Document:

Amendment No. 1 to Credit Agreement dated December 11, 2012.

 Exhibit 10.1 
 AMENDMENT NO. 1 
 TO CREDIT AGREEMENT 

THIS AMENDMENT NO. 1 TO CREDIT AGREEMENT (this “Amendment”), dated as of December 11, 2012, is made by and among
Great Lakes Dredge & Dock Corporation (the “Borrower”), the other “Credit Parties” from time to time party to the Credit Agreement referred to and defined below (together with the Borrower, the “Credit
Parties”), the Lenders (as defined below) signatory hereto and Wells Fargo Bank, National Association, as Swingline Lender, an Issuing Lender and the Administrative Agent (in such capacity, the “Administrative Agent”).
Capitalized terms used herein and not otherwise defined herein shall have the meanings ascribed to such terms in the Credit Agreement referred to and defined below. 
 W I T N E S S E T H: 
 WHEREAS, the Borrower, the other Credit Parties, the
financial institutions from time to time party thereto (collectively, the “Lenders”) and the Administrative Agent are parties to that certain Credit Agreement, dated as of June 4, 2012 (as amended, restated, supplemented or
otherwise modified prior to the date hereof, the “Credit Agreement”); 
 WHEREAS, the Borrower has requested
that the Required Lenders, and subject to the terms and conditions set forth herein, the Required Lenders have agreed to, amend certain provisions of the Credit Agreement; 
 NOW, THEREFORE, in consideration of the foregoing premises, the terms and conditions stated herein and other valuable consideration, the receipt and sufficiency of which are hereby acknowledged by the
Borrower, the other Credit Parties, the Required Lenders and the Administrative Agent, such parties hereby agree as follows: 

1. Amendment to Credit Agreement. Subject to the satisfaction of each of the conditions set forth in Section 2 of this
Amendment, Section 9.6(vii) of the Credit Agreement is hereby amended and restated in its entirety as follows: 
 (vii) the Borrower may declare and make (A) Restricted Payments in an aggregate amount during any Fiscal Year not to exceed an aggregate amount equal to (1) $7,500,000 (the
“Restricted Payment Cap”) plus (2) 100% of any unused portion of the Restricted Payment Cap from the immediately preceding Fiscal Year, if after giving effect to such Restricted Payment, the Borrower’s Consolidated
Total Leverage Ratio as of the end of the most recent fiscal quarter for which financial statements have been or were required to be delivered as of the date such Restricted Payment is to be made (the “Current Consolidated Total Leverage
Ratio”) would be greater than 2.50 to 1.00; provided, that the Borrower shall use the entire amount of the Restricted Payment Cap allocated to such Fiscal Year prior to using any of the unused portion of the Restricted Payment Cap
allowed to be carried forward from the immediately preceding Fiscal Year and (B) additional Restricted Payments if after giving effect to such Restricted Payment, the Borrower’s Current Consolidated Total Leverage Ratio would be less than
or equal to 2.50 to 1.00; provided, further, that, notwithstanding the 

 
foregoing, (x) the aggregate amount of Restricted Payments made pursuant to this clause (vii) after the Closing Date with respect to Subordinated Indebtedness shall not exceed
the Threshold Amount, (y) during the 2012 Fiscal Year, the Borrower may only declare and make Restricted Payments (other than with respect to Subordinated Indebtedness) in an aggregate amount not to exceed $18,700,000, and (z) during the
2013 Fiscal Year, the Borrower may only declare and make Restricted Payments (other than with respect to Subordinated Indebtedness) in an aggregate amount not to exceed $7,500,000 if after giving effect to such Restricted Payment, the
Borrower’s Current Consolidated Total Leverage Ratio would be less than or equal to 2.50 to 1.00 (it being understood and agreed that any unused portion of the amounts set forth in clause (y) or (z) of this proviso may
not be carried forward to any subsequent Fiscal Year); 
 2. Effectiveness of this Amendment; Conditions Precedent.
The provisions of Section 1 of this Amendment shall be deemed to have become effective as of the date first written above (the “Effective Date”), but such effectiveness shall be expressly conditioned upon the
Administrative Agent’s receipt of each of the following, in each case, in form and substance reasonably acceptable to the Administrative Agent: 
 (a) counterparts of this Amendment duly executed by the Borrower, the other Credit Parties and the Required Lenders; and 
 (b) for the account of each Lender executing and delivering a counterpart signature page to this Amendment before 5:00 p.m. (Central time) on December 11, 2012 (collectively, the “Consenting
Lenders”), payment in full from the Borrower, in immediately available funds, of an amendment fee in an amount equal to 0.05% of such Consenting Lender’s Commitment. 

3. Representations and Warranties. 
 (a) The Borrower and each other Credit Party hereby represents and warrants that this Amendment and the Credit Agreement as amended hereby (collectively, the “Amendment Documents”)
constitute legal, valid and binding obligations of the Borrower and the other Credit Parties enforceable against the Borrower and the other Credit Parties in accordance with their terms. 

(b) The Borrower and each other Credit Party hereby represents and warrants that its execution and delivery of this Amendment, and the
performance of the Amendment Documents, have been duly authorized by all proper corporate or limited liability company action, do not violate any provision of its organizational documents, will not violate any law, regulation, court order or writ
applicable to it, and will not require the approval or consent of any governmental agency, or of any other third party under the terms of any contract or agreement to which it or any of its Affiliates is bound (which has not been previously
obtained), including without limitation, the Bonding Agreement, the Wells Fargo Documents and the Note Indenture. 
 (c) The
Borrower and each other Credit Party hereby represents and warrants that, both before and after giving effect to the provisions of this Amendment, (i) no Default or 

  
 2 

 
Event of Default has occurred and is continuing or will have occurred and be continuing and (ii) all of the representations and warranties of the Borrower and each other Credit Party
contained in the Credit Agreement and in each other Loan Document (other than representations and warranties which, in accordance with their express terms, are made only as of an earlier specified date) are, and will be, true and correct as of the
date of its execution and delivery hereof or thereof in all material respects as though made on and as of such date. 
 4.
Reaffirmation, Ratification and Acknowledgment. The Borrower and each other Credit Party hereby (a) ratifies and reaffirms all of its payment and performance obligations, contingent or otherwise, under each Loan Document to which it is a
party, (b) agrees and acknowledges that such ratification and reaffirmation is not a condition to the continued effectiveness of such Loan Documents and (c) agrees that neither such ratification and reaffirmation, nor the Administrative
Agent’s, or any Lender’s solicitation of such ratification and reaffirmation, constitutes a course of dealing giving rise to any obligation or condition requiring a similar or any other ratification or reaffirmation from the Borrower or
such other Credit Parties with respect to any subsequent modifications to the Credit Agreement or the other Loan Documents. As modified hereby, the Credit Agreement is in all respects ratified and confirmed, and the Credit Agreement as modified by
this Amendment shall be read, taken and so construed as one and the same instrument. Each of the Loan Documents shall remain in full force and effect and are hereby ratified and confirmed. Neither the execution, delivery nor effectiveness of this
Amendment shall operate as a waiver of any right, power or remedy of the Administrative Agent or the Lenders, or of any Default or Event of Default (whether or not known to the Administrative Agent or the Lenders), under any of the Loan Documents.
From and after the effectiveness of this Amendment, (x) each reference in the Credit Agreement to “this Agreement,” “hereunder,” “hereof,” “herein” or words of like import shall mean and be a reference to
the Credit Agreement, as amended hereby and (y) all references to the Credit Agreement appearing in any other Loan Document, or any other document, instrument or agreement executed and/or delivered in connection therewith, shall mean and be a
reference to the Credit Agreement, as amended hereby. 
 5. Governing Law. THIS AMENDMENT SHALL BE GOVERNED BY, AND
CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. 
 6. Administrative Agent’s Expenses. The Borrower
hereby agrees to promptly reimburse the Administrative Agent for all of the reasonable and documented out-of-pocket expenses (including the reasonable fees, charges and disbursements of counsel for the Administrative Agent) it has heretofore or
hereafter incurred or incurs in connection with the preparation, negotiation and execution of this Amendment and the other documents, agreements and instruments contemplated hereby. 

7. Counterparts. This Amendment may be executed in counterparts, each of which shall be an original and all of which when together
shall constitute one and the same agreement among the parties. Delivery of any executed counterpart of a signature page of this Amendment by facsimile or other electronic imaging shall be effective as delivery of a manually executed counterpart
hereof. 
 [Remainder of page left intentionally blank] 

  
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 IN WITNESS WHEREOF, this Amendment has been duly executed as of the day and year first above
written. 
  

			
	 GREAT LAKES DREDGE & DOCK
 CORPORATION, as Borrower

		
	By:	 	/s/ Katherine M. Hayes
	Name:	 	Katherine M. Hayes
	Title:	 	Treasurer
	
	 GREAT LAKES DREDGE & DOCK
 ENVIRONMENTAL, INC., as a Credit Party

		
	By:	 	/s/ Katherine M. Hayes
	Name:	 	Katherine M. Hayes
	Title:	 	Treasurer
	
	GREAT LAKES DREDGE & DOCK
	COMPANY, LLC, as a Credit Party
		
	By:	 	/s/ Katherine M. Hayes
	Name:	 	Katherine M. Hayes
	Title:	 	Treasurer
	
	DAWSON MARINE SERVICES COMPANY, as a Credit Party
		
	By:	 	/s/ Catherine Hoffman
	Name:	 	Catherine Hoffman
	Title:	 	President
	
	 NASDI HOLDINGS CORPORATION, as a
 Credit Party

		
	By:	 	/s/ Katherine M. Hayes
	Name:	 	Katherine M. Hayes
	Title:	 	Treasurer

  

Signature Page to 
 Amendment No. 1 to Credit Agreement 

 
			
	NASDI, LLC, as a Credit Party
		
	By:	 	/s/ Katherine M. Hayes
	Name:	 	Katherine M. Hayes
	Title:	 	Treasurer
	
	FIFTY-THREE DREDGING CORPORATION, as a Credit Party
		
	By:	 	/s/ Paul E. Dinquel
	Name:	 	Paul E. Dinquel
	Title:	 	Vice President
	
	YANKEE ENVIRONMENTAL SERVICES, LLC, as a Credit Party
		
	By:	 	/s/ Katherine M. Hayes
	Name:	 	Katherine M. Hayes
	Title:	 	Treasurer

  

Signature Page to 
 Amendment No. 1 to Credit Agreement 

 
			
	 WELLS FARGO BANK, NATIONAL
 ASSOCIATION, as Administrative Agent and as a Lender

		
	By:	 	/s/ Sushim R. Shah
	Name:	 	Sushim R. Shah
	Title:	 	VP

  

Signature Page to 
 Amendment No. 1 to Credit Agreement 

 
			
	 BANK OF AMERICA, N.A., as an Issuing Lender
 and as a Lender

		
	By:	 	/s/ Jonathan M. Phillips
	Name:	 	Jonathan M. Phillips
	Title:	 	Senior Vice President

  

Signature Page to 
 Amendment No. 1 to Credit Agreement 

			
	 PNC BANK, NATIONAL ASSOCIATION, as a
 Lender

		
	By:	 	/s/ Jon R. Hinard
	Name:	 	Jon R. Hinard
	Title:	 	Senior Vice President

  

Signature Page to 
 Amendment No. 1 to Credit Agreement 

 
			
	BMO HARRIS FINANCING, INC., as a Lender
		
	By:	 	/s/ John Armstrong
	Name:	 	John Armstrong
	Title:	 	Director

  

Signature Page to 
 Amendment No. 1 to Credit Agreement 

 
			
	FIFTH THIRD BANK, as a Lender
		
	By:	 	/s/ Robert R. Mangers
	Name:	 	Robert R. Mangers
	Title:	 	Vice President

  

Signature Page to 
 Amendment No. 1 to Credit Agreement 

 
			
	MB FINANCIAL BANK, N.A., as a Lender
		
	By:	 	/s/ Henry Wessel
	Name:	 	Henry Wessel
	Title:	 	Vice President

  

Signature Page to 
 Amendment No. 1 to Credit Agreement 

 
			
	 DEUTSCHE BANK AG, NEW YORK
 BRANCH, as a Lender

		
	By:	 	/s/ Courtney E. Meehan
	Name:	 	Courtney E. Meehan
	Title:	 	Vice President
		 	
		
	By:	 	/s/ Enrique Landaeta
	Name:	 	Enrique Landaeta
	Title: 	 	Director

  

Signature Page to 
 Amendment No. 1 to Credit AgreementNon-Employee Director Compensation Policy

 Exhibit 10.42 
 Non-Employee Director Compensation Policy & Equity Ownership Guidelines 
 (Effective 10/1/12) 
 Compensation for Non-Employee Directors 

Directors of Destination Maternity Corporation (the “Company”) who are also our employees receive no additional compensation for serving
as a director or as a member of any Committee of the Board of Directors. Our current arrangements for non-employee directors are as follows: 
  

	 	(a)	The Company pays each non-employee director a retainer of $12,500 per quarter. Non-employee directors are not compensated for participation in meetings.

  

	 	(b)	Upon conclusion of the annual meeting of stockholders each year, the Company grants each non-employee director 4,000 shares of restricted stock pursuant to the
Company’s 2005 Equity Incentive Plan that will vest on the earlier of: (1) one year from the date of grant or (2) one day before the Company’s next Annual Meeting of Stockholders, subject to acceleration in the event of the
non-employee director’s death or disability or upon a change in control of the Company. 

  

	 	(c)	The Chair of each of the Audit Committee, the Compensation Committee, and the Nominating and Corporate Governance Committee, and each non-employee director who is a
member of a Committee (including the Chair) is paid a quarterly retainer at the rates reflected in the below table: 

  

					
	 Committee / Position
	  	Quarterly
Retainer	 
	 Audit Committee
	  			
	 Chair
	  	$	3,750	  
	 Member
	  	$	1,875	  
		
	 Compensation Committee
	  			
	 Chair
	  	$	3,750	  
	 Member
	  	$	1,250	  
		
	 Nominating and Corporate Governance Committee
	  			
	 Chair
	  	$	2,500	  
	 Member
	  	$	1,250	  

  

	 	(d)	Board members are also reimbursed for their reasonable travel expenses incurred to attend meetings of our Board of Directors or Committees of the Board of Directors on
which they serve. 

 Also, our Non-Executive Chairman is entitled to the following additional compensation: 

 

	 	(a)	an additional retainer of $6,250 per quarter; and 

  

	 	(b)	 an additional 2,000 shares of restricted stock granted upon election or reelection of the Non-Executive Chairman to that position by the Board
following the annual meeting of stockholders each year, that will vest on the earlier of: (1) one year from the date of grant or (2) one day before the Company’s next Annual Meeting of

	 	
Stockholders, subject to acceleration in the event of the Non-Executive Chairman’s death or disability or upon a change of control of the Company. 

Equity Ownership Guidelines for Non-Employee Directors 
 The Board has adopted these equity ownership guidelines applicable to non-employee directors: 

All non-employee directors are expected to hold equity in the Company having a total value equal to $150,000 (which is three times the annual cash Board
member retainer). 
 Existing directors will have three years from October 1, 2012 to attain the required level of equity ownership.
Directors elected after October 1, 2012 will have three years from the date of election to the Board to attain the required level of equity ownership. 
 The following types of equity instruments count in determining equity ownership for purposes of these guidelines: 
  

	 	(a)	Shares owned separately by the director or owned either jointly with, or separately by, his immediate family members; 

 

	 	(b)	Shares held in trust for the benefit of the director or his immediate family members; 

 

	 	(c)	Shares purchased on the open market; 

  

	 	(d)	Shares obtained through stock option exercise (and not thereafter sold); 

  

	 	(e)	Vested but unexercised stock options; and 

  

	 	(f)	Vested shares of restricted stock. 

 Equity
ownership does not include unvested stock options or unvested shares of restricted stock. 
 The Compensation Committee will determine what
action shall be taken in the event of non-compliance with these equity ownership guidelines. Not in limitation of the foregoing, the Committee may exercise its discretion to declare a director ineligible to receive future equity grants under the
Company’s plans. 
 Progress toward meeting the guidelines will be presented to the Board of Directors at least annually in such manner as
requested by the Board of the Directors. 
 There may be rare instances where the equity ownership guidelines would place a severe financial
hardship on a director. The Compensation Committee may, in its discretion, modify the equity ownership requirements in special circumstances. 

These guidelines shall be administered and interpreted by the Compensation Committee.

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