Document:

PNM 12.31.2012 EX 10.1

Exhibit 10.1
2013 Director Compensation Summary

Non-employee directors of PNM Resources, Inc. (the “Company”) receive their annual retainer in the form of cash and stock-based compensation as determined by the Company's Board of Directors. At the December 2012 Board meeting, the Board approved making the following changes to director compensation for 2013:  increasing the lead independent fee from $15,000 to $20,000,  increasing the Compensation Committee chair fee from $5,000 to $10,000, and increasing the market value of the annual award of restricted stock rights from $55,000 to $65,000.  Thus, the 2013 annual retainer for non-employee directors is as follows:
	
			
	Annual Retainer:
	 
	Restricted stock rights* with a grant date market value of $65,000; and an annual cash retainer of $52,500 paid in quarterly installments

	Annual Presiding Lead Director Fee:
	 
	$20,000 paid in quarterly installments

	Annual Committee Chair Fee:
	 
	$ 5,000 paid in quarterly installments (in addition to meeting attendance fees), except that the annual chair fee for the Audit and Ethics Committee and Compensation and Human Resources Committee is $10,000

	Committee Meeting Attendance Fees:
	 
	$ 1,500 per Board Committee meeting

Directors are also reimbursed for any Board-related expenses, such as travel expenses incurred to attend Board and Board committee meetings and director educational programs.  Further, directors are indemnified by the Company to the fullest extent permitted by law pursuant to the Company's bylaws and indemnification agreements between the Company and each director.

* The amount of the annual award of restricted stock rights is determined by dividing $65,000 by the closing price of the Company's stock on the New York Stock Exchange  on the day of the grant.  Restricted stock rights granted under the Company's Omnibus Performance Equity Plan (“PEP”) each vest in three equal annual installments beginning on the first anniversary of the grant date, subject to vesting acceleration upon retirement from the board.  These awards are typically made at the annual meeting of directors, unless the meeting occurs during a black-out period for trading in the Company's securities as specified in the Company's Insider Trading Policy. As set forth under the Company's Equity Compensation Awards Policy, under those circumstances, the Board will either (a) schedule a special meeting after the expiration of the black-out period, (b) make awards pursuant to a unanimous written consent executed after the expiration of the black-out period, or (c) pre-approve the equity awards with an effective date after the expiration of the black-out period. The date of the awards is the date on which the Board approves the awards, unless (i) the approval date is a non-trading day, in which case the date is the immediately preceding trading date or (ii) in the case of pre-approval during a black-out period, in which case the grant date is the first trading date after the expiration of the black-out period.NS 2012 EX10.03

Exhibit 10.03

Execution Version
    

SECOND AMENDMENT
TO
5-YEAR REVOLVING CREDIT AGREEMENT
dated as of
November 30, 2012
among

NUSTAR LOGISTICS, L.P.,
NUSTAR ENERGY L.P.,
JPMORGAN CHASE BANK, N.A.,
as Administrative Agent,
and
The Lenders Party Hereto

    

SIGNATURE PAGE
SECOND AMENDMENT TO 5-YEAR REVOLVING CREDIT AGREEMENT 

SECOND Amendment to 5-YEAR REVOLVING Credit Agreement

THIS SECOND Amendment to 5-YEAR REVOLVING Credit Agreement (this “Second Amendment”) dated as of November 30, 2012, is among NUSTAR LOGISTICS, L.P., a Delaware limited partnership (the “Borrower”); NUSTAR ENERGY L.P., a Delaware limited partnership (the “MLP”); NUSTAR PIPELINE OPERATING PARTNERSHIP L.P., a Delaware limited partnership (the “Subsidiary Guarantor” and, together with the Borrower and the MLP, the “Obligors”);  JPMORGAN CHASE BANK, N.A., as administrative agent (in such capacity, together with its successors in such capacity, the “Administrative Agent”) for the lenders party to the Credit Agreement referred to below (collectively, the “Lenders”); and the undersigned Lenders.
R E C I T A L S
A.    The Borrower, the MLP, the Administrative Agent and the Lenders are parties to that certain 5-Year Revolving Credit Agreement dated as of May 2, 2012 (as amended by that certain First Amendment to 5-Year Revolving Credit Agreement dated as of June 29, 2012, the “Credit Agreement”), pursuant to which the Lenders have made certain extensions of credit available to the Borrower.
B.    The Subsidiary Guarantor is a party to that certain Subsidiary Guaranty Agreement dated as of May 2, 2012 made by each of the Guarantors (as defined therein) in favor of the Administrative Agent (the “Subsidiary Guaranty”).
C.    The Borrower has requested and the Lenders have agreed to amend certain provisions of the Credit Agreement.
D.    NOW, THEREFORE, in consideration of the premises and the mutual covenants herein contained, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:
Section 1.Defined Terms.  Each capitalized term used herein but not otherwise defined herein has the meaning given such term in the Credit Agreement.  Unless otherwise indicated, all references to Sections and Articles in this Second Amendment refer to Sections and Articles of the Credit Agreement.

Section 2.Amendments to Credit Agreement.

2.1  Amendment to Section 1.01.  The definition of "Investment" contained in Section 1.01 is hereby amended by deleting the second sentence of such definition and replacing such sentence with the following:

In addition, a Letter of Credit issued hereunder on behalf or for the benefit of any Joint Venture Interest or any Unrestricted Subsidiary shall constitute an “Investment” in such Joint Venture Interest or such Unrestricted Subsidiary for the purposes hereof.

2.2  Amendment to Section 5.08.  Section 5.08 is hereby amended by deleting the second sentence of such Section 5.08 and replacing such sentence with the following:

SIGNATURE PAGE
SECOND AMENDMENT TO 5-YEAR REVOLVING CREDIT AGREEMENT 

The Letters of Credit shall be used for general business purposes of the Borrower, its Restricted Subsidiaries and (subject to Section 6.04(g)) Joint Venture Interests and its Unrestricted Subsidiaries or for such other purposes as may be approved by the Administrative Agent.
Section 3.Conditions Precedent.  This Second Amendment shall not become effective until the date on which each of the following conditions is satisfied (or waived in accordance with Section 10.02 of the Credit Agreement) (the “Second Amendment Effective Date”):

3.1 The Administrative Agent shall have received from the Required Lenders, the Borrower, the MLP and the Subsidiary Guarantor, counterparts (in such number as may be requested by the Administrative Agent) of this Second Amendment signed on behalf of such Persons.

3.2 The Administrative Agent shall have received such other documents as the Administrative Agent or special counsel to the Administrative Agent may reasonably request.

3.3  No Default shall have occurred and be continuing as of the Second Amendment Effective Date.

Section 4.Miscellaneous.

4.1  Confirmation.  The provisions of the Credit Agreement, as amended by this Second Amendment, shall remain in full force and effect following the Second Amendment Effective Date.

4.2  Ratification and Affirmation; Representations and Warranties.  Each Obligor hereby: (a) acknowledges the terms of this Second Amendment; (b) ratifies and affirms its obligations under, and acknowledges, renews and extends its continued liability under, each Loan Document to which it is a party and agrees that each Loan Document to which it is a party remains in full force and effect, except as expressly amended hereby, after giving effect to the amendments contained herein; (c) agrees that from and after the Second Amendment Effective Date each reference to the Credit Agreement in the Subsidiary Guaranty and the other Loan Documents shall be deemed to be a reference to the Credit Agreement, as amended by this Second Amendment; and (d) represents and warrants to the Lenders that as of the date hereof: (i) all of the representations and warranties contained in each Loan Document to which it is a party are true and correct, unless such representations and warranties are stated to relate to a specific earlier date, in which case, such representations and warranties shall continue to be true and correct as of such earlier date and (ii) no Default has occurred and is continuing.

4.3  Loan Document.  This Second Amendment is a “Loan Document” as defined and described in the Credit Agreement and all of the terms and provisions of the Credit Agreement relating to Loan Documents shall apply hereto.

4.4  Counterparts.  This Second Amendment may be executed by one or more of the parties hereto in any number of separate counterparts, and all of such counterparts taken together shall be deemed to constitute one and the same instrument.  Delivery of this Second Amendment by facsimile transmission shall be effective as delivery of a manually executed counterpart hereof.

SIGNATURE PAGE
SECOND AMENDMENT TO 5-YEAR REVOLVING CREDIT AGREEMENT 

4.5  NO ORAL AGREEMENT.  THIS SECOND AMENDMENT, THE CREDIT AGREEMENT AND THE OTHER LOAN DOCUMENTS EXECUTED IN CONNECTION HEREWITH AND THEREWITH REPRESENT THE FINAL AGREEMENT AMONG THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR UNWRITTEN ORAL AGREEMENTS OF THE PARTIES.  THERE ARE NO ORAL AGREEMENTS BETWEEN THE PARTIES.

4.6  GOVERNING LAW.  THIS SECOND AMENDMENT (INCLUDING, BUT NOT LIMITED TO, THE VALIDITY AND ENFORCEABILITY HEREOF) SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.  

[SIGNATURES BEGIN NEXT PAGE]

SIGNATURE PAGE
SECOND AMENDMENT TO 5-YEAR REVOLVING CREDIT AGREEMENT 

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

NUSTAR LOGISTICS, L.P.

By:    NuStar GP, Inc., its General Partner

By:    /s/ Steven A. Blank            
Name:    Steven A. Blank
Title:     Executive Vice President, Chief
Financial Officer and Treasurer

NUSTAR ENERGY L.P.

		
	By:
	Riverwalk Logistics, L.P., its General Partner

By:    NuStar GP, LLC, its General Partner

By:    /s/ Steven A. Blank            
Name:    Steven A. Blank
Title:     Executive Vice President, Chief
Financial Officer and Treasurer

NUSTAR PIPELINE OPERATING PARTNERSHIP L.P.

By:    /s/ Steven A. Blank            
Name:    Steven A. Blank
Title:     Executive Vice President, Chief
Financial Officer and Treasurer

SIGNATURE PAGE
SECOND AMENDMENT TO 5-YEAR REVOLVING CREDIT AGREEMENT 

JPMORGAN CHASE BANK, N.A., as a Lender, as Swingline Lender, as an Issuing Bank and as Administrative Agent

By:           /s/ Muhammad Hasan            
Name:  Muhammad Hasan            
Title:    Vice President                

SIGNATURE PAGE
SECOND AMENDMENT TO 5-YEAR REVOLVING CREDIT AGREEMENT 

SUNTRUST BANK, as Co-Syndication Agent, an Issuing Bank and as a Lender

By:           /s/ Carmen Malizia            
Name:      Carmen Malizia        
Title:        Vice President    

SIGNATURE PAGE
SECOND AMENDMENT TO 5-YEAR REVOLVING CREDIT AGREEMENT 

BARCLAYS BANK PLC, as Co-Documentation Agent and as a Lender

By:           /s/ Ronnie Glenn            
Name:      Ronnie Glenn                
Title:        Director                

SIGNATURE PAGE
SECOND AMENDMENT TO 5-YEAR REVOLVING CREDIT AGREEMENT 

                

MIZUHO CORPORATE BANK, LTD., as Co-Syndication Agent and as a Lender

By:                               
Name:                          
Title:                            

SIGNATURE PAGE
SECOND AMENDMENT TO 5-YEAR REVOLVING CREDIT AGREEMENT 

WELLS FARGO BANK, NATIONAL ASSOCIATION, 
as Co-Documentation Agent, as an Issuing Bank and as a Lender

By:           /s/ Courtney Kubesch            
Name:      Courtney Kubesch            
Title:        Vice President                

SIGNATURE PAGE
SECOND AMENDMENT TO 5-YEAR REVOLVING CREDIT AGREEMENT 

COMPASS BANK, as a Lender

By:           /s/ Alex Mayral                
Name:  Alex Mayral                
Title:        Executive Director            

SIGNATURE PAGE
SECOND AMENDMENT TO 5-YEAR REVOLVING CREDIT AGREEMENT 

DEUTSCHE BANK AG NEW YORK BRANCH, 
as a Lender

By:           /s/ Ming K. Chu                
Name:      Ming K. Chu                
Title:        Vice President                

By:           /s/ Yvonne Tilden            
Name:      Yvonne     Tilden                
Title:        Director                

SIGNATURE PAGE
SECOND AMENDMENT TO 5-YEAR REVOLVING CREDIT AGREEMENT 

MORGAN STANLEY BANK, N.A., as a Lender

By:           /s/ Dmitriy Barskiy            
Name:      Dmitriy Barskiy     
Title:        Authorized Signatory            

SIGNATURE PAGE
SECOND AMENDMENT TO 5-YEAR REVOLVING CREDIT AGREEMENT 

PNC BANK, NATIONAL ASSOCIATION, as a Lender

By:           /s/ M. Colin Warman            
Name:      M. Colin Warman    
Title:        Vice President        

SIGNATURE PAGE
SECOND AMENDMENT TO 5-YEAR REVOLVING CREDIT AGREEMENT 

        
ROYAL BANK OF CANADA, as a Lender

By:           /s/ Don J. McKinnerney            
Name:      Don J. McKinnerney    
Title:        Authorized Signatory            

SIGNATURE PAGE
SECOND AMENDMENT TO 5-YEAR REVOLVING CREDIT AGREEMENT 

SUMITOMO MITSUI BANKING CORPORATION, 
as a Lender

By:                               
Name:                          
Title:                            

SIGNATURE PAGE
SECOND AMENDMENT TO 5-YEAR REVOLVING CREDIT AGREEMENT 

THE BANK OF TOKYO-MITSUBISHI UFJ, LTD., 
as a Lender

By:           /s/ Paul Farrell                
Name:      Paul Farrell    
Title:        Director                

SIGNATURE PAGE
SECOND AMENDMENT TO 5-YEAR REVOLVING CREDIT AGREEMENT 

THE ROYAL BANK OF SCOTLAND PLC, 
as a Lender

By:           /s/ Todd Vaubel                
Name:      Todd Vaubel                
Title:        Authorized Signatory            

SIGNATURE PAGE
SECOND AMENDMENT TO 5-YEAR REVOLVING CREDIT AGREEMENT 

U.S. BANK NATIONAL ASSOCIATION, as a Lender

By:           /s/ John Prigge                
Name:      John Prigge                
Title:        Vice President                

SIGNATURE PAGE
SECOND AMENDMENT TO 5-YEAR REVOLVING CREDIT AGREEMENT 

UBS AG, Stamford Branch, as a Lender

By:           /s/ Irja R. Otsa                
Name:      Irja R. Otsa                
Title:        Associate Director, Banking Products Services, US

By:           /s/ Joselin Fernandez            
Name:      Associate Director            
Title:        Associate Director, Banking Products Services, US

SIGNATURE PAGE
SECOND AMENDMENT TO 5-YEAR REVOLVING CREDIT AGREEMENT 

BNP PARIBAS, as a Lender

By:           /s/ Joe Onischuk            
Name:      Joe Onischuk                
Title:        Managing Director            

By:           /s/ David Reynolds            
Name:      David Reynolds                
Title:        Vice President                

SIGNATURE PAGE
SECOND AMENDMENT TO 5-YEAR REVOLVING CREDIT AGREEMENT 

CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as a Lender

By:           /s/ Alain Daoust                
Name:      Alain Daoust                
Title:        Director                

By:           /s/ Rahul Parmar            
Name:      Rahul Parmar                
Title:        Associate                

SIGNATURE PAGE
SECOND AMENDMENT TO 5-YEAR REVOLVING CREDIT AGREEMENT 

BRANCH BANKING & TRUST COMPANY, 
as a Lender

By:                               
Name:                          
Title:                            

SIGNATURE PAGE
SECOND AMENDMENT TO 5-YEAR REVOLVING CREDIT AGREEMENT 

CITIBANK, N.A., as a Lender

By:           /s/ Todd J. Mogil            
Name:      Todd J. Mogil                
Title:        Vice President                

SIGNATURE PAGE
SECOND AMENDMENT TO 5-YEAR REVOLVING CREDIT AGREEMENT 

COMERICA BANK, as a Lender

By:           /s/ Joey Powell                
Name:      Joey Powell                
Title:        Vice President                

SIGNATURE PAGE
SECOND AMENDMENT TO 5-YEAR REVOLVING CREDIT AGREEMENT 

GOLDMAN SACHS BANK USA, as a Lender

By:           /s/ Michelle Latzoni            
Name:      Michelle Latzoni            
Title:        Authorized Signatory            

SIGNATURE PAGE
SECOND AMENDMENT TO 5-YEAR REVOLVING CREDIT AGREEMENT 

SCOTIABANC INC., as a Lender

By:           /s/ J.F. Todd                
Name:      J.F. Todd                
Title:        Managing Director            

SIGNATURE PAGE
SECOND AMENDMENT TO 5-YEAR REVOLVING CREDIT AGREEMENT 

FROST BANK (formerly The Frost National Bank), as a Lender

By:           /s/ Sarah Cernosek            
Name:  Sarah Cernosek                
Title:        Vice President                

SIGNATURE PAGE
SECOND AMENDMENT TO 5-YEAR REVOLVING CREDIT AGREEMENT 

CHANG HWA COMMERCIAL BANK, LTD., 
NEW YORK BRANCH, as a Lender

By:                               
Name:                          
Title:                            

SIGNATURE PAGE
SECOND AMENDMENT TO 5-YEAR REVOLVING CREDIT AGREEMENT 

FIRST COMMERCIAL BANK NEW YORK BRANCH, 
as a Lender

By:                               
Name:                          
Title:                            

SIGNATURE PAGE
SECOND AMENDMENT TO 5-YEAR REVOLVING CREDIT AGREEMENT 

SIGNATURE PAGE
SECOND AMENDMENT TO 5-YEAR REVOLVING CREDIT AGREEMENT

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00213-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00213-of-00352.parquet"}]]