Exhibit 10.2

FIRST AMENDMENT TO THE CREDIT AGREEMENT

FIRST AMENDMENT (this “Amendment”), dated as of September 9, 2014, to the Credit
Agreement dated as of May 27, 2014 (as amended, supplemented, amended and
restated or otherwise modified from time to time, the “Credit Agreement”), among
Signet Group Limited, Signet Group Treasury Services Inc. and Sterling Jewelers
Inc. (collectively, the “Borrowers”), Signet Jewelers Limited (the “Parent”),
the several banks and other financial institutions or entities from time to time
party thereto (the “Lenders”), JPMorgan Chase Bank, N.A., as Administrative
Agent (in such capacity, the “Administrative Agent”), and the other agents party
thereto.

W I T N E S S E T H :

WHEREAS, the parties hereto are parties to the Credit Agreement;

WHEREAS, the Borrowers have requested that the Lenders agree to make certain
amendments to the Credit Agreement as set forth herein; and

WHEREAS, the Required Lenders are willing to agree to such amendments and other
matters, subject to the terms and conditions set forth herein.

NOW, THEREFORE, in consideration of the premises herein contained and for other
good and valuable consideration, the receipt of which is hereby acknowledged,
the parties hereto agree as follows:

SECTION 1.    DEFINITIONS.

1.1 Unless otherwise defined herein, capitalized terms which are defined in the
Credit Agreement are used herein as therein defined.

SECTION 2.    AMENDMENTS.

2.1 The definitions of “Consolidated EBITDA” and “Consolidated Net Interest
Expense” in Section 1.01 of the Credit Agreement are hereby amended by replacing
such definitions in their entirety with the following definitions:

(a) “Consolidated EBITDA” means, in respect of any Relevant Period, Consolidated
Net Income plus, to the extent included in determining Consolidated Net Income,
(i) interest expense (including, without limitation, interest expense under
Capital Lease Obligations that is treated as interest in accordance with GAAP)
for such Relevant Period (including, without limitation, all commissions,
discounts and other fees and charges owed with respect to letters of credit and
bankers acceptance financing and net costs under interest rate Swap Agreements,
the amortization of any debt financing and/or receivables financing fees, costs
and expenses (or fees, costs and expenses of any amendment related thereto) and
the amount of all fees, costs and expenses which have been incurred and/or paid
by a member of the Group in relation to the execution and delivery of, or any
amendment to, the Existing Credit Agreement, this Agreement, the Loan Documents
or documentation in connection with any other debt financing and/or receivables
financing, (ii) income tax expenses (benefits), (iii) depreciation and
(iv) amortization, all calculated for the Group in accordance with GAAP on a
consolidated basis; provided that, for the avoidance of doubt, Consolidated
EBITDA shall exclude any material profits or losses recognized that result from
the sale of a long-lived asset or a disposal group regardless of whether such a
sale qualifies as a discontinued operation under FASB ASC 205-20, the costs
associated with exit activities (as defined under FASB ASC 420-10 “Exit or
Disposal Cost Obligations”), material infrequently occurring items and
extraordinary items (in the case of extraordinary items as defined in FASB ASC
225-20 “Extraordinary and Unusual Items”) for such Relevant Period and as
identified on the Compliance Certificate. For the purposes of calculating
Consolidated EBITDA for any Relevant Period pursuant to any determination of the
Leverage Ratio, (i) if at any time during such Relevant

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Period any member of the Group shall have made any Material Disposition, the
Consolidated EBITDA for such Relevant Period shall be reduced by an amount equal
to the Consolidated EBITDA (if positive) attributable to the property that is
the subject of such Material Disposition for such Relevant Period or increased
by an amount equal to the Consolidated EBITDA (if negative) attributable thereto
for such Relevant Period and (ii) if during such Relevant Period any member of
the Group shall have made a Material Acquisition, Consolidated EBITDA for such
Relevant Period shall be calculated after giving pro forma effect thereto as if
such Material Acquisition occurred on the first day of such Relevant Period. As
used in this definition, “Material Acquisition” means any acquisition of
property or series of related acquisitions of property that (a) constitutes
assets comprising all or substantially all of an operating unit of a business or
constitutes all or substantially all of the common stock of a Person and
(b) involves the payment of consideration by members of the Group in excess of
$50,000,000; and “Material Disposition” means any Disposition of property or
series of related Dispositions of property that yields gross proceeds to members
of the Group in excess of $50,000,000.

(b) “Consolidated Net Interest Expense” means, in respect of any Relevant
Period, the interest expense required to be paid in cash or accrued (including
without limitation interest expense under Capital Lease Obligations that is
treated as interest in accordance with GAAP) of the Group calculated on a
consolidated basis for such Relevant Period (including, without limitation, all
commissions, discounts and other fees and charges owed with respect to letters
of credit and bankers acceptance financing and net costs under interest rate
Swap Agreements to the extent such net costs are allocable to such Relevant
Period) in accordance with GAAP, minus the amount of any interest income
received in cash or accrued by the Group in or in respect of such Relevant
Period (including, without limitation, any periodic commission, fees, discounts
and other finance payments receivable by the Group under any interest rate
and/or currency hedging agreements or instruments).

SECTION 3.    CONDITIONS PRECEDENT. This Amendment shall become effective on the
date (the “Effective Date”) on which all of the following conditions have been
satisfied or waived:

(a)     Execution and Delivery. The Administrative Agent shall have received
counterparts of this Amendment duly executed by (i) the Borrowers and (ii) the
Required Lenders.

(b)     No Default. Both prior to and after giving effect to this Amendment, no
Default or Event of Default shall have occurred and be continuing on the
Effective Date.

(c)     Representations and Warranties. As of the Effective Date (both prior to
and after giving effect to this Amendment) all representations and warranties
contained in Section 4 shall be true and correct in all material respects.

For the purpose of determining compliance with the conditions specified in this
Section 3, each Lender that has signed this Amendment shall be deemed to have
accepted, and to be satisfied with, each document or other matter required under
this Section 3.

SECTION 4.    REPRESENTATIONS AND WARRANTIES. In order to induce the Required
Lenders to enter into this Amendment, each Borrower hereby represents and
warrants to the Required Lenders that (a) this Amendment has been duly
authorized by all necessary organizational actions and, if required, actions by
equity holders of such Borrower and (b) this Amendment has been duly executed
and delivered by such Borrower and constitutes a legal, valid and binding
obligation of such Borrower, enforceable in accordance with its terms, subject
to applicable bankruptcy, insolvency, reorganization, moratorium or other laws
affecting creditors’ rights generally and subject to general principles of
equity, regardless of whether considered in a proceeding in equity or at law.

SECTION 5.    CONTINUING EFFECT. Except as expressly amended, waived or modified
hereby, the Loan Documents shall continue to be and shall remain in full force
and effect in accordance with their respective

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terms. This Amendment shall not constitute an amendment, waiver or modification
of any provision of any Loan Document not expressly referred to herein and shall
not be construed as an amendment, waiver or modification of any action on the
part of the Borrowers or the other Loan Parties that would require an amendment,
waiver or consent of the Administrative Agent or the Lenders except as expressly
stated herein, or be construed to indicate the willingness of the Administrative
Agent or the Lenders to further amend, waive or modify any provision of any Loan
Document amended, waived or modified hereby for any other period, circumstance
or event. Except as expressly modified by this Amendment, the Credit Agreement
and the other Loan Documents are ratified and confirmed and are, and shall
continue to be, in full force and effect in accordance with their respective
terms. Except as expressly set forth herein, each Lender and the Administrative
Agent reserves all of its rights, remedies, powers and privileges under the
Credit Agreement, the other Loan Documents, applicable law and/or equity. Any
reference to the “Credit Agreement” in any Loan Document or any related
documents shall be deemed to be a reference to the Credit Agreement as amended
by this Amendment and the term “Loan Documents” in the Credit Agreement and the
other Loan Documents shall include this Amendment.

SECTION 6.    GOVERNING LAW. THIS AMENDMENT SHALL BE CONSTRUED IN ACCORDANCE
WITH THE LAWS OF THE STATE OF NEW YORK.

SECTION 7.    SUCCESSORS AND ASSIGNS. This Amendment shall be binding upon and
inure to the benefit of the Borrowers, the other Loan Parties, the
Administrative Agent, the other Agents and the Lenders, and each of their
respective successors and assigns, and shall not inure to the benefit of any
third parties. The execution and delivery of this Amendment by any Lender prior
to the Effective Date shall be binding upon its successors and assigns and shall
be effective as to any Loans or Commitments assigned to it after such execution
and delivery.

SECTION 8.    ENTIRE AGREEMENT. This Amendment, the Credit Agreement and the
other Loan Documents represent the entire agreement of the Loan Parties, the
Administrative Agent, the Agents, the Lenders and the Lenders, as applicable,
with respect to the subject matter hereof and thereof, and there are no
promises, undertakings, representations or warranties by the Administrative
Agent, any other Agent or any Lender relative to the subject matter hereof not
expressly set forth or referred to herein or in the Credit Agreement or the
other Loan Documents.

SECTION 9.    LOAN DOCUMENT. This Amendment is a Loan Document executed pursuant
to the Credit Agreement and shall (unless otherwise expressly indicated herein)
be construed, administered and applied in accordance with the terms and
provisions of the Credit Agreement.

SECTION 10.    COUNTERPARTS. This Amendment may be executed by the parties
hereto in any number of separate counterparts and all of said counterparts taken
together shall be deemed to constitute one and the same instrument. An executed
signature page of this Amendment may be delivered by facsimile transmission or
electronic PDF of the relevant signature page hereof.

SECTION 11.    HEADINGS. Section headings used in this Amendment are for
convenience of reference only, are not part of this Amendment and are not to
affect the construction of, or to be taken into consideration in interpreting,
this Amendment.

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

 

SIGNET GROUP LIMITED, as a Borrower By:  

/s/ Mark Jenkins

  Name: Mark Jenkins   Title: Director

SIGNET GROUP TREASURY SERVICES INC.,

as a Borrower

By:  

/s/ Mark Jenkins

  Name: Mark Jenkins   Title: Vice President and Secretary

STERLING JEWELERS INC.,

as a Borrower

By:  

/s/ George S. Frankovich

  Name: George S. Frankovich   Title: Vice President and Secretary

 

[Signature Page to First Amendment]

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JPMORGAN CHASE BANK, N.A., as Administrative Agent and Lender By:  

/s/ Brendan Korb

  Name: Brendan Korb   Title: Vice President

 

[Signature Page to First Amendment]

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FIFTH THIRD BANK, as a Lender By:  

/s/ Martin H. Mc Ginty

  Name: Martin H. Mc Ginty   Title: Vice President

 

[Signature Page to First Amendment]

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PNC BANK, NATIONAL ASSOCIATION, as a Lender By:  

/s/ Valerie A. Geiger

  Name: Valerie A. Geiger   Title: Senior Vice President

 

[Signature Page to First Amendment]

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Citizens Bank, N.A., as a Lender By:  

/s/ Joshua Botnick

  Name: Joshua Botnick   Title: Vice President

 

[Signature Page to First Amendment]

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HSBC BANK USA, N.A., as a Lender By:  

/s/ Paul M. Angland

  Name: Paul M. Angland   Title: Vice President

 

[Signature Page to First Amendment]

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ABN AMRO CAPITAL USA, LLC, as a Lender By:  

/s/ Michael Mondazzi

  Name: Michael Mondazzi   Title: Vice President By:  

/s/ R. Bisscheroux

  Name: R. Bisscheroux   Title: Director

 

[Signature Page to First Amendment]

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BARCLAYS BANK PLC, as a Lender By:  

/s/ Aarti Rao

  Name: Aarti Rao   Title: Director

 

[Signature Page to First Amendment]

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STANDARD CHARTERED BANK, as a Lender By:  

/s/ Felipe Macia

  Name: Felipe Macia   Title: Managing Director Syndications, Americas By:  

/s/ Hsing H. Huang

  Name: Hsing H. Huang   Title: Associate Director

 

[Signature Page to First Amendment]

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

/s/ Mark D. Rodgers

  Name: Mark D. Rodgers   Title: Vice President

 

[Signature Page to First Amendment]

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WELLS FARGO BANK, N.A., as a Lender By:  

/s/ Beth Rue

  Name: Beth Rue   Title: Director

 

[Signature Page to First Amendment]