Document:

Prepared by MERRILL CORPORATION

QuickLinks
 -- Click here to rapidly navigate through this document

 
 

Exhibit 4.1    
  

 
 

NINTH AMENDMENT TO CREDIT AGREEMENT    
  

    THIS NINTH AMENDMENT TO CREDIT AGREEMENT (this "Amendment") is made as of the 23rd day of January, 2001, among KEMET CORPORATION, a Delaware corporation (the
"Borrower"); WACHOVIA BANK, N.A. as Agent (successor by merger to Wachovia Bank of Georgia, N.A. and hereinafter referred to as the "Agent") under the Credit Agreement (as herein defined) and the
BANKS named in the Credit Agreement. 

Background:  

    The Borrower, the Agent and the Banks have entered into a certain Credit Agreement dated as of October 18, 1996, as amended by a First Amendment to
Credit Agreement dated as of August 30, 1997, as further amended by a Second Amendment to Credit Agreement dated as of March 31, 1998, as further amended by a Third Amendment to Credit
Agreement dated as of September 9, 1998, as further amended by a Fourth Amendment to Credit Agreement dated as of December 31, 1998, as further amended by a Fifth Amendment to Credit
Agreement dated as of June 30, 1999, as further amended by a Sixth Amendment to Credit Agreement dated as of July 1, 1999, as further amended by a Seventh Amendment to Credit Agreement
dated as of June 1, 2000, and as further amended by an Eighth Amendment to Credit Agreement dated as of October 31, 2000 (as amended, the "Credit Agreement"). 

    The
Borrower, the Agent and the Banks wish to further amend the Credit Agreement in certain respects, as hereinafter provided. 

    NOW,
THEREFORE, the parties hereto agree as follows: 

    SECTION
1.  Definitions.  Capitalized terms used herein which are not otherwise defined herein shall have
the respective meanings assigned to them in the Credit Agreement. 

    SECTION
2.  Amendments.  

    (a) Section 5.06
of the Credit Agreement is hereby amended and restated in its entirety to read as follows: 

    SECTION
5.06  Loans or Advances.  Neither the Borrower nor any of its Subsidiaries shall make loans or
advances to any Person except: (i) loans or advances to employees not exceeding One Million Dollars ($1,000,000) in the aggregate outstanding made in the ordinary course of business and
consistent with practices existing on the Closing Date; (ii) deposits required by government agencies or public utilities; (iii) loans or advances to Subsidiaries which are not
Guarantors not exceeding Fifteen Million Dollars ($15,000,000) in the aggregate outstanding, (iv) loans or advances to Subsidiaries which are Guarantors or from such Guarantors to the Borrower,
(v) loans or advances by any Subsidiary to the Borrower, (vi) advances in the nature of deposits, progress payments and the like to suppliers and service providers for property and
services in the ordinary course of business, and (vii) other loans or advances constituting Permitted Investments; provided that after giving
effect to the making of any loans, advances or deposits permitted by clause (i), (ii), (iii), (iv), (v), (vi) or (vii) of this Section, no Default shall have occurred and be
continuing. 

    (b) Section 5.07
of the Credit Agreement is hereby amended and restated in its entirety to read as follows: 

    SECTION
5.07  Investments.  Neither the Borrower nor any of its Subsidiaries shall make Investments in
any Person except (a) as permitted by Section 5.06, (b) for Permitted Investments and Hedging Transactions, (c) that the Borrower and any Subsidiary shall be permitted to
acquire (whether through the organization of a Subsidiary or otherwise) all or any portion of the capital stock or securities of any Person engaged in the business or businesses substantially similar
to any 

business currently conducted by the Borrower or any Subsidiary or make capital contributions to any Wholly-Owned Subsidiary which is not a Guarantor, but only to the extent that (i) the cost of
any such acquisition or the amount of any such capital contribution, when aggregated with the total cost of all such acquisitions occurring after the Closing Date and the total amount of all such
capital contributions made after the Closing Date, does not exceed the Test Amount on the day such acquisition occurs or such capital contribution is made, and (ii) after giving effect to such
acquisition or capital contribution no Default shall exist, (d) Investments in Guarantors, (e) Guarantees of loans or advances to employees made in the ordinary course of business and
consistent with practices existing on the Closing Date, provided, that the aggregate outstanding principal amount of loans or advances so Guaranteed plus the aggregate principal amount of loans or
advances outstanding under Section 5.06(i) does not exceed One Million Dollars ($1,000,000) at any time, (f) Investments by Subsidiaries in the Borrower, (g) an Investment
by Borrower in an insurance company providing insurance to the Borrower, provided the amount of such Investment shall not exceed $50,000 in the aggregate and the percentage ownership of the Borrower
in such insurance company shall not exceed 10%, (h) Guarantees by the Borrower or a Subsidiary of an obligation of a Subsidiary which is not a Guarantor, provided that (A) the underlying
obligation of such Subsidiary is otherwise permitted under the terms of this Agreement, and (B) the
aggregate outstanding principal amount of obligations so Guaranteed shall not at any time exceed an amount equal to 10% of Consolidated Tangible Net Worth and (i) Investments not otherwise
permitted by the foregoing clauses (a), (b), (c), (d), (e), (f), (g) and (h) in an aggregate amount outstanding not exceeding $15,000,000. 

    SECTION
3.  Conditions to Effectiveness.  The effectiveness of this Amendment is subject to the following
conditions, unless the Banks waive such conditions: 

    (a) receipt
by the Agent from each of the parties hereto of either (i) a duly executed counterpart of this Amendment signed by such party or (ii) a
facsimile transmission stating that such party has duly executed a counterpart of this Amendment and sent such counterpart to the Agent; 

    (b) the
fact that the representations and warranties of the Borrower contained in Section 5 of this Amendment shall be true in all material respects on and as of
the date hereof. 

    SECTION
4.  No Other Amendment.  Except for the amendments set forth above, the text of the Credit
Agreement shall remain unchanged and in full force and effect. This Amendment is not intended to effect, nor shall it be construed as, a novation. The Credit Agreement and this Amendment shall be
construed together as a single instrument and any reference to the "Agreement" or any other defined term for the Credit Agreement in the Credit Agreement, the Notes or any certificate, instrument or
other document delivered pursuant thereto shall mean the Credit Agreement as amended hereby and as it may be amended, supplemented or otherwise modified hereafter. 

    SECTION
5.  Representations and Warranties.  The Borrower hereby represents and warrants in favor of the
Agent and the Banks as follows: 

    (a) Following
the effectiveness of this Amendment, no Default or Event of Default under the Credit Agreement has occurred and is continuing on the date hereof; 

    (b) The
Borrower has the corporate power and authority to enter into this Amendment and to do all acts and things as are required or contemplated hereunder to be done,
observed and performed by it; 

    (c) This
Amendment has been duly authorized, validly executed and delivered by one or more authorized officers of the Borrower and each of this Amendment and the Credit
Agreement as amended hereby constitutes the legal, valid and binding obligation of the Borrower enforceable against it in accordance with its terms; provided, that the enforceability of each of this
Amendment and the Credit Agreement as amended hereby is subject to general principles of equity and to bankruptcy, insolvency and similar laws affecting the enforcement of creditors' rights generally;
and 

    (d) The execution and delivery of this Amendment and the Borrower's performance hereunder and under the Credit Agreement as amended hereby do not and will not require
the consent or approval of any regulatory authority or governmental authority or agency having jurisdiction over the Borrower other than those which have already been obtained or given, nor be in
contravention of or in conflict with the Articles of Incorporation or Bylaws of the Borrower, or the provision of any statute, or any judgment, order or indenture, instrument, agreement or
undertaking, to which the Borrower is a party or by which its assets or properties are or may become bound. 

    SECTION
6.  Counterparts.  This Amendment may be executed in multiple counterparts, each of which shall
be deemed to be an original and all of which, taken together, shall constitute one and the same agreement. 

    SECTION
7.  Governing Law.  This Amendment shall be deemed to be made pursuant to the laws of the State
of Georgia with respect to agreements made and to be performed wholly in the State of Georgia and shall be construed, interpreted, performed and enforced in accordance therewith. 

    SECTION
8.  Effective Date.  This Amendment shall become effective as of the date first set forth above,
upon receipt by the Agent from the Borrower and the Required Banks of either a duly executed signature page from a counterpart of this Amendment or a facsimile transmission of a duly executed
signature page from a counterpart of this Amendment, signed by such party. 

    IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed under seal by their respective authorized officers as of the day and year first above written. 

	

 	

BORROWER:
	

 	

KEMET CORPORATION
	

 	

By:	

/s/ MICHAEL BOONE     [SEAL]
 Title: Treasurer and Director of Finance
	

 	

WACHOVIA BANK, N.A. (successor by merger to Wachovia Bank of Georgia, N.A. and Wachovia Bank of South Carolina, N.A. and formerly known as Wachovia Bank of North Carolina, N.A.),as Agent and as a Bank
	

 	

By:	

/s/ CHRISTOPHER C. FINCHER     [SEAL]
 Title: Senior Vice President
	

 	

ABN AMRO BANK N.V. ATLANTA AGENCY,

as Co-Agent and Bank
	

 	

By:	

/s/ RICHARD R. DACOSTA     [SEAL]
 Title: Group Vice President
	

 	

and
	

 	

By:	

/s/ NATALIE M. SMITH     [SEAL]
 Title: Vice President
	

 	

SUNTRUST BANK, ATLANTA
	

 	

By:	

/s/ NATHAN BICKFORD     [SEAL]
 Title: Assistant Vice President
	

 	

FIRST UNION NATIONAL BANK (formerly

known as First Union National Bank of

South Carolina)
	

 	

By:	

/s/ JEFFERY R. STOTTLER     [SEAL]
 Title: Vice President
	

 	

BANK OF AMERICA, N.A.
	

 	

By:	

/s/ KEVIN MCMAHON   [SEAL]
 Title: Managing Director

QuickLinks

Exhibit 4.1

NINTH AMENDMENT TO CREDIT AGREEMENT<Page>

                                                                   Exhibit 10.19

                      CALIFORNIA COMMUNITY BANCSHARES, INC.

                            EXECUTIVE INCENTIVE PLAN

PURPOSE             California Community Bancshares, Inc. ("CCB") and each of
                    its subsidiary banks (the "Banks") are the sponsor of this
                    incentive plan (the "Plan"). CCB and the Banks
                    (collectively, the "Company") have designed the Plan to
                    focus the Company's executive team on achieving the annual
                    business plan for the Company in 2001. The Plan provides
                    aggressive award opportunities and is intended to provide
                    significant rewards to the Company's executive team for
                    exceptional corporate performance.

APPROVAL
AND
ADMINISTRATION      The Plan has been approved for 2001 by the Boards of
                    directors of CCB and the Banks and will be administered by
                    the Incentive Plan Committee (the "Committee"), which is
                    comprised of the Chief Executive Officers of CCB and of each
                    Bank. The Committee will recommend Plan Participants; Plan
                    Performance Measures; Performance Measure Weights;
                    Achievement Levels and corresponding Award Opportunities;
                    and the Financial Thresholds (each as defined herein) to the
                    Boards of Directors of CCB and of each Bank for their
                    approval as early in the Plan Year as possible. At the end
                    of the Plan Year, the Committee will review achievements
                    against Performance Measures and recommend Awards (as
                    defined herein) to the Boards of Directors of CCB and the
                    Banks.

                    The Board of Directors of CCB will consider the
                    recommendations of the Committee and input of the Boards of
                    Directors of the Banks with respect thereto and will make
                    the final determination of Awards under the Plan in its sole
                    discretion. The Board of Directors of CCB has the sole and
                    absolute power and authority to make all factual
                    determinations, construe and interpret terms of the Plan and
                    make eligibility and Award determinations in accordance with
                    its interpretation of the Plan.

PLAN YEAR           The Plan is an annual plan adopted for the 2001 calendar
                    year.

<Page>

ELIGIBILITY         All Senior Executives (defined as all Chief Executive
                    Officers ("CEO's"), Presidents, Chief Financial Officers
                    ("CFO's"), Chief Lending Officers ("CLO's"), Retail Banking
                    Officers ("RBO's") and Chief Relationship Banking Officers
                    ("CRBO's") of CCB and/or the Banks, as well as the CCB Chief
                    Operating Officer ("COO") and CCB HR Director) are eligible
                    for participation in the Plan. The Committee will review
                    those eligible and recommend participants to the Boards of
                    Directors of CCB and the Banks for their approval. The
                    Committee may recommend other executives for participation
                    in the Plan on an exception basis for approval by the CCB
                    Board of Directors.

PARTICIPATION       An individual who has been selected for participation in the
                    Plan by the Committee and approved by the Boards of
                    Directors of CCB and the Banks is a Participant.

FINANCIAL
THRESHOLDS          In order for Awards to be made under the Plan, CCB and each
                    Bank must have reached their respective Financial
                    Thresholds. The Committee will recommend this level of
                    financial performance for approval by the CCB Board of
                    Directors. For 2001, the Financial Thresholds for CCB and
                    each Bank is as follows:

                    California Community Bancshares, Inc. - Year 2001 cash
                    earnings of $10,463,000

                    Placer Sierra Bank - Year 2001 cash earnings of $10,119,000

                    Bank of Orange County - Year 2001 cash earnings of
                    $3,470,000

PERFORMANCE
MEASURES            The Committee will select one or more Performance Measures
                    for CCB and each Bank under the Plan. All Performance
                    Measures will be key indicators of financial performance.

                    In addition, the Committee will select one or more Personal
                    Performance Measures for each Participant in the Plan.

                    Each Performance Measure will operate independently, i.e. it
                    is possible for one Performance Measure to generate an award
                    and not the other; likewise, it is possible for one
                    Performance Measure to be achieved at a higher level than
                    the other. Performance Measures will be individually
                    weighted, i.e. one Performance Measure may be counted more
                    heavily in calculating Awards than the other. The

                                       2
<Page>

                    Committee will establish weights for each Performance
                    Measure at the beginning of the Plan Year for approval by
                    the CCB Board of Directors. Achievement Levels will be
                    established for each Performance Measure along with
                    corresponding Award Opportunities.

                    For 2001 the Committee has selected Year 2001 cash earnings
                    as the Performance Measure for CCB and for each Bank.

ACHIEVEMENT
LEVELS AND
OPPORTUNITIES       Achievement Levels and Award Opportunities based on
                    performance by CCB and each Bank for 2001 have been approved
                    as shown on Exhibits A, B and C hereto and are expressed as
                    a percentage of base salary. This assumes that cash earnings
                    are achieved at various levels for 2001 and illustrates the
                    maximum Award Opportunity at each specified Achievement
                    Level. Mathematical interpolation will be used to calculate
                    Awards for Achievement between the levels established as
                    shown on Exhibits A, B and C.

                    In addition, Individual Performance Award Opportunities
                    based on achievement of Personal Performance Measures have
                    been approved as shown on Exhibit D hereto and are also
                    expressed as a percentage of base salary. Receipt of maximum
                    Awards as set forth on Exhibit D assumes that the individual
                    achieves the highest level of Personal Performance Measures.

AWARDS              Awards under the Plan will be determined by the Committee
                    based upon achievement of Performance Measures and will be
                    recommended to the Boards of Directors of CCB and the Banks.
                    The Board of Directors of CCB will consider the
                    recommendations of the Committee and input of the Boards of
                    Directors of the Banks with respect thereto and will make
                    the final determination of Awards under the Plan in its sole
                    discretion.

                    For purposes of the Plan, base salary paid during the Plan
                    Year will be used to calculate Awards. This will include
                    base salary and annual leave pay but will not include any
                    other kind of payment.

                    Awards for individuals who are Participants for less than a
                    full Plan Year will be prorated using Participants' actual
                    base salary paid during the time of participation during the
                    Plan Year. Awards for Participants who leave CCB or one of
                    the Banks during a Plan Year due to retirement, total and
                    permanent disability, death or termination of employment

                                       3
<Page>

                    other than for cause will be prorated using the same method.

                    To be eligible to receive an Award under the Plan, a
                    Participant must have a performance level of "Achieves
                    Expectations" or better for 2001.

ADJUSTMENTS         Performance Measures, Achievement Levels and Award
                    Opportunities may be adjusted during the Plan Year only upon
                    approval by the CCB Board of Directors, as it deems
                    appropriate. It is anticipated that such adjustments will be
                    made infrequently and only in the most extraordinary
                    circumstances.

                    Because the Plan has aggressive Award Opportunities, some
                    adjustments may need to be made to Awards to recognize the
                    fact that some Participants' base salaries may be currently
                    above or below market. In such cases, the Committee may
                    reduce or increase an Award, as it deems appropriate, to
                    achieve a reasonable level of total compensation for each
                    Participant. All adjustments are subject to approval by the
                    Board of Directors.

PAYMENT OF
AWARDS              Awards will be paid as soon as administratively feasible,
                    after review of Performance Measure Achievement Levels and
                    approval by the Board of Directors. To be eligible for Award
                    payment, a Participant must be an employee of the Company on
                    the date that Awards are paid or have left the Company
                    during the Plan Year due to retirement, total and permanent
                    disability, death or termination of employment other than
                    for cause.

                    Awards will be made through the payroll system, minus
                    legally required and authorized deductions. Awards under the
                    Plan will be considered eligible compensation or not as
                    defined by each specific employee benefit plan for purposes
                    of employee benefit calculations.

NO RIGHT OF
ASSIGNMENT          No right or interest of any Participant in the Plan is
                    assignable or transferable. In the event of a Participant's
                    death, payment of any earned but unpaid Awards will be made
                    to the Participant's legal successor, if not prohibited by
                    law.

NO RIGHT OF
EMPLOYMENT          The Plan does not give any employee any right to continue in
                    the employment of CCB or of any Bank and does not constitute
                    any contract or agreement of employment or interfere in any
                    way with the right CCB or any Bank has to

                                       4
<Page>

                    terminate such person's employment. CCB and each Bank is an
                    "at will" employer and as such, can terminate an employment
                    relationship between itself and any of its employees at
                    will, with or without cause.

AMENDMENT OR
TERMINATION
OF THE PLAN         CCB reserves the right to change, amend, modify, suspend,
                    continue or terminate all or any part of the Plan either in
                    an individual case or in general, at any time without
                    notice.

                                       5
<Page>

                      CALIFORNIA COMMUNITY BANCSHARES, INC.
                            EXECUTIVE INCENTIVE PLAN

                                    EXHIBIT A

                             CCB Achievement Levels
                           (Net of All Award Amounts)

<Table>
<Caption>
ACHIEVEMENT LEVELS                                              FINANCIAL THRESHOLDS

<S>                                                     <C>               <C>              <C>
Year 2001 cash earnings:                                $10,463,00        $10,832,000      $11,210,000

Award Opportunities: (% of Base Salary)

         Group A (CCB CEO, CFO)                            18.0%              30.0%            42.0%
         Group B (CCB COO)                                  9.0%              15.0%            21.0%
         Group C (CCB HR Director)                         15.0%              25.0%            35.0%
         Group D (PSB & BOC
           CCO, CFO, CRBO & RBO)                            7.5%              12.5%            17.5%
</Table>

                                       6
<Page>

                            EXECUTIVE INCENTIVE PLAN

                                    EXHIBIT B

                    Bank of Orange County Achievement Levels
                           (Net of All Award Amounts)

<Table>
<Caption>
ACHIEVEMENT LEVELS                                            FINANCIAL THRESHOLDS
<S>                                                      <C>               <C>              <C>
Year 2001 Cash Earnings                                  $3,470,000        $3,581,000       $3,692,000

Award Opportunities (% of Base Salary)

          Group B (CEO)                                      9.0%             15.0%            21.0%
          Group D (CCO and CFO)                              7.5%             12.5%            17.5%
</Table>

                                       7
<Page>

                            EXECUTIVE INCENTIVE PLAN

                                    EXHIBIT C

                      Placer Sierra Bank Achievement Levels
                           (Net of All Award Amounts)

<Table>
<Caption>
ACHIEVEMENT LEVELS                                            FINANCIAL THRESHOLDS
<S>                                                      <C>               <C>              <C>
Year 2001 Cash Earnings                                  $10,119,000       $10,377,000      $10,635,000

Award Opportunity (% of Base Salary)

        Group B (COO)                                        9.0%             15.0%            21.0%
        Group D (CCO, CFO, CRBO, RBO)                        7.5%             12.5%            17.5%
</Table>

                                       8
<Page>

                            EXECUTIVE INCENTIVE PLAN

                                    EXHIBIT D

                   Individual Performance Award Opportunities

                   CCB CEO                              18.0%

                   CCB CFO                              18.0%

                   CCB COO                              18.0%

                   BOC CEO                              18.0%

                   Regional President                   15.0%

                   Chief Credit Officers                15.0%

                   Bank CFO's                           15.0%

                   Chief Relationship Banking Officer   15.0%

                   Retail Banking Officer               15.0%

                   CCB HR Director                      15.0%

                                       9

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00028-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00028-of-00352.parquet"}]]