Document:

crk-ex101_256.htm

Exhibit 10.1

AMENDMENT AND WAIVER TO CREDIT AGREEMENT

This AMENDMENT AND WAIVER TO CREDIT AGREEMENT (this “Amendment”) dated as of June 19, 2015 (the “Amendment Effective Date”), is among COMSTOCK RESOURCES, INC. (the “Borrower”), the financial institutions party hereto as lenders, and BANK OF MONTREAL, as administrative agent for the Lenders (in such capacity, together with its successors and assigns, the “Administrative Agent”).

PRELIMINARY STATEMENT

A.   The Borrower, the Administrative Agent, the Lenders and certain other parties have entered into that certain Credit Agreement dated as of March 4, 2015, (as amended, restated, modified or supplemented from time to time until the date hereof, the “Credit Agreement”).

B.   The Borrower has requested that the Administrative Agent and the Lenders amend the Credit Agreement in order to revise Section 7.12(a) subject to certain conditions more particularly set forth herein.

C.  Subject to the terms and conditions of this Amendment, the Lenders, the Administrative Agent have entered into this Amendment in order to effectuate such amendments and modifications to the Credit Agreement, as set forth herein.

NOW THEREFORE, in consideration of the foregoing and the mutual agreements set forth herein, the parties agree as follows:

Section 1.Definitions.  Unless otherwise defined in this Amendment, each capitalized term used in this Amendment has the meaning assigned to such term in the Credit Agreement.

 

Section 2.Amendment of Credit Agreement.  Section 7.12(a) of the Credit Agreement is hereby amended in its entirety to provide as follows:

 

“(a) From and after March 4, 2015, Optional Indebtedness Payments to repurchase Indebtedness under the Indenture Debt Documents in an aggregate cash payment amount (excluding any accrued interest thereon) not to exceed $50,000,000, provided that (i) both before and after giving effect to such payment, (on a pro forma basis acceptable to the Administrative Agent) (A) no Default or Event of Default shall have occurred and be continuing and all representations and warranties contained in Article V hereof shall be true and correct in all material respects as if made at the time of such payment and (B) the sum of cash held in depository accounts under control of the Administrative Agent and available unfunded Aggregate Commitments then in effect shall not  be less than $50,000,000 and (ii) prior to any such payment the Borrower delivers to the Administrative Agent a certificate of a Responsible Officer certifying as to the foregoing;”

 

Section 3.Waiver.  Pursuant to Section 10.1 of the Credit Agreement, the Majority Lenders hereby waive any Default or Event of Default that may have occurred prior to the Amendment Effective Date due to a breach of Section 7.12 caused by Optional Indebtedness Payments in excess of the amount permitted thereby.

 

Section 4.Ratification.  The Borrower hereby ratifies and confirms all of the Obligations under the Credit Agreement (as amended or waived hereby) and the other Loan Documents, and, in particular, affirms that the terms of the Security Documents secure, and will continue to secure, all Obligations, after giving effect to this Amendment.  

 

Section 5.Effectiveness.  This Amendment shall become effective on the Amendment Effective Date upon satisfaction of all of the conditions set forth in this Section 5:

 

(a)The Administrative Agent shall have received duly executed counterparts of this Amendment from the Borrower, the Administrative Agent and the Majority Lenders;

 

(b)The Borrower shall have confirmed and acknowledged to the Administrative Agent and the Lenders, and by its execution and delivery of this Amendment, the Borrower does hereby confirm and acknowledge to the Administrative Agent and the Lenders, that (i) the execution, delivery and performance of this Amendment has been duly authorized by all requisite corporate action on the part of the Borrower; (ii) the Credit Agreement (as amended hereby) and each other Loan Document constitute valid and legally binding agreements enforceable against the Borrower and each other Loan Party that is a party thereto in accordance with their respective terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium, fraudulent transfer or other similar laws relating to or affecting the enforcement of creditors’ rights generally and by general principles of equity, (iii) the representations and warranties by the Borrower and the other Loan Parties contained in the Credit Agreement and in the other Loan Documents are true and correct on and as of the date hereof in all material respects as though made as of the date hereof, and (iv) no Default or Event of Default exists under the Credit Agreement or any of the other Loan Documents.

 

Section 6.Governing Law.  This Amendment shall be governed by, and construed in accordance with, the laws of the State of New York.

 

Section 7.Miscellaneous.  (a) On and after the effectiveness of this Amendment, each reference in each Loan Document to “this Amendment”, “this Note”, “this Mortgage”, “hereunder”, “hereof” or words of like import, referring to such Loan Document, and each reference in each other Loan Document to “the Credit Agreement”, “the Notes”, “the Mortgages”, “thereunder”, “thereof” or words of like import referring to the Credit Agreement, the Notes, or the Mortgage or any of them, shall mean and be a reference to such Loan Document, the Credit Agreement, the Notes, the Mortgage or any of them, as amended or otherwise modified by this Amendment; (b) the execution, delivery and effectiveness of this Amendment shall not, except as expressly provided herein, operate as a waiver of any default of the Borrower or any right, power or remedy of the Administrative Agent or the Banks under any of the Loan Documents, nor constitute a waiver of any provision of any of the Loan Documents and except as otherwise modified by the terms hereof, the Credit Agreement and such other Loan 

Documents shall remain in full force and effect; (c) this Amendment may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement; and (d) delivery of an executed counterpart of a signature page to this Amendment by telecopier shall be effective as delivery of a manually executed counterpart of this Amendment.

 

Section 8.Final Agreement.  THE CREDIT AGREEMENT AND THE OTHER LOAN DOCUMENTS, INCLUDING THIS AMENDMENT, REPRESENT THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES.  THERE ARE NO ORAL AGREEMENTS BETWEEN THE PARTIES.

 

IN WITNESS WHEREOF, each of the parties hereto has caused this Amendment to Credit Agreement to be executed by its officer(s) thereunto duly authorized as of the date first above written.

BORROWER:

COMSTOCK RESOURCES, INC.,
a Nevada corporation

By:   /s/ ROLAND O. BURNS______________

Name: Roland O. Burns

Title:   President and Chief Financial Officer

ADMINISTRATIVE AGENT AND LENDERS:

BANK OF MONTREAL, as Administrative Agent and Issuing Bank and Lender

By:   /s/ JAMES V. DUCOTE______________

Name  James V. Ducote

Title:   Managing Director

 

BANK OF AMERICA, N.A., as a Lender

 

By:   /s/ RAZA JAFFERI__________________

Name   Raza Jafferi

Title:   Vice President

ACKNOWLEDGMENT BY GUARANTORS

Each of the undersigned Guarantors hereby (i) consents to the terms and conditions of that certain Amendment to Credit Agreement dated as of June 19, 2015 (the “Amendment”), (ii) acknowledges and agrees that its consent is not required for the effectiveness of the Amendment, (iii) ratifies and acknowledges its respective Obligations under each Loan Document to which it is a party and affirms that the terms of its respective Guaranty guarantees, and will continue to guarantee, the Obligations, after giving effect to the Amendment, and (iv) represents and warrants that (a) no Default or Event of Default has occurred and is continuing, (b) it is in full compliance with all covenants and agreements pertaining to it in the Loan Documents, and (c) it has reviewed a copy of the Amendment.

COMSTOCK OIL & GAS HOLDINGS, INC.

COMSTOCK OIL & GAS - LOUISIANA, LLC

COMSTOCK OIL & GAS GP, LLC,

   By Comstock Resources, Inc., its sole member

COMSTOCK OIL & GAS, LP,

 

   By Comstock Oil & Gas GP, LLC,

   its general partner,

 

    By Comstock Resources, Inc., its sole member

 

By: /s/ ROLAND O. BURNS________________

Name:   Roland O. Burns

Title:   Chief Financial Officer

 

COMSTOCK OIL & GAS INVESTMENTS, LLC

 

By: /s/ ROLAND O. BURNS_________________

Name:   Roland O. Burns 

Title:   Managerfngn-ex101_258.htm

 

Exhibit 10.1

FINANCIAL ENGINES, INC. 

AMENDED AND RESTATED 

2009 STOCK INCENTIVE PLAN 

NOTICE OF RSU AWARD 

OUTSIDE DIRECTOR 

You have been granted the following Restricted Stock Units (“RSUs”) representing Common Stock of FINANCIAL ENGINES, INC. (the “Company”) under the Company’s Amended and Restated 2009 Stock Incentive Plan (the “Plan”). 

 

	
Name of Participant:
	
 
	
 

	
 
	
 
	
 

	
Total Number of RSUs Granted:
	
 
	
 

	
 
	
 
	
 

	
Date of Grant:
	
 
	
, 

	
 
	
 
	
 

	
Vesting Commencement Date:
	
 
	
, 

	
 
	
 
	
 

	
Vesting Schedule:
	
 
	
Each of the following four years from the Date of Grant, one-fourth (1/4) of the RSUs subject to this Award will vest on the earlier of (i) May 15 or (ii) the day prior to the Annual Meeting of Stockholders for that year, dependent upon your continuous Service from the Vesting Commencement Date. Notwithstanding the foregoing, the RSUs subject to this Award shall become vested if a Change in Control occurs with respect to the Company during your Service.

By your acceptance and the signature of the Company’s representative below, you and the Company agree that these RSUs are granted under and governed by the term and conditions of the Plan and the RSU Agreement (the “Agreement”), both of which are attached to and made a part of this document. 

By accepting this notice and agreement you further agree that the Company may deliver by e-mail all documents relating to the Plan or this Award (including without limitation, prospectuses required by the Securities and Exchange Commission) and all other documents that the Company is required to deliver to its security holders (including without limitation, annual reports and proxy statements). You also agree that the Company may deliver these documents by posting them on a website maintained by the Company or by a third party under contract with the Company. If the Company posts these documents on a website, it will notify you by e-mail. 

 

	
FINANCIAL ENGINES, INC.
	
 
	
Grantee, Outside Director

	
 
	
 
	
 

	
 
	
 
	
 

	
By: 
	
 
	
RAYMOND J SIMS
	
 
	
Signature

	
Title:
	
 
	
E.V.P. and Chief Financial Officer
	
 
	
 

	
 
	
 
	
Print name

 

 

 

Financial Engines, Inc. 

Form of Notice of RSU Award and Agreement – Outside Director 

Exhibit 10.1

 

FINANCIAL ENGINES, INC. 

AMENDED AND RESTATED 

2009 STOCK INCENTIVE PLAN 

RSU AGREEMENT 

 

	
Payment for RSUs
	
 
	
No cash payment is required for the RSUs you receive. You are receiving the RSUs in consideration for Services rendered by you.

	
 
	
 
	
 

	
Vesting
	
 
	
The RSUs that you are receiving will vest in installments, as shown in the Notice of RSU Award.

	
 
	
 
	
 

	
 
	
 
	
No additional RSUs vest after your Service as a Director has terminated for any reason.

	
 
	
 
	
 

	
Forfeiture
	
 
	
If your Service terminates for any reason, then your Award expires immediately as to the number of RSUs that have not vested before the termination date and do not vest as a result of termination. This means that the unvested RSUs will immediately be cancelled. You receive no payment for RSUs that are forfeited.

	
 
	
 
	
 

	
 
	
 
	
The Company determines when your Service terminates for this purpose and all purposes under the Plan and its determinations are conclusive and binding on all persons.

	
 
	
 
	
 

	
Nature of RSUs
	
 
	
Your RSUs are mere bookkeeping entries. They represent only the Company’s unfunded and unsecured promise to issue Shares on a future date. As a holder of RSUs, you have no rights other than the rights of a general creditor of the Company. The Committee in its sole discretion may substitute a cash payment in lieu of Shares, such cash payment to be equal to the Fair Market Value of the Shares on the date that such Shares would have otherwise been issued under the terms of the Plan.

	
 
	
 
	
 

	
No Voting Rights or Dividends
	
 
	
Your RSUs carry neither voting rights nor rights to dividends. You, or your estate or heirs, have no rights as a stockholder of the Company unless and until your RSUs are settled by issuing Shares. No adjustments will be made for dividends or other rights if the applicable record date occurs before your Shares are issued, except as described in the Plan.

	
 
	
 
	
 

	
Acceptance of Award
	
 
	
This Award Agreement is one of the documents governing this RSU Award, which you may accept or reject online through the third party maintaining the Company’s stock award website. If you have not rejected this Award by the time of the first vesting event, you will be deemed to have accepted this Award, and the Shares vested pursuant to the Award will be issued and taxed accordingly.

	
 
	
 
	
 

	
RSUs Nontransferable
	
 
	
You may not sell, transfer, assign, pledge or otherwise dispose of any RSUs. For instance, you may not use your RSUs as security for a loan. If you attempt to do any of these things, your RSUs will immediately become invalid.

	
 
	
 
	
 

	
Settlement of RSUs
	
 
	
Each of your vested RSUs will be settled as soon as practicable after it vests. At the time of settlement, you will receive one Share for each vested RSU; provided, however, that no fractional Shares will be issued or delivered pursuant to the Plan or this Agreement, and the Committee will determine whether cash will be paid in lieu of any fractional Share or whether such fractional Share and any rights thereto will be canceled, terminated or otherwise eliminated. In addition, the Shares are issued to you subject to the condition that the issuance of the Shares not violate any law or regulation.

	
 
	
 
	
 

	
 
	
 
	
In the event of death, the vested portion of the Award shall be delivered to the executor or administrator of your estate or, if none, by the person(s) entitled to receive the vested Award under your will or the laws of descent or distribution.

	
 
	
 
	
 

	
 
	
 
	
In no event will the RSUs be settled later than 2-1/2 months after the end of the calendar year in which the RSUs become vested (or if later, 2-1/2 months after the end of the taxable year of the Company in which the RSUs become vested).

	
 
	
 
	
 

Financial Engines, Inc. 

Form of Notice of RSU Award and Agreement – Outside Director 

Exhibit 10.1

 

	
Withholding Taxes and Stock Withholding
	
 
	
Regardless of any action the Company takes with respect to any or all income tax, social insurance, payroll tax or other tax-related withholding (the “Tax-Related Items”), you acknowledge that the ultimate liability for all Tax-Related Items legally due by you is and remains your responsibility and that the Company (1) makes no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of this Award, including the grant and vesting of the Award, the issuance of Shares upon settlement of the Award, the subsequent sale of Shares acquired pursuant to the Award and the receipt of any dividends or other distributions, if any; and (2) does not commit to structure the terms of the grant or any aspect of the Award to reduce or eliminate your liability for Tax-Related Items.

	
 
	
 
	
 

	
Restrictions on Resale
	
 
	
You agree not to sell any Shares at a time when applicable laws, Company policies or an agreement between the Company and its underwriters prohibit a sale. This restriction will apply as long as your Service continues and for such period of time after the termination of your Service as the Company may specify.

	
 
	
 
	
 

	
No Retention Rights
	
 
	
Neither your Award nor this Agreement gives you the right to continue as a Director, or to become employed or retained by the Company or a subsidiary of the Company in any capacity. The Company and its subsidiaries reserve the right to terminate your Service at any time, with or without cause.

	
 
	
 
	
 

	
Adjustments
	
 
	
In the event of a stock split, a stock dividend or a similar change in Company Shares, the number of RSUs covered by this Award shall be adjusted pursuant to the Plan.

	
 
	
 
	
 

	
Successors and Assigns
	
 
	
Except as otherwise provided in the Plan or this Agreement, every term of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective heirs, legatees, legal representatives, successors, transferees and assigns.

	
 
	
 
	
 

	
Notice
	
 
	
Any notice required or permitted under this Agreement shall be given in writing and shall be deemed effectively given upon the earliest of personal delivery, receipt or the third full day following mailing with postage and fees prepaid, addressed to the other party hereto at the address last known in the Company’s records or at such other address as such party may designate by ten (10) days’ advance written notice to the other party hereto.

	
 
	
 
	
 

	
Applicable Law
	
 
	
This Agreement will be interpreted and enforced under the laws of the State of Delaware (without regard to their choice-of-law provisions). For purposes of litigating any dispute that arises directly or indirectly from the relationship of the parties evidenced by this grant or this Agreement, the parties hereby submit to and consent to the exclusive jurisdiction of the State of California and agree that such litigation shall be conducted only in the courts of the County of Santa Clara, California, or the federal courts for United States for the Northern District of California, and no other courts, where this grant is made and/or to be performed.

	
 
	
 
	
 

	
Section 409A
	
 
	
To the fullest extent applicable, benefits payable under this Agreement are intended to be exempt from the definition of “nonqualified deferred compensation” under Section 409A of the Code. To the extent that any such benefit is or becomes subject to Section 409A due to a failure to qualify for an exemption from the definition of nonqualified deferred compensation, this Agreement is intended to comply with the applicable requirements of Section 409A with respect to such benefits. This Agreement shall be interpreted and administered to the extent possible in a manner consistent with the foregoing statement of intent, and any ambiguity as to its compliance with Section 409A will be read in such a manner so that all benefits hereunder comply with Section 409A of the Code.

	
 
	
 
	
 

	
The Plan and Other Agreements
	
 
	
The text of the Plan is incorporated in this Agreement by reference. All capitalized terms in this Agreement shall have the meanings assigned to them in the Plan. This Agreement and the Plan constitute the entire understanding between you and the Company regarding this Award. Any prior agreements, commitments or negotiations concerning this Award are superseded. This Agreement may be amended by the Committee without your consent; however, if any such amendment would materially impair your rights or obligations under the Agreement, this Agreement may be amended only by another written agreement, signed by you and the Company.

BY ACCEPTING THIS AGREEMENT, 

YOU AGREE TO ALL OF THE TERMS AND CONDITIONS 

DESCRIBED ABOVE AND IN THE PLAN. 

Financial Engines, Inc. 

Form of Notice of RSU Award and Agreement – Outside Director

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00248-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00248-of-00352.parquet"}]]