Document:

exv10w1

Exhibit 10.1

- EXECUTION COPY -

AMENDMENT NO. 3 TO CREDIT AGREEMENT

          This AMENDMENT NO. 3 TO CREDIT AGREEMENT, dated as of August 11, 2010 (this
“Amendment”), is entered into by and among ALON REFINING KROTZ SPRINGS, INC., a Delaware
corporation (the “Borrower”), the financial institutions party hereto from time to time as
lenders (the “Lenders”), and BANK HAPOALIM B.M., a bank organized under the laws of Israel,
acting through its New York branch, as administrative agent (in such capacity, the
“Administrative Agent”) and as collateral agent (in such capacity, the “Collateral
Agent”) for the Lenders.

W I  T  N E S S E T H

          WHEREAS, the Borrower, the Lenders, the Administrative Agent and the Collateral Agent are
parties to the Credit Agreement dated as of March 15, 2010 (as amended by Amendment No. 1 to Credit
Agreement dated as of May 28, 2010 and Amendment No. 2 to Credit Agreement dated as of June 15,
2010, the “Credit Agreement”) pursuant to which the Lenders provided a term loan facility
(the “Facility”) in the form of a single Borrowing on the Closing Date in an aggregate
principal amount of $65,000,000, of which $35,000,000 of principal and accrued interest thereon has
been prepaid to date;

          WHEREAS, the Borrower, the Lenders , the Administrative Agent and the Collateral Agent entered
into Amendment No. 2 to Credit Agreement dated as of June 15, 2010, extending the Maturity Date to
August 16, 2010;

          WHEREAS, the Borrower, the Lenders , the Administrative Agent and the Collateral Agent wish to
further amend the Credit Agreement to extend the Maturity Date to November 15, 2010;

          NOW, THEREFORE, in consideration of the foregoing and the mutual covenants herein contained,
and for other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereby agree as follows:

     1. Definitions. Any capitalized term used herein and not defined shall have the
meaning assigned to it in the Credit Agreement.

     2. Amendment to Credit Agreement.

          Amendment and Restatement of Existing Definitions. The following defined term in
Section 1.01 of the Credit Agreement is hereby amended and restated in its entirety to read as
follows:

     “‘Maturity Date’ shall mean November 15, 2010, provided,
however, that if such date falls on a day other than a Business Day, the
Maturity Date shall be extended to the next succeeding Business Day with
interest continuing to accrue at the rate in effect on the date falling
three months from the Closing Date.”

 

 

     3. Conditions to Effectiveness. The effectiveness of this Amendment is subject to the
fulfillment of the following conditions (the date such conditions are fulfilled is hereafter
referred to as the “Third Amendment Effective Date”):

          (a) The representations and warranties contained in this Amendment shall be true and correct
on and as of the Third Amendment Effective Date as though made on and as of such date, except to
the extent that such representations or warranties expressly relate solely to an earlier date (in
which case such representations or warranties shall be true and correct on and as of such date);
and no Default or Event of Default shall have occurred and be continuing on the Third Amendment
Effective Date or would result from this Amendment becoming effective in accordance with its terms.

          (b) The Administrative Agent shall have received on or before the Third Amendment Effective
Date a duly executed copy of this Amendment, and any other document reasonably requested by the
Administrative Agent.

          (c) An extension fee in the amount of $20,000 have been fully paid by Borrower on or before
the Third Amendment Effective Date.

          (d) All costs and expenses (including, without limitations, the Administrative Agent’s legal
fees) related to the negotiation, drafting and entering into this Amendment, have been fully paid
by Borrower on or before the Third Amendment Effective Date.

     4. Representations and Warranties. In addition to any and all representations and
warranties included in the Credit Agreement, which are hereby affirmed in all respects as of the
date hereof, to induce the other parties hereto to enter into this Amendment, the Borrower
represent and warrant to the Lenders, the Administrative Agent and the Collateral Agent that, as of
the Third Amendment Effective Date:

          (a) Organization; Powers. Each Obligor (a) is duly organized, validly existing and in good
standing under the laws of the jurisdiction of its organization, (b) has all requisite power and
authority to own its property and assets and to carry on its business as now conducted and as
proposed to be conducted, (c) is qualified to do business in, and is in good standing in, every
jurisdiction where such qualification is required, except where the failure so to qualify could not
reasonably be expected to result in a Material Adverse Effect, and (d) has the power and authority
to execute, deliver and perform its obligations under this Amendment and each other agreement or
instrument contemplated thereby to which it is or will be a party.

          (b) Authorization. The execution, delivery and performance by each Obligor of this Amendment
and the other transactions contemplated hereby (collectively, the “Transactions”) (a) have been
duly authorized by all requisite corporate and, if required, stockholder action of such Obligor and
(b) will not (i) violate (A) any provision of law, statute, rule or regulation, or of the
certificate or articles of incorporation or other constitutive documents or by-laws, of such
Obligor, (B) any order of any Governmental Authority or (C) any provision of any indenture,
agreement or other instrument in respect of Material Indebtedness or any other
material agreement to which such Obligor is a party or by which any of them or any of their
property is or may be bound, (ii) be in conflict with, result in a breach of or constitute (alone
or with notice or lapse of time or both) a default under, or give rise to any right to accelerate
or to

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require the prepayment, repurchase or redemption of any obligation under any such indenture,
agreement or other instrument in respect of Material Indebtedness or any other material agreement
or (iii) result in the creation or imposition of any Lien upon or with respect to any property or
assets now owned or hereafter acquired by the Borrower or any of its subsidiaries (other than any
Lien created hereunder or under the Security Documents).

          (c) Enforceability. This Amendment has been duly executed and delivered by the Borrower and
constitutes, a legal, valid and binding obligation of the Borrower enforceable against the Borrower
in accordance with its terms (subject to applicable bankruptcy, reorganization, insolvency,
moratorium or similar laws affecting creditors’ rights generally and subject, as to enforceability,
to equitable principles of general application (regardless of whether enforcement is sought in a
proceeding in equity or at law)).

     5. Reservation of Rights. No action or acquiescence by the Administrative Agent, the
Collateral Agent and the Lenders, including, without limitation, this Amendment of, or the
acceptance of any payments under, the Credit Agreement, shall constitute a waiver of any Default or
Event of Default which may exist as of the Third Amendment Effective Date. Accordingly, the
Administrative Agent, the Collateral Agent and the Lenders reserve all of their rights under the
Credit Agreement at law and otherwise regarding any such Default or Event of Default.

     6. Continued Effectiveness of Loan Documents. Each of the parties hereto hereby
confirms and agrees that each Loan Document to which it is a party is, and shall continue to be, in
full force and effect and is hereby ratified and confirmed in all respects except that on and after
the Third Amendment Effective Date all references in any such Loan Document to “the Credit
Agreement”, “thereto”, “thereof”, “thereunder” or words of like import referring to the Credit
Agreement shall mean the Credit Agreement as amended by this Amendment.

     7. Miscellaneous.

          (a) This Amendment may be executed in any number of counterparts and by different parties
hereto in separate counterparts, each of which shall be deemed to be an original, but all of which
taken together shall constitute one and the same agreement. Delivery of a counterpart hereby by
facsimile or electronic transmission shall be equally effective as delivery of a manually executed
counterpart hereof.

          (b) Section and paragraph headings herein are included for convenience of reference only and
shall not constitute a part of this Amendment for any other purpose.

          (c) THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE
STATE OF NEW YORK.

          (d) THE BORROWER, THE ADMINISTRATIVE AGENT, THE COLLATERAL AGENT AND THE LENDERS EACH HEREBY
IRREVOCABLY WAIVE
ANY RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF OR
RELATING TO THIS AMENDMENT.

[REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK]

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     IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their
respective officers as of the day and year first written above.

	 	 	 	 	 
	 	ALON REFINING KROTZ SPRINGS, INC.

 	 
	 	By:  	/s/ Shai Even
 	 
	 	 	Name:  	Shai Even 	 
	 	 	Title:  	Senior Vice President and Chief Financial Officer 	 
	 
	 	BANK HAPOALIM B.M., New York Branch, individually and as
Administrative Agent and Collateral Agent

 	 
	 	By:  	/s/ Lee Stenner
 	 
	 	 	Name:  	Lee Stenner 	 
	 	 	Title:  	Senior Vice President 	 
	 
	 	 	 
	 	By:  	                                      /s/ Maxine Levy
 	 
	 	 	Name:  	Maxine Levy 	 
	 	 	Title:  	First Vice Presidentexv10w7

    Exhibit 10.7

 

    Western
    Digital Corporation

    Summary of Compensation Arrangements

    for

    Named Executive Officers and Directors

 

    NAMED EXECUTIVE
    OFFICERS

 

    Base Salaries.  The annual base salaries as of
    the year ended July 2, 2010 for the current executive
    officers of Western Digital Corporation (the
    “Company”) who will be named in the Summary
    Compensation Table in the Company’s Proxy Statement that
    will be filed with the Securities and Exchange Commission in
    connection with the Company’s 2010 Annual Meeting of
    Stockholders (the “Named Executive Officers”) are as
    follows:

 

	 	 	 	 	 	 	 
	
 
	
 
	
 
	
 
	
    Current

    
	
 

	
    Named Executive Officer
	
 
	
    Title
	
 
	
    Base Salary
	
 

	

    John F. Coyne

	
 
	
    President and Chief Executive Officer
	
 
	
    $
	
    900,000
	
 

	

    Timothy M. Leyden

	
 
	
    Executive Vice President and Chief Financial Officer
	
 
	
    $
	
    550,000
	
 

	

    Martin W. Finkbeiner

	
 
	
    Executive Vice President, Operations
	
 
	
    $
	
    450,000
	
 

	

    Raymond M. Bukaty

	
 
	
    Senior Vice President, Administration, General Counsel and
    Secretary
	
 
	
    $
	
    410,000
	
 

 

    Semi-Annual Bonuses.  Under the Company’s
    Incentive Compensation Plan (the “ICP”), the Named
    Executive Officers are also eligible to receive semi-annual cash
    bonus awards that are determined based on the Company’s
    achievement of performance goals pre-established by the
    Compensation Committee (the “Committee”) of the
    Company’s Board of Directors as well as other discretionary
    factors. The ICP, including the performance goals established by
    the Committee for the second half of fiscal 2010, are further
    described in the Company’s current report on
    form 8-K
    filed with the Securities and Exchange Commission on
    February 5, 2010, which is incorporated herein by reference.

 

    Additional Compensation.  The Named Executive
    Officers are also eligible to receive equity-based incentives
    and discretionary bonuses as determined from time to time by the
    Committee, are entitled to participate in various Company plans,
    and are subject to other written agreements, in each case as set
    forth in exhibits to the Company’s filings with the
    Securities and Exchange Commission. In addition, the Named
    Executive Officers may be eligible to receive perquisites and
    other personal benefits as disclosed in the Company’s Proxy
    Statement that will be filed with the Securities and Exchange
    Commission in connection with the Company’s 2010 Annual
    Meeting of Stockholders.

 

    DIRECTORS

 

    Annual Retainer and Committee Retainer
    Fees.  The following table sets forth the current
    annual retainer and committee membership fees payable to each of
    the Company’s non-employee directors:

 

	 	 	 	 	 
	
 
	
 
	
    Current Annual

    
	
 

	
    Type of Fee
	
 
	
    Retainer Fees
	
 

	 

	

    Annual Retainer

	
 
	
    $
	
    75,000
	
 

	

    Lead Independent Director Retainer

	
 
	
    $
	
    20,000
	
 

	

    Non-Executive Chairman of Board Retainer

	
 
	
    $
	
    100,000
	
 

	

    Additional Committee Retainers

	
 
	
 
	
 
	
 

	

    •   Audit Committee

	
 
	
    $
	
    10,000
	
 

	

    •   Compensation Committee

	
 
	
    $
	
    5,000
	
 

	

    •   Governance Committee

	
 
	
    $
	
    2,500
	
 

	

    Additional Committee Chairman Retainers

	
 
	
 
	
 
	
 

	

    •   Audit Committee

	
 
	
    $
	
    15,000
	
 

	

    •   Compensation Committee

	
 
	
    $
	
    10,000
	
 

	

    •   Governance Committee

	
 
	
    $
	
    7,500
	
 

 

    The retainer fee to the Company’s lead independent director
    referred to above is paid only if the Chairman of the Board is
    an employee of the Company. The annual retainer fees are
    generally paid on January 1 of each year. However,

 

    effective commencing with the Company’s 2010 Annual Meeting
    of Stockholders, the annual retainer fees will be paid
    immediately following the Annual Meeting of Stockholders.

 

    Non-employee directors do not receive a separate fee for each
    Board of Directors or committee meeting they attend. However,
    the Company reimburses all non-employee directors for reasonable
    out-of-pocket
    expenses incurred to attend each Board of Directors or committee
    meeting. Mr. Coyne, who is an employee of the Company, does
    not receive any compensation for his service on the Board or any
    Board committee.

 

    Additional Director Compensation.  The
    Company’s non-employee directors are also entitled to
    participate in the following other Company plans as set forth in
    exhibits to the Company’s filings with the Securities and
    Exchange Commission: Non-Employee Director Option Grant Program
    and Non-Employee Director Restricted Stock Unit Grant Program,
    each as adopted under the Company’s Amended and Restated
    2004 Performance Incentive Plan; Amended and Restated
    Non-Employee Directors
    Stock-for-Fees
    Plan; and Deferred Compensation Plan.

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