Document:

EX-10.1

Exhibit 10.1

Cumulus Media Inc.

2008 Equity Incentive Plan

 

Restricted Stock Agreement

 

Award No. ___

     This Restricted Stock Agreement (“Agreement”) is made and entered into as of the date
of grant set forth below (the “Date of Grant”) by and between Cumulus Media Inc., a
Delaware corporation (the “Company”), and the participant named below
(“Participant”). Capitalized terms not defined herein shall have the meanings ascribed to
them in the Company’s 2008 Equity Incentive Plan, as may be amended and/or restated from time to
time (the “Plan”), a summary plan description of which is attached hereto as
Exhibit A. You should carefully review these documents, and consult with your personal
financial advisor, in order to fully understand the implications of this Agreement, including your
tax alternatives and their consequences.

     By executing this Agreement, you agree to be bound by all of the Plan’s terms and conditions
as if they had been set out verbatim in this Agreement. In addition, you recognize and agree that
all determinations, interpretations, or other actions respecting the Plan and this Agreement will
be made by the Board of Directors of the Company (the “Board”) or the Compensation
Committee of the Board pursuant to Section 13 of the Plan, and that such determinations,
interpretations or other actions are final, conclusive and binding upon all parties, including you,
your heirs, and your representatives. Capitalized terms used and not otherwise defined herein shall
have the meanings given in the Plan.

	1.	 	Specific Terms. This Agreement shall be controlled by and interpreted according to
the following terms:

	 	 	 	 	 	 	 
	Name of Participant:
	 	[NAME]	 	 	 	 
	 
	 	 	 	 	 	 
	Number of Shares of Restricted Stock:
	 	       
          
          
        	 	 	 	 
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	Purchase Price per Share:
	 	$	 	 	 	 
	 
	 	 	 	 	 	 
	Date of Grant:
	 	[DATE OF GRANT]	 	 	 	 
	 
	Vesting Schedule:
	 	 	 	 	 	 

	 	 	 
	Installment	 	 
	(percentage of number of Shares of Restricted	 	 
	Stock subject to this Agreement)	 	Installment Vesting Date
	50%
	 	second anniversary of Date of Grant
	25%
	 	third anniversary of Date of Grant
	25%
	 	fourth anniversary of Date of Grant

	 	 	 	 	 
	Additional Variable Terms:

	 	[Insert if applicable.]
	 	 

 

 

	2.	 	Grant of Restricted Stock. The Company hereby grants to Participant an award of
Restricted Stock (the “Restricted Stock”) as set forth above, at the Purchase Price
per Share set forth above (the “Purchase Price”), subject to all of the terms and
conditions set forth in this Agreement and the Plan.
	 
	3.	 	Vesting Schedule. Subject to Section 3 below, the Restricted Stock awarded by this
Agreement will vest in the Participant according to the vesting schedule specified in Section
1 of this Agreement.
	 
	4.	 	Forfeiture. Unless otherwise determined by the Board or as otherwise provided by an
employment agreement between you and the Company, notwithstanding any contrary provision of
this Agreement, if the Participant’s continuous service with the Company is terminated (by
either the Company or the Participant), for any reason or no reason, prior to any of the
Restricted Stock becoming nonforfeitable, the forfeitable Restricted Stock awarded by this
Agreement will thereupon be forfeited at no cost to the Company.
	 
	5.	 	Issuance of Restricted Stock. The Restricted Stock shall be registered in the
Participant’s name and shall be fully paid an nonassessable, and shall be endorsed with an
appropriate legend referring to the restrictions set forth in this Agreement. During the
period in which the restrictions on transfer and risk of forfeiture provided in Section 4 and
7 hereof are in effect, any certificates representing the Restricted Stock shall be retained
by the Company, together with the accompanying stock power endorsed in blank by the
Participant.
	 
	6.	 	Rights as a Stockholder. Except as otherwise provided herein, from and after the Date
of Grant, the Participant shall have all of the rights of a stockholder with respect to the
Restricted Stock covered by this Agreement, including the right to vote such Restricted Stock
and receive any dividends that may be paid thereon; provided, however, that
such Restricted Stock, and any additional Common Shares that the Participant may become
entitled to receive pursuant a share dividend, a merger, consolidation, separation or
reorganization or any other change in the capital structure of the Company, shall be subject
to the same restrictions as the Restricted Stock covered by this Agreement.
	 
	7.	 	Transfer. The Restricted Stock and the rights and privileges conferred hereby may not
be assigned, exchanged, pledged, sold, transferred or otherwise disposed of by the
Participant, except to the Company, until the Restricted Stock has become nonforfeitable in
accordance with Section 3 hereof; provided, however, that the Participant’s
rights with respect to such Restricted Stock may be transferred by will or pursuant to the
laws of descent and distribution. Any purported transfer in violations of the provisions of
this Section 7 shall be null and void, and the purported transferee shall obtain no rights
with respect to such Restricted Stock.
	 
	8.	 	Occurrence of a Change in Control. Unless otherwise determined by the Board or as
otherwise provided by an employment agreement between you and the Company, the vesting of the
Restricted Stock shall not be accelerated as a result of a Change in Control.

 

 

	9.	 	Adjustments. This award of Restricted Stock may be adjusted or terminated in any
manner contemplated by the Plan or this Agreement.
	 
	10.	 	Withholding Taxes. To the extent that the Company is required to withhold federal,
state, local or foreign taxes in connection with any delivery of Common Shares to the
Participant, and the amounts available to the Company for such withholding are insufficient,
it shall be a condition to the receipt of such delivery that the Participant make arrangements
satisfactory to the Company for payment of the balance of such taxes required to be withheld.
In the event the Board or an employment agreement between you and the Company permits you to
elect that all or any part of such withholding requirement be satisfied by retention by the
Company of a portion of the Common Shares delivered to the Participant, the shares so retained
shall be credited against such withholding requirement at the Market Value per Share on the
date of such delivery. In no event, however, shall the Company accept Common Shares for
payment of taxes in excess of required tax withholding rates, except that, unless otherwise
determined by the Committee at any time, the Participant may surrender Common Shares owned for
more than six months to satisfy any tax obligations resulting from any such transaction.
	 
	11.	 	Right to Terminate Employment. No provision of this Agreement shall limit in any way
whatsoever any right that the Company may otherwise have to terminate the employment of the
Participant at any time.
	 
	12.	 	Notices. Any notice, payment or communication required or permitted to be given by
any provision of this Agreement shall be in writing and shall be delivered personally or sent
by certified mail, return receipt requested, addressed as follows: (i) if to the Company, at
the address set forth on the signature page hereto (attention: Chief Financial Officer); (ii)
if to you, at the address set forth below your signature on the signature page hereto. Each
party may, from time to time, by written notice to the other party hereto, specify a new
address for delivery of notices to such party hereunder. Any such notice shall be deemed to be
delivered, given, and received for all purposes as of the date such notice is received or
properly mailed.
	 
	13.	 	Binding Effect. Except as otherwise provided in this Agreement or in the Plan, every
covenant, term, and provision of this Agreement shall be binding upon and inure to the benefit
of the parties hereto and their respective heirs, legatees, legal representatives, successors,
transferees, and assigns.
	 
	14.	 	Modifications. This Agreement may be modified or amended at any time by the Board,
provided that your consent must be obtained for any modification that adversely alters or
impairs any rights or obligations under this Agreement, unless there is an express provision
in the Plan permitting the Board to act unilaterally to make the modification.
	 
	15.	 	Headings. Section and other headings contained in this Agreement are for reference
purposes only and are not intended to describe, interpret, define or limit the scope or intent
of this Agreement or any provision hereof.

2

 

	16.	 	Severability. Every provision of this Agreement and of the Plan is intended to be
severable. If any term hereof is illegal or invalid for any reason, such illegality or
invalidity shall not affect the validity or legality of the remaining terms of this Agreement.
	 
	17.	 	Governing Law. The laws of the State of Georgia shall govern the validity of this
Agreement, the construction of its terms, and the interpretation of the rights and duties of
the parties hereto.
	 
	18.	 	Compliance with Law. The Company shall make reasonable efforts to comply with all
applicable federal and state securities laws; provided, however,
notwithstanding any other provision of this Agreement, the Company shall not be obligated to
issue any of the Common Shares covered by this Agreement if the issuance thereof would result
in violation of any such law. To the extent that the Georgia Securities Act of 1973, as
amended, shall be applicable to this Agreement, the Company shall not be obligated to issue
any of the Common Shares or other securities covered by this agreement unless such Common
Shares are (a) exempt from registration thereunder, (b) the subject of a transaction that is
exempt from compliance therewith, (c) registered by description or qualification thereunder or
(d) the subject of a transaction that shall have been registered by description thereunder.
	 
	19.	 	Compliance with Section 409A of the Code. To the extent applicable, it is intended
that this Agreement and the Plan comply with the provisions of Section 409A of the Code, so
that the income inclusion provisions of Section 409A(a)(1) do not apply to you. This Agreement
and the Plan shall be administered in a manner consistent with this intent.
	 
	20.	 	Counterparts. This Agreement may be executed by the parties hereto in separate
counterparts, each of which when so executed and delivered shall be an original, but all such
counterparts shall together constitute one and the same instrument.
	 
	21.	 	Data Protection. By your signature below, you consent that the Company may process
your personal data as provided herein (“Data”) exclusively for the purpose of
performing this Agreement, in particular in connection with the Restricted Stock awarded to
you. For this purpose the Data may also be disclosed to and processed by companies outside the
Company, e.g., banks involved.

[Signatures appear on following page]

3

 

          BY YOUR SIGNATURE BELOW, along with the signature of the Company’s representative, you and the
Company agree that this award of Restricted Stock is awarded under and governed by the terms and
conditions of this Agreement and the Plan.

Cumulus Media Inc.

3280 Peachtree Road, NW

Suite 2300

Atlanta, Georgia 30305

	 	 	 	 	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

     The undersigned Participant hereby accepts the terms of this Agreement and the Plan.

	 	 	 	 	 
	 	 	 
	 	By:  	
 	 
	 	 	 	 
	 	Address:EX-10.1

Exhibit 10.1

AMENDMENT NO. 3 TO

AMENDED AND RESTATED CREDIT AGREEMENT

     THIS AMENDMENT NO. 3 TO AMENDED AND RESTATED CREDIT AGREEMENT, dated as of March 2, 2009,
amends and supplements the Amended and Restated Credit Agreement dated as of June 9, 2008, as
amended (as so amended, the “Credit Agreement”) among ANCHOR BANCORP WISCONSIN INC., a Wisconsin
corporation (the “Borrower”), the financial institutions from time to time party thereto
(individually a “Lender” and collectively the “Lenders”) and U.S. BANK NATIONAL ASSOCIATION, a
national banking association, as administrative agent for the Lenders (in such capacity, the
“Agent”).

RECITALS

     The parties acknowledge the following (capitalized terms used in this Amendment No. 3 and not
defined herein have the meanings ascribed thereto in the Credit Agreement):

     A. The Borrower is indebted to the Lenders under the Credit Agreement. As of the date of this
Amendment No. 3, the aggregate outstanding principal amount of such indebtedness is $116,300,000.

     B. To secure the indebtedness and obligations of the Borrower to the Agent and the Lenders,
the Borrower granted the Agent a security interest in all of the issued and outstanding stock of
AnchorBank, fsb (the “Subsidiary Bank”) pursuant to the Pledge Agreement dated as of June 9, 2008
(the “Pledge Agreement”) from the Borrower to the Agent.

     C. The Borrower is unable to make the principal payment on the Notes required by the scheduled
reduction in the Total Revolving Loan Commitment on this date (the “Principal Reduction Failure”).

     D. The Borrower has requested that the Agent and the Lenders forbear from exercising their
rights and remedies under the Credit Agreement and the Pledge Agreement arising from the Principal
Reduction Failure. On the terms and subject to the conditions set forth below, the Agent and the
Lenders are prepared to forbear from exercising such rights and remedies for a limited period of
time as set forth below.

AGREEMENTS

     In consideration of the promises and agreements set forth in the Credit Agreement, as amended
and supplemented hereby, the Borrower and the Lenders agree as follows:

 

 

     1. Definitions and References. Upon the execution and delivery of this Amendment No.
3 to Amended and Restated Credit Agreement (“Amendment No. 3”) by the Borrower, the Lenders and the
Agent and the satisfaction of the conditions listed in Section 5 below, each reference to the
Credit Agreement contained in the Credit Agreement, the Pledge Agreement and any other document,
instrument or agreement relating thereto means the Credit Agreement as amended by this Amendment
No. 3. This Amendment No. 3 is a Loan Document.

     2. Acknowledgements by the Borrower. The Borrower acknowledges, represents and agrees
that:

          (a) The Recitals are true and correct.

          (b) Neither the Principal Reduction Failure nor any other Event of Default which has occurred
and is continuing has been waived by the Lenders.

          (c) The Borrower has disclosed to the Agent and the Lenders each Event of Default existing on
the date of this Amendment No. 3.

          (d) As a result of the Principal Reduction Failure, the Majority Lenders would be entitled to
direct the Agent to accelerate the maturity of the Notes and demand immediate payment.

          (e) As a result of the Principal Reduction Failure, the Lenders have no obligation to make or
continue Loans to the Borrower.

          (f) To the extent required by the Loan Documents and applicable law, the Borrower has received
adequate and proper notice of the Principal Reduction Failure and the Borrower hereby waives its
right, if any, to any further notice thereof.

          (g) Neither this Amendment No. 3 nor any course of dealing between or among any of the parties
hereto is intended to operate, nor shall they be construed, as a waiver of any of the Principal
Reduction Failure or any other Event of Default, whether now existing or arising in the future, as
to which the Agent and the Lenders reserve all of their rights.

          (h) Except as expressly provided to the contrary herein, (i) all of the Agent and the Lenders’
rights and remedies available under the Loan Documents and at law and in equity remain unchanged
and available without restriction; (ii) the terms of the Loan Documents remain unchanged and in
full force and effect and have not been amended, modified, or changed, whether orally or in
writing; and (iii) the obligations and duties of the Borrower to the Agent and the Lenders are not
released, impaired, diminished, or amended as a result of the

2

 

execution and delivery of this Amendment No. 3 or by any subsequent undertakings of the parties.

          (i) The principal of and accrued interest on the Notes, all fees and all other obligations and
liabilities of the Borrower to the Agent and the Lenders under the Loan Documents are due and owing
without offsets, deductions, counterclaims, or defenses of any kind or character whatsoever

          (j) The security interest of the Agent in the outstanding stock of the Subsidiary Bank
constitutes a valid, enforceable and perfected security interest as to which the Borrower has no
offsets, deductions, counterclaims, or defenses of any kind or character whatsoever.

          (k) The Loan Documents are valid, binding and enforceable against the Borrower in accordance
with their respective terms, and the Borrower hereby ratifies and reaffirms its obligations under
each of the Loan Documents. There have been no modifications to any of the Loan Documents except
pursuant to a writing signed by the Borrower, the Agent and each Lender.

          (l) The Agent and each Lender has (i) fully and timely performed all of its obligations and
duties to the Borrower under the Loan Documents; (ii) no obligation to (nor has it made any
representation of any kind that it will) extend any financial accommodations to the Borrower;
(iii) not made any agreements, representations, or commitments, other than those expressly set
forth in the Loan Documents; and (iv) acted reasonably, in good faith, and appropriately under the
circumstances, and within the Agent’s and each Lender’s rights under the Loan Documents and
applicable law, in all actions taken by the Agent and each Lender with respect to the Borrower.

          (m) The purpose of this Amendment No. 3 is to provide the Borrower an additional period of
time to obtain funds to pay in full all of the obligations and liabilities of the Borrower to the
Agent and the Lenders.

          (n) The forbearance by the Agent and the Lenders provided herein was requested by the Borrower
and shall result in a direct and substantial benefit to the Borrower.

     3. Forbearance by the Agent and the Lenders.

          (a) The Agent and the Lenders agree to forbear from exercising their rights and remedies
against the Borrower until the earliest to occur of the following: (i) the occurrence of any Event
of Default other than those existing on the date of this Amendment No. 3 and disclosed by the
Borrower to the Lenders or (ii) the Maturity Date. The period of time from the date hereof until the earlier to

3

 

occur of (i) or (ii) above is referred to as the “Forbearance Period.” The Forbearance Period shall
terminate immediately and automatically, as provided above, without notice to or action by any
party.

          (b) Upon the termination of the Forbearance Period, any obligation of the Agent or the Lenders
to forbear from the exercise of its rights and remedies as provided in section 3(a) shall terminate
automatically and immediately without notice or further action and the Agent and the Lenders shall
be free to exercise immediately against the Borrower any and all of their rights and remedies,
including, without limitation, any rights and remedies under the Loan Documents or applicable law.

          (c) Notwithstanding the agreement to forbear as set forth herein, the Agent may at any time,
in its sole discretion, take any action reasonably necessary to preserve or protect its interest in
the stock of the Subsidiary Bank against the actions of the Borrower or any third party (including
any executions, levies, injunctions, conversion, theft, commingling, waste, misuse, neglect,
misappropriation, fraud, or any of the like) without notice to or the consent of any party.

          (d) The Agent and the Lenders have no obligation to, have not agreed to, nor have they made
any representation that they will, and this Amendment No. 3 shall not constitute an agreement by or
require the Agent or the Lenders to, renew or extend the Forbearance Period, grant additional
forbearance periods, extend the time for payment or make any Loans or otherwise extend credit to
the Borrower.

     4. Amendments to Credit Agreement.

          (a) Clause (a) of the defined term “Base Rate” in Section 1.1 of the Credit Agreement is
amended to read: “(a) 6% per annum”.

          (b) The defined term “Maturity Date” in Section 1.1 of the Credit Agreement is amended by
deleting the date “December 31, 2009” and replacing it with the date “May 29, 2009”.

          (c) Notwithstanding any provision in the Credit Agreement to the contrary, the Lenders have no
obligation to make any additional Loans to the Borrower and amounts repaid may not be reborrowed.

          (d) Section 2.3(a) of the Credit Agreement is amended in its entirety to read as follows:

          (a) Interest Rate. The entire unpaid principal balance of the Loans
outstanding from time to time shall bear interest at an annual rate

4

 

equal to the Base Rate plus 2%, and such rate shall change on each day on which the Base Rate changes. The
Agent’s internal records of applicable interest rates shall be determinative in the absence
of manifest error.

          (e) Section 2.6(a) of the Credit Agreement is deleted and replaced with the following:

               (a) Reserved.

          (f) Section 2.8(a) of the Credit Agreement is revised to read as follows:

          (a) Mandatory. No later than one Business Day after the receipt of Net
Proceeds of Additional Capital, the Borrower shall prepay the Loans by an amount equal to
the Net Proceeds of Additional Capital so received; provided that if such Net Proceeds of
Additional Capital are received from the United States Department of the Treasury and the
terms of such investment prohibit the use of the investment proceeds to repay senior debt
such as the Loans, then no prepayment is required.

          (g) Section 2.10 of the Credit Agreement is deleted.

          (h) Section 4.11(m) of the Credit Agreement is amended to read as follows:

          (m) on the first and fifteenth day of each month a written progress report regarding
the status of the issuance of equity interests in the Borrower and such other information
as the Agent or any Lender may request, in form and substance satisfactory to the Agent.

          (i) Section 4.16 of the Credit Agreement is amended to read as follows:

     4.16 Additional Capital. The Borrower agrees to diligently continue its
efforts to raise additional capital (whether by a secondary public offering, a private
investment or the sale of assets) to provide funds to repay or prepay the Loans.

          (j) Section 4.20 of the Credit Agreement is created to read as follows:

     4.20 Escrow Deposit. The Borrower agrees to take such action as is necessary
in order that, no later than March 31, 2009, the Borrower receives proceeds from a loan
from the Subsidiary Bank in an amount sufficient to pay (a) the aggregate interest that
would accrue on the Notes

5

 

during the period from March 1, 2009 through December 31, 2009
(assuming the Base Rate is 6% per annum during such period) and (b) the aggregate dividends
required to be paid on the Borrower’s Fixed Rate Cumulative Preferred Stock, Series B
during such period. The Borrower agrees, no later than March 31, 2009, to deposit an
amount equal to clause (a) in the preceding sentence into an escrow account at the Agent
established pursuant to an escrow agreement satisfactory to the Agent and its counsel. The
satisfaction of these requirements does not create an obligation of any Lender to agree to
an extension of the Maturity Date. Each Lender may agree or not agree to any requested
extension of the Maturity Date in its sole and absolute discretion.

          (k) Section 4.21 of the Credit Agreement is created to read as follows:

     4.21 Future Discussions. SUBJECT IN ALL RESPECTS TO THE PROVISIONS OF SECTION
3 OF AMENDMENT NO. 3 TO THIS CREDIT AGREEMENT, the Borrower agrees that it will meet with
the Agent and the Lenders on or about April 15, 2009 (as specified by the Agent upon
reasonable advance notice) to discuss matters pertaining to any desirable amendments to the
Loan Documents including, without limitation, an extension of the Maturity Date, an
adjustment to the interest rate on the Notes and covenant revisions.

     5. Closing Conditions. This Amendment No. 3 shall become effective upon the execution
and delivery of this Amendment No. 3 by the Borrower, the Lenders and the Agent, and the receipt by
the Agent of the following

          (a) copies, certified to be accurate and complete by the Secretary or Assistant Secretary of
the Borrower, of a resolution of the Board of Directors of the Borrower authorizing the execution
and delivery of this Amendment No. 3;

          (b) a certificate of the President or Vice President of the Borrower to the effect that the
representations and warranties of the Borrower set forth in the Credit Agreement and the other Loan
Documents are accurate and complete in all material respects and that no Default or Event of
Default exists other than those as disclosed to the Lenders;

          (c) an amendment fee of $140,750, for the ratable account of the Lenders, which fee shall be
fully earned and nonrefundable upon receipt; and

          (d) such other documents and instruments relating hereto as the Agent shall reasonably
request.

6

 

     6. Representations and Warranties; No Default.

          (a) The execution and delivery of this Amendment No. 3 has been duly authorized by all
necessary corporate action on the part of the Borrower and does not violate or result in a default
under the Borrower’s Articles of Incorporation or By-Laws, any applicable law or governmental
regulation or any material agreement to which the Borrower is a party or by which it is bound.

          (b) The representations and warranties of the Borrower in the Credit Agreement are true and
correct in all material respects and, except for the Defaults and Events of Default as disclosed to
the Lenders, no Default or Event of Default exists.

     7. Waiver, Release of Claims, and Indemnification. The Borrower, for itself and each
and all of its officers, employees, agents, shareholders, members, directors, heirs, successors,
and assigns, does hereby fully, unconditionally, and irrevocably waive and release the Agent and
the Lenders and their respective officers, employees, agents, directors, shareholders, affiliates,
attorneys, successors, and assigns (each a “Released Party”), of and from any and all claims,
liabilities, obligations, causes of action, defenses, counterclaims, and setoffs, of any kind,
whether known or unknown and whether in contract, tort, statute, or under any other legal theory,
arising out of or relating to any act or omission by the Agent, any Lender or any other Released
Party, on or before the date of this Amendment No. 3. The Borrower agrees to defend, indemnify,
and hold the Agent, each Lender and each other Released Party harmless from and against any and all
losses, costs, expenses, damages, or liabilities (including reasonable attorneys’ fees) incurred in
connection with any demand, claim, counterclaim, cause of action, or proceeding brought as a result
of, or arising out of, or in any way related to any of the Loan Documents, this Amendment No. 3,
any documents executed in connection with or related to any of the Loan Documents, the performance
by the Agent and each Lender under any of the Loan Documents or any documents executed in
connection with or related to this Amendment No. 3 or any of the other Loan Documents, or any
transaction financed or to be financed, in whole or in part, directly or indirectly, with the
proceeds of any Loans. Notwithstanding the foregoing, the Borrower shall not have any obligation
to defend, indemnify, or hold the Agent, any Lender or any other Released Party harmless with
respect to any loss, cost, expense, damage, or liability resulting solely from willful misconduct
on the part of the Agent, such Lender or such other Released Party.

     8. Governing Law. This Amendment No. 3 shall be governed by and construed in
accordance with the internal laws (without regard to the conflict of law provisions) of the State
of Wisconsin.

7

 

     9. Costs and Expenses. The Borrower agrees to pay to the Agent and each Lender all
costs and expenses (including reasonable attorneys’ fees) paid or incurred by the Agent or such
Lender in connection with the negotiation, execution and delivery of this Amendment No. 3.

     10. Full Force and Effect. The Credit Agreement, as amended by this Amendment No. 3,
remains in full force and effect.

     11. Relief from the Automatic Stay. As a material inducement to the Agent and the
Lenders to enter into this Amendment No. 3, the Borrower hereby stipulates and agrees that the
Agent and the Lenders shall be entitled to relief from the automatic stay imposed by 11 U.S.C.
§ 362 or any similar stay or suspension of remedies under any other federal or state law in the
event the Borrower becomes subject to a bankruptcy or other insolvency proceeding, to allow the
Agent and the Lenders to exercise their rights and remedies under the Pledge Agreement.

[remainder of page intentionally left blank; signature page follows]

8

 

     IN WITNESS WHEREOF, the undersigned have executed this Amendment No. 3 as of the date first
set forth above.

	 	 	 	 	 	 	 	 	 
	 	 	ANCHOR BANCORP WISCONSIN INC.	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	BY	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Its	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	U.S. BANK NATIONAL ASSOCIATION, as the Agent and a
Lender	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	BY	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Its	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	ASSOCIATED BANK, NATIONAL ASSOCIATION	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	BY	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Its	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	BANK OF AMERICA, N.A.	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	BY	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Its	 	 	 	 
	 

	 	 	 	 	 	 	 	 

Signature Page to

Amendment No. 3 to Amended and Restated Credit Agreement

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