Document:

FIRST AMENDMENT TO THE

DENTSPLY INTERNATIONAL INC.

EXECUTIVE CHANGE OF CONTROL SEPARATION PLAN

 

          WHEREAS, DENTSPLY International Inc. (the “Company”) maintains the DENTSPLY International Inc. Executive Change of Control Separation Plan (the “Plan”) for a select group of designated key employees, as defined in Article III of the Plan; and

 

          WHEREAS, pursuant to Section 6.2 of the Plan, the Company is authorized to amend the Plan at any time, unless a Change of Control has occurred; and

 

          WHEREAS, no Change of Control has occurred, as defined in Article II of the Plan; and

 

          WHEREAS, the Company desires to amend the Plan, effective January 1, 2009, to make certain changes to comply with Section 409A of the Internal Revenue Code of 1986, as amended, and the regulations promulgated thereunder;

 

          NOW, THEREFORE, the Plan is hereby amended, effective for all participants in the Plan on January 1, 2009, as follows:

 

1.         Article II is hereby amended by deleting the definition of “Change of Control” in its entirety and substituting the following therefor:

 

“Change of Control”.  “Change of Control” shall mean:

 

(i)        The acquisition during any 12-month period, other than from the Company, by any individual, entity or group (within the meaning of Section 13(d) (3) or 14(d) (2) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) (other than the Company or an employee benefit plan of the Company) of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of more than 50% of the combined voting power of the then outstanding voting securities of the Company entitled to vote generally in the election of directors (the “Company Voting Securities”); or

 

(ii)      A reorganization, merger, consolidation or recapitalization of the Company (a “Business Combination”), other than a Business Combination in which more than 50% of the combined voting power of the outstanding voting securities of the surviving or resulting entity immediately following the Business Combination is held by the persons who, immediately prior to such Business Combination, were the holders of the Company Voting Securities; or

 

(iii)     A complete liquidation or dissolution of the Company, or a sale of all or substantially all of the assets of the Company; or

 

(iv)      Individuals who, as of the Effective Date, constitute the Board (the “Incumbent Board”) cease for any reason during any 12-month period to constitute at least a majority of the Board; provided, that any individual becoming a director subsequent to such date whose election or nomination for election by 

 

 

	
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the Company’s stockholders was approved by a vote of at least a majority of the directors then comprising the Incumbent Board shall be considered as though such individual were a member of the Incumbent Board.

 

2.         Section 4.2(c) is amended by deleting the period at the end of the final sentence and adding to the end of the sentence the following:

 

“; provided, that any reimbursements to the Participant for medical expenses incurred beyond the 18-month period following the Date of Termination shall be paid no later than the end of the calendar year following the year in which such expenses are incurred by the Participant.”

 

IN WITNESS WHEREOF, the Company has caused its authorized officer to execute this amendment this 31st day of December 2008.

 

	
 
 	
DENTSPLY INTERNATIONAL INC.
 

 

	
 
 	
By:  ___________________________________
 

	
 
 	
Name:
 

	
 
 	
Title:
 

 

 

	
1-PI/192643.1
 	
2
 

 

 

DENTSPLY INTERNATIONAL INC.

 

Executive Change of Control Separation Plan

 

Introduction

 

          The Board of Directors (the "Board") of DENTSPLY International Inc. (the "Company") recognizes that the Company, as a publicly held company, may experience a Change of Control (as hereinafter defined), and that the possibility of a Change of Control may create uncertainty resulting in the loss or distraction of certain key employees of the Company to the detriment of the Company and its stockholders.

 

          The Board considers the avoidance of such loss and distraction to be essential to protecting and enhancing the best interests of the Company and its stockholders.  The Board therefore requested that the Human Resources Committee of the Board (the “Committee”) consider what steps should be taken to avoid such loss and distraction.

 

          The Committee has recommended that the Board, in order to help assure the Company of the continued employment and dedication to duty of certain designated key employees for the benefit of the Company and its stockholders, adopt the DENTSPLY International Inc. Change of Control Separation Plan (“CIC Plan”).

 

          Therefore, in order to fulfill the above purposes and upon the recommendation of the Committee, the CIC Plan is hereby adopted by the Board.

 

ARTICLE I

 

ESTABLISHMENT OF PLAN

          As of the Effective Date, the Company has established a plan known as the DENTSPLY International Inc. Change of Control Separation Plan as set forth in this document.  

 

ARTICLE II

 

DEFINITIONS

          As used herein the following words and phrases shall have the following respective meanings:

 

          Affiliate.  “Affiliate” shall mean any entity that is controlled by or under common control of the Company. 

 

          Base Pay.  "Base Pay" shall mean the Participant's annual base salary in effect on the Date of Termination or, if higher, the Participant's annual base salary in effect on the date of the Change of Control.

 

	
 
 	
Board.  The Board of Directors of the Company.
 

 

          Cause.  "Cause" shall mean a determination by the Board in the exercise of good faith and reasonable judgment that the Participant has engaged in conduct that is either criminal or 

 

 

	
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fraudulent and that is reasonably likely to result in substantial harm to the Company's business or financial condition, including, without limitation, embezzlement or theft of Company property; or commission of a felony, or of a misdemeanor involving fraud or dishonesty, in the course of his or her employment by the Company.

 

	
 
 	
Change of Control.  "Change of Control" shall mean:
 

 

          (i)        The acquisition, other than from the Company, by any individual, entity or group (within the meaning of Section 13(d) (3) or 14(d) (2) of the Securities Exchange Act of 1934, as amended (the "Exchange Act")) (other than the Company or an employee benefit plan of the Company) of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of more than 50% of the combined voting power of the then outstanding voting securities of the Company entitled to vote generally in the election of directors (the "Company Voting Securities"); or

 

          (ii)       A reorganization, merger, consolidation or recapitalization of the Company (a "Business Combination"), other than a Business Combination in which more than 50% of the combined voting power of the outstanding voting securities of the surviving or resulting entity immediately following the Business Combination is held by the persons who, immediately prior to such Business Combination, were the holders of the Company Voting Securities; or

 

          (iii)      A complete liquidation or dissolution of the Company, or a sale of all or substantially all of the assets of the Company; or

 

          (iv)      Individuals who, as of the Effective Date, constitute the Board (the "Incumbent Board") cease for any reason to constitute at least a majority of the Board; provided, that any individual becoming a director subsequent to such date whose election or nomination for election by the Company's stockholders was approved by a vote of at least a majority of the directors then comprising the Incumbent Board shall be considered as though such individual were a member of the Incumbent.

 

	
 
 	
Code.  The Internal Revenue Code of 1986, as amended from time to time.
 

 

	
 
 	
Committee.  The Human Resources Committee of the Board.
 

 

          Company.  DENTSPLY International Inc., a Delaware corporation, and any Successor.  Where the context so requires, "Company" shall include any Affiliate of the Company.

 

          Date of Termination.  The date of a Participant's termination of employment with the Company and its Subsidiaries. 

 

	
 
 	
Effective Date.  
 	
February 19, 2008.
 

 

          Good Reason.  Without the Participant's express written consent, the occurrence of any one or more of the following:

 

          (i)        The Participant's job responsibilities are materially diminished from those in effect immediately prior to the Change of Control;

 

          (ii)       The Company requires the Participant to be based at a location in excess of fifty (50) miles from the Participant's principal job location or office immediately prior to the Change 

 

 

	
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of Control, except for required travel on the Company's business to an extent substantially consistent with the Participant's business travel obligations immediately prior to the Change of Control;

 

          (iii)      The Company does any of the following:  (a) reduces the Participant's Base Pay in a material respect; (b) materially reduces or eliminates the Participant's opportunity to earn bonuses or incentive compensation as compared to such opportunity available to the Participant prior to the Change of Control; or (c) materially reduces the employee benefits provided to the Participant from the level in effect immediately prior to the Change of Control (excluding any reduction that is generally applicable to all or substantially all salaried Company employees); or

 

          (iv)      The Company fails to obtain a satisfactory agreement from any Successor to assume and agree to perform the Company's obligations to the Participant under this Plan, as contemplated in Article V herein;

 

          provided, that none of the events or occurrences specified above shall be deemed to constitute "Good Reason" unless (x) the Participant provides written notice of the existence of such event or occurrence to the Company within ninety (90) days of such event or occurrence, (y) the Company fails to cure such event or occurrence within thirty (30) days of the receipt of such notice ("Cure Period"), and (z) the Participant's resignation is effective at the end of the Cure Period 

 

	
 
 	
Incentive Pay.  "Incentive Pay" shall mean 100% of the Participant’s target annual bonus.  
 

 

	
 
 	
Participants.  All Participants under this Plan as determined under Article III.
 

 

          Plan.  The DENTSPLY International Inc. Change of Control Separation Plan as set forth herein.

 

	
 
 	
Separation Benefits.  The benefits provided in accordance with Section 4.2 of the Plan.
 

 

          Subsidiary.  Any corporation or other entity (other than the Company) in any unbroken chain of corporations or other entities, beginning with the Company, if each of the corporations or entities (other than the last corporation or entity in the unbroken chain) owns stock or other interests possessing 50% or more of the economic interest or the total combined voting power of all classes of stock or other interests in one of the other corporations or entities in the chain.

 

          Successor.  Another corporation or unincorporated entity or group of corporations or unincorporated entities which acquires ownership, directly or indirectly, through merger, consolidation, purchase or otherwise, of all or substantially all of the assets of the Company.

 

ARTICLE III

 

PARTICIPANTS

          Annex A to this Plan provides a list of the key employees of the Company or its Subsidiaries who have been designated by the Board or the Committee as Participants as of the Effective Date subject to the provisions of this Plan.  The Board or the Committee may from time to time delete or designate other key employees as Participants; in such case, Annex A shall be deemed to be revised to reflect the addition of such Participants.  In any event, a Participant shall 

 

 

	
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cease to be a Participant in the Plan when he ceases to be an employee of the Company or a Subsidiary other than because of a Change of Control.

 

ARTICLE IV

 

SEPARATION BENEFITS

4.1       Right to Separation Benefits.  A Participant shall be entitled to Separation Benefits as provided in Section 4.2 if a Change of Control occurs, and if within two (2) years thereafter, the Participant's employment with the Company and its Subsidiaries terminates either (a) by action of the Company or a Subsidiary without Cause or (b) by reason of the Participant's resignation from such employment for Good Reason.  No action of the Company or a Subsidiary in terminating the employment of a Participant shall be considered as having been taken for Cause unless, at the time such action is taken, the Board provides written notice to the Participant, identifying the Cause with particularity.

4.2       Separation Benefits.  If a Participant's employment terminates in circumstances entitling him to Separation Benefits as provided in Section 4.1, the Participant shall be entitled to the following, provided that, any amount provided for in this Plan shall be reduced by any separation payments or benefits received by the Participant under any employment agreement or contract with the Company or any payments required by any applicable law as the result of Participant’s termination of employment: 

(a)        A lump sum cash payment equal to (i) two years Base Pay, plus (ii) a payment equal to two years of Incentive Pay for the year in which termination occurred.  Payment shall be made within ten days after the Participant's Date of Termination (or the end of the revocation period for the Release, if later, but in no event later than 60 days after the Participant's Date of Termination).

(b)       A pro rated payment of the Participant's Incentive Pay for the year in which his termination of employment occurs.  The pro rated payment shall be based on the Participant's Incentive Pay as of the Participant's Date of Termination, multiplied by a fraction, the numerator of which is the number of days during which the Participant was employed by the Company or a Subsidiary in the year of his termination and the denominator of which is 365.  Such pro rated payment shall be made to the Participant in a lump sum within ten days after the Participant's Date of Termination (or the end of the revocation period for the Release, if later, but in no event later than 60 days after the Participant's Date of Termination).

          (c)        For a period of twenty-four months following the Date of Termination, the Participant shall continue to receive the medical and dental coverage in effect on the Date of Termination (or generally comparable coverage) for himself or herself and, where applicable, his or her spouse and dependents, as the same may be changed from time to time for salaried employees generally, as if the Participant had continued in employment during such period.  

 

4.3       Other Benefits Payable.  The Separation Benefits described in Section 4.2 above and except as provided therein shall not effect any other accrued or vested or earned but deferred compensation, rights, or other benefits which may be owed to a Participant following termination, including but not limited to severance pay, accrued vacation or sick pay amounts or benefits payable under any bonus or other compensation plans, stock purchase plan, life insurance plan, health plan, disability plan or similar or successor plan.

 

 

	
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4.4       Obligations Absolute.  Upon a Change of Control, the Company's obligations to provide the Separation Benefits described in Section 4.2 shall be absolute and unconditional and shall not be affected by any circumstances, including, without limitation, any set-off, counterclaim, recoupment, defense or other right which the Company or any of its Subsidiaries may have against any Participant. 

	
 
 	
4.5
 	
Certain Adjustments in Payments.
 

 (a)        The provisions of this Section 4.5 shall apply notwithstanding anything in this Plan to the contrary.  In the event that it shall be determined that Section 280G of the Code is determined to be applicable to a Participant under the Plan and, subject to subsection (b) below, any payment or distribution by the Company to or for the benefit of the Participant, whether paid or payable or distributed or distributable pursuant to the terms of this Plan or otherwise (a "Payment"), would constitute an "excess parachute payment" within the meaning of such section, the Company shall pay the Participant an additional amount (the "Gross-Up Payment") such that the net amount retained by the Participant after deduction of any excise tax imposed under section 4999 of the Code, and any federal, state and local income tax, employment tax, excise tax and
other tax imposed upon the Gross-Up Payment, shall be equal to the Payment.

(b)       Notwithstanding subsection (a), and notwithstanding any other provisions of this Plan to the contrary, if the net after-tax benefit to the Participant of receiving the Gross-Up Payment does not exceed the Safe Harbor Amount (as defined below) by more than 10% (as compared to the net after-tax benefit to the Participant resulting from elimination of the Gross-Up Payment and reduction of the Payments to the Safe Harbor Amount), then (i) the Company shall not pay the Participant the Gross-Up Payment, and (ii) the provisions of subsection (c) below shall apply.  The term "Safe Harbor Amount" means the maximum dollar amount of parachute payments that may be paid to the Participant under section 280G of the Code without imposition of an excise tax under section 4999 of the Code.

(c)        The provisions of this subsection (c) shall apply only if the Company is not required to pay the Participant a Gross-Up Payment as a result of subsection (b) above.  If the Company is not required to pay the Participant a Gross-Up Payment as a result of the provisions of subsection (b), the Company will apply a limitation on the Payment amount as follows:  The aggregate present value of the Separation Benefits under Section 4.2 of this Plan shall be reduced (but not below zero) to the Reduced Amount.  The "Reduced Amount" shall be an amount expressed in present value which maximizes the aggregate present value of such Separation Benefits without causing any Payment to be subject to the limitation of deduction under section 280G of the Code.  For purposes of this Section 4.5, "present value" shall be determined in accordance with section
280G(d)(4) of the Code.

(d)       All determinations to be made under this Section 4.5 shall be made by the nationally recognized independent public accounting firm used by the Company immediately prior to the Change of Control ("Accounting Firm"), which Accounting Firm shall provide its determinations and any supporting calculations to the Company and the Participant within ten days of the Participant's Date of Termination.  If any Gross-Up Payment is required to be made, the Company shall make the Gross-Up Payment within ten days after receiving the Accounting Firm's calculations.  Any such determination by the Accounting Firm shall be binding upon the Company and the Participant.  All of the fees and expenses of the Accounting Firm in performing the determinations referred to in this Section 4.5 shall be borne solely by the Company.

 

 

	
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ARTICLE V

 

SUCCESSOR TO COMPANY

          The Plan shall bind any Successor (whether direct or indirect, by purchase, merger, consolidation or otherwise), in the same manner and to the same extent that the Company would be obligated under the Plan if no succession had taken place.  In the case of any transaction in which a Successor would not by the foregoing provision or by operation of law be bound by the Plan, the Company shall require such Successor expressly and unconditionally to assume and agree to perform the Company's obligations under the Plan, in the same manner and to the same extent that the Company would be required to perform if no such succession had taken place.

 

ARTICLE VI

 

DURATION, AMENDMENT AND TERMINATION

6.1       Duration.  If a Change of Control has not occurred, the Plan may be terminated in accordance with Section 6.2.  If a Change of Control occurs during the term of this Plan, the Plan shall continue in full force and effect and shall not terminate or expire until all Participants who become entitled to Separation Benefits hereunder shall have received such benefits in full.

6.2       Amendment and Termination.  The Plan may be terminated or amended in any respect by the Board, unless a Change of Control has occurred.  Upon the occurrence of a Change of Control, the Plan shall no longer be subject to amendment, change, substitution, deletion, revocation or termination in any respect whatsoever.

6.3       Form of Amendment.  The form of any amendment or termination of the Plan shall be a written instrument signed by a duly authorized officer or officers of the Company, certifying that the amendment or termination has been approved by the Board.  An amendment of the Plan shall automatically effect a corresponding amendment to all Participants' rights hereunder.  A termination of the Plan shall automatically effect a termination of all Participants' rights and benefits hereunder.

 

ARTICLE VII

 

MISCELLANEOUS

7.1       Indemnification.  If, following a Change of Control, a Participant institutes any legal action seeking to obtain or enforce, or is required to defend in any legal action the validity or enforceability of, any right or benefit provided by the Plan, the Company will pay for all legal fees and expenses incurred by such Participant in the course of such action.

7.2       Employment Status.  The Plan does not constitute a contract of employment or impose on the Participant or the Company or any of its Subsidiaries any obligation to retain the Participant as an employee, to change the status of the Participant's employment, or to change the 

7.3       Validity and Severability.  The invalidity or unenforceability of any provision of the Plan shall not affect the validity or enforceability of any other provision of the Plan, which 

 

 

	
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shall remain in full force and effect, and any prohibition or enforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

7.4       Governing Law.  The validity, interpretation, construction and performance of the Plan shall in all respects be governed by the laws of the Delaware, other than the conflict of law provisions of such laws.

7.5       Compliance with Code Section 409A.  Notwithstanding any other provision on this Plan, any amount that would be payable hereunder during the six-month period beginning on his Date of Termination to a Participant who is a "specified employee" as defined in Section 409A(a)(2)(B)(i) and which would not otherwise be exempt from the application of Section 409A(a)(2)(B) of the Code shall be withheld and paid instead on the six (6) month anniversary of the Date of Termination.  For purposes of Section 409A of the Code, each individual payment required to be made under this Plan shall be treated as a separate payment from all other such payments.  

 

 

	
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9Exhibit
10.1

       

      AMENDMENT NO. 4 AND WAIVER
TO AMENDED AND RESTATED CREDIT AGREEMENT

    

     

    This
Amendment
No.
4 and
Waiver
to the Amended
and Restated Credit Agreement, dated as of February 19, 2010 (this “Amendment”), among U.S.
Concrete, Inc., a Delaware corporation (the “Borrower”), the Lenders party
hereto, the Issuers and Citicorp
north america, Inc., as agent for the Lenders and the Issuers and as
agent for the Secured Parties under the Collateral Documents (in such capacity,
the “Administrative
Agent”); Bank
of America, N.A., in its capacity as syndication agent for the Lenders
and the Issuers (the “Syndication Agent”) and JPMorgan
Chase Bank, in its capacity as documentation agent for the Lenders and
the Issuers (the “Documentation
Agent”).

     

    Preliminary
Statements

     

    Capitalized
terms defined in the Credit Agreement (as defined below) and not otherwise
defined in this Amendment are used herein as therein defined.

     

    The
Borrower, the Lenders, the Issuers, the Administrative Agent, the Syndication
Agent and the Documentation Agent are parties to that certain Amended and
Restated Credit Agreement dated as of June 30, 2006 (as the same has been
amended by Amendment No. 1 dated March 1, 2007, Amendment No. 2 dated
November 6, 2007 and Amendment No. 3 dated July 11, 2008, and has been otherwise
amended, supplemented or modified from time to time, the “Credit
Agreement”).

     

    The
Borrower has requested that the Lenders agree to amend certain provisions of the
Credit Agreement and to grant temporary and permanent waivers of certain
potential Defaults and/or Events of Default, as more fully set forth
herein.

     

    The
parties hereto agree to amend the Credit Agreement and grant certain waivers
upon the terms and subject to the conditions set forth herein.

     

    SECTION
1.         Amendments.  Subject
to the satisfaction of the conditions precedent set forth in Section 3 hereof, the Credit
Agreement is hereby amended as follows:

     

    (a)           Section 1.1(Defined Terms) is
hereby amended as follows:

     

    (i)           By
adding thereto in the appropriate alphabetical order the following
definitions:

     

    “Applicable Amount” means, (i)
from and after the Fourth Amendment Effective Date to but excluding the date on
which a weekly Borrowing Base Certificate is delivered pursuant to the last
sentence of Section
6.12(a), $22,500,000, (ii) thereafter, until and including April 30,
2010, $20,000,000 and (iii) after April 30, 2010,
$25,000,000.  Notwithstanding the foregoing, from and after the
Administrative Agent’s receipt of a Payment Notice (or, if earlier, the date
upon which the Borrower was required to deliver a Payment Notice), the
Applicable Amount shall be $25,000,000.”

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    “Defaulting Lender” means any
Revolving Credit Lender that (a) has failed to fund any portion of its Loans or
participations in Letters of Credit or Swing Loans required to be funded by it
hereunder within 2 Business Days of the date required to be funded by it
hereunder, (b) has notified the Administrative Agent, any Issuer, the Swing Loan
Lender, any Lender and/or the Borrower in writing that it does not intend to
comply with any of its funding obligations under this Agreement or has made a
public statement to the effect that it does not intend to comply with its
funding obligations under this Agreement, (c) has otherwise failed to pay over
to the Administrative Agent or any other Lender any other amount required to be
paid by it hereunder within 3 Business Days of the date when due, unless the
subject of a good faith dispute, or (d) becomes (or is) the subject of any
action or proceeding of a type described in Section 9.1(f) (or any
comparable proceeding initiated by a regulatory authority having jurisdiction
over such Revolving Credit Lender).”

     

    “Excluded Equity” has the
meaning set forth in clause (b) of the definition of “Excluded
Collateral”.

     

    “Excluded JV Assets” has the
meaning set forth in clause (c) of the definition of “Excluded
Collateral”.

     

    “Fourth Amendment Effective
Date” means February 19, 2010.”

     

    “Leasehold Interests” has the
meaning set forth in clause (d) of the definition of “Excluded
Collateral”.

     

    “Payment Notice” means any
written notice required to be delivered by the Borrower pursuant to Section 4(c)
of that certain Amendment No. 4 and Waiver to Amended and Restated Credit
Agreement, dated as of February 19, 2010, by and among the Borrower, the Lenders
party thereto, the Issuers and the Administrative Agent.

     

    (ii)          by
amending and restating the definition of “Applicable Margin” in its entirety as
follows:

     

    “Applicable Margin” means,
with respect to Revolving Loans maintained as (i) Base Rate Loans, a rate equal
to 3.00% per annum and (ii) Eurodollar Rate Loans, a rate equal to 4.00% per
annum.

     

    (iii)         by
amending and restating the definition of “Applicable Unused Commitment Fee Rate”
in its entirety as follows:

     

    “Applicable Unused Commitment Fee
Rate” means 0.75% per annum.

     

    (iv)        by
deleting the phrase “Facilities Increase Notice,” from the definition of
“Approved Electronic Communications”.

     

    (v)         by
amending and restating the definition of “Borrowing Base” in its entirety as
follows:

     

    “Borrowing Base” means, at any
time, (a) the sum of (i) the product of 85% and the face amount of all Eligible
Receivables of the Borrowing Base Contributors (calculated net, without
duplication, of all finance charges, late fees and other fees that are unearned,
unpaid sales, excise or similar taxes, and credits or allowances granted at such
time), (ii) the product of (x) the product of 85% multiplied by the Orderly
Liquidation Value Inventory Rate multiplied by (y) the value
of the Eligible Inventory of the Borrowing Base Contributors (valued, in each
case, at the lower of cost or market on a first-in, first-out basis) at such
time and (iii) the lesser of (x) $20,000,000 and (y) the product of 85% of the
Orderly Liquidation Value Of Eligible Trucks of the Borrowing Base Contributors
at such time, minus (b)
any Eligibility Reserve then in effect and applicable to the Borrowing Base
Collateral.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    (vi)        by
deleting the proviso in the definition of “Borrowing Base Contributors” and
replacing the semi-colon before such proviso with a period.

     

    (vii)       by
deleting the phrase “$15 million” from the definition of “Covenant Termination
Date” and substituting therefor the phrase “the Applicable Amount”.

     

    (viii)      by
adding to the end of the definition of “EBITDA” the following
sentence:

     

    “In no event shall the calculation of
“EBITDA” include any gain or loss from the early extinguishment or repurchase of
Indebtedness.”

     

    (ix)         by
amending and restating the definition of “Excluded Collateral” in its entirety
as follows:

     

    “Excluded Collateral means (a)
the aggregates quarry owned by Eastern Concrete Materials, Inc. (“EMI”) located in Hamburg, New
Jersey and any equipment or other assets of EMI used in the operation of such
quarry in the ordinary course of business and consistent with past practice,
together with any proceeds and products of any of the foregoing (including
Accounts and intangible assets pertaining thereto) (collectively, the “Quarry”); provided that “Excluded
Collateral” shall not include any mined Inventory produced from such quarry to
the extent the same is owned by EMI, (b) the equity interests of the Excluded
Joint Venture (the “Excluded
Equity”), (c) the assets owned by the Excluded Joint Venture (the “Excluded JV Assets”), (d) any
real estate assets leased by the Borrower and its Subsidiaries (the “Leasehold Interests”) and (e)
any real estate assets owned by the Borrower and its Subsidiaries.

     

    (x)          by
amending and restating the definition of “Excluded Joint Ventures” in its
entirety as follows:

     

    “Excluded Joint Venture” means
Superior Materials Holdings LLC and its direct and indirect
Subsidiaries.”

     

    (xi)         by
amending and restating the definition of “Excluded Subsidiary” in its entirety
as follows:

     

    “Excluded Subsidiary” means
Beall Investment Corporation, Inc., a Delaware corporation.

     

    (xii)        by
deleting the definitions of “Facilities Increase”, “Facilities Increase Date”
and “Facilities Increase Notice” in their entireties.

     

    (xiii)       by
amending and restating the definition of “Fee Letters” in its entirety as
follows:

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    “Fee Letters” means (a) the
Administrative Agency Fee Letter and (b) the Facilities Fee Letter.

     

    (xiv)       by
adding the following proviso to the end of the definition of “Fixed
Charges”:

     

    “; provided that to the extent that the
New Notes and/or the Additional Notes are exchanged or satisfied through an
Equity Issuance and/or the incurrence of Permitted Subordinated Debt, then Cash
Interest Expense under clause
(a) hereof shall be calculated on a pro forma basis as though such New
Notes and/or the Additional Notes were exchanged or satisfied as of the first
day of the relevant period and, to the extent any Permitted Subordinated Debt
was incurred in connection therewith, as though such Permitted Subordinated Debt
was incurred on the first day of the relevant period.”

     

    (xv)        by
amending and restating the definition of “Lender” in its entirety as
follows:

     

    “Lender” means the Swing Loan
Lender and each other financial institution or other entity that (a) is listed
on the signature pages hereof as a “Lender” or (b) from time to time becomes a
party hereto by execution of an Assignment and Acceptance.

     

    (xvi)       by
amending and restating the definition of “Net Cash Proceeds” in its entirety as
follows:

     

    “Net Cash Proceeds” means
proceeds received by the Borrower or any of its Subsidiaries after the Effective
Date in cash or Cash Equivalents from any (a) Asset Sale, other than an Asset
Sale permitted under Section
8.4 (a), (b), (c)(i), (d) or (e) (Sale of Assets), net of (i) the
reasonable cash costs of sale, assignment or other disposition (including a
reasonable reserve for liabilities retained by the Borrower or such Subsidiary
in connection with such Asset Sale; it being understood that “Net Cash Proceeds” shall
include, without limitation, any reversal of a reserve described in this clause (i) or, if such
liabilities have not been satisfied in cash and such reserve not reversed within
the longer of (x) 365 days after such Asset Sale and (y) the applicable
contractual limitations period, the amount of such reserve), (ii) taxes paid or
reasonably estimated to be payable as a result thereof and (iii) any amount
required to be paid or prepaid on Indebtedness (other than the Obligations)
secured by the assets subject to such Asset Sale, provided, however, that
evidence of each of clauses
(i), (ii) and (iii) above is provided to
the Administrative Agent in form and substance satisfactory to it, (b) Property
Loss Event or (c)(i) Equity Issuance (other than any such issuance of Stock
(other than Disqualified Stock) of the Borrower (x) occurring in the ordinary
course of business to any director, member of the management or employee of the
Borrower or its Subsidiaries, (y) the proceeds of which are used, within 15 days
following the Borrower’s receipt thereof, as all or a portion of the
consideration for any Permitted Acquisition or (z) the proceeds of which are
used to prepay, redeem, purchase, defease or otherwise satisfy the New Notes
and/or the Additional Notes), or (ii) any Debt Issuance permitted under Section 8.1 (j) or (l)
(Indebtedness), in each case net of brokers’ and advisors’ fees and other
costs incurred in connection with such transaction; provided, however, that in
the case of this clause
(c), evidence of such costs is provided to the Administrative Agent in
form and substance reasonably satisfactory to it.”

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    (xvii)      by
deleting in its entirety the final paragraph of the definition of “Permitted
Acquisition”.

     

    (xviii)     by
amending and restating the definition “Permitted Subordinated Debt” in its
entirety as follows:

     

    “Permitted Subordinated Debt”
means Subordinated Indebtedness issued (i) in exchange for, satisfaction of, or
(ii) to refinance, replace, or extend all or any part of the Borrower’s and its
Subsidiaries’ obligations under the New Notes and the Additional Notes; provided that the terms of
such Subordinated Indebtedness shall be reasonably satisfactory to the
Administrative Agent.”

     

    (xix)       by
amending and restating the definition of “Revolving Credit Commitment” in its
entirety as follows:

     

    “Revolving Credit Commitment”
means, with respect to each Revolving Credit Lender, the commitment of such
Revolving Credit Lender to make Revolving Loans and acquire interests in other
Revolving Credit Outstandings in the aggregate principal amount outstanding not
to exceed the amount set forth opposite such Revolving Credit Lender’s name on
Schedule I
(Commitments) under the caption “Revolving Credit Commitment”
(as amended to reflect each Assignment and Acceptance executed by such Revolving
Credit Lender) and as such amount may be reduced pursuant to this
Agreement.  The aggregate amount of the Revolving Credit Commitments
as of the Fourth Amendment Effective Date is $90,000,000.

     

    (xx)        by
deleting the definition of “SPE” in its entirety.

     

    (xxi)       by
amending and restating the definition of “Swing Loan Sublimit” in its entirety
as follows:

     

    “Swing Loan Sublimit” means
$10,000,000.”

     

    (xxii)      by
amending and restating the definition of “Trigger Event” in its entirety as
follows:

     

    “Trigger Event” means the
occurrence of the Fourth Amendment Effective Date.

     

    (b)           Article II (The Facilities)
is hereby amended as follows:

     

    (i)           By
deleting the text of clause
(b) of Section 2.1 (The
Commitments) in its entirety and substituting the phrase “Intentionally
Omitted” therefor.

     

    (ii)          By
amending and restating in its entirety the text of clause (d) of Section 2.3 (Swing Loans) as
follows:

     

    “The Swing Loan Lender may demand at
any time (and on at least a weekly basis) that each Revolving Credit Lender pay
to the Administrative Agent, for the account of the Swing Loan Lender, in the
manner provided in clause
(e) below, such Revolving Credit Lender’s Ratable Portion of all or a
portion of the outstanding Swing Loans, which demand shall be made through the
Administrative Agent, shall be in writing and shall specify the outstanding
principal amount of Swing Loans demanded to be paid.”

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    (iii)         By
adding the following new Section 2.18 (Defaulting
Lenders):

     

    “Section 2.18    Defaulting
Lenders.  Notwithstanding any provision of this Agreement to
the contrary, if any Revolving Credit Lender becomes a Defaulting Lender, then
the following provisions shall apply for so long as such Revolving Credit Lender
is a Defaulting Lender:

    

    (a)           if
any Letter of Credit Obligations exist at the time a Revolving Credit Lender
becomes a Defaulting Lender, then the Borrower shall within 15 Business Days (or
such longer period as the Administrative Agent and relevant Issuer may agree to)
following written notice by the Administrative Agent (A) cash collateralize such
Defaulting Lender’s share of the Letter of Credit Obligations in accordance with
the procedures set forth in Section 9.3 (Actions in Respect of Letters of
Credit) for so long as such Letter of Credit Obligations are outstanding,
or (B) enter into other arrangements reasonably satisfactory to the
Administrative Agent, the Issuer, the Swing Loan Lender and the Borrower (it
being understood and agreed that once a Lender is no longer a Defaulting Lender
and has satisfied all of its obligations under this Agreement, the cash
collateral referenced in clause (A) above of this
Section 2.18 shall be
returned promptly to the Borrower); and

    

    (b)           so
long as any Revolving Credit Lender is a Defaulting Lender, the Swing Loan
Lender shall not be required to fund any Swing Loan and no Issuer shall be
required to issue, amend or increase any Letter of Credit, unless such Swing
Loan Lender or Issuer is satisfied that the related exposure will be cash
collateralized in accordance with Section 2.18(a) (or such
other arrangements as are reasonably satisfactory to the Administrative Agent,
the Issuer, the Swing Loan Lender and the Borrower).

    

    The
rights and remedies against a Defaulting Lender under this Section 2.18 are in addition
to other rights and remedies that Borrower, the Administrative Agent, the
Issuer, the Swing Loan Lender and the non-Defaulting Lenders may have against
such Defaulting Lender.  The arrangements permitted or required by
this Section 2.18 shall
be permitted under this Agreement, notwithstanding any limitation on Liens or
otherwise.”

     

    (c)           Clause (c) of Section 3.2 (Conditions Precedent to
Each Loan and Letter of Credit) is hereby amended and restated as
follows:

     

    “Borrowing
Base.  The Borrower shall have delivered the Borrowing Base
Certificate required to be delivered by Section 6.12(a) (Borrowing
Base).  After giving effect to the Loans or Letters of Credit
requested to be made or Issued on any such date and the use of proceeds thereof,
(i) the Revolving Credit Outstandings shall not exceed the Maximum Credit at
such time and (ii) the Available Credit shall not be less than the Applicable
Amount.”

     

    (d)           Section 3.4 (Conditions Precedent to
Each Facilities Increase) is hereby deleted in its entirety.

     

    (e)           Section 4.5 (Material Adverse
Change) is hereby amended by replacing the reference to “December 31,
2005” with “September 30, 2009”.

     

    
      
        
        

      

      
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    (f)           Section 4.6 (Solvency) is
hereby amended by adding the following proviso to the end thereof:

     

    “; provided
that  solely for the period from the Fourth Amendment Effective Date
to and including April 30, 2010, the representation and warranty set forth in
this Section 4.6 shall
not be made.”

     

    (g)           Section 5.1 (Minimum Fixed Charge
Coverage Ratio) is hereby amended and restated in its entirety as
follows:

     

    “With respect to any fiscal month in
which the Available Credit is at any time less than the Applicable Amount (any
such month, the “Covenant
Commencement Date”), the Borrower shall maintain a Fixed Charge Coverage
Ratio, determined as of the last day of the fiscal month preceding the Covenant
Commencement Date for which the Lenders have received financial statements
pursuant to Section 6.1
(Financial Statements) and as of the last day of each fiscal month
occurring thereafter until the Covenant Termination Date, for the twelve fiscal
months ending on each such date, of at least 1:1.”

     

    (h)           Section 6.12 (Borrowing Base
Deliverables and Determination) is hereby amended as
follows:

     

    (i)           by
amending and restating clause
(a) thereof in its entirety as follows:

     

    “(a)        The
Borrower shall deliver, as soon as available and in any event not later than 10
Business Days after the end of each fiscal month, a Borrowing Base Certificate
as of the end of such fiscal month executed by a Responsible Officer of the
Borrower; provided,
that such Borrowing Base Certificate shall reflect available updated figures for
Eligible Receivables to the extent included on the most recent Borrowing Base
Certificate delivered pursuant to the next succeeding sentence.  The
Borrower shall deliver, as soon as available and in any event not later than 3
Business Days after the end of the last day of each week (commencing no later
than the week ended March 5, 2010), an additional Borrowing Base Certificate as
of the end of such period (containing available updated figures for Eligible
Receivables) executed by a Responsible Officer of the Borrower.”

     

    (ii)          by
deleting from the first sentence of clause (b) thereof the
following language:

     

    “(which request, with respect to
third-party appraisers, except during the existence of a Default or an Event of
Default when requests may be more frequent, shall not be made more frequently
than once per year with regard to the Borrowing Base Collateral)”:

     

    (iii)         by
amending and restating clause
(d) thereof in its entirety as follows:

     

    “(d)        The
Administrative Agent may, at the Borrower’s sole cost and expense, make test
verifications of the Accounts and physical verifications of the Inventory in any
manner and through any medium that the Administrative Agent considers advisable,
which such verifications shall be made at the reasonable discretion of the
Administrative Agent during normal business hours and, as long as no Default or
Event of Default has occurred and is continuing, following reasonable prior
notice to the Borrower, and the Borrower shall furnish all such assistance and
information as the Administrative Agent may reasonably require in connection
therewith.  At any time and from time to time, upon the Administrative
Agent’s request and at the expense of the Borrower, the Borrower shall cause
independent public accountants or others satisfactory to the Administrative
Agent to furnish to the Administrative Agent reports showing reconciliations,
aging and test verifications of, and trial balances for, the
Accounts.

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

    (iv)        by
amending and restating clause
(e) thereof in its entirety as follows:

     

    “(e)        The
Borrower shall permit the Administrative Agent or any of its Affiliates (or one
of their representatives), at the Borrower’s sole cost and expense, to conduct
field examinations of the Borrowing Base Collateral, which such examinations
shall be made at the reasonable discretion of the Administrative Agent during
normal business hours and, as long as no Default or Event of Default has
occurred and is continuing, following reasonable prior notice to the
Borrower.”

     

    (i)           Section 7.9 (Application of
Proceeds) is hereby amended by adding the following proviso to the end
thereof:

     

    “; provided that the proceeds of
the Loans shall be used by the Borrower (and, to the extent distributed to them
by the Borrower, each Loan Party) for amounts then due and payable or accrued
(such amounts as reasonably determined by the Borrower) in the ordinary course
of business and consistent with past practices and/or other amounts not to
exceed $500,000.

     

    (j)           Section 7.12 (Control Accounts;
Approved Deposit Accounts) is hereby amended as follows:

     

    (i)           by
amending and restating sub-clauses (x), (y) and (z) of clause (a) thereof as
follows:

     

    “(x) payroll, withholding tax and other
fiduciary accounts, including accounts for which the funds on deposit therein
pertain to Liens permitted under clause (c) of the definition
of “Customary Permitted
Liens” or Liens permitted by Section 8.2(k) (Liens) (provided that neither the
Borrower nor any such Subsidiary may maintain funds in any such account in
excess of amounts which are actually accrued (or, in the case of fiduciary
accounts, otherwise required to be maintained therein) to its employees or the
relevant Governmental Authority or other beneficiary of such fiduciary account),
(y) unless a Default or Event of Default has occurred and is continuing, an
amount not to exceed $2,000,000 at the close of business on any Business Day in
account number 001390027679 at BofA to cover net disbursements made on behalf of
the Borrower and its Subsidiaries in the ordinary course of business and (z)
Excluded Deposit Accounts, provided further that (1)
from and after the Fourth Amendment Effective Date, all deposits into and
balances maintained in the Excluded Deposit Accounts shall be in the ordinary
course of business and consistent with past practices; provided, that no proceeds of
Loans may be deposited into an Excluded Deposit Account (other than to the
extent necessary to repay any amounts then overdrawn) and (2) to the extent the
aggregate balances in all Excluded Deposit Accounts at any time exceed $300,000
for a period of longer than 3 Business Days the Borrower shall, or shall cause
the relevant Subsidiary to, either (A) cause such amounts in excess of $300,000
to, within 1 Business Day, be transferred to an Approved Deposit Account or (B)
cause one or more Excluded Deposit Accounts to become an Approved Deposit
Account so that, after giving effect to the actions in clauses (A) and/or (B) the aggregate balance on
deposit in all Excluded Deposit Accounts shall not at any time exceed $300,000
for a period longer than 3 Business Days.”

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

     

    (ii)          by
amending and restating the entire second sentence of clause (f) thereof as
follows:

     

    “The Borrower may maintain a Securities
Account with Merrill Lynch which is not a Control Account for the sole purpose
of depositing therein deferred compensation payments on behalf of its employees
and officers in accordance with the Borrower’s existing incentive plan for which
accounts are maintained at Merrill Lynch (or any of its Affiliates) (the “Merrill Lynch Account”);
provided that the
aggregate amount from time to time on deposit therein shall not exceed an amount
equal to (a) $500,000 minus all distributions or withdrawals made from the
Merrill Lynch Account on or after the Fourth Amendment Effective Date plus (b)
the amount, if any, earned on the amounts on deposit in the Merrill Lynch
Account.”

     

    (k)           Section 8.1 (Indebtedness) is
hereby amended as follows:

     

    (i)           by
amending and restating clause
(j) thereof in its entirety as follows:

     

    “(j)         Any
Indebtedness of the Excluded Joint Venture in an aggregate amount not to exceed
$17,500,000 at any time; provided that (i) neither the
Borrower nor any of its Subsidiaries (other than the Excluded Joint Venture) is
(or may become) directly or indirectly liable (whether as a primary obligor,
surety or guarantor) for such Indebtedness and (ii) none of the assets of the
Borrower or any of its Subsidiaries (other than the Excluded Joint Venture and
Excluded Equity) is (or may become) subject to any Lien securing such
Indebtedness;”

     

    (ii)          by
inserting the phrase “prior to the Fourth Amendment Effective Date” immediately
prior to the phrase “$10,000,000” in clause (k)(ii)
thereof.

     

    (iii)         by
amending and restating clause
(m) thereof in its entirety as follows:

     

    “(m)       (i)
Indebtedness evidenced by the New Notes and the Additional Notes and (ii)
Permitted Subordinated Debt; and”.

     

    (iv)         by
deleting the text of clause
(n) thereof and substituting therefor the phrase “Intentionally
Omitted”.

     

    (l)           Section 8.2 (Liens, Etc.) is
hereby amended as follows:

     

    (i)           by
deleting the text of clause (g) thereof and substituting therefor the phrase
“Intentionally Omitted”.

     

    (ii)          by
deleting the text of clause
(i) thereof and substituting therefor the phrase “Intentionally
Omitted”.

     

    (iii)         by
adding the following new paragraph after clause (o)
thereof:

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

     

    “Notwithstanding anything in this Section 8.2 (Liens) or any
other provision of the Loan Documents to the contrary, after the Fourth
Amendment Effective Date, in no event shall the Borrower, nor shall it permit
any of its Subsidiaries to, create any Lien (except for Liens permitted by Section 8.2(a), (b), (c), (d) (solely in respect of
Liens upon Equipment and, solely in connection with any Permitted Acquisition,
Liens upon fixed assets acquired in such acquisition), (e), (f) (but only to the extent
of Liens securing operating leases of Equipment), (j) and (n), upon or with respect to
any Excluded Collateral (other than the Excluded JV Assets and Excluded
Equity).”

     

    (m)           Section 8.3 (Investments) is
hereby amended as follows:

     

    (i)           by
deleting the text of clause
(h) thereof and substituting therefor the phrase “Intentionally
Omitted”.

     

    (ii)          by
amending and restating clause
(i) thereof in its entirety as follows:

     

    “(i)         Investments
constituting (i) Permitted Acquisitions consummated prior to the Fourth
Amendment Effective Date and (ii) Permitted Acquisitions consummated on or after
the Fourth Amendment Effective Date so long as (A) the aggregate consideration
for all such acquisitions (including, without limitation, stock issued by the
Borrower or its Subsidiaries, cash payments, incurrence or assumption of
Indebtedness and/or earn-outs) does not exceed $6,000,000 and (B) both before
and after giving effect to any such Permitted Acquisition, the Available Credit
at such time exceeds the Applicable Amount (giving any pro forma effect to the
Borrowing Base as it relates to such Permitted Acquisition so long as the
Appraisal Requirement has been satisfied);”

     

    (iii)         by
amending and restating clause
(k) thereof in its entirety as follows:

     

    “(k)        Investments
in the Excluded Joint Venture existing as of the Fourth Amendment Effective Date
together with an additional amount not to exceed $2,250,000 in any Fiscal
Quarter and not to exceed $5,000,000 in the aggregate from and after the Fourth
Amendment Effective Date; provided, that five (5) days
in advance of any such Investment the Borrower shall provide written notice to
the Administrative Agent describing, in reasonable detail, the type, amount and
date of such Investment.”

     

    (n)           Section 8.4 (Sale of Assets)
is hereby amended as follows:

     

    (i)           by
amending and restating clause
(f) thereof in its entirety as follows:

     

    “(f)        any
Asset Sale of all or any part of the Excluded Joint Venture or the Excluded
Equity”.

     

    (ii)           by
amending and restating clause
(g) thereof in its entirety as follows:

     

    “(g)       as
long as no Default or Event of Default is continuing or would result therefrom,
any other Asset Sale for Fair Market Value, payable in cash upon such sale;
provided, however, that
with respect to any such Asset Sale pursuant to this clause (g), (i) the aggregate
consideration received during any Fiscal Year for all such Asset Sales shall not
exceed $3,000,000 and (ii) an amount equal to all Net Cash Proceeds of such
Asset Sale are applied to the payment of the Obligations as set forth in, and to
the extent required by, Section 2.9 (Mandatory
Prepayments); and”

     

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

     

    (iii)        by
amending and restating clause
(h) thereof in its entirety as follows:

     

    “(h)       the
sale or disposition of personal property (other than Inventory) of the Borrower
and its Subsidiaries to the Excluded Joint Venture consummated in connection
with managing the Excluded Joint Venture in the ordinary course of business and
consistent with past practices.”

     

    (iv)        by
adding the following new paragraph immediately after clause (h)
thereof:

     

    “Notwithstanding anything in this Section 8.4 (Sale of Assets)
to the contrary, after the Fourth Amendment Effective Date in no event may the
Borrower or any of its Subsidiaries permit an Asset Sale of any Excluded
Collateral (other than Excluded JV Assets, Excluded Equity and Leasehold
Interests) other than Asset Sales permitted by clauses (a), (b) (solely to
the extent of sales or dispositions of Equipment permitted thereunder), (e) and (g) of Section 8.4
hereof.”

     

    (o)           Section 8.5 (Restricted
Payments) is hereby amended as follows:

     

    (i)           by
deleting the phrase “$3,000,000” in clause (c) thereof and
substituting therefor the phrase “$1,000,000”.

     

    (ii)          by
inserting the phrase “prior to the Fourth Amendment Effective Date” after the
word “made” in clause
(d) thereof.

     

    (p)           Clause
(b) of Section 8.6 (Prepayment
and Cancellation of Indebtedness) is hereby amended and restated as
follows:

     

    “(b) The Borrower shall not, nor shall
it permit any of its Subsidiaries to, prepay, redeem, purchase, defease or
otherwise satisfy prior to the scheduled maturity thereof in any manner, or make
any payment in violation of any subordination terms of, any Subordinated
Indebtedness (including, without limitation, the New Notes and/or the Additional
Notes); provided that
the Borrower and each Subsidiary of the Borrower may prepay, redeem, purchase,
defease or otherwise satisfy the New Notes and/or the Additional Notes with the
issuance of, or the proceeds of, Permitted Subordinated Debt and/or an Equity
Issuance.”

     

    (q)           Section 8.7 (Restriction on
Fundamental Changes; Permitted Acquisitions) is hereby amended by adding
to the end thereof the following new sentence:

     

    “Notwithstanding the foregoing, from
and after the Fourth Amendment Effective Date, the Borrower shall not, nor shall
it permit any of its Subsidiaries to, form, acquire, create or enter into (1)
any joint venture or partnership with any other Person (other than any
partnership among the Borrower and any Subsidiary Guarantor) or (2) any
Subsidiary that is not a Domestic Subsidiary.”

     

    (r)           Section 9.1 (Events of
Default) is hereby amended as follows:

     

    
      
        
        

      

      
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    (i)           by
deleting the word “or” appearing at the end of clause (k)
thereof.

     

    (ii)          by
deleting the period at the end of clause (l) and replacing the
period with a semicolon and adding the word “or” after such
semicolon.

     

    (iii)         by
adding the following new clause (m) immediately after
clause (l)
thereof:

     

    “(m)       the
failure of the New Notes, Additional Notes or any other Subordinated
Indebtedness to be subordinated as provided by any subordination provision
related to such Indebtedness or any Loan Party shall contest in writing the
validity or enforceability of such provisions.”

     

    SECTION
2.         Waivers.

     

    (a)           Permanent
Waiver.  The Lenders hereby waive any Default or Event of
Default arising under the Credit Agreement solely as a result of the Borrower’s
delivery of its 2009 Fiscal Year financials with a “going concern” opinion or
similar qualification.

     

    (b)           Temporary
Waiver.  The Lenders hereby waive from the Fourth Amendment
Effective Date through 5:00 p.m. (New York time) on April 30, 2010, any Default
or Event of Default arising under the Credit Agreement as a result of any
failure by the Borrower to make its regularly scheduled interest payment due on
April 1, 2010 under the New Notes and the Additional Notes; it being understood
that if the Borrower has not made such regularly scheduled interest payment
under the New Notes and the Additional Notes by 5:00 p.m. (New York time) on
April 30, 2010 an immediate Event of Default shall occur on such
date.

     

    SECTION
3.         Conditions to
Effectiveness.  This Amendment shall become effective on the
date when each of the following conditions precedent have first been satisfied
(the “Effective
Date”):

     

    (a)           Certain Documents. The
Administrative Agent shall have received counterparts of each of the following,
each dated the Effective Date (unless otherwise agreed by the Administrative
Agent), in form and substance satisfactory to the Administrative
Agent:

     

    (i)           this
Amendment executed by the Borrower, the Administrative Agent and the Requisite
Lenders;

     

    (ii)          a
consent and reaffirmation in respect of this Amendment in the form attached
hereto, executed by each Guarantor;

     

    (iii)         a
certificate of the Secretary or an Assistant Secretary of each Loan Party
certifying (A) the names and true signatures of each officer of such Loan Party
that has been authorized to execute and deliver this Amendment and/or the
attached Reaffirmation and Consent of Guarantors or other document required
hereunder to be executed by or on behalf of such Loan Party and (B) the
resolutions of such Loan Party’s Board of Directors (or equivalent governing
body) approving and authorizing the execution, delivery and performance of this
Amendment and/or the attached Reaffirmation and Consent of Guarantors and the
other documents required hereunder to be executed by or on behalf of such Loan
Party; and

     

    
      
        
        

      

      
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    (iv)        a
certificate from a Responsible Officer of the Borrower certifying that the
representations and warranties set forth in Section 7 of this Amendment
are true and correct in all material respects as of the Effective
Date.

     

    (b)           Fees and Expenses
Paid.  There shall have been paid to the Administrative Agent
(i) for the account of each Lender that executes and delivers this Amendment on
or prior to 5:00 p.m. Eastern Time on February 19, 2010, an amount equal to
0.10% of the Revolving Credit Commitments of such Lender (after giving effect to
the reduction described in Section 8 below and as set forth on the amended Schedule I (Commitments)
attached hereto), which the Administrative Agent shall remit to each relevant
Lender upon the Effective Date and (ii) for the account of the Administrative
Agent, the fees and expenses (including reasonable fees and out-of-pocket
expenses of the Administrative Agent’s outside counsel) of the Administrative
Agent then due and payable on or before the Effective Date.

     

    SECTION
4.         Additional
Covenants.

     

    (a)           On
or prior to the 10th Business Day following the Effective Date (or such later
date as agreed by the Administrative Agent), the Borrower shall have delivered
to the Administrative Agent all documents, instruments and agreements (including
Deposit Account Control Agreements or amendments to existing Deposit Account
Control Agreements) as the Administrative Agent shall require to ensure that it
has a first priority perfected Lien (subject to Liens permitted by Section 8.2(n) and clause (a) of the definition
of Customary Permitted Liens) on and in the Loan Parties’ Deposit Accounts in
each case to the extent such Deposit Accounts constitute
Collateral.

     

    (b)           From
and after the Effective Date through April 30, 2010, the Borrower shall (i)
cause its senior management team, and use its commercially reasonable efforts to
cause Lazard and other appropriate legal and/or financial advisors, to discuss
(at the option of the Borrower, in person or telephonically), on a bi-weekly
basis during regular business hours and for reasonable durational periods, with
the Administrative Agent, its legal advisor and such other professional advisors
retained from time to time by the Administrative Agent, and the Lenders, among
other things, the Borrower’s ongoing financial performance and operations,
liquidity and progress with respect to any restructuring proposal and (ii)
promptly deliver to the Administrative Agent copies of all projections and/or
other financial information delivered to the holders of the New Notes, the
Additional Notes or any other Subordinated Indebtedness.

     

    (c)           The
Borrower shall give the Administrative Agent prompt written notice of the
determination by its Board of Directors (or by any Loan Party) to make any
payment in cash of interest in respect of any of the New Notes, the Additional
Notes or any other Subordinated Indebtedness from the Effective Date through
April 30, 2010, but in any event such notice must be given prior to (i) any such
payment and (ii) any request by the Borrower for a Loan the proceeds of which
may or are intended to be used to make any such payment.

     

    (d)           On
or prior to the 10th Business Day following the Effective Date, the Borrower
shall engage a financial advisor reasonably acceptable to the Administrative
Agent; provided, that
it is agreed that Alix Partners, Alvarez & Marsal and Kroll, Zolfo Cooper
are reasonably acceptable.

     

    (e)           The
Borrower acknowledges and agrees that a failure to comply with any provision of
this Section 4 shall be an immediate Event of Default under the Credit
Agreement.

    
      
         

      

      
        13

        
          

        

      

      
         

      

    

     

    SECTION
5.         Construction with the Loan
Documents.

     

    (a)           On
and after the Effective Date, each reference in the Credit Agreement to “this Agreement,” “hereunder,” “hereof,” “herein,” or words of like
import, and each reference in the other Loan Documents to the Credit Agreement,
shall mean and be a reference to the Credit Agreement as amended and waived
hereby, and this Amendment and the Credit Agreement shall be read together and
construed as a single instrument.  The table of contents, signature
pages and list of Exhibits and Schedules of the Credit Agreement shall be deemed
modified to reflect the changes made by this Amendment.

     

    (b)           Except
as expressly amended hereby, all of the terms and provisions of the Credit
Agreement and all other Loan Documents are and shall remain in full force and
effect and are hereby ratified and confirmed, including the respective
guarantees and security interests granted pursuant to the respective Loan
Documents.

     

    (c)           The
execution, delivery and effectiveness of this Amendment shall not, except as
expressly provided herein, operate as a waiver of any right, power or remedy of
the Lenders, the Issuers, or the Agents under any of the Loan Documents, nor
constitute a waiver or amendment of any provision of any of the Loan Documents
or for any purpose except as expressly set forth herein.

     

    (d)           This
Amendment is a Loan Document.

     

    (e)           This
Amendment shall not extinguish, discharge or release the Lien or priority of any
Loan Document or any other security therefor or any guarantee
thereof.  The Credit Agreement and each of the other Loan Documents
shall remain in full force and effect, except as modified or waived hereby in
connection herewith.

     

    SECTION
6.         Governing Law. This
Amendment is governed by, and shall be construed in accordance with, the law of
the State of New York.

     

    SECTION
7.         Representations And
Warranties.  The Borrower hereby represents and warrants
that:

     

    (a)           Each
of the representations and warranties made by it in the Credit Agreement, as
amended and waived hereby, and the other Loan Documents to which it is a party,
shall be true and correct in all material respects on and as of the date hereof
(other than representations and warranties in any such Loan Document which
expressly speak as of a specific date, which shall have been true and correct in
all material respects as of such specific date) and no Default or Event of
Default has occurred and is continuing as of the date hereof.

     

    (b)           This
Amendment has been duly executed and delivered by each Loan Party and
constitutes a legal, valid and binding obligation of such Loan Party,
enforceable in accordance with its terms, subject to applicable bankruptcy,
insolvency, reorganization, moratorium or other laws affecting creditors’ rights
generally and subject to general principles of equity, regardless of whether
considered in a proceeding in equity or at law.

    
      
         

      

      
        14

        
          

        

      

      
         

      

    

    (c)           Execution
and delivery by the Borrower of this Amendment, and consummation of the
transactions contemplated hereby, (i) do not require any consent or approval of,
registration or filing with, or any other action by, any Governmental Authority,
except such as have been obtained or made and are in full force and effect, (ii)
will not violate the Constituent Documents of any Loan Party, (iii) will not
violate any Requirement of Law, (iv) conflict with or result in the breach of,
or constitute a default under, or result in or permit the termination or
acceleration of, any Related Document or any other material Contractual
Obligation of the Borrower or any of its Subsidiaries, and (v) will not result
in the creation or imposition of any Lien on any property of any Loan Party,
except Liens created by the Loan Documents or otherwise permitted by Section 8.2
of the Credit Agreement.

     

    (d)           The
liquidity forecasts of the Borrower and its Subsidiaries on a monthly basis
through June 2010 and on a quarterly basis through December 2010, as furnished
to the Administrative Agent, have been prepared in good faith by the Borrower
and based on assumptions believed by the Borrower to be reasonable at the time
furnished to the Administrative Agent (it being recognized that such projections
are not to be viewed as facts and that actual results during the period or
periods covered by any such projections may differ from the projected results,
and such differences may be material).

     

    (e)           The
Schedules to the Pledge and Security Agreement attached hereto as Exhibit I are true and
correct in all material respects as though the representations and warranties in
the Pledge and Security Agreement to which such Schedules relate were made on
and as of the Effective Date.1

     

    SECTION
8.         Execution in
Counterparts.  This Amendment may be executed in any number of
counterparts and by different parties 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.  Signature pages
may be detached from multiple separate counterparts and attached to a single
counterpart so that all signature pages are attached to the same
document.  Delivery of an executed counterpart by telecopy shall be
effective as delivery of a manually executed counterpart of this
Amendment.

     

    SECTION
9.         Updated Schedule I
(Commitments).  The parties hereto agree that (i) Schedule I (Commitments)
attached hereto reflects the Revolving Credit Commitments as of the Fourth
Amendment Effective Date and (ii) the aggregate amount of the Revolving Credit
Commitments on the effective date is $90,000,000.

     

    SECTION
10.       Release.  In
further consideration of the Lenders’ execution of this Amendment, the Borrower
unconditionally and irrevocably acquits and fully forever releases and
discharges each Lender, each Issuer, the Administrative Agent, the Syndication
Agent, the Documentation Agent and all affiliates, partners, subsidiaries,
officers, employees, agents, attorneys, principals, directors and shareholders
of such Persons, and their respective heirs, legal representatives, successors
and assigns (collectively, the “Releasees”) from any
and all claims, demands, causes of action, obligations, remedies, suits, damages
and liabilities of any nature whatsoever, whether now known, suspected or
claimed, whether arising under common law, in equity or under statute, which the
Borrower ever had or now has against any of the Releasees (a) which may have
arisen at any time prior to the date hereof and (b) which were in any manner
related to this Amendment, the Credit Agreement, any other applicable Loan
Document or related documents, instruments or agreements or the enforcement or
attempted or threatened enforcement by any of the Releasees of any of their
respective rights, remedies or recourse related thereto (collectively, the
“Released
Claims”).  The Borrower covenants and agrees never to commence,
voluntarily aid in any way, prosecute or cause to be commenced or prosecuted
against any of the Releasees any action or other proceeding based upon any of
the Released Claims.

    

    [Signature
Pages
Follow]

     

    
      
        
          

        
1 Given that the company has formed a number of new subsidiaries, new
schedules are appropriate.

    

     

    
      
        
        

      

      
        15

        
          

        

      

      
        
        

      

    

     

    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.

     

    
      
        	 
      	
                U.S.
      CONCRETE, INC.

              
	 
      	
                as
      Borrower

              
	 
      	 
      
	 
      	
                By:  

              	
                /s/ Robert D. Hardy

              
	 
      	 
      	
                Name:  

              	
                Robert
      D. Hardy

              
	 
      	 
      	
                Title:

              	
                Executive
      Vice President and Chief

              
	 
      	 
      	 
      	
                Financial
      Officer

              

      

    

     

    
      [SIGNATURE
PAGE – AMENDMENT NO. 4 TO AMENDED AND RESTATED CREDIT AGREEMENT]

        
          
             

          

          
            
            

            
              

            

          

          
             

          

        

      

    

    

    
      
        	 
      	
                Citicorp
      North America, Inc.,

              
	 
      	 
      	
                as
      Administrative Agent, Swing Loan Lender and

                Lender

              
	 
      	 
      
	 
      	
                By:

              	
                /s/ Matthew Paquin

              
	 
      	 
      	
                Name:  

              	
                Matthew
      Paquin

              
	 
      	 
      	
                Title:

              	
                Vice
      President and Director

              

      

    

    
       

      [SIGNATURE
PAGE – AMENDMENT NO. 4 TO AMENDED AND RESTATED CREDIT
AGREEMENT]

    

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

     

    
      
        	 
      	
                JPMorgan
      Chase
      Bank,
      as Documentation
      Agent

              
	 
      	 
      	
                and
      Lender

              
	 
      	 
      
	 
      	
                By:

              	
                /s/ Mario Quintanilla

              
	 
      	 
      	
                Name:  

              	
                Mario
      Quintanilla

              
	 
      	 
      	
                Title:

              	
                Vice
      President

              

      

    

    

    
      [SIGNATURE
PAGE – AMENDMENT NO. 4 TO AMENDED AND RESTATED CREDIT
AGREEMENT]

    

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

     

    
      
        	 
      	
                Capital
      One,
      N.A., as
      Lender

              
	 
      	 
      
	 
      	
                By:

              	
                David L. Denbina

              
	 
      	 
      	
                Name:  

              	
                David
      L. Denbina, P.E.

              
	 
      	 
      	
                Title:

              	
                Senior
      Vice President

              

      

    

    

    
      [SIGNATURE
PAGE – AMENDMENT NO. 4 TO AMENDED AND RESTATED CREDIT
AGREEMENT]

    

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

     

    
      
        	 
      	
                Comerica
      Bank,
      as
      Lender

              
	 
      	 
      
	 
      	
                By:

              	
                Sarah R. Miller

              
	 
      	 
      	
                Name:  

              	
                Sarah
      R. Miller

              
	 
      	 
      	
                Title:

              	
                Vice
      President

              

      

    

     

    
      [SIGNATURE
PAGE – AMENDMENT NO. 4 TO AMENDED AND RESTATED CREDIT
AGREEMENT]

    

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    CONSENT AND REAFFIRMATION OF
GUARANTORS

    

    
      
        
          
            	 
      	
                    Dated
      as of February 19,
2010

                  

          

        

      

    

    

    Each of
the undersigned, as a Guarantor under the Guaranty dated as of March 12, 2004
(the “Guaranty”), and
as a Loan Party under each Collateral Document to which it is a party, hereby
consents to that certain Amendment No. 4 and Waiver to Amended and Restated
Credit Agreement dated as of the date hereof and to which this consent and
reaffirmation is attached (the “Amendment”) and hereby
confirms and agrees that notwithstanding the effectiveness of the Amendment, the
Guaranty and all Liens granted by it pursuant to the Collateral Documents are,
and shall continue to be, in full force and effect and are hereby ratified and
confirmed in all respects, except that, on and after the effectiveness of the
Amendment, each reference in the Guaranty and such Collateral Documents to the
“Credit Agreement”,
“thereunder”, “thereof” or words of like
import shall mean and be a reference to the Credit Agreement, as amended or
waived by the Amendment.

     

    
      
        
          
            
              	 
      	
                      Kurtz
      Gravel Company

                    
	 
      	
                      Superior
      Holdings, Inc.

                    
	 
      	
                      Titan
      Concrete Industries, Inc.

                    
	 
      	 
      
	 
      	
                      By:  

                    	
                      /s/ Robert D. Hardy

                    
	 
      	 
      	
                      Name:  

                    	
                      Robert
      D. Hardy

                    
	 
      	 
      	
                      Title:

                    	
                      Vice
      President and Secretary

                    
	 
      	 
      	 
      
	 
      	
                      Breckenridge  Ready
      Mix, Inc.

                    
	 
      	 
      	 
      
	 
      	
                      By:  

                    	
                      /s/ Robert D. Hardy

                    
	 
      	 
      	
                      Name:  

                    	
                      Robert
      D. Hardy

                    
	 
      	 
      	
                      Title:

                    	
                      Vice
      President

                    
	 
      	 
      	 
      
	 
      	
                      Riverside
      Materials, LLC

                    
	 
      	 
      	 
      
	 
      	
                      By:  

                    	
                      /s/ Robert D. Hardy

                    
	 
      	 
      	
                      Name:  

                    	
                      Robert
      D. Hardy

                    
	 
      	 
      	
                      Title:

                    	
                      President
      and Secretary

                    
	 
      	 
      	 
      
	 
      	
                      Eastern
      Concrete Materials, Inc.

                    
	 
      	 
      	 
      
	 
      	
                      By:  

                    	
                      /s/ Robert D. Hardy

                    
	 
      	 
      	
                      Name:  

                    	
                      Robert
      D. Hardy

                    
	 
      	 
      	
                      Title:

                    	
                      President
      and
Secretary

                    

            

          

        

      

    

    

    [SIGNATURE
PAGE – CONSENT AND REAFFIRMATION OF GUARANTORS]

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    

    
      
        	 
      	
                Alberta
      Investments, Inc.

              
	 
      	
                Alliance
      Haulers, Inc.

              
	 
      	
                American
      Concrete Products, Inc.

              
	 
      	
                Atlas
      Redi-Mix, LLC

              
	 
      	
                Atlas-Tuck
      Concrete, Inc.

              
	 
      	
                Beall
      Concrete Enterprises, LLC

              
	 
      	
                Beall
      Industries, Inc.

              
	 
      	
                Beall
      Management, Inc.

              
	 
      	
                Builders’
      Redi-Mix, LLC

              
	 
      	
                BWB,
      Inc. of Michigan

              
	 
      	
                Central
      Concrete Supply Co., Inc.

              
	 
      	
                Central
      Precast Concrete, Inc.

              
	 
      	
                Hamburg
      Quarry Limited Liability Company

              
	 
      	
                Ingram
      Concrete, LLC

              
	 
      	
                MG,
      LLC

              
	 
      	
                Redi-Mix
      Concrete, L.P.

              
	 
      	
                Redi-Mix
      GP, LLC

              
	 
      	
                Redi-Mix,
      LLC

              
	 
      	
                San
      Diego Precast Concrete, Inc.

              
	 
      	
                Sierra
      Precast, Inc.

              
	 
      	
                Smith
      Pre-Cast, Inc.

              
	 
      	
                Superior
      Concrete Materials, Inc.

              
	 
      	
                U.S.
      Concrete On-Site, Inc.

              
	 
      	
                USC
      Management Co., LLC

              
	 
      	
                USC
      Payroll, Inc.

              
	 
      	
                USC
      Technologies, Inc.

              

      

    

    

    
      
        	 
      	
                By:  

              	
                /s/ Curt M. Lindeman

              
	 
      	 
      	
                Name:  

              	
                Curt
      M. Lindeman

              
	 
      	 
      	
                Title:

              	
                Vice
      President and Secretary

              

      

    

    

    
      
        	 
      	
                Local
      Concrete Supply & Equipment, LLC

              
	 
      	
                Master
      Mix Concrete, LLC

              
	 
      	
                Master
      Mix, LLC

              
	 
      	
                NYC
      Concrete Materials, LLC

              
	 
      	
                Pebble
      Lane Associates, LLC

              

      

    

    

    
      
        	 
      	
                By:  

              	
                /s/ Curt M. Lindeman

              
	 
      	 
      	
                Name:  

              	
                Curt
      Lindeman

              
	 
      	 
      	
                Title:

              	
                President
      and Secretary

              

      

    

    

    [SIGNATURE
PAGE – CONSENT AND REAFFIRMATION OF GUARANTORS]

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    

    
      
        	 
      	
                Concrete
      XXXIII Acquisition, Inc.

              
	 
      	
                Concrete
      XXXIV Acquisition, Inc.

              
	 
      	
                Concrete
      XXXV Acquisition, Inc.

              
	 
      	
                Concrete
      XXXVI Acquisition, Inc.

              

      

    

    

    
      
        	 
      	
                By:  

              	
                /s/ Curt M. Lindeman

              
	 
      	 
      	
                Name:  

              	
                Curt
      Lindeman

              
	 
      	 
      	
                Title:

              	
                President

              

      

    

    

    
      
        	 
      	
                Concrete
      Acquisition III, LLC

              
	 
      	
                Concrete
      Acquisition IV, LLC

              
	 
      	
                Concrete
      Acquisition V, LLC

              
	 
      	
                Concrete
      Acquisition VI, LLC

              

      

    

    

    
      
        	 
      	
                By:  

              	
                /s/ Curt M. Lindeman

              
	 
      	 
      	
                Name:  

              	
                Curt
      Lindeman

              
	 
      	 
      	
                Title:

              	
                President

              

      

    

    

    [SIGNATURE
PAGE – CONSENT AND REAFFIRMATION OF GUARANTORS]

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    

    
      
        	 
      	
                USC
      Atlantic, Inc.

              
	 
      	 
      	 
      
	 
      	
                By:  

              	
                /s/ Sean Gore

              
	 
      	 
      	
                Name:  

              	
                Sean
      Gore

              
	 
      	 
      	
                Title:

              	
                Vice
      President and Secretary

              

      

    

    

    
      
        	 
      	
                USC
      Michigan, Inc.

              
	 
      	 
      	 
      
	 
      	
                By:  

              	
                /s/ Michael W. Harlan

              
	 
      	 
      	
                Name:  

              	
                Michael
      W. Harlan

              
	 
      	 
      	
                Title:

              	
                Vice
      President and Secretary

              

      

    

     

    
      [SIGNATURE
PAGE – CONSENT AND REAFFIRMATION OF GUARANTORS]

    

     

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    SCHEDULE
I (COMMITMENTS)

    

    
      
        
          
            
              
                	
                        Lender

                      	 	
                        Revolving Credit Commitment
    ($)

                      	 
	
                        Citicorp
      North America, Inc.

                      	 	$	16,800,000	 
	
                        Bank
      of America, N.A.

                      	 	$	16,800,000	 
	
                        JPMorgan
      Chase Bank N.A.

                      	 	$	16,800,000	 
	
                        Branch
      Banking and Trust Co.

                      	 	$	16,140,000	 
	
                        Capital
      One, N.A.

                      	 	$	10,740,000	 
	
                        Comerica
      Bank

                      	 	$	6,720,000	 
	
                        Wells
      Fargo Bank, N.A.

                      	 	$	6,000,000	 
	
                        Total

                      	 	$	90,000,000

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00168-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00168-of-00352.parquet"}]]