Document:

Exhibit

Exhibit 4.17

FIRST AMENDMENT TO CREDIT AGREEMENT

THIS FIRST AMENDMENT TO CREDIT AGREEMENT, dated as of June 25, 2019 (this “Amendment”), is entered into between VECTREN CAPITAL, CORP., an Indiana corporation (the “Borrower”), the Guarantor party hereto, the Lenders party hereto and BANK OF AMERICA, N.A., as Administrative Agent (the “Administrative Agent”).  Capitalized terms used herein and not otherwise defined shall have the meanings ascribed thereto in the Credit Agreement (as defined below).

RECITALS

A.The Borrower, the Guarantor, the Lenders and the Administrative Agent are parties to that certain Credit Agreement, dated as of September 14, 2018 (as amended or modified from time to time, the “Credit Agreement”).

B.The parties hereto have agreed to amend the Credit Agreement as provided herein.

C.In consideration of the agreements contained herein, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows:

AGREEMENT

1.    Amendments.

(a)    The sixth sentence in Section 2.02(a) of the Credit Agreement is hereby amended to read as follows:

If the Borrower does not specify a Type of a Loan in a Loan Notice or if the Borrower does not give a timely notice requesting a conversion or continuation, then the applicable Loans shall be made as Eurodollar Rate Loans with an Interest Period of one month; provided, that, if a Default exists at the time of such conversion or continuation, then the applicable Loans shall be made as, or converted to, Base Rate Loans.  

2.    Effectiveness; Conditions Precedent.  This Amendment shall be effective upon receipt by the Administrative of a copy of this Amendment executed by the Borrower, the Guarantor and the Required Lenders.

3.    Ratification of Credit Agreement.  Each Loan Party acknowledges and consents to the terms set forth herein and agrees that this Amendment does not impair, reduce or limit any of its obligations under the Credit Agreement, all of which are hereby ratified and confirmed.

4.    Authority/Enforceability.  Each Loan Party represents and warrants as follows:

(a)    It has the power and authority and legal right to execute and deliver this Amendment and to perform its obligations hereunder.  

(b)    The execution and delivery of this Amendment has been duly authorized by proper corporate proceedings and constitutes its legal, valid and binding obligations, enforceable in 

accordance with its terms, except as enforceability may be limited by bankruptcy, insolvency or similar laws affecting the enforcement of creditors' rights generally.

(c)    No order, consent, adjudication, approval, license, authorization, or validation of, or filing, recording or registration with, or exemption by, or other action in respect of any Governmental Authority which has not been obtained by the Borrower, the Guarantor or any of their Subsidiaries, is required to be obtained by the Borrower, the Guarantor or any of their Subsidiaries in connection with the execution and delivery of this Amendment or the legality, validity, binding effect or enforceability of this Amendment.

(d)    The execution and delivery of this Amendment does not violate (i) the Borrower’s, the Guarantor’s or any of their Subsidiaries’ Organization Documents or (ii) any law, rule, regulation, order, writ, judgment, injunction, decree or award binding on the Borrower, the Guarantor or any of their Subsidiaries.

5.    Representations and Warranties of the Loan Parties.  Each Loan Party represents and warrants to the Administrative Agent and the Lenders that (a) the representations and warranties contained in Article VI of the Credit Agreement (other than the representation and warranty contained in Sections 6.05, 6.07 and 6.16 of the Credit Agreement) or any other Loan Document, or which are contained in any document furnished at any time under or in connection therewith, are true and correct in all material respects (or, if any such representation or warranty is qualified by materiality or Material Adverse Effect, it is true and correct in all respects as drafted) 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 in all material respects (or, if any such representation or warranty is qualified by materiality or Material Adverse Effect, it is true and correct in all respects as drafted) as of such earlier date, and (b) no event has occurred and is continuing or would result from the consummation of the borrowing of the Term Loan that would constitute an Event of Default or a Default.

6.    Counterparts/Telecopy.  This Amendment may be executed in any number of counterparts, each of which when so executed and delivered shall be an original, but all of which shall constitute one and the same instrument.  Delivery of executed counterparts of this Amendment by facsimile or other secure electronic format (.pdf) shall be effective as an original.

7.    Reference to Credit Agreement.  Upon the effectiveness of this Amendment, (A) each reference in the Credit Agreement to “this Agreement”, “hereunder”, “hereof”, “herein” or words of like import shall mean and be a reference to the Credit Agreement as amended or otherwise modified hereby and (B) each reference in any other document, instrument or agreement executed and/or delivered in connection with the Credit Agreement shall mean and be a reference to the Credit Agreement as amended or otherwise modified hereby.

8.    GOVERNING LAW.  THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH THE LAWS OF THE STATE OF ILLINOIS.

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

BORROWER:            VECTREN CAPITAL, CORP.,
an Indiana corporation

By:    /s/ Carla A. Kneipp        
Name:  Carla A. Kneipp
Title:    Vice President and Treasurer

GUARANTOR:            VECTREN CORPORATION,
an Indiana corporation

By:    /s/ Carla A. Kneipp        
Name:  Carla A. Kneipp
Title:    Vice President and Treasurer

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

By:    /s/ Dan Spencer            
Name: Dan Spencer
Title:   Senior Vice President

LENDERS:            BANK OF AMERICA, N.A.,
as a Lender

By:    /s/ Dan Spencer            
Name:  Dan Spencer
Title:    Senior Vice PresidentExhibit

Exhibit 10.1

	
		
	
	

Scott M. Prochazka
President & CEO

	 

	April 9, 2019

Ms. Xia Liu

Dear Xiu:
 
I am pleased to extend to you an offer of employment with CenterPoint Energy (the “Company”), as EVP & Chief Financial Officer reporting to me.  Your offer includes the following:
 
Salary:
$45,833.33 per month ($550,000 per year)
 
Incentive Compensation:
Short-Term Incentive (STI) plan participation - You will be eligible for participation in the 2019 STI plan.  Your target award level is 75% of your 2019 plan year eligible earnings calculated from your hire date.  However, based on meeting acceptable performance, you will be eligible for a full year target award.  Annual plan year award funding is based upon the achievement of a combination of corporate goals, approved by the Compensation Committee of the Board of Directors (Committee).  Your actual payout, if any, is based on achievement of corporate goals as well as your individual performance.

Long-Term Incentive (LTI) plan participation - You will be eligible for participation in the CenterPoint Energy Long-Term Incentive Plan (“LTIP”).  Subject to Committee approval, you will be granted a 2019-2021 LTIP award with a target incentive level of 190% of your annual base salary. This incentive may be granted in a combination of CenterPoint Energy performance share units, restricted stock units, stock options, or other authorized form.  For your information, your 2019 award will be made up of 30% time-based restricted stock units (RSUs), 40% performance-based RSUs based on total shareholder return versus peer companies and 30% performance-based RSUs based on achieving a cumulative net income goal. 

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Executive Benefits:
You are eligible for several executive benefits including the Change In Control Plan.  A summary of these benefits is included for your information.
 
Other Benefits: 
Participation in CenterPoint Energy’s industry competitive benefits package.  A summary is included.
Vacation:
Four (4) weeks of vacation each calendar year until such time as your service qualifies you for additional vacation under the vacation policy.

Relocation Assistance:
You will be provided with short-term rental and travel allowance for 14 months, not to exceed $140,000 in total costs (benefit will be grossed up).

Relocation assistance will be provided pursuant to the Company’s Relocation Policy.  A summary of the program is attached.  If you accept the Company’s reimbursement for relocation expenses, you will be required to repay 100% of the relocation expenses if you voluntarily resign within the first year after the effective date of your employment and 50% within two years.

Signing Incentive:    
You will be granted a one-time, Restricted Stock Unit Award under the CenterPoint Energy LTIP for a total of 25,000 units of CenterPoint Energy stock, subject to vesting over a two-year period. 12,500 units will vest upon your continued employment through the first anniversary of the grant date and the remaining 12,500 units will vest upon your continued employment through the second anniversary of the grant date.  Any unvested shares will be forfeited should you terminate employment prior to the applicable vesting date.  Your award will be subject to the terms and conditions of the LTIP and the applicable award agreement (forms of agreement are included).

A one-time, cash payment of $100,000 subject to tax withholding, payable on your first paycheck, and to be reimbursed to the Company in full if your employment terminates pursuant to the Repayment terms below.

Repayment Agreement(s):    

I hereby acknowledge that the Company will be reimbursing or advancing payments to me for items identified above.  In consideration of the Company's payment(s), and in the event that I resign my employment from the Company, I hereby agree to repay to the Company these payments as follows:

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If I resign within the first year after the start date of my employment, then I shall repay to the Company 100% of the payment(s); or
If I resign within two years after the start date of my employment but after the first year of employment, then I shall repay to the Company 50% of the payment(s).

I agree to repay the Company no later than 15 days following the date of my termination of employment, and I also accept responsibility for any tax liabilities, credits and/or deductions that I may incur. I agree that the Company may deduct any payments from my wages, final paycheck, expense reimbursements, excess plan contributions, vacation hours, or any other sums owed to me by the Company.

My signature below is evidence that I have read and agree to these terms and conditions.

Anticipated Start Date: 
April 22, 2019, or other date mutually agreed to.

Conditions:
This offer is contingent upon successful completion of our background investigation and a drug screen; which will be conducted prior to your employment date.  

The Immigration Reform & Control Act of 1990 requires that all employers verify that persons hired by their firms are authorized to be employed in the United States.  Documents verifying this eligibility will need to be provided upon reporting to work.
 
Where provisions in this letter refer to CenterPoint Energy’s compensation or benefits plans or to policies of CenterPoint Energy, the applicable plan document or policy statement will govern administration of the plan or application of the policy in all cases.
  
This letter neither constitutes nor may be construed as an employment contract between the Company and you for any period of time.  Employment with CenterPoint Energy is an at-will employment relationship governed by applicable federal and state laws. 
   

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If you have any questions, please do not hesitate to give me a call at (713) 207-8480.
 
To indicate your acceptance of this employment offer, please sign the original offer letter and return to me.  I look forward to working with you and I believe that you will be a great addition to our team and contribute to achieving our vision of leading the nation in delivering energy, service and value.  
 
Sincerely,

/s/ Scott Prochazka

Scott Prochazka
President & CEO

	
					
	/s/ Xia Liu
	   
	Xia Liu
	 
	4/16/19

	Signature
	 
	Name (Print)
	 
	Date

                           
                                                          
 

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