Document:

exv4w7

EXHIBIT 4.7

AMENDMENT NO. 3

TO THE

TOREADOR RESOURCES CORPORATION

2005 LONG-TERM INCENTIVE PLAN

     TOREADOR RESOURCES CORPORATION, a Delaware corporation (the “Company”), pursuant to the
authority granted in Article 9 of the Toreador Resources Corporation 2005 Long-Term Incentive Plan
(the “Plan”), hereby amends the Plan, effective as of May 15, 2008 and subject to the approval of
the requisite vote of the stockholders of the Company, to (i) increase the number of shares of
Common Stock that are subject to the Plan, (ii) increase the number of shares that may be issued as
“Incentive Stock Options” (as defined in the Plan) and (iii) increase the number of shares of
Common Stock relating to “Awards” (as defined in the Plan) that may be granted to an “Executive
Officer” (as defined in the Plan) during any calendar year.

     1. Effective as of May 15, 2008, the first two sentences of Section 5.1 are hereby amended by
deleting said sentences in their entirety and substituting in lieu thereof the following:

Subject to adjustment as provided in Articles 11 and 12 of the Plan,
the maximum number of shares of Common Stock that may be delivered pursuant
to Awards under the Plan is 1,750,000 shares, 100% of which may be delivered
pursuant to Incentive Stock Options. Subject to adjustment pursuant to
Articles 11 and 12, no Executive Officer may receive in any
calendar year (i) Stock Options or SARs relating to more than 150,000 shares
of Common Stock, or (ii) Restricted Stock, Restricted Stock Units,
Performance Awards or Other Awards that are subject to the attainment of
Performance Goals relating to more than 150,000 shares of Common Stock;
provided, however, that all such Awards to any Executive Officer during any
calendar year shall not exceed an aggregate of more than 300,000 shares of
Common Stock.

     2. Except as amended hereby, the Plan, as previously amended, shall remain in full
effect.

     IN WITNESS WHEREOF, the Plan is amended effective as of the dates set forth above.

	 	 	 	 	 
	 	TOREADOR RESOURCES CORPORATION

 	 
	 	By:  	/s/ Nigel J. Lovett
 	 
	 	 	Name:  	Nigel J. Lovett 	 
	 	 	Title:  	President and Chief Executive Officerexv10w35

Exhibit 10.35

PlanetOut Inc.

Description of Management Retention and Severance Plan adopted January 11, 2008

     On January 11, 2008, our Board of Directors adopted a retention and severance plan for certain
of our management staff (the “Plan”), including our Interim Chief Financial Officer and our Chief
Technology Officer. The retention component of the Plan provides for certain cash payments if the
eligible participant remains with us through December 31, 2008 (or a pro rata portion thereof if
such participant is terminated without cause prior to that date). In addition, the severance
component of the Plan provides for certain cash payments in the event of termination without cause
at any time, unless the participant receives employment or an offer of employment from a successor
to us. Under the Plan, our Interim Chief Financial Officer is entitled to receive a retention
amount of up to $100,000 in addition to his previously disclosed compensation, a portion of which
may be payable to the executive services firm with which we contracted for his services. The
contract with the executive services firm requires us to provide thirty days’ notice prior to
termination of the engagement, but requires no other severance payments. Our Chief Technology
Officer is entitled to receive a retention amount of up to $50,000 under the Plan in addition to
the compensation and severance amounts contained in his previously disclosed employment agreement.
Our Chief Executive Officer is not participating in the Plan and the terms of our Chief Executive
Officer’s previously disclosed employment agreement remain unchanged. We estimate that the adoption
of the Plan, including both the retention and the severance components, may result in an additional
expense to us in the range of approximately $500,000 to a maximum of approximately $1.3 million.
The actual amounts will depend on numerous factors outside of our control, such as whether the
eligible participants choose to remain with us, the timing and nature of any transaction resulting
in a change of control and whether an acquirer chooses to retain the participant employees or to
assume the Plan and may ultimately be lower than the range listed above. We believe that providing
these incentives is important to preserving the value of our businesses while we evaluate our
strategic alternatives. The Plan provides that if a successor to us assumes the Plan with respect
to transitioning employees, our obligations under the Plan with respect to such employees would
terminate.exv10w1

Exhibit 10.1

Agreed Annual Borrowing Base Determination and Additional Borrowing Base

Redeterminations

Reference is made to that certain Credit Agreement dated as of February 12, 2007 among Pinnacle Gas
Resources, Inc., as Borrower, and The Royal Bank of Scotland plc, as a Lender and as Administrative
Agent (the “Credit Agreement”). Terms used herein and not otherwise defined herein shall have the
meaning given to them in the Credit Agreement.

In accordance with Section 2.8.2 of the Credit Agreement, Pinnacle has provided the Administrative
Agent with the Reserve Report and such other information requested by the Administrative Agent in
connection therewith for the purposes of the 2008 annual determination of the Borrowing Base. By
its execution hereof, the Borrower requests the Administrative Agent and Lenders to agree to a
modification of the amount and determination of the Proposed Borrowing Base and the Borrowing Base
by providing (in addition to and not in lieu of any other determinations or redeterminations of the
Borrowing Base provided for in the Credit Agreement) for certain agreed monthly redeterminations of
the Borrowing Base as set forth herein. Subject to the terms hereof, the Administrative Agent and
Lenders are willing to so agree.

THEREFORE, the Borrower, the Administrative Agent and the Lenders hereby agree as follows:

1. Until a further determination or redetermination as provided by the Credit Agreement, the
Borrowing Base shall be the amount set out in the following schedule, effective on April 1, 2008,
for the period from April 1, 2008 through April 30, 2008, and shall be redetermined effective on
the first day of each succeeding month set out such schedule to the amount set forth therein for
the indicated period with no further action by or notice from the Administrative Agent or Lenders,
and each such determination and redetermination shall be a determination or redetermination for
purposes of Section 2.8.8 of the Credit Agreement:

	 	 	 	 	 
	 	 	BORROWING
	APPLICABLE PERIOD	 	BASE
	April 1, 2008 through April 30, 2008
	 	$	18,500,000	 
	May 1, 2008 through May 31, 2008
	 	$	18,166,667	 
	June 1, 2008 through June 30, 2008
	 	$	17,833,333	 
	July 1, 2008 through July 31, 2008
	 	$	17,500,000	 
	August 1, 2008 through August 31, 2008
	 	$	17,166,667	 
	September 1, 2008 through September 30, 2008
	 	$	16,833,333	 
	October 1, 2008 through Next Determination
or Redetermination
	 	$	16,500,000	 

2. The above determination and redeterminations shall be in addition to, and not in lieu of any
other determination or redetermination provided for in the Credit Agreement.

3. Except as modified hereby, the terms and conditions of the Credit Agreement shall continue in
full force and effect.

Executed as of April 10, 2008.

(Signature page follows)

Page 1 

 

	 	 	 	 	 
	 	BORROWER:

PINNACLE GAS RESOURCES, INC.

 	 
	 	By:  	/s/ Ronald T. Barnes
 	 
	 	 	Name:  	Ronald T. Barnes 	 
	 	 	Title:  	Chief Financial Officer, Senior Vice President and Secretary 	 
	 

	 	 	 	 	 
	 	ADMINISTRATIVE AGENT:

THE ROYAL BANK OF SCOTLAND plc

 	 
	 	By:  	/s/ Mark Lumpkin, Jr.
 	 
	 	 	Name:  	Mark Lumpkin, Jr. 	 
	 	 	Title:  	Vice President 	 
	 

	 	 	 	 	 
	 	LENDERS:

THE ROYAL BANK OF SCOTLAND plc, as a Lender

 	 
	 	By:  	Mark Lumpkin, Jr.
 	 
	 	 	Name:  	Mark Lumpkin, Jr. 	 
	 	 	Title:  	Vice President 	 
	 

Page 2exv10w82

IBM Credit LLC

SIXTH AMENDED AND RESTATED

NOTES PAYABLE SUBORDINATION AGREEMENT

IBM CREDIT LLC

North Castle Drive

Armonk, NY 10504

Ladies and/or Gentlemen:

     This Sixth Amended and Restated Notes Payable Subordination Agreement amends and restates in
its entirety the Amended and Restated Notes Payable Subordination Agreement dated November 13, 2002
executed by Priority Fulfillment Services, Inc. (“PFS”). Supplies Distributors, Inc., with its
principal place of business at 500 North Central Expressway, Plano, TX 75074 (“SDI”), is/may become
further indebted to PFS. PFS represents that no part of said indebtedness has been assigned to or
subordinated in favor of any other person, firm or corporation, other than pursuant to the Notes
Payable Subordination Agreement, dated as of March 29, 2002 by and between PFS and Wachovia Bank,
National Association (formerly known as Congress Financial Corporation (Southwest)) (“Wachovia”)
(“Notes Payable Subordination Agreement”) and that PFS does not hold any security therefor.
Capitalized terms used herein without definition shall have the meaning ascribed thereto in the
Financing Agreement referred to below.

     To induce IBM Credit LLC (“IBM Credit”) to continue financing SDI under the terms of the
Agreement for Inventory Financing dated March 29, 2002 with SDI (as amended, modified, and
supplemented from time to time, the “Financing Agreement”) and in consideration of any loans,
advances, payments, extensions or credit (including the extension or renewal, in whole or in part,
of any antecedent or other debt), benefits or financial accommodations heretofore or hereafter
made, granted or extended by IBM Credit or which IBM Credit has or will become obligated to make,
grant or extend to or for the account of SDI whether under the Financing Agreement or otherwise,
and in consideration of any obligations heretofore or hereafter incurred by SDI to IBM Credit,
whether under the Financing Agreement or otherwise, PFS agrees to make the payment of the
indebtedness referred to in the first paragraph hereof and any and all other present or future
indebtedness of SDI to PFS together with any and all interest accrued thereon (collectively the
“Secondary Obligations”) subject and subordinate to the prior indefeasible payment in full of any
and all debts, obligations and liabilities of SDI to IBM Credit, whether absolute or contingent,
due or to become due, now existing or hereafter arising and whether direct or acquired by IBM
Credit by transfer, assignment or otherwise (collectively the “Primary Obligations”) and that SDI
shall make no payments to PFS until the Primary Obligations have been indefeasibly paid in full as
acknowledged in writing by IBM Credit. Notwithstanding the foregoing, SDI may make payments in
respect of the Secondary Obligations provided that (i) no Default or Event of Default exists
immediately prior to the payment of the Secondary Obligations and that no Default or Event of
Default will occur after any payment in respect of the Secondary Obligations and, (ii) any such
payment shall not cause the total amount of the Secondary Obligations to be less than Five Million
Five Hundred Thousand Dollars ($5,500,000), and (iii) such payment would be permitted under the
Notes Payable Subordination Agreement. Except as provided above, PFS agrees not to ask, demand,
sue for, take or receive payment or security for all or any part of the Secondary Obligations until
and unless all of the Primary Obligations shall have been fully paid and discharged.

     Upon any distribution of any assets of SDI whether by reason of sale, reorganization,
liquidation, dissolution, arrangement, bankruptcy, receivership, assignment for the benefit of
creditors, foreclosure or otherwise, IBM Credit shall be entitled to receive payment in full of the
Primary Obligations prior to the payment of any part of the Secondary Obligations. To enable IBM
Credit to enforce its rights hereunder in any such proceeding or upon the happening of any such
event, IBM Credit or any person whom IBM Credit may from time to time designate is hereby
irrevocably appointed attorney-in-fact for PFS with full power to act in the place and stead of PFS
including the right to make, present, file and vote proofs of claim against SDI on account of all
or any part of said Secondary Obligations as IBM Credit may deem

Page 1 of 3

 

advisable and to receive and collect any and all payments made thereon and to apply the same on
account of the Primary Obligations. PFS will execute and deliver to such instruments as IBM Credit
may require to enforce each of the Secondary Obligations, to effectuate said power of attorney and
to effect collection of any and all dividends or other payments which may be made at any time on
account thereof.

     While this instrument remains in effect, PFS will not assign to or subordinate in favor of any
other person, firm or corporation, (except for Wachovia subject to terms of the Intercreditor
Agreement dated the date hereof between Wachovia and IBM Credit) any right, claim or interest in or
to the Secondary Obligations or commence or join with any other creditor in commencing any
bankruptcy, reorganization or insolvency proceeding against SDI. IBM Credit may at any time, in
its discretion, renew or extend the time of payment of all or any portion of the Primary
Obligations or waive or release any collateral which may be held therefor and IBM Credit may enter
into such agreements with SDI as IBM Credit may deem desirable without notice to or further assent
from PFS and without adversely affecting IBM Credit’s rights hereunder in any manner whatsoever.

     In furtherance of the foregoing and as collateral security for the payment and discharge in
full of any and all of the Primary Obligations, PFS hereby transfers and assigns to IBM Credit the
Secondary Obligations and all collateral security therefor to which PFS now is or may at any time
be entitled and all rights under all guarantees thereof and agrees to deliver to IBM Credit
endorsed in blank all notes or other instruments now or hereafter evidencing said Secondary
Obligations. IBM Credit may file one or more financing statements concerning any security interest
hereby created without the signature of PFS appearing thereon.

     The within instrument is and shall be deemed to be a continuing subordination and shall be and
remain in full force and effect until all Primary Obligations have been performed and paid in full
and IBM Credit’s commitment, if any, under the Financing Agreement has been terminated.

Dated March 27, 2008.

	 	 	 	 	 
	 	PRIORITY FULFILLMENT SERVICES, INC.

 	 
	 	By:  	
 	 
	 	 	Name:  	Thomas J. Madden 	 
	 	 	Title:  	CFO

500 North Central Expressway

Plano, TX 75074 	 

Page 2 of 3

 

	 	 	 	 	 

To: IBM Credit LLC

     SDI hereby acknowledges notice of the within and foregoing subordination and agrees to be
bound by all the terms, provisions and conditions thereof. SDI further agrees not to repay all or
any part of the Secondary Obligations, or to issue any note or other instrument evidencing the same
or to grant any collateral security therefor without IBM Credit’s prior written consent.

	 	 	 	 	 
	 	SUPPLIES DISTRIBUTORS, INC.

 	 
	 	By:  	
 	 
	 	 	Name:  	Joseph Farrell 	 
	 	 	Title:  	President / CEO 	 
	 

	 	 	 	 	 
	ACCEPTED:

IBM CREDIT LLC

 	 	 
	By:  	
 	 	 
	 	Name:  	Stanton Clark 	 	 
	 	Title:  	Manager, Credit 	 	 
	 

ACKNOWLEDGMENT OF SUBORDINATION

                                                   )

                                         )SS

                                                   )

     On the 27th day of March, 2008, appeared before me                                          to me known to be
the individual described in and who executed the foregoing instrument, and who acknowledged to me
that the same was executed as his or her free and voluntary act for the uses and purposes therein
set forth.

	 	 	 	 	 
	 	 	 
	 	
 	 
	 	(Notary Public) 	 
	 	 	 
	 

My Commission Expires:

                    , ______

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