Document:

exv4w1

Exhibit 4.1

Execution Version

FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

     THIS FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT (this “Amendment”) dated
as of April 7, 2009, is by and among Concho Resources Inc., a Delaware corporation (the
“Borrower”), the Lenders party hereto (the “Lenders”) and JPMorgan Chase Bank,
N.A., as Administrative Agent (in such capacity, the “Administrative Agent”). Unless the
context otherwise requires or unless otherwise expressly defined herein, capitalized terms used but
not defined in this Amendment have the meanings assigned to such terms in the Credit Agreement (as
defined below).

WITNESSETH:

     WHEREAS, the Borrower, the Administrative Agent and the Lenders entered into that certain
Amended and Restated Credit Agreement dated as of July 31, 2008 (as amended, amended and restated,
supplemented or otherwise modified from time to time, the “Credit Agreement”); and

     WHEREAS, the Borrower has requested that the Administrative Agent and the Lenders amend the
Credit Agreement in certain respects and the Administrative Agent and the Required Lenders have
agreed to do so on the terms and conditions hereinafter set forth.

     NOW, THEREFORE, for and in consideration of the mutual covenants and agreements herein
contained and other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged and confessed, the Borrower, the Administrative Agent and the Lenders, hereby
agree as follows:

     SECTION 1. Amendments to Credit Agreement. Subject to the satisfaction or waiver in writing of
each condition precedent set forth in Section 2, and in reliance on the representations,
warranties, covenants and agreements contained in this Amendment, the Credit Agreement shall be
amended in the manner provided in this Section 1.

     1.1 Amended Definitions. The following definitions in Section 1.01 of the Credit
Agreement shall be and they hereby are amended and restated in their entirety to read as follows:

     “Alternate Base Rate ” means, for any day, a rate per annum equal to the
greatest of (a) the Prime Rate in effect on such day, (b) the Federal Funds Effective Rate
in effect on such day plus one-half of one percent (1⁄2 of 1%) and (c) the LMIR on such day
plus 1%. Any change in the Alternate Base Rate due to a change in the Prime Rate, the
Federal Funds Effective Rate or the LMIR shall be effective from and including the
effective date of such change in the Prime Rate, the Federal Funds Effective Rate or the
LMIR, respectively.

     “Applicable Rate” means, for any day, with respect to any ABR Loan or
Eurodollar Loan, or with respect to the Unused Commitment Fees, as the case may be, the
applicable rate per annum set forth below under the caption “ABR Spread” , “Eurodollar
Spread” or “Unused Commitment Fee “, as the case may be, based upon the Borrowing Base
Usage as set forth below:

First Amendment to Amended and Restated Credit Agreement - Page 1

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Borrowing	 	 	 	Eurodollar	 	 	 	 	 	Unused
	Base Usage	 	 	 	Spread	 	ABR Spread	 	Commitment Fee
	 	390	%	 	 
	 	 	3.00	%	 	 	2.125	%	 	 	0.50	%
	375% and <90%	 	 
	 	 	2.75	%	 	 	1.875	%	 	 	0.50	%
	350% and <75%	 	 
	 	 	2.50	%	 	 	1.625	%	 	 	0.50	%
	325% and <50%	 	 
	 	 	2.25	%	 	 	1.375	%	 	 	0.50	%
	 	<25	%	 	 
	 	 	2.00	%	 	 	1.125	%	 	 	0.50	%

Each change in the Applicable Rate shall apply during the period commencing on the
effective date of such change and ending on the date immediately preceding the effective
date of the next change.

     “Defaulting Lender” means any Lender, as reasonably determined by the
Administrative Agent, that has (a) failed to fund any portion of the participations in L/C
Obligations or participations in Swing Line Loans required to be funded by it hereunder
within one Business Day of the date required to be funded by it hereunder, (b) failed to
fund any portion of the Revolving Loans required to be funded by it hereunder within one
Business Day of the date required to be funded by it hereunder, unless the subject of a good
faith dispute, (c) notified the Borrower, the Administrative Agent, the L/C Issuer, the
Swing Line Lender or any other Lender in writing that it does not intend to comply with any
of its funding obligations under this Agreement or has made a public statement to the effect
that it does not intend to comply with its funding obligations under this Agreement, (d)
otherwise failed to pay over to the Administrative Agent or any other Lender any other
amount required to be paid by it hereunder within one Business Day of the date when due,
unless the subject of a good faith dispute, or (e) (i) become or is insolvent or has a
parent company that has become or is insolvent or (ii) become the subject of a bankruptcy or
insolvency proceeding, or has had a receiver, conservator, trustee or custodian appointed
for it, or has taken any action in furtherance of, or indicating its consent to, approval of
or acquiescence in any such proceeding or appointment or has a parent company that has
become the subject of a bankruptcy or insolvency proceeding, or has had a receiver,
conservator, trustee or custodian appointed for it, or has taken any action in furtherance
of, or indicating its consent to, approval of or acquiescence in any such proceeding or
appointment.

     “Letter of Credit” means any standby letter of credit issued hereunder and, to
the extent outstanding on the Closing Date, any letter of credit issued under the Original
Credit Agreement, including Letter of Credit No. CTCS 282668, dated September 22, 2006,
issued by JPMorgan Chase Bank, N.A. for the account of Henry Petroleum LP and Letter of
Credit No. CTCS 324916, dated April 19, 2007, issued by JPMorgan Chase Bank, N.A. for the
account of Henry Petroleum LP, and any renewals of any of the foregoing letters of credit
after the Closing Date.

First Amendment to Amended and Restated Credit Agreement - Page 2

 

 

     1.2 Additional Definitions. The following definitions shall be added in
alphabetical order to Section 1.01 of the Credit Agreement:

     “Cash Collateral Account” means a deposit account with, and in the name of,
the Administrative Agent, for the benefit of the Lenders, established and maintained for
the deposit of cash collateral required under or in connection with this Agreement and the
other Loan Documents.

     “LMIR ” means, for any day, a rate per annum equal to the rate for one month
U.S. dollar deposits as reported on Page 3750 of the Dow Jones Market Service (formerly
known as the Telerate Service) as of 11:00 a.m., London time, on such day, or if such day is
not a Business Day, then the immediately preceding Business Day (or if not so reported, then
any successor to or substitute for such Service, providing rate quotations comparable to
those currently provided on such page of such Service, as determined by the Administrative
Agent from time to time for purposes of providing quotations of interest rates applicable to
dollar deposits in the London interbank market).

     1.3 Cash Collateralization. Section 2.04(j) of the Credit Agreement shall be and it
hereby is amended in its entirety to read as follows:

     (j) Cash Collateralization.

     (i) If any Event of Default shall occur and be continuing, on the Business Day that the
Borrower receives notice from the Administrative Agent or the Required Lenders (or, if the
maturity of the Loans has been accelerated, Lenders with L/C Exposure representing greater
than sixty-six and two-thirds percent (66-2/3%) of the total L/C Exposure) demanding the
deposit of cash collateral pursuant to this paragraph, the Borrower shall deposit in the
Cash Collateral Account an amount in cash equal to the total L/C Exposure as of such date
plus any accrued and unpaid interest thereon; provided that the obligation to
deposit such cash collateral shall become effective immediately, and such deposit shall
become immediately due and payable, without demand or other notice of any kind, upon the
occurrence of any Event of Default with respect to the Borrower described in clause (f) or
(g) of Section 8.01.

     (ii) Deposits in the Cash Collateral Account made pursuant to the foregoing paragraph
(i) and Section 2.21 shall be held by the Administrative Agent as collateral for the payment
and performance of the obligations of the Borrower under this Agreement and the Borrower
hereby grants a security interest in such cash and each deposit account into which such cash
is deposited and all proceeds, including cash and non-cash proceeds of the foregoing, to
secure the Obligations. The Administrative Agent shall have exclusive dominion and control,
including the exclusive right of withdrawal, over the Cash Collateral Account. Other than
any interest earned on the investment of such deposits and interest at the rate per annum in
effect for accounts of the same type maintained with the Administrative Agent at such time,
which investments shall be made at the option and sole discretion of the Administrative
Agent and at the Borrower’s risk and expense, such deposits shall not bear interest.
Interest or profits, if any, on such

First Amendment to Amended and Restated Credit Agreement - Page 3

 

 

investments shall accumulate in and be credited to such account for the benefit of the
Borrower and shall become a part thereof for all purposes. Any taxes payable on such
interest or profits shall be attributed to and paid by the Borrower. Moneys in such account
shall be applied by the Administrative Agent to reimburse the L/C Issuer for L/C
Disbursements for which it has not been reimbursed and, to the extent not so applied, shall
be held for the satisfaction of the reimbursement obligations of the Borrower for the L/C
Exposure at such time or, if the maturity of the Loans has been accelerated (but subject to
the consent of Lenders with L/C Exposure representing sixty-six and two-thirds percent
(66-2/3%) or more of the total L/C Exposure), be applied to satisfy other Obligations and
to the extent any excess remains after payment in full in cash of all Obligations and the
termination of all Commitments, such excess shall be released to the Borrower.

     (iii) If the Borrower is required to provide cash collateral pursuant to paragraph (i)
above or Section 2.21, the amount of such cash collateral (to the extent not applied as
aforesaid) shall be returned to the Borrower within three (3) Business Days after (x) in
the case of cash collateral provided pursuant to paragraph (i) above, all Events of Default
have been cured or waived and (y) in the case of cash collateral provided pursuant to
Section 2.21, the applicable Defaulting Lender is no longer a Defaulting Lender.

     1.4 Defaulting Lender Participation Fees. The following shall be and it hereby is
added to the end of Section 2.12(b) of the Credit Agreement:

Notwithstanding anything to the contrary contained herein, for so long as any Lender is a
Defaulting Lender hereunder and, to the extent required, the Borrower has cash
collateralized such Defaulting Lender’s portion of the total L/C Exposure pursuant to
Section 2.21, the portion of the participation fees attributable to such Defaulting Lender
pursuant to clause (i) of this Section 2.12(b) shall cease to accrue pursuant to the terms
of this Section 2.12(b) and the Borrower shall have no obligation to pay any participation
fees to the Administrative Agent for the account of such Defaulting Lender for the period of
time such Lender is a Defaulting Lender and, to the extent required, such Defaulting
Lender’s portion of the total L/C Exposure is cash collateralized pursuant to Section 2.21;
provided, however, that in the event the Borrower has not cash collateralized any Defaulting
Lender’s portion of the total L/C Exposure pursuant to, and as required under, Section 2.21,
then, without prejudice to any rights or remedies of the L/C Issuer or any Lender hereunder,
all participation fees accruing during the period of time such Lender is a Defaulting Lender
that otherwise would have been payable for the account of such Defaulting Lender pursuant to
clause (i) of this Section 2.12(b) shall be payable to the L/C Issuer for the account of the
L/C Issuer until such Defaulting Lender’s L/C Exposure is cash collateralized pursuant to,
and as required under, Section 2.21.

     1.5 Defaulting Lenders. The following shall be and it hereby is added to the end of
Article II as Section 2.21 of the Credit Agreement:

     2.21 Defaulting Lenders. Notwithstanding any provision of this Agreement to
the contrary, if any Lender becomes a Defaulting Lender, then the following provisions

First Amendment to Amended and Restated Credit Agreement - Page 4

 

 

shall apply for so long as such Lender is a Defaulting Lender:

     (a) if any Swingline Exposure or L/C Exposure exists at the time a Lender is a
Defaulting Lender, the Borrower shall within three (3) Business Days following notice by
the Administrative Agent (i) prepay such Swingline Exposure or, if agreed by the Swingline
Lender, cash collateralize the Swingline Exposure of the Defaulting Lender on terms
satisfactory to the Swingline Lender and (ii) cash collateralize such Defaulting Lender’s
L/C Exposure in accordance with procedures set forth in Section 2.04(j) for so long as such
L/C Exposure is outstanding;

     (b) the Swingline Lender shall not be required to fund any Swingline Loan and the
L/CIssuer shall not be required to issue, amend or increase any Letter of Credit unless it
is satisfied that cash collateral will be provided by the Borrower in accordance with
Section 2.21(a); and

     (c) all cash collateral provided by the Borrower in accordance with Section 2.21(a)
shall be deposited in the Cash Collateral Account.

     1.6 Title Confirmation. Section 6.14 of the Credit Agreement shall be and it
hereby is amended in its entirety to read as follows:

     6.14 Delivery of Title Opinions. As and when requested by the Administrative
Agent, deliver to the Administrative Agent such reports, opinions of counsel (which opinions
are not required to be addressed to the Administrative Agent) and other evidence of title as
the Administrative Agent shall deem reasonably necessary or appropriate to verify (i) clear
and valid title (except for such defects in title as could not, individually or in the
aggregate, reasonably be expected to have a Material Adverse Effect) of the Borrower and its
Restricted Subsidiaries to not less than eighty percent (80%) of the Engineered Value of the
Borrowing Base Properties that are required to be subject to a Mortgage pursuant to Section
6.16(c) and at least the working interest and net revenue interest in such oil and gas
properties set forth in the most recent Engineering Report and (ii) the validity, perfection
and priority of the Liens created by the Mortgages and Security Instruments and such other
matters regarding such Mortgages as Administrative Agent shall reasonably request, except
that opinions of counsel regarding priority of the Liens shall not be required.

     1.7 Redetermined Borrowing Base. This Amendment shall constitute a notice of
the Redetermination of the Borrowing Base pursuant to Section 3.02 of the Credit
Agreement, and the Administrative Agent hereby notifies the Borrower that, as of the date of this
Amendment, the redetermined Borrowing Base is $960,000,000.

SECTION 2. Conditions. The amendments to the Credit Agreement contained in Section 1 of
this Amendment and the redetermination of the Borrowing Base as set forth in Section 1 of
this Amendment shall be effective upon the satisfaction of each of the conditions set forth in
this Section 2.

First Amendment to Amended and Restated Credit Agreement - Page 5

 

 

     2.1 Execution and Delivery. Each Loan Party and the Required Lenders shall have executed and
delivered this Amendment and any other documents requested by the Administrative Agent prior to
the date hereof, all in form and substance satisfactory to the Administrative Agent.

     2.2 No Default. No Default shall have occurred and be continuing.

     2.3 Other Documents. The Administrative Agent shall have received such other instruments and
documents incidental and appropriate to the transaction provided for herein as the Administrative
Agent or its special counsel may reasonably request prior to the date hereof, and all such
documents shall be in form and substance satisfactory to the Administrative Agent.

     2.4 Legal Matters Satisfactory. All legal matters incident to the consummation of the
transactions contemplated hereby shall be reasonably satisfactory to special counsel for the
Administrative Agent retained at the expense of the Borrower.

SECTION 3. Representations and Warranties of the Borrower. To induce the Lenders to enter
into this Amendment, the Borrower hereby represents and warrants to the Lenders as follows:

     3.1 Reaffirmation of Representations and Warranties/Further Assurances. After giving effect
to the amendments herein, each representation and warranty of the Borrower or any Guarantor
contained in the Credit Agreement or in any other Loan Document is true and correct in all
material respects on the date of this Amendment (except to the extent such representations and
warranties relate solely to an earlier date).

     3.2 Corporate Authority; No Conflicts. The execution, delivery and performance by the
Borrower and each Guarantor (to the extent a party hereto or thereto) of this Amendment and all
documents, instruments and agreements contemplated herein are within the Borrower’s or such
Guarantor’s corporate or other organizational powers, have been duly authorized by necessary
action, require no approval, consent or action by or in respect of, or filing with, any court or
agency of government.

     3.3 Enforceability. This Amendment constitutes the valid and binding obligation of the
Borrower enforceable in accordance with its terms, except as (i) the enforceability thereof may be
limited by bankruptcy, insolvency or similar laws affecting creditor’s rights generally, and (ii)
the availability of equitable remedies may be limited by equitable principles of general
application.

SECTION 4. Miscellaneous.

     4.1 Reaffirmation of Loan Documents and Liens. Any and all of the terms and provisions of the
Credit Agreement and the Loan Documents shall, except as amended and modified hereby, remain in
full force and effect. The Borrower hereby agrees that the amendments and modifications herein
contained shall not impair the liabilities, duties and obligations of the Borrower or any
Guarantor under the Credit Agreement and the other Loan Documents or the Liens securing the
payment and performance thereof.

First Amendment to Amended and Restated Credit Agreement - Page 6

 

 

     4.2 Parties in Interest. All of the terms and provisions of this Amendment shall bind and
inure to the benefit of the parties hereto and their respective successors and assigns.

     4.3 Legal Expenses. The Borrower hereby agrees to pay all reasonable fees and expenses of
special counsel to the Administrative Agent incurred by the Administrative Agent in connection with
the preparation, negotiation and execution of this Amendment and all related documents.

     4.4 Counterparts. This Amendment may be executed in one or more counterparts and by different
parties hereto in separate counterparts each of which when so executed and delivered shall be
deemed an original, but all such counterparts together shall constitute but one and the same
instrument; signature pages may be detached from multiple separate counterparts and attached to a
single counterpart so that all signature pages are physically attached to the same document.
However, this Amendment shall bind no party until the Borrower, the Lenders (or at least the
required percentage thereof), and the Administrative Agent have executed a counterpart. Delivery of
photocopies of the signature pages to this Amendment by facsimile or electronic mail shall be
effective as delivery of manually executed counterparts of this Amendment.

     4.5 Complete Agreement. THIS AMENDMENT, THE CREDIT AGREEMENT, AND THE OTHER LOAN DOCUMENTS
REPRESENT THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF
PRIOR, CONTEMPORANEOUS OR ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS
BETWEEN THE PARTIES.

     4.6 Headings. The headings, captions and arrangements used in this Amendment are, unless
specified otherwise, for convenience only and shall not be deemed to limit, amplify or modify the
terms of this Amendment, nor affect the meaning thereof.

     4.7 Governing Law. This Amendment shall be governed by, and construed in accordance with, the
law of the state of Texas.

[Remainder of Page Intentionally Blank. Signature Pages Follow.]

First Amendment to Amended and Restated Credit Agreement - Page 7

 

 

     IN WITNESS WHEREOF, the parties have caused this First Amendment to Amended and Restated
Credit Agreement to be duly executed as of the date first above written.

	 	 	 	 	 
	 	BORROWER:

CONCHO RESOURCES INC.,

a Delaware corporation 

 	 
	 	By:  	/s/ Darin G. Holderness
 	 
	 	Name: Darin G. Holderness 	 
	 	Title: Vice President and Chief Financial Officer 	 
	 

First Amendment to Amended and Restated Credit Agreement

Signature Page

 

 

	 	 	 	 	 
	 	JPMORGAN CHASE BANK, N.A.,

as Administrative Agent 

 	 
	 	By:  	/s/ Kimberly Coil
 	 
	 	 	Kimberly Coil 	 
	 	 	Senior Vice President 	 
	 
	 	JPMORGAN CHASE BANK, N.A.,

as a Lender, L/C Issuer and Swing Line Lender

 	 
	 	By:  	/s/ Kimberly Coil
 	 
	 	 	Kimberly Coil  	 
	 	 	Senior Vice President 	 
	 

First Amendment to Amended and Restated Credit Agreement

Signature Page

 

 

	 	 	 	 	 
	 	BANK OF AMERICA, N.A.,

as Syndication Agent and a Lender

 	 
	 	By:  	/s/ Jeffrey H. Rathkamp
 	 
	 	Name:  Jeffrey H. Rathkamp 	 
	 	Title: Managing Director 	 
	 

First Amendment to Amended and Restated Credit Agreement

Signature Page

 

 

	 	 	 	 	 	 	 
	 	 	BNP PARIBAS,
	 	 	as a Co-Documentation Agent and a Lender
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Richard Hawthorne
 

	 	 
	 

	 	Name:
	 	RICHARD HAWTHORNE	 	 
	 

	 	Title:
	 	DIRECTOR	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Courtney Kubesch
 

	 	 
	 

	 	Name:
	 	COURTNEY KUBESCH	 	 
	 

	 	Title:
	 	VICE PRESIDENT	 	 

First Amendment to Amended and Restated Credit Agreement

Signature Page

 

 

	 	 	 	 	 	 	 
	 	 	CALYON NEW YORK BRANCH,
	 	 	as a Co-Documentation Agent and a Lender
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Tom Byargeon
 

	 	 
	 

	 	Name:
	 	Tom Byargeon	 	 
	 

	 	Title:
	 	Managing Director	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Sharada Manne
 

	 	 
	 

	 	Name:
	 	Sharada Manne	 	 
	 

	 	Title:
	 	Director	 	 

First Amendment to Amended and Restated Credit Agreement

Signature Page

 

 

	 	 	 	 	 	 	 
	 	 	ING CAPITAL LLC,
	 	 	as a Co-Documentation Agent and a Lender
	 	 	 	 	 	 	 
	 
	 	By:
	 	/s/ Charles E. Hall
 

	 	 
	 
	 	Name:
	 	Charles E. Hall	 	 
	 
	 	Title:
	 	Managing Director	 	 

First Amendment to Amended and Restated Credit Agreement

Signature Page

 

 

	 	 	 	 	 	 	 
	 	 	BANK OF SCOTLAND,
	 	 	as a Lender
	 
	 	 	 	 	 	 
	 

	 	By:
	 	 
 

	 	 
	 

	 	Name:	 	 	 	 
	 

	 	Title:	 	 	 	 

First Amendment to Amended and Restated Credit Agreement

Signature Page

 

 

	 	 	 	 	 	 	 
	 	 	BANK OF TEXAS N.A.,
	 	 	as a Lender
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ J. Michael Delbridge
 

	 	 
	 

	 	Name:
	 	J. Michael Delbridge	 	 
	 

	 	Title:
	 	Senior Vice President	 	 

First Amendment to Amended and Restated Credit Agreement

Signature Page

 

 

	 	 	 	 	 	 	 
	 	 	CITIBANK, N.A. (formerly Citibank Texas, N.A.),
	 	 	as a Lender
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Gary T. Brednich
 

	 	 
	 

	 	Name:
	 	Gary T. Brednich	 	 
	 

	 	Title:
	 	Vice President	 	 

First Amendment to Amended and Restated Credit Agreement

Signature Page

 

 

	 	 	 	 	 	 	 
	 	 	FORTIS CAPITAL CORP.,
	 	 	as a Lender
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Michele Jones
 

	 	 
	 

	 	Name:
	 	Michele Jones	 	 
	 

	 	Title:
	 	Director	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Ilene Fowler
 

	 	 
	 

	 	Name:
	 	Ilene Fowler	 	 
	 

	 	Title:
	 	Director	 	 

First Amendment to Amended and Restated Credit Agreement

Signature Page

 

 

	 	 	 	 	 	 	 
	 	 	THE FROST NATIONAL BANK,
	 	 	as a Lender
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Alex Zemkoski
 

	 	 
	 

	 	Name:
	 	Alex Zemkoski	 	 
	 

	 	Title:
	 	Vice President	 	 

First Amendment to Amended and Restated Credit Agreement

Signature Page

 

 

	 	 	 	 	 	 	 
	 	 	NATIXIS (formerly Natexis Banques Populaires),
	 	 	as a Lender
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Donovan C. Broussard
 

	 	 
	 

	 	Name:
	 	Donovan C. Broussard	 	 
	 

	 	Title:
	 	Managing Director	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Liana Tchernysheva
 

	 	 
	 

	 	Name:
	 	Liana Tchernysheva	 	 
	 

	 	Title:
	 	Director	 	 

First Amendment to Amended and Restated Credit Agreement

Signature Page

 

 

	 	 	 	 	 	 	 
	 	 	SCOTIABANC INC.,
	 	 	as a Lender
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ J. F. Todd
 

	 	 
	 

	 	Name:
	 	J. F. Todd	 	 
	 

	 	Title:
	 	Managing Director	 	 

First Amendment to Amended and Restated Credit Agreement

Signature Page

 

 

	 	 	 	 	 	 	 
	 	 	STERLING BANK,	 	 
	 	 	as a Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:

Name:
	 	/s/ Melissa Bauman
 

Melissa Bauman
	 	 
	 

	 	Title:
	 	Senior Vice President	 	 

First Amendment to Amended and Restated Credit Agreement

Signature Page

 

 

	 	 	 	 	 	 	 
	 	 	U.S. BANK NATIONAL ASSOCIATION,	 	 
	 	 	as a Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:

Name:
	 	/s/ Bruce E. Hernandez
 

Bruce E. Hernandez
	 	 
	 

	 	Title:
	 	Vice President	 	 

First Amendment to Amended and Restated Credit Agreement

Signature Page

 

 

	 	 	 	 	 	 	 
	 	 	WACHOVIA BANK, NATIONAL ASSOCIATION,	 	 
	 	 	as a Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:

Name:
	 	/s/ Hank Biedrzycki
 

Hank Biedrzycki
	 	 
	 

	 	Title:
	 	Director	 	 

First Amendment to Amended and Restated Credit Agreement

Signature Page

 

 

	 	 	 	 	 	 	 
	 	 	UNION BANK OF CALIFORNIA, N.A.,	 	 
	 	 	as a Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:

Name:
	 	/s/ Timothy Brendel
 

Timothy Brendel
	 	 
	 

	 	Title:
	 	Vice President	 	 
	 
	 	 	 	 	 	 
	 

	 	By:

Name:
	 	/s/ Sean Murphy
 

Sean Murphy
	 	 
	 

	 	Title:
	 	Senior Vice President	 	 

First Amendment to Amended and Restated Credit Agreement

Signature Page

 

 

	 	 	 	 	 	 	 
	 	 	COMPASS BANK,	 	 
	 	 	as a Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:

Name:
	 	/s/ Dorothy Marchand
 

DOROTHY MARCHAND
	 	 
	 

	 	Title:
	 	SENIOR VICE PRESIDENT	 	 

First Amendment to Amended and Restated Credit Agreement

Signature Page

 

 

	 	 	 	 	 	 	 
	 	 	KEYBANK NATIONAL ASSOCIATION,	 	 
	 	 	as a Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:

Name:
	 	/s/ Todd Coker
 

Todd Coker
	 	 
	 

	 	Title:
	 	AVP	 	 

First Amendment to Amended and Restated Credit Agreement

Signature Page

 

 

	 	 	 	 	 	 	 
	 	 	SUMITOMO MITSUI BANKING CORPORATION,	 	 
	 	 	as a Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ William M. Ginn
 

	 	 
	 

	 	Name:
	 	 William M. Ginn	 	 
	 

	 	Title:
	 	General Manager	 	 

First Amendment to Amended and Restated Credit Agreement

Signature Page

 

 

	 	 	 	 	 	 	 
	 	 	WELLS FARGO BANK, N.A.,	 	 
	 	 	as a Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Tom K. Martin
 

	 	 
	 

	 	Name:
	 	Tom K. Martin	 	 
	 

	 	Title:
	 	Vice President	 	 

First Amendment to Amended and Restated Credit Agreement

Signature Page

 

 

	 	 	 	 	 	 	 
	 	 	SUNTRUST BANK,	 	 
	 	 	as a Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Yann Pirio
 

	 	 
	 

	 	Name:
	 	Yann Pirio	 	 
	 

	 	Title:
	 	Director	 	 

First Amendment to Amended and Restated Credit Agreement

Signature Page

 

 

	 	 	 	 	 	 	 
	 	 	DEUTSCHE BANK TRUST COMPANY AMERICAS,	 	 
	 	 	as a Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Evelyn Thierry
 

	 	 
	 

	 	Name:
	 	Evelyn Thierry	 	 
	 

	 	Title:
	 	Vice President	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Omayra Laucella
 

	 	 
	 

	 	Name:
	 	Omayra Laucella	 	 
	 

	 	Title:
	 	Vice President	 	 

First Amendment to Amended and Restated Credit Agreement

Signature Pageexv10w1

Exhibit 10.1

Amendment to Employment Agreement

     This Amendment to Employment Agreement is effective as of March 1, 2009 and amends the
Employment Agreement currently in effect by and between The Greenbrier Companies, Inc.
(“Greenbrier”) and the undersigned employee of Greenbrier.

     Notwithstanding any other provision of my Employment Agreement with Greenbrier to the
contrary, I hereby agree that the rate of my annual base compensation will be temporarily reduced
from its current level in accordance with the schedule below. Such reduction will be effective as
of March 1, 2009, and continue until such time as the Compensation Committee of the Board of
Directors shall determine that current salaries for executive officers shall be reinstated, in
whole or in part, with such reinstatement to be made in a comparable manner for all executive
officers.

	 	 	 	 	 
	Annual Base Compensation Range (U.S. $)	 	Percentage Reduction
	William A. Furman’s base compensation
	 	 	50.0	%
	Over $250,000
	 	 	12.5	%
	$200,000 — $249,999
	 	 	10.0	%
	$125,000 — $199,999
	 	 	7.5	%
	$75,000 — $124,999
	 	 	5.0	%
	Under $75,000
	 	 	0.0	%

     Nothing in this Amendment shall change the amounts to be paid to me, if applicable, as
severance benefits, upon a Change in Control or otherwise; such amounts to be determined as if my
annual base compensation were unchanged by this Amendment.

	 	 	 	 	 	 	 	 	 
	The Greenbrier Companies, Inc.:	 	 	 	Employee:	 	 
	 
	 	 	 	 	 	 	 	 
	By:

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