Document:

Exhibit 10.32

 

RETIREMENT AND RELEASE AGREEMENT

 

Stephen B. Dobbs and Fluor Enterprises, Inc. have reached the following Retirement and Release Agreement (“Agreement”) in connection with Mr. Dobbs’ retirement and separation of employment from Fluor Enterprises, Inc.  In this Agreement, “Employee” refers to Stephen B. Dobbs.  “Company” refers to Fluor Enterprises, Inc.

 

1.              Payments.  The Company agrees to make the payments and accommodations provided below in consideration of Employee’s execution of this Agreement and the attached exhibit as referenced and provided for herein.  Employee understands that the Company will deduct from any payments specified herein federal withholding taxes and other deductions the Company is required by law to make from wage and other payments to employees.  Employee further understands that the payments and other benefits set forth in this Paragraph 1 are all the Employee is entitled to receive from the Company except for those amounts described in Paragraph 5 to which Employee may be entitled.  Employee understands and agrees that he will receive no further wage, vacation or other similar payments from the Company.

 

a.              The Company will continue Employee’s active employment at his normal base salary up to and including June 6, 2014 (the “Retirement Date”), at which time Employee will retire from the Company. During this time until the Retirement Date, Employee shall remain an employee of the Company and shall undertake all such tasks and duties as requested to ensure that there is a smooth handover of his responsibilities and a seamless transition. The Company intends that Employee’s performance of services during this time will be sufficient such that there will be no separation of services for purposes of Section 409A of the Internal Revenue Code (the “Code”).

 

b.              Employee will receive a total payment of $1,246,000 which is equal to two (2) times his base salary as of the date of this Agreement (the “Separation Payment”) as follows:

 

(i)             50% of the Separation Payment ($623,000) will be paid upon the later of: (1) Employee’s  Retirement Date; or (2) within two weeks of the effective date of this Agreement;

 

(ii)          25% of the Separation Payment ($311,500) will be paid in January 2015; and

 

(iii)       25% of the Separation Payment ($311,500) will be paid in June 2015.

 

c.               The payments in Paragraph 1b above are intended to include any and all payments to which Employee may be entitled under the Company’s Executive Severance Policy and are not intended to be in addition to, or duplicative of, the Company’s Executive Severance Policy.

 

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d.              For the purpose of Employee’s Fluor stock incentives, and subject to the terms and conditions set forth in the applicable incentive plans and agreements, Employee’s separation of employment will be treated as being in connection with retirement provided Employee executes and delivers to the Company a non-competition agreement in the form attached as Exhibit 1:

 

(i)             Restricted Stock Unit awards (“RSUs”), Options, and VDI Units held by Employee at least one-year prior to retirement shall continue to vest and continue to be payable in accordance with their terms on the dates set out in the Awards notwithstanding such termination.

 

(ii)          Employee shall have three years to exercise vested Options following the date of his retirement (but in no case beyond the original 10-year term of the Option).  For option grants still vesting, Employee shall have three years to exercise after the vesting of the last portion of each grant.  For example, for options granted in 2013 that complete vesting in 2016, Employee will have until 2019 to exercise.

 

(iii)       See attached summary of “Outstanding Fluor Long Term Incentives” at Schedule A for additional information.

 

e.               All accrued unused TOWP will be included in Employee’s final pay, and paid out on Employee’s Retirement Date.

 

2.              No Obligation to Make Payment under Normal Policies.  Employee agrees that the payments and accommodations described in Paragraph 1a — 1d above are more than the Company is required to pay and/or provide under its normal policies and procedures.

 

3.              Complete Release.  Employee agrees to release the Company, and its current and former parent companies, subsidiaries, affiliated companies, related companies and joint ventures and each of their respective current and former officers, directors, board members, shareholders, affiliates and controlling person (if any), employees, attorneys, representatives, predecessors, successors, assigns, divisions, co-employers, vendors, contractors and all other persons acting by, through, under, or in concert with any of them (collectively “Releasees”) from any and all claims, charges, complaints, lawsuits, liabilities, obligations, promises, agreements, damages, actions, causes of action, rights, demands, costs, losses, debts and expenses, injuries and grievances of any and every kind.  Said release includes, but is not limited to, a full release of any and all claims for punitive damages, attorneys’ fees, injunctive relief, declaratory relief, equitable relief, loss of wages, loss of other employment, back pay, front pay, liquidated damages, compensatory damages, personal injury, emotional distress, mental anguish, libel, slander, defamation, vacation pay, sick pay, pension contributions or benefits, medical or health benefits, short or long term disability benefits, and any other employee benefits; and any and all claims and demands of any other kind and nature whatsoever, foreseen, unforeseen, or unforeseeable, now known or which may hereafter be discovered relating to his employment with and/or separation from Employer, or to any event, act or

 

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omission that has occurred as of the date this Agreement is executed, and includes, but is not limited to, to the fullest extent allowed by law, all liability arising from:

 

·                  Title VII of the Civil Rights Acts of 1964;

·                  the Americans with Disabilities Act of 1990;

·                  the Family and Medical Leave Act;

·                  Genetic Information Nondiscrimination Act of 2008

·                  the Fair Labor Standards Act;

·                  Sections 1981 through 1988 of Title 42 of the United States Code;

·                  the Age Discrimination in Employment Act of 1967;

·                  the Older Workers Benefit and Protection Act of 1990;

·                  the Uniformed Services Employment and Reemployment Act of 1994;

·                  the Employee Retirement Income Security Act of 1974;

·                  the Health Insurance Portability and Accountability Act;

·                  the Occupational and Safety Health Act of 1970;

·                  the Worker Adjustment and Retraining Notification Act;

·                  the Equal Pay Act;

·                  Executive Orders 11246 and 11141;

·                  the Rehabilitation Act of 1973; and

·                  any and all local, state, or federal common laws, statutes, regulations or ordinances.

 

4.              Additional Facts.  Employee agrees and acknowledges that he may hereafter discover facts different from, or in addition to, those he now believes to be true with respect to any or all of the claims or demands herein released.  Nevertheless, the Company and Employee agree that the release set forth above shall be and remain effective in all respects, notwithstanding the discovery of such different or additional facts.

 

5.              Release Inapplicable to Retirement Benefits.  This release does not include a release of Employee’s right, if any, to retirement benefits under the Company’s standard retirement programs.

 

6.              No Future or Pending Claims/Lawsuits.  Employee represents that he has no pending complaints, actions, charges or claims of any nature (on his own behalf or in conjunction with any other person or entity) against the Releasees based on, or related to, any events or actions that occurred prior to the execution of this Agreement, and that Employee is not currently aware of facts that would support any such claim.  Employee also agrees not to file any lawsuits or similar actions or complaints of any nature against one or more of the Releasees relating to any event or alleged event, including, but not limited to, any claim that is released in Paragraphs 3 and 4, which occurred or arose on or before the date this Agreement is executed by him.  Employee acknowledges that nothing in this Paragraph 6 or this Agreement prohibits him from either filing charges/complaints with any governmental agency or participating in a proceeding before any governmental agency.  However, under these circumstances, Employee

 

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agrees that he will not be entitled to any financial recovery or non-monetary relief from any judgment, decision, or award upon any claim released by him in Paragraph 3 or 4 above.

 

7.              Non-Admission of Wrongdoing.  By making this Agreement, neither the Company nor the Employee admits that they have done anything wrong.

 

8.              Non-Release of Future Claims.  This Agreement does not waive or release any rights or claims that Employee may have under the Age Discrimination in Employment Act, Title VII of the Civil Rights Act of 1964 or the Americans with Disabilities Act which arise after the date the Employee signs this Agreement.  In addition, the Company and Employee acknowledge and agree that the release set forth in Paragraphs 3 and 4 does not include any claims Employee may have against the Company for its failure to comply with or breach of any provision in this Agreement.

 

9.              Return of Company Property.  Employee’s failure to return and deliver on or before the Retirement Date all Company property, including but not limited to, any and all documents, records, notebooks, reports, blueprints, manuals, etc. downloaded by him or provided to him by the Company, and all documents, materials of a secret, confidential, proprietary, or attorney-client privilege nature relating to the Company’s business and which are in his possession or under his control and to maintain the confidentiality of such materials thereafter will be deemed a breach of this Agreement entitling the Company to all remedies allowable under the law, including but not limited to an injunction and return of certain payments and accommodations described in Paragraph 1.  Notwithstanding the foregoing, the Company agrees to permit Employee to retain his assigned Company Blackberry, and/or iPhone, and iPad; provided however that Employee understands and agrees that such equipment shall be wiped clean by appropriate Company personnel consistent with Company policy and practice.

 

10.       Consequences of Employee Breach of Promises.  If Employee breaches the covenants set forth in Paragraph 6 of this Agreement and files a lawsuit based on legal claims that he has released, or otherwise breaches in this Agreement, Employee understands and agrees that the Company will be entitled to assert all rights and remedies, in law and in equity, that it may be entitled to as a result of any breach of this Agreement.

 

11.       Period for Review and Consideration of Agreement.  Employee acknowledges that he has been given a period of at least 21 days to review and consider this Agreement before signing it.  Employee further understands that he may use as much (or as little) of this 21 day period as he wishes prior to signing.

 

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12.       Waiver of ADEA Claims.  The release set forth above includes a waiver of rights and claims which Employee may have arising under the Age Discrimination in Employment Act of 1967 (Title 29, United States Code, Section 621, et seq.) (“ADEA”).   In compliance with the Older Workers Benefit and Protection Act of 1990:

 

a.              Employee is advised to consult with an attorney before accepting this agreement and waiving his rights and claims under the ADEA.  Employee understands that by signing this release, he waives his rights and/or claims under the ADEA.

 

b.              Employee acknowledges that he has been given a period of up to twenty-one (21) days to review and consider this Agreement and to consult with an attorney, accountant and/or other advisors before signing and that the actual time he has taken for such purposes was adequate for all appropriate consultations.  Any changes in this agreement, whether material or immaterial, do not restart the running of the 21-day period.

 

c.               Employee understands that he has a period of seven (7) days, commencing with the day after the date of his signature on this Agreement, to revoke this agreement.  To revoke, Employee must notify Richard Fine, Fluor Corporation, 6700 Las Colinas Blvd. (W1H), Irving, TX  75039 or by facsimile at 469.398.7288.  Such written notice must be received no later than 5:00 pm (CST) on the seventh day after Employee signs this Agreement.

 

d.              This Settlement and Release Agreement will not be effective or enforceable until Employee has returned the fully executed Agreement and the seven day period has expired.  If Employee revokes this Agreement, it shall not be effective or enforceable.  Further, if this Agreement is revoked, other than the payment provided for in Paragraph 1e, Employee will not receive the payments and accommodations described in Paragraph 1.

 

13.       Confidential Information; No Solicitation.  Employee understands and agrees that in the course of Employee’s employment with the Company, Employee has acquired confidential information and trade secrets concerning the Company’s operations, its future plans and its methods of doing business.  Employee understands and agrees it would be extremely damaging to the Company if Employee disclosed such information to a competitor or made it available to any other person or company.  Employee understands and agrees that such information has been divulged to him in confidence and he understands and agrees that he will keep such information secret and confidential unless disclosure is required by court order or otherwise by compulsion of law.  Employee further agrees that he will not solicit or participate in or assist in any way in the solicitation of any employees of the Company or of any of its affiliates up to and including June 6, 2015.  In view of the nature of Employee’s employment and the information and trade secrets which Employee has received during the course of Employee’s employment, Employee also agrees that the Company would be irreparably harmed by any violation, or threatened violation of the agreements in this paragraph and 

 

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that, therefore, the Company shall be entitled to an injunction prohibiting Employee from any violation or threatened violation of such agreements.

 

14.       Authorized Disclosures. Nothing in Paragraph 13 shall prevent Employee from responding truthfully and accurately to any inquiry or request for information when required by court order, a government investigation or otherwise by compulsion of law.  If any inquiry or request for information is required by court order or compulsion of law, Employee will provide the Company with commercially reasonable adequate notice in advance of such proposed disclosure to enable the Company to be heard with respect to any such disclosure.

 

Employee shall notify:

 

Fluor Enterprises, Inc.

Attention:  Carlos M. Hernandez, Executive Vice President

6700 Las Colinas Blvd.

Irving, TX  75039

Facsimile:  (469) 398-7700

 

In the event of a material breach or threatened material breach of Paragraph 13 the Company, in addition to its other remedies at law or in equity, shall be entitled to injunctive or other equitable relief in order to enforce or prevent any violations of such paragraph.

 

15.       Section 409A.

 

a.              It is intended that the payment of all severance benefits pursuant to Paragraph 1b(i) through Paragraph 1b(iii) and Paragraph 1d of this Agreement be exempt from Section 409A of the Code and the regulations promulgated thereunder (“Section 409A) due to (i) the involuntary termination exception as set forth in Section 1.409A-1(b)((9)(iii) of the final regulations issued under Section 409A or such other exemption as may apply; (ii) the “short-term deferral” rule set forth in Section 1.409A-1(b)(4) of the final regulations issued under Section 409A; or (iii) such other exemption as may apply.

 

b.              Notwithstanding the foregoing, to the extent any payments under this Agreement are subject to (and not exempt from) Section 409A, it is intended that such payments will comply with Section 409A as amounts payable on the earlier of a “fixed schedule” in accordance with Section 1.409A-3(i)(1)(i) of the final regulations issued under Section 409A, , or a “separation from service” as set forth in Section 1.409A-1(h) of the final regulations issued under Section 409A, such that no portion of the payments will be subject to the additional tax imposed under Section 409A, and any ambiguities herein will be interpreted to so comply.

 

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c.               Each payment and benefit payable under this Agreement is intended to constitute separate payments for purposes of Section 1.409A-2(b)(2) of the final regulations issued under Section 409A.

 

d.              This Paragraph 15 is intended to comply with the requirements of Section 409A of the Code so that none of the severance payments and benefits to be provided hereunder will be subject to either (1) the six (6) month delay which may otherwise be required with respect to payments of deferred compensation to “specified Executives” as defined in Section 409A, and (b) any additional tax imposed under Section 409A, and any ambiguities herein will be interpreted to so comply. The Company and Employee agree to work together in good faith to consider amendments to this Agreement and to take such reasonable actions which are necessary, appropriate or desirable to avoid imposition of any additional tax or income recognition prior to actual payment to Employee under Section 409A.  Notwithstanding the foregoing, in the event that it is determined that the payments provided under Paragraph 1b and Paragraph 1d of this Agreement are deferred compensation that are payable pursuant to a separation from service, then such payments will be delayed for six months in accordance with the six month delay rules applicable to the Company’s other nonqualified deferred compensation plans.

 

16.       Assistance in Litigation.  Employee agrees to make himself reasonably available for any future assistance related to any litigation or disputes involving Fluor Corporation, its subsidiaries, joint ventures, or related entities as may be requested by the Company.  For Employee’s involvement and assistance the Company agrees to pay Employee’s reasonable out-of-pocket expenses and to the extent permitted by law, regulation or applicable rules of Court, lost earnings calculated at a rate of $ 665 per hour incurred directly as a result of such assistance

 

17.       Modifications of Agreement.  This Agreement can only be modified in writing and signed by both parties.

 

18.       Interpretation of Agreement. This Agreement will be interpreted in accordance with the plain meanings of its terms and not strictly for or against either of the parties.  The parties agree that any ambiguities will not be construed solely against the drafting party.

 

19.       Applicable Law.  This Agreement shall be governed by and construed and enforced under Texas law, excluding the provisions thereof which refer to the laws of another jurisdiction.

 

20.       Severability.  If any provision or part of this Agreement is held or determined to be invalid or unenforceable for any reason, each such provision or part shall be severed from the remaining provisions of the Agreement or the Agreement shall be read and interpreted as if it did not contain such provision or part.  The validity and enforceability of remaining provisions shall not be affected by any such invalid or unenforceable part or provision.

 

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21.       Entire Agreement.  This Agreement, along with Exhibit 1, which is incorporated by reference as if fully set forth herein, is the entire Agreement between Employee and Company.  In the event that any term or provision of this Retirement and Release Agreement conflicts with the terms and provisions of any confidentiality agreement(s) the Employee signed at the time of hire or during his employment with the Company, the terms and provisions providing the greatest protection to the confidential and proprietary information and trade secrets of Company and its affiliates shall control.  Further, the Company has made no promises to Employee other than those in this Agreement.

 

EMPLOYEE AGREES TO EXECUTE ANY AND ALL DOCUMENTS AS MAY BE REASONABLY NECESSARY TO CARRY OUT THE TERMS AND CONDITIONS OF THIS AGREEMENT, INCLUDING BUT NOT LIMITED TO A FOLLOW-UP RELEASE OF ANY CLAIMS UNDER TITLE VII, ADEA, ADA OR ANY OTHER EMPLOYMENT  RELATED CLAIMS.

 

EMPLOYEE ACKNOWLEDGES THAT HE HAS READ ALL ASPSECTS OF THIS AGREEMENT UNDERSTANDS ITS PROVISIONS, AND THE AFFECT OF SUCH PROVISIONS ON EMPLOYEE’S RIGHTS.  EMPLOYEE ALSO ACKNOWLEDGES THAT THIS AGREEMENT AND THE RELEASE AND WAIVER OF CLAIMS CONTAINED HEREIN ARE KNOWINGLY AND VOLUNTARILY ENTERED INTO.

 

 

	
 
    	
 
    	
 
    	
FLUOR   ENTERPRISES, INC.
    
	
 
    	
 
    	
 
    	
 
    
	
4/28/2014
    	
 
    	
BY:
    	
/s/   Glenn Gilkey
    
	
 
    	
 
    	
 
    	
 
    
	
DATE   SIGNED
    	
 
    	
 
    	
GLENN   GILKEY - SIGNATURE
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
4/28/2014
    	
 
    	
 
    	
/s/   Stephen B. Dobbs
    
	
 
    	
 
    	
 
    	
 
    
	
DATE   SIGNED
    	
 
    	
 
    	
STEPHEN   B. DOBBS - SIGNATURE
    

 

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EXHIBIT 1

 

NON-COMPETITION AGREEMENT

 

This Agreement is between Fluor Enterprises, Inc., (the “Company”) and Stephen B. Dobbs (the “Employee”).

 

Underlying Premises of the Non-competition Agreement

 

Whereas Employee was employed by the Company and a retirement and separation from employment will occur on or about June 6, 2014 (the “Retirement Date”);

 

Whereas Employee desires to have his outstanding grants of unvested stock options and restricted stock fully vested;

 

Whereas the Company, in exchange for the Non-competition Agreement below, has agreed to provide Employee with certain payments and accommodations as provided for in

 

Paragraph 1 of the Retirement and Release Agreement to which this Exhibit 1 is attached and which the Company is not otherwise obligated to provide.

 

NOW, THEREFORE, for good and valuable consideration, Employee and the Company hereby agree to the terms and conditions:

 

1.              Consideration.  In exchange for the promises below, Company agrees to automatically vest Employee’s unvested stock options and restricted stock as provided for in Paragraph 1d of the Retirement and Release Agreement to which this Exhibit 1 is attached and to make the Separation Payments as also provided for in Paragraph 1c of such Agreement.

 

2.              Confidential / Trade Secrets / Company Proprietary Information.  Employee understands and agrees that in the course of Employee’s employment with the Company, Employee has acquired confidential and Company proprietary information and trade secrets concerning the Company’s operations, its future plans and its methods of doing business.  Employee understands and agrees it would be extremely damaging to the Company if Employee disclosed such information to a competitor, made it available to any other person or company, or competed with Company in any way.  Employee understands and agrees that such information has been divulged to him in confidence and that in consideration of the promises made in this Agreement, the Company will continue to provide him with access to such information during his employment and the transition period up to and including the Retirement Date.

 

3.              Non-competition.  For the consideration provided in paragraphs 1 and 2 above, Employee agrees that for a period of one (1) year following his Retirement Date (the “Non-compete Period”), Employee will not, directly or indirectly, engage in any capacity(whether as an employee, partner, consultant, agent or other arrangement) with any other company engaged in or about to become engaged in business that directly competes with the Company and/or its affiliates, including Fluor Corporation (a “Competitive Business”).  A Competitive Business includes any engineering and/or construction company headquartered or having a physical presence in any county or parish in which the Company or its affiliates conducts business operations that are substantially similar to and/or 

 

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competitive with, the Company’s or an affiliate’s business operations as its business exists on the Retirement Date.  The foregoing obligations shall not be deemed to prohibit Employee from being an owner of not more that 5% of the outstanding stock of any class of a corporation which is publicly traded, so long as Employee has no active participation in the business of such corporation.  Employee may obtain written consent of the Executive Vice President of Human Resources and Administration for any exceptions to this Non-competition Agreement.

 

4.              Authority to Reform.  Employee acknowledges and agrees that the geographic and time restrictions set forth herein are reasonable and are no greater than required to adequately protect the Company’s legitimate business.  However, if, at the time of enforcement of this Non-competition Agreement, a court shall refuse to enforce this agreement, whether because the time limit is too long or because the restrictions are more extensive than is necessary to protect the business and goodwill of the Company, the parties understand and agree and direct that the court modify the restrictions to cover the maximum period, scope, and area permitted by law.

 

5.              Remedies.  In the event Employee breaches or threatens to breach any of the restrictive provisions in this Non-competition Agreement, the Company, in addition and supplementary to other rights and remedies existing in its favor, may apply to any court of law or equity of competent jurisdiction for specific performance and/or injunctive or other relief in order to enforce or prevent any violations of the provisions hereof (without posting a bond or other security).

 

6.              Personal Harm.  Irreparable harm shall be presumed if Employee breaches any restrictive covenant of this Non-competition Agreement.  Employee agrees that any court of competent jurisdiction should immediately enjoin any breach of the Agreement on request of the Company.  In the event Employee breaches or violates this Non-competition Agreement, the Non-compete Period shall be tolled until such breach or violation has been duly cured.

 

7.              Governing Law and Venue.  This Agreement shall in all respects be construed according to the laws of the State of Texas without regard to its conflict of law principles. With respect to any claim or dispute related to or arising under this Agreement, the parties hereby consent to the exclusive jurisdiction, forum and venue of the state and federal courts located in Dallas County, Texas and appropriate appellate courts therefrom.

 

8.              Entire Agreement.  This Agreement contains the entire agreement of the parties with respect to the subject matter and supersedes any and all prior understandings, agreements or correspondence between the parties. This Agreement may not be waived or released by the Company unless in writing signed by the Chief Executive Officer of the Company. No course of conduct or failure or delay in enforcing the provisions of this Agreement shall be construed as a waiver of such provisions or affect the validity, binding effect or enforceability of this Agreement or any provision hereof.  Notwithstanding the foregoing, the Retirement and Release Agreement shall remain in full force and effect in accordance with its terms; provided, however, that in the event of a conflict between the specific terms of this Agreement and the terms of such Retirement and Release Agreement, the express language in this Agreement shall control.

 

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FLUOR   ENTERPRISES, INC.
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
4/28/2014
    	
 
    	
BY:
    	
/s/   Glenn Gilkey
    
	
 
    	
 
    	
 
    	
 
    
	
DATE   SIGNED
    	
 
    	
 
    	
GLENN   GILKEY - SIGNATURE
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
4/28/2014
    	
 
    	
 
    	
/s/   Stephen B. Dobbs
    
	
 
    	
 
    	
 
    	
 
    
	
DATE   SIGNED
    	
 
    	
 
    	
STEPHEN   B. DOBBS - SIGNATURE
    

 

11Exhibit 10.1

 

THIRD AMENDMENT TO LOAN AGREEMENT

 

THIS THIRD AMENDMENT TO LOAN AGREEMENT (this “Amendment”) is made and entered into as of April 30, 2014 by and among HCC INSURANCE HOLDINGS, INC., a Delaware corporation (the “Borrower”), the lenders party hereto (the “Lenders”), and WELLS FARGO BANK, NATIONAL ASSOCIATION, as administrative agent for the Lenders (in such capacity, the “Agent”).

 

RECITALS

 

A.                                    The Borrower, the lenders party thereto and the Agent executed and delivered that certain Loan Agreement dated as of March 8, 2011, as amended by the First Amendment to Loan Agreement dated as of September 22, 2011, and the Second Amendment to Loan Agreement dated as of April 26, 2013.  Said Loan Agreement, as heretofore amended, is herein called the “Loan Agreement”.  Any capitalized term used in this Amendment and not otherwise defined shall have the meaning ascribed to it in the Loan Agreement.

 

B.                                    The Borrower, the Lenders and the Agent desire to amend the Loan Agreement in certain respects.

 

C.                                    In connection with the amendments to the Loan Agreement, (i) BMO Harris Bank, N.A. and U.S. Bank National Association (the “New Lenders”) have agreed to become “Lenders” under the Loan Agreement and to purchase a portion of the Revolving Loans outstanding on the date hereof from the Lenders who were party to the Loan Agreement immediately prior to the execution of this Amendment (the “Existing Lenders”) and (ii) the Existing Lenders have agreed to sell and assign to the New Lenders a portion of such Revolving Loans, all pursuant to the terms set forth in this Amendment.

 

NOW, THEREFORE, in consideration of the premises and the mutual agreements, representations and warranties herein set forth, and further good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Borrower, the Lenders and the Agent do hereby agree as follows:

 

SECTION 1.                            Amendments to Loan Agreement.

 

(a)                     The following definitions are hereby added to Section 1.1 of the Loan Agreement, in appropriate alphabetical order:

 

Anti-Corruption Laws means all laws, rules, and regulations of any jurisdiction applicable to the Borrower and its Affiliates concerning or relating to bribery or corruption.

 

Designated Person means any Person listed on a Sanctions List.

 

L/C Sublimit means an amount equal to $400,000,000, it being understood that the L/C Sublimit is part of, and not in addition to, the aggregate Commitments.

 

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OFAC means the U.S. Department of the Treasury’s Office of Foreign Assets Control, and any successor thereto.

 

Sanctioned Country means a country or territory which is at any time subject to Sanctions.

 

Sanctions means (i) economic or financial sanctions or trade embargoes imposed, administered or enforced from time to time by the United States government and administered by OFAC, the United Nations Security Council, the European Union or Her Majesty’s Treasury of the United Kingdom, and (ii) economic or financial sanctions imposed, administered or enforced from time to time by the United States State Department, the United States Department of Commerce or the United States Department of the Treasury.

 

Sanctions List means any of the lists of specifically designated nationals or designated Persons held by the US government and administered by OFAC, the United States State Department, the United States Department of Commerce or the United States Department of the Treasury or the United Nations Security Council or any similar list maintained by the European Union, any other EU Member State or any other U.S. government entity, in each case as the same may be amended, supplemented or substituted from time to time.

 

(b)                     The definition of “Revolving Loan Maturity Date” set forth in Section 1.1 of the Loan Agreement is hereby amended to read in its entirety as follows:

 

Revolving Loan Maturity Date means the maturity of the Notes, April 30, 2019.

 

(c)                      Schedule I of the Loan Agreement is hereby replaced in its entirety with the Schedule I attached hereto as Schedule I.

 

(d)                     The following sentence is hereby added to the end of Section 2.2(a) of the Loan Agreement.

 

“Any reduction of the Commitments pursuant to this Section 2.2(a) that has the effect of reducing the aggregate Commitments to an amount less than the L/C Sublimit at such time shall result in an automatic corresponding reduction of the L/C Sublimit to the amount of the aggregate Commitments (as so reduced).”

 

(e)                      The following sentences are hereby added to the end of Section 2.7(a) of the Loan Agreement:

 

“Notwithstanding anything to the contrary contained in this Agreement or any other Loan Document, no Letters of Credit shall be issued hereunder if, immediately after giving effect to such issuance, the aggregate Letter of Credit Liabilities in respect of all Letters of Credit issued hereunder would exceed the L/C Sublimit.  At any time the aggregate Letter of Credit Liabilities exceed the L/C Sublimit, the Borrower shall provide Cover in an amount equal to such excess.”

 

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(f)                       Section 2.2(b) of the Loan Agreement is hereby amended and restated in its entirety as follows:

 

“(b) Optional Increase.  At any time after the date hereof and so long as no Default or Event of Default shall have occurred which is continuing, Borrower shall have the right to increase the Commitments by an amount not exceeding $175,000,000, in the aggregate, as follows: (i) Borrower shall give at least twenty (20) Business Days’ (or such lesser period as Agent may consent to) prior written notice of such increase to Agent and Agent shall promptly notify the Lenders who are being requested to increase their Commitments, (ii) no Lender shall be required to increase its Commitment unless it shall have expressly agreed to such increase in writing in its sole discretion (but otherwise, no notice to or consent by any Lender shall be required, notwithstanding anything to the contrary set forth in Section 11.5 hereof), (iii) each Lender shall notify Agent whether it agrees to increase its Commitment within the time period specified by Borrower in consultation with Agent and any Lender not responding within such time period shall be deemed to have declined to increase its Commitment, (iv) Borrower shall be entitled to invite additional Persons to be Lenders subject however to (A) the execution of such documentation as Agent may request, including a duly executed lender joinder agreement pursuant to which such Persons agree to be bound by the terms of this Agreement, and (B) the terms and provisions of Sections 11.6(b) and 11.6(g) hereof as if such Persons were acquiring an interest in the Revolving Loans by assignment from an existing Lender (to the extent applicable, i.e. required approvals, minimum amounts, execution of new Notes and the like, provided that no Assignment and Acceptance shall be required to be executed), (v) Borrower and Agent shall determine the effective date and the final allocation of such increase in Commitments and adjustments of the pro rata participation interests of the Lenders in the Letter of Credit Liabilities, (vi) Borrower shall execute and deliver such additional or replacement Notes and such other documentation (including evidence of proper authorization) as may be reasonably requested by Agent, any new Lenders or any Lender which is increasing its Commitment, (vii) each such requested increase shall be in an aggregate amount of at least $25,000,000, (viii) if any new Lenders will be providing Commitments, as an administrative convenience and to avoid the necessity that the existing Lenders and any new Lenders deliver separate Assignment and Acceptances, on the date the increase becomes effective, each of the existing Lenders shall be deemed to have sold and assigned to the new Lenders a portion of its Revolving Loans which are outstanding on such date, and the new Lenders shall be deemed to have purchased a portion of the Revolving Loans, and, in furtherance of the foregoing, each new Lender shall deliver (by wire transfer) to Agent cash in an amount equal to its Revolving Loan Commitment Percentage of the aggregate Revolving Loans outstanding on the effective date of the increase, after giving effect thereto, and Agent shall distribute (by wire transfer) such cash received by it from the new Lenders to the existing Lenders in amounts sufficient to ensure that each such Lender will hold its Revolving Loan Commitment Percentage of the aggregate Revolving Loans outstanding on such date and (ix) Schedule I hereto shall automatically be amended to reflect the Commitments of the Lenders after giving effect to the increase.  Borrower shall be required to pay (or to reimburse each applicable Lender for) any breakage costs incurred by any Lender in connection with the need to reallocate existing Revolving

 

3

 

Loans among the Lenders following any increase in the Commitments pursuant to this provision.”

 

(g)                      The following provision is hereby added to the Loan Agreement as Section 6.17.

 

“6.17                  OFAC; PATRIOT Act.

 

(a)                                 Neither the Borrower or any of its Subsidiaries, nor, to the actual knowledge of Borrower, any of its directors, officers, employees and agents (i) is a Designated Person, (ii) is a Person that is owned or controlled by a Designated Person, (iii) is located, organized or resident in a Sanctioned Country or (iv) has directly or indirectly engaged in, or is now directly or indirectly engaged in, any dealings or transactions (x) with any Designated Person, (y) in any Sanctioned Country, or (z) otherwise in violation of Sanctions.

 

(b)                                 The Borrower, and each of its Subsidiaries that is subject to the Act, is in compliance in all material respects with the provisions of the Act that are applicable to it.  No part of the proceeds of any Loan or Letter of Credit will be used, directly or indirectly, for any payments to any governmental official or employee, political party, official of a political party, candidate for political office, or anyone else acting in an official capacity, in order to obtain, retain or direct business or obtain any improper advantage, in violation of the Anti-Corruption Laws.”

 

(h)                     The following provision is hereby added to the Loan Agreement as Section 7.10.

 

“7.10                  OFAC; PATRIOT Act Compliance.  The Borrower will not, and will cause each of its Subsidiaries not to, (i) fund, finance or facilitate any activities, business or transaction of or with any Designated Person or in any Sanctioned Country, or otherwise in violation of Sanctions, as such Sanctions Lists or Sanctions are in effect from time to time, (ii) use funds or assets obtained directly or indirectly from transactions with or otherwise relating to Designated Persons or any Sanctioned Country to pay or repay any Loan or Reimbursement Obligation, or (iii) directly or indirectly use the proceeds of any Loan or Letter of Credit, or lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or other Person (a) to fund any activities or businesses of or with any Person, or in any country or territory, that, at the time of such funding, is or whose government is, the subject of Sanctions, or (b) in any other manner that would result in a violation of Sanctions by any Person (including any Person participating in the Loans or Letters of Credit, whether as underwriter, advisor, investor, or otherwise).  The Borrower will, and will cause each of its Subsidiaries to, provide, to the extent commercially reasonable, such information and take such actions as are reasonably requested by the Administrative Agent or any Lender in order to assist the Administrative Agent and the Lenders in maintaining compliance with the Act.”

 

(i)                         All references in the Loan Agreement to BARCLAYS BANK PLC and BANK OF AMERICA, N.A., as Co-Syndication Agents, are hereby replaced with BARCLAYS BANK PLC and KEYBANK NATIONAL ASSOCIATION, as Co-Syndication Agents, as applicable.

 

4

 

(j)                        All references in the Loan Agreement to JP MORGAN CHASE BANK, N.A. and THE ROYAL BANK OF SCOTLAND PLC, as Co-Documentation Agents, are hereby replaced with BANK OF AMERICA, N.A., BMO HARRIS BANK, N.A., JPMORGAN CHASE BANK, N.A., THE ROYAL BANK OF SCOTLAND PLC, and U.S. BANK NATIONAL ASSOCIATION, as Co-Documentation Agents, as applicable.

 

SECTION 2.                            Conditions Precedent.  The effectiveness of this Amendment is subject to the satisfaction of each of the following conditions precedent:

 

(a)                     the Agent shall have received (i) an executed counterpart of this Amendment from the Borrower and each of the Lenders and (ii) to the extent requested by any Lender, a Revolving Note executed by the Borrower;

 

(b)                     the Borrower shall have paid all fees and expenses required to be paid on or prior to the date hereof (including reasonable fees and expenses of counsel) pursuant to the terms of the engagement letter dated March 28, 2014 among the Borrower, the Agent and Wells Fargo Securities, LLC;

 

(c)                      the Agent shall have received legal opinions from (i) in-house counsel to the Borrower and (ii) New York counsel to the Borrower, consistent with the legal opinions delivered in connection with the closing of the Loan Agreement on March 8, 2011, covering this Amendment and the Loan Agreement as amended by this Amendment;

 

(d)                     the Agent shall have received a certificate, signed by a Responsible Officer of the Borrower, in form and substance reasonably satisfactory to the Agent, certifying that (A) all representations and warranties of the Borrower contained in Article 6 of the Loan Agreement and in the other Loan Documents (including the representations and warranties set forth in Section 7 hereof) are true and correct (if qualified as to materiality) or true and correct in all material respects (if not so qualified) on and as of the date hereof, both immediately before and after giving effect to this Amendment (except to the extent any such representation or warranty speaks as of a specific date, in which case such representation or warranty shall be true and correct (if qualified as to materiality) or true and correct in all material respects (if not so qualified) on and as of such date), and except that for purposes of this Amendment, the representations and warranties contained in Section 6.2(a) of the Loan Agreement shall be deemed to refer to the most recent financial statements furnished pursuant to Section 7.2 of the Loan Agreement, and (B) no Default or Event of Default has occurred and is continuing, both immediately before and after giving effect to this Amendment;

 

(e)                      the Agent shall have received such documents and certificates as the Agent or its counsel may reasonably request relating to the organization, existence and good standing of the Borrower and the authorization of the execution and delivery of this Amendment, all in form and substance reasonably satisfactory to the Agent and its counsel;

 

(f)                       the Borrower shall have paid to the Agent, (i) for the account of each of the Existing Lenders, an upfront fee equal to 12.5 basis points on their respective Commitments as in effect immediately prior to the execution of this Amendment (to the extent such Commitments continue in effect after giving effect to this Amendment), (ii) for the account of each of the

 

5

 

Existing Lenders, an upfront fee equal to 25 basis points on the amount of any increase in their respective Commitments after giving effect to this Amendment and (iii) for the account of each of the New Lenders, an upfront fee equal to 25 basis points on their respective Commitments after giving effect to this Amendment; and

 

(g)                      the Agent shall have received from the Borrower all documentation and other information requested by any Lender that is required to satisfy applicable “know your customer” and anti-money laundering rules and regulations, including without limitation the PATRIOT Act.

 

SECTION 3.                            New Lenders.

 

(a)                                 Assumption and Assignment. Each of the parties hereto acknowledges and agrees that each of the Existing Lenders desires to sell and assign a portion of its outstanding Revolving Loans to the New Lenders.  As an administrative convenience and to avoid the necessity that the Existing Lenders and New Lenders deliver separate Assignment and Acceptances, the parties hereto acknowledge and agree that, effective as of the date hereof, each of the Existing Lenders shall be deemed to have sold and assigned to the New Lenders a portion of its Revolving Loans which are outstanding on the date hereof, and the New Lenders shall be deemed to have purchased a portion of the Revolving Loans, as more fully set forth in Section 3(b) hereof.

 

(b)                                 Joinder of New Lenders; Funding by New Lenders.  Effective on the date hereof, (i) each New Lender shall be deemed to be a party to and a “Lender” under the Loan Agreement and shall be bound by all of the terms and provisions applicable to Lenders under the Loan Agreement; (ii) each New Lender shall deliver (by wire transfer) to the Agent cash in an amount equal to its Revolving Loan Commitment Percentage of the aggregate Revolving Loans outstanding on the date hereof, after giving effect hereto; and (iii) the Agent shall distribute (by wire transfer) such cash received by it from the New Lenders to the Existing Lenders in amounts sufficient to ensure that each such Lender will hold its Revolving Loan Commitment Percentage of the aggregate Revolving Loans outstanding on the date hereof.

 

(c)                                  New Lender Representations and Warranties.  Each New Lender (i) represents and warrants that (A) it is legally authorized to enter into this Amendment and the Loan Agreement, as amended by this Amendment, and to consummate the transactions contemplated by this Amendment; (B) it is sophisticated with respect to decisions to acquire assets of the type represented by the Revolving Loans purchased by it pursuant to Section 3(a) and either it or the Person exercising discretion in making its decision to enter into this Amendment and the Loan Agreement, as amended by this Amendment, and the transactions contemplated by this Amendment is experienced in acquiring assets of such type; (C) it has received a copy of the Loan Agreement and the other Loan Documents, together with copies of the most recent financial statements delivered pursuant to Section 7.2 of the Loan Agreement and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Amendment and the transactions contemplated by this Amendment; and (D) it has, independently and without reliance upon the Agent or any other Lender and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Amendment and the Loan Agreement, as amended by this Amendment, and the transactions contemplated by this Amendment; (ii) agrees

 

6

 

that (A) it will independently and without reliance upon the Agent or any other Lender and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Loan Agreement; and (B) it will perform in accordance with their terms all the obligations that by the terms of the Loan Agreement are required to be performed by it as a Lender; and (iii) appoints and authorizes the Agent to take such action as agent on its behalf and to exercise such powers under the Loan Agreement as delegated to the Agent, by the terms thereof, together with such powers as are reasonably incidental thereto.

 

(d)                                 Satisfaction of Section 11.6 Requirements.  Notwithstanding anything to the contrary contained in the Loan Agreement, the parties acknowledge and agree that this Section 3 shall be deemed to satisfy all requirements set forth in Section 11.6 of the Loan Agreement for the assignment and assumption of the Revolving Loans and related rights and obligations being sold and assigned pursuant hereto, including without limitation, the requirement that a separate Assignment and Acceptance be entered into in connection with each such sale and assignment.

 

(e)                                  Reallocation of Participations. Effective on the date hereof, the participations in the Letters of Credit and Swing Loans, if any, under the Loan Agreement shall be adjusted to give effect to any change in the Revolving Loan Commitment Percentage of each Lender as a result of this Amendment.

 

SECTION 4.                            Ratification.  Except as expressly amended by this Amendment, the Loan Agreement and the other Loan Documents shall remain in full force and effect.  None of the rights, title and interests existing and to exist under the Loan Agreement are hereby released, diminished or impaired, and the Borrower hereby reaffirms all covenants, representations and warranties in the Loan Agreement (except such representations and warranties which are, by their express terms, limited to a prior date).

 

SECTION 5.                            Expenses.  The Borrower shall pay to the Agent all reasonable fees and expenses of its respective legal counsel (pursuant to Section 11.3 of the Loan Agreement) incurred in connection with the execution of this Amendment.

 

SECTION 6.                            Certifications.  The Borrower hereby certifies that after giving effect to this Amendment (a) no material adverse change in the assets, liabilities, financial condition, business or affairs of the Borrower has occurred since December 31, 2013 and (b) no uncured Default or uncured Event of Default has occurred and is continuing or will occur as a result of this Amendment.

 

SECTION 7.                            Representations.  This Amendment has been duly executed and delivered by Borrower and is a legal, valid and binding obligation of Borrower, enforceable in accordance with its terms, except as may be limited by bankruptcy, insolvency and other similar laws and judicial decisions affecting creditors’ rights generally and by general equitable principles. The execution, delivery and performance of this Amendment (a) have all been duly authorized by all necessary action; (b) are within the power and authority of Borrower; (c) to Borrower’s knowledge, do not and will not contravene or violate any Legal Requirement applicable to Borrower or any of its Subsidiaries or the Organizational Documents of Borrower or any of its

 

7

 

Subsidiaries, the contravention or violation of which would reasonably be expected to have a Material Adverse Effect; (d) do not and will not result in the breach of, or constitute a default under, any material agreement or instrument by which Borrower or any of its Subsidiaries or any of their Properties may be bound the contravention or violation of which would reasonably be expected to have a Material Adverse Effect, and (e) do not and will not result in the creation of any Lien upon any material Property of Borrower or any of its Material Subsidiaries except for Permitted Liens. All necessary permits, registrations and consents for such execution, delivery and performance have been obtained, except where the failure to obtain the same would not reasonably be expected to have a Material Adverse Effect.

 

SECTION 8.                            Pari Passu Obligations.  The Borrower shall ensure that at all times all obligations of the Borrower under the Loan Documents rank at least pari passu with the claims of all of its other unsecured and unsubordinated creditors except those creditors whose claims are mandatorily preferred by laws of general application to companies.

 

SECTION 9.                            Miscellaneous.  This Amendment (a) shall be binding upon and inure to the benefit of the Borrower, the Lenders and the Agent and their respective successors, assigns, receivers and trustees; (b) may be modified or amended only by a writing signed by the required parties; (c) shall be governed by and construed in accordance with the laws of the State of New York and the United States of America and shall be subject to the provisions of Section 11.14 and Section 11.15 of the Loan Agreement; (d) may be executed in several counterparts by the parties hereto on separate counterparts, and each counterpart, when so executed and delivered, shall constitute an original agreement, and all such separate counterparts shall constitute but one and the same agreement and (e) together with the other Loan Documents, embodies the entire agreement and understanding between the parties with respect to the subject matter hereof and supersedes all prior agreements, consents and understandings relating to such subject matter.  The headings herein shall be accorded no significance in interpreting this Amendment.

 

[Remainder of page intentionally left blank]

 

8

 

IN WITNESS WHEREOF, the Borrower, the Lenders and the Agent have caused this Amendment to be signed by their respective duly authorized officers, effective as of the date first above written.

 

 

	
 
    	
HCC   INSURANCE HOLDINGS, INC.,
    
	
 
    	
a   Delaware corporation
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Brad T. Irick
    
	
 
    	
 
    	
Brad   T. Irick, Executive Vice President &
    
	
 
    	
 
    	
Chief   Financial Officer
    
	
 
    	
 
    
	
[Signature Page for   Third Amendment to Loan Agreement]
    

 

 

	
 
    	
WELLS   FARGO BANK, NATIONAL
    
	
 
    	
ASSOCIATION,   as Administrative Agent
    
	
 
    	
and   as a Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Chad D. Johnson
    
	
 
    	
Name:
    	
Chad   D. Johnson
    
	
 
    	
Title:
    	
Senior   Vice President
    
	
 
    	
 
    
	
[Signature Page for   Third Amendment to Loan Agreement]
    

 

 

	
 
    	
BARCLAYS   BANK PLC
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Dan Broome
    
	
 
    	
Name:
    	
Dan   Broome
    
	
 
    	
Title:
    	
Director
    
	
 
    	
 
    
	
[Signature Page for   Third Amendment to Loan Agreement]
    

 

 

	
 
    	
KEYBANK   NATIONAL ASSOCIATION
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   James Cribbet
    
	
 
    	
Name:
    	
James   Cribbet
    
	
 
    	
Title:
    	
Senior   Vice President
    
	
 
    	
 
    
	
[Signature Page for   Third Amendment to Loan Agreement]
    

 

 

	
 
    	
BANK   OF AMERICA, N.A.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Jason Cassity
    
	
 
    	
Name:
    	
Jason   Cassity
    
	
 
    	
Title:
    	
Director
    
	
 
    	
 
    
	
[Signature Page for   Third Amendment to Loan Agreement]
    

 

 

	
 
    	
BMO   HARRIS BANK, N.A.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Debra Basler
    
	
 
    	
Name:
    	
Debra   Basler
    
	
 
    	
Title:
    	
Managing   Director
    
	
 
    	
 
    
	
[Signature Page for   Third Amendment to Loan Agreement]
    

 

 

	
 
    	
JPMORGAN   CHASE BANK, N.A.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Thomas A. Kiepura
    
	
 
    	
Name:
    	
Thomas   A. Kiepura
    
	
 
    	
Title:
    	
Senior   Credit Executive
    
	
 
    	
 
    
	
[Signature Page for   Third Amendment to Loan Agreement]
    

 

 

	
 
    	
THE   ROYAL BANK OF SCOTLAND PLC
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Jonathan Biggs
    
	
 
    	
Name:
    	
Jonathan   Biggs
    
	
 
    	
Title:
    	
Relationship   Director
    
	
 
    	
 
    
	
[Signature Page for   Third Amendment to Loan Agreement]
    

 

 

	
 
    	
U.S.   BANK NATIONAL ASSOCIATION
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Evan Glass
    
	
 
    	
Name:
    	
Evan   Glass
    
	
 
    	
Title:
    	
Senior   Vice President
    
	
 
    	
 
    
	
[Signature Page for   Third Amendment to Loan Agreement]
    

 

 

	
 
    	
AMEGY   BANK, NATIONAL ASSOCIATION
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Kelly Nash
    
	
 
    	
Name:
    	
Kelly   Nash
    
	
 
    	
Title:
    	
Vice   President
    
	
 
    	
 
    
	
[Signature Page for   Third Amendment to Loan Agreement]
    

 

 

	
 
    	
THE   NORTHERN TRUST COMPANY
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Joshua Metcalf
    
	
 
    	
Name:
    	
Joshua   Metcalf
    
	
 
    	
Title:
    	
Officer
    
	
 
    	
 
    
	
[Signature Page for   Third Amendment to Loan Agreement]
    

 

 

	
 
    	
THE   BANK OF NEW YORK MELLON
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Adim Offurum
    
	
 
    	
Name:
    	
Adin   Offurum
    
	
 
    	
Title:
    	
Vice   President
    

 

[Signature Page for Third Amendment to Loan Agreement]

 

 

SCHEDULE I

 

COMMITMENTS

 

	
Wells Fargo Bank, National Association
    	
 
    	
$
    	
135,000,000
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
Barclays Bank PLC
    	
 
    	
$
    	
100,000,000
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
KeyBank National Association
    	
 
    	
$
    	
100,000,000
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
Bank of America, N.A.
    	
 
    	
$
    	
75,000,000
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
BMO Harris Bank, N.A.
    	
 
    	
$
    	
75,000,000
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
JPMorgan Chase Bank, N.A.
    	
 
    	
$
    	
75,000,000
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
The Royal Bank of Scotland PLC
    	
 
    	
$
    	
75,000,000
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
U.S. Bank National Association
    	
 
    	
$
    	
75,000,000
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
Amegy Bank, National Association
    	
 
    	
$
    	
50,000,000
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
The Northern Trust Company
    	
 
    	
$
    	
35,000,000
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
The Bank of New York Mellon
    	
 
    	
$
    	
30,000,000
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
TOTAL
    	
 
    	
$
    	
825,000,000

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