Exhibit 10.2

 

 

 

CUSTOMER REFERENCE:  00000001305680

 

 

 

 

 

 

DATE OF AMENDMENT:  MARCH 3, 2004

 

AMENDMENT TO LETTER OF CREDIT NO.:

 

 

1S1305680

 

 

DATE OF ISSUE:  JANUARY 23, 2002

 

 

 

 

 

 

ISSUING BANK:

 

APPLICANT:

FLEET NATIONAL BANK

 

WATTS INDUSTRIES, INC.

C/O GLOBAL TRADE OPERATIONS

 

815 CHESTNUT ST.

1 FLEET WAY, MAIL STOP:  PAEH0802SM

 

NORTH ANDOVER, MA 01845

SCRANTON PA 18507-1999

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

BENEFICIARY:

 

 

ACE PROPERTY AND CASUALTY INSURANCE

 

 

COMPANY AND PACIFIC EMPLOYERS'

 

 

INSURANCE COMPANY

 

 

1601 CHESTNUT ST.

 

 

PHILADELPHIA, PA.  19103-0000

 

 

ATTN:  COLLATERAL MANAGER

 

 

 

 

 

 

THE ABOVE MENTIONED CREDIT IS AMENDED AS FOLLOWS:

 

 

 

THE AMOUNT OF THIS CREDIT HAS BEEN INCREASED BY USD 8,347,667.00

THE AMOUNT OF THE CREDIT ISSUED NOW TOTALS USD 20,195,267.00

 

 

 

 

 

 

 

 

 

 

 

 

ALL CORRESPONDENCE INCLUDING PRESENTATIONS UNDER THIS LETTER OF CREDIT SHALL BE
SENT TO FLEET NATIONAL BANK, ATTN: GLOBAL TRADE OPERATIONS DEPT., STANDBY UNIT,
1 FLEET WAY, SCRANTON, PA 18507.

 

 

 

ALL OTHER TERMS AND CONDITIONS REMAIN UNCHANGED.

 

 

 

 

 

 

 

 

/s/ [Illegible]

 

 

AUTHORIZED SIGNATURE

 

 

 

 

 

 

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THIS IS AN INTEGRAL PART OF LETTER OF CREDIT/ADVICE NUMBER: 1S1305680

 

 

 

THIS DOCUMENT CONSISTS OF 2 PAGE(S).

 

 

2

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