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AMENDMENT NUMBER TWO
TO
AMENDED AND RESTATED CREDIT AGREEMENT

    THIS AMENDMENT NUMBER TWO TO AMENDED AND RESTATED CREDIT AGREEMENT (the
"Amendment") is made as of May 30, 2001, by and among BANK OF AMERICA, N.A., a
national banking association, U.S. BANK NATIONAL ASSOCIATION, a national banking
association, KEYBANK NATIONAL ASSOCIATION, a national banking association (the
"Lenders"), BANK OF AMERICA, N.A., as agent for the Lenders (the "Agent"); and
FLOW INTERNATIONAL CORPORATION, a Washington corporation ("Borrower").

RECITALS

    A.  Lenders, Agent and Borrower are parties to that certain Amended and
Restated Credit Agreement dated as of December 29, 2000, as amended by that
certain First Amendment to the Amended and Restated Credit Agreement dated as of
February 28, 2001 (the "Credit Agreement").

    B.  Borrower intends to enter into the sale of senior subordinated notes
with detachable warrants that would be subordinated to the Senior Funded Debt
under the Credit Agreement.

    NOW, THEREFORE, the parties hereto agree as follows:

AGREEMENT

    1.  Definitions. Capitalized terms not otherwise defined in this Amendment
shall have the meaning set forth in the Credit Agreement.

    2.  Amendment to definition of "Applicable Percentage". Section 1.1 is
hereby amended by deleting the matrix in the definition of "Applicable
Percentage" and replacing it with the following:

Pricing Level

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  Applicable Percentage with respect to the LIBOR Rate or Multi-Currency Rate

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  Applicable Percentage with respect to the Unused Portion

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I   1.30%   25 basis points II   1.40%   25 basis points III   1.50%   25 basis
points IV   2.50%   37.5 basis points

    3.  Amendment to definition of "Base Rate". The definition of Base Rate is
hereby deleted entirely and replaced with the following:

"Base Rate" means the prime rate. (The "prime rate" is a rate set by Bank of
America based upon various factors including Bank of America's costs and desired
return, general economic conditions and other factors, and is used as a
reference point for pricing some loans, which may be priced at, above, or below
such announced rate.) Any change in the prime rate announced by Bank of America
shall take effect at the opening of business on the day specified in the public
announcement of such change.

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    4.  Amendment to definition of "Pricing Level". Section 1.1 is hereby
amended by deleting the matrix in the definition of "Pricing Level" and
replacing it with the following:

Pricing Level

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  Senior Funded Debt Ratio as of the end of
the previous fiscal quarter

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I   Less than 1.00:1 II   Equal to or greater than 1.00:1 and less than 2.00:1
III   Equal to or greater than 2.00:1 and less than 3.00:1 IV   Equal to or
greater than 3.00:1

    5.  Amendment to definition of "Senior Funded Debt". Section 1.1 is hereby
amended by deleting the definition of "Senior Funded Debt" entirely and
replacing it with the following:

"Senior Funded Debt" means, (i) for the fiscal quarter ending as at April 30,
2001, the sum of Funded Debt less thirty-five million dollars ($35,000,000.00);
and (ii) for any fiscal quarter ending as at July 31, 2001 and thereafter, the
sum of Funded Debt less the unpaid principal amount of the Senior Subordinated
Notes, each as of the end of such fiscal quarter.

    6.  Addition of definition of "Senior Subordinated Notes". Section 1.1 is
hereby amended by adding the definition of "Senior Subordinated Notes as
follows:

"Senior Subordinated Notes" means the "Notes" issued in connection with, and as
defined in, the Subordinated Note Purchase Agreement, as approved by the Lenders
and Agent.

    7.  Deletion of definition of "Senior Unsecured Debt". Section 1.1 is hereby
amended by deleting the definition of "Senior Unsecured Debt".

    8.  Deletion of definition of "Subordinated Debt". Section 1.1 is hereby
amended by deleting the definition of "Subordinated Debt".

    9.  Addition of definition of "Subordinated Note Purchase Agreement".
Section 1.1 is hereby amended by adding the following definition:

"Subordinated Note Purchase Agreement" means, collectively, the agreements
providing for the purchase of an aggregate principal amount of $35,000,000 of
the Borrower's 13% Senior Subordinated Notes due April 30, 2008 and Warrants to
Purchase Common Stock between Borrower and the Purchasers identified therein.

    10. Amendment to Section 6.13. Section 6.13 is hereby amended by deleting
the first sentence and replacing it with the following:

As of the end of each fiscal quarter, Borrower shall maintain, on a consolidated
basis, a Funded Debt Ratio of not more than 4.50 to 1.

    11. Amendment to Section 6.14. Section 6.14 is hereby amended by deleting
the last sentence and replacing it with the following:

"Minimum Net Worth" shall mean $27,800,000, plus cumulative quarterly increases
equal to fifty percent (50%) of Borrower's net income for all fiscal quarters
ending on or after July 31, 1999, excluding any adjustments thereto for losses,
plus all amounts contributed to Borrower as outside capital investments at any
time after September 1, 1999.

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    12. Amendment to Section 6.15. Section 6.15 is hereby amended by deleting
the last sentence and replacing it with the following:

As used herein, "Debt" shall mean, on a consolidated basis, all liabilities of
Borrower as determined and computed in accordance with GAAP other than the
Senior Subordinated Notes, and for clarification purposes only, minority
interests.

    13. Amendment to Section 6.17. Section 6.17 is hereby amended by deleting
subclauses (d) and (e) entirely and replacing them with the following:

(d)  3.50 to 1 as at the fiscal quarters ending April 30, 2001, July 31, 2001
and October 30, 2001; (e) 3.25 to 1 as at the fiscal quarters ending January 31,
2002 and April 30, 2002; and (f) 3.00 to 1 as at the fiscal quarters ending
July 31, 2002 and thereafter.

    14. Amendment to Section 7.3(f). Section 7.3(f) is hereby deleted entirely
and replaced with the following:

(f)  Senior Subordinated Notes, the principal of which when taken together does
not exceed, in the aggregate, at any one time outstanding, Thirty-Five Million
Dollars ($35,000,000), and

    15. Amendment to Section 7.4. Section 7.4 is hereby deleted entirely and
replaced with the following:

Except for the guaranties set forth on Schedule 4 hereto or the fully
subordinated guaranties delivered pursuant to Section 9.10 of the Subordinated
Note Purchase Agreement or as set forth on Schedule 10.5 of the Subordinated
Note Purchase Agreement, neither Borrower nor any Guarantor shall assume,
guaranty, endorse or otherwise become directly or contingently liable for, or
obligated to purchase, pay or provide funds for payment of, any obligation or
Indebtedness of any other person, other than by endorsement of negotiable
instruments for deposit or collection or by similar transactions in the ordinary
course of business.

    16. Amendment to Section 7.9. Section 7.9 is hereby amended by deleting it
entirely and replacing it with the following:

Section 7.9 Senior Subordinated Notes. Borrower shall maintain no funds on
deposit with, shall not acquire any certificates of deposit or other financial
instruments from, nor hold any Indebtedness owing to Borrower by, any holder of
any Senior Subordinated Note unless such holder shall first have executed a
written agreement in favor of Lenders (in form and substance acceptable to
Lenders) subordinating or waiving its rights to set-off or to assert any
"bankers lien."

    17. Amendment to Section 8.1. Section 8.1 is hereby amended by adding the
following as a new subsection (n):

(n)  Prepayment of Principal Default. Borrower shall pay any portion of the
principal of the Senior Subordinated Notes before April 30, 2004.

    18. Amendment Fee to Bank of America and U.S. Bank. Borrower shall pay to
Agent for the benefit of Bank of America, a fee in the amount of 10 basis points
of such Lender's Pro Rata Share of the Total Revolving Commitment and Borrower
shall pay to Agent for the benefit of U.S. Bank, a fee in the amount of 10 basis
points of such Lender's Pro Rata Share of the Total Revolving Commitment (such
fees being collectively referred to as the "Amendment Fee"). KeyBank shall not
be entitled to any portion of the Amendment Fee. Borrower's obligation to pay
the Amendment Fee under this Section 18 shall constitute an amount payable under
the Credit Agreement for the purpose of Section 8.1(a) thereof.

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    19. Conditions to Effectiveness. This Amendment shall become effective when:
(i) Borrower has paid the Amendment Fee to Agent; (ii) Borrower, Agent and each
Lender have executed and delivered counterparts hereof to Agent; and
(iii) Borrower has executed and delivered the Subordinated Note Purchase
Agreement and the Note Indebtedness (as defined therein) has been fully
disbursed to Borrower and the net proceeds thereof have been applied to reduce
the principal amount of the Senior Funded Debt.

    20. Representations and Warranties. Borrower hereby represents and warrants
to the Lenders and Agent that each of the representations and warranties set
forth in Article 5 of the Credit Agreement is true and correct in each case as
if made on and as of the date of this Amendment and Borrower expressly agrees
that it shall be an additional Event of Default under the Credit Agreement if
any representation or warranty made hereunder shall prove to have been incorrect
in any material respect when made.

    21. Amendments to Other Loan Documents. The parties hereto agree that the
Security Agreement covers, and the term "Collateral" (as defined therein) shall
include, without limitation, letter of credit rights, deposit accounts and
promissory notes as such terms are defined in the Washington State Uniform
Commercial Code, as amended from time to time (the "UCC"). Parties hereto
further agree terms used in the Security Agreement that are defined in the UCC
shall be defined as set forth in the UCC.

    22. No Further Amendment. Except as expressly modified by the terms of this
Amendment, all of the terms and conditions of the Credit Agreement and the other
Loan Documents shall remain in full force and effect and the parties hereto
expressly reaffirm and ratify their respective obligations thereunder.

    23. Governing Law. This Amendment shall be governed by and construed in
accordance with the laws of the State of Washington.

    24. Counterparts. This Amendment may be executed in any number of
counterparts and by different parties hereto in separate counterparts, each of
which when so executed shall be deemed to be an original, and all of which taken
together shall constitute one and the same agreement.

    25. Oral Agreements Not Enforceable.

ORAL AGREEMENTS OR ORAL COMMITMENTS TO LOAN MONEY, EXTEND CREDIT, OR TO FORBEAR
FROM ENFORCING REPAYMENT OF A DEBT ARE NOT ENFORCEABLE UNDER WASHINGTON LAW.

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IN WITNESS WHEREOF, the parties hereto have executed this Amendment Number One
to Amended and Restated Credit Agreement as of the date first above written.

BORROWER:   FLOW INTERNATIONAL CORPORATION
 
 
 
 
      By:            

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Name: Stephen D. Reichenbach
Title:  Chief Financial Officer
 
 
 
 
  LENDERS:   BANK OF AMERICA, N.A.
 
 
 
 
      By:            

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Name: William P. Stivers
Title:  Senior Vice President
 
 
 
 
      U.S. BANK NATIONAL ASSOCIATION
 
 
 
 
      By:            

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Name: Allan Forney
Title:   Vice President
 
 
 
 
      KEYBANK NATIONAL ASSOCIATION
 
 
 
 
      By            

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Name: Jason R. Gill
Title:  Vice President
 
 
 
 
  AGENT:   BANK OF AMERICA, N.A.
 
 
 
 
      By:            

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Name: Ken Puro
Title:  Vice President

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QuickLinks

AMENDMENT NUMBER TWO TO AMENDED AND RESTATED CREDIT AGREEMENT
RECITALS
AGREEMENT