Document:

EX-10.13

 Exhibit 10.13 

MARK D. TIMMERMAN 

EMPLOYMENT AGREEMENT 

THIS AGREEMENT is executed effective as of the 1st day of July, 2013, by and between ANCHORBANK FSB, a
federally-chartered depository financial institution having its principal office in Madison, Wisconsin (hereinafter referred to as “AnchorBank”, “Bank” or “Employer”), and MARK D. TIMMERMAN (hereinafter
referred to as the “Employee”). 
 W I T N E S E T H: 

WHEREAS, AnchorBank is in the banking business, providing a variety of financial services, to its customers, including but not limited
to, residential, commercial and consumer loans and investments services throughout the State of Wisconsin. 
 WHEREAS, AnchorBank
wishes to assure itself of the services of the Employee for a twelve (12) month period beginning July 1, 2013 in the capacity of Executive Vice President – General Counsel/Corporate Secretary and Employee wishes to serve in the employ
of the Bank in such a capacity; 
 And 

WHEREAS, the parties agree upon the terms and conditions hereinafter set forth. 

NOW, THEREFORE, in consideration of the premises and the mutual agreements hereinafter set forth, the parties hereto, intending to be
legally bound, hereby agree as follows: 
 1. Position. The Employee shall serve Bank as its Executive Vice President –
General Counsel/Corporate Secretary and shall serve Anchor BanCorp Wisconsin, Inc. (the “Company”) in the same capacity (the Bank and Company may be referred to collectively herein as the “Employer”). The Employee hereby
represents that he is not bound by any confidentiality agreements or restrictive covenants which restrict or may restrict his ability to perform his duties hereunder, and agrees that he will not enter into any such agreements or covenants during the
term of his employment hereunder, except such restrictive covenants or confidentiality agreements as are required by the Bank and/or Company. The Employee shall report to the Chief Executive Officer (CEO), Chris Bauer. The effective date for
purposes of this Agreement is July 1, 2013. 
 2. Duties. Employee shall devote his full business and professional
time and attention to the performance of his duties and responsibilities hereunder. Employee shall, in his capacity as Chief Legal Counsel for the Bank and Company, perform such duties as are assigned to him by the CEO and the respective Boards,
advising the Boards and management with respect to legal, regulatory, and corporate governance matters and related duties and obligations. Employee’s duties shall include serving as corporate secretary and chief compliance officer for the Bank,
Company and subsidiaries, with responsibility for securities law, bank regulatory matters, employment law, internal audit, required corporate filings, and real estate. Employee shall also be responsible to oversee and manage engagement and
utilization of outside counsel, overall litigation strategy, vendors, regulatory matters, trade association affiliations, and to provide community liaison for the Madison/Dane County market. Employee will report to and meet with the CEO and with the
Board of Directors as requested. 

  
 1 

 3. Location of Performance of Duties. It is anticipated that Employee will
perform his job duties at the corporate offices located in Madison, Wisconsin, except to the extent his duties may from time to time require his presence at branch offices or other locations. 

4. Conduct. The Employee shall at all times during his employment: 

4.1 Observe and conform to all federal, state and local laws; 

4.2 Comply with all Bank employment policies applicable to employees, including the Bank’s then-current Employee Handbook (the
“Employee Handbook”); 
 4.3 Accept and carry out all reasonable directions and orders of the CEO, his designee and/or the
Board of Directors; 
 4.4 Otherwise act in a professional manner, setting the example of excellence to the workforce, government officials
and agencies, and community. 
 5. Reports. The Employee shall prepare any reports as requested by the CEO and/or his designee
and/or the Board of Directors on a timely basis. 
 6. Term of Employment and Compensation. 

6.1 Term of Employment. The Bank shall employ Employee for a period of one (1) year, commencing on July 1, 2013 and ending on
June 30, 2014, except as otherwise provided. 
 6.2 Salary. The Employee’s salary shall be $240,000.00 per annum, payable
by the Bank at the rate of $20,000.00 per month in accordance with the Bank’s normal payroll procedures; provided, however, that such amount may be prorated between the Bank and Company in such proportion as may be determined by their Boards of
Directors to appropriately reflect the allocation of Employee’s time between them. 
 6.3 EESA/ARRA. The Agreement is intended
to comply with rules and regulations pertaining to executive compensation under the Emergency Economic Stabilization Act of 2008 (EESA), as amended by the American Recovery and Reinvestment Act of 2009 (the ARRA) and any amendments thereto and
regulations which may have impact on the Agreement, including those regulations which became effective upon issuance by the U.S. Department of Treasury as 31 C.F.R. Part 30 on or about June 15, 2009 (the “Regulations”). Effective
during the period in which any obligation of the Company arising from financial assistance provided under the United States Treasury’s Troubled Assets Relief Program (TARP) remains outstanding (but not including any period during which the
Federal Government only holds warrants to purchase common stock of the Company), such that the Company is subject to Section 111 of EESA (the “TARP Participation Period”), Employers shall not, and shall not be obligated to, pay or
accrue any bonus, retention award or incentive compensation or make any payment for Employee’s departure from the Employers for any reason (except for payments for services performed or benefits accrued) to or for Employee to the extent
prohibited by Section 111 of EESA or the Regulations. If in the opinion of tax or regulatory counsel selected by Employer 

  
 2 

 
and acceptable to Employee, it is necessary to limit or reduce Employee’s compensation pursuant to this Section 6.3, the Bank shall take all reasonable steps to restructure this
Agreement and Employee’s compensation and benefits in a manner intended to compensate the Employee according to the original provisions and intent of this Agreement. This restructuring may, to the extent permissible under EESA and/or the
Regulations, include (a) delaying payments during the TARP Participation Period to a time when the Bank is no longer subject to Section 111 of EESA, or (b) implementing payments or programs not originally contemplated by the parties.
If in the opinion of such counsel there are payments or amounts not capable of restructuring, such amounts or payments shall be deemed waived by Employee and Employee agrees to accept such waiver; provided, however, that if Employee believes such
opinion to be incorrect, (A) the Bank shall pay to the Employee the maximum amount of payments and benefits which such opinion indicates there is a high probability do not result in any such payment and benefits being in violation of EESA
and/or the Regulations, and (B) the Bank may request, and Employee shall have the right to demand, that Employers request a ruling from the IRS or other applicable regulatory authority as to whether the disputed payments have such consequences.
Any such request for a ruling shall be promptly prepared and filed by the Bank, but in no event later than thirty (30) days from the date of the Employee’s request as referred to above, and shall be subject to Employee’s approval
prior to filing, which shall not be unreasonably withheld. The Bank and Employee agree to be bound by any ruling received and to make appropriate payments to each other to reflect the impact of EESA and the Regulations on payments made or to be made
as reflected by such rulings, together with interest at the applicable federal rate provided for in Section 7872(f)(2) of the Code. 

In the event the Bank ceases to be subject to ARRA and/or Section 111 of EESA and the Regulations for any reason, any limitations on
amounts or payments to Employee imposed by this Section 6.3 shall cease to be effective. The parties to this Agreement recognize that further regulations under AARA and EESA, in addition to the Regulations, may affect the amounts that may be
paid under this Agreement and agree that, upon issuance of any such further regulations this Agreement may be modified as is in good faith deemed necessary in light of the provisions of such regulations to achieve the intent and purposes of this
Agreement, and that consent to such modifications shall be unreasonably withheld. 
 7. Expense Reimbursement. During the term
of this Agreement, the Bank shall reimburse the Employee for all reasonable and necessary out-of-pocket expenses incurred, such as, mileage for commuting at the IRS approved rate, lodging, meals and other job and travel-related expenses or other
expense as determined by the Bank with the Bank’s prior written approval, by the Employee in connection with the performance of his duties hereunder, upon the presentation of proper accounts therefore in accordance with the Bank’s
policies. Such reimbursement will be due within ten (10) days after the Bank’s receipt of Employee’s request for reimbursement. 

8. Benefits. During the term of this Agreement, the Employee shall be entitled to the employee benefits as provided in the
Employee Handbook, dated October 1, 2009 and as updated by Employers from time to time. Employee, if she satisfies the conditions for eligibility, will be eligible to receive such other benefits that are available to employees with the similar
job title and job classification as Employee, including stock options and restricted stock as is authorized and approved by the Board of Directors. 

  
 3 

 9. Termination of Employment. Employee’s employment may be terminated by the
Bank or Employee before the end of the term of the Agreement, as follows: 
  

	 	(a)	By Bank. Employee can be terminated by the Bank’s Board of Directors or CEO at any time by written notice during the term of this Agreement for “Cause” or for any other reason. For purposes of a
termination for Cause, Cause shall mean any termination because of Employee’s personal dishonesty, incompetence, willful misconduct, breach of fiduciary duty involving personal profit, intentional failure to perform stated duties, willful
violation of any law, rule, or regulation (other than traffic violations or similar offenses) or final cease and desist order, or material breach of any provision of this contract. Should Employee be terminated for Cause under this provision,
Employee will not be eligible to receive any further compensation or benefits for any period after such termination. 

  

	 	(b)	By Employee Resignation. If Employee voluntarily resigns from the Bank, Employee agrees to give at least thirty (30) days written notice to the Bank. Employee agrees to continue to provide services
consistent with the terms of this Agreement throughout the thirty (30) day notice period and also to work with the Bank, CEO, and any person designated by the CEO as a replacement for Employee to (i) wind up those matters with which
Employee is involved which are capable of resolution within the notice period, and (ii) assist in the training of a replacement and in the transitioning of those matters not capable of being wound up within the notice period. In consideration
of continuing to provide such services, together with providing assistance in winding up and transitioning of matters and contingent upon Employee providing the same for thirty (30) days or for any longer period as agreed upon, the Bank agrees
to pay Employee an amount equal to his salary for the period for which such services were provided. 

  

	 	(c)	Suspension or Termination Required by the OCC or FDIC. 

 (A) If Employee is suspended
and/or temporarily prohibited from participating in the conduct of the Employers’ affairs by a notice served under Section 8(e)(3), or Section 8(g)(1), of the Federal Deposit Insurance Act [12 U.S.C. § 1818(e)(3) and (g)(l)], the
Bank’s obligations under the Agreement shall be suspended as of the date of service of the notice unless stayed by appropriate proceedings. If the charges in the notice are dismissed, the Bank shall (i) pay Employee all of the compensation
withheld while their obligations under this Agreement were suspended, and (ii) reinstate such obligations as were suspended. 
 (B) If
Employee is removed and/or permanently prohibited from participating in the conduct of the Employers’ affairs by an order issued under Section 8(e)(4) or Section 8(g)(1) of the Federal Deposit Insurance Act [12 U.S.C. §
1818(e)(4) or (g)(1)], all obligations of the Bank under the Agreement shall terminate as of the effective date of the order, but vested rights of the contracting parties shall not be affected. 

  
 4 

 (C) If the Bank is in default as defined in Section 3(x)(1) of the Federal Deposit
Insurance Act [12 U.S.C. 1813 (x)(1)], all obligations under the Agreement shall terminate as of the date of default, but this paragraph shall not affect any vested rights of the Employee. 

(D) All obligations under the Agreement shall be terminated, except to the extent determined that continuation of the contract is necessary
for the Employers’ continued operations (i) by the Comptroller of the Currency (the “Comptroller”), or the Comptroller’s designee at the time the FDIC enters into an agreement to provide assistance to or on behalf of the
Employers under the authority contained in Section 13(c) of the Federal Deposit Insurance Act or (ii) by the Comptroller or the Comptroller’s designee, at the time it approves a supervisory merger to resolve problems related to
operation of the Employers or when the Employers are determined by the Comptroller to be in an unsafe or unsound condition. Any rights of the parties that have already vested, however, shall not be affected by such action. 

(E) In the event that 12 C.F.R. § 163.39, or any successor regulation, is repealed, this Section 9(c) shall cease to be effective on
the effective date of such repeal. In the event that 12 C.F.R. § 563.39, or any successor regulation, is amended or modified, this Agreement shall be revised to reflect the amended or modified provisions if: (1) the amended or modified
provision is required to be included in this Agreement; or (2) if not so required, the Employee requests that the Agreement be so revised. 

10. Confidential Information. 

10.1 Non-Disclosure. Employee acknowledges that AnchorBank is engaged in a highly competitive industry which draws customers primarily
from the local communities both in and surrounding the locations of its corporate and branch offices throughout the State of Wisconsin. AnchorBank has a proprietary interest in its information, including without limitation, data and plans pertaining
to marketing/strategic/business planning, pricing information, training, and personnel information, all of which are highly confidential and/or constitute trade secrets. Employee further acknowledges that AnchorBank obtains and compiles, at
significant expense, highly sensitive customer information, including, but not limited to, customer names, addresses, telephone numbers, social security numbers, account numbers, and asset and/or investment information, such as name, nature and
amount of assets, date of transactions and other such information and that AnchorBank has developed and implemented comprehensive security measures to protect such information from unauthorized disclosure, which are required under federal,
specifically, the Gramm Leach Bliley Statute, and implementing regulations, known as Regulation P – Privacy of Consumer Financial Information. 

  
 5 

 10.2 Employee acknowledges that such confidential and proprietary information is contained at
AnchorBank’s offices, in AnchorBank’s computer network systems, and other electronic communication devices which Employee may be given access. 

10.3 Employee acknowledges that such confidential and proprietary information is owned and shall continue to be owned by AnchorBank. Except as
provided in this Section 10, Employee agrees: 
 10.3.1 During the term of his employment and for a period of one
(1) year after such employment terminates, not to use such information for any purpose whatsoever or to divulge such information to any person other than AnchorBank or persons to whom AnchorBank has given its consent unless such information has
already become common knowledge or unless Employee is compelled to disclose it by governmental process; 
 10.3.2 To the
extent that such information constitutes information protected by the Uniform Trade Secrets Act, Section 134.90, Wis. Stats., Employee agrees not to use or divulge such information, during the term of his employment and thereafter indefinitely,
until such information is no longer protected by the foregoing statute or unless AnchorBank has given its consent; 
 10.3.3
To the extent that such information constitutes information protected by the Gramm Leach Bliley Statute, Employee agrees not to use or divulge customer personal information, such as, social security numbers, account numbers, and asset and/or
investment information, such as name, nature and amount of assets, date of transactions and other such information, during the term of his employment and thereafter indefinitely. 

10.4 Upon termination, all documents and information listed in paragraph 10.1 shall be returned to AnchorBank, unless otherwise authorized by
AnchorBank. To the extent the property belongs to any other affiliate of AnchorBank, AnchorBank will forward the information to the affiliate. 

10.5 Employee agrees not to make any copies of any trade secret or confidential information for use outside of AnchorBank’s office except
as specifically authorized in writing by AnchorBank. 
 10.6 Notice of Disclosure. In the event that the Employee is required, by
oral questions, interrogatories, requests for information or documents, subpoena, civil investigative demand or similar process, to disclose any confidential material relating to the AnchorBank, the Employee shall provide the AnchorBank with prompt
notice thereof so that the Bank may seek an appropriate protective order and/or waive compliance by the Employee with the provisions hereof; provided, however, that if in the absence of a protective order or the receipt of such a waiver, the
Employee is, in the opinion of counsel for the AnchorBank or the Employee, compelled to disclose confidential material not otherwise disclosable hereunder to any legislative, judicial or regulatory body, agency or authority, or else be exposed to
liability for contempt, fine or penalty or to other censure, such confidential material may be so disclosed. 

  
 6 

 10.7 Availability of Documents to Employee. In the event Employee becomes the subject of
any form of regulatory action or complaint relating to his period of employment by the Employers, Employee may request access to such documents and other Bank, Company or subsidiary information as is deemed reasonably necessary by the Employee (or
his counsel or representative) to Employee’s defense of such action or complaint. Employers shall determine, in their sole discretion, what documentation or information to make available; provided, however, that (i) no information or
materials constituting “unpublished OTS information” under 12 C.F.R. Section 510.5 shall be provided under any circumstances except in compliance with the provisions thereof, and (ii) Employee and his counsel or representative
must first agree to steps acceptable to the Employers (or to any successor to one or both of the Employers) to safeguard against unauthorized disclosure of the accessed information. Employee’s right of access pursuant to this Section 10.7
shall survive any termination of employment regardless of cause. 
 11. Discoveries and Inventions. Employee agrees
that all inventions, designs, improvements, writings, research, analysis, and discoveries made during the term of this Agreement and pertaining to the business conducted by AnchorBank shall be the exclusive property of AnchorBank, as determined
solely by AnchorBank. Employee shall assist AnchorBank in obtaining patents, trademarks, service marks and/or copyrights on all such inventions, designs, improvements, writings and discoveries deemed suitable for patent, trademark, service mark, or
copyright by AnchorBank, and shall execute all documents and do all things necessary to obtain letters, patents, or copyrights, vest AnchorBank with full and exclusive title thereto, and protect the same against infringements by others. 

12. Goodwill. At no time, may Employee take any action or make any statement the effect of which is intended to disparage the
goodwill of the Employers or the business reputation or good name of the Employers, its officers, directors or employees, or be otherwise detrimental to the Employers. 

13. Equitable Relief/Court Jurisdiction. In the event of a breach or threatened breach of this Agreement, the non-breaching
party shall be entitled to pre-judgment injunctive relief or similar equitable relief (and the breaching party shall reimburse the Bank for the costs and reasonable attorneys’ fees of procuring such an injunction or relief) restraining the
breaching party from committing or continuing any such breach or threatened breach or granting specific performance of any act required to be performed, without the necessity of showing any actual damage or that money damages would not afford an
adequate remedy and without the necessity of posting any bond or other security. The parties also hereby consent to the jurisdiction of the Federal courts located in the Western District of Wisconsin and the state courts located in Dane County for
any proceedings under this Agreement. Nothing herein shall be construed as prohibiting either party from pursuing any other remedies at law or in equity which it may have. 

14. Successors and Assigns. The Employee may not assign this Agreement or any part thereof. 

15. Governing Law. This Agreement shall be deemed a contract made under, and for all purposes shall be construed in accordance
with, the laws of the State of Wisconsin applicable to contracts to be performed entirely within such State. 

  
 7 

 16. Entire Agreement. This Agreement contains all the understandings and
representations between the parties hereto pertaining to the subject matter hereof and as of its effective date supersedes and replaces all undertakings and agreements, whether oral or in writing, if there be any, previously entered into by them
with respect thereto. 
 17. Amendment. No modification, amendment or addition to this Agreement will be valid or enforceable
unless it is in writing and signed by both parties. 
 18. Waiver. Failure to insist upon the full performance of an
obligation or failure to exercise rights under this Agreement shall not constitute a waiver as to future defaults or exercise of rights. 

19. Notices. All notices, demands and other communications which may or are required to be given under this Agreement must be in
writing, must be given either by personal delivery or by registered or certified mail and will be deemed to have been given when personally delivered or when deposited in the mail, postage prepaid, addressed to the residence of Employee or his legal
representative or to the business address of the Bank, as the case may be, or to such other addresses either party may designate by written notice to the other party. 

20. Severability. The invalidity or unenforceability of any particular provision of this Agreement shall not affect the other
provisions hereof and this Agreement shall be construed in all respects as if such invalid or unenforceable provisions were omitted. 
 21.
Survivorship. The respective rights and obligations of the parties hereunder shall survive any termination of this Agreement to the extent necessary to the intended preservation of such rights and obligations. 

22. Counterparts. This Agreement may be executed in counterparts, both of which shall be deemed an original, but all of which
taken together shall constitute one and the same instrument. 
 IN WITNESS WHEREOF, the parties hereto have executed this Agreement
on the date first above written. 
  

			
	ANCHORBANK FSB
		
	By:	 	 /s/ Chris Bauer

		 	Chris Bauer, Chief Executive Officer
	
	EMPLOYEE:
	
	 /s/ Mark D. Timmerman

	Mark D. Timmerman, Executive Vice President-General Counsel/Corporate Secretary

  
 8EX-4.1

 Exhibit 4.1 

SECOND AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT 

THIS SECOND AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT (this “Amendment”) is dated as of December 17, 2013, among TREX
COMPANY, INC., a Delaware corporation (the “Borrower”); the lenders party hereto (each, a “Lender” and, collectively, the “Lenders”); and BRANCH BANKING AND TRUST COMPANY, as Administrative Agent (in such capacity, the
“Administrative Agent”). 
 The Borrower, the Lenders and the Administrative Agent are parties to an Amended and Restated Credit
Agreement dated as of January 6, 2012, as amended by a First Amendment to Amended and Restated Credit Agreement dated as of February 26, 2013 (as so amended, the “Credit Agreement”), and they now desire to amend certain
provisions of the Credit Agreement as provided herein. 
 The Borrower has requested that the Lenders temporarily increase the aggregate
Revolver Commitments (as defined in the Credit Agreement) from $100,000,000 to $125,000,000 for the period from January 1, 2014 through and including June 30, 2014, and the Lenders have agreed to such temporary increase on the terms and
subject to the conditions set forth in this Amendment. 
 Accordingly, for and in consideration of the premises and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the Borrower, the Lenders and the Administrative Agent hereby agree as follows: 

1. Capitalized Terms; Effective Date. Capitalized terms used in this Amendment which are not otherwise defined herein shall have the
meanings assigned thereto in the Credit Agreement, as amended by this Amendment. Except as expressly provided to the contrary herein, all amendments to the Credit Agreement set forth herein shall be effective as of the date of this Amendment. 

2. Credit Agreement Amendments. The following provisions of the Credit Agreement are amended as follows: 

2.1. Revolver Commitment. The definition of “Revolver Commitment” set forth in Section 1.01 of the Credit Agreement is
amended and restated in its entirety to read as follows: 
 “Revolver Commitment” means, with respect to each
Lender, (i) the applicable amount set forth opposite the name of such Lender on the signature pages to the Second Amendment, or (ii) as to any Lender which enters into an Assignment and Assumption (whether as transferor Lender or as
assignee thereunder), the amount of such Lender’s Revolver Commitment after giving effect to such Assignment and Assumption, in each case as such amount may be reduced from time to time pursuant to Sections 2.08 and 2.09, and as such
amount may be increased pursuant to Section 2.14. 

 2.2. New Definitions. A new definitions of “Second Amendment” is added to
Section 1.01 of the Credit Agreement to read as follows: 
 “Second Amendment” means the Second Amendment to
Amended and Restated Credit Agreement dated as of December 17, 2013, among the Borrower, the Lenders and the Administrative Agent, which amends certain provisions of this Agreement. 

2.3. Financial Covenants. Section 5.05(d) of the Credit Agreement is amended to read as follows: 

(d) Excess Availability Percentage. The Borrower will not permit the Excess Availability Percentage to be less than 10%
at any time through and including June 30, 2014. 
 2.4. Revolver Commitments. Each Lender’s Revolver Commitment shall be
as set forth on its signature page hereto. 
 3. Representations. The Borrower hereby represents and warrants to the Administrative
Agent and the Lenders that: 
 3.1. The Borrower is in compliance with all of the terms, covenants and conditions of the Credit Agreement,
as amended by this Amendment, and all of the terms, covenants and conditions of each of the other Loan Documents. 
 3.2. There exists no
Default or Event of Default. 
 3.3. The representations and warranties contained in Article IV of the Credit Agreement are, except to
the extent that they relate solely to an earlier date, true with the same effect as though such representations and warranties had been made on the date hereof. 

3.4. The Borrower has full corporate or other organizational power and authority to execute, deliver and perform its obligations under this
Amendment and to incur the obligations provided for herein, all of which have been duly authorized by all proper and necessary corporate action. No consent or approval of the stockholders of the Borrower which has not been obtained and no consent or
approval of, notice to or filing with, any public authority which has not been obtained or made is required as a condition to the validity of this Amendment. 

3.5. This Amendment constitutes the valid and legally binding obligations of the Borrower, enforceable in accordance with its terms, except as
the enforceability hereof may be limited by bankruptcy, insolvency, or similar laws affecting creditors’ rights generally or by general principles of equity (regardless of whether such enforceability is considered in a proceeding at law or in
equity). 
 3.6. There are no actions, suits, proceedings or investigations pending or, so far as the officers of the Borrower know,
threatened before any court or administrative agency that, in the opinion of the officers of the Borrower, will materially adversely affect (i) the financial 

  
 - 2 - 

 
condition or operations of the Borrower, or (ii) the ability of the Borrower to execute or deliver this Amendment, or to carry out the terms of the Credit Agreement, as amended by this
Amendment. 
 3.7. There is no charter, by-law, or other organizational document provision of the Borrower and no provision of any existing
mortgage, lease, indenture, contract, or agreement binding on the Borrower or affecting its property that would conflict with or in any way prevent the execution or delivery of this Amendment, or the carrying out of the terms of the Credit
Agreement, as amended by this Amendment. 
 4. No Other Amendments; Reaffirmation; Waiver and Release; No Novation. Except as
expressly amended hereby, the terms of the Credit Agreement shall remain in full force and effect in all respects, and the Borrower hereby reaffirms its obligations under the Credit Agreement, as amended by this Amendment, and under each of the
other Loan Documents. The Borrower, for itself and for its successors and assigns, hereby waives and releases the Administrative Agent, the Lenders and their respective successors and assigns, from any claim, cause of action, defense, counterclaim,
set-off or recoupment of any kind or nature known to the Borrower that it may now or hereafter assert against the Administrative Agent or any Lender arising from or in connection with the Credit Agreement, as amended by this Amendment, or the
transactions contemplated hereby that exist on the date hereof or arise from facts or actions occurring prior hereto or on the date hereof. For purposes of the preceding sentence, the terms “Agent” and “Lender” shall include the
Administrative Agent’s and each Lender’s former, present and future officers, directors, employees, agents and attorneys. Nothing contained in this Amendment shall be construed to constitute a novation with respect to the indebtedness
described in the Credit Agreement. 
 5. Conditions. The effectiveness of this Amendment is subject to the following conditions
precedent: 
 5.1. Amendment. The Borrower and the Lenders shall have executed and delivered to the Administrative Agent a
counterpart of this Amendment. 
 5.2. Extension Fees; Other Expenses. The Borrower shall have paid (or shall have made arrangements
satisfactory to the Administrative Agent for the payment) the extension fees described in the fee letter dated of even date herewith between the Administrative Agent and the Borrower (the “Second Amendment Fee Letter”). The Borrower also
shall have paid (or shall have made arrangements satisfactory to the Administrative Agent for the payment) all the other expenses of the Administrative Agent and the Lenders as described in Section 8 below. 

6. Security for Obligations. The Borrower acknowledges and agrees that all indebtedness and other obligations of the Borrower under the
Credit Agreement, as amended by this Amendment, and the other Loan Documents, including without limitation the indebtedness evidenced by the Revolver Notes, are secured by the Collateral described in the Collateral Documents. 

7. References. All references in the Credit Agreement to “this Agreement,” “herein,” “hereunder” or other
words of similar import, and all references to the “Credit 

  
 - 3 - 

 
Agreement” or similar words in the other Loan Documents, or any other document or instrument that refers to the Credit Agreement, shall be deemed to be references to the Credit Agreement as
amended by this Amendment. 
 8. Expenses. The Borrower agrees to pay all reasonable out-of-pocket expenses incurred by the
Administrative Agent and the Lenders in connection with the preparation of this Amendment and the consummation of the transactions described herein, including, without limitation, the reasonable attorneys’ fees and expenses of the
Administrative Agent and the Lenders, and expenses related to obtaining real estate appraisals, inventory appraisals and a field exam. 
 9.
Applicable Law. This Amendment shall be construed in accordance with and governed by the laws of the Commonwealth of Virginia. 
 10.
Counterparts. This Amendment may be executed in any number of counterparts, each of which shall be an original, but all of which taken together shall constitute one and the same instrument. 

11. Successors. This Amendment shall be binding upon and inure to the benefit of the parties hereto and their respective successors and
assigns. 
 12. Entire Agreement. This Amendment represents the final agreement of the Borrower, the Lenders and the Administrative
Agent with respect to the subject matter hereof, and may not be contradicted, modified or supplemented in any way by evidence of any prior or contemporaneous written or oral agreements of the Borrower, the Lenders and/or the Administrative Agent.

 [Signatures begin on following page] 

  
 - 4 - 

 IN WITNESS WHEREOF, the Borrower, the Lenders and the Administrative Agent have caused this
Amendment to be executed by their duly authorized officers, under seal, all as of the date first written above. 
  

					
	TREX COMPANY, INC.,	 	(SEAL)
	a Delaware corporation	 	
			
	By:	 	 /s/ James E. Cline
	 	(SEAL)
	Name:	 	James E. Cline	 	
	Title:	 	Senior Vice President and Chief Financial Officer	 	

 [Signatures continue on following page] 

  
 - 5 - 

 
					
	BRANCH BANKING AND TRUST COMPANY,
	as Administrative Agent
	and as a Lender	 	(SEAL)
			
	By:	 	 /s/ Matthew W. Rush
	 	(SEAL)
	Name:	 	Matthew W. Rush	 	
	Title:	 	Senior Vice President	 	

  

			
	Revolver Commitment:	  	$67,500,000 from January 1, 2014 through and including June 30, 2014, and $55,000,000 from July 1, 2014 and thereafter.

 [Signatures continue on following page] 

  
 - 6 - 

 
					
	WELLS FARGO CAPITAL FINANCE, LLC,
	as a Lender	 	(SEAL)
			
	By:	 	 /s/ Ryan Davison
	 	(SEAL)
	Name:	 	Ryan Davison	 	
	Title:	 	Vice President	 	

  

			
	Revolver Commitment:	  	$57,500,000 from January 1, 2014 through and including June 30, 2014, and $45,000,000 from July 1, 2014 and thereafter.

  
 - 7 -

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00224-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00224-of-00352.parquet"}]]