Document:

ex10-2.htm

Exhibit 10.2

The employment agreements for each of Sam Klepfish and Justin Wiernasz, the Corporation’s CEO and President, respectively, were amended (i) ) in the event of a change of control (as defined below) all equity based compensation (including options and restricted stock units) payable pursuant to such employment agreements, shall immediately vest and/or restrictions thereon shall lapse, and (ii) to provide that in the event of a termination without Cause (as defined in the employment agreement) they shall receive a lump sum payment equal to the greater of (x) the salary payable over the last six months of the term of the agreement, or (y) the Base Salary (as defined in the employment agreement) remaining through the end of the then-current term of the agreement.  The definition of change of control shall mean the occurrence of any of the following events: (w) the sale or transfer by the Company for at least $25 million (such consideration consisting of cash, cash equivalents, notes or securities) of more than 50% of its Voting Securities (as defined below) or substantially all of its assets; or  (x) the acquisition, other than from the Company or employees of it or any of its subsidiaries, by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934) (other than an employee benefit plan of the Company) of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of more than 50% of the combined voting power of the then outstanding voting securities of the Company entitled to vote generally in the election of directors (the "Voting Securities"); or (y) the approval by the stockholders of the Company of a reorganization, merger, consolidation or recapitalization of the Company (a "Business Combination"), other than a Business Combination in which more than 50% of the combined voting power of the outstanding Voting Securities of the surviving or resulting entity immediately following the Business Combination is held by the persons who, immediately prior to the Business Combination, were the holders of the Voting Securities; or (z) the approval by the stockholders of the Company of a complete liquidation or dissolution of the Company, or a sale of all or substantially all of the assets of the Company.

 

Each of Sam Klepfish and Justin Wiernasz, the Corporation’s CEO and President, respectively, was awarded, as a special bonus, effective November 17, 2014, an aggregate of 1,000,000 restricted stock units (“RSU”) subject to time and performance vesting conditions, with the timing conditions as follows: 150,000 RSUs vest on each of July 1 and December 31, 2015; 300,000 RSUs vest on December 31, 2016 and 400,000 RSUs vest on July 1, 2017, and the performance conditions are as follows: for the RSUs vesting in 2015, the Corporation, on a consolidated basis, must have four months with sales above $2.5M during 2015, for the RSUs vesting in 2016, the Corporation, on a consolidated basis, must have four months with sales above $2.5M during 2016 and for the RSUs vesting in 2017, the Corporation, on a consolidated basis, must have four months with sales above $2.5M during 2017, provided however, that if the performance condition is not met in any year, the RSUs scheduled to vest in such year will still vest if the Corporation, on a consolidated basis, has six months with sales of at least $2.5M during the following year.  The company's board of directors will modify and increase the performance requirements, with the consent of executive, if warranted and appropriate.EX-10.1

 Exhibit 10.1 

Execution Version 
  

 
  

FIRST AMENDMENT TO CREDIT AGREEMENT 

dated as of 

November 14, 2014 

among 
 ANADARKO
PETROLEUM CORPORATION, 
 JPMORGAN CHASE BANK, N.A., 

as Administrative Agent, 

and 
 The Lenders Party
Hereto 
  
  

 

 FIRST AMENDMENT TO CREDIT AGREEMENT 

THIS FIRST AMENDMENT TO CREDIT AGREEMENT (this “First Amendment”) dated as of November 14, 2014,
is among ANADARKO PETROLEUM CORPORATION, a Delaware corporation (the “Borrower”); JPMORGAN CHASE BANK, N.A., as administrative agent (in such capacity, together with its successors in such capacity, the
“Administrative Agent”) for the lenders party to the Credit Agreement referred to below (collectively, the “Lenders”); and the undersigned Lenders. 

R E C I T A L S 

A.        The Borrower, the Administrative Agent and the Lenders are parties to that
certain Credit Agreement dated as of June 17, 2014 (the “Credit Agreement”). 

B.        The Borrower has requested and the Lenders have agreed to amend certain
provisions of the Credit Agreement. 
 C.        NOW, THEREFORE, in consideration of
the premises and the mutual covenants herein contained, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 

Section 1.        Defined Terms.    Each capitalized
term used herein but not otherwise defined herein has the meaning given such term in the Credit Agreement. Unless otherwise indicated, all references to Sections in this First Amendment refer to Sections of the Credit Agreement. 

Section 2.        Amendments to Credit
Agreement.    The last paragraph of Section 6.02 is hereby amended by replacing the reference to “December 1, 2014” therein with “April 1, 2015”. 

Section 3.        Conditions Precedent.    This First
Amendment shall not become effective until the date on which each of the following conditions is satisfied (or waived in accordance with Section 9.02 of the Credit Agreement) (the “Effective Date”): 

3.1    The Administrative Agent and the Lenders shall have received, to the extent
invoiced at least two Business Days prior to the Effective Date (unless the Borrower otherwise consents), reimbursement or payment of all out-of-pocket expenses (including legal fees) required to be reimbursed or paid by the Borrower hereunder. 

3.2    The Administrative Agent shall have received from each Lender and the Borrower,
counterparts (in such number as may be requested by the Administrative Agent) of this First Amendment signed on behalf of such Persons. 

Section 4.        Miscellaneous. 

4.1    Ticking Fee.    As consideration for the Commitments of
the Lenders, the Borrower agrees to pay to the Administrative Agent, for the account of each Lender, a ticking fee (the “Ticking Fee”) at the Facility Fee Rate on each Lender’s Commitment, accruing from and including
(a) October 15, 2014 until (b) the earlier to occur of (i) the Availability Date; (ii) the date on which the Commitments have terminated or expired (the “Commitment Termination Date”); or
(iii) April 1, 2015 (such earlier date, the “Ticking Fee End Date”). The accrued and unpaid portion of the Ticking Fee will be fully earned and shall be due and 

 
payable in cash: (1) on the date that is the earlier of (x) December 1, 2014 or (y) the Ticking Fee End Date; and (2) if the Ticking Fee End Date has not occurred on or
before December 1, 2014, on the date that is the earlier of (x) March 1, 2015 or (y) the Ticking Fee End Date; and (3) if the Ticking Fee End Date has not occurred on or before March 1, 2015, on the Ticking Fee End
Date. The Ticking Fee shall be paid in immediately available funds without setoff, counterclaim or deduction and shall not be refundable under any circumstances. The Ticking Fee payable pursuant to this Section 4.1 shall be in lieu of any other
ticking fee payable pursuant to the Commitment Letter (including the Term Sheet attached thereto) dated as of May 15, 2014 by and among the Borrower, the Arrangers and the other parties thereto or under any fee letter between the Borrower and
any Arranger executed in connection therewith. 

4.2    Confirmation.    The provisions of the Credit Agreement,
as amended by this First Amendment, shall remain in full force and effect following the effectiveness of this First Amendment. 

4.3    Ratification and Affirmation; Representations and
Warranties.    The Borrower hereby: (a) acknowledges the terms of this First Amendment; (b) ratifies and affirms its obligations under, and acknowledges, renews and extends its continued liability under, each Loan
Document to which it is a party and agrees that each Loan Document to which it is a party remains in full force and effect, except as expressly amended hereby, after giving effect to the amendments contained herein; (c) agrees that from and
after the Effective Date each reference to the Credit Agreement and the other Loan Documents shall be deemed to be a reference to the Credit Agreement, as amended by this First Amendment; and (d) represents and warrants to the Lenders that as
of the date hereof, after giving effect to the terms of this First Amendment: (i) all of the representations and warranties contained in each Loan Document to which it is a party are true and correct in all material respects, unless such
representations and warranties are stated to relate to a specific earlier date, in which case, such representations and warranties shall continue to be true and correct as of such earlier date and (ii) no Default has occurred and is
continuing.  
 4.4    Loan Document.    This First
Amendment is a “Loan Document” as defined and described in the Credit Agreement and all of the terms and provisions of the Credit Agreement relating to Loan Documents shall apply hereto. 

4.5    Counterparts.    This First Amendment 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 First Amendment by facsimile transmission shall be
effective as delivery of a manually executed counterpart hereof. 
 4.6    NO ORAL
AGREEMENT.    THIS FIRST AMENDMENT, THE CREDIT AGREEMENT AND THE OTHER LOAN DOCUMENTS EXECUTED IN CONNECTION HEREWITH AND THEREWITH REPRESENT THE FINAL AGREEMENT AMONG THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF
PRIOR, CONTEMPORANEOUS, OR UNWRITTEN ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO ORAL AGREEMENTS BETWEEN THE PARTIES. 

  
 2 

 4.7    GOVERNING
LAW.    THIS FIRST AMENDMENT (INCLUDING, BUT NOT LIMITED TO, THE VALIDITY AND ENFORCEABILITY HEREOF) SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 

[SIGNATURES BEGIN NEXT PAGE] 

  
 3 

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

							
	BORROWER:	 		 	 ANADARKO PETROLEUM CORPORATION,

as Borrower

				
		 		 	By:	 	/s/ Albert L. Richey
		 		 	Name:	 	Albert L. Richey
		 		 	Title:	 	 Senior Vice President, Finance and Treasurer

 [Signature Page–First Amendment to Credit Agreement] 

							
		 		 	 JPMORGAN CHASE BANK, N.A.,

as Administrative Agent, an Issuing Bank,
 a Swingline Lender, and
a Lender

				
		 		 	By:	 	/s/ M. Hasan
		 		 	Name:	 	Muhammad Hasan
		 		 	Title:	 	 Vice President

 [Signature Page–First Amendment to Credit Agreement] 

							
		 		 	 WELLS FARGO BANK, NATIONAL

ASSOCIATION, as a Lender

				
		 		 	By:	 	/s/ Borden Tennant
		 		 	Name:	 	Borden Tennant
		 		 	Title:	 	Assistant Vice President

 [Signature Page–First Amendment to Credit Agreement] 

							
		 		 	 BANK OF AMERICA, N.A.,

as a Lender

				
		 		 	By:	 	/s/ Kenneth Phelan
		 		 	Name:	 	Kenneth Phelan
		 		 	Title:	 	Vice President

 [Signature Page–First Amendment to Credit Agreement] 

							
		 		 	 CITIBANK, N.A.,
 as
Co-Documentation Agent, an Issuing Bank and a
 Lender

				
		 		 	By:	 	 /s/ Eamon Baqui

		 		 	Name:	 	 Eamon Baqui

		 		 	Title:	 	Vice President

 [Signature Page–First Amendment to Credit Agreement] 

							
		 		 	 THE BANK OF TOKYO-MITSUBISHI UFJ,

LTD., as Co-Documentation Agent, an Issuing

Bank and a Lender

				
		 		 	By:	 	/s/ S. Brandford
		 		 	Name:	 	S. Brandford
		 		 	Title:	 	Director

 [Signature Page–First Amendment to Credit Agreement] 

							
		 		 	 THE ROYAL BANK OF SCOTLAND PLC,

as a Lender

				
		 		 	By:	 	/s/ James L. Moyes
		 		 	Name:	 	James L. Moyes
		 		 	Title:	 	Authorised Signatory

 [Signature Page–First Amendment to Credit Agreement] 

							
		 		 	 BARCLAYS BANK PLC,
 as
a Lender

				
		 		 	By:	 	/s/ Alicia Borys
		 		 	Name:	 	Alicia Borys
		 		 	Title:	 	Vice President

 [Signature Page–First Amendment to Credit Agreement] 

							
		 		 	 BNP PARIBAS,
 as a
Lender

				
		 		 	By:	 	/s/ Sriram Chandrasekaran
		 		 	Name:	 	Sriram Chandrasekaran
		 		 	Title:	 	Director
				
		 		 	By:	 	/s/ Julien Pecoud-Bouvet
		 		 	Name:	 	Julien Pecoud-Bouvet
		 		 	Title:	 	Vice President

 [Signature Page–First Amendment to Credit Agreement] 

							
		 		 	 CREDIT AGRICOLE CORPORATE AND

INVESTMENT BANK, as a Lender

				
		 		 	By:	 	/s/ Dennis E. Petito
		 		 	Name:	 	Dennis E. Petito
		 		 	Title:	 	Managing Director
				
		 		 	By:	 	/s/ Michael D. Willis
		 		 	Name:	 	Michael D. Willis
		 		 	Title:	 	Managing Director

 [Signature Page–First Amendment to Credit Agreement] 

							
		 		 	 CREDIT SUISSE AG, CAYMAN ISLANDS

BRANCH, as a Lender

				
		 		 	By:	 	/s/ Nupur Kumar
		 		 	Name:	 	Nupur Kumar
		 		 	Title:	 	Authorized Signatory
				
		 		 	By:	 	/s/ Samuel Miller
		 		 	Name:	 	Samuel Miller
		 		 	Title:	 	Authorized Signatory

 [Signature Page–First Amendment to Credit Agreement] 

							
		 		 	 DEUTSCHE BANK AG NEW YORK

BRANCH, as a Lender

				
		 		 	By:	 	/s/ Virginia Cosenza
		 		 	Name:	 	Virginia Cosenza
		 		 	Title:	 	Vice President
				
		 		 	By:	 	/s/ Ming K. Chu
		 		 	Name:	 	Ming K. Chu
		 		 	Title:	 	Vice President

 [Signature Page–First Amendment to Credit Agreement] 

							
		 		 	 DNB CAPITAL LLC, 
 as
a Lender 

				
		 		 	By:	 	/s/ Joe Hykle
		 		 	Name:	 	Joe Hykle
		 		 	Title:	 	Senior Vice President
				
		 		 	By:	 	/s/ Robert Dupree
		 		 	Name:	 	Robert Dupree
		 		 	Title:	 	Senior Vice President

 [Signature Page–First Amendment to Credit Agreement] 

							
		 		 	 GOLDMAN SACHS BANK USA, 

as a Lender

				
		 		 	By:	 	/s/ Michelle Latzoni
		 		 	Name:	 	Michelle Latzoni
		 		 	Title:	 	Authorized Signatory

 [Signature Page–First Amendment to Credit Agreement] 

							
		 		 	 MORGAN STANLEY BANK, N.A., 

as a Lender

				
		 		 	By:	 	/s/ Dmitriy Barskiy
		 		 	Name:	 	Dmitriy Barskiy
		 		 	Title:	 	Authorized Signatory

 [Signature Page–First Amendment to Credit Agreement] 

							
		 		 	 SOCIETE GENERALE, 
 as
a Lender

				
		 		 	By:	 	/s/ Diego Medina
		 		 	Name:	 	Diego Medina
		 		 	Title:	 	Director

 [Signature Page–First Amendment to Credit Agreement] 

							
		 		 	 STANDARD CHARTERED BANK, 

as a Lender

				
		 		 	By:	 	/s/ Steven Aloupis
		 		 	Name:	 	Steven Aloupis
		 		 	Title:	 	Managing Director
				
		 		 	By:	 	 /s/ Hsing H. Huang

		 		 	Name:	 	Hsing H. Huang
		 		 	Title:	 	Associate Director

 [Signature Page–First Amendment to Credit Agreement] 

							
		 		 	 SUMITOMO MITSUI BANKING

CORPORATION, as a Lender

				
		 		 	By:	 	/s/ Shuji Yabe
		 		 	Name:	 	Shuji Yabe
		 		 	Title:	 	Managing Director

 [Signature Page–First Amendment to Credit Agreement] 

							
		 		 	 THE BANK OF NOVA SCOTIA, 

as a Lender

				
		 		 	By:	 	/s/ John Frazell
		 		 	Name:	 	John Frazell
		 		 	Title:	 	Director

 [Signature Page–First Amendment to Credit Agreement] 

							
		 		 	 UBS AG, STAMFORD BRANCH, 

as a Lender 

				
		 		 	By:	 	/s/ Lana Gifas
		 		 	Name:	 	Lana Gifas
		 		 	Title:	 	Director
				
		 		 	By:	 	/s/ Jennifer Anderson
		 		 	Name:	 	Jennifer Anderson
		 		 	Title:	 	Associate Director

 [Signature Page–First Amendment to Credit Agreement] 

							
		 		 	 THE STANDARD BANK OF SOUTH AFRICA

LIMITED, as a Lender 

				
		 		 	By:	 	 /s/ T. J. Lancaster

		 		 	Name:	 	 T. J. Lancaster

		 		 	Title:	 	Head of Debt Products

 [Signature Page–First Amendment to Credit Agreement] 

							
		 		 	 THE BANK OF NEW YORK MELLON, 

as a Lender

				
		 		 	By:	 	/s/ Hussam S. Alsahlani
		 		 	Name:	 	Hussam S. Alsahlani
		 		 	Title:	 	Vice President

 [Signature Page–First Amendment to Credit Agreement]

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