Document:

exv10w19

Exhibit 10.19

SECOND AMENDMENT TO THE

AMENDED AND RESTATED STOCKHOLDERS AGREEMENT

OF

C&J ENERGY SERVICES, INC.

A Delaware Corporation

     THIS SECOND AMENDMENT (the “Amendment”) to the Amended and Restated Stockholders
Agreement (the “A&R Stockholders Agreement”) of C&J Energy Services, Inc. (the
“Company”) is made and entered into as of this 14th day of July 2011 by and among the
Company and the Sponsor Demand Holders. Capitalized terms used herein but not defined herein shall
have the meanings ascribed to them in the A&R Stockholders Agreement.

W I T N E S S E T H:

     WHEREAS, certain stockholders of the Company who were originally party to the Shareholders
Agreement, dated October 16, 2006, should have been included on Exhibit B to the A&R Stockholders
Agreement and were erroneously omitted therefrom;

     WHEREAS, pursuant to Section 4.9 of the A&R Stockholders Agreement, the Company and the
Sponsor Demand Holders desire to amend the A&R Stockholders Agreement as set forth in this
Agreement to add those stockholders who were erroneously omitted from Exhibit B to Exhibit B;

     NOW, THEREFORE, in consideration of the foregoing premises and the mutual covenants and
agreements as set forth herein and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:

     Section 1. Amendment to Exhibit B. Exhibit B shall be amended and replaced in its
entirety by Exhibit B hereto.

     Section 2. This Amendment may be executed in several counterparts, each of which shall
be an original of this Amendment but all of which, taken together, shall constitute one and the
same Amendment.

     Section 3. Except as expressly amended herein, all terms and provisions of the A&R
Stockholders Agreement shall remain in full force and effect.

[Signature Pages Follow]

 

 

     IN WITNESS WHEREOF, the undersigned has executed this Agreement on behalf of the Company as of
the date first set forth above.

	 	 	 	 	 
	 	COMPANY:

C&J Energy Services, Inc.

 	 
	 	By:  	/s/
Theodore R. Moore	 
	 	 	Name:  	Theodore R. Moore 	 
	 	 	Title:  	Vice President -- General Counsel 	 
	 

 

 

Second Amendment To The

Amended And Restated Stockholders Agreement

Of C&J Energy Services, Inc.

Signature Page 1 of 3

 

 

     IN WITNESS WHEREOF, the undersigned, being the Sponsor Demand Holders, have executed this
Agreement as of the date first set forth above.

	 	 	 	 	 
	 	SPONSOR DEMAND HOLDERS:

StepStone Capital Partners II Onshore, L.P.

 	 
	 	By:  	StepStone Co-Investment Funds GP, LLC,
 	 
	 	 	its General Partner 	 
	 	 	 	 
	 	By:  	/s/
Darren Friedman	 
	 	 	Name:  Darren Friedman	 	 
	 	 	Title:  Managing Director	 	 
	 
	 	 	 
	 
	 	StepStone Capital Partners II Cayman Holdings, L.P.

 	 
	 	By:  	StepStone Co-Investment Funds GP, LLC,
 	 
	 	 	its General Partner 	 
	 	 	 	 
	 	By:  	/s/
Darren Friedman	 
	 	 	Name:  Darren Friedman	 	 
	 	 	Title:  Managing Director	 	 
	 
	 
	 	 	 
	 	2006 Co-Investment Portfolio, L.P.

 	 
	 	By:  	StepStone Co-Investment Funds GP, LLC,
 	 
	 	 	its General Partner 	 
	 	 	 	 
	 	By:  	/s/
Darren Friedman	 
	 	 	Name:  Darren Friedman	 	 
	 	 	Title:  Managing Director	 	 
	 

 

Second Amendment To The

Amended And Restated Stockholders Agreement

Of C&J Energy Services, Inc.

Signature Page 2 of 3

 

 

	 	 	 	 	 
	 	Citigroup Capital Partners II Employee Master Fund, L.P.

 	 
	 	By:  	Citigroup Private Equity LP,
 	 
	 	 	its General Partner 	 
	 	 	 	 
	 	By:  	/s/
Matthew Coeny	 
	 	 	Name:  Matthew Coeny	 	 
	 	 	Title:  Vice President	 	 
	 
	 	 	 
	 
	 	Energy Spectrum Partners IV LP

 	 
	 	By:  	Energy Spectrum Capital IV LP,
 	 
	 	 	its General Partner 	 
	 	 	 	 
	 	By:  	/s/
James P. Benson	 
	 	 	Name:  James P. Benson	 	 
	 	 	Title:  Managing Partner	 	 
	 

 

 

Second Amendment To The

Amended And Restated Stockholders Agreement

Of C&J Energy Services, Inc.

Signature Page 3 of 3

 

 

EXHIBIT B

to

AMENDED AND RESTATED

STOCKHOLDERS AGREEMENT

(the “Agreement”)

dated as of December 23, 2010

by and among

C&J ENERGY SERVICES, INC.

and

THE OTHER PARTIES THERETO

STOCKHOLDERS

	 	 	 	 	 
	Name	 	Address	 
	StepStone Capital Partners II Onshore, L.P.
	 	Intentionally Omitted
	StepStone Capital Partners II Cayman Holdings, L.P.
	 	 	 	 
	2006 Co-Investment Portfolio, L.P.
	 	 	 	 
	Citigroup Capital Partners II Employee Master Fund, L.P.
	 	 	 	 
	Energy Spectrum Partners IV LP
	 	 	 	 
	Christopher B. Simmons Sr.
	 	 	 	 
	John D. Foret
	 	 	 	 
	Brandon D. Simmons
	 	 	 	 
	Randall C. McMullen, Jr.
	 	 	 	 
	Aaron Larson
	 	 	 	 
	James D. Moore
	 	 	 	 
	Michael J. Thorn
	 	 	 	 
	Phillip Bryson
	 	 	 	 
	Joseph Patrick Winstead
	 	 	 	 
	Josh Comstock
	 	 	 	 
	Joshua E. Comstock Annuity
	 	 	 	 
	Rebecca Anne Comstock Annuity
	 	 	 	 
	Brian Patton
	 	 	 	 
	Floyd Woodall
Mike Forgacs
	 	 	 	 
	Lance Bradley
	 	 	 	 
	Todd Wendland
	 	 	 	 
	Brett Barrier
	 	 	 	 
	Jared Bennett
	 	 	 	 
	Larry Joey Brandon
	 	 	 	 
	William D. Driver
	 	 	 	 
	Brent Riley
	 	 	 	 
	James Sitton
	 	 	 	 

 

 

C&J Energy Services, Inc.

Exhibit B to Stockholders Agreement

B-1

 

 

	 	 	 	 	 
	Name	 	Address	 
	 
	 	 	 	 

 

 

 

 

C&J Energy Services, Inc.

Exhibit B to Stockholders Agreement

B-2exv10w1

Exhibit 10.1

SECOND AMENDMENT TO CREDIT AGREEMENT

     This SECOND AMENDMENT TO CREDIT AGREEMENT (this “Amendment”) is entered into as of
July 15, 2011, by and among JOHN B. SANFILIPPO & SON, INC., a Delaware corporation (the
“Borrower”), the lenders identified on the signature pages hereof (such lenders, together
with their respective successors and permitted assigns, are referred to hereinafter each
individually as a “Lender” and collectively as the “Lenders”), and WELLS FARGO
CAPITAL FINANCE, LLC (f/k/a Wells Fargo Foothill, LLC), a Delaware limited liability company, as
administrative agent (in such capacity “Agent”) and as a Lender. Unless otherwise specified
herein, capitalized terms used in this Amendment shall have the meanings ascribed to them by the
Credit Agreement (defined below).

RECITALS

     WHEREAS, the Borrower, Agent, and the Lenders have entered into that certain Credit Agreement,
dated as of February 7, 2008 (as amended, supplemented, restated or otherwise modified from time to
time, the “Credit Agreement”); and

     WHEREAS, on the terms and subject to the conditions set forth herein, the Borrower, Agent and
Lenders have agreed to amend the Credit Agreement as more fully described below;

     NOW THEREFORE, in consideration of the foregoing, mutual agreements contained herein and for
good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the
Borrowers, Agent and Lenders hereby agree as follows:

     SECTION 1. Amendment.

          (a) Reference to the phrase “the second anniversary of the Closing Date” set forth in
Section 2.15 of the Credit Agreement is hereby deleted and the phrase “the Maturity Date”
is inserted in lieu thereof.

          (b) Reference to the figure “$15,000,000” set forth in Section 2.15 of the Credit
Agreement is hereby deleted and the figure “$22,500,000” is inserted in lieu thereof.

          (c) Clause (b) of the proviso at the end of the first sentence of Section 2.15
of the Credit Agreement is hereby amended and restated to read in its entirety as follows:

          (b) [Intentionally Omitted]

          (d) Clause (e) of the proviso at the end of the first sentence of Section 2.15
of the Credit Agreement is hereby amended and restated to read in its entirety as follows:

          (e) [Intentionally Omitted]

          (e) Reference to the date “February 7, 2013” set forth in Section 3.3 of the Credit
Agreement is hereby deleted and the date “July 15, 2016” is inserted in lieu thereof.

 

 

          (f)
Reference to the clause “, and such assignment shall effect a
novation among Borrower, the assigning Lender, and The Assignee”
Set forth in Section 13.1(b) of the Credit Agreement is hereby
deleted in its entirety.

          (g) Schedule 1.1 to the Credit Agreement is hereby amended by amending and restating
the following defined terms to read in their entirety as follows:

     ‘Base Rate Margin’ means, as of any date of determination, the
following percentages per annum, based upon Average Margin Availability:

	 	 	 	 	 	 	 
	Level	 	Average Margin Availability	 	Base Rate Margin
	I
	 	<$20,000,000

	 	 	1.25	%
	II
	 	 ≥$20,000,000 but < $30,000,000

	 	 	1.00	%
	III
	 	≥$30,000,000

	 	 	0.75	%

     After the Second Amendment Effective Date, the Base Rate Margin shall be
adjusted in accordance with the foregoing on the first day of each calendar month.

     ‘L/C Margin’ means, as of any date of determination, the following
percentages per annum, based upon Average Margin Availability:

	 	 	 	 	 	 	 
	Level	 	Average Margin Availability	 	L/C Margin
	I
	 	<$20,000,000

	 	 	2.25	%
	II
	 	≥$20,000,000 but < $30,000,000

	 	 	2.00	%
	III
	 	≥$30,000,000

	 	 	1.75	%

     After the Second Amendment Effective Date, the L/C Margin shall be adjusted in
accordance with the foregoing on the first day of each calendar month.

     ‘LIBOR Rate Margin’ means, as of any date of determination, the
following percentages per annum, based upon Average Margin Availability:

	 	 	 	 	 	 	 
	Level	 	Average Margin Availability	 	LIBOR Rate Margin
	I
	 	<$20,000,000

	 	 	2.25	%
	II
	 	≥$20,000,000 but < $30,000,000

	 	 	2.00	%
	III
	 	≥$30,000,000

	 	 	1.75	%

-2-

 

     After the Second Amendment Effective Date, the LIBOR Rate Margin shall be
adjusted in accordance with the foregoing on the first day of each calendar month.”

          (h) Clause (e)(iii) of the definition of “Borrowing Base” contained in Schedule
1.1 to the Credit Agreement is hereby amended and restated to read in its entirety as follows:

     “(iii) (A) at any time during the months of January, February, March, April,
October, November and December, $117,500,000 and, (B) at all other times,
$92,500,000 (in each case, the “Inventory Sublimit”), plus”

          (i) The proviso set forth in the parenthetical at the end of clause (b) of the
definition of “Lender Group Expenses” contained in Schedule 1.1 to the Credit Agreement is
hereby amended and restated to read in its entirety as follows:

“provided, however, so long as no Event of Default has occurred
and continuing, Lender Group Expenses shall only include fees and charges in respect
of one appraisal of Borrower’s Equipment and, so long as no Event of Default has
occurred and continuing and Average Excess Availability is greater than $25,000,000
at all times, Lender Group Expenses shall not include fees and charges in respect of
appraisals of Borrower’s Equipment”

          (j) Schedule 1.1 to the Credit Agreement is hereby amended by inserting the following
defined term in alphabetical order:

          “‘Second Amendment Effective Date’ means July 15, 2011.”

          (k) Schedule 4.8(b) to the Credit Agreement is hereby amended and restated as set
forth on Schedule 4.8(b) attached hereto.

          (l) Schedule 4.15 to the Credit Agreement is hereby amended and restated as set forth
on Schedule 4.15 attached hereto.

          (m) Schedule 4.17 to the Credit Agreement is hereby amended and restated as set forth
on Schedule 4.17 attached hereto.

     SECTION 2. Conditions. This Amendment shall become effective when (i) the Agent shall
have received duly executed counterparts of this Amendment from the Borrower and the Lenders and
the Agent shall have executed and delivered its counterpart to this Amendment and Agent shall have
received each of the additional documents, instruments and agreements listed on the Closing
Checklist attached hereto as Exhibit A, each in form and substance reasonably acceptable to
Agent, (ii) the Agent shall have received from Borrower duly executed counterparts to the amended
and restated Fee Letter executed and executed and delivered its signed counterpart to the Borrower,
and (iii) the Agent shall have received in immediately available funds all fees owing under the
amended and restated Fee Letter.

-3-

 

     SECTION 3. Reference to and Effect Upon the Credit Agreement.

          (a) Except as specifically set forth herein, the Credit Agreement and the other Loan Documents
shall remain in full force and effect and are hereby ratified and confirmed; and

          (b) The amendment set forth herein is effective solely for the purpose set forth herein and
shall be limited precisely as written, and shall not be deemed to (i) be a consent to any
amendment, waiver of or modification of any other term or condition of the Credit Agreement or any
other Loan Document, (ii) operate as a waiver of or otherwise prejudice any right, power or remedy
that Agent or Lenders may now have or may have in the future under or in connection with the Credit
Agreement or any other Loan Document or (iii) constitute an amendment or waiver of any provision of
the Credit Agreement or any Loan Document, except as specifically set forth herein. Upon the
effectiveness of this Amendment, each reference in the Credit Agreement to “this Agreement”,
“herein”, “hereof’ and words of like import and each reference in the Credit Agreement and the Loan
Documents to the Credit Agreement shall mean the Credit Agreement as amended hereby. This Amendment
shall be construed in connection with and as part of the Credit Agreement.

     SECTION 4. Representations and Warranties. In order to induce Agent and Lenders to
enter into this Amendment, Borrower hereby represents and warrants to Agent and Lenders, after
giving effect to this Amendment:

          (a) All representations and warranties of Borrower and its Subsidiaries contained in the
Credit Agreement and the other Loan Documents are true and correct in all material respects on and
as of the date of this Amendment, in each case as if made on and as of such date, other than
representations and warranties that expressly relate solely to an earlier date (in which case such
representations and warranties were true and correct on and as of such earlier date);

          (b) No Default or Event of Default has occurred and is continuing; and

          (c) This Amendment and the Credit Agreement, as amended hereby, constitute legal, valid and
binding obligations of Borrower and are enforceable against Borrower in accordance with their
respective terms, except as enforcement may be limited by equitable principles or by bankruptcy,
insolvency, reorganization, moratorium, or similar laws relating to or limiting creditors’ rights
generally.

     SECTION 5. Costs and Expenses. As provided in Section 17.10 of the Credit
Agreement, the Borrower shall pay all costs and expenses incurred by or on behalf of Agent and
Lenders arising from or relating to this Amendment constituting Lender Group Expenses.

     SECTION 6. GOVERNING LAW. THE VALIDITY OF THIS AMENDMENT, THE CONSTRUCTION,
INTERPRETATION, AND ENFORCEMENT HEREOF, AND THE RIGHTS OF THE PARTIES HERETO WITH RESPECT TO ALL

-4-

 

MATTERS ARISING HEREUNDER OR RELATED HERETO SHALL BE DETERMINED UNDER, GOVERNED BY, AND
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF ILLINOIS.

     SECTION 7. Headings. Section headings in this Amendment are included herein for
convenience of reference only and shall not constitute part of this Amendment for any other
purposes.

     SECTION 8. Counterparts. This Amendment may be executed in any number of
counterparts, each of which when so executed shall be deemed an original, but all such counterparts
shall constitute one and the same instrument.

(signature pages follow)

-5-

 

          IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their
respective officers thereunto duly authorized, as of the date first above written.

	 	 	 	 	 
	 	JOHN B. SANFILIPPO & SON, INC,

a Delaware corporation

 	 
	 	By:  	/s/
Michael J. Valentine 	 
	 	 	Title: 	CFO 
	 

 

 

	 	 	 	 	 
	 	WELLS FARGO CAPITAL FINANCE, LLC 

(f/k/a Wells Fargo Foothill, LLC), a Delaware

limited liability company, as Agent and as a Lender

 	 
	 	By:  	/s/
Matt Mouledous 	 
	 	 	Title: 	Vice President 
	 	 	 	 
	 
	 	SOUTHWEST GEORGIA FARM
CREDIT,
ACA for itself and as agent/nominee for Southwest
Georgia Farm Credit, FLCA
as a Lender

 	 
	 	By:  	/s/
Richard Horn 	 
	 	 	Title: 	Executive Vice
President/CLO

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