Document:

Exhibit

Exhibit 10.9

 SEVERANCE AND CONSULTING AGREEMENT AND GENERAL RELEASE

THIS SEVERANCE AND CONSULTING AGREEMENT AND GENERAL RELEASE (the “Agreement”) is entered into by and between Calumet GP, LLC (“Company”) and Timothy R. Barnhart (“Executive”) (individually, “Party”; and jointly, the “Parties”).

Recitals

A.Executive has been employed by the Company for many years and most recently served in the capacity of  Executive Vice President of Operations;   

B.Executive has chosen to resign his employment with the Company for personal reasons, effective on the Separation Date as defined below;  

C.The Company desires to secure the continuing assistance and cooperation of Executive in a consulting role on an as-needed basis during the one-year period succeeding the Separation Date, and Executive has agreed to provide such consulting services; and 

D. The Parties wish to terminate the employment relationship between the Company and Executive on amicable and certain terms as set forth in this Agreement.

Terms and Conditions

NOW, THEREFORE, in consideration of the promises and obligations contained in this Agreement, the sufficiency of which is hereby acknowledged, the Parties hereby agree as follows:

1.    Separation Date.  Executive’s employment with the Company shall terminate effective March 13, 2015 (“Separation Date”). 

2.       Severance Package.  In consideration for the promises made by Executive in this Agreement, the Company shall:

(a)    Provide Executive twelve (12) months of continuing salary, in the gross amount of Three Hundred and Eighteen Thousand Two Hundred and Seventy Dollars (318,270.00), paid in the normal course of the Company’s payroll,  subject to all  applicable employment taxes and withholdings, commencing with the first payroll after the “Effective Date” of this Agreement (as defined in Section 23 of this Agreement), retroactive to March 16, 2015, and continuing to April 15, 2016 (the “Severance Period”); 

(b)    Provide Executive with the same cash award (and no unit award) he would have received under the Company’s AIP Incentive Plan (referred to herein, with all underlying plans and documents, as the “AIP Plan”) for calendar year 2015  had he remained employed by the Company through December 31, 2015, on the same basis as existing Incentive Level 1 employees for the same period pursuant to the terms and conditions  of the AIP Plan, subject to required taxes and withholding, to be paid on the normal payment date in 2016 for existing Incentive Level 1 employees at that time; provided, however, that Executive will receive such cash award at the “target” level regardless whether the Company otherwise performs at or beyond such level in 2015;    

(c)    Reimburse Executive for twelve (12) months of COBRA insurance coverage (March 1, 2015 to February 29, 2016), provided that Executive is eligible for and timely elects such COBRA continuation coverage under the Company’s existing health insurance plan;  and

(d)    Provide Executive with free and clean title to his Company automobile (2013 Nissan Titan); provided, however, that Executive will be solely responsible for insuring said vehicle as his coverage under the Company’s automobile insurance program will terminate on the Separation Date. 
                

            The payments, benefits, and automobile specified above are hereinafter collectively referred to as the “Severance Package”.

3.    Consulting Obligations.  In consideration of the Severance Package, Executive shall provide continuing consulting services to the Company at the direction of the Board of Directors of the Company and the CEO or their designates on an as-needed basis during the Severance Period.  This consulting will be provided in good faith and be primarily aimed at assisting the Company in transitioning Executive’s previous duties and responsibilities to his functional successor or successors.  The consulting will include providing advice and counsel to the Company and Board as requested on an ongoing basis and may include the assignment of specific tasks and functions related thereto.  To the extent any such consulting requires travel or other reasonable business expenses to be incurred by Executive, the Company will reimburse Executive or provide arrangements or  payment for such travel and business expenses in advance. Executive shall also provide his reasonable cooperation in connection with any action or proceeding (or any appeal from any action or proceeding) or other legal matter, which relates to events occurring during Executive’s employment with the Company about which he has first-hand knowledge.   

4.    Complete Payment.  The Severance Package, to which Executive would not otherwise be entitled, shall constitute complete settlement and satisfaction of any and all present or potential claims for loss of salary, including any and all forms of compensation, commissions, bonuses, and benefits of employment, reinstatement, severance pay, compensatory damages, punitive damages, declaratory relief, interest, attorney’s fees, costs, other litigation fees, and any and all other forms of monetary or injunctive relief.  Executive hereby expressly acknowledges payment in full by the Company of any and all earned and unpaid compensation and benefits (including vacation pay) as of the Effective Date of this Agreement with the exception of any unpaid vested benefits inuring to him as the result of his former employment with the Company.  Apart from the Severance Package (subject to the terms and conditions herein), the Company shall have no continuing liability to Executive for any compensation, commissions, bonuses, incentive payments, phantom stock, equity interests, or benefits of employment except as otherwise provided in this Agreement.

5.    Vested Benefits Unaffected by Agreement.       Any entitlement to vested benefits by Executive flowing from any of the Company’s incentive, deferred compensation, pension, or other retirement plans shall be unaffected by this Agreement and remain fully subject to the terms and conditions of the plans at issue, including any pay-out amount and timing provisions, subject only to the termination of Executive’s employment as of the Separation Date.  Executive shall not be entitled to any further incentive, deferred compensation, pension, or other retirement plan benefits or Company contributions based on his receipt of the Severance Package except as otherwise provided in this Agreement. 

6.    Mutual Release of Claims.  (a) In consideration of the promises made by the Company in this Agreement, Executive hereby RELEASES AND FOREVER DISCHARGES the Company and its owners, directors, principals, executives, officers, agents, employees, subsidiaries, affiliates, successors, and assigns (collectively, the “Released Parties”) from any and all claims, demands, liabilities, actions, or causes of action which Executive had, has, or may have on account of, arising out of, or related to:  (i) Executive’s employment with the Company and the termination of that employment, including, without limitation, any and all claims, demands, liabilities, actions, or causes of action arising under Title VII of the Civil Rights Act of 1964, as amended; the Civil Rights Act of 1991; Sections 1981 through 1988 of Title 42 of the United States Code; the Employee Retirement Income Security Act of 1974; the Americans with Disabilities Act; the Age Discrimination in Employment Act; the Family and Medical Leave Act; the Occupational Safety and Health Act; the Lilly Ledbetter Fair Pay Act; the Equal Pay Act; the Indiana Civil Rights Act; Indiana’s payment-of-wages statutes; and any amendments thereto; and any and all other federal, state and local laws governing terms and conditions of employment, wages, hours, compensation, discrimination, and any and all other matters; and   (ii) any and all other matters occurring prior to the Effective Date of this Agreement.  Executive is hereby releasing each and every claim, known or unknown, contingent or actual, which Executive has or may have against the Released Parties, or any of them, as of the Effective Date, except the foregoing release does not extend to any claim for unpaid vested benefits or any claim that may not lawfully be released by private agreement; nor does it restrict Executive’s right to file a charge with any administrative or government agency or participate in an administrative or government agency investigation or proceeding.

(b) The Company hereby RELEASES AND FOREVER DISCHARGES Executive from any and all known or unknown disputes, actions, causes of actions, claims of law or in equity or sounding in contract and/or tort arising under common law, federal, state or local statute or ordinance arising out of his employment with the Company 

and the termination of that employment; provided, however, that this release shall not apply to any acts or omissions by Executive that were unlawful, unethical, or performed outside the scope of his employment with the Company.

7.    Covenant Not To Sue.  Executive promises and agrees not to file a lawsuit against the Released Parties or any of them with respect to any claim or cause of action released herein.  In the event that Executive violates this covenant, Executive understands and agrees that any such claim will be subject to dismissal with prejudice and further agrees to reimburse the Released Parties for their attorneys’ fees and costs incurred to secure such dismissal.
8.    Acknowledgement of Payment in Full.  Executive acknowledges receipt of payment in full for all compensation owed to Executive under federal and state law, except for the Severance Package (subject to the terms herein).   Executive further acknowledges that Executive is not aware of any facts or circumstances constituting a violation by the Company of the Fair Labor Standards Act or any other statute or law relating to his payment of wages or hours of work.

9.    Continuing Effect of Employment Agreement.   On or about May7, 2014, the Parties entered into an Employment Agreement governing the terms and conditions of Executive’s ongoing employment with the Company (“Employment Agreement”).  Pursuant to Section 25 of said Employment Agreement, the provisions of Sections 6, 8-13, and 23 therein and all related provisions necessary to interpret and enforce them were expressly intended to survive any termination of the Employment Agreement and any termination of the employment relationship.  The Parties to this Agreement understand and agree that such provisions will continue in full force and effect and will not be affected by this Agreement in any way; provided, however, that to the extent any such provision(s) conflict with any of the provisions of this Agreement, the conflicting language in this Agreement shall prevail. 
    
10.    Mutual Non-Disparagement.  (a) Executive specifically understands and agrees that Executive shall not disparage, demean, or otherwise communicate through any means, including social media, any information damaging or potentially damaging to the business or reputation of Released Parties or any of them to any third party, including, but not limited to, the media and business community and any past or present employees of the Company, without the express written consent of the Company.  It is understood and agreed by the Parties that this provision shall not apply to any information, complaint, or other communication that Executive may in good faith file with or communicate to any judicial or other governmental entity or agency concerning any of the Released Parties.

(b) The Company specifically understands and agrees that no Company executive or Board member who is familiar with the terms of this Agreement shall disparage, demean, or otherwise communicate through any means, including social media, any information damaging or potentially damaging to the business or reputation of Executive to any third party, including, but not limited to, the media and business community and any past or present employees of the Company, without the express written consent of the Executive.  

11    Waiver of Breach.  No act or omission by the Company shall be deemed a waiver by the Company of any of its rights under this Agreement.  Executive acknowledges that every situation is unique and the Company may need to respond differently to the actions by one employee or the facts of one situation than to the actions of another employee or the facts of another situation.  Therefore, the failure of the Company to enforce the same, similar, or different restrictions against Executive or another employee or to seek a different remedy shall not be construed as a waiver or estoppel to the enforcement of the Agreement’s restrictions against Executive.    

12.    No Relief from Claims.  Executive understands and agrees that, in the event that Executive files any claim against the Released Parties or any of them, this Agreement may operate to limit or preclude Executive’s entitlement to relief or recovery from such claim, including any costs or attorneys’ fees.
    
13.    Breach by Either Party. (a) Executive understands and agrees that a breach by Executive of any provision of this Agreement nullifies any obligation of the Company to continue making payments to him or on his behalf pursuant to Section 2 of this Agreement, and obligates Executive to return to the Company the automobile and all monies already paid out under Section 2 of this Agreement at the time of the breach except for One Thousand Dollars ($1000.00), and permits the Company to pursue any other legal or equitable relief to which it is otherwise entitled as the result of such breach.  Executive also understands and agrees that he will be responsible for payment of the Company’s attorneys’ fees incurred as a result of a successful effort to pursue legal action against Executive in connection with such breach. 

(b) The Company understands and agrees that a breach by the Company of any provision of this Agreement permits Executive to pursue any legal or equitable relief to which he is entitled as the result of such breach.  The Company also understands and agrees that it will be responsible for payment of Executive’s attorneys’ fees incurred as a result of a successful effort to pursue legal action against Executive in connection with such breach.

14.    No Admission of Liability by the Released Parties.  Executive agrees that neither this Agreement nor the furnishing of the consideration for this Agreement shall be deemed or construed at any time for any purpose as an admission by the Released Parties or any of them of any liability or unlawful conduct of any kind.

15.    Changes Must Be in Writing.  This Agreement may not be modified, altered, or changed except upon the express written consent of both Parties in which specific reference is made to this Agreement.

16.    Entire Agreement.  This Agreement sets forth the entire agreement between Executive and the Company with regard to Executive’s termination of employment and fully supersedes and invalidates any prior agreements or understandings between the Parties with regards to the same subject matter; provided, however, that any surviving provisions of the Employment Agreement as specified in Section 9 herein shall remain in in full force and effect and are hereby incorporated by reference herein.   Executive acknowledges that Executive has not relied on any representations, promises, or agreements of any kind made to Executive in connection with Executive’s decision to sign this Agreement, except for those set forth in this Agreement.

17.    Severability.  Each provision and individual covenant of this Agreement is severable.  If any court or other governmental body of competent jurisdiction shall conclude that any provision or individual covenant of this Agreement is invalid or unenforceable, such provision or individual covenant shall be deemed ineffective to the extent of such unenforceability without invalidating the remaining provisions and covenants hereunder.
    
18.    Successors Are Bound.  Each of the agreements and promises contained in this Agreement shall be binding upon, and shall inure to the benefit of, the heirs, executors, assignees, administrators, agents, and successors in interest to each of the Parties.
    
19.    Section Headings.  The section headings in this Agreement are inserted solely as a matter of convenience and for reference and, in the event of any conflict, the text of this Agreement, rather than the headings, will control.

20.    Counterparts.  This Agreement may be executed in one or more counterparts, each of which (including a facsimile or pdf attachment to e-mail thereof) shall be deemed an original, but which together shall constitute one and the same instrument.  The facsimile or pdf shall be admissible in any legal proceedings as if it were a manually signed original.
21.    Choice of Law and Venue.  This Agreement shall be interpreted in accordance with the laws of the State of Indiana.  Exclusive jurisdiction and venue over any and all disputes arising out of or in connection with this Agreement shall be in Marion County, Indiana, or in the United States District Court for the Southern District of Indiana.  

22.     Waiver of Jury Trial.  THE PARTIES HEREBY WAIVE THEIR RIGHT TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS AGREEMENT.  THE SCOPE OF THIS WAIVER IS INTENDED TO BE ALL-ENCOMPASSING OF ANY AND ALL DISPUTES THAT RELATE TO THIS AGREEMENT, INCLUDING, WITHOUT LIMITATION, CONTRACT CLAIMS, TORT CLAIMS, FRAUD CLAIMS, AND ALL OTHER COMMON LAW AND STATUTORY CLAIMS. 
    
23.    Right to Revoke for Seven (7) Days After Signing and Effective Date.  Executive may revoke this Agreement by giving written notice of such revocation to the Company at any time prior to seven (7) days following the date this Agreement is signed by Executive, and this Agreement shall not become effective or enforceable until the end of such revocation period (“Effective Date”).
    
24.    Review Period and Acknowledgment of Rights and Understandings.  Executive expressly agrees and acknowledges the following:  (a) that Executive understands the terms and conditions of this Agreement; (b) that Executive has knowingly and voluntarily entered into this Agreement; (c) that Executive has hereby been advised in writing to consult an attorney in connection with reviewing and entering into this Agreement; (d) that Executive has 

been given at least twenty-one (21) days to review and consider the original draft of this Agreement before signing this Agreement; and (e) that this Agreement, when signed by the Company and Executive, is legally binding upon both the Company and Executive, as well as their heirs, assigns, executors, administrators, agents, successors in interest, even if Executive decides not to consult with an attorney in connection with reviewing and entering into this Agreement or if Executive fails to utilize the full twenty-one (21) days given Executive for this purpose.
    
25.    Twenty-One (21) Day Review Period Not Increased by Changes.  Executive agrees that any modifications, material or otherwise, made to this Agreement do not restart or affect in any manner the original twenty-one (21) day consideration period set forth in Section 24 of this Agreement.
WHEREFORE, intending to be legally bound to each and all of the terms of this Agreement, the Parties hereby execute this Agreement this 13th day of March 2015. 

	
			
	TIMOTHY R. BARNHART
	 
	CALUMET GP, LLC

	 
	 
	 

	/s/ TIMOTHY R. BARNHART
	 
	/s/ F. WILLIAM GRUBE

	Signature
	 
	Signature

	 
	 
	 

	Timothy R. Barnhart
	 
	F. William Grube

	Printed Signature
	 
	Printed Signature

	“Executive”
	 
	 

	 
	 
	Chief Executive Officer

	 
	 
	Title

	 
	 
	“Company”Exhibit

Exhibit 10.11

FIRST AMENDMENT TO SECOND AMENDED AND RESTATED CREDIT AGREEMENT

THIS FIRST AMENDMENT TO SECOND AMENDED AND RESTATED CREDIT AGREEMENT (this "Amendment") is dated as of December 4, 2015 (the "Amendment Date"), and is executed by and among CALUMET SPECIALTY PRODUCTS PARTNERS, L.P., a Delaware limited partnership ("MLP Parent"), the Subsidiaries of MLP Parent listed as "Borrowers" on the signature pages hereto (together with MLP Parent and the Subsidiaries of MLP Parent listed as "Borrowers" on the signature pages hereto, collectively, the "Borrowers" and each individually a "Borrower"), the Lenders party hereto (which Lenders constitute at least Required Lenders), and BANK OF AMERICA, N.A., a national banking association, as agent for Lenders ("Agent").

R E C I T A L S:

A.    Borrowers, Guarantors (if any), Lenders and Agent are parties to that certain Second Amended and Restated Credit Agreement dated as of July 14, 2014 (the "Credit Agreement").

B.    Borrowers, Guarantors (if any), Required Lenders and Agent desire to amend the Credit Agreement to, among other things, allow for the sale of accounts by one or more Borrowers subject to the satisfaction of various requirements as set forth herein.

NOW, THEREFORE, for good and valuable consideration hereby acknowledged, the parties hereto hereby agree as follows:

SECTION 1.  DEFINITIONS
Section 1.1    Definitions.  Capitalized terms used but not defined in this Amendment shall have the meanings given to them in the Credit Agreement as amended hereby.
SECTION 2.      AMENDMENTS TO THE CREDIT AGREEMENT
Section 2.1    Amendments to Section 1.1 of the Credit Agreement.  
(a)    Amendment to the Definition of the Term "Eligible Account".  The definition of the term "Eligible Account" contained in Section 1.1 of the Credit Agreement is hereby amended (i) to delete the word "and" at the end of clause (p) of such definition, (ii) to delete the period at the end of clause (q) of such definition, (iii) to add a semicolon followed by the word "and" at the end of such clause (q) of such definition, and (iv) to add the following new clause (r) immediately following such clause (q) (thereby excluding the Accounts referred to such clause (r) from Eligible Accounts):
(r)    Accounts that are owed by an Account Debtor whose Accounts (or any of whose Accounts) have been or are subject to a Permitted Accounts Transaction (provided, however, that this clause (r) shall cease to apply as to such Accounts of such Account Debtor after Agent has received written evidence to its satisfaction that all Permitted Accounts Transactions involving the Accounts of such Account Debtor have been fully terminated and no agreement relating to any future sale of Accounts of such Account Debtor then exists (other than a continuing agreement of a Borrower to pay any indemnification or similar obligation with respect to a previously consummated Permitted Accounts Transaction), subject to subsequent application of this clause (r) thereafter).

(b)    Addition of Defined Term "Permitted Accounts Transaction" and Definition Thereof.  The following new defined term and its definition are hereby added to Section 1.1 of the Credit Agreement, which defined term shall appear in alphabetical order in Section 1.1 and which defined term and related definition shall read in their entirety as follows:
"Permitted Accounts Transaction" – a sale by a Borrower of Accounts of such Borrower, subject to the requirements of and as defined in Section 9.2.5.

Section 2.2    Amendment and Restatement of Section 9.2.5. Section 9.2.5 of the Credit Agreement is hereby amended and restated to read in its entirety as follows:
9.2.5    Dispositions.  Make any Disposition other than an Excluded Disposition (other than Permitted Investments involving the sale or other Disposition of Collateral, which Permitted Investments involving the sale or other Disposition of Collateral shall be subject to this Section 9.2.5), except the following:  

(a)    sales or other Dispositions of assets (other than Permitted Accounts Transactions and Sale and Leaseback Transactions) having an aggregate fair market value not to exceed during any Fiscal Year the greater of $15,000,000 or 1% of Consolidated Net Tangible Assets for the most recent Fiscal Year for which annual audited financial statements have been delivered to Agent in accordance with the terms hereof;

(b)    Sale and Leaseback Transactions involving Property not constituting Collateral (including, for the avoidance of doubt, metals or other elements, composites or alloys used as, or part of, a catalyst) with respect to assets having an aggregate fair market value, determined at the time of the consummation of each such transaction, not to exceed during any Fiscal Year the greater of $75,000,000 or 5% of Consolidated Net Tangible Assets for the most recent Fiscal Year for which annual audited financial statements have been delivered to the Agent in accordance with the terms hereof; 

(c)    Dispositions of Hydrocarbons in connection with any Structured Hydrocarbon Supply Arrangement; 

(d)    sales or other Dispositions of assets (other than Permitted Accounts Transactions) if (i) Availability (A) at all times during the 30-day period preceding such sale or other Disposition and (B) on the date of such sale or other Disposition and after giving effect thereto (including any reduction in the Borrowing Base to result therefrom), in each case, on a Pro Forma Basis, shall be greater than or equal to 15% of the Borrowing Base then in effect and (ii) if Availability as referred to in (i)(A) or (B) above is less than 22.5% of the Borrowing Base then in effect (which Availability under clause (i)(A) above shall be, for purposes of this clause (B) only, calculated on an average basis for such 30-day period), Borrower Agent shall have delivered to Agent a certificate demonstrating, based on adjustments made in good faith using reasonable assumptions, that, upon and after giving effect to such sale or other Disposition, the Fixed Charge Coverage Ratio on a Pro Forma Basis would be at least 1.0 to 1.0; and

(e)    Permitted Accounts Transactions;

provided, however, that, in connection with any sale or Disposition of Collateral (including, without limitation, any sale or other Disposition of Collateral which constitutes or is made in connection with a Permitted Investment but excluding any Permitted Accounts Transactions) and, except as stated in the proviso below, in connection with any sale or Disposition pursuant to Section 9.2.5(d):

(i)    Borrower Agent shall deliver to Agent, at least two Business Days prior to the consummation of each such sale or other Disposition which involves any Collateral, a then current Borrowing Base Certificate which gives effect thereto and such sale or other Disposition shall result in an immediate and automatic adjustment of the Borrowing Base to reflect such sale or other Disposition and, if necessary to ensure that the Revolver Usage does not exceed the Borrowing Base after giving effect thereto, Borrowers shall, prior to or concurrently with such consummation, repay the Obligations in an amount sufficient to eliminate such excess;

(ii)    at least 75% (or, in the case of any sale or other Disposition of any Property constituting Collateral, 100% with respect to such Collateral) of the consideration paid in connection therewith shall be in cash or, in the case of a sale or other Disposition not involving any Property constituting Collateral, Cash Equivalents, such payment to be contemporaneous with consummation of such transaction, and shall be in an amount not less than the fair market value of the Property disposed of;

(iii)    all sales or other Dispositions of Collateral between or among two or more Obligors shall be made expressly subject to the continuation of Agent's Lien on the Property being sold or otherwise Disposed of;

(iv)    no later than five Business Days prior to any such sale or other Disposition, Borrower Agent shall have delivered to Agent a certificate of a Senior Officer of Borrower Agent or its general partner specifying the anticipated date of such sale or other Disposition, briefly describing the assets to be sold or otherwise disposed of and setting forth the fair market value of such assets and the aggregate consideration and the Net Cash Proceeds to be received for such assets in connection with such Disposition;

(v)    Obligors shall remit all Net Cash Proceeds of any sale or other Disposition of Collateral to Agent for deposit into the Springing Dominion Account (if no Cash Dominion Trigger Event then exists) or into a Dominion Account (if a Cash Dominion Trigger Event then exists) of the applicable Obligors, and 

(vi)    Obligors shall apply all Net Cash Proceeds of any sale or other Disposition of Property not constituting Collateral, within 360 days after the receipt thereof and at the option of Borrower Agent, to make Investments consisting of an Acquisition permitted by Section 9.2.2, to make Capital Expenditures permitted by this Agreement, to acquire other 

long-term Property used or useful in a business not prohibited by this Agreement, or to repay Loans; and

(vii)    no Default or Event of Default exists at the time thereof or will arise as a result thereof; and

provided, further, however, that any sales or Dispositions (including sales or Dispositions of Collateral) pursuant to Section 9.2.5(d) shall not be required to comply with the requirements referred to in clause (ii) preceding.

Notwithstanding the foregoing, a Borrower may make one or more Dispositions of its Accounts from time to time if (but only if) each of the following requirements is satisfied with respect to such Disposition, in which case such Disposition shall constitute a "Permitted Accounts Transaction":

(A)    such Disposition shall be a "true sale" of the Accounts of such Borrower and pursuant to an arms-length transaction with a Person other than an Affiliate of such Borrower;

(B)    Borrower Agent shall notify Agent in writing, at least ten Business Days prior to such Borrower's execution and delivery of any agreement relating to such Disposition of Accounts, of the terms of such proposed Disposition in reasonable detail, which terms shall consist of (i) the identity of the Borrower that proposes to make such Disposition, (ii) the identity of the Account Debtor whose Accounts are proposed to be the subject of such Disposition, and (iii) the identity of the proposed purchaser of such Accounts, and Borrower Agent shall also provide to Agent any other information in reasonable detail as Agent may promptly, reasonably and subsequently (within five Business Days of Agent's receipt of such terms) request relating thereto;

(C)    if required by Agent, such Borrower, the purchaser of such Accounts and Agent shall have entered into an intercreditor agreement in form and substance reasonably satisfactory to Agent (which intercreditor agreement may, among other reasonable terms and provisions, provide that Agent and such purchaser shall turn over any proceeds of Accounts which rightfully belong to the other Person and provide that Agent's security interest in such Accounts to be sold shall be released automatically effective upon the consummation of the sale of such Accounts as permitted by clause (c) of Section 11.2.1);

(D)    at least two Business Days prior to the first such Disposition of Accounts of such Account Debtor, Borrower Agent shall have delivered to Agent a proforma of the then current Borrowing Base Certificate which shall exclude all Accounts of the Account Debtor whose Accounts are proposed to be sold pursuant to such Disposition (whether or not the Accounts of such Account Debtor are or may be sold pursuant to such Disposition or otherwise) from Eligible Accounts and, in the event that the Borrowing Base as so calculated pursuant thereto reflects that an Overadvance would exist after giving effect to the exclusion of all such Accounts from Eligible Accounts, Borrowers shall, prior to or concurrently with the consummation of such initial Disposition of Accounts, prepay the Revolver Loans and/or otherwise do what is necessary to eliminate such Overadvance; and

(E)    no Default or Event of Default will exist at the time of any such Disposition of Accounts or will arise as a result thereof.

SECTION 3.      CONDITIONS PRECEDENT
Section 3.1    Conditions Precedent.  The effectiveness of this Amendment is subject to the satisfaction of each of the following conditions precedent (except if and to the extent that any such condition precedent shall have been waived by Agent and Required Lenders in writing):
(a)    Agent shall have received this Amendment as executed by each of the parties hereto, which parties shall include all Borrowers, all Guarantors (if any), Agent and at least Required Lenders; and
(b)    Agent shall have received certified resolutions of the board of directors or other applicable governing body of each Borrower or Guarantor (if any) which authorize the execution, delivery and performance of this Amendment by all Borrowers and Guarantors.
SECTION 4.      MISCELLANEOUS
Section 4.1    Representations and Warranties.  Each of Obligors represents and warrants to Agent and Lenders that (a) all representations and warranties relating to such Obligor contained in the Credit Agreement or any other Credit Document are true and correct as of the date hereof as if made again on and as of the date hereof (except to the extent that such representations and warranties were expressly limited to another specific date, in which case they are true and correct as of such specific date), (b) no Default or Event of Default has occurred and is continuing (after giving effect to this Amendment), (c) such Obligor has all requisite corporate or other organizational power and authority (as applicable) to execute and deliver this Amendment, and (d) the execution and delivery of this Amendment by such Obligor has been duly authorized by all necessary corporate or other organizational action, and does not and will not violate or result in any breach or contravention of any Senior Notes Indenture or other material Contractual Obligation to which such Obligor is a party or subject, any Organization Document of such Obligor or any Applicable Law.  
Section 4.2    Ratifications.  Except as expressly modified and superseded by this Amendment, the terms and provisions of the Credit Agreement and other Credit Documents are ratified and confirmed and shall continue in full force and effect.  Obligors, Lenders and Agent agree that the Credit Agreement and other Credit Documents shall continue to be legal, valid, binding and enforceable in accordance with their terms except as enforceability may be limited by applicable Insolvency Proceedings and general principles of equity (whether enforcement is sought by proceedings in equity or at law).
Section 4.3    Reference to Credit Agreement, etc.  Each of the Credit Documents, including the Credit Agreement and any and all other agreements, documents or instruments now or hereafter executed and/or delivered pursuant to the terms hereof or pursuant to the terms of the Credit Agreement as amended hereby, is hereby amended so that any reference in such Credit Document to the Credit Agreement shall mean a reference to the Credit Agreement as amended hereby.  This Amendment shall constitute a Credit Document.
Section 4.4    Effect of Amendment.  Each Obligor hereby (a) agrees that this Amendment shall not limit or diminish the obligations of any Borrower or other Obligor under the Credit Agreement as amended hereby, or any other Credit Document, and (b) reaffirms all of its obligations under the Credit Agreement as amended hereby and each of the other Credit Documents.
Section 4.5    Severability.  If any provision of this Amendment is held to be illegal, invalid or unenforceable, (a) the legality, validity and enforceability of the remaining provisions of this Amendment shall not be affected or impaired thereby and (b) the parties hereto shall endeavor in good faith negotiations to replace the illegal, invalid or unenforceable provisions with valid provisions the economic effect of which 

is as close as possible to that of the illegal, invalid or unenforceable provisions.  The invalidity of a provision in a particular jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.
Section 4.6    Governing Law.  THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK (INCLUDING SECTION 5-1401 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK), WITHOUT GIVING EFFECT TO ANY CONFLICT OF LAW PRINCIPLES THAT WOULD REQUIRE THE APPLICATION OF ANOTHER LAW (BUT GIVING EFFECT TO FEDERAL LAWS RELATING TO NATIONAL BANKS).
Section 4.7    Successors and Assigns.  This Amendment is binding upon and shall inure to the benefit of Obligors, Lenders and Agent and their respective successors and permitted assigns, except that none of Obligors may assign or transfer any of its rights or delegate any of its duties or obligations hereunder without the prior written consent of Agent and Lenders.
Section 4.8    Counterparts; Electronic Signatures.  This Amendment may be executed in counterparts (and by different parties hereto in different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract.  Executed counterparts of a signature page to this Amendment may be delivered by facsimile or electronic messaging system, and if so delivered shall have the same force and effect as manually signed originals for all purposes.  
Section 4.9    Headings.  The headings and captions used in this Amendment are for convenience only and shall not affect the interpretation of this Amendment.
Section 4.10    Entire Agreement.  THIS AMENDMENT, THE CREDIT AGREEMENT AND ALL OTHER CREDIT DOCUMENTS REPRESENT THE FINAL AGREEMENTS BETWEEN OR AMONG THE PARTIES HERETO AND THERETO RELATING TO THE SUBJECT MATTER HEREOF AND THEREOF, AND MAY NOT BE CONTRADICTED OR VARIED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS OR DISCUSSIONS OF THE PARTIES HERETO OR THERETO.  THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN OR AMONG THE PARTIES HERETO OR THERETO.

Section 4.11    Costs and Expenses.  Borrowers agree to pay all reasonable out of pocket costs and expenses of Agent in connection with the preparation, execution and delivery of this Amendment, including, without limitation, the reasonable fees and expenses of Hunton & Williams LLP.

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

	
		
	 
	BORROWERS:

	 
	CALUMET SPECIALTY PRODUCTS PARTNERS, L.P., as a Borrower
By:   Calumet GP, LLC, its general partner
By:   /s/ R. PATRICK MURRAY, II
Name:   R. Patrick Murray, II
Title:   Executive Vice President and Chief Financial Officer

	
		
	 
	CALUMET LP GP, LLC, as a Borrower
By:   Calumet Operating, LLC, its sole member
By:    Calumet Specialty Products Partners, L.P., its sole member
By:   Calumet GP, LLC, its general partner
By:   /s/ R. PATRICK MURRAY, II
Name:   R. Patrick Murray, II
Title:   Executive Vice President and Chief Financial Officer

	
		
	 
	CALUMET OPERATING, LLC, as a Borrower
By:   Calumet Specialty Products Partners, L.P., its sole member
By:    Calumet GP, LLC, its general partner
By:      /s/ R. PATRICK MURRAY, II
Name:   R. Patrick Murray, II
Title:   Executive Vice President and Chief Financial Officer

	
		
	 
	CALUMET LUBRICANTS CO., LIMITED PARTNERSHIP, as a Borrower

By:   Calumet LP GP, LLC, its general partner
   By:   Calumet Operating, LLC, its sole member
      By:    Calumet Specialty Products Partners, L.P., 
      its sole member
         By:   Calumet GP, LLC, its general partner
By:   /s/ R. PATRICK MURRAY, II
Name:   R. Patrick Murray, II
Title:   Executive Vice President and 
   Chief Financial Officer

	 
	 

	
		
	   
	CALUMET SHREVEPORT LUBRICANTS & WAXES, LLC,
as a Borrower
By:   Calumet Lubricants Co., Limited Partnership, 
   its sole member
By:   Calumet LP GP, LLC, its general partner
By:   Calumet Operating, LLC, its sole member
By:   Calumet Specialty Products Partners, L.P., 
   its sole member
By:   Calumet GP, LLC, its general partner

By:/s/ R. PATRICK MURRAY, II
Name:   R. Patrick Murray, II
Title:  Executive Vice President and 
   Chief Financial Officer

	
		
	 
	CALUMET SHREVEPORT FUELS, LLC, as a Borrower
By:   Calumet Lubricants Co., Limited Partnership, its sole member
By:   Calumet LP GP, LLC, its general partner
By:   Calumet Operating, LLC, its sole member
By:   Calumet Specialty Products Partners, L.P., 
its sole member
By:   Calumet GP, LLC, its general partner

By:   /s/ R. PATRICK MURRAY, II
Name:   R. Patrick Murray, II
Title:   Executive Vice President and Chief Financial Officer

	
		
	 
	CALUMET SALES COMPANY INCORPORATED, as a Borrower
By:   /s/ JOHN R. KRUTZ
Name:  John R. Krutz
Title:   Vice President-Finance and Treasurer

	
		
	 
	CALUMET PENRECO, LLC, as a Borrower
By: Calumet Lubricants Co., Limited Partnership, its sole member
By:   Calumet LP GP, LLC, its general partner
By:   Calumet Operating, LLC, its sole member
By:    Calumet Specialty Products Partners, L.P., its sole member
By:   Calumet GP, LLC, its general partner
By:/s/ R. PATRICK MURRAY, II
Name:   R. Patrick Murray, II
Title:   Executive Vice President and Chief Financial Officer

	
		
	 
	CALUMET FINANCE CORP., as a Borrower
By:   /s/ JOHN R. KRUTZ
Name:   John R. Krutz
Title:   Vice President-Finance and Treasurer

	
		
	 
	CALUMET SUPERIOR, LLC, as a Borrower
By: Calumet Lubricants Co., Limited Partnership, its sole member
By:   Calumet LP GP, LLC, its general partner
By:   Calumet Operating, LLC, its sole member
By:    Calumet Specialty Products Partners, L.P., its sole member
By:   Calumet GP, LLC, its general partner
By:   /s/ R. PATRICK MURRAY, II
Name:   R. Patrick Murray, II
Title:   Executive Vice President and Chief Financial Officer

                    	
		
	 
	CALUMET MISSOURI, LLC, as a Borrower
By: Calumet Lubricants Co., Limited Partnership, its sole member
By:   Calumet LP GP, LLC, its general partner
By:   Calumet Operating, LLC, its sole member
By:    Calumet Specialty Products Partners, L.P., its sole member
By:   Calumet GP, LLC, its general partner
By:   /s/ R. PATRICK MURRAY, II
Name:   R. Patrick Murray, II
Title:   Executive Vice President and Chief Financial Officer

                    
	
		
	 
	CALUMET PACKAGING, LLC, as a Borrower
By: Calumet Lubricants Co., Limited Partnership, its sole member
By:   Calumet LP GP, LLC, its general partner
By:   Calumet Operating, LLC, its sole member
By:    Calumet Specialty Products Partners, L.P., its sole member
By:   Calumet GP, LLC, its general partner
By:   /s/ R. PATRICK MURRAY, II
Name:   R. Patrick Murray, II
Title:   Executive Vice President and Chief Financial Officer

	
		
	 
	ROYAL PURPLE, LLC, as a Borrower
By: Calumet Lubricants Co., Limited Partnership, its sole member
By:   Calumet LP GP, LLC, its general partner
By:   Calumet Operating, LLC, its sole member
By:    Calumet Specialty Products Partners, L.P., its sole member
By:   Calumet GP, LLC, its general partner
By:   /s/ R. PATRICK MURRAY, II
Name:   R. Patrick Murray, II
Title:   Executive Vice President and Chief Financial Officer

	
		
	 
	CALUMET MONTANA REFINING, LLC, as a Borrower
By: Calumet Lubricants Co., Limited Partnership, its sole member
By:   Calumet LP GP, LLC, its general partner
By:   Calumet Operating, LLC, its sole member
By:    Calumet Specialty Products Partners, L.P., its sole member
By:   Calumet GP, LLC, its general partner
By:   /s/ R. PATRICK MURRAY, II
Name:   R. Patrick Murray, II
Title:   Executive Vice President and Chief Financial Officer

	
		
	 
	CALUMET MONTANA REFINING, LLC, as a Borrower
By: Calumet Shreveport Fuels, LLC, its sole member 

   By: Calumet Lubricants Co., Limited Partnership, its sole            member
        By:   Calumet LP GP, LLC, its general partner
         By:   Calumet Operating, LLC, its sole member
         By:    Calumet Specialty Products Partners, L.P., its sole member
         By:   Calumet GP, LLC, its general partner
          By:   /s/ R. PATRICK MURRAY, II
          Name:   R. Patrick Murray, II
       Title:   Executive Vice President and Chief Financial Officer

    

	
		
	 
	BEL-RAY COMPANY, LLC, as a Borrower
By: Calumet Lubricants Co., Limited Partnership, its sole member
By:   Calumet LP GP, LLC, its general partner
By:   Calumet Operating, LLC, its sole member
By:    Calumet Specialty Products Partners, L.P., its sole member
By:   Calumet GP, LLC, its general partner
By:   /s/ R. PATRICK MURRAY, II
Name:   R. Patrick Murray, II
Title:   Executive Vice President and Chief Financial Officer

	
		
	 
	WELD CORPORATION, as a Borrower
By:   /s/ JOHN R. KRUTZ
Name:   John R. Krutz
Title:   Vice President-Finance and Treasurer

                    

	
		
	 
	ADF HOLDINGS, INC., as a Borrower
By:   /s/ JOHN R. KRUTZ
Name:   John R. Krutz
Title:   Vice President-Finance and Treasurer

                    

                    	
		
	 
	ANCHOR DRILLING FLUIDS USA, INC., as a Borrower
By:   /s/ JOHN R. KRUTZ
Name:   John R. Krutz
Title:   Vice President-Finance and Treasurer

	
		
	 
	CALUMET NORTH DAKOTA, LLC, as a Borrower
By:   Calumet Lubricants Co., Limited Partnership, its sole member
By:   Calumet LP GP, LLC, its general partner
By:   Calumet Operating, LLC, its sole member
By:   Calumet Specialty Products Partners, L.P., sole member
By:   Calumet GP, LLC, its general partner

By:  /s/ R. PATRICK MURRAY, II
Name:   R. Patrick Murray, II
Title:   Executive Vice President and Chief Financial Officer

	
		
	 
	KURLIN COMPANY, LLC, a Delaware limited liability company, as a Borrower
By:   /s/ JOHN R. KRUTZ
Name:   John R. Krutz
Title:   Vice President-Finance and Treasurer

	
		
	 
	ANCHOR OILFIELD SERVICES, LLC, as a Borrower
By:   /s/ JOHN R. KRUTZ
Name:   John R. Krutz
Title:   Vice President-Finance and Treasurer

	
		
	AGENT AND LENDERS:

	BANK OF AMERICA, N.A., as Agent, a Lender and an Issuing Bank
By:    /s/ HANCE VANBEBER
Name:   Hance VanBeber
Title:    Senior Vice President

	
		
	 
	WELLS FARGO BANK, NATIONAL
ASSOCIATION, as Co-Syndication agent and a Lender

By:    /s/ MARK BRADFORD
Name:   Hance VanBeber
Title:    Duly Authorized Signatory

	
		
	 
	JPMORGAN CHASE BANK, N.A., as Co-Syndication agent and a Lender

By:    /s/ KRISTI L. WEST
Name:   Kristi L. West
Title:    Authorized Officer

	
		
	 
	DEUTSCHE BANK TRUST COMPANY AMERICAS, as  a Lender

By:    /s/ CHRIS CHAPMAN
Name:  Chris Chapman
Title:    Director
By:    /s/ SHAI BANDNER
Name:   Shai Bandner
Title:    Vice President

	
		
	 
	PNC BANK, NATIONAL ASSOCIATION, as Co-Documentation agent and a Lender

By:    /s/ W. REED PADEN
Name:   W. Reed Paden
Title:    Vice President

	
		
	 
	U.S. BANK NATIONAL ASSOCIATION, as a Lender

By:    /s/ ROD SWENSON
Name:   Rod Swenson
Title:    Vice President

	
		
	 
	REGIONS BANK, as a Lender

By:    /s/ STEPHEN J. MCGREEVY
Name:   Stephen J. McGreevy
Title:    Managing Director

	
		
	 
	BARCLAYS BANK PLC, as a Lender

By:    /s/ VANESSA A. KURBATSKLY
Name:   Vanessa A. Kurbatskly
Title:    Vice President

	
		
	 
	NATIXIS, as  a Lender

By:    /s/ JARRETT C. PRICE
Name:  Jarrett C. Price
Title:    Director
By:    /s/ CARLOS QUINTEROS
Name:   Carlos Quinteros
Title:    Managing Director

	
		
	 
	COMPASS BANK, as a Lender

By:    /s/ MICHAEL SHEFF
Name:  Michael Sheff
Title:    Senior Vice President

	
		
	 
	GOLDMAN SACHS BANK USA, as a Lender

By:    /s/ MICHAEL LATZONI
Name:  Michael Latzoni
Title:    Authorized Signatory

	
		
	 
	ROYAL BANK OF CANADA, as a Lender

By:    /s/ JAY T. SARTAIN
Name:  Jay T. Sartain
Title:    Authorized Signatory

	
		
	 
	SIEMENS FINANCIAL SERVICES, as  a Lender

By:    /s/ JEFFREY B. IERVESE
Name:  Jeffrey B. Iervese
Title:    Vice President
By:    /s/ JOHN FINORE
Name:   John Finore
Title:    Vice President

	
		
	 
	BMO HARRIS BANK, N.A. as a Lender

By:    /s/ KARA GOODWIN
Name:  Kara Goodwin
Title:   Managing Director

	
		
	 
	THE BANK OF TOKYO-MITSUBISHI UFJ, as a Lender

By:    /s/ STEPHEN W. WARFEL
Name:  Stephen W. Warfel
Title:   Managing Director

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