Document:

Exhibit 10.29

 

Agreement and Release

 

This Agreement and Release (“Agreement”) is made by and among Alphabet Holding Company, Inc., a Delaware corporation (“Parent”), Parent’s wholly-owned subsidiary, NBTY, Inc., a Delaware corporation (together with any successor thereto, the “Company”), and Glenn Schneider (the “Employee”) (collectively, referred to as the “Parties” or individually referred to as a “Party”).  Capitalized terms used but not defined in this Agreement shall have the meanings set forth in the Employment Agreement (as defined below).

 

WHEREAS, the Parties have previously entered into that certain Employment Agreement, dated as of August 6, 2012 (the “Employment Agreement”);

 

WHEREAS, in connection with Employee’s termination of employment with the Company or a subsidiary or affiliate of the Company effective October 31, 2014, the Parties wish to resolve any and all disputes, claims, complaints, grievances, charges, actions, petitions, and demands that Employee may have against the Company, Parent, and any of the Releasees as defined below, including, but not limited to, any and all claims arising out of or in any way related to Employee’s employment with or separation from the Company or its subsidiaries or affiliates;

 

WHEREAS, upon Employee’s termination of employment and the execution of this Release, Employee and the Company agreed to enter into the Consulting Agreement attached hereto as Exhibit A (the “Consulting Agreement”) pursuant to which the Employee is and will continue to provide certain consulting services to the Company; and

 

WHEREAS, in connection with the commencement of the consulting services, the Severance Payments described in Section 4 of the Employment Agreement shall be postponed as set forth herein, and in consideration of entering into the Consulting Agreement, Employee agrees to extent the Restriction Period set forth in the Employment Agreement.

 

NOW, THEREFORE, in consideration of the Severance Payments described in Section 4 of the Employment Agreement and entering into the Consulting Agreement, which, are conditioned on Employee’s execution and non-revocation of this Agreement, and in consideration of the mutual promises made herein, the Company and Employee hereby agree as follows:

 

1.             Severance Payments; Salary and Benefits.  The Company agrees to provide Employee with the severance payments and benefits described in Section 4(b) of the Employment Agreement subject to the terms and conditions of, the Employment Agreement, provided that the Severance Payments will be paid in the form of salary continuation payments in regular installments over the twelve (12) month period following the termination/expiration of the Consulting Agreement instead of the twelve (12) month period following the Date of Termination as currently set forth in the Employment Agreement. In addition, the Employee and the Company agree to extend the Restriction Period, as provided in the Consulting Agreement. Notwithstanding the foregoing, to the extent not already paid, and subject to the terms and conditions of the Employment Agreement, the Company shall promptly pay or provide to Employee all other payments or benefits described in Section 3(c) of the Employment Agreement, subject to and in accordance with the terms thereof.

 

2.             Release of Claims.  Employee agrees that the foregoing consideration represents settlement in full of all outstanding obligations owed to Employee by the Company, Parent, any of their direct or indirect subsidiaries and affiliates (including, without limitation, TC Group, L.L.C. and its affiliated entities), and, in their capacities related to the foregoing, any of their current and former officers, directors, equity holders, managers, employees, agents, investors, attorneys, shareholders, administrators, affiliates, benefit plans, plan administrators, insurers, trustees, divisions, and subsidiaries and predecessor and successor corporations and assigns (collectively, the “Releasees”).  Employee, on his own behalf and on behalf of any of Employee’s affiliated companies or entities and any of their respective heirs, family members, executors, agents, and assigns, hereby and forever releases the Releasees from, and agrees not to sue concerning, or in any manner to institute, prosecute, or pursue, any claim, complaint, charge, duty, obligation, or cause of action relating to any matters of any kind, whether presently known or unknown, suspected or unsuspected, that Employee may possess against any of the Releasees arising from any omissions, acts, facts, or damages that have occurred up until and including the Effective Date of this Agreement (as defined in Section 7 below), including, without limitation:

 

(a)           any and all claims relating to or arising from Employee’s employment or service relationship with the Company or any of its direct or indirect subsidiaries or affiliates and the termination of that relationship;

 

 

(b)           any and all claims relating to, or arising from, Employee’s right to purchase, or actual purchase of any shares of stock or other equity interests of the Company or any of its affiliates, including, without limitation, any claims for fraud, misrepresentation, breach of fiduciary duty, breach of duty under applicable state corporate law, and securities fraud under any state or federal law;

 

(c)           any and all claims for wrongful discharge of employment; termination in violation of public policy; discrimination; harassment; retaliation; breach of contract, both express and implied; breach of covenant of good faith and fair dealing, both express and implied; promissory estoppel; negligent or intentional infliction of emotional distress; fraud; negligent or intentional misrepresentation; negligent or intentional interference with contract or prospective economic advantage; unfair business practices; defamation; libel; slander; negligence; personal injury; assault; battery; invasion of privacy; false imprisonment; conversion; and disability benefits;

 

(d)           any and all claims for violation of any federal, state, or municipal statute, including, but not limited to, Title VII of the Civil Rights Act of 1964; the Civil Rights Act of 1991; the Rehabilitation Act of 1973; the Americans with Disabilities Act of 1990; the Equal Pay Act; the Fair Labor Standards Act; the Fair Credit Reporting Act; the Age Discrimination in Employment Act of 1967; the Older Workers Benefit Protection Act; the Employee Retirement Income Security Act of 1974; the Worker Adjustment and Retraining Notification Act; the Family and Medical Leave Act; the Sarbanes-Oxley Act of 2002; the New York City Human Rights Law;

 

(e)           any and all claims for violation of the federal or any state constitution;

 

(f)            any and all claims arising out of any other laws and regulations relating to employment or employment discrimination;

 

(g)           any claim for any loss, cost, damage, or expense arising out of any dispute over the non-withholding or other tax treatment of any of the proceeds received by Employee as a result of this Agreement; and

 

(h)           any and all claims for attorneys’ fees and costs.

 

Employee agrees that the release set forth in this section shall be and remain in effect in all respects as a complete general release as to the matters released.  This release does not release claims (x) that Employee has pursuant to (1) a Stock Option Agreement, dated May 13, 2011 between Parent and the Employee, as amended by an Amendment, effective December 12, 2013, (2) the Consulting Agreement, (3) the Indemnification Agreement between the Employee and Parent, dated as of August 6, 2012, and (4) the Indemnification Agreement between the Employee and the Company, dated as of August 6, 2012, and (y) that cannot be released as a matter of law, including, but not limited to, Employee’s right to file a charge with or participate in a charge by the Equal Employment Opportunity Commission, or any other local, state, or federal administrative body or government agency that is authorized to enforce or administer laws related to employment, against the Company (with the understanding that Employee’s release of claims herein bars Employee from recovering such monetary relief from the Company or any Releasee), claims for unemployment compensation or any state disability insurance benefits pursuant to the terms of applicable state law, claims to continued participation in certain of the Company’s group benefit plans pursuant to the terms and conditions of COBRA, claims to any benefit entitlements vested as the date of separation of Employee’s employment, rights with regard to any vested equity (including under any stockholders agreement governing such equity and any side letter relating thereto), and any rights to indemnity and coverage under the Company’s directors and officers insurance policies.

 

3.             Acknowledgment of Waiver of Claims under ADEA.  Employee understands and acknowledges that he is waiving and releasing any rights he may have under the Age Discrimination in Employment Act of 1967 (“ADEA”), and that this waiver and release is knowing and voluntary.  Employee understands and agrees that this waiver and release does not apply to any rights or claims that may arise under the ADEA after the Effective Date of this Agreement.  Employee understands and acknowledges that the consideration given for this waiver and release is in addition to anything of value to which Employee was already entitled.  Employee further understands and acknowledges that he has been advised by this writing that:  (a) he should consult with an attorney prior to executing this Agreement; (b) he has at least 21 days within which to consider this Agreement; (c) he has 7 days following his execution of this Agreement to revoke this Agreement; (d) this Agreement shall not be effective until after the revocation period has expired; and (e) nothing in this Agreement prevents or precludes Employee from challenging or seeking a determination in good faith of the validity of this waiver under the ADEA, nor does it impose any condition precedent, penalties, or costs for doing so, unless specifically authorized by federal law.  In the event Employee signs this Agreement and returns it to the Company in less than the 21-day period identified above,

 

 

Employee hereby acknowledges that he has freely and voluntarily chosen to waive the time period allotted for considering this Agreement.

 

4.             Severability.  In the event that any provision or any portion of any provision hereof or any surviving agreement made a part hereof becomes or is declared by a court of competent jurisdiction or arbitrator to be illegal, unenforceable, or void, this Agreement shall continue in full force and effect without said provision or portion of provision.

 

5.             No Oral Modification.  This Agreement may only be amended in a writing signed by Employee, a duly authorized officer of the Company and a duly authorized officer of Parent.

 

6.             Governing Law; Dispute Resolution.  This Agreement shall be subject to the provisions of Sections 11(a) and 11(i) of the Employment Agreement.

 

7.             Effective Date.  If Employee has attained or is over the age of 40 as of the date of Employee’s termination of employment, then the Employee has seven days after he signs this Agreement to revoke it and this Agreement will become effective on the eighth day after Employee signed this Agreement, so long as it has been signed by the Parties and has not been revoked by the Employee before that date (the “Effective Date”).

 

8.             Voluntary Execution of Agreement.  Employee understands and agrees that he executed this Agreement voluntarily, without any duress or undue influence on the part or behalf of the Company, Parent or any third party, with the full intent of releasing all of his claims against the Company, Parent and any of the other Releasees.  Employee acknowledges that:  (a) he has read this Agreement; (b) he has not relied upon any representations or statements made by the Company or Parent that are not specifically set forth in this Agreement; (c) he has been represented in the preparation, negotiation, and execution of this Agreement by legal counsel of his own choice or has elected not to retain legal counsel; (d) he understands the terms and consequences of this Agreement and of the releases it contains; and (e) he is fully aware of the legal and binding effect of this Agreement.

 

 

IN WITNESS WHEREOF, the Parties have executed this Agreement on the respective dates set forth below.

 

 

	
Dated:
    	
November 19,   2014
    	
 
    	
COMPANY (or any successor thereto)
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
By:
    	
/s/Karla   Packer
    
	
 
    	
 
    	
 
    	
Name:
    	
Karla   Packer
    
	
 
    	
 
    	
 
    	
Title:
    	
Senior   Vice President Human Resources
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
Dated:
    	
November 19,   2014
    	
 
    	
PARENT (or any successor thereto)
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
By:
    	
/s/Karla   Packer
    
	
 
    	
 
    	
 
    	
Name:
    	
Karla   Packer
    
	
 
    	
 
    	
 
    	
Title:
    	
Senior   Vice President Human Resources
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
Dated:
    	
November 19,   2014
    	
 
    	
EXECUTIVE
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
By:
    	
Glenn   Schneider
    
	
 
    	
 
    	
 
    	
Name:
    	
Glenn   SchneiderEx10_2

		
			Exhibit 10.2
		

		
			 
		

		
			FIRST AMENDMENT TO CREDIT AGREEMENT
		

		
			 
		

		
			THIS FIRST AMENDMENT TO CREDIT AGREEMENT (this “Amendment”), dated as of  September 26, 2014, is by and among CH2M HILL COMPANIES, LTD., a Delaware corporation (the “Parent”), CH2M HILL, INC., a Florida corporation (“CH2M Inc.”), OPERATIONS MANAGEMENT INTERNATIONAL, INC., a California corporation (“OMI”), CH2M HILL ENGINEERS, INC., a Delaware corporation (“CH2M Engineers”), CH2M HILL GLOBAL, INC., a Delaware corporation (“CH2M Global”), CH2M HILL CONSTRUCTORS, INC., a Delaware corporation (“CH2M Constructors”), and CHVENG, LLC, a Delaware limited liability company (“CHVENG,” and together with the Parent, CH2M Inc., OMI, CH2M Engineers, CH2M Global and CH2M Constructors, each a “Borrower,” and, collectively, the “Borrowers”), the subsidiaries of the Borrowers party hereto (the “Subsidiary Guarantors”),  the Lenders (as defined below) party hereto and WELLS FARGO BANK, NATIONAL ASSOCIATION, as administrative agent on behalf of the Lenders under the Credit Agreement (as hereinafter defined) (in such capacity, the “Administrative Agent”).  Capitalized terms used herein and not otherwise defined herein shall have the meanings ascribed thereto in the Credit Agreement.
		

		
			W I T N E S S E T H
		

		
			 
		

		
			WHEREAS, the Borrowers, the Subsidiary Guarantors, certain banks and financial institutions from time to time party thereto (the “Lenders”) and the Administrative Agent are parties to that certain Second Amended and Restated Credit Agreement dated as of March 28, 2014 (as amended, modified, extended, restated, replaced, or supplemented from time to time, the “Credit Agreement”); 
		

		
			 
		

		
			WHEREAS, the Loan Parties have requested that the Required Lenders amend certain provisions of the Credit Agreement; and
		

		
			 
		

		
			WHEREAS, the Required Lenders are willing to make such amendments to the Credit Agreement, in accordance with and subject to the terms and conditions set forth herein.
		

		
			 
		

		
			NOW, THEREFORE, in consideration of the agreements hereinafter set forth, and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto agree as follows:
		

		
			 
		

		
			ARTICLE I
AMENDMENTS TO CREDIT AGREEMENT
		

		
			 
		

		
			1.1New Definitions; Rule of Construction.    
		

		
			 
		

			
	
			
				 (a)
			The following definitions are hereby added to Section 1.01 of the Credit Agreement in the appropriate alphabetical order:

		
			 
		

		
			“2014 Payment Period” has the meaning set forth in Section 7.06(b)(i) of this Agreement.
		

		
			 
		

		
			“2015 Payment Period” has the meaning set forth in Section 7.06(b)(i) of this Agreement.
		

		
			 
		

		
			“Asset Disposition” means any Disposition permitted pursuant to Section 7.05(i) of this Agreement.
		

		
			“First Amendment Effective Date” means September 26, 2014.
		

		
			 
		

		

		

		 

 

		“Legally Required Restricted Payments” means the repurchases of the Parent’s common stock to the extent such repurchase is required by Law or the Parent’s benefits plans as in effect on the Closing Date.
		

		
			 
		

		
			“Middle East” means one or more of countries or states commonly known as Bahrain, Cyprus, Egypt, Iraq, Israel, Jordan, Kuwait, Lebanon, Northern Cyprus, Oman, Qatar, Saudi Arabia, Turkey, and United Arab Emirates.
		

		
			 
		

		
			“Middle East Letters of Credit” means any letters of credit or bank undertakings issued by any bank or other issuer of letters of credit or bank undertakings to support operations and projects of the Loan Parties or their Subsidiaries in the Middle East.
		

		
			 
		

		
			“preferred stock” means, with respect to any Person, an Equity Interest of any class or classes (however designated) of such Person that is preferred as to the payment of dividends, or as to the distribution of assets upon any voluntary or involuntary liquidation or dissolution of such Person, over shares of capital stock (or ownership or profits interest in) of such Person of any other class.
		

		
			 
		

		
			(b)Section 1.02 of the Credit Agreement is hereby amended by adding the following clause (q):
		

		
			 
		

		
			(q)Classifications. For purposes of determining compliance with the covenants under this Agreement, in the event that an item to be classified meets the criteria of more than one of the categories described, the Parent will be entitled to classify such item (or portion thereof) and later reclassify such item (or portion thereof) in any manner otherwise consistent with this Agreement.
		

		
			 
		

		
			1.2Amendment to Definition of Consolidated Adjusted EBITDA.  The definition of Consolidated Adjusted EBITDA set forth in Section 1.01 of the Credit Agreement is hereby amended by: renumbering the existing subclause (vi) appearing in clause (a) to be subclause (vii) and by inserting a new subclause (vi) to read as follows:
		

		
			 
		

		
			(vi)   cash restructuring charges incurred during the Fiscal Year ending December 31, 2014 or the Fiscal Year ending December 31, 2015 in an aggregate amount not exceed (A) with respect to the Fiscal Year ending December 31, 2014, $80,000,000 and (B) with respect to the Fiscal Year ending December 31, 2015, $40,000,000 plus an amount equal to the amount, if any, by which such cash restructuring charges in the Fiscal Year ending December 31, 2014 were less than $80,000,000, and
		

		
			 
		

		
			1.3Amendments to Definition of Consolidated Total Funded Debt.    
		

		
			 
		

			
	
			
				 (a)
			 Clause (e) contained in the definition of Consolidated Total Funded Debt set forth in Section 1.01 of the Credit Agreement is hereby amended and restated in its entirety to read as follows:

		
			 
		

		
			(e) all obligations of such Person to purchase, redeem, retire, defease or make other similar principal payments (other than dividends) in respect of Disqualified Equity Interests in cash valued, in the case of a redeemable preferred interest, at the greater of its voluntary or involuntary liquidation preference plus accrued and unpaid dividends that are past due, plus
		

		
			 
		

			
	
			
				 (b)
			The first proviso contained in the definition of Consolidated Total Funded Debt set forth in Section 1.01 of the Credit Agreement is hereby amended by replacing the words “Consolidated Funded Debt” with the words “Consolidated Total Funded Debt”.

		
			 
		

		

		

		 

		

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		1.4Amendment to Definition of Consolidated Fixed Charge Coverage Ratio.  Clause (b) contained in the definition of Consolidated Fixed Charge Coverage Ratio set forth in Section 1.01 of the Credit Agreement is hereby amended by:
		

		
			 
		

			
	
			
				 (a)
			Adding “, without duplication,” after the word “sum” and before the word “of”; and

		
			 
		

			
	
			
				 (b)
			Amending and restating clause (iv) contained therein to read as follows:

		
			 
		

		
			(iv)  cash dividends paid or accrued on (A) preferred stock and (B) at all times on or prior to December 31, 2015, any other Equity Interests.
		

		
			 
		

		
			1.5Amendments to Definition of Indebtedness.    Clauses (b) and (g) contained in the definition of Indebtedness set forth in Section 1.01 of the Credit Agreement are hereby amended and restated in their entirety to read as follows:
		

		
			 
		

		
			(b) all direct or contingent obligations of such Person arising under letters of credit (including standby and commercial letters of credit), bankers’ acceptances, bank guaranties and other similar financial guarantees;
		

		
			 
		

		
			(g)  all obligations of such Person to purchase, redeem, retire, defease or make other similar principal payments (other than dividends) in respect of Disqualified Equity Interests in cash valued, in the case of a redeemable preferred interest, at the greater of its voluntary or involuntary liquidation preference plus accrued and unpaid dividends that are past due;
		

		
			 
		

		
			1.6Amendment to Section 7.03.    Clause (o) contained in Section 7.03 of the Credit Agreement is hereby amended and restated in its entirety to read as follows:
		

		
			 
		

		
			(o)    to the extent the Administrative Borrower, on behalf of the Borrowers, requests the issuance of a Credit pursuant to Section 2.04 and no L/C Issuer is able or willing to issue such Credit under this Agreement, whether because the issuance of such Credit cannot be made in accordance with the conditions of Section 2.04 or otherwise, the Borrowers may request banks and other issuers of letters of credit or independent undertakings within the meaning of, and complying with the requirements of, 12 C.F.R. §7.1016 as to which the issuer’s obligation to honor depends upon the presentation of specified documents and not upon non-documentary conditions or resolution of any questions of fact or law (such undertakings referred to in this clause (o) and the definition of Middle East Letters of Credit as “bank undertakings”) to issue standby and commercial letters of credit and bank undertakings instead of such requested Credit up to an aggregate amount available and undrawn or drawn and unreimbursed at any time for all such letters of credit and bank undertakings issued other than under this Agreement of up to a Dollar Equivalent of $150,000,000 (exclusive of fluctuations in foreign exchange rates after the date of issuance); provided,  that, notwithstanding the foregoing, without requesting the issuance of a Credit pursuant to Section 2.04 and whether or not any L/C Issuer is able or willing to issue such Credit under this Agreement, the Administrative Borrower may request the issuance of Middle East Letters of Credit from banks or other issuers of letters of credit or bank undertakings that are not L/C Issuers (for the avoidance of doubt, the other restriction set forth in this clause (o) shall apply (including such $150,000,000 aggregate limit) to such Middle East Letters of Credit).
		

		

		

		 

		

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		1.7Amendments to Section 7.06.    
		

		
			 
		

		
			(a)Section 7.06(a) of the Credit Agreement is hereby amended and restated in its entirety to read as follows:
		

		
			 
		

		
			(a)in the case of any Loan Party (other than the Parent) or any Significant Subsidiary, such Loan Party or Significant Subsidiary may declare or make, directly or indirectly, any Restricted Payment, or incur any obligation (contingent or otherwise) to do so, in respect of Restricted Payments to any Loan Party and to wholly-owned Subsidiaries of any Loan Party (and, in the case of a Restricted Payment by a non-wholly-owned Significant Subsidiary, to the owners of Equity Interests of such Significant Subsidiary, in respect of which such Restricted Payment is declared, made and/or incurred, on a pro rata basis based on their relative ownership interests);
		

		
			 
		

		
			(b)Section 7.06(b) of the Credit Agreement is hereby amended and restated in its entirety to read as follows:
		

		
			 
		

		
			(b)in the case of the Parent, Parent may declare or make, directly or indirectly, any Restricted Payment, or incur any obligation (contingent or otherwise) to do so, in respect of:
		

		
			 
		

			
	
			
				 (i)
			repurchases of its common stock offered for sale on the limited market (also known as the internal market) referred to in the “special provisions relative to stock” set forth in the Parent’s bylaws, as those bylaws are in effect as of the Closing Date;  provided, that, at the time of making each such Restricted Payment and after giving effect to such Restricted Payment, the aggregate amount of repurchases made in cash pursuant to this clause (b)(i) shall not exceed (A) with respect to such Restricted Payments made during the period from July 1, 2014 through December 31, 2014 (the “2014 Payment Period”), an amount equal to (1) $45,000,000 minus (2) the aggregate amount of Legally Required Restricted Payments made in cash during the 2014 Payment Period and (B) with respect to such Restricted Payments made during the period from January 1, 2015 through December 31, 2015 (the “2015 Payment Period”), an amount equal to (1) $45,000,000 plus (2) the amount, if any, by which the aggregate amount of Restricted Payments under this clause (b)(i) for the 2014 Payment Period were less than $45,000,000 minus (3) the aggregate amount of Legally Required Restricted Payments made in cash from January 1, 2015 through December 31, 2015;

			
	
			
				 (ii)
			Legally Required Restricted Payments;

			
	
			
				 (iii)
			Restricted Payments made in connection with and strictly for (A) payments on or repurchases of common stock issued by the Parent (including dividends on the Parent’s common stock but excluding Restricted Payments made pursuant to clauses (i) or (ii) above) or (B) redemptions of the preferred stock issued by the Parent (excluding any dividends on the preferred stock), in each case so long as (1) the aggregate amount of all such Restricted Payments in any Fiscal Year pursuant to this clause (iii) does not exceed $100,000,000, (2) no Default or Event of Default has occurred and is continuing or would result therefrom, (3) the cash distribution and payment thereof is in compliance with Section 6.07, (4) after giving effect to any such Restricted Payment pursuant to this clause (iii) on a pro forma basis, the Consolidated Leverage Ratio, determined as of the last day of the Fiscal Period most recently ended before such Restricted Payment for which the Parent has delivered financial statements pursuant to Section 6.01(a) or Section 6.01(b), is less than or equal to (y) 3.00:1.00, if the last day of such Fiscal Period is on or before December 31, 2015 and (z) 2.75:1.00, if the last day of such Fiscal Period is after December 31, 2015 and (5) with respect to any such Restricted 
		

		 

		

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			Payment made pursuant to this clause (iii) at any time on or prior to December 31, 2015, both before and after giving effect to such Restricted Payment, the Borrowers shall demonstrate pro forma compliance with the financial covenants set forth in Section 7.14;  provided, that, to the extent the aggregate amount of all Restricted Payments made pursuant to this clause (iii) in any Fiscal Quarter exceed $5,000,000 (and subsequent to crossing such threshold, each time the aggregate amount of all additional payments in any Fiscal Quarter exceeds an increment of $5,000,000),  the Borrowers shall concurrently provide a certificate executed by a Responsible Officer of the Parent evidencing compliance with the leverage ratio requirements set forth in clause (4) above and, if applicable, compliance with the financial covenant requirement set forth in clause (5) above;

			
	
			
				 (iv)
			Restricted Payments made in connection with the repurchase by the Parent of shares of its common stock or preferred stock in an aggregate amount not to exceed an amount equal to 50% of the cash proceeds received in connection with any Asset Disposition net of taxes paid as a result of such Asset Disposition (after taking into account any available tax credit or deductions and any tax sharing arrangements) so long as, after giving effect to any such Restricted Payment pursuant to this clause (iv), (A) no Default or Event of Default has occurred and is continuing or would result therefrom and (B) the Borrowers shall demonstrate pro forma compliance with the financial covenants set forth in Section 7.14 determined as of the last day of the Fiscal Period most recently ended before such Restricted Payment for which the Parent has delivered financial statements pursuant to Section 6.01(a) or Section 6.01(b);  

			
	
			
				 (v)
			Restricted Payments consisting of dividends on the Parent’s preferred stock so long as after giving effect to any such Restricted Payment pursuant to this clause (v), (A) no Default or Event of Default has occurred and is continuing or would result therefrom and (B) the Borrowers shall demonstrate pro forma compliance with the financial covenants set forth in Section 7.14 determined as of the last day of the Fiscal Period most recently ended before such Restricted Payment for which the Parent has delivered financial statements pursuant to Section 6.01(a) or Section 6.01(b);

			
	
			
				 (vi)
			Restricted Payments made (A) solely in Equity Interests of the Parent or (B) in an aggregate amount equal to the amount of proceeds received by the Parent from the issue of new Equity Interests of the Parent, so long as after giving effect to any such Restricted Payment pursuant to this clause (vi), the Borrowers shall demonstrate pro forma compliance with the financial covenants set forth in Section 7.14 determined as of the last day of the Fiscal Period most recently ended before such Restricted Payment for which the Parent has delivered financial statements pursuant to Section 6.01(a) or Section 6.01(b);

			
	
			
				 (vii)
			Restricted Payments made pursuant to any shareholder rights plan adopted for the purpose of protecting shareholders from takeover tactics (and solely to the extent that such Restricted Payments are made in furtherance of such purpose) ; provided, that, with respect to any Restricted Payment made pursuant to this clause (vii) at any time on or prior to December 31, 2015, the Borrowers shall demonstrate pro forma compliance with the financial covenants set forth in Section 7.14 determined as of the last day of the Fiscal Period most recently ended before such Restricted Payment for which the Parent has delivered financial statements pursuant to Section 6.01(a) or Section 6.01(b); and

			
	
			
				 (viii)
			Restricted Payments made by the Parent in connection with the net exercise by holders of options or warrants or similar securities, or in connection with the withholding 
		

		 

		

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			or payment of taxes upon the vesting of restricted stock, stock appreciation rights or similar securities of the Parent.

		
			1.8Amendment to Section 7.14(b).  Section 7.14(b) of the Credit Agreement is hereby amended and restated in its entirety to read as follows:
		

		
			 
		

			
	
			
				 (b)
			Maximum Consolidated Leverage Ratio. Maintain a Consolidated Leverage Ratio of less than or equal to (i) 3.25:1.00, as determined as of the last day of each Fiscal Period beginning with the Fiscal Period ending on September 30, 2014 and continuing through the Fiscal Period ending on December 31, 2015 and (ii) 3.00:1.00, as determined as of the last day of each Fiscal Period thereafter; provided that, following the date on which the aggregate amount of all Qualified Acquisitions consummated during the prior twelve month period is equal to or greater than $150,000,000, the Consolidated Leverage Ratio at the end of each of the four (4) Fiscal Periods following such date, shall be no greater than 3.25:1.00.

		
			ARTICLE II
CONDITIONS TO EFFECTIVENESS
		

		
			 
		

		
			2.1Closing Conditions.  This Amendment shall become effective as of the day and year set forth above (the “Amendment Effective Date”) upon satisfaction of the following conditions (in each case, in form and substance reasonably acceptable to the Administrative Agent):
		

		
			 
		

		
			(a)Executed Amendment.  The Administrative Agent shall have received a copy of this Amendment duly executed by each of the Loan Parties, the Required Lenders and the Administrative Agent.
		

		
			 
		

		
			(b)Fees and Expenses.  
		

		
			 
		

		
			(i)The Administrative Agent shall have received from the Borrowers, for the account of each Lender that executes and delivers a signature page to the Administrative Agent by 5 p.m. (EST) on or before September 27, 2014 (each such Lender, a “Consenting Lender”, and collectively, the “Consenting Lenders”), an amendment fee in an amount equal to the estimated amendment fee described in that certain Engagement Letter dated as of September 16, 2014 by and among the Borrowers, the Administrative Agent and Wells Fargo Securities, LLC (the “Engagement Letter”).
		

		
			 
		

		
			(ii)(A) The Administrative Agent shall have received from the Borrowers such fees and expenses that are payable pursuant to the Engagement Letter and (B) King & Spalding LLP shall have received from the Borrowers payment of all outstanding fees and expenses previously incurred and all fees and expenses incurred in connection with this Amendment.
		

		
			 
		

		
			(c)Miscellaneous.  All other documents and legal matters in connection with the transactions contemplated by this Amendment shall be reasonably satisfactory in form and substance to the Administrative Agent and its counsel.
		

		
			 
		

		

		

		 

		

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		ARTICLE III
MISCELLANEOUS
		

		
			 
		

		
			3.1Amended Terms.  On and after the Amendment Effective Date, all references to the Credit Agreement in each of the Loan Documents shall hereafter mean the Credit Agreement as amended by this Amendment.  Except as specifically amended hereby or otherwise agreed, the Credit Agreement is hereby ratified and confirmed and shall remain in full force and effect according to its terms.
		

		
			 
		

		
			3.2Representations and Warranties of Loan Parties.  Each of the Loan Parties represents and warrants as follows:
		

		
			 
		

		
			(a)It has taken all necessary corporate and other organizational action to authorize the execution, delivery and performance of this Amendment.
		

		
			 
		

		
			(b)This Amendment has been duly executed and delivered by such Person and constitutes such Person’s legal, valid and binding obligation, enforceable in accordance with its terms, except as enforcement thereof may be limited by Bankruptcy Laws or other applicable Laws affecting the enforcement of creditors’ rights generally and by general principles of equity.
		

		
			 
		

		
			(c)No approval, consent, exemption, authorization, or other action by, or notice to, or filing with, any Governmental Authority (other than the filing of a Form 8-K with the SEC after the date hereof) or any other Person is required in connection with the execution, delivery or performance by such Person of this Amendment.
		

		
			 
		

		
			(d)The representations and warranties set forth in Article V of the Credit Agreement are true and correct in all material respects (except that such materiality qualifier will not be applicable to any portion of any representation and warranty that is already qualified or modified by materiality in the text thereof) as of the date hereof, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they will be true and correct in all material respects (except that such materiality qualifier will not be applicable to any portion of any representation and warranty that is already qualified or modified by materiality in the text thereof) as of such earlier date, and except the representations and warranties contained in Section 5.10 will be deemed to refer to the most recent statements furnished pursuant to Section 6.01(a) and (b).
		

		
			 
		

		
			(e)After giving effect to this Amendment, no event has occurred and is continuing which constitutes a Default or an Event of Default.
		

		
			 
		

		
			(f)Except as amended by this Amendment, the Obligations are not reduced or modified by this Amendment and are not subject to any offsets, defenses or counterclaims.
		

		
			 
		

		
			3.3Reaffirmation of Obligations.  Each Loan Party hereby ratifies the Credit Agreement as amended by this Amendment and acknowledges and reaffirms (a) that it is bound by all terms of the Credit Agreement as so amended applicable to it and (b) that it is responsible for the observance and full performance of its respective Obligations.
		

		
			 
		

		
			3.4Loan Document.  This Amendment shall constitute a Loan Document under the terms of the Credit Agreement.
		

		
			 
		

		
			3.5Further Assurances.  The Loan Parties agree to promptly take such action, upon the request of the Administrative Agent, as is necessary to carry out the intent of this Amendment.
		

		

		

		 

		

			7

		

 

		 
		

		
			3.6Entirety.  This Amendment and the other Loan Documents embody the entire agreement among the parties hereto relating to the subject matter hereof and thereof and supersede all previous documents, agreements and understandings, oral or written, relating to the subject matter hereof and thereof. 
		

		
			 
		

		
			3.7Counterparts; Telecopy.  This Amendment may be executed in counterparts (and by different parties hereto in different counterparts), each of which when so executed and delivered will constitute an original, but all of which when taken together will constitute a single contract.  Delivery of an executed counterpart to this Amendment by telecopy or other electronic means shall be effective as an original and shall constitute a representation that an original will be delivered.  
		

		
			 
		

		
			3.8No Actions, Claims, Etc.  As of the date hereof, each of the Loan Parties hereby acknowledges and confirms that it has no knowledge of any actions, causes of action, claims, demands, damages and liabilities of whatever kind or nature, in law or in equity, against the Administrative Agent, the Lenders, or the Administrative Agent’s or the Lenders’ respective officers, employees, representatives, agents, counsel or directors arising from any action by such Persons, or failure of such Persons to act under the Credit Agreement on or prior to the date hereof.  
		

		
			 
		

		
			3.9GOVERNING LAW.    THIS AMENDMENT WILL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAW OTHER THAN NEW YORK GENERAL OBLIGATIONS LAW 5-1401 AND 5-1402.
		

		
			 
		

		
			3.10Successors and Assigns.  This Amendment shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns.
		

		
			 
		

		
			3.11Consent to Jurisdiction; Service of Process; Waiver of Jury Trial.  The jurisdiction, service of process and waiver of jury trial provisions set forth in Sections 10.18 and 10.20 of the Credit Agreement are hereby incorporated by reference, mutatis mutandis.
		

		
			 
		

		
			 
		

		
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			8

		

 

		

			CH2M HILL, INC.

		

		

			Amendment to credit agreement

		

		IN WITNESS WHEREOF the parties hereto have caused this Amendment to be duly executed on the date first above written.
		

		
			 
		

		
			Borrowers:
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						CH2M HILL Companies, Ltd.

					
					
						CH2M HILL, Inc.

				
	
					
						By:

					
					
						/s/Steven Mathews

					
					
						By:

					
					
						/s/Steven Mathews

				
	
					
						Name:

					
					
						Steven Mathews

					
					
						Name:

					
					
						Steven Mathews

				
	
					
						Title:

					
					
						Treasurer and Authorized Signatory

					
					
						Title:

					
					
						Treasurer and Authorized Signatory

				
	
					
						Operations Management International, Inc.

					
					
						CH2M HILL Engineers, Inc.

				
	
					
						By:

					
					
						/s/Allan Chow

					
					
						By:

					
					
						/s/Steven Mathews

				
	
					
						Name:

					
					
						Allan Chow

					
					
						Name:

					
					
						Steven Mathews

				
	
					
						Title:

					
					
						Treasurer and Authorized Signatory

					
					
						Title:

					
					
						Treasurer and Authorized Signatory

				
	
					
						CH2M HILL Global, Inc.

					
					
						CH2M HILL Constructors, Inc.

				
	
					
						By:

					
					
						/s/Steven Mathews

					
					
						By:

					
					
						/s/Allan Chow

				
	
					
						Name:

					
					
						Steven Mathews

					
					
						Name:

					
					
						Allan Chow

				
	
					
						Title:

					
					
						Treasurer and Authorized Signatory

					
					
						Title:

					
					
						Treasurer and Authorized Signatory

				
	
					
						CHVENG, LLC

					
					
						 

					
					
						 

				
	
					
						By:

					
					
						/s/Steven Mathews

					
					
						 

					
					
						 

				
	
					
						Name:

					
					
						Steven Mathews

					
					
						 

					
					
						 

				
	
					
						Title:

					
					
						Treasurer and Authorized Signatory

					
					
						 

					
					
						 

				

		
			 
		

		
			 
		

		 

		

			 

		

 

		

			CH2M HILL, INC.

		

		

			Amendment to credit agreement

		

			
					
						 

					
					
						 

					
					
						 

				
	
					
						Subsidiary Guarantors:

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						CH2M HILL International, Ltd

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						By:

					
					
						/s/Steven Mathews

					
					
						 

				
	
					
						Name:

					
					
						Steven Mathews

					
					
						 

				
	
					
						Title:

					
					
						Treasurer and Authorized Signatory

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						CH2M HILL Alaska, Inc.

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						By:

					
					
						/s/Steven Mathews

					
					
						 

				
	
					
						Name:

					
					
						Steven Mathews

					
					
						 

				
	
					
						Title:

					
					
						Treasurer and Authorized Signatory

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						CH2M HILL Plateau Remediation Company

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						By:

					
					
						/s/Steven Mathews

					
					
						 

				
	
					
						Name:

					
					
						Steven Mathews

					
					
						 

				
	
					
						Title:

					
					
						Treasurer and Authorized Signatory

					
					
						 

				

		
			 
		

		
			 
		

		

		

		 

		

			 

		

 

		

			CH2M HILL, INC.

		

		

			Amendment to credit agreement

		

		

			 

		

		
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

				
	
					
						Administrative Agent:

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						Wells Fargo Bank, National Association,
in its capacity as Administrative Agent and a Lender

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						By:

					
					
						/s/Randall Schmidt

					
					
						 

				
	
					
						Name:

					
					
						Randall Schmidt

					
					
						 

				
	
					
						Title:

					
					
						Vice President

					
					
						 

				

		
			 
		

		

		

		 

		

			 

		

 

		

			CH2M HILL, INC.

		

		

			Amendment to credit agreement

		

		

			 

		

		
		

			
					
						 

					
					
						 

					
					
						 

				
	
					
						Lenders:

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						BNP Paribas

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						By:

					
					
						/s/Jamie Dillon

					
					
						 

				
	
					
						Name:

					
					
						Jamie Dillon

					
					
						 

				
	
					
						Title:

					
					
						Managing Director

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						By:

					
					
						/s/ Mary-Ann Wong

					
					
						 

				
	
					
						Name:

					
					
						Mary-Ann Wong

					
					
						 

				
	
					
						Title:

					
					
						Vice President

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						Bank Of The West

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						By:

					
					
						/s/Terry A. Switz, Jr.

					
					
						 

				
	
					
						Name:

					
					
						Terry A. Switz, Jr.

					
					
						 

				
	
					
						Title:

					
					
						Vice President

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						JPMorgan Chase Bank, N.A.

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						By:

					
					
						/s/Gregory T. Martin

					
					
						 

				
	
					
						Name:

					
					
						Gregory T. Martin

					
					
						 

				
	
					
						Title:

					
					
						Vice President

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						The Bank of Tokyo-Mitsubishi UFJ, LTD.

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						By:

					
					
						/s/Thomas Sterr

					
					
						 

				
	
					
						Name:

					
					
						Thomas Sterr

					
					
						 

				
	
					
						Title:

					
					
						Authorized Signatory

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						Bank of America, N.A.

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						By:

					
					
						/s/Arthur Ng

					
					
						 

				
	
					
						Name: 

					
					
						Arthur Ng

					
					
						 

				
	
					
						Title:

					
					
						Vice President

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						BMO Harris N.A.

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						By:

					
					
						/s/Michael Gift

					
					
						 

				
	
					
						Name:

					
					
						Michael Gift

					
					
						 

				
	
					
						Title:

					
					
						Vice President

					
					
						 

				

		
			 
		

		

		

		 

		

			 

		

 

		

			CH2M HILL, INC.

		

		

			Amendment to credit agreement

		

		

			 

		

		
		

			
					
						 

					
					
						 

					
					
						 

				
	
					
						RBS Citizens, N.A.

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						By:

					
					
						/s/Andre A. Nazareth

					
					
						 

				
	
					
						Name:

					
					
						Andre A. Nazareth

					
					
						 

				
	
					
						Title:

					
					
						Senior Vice President

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						The Northern Trust Company

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						By:

					
					
						/s/Molly Drennan

					
					
						 

				
	
					
						Name:

					
					
						Molly Drennan

					
					
						 

				
	
					
						Title:

					
					
						Senior Vice President

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						HSBC Bank USA, N.A.

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						By:

					
					
						/s/Katherine M. Wolfe

					
					
						 

				
	
					
						Name:

					
					
						Katherine M. Wolfe

					
					
						 

				
	
					
						Title:

					
					
						Vice President, Sr. Relationship Mgr.

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						U.S. Bank National Association

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						By:

					
					
						/s/Conan Schleicher

					
					
						 

				
	
					
						Name:

					
					
						Conan Schleicher

					
					
						 

				
	
					
						Title:

					
					
						Senior Vice President

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