Exhibit 10.1

 

EXECUTION VERSION

 

SECOND AMENDMENT TO CREDIT AGREEMENT

 

This SECOND AMENDMENT TO CREDIT AGREEMENT (this “Amendment”), dated as of
February 26, 2008, among ADOBE SYSTEMS INCORPORATED, a Delaware corporation
(“Borrower”), each lender from time to time party to the Credit Agreement
referred to below (each, a “Lender”, and collectively, the “Lenders”), and BANK
OF AMERICA, N.A., as Administrative Agent (in such capacity, the “Administrative
Agent”).

 

RECITALS

 

A.            THE BORROWER, THE LENDERS, AND THE ADMINISTRATIVE AGENT ARE PARTY
TO A CREDIT AGREEMENT DATED AS OF FEBRUARY 16, 2007, AS AMENDED BY THAT
AMENDMENT TO CREDIT AGREEMENT DATED AS OF AUGUST 13, 2007 (AS SO AMENDED, THE
“CREDIT AGREEMENT”), PURSUANT TO WHICH THE ADMINISTRATIVE AGENT AND THE LENDERS
HAVE EXTENDED CERTAIN CREDIT FACILITIES TO THE BORROWER.

 

B.            THE BORROWER HAS REQUESTED THAT THE ADMINISTRATIVE AGENT AND THE
LENDERS AGREE TO AN EXTENSION OF THE MATURITY DATE.  AFTER TAKING INTO ACCOUNT
CERTAIN ASSIGNMENTS OF COMMITMENTS BY CERTAIN LENDERS, THE LENDERS ARE EACH
WILLING TO EXTEND THE EXISTING MATURITY DATE BY ONE YEAR, SUBJECT TO THE TERMS
AND CONDITIONS HEREOF.

 

NOW, THEREFORE, for valuable consideration, the receipt and adequacy of which
are hereby acknowledged, the parties hereto hereby agree as follows:

 

1.             DEFINED TERMS.  UNLESS OTHERWISE DEFINED HEREIN, CAPITALIZED
TERMS USED HEREIN SHALL HAVE THE MEANINGS, IF ANY, ASSIGNED TO SUCH TERMS IN THE
CREDIT AGREEMENT.  AS USED HEREIN, “AMENDMENT DOCUMENTS” MEANS THIS AMENDMENT,
THE CREDIT AGREEMENT (AS AMENDED BY THIS AMENDMENT), AND EACH CERTIFICATE AND
OTHER DOCUMENT EXECUTED AND DELIVERED BY THE BORROWER PURSUANT TO SECTION 5
HEREOF.

 

2.             INTERPRETATION.  THE RULES OF INTERPRETATION SET FORTH IN
SECTIONS 1.02, 1.03, 1.04, 1.05, 1.06 AND 1.07 OF THE CREDIT AGREEMENT SHALL BE
APPLICABLE TO THIS AMENDMENT AND ARE INCORPORATED HEREIN BY THIS REFERENCE.

 

3.             AMENDMENTS TO CREDIT AGREEMENT.  SUBJECT TO THE TERMS AND
CONDITIONS HEREOF, AND WITH EFFECT FROM AND AFTER THE EFFECTIVE DATE, THE CREDIT
AGREEMENT SHALL BE AMENDED AS FOLLOWS:

 

(A)           SECTION 1.01 OF THE CREDIT AGREEMENT SHALL BE AMENDED AT THE
DEFINITION OF “MATURITY DATE” BY DELETING THE PHRASE “FEBRUARY 16, 2012” AND
INSERTING IN LIEU THEREOF “FEBRUARY 16, 2013”.

 

(B)           SCHEDULE 2.01 OF THE CREDIT AGREEMENT SHALL BE AMENDED AND
RESTATED TO READ AS SET FORTH AT ANNEX I HERETO.

 

4.             REPRESENTATIONS AND WARRANTIES.  THE BORROWER HEREBY REPRESENTS
AND WARRANTS TO THE ADMINISTRATIVE AGENT AND THE LENDERS AS FOLLOWS:

 

(a)           No Default has occurred and is continuing.

 

1

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

 

(B)           THE EXECUTION, DELIVERY AND PERFORMANCE BY THE BORROWER OF THIS
AMENDMENT HAVE BEEN DULY AUTHORIZED BY ALL NECESSARY CORPORATE AND OTHER ACTION
AND DO NOT AND WILL NOT REQUIRE ANY REGISTRATION WITH, CONSENT OR APPROVAL OF,
OR NOTICE TO OR ACTION BY, ANY PERSON (INCLUDING ANY GOVERNMENTAL AUTHORITY) IN
ORDER TO BE EFFECTIVE AND ENFORCEABLE.

 

(C)           THE AMENDMENT DOCUMENTS CONSTITUTE THE LEGAL, VALID AND BINDING
OBLIGATIONS OF THE BORROWER AND ARE ENFORCEABLE AGAINST IT IN ACCORDANCE WITH
THEIR RESPECTIVE TERMS, WITHOUT DEFENSE, COUNTERCLAIM OR OFFSET.

 

(D)           ALL REPRESENTATIONS AND WARRANTIES OF THE BORROWER CONTAINED IN
ARTICLE V OF THE CREDIT AGREEMENT ARE TRUE AND CORRECT ON AND AS OF THE
EFFECTIVE DATE, EXCEPT TO THE EXTENT THAT ANY SUCH REPRESENTATION AND WARRANTY
SPECIFICALLY RELATES TO AN EARLIER DATE, IN WHICH CASE THEY WERE TRUE AND
CORRECT AS OF SUCH EARLIER DATE.

 

(E)           THE BORROWER IS ENTERING INTO THIS AMENDMENT ON THE BASIS OF ITS
OWN INVESTIGATION AND FOR ITS OWN REASONS, WITHOUT RELIANCE UPON THE
ADMINISTRATIVE AGENT, THE LENDERS OR ANY OTHER PERSON.

 

(F)            THERE EXIST NO SUBSIDIARY GUARANTORS OR DESIGNATED BORROWERS AS
OF THE EFFECTIVE DATE.

 

5.             EFFECTIVE DATE.

 

(A)           THIS AMENDMENT WILL BECOME EFFECTIVE WHEN EACH OF THE FOLLOWING
CONDITIONS PRECEDENT HAS BEEN SATISFIED (THE “EFFECTIVE DATE”):

 

(I)            THE ADMINISTRATIVE AGENT SHALL HAVE RECEIVED FROM THE BORROWER
AND EACH OF THE LENDERS A DULY EXECUTED ORIGINAL (OR, IF ELECTED BY THE
ADMINISTRATIVE AGENT, AN EXECUTED FACSIMILE COPY) COUNTERPART TO THIS AMENDMENT.

 

(II)           THE ADMINISTRATIVE AGENT SHALL HAVE RECEIVED IN RELATION TO EACH
ASSIGNMENT OF LOANS AND COMMITMENTS UNDERTAKEN IN CONNECTION WITH THIS AMENDMENT
(TOGETHER, “ADDITIONAL COMMITMENT LENDERS”) A FULLY-EXECUTED ORIGINAL (OR, IF
ELECTED BY THE ADMINISTRATIVE AGENT, AN EXECUTED FACSIMILE COPY) COUNTERPART TO
THE ASSIGNMENT AND ASSUMPTION RELATING THERETO, IN COMPLIANCE WITH
SECTION 10.06(B) OF THE CREDIT AGREEMENT, TOGETHER WITH THE PROCESSING FEE (IF
ANY) REQUIRED UNDER SECTION 10.06(B)(IV), WHICH ASSIGNMENTS AND ASSUMPTIONS
SHALL BE DEEMED EFFECTIVE IMMEDIATELY PRIOR TO THE EFFECTIVE DATE.

 

(III)          THE ADMINISTRATIVE AGENT SHALL HAVE RECEIVED FROM THE BORROWER A
CERTIFICATE SIGNED BY THE SECRETARY OR ASSISTANT SECRETARY OF THE BORROWER,
DATED THE EFFECTIVE DATE, IN FORM AND SUBSTANCE SATISFACTORY TO THE
ADMINISTRATIVE AGENT, AND CERTIFYING EVIDENCE OF THE AUTHORIZATION OF THE
EXECUTION, DELIVERY AND PERFORMANCE BY THE BORROWER OF THIS AMENDMENT.

 

(IV)          THE ADMINISTRATIVE AGENT SHALL HAVE RECEIVED FROM THE BORROWER A
CERTIFICATE EXECUTED BY A RESPONSIBLE OFFICER OF THE BORROWER, IN FORM AND
SUBSTANCE SATISFACTORY TO THE ADMINISTRATIVE AGENT, DATED THE EFFECTIVE DATE,
AND CERTIFYING THAT ALL

 

2

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

 

REPRESENTATIONS AND WARRANTIES CONTAINED HEREIN ARE TRUE AND CORRECT AS OF THE
EFFECTIVE DATE, AS THOUGH MADE ON SUCH DATE.

 

(V)           THE ADMINISTRATIVE AGENT SHALL HAVE RECEIVED, IN FORM AND
SUBSTANCE SATISFACTORY TO IT, SUCH ADDITIONAL APPROVALS, CONSENTS, OPINIONS,
DOCUMENTS AND OTHER INFORMATION AS THE ADMINISTRATIVE AGENT SHALL REQUEST.

 

(B)           FOR PURPOSES OF DETERMINING COMPLIANCE WITH THE CONDITIONS
SPECIFIED IN THIS SECTION 5, EACH LENDER THAT HAS EXECUTED THIS AMENDMENT AND
DELIVERED IT TO THE ADMINISTRATIVE AGENT SHALL BE DEEMED TO HAVE CONSENTED TO,
APPROVED OR ACCEPTED, OR TO BE SATISFIED WITH, EACH DOCUMENT OR OTHER MATTER
EITHER SENT, OR MADE AVAILABLE FOR INSPECTION, BY THE ADMINISTRATIVE AGENT TO
SUCH LENDER FOR CONSENT, APPROVAL, ACCEPTANCE OR SATISFACTION, OR REQUIRED
THEREUNDER TO BE CONSENTED TO OR APPROVED BY OR ACCEPTABLE OR SATISFACTORY TO
SUCH LENDER.

 

(C)           FROM AND AFTER THE EFFECTIVE DATE, THE CREDIT AGREEMENT IS AMENDED
OR MODIFIED AS SET FORTH HEREIN.  EXCEPT AS EXPRESSLY AMENDED OR MODIFIED
PURSUANT HERETO, THE CREDIT AGREEMENT SHALL REMAIN UNCHANGED AND IN FULL FORCE
AND EFFECT AND IS HEREBY RATIFIED AND CONFIRMED IN ALL RESPECTS.

 

(D)           THE ADMINISTRATIVE AGENT WILL NOTIFY THE BORROWER AND THE LENDERS
OF THE OCCURRENCE OF THE EFFECTIVE DATE.

 

6.             RESERVATION OF RIGHTS.  THE BORROWER ACKNOWLEDGES AND AGREES THAT
NEITHER THE EXECUTION NOR THE DELIVERY BY THE ADMINISTRATIVE AGENT AND THE
LENDERS OF THIS AMENDMENT, SHALL BE DEEMED TO CREATE A COURSE OF DEALING OR
OTHERWISE OBLIGATE THE ADMINISTRATIVE AGENT OR THE LENDERS TO EXECUTE SIMILAR
AMENDMENTS UNDER THE SAME OR SIMILAR CIRCUMSTANCES IN THE FUTURE.

 

7.             MISCELLANEOUS.

 

(A)           THIS AMENDMENT SHALL BE BINDING UPON AND INURE TO THE BENEFIT OF
THE PARTIES HERETO AND THERETO AND THEIR RESPECTIVE SUCCESSORS AND ASSIGNS.  NO
THIRD PARTY BENEFICIARIES ARE INTENDED IN CONNECTION WITH THIS AMENDMENT.

 

(B)           THIS AMENDMENT IS SUBJECT TO THE PROVISIONS OF SECTIONS 10.14,
10.15 AND 10.16 OF THE CREDIT AGREEMENT RELATING TO GOVERNING LAW, VENUE, WAIVER
OF RIGHT TO TRIAL BY JURY AND JUDICIAL REFERENCE, THE PROVISIONS OF WHICH ARE BY
THIS REFERENCE INCORPORATED HEREIN IN FULL.

 

(C)           THIS AMENDMENT MAY BE EXECUTED IN ANY NUMBER OF COUNTERPARTS, EACH
OF WHICH SHALL BE DEEMED AN ORIGINAL, BUT ALL SUCH COUNTERPARTS TOGETHER SHALL
CONSTITUTE BUT ONE AND THE SAME INSTRUMENT.  TRANSMISSION OF SIGNATURES OF ANY
PARTY BY FACSIMILE SHALL FOR ALL PURPOSES BE DEEMED THE DELIVERY OF ORIGINAL,
EXECUTED COUNTERPARTS THEREOF AND THE ADMINISTRATIVE AGENT IS HEREBY AUTHORIZED
TO MAKE SUFFICIENT PHOTOCOPIES THEREOF TO ASSEMBLE COMPLETE COUNTERPARTY
DOCUMENTS.

 

3

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

 

(D)           THIS AMENDMENT, TOGETHER WITH THE OTHER AMENDMENT DOCUMENTS AND
THE CREDIT AGREEMENT, CONTAIN THE ENTIRE AND EXCLUSIVE AGREEMENT OF THE PARTIES
HERETO WITH REFERENCE TO THE MATTERS DISCUSSED HEREIN AND THEREIN.  THIS
AMENDMENT SUPERSEDES ALL PRIOR DRAFTS AND COMMUNICATIONS WITH RESPECT THERETO. 
THIS AMENDMENT MAY NOT BE AMENDED EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF
SECTION 10.01 OF THE CREDIT AGREEMENT.

 

(E)           IF ANY TERM OR PROVISION OF THIS AMENDMENT SHALL BE DEEMED
PROHIBITED BY OR INVALID UNDER ANY APPLICABLE LAW, SUCH PROVISION SHALL BE
INVALIDATED WITHOUT AFFECTING THE REMAINING PROVISIONS OF THIS AMENDMENT OR THE
CREDIT AGREEMENT, RESPECTIVELY.

 

(F)            THE BORROWER COVENANTS TO PAY TO OR REIMBURSE (I) THE
ADMINISTRATIVE AGENT, UPON DEMAND, FOR ALL COSTS AND EXPENSES INCURRED IN
CONNECTION WITH THE DEVELOPMENT, PREPARATION, NEGOTIATION, EXECUTION AND
DELIVERY OF THIS AMENDMENT, AND (II) TO THE ADMINISTRATIVE AGENT FOR THE BENEFIT
OF THE LENDERS WHO ARE ASSIGNING COMMITMENTS AND LOANS TO THE ADDITIONAL
COMMITMENT LENDERS, AMOUNTS SPECIFIED UNDER SECTION 3.05(D) OF THE CREDIT
AGREEMENT (AS THOUGH SUCH ASSIGNMENT WERE REQUESTED BY THE BORROWER PURSUANT TO
SECTION 10.13 THEREOF), UPON DEMAND.

 

(G)           THIS AMENDMENT SHALL CONSTITUTE A “LOAN DOCUMENT” UNDER AND AS
DEFINED IN THE CREDIT AGREEMENT.

 

[Remainder of this page intentionally left blank]

 

*  *  *

 

4

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

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly
executed as of the date first above written.

 

 

ADOBE SYSTEMS INCORPORATED, as the
Borrower

 

 

 

 

 

 

 

By:

 /s/ Mark Garrett

 

 

 

 

Name:

Mark Garrett

 

 

 

 

Title:

Executive VP and Chief Financial Officer

 

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

 

 

BANK OF AMERICA, N.A., as Administrative
Agent

 

 

 

 

 

 

 

By:

 /s/ Robert Rittelmeyer

 

 

 

 

Name:

Robert Rittelmeyer

 

 

 

 

Title:

Vice President

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

By:

 /s/ Kevin McMahon

 

 

 

 

Name:

Kevin McMahon

 

 

 

 

Title:

Senior Vice President

 

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

 

 

JPMORGAN CHASE BANK, N.A.

 

 

 

 

 

 

 

By:

 /s/ Anthony Galea

 

 

 

 

Name:

Anthony Galea

 

 

 

 

Title:

Vice President

 

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

 

 

ABN AMRO BANK, N.V.

 

 

 

 

 

 

 

By:

 /s/ Sarabelle Hitchner

 

 

 

 

Name:

Sarabelle Hitchner

 

 

 

 

Title:

Senior Vice President

 

 

 

 

 

 

 

 

 

 

 

 

 

By:

 /s/ Kathryn Schutz

 

 

 

 

Name:

Kathryn Schutz

 

 

 

 

Title:

Associate

 

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

 

 

BANK OF TOKYO-MITSUBISHI UFJ

 

TRUST COMPANY

 

 

 

 

 

 

 

By:

 /s/ Patrick Reidy

 

 

 

 

Name:

Patrick Reidy

 

 

 

 

Title:

Senior Vice President

 

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

 

 

BNP PARIBAS

 

 

 

 

 

 

 

By:

 /s/ William Davidson

 

 

 

 

Name:

William Davidson

 

 

 

 

Title:

Director

 

 

 

 

 

 

 

 

 

 

 

 

 

By:

 /s/ Mathew Harvey

 

 

 

 

Name:

Mathew Harvey

 

 

 

 

Title:

Managing Director

 

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

 

 

CITIBANK, N.A.

 

 

 

 

 

 

 

By:

 /s/ William S. Timmons, III

 

 

 

 

Name:

William S. Timmons, III

 

 

 

 

Title:

Vice President

 

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

 

 

KEYBANK NATIONAL ASSOCIATION

 

 

 

 

 

 

 

By:

 /s/ Raed Y. Alfayoumi

 

 

 

 

Name:

Raed Y. Alfayoumi

 

 

 

 

Title:

Vice President

 

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

 

 

THE NORTHERN TRUST COMPANY

 

 

 

 

 

 

 

By:

 /s/ John Brazzale

 

 

 

 

Name:

John Brazzale

 

 

 

 

Title:

Senior Vice President

 

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

 

 

SOCIETE GENERALE

 

 

 

 

 

 

 

By:

 /s/ Nigel Elvey

 

 

 

 

Name:

Nigel Elvey

 

 

 

 

Title:

Vice President

 

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

 

 

SUMITOMO MITSUI BANKING
CORPORATION

 

 

 

 

 

 

 

By:

 /s/ Leo E. Pagarigan

 

 

 

 

Name:

Leo E. Pagarigan

 

 

 

 

Title:

General Manager

 

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

 

 

MORGAN STANLEY BANK

 

 

 

 

 

 

 

By:

 /s/ Daniel Twenge

 

 

 

 

Name:

Daniel Twenge

 

 

 

 

Title:

Authorized Signatory

 

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

 

 

STATE STREET BANK AND TRUST
COMPANY

 

 

 

 

 

 

 

By:

 /s/ Janet B. Nolin

 

 

 

 

Name:

Janet B. Nolin

 

 

 

 

Title:

Vice President

 

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

 

 

WACHOVIA BANK, NATIONAL
ASSOCIATION

 

 

 

 

 

 

 

By:

 /s/ John G. Taylor

 

 

 

 

Name:

John G. Taylor

 

 

 

 

Title:

Director

 

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

 

 

AIG-FP CAPITAL PRESERVATION CORP.

 

 

 

 

 

By:

 /s/ Diane Cenci

 

 

 

Name:

Diane Cenci

 

 

 

Title:

Chief Financial Officer and Treasurer

 

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

 

ANNEX I
TO SECOND AMENDMENT

 

SCHEDULE 2.01

 

COMMITMENTS
AND APPLICABLE PERCENTAGES

 

Lender

 

Commitment

 

Applicable
Percentage

 

Bank of America, N.A.

 

$

115,000,000

 

11.500000000

%

JPMorgan Chase Bank, N.A.

 

$

105,000,000

 

10.500000000

%

Bank of Tokyo-Mitsubishi UFJ Trust Company

 

$

95,000,000

 

9.500000000

%

BNP Paribas

 

$

94,000,000

 

9.400000000

%

KeyBank National Association

 

$

80,000,000

 

8.000000000

%

Wachovia Bank, National Association

 

$

80,000,000

 

8.000000000

%

Societe Generale

 

$

80,000,000

 

8.000000000

%

Morgan Stanley Bank

 

$

70,000,000

 

7.000000000

%

AIG-FP Capital Preservation Corp.

 

$

60,000,000

 

6.000000000

%

Citibank, N.A.

 

$

60,000,000

 

6.000000000

%

Sumitomo Mitsui Banking Corporation

 

$

60,000,000

 

6.000000000

%

The Northern Trust Company

 

$

50,000,000

 

5.000000000

%

ABN AMRO Bank, N.V.

 

$

31,000,000

 

3.100000000

%

State Street Bank and Trust Company

 

$

20,000,000

 

2.000000000

%

Total

 

$

1,000,000,000

 

100.000000000

%

 

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