Document:

Employment Agreement

 Exhibit 10.1 

TALEO CORPORATION 

JONATHAN FADDIS EMPLOYMENT AGREEMENT 

This Agreement is entered into as of July 1, 2010 (the “Effective Date”) by and between Taleo Corporation, a Delaware corporation (the
“Company”) and Jonathan Faddis (“Executive”). The term of this Agreement shall be four (4) years from the Effective Date. The parties agree to engage in a good faith review and renewal evaluation of this Agreement at the
third anniversary of the Effective Date. If at the time of expiration of this Agreement the Company is engaged in discussions that may involve a Change in Control, as defined below, the term if this agreement shall be automatically extended by
eighteen (18) months from the original date of expiration. 
 1. Duties and Scope of Employment. 

(a) Positions and Duties. As of the Effective Date, Executive will serve as Senior Vice President and General Counsel. Executive
will assume and discharge such responsibilities as are commensurate with such position and as the Chief Executive Officer may direct from time to time. During Executive’s employment with the Company, Executive shall devote Executive’s full
time, skill and attention to Executive’s duties and responsibilities and shall perform faithfully, diligently and competently. In addition, Executive shall comply with and be bound by the operating policies, procedures and practices of the
Company in effect from time to time during Executive’s employment. The period of Executive’s employment under this Agreement is referred to herein as the “Employment Term.” 

(b) Obligations. During the Employment Term, Executive will devote Executive’s full business efforts and time to the Company.
For the duration of the Employment Term, Executive agrees not to actively engage in any other employment, occupation, or consulting activity for any direct or indirect remuneration (including membership on a board of directors) without the prior
approval of the Chief Executive Officer; provided, however, that Executive may, without the approval of the Chief Executive Officer, serve in any capacity with any civic, educational, or charitable organization, provided such services do not
interfere with Executive’s obligations to the Company. 
 2. At-Will Employment. Executive and the Company agree
that Executive’s employment with the Company constitutes “at-will” employment. Executive and the Company acknowledge that this employment relationship may be terminated at any time, upon written notice to the other party, with or
without good cause or for any or no cause, at the option either of the Company or Executive. However, as described in this Agreement, Executive may be entitled to severance benefits depending upon the circumstances of Executive’s termination or
resignation of employment. Upon the termination of Executive’s employment with the Company for any reason, Executive will be entitled to payment of all accrued but unpaid vacation, expense reimbursements, and other benefits due to Executive
through the date of Executive’s termination of employment under any Company-provided or paid plans, policies, and arrangements. 

3. Compensation. 

(a) Base Salary. The Company shall pay Executive an annual salary of $243,750 USD as compensation for Executive’s services
(the “Base Salary”). The Base Salary will be paid periodically in accordance with the Company’s normal payroll practices (but no less frequently than once per month) and be subject to the usual, required withholding. Executive’s
Base Salary will be subject to periodic review and adjustment (subject to Section 6(f)(ii) and the other provisions of this Agreement), and such adjustments will be made based upon the Company’s standard practices or the discretion of the
Company’s Board of Directors. 

 
Adjustments to Base Salary shall be incorporated into this Agreement upon the effective date of the adjusted Base Salary. 

(b) Bonus. Executive’s annual target for the aggregate amount of annual and quarterly bonuses will be
$131,250 USD (“Target Bonus”). Allocation, eligibility and payment of Target Bonus will be based upon achievement of quarterly or yearly performance goals established in good faith and approved by the Chief Executive Officer. Executive
will have the opportunity to discuss the nature of such performance goals with the Chief Executive Officer prior to such performance goals being approved by the Chief Executive Officer. Target Bonus amounts will not be earned unless Executive
remains employed through the relevant quarter (for quarterly bonus payments) and through the end of the fiscal year (for annual bonus payments). Bonus payments, if any, will be made no later than the
15th day of the third month following the later of
(i) the end of the Company’s fiscal year in which such bonus is earned, or (ii) the end of the calendar year in which such bonus is earned. Executive’s Target Bonus will be subject to periodic review and adjustment (subject to
Section 6(f)(ii) and the other provisions of this Agreement), and such adjustments will be made based upon the Company’s standard practices or the discretion of the Company’s Board of Directors. Adjustments to Target Bonus shall be
incorporated into this Agreement upon the effective date of the adjusted Target Bonus. 
 4. Employee Benefits.

 (a) Vacation. Executive will be eligible to receive four (4) weeks of paid annual vacation. Executive’s use
of vacation will be subject to the terms and conditions of the vacation policies in place at the Company, including without limitation, accrual limits and caps. 

(b) General. During the Employment Term, Executive will be eligible to participate in accordance with the terms of all Company
employee benefit plans, policies, and arrangements that are applicable to other senior executives of the Company, as such plans, policies, and arrangements may exist from time to time. 

5. Expenses. The Company will reimburse Executive for reasonable travel and other expenses incurred by Executive in the
furtherance of the performance of Executive’s duties hereunder, in accordance with the Company’s expense reimbursement policy as in effect from time to time. 

6. Severance. 

(a) If Company or a successor corporation terminates Executive’s employment for any reason other than Cause (as defined below) and
such event did not takes place within sixty (60) days prior to or eighteen (18) months following a Change in Control (as defined below), then Company or the successor corporation will pay Executive: 

(i) for any bonus period partially completed at the time of Executive’s termination or resignation, a lump sum equal to the daily
prorated amount of Executive’s then-current quarterly bonus (if any) and annual bonus, less any applicable state and federal required withholding amounts and other lawful deductions; 

(ii) an additional lump sum equal to fifty percent (50%) of Executive’s Base Salary at the rate in effect at the time of
Executive’s resignation or termination of employment, less any applicable state and federal required withholding amounts and other lawful deductions; and 

(iii) if Executive elects to continue Executive’s health insurance coverage under the Consolidated Omnibus Budget Reconciliation
Act (“COBRA”) following such termination or resignation 
  

 2 

 
of Executive’s employment, pay the same portion of Executive’s monthly premium under COBRA as it pays for active employees until the earliest of (i) the close of the six
(6) month period following the termination of Executive’s employment, (ii) the expiration of Executive’s continuation coverage under COBRA, or (iii) the date when Executive becomes eligible for substantially equivalent
health insurance coverage in connection with new employment or self-employment. 
 (b) If Company or a successor corporation
terminates Executive’s employment for any reason other than Cause (as defined below) or if Executive resigns for Good Reason (as defined below) and either such event takes place within sixty (60) days prior to or eighteen (18) months
following a Change in Control (as defined below), then Company or the successor corporation will pay Executive: 
 (i) for any
bonus period partially completed at the time of Executive’s termination or resignation, a lump sum equal to the daily prorated amount of Executive’s then-current quarterly bonus (if any) and annual bonus, less any applicable state and
federal required withholding amounts and other lawful deductions; 
 (ii) an additional lump sum equal to fifty percent
(50%) of Executive’s Base Salary at the rate in effect at the time of Executive’s resignation or termination of employment, less any applicable state and federal required withholding amounts and other lawful deductions; 

(iii) an additional lump sum equal to fifty percent (50%) of Executive’s then-current Target Bonus, less any applicable state
and federal required withholding amounts and other lawful deductions; and 
 (iv) if Executive elects to continue
Executive’s health insurance coverage under the Consolidated Omnibus Budget Reconciliation Act (“COBRA”) following such termination or resignation of Executive’s employment, pay the same portion of Executive’s monthly
premium under COBRA as it pays for active employees until the earliest of (1) the close of the six (6) month period following the termination of Executive’s employment, (2) the expiration of Executive’s continuation coverage
under COBRA, or (3) the date when Executive becomes eligible for substantially equivalent health insurance coverage in connection with new employment or self-employment. 

(c) All benefits set forth in Sections 6(a) and 6(b) are collectively referred to as “Severance.” In the event Executive is
entitled to Severance under Section 6(b), Executive will not longer be entitled to Severance under Section 6(a). Subject to Section 7(a) and to any required six (6) month delay pursuant to Section 13, Severance payments,
other than reimbursements of COBRA premiums, shall be made by Company in one lump sum and shall be paid within thirty (30) days of any such termination of employment. 

(d) In addition to Severance, in the event that Company or a successor corporation terminates Executive’s employment for any reason
other than Cause (as defined below) or if Executive resigns for Good Reason (as defined below) and either such event takes place within sixty (60) days prior to or eighteen (18) months following a Change in Control (as defined below),
Executive will receive immediate vesting with respect to all unvested stock options and stock appreciation rights that are held by Executive, the Company’s right of repurchase shall lapse entirely with respect to restricted stock grants from
the Company to Executive, and the vesting of all Executive’s outstanding restricted stock units, performance shares and other equity compensation shall immediately vest in full; provided, however, if the award vests in whole or in part on the
achievement of performance metrics, such metrics shall be deemed achieved at 100% of target levels (unless otherwise provided in the applicable award agreement). In the event of Executive’s termination of employment as described in this
subsection (e), the Executive’s then outstanding stock options shall be exercisable for 3 months after Executive’s date of termination. Notwithstanding the foregoing, in no case shall any option be exercisable after the expiration of its
term. 
  

 3 

 (e) For purposes of this Section 6, “Cause” means (i) any act of
personal dishonesty taken by Executive in connection with Executive’s employment responsibilities, (ii) Executive’s conviction of a felony, (iii) any act by Executive that constitutes material misconduct, (iv) repeated
failures to follow the lawful, reasonable instructions of the Chief Executive Officer, or (v) substantial violations of employment or fiduciary duties, responsibilities or obligations to Company. 

(f) For purposes of this Section 6, “Good Reason” means (i) without Executive’s consent, a significant reduction
of Executive’s duties, position or responsibilities relative to Executive’s duties, position or responsibilities in effect immediately prior to such reduction, other than a reduction where Executive are asked to assume substantially
similar duties and responsibilities in a division of a larger entity after a Change in Control; (ii) without Executive’s consent, a reduction of Executive’s Base Salary or Target Bonus other than a one-time reduction that does not
exceed twenty percent (20%) and that is also applied to substantially all of Company’s senior executives; (iii) without Executive’s consent, Executive’s relocation to a facility or a location greater than 75 miles from
Dublin, CA; or (iv) the failure of a successor entity after a Change in Control to assume this Agreement. If Executive does not notify Company in writing that Executive believes a significant reduction of Executive’s duties, position or
responsibilities has occurred pursuant to this Section 6 within thirty days of the event or occurrence that Executive believes to have resulted in such a significant reduction, then such reduction shall be deemed for purposes of this Agreement
as not constituting Good Reason, as that terms is used in this Section 6. Disagreement as to the allocation, eligibility and payment of Target Bonus to be set forth in a Target Bonus Schedule shall not be a basis for Good Reason resignation.

 (g) For purposes of this Section 6, “Change in Control” means the occurrence of any of the following events:
(i) any “person” (as such term is used in Sections 13(d) and 14(d) of the Exchange Act) becomes the “beneficial owner” (as defined in Rule 13d-3 of the Exchange Act), directly or indirectly, of securities of the Company
representing fifty percent (50%) or more of the total voting power represented by the Company’s then outstanding voting securities and such change in ownership results in broad management changes at Company; or (ii) the consummation
of the sale or disposition by Company of all or substantially all of Company’s assets; or (iii) the consummation of a merger or consolidation of Company with any other corporation, other than a merger or consolidation which would result in
the voting securities of Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity or its parent) more than fifty percent (50%) of
the total voting power represented by the voting securities of Company or such surviving entity or its parent outstanding immediately after such merger or consolidation. 

(h) Notwithstanding the above, Company’s Chief Executive Officer reserves the right to make reasonable organizational structure
changes reasonably commensurate with the position of Chief Executive Officer. Such changes may include the shifting or reassignment of divisional, geographic or team responsibilities among members of the executive team. Such changes are within the
reasonable discretion of the Chief Executive Officer and shall not constitute Good Reason, as that term is used in this Section 6. 

(i) Termination due to Death or Disability. If Executive’s employment terminates by reason of death or Disability, then
(i) Executive will be entitled to receive benefits only in accordance with the Company’s then applicable plans, policies, and arrangements, and (ii) Executive’s outstanding equity awards will terminate in accordance with the
terms and conditions of the applicable award agreement(s). 
 (j) Sole Right to Severance. This Agreement is intended to
represent Executive’s sole entitlement to severance payments and benefits in connection with the termination of Executive’s employment. To the extent Executive receives severance or similar payments and/or benefits under any other Company
plan, program, agreement, policy, practice, or the like, severance payments and benefits due to Executive under this Agreement will be correspondingly reduced (and vice-versa). 

 

 4 

 7. Conditions to Receipt of Severance. 

(a) Separation Agreement and Release of Claims. The receipt of any severance pursuant to this Agreement will be subject to
Executive signing and not revoking a separation agreement and release of claims (the “Release”) in a form reasonably acceptable to the Company which becomes effective within sixty (60) days following Executive’s employment
termination date or such earlier date as required by the Release (such deadline, the “Release Deadline”). The Release will provide (among other things) that Executive will not disparage the Company, its directors, or its executive
officers, and will contain No-Inducement and No-Solicit terms consistent with this Agreement. No severance pursuant to this Agreement will be paid or provided until the Release becomes effective. Notwithstanding any timing of payment provision in
Section 6, in the event severance payments provided under Section 6(a) or Section 6(b) would be considered Deferred Payments (as defined in Section 13 below), then the following timing of payments will apply to such Deferred
Payments, in each case subject to any delay in payment required by the provisions of Section 13 (and provided the Release becomes effective): 

(i) If the Release Deadline is on or before December 10 of the calendar year in which Executive’s “separation from
service” (within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended, and any final regulations and official guidance promulgated thereunder (together, “Section 409A”)) occurs, any portion of
the severance payments or benefits provided under Section 6(a) or Section 6(b) that would be considered Deferred Payments will be paid to Executive on or before December 31 of that calendar year or such later time as required by
(A) the payment schedule applicable to each payment or benefit as set forth in Section 6, or (B) if applicable, Section 13 of this Agreement; and 

(ii) If the Release Deadline is after December 10 of the calendar year in which Executive’s “separation from
service” (within the meaning of Section 409A) occurs, any portion of the severance payments or benefits provided under Section 6(a) or Section 6(b) that would be considered Deferred Payments will be paid on the first payroll date
to occur during the calendar year following the calendar year in which such separation of service occurs or such later time as required by (A) the payment schedule applicable to each payment or benefit as set forth in Section 6,
(B) the Release Deadline, or (C) if applicable, Section 13 of this Agreement. 
 (b) No-Inducement and
No-Solicit. In the event of a termination or resignation of Executive’s employment that otherwise would entitle Executive to the receipt of severance payments or benefits pursuant to Section 6, Executive agrees that as a condition to
receipt of such severance, during the 12-month period following termination of employment, Executive, directly or indirectly, whether as employee, owner, sole proprietor, partner, director, founder or otherwise, will (i) not, solicit, induce,
or influence any person to modify their employment or consulting relationship with the Company (the “No-Inducement”), and (ii) not solicit, divert or take away or attempt to solicit, divert or take away the business of any customer or
prospective customer of the Company (the “No-Solicit”). If Executive breaches the No-Inducement or No-Solicit, all payments and benefits to which Executive otherwise may be entitled pursuant to Section 6 will cease immediately and
shall be repaid to the Company. Executive acknowledges that the time, geographic and scope limitations of Executive’s obligations under this section that are to be reflected in a separation agreement are fair and reasonable in all respects, and
provides no more protection than is necessary to protect the Company’s Confidential Information and, consequently, to preserve the value and goodwill of the Company. Executive further acknowledges that Executive will not be precluded from
gainful employment as a result of the obligations of this section. In the event the provisions of this section are deemed to exceed the time, geographic or scope limitations permitted by applicable law, Executive and the Company mutually agree that
such provisions shall be reformed to the maximum time, geographic or scope limitations, as the case may be, than permitted by such law. The covenants contained in this section shall be construed as a series of separate covenants, one for each city,
town, suburb and state within the geographical area. For purposes of this Section 7, “geographical area” shall mean (i) all counties in the State where 

 

 5 

 
Executive was employed by the Company; (ii) all other states of the United States of America from which the Company derived revenue at any time during the two-year period prior to the date
of the termination of Executive’s relationship with the Company, and (iii) all other province, state, city or other political subdivision of each country from which the Company derived revenue at any time during the two-year period prior
to the date of the termination of Executive’s relationship with the Company. 
 8. Confidential Information.

 (a) Company Information. The Executive will not, at any time, whether during or subsequent to Executive’s
employment hereunder, directly or indirectly, disclose or furnish to any other person, firm or corporation, or use on behalf of himself/herself or any other person, firm or corporation, any confidential or proprietary information acquired by the
Executive in the course of Executive’s employment with the Company, including, without limiting the generality of the foregoing, product design, product roadmaps, future product plans, contractual details relating to current Company clients,
buying habits of present and prospective clients of Company, pricing and sales policy, techniques and concepts, the names of customers or prospective customers of the Company or of any person, firm or corporation who or which have or shall have
treated or dealt with the Company or any of its subsidiaries or affiliated companies, any other information acquired by the Executive regarding the methods of conducting the business of the Company and any of its subsidiaries and/or affiliates, any
information regarding the Company’s methods of research and development, of obtaining business, of manufacturing, of providing or advertising products or services, or of obtaining customers, trade secrets and other confidential information
concerning the business operations of the Company or any company and/or entity affiliated with the Company, except to the extent that such information is already generally known in the public domain. 

(b) Former Employer Information. Executive agrees, during employment with the Company, not to improperly use or disclose any
proprietary information or trade secrets of any former or concurrent employer or other person or entity and that Executive will not bring onto the premises of the Company any unpublished document or proprietary information belonging to any such
employer, person or entity unless consented to in writing by such employer, person or entity. 
 (c) Third Party
Information. Executive recognizes that the Company has received and in the future will receive from third parties their confidential or proprietary information subject to a duty on the Company’s part to maintain the confidentiality of such
information and to use it only for certain limited purposes. Executive agrees to hold all such confidential or proprietary information in the strictest confidence and not to disclose it to any person, firm or corporation or to use it except as
necessary in carrying out work for the Company consistent with the Company’s agreement with such third party. 
 (d)
Assignment of Inventions. Executive agrees to promptly make full written disclosure to the Company, will hold in trust for the sole right and benefit of the Company and hereby assigns to the Company, or its designee, all right, title and
interest in and to any and all inventions, original works of authorship, developments, concepts, improvements, or trade secrets, whether or not patentable or registrable under copyright or similar laws, which Executive may solely or jointly conceive
or develop or reduce to practice, or cause to be conceived or developed or reduced to practice, during the period of time Executive is in the employ of the Company (collectively referred to as “Inventions”). Executive further acknowledges
that all original works of authorship which are made by Executive (solely or jointly with others) within the scope of and during the period of Executive’s employment with the Company and which are protectable by copyright are “works made
for hire” as that term is defined in the relevant copyright act. 
 (e) Inventions Retained and Licensed. Executive
has attached hereto, as Schedule A, a list of all inventions, original works of authorship, developments, improvements, and trade secrets which were made by Executive prior to Executive’s employment with the Company (collectively referred to as
“Prior 
  

 6 

 
Inventions”), which belong to Executive, which relate to the Company’s proposed business, products or research and development, and which are not assigned to the Company hereunder; or,
if no such list is attached, Executive represents that there are no such Prior Inventions. If in the course of Executive’s employment with the Company, Executive incorporates into a Company product, process or machine a Prior Invention owned by
Executive or in which Executive has an interest, the Company is hereby granted and shall have a nonexclusive, royalty-free, irrevocable, perpetual, worldwide license to make, have made, modify, use, and sell such Prior Invention as part of or in
connection with such product, process or machine. 
 (f) Maintenance of Records. Executive agrees to keep and maintain
adequate and current written records of all Inventions made by Executive (solely or jointly with others) during the term of Executive’s employment with the Company. The records will be in the form of notes, sketches, drawings, and any other
format that may be specified by the Company. The records will be available to and remain the sole property of the Company at all times. 

(g) Patent and Copyright Registrations. Executive agrees to assist the Company, or its designee, at the Company’s expense, in
every proper way to secure the Company’s rights in the Inventions and any copyrights, patents, mask work rights or other intellectual property rights relating thereto in any and all countries, including the disclosure to the Company of all
pertinent information and data with respect thereto, the execution of all applications, specifications, oaths, assignments and all other instruments which the Company shall deem necessary in order to apply for and obtain such rights and in order to
assign and convey to the Company, its successors, assigns, and nominees the sole and exclusive rights, title and interest in and to such Inventions, and any copyrights, patents, mask work rights or other intellectual property rights relating
thereto. Executive further agrees that Executive’s obligation to execute or cause to be executed, when it is in Executive’s power to do so, any such instrument or papers shall continue after the termination of this Agreement. If the
Company is unable because of Executive’s mental or physical incapacity or for any other reason to secure Executive’s signature to apply for or to pursue any application for any Canadian or foreign patents or copyright registrations
covering Inventions or original works of authorship assigned to the Company as above, then Executive hereby irrevocably designate and appoint the Company and its duly authorized officers and agents as Executive’s agent and attorney in fact, to
act for and in Executive’s behalf and stead to execute and file any such applications and to do all other lawfully permitted acts to further the prosecution and issuance of letters patent or copyright registrations thereon with the same legal
force and effect as if executed by Executive. 
 (h) Return of Company Documents. Executive agrees that, at the time of
leaving the employ of the Company, Executive will deliver to the Company (and will not keep in Executive’s possession, recreate or deliver to anyone else) any and all devices, records, data, notes, reports, proposals, lists, correspondence,
specifications, drawings blueprints, sketches, materials, equipment, other documents or property, or reproductions of any aforementioned items developed by Executive pursuant to Executive’s employment with the Company or otherwise belonging to
the Company, its successors or assigns. 
 9. Assignment. This Agreement will be binding upon and inure to the benefit of
(a) the heirs, executors, and legal representatives of Executive upon Executive’s death and (b) any successor of the Company. Any such successor of the Company will be deemed substituted for the Company under the terms of this
Agreement for all purposes. For this purpose, “successor” means any person, firm, corporation, or other business entity which at any time, whether by purchase, merger, or otherwise, directly or indirectly acquires all or substantially all
of the assets or business of the Company. None of the rights of Executive to receive any form of compensation payable pursuant to this Agreement may be assigned or transferred except by will or the laws of descent and distribution. Any other
attempted assignment, transfer, conveyance, or other disposition of Executive’s right to compensation or other benefits will be null and void. 
  

 7 

 10. Notices. All notices, requests, demands, and other communications called for
hereunder will be in writing and will be deemed given (a) on the date of delivery if delivered personally, (b) one day after being sent by a well established commercial overnight service, or (c) four days after being mailed by
registered or certified mail, return receipt requested, prepaid and addressed to the parties or their successors at the following addresses, or at such other addresses as the parties may later designate in writing: 

If to the Company: 

Attn: General Counsel 

Taleo Corporation 

4140 Dublin Boulevard, Suite 400 

Dublin, CA 94568 

If to Executive: 

at the last residential address known by the Company as provided by Executive in writing. 

11. Severability. In the event that the application of any provision hereof to any particular facts or circumstances shall be held
to be invalid or unenforceable under the governing law hereof, then: (i) such provision shall be reformed without further action by the parties to the extent strictly necessary to render such provision valid and enforceable when applied to such
particular facts or circumstances; and (ii) the validity and enforceability of such provision as applied to any other particular facts or circumstances, and the validity and enforceability of all of the other provisions hereof, shall in no way
be affected or impaired thereby. 
 12. Arbitration. 

(a) General. In consideration of Executive’s employment with the Company, its promise to arbitrate all employment related
disputes, and Executive’s receipt of the compensation and other benefits paid to Executive by the Company, at present and in the future, Executive agrees that any and all controversies, claims, or disputes with anyone (including the Company and
any employee, officer, director, shareholder, or benefit plan of the Company in their capacity as such or otherwise), whether brought on an individual, group, or class basis, arising out of, relating to, or resulting from Executive’s employment
with the Company under this Agreement or otherwise or the termination of Executive’s employment with the Company, including any breach of this Agreement, shall be subject to binding arbitration by JAMS pursuant to its Employment Arbitration
Rules & Procedures (the “JAMS Rules”). Disputes which Executive agrees to arbitrate, and thereby agrees to waive any right to a trial by jury, include any statutory claims under state or federal law, including, but not limited to,
claims under Title VII of the Civil Rights Act of 1964, the Americans with Disabilities Act of 1990, the Age Discrimination in Employment Act of 1967, the Older Workers Benefit Protection Act, claims of harassment, discrimination, or wrongful
termination, and any statutory claims. Executive further understands that this Agreement to arbitrate also applies to any disputes that the Company may have with Executive. 

(b) Procedure. Executive agrees that the arbitrator shall have the power to decide any motions brought by any party to the
arbitration, including motions for summary judgment and/or adjudication, motions to dismiss or strike, and motions for class certification, prior to any arbitration hearing. Executive agrees that the arbitrator will issue a written decision on the
merits. Executive also agrees that the arbitrator shall have the power to award any remedies available under applicable law, and that the arbitrator shall award attorneys’ fees and costs to the prevailing party, except as prohibited by law.
Executive understands that the Company and Executive will split any administrative or hearing fees charged by the arbitrator or JAMS, except that the party initiating the arbitration will pay the full filing fee. Executive agrees that any
arbitration under this Agreement shall be conducted in accordance with the laws of California, and that the arbitrator 

 

 8 

 
shall apply the substantive and procedural laws of California, without reference to the rules of conflict of law. To the extent that the JAMS Rules conflict with the laws of California, the JAMS
Rules will take precedence. The parties agree that arbitration proceedings will be held in the county where Executive is employed by the Company. 

(c) Remedy. Except for the provisional remedies provided for under California law and this Agreement, arbitration will be the
sole, exclusive, and final remedy for any dispute between Executive and the Company. Accordingly, except as provided for by California law and this Agreement, neither Executive nor the Company will be permitted to pursue court action regarding
claims that are subject to arbitration. Notwithstanding, the arbitrator will not have the authority to disregard or refuse to enforce any lawful Company policy, and the arbitrator will not order or require the Company to adopt a policy not otherwise
required by law which the Company has not adopted. 
 (d) Availability of Injunctive Relief. In addition to the right
under California law to petition the court for provisional relief, Executive agrees that any party also may petition the court for injunctive relief where either party alleges or claims a breach or threatened breach of this Agreement or any other
agreement regarding trade secrets, confidential information, nonsolicitation, noninducement or noncompetition. 
 (e)
Administrative Relief. Executive understands that this Agreement does not prohibit Executive from pursuing an administrative claim with a local, state, or federal administrative body such as the Equal Employment Opportunity Commission, the
National Labor Relations Board or the workers’ compensation board. This Agreement does, however, preclude Executive from pursuing court action regarding any such claim. 

(f) Voluntary Nature of Agreement. Executive acknowledges and agrees that Executive is executing this Agreement voluntarily and
without any duress or undue influence by the Company or anyone else. Executive further acknowledges and agrees that Executive has carefully read this Agreement and that Executive has asked any questions needed for Executive to understand the terms,
consequences, and binding effect of this Agreement, including that Executive is waiving Executive’s right to a jury trial. Finally, Executive agrees that Executive has been provided an opportunity to seek the advice of an attorney of
Executive’s choice before signing this Agreement. 
 13. Section 409A. 

(a) Notwithstanding anything to the contrary in this Agreement, no severance payments or benefits payable to Executive, if any, pursuant
to this Agreement that, when considered together with any other severance payments or separation benefits, is considered deferred compensation under Section 409A (together, the “Deferred Payments”) will be payable until Executive has
a “separation from service” within the meaning of Section 409A. Similarly, no severance payable to Executive, if any, pursuant to this Agreement that otherwise would be exempt from Section 409A pursuant to Treasury Regulation
Section 1.409A-1(b)(9) will be payable until Executive has a “separation from service” within the meaning of Section 409A. 

(b) Further, if Executive is a “specified employee” within the meaning of Section 409A at the time of Executive’s
separation from service (other than due to death), any Deferred Payments that otherwise are payable within the first six (6) months following Executive’s separation from service will become payable on the first payroll date that occurs on
or after the date six (6) months and one (1) day following the date of Executive’s separation from service. All subsequent Deferred Payments, if any, will be payable in accordance with the payment schedule applicable to each payment
or benefit. Notwithstanding anything herein to the contrary, in the event of Executive’s death following Executive’s separation from 

 

 9 

 
service but prior to the six (6) month anniversary of Executive’s separation from service (or any later delay date), then any payments delayed in accordance with this paragraph will be
payable in a lump sum as soon as administratively practicable after the date of Executive’s death and all other Deferred Payments will be payable in accordance with the payment schedule applicable to each payment or benefit. Each payment and
benefit payable under the Agreement is intended to constitute a separate payment for purposes of Section 1.409A-2(b)(2) of the Treasury Regulations. 

(c) Any severance payment that satisfies the requirements of the “short-term deferral” rule set forth in
Section 1.409A-1(b)(4) of the Treasury Regulations shall not constitute Deferred Payments for purposes of the Agreement. Any severance payment that qualifies as a payment made as a result of an involuntary separation from service pursuant to
Section 1.409A-1(b)(9)(iii) of the Treasury Regulations that does not exceed the Section 409A Limit shall not constitute Deferred Payments for purposes of the Agreement. For purposes of this subsection (c), “Section 409A Limit”
will mean the lesser of two (2) times: (i) Executive’s annualized compensation based upon the annual rate of pay paid to Executive during the Company’s taxable year preceding the Company’s taxable year of Executive’s
separation from service as determined under Treasury Regulation Section 1.409A-1(b)(9)(iii)(A)(1) and any Internal Revenue Service guidance issued with respect thereto; or (ii) the maximum amount that may be taken into account under a
qualified plan pursuant to Section 401(a)(17) of the Code for the year in which Executive’s employment is terminated. 

(d) The foregoing provisions are intended to comply with the requirements of Section 409A so that none of the severance payments and
benefits to be provided under the Agreement will be subject to the additional tax imposed under Section 409A, and any ambiguities herein will be interpreted to so comply. Executive and the Company agree to work together in good faith to
consider amendments to the Agreement and to take such reasonable actions which are necessary, appropriate or desirable to avoid imposition of any additional tax or income recognition prior to actual payment to Executive under Section 409A.

 14. Integration. This Agreement, along with the documents incorporated by reference herein, represents the entire
agreement and understanding between the parties as to the subject matter herein and supersedes all prior or contemporaneous agreements whether written or oral, including any employment, change of control or severance agreement entered into with the
Company or any subsidiary of the Company. No waiver, alteration, or modification of any of the provisions of this Agreement will be binding unless in a writing that specifically references this Section and is signed by duly authorized
representatives of the parties hereto. With respect to stock options and awards of restricted stock granted on or after the date hereof, the acceleration of vesting provisions provided herein will apply to such awards except to the extent otherwise
explicitly provided in the applicable equity award agreement. 
 15. Waiver of Breach. The waiver of a breach of any term
or provision of this Agreement, which must be in writing, will not operate as or be construed to be a waiver of any other previous or subsequent breach of this Agreement. 

16. Survival. The Company’s and Executive’s responsibilities under Sections 8 and 12 and all other provisions intended
by their terms to survive the termination of this Agreement will survive the termination of this Agreement. 
 17.
Headings. All captions and section headings used in this Agreement are for convenient reference only and do not form a part of this Agreement. 

18. Tax Withholding. All payments made pursuant to this Agreement will be subject to Withholdings. 

 

 10 

 19. Governing Law. This Agreement will be governed by the laws of the State of
California (with the exception of its conflict of laws provisions). 
 20. Acknowledgment. Executive acknowledges that
Executive has had the opportunity to discuss this matter with and obtain advice from Executive’s private attorney, has had sufficient time to, and has carefully read and fully understands all the provisions of this Agreement, and is knowingly
and voluntarily entering into this Agreement. 
 21. Counterparts. This Agreement may be executed in counterparts, and
may be exchanged by fax or electronically scanned and emailed copies. Each counterpart will have the same force and effect as an original and will constitute an effective, binding agreement on the part of each of the undersigned. 

22. Parachutes. Notwithstanding any other provisions of this Agreement to the contrary, in the event that any payments or benefits
received or to be received by Executive in connection with Executive’s employment with Company (or termination thereof) would subject Executive to the excise tax imposed under Section 4999 of the Internal Revenue Code of 1986, as amended
(the “Excise Tax”), and if the net-after tax amount (taking into account all applicable taxes payable by Executive, including without limitation any Excise Tax) that Executive would receive with respect to such payments or benefits is less
than the net-after tax amount Executive would receive if the amount of such payments and benefits were reduced to the maximum amount which could otherwise be payable to Executive without the imposition of the Excise Tax, then, and only the extent
necessary to eliminate the imposition of the Excise Tax, such payments and benefits shall be so reduced. Any reduction in payments and/or benefits required by this Section 22 will occur in the following order: (a) reduction of cash
payments; (b) reduction of vesting acceleration of equity awards; and (c) reduction of other benefits paid or provided to Executive. In the event that acceleration of vesting of equity awards is to be reduced, such acceleration of
vesting will be cancelled in the reverse order of the date of grant for Executive’s equity awards. If two or more equity awards are granted on the same date, each award will be reduced on a pro-rata basis. In no event shall the Executive
have any discretion with respect to the ordering of payment reductions. 
 Unless the Company and Executive otherwise agree in
writing, any determination required under this Section 22 will be made in writing by a nationally recognized certified public accounting firm selected by the Company, the Company’s legal counsel or such other person or entity to which the
parties mutually agree (the “Accountants”), whose determination will be conclusive and binding upon Executive and the Company for all purposes. 

For purposes of making the calculations required by this Section 22, the Accountants may make reasonable assumptions and
approximations concerning applicable taxes and may rely on reasonable, good faith interpretations concerning the application of Sections 280G and 4999 of the Code. The Company and Executive will furnish to the Accountants such information and
documents as the Accountants may reasonably request in order to make a determination under this Section 22. The Company will bear all costs the Accountants may reasonably incur in connection with any calculations contemplated by this
Section 22. 
  

 11 

 IN WITNESS WHEREOF, each of the parties has executed this Agreement, in the case of the
Company by a duly authorized officer, as of the day and year written below. 
  

									
	COMPANY:	  		  		  	
				
	TALEO CORPORATION	  		  		  	
					
	By:	 	 /s/ Christopher Lee
	  		  	Date:	  	  

					
	Name:	 	Christopher Lee	  		  		  	
					
	Title:	 	Group VP, People & Talent	  		  		  	
				
	EXECUTIVE:	  		  		  	
				
	 /s/ Jonathan Faddis
	  		  	Date:	  	 23 Sept. 2010

	Jonathan Faddis	  		  		  	

 [SIGNATURE PAGE TO JONATHAN FADDIS EMPLOYMENT AGREEMENT] 

 

 12 

 Schedule A 

List of Prior Inventions, Designs and Original Works of Authorship 

 

					
	Title	  	Date	  	Identifying Number of Brief Description
	
	  

  

            No invention or improvements 

            Additional sheets attached 

 

					
	Signature of Executive:	 	  
	 	
			
	Printed Name of Executive:	 	  
	 	
			
	Date:	 	  
	 	

  

 13Seventh Amendment to Amended and Restated Credit Agreement

 Exhibit 10.1 

SEVENTH AMENDMENT TO 

AMENDED AND RESTATED CREDIT AGREEMENT 

This SEVENTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT (“Amendment”) is entered into effective as of
September 16, 2010 (the “Effective Date”), among NORTHWEST PIPE COMPANY, an Oregon corporation (the “Borrower”), and BANK OF AMERICA, N.A., as Administrative Agent (the “Administrative Agent”).

 RECITALS 

Borrower, Administrative Agent and certain lenders party thereto from time to time are parties to that certain Amended and Restated
Credit Agreement entered into as of May 31, 2007 (as amended, modified or supplemented from time to time, the “Credit Agreement”). Borrower and Administrative Agent desire to amend the Credit Agreement as set forth herein. The
Required Lenders (as that term is defined in the Credit Agreement), and Bank of America, N.A., as Swing Line Lender and L/C Issuer, have consented to the amendments to the Credit Agreement set forth herein as indicated by their signatures below.

 NOW THEREFORE, the parties agree as follows: 

AGREEMENT 

1. Recitals. The Recitals are true. 

2. Definitions. Capitalized terms used herein and not otherwise defined shall have the meanings given in the Credit Agreement.

 3. Waivers. 

(a) Compliance with the financial covenants under Section 6.17 of the Credit Agreement (and any requirement that Borrower deliver
any additional Compliance Certificate demonstrating compliance with such covenants for such period) is waived for Borrower’s fiscal quarter ending June 30, 2010. 

(b) Borrower has advised Administrative Agent and Lenders that it expects to restate its financial statements for its fiscal years ending
December 31 of each of 2007, 2008 and 2009 (the “Restatement”). Any Events of Default that may have occurred under the Credit Agreement by reason of any certification previously provided by any officer of Borrower in any
Compliance Certificate with respect to financial statements of Borrower delivered under the Credit Agreement being rendered inaccurate or misleading as a result of such restatement, are hereby waived; the Restatements will not be used to retest
compliance with any financial covenants for any period through June 30, 2010. 
 (c) The foregoing waivers are conditioned
on the Restatement being consistent in all material respects with the draft restatement delivered by Borrower to 
  

 Page 1 – SEVENTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT 

 
Administrative Agent and Lenders on August 31, 2010. The foregoing waivers do not constitute waivers of any other Default now existing or hereafter arising, whether known or unknown by
Administrative Agent. The foregoing waivers do not represent any amendment of any provision of the Credit Agreement. 
 4.
Amendments to Definitions. 
 (a) The definition of “Annualized Consolidated EBITDA” is deleted from the Credit
Agreement. 
 (b) The table contained in the definition of “Applicable Rate” in Section 1.01 of the Credit
Agreement is amended in its entirety to read as follows: 
  

																		
	Applicable Rate	 
	 Pricing

Level
	 	 Consolidated Total

Leverage Ratio
	 	 Eurocurrency

Rate +
	 	 	 Standby

Letters of

Credit
	 	 	 Commercial

Letters of

Credit
	 	 	Commitment
Fee	 	 	 Base Rate

+ or -
	 
	1	 	34.50:1	 	4.50	% 	 	4.50	% 	 	2.00	% 	 	0.875	% 	 	3.50	% 
	2	 	33.50:1 but <4.50:1	 	4.00	% 	 	4.00	% 	 	2.00	% 	 	0.750	% 	 	3.00	% 
	3	 	33.00:1 but <3.50:1	 	3.75	% 	 	3.75	% 	 	1.875	% 	 	0.625	% 	 	2.75	% 
	4	 	32.50: but <3.00:1	 	3.375	% 	 	3.375	% 	 	1.6875	% 	 	0.50	% 	 	2.375	% 
	5	 	32.00 but <2.50:1	 	2.875	% 	 	2.875	% 	 	1.4375	% 	 	0.40	% 	 	1.875	% 
	6	 	<2.00:1	 	2.50	% 	 	2.50	% 	 	1.25	% 	 	0.40	% 	 	1.50	% 

 The Applicable
Rate from the Effective Date through the delivery date of the Compliance Certificate required to be delivered together with the financial statements described in Section 6.1(b) of the Credit Agreement for Borrower’s fiscal quarter ending
September 30, 2010, shall be determined based upon Pricing Level 1. 
 (c) The definition of “Consolidated
EBITDA” in Section 1.01 of the Credit Agreement is amended in its entirety to read as follows: 

“‘Consolidated EBITDA’” means for any period, for the Borrower and its Subsidiaries on a consolidated basis, an
amount equal to Consolidated Net Income for such period plus (a) the following to the extent deducted in calculating such Consolidated Net Income: (i) Consolidated Interest Charges for such period, (ii) the provision for
federal, state, local and foreign income taxes payable by the Borrower and its Subsidiaries for such period, (iii) depreciation and amortization expense and (iv) other expenses in such period reducing Consolidated Net Income for such
period which did not or will not require a cash settlement in such period or any future period (including but not limited to impairment charges, costs 

 

 Page 2 – SEVENTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT 

 
associated with exit or disposal activities and stock based compensation), minus (b) all items increasing Consolidated Net Income for such period which did not or will not result in a cash
settlement in such period or any future period, including any gain from the sale of assets. For purposes of calculating Consolidated EBITDA, EBITDA for permitted acquisitions made by the Borrower, based on financial statements and information
reported to the SEC shall be included in the calculation of Consolidated EBITDA. The permitted acquisitions’ EBITDA shall be incorporated on a decreasing pro-rata basis, with 100% of the permitted acquisitions’ EBITDA included in the
calculation for the first calendar quarter end following the close of the acquisition, 75% included in the second quarter end, 50% included in the third quarter end and 25% included in the fourth quarter end. Beginning with the fifth quarter
following the closing of the acquisition, the EBITDA for the acquisitions’ prior fiscal year shall no longer be incorporated in the calculation of Consolidated EBITDA.” 

(d) The definition of “Consolidated Senior Leverage Ratio” in Section 1.01 of the Credit Agreement is amended in its
entirety to read as follows: 
 “‘Consolidated Senior Leverage Ratio’ means, on any date of determination,
the ratio of Consolidated Senior Funded Debt to Consolidated EBITDA for the period of four consecutive fiscal quarters of the Borrower and its Subsidiaries then most recently ended.” 

(e) The definition of “Consolidated Total Leverage Ratio” in Section 1.01 of the Credit Agreement is amended in its
entirety to read as follows: 
 “‘Consolidated Total Leverage Ratio’ means, on any date of determination,
the ratio of the Consolidated Total Debt to Consolidated EBITDA for the period of four consecutive fiscal quarters of the Borrower and its Subsidiaries then most recently ended.” 

(f) The definition of “Temporary Availability Block” in Section 1.01 of the Credit Agreement is amended in its entirety to
read as follows: 
 “‘Temporary Availability Block’ means from September 17, 2010, until delivery by
Borrower of the Compliance Certificate required to be delivered pursuant to Section 6.02(b) hereof with respect to the fiscal quarter of Borrower and its Subsidiaries ending March 31, 2011, the amount of $7,500,000, and thereafter
$0.” 
  

 Page 3 – SEVENTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT 

 5. Amendment to Section 6.01(a)(i) of the Credit Agreement.
Section 6.01(a)(i) of the Credit Agreement is amended in its entirety to read as follows: 
 “(a)(i) as soon as
available, but in any event within 288 days after the end of Borrower’s 2009 fiscal year, and within 105 days after the end of each other fiscal year of the Borrower, a consolidated balance sheet of the Borrower and its Subsidiaries as at the
end of such fiscal year, and the related consolidated statements of income or operations, shareholders’ equity and cash flows for such fiscal year, setting forth in each case in comparative form the figures for the previous fiscal year, all in
reasonable detail and prepared in accordance with GAAP, such consolidated statements to be audited and accompanied by a report and opinion of an independent certified public accountant of nationally recognized standing reasonably acceptable to the
Required Lenders, which report and opinion shall be prepared in accordance with generally accepted auditing standards and shall not be subject to any “going concern” or like qualification or exception or any qualification or exception as
to the scope of such audit; and” 
 6. Amendment to Section 6.01(b)(i) of the Credit Agreement.
Section 6.01(b)(i) of the Credit Agreement is amended in its entirety to read as follows: 
 “(b)(i) as soon as
available, but in any event within (x) 212 days after the end of the first fiscal quarter of Borrower’s 2010 fiscal year, (y) 121 days after the end of the second fiscal quarter of Borrower’s 2010 fiscal year, and (z) 60
days after the end of each of the other first three fiscal quarters of each fiscal year of Borrower, a consolidated balance sheet of the Borrower and its Subsidiaries as at the end of such fiscal quarter, and the related consolidated statements of
income or operations, shareholders’ equity and cash flows for such fiscal quarter and for the portion of the Borrower’s fiscal year then ended, setting forth in each case in comparative form the figures for the corresponding fiscal quarter
of the previous fiscal year and corresponding portion of the previous fiscal year, all in reasonable detail and prepared in accordance with GAAP, such consolidated statements to be certified by the chief executive officer, chief financial officer,
treasurer or controller of the Borrower as fairly presenting the financial condition, results of operations, shareholders’ equity and cash flows of the Borrower and its Subsidiaries in accordance with GAAP, subject only to normal year end audit
adjustments and the absence of footnotes; and” 
  

 Page 4 – SEVENTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT 

 7. Amendment to Section 6.01(d) of the Credit Agreement. Section 6.01(d) of
the Credit Agreement is amended in its entirety to read as follows: 
 “(d)(i) Not later than the
fifteenth (15th) and the thirtieth
(30th) day of each month, (i) a forecast
prepared by management of the Borrower in form satisfactory to the Administrative Agent and the Required Lenders, of the weekly cash flows of the Borrower and its Subsidiaries for the periods commencing on Monday of the immediately succeeding week,
and ending 13 weeks thereafter, together with a statement of the actual cash flows of the Borrower and its Subsidiaries since the date of the then-most recently delivered cash flow forecast and a description of material variances between forecast
cash flows and actual cash flows for such period, and (ii) not later than eighth
(8th) Business Day of each of each month, a report of
the bookings and backlog of Borrower and its Subsidiaries, in a form and containing details satisfactory to the Administrative Agent and the Required Lenders, as of the last day of the immediately preceding month.” 

8. Amendment to Section 6.01(e) of the Credit Agreement. Section 6.01(e) of the Credit Agreement is amended in its
entirety to read as follows: 
 “(e) Not later than 60 days after the end of each fiscal quarter, an analysis of the
material variances between the forecasts contained in the business plan delivered to Administrative Agent by Borrower in August 2010 for such fiscal quarter or other applicable reporting period and Borrower’s actual financial results for such
fiscal quarter or reporting period, in form and substance satisfactory to the Administrative Agent and the Required Lenders.” 

9. Amendment to Section 6.17 of the Credit Agreement. Section 6.17 of the Credit Agreement is amended in its entirety to
read as follows: 
 “Section 6.17. Financial Covenants. 

“(a) Consolidated Fixed Charge Coverage Ratio. The Borrower shall maintain a Consolidated Fixed Charge
Coverage Ratio of (i) not less than 1.10:1.00 for the fiscal quarter ending June 30, 2011; and (ii) not less than 1.25:1.0 for each fiscal quarter thereafter. 

“(b) Consolidated Senior Leverage Ratio. The Borrower shall maintain a Consolidated Senior Leverage Ratio of
(i) not greater than 12.75:1.0 for the fiscal quarter ending September 30, 2010; (ii) not greater than 7.50:1.0 for the fiscal quarter ending December 31, 2010; (iii) not greater than 6.25:1.0 for the fiscal quarter ending
March 31, 2011; (iv) not greater than 4.75:1.0 for the fiscal quarter ending June 30, 2011; (v) not greater than 4.00:1.0 for the fiscal quarter ending September 30, 2011; and (vi) not greater than 3.50:1.00 for each
fiscal quarter thereafter. 
  

 Page 5 – SEVENTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT 

 “(c) Consolidated Total Leverage Ratio. The Borrower shall
maintain a Consolidated Total Leverage Ratio of (i) not greater than 12.75:1.0 for the fiscal quarter ending September 30, 2010; (ii) not greater than 7.50:1.0 for the fiscal quarter ending December 31, 2010; (iii) not
greater than 6.25:1.0 for the fiscal quarter ending March 31, 2011; (iv) not greater than 4.75:1.0 for the fiscal quarter ending June 30, 2011; and (v) not greater than 4.00:1.0 for each fiscal quarter thereafter. 

“(d) Consolidated Tangible Net Worth. The Borrower shall maintain at all times a Consolidated Tangible Net
Worth of not less than the sum of (i) the greater of $193,000,000 or 85 percent of Borrower’s Consolidated Tangible Net Worth as of June 30, 2010, (ii) 50% of the Consolidated Net Income (but only if it is a positive number) for
each fiscal quarter of the Borrower ended after June 30, 2010, and (iii) 100% of the net proceeds from any offering of the equity securities of the Borrower consummated after June 30, 2010. 

“(e) Asset Coverage Ratio. The Borrower shall maintain at all times an Asset Coverage Ratio of not less than
1.00:1.00. If the Borrower is out of compliance with this covenant, the Borrower may cure the resulting Default by paying Committed Loans within two (2) Business Days of learning of such non-compliance in an amount sufficient to bring itself
into compliance with this covenant. Any prepayment of a Eurocurrency Rate Loan shall be accompanied by all accrued interest on the amount prepaid, together with such additional amounts required pursuant to Section 3.05. Each such prepayment
shall be applied to the Committed Loans of Lenders in accordance with their Applicable Percentages. 
 “(f)
Minimum Consolidated EBITDA. The Borrower shall maintain a minimum Consolidated EBITDA equal to or greater than (i) $3,600,000 for the fiscal quarter ending on September 30, 2010, (ii) $9,400,000 for the cumulative two fiscal
quarters ending on December 31, 2010, (iii) and $18,500,000 for the cumulative three fiscal quarters ending on March 31, 2011. 

“(g) Rental and Operating Lease Expense. Beginning with the fiscal quarter ending December 31, 2010 and
continuing with each fiscal quarter thereafter, the Borrower shall not permit the ratio of (i) the sum of rental and operating lease expense for 

 

 Page 6 – SEVENTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT 

 
Borrower and its Subsidiaries (determined on a consolidated basis in accordance with GAAP) to (ii) total revenue of the Borrower and its Subsidiaries (determined on a consolidated basis in
accordance with GAAP), in each case for the period of four (4) consecutive fiscal quarters ended as of the end of such fiscal quarter, to exceed 6.00%.” 

10. Amendment to Exhibit D to the Credit Agreement. The form of Compliance Certificate attached to the Credit Agreement as Exhibit
D is amended in its entirety by substituting Exhibit D attached hereto for Exhibit D to the Credit Agreement. 
 11.
Amendment Fees. Prior to this Amendment becoming effective, , Borrower shall pay to Administrative Agent and the Required Lenders consenting hereto an amendment fee of $937,500, such amendment fee to be allocated among such Required Lenders
in proportion to the amounts of their respective Commitments. 
 12. Release. As a material part of the consideration of
Administrative Agent entering into, and the Required Lenders consenting to, this Amendment, Borrower hereby releases and forever discharges Administrative Agent, the Lenders and each of their respective successors, assigns, officers, managers,
directors, shareholders, employees, agents, attorneys, representatives, parent corporations, subsidiaries, and affiliates (all the foregoing, collectively, the “Releasees” and individually, a “Releasee”), jointly and severally
from any and all claims, counterclaims, demands, damages, debts, agreements, covenants, suits, contracts, obligations, liabilities, accounts, offsets, rights, actions and causes of action of any nature whatsoever, including all claims, demands, and
causes of action for contribution and indemnity, whether arising at law or in equity, whether presently possessed or possessed in the future, whether known or unknown, whether liability be direct or indirect, liquidated or unliquidated, whether
presently accrued or to accrue hereafter, whether absolute or contingent, foreseen or unforeseen, and whether or not heretofore asserted, which Borrower may have or claim to have against Releasees (or any one or more of them); provided,
however, that neither Administrative Agent nor any Lender nor any other Releasee shall be released hereby from: (i) any obligation to pay to Borrower any amounts that Borrower may have on deposit with Administrative Agent or any Lender,
in accordance with applicable laws and the terms of the documents establishing any such deposit relationship; or (ii) any claim (including without limitation any claim for breach of the Credit Agreement or other Loan Document) arising from any
action, inaction or conduct of Administrative Agent or the Lenders or the other Releasees after the effective date of this Amendment. 

13. No Further Amendment, Expenses. Except as expressly modified by this Amendment, the Credit Agreement and the other Loan
Documents shall remain unmodified in full force and effect and the parties hereby ratify their respective obligations thereunder. Without limiting the foregoing, Borrower expressly reaffirms and ratifies its obligation to pay or reimburse
Administrative Agent and Lenders on request for all reasonable expenses, including legal fees actually incurred by Administrative Agent and Lenders in connection with the preparation of this Amendment, any other amendment documents and the closing
of the transaction contemplated hereby and thereby. 
  

 Page 7 – SEVENTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT 

 14. Miscellaneous. 

(a) Counterparts. This Amendment may be executed in any number of counterparts and by different parties hereto in separate
counterparts, each of which when so executed shall be deemed to be an original, and all of which taken together shall constitute one and the same Amendment, it being understood that the Administrative Agent may rely on a facsimile counterpart
signature page hereof for purpose of determining whether a party hereto has executed a counterpart hereof. 
 (b) Governing
Law. This Amendment and the other agreements provided for herein and the rights and obligations of the parties hereto and thereto shall be construed and interpreted in accordance with the laws of the State of Oregon. 

(c) Certain Agreements Not Enforceable. UNDER OREGON LAW, MOST AGREEMENTS, PROMISES AND COMMITMENTS MADE BY THE LENDERS CONCERNING
LOANS AND OTHER CREDIT EXTENSIONS WHICH ARE NOT FOR PERSONAL, FAMILY OR HOUSEHOLD PURPOSES OR SECURED SOLELY BY THE BORROWER’S RESIDENCE MUST BE IN WRITING, EXPRESS CONSIDERATION, AND BE SIGNED BY THE LENDERS TO BE ENFORCEABLE. 

[Signatures appear on the following page.] 
  

 Page 8 – SEVENTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT 

 EXECUTED AND DELIVERED by the duly authorized officers of the parties as of the date first
above written. 
  

							
	BORROWER:	 		  	NORTHWEST PIPE COMPANY
				
		 		  	By:	  	  

		 		  	Name:	  	  

		 		  	Title:	  	  

			
	ADMINISTRATIVE AGENT:	 		  	 BANK OF AMERICA, N.A., as

Administrative Agent

				
		 		  	By:	  	  

		 		  	Name:	  	  

		 		  	Title:	  	  

			
	CONSENTED TO BY THE REQUIRED LENDERS:	 		  	BANK OF AMERICA, N.A.
		 		  
				
		 		  	By:	  	  

		 		  	Name:	  	  

		 		  	Title:	  	  

  

 Page 9 – SEVENTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT 

			
	 UNION BANK, N.A., formerly known as

Union Bank of California, N.A. 

		
	By:	 	  

	Name:	 	  

	Title:	 	  

 

			
	 HSBC BANK USA, NATIONAL

ASSOCIATION

		
	By:	 	  

	Name:	 	  

	Title:	 	  

 

			
	U.S. BANK NATIONAL ASSOCIATION
		
	By:	 	  

	Name:	 	  

	Title:	 	  

CONSENTED TO BY SWING LINE 

              LENDER AND L/C ISSUER 

 

			
	 BANK OF AMERICA, N.A., as Swing Line

Lender and L/C Issuer

		
	By:	 	  

	Name:	 	  

	Title:	 	  

 

 Page 10 – SEVENTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT 

 EXHIBIT D 

FORM OF COMPLIANCE CERTIFICATE 

Financial Statement
Date:                    ,  
  

	To:	Bank of America, N.A., as Administrative Agent 

Ladies and Gentlemen: 

Reference is made to that certain Amended and Restated Credit Agreement, dated as of May 31, 2007 (as amended, restated, extended,
supplemented or otherwise modified in writing from time to time, the “Agreement;” the terms defined therein being used herein as therein defined), among Northwest Pipe Company, an Oregon corporation (the
“Borrower”), the Lenders from time to time party thereto, and Bank of America, N.A., as Administrative Agent, L/C Issuer and Swing Line Lender. 

The undersigned Responsible Officer hereby certifies as of the date hereof that he/she is the
                             of the Borrower, and that, as such, he/she is authorized to execute and
deliver this Certificate to the Administrative Agent on the behalf of the Borrower, and that: 
 [Use following paragraph 1
for fiscal year-end financial statements] 
 1. The Borrower has delivered the year-end audited
financial statements required by Section 6.01(a) of the Agreement for the fiscal year of the Borrower ended as of the above date, together with the report and opinion of an independent certified public accountant required by such
section. 
 [Use following paragraph 1 for fiscal quarter-end financial statements] 

1. The Borrower has delivered the unaudited financial statements required by Section 6.01(b) of the Agreement for the fiscal
quarter of the Borrower ended as of the above date. Such financial statements fairly present the financial condition, results of operations and cash flows of the Borrower and its Subsidiaries in accordance with GAAP as at such date and for such
period, subject only to normal year-end audit adjustments and the absence of footnotes. 
 2. The undersigned has reviewed and
is familiar with the terms of the Agreement and has made, or has caused to be made under his/her supervision, a detailed review of the transactions and condition (financial or otherwise) of the Borrower during the accounting period covered by such
financial statements. 
 3. A review of the activities of the Borrower during such fiscal period has been made under the
supervision of the undersigned with a view to determining whether during such fiscal period the Borrower performed and observed all its Obligations under the Loan Documents, and 

[select one:] 
  

 Page 11 – SEVENTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT 

 [to the best knowledge of the undersigned, during such fiscal period the Borrower
performed and observed each covenant and condition of the Loan Documents applicable to it, and no Default has occurred and is continuing.] 

—or— 

[to the best knowledge of the undersigned, during such fiscal period the following covenants or conditions have not been performed or
observed and the following is a list of each such Default and its nature and status:] 
 4. The representations and
warranties of (i) the Borrower contained in Article V of the Agreement and (ii) each Loan Party contained in each other Loan Document or in any document furnished at any time under or in connection with the Loan Documents, are true
and correct on and as of the date hereof, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct as of such earlier date, and except that for purposes of this
Compliance Certificate, the representations and warranties contained in subsections (a) and (b) of Section 5.05 of the Agreement shall be deemed to refer to the most recent statements furnished pursuant to clauses (a) and
(b), respectively, of Section 6.01 of the Agreement, including the statements in connection with which this Compliance Certificate is delivered. 

5. The financial covenant analyses and information set forth on Schedules 1 and 2 attached hereto are true and accurate on
and as of the date of this Certificate. 
 IN WITNESS WHEREOF, the undersigned has executed this Certificate as of
                            ,
                    . 
  

			
	NORTHWEST PIPE COMPANY
		
	By:	 	  

	Name:	 	  

	Title:	 	  

 

 Page 12 – SEVENTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT 

 For the Quarter/Year ended
                            (“Statement Date”) 

SCHEDULE 1 

to the Compliance Certificate 

($ in 000’s) 
  

									
	I.	  	Section 6.17(a) –Consolidated Fixed Charge Coverage Ratio.
				
		  	A.	  	Consolidated EBITDA for the four consecutive quarters
 ending
on Statement Date (“Subject Period”)
	  	
					
		  		  	1.	  	Consolidated Net Income for Subject Period:	  	$                    
					
		  		  	2.	  	plus Consolidated Interest Charges for Subject Period:	  	$                    
					
		  		  	3.	  	plus consolidated income taxes for Subject Period:	  	$                    
					
		  		  	4.	  	plus consolidated depreciation and amortization for Subject Period:	  	$                    
					
		  		  	5.	  	plus other expenses in the Subject Period reducing Consolidated Net Income for such period which did not or will not require a cash settlement in such period or any future
period:	  	$                    
					
		  		  	6.	  	minus all items increasing Consolidated Net Income for the Subject Period which did not or will not result in a cash settlement in such period or any future period, including any
gain from the sale of assets:	  	$                    
					
		  		  	7.	  	Consolidated EBITDA (total of lines 1-6):	  	$                    
				
		  	B.	  	Consolidated Maintenance Capital Expenditures for the Subject Period:	  	$                    
				
		  	C.	  	Consolidated Fixed Charges	  	
					
		  		  	1.	  	Consolidated Interest Charges for Subject Period:	  	$                    
					
		  		  	2.	  	plus the consolidated current maturities of long-term debt as of Statement Date:	  	$                    
					
		  		  	3.	  	plus the consolidated current maturities of capital leases as of Statement Date:	  	$                    
					
		  		  	4.	  	Consolidated Fixed Charges (total of lines 1-3):	  	$                    

 

 Page 13 – SEVENTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT 

											
				
		  	C.	  	 Ratio ((Line I.A.7 less the greater of $4,000,000 or

Line I.B) divided by Line I.C.4):
	  	                 to 1.00
		
	Minimum Required:	  	1.10 to 1.00 for fiscal quarter ending June 30, 2011
					
		  		  		  		  	1.25 to 1.00 for each fiscal quarter thereafter
			
	II.	  	Section 6.17(b) – Consolidated Senior Leverage Ratio.	  	
				
		  	A.	  	Consolidated Senior Funded Debt as of Statement Date	  	
					
		  		  	1.	  	Consolidated Total Debt as of Statement Date as defined:	  	$                    
					
		  		  	2.	  	less Subordinated Debt as of Statement Date as defined:	  	$                    
					
		  		  	3.	  	Consolidated Senior Funded Debt as of Statement Date (line 1 less line 2):	  	$                    
				
		  	B.	  	Consolidated EBITDA for the Subject Period	  	
					
		  		  	1.	  	line I.A.7 above:	  	$                    
				
		  	C.	  	Ratio (Line II.A.3 divided by Line II.B.1):	  	                 to 1.00
		
	Maximum Permitted:	  	12.75 to 1.00 for fiscal quarter ending September 30, 2010
					
		  		  		  		  	7.50 to 1.00 for fiscal quarter ending December 31, 2010
					
		  		  		  		  	6.25 to 1.00 for fiscal quarter ending March 31, 2011
					
		  		  		  		  	4.75 to 1.00 for fiscal quarter ending June 30, 2011
					
		  		  		  		  	4.00 to 1.00 for fiscal quarter ending September 30, 2011
					
		  		  		  		  	3.50 to 1.00 for each fiscal quarter thereafter
			
	III.	  	Section 6.17(c) – Consolidated Total Leverage Ratio	  	
				
		  	A.	  	Consolidated Total Debt at Statement Date	  	
						
		  		  	1.	  	as defined:	  		  	$                    
				
		  	B.	  	Consolidated EBITDA for Subject Period	  	
					
		  		  	1.	  	line 1.A.7 above:	  	$                    
				
		  	C.	  	Ratio (Line III.A.1 divided by Line III.B.1):	  	                 to 1.00

 

 Page 14 – SEVENTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT 

											
			
		  	Maximum Permitted:	  	12.75 to 1.00 for fiscal quarter ending September 30, 2010
					
		  		  		  		  	7.50 to 1.00 for fiscal quarter ending December 31, 2010
					
		  		  		  		  	6.25 to 1.00 for fiscal quarter ending March 31, 2011
					
		  		  		  		  	4.75 to 1.00 for fiscal quarter ending June 30, 2011
					
		  		  		  		  	4.00 to 1.00 for each fiscal quarter thereafter
			
	IV.	  	Section 6.17(d) –Consolidated Tangible Net Worth.	  	
				
		  	A.	  	Consolidated Tangible Net Worth at Statement Date:	  	
					
		  		  	1.	  	total Shareholders’ Equity for Borrower and its Subsidiaries at Statement Date:	  	$                    
					
		  		  	2.	  	less Intangible Assets of Borrower and its Subsidiaries at Statement Date:	  	$                    
					
		  		  	3.	  	Tangible Net Worth (Line IV.A.1 less Line IV.A.2):	  	$                    
				
		  	B.	  	Consolidated Tangible Net Worth as of June 30, 2010:	  	
					
		  		  	1.	  	total Shareholders’ Equity for Borrower and its Subsidiaries at June 30, 2010:	  	$                    
					
		  		  	2.	  	less Intangible Assets of Borrower and its Subsidiaries at June 30, 2010:	  	$                    
					
		  		  	3.	  	Tangible Net Worth (Line IV.B.1 less Line IV.B.2):	  	$                    
				
		  	C.	  	Minimum Required Consolidated Tangible Net Worth:	  	
					
		  		  	1.	  	the greater of $193,000,000 or 85% of Line IV.B.3:	  	$                    
					
		  		  	2.	  	plus the sum of 50% of Consolidated Net Income (without subtracting losses) earned in each quarterly accounting period ended after June 30, 2010:	  	$                    
					
		  		  	3.	  	plus the net proceeds from any equity securities issued by Borrower after June 30, 2010:	  	$                    

 

 Page 15 – SEVENTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT 

									
					
		  		  	4.	  	 Minimum Required Consolidated Tangible

Net Worth (Line IV.C.1 plus Line IV.C.2
 plus
Line IV.C.3):
	  	$                    
				
		  	D.	  	Excess (deficiency) for covenant compliance	  	
				
		  		  	(Line IV.A.3 less IV.C.4):	  	$                    
			
	V.	  	Section 6.17(e) –Asset Coverage Ratio.	  	
				
		  	A.	  	Eligible Assets at Statement Date	  	
					
		  		  	1.	  	85% of Eligible Accounts Receivable at Statement Date:	  	$                    
					
		  		  	2.	  	plus 60% of Eligible Inventory at Statement Date:	  	$                    
					
		  		  	3.	  	plus 30% of Eligible Property, Plant and Equipment at Statement Date:	  	$                    
					
		  		  	4.	  	Total Eligible Assets at Statement Date:	  	$                    
				
		  	B.	  	Consolidated Total Debt at Statement Date	  	$                    
					
		  		  	1.	  	as defined:	  	$                    
				
		  	C.	  	Ratio (Line V.A.4 ÷ Line V.B.1):	  	                 to 1.00
			
		  	Minimum Required:	  	1.00 to 1.00
			
	VI.	  	Section 6.17(f) - Minimum Consolidated EBITDA	  	
			
		  	A.	  	 Consolidated EBITDA for the one, two or three consecutive quarters

ending on Statement Date, as applicable (“Cumulative Period”)

					
		  		  	1.	  	Consolidated Net Income for Cumulative Period:	  	$                    
					
		  		  	2.	  	plus Consolidated Interest Charges for Cumulative Period:	  	$                    
					
		  		  	3.	  	plus consolidated income taxes for Cumulative Period:	  	$                    
					
		  		  	4.	  	plus consolidated depreciation and amortization for Cumulative Period:	  	$                    
					
		  		  	5.	  	plus other expenses in such Cumulative Period reducing Consolidated Net Income for such period which did not or will not require a cash settlement in such period or any
future period:	  	$                    

  

 Page 16 – SEVENTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT 

										
					
		  		  	6.	  	minus all items increasing Consolidated Net Income for such Cumulative Period which did not or will not result in a cash settlement in such period or any future period,
including any gain from the sale of assets:	  	$                    	  
					
		  		  	7.	  	Consolidated EBITDA (total of lines 1-6):	  	$                    	  
			
		  	Minimum Required:	  	        $3,600,000 for the fiscal quarter ending on September 30, 2010	  
				
		  		  		  	 $9,400,000 for the cumulative two fiscal quarters ending

on December 31, 2010
	   

  

				
		  		  		  	 $18,500,000 for the cumulative three fiscal quarters ending

on March 31, 2011
	   

  

			
	VII.	  	Section 6.17(g) – Rental and Operating Lease Expense	  		
				
		  	A.	  	Rental and operating lease expense for the four consecutive fiscal quarters ending on the Statement Date:	  	$                    	  
				
		  	B.	  	Total revenue for the four consecutive fiscal quarters ending on the Statement Date:	  	$                    	  
				
		  	C.	  	Ratio (Line VII.A ÷ Line VII.B)	  	                    	  
			
		  	Maximum Permitted:	  	6.00	% 

  

 Page 17 – SEVENTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00179-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00179-of-00352.parquet"}]]