Document:

Letter Agreement

 Exhibit 10.1 

 

 

 P.O. BOX 181000, COLUMBUS, OHIO 43218 TEL 614.474.4001 

July 16, 2010 

Ms. Mylle H. Mangum 
 Chief Executive
Officer 
 IBT Enterprises, LLC 
 1770
Indian Trail, Suite 300 
 Norcross, Georgia 30093 

Dear Mylle: 
 On behalf of
Express, Inc. (the “Company”), I am extremely pleased to invite you to become a member of the Company’s Board of Directors (the “Board”) and a member of each of the Audit Committee and Compensation and Governance Committee
of the Board. You will be designated a Class II director with an initial term expiring in 2012. We believe that your skills, expertise and knowledge will prove very helpful to the Company and its stockholders. 

In connection with your service as a director, you will be eligible for equity grants under the Express, Inc. 2010 Incentive Compensation
Plan (the “2010 Plan”). Upon your appointment to the Board, you will be entitled to receive a grant of 10,000 stock options under the terms of the 2010 Plan. One quarter of the stock options will vest on each of the first, second, third
and fourth anniversaries of the date of grant, provided that you continue to serve on the Board from the date of grant through the applicable vesting date. 

In addition to equity compensation, you will be entitled to receive cash compensation of (1) an Annual Retainer of $100,000 for your
service as a director, (2) an Audit Committee Annual Retainer of $10,000 and (3) a Compensation and Governance Committee Annual Retainer of $10,000. Cash retainers will be paid to you quarterly in advance for the periods in which you serve
as a director or committee member, as applicable. You will be reimbursed for reasonable out-of-pocket expenses incurred by you in connection with your services to the Company in accordance with the Company’s established policies. In addition,
you will be covered by the Company’s D&O insurance and given an opportunity to execute the Company’s standard director indemnification agreement. 

Our expectation is that the Board will meet at least quarterly. The committees of the Board will also meet on a schedule to be
determined. It is our expectation that you will participate in those meetings in person to the extent possible. We also ask that you make yourself available to participate in various telephonic meetings from time to time. 

 Ms. Mylle H. Mangum 

July 16, 2010 
  Page
 2
 
  

Your services on the Board will be in accordance with, and subject to, the Company’s Bylaws and the Certificate of Incorporation, as
such may be amended from time to time. In accepting this offer, you are representing to us that (1) you do not know of any conflict that would restrict you from becoming a director of the Company and (2) you will not provide the Company
with any documents, records or other confidential information belonging to any other parties. 
 To accept this offer, please
sign below and return the fully executed letter to us. You should keep one copy of this letter for your own records. This letter sets forth the terms of your service with the Company and supersedes any prior representations or agreements, whether
written or oral. This letter may not be modified or amended except by a written agreement, signed by a duly authorized representative of the Company and by you. 

We are looking forward to having you join us at the Company. We believe that your enthusiasm and past experience will be an asset to the
Company and that you will have a positive impact on the organization. If you have any questions, please call me at (415) 983-2707. 
  

	
	Sincerely,
	
	 Express, Inc.

	
	 /s/ Stefan L. Kaluzny

	Stefan L. Kaluzny
	Chairman of the Board

  

	
	Accepted and agreed to this
	  23rd   day of July, 2010
	
	 /s/ Mylle H. Mangum

	Mylle H. Mangum

  

 2First Amendment to Second Amended and Restated Credit Agreement

 EXHIBIT 10.1 

FIRST AMENDMENT TO SECOND AMENDED 

AND RESTATED CREDIT AGREEMENT 

This First Amendment to Second Amended and Restated Credit Agreement (as the same may from time to time be amended,
restated, modified or otherwise supplemented, this “First Amendment”) is dated this
18th day of June, 2010 by and among Green Plains Grain
Company LLC, a Delaware limited liability company (“IA Borrower”), Green Plains Grain Company TN LLC, a Delaware limited liability company (“TN Borrower”, together with IA Borrower and their successors and assigns,
each a “Borrower” and collectively, the “Borrowers”), and First National Bank of Omaha, a national banking association (together with its successors and assigns, the “Lender”). Capitalized terms
used herein and not otherwise defined have the meanings ascribed to them in the Credit Agreement (as defined below). 

RECITALS 

WHEREAS, Borrowers and Lender entered into that certain Second Amended and Restated Credit Agreement dated April 19, 2010 (as the
same may from time to time be amended, restated, modified or otherwise supplemented, the “Credit Agreement”), pursuant to which Lender agreed to make loans to Borrowers; and 

WHEREAS, Borrowers and Lender desire to amend and modify certain terms and conditions of the Credit Agreement. 

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto
agree as follows: 
 AGREEMENT 

1. Section 2.1 of the Credit Agreement is hereby amended by deleting paragraph (d) in its entirety and substituting the
following paragraph (d) in its place: 
  

	 	(d)	The term of the Revolving Credit Facility shall expire on August 1, 2011 (with respect to the Base Facility) and April 1, 2011 (with respect to the Seasonal
Facility). All Revolving Credit Loans under the Revolving Credit Facility shall be repaid on or before the earlier of (i) August 1, 2011 (with respect to the Base Facility) or April 1, 2011 (with respect to the Seasonal Facility), as
applicable, (ii) termination of the Revolving Credit Facility and (iii) termination of this Agreement (the earliest of such dates, the “Revolving Credit Maturity Date”). After the Revolving Credit Maturity Date, no further
Advances under the Revolving Credit Facility shall be available from Lender. The term of the Term Loan Facility shall expire on August 1, 2013. Any Term Loan under the Term Loan Facility shall be repaid on or before the earlier of
(i) August 1, 2013, (ii) termination of the Term Loan Facility and (iii) termination of this Agreement (the earliest of such dates, the “Term Loan Maturity Date”). 

2. In connection with the execution of this First Amendment, and as a condition precedent hereto, Borrowers shall execute and deliver to
Lender the following on the date hereof: 
  

	 	(a)	 A First Amendment to Second Amended and Restated Term Loan Note dated June 18, 2010 from Borrowers to Lender (as the same may from time to time be

	 	 
amended, restated, modified or otherwise supplemented, the “First Term Loan Note Amendment”), amending the First Amended and Restated Term Loan Note dated April 19, 2010
from Borrowers to the order of Lender (as the same may from time to time be amended, restated, modified or otherwise supplemented, the “Original Term Loan Note”). The First Term Loan Note Amendment is incorporated herein by
reference, made a part hereof and shall be substantially in the form of Exhibit A attached hereto. References to “Term Loan Note” in the Credit Agreement are hereby amended so that such term includes the Original Term Loan Note, the
First Term Loan Note Amendment and any amendments, modifications or replacements of the same. 

  

	 	(b)	Such resolutions, certificates, written opinions of Borrowers’ independent counsel and other instruments, documents, agreements, information and reports as may be
reasonably requested by Lender, in form and substance reasonably satisfactory to Lender. 

 3. Borrowers hereby
represent and warrant that no Event of Default or Unmatured Event of Default has occurred and continues to exist under the Credit Agreement and the other Loan Documents and that all representations and warranties in the Credit Agreement and the
other Loan Documents are reaffirmed to be true and correct as of the date hereof, which representations and warranties shall survive execution of this First Amendment. 

4. Borrowers have previously delivered to Lender all of the relevant organizational and governing documents and agreements of Borrowers
and all such documents and agreements remain in full force and effect and have not been amended or modified since they were delivered to Lender. 

5. Borrowers shall be responsible for paying all Expenses incurred by Lender in connection with this First Amendment pursuant to
Section 8.5 of the Credit Agreement. 
 6. Except as specifically amended herein, the Credit Agreement shall remain in full
force and effect as originally executed. Except for any specific waiver set forth in this First Amendment, nothing herein shall be deemed to be a consent to a waiver or amendment of any covenant or agreement contained in the Credit Agreement or the
other Loan Documents and all such other covenants and agreements contained in the Credit Agreement and the other Loan Documents are hereby confirmed and ratified in all respects and shall remain in full force and effect in accordance with their
respective terms. 
 7. This First Amendment shall be binding on the successors and assigns of the parties hereto. 

8. This First Amendment may be executed in any number of counterparts, each of which when so executed shall be deemed to be an original
and all of which when taken together shall constitute but one and the same agreement. 
 [Signature Page Follows]

  

 2 

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

			
	BORROWERS:
	
	Green Plains Grain Company LLC
		
	By:	 	/s/ Jerry Peters
	Name:	 	Jerry Peters
	Title:	 	Chief Financial Officer
	
	Green Plains Grain Company TN LLC
		
	By:	 	/s/ Jerry Peters
	Name:	 	Jerry Peters
	Title:	 	Chief Financial Officer
	
	Lender:
	
	First National Bank of Omaha
		
	By:	 	/s/ Kenneth Feaster
	Name:	 	Kenneth Feaster
	Title:	 	Vice President

  

 3 

 EXHIBIT A 

First Term Loan Note Amendment

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00176-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00176-of-00352.parquet"}]]