Document:

exv10w1

Exhibit 10.1

EXTENDED TERM A FACILITY AGREEMENT

dated as of November 14, 2011

among

CSC HOLDINGS, LLC,

as the Company,

THE LENDERS PARTY HERETO,

BANK OF AMERICA, N.A.,

as Administrative Agent,

MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED

as Lead Arranger,

BARCLAYS BANK PLC,

CITIBANK, N.A.,

DEUTSCHE BANK SECURITIES INC.,

GOLDMAN SACHS BANK USA,

JPMORGAN CHASE BANK, N.A.,

MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED,

MORGAN STANLEY BANK, N.A.,

NATIXIS,

ROYAL BANK OF CANADA,

THE ROYAL BANK OF SCOTLAND PLC.

SCOTIABANC INC.,

SUNTRUST BANK,

UBS SECURITIES LLC,

and

U.S. BANK NATIONAL ASSOCIATION,

as Joint Bookrunners,

BANK OF AMERICA, N.A.,

BARCLAYS BANK PLC,

CITIBANK, N.A.,

DEUTSCHE BANK TRUST COMPANY AMERICAS,

GOLDMAN SACHS BANK USA,

JPMORGAN CHASE BANK, N.A.,

MORGAN STANLEY BANK, N.A.,

NATIXIS,

ROYAL BANK OF CANADA,

THE ROYAL BANK OF SCOTLAND PLC.

SCOTIABANC INC.,

SUNTRUST BANK,

UBS SECURITIES LLC,

and

U.S. BANK NATIONAL ASSOCIATION,

as Senior Managing Agents

 

 

EXTENDED TERM A FACILITY AGREEMENT

     THIS EXTENDED TERM A FACILITY AGREEMENT (this “Agreement”), is dated as of November
14, 2011, among CSC HOLDINGS, LLC (formerly known as CSC HOLDINGS, INC.), a Delaware limited
liability company (the “Company”), the lenders which are parties hereto (together with
their respective successors and assigns, the “Extended Facility Lenders”), and BANK OF
AMERICA, N.A., as Administrative Agent (the “Administrative Agent”).

     WHEREAS, the Company, certain of its subsidiaries named therein, the several lenders whose
names are set forth on the signature pages thereof, and the Administrative Agent have entered into
that certain Credit Agreement, dated as of February 24, 2006, amended and restated in its entirety
as of May 27, 2009 and further amended and restated in its entirety as of April 13, 2010 (as
amended, supplemented or otherwise modified from time to time in accordance with the terms thereof,
the “Credit Agreement”; unless the context otherwise requires or unless otherwise defined
herein, all capitalized terms used in this Agreement shall have the meanings ascribed thereto in
the Credit Agreement), which Credit Agreement grants the Company, certain applicable Lenders and
the Administrative Agent an option to increase one or more separate tranches of commitments or
loans as well as establish one or more separate tranches of commitments and loans by extending all
or a portion of an existing tranche of commitments or loans subject, among other things, to the
execution and delivery of an Extended Facility Agreement substantially in the form hereof;

     WHEREAS, the Company has requested certain of the undersigned Extended Facility Lenders to
increase their Term A-3 Loans in the amounts specified on Schedule I, and each of such Lenders is
willing to so increase their Term A-3 Loans by such specified amount; and

     WHEREAS, the Company has requested each of the undersigned Extended Facility Lenders to extend
the maturity of, and make such other changes as agreed herein to, a portion of their Term A-3 Loans
equal to the amount of the increase in each such Lenders Term A-3 Loans, and each such Lender is
willing to so extend such portion of their Term A-3 Loans into a new Extended Term A-4 Facility to
effect such agreed changes, all as set forth herein;

     NOW, THEREFORE, pursuant to Section 2.13 and Section 2.16 of the Credit
Agreement, and in consideration of the mutual covenants and agreements herein contained, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto covenant and agree as
follows:

     Section 1 Term A-3 Facility Increase. Effective as of the Extended Facility Closing
Date (which, in accordance with the Credit Agreement, is the date upon which the conditions
precedent set forth in Section 5 below shall have been met), each of the undersigned Lenders agree
that their commitment to make Term A-3 Loans shall increase by the amount set forth on Schedule
I for such Lender and, on the Extended Facility Closing Date, each such Lender shall provide
Term A-3 Loans in the amount of its agreed increase in accordance with Section 2.13(e) of
the Credit Agreement.

     Section 2 The Extended Facility. Subject to the terms and conditions set forth herein
and in the Credit Agreement, each Extended Facility Lender severally agrees to extend the

 

 

maturity date and, if applicable, the amortization schedule of the Facility described on
Schedule I (the “Prior Facility”) on the Extended Facility Closing Date in the
amount and percentage described on Schedule I, such extended Facility, the “Extended
Facility”. The Extended Facility shall have the designation set forth on Schedule I.

     Section 3 Repayment of Extended Facility Loans. Unless repayment is required on an
earlier date in accordance with the terms of the Credit Agreement, the Company shall repay to the
Extended Facility Lenders the aggregate principal amount of all Extended Facility Loans outstanding
hereunder on the following dates in the respective amounts set forth opposite such dates based upon
the specified percentage of the Original Principal Amount of the Extended Facility (which amounts
shall be reduced as a result of the application of prepayments in accordance with the order of
priority set forth in Section 2.04 of the Credit Agreement):

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Principal	 	 	 	 	 	 
	 	 	Amortization Payment	 	 	 	 	 	Principal
	 	 	(shown as a % of	 	 	 	 	 	Amortization Payment
	 	 	Original Principal	 	 	 	 	 	(shown as a % of Original
	Date	 	Amount)	 	Date	 	Principal Amount)
	March 31, 2013
	 	 	1.25	%	 	March 31, 2015	 	 	2.50	%
	June 30, 2013
	 	 	1.25	%	 	June 30, 2015	 	 	2.50	%
	Sept. 30, 2013
	 	 	1.25	%	 	Sept. 30, 2015	 	 	2.50	%
	Dec. 31, 2013
	 	 	1.25	%	 	Dec. 31, 2015	 	 	2.50	%
	March 31, 2014
	 	 	2.50	%	 	March 31, 2016	 	 	5.00	%
	June 30, 2014
	 	 	2.50	%	 	June 30, 2016	 	 	5.00	%
	Sept. 30, 2014
	 	 	2.50	%	 	Sept. 30, 2016	 	 	5.00	%
	Dec. 31, 2014
	 	 	2.50	%	 	Dec. 31, 2016	 	Outstanding Principal Balance
	 
	 	 	 	 	 	 	 	 	 	Total: 100.00%

provided, that, as provided in the table above, the final principal repayment installment
of the Extended Facility Loans shall be repaid on December 31, 2016 (such date the “Maturity
Date” for the Extended Facility) and in any event shall be in an amount equal to the aggregate
principal amount of all Extended Facility Loans outstanding on such date.

     Section 4 Extended Facility Extension Fee. The Company shall pay to the Extended
Facility Lenders hereunder, from the date hereof until the Extended Facility has been paid in full,
an extension fee (the “Extension Fee”) with respect to the Extended Facility, which, at any
time, shall be the percentage per annum on the aggregate outstanding principal amount under such
Extended Facility, with such percentage being equal to the excess of (a) the applicable percentage
per annum set forth below determined by reference to the Cash Flow Ratio as set forth in the most
recent Compliance Certificate received by the Administrative Agent pursuant to Section 7.01(d) of
the Credit Agreement over (b) the Applicable Rate in effect for the Extended Facility:

 

 

	 	 	 	 	 
	Cash Flow Ratio:	 	Percentage:
	≥ 4.00:1
	 	 	2.50	%
	< 4:00:1, but ≥ 3.25:1
	 	 	2.25	%
	< 3.25:1, but ≥ 2.75:1
	 	 	2.00	%
	< 2.75:1, but ≥ 2.25:1
	 	 	1.75	%
	< 2.25:1
	 	 	1.50	%

	 	 	Any increase or decrease in the applicable percentage described in clause (a) above
resulting from a change in the Cash Flow Ratio shall become effective as of the first
Business Day immediately following the date a Compliance Certificate is delivered pursuant
to Section 7.01(d) of the Credit Agreement; provided, however, that
if a Compliance Certificate is not delivered when due in accordance with such Section, then
the highest percentage set forth in the table above shall apply in respect of the Extended
Facility as of the first Business Day after the date on which such Compliance Certificate
was required to have been delivered. The Extension Fee shall be due and payable quarterly
in arrears on the last Business Day of each March, June, September and December, commencing
with the first such date to occur after the Extended Facility Closing Date, upon any
prepayment or payment of the Extended Facility Loans, whether voluntary or involuntary, or
by acceleration or otherwise, based upon the principal amount of such Loans then being
prepaid, and on the Maturity Date for the Extended Facility. The Extension Fee shall be
computed in accordance with Section 2.09 of the Credit Agreement. Notwithstanding
anything herein to the contrary, until the Company has delivered a Compliance Certificate
for the fiscal quarter ending June 30, 2012 pursuant to Section 7.01(d) of the
Credit Agreement, but in any event no later than August 29, 2012, the applicable percentage
described in clause (a) above shall remain at 2.00%, subject to the same proviso set forth
in this Section 4 above.

     Section 5 Conditions Precedent to Extending the Prior Facility. The obligation of
each Extended Facility Lender to increase and extend its Term A-3 Loans under the Prior Facility
hereunder, and the occurrence of the Extended Facility Closing Date, is subject to the satisfaction
of the following conditions precedent on or prior to the date of the extension of the Prior
Facility, but in any event prior to November 30, 2011:

     (a) Execution of Extended Facility Agreement and Extended Facility Notes. The
Administrative Agent’s receipt of the following, each of which shall be originals,
facsimiles or electronic copies (followed promptly by originals) unless otherwise specified,
each properly executed by a Responsible Officer of the Company, each dated the Extended
Facility Closing Date and each in form and substance reasonably satisfactory to the
Administrative Agent and each of the Extended Facility Lenders:

     (i) this Agreement duly executed and delivered by each of the Company, the
Extended Facility Lenders and the Administrative Agent;

 

 

     (ii) an Extended Facility Note substantially in the form attached hereto on
Schedule II executed by the Company in favor of each Extended Facility
Lender requesting an Extended Facility Note.

     (iii) a certificate of a Responsible Officer of each Loan Party in compliance
with Section 2.13(e) of the Credit Agreement (i) certifying and attaching the
resolutions adopted by such Loan Party approving or consenting to the increase of
the Term A-3 Loans provided for in Section 1 above and the extension provided for in
Section 2 above, and (ii) in the case of the Company, certifying that, before and
after giving effect to such increase in Term A-3 Loans and the extension provided
for in Section 2 above, (A) the representations and warranties contained in
Article VI and the other Loan Documents are true and correct on and as of
the Extended Facility Closing Date, except to the extent that such representations
and warranties specifically refer to an earlier date, in which case they are true
and correct as of such earlier date, with the representations and warranties
contained in subsections (a) and (b) of Section 6.04 of the Credit Agreement
being deemed to refer to the most recent statements furnished pursuant to clauses
(b) and (a), respectively, of Section 7.01 of the Credit Agreement, and (B)
no Default exists or would result from such increase or extension; and

     (iv) a Committed Loan Notice requesting the additional Term A-3 Loans in the
aggregate amount of the increase provided for in Section 1 above.

     (b) Signatures. The Company shall have certified to the Administrative Agent
(with copies to be provided for each Extended Facility Lender) the name and signature of
each of the persons authorized to sign on its behalf this Agreement. The Extended Facility
Lenders may conclusively rely on such certifications until they receive notice in writing
from the Company to the contrary.

     (c) Proof of Action. The Administrative Agent shall have received certified
copies of all necessary action taken by the Company to authorize the execution, delivery and
performance of this Agreement (to the extent not provided pursuant to clause (a) above).

     (d) Opinions of Counsel to the Company. The Extended Facility Lenders shall
have received favorable opinions of:

     (i) Victoria D. Salhus, Esq., Senior Vice President, Deputy General Counsel and
Secretary for the Company; and

     (ii) Sullivan & Cromwell LLP, special New York counsel to the Company;

covering such matters as the Administrative Agent or any Extended Facility Lender or counsel
to the Administrative Agent may reasonably request (and for purposes of such opinions such
counsel may rely upon opinions of counsel in other jurisdictions, provided that such
other counsel are reasonably satisfactory to special New York counsel to the

 

 

Administrative Agent and such other opinions state that the Administrative Agent and the
Extended Facility Lenders are entitled to rely thereon).

     (e) Opinion of Extended Facility Lenders’ Counsel. Each Extended Facility
Lender shall have received a favorable opinion of Pillsbury Winthrop Shaw Pittman LLP,
special New York counsel to the Administrative Agent, covering such matters as the
Administrative Agent or any Extended Facility Lender may reasonably request.

     (f) Other Documents. Such other documents, filings, instruments and papers
relating to the documents referred to herein and the transactions contemplated hereby as the
Administrative Agent or any Extended Facility Lender or special New York counsel to the
Administrative Agent shall reasonably require shall have been received by the Administrative
Agent.

     (g) Certain Fees. All fees required to be paid to the Administrative Agent,
the Lead Arranger and the Extended Facility Lenders on or before the Extended Facility
Closing Date shall have been paid. Unless waived by the Administrative Agent, the Company
shall have paid all fees, charges and disbursements of counsel to the Administrative Agent
to the extent properly invoiced prior to or on the Extended Facility Closing Date, plus such
additional amounts of such fees, charges and disbursements as shall constitute its
reasonable estimate of such fees, charges and disbursements incurred or to be incurred by it
through the closing proceedings (provided that such estimate shall not thereafter
preclude a final settling of accounts between the Company and the Administrative Agent).

Without limiting the generality of the provisions of Section 9.04 of the Credit Agreement,
for purposes of determining compliance with the conditions specified in this Section 4,
each Extended Facility Lender that has signed this Agreement shall be deemed to have consented to,
approved or accepted or to be satisfied with, each document or other matter required thereunder to
be consented to or approved by or acceptable or satisfactory to an Extended Facility Lender unless
the Administrative Agent shall have received notice from such Extended Facility Lender prior to the
proposed Extended Facility Closing Date specifying its objection thereto (but without waiving any
rights resulting from any inaccuracy or misrepresentation contained in any document required to be
delivered hereby).

     Section 6 Accession. Pursuant to Section 2.16 of the Credit Agreement, a Term
A Lender may become an Extended Facility Lender hereunder by entering into an accession agreement
in the form of Exhibit B hereto with the Company and acknowledged by the Administrative
Agent, with such changes thereto as are reasonably acceptable to the Administrative Agent (such
agreement, the “Accession Agreement”) without the need for further action by any other
Person.

     Section 7 Terms Incorporated. All of the terms and conditions of the Credit Agreement
are hereby incorporated in this Agreement by reference thereto as fully and to the same extent as
if set forth herein.

 

 

     Section 8 Counterparts. This Agreement 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.

     Section 9 GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.

[Signature Pages Follow]

 

 

     IN WITNESS WHEREOF, the parties hereto have caused this Extended Term A Facility Agreement to
be duly executed as of the day and year first above written.

	 	 	 	 	 
	 	CSC HOLDINGS, LLC

 	 
	 	By 	/s/
Kevin Watson	 
	 	 	Name:  	Kevin Watson	 
	 	 	Title:  	Senior Vice President & Treasurer	 
	 

EXTENDED TERM A FACILITY AGREEMENT

 

 

	 	 	 	 	 
	 	BANK OF AMERICA, N.A.,

as Administrative Agent

 	 
	 	By 	/s/ Michael Makaitis	 
	 	 	Name:  	Michael Makaitis	 
	 	 	Title:  	Vice President	 
	 

EXTENDED TERM A FACILITY AGREEMENT

 

 

[Signature
Pages of each Extended Facility Lender are on file with the
Administration Agent]

EXTENDED TERM A FACILITY AGREEMENT

 

 

SCHEDULE I

TO

EXTENDED TERM A FACILITY AGREEMENT

	I.	 	PRIOR FACILITY: Term A-3 Facility

	II.	 	EXTENDED FACILITY LOANS AND APPLICABLE PERCENTAGES:

[On file with the Administrative Agent]

	 	 	 	 	 	 	 
	 	 	 	 	 	 	% of Extended
	Extended Facility	 	Increased Term A-3	 	Extended Term A Facility	 	Term A-4
	Lenders	 	Facility Loans	 	Loans (Term A-4)	 	Facility
	 

	 	 

	 	 

	 	 
 
	 

	 	 

	 	 

	 	 
 
	 

	 	 

	 	 

	 	 
 
	 

	 	 

	 	 

	 	 
 
	 

	 	 

	 	 

	 	 
 
	 

	 	 

	 	 

	 	 
 
	 

	 	 

	 	 

	 	 
 
	 

	 	 

	 	 

	 	 
 
	 

	 	 

	 	 

	 	 
 
	 

	 	 

	 	 

	 	 
 
	 

	 	 

	 	 

	 	 
 
	 

	 	 

	 	 

	 	 
 
	 

	 	 

	 	 

	 	 
 
	 

	 	 

	 	 

	 	 
 
	Total:
	 	$600,000,000.00
	 	$600,000,000.00
	 	100%

	III.	 	EXTENDED FACILITY DESIGNATION: Term A-4 Facility

 

 

EXHIBIT A

TO

EXTENDED TERM A FACILITY AGREEMENT

FORM OF TERM A-4 NOTE

_____________________

FOR VALUE RECEIVED, the undersigned (the “Company”) hereby promises to pay to
_____________________ or registered assigns (the “Lender”), in accordance with the
provisions of the Agreement (as hereinafter defined), the principal amount of each Term A-4 Loan
made by the Lender to the Company under that certain Credit Agreement, dated as of February 24,
2006, amended and restated as of May 27, 2009 and further amended and restated as of April 13,
2010, among the Company, the Restricted Subsidiaries named therein, the Lenders which are parties
thereto and Bank of America N.A., as Administrative Agent, Collateral Agent and L/C Issuer (as
amended, restated, extended, supplemented or otherwise modified in writing from time to time, the
“Agreement;” the terms defined therein being used herein as therein defined).

The Company promises to pay interest on the unpaid principal amount of each Term A-4 Loan from the
date of such Loan until such principal amount is paid in full, at such interest rates and at such
times as provided in the Agreement. All payments of principal and interest shall be made to the
Administrative Agent for the account of the Lender in Dollars in immediately available funds at the
Administrative Agent’s Office. If any amount is not paid in full when due hereunder, such unpaid
amount shall bear interest, to be paid upon demand, from the due date thereof until the date of
actual payment (and before as well as after judgment) computed at the per annum rate set forth in
the Agreement.

This Note is one of the Notes referred to in the Agreement, is entitled to the benefits thereof and
may be prepaid in whole or in part subject to the terms and conditions provided therein. This Note
is also entitled to the benefits of the Guaranty and is secured by the Collateral. Upon
the occurrence and continuation of one or more of the Events of Default specified in the Agreement,
all amounts then remaining unpaid on this Note shall become, or may be declared to be, immediately
due and payable all as provided in the Agreement. Term A-4 Loans made by the Lender shall be
evidenced by one or more loan accounts or records maintained by the Lender in the ordinary course
of business. The Lender may also attach schedules to this Note and endorse thereon the date, amount
and maturity of its Loans and payments with respect thereto.

The Company, for itself, its successors and assigns, hereby waives diligence, presentment, protest
and demand and notice of protest, demand, dishonor and non-payment of this Note.

 

 

THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

	 	 	 	 	 	 	 

	 	 	CSC HOLDINGS, LLC	 	 
	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	Name:
	 	 

	 	 
	 

	 	Title:
	 	 

	 	 
	 

	 	 	 	 

	 	 

 

 

LOANS AND PAYMENTS with respect thereto

	 	 	 	 	 	 	 	 	 
	 	 	 	 	Amount of	 	Outstanding	 	 
	 	 	 	 	Principal or	 	Principal	 	 
	 	 	Amount of	 	Interest Paid	 	Balance This	 	Notation
	Date	 	Loan Made	 	This Date	 	Date	 	Made By
	 

	 	 

	 	 

	 	 

	 	 
 
	 

	 	 

	 	 

	 	 

	 	 
 
	 

	 	 

	 	 

	 	 

	 	 
 
	 

	 	 

	 	 

	 	 

	 	 
 
	 

	 	 

	 	 

	 	 

	 	 
 
	 

	 	 

	 	 

	 	 

	 	 
 
	 

	 	 

	 	 

	 	 

	 	 
 
	 

	 	 

	 	 

	 	 

	 	 
 
	 

	 	 

	 	 

	 	 

	 	 
 
	 

	 	 

	 	 

	 	 

	 	 
 
	 

	 	 

	 	 

	 	 

	 	 
 
	 

	 	 

	 	 

	 	 

	 	 
 
	 

	 	 

	 	 

	 	 

	 	 
 
	 

	 	 

	 	 

	 	 

	 	 
 
	 

	 	 

	 	 

	 	 

	 	 
 
	 

	 	 

	 	 

	 	 

	 	 
 
	 

	 	 

	 	 

	 	 

	 	 
 
	 

	 	 

	 	 

	 	 

	 	 
 
	 

	 	 

	 	 

	 	 

	 	 
 

 

 

EXHIBIT B

TO

EXTENDED TERM A FACILITY AGREEMENT

FORM OF ACCESSION AGREEMENT

[Date]

To: The Company and the Administrative Agent under the Extended Facility Agreement defined below

Ladies and Gentlemen:

     Pursuant to Section 6 of the Extended Facility Agreement (the “Extended Facility Agreement”)
dated as of November 14, 2011 among CSC HOLDINGS, LLC, a Delaware limited liability company (the
“Company”), the lenders which are parties thereto (together with their respective
successors and assigns, the “Extended Facility Lenders”), and BANK OF AMERICA, N.A., as
Administrative Agent (the “Administrative Agent”), we confirm our agreement with you as
follows:

     1. Consent to Terms of Extended Facility Agreement.

     In accordance with Section 5 of the Extended Facility Agreement, the undersigned (the
“Additional Extended Facility Lender”) agrees with the Company, the Administrative Agent and the
other Extended Facility Lenders that on [_______], 20[__]1 (the “Accession Effective
Date”), the Additional Extended Facility Lender (a) is extending the maturity date of the Prior
Facility in the amount specified below their signature hereto, (b) shall be bound as an Extended
Facility Lender by all of the terms and conditions of, and to be entitled to the rights and
privileges under, the Extended Facility Agreement, and (c) shall perform all of the obligations of
an Extended Facility Lender under the Extended Facility Agreement in accordance with the terms
thereof.

     2. Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH
THE LAWS OF THE STATE OF NEW YORK.

     3. Definitions. Terms used but not defined herein have the meanings assigned to them
in the Extended Facility Agreement.

 

			
	1	 	Input the first scheduled amortization
payment date occurring on or after the date first set forth above.

 

 

     IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed and
delivered by their proper and duly authorized officers as of the day and year first above written.

	 	 	 	 	 
	 	Additional Extended Facility Lender

 	 
	 	By:  	 	 
	 	Name:  	 	 
	 	Title:  	 	 
	 

Amount to be treated as Extended Facility Loan: $_________________

ACCESSION AGREEMENT

 

 

	 	 	 	 	 	 	 

	 	 	Consented to as of [Date]	 	 
	 
	 	 	 	 	 	 
	 	 	CSC HOLDINGS, LLC,	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	Name:
	 	 

	 	 
	 

	 	Title:	 	 	 	 

ACCESSION AGREEMENT

 

 

	 	 	 	 	 

	Acknowledged as of [Date]	 	 
	 
	 	 	 	 
	BANK OF AMERICA, N.A.,

as Administrative Agent	 	 
	 
	 	 	 	 
	By:
	 	 	 	 
	Name:

	 	 

	 	 
	Title:
	 	 	 	 

ACCESSION AGREEMENTexv10w10

EXHIBIT 10.10

AMENDMENT NO. 1

TO THE

WOODWARD GOVERNOR COMPANY 2006 OMNIBUS INCENTIVE PLAN

The Woodward Governor Company 2006 Omnibus Incentive Plan, Effective January 25, 2006 (the
“Plan”), is hereby amended, effective as of January 26, 2011, as follows:

1. The Plan is hereby amended by substituting references to “Woodward 2006 Omnibus Incentive Plan”
for the references to “Woodward Governor Company 2006 Omnibus Incentive Plan” each place such
references appear on the Plan’s title page and in the heading immediately preceding Article 1 of
the Plan.

2. Section 1.1 of the Plan is hereby amended in its entirety to read as follows:

1.1 Establishment. Woodward, Inc. (f/k/a Woodward Governor
Company), a Delaware corporation (hereinafter referred to as the
“Company”), established an omnibus incentive plan, as set forth in
this document, effective as of January 25, 2006 (the Effective
Date”). Before January 26, 2011, this plan was known as the
Woodward Governor Company 2006 Omnibus Incentive Plan and on and
after January 26, 2011, following the Company’s name change, shall
be known as the Woodward 2006 Omnibus Incentive Plan (hereinafter
referred to as the “Plan”). The Plan shall remain in effect as
provided in Section 1.3 hereof.

This Plan permits the grant of Nonqualified Stock Options, Incentive
Stock Options, Stock Appreciation Rights, Restricted Stock,
Restricted Stock Units, Performance Shares, Performance Units,
Covered Employee Annual Incentive Awards, Cash-Based Awards, and
Other Stock-Based Awards.

3. Section 2.11 of the Plan is hereby amended in its entirety to read as follows:

	 	2.11	 	“Company” means Woodward, Inc. (f/k/a Woodward
Governor Company), a Delaware corporation, and any successor
thereto as provided in Article 21 herein.

4. Section 2.42 of the Plan is hereby amended in its entirety to read as follows:

	 	2.42	 	“Plan” means Woodward 2006 Omnibus Incentive
Plan.

 

 

5. The second paragraph of Section 8.4 of the Plan is hereby amended by substituting therein the
phrase “Woodward, Inc.” for the phrase “Woodward Governor Company” and the
phrase “Woodward 2006 Omnibus Incentive Plan” for the phrase “Woodward Governor Company 2006
Omnibus Incentive Plan.”

6. Except as set forth herein, the Plan shall remain in full force and effect.

Executed as of the 8th  day of November, 2011.

	 	 	 	 	 
	 	WOODWARD, INC.

 	 
	 	By:  	/s/ Robert F. Weber, Jr.
 	 
	 	 	Robert F. Weber, Jr. 	 
	 	 	Vice Chairman, Chief Financial Officer
and Treasurer

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