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SERIES 2 INCREMENTAL REVOLVING CREDIT AGREEMENT

 

EXHIBIT 10.2

 SERIES 2 INCREMENTAL REVOLVING CREDIT AGREEMENT 

 SERIES 2 INCREMENTAL REVOLVING CREDIT AGREEMENT dated as of April 17, 2001 (this "Agreement") between CHART INDUSTRIES, INC. (the "Borrower"); each of the SUBSIDIARY BORROWERS party hereto; each of the SUBSIDIARY GUARANTORS party
hereto; the SERIES 2 LENDERS party hereto; and THE CHASE MANHATTAN BANK, as Administrative Agent. 

 The Borrower, the Subsidiary Borrowers, the Subsidiary Guarantors, each of the lenders that is a signatory thereto and the Administrative Agent are parties to a Credit Agreement dated as of April 12, 1999 (as heretofore modified and supplemented
and in effect on the date hereof, the "Credit Agreement"), providing, subject to the terms and conditions thereof, for loans to be made by said lenders to the Borrower in an aggregate original principal amount not exceeding $300,000,000.

 Section 2.01(d) of the Credit Agreement contemplates that at any time and from time to time prior to December 30, 2001, the Borrower may request that the Lenders (as defined therein) offer to enter into commitments to make Incremental Revolving
Credit Loans under and as defined in said Section 2.01(d), which Incremental Revolving Credit Loans may be made in one or more separate "series" of revolving loans but which in the aggregate may not exceed $10,000,000. The Borrower has now requested
that $2,500,000 of Incremental Revolving Credit Loans under said Section 2.01(d) be made available to it in a single series of revolving loans (the "Series 2 Loans"). The Series 2 Lenders (as defined below) are willing to make such loans on
the terms and conditions set forth below and in accordance with the applicable provisions of the Credit Agreement and, accordingly, the parties hereto hereby agree as follows: 

 ARTICLE I 

 DEFINED TERMS 

 Terms defined in the Credit Agreement are used herein as defined therein. In addition, the following terms have the meanings specified below: 

 "Series 2 Availability Period" means the period beginning on the      Series 2 Effective Date and ending on the Series 2 Commitment Termination      Date. 

 "Series 2 Commitment" means, with respect to each Series 2 Lender,      the commitment of such Lender to make Series 2 Loans hereunder. The amount      of each Series 2 Lender's Series 2 Commitment is (i) set forth opposite such
Series 2 Lender's signature hereto or (ii) evidenced by an assignment of such      Series 2 Commitment 

 Series 1 Incremental Revolving Credit Agreement

  

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 pursuant to Section 10.04 of the Credit Agreement. The aggregate original amount of the Series 2 Commitments is $2,500,000. 

 "Series 2 Commitment Termination Date" means April 17, 2001. 

 "Series 2 Effective Date" means the date on which the conditions      specified in Article IV are satisfied. 

 "Series 2 Lender" means (a) on the date hereof, a Lender that has      executed and delivered this Agreement and (b) thereafter, the Lenders from      time to time holding Series 2 Commitments or Series 2 Loans after giving effect      to
any assignments thereof pursuant to Section 10.04 of the Credit Agreement.    

 ARTICLE II 

 SERIES 2 LOANS 

 Section 2.01. Commitments. Subject to the terms and conditions set forth herein and in the Credit Agreement, each Series 2 Lender commits to make Series 2 Loans to the Borrower during the Series 2 Availability Period in an aggregate
principal amount equal to such Series 2 Lender's Series 2 Commitment. The proceeds of Series 2 Loans shall be available for any use permitted under Section 6.08 of the Credit Agreement. 

 Section 2.02. Termination of Commitments. Unless previously terminated, the Series 2 Commitments shall terminate on the Series 2 Commitment Termination Date. 

 Section 2.03. Repayment of Loans. The Borrower hereby unconditionally promises to pay to the Administrative Agent for the account of each Series 2 Lender the outstanding principal amount of the Series 2 Loans on the Series 2 Commitment
Termination Date. 

 Section 2.04. Applicable Margin. The Applicable Margin for Series 2 Loans shall be 2.50% for ABR Loans and 3.50% for Eurodollar Loans. 

 Section 2.05. Commitment Fee. The Borrower agrees to pay to the Administrative Agent for account of each Series 2 Lender a commitment fee, which shall accrue at a rate per annum equal to 0.75% on the average daily unused amount of the
Series 2 Commitment of such Series 2 Lender during the period from and including the Series 2 Effective Date to but excluding the earlier of the date such Series 2 Commitment terminates and the Series 2 Commitment Termination Date. 

 Section 2.06. Status of Agreement. The Series 2 Commitments of each Series 2 Lender constitute Incremental Revolving Credit Commitments, the Series 2 Lenders constitute Incremental Revolving Credit Lenders and the Series 2 Loans
constitutes a single "Series" of Incremental Revolving Credit Loans under Section 2.01(d) of the Credit Agreement. 

 Series 2 Incremental Revolving Credit Agreement 

  

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 ARTICLE III 

 REPRESENTATION AND WARRANTIES; NO DEFAULTS 

 The Borrower represents and warrants to the Lenders that (i) the representations and warranties set forth in Article IV of the Credit Agreement are true and complete on the date hereof as if made on and as of the date hereof and as if each
reference in said Article IV to "this Agreement" included reference to this Agreement and (ii) no Default has occurred and is continuing. 

 ARTICLE IV 

 CONDITIONS 

 The obligations of the Series 2 Lenders to make the Series 2 Loans is subject to the satisfaction of each of the following conditions precedent: 

 (a) Counterparts of Agreement. The Administrative Agent shall have received from each party hereto either (i) a counterpart of this Agreement signed on behalf of such party or (ii) written evidence satisfactory to the Administrative Agent
(which may include telecopy transmission of a signed signature page of this Agreement) that such party has signed a counterpart of this Agreement. 

 (b) Fees and Expenses. The Administrative Agent shall have received all fees and other amounts due and payable on or prior to the Series 2 Effective Date, including reimbursement or payment of all reasonable out-of-pocket expenses
required to be reimbursed or paid by the Borrower hereunder. 

 (c) Additional Conditions. The Administrative Agent shall have received a certificate, dated the Series 2 Effective Date and signed by a Financial Officer confirming that after giving effect to any Borrowing of Series 2 Loans (under the
assumption that any such Borrowing had been consummated on the first day of the respective periods for which calculations are to be made under the covenants in Section 7.09 of the Credit Agreement (as amended by Amendment No. 2 dated as of October
10, 2000 thereto)), the Borrower would have been in compliance with the applicable provisions of Section 7.09 of the Credit Agreement. 

Series 2 Incremental Revolving Credit Agreement

 

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 ARTICLE V 

 CONFIRMATION OF COLLATERAL SECURITY 

 Each Obligor hereby confirms that the obligations of the Borrower in respect of the Series 2 Loans under the Credit Agreement are entitled to the benefits of each of the Security Documents and shall constitute obligations that are secured by the
collateral under and for all purposes of each Security Document. 

 ARTICLE VI 

 MISCELLANEOUS 

 SECTION 6.01. Expenses. The Obligors jointly and severally agree to pay, or reimburse the Administrative Agent for, (i) all reasonable out-of-pocket expenses incurred by the Administrative Agent and its Affiliates, including the
reasonable fees, charges and disbursements of Milbank, Tweed, Hadley & McCloy LLP, in connection with the syndication of the Series 2 Loans provided for herein and the preparation of this Agreement. 

 SECTION 6.02. Counterparts; Integration; Effectiveness. This Agreement may be executed in counterparts (and by different parties hereto on different counterparts), each of which shall constitute an original, but all of which when taken
together shall constitute a single contract. This Agreement shall become effective when this Agreement shall have been executed by the Administrative Agent and when the Administrative Agent shall have received counterparts hereof which, when taken
together, bear the signatures of each of the other parties hereto, and thereafter shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns. Delivery of an executed counterpart of a signature
page of this Agreement by telecopy shall be effective as delivery of a manually executed counterpart of this Agreement. 

 SECTION 6.03. Governing Law. This Agreement shall be governed by, and construed in accordance with, the law of the State of New York. 

 SECTION 6.04. Headings. Article and Section headings used herein are for convenience of reference only, are not part of this Agreement and shall not affect the construction of, or be taken into consideration in interpreting, this
Agreement. 

Series 2 Incremental Revolving Credit Agreement

 

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

  

	 	CHART INDUSTRIES, INC. 
	 	 
	 	 	 
	 	By 	
 

/s/ Don A. Baines 

	 	 
 
	 	Name: Don A. Baines

Title: Treasurer and Chief Financial Officer 
	 	 
	 SUBSIDIARY BORROWERS 

	 	 	  
	 	CHART HEAT EXCHANGERS LIMITED
	 	 
	 	 	 
	 	By	
 /s/ Don A. Baines 

	 	 	 
 
	 	 	Name: Don A. Baines

Title: Director 
	 	 	 
	 	CHART-AUSTRALIA PTY, LTD. 
	 	 
	 	 	 
	 	By	
 /s/ Arthur S. Holmes 

	 	 	 
 
	 	 	Name: Arthur S. Holmes

Title: Director 

Series 2 Incremental Revolving Credit Agreement

 

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 SUBSIDIARY GUARANTORS 

	 	ALTEC, INC. 
	 	 
	 	 	 
	 	By 	
 /s/ Don A. Baines 

	 	 	 
 
	 	 	Name: Don A. Baines

Title: Assistant Secretary
	 	 	 
	 	CHART HEAT EXCHANGERS LIMITED

  PARTNERSHIP 
	 	 	 
	 	By: 	
CHART MANAGEMENT COMPANY, INC., 

	 	 	as its sole general partner 
	 	 	 
	 	 	 
	 	By	
 /s/ Don A. Baines      

	 	 	 
 
	 	 	Name: Don A. Baines

Title: Secretary and Treasurer 
	 	 	 
	 	CHART INDUSTRIES FOREIGN SALES

  CORPORATION 
	 	 
	 	 	 
	 	By	
 /s/ Don A. Baines      

	 	 	 
 
	 	 	Name: Don A. Baines

Title: Secretary and Treasurer 
	 	 	 
	 	CHART INTERNATIONAL INC. 
	 	 	 
	 	 	 
	 	By	
 /s/ Don A. Baines     

	 	 	 
 
	 	 	Name: Don A. Baines

Title: Treasurer and Chief Financial Officer 

Series 2 Incremental Revolving Credit Agreement

  

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	 	CHART MANAGEMENT COMPANY, INC. 
	 	 	 
	 	 	 
	 	By:	

 /s/ Don A. Baines      

	 	 	 
 
	 	 	Name: Don A. Baines

Title: Secretary and Treasurer 
	 	 	 
	 	CHART LEASING, INC. 
	 	 	 
	 	 	 
	 	By	/s/ Don A. Baines
	 	 	 
 
	 	 	Name: Don A. Baines

Title: Secretary and Treasurer 
	 	 	 
	 	CHART CRYOGENIC SERVICES, INC. 
	 	 	 
	 	 	 
	 	By	/s/ Don A. Baines 
	 	 	 
 
	 	 	Name: Don A. Baines

Title: Assistant Secretary 
	 	 	 
	 	CHART, INC. 
	 	 	 
	 	 	 
	 	By	/s/ Don A. Baines
	 	 	 
 
	 	 	Name: Don A. Baines  

Title: Secretary and Treasurer
	 	 	 
	 	CHART INTERNATIONAL HOLDINGS, INC.
	 	 	 
	 	 	 
	 	By	/s/ Don A. Baines
	 	 	 
 
	 	 	Name: Don A. Baines

Title: Secretary and Treasurer 
	 	 	 
	 	CHART ASIA, INC. 
	 	 	 
	 	 	 
	 	By	/s/ Don A. Baines
	 	 	 
 
	 	 	Name: Don A. Baines

Title: Secretary and Treasurer 

Series 2 Incremental Revolving Credit Agreement 

  

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	 	CAIRE INC.
	 	 	 
	 	 	 
	 	By	/s/ Don A. Baines
	 	 	 
 
	 	 	Name: Don A. Baines

Title: Secretary and Treasurer 
	 	 	 
	 ADMINISTRATIVE AGENT 

	 	 	 
	 	THE CHASE MANHATTAN BANK,

  as Administrative Agent 
	 	 	 
	 	 	 
	 	By	/s/ Henry W. Centa
	 	 	 
 
	 	 	Name: Henry W. Centa

Title: Vice President 

Series 2 Incremental Revolving Credit Agreement

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	 SERIES 2 LENDERS 

	 	 	 
	$2,500,000	FIRST MERIT BANK N.A. 
	 	 	 
	 	 	 
	 	By 	/s/ John F. Neumann
	 	 	 
 
	 	 	Name: John F. Neumann

Title: Senior Vice President

Series 2 Incremental Revolving Credit Agreement<PAGE>

                                                                   Exhibit 10(1)

                                   AMENDMENT
                                      TO
                             THE MEAD CORPORATION
                            1996 STOCK OPTION PLAN

     THIS AMENDMENT (this "Amendment") is made as of February 22, 2001 to The
Mead Corporation 1996 Stock Option Plan (the "Plan").

     WHEREAS, the Board of Directors of the Company has determined that it is in
the best interests of The Mead Corporation (the "Company"), its shareholders and
Grantees that the Plan be amended, in accordance with Section 13 thereof, as
provided herein;

     NOW, THEREFORE, the Plan is hereby amended as follows, provided that this
Amendment shall be subject to the approval of the Company's shareholders at the
Company's annual shareholder's meeting on April 26, 2001:

     1.   The first sentence of Section 3 (a) of the Plan is hereby amended in
its entirety to read as follows:

     Number of Shares.  Subject to adjustment as provided in Section 11, the
     ----------------
     maximum number of Shares that may be issued and/or delivered under the Plan
     upon the exercise of options is 10,500,000.

     2.   The second paragraph of Section 4 of the Plan is hereby amended by
adding the phrase "under option agreements entered into prior to April 26, 2001"
after the phrase "Reload Options" in the second sentence thereof.

     3.   Section 4 of the Plan is hereby amended by the addition of the
following sentence at the end of the second paragraph thereof:

     Notwithstanding the foregoing, except in connection with an adjustment
     pursuant to Section 11 hereof, in no event shall the Committee have the
     authority to take any action which would have the result of adjusting
     downward the exercise price of any Incentive Stock Option or Nonqualified
     Option granted hereunder, whether through any amendment of the terms of
     such option, through the cancellation and subsequent replacement of such
     option with a new option in connection therewith or through any other
     means.

     4.   The first sentence of Section 5 of the Plan is hereby amended in its
entirety to read as follows:

     From time to time during the term of the Plan, the Committee may grant one
     or more Incentive Stock Options, Nonqualified Options and Reload Options
     under option agreements entered into prior to April 26, 2001 to any person
     who is then an officer or other key employee of the Company.

                                      17
<PAGE>

     5.   Section 6 (b) (5) of the Plan is hereby amended in its entirety to
read as follows:

     At the time the option is granted, or at such other time as the Committee
     may determine, the Committee may provide that, if the Grantee of the option
     ceases to be employed by the Company for any reason (including, but not
     limited to, the Grantee's disability), other than death or retirement of
     the Grantee, the option will continue to be exercisable by the Holder
     (including a Transferee under Section 10 hereof) for such additional period
     (not to exceed the remaining term of such option) as the Committee may
     provide. Unless otherwise determined by the Committee at the time an option
     is granted, if the Grantee of an option granted after April 26, 2001 ceases
     to be employed by the Company due to the Grantee's retirement, all options
     granted after April 26, 2001 which are then exercisable by such Grantee
     shall remain exercisable by the Holder for up to five (5) years after the
     date of such termination of employment, but in no event may the option be
     exercised later than its otherwise applicable expiration date.

     6.   Section 6 (d) of the Plan is hereby amended by adding the phrase
"under option agreements entered into prior to April 26, 2001" immediately
before the defined term "(the "Original Option")."

     7.   Section 6 (e) of the Plan is hereby amended by adding the phrase
"under option agreements entered into prior to April 26, 2001" after the phrase
"including a Reload Option" from the first parenthetical contained therein.

     This Amendment shall be effective as of the date first written above to
options first granted after April 26, 2001, but shall be subject to the approval
of the Company's shareholders at the Company's annual shareholder's meeting in
the year 2001.  Except as modified by this Amendment, the Plan shall remain in
full force and effect.

                                      18

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