Document:

Exhibit 10.9

 

	
  

  	
  ED & F MAN TREASURY MANAGEMENT plc

  

 

28th May 2009

 

Mr T Masilla

Westway Group, Inc

365 Canal
Street

Suite 2900

New Orleans

LA 70130

USA

 

Dear Tom

 

In accordance
with our existing practices with you, this letter sets out the basis upon which
ED&F Man Treasury Management plc (“MTM”) makes available until 31st August 2009 the following facilities to Westway Group and its subsidiaries :

 

a)              a foreign exchange facility;

 

b)             an overdraft facility in foreign currencies;
and

 

c)              a facility for standby and documentary
letters of credit, bonds and guarantees (“Contingent Liabilities”)

 

a) The foreign exchange facility

 

Westway Group, Inc and its
subsidiaries may request MTM to transact foreign
exchange contracts for both spot and forward delivery up to 180 days from the
date of the contract for the sale or purchase of any freely convertible
currency.  You will benefit from the same
rate as MTM is given by the bank which is used to
hedge each foreign exchange contract. The net marked to market exposure limit
will be US$1,000,000, to be calculated by MTM.  Should you
exceed the exposure limit, you will pay the necessary margin in cash to reduce
the exposure to within the limit.  The
foreign exchange contracts will be settled via your overdraft facility in
foreign currencies.  You hereby agree to
check all confirmations sent to you within one day of receipt of such
confirmations.  You will notify any
discrepancies to Treasury Operations immediately and your failure to do so will
be at your risk.  Treasury Operations
will only accept payment instructions from you which are duly authorised in
accordance with your signature mandates.

 

 

b) Overdraft facility in foreign currencies

 

Westway Group, Inc and its
subsidiaries may borrow up to an aggregate limit of the equivalent of US$5,000,000 in various currencies by overdrawing your
current accounts with MTM, by way of your issuing a
payment instruction in accordance with our existing practices.  Interest on such accounts will be charged at
the one month LIBOR rate plus 3.5%, fixed daily.  This is the same charging mechanism as you
have benefitted from historically.  The outstanding amounts under this overdraft
facility will be payable on demand.

 

For deposits
of any kind, you will be paid interest based on LIBOR.  Interest will be credited by MTM on a monthly basis, and calculated on a 365 day year
for Sterling deposits, and a 360 day year for deposits in other currencies.

 

c) The contingent liability facility

 

Subject to MTM having available credit facilities over and above those
required for its own business, MTM will request its
banks to issue contingent liabilities on their terms and conditions in the name
of Westway Group, Inc or any of its subsidiaries, but
under the risk and responsibility of MTM in relation to
the banks we use to issue such instruments. 
Requests to issue contingent liabilities must be signed in accordance
with your signature mandate.  Please sign
and return the attached General Counter Indemnity which will cover any
instruments outstanding at today’s date, and any instruments we agree to issue
on your behalf in the future.  You will
be charged fees of 2% per annum, payable monthly on such contingent
liabilities, or such higher amounts as MTM may itself
have to pay to its banks.

 

MTM shall be entitled to
terminate or suspend any of the above arrangements following any default by Westway Group, Inc and/or any of its subsidiaries in
respect of any of these arrangements or the Interim Facility Agreement dated 28th May 2009.

 

Please sign
the attached list of outstanding current account balances, foreign exchange
contracts and contingent liabilities to signify that you accept responsibility
for their due and prompt performance.

 

This letter is
hereby designated a Finance Document under the Facility Agreement for US$100,000,000 dated 28th May 2009 between Westway
Group, Inc, Westway Holdings Netherlands BV as
borrowers, Westway Group, Inc as guarantor, and ED&F Man Treasury Management plc as lender.

 

 

Please sign
and return the attached duplicate of this letter, the attached General
Counter-indemnity, and the attached outstanding liabilities in respect of
current account overdrafts, foreign exchange contracts and contingent
liabilities.

 

Yours
sincerely

 

	
  /s/ Molly W
  Harvey

  	
   

  
	
  Molly W
  Harvey

  

Director

 

ACCEPTED AND
AGREED

For and on
behalf of Westway Group, Inc and its subsidiaries

 

	
  /s/ Thomas Masilla

  	
   

  
	
  Thomas Masilla

  

Chief
Financial Officer

 

 

EXISTING CONTINGENT LIABILITIES as at 28th May 2009

WESTWAY GROUP, INC

 

1) Westway
Terminals Nederland BV - EUR 1,487,672.00 Customs
Bond, issued by Fortis Bank, Amsterdam in favour of Belastingdienst
Douane  Noord - no expiry
date.

 

2) Westway
Feeds Products Inc.- US$333,900.00 a Performance Bond
issued by Fortis Bank, London, in favour of Green Earth Fuels of Houston LLC -
current expiry date 20th June 2009.

 

Accepted for and on behalf
of Westway Group, Inc

 

	
  /s/ Thomas Masilla

  	
   

  
	
  Thomas Masilla

  

Chief Financial Officer

 

GENERAL COUNTER INDEMNITY

 

	
  TO:

  	
   

  	
  E D & F Man Treasury Management plc

  
	
   

  	
   

  	
  Cottons Centre, Hay’s Lane, London SE1 2QE address

  

 

WHEREAS

 

from time to time pursuant to and in accordance with the facility
letter dated 28th May 2009
agreed between us we, Westway Group, Inc (the “Company”)  may request and you may agree, on our behalf,
and at our risk and responsibility in our own name or in the name of our
subsidiaries, to issue indemnities, standby letters of credit, guarantees, bid
bonds, performance bonds, advance payment bonds or retention bonds and similar
instruments (each an “Undertaking” and together the “Undertakings” which
expression includes any amendment or variation thereto effected at our
request);

 

NOW THEREFORE

 

In consideration of your issuing or procuring the issuing of any
Undertaking pursuant to our request we hereby agree as follows:

 

1.                                      To
indemnify you and keep you indemnified from and against all actions,
proceedings, claims and demands which may be brought or made against you and
all losses, costs, charges, damages and expenses (including all reasonable
legal and other costs, charges and expenses you may incur in connection with
any Undertaking, or in enforcing or attempting to enforce your rights under
this Indemnity) which you may incur or sustain or for which you may become
liable by reason either directly or indirectly of you having issued any
Undertaking (the “Liabilities”) and to pay to you on demand all payments,
losses, costs, charges and expenses (including all reasonable legal and other
costs, charges and expenses you may incur in connection with any Undertaking,
or in enforcing or attempting to enforce your rights under this Indemnity)
made, incurred or sustained by you in consequence thereof or arising therefrom
together with interest thereon at your prevailing rate for the time being for
call money loans in the appropriate currency in the London Interbank market
from the date on which any Liability was first paid or incurred by you to the
date of actual payment thereof in full by us after as well as before judgment.

 

2.                                      To
further indemnify you against any loss incurred by you as a result of any
judgment or order being given or made for the payment of any amount due
hereunder and such judgment or order being expressed in a currency other than
that in which such amount is payable by us hereunder, and as a result of any
variation having occurred in rates of exchange between the date at which such
amount is converted into such other currency for the purposes of such judgment
or order and the date of actual payment pursuant thereto. The foregoing
indemnity shall constitute a separate and independent obligation on our part
and shall continue in full force and effect notwithstanding any such judgment
or order as aforesaid.

 

3.                                      With
respect to any Undertaking issued pursuant to our request you are hereby
irrevocably authorised and directed to pay forthwith any sums which may be
demanded of you from time to time and which appear or purport on their face to
be made in accordance with the terms of such Undertaking and 

 

 

by or on behalf of the beneficiary of the relevant Undertaking up to
the limit of your liability under such Undertaking without any reference to or
any necessity for confirmation or verification on our part; provided always that
in the event that an Undertaking stipulates that a demand made upon you shall
be accompanied by any document or documents then such document or documents
must appear on its or their face to be in accordance with the terms of the
Undertaking.

 

4.                                      This
Indemnity shall be a continuing indemnity and shall extend to the ultimate
balance of the Liabilities incurred by you under or pursuant to the
Undertakings. This Indemnity shall be in addition to any other security held by
you in respect of the Undertakings.

 

5.                                      All
amounts payable by us hereunder shall be paid to you in immediately available
funds in the same currency stipulated in the demand pursuant to which such
payment is made at your office or such bank or office as you may designate and
made without set-off or counter-claim and free and clear of all taxes and
without any deduction whatsoever. If we are obliged to make any such deduction
we will pay such additional amounts as may be necessary to ensure that you
receive an amount equal to the full amount demanded.

 

6.                                      You
are to be at liberty, but not bound, to resort for your own benefit to any
other means of payment at any time and in any order you think fit without
thereby diminishing our liability hereunder and you may enforce your rights
under this Indemnity either for the payment of the ultimate balance after
resorting to other means of payment or for the balance due at any time
notwithstanding that other means of payment have not been resorted to and in
the latter case without entitling us to any benefit from such other means of
payment so long as any monies remain due or owing or payable (whether actually
or contingently) from or by us to you.

 

7.                                      This
Indemnity shall be governed by and construed in accordance with English
law.  The courts of England have
exclusive jurisdiction to settle any dispute arising out of or in connection
with this Indemnity (including a dispute regarding the existence, validity or
termination of this Indemnity).

 

IN WITNESS whereof this Indemnity has been signed on behalf of the
Company.

 

 

	
  By:

  	
  /s/ Thomas
  Masilla

  	
   

  
	
   

  	
  Thomas Masilla

  
	
   

  	
  Chief Financial Officer

  
	
   

  	
   

  
	
   

  	
   

  
	
  28th May 2009Exhibit
10.1

 

Third Amendment to Employment Agreement

 

This
Third Amendment to Employment Agreement (this “Third Amendment”) is made as of May 29,
2009 (the “Effective Date”) between Scientific Games Corporation, a Delaware
corporation (“SGC” or the “Company”), and A. Lorne Weil (“Executive”) (collectively
the “Parties”).

 

WHEREAS,
Executive has been employed pursuant to an Employment Agreement effective as of
January 1, 2006 between the Parties (the “2006 Agreement”) as clarified by
a letter agreement dated as of August 2, 2007 by the Parties regarding
amounts payable under the Company’s Elective Deferred Compensation Plan (formerly
known as the Key Executive Deferred Compensation Plan) (the “EDCP Payment
Letter”) and as amended by the Amendment dated as of May 1, 2008 between
the Parties (the “May 2008 Amendment”) and the Amendment dated as of December 30,
2008 between the Parties (the “December 2008 Amendment” and together with
the 2006 Agreement, the EDCP Payment Letter, and the May 2008 Amendment,
the “Agreement”); and

 

WHEREAS,
the Parties wish to further amend the Agreement.

 

NOW,
THEREFORE, IT IS HEREBY AGREED AS FOLLOWS:

 

1.             Agreement Remains In Effect;
Definitions.  Except as
specifically provided herein, all terms of the Agreement shall remain in effect.  References to “this Agreement,” “herein,” “hereof,”
“hereby” and words of similar import in the 2006 Agreement shall refer to the
2006 Agreement as amended by this Third Amendment, the December 2008
Amendment, the May 2008 Amendment and the EDCP Payment Letter, all of
which shall be read together as a single agreement.  References in the Agreement to Sections,
Subsections, paragraphs and clauses thereof shall refer to those Sections,
Subsections, paragraphs and clauses as the same are amended by the terms of
this Third Amendment.  As amended by this
Third Amendment, the December 2008 Amendment, the May 2008 Amendment,
the EDCP Payment Letter, and the 2006 Agreement are hereby ratified, confirmed
and continued by the Parties. 
Capitalized terms that are used but not defined in this Third Amendment
shall have the meanings given to them in the Agreement.

 

2.             Amendment to Section 2 of
Agreement.  The second
sentence of Section 2 of the Agreement is hereby amended by replacing the date
“December 31, 2011” with the date “December 31, 2013”.

 

3              Amendments to Section 4 of
Agreement.

 

(a) The
following sentence hereby amends and replaces the next-to-the-last sentence of Section 4(a) of
the Agreement:

 

“Notwithstanding
the foregoing, (a) the Base Salary for 2010 shall be equal to the product
of (I) one million dollars ($1,000,000.00) multiplied by (II) the sum
of 1 plus a fraction the numerator of which is the difference between the CPI
for December 2009 and the CPI for December 2008 and the denominator
of which is the CPI for December 2008 (provided, that if such fraction is
zero or a negative number, the Base Salary for 2010 shall be the amount set
forth in (I) of this clause (a); (b) the Base Salary for 2011 

 

1

 

shall
be equal to the product of (I) one million dollars ($1,000,000.00)
multiplied by (II) the sum of 1 plus a fraction the numerator of which is
the difference between the CPI for December 2010 and the CPI for December 2008
and the denominator of which is the CPI for December 2008 (provided, that
if such fraction is zero or a negative number, the Base Salary for 2011 shall
be the same as the Base Salary for 2010); (c) the Base Salary for 2012
shall be equal to the product of (I) one million dollars ($1,000,000.00)
multiplied by (II) the sum of 1 plus a fraction the numerator of which is
the difference between the CPI for December 2011 and the CPI for December 2008
and the denominator of which is the CPI for December 2008 (provided, that
if such fraction is zero or a negative number, the Base Salary for 2012 shall
be the same as the Base Salary for 2011); (d) the Base Salary for 2013
shall be equal to the product of (I) one million dollars ($1,000,000.00)
multiplied by (II) the sum of 1 plus a fraction the numerator of which is
the difference between the CPI for December 2012 and the CPI for December 2008
and the denominator of which is the CPI for December 2008 (provided, that
if such fraction is zero or a negative number, the Base Salary for 2013 shall
be the same as the Base Salary for 2012); and (e) if the Term is extended
past December 31, 2013 pursuant to Section 2 hereof, the Base Salary
for each such one-year extension term, unless otherwise agreed in writing by
Executive and the Company, shall be (I) one million dollars
($1,000,000.00) multiplied by (II) the sum of 1 plus a fraction the
numerator of which is the difference between the CPI for December of the
year immediately preceding such extension term and the CPI for December 2008
and the denominator of which is the CPI for December 2008 (provided, that
if such fraction is zero or a negative number, the Base Salary for such
extension term shall be the same as the Base Salary for the year immediately
preceding such extension term).”

 

(b) Section 4(b) of
the Agreement is hereby amended and restated in its entirety as follows:

 

“Incentive
Compensation.  During each year of the
Term beginning with (and including) 2009, Executive shall receive a bonus (the “Target
Bonus”) of 100% of Base Salary for such year. 
For the avoidance of doubt, such bonus shall not be subject to
performance targets or other performance criteria.  The Target Bonus for each year shall be paid
to Executive at the time that incentive compensation is paid to the Company’s senior
executives for such year, but in no event later than March 31 of the
following year, except that the Company shall make available to Executive an
opportunity to defer receipt of such compensation under a deferred compensation
plan that may be maintained by the Company at the relevant time.  Executive’s entitlement to incentive
compensation for years prior to 2009 shall continue to be governed by the terms
of this Section 4(b) as in effect prior to the effective date of the
Third Amendment to this Agreement as of May 29, 2009.”

 

(c) The  first sentence of Section 4(c) of the Agreement
is hereby amended by deleting the words “during 2010 and 2011” and replacing
such words with the words “during 2010, 2011, 2012 and 2013”.

 

4.             Amendment to Section 5 of
Agreement.  Section 5(a)(iv) of
the Agreement is hereby amended and restated in its entirety as follows:

 

“In
lieu of any incentive compensation or bonus under Section 4(b) for
the year of termination, an amount equal to the Target Bonus for the year of
termination, multiplied by a fraction the numerator of which is the number of
days Executive was employed in the year of termination and the denominator of
which is 

 

2

 

the
total number of days in the year of termination.  Such sum will be payable in a lump sum in
accordance with Section 5(f) of the Agreement;”

 

5.             Correction
of Section 3 of December 2008 Amendment.  In Section 3 of the December 2008
Amendment, the phrase “and ending with “addition”” is hereby deleted and replaced
by the phrase “and ending with “additional””.

 

6.             Amendment
of Fourth “Whereas” Clause of May 2008 Amendment.  The fourth “Whereas” clause of the May 2008
Amendment is hereby amended by adding the following words at the end of the
parenthetical clause thereof, after the words “Section 2 hereof” and
before the closed parenthesis: “or may be extended by a further amendment of Section 2
of the 2006 Agreement”.

 

7.             Amendment
of Section 7(a) of May 2008 Amendment. Section 7(a) of
the May 2008 Amendment is hereby amended by deleting the words “the first
business day immediately following the end of the Term on December 31,
2011, but in no event later than the tenth business day immediately following
such end of the Term” and replacing such words with the words “the first
business day immediately following December 31, 2011, but in no event
later than the tenth business day immediately following December 31, 2011”.

 

8.             Amendment
of the first sentence of Section 10 of the May 2008 Amendment.  Section 10 of the May 2008
Amendment is hereby amended by deleting the opening words “Throughout the Term
as extended by (and subject to further extensions pursuant to) this Amendment,”
and replacing such words with the words “Throughout the Term (and subject to
further extensions),”.

 

9.             Governing Law.  This Third Amendment shall be governed by and
construed in accordance with the laws of the State of New York applicable to
agreements made and to be wholly performed within that State, without regard to
its conflict of laws provisions or where the parties are located at the time a
dispute arises.

 

10.           Titles and Captions.  All paragraph titles or captions in this
Amendment are for convenience only and in no way define, limit, extend or
describe the scope or intent of any provision hereof.

 

11.           Counterparts.  This Third Amendment may be executed in two
or more counterparts, each of which when so executed shall be deemed to be an
original and all of which taken together shall constitute one and the same
instrument.  Delivery of an executed
counterpart of a signature page to this Third Amendment by facsimile
transmission shall be as effective as delivery of a manually executed
counterpart of this Third Amendment.

 

[signature page follows]

 

3

 

IN
WITNESS WHEREOF, each of the parties hereto has duly executed this Third Amendment
on May 29, 2009, to be deemed effective as of the Effective Date first
above written.

 

 

SCIENTIFIC
GAMES CORPORATION

 

	
  By:

  	
  /s/
  Joseph R. Wright

  	
   

  
	
  Name:

  	
  Joseph
  R. Wright

  
	
  Title:

  	
  Chief
  Executive Officer

  

 

 

EXECUTIVE

 

	
  A.
  Lorne Weil

  	
   

  

Name:
A. Lorne Weil

 

4

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