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Exhibit 10.1    
    

SIXTH AMENDMENT TO COMBINED CREDIT AGREEMENTS  

        THIS SIXTH AMENDMENT TO COMBINED CREDIT AGREEMENTS, dated as of March 19, 2003, but effective as of December 31, 2002 (the
"Amendment"), among Forest Oil Corporation, a New York corporation (the "U.S. Borrower"), Canadian
Forest Oil Ltd. and each other subsidiary of Canadian Forest which becomes a "Borrower" (as defined in the Canadian Credit Agreement) under the Canadian Credit Agreement (the
"Canadian Borrowers"), each of the lenders that is a signatory to, or which becomes a signatory to, the U.S. Credit Agreement (together with its
successors and assigns, the "U.S. Lenders"), each of the lenders that is a signatory to, or which becomes a signatory to, the Canadian Credit Agreement
(together with its successors and assigns, the "Canadian Lenders", and together with the U.S. Lenders, the "Combined
Lenders"), Bank of America, N.A., as U.S. Syndication Agent, Citibank, N.A., as U.S. Documentation Agent, J.P. Morgan Bank Canada, successor to The Chase Manhattan Bank of
Canada, as Canadian Administrative Agent, Bank of Montreal, as Canadian Syndication Agent, The Toronto-Dominion Bank, as Canadian Documentation Agent, and JPMorgan Chase Bank, successor to The Chase
Manhattan Bank, as Global Administrative Agent (in such capacity, together with its successors in such capacity, the "Global Administrative Agent"). 

W I T N E S S E T H:  

        1.     The
U.S. Borrower, Global Administrative Agent, the U.S. Syndication Agent, the U.S. Documentation Agent, and the U.S. Lenders are parties to that certain Credit
Agreement dated as of October 10, 2000, as previously amended (as previously amended, the "U.S. Credit Agreement"), pursuant to which the U.S.
Lenders agreed to make loans to and extensions of credit on behalf of the U.S. Borrower. 

        2.     The
Canadian Borrowers, Global Administrative Agent, the Canadian Administrative Agent, the Canadian Syndication Agent, the Canadian Documentation Agent, and the Canadian
Lenders are parties to that certain Credit Agreement dated as of October 10, 2000, as previously amended (as previously amended, the "Canadian Credit
Agreement", and together with the U.S. Credit Agreement, the "Combined Credit Agreements"), pursuant to which the Canadian
Lenders agreed to make loans to and extensions of credit on behalf of the Canadian Borrowers. 

        3.     The
parties to the Combined Credit Agreements intend to amend the Combined Credit Agreements as follows: 

        NOW,
THEREFORE, in consideration of the premises and the mutual covenants herein contained, the parties hereto agree as follows: 

        I.    Amendments to U.S. Credit Agreement.  

        A.    The definition of "Indebtedness" in Section 1.1 of the U.S. Credit Agreement
hereby is
amended in its entirety to read as follows: 

"    "Indebtedness" of any Person means, without duplication, (a) all obligations of such Person for borrowed money or with respect to
deposits or advances of any kind, (b) all obligations of such Person evidenced by bonds, debentures, notes or similar instruments, (c) all obligations of such Person under conditional
sale or other title retention agreements relating to Property acquired by such Person, (d) all obligations of such Person in respect of the deferred purchase price of Property or services
(excluding current accounts payable incurred in the ordinary course of business), (e) all Indebtedness of others secured by (or for which the holder of such Indebtedness has an existing right,
contingent or otherwise, to be secured by) any Lien on property owned or acquired by such Person, whether or not the Indebtedness secured thereby has been assumed, (f) all Guarantees by such
Person of Indebtedness of others, (g) all Capital Lease Obligations of such Person, (h) all obligations, contingent or otherwise, of such Person as an account party in respect of letters
of credit and letters of guaranty, (i) all obligations, contingent or otherwise, of 

 

such
Person in respect of bankers' acceptances, (j) all obligations of such Person with respect to any arrangement, directly or indirectly, whereby such Person or its Subsidiaries shall sell or
transfer any material asset, and whereby such Person or any of its Subsidiaries shall then or immediately thereafter rent or lease as lessee such asset or any part thereof, (k) all recourse and
support obligations of such Person or any of its Subsidiaries with respect to the sale or discount of any of its accounts receivable, and (l) all obligations of such Person with respect to
Production Payments sold by such Person or any prepayments for oil and gas production or other similar agreements; provided,  however, that, with respect to
determining the amount of Indebtedness under clause (a) or  clause (b) above, any application of Financial Accounting Standard No. 133 which
would have the effect of increasing or decreasing the
principal amount of any obligation for borrowed money shall be disregarded. The Indebtedness of any Person shall include the Indebtedness of any other Person (including any partnership in which such
Person is a general partner) to the extent such Person is liable therefor as a result of such Person's ownership interest in or other relationship with such entity, except to the extent the terms of
such Indebtedness provide that such Person is not liable therefor." 

        B.    Section 7.12(b) of the U.S. Credit Agreement hereby is amended in its entirety to read as follows: 

"    (b) Except
for hedged positions that are closed out with contracts with Canadian Forest regarding the physical delivery of Hydrocarbons, Borrower will not permit the Net
Liabilities for all Hedging Agreements entered into by Producers Marketing to be less than a negative U.S.$100,000 at any time. Except for contracts regarding the physical delivery of Hydrocarbons
that are closed out either with Hedging Agreements or other fixed price physical delivery contracts, Borrower will not permit the aggregate market value of all fixed price physical delivery contracts
in respect of Hydrocarbons to be less than a negative U.S.$100,000 at any time." 

        II.    Effectiveness. This Amendment shall become effective as of December 31, 2002 on the date
hereof when the Global Administrative Agent shall have received: 

        A.    Counterparts
hereof duly executed by the U.S. Borrower, the Canadian Borrowers, the Global Administrative Agent and at least the Required Lenders (or, in the case of any
party as to which an executed counterpart shall not have been received, telegraphic, telex, or other written confirmation from such party of execution of a counterpart hereof by such party); and 

        B.    An
amendment fee of $5,000 for the account of each Combined Lender executing this Amendment and returning its signature page to the Global Administrative Agent on
or before 4:00 p.m., Houston time, March 19, 2003. 

        III.    Reaffirmation of Representations and Warranties. To induce the Combined Lenders and the Global
Administrative Agent to enter into this Amendment, the U.S. Borrower and the Canadian Borrowers hereby reaffirm, as of the date hereof, the following: 

        (i)    The
representations and warranties of each Loan Party (as such term is defined in the U.S. Credit Agreement and the Canadian Credit Agreement, collectively, the
"Combined Loan Parties") set forth in the Combined Loan Documents to which it is a party are true and correct on and as of the date hereof (or, if
stated to have been made expressly as of an earlier date, were true and correct in all material respects as of such date). 

        (ii)   Each
of the U.S. Borrower and its Restricted Subsidiaries is duly organized, validly existing and in good standing under the laws of the jurisdiction of its
organization, has all requisite power and authority to carry on its business as now conducted and, except where the failure to do so, individually or in the aggregate, could not reasonably be expected
to result in a Material Adverse Effect, is qualified to do business in, and is in good standing in, every jurisdiction where such qualification is required. 

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        (iii)  The
execution, delivery and performance by U.S. Borrower of this Amendment and each other Combined Loan Document executed or to be executed by it, and the execution,
delivery and performance by each other Combined Loan Party of this Amendment and each other Combined Loan Document executed or to be executed by it, are within U.S. Borrower's and each such Combined
Loan Party's corporate, limited liability company and/or partnership powers, and have been duly authorized by all necessary corporate, limited liability company and/or partnership action, and if
required, stockholder, member and/or partner action. This Amendment and each other Combined Loan Document executed or to be executed by it has been duly executed and delivered by U.S. Borrower and
constitutes, and this Amendment and each other Combined Loan Document executed or to be executed by any Combined Loan Party, when executed and delivered by such Combined Loan Party, will constitute, a
legal, valid and binding obligation of U.S. Borrower or such Combined Loan Party (as the case may be), enforceable in accordance with their respective terms, subject to applicable bankruptcy,
insolvency, reorganization, moratorium or other laws affecting creditors' rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at
law. 

        (iv)  The
execution, delivery and performance by the U.S. Borrower of this Amendment and each other Combined Loan Document executed or to be executed by it, and the
execution, delivery and performance by each other Combined Loan Party of this Amendment and each Loan Document executed or to be executed by such Combined Loan Party, (a) do not require any
Governmental Approval or third party approvals, except such as have been obtained or made and are in full force and effect and except filings necessary to perfect Liens created under the Combined Loan
Documents, (b) will not violate any applicable Governmental Rule or the Organic Documents of U.S. Borrower or any such Combined Loan Party or any order of any Governmental Authority,
(c) will not violate or
result in a default under any indenture, agreement or other instrument binding upon U.S. Borrower or any such Combined Loan Party or its assets, or give rise to a right thereunder to require any
payment to be made by U.S. Borrower or any such Combined Loan Party, and (d) will not result in the creation or imposition of any Lien on any asset of U.S. Borrower or any such Combined Loan
Party except Liens created under the Combined Loan Documents. 

        (v)   No
Default under the Combined Loan Documents has occurred and is continuing and the U.S. Borrower is in compliance with the financial covenants set forth in  Article VI of the U.S. Credit Agreement.

        (vi)  No
event or events have occurred which individually or in the aggregate could reasonably be expected to have a Material Adverse Effect. 

        IV.    Defined Terms. Except as amended hereby, terms used herein when defined in the U.S. Credit
Agreement shall have the same meanings herein unless the context otherwise requires. 

        V.    Reaffirmation of Combined Credit Agreements. This Amendment shall be deemed to be an amendment to
the Combined Credit Agreements, and the Combined Credit Agreements, as amended hereby, are hereby ratified, approved and confirmed in each and every respect. All references to the Combined Credit
Agreements herein and in any other document, instrument, agreement or writing shall hereafter be deemed to refer to the Combined Credit Agreements as amended hereby. 

        VI.    Governing Law. THIS AMENDMENT SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW
YORK.  

        VII.    Severability of Provisions. Any provision of this Amendment held to be
invalid, illegal or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability without affecting the validity,
legality and enforceability of the 

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remaining
provisions hereof; and the invalidity of a particular provision in a particular jurisdiction shall not invalidate such provision in any other jurisdiction. 

        VIII.    Counterparts. This Amendment may be executed in counterparts (and by different parties hereto
on different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. Delivery of an executed counterpart of a signature
page of
this Amendment by telecopy shall be effective as delivery of a manually executed counterpart of this Amendment. 

        IX.    Headings. Article and section headings used herein are for convenience of reference
only, are not part of this Amendment and shall not affect the construction of, or be taken into consideration in interpreting, this Amendment. 

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

        XI.    No Oral Agreements. THIS AMENDMENT, THE COMBINED CREDIT AGREEMENTS, AS AMENDED HEREBY, AND THE
OTHER COMBINED LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES.  

        THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES.  

[SIGNATURES BEGIN ON FOLLOWING PAGE]

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        IN WITNESS WHEREOF, the U.S. Borrower, the Canadian Borrowers, the Combined Lenders, the Global Administrative Agent, and the other "agents" under the Combined Credit Agreements have
executed this Amendment as of the date first above written. 

	

 	
 	
U.S. BORROWER
	
 	
 	

FOREST OIL CORPORATION
	

 	
 	

By:	
 	

/s/  CAROLINE M. MCCLURG      

	 	 	Name:	 	Caroline M. McClurg
	 	 	Title:	 	Treasurer
	

 	
 	
CANADIAN BORROWER
	
 	
 	

CANADIAN FOREST OIL LTD.
	

 	
 	

By:	
 	

/s/  JOAN C. SONNEN      

	 	 	Name:	 	Joan C. Sonnen
	 	 	Title:	 	Vice President
	

 	
 	
AGENTS AND COMBINED LENDERS
	
 	
 	
JPMORGAN CHASE BANK, successor to The Chase Manhattan Bank, as Global Administrative Agent and as a U.S. Lender
	

 	
 	

By:	
 	

/s/  ROBERT C. MERTENSOTTO      

	 	 	Name:	 	Robert C. Mertensotto
	 	 	Title:	 	Managing Director
	

 	
 	
BANK OF AMERICA, N.A., as U.S. Syndication Agent and as a U.S. Lender
	

 	
 	

By:	
 	

/s/  RICHARD L. STEIN      

	 	 	Name:	 	Richard L. Stein
	 	 	Title:	 	Principal
	

 	
 	
CITIBANK, N.A., as U.S. Documentation Agent and as a U.S. Lender
	

 	
 	

By:	
 	

/s/  DOUG WHIDDON      

	 	 	Name:	 	Douglas Whiddon
	 	 	Title:	 	Attorney-in-Fact
	 	 	 	 	 

S-1

 

	

 	
 	
BANK OF MONTREAL, as a U.S. Lender
	

 	
 	

By:	
 	

/s/  CAHAL B. CARMODY      

	 	 	Name:	 	Cahal B. Carmody
	 	 	Title:	 	Director
	

 	
 	
TORONTO DOMINION (TEXAS), INC., as a U.S. Lender
	

 	
 	

By:	
 	

/s/  DEBBIE A. GREENE      

	 	 	Name:	 	Debbie A. Greene
	 	 	Title:	 	Vice President
	

 	
 	
ABN AMRO BANK N.V., as a U.S. Lender
	

 	
 	

By:	
 	

/s/  FRANK R. RUSSO JR.      

	 	 	Name:	 	Frank R. Russo Jr.
	 	 	Title:	 	Group Vice President
	

 	
 	

By:	
 	

/s/  QUANDRA L. KELLEY      

	 	 	Name:	 	Quandra L. Kelley
	 	 	Title:	 	Assistant Vice President
	

 	
 	
BANK OF SCOTLAND, as a U.S. Lender
	

 	
 	

By:	
 	

/s/  ANNIE GLYNN      

	 	 	Name:	 	Annie Glynn
	 	 	Title:	 	Senior Vice President
	

 	
 	
BANK ONE, NA (Main Office Chicago), as a U.S. Lender
	

 	
 	

By:	
 	

/s/  J. SCOTT FOWLER      

	 	 	Name:	 	J. Scott Fowler
	 	 	Title:	 	Director, Capital Markets
	 	 	 	 	 

S-2

 

	

 	
 	
NORDEA BANK FINLAND, PLC, as a U.S. Lender
	

 	
 	

By:	
 	

/s/  ANNE ENGEN      

	 	 	Name:	 	Anne Engen
	 	 	Title:	 	Vice President
	

 	
 	

By:	
 	

/s/  ALISON BAS      

	 	 	Name:	 	Alison Bas
	 	 	Title:	 	Vice President
	

 	
 	
FORTIS CAPITAL CORP., as a U.S. Lender
	

 	
 	

By:	
 	

	 	 	Name:	 	 
	 	 	Title:	 	 
	

 	
 	

By:	
 	

	 	 	Name:	 	 
	 	 	Title:	 	 
	

 	
 	
U.S. BANK NATIONAL ASSOCIATION, as a U.S. Lender
	

 	
 	

By:	
 	

	 	 	Name:	 	 
	 	 	Title:	 	 
	

 	
 	
BNP PARIBAS, formerly Paribas, as a U.S. Lender
	

 	
 	

By:	
 	

/s/  BETSY JOCHER      

	 	 	Name:	 	Betsy Jocher
	 	 	Title:	 	Vice President
	

 	
 	

By:	
 	

/s/  POLLY SCHOTT      

	 	 	Name:	 	Polly Schott
	 	 	Title:	 	Vice President
	 	 	 	 	 

S-3

 

	

 	
 	
CREDIT AGRICOLE INDOSUEZ, as a U.S. Lender
	

 	
 	

By:	
 	

/s/  PAUL A. DYTRYCH      

	 	 	Name:	 	Paul A. Dytrych
	 	 	Title:	 	Vice President, Sr. Relationship Manager
	

 	
 	

By:	
 	

/s/  PHILLIP J. SALTER      

	 	 	Name:	 	Phillip J. Salter
	 	 	Title:	 	Vice President, Sr. Relationship Manager
	

 	
 	
CREDIT SUISSE FIRST BOSTON, as a U.S. Lender
	

 	
 	

By:	
 	

/s/  S. WILLIAM FOX      

	 	 	Name:	 	S. William Fox
	 	 	Title:	 	Director
	

 	
 	

By:	
 	

/s/  IAN W. NALITT      

	 	 	Name:	 	Ian W. Nalitt
	 	 	Title:	 	Associate
	

 	
 	
GENERAL ELECTRIC CAPITAL CORPORATION as a U.S. Lender
	

 	
 	

By:	
 	

	 	 	Name:	 	 
	 	 	Title:	 	 
	

 	
 	
MIZUHO CORPORATE BANK, formerly The Fuji Bank, Limited, as a U.S. Lender
	

 	
 	
MIZUHO CORPORATE BANK, formerly The Industrial Bank of Japan, Limited, New York Branch, as a U.S. Lender
	

 	
 	

By:	
 	

	 	 	Name:	 	 
	 	 	Title:	 	 
	

 	
 	
THE BANK OF NEW YORK, as a U.S. Lender
	

 	
 	

By:	
 	

/s/  PETER W. KELLER      

	 	 	Name:	 	Peter W. Keller
	 	 	Title:	 	Vice President
	 	 	 	 	 

S-4

 

	

 	
 	
HIBERNIA NATIONAL BANK, as a U.S. Lender
	

 	
 	

By:	
 	

/s/  D. MAHONEY      

	 	 	Name:	 	Daria Mahoney
	 	 	Title:	 	Vice President
	

 	
 	
UFJ BANK, formerly known as The Sanwa Bank, Limited, as a U.S. Lender
	

 	
 	

By:	
 	

/s/  CLYDE L. REDFORD      

	 	 	Name:	 	Clyde L. Redford
	 	 	Title:	 	Senior Vice President
	

 	
 	
SOCIETE GENERALE, SOUTHWEST AGENCY, as a U.S. Lender
	

 	
 	

By:	
 	

/s/  SPENCER N. SMITH      

	 	 	Name:	 	Spencer N. Smith
	 	 	Title:	 	Vice President
	

 	
 	
ING CAPITAL LLC, as a U.S. Lender
	

 	
 	

By:	
 	

/s/  RONALD SCHERPENHUIJSEN ROM      

	 	 	Name:	 	Ronald Scherpenhuijsen Rom
	 	 	Title:	 	Managing Director
	

 	
 	
COMERICA BANK—TEXAS, as a U.S. Lender
	

 	
 	

By:	
 	

/s/  THOMAS G. RAJAN      

	 	 	Name:	 	Thomas G. Rajan
	 	 	Title:	 	Vice President
	

 	
 	
J.P. MORGAN BANK CANADA, successor to The Chase Manhattan Bank of Canada, as Canadian Administrative Agent
	

 	
 	

By:	
 	

/s/  D. MCDONALD      

	 	 	Name:	 	Drew McDonald
	 	 	Title:	 	Vice President
	 	 	 	 	 

S-5

 

	

 	
 	
JPMORGAN CHASE BANK, TORONTO BRANCH, as a Canadian Lender
	

 	
 	

By:	
 	

/s/  D. MCDONALD      

	 	 	Name:	 	Drew McDonald
	 	 	Title:	 	Vice President
	

 	
 	
BANK OF MONTREAL, as Canadian Syndication Agent and as a Canadian Lender
	

 	
 	

By:	
 	

/s/  J.B. WHITMORE      

	 	 	Name:	 	James B. Whitmore
	 	 	Title:	 	Managing Director
	

 	
 	
THE TORONTO-DOMINION BANK, as Canadian Documentation Agent and as a Canadian Lender
	

 	
 	

By:	
 	

/s/  D. BRITO      

	 	 	Name:	 	Debbi L. Brito
	 	 	Title:	 	Asst. Mgr., Credit Administration & Compliance
	

 	
 	
BANK OF AMERICA, N.A., Canada Branch, as a Canadian Lender
	

 	
 	

By:	
 	

	 	 	Name:	 	 
	 	 	Title:	 	 
	

 	
 	
WASHINGTON MUTUAL BANK, FA, as a U.S. Lender
	

 	
 	

By:	
 	

/s/  DAVID W. PHILLIPS      

	 	 	Name:	 	David W. Phillips
	 	 	Title:	 	Vice President

S-6

QuickLinks

Exhibit 10.1<Page>

                                                                    Exhibit 10.1

                                [IESI LETTERHEAD]

January 20, 2003

Mr. Thomas J. Fowler
1601 Elm Street, Suite 4000
Dallas, TX  75201

Mr. Fowler:

This letter serves as a confirmation of our offer of employment with IESI at our
corporate office in Haltom City, Texas. The following are the terms of this
offer:

1.    Your start date will be February 17, 2003 or another mutually agreed to
      date.

2.    Your job title will be Vice President, Secretary, and General Counsel
      reporting to Mickey Flood, President & CEO. This is a salaried, exempt
      position with a bi-weekly starting salary of $6,153.85. Salary reviews
      will be done annually starting in January 2004. Provided performance
      expectations are met and employment is continued, your base annual salary
      will be $180,000 in 2004 and $200,000 in 2005.

3.    In addition to your base salary, you will receive a car allowance of $700
      per month.

4.    During the course of your employment, you will be eligible for the same
      bonus structure as other similarly situated employees. This bonus
      structure is currently 25% of base salary based on IESI Corporation
      achieving the budgeted EBITDA margin. In 2003, you will be guaranteed a
      bonus of at least $20,000 to be paid in 2004 upon the completion of
      year-end financials.

5.    As a corporate management employee, you will be eligible to participate in
      the IESI Stock Option Plan. Option grants are reviewed annually and
      subject to IESI's Board of Directors approval. In 2003, you will be
      granted 2000 options.

6.    You will be eligible for benefits as outlined in the enclosed summary as
      may be modified herein. During your first calendar year of employment you
      shall be entitled to two (2) weeks of paid vacation, increasing to three
      (3) weeks, commencing on your second calendar year. Beginning on March 10,
      2003 through March 14, 2003 you will be permitted to take a previously
      planned vacation that will not be counted against your allocated two (2)
      weeks for the 2003 calendar year. As with other similarly situated
      employees, IESI will pay the cost of any medical and dental coverage that
      you elect for yourself and your family. The costs of your COBRA insurance,
      if any, will be reimbursed during your waiting period for IESI's health
      plans.

7.    IESI will reimburse you for any professional courses you are required to
      take to maintain both your C.P.A. status and law license.

8.    The attached 12-month Severance Agreement is made part of this offer.

9.    There are 26 pay periods in the year with the pay date being every other
      Friday and paying current.

<Page>

10.   This agreement does not constitute a contract of employment. Your
      employment with IESI is at-will and subject to termination by you or the
      company at any time.

11.   This offer is contingent upon your passing a drug test to be completed at
      a facility designated by IESI prior to your start date.

If you have any questions, please feel free to contact me at (817) 314-5800. I
look forward to working with you.

Sincerely,
/s/ Mickey Flood
Mickey Flood
President and C.E.O.

/jt

cc.  Joyce Thummel

Accepted: /s/ Thomas J. Fowler                                   2/17/03
         ---------------------------------------------------------------
          Signature                                              Date

                                      -2-

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