Document:

Exhibit

Exhibit 10.6
Execution Version

AMENDMENT NO. 1 TO CREDIT AGREEMENT
ACTIVE 238035260v.6

THIS AMENDMENT NO. 1 TO CREDIT AGREEMENT (this “Amendment”) is made as of December 18, 2018, by and among ARCOSA, INC., a Delaware corporation (the “Borrower”), the lenders listed on the signature pages hereof (the “Lenders”), and JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, as Administrative Agent (in such capacity, the “Administrative Agent”), under that certain Credit Agreement, dated as of November 1, 2018, by and among the Borrower, the lenders from time to time party thereto and the Administrative Agent (as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”).  Capitalized terms used but not otherwise defined herein shall have the meaning given to them in the Credit Agreement.
WITNESSETH
WHEREAS, the Borrower, the Lenders and the Administrative Agent are parties to the Credit Agreement;
WHEREAS, the Borrower has requested that the Administrative Agent and the Lenders amend the Credit Agreement on the terms and conditions set forth herein; and
WHEREAS, the Borrower, the Administrative Agent and the requisite number of Lenders have agreed to amend the Credit 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 parties hereto have agreed to the following:
Section 1.Amendments to the Credit Agreement.  Subject to the satisfaction of the conditions precedent set forth in Section 2 below, on the Amendment Effective Date (as defined below), the Credit Agreement is hereby amended as follows:
(a)    The definition of “Permitted Encumbrances” is hereby amended to delete clause (k) thereof and replace such clause with the following:
“(k)    Liens arising from precautionary Uniform Commercial Code financing statement or similar filings made in respect of (i) operating leases entered into by the Borrower or any Subsidiary and (ii) Dispositions permitted under Section 6.04(l), provided that such Liens are only with respect to the accounts receivable and proceeds thereof that are the subject of such Disposition;”
(b)    Section 6.04(j) of the Credit Agreement is hereby amended by deleting the word “and” appearing at the end thereof;
(c)    Section 6.04(k) of the Credit Agreement is hereby amended by (i) deleting the period appearing therein and (ii) inserting the phrase “; and” in lieu thereof;

1

(d)    Section 6.04 of the Credit Agreement is hereby further amended by inserting a new clause (l) as follows: 
“(l) the sale on a non-recourse basis by the Borrower and its Subsidiaries in the ordinary course of business of accounts receivable owing from an account debtor pursuant to a supply chain or similar finance program established by such account debtor with a third party provider.”

Section 2.Amendment Effective Date; Conditions Precedent.  This Amendment shall become effective on the date on which the following conditions have been satisfied or waived (the “Amendment Effective Date”):
(a)    the Administrative Agent shall have received a counterpart of this Amendment executed by the Borrower, the Administrative Agent and each of the Required Lenders;
(b)    the representations and warranties contained in Section 3 hereof shall be true and correct; and
(c)    the Administrative Agent shall have received such other documents, instruments and agreements as the Administrative Agent shall reasonably request.
Section 3.Representations and Warranties and Reaffirmations of the Borrower.
(a)    The Borrower hereby represents and warrants that (i) this Amendment and the Credit Agreement as previously executed and as modified hereby constitute legal, valid and binding obligations of the Borrower and are enforceable against the Borrower in accordance with their terms (except as enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the enforcement of creditors’ rights generally), and (ii) at the time of and immediately after giving effect to this Amendment on the Amendment Effective Date, no Default or Event of Default has occurred and is continuing.
(b)    The Borrower hereby represents and warrants that the representations and warranties of the Borrower set forth in the Loan Documents are true and correct in all material respects (without duplication of any materiality qualifiers set forth therein) on and as of the Amendment Effective Date, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct in all material respects (or, in the case of any representation or warranty already qualified by materially, in any respect) as of such earlier date, and except that the representations and warranties contained in Sections 3.04(a)(i) and (a)(ii) of the Credit Agreement shall be deemed to refer to the most recent statements furnished pursuant to Sections 5.01(a) and (b) of the Credit Agreement, respectively.
(c)    Upon the effectiveness of this Amendment and after giving effect hereto, the Borrower hereby reaffirms all covenants, representations and warranties made in the Credit Agreement as modified hereby, and agrees that all such covenants, representations and warranties shall be deemed to have been remade as of the Amendment Effective Date, except that any such 

2

covenant, representation, or warranty that was made as of a specific date shall be considered reaffirmed only as of such date.
Section 4.Reference to the Effect on the Credit Agreement.
(a)    Upon the effectiveness of Section 1 hereof, on and after the date hereof, each reference in the Credit Agreement (including any reference therein to “this Credit Agreement,” “this Agreement,” “hereunder,” “hereof,” “herein” or words of like import referring thereto) or in any other Loan Document shall mean and be a reference to the Credit Agreement as modified hereby.
(b)    Except as specifically modified above, the Credit 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 not operate as a waiver of any right, power or remedy of the Administrative Agent or the Lenders, nor constitute a waiver of any provision of the Credit Agreement or any other documents, instruments and agreements executed and/or delivered in connection therewith.
(d)    Upon satisfaction of the conditions set forth in Section 2 hereof and the execution hereof by the Borrower, the Lenders and the Administrative Agent, this Amendment shall be binding upon all parties to the Credit Agreement.
(e)    This Amendment shall constitute a Loan Document.
Section 5.GOVERNING LAW.  THIS AMENDMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.
Section 6.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.
Section 7.Counterparts.  This Amendment may be executed in counterparts (and by different parties hereto on different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract.  Delivery of an executed counterpart of a signature page of this Amendment by telecopy, e-mailed .pdf or any other electronic means that reproduces an image of the actual executed signature page shall be effective as delivery of a manually executed counterpart of this Amendment.

[SIGNATURE PAGES FOLLOW]

3

IN WITNESS WHEREOF, this Amendment has been duly executed as of the day and year first above written.
ARCOSA, INC., 
as the Borrower
By    /s/ Gail Peck___________________________ 
Name:  Gail Peck 
Title:  SVP, Finance & Treasurer

Signature Page to Amendment No. 1 to Credit Agreement
Arcosa, Inc.

JPMORGAN CHASE BANK, N.A., individually as a Lender, as the Swingline Lender, as an Issuing Bank and as Administrative Agent
By: /s/ Gregory T. Martin     
Name:  Gregory T. Martin 
Title:  Executive Director

Signature Page to Amendment No. 1 to Credit Agreement
Arcosa, Inc.

BANK OF AMERICA, N.A.,
as a Lender, as an Issuing Bank and as Syndication Agent
By: /s/ Allison W. Connally    
Name: Allison W. Connally     
Title: Senior Vice President    

Signature Page to Amendment No. 1 to Credit Agreement
Arcosa, Inc.

BRANCH BANKING & TRUST COMPANY,
as a Lender and as Co-Documentation Agent
By: /s/ Allen King    
Name: Allen King     
Title: Senior Vice President    

Signature Page to Amendment No. 1 to Credit Agreement
Arcosa, Inc.

SUNTRUST BANK, 
as a Lender and as Co-Documentation Agent
By: /s/ Justin Lien     
Name: Justin Lien    
Title: Director    

Signature Page to Amendment No. 1 to Credit Agreement
Arcosa, Inc.

WELLS FARGO BANK, NATIONAL ASSOCIATION, 
as a Lender and as Co-Documentation Agent
By: /s/ Ben Wright     
Name: Ben Wright     
Title: Managing Director    

Signature Page to Amendment No. 1 to Credit Agreement
Arcosa, Inc.

AMEGY BANK NATIONAL ASSOCIATION, 
as a Lender
By: /s/ Kathy V. Magee    
Name: Kathy V. Magee     
Title: Senior Vice President    

Signature Page to Amendment No. 1 to Credit Agreement
Arcosa, Inc.

BOKF, NA DBA BANK OF TEXAS,
as a Lender 
By: /s/ Mike Meredith     
Name: Mike Meredith     
Title: SVP    

Signature Page to Amendment No. 1 to Credit Agreement
Arcosa, Inc.Exhibit

Exhibit 10.11

ARCOSA, INC.

NON-EMPLOYEE DIRECTOR 
RESTRICTED STOCK GRANT AGREEMENT

THIS NON-EMPLOYEE DIRECTOR RESTRICTED STOCK GRANT AGREEMENT (the “Agreement”), by and between ARCOSA, INC. (hereinafter called, the “Company”) and ________ (hereinafter called, the “Director”), is made as of ______ (the “Date of Grant”);

WITNESSETH:

WHEREAS, the Company has established the Arcosa, Inc. 2018 Stock Option and Incentive Plan (“Plan”), and which Plan is made a part hereof; and

WHEREAS, the Board of Directors of the Company (the “Board”) has determined that the Director be granted an award of Restricted Stock subject to the term of the Plan and the terms stated below, as hereinafter set forth;
    
NOW, THEREFORE, in consideration of the premises and the covenants and agreements herein contained, the parties hereto agree as follows:

		
	1.
	Grant of Restricted Shares.

Subject to the terms and conditions of the Plan, this Agreement and the restrictions set forth below, the Company hereby grants to the Director (this “Restricted Stock Grant”) _______  Shares of the Company (the “Restricted Shares”).  The Restricted Shares may be issued in certificated or book-entry form as the Company may determine.

		
	2.
	Restrictions; Vesting Schedule; Forfeiture.

The Restricted Shares may not be sold, assigned, transferred, pledged or otherwise disposed of or encumbered (the “Restrictions on Transferability”) until the Restrictions on Transferability shall lapse.  The Restrictions on Transferability shall lapse upon the first to occur of the following: the Restrictions on Transferability shall lapse on the first anniversary of the Date of Grant, or if earlier (i) upon death of the Director, (ii) upon the termination of the Director’s service for Disability (as defined in the Plan), or (iii) with the consent of the Board, in its sole discretion.  Subject to Section 18 of the Plan, upon a Change in Control (as defined in the Plan), the Restrictions on Transferability with respect to the Restricted Shares shall not lapse, but rather shall continue until they lapse in accordance with the schedule set forth above.  

Any unvested Restricted Shares shall be forfeited by the Director to the Company if prior to the lapse of the Restrictions on Transferability, the Director ceases to be a director of the Company 

Exhibit 10.11

(or otherwise terminates service) with the Company for any reason, which termination shall be evidenced by written notice from the Company or from the Director.  Upon forfeiture, the Company shall have all right, title and interest in the Restricted Shares and the Director shall have no further right, title or interest therein.  Until the Restrictions on Transferability shall lapse, any certificates representing the Restricted Shares shall bear a legend giving notice of such restrictions as follows:

THE SHARES REPRESENTED BY THIS CERTIFICATE ARE RESTRICTED PURSUANT TO A NON-EMPLOYEE DIRECTOR RESTRICTED STOCK GRANT AGREEMENT DATED AS OF ______________ AND MAY NOT BE SOLD, ASSIGNED, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED OF OR ENCUMBERED AT ANYTIME WITHOUT THE PRIOR WRITTEN APPROVAL OF THE COMPANY.

Upon the lapse of the Restrictions on Transferability with respect to any of the Restricted Shares, such shares without the restrictive legend noted above shall be delivered to the Director or the Director’s personal representative.  

		
	3.
	Stockholder Status.

Effective upon satisfaction of the conditions set forth in Section 12, the Director will become the holder of record of the Restricted Shares and have all rights of a stockholder with respect to the Restricted Shares, including the right to vote the Restricted Shares and the right to receive all dividends earned with respect to the Restricted Shares, subject to the terms and conditions set forth in this Agreement.  With respect to any dividends declared with respect to the Restricted Shares, such dividends shall be accrued by the Company for the Director’s account, and shall be distributed to the Director in cash or, in the sole discretion of the Board, in Shares having a Fair Market Value equal to the amount of such dividends, if applicable, upon the lapse of the Restrictions on Transferability (as defined below) with respect to the applicable Restricted Shares to which such dividends are attributable.  No dividends shall be accrued or paid with respect to Restricted Shares that are forfeited in accordance with Section 2 above, and any right to such dividends shall be forfeited at the time the underlying Restricted Shares are forfeited.   

		
	4.
	Subject to Plan.

The Restricted Shares are granted subject to the terms and provisions of the Plan of the Company, which Plan is incorporated herein by reference.  In case of any conflict between this Agreement and the Plan, the terms and provisions of the Plan shall be controlling.  Capitalized terms used herein, if not defined herein, shall be as defined in the Plan.

		
	5.
	Tax Requirements; Tax Election.

The Director shall be liable for any and all taxes, arising out of this Restricted Stock Grant, the vesting of the Restricted Shares or otherwise hereunder.  The Director is hereby advised to consult immediately with his own tax advisor regarding the tax consequences of this Agreement, the method 

2

Exhibit 10.11

and timing for filing an election to include this Agreement in income under Section 83(b) of the Code, and the tax consequences of such election.  By execution of this Agreement, the Director agrees that if the Director makes such an election, the Director shall provide the Company with written notice of such election in accordance with the regulations promulgated under Section 83(b) of the Code.

		
	6.
	No Rights of Continued Service.

Neither the Plan nor this Agreement nor any provisions under either shall be construed to confer upon the Director any right to remain a director of the Company, and nothing herein shall be construed in any manner to interfere in any way with the right of the Company to terminate the Director’s service at any time.

		
	7.
	Adjustment of Number of Restricted Shares.

The number of Restricted Shares awarded pursuant to this Agreement shall be subject to adjustment in accordance with Section 20 of the Plan.

		
	8.
	Entire Agreement.

This Agreement together with the Plan supersede any and all other prior understandings, negotiations and agreements, either oral or in writing, between the parties with respect to the subject matter hereof and constitute the sole and only agreements between the parties with respect to the said subject matter.  The Director acknowledges that the Director is relying solely on the Director’s own judgment in entering into this Agreement, and not on any communications, promises, or representations of the Company or its agent, except as expressly contained in this Agreement.  The Committee may amend this Agreement without the Director’s consent provided that it concludes that such amendment is not materially adverse to the Director, or is permitted under Section 20 of the Plan.  Except as provided by the immediately preceding sentence, no change or modification of this Agreement shall be valid or binding upon the parties unless the change or modification is in writing and signed by the parties.  

		
	9.
	Interpretation of this Agreement.

The administration of the Plan has been vested in the Human Resources Committee (the “Committee”), and all questions of interpretation and application of this Restricted Stock Grant shall be subject to determination by a majority of the members of the Committee, which determination shall be final and binding on the Director.  

		
	10.
	Law Governing.

This Agreement shall be governed by, construed, and enforced in accordance with the laws of the State of Texas (excluding any conflict of laws rule or principle of Texas law that might refer the governance, construction, or interpretation of this Agreement to the laws of another state).

3

Exhibit 10.11

		
	11.
	Notice.

Any notice required or permitted to be delivered hereunder shall be in writing and shall be deemed to be delivered only when actually received by the Company or the Director, as the case may be, at the addresses set forth below (or at such other addresses as they have theretofore specified by written notice delivered in accordance herewith):

		
	(i)
	Notice to the Company shall be sent electronically to _____ or in hard copy addressed and delivered as follows: Arcosa, Inc., ________, Attention: Corporate Benefits Department.

		
	(ii)
	Notice to the Director shall be sent electronically to the Director’s Company e-mail address or, in hard copy addressed and delivered to the Director’s address then on file with the Company.

		
	12.
	Acceptance and Stock Power.

This Restricted Stock Grant is subject to and conditioned upon: (i) the Director’s electronic acceptance of the terms hereof, and (ii) the delivery of an electronically executed stock power in the form attached as Exhibit A.

* * * * * * * *

4

Exhibit 10.11

IN WITNESS WHEREOF, the Company has caused this Agreement to be executed by its duly authorized officer, and the Director, to evidence his or her consent and approval of all the terms hereof, has duly executed this Agreement, as of the Date of Grant.

ARCOSA, INC.

By:                            
Name:                          
Title:                            

GRANTEE

                                                    
Name: 

Signature Page to
Non-Employee Director Restricted Stock Grant Agreement

Exhibit 10.11

Exhibit A

IRREVOCABLE STOCK POWER

FOR VALUE RECEIVED, the undersigned does hereby sell, assign and transfer, to Arcosa, Inc., _______________ (      ) shares of the common stock of Arcosa, Inc. awarded to the undersigned and for which restrictions have not lapsed pursuant to a Non-Employee Director Restricted Stock Grant Agreement dated as of _________ for _______ shares standing in the name of the undersigned on the books of said Company.

___________________________        _______________________________________
		
	DATE
	NAME: 

Exhibit A to
Non-Employee Director Restricted Stock Grant Agreement

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00292-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00292-of-00352.parquet"}]]