Document:

Seventh Amendment and Waiver

 Exhibit 10.1 
 Execution Copy 
 SEVENTH AMENDMENT AND WAIVER 

 This SEVENTH AMENDMENT AND WAIVER (“Amendment”), dated as of March 18, 2010 (the “Effective
Date”), is by and among BWX Technologies, Inc. (the “Borrower”), Babcock & Wilcox Technical Services Group, Inc. (formerly known as BWXT Services, Inc.), BWXT Federal Services, Inc., Babcock & Wilcox
Nuclear Operations Group, Inc., NFS Holdings, Inc., Nuclear Fuel Services, Inc. and NOG-Erwin Holdings, Inc. (the “Guarantors”), the lenders from time to time party to the Credit Agreement described below (the
“Lenders”), and Crédit Agricole Corporate and Investment Bank (formerly known as Calyon New York Branch), as administrative agent for the Lenders (the “Administrative Agent”). 
 INTRODUCTION 
 WHEREAS, the Borrower, the Guarantors, the Lenders and the Administrative Agent are parties to that certain Revolving Credit Agreement dated as of December 9, 2003 as amended by the First Amendment to Revolving Credit Agreement dated
as of March 18, 2005, the Second Amendment to Revolving Credit Agreement dated as of November 7, 2005, the Third Amendment to Revolving Credit Agreement dated as of December 22, 2006, the Fourth Amendment to Revolving Credit Agreement
dated as of March 29, 2007, the Fifth Amendment dated as of October 29, 2007 and the Sixth Amendment dated as of December 11, 2008 (the “Credit Agreement”); 
 WHEREAS, the Borrower has provided the Lenders and the Administrative Agent with notice that on February 1, 2010, Nuclear Fuel
Services, Inc. received notice from ANI of cancellation of certain insurance provided by ANI (such cancellation of insurance being hereinafter referred to as the “Insurance Cancellation”); 
 WHEREAS, the Borrower has requested and the Administrative Agent and the Lenders have agreed to waive any Default or Event of Default that
may result from such Insurance Cancellation, all as more fully described herein; 
 WHEREAS, the Borrower has also requested and
the Administrative Agent and the Lenders have agreed to make certain amendments to the Credit Agreement described herein; 
 NOW
THEREFORE, in consideration of the premises and the mutual covenants, representations and warranties contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto
hereby agree as follows: 
 AGREEMENT 
 Section 1. Definitions. Unless otherwise defined in this Amendment, each term used in this Amendment that is defined in the Credit Agreement has the meaning assigned to such term in the Credit
Agreement. 
 Section 2. Amendment. The definition of “Maturity Date” in Section 1.1 of the Credit
Agreement is hereby amended in its entirety as follows: 
 “Maturity Date” means, the earlier of
(i) June 30, 2010 and (ii) the earlier termination in whole of the Commitments pursuant to Section 2.4 or Article VII. 

 Section 3. Waiver. The Administrative Agent and the Lenders hereby waive any
potential Default or Event of Default arising under Section 7.1(b) or 7.1(c) of the Credit Agreement as a result of any potential breach by the Borrower of Section 4.14 or 5.2 of the Credit Agreement to the extent, and only to the extent,
that such Default or Event of Default results from the Insurance Cancellation. Except as expressly set forth in this Section 3, nothing contained in this Amendment shall be construed as a consent or waiver by the Administrative Agent or any
Lender of any other covenant or provision of the Credit Agreement or the other Credit Documents, and the failure of the Administrative Agent or the Lenders at any time or times hereafter to require strict performance by the Borrower or any other
Credit Party of any provision thereof shall not waive, affect or diminish any rights of the Administrative Agent or the Lenders to thereafter demand strict compliance therewith. Nothing set forth herein shall constitute a course of dealing among the
parties, and neither the Administrative Agent nor the Lenders shall have any obligation to further amend, waive or modify any terms and provisions of the Credit Agreement or any of the other Credit Documents. 
 Section 4. Conditions to Effectiveness. This Amendment shall become effective as of the Effective Date when: 
 (a) the Administrative Agent shall have received counterparts hereof duly executed by the Borrower, the Guarantors, the Administrative Agent
and the Lenders; and 
 (b) the Borrower shall have paid to the Administrative Agent on or before March 18, 2010 for the
benefit of each Lender that delivers a signed counterpart of this Amendment on or before March 18, 2010 at 3:00 p.m. (New York time) (the “Approving Lenders”), a fee in the amount of 0.20% of each such Approving Lender’s
Commitment at the close of business on March 17, 2010. 
 Section 5. [Reserved]. 
 Section 6. Representations and Warranties. Each Credit Party jointly and severally represents and warrants as follows:

 (a) the execution, delivery, and performance of this Amendment are within the corporate power and authority of the Credit
Parties and have been duly authorized by appropriate proceedings; 
 (b) this Amendment constitutes legal, valid, and binding
obligations of the Credit Parties enforceable in accordance with its terms, except as limited by applicable bankruptcy, insolvency, reorganization, moratorium, or similar laws affecting the rights of creditors generally and general principles of
equity; 
 (c) the representations and warranties of the Credit Parties contained in the Credit Agreement and the other Credit
Documents are true and correct in all material respects on and as of the date hereof as though made on and as of the date hereof, except to the extent such representations and warranties relate solely to an earlier date; and 
  

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 (d) after giving effect to this Amendment, no event has occurred and is continuing which
constitutes an Event of Default or that with the passage of time would constitute an Event of Default. 
 Section 7.
Ratification. Except to the extent modified by this Amendment, the Credit Agreement and all other Credit Documents executed in connection therewith to which the Borrower or any other Credit Party is a party shall remain in full force and
effect, and all rights and powers created thereby or thereunder are in all respects ratified and confirmed. The Borrower and the Credit Parties agree that all obligations of the Borrower and each other Credit Party under the Credit Agreement as
modified by this Amendment and all other Credit Documents to which the Borrower or any other Credit Party is a party are hereby reaffirmed and renewed. 
 Section 8. Governing Law. This Amendment shall be governed by and interpreted in accordance with the laws of the State of New York. 
 Section 9. Counterparts. This Amendment may be executed in any number of counterparts and by different parties hereto in
separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. Delivery of an executed counterpart of a signature page to this Amendment by
facsimile shall be effective as delivery of an original executed counterpart of this Amendment. 
  

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 Executed as of the date first written above. 
  

			
	BORROWER:
	
	BWX TECHNOLOGIES, INC.
		
	By:	 	 /s/ Janet Duncan

		 	Janet Duncan
		 	Assistant Treasurer

 Signature Page
to Amendment 
 BWX Technologies, Inc. 

			
	CRÉDIT AGRICOLE CORPORATE AND INVESTMENT BANK (formerly known as Calyon New York Branch), as Administrative Agent and as a Lender
		
	By:	 	 /s/ Michael D. Willis

	Name:	 	Michael D. Willis
	Title:	 	Managing Director
		
	By:	 	 /s/ Page Dillehunt

	Name:	 	Page Dillehunt
	Title:	 	Managing Director

  

 Signature Page to Amendment 
 BWX Technologies, Inc. 

			
	THE BANK OF NOVA SCOTIA, as a Lender
		
	By:	 	 /s/ David G. Mills

	Name:	 	David G. Mills
	Title:	 	Managing Director

  

 Signature Page to Amendment 
 BWX Technologies, Inc. 

			
	WELLS FARGO BANK, N.A., as a Lender
		
	By:	 	 /s/ Alex Terzi

	Name:	 	Alex Terzi
	Title:	 	Vice President

  

 Signature Page to Amendment 
 BWX Technologies, Inc. 

			
	ALLIED IRISH BANKS, PLC, as a Lender
		
	By:	 	 /s/ Shreya Shah

	Name:	 	Shreya Shah
	Title:	 	Vice President

  

			
		
	By:	 	 /s/ Roisin O’Connell

	Name:	 	Roisin O’Connell
	Title:	 	Vice President

  

 Signature Page to Amendment 
 BWX Technologies, Inc. 

			
	COMPASS BANK, as a Lender
		
	By:	 	 /s/ Stuart Murray

	Name:	 	Stuart Murray
	Title:	 	Senior Vice President

  

 Signature Page to Amendment 
 BWX Technologies, Inc. 

			
	AMEGY BANK N.A., as a Lender
		
	By:	 	 /s/ Kenyatta B. Gibbs

	Name:	 	Kenyatta B. Gibbs
	Title:	 	Vice President

  

 Signature Page to Amendment 
 BWX Technologies, Inc. 

 ACKNOWLEDGMENT AND CONSENT 
 To induce the Administrative Agent and the Lenders to execute the foregoing Amendment, each of the undersigned Credit Parties hereby
(a) consents to the execution, delivery and performance of such Amendment, (b) agrees that (1) neither any Credit Document executed by it nor any obligation of any of the undersigned nor any right or remedy of the Administrative Agent
or any Lender with respect to any undersigned Credit Party is released or impaired by such Amendment, and (2) this acknowledgment and consent shall not be construed as requiring the consent or agreement of any undersigned Credit Party in any
circumstance, and (c) ratifies and confirms all provisions of the Credit Documents executed by it. 
  

			
	GUARANTORS:
	
	BABCOCK & WILCOX TECHNICAL SERVICES GROUP, INC.
		
	By:	 	 /s/ Janet Duncan

		 	 Janet Duncan

		 	Assistant Treasurer
	
	BWXT FEDERAL SERVICES, INC.
		
	By:	 	 /s/ Janet Duncan

		 	 Janet Duncan

		 	Assistant Treasurer
	
	BABCOCK & WILCOX NUCLEAR OPERATIONS GROUP, INC.
		
	By:	 	 /s/ Janet Duncan

		 	 Janet Duncan

		 	Assistant Treasurer
	
	NFS HOLDINGS, INC.
		
	By:	 	 /s/ Janet Duncan

		 	 Janet Duncan

		 	Assistant Treasurer

  

 Signature Page to Amendment 
 BWX Technologies, Inc. 

			
	NUCLEAR FUEL SERVICES, INC.
		
	By:	 	 /s/ Janet Duncan

		 	Janet Duncan
		 	Assistant Treasurer
	
	NOG-ERWIN HOLDINGS, INC.
		
	By:	 	 /s/ Janet Duncan

		 	 Janet Duncan 

		 	Assistant Treasurer

  

 Signature Page to Amendment 
 BWX Technologies, Inc.Employment Offer Letter

 Exhibit 10.38 

 

 

 John Butler 
 EVP, Human Resources 

 

 

 November 24, 2008 
  

	TO:	Mr. Edward L. Sutter 

  

	 	RE:	EMPLOYMENT OFFER 

 Dear Ed, 

We are pleased to confirm our offer for the position of Executive Vice President, Supply Chain Management, for Pinnacle Foods Group LLC
(“Pinnacle”), Mountain Lakes, NJ, at a bi-weekly salary of $13,461.53 (which equates to an annual salary of $350,000.00). You will report directly to Jeff Ansell, Chief Executive Officer. In addition to your base salary, you will be
eligible for participation in our Management Incentive Program, which is designed to provide incentive compensation to employees who make a substantial contribution to the success of the Company. Your bonus target is 75% of your base salary. Your
bonus payment is contingent on company performance and the achievement of personal performance targets recommended by Jeff, and approved by the Pinnacle Compensation Committee. 
 You will receive Profits Interests of 450 Units in the Pinnacle senior management equity plan and you will be subject to all of the
terms and conditions thereof. 
 It is expected that you will relocate to New Jersey by the end of the calendar year 2011. Your
eligibility for relocation benefits will be extended through that time period. Prior to relocation, the company will provide round trip airfare from Atlanta on a weekly basis. This travel must be booked sufficiently in advance to ensure lower fare.

 In addition, the company will provide local hotel accommodations for up to three months from your date of hire to assist you
in your transition. 
 ONE  OLD  BLOOMFIELD  AVENUE,  MOUNTAIN  LAKES,  NEW  JERSEY  07046 
 Phone: 973-541-8647 • Fax: 973-541-6693 

 Sutter 
  Page
 2
 
  

 Should your position be eliminated or you are terminated for anything other than cause,
you would be guaranteed nine (9) months of base salary to be paid in accordance with our severance policy. In addition, if you have not obtained employment at the end of nine months, these severance benefits may be extended for up to an
additional three (3) months or until you gain new employment whichever comes first. 
 You will be expected to execute a
Confidentiality and Non-Disclosure Agreement with Pinnacle Foods Group LLC. It is my understanding, and you have confirmed, that you have signed a Confidentiality Agreement, Non-Disclosure Agreement and/or Non-Compete Agreement with your previous
employer a copy of which you will provide for Pinnacle’s review. You confirm that you are under no other obligations, including the above referenced Confidentiality Agreement, Non-Disclosure Agreement and/or Non-Compete Agreement or agreements
with any other employer that would interfere with your employment with us and the job responsibilities as discussed to date. Further, you are not prohibited or restricted from accepting employment with Pinnacle as offered in this letter. Pinnacle
also confirms that we do not want you to share any of the confidential information as part of your Pinnacle job responsibilities. 
 Additionally, you have confirmed to me that you are not in possession of any confidential, proprietary and/or trade secret information obtained from your current, or any former, employer, which you intend to utilize in furtherance of our
business. Further you understand that you are specifically advised by Pinnacle against possessing or using any such confidential, proprietary and/or trade secret information. Should you have any questions regarding this matter, please contact me
immediately. 
 Enclosed with this letter is information about Pinnacle’s Benefit Plan which includes: Medical Plan,
Prescription Drug Plan, Dental Plan, Short-Term Disability Plan, Basic Life Insurance Plan and Business Travel Insurance Plan, along with a 401(k) Savings Program. You are eligible for four weeks of annual vacation. Our vacation year starts on
January 1 and your 2008 vacation will be prorated based on your starting date of employment. 
  

 ONE  OLD  BLOOMFIELD  AVENUE,  MOUNTAIN  LAKES,  NEW  JERSEY  07046 
 Phone: 973-541-8647 • Fax: 973-541-6693 

 Sutter 
  Page
 3
 
  

 Your employment is contingent upon successful completion of our employment process,
including but not limited to: verification of your employment and education, reference checks, a pre-employment drug screening test and medical examination and/or inquiry. Please contact Mary Lou Kehoe, Director, Human Resources at 856-969-7318 to
initiate the pre-employment process. If you have any questions regarding our offer, please don’t hesitate to contact me in our offices at 973-541-8647. 
 Please sign and return this letter to me. The mailing address is: 1 Old Bloomfield Avenue, Mountain Lakes, NJ 07046. We anticipate you starting with us not later than December 8, 2008. 
 We are looking forward to what we believe would be a mutually successful and beneficial relationship. 
  

							
	  	 	 	 	Regards,	 	 
				
	 	 	 	 	John Butler	 	 
				
	ACCEPTED:	 	 	 	 	 	 
				
	  
	 	 	 	  
	 	 
	Mr. Edward L. Sutter	 		 	Date	 	

 cc:    file 
  

 ONE  OLD  BLOOMFIELD  AVENUE,  MOUNTAIN  LAKES,  NEW  JERSEY  07046 
 Phone: 973-541-8647 • Fax: 973-541-6693

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