Document:

ex10_1.htm

    
      

    

    
      Exhibit
10.1

      

      EXTENSION TO EMPLOYMENT
AGREEMENT

      

      This
Extension to Employment Agreement (this “Extension”) is made as of April 1, 2008
between PETROSEARCH ENERGY
CORPORATION, a Nevada corporation (“Company”) and WAYNE BENINGER
(“Employee”).

      

      RECITALS:

      

      
        	
                 
      

              	
                A.

              	
                Company
      and Employee entered into a certain Employment Agreement dated May 1,
      2007, providing for a one (1) year
term.

              

      

      

      
        	
                 
      

              	
                B.

              	
                Company
      and Employee mutually desire to extend the term of employment for an
      additional one (1) year term.

              

      

      

      TERMS
OF AMENDMENT:

      

      NOW,
THEREFORE, FOR VALUE RECEIVED, Company and Employee agree as
follows:

      

      
        	
                 
      

              	
                1.

              	
                Ratification of
      Agreement.  Except as modified hereby, Company and
      Employee hereby ratify and confirm the Employment Agreement and its
      provisions, including any amendments
thereto.

              

      

      

      
        	
                 
      

              	
                2.

              	
                Extension of
      Term.  Paragraph 1 of the Employment Agreement hereby
      extends the Term from one (1) year to two (2) years, such that the
      expiration of the Term shall be April 30,
2009.

              

      

      

      
        	
                 
      

              	
                3.

              	
                Binding Upon
      Successors and Assigns.  This Extension shall inure to
      and be binding upon the undersigned and their respective heirs,
      representatives, successors and
assigns.

              

      

      

      EXECUTED
as of the date set forth first above.

      

      
        	 
      	
                PETROSEARCH
      ENERGY CORPORATION

              
	 
      	 
      	 
	 
      	 
      	 
	 
      	
                By:
      /s/ Richard D. Dole

              	 
	 
      	
                Richard
      D. Dole, President and CEO

              	 
	 
      	 
      	 
	 
      	 
      	 
	 
      	
                /s/
      Wayne Beninger

              	 
	 
      	
                WAYNE
      BENINGERex10_2.htm

    
      

    

    
      Exhibit
10.2

      

      EXTENSION TO EMPLOYMENT
AGREEMENT

      

      This
Extension to Employment Agreement (this “Extension”) is made as of April 1, 2008
between PETROSEARCH ENERGY
CORPORATION, a Nevada corporation (“Company”) and DAVID COLLINS
(“Employee”).

      

      RECITALS:

      

      
        	
                 
      

              	
                A.

              	
                Company
      and Employee entered into a certain Employment Agreement dated May 1,
      2007, providing for a one (1) year
term.

              

      

      

      
        	
                 
      

              	
                B.

              	
                Company
      and Employee mutually desire to extend the term of employment for an
      additional one (1) year term.

              

      

      

      TERMS
OF AMENDMENT:

      

      NOW,
THEREFORE, FOR VALUE RECEIVED, Company and Employee agree as
follows:

      

      
        	
                 
      

              	
                1.

              	
                Ratification of
      Agreement.  Except as modified hereby, Company and
      Employee hereby ratify and confirm the Employment Agreement and its
      provisions, including any amendments
thereto.

              

      

      

      
        	
                 
      

              	
                2.

              	
                Extension of
      Term.  Paragraph 1 of the Employment Agreement hereby
      extends the Term from one (1) year to two (2) years, such that the
      expiration of the Term shall be April 30,
2009.

              

      

      

      
        	
                 
      

              	
                3.

              	
                Binding Upon
      Successors and Assigns.  This Extension shall inure to
      and be binding upon the undersigned and their respective heirs,
      representatives, successors and
assigns.

              

      

      

      EXECUTED
as of the date set forth first above.

      

      
        	 
      	
                PETROSEARCH
      ENERGY CORPORATION

              	 
	 
      	 
      	 
	 
      	 
      	 
	 
      	
                By:
      /s/ Richard D. Dole

              	 
	 
      	
                Richard
      D. Dole, President and CEO

              	 
	 
      	 
      	 
	 
      	 
      	 
	 
      	
                By:
      /s/ David J Collins

              	 
	 
      	
                DAVID
      J. COLLINSUnassociated Document

    
      EXHIBIT
        10.1

       

    

    FOURTH
      AMENDMENT TO SECOND AMENDED

    AND
      RESTATED FINANCING AGREEMENT

     

    THIS
      FOURTH AMENDMENT TO SECOND AMENDED AND RESTATED FINANCING
      AGREEMENT
      (“this
      Agreement”)
      entered into on this 28th day of March, 2008, to be effective, unless another
      effective date is otherwise herein specified, as of March 7, 2008, is by
      and among The CIT Group/Business Credit, Inc. (“CIT”),
      SunTrust Bank (“SunTrust”),
      Wachovia Bank, N.A. (“Wachovia”)
      and
      PNC Bank National Association (“PNC”)
      (CIT,
      SunTrust, Wachovia and PNC being herein collectively referred to as the
“Lenders”),
      CIT
      as administrative and collateral agent (“Agent”),
      United Fuel & Energy Corporation, a Texas corporation (“United”),
      Three
      D Oil Co. of Kilgore, Inc., a Texas corporation (“Three
      D”)
      and
      Cardlock Fuels Systems, Inc. a California corporation (“Cardlock”)
      (United, Three D and Cardlock being herein individually referred to as a
“Company”
and
      collectively referred to as the “Companies”),
      and
      United Fuel & Energy Corporation, a Nevada corporation (“Parent”).

     

    RECITALS

     

    A. Companies,
      Agent and Lenders are the present parties to that certain Second Amended and
      Restated Financing Agreement, dated as of March 27, 2007, originally
      executed by United, Three D, Lenders and Agent, as amended from time to
      time, including, without limitation, as amended by that certain Forbearance
      Agreement and Third Amendment to Second Amended and Restated Financing
      Agreement, dated December 28, 2007, executed by Companies, Agent, and
      Parent (the “Forbearance
      Agreement”)
      (as
      amended from time to time, the “Financing
      Agreement”).

     

    B. Pursuant
      to the terms and conditions of this Agreement, each of Companies, Agent and
      Lenders are willing to amend the Financing Agreement, and certain of the other
      Loan Documents.

     

    NOW,
      THEREFORE,
      in
      consideration of the premises herein contained and other good and valuable
      consideration, the receipt and sufficiency of which are hereby acknowledged,
      the
      parties, intending to be legally bound, agree as follows, as hereinafter set
      forth:

     

    ARTICLE
      I

    Definitions

     

    1.01 Capitalized
      terms used in this Agreement are defined in the Financing Agreement, as amended
      hereby, unless otherwise stated.

     

    ARTICLE
      II

    Agreements

     

    2.01 Amendment
      to Section 1 of Financing Agreement; Amendment and Restatement of
      Definition of “Acquisition Term Loan Line of Credit”.
      Section 1
      of the
Financing
      Agreement is hereby amended by amending and restating the definition of
“Acquisition Term Loan Line of Credit” to read in its entirety as
      follows:

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

     

    “Acquisition
      Term Loan Line of Credit
      shall
      mean the aggregate commitment of the Lenders to make after the Closing Date
      Acquisition Term Loan to Companies in an aggregate principal amount of up to
      $4,193,513.50 pursuant to Paragraph 4.3
      of
Section 4
      of this
      Financing Agreement. The parties hereto agree that as of the date of execution
      of the Fourth Amendment, $2,990,425.00 in Acquisition Term Loans have been
      made
      and that $1,203,088.50 is the remaining amount of Acquisition Term Loans
      available in connection with the Acquisition Term Loan Line of
      Credit.”

     

    2.02 Amendment
      to Section 1 of Financing Agreement; Amendment to Definition of “Adjustment
      Date”.
      The
      definition of “Adjustment Date” is amended and restated to read in its entirety
      as follows:

     

    “Adjustment
      Date
      shall
      mean (a) initially, the Initial Adjustment Date, and (b) thereafter,
      the first day of each thereafter occurring May, August, November and
      February; provided,
      however,
      that if
      the financial statements of Companies to be delivered to Agent pursuant to
      Paragraph
      7.8(c)
      of
Section 7
      hereof
      for the month ending as of the last day of the Fiscal Quarter immediately
      preceding such first day of such calendar month (for example, as to May 1,
      2009, the financial statements to be delivered pursuant to Paragraph 7.8(c)
      of
Section 7
      hereof
      for the month ending March 31, 2009) have not been delivered by the due
      date for such financial statements, such ‘Adjustment Date’ shall instead be the
      tenth day after delivery to Agent of such financial statements.”

     

    2.03 Amendment
      to Section 1 of Financing Agreement; Amendment to Definition of “Applicable
      Base Rate Margin”.
      The
      definition of “Applicable Base Rate Margin” is amended and restated to read in
      its entirety as follows:

     

    “Applicable
      Base Rate Margin
      means,
      with respect to any amount outstanding under the Revolving Loans or the Term
      Loans, as the case may be, which are Base Rate Loans, the rate of interest
      per
      annum determined as set forth below:

     

    (a) as
      to
      the amount of Revolving Loans outstanding on any day:

     

    (i) during
      the period beginning March 7, 2008 and continuing until the Initial
      Adjustment Date - 0.75%; and

     

    (ii) thereafter,
      on each Adjustment Date (beginning on the Initial Adjustment Date) and
      continuing until the next Adjustment Date, the applicable percent per annum
      set
      forth in the pricing table below opposite the relevant Fixed Charge Coverage
      Ratio calculated as of the last
      day
      of the relevant Fiscal Quarter for the four Fiscal Quarter period ending on
      such
      day:

    

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

     

    
      	 	
              APPLICABLE
                BASE RATE

              MARGIN
                PRICING TABLE

            
	 	
              Fixed
                Charge

              Coverage
                Ratio

            	
              Applicable
                Base

              Rate
                Margin

            
	 	 	 
	(A)	
              Greater
                than or equal to 2.00 to 1.00

            	
              (A) 
0.00%

            
	 	 	 
	(B)	
              Less
                than 2.00 to 1.00, but equal to or greater than 1.50 to
                1.00

            	
              (B) 
0.25%

            
	 	 	 
	(C)	
              Less
                than 1.50 to 1.00

            	
              (C) 
0.50%

            

    

    

    All
      adjustments to the Applicable Base Rate Margin shall be implemented by the
      Agent
      based on the financial statements and related officer’s certificate for the
      relevant period delivered by the Companies to the Agent pursuant to Paragraph
      7.8(c)
      of
Section 7
      hereof,
      and shall take effect retroactively on the Adjustment Date immediately
      succeeding the date of the Agent’s receipt of such financial statements.
      Notwithstanding the foregoing: (a) no reduction in Applicable Base Rate
      Margin shall occur on an Adjustment Date if a Default or an Event of Default
      shall have occurred and be continuing on such Adjustment Date or the date of
      the
      Agent’s receipt of the financial statements on which such reduction is to be
      based; and (b) if the Companies fail to deliver the financial statements on
      which any reduction in applicable margins is to be based within ten (10) days
      of
      the due date for such items set forth in Paragraph
      7.8(c)
      of
Section 7,
      then
      effective as of the due date for such financial statements, the Applicable
      Base
      Rate Margin shall increase to the highest margin set forth in the table above
      until the following Adjustment Date. Without limitation of any other provision
      of this Financing Agreement or any other remedy available to Agent or Lenders
      under any of the Loan Documents, if, as a result of any restatement of or other
      adjustment to the financial statements delivered by the Companies to the Agent
      pursuant to Paragraph
      7.8(c)
      of
Section 7
      hereof
      or for any other reason, the Agent determines that (y) the Fixed Charge
      Coverage Ratio as calculated by the Companies as of any applicable date was
      inaccurate by more than 0.04 (for example, the Fixed Charge Coverage Ratio
      is
      initially reported as 1.50 to 1.00, but as corrected is 1.459 to 1.00) (a
‘Material
      Adjustment’)
      and
      (z) a proper calculation of the Fixed Charge Coverage Ratio would have
      resulted in a different Applicable Base Rate Margin for any period, then in
      the
      event of a Material Adjustment (but not if a Material Adjustment has not
      occurred) (i) if the proper calculation of the Fixed Charge Coverage Ratio
      would have resulted in a higher Applicable Base Rate Margin for such period,
      the
      Companies shall automatically and retroactively be obligated to pay to the
      Agent
      promptly on demand by the Agent, an amount equal to the excess of the amount
      of
      interest and fees that should have been paid for such period over the amount
      of
      interest and fees actually paid for such period; and (ii) if the proper
      calculation of the Fixed Charge Coverage Ratio would have resulted in a lower
      Applicable Base Rate Margin for such period, the Agent shall have no obligation
      to repay any interest or fees to the Companies; provided that if, as a result
      of
      any Material Adjustment a proper calculation of the Fixed Charge Coverage Ratio
      would have resulted in a higher Applicable Base Rate Margin for one or more
      periods and a lower Applicable Base Rate Margin for one or more other periods
      (due to the shifting of income or expenses from one period to another period
      or
      any similar reason), then the amount payable by the Companies pursuant to clause
      (i) above shall be based upon the excess, if any, of the amount of interest
      and
      fees that should have been paid for all applicable periods over the amount
      of
      interest and fees paid for all such periods.

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    (b) as
      to
      the amount of Term Loans outstanding on any day:

     

    (i) March 7,
      2008, until the Initial Adjustment Date - 1.00%; and

     

    (ii) thereafter,
      0.75%.”

     

    2.04 Amendment
      to Section 1 of Financing Agreement; Amendment to Definition of “Applicable
      LIBOR Margin”.
      The
      definition of “Applicable LIBOR Margin” contained in Section 1
      of the
      Financing Agreement is amended and restated to read in its entirety as
      follows:

     

    “Applicable
      LIBOR Margin
      means,
      on any specific date, with respect to any amount outstanding under the Revolving
      Loans or Term Loans, as the case may be, which are LIBOR Loans, the rate of
      interest per annum determined as set forth below:

     

    (a) as
      to
      the amount of Revolver Loans outstanding on any day:

     

    (i) (A) during
      the period beginning on March 7, 2008, until the Initial Adjustment Date -
      3.00%; and

     

    (ii) thereafter,
      on each Adjustment Date (beginning on the Initial Adjustment Date) and
      continuing until the next Adjustment Date, the applicable percent per annum
      set
      forth in the pricing table below opposite the relevant Fixed Charge Coverage
      Ratio calculated as of the last day of the relevant Fiscal Quarter for the
      four
      Fiscal Quarter period ending on such day:

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    
      	 	
              APPLICABLE
                LIBOR MARGIN

              PRICING
                TABLE

            
	 	
              Fixed
                Charge Coverage Ratio

            	
              Applicable
                LIBOR Margin

            
	 	 	 
	(A)	
              Greater
                than or equal to 2.00 to 1.00

            	
              (A) 
2.00%

            
	 	 	 
	(B)	
              Less
                than 2.00 to 1.00, but equal to or greater than 1.50 to
                1.00

            	
              (B) 
2.25%

            
	 	 	 
	(C)	
              Less
                than 1.50 to 1.00, but equal to or greater than 1.25 to
                1.00

            	
              (C) 
2.50%

            
	 	 	 
	(D)	
              Less
                than 1.25 to 1.00

            	
              (D) 
2.75%

            

    

    

    All
      adjustments to the Applicable LIBOR Margin shall be implemented by the Agent
      based on the financial statements and related officer’s certificate for the
      relevant period delivered by the Companies to the Agent pursuant to Paragraph
      7.8(c)
      of
Section 7
      hereof,
      and shall take effect on the Adjustment Date immediately succeeding the date
      of
      the Agent’s receipt of such financial statements. Notwithstanding the foregoing:
      (a) no reduction in Applicable Margins shall occur on an Adjustment Date if
      a Default or an Event of Default shall have occurred and be continuing on such
      Adjustment Date or the date of the Agent’s receipt of the financial statements
      on which such reduction is to be based; and (b) if the Companies fail to
      deliver the financial statements on which any reduction in applicable margins
      is
      to be based within ten (10) days of the due date for such items set forth in
      Paragraph
      7.8(c)
      of
Section 7,
      then
      effective as of the due date for such financial statements, the Applicable
      LIBOR
      Margin shall increase to the highest margin set forth in the table above until
      the following Adjustment Date. Without limitation of any other provision of
      this
      Financing Agreement or any other remedy available to Agent or Lenders under
      any
      of the Loan Documents, if, as a result of any restatement of or other adjustment
      to the financial statements delivered by the Companies to the Agent pursuant
      to
Paragraph
      7.8(c)
      of
Section 7
      hereof
      or for any other reason, the Agent determines that (y) the Fixed Charge
      Coverage Ratio as calculated by the Companies as of any applicable date was
      inaccurate and such inaccuracy constitutes a Material Adjustment and (z) a
      proper calculation of the Fixed Charge Coverage Ratio would have resulted in
      a
      different Applicable LIBOR Margin for any period, then in the event of a
      Material Adjustment (but not if a Material Adjustment has not occurred)
      (i) if the proper calculation of the Fixed Charge Coverage Ratio would have
      resulted in a higher Applicable LIBOR Margin for such period, the Companies
      shall automatically and retroactively be obligated to pay to the Agent promptly
      on demand by the Agent, an amount equal to the excess of the amount of interest
      and fees that should have been paid for such period over the amount of interest
      and fees actually paid for such period; and (ii) if the proper calculation
      of the Fixed Charge Coverage Ratio would have resulted in a lower Applicable
      LIBOR Margin for such period, the Agent shall have no obligation to repay any
      interest or fees to the Companies; provided that if, as a result of any Material
      Adjustment a proper calculation of the Fixed Charge Coverage Ratio would have
      resulted in a higher Applicable LIBOR Margin for one or more periods and a
      lower
      Applicable LIBOR Margin for one or more other periods (due to the shifting
      of
      income or expenses from one period to another period or any similar reason),
      then the amount payable by the Companies pursuant to clause (i) above shall
      be
      based upon the excess, if any, of the amount of interest and fees that should
      have been paid for all applicable periods over the amount of interest and fees
      paid for all such periods.

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

    (b) as
      to
      the amount of Term Loans outstanding on any day:

     

    (i) March 7,
      2008, until the Initial Adjustment Date - 3.50%; and

     

    (ii) thereafter,
      3.25%.”

     

    2.05 Amendment
      to Section 1 of Financing Agreement; Amendment and Restatement of
      Definition of “Borrowing Base”.
      Section 1
      of the
      Financing Agreement is hereby amended by amending and restating the definition
      of “Borrowing Base” to read in its entirety as follows:

     

    “Borrowing
      Base
      shall
      mean as to Companies, the amount calculated as follows:

     

    (a) as
      long as the Revolving Line of Credit is $80,000,000 or less, the lesser
      of
      (i) the Revolving Line of Credit or (ii) the
      amount calculated as follows:
      (A)
      eighty-five percent (85%) of Companies’ aggregate outstanding Eligible Accounts
      Receivable and Companies’ aggregate outstanding Eligible Unbilled Card-Lock
      Customer Accounts; provided,
      however,
      that if
      the then Dilution Percentage is greater than five percent (5.0%), then the
      rate
      of advance herein shall be reduced by the percentage points by which the
      Dilution Percentage exceeds five percent (5.0%), plus
      (B)
the
      sum of
      (x)
      sixty-five percent (65%) of the aggregate value of Companies’ Eligible
      Inventory, valued at the lower of cost or market, on an average cost basis,
      plus
      (y)
      sixty-five percent (65%) of the aggregate value of Companies’ Eligible Card-Lock
      Inventory, valued at the lower of cost or market, on an average cost basis,
      plus
      (C) the
      Eligible Equipment Based Amount, plus
      (D) one
      hundred percent (100%) of the aggregate Eligible Cash Surrender Value of
      Eligible Life Insurance Policy, plus
      (E) the
      lesser of
      (x) one
      hundred percent (100%) of the Dollar balance of the Eligible Cash Collateral
      or
      (y) $10,000,000, minus
      (F) the Availability Block, minus
      (G) any
      applicable Availability Reserves; or

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

    (b) as
      long as the Revolving Line of Credit is greater than $80,000,000, (i) the
      lesser of
      (A) the Revolving Line of Credit or (B) the
      amount calculated as follows:
      (u)
      eighty-five percent (85%) of Companies’ aggregate outstanding Eligible Accounts
      Receivable and Companies’ aggregate outstanding Eligible Unbilled Card-Lock
      Customer Accounts; provided,
      however,
      that if
      the then Dilution Percentage is greater than five percent (5.0%), then the
      rate
      of advance herein shall be reduced by the percentage points by which the
      Dilution Percentage exceeds five percent (5.0%), plus
      (v)
the
      sum of
      (I)
      sixty-five percent (65%) of the aggregate value of Companies’ Eligible
      Inventory, valued at the lower of cost or market, on an average cost basis,
      plus
      (II)
      sixty-five percent (65%) of the aggregate value of Companies’ Eligible Card-Lock
      Inventory, valued at the lower of cost or market, on an average cost basis,
      plus
      (w) the
      Eligible Equipment Based Amount, plus
      (x) one
      hundred percent (100%) of the aggregate Eligible Cash Surrender Value of
      Eligible Life Insurance Policy, plus
      (y) the
      lesser of
      (I) one
      hundred percent (100%) of the Dollar balance of the Eligible Cash Collateral
      or
      (II) $10,000,000, minus
      (z) the Availability Block, minus
      (ii) any applicable Availability Reserves.”

     

    2.06 Amendment
      to Section 1 of Financing Agreement; Amendment and Restatement of
      Definition of “Commitment”. Section 1
      of the
      Financing Agreement is hereby amended by amending and restating the definition
      of “Commitment” to read in its entirety as follows:

     

    “Commitment
      shall
      mean, as to any Lender, the amount of the commitment for such Lender set forth
      on the signature page to the Fourth Amendment or in the Assignment and Transfer
      Agreement to which such Lender is a party, as such amount may be reduced or
      increased in accordance with the provisions of Paragraph
      13.4(b)
      of
Section
      13
      or any
      other applicable provision of this Financing Agreement.”

     

    2.07 Amendment
      to Section 1 of Financing Agreement; Addition of New
      Definitions”. Section 1
      of the
      Financing Agreement is hereby amended by adding thereto the following new
      definitions to be inserted in their proper alphabetical order and to read in
      its
      entirety as follows:

     

    “Availability
      Block
      shall
      mean the amount indicated below, during the time period indicated
      below:

     

    
      	 	
              Period

            	 	
              Amount

            	 
	 	 	 	 	 
	(i)	
              March 7,
                2008 until First Availability Block Adjustment Date

            	 	(i)	
              $7,500,000

            	 
	 	
               

            	 	 	 	 
	(ii)	
              First
                Availability Block Adjustment Date until Second Availability Block
                Adjustment Date

            	 	(ii)	
               5,000,000

            	 
	 	
               

            	 	 	 	 
	(iii)	
              Second
                Availability Block Adjustment Date until Third Availability Block
                Adjustment Date

            	 	(iii)	
              $2,500,000

            	 
	 	 	 	 	 	 
	(iv)	
              Third
                Availability Block Adjustment Date and thereafter

            	 	(iv)	
               $0.00

            	 

    

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

    First
      Availability Block Adjustment Date
      shall
      mean the tenth day after delivery to Agent pursuant to Paragraph 7.8(c)
      of
Section 7
      hereof
      of the financial statements of the Companies for any month ending on or after
      May 31, 2008, if such financial statements demonstrate to the sole
      satisfaction of Agent that Companies’ Fixed Charge Coverage Ratio for the four
      calendar month period ending on such day is greater than 1:00 to
      1:00.

     

    Fourth
      Amendment
      shall
      mean that certain Fourth Amendment to Second Amended and Restated Financing
      Agreement executed by Agent, Lenders, Companies and Parent.

     

    Second
      Availability Block Adjustment Date
      shall
      mean the tenth day after delivery to Agent pursuant to Paragraph 7.8(c)
      of
Section 7
      hereof
      of the financial statements of the Companies for any month ending after the
      First Availability Block Adjustment Date if such financial statements
      demonstrate to the sole satisfaction of Agent that Companies’ Fixed Charge
      Coverage Ratio for the eight calendar month period ending on such date is
      greater than 1.00 to 1.00.

     

    Third
      Availability Block Adjustment Date
      shall
      mean the tenth day after delivery to Agent pursuant to Paragraph 7.8(c)
      of
Section 7
      hereof
      of the financial statements of the Companies for any month ending after the
      Second Availability Block Adjustment Date if such financial statements
      demonstrate to the sole satisfaction of Agent that Companies’ Fixed Charge
      Coverage Ratio for the twelve calendar month period ending on such day is
      greater than 1.00 to 1.00.”

     

    2.08 Amendment
      to Section 1 of the Financing Agreement; Amendment and Restatement of
      Definition of “Initial Adjustment Date”.
      The
      definition of “Initial Adjustment Date” contained in Section 1
      of the
      Financing Agreement is hereby amended and restated to read in its entirety
      as
      follows:

     

    “Initial
      Adjustment Date
      shall
      mean the tenth day after delivery for the first time to Agent pursuant to
Paragraph
      7.8(c)
      of
Section 7
      hereof
      of the financial statements of the Companies for any month ending on or after
      September 30, 2008, if such financial statements demonstrate to the sole
      satisfaction of Agent that Companies’ Fixed Charge Coverage Ratio for the six
      calendar month period ending on such day is greater than 1.00 to
      1.00.”

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

    2.09 Amendment
      to Section 1 of Financing Agreement; Amendment and Restatement of
      Definition of “Line of Credit”. Section 1
      of the
      Financing Agreement is hereby amended by amending and restating the definition
      of “Line of Credit” to read in its entirety as follows:

     

    “Line
      of Credit
      shall
      mean the aggregate commitment of the Lenders in an amount equal to $89,000,000
      to (a) make Revolving Loans pursuant to Section 3
      of this
      Financing Agreement, (ii) assist Companies in opening Letters of Credit
      pursuant to Section 5
      of this
      Financing Agreement and (iii) make the Term Loans pursuant to Section 4
      of this
      Financing Agreement.”

     

    2.10 Amendment
      to Section 1 of Financing Agreement; Amendment and Restatement of
      Definition of “Revolving Line of Credit”. Section 1
      of the
      Financing Agreement is hereby amended by amending and restating the definition
      of “Revolving Line of Credit” to read in its entirely as follows:

     

    “Revolving
      Line of Credit
      shall
      mean the aggregate commitment of the Lenders to make loans and advances pursuant
      to Section 3
      and
      issue Letters of Credit Guaranties to the Companies in the aggregate amount
      of
      $80,000,000.”

     

    2.11 Amendment
      to Section 1 of Financing Agreement; Deletion of Definitions of
“Forbearance Default”, “Forbearance Period” and “Temporary Line Increase
      Period”. Section 1
      of the
      Financing Agreement is hereby amended by deleting therefrom the definitions
      of
“Forbearance Default”, “Forbearance Period” and “Temporary Line Increase
      Period”.

     

    2.12 Amendment
      to Section 3.1 of the Financing Agreement; Addition of a New Paragraph
      (c). Section
      3.1
      of the
      Financing Agreement is hereby amended by adding thereto a new Paragraph
      (c),
      to read
      in its entirety as follows:

     

    “(c) Increases
      in Revolving Line of Credit.
      Companies shall have the right from time to time following the date of execution
      of the Fourth Amendment upon not less than fifteen (15) Business Days’ prior
      written notice to Agent to request an increase in the then Revolving Line of
      Credit (with a corresponding increase in the Line of Credit) in incremental
      amounts equal to $5,000,000 from existing Lenders and/or new lenders acceptable
      to Agent; provided that (i) no Default or Event of Default shall have
      occurred and be continuing at the time such request is made or at the time
      such
      increase is to become effective, (ii) Agent shall be in possession of a
      field exam in form and substance and of a date acceptable to Agent and Required
      Lenders, (iii) the aggregate commitments of Lenders (including any new
      lenders) as to the Revolving Line of Credit shall in no event exceed
      $125,000,000, (iv) Companies shall have paid to Lenders that agree to
      increase their commitment as to the Revolving Line of Credit or such new lenders
      a fee in an amount to be mutually agreed on by Companies and such Lenders or
      new
      lenders with respect to the amount of the requested increase, (v) Companies
      shall have delivered to Agent an amendment to this Agreement reflecting the
      requested increase, (vi) Companies shall have duly executed and delivered
      to Lenders that agree to increase their commitment as to the Revolving Line
      of
      Credit Promissory Notes or such new lenders, if requested by such Lenders or
      such new lenders, in the amount of the requested increase, (vii) if
      requested by Agent, Companies shall have delivered to Agent, such opinions
      and
      authority documentation as Agent may require, with respect to the due
      authorization, execution and delivery and enforceability of such amendment
      to
      this Financing Agreement and such additional Promissory Notes, and
      (viii) the interest rate with respect to all Revolving Loans shall be the
      same. Each Company acknowledges and agrees that no Lender shall be under any
      obligation to increase its commitment as to the Revolving Line of Credit
      hereunder.”

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

    2.13 Amendment
      and Restatement of Section 7.10 of the Financing
      Agreement. Section
      7.10
      of the
      Financing Agreement is hereby amended and restated to read in its entirety
      as
      follows:

     

    “7.10 Until
      termination of the Financing Agreement and payment and satisfaction in full
      of
      all Obligations hereunder, the Companies, on a consolidated basis,
      shall:

     

    (a) Maintain
      as of the last day of each calendar month indicated below for the number of
      calendar months indicated below, a Fixed Charge Coverage Ratio for such period
      of not less than the ratio indicated below:

     

    
      	
              (i)

            	
              Four
                calendar month period ending August 31, 2008

            	 	
              (i)

            	
              0.85
                to 1.00

            
	 	 	 	 	 
	
              (ii)

            	
              Four
                calendar month period ending on September 30, 2008 and
                October 31, 2008

            	 	
              (ii)

            	
              0.90
                to 1.00

            
	 	 	 	 	 
	
              (iii)

            	
              Four
                calendar month period ending on November 30, 2008

            	 	
              (iii)

            	
              1.00
                to 1.00

            
	 	 	 	 	 
	
              (iv)

            	
              Five
                calendar month period ending on December 31, 2008

            	 	
              (iv)

            	
              1.00
                to 1.00

            
	 	 	 	 	 
	
              (v)

            	
              Six
                calendar month period ending on January 31, 2009

            	 	
              (v)

            	
              1.05
                to 1.00

            
	 	 	 	 	 
	
              (vi)

            	
              Seven
                calendar month period ending on February 28, 2009

            	 	
              (vi)

            	
              1.05
                to 1.00

            
	 	 	 	 	 
	
              (vii)

            	
              Eight
                calendar month period ending on March 31, 2009

            	 	
              (vii)

            	
              1.05
                to 1.00

            
	 	 	 	 	 
	
              (viii)

            	
              Nine
                calendar month period ending on April 30, 2009

            	 	
              (viii)

            	
              1.05
                to 1.00

            
	 	 	 	 	 
	
              (ix)

            	
              Ten
                calendar month period ending on May 31, 2009

            	 	
              (ix)

            	
              1.05
                to 1.00

            
	 	 	 	 	 
	
              (x)

            	
              Eleven
                calendar month period ending on June 30, 2009

            	 	
              (x)

            	
              1.05
                to 1.00

            
	 	 	 	 	 
	
              (xi)

            	
              Twelve
                calendar month period ending on July 31, 2009, and on the last day of
                each succeeding calendar month

            	 	
              (xi)

            	
              1.05
                to 1.00

            

    

     

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

    (b) without
      the prior written consent of the Agent and the Required Lenders, the Companies
      will not:

     

    (i) enter
      into any Operating Lease if after giving effect thereto the aggregate
      obligations with respect to Operating Leases of the Companies during any Fiscal
      Year would exceed $3,000,000.00; or

     

    (ii) contract
      for, purchase, make expenditures for, lease pursuant to a Capital Lease or
      otherwise incur obligations with respect to Unfinanced Capital Expenditures
      (whether subject to a security interest or otherwise) during any Fiscal Year
      in
      the aggregate amount in excess of $5,000,000.00.

     

    (c) Maintain
      EBITDA of not less than the amount set forth below for the time period set
      forth
      below:

     

    
      	 	
              Period

            	 	 	
              Minimum
                EBITDA

            
	 	 	 	 	 
	
              (i)

            	
              Two
                calendar month period ending on February 29, 2008

            	 	(i)	
              $1,275,000

            
	 	
               

            	 	 	 
	
              (ii)

            	
              Three
                calendar month period ending on March 31, 2008

            	 	(ii)	
              $1,725,000

            
	 	
               

            	 	 	 
	
              (iii)

            	
              Four
                calendar month period ending on April 30, 2008

            	 	(iii)	
              $2,675,000

            
	 	
               

            	 	 	 
	
              (iv)

            	
              Five
                calendar month period ending on May 31, 2008

            	 	(iv)	
              $3,500,000

            
	 	
               

            	 	 	 
	
              (v)

            	
              Six
                calendar month period ending on June 30, 2008

            	 	(v)	
              $4,375,000

            
	 	
               

            	 	 	 
	
              (vi)

            	
              Seven
                calendar month period ending on July 31, 2008

            	 	(vi)	
              $5,675,000”

            

    

     

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

    2.14 Additional
      Agreement.
      Companies hereby agree that by April 30, 2008, Cardlock will be in full
      compliance with the provisions of Sections
      3.4(a)
      and
3.4(b)
      of the
      Financing Agreement regarding Depository Accounts, Blocked Accounts, deposit
      of
      proceeds of Collateral into Depository Accounts and Blocked Accounts, and
      Blocked Account Agreements, including, without limitation, establishing and
      maintaining Blocked Accounts satisfactory to Agent, depositing into such Blocked
      Accounts all proceeds of Collateral received by Cardlock and all amounts on
      deposit in deposit accounts used by Cardlock at each of its locations (as
      further provided in Section 3.4(a)
      of the
      Financing Agreement), and delivering to Agent executed Blocked Account
      Agreements in form and substance satisfactory to Agent. Failure by Cardlock
      to
      be in full compliance with such provisions of Sections
      3.4(a)
      and
3.4(b)
      of the
      Financing Agreement by April 30, 2008, shall constitute an immediate Event
      of Default.

     

    2.15 Amendment
      to Amended and Restated Revolving Credit Notes.

     

    (a) Each
      Amended and Restated Revolving Credit Note, dated October 30, 2007,
      executed by Companies, and respectively payable to Wachovia, SunTrust and PNC,
      is hereby amended as follows:

     

    
      	 	
              (i)

            	
              Each
                reference to the dollar amount “$15,555,555.56” shall be deemed to be a
                reference to the dollar amount
“$17,777,777.78”.

            

    

     

    
      	 	
              (ii)

            	
              Each
                reference to the phrase “FIFTEEN MILLION FIVE HUNDRED FIFTY-FIVE THOUSAND
                FIVE HUNDRED FIFTY-FIVE AND 56/100 DOLLARS” shall be deemed to be a
                reference to the phrase “SEVENTEEN MILLION SEVEN HUNDRED SEVENTY-SEVEN
                THOUSAND SEVEN HUNDRED SEVENTY-SEVEN AND 78/100THS DOLLARS”.

            

    

     

    (b) The
      Amended and Restated Revolving Credit Note, dated October 30, 2007,
      executed by Companies and payable to the order of CIT, is hereby amended as
      follows:

     

    
      	 	
              (i)

            	
              Each
                reference to the dollar amount “$23,333,333.32” shall be deemed to be a
                reference to the dollar amount “$26,666,666.66”.

            

    

     

    
      	 	
              (ii)

            	
              Each
                reference to the phrase “TWENTY THREE MILLION THREE HUNDRED THIRTY-THREE
                THOUSAND THREE HUNDRED THIRTY-THREE AND 32/100THS DOLLARS” shall be deemed
                to be a reference to the phrase “TWENTY-SIX MILLION SIX HUNDRED SIXTY-SIX
                THOUSAND SIX HUNDRED SIXTY-SIX AND 66/100THS
                DOLLARS”.

            

    

     

    
      
        
        

      

      
        12

        
          

        

      

      
        
        

      

    

    2.16 Amendment
      to Amended and Restated Swingline Note.
      The
      Amended and Restated Swingline Note, dated October 20, 2007, executed by
      Companies and payable to the order of CIT, is hereby amended as
      follows:

     

    (a) The
      first
      two references to the dollar amount of $7,000,000” shall be deemed to be
      references to the dollar amount “$8,000,000.”

     

    (b) Each
      reference to the phrase “SEVEN MILLION DOLLARS AND NO CENTS” shall be deemed to
      be a reference to the phrase “EIGHT MILLION DOLLARS AND NO CENTS.”

     

    2.17 Fees.
      In
      consideration for the agreements set forth herein, Companies shall pay to Agent,
      for the pro rata benefit of Lenders, an amendment fee of $50,000, which fee
      (i) shall be deemed fully earned on the date of execution of this
      Agreement, (ii) shall be non-refundable, and (iii) shall be due and
      payable in full on the date of execution of this Agreement.

     

    ARTICLE
      III

    Waiver

     

    3.01 Waiver.
      The
      Lenders hereby waive (i) (a) the Existing Events of Default (as
      defined in the Forbearance Agreement), and (b) the failure of Companies to
      comply with the Fixed Charge Coverage Ratio financial covenant set forth in
      Section
      7.10(a)
      of the
      Financing Agreement for the testing period ending on February 29, 2008 (as
      such Section
      7.10(a)
      read
      prior to the amendment thereof contained in this Amendment), and (c) the
      failure of Companies to comply with the requirement set forth in Section 2.08
      of that
      certain Second Amendment to Second Amended and Restated Financing Agreement
      and
      Other Loan Documents, dated October 5, 2007, executed by Companies, Agent
      and certain Lenders as “Required Lenders,” that Companies deliver to Agent
      within the time period therein specified the documentation relating to the
      Blocked Accounts required to be executed by Cardlock, and any continuing failure
      of Cardlock prior to April 30, 2008, to be in full compliance with the
      provisions of Sections
      3.4(a)
      and
3.4(b)
      of the
      Financing Agreement regarding Depository Accounts, Blocked Accounts, deposit
      of
      proceeds of Collateral into Depository Accounts and Blocked Accounts, and
      Blocked Account Agreements; (ii) any Event of Default arising out of any
      breach described under clause
      (i)
      of this
Section
      3.01;
      and
      (iii) any Event of Default caused by failures to satisfy conditions
      precedent set forth in Section 2
      of the
      Financing Agreement (including conditions precedent to any further borrowing
      under the Financing Agreement) resulting from any breach described in
clause
      (i)
      of this
Section
      3.01.

     

    3.02 No
      Other Waivers.
      Except
      as expressly set forth in Section
      3.01
      above,
      nothing contained herein shall be construed as a waiver by Agent or any Lender
      of any covenant or provision of the Financing Agreement, or any other Loan
      Document or any other contract or instrument between any Company and/or Parent
      and Agent and/or any Lender, and neither Agent’s nor any Lender’s failure at any
      time or times hereafter to require strict performance by any Company and/or
      Parent of any provision thereof shall waive, affect or diminish any right of
      Agent or any Lender thereafter to demand strict compliance therewith. Each
      of
      Agent and each Lender hereby reserves all rights granted under the Financing
      Agreement, and each other Loan Document and any other contract or instrument
      between any Company and/or Parent and Agent and/or any Lender.

     

    
      
        
        

      

      
        13

        
          

        

      

      
        
        

      

    

    ARTICLE
      IV

    Conditions
      Precedent

     

    4.01 Conditions
      to Effectiveness.
      The
      effectiveness of this Agreement is subject to the satisfaction of the following
      conditions precedent, unless specifically waived in writing by
      Agent:

     

    (a) Agent
      shall have received all of the following, each in form and substance
      satisfactory to Agent (each of which shall be deemed to be a “Loan
      Document”
for
      purposes of the Financing Agreement):

     

    (i) This
      Agreement, duly executed by Companies, Parent and Lenders; and

     

    (ii) An
      amendment to the Fee Letter; and

     

    (iii) Such
      additional documents, instruments and information as Agent may
      request.

     

    (b) The
      representations and warranties contained herein and in the Financing Agreement,
      and the other Loan Documents, as each is amended hereby, shall be true and
      correct as of the date hereof, as if made on the date hereof.

     

    (c) No
      Default or Event of Default shall have occurred and be continuing, unless such
      Event of Default has been otherwise specifically waived in writing by Agent
      and
      Lenders.

     

    (d) All
      corporate proceedings taken in connection with the transactions contemplated
      by
      this Agreement and all documents, instruments and other legal matters incident
      thereto shall be satisfactory to Agent and its legal counsel.

     

    (e) Agent
      shall have received payment, in immediately available funds, of the fee
      described in Section
      2.17
      hereof.

     

    (f) Agent
      shall have received payment, in immediately available funds, of (i) all
      Additional Interest (as defined in the Forbearance Agreement) which has accrued
      since March 1, 2008, and remains unpaid, (ii) any portion of the
      Temporary Line Increase Fee (as defined in the Forbearance Agreement) which
      remains unpaid, and (iii) all other unpaid amounts payable by Companies
      pursuant to the Forbearance Agreement.

     

    ARTICLE
      V

    Ratifications,
      Representations and Warranties

     

    5.01 Ratifications.
      The
      terms and provisions set forth in this Agreement shall modify and supersede
      all
      inconsistent terms and provisions set forth in the Financing Agreement and
      the
      other Loan Documents, and, except as expressly modified and superseded by this
      Agreement, the terms and provisions of the Financing Agreement and the other
      Loan Documents are ratified and confirmed and shall continue in full force
      and
      effect. Each of the parties hereto agrees that the Financing Agreement and
      the
      other Loan Documents, as amended hereby, shall continue to be legal, valid,
      binding and enforceable in accordance with their respective terms.

     

    
      
        
        

      

      
        14

        
          

        

      

      
        
        

      

    

    5.02 Representations
      and Warranties.
      Each of
      each Company and Parent hereby represents and warrants to Agent and each Lender
      that (a) the execution, delivery and performance of this Agreement and any
      and
      all other Loan Documents executed and/or delivered in connection herewith have
      been authorized by all requisite corporate action on the part of each of each
      Company and Parent and will not violate the Articles of Incorporation or Bylaws
      of any Company or Parent; (b) the representations and warranties contained
      in
      the Financing Agreement, as amended hereby, and any other Loan Document are
      true
      and correct on and as of the date hereof and on and as of the date of execution
      hereof as though made on and as of each such date; and (c) no Default or Event
      of Default under the Financing Agreement, as amended hereby, has occurred and
      is
      continuing, unless such Default or Event of Default has been specifically waived
      in writing by Agent and each Lender. Each of each Company and Parent hereby
      represents and warrants to Agent and each Lender that it is in full compliance
      with all covenants and agreements contained in the Financing Agreement, and
      the
      other Loan Documents, as amended hereby.

     

    ARTICLE
      VI

    Miscellaneous
      Provisions

     

    6.01 Survival
      of Representations and Warranties.
      All
      representations and warranties made in the Financing Agreement or any other
      Loan
      Document, including, without limitation, any document furnished in connection
      with this Agreement, shall survive the execution and delivery of this Agreement
      and the other Loan Documents, and no investigation by Agent or any Lender or
      any
      closing shall affect the representations and warranties or the right of Agent
      or
      any Lender to rely upon them.

     

    6.02 Reference
      to Financing Agreement.
      Each of
      the Financing Agreement and the other Loan Documents and any and all other
      agreements, documents or instruments now or hereafter executed and delivered
      pursuant to the terms hereof or pursuant to the terms of the Financing
      Agreement, as amended hereby, is hereby amended so that any reference in the
      Financing Agreement and such other Loan Documents to the Financing Agreement
      shall mean a reference to the Financing Agreement as amended
      hereby.

     

    6.03 Expenses
      of Agent.
      Each of
      each Company and Parent agrees to pay on demand all costs and expenses incurred
      by Agent in connection with the preparation, negotiation and execution of this
      Agreement and the other Loan Documents executed pursuant hereto, and any and
      all
      amendments, modifications, and supplements thereto, including, without
      limitation, the costs and fees of Agent’s legal counsel, and all costs and
      expenses incurred by Agent in connection with the enforcement or preservation
      of
      any rights under the Financing Agreement, as amended hereby, or any other Loan
      Document, including, without limitation, the costs and fees of Agent’s legal
      counsel.

     

    
      
        
        

      

      
        15

        
          

        

      

      
        
        

      

    

    6.04 Severability.
      Any
      provision of this Agreement held by a court of competent jurisdiction to be
      invalid or unenforceable shall not impair or invalidate the remainder of this
      Amendment and the effect thereof shall be confined to the provision so held
      to
      be invalid or unenforceable.

     

    6.05 Successors
      and Assigns.
      This
      Agreement is binding upon and shall inure to the benefit of the parties hereto
      and their respective successors and assigns, except neither any Company nor
      Parent may assign or transfer any of its rights or obligations hereunder without
      the prior written consent of Agent and each Lender.

     

    6.06 Counterparts.
      This
      Agreement may be executed in one or more counterparts, each of which when so
      executed shall be deemed to be an original, but all of which when taken together
      shall constitute one and the same instrument.

     

    6.07 Effect
      of Waiver.
      No
      consent or waiver, express or implied, by Agent or any Lender to or for any
      breach of or deviation from any covenant or condition by any Company or Parent
      shall be deemed a consent to or waiver of any other breach of the same or any
      other covenant, condition or duty.

     

    6.08 Headings.
      The
      headings, captions, and arrangements used in this Agreement are for convenience
      only and shall not affect the interpretation of this Agreement

     

    6.09 Applicable
      Law.
      THIS AGREEMENT AND ALL OTHER LOAN DOCUMENTS EXECUTED PURSUANT HERETO SHALL
      BE
      DEEMED TO HAVE BEEN MADE AND TO BE PERFORMABLE IN AND SHALL BE GOVERNED BY
      AND
      CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF
      TEXAS.

     

    6.10 Final
      Agreement.
      THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT
      BETWEEN THE PARTIES, AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR,
      CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS BETWEEN THE PARTIES. THERE ARE
      NO
      UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES.

     

    
      
        
        

      

      
        16

        
          

        

      

      
        
        

      

    

    6.11 Release.
      EACH OF EACH COMPANY AND PARENT HEREBY ACKNOWLEDGES THAT IT HAS NO DEFENSE,
      COUNTERCLAIM, OFFSET, CROSS-COMPLAINT, CLAIM OR DEMAND OF ANY KIND OR NATURE
      WHATSOEVER THAT CAN BE ASSERTED TO REDUCE OR ELIMINATE ALL OR ANY PART OF ITS
      LIABILITY TO REPAY THE “OBLIGATIONS” OR TO SEEK AFFIRMATIVE RELIEF OR DAMAGES OF
      ANY KIND OR NATURE FROM AGENT OR ANY LENDER. EACH OF EACH COMPANY AND PARENT
      HEREBY VOLUNTARILY AND KNOWINGLY RELEASES AND FOREVER DISCHARGES EACH OF AGENT
      AND EACH LENDER, ITS PREDECESSORS, AGENTS, EMPLOYEES, SUCCESSORS AND ASSIGNS,
      FROM ALL POSSIBLE CLAIMS, DEMANDS, ACTIONS, CAUSES OF ACTION, DAMAGES, COSTS,
      EXPENSES, AND LIABILITIES WHATSOEVER, KNOWN OR UNKNOWN, ANTICIPATED OR
      UNANTICIPATED, SUSPECTED OR UNSUSPECTED, FIXED, CONTINGENT, OR CONDITIONAL,
      AT
      LAW OR IN EQUITY, ORIGINATING IN WHOLE OR IN PART ON OR BEFORE THE DATE THIS
      AGREEMENT IS EXECUTED, WHICH ANY COMPANY OR PARENT MAY NOW OR HEREAFTER HAVE
      AGAINST AGENT OR ANY LENDER, ITS PREDECESSORS, AGENTS, EMPLOYEES, SUCCESSORS
      AND
      ASSIGNS, IF ANY, AND IRRESPECTIVE OF WHETHER ANY SUCH CLAIMS ARISE OUT OF
      CONTRACT, TORT, VIOLATION OF LAW OR REGULATIONS, OR OTHERWISE, AND ARISING
      FROM
      ANY “LOANS”, INCLUDING, WITHOUT LIMITATION, ANY CONTRACTING FOR, CHARGING,
      TAKING, RESERVING, COLLECTING OR RECEIVING INTEREST IN EXCESS OF THE HIGHEST
      LAWFUL RATE APPLICABLE, THE EXERCISE OF ANY RIGHTS AND REMEDIES UNDER THE
      FINANCING AGREEMENT OR OTHER LOAN DOCUMENTS, AND NEGOTIATION FOR AND EXECUTION
      OF THIS AGREEMENT.

     

    [REMAINDER
      OF THIS PAGE INTENTIONALLY LEFT BLANK]

    

     

     

     

     

     

     

     

     

     

     

     

    
 

    
      
        
        

      

      
        17

        
          

        

      

      
        
        

      

    

    Executed
      on this 28th day of March, 2008, to be effective as of the respective date
      indicated above.

     

     

    
      	 	 	
              COMPANIES:

               

              UNITED
                FUEL & ENERGY CORPORATION, 

              a
                Texas corporation

               

              By:
                /s/ Charles McArthur

              Name:
                Charles McArthur

              Title:
                Chief Executive Officer

               

               

              THREE
                D OIL CO. OF KILGORE, INC.,

              a
                Texas corporation

               

              By:
                /s/ Charles McArthur

              Name:
                Charles McArthur

              Title:
                Chief Executive Officer

               

               

              CARDLOCK
                FUELS SYSTEM, INC.,

              a
                California corporation

               

              By:
                /s/ Charles McArthur

              Name:
                Charles McArthur

              Title:
                Chief Executive Officer

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
       

      
        	 	 	
                PARENT:

                 

                UNITED
                  FUEL & ENERGY CORPORATION,

                a
                  Nevada corporation

                 

                By:
                  /s/ Charles McArthur

                Name:
                  Charles McArthur

                Title:
                  Chief Executive Officer

                 

                AGENT:

                 

                THE
                  CIT GROUP/BUSINESS CREDIT, INC.,

                as
                  Agent

                 

                By:
                  /s/ Alan R. Schnacke

                Name:
                  Alan R. Schnacke

                Title:
                  Vice President

                 

                LENDERS:

                 

                THE
                  CIT GROUP/BUSINESS CREDIT, INC.,

                as
                  a Lender

                 

                By:
                  /s/ Alan R. Schnacke

                Name:
                  Alan R. Schnacke

                Title:
                  Vice President

                

                Amount
                  of Commitment:                 
                  $29,666,666.66

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

       

       

      
        	 	 	
                SUNTRUST
                  BANK,

                as
                  a Lender

                 

                By:
                  /s/ Brian R. O’Fallon

                Name:
                  Brian R. O’Fallon

                Title:
                  Director

                 

                Amount
                  of Commitment:                 
                  $19,777,777.78

                 

                 

                WACHOVIA
                  BANK, N.A.,

                as
                  a Lender

                 

                By:
                  /s/ Thomas P. Floyd

                Name:
                  Thomas P. Floyd

                Title:
                  Vice President

                 

                Amount
                  of Commitment:                 
                  $19,777,777.78

                 

                 

                PNC
                  BANK NATIONAL ASSOCIATION,

                as
                  a Lender

                 

                By:
                  /s/ Ron Eckhoff

                Name:
                  Ron Eckhoff

                Title:
                  Vice President

                 

                Amount
                  of Commitment:                 
                  $19,777,777.78

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00140-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00140-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00140-of-00352.parquet"}]]