Exhibit 10.3

 

AMENDMENT NO. 4 TO CREDIT AGREEMENT

 

AMENDMENT NO. 4 TO CREDIT AGREEMENT, dated as of October 20, 2004 (this
“Amendment”), to the Credit Agreement dated as of December 26, 2002 (as amended,
supplemented or otherwise modified from time to time prior to the date hereof,
the “Credit Agreement”) by and among PERKINELMER, INC., a Massachusetts
corporation (the “Borrower”), the several banks and other financial institutions
or entities from time to time parties to the Credit Agreement (collectively, the
“Lenders”), certain agents and arrangers, and BANK OF AMERICA, N.A., as
administrative agent (in such capacity, the “Administrative Agent”) for the
Lenders and as Issuing Lender and Alternative Rate Lender. Capitalized terms not
otherwise defined herein shall have the same meanings as specified therefor in
the Credit Agreement.

 

W I T N E S E T H:

 

WHEREAS, the Borrower has requested that the Lenders agree to amend the Credit
Agreement; and

 

WHEREAS, the Lenders have indicated their willingness to agree to so amend the
Credit Agreement, but only on and subject to the terms and conditions of this
Amendment;

 

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

 

SECTION 1. Amendment to the Credit Agreement. The Credit Agreement is hereby
amended, effective as of the Effective Date (as defined in Section 2 below), as
follows:

 

(a) Section 1.1 of the Credit Agreement is hereby amended by:

 

(i) (A) amending the definition of “Excess Cash Flow” by adding a new subsection
(b)(viii) thereto to read as set forth below and (B) deleting the word “and”
appearing at the end of clause (vi) thereof:

 

“and (viii) an amount equal to the aggregate amount of all cash expended by the
Borrower and its Subsidiaries for the purchase or repurchase of Senior
Subordinated Notes in accordance with Section 7.8(k).”;

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

(ii) (A) amending the definition of “Net Cash Proceeds” by adding a new
subsection (c) thereto to read as set forth below and (B) deleting the word
“and” appearing at the end of subsection (b) thereof:

 

“and (c) in connection with the repatriation of foreign earnings as permitted by
Section 7.2(n), the cash proceeds received by the Borrower or any of its
Domestic Subsidiaries from such repatriation, net of all taxes related thereto
or arising therefrom.”; and

 

(iii) adding the following new definition, in its appropriate alphabetic order:

 

“Fourth Amendment Effective Date”: October 20, 2004.

 

(b) Section 2.11 of the Credit Agreement is hereby amended by:

 

(i) amending and restating subsection (c) thereof to read in its entirety as
follows:

 

“(c) Unless the Required Prepayment Lenders shall otherwise agree, if, for any
fiscal year of the Borrower commencing with the fiscal year ending January 2,
2005, there shall be Excess Cash Flow, then, on the relevant Excess Cash Flow
Application Date, the Loans shall be prepaid by an amount equal to (i) 50% of
such Excess Cash Flow, if the Consolidated Leverage Ratio as of the end of such
fiscal year is greater than or equal to 2.50:1.00 for such fiscal year, (ii) 25%
of such Excess Cash Flow, if the Consolidated Leverage Ratio as of the end of
such fiscal year is less than 2.50:1.00, but greater than or equal to 2.00:1.00
for such fiscal year or (iii) 0% of such Excess Cash Flow, if the Consolidated
Leverage Ratio as of the end of such fiscal year is less than 2.00:1.00 for such
fiscal year, in each case as set forth in Section 2.11(f). Each such prepayment
shall be made on a date (an “Excess Cash Flow Application Date”) no later than
June 30 of the year following the fiscal year with respect to which such
prepayment is required to be made.”;

 

(ii) (A) adding a new subsection (d) therein to read as set forth below, (B)
relettering the existing subsection (d) as subsection (e), (C) relettering the
existing subsection (e) as subsection (f) and (D) modifying all existing
references in the Credit Agreement to Sections 2.11(d) and (e) to Sections
2.11(e) and (f), respectively:

 

“(d) Unless the Required Prepayment Lenders shall otherwise agree, the Loans
shall be prepaid by an amount equal to the Net Cash Proceeds received from the
repatriation of foreign earnings as permitted by Section 7.2(n), to be applied
(i) first to the prepayment of outstanding Tranche B Term Loans and (ii) if no
Tranche B Term Loans are outstanding, then to the prepayment of the Revolving
Credit Loans (without any mandatory reduction of Revolving Credit Commitments),
with any excess following any such prepayments to be retained by the Borrower.”;
and

 

2

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

(iii) adding the phrase “(other than Section 2.11(d))” immediately following the
phrase “Amounts to be applied in connection with the prepayments made pursuant
to this Section” and immediately preceding the phrase “shall be applied (i) to
the prepayment of Tranche B Term Loans and”, appearing in subsection (f)
thereof.

 

(c) Section 7.2 of the Credit Agreement is hereby amended by:

 

(i) (A) deleting the amount “$125,000,000” appearing in subsection (m) thereof
and substituting the amount “$250,000,000” therefor and (B) deleting the word
“and” appearing at the end of the subsection (m) thereof; and

 

(ii) (A) adding a new subsection (n) thereto to read in its entirety as set
forth below and (B) relettering the existing subsection (n) as subsection (o):

 

“(n) if the repatriation legislation known officially in the United States
Senate as the Invest in the U.S.A. Act and in the United States House of
Representatives as the Homeland Investment Act, or any other comparable
legislation, in each case providing for a low effective tax rate on
extraordinary distributions from controlled foreign corporations, shall become
law, on and after the date such legislation shall have become law, unsecured
Indebtedness of Foreign Subsidiaries in an aggregate principal amount not to
exceed $300,000,000, provided that (x) such Indebtedness is incurred solely for
the purposes of financing the repatriation to the Borrower of foreign earnings
of such Foreign Subsidiaries, (y) no Default shall have occurred and be
continuing or would result therefrom and (z) the Net Cash Proceeds of such
Indebtedness shall have been applied in accordance with Section 2.11(d); and”

 

(d) Section 7.4(d) of the Credit Agreement is amended by adding the phrase “or
any portion thereof immediately following the phrase “(which is a reporting
segment of the Borrower on the date hereof),” and immediately preceding the
phrase “as permitted by Section 7.5(e)”

 

(e) Section 7.5 of the Credit Agreement is hereby amended by:

 

(i) amending and restating subsection (i) thereof to read in its entirety as
follows:

 

“(i) the Disposition of other assets having an aggregate book value of less than
5% of the consolidated total assets (as determined in accordance with GAAP) of
the Borrower and its Subsidiaries as of September 26, 2004; provided that (A) at
least 75% of the consideration for any such single Disposition (or related
series of Dispositions) of assets in excess of $10,000,000 in the aggregate
shall be in the form of cash and (B) the Net Cash Proceeds

 

3

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

thereof shall be applied in accordance with Section 2.11(b), to the extent such
Disposition constitutes an Asset Sale; and”; and

 

(ii) adding the phrase “or any portion thereof” immediately following the phrase
“(which is a reporting segment of the Borrower on the date hereof),” and
immediately preceding the phrase “for the fair market value”, appearing in
subsection (e) thereof.

 

(f) Section 7.2(g)(iii) is amended by deleting the entire clause that begins
“provided that the aggregate amount” appearing at the end of Section
7.2(g)(iii).

 

(g) Section 7.6 of the Credit Agreement is hereby amended by:

 

(i) adding the phrase “if the Consolidated Leverage Ratio is equal to or greater
than 2.50:1.00 at the time of any proposed Restricted Payment described in this
Section 7.6(c),” to the beginning of Section 7.6(c) and deleting the entire
clause that begins “provided further that” appearing at the end of Section
7.6(c);

 

(ii) adding the phrase “if the Consolidated Leverage Ratio is equal to or
greater than 2.50:1.00 at the time of any proposed Restricted Payment described
in this Section 7.6(d),” to the beginning of Section 7.6(d);

 

(iii) deleting the word “and” immediately following the “;” appearing at the end
of subsection (c) thereof;

 

(iv) adding the word “and” immediately following the “;” appearing at the end of
subsection (d) thereof; and

 

(v) adding a new subsection (e) thereto, to read in its entirety as follows:

 

“(e) so long as no Default or Event of Default shall have occurred and be
continuing, the Borrower or any of its Subsidiaries may make any such Restricted
Payment, provided, that the aggregate amount of payments under this paragraph
(e) subsequent to the Fourth Amendment Effective Date shall be (i) unlimited if,
after taking into account any borrowings made in connection with such Restricted
Payment, the Consolidated Leverage Ratio is less than 1.50:1.00, (ii) no greater
than $100,000,000 during any fiscal year if, after taking into account any
borrowings made in connection with such Restricted Payment, the Consolidated
Leverage Ratio is greater than 1.50:1.00 but less than 2.00:1:00, or (iii) no
greater than $75,000,000 during any fiscal year if, after taking into account
any borrowings made in connection with such Restricted Payment, the Consolidated
Leverage Ratio is greater than 2.00:1:00 but less than 2.50:1.00 provided,
further, that any Restricted Payment that is valid when made pursuant to this
Section 7.6(e) shall not thereafter be deemed to be in violation of this Section
7.6(e) notwithstanding any change in the Consolidated Leverage Ratio occurring
after such Restricted Payment”.

 

4

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

(h) Section 7.8 of the Credit Agreement is hereby amended by:

 

(i) deleting the amount “$125,000,000” appearing in subsection (i) thereof and
substituting the amount “$250,000,000” therefor;

 

(ii) deleting the word “and” at the end of subsection (j) thereof;

 

(iii) adding a new subsection (k) thereto, to read in its entirety as follows:

 

“(k) Investments comprising open market purchases or repurchases of, or tender
offers for, all or a portion of the Senior Subordinated Notes, provided that (i)
both before and after giving effect to such Investments, the Borrower shall be
in compliance with all covenants under this Agreement, including without
limitation the financial covenants set forth in Section 7.1 of the Credit
Agreement, and no Default shall have occurred and be continuing and (ii) no
Revolving Credit Loans shall be outstanding; and”; and

 

(iv) renumbering the previous subsection (k) thereof as subsection (l).

 

(i) Section 7.9 of the Credit Agreement is hereby amended by inserting at the
end thereof the following words “and the open market purchases or repurchases
of, or tender offers for, all or a portion of the Senior Subordinated Notes in
accordance with Section 7.8(k)”.

 

SECTION 2. Conditions of Effectiveness. This Amendment shall become effective
(the “Effective Date”) as of the date first above written when, and only when:

 

(a) the Administrative Agent shall have received (i) counterparts of this
Amendment executed by the Borrower and the Required Lenders or, as to any of
such Lenders, advice satisfactory to the Administrative Agent that such Lender
has executed this Amendment and (ii) the Consent attached hereto executed by
each Guarantor and each Grantor (other than the Borrower) under the Guarantee
and Collateral Agreement.

 

(b) the Administrative Agent shall have additionally received all of the
following documents, each such document (unless otherwise specified) dated the
date of receipt thereof by the Administrative Agent (unless otherwise specified)
and in sufficient copies for each Lender, in form and substance satisfactory to
the Administrative Agent (unless otherwise specified):

 

(i) A certificate of the Secretary or an Assistant Secretary of the Borrower
certifying the names and true signatures of the officers of the Borrower
authorized to sign this Amendment and the other documents to be delivered
hereunder and thereunder; and

 

5

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

(ii) A certificate signed by a duly authorized officer of the Borrower stating
that:

 

(A) The representations and warranties contained in the Loan Documents and in
Section 3 hereof are correct on and as of the date of such certificate as though
made on and as of such date, except where such representation and warranty is
expressly made as of a specific earlier date, in which case such representation
and warranty shall be true as of such earlier date; and

 

(B) No event has occurred and is continuing that constitutes a Default or Event
of Default as of the Effective Date after giving effect to this Amendment.

 

(c) All of the accrued fees and expenses of the Administrative Agent and the
Lenders (including the accrued fees and expenses of counsel for the
Administrative Agent in connection with this Amendment and for other work since
the date of the last invoice of counsel to the Administrative Agent), shall have
been paid in full.

 

(d) With respect to the amendments set forth in Section 1 of this Amendment, the
Borrower shall have paid to the Administrative Agent, for the pro rata benefit
of each of the Lenders that executes this Amendment on or prior to the Effective
Date, an amendment fee equal to 0.05% of the sum of (x) the outstanding
principal balance of the Tranche B Term Loans and (y) the aggregate amount of
the Revolving Credit Commitments and the L/C Commitments of such Lenders under
the Credit Agreement, in each case without duplication, as of the Effective
Date.

 

SECTION 3. Representations and Warranties of the Borrower. In order to induce
the parties hereto to execute and deliver this Amendment, the Borrower hereby
restates each of the representations and warranties contained in Sections 4.3,
4.4 and 4.5 of the Credit Agreement, with each reference therein to the Credit
Agreement being deemed to be a dual reference both to this Amendment and the
Credit Agreement as amended by this Amendment.

 

SECTION 4. Reference to and Effect on the Loan Documents. (a) On and after the
Effective Date, each reference in the Credit Agreement to “this Agreement,”
“hereunder,” “hereof” or words of like import referring to the Credit Agreement,
and each reference in the Notes and each of the other Loan Documents to “the
Credit Agreement,” “thereunder,” “thereof” or words of like import referring to
the Credit Agreement, shall mean and be a reference to the Credit Agreement, as
amended by this Amendment.

 

(b) The Credit Agreement and the Notes, as specifically amended by this
Amendment, are and shall continue to be in full force and effect and are hereby
in all respects ratified and confirmed. Without limiting the generality of the
foregoing, the Security Documents and all of the Collateral described therein do
and shall continue to secure the payment of all Obligations of the Loan Parties
under the Loan Documents, in each case as amended by this Amendment.

 

(c) The execution, delivery and effectiveness of this Amendment shall not,
except as expressly provided herein, operate as a waiver of any right, power or
remedy of any

 

6

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

Lender or the Administrative Agent under the Credit Agreement, nor constitute a
waiver of any provision of the Credit Agreement.

 

SECTION 5. Costs, Expenses. The Borrower agrees to pay on demand all reasonable
and documented costs and expenses of the Administrative Agent in connection with
the preparation, execution, delivery and administration, modification and
amendment of this Amendment and the other instruments and documents to be
delivered hereunder (including, without limitation, the reasonable fees and
expenses of counsel for the Administrative Agent) in accordance with the terms
of Section 10.5 of the Credit Agreement.

 

SECTION 6. Execution in Counterparts. This Amendment may be executed in any
number of separate 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 but one and the same agreement.
Delivery of an executed counterpart of a signature page to this Amendment by
telecopier shall be effective as delivery of a manually executed counterpart of
this Amendment.

 

SECTION 7. GOVERNING LAW. THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

 

7

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

IN WITNESS WHEREOF, each of the undersigned has caused this Amendment to be duly
executed and delivered as of the day first above written.

 

PERKINELMER, INC., as Borrower By:   /s/    ROBERT F. FRIEL         Name:  
Robert F. Friel Title:   Senior Vice President and Chief Financial Officer BANK
OF AMERICA, N.A., as Administrative Agent and as Lender By:   /s/    PETER D.
GRIFFITH         Name:   Peter D. Griffith Title:   Managing Director

MERRILL LYNCH CAPITAL CORPORATION,

as Syndication Agent and as Lender

By:   /s/    MICHAEL E. O’BRIEN         Name:   Michael E. O’Brien Title:   Vice
President SOCIÉTÉ GÉNÉRALE, as Documentation Agent and as Lender By:  
/s/    ANNE-MARIE DUMORTIER         Name:   Anne-Marie Dumortier Title:   Vice
President

 

8

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

ABN AMRO BANK N.V., as Lender By:   /s/    ALEXANDER M. BLODI         Name:  
Alexander M. Blodi Title:   Managing Director By:   /s/    ERIC
OPPENHEIMER         Name:   Eric Oppenheimer Title:   Director CITIBANK, N.A. as
Lender By:   /s/    JAMES B. MAXWELL        

Name:

  James B. Maxwell

Title:

  Attorney-In-Fact General Electric Capital Corporation, as Lender By:  
/s/    MEI NISHIWAKI        

Name:

  Mei Nishiwaki

Title:

  Duly Authorized Signatory

 

9

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

APEX (IDM) CDO I, LTD.

BABSON CLO LTD. 2003-I

BABSON CLO LTD. 2004-I

ELC (CAYMAN) LTD.

ELC (CAYMAN) LTD. CDO SERIES 1999-I

ELC (CAYMAN) LTD 1999-II

ELC (CAYMAN) LTD 1999-III

ELC (CAYMAN) LTD 2000-I

SEABOARD CLO 2000 LTD.

SUFFIELD CLO, LIMITED

TRYON CLO LTD. 2000-I

By:  

Babson Capital Management as

Collateral Manager

By:   /s/    WILLIAM A. HAYES        

Name:

  William A. Hayes

Title:

  Managing Director

BILL & MELINDA GATES FOUNDATION

MASSACHUSETTS MUTUAL LIFE

INSURANCE COMPANY

By:  

Babson Capital Management LLC as

Investment Adviser

By:   /s/    WILLIAM A. HAYES        

Name:

  William A. Hayes

Title:

  Managing Director MAPLEWOOD (CAYMAN) LIMITED By:   Babson Capital Management
LLC under delegated authority from Massachusetts Mutual Life Insurance Company
as Investment Manager By:   /s/    WILLIAM A. HAYES        

Name:

  William A. Hayes

Title:

  Managing Director

 

10

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

ING-ORYX CLO, Ltd., as a Lender

BY:

 

ING Capital Advisors, LLC

As Collateral Manager

    /s/    HELEN Y. RHEE             Helen Y. Rhee, Director Nemean CLO, Ltd.
By:  

ING Capital Advisors LLC,

As Investment Manager

By:   /s/    HELEN Y. RHEE             Helen Y. Rhee, Director SEQUILS-ING I
(HBDGM), LTD. By:  

ING Capital Advisors LLC,

As Collateral Manager

By:   /s/    HELEN Y. RHEE             Helen Y. Rhee, Director ENDURANCE CLO I,
LTD By:  

ING Capital Advisors, LLC

As Portfolio Manager

By:   /s/    HELEN Y. RHEE             Helen Y. Rhee, Director BALANCED HIGH
YIELD FUND II LTD., as Lender By:  

ING Capital Advisors LLC,

as Asset Manager

BY:   /s/    HELEN Y. RHEE             Helen Y. Rhee, Director ARCHIMEDES
FUNDING IV (Cayman), Ltd. BY:  

ING Capital Advisors, LLC

as Collateral Manager

By:   /s/    HELEN Y. RHEE             Helen Y. Rhee, Director

 

11

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

Anrum CLO 2002-I Ltd.,

by Columbia Management Advisors, Inc.

as Investment Manager

By:

  /s/    COLLEEN CUANIFFE        

Name:

  Colleen Cuaniffe

Title:

  Vice President

Stain Roe & Farnham CLO I LTD.,

by Columbia Management Advisors, Inc.

as Portfolio Manager

By:

  /s/    COLLEEN CUANIFFE        

Name:

  Colleen Cuaniffe

Title:

  Vice President

 

BlackRock Senior Loan Trust

Magnetite Asset Investors L.L.C.

Magnetite Asset Investors III L.L.C.

Magnetite IV CLO, Limited

Magnetite V CLO, Limited

Senior Loan Fund,

as Leaders

By:

  /s/    TOM COLWELL        

Name:

  Tom Colwell

Title:

  Auth. Signatory

BRYN MAWR CLO, Ltd.

By:

 

Deerfield Capital Management LLC as its

Collateral Manager

By:

  /s/    DALE BURROW        

Name:

  Dale Burrow

Title:

  Senior Vice President

 

By:   Callidus Debt Partners CLO Fund II, Ltd.     By:  

Its Collateral Manager,

Callidus Capital Management, LLC

        , as Lender By:   /s/    MAVIS TAINTOR         Name:   Mavis Taintor
Title:   Senior Managing Director

 

12

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

Carlyle High Yield Partners II, Ltd.    

                                                             , as Lender

   

(Type or print legal name of Lender)

   

By:

  /s/    LINDA PACE             

Name:

  Linda Pace    

Title:

  Managing Director Carlyle High Yield Partners III, Ltd.    

                                                         , as Lender

(Type or print legal name of Lender)

    By:   /s/    LINDA PACE             Name:   Linda Pace     Title:   Managing
Director Carlyle High Yield Partners IV, Ltd.    

                                                         , as Lender

(Type or print legal name of Lender)

    By:   /s/    LINDA PACE             Name:   Linda Pace     Title:   Managing
Director Carlyle High Yield Partners, L.P.    

                                                         , as Lender

(Type or print legal name of Lender)

    By:   /s/    LINDA PACE             Name:   Linda Pace     Title:   Managing
Director Carlyle High Yield Partners VI, Ltd.    

                                                         , as Lender

(Type or print legal name of Lender)

    By:   /s/    LINDA PACE             Name:   Linda Pace     Title:   Managing
Director

 

13

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

Centurion CDO II, Ltd.

By:

 

American Express Asset Management

Group, Inc. as Collateral Manager

____________________________, as Lender

(Type or print legal name of Lender) By:   /s/    ROBIN C. STANCIL        

Name:

  Robin C. Stancil

Title:

  Supervisor     Fixed Income Support Team

Centurion CDO VI, Ltd.

By:

 

American Express Asset Management

Group as Collateral Manager

____________________________, as Lender

(Type or print legal name of Lender) By:   /s/    ROBIN C. STANCIL        

Name:

  Robin C. Stancil

Title:

  Supervisor     Fixed Income Support Team

Citadel Hill 2000 Ltd., as Lender

(Type or print legal name of Lender) By:   /s/    ALEX CLARKE        

Name:

  Alex Clarke

Title:

  Authorized Signatory HIGHLAND FLOATING RATE ADVANTAGE FUND (f/k/a Columbia
Floating Rate Advantage Fund), as Lender By:   Highland Capital Management,
L.P., its Investment Advisor By:   /s/    MARK OKADA        

Name:

  Mark Okada

Title:

  Chief Investment Officer     Highland Capital Management, L.P. CREDIT SUISSE
FIRST BOSTON INTERNATIONAL, as Lender By:   /s/    MARTIN CRABTREE        

Name:

  Martin Crabtree

Title:

  Vice President

 

14

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

CYPRESSTREE CLAIF FUNDING LLC, as

Lender

By:   /s/    MEREDITH J. KOSLICK        

Name:

  Meredith J. Koslick

Title:

  Assistant Vice President

 

Close International Custody Services Limited as Custodian of

CYPRESSTREE INTERNATIONAL LOAN HOLDING COMPANY LIMITED

(b)   By:   /s/    PETER CARNES            

Name:

  Peter Carnes    

Title:

  Managing Director (c)   By:   /s/    JEFFREY MEGAR            

Name:

  Jeffrey Megar    

Title:

  Managing Director

 

DEUTSCHE BANK AG, NEW YORK BRANCH,

as Lender

By:

 

DB Services New Jersey, Inc.

By:   /s/    ALICE L. WAGNER        

Name:

  Alice L. Wagner

Title:

  Vice President     /s/    JAY HOPKINS             Jay Hopkins     Assistant
Vice President FOREST CREEK CLO, Ltd. By:   Deerfield Capital Management LLC as
its Collateral Manager By:   /S/    DALE BURROW        

Name:

  Dale Burrow

Title:

  Senior Vice President FRANKLIN CLO II, LIMITED, as Lender By:   /s/    ROMEO
J. CRUZ        

Name:

  Romeo J. Cruz

Title:

  Authorized Signatory FRANKLIN CLO III, LIMITED, as Lender By:   /s/    ROMEO
J. CRUZ         Name:   Romeo J. Cruz Title:   Authorized Signatory FRANKLIN CLO
IV, LIMITED, as Lender By:   /s/    ROMEO J. CRUZ         Name:   Romeo J. Cruz
Title:   Authorized Signatory

 

15

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

FRANKLIN FLOATING RATE DAILY ACCESS

FUND, as Lender

By:   /s/    MADELINE LAM         Name:   Madeline Lam Title:   Vice President

FRANKLIN FLOATING RATE MASTER

SERIES, as Lender

By:   /s/    MADELINE LAM         Name:   Madeline Lam Title:   Vice President
FRANKLIN FLOATING RATE TRUST, as Lender By:   /s/    MADELINE LAM        

Name:

  Madeline Lam

Title:

  Vice President

 

16

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

Galaxy CLO 1999-1, Ltd.

By: AIG Global Investment Corp.,

Its Collateral Manager,

as Lender

By:   /s/    STEVEN S. OH        

Name:

  Steven S. Oh

Title:

  Managing Director

Galaxy CLO 2003-1, Ltd.

By: AIG Global Investment Corp.,

Its Investment Adviser,

as Lender

By:   /s/    STEVEN S. OH        

Name:

  Steven S. Oh

Title:

  Managing Director

GLENEAGLES TRADING LLC, as Lender

By:   /s/    MEREDITH J. KOSLICK        

Name:

  Meredith J. Koslick

Title:

  Assistant Vice President

HarbourView CLO IV, Ltd., as Lender

By:   /s/    L. CH.        

Name:

   

Title:

   

HarbourView CLO V, Ltd., as Lender

By:   /s/    L. CH.        

Name:

   

Title:

   

Harch CLO I, Ltd., as Lender

(Type or print legal name of Lender)

By:   /s/    MICHAEL E. LEWITT        

Name:

  Michael E. Lewitt

Title:

  Authorized Signatory

 

17

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

Hewett’s Island CDO, Ltd. By:   CypressTree Investment Management Company, Inc.,
as Portfolio Manager. (a)   By:   /s/    PETER CARNES            

Name:

  Peter Carnes    

Title:

  Managing Director

 

IKB Capital Corporation, as Lender

By:

  /s/    DAVID SNYDER        

Name:

  David Snyder

Title:

  President KZH CYPRESSTREE-1 LLC

By:

  /s/    HI HUA        

Name:

  Hi Hua

Title:

  Authorized Agent KZH SOLEIL LLC

By:

  /s/    HI HUA        

Name:

  Hi Hua

Title:

  Authorized Agent KZH SOLEIL-2 LLC

By:

  /s/    HI HUA        

Name:

  Hi Hua

Title:

  Authorized Agent KZH STERLING LLC By:   /s/    HI HUA        

Name:

  Hi Hua

Title:

  Authorized Agent Landmark CPO II

Aladdin Capital Management LLC, as Lender

(Type or print legal name of Lender)

By:   /s/    Illegible        

Name:

  Illegible

Title:

  Authorized Signatory

LONG GROVE CLO, LIMITED

By:

  Deerfield Capital Management LLC as its Collateral Manager By:   /s/    DALE
BURROW        

Name:

  Dale Burrow

Title:

  Senior Vice President

 

18

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

, as Lender

Longhorn CDO (Cayman) LTD

By:  

Merrill Lynch Investment Managers, L.P.

as Investment Advisor

By:       /s/    SAVITRI ALEX                 Savitri Alex         Authorized
Signatory    

Longhorn CDO II, LTD.

    By:  

Merrill Lynch Investment Managers, L.P.

as Investment Advisor

    By:   /s/    SAVITRI ALEX                 Savitri Alex         Authorized
Signatory

 

19

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

Merrill Lynch Credit Products, LLC, as Lender By:   /s/    NEYDA DARIAS        

Name:

  Neyda Darias

Title:

  Vice President Mountain Capital CLO1 Ltd. ________________________, as Lender
(Type or print legal name of Lender) By:   /s/    CHRIS SIDDONS        

Name:

  Chris Siddons

Title:

  Director MUIRFIELD TRADING LLC, as Lender By:   /s/    MEREDITH J.
KOSLICK         Name:   Meredith J. Koslick Title:   Assistant Vice President
Natexis Banques Populaires

                                             , as Lender

(Type or print legal name of Lender)

By:   /s/    TEFTA GHILAGA         Name:   Tefta Ghilaga Title:   Vice President
    /s/    FRANK H. MADDEN, JR.             Frank H. Madden, Jr.     Vice
President & Group Manager

New York Life Insurance and Annuity Corporation,

as Lender

By:   New York Life Investment Management LLC,     its Investment Manager By:  
/s/    ROBERT H. DIAL         Name:   Robert H. Dial Title:   Director New York
Life Insurance Company, as Lender By:   /s/    ROBERT H. DIAL         Name:  
Robert H. Dial Title:   Investment Vice President

NYLIM Flatiron CLO 2003-1 Ltd., as Lender

By:   New York Life Investment Management LLC,     as Collateral Manager and
Attorney-in-Fact By:   /s/    ROBERT H. DIAL         Name:   Robert H. Dial
Title:   Director

 

20

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

RIVIERA FUNDING LLC, as Lender By:   /s/    MEREDITH J. KOSLICK        

Name:

  Meredith J. Koslick

Title:

  Assistant Vice President ROSEMONT CLO, Ltd. By:   Deerfield Capital Management
LLC as its Collateral Manager By:   /s/    DALE BURROW        

Name:

  Dale Burrow

Title:

  Senior Vice President SEQUILS-Cumberland I, Ltd. By:   Deerfield Capital
Management LLC as its Collateral Manager By:   /s/    DALE BURROW        

Name:

  Dale Burrow

Title:

  Senior Vice President SunAmerica Life Insurance Company

By: AIG Global Investment Corp.,

Its Investment Adviser,

as Lender

By:   /s/    STEVEN S. OH        

Name:

  Steven S. Oh

Title:

  Managing Director

 

21

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

CONSENT

 

Dated as of October 20, 2004

 

Reference is hereby made to (a) the Credit Agreement dated as of December 26,
2002 (as amended, supplemented or otherwise modified as of the date hereof, the
“Credit Agreement”), among PERKINELMER, INC., a Massachusetts corporation, the
several banks and other financial institutions or entities from time to time
parties to the Credit Agreement (collectively, the “Lenders”), certain agents
and arrangers, and BANK OF AMERICA, N.A., as administrative agent for the
Lenders and as Issuing Lender and Alternative Rate Lender, (b) Amendment No. 4
to the Credit Agreement dated as of October 20, 2004 (the “Amendment”;
capitalized terms not otherwise defined herein are being used herein as defined
in the Amendment and in the Credit Agreement) and (c) the other Loan Documents
referred to therein.

 

Each of the undersigned, in its capacity as Guarantor and as Grantor under the
Guarantee and Collateral Agreement, hereby (a) consents to the execution,
delivery and performance of the Amendment and (b) agrees that the Guarantee and
Collateral Agreement (i) is, and shall continue to be, in full force and effect
and is hereby in all respects ratified and confirmed on the Effective Date,
except that, on and after the Effective Date, each reference to “the Credit
Agreement”, “thereunder”, “thereof”, “therein” or words of like import referring
to the Credit Agreement shall mean and be a reference to the Credit Agreement,
as amended and otherwise modified by the Amendment and (ii) continues to (A)
secure and hereafter secures all Obligations (as such term is defined in the
Guarantee and Collateral Agreement) and (B) guarantee and hereafter guarantees
all the Borrower Obligations (as such term is defined in the Guarantee and
Collateral Agreement) under the Loan Documents, including, without limitation,
the Credit Agreement.

 

This Consent shall be governed by, and construed in accordance with, the laws of
the State of New York.

 

Delivery of an executed counterpart of a signature page of this Consent by
telecopier shall be effective as the delivery of a manually executed counterpart
of this Consent.

 

[Signatures on following pages]

 

22

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

APPLIED SURFACE TECHNOLOGY, INC.

By   /s/    DAVID C. FRANCISCO        

Name:

  David C. Francisco

Title:

  Assistant Treasurer

CARL CONSUMABLE PRODUCTS, LLC

By   /s/    DAVID C. FRANCISCO        

Name:

  David C. Francisco

Title:

  Assistant Treasurer

LUMEN TECHNOLOGIES, INC.

By   /s/    JOHN L. HEALY        

Name:

  John L. Healy

Title:

  President

PKI MASSACHUSETTS TRUST

By   /s/    JOHN L. HEALY        

Name:

  John L. Healy

Title:

  President

PERKINELMER LAS, INC.

By   /s/    DAVID C. FRANCISCO        

Name:

  David C. Francisco

Title:

  Assistant Treasurer

PERKINELMER OPTOELECTRONICS NC, INC.

By   /s/    JOHN L. HEALY        

Name:

  John L. Healy

Title:

  Vice President

PERKINELMER OPTOELECTRONICS SC, INC.

By   /s/    JOHN L. HEALY        

Name:

  John L. Healy

Title:

  Vice President

 

23

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

PERKINELMER HOLDINGS, INC.

By   /s/    JOHN L. HEALY        

Name:

  John L. Healy

Title:

  Vice President PERKINELMER AUTOMOTIVE RESEARCH, INC. By   /s/    DAVID C.
FRANCISCO        

Name:

  David C. Francisco

Title:

  Assistant Treasurer

 

24