EXHIBIT 10.42
AMENDMENT NO. 2
Dated as of February 27, 2015
to
SECOND AMENDED AND RESTATED CREDIT AGREEMENT
Dated as of December 14, 2011
THIS AMENDMENT NO. 2 (this “Amendment”) is made as of February 27, 2015 by and
among (i) Franklin Electric Co., Inc., an Indiana corporation (the “US
Borrower”), Franklin Electric B.V., a Netherlands private company with limited
liability (besloten vennootschap met beperkte aansprakelijkheid) (the “Dutch
Borrower” and, together with the US Borrower, the “Borrowers”), (ii) the
financial institutions listed on the signature pages hereof and (iii) JPMorgan
Chase Bank, N.A., as Administrative Agent (the “Administrative Agent’), under
that certain Second Amended and Restated Credit Agreement dated as of December
14, 2011 by and among the Borrowers, the Lenders and the Administrative Agent
(as amended, restated, supplemented or otherwise modified from time to time, the
“Credit Agreement”). Capitalized terms used herein and not otherwise defined
herein shall have the respective meanings given to them in the Credit Agreement.
WHEREAS, the Borrowers have requested that the requisite Lenders and the
Administrative Agent agree to make certain amendments to the Credit Agreement;
and
WHEREAS, the Borrowers, the Lenders party hereto and the Administrative Agent
have so agreed on the terms and conditions set forth herein;
NOW, THEREFORE, in consideration of the premises set forth above, the terms and
conditions contained herein, and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the Borrowers, the
Lenders party hereto and the Administrative Agent hereby agree to enter into
this Amendment.
1.Amendments to the Credit Agreement. Effective as of the Amendment No. 2
Effective Date (as defined below), the parties hereto agree that the Credit
Agreement is hereby amended as follows:

(a)The definition of “Sanctioned Country” set forth in Section 1.01 of the
Credit Agreement is amended and restated in its entirety to read as follows:
“Sanctioned Country” means a country or territory which is itself at any time
subject to or the target of any comprehensive embargo under any Sanctions (as of
the Amendment No. 2 Effective Date, Crimea, Cuba, Iran, North Korea, Sudan and
Syria).
(b)Section 1.01 of the Credit Agreement is amended to add the following
definition thereto in the appropriate alphabetical order:
“Amendment No. 2 Effective Date” means February 27, 2015.
(c)Section 2.17 of the Credit Agreement is amended to insert the following as a
new clause (i) thereof:
(i) For purposes of determining withholding Taxes imposed under FATCA, from and
after the Amendment No. 2 Effective Date, the Borrowers and the Administrative
Agent shall treat (and the Lenders hereby authorize the Administrative Agent to
treat) this Agreement as not qualifying as a “grandfathered obligation” within
the meaning of Treasury Regulation Section 1.1471-2(b)(2)(i).

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(d)Section 3.19(b) of the Credit Agreement is amended and restated in its
entirety to read as follows:
(b)    None of such Borrower or to the best of its knowledge its Subsidiaries or
their respective directors, officers, employees, agents or representatives
acting or benefiting in any capacity in connection with this Agreement (i) is a
Designated Person; (ii) is a Person that is owned or controlled by a Designated
Person; (iii) is located, organized or resident in a Sanctioned Country; or (iv)
has directly or indirectly engaged in, or is now directly or indirectly engaged
in, any dealings or transactions (1) with any Designated Person, (2) in any
Sanctioned Country in violation of applicable Sanctions, or (3) otherwise in
violation of Sanctions applicable to any party to this Agreement.
(e)The Administrative Agent and the Lenders party hereto hereby waive any
noncompliance prior to the date hereof with Sections 3.19(b), 4.02 and Section
6.15 of the Credit Agreement solely as a result of the Specified Transactions.

2.Conditions of Effectiveness. The effectiveness of this Amendment (the
“Amendment No. 2 Effective Date”) is subject to the receipt by the
Administrative Agent of counterparts of (a) this Amendment duly executed by the
Borrowers, the Required Lenders and the Administrative Agent and (b) the Consent
and Reaffirmation attached hereto duly executed by the Guarantors.

3.Representations and Warranties of the Borrowers. Each Borrower hereby
represents and warrants as follows:

(a)This Amendment and the other Loan Documents to which such Borrower is a party
(any such Loan Document as modified hereby) constitute legal, valid and binding
obligations of such Borrower, enforceable against such Borrower in accordance
with their 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.
(b)As of the date hereof and after giving effect to the terms of this Amendment,
(i) no Default has occurred and is continuing and (ii) the representations and
warranties of the Borrowers set forth in the Credit Agreement (as amended
hereby) are true and correct in all material respects, except (1) to the extent
any such representation or warranty is stated to relate to an earlier date and
(2) for changes in the Schedules to the Credit Agreement reflecting transactions
after the Effective Date permitted by the Credit Agreement.

4.Reference to and Effect on the Credit Agreement.
(a)Upon the effectiveness hereof, each reference to the Credit Agreement in the
Credit Agreement or any other Loan Document shall mean and be a reference to the
Credit Agreement as amended hereby.
(b)The Credit Agreement and all other documents, instruments and agreements
executed and/or delivered in connection therewith shall remain in full force and
effect and are hereby ratified and confirmed.
(c)Except with respect to the subject matter hereof, the execution, delivery and
effectiveness of this Amendment shall not operate as a waiver of any right,
power or remedy of the Administrative Agent or the Lenders, nor constitute a
waiver of any provision of the Credit Agreement or any other documents,
instruments and agreements executed and/or delivered in connection therewith.
Furthermore, this Amendment and the subject matter hereof shall not constitute a
course of dealing or a consent to any departure by any Borrower from any other
term or requirement of the Credit Agreement or any other Loan Document or create
any implication that the Administrative Agent or the Lenders would be willing
under any circumstances in the future to provide the Borrowers with any
additional waivers, amendments or other accommodations.
(d)This Amendment is a Loan Document.

5.Governing Law. This Amendment shall be construed in accordance with and
governed by the law of the State of Illinois.

6.Headings. Section headings in this Amendment are included herein for
convenience of reference only and shall not constitute a part of this Amendment
for any other purpose.

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7.Counterparts. This Amendment may be executed by one or more of the parties
hereto on any number of separate counterparts, and all of said counterparts
taken together shall be deemed to constitute one and the same instrument.
Signatures delivered by electronic transmission shall have the same force and
effect as manual signatures delivered in person.
[Signature Pages Follow]

IN WITNESS WHEREOF, this Amendment has been duly executed as of the day and year
first above written.

FRANKLIN ELECTRIC CO., INC.,
as a Borrower

By:____________________________________
Name:
Title:

FRANKLIN ELECTRIC B.V.,
as a Borrower

By: Orangefield Trust (Netherlands) B.V., its Director A

By:____________________________________
Name:

By:____________________________________
Name:

By:____________________________________
Name: John Jay Haines
Title: Director B

JPMORGAN CHASE BANK, N.A.,
individually as a Lender and as Administrative Agent

By:_______________________________________
Name:
Title:

WELLS FARGO BANK, NATIONAL ASSOCIATION,
as a Lender

By:_______________________________________
Name:
Title:

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BANK OF AMERICA, N.A.,
as a Lender

By:_______________________________________
Name:
Title:

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

By:_______________________________________
Name:
Title:

DEUTSCHE BANK AG NEW YORK BRANCH,
as a Lender

By:_______________________________________
Name:
Title:

By:_______________________________________
Name:
Title:

CONSENT AND REAFFIRMATION
Each of the undersigned hereby acknowledges receipt of a copy of the foregoing
Amendment No. 2 to the Second Amended and Restated Credit Agreement dated as of
December 14, 2011 (as amended, restated, supplemented or otherwise modified, the
“Credit Agreement”) by and among Franklin Electric Co., Inc., Franklin Electric
B.V., the financial institutions from time to time party thereto (the “Lenders”)
and JPMorgan Chase Bank, N.A., as Administrative Agent (the “Administrative
Agent”), which Amendment No. 2 is dated as of February 27, 2015 (the
“Amendment”). Capitalized terms used in this Consent and Reaffirmation and not
defined herein shall have the meanings given to them in the Credit Agreement.
Without in any way establishing a course of dealing by the Administrative Agent
or any Lender, each of the undersigned consents to the Amendment and reaffirms
the terms and conditions of the Credit Agreement and any other Loan Document
executed by it and acknowledges and agrees that such Credit Agreement and each
and every such Loan Document executed by the undersigned in connection with the
Credit Agreement remains in full force and effect and is hereby reaffirmed,
ratified and confirmed. All references to the Credit Agreement contained in the
above‑referenced documents shall be a reference to the Credit Agreement as so
modified by the Amendment.
Dated: February 27, 2015

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FRANKLIN FUELING SYSTEMS, INC.
FRANKLIN ELECTRIC INTERNATIONAL, INC.
INTELLIGENT CONTROLS, INC.
each as a Guarantor

By: _________________________
Name:
Title: