Document:

exv10w1

Exhibit 10.1

SECOND AMENDMENT AGREEMENT

TO

PALLADIUM AND RHODIUM SALES AGREEMENT

     This SECOND AMENDMENT AGREEMENT TO PALLADIUM AND RHODIUM SALES AGREEMENT (this “Amendment”) is
made and entered into as of this 5th day of March, 2009, by and between STILLWATER MINING COMPANY,
a Delaware corporation, whose address is 536 E. Pike Avenue Columbus, Montana 59019 (“SMC”), and
GENERAL MOTORS CORPORATION, a Delaware corporation, with a place of business at 777 Joslyn Ave.,
Pontiac, Michigan 48340-2925 (“GM”).

     WHEREAS, SMC and GM are parties to a Palladium and Rhodium Sales Agreement dated as of August
8, 2007 (the “Original Contract,” and, as the same may be amended from time to time, the
“Agreement” as amended by the First Amendment Agreement dated as of December 9, 2008); and

     WHEREAS, GM has requested and SMC has agreed to an amendment to the Agreement, subject to the
terms and conditions hereof.

     Accordingly, the parties hereto agree as follows:

SECTION 1. Definitions; Interpretation.

     (a) Terms Defined in Agreement. All capitalized terms used in this Amendment and not
otherwise defined herein shall have the meanings assigned to them in the Agreement.

     (b) Interpretation. Headings in this Amendment are for convenience of reference only and are
not part of the substance hereof.

SECTION 2. Amendments to the Agreement.

     (a) Amendments. The Agreement shall be amended as follows:

     (i) Section 4(b) shall be amended by amending and restating the first
sentence to read as follows:

SMC will sell and deliver and GM will purchase ***
Ounces of Rhodium each month starting in
*** and ending in ***, except that (1) for the first quarter of calendar ***, the quantity
will be reduced to *** Ounces of Rhodium per month; (2) for the second quarter of calendar
*** the quantity delivered will be reduced to *** Ounces of Rhodium in April and *** (***)
Ounces in May and June; and (3) for the third and fourth quarters of ***, upon the request
of GM to consider a reduction in the quantity of Rhodium to

Confidential treatment has been requested with respect to certain portions of this exhibit. Such
portions are marked with “***” in place of the redacted language. Omitted portions are filed
separately with the Securities and Exchange Commission.

 

 

an amount less than *** Ounces per month (which request must be made by the end of the
first month of the previous quarter), SMC will review such request and notify GM within
five (5) business days of receipt of GM’s request for reduction as to whether or not SMC
can accommodate such reduction in quantity, and if so, whether or not SMC will adjust the
pricing of such reduced quantity; if SMC’s proposal is acceptable to GM, the Parties shall
amend this Agreement to adjust the quantity and, if applicable, the price for the Ounces of
Rhodium to be delivered during such quarter in ***.

     (ii) Section 5(b) of the Agreement shall be amended by adding the following sentence at the
end of such section:

Notwithstanding anything in this Agreement to the contrary, the price per
Ounce to be paid to SMC by GM for the actual quantities of Rhodium delivered during
the first and second quarters of *** will be based on the JM
Reference Price Average for the Pricing Month, with no discount.

     (b) References Within Agreement. Each reference in the Agreement to “this
Agreement” and the words “hereof,” “herein,” “hereunder,” or words of like import,
shall mean and be a reference to the Agreement as amended by this Amendment.

SECTION 3. Conditions of Effectiveness. The effectiveness of Section 2 of this
Amendment shall be subject to the satisfaction of the following condition
precedent:

     (a) Agreement. SMC and GM shall have each received a signed counterpart of
this Amendment, or a facsimile copy thereof, signed by the other party hereto.

SECTION 4. Miscellaneous.

     (a) Agreement Otherwise Not Affected. Except as expressly amended pursuant
hereto, the Agreement shall remain unchanged and in full force and effect and is
hereby ratified and confirmed in all respects.

     (b) No Reliance. Each party hereto hereby acknowledges and confirms to the
other that such party is executing this Amendment on the basis of its own
investigation and for its own reasons without reliance upon any agreement,
representations, understanding or communication by or on behalf of any other
Person.

     (c) Binding Effect. This Amendment shall be binding upon, inure to the benefit
of and be enforceable by each party hereto and their respective successors and
assigns.

     (d) Governing Law. THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK UPON THE SAME TERMS AND
CONDITIONS AS THOSE SET FORTH IN SECTION 26 OF THE AGREEMENT.

Confidential treatment has been requested with respect to certain portions of this
exhibit. Such portions are marked with “***” in place of the redacted language.
Omitted portions are filed separately with the Securities and Exchange Commission.

 

 

     (e) 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 but one and the same agreement.

     IN WITNESS WHEREOF, the parties hereto have duly executed this Amendment, as of the date first
above written.

	 	 	 	 	 	 	 	 	 	 	 
	STILLWATER MINING COMPANY	 	 	 	GENERAL MOTORS CORPORATION	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By: 

Name:

	 	/s/ John R. Stark
 

John R. Stark
	 	 
	 	By:

Name:
	 	/s/ David Drouillard
 

David Drouillard
	 	 
	Title:

	 	Vice President
	 	 	 	Title:	 	Purchasing Director	 	 

Confidential treatment has been requested with respect to certain portions of this exhibit. Such
portions are marked with “***” in place of the redacted language. Omitted portions are filed
separately with the Securities and Exchange Commission.exv10w1

Exhibit 10.1

	 	 	 
	 
	 	
	 
	 	A NiSource Company

	 
	 	 
	 
	 	1700 MacCorkle Ave SE

	 
	 	PO Box 1273

	 
	 	Charleston,
WV 25325-1273

Customer Services

June 30, 2009

Ms. Nimmie Hickman

Washington Gas Light Company

6801 Industrial Park

Springfield, VA 22151

			
	Re:	 	FSS Service Agreement No. 4409
FTS Service Agreement No. 4484
SST Service
Agreement No. 100303

Dear Ms. Hickman:

Enclosed for your file are fully executed originals of the above-referenced agreements.

If you should have any questions, please feel free to contact me at (304) 357-3705.

Sincerely,

Jackie R. Sydnor

Team Leader, Customer Services

Enclosures

JRS:seb

 

 

	 	 	 
	 
	 	Service Agreement No. 4409
	 
	 	Control No.

FSS SERVICE AGREEMENT

THIS
AGREEMENT, made and entered into this 31 day of October 2008, by and between:

COLUMBIA GAS TRANSMISSION, LLC

(“Transporter”)

AND

Washington Gas Light Company

(“Shipper”)

WITNESSETH:
That in consideration of the mutual covenants herein contained, the parties hereto agree as follows:

Section 1. Service to be Rendered. Transporter shall perform and Shipper shall receive service
in accordance with the provisions of the effective FSS Rate Schedule and applicable General Terms
and Conditions of Transporter’s FERC Gas Tariff, Second Revised Volume No, 1 (Tariff), on file with
the Federal Energy Regulatory Commission (Commission), as the same may be amended or superseded in
accordance with the rules and regulations of the Commission. Transporter shall store quantities up
to but not exceeding Shipper’s Storage Contract Quantity as specified in Appendix A, as the same
may be amended from time to time by agreement between Shipper and Transporter, or in accordance
with the rules and regulations of the Commission. Service hereunder shall be provided subject to
the provisions of Part 284,223 of Subpart G of the Commission’s regulations. Shipper warrants that
service hereunder is being provided on behalf of Shipper.

Section 2. Term. Service under this Agreement shall commence as of November 1, 2008, and shall
continue in full force and effect until March 31, 2022. Pre-granted abandonment shall apply upon
termination of this Agreement, subject to any right of first refusal
Shipper may have under
Commission’s regulations and Transporter’s Tariff.

Section 3. Rates. Shipper shall pay the charges and furnish the Retainage as described in the
above referenced Rate Schedule, unless otherwise agreed to by the parties in writing and specified
as an amendment to this Service Agreement. Transporter may agree to discount its rate to Shipper
below Transporter’s maximum rate, but not less than
Transporter’s minimum rate. Such discounted
rate may apply to: a) specified quantities (contract demand or
commodity quantities): b)
specified quantities above or below a certain level or all quantities if quantities exceed a
certain level; c) quantities during specified time periods; d)
quantities at specified points,
locations, or other defined geographical areas; and e) that a specified discounted rate will apply
in a specified relationship to the quantities actually transported (i.e., that the reservation
charge will be adjusted in a specified relationship to quantities
actually transported). In
addition, the discount agreement may include a provision that if one rate component which was at or
below the applicable maximum rate at the time the discount agreement was executed subsequently
exceeds the applicable maximum rate due to a change in Transporter’s maximum rate so that such rate
component must be adjusted downward to equal the new applicable maximum rate, then other rate
components may be adjusted upward to achieve the agreed overall rate, so long as none of the
resulting rate components exceed the maximum rate applicable to that rate component. Such changes
to rate components shall be applied protectively, commencing with the date a Commission order
accepts revised tariff sheets. However, nothing contained herein shall be construed to alter a
refund obligation under applicable law for any period during which
rates which had been charged
under a discount agreement exceeded rates which ultimately are found to be just and reasonable.

 

 

	 	 	 
	 
	 	Service Agreement No. 4409
	 
	 	Control No.

FSS SERVICE AGREEMENT

Section 4. Notices. Notices to Transporter under this Agreement shall be addressed to it at Post
Office Box 1273, Charleston, West Virginia 25325-1273, Attention: Manager — Customer Services and
notices to Shipper shall be addressed to it at:

Washington Gas Light Company

6801 Industrial Pk

Springfield, VA 22151

Attention: Nimmie Hickman

until changed by either party by written notice.

Section 5. Superseded Agreements. This Service Agreement supersedes and cancels, as of the
effective date hereof, the following Service Agreements: N/A

	 	 	 	 	 	 	 	 	 	 	 
	WASHINGTON GAS LIGHT COMPANY	 	 	 	COLUMBIA GAS TRANSMISSION, LLC	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By
	 	/s/ Terry D. McCallister 
	 	 	 	By	 	/s/ Mark S. Wilke 
	 	 
	 	 	Terry D. McCallister	 	 	 	 	 	Mark S. Wilke	 	 
	Title
	 	President & COO	 	 	 	Title	 	Director, Commercial Services	 	 

 

 

Revision No. 0          

Appendix A to Service Agreement No. 4409

Under Rate Schedule FSS

between Columbia Gas Transmission, LLC (Transporter)

and Washington Gas Light Company (Shipper)

	 	 	 	 	 	 	 
	 	 	 	 	 	 	Maximum Daily Storage
	Begin Date	 	End Date	 	Storage Contract Quantity Dth	 	Quantity Dth/Day
	       
	 	 	 	 	 	 	 
	November 1, 2008	 	March 31, 2016	 	24,857,198	 	396,650
	 	 	 	 	 	 	 
	April 1, 2016	 	March 31, 2018	 	18,642,930	 	297,488
	 	 	 	 	 	 	 
	April 1, 2018	 	March 31, 2020	 	12,428,662	 	198,326
	 	 	 	 	 	 	 
	April 1, 2020	 	March 31, 2022	 	6,214,394	 	99,164

CANCELLATION OF PREVIOUS APPENDIX A

o Yes þ No (Check applicable blank) Transporter and Shipper have mutually agreed to a
Regulatory Restructuring Reduction Option pursuant to Section 42 of the General Terms and
Conditions of Transporter’s FERC Gas Tariff.

o Yes þ No (Check applicable blank) Shipper has a contractual right of first refusal
equivalent to the right of first refusal set forth from time to time in Section 4 of the General
Terms and Conditions of Transporter’s FERC Gas Tariff.

Service
pursuant to this Appendix A, Revision No. 0 shall be
effective from November 1, 2008
through March 31, 2022.

o Yes þ No (Check applicable blank) This Appendix A, Revision No. 0 shall cancel and
supersede the previous Appendix A, Revision No.
     , effective as of                     , 20    , to the Service Agreement
referenced above.

o Yes þ No (Check applicable blank) This Service Agreement covers interim capacity sold
pursuant to the provisions of General Terms and Conditions Section 4.2(j). Right of first refusal
rights, if any, applicable to this interim capacity are limited as provided for in General Terms
and Conditions Section 4.2(j).

With the
exception of this Appendix A, Revision No. 0, all other terms and conditions of said
Service Agreement shall remain in full force and effect.

	 	 	 	 	 	 	 	 	 	 	 
	Washington Gas Light Company	 	 	 	Columbia Gas Transmission, LLC	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By:
	 	/s/ Terry D. McCallister
 
	 	 	 	By:	 	/s/ Mark S. Wilke
 
	 	 
	 	 	Terry D. McCallister	 	 	 	Its:	 	Director, Commercial Services	 	 
	Its:
	 	President & COO	 	 	 	Date:	 	6-12-09	 	 
	Date:

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