Document:

exv10w3

Exhibit 10.3

DEUTSCHE BANK TRUST COMPANY AMERICAS

60 WALL STREET

NEW YORK, NEW YORK 10005

May 14, 2008

Wellman, Inc.

1041 521 Corporate Center Drive

Fort Mill, South Carolina 29715

Attention: Chief Financial Officer

and Treasurer and Chief Accounting Officer

Re: Wellman, Inc. Credit Agreement dated as of February 27, 2008

     Reference is hereby made to that certain Credit Agreement, dated as of February 27, 2008, by
and among Wellman, Inc. (the “Funds Administrator”) and the other Borrowers party thereto,
as debtors and debtors in possession, as Borrowers, the Lenders from time to time party thereto,
Deutsche Bank Trust Company Americas, as Administrative Agent (in such capacity, the
“Administrative Agent”) and Collateral Agent, and the other agents signatory thereto (as
amended, restated, supplemented, or otherwise modified from time to time, the “Credit
Agreement”). Capitalized terms used herein and not otherwise defined herein shall have the
meanings assigned to such terms in the Credit Agreement.

     The undersigned Administrative Agent, on behalf of the Majority Lenders, hereby consents to
the Funds Administrator’s request that Section 9.1(i)(xvi) of the Credit Agreement be modified by
replacing the text “on or before May 29, 2008” therein with the text “on or before June 5, 2008”.
Except as expressly amended hereby, the Credit Agreement continues in full force and effect and the
amendment set forth above shall be limited precisely as written.

[signature page follows]

 

 

	 	 	 	 	 	 	 
	 	 	Very truly yours,	 	 
	 
	 	 	 	 	 	 
	 	 	DEUTSCHE BANK TRUST COMPANY	 	 
	 	 	AMERICAS, as Administrative Agent	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Marguerite Sutton
	 	 
	 

	 	 	 	 	 	 
	 

	 	Title:
	 	Director	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Enrique Landaeta	 	 
	 

	 	 	 	 	 	 
	 

	 	Title:
	 	Vice President	 	 

Acknowledged and agreed as of

This 15 day of May, 2008

	 	 	 	 	 
	WELLMAN, INC.

	 
	 
	By:

	 	/s/ Keith Phillips
	 	 
	 

	 	 	 	 
	Title:

	 	Chief Financial Officer	 	 

Signature Page to Consentexv10w4

Exhibit 10.4

DEUTSCHE BANK TRUST COMPANY AMERICAS

60 WALL STREET

NEW YORK, NEW YORK 10005

May 21, 2008

Wellman, Inc.

1041 521 Corporate Center Drive

Fort Mill, South Carolina 29715

Attention: Chief Financial Officer

and Treasurer and Chief Accounting Officer

Re: Wellman, Inc. Credit Agreement dated as of February 27, 2008

     Reference is hereby made to that certain Credit Agreement, dated as of February 27, 2008, by
and among Wellman, Inc. (the “Funds Administrator”) and the other Borrowers party thereto,
as debtors and debtors in possession, as Borrowers, the Lenders from time to time party thereto,
Deutsche Bank Trust Company Americas, as Administrative Agent (in such capacity, the
“Administrative Agent”) and Collateral Agent, and the other agents signatory thereto (as
amended, restated, supplemented, or otherwise modified from time to time, the “Credit
Agreement”). Capitalized terms used herein and not otherwise defined herein shall have the
meanings assigned to such terms in the Credit Agreement.

     The undersigned Administrative Agent, on behalf of the Majority Lenders, hereby consents to
the Funds Administrator’s request that Section 9.1(i)(xvi) of the Credit Agreement be modified by
replacing the text “on or before June 5, 2008” therein with the text “on or before June 19, 2008”.
Except as expressly amended hereby, the Credit Agreement continues in full force and effect and
the amendment set forth above shall be limited precisely as written.

[signature page follows]

 

 

	 	 	 	 	 	 	 
	 	 	Very truly yours,	 	 
	 
	 	 	 	 	 	 
	 	 	DEUTSCHE BANK TRUST COMPANY	 	 
	 	 	AMERICAS, as Administrative Agent	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Marguerite Sutton
	 	 
	 

	 	 	 	 	 	 
	 

	 	Title:
	 	Director	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Enrique Landaeta	 	 
	 

	 	 	 	 	 	 
	 

	 	Title:
	 	Vice President	 	 

	 	 	 	 	 
	Acknowledged and agreed as of	 	 
	This 22 day of May, 2008	 	 
	 
	 	 	 	 
	WELLMAN, INC.	 
	 
	 	 	 	 
	By: 

Title:

	 	/s/ Keith R. Phillips
 

Chief Financial Officer
	 	 

Signature Page to Consentexv10w5

Exhibit 10.5

DEUTSCHE BANK TRUST COMPANY AMERICAS

60 WALL STREET

NEW YORK, NEW YORK 10005

June 5, 2008

Wellman, Inc.

1041 521 Corporate Center Drive

Fort Mill, South Carolina 29715

Attention: Chief Financial Officer

and Treasurer and Chief Accounting Officer

Re: Wellman, Inc. Credit Agreement dated as of February 27, 2008

     Reference is hereby made to that certain Credit Agreement, dated as of February 27, 2008, by
and among Wellman, Inc. (the “Funds Administrator”) and the other Borrowers party thereto,
as debtors and debtors in possession, as Borrowers, the Lenders from time to time party thereto,
Deutsche Bank Trust Company Americas, as Administrative Agent (in such capacity, the
“Administrative Agent”) and Collateral Agent, and the other agents signatory thereto (as
amended, restated, supplemented, or otherwise modified from time to time, the “Credit
Agreement”). Capitalized terms used herein and not otherwise defined herein shall have the
meanings assigned to such terms in the Credit Agreement.

     The undersigned Administrative Agent, on behalf of the Majority Lenders, hereby consents to
the Funds Administrator’s request that Section 9.1(i)(xvi) of the Credit Agreement be modified by
replacing the text “on or before June 19, 2008” therein with the text “on or before June 26,
2008”. Except as expressly amended hereby, the Credit Agreement continues in full force and effect
and the amendment set forth above shall be limited precisely as written.

[signature page follows]

 

 

	 	 	 	 	 	 	 
	 	 	Very truly yours,	 	 
	 
	 	 	 	 	 	 
	 	 	DEUTSCHE BANK TRUST COMPANY	 	 
	 	 	AMERICAS, as Administrative Agent	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Marguerite Sutton
	 	 
	 

	 	 	 	 	 	 
	 

	 	Title:
	 	Director	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ David J. Bell	 	 
	 

	 	 	 	 	 	 
	 

	 	Title:
	 	Managing Director	 	 

	 	 	 	 	 
	Acknowledged and agreed as of	 	 
	This 6 day of June, 2008	 	 
	 
	 	 	 	 
	WELLMAN, INC.	 	 
	 
	 	 	 	 
	By:

	 	/s/ Keith R. Phillips
	 	 
	 

	 	 	 	 
	Title:

	 	Chief Financial Officerexv10w7

Exhibit 10.7

DEUTSCHE BANK TRUST COMPANY AMERICAS

60 WALL STREET

NEW YORK, NEW YORK 10005

July 16, 2008

Wellman, Inc.

1041 521 Corporate Center Drive

Fort Mill, South Carolina 29715

Attention: Chief Financial Officer

and Treasurer and Chief Accounting Officer

Re: Wellman, Inc. Credit Agreement dated as of February 27, 2008

     Reference is hereby made to that certain Credit Agreement, dated as of February 27, 2008, by
and among Wellman, Inc. (the “Funds Administrator”) and the other Borrowers party thereto,
as debtors and debtors in possession, as Borrowers, the Lenders from time to time party thereto,
Deutsche Bank Trust Company Americas, as Administrative Agent (in such capacity, the
“Administrative Agent”) and Collateral Agent, and the other agents signatory thereto (as
amended, restated, supplemented, or otherwise modified from time to time, the “Credit
Agreement”). Capitalized terms used herein and not otherwise defined herein shall have the
meanings assigned to such terms in the Credit Agreement.

     The undersigned Administrative Agent, on behalf of the Majority Lenders, hereby consents to
the Funds Administrator’s request that the Lenders waive compliance with the minimum EBITDA
requirement for June 2008 set forth in Section 8.1(a) of the Credit Agreement be for the period
from July 16, 2008 through August 4, 2008. Except as expressly provided herein with respect to
Section 8.1 (a) of the Credit Agreement, (i) this letter shall not be construed as a consent,
waiver or other modification with respect to any term, condition, or any other provision of the
Credit Agreement or any other Loan Document, and each of the Loan Documents shall remain in full
force and effect, and (ii) neither this letter, nor any other communication between the
Administrative Agent and the Funds Administrator or any other Borrower shall be deemed to be a
waiver, modification, or release of any Default or Event of Default, whether such Default or Event
of Default arose or arises before, on or after the date hereof and whether or not known to the
Administrative Agent

[signature page follows]

 

 

	 	 	 	 	 	 	 
	 	 	Very truly yours,	 	 
	 
	 	 	 	 	 	 
	 	 	DEUTSCHE BANK TRUST COMPANY	 	 
	 	 	AMERICAS, as Administrative Agent	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Dusan Lazarov
	 	 
	 

	 	 	 	 	 	 
	 

	 	Title:
	 	Vice President	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Keith C. Braun	 	 
	 

	 	 	 	 	 	 
	 

	 	Title:
	 	Managing Director	 	 

	 	 	 	 	 
	Acknowledged and agreed as of	 	 
	This 18 day of July, 2008	 	 
	 
	 	 	 	 
	WELLMAN, INC.	 	 
	 
	 	 	 	 
	By:

	 	/s/ Keith R. Phillips
	 	 
	 

	 	 	 	 
	Title:

	 	Chief Financial Officer	 	 

Signature Page to Waiverexv10w8

Exhibit 10.8

DEUTSCHE BANK TRUST COMPANY AMERICAS

60 WALL STREET

NEW YORK, NEW YORK 10005

July 30, 2008

Wellman, Inc.

1041 521 Corporate Center Drive

Fort Mill, South Carolina 29715

Attention: Chief Financial Officer

and Treasurer and Chief Accounting Officer

Re: Wellman, Inc. Credit Agreement dated as of February 27, 2008

     Reference is hereby made to that certain Credit Agreement, dated as of February 27, 2008, by
and among Wellman, Inc. (the “Funds Administrator”) and the other Borrowers party thereto,
as debtors and debtors in possession, as Borrowers, the Lenders from time to time party thereto,
Deutsche Bank Trust Company Americas, as Administrative Agent (in such capacity, the
“Administrative Agent”) and Collateral Agent, and the other agents signatory thereto (as
amended, restated, supplemented, or otherwise modified from time to time, the “Credit
Agreement”). Capitalized terms used herein and not otherwise defined herein shall have the
meanings assigned to such terms in the Credit Agreement.

     The undersigned Administrative Agent, on behalf of the Majority Lenders, hereby consents to
the Funds Administrator’s request that Section 9.1(i)(xv) of the Credit Agreement be modified by
deleting the date “July 30, 2008” in sub clause (iv) thereof and replacing it with “August 4,
2008”.

     Except as expressly provided herein with respect to Section 9.1(i)(xv) of the Credit
Agreement, (i) this letter shall not be construed as a consent, waiver or other modification with
respect to any term, condition, or any other provision of the Credit Agreement or any other Loan
Document, and each of the Loan Documents shall remain in full force and effect, and (ii) neither
this letter, nor any other communication between the Administrative Agent and the Funds
Administrator or any other Borrower shall be deemed to be a waiver, modification, or release of any
Default or Event of Default, whether such Default or Event of Default arose or arises before, on or
after the date hereof and whether or not known to the Administrative Agent

[signature page follows]

 

 

	 	 	 	 	 	 	 
	 	 	Very truly yours,	 	 
	 
	 	 	 	 	 	 
	 	 	DEUTSCHE BANK TRUST COMPANY	 	 
	 	 	AMERICAS, as Administrative Agent	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Marguerite Sutton
	 	 
	 

	 	 	 	 	 	 
	 

	 	Title:
	 	Director	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Enrique Landaeta	 	 
	 

	 	 	 	 	 	 
	 

	 	Title:
	 	Vice President	 	 

	 	 	 	 	 
	Acknowledged and agreed as of	 	 
	This 31 day of July, 2008	 	 
	 
	 	 	 	 
	WELLMAN, INC.	 	 
	 
	 	 	 	 
	By:

	 	/s/ Keith R. Phillips
	 	 
	 

	 	 	 	 
	Title:

	 	Chief Financial Officer	 	 

Signature Page to Waiver

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