Document:

Exhibit 10.3

 

Six Flags Entertainment Corporation
 Supplemental 401(k) Plan

 

1.               Purpose and Status

 

The purpose of the Six Flags Entertainment Corporation Supplemental 401(k) Plan (hereinafter, “the Plan”) is to attract and retain certain select management or highly compensated employees of the Company by providing a means for such employees to defer Compensation and receive Company matching contributions outside of the 401(k) Plan which is subject to certain limitations under the Code.  The Plan provides Eligible Employees the opportunity to defer a portion of their Compensation without such portion being limited by Code restrictions applicable to the 401(k) Plan.  The Plan also enables the Company to credit each Eligible Employee with Supplemental Matching Credits to the extent of contributions to this Plan and to the extent that allocations of matching contributions under the 401(k) Plan are limited by the Code.  This Plan is effective with respect to the deferral of Compensation commencing with the payroll period including the Effective Date and for Supplemental Matching Credits for 2012.

 

The Plan is intended to be an unfunded deferred compensation plan for a select group of management or highly compensated employees within the meaning of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”).

 

2.               Eligibility and Participation

 

(a)                                  Eligible Employees as Participants.  Each Eligible Employee is a Participant in the Plan.

 

(b)                                 Deferral Elections.  Participants may elect to defer Compensation pursuant to this Plan.  In order to make deferrals under this Plan, the Participant must complete a Supplemental Plan Deferral Election Form to indicate the amount he or she elects to defer in accordance with procedures established by the Administrator.  Eligible Employees as of the Effective Date must have completed a Supplemental Plan Deferral Election Form by June 29, 2012 in accordance with procedures established by the Administrator in order to defer Compensation consisting of base salary for payroll periods in 2012 commencing with the payroll period including the Effective Date and for any bonus payable in 2013 related to 2012.  For 2013 and subsequent Plan Years, the Supplemental Plan Deferral Election Form must be completed before January 1 of the Plan Year with respect to which Compensation is to be deferred in accordance with procedures established by the Administrator.  A Participant’s Supplemental Plan Deferral Election Form is irrevocable for the Plan Year to which it is applicable prior to the start of such Plan Year in accordance with procedures established by the Administrator.  Notwithstanding the general irrevocability of the Supplemental Plan Deferral Election, such Supplemental Plan Deferral Election shall not apply to Compensation with respect to any payroll period that ends after the Participant receives a hardship withdrawal under the 401(k) Plan or an Unforeseeable Emergency distribution under this Plan and within the same Plan Year as the hardship withdrawal or Unforeseeable Emergency distribution, as applicable.

 

(c)                                  Maximum Contribution to 401(k) Plan Required for Matching Credits.  In order to receive Supplemental Matching Credits for a Plan Year as set forth in Section 3, a Participant must have actually deferred the maximum contribution to the 401(k) Plan permitted by Section 402(g) of the Code (for those eligible to make catch-up contributions $22,500 for 2012 and for others $17,000 for 2012, as such dollar amounts are adjusted from time to time) for the applicable Plan Year and must have satisfied the eligibility requirements under the 401(k) Plan in order to receive Matching Contributions under the 401(k) Plan.

 

(d)                                 New Eligible Employees.  Any individual who becomes an Eligible Employee during a Plan Year will be eligible (i) to defer Compensation with respect to the Plan Year commencing subsequent to the individual’s becoming an Eligible Employee by completing a Supplemental Plan Deferral Election Form prior to such subsequent Plan Year and (ii) to receive Supplemental Matching Credits for the Plan Year commencing subsequent to the individual’s becoming an Eligible Employee.

 

 

(e)                                  Ceasing to Be an Eligible Employee.  In the event a Participant should cease to be an Eligible Employee of the Company due to demotion or otherwise while remaining in the employ of the Company, such Participant’s Supplemental Plan Deferrals in effect for such Plan Year shall remain irrevocable and such Participant shall continue to receive Supplemental Matching Credits in accordance with Section 3 during the Plan Year in which the Participant ceases to be an Eligible Employee.  Such Participant shall no longer be eligible to defer Compensation or receive Supplemental Matching Contribution Credits after the end of the Plan Year in which the Participant’s status changes but shall be subject to the normal distribution rules set forth in Section 5.

 

3.               Credited Amounts

 

An Account shall be established for each Participant by the Company when he or she becomes a Participant in this Plan.  The Participant shall be 100% vested in the credits under the Plan as follows.  Credits shall be allocated under the Plan with respect to each Plan Year as follows:

 

(a)                                  Supplemental Plan Deferral Credit.  For each Plan Year, the Supplemental Plan Deferrals made by a Participant under this Plan shall be credited.

 

(b)                                 Supplemental Matching Credit.  For each Plan Year, 100% of the sum of the Participant’s elective deferrals made under the 401(k) Plan plus the Supplemental Plan Deferrals, less the amount of Matching Contributions made under the 401(k) Plan shall be credited as Supplemental Matching Credits; provided that if the sum of such Supplemental Matching Credits from this Plan and the Matching Contributions to the 401(k) Plan with respect to a Plan Year would exceed 4% of the Participant’s Matching Contribution Compensation for such Plan Year, the Supplemental Matching Credits shall be reduced by the amount necessary so that the Total Matching Contributions do not exceed 4% of the Participant’s Matching Contribution Compensation for such Plan Year.  Supplemental Matching Credits shall be credited only after the end of the Plan Year to which they relate, including for Eligible Employees who terminate in that Plan Year.

 

For record-keeping purposes only, records showing the balance of each Participant’s Account shall be maintained.

 

4.               Measuring Funds

 

(a)                                  Initial Elections.  A Participant shall elect one or more Measuring Funds for deemed investments in accordance with procedures established by the Administrator.  If the Participant makes no such election, the Participant shall be deemed to have elected the Default Measuring Fund as the Measuring Fund.

 

(b)                                 Change in Measuring Fund Election.  The portion of the Participant’s Account which is deemed to have been invested in a Measuring Fund pursuant to this Section 4 shall be deemed to remain so invested in accordance with procedures established by the Administrator.  The Participant shall be able to change Measuring Fund elections pursuant to procedures established by the Administrator.

 

(c)                                  Actual Investment in Measuring Funds Not Required.  Although the benefit payable to a Participant hereunder may be measured by the value of deemed investments designated by the Participant pursuant to this Section 4, the Company need not actually make any such investments.  In the event the Company, in its sole discretion, makes any such investment, such investment shall be solely for the Company’s own account and the Participant shall have no right, title or interest in any such investments.

 

5.               Distributions

 

(a)                                  Separation from Service of Participant who is a Key Employee.  The Account Balance of a Key Employee shall be paid on the last business day of the sixth month following the month in which the Key Employee has a Separation from Service.  However, the Administrator may make payment on any other day to the extent that such payment is treated as being paid on the date specified in the previous sentence under Treasury Regulations section 1.409A-3(d), which permits payments to be made later within the same calendar year, or if later, within 2-1/2 months following the specified date, provided that the Participant is not permitted to designate the taxable

 

 

year of payment.  For purposes of determining the amount payable to the Participant, the Participant’s Account will be valued as of the date the payment is processed.  We expect Participants will generally be Key Employees.

 

(b)                                 Separation from Service of Participant who is Not a Key Employee.  Upon the Separation from Service of a Participant who is not a Key Employee, his or her Account Balance shall be paid in a lump sum as of the last business day of the month following the month of the Participant’s Separation from Service.  However, the Administrator may make payment on any other day to the extent that such payment is treated as being paid on the date specified in the previous sentence under Treasury Regulations section 1.409A-3(d), which permits payments to be made within thirty days before the specified date and later within the same calendar year, or if later, within 2-1/2 months following the specified date, provided that the Participant is not permitted to designate the taxable year of payment.  For purposes of determining the amount payable to the Participant, the Participant’s Account will be valued as of the date the payment is processed.

 

(c)                                  Death.  In the event of a Participant’s death, his or her Account Balance shall be paid to his or her Beneficiary on the date that is 30 days after the date of the Participant’s death (or, if that date is not a business day, the first business day thereafter).  However, the Administrator may make payment on any other day to the extent that such payment is treated as being paid on the date specified in the previous sentence under Treasury Regulations section 1.409A-3(d), which permits payments to be made within thirty days before the specified date and later within the same calendar year, or if later, within 2-1/2 months following the specified date, provided that the Participant is not permitted to designate the taxable year of payment.  For purposes of determining the amount payable to the Beneficiary, the Participant’s Account will be valued as of the date the payment is processed.

 

(d)                                 Unforeseeable Emergency Distributions.  Upon the application of a Participant in the event of an Unforeseeable Emergency, the Administrator shall cause the distribution of that portion of the Participant’s Account Balance that does not exceed the amount necessary to satisfy such Unforeseeable Emergency plus amounts necessary to pay taxes reasonably anticipated as a result of the distribution, after taking into account the extent to which such hardship is or may be relieved through reimbursement or compensation by insurance or otherwise or by liquidation of the Participant’s assets (to the extent the liquidation of such assets would not itself cause severe financial hardship).  The Administrator shall require such proper proof of financial hardship and such evidence of the requirements of a Participant for extraordinary or emergency expenditures as it may deem appropriate, and the Administrator’s determination of financial hardship, whether an Unforeseeable Emergency exists and of the requirements of a Participant for extraordinary or emergency expenditures shall be conclusive.  Any payment made to a Participant pursuant to this Section shall be made reasonably promptly following the Administrator’s determination of the amount payable to the Participant.  Any request authorized pursuant to this Section will result in the cessation of all Supplemental Plan Deferrals and Supplemental Matching Credits that would otherwise be credited to the Participant under this Plan between the first day of the month following the month in which the request is approved and the last day of that Plan Year and with respect to any bonus related to such Plan Year.  In addition, such Participant who receives an Unforeseeable Emergency distribution is precluded from enrolling in the Plan for the entire Plan Year beginning January 1 after the request is made.  Because of the high standard set by Section 409A of the Code, the Administrator currently does not expect that any Participant will receive from the Plan an Unforeseeable Emergency distribution.

 

(e)                                  Supplemental Matching Credits Credited After Distribution Date.  Any Supplemental Matching Credits credited to a Participant’s Account after the payment date specified in the preceding provisions of this Section 5 because of a Separation from Service or death shall be distributed as soon as administratively practicable after such Supplemental Matching Credits are credited to the Participant’s Account but in no event later than the end of the Plan Year in which such Supplemental Matching Contributions are credited.

 

6.               Beneficiary Designation

 

Each Participant’s Beneficiary under the Plan shall be the person or persons designated as the Participant’s Beneficiary under the Plan, in the form and manner prescribed by the Administrator.  If no such Beneficiary 

 

 

designation is in effect under the Plan at the time of the Participant’s death, or if no designated Beneficiary under the Plan survives the Participant, the Participant’s Beneficiary shall be the person or persons determined to be the Participant’s beneficiary under the 401(k) Plan (including the default beneficiary rules under the 401(k) Plan, if no beneficiary is designated under that Plan).

 

7.               Administration and Interpretation

 

The Administrator has the sole authority to construe and administer the Plan and to establish, amend and rescind rules and regulations relating to the Plan and to take all such actions and make all such determinations in connection with the Plan as he may deem necessary or desirable.  The Administrator’s construction, administration and actions under the Plan are binding and conclusive on all persons for all purposes.  Except to the extent preempted by federal law, this Plan shall be construed, governed and enforced under the laws of the State of Delaware (without regard to the conflicts of law principles thereof) and any and all disputes arising under this Plan are to be resolved exclusively by courts sitting in Delaware.  If any provision of the Plan, or the application of any such provision to any person or circumstances, shall be invalid under any applicable law, neither the application of such provision to persons or circumstances other than those as to which such provision is invalid nor any other provisions of the Plan shall be affected thereby.

 

8.               Indemnification

 

To the fullest extent permitted by law, the Administrator, the Board (and each member thereof), and any employee of the Company to whom responsibilities have been delegated shall be indemnified by the Company against any claims, and the expenses of defending against such claims, resulting from any action or conduct relating to the administration of the Plan, except claims arising from gross negligence, willful neglect or willful misconduct.

 

9.               Claims Procedure

 

Any Participant or after a Participant’s death, any Beneficiary (either, “Claimant”) may file a claim for benefits under the Plan by submitting a written statement to the Administrator.  The statement should describe the nature of the claim and request a determination of its validity under the terms of the Plan.  Within ninety (90) days after the date the Administrator receives such claim, the Administrator will issue a ruling.  If special circumstances require an extension of time for processing, the Administrator will send the Claimant written notice of the extension prior to the termination of the 90-day period.  In no case, however, will the extension of time delay the Administrator’s decision beyond 180 days after the Administrator received the claim.  If the claim is denied in whole or in part, the Administrator will send the Claimant written notice.

 

The notice will be written in a manner calculated to be understood by the Claimant and contain:

 

(1)                                  The specific reason(s) for denial;

 

(2)                                  Specific reference to the pertinent Plan provisions on which the denial is based;

 

(3)                                  A description of any additional material or information necessary for the Claimant to perfect the claim and an explanation of why such material or information is necessary; and

 

(4)                                  An explanation of the Plan’s claims review procedures and the time limits applicable to such procedures, including a statement of the Participant’s right to bring a civil action under section 502(a) of ERISA following a denial of the claim upon appeal.

 

If a claim for benefits has been denied, a Claimant may appeal the denial by resubmitting a written statement to the Administrator.  The Claimant should request further review of the decision within sixty (60) days of the date the Claimant receives notice of a denial.  The Claimant’s written appeal should set forth the reasons supporting the claim, the reasons such claim should not have been denied, and any other issues or comments which the Claimant deems appropriate with respect to the claim.  If the Claimant so requests in writing, the Administrator will make copies of the Plan documents pertinent to the claim available to the Claimant for examination.

 

Within sixty (60) days after the appeal is received, the Administrator will notify the Claimant in writing of its final decision.  If special circumstances require an extension of time for processing, the Administrator will send the Claimant written notice of the extension prior to the termination of the 60-day period.  In no case, however, will the extension of time delay the Administrator’s decision on such appeal request beyond 120 days following receipt of the actual request.

 

 

The Administrator’s written notice of its decision on appeal will include specific reasons for the decision, written in a manner calculated to be understood by the Claimant, with specific references to the pertinent Plan provisions on which the decision is based, and a statement that the Participant is entitled to receive, upon request and free of charge, reasonable access to, and copies of, all documents, records, and other information relevant to the Participant’s claim for benefits.  Any suit for benefits must be brought within one year after the date the Administrator has made a final denial of a claim for benefits.  Notwithstanding any other provision of the Plan to the contrary, any suit for benefits must be brought within two years after, in the case of any lump-sum payment, the date on which the payment was made or for all other claims, the date on which the action complained of occurred.

 

10.         Amendment and Termination

 

The Plan may be amended or terminated at any time by the Compensation Committee of the Board of Directors or by a committee or person(s) to which the Compensation Committee of the Board delegates such authority, provided that no such amendment or termination shall reduce the Account Balance of any Participant under the Plan as of the date of such amendment or termination, and provided further that no such amendment or termination shall accelerate the payment of any amount except to the extent permitted by guidance issued under Section 409A(a)(3) of the Code.  The Administrator may amend the Plan to accommodate administrative changes, conform to law and to make any other changes deemed advisable which do not materially increase the cost to the Company without approval by the Compensation Committee of the Board.  If the Plan is terminated, the Board or Administrator shall provide for how amounts credited to Accounts will be distributed.

 

11.         Section 409A of the Code

 

The Plan is intended to meet the requirements of Section 409A of the Code and shall be interpreted and construed consistent with such intent.  If, in the good faith judgment of the Administrator, any provision of the Plan could otherwise cause any person to be subject to the interest and penalties imposed under Section 409A of the Code, such provision shall be modified by the Administrator in its sole discretion to maintain, to the maximum extent practicable, the original intent of the applicable provision without causing the interest and penalties under Section 409A of the Code to apply, and, notwithstanding any provision of this Plan to the contrary, the Administrator shall have broad authority to amend or to modify the Plan, without advance notice to or consent by any person, to the extent necessary or desirable to ensure that no benefit under the Plan is subject to tax under Section 409A of the Code.  Any determinations made by the Administrator under this Section shall be final, conclusive and binding on all persons.  Notwithstanding anything to the contrary in this Plan, in no event shall the Company, its officers, directors, employees, subsidiaries or affiliates be liable for any additional tax, interest or penalty incurred by a Participant or Beneficiary as a result of the Plan’s failure to satisfy the requirements of Section 409A of the Code or as a result of the Plan’s failure to satisfy any other applicable requirements for the deferral of tax.

 

12.         Unsecured General Creditor

 

Participants and their Beneficiaries, heirs, successors, and assigns shall have no legal or equitable rights, claims, or interest in any specific property or assets of the Company.  No assets of the Company shall be held in any way as collateral security for the fulfilling of the obligations of the Company under this Plan.  Any and all of the Company’s assets shall be, and remain, the general unpledged, unrestricted assets of the Company.  The Company’s obligation under the Plan shall be merely that of an unfunded and unsecured promise of the Company to pay money in the future, and the rights of the Participants and Beneficiaries shall be no greater than those of unsecured general creditors.  It is the intention of the Company that this Plan be unfunded for purposes of the Code and for purposes of Title 1 of ERISA.  Nothing contained in this Plan, and no actions taken pursuant to the provisions of this Plan shall create or be construed to create a trust or any kind of fiduciary relationship between the Company and any Participant, Beneficiary, or any other person.

 

13.         Restriction Against Assignment

 

The Company shall pay all amounts payable hereunder only to the person or persons designated by the Plan and not to any other person or corporation.  No part of a Participant’s Account or benefit shall be liable for the debts, contracts, or engagements of any Participant, his or her Beneficiary, or successors in interest, nor shall a Participant’s Account or benefit be subject to execution by levy, attachment, or garnishment or by any other legal or equitable proceeding, nor shall any such person have any right to alienate, anticipate, sell, transfer, commute, pledge, encumber, or assign any benefits or payments hereunder in any manner whatsoever.  If any Participant, Beneficiary or successor in interest is adjudicated bankrupt or purports to anticipate, alienate, sell, transfer, commute, assign, pledge, encumber or charge any distribution or payment from the Plan, voluntarily or

 

 

involuntarily, the Administrator, in its discretion, may cancel such distribution or payment (or any part thereof) to or for the benefit of such Participant, Beneficiary or successor in interest in such manner as the Administrator shall direct.

 

14.         No Right to Employment

 

Nothing contained in the Plan shall be construed as a contract of employment between the Company and a Participant or Eligible Employee, or as a right of any Participant or Eligible Employee to be continued in the employment of the Company, or as a limitation on the right of the Company to terminate the employment of any of its employees, with or without cause.

 

15.         Miscellaneous

 

(a)                                  Headings.  The headings and sub-headings in this Plan have been inserted for convenience only and should be ignored in construing its provisions.

 

(b)                                 Rules of Construction.  In the construction of the Plan, the singular shall include the plural, and the plural shall include the singular, and male and female pronouns shall be interchangeable in all cases where such meanings would be appropriate.  All capitalized words shall have the meanings set forth in the Appendix.

 

The Six Flags Entertainment Corporation Supplemental 401(k) Plan is hereby established effective with respect to the deferral of Compensation commencing with the payroll period including the Effective Date.

 

	
 
    	
Six   Flags Entertainment Corporation
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Walt Hawrylak
    
	
 
    	
 
    	
Walt   Hawrylak
    
	
 
    	
 
    	
Senior   Vice President, Administration
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
Date:
    	
6/28/12
    
				

 

 

DEFINITIONS

 

“401(k) Plan” means the Six Flags 401(k) Plan as in effect from time to time.

 

“Account” means the record-keeping book reserve account maintained pursuant to procedures established by the Administrator for a Participant under the Plan.

 

“Account Balance” means the value, as of a specified date, of the Account of a Participant.

 

“Administrator” means the Senior Vice President, Administration of the Company.

 

“Beneficiary” means a person who is designated by a Participant or by the terms of the Plan to receive a benefit under the Plan by reason of the Participant’s death.

 

“Board” is the Board of Directors of Six Flags Entertainment Corporation.

 

“Claimant” means any Participant who files a claim for benefits under this Plan.

 

“Code” means the Internal Revenue Code of 1986, as amended and regulations thereunder.

 

“Company” means Six Flags Entertainment Corporation or any subsidiary or affiliate thereof designated by the Administrator.

 

“Compensation” has the meaning ascribed to that term under the 401(k) Plan with the following additions and modifications:

 

(i)                                     Base salary and bonuses deferred under this Plan are included in compensation in the Plan Year in which such amounts would be paid if they were not deferred, and not in the Plan Year in which such amounts are actually paid; and

 

(ii)                                  Compensation is determined without regard to the limitations under Section 401(a)(17) of the Code.

 

Except for purposes of determining Supplemental Matching Credits for 2012, Compensation for this Plan does not include Compensation received prior to becoming a Participant in this Plan and does not include Compensation prior to the first pay period including the Effective Date.

 

For purposes of clarification, bonuses made in Company stock and income recognized from the exercise of such stock options and income attributable to fringe benefits, welfare benefits, reimbursements and moving expenses are not treated as “Compensation” for purposes of this Plan.

 

“Default Measuring Fund” means the Measuring Fund designated as the Default Measuring Fund for this Plan by the Administrator.

 

“Effective Date” means July 1, 2012.

 

“Eligible Employee” means each employee of the Company (or subset of employees of the Company designated by the Administrator) employed in the United States with any of the following titles:  Chief Executive Officer, Chief Financial Officer, Chief Operating Officer, President, Park President, Executive Vice President, Senior Vice President, Vice President, General Counsel or Assistant General Counsel.

 

“Key Employee” shall mean a “specified employee” within the meaning of Section 409A of the Code and as determined by the Company.

 

“Matching Contribution Compensation” means Compensation paid on or after the Participant is eligible for Matching Contributions.

 

“Matching Contributions” are Company matching contributions to the 401(k) Plan.

 

 

“Measuring Fund” means the investment funds established from time to time under the 401(k) Plan or such other investment funds designated by the Administrator.

 

“Participant” means a person on whose behalf an Account is maintained under the Plan.

 

“Plan Year” means the calendar year.

 

“Separation from Service” means a separation from service as described in Section 409A(a)(2)(A)(i) of the Code.

 

“Supplemental Matching Credits” has the meaning ascribed to that term in Section 3(b) of this Plan.

 

“Supplemental Plan Deferral Election Form” is the form (printed or electronic) mandated in accordance with procedures established by the Administrator for the purpose of deferring Compensation pursuant to this Plan.

 

“Supplemental Plan Deferrals” means Compensation deferred pursuant to this Plan in accordance with a Supplemental Plan Deferral Election Form.

 

“Total Matching Contributions” means the sum of the Matching Contributions under the 401(k) Plan and the Supplemental Matching Credits under this Plan, not to exceed 4% of a Participant’s Matching Contribution Compensation in accordance with Section 3(b) of this Plan.

 

“Unforeseeable Emergency” means a severe financial hardship to the Participant resulting from an illness or accident of the Participant, the Participant’s spouse, or a dependent (as defined in Section 152(a) of the Code) of a Participant, loss of the Participant’s property due to casualty, or other similar extraordinary and unforeseeable circumstances arising as a result of events beyond the control of the Participant, as described in Section 409A(a)(2)(B)(ii) of the Code.Exhibit 10.1

 

THIRD AMENDMENT TO
 FIFTH AMENDED AND RESTATED CREDIT AGREEMENT

 

This Third Amendment to Fifth Amended and Restated Credit Agreement (this “Third Amendment”) is entered into as of the 25th day of July, 2012 (the “Effective Date”), by and among GEOMET, INC., a Delaware corporation (“Borrower”), BANK OF AMERICA, N.A., as Administrative Agent (“Administrative Agent”), and the Banks party hereto.

 

W I T N E S S E T H:

 

WHEREAS, Borrower, Administrative Agent, the financial institutions party thereto as Banks, and the other agents party thereto are parties to that certain Fifth Amended and Restated Credit Agreement dated as of October 14, 2011 (as amended, the “Credit Agreement”) (unless otherwise defined herein, all terms used herein with their initial letter capitalized shall have the meaning given such terms in the Credit Agreement); and

 

WHEREAS, pursuant to the Credit Agreement, Banks have made a revolving credit loan to Borrower and provided certain other credit accommodations to Borrower; and

 

WHEREAS, Borrower has requested that the Banks amend Section 4.5 of the Credit Agreement to extend the period in which Borrower is required to deliver an Election Notice; and

 

WHEREAS, the Administrative Agent and the Banks are willing to amend the Credit Agreement as set forth herein on the terms and conditions set forth herein.

 

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, Borrower, Administrative Agent and the Banks party hereto hereby agree as follows:

 

Section 1.               Amendments.  In reliance on the representations, warranties, covenants and agreements contained in this Third Amendment, and subject to the satisfaction of each condition precedent set forth in Section 2, the Credit Agreement shall be amended effective as of the Effective Date in the manner provided in this Section 1.

 

1.1           Additional Definitions.  Section 1.1 of the Credit Agreement is hereby amended to add thereto in alphabetical order the definitions of Security Agreement and Third Amendment and amend the definition of Loan Papers, each to read in full as follows:

 

“Security Agreement” means that certain Pledge and Security Agreement dated as of June 22, 2012, among Borrower, Guarantors and Administrative Agent.

 

“Third Amendment” means that certain Third Amendment to Fifth Amended and Restated Credit Agreement dated as of July 25, 2012, among Borrower, Administrative Agent and the Banks party thereto.

 

 

“Loan Papers” means this Agreement, the First Amendment, the Second Amendment, the Third Amendment, the Notes, each Facility Guaranty now or hereafter executed, the Mortgages, each Borrower Pledge Agreement now or hereafter executed, each Subsidiary Pledge Agreement now or hereafter executed, the Security Agreement, all other security agreements, deposit account control agreements, and other collateral documents, now or hereafter executed by any Credit Party to secure payment of the Obligations or any part thereof, the Certificate of Effectiveness, the Letters of Credit and all other certificates, documents or instruments delivered in connection with this Agreement, as the foregoing may be amended from time to time.

 

1.2           Amendment to Section 4.5 of the Credit Agreement.  Section 4.5 of the Credit Agreement is hereby amended by deleting the phrase “July 31, 2012” contained therein and replacing it with “August 8, 2012”.

 

Section 2.               Conditions Precedent to Third Amendment.  This Third Amendment shall be effective as of the Effective Date when the following conditions precedent have been satisfied:

 

2.1           Counterparts.  Administrative Agent shall have received counterparts of this Third Amendment executed on behalf of Borrower, Administrative Agent and each Bank.

 

2.2           Other Information.  Administrative Agent shall have received such other information and documents as may be reasonably required by Administrative Agent and its counsel.

 

Section 3.               Representations and Warranties of Borrower.  To induce the Banks and Administrative Agent to enter into this Third Amendment, Borrower hereby represents and warrants to Banks and Administrative Agent as follows:

 

3.1           Reaffirm Existing Representations and Warranties.  Each representation and warranty of Borrower contained in the Credit Agreement and the other Loan Papers is true and correct on the date hereof and will be true and correct after giving effect to the amendments set forth in Section 1 hereof.

 

3.2           Due Authorization; No Conflict.  The execution, delivery and performance by Borrower of this Third Amendment are within Borrower’s corporate powers, have been duly authorized by all necessary action, require no action by or in respect of, or filing with, any governmental body, agency or official and do not violate or constitute a default under any provision of applicable law or any Material Agreement binding upon Borrower or any other Credit Party, or result in the creation or imposition of any Lien upon any of the assets of Borrower or any other Credit Party except Permitted Encumbrances.

 

3.3           Validity and Enforceability.  This Third Amendment constitutes the valid and binding obligation of Borrower enforceable in accordance with its terms, except as (a) the enforceability thereof may be limited by bankruptcy, insolvency or similar laws affecting

 

2

 

creditor’s rights generally, and (b) the availability of equitable remedies may be limited by equitable principles of general application.

 

3.4           No Default.  No Default or Event of Default shall have occurred which is continuing.

 

Section 4.               Miscellaneous.

 

4.1           Reaffirmation of Loan Papers.  Any and all of the terms and provisions of the Credit Agreement and the Loan Papers shall, except as amended and modified hereby, remain in full force and effect.  The amendments contemplated hereby shall not limit or impair any Liens securing the Obligations, each of which are hereby ratified, affirmed and extended to secure the Obligations as they may be increased pursuant hereto.

 

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

 

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

 

4.4           Counterparts.  This Third Amendment may be executed in counterparts, and all parties need not execute the same counterpart; however, no party shall be bound by this Third Amendment until Borrower and each Bank have executed a counterpart.  Facsimiles or other electronic transmissions (e.g., pdf) shall be effective as originals.

 

4.5           Complete Agreement.  THIS THIRD AMENDMENT, THE CREDIT AGREEMENT AND THE OTHER LOAN PAPERS 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 OR AMONG THE PARTIES.

 

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

 

4.7           Governing Law.  This Third Amendment shall be governed by, and construed in accordance with, the laws of the State of New York, other than conflict of laws rules thereof.

 

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

 

[Signature Pages to Follow]

 

3

 

	
 
    	
BORROWER:
    
	
 
    	
 
    
	
 
    	
GEOMET, INC.,
    
	
 
    	
a Delaware corporation
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Tony Oviedo
    
	
 
    	
Name:
    	
Tony   Oviedo
    
	
 
    	
Title:
    	
Senior   Vice President
    

 

[Signature Page]

THIRD AMENDMENT TO FIFTH AMENDED AND RESTATED CREDIT AGREEMENT

GEOMET, INC.

 

 

	
 
    	
ADMINISTRATIVE   AGENT/BANK:
    
	
 
    	
 
    
	
 
    	
BANK OF AMERICA, N.A.,
    
	
 
    	
as Administrative Agent
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   John W. Woodiel III
    
	
 
    	
 
    	
John   W. Woodiel III
    
	
 
    	
 
    	
Managing   Director
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
BANK OF AMERICA, N.A.,
    
	
 
    	
as a Bank
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   John W. Woodiel III
    
	
 
    	
 
    	
John   W. Woodiel III
    
	
 
    	
 
    	
Managing   Director
    

 

[Signature Page]

THIRD AMENDMENT TO FIFTH AMENDED AND RESTATED CREDIT AGREEMENT

GEOMET, INC.

 

 

	
 
    	
BANKS:
    
	
 
    	
 
    
	
 
    	
WELLS   FARGO BANK, N.A.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Richard Hawthorne
    
	
 
    	
Name:
    	
Richard   Hawthorne
    
	
 
    	
Title:
    	
Director
    

 

[Signature Page]

THIRD AMENDMENT TO FIFTH AMENDED AND RESTATED CREDIT AGREEMENT

GEOMET, INC.

 

 

	
 
    	
BANK   OF SCOTLAND
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Stephen Giacolone
    
	
 
    	
Name:
    	
Stephen   Giacolone
    
	
 
    	
Title:
    	
Assistant   Vice President — G011
    

 

[Signature Page]

THIRD AMENDMENT TO FIFTH AMENDED AND RESTATED CREDIT AGREEMENT

GEOMET, INC.

 

 

	
 
    	
U.S.   BANK NATIONAL ASSOCIATION
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   William J. Umscheid
    
	
 
    	
Name:
    	
William   J. Umscheid
    
	
 
    	
Title:
    	
Vice   President
    

 

[Signature Page]

THIRD AMENDMENT TO FIFTH AMENDED AND RESTATED CREDIT AGREEMENT

GEOMET, INC.

 

 

	
 
    	
COMERICA   BANK
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Brenton Bellamy
    
	
 
    	
Name:
    	
Brenton   Bellamy
    
	
 
    	
Title:
    	
Assistant   Vice President
    

 

[Signature Page]

THIRD AMENDMENT TO FIFTH AMENDED AND RESTATED CREDIT AGREEMENT

GEOMET, INC.

 

 

	
 
    	
CAPITAL   ONE, NATIONAL ASSOCIATION
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Michael Higgins
    
	
 
    	
Name:
    	
Michael   Higgins
    
	
 
    	
Title:
    	
Vice   President
    

 

[Signature Page]

THIRD AMENDMENT TO FIFTH AMENDED AND RESTATED CREDIT AGREEMENT

GEOMET, INC.

 

 

The undersigned (i) consents and agrees to this Third Amendment, and (ii) agrees that the Loan Papers to which it is a party (including, without limitation, the Amended and Restated Facility Guaranty dated as of November 18, 2011, the Pledge and Security Agreement dated as of June 22, 2012, and Mortgages to which each of the undersigned is a party) shall remain in full force and effect and shall continue to be the legal, valid and binding obligation of the undersigned, enforceable against it in accordance with its terms.

 

	
 
    	
CONSENTED, ACKNOWLEDGED AND AGREED TO BY:
    
	
 
    	
 
    
	
 
    	
GEOMET GATHERING COMPANY, LLC,
    
	
 
    	
an Alabama limited liability company
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   William C. Rankin
    
	
 
    	
Name:
    	
William   C. Rankin
    
	
 
    	
Title:
    	
Manager
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
GEOMET OPERATING COMPANY, INC.,
    
	
 
    	
an Alabama corporation
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   William C. Rankin
    
	
 
    	
Name:
    	
William   C. Rankin
    
	
 
    	
Title:
    	
Executive   Vice President
    

 

[Signature Page]

THIRD AMENDMENT TO FIFTH AMENDED AND RESTATED CREDIT AGREEMENT

GEOMET, INC.

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