Exhibit 10.2

EXECUTION COPY

AMENDMENT NO. 4 TO SIXTH AMENDED AND RESTATED

RECEIVABLES PURCHASE AGREEMENT

This AMENDMENT NO. 4 TO SIXTH AMENDED AND RESTATED RECEIVABLES PURCHASE
AGREEMENT, dated as of February 2, 2018 (this “Amendment”), is by and among
MANITOWOC CAYMAN ISLANDS FUNDING LTD., as the Seller (the “Seller”), WELBILT,
INC. (f/k/a Manitowoc Foodservice, Inc.) (“Welbilt”), GARLAND COMMERCIAL RANGES
LIMITED, CONVOTHERM-ELEKTROGERÄTE GMBH (“Convotherm”), WELBILT DEUTSCHLAND GMBH
(f/k/a Manitowoc Deutschland GmbH) (“Welbilt Deutschland”), WELBILT UK LIMITED
(f/k/a Manitowoc Foodservice UK Limited) (“Foodservice UK”) and WELBILT ASIA
PACIFIC PRIVATE LIMITED (f/k/a Manitowoc Foodservice Asia Pacific Private
Limited) (“Foodservice Asia”), as Servicers (the “Servicers”), and WELLS FARGO
BANK, N.A., as Purchaser (the “Purchaser”) and as Agent (the “Agent”).

WHEREAS, the parties hereto are parties to that certain Sixth Amended and
Restated Receivables Purchase Agreement, dated as of March 3, 2016 (as amended,
restated, supplemented or otherwise modified from time to time, the
“Agreement”);

WHEREAS, the parties hereto wish to modify the Agreement upon the terms hereof.

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

SECTION 1. Definitions. Capitalized terms defined in the Agreement and used but
not otherwise defined herein shall have the meanings assigned thereto in the
Agreement.

SECTION 2. Amendments. The Agreement is hereby amended as follows:

(a) Each reference to the defined term “Manitowoc” in the Agreement and in any
related document or agreement shall be deemed to be a reference to “Welbilt”.

(b) Each reference to the defined term “Manitowoc Deutschland” in the Agreement
and in any related document or agreement shall be deemed to be a reference to
“Welbilt Deutschland”.

(c) Clauses (a) and (b) of the definition of “Change in Control” set forth in
Exhibit I of the Agreement are replaced in their entirety with the following:

(a) with respect to Welbilt, (i) the acquisition of ownership, directly or
indirectly, beneficially or of record, by any Person or group (within the
meaning of the Securities Exchange Act of 1934 and the rules of the Securities
and Exchange Commission thereunder as in effect on the Closing Date) of Equity
Interests representing more than thirty percent (30%) of the

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aggregate ordinary voting power represented by the issued and outstanding Equity
Interests of Welbilt, (ii) occupation of a majority of the seats (other than
vacant seats) on the board of directors of Welbilt by Persons who were neither
(x) nominated, appointed or approved by the board of directors of Welbilt nor
(y) appointed by directors so nominated, appointed or approved, (iii) the
acquisition of direct or indirect Control of Welbilt by any Person or group or
(iv) a “Change in Control” as defined in the Credit Agreement;

(b) with respect to any Originator, (i) the acquisition of ownership, directly
or indirectly, beneficially or of record, by any Person or group (within the
meaning of the Securities Exchange Act of 1934 and the rules of the Securities
and Exchange Commission thereunder as in effect on the Closing Date), other than
Welbilt (or a Subsidiary of Welbilt), of any membership interests or Equity
Interests of such Originator, (ii) occupation of a majority of the seats (other
than vacant seats) on the board of directors of such Originator by Persons who
were neither (x) nominated, appointed or approved by the board of directors of
such Originator nor (y) appointed by directors so nominated, appointed or
approved, or (iii) the acquisition of direct or indirect Control of such
Originator by any Person or group other than Welbilt (or a Subsidiary of
Welbilt);

(d) Clause (s) of Section 1 of Exhibit IV to the Agreement is replaced in its
entirety with the following:

(s) Financial Covenants.

(i) [Reserved].

(ii) Maximum Consolidated Total Leverage Ratio. Welbilt shall cause the
Consolidated Total Leverage Ratio at all times during the fiscal quarters of
Welbilt set forth below to be less than the applicable Maximum Consolidated
Total Leverage Ratio. For purposes of this clause (ii), “Maximum Consolidated
Total Leverage Ratio” shall mean the applicable ratio set forth in the table
below opposite the applicable fiscal quarter or such other maximum ratio with
respect to Consolidated Total Leverage Ratio for such fiscal quarter set forth
in the Credit Agreement, but only to the extent both (a) Welbilt has requested
the Agent consent to such revision and (b) such revised maximum ratio has been
consented to in writing by the Agent on or after the date such maximum ratio has
been modified in the Credit Agreement, the Agent’s response to such request not
to be unreasonably delayed.

 

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Fiscal Quarter Ending

        Ratio  

December 31, 2017

        5.25:1.00  

March 31, 2018

        5.25:1.00  

June 30, 2018

        5.25:1.00  

September 30, 2018

        5.00:1.00  

December 31, 2018

        4.75:1.00  

March 31, 2019

        4.50:1.00  

June 30, 2019

        4.25:1.00  

September 30, 2019 and each fiscal quarter thereafter

        4.00:1.00  

(iii) Minimum Consolidated Interest Coverage Ratio. Welbilt shall not permit the
Consolidated Interest Coverage Ratio for any fiscal quarter of Welbilt set forth
below to be less than the applicable Minimum Consolidated Interest Coverage
Ratio. For purposes of this clause (iii), “Minimum Consolidated Interest
Coverage Ratio” shall mean the applicable ratio set forth in the table below
opposite the applicable fiscal quarter or such other minimum ratio with respect
to Consolidated Interest Coverage Ratio for such fiscal quarter set forth in the
Credit Agreement, but only to the extent both (a) Welbilt has requested the
Agent consent to such revision and (b) such revised minimum ratio has been
consented to in writing by the Agent on or after the date such minimum ratio has
been modified in the Credit Agreement, the Agent’s response to such request not
to be unreasonably delayed.

 

Fiscal Quarter Ending

        Ratio  

March 31, 2016

        2.00:1.00  

June 30, 2016

        2.00:1.00  

September 30, 2016

        2.25:1.00  

December 31, 2016

        2.25:1.00  

March 31, 2017

        2.50:1.00  

June 30, 2017

        2.50:1.00  

September 30, 2017

        2.75:1.00  

December 31, 2017 and each fiscal quarter thereafter

        3.00:1.00  

SECTION 3. Representations and Warranties. On the date hereof, the Seller and
each of the Servicers hereby represents and warrants (as to itself) to the
Purchaser and the Agent as follows:

(a) after giving effect to this Amendment, no event or condition has occurred
and is continuing which constitutes a Termination Event or Unmatured Termination
Event;

(b) after giving effect to this Amendment, the representations and warranties of
such Person set forth in the Agreement and each of the other Transaction
Documents are true and correct as of the date hereof, as though made on and as
of such date (except to the extent such representations and warranties relate
solely to an earlier date and then as of such earlier date); and

 

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(c) this Amendment constitutes the valid and binding obligation of such Person,
enforceable against such Person in accordance with its terms.

SECTION 4. Effect of Amendment.

(a) All provisions of the Agreement, as expressly amended and modified by this
Amendment, shall remain in full force and effect. On and after the Effective
Date, all references in the Agreement (or in any other Transaction Document) to
“this Agreement,” “hereof,” “herein” or words of similar effect referring to the
Agreement shall be deemed to be references to the Agreement as amended by this
Amendment. This Amendment shall not be deemed, either expressly or impliedly, to
waive, amend or supplement any provision of the Agreement other than as set
forth herein.

(b) The execution, delivery and effectiveness of this Amendment shall not
operate as a waiver of any right, power or remedy of the Agent or the Purchaser
pursuant to any Transaction Document or any other instrument, document or
agreement executed and/or delivered in connection therewith, nor constitute a
waiver of any provision contained therein.

SECTION 5. Effectiveness. This Amendment shall be effective, as of the date
hereof (the “Effective Date”), upon receipt by the Agent of the following (in
each case, in form and substance reasonably satisfactory to the Agent):

(a) counterparts of this Amendment duly executed by each of the parties hereto;

(b) a fully executed copy of Amendment No. 4 to Credit Agreement, dated on or
prior to the date hereof, which amendments the maximum Consolidated Total
Leverage Ratio covenant to match the levels set forth in this Amendment; and

(c) such other agreements, documents, officer certificates and instruments as
the Agent shall request prior to the date hereof.

SECTION 6. GOVERNING LAW. THIS AMENDMENT, INCLUDING THE RIGHTS AND DUTIES OF THE
PARTIES HERETO, SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE
INTERNAL LAWS OF THE STATE OF NEW YORK (INCLUDING SECTIONS 5-1401 AND 5-1402 OF
THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK, BUT WITHOUT REGARD TO ANY
OTHER CONFLICT OF LAWS PROVISIONS THEREOF).

SECTION 7. Counterparts. This Amendment may be executed in any number of
counterparts, each of which when so executed shall be deemed to be an original
and all of which when taken together shall constitute one and the same
agreement. This Amendment may be executed by facsimile or delivery of a “.pdf”
copy of an executed counterpart hereof.

 

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SECTION 8. Severability. Each provision of this Amendment shall be severable
from every other provision of this Amendment for the purpose of determining the
legal enforceability of any provision hereof, and the unenforceability of one or
more provisions of this Amendment in one jurisdiction shall not have the effect
of rendering such provision or provisions unenforceable in any other
jurisdiction.

SECTION 9. No Party Deem Drafter. Each of the parties hereto hereby agrees that
no party hereto shall be deemed to be the drafter of this Amendment.

SECTION 10. Headings. The captions and headings of this Amendment are for
convenience of reference only and shall not affect the interpretation of this
Amendment, the Agreement or any provision hereof or thereof.

[Signature pages follow]

 

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

 

MANITOWOC CAYMAN ISLANDS FUNDING LTD., as the Seller By:   /s/ Haresh Shah

Name: Haresh Shah

Title: Vice President

Amendment No. 4 to Sixth Amended and

Restated Receivables Purchase Agreement

 

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WELBILT, INC., as a Servicer By:   /s/ Haresh Shah

Name: Haresh Shah

Title: Senior Vice President and Chief Financial Officer

Amendment No. 4 to Sixth Amended and

Restated Receivables Purchase Agreement

 

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GARLAND COMMERCIAL RANGES LIMITED, as a Servicer By:   /s/ Haresh Shah

Name: Haresh Shah

Title: Vice President

Amendment No. 4 to Sixth Amended and

Restated Receivables Purchase Agreement

 

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CONVOTHERM-ELEKTROGERÄTE GMBH, as a Servicer By:   /s/ Ralf Klein

Name: Ralf Klein

Title: MD

Amendment No. 4 to Sixth Amended and

Restated Receivables Purchase Agreement

 

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WELBILT DEUTSCHLAND GMBH, as a Servicer By:   /s/ Hans-Werner Schmidt

Name: Hans-Werner Schmidt

Title: Managing Director

Amendment No. 4 to Sixth Amended and

Restated Receivables Purchase Agreement

 

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WELBILT UK LIMITED, as a Servicer By:   /s/ Christopher Cammoile

Name: C. Cammoile

Title: Director

Amendment No. 4 to Sixth Amended and

Restated Receivables Purchase Agreement

 

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WELBILT ASIA PACIFIC PRIVATE LIMITED, as a Servicer By:   /s/ Lam Teck Yeow,
Leonard

Name: Lam Teck Yeow, Leonard

Title: Director

Amendment No. 4 to Sixth Amended and

Restated Receivables Purchase Agreement

 

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WELLS FARGO BANK, N.A.,

as Agent

By:   /s/ Patrick McConnell

Name: Patrick McConnell

Title: Director

 

WELLS FARGO BANK, N.A.,

as Purchaser

By:   /s/ Patrick McConnell

Name: Patrick McConnell

Title: Director

 

Amendment No. 4 to Sixth Amended and

Restated Receivables Purchase Agreement

 

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