Document:

Amendment No. 7 to the Credit Agreement

 Exhibit 10.1 
 AMENDMENT NO. 7 
 This AMENDMENT NO. 7 (“AMENDMENT”) is made as of November 8,
2006, by and among DOVER MOTORSPORTS, INC., a Delaware corporation, DOVER INTERNATIONAL SPEEDWAY, INC., a Delaware corporation, GATEWAY INTERNATIONAL MOTORSPORTS CORPORATION, an Illinois corporation, GATEWAY INTERNATIONAL SERVICES CORPORATION, an
Illinois corporation, MEMPHIS INTERNATIONAL MOTORSPORTS CORPORATION, a Tennessee corporation, M&N SERVICES CORP., a Tennessee corporation, and NASHVILLE SPEEDWAY USA, INC., a Tennessee corporation (collectively, “BORROWERS”);
MERCANTILE-SAFE DEPOSIT AND TRUST COMPANY, a Maryland banking corporation as agent (“AGENT”); MERCANTILE-SAFE DEPOSIT AND TRUST COMPANY, a Maryland banking corporation in its capacity as issuer of letters of credit (“ISSUING
BANK”); and WILMINGTON TRUST COMPANY, MERCANTILE-SAFE DEPOSIT AND TRUST COMPANY, WILMINGTON SAVINGS FUND SOCIETY, FSB and PNC BANK, DELAWARE (collectively, “LENDERS”). 
 RECITALS 
 The BORROWERS, the AGENT, the ISSUING BANK and the LENDERS are
parties to that certain Credit Agreement executed February 17, 2004 and effective as of February 19, 2004, as previously amended (“CREDIT AGREEMENT”), pursuant to which the LENDERS and the ISSUING BANK are providing to the
BORROWERS certain credit facilities (“CREDIT FACILITIES”). 
 The BORROWERS’ repayment obligations in connection with the
CREDIT FACILITIES are evidenced by: (a) the Amended and Restated Revolving Loan Promissory Note in the stated principal amount of Thirty-One Million Four Hundred Twenty-Eight Thousand Five Hundred Sixty-Eight Dollars ($31,428,568.00) from the
BORROWERS to the order of Mercantile-Safe Deposit and Trust Company effective as of February 19, 2004 (“MERCANTILE NOTE”); (b) the Amended and Restated Revolving Loan Promissory Note in the stated principal amount of Seventeen
Million One Hundred Forty-Two Thousand Eight Hundred Fifty-Six Dollars ($17,142,856.00) from the BORROWERS to the order of Wilmington Trust Company effective as of February 19, 2004 (“WILMINGTON TRUST NOTE”); (c) the Amended and
Restated Revolving Loan Promissory Note in the stated principal amount of Seventeen Million One Hundred Forty-Two Thousand Eight Hundred Fifty-Six Dollars ($17,142,856.00) from the BORROWERS to the order of PNC Bank, Delaware effective as of
August 5, 2005 (“PNC NOTE”); and (d) the Amended and Restated Revolving Loan Promissory Note in the stated principal amount of Fourteen Million Two Hundred Eighty-Five Thousand Seven Hundred Twenty Dollars ($14,285,720.00) from
the BORROWERS to Wilmington Savings Fund Society, FSB effective as of August 5, 2005 (“WILMINGTON SAVINGS NOTE”). 
 As used
herein the term “LOAN DOCUMENTS” means collectively the CREDIT AGREEMENT, the MERCANTILE NOTE, the WILMINGTON TRUST NOTE, the PNC 

 
NOTE, the WILMINGTON SAVINGS NOTE and all other documents evidencing the obligations in connection with the CREDIT FACILITIES. 
 The BORROWERS have requested that the AGENT, the LENDER and the ISSUING BANK agree to an amendment of one of the financial covenants contained in the
CREDIT AGREEMENT. 
 The AGENT, the LENDERS and the ISSUING BANK are willing to consent to the request of the BORROWERS subject to the terms
and provisions of this AMENDMENT. 
 NOW, THEREFORE, in consideration of the premises, and other good and valuable consideration, the receipt
and adequacy of which are hereby acknowledged, the parties agree as follows: 
 Section 1. Recitals. The parties acknowledge the
accuracy of the above recitals and hereby incorporate the recitals into this AMENDMENT. 
 Section 2. Amendment to Credit
Agreement. Effective as of September 30, 2006, Section 5.18 of the CREDIT AGREEMENT is hereby amended by deleting its present language in its entirety and substituting in lieu thereof the following: 
 Section 5.18. Tangible Net Worth. The BORROWERS shall maintain a CONSOLIDATED TANGIBLE NET WORTH of not less than Sixty-Two Million Five
Hundred Thousand Dollars ($62,500,000.00) plus twenty-five percent (25%) of the aggregate CONSOLIDATED NET INCOME of the BORROWERS from March 31, 2007 to the date of determination. 
 Section 3. Other Terms. Except as specifically modified herein, all other terms and provisions of the CREDIT AGREEMENT and all other
documents evidencing or otherwise documenting the terms and provisions of the credit facilities being provided by the LENDERS and the ISSUING BANK to the BORROWERS remain in full force and effect and are hereby ratified and confirmed. 
 Section 4. Choice of Law. The laws of the State of Maryland (excluding, however, conflict of law principals) shall govern and be applied to
determine all issues relating to this AMENDMENT and the rights and obligations of the parties hereto, including the validity, construction, interpretation and enforceability of this AMENDMENT. 
 Section 5. Fee. In consideration for the agrreement of the LENDERS, the BORROWERS shall pay to the AGENT, for the benefit of the LENDERS, on
the date of this AMENDMENT a fee in the amount of Thirty-Five Thousand Dollars ($35,000.00). In addition the BORROWERS shall pay to the AGENT the costs and expenses incurred by theAGENT in connection with the preparation and negotiation of this
AMENDMENT. 
  

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 Section 6. Delivery by Telecopier. This AMENDMENT may be delivered by telecopier and a
facsimile of any party’s signature hereto shall constitute an original signature for all purposes. 
 Section 7.
Counterparts. This AMENDMENT may be executed in counterparts each of which shall be binding upon the signatories but all of which shall constitute one and the same agreement. 
 IN WITNESS WHEREOF, the parties have executed this AMENDMENT with the specific intention of creating a document under seal. 
  

					
	BORROWERS:	 	
		
	DOVER MOTORSPORTS, INC.,	 	
	A Delaware Corporation	 	
			
	By:	 	 /s/ Thomas G. Wintermantel
	 	(SEAL)
	Name:	 	Thomas G. Wintermantel	 	
	Title:	 	Treasurer & Asst. Secretary	 	
	
	DOVER INTERNATIONAL SPEEDWAY, INC.,
	A Delaware Corporation	 	
			
	By:	 	 /s/ Thomas G. Wintermantel
	 	(SEAL)
	Name:	 	Thomas G. Wintermantel	 	
	Title:	 	Treasurer & Asst. Secretary	 	
		
	GATEWAY INTERNATIONAL	 	
	MOTORSPORTS CORPORATION,	 	
	An Illinois Corporation	 	
			
	By:	 	 /s/ Thomas G. Wintermantel
	 	(SEAL)
	Name:	 	Thomas G. Wintermantel	 	
	Title:	 	Treasurer & Asst. Secretary	 	
	
	GATEWAY INTERNATIONAL SERVICES
	CORPORATION, An Illinois Corporation
			
	By:	 	 /s/ Tony R. Evans
	 	(SEAL)
	Name:	 	Tony R. Evans	 	
	Title:	 	Treasurer & Secretary	 	

  

 3 

					
	BORROWERS (cont.):	 	
	
	MEMPHIS INTERNATIONAL MOTORSPORTS CORPORATION, A Tennessee Corporation
			
	By:	 	 /s/ Thomas G. Wintermantel
	 	(SEAL)
	Name:	 	Thomas G. Wintermantel	 	
	Title:	 	Treasurer & Asst. Secretary	 	
		
	M&N SERVICES CORP.,	 	
	A Tennessee Corporation	 	
			
	By:	 	 /s/ Tony R. Evans
	 	(SEAL)
	Name:	 	Tony R. Evans	 	
	Title:	 	Treasurer & Secretary	 	
	
	NASHVILLE SPEEDWAY USA, INC.,
	A Tennessee Corporation	 	
			
	By:	 	 /s/ Thomas G. Wintermantel
	 	(SEAL)
	Name:	 	Thomas G. Wintermantel	 	
	Title:	 	Treasurer & Asst. Secretary	 	
		
	AGENT:	 	
	
	MERCANTILE-SAFE DEPOSIT AND TRUST
	COMPANY, A Maryland Banking Corporation
			
	By:	 	 /s/ C. Douglas Sawyer
	 	(SEAL)
	Name:	 	C. Douglas Sawyer	 	
	Title:	 	Senior Vice President	 	

  

 4 

					
	LENDERS:	 	
	
	WILMINGTON TRUST COMPANY
			
	By:	 	 /s/ Michael B. Gast
	 	(SEAL)
	Name:	 	Michael B. Gast	 	
	Title:	 	Vice President	 	
	
	MERCANTILE-SAFE DEPOSIT AND TRUST COMPANY
			
	By:	 	 /s/ C. Douglas Sawyer
	 	(SEAL)
	Name:	 	C. Douglas Sawyer	 	
	Title:	 	Senior Vice President	 	
	
	WILMINGTON SAVINGS FUND SOCIETY, FSB
			
	By:	 	 /s/ M. Scott Baylis
	 	(SEAL)
	Name:	 	M. Scott Baylis	 	
	Title:	 	Senior Vice President	 	
	
	PNC BANK, DELAWARE
			
	By:	 	 /s/ Warren C. Engle
	 	(SEAL)
	Name:	 	Warren C. Engle	 	
	Title:	 	Senior Vice President	 	
		
	ISSUING BANK:	 	
	
	MERCANTILE-SAFE DEPOSIT AND TRUST COMPANY
			
	By:	 	 /s/ C. Douglas Sawyer
	 	(SEAL)
	Name:	 	C. Douglas Sawyer	 	
	Title:	 	Senior Vice President	 	

  

 5Form of Performance Unit Award Agreement

 Exhibit 10.1 
 NATCO GROUP INC. 
 2006 LONG-TERM INCENTIVE COMPENSATION PLAN 
 Form of Performance Unit Award Agreement 
  

			
	Grantee:	  	                                     
           
		
	Date of Grant:	  	June 30, 2006
		
	PU Grant No.:	  	                                     
           

 1. Notice of Grant. You are hereby granted the following Performance Unit Award under the NATCO Group Inc.
2006 Long-Term Incentive Compensation Plan (the “Plan”), subject to the terms and conditions of the Plan and this Agreement. 
 2. Number of
Performance Units. The number of performance units (“Performance Units”) granted to you under this Performance Award is                 . Each
Performance Unit shall have a target value of $1.00. The actual value, if any, of a Performance Unit at the end of the Performance Period will be determined based on the level of achievement during the Performance Period of the performance measures
set forth in Attachment A hereto, which is made a part of this Agreement for all purposes. 
 3. Events Occurring Prior to the End of the Performance
Period. 
  

	 	(a)	Death or Disability. If, prior to the end of the Performance Period, you incur a Termination of Service as a result of your death or disability (as determined by the
Committee), the Performance Units will become 100% vested upon such termination and paid at target. 

  

	 	(b)	Retirement. If, prior to the end of the Performance Period, you retire from the Company, and you have at least 10 years of continuous service with the Company, its
predecessors or affiliates and are at least 60 years of age you will receive a pro-rata payment of target value upon such retirement. 

  

	 	(c)	Other Terminations. If your employment with the Company or any of its subsidiaries is terminated prior to the end of the Performance Period for any reason other than provided
in 3(a), all unvested Performance Units held by you shall be forfeited immediately without payment upon such termination. 

  

	 	(d)	Change of Control. Notwithstanding any other provision hereof, the Performance Units shall become fully vested upon the occurrence of a Corporate Change during the
Performance Period and paid at target. 

 4. Payment of Vested Units. As soon as administratively practicable after the end of the
Performance Period or, if earlier, the date of a Corporate Change, you shall be entitled to receive from the Company a payment in cash equal to the product of the Payout Percentage (as set forth in Attachment A) and the value of your vested
Performance Units as determined in Attachment A. Notwithstanding the foregoing, however, (a) payment may not be made prior to the first day 
  

 1 

 such payment would not be subject to the additional tax imposed by Section 409A of the Code, (b) in no event
may the amount paid to you by the Company in any year with respect to Performance Units earned hereunder exceed $5,000,000 if you are a “covered employee” for purposes of Section 162 (m) of the Code and (c) you shall not be
entitled to receive payment until you have completed one year of service with the Company or its Affiliates from the date of grant of this Award, unless such requirement is waived by the Committee in the case of death, disability, retirement,
involuntary separation without cause or a Corporate Change. 
 5. Nontransferability of Award. This Award may not be transferred in any manner
otherwise than by will or by the laws of descent or distribution. The terms of the Plan and this Agreement shall be binding upon your executors, administrators, heirs, successors and assigns. 
 6. Entire Agreement. This Agreement constitutes the entire agreement of the parties with regard to the subject matter hereof, and contains all the covenants,
promises, representations, warranties and agreements between the parties with respect to the Award granted hereby. Without limiting the scope of the preceding sentence, all prior understandings and agreements, if any, among the parties hereto
relating to the subject matter hereof are hereby null and void and of no further force and effect. 
 7. Governing Law. This Agreement shall be
governed by, and construed in accordance with, the laws of the State of Delaware, without regard to conflicts of laws principles thereof. 
 8.
Withholding of Tax. To the extent that the grant or vesting of a Performance Unit results in compensation income or wages by you with respect to which the Company has a withholding obligation pursuant to applicable federal, state or local tax
purposes, unless other arrangements have been made by you that are acceptable to the Company, you may elect to have the Company withhold, or shall deliver to the Company, such amount of money as the Company may require to meet its minimum
withholding obligations under such applicable tax laws or regulations. No payment shall be made under this Agreement until you have paid or made arrangements approved by the Company to satisfy all applicable minimum tax withholding requirements of
the Company. 
 9. Amendment. Except as provided below, this Agreement may not be adversely modified in any respect by any verbal statement,
representation or agreement or by any employee, officer or representative of the Company or by any written agreement, unless signed by you and by an officer of the Company (or member of the Committee) who is expressly authorized by the Company to
execute such document. Notwithstanding anything in the Plan or this Agreement to the contrary, if the Committee determines that the terms of this grant do not, in whole or in part, satisfy the requirements of Section 409A of the Code, the
Committee, in its sole discretion, may unilaterally modify this Agreement in such manner as it deems appropriate to comply with such section and any regulations or guidance issued thereunder. 
 10. General. You agree that this Award is granted under and governed by the terms and conditions of the Plan and this Agreement. In the event of any conflict, the
terms of the Plan shall control. Unless otherwise defined in this Agreement, the terms defined in the Plan shall have the same defined meanings in this Agreement. 
  

 2 

 11. Administration of the Plan. As provided in the Plan, the administration of the Plan including this Performance
Unit Award Agreement is the responsibility of the Governance, Nominating & Compensation Committee of the Board of Directors of the Company. 
 IN WITNESS WHEREOF, the Company has caused this Agreement to be duly executed by an officer or Committee member thereunto duly authorized, effective as of the day and year first above written. 
  

			
	NATCO GROUP INC.
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	Recipient
	
	  
 [Name]

 [Recipients are all officers of the Company ranked Senior Vice President or higher and
include all named executive officers as of June 30, 2006.] 
  

 3 

 Attachment A 
 The provisions of this Attachment A shall determine the extent, if any, that the awarded Performance Units become “earned” and payable. 
 1. Performance Period. The Performance Period shall be the period beginning July 1, 2006 and ending June 30, 2009. In the event of a Corporate Change, the Performance Period shall be the period beginning on July 1,
2006 and ending on the date of the Corporate Change. 
 2. Total Return to Shareholders (“TRS”). The payment of a Performance Unit will be
determined based on the comparison of the TRS (as defined below) of the Company’s common stock for the Performance Period relative to the TRS of each of the common stocks of the Peer Group for the Performance Period. TRS shall be determined by
calculating the value of $100 invested in Company common stock on the first day of the Performance Period, with dividends reinvested, compared to $100 invested in each of the Peer Group companies, with dividend reinvestment, during the same period.
The TRS will be measured for the Company and the peer group companies from the first to the last trading day of the Performance Period. Notwithstanding the foregoing, no payment shall be made unless the Company has a TSR of at least 5.21 % (the
3-year U.S. Treasury bill rate as of June 30, 2006) for the Performance Period. 
 3. Peer Group. The Peer Group companies will be the companies
comprising the Philadelphia Stock Exchange’s Oil Service Sector Index (or its successor) on the last trading day of the Performance Period. 
 4.
Performance Standards and Awards Paid. For the Performance Units to be earned and payable, the Company’s TSR at the end of the Performance Period must equal or exceed a relative threshold of 40% compared to the Peer Group companies. At
the threshold, 50% of the Performance Units awarded shall be earned. The Committee has established a target performance level at which the Company’s TSR at the end of the Performance Period would equal or exceed a relative threshold of 50%
compared to the Peer Group companies, at which 100% of the Performance Units awarded shall be earned. The Committee has established a maximum performance level at which the Company’s TSR at the end of the Performance Period would equal or
exceed a relative threshold of 75% compared to the Peer Group companies, at which 200% of the Performance Units awarded shall be earned. Awards earned will be calculated using straight-line interpolation for performance between the threshold and
target performance levels and the target and maximum performance levels. The maximum amount of compensation that may be paid under all performance awards paid in cash to any one individual during any calendar year may not exceed $5 million.

 The following table illustrates certain performance/payout relationships for the Performance Units. 
  

 A-1 

 Attachment A 
 (Continued) 
  

						
	 Performance Level
	  	 Company Performance Relative to Peer Group
	  	Percent of Award
Payable	 
	 Maximum
	  	Relative TSR of 75th percentile or greater	  	200	%
		  	Relative TSR of 70th percentile	  	167	%
		  	Relative TSR of 62nd percentile	  	133	%
	 Target
	  	Relative TSR of 50th percentile	  	100	%
		  	Relative TSR of 47th percentile	  	83	%
		  	Relative TSR of 43rd percentile	  	67	%
	 Threshold
	  	Relative TSR of 40th percentile	  	50	%
	 Below Threshold
	  		  	0	%

  

 A-2

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