Document:

exhibit4-1.htm

 

Exhibit 4.1

 

FOURTH AMENDMENT

 

TO

 

FIFTH AMENDED AND RESTATED

 

CREDIT AGREEMENT

 

Dated as of June 27, 2013

 

among

 

WHITING PETROLEUM CORPORATION,

as Parent Guarantor,

 

WHITING OIL AND GAS CORPORATION,

as Borrower,

 

THE GUARANTORS,

 

JPMORGAN CHASE BANK, N.A.

 

as Administrative Agent,

 

BANK OF AMERICA, N.A. and WELLS FARGO BANK, N.A.

 

as Syndication Agents,

 

COMPASS BANK AND U.S. BANK

 

as Documentation Agents,

 

and

 

THE LENDERS PARTY HERETO

 

  

  

  

FOURTH AMENDMENT TO FIFTH AMENDED AND RESTATED

CREDIT AGREEMENT

 

THIS FOURTH AMENDMENT TO FIFTH AMENDED AND RESTATED CREDIT AGREEMENT (this “Fourth Amendment”) dated as of June 27, 2013 is among Whiting Petroleum Corporation, a corporation duly formed and existing under the laws of the State of Delaware (the “Parent Guarantor”), Whiting Oil and Gas Corporation, a corporation duly formed and existing under the laws of the State of Delaware (the “Borrower”), each of the undersigned guarantors (the “Guarantors”, and together with the Borrower, the “Obligors”), each of the lenders party to the Credit Agreement referred to below (collectively, the “Lenders”), and JPMORGAN CHASE BANK, N.A., as administrative agent for the Lenders (in such capacity, together with its successors in such capacity, the “Administrative Agent”).

 

R E C I T A L S

 

A.           The Borrower, the Parent Guarantor, the Administrative Agent, the Syndication Agents, the Documentation Agents and the Lenders are parties to that certain Fifth Amended and Restated Credit Agreement dated as of October 15, 2010, as amended by that certain First Amendment to Fifth Amended and Restated Credit Agreement, dated as of April 15, 2011, that certain Second Amendment to Fifth Amended and Restated Credit Agreement, dated as of October 12, 2011 and that certain Third Amendment to Fifth Amended and Restated Credit Agreement, dated as of October 19, 2012 (as further amended, restated, modified or supplemented, the “Credit Agreement”), pursuant to which the Lenders have made certain credit available to and on behalf of the Borrower.

 

B.           The Borrower has requested and the Administrative Agent and the Lenders have agreed to increase the Aggregate Maximum Credit Amounts and to make certain other changes to the Credit Agreement.

 

C.           NOW, THEREFORE, to induce the Administrative Agent and the Lenders party hereto to enter into this Fourth Amendment and 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, as amended by this Fourth Amendment.  Unless otherwise indicated, all section references in this Fourth Amendment refer to sections of the Credit Agreement.

 

Section 2. Amendments to Credit Agreement.

 

2.1 Amendments to Section 1.02.

 

(a) The definition of “Commodity Exchange Act” is hereby added where alphabetically appropriate:

 

“Commodity Exchange Act” means the Commodity Exchange Act (7 U.S.C. § 1 et seq.), as amended from time to time, and any successor statute.

 

  

1

  

 

(b) The definition of “ECP” is hereby added where alphabetically appropriate:

 

“ECP” means any Person who qualifies as an “eligible contract participant” under Section 2(e) of the Commodity Exchange Act.

 

(c) The definition of “Fourth Amendment” is hereby added where alphabetically appropriate:

 

“Fourth Amendment” means that certain Fourth Amendment to Fifth Amended and Restated Credit Agreement, dated as of June 27, 2013, among the Borrower, the Guarantors, the Administrative Agent and the Lenders party thereto.

 

(d) The definition of “Qualified ECP Guarantor” is hereby added where alphabetically appropriate:

 

“Qualified ECP Guarantor” means, in respect of any Swap Obligation, any Guarantor that has total assets exceeding $10,000,000 at the time such Swap Obligation is incurred or such other person as constitutes an ECP under the Commodity Exchange Act or any regulations promulgated thereunder.

 

(e) The definition of “Swap Obligation” is hereby added where alphabetically appropriate:

 

“Swap Obligation” means, with respect to any Guarantor, any obligation to pay or perform under any agreement, contract or transaction that constitutes a “swap” within the meaning of section 1a(47) of the Commodity Exchange Act.

 

(f) The definition of “Agreement” is hereby amended to read:

 

“Agreement” means this Fifth Amended and Restated Credit Agreement, as amended by the First Amendment, the Second Amendment, the Third Amendment and the Fourth Amendment, as the same may be amended or supplemented from time to time.

 

2.2 Amendment to Annex I.  Annex I to the Credit Agreement is hereby replaced with Annex I to this Fourth Amendment.

 

2.3 Amendment to Section 8.12.  Section 8.12 is hereby amended to delete the amount “80%” each place as it appears in Section 8.12 and replace it with the amount “65%”.

 

2.4 Amendment to Article VIII. Article VIII of the Credit Agreement is amended to add the following as  Section 8.18:

 

  

2

  

 

“Section 8.18 Keepwell. Parent Guarantor will, and will cause the Borrower and each Guarantor to, provide such funds or other support as may be needed from time to time by the Borrower or any Guarantor, as applicable, to honor all of its obligations under this Agreement and any other Loan Document in respect of Swap Obligations (provided, however, that each Qualified ECP Guarantor shall only be liable under this Section 8.18 for the maximum amount of such liability that can be hereby incurred without rendering its obligations under this Section 8.18, or otherwise under this Agreement or any other Loan Document, as it relates to the Borrower, any Restricted Subsidiary or any Guarantor, as applicable, voidable under applicable law relating to fraudulent conveyance or fraudulent transfer, and not for any greater amount).  The obligations of the Borrower and each Guarantor under this Section 8.18 shall remain in full force and effect until the Commitments have expired or terminated and the principal of and interest on each Loan and all fees payable hereunder and all other amounts payable under the Loan Documents have been paid in full and all Letters of Credit have expired or terminated (or been cash collateralized in accordance with this Agreement) and all LC Disbursements shall have been reimbursed.  The Borrower intends that this Section 8.18 constitute, and this Section 8.18 shall be deemed to constitute, a “keepwell, support, or other agreement” for the benefit the Borrower and any Guarantor, as applicable, for all purposes of section 1a(18)(A)(v)(II) of the Commodity Exchange Act. For the avoidance of doubt, the provision of such funds or other support as contemplated by this Section 8.18 shall in no event constitute Debt or Indebtedness and, notwithstanding anything to the contrary in this Agreement or any other Loan Document, is in all respects permitted hereunder and thereunder.”

 

Section 3.  Additional Lenders; Reallocation of Commitments.

 

3.1 The Lenders have agreed, in consultation with the Borrower, that (a) each such Lender, effective as of the Amendment Effective Date, shall increase its respective Maximum Credit Amounts and Commitments in order to increase the Aggregate Maximum Credit Amounts (each such Lender, an “Increasing Lender”) and (b) certain new Lenders that did not maintain a Commitment under the Credit Agreement prior to the Amendment Effective Date (each such Lender, an “Additional Lender”) shall hereby assume all of the rights and obligations of a Lender under the Credit Agreement.

 

3.2 The Administrative Agent and the Borrower hereby consent to (a) each Increasing Lender’s acquisition of an increased interest in the Aggregate Maximum Credit Amounts and Commitments and (b) each Additional Lender’s acquisition of an interest in the Aggregate Maximum Credit Amounts and Commitments.  The Lenders have agreed among themselves, in consultation with the Borrower, to reallocate their respective Maximum Credit Amounts and Commitments by acquiring an interest in the Aggregate Maximum Credit Amount and Commitments, and the Administrative Agent and the Borrower hereby consent to such reallocation.  The Administrative Agent and the Borrower, together with the Lenders, waive (i) any requirement that an Assignment and Assumption or other documentation be executed in connection with such reallocation and (ii) the payment of any processing and recordation fee to the Administrative Agent.  Notwithstanding the foregoing, the reallocation of the Aggregate Maximum Credit Amounts and Commitments among the Lenders shall be deemed to have been consummated pursuant to the terms of the Assignment and Assumption attached as Exhibit G to the Credit Agreement as if the Lenders had executed an Assignment and Assumption with respect to such reallocation.

 

  

3

  

 

3.3 Each Additional Lender hereby represents and warrants as follows: (a) it has full power and authority, and has taken all action necessary, to execute this Fourth Amendment and to consummate the transactions contemplated hereby and by the Credit Agreement and to become a Lender under the Credit Agreement and the other Loan Documents, (b) it satisfies the requirements, if any, specified in the Credit Agreement that are required to be satisfied by it in order to acquire Commitments and become a Lender, (c) from and after the Amendment Effective Date it shall be bound by the provisions of the Credit Agreement and the other Loan Documents as a Lender thereunder and, to the extent of its Commitment, shall have the obligations of a Lender thereunder, (d) it has received a copy of the Credit Agreement and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Fourth Amendment and the Credit Agreement on the basis of which it has made such analysis and decision independently and without reliance on the Administrative Agent or any other Lender and (e) if it is a Foreign Lender, it has delivered all documents required to be delivered by it pursuant to the terms of the Credit Agreement; and agrees that (i) it will, independently and without reliance on the Administrative Agent or any other Lender, and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Loan Documents, and (ii) it will perform in accordance with their terms all of the obligations which by the terms of the Loan Documents are required to be performed by it as a Lender.

 

3.4 On the Amendment Effective Date and after giving effect to such increases, the Maximum Credit Amounts and Applicable Percentage of each Lender shall be as set forth on Annex I to this Fourth Amendment and such Annex I shall supersede and replace the existing Annex I to the Credit Agreement.  On or about the Amendment Effective Date, (a) if the face amount of the Note held by any Increasing Lender is less than its Maximum Credit Amount after giving effect to the increase contemplated by this Fourth Amendment, then such Increasing Lender shall so notify the Borrower and the Borrower will, if requested by such Increasing Lender, deliver to each such Increasing Lender a Note payable to the order of such Lender in a principal amount equal to its Maximum Credit Amount after giving effect to such increase, and otherwise duly completed, and (b) if requested by an Additional Lender, the Borrower will deliver to each such Additional Lender a Note in accordance with Section 2.02(d) of the Credit Agreement.  Each Increasing Lender receiving a replacement Note agrees to promptly thereafter return to Borrower the previously issued Note held by such Lender marked canceled or otherwise similarly defaced.

 

Section 4. Conditions Precedent.  This Fourth Amendment shall not become effective until the date on which each of the following conditions is satisfied (or waived in accordance with Section 12.02 of the Credit Agreement) (such date, the “Amendment Effective Date”):

 

4.1 The Administrative Agent shall have received from the Borrower, the Parent Guarantor and each of the Increasing Lenders and each of the Additional Lenders, counterparts (in such number as may be requested by the Administrative Agent) of this Fourth Amendment signed on behalf of such Person.

 

4.2 The Administrative Agent, the Arranger and the Lenders shall have received all fees and amounts due and payable on or prior to the Amendment Effective Date, including, to the extent invoiced, reimbursement or payment of all documented out-of-pocket expenses required to be reimbursed or paid by the Borrower under the Credit Agreement.

 

  

4

  

 

4.3 The Administrative Agent shall have received a certificate of the Secretary or an Assistant Secretary of the Borrower and each Guarantor setting forth (a) resolutions of its board of directors with respect to the authorization of the Borrower or such Guarantor to execute and deliver this Fourth Amendment and to enter into the transactions contemplated in those documents, (b) the officers of the Borrower or such Guarantor (i) who are authorized to sign the Loan Documents to which the Borrower or such Guarantor is a party and (ii) who will, until replaced by another officer or officers duly authorized for that purpose, act as its representative for the purposes of signing documents and giving notices and other communications in connection with this Fourth Amendment and the transactions contemplated hereby, (c) specimen signatures of such authorized officers, and (d) the Organizational Documents of the Borrower and such Guarantor, certified as being true and complete (or having no changes since the date the Organizational Documents were last certified to the Administrative Agent).  The Administrative Agent and the Lenders may conclusively rely on such certificate until the Administrative Agent receives notice in writing from the Borrower to the contrary.

 

4.4 The Administrative Agent shall have received, in form and substance reasonably satisfactory to the Administrative Agent, an opinion of (a) Bruce R. DeBoer, General Counsel to the Parent Guarantor and the Borrower and (b) Foley & Lardner LLP, special New York counsel to the Parent Guarantor and the Borrower.

 

4.5 The Administrative Agent shall be reasonably satisfied that the Security Instruments create first priority, perfected Liens (provided that Liens which are permitted by the terms of Section 9.03 of the Credit Agreement to attach to the Mortgaged Properties may exist and have whatever priority such Liens have at such time under applicable law) on at least 80% of the total value of the Oil and Gas Properties evaluated in the most recently delivered Reserve Report.

 

4.6 No Default or Event of Default shall have occurred and be continuing as of the date hereof, after giving effect to the terms of this Fourth Amendment.

 

The Administrative Agent is hereby authorized and directed to declare this Fourth Amendment to be effective when it has received documents confirming or certifying, to the satisfaction of the Administrative Agent, compliance with the conditions set forth in this Section 4 or the waiver of such conditions as permitted hereby. Such declaration shall be final, conclusive and binding upon all parties to the Credit Agreement for all purposes.

 

If (a) any Eurodollar Borrowings are outstanding on the Amendment Effective Date, (b) the Amendment Effective Date is a date other than the last day of the Interest Period applicable to such Eurodollar Borrowings and (c) the Lenders’ respective Commitments are reallocated pursuant to Section 3.2 of this Fourth Amendment in accordance with each Lender’s Applicable Percentage as in effect on the Amendment Effective Date, the Loans shall be reallocated in accordance with each Lender’s Applicable Percentage and the Borrower shall pay compensation required by Section 5.02 of the Credit Agreement in connection with such reallocation.

 

  

5

  

 

Section 5. Miscellaneous.

 

5.1 Confirmation.  The provisions of the Credit Agreement, as amended by this Fourth Amendment, shall remain in full force and effect following the effectiveness of this Fourth Amendment.

 

5.2 Ratification and Affirmation; Representations and Warranties.  Each Obligor hereby (a) acknowledges the terms of this Fourth 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, notwithstanding the amendments contained herein; and (c) represents and warrants to the Lenders that as of the date hereof, after giving effect to the terms of this Fourth Amendment:  (i) all of the representations and warranties contained in each Loan Document to which it is a party are true and correct in all material respects, except to the extent any such representations and warranties are expressly limited to an earlier date, in which case, such representations and warranties shall continue to be true and correct as of such specified earlier date and (ii) no Default or Event of Default has occurred and is continuing.

 

5.3 No Waiver; Loan Document.  The execution, delivery and effectiveness of this Fourth Amendment shall not, except as expressly provided herein, operate as a waiver of any right, power or remedy of any Lender or the Administrative Agent under any of the Loan Documents, nor constitute a waiver of any provision of any of the Loan Documents.  On and after the Amendment Effective Date, this Fourth Amendment shall for all purposes constitute a Loan Document.

 

5.4 Counterparts.  This Fourth 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 Fourth Amendment by facsimile or electronic transmission in portable document format (.pdf) shall be effective as delivery of a manually executed counterpart hereof.

 

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

 

5.6 GOVERNING LAW.  THIS FOURTH 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.

 

  

6

  

 

5.7 Severability.  Any provision of this Fourth Amendment which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

 

5.8 Register.  On or after the Amendment Effective Date, the Administrative Agent shall promptly record the Maximum Credit Amount of each Lender (which, for the avoidance of doubt, shall include each Increasing Lender and Additional Lender) in the Register required to be maintained by the Administrative Agent pursuant to Section 12.04(b)(iv) of the Credit Agreement.

 

[SIGNATURES BEGIN NEXT PAGE]

 

  

7 

  

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

 

	
PARENT GUARANTOR:

	
WHITING PETROLEUM CORPORATION

 

 

	  	
By:

	
/s/ Michael J. Stevens

	  	
Name:

	
Michael J. Stevens

	  	
Title:

	
Vice President and Chief Financial Officer

 

	
BORROWER:

	
WHITING OIL AND GAS CORPORATION

 

 

	  	
By:

	
/s/ Michael J. Stevens

	  	
Name:

	
Michael J. Stevens

	  	
Title:

	
Vice President and Chief Financial Officer

 

  

Signature Page to Fourth Amendment to

Fifth Amended and Restated Credit Agreement

S-1

  

 

	
LENDERS:

	
JPMORGAN CHASE BANK, N.A., as Administrative Agent and as a Lender

 

 

	  	
By:

	
/s/ Ryan A. Fuessel

	  	
Name:

	
Ryan A. Fuessel

	  	
Title:

	
Executive Director

  

Signature Page to Fourth Amendment to

Fifth Amended and Restated Credit Agreement

S-2

  

	  	
BANK OF AMERICA, N.A.

 

 

	  	
By:

	
/s/ Michael J. Clayborne

	  	
Name:

	
Michael J. Clayborne

	  	
Title:

	
Vice President

 

  

Signature Page to Fourth Amendment to

Fifth Amended and Restated Credit Agreement

S-3

  

 

	  	
WELLS FARGO BANK, N.A.

 

 

	  	
By:

	
/s/ Sarah Thomas

	  	
Name:

	
Sarah Thomas

	  	
Title:

	
Vice President

  

Signature Page to Fourth Amendment to

Fifth Amended and Restated Credit Agreement

S-4

  

 

	  	
COMPASS BANK

 

 

	  	
By:

	
/s/ James Neblett

	  	
Name:

	
James Neblett

	  	
Title:

	
Vice President

 

  

Signature Page to Fourth Amendment to

Fifth Amended and Restated Credit Agreement

S-5

  

 

	  	
UNION BANK, N.A.

(formerly known as Union Bank of California, N.A.)

 

 

	  	
By:

	
/s/ Alison White

	  	
Name:

	
Alison White

	  	
Title:

	
Vice President

 

  

Signature Page to Fourth Amendment to

Fifth Amended and Restated Credit Agreement

S-6

  

 

	  	
U.S. BANK NATIONAL ASSOCIATION

 

 

	  	
By:

	
/s/ Tara McLean

	  	
Name:

	
Tara McLean

	  	
Title:

	
Vice President

 

  

Signature Page to Fourth Amendment to

Fifth Amended and Restated Credit Agreement

S-7

  

 

	  	
SOVEREIGN BANK, N.A.

 

 

	  	
By:

	
/s/ Aidan Lanigan

	  	
Name:

	
Aidan Lanigan

	  	
Title:

	
Senior Vice President

	  	  	  
	  	  	  
	  	
By:

	
/s/ David O’Driscoll

	  	
Name:

	
David O’Driscoll

	  	
Title:

	
Senior Vice President

 

  

Signature Page to Fourth Amendment to

Fifth Amended and Restated Credit Agreement

S-8

  

 

	  	
THE BANK OF NOVA SCOTIA

 

 

	  	
By:

	
/s/ Terry Donovan

	  	
Name:

	
Terry Donovan

	  	
Title:

	
Managing Director

 

  

Signature Page to Fourth Amendment to

Fifth Amended and Restated Credit Agreement

S-9

  

 

	  	
SUNTRUST BANK, NA

 

 

	  	
By:

	
/s/ Shannon Juhan

	  	
Name:

	
Shannon Juhan

	  	
Title:

	
Vice President

 

  

Signature Page to Fourth Amendment to

Fifth Amended and Restated Credit Agreement

S-10

  

 

	  	
KEYBANK NATIONAL ASSOCIATION

 

 

	  	
By:

	
/s/ Joseph Scott

	  	
Name:

	
Joseph Scott

	  	
Title:

	
Senior Vice President

 

  

Signature Page to Fourth Amendment to

Fifth Amended and Restated Credit Agreement

S-11

  

 

	  	
BARCLAYS BANK PLC

 

 

	  	
By:

	
/s/ Vanessa A. Kurbatskiy

	  	
Name:

	
Vanessa A. Kurbatskiy

	  	
Title:

	
Vice President

 

  

Signature Page to Fourth Amendment to

Fifth Amended and Restated Credit Agreement

S-12

  

 

	  	
COMERICA BANK

 

 

	  	
By:

	
/s/ Ekaterina Evseev

	  	
Name:

	
Ekaterina Evseev

	  	
Title:

	
Assistant Vice President

 

  

Signature Page to Fourth Amendment to

Fifth Amended and Restated Credit Agreement

S-13

  

 

	  	
MORGAN STANLEY BANK, N.A.

 

 

	  	
By:

	
/s/ Kelly Chin

	  	
Name:

	
Kelly Chin

	  	
Title:

	
Authorized Signatory

 

  

Signature Page to Fourth Amendment to

Fifth Amended and Restated Credit Agreement

S-14

  

 

	  	
RAYMOND JAMES BANK, FSB

 

 

	  	
By:

	
/s/ Scott G. Axelrod

	  	
Name:

	
Scott G. Axelrod

	  	
Title:

	
Vice President

 

  

Signature Page to Fourth Amendment to

Fifth Amended and Restated Credit Agreement

S-15

  

 

	  	
ROYAL BANK OF CANADA

 

 

	  	
By:

	
/s/ Jay Sartain

	  	
Name:

	
Jay Sartain

	  	
Title:

	
Authorized Signatory

 

  

Signature Page to Fourth Amendment to

Fifth Amended and Restated Credit Agreement

S-16

  

 

	  	
BOKF, NA DBA BANK OF OKLAHOMA

 

 

	  	
By:

	
/s/ Michael M. Logan

	  	
Name:

	
Michael M. Logan

	  	
Title:

	
Senior Vice President

 

  

Signature Page to Fourth Amendment to

Fifth Amended and Restated Credit Agreement

S-17

  

 

	  	
RB INTERNATIONAL FINANCE (USA) LLC

(formerly known as RZB Finance LLC)

 

 

	  	
By:

	
/s/ Shirley Ritch

	  	
Name:

	
Shirley Ritch

	  	
Title:

	
Vice President

	  	  	  
	  	
By:

	
/s/ John A. Valiska

	  	
Name:

	
John A. Valiska

	  	
Title:

	
First Vice President

 

  

Signature Page to Fourth Amendment to

Fifth Amended and Restated Credit Agreement

S-18

  

 

	  	
CANADIAN IMPERIAL BANK OF COMMERCE, NEW YORK AGENCY

 

 

	  	
By:

	
/s/ Trudy Nelson

	  	
Name:

	
Trudy Nelson

	  	
Title:

	
Managing Director

	  	  	  
	  	
By:

	
/s/ Darla Mahoney

	  	
Name:

	
Darla Mahoney

	  	
Title:

	
Executive Director

 

  

Signature Page to Fourth Amendment to

Fifth Amended and Restated Credit Agreement

S-19

  

 

	  	
CAPITAL ONE, NATIONAL ASSOCIATION

 

 

	  	
By:

	
/s/ Kristin N. Oswald

	  	
Name:

	
Kristin N. Oswald

	  	
Title:

	
Vice President

 

  

Signature Page to Fourth Amendment to

Fifth Amended and Restated Credit Agreement

S-20

  

 

	  	
FIFTH THIRD BANK

 

 

	  	
By:

	
/s/ Byron L. Cooley

	  	
Name:

	
Byron L. Cooley

	  	
Title:

	
Executive Director

 

  

Signature Page to Fourth Amendment to

Fifth Amended and Restated Credit Agreement

S-21

  

 

Annex I

LIST OF MAXIMUM CREDIT AMOUNTS

Aggregate Maximum Credit Amounts

 

	
Name of Lender

	 	
Applicable Percentage

	 	 	
Maximum Credit Amount

	
JPMorgan Chase Bank, N.A.

	 	
9.00%

	 	$	
225,000,000.00

	
Bank of America, N.A.

	 	
8.60%

	 	 	
215,000,000.00

	
Wells Fargo Bank, N.A.

	 	
8.60%

	 	 	
215,000,000.00

	
Compass Bank

	 	
8.60%

	 	 	
215,000,000.00

	
U.S. Bank National Association

	 	
7.20%

	 	 	
180,000,000.00

	
SunTrust Bank

	 	
7.20%

	 	 	
180,000,000.00

	
Union Bank, N.A.

	 	
6.00%

	 	 	
150,000,000.00

	
Capital One, National Association

	 	
6.00%

	 	 	
150,000,000.00

	
Canadian Imperial Bank of Commerce, New York Agency

	 	
6.00%

	 	 	
150,000,000.00

	
Royal Bank of Canada

	 	
6.00%

	 	 	
150,000,000.00

	
The Bank of Nova Scotia

	 	
4.00%

	 	 	
100,000,000.00

	
Sovereign Bank, N.A.

	 	
3.60%

	 	 	
90,000,000.00

	
KeyBank National Association

	 	
3.60%

	 	 	
90,000,000.00

	
RB International Finance (USA) LLC

	 	
3.20%

	 	 	
80,000,000.00

	
BOKF, NA dba Bank of Oklahoma

	 	
2.40%

	 	 	
60,000,000.00

	
Comerica Bank

	 	
2.40%

	 	 	
60,000,000.00

	
Fifth Third Bank

	 	
2.40%

	 	 	
60,000,000.00

	
Morgan Stanley Bank, N.A.

	 	
2.40%

	 	 	
60,000,000.00

	
Barclays Bank PLC

	 	
1.40%

	 	 	
35,000,000.00

	
Raymond James Bank, N.A.

	 	
1.40%

	 	 	
35,000,000.00

	
TOTAL

	 	
100%

	 	$ 	
2,500,000,000

 

Annex IEX-10.1

Exhibit 10.1

TRANSITION SERVICES AND GENERAL RELEASE AGREEMENT

This Transition Services and General Release Agreement (this “Agreement”) is entered
into by and between James R. Bolch (“Employee”) and Exide Technologies, a Delaware
corporation, with offices at 13000 Deerfield Parkway, Building 200, Milton, Georgia, 30004
(“Exide”).

WITNESSETH:

WHEREAS, Exide is a global leader in stored electrical energy solutions and one of the largest
world-wide manufacturers, suppliers and recyclers of lead-acid batteries (collectively, the
"Business”);

WHEREAS, Employee is Exide’s current President and Chief Executive Officer;

WHEREAS, Employee has voluntarily tendered his resignation from his position as President and
Chief Executive Officer and any other officer, employment or board of director positions with Exide
and its affiliates, effective as of July 31, 2013 (the “Separation Date”);

WHEREAS, Exide and Employee wish to assure the smooth transition of matters under Employee’s
supervision and management and to settle certain matters between them, fully and finally, under the
terms and conditions set forth exclusively in this Agreement;

NOW, THEREFORE, in consideration of these premises and the mutual promises and agreements
contained in this Agreement, subject to the entry of an order approving this Agreement by the
United States Bankruptcy Court for the District of Delaware, Employee shall be entitled to the
consideration described in Section 3 below, the adequacy and sufficiency of which consideration is
hereby acknowledged, and Exide and Employee hereby agree as follows:

1. Voluntary Resignation; Final Paycheck. Employee acknowledges that he has
voluntarily resigned from his position as President and Chief Executive Officer and any other
officer, employment or board of director positions with Exide and its affiliates, effective as of
the Separation Date, and that Exide has accepted such resignation(s). Exide shall pay to Employee,
within the normal payroll cycle, a lump-sum payment equal to the sum of all earned, but unpaid,
base pay through the Separation Date. Exide shall pay to Employee any unpaid business-related
expense reimbursements, which Employee incurred in accordance with Exide’s policies and procedures
during his employment with Exide that Employee substantiates to Exide no later than 60 days
following the date hereof, which payment shall be made within 30 days of such substantiation.
Employee and Exide acknowledge and agree that this payment represents the full payment to which
Employee is entitled by reason of his resignation and that Employee has no other rights to
compensation, severance, bonus payments, termination payments, benefits, acceleration of equity
awards, acceleration of compensation or benefits, or income protection rights under any other
agreement, policy or program of Exide.

2. Transition Services. From the Separation Date through November 29, 2013 (the
“Service Period”), Employee will provide Exide assistance, upon reasonable request to do
so, in appropriately transitioning matters under or related to Employee’s supervision and
management (the “Transition Services”). Nothing contained in this Agreement or any Transition
Services performed by Employee hereunder is intended to, or shall be construed or deemed to, create
an employer-employee relationship, partnership, joint venture, association or similar relationship
between Employee and Exide. Employee shall not have any right or authority to (a) assume or create
any obligation or responsibility, express or implied, on behalf of or in the name of Exide, (b)
bind Exide in any manner or (c) waive any rights of Exide. Employee shall not make any
representation or take any action inconsistent with the foregoing. Employee shall not take any
action that would reasonably lead a third party to believe that Employee has the authority to
assume, create or waive any obligation, responsibility or right, express or implied, on behalf or
in the name of Exide or to bind Exide in any manner.

3. Consideration. As consideration for the Transition Services to be performed by Employee,
Employee being available to provide the Transition Services, the General Release of Claims by
Employee pursuant to Section 6 below, and the other promises by Employee set forth in this
Agreement, subject to the terms of Section 15(b) of this Agreement, Exide shall pay to Employee an
aggregate payment of three hundred thousand dollars ($300,000), payable in four equal monthly
installments of seventy-five thousand dollars ($75,000) each, with the first installment due on the
August 30, 2013; the second installment due on September 30, 2013, the third installment due on
October 31, 2013, and the fourth installment due on November 29, 2013 (the “Payment Dates”).
Employee acknowledges that he is solely responsible for paying all federal, state and local income
or business taxes, including estimated taxes, self-employment and any other taxes, fees, additions
to tax, interest or penalties that may be assessed, imposed or incurred as a result of the
consideration provided in this Section 3.

4. Health Benefits. During the Service Period, if Employee timely elects continued
participation under the terms of the Consolidated Omnibus Budget Reconciliation Act (“COBRA”),
Employee and his dependents will continue to participate in the medical benefit plan in which he is
participating as of the Separation Date at his same employee cost as of the Separation Date, and
Exide will continue to pay the employer portion of the premiums during such period. Following the
Service Period and provided Employee has made a timely COBRA election, Employee will be eligible to
continue participating in Exide’s medical benefit plan at his sole cost in accordance with COBRA.
Additional information about COBRA continuation may be obtained by contacting Ms. Karen Smith,
Manager Employee Benefits, Exide Technologies, 13000 Deerfield Parkway, Bldg. 200, Milton, GA
30004.

5. Equity. Employee acknowledges that no further equity or cash awards shall be
provided to Employee under the 2009 Stock Incentive Plan. Furthermore, Employee acknowledges that
as of the Separation Date, all of the Employee’s unvested equity or cash awards issued pursuant to
any Restricted Stock Award Agreements, Performance Share Award Agreements and Performance Unit
Award Agreements or other award agreements between Exide and the Employee shall cease vesting and
all such unvested awards shall be immediately forfeited, as in accordance with the 2009 Stock
Incentive Plan and the terms of such award agreements.

6. General Release of Claims. Except as expressly provided in this Section 6,
Employee, for himself and his respective successors, representatives, administrators, executors,
agents, heirs, beneficiaries and assigns, hereby waives, releases and forever discharges the “Exide
Releasees” (as defined below) of and from any and all “Claims” (as defined below) (a) arising from
the beginning of time up to and including the date Employee executes this Agreement and/or (b)
relating, regarding or referring to Employee’s employment with Exide, the terms and conditions of
such employment and/or his resignation from such employment including, without limitation, under
his employment agreement with Exide, dated as of June 10, 2010 (the “Employment
Agreement”); provided, however, that Employee is not releasing (i) any right to
enforce the terms of this Agreement, (ii) any indemnification rights, (iii) any right to receive
benefits under Exide’s 401(k) or pension plans, if any, that have accrued and vested on or prior to
the Separation Date and to which Employee is entitled under the governing plan documents for
Exide’s employee benefit programs, (iv) any rights to which Employee is entitled as a shareholder
of Exide and/or (v) any rights that cannot be waived under applicable law. Employee also agrees and
acknowledges that he has been paid properly and in full for all hours he has worked.

	(a)	 	Definition of “Claims". For purposes of this Section 6 only, “Claims” includes,
without limitation, all actions or demands of any kind against the Exide Releasees that
Employee had, now has, or may have or claim to have in the future. More specifically,
“Claims” include rights, causes of action, charges, suits, grievances, damages, penalties,
losses, attorneys’ fees, costs, expenses, obligations, agreements, judgments and all other
liabilities of any kind or description whatsoever, either in law or in equity, whether known
or unknown, suspected or unsuspected. All of the following are among the types of Claims
which will be barred by this release: (i) Contract claims (whether express or implied); (ii)
Tort claims, such as for defamation or emotional distress; (iii) Claims under federal, state
and municipal laws, regulations, ordinances or court decisions of any kind; (iv) Claims of
discrimination, harassment or retaliation, whether based on race, color, religion, gender,
sex, sexual orientation, handicap and/or disability, national origin or any other legally
protected class; (v) Claims under The Age Discrimination in Employment Act, the Older Workers
Benefit Protection Act, Title VII of the Civil Rights Act of 1964, as amended, the Americans
with Disabilities Act, as amended, and similar state statutes and municipal ordinances; (vi)
Claims under the Employee Retirement Income Security Act, federal and state wage payment laws
and federal and state wage and hour laws, including laws relating to overtime and vacation;
(vii) Claims under the Worker Adjustment and Retraining Act of 1988 or similar statutes or
regulations of any jurisdiction relating to any plant closing or mass lay-off; (viii) Claims
under the Family and Medical Leave Act and similar state leave laws; (ix) Claims for wrongful
discharge; (x) to the extent permitted by applicable law, any “whistleblower” or retaliation
Claims; (xi) Claims under the Georgia Fair Employment Practices Act and any other Georgia
state employment-related laws; (xii) Claims for reasonable attorneys’ fees, including
litigation expenses and costs; (xiii) Claims made under or related to any Exide stock plans,
bonus, incentive or other similar plans or programs (xiii) and pre-petition or post petition
claims in connection with Exide’s Chapter 11 filing (the “Chapter 11 Filing”) with the
United States Bankruptcy Court for the District of Delaware (such filing and all related
proceedings and actions, the “Reorganization”). This list of Claims covered by this
release is not intended to be, and shall not be construed as, an exhaustive list.

	(b)	 	Definition of “Exide Releasees". For purposes of this Agreement, “Exide Releasees” includes,
without limitation, Exide Technologies and its past, present and future parents, affiliates,
subsidiaries, divisions, predecessors, successors, assigns, employee benefit plans and trusts.
It also includes any (i) past, present and future managers, directors, officers, partners,
agents, employees, shareholders, insurers, attorneys, representatives, consultants,
associates, fiduciaries, plan sponsors, administrators and trustees of each of the foregoing,
and each of their successors and assigns and (ii) debtors, debtors in possession, reorganized
debtors and trustees related to the Reorganization.

	(c)	 	No Pending Claims or Personal Recovery. Employee represents and warrants that no Claims
covered by this Section 6 are now pending against the Exide Releasees. Employee covenants and
agrees that he will not seek any personal recovery against the Exide Releasees arising out of
any of the matters released pursuant to this Section 6.

	(d)	 	Satisfaction of All Obligations. Employee acknowledges and agrees that the Exide Releasees
have fully satisfied any and all obligations owed to Employee arising out of or relating to
Employee’s employment with Exide, and no further sums are owed to him, except as expressly
provided in this Agreement.

7. Cooperation in Legal Proceedings; No Cooperation with Third Parties.

	(a)	 	Employee agrees to cooperate with the Exide Releasees with respect to any past, present, or
future claim, charge, action, suit, government or regulatory investigation, or other
proceeding in a court of law, arbitration, government agency, or in any other forum, that has
been, may be, or is threatened to be brought against the Exide Releasees, or that has been or
is brought by or on behalf of the Exide Releasees (including the Reorganization), that relates
to or arises from any action or inaction that actually or allegedly occurred while Employee
was employed by Exide and about which Employee has knowledge (a “Proceeding”). Except
as may be required by law, Employee shall not disclose or discuss with anyone who is not
directing or assisting Exide in any Proceeding, other than Employee’s own attorney, the fact
of or the subject matter of any Proceeding. In requesting cooperation and information from
Employee, Exide will attempt to arrange times that reasonably accommodate Employee and, to the
extent permitted by law, will reimburse Employee for any reasonable and pre-approved travel
and other out-of-pocket expenses Employee incurs in providing the cooperation and assistance
described in this section so long as Employee submits adequate supporting documentation to
Exide. Any reimbursement of expenses under this section shall be for expenses incurred by
Employee during his lifetime and such reimbursement shall be made not later than the last day
of the calendar year following the calendar year in which Employee incurs the expenses. In no
event will the amount of expenses so reimbursed by Exide in one year affect the amount of
expenses eligible for reimbursement, or in-kind benefits to be provided in any other taxable
year.

	(b)	 	Employee shall not encourage, suggest or recommend that any non-governmental person raise any
claims against the Exide Releasees, or provide any support (financially or otherwise) to any
non-governmental person to raise claims against the Exide Releasees. Employee understands that
nothing in this Agreement shall preclude him from providing truthful testimony under oath in
response to a valid and lawful subpoena. Employee further agrees that if he is subpoenaed or
compelled to testify or to provide a written or oral statement of any kind to anyone regarding
any company or confidential information, his employment with Exide, his resignation from
Exide, and/or the fact or terms of this Agreement, Employee shall provide a copy of the
compulsory process or request and complete information regarding the date and circumstances
under which he received it to Exide via facsimile and/or email to Office of the General
Counsel, 13000 Deerfield Parkway, Building 100W, Milton, Georgia, 30004 within twenty-four
(24) hours of such receipt. Employee or his attorney will not make any disclosure until the
Latest Possible Date for making such disclosure in accordance with the compulsory process
(“Latest Possible Date”). If Exide seeks to prevent disclosure in accordance with the
applicable legal procedures and provides Employee with notice before the Latest Possible Date
that it has initiated such procedures, Employee will cooperate with the Company in attempting
to prevent disclosure of any company or confidential information until such objections are
withdrawn or ruled upon; provided that nothing herein shall prohibit Employee from
making any disclosure on the Latest Possible Date if required to do so by law. Nothing in
this Section 7 or Section 8 will limit any rights Exide and the Exide Releasees may have under
the Georgia Trade Secrets Act of 1990.

8. Restrictive Covenants. Employee acknowledges that he is subject to the
confidentiality, non-competition, non-solicitation and other provisions of Section 9 of the
Employment Agreement, which Employee hereby reaffirms and agrees shall continue and remain in full
force and effect without change; provided that the Restricted Period under Section 9 of the
Employment Agreement shall be shortened as follows: for purposes of Section 9(c) relating to
non-competition and Section 9(d) relating to employee non-solicitation – 4 months from the
Separation Date; for purposes of Section 9(e) relating to customer non-solicitation – 1 year from
the Separation Date.

9. Return of Corporate Property. Except as expressly provided in this Section 9,
Employee acknowledges and agrees that he will return all Exide property in his possession or under
his custody or control, including both originals and copies when required by Exide. Employee
represents and warrants that he will not keep any originals or copies of any such items in any form
past the date required by Exide. Employee further acknowledges and agrees that his access to such
property and facilities will cease at a time to be determined by Exide. Notwithstanding the
foregoing, Employee shall be allowed to keep the cell phone that he has been using and immediately
following the Separation Date, Exide shall assign the number for Employee’s cell phone to Employee
and shall execute or cause to be executed all documents necessary to effectuate such transfer.

10. No Admission of Wrongdoing or Liability. This Agreement is not an admission by
the Exide Releasees and it is specifically denied that any action the Exide Releasees, or any of
them, have taken or failed to take with respect to Employee was wrongful, unlawful, or susceptible
of inflicting any damages or injury to Employee.

11. Voluntary Agreement. Exide has advised Employee that he has the opportunity to
consult with an independent attorney of his own choosing before deciding whether to sign this
Agreement and Employee represents that he has done so or elected knowingly not to do so. Employee
acknowledges that this is a reasonable period of time for his consideration, that his execution
within this time was voluntary, knowing, and not induced by any fraud or misrepresentation.
Employee, intending to be legally bound, hereby certifies and warrants that he has read carefully
this Agreement and has executed it voluntarily and with full knowledge and understanding of its
significance, meaning and binding effect. Employee further declares that he is competent to
understand the content and effect of this Agreement.

12. Consideration for This Agreement. Employee further acknowledges that the
consideration recited in this Agreement is the sole and only consideration for this Agreement; that
such consideration is adequate and fair; and that no representations, promises or inducements have
been made by Exide, or any of its directors, officers, employees or agents other than as appear in
this Agreement.

13. Consultation with Legal Counsel. Exide advises Employee that he has the
opportunity to consult with an independent attorney of his choosing before deciding whether to sign
this Agreement. By signing this Agreement, Employee represents that he has exercised his right to
consult with an attorney of his choosing to the full extent Employee felt necessary.

14. Consideration Period.

	(a)	 	Other than with respect to Claims under The Age Discrimination in Employment Act (“ADEA
Claims”), Employee acknowledges that he has been provided with adequate time to consider
and consult with legal counsel regarding the terms of this Agreement from the date this
Agreement was first presented to him.

	(b)	 	With respect to ADEA Claims, Employee acknowledges that he has been provided with a period of
twenty-one (21) days to consider the terms of this Agreement from the date this Agreement was
first presented to him, although he may sign it sooner. Employee agrees that any changes to
this Agreement, whether material or immaterial, will not restart the running of the 21-day
period. Employee agrees to notify Exide of his acceptance of this Agreement by delivering a
signed copy to Office of the General Counsel, 13000 Deerfield Parkway, Building 100W Milton,
GA 30004, no later than the 21st day after he first receives this Agreement. Employee may, if
he chooses, sign and return this Agreement before the 21-day consideration period expires, but
if Employee does so, Employee agrees and acknowledges that his decision to do so was
voluntary, knowing, and not induced by any fraud, misrepresentation, or threat to withdraw or
alter the offer described in this Agreement.

15. Effectiveness; ADEA Revocation Period.

	(a)	 	Other than with respect to ADEA Claims, the general release of claims contained in Section 6
of this Agreement shall be fully effective and enforceable upon the execution thereof by
Employee.

	(b)	 	With respect to ADEA Claims, Employee acknowledges that he shall have seven (7) days after
signing this Agreement to revoke it if he chooses to do so. If Employee elects to revoke this
Agreement, he shall give written notice of such revocation to Office of the General Counsel,
13000 Deerfield Parkway, Building 100W Milton, GA 30004, in such a manner that it is actually
received at that address within the seven (7) day period. Employee understands that if he
exercises his right to revoke the release of ADEA Claims under this Agreement, he will have no
right to receive the fourth installment of seventy-five thousand dollars ($75,000) described
in Section 3 above. The release of ADEA Claims under this Agreement will not become
enforceable until the day after the expiration of the Revocation Period without any revocation
by Employee (the “Effective Date”).

16. Certification of Understanding. Employee, intending to be legally bound hereby,
certifies and warrants that he has read carefully this Agreement and has executed it voluntarily
and with full knowledge and understanding of its significance, meaning and binding effect.
Employee further declares that he is competent to understand the content and effect of this
Agreement. Employee further agrees that he has sought advice regarding this Agreement to the extent
he wishes to do so.

17. Integration; No Oral Modifications. Except as expressly provided herein, this
Agreement contains the entire understanding between Exide and Employee with respect to the subject
matter hereof, and supersedes all verbal and written agreements, and there are no other agreements,
discussions, negotiations, proposals, representations, warranties or other understandings of or
between the parties with respect to such subject matter. In deciding to sign this Agreement,
Employee has not relied upon, and is not relying upon, any statements, promises, or representations
made by any employee, agent, or representative of Exide that are not expressly set forth herein.
The terms of this Agreement cannot be changed except in a later document signed by both Employee
and an authorized officer of Exide.

18. Non-Disparagement. Employee agrees to refrain from making any derogatory or
defamatory remarks or comments that disparage Exide or any of its officers, directors, employees,
agents, products or services. Employee shall not take any action or provide information or issue
statements, to the media or otherwise, or cause anyone else to take any action or provide
information or issue statements, to the media or otherwise, regarding Exide or any of its officers,
directors, employees, agents, products or services.

19. Governing Law. Except to the extent superseded by federal law (e.g., ERISA and
title 11 of chapter 11 of the United States Code), this Agreement shall be governed, interpreted
and applied according to the laws and judicial decisions of the State of Georgia, without regard to
the application of any choice-of-law rules that would result in the application of another state’s
laws.

20. Jurisdiction. In the event that Exide or Employee breach this Agreement, such that
it becomes necessary for Exide or Employee to seek injunctive or other relief, the parties agree
that jurisdiction for such litigation shall be in the State of Georgia. The parties further agree
to submit to jurisdiction in the State of Georgia and hereby agree that they are subject to service
of process issued from or in the State of Georgia.

21. Dispute Resolution. Any and all disputes, controversies or claims between
Employee and the Exide Releasees, related in any way to Employee’s employment or resignation from
employment with Exide, except for claims for injunctive relief based on an actual or threatened
breach of Sections 6, 7, 8, 9 and 18 of this Agreement or actual or threatened irreparable harm to
Employee, shall be resolved exclusively by final and binding arbitration; provided,
however, that nothing in this Agreement shall require arbitration of any disputes,
controversies or claims that, by law, cannot be the subject of a compulsory arbitration agreement.
The arbitration shall be subject to the Federal Arbitration Act and shall be administered by and
conducted pursuant to the JAMS Employment Arbitration Rules and Procedures then in effect
(available online at www.jamsadr.com). Any arbitration proceeding brought under this
Agreement shall be conducted before one arbitrator in Atlanta, Georgia, or such other city to which
the parties mutually agree. The arbitrator shall be selected in accordance with the JAMS Rules,
provided that the arbitrator shall be an attorney with significant experience in employment
matters. Each party to any dispute shall pay its own expenses, including attorneys’ fees. The
arbitrator shall be required to follow the laws of the State of Georgia. The decision of the
arbitrator(s) shall be final and may be recorded as a judgment in a court of competent
jurisdiction.

22. Miscellaneous.

	(a)	 	This Agreement shall be interpreted in accordance with the plain meaning of its terms and not
strictly for or against any party.

	(b)	 	Either party’s failure to insist upon strict compliance with any provision of this Agreement,
or its failure to assert any right it may have hereunder, will not be deemed to be a waiver of
such provision or right or any other provision or right of this Agreement.

	(c)	 	If any term, condition, or provision of this Agreement is construed by a court of competent
jurisdiction to be invalid, void, unreasonable or unenforceable for any reason, such term,
condition, or provision shall be deemed to be severable from the remainder of this Agreement
and shall not cause the invalidity or unenforceability of the remainder of this Agreement.  In
addition, any such severed term, condition, or provision shall be replaced with a term,
condition, or provision that is valid and enforceable and that comes closest to expressing the
intention of the invalid term, condition or provision.

	(d)	 	All payments made pursuant to Section 1 of this Agreement are subject to all federal, state
and local withholdings taxes and required and authorized deductions.

	(e)	 	The Company acknowledges that all compensatory payments made to Employee within the one-year
period prior to the Chapter 11 Filing were made in the ordinary course of business consistent
with past practice.

IN WITNESS WHEREOF, Employee and Exide have executed this Agreement as of the dates set forth below
with respect all terms other than the release of ADEA Claims.

	 	 	 
	James R. Bolch	 	Jack Reilly, Chairman of the Board of Directors
	/s/ James R. Bolch

Signature

Date:      , 2013

	 	/s/ Jack Reilly

Signature

Date:      , 2013

IN WITNESS WHEREOF, Employee and Exide have executed this Agreement as of the dates set forth
below with respect to the release of ADEA Claims.

	 	 	 
	James R. Bolch	 	Jack Reilly, Chairman of the Board of Directors
	/s/ James R. Bolch

Signature

Date:      , 2013

	 	/s/ Jack Reilly

Signature

Date:      , 2013

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