Document:

EX-10.10.1

Exhibit 10.10.1

			
	 	 	 
	ATB Corporate Financial Services	 	300,239 — 8th Avenue SW | Calgary, Alberta | T2P 1B9

October 10, 2007

Midfield Supply ULC.

1600 101 6th Avenue S.W.

Calgary, Alberta

T2P 3P4

Attention: Dan Endersby

Dear Sir:

We refer to our Letter Agreement dated May 17, 2007 (the “Original Letter
Agreement”), between Midfield Supply ULC (the “Borrower”) and Alberta Treasury
Branches (the “Lender”), and confirm our agreement to make the amendments described
below, subject to the following terms and conditions. Capitalized terms used herein
without definition shall have the meeting given to them in the Original Letter
Agreement.

1. AMENDMENTS

Lender confirms that section 8(e) of the Original Letter Agreement is hereby
deleted in its entirety and replaced with the following:

“(e) a Loan Party will not make any Distributions or any payments to persons having
an Equity Interest in Borrower (except a Distribution by a Subsidiary to Borrower),
and will not create or suffer to exist any encumbrance or restriction on the
ability of a Subsidiary to make any Distribution to Borrower, except for
restrictions under applicable law, provided, however, that Borrower may pay Bonuses
to its employees, pay dividends to persons having an Equity Interest in Borrower,
pay principal and interest to persons having an Equity Interest in Borrower who are
holders of Shareholders’ Notes and pay interest to Red Man on Class R Note; but
only if no Default or Event of Default exists at the time of making such payment
and no Default or Event of Default would occur as a consequence of the making of
such payment, and provided further, that in the case of payments of dividends or
payments of principal or interest on Shareholders’ Notes, that the persons
receiving such dividends or holding such Shareholders’ Notes have entered into a
subordination agreement on terms acceptable to Lender; ”

2. CONDITIONS PRECEDENT

This amendment to the Original Credit Agreement is conditional upon receipt of: a
duly executed copy of this agreement.

3. REPRESENTATIONS AND WARRANTIES

Borrower represents and warrants to Lender that:

	 	(a)	 	the execution, delivery and performance by Borrower of this agreement has
been duly
authorized by all necessary actions and does not violate Borrower’s
governing documents or any applicable laws or agreements to which
Borrower is subject or by which Borrower is bound; and

 

 

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	ATB Corporate Financial Services	 	300,239 — 8th Avenue SW | Calgary, Alberta | T2P 1B9

	 	(b)	 	the obligations of Borrower under the Original Letter
Agreement, as amended hereby, and under the Security Documents are legal,
valid and binding obligations of Borrower enforceable in accordance with
their terms, subject to applicable bankruptcy, insolvency and other
similar laws affecting creditors’ rights generally.

	4.	 	MISCELLANEOUS

	 	(a)	 	This amending agreement shall be governed by the laws of the Alberta.
	 
	 	(b)	 	This amending agreement may be executed in any number
of counterparts and by
different parties in separate counterparts, each of which when so
executed shall be
deemed to be an original and all of which taken together constitute
one and the same
instrument.
	 
	 	(c)	 	All terms and provisions of the Original Letter
Agreement, except as amended hereby,
remain in full force and effect.

	5.	 	ACCEPTANCE

This offer is open for acceptance until October 19, 2007, after which date it will
be null and void, unless extended in writing by Lender.

Please confirm your acceptance of this amending agreement by signing the attached
copy of this letter in the space provided below and returning it to the undersigned.

Yours truly,

	 	 	 	 	 
	ALBERTA TREASURY BRANCHES	 	 
	 	 	 	 	 
	By:	 	/s/ Gerald Buhler
 

Gerald Buhler	 	 
	 	 	Authorized Signatory	 	 

We acknowledge and accept the foregoing terms and conditions as of
October, 2007.

	 	 	 	 	 
	MIDFIELD SUPPLY ULC	 	 
	 	 	 	 	 
	Per:
	 	/s/ Dan EndersbyEX-10.11

Exhibit 10.11

McJunkin Red Man Corporation

835 Hillcrest Drive

Charleston, WV 25311

September 24, 2008

H.B. Wehrle, III

 

 

Dear Bernie:

     This letter agreement memorializes our mutual understanding that the employment agreement
entered into between you, McJ Holding LLC (currently known as PVF Holdings LLC) and McJunkin
Corporation (currently known as McJunkin Red Man Corporation) on December 4, 2006 (the
“Employment Agreement”) shall be terminated in accordance with this letter agreement.

	1.	 	Payment. In consideration of the termination of the Employment Agreement and of the
covenants set forth below, you shall be paid a lump sum payment equal to $2,281,396.08 (the
“Agreed Amount”). This payment represents the value of all amounts to which you would
have become entitled during the remaining term of the Employment Agreement pursuant to
Sections 2.1. 2.2 and 2.4 thereof, based on your continued service during such remaining term.
The Agreed Amount (subject to all required withholdings) shall be paid to you in a lump sum
on October 1, 2008. It is understood and agreed that the Agreed Amount does not include any
amounts accrued prior to the date hereof and payable pursuant to the terms of any of the
company’s employee benefit plans, any such amounts to be paid in accordance with the terms of
such plans and, if applicable, in compliance with Section 409A of the Internal Revenue Code
and the regulations issued thereunder. Upon payment of the Agreed Amount, the Employment
Agreement shall terminate and be of no further force and effect.

	2.	 	Profits Units. On January 31, 2007, pursuant to the Limited Liability Company
Agreement of McJ Holding LLC dated as of December 4, 2006 (the “LLC Agreement”), you
were granted Profits Units (as defined in the LLC Agreement). Notwithstanding Section 7.2(a)
of the LLC Agreement, in the event of the termination of your service as chairman of the board
of directors of PVF Holdings LLC and as a member of the board of directors of McJunkin Red Man
Holding Corporation at any time for any reason, zero percent (0%) of your Profits Units shall
be subject to forfeiture.

	3.	 	Unauthorized Disclosure; Non-Competition; Non-Solicitation; Interference with Business
Relationships. In consideration of your receipt of the Agreed Amount and other such

 

 

	 	 	consideration provided for herein, you agree to be bound by the covenants set forth in
Appendix A to this letter agreement.

     If the foregoing terms and conditions are consistent with your understanding, please sign this
letter agreement below and return a copy to me.

	 	 	 	 	 
	 	Very truly yours,

PVF HOLDINGS LLC

 	 
	 	/s/ Stephen W. Lake
	 	By:    Stephen W. Lake
	 	Title: Senior Corporate Vice President,

              General Counsel & Corporate Secretary
	 
	 	McJUNKIN RED MAN CORPORATION

 	 
	 	/s/ Stephen W. Lake
	 	By:    Stephen W. Lake
	 	Title: Senior Corporate Vice President,

              General Counsel & Corporate Secretary

	 	 
	ACCEPTED AND AGREED:	 
	 	 
	/s/ H.B. Wehrle, III	 
	H.B. Wehrle, III	 
	 	 

[Signature Page to H.B. Wehrle, III -Letter Agreement]

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Appendix A

	1.	 	Unauthorized Disclosure. You agree and understand that in your positions with PVF
Holdings LLC, McJunkin Red Man Holding Corporation (the “Company”) and McJunkin Red
Man Corporation, you have been and will be exposed to and have and will receive information
relating to the confidential affairs of the Company and its affiliates, including, without
limitation, technical information, intellectual property, business and marketing plans,
strategies, customer information, software, other information concerning the products,
promotions, development, financing, expansion plans, business policies and practices of the
Company and its affiliates and other forms of information considered by the Company and its
affiliates to be confidential or in the nature of trade secrets (including, without
limitation, ideas, research and development, know-how, formulas, technical data, designs,
drawings, specifications, customer and supplier lists, pricing and cost information and
business and marketing plans and proposals) (collectively, the “Confidential
Information”). You agree that at all times during your period of service with the Company
and its affiliates and thereafter, you shall not disclose such Confidential Information,
either directly or indirectly, to any individual, corporation, partnership, limited liability
company, association, trust or other entity or organization, including a government or
political subdivision or an agency or instrumentality thereof (each a “Person”) other
than in connection with the provision of your services to the Company and its affiliates
without the prior written consent of the Company and shall not use or attempt to use any such
information in any manner other than in connection with the provision of your services to the
Company and its affiliates, unless required by law to disclose such information, in which case
you shall provide the Company with written notice of such requirement as far in advance of
such anticipated disclosure as possible. Nothing in this Section 1 shall prohibit you from
disclosing or using Confidential Information which has become publicly available other than by
your disclosure in violation of this Section 1. This confidentiality covenant has no
temporal, geographical or territorial restriction. Upon the termination of your service to
the Company and its affiliates, you shall promptly supply to the Company all property, keys,
notes, memoranda, writings, lists, files, reports, customer lists, correspondence, tapes,
disks, cards, surveys, maps, logs, machines, technical data and any other tangible product or
document which has been produced by, received by or otherwise submitted to you during the
course of your service to the Company and its affiliates, and any copies thereof in your (or
capable of being reduced to your) possession; provided, however, that you may retain
your full rolodex or similar address and telephone directories.

	2.	 	Non-Competition. By and in consideration of PVF Holdings LLC and McJunkin Red man
Corporation entering into this letter agreement and the payments to be made and the benefits
to be provided hereunder, you agree that you shall not, from the date hereof until the later
of (i) January 31, 2012 or (ii) twenty-four (24) months following the later of the date that
you cease to serve as chairman of the board of directors of PVF Holdings LLC or the date that
you cease to serve as a member of the board of directors of the Company (the “Restriction
Period”), directly or indirectly, own, manage, operate, join, control, be employed by, or
participate in the ownership, management, operation or control of, or be connected in any
manner with, including, without limitation, holding any position as a

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	 	 	stockholder, director, officer, consultant, independent contractor, employee, partner, or
investor in, any Restricted Enterprise (as defined below); provided, that in no
event shall ownership of one percent (1%) or less of the outstanding securities of any class
of any issuer whose securities are registered under the Securities Exchange Act of 1934, as
amended, standing alone, be prohibited by this Section 2, so long as you do not have, or
exercise, any rights to manage or operate the business of such issuer other than rights as a
stockholder thereof. For purposes of this paragraph, “Restricted Enterprise” shall
mean any Person that is actively engaged in any geographic area in any business which is
either (i) in competition with the business of the Company or any of its affiliates or (ii)
proposed to be conducted by the Company or any of its affiliates in the company’s business
plan as in effect at that time. During the Restriction Period, upon request of the Company,
you shall notify the Company of your then-current employment status.

	3.	 	Non-Solicitation of Employees. During the Restriction Period, you shall not directly
or indirectly contact, induce or solicit (or assist any Person to contact, induce or solicit)
for employment any person who is, or within twelve (12) months prior to the date of such
solicitation was, an employee of the Company or any of its affiliates.

	4.	 	Interference with Business Relationships. During the Restriction Period (other than
in connection with carrying out your responsibilities for the Company and its affiliates), you
shall not directly or indirectly contact, induce or solicit (or assist any Person to contact,
induce or solicit) any customer or client of the Company or its affiliates to terminate its
relationship or otherwise cease doing business in whole or in part with the Company or its
affiliates, or directly or indirectly interfere with (or assist any Person to interfere with)
any material relationship between the Company or its affiliates and any of its or their
customers or clients so as to cause harm to the Company or its affiliates.

	5.	 	Extension of Restriction Period. The Restriction Period shall be tolled for any
period during which you are in breach of any of Sections 2, 3 or 4 hereof.

	6.	 	Confidentiality of Agreement. Other than with respect to information required to be
disclosed by applicable law, the parties hereto agree not to disclose the terms of this letter
agreement to any Person; provided you may disclose this letter agreement and/or any of
its terms to your immediate family, financial advisors and attorneys, so long as you instruct
every such Person to whom you make such disclosure not to disclose the terms of this letter
agreement further.

	7.	 	Remedies. You agree that any breach of the terms of this Appendix A would result in
irreparable injury and damage to the Company for which the Company would have no adequate
remedy at law; you therefore also agree that in the event of said breach or any threat of
breach, the Company shall be entitled to an immediate injunction and restraining order to
prevent such breach and/or threatened breach and/or continued breach by you and/or any and all
Persons acting for and/or with you, without having to prove damages, in addition to any other
remedies to which the Company may be entitled at law or in equity. The terms of this
paragraph shall not prevent the Company from pursuing any other available remedies for any
breach or threatened breach hereof, including, without limitation, the recovery of damages
from you. You and the Company further agree that

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	 	 	the provisions of the covenants contained in this Appendix A are reasonable and necessary to
protect the businesses of the Company and its affiliates because of the your access to Confidential Information and your material participation in the operation of such
businesses.

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