleted and said
Section 6(G) shall hereafter recite “Intentionally Deleted”. 
 (f) Section 7(B) of the Original Agreement is hereby
amended by deleting the following sentence contained therein: “One-half of the Severance Payment, but not less than $1,125,000, shall be paid to the Executive to compensate him for his lost earnings during the Non-Compete Period, and such
allocation shall be noted in the Company’s accounting records for purposes of addressing whether any excise taxes are owed by the Company or the Executive in connection with the Severance Payment.” 
 (g) Section 8(A)(iv) of the Original Agreement is amended by adding the phrase”, within a ninety (90) day period after the initial
existence of the condition,” in the fifth line thereof after the words “upon for termination” and before the words “and if the Company fails”. 

 (h) Section 11(A) and (B) of the Original Agreement are hereby deleted and replaced with the
following: 
 “(A) If to the Company to: 
 W&T Offshore, Inc. 
 Attention: President 
 Nine Greenway Plaza, Suite 300 
 Houston, TX 77046 
 Facsimile: (713) 624-7324 
 (B) If to the Executive to: 
 Tracy W. Krohn 
 Nine Greenway Plaza, Suite 300 
 Houston, TX 77046 
 Facsimile: (713) 624-7324” 
 (i) Section 18 is added to the Original Agreement as follows: 
 “18. AIRCRAFT. Since the Effective Date, in an effort to provide for the personal safety of the Executive and to facilitate efficient travel, the
Company has authorized the use of Company supplied aircraft by the Executive. Accordingly, during the Employment Term, the Executive shall have the right to use Company fractional ownership or chartered aircraft (excluding private aircraft owned by
the Executive) for any reason, whether personal or business related. In addition, private aircraft owned by the Executive may be chartered by the Company for only business purposes of the Company, not to exceed 25 hours of flight time in any
calendar year (pro-rated for the period from the Execution Date until the end of year 2008), unless the Audit Committee has authorized use in excess of 25 hours in any calendar year; provided, however, the costs to the Company to charter the private
aircraft owned by the Executive for any trip shall never exceed the cost to charter an aircraft that meets the needs for such trip (taking into account required seating capacity, operational requirements and flight duration) as determined by the
Chief Financial Officer of the Company (based on the rates of at least two third-party operators, which may include Flight Options and EJM as acceptable sources). The Chief Financial Officer of the Company shall provide the Audit Committee a
quarterly accounting of the use by the Executive of 

 
both Company fractional ownership or chartered aircraft and the private aircraft owned by the Executive. The tax implications to the Executive and the
required SEC disclosures shall be determined by the Chief Financial Officer of the Company in accordance with applicable law and regulations.” 
  

	 	3.	Ratification. As amended herein, the Original Agreement remains in full force and effect. The term “Agreement” shall hereafter mean the Original Agreement as
amended by this Amendment. 

 IN WITNESS WHEREOF, the parties hereto have executed this Amendment effective the 14th day
of October, 2008 (the “Execution Date”). 
  

			
	W&T OFFSHORE, INC.
		
	By:	 	/s/ S. James Nelson, Jr.
	Name:	 	S. James Nelson, Jr.
	Title:	 	 Chairman, Compensation Committee of Board of Directors
 “COMPANY”

		
	By:	 	/s/ Tracy W. Krohn
	Name:	 	 Tracy W. Krohn
 “EXECUTIVE”

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