Exhibit 10.2

 

FIRST AMENDMENT TO
U.S. GUARANTEE AGREEMENT

 

THIS FIRST AMENDMENT TO U.S. GUARANTEE AGREEMENT (this “Amendment”) is made as
of April 30, 2013, among SEAGATE TECHNOLOGY PUBLIC LIMITED COMPANY, an Irish
public limited company (“STX”), SEAGATE HDD CAYMAN, an exempt limited liability
company organized under the laws of the Cayman Islands (the “Borrower”) each of
the Subsidiaries of STX listed on Schedule I to the Existing U.S. Guarantee
Agreement (as defined below) (each such Subsidiary individually referred to as 
a “Subsidiary,” and collectively referred to as the “Subsidiaries,” and each
such Subsidiary, the Borrower and STX collectively referred to as  the
“Guarantors”), and THE BANK OF NOVA SCOTIA, as administrative agent (in such
capacity, the “Administrative Agent”) for the Secured Parties (as defined in the
Credit Agreement referred to below).

 

WHEREAS, pursuant to the Credit Agreement, dated as of January 18, 2011 (as
amended on August 31, 2011 and as further amended, supplemented, amended and
restated, or otherwise modified prior to the date hereof, the “Existing Credit
Agreement”), among STX, the Borrower, the Lenders and The Bank of Nova Scotia as
the Administrative Agent), the Lenders have extended Loans to the Borrower;

 

WHEREAS, the Borrower has requested that the Existing Credit Agreement be
amended in certain respects as further set forth in an amendment, dated as of
the date hereof (the “Second Amendment”);

 

WHEREAS, the Guarantors and the Administrative Agents have entered into a U.S.
Guarantee Agreement, dated as of January 18, 2011 (the “Existing U.S. Guarantee
Agreement”); and

 

WHEREAS, as a condition precedent to the effectiveness of the Second Amendment,
the Guarantors are required to execute and deliver this Amendment;

 

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency
of which is hereby acknowledged, the parties hereto hereby agree as follows:

 

ARTICLE I
DEFINITIONS

 

SECTION 1.1.    CREDIT AGREEMENT DEFINED TERMS.  UNLESS OTHERWISE DEFINED HEREIN
OR THE CONTEXT OTHERWISE REQUIRES, TERMS DEFINED IN THE CREDIT AGREEMENT AND
USED IN THIS AMENDMENT SHALL HAVE THE MEANINGS GIVEN TO THEM IN THE CREDIT
AGREEMENT.

 

1

--------------------------------------------------------------------------------

 

ARTICLE II
AMENDMENT

 

SECTION 2.1.  SECTION 2 OF THE EXISTING U.S. GUARANTEE AGREEMENT IS AMENDED IN
ACCORDANCE WITH SECTION 2.1.1.

 

SECTION 2.1.1.  SECTION 2 IS AMENDED BY ADDING THE FOLLOWING TEXT AFTER THE LAST
SENTENCE IN SUCH SECTION:

 

Each Qualified ECP Guarantor hereby jointly and severally absolutely,
unconditionally and irrevocably undertakes to provide such funds or other
support as may be needed from time to time by each other Guarantor to honor all
of its obligations under this Guaranty in respect of Swap Obligations (provided,
however, that each Qualified ECP Guarantor shall only be liable under this
Section for the maximum amount of such liability that can be hereby incurred
without rendering its obligations under this Section or otherwise under this
Guaranty, voidable under applicable law relating to fraudulent conveyance or
fraudulent transfer, and not for any greater amount).  The obligations of each
Qualified ECP Guarantor under this Section shall remain in full force and effect
until the Termination Date has occurred. Each Qualified ECP Guarantor intends
that this Section constitute, and this Section shall be deemed to constitute, a
cross-guaranty for the benefit of each other Guarantor for purposes of
Section 1a(18)(A)(v)(II) of the Commodity Exchange Act.

 

SECTION 2.2.  SECTION 3 OF THE EXISTING U.S. GUARANTEE AGREEMENT IS AMENDED IN
ACCORDANCE WITH SECTION 2.2.1.

 

SECTION 2.2.1.  SECTION 3 IS AMENDED IN ITS ENTIRETY TO READ AS FOLLOWS:

 

SECTION 3.    Security.  Each of the Guarantors authorizes the Administrative
Agent and each of the other Secured Parties to release or substitute any one or
more endorsees, other Guarantors or other obligors.

 

SECTION 2.3.  SECTION 15 OF THE EXISTING U.S. GUARANTEE AGREEMENT IS AMENDED IN
ACCORDANCE WITH SECTION 2.3.1.

 

SECTION 2.3.1.  CLAUSE (B) OF SECTION 15 IS AMENDED BY ADDING THE FOLLOWING
SENTENCE AT THE END OF SUCH CLAUSE:

 

If any portion of the guaranty hereunder is unenforceable with respect to Swap
Obligations because a Guarantor does not qualify as a Qualified ECP Guarantor,
then only that portion of such Swap Obligations shall not be guaranteed
hereunder, and the remaining Obligations shall continue to be guaranteed by each
Guarantor pursuant to the terms of this Agreement.

 

SECTION 2.4.  SECTION 21 OF THE EXISTING U.S. GUARANTEE AGREEMENT IS AMENDED IN
ACCORDANCE WITH SECTION 2.4.1.

 

2

--------------------------------------------------------------------------------

 

SECTION 2.4.1.  SECTION 21 IS AMENDED BY ADDING THE FOLLOWING SENTENCE AT THE
END OF SUCH SECTION:

 

Notwithstanding the foregoing, no amounts set off with respect to any Guarantor
shall be applied to any Excluded Swap Obligations of such Guarantor.

 

ARTICLE III
CONDITIONS TO EFFECTIVENESS

 

SECTION 3.1.1.  EFFECTIVENESS.  THIS AMENDMENT SHALL BECOME EFFECTIVE WHEN THE
ADMINISTRATIVE AGENT SHALL HAVE RECEIVED COPIES OF THIS AMENDMENT, DULY EXECUTED
AND DELIVERED BY AN AUTHORIZED OFFICER OR REPRESENTATIVE OF EACH GUARANTOR, AND
ON BEHALF OF  THE ADMINISTRATIVE AGENT.

 

ARTICLE IV
MISCELLANEOUS PROVISIONS

 

SECTION 4.1.  EFFECT OF AMENDMENT.  THE PARTIES HERETO AGREE AS FOLLOWS:

 

(a)  THIS AMENDMENT SHALL NOT CONSTITUTE AN AMENDMENT OR WAIVER OF OR CONSENT TO
ANY PROVISION OF ANY LOAN DOCUMENT NOT EXPRESSLY REFERRED TO HEREIN, AND SHALL
NOT BE CONSTRUED AS AN AMENDMENT, WAIVER, OR CONSENT TO ANY ACTION ON THE
PART OF A GUARANTOR THAT WOULD REQUIRE AN AMENDMENT, WAIVER, OR CONSENT OF THE
ADMINISTRATIVE AGENT OR THE LENDERS UNDER ANY OF THE LOAN DOCUMENTS EXCEPT AS
EXPRESSLY STATED HEREIN.  EXCEPT AS EXPRESSLY AMENDED HEREBY, THE PROVISIONS OF
THE EXISTING GUARANTEE AGREEMENT SHALL REMAIN UNCHANGED AND SHALL CONTINUE TO
BE, AND SHALL REMAIN, IN FULL FORCE AND EFFECT IN ACCORDANCE WITH THEIR
RESPECTIVE TERMS.

 

(b)  ON AND AFTER THE SECOND AMENDMENT EFFECTIVE DATE, EACH REFERENCE IN THE
EXISTING U.S. GUARANTEE AGREEMENT TO “THIS AGREEMENT,” “HEREUNDER,” “HEREOF,”
“HEREIN,” OR WORDS OF LIKE IMPORT, AND EACH REFERENCE TO THE EXISTING U.S.
GUARANTEE AGREEMENT IN ANY OTHER LOAN DOCUMENT, SHALL BE DEEMED A REFERENCE TO
THE EXISTING U.S. GUARANTEE AGREEMENT AS AMENDED HEREBY.  THIS AMENDMENT,
EXECUTED PURSUANT TO THE EXISTING U.S. GUARANTEE AGREEMENT, SHALL CONSTITUTE A
“LOAN DOCUMENT” FOR ALL PURPOSES OF THE CREDIT AGREEMENT AND THE OTHER LOAN
DOCUMENTS AND SHALL BE CONSTRUED, ADMINISTERED AND APPLIED IN ACCORDANCE WITH
ALL OF THE TERMS AND PROVISIONS OF THE CREDIT AGREEMENT.

 

3

--------------------------------------------------------------------------------

 

SECTION 4.2.  FEES AND EXPENSES.  THE BORROWER AGREES TO REIMBURSE THE
ADMINISTRATIVE AGENT FOR ITS REASONABLE AND DOCUMENTED OUT-OF-POCKET EXPENSES IN
CONNECTION WITH THIS AMENDMENT, INCLUDING THE REASONABLE FEES, CHARGES AND
DISBURSEMENTS OF COUNSEL FOR THE ADMINISTRATIVE AGENT.

 

SECTION 4.3.  SUCCESSORS AND ASSIGNS.  THIS AMENDMENT SHALL BE BINDING UPON AND
INURE TO THE BENEFIT OF THE PARTIES HERETO AND THEIR RESPECTIVE SUCCESSORS AND
ASSIGNS.

 

SECTION 4.4.  HEADINGS.  THE HEADINGS OF THIS AMENDMENT ARE FOR PURPOSES OF
REFERENCE ONLY AND SHALL NOT LIMIT OR OTHERWISE AFFECT THE MEANING HEREOF.

 

SECTION 4.5.  COUNTERPARTS.  THIS AMENDMENT MAY BE EXECUTED BY ONE OR MORE OF
THE PARTIES TO THIS AMENDMENT ON ANY NUMBER OF SEPARATE COUNTERPARTS (INCLUDING
BY FACSIMILE OR ELECTRONIC COPY), EACH OF WHICH WHEN SO EXECUTED AND DELIVERED
SHALL BE DEEMED AN ORIGINAL AND ALL OF SAID COUNTERPARTS TAKEN TOGETHER SHALL BE
DEEMED TO CONSTITUTE ONE AND THE SAME INSTRUMENT.

 

SECTION 4.6.  GOVERNING LAW.  THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED
IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

 

4

--------------------------------------------------------------------------------

 

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

 

 

 

SEAGATE HDD CAYMAN

 

 

 

 

 

By:

/s/ PATRICK O’MALLEY, III

 

 

Name: Patrick O’Malley, III

 

 

Title: Executive Vice President & Chief
Financial Officer

 

 

 

 

 

 

 

By:

/s/ KENNETH MASSARONI

 

 

Name: Kenneth Massaroni

 

 

Title: Executive Vice President, General
Counsel, and Chief Administrative Officer

 

5

--------------------------------------------------------------------------------

 

GIVEN under the Common Seal of

SEAGATE TECHNOLOGY PUBLIC LIMITED COMPANY

in the presence of:

 

 

By:

/s/ KENNETH MASSARONI

 

 

AUTHORIZED OFFICER

 

 

 

Witness signature:

/s/ KITINA SCHNEIDER

 

Name:

Kitina Schneider

Address:

10200 S. De Anza Blvd., Cupertino, CA 95014

Occupation:

Paralegal

 

6

--------------------------------------------------------------------------------

 

 

SEAGATE TECHNOLOGY

 

 

 

 

 

By:

/s/ PATRICK O’MALLEY, III

 

 

Name: Patrick O’Malley, III

 

 

Title: Chief Financial Officer

 

 

 

 

 

 

 

By:

/s/ KENNETH MASSARONI

 

 

Name: Kenneth Massaroni

 

 

Title: Chief Administrative Officer

 

7

--------------------------------------------------------------------------------

 

 

SEAGATE TECHNOLOGY HDD HOLDINGS

 

 

 

 

 

By:

/s/ PATRICK O’MALLEY, III

 

 

Name: Patrick O’Malley, III

 

 

Title: Chief Financial Officer

 

 

 

 

 

 

 

By:

/s/ KENNETH MASSARONI

 

 

Name: Kenneth Massaroni

 

 

Title: Chief Administrative Officer

 

8

--------------------------------------------------------------------------------

 

 

SEAGATE TECHNOLOGY INTERNATIONAL

 

 

 

 

 

By:

/s/ PATRICK O’MALLEY, III

 

 

Name: Patrick O’Malley, III

 

 

Title: Chief Financial Officer

 

 

 

 

 

 

 

By:

/s/ KENNETH MASSARONI

 

 

Name: Kenneth Massaroni

 

 

Title: General Counsel & Secretary

 

9

--------------------------------------------------------------------------------

 

 

SEAGATE TECHNOLOGY (IRELAND)

 

 

 

 

 

By:

/s/ PATRICK O’MALLEY, III

 

 

Name: Patrick O’Malley, III

 

 

Title: Director

 

 

 

 

 

 

 

By:

/s/ KENNETH MASSARONI

 

 

Name: Kenneth Massaroni

 

 

Title: Director

 

10

--------------------------------------------------------------------------------

 

 

MAXTOR GLOBAL LTD.

 

 

 

 

 

By:

/s/ PATRICK O’MALLEY, III

 

 

Name: Patrick O’Malley, III

 

 

Title: President

 

 

 

 

 

 

 

By:

/s/ KENNETH MASSARONI

 

 

Name: Kenneth Massaroni

 

 

Title: Vice President

 

11

--------------------------------------------------------------------------------

 

 

SEAGATE INTERNATIONAL (JOHOR) SDN. BHD.

 

 

 

 

 

By:

/s/ LAI CHUN CHEONG

 

Name: Lai Chun Cheong

 

Title: Director

 

 

 

 

 

By:

/s/ RICKY CHONG

 

Name: Ricky Chong

 

Title: Director

 

12

--------------------------------------------------------------------------------

 

 

SEAGATE TECHNOLOGY (THAILAND) LIMITED

 

 

 

 

 

By:

/s/ PATRICK O’MALLEY, III

 

 

Name: Patrick O’Malley, III

 

 

Title: Director

 

 

 

 

 

 

 

By:

/s/ JEFF NYGAARD

 

 

Name: Jeff Nygaard

 

 

Title: Director

 

13

--------------------------------------------------------------------------------

 

 

PENANG SEAGATE INDUSTRIES (M) SDN. BHD.

 

 

 

 

 

By:

/s/ PATRICK O’MALLEY, III

 

 

Name: Patrick O’Malley, III

 

 

Title: Director

 

14

--------------------------------------------------------------------------------

 

 

SEAGATE SINGAPORE INTERNATIONAL HEADQUARTERS PTE. LTD.

 

 

 

 

 

By:

/s/ PATRICK O’MALLEY, III

 

 

Name: Patrick O’Malley, III

 

 

Title: Director

 

 

 

 

 

 

 

By:

/s/ KENNETH MASSARONI

 

 

Name: Kenneth Massaroni

 

 

Title: Executive Vice President

 

15

--------------------------------------------------------------------------------

 

 

SEAGATE TECHNOLOGY (US) HOLDINGS, INC.

 

 

 

 

 

By:

/s/ PATRICK O’MALLEY, III

 

 

Name: Patrick O’Malley, III

 

 

Title: Executive Vice President & Chief
Financial Officer

 

 

 

 

 

 

 

By:

/s/ KENNETH MASSARONI

 

 

Name: Kenneth Massaroni

 

 

Title: General Counsel

 

16

--------------------------------------------------------------------------------

 

 

EVAULT, INC.

 

 

 

 

 

By:

/s/ PATRICK O’MALLEY, III

 

 

Name: Patrick O’Malley, III

 

 

Title: Chief Financial Officer

 

 

 

 

 

 

 

By:

/s/ KENNETH MASSARONI

 

 

Name: Kenneth Massaroni

 

 

Title: Secretary

 

17

--------------------------------------------------------------------------------

 

 

SEAGATE TECHNOLOGY LLC

 

 

 

 

 

By:

/s/ PATRICK O’MALLEY, III

 

 

Name: Patrick O’Malley, III

 

 

Title: Executive Vice President & Chief
Financial Officer

 

 

 

 

 

 

 

By:

/s/ KENNETH MASSARONI

 

 

Name: Kenneth Massaroni

 

 

Title: Chief Administrative Officer

 

18

--------------------------------------------------------------------------------

 

 

SEAGATE BUSINESS CENTRE (UK) LIMITED

 

 

 

 

 

By:

/s/ PATRICK O’MALLEY, III

 

 

Name: Patrick O’Malley, III

 

 

Title: Director

 

 

 

 

 

 

 

By:

/s/ KENNETH MASSARONI

 

 

Name: Kenneth Massaroni

 

 

Title: Director

 

19

--------------------------------------------------------------------------------

 

 

SEAGATE KOREA LTD

 

 

 

 

 

By:

/s/ PATRICK O’MALLEY, III

 

 

Name: Patrick O’Malley, III

 

 

Title: Director

 

 

 

 

 

 

 

By:

/s/ KENNETH MASSARONI

 

 

Name: Kenneth Massaroni

 

 

Title: Director

 

20

--------------------------------------------------------------------------------

 

 

SEAGATE TECHNOLOGY MEDIA (IRELAND)

 

 

 

 

 

By:

/s/ PATRICK O’MALLEY, III

 

 

Name: Patrick O’Malley, III

 

 

Title: President

 

 

 

 

 

 

 

By:

/s/ KENNETH MASSARONI

 

 

Name: Kenneth Massaroni

 

 

Title: Secretary

 

21

--------------------------------------------------------------------------------

 

 

THE BANK OF NOVA SCOTIA, as Administrative Agent

 

 

 

 

 

By:

/s/ EUGENE DEMPSEY

 

 

Name: Eugene Dempsey

 

 

Title: Director

 

22

--------------------------------------------------------------------------------