Document:

Ex-10.13

 

Exhibit 10.13

WRITTEN DESCRIPTION OF DIRECTOR COMPENSATION

PURSUANT TO ITEM 601(b)(10)(iii)(A) OF REGULATION S-K

For 2005, the Board of Directors of Bank of Granite Corporation (the “Company”) approved changes in
the Company’s director fees, as recommended by the Board of Director’s Nominating and Corporate
Governance Committee. Under the 2005 fee arrangement, director fees will be paid only to
nonemployee directors. Each nonemployee director will be paid a retainer in the amount of $7,500
per year and a fee for each Board or committee meeting attended in the amount of $250. Committee
chairpersons will receive $400 for each committee meeting they conduct in lieu of the $250 meeting
fee paid to the other directors in attendance. Directors will continue to receive a reimbursement
for miles traveled to meetings at the Company’s standard mileage reimbursement rates, which are
consistent with those set by the Internal Revenue Service.

The Board of Directors has not yet addressed director compensation for 2006, and it currently
remains the same as 2005.Agreement between Waste Services, Kelso and KEP

 

Exhibit 4.4

     AGREEMENT effective as of the 28th day of December, 2005 among Waste Services,
Inc., a Delaware corporation (“WSI”) and Kelso Investment Associates VI, L.P., a Delaware limited
partnership, and KEP VI, LLC, a Delaware limited liability company, (collectively, the “Kelso
Parties”).

     WHEREAS, the Kelso Parties are the holders of all of the issued and outstanding shares of
Series A Preferred Stock of WSI;

     AND WHEREAS, WSI has, pursuant to the Fourth Amendment to Amended and Restated Credit
Agreement dated as of December 28, 2005 (the “Fourth Amendment”), agreed to incur additional
indebtedness in an aggregate principal amount of up to $50 million under the incremental term loan
facility pursuant to Section 10.1(b) of the Amended and Restated Credit Agreement, dated as of
April 30, 2004, as amended; and

     AND WHEREAS, the Kelso Parties have agreed that the limitations and restrictions of the of the
Amended Certificate of Designations of the Series A Preferred Stock of WSI shall be amended as
provided herein.

     NOW, THEREFORE, it is agreed as follows:

	 	1.	 	Amendment to Section 5(c). The number $320 million in the
parenthetical in the last sentence of Section 5(c) is hereby amended to read “$320
million plus the amount of additional indebtedness incurred under the incremental term
loan facility pursuant to the Fourth Amendment”.
	 
	 	2.	 	Amendments to Section 11.
	 
	 	 	 	The definition of Amended and Restated Credit Agreement is hereby amended to
provide that the aggregate term and revolving borrowings is $160 million plus the
amount of additional indebtedness incurred under the incremental term loan facility
pursuant to the Fourth Amendment.
	 
	 	 	 	The definition of Committed Amount is hereby amended by inserting after the number
$320 million the following: “plus the amount of additional indebtedness incurred
under the incremental term loan facility pursuant to the Fourth Amendment”.
	 
	 	3.	 	Certificate of Designations For the avoidance of doubt, the parties
hereto hereby acknowledge and agree that the amendments to the Certificate of
Designations contained in this agreement shall be deemed to be amendments to the
Certificate of Designations.
	 
	 	4.	 	Full Force and Effect. Except as provided herein, the Certificate of
Designations shall continue in full force and effect in accordance with the provisions
thereof.

 

 

     IN WITNESS WHEREOF, the parties hereto have caused this agreement to be executed as of the day
and year first above written.

	 	 	 	 	 
	 	WASTE SERVICES, INC.

 	 
	 	By:  	/s/
Ivan R. Cairns
 	 
	 	 	Ivan R. Cairns 	 
	 	 	Executive Vice-President and
General Counsel 	 
	 
	 	KELSO INVESTMENT ASSOCIATES VI, L.P.

 	 
	 	By:  	Kelso GP VI, LLC,
 	 
	 	 	Its general partner 	 
	 	 	 	 
	 
	 	 	 
	 	By:  	/s/
George E. Matelich
 	 
	 	 	George E. Matelich	 
	
 	 	Managing Member 	 
	 	 	 	 
	 
	 	KEP VI, LLC

 	 
	 	By:  	/s/
George E. Matelich
 	 
	 	 	George E. Matelich	 
	
 	 	Managing MemberSupplemental Indenture

 

Exhibit 4.11

SUPPLEMENTAL INDENTURE

     SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”), dated as of
November 29, 2005, among WSI Waste Services of Texas, LP, a Texas limited
partnership (the “Guaranteeing Subsidiary”), a subsidiary of Waste Services,
Inc. (or its permitted successor), a Delaware corporation (the “Company”), the
Company, the other Guarantors (as defined in the Indenture referred to herein)
party to the Indenture on the date hereof and Wells Fargo Bank, National
Association, as trustee under the Indenture referred to below (the “Trustee”).

W I T N E S S E T H

     WHEREAS, the Company has heretofore executed and delivered to the
Trustee an indenture (the “Indenture”), dated as of April 30, 2004, providing
for the issuance of 9-1/2% Senior Subordinated Notes due 2014 (the “Notes”);

     WHEREAS, the Indenture provides that under certain circumstances the
Guaranteeing Subsidiary shall execute and deliver to the Trustee a supplemental
indenture pursuant to which the Guaranteeing Subsidiary shall unconditionally
guarantee all of the Company’s Obligations under the Notes and the Indenture on
the terms and conditions set forth herein (the “Note Guarantee”); and

     WHEREAS, pursuant to Section 9.01 of the Indenture, the Trustee is
authorized to execute and deliver this Supplemental Indenture;

     NOW, THEREFORE, in consideration of the foregoing and for other good
and valuable consideration, the receipt of which is hereby acknowledged, the
Guaranteeing Subsidiary and the Trustee mutually covenant and agree for the
equal and ratable benefit of the Holders of the Notes as follows:

     1. Capitalized Terms. Capitalized terms used herein without definition
shall have the meanings assigned to them in the Indenture.

     2. Agreement To Guarantee. The Guaranteeing Subsidiary hereby agrees to
provide an unconditional Guarantee on the terms and subject to the conditions
set forth in the Note Guarantee and in the Indenture including but not limited
to Article 11 thereof.

     3. No Recourse Against Others. No past, present or future director,
officer, employee, incorporator, stockholder or agent of the Guaranteeing
Subsidiary, as such, shall have any liability for any obligations of the Company
or any Guarantor (including the Guaranteeing Subsidiary) under the Notes, any
Note Guarantees, the Indenture or this Supplemental Indenture, as applicable, or
for any claim based on, in respect of, or by reason of, such obligations or
their creation. Each Holder of the Notes by accepting a Note waives and releases
all such liability. This waiver and release are part of the consideration for
issuance of the Notes. Such waiver may not be effective to waive liabilities
under the federal securities laws and it is the view of the SEC that such a
waiver is against public policy.

     4. NEW YORK LAW TO GOVERN. THIS SUPPLEMENTAL INDENTURE SHALL BE
GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAW OF THE STATE OF NEW YORK.

     5. Counterparts. The parties may sign any number of copies of this
Supplemental Indenture. Each signed copy shall be an original, but all of them
together represent the same agreement.

     6. Effect of Headings. The Section headings herein are for convenience
only and shall not affect the construction hereof.

 

 

     7. The Trustee. The Trustee shall not be responsible in any manner
whatsoever for or in respect of the validity or sufficiency of this Supplemental
Indenture or for or in respect of the recitals contained herein, all of which
recitals are made solely by the Guaranteeing Subsidiary and the Company.

     IN WITNESS WHEREOF, the parties hereto have caused this Supplemental
Indenture to be duly executed and attested, all as of the date first above
written.

	 	 	 	 	 
	 	WSI Waste Services of Texas, LP

 	 
	 	By:  	/s/ Ivan R. Cairns
 	 
	 	 	Ivan R. Cairns 	 
	 	 	Vice President and Secretary 	 
	 
	 	SANFORD RECYCLING AND TRANSFER, INC.

 	 
	 	By:  	/s/ Ivan R. Cairns
 	 
	 	 	Ivan R. Cairns 	 
	 	 	Vice President and Secretary 	 
	 
	 	WASTE SERVICES, INC.

 	 
	 	By:  	/s/ Ivan R. Cairns
 	 
	 	 	Ivan R. Cairns 	 
	 	 	Executive Vice President, General
Counsel and Secretary 	 
	 
	 	WASTE SERVICES OF FLORIDA, INC.

 	 
	 	By:  	/s/ Ivan R. Cairns
 	 
	 	 	Ivan R. Cairns 	 
	 	 	Vice President and Secretary 	 
	 
	 	JACKSONVILLE FLORIDA LANDFILL, INC.

 	 
	 	By:  	/s/ Ivan R. Cairns
 	 
	 	 	Ivan R. Cairns 	 
	 	 	Vice President and Secretary 	 
	 
	 	JONES ROAD LANDFILL AND RECYCLING, LTD.

by its General Partner,

JACKSONVILLE FLORIDA LANDFILL, INC.

 	 
	 	By:  	/s/ Ivan R. Cairns
 	 
	 	 	Ivan R. Cairns 	 
	 	 	Vice President and Secretary 	 
	 

Page 2 of 4

 

 

	 	 	 	 	 
	 	OMNI WASTE OF OSCEOLA COUNTY LLC

 	 
	 	By:  	/s/ Ivan R. Cairns
 	 
	 	 	Ivan R. Cairns 	 
	 	 	Manager 	 
	 
	 	CACTUS WASTE SYSTEMS, LLC

 	 
	 	By:  	/s/ Ivan R. Cairns
 	 
	 	 	Ivan R. Cairns 	 
	 	 	Manager 	 
	 
	 	WASTE SERVICES OF ARIZONA, INC.

 	 
	 	By:  	/s/ Ivan R. Cairns
 	 
	 	 	Ivan R. Cairns 	 
	 	 	Vice President and Secretary 	 
	 
	 	WASTE SERVICES LIMITED PARTNER, LLC

 	 
	 	By:  	/s/ Ivan R. Cairns
 	 
	 	 	Ivan R. Cairns 	 
	 	 	Manager 	 
	 
	 	WASTE SERVICES OF ALABAMA, INC.

 	 
	 	By:  	/s/ Ivan R. Cairns
 	 
	 	 	Ivan R. Cairns 	 
	 	 	Vice President and Secretary 	 
	 
	 	WS GENERAL PARTNER, LLC

by its Sole Member,

WASTE SERVICES, INC.

 	 
	 	By:  	/s/ Ivan R. Cairns
 	 
	 	 	Ivan R. Cairns 	 
	 	 	Executive Vice President, General

Counsel and Secretary 	 
	 

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	 	RUFFINO HILLS TRANSFER STATION LP

 	 
	 	By:  	/s/ Ivan R. Cairns
 	 
	 	 	Ivan R. Cairns 	 
	 	 	Vice President and Secretary 	 
	 
	 	FORT BEND REGIONAL LANDFILL LP

 	 
	 	By:  	/s/ Ivan R. Cairns
 	 
	 	 	Ivan R. Cairns 	 
	 	 	Vice President and Secretary 	 
	 
	 	FLORIDA RECYCLING SERVICES, INC.,

a Delaware Corporation

 	 
	 	By:  	/s/ Ivan R. Cairns
 	 
	 	 	Ivan R. Cairns 	 
	 	 	Vice President and Secretary 	 
	 
	 	FLORIDA RECYCLING SERVICES, INC.,

an Illinois Corporation

 	 
	 	By:  	/s/ Ivan R. Cairns
 	 
	 	 	Ivan R. Cairns 	 
	 	 	Vice President and Secretary 	 
	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION,

as Trustee

 	 
	 	By:  	/s/ Joseph P. O'Donnell
 	 
	 	 	Name:  	Joseph P. O'Donnell 	 
	 	 	Title:  	Vice President 	 
	 

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