Document:

First Amendment to Consignment Agreement dated April 7, 2006

 Exhibit 10.10 
 FIRST AMENDMENT TO CONSIGNMENT AGREEMENT 
 THIS FIRST AMENDMENT TO CONSIGNMENT AGREEMENT is made as of the 7th day of April, 2006, by and among BANK OF AMERICA, N.A. (as
assignee of Fleet Precious Metals Inc.), a national banking association, with offices at 111 Westminster Street, Providence, Rhode Island 02903 (the “Consignor”), AGY HOLDING CORP., a Delaware corporation
(“Holding”), AGY AIKEN LLC, a Delaware limited liability company (“Aiken”), and AGY HUNTINGDON LLC, a Delaware limited liability company
(“Huntingdon”: Holding, Aiken and Huntingdon are herein collectively referred to herein as “Customer”). 
 WITNESSETH THAT: 
 WHEREAS, Fleet Precious Metals Inc., a Rhode Island corporation
(“FPM”) and the Customer entered into a Consignment Agreement dated as of August 25, 2005 (the “Agreement”), pursuant to which, inter alia, FPM agreed to consign
Precious Metal to the Customer from time to time; and 
 WHEREAS, FPM assigned to the Consignor all of its right, title and interest in,
under and to the Agreement; and 
 WHEREAS, pursuant to an Agreement of Merger dated as of February 23, 2006 (the
“Merger Agreement”) by and among Holding, KAGY Holding Company, Inc., a Delaware corporation (“KAGY Holding”), and KAGY Acquisition Corp., a Delaware
corporation (“KAGY Acquisition”), KAGY Acquisition has merged into Holding and Holding is the surviving corporation after giving effect to such merger. 
 NOW, THEREFORE, for value received, and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties
hereto hereby agree as follows: 
  

	 	1.	Capitalized Terms. 

 Capitalized terms used
in this Amendment without definition herein shall have the meanings given to such terms in the Agreement. 
  

	 	2.	Amended Definitions. 

 (a) All references in
the Agreement to the “Consignor” are hereby amended to mean and refer to Bank of America, N.A., as assignee of Fleet Precious Metals Inc. 
 (b) The following new definitions are hereby added to Section 1.01 of the Agreement in the appropriate alphabetical order: 
 “First Lien Administrative Agent” means UBS AG, Stamford Branch, as Agent for the First Lien Lenders as defined in the First Lien Credit Agreement.” 
 “First Lien Credit Agreement” means that certain Credit Agreement dated as of October 25, 2006, between Holding
and the other Borrower Parties, certain First Lien Lenders described therein, and the First Lien Administrative Agent, as amended, restated, supplemented, extended, renewed, replaced or otherwise modified from time to time.” 

 “Second Lien Administrative Agent” means UBS AG,
Stamford Branch, as Agent for the Second Lien Lenders as defined in the Second Lien Credit Agreement.” 
 “Second Lien Credit Agreement” means that certain Credit Agreement dated as of October 25, 2006, between Holding and the other Borrower Parties, certain Second Lien Lenders described therein, and the
Second Lien Administrative Agent, as amended, restated, supplemented, extended, renewed, replaced or otherwise modified from time to time.” 
 (c) The definition of the term “Intercreditor Agreement” as set forth in Section 1.01 of the Agreement is hereby amended to read as follows: 
 “Intercreditor Agreement” means that certain Intercreditor Agreement dated as of October 25, 2006 by
and among Consignor, Customer, and UBS AG, STAMFORD BRANCH, as agent for the First Lien Lenders and UBS AG, STAMFORD BRANCH, as agent for the Second Lien Lenders, as the same may be hereafter amended, restated, supplemented,
extended, renewed, replaced or otherwise modified from time to time.” 
 (d) The definition of “Permitted
Liens” in Section 1.01 of the Agreement is hereby amended to read in its entirety as follows: 
 “Permitted Liens” means (a) Liens in the Collateral in favor of the First Lien Administrative Agent and the Second Lien Administrative Agent, subject to the terms of the Intercreditor Agreement;
(b) Liens in favor of Consignor or the Bank; (c) Liens for taxes, fees, assessments, or other governmental charges or levies on the property of Customer if such Liens are being contested in good faith and by appropriate proceedings
diligently pursued, adequate reserves in accordance with GAAP have been provided on the books of Customer, and a stay of enforcement of such Lien is in effect; (d) Liens imposed by law, such as carrier’s, warehousemen’s, and
mechanic’s Liens and other similar Liens arising in the ordinary course of business which secure payment of obligations not more than ten days past due or which are being contested in good faith by appropriate proceedings diligently pursued and
for which adequate reserves shall have been provided on Customer’s books; (e) statutory Liens in favor of landlords or real property leased by Customer; provided that, Customer is current with respect to payment of all rent and other
material amounts due to such landlord under any lease of such real property; (f) Liens arising out of pledges or deposits under worker’s compensation laws, unemployment insurance, old age pensions, or other social security or retirement
benefits, or similar legislation or to secure the performance of bids, tenders, or contracts (other than for the repayment of Indebtedness) or to secure indemnity, performance, or other similar bonds for the performance of bids, tenders, or
contracts (other than for the repayment of Indebtedness) or to secure statutory obligations (other than liens arising under ERISA or Environmental Laws) or surety or appeal bonds, or to secure indemnity, performance, or other similar bonds; and
(g) unperfected Liens to the extent permitted by Section 7.14 hereof.” 
  

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	 	3.	Article 7 Amendments. 

 (a)
Section 7.06(a) of the Agreement is hereby amended to read in its entirety as follows: 
 “(a) within one
hundred twenty (120) days after the end of each Fiscal Year, audited consolidated balance sheet of Holding and its Subsidiaries as of the end of the Fiscal Year, and related statements of income and retained earnings and cash flow for Holding
and its Subsidiaries for such Fiscal Year, prepared and certified by Grant Thornton LLP or another independent certified public accountant selected by Holding and reasonably acceptable to Consignor, as well as any and all prior comparisons to prior
Fiscal Year;...” 
 (b) Section 7.06(d) of the Agreement is hereby amended to read in its entirety as follows: 

“(d) at the time of delivery of the financial statements described in paragraphs (a) and (b) of this
Section 7.06, a certificate signed by Holding’s chief financial officer certifying that as of the date of such financial statements no default or event of default exists under or as defined in the First Lien Credit Agreement or the
Second Lien Credit Agreement;. .” 
  

	 	4.	Article 8 Amendments. 

 Section 8.01(f) of the Agreement is hereby amended to read in its entirety as follows: 
 “(f)
default shall occur with respect to the First Lien Credit Agreement or the Second Lien Credit Agreement, or any replacement or refinancing thereof, if the effect of such default is to accelerate the maturity of such indebtedness or to permit the
holder thereof to cause such indebtedness to become due prior to the stated maturity thereof, or if any indebtedness of Customer thereunder is not paid, when due and payable, whether at the due date thereof or a date fixed for prepayment or
otherwise; or . .” 
  

	 	5.	Representations and Warranties of the Company. 

 To induce the Consignor to enter into this Amendment, the Customer hereby (a) represents and warrants to the Consignor that on and as of the date hereof, the Customer is not in default of any covenant set forth in the Agreement, as
amended hereby, (b) represents and warrants to the Consignor that pursuant to the Merger Agreement, KAGY Acquisition has merged into Holding (the “Merger”) and Holding is the surviving corporation after giving effect to
the Merger, (c) represents and warrants that the Customer has paid in full all indebtedness and obligations evidenced by or incurred pursuant to the Exit Finance Agreement and the Term Loan Agreement, and (d) except as disclosed in writing
to the Consignor contemporaneously with the Customer’s execution hereof, restates as of the date hereof and incorporates herein by reference all representations and warranties set forth in the Agreement, except that for the purposes of such
incorporation by reference, the term “this Agreement” shall be amended to read “this Amendment.” 
  

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	 	6.	Applicable Law. 

 This Amendment and the
rights and obligations of the parties hereunder shall be construed and interpreted in accordance with the laws of the State of New York (excluding the laws applicable to conflicts or choice of law). 
  

	 	7.	Integration. 

 This Amendment is intended by
the parties as the final, complete and exclusive statement of the amendment intended hereby. The Agreement, as amended hereby, may not be amended or modified except by a written instrument describing such amendment or modification, executed by the
Customer and the Consignor. 
  

	 	8.	Expenses. 

 The Customer covenants and agrees
to pay all out-of-pocket expenses, costs and charges incurred by the Consignor (including reasonable fees and disbursements of counsel) in connection with the preparation and implementation of this Amendment and the Intercreditor Agreement.

  

	 	9.	Reaffirmation. 

 Except as amended hereby,
the Agreement shall remain in full force and effect and is in all respects hereby ratified and affirmed. 
  

	 	10.	Counterparts. 

 This Amendment may be
executed by the parties hereto in any number of separate counterparts, each of which shall be deemed to be an original and all of which, taken together, shall constitute one and the same agreement. 
  

	 	11.	Effectiveness. 

 This Amendment shall become
effective on the date when all of the following conditions have been satisfied: 
 (a) the merger described in Section 5 of this
Amendment has been consummated; 
 (b) the Customer has closed the First Lien Credit Agreement and the Second Lien Credit Agreement; and

 (c) the Customer, the First Lien Administrative Agent, the Second Lien Administrative Agent and the Consignor have executed and delivered
an Intercreditor Agreement in form and substance acceptable to the Consignor. 
  

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 [The next page is the signature page] 
  

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

			
	 AGY HOLDING CORP.

		
	 By:
	 	 /s/ Douglas Mattscheck

	 Name:
	 	Douglas Mattscheck
	 Title:
	 	President
	
	 AGY AIKEN LLC

	 By: AGY Holding Corp., its sole member

		
	 By:
	 	 /s/ Douglas Mattscheck

	 Name:
	 	Douglas Mattscheck
	 Title:
	 	President
	
	 AGY HUNTINGDON LLC

	 By: AGY Holding Corp., its sole member

		
	 By:
	 	 /s/ Douglas Mattscheck

	 Name:
	 	Douglas Mattscheck
	 Title:
	 	President
	
	 BANK OF AMERICA, N.A.

		
	 By:
	 	 /s/ David R. Vega

		 	 David R. Vega

		 	 Senior Vice PresidentSecond Amendment to Consignment Agreement dated April 21, 2006

 Exhibit 10.11 
 SECOND AMENDMENT TO CONSIGNMENT AGREEMENT 
 THIS SECOND AMENDMENT TO CONSIGNMENT AGREEMENT (this “Amendment”) is made as of the 21st day of April, 2006, by and
among BANK OF AMERICA, N.A., a national banking association, with offices at 111 Westminster Street, Providence, Rhode Island 02903 (“Consignor”), AGY HOLDING CORP., a Delaware corporation
(“Holding”), AGY AIKEN LLC, a Delaware limited liability company (“Aiken”), and AGY HUNTINGDON LLC, a Delaware limited liability company (“Huntingdon”;
Holding, Aiken and Huntingdon are herein collectively referred to herein as “Customer”). 
 WITNESSETH THAT:

 WHEREAS, Consignor and Customer are parties to a certain Consignment Agreement dated as of August 25, 2005, as amended by a First
Amendment to Consignment Agreement dated as of April 7, 2006, (as amended, the “Consignment Agreement”), pursuant to which Consignor agreed to consign precious metals to Customer for use in Customer’s manufacturing
operations; and 
 WHEREAS, the parties hereto desire to amend certain provisions of the Consignment Agreement as hereinafter provided.

 NOW, THEREFORE, for value received, and for other good and valuable consideration, the receipt and adequacy of which are hereby
acknowledged, the parties hereto hereby agree as follows: 
  

	 	1.	Capitalized Terms. 

 Capitalized terms used
in this Amendment without definition herein shall have the meanings given to such terms in the Consignment Agreement. 
  

	 	2.	Amended Definitions. 

 The definitions of the
terms “First Lien Administrative Agent”, “First Lien Credit Agreement”, “Second Lien Administrative Agent” and “Second Lien Credit Agreement” are hereby
amended to read in their entirety, respectively, as follows: 
 “First Lien Administrative Agent”
means UBS AG, Stamford Branch, as Administrative Agent for the Lenders as defined in the First Lien Credit Agreement.” 
 “First Lien Credit Agreement” means that certain Credit Agreement dated as of April 7, 2006, between Holding (as successor to KAGY Acquisition Corp.), as Borrower, KAGY Holding Company, Inc. and other Guarantors
party thereto, as Guarantors, certain Lenders party thereto, UBS Securities LLC, as Sole Lead Arranger, Sole Bookmanager, Documentation Agent and Syndication Agent, UBS AG, Stamford Branch, as Issuing Bank, Administrative Agent and Collateral Agent,
and UBS Loan Finance LLC, as Swingline Lender, as amended, restated, supplemented, extended, renewed, replaced or otherwise modified from time to time.” 
  

 “Second Lien Administrative Agent” means UBS AG,
Stamford Branch, as Agent for the Lenders as defined in the Second Lien Credit Agreement.” 
 “Second
Lien Credit Agreement” means that certain Credit Agreement dated as of April 7, 2006, between Holding (as successor to KAGY Acquisition Corp.), as Borrower, KAGY Holding Company, Inc. and other Guarantors party thereto, as
Guarantors, certain Lenders party thereto, UBS Securities LLC, as Sole Lead Arranger, Sole Bookmanager, Documentation Agent and Syndication Agent, and UBS AG, Stamford Branch, as Administrative Agent and Collateral Agent, as amended, restated,
supplemented, extended, renewed, replaced or otherwise modified from time to time.” 
 (b) The following new definitions are hereby
added to Section 1.01 of the Consignment Agreement in the appropriate alphabetical order: 
 ““Total Leverage Ratio” means “Total Leverage Ratio” of Holding and its Subsidiaries as defined in and determined in accordance with the First Lien Credit Agreement as originally executed
and dated as of April 7, 2006, and without giving effect to any amendments thereto arising after April 7, 2006, except as agreed to by Consignor in writing.” 
 “Second Amendment Fee Letter” means that certain Fee Letter dated as of April 17, 2006, by and
between the Consignor and Customer.” 
 (c) The definition of the term “Applicable Margin” as set forth in
Section 1.01 of the Consignment Agreement is hereby amended to read as follows: 
 ““Applicable Margin” shall be (a) 2.00% until adjusted in accordance with the next clause (b); and (b) from and after the date which is five (5) Business Days after Consignor’s
receipt of Customer’s financial statements and compliance certificate for each fiscal period pursuant to Section 7.06(a) and 7.06(b) hereof, as applicable, commencing with the fiscal quarter ending March 31, 2006, the
Applicable Margin will be determined quarterly based on Customer’s Total Leverage Ratio (as determined and evidenced by Customer’s most recent quarterly financial statements and quarterly compliance certificate delivered to Consignor) as
follows: 
  

			
	 Total Leverage Ratio
	  	Applicable Margin
	> or = 3.50x	  	2.00%
	> or = 3.00x but < 3.50x	  	1.75%
	< 3.00x	  	1.50%

 Each compliance certificate delivered by Customer pursuant to Section 7.06(d) hereof
shall be accompanied by Customer’s calculation of its Total Leverage Ratio as of the last day of the fiscal period covered by such financial statements and compliance certificate and shall include Customer’s request for the Applicable
Margin based thereon. No downward adjustment in the Applicable Margin shall be permitted following the occurrence and during the continuance of an Event of Default.” 
  

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 (c) The definition of the term “Consignment Limit” as set forth in
Section 1.01 of the Consignment Agreement is hereby amended to read as follows: 
 ““Consignment Limit” means (a) the lesser of (i) Forty Million Dollars ($40,000,000), and (ii) the value (as determined in accordance with Section 2.02) of 40,000 ounces
of Platinum; or (b) such other limit as Consignor and Customer may agree upon from time to time as evidenced by an amendment in substantially the form of Exhibit C attached hereto and made a part hereof.” 
  

	 	3.	Representations and Warranties. 

 To induce
Consignor to enter into this Amendment, Customer hereby represents and warrants to Consignor that (a) on and as of the date hereof, Customer is not in default of any covenant set forth in the Agreement, as amended hereby, and (b) except as
disclosed in writing to Consignor contemporaneously with Customer’s execution hereof, restates as of the date hereof and incorporates herein by reference all representations and warranties set forth in the Agreement, except that for the
purposes of such incorporation by reference, the term “this Agreement” shall be amended to read “this Amendment.” 
  

	 	4.	Applicable Law. 

 This Amendment and the
rights and obligations of the parties hereunder shall be construed and interpreted in accordance with the laws of the State of New York (excluding the laws applicable to conflicts or choice of law). 
  

	 	5.	Integration. 

 This Amendment is intended by
the parties as the final, complete and exclusive statement of the amendment intended hereby. The Agreement, as amended hereby, may not be amended or modified except by a written instrument describing such amendment or modification, executed by
Customer and Consignor. 
  

	 	6.	Expenses. 

 As a condition precedent to the
effectiveness of this Amendment, Customer shall pay to Consignor the fees set forth in the Second Amendment Fee Letter in accordance with the provisions of the Second Amendment Fee Letter. Customer further covenants and agrees to pay all
out-of-pocket expenses, costs and charges incurred by Consignor (including reasonable fees and disbursements of counsel) in connection with the preparation and implementation of this Amendment. 
  

	 	7.	Reaffirmation. 

 Except as amended hereby,
the Agreement shall remain in full force and effect and is in all respects hereby ratified and affirmed. 
  

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	 	8.	Counterparts. 

 This Amendment may be
executed by the parties hereto in any number of separate counterparts, each of which shall be deemed to be an original and all of which, taken together, shall constitute one and the same agreement. 
 [The next page is the signature page] 
  

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

			
	AGY HOLDING CORP.
		
	By:	 	 /s/ Douglas J. Mattscheck

	Name:	 	Douglas J. Mattscheck
	Title:	 	President and CEO
	
	AGY AIKEN LLC
	By: AGY Holding Corp., its sole member
		
	By:	 	 /s/ Douglas J. Mattscheck

	Name:	 	Douglas J. Mattscheck
	Title:	 	President and CEO
	
	AGY HUNTINGDON LLC
	By: AGY Holding Corp., its sole member
		
	By:	 	 /s/ Douglas J. Mattscheck

	Name:	 	Douglas J. Mattscheck
	Title:	 	President and CEO
	
	BANK OF AMERICA, N.A.
		
	By:	 	 /s/ David R. Vega

		 	David R. Vega
		 	Senior Vice President

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