Document:

Exhibit 10.1 Omnibus Amendment No.1

Exhibit 10.1

EXECUTION COPY

OMNIBUS AMENDMENT NO. 1
TO

FIFTH AMENDED AND RESTATED CREDIT AGREEMENT

AND

AMENDED AND RESTATED SECURITY AGREEMENT

This OMNIBUS AMENDMENT NO. 1 to FIFTH AMENDED AND RESTATED CREDIT AGREEMENT and AMENDED AND RESTATED SECURITY AGREEMENT (the “Amendment”), dated as of June 6, 2012, is entered into by and among Tesoro Corporation (the “Borrower”), the Subsidiaries of the Borrower party hereto (the “Subsidiary Guarantors”), the financial institutions listed on the signature pages hereof (the “Lenders”), and JPMorgan Chase Bank, National Association, as Administrative Agent (the “Agent”) under the below-defined Credit Agreement .  Each capitalized term used herein and not otherwise defined herein shall have the meaning given to it in the below-defined Credit Agreement.
WITNESSETH
WHEREAS, the Borrower, the Lenders, and the Agent are parties to a Fifth Amended and Restated Credit Agreement dated as of March 16, 2011 (as the same may be amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”); 
WHEREAS, the Borrower, the Subsidiary Guarantors and the Agent are parties to an Amended and Restated Security Agreement dated as of March 16, 2011 (as the same may be amended, restated, supplemented or otherwise modified from time to time, the “Security Agreement”); 
WHEREAS, the Borrower wishes to amend the Credit Agreement in certain respects and the Lenders party hereto and the Agent are willing to amend the Credit Agreement on the terms and conditions set forth herein; and
WHEREAS, the Borrower and the Grantors wish to amend the Security Agreement in certain respects and the Lenders party hereto and the Agent are willing to amend the Security Agreement on the terms and conditions set forth herein; 
NOW, THEREFORE, in consideration of the premises set forth above, the terms and conditions contained herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Borrower, the Subsidiary Guarantors, the Agent and the Lenders party hereto hereby agree as follows:
1.    Amendments to Credit Agreement.  Effective as of the date first above written, and subject to the satisfaction of the conditions to effectiveness set forth in Section 3 below,  the Credit Agreement is hereby amended as follows:
(a)    Section 1.1 of the Credit Agreement is hereby amended to add the following definitions in their appropriate alphabetical order therein:

CH1 6709190v.3

“ “Permitted Credit Enhancement Transaction” means a silent payment undertaking, undisclosed payment guarantee,  put arrangement or similar arrangement, contract or agreement relating to one or more Receivables entered into between the Borrower or any Subsidiary and a financial institution, pursuant to which (a) such financial institution undertakes to promptly pay to the Borrower or such Subsidiary, following notice by the Borrower or such Subsidiary and the delivery of related documentation, the amount of payments owed by an Account Debtor under the applicable Receivables to the Borrower or such Subsidiary if such Account Debtor fails to pay the amount due thereunder in full and (b) immediately upon or following such payment by the financial institution, all of the Borrower's or such Subsidiary's right, title and interest in such Receivable(s) and the underlying contract(s), agreements(s), purchase order(s) or other documentation (the “Receivables Documentation”) giving rise to or evidencing such Receivables will be assigned to such financial institution; provided, that the aggregate outstanding face amount of all Receivables subject to Permitted Credit Enhancement Transactions which were Eligible Receivables immediately prior to the entry into such Permitted Credit Enhancement Transactions, shall not exceed $300,000,000 at any time.”
“ “Permitted Credit Enhancement Transaction Reserve” means, with respect to any Receivable for which (x) the Company has provided notice pursuant to Section 6.1.16 that such Receivable is subject to a Permitted Credit Enhancement Transaction, but (y) the most recently received Interim Collateral Report or Monthly Collateral Report does not exclude such Receivable from Eligible Receivables, such amount as the Agent in its reasonable credit judgment shall establish after consultation with the Borrower.” 
“ “Receivables Documentation” is defined in the definition of Permitted Credit Enhancement Transaction.” 
(b)    The definition of “Borrowing Base” contained in Section 1.1 of the Credit Agreement is hereby amended to amend and restate clause (vi) thereof in its entirety as follows:
“(vi) such reserves as the Agent may from time to time reasonably deem appropriate (including any Permitted Credit Enhancement Transaction Reserves)”.
(c)    The definition of “Eligible Receivable” contained in Section 1.1 of the Credit Agreement is hereby amended by (i) deleting the word “and” at the end of clause (u), (ii) replacing the period at the end of clause (v) with “; and” and (iii) adding a new clause (w) as follows:
“(w)    any Receivable subject to a Permitted Credit Enhancement Transaction.”
(d)    Section 6.1 of the Credit Agreement is hereby amended to add the following clause 6.1.16 immediately following clause 6.1.15 thereof:
“6.1.16 Within two (2) Business Days after the Company or any Subsidiary enters into a Permitted Credit Enhancement Transaction, copies of the agreements, contracts, confirmations or other documentation evidencing such Permitted Credit Enhancement Transaction.
(e)    Section 6.12 of the Credit Agreement is hereby amended to add the following clause 6.12.9 thereto immediately following clause 6.12.8 thereof:
“6.12.9 Sales or assignments of Receivables and related Receivables Documentation pursuant to any Permitted Credit Enhancement Transaction.”

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(f)    Section 6.14 of the Credit Agreement is hereby amended to add the following clause 6.14.13 thereto immediately following clause 6.14.12 thereof:
“6.14.13. Indebtedness under Permitted Credit Enhancement Transactions to the extent such Indebtedness results from the assignment of Receivables and related Receivables Documentation, and to the extent such Indebtedness arises solely under clause (iii) of the definition thereof; provided, however, that the aggregate amount of such Indebtedness shall not exceed at any time the aggregate outstanding face amount of all Receivables subject to such Permitted Credit Enhancement Transactions.”
(g)    Section 6.15 of the Credit Agreement is hereby amended to add the following clause 6.15.26 thereto immediately following clause 6.15.25 thereof:
“6.15.26. Liens on Receivables or the related Receivables Documentation arising under any Permitted Credit Enhancement Transaction.”
2.     Amendment to Security Agreement.  Effective as of the date first above written, and subject to the satisfaction of the conditions to effectiveness set forth in Section 3 below,  the Security Agreement is hereby amended to add the following sentence to the end of the definition of “Collateral” set forth in Section 1.3 thereof: 
“Notwithstanding the foregoing, the Collateral shall not include any Receivables and any related Receivables Documentation subject to any Permitted Credit Enhancement Transaction.”
3.    Conditions of Effectiveness.  This Amendment shall become effective and be deemed effective as of the date hereof, if, and only if:
(a) the Agent shall have received executed copies of this Amendment from the Borrower, the Subsidiary Guarantors and the Required Lenders;
(b) the Agent shall have received a written reaffirmation of the Borrower's and the Subsidiary Guarantors' respective obligations under the Guaranty and the Collateral Documents in form and substance substantially similar to Exhibit A hereto; and
(c) the Borrower shall have paid all fees and expenses of the Agent (including, to the extent invoiced, attorneys' fees and expenses) in connection with this Amendment.
4.    Representations and Warranties of the Borrower and the Subsidiary Guarantors. Each of the Borrower and the Subsidiary Guarantors hereby represents and warrants as follows:
(a)    The Credit Agreement and Security Agreement as previously executed and amended and as amended hereby constitute the legal, valid and binding obligation of the Borrower or such Subsidiary Guarantor, as applicable, and is enforceable against the Borrower or such Subsidiary Guarantor, as applicable, in accordance with its terms, except as enforceability may be limited by (i) bankruptcy, insolvency, fraudulent conveyances, reorganization or similar laws relating to or affecting the enforcement of creditors' rights generally; (ii) general equitable principles (whether considered in a proceeding in equity or at law); and (iii) requirements of reasonableness, good faith and fair dealing.
(b)    (i) The representations and warranties contained in Article V of the Credit Agreement and Article III of the Security Agreement are true and correct as of the date hereof except (x) with respect to Sections 5.5 and 5.7 of the Credit Agreement, the representations and warranties set forth 

3

in such Sections shall have been true and correct on and as of the date of the most recent Form 10-K or Form 10-Q filing, as applicable, made by the Borrower with the U.S. Securities and Exchange Commission, and (y) with respect to any other representation and warranty set forth in Article V of the Credit Agreement or Article III of the Security Agreement, to the extent such representation or warranty is stated to relate solely to an earlier date, such representation or warranty shall have been true and correct on and as of such earlier date and (ii) no event shall have occurred and then be continuing which constitutes a Default or an Unmatured Default.
 (c)    The modifications contemplated by this Amendment are permitted under the terms of indentures and other agreements referenced in Section 9.17 of the Credit Agreement that remain in effect as of the date hereof.
5.    Effect on the Credit Agreement and the Security Agreement.
(a)    Upon the effectiveness of this Amendment, on and after the date hereof, each reference in the Credit Agreement or the Security Agreement to “this Agreement,” “hereunder,” “hereof,” “herein” or words of like import shall mean and be a reference to the Credit Agreement or the Security Agreement, as applicable, as amended and modified hereby.
(b)    Except as specifically amended and modified above, the Credit Agreement, the Security Agreement and all other documents, instruments and agreements executed and/or delivered in connection therewith shall remain in full force and effect, and are hereby ratified and confirmed.
(c)    The execution, delivery and effectiveness of this Amendment shall neither, except as expressly provided herein, operate as a waiver of any right, power or remedy of the Lenders or the Agent, nor constitute a waiver of any provision of the Credit Agreement, the Security Agreement or any other documents, instruments and agreements executed and/or delivered in connection therewith.
6.    Costs and Expenses.  The Borrower agrees to pay all reasonable costs, fees and out-of-pocket expenses (including attorneys' fees and expenses charged to the Agent) incurred by the Agent and the Lenders in connection with the preparation, arrangement, execution and enforcement of this Amendment.
7.    Governing Law.  THIS AMENDMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS (INCLUDING SECTION 5-1401 OF THE GENERAL OBLIGATION LAW BUT OTHERWISE WITHOUT REGARD TO CONFLICT OF LAW PROVISIONS) OF THE STATE OF NEW YORK, BUT GIVING EFFECT TO FEDERAL LAWS APPLICABLE TO NATIONAL BANKS.  IF ANY COURT, TRIBUNAL OR OTHER ENTITY WITH JURISDICTION OVER THIS AMENDMENT AND THE TRANSACTIONS EVIDENCED HEREBY REJECTS THE FOREGOING CHOICE OF NEW YORK LAW, THEN THIS AMENDMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS (INCLUDING 735 ILCS SECTION 105/5-1 ET SEQ. BUT OTHERWISE WITHOUT REGARD TO CONFLICT OF LAW PROVISIONS) OF THE STATE OF ILLINOIS, BUT GIVING EFFECT TO FEDERAL LAWS APPLICABLE TO NATIONAL BANKS.
8.    Headings.  Section headings in this Amendment are included herein for convenience of reference only and shall not constitute a part of this Amendment for any other purpose.
9.    Counterparts.  This Amendment may be executed by one or more of the parties to the Amendment on any number of separate counterparts and all of said counterparts taken together shall be 

4

deemed to constitute one and the same instrument.  Delivery of an executed counterpart of a signature page of this Amendment by facsimile shall be effective as delivery of a manually executed counterpart of this Amendment.
10.    No Strict Construction. The parties hereto have participated jointly in the negotiation and drafting of this Amendment.  In the event an ambiguity or question of intent or interpretation arises, this Amendment shall be construed as if drafted jointly by the parties hereto and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any provisions of this Amendment.
The remainder of this page is intentionally blank.

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IN WITNESS WHEREOF, this Amendment has been duly executed as of the day and year first above written.

	
		
	 
	TESORO CORPORATION,

	 
	as the Borrower

	
				
	 
	By:  
	/s/ G. SCOTT SPENDLOVE

	 
	Name:
	G. Scott Spendlove 

	 
	Title:
	Senior Vice President & Chief Financial Officer

	
		
	 
	TESORO WASATCH, LLC

	 
	TESORO COMPANIES, INC.

	 
	TESORO ALASKA COMPANY

	 
	TESORO REFINING AND MARKETING COMPANY

	 
	TESORO HAWAII CORPORATION

	 
	TESORO WEST COAST COMPANY, LLC

	 
	TESORO SIERRA PROPERTIES, LLC

	 
	TESORO NORTHSTORE COMPANY

	 
	TESORO SOUTH COAST COMPANY, LLC

	 
	TESORO TRADING COMPANY

	 
	TESORO ENVIRONMENTAL RESOURCES COMPANY

	 
	TESORO AVIATION COMPANY

	 
	TESORO MARITIME COMPANY

	 
	TESORO FAR EAST MARITIME COMPANY

	 
	GOLD STAR MARITIME COMPANY,

	 
	as Subsidiary Guarantors

	
				
	 
	By:  
	/s/ G. SCOTT SPENDLOVE

	 
	Name:
	G. Scott Spendlove 

	 
	Title:
	Senior Vice President & Chief Financial Officer

	
		
	 
	SMILEY'S SUPER SERVICE, INC.,

	 
	as a Subsidiary Guarantor

	
				
	 
	By:  
	/s/ JOHN R. RAMSEY

	 
	Name:
	John R. Ramsey

	 
	Title:
	President

SIGNATURE PAGE TO OMNIBUS AMENDMENT NO. 1
TO FIFTH AMENDED AND RESTATED CREDIT AGREEMENT AND 
AMENDED AND RESTATED SECURITY AGREEMENT

	
		
	 
	JPMORGAN CHASE BANK, NATIONAL

	 
	ASSOCIATION, as a Lender and as Administrative

	 
	Agent

	
				
	 
	By:  
	/s/ J. DEVIN MOCK

	 
	Name:
	J. Devin Mock

	 
	Title:
	Authorized Officer

SIGNATURE PAGE TO OMNIBUS AMENDMENT NO. 1
TO FIFTH AMENDED AND RESTATED CREDIT AGREEMENT AND 
AMENDED AND RESTATED SECURITY AGREEMENT

	
		
	 
	THE ROYAL BANK OF SCOTLAND PLC,

	 
	as a Lender

	
				
	 
	By:  
	/s/ TODD VAUBEL

	 
	 
	Todd Vaubel

	 
	 
	Authorised Signatory

SIGNATURE PAGE TO OMNIBUS AMENDMENT NO. 1
TO FIFTH AMENDED AND RESTATED CREDIT AGREEMENT AND 
AMENDED AND RESTATED SECURITY AGREEMENT

	
		
	 
	BANK OF AMERICA, N.A.,

	 
	as a Lender

	
				
	 
	By:  
	/s/ JAMES B. ALLIN

	 
	Name:
	James B. Allin

	 
	Title:
	Senior Vice President

SIGNATURE PAGE TO OMNIBUS AMENDMENT NO. 1
TO FIFTH AMENDED AND RESTATED CREDIT AGREEMENT AND 
AMENDED AND RESTATED SECURITY AGREEMENT

	
		
	 
	WELLS FARGO BANK, NA,

	 
	as a Lender

	
				
	 
	By:  
	/s/ PETER AZIZ

	 
	Name:
	Peter Aziz

	 
	Title:
	Vice President

SIGNATURE PAGE TO OMNIBUS AMENDMENT NO. 1
TO FIFTH AMENDED AND RESTATED CREDIT AGREEMENT AND 
AMENDED AND RESTATED SECURITY AGREEMENT

	
		
	 
	CITIBANK, N.A.,

	 
	as a Lender

	
				
	 
	By:  
	/s/ BRENDAN MACKAY

	 
	Name:
	Brendan Mackay

	 
	Title:
	Director and Vice President

SIGNATURE PAGE TO OMNIBUS AMENDMENT NO. 1
TO FIFTH AMENDED AND RESTATED CREDIT AGREEMENT AND 
AMENDED AND RESTATED SECURITY AGREEMENT

	
		
	 
	NATIXIS,

	 
	as a Lender

	
				
	 
	By:  
	/s/ DANIEL PAYER

	 
	 
	Daniel Payer

	 
	 
	Managing Director

	
				
	 
	By:  
	/s/ LOUIS P. LAVILLE, III

	 
	 
	Louis P. Laville, III

	 
	 
	Managing Director

SIGNATURE PAGE TO OMNIBUS AMENDMENT NO. 1
TO FIFTH AMENDED AND RESTATED CREDIT AGREEMENT AND 
AMENDED AND RESTATED SECURITY AGREEMENT

	
		
	 
	THE BANK OF NOVA SCOTIA,

	 
	as a Lender

	
				
	 
	By:  
	/s/ J. FRAZELL

	 
	Name:
	J. Frazell

	 
	Title:
	Director

SIGNATURE PAGE TO OMNIBUS AMENDMENT NO. 1
TO FIFTH AMENDED AND RESTATED CREDIT AGREEMENT AND 
AMENDED AND RESTATED SECURITY AGREEMENT

	
		
	 
	WELLS FARGO CAPITAL FINANCE, LLC,

	 
	as a Lender

	
				
	 
	By:  
	/s/ PETER AZIZ

	 
	Name:
	Peter Aziz

	 
	Title:
	Vice President

SIGNATURE PAGE TO OMNIBUS AMENDMENT NO. 1
TO FIFTH AMENDED AND RESTATED CREDIT AGREEMENT AND 
AMENDED AND RESTATED SECURITY AGREEMENT

	
		
	 
	MIZUHO CORPORATE BANK, LTD.,

	 
	as a Lender

	
				
	 
	By:  
	/s/ RAYMOND VENTURA

	 
	Name:
	Raymond Ventura

	 
	Title:
	Deputy General Manager

SIGNATURE PAGE TO OMNIBUS AMENDMENT NO. 1
TO FIFTH AMENDED AND RESTATED CREDIT AGREEMENT AND 
AMENDED AND RESTATED SECURITY AGREEMENT

	
		
	 
	BANCO BILBAO VIZCAYA ARGENTARIA S.A.,

	 
	NEW YORK BRANCH, as a Lender

	
				
	 
	By:  
	/s/ ALEJANDRO LUNA

	 
	Name:
	Alejandro Luna

	 
	Title:
	Structured Trade Finance North America

	
				
	 
	 
	/s/ ANNE MAUREEN SARFATI

	 
	 
	Anne Maureen Sarfati

	 
	 
	Vice President-Structured Finance North America

SIGNATURE PAGE TO OMNIBUS AMENDMENT NO. 1
TO FIFTH AMENDED AND RESTATED CREDIT AGREEMENT AND 
AMENDED AND RESTATED SECURITY AGREEMENT

	
		
	 
	CREDIT AGRICOLE CORPORATE & INVESTMENT

	 
	BANK, as a Lender

	
				
	 
	By:  
	/s/ SHARADA MANNE

	 
	Name:
	Sharada Manne

	 
	Title:
	Managing Director

	
				
	 
	By:  
	/s/ DAVID GURGHIGIAN

	 
	Name:
	David Gurghigian

	 
	Title:
	Managing Director

SIGNATURE PAGE TO OMNIBUS AMENDMENT NO. 1
TO FIFTH AMENDED AND RESTATED CREDIT AGREEMENT AND 
AMENDED AND RESTATED SECURITY AGREEMENT

	
		
	 
	LLOYDS TSB BANK PLC,

	 
	as a Lender

	
				
	 
	By:  
	/s/ JULIA R. FRANKLIN

	 
	Name:
	Julia R. Franklin

	 
	Title:
	Vice President (F014)

	
				
	 
	By:  
	/s/ DENNIS MCCLELLAN

	 
	Name:
	Dennis McClellan

	 
	Title:
	Assistant Vice President (M040)

SIGNATURE PAGE TO OMNIBUS AMENDMENT NO. 1
TO FIFTH AMENDED AND RESTATED CREDIT AGREEMENT AND 
AMENDED AND RESTATED SECURITY AGREEMENT

	
		
	 
	UBS LOAN FINANCE LLC,

	 
	as a Lender

	
				
	 
	By:  
	/s/ MARY E. EVANS

	 
	Name:
	Mary E. Evans

	 
	Title:
	Associate Director

	
				
	 
	By:  
	/s/ IRJA R. OTSA

	 
	Name:
	Irja R. Otsa

	 
	Title:
	Associate Director

SIGNATURE PAGE TO OMNIBUS AMENDMENT NO. 1
TO FIFTH AMENDED AND RESTATED CREDIT AGREEMENT AND 
AMENDED AND RESTATED SECURITY AGREEMENT

	
		
	 
	RB INTERNATIONAL FINANCE (USA), LLC,

	 
	as a Lender

	
				
	 
	By:  
	/s/ SHIRLEY RITCH

	 
	Name:
	Shirley Ritch

	 
	Title:
	Vice President

	
				
	 
	By:  
	/s/ PETER ARMIERI

	 
	Name:
	Peter Armieri

	 
	Title:
	Vice President

SIGNATURE PAGE TO OMNIBUS AMENDMENT NO. 1
TO FIFTH AMENDED AND RESTATED CREDIT AGREEMENT AND 
AMENDED AND RESTATED SECURITY AGREEMENT

	
		
	 
	CREDIT SUISSE AG, CAYMAN ISLANDS

	 
	BRANCH, as a Lender

	
				
	 
	By:  
	/s/ KARL STUDER

	 
	Name:
	Karl Studer

	 
	Title:
	Director

	
				
	 
	By:  
	/s/ VIPUL DHADDA

	 
	Name:
	Vipul Dhadda

	 
	Title:
	Associate

SIGNATURE PAGE TO OMNIBUS AMENDMENT NO. 1
TO FIFTH AMENDED AND RESTATED CREDIT AGREEMENT AND 
AMENDED AND RESTATED SECURITY AGREEMENT

	
		
	 
	THE BANK OF TOKYO MITSUBISHI UFJ, LTD.,

	 
	as a Lender

	
				
	 
	By:  
	/s/ MARIA FERRADAS

	 
	Name:
	Maria Ferradas

	 
	Title:
	Vice President

SIGNATURE PAGE TO OMNIBUS AMENDMENT NO. 1
TO FIFTH AMENDED AND RESTATED CREDIT AGREEMENT AND 
AMENDED AND RESTATED SECURITY AGREEMENT

	
		
	 
	DEUTSCHE BANK TRUST COMPANY AMERICAS,

	 
	as a Lender

	
				
	 
	By:  
	/s/ MICHAEL GETZ

	 
	Name:
	Michael Getz

	 
	Title:
	Vice President

	
				
	 
	By:  
	/s/ MARCUS M. TARKINGTON

	 
	Name:
	Marcus M. Tarkington

	 
	Title:
	Director

SIGNATURE PAGE TO OMNIBUS AMENDMENT NO. 1
TO FIFTH AMENDED AND RESTATED CREDIT AGREEMENT AND 
AMENDED AND RESTATED SECURITY AGREEMENT

	
		
	 
	SOCIETE GENERALE,

	 
	as a Lender

	
				
	 
	By:  
	/s/ CHAD CLARK

	 
	Name:
	Chad Clark

	 
	Title:
	Managing Director

SIGNATURE PAGE TO OMNIBUS AMENDMENT NO. 1
TO FIFTH AMENDED AND RESTATED CREDIT AGREEMENT AND 
AMENDED AND RESTATED SECURITY AGREEMENT

	
		
	 
	SUMITOMO MITSUI BANKING CORPORATION,

	 
	as a Lender

	
				
	 
	By:  
	/s/ SHUJI YABE

	 
	Name:
	Shuji Yabe

	 
	Title:
	Managing Director

SIGNATURE PAGE TO OMNIBUS AMENDMENT NO. 1
TO FIFTH AMENDED AND RESTATED CREDIT AGREEMENT AND 
AMENDED AND RESTATED SECURITY AGREEMENT

	
		
	 
	SUNTRUST BANK,

	 
	as a Lender

	
				
	 
	By:  
	/s/ LYNN TRAPANESE

	 
	Name:
	Lynn Trapanese

	 
	Title:
	SVP

SIGNATURE PAGE TO OMNIBUS AMENDMENT NO. 1
TO FIFTH AMENDED AND RESTATED CREDIT AGREEMENT AND 
AMENDED AND RESTATED SECURITY AGREEMENT

	
		
	 
	BARCLAYS BANK PLC,

	 
	as a Lender

	
				
	 
	By:  
	/s/ MICHAEL J. MOZER

	 
	Name:
	Michael J. Mozer

	 
	Title:
	Vice President

SIGNATURE PAGE TO OMNIBUS AMENDMENT NO. 1
TO FIFTH AMENDED AND RESTATED CREDIT AGREEMENT AND 
AMENDED AND RESTATED SECURITY AGREEMENT

	
		
	 
	CIBC INC.,

	 
	as a Lender

	
				
	 
	By:  
	/s/ TRUDY NELSON

	 
	Name:
	Trudy Nelson

	 
	Title:
	Authorized Signatory

	
				
	 
	By:  
	/s/ RICHARD ANTL

	 
	Name:
	Richard Antl

	 
	Title:
	Authorized Signatory

SIGNATURE PAGE TO OMNIBUS AMENDMENT NO. 1
TO FIFTH AMENDED AND RESTATED CREDIT AGREEMENT AND 
AMENDED AND RESTATED SECURITY AGREEMENT

	
		
	 
	COMERICA BANK,

	 
	as a Lender

	
				
	 
	By:  
	/s/ JOEY POWELL

	 
	Name:
	Joey Powell

	 
	Title:
	Vice President

SIGNATURE PAGE TO OMNIBUS AMENDMENT NO. 1
TO FIFTH AMENDED AND RESTATED CREDIT AGREEMENT AND 
AMENDED AND RESTATED SECURITY AGREEMENT

	
		
	 
	CAPITAL ONE, N.A.,

	 
	as a Lender

	
				
	 
	By:  
	/s/ NANCY M. MAK

	 
	Name:
	Nancy M. Mak

	 
	Title:
	Vice President

SIGNATURE PAGE TO OMNIBUS AMENDMENT NO. 1
TO FIFTH AMENDED AND RESTATED CREDIT AGREEMENT AND 
AMENDED AND RESTATED SECURITY AGREEMENT

	
		
	 
	SIEMENS FINANCIAL SERVICES, INC.,

	 
	as a Lender

	
				
	 
	By:  
	/s/ JEFFREY B. IERVESE

	 
	Name:
	Jeffrey B. Iervese

	 
	Title:
	Vice President

	
				
	 
	By:  
	/s/ PAUL RAMSEUR

	 
	Name:
	Paul Ramseur

	 
	Title:
	Chief Risk Officer

SIGNATURE PAGE TO OMNIBUS AMENDMENT NO. 1
TO FIFTH AMENDED AND RESTATED CREDIT AGREEMENT AND 
AMENDED AND RESTATED SECURITY AGREEMENT

	
		
	 
	THE FROST NATIONAL BANK,

	 
	as a Lender

	
				
	 
	By:  
	/s/ SARAH CERNOSEK

	 
	Name:
	Sarah Cernosek

	 
	Title:
	Vice President

SIGNATURE PAGE TO OMNIBUS AMENDMENT NO. 1
TO FIFTH AMENDED AND RESTATED CREDIT AGREEMENT AND 
AMENDED AND RESTATED SECURITY AGREEMENT

	
		
	 
	AMEGY BANK NATIONAL ASSOCIATION,

	 
	as a Lender

	
				
	 
	By:  
	/s/ MARK A. SERICE

	 
	Name:
	Mark A. Serice

	 
	Title:
	Senior Vice President

SIGNATURE PAGE TO OMNIBUS AMENDMENT NO. 1
TO FIFTH AMENDED AND RESTATED CREDIT AGREEMENT AND 
AMENDED AND RESTATED SECURITY AGREEMENT

EXHIBIT A
TO
AMENDMENT NO. 1

FORM OF REAFFIRMATION

Attached

AFFIRMATION OF LOAN DOCUMENTS
Reference is hereby made to (i) the Fifth Amended and Restated Credit Agreement, dated as of March 16, 2011 (as the same may be amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), by and among Tesoro Corporation (the “Borrower”), the financial institutions from time to time party thereto as Lenders (the “Lenders”) and JPMorgan Chase Bank, National Association, as Administrative Agent (the “Agent”) and (ii) the Amended and Restated Security Agreement, dated as of March 16, 2011 (as the same may be amended, restated supplemented or otherwise modified from time to time, the “Security Agreement”), by and among the Borrower, the Subsidiaries of the Borrower party thereto as Grantors, and the Agent.  Capitalized terms used in this Affirmation of Loan Documents and not defined herein shall have the meanings given to them in the Credit Agreement.
Each of the undersigned hereby acknowledges receipt of a copy of Omnibus Amendment No. 1 to Fifth Amended and Restated Credit Agreement and Amended and Restated Security Agreement, which amends the Credit Agreement and the Security Agreement, and affirms the terms and conditions of each Loan Document executed by it, including, without limitation, the Security Agreement and the Guaranty, and acknowledges and agrees that each such Loan Document executed by it in connection with the Credit Agreement remains in full force and effect and is hereby reaffirmed, ratified and confirmed.  
Each reference to the “Credit Agreement” or “Security Agreement” contained in the above-referenced documents shall be a reference to the Credit Agreement or Security Agreement as the same may from time to time hereafter be amended, modified, supplemented or restated.

Dated:  June 6, 2012

*******

	
	
	TESORO WASATCH, LLC

	TESORO COMPANIES, INC.

	TESORO ALASKA COMPANY

	TESORO REFINING AND MARKETING COMPANY

	TESORO HAWAII CORPORATION

	TESORO WEST COAST COMPANY, LLC

	TESORO SIERRA PROPERTIES, LLC

	TESORO NORTHSTORE COMPANY

	TESORO SOUTH COAST COMPANY, LLC

	TESORO TRADING COMPANY

	TESORO ENVIRONMENTAL RESOURCES COMPANY

	TESORO AVIATION COMPANY

	TESORO MARITIME COMPANY

	TESORO FAR EAST MARITIME COMPANY

	GOLD STAR MARITIME COMPANY,

	
			
	By:  
	/s/ G. SCOTT SPENDLOVE

	Name:
	G. Scott Spendlove 

	Title:
	Senior Vice President & Chief Financial Officer

	
	
	SMILEY'S SUPER SERVICE, INC.

	
			
	By:  
	/s/ JOHN R. RAMSEY

	Name:
	John R. Ramsey

	Title:
	President

SIGNATURE PAGE TO AFFIRMATION OF LOAN DOCUMENTShvtex10.htm

EXHIBIT 10.1

 

HAVERTY FURNITURE COMPANIES, INC.

CLASS A SHAREHOLDERS AGREEMENT

THIS CLASS A SHAREHOLDERS AGREEMENT (this “Agreement”) is made as of June 5, 2012 by and among Haverty Furniture Companies, Inc., a Maryland corporation (the ‘Company”) and the holders of Class A Common Stock, par value $1.00 per share (the “Class A Stock”) of the Company set forth on Annex I hereto (collectively, the “Shareholders,” and individually, a “Shareholder”).

BACKGROUND

Each of the Shareholders holds the number of shares of Class A Stock set forth opposite their name Annex I hereto.  The Shareholders desire to enter into this Agreement with the Company to memorialize in writing the historical practices followed by holders of the Class A Stock in connection with disposition of their Class A Stock holdings.  The shares of Class A Stock set forth opposite the names of each Shareholder on Annex I hereto, together with any shares of Class A Stock hereinafter acquired by a Shareholder are collectively referred to herein as the “Shares.”

The parties agree as follows:

1.           Restriction on Transfer.

(a)           Except pursuant to Section 1(b) or Section 1(c) of this Agreement, each Shareholder shall not sell, assign, transfer, pledge, hypothecate, mortgage, encumber or otherwise dispose of, including transfers pursuant to the laws of testate or intestate succession, marital dissolution, legal separation or otherwise by operation of law (collectively, “Transfer”) any of the Shares, without the prior written consent of the Company.

 

(b)           Notwithstanding Section 1(a) of this Agreement, each Shareholder shall be permitted to Transfer Shares to a Permitted Transferee, provided, as a condition to the effectiveness of any such Transfer, the Permitted Transferee executes a counterpart to this Agreement, thereby agreeing to be bound by all of the terms and conditions of this Agreement as a Shareholder hereunder.  For purposes of this Agreement, a “Permitted Transferee” of a Shareholder shall mean:  (1) such Shareholder’s spouse, children, parents or siblings (“Family Members”); (2) such Shareholder’s estate; (3) any trust established solely for the benefit of such Shareholder and/or any of such Shareholder’s Family Member(s); (4) any partnership, corporation, limited liability company or other entity that is wholly owned and controlled by such Shareholder and/or any such Shareholder’s Family Member(s); (5) to the extent a Shareholder is a partnership, limited liability company, corporation, trust or estate as of the date of this Agreement, any existing partner, member, shareholder or beneficiary of such Shareholder as of the date hereof; (6) any charitable foundation or organization; and (7) the Company.

 

(c)           Notwithstanding Section 1(a) of this Agreement, nothing herein shall limit, restrict or otherwise prohibit or call into question:  (1) Any pledge, hypothecation, mortgage or encumbrance placed by or on behalf of any Shareholder on any Shares on or prior to the date hereof (“Pre-existing Arrangements”) or, subject to compliance by such Shareholder with the obligations set forth in Section 2(b) hereof, any subsequent disposition of such Shares by the counter party thereto; (2) Any bona-fide pledge, hypothecation, mortgage or encumbrance by or on behalf of any Shareholder on any Shares on or after the date hereof (“Subsequent Arrangement”), provided such Shareholder enters into documentation reasonably acceptable to the Company with the counter party to such Subsequent Arrangement confirming that such Shares will be converted into Common Stock in accordance with the Company’s Charter prior to disposition of any such collateral by the counterparty to such Subsequent Arrangement to any person other than a Permitted Transferee; or (3) Any transfer of Shares by a Shareholder in connection with a merger, tender offer or business combination involving the Company, provided, such merger, tender offer or business combination has been approved by at least three-quarters (3/4s) of the members of the Board of Directors of the Company.

2.           Agreement to Convert.

(a)           To the extent a Shareholder desires to Transfer any Shares to someone other than a Permitted Transferee, such Shareholders shall first convert such Shares into shares of Common Stock in accordance with the Company’s Charter and shall be free thereafter to Transfer such shares of Common Stock to any such party without restriction or limitation hereunder.

(b)           To the extent a Shareholder has entered into a Pre-Existing Arrangement prior to the date of this Agreement, such Shareholder agrees to exercise reasonable good faith efforts to cause any such Shares subject to such Pre-Existing Arrangement to be converted into Common Stock in accordance with the Company’s Charter prior to disposition of any such collateral by the counter party to such Pre-Existing Arrangement to any person other than a Permitted Transferee.

3.           Common Stock.

(a)           Nothing in this Agreement shall operate to restrict or otherwise limit the sale, assignment, transfer, pledge, hypothecation, mortgage, encumbrance or disposition of any shares of Common Stock owned by a Shareholder.

4.           Stock Certificate Legends.  The certificates evidencing the Shares shall be endorsed with the following legend:

“THE SALE, ASSIGNMENT, TRANSFER, PLEDGE, HYPOTHICATION, MORTGAGE, ENCUMBERANCE OR OTHER DISPOSITION (COLLECTIVELY, A “TRANSFER”) OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE IS SUBJECT TO THE CONDITIONS AND RESTRICTIONS SPECIFIED IN THE CLASS A SHAREHOLDERS AGREEMENT, DATED AS OF JUNE 5, 2012, AMONG THE COMPANY AND CERTAIN SHAREHOLDERS THEREOF, AND THE COMPANY RESERVES THE RIGHT TO REFUSE THE TRANSFER OF SUCH SECURITIES UNTIL SUCH CONDITIONS AND RESTRICTIONS HAVE BEEN FULFILLED OR SATISFIED WITH RESPECT TO SUCH TRANSFER.  A COPY OF THE CONDITIONS OR AGREEMENTS REFERENCED ABOVE MAY BE OBTAINED BY THE HOLDER HEREOF UPON WRITTEN REQUEST TO THE SECRETARY OF THE COMPANY.”

5.           Term/Termination.  This Agreement will terminate on the twentieth (20th) anniversary of the date hereof.

6.           General Provisions.

(a)           Each of the Company and the Shareholders represent and warrant to each other that each has appropriate authority and/or capacity to enter into this Agreement, each has duly executed and delivered this Agreement and that this Agreement constitutes a legal, valid and binding obligation of such party, enforceable in accordance with its terms. This Agreement may be executed 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.

(b)           This Agreement shall be governed by the laws of the State of Maryland.  This Agreement represents the entire agreement between the parties with respect to the subject matter hereof and may only be modified or amended in a writing signed by all parties.

(c)           Any notice, demand or request required or permitted to be given by either the Company or any Shareholder pursuant to the terms of this Agreement must be in writing and shall be deemed given when delivered personally or deposited in the U.S. mail, first class with postage prepaid, and addressed to the parties at the addresses of the parties set forth on Annex I hereto or such other address as a party may request by notifying the other parties in writing.

(d)           A party’s failure to enforce any provision or provisions of this Agreement shall not in any way be construed as a waiver of any such provision or provisions, nor prevent that party thereafter from enforcing each and every other provision of this Agreement.  The rights granted the parties under this Agreement are cumulative and shall not constitute a waiver of a party’s right to assert all other legal remedies available to it under the circumstances including, but not limited to, any and all equitable remedies, including specific performance and injunctive remedies.

(e)           Each of the Shareholders agrees upon reasonable request of the Company to execute any further documents or instruments and/or to take such further action as may be necessary, desirable or appropriate to carry out the purposes or intent of this Agreement.

(f)           Each of the Shareholders has reviewed this Agreement in its entirety, has had an opportunity to obtain the appropriate advice and counsel prior to executing this Agreement and fully understands all provisions of this Agreement.

(g)           As used in this Agreement, the word “including” means “including, without limitation” in each instance.

  

  

  

IN WITNESS WHEREOF, the parties have duly executed this Agreement as of the day and year first set forth above.

COMPANY

 

 

HAVERTY FURNITURE COMPANIES, INC

                      By:   /s/ Dennis L. Fink                                                         

                      Name:  Dennis L. Fink

Title:    EVP and CFO

                      Address:  780 Johnson Ferry Road, Suite 800

                           Atlanta, Georgia 30342

 

SHAREHOLDERS

 

 H5, L.P

                    By:   /s/ Rawson Haverty, Jr.                                                                

Name:    Rawson Haverty, Jr.

Its:      General Partner

VILLA CLARE PARTNERS, L.P.

  By:       /s/ Clarence H. Smith 

Name:  Clarence H. Smith

 Its:        Managing Partner

RIDGE PARTNERS, L.P.

   By:      /s/ Frank S. McGaughey, III 

 Name:  Frank S. McGaughey, III

         Its:       General Partner

 

 

 RAWSON HAVERTY, JR.

         By:  /s/ Rawson Haverty, Jr.                                                                

 Name:  Rawson Haverty, Jr.

CLARENCE H. SMITH

        By:    /s/ Clarence H. Smith 

Name: Clarence H. Smith

FRANK S. MCGAUGHEY, III

       By:   /s/ Frank S. McGaughey, III 

Name: Frank S. McGaughey, III

  

  

  

     ANNEX I

Holders of Class A Stock - Shareholders

Name                                                                                     Shares of Class A Stock

H5, L.P.                                                                                         854,453

Villa Clare Partners, L.P.                                                             603,497

Ridge Partners L.P.                                                                     108,510

Rawson Haverty, Jr.                                                                   100,451

Clarence H. Smith                                                                          65,130

Frank S. McGaughey, III                                                              65,985

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