Document:

EX-10.1

FIRST AMENDMENT TO CREDIT AGREEMENT

THIS FIRST AMENDMENT TO CREDIT AGREEMENT, dated as of September 12, 2005 (the
“Amendment”), is by and among DYCOM INDUSTRIES, INC., a Florida corporation (the
“Borrower”), those Domestic Subsidiaries of the Borrower identified as a “Guarantor” on the
signature pages hereto and such other Domestic Subsidiaries of the Borrower as may from time to
time become a party to the Credit Agreement referred to below (individually a “Guarantor”
and collectively the “Guarantors”), the Lenders party hereto and WACHOVIA BANK, NATIONAL
ASSOCIATION, as administrative agent for the Lenders (in such capacity, the “Administrative
Agent”).

W I T N E S S E T H

WHEREAS, the Borrower, the Guarantors, the lenders from time to time party thereto (the
“Lenders”) and the Administrative Agent are parties to that certain Credit Agreement dated
as of December 21, 2004 (as amended, modified, supplemented or otherwise modified through the date
hereof, the “Credit Agreement”; capitalized terms used herein shall have the meanings
ascribed thereto in the Credit Agreement);

WHEREAS, the Borrower has requested that the Required Lenders (on behalf of the Lenders) agree
to amend certain terms of the Credit Agreement; and

WHEREAS, the Required Lenders have agreed to such amendments of the Credit Agreement, subject
to the terms and conditions contained herein.

NOW, THEREFORE, in consideration of the agreements hereinafter set forth, and for other good
and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties
hereto agree as follows:

SECTION 1

AMENDMENTS TO CREDIT AGREEMENT

1.1 New Definitions. The following definitions are hereby added to Section 1.1 of the
Credit Agreement:

“First Amendment Effective Date” means September 8, 2005.

“Senior Subordinated Notes” means Indebtedness of Dycom Investments, Inc., a
Delaware corporation, a wholly-owned Subsidiary of the Borrower and a Guarantor under the
Credit Agreement, evidenced by those certain senior subordinated notes with a maturity not
earlier than eight (8) years after their issuance and in an aggregate principal amount not
to exceed $200,000,000, such Indebtedness to be on terms and conditions satisfactory to the
Administrative Agent.

“Stock Repurchase” means the repurchase by the Borrower of shares of its
Capital Stock with cash on hand, borrowings under the Credit Agreement and/or the proceeds
of the Senior Subordinated Notes, in an aggregate amount not to exceed $225,000,000;
provided that the amount of cash on hand and borrowings under the Credit Agreement
used to make such repurchases shall not exceed $75,000,000 in the aggregate.

1.2 Definition of Permitted Acquisition. The definition of Permitted Acquisition in
Section 1.1 of the Credit Agreement is hereby amended and restated as follows:

“Permitted Acquisition” means any acquisition or any series of related
acquisitions by a Credit Party of the assets or a majority of the Voting Stock of a Person
that is incorporated, formed or organized in the United States, or any division, line of
business or other business unit of a Person that is incorporated, formed or organized in the
United States (such Person or such division, line of business or other business unit of such
Person referred to herein as the “Target”), in each case that is a type of business
(or assets used in a type of business) permitted to be engaged in by the Credit Parties and
their Subsidiaries pursuant to Section 7.3 hereof, so long as (a) no Default or Event of
Default shall then exist or would exist after giving effect thereto, (b) the Credit Parties
shall demonstrate to the reasonable satisfaction of the Administrative Agent and the
Required Lenders that (i) the Credit Parties will be in compliance on a Pro Forma Basis with
all of the terms and provisions of the financial covenants set forth in Section 6.7 as of
the end of the most recently ended fiscal quarter and (ii) the Consolidated Leverage Ratio
shall be less than or equal to 2.75 to 1.0 after giving effect to such acquisition, (c) the
Target, if a Person, shall have executed a Joinder Agreement in accordance with the terms of
Section 6.9, if applicable, (d) the Target has earnings before interest, taxes, depreciation
and amortization for the most recent four fiscal quarters prior to the acquisition date for
which financial statements are available in an amount greater than $0, (e) such acquisition
is not a “hostile” acquisition and has been approved by the Board of Directors and/or
shareholders of the applicable Credit Party and the Target, (f) the Credit Parties shall
have complied to the reasonable satisfaction of the Administrative Agent with the
documentation requirements in Section 6.2(e) and (g) total consideration (including, without
limitation, assumed Indebtedness, earnout payments and any other deferred payment) for the
net assets, Capital Stock, division, line of business or other business unit acquired in
such acquisition or series of related acquisitions shall not exceed $100,000,000 unless (i)
100% of the consideration paid by the Credit Parties for such Target shall be in the form of
Capital Stock or (ii) after giving effect to such acquisition on a pro forma basis, the
Consolidated Leverage Ratio as of the last day of the immediately preceding fiscal quarter
is less than or equal to 1.75 to 1.0.

1.3 Definition of Subordinated Indebtedness. The definition of Subordinated
Indebtedness in Section 1.1 of the Credit Agreement is hereby amended and restated as follows:

“Subordinated Indebtedness” shall mean (a) the Senior Subordinated Notes and
(b) any other Indebtedness incurred by any Credit Party that by its terms is specifically
subordinated in right of payment to the prior payment of the Credit Party Obligations on
terms satisfactory to the Administrative Agent.

1.4 Amendment to Section 6.4(a). Section 6.4(a) of the Credit Agreement is hereby
amended and restated in its entirety to read as follows:

(a) (i) Preserve, renew and keep in full force and effect the corporate existence of
(A) each of the Credit Parties and (B) each Subsidiary that is not a Credit Party, where
such failure to preserve, renew and keep in full force and effect the corporate existence of
such Subsidiary could reasonably be expected to have a Material Adverse Effect and (ii) take
all reasonable action to maintain all rights, privileges, licenses and franchises necessary
or desirable in the normal conduct of its business other than any such rights, privileges,
licenses and franchises the loss of which would not, in the aggregate, reasonably be
expected to have a Material Adverse Effect.

1.5 Amendment to Section 6.7(a). Section 6.7(a) of the Credit Agreement is hereby
amended and restated in its entirety to read as follows:

(a) Consolidated Leverage Ratio: Maintain a Consolidated Leverage Ratio, which
shall be calculated at the end of each fiscal quarter, of (i) prior to the Stock Repurchase,
not greater than 2.75 to 1.0 and (ii) after the Stock Repurchase, not greater than 3.00 to
1.0.

1.6 Amendment to Section 6.7(c). Section 6.7(c) of the Credit Agreement is hereby
amended and restated in its entirety to read as follows:

(c) Consolidated Tangible Net Worth: Maintain Consolidated Tangible Net Worth,
which shall be calculated at the end of each fiscal quarter, of not less than (i) prior to
the Stock Repurchase, $200,000,000 plus 50% of Consolidated Net Income (if positive)
from the Closing Date to the date of computation plus 75% of the Equity Issuances
made from the Closing Date to the date of computation and (ii) after the Stock Repurchase,
$50,000,000 plus 50% of Consolidated Net Income (if positive) from the First
Amendment Effective Date to the date of computation plus 75% of the Equity Issuances
made from the First Amendment Effective Date to the date of computation.

1.7 Amendment to Section 7.1(i). Section 7.1(i) of the Credit Agreement is hereby
amended and restated in its entirety as follows:

(i) Indebtedness of the Borrower and its Subsidiaries in an amount not to exceed
$75,000,000 in the aggregate at any time outstanding; provided that no greater than
$10,000,000 of such Indebtedness may be secured at any time; and

1.8 Amendment to Section 7.1(j). Section 7.1(j) of the Credit Agreement is hereby
amended and restated in its entirety as follows:

(j) the Senior Subordinated Notes and any Guaranty Obligations of any Credit Party in
respect thereof.

1.9 Amendment to Section 7.9. Section 7.9 of the Credit Agreement is hereby amended
and restated in its entirety to read as follows:

7.9 Restricted Payments.

Each of the Credit Parties will not, nor will it permit any of its Subsidiaries to,
directly or indirectly, declare, order, make or set apart any sum for or pay any Restricted
Payment, except (a) to make dividends payable solely in the same class of Capital Stock of
such Person, (b) to make dividends or other distributions payable to any Credit Party
(directly or indirectly through Subsidiaries), (c) the Borrower may repurchase shares of its
Capital Stock with cash on hand, borrowings under the Credit Agreement and/or the proceeds
of the Senior Subordinated Notes, in an aggregate amount not to exceed $225,000,000;
provided that the amount of cash on hand and borrowings under the Credit Agreement
used to make such repurchases shall not exceed $75,000,000 in the aggregate, (d) the
Borrower may repurchase shares of its Capital Stock and/or make dividends or other
distributions so long as (i) no Default or Event of Default has occurred and is continuing
or would result therefrom and (ii) after giving effect to such payment on a pro forma basis,
(A) the Credit Parties would be in compliance with the financial covenants set forth in
Section 6.7 as of the last fiscal quarter end, (B) the Consolidated Leverage Ratio would be
less than 2.75 to 1.0 as of the last fiscal quarter end and (C) there would exist at least
$25,000,000 of availability under the Aggregate Revolving Committed Amount (which the
Borrower could borrow without causing an Event of Default) and (e) subject to the
subordination terms thereof, the Borrower may make regularly scheduled interest payments
under the Senior Subordinated Notes.

1.10 Amendment to Section 7.11. Section 7.11 of the Credit Agreement is hereby
amended and restated in its entirety to read as follows:

Each of the Credit Parties will not, nor will it permit any Subsidiary to, enter into,
assume or become subject to any agreement prohibiting or otherwise restricting the creation
or assumption of any Lien upon its properties or assets, whether now owned or hereafter
acquired, or requiring the grant of any security for such obligation if security is given
for some other obligation, except (a) pursuant to this Credit Agreement and the other Credit
Documents, (b) pursuant to any document or instrument governing Indebtedness incurred
pursuant to Sections 7.1(c), (i) or (j); provided that, (i) with respect to
Indebtedness incurred pursuant to Section 7.1(c), any such restriction contained therein
relates only to the asset or assets constructed or acquired in connection therewith and (ii)
with respect to Indebtedness incurred pursuant to Sections 7.1(i) and (j), any such
restriction shall not apply to this Credit Agreement or any other Credit Document, and (c)
in connection with any Permitted Lien or any document or instrument governing any Permitted
Lien, provided that any such restrictions contained therein relates only to the
asset or assets subject to such Permitted Lien.

1.11 Amendment to Section 8.1. Section 8.1 of the Credit Agreement is hereby amended
to include the following subsection (k):

(k) The Credit Party Obligations shall fail to constitute “senior debt,” “designated
senior debt” or a corresponding term under the terms of the Senior Subordinated Notes.

1.12 Amendment to Schedule 7.1(b). Schedule 7.1(b) of the Credit Agreement is hereby
replaced in its entirety by Appendix A attached hereto.

SECTION 2

CLOSING CONDITIONS

2.1 Conditions Precedent. This Amendment shall become effective as of the date first
above written upon satisfaction of the following conditions (in form and substance reasonably
acceptable to the Administrative Agent):

(a) Executed Amendment. Receipt by the Administrative Agent of a copy of this
Amendment duly executed by each of the Borrower, the Guarantors and the Required Lenders.

(b) Fees. Receipt by the Administrative Agent of (i) on behalf of each Lender
that executes this Amendment by 12:00 noon (EDT) on September 8, 2005, an amendment fee
equal to 10 basis points of such Lender’s Revolving Commitment and (ii) all fees and
expenses of the Administrative Agent in connection with the arrangement, preparation,
execution and delivery of this Amendment, including, without limitation, the fees and
expenses of Moore & Van Allen PLLC.

SECTION 3

MISCELLANEOUS

3.1 Amended Terms. The term “Credit Agreement” as used in each of the Credit
Documents shall hereafter mean the Credit Agreement as amended by this Amendment. Except as
specifically amended hereby or otherwise agreed, the Credit Agreement is hereby ratified and
confirmed and shall remain in full force and effect according to its terms.

3.2 Representations and Warranties of Credit Parties. Each Credit Party hereby
represents and warrants as follows:

(a) It has taken all necessary action to authorize the execution, delivery and
performance of this Amendment.

(b) This Amendment has been duly executed and delivered by such Person and constitutes
such Person’s legal, valid and binding obligations, enforceable in accordance with its
terms, except as such enforceability may be subject to (i) bankruptcy, insolvency,
reorganization, fraudulent conveyance or transfer, moratorium or similar laws of general
applicability relating to or affecting creditors’ rights and (ii) general principles of
equity (regardless of whether such enforceability is considered in a proceeding at law or in
equity).

(c) No consent, approval, authorization or order of, or filing, registration or
qualification with, any court or Governmental Authority or third party is required in
connection with the execution, delivery or performance by such Person of this Amendment.

(d) Both before and after giving effect to this Amendment, the representations and
warranties set forth in Article V of the Credit Agreement are, subject to the limitations
set forth therein, true and correct in all material respects as of the date hereof (except
for those which expressly relate to an earlier date, in which case, they are true and
correct in all material respects as of such earlier date).

(e) Both before and after giving effect to this Amendment, no Default or Event of
Default has occurred and is continuing.

3.3 Credit Document. This Amendment shall constitute a Credit Document under the
terms of the Credit Agreement and shall be subject to the terms and conditions thereof (including,
without limitation, Sections 11.14 and 11.17 of the Credit Agreement).

3.4 Entirety. This Amendment and the other Credit Documents embody the entire
agreement among the parties hereto and supersede all prior agreements and understandings, oral or
written, if any, relating to the subject matter hereof.

3.5 Counterparts; Telecopy. This Amendment may be executed in any number of
counterparts, each of which when so executed and delivered shall be an original, but all of which
shall constitute one and the same instrument. Delivery of an executed counterpart to this
Amendment by telecopy shall be effective as an original and shall constitute a representation that
an original will be delivered.

3.6 GOVERNING LAW. THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES
HEREUNDER SHALL BE GOVERNED BY AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE
OF NEW YORK.

[Signature Pages to Follow]

1

IN WITNESS WHEREOF, each of the parties hereto has caused a counterpart of this Amendment
to be duly executed and delivered as of the date first above written.

	 	 	 
	BORROWER:

	 	DYCOM INDUSTRIES, INC.,
	 

	 	

	
 
	 	a Florida corporation
	 
	 	 
	
 
	 	By:
	
 
	 	 
	
 
	 	Name: Richard L. Dunn

Title: Senior Vice President and Chief Financial Officer
	
 
	 	 
	 
	 	 
	GUARANTORS:

	 	ANSCO & ASSOCIATES, LLC,
	 

	 	

	
 
	 	a Delaware limited liability company
	 
	 	 
	
 
	 	APEX DIGITAL, LLC,

a Delaware limited liability company
	 
	 	 
	
 
	 	CABLECOM, LLC,

a Delaware limited liability company
	 
	 	 
	
 
	 	CAN-AM COMMUNICATIONS, INC.,

a Delaware corporation
	 
	 	 
	
 
	 	COMMUNICATIONS CONSTRUCTION GROUP, LLC,

a Delaware limited liability company
	 
	 	 
	
 
	 	DYCOM CAPITAL MANAGEMENT, INC.,

a Delaware corporation
	 
	 	 
	
 
	 	ERVIN CABLE CONSTRUCTION, LLC,

a Delaware limited liability company
	 
	 	 
	
 
	 	IVY H. SMITH COMPANY, LLC,

a Delaware limited liability company
	 
	 	 
	
 
	 	LAMBERTS CABLE SPLICING COMPANY, LLC,

a Delaware limited liability company
	 
	 	 
	
 
	 	By:
	
 
	 	 
	
 
	 	Name: Richard L. Dunn

Title: Treasurer

2

STAR CONSTRUCTION, LLC,

a Delaware limited liability company

TCS COMMUNICATIONS, LLC,

a Delaware limited liability company

UTILIQUEST, LLC,

a Georgia limited liability company

GLOBE COMMUNICATIONS, LLC,

a North Carolina limited liability company

S.T.S., LLC,

a Tennessee limited liability company

By:

Name: Richard L. Dunn

Title: Treasurer 

3

	 	 	 
	ADMINISTRATIVE AGENT

	 	

	 

	 	

	AND LENDERS:

	 	WACHOVIA BANK, NATIONAL ASSOCIATION,
	 

	 	

	
 
	 	individually in its capacity as a

Lender and in its capacity as Administrative Agent
	 
	 	 
	
 
	 	By:
	
 
	 	 
	
 
	 	Name:
	
 
	 	Title:

4

BANK OF AMERICA, N.A, as a Lender

By:

Name:

Title:

	 	 	 
	 
	 	 
	
 
	 	LASALLE BANK NATIONAL ASSOCIATION,

as a Lender
	 
	 	 
	
 
	 	By:
	
 
	 	 
	
 
	 	Name:
	
 
	 	 
	
 
	 	Title:
	
 
	 	 

	 	 	 
	 
	 	 
	
 
	 	HSBC BANK USA, NATIONAL

ASSOCIATION, as a Lender
	 
	 	 
	
 
	 	By:
	
 
	 	 
	
 
	 	Name:
	
 
	 	 
	
 
	 	Title:
	
 
	 	 

	 	 	 
	 
	 	 
	
 
	 	HARRIS TRUST AND SAVINGS BANK,

as a Lender
	 
	 	 
	
 
	 	By:
	
 
	 	 
	
 
	 	Name:
	
 
	 	 
	
 
	 	Title:
	
 
	 	 

	 	 	 
	 
	 	 
	
 
	 	SUNTRUST BANK, as a Lender
	 
	 	 
	
 
	 	By:
	
 
	 	 
	
 
	 	Name:
	
 
	 	 
	
 
	 	Title:
	
 
	 	 

5

BNP PARIBAS, as a Lender

By:

Name:

Title:

	 	 	 
	 
	 	 
	
 
	 	REGIONS BANK, as a Lender
	 
	 	 
	
 
	 	By:
	
 
	 	 
	
 
	 	Name:
	
 
	 	 
	
 
	 	Title:
	
 
	 	 

	 	 	 
	 
	 	 
	
 
	 	COMPASS BANK, as a Lender
	 
	 	 
	
 
	 	By:
	
 
	 	 
	
 
	 	Name:
	
 
	 	 
	
 
	 	Title:
	
 
	 	 

6STATE OF SOUTH CAROLINA

	
STATE OF SOUTH CAROLINA   )
	 
	 	
AGREEMENT AND GENERAL RELEASE

	
COUNTY OF SPARTANBURG    )
	 

 

THIS AGREEMENT made and entered as of this 12th day of September, 2005, by and between Synalloy Corporation (hereinafter referred to as the "Employer") and Ralph Matera (hereinafter, the "Employee").

WHEREAS, Employee is currently employed by the Employer in the position of President and Chief Executive Officer,

WHEREAS, Employee has decided that he will terminate his employment with Employer effective September 30, 2005, and thereafter render consulting services to Employer for a period of three (3) months;

WHEREAS, Employee recognizes and agrees that it shall be in the best interest of Employee and of the Employer that the terms and conditions of their agreements be expressly set forth.

NOW, THEREFORE, in consideration of the mutual covenants and promises hereinafter made by Employee and the Employer, and for other good and valuable consideration, the receipt and sufficiency of which are hereby expressly acknowledged by Employee and the Employer, it is agreed that:

	Effective September 30, 2005 (hereinafter referred to as the "Effective Date"), the employment relationship between Employee and the Employer shall be terminated. Until the Effective Date, Employee shall continue to be an employee of the Employer and participate in all benefit and other plans in which he is presently participating.  After the Effective Date, Employee will only be obligated to perform further services for the Employer in accordance with Paragraph 2 below.  Employee and the Employer further agree that the relationship created by this Agreement for the period of time after September 30, 2005, is purely contractual and that no employer-employee relationship is intended, nor shall such be inferred, from the performance of the Employee or the Employer under this Agreement.

	From October 1, 2005 through December 31, 2005 (the "Consulting Period"), Employee will perform such consulting services as may be reasonably requested by the Employer; provided, however, such services shall not require Employee to perform services during such period which exceed four hundred eighty (480) hours in the aggregate.  The Employer shall have sole discretion on whether or not to request or use the Employee as a consultant.  The Employer agrees to provide reasonable notice to Employee when such consulting services are needed.

	During the Consulting Period, the Employer shall pay to Employee, as payment for the consulting services which may be required under Paragraph 2 above, the releases contained herein and the non-compete agreement, the equivalent of three (3) months of Employee's regular base rate of pay which was in effect during September 2005.  Such payments shall be made in monthly increments on the last day of the calendar months of October, November and December 2005..  

	Employee's participation in all employee benefit plans will cease as of the Effective Date unless otherwise provided pursuant to federal law.  Employee acknowledges that on the day following the Effective Date, Employee will no longer be an employee of the Employer for purposes of all option plans and all options, not previously vested and exercised, will terminate as provided for in the applicable plans.

	It is agreed that except as set forth in this Agreement the Employer owes Employee no additional amounts for wages, bonuses, back pay, retirement, sick or other leave benefits, profit-sharing benefits, benefits under any other benefits plans, or any other amounts for any other reason.  Employee's company car benefit will terminate on Effective Date.  Employee shall be entitled, at Employee's option, by giving notice prior to the Effective Date, to purchase his Company vehicle at its current market value.

	The parties agree that Employee shall be responsible for any and all federal or state tax liability (including, but not limited to taxes, fines, penalties, and interest) which could arise as a result of any of the monetary payments set forth in Paragraph 3 above.

	In consideration of the Employer's payment as set forth above, and for other good and valuable consideration, Employee on his own behalf and behalf of his heirs, legal representatives, agents, successors-in-interest, and assigns hereby releases and forever discharges the Employer, its successors, assigns, parent corporations, subsidiaries, affiliated companies, insurers, its officers, agents, Board members, and employees from any and all claims, actions, suits, agreements, demands, or liabilities whatsoever, in law or in equity, whether known or unknown, which Employee has ever had or may now have, including, without limitation, any claim, action, or liability in connection with any privacy right, civil rights claim (including any claim under the Age Discrimination in Employment Act (ADEA); Title VII of the Civil Rights Act of 1964; 42 U.S.C. 1981; Americans with Disabilities Act (ADA); or any other state or federal law or regulation relating to employment discrimination), claim for emotional and/or mental stress, and any claim relating to Employee's employment with the Employer or his separation from employment, or pursuant to any other federal, state, or local laws, regulations, or requirements.

Without limiting the generality of the foregoing, Employee acknowledges and agrees that he has knowingly relinquished, waived, and forever released any and all remedies which might otherwise be available, including, without limitation, claims of back pay, liquidated damages, interest, costs, punitive damages, or attorney's fees, and claims for employment or reemployment with the Employer.

	Employee specifically agrees that the waiver in Paragraph 7 above includes any rights or claims for age discrimination or under the Age Discrimination in Employment Act which arose against the Employer on or before the execution of this Agreement.  In consideration of this wavier of rights under the ADEA, Employee acknowledges that he has accepted the consideration set forth herein and waives any right to contest or challenge, under the Age Act, 29 U.S.C. paragraph 626(f) or any other state or federal law, the adequacy of the consideration paid herein.  Employee was given a copy of this Agreement which includes this written directive from the Employer advising him to consult an attorney before signing and advising Employee that he had twenty-one (21) days in which to consider signing this Agreement, and further advising him that he had seven (7) days to revoke the Agreement after execution.

	The foregoing general release is an essential part of this Agreement and is in consideration of the Employer agreeing to make the payments provided in this Agreement.

	The parties agree not to disclose or make public any of the provisions of this Agreement except as may be necessary in connection with seeking legal or financial advice concerning this Agreement, responding to a subpoena or other required court process or with regard to the Employer, any filing which might be required with applicable public company reporting regulations.  In addition, either Employee or the Employer may report to state and federal tax authorities information set forth in this Agreement in conjunction with filing their respective tax returns or in responding to inquiries from state or federal tax officials.  Employee may disclose employment restrictions of this Agreement to state employment agencies as needed to file unemployment claims and to other recruitment agencies as necessary to find other employment in compliance with the restrictions of this Agreement.

	Employee agrees not to disclose or make public any confidential information regarding the Employer, including, but not limited to trade secrets, sale methods, customer visits, supply sources, strategic plans, operations, financial performance, intellectual property, or information regarding performance of individual personnel, except as may be necessary in connection with seeking legal or financial advice concerning this Agreement or responding to a subpoena or other required court process. 

	Employee agrees during the term of employment, during the Consulting Period and for a period of one (1) year beginning January 1, 2006, the Employee will not, without the prior written approval of the Employer become an officer, employee, agent, partner, or director of any business enterprise which competes with the Employer and/or its affiliates for customers, orders, supply sources, or contracts in those businesses in which the Employer and its affiliates were engaged on the date his employment terminated, unless Employee's activities for such business enterprise are limited in such a way that Employee is not engaged, directly or indirectly, in competition with the Employer or its affiliates for customers, orders, supply sources or contracts.  Employee acknowledges that the Employer is a leader in the chemical and metals businesses in which it manufactures and has substantial customer relationships throughout the world.

Employee further agrees that monetary damages will not be sufficient to remedy the harm to the Employer if the Employee breaches this agreement, and hereby consents to the entry of injunctive relief to enforce this non-compete.

	Employee understands and agrees that the Employer's obligation to perform under this Agreement is conditioned upon Employee's agreements and covenants to the Employer as set forth herein.

	This Agreement shall inure to and be binding upon the parties hereto, their respective heirs, legal representatives, successors, and assigns.

	This Agreement shall be construed in accordance with the laws of the State of South Carolina and any applicable federal laws.

	This Agreement, together with the benefits summary of even date herewith, constitutes the entire understanding of the parties, and no representation, promise, or inducement not included herein shall be binding upon the parties.

	This Agreement may not be changed orally, but only by an agreement in writing signed by the parties.

	The Employer represents that it has the authority to enter into this Agreement and that this Agreement has been duly authorized, executed and delivered by the Employer.

Employee affirms that he has carefully read this entire agreement and waiver of claims.  Employee attests that he fully understands the extent and impact of its provisions and that he has been afforded the opportunity to discuss it with an attorney of his choice.  Employee affirms that he is fully competent to execute this Agreement and that he does so voluntarily and without any coercion, undue influence, threat, or intimidation of any kind or type.

 

[Signatures Omitted]

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