Document:

exv10w26wb

Exhibit 10.26(b)

AMENDMENT TO NOTE AGREEMENT

     This Amendment (this “Amendment”), dated as of March 10, 2010, to the Note Agreement, dated as
of November 17, 2009 (the “Note Agreement”), is made and entered into by and between Endeavour
International Corporation, a Nevada Corporation (the “Company”), the Initial Noteholders listed on
the signature pages hereto and the Guarantors listed on the signature pages hereto.

RECITALS

     WHEREAS, the parties hereto have entered into the Note Agreement; and

     WHEREAS, the parties to this Amendment desire to make certain amendments to the Note Agreement
in order to clarify the meaning of Section 10.2 of the Note Agreement, all as specifically set
forth herein.

     NOW, THEREFORE, the parties hereto agree as follows:

Section 1. Defined Terms; References. Unless otherwise specifically defined herein, each term used
herein which is defined in the Note Agreement has the meaning assigned to such term in the Note
Agreement. Each reference to “hereof”, “hereunder”, “herein” and “hereby” and each other similar
reference and each reference to “this Agreement” and each other similar reference contained in the
Note Agreement shall, after this Amendment becomes effective, refer to the Note Agreement as
amended hereby.

Section 2. Amendment. Section 10.2 of the Note Agreement is amended and restated in its entirety
as follows:

10.2 Common Stock Repurchase. The Company shall neither (A) purchase, redeem
or otherwise acquire any shares of the common stock, par value $0.001 per share, of
the Company at a price per share greater than the Current Market Price (as defined in
the Certificate of Designations of Series C Preferred Stock of the Company filed
October 20, 2006, as amended) nor (B) except as expressly permitted by Sections 10.5
and 10.8 hereof, purchase, redeem or otherwise acquire Options or Convertible
Securities (as defined in the Certificate of Designations of Series C Preferred Stock
of the Company filed October 20, 2006, as amended) for a consideration per share of
common stock into which such security is convertible or exchangeable greater than the
Current Market Price as of the date of such purchase, redemption or acquisition, as
applicable.

Section 3. Governing Law. THIS AMENDMENT SHALL IN ALL RESPECTS BE GOVERNED BY, AND CONSTRUED AND
ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK, WITHOUT GIVING EFFECT TO ANY
CONFLICT OF LAWS RULES THEREOF TO THE EXTENT THEY ARE NOT

 

 

MANDATORILY APPLICABLE BY STATUTE AND WOULD REQUIRE OR PERMIT THE APPLICATION OF THE LAW OF ANOTHER
JURISDICTION.

Section 4. Counterpart; Facsimile. This Amendment may be executed in any number of counterparts,
all of which taken together shall constitute one and the same instrument, and each of the parties
hereto may execute this Amendment by signing any such counterpart. Any facsimile copies hereof or
signature hereon shall, for all purposes, be deemed originals.

Section 5. Effect of Amendment. This Amendment shall be effective as of November 17, 2009 upon its
execution and delivery by a number of Noteholders holding at least two-thirds of the principal
amount of all Notes. Except as amended hereby, the Note Agreement shall remain unchanged and
effective. The Note Agreement as amended hereby shall continue in full force and effect.

[Signature Pages Follow]

     IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the date first above
written.

	 	 	 	 	 
	 	ENDEAVOUR INTERNATIONAL CORPORATION

 	 
	 	/s/ J. Michael Kirksey
 	 
	 	J. Michael Kirksey 	 
	 	Chief Financial Officer 	 
	 

 

 

Signatures

	 	 	 
	/s/Gaurav Bhandari
 

Gaurav Bhandari

	 	 
	Goldman, Sachs Investment Partners Master Fund, L.P.
	 	 

	 	 	 	 	 
	/s/ Terence Aquino
 

Terence Aquino

	 	/s/ Mark J. Vanacore
 

Mark J. Vanacore
	 	 
	Chief Financial Officer

	 	Trading Manager	 	 
	Eton Park Capital Management, LP

	 	High Bridge International, LLC.	 	 
	 
	 	 	 	 
	/s/ Terence Aquino
 

Terence Aquino

	 	/s/ Martin Kobinger
 

Martin Kobinger
	 	 
	Chief Financial Officer

	 	Investment Manager	 	 
	Eton Park Master Fund, LTD.

	 	Capital Ventures International	 	 
	 
	 	 	 	 
	/s/ Mary Lee
 

Mary Lee

	 	/s/ R. Jeffrey Bruce
 

R. Jeffrey Bruce
	 	 
	Chief Legal Officer

	 	Vice President	 	 
	TPG-Axon Partners, L.P.

	 	Professional Life and Casualty	 	 
	 
	/s/ Mary Lee
 

Mary Lee

	 	/s/ J. Baker Gentry, Jr.
 

J. Baker Gentry, Jr.
	 	 
	Chief Legal Officer

	 	Investment Advisor	 	 
	TPG-Axon Partners(Offshore), LTD.

	 	HBK Master Fund, L.P.	 	 

	 	 	 
	/s/ Paul Smith
 

Paul Smith

	 	 
	General Counsel
	 	 
	Magnetar Capital Master Fund, LTD.Exhibit 10.18

Exhibit 10.18

Western Alliance Bancorp

WAL Parent

Annual Bonus Plan 2010

Objective: The purpose of this Annual Bonus Plan is to provide incentives and rewards for superior
performance in order to attract and retain highly qualified team members and to maximize financial
performance so that Western Alliance Bancorp (WAL) will meet and exceed its goals.

Eligibility: Selected team members who are employed by WAL as of January 1st of the Plan
Year. Bonuses for team members hired after January 1st but on or before September
30th of a Plan Year will be prorated. Team members hired after September 30th
may be eligible the following Plan Year.

Effective Date: January 1, 2010. This Plan supersedes all others before it.

Frequency of Awards: Awards will be paid annually within 90 days after the end of the Plan Year.
Participants must be employed at the payment date to receive any bonus compensation under this
Plan.

Plan Administrator: WAL Compensation Committee will administer and approve the Plan annually. The
day to day details of the Plan will be monitored by an internal committee made up of WAL Chief
Executive Officer, Chief Financial Officer, and Chief Administrative Officer.

How the Plan Works: Subject to the terms of the Plan, bonus calculations will be based on the
following factors: 1) Organic Deposit growth, 2) Organic Loan Growth, 3) ROA, 4) Credit Quality
(Net Charge Offs and NPA’s) and 5) QUALITY control (Regulatory exams and Internal Audits).

A Target bonus percentage expressed as a percent of Base Salary will be established for each
Participant. A payout at the maximum level requires outstanding performance for the year in all
components of the Plan.

Base Salary is defined as the Participant’s actual salary earned for the year which includes pay
for regular hours worked plus paid holiday, sick, and vacation hours; earnings received while on a
Leave of Absence are not included in this calculation.

	 	A.	 	Organic Deposit Performance is weighted 15%

This portion of the bonus will be calculated based on Bank performance in Organic Deposit
Growth.

Senior Management will agree on final budget projections that will be translated into

financial performance goals.

Organic Deposit Growth

	 	1.	 	In setting the Budget for each Bank, Organic Deposit Growth Goals will be
established.

	 
	 	2.	 	As soon as possible after the end of the Plan Year, the Finance Department will
measure the Actual Organic Deposit Growth results for the Bank. Adjustments may be made
to these calculations to account for staff transfers, windfalls, etc.

	 
	 	3.	 	Following are the definitions/calculations on which this portion of the bonus
will be based:

	 	a.	 	A calculation will be made for the Bank Growth in Organic Deposits (15%
of target).

	 	b.	 	Calculation: The percent of Target bonus paid for Organic Deposit Growth
will each be calculated based on the following schedule:

	 	c.	 	Organic Deposits will be calculated on organic growth and will not
include increases in deposits acquired by acquisition.

Chart for Organic Deposit Growth 15% of target

	 	 	 
	Bank Performance	 	Percent of Target
	Organic Deposit Growth	 	Paid
	WAL Parent	 	(Organic Deposits)
	 
	 	 
	Less than <9%

	 	No Bonus paid
	 
	 	 
	Between 9% — 12%

	 	50% to 75%
	 
	 	 
	Between 12% — 15%

	 	75% to 100%
	 
	 	 
	Between 15% — 19%

	 	100% to 125%
	 
	 	 
	Between 19% — 23%

	 	125% to 150%

 

 

 

	 	4.	 	In order to receive more than 100% of the Organic Deposit growth portion of the
bonus:

	 	a.	 	Bank must achieve a growth of at least 15% plus in Organic Deposits to
pay more than 100% for the goal being measured, and

	 
	 	b.	 	Participant must meet individual goals in this respective area.

	 	B.	 	Organic Loan Growth is weighted 15%

This portion of the bonus will be calculated based on Bank performance in Loan Growth.

Senior Management will agree on final budget projections that will be translated into

financial performance goals.

Loans Growth

	 	1.	 	In setting the Budget for each Bank, Loan Growth Goals will be established.

	 
	 	2.	 	As soon as possible after the end of the Plan Year, the Finance Department will
measure the Actual Loan results for the Bank. Adjustments may be made to these
calculations to account for staff transfers, windfalls, etc.

	 
	 	3.	 	Following are the definitions/calculations on which this portion of the bonus
will be based:

	 	d.	 	A calculation will be made for the Bank Growth in Total Loans (15% of
target).

	 
	 	e.	 	Calculation: The percent of Target bonus paid for Loan will each be
calculated based on the following schedule:

	 
	 	f.	 	Loans will be calculated on organic growth and will not include increases
in loans acquired by acquisition.

Chart for Organic Loan Growth 15% of target

	 	 	 
	Bank Performance	 	Percent of Target
	Loan Growth	 	Bonus Paid
	WAL Parent	 	(Loans)
	 
	 	 
	Less than <6%

	 	No Bonus paid
	 
	 	 
	Between 6% — 8%

	 	50% to 75%
	 
	 	 
	Between 8% — 10%

	 	75% to 100%
	 
	 	 
	Between 10% — 13%

	 	100% to 125%
	 
	 	 
	Between 13% — 16%

	 	125% to 150%

	 	4.	 	In order to receive more than 100% of the Loan growth portion of the bonus:

	 	a.	 	Bank must achieve a growth of at least 10% plus in Loans to pay more than
100% for the goal being measured, and

	 
	 	b.	 	Participant must meet individual goals in this respective area.

	 	C.	 	ROA is weighted 30%

This portion of the bonus will be calculated on Pre-tax, Pre-provision, Pre-security and
Pre-REO ROA

Senior Management will agree on final budget projections that will be translated into

financial performance goals.

 

2

 

Chart for ROA Growth 1st Half 15% of target

	 	 	 
	Bank Performance	 	Percent of Target
	ROA	 	Bonus Paid
	WAL Parent	 	(ROA)
	 
	 	 
	Less than <1.20%

	 	No Bonus paid
	 
	 	 
	Between 1.20% — 1.25%

	 	50% to 75%
	 
	 	 
	Between 1.25% — 1.30%

	 	75% to 100%
	 
	 	 
	Between 1.30% — 1.35%

	 	100% to 125%
	 
	 	 
	Between 1.35% — 1.40%

	 	125% to 150%

Chart for ROA Growth 2nd Half 15% of target

	 	 	 
	Bank Performance	 	Percent of Target
	ROA	 	Bonus Paid
	WAL Parent	 	(ROA)
	 
	 	 
	Less than <1.40%

	 	No Bonus paid
	 
	 	 
	Between 1.40% — 1.45%

	 	50% to 75%
	 
	 	 
	Between 1.45% — 1.50%

	 	75% to 100%
	 
	 	 
	Between 1.50% — 1.55%

	 	100% to 125%
	 
	 	 
	Between 1.55% — 1.60%

	 	125% to 150%

	 	D.	 	Credit Quality is weighted 30%

This portion of the bonus will be calculated on Net Charge Offs (weighted 15%) and NPA’s
(weighted 15%)

	 	 	 
	Bank Performance	 	Percent of Target
	WAL Parent	 	Bonus Paid
	 
	 	 
	Net Charge Offs weighted 15%
	 	 
	Less than <2% for year

	 	Pass/Fail
	 
	 	 
	NPA’s weighted 15%
	 	 
	Less than <3% average of 4 Q ends for year

	 	Pass/Fail

	 	E.	 	Quality Control is weighted 10%

	 	1.	 	Quality control refers to the effectiveness of the Corporation’s regulatory
examinations, internal audits.

	 
	 	2.	 	Quality Control will be measured in the following two areas:

	 	a.	 	All Regulatory Examines (5%) must be level 2 or better

	 
	 	b.	 	Internal Audits (5%) must be at least passing

	 	3.	 	The maximum pay out on this quality control is 100%

	 	F.	 	Other Calculation Provisions

	 	1.	 	Participants must meet individual loan and organic deposit production goals, if
assigned, or their total bonus may be reduced or eliminated.

	 
	 	2.	 	The aggregate total of the bonuses paid to Participants in each Bank cannot exceed
20.0% of the Net Income for that Bank. If it does, the payments will be pro-rated and
re-calculated as a percent of the actual Net Income of the Bank.

 

3

 

	 	3.	 	A participants bonus may be reduced or eliminated if in the discretion of Management, i) the
department’s loan review and/or audits are rated below satisfactory and/or not adhering to
safety, soundness, and approved operational procedures, ii) any participant, their branch or
department earns a rating of less than “Satisfactory,” iii) the department’s credit
underwriting and/or portfolio management practices are rated below “Satisfactory” and/or not
adhering to safety and soundness, or iv) the participant, their branch or department has not
contributed adequately to the financial results attributed to them.

	 
	 	4.	 	With the approval of the Incentive Compensation Committee, a participant’s bonus may be
increased over his/her assigned Target bonus percentage in order to recognize extraordinary
performance. The Division Executive will provide written documentation to the Incentive
Compensation Committee to support the recommendation.

	 	G.	 	Other Administrative Provisions:

	 	1.	 	This is a discretionary bonus plan and, in order to receive payment of
any bonus under this Plan, the participant must be employed by the Bank at the time payment
is made, which will be no later than March 15th.

	 
	 	2.	 	Designation as a Participant in the Plan does not create a contract of employment for
any specified time, nor shall such act to alter or amend the Bank’s “at-will” policy of
employment.

	 
	 	3.	 	If any Participant’s performance is rated as falling below job expectations or as less
than satisfactory at any time during the Plan Year, or if the Participant is subject to any
written disciplinary action, the bonus payment will be reduced or eliminated.

	 
	 	4.	 	Participants who transfer during the year will participate in the Plan applicable to
the department they are in at year-end. If extenuating circumstances arise, exceptions to
this policy will be considered on a case by case basis.

	 
	 	5.	 	A change in officer title occurring during the year will not change the target bonus
percentage.

	 
	 	6.	 	Awards will be paid through the normal payroll process to participants. All awards will
be subject to applicable taxes. Awards do not constitute commissions or additional wages,
and Participants have no vested interests in the benefits of the Plan, except as expressly
provided for herein.

	 
	 	7.	 	Awards under this Plan will be used in calculating covered earnings for benefit
purposes for the 401(k) and Life Insurance Plans but not for Long Term Disability
Insurance.

	 
	 	8.	 	Timely and accurate completion of all business plans, reports, budgets and other
planning exercises is required for payment under the Plan.

	 
	 	9.	 	Acknowledgment from the HR Department that offices and officers have conformed to bank
policy in timeliness of annual reviews, controllable turnover, and all other areas of HR
administration is required for payment under this Plan.

	 
	 	10.	 	Performance measurements and statistics will be based on calculations completed by the
Finance Division of WAL. Any questions about the results or the bonus calculations must be
submitted to the Plan Administrator within 30 days after the calculations have been
completed and published, after which time no inquiries will be considered.

	 
	 	11.	 	Management retains the right in its sole discretion to adjust bonuses to reflect
“windfall” changes (i.e., transfer of unusually large accounts or loans between offices,
etc.).

	 
	 	12.	 	This Plan is governed and interpreted by the Plan Administrator, whose decisions shall
be final. This is a discretionary program and the Plan Administrator or the Board of
Directors of WAL reserves the right to terminate or alter this bonus program at any time.

	 
	 	13.	 	Participants are eligible to participate in only one annual bonus plan (could also be
paid out quarterly), and Management has the discretion to assign any team member to the
particular plan it deems appropriate.

	 
	 	14.	 	The intent of Bank Management is to fairly reward team members for adding value to the
Bank. If any adjustments need to be made to allow this Plan to accomplish its purpose, the
Incentive Compensation Committee in its sole discretion can make those adjustments.

Sample Calculation:

	1.	 	WAL Organic Deposit Growth Performance is weighted 15%

	 	 	 	 	 
	Organic Deposit Growth Performance	 	WAL Parent	 
	 
	 	 	 	 
	Deposit Growth Achieved
	 	 	15	%
	 
	 	 	 	 
	% of Deposit Target Bonus Paid
	 	 	100	%
	 
	 	 	 	 
	See table on page 2
	 	 	 	 

 

4

 

	2.	 	Organic Loan Growth Performance is weighted 15%

	 	 	 	 	 
	Organic Loan Growth	 	WAL Parent	 
	 
	 	 	 	 
	Loan Growth Achieved
	 	 	13	%
	 
	 	 	 	 
	Loan Growth Target Paid
	 	 	125	%
	See table page 3
	 	 	 	 

	3.	 	ROA Growth Performance is weighted 30%

	 	 	 	 	 
	ROA Growth 1st 6 Months	 	WAL Parent	 
	 
	 	 	 	 
	ROA Growth Achieved 1st 6 months
	 	 	1.25	%
	 
	 	 	 	 
	ROA Growth Target Paid
	 	 	75	%
	See table page 4
	 	 	 	 

	 	 	 	 	 
	ROA Growth 2nd 6 Months	 	WAL Parent	 
	 
	 	 	 	 
	ROA Growth Achieved 2nd 6 months
	 	 	1.50	%
	 
	 	 	 	 
	ROA Growth Target Paid
	 	 	100	%
	See table page 4
	 	 	 	 

	4.	 	Credit Quality Performance is weighted 30%

	 	 	 	 	 
	Credit Quality Performance 15%	 	WAL Parent	 
	 
	 	 	 	 
	Net Charge Offs achieved
	 	Less than 2%
	 
	 	 	 	 
	% of Goal Paid
	 	 	100	%

	 	 	 	 	 
	Credit Quality Performance 15%	 	WAL Parent	 
	 
	 	 	 	 
	NPA percentage achieved
	 	Less than 3%
	 
	 	 	 	 
	% NPA Goal Paid
	 	 	100	%

	5.	 	Quality Control factors are weighted 10%

	 	•	 	Regulatory Examines (5%) (level 2 or better achieved, pass/fail)

	 
	 	•	 	Internal Audits (5%) (passing grade on all internal audits, pass/fail)

	 
	 	 	 	Passed at the 100% level for example purposes

Example Paid under WAL Annual Bonus

Participant has a base salary of $60,000

Target Bonus of 8%

Target Bonus — $4,800.00

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Deposit	 	 	Loan	 	 	ROA	 	 	ROA	 	 	Net Charge Off	 	 	NPA	 	 	Quality	 
	$	4,800	 	 	$	4,800	 	 	$	4,800	 	 	$	4,800	 	 	$	4,800	 	 	$	4,800	 	 	$	4,800	 
	X	15	%	 	X	15	%	 	X	15	%	 	X	15	%	 	X	15	%	 	X	15	%	 	X	10	%
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	$	720	 	 	$	720	 	 	$	720	 	 	$	720	 	 	$	720	 	 	$	720	 	 	$	480	 
	X	100	%	 	X	125	%	 	X	75	%	 	X	 100	%	 	X	 100	%	 	X	100	%	 	X	100	%
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	$	720	 	 	$	900	 	 	$	540	 	 	$	720	 	 	$	720	 	 	$	720	 	 	$	480	 

TOTAL PAYOUT IS $720 + $900 + $540 + $720 + $720 + $720 + $480 = $4,800

 

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