Document:

wlms_EX_1019

		
			Exhibit 10.19
		

		
			 
		

		
			THIRD AMENDMENT TO
		

		
			SENIOR SECURED CREDIT AGREEMENT
		

		
			This THIRD AMENDMENT TO SENIOR SECURED CREDIT AGREEMENT, dated as of January 13, 2020 (this “Third Amendment”), is entered into by and among Williams Industrial Services Group, Inc. (“Borrower”), each financial institution from time to time party hereto as lender (each, a “Lender” and collectively, the “Lenders”), and CENTRE LANE PARTNERS MASTER CREDIT FUND II, L.P., a Delaware limited partnership, as administrative agent for the Lenders (in such capacity, and together with its successors and assigns, the “Administrative Agent”) and as collateral agent for the Lenders (in such capacity, and together with its successors and assigns, the “Collateral Agent”).
		

		
			RECITALS
		

		
			WHEREAS, the Borrower, the Lenders identified on signatures pages thereto, the Administrative Agent and the Collateral Agent are parties to that certain Senior Secured Credit Agreement, dated as of September 18, 2018, as amended by that certain First Amendment to Senior Secured Credit Agreement, dated as of October 9, 2019 ant that certain Second Amendment to Senior Secured Credit Agreement, dated as of November 13, 2019 (the “Existing Credit Agreement”; the Existing Credit Agreement, as amended by this Third Amendment, the “Credit Agreement”); and
		

		
			WHEREAS, the Borrower, the Lenders, the Administrative Agent and the Collateral Agent desire to amend certain provisions of the Existing Credit Agreement in the manner and on the terms and conditions provided for herein.
		

		
			NOW THEREFORE, in consideration of the premises and the mutual covenants and the agreements herein set forth, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, agree as follows:
		

		
			ARTICLE I
		

		
			Definitions
		

		
			Section 1.1.     Certain Definitions.  Capitalized terms used herein but not otherwise defined herein shall have the meanings ascribed thereto in the Credit Agreement.
		

		
			ARTICLE II
		

		
			Amendment
		

		
			Section 2.1.     Amendment to Credit Agreement.  Upon satisfaction of the conditions set forth in Section 4 hereof, the Existing Credit Agreement is hereby amended as follows:
		

		
			(a)        Section 1.01 of the Existing Credit Agreement is hereby amended by adding the following new definition in appropriate alphabetical order:
		

		
			
		

		
			

		 

		

		
			 
		

		
			“Third Amendment” means that certain Third Amendment to Senior Secured Credit Agreement dated as of January 13, 2020 by and among the Borrower, the Lenders party thereto, the Administrative Agent and the Collateral Agent, and acknowledged by the Guarantors.
		

		
			“Third Amendment Effective Date” means the date all the conditions precedent to effectiveness of the Third Amendment as set forth therein are satisfied or waived in accordance therewith.
		

		
			“Total Net Leverage Ratio” means, with respect to any Test Period, the ratio of (a) Total Debt as of the last day of such Test Period minus Unrestricted Cash in excess of $2,500,000 as of the last day of such Test Period to (b) Consolidated Adjusted EBITDA of the borrower and its Subsidiaries for such Test Period.
		

		
			“Unrestricted Cash” means the balance of unencumbered cash and Cash Equivalent Investments (which for greater certainty shall not include any undrawn credit lines), in each case, to the extent held in a deposit account in the United States subject to an account control agreement reasonably satisfactory to the Collateral Agent.
		

		
			(b)       Section 1.01 of the Existing Credit Agreement is hereby amended by deleting the definition of “Corporate Adjusted EBITDA”, “Operating Subsidiaries Consolidated Adjusted EBITDA” and “Total Leverage Ratio” therefrom.
		

		
			(c)        Section 1.01 of the Existing Credit Agreement is hereby amended by amending and restating clause a(v), clause (a)(vii) and clause (d) of the definition of “Consolidated Adjusted EBITDA”, to be effective beginning with the Test Period ending December 31, 2019, as follows:
		

		
			“(a)(v) any extraordinary losses and unusual or non‐recurring charges, including, without limitation, any severance, integration, facilities closing or relocation costs and curtailments or modifications to pension and post‐retirement employee benefit plans in an aggregate amount not to exceed (1) $3,000,000 in Fiscal Year 2019, (2) $500,000 in Fiscal Year 2020 and (3) $500,000 in any Fiscal Year thereafter;
		

		
			(a)(vii) one-time, non-recurring customary and documented costs and expenses deducted from net income during such period in connection with (A) the negotiation, execution and delivery of the Third Amendment and all documents contemplated thereby and the consummation of the transactions contemplated therein and (B) the negotiation, execution and delivery of the amendment to the documents evidencing the ABL Indebtedness and all other documents contemplated thereby and the consummation of the transactions contemplated therein, in an aggregate amount with respect to clauses (A) and (B) not to exceed $500,000;
		

		
			(d)        without duplication and to the extent included in determining such Consolidated Net Income of Borrower and its Subsidiaries, any extraordinary or non-recurring non‐cash gains (or plus extraordinary non‐cash losses) for such period and any gains (or plus losses) realized in connection with any Disposition by the Borrower and its Subsidiaries during such period (other than any non-cash gains received from the
		

		
			
		

		
			

		 

		

			2

		

		

		
			 
		

		
			settlement with Innova Global Inc. in connection with the Disposition of Braden Manufacturing, L.L.C.), all determined on a consolidated basis in accordance with GAAP.”
		

		
			(d)       The definition of “Excess Cash Flow” contained in Section 1.01 of the Existing Credit Agreement is hereby amended by deleting the word “and” at the end of clause (e) thereof, renumbering clause (f) as clause (g) and inserting a new clause (f) as follows:
		

		
			“(f) all amounts received (1) from the settlement with Innova Global Inc. in connection with the Disposition of Braden Manufacturing, L.L.C. not to exceed $638,940 and (2) in connection with the arbitration/litigation proceedings (whether pursuant to settlement or otherwise) against BDO USA, LLP; and”
		

		
			(e)        Section 1.01 of the Existing Credit Agreement is hereby amended by adding a new section at the end thereof as Section 1.09.
		

		
			“Section 1.09  Divisions.  For all purposes under the Loan Documents, in connection with any division or plan of division under Delaware law (or any comparable event under a different jurisdiction’s laws): (a) if any asset, right, obligation or liability of any Person becomes the asset, right, obligation or liability of a different Person, then it shall be deemed to have been transferred from the original Person to the subsequent Person and (b) if any new Person comes into existence, such new Person shall be deemed to have been organized on the first date of its existence by the holders of its Equity Interests at such time.”
		

		
			(f)        Section 2.02(a)(ii) of the Existing Credit Agreement is hereby amended and restated in entirety as follows:
		

		
			“If the Redemption Date occurs:
		

		
			(A)       on or prior to the first anniversary of the Third Amendment Effective Date, the Prepayment Premium shall be an amount equal to two percent (2%) of the aggregate outstanding principal amount of the Loans being prepaid on such Redemption Date;
		

		
			(B)       after the first anniversary of the Third Amendment Effective Date but on or prior to the second anniversary of the Third Amendment Effective Date, the Prepayment Premium shall be an amount equal to one percent (1%) of the aggregate outstanding principal amount of the Loans being prepaid on such Redemption Date; and
		

		
			(C)       after the second anniversary of the Third Amendment Effective Date and at any time thereafter, the Prepayment Premium shall be zero.”
		

		
			(g)        Section 2.02(b)(v) of the Existing Credit Agreement shall be amended to revise the proviso therein as follows:
		

		
			“provided that for purposes of this Section, “extraordinary receipts” shall exclude the receipt of cash (A) released from escrow established in connection with the sale of Hetsco Holdings, Inc. and its Subsidiary in 2017 in an aggregate amount not to exceed $1,500,000, (B) returned after being held as cash collateral or on deposit for
		

		
			
		

		
			

		 

		

			3

		

		

		
			 
		

		
			any obligations of the Borrower or any of its Subsidiaries, including, without limitation, any letter of credit, including the Existing Letters of Credit, and (C) from the Loan Parties’ arbitration/litigation proceedings against BDO USA LLP.”
		

		
			(h)       Section 2.04 of the Existing Credit Agreement is hereby amended by adding new clauses (d) and (e) at the end thereof:
		

		
			“(d)      If on or before the day on which LIBO Rate is to be determined, the Required Lenders determine that (i) LIBO Rate cannot be determined for any reason, (ii) LIBO Rate will not adequately and fairly reflect the cost of maintaining the Loans or (iii) Dollar deposits in the principal amount of the Loans are not available in the London interbank market, the Required Lenders shall, as soon as practicable thereafter, give written notice of such determination to the Borrower and the Administrative Agent.  Upon any such determination, LIBO Rate shall be LIBO Rate as of the end of the Interest Period immediately preceding such determination and shall at all times thereafter until the Required Lenders give written notice to the Borrower and the Administrative Agent that such circumstances no longer exist, bear interest at LIBO Rate as of the end of such immediately preceding Interest Period.  Each determination by the Required Lenders hereunder shall be conclusive and binding absent manifest error.
		

		
			(e)        If at any time the Administrative Agent determines (which determination shall be conclusive absent manifest error) that (i) the circumstances set forth in clause (d)(i) of this Section have arisen and such circumstances are unlikely to be temporary or (ii) the circumstances set forth in clause (d)(i) of this Section have not arisen but the supervisor for the administrator of LIBO Rate has made a public statement identifying a specific date after which LIBO Rate shall no longer be used for determining interest rates for loans, then the Administrative Agent and the Borrower shall endeavor to establish an alternate rate of interest to LIBO Rate that gives due consideration to the then-prevailing market convention for determining a rate of interest for syndicated loans in the United States at such time, and shall enter into an amendment to this Agreement to reflect such alternate rate of interest and such other related changes to this Agreement as may be applicable; provided that, if such alternate rate of interest shall be less than 2.50%, such rate shall be deemed to be 2.50% for the purposes of this Agreement.  Notwithstanding anything to the contrary in Section 10.01, such amendment shall become effective without any further action or consent of any other party to this Agreement so long as the Administrative Agent shall not have received, within five Business Days of the date notice of such alternate rate of interest is provided to the Lenders, a written notice from the Required Lenders stating that such Lenders object to such amendment.”
		

		
			
		

		
			

		 

		

			4

		

		

		
			 
		

		
			(i)         Section 6.01 of the Existing Credit Agreement is hereby amended is hereby amended by adding new clause (i) at the end thereof:
		

		
			“(i)       Simultaneously with the delivery of each set of financial statements referred to in Section 6.01(c), the Borrower shall provide to the Administrative Agent a monthly report of (i) margin calculations by contract, (ii) backlog by contract and (iii) conversion rates for backlog by contract, in each case in such form as the Administrative Agent may reasonably request.”
		

		
			(j)        Section 6.18 of the Existing Credit Agreement is hereby amended and restated in its entirety as follows:
		

		
			“Section 6.18   Third Amendment Post-Closing Obligations.  Take all such actions set forth in Article V of the Third Amendment within the time periods set forth therein.”
		

		
			(k)       Section 7.02(h) of the Existing Credit Agreement is hereby amended and restated in its entirety as follows:
		

		
			“(h)      non-cash Investments consisting of (i) Permitted Servicing Joint Ventures existing on the Closing Date as set forth on Schedule 7.02(g) and (ii) entry into Permitted Servicing Joint Ventures by any Loan Party or a Subsidiary of a Loan Party, provided that, with respect to clauses (i) and (ii), the Loan Parties and the Subsidiaries of the Loan Parties shall not be party to more than seven (7) Permitted Servicing Joint Ventures at any time;”
		

		
			(l)         Section 7.03(j) of the Existing Credit Agreement is hereby amended by replacing “$15,000,000” with “$25,000,000” therein.
		

		
			(m)      Section 7.12 of the Existing Credit Agreement is hereby amended and restated in its entirety as follows:
		

		
			(a)        Total Net Leverage Ratio.  Commencing on December 31, 2019, permit the Total Net Leverage Ratio for the Borrower and its Subsidiaries on a consolidated basis for any Test Period ending on and as of the last day of a fiscal quarter set forth below to be greater than the ratio set forth opposite such Test Period below:
		

		
			 
		

		
			 
		

			
					
						Fiscal Quarter Ending

					
					
						Total Net Leverage Ratio

				
	
					
						December 31, 2019

					
					
						4.50:1.00

				
	
					
						March 31, 2020

					
					
						4.50:1.00

				
	
					
						June 30, 2020

					
					
						4.50:1.00

				
	
					
						September 30, 2020

					
					
						4.50:1.00

				
	
					
						December 31, 2020

					
					
						4.00:1.00

				

		
			 
		

		
			
		

		
			

		 

		

			5

		

		

		
			 
		

			
					
						Fiscal Quarter Ending

					
					
						Total Net Leverage Ratio

				
	
					
						March 31, 2021

					
					
						4.00:1.00

				
	
					
						June 30, 2021

					
					
						3.50:1.00

				
	
					
						September 30, 2021

					
					
						3.50:1.00

				
	
					
						December 31, 2021

					
					
						3.25:1.00

				
	
					
						March 31, 2022

					
					
						3.00:1.00

				
	
					
						June 30, 2022

					
					
						3.00:1.00

				
	
					
						September 30, 2022

					
					
						2.75:1.00

				
	
					
						December 31, 2022

					
					
						2.75:1.00

				

		
			 
		

		
			(b)        Minimum Consolidated Adjusted EBITDA.  Commencing on December 31, 2019, permit the Consolidated Adjusted EBITDA for the Borrower and its Subsidiaries on a consolidated basis for any Test Period ending on and as of the last day of a fiscal quarter set forth below to be less than the ratio set forth opposite such Test Period below:
		

		
			 
		

			
					
						 

					
					
						 

				
	
					
						Fiscal Quarter Ending

					
					
						Minimum Consolidated Adjusted EBITDA

				
	
					
						December 31, 2019

					
					
						 $9,500,000

				
	
					
						March 31, 2020

					
					
						 $9,500,000

				
	
					
						June 30, 2020

					
					
						 $9,750,000

				
	
					
						September 30, 2020

					
					
						 $9,750,000

				
	
					
						December 31, 2020

					
					
						 $10,000,000

				
	
					
						March 31, 2021

					
					
						 $10,500,000

				
	
					
						June 30, 2021

					
					
						 $11,000,000

				
	
					
						September 30, 2021

					
					
						 $12,000,000

				
	
					
						December 31, 2021

					
					
						 $12,500,000

				
	
					
						March 31, 2022

					
					
						 $13,000,000

				
	
					
						June 30, 2022

					
					
						 $13,500,000

				
	
					
						September 30, 2022

					
					
						 $14,000,000

				

		
			 
		

		
			

		 

		

			6

		

		

		
			
		

		
			

		 

		

			7

		

		

		
			 
		

			
					
						Fiscal Quarter Ending

					
					
						Minimum Consolidated Adjusted EBITDA

				
	
					
						December 31, 2022

					
					
						 $14,500,000

				

		
			 
		

		
			(c)        Minimum Liquidity.  Permit Liquidity reflected on the balance sheet of the Borrower and its Domestic Subsidiaries on a consolidated basis, as of the last day of each month to be less than $1,500,000.”
		

		
			ARTICLE III
		

		
			Representations and Warranties
		

		
			Section 3.1.     Representations and Warranties. In order to induce the Agents and the Lenders to enter into this Third Amendment, each Loan Party hereby represents and warrants to the Agents and each Lender as follows:
		

		
			(a)        After giving effect to this Third Amendment, the representations and warranties of the Borrower and each other Loan Party contained in Article V of the Existing Credit Agreement or any other Loan Document shall be true and correct in all material respects on and as of the date hereof; provided that to the extent that such representations and warranties specifically refer to an earlier date, they shall be true and correct in all material respects as of such earlier date; provided further that any representation and warranty that is qualified as to “materiality”, “Material Adverse Effect” or similar language shall be true and correct (after giving effect to any qualification therein) in all respects on such respective dates.
		

		
			(b)       The execution, delivery and performance of this Third Amendment have been duly authorized by all necessary action on the part of, and duly executed and delivered by each of the Loan Parties.
		

		
			(c)        The Loan Parties are in full compliance with each of the Loan Documents.
		

		
			(d)       No Material Adverse Effect has occurred since the Closing Date.
		

		
			(e)        No Default or Event of Default currently exists or shall be in existence immediately after giving effect to this Third Amendment.
		

		
			ARTICLE IV
		

		
			Effectiveness
		

		
			Section 4.1.     Effectiveness.  This Third Amendment shall become effective as of the date set forth above on which each of the following conditions is satisfied:
		

		
			(a)        The Administrative Agent shall have received duly executed signature pages to this Third Amendment signed by each Loan Party, the Administrative Agent and the Lenders.
		

		
			(b)       The Borrower shall have paid to the Administrative Agent, for the benefit of the Lenders, a fee equal to $175,000.
		

		
			
		

		
			

		 

		

			8

		

		

		
			 
		

		
			(c)        The Borrower shall have paid to Chapman and Cutler LLP, counsel to the Administrative Agent, all reasonable and documented out-of-pocket legal fees and expenses incurred in connection with this Third Amendment and any outstanding invoices in respect of reasonable legal fees and expenses of the Administrative Agent incurred in connection with the Loan Documents prior to the date hereof.
		

		
			ARTICLE V
		

		
			Post-Closing Obligations
		

		
			Section 5.1.     Canadian Guarantee and Security Agreements.
		

		
			(a)        Within sixty  (60) days (or such later time as the Collateral Agent may agree in its reasonable discretion) after the date hereof, the Borrower shall:
		

		
			(i)         cause each of WISG Canada Ltd., a British Columbia, Canada corporation, WISG Nuclear Ltd. , a British Columbia, Canada corporation and WISG Electrical Ltd., a British Columbia, Canada corporation (collectively, the “Canadian Subsidiaries” and each, a “Canadian Subsidiary”) to become Guarantors under the Credit Agreement and to execute and deliver to the Collateral Agent, a guaranty, in form and substance reasonably acceptable to the Collateral Agent, jointly and severally guaranteeing the Obligations of the other Loan Parties under the Loan Documents;
		

		
			(ii)       furnish to the Collateral Agent a description of the Material Owned Properties and material personal properties of each Canadian Subsidiary, in each case, in form and substance reasonably satisfactory to the Collateral Agent;
		

		
			(iii)      cause each Canadian Subsidiary to execute and deliver such assignments, pledges and security agreements as specified by, and in form and substance reasonably satisfactory to the Collateral Agent, in each case, securing the payment of all Obligations of such Canadian Subsidiaries under the Loan Documents and granting Liens on all properties of such Canadian Subsidiary provided,  however, that no security interest in fee‐owned real property other than Material Owned Property shall be required;
		

		
			(iv)       take and cause each Canadian Subsidiary to take or cause to be taken, whatever action (including, without limitation, the filing of Personal Property Security Act (Ontario) financing statements, the giving of notices and the endorsement of notices on title documents) may be necessary or advisable in the reasonable opinion of the Collateral Agent to vest in the Collateral Agent (or in any representative of the Collateral Agent designated by it) valid, perfected Liens on the properties purported to be subject to the pledges, assignments and security agreements delivered pursuant to this Section 5.1(a), enforceable against all third parties in accordance with their terms, subject to Permitted Liens;
		

		
			(v)        cause Williams Industrial Services Group, L.L.C. to execute and deliver to the Collateral Agent, a supplement to the relevant Collateral Document (or another pledge agreement in substantially identical form, if needed) pledging 100% of the Equity Interests held by Williams Industrial Services Group, L.L.C. in WISG Canada Ltd. and with all
		

		
			
		

		
			

		 

		

			9

		

		

		
			 
		

		
			documents delivered pursuant to this Section 5.1(a)(v) to be in form, scope and substance reasonably satisfactory to the Collateral Agent;
		

		
			(vi)       do, execute, acknowledge, deliver, record, file and register any and all such further acts, deeds, conveyances, pledge agreements, deeds of trust, trust deeds, assignments, financing statements, notices of assignment, transfers, certificates, collateral access agreements, assurances and other instruments as the Collateral Agent may reasonably require from in order to carry out more effectively the purposes of this Section 5.1(a), and cause each of the Canadian Subsidiaries to do so.
		

		
			Section 5.2.     Equity Rights Offering.
		

		
			(a)        On or before March 13, 2020, the Borrower shall have completed that certain offering of subscription rights to shareholders of the Borrower to purchase shares of the Borrower’s common stock in an amount not less than $7,000,000 as more fully described in the Borrower’s registration statement filed with the SEC on or about November 14, 2019 (the “Rights Offering”).  Notwithstanding anything to the contrary in Section 2.02(b)(vi) of the Credit Agreement, the Borrower shall not be required to prepay the Loans with the Net Cash Proceeds of the Rights Offering.
		

		
			ARTICLE VI
		

		
			Miscellaneous
		

		
			Section 6.1.     Reference to and Effect on the Loan Documents.
		

		
			(a)        On and after the date hereof, each reference in the Credit Agreement to “this Agreement”, “hereunder”, “hereof”, “herein” or words of like import referring to the Credit Agreement, and each reference in the other Loan Documents to the “Credit Agreement”, “thereunder”, “thereof” or words of like import referring to the Credit Agreement shall mean and be a reference to the Existing Credit Agreement after giving effect to this Third Amendment.
		

		
			(b)       Except as specifically set forth in this Third Amendment, the Credit Agreement and the other Loan Documents shall remain in full force and effect and are hereby ratified and confirmed.
		

		
			(c)        Except as specifically set forth in this Third Amendment, the execution, delivery and performance of this Third Amendment shall not constitute a waiver of any provision of, or operate as a waiver of any right, power or remedy of the Administrative Agent, the Collateral Agent or any Lender under the Existing Credit Agreement or any of the other Loan Documents.
		

		
			Section 6.2.     Release.  As a material part of the consideration for the Administrative Agent, the Collateral Agent and the Lenders entering into this Third Amendment, the Borrower and each other Loan Party (collectively, the “Releasors”) agree as follows (the “Release Provision”):
		

		
			(a)        Other than with respect to the agreements of the Lenders specifically set forth herein, the Releasors, jointly and severally, hereby release and forever discharge the Administrative Agent, the Collateral Agent, each Lender and the Administrative Agent’s,
		

		
			
		

		
			

		 

		

			10

		

		

		
			 
		

		
			the Collateral Agent’s and each Lender’s predecessors, successors, assigns, participants, officers, managers, directors, shareholders, partners, employees, agents, attorneys and other professionals, representatives, parent corporations, subsidiaries, and affiliates (hereinafter all of the above collectively referred to as the “Lender Group”), 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 and whether arising at law or in equity, presently possessed, whether known or unknown, whether liability be direct or indirect, liquidated or unliquidated, presently accrued, whether absolute or contingent, foreseen or unforeseen, and whether or not heretofore asserted arising out of, arising under or related to the Loan Documents (collectively, the “Claims”), that Releasors may have or allege to have against any or all of the Lender Group and that arise from events occurring before the date hereof.
		

		
			(b)       The Releasors agree not to sue any of the Lender Group nor in any way assist any other person or entity in suing the Lender Group with respect to any of the Claims released herein.  The Release Provision may be pleaded as a full and complete defense to, and may be used as the basis for an injunction against, any action, suit, or other proceeding which may be instituted, prosecuted, or attempted in breach of the release contained herein.
		

		
			(c)        The Releasors acknowledge, warrant, and represent to Lender Group that:
		

		
			(i)         The Releasors have read and understand the effect of the Release Provision.  The Releasors have had the assistance of independent counsel of their own choice, or have had the opportunity to retain such independent counsel, in reviewing, discussing, and considering all the terms of the Release Provision; and if counsel was retained, counsel for Releasors has read and considered the Release Provision and advised Releasors with respect to the same.  Before execution of this Third Amendment, the Releasors have had adequate opportunity to make whatever investigation or inquiry they may deem necessary or desirable in connection with the subject matter of the Release Provision.
		

		
			(ii)       The Releasors are not acting in reliance on any representation, understanding, or agreement not expressly set forth herein.  The Releasors acknowledge that Lender Group has not made any representation with respect to the Release Provision except as expressly set forth herein.
		

		
			(iii)      The Releasors have executed this Third Amendment and the Release Provision thereof as a free and voluntary act, without any duress, coercion, or undue influence exerted by or on behalf of any person or entity.
		

		
			(iv)       The Releasors are the sole owners of the Claims released by the Release Provision, and the Releasors have not heretofore conveyed or assigned any interest in any such Claims to any other person or entity.
		

		
			(d)       The Releasors understand that the Release Provision was a material consideration in the agreement of the Administrative Agent, the Collateral Agent and each Lender to enter into this Third Amendment.
		

		
			
		

		
			

		 

		

			11

		

		

		
			 
		

		
			(e)        It is the express intent of the Releasors that the release and discharge set forth in the Release Provision be construed as broadly as possible in favor of Lender Group so as to foreclose forever the assertion by the Releasors of any Claims released hereby against Lender Group.
		

		
			(f)        If any term, provision, covenant, or condition of the Release Provision is held by a court of competent jurisdiction to be invalid, illegal, or unenforceable, the remainder of the provisions shall remain in full force and effect.
		

		
			(g)        The Releasors acknowledge that they may hereafter discover facts in addition to or different from those that they now know or believe with respect to the Claims released herein, but the Releasors expressly shall have and intend to fully, finally and forever have released and discharged any and all such Claims.  The Releasors expressly waive any provision of statutory or decisional law to the effect that a general release does not extend to Claims that the releasing party does not know or suspect to exist in such party’s favor at the time of executing the release.
		

		
			Section 6.3.   Guarantor’s Acknowledgement and Agreement. By signing below, each Guarantor (a) acknowledges, consents and agrees to this Third Amendment, (b) acknowledges and agrees that its obligations in respect of the Guarantee, the Security Agreement and the other Collateral Documents are not released, diminished, waived, modified or impaired in any manner by this Third Amendment or any of the provisions contemplated herein, (c) ratifies and confirms its obligations under the Guarantee, the Security Agreement and the other Collateral Documents, and (d) acknowledges and agrees that it has no claims or offsets against, or defenses or counterclaims to, the Guarantee, the Security Agreement, any other Collateral Documents or any other Loan Documents or Obligations.
		

		
			Section 6.4.     Fees. The Borrower hereby affirms its obligation under the Credit Agreement to reimburse the Administrative Agent, the Collateral Agent and the Lenders for all reasonable and documented out‐of‐pocket costs and expenses incurred in connection with the preparation, negotiation, execution and delivery of this Third Amendment, including but not limited to all Attorney Costs.
		

		
			Section 6.5.    Headings.  The headings in this Third Amendment are included for convenience of reference only and will not affect in any way the meaning or interpretation of this Third Amendment.
		

		
			Section 6.6.    Governing Law.  This Third Amendment, and all claims, disputes and matters arising hereunder or thereunder or related hereto or thereto, will be governed by, and construed in accordance with, the laws of the State of New York applicable to contracts executed in and to be performed entirely within that state.
		

		
			Section 6.7.     Counterparts.  This Third Amendment may be executed in any number of counterparts and by different parties on separate counterparts, each of which, when executed and delivered, shall be deemed to be an original, and all of which, when taken together, shall constitute but one and the same Third Amendment.  Delivery of an executed counterpart of this Third
		

		
			
		

		
			

		 

		

			12

		

		

		
			 
		

		
			Amendment by facsimile or a scanned copy by electronic mail shall be equally as effective as delivery of an original executed counterpart of this Third Amendment.
		

		
			Section 6.8.     Severability.  If any term or other provision of this Third Amendment is invalid, illegal or incapable of being enforced by any rule of law, or public policy, all other conditions and provisions of this Third Amendment will nevertheless remain in full force and effect so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner adverse to any party.  Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced, the parties hereto will negotiate in good faith to modify this Third Amendment so as to effect the original intent of the parties as closely as possible in an acceptable manner to the end that the transactions contemplated hereby are fulfilled to the extent possible.
		

		
			Section 6.9.     Binding Effect.  This Third Amendment will be binding upon and inure to the benefit of and is enforceable by the respective successors and permitted assigns of the parties hereto.
		

		
			 [Remainder of page intentionally left blank; signatures on following pages.]
		

		
			 
		

		
			 
		

		
			

		 

		

			13

		

		

		
			 
		

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

			
					
						 

					
					
						WILLIAMS INDUSTRIAL SERVICES GROUP, INC.,

				
	
					
						 

					
					
						as Borrower

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						By:

					
					
						/s/ Randall R. Lay

				
	
					
						 

					
					
						 

					
					
						Randall R. Lay

				
	
					
						 

					
					
						 

					
					
						Chief Financial Officer

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						Acknowledged and agreed:

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						GLOBAL POWER PROFESSIONAL SERVICES INC.

				
	
					
						 

					
					
						WILLIAMS INDUSTRIAL SERVICES GROUP, L.L.C.

				
	
					
						 

					
					
						WILLIAMS INDUSTRIAL SERVICES, LLC

				
	
					
						 

					
					
						WILLIAMS SPECIALTY SERVICES, LLC

				
	
					
						 

					
					
						WILLIAMS PLANT SERVICES, LLC

				
	
					
						 

					
					
						WILLIAMS GLOBAL SERVICES, INC.

				
	
					
						 

					
					
						CONSTRUCTION & MAINTENANCE PROFESSIONALS, LLC

				
	
					
						 

					
					
						BRADEN HOLDINGS, LLC

				
	
					
						 

					
					
						STEAM ENTERPRISES LLC

				
	
					
						 

					
					
						GPEG, LLC, each as Guarantor

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						By:

					
					
						/s/ Randall R. Lay

				
	
					
						 

					
					
						 

					
					
						Randall R. Lay

				
	
					
						 

					
					
						 

					
					
						Chief Financial Officer

				

		
			
		

		

		 

		

			14

		

	
					
						

					
						 

					
					
						CENTRE LANE PARTNERS MASTER CREDIT FUND II, L.P., as Administrative Agent and Collateral Agent, and as a Lender

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						By:

					
					
						/s/ Luke Gosselin

				
	
					
						 

					
					
						Name: Luke Gosselin

				
	
					
						 

					
					
						Title: Managing Director

				

		
			 
		

		 

		

			15wlms_EX_1021

		
			Exhibit 10.21
		

		
			 
		

		
			AMENDMENT NO. 1 TO CREDIT AND SECURITY AGREEMENT
		

		
			This AMENDMENT NO. 1 TO CREDIT AND SECURITY AGREEMENT (this “Agreement”) is made as of October 16, 2019 (the “First Amendment Closing Date”), by and among WILLIAMS INDUSTRIAL SERVICES GROUP INC., a Delaware corporation  (the “Company”), each of its direct and indirect Subsidiaries set forth on the signature pages hereto as a “Borrower” (together with the Company, collectively, the “Borrowers” and each individually, a “Borrower”), MidCap Funding IV Trust, a Delaware statutory trust, individually as a Lender and as Agent (in such capacity, together with its successors and assigns, “Agent”) and the other financial institutions or other entities from time to time parties to the Credit Agreement referenced below, each as a Lender.
		

		
			RECITALS
		

		
			A.          Agent, Lenders and Borrower have entered into that certain Credit and Security Agreement, dated as of October 11, 2018 (the “Original Credit Agreement” and as amended hereby and as it may be further amended, modified, supplemented and restated from time to time, the “Credit Agreement”), pursuant to which the Lenders have agreed to make certain advances of money and to extend certain financial accommodations to Borrowers in the amounts and manner set forth in the Credit Agreement.
		

		
			B.          Borrower has requested, and Agent and all Lenders have agreed, to amend certain provisions of the Original Credit Agreement, all in accordance with the terms and subject to the conditions set forth herein.
		

		
			AGREEMENT
		

		
			NOW, THEREFORE, in consideration of the foregoing, the terms and conditions set forth in this Agreement, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Agent, Lenders and Borrower hereby agree as follows:
		

		
			1.          Recitals.  This Agreement shall constitute a Financing Document and the Recitals and each reference to the Credit Agreement, unless otherwise expressly noted, will be deemed to reference the Original Credit Agreement as amended hereby.  The Recitals set forth above shall be construed as part of this Agreement as if set forth fully in the body of this Agreement and capitalized terms used but not otherwise defined herein shall have the meanings ascribed to them in the Credit Agreement (including those capitalized terms used in the Recitals hereto).
		

		
			2.          Amendments to Original Credit Agreement.  Subject to the terms and conditions of this Agreement, including, without limitation, the conditions to effectiveness set forth in Section 4 below, the Original Credit Agreement is hereby amended as follows:
		

		
			(a)         The definition of “Borrowing Base” in Section 1.1 of the Original Credit Agreement is hereby amended and restated in its entirety as follows:
		

		
			“"Borrowing Base" means:
		

		
			(i)          the product of (i) eighty-five percent (85%) multiplied by (ii) the aggregate net amount at such time of the Eligible Accounts; plus
		

		
			
		

		
			

		 

		

		
			 
		

		
			(ii)         the lesser of (i) $1,000,000 and (ii) the product of (1) eighty percent (80%) multiplied by (2) the aggregate net amount at such time of the Eligible Costs in Excess of Billings; minus
		

		
			(c)         the amount of the Dilution Reserve (if any), the Liquidity Reserve and any other reserves and/or adjustments determined by Agent in its Permitted Discretion.”
		

		
			(b)         The definition of “Liquidity” in Section 1.1 of the Original Credit Agreement is hereby amended and restated in its entirety as follows:
		

		
			“Liquidity” means, as of any date of calculation, unrestricted cash and cash equivalents permitted in accordance with GAAP, plus any Revolving Loan Availability, plus if Revolving Loan Availability has been calculated on the basis of clause (b) of the definition of  “Revolving Loan Limit”, the Liquidity Reserve.
		

		
			(c)         The following definition of “Amendment No. 1” is hereby added to Section 1.1 of the Original Credit Agreement:
		

		
			“’Amendment No. 1’ means that certain Amendment No. 1 to Credit and Security Agreement, dated as of October 16, 2019, by and among the Borrowers, the Agent and the Lenders.”
		

		
			(d)         The following definition of “Liquidity Reserve” is hereby added to Section 1.1 of the Original Credit Agreement:
		

		
			“’Liquidity Reserve’ means $500,000.”
		

		
			(e)         The definition of “Foreign Subsidiary Cash Trigger Date” in Section 1.1 of the Original Credit Agreement is hereby amended to replace the reference to “$2,000,000” therein with “$5,000,000”.
		

		
			(f)         Clause (j) of the definition of “Permitted Investments” in Section 1.1 of the Original Credit Agreement is hereby amended and restated in its entirety as follows:
		

		
			“(j) Investments of cash and cash equivalents by a Credit Party in an Excluded Foreign Subsidiary made prior to the Foreign Subsidiary Cash Trigger Date, but solely to the extent that the aggregate amount of such Investments made with respect to all Excluded Foreign Subsidiaries does not, at any time, exceed $3,000,000 at any time outstanding; provided that for the avoidance of doubt, no such Investments shall be permitted on and after the Foreign Subsidiary Cash Trigger Date;”
		

		
			(g)         Article IV in the Original Credit Agreement is hereby amended by adding a new Section 4.16 at the end thereof as follows:
		

		
			“Section 4.16     Amendment No. 1 Post-Closing Conditions.  The Borrowers shall take all such actions set forth in Section 5 of Amendment No. 1 within the time periods set forth therein.”
		

		
			(h)         Section 5.17(a) in the Original Credit Agreement is hereby amended to replace the reference to “$2,000,000” therein with “$5,000,000”.
		

		
			
		

		
			

		 

		

		
			 
		

		
			(i)          Section 10.1(a)(ii) in the Original Credit Agreement is hereby amended by adding “, Section 4.16” after the reference to “Section 4.6”.
		

		
			 
		

		
			(j)          The calculation of Minimum Liquidity in Attachment 3 to Exhibit B (Compliance Certificate) of the Original Credit Agreement is hereby amended and restated in its entirety as follows:
		

		
			 
		

		
			“unrestricted cash and Cash Equivalents permitted in accordance with GAAP and reflected on the balance sheet of the Borrowers and their Domestic Subsidiaries on a consolidated basis, plus any Revolving Loan Availability, plus the Liquidity Reserve, in each case as of the last day of each month”
		

		
			 
		

		
			(k)         Exhibit C to the Original Credit Agreement is hereby replaced in its entirety with the Form of Borrowing Base Certificate attached hereto as Exhibit A.
		

		
			 
		

		
			3.            Representations and Warranties; Reaffirmation of Security Interest.  Each Borrower hereby confirms that all of the representations and warranties set forth in the Credit Agreement are true and correct in all material respects (without duplication of any materiality qualifier in the text of such representation or warranty) with respect to such Borrower as of the date hereof except to the extent that any such representation or warranty relates to a specific date in which case such representation or warranty shall be true and correct in all material respects (or, in the case of any representation or warranty that is, by its terms, qualified by materiality, in all respects) as of such earlier date.   Nothing herein is intended to impair or limit the validity, priority or extent of Agent’s security interests in and Liens on the Collateral.  Each Borrower acknowledges and agrees that the Credit Agreement, the other Financing Documents and this Agreement constitute the legal, valid and binding obligation of such Borrower, and are enforceable against such Borrower in accordance with its terms, except as the enforceability thereof may be limited by bankruptcy, insolvency or other similar laws relating to the enforcement of creditors’ rights generally and by general equitable principles.
		

		
			4.          Conditions to Effectiveness.  This Agreement shall become effective as of the date on which each of the following conditions have been satisfied, as determined by Agent in its sole discretion:
		

		
			(a)         each Borrower shall have delivered to Agent this Agreement, executed by an authorized officer of such Borrower;
		

		
			(b)         each Borrower shall have delivered to Agent a duly executed copy of an amendment to the Term Loan Credit Agreement, in form and substance reasonably satisfactory to Agent;
		

		
			(c)         all representations and warranties of Borrowers contained herein shall be true and correct in all material respects (without duplication of any materiality qualifier in the text of such representation or warranty) as of the date hereof except to the extent that any such representation or warranty relates to a specific date in which case such representation or warranty shall be true and correct in all material respects (or, in the case of any representation or warranty that is, by its terms, qualified by materiality, in all respects)as of such earlier date (and such parties’ delivery of their respective signatures hereto shall be deemed to be its certification thereof); and
		

		
			(d)         prior to and after giving effect to the agreements set forth herein, no Default or Event of Default shall exist under any of the Financing Documents.
		

		
			5.         Post-Closing Obligations.  Within ten (10) Business Days (or such later time as the  Agent may agree in its reasonable discretion) of the earlier of (i) the cessation by the Company of
		

		
			
		

		
			

		 

		

		
			 
		

		
			the refinancing process being undertaken by the Company as of the date hereof and (ii) November 25, 2019, the Company shall:
		

		
			(a)        cause each of WISG Canada Ltd., a British Columbia, Canada corporation, WISG Nuclear Ltd., a British Columbia, Canada corporation and WISG Electrical Ltd., a British Columbia, Canada corporation (collectively, the “Canadian Subsidiaries” and each, a “Canadian Subsidiary”) to become Guarantors under the Original Credit Agreement and to execute and deliver to the Agent, a Guarantee, in form and substance reasonably acceptable to the Agent, jointly and severally guaranteeing the Obligations of the other Credit Parties under the Financing Documents;
		

		
			(b)        cause each Canadian Subsidiary to execute and deliver such assignments, pledges and security agreements as specified by, and in form and substance reasonably satisfactory to the Agent, in each case, securing the payment of all Obligations of such Canadian Subsidiaries under the Financing Documents and granting Liens on all personal properties of such Canadian Subsidiary;
		

		
			(c)        take and cause each Canadian Subsidiary to take or cause to be taken, whatever action (including, without limitation, the filing of Personal Property Security Act (Ontario) financing statements, the giving of notices and the endorsement of notices on title documents) may be necessary or advisable in the reasonable opinion of the Agent to vest in the Agent (or in any representative of the Agent designated by it) valid, perfected Liens on the properties purported to be subject to the pledges, assignments and security agreements delivered pursuant to Section 5(b), enforceable against all third parties in accordance with their terms, subject to Permitted Liens;
		

		
			(d)        cause Williams Industrial Services Group, L.L.C. to execute and deliver to the Agent, a supplement to the relevant Financing Document (or another pledge agreement in substantially identical form, if needed) pledging 100% of the Equity Interests held by Williams Industrial Services Group, L.L.C. in WISG Canada Ltd. and with all documents delivered pursuant to this Section 5(d) to be in form, scope and substance reasonably satisfactory to the Collateral Agent;
		

		
			(e)        do, execute, acknowledge, deliver, record, file and register any and all such further acts, deeds, conveyances, pledge agreements, deeds of trust, trust deeds, assignments, financing statements, notices of assignment, transfers, certificates, collateral access agreements, assurances and other instruments as the Agent may reasonably require from in order to carry out more effectively the purposes of this Section 5, and cause each of the Canadian Subsidiaries to do so.
		

		
			6.          Fees.  In consideration of Agent’s agreement to enter into this Agreement, Borrower agrees to pay Agent, for the benefit of all Revolving Lenders in accordance with their Pro Rata Share of the Revolving Loan Commitments, an amendment fee in the amount of $5,000 (the “Amendment Fee”).  Such Amendment Fee shall be due and payable on the First Amendment Closing Date and, once paid, is non-refundable.  Borrowers hereby authorize Agent to deduct the Amendment Fee from the proceeds of one or more Revolving Loans made under the Credit Agreement.
		

		
			
		

		
			

		 

		

		
			 
		

		
			7.          Release.  In consideration of the agreements of Agent and Lenders contained herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, other than with respect to the agreements of the Lenders specifically set forth herein, each Borrower, voluntarily, knowingly, unconditionally and irrevocably, with specific and express intent, does hereby fully and completely release, acquit and forever discharge each of Agent, Lenders, and each their respective parents, subsidiaries, affiliates, members, managers, shareholders, directors, officers and employees, and each of their respective predecessors, successors, heirs, and assigns (individually and collectively, the “Released Parties”), of and from any and all actions, causes of action, suits, debts, disputes, damages, claims, obligations, liabilities, costs, expenses and demands of any kind whatsoever, at law or in equity, whether matured or unmatured, liquidated or unliquidated, vested or contingent, choate or inchoate, known or unknown, arising out of, arising under or related to the Financing Documents that such Borrower has against the Released Parties or any of them (whether directly or indirectly)and that arise from events occurring before the date hereof.  Borrower acknowledges that the foregoing release is a material inducement to Agent’s and each Lender’s decision to enter into this Agreement and agree to the modifications contemplated hereunder, and has been relied upon by Agent and Lenders in connection therewith.
		

		
			8.          No Waiver or Novation.  The execution, delivery and effectiveness of this Agreement shall not, except as expressly provided in this Agreement, operate as a waiver of any right, power or remedy of Agent, nor constitute a waiver of any provision of the Original Credit Agreement, the other Financing Documents or any other documents, instruments and agreements executed or delivered in connection with any of the foregoing.  Nothing herein is intended or shall be construed as a waiver of any existing Defaults or Events of Default under the Credit Agreement or the other Financing Documents or any of Agent’s rights and remedies in respect of such Defaults or Events of Default.  This Agreement (together with any other document executed in connection herewith) is not intended to be, nor shall it be construed as, a novation of the Credit Agreement.
		

		
			9.          Affirmation.  Except as specifically amended pursuant to the terms hereof, each Borrower hereby acknowledges and agrees that the Original Credit Agreement and all other Financing Documents (and all covenants, terms, conditions and agreements therein) shall remain in full force and effect, and are hereby ratified and confirmed in all respects by such Borrower.  Each Borrower covenants and agrees to comply with all of the terms, covenants and conditions of the Original Credit Agreement and the other Financing Documents, notwithstanding any prior course of conduct, waivers, releases or other actions or inactions on Agent’s or any Lender’s part which might otherwise constitute or be construed as a waiver of or amendment to such terms, covenants and conditions.
		

		
			10.        Miscellaneous.
		

		
			(a)         Reference to the Effect on the Credit Agreement.  Upon the effectiveness of this Agreement, each reference in the Original Credit Agreement to “this Agreement,” “hereunder,” “hereof,” “herein,” or words of similar import shall mean and be a reference to the Original Credit Agreement, as amended by this Agreement.  Except as specifically amended above, the Original Credit Agreement, and all other Financing Documents (and all covenants, terms, conditions and agreements therein), shall remain in full force and effect, and are hereby ratified and confirmed in all respects by each Borrower.
		

		
			(b)         Governing Law.  THIS AGREEMENT AND ALL DISPUTES AND OTHER MATTERS RELATING HERETO OR ARISING THEREFROM (WHETHER SOUNDING IN CONTRACT LAW, TORT LAW OR OTHERWISE), SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW
		

		
			
		

		
			

		 

		

		
			 
		

		
			YORK, WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPLES (OTHER THAN SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW).
		

		
			(c)         Incorporation of Credit Agreement Provisions.  The provisions contained in Section 11.6 (Indemnification), Section 12.8(b) (Submission to Jurisdiction) and Section 12.9 (Waiver of Jury Trial) of the Credit Agreement are incorporated herein by reference to the same extent as if reproduced herein in their entirety.
		

		
			(d)         Headings.  Section headings in this Agreement are included for convenience of reference only and shall not constitute a part of this Agreement for any other purpose.
		

		
			(e)         Counterparts.  This Agreement may be signed in any number of counterparts, each of which shall be deemed an original and all of which when taken together shall constitute one and the same instrument.  Delivery of an executed counterpart of this Agreement by facsimile or by electronic mail delivery of an electronic version (e.g., .pdf or .tif file) of an executed signature page shall be effective as delivery of an original executed counterpart hereof and shall bind the parties hereto.
		

		
			(f)         Entire Agreement.          This Agreement constitutes the entire agreement and understanding among the parties hereto and supersedes any and all prior agreements and understandings, oral or written, relating to the subject matter hereof.
		

		
			(g)         Severability.  In case any provision of or obligation under this Agreement shall be invalid, illegal or unenforceable in any applicable jurisdiction, the validity, legality and enforceability of the remaining provisions or obligations, or of such provision or obligation in any other jurisdiction, shall not in any way be affected or impaired thereby.
		

		
			(h)         Successors/Assigns.  This Agreement shall bind, and the rights hereunder shall inure to, the respective successors and assigns of the parties hereto, subject to the provisions of the Credit Agreement and the other Financing Documents.
		

		
			[SIGNATURES APPEAR ON FOLLOWING PAGES]
		

		
			 
		

		
			
		

		
			

		 

		

		
			 
		

		
			IN WITNESS WHEREOF, intending to be legally bound, and intending that this document constitute an agreement executed under seal, the undersigned have executed this Agreement under seal as of the day and year first hereinabove set forth.
		

		
			 
		

			
					
						AGENT:

					
					
						MIDCAP FUNDING IV TRUST,

				
	
					
						 

					
					
						as Agent

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						By:        Apollo Capital Management, L.P.,

				
	
					
						 

					
					
						its investment manager

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						By:        Apollo Capital Management GP, LLC,

				
	
					
						 

					
					
						its general partner

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						By:

					
					
						/s/ Maurice Amsellem

				
	
					
						 

					
					
						Name: Maurice Amsellem

				
	
					
						 

					
					
						Title: Authorized Signatory

				
	
					
						 

					
					
						 

				
	
					
						LENDER:

					
					
						MIDCAP FUNDING IV TRUST,

				
	
					
						 

					
					
						as a Lender

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						By:        Apollo Capital Management, L.P.,

				
	
					
						 

					
					
						its investment manager

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						By:        Apollo Capital Management GP, LLC,

				
	
					
						 

					
					
						its general partner

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						By:

					
					
						/s/ Maurice Amsellem

				
	
					
						 

					
					
						Name: Maurice Amsellem

				
	
					
						 

					
					
						Title: Authorized Signatory

				

		
			 
		

		
			 
		

		
			[Signatures Continue on Following Page]
		

		
			 
		

		
			
		

		
			

		 

		

		
			 
		

		
			BORROWERS:
		

		
			 
		

		
			 
		

		
			 
		

			
					
						 

					
					
						WILLIAMS INDUSTRIAL SERVICES GROUP INC.

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						By:

					
					
						/s/ Tracy D. Pagliara

				
	
					
						 

					
					
						Name: Tracy D. Pagliara

				
	
					
						 

					
					
						Title: President and Chief Executive Officer

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						GLOBAL POWER PROFESSIONAL SERVICES INC.

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						By:

					
					
						/s/ Tracy D. Pagliara

				
	
					
						 

					
					
						Name: Tracy D. Pagliara

				
	
					
						 

					
					
						Title: Vice President

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						WILLIAMS INDUSTRIAL SERVICES GROUP, L.L.C.

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						By:

					
					
						/s/ Tracy D. Pagliara

				
	
					
						 

					
					
						Name: Tracy D. Pagliara

				
	
					
						 

					
					
						Title: Vice President

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						WILLIAMS INDUSTRIAL SERVICES, LLC

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						By:

					
					
						/s/ Tracy D. Pagliara

				
	
					
						 

					
					
						Name: Tracy D. Pagliara

				
	
					
						 

					
					
						Title: Vice President

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						WILLIAMS SPECIALTY SERVICES, LLC

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						By:

					
					
						/s/ Tracy D. Pagliara

				
	
					
						 

					
					
						Name: Tracy D. Pagliara

				
	
					
						 

					
					
						Title: Vice President

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						WILLIAMS PLANT SERVICES, LLC

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						By:

					
					
						/s/ Tracy D. Pagliara

				
	
					
						 

					
					
						Name: Tracy D. Pagliara

				
	
					
						 

					
					
						Title: Vice President

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						WILLIAMS GLOBAL SERVICES, INC.

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						By:

					
					
						/s/ Tracy D. Pagliara

				
	
					
						 

					
					
						Name: Tracy D. Pagliara

				
	
					
						 

					
					
						Title: Vice President

				

		
			 
		

		
			
		

		
			

		 

		

		
			 
		

			
					
						 

					
					
						CONSTRUCTION & MAINTENANCE PROFESSIONALS, LLC

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						By:

					
					
						/s/ Tracy D. Pagliara

				
	
					
						 

					
					
						Name: Tracy D. Pagliara

				
	
					
						 

					
					
						Title: Vice President

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						BRADEN HOLDINGS, LLC

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						By:

					
					
						/s/ Tracy D. Pagliara

				
	
					
						 

					
					
						Name: Tracy D. Pagliara

				
	
					
						 

					
					
						Title: Vice President

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						STEAM ENTERPRISES, LLC

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						By:

					
					
						/s/ Tracy D. Pagliara

				
	
					
						 

					
					
						Name: Tracy D. Pagliara

				
	
					
						 

					
					
						Title: Vice President

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						GPEG, LLC

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						By:

					
					
						/s/ Tracy D. Pagliara

				
	
					
						 

					
					
						Name: Tracy D. Pagliara

				
	
					
						 

					
					
						Title: Vice President

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00307-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00307-of-00352.parquet"}]]