Exhibit 10.3
 
SECOND AMENDMENT TO THE
RESTRUCTURING AND LOCK UP AGREEMENT

WHEREAS, the Parties entered into that certain Restructuring and Lock Up
Agreement, dated as of September 3, 2009 and amended on September 14, 2009 (the
“Agreement”) for the purpose of mutually agreeing to the terms of a pre-packaged
bankruptcy filing of the Nortek Parties;

WHEREAS, the Agreement provides that (a) no later than October 20, 2009, the
Nortek Parties shall file voluntary petitions for relief under chapter 11 of the
Bankruptcy Code, (b) the Agreement may be terminated by a specified vote of the
Consenting Debtholders on October 20, 2009, unless the Nortek Parties have
commenced chapter 11 cases and (c) the Forbearance Period shall terminate on the
earlier of (i) the Commencement Date, (ii) the date of an occurrence of a
Forbearance Default or (iii) October 20, 2009;

WHEREAS, in entering into the Agreement, it was the intention of the Parties
thereto that the Nortek Parties would commence their chapter 11 cases no later
than October 20, 2009;

WHEREAS, the Agreement provides that once effective, it may be amended in
accordance with Section 8 of the Agreement; and
 
 
WHEREAS, the Nortek Parties and the Consenting Debtholders constituting the
Requisite Debtholder Consent have agreed to enter into this amendment of the
Agreement (this “Second Amendment”) to amend the Agreement, effective as of
October 19, 2009, to extend the date by which the Nortek Parties shall be
required to commence the chapter 11 cases.

NOW, THEREFORE, in consideration of the foregoing, the mutual agreements and
covenants contained herein, and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto
agree as follows:

1.           In Section 2.01 of the Agreement, “October 20, 2009” shall be
deleted, and “11:59 PM, prevailing Eastern time, on October 27, 2009” shall be
inserted in lieu thereof.

2.           In Section 3.03(a)(iii) of the Agreement, “October 20, 2009” shall
be deleted, and “11:59 PM, prevailing Eastern time, on October 27, 2009” shall
be inserted in lieu thereof.

3.           In Section 7.01(g) of the Agreement, “October 20, 2009” shall be
deleted, and “11:59 PM, prevailing Eastern time, on October 27, 2009” shall be
inserted in lieu thereof.

4.           The Parties also clarify and confirm their agreement that Section
11.6 of the Prepackaged Plan is intended to provide that each Person who is
entitled to receive a distribution under the Prepackaged Plan shall release all
“Released Parties” (as defined in the Prepackaged Plan) in respect of any and
all applicable Claims, demands, causes of action and the like that such Person
may have (including, without limitation, any NTK 10-3/4% Notes Claims or NTK
Holdings Senior Secured Loan Claims (each as defined in the Prepackaged Plan)
such Person may hold), without regard to whether or not the Prepackaged Plan is
confirmed with respect to NTK Holdings and/or Nortek Holdings.

5.           This Second Amendment may be executed in one or more counterparts,
each of which, when so executed, shall constitute an original and all of which
shall constitute one instrument.  The counterparts may be delivered by facsimile
transmission or by electronic mail in portable document format (.pdf).

6.           This Second Amendment shall be effective as of October 19, 2009,
upon the execution of the Nortek Parties and the Consenting Debtholders
constituting the Requisite Debtholder Consent, and shall only be amended in
accordance with Section 8 of the Agreement.

7.           Except as specifically amended or consented to herein, there are no
other amendments, modifications, or other alterations to the Agreement.

8.           Capitalized terms not defined herein shall have the meanings given
to them in the Agreement, and in the event of any inconsistency between the two,
the Agreement shall control.
IN WITNESS WHEREOF, the Parties have executed this Second Amendment on the day
and year first above written.
 

 
NTK HOLDINGS, INC.
 
By:  /s/Kevin W. Donnelly
Name:  Kevin W. Donnelly
Title:    Vice President, General Counsel
 
NORTEK HOLDINGS, INC.
 
By:  /s/Kevin W. Donnelly
Name:  Kevin W. Donnelly
Title:    Vice President, General Counsel
 
NORTEK, INC.
 
By:  /s/Kevin W. Donnelly
Name:  Kevin W. Donnelly
Title:    Vice President, General Counsel

 

 

 
AIGIS MECHTRONICS, INC.
BROAN-MEXICO HOLDINGS, INC.
BROAN-NUTONE LLC
BROAN-NUTONE STORAGE SOLUTIONS LP
CES GROUP, INC.
CES INTERNATIONAL LTD.
CLEANPAK INTERNATIONAL, INC.
ELAN HOME SYSTEMS, L.L.C.
GEFEN, INC.
GOVERNAIR CORPORATION
GTO, INC.
HC INSTALLATIONS, INC.
HUNTAIR, INC.
INTERNATIONAL ELECTRONICS, INC.
LINEAR H.K. LLC
LINEAR LLC
LITE TOUCH, INC.
MAGENTA RESEARCH LTD.
MAMMOTH-WEBCO, INC.
NILES AUDIO CORPORATION
NORDYNE INC.
NORDYNE INTERNATIONAL, INC.
NORTEK INTERNATIONAL, INC.
NUTONE LLC
OMNIMOUNT SYSTEMS, INC.
OPERATOR SPECIALTY COMPANY, INC.
PACIFIC ZEPHYR RANGE HOOD, INC.
PANAMAX INC.
RANGAIRE GP, INC.
RANGAIRE LP, INC.
SECURE WIRELESS, INC.
SPEAKERCRAFT, INC.
TEMTROL, INC.
WDS LLC
XANTECH CORPORATION
ZEPHYR CORPORATION
 
 
By:        /s/ Kevin W. Donnelly
Name:  Kevin W. Donnelly
Title:     Vice President and Secretary
 
(of entity listed or as an officer of the managing member, sole member or
general partner)

 
 

 
Capital Research and Management Company, for and on behalf of various funds it
manages
 
By:  /s/ Michael J. Downer
Name:  Michael J. Downer
Title:   Senior Vice President
 
Address:   333 South Hope Street, 55th Floor
     Los Angeles, CA 90071
Attn:            Kristine Nishiyama
Tel:             (213) 486-9652
Fax:            (213) 615-0430
 
Aggregate principal amount of Notes beneficially owned or managed on behalf of
accounts that hold or beneficially own such Notes:
 
8-1/2% Notes: _________________
10% Notes  ____________________

 

 
[CONSENTING DEBTHOLDER]
 
By:  ACOF Operating Manager III, LLC, its manager
Name:  Jeffrey Schwartz
Title:     Vice President
 
Address:
Attn:
Tel:
Fax:
 
Aggregate principal amount of Notes beneficially owned or managed on behalf of
accounts that hold or beneficially own such Notes:
 
8-1/2% Notes: _________________
10% Notes:  ____________________
10-3/4% Notes: ________________

IN WITNESS WHEREOF, the Parties have executed this Agreement on the day and year
first written above.

 
GOLDMAN SACHS ASSET
MANAGEMENT, L.P.,  on behalf of its
Advised clients listed on the Schedule
attached hereto
 
By:  /s/ Roberta Goss
Name:  Roberta Goss
Title:     Managing Director
 
Address:   32 Old Slip
24th Floor
New York, NY 10005
Attn:       Roberta Goss
Tel:        212-902-1000
E-mail:   Roberta.goss@gs.com
 
with a copy to:
 
Jon Yoder
1 New York Plaza
New York, NY 10004
Tel:        212-902-1000
Fax:       212-256-5597
E-mail    jon.yoder@gs.com
 
 

Schedule to Goldman Sachs Asset Management, L.P. signature page

Advised Client
Aggregate
Principal Amount
of 8-1/2% Notes
Aggregate
Principal Amount
of 102% Notes
Aggregate
Principal Amount
of 10-3/4% Notes
Alaska Permanent Fund Corporation
     
Universal-Investment-GmbH re/Bayvk R2
     
California State Teachers' Retirement Systems
     
Goldman Sachs Collective Trust High Yield Implementation Vehicle
     
Daughters of Charity Fund P
     
Investeringsforeningen Laegernes
Pensioninvesterings
     
Goldman Sachs High Yield Fund
     
Goldman Sachs Global High Yield Portfolio II
     
Lyondell Master Trust
     
Helaba Invest Kapitalanlagegesellschaft re/OSD
     
Blackrock Investment Management (UK) Limited
     
Cominvest Asset Management S.A.
     
Factory Mutual Insurance Company
     
State Street Bank & Trust Company, as trustee for First Plaza Group Trust II
     
Goldman Sachs Global High Yield Bond Sub-Trust
     
JPMorgan Chase 401(k) Savings Plan
     
Kern County Employees' Retirement Association (KCERA)
     
Goldman Sachs Liquidity Partners 2007, L.P.
     
Goldman Sachs Liquidity Partners 2007 Offshore, L.P.
     
Mediolanum Asset Management Ltd.
     
MeadWestvaco Corporation Master Retirement Trust
     
Goldman Sachs Global Opportunities Fund, LLC
     
Goldman Sachs Global Opportunities Fund Offshore, Ltd.
     
The Regents of the University of California Pioneer Austria Re. ORF
     
GuideStone Funds: Medium Duration Bond Fund
     
Goldman Sachs Collective Trust Core Plus Fixed Income Fund
     
Ford Motor Company Master Trust Fund
     
Universal Investment GmbH re/ Hewlett Packard Trust e.V.
     
PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO
     
Internationale Kapitalanlagegesellschaft GmbH re/TGV PB24
     
Orizaha, LP
     

 
Fidelity Management &
Research Company
on behalf of
Fidelity Central Investment Portfolios LLC: Fidelity High Income Central Fund 2
 
By:  /s/ J. Gregory Wass
Name:  J. Gregory Wass
Title:    Assistant Treasurer
 
Address:   Fidelity Investments
    82 Devonshire Street, V13H
    Boston, MA 02109
Attn:           Nate Van Duzer
Tel:            617-392-8129
Fax:           617-392-1605
 
Aggregate principal amount of Notes beneficially owned or managed on behalf of
accounts that hold or beneficially own such Notes:
 
8-1/2% Notes: _________________
10% Notes:  ____________________
10-3/4% Notes: ________________

 
Fidelity Management &
Research Company
on behalf of
Variable Insurance Products Fund V: Strategic Income Portfolio
 
By:  /s/ J. Gregory Wass
Name:  J. Gregory Wass
Title:   Assistant Treasurer
 
Address:   Fidelity Investments
    82 Devonshire Street, V13H
    Boston, MA 02109
Attn:           Nate Van Duzer
Tel:            617-392-8129
Fax:           617-392-1605
 
Aggregate principal amount of Notes beneficially owned or managed on behalf of
accounts that hold or beneficially own such Notes:
 
8-1/2% Notes: _________________
10% Notes:  ____________________
10-3/4% Notes: ________________

 
Fidelity Management &
Research Company
on behalf of
Fidelity School Street Trust: Fidelity Strategic Income Fund
 
By:  /s/ J. Gregory Wass
Name:  J. Gregory Wass
Title:   Assistant Treasurer
 
Address:   Fidelity Investments
    82 Devonshire Street, V13H
    Boston, MA 02109
Attn:           Nate Van Duzer
Tel:            617-392-8129
Fax:           617-392-1605
 
Aggregate principal amount of Notes beneficially owned or managed on behalf of
accounts that hold or beneficially own such Notes:
 
8-1/2% Notes: _________________
10% Notes:  ____________________
10-3/4% Notes: ________________

 
Fidelity Management &
Research Company
on behalf of
Fidelity Advisor Series II:  Fidelity Advisor Strategic Income Fund
 
By:  /s/ J. Gregory Wass
Name:  J. Gregory Wass
Title:   Assistant Treasurer
 
Address:   Fidelity Investments
    82 Devonshire Street, V13H 
    Boston, MA 02109
Attn:           Nate Van Duzer
Tel:            617-392-8129
Fax:           617-392-1605
 
Aggregate principal amount of Notes beneficially owned or managed on behalf of
accounts that hold or beneficially own such Notes:
 
8-1/2% Notes: _________________
10% Notes:  ____________________
10-3/4% Notes: ________________

 
Fidelity Management &
Research Company
on behalf of
Fidelity Summer Street Trust: Fidelity Capital & Income Fund
 
By:  /s/ J. Gregory Wass
Name:  J. Gregory Wass
Title:   Assistant Treasurer
 
Address:   Fidelity Investments
    82 Devonshire Street, V13H
    Boston, MA 02109
Attn:           Nate Van Duzer
Tel:            617-392-8129
Fax:           617-392-1605
 
Aggregate principal amount of Notes beneficially owned or managed on behalf of
accounts that hold or beneficially own such Notes:
 
8-1/2% Notes: _________________
10% Notes:  ____________________
10-3/4% Notes: ________________

 
Fidelity Management &
Research Company
on behalf of
Fidelity Summer Street Trust: Fidelity High Income Fund
 
By:  /s/ J. Gregory Wass
Name:  J. Gregory Wass
Title:   Assistant Treasurer
 
Address:   Fidelity Investments
    82 Devonshire Street, V13H
    Boston, MA 02109
Attn:           Nate Van Duzer
Tel:            617-392-8129
Fax:           617-392-1605
 
Aggregate principal amount of Notes beneficially owned or managed on behalf of
accounts that hold or beneficially own such Notes:
 
8-1/2% Notes: _________________
10% Notes:  ____________________
10-3/4% Notes: ________________

 
Fidelity Management &
Research Company
on behalf of
Fidelity Puritan Trust: Fidelity Puritan Fund
 
By:  /s/ J. Gregory Wass
Name:  J. Gregory Wass
Title:   Assistant Treasurer
 
Address:   Fidelity Investments
    82 Devonshire Street, V13H
    Boston, MA 02109
Attn:           Nate Van Duzer
Tel:            617-392-8129
Fax:           617-392-1605
 
Aggregate principal amount of Notes beneficially owned or managed on behalf of
accounts that hold or beneficially own such Notes:
 
8-1/2% Notes: _________________
10% Notes:  ____________________
10-3/4% Notes: ________________

 
Fidelity Management &
Research Company
on behalf of
Master Trust Bank of Japan Ltd. Re: Fidelity US High Yield
 
By:  /s/ J. Gregory Wass
Name:  J. Gregory Wass
Title:   Assistant Treasurer
 
Address:   Fidelity Investments
    82 Devonshire Street, V13H
    Boston, MA 02109
Attn:           Nate Van Duzer
Tel:            617-392-8129
Fax:           617-392-1605
 
Aggregate principal amount of Notes beneficially owned or managed on behalf of
accounts that hold or beneficially own such Notes:
 
8-1/2% Notes: _________________
10% Notes:  ____________________
10-3/4% Notes: ________________

 
Fidelity Management &
Research Company
on behalf of
Fidelity Funds – US High Income
 
By:  /s/ J. Gregory Wass
Name:  J. Gregory Wass
Title:   Assistant Treasurer
 
Address:   Fidelity Investments
    82 Devonshire Street, V13H
    Boston, MA 02109
Attn:           Nate Van Duzer
Tel:            617-392-8129
Fax:           617-392-1605
 
Aggregate principal amount of Notes beneficially owned or managed on behalf of
accounts that hold or beneficially own such Notes:
 
8-1/2% Notes: _________________
10% Notes:  ____________________
10-3/4% Notes: ________________

 
The Assets Management Committee of Coca-Cola Company Master Retirement Trust
 
By:  /s/ Dave Censorio
Name:  Dave Censorio
Title:   Vice President
 
Address:   Fidelity Investments
    82 Devonshire Street, V13H
    Boston, MA 02109
Attn:           Nate Van Duzer
Tel:            617-392-8129
Fax:           617-392-1605
 
Aggregate principal amount of Notes beneficially owned or managed on behalf of
accounts that hold or beneficially own such Notes:
 
8-1/2% Notes: _________________
10% Notes:  ____________________
10-3/4% Notes: ________________

 
Pyramis High Yield Fund, LLC
 
By:  /s/ Dave Censorio
Name:  Dave Censorio
Title:   Vice President
 
Address:   Fidelity Investments
    82 Devonshire Street, V13H
    Boston, MA 02109
Attn:           Nate Van Duzer
Tel:            617-392-8129
Fax:           617-392-1605
 
Aggregate principal amount of Notes beneficially owned or managed on behalf of
accounts that hold or beneficially own such Notes:
 
8-1/2% Notes: _________________
10% Notes:  ____________________
10-3/4% Notes: ________________

 
Illinois Municipal Retirement Fund
 
By:  /s/ Dave Censorio
Name:  Dave Censorio
Title:   Vice President
 
Address:   Fidelity Investments
    82 Devonshire Street, V13H
    Boston, MA 02109
Attn:           Nate Van Duzer
Tel:            617-392-8129
Fax:           617-392-1605
 
Aggregate principal amount of Notes beneficially owned or managed on behalf of
accounts that hold or beneficially own such Notes:
 
8-1/2% Notes: _________________
10% Notes:  ____________________
10-3/4% Notes: ________________

 
The Japan Trustee Service Bank LTD Re: MATB Fidelity High Yield Bond Open Mother
 
By:  /s/ Dave Censorio
Name:  Dave Censorio
Title:   Vice President
 
Address:   Fidelity Investments
    82 Devonshire Street, V13H
    Boston, MA 02109
Attn:           Nate Van Duzer
Tel:            617-392-8129
Fax:           617-392-1605
 
Aggregate principal amount of Notes beneficially owned or managed on behalf of
accounts that hold or beneficially own such Notes:
 
8-1/2% Notes: _________________
10% Notes:  ____________________
10-3/4% Notes: ________________

 
Fidelity Global Bond Series-US Dollar Monthly Income-US High Yield Pool
 
By:  /s/ Dave Censorio
Name:  Dave Censorio
Title:   Vice President
 
Address:   Fidelity Investments
    82 Devonshire Street, V13H
    Boston, MA 02109
Attn:           Nate Van Duzer
Tel:            617-392-8129
Fax:           617-392-1605
 
Aggregate principal amount of Notes beneficially owned or managed on behalf of
accounts that hold or beneficially own such Notes:
 
8-1/2% Notes: _________________
10% Notes:  ____________________
10-3/4% Notes: ________________

 
IG CAA High Yield Sec
 
By:  /s/ Dave Censorio
Name:  Dave Censorio
Title:   Vice President
 
Address:   Fidelity Investments
    82 Devonshire Street, V13H
    Boston, MA 02109
Attn:           Nate Van Duzer
Tel:            617-392-8129
Fax:           617-392-1605
 
Aggregate principal amount of Notes beneficially owned or managed on behalf of
accounts that hold or beneficially own such Notes:
 
8-1/2% Notes: _________________
10% Notes:  ____________________
10-3/4% Notes: ________________

 
The Japan Trustee Services Bank LTD Re: STB Fidelity Strategic Income Fund
Mother
 
By:  /s/ Dave Censorio
Name:  Dave Censorio
Title:   Vice President
 
Address:   Fidelity Investments
    82 Devonshire Street, V13H
    Boston, MA 02109
Attn:           Nate Van Duzer
Tel:            617-392-8129
Fax:           617-392-1605
 
Aggregate principal amount of Notes beneficially owned or managed on behalf of
accounts that hold or beneficially own such Notes:
 
8-1/2% Notes: _________________
10% Notes:  ____________________
10-3/4% Notes: ________________

 
Fidelity Investments Canada ULC, As Trustee of The Fidelity Balanced High Income
Fund
 
By:  /s/ Peter Bowen
Name:  Peter Bowen
Title:   VP & Fund Treasurer
 
Address:   Fidelity Investments
    82 Devonshire Street, V13H
    Boston, MA 02109
Attn:           Nate Van Duzer
Tel:            617-392-8129
Fax:           617-392-1605
 
Aggregate principal amount of Notes beneficially owned or managed on behalf of
accounts that hold or beneficially own such Notes:
 
8-1/2% Notes: _________________
10% Notes:  ____________________
10-3/4% Notes: ________________

 
Fidelity Investments Canada ULC, As Trustee of The Fidelity American High Yield
Fund
 
By:  /s/ Peter Bowen
Name:  Peter Bowen
Title:   VP & Fund Treasurer
 
Address:   Fidelity Investments
    82 Devonshire Street, V13H
    Boston, MA 02109
Attn:           Nate Van Duzer
Tel:            617-392-8129
Fax:           617-392-1605
 
Aggregate principal amount of Notes beneficially owned or managed on behalf of
accounts that hold or beneficially own such Notes:
 
8-1/2% Notes: _________________
10% Notes:  ____________________
10-3/4% Notes: ________________

 
Fidelity Investments Canada ULC, As Trustee of The Fidelity Canadian Asset
Allocation Fund
 
By:  /s/ Peter Bowen
Name:  Peter Bowen
Title:   VP & Fund Treasurer
 
Address:   Fidelity Investments
    82 Devonshire Street, V13H
    Boston, MA 02109
Attn:           Nate Van Duzer
Tel:            617-392-8129
Fax:           617-392-1605
 
Aggregate principal amount of Notes beneficially owned or managed on behalf of
accounts that hold or beneficially own such Notes:
 
8-1/2% Notes: _________________
10% Notes:  ____________________
10-3/4% Notes: ________________

 
Franklin Advisers, Inc.
 
By:  /s/ Edward D. Perks
Name:  Edward D. Perks
Title:     Senior Vice President
 
Franklin Templeton Investments
One Franklin Parkway
San Mateo, CA 94403
 
Attn:              Christine P. Villaluz
Tel:                650-312-3032
Fax:               916-463-1984
 
Aggregate principal amount of Notes beneficially owned or managed on behalf of
accounts that hold or beneficially own such Notes:
 
8-1/2% Notes: _________________
10% Notes:  ____________________
10-3/4% Notes: ________________