Document:

EX-10.22.5.10.2

 Exhibit 10.22.5.10.2 

Execution Version 
  

 
  

SECOND AMENDMENT TO THIRD AMENDED AND RESTATED CREDIT AGREEMENT 

dated as of 
 July 17, 2018 

among 
 PRIMEENERGY
CORPORATION, 
 as Borrower, 

THE LENDERS PARTY HERETO, 

COMPASS BANK, 
 as
Administrative Agent, 
 WELLS FARGO BANK, NATIONAL ASSOCIATION, 

as Documentation Agent, 
 and 

BBVA COMPASS, 
 as Sole Lead
Arranger and Sole Book Runner 
  
  

 

 SECOND AMENDMENT TO THIRD AMENDED AND RESTATED CREDIT AGREEMENT 

THIS SECOND AMENDMENT TO THIRD AMENDED AND RESTATED CREDIT AGREEMENT (this “Amendment”) is entered into as of
July 17, 2018, among PRIMEENERGY CORPORATION, a Delaware corporation (the “Borrower”), the financial institutions executing this Amendment as Lenders, and COMPASS BANK, as administrative agent for the Lenders
(in such capacity, the “Administrative Agent”) and as Issuing Bank. 
 R E C I
T A L S 
 A. The Borrower, the Lenders party thereto and the Administrative Agent are parties to that
certain Third Amended and Restated Credit Agreement, dated as of February 15, 2017, and as amended by a First Amendment to Third Amended and Restated Credit Agreement dated as of December 22, 2017 (collectively, the “Original
Credit Agreement”). 
 B. The Existing Lenders party hereto constitute all of the Lenders party to the Original Credit Agreement
immediately prior to the effective date of this Amendment. 
 C. The parties desire to amend the Original Credit Agreement as hereafter
provided. 
 NOW THEREFORE, in consideration of these premises and for other good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the parties hereto agree as follows: 
 1. Same Terms. All terms used herein that
are defined in the Credit Agreement (as hereinafter defined) shall have the same meanings when used herein, unless the context hereof otherwise requires or provides. In addition, from and after the Effective Date, (a) all references in the
Original Credit Agreement and, where appropriate in the context, in the other Loan Documents to the “Credit Agreement” shall be deemed to be references to the Original Credit Agreement, as amended by this Amendment and as the
same may hereafter be amended or otherwise modified from time to time, and (b) all references in the Loan Documents to the “Loan Documents” shall mean the Loan Documents, as amended by the Modification Papers and as the same may
hereafter be amended or otherwise modified from time to time. In addition, the following terms have the meanings set forth below: 

“Credit Agreement” means the Original Credit Agreement, as amended by this Amendment. 

“Effective Date” means the date on which the conditions specified in Section 2 below are
satisfied (or waived in writing by the Administrative Agent). 
 “Modification Papers” means this Amendment, and all
of the other documents and agreements executed in connection with the transactions contemplated by this Amendment. 
 2.
Conditions Precedent. The obligations and agreements of the Lenders as set forth in this Amendment are subject to the satisfaction, unless waived in writing by Administrative Agent, of each of the following conditions (and upon such
satisfaction, this Amendment shall be deemed to be effective as of the Effective Date): 
 A. Amendment. This Amendment shall
have been duly executed and delivered by each of the parties hereto. 
  

  
 SECOND AMENDMENT
TO THIRD AMENDED AND RESTATED CREDIT AGREEMENT – Page 1 

 B. Fees. The Borrower shall have paid to the Administrative Agent the
fees set forth in the Fee Letter between them dated July 2, 2018 
 C. Expenses. Administrative Agent shall have
received payment of all out-of-pocket fees and expenses (including reasonable attorneys’ fees and expenses) incurred by Administrative Agent in connection with the
preparation, negotiation and execution of the Modification Papers. 
 3. Amendments to Original Credit Agreement.
On the Effective Date, the Original Credit Agreement shall be amended as follows: 
 (a) The pricing grid set forth in the
definition of Applicable Margin shall be amended to read in its entirety as follows: 
  

									
	 Borrowing Base

Utilization Percentage
	  	Eurodollar Loans	 	 	ABR Loans	 
	 <25%
	  	 	2.00	% 	 	 	1.00	% 
	 >25% and <50%
	  	 	2.25	% 	 	 	1.25	% 
	 >50% and <75%
	  	 	2.50	% 	 	 	1.50	% 
	 >75% and <90%
	  	 	2.75	% 	 	 	1.75	% 
	 >90%
	  	 	3.00	% 	 	 	2.00	% 

 (b) The definitions of Consolidated Cash Balance, Consolidated Cash Balance Threshold, Excess
Cash and Late Receipts shall be deleted from Section 1.01 of the Original Credit Agreement. 
 (c) Section 2.02(c) of
the Original Credit Agreement shall be amended to read in its entirety as follows: 
 “(c) Minimum Amounts;
Limitation on Number of Borrowings. At the commencement of each Interest Period for any Eurodollar Borrowing, such Borrowing shall be in an aggregate amount that is an integral multiple of $100,000 and not less than $1,000,000. At the time that
each ABR Borrowing is made, such Borrowing shall be in an aggregate amount that is an integral multiple of $10,000 and not less than $1,000,000; provided that an ABR Borrowing may be in an aggregate amount that is equal to the entire unused
balance of the total Commitments or that is required to finance the reimbursement of an LC Disbursement as contemplated by Section 2.08(e). Borrowings of more than one Type may be outstanding at the same time,
provided that there shall not at any time be more than a total of 6 Eurodollar Borrowings outstanding. Notwithstanding any other provision of this Agreement, the Borrower shall not be entitled to request, or to elect to convert or continue,
any Borrowing if the Interest Period requested with respect thereto would end after the Maturity Date.” 
 (d) Section
2.03(a)(vi) of the Original Credit Agreement shall be amended to read in its entirety as follows: 
 “(vi) Reserved.” 

  
 SECOND AMENDMENT TO
THIRD AMENDED AND RESTATED CREDIT AGREEMENT – Page 2 

 (e) Section 2.03(b) of the Original Credit Agreement shall be amended to
read in its entirety as follows: 
 “(b) If no election as to the Type of Borrowing is specified, then the requested
Borrowing shall be an ABR Borrowing. If no Interest Period is specified with respect to any requested Eurodollar Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. Each Borrowing Request
shall constitute a representation that the amount of the requested Borrowing shall not cause the total Revolving Credit Exposures to exceed the total Commitments (i.e., the lesser of the Aggregate Maximum Credit Amounts and the then effective
Borrowing Base).” 
 (f) Section 3.04(c)(iv) of the Original Credit Agreement shall be amended to read in its entirety
as follows: 
 “(iv) Reserved.” 

(g) Section 6.02(c) of the Original Credit Agreement shall be amended to read in its entirety as follows: 

“(c) Reserved.” 

(h) Section 8.18 of the Original Credit Agreement shall be amended to read in its entirety as follows: 

“Section 8.18 Reserved.” 

(i) Section 8.20 of the Original Credit Agreement shall be amended to read in its entirety as follows: 

“Section 8.20 Swap Agreements. The Borrower shall, or shall cause a Subsidiary to, enter into and maintain in
effect, with one or more Approved Counterparties, a commodity price hedge position establishing minimum fixed prices acceptable to the Administrative Agent on a volume of Hydrocarbons equal to not less than 40% of the reasonably projected production
from proved, developed, producing Oil and Gas Properties of the Borrower and its Subsidiaries on a rolling 18-month basis; provided that, the Borrower may proportionally reduce its hedge position
through the termination or unwinding of Swap Agreements in connection with the sale of Oil and Gas Properties permitted pursuant to Section 9.10 such that the Borrower’s hedge position following such sale of Oil and
Gas Properties and corresponding reduction in hedge position shall cover a substantially similar percentage of the total volume of Hydrocarbons produced by the Borrower for the applicable periods as did the Borrower’s hedge position prior to
the sale of such Oil and Gas Properties and corresponding reduction in hedge position.” 
 (j) Section 9.01(b) of the
Original Credit Agreement shall be amended to read in its entirety as follows: 
 “(b) Reserved.“ 

  
 SECOND AMENDMENT TO
THIRD AMENDED AND RESTATED CREDIT AGREEMENT – Page 3 

 (k) Section 9.04(a)(iii) of the Original Credit Agreement shall be amended
to read in its entirety as follows: 
 “(iii) the Borrower may redeem, retire, or repurchase its Equity Interests so long as
(A) the aggregate amount of cash paid in respect of all such Equity Interests redeemed, retired or repurchased in any calendar year does not exceed $10,000,000, (B) no Default, Event of Default or Borrowing Base Deficiency exists or would
result therefrom, and (C) the Borrowing Base Utilization Percentage is less than 85%.” 
 (1) Annex I to the
Original Credit Agreement shall be replaced with Annex I attached to this Amendment 
 4. Increase of Borrowing Base. As of the
Effective Date, the Borrowing Base is hereby increased from $85,000,000 to $90,000,000. The parties hereto agree that the foregoing redetermination of the Borrowing Base constitutes the June 1, 2018 Scheduled Redetermination of the Borrowing
Base pursuant to Section 2.07 of the Credit Agreement. The Borrowing Base, as increased hereby, shall remain in effect until next redetermined in accordance with the provisions of Section 2.07 of the Credit Agreement. 

5. Limited Waiver. Borrower was not in compliance with the provisions of Section 8.20 of the Credit Agreement regarding Swap
Agreements for the period ending June 30, 2018. Such noncompliance is an Event of Default under the Credit Agreement (the “Subject Event of Default”). Subject to the provisions of this Amendment, the Lenders waive the
Subject Event of Default. Except as expressly set forth in this Section 5, nothing in this Amendment is intended to affect the continuing obligations of the Loan Parties to comply with, or the continuing rights of the
Lenders, the Issuing Bank and the Administrative Agent with respect to, any provision of the Credit Agreement or the other Loan Documents. 

6. Certain Representations. The Borrower represents and warrants that, as of the Effective Date: (a) the Borrower has full
power and authority to execute the Modification Papers to which it is a party and such Modification Papers constitute the legal, valid and binding obligation of the Borrower enforceable in accordance with their terms, except as enforceability may be
limited by general principles of equity and applicable bankruptcy, insolvency, reorganization, moratorium, and other similar laws affecting the enforcement of creditors’ rights generally; (b) no authorization, approval, consent or other
action by, notice to, or filing with, any Governmental Authority or other Person is required for the execution, delivery and performance by the Borrower thereof; and (c) no Default has occurred and is continuing or will result from the
consummation of the transactions contemplated by this Amendment. In addition, the Borrower represents that after giving effect to the Modification Papers, all representations and warranties contained in the Credit Agreement and the other Loan
Documents are true and correct in all material respects (provided that any such representations or warranties that are, by their terms, already qualified by reference to materiality or Material Adverse Effect shall be true and correct without regard
to such additional materiality qualification) on and as of the Effective Date as if made on and as of such date, except to the extent that any such representation or warranty expressly relates to an earlier date, in which case such representation or
warranty is true and correct in all material respects (or true and correct without regard to such additional materiality qualification, as applicable) as of such earlier date. 

7. No Further Amendments. Except as previously amended or waived in writing or as amended or waived hereby, the Credit Agreement
shall remain unchanged and all provisions shall remain fully effective between the parties thereto. 
 8. Acknowledgments and
Agreements. The Borrower acknowledges that on the date hereof all outstanding Secured Obligations are payable in accordance with their terms, and the Borrower waives any defense, offset, counterclaim or recoupment with respect thereto. Each
of the Borrower, the 

  
 SECOND AMENDMENT TO
THIRD AMENDED AND RESTATED CREDIT AGREEMENT – Page 4 

 
Administrative Agent, the Issuing Bank and the Lenders does hereby adopt, ratify and confirm the Credit Agreement and acknowledges and agrees that the Credit Agreement is and remains in full
force and effect. The Borrower acknowledges and agrees that its liabilities and obligations under the Credit Agreement and the other Loan Documents are not impaired in any respect by this Amendment. 

9. Limitation on Agreements. The modifications set forth herein are limited precisely as written and shall not be deemed
(a) to be a consent under or a waiver of or an amendment to any other term or condition in the Credit Agreement or any of the other Loan Documents, or (b) to prejudice any other right or rights that the Administrative Agent, the Issuing
Bank or the Lenders now have or may have in the future under or in connection with the Credit Agreement and the other Loan Documents or any of the other documents referred to herein or therein. The Modification Papers shall constitute Loan Documents
for all purposes. 
 10. Confirmation of Security. The Borrower hereby confirms and agrees that all of the Security Instruments
that presently secure the Secured Obligations shall continue to secure, in the same manner and to the same extent provided therein, the payment and performance of the Secured Obligations as described in the Credit Agreement. 

11. Counterparts. This Amendment may be executed in any number of counterparts, each of which when executed and delivered shall
be deemed an original, but all of which constitute one instrument. In making proof of this Amendment, it shall not be necessary to produce or account for more than one counterpart thereof signed by each of the parties hereto. Delivery of an executed
counterpart of this Amendment by facsimile or other electronic means shall be deemed effective as delivery of a manually executed counterpart of this Amendment. 

12. Incorporation of Certain Provisions by Reference. The provisions of Section 12.09 of the Credit Agreement captioned
“Governing Law, Jurisdiction, Consent to Service of Process” is incorporated herein by reference for all purposes. 
 13.
Release. To induce the Administrative Agent, the Issuing Bank and the Lenders to agree to the terms hereof, Borrower represents and warrants that as of the Effective Date, there are no claims or offsets or defenses or counterclaims to
Borrower’s obligations under the Loan Documents, and in accordance therewith Borrower: 
 (a) waives any and all such
claims, offsets, defenses or counterclaims, whether known or unknown, arising under the Loan Documents prior to the Effective Date; and 

(b) releases and discharges each of the Administrative Agent, the Issuing Bank, the Lenders and their respective Related
Parties (collectively, the “Released Parties”) from any and all obligations, indebtedness, liabilities, claims, rights, causes of action or other demands whatsoever, whether known or unknown, suspected or unsuspected, in law
or equity, which Borrower ever had, now has or claims to have or may have against any Released Party arising prior to the Effective Date and from or in connection with the Loan Documents or the transactions contemplated thereby. 

14. Entirety, Etc. This Amendment, the other Modification Papers and all of the other Loan Documents embody the entire agreement
among the parties. THIS AMENDMENT, THE OTHER MODIFICATION PAPERS AND ALL OF THE OTHER LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT AMONG THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS OF
THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS AMONG THE PARTIES. 
 [This space is left intentionally blank. Signature pages
follow.] 

  
 SECOND AMENDMENT TO
THIRD AMENDED AND RESTATED CREDIT AGREEMENT – Page 5 

 IN WITNESS WHEREOF, the parties hereto have executed this Amendment to be effective as of
the Effective Date. 
  
  

							
	BORROWER:	 		 	PRIMEENERGY CORPORATION
				
		 		 	By:	 	 /s/ Beverly A. Cummings

		 		 		 	Name: Beverly A. Cummings
		 		 		 	Title: Executive Vice President

  
 SECOND AMENDMENT TO
THIRD AMENDED AND RESTATED CREDIT AGREEMENT – Signature Page S-1 

							
	ADMINISTRATIVE AGENT:	 		 	COMPASS BANK,
as Administrative Agent
				
		 		 	By:	 	 /s/ Kathleen J. Bowen

		 		 		 	Name: Kathleen J. Bowen
		 		 		 	Title: Managing Director
			
	ISSUING BANK:	 		 	COMPASS BANK,
as Issuing Bank
				
		 		 	By:	 	 /s/ Kathleen J. Bowen

		 		 		 	Name: Kathleen J. Bowen
		 		 		 	Title: Managing Director
			
	LENDER:	 		 	COMPASS BANK,
		 		 	as a Lender
				
		 		 	By:	 	 /s/ Kathleen J. Bowen

		 		 		 	Name: Kathleen J. Bowen
		 		 		 	Title: Managing Director

  
 SECOND AMENDMENT TO
THIRD AMENDED AND RESTATED CREDIT AGREEMENT –Signature Page S-2 

							
	LENDER:	 		 	CITIBANK, N.A.,
		 		 	as a Lender
				
		 		 	By:	 	 /s/ Ryan Watson

		 		 		 	Name: Ryan Watson
		 		 		 	Title:   SVP

  
 SECOND AMENDMENT TO
THIRD AMENDED AND RESTATED CREDIT AGREEMENT –Signature Page S-3 

							
	LENDER:	 		 	WELLS FARGO BANK, N.A.,
		 		 	as a Lender
				
		 		 	By:	 	 /s/ Ellen Cheng

		 		 		 	Name: Ellen Cheng
		 		 		 	Title:   Vice President

  
 SECOND AMENDMENT TO
THIRD AMENDED AND RESTATED CREDIT AGREEMENT –Signature Page S-4 

							
	LENDER:	 		 	FIFTH THIRD BANK,
		 		 	as a Lender
				
		 		 	By:	 	 /s/ Justin Bellamy

		 		 		 	Name: Justin Bellamy
		 		 		 	Title:   Director

  
 SECOND AMENDMENT TO
THIRD AMENDED AND RESTATED CREDIT AGREEMENT –Signature Page S-5 

 ANNEX I 

LIST OF MAXIMUM CREDIT AMOUNTS 

Aggregate Maximum Credit Amounts 
  

									
	 Name of Lender
	  	Applicable Percentage	 	 	Maximum Credit Amount	 
	 Compass Bank
	  	 	33.333333333	% 	 	$	100,000,000.00	 
	 Wells Fargo Bank, National Association
	  	 	27.777777778	% 	 	$	83,333,333.33	 
	 Citibank, N.A.
	  	 	22.222222222	% 	 	$	66,666,666.67	 
	 Fifth Third Bank
	  	 	16.666666667	% 	 	$	50,000,000.00	 
	 TOTAL:
	  	 	100.000000000	% 	 	$	300,000,000.00	 

  
 ANNEX–Page SoloExhibit

Exhibit 10.1
AMENDMENT TO EMPLOYMENT AGREEMENT 
THIS AMENDMENT TO EMPLOYMENT AGREEMENT (this “Amendment”) by and between DXC Technology Company, a Nevada corporation (the “Company”), and J. Michael Lawrie (the “Executive” and, together with the Company, the “Parties”), shall be effective as of August 15, 2018 (as defined below) (the “Amendment Effective Date”). 
WHEREAS, the Company and Executive are parties to that certain Employment Agreement (the “Employment Agreement”) originally dated as of February 7, 2012, as amended; 
WHEREAS, the Term of Employment, as defined in the Employment Agreement, is currently scheduled to expire on March 31, 2019; 
WHEREAS, the Parties now wish to amend the Employment Agreement to extend the Employment Agreement for an additional one-year period; 
WHEREAS, the Board of Directors of the Company has approved the amendment of the Employment Agreement in the manner reflected herein. 
NOW THEREFORE, in consideration of the premises and mutual covenants and conditions herein, the Parties, intending to be legally bound, hereby agree as follows, effective as of the Amendment Effective Date: 
1. As of the Amendment Effective Date, the Term of Employment shall be extended through the earliest to occur of (i) March 31, 2020 or (ii) the date of termination of Executive’s employment in accordance with any one of Sections 5(a) through 5(f) of the Employment Agreement; provided, however, that the Term of Employment is subject to annual Amendment upon mutual agreement of the Parties not later than six (6) months prior to the end of the Company’s fiscal year 2020 or any extended annual period. 
2. Capitalized terms used but not defined in this Amendment shall have the meanings given to them in the Employment Agreement. This Amendment may be executed in two or more counterparts each of which shall be legally binding and enforceable. 
3. All terms and provisions of the Employment Agreement not amended hereby, either expressly or by necessary implication, shall remain in full force and effect. From and after the date of this Amendment, all references to the term “Agreement” in the Employment Agreement shall include the terms contained in this Amendment. 
[Signature Page Follows] 

IN WITNESS WHEREOF, the Parties hereto have executed this Amendment to Employment Agreement effective as of the Amendment Effective Date. 
 
	
					
	 
	 
	 
	 
	 

	Executive:
	 
	 
	 
	For the Company:

	 
	 
	 

	/s/ J. Michael Lawrie
	 
	 
	 
	/s/ William Deckelman

	Signature
	 
	 
	 
	Name:  William Deckelman

	 
	 
	 
	 
	Title:    Executive Vice President, General Counsel and Secretary

	J. Michael Lawrie
	 
	 
	 
	 

	Printed Name
	 
	 
	 
	 

	

	 
	 

	8/15/2018
	 
	 
	 
	 

	Date

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