Document:

Exhibit 10.2 

 

FIRST
AMENDMENT TO AMENDED AND RESTATED EMPLOYMENT AGREEMENT

 

This First Amendment to Amended
and Restated Employment Agreement (this “Amendment”) is made effective as of January 1, 2022 (the “Amendment
Effective Date”), by and between Aptinyx, Inc. (the “Company”), and Norbert G. Riedel, PhD (the “Executive”).

 

WITNESSETH

 

WHEREAS, the Company and the
Executive are parties to an Amended and Restated Employment Agreement effective as of the closing of the Company’s first underwritten
public offering of its equity securities pursuant to an effective registration statement under the Securities Act of 1933 (the “Employment
Agreement”);

 

WHEREAS, the Company and the
Executive wish to amend certain provisions of the Employment Agreement to reflect Executive’s transition into the Company’s
Executive Chairman role;

 

WHEREAS, the Executive is
entering into this Amendment in consideration and as a condition of his continued employment;

 

WHEREAS, capitalized terms
used herein and not otherwise defined shall have the meanings ascribed to them in the Employment Agreement.

 

NOW, THEREFORE, in consideration
of the mutual agreements and covenants set forth herein, and for other good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows:

 

1.            Section 2
of the Employment Agreement (“Duties”) is hereby amended and restated in its entirety to read as follows:

 

The Executive will serve as Executive Chairman and will have
such powers and duties as may from time to time be prescribed by the Chief Executive Officer or the Chairman of the Board of Directors
of the Company (the “Board”). The Executive shall devote his full working time and efforts to the business and affairs of
the Company and not engage in any other business activities without prior written approval by the Board. Notwithstanding the foregoing,
the Executive may engage in religious, charitable or other community activities as long as such services and activities do not interfere
with the Executive’s performance of his duties to the Company.

 

2.            Section 3(a) of
the Employment Agreement (“Base Salary”) is hereby amended by deleting the number “$439,212.00” and replacing
it with “$315,900.00”.

 

3.            Section 3(b) of
the Employment Agreement (“Incentive Bonus”) is hereby amended by deleting the percentage “40%” and replacing
it with “50%”.

 

     

     

    

 

4.            The
Executive and the Company agree and hereby acknowledge that neither the Company’s tendering of this Amendment nor any aspect of
this Amendment taking effect shall constitute an occurrence constituting Good Reason as defined in Section 4 of the Employment Agreement.

 

5.            All
other provisions of the Employment Agreement shall remain in full force and effect according to their respective terms, and nothing contained
herein shall be deemed a waiver of any right or abrogation of any obligation otherwise existing under the Employment Agreement except
to the extent specifically provided for herein.

 

6.            This
Amendment may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and
the same instrument. Signatures on this Amendment may be conveyed by facsimile or other electronic transmission and shall be binding upon
the parties so transmitting their signatures. Counterparts with original signatures shall be provided to the other parties following the
applicable facsimile or other electronic transmission; provided, that failure to provide the original counterpart shall have no effect
on the validity or the binding nature of this Amendment.

 

[Signature page follows]

 

    2 

     

    

 

IN WITNESS WHEREOF, the parties hereto have executed
this Amendment as of the Amendment Effective Date.

 

	 	THE COMPANY
	 	 
	 	APTINYX, INC.
	 	 
	 	/s/ Ashish Khanna
	 	By:	Ashish Khanna
	 	Its:	Chief Financial Officer and Chief Business Officer
	 	 
	 	THE EXECUTIVE
	 	 
	 	/s/ Norbert G. Riedel, PhD
	 	Norbert G. Riedel, PhDExhibit 10.1

 

Execution Version 

 

SECOND AMENDMENT TO CREDIT AGREEMENT

 

SECOND AMENDMENT to CREDIT
AGREEMENT, dated as of December 30, 2021 (this “Amendment”), by and among International Seaways Operating Corporation,
a Marshall Islands corporation (“ISOC” or the “Borrower”), International Seaways, Inc., as Holdings,
the other Loan Parties party hereto, the Lenders party hereto constituting Required Lenders, and Nordea Bank ABP, New York Branch, as
Administrative Agent (in such capacity, the “Administrative Agent”), Collateral Agent and Security Trustee.

 

PRELIMINARY STATEMENTS

 

WHEREAS, the Borrower, Holdings,
the Administrative Agent, and the other parties thereto are party to that certain US$390 Million Credit Agreement, dated as of January
23, 2020 (as amended by a First Amendment to Credit Agreement, dated as of April 27, 2020, and as may be further amended, restated, amended
and restated, supplemented and/or otherwise modified from time to time prior to the date hereof, the “Credit Agreement”
and, the Credit Agreement as amended by this Amendment, the “Amended Credit Agreement”).

 

WHEREAS, subject to the terms
of this Amendment, the parties hereto wish to amend the Credit Agreement as herein provided.

 

NOW, THEREFORE, in consideration
of the premises and for other good and valuable consideration, the sufficiency and receipt of all of which are hereby acknowledged, the
parties hereto hereby agree as follows:

 

SECTION 1. Definitions.
Capitalized terms not otherwise defined in this Amendment have the same meanings as specified in the Credit Agreement.

 

SECTION 2. Amendments to
Credit Agreement. As of the Second Amendment Effective Date (as defined in Section 3 below):

 

(a)               
Section 2.10(b)(iv) of the Credit Agreement is hereby deleted in its entirety and replaced with the following:

 

“On (i) the date
of any Asset Sale in respect of a Core Collateral Vessel or Sale and Leaseback Transaction in respect of a Core Collateral Vessel (or
Asset Sale in respect of the Equity Interests in the owner of a Core Collateral Vessel) and (ii) the earlier of (A) the date which is
one hundred and eighty (180) days following the Total Loss Date in respect of a Core Collateral Vessel (or, if such date is not a Business
Day, on the following Business Day) and (B) the date of receipt by the Borrower, any Subsidiary Guarantor or the Administrative Agent
of the insurance proceeds relating to such Total Loss (or, if such date is not a Business Day, on the following Business Day); provided
that if any Core Collateral Vessel which is the subject of a Requisition is redelivered to the full control of the Subsidiary Guarantor
prior to such date, no prepayment shall be required, in each case, the Borrower shall, subject to Section 2.10(d) below, repay outstanding
Core Term Loans and, solely if applicable, repay Revolving Loans and permanently reduce Revolving Commitments in an aggregate principal
amount equal to the sum of the then aggregate outstanding principal amount of the Core Term Loans, Revolving Loans and undrawn Revolving
Commitments, multiplied by a fraction, the numerator of which is the Vessel Appraisal Value of the affected Core Collateral Vessel and
the denominator of which is the aggregate of the Vessel Appraisal Values of all Core Collateral Vessels (including such affected Core
Collateral Vessel).”

 

    

     

    

 

(b)               
Section 2.10(d) of the Credit Agreement is hereby deleted in its entirety and replaced with the following:

 

“Prior to any
optional prepayment with respect to the Core Facilities hereunder, the Borrower shall select the Borrowing or Borrowings to be prepaid
and shall specify such selection in the notice of such prepayment pursuant to Section 2.10(f), subject to the provisions of this
Section 2.10(d). Any prepayments pursuant to Section 2.10(b)(iv) shall be applied (i) first, to prepay principal
of outstanding Core Term Loans and, to the extent so applied, to reduce future Core Scheduled Amortization Payment Amounts required under
Section 2.09 (including the Core Scheduled Amortization Payment Amount due on the Core Term Loan Maturity Date) on a pro rata basis
among the payments remaining to be made on each Core Term Loan Repayment Date, and (ii) second, to the extent there are prepayment
amounts remaining after the application of such prepayments under preceding clause (i), such excess amounts shall be applied to the permanent
reduction of the Revolving Commitments and, if after giving effect to such reduction, the amount of outstanding Revolving Loans exceeds
the Revolving Commitments, to the prepayment of principal of outstanding Revolving Loans in the amount of such excess. Optional prepayments
of Core Term Loans pursuant to Section 2.10(a) shall be applied to reduce future Core Scheduled Amortization Payment Amounts under
Section 2.09 (including the Core Scheduled Amortization Payment Amount due on the Core Term Loan Maturity Date) on a pro rata basis
among the payments remaining to be made on each Core Term Loan Repayment Date.”

 

SECTION 3. Effective
Date. This Amendment shall become effective as of the date (the “Second Amendment Effective Date”) when:

 

(a)               
the Borrower, the Guarantors and the Lenders constituting Required Lenders shall have signed a counterpart hereof (whether the
same or different counterparts) and shall have delivered (including by way of email) the same to White & Case LLP, 1221 Avenue of
the Americas, New York, NY 10036; Attention: Ryan Talbott (email: ryan.talbott@whitecase.com); and

 

(b)               
the Borrower shall have paid to the Administrative Agent all reasonable out-of-pocket costs and expenses incurred in connection
with the Second Amendment and the other Loan Documents (including, without limitation, the reasonable fees and expenses of White &
Case LLP).

 

SECTION 4. Effect of Amendment;
Miscellaneous.

 

(a)               
Except as expressly set forth in Section 2 of this Amendment, nothing in this Amendment shall constitute a modification or alteration
of the terms, conditions or covenants of the Credit Agreement or any other Loan Document, or a waiver of any other terms or provisions
thereof, and the Credit Agreement and the other Loan Documents shall remain unchanged and shall continue in full force and effect, in
each case as amended hereby. From and after the date of this Amendment, (i) each reference in the Credit Agreement and the other Loan
Documents to “the Credit Agreement”, “this Agreement”, “hereunder”, “hereof”, “herein”
or words of like import and each reference to the Credit Agreement in any other Loan Document shall be deemed a reference to the Amended
Credit Agreement, and (ii) the “Obligations” and “Secured Obligations” under, and each as defined in, the Credit
Agreement shall continue as Obligations and Secured Obligations under the Amended Credit Agreement.

 

(b)               
This Amendment may not be amended, modified or waived except in accordance with Section 11.02 of the Credit Agreement.

 

(c)               
This Amendment shall constitute a “Loan Document” for all purposes of the Amended Credit Agreement and the other Loan
Documents.

 

    

     

    

 

SECTION 5. Execution in Counterparts.
This Amendment may be executed by one or more of the parties hereto on any number of separate counterparts and all of said counterparts
taken together shall be deemed to constitute one and the same instrument. Delivery of an executed counterpart of a signature page of this
Amendment by facsimile or in electronic (i.e., “pdf” or “tif”) format shall be effective as delivery of a manually
executed counterpart of this Amendment. The words “execution,” “signed,” “signature,” and words of
like import in this Amendment shall be deemed to include electronic signatures or the keeping of records in electronic form, each of which
shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based recordkeeping
system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global
and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar applicable state laws based
on the Uniform Electronic Transactions Act.

 

SECTION 6. Successors.
This Amendment shall be binding upon and inure to the benefit of and be enforceable by the respective successors and permitted assigns
of the parties hereto.

 

SECTION 7. GOVERNING LAW;
SUBMISSION TO JURISDICTION; VENUE; WAIVER OF JURY TRIAL. THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HERETO SHALL
BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAW OF THE STATE OF NEW YORK. Sections 11.09 and 11.10 of the Credit are incorporated
herein by reference, mutatis mutandis.

 

[The remainder of this page is intentionally
left blank. Signature pages follow.]

 

    

     

    

 

IN WITNESS WHEREOF, the
parties hereto have caused this Amendment to be executed by their respective officers thereunto duly authorized, as of the date first
above written.

 

 

	 	INTERNATIONAL SEAWAYS, INC.,
	 	as Holdings and a Guarantor
	 	 	 
	 	 	 
	 	By:	 /s/ James D. Small III
	 	Name: James D. Small III
	 	Title: Chief Administrative Officer, Senior Vice President, Secretary & General Counsel
	 	 	 
	 	 	 
	 	INTERNATIONAL SEAWAYS OPERATING CORPORATION,
	 	as the Borrower and a Guarantor
	 	 	 
	 	 	 
	 	By: 	/s/ James D. Small III
	 	Name: James D. Small III
	 	Title: Senior Vice President & Secretary

 

[Signature Page to INSW
 – Second Amendment to Credit Agreement]

 

    

     

    

 

	 	

FRONT PRESIDENT
INC.

HATTERAS TANKER
CORPORATION

KYTHNOS CHARTERING
CORPORATION

LEYTE PRODUCT
TANKER CORPORATION

MAPLE TANKER
CORPORATION

MILOS PRODUCT
TANKER CORPORATION

MONTAUK TANKER
CORPORATION

OAK TANKER CORPORATION

OVERSEAS SHIPPING
(GR) LTD.

SAMAR PRODUCT
TANKER CORPORATION

SEAWAYS SHIPPING
CORPORATION

SECOND KATSURA
TANKER CORPORATION

SKOPELOS PRODUCT
TANKER CORPORATION,

as Guarantors

	 	 
	 	 
	 	By: 	/s/ James D. Small III
	 	Name: James D. Small III
	 	Title: Vice President & Secretary

 

[Signature Page to INSW
 – Second Amendment to Credit Agreement]

 

    

     

    

 

	 	NORDEA BANK ABP, NEW YORK BRANCH,
	 	as Administrative Agent, Collateral Agent, Security Trustee and a Lender
	 	 
	 	 
	 	By:	 /s/ Martin Lunder
	 	Name: Martin Lunder
	 	Title: Managing Director
	 	 
	 	 
	 	By:	 /s/ Oddbjorne Warpe
	 	Name: Oddbjorne Warpe
	 	Title: Executive Director

 

[Signature Page to INSW – Second
Amendment to Credit Agreement]

 

    

     

    

 

	 	CRÉDIT AGRICOLE CORPORATE & INVESTMENT BANK,
	 	as a Lender
	 	 
	 	 
	 	By: 	/s/ J. Duval
	 	Name: J. Duval
	 	Title: Managing Director
	 	 
	 	 
	 	By: 	/s/ Georgios Gkanasoulis
	 	Name: Georgios Gkanasoulis
	 	Title: Director

 

[Signature Page to INSW
 – Second Amendment to Credit Agreement]

 

    

     

    

 

	 	DNB CAPITAL LLC,
	 	as a Lender
	 	 
	 	 
	 	By: 	/s/ Cathleen Buckley
	 	Name: Cathleen Buckley
	 	Title: Senior Vice President
	 	 
	 	 
	 	By: 	/s/ Andrew J. Shohet
	 	Name: Andrew J. Shohet
	 	Title: Senior Vice President

 

[Signature Page to INSW
 – Second Amendment to Credit Agreement]

 

    

     

    

 

	 	SKANDINAVISKA ENSKILDA BANKEN AB (PUBL),
	 	as a Lender
	 	 
	 	 
	 	By: 	/s/ Hans Christian Kjelsrud
	 	Name: Hans Christian Kjelsrud
	 	Title:
	 	 
	 	 
	 	By: 	/s/ Erling Amundsen
	 	Name: Erling Amundsen
	 	Title: Attorney-at-Law

 

[Signature Page to INSW – Second Amendment to Credit Agreement]

 

    

     

    

 

	 	BNP PARIBAS,
	 	as a Lender
	 	 
	 	 
	 	By: 	/s/ Darien Fievez
	 	Name: Darien Fievez
	 	Title: Managing Director
	 	 
	 	 
	 	By: 	/s/ Eric Dulcire
	 	Name: Eric Dulcire
	 	Title: Managing Director

 

[Signature Page to INSW – Second Amendment to Credit Agreement]

 

    

     

    

 

	 	DANISH SHIP FINANCE A/S,
	 	as a Lender
	 	 
	 	 
	 	By: 	/s/ Michael Frisch
	 	Name: Michael Frisch
	 	Title: CCO
	 	 
	 	 
	 	By:	 /s/ Marcus Freuchen Christensen
	 	Name: Marcus Freuchen Christensen
	 	Title: SRM

 

[Signature Page to INSW – Second
Amendment to Credit Agreement]

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