Document:

Exhibit

Exhibit 10.1 

EXECUTION VERSION

AMENDMENT NO. 1 TO CREDIT AGREEMENT
THIS AMENDMENT NO. 1 TO CREDIT AGREEMENT (this “Amendment No. 1”) is entered into as of August 18, 2015 by and among Kohlberg Kravis Roberts & Co. L.P., a Delaware limited partnership (the “Borrower Representative”) and HSBC Bank USA, National Association, as administrative agent for the Lenders (the “Administrative Agent”).  
RECITALS:
WHEREAS, the Borrower Representative, KKR Fund Holdings L.P., a Cayman Islands exempted limited partnership, KKR Management Holdings L.P., a Delaware limited partnership, KKR International Holdings L.P., a Cayman Islands exempted limited partnership, as Borrowers, the other Borrowers from time to time party thereto, the Guarantors from time to time party thereto, the lending institutions from time to time party thereto and the Administrative Agent have entered into that certain Credit Agreement dated as of October 22, 2014 (as amended, restated, amended and restated, supplemented or otherwise modified, refinanced or replaced from time to time, the “Credit Agreement”); and
WHEREAS, pursuant to Section 10.02(b) of the Credit Agreement, the Administrative Agent and the Borrower Representative desire to amend the Credit Agreement to cure certain ambiguities, omissions, mistakes, defects or inconsistencies that are not adverse to any Lender.
NOW, THEREFORE, the parties hereto agree as follows:
Section 1.Defined Terms.  Capitalized terms which are used herein without definition and which are defined in the Credit Agreement shall have the same meanings herein as in the Credit Agreement.
Section 2.    Amendment to the Credit Agreement.  The definition of “Subsidiary” in the Credit Agreement is hereby amended and restated to read as follows:
““Subsidiary” means subsidiary of the Public Company that is or would be consolidated with the Public Company in the preparation of segment information included in the notes to the consolidated financial statements of the Public Company prepared in accordance with GAAP; provided that a Subsidiary shall not include (a) any investment funds, investment vehicles or separately managed accounts, (b) any portfolio company or portfolio investment of any such fund, investment vehicle or separately managed account (or any entity Controlled by a portfolio company or portfolio investment), (c) KFN and its subsidiaries and (d) CLOs or other principal investments managed, Controlled or held as investments by the Public Company or its Subsidiaries; provided, further that with respect to Section 3.11 only, clause (c) of the preceding proviso shall be included in the definition of Subsidiary.”
Section 3.    Effect of Amendment; No Novation. Except as expressly set forth herein, this Amendment No. 1 shall not by implication or otherwise limit, impair, constitute a waiver of, or otherwise affect the rights and remedies of the Lenders, the Administrative Agent or any other 

 
    

party under the Credit Agreement or any other Loan Document, and shall not alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Credit Agreement or any other Loan Document, all of which are ratified and affirmed in all respects and shall continue in full force and effect.  Nothing herein shall be deemed to entitle the Borrower Representative to a consent to, or a waiver, amendment, modification or other change of, any of the terms, conditions, obligations, covenants or agreements contained in the Credit Agreement as amended hereby or any other Loan Document in similar or different circumstances.
Section 4.    Effectiveness. This Amendment No. 1 shall become effective upon execution by the parties hereto without any further consent of any other party to the Credit Agreement.
Section 5.    Miscellaneous.
(a)    Expenses.  The Borrower Representative agrees to pay all reasonable and documented out-of-pocket expenses incurred by the Administrative Agent in connection with the preparation, execution and delivery of this Amendment No. 1, including, without limitation, the reasonable and documented fees of outside counsel for the Administrative Agent with respect thereto.
(b)    Counterparts.  This Amendment No. 1 may be executed counterparts (and by different parties hereto on different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract.  Delivery of an executed counterpart of a signature page of this Amendment No. 1 by telecopy or electronic transmission shall be effective as delivery of a manually executed counterpart of this Amendment No. 1.
(c)    Severability.  The illegality or unenforceability of any provision of this Amendment No. 1 or any instrument or agreement required hereunder shall not in any way affect or impair the legality or enforceability of the remaining provisions of this Amendment No. 1 or any instrument or agreement required hereunder.
(d)    Entire Agreement.  This Amendment No. 1 shall constitute the entire agreement of the parties hereto with respect to the subject matter hereof and supersedes all other understandings, oral or written, with respect to the subject matter hereof.
(e)    References.  Each reference in the Credit Agreement to “this Agreement”, “hereof”, “hereunder”, “herein” and “hereby” and each other similar reference, and each reference in any other Loan Document to “the Credit Agreement”, “thereof”, “thereunder”, “therein” or “thereby” or any other similar reference to the Credit Agreement shall, from the date hereof, refer to the Credit Agreement as amended hereby.  This Amendment No. 1 shall constitute a Loan Document for all purposes under the Credit Agreement.
(f)    Governing Law.  THIS AMENDMENT NO. 1 SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK.
[Remainder of page intentionally left blank.]

IN WITNESS WHEREOF, this Amendment No. 1 has been duly executed as of the date first written above.

BORROWER REPRESENTATIVE:
	
		
	KOHLBERG KRAVIS ROBERTS & CO. L.P.,  
as Borrower Representative 
 
By: KKR Management Holdings L.P.,  
its general partner 
 
By: KKR Management Holdings Corp.,  
its general partner

	By:
	/s/ David J. Sorkin

	 
	Name:   David J. Sorkin

	 
	Title:   Secretary

ADMINISTRATIVE AGENT:

	
		
	HSBC BANK USA, NATIONAL ASSOCIATION, as Administrative Agent

	By:
	/s/ Edward Soogrim

	 
	Name:   Edward Soogrim

	 
	Title:   Director

2Exh 101

		
			Exhibit 10.1
		

		
			 
		

		
			First Amendment to the Callon Petroleum Company 2011 Omnibus Incentive Plan
		

		
			 
		

		
			 
		

		
			WHEREAS, Callon Petroleum Company (the “Company”) maintains the Callon Petroleum Company 2011 Omnibus Incentive Plan (the “Plan”); and
		

		
			 
		

		
			WHEREAS, the Company reserved the right to amend the Plan in Article 21 thereof, and now desires to amend the Plan;
		

		
			 
		

		
			NOW, THEREFORE,  subject to approval of the Company’s stockholders as set out below, the Plan is hereby amended, effective as of May 14, 2015, as follows:
		

		
			 
		

		
			1. Section 2.26 is hereby amended, in its entirety, to read as follows:
		

		
			 
		

		
			2.26 “Extraordinary Items” means (a) extraordinary, unusual and/or nonrecurring items of gain or loss; (b) gains or losses on the disposition of a business; (c) changes in tax or accounting regulations or laws; or (d) the effect of a merger or acquisition, all of which must be identified in the audited financial statements, including footnotes, or the Management Discussion and Analysis section of the Company's annual report, pursuant to the then-current standards established by the U.S. Financial Accounting Standards Board.
		

		
			 
		

		
			2.  Section 4.1 is hereby amended, in its entirety, to read as follows:
		

		
			 
		

		
			4.1Number of Shares Authorized and Available for Awards.  Subject to adjustment as provided under the Plan, the total number of Shares constituting the Share Pool which is available for Awards under the Plan shall be equal to the sum of (a) Four Million Three Hundred Thousand (4,300,000) Shares, (b) any and all Shares that are available for awards under the Prior Plans as of the Effective Date that are not reserved for outstanding awards that were granted under the Prior Plans before the Effective Date, and (c) any and all Shares that may become available for awards under the Prior Plans on or after the Effective Date that were reserved for outstanding awards that were granted under the Prior Plans before the Effective Date, as provided in Section 4.2(b).
		

		
			 
		

		
			Any of the authorized Shares may be used for any type of Award under the Plan, and any or all of the available Shares may be allocated to Incentive Stock Options.
		

		
			 
		

		
			3. Section 4.2 is hereby amended, in its entirety, to read as follows:
		

		
			 
		

		
			4.2Calculation of Share Usage for Share Pool.  The Committee shall determine the number of Shares constituting the Share Pool that is available for grants of Awards under the Plan, subject to the following:
		

		
			 
		

			
	
			
				 (a)
			Any Shares related to an Award granted under the Plan that (1) terminate by expiration, forfeiture, cancellation or otherwise without the issuance of the Shares, (2) are settled in cash in lieu of Shares, or (3) are exchanged with the Committee’s permission, prior to the issuance of Shares, for Awards not involving Shares, shall again be available immediately for grants under this Plan.  Any Shares tendered or withheld in order to satisfy tax withholding obligations associated with the settlement of an Award (except with respect to an Option or SAR Award), shall again become available for grants under this Plan.

		
			 
		

		
			(b)Any Shares related to an Award previously granted under any Prior Plan prior to the Effective Date that, on or after the Effective Date, (1) terminate by expiration, forfeiture, cancellation or otherwise without the issuance of the Shares, are settled in cash in lieu of Shares, or (2) are exchanged with the Committee’s permission, prior to the issuance of Shares, for Awards not involving Shares, shall again be available for grants under this Plan.  Any Shares tendered or withheld in order to satisfy tax withholding obligations associated with the settlement of an 
		

		 

		

			 

		

 

		Award (except with respect to an Option or SAR Award), shall again become available for grants under this Plan.
		

		
			 
		

		
			4. The third from last paragraph of Section 14.2 is hereby amended, and the prior provisions that were in such paragraph have been deleted, such that Section 14.2 shall read, in its entirety, as follows:
		

		
			 
		

		
			The terms of the stated Performance Measures for each applicable Award, whether for a Performance Period of one (1) year or multiple years, must preclude the Committee's discretion to increase the amount payable to any Participant that would otherwise be due upon attainment of the Performance Measures, but may permit the Committee to reduce the amount otherwise payable to the Participant in the Committee's discretion.
		

		
			 
		

		
			5.  Article 17, Effect of a Change in Control, is hereby amended by the addition of the following new Section 17(d), which reads as follows:
		

		
			 
		

		
			(d)In the event of a Change in Control, accelerated vesting or accelerated payment of an Award shall occur only in the event of a “double-trigger”, i.e., there is separation from service of the Participant within a designated time period following the Change in Control as set out in the Award Agreement for such Participant.
		

		
			 
		

		
			Except as amended hereby, the Plan shall continue in full force and effect and the Plan and this First Amendment shall be read, taken and construed as one and the same instrument.
		

		
			 
		

		
			Executed effective for all purposes as provided above; provided, however, if this First Amendment is not approved by the stockholders of the Company at the 2015 Annual Meeting of Stockholders, this First Amendment shall not become effective.
		

		
			 
		

		
			 
		

		
			Callon Petroleum Company
		

		
			 
		

		
			 
		

		
			 
		

		
			By: /s/ Fred L. Callon
		

		
			Name: Fred L. Callon
		

		
			Title: Chairman, President, and Chief Executive Officer
		

		
			 
		

		 

		

			2

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00251-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00251-of-00352.parquet"}]]