Document:

Amendment No.1 to the Five Year Revolving Credit Agreement

 Exhibit 10.9 
  
 EXECUTION COPY 
  
 AMENDMENT NO. 1 TO THE 
 FIVE YEAR
REVOLVING CREDIT AGREEMENT 
  
 Dated as of April 13,
2006 
  
 AMENDMENT NO. 1 TO THE FIVE YEAR REVOLVING CREDIT
AGREEMENT among KBR HOLDINGS, LLC, a Delaware limited liability company (the “Borrower”), the banks, financial institutions and other institutional lenders parties to the Credit Agreement referred to below (collectively, the
“Banks”) and Citibank, N.A., as paying agent (the “Agent”) for the Banks. 
  
 PRELIMINARY STATEMENTS: 
  
 (1) The Borrower, the Banks and the Agent have entered into a Five Year Revolving Credit Agreement dated as of December 16, 2005 (as amended,
supplemented or otherwise modified through the date hereof, the “Credit Agreement”). Capitalized terms not otherwise defined in this Amendment have the same meanings as specified in the Credit Agreement. 
  
 (2) The Borrower and the Required Banks have agreed to amend the Credit
Agreement as hereinafter set forth. 
  
 SECTION 1. Amendments
to Credit Agreement. The Credit Agreement is, effective as of the date hereof and subject to the satisfaction of the conditions precedent set forth in Section 3, hereby amended as follows: 
  
 (a) Section 1.01 is amended as follows: 
  
 (i) the definition of “Eligible Assignee” is
amended to insert the words “and each Issuing Bank” following the word “Agent” in the second line thereof; 
  
 (ii) the definition of “Intercompany Note” is amended to read in full as follows: 
  
 “Intercompany Note” means, collectively,
(i) that certain existing note made by the Borrower to HESI in an amount not to exceed $489 million and (ii) that certain existing note made by Georgetown Finance Ltd. to Avalon Financial Services, Ltd. in an amount not to exceed $285
million; 
  
 (iii) the definition of “Loan
Documents” is amended to add a comma and the words “the Pre-IPO Reimbursement Agreement” immediately following the words “Indemnity Agreement”; 
  
 (iv) a new defined term is inserted in the appropriate alphabetical order to read as follows: 

 “Pre-IPO Reimbursement Agreement” means the agreement of the Parent to
be entered into as contemplated by the first proviso of Section 5.02(g)(x) hereof”; and 
  
 (v) the definition of “Subordination Agreement” is amended to read in full as follows: 
  
 “Subordination Agreement” means,
collectively, (i) the Subordination and Undertaking Agreement, dated December 16, 2005 among the Parent, HESI, the Borrower and the Agent and (ii) the Subordination Agreement to be entered into among the Parent, the Borrower, Avalon
Financial Services, Ltd. and Georgetown Finance Ltd. pursuant to which the note referred to in clause (ii) of the definition of “Intercompany Note” is to be subordinated on substantially the same terms as the note referred to in
clause (i) of such definition. 
  
 (b)
Section 5.02(f)(viii) is amended by inserting the parenthetical phrase “(including, without limitation, repayment of loans and advances)” following the word “distributions” at the end of the sixth line thereof. 

 
 (c) Section 5.02(g) (viii) is amended by
inserting after the word “Borrower” in the second line thereof the words “and Georgetown Finance Ltd.”. 
  
 (d) Section 5.02(g) is further amended by deleting the word “and” at the end of subsection (viii) thereof, deleting
the period at the end of clause (ix) thereof and substituting therefor “; and” and adding a new subsection (x) to read as follows: 
  
 “Borrower may declare and pay a dividend not to exceed $300 million, provided that the Parent shall have unconditionally
agreed, in a writing satisfactory to the Agent, that if the Borrower does not receive net cash proceeds of at least the amount of such dividend from the sale of Equity Interests of the Borrower or a holding company of the Borrower within 45 days
after such dividend is paid, the Parent shall promptly reimburse the Borrower in an amount equal to the difference between the amount of such dividend and the amount of any such net cash proceeds received by the Borrower; provided,
however, that no such dividend may be paid from the proceeds of a Borrowing hereunder; provided further, that the reimbursement of such dividend by the Parent or a holding company of the Borrower shall be deemed not to be proceeds from
the sale of Equity Interests in the Borrower.” 
  
 (e) Section 5.02(j) is amended by (i) inserting the words “or permit Georgetown Finance Ltd. to prepay, redeem, purchase, defease or otherwise satisfy prior to the scheduled maturity thereof in any manner, or make any payment
in violation of any subordination terms of,” prior to the words “the Intercompany Note” in the third line thereof and (ii) inserting the words “and Georgetown Finance Ltd.” following the word “Borrower” in the
fifth and eighth lines thereof. 
  
 (f)
Section 5.02(k) is amended by inserting the words “and Georgetown Finance Ltd.” following the word “Borrower” in the eleventh line thereof. 
  
 (g) Section 5.04 is amended by adding the words “and the other transactions contemplated by
Section 4.01(u) hereof” immediately prior to the period at the end thereof. 
  

 2 

 (h) Schedule 5.02(b)(ii) is amended by deleting the number “$774,000,000” in
the seventh item thereof and substituting the number “$489,000,000” and adding a new item at the end thereof as follows: 
  

					
	 “Georgetown Finance Ltd.
	 	$285,000,000	 	Intercompany Note”.

  
 SECTION 2.
Waiver. The Required Banks hereby waive any Default or Event of Default which may have occurred due to the inadvertent misdescription in the Credit Agreement of the Intercompany Note. 
  
 SECTION 3. Conditions of Effectiveness. This Amendment shall become
effective as of the date first above written when, and only when, (a) the Parent, the Borrower, Avalon Financial Services, Ltd. and Georgetown Finance Ltd. shall have executed and delivered a Subordination Agreement satisfactory to the Agent
pursuant to which the Intercompany Note owing from Georgetown Finance Ltd. to Avalon Financial Services, Ltd. is subordinated on substantially the same terms as contained in the Subordination Agreement, except that the Parent shall agree to
reimburse Georgetown Finance Ltd. or the Borrower should any payments be received by Avalon Financial Services, Ltd. in violation of the terms thereof, (b) each Intercompany Note referred to in the definition thereof, as amended hereby, shall
have been executed and delivered and (c) the Agent shall have received counterparts of this Amendment executed by the Borrower and the Required Banks or, as to any of the Banks, advice satisfactory to the Agent that such Bank has executed this
Amendment and the consent attached hereto executed by each Relevant Party (other than the Borrower). This Amendment is subject to the provisions of Section 8.01 of the Credit Agreement 
  
 SECTION 4. Representations and Warranties of the Borrower. The
Borrower represents and warrants as follows: 
  
 (i) the representations and warranties contained in each Loan Document are correct on and as of the date hereof (except (A) those representations and warranties contained in (I) Section 4.01(i) of the Credit Agreement to the
extent such matters are subject to, and covered by, (x) the Indemnity Agreement and (y) the Disclosed Litigation, and (II) Section 4.01(f) of the Credit Agreement and (B) those other representations and warranties that expressly
relate solely to a specific earlier date, which shall remain correct as of such earlier date) after giving effect to this Amendment, as though made on and as of the date hereof; and 
  
 (ii) no event has occurred and is continuing, after giving effect to this Amendment, which constitutes a
Default or an Event of Default. 
  
 SECTION 5. Reference to and
Effect on the Loan Document. (a) On and after the effectiveness of this Amendment, each reference in the Credit Agreement to “this Agreement”, “hereunder”, “hereof” or words of like import referring to the
Credit Agreement, and each reference in the Notes and each of the other Loan Documents to “the Credit Agreement”, “thereunder”, “thereof” or words of like import referring to the Credit Agreement, shall mean and be a
reference to the Credit Agreement, as amended by this Amendment. 
  

 3 

 (b) The Credit Agreement and each of the other Loan Documents, as specifically amended by
this Amendment, are and shall continue to be in full force and effect and are hereby in all respects ratified and confirmed. 
  
 (c) The execution, delivery and effectiveness of this Amendment shall not, except as expressly provided herein, operate as a waiver of any
right, power or remedy of any Bank or the Agent under any of the Loan Documents, nor constitute a waiver of any provision of any of the Loan Documents. 
  
 SECTION 6. Costs and Expenses. The Borrower agrees to pay on demand all costs and expenses of the Agent in connection with the preparation,
execution, delivery and administration, modification and amendment of this Amendment and the other instruments and documents to be delivered hereunder (including, without limitation, the reasonable fees and expenses of counsel for the Agent) in
accordance with the terms of Section 8.04 of the Credit Agreement. 
  
 SECTION 7. Execution in Counterparts. This Amendment may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of
which taken together shall constitute but one and the same agreement. Delivery of an executed counterpart of a signature page to this Amendment by telecopier shall be effective as delivery of a manually executed counterpart of this Amendment.

  
 SECTION 8. Governing Law. This Amendment shall be
governed by, and construed in accordance with, the laws of the State of New York. 
  
 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their respective officers thereunto duly authorized, as of the date first above written. 
  

			
	 KBR HOLDINGS, LLC

		
	 By
	 	/s/ Larry Henry
	 	 	Title: Vice President & Treasurer
	
	 CITIBANK, N.A.,
 as Paying Agent and as
Bank

		
	 By
	 	/s/ John F. Miller
	 	 	Title: Attorney-in-fact

  

 4 

			
	 Australia and New Zealand Banking Group Limited

		
	 By:
	 	/s/ John W. Wade
	 Name:
	 	John W. Wade
	 Title:
	 	Director

  

 5 

			
	 THE BANK OF NOVA SCOTIA

		
	 By:
	 	/s/ V. H. Gibson
	 Name:
	 	V. Gibson
	 Title:
	 	Assistant Agent

  

 6 

			
	 CITIBANK, N.A.

		
	 By:
	 	/s/ Amy Pinchu
	 Name:
	 	Amy K. Pinchu
	 Title:
	 	Attorney-in-fact

  

 7 

			
	 Credit Suisse, Cayman Islands Branch

		
	 By:
	 	 /s/ Vanessa Gomez

	 Name:
	 	 Vanessa Gomez

	 Title:
	 	 Vice President

		
	 By:
	 	 /s/ Nupur Kumar

	 Name:
	 	 Nupur Kumar

	 Title:
	 	 Associate

  

 8 

			
	 GOLDMAN SACHS CREDIT PARTNERS LP

		
	 By:
	 	/s/ Rosalee M. Gordon
	 Name:
	 	Rosalee M. Gordon
	 Title:
	 	Authorized Signatory

  

 9 

			
	 HSBC Bank USA, National Association

		
	 By:
	 	/s/ Mark J. Calvert
	 Name:
	 	Mark J. Calvert
	 Title:
	 	Authorized Signature

  

 10 

			
	 ING Bank N.V.

		
	 By:
	 	 /s/ K.P. Weehuizen

	 Name:
	 	 K.P. Weehuizen

	 Title:
	 	 Managing Director

		
	 By:
	 	 /s/ M.P. Scheen

	 Name:
	 	 M.P. Scheen

	 Title:
	 	 Director

  

 11 

			
	 JPMORGAN CHASE BANK, N.A.

		
	 By:
	 	/s/ Beth Lawrence
	 Name:
	 	Beth Lawrence
	 Title:
	 	Managing Director

  

 12 

			
	 Lehman Commercial Paper Inc. and its affiliates

		
	 By:
	 	/s/ Maria Maleanikova Lund
	 Name:
	 	Maria Maleanikova Lund
	 Title:
	 	Vice President

  

 13 

			
	 LLOYDS TSB BANK PLC

		
	 By:
	 	 /s/ Deborah Carlson

	 Name:
	 	 Deborah Carlson

	 Title:
	 	 VP & Manager – Business Development

		
	 By:
	 	 /s/ Andrew Roberts

	 Name:
	 	 Andrew Roberts

	 Title:
	 	 VP – Corporate Banking

  

 14 

			
	 Merrill Lynch Bank USA

		
	 By:
	 	/s/ Louis Alder
	 Name:
	 	Louis Alder
	 Title:
	 	Director

  

 15 

			
	 National Bank of Kuwait, S.A.K.

		
	 By:
	 	 /s/ Robert McNeill

	 Name:
	 	 Robert McNeill

	 Title:
	 	 Assistant General Manager

		
	 By:
	 	 /s/ Rex Richardson

	 Name:
	 	 Rex Richardson

	 Title:
	 	 Assistant General Manager

  

 16 

			
	 The Royal Bank of Scotland plc

		
	 By:
	 	/s/ Keith Johnson
	 	 	

	 Name:
	 	Keith Johnson
	 Title:
	 	Managing Director

  

 17 

			
	 STANDARD CHARTERED BANK

		
	 By:
	 	 /s/ David B. Edwards

	 Name:
	 	 David B. Edwards

	 Title:
	 	 Senior Vice President

		
	 By:
	 	 /s/ Andrew Ng

	 Name:
	 	 Andrew Ng

	 Title:
	 	 Vice President

  

 18 

			
	 State Street Bank and Trust Company

		
	 By:
	 	/s/ M. H. Carey
	 	 	

	 Name:
	 	M. H. Carey
	 Title:
	 	Vice President

  

 19 

			
	 Sumitomo Mitsui Banking Corporation

		
	 By:
	 	/s/ William M. Ginn
	 	 	

	 Name:
	 	William M. Ginn
	 Title:
	 	General Manager

  

 20 

			
	 UBS LOAN FINANCE LLC

		
	 By:
	 	 /s/ Richard L. Tavrow

	 Name:
	 	 Richard L. Tavrow

	 Title:
	 	 Director

		
	 By:
	 	 /s/ Irja R. Otsa

	 Name:
	 	 Irja R. Otsa

	 Title:
	 	 Associate Director

  

 21 

			
	 WACHOVIA BANK, NATIONAL ASSOCIATION

		
	 By:
	 	/s/ Shawn Young
	 	 	

	 Name:
	 	Shawn Young
	 Title:
	 	Vice President

  

 22 

 CONSENT 
  
 Dated as of April 13, 2006 
  
 The undersigned, one of the Relevant Parties referred to in the Credit Agreement referred to in the foregoing Amendment, hereby consents to such Amendment
and hereby confirms and agrees that notwithstanding the effectiveness of such Amendment, each Loan Document to which it is a party is, and shall continue to be, in full force and effect and is hereby ratified and confirmed in all respects, except
that, on and after the effectiveness of such Amendment, each reference in each Loan Document to the “Credit Agreement”, “thereunder”, “thereof” or words of like import shall mean and be a reference to the Credit
Agreement, as amended by such Amendment . 
  

			
	 KELLOGG BROWN & ROOT LLC (fka
 KELLOGG BROWN & ROOT, INC.)
 KELLOGG BROWN & ROOT SERVICES, INC. KELLOGG BROWN & ROOT
 INTERNATIONAL, INC.

		
	 By:
	 	 /s/ Larry Henry

	 Name:
	 	 Larry Henry

	 Title:
	 	 Vice President & Treasurer

	
	 HALLIBURTON COMPANY

	
	 HALLIBURTON ENERGY SERVICES, INC.

		
	 By:
	 	 /s/ Craig Nunez

	 Name:
	 	 Craig Nunez

	 Title:
	 	 Vice President & Treasurer

  

 23Intercompany Note, dated as of December 1, 2005 payable by KBR Holdings LLC

 Exhibit 10.10 
  
 THE REPAYMENT OF THIS NOTE IS SUBJECT TO THE 
 TERMS OF THE SUBORDINATION AGREEMENT 
 (AS DEFINED BELOW) 
  
 INTERCOMPANY NOTE 
  

			
	 $489,000,000
	  	December 1, 2005

  
 The undersigned, for
value received, promises to pay on or before December 31, 2010 to the order of Halliburton Energy Services, Inc. a Delaware corporation (the “Lender”) at the principal office of the Lender in Houston, Texas, or at such other
place designated by the Lender or its assignee, the unpaid principal amount of this Intercompany Note together with accrued interest on such amounts from time to time outstanding hereunder at the rate provided below. 
  
 This is one of the “Intercompany Notes” as defined in the Five Year
Revolving Credit Agreement dated as of December 16, 2005 (as amended from time to time, the “Credit Agreement”) among the undersigned, the Issuing Banks, the Banks and the Agents (as such terms are defined therein), and is in
amendment and restatement of the $774 million Intercompany Note from the undersigned in favor of the Lender dated as of December 1, 2005. Capitalized terms used herein and not otherwise defined herein shall have the meaning set forth in the
Credit Agreement. 
  
 At no time shall the outstanding principal
balance hereunder exceed $489,000,000. 
  
 Amounts repaid
hereunder may not be reborrowed. 
  
 The unpaid principal amount
hereof from time to time outstanding shall bear interest from the date hereof at 7.5% per annum: Accrued interest shall be payable on June 30 and December 31 of each year, commencing June 30, 2006. Interest shall be computed for
the actual number of days elapsed on the basis of a year consisting of 360 days. 
  
 Subject to the terms of the Subordination Agreement (as hereinafter defined), principal payments may be made by the undersigned at any time and from time to time upon at least two (2) Business Days’ notice
to the Lender or such shorter period as agreed by the Lender. 
  
 Subject to the terms of the Subordination Agreement (as hereinafter defined), if any Event of Default under (i) Section 6.01(e) of the Credit Agreement in respect of the undersigned or (ii) Section 6.01 of the Credit Agreement
shall occur, then all amounts outstanding hereunder, together with all accrued and unpaid interest thereon, shall be immediately due and payable, without presentment, demand, protest, notice of intent to accelerate, notice of acceleration or any
other notice of any kind, all of which are hereby waived. 
  
 Payments of both principal and interest are to be made in lawful money of the United State of America in immediately available funds. 

 It is the intention of the payee to conform strictly to usury laws applicable to it. Accordingly, if the
transactions contemplated hereby would be usurious as to the payee under laws applicable to it, then, in that event notwithstanding anything to the contrary in this Note or any other instrument or agreement entered into in connection with this Note,
it is agreed as follows: (1) the aggregate of all consideration which constitutes interest under law applicable to the payee that is contracted for, taken, reserved, charged or received by the payee under this Note or under any of the aforesaid
agreements or instruments entered into in connection with this Note or otherwise shall under no circumstances exceed the maximum amount allowed by such applicable law, and any excess shall be credited by such payee on the principal amount of this
Note (or, if the principal amount of this Note shall have been paid in full, refunded by such payee to the undersigned); and (ii) in the event that the maturity of this Note is accelerated by reason of an election of the holder or holders
thereof resulting from any event of default or otherwise, or in the event of any required or permitted prepayment, then such consideration that constitutes interest under law applicable to the payee may never include more than the maximum amount
allowed by such applicable law, and excess interest, if any, provided for in this Note or otherwise shall be automatically cancelled by such payee as of the date of such acceleration or prepayment and, if theretofore paid, shall be credited by such
payee on the principal amount of this Note (or if the principal amount of this Note shall have been paid in full, refunded by such payee to the undersigned). 
  
 In addition to and not in limitation of the foregoing, the undersigned further agrees, subject only to any limitation imposed by applicable law, that
should the indebtedness represented by this Note or any part thereof be collected at law or in equity or in bankruptcy, receivership or other court proceedings, or this Note be placed in the hands of attorneys for collection, the undersigned agrees
to pay, in addition to the principal and interest due and payable hereon, all reasonable expenses, including reasonable attorneys’ fees and legal expenses, incurred by the holder of this Note in endeavoring to collect any amounts payable
hereunder which are not paid when due. 
  
 The undersigned
warrants and represents to the Lender and its assignees that (a) the undersigned is a limited liability company duly formed and validly existing and in good standing under the laws of the the State of Delaware, (b) the execution and
delivery of this Note, and the performance by the undersigned of its obligations hereunder, are within the corporate powers of the undersigned and have been duly authorized by all necessary corporate action on the part of the undersigned, and
(c) this Note is the legal, valid and binding obligation of the undersigned, enforceable in accordance with its terms, the making and performance of which do not and will not contravene or conflict with the articles of incorporation of the
undersigned or any amendment thereto or violate or constitute a default under any law, any presently existing requirement or restriction imposed by judicial, arbitral or other governmental instrumentality or any agreement, instrument or indenture by
which the undersigned is bound. 
  
 No delay on the part of the
Lender or any other holder of this Note in the exercise of any right, power or remedy shall operate as a waiver thereof, nor shall any single or partial exercise of any right, power or remedy preclude other or further exercise thereof, or the
exercise of any other right, power or remedy. No amendment, modification or waiver of, or consent with respect to, any provision of this Note shall in any event be effective unless the same shall be in writing and signed and delivered by the Lender
or the then holder hereof. 
  

 2 

 Notwithstanding anything to the contrary contained herein, pursuant to the terms of a Subordination
and Undertaking Agreement dated as of December 16, 2005 among Lender, the undersigned, Halliburton Company and the Agent (as defined therein) (herein, as amended, modified, supplemented, restated and in effect from time to time called the
“Subordination Agreement”) reference to which is hereby made for all purposes, the payment of all obligations of the undersigned to the Lender under this Note shall be postponed and subordinated to the payment in full of the Senior
Debt Obligations (as defined in the Subordination Agreement and used herein with the same meaning) to the extent provided in the Subordination Agreement. 
  
 All parties hereto, whether as makers, endorsers, or otherwise, severally waive presentment for payment, demand, protest and notice of dishonor.

  
 THIS NOTE SHALL BE DEEMED TO BE A CONTRACT MADE UNDER THE
LAWS OF THE STATE OF NEW YORK AND FOR ALL PURPOSES SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 
  

			
	KBR HOLDINGS, LLC.
		
	By:	 	/s/    Larry J. Henry        
	 	 	 Name:    Larry J. Henry
 Title:      Vice President & Treasurer

  
 Address: 
  
 4100 Clinton Drive

 Houston, TX 77020 
  

 3

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