Exhibit 10.1

SECOND AMENDMENT TO CREDIT AGREEMENT

This Second Amendment to Credit Agreement (this “Amendment”) is entered into as
of April 2, 2012, among Compass Group Diversified Holdings LLC, a Delaware
limited liability company (“Borrower”), Toronto Dominion (Texas) LLC, as Agent
for the Lenders, and the undersigned Lenders.

W I T N E S S E T H

WHEREAS, Borrower, Lenders and Agent are parties to that certain Credit
Agreement dated as of October 27, 2011 (as amended to date, the “Credit
Agreement”; capitalized terms used herein and not otherwise defined herein shall
have the respective meanings given to them in the Credit Agreement);

WHEREAS, Borrower has requested that the Lenders holding portions of the Term
Loan agree to amend the Credit Agreement in certain respects;

NOW, THEREFORE, in consideration of the mutual agreements, provisions and
covenants contained herein, the parties hereto agree as follows:

1. Amendments to Credit Agreement. Subject to the terms and conditions contained
herein, the parties hereto hereby agree to amend the Credit Agreement as
follows:

(a) The first paragraph of the definition of “Applicable Margin” in Section 1.1
of the Credit Agreement is hereby amended and restated in its entirety as
follows:

“With respect to the Term Loan, the Applicable Margin shall mean (i) 4.00%, in
the case of the portion of the Term Loan comprised of Base Rate Loans and
(ii) 5.00%, in the case of the portion of the Term Loan comprised of LIBOR
Loans.”

(b) The proviso to the definition of “LIBOR Rate” in Section 1.1 of the Credit
Agreement is hereby amended by replacing each reference therein to “1.50%” with
a reference to “1.25%”.

(c) Section 2.10.1 of the Credit Agreement is hereby amended by replacing the
reference therein to “October 27, 2012” with a reference to “the first
anniversary of the date of effectiveness of that certain Second Amendment to
this Agreement, dated as of April 2, 2012, among Borrower, the Agent and certain
Lenders,”

2. Representations and Warranties of Borrower. Borrower hereby represents and
warrants to Agent and Lenders that, both before and after giving effect to this
Amendment:

(a) The execution, delivery and performance of this Amendment has been duly
authorized by all requisite corporate action on the part of Borrower;

(b) No Default or Event of Default has occurred and is continuing; and

(c) The representations and warranties of Borrower set forth in the Credit
Agreement, as amended hereby, and in the other Loan Documents, as amended
hereby, are true and correct in all material respects as of the date hereof,
with the same effect as though made on the date hereof (except to the extent
such representations and warranties expressly refer to an earlier date, in which
case they are true and correct in all material respects as of such earlier
date).

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3. Conditions Precedent to Effectiveness. This Amendment shall become effective
on the date when each of the following conditions shall have been fulfilled to
the satisfaction of the Agent:

(a) Agent shall have received a copy of this Amendment executed by Borrower,
Agent and each Lender holding a portion of the Term Loan, together with such
other documents, agreements and instruments as Agent may reasonably require or
request in connection herewith;

(b) Borrower shall have paid to each Lender a fully earned, non-refundable fee
in an amount equal to 1.00% of the outstanding portion of the Term Loan owed to
such Lender; and

(c) no Default or Event of Default shall have occurred and be continuing or
shall be caused by the transactions contemplated by this Amendment.

4. Miscellaneous.

(a) Governing Law. THIS AMENDMENT SHALL BE A CONTRACT MADE UNDER AND GOVERNED BY
THE INTERNAL LAWS OF THE STATE OF NEW YORK.

(b) Counterparts. This Amendment may be executed in any number of counterparts,
and by the parties hereto on the same or separate counterparts, and each such
counterpart, when executed and delivered, shall be deemed to be an original, but
all such counterparts shall together constitute but one and the same Amendment.

(c) Reference to Credit Agreement. Each reference in the Credit Agreement to
“this Agreement,” “hereunder,” “hereof,” “herein” or words of like import, and
each reference in the Credit Agreement or in any other Loan Document, or other
agreements, documents or other instruments executed and delivered pursuant to
the Credit Agreement, shall mean and be a reference to the Credit Agreement as
amended by this Amendment.

(d) Costs and Expenses. Borrower acknowledges that Section 10.4 of the Credit
Agreement applies to this Amendment and the transactions, agreements and
documents contemplated hereunder.

[Signature Page Follows]

 

2

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

 

COMPASS GROUP DIVERSIFIED HOLDINGS LLC By:  

/s/ James J. Bottiglieri

Title:  

Chief Financial Officer

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TORONTO DOMINION (TEXAS) LLC,

as Agent

By:  

/s/ Bebi Yasin

Title:  

Authorized Signatory

 

TD BANK, N.A., as a Lender By:  

/s/ Todd Antico

Title:  

Senior Vice President

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TORONTO DOMINION (TEXAS) LLC,

as a Lender

By:  

/s/ Bebi Yasin

Title:  

Authorized Signatory

AMMC VII, LIMITED

AMMC CLO IX, LIMITED

AMMC CLO X, LIMITED

 

    By:   American Money Management Corp.,       as Collateral Manager   as a
Lender

 

By:  

/s/ David P. Meyer

Name:  

David P. Meyer

Title:

 

Senior Vice President

 

ASF1 LOAN FUNDING LLC, as a Lender

/s/ Lynette Thompson

By:  

Lynette Thompson

Title:  

Director

 

AUDAX CREDIT OPPORTUNITIES OFFSHORE LTD.,

as a Lender

/s/ Michael P. McGonigle

By:

 

Michael P. McGonigle

Title:

 

Authorized Signatory

 

AUDAX CREDIT OPPORTUNITIES (SBA), LLC, as a Lender  

/s/ Michael P. McGonigle

By:  

Michael P. McGonigle

Title:  

Authorized Signatory

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BMO HARRIS FINANCING, INC., as a Lender

/s/ Katherine K. Robinson

By:  

Katherine K. Robinson

Title:  

Vice President

 

BRANCH BANKING AND TRUST COMPANY, as a Lender By:  

/s/ Steve W. Whitcomb

Title:  

Senior Vice President

 

/s/ Joe Morin

as a Lender By:  

Joe Morin

Title:  

Vice President – Canso Investment Counsel Ltd.

For:  

Conso Bank Loan Fund

BRIDGEPORT CLO LTD.

SCHILLER PARK CLO LTD.

BURR RIDGE CLO PLUS LTD.

BRIDGEPORT CLO II LTD.

 

By:    Deerfield Capital Management LLC, their Collateral Manager

 

By:  

/s/ Stephen J. Vaccaro

Name:  

Stephen J. Vaccaro

Title:  

Authorized Signatory

HEWETT’S ISLAND CLO V, LTD.

HEWETT’S ISLAND CLO VI, LTD.

PRIMUS CLO I, LTD.

PRIMUS CLO II, LTD.

 

By:    CypressTree Investment Management, LLC, their Collateral Manager

 

By:  

/s/ Stephen J. Vaccaro

Name:  

Stephen J. Vaccaro

Title:  

Authorized Signatory

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COLUMBUSNOVA CLO LTD. 2006-I

COLUMBUSNOVA CLO LTD. 2006-II

COLUMBUSNOVA CLO LTD. 2007-I

COLUMBUSNOVA CLO IV LTD. 2007

 

By:

   Columbus Nova Credit Investments

Management, LLC, its Collateral Manager

 

By:  

/s/ Stephen J. Vaccaro

Name:  

Stephen J. Vaccaro

Title:  

Authorized Signatory

CIFC FUNDING 2006-I, LTD.

CIFC FUNDING 2006-IB, LTD.

CIFC FUNDING 2006-II, LTD.

CIFC FUNDING 2007-I, LTD.

CIFC FUNDING 2007-II, LTD.

CIFC FUNDING 2007-III, LTD.

CIFC FUNDING 2007-IV, LTD.

CIFC FUNDING 2011-I, LTD.

 

By:

   CIFC Investment Management LLC,

its Collateral Manager

 

By:  

/s/ Stephen J. Vaccaro

Name:  

Stephen J. Vaccaro

Title:  

Authorized Signatory

 

FIFTH THIRD BANK, an Ohio banking corporation, as a Lender

/s/ Philip Renwick

By:  

Philip Renwick

Title:  

Vice President

GOLDENTREE LOAN OPPORTUNITIES III, LIMITED

 

By:

  GoldenTree Asset Management, LP,

as a Lender

By:

 

/s/ Karen Weber

Title:

 

Director – Bank Debt

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GOLDENTREE LOAN OPPORTUNITIES IV, LIMITED

 

By:   GoldenTree Asset Management, LP, as a Lender By:  

/s/ Karen Weber

Title:  

Director – Bank Debt

GOLDENTREE LOAN OPPORTUNITIES V, LIMITED

 

By:   GoldenTree Asset Management, LP, as a Lender By:  

/s/ Karen Weber

Title:  

Director – Bank Debt

THE UNIVERSITY OF CHICAGO

 

By: GoldenTree Asset Management, LP, as a Lender By:  

/s/ Karen Weber

Title:  

Director – Bank Debt

SC PRO LOAN II LIMITED

 

By:   GoldenTree Asset Management, LP, as a Lender By:  

/s/ Karen Weber

Title:  

Director – Bank Debt

SWISS CAPITAL PRO LOAN III PLC

 

By:   GoldenTree Asset Management, LP, as a Lender By:  

/s/ Karen Weber

Title:  

Director – Bank Debt

GOLUB INTERNATIONAL LOAN LTD. I,

as a Lender

 

By:   Golub Capital International Management LLC, as a Collateral Manager

/s/ Christina D. Jamieson

By:  

Christina D. Jamieson

Title:  

Authorized Signatory

 

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GOLUB CAPITAL MANAGEMENT CLO 2007-1, LTD,

as a Lender

 

By:   Golub Capital LLC, as a Collateral Manager

 

/s/ Christina D. Jamieson

By:  

Christina D. Jamieson

Title:  

Authorized Signatory

GOLUB CAPITAL PARTNERS FUNDING 2007-1 LTD.,

as a Lender

 

By:   Golub Capital Incorporated, as Servicer

/s/ Christina D. Jamieson

By:  

Christina D. Jamieson

Title:  

Authorized Signatory

GOLUB CAPITAL SENIOR LOAN OPPORTUNITY FUND, LTD.,

as a Lender

 

By:   GC Advisors LLC, as agent

/s/ Christina D. Jamieson

By:  

Christina D. Jamieson

Title:  

Authorized Signatory

GOLUB CAPITAL FUNDING CLO-8, LTD,

as a Lender

 

By:   Golub Capital Partners Management Ltd, as Collateral Manager

/s/ Christina D. Jamieson

By:  

Christina D. Jamieson

Title:  

Authorized Signatory

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GC ADVISORS LLC as Agent for United Insurance Company of America,

as a Lender

 

/s/ Christina D. Jamieson

By:  

Christina D. Jamieson

Title:  

Authorized Signatory

GOLUB CAPITAL BDC FUNDING LLC,

as a Lender

 

By:   GC Advisors LLC, as agent

/s/ Christina D. Jamieson

By:  

Christina D. Jamieson

Title:  

Authorized Signatory

GC ADVISORS LLC as Agent for Federal Insurance Company,

as a Lender

 

/s/ Christina D. Jamieson

By:  

Christina D. Jamieson

Title:  

Authorized Signatory

GOLUB CAPITAL PEARLS DIRECT LENDING PROGRAM, L.P.,

as a Lender

 

By:   GC Advisors LLC, its Manager

/s/ Christina D. Jamieson

By:  

Christina D. Jamieson

Title:  

Authorized Signatory

GOLUB CAPITAL PARTNERS CLO 10, LTD.,

as a Lender

 

By:   GC Advisors LLC, its Agent

/s/ Christina D. Jamieson

By:  

Christina D. Jamieson

Title:  

Authorized Signatory

GC ADVISORS LLC as Agent for Ironshore Specialty

Insurance Company,

as a Lender

 

/s/ Christina D. Jamieson

By:  

Christina D. Jamieson

Title:  

Authorized Signatory

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GC ADVISORS LLC as Agent for Lincoln Investment

Solutions, Inc.,

as a Lender

 

/s/ Christina D. Jamieson

By:  

Christina D. Jamieson

Title:  

Authorized Signatory

 

MADISON CAPITAL FUNDING LLC, as a Lender By:  

/s/ Kevin Bolash

Title:  

Kevin Bolash, Senior Vice President

VENTURE V CDO LIMITED,

as a Lender

 

By:   its investment advisor, MJX Asset Management, LLC By:  

/s/ Michael Regan

Title:  

Managing Director

VENTURE VI CDO LIMITED,

as a Lender

 

By:   its investment advisor, MJX Asset Management, LLC By:  

/s/ Michael Regan

Title:  

Managing Director

VENTURE VII CDO LIMITED,

as a Lender

 

By:   its investment advisor, MJX Asset Management, LLC By:  

/s/ Michael Regan

Title:  

Managing Director

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VENTURE VIII CDO, LIMITED,

as a Lender

 

By:   its investment advisor, MJX Asset Management, LLC By:  

/s/ Michael Regan

Title:  

Managing Director

VENTURE IX CDO, LIMITED,

as a Lender

 

By:   its investment advisor, MJX Asset Management, LLC By:  

/s/ Michael Regan

Title:  

Managing Director

 

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

/s/ Harry Comninellis

By:  

Harry Comninellis

Title:  

Authorized Signatory

NEWSTAR CP FUNDING LLC

 

By:   NewStar Financial, Inc., its Designated Manager By:  

/s/ Michael J. Faherty Jr.

Name:  

Michael J. Faherty Jr.

Title:  

Director

NEWSTAR CREDIT OPPORTUNITIES FUNDING II LTD.

 

By:   NewStar Financial, Inc., its Manager By:  

/s/ Michael J. Faherty Jr.

Name:  

Michael J. Faherty Jr.

Title:  

Director

NEWSTAR COMMERCIAL LOAN FUNDING 2012-1 LLC

 

By:   NewStar Financial, Inc., its Designated Manager By:  

/s/ Michael J. Faherty Jr.

Name:  

Michael J. Faherty Jr.

Title:  

Director

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NEWSTAR SHORT-TERM FUNDING LLC

 

By:   NewStar Financial, Inc., its Designated Manager By:  

/s/ Michael J. Faherty Jr.

Name:  

Michael J. Faherty Jr.

Title:  

Director

DAVIDSON RIVER TRADING, LLC,

as a Lender

 

By:   SunTrust Bank, its Manager By:  

/s/ Douglas Weltz

Title:  

Director

 

SUNTRUST BANK, as a Lender By:  

/s/ Christopher Fellows

Title:  

Portfolio Manager, Middle Market Banking

TELOS CLO 2006-1, LTD

TELOS CLO 2007-2, LTD

 

By:   Tricadia Loan Management, LLC By:  

/s/ Jonathan Tepper

Title:  

Jonathan Tepper, Director

 

U.S. BANK NATIONAL ASSOCIATION, as a Lender By:  

/s/ Jason Nadler

Title:  

Vice President

WEBSTER BANK,

as a Lender

 

By:  

/s/ Robert W. Towns

Title:  

Senior Vice President