Document:

exv10w1

 

Exhibit
10.1

AMERICAN OIL & GAS, INC.

2006 STOCK INCENTIVE PLAN

STOCK OPTION AGREEMENT

     American Oil & Gas, Inc. (the “Company”), pursuant to its 2006 Stock Incentive Plan (the
“Plan”), hereby grants to Optionee listed below (“Optionee”), an option to purchase the number of
shares of the Company’s Common Stock set forth below, subject to the terms and conditions of the
Plan and this Stock Option Agreement. Unless otherwise defined herein, the terms defined in the
Plan shall have the same defined meanings in this Stock Option Agreement.

I.     NOTICE OF GRANT

Optionee:

Date of Stock Option Agreement:

Date of Grant:

Vesting Commencement Date:

Exercise Price per Share:

Total Number of Shares Granted:

Term/Expiration Date:

	 	 	 
	Type of Option:

	 	      Incentive Stock Option or       Non-Incentive Stock Option
	 
	 	 
	Vesting Schedule:

	 	Except as provided in Section 11, the Option Shares subject to this Option shall vest according to the
following schedule:
	 
	 	 
	Exercise Period:

	 	This Option may
be exercised, to the extent
vested, for three months after
Optionee ceases to be an Eligible
Person, or such longer period as
may be applicable upon the death
or disability of Optionee as
provided herein, but in no event
later than the Term/Expiration
Date as provided above.

II.     AGREEMENT

     1. Grant of Option. The Company hereby grants to Optionee an Option to purchase the
number of shares of Common Stock (the “Option Shares”) set forth in the Notice of Grant, at

 

 

the exercise price per share set forth in the Notice of Grant (the “Exercise Price”).
Notwithstanding anything to the contrary anywhere else in this Option Agreement, this grant of an
Option is subject to the terms, definitions, and provisions of the Plan adopted by the Company,
which is incorporated herein by reference.

     If designated in the Notice of Grant as an Incentive Stock Option, this Option is intended to
qualify as an Incentive Stock Option as defined in Section 422 of the Code; provided, however, that
to the extent that the aggregate Fair Market Value of stock with respect to which Incentive Stock
Options (within the meaning of Code Section 422, but without regard to Code Section 422(d)),
including the Option, are exercisable for the first time by Optionee during any calendar year
(under the Plan and all other incentive stock option plans of the Company, if any) exceeds
$100,000, such options in excess of $100,000 shall be treated as not qualifying under Code Section
422, but rather shall be treated as Non-Incentive Stock Options to the extent required by Code
Section 422. The rule set forth in the preceding sentence shall be applied by taking options into
account in the order in which they were granted. For purposes of these rules, the Fair Market
Value of stock shall be determined as of the time the option with respect to such stock is granted.

     2. Exercise of Option. This Option is exercisable as follows:

     (a) Right to Exercise.

     (i) This Option shall be exercisable cumulatively according to the vesting schedule set out in
the Notice of Grant. For purposes of this Stock Option Agreement, Option Shares subject to this
Option shall vest based on Optionee’s Continuous Status as an Eligible Person.

     (ii) This Option may not be exercised for a fraction of a Share.

     (iii) In the event of Optionee’s death, disability or other termination of Optionee’s status
as an Eligible Person, the exercisability of the Option is governed by Sections 7, 8 and 9 below.

     (iv) In no event may this Option be exercised after the date of expiration of the term of this
Option as set forth in the Notice of Grant.

     (b) Method of Exercise. This Option shall be exercisable by written Notice (in the
form attached as Exhibit A). The Notice must state the number of Option Shares for which
the Option is being exercised, and such other representations and agreements with respect to such
Option Shares as may be required by the Company pursuant to the provisions of the Plan. The Notice
must be signed by Optionee and shall be delivered in person or by certified mail to the Secretary
of the Company. The Notice must be accompanied by payment of the Exercise Price plus
payment of any applicable withholding tax. This Option shall be deemed to be exercised upon
receipt by the Company of such written Notice accompanied by the Exercise Price and payment of any
applicable withholding tax.

2

 

     No Option Shares shall be issued pursuant to the exercise of an Option unless such issuance
and such exercise comply with all relevant provisions of law and the requirements of any stock
exchange upon which the Option Shares may then be listed. Assuming such compliance, for income tax
purposes the Option Shares shall be considered transferred to Optionee on the date on which the
Option is exercised with respect to such Option Shares.

     3. Optionee’s Representations. If the Option Shares purchasable pursuant to the
exercise of this Option have not been registered under the Securities Act of 1933, as amended (the
“Securities Act”), at the time this Option is exercised, Optionee shall, if required by the
Company, concurrently with the exercise of all or any portion of this Option, deliver to the
Company his or her investment representation statement in the form customarily used by the Company.

     4. Lock-Up Period. Optionee hereby agrees that if so requested by the Company or any
representative of the underwriters (the “Managing Underwriter”) in connection with any registration
of the offering of any securities of the Company under the Securities Act, Optionee shall not sell
or otherwise transfer any Option Shares or other securities of the Company during the 180-day
period (or such period as may be requested in writing by the Managing Underwriter and agreed to in
writing by the Company) (the “Market Standoff Period”) following the effective date of a
registration statement of the Company filed under the Securities Act. The Company may impose
stop-transfer instructions with respect to securities subject to the foregoing restrictions until
the end of such Market Standoff Period and these restrictions shall be binding on any transferee of
such Option Shares.

     5. Method of Payment. Payment of the Exercise Price shall be by any of the following,
or a combination thereof:

     (a) cash;

     (b) check; or

     (c) with the consent of the Option Committee, any method of payment, or combination thereof
that is permitted in the Plan.

     6. Restrictions on Exercise. If the issuance of Option Shares upon such exercise or
if the method of payment for such shares would constitute a violation of any applicable federal or
state securities or other law or regulation, then the Option may not be exercised. The Company may
require Optionee to make any representation and warranty to the Company as may be required by any
applicable law or regulation before allowing the Option to be exercised.

     7. Termination of Relationship. If Optionee ceases to be an Eligible Person (other
than by reason of Optionee’s death or the total and permanent disability of Optionee as defined in
Code Section 22(e)(3)), Optionee may exercise this Option, to the extent the Option was vested at
the date on which Optionee ceases to be an Eligible Person, but only
within three months from such
date (and in no event later than the expiration date of the term of this Option set forth in the
Notice of Grant). To the extent that the Option is not vested at the date on which Optionee ceases
to be an Eligible Person, or if Optionee does not exercise this Option within the time specified
herein, the Option shall terminate.

3

 

     8. Disability of Optionee. If Optionee ceases to be an Eligible Person as a result of
his or her total and permanent disability as defined in Code Section 422, Optionee may exercise the
Option to the extent the Option was vested at the date on which Optionee ceases to be an Eligible
Person, but only within twelve months from such date (and in no event later than the expiration
date of the term of this Option as set forth in the Notice of Grant). To the extent that the
Option is not vested at the date on which Optionee ceases to be an Eligible Person, or if Optionee
does not exercise such Option within the time specified herein, the Option shall terminate.

     9. Death of Optionee. If Optionee ceases to be an Eligible Person as a result of the
death of Optionee, the vested portion of the Option may be exercised at any time within twelve
months following the date of death (and in no event later than the expiration date of the term of
this Option as set forth in the Notice of Grant) by Optionee’s estate or by a person who acquires
the right to exercise the Option by bequest or inheritance. To the extent that the Option is not
vested at the date of death, or if the Option is not exercised within the time specified herein,
the Option shall terminate.

     10. Non-Transferability of Option. This Option may not be transferred in any manner
except by will or by the laws of descent or distribution. It may be exercised during the lifetime
of Optionee only by Optionee. The terms of this Option shall be binding upon the executors,
administrators, heirs, successors, and assigns of Optionee.

     11. Effect of Change in Control. In the event of a Change in Control of the Company
as defined in the Plan, all of the Option Shares subject to this Option shall be fully vested.

     12. Term of Option. This Option may be exercised only within the term set out in the
Notice of Grant.

(Signature Page Follows)

4

 

     This Agreement may be executed in two or more counterparts, each of which shall be deemed an
original and all of which shall constitute one document.

	 	 	 	 	 
	 	AMERICAN OIL & GAS, INC.

 	 
	 	 	By:  	____________________
 	 
	 	 	Name:  	____________________ 	 
	 	 	Title:  	____________________ 	 
	 

OPTIONEE ACKNOWLEDGES AND AGREES THAT THE VESTING OF OPTION SHARES PURSUANT TO THE OPTION
HEREOF IS EARNED ONLY BY CONTINUING CONSULTANCY OR EMPLOYMENT AT THE WILL OF THE COMPANY
(NOT THROUGH THE ACT OF BEING HIRED, BEING GRANTED THIS OPTION OR ACQUIRING SHARES
HEREUNDER). OPTIONEE FURTHER ACKNOWLEDGES AND AGREES THAT NOTHING IN THIS AGREEMENT, NOR IN
THE COMPANY’S 2006 STOCK INCENTIVE PLAN, WHICH IS INCORPORATED HEREIN BY REFERENCE, SHALL
CONFER UPON OPTIONEE ANY RIGHT WITH RESPECT TO CONTINUATION OF EMPLOYMENT OR CONSULTANCY BY
THE COMPANY, NOR SHALL IT INTERFERE IN ANY WAY WITH OPTIONEE’S RIGHT OR THE COMPANY’S RIGHT
TO TERMINATE OPTIONEE’S EMPLOYMENT OR CONSULTANCY AT ANY TIME, WITH OR WITHOUT CAUSE AND
WITH OR WITHOUT PRIOR NOTICE, UNLESS THE COMPANY AND THE OPTIONEE HAVE AGREED OTHERWISE IN
WRITING.

     Optionee acknowledges receipt of a copy of the Plan and represents that he or she is familiar
with the terms and provisions thereof. Optionee hereby accepts this Option subject to all of the
terms and provisions hereof. Optionee has reviewed the Plan and this Option in their entirety, has
had an opportunity to obtain the advice of counsel prior to executing this Option, and fully
understands all provisions of the Option. Optionee hereby agrees to accept as binding, conclusive,
and final all decisions or interpretations of the Compensation Committee upon any questions arising
under the Plan or this Option. Optionee further agrees to notify the Company upon any change in
the residence address indicated below.

	 	 	 	 
	Dated: 
	
	 	  

	 
	 	 
	 

	 	Name:  	

	 
	 	 
	 

	 	Address: 	 

	 
	 	 
	 

	 	Address: 	 

 

 

EXHIBIT A

AMERICAN OIL & GAS, INC.

2006 STOCK INCENTIVE PLAN

EXERCISE NOTICE

American Oil & Gas, Inc.

Attention: Stock Administration

     1. Exercise of Option. Effective as of today, ___, ___, the undersigned
(“Optionee”) hereby elects to exercise Optionee’s option to purchase ___shares of the Common
Stock (the “Option Shares”) of American Oil & Gas, Inc. (the “Company”) under and pursuant to the
Company’s 2006 Stock Incentive Plan (the “Plan”) and the Stock Option Agreement dated
___(the “Option Agreement”). Capitalized terms used herein without definition
shall have the meanings given in the Option Agreement.

	 	 	 	 	 	 	 	 	 
	Date of Grant:	 	 	 	 

	 
	 	 	 	 	 	 	 	 
	Number of Option Shares as to which
	 	 	 	 

	Option is Exercised:
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Exercise Price per Share:

	 	 	 	 	$	 	 	 
	 

	 	 	 	 	 	 	 

	 
	 	 	 	 	 	 	 	 
	Total Exercise Price:

	 	 	 	 	$	 	 	 
	 

	 	 	 	 	 	 	 

	 
	 	 	 	 	 	 	 	 
	Certificate to be Issued in Name of:	 	 	 	 

	 
	 	 	 	 	 	 	 	 
	Cash Payment Delivered Herewith:

	 	o
	 	 	$	 	 	 
	 

	 	 	 	 	 	 	 

	 
	 	 	 	 	 	 	 	 
	Type of Option:     o Incentive Stock Option	 	o
	 	Non-Qualified Stock Option

     2. Representations of Optionee. Optionee acknowledges that Optionee has received,
read, and understood the Plan and the Option Agreement. Optionee agrees to abide by and be bound
by their terms and conditions.

     3. Rights as Shareholder. Until the stock certificate evidencing such Option Shares
is issued (as evidenced by the appropriate entry on the books of the Company or of a duly
authorized transfer agent of the Company), no right to vote or receive dividends or any other
rights as a stockholder shall exist with respect to Option Shares subject to the Option,
notwithstanding the exercise of the Option. The Company shall issue (or cause to be issued) such
stock certificate promptly after the Option is exercised. No adjustment will be made for a
dividend or other right for which the record date is prior to the date the stock certificate is
issued. Optionee shall enjoy rights as a shareholder until such time as Optionee disposes of the
Option Shares. Upon such exercise, Optionee shall have no further rights as a holder of the Option
Shares.

1

 

     4. Tax Consultation. Optionee understands that Optionee may suffer adverse tax
consequences as a result of Optionee’s purchase of the Option Shares. Optionee represents that
Optionee has consulted with any tax consultants Optionee deems advisable in connection with the
purchase of the Option Shares and that Optionee is not relying on the Company for any tax advice.

     5. Investment Representation Statement and Stop-Transfer Orders.

     (a) Investment Representation Statement. If the Option Shares purchasable pursuant to
the exercise of this Option have not been registered under the Securities Act of 1933, as amended
(the “Securities Act”), at the time this Option is exercised, Optionee shall, if required by the
Company, concurrently with the exercise of all or any portion of this Option, deliver to the
Company his or her investment representation statement in the form customarily used by the Company.

     (b) Stop-Transfer Notices. Optionee agrees that, in order to ensure compliance with
the restrictions referred to herein, the Company may issue appropriate “stop transfer” instructions
to its transfer agent, if any, and that, if the Company transfers its own securities, it may make
appropriate notations to the same effect in its own records.

     (c) Refusal to Transfer. The Company shall not be required (i) to transfer on its
books any Option Shares that have been sold or otherwise transferred in violation of any of the
provisions of this Agreement or (ii) to treat as owner of such Option Shares or to accord the right
to vote or pay dividends to any purchaser or other transferee to whom such Option Shares shall have
been so transferred.

     6. Successors and Assigns. The Company may assign any of its rights under this
Agreement to single or multiple assignees, and this Agreement shall inure to the benefit of the
successors and assigns of the Company. Subject to the restrictions on transfer herein set forth,
this Agreement shall be binding upon Optionee and his or her heirs, executors, representatives,
administrators, successors, and assigns.

     7. Interpretation. Any dispute regarding the interpretation of this Agreement shall
be submitted by Optionee or by the Company forthwith to the Company’s Board of Directors or
committee thereof that is responsible for the administration of the Plan (the “Compensation
Committee”), which shall review such dispute at its next regular meeting. The resolution of such a
dispute by the Compensation Committee shall be final and binding on the Company and on Optionee.

     8. Governing Law; Severability. This Agreement shall be governed by and construed in
accordance with the laws of the State of Nevada excluding that body of law pertaining to conflicts
of law. Should any provision of this Agreement be determined by a court of law to be illegal or
unenforceable, the other provisions shall nevertheless remain effective and shall remain
enforceable.

     9. Notices. Any notice required or permitted hereunder shall be given in writing and
shall be deemed effectively given upon personal delivery or upon deposit in the United States mail
by certified mail, with postage and fees prepaid, addressed to the other party at its address

2

 

as shown below beneath its signature, or to such other address as such party may designate in
writing from time to time to the other party.

     10. Further Instruments. The parties agree to execute such further instruments and to
take such further action as may be reasonably necessary to carry out the purposes and intent of
this Agreement.

     11. Delivery of Payment. Optionee herewith delivers to the Company the full Exercise
Price for the Option Shares as set forth above in Section 1, as well as any applicable withholding
tax.

     12. Entire Agreement. The Plan and Option Agreement are incorporated herein by
reference. This Agreement, the Plan and the Option Agreement constitute the entire agreement of
the parties and supersede in their entirety all prior undertakings and agreements of the Company
and Optionee with respect to the subject matter hereof.

	 	 	 	 	 
	Accepted by:
	 	Submitted by:
	 
	 	 
	AMERICAN OIL & GAS, INC.
	 	OPTIONEE
	 
	 	 
	By: 
	 
	 	  

	 
	 	 
	Name: 
	 
	 	Name: 	 

	 
	 	 
	Its: 
	 
	 	Address: 	 

3exv10w1

 

Exhibit 10.1

THIRD AMENDMENT TO CREDIT AGREEMENT

     This Third Amendment to Credit Agreement (the “Amendment”), dated as of March 31,
2007, is among UNITED STATES LIME & MINERALS, INC., a Texas corporation (the “Borrower”),
the financial institutions and other lenders listed on the signature pages hereof (such financial
institutions and lenders, together with their respective successors and assigns, are referred to
hereinafter each individually as a “Lender” and collectively as “Lenders”), and
WELLS FARGO BANK, N.A., as administrative agent for the Lenders (the “Administrative
Agent”).

RECITALS:

     A. The Borrower, certain of the Lenders and the Administrative Agent entered into that certain
Credit Agreement dated as of August 24, 2004, as amended by First Amendment to Credit Agreement
dated as of August 31, 2005, and by Second Amendment to Credit Agreement dated as of October 19,
2005 (said Credit Agreement as amended, extended, renewed or restated from time to time, the
“Agreement”).

     B. The Borrower has requested certain amendments to the Agreement to, among other things, (a)
extend the Revolving Maturity Date, and (b) modify certain covenants.

     C. The Lenders, the Administrative Agent and the Swing Line Lender hereby agree to amend the
Agreement on and subject to the terms and conditions set forth herein.

     NOW, THEREFORE, in consideration of the premises herein contained and other good and valuable
considerations, the receipt and sufficiency of which are hereby acknowledged, the parties hereto
agree as follows:

ARTICLE I

Definitions

     1.1 Definitions. Capitalized terms used in this Amendment, to the extent not
otherwise defined herein, shall have the same meanings as in the Agreement as amended hereby, and
all references to “Sections,” “clauses,” “Articles,” “Exhibits,” and “Schedules” are references to
the Agreement’s sections, clauses, articles, exhibits and schedules.

ARTICLE II

Amendment

     2.1 Amendments to Section 1.01. Section 1.01 is amended as follows:

     (a) The following definitions are added to Section 1.01 in appropriate alphabetical
order:

     “Third Amendment” means the Third Amendment to Credit Agreement dated as of
March 31, 2007.

 

 

     “Third Amendment Closing Date” means March 31, 2007.

     (b) The definition of “Adjusted Cash Flow Leverage Ratio” is deleted in its
entirety.

     (c) The definition of “Applicable Rate” is amended by deleting therefrom the
word “Adjusted” each time it appears therein.

     (d) The pricing grid found in the definition of “Applicable Rate” is amended to
read as follows:

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	Revolving	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	Commitment	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	Fee and	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	Multiple	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	Advance	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	Term	 	 	LIBOR for	 	 	 	 
	 	Pricing	 	 	 	 	 	Commitment	 	 	Loans and	 	 	Base Rate	 
	 	Level	 	 	Cash Flow Leverage Ratio	 	 	Fee	 	 	Letters of Credit	 	 	for Loans	 
	 	I	 	 	Less than 1.50 to 1.00
	 	 	0.200%	 	 	1.125%	 	 	-0.625%	 
	 	II	 	 	Greater than or equal to 1.50 to
1.00 but less than 2.00 to 1.00
	 	 	0.200%	 	 	1.375%	 	 	-0.375%	 
	 	III	 	 	Greater than or equal to 2.00 to
1.00 but less than 2.50 to 1.00
	 	 	0.250%	 	 	1.625%	 	 	-0.125%	 
	 	IV	 	 	Greater than or equal to 2.50 to
1.00 but less than 3.00 to 1.00
	 	 	0.250%	 	 	1.875%	 	 	0.125%	 
	 	V	 	 	Greater than or equal to 3.00 to 1.00
	 	 	0.350%	 	 	2.125%	 	 	0.375%	 
	 

     (e) The last sentence of the definition of “Applicable Rate” is amended and
restated in its entirety to read as follows:

     Notwithstanding the foregoing, the Applicable Rate in effect from and after the Third
Amendment Closing Date through and including the date the Compliance Certificate for the
period ending June 30, 2007, is delivered pursuant to Section 6.02(b) shall be
Pricing Level II.

     (f) The definition of “Consolidated Senior Funded Indebtedness” is amended by
deleting from clause (a) thereof the words “but excluding any Subordinated Debt”.

     (g) The definition of “Excess Cash Flow” is amended by deleting therefrom the
number “4,000,000” and inserting in lieu thereof the number “5,000,000”.

     (h) The definition of “Fee Letter” is amended by adding after the word “of” the
following: “the Third Amendment to”.

     (i) The definition of “Fixed Charge Coverage Rate” is amended by adding the word
“and” immediately before clause (ii), by deleting therefrom clause (iii), and
by changing the last comma therein to a period.

     (j) Clause (a) of the definition of “Revolving Maturity Date” is amended by
deleting the reference to “October 20, 2010” and inserting in lieu thereof the date “April 2,
2012”;

2

 

     2.2 Amendment to Section 7.11. Clause (b) of Section 7.11 is amended and
restated in its entirety to read as follows:

     (b) Capital Expenditures, other than for gas wells, in the ordinary course of business
not exceeding $10,000,000 during any Fiscal Year.

     2.3 Amendment to Section 7.14. Clause (b) of Section 7.14 is amended by
deleting the existing table therefrom and substituting therefor the following table:

	 	 	 	 	 	 
	 
	 	 	 	 	Maximum Cash Flow	 
	 	Fiscal Quarters Ending	 	 	Leverage Ratio	 
	 	Second Amendment Closing Date and each
Fiscal Quarter and thereafter
	 	 	3.50 to 1.00	 
	 

     2.4 Further Amendment to Section 7.14. Clause (c) of Section 7.14 is deleted
in its entirety.

     2.5 Amendment to Schedules. Each Schedule to the Agreement shall remain as in effect
on the Closing Date and Second Amendment Closing Date, except to the extent set forth on the
Schedules to this Amendment.

ARTICLE III

Conditions Precedent

     3.1 Conditions. The effectiveness of this Amendment is subject to satisfaction of the
following conditions precedent:

     (a) The Administrative Agent shall have received executed counterparts of this Amendment
from each party hereto.

     (b) The representations and warranties contained herein and in all other Loan Documents,
as amended hereby, other than those that relate to a specific date and were true and correct
on such date, shall be true and correct as of the date hereof as if made on the date hereof.

     (c) No Default or Event of Default shall have occurred and be continuing.

     (d) The Administrative Agent shall have received a certified resolution of the Board of
Directors of the Borrower authorizing the execution, delivery and performance of this
Amendment.

     (e) The Administrative Agent shall have received the fees provided for in the Fee
Letter.

     (f) The Administrative Agent shall have received, in form and substance satisfactory to
the Administrative Agent and its counsel, such other documents, opinions, certificates and
instruments as the Administrative Agent shall reasonably require.

3

 

ARTICLE IV

Ratifications, Representations and Warranties

     4.1 Ratifications. The terms and provisions set forth in this Amendment shall modify
and supersede all inconsistent terms and provisions set forth in the Agreement and except as
expressly modified and superseded by this Amendment, the terms and provisions of the Agreement are
ratified and confirmed and shall continue in full force and effect. The Borrower, the Lenders and
the Administrative Agent agree that the Agreement as amended hereby shall continue to be legal,
valid, binding and enforceable in accordance with its terms.

     4.2 Representations and Warranties. The Borrower hereby represents and warrants to
the Administrative Agent and the Lenders that (i) the execution, delivery and performance of this
Amendment and any and all other Loan Documents executed and/or delivered in connection herewith
have been authorized by all requisite corporate action on the part of the Borrower and will not
violate the articles of incorporation or bylaws of the Borrower, (ii) the representations and
warranties contained in the Agreement, as amended hereby, and any other Loan Document are true and
correct on and as of the date hereof as though made on and as of the date hereof (excluding,
however, representations and warranties that relate to a specific date and were true and correct on
such date), (iii) no Default or Event of Default has occurred and is continuing, and (iv) the
Borrower is in full compliance with all covenants and agreements contained in the Agreement as
amended hereby.

ARTICLE V

Miscellaneous

     5.1 Survival of Representations and Warranties. All representations and warranties
made in this Amendment or any other Loan Document including any Loan Document furnished in
connection with this Amendment shall survive the execution and delivery of this Amendment and the
other Loan Documents, and no investigation by the Agent or the Lenders or any closing shall affect
the representations and warranties or the right of the Agent and the Lenders to rely upon them.

     5.2 Reference to Agreement. Each of the Loan Documents, including the Agreement and
any and all other agreements, documents, or instruments now or hereafter executed and delivered
pursuant to the terms hereof or pursuant to the terms of the Agreement as amended hereby, are
hereby amended so that any reference in such Loan Documents to the Agreement shall mean a reference
to the Agreement as amended hereby.

     5.3 Severability. Any provision of this Amendment held by a court of competent
jurisdiction to be invalid or unenforceable shall not impair or invalidate the remainder of this
Amendment and the effect thereof shall be confined to the provision so held to be invalid or
unenforceable.

     5.4 Successors and Assigns. This Amendment is binding upon and shall inure to the
benefit of each Lender, the Administrative Agent and the Borrower and their respective successors
and assigns, except the Borrower may not assign or transfer any of its rights or obligations
hereunder without the prior written consent of the Administrative Agent and each Lender.

4

 

     5.5 Effect of Waiver. No consent or waiver, express or implied, by the Administrative
Agent or any Bank to or for any breach of or deviation from any covenant, condition or duty by the
Borrower shall be deemed a consent or waiver to or of any other breach of the same or any other
covenant, condition or duty.

     5.6 Headings. The headings, captions, and arrangements used in this Amendment are for
convenience only and shall not affect the interpretation of this Amendment.

     5.7 Costs, Expenses and Taxes. The Borrower agrees to pay on demand all costs and
expenses of the Administrative Agent in connection with the preparation, reproduction, execution
and delivery of this Amendment and the other instruments and documents to be delivered hereunder
(including the reasonable fees and out-of-pocket expenses of counsel for the Administrative Agent
with respect thereto).

     5.8 Guarantor’s Acknowledgment. By signing below, each Guarantor (a) acknowledges,
consents and agrees to the execution, delivery and performance by the Borrower of this Amendment,
(b) acknowledges and agrees that its obligations in respect of its Guaranty (i) are not released,
diminished, waived, modified, impaired or affected in any manner by this Amendment or any of the
provisions contemplated herein and (ii) cover the Aggregate Commitments as increased by this
Amendment, (c) ratifies and confirms its obligations under its Guaranty, and (d) acknowledges and
agrees that it has no claims or offsets against, or defenses or counterclaims to, its Guaranty.

     5.9 Execution in Counterparts. This Amendment may be executed in any number of
counterparts and by different parties hereto in separate counterparts, each of which when so
executed and delivered shall be deemed to be an original and all of which when taken together shall
constitute but one and the same instrument. For purposes of this Amendment, a counterpart hereof
(or signature page thereto) signed and transmitted by any Person party hereto to the Administrative
Agent (or its counsel) by facsimile machine, telecopier or electronic mail is to be treated as an
original. The signature of such Person thereon, for purposes hereof, is to be considered as an
original signature, and the counterpart (or signature page thereto) so transmitted is to be
considered to have the same binding effect as an original signature on an original document.

     5.10 Governing Law; Binding Effect. This Amendment shall be governed by and construed
in accordance with the laws of the State of Texas applicable to agreements made and to be performed
entirely within such state, provided that each party shall retain all rights arising under federal
law, and shall be binding upon the parties hereto and their respective successors and assigns.

     5.11 ENTIRE AGREEMENT. THIS AMENDMENT AND ALL OTHER INSTRUMENTS, DOCUMENTS AND
AGREEMENTS EXECUTED AND DELIVERED IN CONNECTION WITH THIS AMENDMENT EMBODY THE FINAL, ENTIRE
AGREEMENT AMONG THE PARTIES HERETO AND SUPERSEDE ANY AND ALL PRIOR COMMITMENTS, AGREEMENTS,
REPRESENTATIONS AND UNDERSTANDINGS, WHETHER WRITTEN OR ORAL, RELATING TO THIS AMENDMENT, AND MAY
NOT BE CONTRADICTED OR VARIED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS
OR DISCUSSIONS OF THE PARTIES HERETO. THERE ARE NO ORAL AGREEMENTS AMONG THE PARTIES HERETO.

[Remainder of Page Intentionally Left Blank. Signature Pages Follow.]

5

 

     Executed as of the date first written above.

	 	 	 	 	 
	 	BORROWER:

UNITED STATES LIME & MINERALS, INC.

 	 
	 	By:  	 	 
	 	 	M. Michael Owens 	 
	 	 	Vice President and Chief Financial Officer 	 
	 

	 	 	 	 	 
	 	WELLS FARGO BANK, N.A., as Administrative

Agent and a Lender

 	 
	 	By:  	 	 
	 	 	Jay W. Denny 	 
	 	 	Senior Vice President 	 
	 

	 	 	 	 	 
	 	NATIONAL CITY BANK, as a Lender

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

6

 

	 	 	 	 	 
	 	ACKNOWLEDGED AND AGREED TO:

 

ARKANSAS LIME COMPANY 

 	 
	 	By:  	 	 
	 	 	M. Michael Owens 	 
	 	 	Vice President and Chief Financial Officer 	 
	 

	 	 	 	 	 
	 	COLORADO LIME COMPANY

 	 
	 	By:  	 	 
	 	 	M. Michael Owens 	 
	 	 	Vice President and Chief Financial Officer 	 
	 

	 	 	 	 	 
	 	TEXAS LIME COMPANY

 	 
	 	By:  	 	 
	 	 	M. Michael Owens 	 
	 	 	Vice President and Chief Financial Officer 	 
	 

	 	 	 	 	 
	 	U.S. LIME COMPANY (formerly named

U.S. LIME COMPANY — HOUSTON)

 	 
	 	By:  	 	 
	 	 	M. Michael Owens 	 
	 	 	Vice President and Chief Financial Officer 	 
	 

7

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00121-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00121-of-00352.parquet"}]]