Document:

cie-ex101_89.htm

 

Exhibit 10.1

 

Cobalt International Energy, Inc.

Retention Bonus Agreement

Personal and Confidential

August 7, 2017

[Name]

Re: Retention Bonus

Dear [Name]:

On behalf of Cobalt International Energy, Inc. (the “Company”), I am pleased to offer you the opportunity to receive a retention bonus, if you agree to the terms and conditions contained in this Retention Bonus Agreement (this “Agreement”), which shall be effective as of the date set forth below in Section 6 (the “Effective Date”).    

1.Retention Bonus.  Subject to the terms and conditions set forth herein, you will receive a cash payment in the gross amount of [$______] (the “Retention Bonus”), subject to the Company’s receipt of your countersignature on this Agreement. As a condition to the receipt of your Retention Bonus, you agree to, and hereby do, forfeit 100% of the long-term incentive equity grant made to you on February 22, 2017.

Notwithstanding the foregoing, in the event you voluntarily terminate your employment with the Company without Good Reason (defined below), or the Company terminates your employment for Cause (defined below), in either case, before the earlier of (x) the twelve-month anniversary of the Effective Date, and (y) a Change in Control (as applicable, the “Retention Date”), you will be required to promptly repay to the Company (and in any event no later than ten days of such termination), an amount equal to the After-Tax Value of the Retention Bonus.  The “After-Tax Value of the Retention Bonus” is equal to the Retention Bonus, reduced by all taxes the Company actually withholds therefrom.  For the avoidance of doubt, in the event of death or Disability prior to the Retention Date, you (or your estate, as applicable), shall not be subject to the repayment obligations of this Agreement.  For purposes of this Agreement, (i) “Change in Control” means (A) the sale of all or substantially all of the assets of the Company and its subsidiaries, on a consolidated basis or (B) the direct or indirect acquisition by a person or group (whether or not acting in concert) of a majority of the outstanding stock of the Company, in either of cases (A) or (B), in one or more transactions (and regardless of the form of the transaction) under Section 363 of the United States Bankruptcy Code or pursuant to a confirmed chapter 11 plan or similar provision under the laws of any other jurisdiction (such date, the “Retention Date”).  For the avoidance of doubt, you will not be required to repay any portion of your Retention Bonus if you terminate your employment anytime following a “Change in Control.”

For purposes of this Agreement, “Disability” means you have become entitled to receive long-term disability benefits under the Company’s long-term disability plan that covers you, as in effect from time to time; provided, however, that if there is no such plan, “Disability” means you are unable to perform the essential functions of your position (after accounting for reasonable accommodation, if applicable), due to an illness or physical or mental impairment or other incapacity that continues, or can reasonably be expected to continue, for a period in excess of 120 days, whether or not consecutive.  

 

 

 

For purposes of this Agreement, “Cause” means your (a) willful failure to substantially perform your duties (other than any such failure resulting from your physical or mental incapacity); (b) willful misconduct, gross negligence, breach of fiduciary duty, fraud, theft or embezzlement, in each case, that results in demonstrable harm to the Company or any of its Affiliates (defined below); (c) material breach of this Agreement that results in demonstrable harm to the Company or any of its Affiliates; (d) conviction of, or plea of nolo contendere to, any felony (or state law equivalent) or any crime involving moral turpitude; (e) commission of an act of fraud, embezzlement, or misappropriation, in each case, against the Company or any of its Affiliates, or (f) material breach of any material policy or code of conduct established by the Company or any of its Affiliates (including policies relating to anti-corruption or trade and economic sanctions), as such policies may be amended from time to time, that results in material economic harm.  Notwithstanding the foregoing, except for a failure, breach or refusal that, by its nature, cannot reasonably be expected to be cured, you shall have 30 days following the delivery of written notice by the Company or one of its Affiliates within which to cure any actions or omissions described in clauses (a), (b), (c) or (f) constituting Cause; provided, however, that, if the Company reasonably expects irreparable injury from a delay of 30 days, the Company or one of its Affiliates may give you notice of such shorter period within which to cure as is reasonable under the circumstances, which may include the termination of your employment without notice and with immediate effect. 

For purposes of this Agreement, “Good Reason” means any of the following, in each case, without your consent: (a) the assignment of duties materially inconsistent with your title or position or the removal of substantially all of your duties and responsibilities, (b) a reduction of 20% or more of your annual base salary as in effect on the Effective Date or as the same may be increased from time to time, (c) a relocation of the geographic location of your principal place of employment by more than 75 miles from Houston, Texas or  (d) a breach by the Company of any material obligation owed to you in connection with your employment with the Company, including without limitation, any indemnification obligations, to which you may be entitled from time to time.

The occurrence of an event that would otherwise constitute Good Reason will cease to be an event constituting Good Reason, if you do not timely provide notice to the Company within thirty (30) days of the date on which you first become aware of the occurrence of that event.  The Company shall have fifteen (15) days following receipt of your written notice in which to correct in all material respects the circumstances constituting Good Reason, and you must terminate employment within thirty (30) days following expiration of the Company’s fifteen-day cure period.  Otherwise, any claim of such circumstances constituting “Good Reason” shall be deemed irrevocably waived by you.  

You acknowledge and agree that the definitions of “Cause” and “Good Reason” set forth above (along with the notice and cure provisions) is deemed to be incorporated by reference into any employment agreement, severance arrangement, or other similar agreement with the Company or its Affiliates to which you are party that includes such terms (or any similar term) and will supersede and replace any such definition.

For purposes of this Agreement, “Affiliate” means with respect to any person, any other person that directly or indirectly through one or more intermediaries controls, is controlled by or is under common control with, the person in question. As used herein, the term “control” means the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a person, whether through ownership of voting securities, by contract or otherwise.

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In the event you become entitled to a Severance Payment under Section [__] “Qualifying Termination Within a CIC Protection Period” of the [Name of Plan/Agreement] due to a qualifying termination of employment before the Retention Date, such Severance Payments will be reduced by the amount of the Retention Bonus (but in no case below zero).

2.Taxes.  The Company may withhold from any and all amounts payable to you hereunder such federal, state and local taxes as the Company determines in its sole discretion may be required to be withheld pursuant to any applicable law or regulation.

3.No Right to Continued Employment.  Nothing in this Agreement will confer upon you any right to continued employment with the Company (or its subsidiaries or their respective successors) or to interfere in any way with the right of the Company (or its subsidiaries or their respective successors) to terminate your employment at any time.

4.Other Benefits.  The Retention Bonus is a special payment to you and will not be taken into account in computing the amount of salary or compensation for purposes of determining any bonus, incentive, pension, retirement, death or other benefit under any other bonus, incentive, pension, retirement, insurance or other employee benefit plan of the Company, unless such plan or agreement expressly provides otherwise.

5.No Assignments; Successors.  This Agreement is personal to each of the parties hereto.  Except as provided in this paragraph, no party may assign or delegate any right or obligation hereunder without first obtaining the written consent of the other party hereto.  The Company may assign this Agreement to any successor to all or substantially all of the business and/or assets of the Company; provided that the Company will require such successor to expressly assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place.  

6.Effectiveness.  This Agreement shall be effective August 7, 2017.

7.Governing Law.  This Agreement will be governed by, and construed under and in accordance with, the internal laws of the State of Texas, without reference to rules relating to conflicts of laws.

8.Costs of Enforcement. In the event a party commences any legal action (regardless of whether or not a lawsuit is actually brought) to protect any rights under, or to enforce any provisions of this Agreement (including, but not limited to, the collection the After-Tax Value of the Retention Bonus), the prevailing party shall be entitled to recover from the losing party all reasonable costs, expenses, and attorneys' fees incurred by the party in connection with such proceedings, including, attorneys' fees incurred for consultation and other legal services performed prior to the filing of such proceeding.

9.No Unauthorized Use or Disclosure.  For purposes of this Section 9, “Company” shall include the Company and each of its Affiliates. The term “Confidential Information” shall mean any and all confidential or proprietary information and materials, as well as all trade secrets, belonging to the Company. Confidential Information includes, regardless of whether such information or materials are expressly identified or marked as confidential or proprietary, and whether or not patentable: (1) technical information and materials of the Company; (2) business information and materials of the Company; (3) any information or material that gives the Company an advantage with respect to its competitors by virtue of not being known by those 

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competitors; and (4) other valuable, confidential information and materials and/or trade secrets of the Company. All Confidential Information shall be the sole and exclusive property of the Company. Upon termination of your employment with the Company, for any reason, you shall promptly deliver all documents and materials (including electronically stored information) containing or reflecting Confidential Information, and all copies thereof, to the Company. Notwithstanding the preceding provisions of this Section 9, the term Confidential Information does not include (i) any information that, at the time of disclosure by the Company, is available to the public other than as a result of any unauthorized act by you, or (ii) any information that becomes available to you on a non-confidential basis from a source other than the Company or any of its respective directors, officers, employees, agents or advisors; provided, that such source is not known by you to be bound by a confidentiality agreement with or other obligation of secrecy to the Company regarding the information.  

You agree to preserve and protect the confidentiality of all Confidential Information. You agree that you will not, at any time during your term of employment or thereafter, make any unauthorized disclosure of Confidential Information, or make any use thereof, except, in each case, in the carrying out your responsibilities to the Company. You further agree to preserve and protect the confidentiality of all confidential information of third parties provided to the Company by such third parties with an expectation of confidentiality. You shall use commercially reasonable efforts to cause all persons or entities to whom any Confidential Information shall be disclosed by you hereunder to preserve and protect the confidentiality of such Confidential Information. You shall have no obligation hereunder to keep confidential any Confidential Information if and to the extent disclosure thereof is specifically required by applicable laws; provided, however, that in the event disclosure is required by applicable laws and you are making such disclosure, you shall provide the Company with prompt notice of such requirement prior to making any such disclosure, so that the Company may seek an appropriate protective order.  

Nothing in this Agreement will prevent you from: (a) making a good faith report of possible violations of applicable law to any governmental agency or entity; or (b) making disclosures that are protected under the whistleblower provisions of applicable law.

10.Counterparts.  This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original but all of which together shall constitute one and the same instrument.

11.Entire Agreement; Amendment.  This Agreement constitutes the entire agreement between you and the Company with respect to the Retention Bonus and supersedes any and all prior agreements or understandings between you and the Company with respect to the Retention Bonus, whether written or oral.  This Agreement may be amended or modified only by a written instrument executed by you and the Company.

12.Section 409A Compliance.  Although the Company does not guarantee the tax treatment of the Retention Bonus, the intent of the parties is that the Retention Bonus be exempt from the requirements of Section 409A of the Internal Revenue Code and the regulations and guidance promulgated thereunder, and accordingly, to the maximum extent permitted, this Agreement shall be interpreted in a manner consistent therewith.

[Signature Page Follows]

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This Agreement is intended to be a binding obligation on you and the Company.  If this Agreement accurately reflects your understanding as to the terms and conditions of the Retention Bonus, please sign and date one copy of this Agreement no later than August 14, 2017 and return the same to me for the Company’s records.  The Company reserves the right to withdraw this Agreement if you have not executed and returned a signed copy back to me by such date, in which case this Agreement shall be null and void. You should make a copy of the executed Agreement for your records.

 

	
 
	
 
	
Very truly yours,

	
 
	
 
	
 

	
 
	
 
	
 

	
 
	
 
	
 

	
 
	
 
	
Cobalt International Energy, Inc.

	
 
	
 
	
 

	
 
	
 
	
 

 

The above terms and conditions accurately reflect our understanding regarding the terms and conditions of the Retention Bonus, and I hereby confirm my agreement to the same.

 

	
 
	
 
	
Dated:

	
[Name]
	
 
	
 

	
[Job Title]
	
 
	
 

 

5Exhibit

Exhibit 10.1
EXECUTION VERSION

Amendment NO. 1 dated as of October 27, 2017 (this “Amendment”), to the Credit AND SECURITY Agreement dated as of September 29, 2017 (the “Credit Agreement”), among BASIC ENERGY RECEIVABLES, LLC (the “Borrower”), BASIC ENERGY SERVICES, L.P. (the “Servicer”), BASIC ENERGY SERVICES, INC. (“Parent”), the lenders from time to time party thereto (the “Lenders”), UBS AG, STAMFORD BRANCH, as administrative agent (in such capacity, the “Administrative Agent”) and as collateral agent for the Lenders and CIT Bank, N.A., as Syndication Agent.
PRELIMINARY STATEMENT
A.  Pursuant to the Credit Agreement, the Lenders have extended, and have agreed to extend, credit to the Borrower, 
B.  The Borrower and Lenders desire that certain provisions of the Credit Agreement be amended as provided herein, and
C.    The Borrower hereby appoints CIT Bank, N.A. to serve as Syndication Agent under the terms of the Credit Agreement, as amended by this Amendment.
Accordingly, in consideration of the mutual agreements herein contained and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:
SECTION 1.  Defined Terms. Capitalized terms used but not otherwise defined herein (including the preliminary statement hereto) shall have the meanings assigned thereto in the Credit Agreement.  The provisions of Section 1.02 of the Credit Agreement are hereby incorporated by reference herein, mutatis mutandis.
SECTION 2.  Amendments to the Credit Agreement.  Subject to the satisfaction of the conditions set forth in Section 5 hereof, the Credit Agreement is hereby amended as follows, effective as of the Amendment Effective Date (as defined below):
(a)  Section 1.01 is hereby amended by adding the following defined terms in the appropriate alphabetical order: 
““Amendment No. 1” means that certain Amendment, dated as of the Amendment No. 1 Effective Date among the Borrower, the Servicer, Parent, the Lenders party thereto and the Administrative Agent.”
““Amendment No. 1 Effective Date” means October 27, 2017.”
““Syndication Agent” means CIT Bank, N.A.”
(b)  The definition of “Aggregate Commitments” in Section 1.01 of the Credit Agreement is hereby amended by amending and restating the second sentence thereof in its entirety as follows:

“The amount of the Aggregate Commitments on the Amendment No. 1 Effective Date is $120,000,000.”
(c)  The definition of “Old Upfront Fee Per Annum” in Section 1.01 of the Credit Agreement is hereby amended by amending and restating subclause (A)(ii) thereof in its entirety to read as follows: “(ii) the total Commitments on the Amendment No. 1 Effective Date,”.
(d)  Section 11.01 of the Credit Agreement is hereby amended by amending and restating the last paragraph thereof in its entirety as follows:
“Anything herein to the contrary notwithstanding, none of (i) the Bookrunners or Lead Arrangers listed on the cover page hereof or (ii) CIT Bank, N.A, in its capacity as Syndication Agent, shall have any powers, duties or responsibilities under this Agreement or any of the other Loan Documents, except in its capacity, as applicable, as the Administrative Agent, the Collateral Agent or a Lender hereunder.”  
(e)  Schedule 1.01-1 of the Credit Agreement is hereby replaced in its entirety with the Schedule attached hereto as Exhibit A.
SECTION 3.  Assignments of Commitments.
(a)  Subject to the satisfaction of the conditions set forth in Section 5 hereof, the Commitments of the Lenders shall be as set forth on the Schedule attached hereto as Exhibit A.  The parties hereto agree that any assignments between the Lenders as shall be necessary to result in the Commitments being so allocated shall be deemed to have been made and become effective on the Amendment Effective Date.
(b)  Each Lender signatory hereto that was not a Lender immediately prior to the Amendment Effective Date (each a “New Lender”) hereby (i) represents and warrants that (A) such New Lender has full power and authority, and has taken all action necessary, to execute and deliver this Amendment and to consummate the transactions contemplated hereby and to become a Lender under the Credit Agreement, (B) such New Lender meets all requirements of an assignee under the Credit Agreement, and (C) such New Lender has received a copy of the Credit Agreement, together with such documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Amendment and to purchase its applicable Commitment, and on the basis of which it has made such analysis and decision independently and without reliance on the Administrative Agent or any other Lender; and (ii) agrees that (A) from and after the Amendment Effective Date, such New Lender shall be a party to and be bound by the provisions of the Credit Agreement and, to the extent of the Commitments set forth opposite such Lender’s name on the Schedule attached hereto as Exhibit A, have the rights and obligations of a Lender thereunder and under the Loan Documents, (B) it will, independently and without reliance on the Administrative Agent or any other Lender, and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Loan Documents, and (C) it will perform in accordance with their terms all of the obligations that by the terms of the Loan Documents are required to be performed by it as a Lender.
SECTION 4.  Representations and Warranties.  To induce the other parties hereto to enter into this Amendment, Borrower, Servicer and Parent each represents and warrants to the Administrative Agent and each of the Lenders that: 
(a)  The representations and warranties set forth in Article VI of the Credit Agreement and in each other Loan Document are true and correct (A) in the case of the representations and warranties 

qualified as to materiality, in all respects and (B) otherwise, in all material respects, in each case on and as of the Amendment No. 1 Effective Date as though made on and as of such date, except to the extent that such representations and warranties expressly relate to an earlier date.
(b)  No Default or Event of Default has occurred and is continuing after giving effect to this Amendment.
(c)  None of the Loan Documents in effect on the Amendment Effective Date, including, without limitation, the Receivables Transfer Agreement, will be rendered invalid, non-binding or unenforceable against any Loan Party as a result of this Amendment. The Liens created under such Loan Documents will continue to secure the Obligations, and will continue to be perfected, in each case, to the same extent as they secured the Obligations or were perfected immediately prior to the Amendment Effective Date.
(d)  The Credit Agreement, as amended by this Amendment and the consummation of the transactions contemplated hereby, (i) have been duly authorized by all requisite corporate or limited liability company action of the Borrower, Servicer and Parent, (ii) are permitted under and will not violate the organizational or governance documents of such Persons and (iii) will not violate, conflict with or result in a default under any agreement or other instrument binding upon such Persons or their assets, including, without limitation, the Parent Credit Agreement or any other Loan Document, except, with respect to clause (iii) above, for any such violation, conflict or default that would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect.
SECTION 5.  Effectiveness.  This Amendment shall become effective on and as of the date on which each of the following conditions precedent is satisfied (such date, the “Amendment Effective Date”):
(a)  The Administrative Agent shall have received duly executed and delivered counterparts of this Amendment that, when taken together, bear the signatures of the Borrower, the other Loan Parties and the Lenders.
(b)  The Administrative Agent shall have received evidence of consent by the Parent Credit Agreement Lenders to the increase in the Aggregate Commitments provided for in this Amendment.
(c)  The Administrative Agent shall have received from each of the Loan Parties (i) a certificate, in form and substance reasonably satisfactory to Administrative Agent, dated as of the Amendment Effective Date and executed by an authorized officer, which shall (A) certify the resolutions of the governing body of such entity approving this Amendment and authorizing the execution, delivery and performance thereof and (B) certify as to the representations and warranties set forth in Section 4 above.
(d)  The Administrative Agent shall have received a legal opinion, in form and substance satisfactory to Administrative Agent, from Andrews Kurth Kenyon LLP, counsel for the Loan Parties, covering the Amendment and the actions contemplated herein, which shall include, among other things, (i) due authorization, execution and delivery and (ii) no conflict with any Loan Document, the Parent Credit Agreement or applicable law.
SECTION 6.  Effect of this Amendment.  (a)    Except as expressly set forth herein, this Amendment shall not by implication or otherwise limit, impair, constitute a waiver of, or otherwise affect the rights and remedies of the Administrative Agent, the Lenders or any other Secured 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 any Loan Party 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 or any other Loan Document in similar or different circumstances.  This Amendment shall apply and be effective only with respect to the provisions of the Credit Agreement specifically referred to herein.
(b)  From and after the Amendment Effective Date, any reference to the Credit Agreement shall mean the Credit Agreement as modified by this Amendment.
(c)  This Amendment shall constitute a “Loan Document” for all purposes of the Credit Agreement and the other Loan Documents.
SECTION 7.  Reaffirmation; Further Assurances.  Each of the Borrower and the other Loan Parties hereby acknowledges that it expects to receive substantial direct and indirect benefits as a result of this Amendment and the transactions contemplated hereby, and each of the foregoing hereby consents to this Amendment and the transactions contemplated hereby, and hereby confirms its respective grants of security interests, as applicable, under each of the Loan Documents to which it is party, and agrees that, notwithstanding the effectiveness of this Amendment and the transactions contemplated hereby, such guarantees, pledges and grants of security interests shall continue to be in full force and effect and shall accrue to the benefit of the Secured Parties.
SECTION 8.  Expenses.  The Borrower agrees to reimburse the Administrative Agent for its reasonable out-of-pocket expenses in connection with this Amendment, including the reasonable fees, charges and disbursements of Winston & Strawn LLP.
SECTION 9.  Counterparts.  This Amendment may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.  Delivery by electronic transmission (e.g., “pdf”) of an executed counterpart of a signature page to this Amendment shall be effective as delivery of an original executed counterpart of this Amendment.
SECTION 10.  No Novation.  This Amendment shall not extinguish the obligations for the payment of money outstanding under the Credit Agreement or discharge or release the Lien or priority of any Loan Document or any other security therefor or any guarantee thereof.  Nothing herein contained shall be construed as a substitution or novation of the Obligations outstanding under the Credit Agreement or instruments guaranteeing or securing the same, which shall remain in full force and effect, except as modified hereby or by instruments executed concurrently herewith.  Nothing expressed or implied in this Amendment or any other document contemplated hereby shall be construed as a release or other discharge of the Borrower under the Credit Agreement or any Loan Party under any other Loan Document from any of its obligations and liabilities thereunder.  The Credit Agreement and each of the other Loan Documents shall remain in full force and effect, until and except as modified hereby or thereby in connection herewith or therewith.
SECTION 11.  Governing Law.    THIS AMENDMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK.
SECTION 12.  Headings.  Section headings used herein are for convenience of reference only, are not part of this Amendment and are not to affect the construction of, or be taken into consideration in interpreting, this Amendment.
[Remainder of page intentionally left blank]

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

	
		
	UBS AG, Stamford Branch,            
as Administrative Agent and as a Lender,

	 

	by
	/s/Craig Pearson

	 
	Name: Craig Pearson

	 
	Title: Associate Director
         Banking Product Services, US

	
		
	 

	by
	/s/Houssem Daly

	 
	Name: Houssem Daly

	 
	Title: Associate Director
         Banking Product Services, US

	
		
	CIT Bank, N.A., 
as Syndication Agent and as a Lender,

	 

	by
	/s/Stewart McLeod

	 
	Name: Steward McLeod

	 
	Title: Director

	
		
	Siemens Financial Services, Inc.,            
as a Lender,

	 

	by
	/s/John Finore

	 
	Name: John Finore

	 
	Title: Vice President

	
		
	 

	by
	/s/Sonia Vargas

	 
	Name: Sonia Vargas

	 
	Title: Sr. Loan Closer

	
	
	Basic Energy Receivables, LLC, as Borrower

By:      /s/Alan Krenek
Name: Alan Krenek
Title:   Senior Vice President, Chief
            Financial Officer, Treasurer and
            Secretary

        

          Basic Energy Services, L.P., as Servicer

                 By: Basic Energy Services GP, LLC, its General Partner

          By: Basic Energy Services, Inc., its 
Sole Member

                      By:     /s/Alan Krenek            
          Name:  Alan Krenek
          Title:    Senior Vice President, Chief 
                                 Financial Officer, Treasurer and
            Secretary

Basic Energy Services, Inc., as Performance Guarantor

By:     /s/Alan Krenek                
 Name:     Alan Krenek
 Title:   Senior Vice President, Chief 
Financial Officer, Treasurer and
Secretary

Agreed to and acknowledged by the undersigned solely with respect to Section 7 hereof. 

BER Holdco, LLC, as SPV Holdco

       By:     /s/Alan Krenek            
 Name:     Alan Krenek
 Title:     Senior Vice President, Chief 
 Financial Officer, Treasurer and
 Secretary

Exhibit A to Amendment No. 1 to Credit Agreement

See attached.

SCHEDULE 1.01-1

COMMITMENT SCHEDULE
	
		
	Lender
	Commitment

	UBS AG, Stamford Branch
	$50,000,000

	CIT Bank, N.A.
	$50,000,000

	Siemens Financial Services, Inc.
	$20,000,000

	 
	 

	 
	 

	 
	 

	Total
	$120,000,000

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