Document:

Exhibit 4.2.1

 

FIRST SUPPLEMENTAL INDENTURE

 

SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”), dated as of September 25, 2013, among Walter Energy Holdings, LLC (the “Guaranteeing Subsidiary”), a subsidiary of Walter Energy, Inc., a Delaware corporation (the “Issuer”), the Issuer, the other Guarantors (as defined in the Indenture referred to herein) and Union Bank, N.A., as trustee under the Indenture referred to below (the “Trustee”),

 

W I T N E S S E T H

 

WHEREAS, the Issuer has heretofore executed and delivered to the Trustee an indenture (the “Indenture”), dated as of March 27, 2013 providing for the issuance of 8.500% Senior Notes due 2021 (the “Notes”);

 

WHEREAS, the Indenture provides that under certain circumstances the Guaranteeing Subsidiary shall execute and deliver to the Trustee a supplemental indenture pursuant to which the Guaranteeing Subsidiary shall unconditionally guarantee all of the Issuer’s Obligations under the Notes and the Indenture on the terms and conditions set forth herein (the “Note Guarantee”); and

 

WHEREAS, pursuant to Section 9.01 of the Indenture, the Trustee is authorized to execute and deliver this Supplemental Indenture.

 

NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged, the Guaranteeing Subsidiary and the Trustee mutually covenant and agree for the equal and ratable benefit of the Holders of the Notes as follows:

 

1.                                      CAPITALIZED TERMS. Capitalized terms used herein without definition shall have the meanings assigned to them in the Indenture.

 

2.                                      AGREEMENT TO GUARANTEE. The Guaranteeing Subsidiary hereby agrees to provide an unconditional Guarantee on the terms and subject to the conditions set forth in the Note Guarantee and in the Indenture including but not limited to Article 10 thereof.

 

4.                                      NO RECOURSE AGAINST OTHERS. No director, manager, officer, employee, incorporator, stockholder or member of the Guaranteeing Subsidiary, as such, will have any liability for any obligations of the Issuer or any Guaranteeing Subsidiary under the Notes, the Indenture, any Note Guarantees or this Supplemental Indenture or for any claim based on, in respect of or by reason of, such obligations or their creation, Each Holder of Notes by accepting a Note waives and releases all such liability, The waiver and release are part of the consideration for issuance of the Notes. Such waiver may not be effective to waive liabilities under the federal securities laws.

 

5.                                      NEW YORK LAW TO GOVERN. THE LAW OF THE STATE OF NEW YORK WILL GOVERN AND BE USED TO CONSTRUE AND ENFORCE THIS SUPPLEMENTAL INDENTURE.

 

6.                                      COUNTERPARTS. The parties may sign any number of copies of this Supplemental Indenture, Each signed copy shall be an original, but all of them together represent the same agreement, The exchange of copies of this Supplemental Indenture and of signature pages by facsimile or PDF transmission shall constitute effective execution and delivery of this instrument as to the parties hereto and may be used in lieu of the original instrument for all purposes. Signatures of the parties hereto transmitted by facsimile or PDF shall be deemed to be their original signatures for all purposes.

 

 

7.                                      EFFECT OF HEADINGS. The Section headings herein are for convenience only and shall not affect the construction hereof.

 

8.                                      THE TRUSTEE. The Trustee shall not be responsible in any manner whatsoever for or in respect of the validity or sufficiency of this Supplemental Indenture or for or in respect of the recitals contained herein, all of which recitals are made solely by the Guaranteeing Subsidiary and the Issuer.

 

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IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly executed as of the date first above written.

 

	
 
    	
WALTER ENERGY HOLDINGS, LLC
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Earl H. Doppelt
    
	
 
    	
 
    	
Name: Earl H. Doppelt
    
	
 
    	
 
    	
Title: Secretary
    
	
 
    	
 
    
	
 
    	
WALTER ENERGY, INC,
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Earl H. Doppelt
    
	
 
    	
 
    	
Name: 
    
	
 
    	
 
    	
Title: 
    
	
 
    	
 
    
	
 
    	
ON BEHALF OF THE GUARANTORS LISTED ON SCHEDULE I TO THE INDENTURE
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Earl H. Doppelt
    
	
 
    	
 
    	
Name: Earl H. Doppelt
    
	
 
    	
 
    	
Title: Secretary
    
	
 
    	
 
    
	
 
    	
UNION BANK, N.A.,
    
	
 
    	
as Trustee
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ [ILLEGIBLE]
    
	
 
    	
 
    	
Authorized Signatory
    

 

3Exhibit 10.3.2

 

WALTER ENERGY, INC.

 

AMENDMENT TO THE EXECUTIVE CHANGE-IN-CONTROL SEVERANCE AGREEMENT OR AMENDED AND RESTATED EXECUTIVE CHANGE-IN-CONTROL SEVERANCE AGREEMENT, AS APPLICABLE

 

THIS AMENDMENT TO THE EXECUTIVE CHANGE-IN-CONTROL SEVERANCE AGREEMENT OR AMENDED AND RESTATED EXECUTIVE CHANGE-IN-CONTROL SEVERANCE AGREEMENT, as applicable (this “Amendment”), is made as of January 1, 2014 (the “Amendment Date”) by and between Walter Energy, Inc. (the “Company”) and (“Executive” and, together with the Company, the “Parties”).

 

WHEREAS, the Parties entered into the Executive Change-in-Control Severance Agreement or the Amended and Restated Executive Change-in-Control Severance Agreement, as applicable, on January 1, 2014 (the “Agreement”); and

 

WHEREAS, the Parties desire to amend the Agreement as set forth below.

 

NOW THEREFORE, for good and valid consideration, the sufficiency of which is hereby acknowledged, the Agreement is hereby amended as follows:

 

1.                                      “Article 1. Definitions” is hereby amended as follows: to the extent that the Agreement does not contain a definition of the term “Target Bonus”, the following definition shall be inserted in the applicable alphabetical order:

 

“‘Target Bonus’ means the Executive’s annual target bonus established under the annual bonus plan in which the Executive is then participating.”

 

2.                                      Section 2.3(b)(ii) of the Agreement is hereby amended in its entirety to read as follows:

 

“the higher of: (A) the Executive’s Target Bonus for the bonus plan year in which the Executive’s Effective Date of Termination occurs, or (B) the Executive’s Target Bonus for the bonus plan year in which the Change in Control occurs.”

 

3.                                      The second sentence of Section 2.3(b) of the Agreement is hereby deleted in its entirety.

 

4.                                      To the extent applicable, the third sentence of Section 2.3(b) of the Agreement is hereby deleted in its entirety.

 

5.                                      To the extent applicable, Section 2.3(c)(ii) of the Agreement is hereby amended in its entirety to read as follows:

 

 

“the higher of: (A) the Executive’s Target Bonus for the bonus plan year in which the Executive’s Effective Date of Termination occurs, or (B) the Executive’s Target Bonus for the bonus plan year in which the Change in Control occurs.”

 

6.                                      To the extent applicable, the second sentence of Section 2.3(c) of the Agreement is hereby deleted in its entirety.

 

7.                                      Except as provided herein, all other terms of the Agreement will remain in full force and effect.  To the extent not preempted by the laws of the United States, the laws of Delaware shall be the controlling law in all matters relating to this Agreement without giving effect to principles of conflicts of laws, and any dispute arising out of, relating to or in connection with the Amendment shall be subject to the same dispute resolution procedures as provided in the Agreement with respect to any dispute thereunder.

 

8.                                      This Amendment shall be effective upon execution by each of the Parties.  This Amendment may be executed in one or more counterparts, each of which shall be deemed to be an original but all of which together will constitute one and the same instrument.

 

[The remainder of this page intentionally left blank.]

 

 

IN WITNESS WHEREOF, the Parties have executed this Amendment as of the day and year first above written.

 

 

	
 
    	
WALTER   ENERGY INC.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
EXECUTIVE
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    

 

[Signature Page to Amendment to Agreement]Exhibit 10.10.1

 

AMENDMENT NO. 1

TO THE

AMENDED AND RESTATED

2002 LONG-TERM INCENTIVE AWARD PLAN

OF

WALTER ENERGY, INC.

 

THIS AMENDMENT NO. 1 to the Amended and Restated 2002 Long-Term Incentive Award Plan of Walter Energy, Inc. (the “Plan”) is executed by Walter Energy, Inc. (the “Company”) as of the date set forth below.

 

W I T N E S S E T H:

 

WHEREAS, the Company maintains the Plan to foster the growth, development and financial success of the Company;

 

WHEREAS, the Administrator (as defined in the Plan) desires to amend the Plan to make certain changes related to Awards (as defined in the Plan) granted to Independent Directors (as defined in the Plan); and

 

WHEREAS, the Administrator reserved the right, pursuant to Section 11.2 of the Plan, to make certain amendments thereto.

 

NOW, THEREFORE, pursuant to Section 11.2 of the Plan, and effective as of the date set forth below, the Administrator hereby amends the Plan as follows:

 

1.                                      The fourth sentence of Section 4.5(a) of the Plan is hereby deleted in its entirety.

 

2.                                      The last sentence of Section 4.5(b) of the Plan is hereby amended in its entirety to read as follows:

 

“In the event an Award other than an Option is granted to an Independent Director, the Independent Director shall be subject to the terms and conditions applicable to such Award as may be established by the Administrator, in its sole discretion.”

 

3.                                      Section 8.5 of the Plan is hereby amended by adding the following sentence to the end thereof.

 

“Any Deferred Stock granted to an Independent Director shall by its terms become vested in full upon the retirement of the Independent Director at age 65 with 5 years of service as an Independent Director.”

 

4.                                      Section 8.8 of the Plan is hereby deleted in its entirety.

 

Except as provided herein, all other terms of the Plan shall remain in full force and effect.

 

 

This Amendment shall be administered, interpreted and enforced under the internal laws of the State of Delaware without regard to conflicts of laws thereof.

 

[The Remainder of This Page is Intentionally Left Blank.]

 

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IN WITNESS WHEREOF, WALTER ENERGY, INC., by its duly authorized officer, has caused this Amendment No. 1 to the Amended and Restated 2002 Long-Term Incentive Award Plan of Walter Energy Inc. to be signed this     day of October, 2013.

 

	
 
    	
WALTER ENERGY, INC.
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
Its:
    	
 
    

 

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