Document:

EX-10.1

 Exhibit 10.1 

EXECUTION VERSION 

AMENDMENT NO. 3 TO 

AMENDED AND RESTATED CREDIT AGREEMENT 

This AMENDMENT NO. 3 TO AMENDED AND RESTATED CREDIT AGREEMENT (this “Amendment”) dated as of September 27, 2018,
is made by and among FRESH DEL MONTE PRODUCE INC., an exempted company duly incorporated under the laws of the Cayman Islands (the “Company”), certain Subsidiaries of the Company signatory hereto (each a
“Designated Borrower” and, together with the Company, the “Borrowers” and, each a “Borrower”), each of the undersigned Guarantors, BANK OF AMERICA, N.A., a national banking association
organized and existing under the laws of the United States (“Bank of America”), in its capacity as administrative agent for the Lenders generally (in such capacity, the “Administrative Agent”), L/C Issuer and
Swing Line Lender, and each of the Lenders under the Credit Agreement (defined below) (collectively, the “Lenders”) signatory hereto. Except as expressly provided herein, capitalized terms used but not otherwise defined herein
have the respective meanings ascribed to them in the Credit Agreement, as defined below after giving effect to this Amendment. 
 W I T
N E S S E T H: 
 WHEREAS, the Borrowers, Bank of America, as Administrative Agent, Swing Line Lender and L/C Issuer, and the
Lenders have entered into that Amended and Restated Credit Agreement dated as of April 16, 2015 (as amended, supplemented, restated or otherwise modified prior to the date hereof, the “Credit Agreement”), pursuant to which the
Lenders have made available to the Borrowers a revolving credit facility; 
 WHEREAS, the Guarantors and the Administrative Agent
entered into those Amended and Restated Subsidiary Guaranty Agreements dated as of April 16, 2015, pursuant to which the Guarantors agreed to guarantee payment of the Obligations; 

WHEREAS, the Borrowers have requested that the Lenders make certain amendments to the Credit Agreement; and 

WHEREAS, the Administrative Agent and the Lenders are willing to amend the Credit Agreement as set forth below on the terms and
conditions contained in this Agreement. 
 NOW, THEREFORE, in consideration of the premises and further valuable consideration, the
receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows: 
 1.    Amendment to
Credit Agreement. Effective as of the date hereof and subject to the terms and conditions set forth herein and in reliance upon representations and warranties set forth herein, the parties hereto agree that the Credit Agreement is amended as
follows: 
 (a)    Section 7.11(b) is amended and restated in its entirety to read as follows: 

 

 Consolidated Leverage Ratio. Permit the Consolidated Leverage Ratio
at any time during any period of four consecutive fiscal quarters of the Company to be greater than 3.50 to 1.00; provided that if at any time during any fiscal quarter the Consolidated Leverage Ratio is greater than 3.50 to 1.00 and a
Permitted Acquisition involving aggregate cash consideration (including assumed Indebtedness) of an amount equal to $100,000,000 or more has been consummated within such fiscal quarter (a fiscal quarter in which such conditions are satisfied, a
“Trigger Quarter”), then the Consolidated Leverage Ratio may be greater than 3.50 to 1.00 but shall not exceed 4.00 to 1.00 at any time during such Trigger Quarter and the next succeeding three fiscal quarters (such period, an
“Acquisition Compliance Period”); provided, however, notwithstanding the foregoing, for the fiscal quarters ending September 28, 2018, December 28, 2018, March 29, 2019 and June 28, 2019, the
Consolidated Leverage Ratio shall not exceed 4.50 to 1.00, for the fiscal quarters ending September 27, 2019 and December 27, 2019, the Consolidated Leverage Ratio shall not exceed 4.00 to 1.00, and for the fiscal quarter ending
March 27, 2020 the Consolidated Leverage Ratio shall not exceed 3.50 to 1.00; provided, further, that, following the occurrence of a Trigger Quarter, no subsequent Trigger Quarter may occur (and no further Acquisition Compliance
Period may commence) until the Consolidated Leverage Ratio has been less than or equal to 3.50 to 1.00 at all times during a fiscal quarter following the occurrence of the Trigger Quarter that began the most recent Acquisition Compliance Period.

 2.    Effectiveness; Conditions Precedent. The effectiveness of this Amendment and the amendment to the Credit
Agreement herein provided are subject to the satisfaction of the following conditions precedent: 

(a)    the Administrative Agent shall have received executed counterparts of this Amendment, duly executed
by each Borrower, each Subsidiary Guarantor, the Administrative Agent, and the Required Lenders; 

(b)    the Administrative Agent shall have received, for the benefit of each Lender party hereto, an
amendment fee in an amount equal to 0.03% of its Commitment; and 
 (c)    all other fees and expenses
payable to the Administrative Agent (unless waived by the Administrative Agent and the reasonable fees and expenses of counsel to the Administrative Agent to the extent invoiced prior to the date hereof) shall have been paid in full (without
prejudice to final settling of accounts for such fees and expenses). 
 3.    Consent and Confirmation of the
Guarantors. Each of the Guarantors hereby consents, acknowledges and agrees to the amendments set forth herein and hereby confirms and ratifies in all respects the Loan Documents to which such Guarantor is a party and the Guaranty (including
without limitation the continuation of each such Guarantor’s payment and performance obligations thereunder upon and after the effectiveness of this Amendment and the amendments contemplated hereby) and the enforceability of such Loan Documents
and the Guaranty against such Guarantor in accordance with their respective terms and the inclusion of all principal, interest and fees in respect of the Obligations under the Credit Agreement. 

  
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 4.    Representations and Warranties. In order to induce the
Administrative Agent and the Lenders to enter into this Amendment, the Borrowers represent and warrant to the Administrative Agent and the Lenders as follows: 

(a)    The representations and warranties contained in Article V of the Credit Agreement and in the
other Loan Documents are true and correct on and as of the Amendment Effective Date, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct as of such earlier
date; 
 (b)    The Persons appearing as Subsidiary Guarantors on the signature pages to this Amendment
constitute all Persons who are required to be Subsidiary Guarantors pursuant to the terms of the Credit Agreement and the other Loan Documents, including without limitation all Persons who were otherwise required to become Subsidiary Guarantors
after the Closing Date of the Credit Agreement, and each of such Persons has become and remains a party to the Subsidiary Guaranty Agreement as a Subsidiary Guarantor; 

(c)    This Amendment has been duly authorized, executed and delivered by the Borrowers and the Guarantors
party hereto and constitutes a legal, valid and binding obligation of such parties, except as may be limited by general principles of equity or by the effect of any applicable bankruptcy, insolvency, reorganization, moratorium or similar law
affecting creditors’ rights generally; and 
 (d)    No Default or Event of Default has occurred
and is continuing. 
 5.    Entire Agreement. This Amendment, together with the Loan Documents (collectively, the
“Relevant Documents”), sets forth the entire understanding and agreement of the parties hereto in relation to the subject matter hereof and supersedes any prior negotiations and agreements among the parties relating to such subject
matter. No promise, condition, representation or warranty, express or implied, not set forth in the Relevant Documents shall bind any party hereto, and no such party has relied on any such promise, condition, representation or warranty. Each of the
parties hereto acknowledges that, except as otherwise expressly stated in the Relevant Documents, no representations, warranties or commitments, express or implied, have been made by any party to the other in relation to the subject matter hereof or
thereof. None of the terms or conditions of this Amendment may be changed, modified, waived or canceled orally or otherwise, except in writing and in accordance with Section 10.01 of the Credit Agreement. 

6.    Full Force and Effect of Amendment. Except as hereby specifically amended, modified or supplemented, the
Credit Agreement and all other Loan Documents are hereby confirmed and ratified in all respects and shall be and remain in full force and effect according to their respective terms. 

  
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 7.    Counterparts. This Amendment may be executed in any number
of counterparts, each of which shall be deemed an original as against any party whose signature appears thereon, and all of which shall together constitute one and the same instrument. Delivery of an executed counterpart of a signature page of this
Amendment by telecopy, facsimile or other electronic transmission (including .pdf) shall be effective as delivery of a manually executed counterpart of this Amendment. 

8.    Governing Law. This Amendment shall in all respects be governed by, and construed in accordance with, the
laws of the State of New York. 
 9.    Enforceability. Should any one or more of the provisions of this
Amendment be determined to be illegal or unenforceable as to one or more of the parties hereto, all other provisions nevertheless shall remain effective and binding on the parties hereto. 

10.    References. All references in any of the Loan Documents to the “Credit Agreement” shall mean the
Credit Agreement, as amended hereby. 
 11.    Successors and Assigns. This Amendment shall be binding upon and
inure to the benefit of Borrowers, the Administrative Agent, the Guarantors, the Lenders (including the Joining Lenders) and their respective successors and assignees to the extent such assignees are permitted assignees as provided in
Section 10.06 of the Credit Agreement. 
 [Signature pages follow.] 

 

  
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 IN WITNESS WHEREOF, the parties hereto have caused this instrument to be made,
executed and delivered by their duly authorized officers as of the day and year first above written. 
  

			
	BORROWERS:
	
	FRESH DEL MONTE PRODUCE INC.
	DEL MONTE FRESH PRODUCE N.A., INC.
	DEL MONTE FUND B.V.
	DEL MONTE INTERNATIONAL GMBH
	DEL MONTE LUXEMBOURG SARL
	NETWORK SHIPPING LTD.
		
	By:	 	/s/ Richard Contreras
	Name:	 	Richard Contreras, as Responsible Officer

  

  
 Fresh Del Monte Produce
Inc. 
 Amendment No. 3 to Amended and Restated Credit Agreement 

Signature Page 

 
			
	GUARANTORS:
	
	 FRESH DEL MONTE PRODUCE INC.

	 DEL MONTE FRESH PRODUCE N.A., INC.

	 DEL MONTE FUND B.V.

	 DEL MONTE INTERNATIONAL GMBH

	 DEL MONTE LUXEMBOURG SARL

	 NETWORK SHIPPING LTD.

	 DEL MONTE FRESH PRODUCE COMPANY

	 DEL MONTE (PINABANA) CORP.

	 CORPORACION DE DESARROLLO AGRICOLA DEL MONTE S.A.

	 COMPANIA DE DESARROLLO BANANERO DE GUATEMALA S.A.

	 DEL MONTE (GERMANY) GMBH

	 WAFER LIMITED

	 FRESH DEL MONTE JAPAN COMPANY LTD.

	 DEL MONTE HELLAS S.A.

	 DEL MONTE KENYA LIMITED

	 DEL MONTE FRESH PRODUCE (SOUTHWEST) INC.

	 DEL MONTE FRESH PRODUCE (WEST COAST), INC.

	 DEL MONTE FRESH PRODUCE (TEXAS), INC.

	 DEL MONTE FRESH PRODUCE (CHILE) S.A.

	 DEL MONTE FOODS (U.A.E.) FZE

	 DEL MONTE FRESH PRODUCE BRASIL LTD.

	 PRODUCTOS AGRICOLAS DE ORIENTE, S.A.

	 NATIONAL POULTRY PLC

	 DEL MONTE FRESH PRODUCTION, INC.

	 DEL MONTE FRESH PRODUCE (CANADA) CORP.

	 DEL MONTE FRESH PRODUCE INTERNATIONAL INC.

	 DEL MONTE (UK) LTD.

	 DEL MONTE EUROPE LIMITED

	 DEL MONTE FOODS INTERNATIONAL LIMITED

	 MANN PACKING CO., INC.

		
	By:	 	/s/ Richard Contreras
	Name:	 	Richard Contreras, as Responsible Officer

  

  
 Fresh Del Monte Produce
Inc. 
 Amendment No. 3 to Amended and Restated Credit Agreement 

Signature Page 

 
			
	BANK OF AMERICA, N.A., as Administrative Agent
		
	By:	 	/s/ Liliana Claar
		
	Name:	 	Liliana Claar
		
	Title:	 	Vice President

  

  
 Fresh Del Monte Produce
Inc. 
 Amendment No. 3 to Amended and Restated Credit Agreement 

Signature Page 

 
			
	LENDERS:
	
	BANK OF AMERICA, N.A., as a Lender, L/C Issuer and Swing Line Lender
		
	By:	 	/s/ Julia H. Rocawich
		
	Name:	 	Julia H. Rocawich
		
	Title:	 	Senior Vice President

  

  
 Fresh Del Monte Produce
Inc. 
 Amendment No. 3 to Amended and Restated Credit Agreement 

Signature Page 

 
			
	U.S. BANK NATIONAL ASSOCIATION, as Co-Syndication Agent and a Lender
		
	By:	 	/s/ Jeffrey D. Hernandez
		
	Name:	 	Jeffrey D. Hernandez
		
	Title:	 	Vice President

  

  
 Fresh Del Monte Produce
Inc. 
 Amendment No. 3 to Amended and Restated Credit Agreement 

Signature Page 

 
			
	WELLS FARGO BANK, NATIONAL ASSOCIATION, as Co-Syndication Agent and a Lender
		
	By:	 	/s/ Henry Del Campo
		
	Name:	 	Henry Del Campo
		
	Title:	 	SVP, Sr. Relationship Manager

  

  
 Fresh Del Monte Produce
Inc. 
 Amendment No. 3 to Amended and Restated Credit Agreement 

Signature Page 

 
			
	TD BANK, N.A., as Co-Documentation Agent and a Lender
		
	By:	 	/s/ Alan Garson
		
	Name:	 	Alan Garson
		
	Title:	 	Senior Vice President

  

  
 Fresh Del Monte Produce
Inc. 
 Amendment No. 3 to Amended and Restated Credit Agreement 

Signature Page 

 
			
	COOPERATIEVE RABOBANK U.A., NEW YORK BRANCH (f/k/a Coöperatieve Centrale Raiffeisen-Boerenleenbank B.A., “Rabobank Nederland”, New York Branch), as
Co-Documentation Agent and a Lender
		
	By:	 	/s/ Michael LaHaie
		
	Name:	 	Michael LaHaie
		
	Title:	 	Executive Director
		
	By:	 	/s/ Irene Stephens
		
	Name:	 	Irene Stephens
		
	Title:	 	Vice President

  

  
 Fresh Del Monte Produce
Inc. 
 Amendment No. 3 to Amended and Restated Credit Agreement 

Signature Page 

 
			
	REGIONS BANK, as Co-Documentation Agent and a Lender
		
	By:	 	/s/ Cheryl L. Shelhart
		
	Name:	 	Cheryl L. Shelhart
		
	Title:	 	Vice President

  

  
 Fresh Del Monte Produce
Inc. 
 Amendment No. 3 to Amended and Restated Credit Agreement 

Signature Page 

 
			
	AGFIRST FARM CREDIT BANK, as a Lender
		
	By:	 	/s/ Matthew Jeffords
		
	Name:	 	Matthew Jeffords
		
	Title:	 	Vice President

  

  
 Fresh Del Monte Produce
Inc. 
 Amendment No. 3 to Amended and Restated Credit Agreement 

Signature Page 

 
			
	COBANK, ACB, as a Lender
		
	By:	 	/s/ Austin Taylor
		
	Name:	 	Austin Taylor
		
	Title:	 	Vice President

  

  
 Fresh Del Monte Produce
Inc. 
 Amendment No. 3 to Amended and Restated Credit Agreement 

Signature Page 

 
			
	FCS COMMERCIAL FINANCE GROUP, for AGCOUNTRY FARM CREDIT SERVICES, PCA (successor by merger to United FCS, PCA, d/b/a FCS Commercial Finance Group), as a Lender
		
	By:	 	/s/ Lisa Caswell
		
	Name:	 	Lisa Caswell
		
	Title:	 	Vice President

  

  
 Fresh Del Monte Produce
Inc. 
 Amendment No. 3 to Amended and Restated Credit Agreement 

Signature Page 

 
			
	COMPEER FINANCIAL FLCA (f/k/a 1st Farm Credit Services), as a Voting Participant
		
	By:	 	/s/ Graham J. Dee
		
	Name:	 	Graham J. Dee
		
	Title:	 	Director, Capital Markets

  

  
 Fresh Del Monte Produce
Inc. 
 Amendment No. 3 to Amended and Restated Credit Agreement 

Signature Page 

 
			
	GREENSTONE FARM CREDIT SERVICES, ACA/FLCA, as a Lender
		
	By:	 	/s/ Curtis Flammini
		
	Name:	 	Curtis Flammini
		
	Title:	 	VP of Capital Markets

  

  
 Fresh Del Monte Produce
Inc. 
 Amendment No. 3 to Amended and Restated Credit Agreement 

Signature Page 

 
			
	FARM CREDIT BANK OF TEXAS, as a Voting Participant
		
	By:	 	/s/ Curt A. Brown
		
	Name:	 	Curt A. Brown
		
	Title:	 	Vice President

  

  
 Fresh Del Monte Produce
Inc. 
 Amendment No. 3 to Amended and Restated Credit Agreement 

Signature Page 

 
			
	FARM CREDIT SERVICES OF AMERICA, PCA, as a Lender
		
	By:	 	/s/ Alan Robinson
		
	Name:	 	Alan Robinson
		
	Title:	 	Vice President

  

  
 Fresh Del Monte Produce
Inc. 
 Amendment No. 3 to Amended and Restated Credit Agreement 

Signature Page 

 
			
	JPMORGAN CHASE BANK, N.A., as a Lender
		
	By:	 	/s/ John Kushnerick
		
	Name:	 	John Kushnerick
		
	Title:	 	Executive Director

  

  
 Fresh Del Monte Produce
Inc. 
 Amendment No. 3 to Amended and Restated Credit Agreement 

Signature Page 

 
			
	SUNTRUST BANK, as a Lender
		
	By:	 	/s/ Mary K. Lundin
		
	Name:	 	Mary K. Lundin
		
	Title:	 	Director

  

  
 Fresh Del Monte Produce
Inc. 
 Amendment No. 3 to Amended and Restated Credit Agreement 

Signature PageExhibit 4.1

 

AMENDMENT NO. 2 TO

RIGHTS AGREEMENT

 

This AMENDMENT NO. 2 TO RIGHTS AGREEMENT (this “Amendment”) is entered into as of September 28, 2018 (the “Effective Date”), and amends that certain Rights Agreement, dated as of August 20, 2009, by and between ITERIS, INC., a Delaware corporation (the “Company”), and COMPUTERSHARE TRUST COMPANY, N.A., a federally chartered trust company, as Rights Agent (the “Rights Agent”), as amended by that certain Amendment No. 1 to Rights Agreement, dated as of August 8, 2012 (as so amended, the “Rights Agreement”).  Capitalized terms used in this Amendment and not otherwise defined herein have the meaning(s) given to them in the Rights Agreement.

 

WITNESSETH:

 

WHEREAS, in accordance with Section 27 of the Rights Agreement, at any time prior to the Distribution Date, the Company may amend the Rights Agreement in any respect without the approval of any holders of certificates representing shares of Common Stock.

 

WHEREAS, the Rights Agent is hereby directed by the Company to join in this Amendment.

 

NOW, THEREFORE, in consideration of the premises and the mutual agreements herein set forth, the parties hereto hereby agree as follows:

 

1.                                      Amendment of the Rights Agreement.  Section 7(a) of the Rights Agreement shall be amended by replacing clause (i) to read in its entirety as follows, effective as of the Effective Date:

 

“(i) the Close of Business on September 28, 2018 (the “Expiration Date”),”

 

2.                                      Amendments of Exhibits.  All exhibits to the Rights Agreement shall be amended to reflect the change in the Expiration Date as set forth above in Section 1 of this Amendment, including all conforming changes to the Expiration Date, effective as of the Effective Date.

 

3.                                      Other Amendment; Effect of Amendment.  Except as, and to the extent, expressly modified by this Amendment, the Rights Agreement and the exhibits thereto remain in full force and effect in all respects without any modification.  This Amendment will be deemed an amendment to the Rights Agreement and will become effective on the Effective Date.  In the event of conflict or inconsistency between this Amendment and the Rights Agreement and the exhibits thereto, the provisions of this Amendment will govern.

 

4.                                      Counterparts.  This Amendment may be executed in any number of counterparts and each of such counterparts will for all purposes be deemed to be an original, and all such counterparts will together constitute one and the same instrument, it being understood that all parties need not sign the same counterpart.  A signature to this Amendment executed and/or transmitted electronically (including by .pdf) will have the same authority, effect and enforceability as an original signature.

 

5.                                      Severability.  If any term, provision, covenant or restriction of this Amendment is held by a court of competent jurisdiction or other authority to be invalid, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions of this Amendment will remain in full force and effect and will in no way be affected, impaired or invalidated.

 

1

 

6.                                      Descriptive Headings.  The descriptive headings of the several Sections of this Amendment are inserted for convenience only and will not control or affect the meaning or construction of any of the provisions hereof.

 

7.                                      Further Assurances.  Each of the parties to this Amendment will reasonably cooperate and take such action as may be reasonably requested by the other party in order to carry out the provisions and purposes of this Amendment, the Rights Agreement and the transactions contemplated hereunder and thereunder.

 

8.                                      Governing Law.  This Amendment shall be deemed to be a contract made under the laws of the State of Delaware and for all purposes shall be governed by and construed in accordance with the laws of such State applicable to contracts made and to be performed entirely within such State.

 

[Signatures follow]

 

2

 

IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the Effective Date.

 

	
 
    	
ITERIS, INC.
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ JOE BERGERA
    
	
 
    	
 
    	
 
    
	
 
    	
Name:
    	
Joe Bergera
    
	
 
    	
 
    	
 
    
	
 
    	
Title: 
    	
Chief Executive Officer
    
	
 
    	
 
    	
 
    
	
 
    	
COMPUTERSHARE TRUST COMPANY,   N.A.:
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ DENNIS V. MOCCIA
    
	
 
    	
 
    	
 
    
	
 
    	
Name:
    	
Dennis V. Moccia
    
	
 
    	
 
    	
 
    
	
 
    	
Title:
    	
Manager, Contract   Administration
    

 

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