Exhibit 10.2

EXECUTION COPY

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SECOND AMENDMENT AND RESTATEMENT AGREEMENT

dated as of

March 27, 2003

among

EDWARDS LIFESCIENCES CORPORATION
as Borrower

The Lenders Party Hereto

JPMORGAN CHASE BANK
as Administrative Agent

CREDIT SUISSE FIRST BOSTON, CAYMAN ISLANDS BRANCH
AND WACHOVIA BANK, N.A.
as Co-Syndication Agents

and

THE BANK OF NOVA SCOTIA AND BANK OF AMERICA, N.A.
as Co-Documentation Agents

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J.P. MORGAN SECURITIES INC.
as Lead Arranger and Bookrunner

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        SECOND AMENDMENT AND RESTATEMENT AGREEMENT dated as of March 27, 2003
(this "Amendment and Restatement"), in respect of the 364-DAY CREDIT AGREEMENT
dated as of March 30, 2000, as amended through the date hereof (the "Existing
Credit Agreement"), among EDWARDS LIFESCIENCES CORPORATION, a Delaware
corporation (the "Company"); the LENDERS from time to time party hereto;
JPMORGAN CHASE BANK, as Administrative Agent; CREDIT SUISSE FIRST BOSTON, CAYMAN
ISLANDS BRANCH AND WACHOVIA BANK, N.A., as Co-Syndication Agents and THE BANK OF
NOVA SCOTIA AND BANK OF AMERICA, N.A., as Co-Documentation Agents.

        The Company has requested that the Existing Credit Agreement be amended
and restated as set forth in Section 1 below and the other parties hereto are
willing so to amend and restate the Existing Credit Agreement. Each capitalized
term used but not defined herein has the meaning assigned thereto in the
Existing Credit Agreement as amended and restated hereby.

        In consideration of the premises and the agreements, provisions and
covenants herein contained, the parties hereto hereby agree, on the terms and
subject to the conditions set forth herein, as follows:

        SECTION 1    Amendment and Restatement.    Upon the effectiveness of
this Amendment and Restatement as provided in Section 3 below, the Existing
Credit Agreement shall be amended and restated in the form in which it exists on
the date hereof but with the following revisions (the Existing Credit Agreement,
as so amended and restated, being called the "Restated Credit Agreement"):

        (a)   Section 1.01 is hereby amended as follows:

        (i)    Confidential Information Memorandum.    The definition of
"Confidential Information Memorandum" is hereby amended by deleting the date
"March 2002" and substituting therefor "February 2003".

        (ii)    Existing Credit Agreement.    The following definition is hereby
inserted in its proper alphabetical position:

        "Existing Credit Agreement" means the 364-Day Credit Agreement dated as
of March 30, 2000, as amended through the date hereof, among the Company, the
borrowing subsidiaries party thereto, the lenders party thereto and JPMorgan
Chase Bank, as administrative agent."

        (iii)    Termination Date.    The definition of "Termination Date" is
hereby amended by deleting the date "March 27, 2003" and substituting therefor
"March 25, 2004".

        (b)   Paragraph (a) of Section 3.06 is hereby amended by deleting the
date "December 31, 2001" and substituting therefor "December 31, 2002", each
time it appears. Paragraph (b) of Section 3.06 is hereby amended by deleting the
date "December 31, 2001" and substituting therefor "December 31, 2002", each
time it appears.

        (c)    Effective Date.    From and after the Effective Date (as defined
below), all references in the Restated Credit Agreement to "the date hereof",
"the date of this Agreement" or other words or phrases of similar import, shall
be deemed references to the date of this Amendment and Restatement.

        (d)    Schedule 2.01.    Schedule 2.01 is deleted and replaced with
Schedule 2.01 to this Amendment and Restatement.

        SECTION 2    Representations and Warranties.    The Company represents
and warrants to the Lenders as of the date hereof and as of the Effective Date
that:

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        (a)   Before and after giving effect to this Amendment and Restatement,
the representations and warranties set forth in the Existing Credit Agreement
are true and correct in all material respects with the same effect as if made on
the Effective Date, except to the extent such representations and warranties
expressly relate to an earlier date.

        (b)   At the time of and after giving effect to this Amendment and
Restatement, no Default has occurred and is continuing.

        SECTION 3    Conditions to Effectiveness.    This Amendment and
Restatement and the obligations of the Lenders to make Loans under the Existing
Credit Agreement as amended and restated hereby shall become effective on the
date (the "Effective Date") on which each of the following conditions is
satisfied (or waived in accordance with Section 9.02 of the Existing Credit
Agreement):

        (a)   The Administrative Agent (or its counsel) shall have received from
each party hereto either (i) a counterpart of this Amendment and Restatement
signed on behalf of such party or (ii) written evidence satisfactory to the
Administrative Agent (which may include telecopy transmission of a signed
signature page of this Amendment and Restatement) that such party has signed a
counterpart of this Amendment and Restatement.

        (b)   The Administrative Agent shall have received favorable written
opinions (addressed to the Administrative Agent and the Lenders and dated the
Effective Date) of (i) Sidley Austin Brown & Wood LLP, special counsel for the
Company, substantially in the form of Exhibit D-1, and (ii) the General Counsel
of the Company, substantially in the form of Exhibit D-2. Each Loan Party hereby
requests such counsel to deliver such opinions.

        (c)   The Administrative Agent shall have received such documents and
certificates as the Administrative Agent or its counsel may reasonably request
relating to the organization, existence and good standing of the Loan Parties,
the authorization of the Transactions and any other legal matters relating to
the Loan Parties, this Amendment and Restatement, the Existing Credit Agreement
or the Transactions, all in form and substance satisfactory to the
Administrative Agent and its counsel.

        (d)   The Administrative Agent shall have received a certificate, dated
the Effective Date and signed by the President, a Vice President or a Financial
Officer of the Company, confirming compliance with the conditions set forth in
paragraphs (a) and (b) of Section 4.02 of the Existing Credit Agreement.

        (e)   Any loans outstanding under the Existing Credit Agreement shall
have been repaid, together with all interest, fees and other amounts accrued
thereunder.

        (f)    The Administrative Agent shall have received all fees and other
amounts due and payable on or prior to the Effective Date, including, to the
extent invoiced, reimbursement or payment of all out-of-pocket expenses
(including the agreed upon fees and charges, plus disbursements, of counsel)
required to be reimbursed or paid by the Company or any Subsidiary in connection
with this Amendment and Restatement or any Loan Document.

The Administrative Agent shall notify the Company and the Lenders of the
Effective Date, and such notice shall be conclusive and binding.

        SECTION 4    Agreement.    Except as specifically stated herein, the
provisions of the Existing Credit Agreement are and shall remain in full force
and effect. As used therein, the terms "Credit Agreement", "herein",
"hereunder", "hereinafter", "hereto", "hereof" and words of similar import
shall, unless the context otherwise requires, refer to the Restated Credit
Agreement.

        SECTION 5    Consents.    Each Subsidiary Guarantor hereby acknowledges
receipt of and consents to the terms of this Amendment and Restatement and
confirms that its respective Guarantee pursuant

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to the Subsidiary Guarantee Agreement will remain in full force and effect
notwithstanding the execution and delivery of this Amendment and Restatement.

        SECTION 6    Applicable Law.    THIS AMENDMENT AND RESTATEMENT SHALL BE
GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW
YORK.

        SECTION 7    Counterparts.    This Amendment and Restatement may be
executed in two or more counterparts, each of which shall constitute an original
but all of which when taken together shall constitute but one contract. Delivery
of an executed counterpart of a signature page of this Amendment and Restatement
by telecopy shall be effective as delivery of a manually executed counterpart of
this Amendment and Restatement.

        SECTION 8    Expenses.    The Company agrees to reimburse the
Administrative Agent for all out-of-pocket expenses incurred by it in connection
with this Amendment and Restatement, including the reasonable fees, charges and
disbursements of Cravath, Swaine & Moore, counsel for the Administrative Agent.

        SECTION 9    Headings.    The headings of this Amendment and Restatement
are for purposes of reference only and shall not limit or otherwise affect the
meaning hereof.

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

 
 
EDWARDS LIFESCIENCES CORPORATION,
 
 
by
       

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Name:
Title:
 
 
EDWARDS LIFESCIENCES CORPORATION OF PUERTO RICO,
 
 
by
       

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Name:
Title:
 
 
EDWARDS LIFESCIENCES JAPAN HOLDINGS, INC.,
 
 
by
       

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Name:
Title:
 
 
EDWARDS LIFESCIENCES LLC,
 
 
by
       

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Name:
Title:
 
 
EDWARDS LIFESCIENCES RESEARCH MEDICAL, INC.,
 
 
by
       

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Name:
Title:
 
 
EDWARDS LIFESCIENCES SALES CORPORATION,
 
 
by
       

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Name:
Title:        

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EDWARDS LIFESCIENCES (U.S.) INC.,
 
 
by
       

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Name:
Title:
 
 
EDWARDS LIFESCIENCES WORLD TRADE CORPORATION,
 
 
by
       

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Name:
Title:
 
 
JPMORGAN CHASE BANK,
individually and as Administrative Agent,
 
 
by
       

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Name:
Title:
 
 
CREDIT SUISSE FIRST BOSTON, CAYMAN ISLANDS BRANCH, individually and as
Co-Syndication Agent,
 
 
by
       

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Name:
Title:
 
 
WACHOVIA BANK, N.A.
individually and as Co-Syndication Agent,
 
 
by
       

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Name:
Title:
 
 
THE BANK OF NOVA SCOTIA,
individually and as Co-Documentation Agent,
 
 
by
       

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Name:
Title:
 
 
BANK OF AMERICA, N.A.,
individually and as Co-Documentation Agent,
 
 
by
       

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Name:
Title:

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