Document:

Exhibit

Exhibit 10.2 

SECOND AMENDMENT TO NOTE PURCHASE AGREEMENT
THIS SECOND AMENDMENT TO NOTE PURCHASE AGREEMENT (this “Amendment”), dated as of November 14, 2017, is by and among DST SYSTEMS, INC., a Delaware corporation (the “Company”), and the Purchasers (as defined herein) party hereto. 
W I T N E S S E T H
WHEREAS, the Company and certain Persons from time to time party thereto (the “Purchasers”) are parties to that certain Note Purchase Agreement dated as of August 9, 2010 (as amended, modified, extended, restated, replaced, or supplemented from time to time, the “Note Purchase Agreement”); 
WHEREAS, on the date hereof, the Company and certain other persons from time to time party thereto intend to enter into that certain Master Note Purchase Agreement dated on the date hereof (as amended, modified, extended, restated, replaced, or supplemented from time to time, the “Master Note Purchase Agreement”); 
WHEREAS, the Company desires to align certain provisions of the Note Purchase Agreement with the Master Note Purchase Agreement;
WHEREAS, the Company has requested that the Purchasers amend the Note Purchase Agreement to modify certain provisions contained therein; and
WHEREAS, the holders of each Note currently outstanding have agreed to amend the Note Purchase Agreement on the terms and subject to the conditions set forth herein.
NOW, THEREFORE, in consideration of the mutual covenants and other agreements contained herein and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto agree as follows:
1.Defined Terms. Capitalized terms used herein (including in the preamble and recitals above) but not otherwise defined herein shall have the respective meanings ascribed to such terms in the Note Purchase Agreement.
2.    Amendments to the Note Purchase Agreement. Subject to the terms and conditions set forth herein, the Note Purchase Agreement is hereby amended as follows:
(a)    Section 8.7(i)(B) of the Note Purchase Agreement is hereby amended by deleting the following language in its entirety: 

1

Exhibit 10.2 

(excluding, in the case of both clause (ii) and clause (iii), any individual whose initial nomination for, or assumption of office as, a member of that board or equivalent governing body occurs as a result of an actual or threatened solicitation of proxies or consents for the election or removal of one or more directors by any person or group other than a solicitation for the election of one or more directors by or on behalf of the board of directors)
3.    Conditions Precedent. This Amendment shall become effective upon the receipt by the Company and each Purchaser (or Chapman and Cutler LLP, as counsel to the Purchasers) of this Amendment duly executed by the Company and the holders of each Note currently outstanding. 
		
	4.
	Representations and Warranties. The Company hereby represents and warrants that:

(a)    it has the requisite corporate power and authority to execute, deliver and perform this Amendment;
(b)    it is duly authorized to, and has been authorized by all necessary corporate action to, execute, deliver and perform this Amendment;
(c)    no Default or Event of Default exists under the Note Purchase Agreement on and as of the date hereof and after giving effect to this Amendment;
(d)    no consent, approval, authorization or order of, or filing, registration or qualification with, any court or governmental authority or third party is required in connection with the execution, delivery or performance by it of this Amendment; and
(e)    the execution, delivery and performance by it of this Amendment do not and will not (i) contravene, result in any breach of, or constitute a default under, any indenture, mortgage, deed of trust, loan, purchase or credit agreement, lease, corporate charter or by-laws, or any other agreement or instrument to which the Company or any Subsidiary is bound or by which the Company or any Subsidiary or any of their respective properties may be bound or affected, (ii) conflict with or result in a breach of any of the terms, conditions or provisions of any order, judgment, decree, or ruling of any court, arbitrator or Governmental Authority applicable to the Company or any Subsidiary or (iii) violate in any material respect any provision of any statute or other rule or regulation of any Governmental Authority applicable to the Company or any Subsidiary.
		
	5.
	Miscellaneous.

		
	(a)
	This Amendment shall be construed in connection with and as part of the Note Purchase Agreement, and except as modified and expressly amended by this Amendment, all terms, conditions and covenants contained in the Note Purchase 

2

Exhibit 10.2 

Agreement and the Notes are hereby ratified and shall be and remain in full force and effect.
		
	(b)
	Any and all notices, requests, certificates and other instruments executed and delivered after the execution and delivery of this Amendment may refer to the Note Purchase Agreement without making specific reference to this Amendment but nevertheless all such references shall include this Amendment unless the context otherwise requires.

		
	(c)
	The descriptive headings of the various Sections or parts of this Amendment are for convenience only and shall not affect the meaning or construction of any of the provisions hereof.

		
	(d)
	All covenants and other agreements contained in this Amendment by or on behalf of any of the parties hereto bind and inure to the benefit of their respective permitted successors and permitted assigns (including, without limitation, any subsequent holder of a Note) whether so expressed or not.

		
	(e)
	THIS AMENDMENT SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

		
	(f)
	This Amendment may be executed in any number of counterparts, each of which when so executed and delivered shall be deemed an original and it shall not be necessary in making proof of this Amendment to produce or account for more than one such counterpart.  Delivery of an executed counterpart of this Amendment by telecopy or electronic mail by any party hereto shall be effective as such party’s original executed counterpart.

[SIGNATURE PAGES FOLLOW]

3

Exhibit 10.2 

IN WITNESS WHEREOF, each of the undersigned has caused this Amendment to be duly executed and delivered as of the date first above written.

	
	
	DST SYSTEMS, INC.

        	
		
	By:
	/s/ Gregg Wm. Givens

	Name:
	Gregg Wm. Givens

	Title:
	Senior Vice President, Chief Financial Officer and Treasurer

4

Accepted as of the date first written above.

THE PRUDENTIAL INSURANCE COMPANY OF AMERICA
                                                                              	
		
	By:
	/s/ Brian E. Lemons 

	 
	Vice President

We acknowledge that we hold $16,550,000 5.06% Series C Senior Note due August 9, 2018.
We acknowledge that we hold $6,000,000 5.42% Series D Senior Note due August 9, 2020.
We acknowledge that we hold $15,000,000 5.42% Series D Senior Note due August 9, 2020.

GIBRALTAR LIFE INSURANCE CO., LTD.
		
	By:
	Prudential Investment Management Japan, Co., Ltd., as Investment Manager

		
	By:
	PGIM, Inc., as Sub-Adviser

    	
		
	By:
	/s/ Brian E. Lemons 

	 
	Vice President

We acknowledge that we hold $20,000,000 5.06% Series C Senior Note due August 9, 2018.
We acknowledge that we hold $10,000,000 5.42% Series D Senior Note due August 9, 2020.
We acknowledge that we hold $5,000,000 5.42%    Series D Senior Notes due August 9, 2020.

DST Systems, Inc.
Second Amendment to Note Purchase Agreement

Accepted as of the date first written above.

PRUDENTIAL RETIREMENT INSURANCE AND ANNUITY COMPANY
		
	By:
	PGIM, Inc., as investment manager

    	
		
	By:
	/s/ Brian E. Lemons 

	 
	Vice President

We acknowledge that we hold $13,450,000 5.06% Series C Senior Note due August 9, 2018.

UNIVERSAL PRUDENTIAL ARIZONA REINSURANCE COMPANY
		
	By:
	PGIM, Inc., as investment manager

    	
		
	By:
	/s/ Brian E. Lemons 

	 
	Vice President

We acknowledge that we hold $5,000,000 5.42% Series D Senior Note due August 9, 2020.

ZURICH AMERICAN INSURANCE COMPANY
		
	By:
	Prudential Private Placement Investors, L.P., (as Investment Advisor)

		
	By:
	Prudential Private Placement Investors, Inc., (as General Partner)

    	
		
	By:
	/s/ Brian E. Lemons 

	 
	Vice President

We acknowledge that we hold $7,500,000 5.42% Series D Senior Note due August 9, 2020.

DST Systems, Inc.
Second Amendment to Note Purchase Agreement

Accepted as of the date first written above.
FARMERS NEW WORLD LIFE INSURANCE COMPANY
		
	By:
	Prudential Private Placement Investors, L.P., (as Investment Advisor)

		
	By:
	Prudential Private Placement Investors, Inc., (as General Partner)

    	
		
	By:
	/s/ Brian E. Lemons 

	 
	Vice President

We acknowledge that we hold $7,500,000 5.42% Series D Senior Note due August 9, 2020.

DST Systems, Inc.
Second Amendment to Note Purchase Agreement

Accepted as of the date first written above.

MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY
		
	By:
	Babson Capital Management LLC as Investment Adviser

    	
		
	By:
	/s/ John B. Wheeler

	Name:
	John B. Wheeler

	Title:
	Managing Director

We acknowledge that we hold $26,700,000 5.42% Series D Senior Note due August 9, 2020.

C.M. LIFE INSURANCE COMPANY
		
	By:
	Babson Capital Management LLC as Investment Adviser

    	
		
	By:
	/s/ John B. Wheeler

	Name:
	John B. Wheeler

	Title:
	Managing Director

We acknowledge that we hold $3,300,000 5.42% Series D Senior Note due August 9, 2020.

DST Systems, Inc.
Second Amendment to Note Purchase Agreement

Accepted as of the date first written above.

ATHENE ANNUITY AND LIFE COMPANY
(f/k/a Aviva Life and Annuity Company)
		
	By:
	Athene Asset Management, L.P., its investment adviser

By:  AAM GP Ltd., its general partner
    	
		
	By:
	/s/ Roger D. Fors

	Name:
	Roger D. Fors

	Title:
	Senior Vice President, Fixed Income

We acknowledge that we hold $15,000,000 5.06% Series C Senior Note due August 9, 2018.

DST Systems, Inc.
Second Amendment to Note Purchase Agreement

Accepted as of the date first written above.

AXA EQUITABLE LIFE INSURANCE COMPANY
    	
		
	By:
	/s/ Amy Judd

	Name:
	Amy Judd

	Title:
	Investment Officer

We acknowledge that we hold $19,000,000 5.42% Series D Senior Note due August 9, 2020.

DST Systems, Inc.
Second Amendment to Note Purchase Agreement

Accepted as of the date first written above.

ALLIANZ LIFE INSURANCE COMPANY OF NORTH AMERICA
		
	By:
	Allianz Global Investors U.S. LLC

As the authorized signatory and investment manager
    	
		
	By:
	/s/ Charles J. Dudley

	Name:
	Charles J. Dudley

	Title:
	Managing Director

We acknowledge that we hold $20,000,000 5.42% Series D Senior Note due August 9, 2020.

DST Systems, Inc.
Second Amendment to Note Purchase Agreement

Accepted as of the date first written above.

CMFG LIFE INSURANCE COMPANY
(F/K/A CUNA MUTUAL INSURANCE SOCIETY)
		
	By: 
	MEMBERS Capital Advisors, Inc. acting as Investment Advisor

    	
		
	By:
	/s/ Jason Micks

	Name:
	Jason Micks

	Title:
	Director II, Investments

We acknowledge that we hold $10,000,000 5.42% Series D Senior Note due August 9, 2020.

DST Systems, Inc.
Second Amendment to Note Purchase Agreement

Accepted as of the date first written above.

AMERICAN NATIONAL INSURANCE COMPANY (ANICO)
    	
		
	By:
	/s/ Anne M. LeMire

	Name:
	Anne M. LeMire

	Title:
	Senior Vice PResident

We acknowledge that we hold $20,000,000 5.42% Series D Senior Note due August 9, 2020.

DST Systems, Inc.
Second Amendment to Note Purchase Agreement

Accepted as of the date first written above.

THE OHIO NATIONAL LIFE INSURANCE COMPANY
    	
		
	By:
	/s/ Gary R. Rodmaker

	Name:
	Gary R. Rodmaker

	Title:
	Vice President

We acknowledge that we hold $3,000,000 5.42% Series D Senior Note due August 9, 2020.

OHIO NATIONAL LIFE ASSURANCE CORPORATION
    	
		
	By:
	/s/ Gary R. Rodmaker

	Name:
	Gary R. Rodmaker

	Title:
	Vice President

We acknowledge that we hold $2,000,000 5.42% Series D Senior Note due August 9, 2020.

DST Systems, Inc.
Second Amendment to Note Purchase AgreementExhibit

Exhibit 10.3

SECOND AMENDMENT TO CREDIT AGREEMENT

THIS SECOND AMENDMENT TO CREDIT AGREEMENT (this “Amendment”) dated as of November 14, 2017 is by and among DST SYSTEMS, INC., a Delaware corporation (the “Borrower”), the Lenders identified on the signature pages hereto and BANK OF AMERICA, N.A., as Administrative Agent (in such capacity, the “Administrative Agent”), L/C Issuer and Swing Line Lender.

W I T N E S S E T H

WHEREAS, a revolving credit facility in an aggregate principal amount of $850,000,000 has been established in favor of the Borrower pursuant to the terms of that certain Credit Agreement dated as of October 1, 2014 (as amended by that certain First Amendment to Credit Agreement dated as of June 5, 2015, the “Credit Agreement”) among the Borrower, the Lenders identified therein (the “Lenders”) and the Administrative Agent;

WHEREAS, the Borrower has requested that the Lenders amend the Credit Agreement to modify certain provisions contained therein; and

WHEREAS, the Required Lenders have agreed to amend the Credit Agreement on the terms and subject to the conditions set forth herein.

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

1.    Defined Terms.  Capitalized terms used herein but not otherwise defined herein shall have the meanings provided to such terms in the Credit Agreement (including as amended hereby).

2.    Amendments.  Subject to the satisfaction of the conditions precedent set forth in Section 3 hereof, the Credit Agreement is hereby amended as follows:

(a) The definition of “Note Purchase Agreement” in Section 1.01 of the Credit Agreement is hereby amended and restated in its entirety to read as follows:

“Note Purchase Agreements” means (a) that certain Note Purchase Agreement dated as of August 9, 2010 among the Borrower and the Purchasers referred to therein (the “2010 Note Purchase Agreement”), (b) that certain Master Note Purchase Agreement to be dated on or about November 14, 2017 among the Borrower and the Purchasers referred to therein (the “2017 Note Purchase Agreement”) and (c) any other note purchase agreement entered into by the Borrower to the extent the Indebtedness incurred thereunder is otherwise permitted by this Agreement (each such other note purchase agreement, a “New Note Purchase Agreement”), in each case as amended, modified, restated, amended and restated or supplemented from time to time in accordance with the terms hereof. 
 (b)    Subclause (i) of Section 7.09 of the Credit Agreement is hereby amended and restated in its entirety to read as follows:

(i)    the restrictions set forth in Section 10.4 of each of the 2010 Note Purchase Agreement and the 2017 Note Purchase Agreement and restrictions on Liens in any New Note Purchase Agreement that are substantially the same as (and in any event not materially more restrictive to the Borrower, in the aggregate, than) those in the 2010 Note Purchase Agreement and the 2017 Note Purchase Agreement (as determined in good faith by a Responsible Officer of the Borrower), so long as each such Note Purchase Agreement permits the Borrower to grant Liens to secure the obligations under this Agreement if the Borrower makes effective provisions at the same time Liens are granted to secure the obligations under this Agreement to equally and ratably secure the Indebtedness under such Note Purchase Agreement.
     
3.    Conditions Precedent.  This Amendment shall become effective upon the receipt by the Administrative Agent of counterparts of this Amendment duly executed by the Borrower, the Administrative Agent and the Required Lenders. 

4.    Representations and Warranties.  The Borrower hereby represents and warrants that (a) it has the requisite corporate power and authority to execute, deliver and perform this Amendment, (b) it is duly authorized to, and has been authorized by all necessary corporate action to, execute, deliver and perform this Amendment, (c) no consent, approval, authorization or order of, or filing, registration or qualification with, any court or governmental authority or third party is required in connection with the execution, delivery or performance by it of this Amendment, (d) the execution, delivery and performance by it of this Amendment do not and will not conflict with, result in a breach of or constitute a default under the articles of incorporation, bylaws or other organizational documents of the Borrower or any of its Subsidiaries or any indenture or other material agreement or instrument to which any such Person is a party or by which any of its properties may be bound or the approval of any Governmental Authority relating to such Person except as could not reasonably be expected to have a Material Adverse Effect, (e) the representations and warranties contained in Article V of the Credit Agreement (and, with respect to Section 5.06(a) of the Credit Agreement only, after giving effect to this Amendment) are true and correct in all material respects on and as of the date hereof as though made on and as of such date (except for those which expressly relate to an earlier date) and (f) no Default or Event of Default exists under the Credit Agreement on and as of the date hereof and after giving effect to this Amendment, or will occur as a result of the transactions contemplated hereby. 

5.    No Other Changes; Ratification.  Except as expressly modified or waived hereby, all of the terms and provisions of the Credit Agreement (including schedules and exhibits thereto) and the other Loan Documents shall remain in full force and effect.  The term “this Agreement” or “Credit Agreement” and all similar references as used in each of the Loan Documents shall hereafter mean the Credit Agreement as amended by this Amendment.  Except as herein specifically agreed, the Credit Agreement is hereby ratified and confirmed and shall remain in full force and effect according to its terms.  This Amendment shall be effective only to the extent specifically set forth herein and shall not (i) be construed as a waiver of any breach or default other than as specifically waived herein nor as a waiver of any breach or default of which the Lenders have not been informed by the Borrower, (ii) affect the right of the Lenders to demand compliance by the Borrower with all terms and conditions of the Credit Agreement in all other instances, (iii) be deemed a waiver of any transaction or future action on the part of the Borrower requiring the Lenders’ or the Required Lenders’ consent or approval under the Credit Agreement, or (iv) be deemed or construed to be a waiver or release of, or a limitation upon, the Administrative Agent’s or the Lenders’ exercise of any rights or remedies under the Credit Agreement or any other document executed or delivered in connection therewith, whether arising as a consequence of any Event of Default which may now exist or otherwise, all such rights and remedies hereby being expressly reserved.

6.    Counterparts; Facsimile/Email.  This Amendment may be executed in any number of counterparts, each of which when so executed and delivered shall be deemed an original and it shall not be necessary in making proof of this Amendment to produce or account for more than one such counterpart.  Delivery of an executed counterpart of this Amendment by facsimile or electronic mail by any party hereto shall be effective as such party’s original executed counterpart.

7.    Governing Law.  This Amendment shall be deemed to be a contract made under, and for all purposes shall be construed in accordance with, the laws of the State of New York.

8.    Entirety.  This Amendment and the other Loan Documents embody the entire agreement between the parties and supersede all prior agreements and understandings, if any, relating to the subject matter hereof.  These Loan Documents represent the final agreement between the parties and may not be contradicted by evidence of prior, contemporaneous or subsequent oral agreements of the parties.  There are no oral agreements between the parties.

[SIGNATURE PAGES FOLLOW]

IN WITNESS WHEREOF, each of the parties hereto has caused a counterpart of this Amendment to be duly executed and delivered as of the date first above written.

BORROWER:                DST SYSTEMS, INC.,
a Delaware corporation

By:    /s/ Gregg Wm. Givens        
Name:    Gregg Wm. Givens        
Title:    Senior Vice President, Chief     
         Financial Officer and Treasurer    

ADMINISTRATIVE AGENT
		
	AND LENDERS:
	BANK OF AMERICA, N.A., 
as Administrative Agent

By:    /s/ Kelly Weaver        
Name:    Kelly Weaver            
Title:    Vice President            

BANK OF AMERICA, N.A., 
as a Lender, L/C Issuer and Swing Line Lender

By:    /s/ Jeannette Lu            
Name:    Jeannette Lu            
Title:    Director            

BANK OF THE WEST
as a Lender

By:    /s/ Helen Jorski            
Name:    Helen Jorski            
Title:     Vice President            

BMO HARRIS BANK, N.A.
as a Lender

By:    /s/ David Hunt        
Name:    David Hunt        
Title:    Director        

BOKF, NA
as a Lender

By:    /s/ John P. Mills        
Name:    John P. Mills        
Title:    Senior Vice President    

CIBC BANK USA f/k/a THE PRIVATEBANK
AND TRUST COMPANY
as a Lender

By:    /s/ Cliff Chaitman    
Name: Cliff Chaitman        
Title: Managing Director    

COMMERCE BANK
as a Lender

By:    /s/ Jeffrey M. Turner    
Name:    Jeffrey M. Turner    
Title:    Vice President        

COMPASS BANK
as a Lender

By:    /s/ Raj Nambiar        
Name:    Raj Nambiar        
Title:    Sr. Vice President    

JPMORGAN CHASE BANK, N.A.,
as a Lender

By:    /s/ Daglas Panchal    
Name:    Daglas Panchal        
Title:    Executive Director    

THE ROYAL BANK OF SCOTLAND PLC.
as a Lender

By:    /s/ Stephen Leach    
Name:    Stephen Leach        
Title:    Director        

SUNTRUST BANK,
as a Lender

By:    /s/ Carlos Cruz        
Name:    Carlos Cruz        
Title:    Vice President        

U.S. BANK NATIONAL ASSOCIATION
as a Lender

By:    /s/ Tim Landro        
Name:    Tim Landro        
Title:    Vice President        

UMB BANK N.A.,
as a Lender

By:    /s/ Corey Miller        
Name:    Corey Miller        
Title:    Senior Vice President    

    

WELLS FARGO BANK, NATIONAL ASSOCIATION
as a Lender

By:    /s/ Damon Bodenhamer    
Name:    Damon Bodenhamer    
Title:    Vice President        

CHAR1\1552919v3

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