Document:

REOSTAR ENERGY CORP - Exhibit 10.2

EXHIBIT 10.2

   

EXPLORATION AND DEVELOPMENT AGREEMENT 

  EAGLEFORD SHALE AREA 

  

  

  REOSTAR ENERGY CORPORATION 

  

  AND 

  

  ZAZA ENERGY, LLC 

  

EXPLORATION AND DEVELOPMENT
  AGREEMENT 

        This Exploration and Development
Agreement is entered into this 20th day of May, 2009 by and among ReoStar Energy
Corporation ("ReoStar") and ZaZa Energy, LLC ("ZaZa") as follows. ReoStar and
ZaZa will sometimes hereinafter be referred to individually as a "Party" and collectively
as the "Parties". 

 I. Recitals 

        1.1.         The
Parties have identified certain geographic areas located in South Texas available
for conducting exploration activities thereon, with subsequent leasing, exploration
and production operations, to be known as the Eagleford Shale Area, all as further
described on the sketch and list of Texas counties attached as Exhibit A. 

        1.2.         The
Parties have agreed upon the relative contributions, responsibilities, rights
and duties in connection with the Eagleford Shale Area, all in accordance with
the terms and conditions hereinafter contained. 

        NOW, THEREFORE, in consideration
of the mutual covenants set forth below and other good and valuable consideration,
the Parties agree as follows: 

 II. Definitions 

        The following terms when used
in this Agreement will have the following meanings: 

        2.1.         "After
Payout Working Interest" means a reversionary leasehold estate and working
interest in and to the Subject Leases equal to a Twenty Percent (20%) Working
Interest, vesting in possession and use after Prospect Payout has been reached.
This Twenty Percent (20%) After Payout Working Interest is reserved in favor of
ZaZa in all leasehold obtained with respect to this Agreement but it will be proportionately
reduced in any leasehold to which the Parties to this Agreement own less than
One Hundred Percent (100%) of the Working Interest. 

        2.2.         "Agreement"
means this Agreement and all exhibits attached hereto. 

        2.3.         "Area",
"Prospect Area" and "Eagleford Shale Area" all mean the lands generally described
on Exhibit A. 

        2.4.        
"Contract Operator" means the entity that operates the Hackberry Creek
Prospect through the functions and responsibilities defined in the Joint Operating
Agreement ("JOA") and related documents executed on its behalf, defined herein
as REOS. 

 

        2.5.         "Existing
Burdens" means (i) any royalty, overriding royalty, production payment, and
other similar burdens on production which burden the Subject Leases at the time
of acquisition, and (ii) the Reserved Overriding Royalty Interest. 

        2.6.        
"Exploration Program" means the operations to be conducted by Parties in
the Area using 3-D seismic and other exploration technologies to explore for subsurface
geological formations and anomalies indicative of the existence of oil, gas and
other hydrocarbons, along with all necessary processing, review and analysis of
such data, including without limitation acquisition of new geophysical data or
the reprocessing of existing available geophysical data covering some or all of
the Project Area or across other areas if the data will contribute to the evaluation
of the Project Area and the subsequent leasing of prospective areas. 

        2.7.        
"JOA" means the operating agreement referred to in Article V herein. 

        2.8.        
"Operator of Record" means the entity that is a registered operator with
the Railroad Commission of the State of Texas ("RRC") and files the necessary
information with the RRC as it relates to the operation and reporting of the Hackberry
Creek Prospect on its behalf for the benefit of all working interest and royalty
owners in the same, defined herein as ZAZA. 

        2.9.     
   "Prospect" means a single, or set of, geologic or geophysical
leads or ideas within the Area identified by the Exploration Program thought to
be productive of oil or gas, together with the offsetting acreage necessary to
protect the geological structure or structures, if productive, from competitive
drainage, as agreed by the Parties from time to time and not to exceed Twenty
Thousand (20,000) acres. 

        2.10.    
  "Prospect Payout" means, separately as to each of the mutually agreed
to Prospect that point in time when the cumulative Proceeds received from the
Wells drilled on such distinct Prospect Area equal the cumulative Acquisition
Costs, Seismic Costs, Exploration and Development Costs, and Operating Costs attributable
to all such Wells incurred and paid pursuant to that distinct Prospect. 

        For purposes hereof, the following
terms will have the meaning set out below, determined separately as to each of
the agreed to Phases, respectively: 

	 	        a.        
      "Proceeds" means the sum of (a) the proceeds realized from the sale
      of production from all Wells, after excluding the Existing Burdens attributable
      thereto, (b) any sales proceeds realized from the sale or other disposition
      of part, or all, of an interest in the Wells, or the Subject Leases, (c)
      any insurance proceeds received in respect of loss or damage to Wells, or
      the Subject Leases, and (d) proceeds received in respect of damages pursuant
      to any settlement or judgment in legal proceedings affecting the Wells,
      Subject Leases or operations thereon. 

      

              b.        
      "Exploration and Development Costs" of the Wells means all actual
      third party direct costs and expenses incurred or paid with respect thereto,
      including but not limited to (a) costs of drilling, re-entering, logging,
      testing, completing, and equipping  

	 	such Well(s) for production, (b) that portion
      of drilling rate overhead charges allocated to such Well(s) under the applicable
      JOA, and (c) costs of plugging and abandoning and surface restoration for
      any such well completed as a dryhole. 

      

              c.        
      "Operating Costs" of a Well means all costs incurred in producing
      such Well and disposing of such production including, but not limited to:
      

	 	           (i)
               Labor and other services
      necessary for the maintenance and operations of such Well; 

      

                 (ii)        
      Materials, supplies, transportation, repairs, and replacements used in the
      maintenance and operation of such Well, including replacements for all parts
      of machinery, equipment, tanks, or other equipment to replace and/or repair
      original Well and/or lease equipment; 

      

                (iii)        Reworking
      or re-equipping such Well; 

      

                (iv)       Gathering,
      treating, processing, transporting, and marketing of production from such
      Well; and ad valorem, severance, gathering, windfall profits, or other applicable
      taxes; and 

      

                (v)        That
      portion allocated to such Well in accordance with the usual and customary
      accounting practices of all other costs (including, but not limited to,
      overhead costs of the Contract Operator as set out in the JOA) which, pursuant
      to such accounting practices, are determined to be Operating Costs. 

 

	 	        d.
      "Acquisition Costs" means the sum of all costs incurred and paid
      that are associated with acquiring Subject Leases, including land brokerage,
      title and curative costs, and all delay rentals paid. 

      

              e. "Seismic Costs" means
      all costs incurred and paid in connection with the Exploration Program,
      including without limitation costs of acquiring seismic permits, options
      and licenses attributable to the Area. 

 

        2.11.       
"ReoStar Energy Corporation ("ReoStar")" has the meaning ascribed in the
preamble to this Agreement, with a mailing address of 3880 Hulen St., Suite 500,
Fort Worth, Texas 76107. 

        2.12.        "Reserved
Overriding Royalty Interest" means an overriding royalty interest in and to
the Subject Leases equal to the positive difference between (a) Twenty-Five Percent
(25%) of 8/8ths and (b) the lessor's royalty burden, determined on a lease by
lease basis; in no event, however, to never be less than Three Percent (3%) of
8/8ths. ZaZa will deliver a Seventy-Five Percent (75%) to Seventy-Two Percent
(72%) NRI in the Subject Leases using the above parameters. This Reserved Overriding
Royalty Interest is to be reserved in favor of ZaZa in all leasehold obtained
with respect to this agreement, but it will be proportionately reduced in any
leasehold to which the parties to this Agreement own less than One Hundred Percent
(100%) of the Working Interest. 

        2.13.       
"Seismic Data" means, with respect to each separate and distinct seismic
operation on the Prospect Areas, the final gained and ungained migrated three
dimensional survey (or two dimensional) stack data obtained in connection with
the Exploration Program. 

        2.14.        "Subject
Leases" means the Oil, Gas and Mineral Leases covering portions of the Prospect
Areas acquired or to be acquired in connection with exploration efforts identified
pursuant to this Agreement. Assignments to the Subject Leases shall be made to
the Parties prior to or in conjunction with their sale to a third party. 

        2.15.        "Wells"
means all wells drilled on the Subject Leases, and completed either as a producer
or plugged and abandoned as a dry hole. 

        2.16.       
"Working Interest" means the cost-bearing leasehold estate and working interest
in and to the Subject Leases held by the Parties, subject to applicable participation
elections: 

        2.17.        "ZaZa
Energy, LLC ("ZaZa")" has the meaning ascribed in the preamble to this Agreement,
with a mailing address of 600 Leopard St., Suite 2100, Corpus Christi, Texas 78473.

III. Program Operations and Costs 

        3.1.         Exploration
Program. ZaZa as Operator of Record will conduct the Exploration Program across
the Prospect Areas and REOS, as Contract Operator, will conduct operations on
the Hackberry Creek Project. As compensation for ZaZa's efforts and expertise,
ReoStar shall issue to ZaZa Twelve Million (12,000,000) shares of ReoStar common
stock (the "Shares"), with the certificate evidencing the Shares registered in
the name of ZaZa on the books and records of ReoStar, and pay ZaZa an overhead
payment of One Million Five Hundred Thousand Dollars ($1,500,000) per year for
three (3) years payable at Three Hundred Seventy-Five Thousand ($375,000) per
quarter with the first payment due upon Closing as payment for the second quarter
of 2009. This Exploration and Development Agreement can be extended beyond the
three year period by mutual written consent of the Parties. 

        All Exploration and Development
costs for the Prospect Areas after acquisition of the Subject Leases shall be
paid by Parties in accordance with their respective Working Interests. The Contract
Operator shall invoice or AFE the Parties in accordance with the JOA. 

        3.2.        
"ZaZa Energy LLC" shall use its best efforts to (a) obtain oil and gas
leases within the various Prospect Areas which Prospect Areas will be more particularly
defined with future Exhibit "B's attached hereto and made a part hereof. ZAZA
will use proceeds from an independent land bank to obtain oil and gas leases within
the various Prospect Areas. 

        3.3.        
"ReoStar Energy Corporation" shall have the right but not the obligation
to acquire interests in the Subject Leases for up to Ninety-Nine Percent (99%)
Working Interest, subject, however, to ZaZa's right (but not the obligation) to
participate in up to a 50% working interest in the Subject Leases. ZaZa will retain
not less than a One Percent (1%) Working Interest 

 

in each Prospect Area. Leasehold costs are set at a prearranged
per acre cost to ReoStar of Eight Hundred Fifty Dollars ($850). As lease costs
increase in the Project Area this prearranged cost per acre shall be increased
upon mutual consent. In no circumstance shall acreage be delivered for less than
the actual lease bonus cost. ZaZa shall identify areas available for lease and
if for any reason ZaZa offers ReoStar acreage and ReoStar declines to participate
ZaZa shall be free to pursue said acreage for its own account. 

        3.4.         Confidentiality.
The Parties agree to keep the information obtained from the Exploration Program
strictly confidential and agree that no Party shall disclose, in whole or in part,
any such information to any third party without the other's prior written consent.
It is agreed that the Parties may disclose the information to the following persons
only to the extent necessary to evaluate the participation in acquiring leases
and drilling a well or wells thereon: (a) the Parties' (and their affiliates'
and nominees') employees, officers and directors who need to examine the information
for purposes of evaluation; (b) any professional consultant retained for the purpose
of evaluating the information; (c) their respective partner(s) (or prospective
partners) in a Prospect area or non-consent acreage; or (d) any lender financing
the Parties' participation in the potential acquisition or drilling, including
any professional consultant retained by the lender for purposes of evaluating
the information. In any event, the disclosing party shall be responsible for ensuring
that any party to whom the information is disclosed shall keep the information
confidential in accordance with this provision. ReoStar recognizes that ZaZa has
prior activities, leases, and AMIs as of the date of this Agreement in the Eagleford
Shale Area and that ZaZa has ongoing projects to sell in the Area. Therefore,
ReoStar agrees to release ZaZa from the confidentiality provisions of this Agreement
to the extent necessary to allow ZaZa to perform its normal business activities
with regard to these pre-existing prospects. 

        3.5.         Prospect
Area. The Parties acknowledge that opportunities to expand the confines of
the Prospect Area beyond that depicted on Exhibit "A" may be presented as the
Exploration Program progresses as provided in Section 4.1 below. In connection
therewith, if and to the extent the Parties agree at any time to expand the definition
of the Prospect Area so as to include lands contiguous to, or in the vicinity
of, the lands outlined and depicted on Exhibit "A", the Parties further agree
to amend, modify and supplement this Agreement by replacing Exhibit "A" with one
or more revised exhibits reflecting such expanded Area. 

        3.6.        
Seismic Rights Acquired. The Parties agree that any lease, seismic option,
seismic permit, farmout agreement, shoot-to-earn agreement, or other contractual
rights to shoot seismic surveys over the Prospect Areas that are acquired by any
Party hereafter, directly or indirectly (through any individual or entity associated
or affiliated with such party) during the period commencing with the date of this
Agreement and ending when all Seismic Data has been received, shall be subject
to and become a part of the subject matter covered by this Agreement. In that
regard, the ownership interests in the acquired interest or rights, and responsibility
for the acquisition costs thereof shall be determined in accordance with the remainder
of this Agreement. 

        3.7.        
Existing AMI Areas. The Parties acknowledge that they have existing AMI
areas within the Exploration Program area with third parties. The Parties agree
these areas are exempt from the provisions of Section 3 otherwise applicable
to the lands covered by this Agreement. Furthermore, the Parties agree that this
Exploration Program is intended to explore and exploit 

the newly developing Eagleford Shale Trend and not other potential
targets in the Project Area. The Parties shall be free to explore and exploit
all other existing trends within the Project Area. 

IV. Prospect Areas and Wells 

        4.1.         Prospect
Identification. For a period commencing from the date of this Agreement ending
three (3) years from the date hereof, the Parties shall identify separate "Prospect
Areas" within the Eagleford Shale Area from the data obtained for the joint benefit
of the Parties. For purposes hereof. Prospect Area means a defined geographic
area covering a Prospect identified hereunder. Each Party will have the option
to participate in acquiring Subject Leases covering the Prospect Area in accordance
to Section 2.6 and subject to Section 4.2 below. The Parties electing
to participate in a Prospect Area agree to execute a separate Operating Agreement
in the form of Exhibit "C", as to such Prospect Area. 

        4.2.         Area
of Mutual Interest. The Parties agree to create an Area of Mutual Interest
("AMI") comprising all of the lands identified as a separate Prospect Area under
the terms of Section 4.1 above, which shall be memorialized by separate
agreement and included within the provisions of a separate JOA for each separate
Prospect Area. The term of the AMI as to each separate Prospect Area shall expire
three (3) years from the date of such separate agreement or when all leases owned
by any of the Parties expire within the AMI boundary, whichever is longer. During
the term of the AMI and within the AMI, if any party hereto (the "Acquiring Party")
acquires any oil and gas leasehold interest, unleased mineral interest, or the
right to earn any such interest, directly or indirectly (through any individual
or entity associated or affiliated with such party), the Acquiring Party shall,
within fifteen (15) days following such acquisition, notify the other parties
to this AMI provision, or a counterpart thereof (the "Offerees") of such acquisition.
The notice from the Acquiring Party to the Offerees shall include a copy of all
instruments of acquisition and any other pertinent available data, and an itemized
statement of the actual costs and expenses incurred by the Acquiring Party in
acquiring such interest, excluding, however, costs and expenses of its own personnel.
Each Offeree shall have fifteen (15) days after the receipt of such notice within
which to notify the Acquiring Party of its election to acquire its proportionate
interest in the interest acquired by the Acquiring Party. The proportionate interests
will be based upon the Parties' respective Working Interests, either before or
after Project Payout (giving effect to ZaZa's After Payout Working Interest),
as the case may be, but subject to the Reserved Overriding Royalty Interests of
ZaZa as set out in Section 2.10. If the Acquiring Party has not received
actual notice of the election of an Offeree to acquire its proportionate interest
within the 15-day period, it shall be conclusively presumed that the Offeree has
rejected the offer. If an Offeree notifies the Acquiring Party within the aforesaid
time period of its election to purchase its proportionate interest in the interest
acquired, the Acquiring Party shall promptly invoice the Offeree for its proportionate
part of the actual third party costs incurred in the acquisition, along with a
written agreement whereby the Offeree assumes its proportionate share of all terms,
conditions, provisions, obligations and liabilities assumed by the Acquiring Party
in connection with such acquisition. Notwithstanding any of the foregoing, however,
if a well is being drilled within the AMI at the time of acquisition, the result
of which could affect the value of the interest so acquired, the Acquiring Party
shall so advise the Offerees, and the election to acquire a proportionate interest
in the acquired interest must be made within forty-eight (48) hours after receipt
of such notice. Failure of an Offeree to timely respond in either case to the

Acquiring Party shall be conclusively deemed an election by such party not to
acquire its proportionate interest in the acquired interest. In the event one
or more of the parties to this AMI provision, or a counterpart thereof, should
elect not to acquire its proportionate interest in such acquisition, or should
fail to timely exercise its option, then such Offeree will be deemed to have forfeited
all right, title and interest in and to the acquired interest, except that ZaZa's
Reserved Overriding Royalty Interest and After Payout Working Interest shall always
apply. The original Acquiring Party shall, promptly after the expiration of the
response period, notify each of the Parties who have elected to acquire an interest
that the non-electing Party or Parties named in the notice have failed or refused
to exercise their option. Each of the Parties so notified and the original Acquiring
Party shall have the option for forty-eight (48) hours (exclusive of Saturday,
Sunday and legal holidays) after receipt of such second notice to acquire the
remaining interest in the proportion that the interest of each such Party bears
to the total interest of all parties hereto desiring to acquire the remaining
interest. Should one of the Parties electing to share in the acquisition in the
first instance elect not to acquire any additional interest, such remaining interest
shall again be offered to the other Parties and shared in the same manner as provided
in the immediately preceding sentence. Promptly upon determination of the proportionate
ownership of such acquisition, the Parties electing to participate therein shall
pay the Acquiring Party their respective proportionate share of the total cost
thereof. 

        If an Offeree elects to acquire
its proportionate interest and assumes its obligations, as hereinabove set forth,
the Acquiring Party shall, after such Offeree has paid the invoice amount and
executed and delivered the written agreement provided for above, execute and deliver
a written assignment in recordable form covering the Offeree's proportionate share
in the acquired interest, which assignment shall be made without any warranty
of title, express or implied, except to claims of all persons claiming or to claim
the same or any part thereof by, through or under the Acquiring Party, but not
otherwise. Such assignment shall also be made subject to the terms of this Agreement.

        4.3.         Test
Wells. Drilling and completion operations on the first well (or substitute
therefore) commenced on each separate Prospect Area which two or more of the Parties
have elected to acquire in accordance with this Agreement, will be conducted in
accordance with the JOA executed in connection therewith, including without limitation,
the non-consent penalty provisions. Such provisions provide, in part, that Parties
electing, or deemed to elect, not to participate in the drilling of an initial
test well (or substitute therefore), will release, relinquish and forfeit all
right, title and interest in and to such Prospect Area; provided, however, in
the case of ZaZa as the non-participant, the Reserved Overriding Royalty Interest
and the After Payout Working Interest will remain applicable to such Prospect
Area. 

        4.4.         After
Prospect Payout. From and after the point in time Prospect Payout has been
reached, ZaZa will be entitled to all revenues, and responsible for all expenses,
attributable to its respective After Payout Working Interest in and to the Subject
Leases comprising such distinct Prospect Area. ZaZa shall have the right but not
the obligation to payoff its outstanding payout balance and be vested in its After
Payout Working Interest at any time. 

V. Operating Agreement 

        The Parties agree to be bound
by the terms of the JOA attached as "Exhibit C", naming REOS as "Operator", for
the purposes of the JOA document, and referred to herein as Contract Operator,
covering operations conducted with respect to each Prospect Area, including Operations
on the Hackberry Creek Prospect. In the event of a conflict between the terms
and provisions of this Agreement and the JOA, the terms of this Agreement shall
control. A separate JOA shall be executed with respect to each distinct Project
Area, as such Project Areas are developed under the Exploration Program. 

VI. Relationship of the Parties 

        It is not the purpose nor intention
of this Agreement to create, and this Agreement shall never be construed as creating,
a joint venture, mining partnership, or other relationship by and between the
Parties whereby any Party shall be held liable for the acts, either of omission
or commission, of any other Party hereto. The rights and liabilities of the Parties
hereunder shall be several and not joint or collective. 

VII. Miscellaneous 

        7.1.         Exhibits.
The exhibits attached hereto are hereby incorporated herein and made a part hereof
for all purposes. 

        7.2.         Binding
Effect. This Agreement will be binding upon the parties hereto, their successors
and assigns. The AMI provisions hereof constitute covenants running with the land.

        7.3.         Complete
Agreement. This Agreement supersedes any and all other agreements, either
oral or in writing, between the parties hereto with respect to the subject matter
hereof and contains all of the covenants and agreements between the parties with
respect to said matter. Time is of the essence in this Agreement. 

        7.4.         Amendment.
No change, modification, or alteration of this Agreement shall be binding upon
any Party unless made in writing and executed by all Parties. 

        7.5.         Construction.
This Agreement shall be construed in accordance with and governed in all respects
by the laws of the State of Texas. This Agreement shall be deemed to have been
executed in Corpus Christi, Texas, and all payments hereunder shall be deemed
payable in Nueces County, Texas. 

        7.6.         Notices.
Any and all notices, requests, consents or other communications permitted or required
to be given under the terms of this Agreement shall be in writing and shall be
deemed received (a) if given by electronic transmission, when transmitted if transmitted
on a business day and during normal business hours of the recipient, and otherwise
on the next business day following transmission, (b) if given by certified mail,
return receipt requested, postage prepaid, three (3) business days after being
deposited in the United States mails and (c) if given by Federal Express service
or other means, when received or personally delivered. 

        7.7.        
Arbitration. All disputes, controversies, or claims that may arise among
the parties relating to this Agreement will be submitted to, and determined by,
binding arbitration. The arbitration will be conducted before a single arbitrator
pursuant to the Commercial Arbitration Rules then in effect of the American Arbitration
Association. Exclusive venue for the arbitration will be in Nueces County, Texas.
The arbitrator will apply the laws of the State of Texas (without regard to conflict
of law rules) to the dispute, controversy, or claim. Evidentiary questions will
be governed by the Texas Rules of Evidence. The arbitrator's award will be in
writing and shall set forth findings and conclusions upon which the arbitrator
based the award. The prevailing party in the arbitration will be entitled to recover
its reasonable attorneys' fees, costs, and expenses incurred in connection with
the arbitration, as determined by the arbitrator. Any award pursuant to the arbitration
will be final and binding upon the parties and judgment on the award may be entered
in any federal or state court sitting or located in Nueces County, Texas, or in
any other court having jurisdiction. The provisions of this Section will survive
the termination of this Agreement. Notwithstanding the foregoing, this Section
will not prevent any party from seeking injunctive relief from a court of competent
jurisdiction under appropriate circumstances, provided, however, such action will
not constitute a waiver of the provisions of this Section. 

VIII. REPRESENTATION, WARRANTIES AND COVENANTS OF REOSTAR.
  

ReoStar hereby represents, warrants, and covenants to ZaZa as follows: 

        8.1.         Organization,
Good Standing and Qualification. ReoStar is duly organized, validly existing
and in good standing under the laws of the State of Nevada and is qualified to
do business and in good standing in the State of Texas. ReoStar has all requisite
corporate power and authority to execute and deliver this Agreement, to issue,
sell and deliver the Shares, and to carry out the provisions of this Agreement.

        8.2.         Capitalization.
The authorized capital stock of ReoStar, as of the date hereof and immediately
prior to the Closing, will consist of Two Hundred Million (200,000,000) shares
of common stock, of which Eighty Million One Hundred Eighty-One Three Hundred
Ten (80,181,310) shares are issued and outstanding. As of the Closing Date, there
are warrants to purchase approximately Twelve Million Five Hundred Thousand (12,500,000)
shares of common stock with various exercise strike prices. ReoStar's Board of
Directors has approved the 2008 Long-Term Incentive Plan whereby ReoStar reserved
Eight Million (8,000,000) shares of common stock for issuance under the plan.
The Board has also approved the grant of options to purchase One Million Five
Hundred Thousand (1,500,000) shares of common stock to certain officers under
the plan. There are no other outstanding options, warrants, rights (including
conversion or preemptive rights and rights of first refusal), proxy or stockholder
agreements, or agreements of any kind for the purchase or acquisition from ReoStar
of any of its securities or which are convertible into or exercisable for securities
of ReoStar, other than the rights set out in Section 3.1 of this Agreement.
As of the Closing Date, the Shares shall be validly issued, fully paid and nonassessable,
and are free of any restrictions, limits, claims, liens or other encumbrances;
provided, however, that the Shares may be subject to restrictions on transfer
under state and/or federal securities laws as set forth herein or as otherwise
required by such laws at the time a transfer is proposed. The sale of the Shares
to ZaZa is not subject to any preemptive or similar rights or rights of first
refusal that have not been properly waived or complied with. ZaZa shall
have the Tag-Along and Piggy Back Rights set out in Sections 8.5 and 8.6
below. 

        8.3.         Authorization;
Binding Obligations. The Agreement, when executed and delivered, will be a
valid and binding obligation of ReoStar enforceable in accordance with its terms,
except (a) as limited by applicable bankruptcy, insolvency, reorganization, moratorium
or other laws of general application affecting enforcement of creditors' rights
and (b) general principles of equity that restrict the availability of equitable
remedies. 

        8.4.         Offering
Valid. Assuming the accuracy of the representations and warranties of the
ZaZa hereof, the offer, sale and issuance of the Shares, will be exempt from the
registration requirements of the Securities Act of 1933 and will have been registered
or qualified (or are exempt from registration and qualification) under the registration,
permit or qualification requirements of all applicable state securities laws.

        8.5.         Tag-Along
Rights. If one or more of ReoStar's shareholders, after ninety (90) days of
the date of this Agreement, enters into a contract to sell shares of ReoStar equal
to more than Fifty Percent (50%) of the then issued and outstanding shares of
ReoStar, ReoStar shall promptly give notice thereof (the "Significant Disposition
Notice") to ZaZa. The Significant Disposition Notice shall set forth all relevant
information with respect to the proposed sale, including the name and address
of the prospective acquirer, the purchase price for the shares, and the payment
terms therefor, and any other terms and conditions of the proposed sale. Pursuant
to the Significant Disposition Notice, ReoStar shall cause its selling shareholders
to offer ZaZa the option of selling a portion of its shareholding in ReoStar either
to the shareholders wishing to dispose of their shares or to the proposed acquirer
of such shareholders' shares. ReoStar and its selling shareholders shall determine
which of these options to pursue and ZaZa shall be given the right to sell the
proportion of its shares equal to the proportion of the issued and outstanding
shares of ReoStar that are proposed to be sold in this transaction at the same
price and on the same terms as set forth in the Significant Disposition Notice.
ZaZa shall have thirty (30) days from receipt of its Significant Disposition Notice
to determine whether or not to participate in the sale. ReoStar will establish
reasonable procedures, in addition to those specified herein, in order to implement
the provisions of this Section 8.5 and will use its reasonable efforts
to cause its shareholders to comply with this Section. 

        8.6.         Piggy-Back
Registration. If ReoStar proposes to file a registration statement under the
Securities Act with respect to an offering by ReoStar for itself or for the account
of any other person or entity of any class of the equity securities of ReoStar,
then ReoStar shall give ZaZa at least twenty (20) days' notice of such sale and
offer ZaZa the opportunity to register a portion of its shares in ReoStar in connection
with this offering (a "Piggy-Back Registration"). ReoStar shall use its reasonable
efforts to cause the managing underwriter or underwriters of a proposed offering
to include in the registration the number or amount of shares requested to be
included by ZaZa on the same terms and conditions as any similar securities of
ReoStar are included therein. Notwithstanding the foregoing, if the managing underwriter
or underwriters of the offering deliver an opinion to ZaZa that the total amount
of securities which ZaZa and any other persons including the company intend to
include in such offering is sufficiently large to materially and adversely affect
the success of the offering, then the amount of registerable securities to be
offered for ZaZa shall be reduced pro rata to the extent necessary, in the opinion

of the managing underwriter, to reduce the total amount of securities to be included
in the offering to the amount recommended by the managing underwriter. The managing
underwriter shall have the final determination as to how many of the company's
securities and those of other parties including ZaZa will be included in the offering,
provided only that no party other than the company will be preferred on a more
substantial pro rata basis than ZaZa. All expenses of any such registration will
be borne by ReoStar except that the fees and expenses of legal counsel for ZaZa
shall be for the account of ZaZa. ZaZa may not participate in any underwritten
registration hereunder unless ZaZa (a) agrees to sell its shares on the terms
of and on the basis provided in any underwriting arrangements approved by ReoStar,
and (b) completes and executes all questionnaires, powers of attorney, indemnities,
underwriting agreements and other documents reasonably required under the terms
of the underwriting arrangement. 

IX. REPRESENTATIONS, WARRANTIES, AND
  COVENANTS OF ZAZA 

        Except as specifically set forth
on the disclosure schedules delivered by ZaZa to ReoStar (the parts of which are
numbered to correspond to the individual section numbers of this Section 9,
ZaZa hereby represents, warrants, and covenants to ReoStar as follows: 

        9.1.         Requisite
Power and Authority. ZaZa has all necessary power and authority under all
applicable provisions of law to execute and deliver this Agreement and to carry
out its provisions. All action on ZaZa's part required for the lawful execution
and delivery of this Agreement has been or will be taken prior to the Closing.
Upon its execution and delivery, this Agreement will be a valid and binding obligation
of the ZaZa, enforceable in accordance with its terms, except (a) as limited by
applicable bankruptcy, insolvency, reorganization, moratorium or other laws of
general application affecting enforcement of creditors' rights and (b) general
principles of equity that restrict the availability of equitable remedies. ZaZa
represents that it has obtained all necessary consents and/or approvals of all
of its partners to enter into this Agreement and to perform its obligations set
forth hereunder. 

        9.2.         No
Conflict. The execution, delivery and performance by ZaZa of this Agreement
and the consummation of the transactions contemplated hereby do not and will not:
(i) violate or conflict with any provision of the charter documents or bylaws
of ZaZa; (ii) violate any provision or requirement of any domestic or foreign,
national, state, or local law, statute, judgment, order, writ, injunction, decree,
award, rule, or regulation of any governmental entity applicable to ZaZa; (iii)
violate, result in a breach of, constitute (with due notice or lapse of time or
both) a default or cause any obligation, penalty, premium or right of termination
to arise or accrue under any contract; (iv) result in the creation or imposition
of any lien, charge or encumbrance of any kind whatsoever upon any of the properties
or assets of ZaZa; and (v) result in the cancellation, modification, revocation
or suspension of any license, permit, certificate, franchise, authorization or
approval issued or granted by any governmental entity. 

        9.3.         Consents.
All consents and notices required to be obtained or given by or on behalf of ZaZa
before consummation of the transactions contemplated by this Agreement in compliance
with all applicable laws, rules, regulations, orders or governmental or other
agency directives, or the provisions of any document binding upon ZaZa are described
on Schedule 9(3) and all such consents have been duly obtained and are in full
force and effect. 

        9.4.         Books
and Records. ZaZa has maintained its books, records and files accurately and
in accordance with generally accepted industry standards and all books, records
and files are in ZaZa's possession and the accounting records have been maintained
in accordance with generally accepted accounting principles consistently applied.

        9.5.         Basic
Documents. (i) All Basic Documents to which ZaZa is a party or by which they
are bound are in full force and effect and are the valid and legally binding obligations
of the ZaZa and are enforceable in accordance with their respective terms; (ii)
ZaZa is not in breach of default with respect to any of their material obligations
pursuant to any such basic document or any regulations incorporated therein or
governing same; (iii) all payments including, without limitation, royalties, and
valid calls under unit or joint operating agreements due thereunder have been
made by ZaZa; (iv) to the knowledge of ZaZa, no other party to any such Basic
Documents (or any successor in interest thereto) is in breach of default with
respect to any of its obligations thereunder; (v) there has not occurred any event,
fact or circumstance which, with the lapse of time or the giving of notice, or
both, would constitute such a breach or default on behalf of ZaZa, or to the knowledge
of ZaZa with respect to any other party; and (vi) neither ZaZa or any other party
to any Basic Document have given or threatened to give notice of any action to
terminate, cancel, rescind or procure a judicial reaffirmation of any such Basic
Document or any material provision thereof. 

        9.6.         Legal
Proceedings. Except as shown in Schedule 9.6, there is no suit, action, claim,
investigation by any person or entity or by any administrative agency or governmental
body, and no legal administrative or arbitration proceeding pending or, to ZaZa's
best knowledge, threatened against ZaZa which has materially adversely affected
or may so affect the performance of ZaZa. 

        9.7.         Investment
Representations. ZaZa understands that the Shares have not been registered
under the Securities Act of 1933, as amended (the "Securities Act"). ZaZa also
understands that the Shares are being offered and sold pursuant to an exemption
from registration under the Securities Act based in part upon ZaZa's representations
contained in this Agreement. ZaZa hereby further represents and warrant as follows:

	 	        a.
              ZaZa Bears Economic Risk.
      ZaZa has substantial experience in evaluating and investing in private transactions
      of securities in companies similar to the ReoStar so that it is capable
      of evaluating the merits and risks of its investment in ReoStar and has
      the capacity to protect its own interests. ZaZa must bear the economic risk
      of this investment indefinitely unless the Shares are registered pursuant
      to the Securities Act, or an exemption from registration is available. ZaZa
      also understands that there is no assurance that any exemption from registration
      under the Securities Act will be available and that, even if available,
      such exemption may not allow ZaZa to transfer all or any 
      portion of the Shares under the circumstances in the amounts or at the times
      ZaZa might propose.

 

	 	        b.
              Acquisition for own Account.
      ZaZa is acquiring the Shares for ZaZa's own account for investment only,
      and not with a view towards their distribution within the meaning of the
      Securities Act. 

      

              c.         ZaZa
      Can Protect Its Interest. ZaZa represents that by reason of ZaZa's business
      or financial experience, ZaZa has the capacity to protect ZaZa's own interests
      in connection with the transactions contemplated in this Agreement. 

      

              d.         ReoStar
      Information. ZaZa has had an opportunity to discuss the ReoStar's business,
      management and financial affairs with directors, officers and management
      of ReoStar and have had the opportunity to review the ReoStar's operations
      and facilities. ZaZa has also had the opportunity to ask questions of and
      receive answers from ReoStar and its management regarding the terms of this
      transaction. 

      

              e.         Rule
      144. ZaZa acknowledges and agrees that the Shares must be held indefinitely
      unless they are subsequently registered under the Securities Act or an exemption
      from such registration is available. ZaZa has been advised or is aware of
      the provisions of Rule 144 promulgated under the Securities Act as in effect
      from time to time, which permits limited resale of shares purchased in a
      private transaction subject to the satisfaction of certain conditions, including,
      among other things: the availability of certain current public information
      about ReoStar (which ReoStar has agreed to properly prepare and file from
      time to time as required for at least the four (4) year period following
      the date of this Agreement), the resale occurring following the required
      holding period under Rule 144 promulgated under the Securities Act and the
      number of shares being sold during any three-month period not exceeding
      specified limitations. 
	 	 

 

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  left blank) 

  

  

  

  

  

  

        IN WITNESS WHEREOF, the parties
have executed this agreement as of the date first above written. 

ZAZA ENERGY, LLC

a Texas Limited Liability Company 

By: ___________________________ 

Name: Gaston Kearby 

Title: Manager 

By: ___________________________ 

Name: Todd Brooks 

Title: Manager 

By: ___________________________ 

Name: John Hearn 

Title: Manager 

REOSTAR ENERGY CORPORATION 

a Nevada Corporation 

By: ___________________________ 

Name: Mark S. Zouvas 

Title: Chief Executive Officerexhibit4-1.htm

 

Exhibit 4.1

 

 

 

 

 

AMENDMENT AND RESTATEMENT AGREEMENT dated as of July 16, 2009 (this “Agreement”), to the Credit Agreement dated as of June 9, 2008 (as modified and supplemented prior to the date hereof, the “Original
Credit Agreement”), among PLY GEM HOLDINGS, INC., a Delaware corporation (“Holdings”), PLY GEM INDUSTRIES, INC., a Delaware corporation (the “Specified U.S. Borrower”), CWD WINDOWS AND DOORS, INC., a Canadian corporation (the “Canadian Borrower” and, together with
the Specified U.S. Borrower, the “Borrowers”), the Subsidiaries of the Specified U.S. Borrower from time to time party thereto as borrowers and guarantors (the “Subsidiary Guarantors” and, together with Holdings and the Borrowers, the “Reaffirming Parties”), each lender from time to
time party thereto (the “Lenders”), CREDIT SUISSE, CAYMAN ISLANDS BRANCH, as Administrative Agent (in such capacity, the “Administrative Agent”), U.S. Swing Line Lender and U.S. L/C Issuer, GENERAL ELECTRIC CAPITAL CORPORATION, as Collateral Agent (in such capacity, the “Collateral Agent”),
CREDIT SUISSE, TORONTO BRANCH (“CS Toronto”), as Canadian Swing Line Lender and Canadian L/C Issuer, and the other agents party thereto.

 

A. Pursuant to the Original Credit Agreement, the Lenders have extended, and have agreed to extend, credit to the Borrowers.

 

B. The Borrowers have requested that the Original Credit Agreement be amended and restated in the form of the Amended and Restated Credit Agreement attached hereto as Exhibit A (the “Amended
and Restated Credit Agreement”) to, among other things, modify the terms and conditions of the Original Credit Agreement to allow the U.S. Borrowers to increase the Revolving Credit Commitments.

 

C. Each of the Reaffirming Parties is party to one or more of the Guaranties, the Collateral Documents and the Intercreditor Agreement (collectively, the “Security Documents”),
pursuant to which, among other things, the Reaffirming Parties Guaranteed the Obligations (or, in the case of the Canadian Loan Parties, the Canadian Obligations) of the Borrowers under the Original Credit Agreement and provided security therefor.

 

D. Each Reaffirming Party is willing to reaffirm its obligations under the Security Documents.

 

E. For purposes of this Agreement, the following capitalized terms used but not defined in this Agreement shall have the meanings given them in the Original Credit Agreement:  Collateral Documents, Guaranties, Intercreditor
Agreement, Loan Documents and Supermajority Lenders.  All other capitalized terms used but not defined herein shall have the meanings given them in the Amended and Restated Credit Agreement.

 

 

 

 

 

 

Accordingly, the parties hereto hereby agree as follows:

 

SECTION 1. Amendment and Restatement of the Original Credit Agreement.  The Borrowers, Holdings, the Administrative Agent, the Collateral Agent, CS Toronto and the Supermajority
Lenders agree that the Original Credit Agreement shall be amended and restated on the Restatement Effective Date (as hereinafter defined) such that, on the Restatement Effective Date, the terms set forth in Exhibit A hereto shall replace and supersede the terms of the Original Credit Agreement with respect to the Loans and Letters of Credit outstanding under the Original Credit Agreement.  As used in the Amended and Restated Credit Agreement, the terms “Agreement”, “this Agreement”,
“herein”, “hereinafter”, “hereto”, “hereof” and words of similar import shall, unless the context otherwise requires, from and after the Restatement Effective Date, mean the Amended and Restated Credit Agreement.  As used in any other Loan Document, from and after the Restatement Effective Date, all references to the Credit Agreement in such Loan Documents shall, unless the context otherwise requires, mean the Amended and Restated Credit Agreement.

 

SECTION 2. Reaffirmation.  Each Reaffirming Party, by its signature below, hereby (a) agrees that, notwithstanding the effectiveness of this Agreement or the Amended and
Restated Credit Agreement, the Security Documents continue to be in full force and effect, (b) affirms and confirms its Guarantee of the Obligations (or, in the case of the Canadian Loan Parties, the Canadian Obligations) and the pledge of and/or grant of a security interest in its assets as Collateral to secure such Obligations, all as provided in the Security Documents as originally executed, and acknowledges and agrees that such Guarantee, pledge and/or grant continue in full force and effect in respect of,
and to secure, such Obligations under the Amended and Restated Credit Agreement and the other Loan Documents and (c) affirms and confirms that all the representations and warranties made by or relating to it contained in the Amended and Restated Credit Agreement and the other Loan Documents are true and correct in all material respects (or in all respects in the case of any representations and warranties qualified by materiality) on and as of the Restatement Effective Date, except to the extent such representations
and warranties expressly relate to an earlier date, in which case they were true and correct in all material respects (or in all respects in the case of any representations and warranties qualified by materiality) as of such earlier date.

 

SECTION 3. Representations and Warranties. To induce the other parties hereto to enter into this Agreement, each of Holdings and each Borrower represents and warrants to each of
the other parties hereto, that, at the time of and immediately after giving effect to this Agreement:

 

(a) The representations and warranties contained in Article V of the Amended and Restated Credit Agreement and in each other Loan Document are true and correct in all material
respects (or in all respects in the case of any representations and warranties qualified by materiality) on and as of the Restatement Effective Date, except to the extent such representations and warranties expressly relate to an earlier date, in which case they were true and correct in all material respects (or in all respects in the case of any representations and warranties qualified by materiality) as of such earlier date; and

 

(b) No Event of Default or Default has occurred and is continuing.

 

 

 

2

 

 

SECTION 4. Applicable Law. THIS AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK.

 

SECTION 5. No Novation. Neither this Agreement nor the effectiveness of the Amended and Restated Credit Agreement shall extinguish the Obligations for the payment of money outstanding
under the Original Credit Agreement or discharge or release the Lien or priority of any Loan Document or any other security therefor or any guarantee thereof, and the liens and security interests in favor of the Collateral Agent for the benefit of the Secured Parties securing payment of the Obligations are in all respects continuing and in full force and effect with respect to all Obligations.  Nothing herein contained shall be construed as a substitution or novation, or a payment and reborrowing, or
a termination, of the Obligations outstanding under the Original Credit Agreement or instruments guaranteeing or securing the same, which shall remain in full force and effect, except as modified hereby or by instruments executed concurrently herewith.  Nothing expressed or implied in this Agreement, the Amended and Restated Credit Agreement or any other document contemplated hereby or thereby shall be construed as a release or other discharge of the Borrowers under the Original Credit Agreement or
the Borrowers or any other Loan Party under any Loan Document from any of its obligations and liabilities thereunder, and such obligations are in all respects continuing with only the terms being modified as provided in this Agreement and in the Amended and Restated Credit Agreement.  The Original Credit Agreement and each of the other Loan Documents shall remain in full force and effect, until and except as modified hereby.  This Agreement shall constitute a Loan Document for all purposes
of the Original Credit Agreement and the Amended and Restated Credit Agreement.

 

SECTION 6. Notices.  All notices hereunder shall be given in accordance with the provisions of Section 10.02 of
the Amended and Restated Credit Agreement.

 

SECTION 7. Counterparts.  This Agreement may be executed in counterparts (and by different parties hereto on different counterparts), each of which shall constitute an
original but all of which when taken together shall constitute a single contract, and shall become effective as provided in Section 9 hereof.  Delivery of an executed signature page to this Agreement by facsimile transmission shall be effective as delivery of a manually signed counterpart of this Agreement.

 

SECTION 8. Headings.  Section headings used herein are for convenience of reference only, are not part of this Agreement and are not to affect the construction of, or
to be taken into consideration in interpreting, this Agreement.

 

 

3

 

 

SECTION 9. Effectiveness; Amendment.  This Agreement and the Amended and Restated Credit Agreement shall become effective as of the date (the “Restatement
Effective Date”) on which (i) the Administrative Agent (or its counsel) shall have received counterparts of this Agreement that, when taken together, bear the signatures of (a) the Borrowers, (b) Holdings, (c) the Subsidiary Guarantors listed on Schedule I attached hereto, (d) the Administrative Agent, (e), the Collateral Agent, (f) CS Toronto and (g) the Supermajority Lenders, (ii) each of the conditions set forth in Sections 4.02(a) and (b) of
the Amended and Restated Credit Agreement shall be satisfied and the Administrative Agent shall have received a certificate to that effect, dated as of the Restatement Effective Date and signed by a Responsible Officer of the Specified U.S. Borrower, (iii) the Administrative Agent shall have received such customary legal opinions, board resolutions and other closing certificates and documentation as shall be reasonably requested by the Administrative Agent, in each case consistent with those delivered on the
Closing Date under Section 4.01 of the Original Credit Agreement and (iv) all fees and expenses due and payable to the Administrative Agent or any Lender on or prior to the Restatement Effective Date, including reimbursement or payment of all out-of-pocket expenses required to be reimbursed or paid by the Borrowers hereunder or under any other Loan Document, in each case to the extent invoiced no later than 11:00 a.m. on the Restatement Effective
Date, shall have been paid.

 

[Remainder of this page intentionally left blank]

  

4

  

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of the date first above written.

 

PLY GEM HOLDINGS, INC.,

as Holdings

 

 

	 By: 	  	
/s/Shawn K. Poe

	
Name:
	  	
Shawn K. Poe

	
Title:
	  	
Chief Financial Officer

 

 

 

PLY GEM INDUSTRIES, INC.,

as the Specified U.S. Borrower

 

	 By: 	  	
/s/Shawn K. Poe

	
Name:
	  	
Shawn K. Poe

	
Title:
	  	
Chief Financial Officer

 

 

CWD WINDOWS AND DOORS, INC.,

as the Canadian Borrower

 

	 By: 	  	
/s/Shawn K. Poe

	
Name:
	  	
Shawn K. Poe

	
Title:
	  	
Secretary

 

 

EACH OF THE SUBSIDIARIES LISTED ON SCHEDULE I-A HERETO, each as a Guarantor

 

	 By: 	  	
/s/Shawn K. Poe

	
Name:
	  	
Shawn K. Poe

	
Title:
	  	
Secretary of each of the above-referenced entities

 

 

 

Signature Page to Amendment and Restatement Agreement

 

 

 

5

 

 

NEW GLAZING INDUSTRIES, LTD.,

as a Guarantor

 

By:  Glazing Industries Management, L.L.C., its General Partner

 

	 By: 	  	
/s/Shawn K. Poe

	
Name:
	  	
Shawn K. Poe

	
Title:
	  	
Secretary of the General Partner

 

Signature Page to Amendment and Restatement Agreement

 

  

6

  

NEW ALENCO EXTRUSION, LTD.,

as a Guarantor

 

By:  Alenco Extrusion Management, L.L.C., its General Partner

 

	 By: 	  	
/s/Shawn K. Poe

	
Name:
	  	
Shawn K. Poe

	
Title:
	  	
Secretary of the General Partner

 

 

 

 

NEW ALENCO WINDOW, LTD.,

as a Guarantor

 

By:  Alenco Building Products Management, L.L.C., its General Partner

 

	 By: 	  	
/s/Shawn K. Poe

	
Name:
	  	
Shawn K. Poe

	
Title:
	  	
Secretary of the General Partner

 

 

Signature Page to Amendment and Restatement Agreement

 

  

7

  

CREDIT SUISSE, CAYMAN ISLANDS BRANCH, individually and

as Administrative Agent, U.S. Swing Line Lender and U.S. L/C Issuer

 

	 By: 	  	
/s/Robert Hetu

	
Name:
	  	
Robert Hetu

	
Title:
	  	
Managing Director

 

	 By: 	  	
/s/Christopher Reo Day

	
Name:
	  	
Christopher Reo Day

	
Title:
	  	
Associate

 

 

Signature Page to Amendment and Restatement Agreement

 

  

8

  

GENERAL ELECTRIC CAPITAL CORPORATION, individually and as Collateral Agent

 

	 By: 	  	
/s/William J. Kane

	
Name:
	  	
William J. Kane

	
Title:
	  	
Duly Authorized Signatory

 

Signature Page to Amendment and Restatement Agreement

 

  

9

  

CREDIT SUISSE, TORONTO BRANCH, as Canadian Swing Line Lender, Canadian L/C Issuer and Canadian Revolving Credit Lender

 

	 By: 	  	
/s/Alain Daoust

	
Name:
	  	
Alain Daoust

	
Title:
	  	
Director

 

	 By: 	  	
/s/Bruce F. Wetherly

	
Name:
	  	
Bruce F. Wetherly

	
Title:
	  	
Director, Credit Suisse, 

Toronto Branch

 

Signature Page to Amendment and Restatement Agreement

 

  

10

  

	
SIGNATURE PAGE TO AMENDMENT AND RESTATEMENT AGREEMENT DATED AS OF THE DATE FIRST ABOVE WRITTEN TO THE PLY GEM CREDIT AGREEMENT

 

 

 

	
Name of Lender:
	  	

 

Bank Midwest, N.A.

	
By:
	  	
/s/Damon K. Stelting

	
Name:         
	  	
Damon K. Stelting   

	 Title:	 	
 Vice President 

Commercial Lending

 

 

Signature Page to Amendment and Restatement Agreement

 

  

11

  

Schedule I

Subsidiary Guarantors

 

Schedule I-A

 

Great Lakes Window, Inc.

 

Kroy Building Products, Inc.

 

Napco, Inc.

 

Variform, Inc.

 

MWM Holding, Inc.

 

MW Manufacturers Inc.

 

AWC Holding Company

 

Alenco Holding Corporation

 

AWC Arizona, Inc.

 

Alenco Interests, L.L.C.

 

Alenco Extrusion Management, L.L.C.

 

Alenco Building Products Management, L.L.C.

 

Alenco Trans, Inc.

 

Glazing Industries Management, L.L.C.

 

Alenco Extrusion GA, L.L.C.

 

Aluminum Scrap Recycle, L.L.C.

 

Alenco Window GA, L.L.C.

 

Alcoa Home Exteriors, Inc.

 

Ply Gem Pacific Windows Corporation

 

  

12

  

Schedule I

Schedule I-B

 

 

New Alenco Extrusion, Ltd.

 

New Alenco Window, Ltd.

 

New Glazing Industries, Ltd.

 

  

13

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