Document:

Exhibit 10.8

 

	
David M. Cordani

President and CEO 

 
    	
 
    	
 

    
	
January 30, 2017
    	
 
    	
 
    
	
Christopher J.   Hocevar
    	
 
    	
Routing W2SLT

900 Cottage Grove Road

Bloomfield, CT  06152

Telephone  860.226.7482

Facsimile  860.226.3099
    

 

Dear Chris:

 

I am pleased to confirm your new compensation package as you assume the position of President, Strategy, Segments and Solutions to be effective upon assumption of your new responsibilities.

 

§                  Base Salary – will increase to a pre-tax annualized rate of $550,000.  This amount will be reviewed annually based on your performance and pay position relative to the competitive market.

 

§                  Annual Incentive – your annual target will increase to $500,000 for the 2017 performance year.  As you are aware, annual incentive is typically paid in the first quarter of the year following the performance period and is not considered earned until the date paid.

 

§                  Long-Term Incentive – your annual long-term opportunity  will become $1,250,000 and will continue to consist of the following two components:

 

–                 Stock Options – grants are typically awarded in the first quarter each year and may vary from 0 to 200% of target based on individual performance and potential.  Options typically vest over a 3 year period and expire no later than 10 years after grant.  The 2017 annual target is $625,000.

 

–                 Strategic Performance Shares (SPS) – grants are typically awarded in the first quarter of each year and may vary from 0 to 200% of target based on individual performance and potential.  SPS awards are typically paid or vested three years after the beginning of the performance period.  Awards are not considered earned until the date paid or vested.  The 2017 annual target is $625,000.

 

§                  Stock Ownership Guidelines – To align management and shareholder interests Cigna executives are subject to stock ownership guidelines. The stock ownership guideline for your position as an Executive Officer will become 3 times your new base salary.

 

	
NEW TOTAL ANNUAL COMPENSATION OPPORTUNITY:
    	
 
    	
$2,300,000
    

 

The changes above have no impact on previously awarded bonuses, stock options or SPS grants.  The compensation program elements – annual incentive, stock options and strategic performance shares are those of our current program and may be subject to modification or enhancement by the Board of Directors.  As an executive of the company, your compensation will be subject to any future program changes.

 

Chris, I look forward to continuing to partner with you.

 

 

Sincerely,

 

 

	
David M. Cordani
    	
 
    
	
 
    	
 
    	
 
    
	
cc:
    	
K. Gorodetzer
    	
 
    
	
 
    	
J. Murabitokop-ex48_94.htm

Exhibit 4.8

 

 FIRST SUPPLEMENTAL INDENTURE

FIRST SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”), dated as of March 7, 2018, among M.A. Energy Resources, LLC, a Kansas limited liability company (the “Guaranteeing Subsidiary”), a subsidiary of Koppers Inc. (or its permitted successor), a Pennsylvania corporation (the “Issuer”), the Issuer, Koppers Holdings Inc., as a Guarantor, the other Subsidiary Guarantors (as defined in the Indenture referred to herein) and Wells Fargo Bank, National Association, as trustee under the Indenture referred to below (the “Trustee”).

W I T N E S S E T H

WHEREAS, the Issuer has heretofore executed and delivered to the Trustee an indenture (the “Indenture”), dated as of January 25, 2017 providing for the issuance of 6.00% Senior Notes due 2025 (the “Notes”);

WHEREAS, the Indenture provides that under certain circumstances the Guaranteeing Subsidiary shall execute and deliver to the Trustee a supplemental indenture pursuant to which the Guaranteeing Subsidiary shall unconditionally guarantee all of the Issuer’s Obligations under the Notes and the Indenture on the terms and conditions set forth herein (the “Guarantee”); and

WHEREAS, pursuant to Section 9.01 of the Indenture, the Trustee is authorized to execute and deliver this Supplemental Indenture.

NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged, the Guaranteeing Subsidiary and the Trustee mutually covenant and agree for the equal and ratable benefit of the Holders as follows:

1.CAPITALIZED TERMS.  Capitalized terms used herein without definition shall have the meanings assigned to them in the Indenture.

2.AGREEMENT TO GUARANTEE.  The Guaranteeing Subsidiary hereby agrees to provide an unconditional Guarantee on the terms and subject to the conditions set forth in the Guarantee and in the Indenture including but not limited to Article 10 thereof.

4.NO RECOURSE AGAINST OTHERS.  No director, officer, employee, incorporator or stockholder of the Issuer or any Guarantor, as such, will have any liability for any obligations of the Issuer or the Guarantors under the Notes, this Indenture, the Guarantees or for any claim based on, in respect of, or by reason of, such obligations or their creation.  Each Holder by accepting a Note waives and releases all such liability.  The waiver and release are part of the consideration for issuance of the Notes.  The waiver may not be effective to waive liabilities under the federal securities laws.

5.NEW YORK LAW TO GOVERN.  THE INTERNAL LAW OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO CONSTRUE THIS SUPPLEMENTAL INDENTURE WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY.

301487927_4 

 

6.COUNTERPARTS.  The parties may sign any number of copies of this Supplemental Indenture.  Each signed copy shall be an original, but all of them together represent the same agreement.

7.EFFECT OF HEADINGS.  The Section headings herein are for convenience only and shall not affect the construction hereof.

8.THE TRUSTEE.  The Trustee shall not be responsible in any manner whatsoever for or in respect of the validity or sufficiency of this Supplemental Indenture or for or in respect of the recitals contained herein, all of which recitals are made solely by the Guaranteeing Subsidiary and the Issuer.

 

Exhibit 4.8

IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly executed and attested, all as of the date first above written.

Dated:  March 7, 2018

M.A. ENERGY RESOURCES, LLC

 

By:/s/ Louann E. Tronsberg-Deihle
Name: Louann E. Tronsberg-Deihle
Title: Treasurer

KOPPERS INC. 

By:/s/ Louann E. Tronsberg-Deihle
Name: Louann E. Tronsberg-Deihle
Title: Treasurer

KOPPERS HOLDINGS INC. 

By:/s/ Louann E. Tronsberg-Deihle
Name: Louann E. Tronsberg-Deihle
Title: Treasurer

Subsidiary Guarantors:

KOPPERS DELAWARE, INC.,
a Delaware corporation

By:/s/ Louann E. Tronsberg-Deihle
Name: Louann E. Tronsberg-Deihle
Title: Treasurer

KOPPERS CONCRETE PRODUCTS, INC.,
a Delaware corporation

By:/s/ Louann E. Tronsberg-Deihle
Name: Louann E. Tronsberg-Deihle
Title: Treasurer

 

[Koppers - Signature Page to First Supplemental Indenture]

 

 

CONCRETE PARTNERS, INC.,
a Delaware corporation

By:/s/ Louann E. Tronsberg-Deihle
Name: Louann E. Tronsberg-Deihle
Title: Treasurer

KOPPERS WORLD-WIDE VENTURES CORPORATION,
a Delaware corporation

By:/s/ Louann E. Tronsberg-Deihle
Name: Louann E. Tronsberg-Deihle
Title: Treasurer

KOPPERS ASIA LLC,
a Delaware limited liability company

By:/s/ Louann E. Tronsberg-Deihle
Name: Louann E. Tronsberg-Deihle
Title: Treasurer

KOPPERS VENTURES INC.,
a Delaware corporation

By:/s/ Louann E. Tronsberg-Deihle
Name: Louann E. Tronsberg-Deihle
Title: Treasurer and Assistant Secretary

KOPPERS PERFORMANCE CHEMICALS INC.,
a New York corporation

By:/s/ Louann E. Tronsberg-Deihle
Name: Louann E. Tronsberg-Deihle
Title: Treasurer

 

[Koppers - Signature Page to First Supplemental Indenture]

 

 

 

KOPPERS RAILROAD STRUCTURES INC.,
a Delaware corporation

By:/s/ Louann E. Tronsberg-Deihle
Name: Louann E. Tronsberg-Deihle
Title: Treasurer

KOPPERS NZ LLC,
a New York limited liability company

By:/s/ Louann E. Tronsberg-Deihle
Name: Louann E. Tronsberg-Deihle
Title: Authorized Person

KOPPERS-NEVADA LIMITED-LIABILITY COMPANY,
a Nevada limited-liability company

By:/s/ Louann E. Tronsberg-Deihle
Name: Louann E. Tronsberg-Deihle
Title: Authorized Person

WOOD PROTECTION MANAGEMENT LLC,
a Nevada limited-liability company

By:/s/ Louann E. Tronsberg-Deihle
Name: Louann E. Tronsberg-Deihle
Title: Authorized Person

WOOD PROTECTION LP,
a Texas limited partnership

By: WOOD PROTECTION MANAGEMENT     LLC, 
its General Partner

By:  /s/ Louann E. Tronsberg-Deihle
Name: Louann E. Tronsberg-Deihle
Title: Authorized Person

[Koppers - Signature Page to First Supplemental Indenture]

 

 

 

WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee 

By:/s/ Tina Gonzalez
Authorized Signatory

 

 

 

[Koppers - Signature Page to First Supplemental Indenture]kop-ex49_93.htm

Exhibit 4.9

 

 

 SECOND SUPPLEMENTAL INDENTURE

SECOND SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”), dated as of April 17, 2018, among each of the following entities:

		
	
ENTITY
	
STATE OF FORMATION

 

	
Cox Industries, Inc.
	
South Carolina

	
Cox Wood Preserving Company
	
South Carolina

	
Structural Woods Preserving Co.
	
North Carolina

	
Cove City Wood Preserving, Inc.
	
North Carolina

	
Carolina Pole, Inc.
	
South Carolina

	
North-South Wood Preserving Company, Inc.
	
South Carolina

	
Carolina Pole Leland, Inc.
	
North Carolina

	
Leland Land LLC
	
North Carolina

	
Cox Wood of Alabama, LLC
	
Alabama

	
Cox Wood of Virginia, LLC
	
Virginia

	
National Wood Sourcing, LLC
	
South Carolina

	
Sustainable Management Systems, LLC
	
South Carolina

	
Atlantic Pole-Georgia, LLC
	
South Carolina

	
Atlantic Pole-Virginia, LLC
	
South Carolina

	
Cox Recovery Services, LLC
	
South Carolina

	
Ruby’s Corner, LLC
	
South Carolina

	
Sweetwater Wood Holdings, LLC
	
South Carolina

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(each a “Guaranteeing Subsidiary”), and each a subsidiary of Koppers Inc. (or its permitted successor), a Pennsylvania corporation (the “Issuer”), the Issuer, Koppers Holdings Inc., as a Guarantor, the other Subsidiary Guarantors (as defined in the Indenture referred to herein) and Wells Fargo Bank, National Association, as trustee under the Indenture referred to below (the “Trustee”).

W I T N E S S E T H

WHEREAS, the Issuer has heretofore executed and delivered to the Trustee an indenture (the “Indenture”), dated as of January 25, 2017 providing for the issuance of 6.00% Senior Notes due 2025 (the “Notes”);

WHEREAS, the Indenture provides that under certain circumstances each Guaranteeing Subsidiary shall execute and deliver to the Trustee a supplemental indenture pursuant to which each Guaranteeing Subsidiary shall unconditionally guarantee all of the Issuer’s Obligations under the Notes and the Indenture on the terms and conditions set forth herein (the “Guarantee”); and

 

 

WHEREAS, pursuant to Section 9.01 of the Indenture, the Trustee is authorized to execute and deliver this Supplemental Indenture.

NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged, the Guaranteeing Subsidiary and the Trustee mutually covenant and agree for the equal and ratable benefit of the Holders as follows:

1.CAPITALIZED TERMS.  Capitalized terms used herein without definition shall have the meanings assigned to them in the Indenture.

2.AGREEMENT TO GUARANTEE.  Each Guaranteeing Subsidiary hereby agrees to provide an unconditional Guarantee on the terms and subject to the conditions set forth in the Guarantee and in the Indenture including but not limited to Article 10 thereof.

4.NO RECOURSE AGAINST OTHERS.  No director, officer, employee, incorporator or stockholder of the Issuer or any Guarantor, as such, will have any liability for any obligations of the Issuer or the Guarantors under the Notes, this Indenture, the Guarantees or for any claim based on, in respect of, or by reason of, such obligations or their creation.  Each Holder by accepting a Note waives and releases all such liability.  The waiver and release are part of the consideration for issuance of the Notes.  The waiver may not be effective to waive liabilities under the federal securities laws.

5.NEW YORK LAW TO GOVERN.  THE INTERNAL LAW OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO CONSTRUE THIS SUPPLEMENTAL INDENTURE WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY.

6.COUNTERPARTS.  The parties may sign any number of copies of this Supplemental Indenture.  Each signed copy shall be an original, but all of them together represent the same agreement.

7.EFFECT OF HEADINGS.  The Section headings herein are for convenience only and shall not affect the construction hereof.

8.THE TRUSTEE.  The Trustee shall not be responsible in any manner whatsoever for or in respect of the validity or sufficiency of this Supplemental Indenture or for or in respect of the recitals contained herein, all of which recitals are made solely by the Guaranteeing Subsidiary and the Issuer.

301659566_1 

 

IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly executed and attested, all as of the date first above written.

Dated:  April 17, 2018

COX INDUSTRIES, INC.

By/s/ Louann E. Tronsberg-Deihle
Name: Louann E. Tronsberg-Deihle
Title: Treasurer

COX WOOD PRESERVING COMPANY

By     /s/ Louann E. Tronsberg-Deihle

          Name: Louann E. Tronsberg-Deihle
          Title: Treasurer

 

STRUCTURAL WOODS PRESERVING CO.

By     /s/ Louann E. Tronsberg-Deihle                   Name: Louann E. Tronsberg-Deihle
          Title: Treasurer

 

 

COVE CITY WOOD PRESERVING, INC.

By     /s/ Louann E. Tronsberg-Deihle

          Name: Louann E. Tronsberg-Deihle
          Title: Treasurer

 

 

CAROLINA POLE, INC.

By     /s/ Louann E. Tronsberg-Deihle

          Name: Louann E. Tronsberg-Deihle
          Title: Treasurer

 

 

NORTH - SOUTH WOOD PRESERVING COMPANY, INC.

By     /s/ Louann E. Tronsberg-Deihle

          Name: Louann E. Tronsberg-Deihle
          Title: Treasurer

 

 

 

 

 

[Koppers - Signature Page to Second Supplemental Indenture] 

 

 

CAROLINA POLE LELAND, INC.

By     /s/ Louann E. Tronsberg-Deihle

          Name: Louann E. Tronsberg-Deihle
          Title: Treasurer

 

 

LELAND LAND LLC

By     /s/ Louann E. Tronsberg-Deihle

          Name: Louann E. Tronsberg-Deihle
          Title: Treasurer

 

 

COX WOOD OF ALABAMA, LLC

By     /s/ Louann E. Tronsberg-Deihle

          Name: Louann E. Tronsberg-Deihle
          Title: Treasurer

 

 

COX WOOD OF VIRGINIA, LLC

By     /s/ Louann E. Tronsberg-Deihle

          Name: Louann E. Tronsberg-Deihle
          Title: Treasurer

 

 

NATIONAL WOOD SOURCING, LLC

By     /s/ Louann E. Tronsberg-Deihle

          Name: Louann E. Tronsberg-Deihle
          Title: Treasurer

 

 

SUSTAINABLE MANAGEMENT SYSTEMS LLC

By     /s/ Louann E. Tronsberg-Deihle

          Name: Louann E. Tronsberg-Deihle
          Title: Treasurer

 

 

ATLANTIC POLE - GEORGIA, LLC

By     /s/ Louann E. Tronsberg-Deihle

          Name: Louann E. Tronsberg-Deihle
          Title: Treasurer

 

 

 

[Koppers - Signature Page to Second Supplemental Indenture] 

 

 

ATLANTIC POLE - VIRGINIA, LLC

By     /s/ Louann E. Tronsberg-Deihle

          Name: Louann E. Tronsberg-Deihle
          Title: Treasurer

 

 

COX RECOVERY SERVICES, LLC

By     /s/ Louann E. Tronsberg-Deihle

          Name: Louann E. Tronsberg-Deihle
          Title: Treasurer

 

 

RUBY’S CORNER, LLC

By     /s/ Louann E. Tronsberg-Deihle

          Name: Louann E. Tronsberg-Deihle
          Title: Treasurer

 

 

SWEETWATER WOOD HOLDINGS, LLC

By     /s/ Louann E. Tronsberg-Deihle

          Name: Louann E. Tronsberg-Deihle
          Title: Treasurer

 

 

KOPPERS INC. 

By/s/ Louann E. Tronsberg-Deihle
Name: Louann E. Tronsberg-Deihle
Title: Treasurer

KOPPERS HOLDINGS INC. 

By/s/ Louann E. Tronsberg-Deihle
Name: Louann E. Tronsberg-Deihle
Title: Treasurer

 

 

 

[Koppers - Signature Page to Second Supplemental Indenture] 

 

Subsidiary Guarantors:

KOPPERS DELAWARE, INC.,
a Delaware corporation

By:/s/ Louann E. Tronsberg-Deihle
Name: Louann E. Tronsberg-Deihle
Title: Treasurer

KOPPERS CONCRETE PRODUCTS, INC.,
a Delaware corporation

By:/s/ Louann E. Tronsberg-Deihle
Name: Louann E. Tronsberg-Deihle
Title: Treasurer

CONCRETE PARTNERS, INC.,
a Delaware corporation

By:/s/ Louann E. Tronsberg-Deihle
Name: Louann E. Tronsberg-Deihle
Title: Treasurer

KOPPERS WORLD-WIDE VENTURES CORPORATION,
a Delaware corporation

By:/s/ Louann E. Tronsberg-Deihle
Name: Louann E. Tronsberg-Deihle
Title: Vice President

KOPPERS ASIA LLC,
a Delaware limited liability company

By:/s/ Louann E. Tronsberg-Deihle
Name: Louann E. Tronsberg-Deihle
Title: Treasurer

 

 

[Koppers - Signature Page to Second Supplemental Indenture] 

 

KOPPERS VENTURES INC.,
a Delaware corporation

By:/s/ Louann E. Tronsberg-Deihle
Name: Louann E. Tronsberg-Deihle
Title: Treasurer and Assistant Secretary

KOPPERS PERFORMANCE CHEMICALS INC.,
a New York corporation

By:/s/ Louann E. Tronsberg-Deihle
Name: Louann E. Tronsberg-Deihle
Title: Treasurer

KOPPERS RAILROAD STRUCTURES INC.,
a Delaware corporation

By:/s/ Louann E. Tronsberg-Deihle
Name: Louann E. Tronsberg-Deihle
Title: Treasurer

KOPPERS NZ LLC,
a New York limited liability company

By:/s/ Louann E. Tronsberg-Deihle
Name: Louann E. Tronsberg-Deihle
Title: Authorized Person

KOPPERS-NEVADA LIMITED-LIABILITY COMPANY,
a Nevada limited-liability company

By:/s/ Louann E. Tronsberg-Deihle
Name: Louann E. Tronsberg-Deihle
Title: Authorized Person

WOOD PROTECTION MANAGEMENT LLC,
a Nevada limited-liability company

By:/s/ Louann E. Tronsberg-Deihle
Name: Louann E. Tronsberg-Deihle
Title: Authorized Person

[Koppers - Signature Page to Second Supplemental Indenture] 

 

WOOD PROTECTION LP,
a Texas limited partnership

By: WOOD PROTECTION MANAGEMENT     LLC, 
its General Partner

By:     /s/ Louann E. Tronsberg-Deihle
          Name: Louann E. Tronsberg-Deihle
          Title: Authorized Person

M.A. ENERGY RESOURCES, LLC

By:/s/ Louann E. Tronsberg-Deihle
Name: Louann E. Tronsberg-Deihle
Title: Treasurer

 

[Koppers - Signature Page to Second Supplemental Indenture] 

 

WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee 

By/s/ Tina Gonzalez
Authorized Signatory

 

 

[Koppers - Signature Page to Second Supplemental Indenture]

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