Document:

Settlement Agreement

 Exhibit 10.1 
  
 SETTLEMENT AGREEMENT AND GENERAL RELEASE OF ALL CLAIMS 
  
 This Settlement Agreement and General Release of All Claims (the “Agreement”) is made by and between Axesstel,
Inc., a Nevada corporation (the “Company”) on the one hand, and Satoru Yukie (“Employee”) on the other hand (the Company and Employee are collectively referred to as “Parties”), and is made in reference to the
following: 
  
 A. Employee has provided services to the Company,
including its subsidiaries and affiliates, most recently as President of Axesstel Technologies, Inc. and, from time to time, other positions and titles, including as a director. 
  
 B. Employee accepted an offer of employment from Axesstel, Inc., a California corporation (the “Subsidiary”),
which is memorialized in a letter dated May 1, 2002, executed by the Subsidiary and Employee (the “Offer Letter”). 
  
 C. Employee’s services to the Company, including its subsidiaries and affiliates, in all capacities ceased on May 7, 2004. 
  
 D. Employee currently holds a warrant which is exercisable for 1,210,367
shares of common stock of the Company, with an exercise price of $0.07 per share (the “Warrant”), which is memorialized in the Warrant Agreement attached hereto as Attachment No. 1. The Warrant was originally issued by the
Subsidiary, and was exercisable for 4,000,000 shares of common stock of the Subsidiary, with an exercise price of $0.02 per share. The Company assumed this Warrant in connection with the Corporate Combination Agreement, as amended, dated July 16,
2002, between the Company (formerly Miracom Industries, Inc.) and the Subsidiary. 
  
 E. Employee was granted an option exercisable for 84,000 shares of common stock, with an exercise price of $0.60 per share (the “Option”), which is memorialized in the Notice of Stock Option Grant and Stock
Option Agreement (the “Option Agreement”) previously provided to Employee. So long as Employee was providing services to the Company as an employee, the options were subject to the following vesting schedule: 1/12 of the options would vest
every three months for a period of three years. At the date of Termination of Service, Employee was vested as to 42,000 shares of common stock of the Company. 
  

F. The Parties desire to resolve any and all potential disputes between them arising out of Employee’s employment. Additionally, the Parties
desire to resolve any known or unknown claims related to Employee’s employment or any circumstances surrounding such employment, the Warrant and the Option. For these reasons, the Parties have entered into this Agreement. 
  
 In consideration for the promises and covenants undertaken by the Parties
herein and the releases given by Employee herein, the Parties promise and agree as follows: 
  
 1. The Company shall pay to Employee a gross sum in the amount of $19,166.67, less any normal withholdings that may be required, once this Agreement cannot be revoked. 
  

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 2. The Company has paid its share of Employee’s medical insurance under the system regularly used
(with Employee paying his share with deductions, if applicable, from the settlement payments described in the paragraph above) for the month of May 2004. Beginning on June 1, 2004, Employee has been entitled to his rights under the provisions of
Section 4980B of the Internal Revenue Code of 1986, as amended (the “Code”), commonly known as “COBRA”. 
  
 3. Registration Rights and Restrictions on Transfer. 
  
 (a) The Company has filed a registration statement in connection with a proposed underwritten public offering of its common stock (the
“Offering”). The Company and the underwriters have offered Employee the opportunity to include for registration in the Offering up to a specified number of shares of common stock of the Company conditioned upon Employee exercising all of
the vested shares underlying his Option and Warrant (the “Shares”). 
  
 (b) In the event that (i) Employee is not able to include all of the Shares in the Offering as a result of a decision of the Company or its underwriters to cut back the number of shares Employee is permitted to sell,
or (ii) the Offering does not occur before June 30, 2004, then the Company agrees, on or before September 30, 2005, to use its best efforts to register the vested shares issuable upon exercise of the Warrant and the Option not sold in the Offering
(the “Registrable Securities”) on a registration statement on Form S-8, to the extent such form is then available to the Company to register such Registrable Securities. The Company’s obligation under this Section 3 is subject
to Employee’s timely provision in writing of all information reasonably requested by the Company in connection with inclusion of the Registrable Securities in such registration statement. The obligation of the Company to include the Registrable
Securities in such registration statement shall terminate at such time as Employee is able to sell publicly all of the Registrable Securities then held or acquirable by Employee during any 90-day period pursuant to an exemption from the registration
provisions of the Securities Act of 1933, as amended. 
  
 (c)
Notwithstanding the foregoing, the Company may, upon notice to you, postpone effecting the registration pursuant to Section 3(b) for a reasonable time specified in the notice but not exceeding 90 days, if (1) an investment banking firm of recognized
national standing shall advise the Company and you in writing that effecting the registration would materially and adversely affect a planned offering of securities by the Company or (2) the Company shall deliver a certificate signed by an executive
officer of the Company stating that in the good faith judgment of the Board, the Company is in possession of material non-public information, the disclosure of which during the period specified in that notice, the Company reasonably believes would
not be in its best interests. 
  
 (d) Notwithstanding the
foregoing, the Company shall not be obligated to include the Registrable Securities in a Form S-8 registration statement if the Company offers Employee the ability to include the Registrable Securities in a registration statement for an 

 

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 underwritten public offering of the Company. If Employee chooses to sell his Registrable Securities through such
underwriting, he shall enter into an underwriting agreement in customary form with the managing underwriter or underwriter(s) selected by the Company for such underwriting. Employee shall have no right to include his Registrable Securities in such
registration statement unless Employee enters into such underwriting agreement. Notwithstanding the provisions of this Section 3(d), the Company shall have the right at any time to elect not to file any such proposed registration statement, or to
withdraw the same after the filing but prior to the effective date of the registration statement, in which case the Company shall have the obligations set forth in Section 3(b), subject to Section 3(c). 
  
 (e) All costs, fees and expenses in connection with all registration
statements filed pursuant to Section 3 hereof including, without limitation, the Company’s legal and accounting fees, printing expenses, blue sky fees and expenses will be borne by the Company; provided, that Employee shall pay for (i) any
brokerage or underwriting commissions or discounts relating to Registrable Securities sold by Employee, and (ii) fees of counsel to Employee. 
  
 4. Employee acknowledges and agrees that all of his rights with respect to the Warrant and the Option are set forth in the Warrant Agreement and the
Option Agreement, respectively. Employee further acknowledges that as of the date of termination of Employee’s service, the Warrant was fully vested, and the Option was vested and exercisable as to 42,000 shares of common stock of the Company,
and that all further rights of vesting in and to the Option have ceased. Employee acknowledges and agrees that his rights to exercise the Warrant and the Option are set forth in Section 7 of the Warrant Agreement, including Section 7.2 therein, and
Section 7 of the Option Agreement, including Section 7.2 therein, respectively, and that following the time periods set forth in those respective sections, all rights to exercise the Warrant and the Option will expire. Employee and the Subsidiary
shall execute the Warrant Agreement upon execution of this Agreement. On September 17, 2004, Employee and the Company executed the Notice of Grant of Stock Option and Employee executed the Acknowledgement, each in connection with the Option
Agreement. 
  
 5. For the above-referenced payments and covenants
of the Company, Employee agrees and represents that he has returned all property of the Company and its subsidiaries and affiliates, including, but not limited to keys, credit cards, computers, customer lists and equipment and that he has not kept
copies of any of those items. 
  
 6. Employee represents that he
has not charged any personal charges on any Company credit card(s). 
  
 7. Employee hereby agrees to be bound and obligated to the Confidentiality Statement as attached hereto and incorporated by this reference as Exhibit A, and acknowledges and agrees that he continues to be bound and obligated by the
Employee Innovations and Proprietary Rights Assignment Agreement he signed on or about August 8, 2003, and that certain Agreement he signed on or about May 1, 2002. 
  
 8. Except as explicitly and specifically excepted therefrom below, in consideration of and in return for the promises,
representations, and covenants undertaken herein 
  

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 and for other good and valuable consideration, receipt of which is hereby acknowledged, Employee hereby acknowledges full
and complete satisfaction of and does hereby release, absolve and discharge the Company as well as each of its subsidiaries and affiliates, and each of their partners, trustees, directors, officers, agents, attorneys, servants, and employees past
and present, and each of them (hereinafter collectively referred to as “Releasees”) from any and all claims, demands, liens, agreements, contracts, covenants, actions, suits, causes of action, damages, judgments, and orders of whatever
kind or nature in law, equity or otherwise, whether known or unknown to Employee which Employee now owns or holds or has at any time owned or held against Releasees, including specifically, but not exclusively, any and all claims, demands,
agreements, obligations, and causes of action, known or unknown, suspected or unsuspected by the Parties arising out of or in any way connected with any transactions, occurrences, acts, or omissions: 
  
 (a) regarding Employee’s employment relationship with the Company, its
subsidiaries and affiliates, including without limitation, the termination of that relationship or any grants, promises or agreements regarding stock options or other equity compensation with the Company and any claim for wages or salary, whether or
not based on the Offer Letter, and any claim for employment discrimination or harassment of any kind, wrongful termination, slander, defamation, invasion of privacy, or emotional distress; or 
  
 (b) occurring prior to the last date of execution of this Agreement
involving the Parties or the Releasees. 
  
 9. EMPLOYEE
SPECIFICALLY AGREES AND ACKNOWLEDGES EMPLOYEE IS WAIVING ANY RIGHT TO RECOVERY BASED ON STATE OR FEDERAL ANTI-DISCRIMINATION AND EMPLOYMENT LAWS, INCLUDING, WITHOUT LIMITATION, TITLE VII, THE EQUAL PAY ACT, THE AGE DISCRIMINATION IN EMPLOYMENT ACT,
THE AMERICANS WITH DISABILITIES ACT AND THE CALIFORNIA FAIR EMPLOYMENT AND HOUSING ACT, ALL AS AMENDED, WHETHER SUCH CLAIM BE BASED UPON AN ACTION FILED BY EMPLOYEE OR BY A GOVERNMENTAL AGENCY. 
  
 10. It is the intention of Employee in executing this instrument that it
shall be effective as a bar to each and every claim, demand, grievance and cause of action hereinabove specified. In furtherance of this intention, Employee hereby expressly waives any and all rights and benefits conferred upon him by the provisions
of Section 1542 of the California Civil Code and expressly consents that this Agreement shall be given full force and effect according to each and all of its express terms and provisions, including those relating to unknown and unsuspected claims,
demands and causes of action, if any, as well as those relating to any other claims, demands and causes of action hereinabove specified. Section 1542 provides: 
  

“A general release does not extend to claims which 
 the creditor does not know or suspect to exist in his 
 favor at the time of executing the release, which if

 known by him must have materially affected his 
 settlement with the debtor.” 
  

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 11. Employee acknowledges and agrees that he has not filed any lawsuits, charges or complaints against
the Company or any of the other Releasees, in any court or with any governmental agency, nor will Employee allow any such legal action to be prosecuted on Employee’s behalf. 
  
 12. Employee agrees that, consistent with Employee’s business and personal affairs, during and after his employment
with the Company, he will assist the Company in the defense of any claims or potential claims that may be made or threatened to be made against it in any action, suit, or proceeding, whether civil, criminal, administrative, or investigative (a
“Proceeding”) and will assist the Company in the prosecution of any claims that may be made by the Company in any Proceeding, to the extent that such claims may relate to Employee’s services as an employee of or consultant to the
Company. Employee agrees, unless precluded by law, to promptly inform the Company if Employee is asked to participate (or otherwise become involved) in any Proceeding involving such claims or potential claims. Employee also agrees, unless precluded
by law, to promptly inform the Company if Employee is asked to assist in any investigation (whether governmental or private) of the Company (or its actions), regardless of whether a lawsuit has then been filed against the Company with respect to
such investigation. The Company agrees to reimburse Employee for all of Employee’s reasonable out-of-pocket expenses associated with such assistance, including travel expenses and any attorneys’ fees. 
  
 13. Employee covenants never to disparage the Company, or any subsidiary or
affiliate of the Company, or of any product or service of the Company or any subsidiary or affiliate of the Company, or of any past or present employee, officer or director of the Company or any affiliate, or any entity affiliated with Company at
any time during Employee’s employment with the Company. 
  
 14. If any provision of this Agreement or application thereof is held invalid, the invalidity shall not affect other provisions or applications of the Agreement (or any of the agreements incorporated by reference) which can be given effect
without the invalid provision or application. To this end, provisions of this Agreement are severable. 
  
 15. The Company is executing this Agreement for itself and on behalf of all other Releasees who are expressly made third party beneficiaries of it.

  
 16. Any dispute in any way arising out of or related to this
Agreement, the Option Agreement or the Warrant Agreement (including their validity and enforceability), Employee’s employment relationship with the Company, including its subsidiaries and affiliates, his separation from the Company, or any act
that allegedly has or would violate any provision of this Agreement, the Option Agreement or the Warrant Agreement, will be exclusively submitted to binding arbitration before a neutral arbitrator who is licensed to practice law in California and
who is experienced in employment law and stock options. The arbitration shall be conducted pursuant to the rules and procedures of J.A.M.S./Endispute, and the arbitrator shall follow California law. 
  
 If Employee and the Company are unable to agree upon a neutral arbitrator,
the Company will obtain a list of five arbitrators provided by J.A.M.S./Endispute. The Company (first) and then Employee will alternately strike names from the list until only one 
  

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 name remains; the remaining person shall be the arbitrator. The arbitrator shall be bound by the qualifications and
disclosure provisions and the procedures set forth in the most recent version of the JAMS Arbitration Rules and Procedures for Employment Disputes and may authorize such discovery as is appropriate to the nature of the claims and necessary to the
adjudication thereof. 
  
 The arbitration proceedings shall be
held in the City and County of San Diego, California, or at any other location mutually agreed upon by Employee and the Company. The arbitrator shall determine the prevailing party in the arbitration. The arbitrator shall be permitted to award only
those remedies in law or equity that are requested by Employee and/or the Company, appropriate for the claims, and supported by credible, relevant evidence. 
  
 Except as may be necessary to enter judgment upon the award or to the extent required by applicable law, all claims, defenses and proceedings (including,
without limiting the generality of the foregoing, the existence of the controversy and the fact that there is an arbitration proceeding) shall be treated in a confidential manner by the arbitrator, the Parties and their counsel, and each of their
agents, and employees and all others acting on behalf of or in concert with them. Without limiting the generality of the foregoing, no one shall divulge to any third party or person not directly involved in the arbitration the contents of the
pleadings, papers, orders, hearings, trials, or awards in the arbitration, except as may be necessary to enter judgment upon an award as required by applicable law. Any court proceedings relating to the arbitration hereunder, including, without
limiting the generality of the foregoing, to prevent or compel arbitration or to confirm, correct, vacate or otherwise enforce an arbitration award, shall be filed under seal with the court to the extent permitted by law. 
  
 The costs of arbitration, including, but not limited to, the
arbitrator’s fees, court reporter’s fees, and any and all other administrative costs of the arbitration, shall be paid by the Parties consistent with then applicable law. Any dispute as to the reasonableness of incurred costs and expenses
shall be determined by the arbitrator. Employee and the Company agree that this arbitration shall be the exclusive means of resolving any covered disputes, excepting only claims for injunctive relief by either party, and that no other action will be
brought by Employee or the Company in any court or other forum. This Agreement is a waiver of all rights to a civil court action for any such disputes; only the arbitrator, not a judge or jury, will decide the disputes. Should either party pursue
legal or administrative action against the other party in violation of this paragraph 16, the responding party shall be entitled to recover all costs, expenses and attorney’s fees it incurs as a result of such action as well as repayment of any
payments received under this Agreement. 
  
 17. Employee agrees
that he shall promptly return all confidential information and all copies of proprietary documents, and Employee shall also destroy all extracts, memoranda, notes and any other material prepared by Employee based upon confidential information.

  
 18. Employee expressly acknowledges that he has had the
opportunity to have this Agreement reviewed by legal counsel if he so chooses. 
  
 19. This document constitutes the entire agreement between the Parties and supersedes all prior written or oral agreements. 
  

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 20. The Parties understand and agree that this Agreement and each of its terms, and the negotiations
surrounding it, are confidential and shall not be disclosed by the Parties to any entity or person, for any reason, at any time, without the prior written consent of the other party, unless required by law. Notwithstanding the foregoing, Employee
may disclose the terms of this Agreement to his spouse, and for legitimate business reasons, to legal, financial, and tax advisors. Further, the Company may disclose the terms of this Agreement for legitimate business reasons to its officers,
directors, employees, any affiliates, and legal, financial, and tax advisors. 
  
 21. The Company hereby advises Employee in writing to discuss this Agreement with an attorney before executing it. Employee acknowledges the Company has provided him at least twenty-one (21) days within which to
review and consider this Agreement before signing it. Should Employee decide not to use the full twenty-one (21) days, then Employee knowingly and voluntarily waives any claims that Employee was not in fact given that period of time or did not use
the entire twenty-one (21) days to consult an attorney and/or consider this Agreement. 
  
 22. The Parties acknowledge and agree that Employee may revoke this Agreement for up to seven (7) calendar days following Employee’s execution of this Agreement. The Parties further acknowledge and agree that
such revocation must be in writing addressed to David Morash at the Company and received by David Morash not later than midnight on the seventh day following execution of this Agreement by Employee. If Employee revokes this Agreement under this
paragraph, it shall be null, void, unenforceable and ineffective, and Employee will not be entitled to the monies and benefits described above, including those described in paragraphs 1, 2 and 3 above. 
  
 23. If Employee does not revoke this Agreement in the time frame specified in
paragraph 22 above, the Agreement shall become effective at 12:00:01 a.m. on the eighth day after it is signed by Employee. 
  

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 24. The Parties have read the foregoing Settlement Agreement and General Release of All Claims and accept
and agree to be bound by the provisions contained therein and hereby execute it voluntarily and with full understanding of its consequences. 
  

					
	Dated: November 15, 2004	 	 	 	 
		
	 	 	AXESSTEL, INC., a Nevada corporation
			
	 	 	By:	 	 /s/ David Morash

	 	 	 	 	David Morash, President
			
	Dated: November 11, 2004	 	 	 	 
			
	 	 	By:	 	 /s/ Satoru Yukie

	 	 	 	 	Satoru Yukie

  

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 Exhibit A 
  
 Confidentiality Statement 
  

	A.	During the Employee’s employment with the Company, Employee had access to and became acquainted with information concerning the operation of the Company and its subsidiaries
and affiliates, including without limitation, financial, personnel, sales, planning, technical, and other trade information that is owned by the Company and/or its subsidiaries and affiliates and regularly used in the operation of their businesses
and that this information constitutes the Company’s and/or its subsidiaries’ and affiliates’ trade secrets. 

  

	B.	Employee agrees that Employee has not and shall not disclose any such trade secrets, directly or indirectly, to any other person, or use them in any way, except as is required in
the course of the Employee’s employment with the Company and/or its subsidiaries and affiliates. 

  

	C.	Employee further agrees that all files, records, documents, equipment and similar items relating to Company’s and/or its subsidiaries’ and affiliates’ business,
whether prepared by Employee or others, are and shall remain exclusively the property of the Company and/or its subsidiaries and affiliates and that such items shall not and have not been removed from the premises of the Company, including its
subsidiaries and affiliates, except with the prior consent of the Company. 

  

 -9-Amended and Restated Loan Agreement

  
 Exhibit 10.1 
  
  
 AMENDMENT NO. 2 TO AMENDED AND RESTATED LOAN AGREEMENT 
  
 This AMENDMENT NO. 2 TO AMENDED AND RESTATED LOAN AGREEMENT (this “Amendment”), dated as of November 10, 2004, is entered into by and among Wise Alloys LLC, a Delaware limited liability company (“Alloys”), Wise
Recycling, LLC, a Maryland limited liability company (“Recycling” and together with Alloys, each individually a “Borrower” and collectively, “Borrowers”), Wise Metals Group LLC, a Delaware limited liability company
(“Group”), Wise Alloys Finance Corporation, a Delaware corporation (“Finance”), Listerhill Total Maintenance Center LLC, a Delaware limited liability company (“Listerhill”), Wise Warehousing, LLC, a Delaware limited
liability company (“Warehousing”), Wise Recycling Texas, LLC, a Delaware limited liability company (“Recycling Texas”), and Wise Recycling West, LLC, a Delaware limited liability company (“Recycling West” and together
with Group, Finance, Listerhill, Warehousing and Recycling Texas, each individually a “Guarantor” and collectively, “Guarantors”), the financial institutions from time to time parties hereto as lenders, whether by execution of
this Agreement or an Assignment and Acceptance (each individually, a “Lender” and collectively, “Lenders”), Congress Financial Corporation, a Delaware corporation, in its capacity as administrative agent for Lenders (in such
capacity, “Agent”), and Fleet Capital Corporation, in its capacity as documentation agent for Lenders (in such capacity, “Documentation Agent”). 
  
 W I T N E S S E T H: 
  
 WHEREAS, Agent and Lenders have entered into financing arrangements with
Borrowers pursuant to which Agent and Lenders may, upon certain terms and conditions, make loans and advances and provide other financial accommodations to Borrowers as set forth in the Amended and Restated Loan Agreement, dated May 5, 2004, among
Agent, Documentation Agent, Lenders, Borrowers and Guarantors, as amended by Amendment No. 1 to Amended and Restated Loan Agreement, dated June 30, 2004 (as the same now exists and may hereafter be amended, modified, supplemented, extended, renewed,
restated or replaced, the “Loan Agreement”) and the other agreements, documents and instruments referred to therein or any time executed and/or delivered in connection therewith or related thereto, including this Amendment (all of the
foregoing, together with the Loan Agreement, as the same now exist or may hereafter be amended, modified, supplemented, extended, renewed, restated or replaced, being collectively referred to herein as the “Financing Agreements”);

  
 WHEREAS, Borrowers have requested that Agent and Lenders make
certain amendments to the Loan Agreement and the other Financing Agreements, and Agent and Lenders are willing to agree to such amendments, subject to the terms and conditions contained herein; 
  
 WHEREAS, the parties hereto desire to enter into this Amendment to evidence
and effectuate such amendments, subject to the terms and conditions and to the extent set forth herein; 
  

 NOW, THEREFORE, in consideration of the premises and covenants set forth herein and other good and
valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows: 
  
 1. Definitions 
  
 (a) Additional Definitions. As used herein, the following terms shall have the meanings given to them below and the Loan Agreement
and the other Financing Agreements are hereby amended to include, in addition and not in limitation, the following: 
  
 “Eligible Working Capital” shall have the meaning given to such term in the Indenture. 
  
 (b) Amendment to Definitions. 
  
 (i) The definition of “Inventory Loan Limit” in
Section 1.75 of the Loan Agreement is hereby deleted in its entirety and replaced with the following: 
  
 “1.75 ‘Inventory Loan Limit’ shall mean, as to each Borrower, at any time, the amount equal to $80,000,000 (the “Base
Amount”), minus the then outstanding principal amount of Loans to the other Borrowers (and including Letter of Credit Accommodations to the extent provided in the definition of the term Borrowing Base) based on Eligible Inventory;
provided, that, upon the request of Administrative Borrower and the written consent of Agent, Agent may from time to time, in its sole discretion, increase the Base Amount to an amount not to exceed $85,000,000.” 
  
 (ii) The definition of “Loan Limit” in Section
1.80 of the Loan Agreement is hereby deleted in its entirety and replaced with the following: 
  
 “1.80 ‘Loan Limit’ shall mean, as to each Borrower, the amount equal to (a) the lesser of (i) the Maximum Credit and (ii)
the Eligible Working Capital minus (b) the then outstanding principal amount of the Loans and Letter of Credit Accommodations provided to the other Borrowers.” 
  
 (iii) The definition of “Maximum Credit” in Section 1.84 of the Loan Agreement is hereby amended
by deleting “$75,000,000” and replacing it with $125,000,000.” 
  
 (c) Interpretation. Capitalized terms used herein which are not otherwise defined herein shall have the respective meanings ascribed thereto in the Loan Agreement. 
  
 2. Loans. 
  
 (a) Section 2.1(c) of the Loan Agreement is hereby amended
by deleting “the Maximum Credit” and replacing it with “the Maximum Credit or the Eligible Working Capital”. 
  

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 (b) Section 2.1(d) of the Loan Agreement is hereby amended by deleting “the Maximum
Credit” and replacing it with “the Maximum Credit or the Eligible Working Capital”. 
  
 3. Collateral Reporting. Section 7.1(a)(i) of the Loan Agreement is hereby amended by (a) deleting the word “and” at the end of clause
(B) of such Section and replacing it with a comma and (b) adding the following clause immediately before the semicolon at the end of such Section: 
  
 “, and (D) a report of the Eligible Working Capital, together with the computations and supporting materials used in determining the Eligible Working
Capital” 
  
 4. Financial Statements. Section 9.6(a)
of the Loan Agreement is hereby amended by (a) deleting the word “and” at the end of clause (ii) of such Section and replacing it with a comma and (b) adding the following clause immediately before the period at the end of such Section:

  
 “, and (iv) within thirty (30) days after the end of
each month, a certificate from an authorized officer of Group, in form and substance satisfactory to Agent, certifying as to the amount of the Eligible Working Capital as of the end of such month, together with the computations and supporting
materials used in determining such amount.” 
  
 5. Minimum
EBITDA. Section 9.17 of the Loan Agreement is hereby amended by deleting the second proviso of such Section and replacing it with the following: 
  
 “provided, further, that, if the aggregate Adjusted Excess Availability of Borrowers was equal to or greater than $20,000,000
for each of the ten (10) consecutive days immediately preceding the last day of any such Test Period, then Group and its Subsidiaries shall not be required to comply with the terms of this Section 9.17 for such Test Period.” 
  
 6. Minimum Debt Service Ratio. Section 9.18 of the Loan Agreement is
hereby amended by deleting the second proviso of such Section and replacing it with the following: 
  
 “provided, further, that, if the aggregate Adjusted Excess Availability of Borrowers was equal to or greater than $20,000,000
for each of the ten (10) consecutive days immediately preceding the last day of any such Section 9.18 Test Period, then Group and its Subsidiaries shall not be required to comply with the terms of this Section 9.18 for such Section 9.18 Test
Period.” 
  
 7. Additional Loans. Section 12.8 of the
Loan Agreement is hereby amended by deleting “exceed the Maximum Credit” and replacing it with “exceed the Maximum Credit or the Eligible Working Capital”. 
  
 8. Commitments. The signature pages to the Loan Agreement are hereby amended by (a) deleting “$37,500,000”
below the signature of Congress Financial Corporation and replacing 

  

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it with “$75,000,000” and (b) deleting “$37,500,000” below the signature of Fleet Capital Corporation and replacing it with
“$50,000,000.” 
  
 9. Fees. 
  
 (a) Amendment Fee. In consideration of this
Amendment, Borrowers shall pay to Agent, for the account of Lenders (to the extent and in accordance with the arrangements between Agent and each Lender) an amendment fee in the amount of $250,000, which shall be fully earned and due and payable on
the date hereof and which may be charged by Agent directly to the loan account of any Borrower. 
  
 (b) Syndication Fee. In consideration of this Amendment, Borrowers shall also pay to Agent, for its own account, a syndication fee
in the amount of $25,000, which shall be fully earned and due and payable on the date hereof and which may be charged by Agent directly to the loan account of any Borrower. 
  
 10. Additional Representations, Warranties and Covenants. Borrowers and Guarantors, jointly and severally, represent,
warrant and covenant with and to Agent and Lenders as follows, which representations, warranties and covenants are continuing and shall survive the execution and delivery hereof, and the truth and accuracy of, or compliance with each, together with
the representations, warranties and covenants in the other Financing Agreements, being a continuing condition of the making of Loans by Lenders to Borrowers: 
  

(a) This Amendment has been duly authorized, executed and delivered by all necessary action on the part of each Borrower and Guarantor
which is a party hereto and thereto and, if necessary, their respective members or stockholders, as the case may be, and is in full force and effect as of the date hereof, as the case may be, and the agreements and obligations of Borrowers and
Guarantors contained herein constitute legal, valid and binding obligations of Borrowers and Guarantors enforceable against them in accordance with their terms, except as such enforceability may be limited by (i) bankruptcy, insolvency,
reorganization, moratorium or similar laws of general applicability affecting the enforcement of creditors’ rights and (ii) the application of general principles of equity (regardless of whether such enforceability is considered in a proceeding
in equity or at law). 
  
 (b) As of the date
hereof, all of the representations and warranties set forth in the Loan Agreement and the other Financing Agreements are true and correct in all material respects on and as of the date hereof as if made on the date hereof, except to the extent any
such representation or warranty is made as of a specified date, in which case such representation or warranty shall have been true and correct as of such date. 
  

(c) As of the date hereof, no Default or Event of Default exists or has occurred and is continuing. 
  
 11. Conditions Precedent. The provisions contained herein shall be
effective as of the date hereof, but only upon the satisfaction of each of the following conditions precedent, in a manner satisfactory to Agent: 
  
 (a) Agent shall have received an original of this Amendment, duly authorized, executed and delivered by Borrowers, Guarantors and Required
Lenders; 
  

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 (b) Agent shall have received, in form and substance satisfactory to Agent, an opinion
letter of counsel to Borrowers and Guarantors with respect to this Amendment and such other matters as Agent may request; 
  
 (c) Agent shall have received, in form and substance satisfactory to Agent, (i) a Secretary’s Certificate of Members’ and
Managers’ Resolutions, Operating Agreement, Incumbency and Member’s Consent for each of Alloys, Recycling, Group, Listerhill, Warehousing, Recycling Texas and Recycling West evidencing the adoption and subsistence of resolutions approving
the execution, delivery and performance by each such Borrower or Guarantor, as applicable, of this Amendment and (ii) a Secretary’s Certificate of Directors’ Resolutions, Corporate Bylaws, Incumbency and Shareholder’s Consent for
Finance evidencing the adoption and subsistence of resolutions approving the execution, delivery and performance by Finance of this Amendment; and 
  
 (d) no Default or Event of Default shall have occurred and be continuing. 
  
 12. Effect of this Amendment; Entire Agreement. Except as modified pursuant to this Amendment and the other Amendment
Documents, no other changes or modifications to the Financing Agreements are intended or implied, and in all other respects the Financing Agreements are hereby specifically ratified, restated and confirmed by all parties hereto as of the date
hereof. This Amendment, the Exhibits and Schedules hereto, and any instruments or documents delivered or to be delivered in connection herewith, represent the entire agreement and understanding concerning the subject matter hereof and thereof
between the parties hereto, and supersede all other prior agreements, understandings, negotiations and discussions, representations, warranties, commitments, proposals, offers and contracts concerning the subject matter hereof, whether oral or
written. To the extent of conflict between the terms of this Amendment and the other Financing Agreements, the terms of this Amendment shall control. The Loan Agreement and this Amendment shall be read and construed as one agreement. 
  
 13. Further Assurances. The parties hereto shall execute and deliver
such additional documents and take such additional action as may be reasonably necessary or desirable to effectuate the provisions and purposes of this Amendment. 
  
 14. Governing Law. The validity, interpretation and enforcement of this Amendment and any dispute arising out of the
relationship between the parties hereto whether in contract, tort, equity or otherwise, shall be governed by the internal laws of the State of New York but excluding any principles of conflicts of law or other rule of law that would cause the
application of the law of any jurisdiction other than the laws of the State of New York. 
  
 15. Binding Effect. This Amendment shall be binding upon and inure to the benefit of each of the parties hereto and their respective successors and assigns. 
  
 16. Headings. The headings listed herein are for convenience only and
do not constitute matters to be construed in interpreting this Amendment. 
  

 5 

 17. Counterparts. This Amendment may be executed in any number of counterparts, but all of such
counterparts shall together constitute but one and the same agreement. In making proof of this Amendment, it shall not be necessary to produce or account for more than one counterpart thereof signed by each of the parties hereto. This Amendment may
be executed and delivered by telecopier with the same force and effect as if it were a manually executed and delivered counterpart. 
  
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 
  

 6 

 Exhibit 10.1 
  
 IN WITNESS WHEREOF, Agent, Lenders, Borrower and Guarantors have caused this Amendment to be duly executed as of the day and year first above written.

  

			
	 BORROWERS

	
	 WISE ALLOYS LLC

		
	By:	 	 /s/ Danny Mendelson

		
	 Title:
	 	 Chief Financial Officer

	
	 WISE RECYCLING, LLC

		
	By:	 	 /s/ Danny Mendelson

		
	 Title:
	 	 President

	
	 GUARANTORS

	
	 WISE METALS GROUP LLC

		
	By:	 	 /s/ Danny Mendelson

		
	 Title:
	 	 Chief Financial Officer

	
	 WISE ALLOYS FINANCE CORPORATION

		
	By:	 	 /s/ Danny Mendelson

		
	 Title:
	 	 Chief Financial Officer

	
	LISTERHILL TOTAL MAINTENANCE CENTER LLC
		
	By:	 	 /s/ Danny Mendelson

		
	 Title:
	 	 Chief Executive Officer

  
 [SIGNATURES
CONTINUED ON NEXT PAGE] 
  

 Exhibit 10.1 
  
 [SIGNATURES CONTINUED FROM PREVIOUS PAGE] 
  

			
	 WISE RECYCLING TEXAS, LLC

		
	By:	 	 /s/ Danny Mendelson

		
	 Title:
	 	 Chief Executive Officer

	
	 WISE WAREHOUSING, LLC

		
	By:	 	 /s/ Danny Mendelson

		
	 Title:
	 	 Chief Executive Officer

	
	 WISE RECYCLING WEST, LLC

		
	By:	 	 /s/ Danny Mendelson

		
	 Title:
	 	 President

  
 [SIGNATURES
CONTINUED ON NEXT PAGE] 
  

 Exhibit 10.1 
  
 [SIGNATURES CONTINUED FROM PREVIOUS PAGE] 
  

			
	 AGENT

	
	 CONGRESS FINANCIAL CORPORATION,
 as Agent

		
	By:	 	 /s/ James O’Connell

		
	 Title:
	 	 Assistant Vice President

	
	 DOCUMENTATION AGENT

	
	 FLEET CAPITAL CORPORATION,
 as Documentation Agent

		
	By:	 	 /s/ Robert Anchundia

		
	 Title:
	 	 Vice President

	
	 LENDERS

	
	 CONGRESS FINANCIAL CORPORATION

		
	By:	 	 /s/ James O’Connell

		
	 Title:
	 	 Assistant Vice President

	
	 FLEET CAPITAL CORPORATION

		
	By:	 	 /s/ Robert Anchundia

		
	 Title:
	 	 Vice President

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