Document:

Philip Morris International Inc. 2008 Stock Compensation Plan

 Exhibit 10.1 
 Philip Morris International Inc. 
 2008 Stock Compensation Plan for
Non-Employee Directors 
 (amended and restated as of May 11, 2011) 

Section 1. Purpose; Definitions. 

The purposes of the Plan are (i) to assist the Company in promoting a greater identity of interest between the Company’s Non-Employee Directors
and the Company’s stockholders; and (ii) to assist the Company in attracting and retaining Non-Employee Directors by affording them an opportunity to share in the future successes of the Company. 

For purposes of the Plan, the following terms are defined as set forth below: 
 (a) “Altria Deferred Stock Program” has the meaning provided in Section 7(g). 
 (b)
“Award” means the grant under the Plan of Common Stock, Stock Options, or Other Stock-Based Awards. 
 (c) “Board” means the
Board of Directors of the Company. 
 (d) “Committee” means the Nominating and Corporate Governance Committee of the Board or a
subcommittee thereof, any successor thereto or such other committee or subcommittee as may be designated by the Board to administer the Plan. 

(e) “Common Stock” or “Stock” means the Common Stock of the Company. 
 (f) “Company” means Philip Morris International Inc., a corporation organized under the laws of the Commonwealth of Virginia, or any successor thereto. 

(g) “Deferred Stock” means an unfunded obligation of the Company, represented by an entry on the books and records of the Company, to issue one
share of Common Stock on the date of distribution. 
 (h) “Deferred Stock Account” means the unfunded deferred compensation account
established by the Company with respect to each participant who elects to participate in the Deferred Stock Program in accordance with Section 7 of the Plan. 
 (i) “Deferred Stock Program” means the provisions of Section 7 of the Plan that permit participants to defer all or part of any Award of Stock pursuant to Section 5(a) of the Plan.

 (j) “Fair Market Value” means, as of any given date, the mean between the highest and lowest reported sales prices of the Common
Stock on the New York Stock Exchange-Composite Transactions or, if no such sale of Common Stock is reported on such date, the fair market value of the Stock as determined by the Committee in good faith;

 
provided, however, that the Committee may in its discretion designate the actual sales price as Fair Market Value in the case of dispositions of Common Stock under the Plan. In the case of Stock
Options or similar Other Stock-Based Awards, for purposes of Section 5(a), Fair Market Value means, as of any given date, the Black-Scholes or similar value determined based on the assumptions used for purposes of the Company’s most recent
financial reporting. 
 (k) “Non-Employee Director” means each member of the Board who is not a full-time employee of the Company or
of any corporation in which the Company owns, directly or indirectly, stock possessing at least 50% of the total combined voting power of all classes of stock entitled to vote in the election of directors in such corporation. 

(l) “Other Stock-Based Award” means an Award, other than a Stock Option or Deferred Stock, that is denominated in, valued in whole or in part
by reference to, or otherwise based on or related to, Common Stock. 
 (m) “Plan” means this Stock Compensation Plan for Non-Employee
Directors, as amended from time to time. 
 (n) “Plan Year” means the period commencing at the opening of business on the day on which
the Company’s annual meeting of stockholders is held and ending on the day immediately preceding the day on which the Company’s next annual meeting of stockholders is held. 
 (o) “Stock Option” means a right granted to a Non-Employee Director to purchase a share of Stock at a price equal to the Fair Market Value on the date of grant. Any Stock Options granted
pursuant to the Plan shall be nonqualified stock options. 
 (p) “Transferred Account” has the meaning provided in Section 7(g).

 Section 2. Administration. 
 The Plan shall be administered by the Committee, which shall have the power to interpret the Plan and to adopt such rules and guidelines for carrying out the Plan and appoint such delegates as it may deem
appropriate. The Committee shall have the authority to adopt such modifications, procedures and subplans as may be necessary or desirable to comply with the laws, regulations, compensation practices and tax and accounting principles of the countries
in which Non-Employee Directors reside or are citizens of and to meet the objectives of the Plan. 
 Any determination made by the Committee in
accordance with the provisions of the Plan with respect to any Award shall be made in the sole discretion of the Committee, and all decisions made by the Committee pursuant to the provisions of the Plan shall be final and binding on all persons,
including the Company and Plan participants. 

 Section 3. Eligibility. 
 Only Non-Employee Directors shall be granted Awards under the Plan. 
 Section 4. Common
Stock Subject to the Plan. 
 The total number of shares of Common Stock reserved and available for distribution pursuant to the Plan shall
be 1,000,000. If any Stock Option or Other Stock-Based Award is forfeited or expires without the delivery of Common Stock to a participant, the shares subject to such Award shall again be available for distribution in connection with Awards under
the Plan. Any shares of Common Stock that are used by a participant as full or partial payment of withholding or other taxes or as payment for the exercise price of an Award shall be available for distribution in connection with Awards under the
Plan. 
 In the event of any merger, share exchange, reorganization, consolidation, recapitalization, reclassification, distribution, stock
dividend, stock split, reverse stock split, split-up, spin-off, issuance of rights or warrants or other similar transaction or event affecting the Common Stock, the Committee is authorized to and shall make such adjustments or substitutions with
respect to the Plan and to Awards granted thereunder (including adjustments to any Transferred Account to reflect the distribution of the Company to shareholders of Altria Group, Inc.) as it deems appropriate to reflect the occurrence of such event,
including, but not limited to, adjustments (A) to the aggregate number and kind of securities reserved for issuance under the Plan, (B) to the Award amounts set forth in Section 5(a), and (C) to the number and kind of securities
subject to outstanding Awards and, if applicable, to the grant or exercise price of outstanding Awards. In connection with any such event, the Committee is also authorized to provide for the payment of any outstanding Awards in cash, including, but
not limited to, payment of cash in lieu of any fractional Awards, provided that any such payment shall comply with the requirements of Internal Revenue Code section 409A. 
 Section 5. Awards. 
 (a) Annual Awards. Following March 28, 2008, each
Non-Employee Director serving on such date shall receive an Award having a Fair Market Value equal to $160,000 (with any fractional share being rounded up to the next whole share). On the first day of each succeeding Plan Year, each Non-Employee
Director serving as such immediately after the annual meeting held on such day shall receive an Award having a Fair Market Value equal to $160,000 (with any fractional share being rounded up to the next whole share) or such greater amount as the
Committee determines in its discretion. If a Non-Employee Director first becomes a member of the Board after March 28, 2008 and on a day other than the first day of a Plan Year, the Committee may, in its discretion, make an Award to such
Non-Employee Director for such initial Plan Year having a Fair Market Value of up to $160,000 (with any fractional share being rounded up to the next whole share) or up to such greater amount paid to other Non-Employee Directors for such Plan Year.
Awards pursuant to this Section 5(a) shall be made in the form of Common Stock, Stock Options, Other Stock-Based Awards, or a combination of the foregoing as the Committee determines in its discretion. 

(b) Terms of Awards. 
 (i)
Awards pursuant to Section 5(a) that are denominated in Common Stock are eligible for participation in the Deferred Stock Program described in Section 7. 

 (ii) The term of each Stock Option or similar Other Stock-Based Award shall be ten years.
Each Stock Option or similar Other Stock-Based Award shall vest in not less than six months (or such longer period set forth in the Award agreement) and shall be forfeited if the participant does not continue to be a Non-Employee Director for the
duration of the vesting period, unless the participant ceases to be a Non-Employee Director by reason of the participant’s death or disability. Subject to the applicable Award agreement, Stock Options or similar Other Stock-Based Awards may be
exercised, in whole or in part, by giving written notice of exercise specifying the number of shares to be purchased. Such notice shall be accompanied by payment in full of the purchase price by certified or bank check or such other instrument as
the Company may accept (including, to the extent the Committee determines such a procedure to be acceptable, a copy of instructions to a broker or bank acceptable to the Company to deliver promptly to the Company an amount of sale or loan proceeds
sufficient to pay the purchase price). As determined by the Committee, payment in full or in part may also be made in the form of Common Stock already owned by the Non-Employee Director valued at Fair Market Value. 

Section 6. Award Agreements. 
 Each
Award of a Stock Option or Other Stock-Based Award under the Plan shall be evidenced by a written agreement (which need not be signed by the Award recipient unless otherwise specified by the Committee) that sets forth the terms, conditions and
limitations for each such Award. 
 Section 7. Payments and Payment Deferrals. 

(a) Each participant may elect to participate in a Deferred Stock Program with respect to Awards of Common Stock granted under Section 5(a). The
Deferred Stock Program shall be administered in accordance with the terms of this Section 7, provided that the Committee may modify the terms of the Deferred Stock Program or may require deferral of the payment of Awards under such rules and
procedures as it may establish. Any deferral election shall be made at a time and for such period as shall satisfy the requirements of Internal Revenue Code section 409A(a)(4). 
 (b) Any election to have the Company establish a Deferred Stock Account shall be made in terms of integral multiples of 25% of the number of shares of Common Stock that the participant otherwise would
have been granted on each date of grant, shall be made no later than the last day of the calendar year immediately preceding the date of grant (or in the case of a participant who is first becoming eligible for this Plan and any other Plan required
to be aggregated with this Plan under Internal Revenue Code section 409A and the regulations and other guidance thereunder, no later than 30 days after the participant first becomes eligible and before the date of grant), and shall specify the time
and form of distribution of the participant’s Deferred Stock Account in a manner complying with Internal Revenue Code section 409A(a)(2) and (3). Any such election shall remain in effect for purposes of the Plan until the participant executes
(i) a new election applicable to any grants denominated in Common Stock to be made in years after 

 
the year in which the new election is made or (ii) an election not to participate in the Deferred Stock Program for Common Stock grants in such future years. New elections pursuant to clause
(i) of the preceding sentence may be made only to the extent permitted under rules and procedures established by the Committee taking into account administrative feasibility and other constraints. 

(c) The Deferred Stock Account of a participant who elects to participate in the Deferred Stock Program shall be credited with shares of Deferred Stock
equal to the number of shares of Common Stock that the participant elected to receive as Deferred Stock. The Deferred Stock Account shall thereafter be credited with amounts equal to the cash dividends that would have been paid had the participant
held a number of shares of Common Stock equal to the number of shares of Deferred Stock in the participant’s Deferred Stock Account, and any such amounts shall be treated as invested in additional shares of Deferred Stock. 

(d) If as a result of adjustments or substitutions in connection with an event described in the second paragraph of Section 4 of this Plan or as a
result of the transfer of the Transferred Accounts, a participant has received or receives with respect to Deferred Stock credited to the participant’s Deferred Stock Account rights or amounts measured by reference to stock other than Common
Stock, (i) such rights or amounts shall be treated as subject to elections made, crediting of the participant’s account, and any other matters relating to this Plan in a manner parallel to the treatment of Deferred Stock under the Plan,
provided that any crediting of amounts to reflect dividends with respect to such other stock shall be treated as invested in additional Deferred Stock rather than such other stock, and (ii) within 12 months following the event described in
Section 4, the participant shall be offered the opportunity to convert the portion of his or her account measured by reference to such other stock to Deferred Stock with the same Fair Market Value (rounded as necessary to reflect fractional
shares) as of the date of such conversion. 
 (e) Any election by a participant for his or her Deferred Stock Account to be paid upon his or her
separation from service as a member of the Board shall be applied in accordance with Internal Revenue Code section 409A. No separation from service shall be deemed to occur until the participant ceases to serve on any and all of the Board of
Directors of the Company and the board of directors of any other company with respect to which his service as a director began while such other company was a subsidiary of the Company. 
 (f) The Deferred Stock Program shall be administered under such rules and procedures as the Committee may from time to time establish, including rules with respect to elections to defer, beneficiary
designations and distributions under the Deferred Stock Program. Notwithstanding anything in this Plan to the contrary, all elections to defer, distributions, and other aspects of the Deferred Stock Program shall be made in accordance with and shall
comply with Internal Revenue Code section 409A and any regulations and other guidance thereunder. 

 (g) Notwithstanding anything in this Plan to the contrary, with respect to a participant in this Plan who
was also a participant in the Deferred Stock Program of the Altria Group, Inc. Stock Compensation Plan for Non-Employee Directors (the “Altria Deferred Stock Program”) for service in 2008 and who is eligible for this Plan on March 28,
2008: 
 (i) the participant’s deferral elections in effect for 2008 under the Altria Deferred Stock Program with respect to
such participant’s stock compensation paid by the Altria Group, Inc. shall also apply with respect to Awards of Common Stock under this Plan to be paid to the participant by the Company for services performed in 2008 and future years;

 (ii) the balance credited to the participant’s Deferred Stock Account under the Altria Deferred Stock Program shall be
transferred to this Plan (a “Transferred Account”), and the unfunded liability relating to such Transferred Account shall be assumed by the Company; 
 (iii) the participant’s election as to the time and form of distribution of amounts deferred under the Altria Deferred Stock Program and credited to the Transferred Account shall continue to apply to
the Transferred Account, and the participant’s election as to the time and form of distribution of amounts deferred in 2008 under the Altria Deferred Stock Program shall also apply with respect to amounts deferred under this Plan in 2008 and
future years; and 
 (iv) the participant’s most recent beneficiary designation under the Altria Deferred Stock Program
shall continue to apply to the Transferred Account and shall also apply to amounts deferred under this Plan in 2008 and future years; 

provided, however, that any election or beneficiary designation carried over from the Altria Deferred Stock Program under this Section 7(g) may be
changed by the participant in the manner and to the extent permitted under the applicable provisions of this Section 7 and the rules and procedures established by the Committee pursuant to this Section 7. 

Section 8. Plan Amendment and Termination. 
 The Board may amend or terminate the Plan at any time without stockholder approval, including, but not limited to, any amendments necessary to comply with section 409A of the Internal Revenue Code of
1986, as amended, and any regulations and other guidance thereunder; provided, however, that no amendment shall be made without stockholder approval if such approval is required under applicable law, regulation, or stock exchange rule, or if such
amendment would: (i) decrease the grant or exercise price of any Stock Option or a similar Other Stock-Based Award to less than the Fair Market Value on the date of grant (except as contemplated by Section 4); or (ii) increase the
total number of shares of Common Stock that may be distributed under the Plan. Except as may be necessary to comply with a change in the laws, regulations or accounting principles of a foreign country applicable to participants subject to the laws
of such foreign country, the Committee may not, without stockholder approval, cancel any Stock Option or similar 

 
Other Stock-Based Award and substitute therefor a new Stock Option or Other Stock-Based Award with a lower exercise price. Except as set forth in any Award agreement or as necessary to comply
with applicable law or avoid adverse tax consequences to some or all Award recipients, no amendment or termination of the Plan may materially and adversely affect any outstanding Award under the Plan without the Award recipient’s consent.

 Section 9. Transferability. 
 Unless otherwise required by law, Awards shall not be transferable or assignable other than by will or the laws of descent and distribution. 
 Section 10. Unfunded Status of Plan. 
 It is presently intended that the Plan
constitute an “unfunded” plan for incentive and deferred compensation. The Committee may authorize the creation of trusts or other arrangements to meet the obligations created under the Plan to deliver Common Stock or make payments;
provided, however, that, unless the Committee otherwise determines, the existence of such trusts or other arrangements is consistent with the “unfunded” status of the Plan. 
 Section 11. General Provisions. 
 (a) The Committee may require each person acquiring
shares of Common Stock pursuant to an Award to represent to and agree with the Company in writing that such person is acquiring the shares without a view to the distribution thereof. The certificates for such shares may include any legend that the
Committee deems appropriate to reflect any restrictions on transfer. 
 All certificates for shares of Common Stock or other securities
delivered under the Plan shall be subject to such stock transfer orders and other restrictions as the Committee may deem advisable under the rules, regulations and other requirements of the Securities and Exchange Commission (or any successor
agency), any stock exchange upon which the Common Stock is then listed, and any applicable Federal, state or foreign securities law, and the Committee may cause a legend or legends to be put on any such certificates to make appropriate reference to
such restrictions. 
 (b) Nothing contained in the Plan shall prevent the Company from adopting other or additional compensation arrangements
for Non-Employee Directors. 
 (c) Nothing in the Plan or in any Award agreement shall confer upon any grantee the right to continued service as
a member of the Board. 
 (d) No later than the date as of which an amount first becomes includable in the gross income of the participant for
income tax purposes with respect to any Award under the Plan, the participant shall pay to the Company, or make arrangements satisfactory to the 

 
Company regarding the payment of, any Federal, state, local or foreign taxes of any kind that are required by law or applicable regulation to be withheld with respect to such amount. Unless
otherwise determined by the Committee, withholding obligations arising from an Award may be settled with Common Stock, including Common Stock that is part of, or is received upon exercise of the Award that gives rise to the withholding requirement.
The obligations of the Company under the Plan shall be conditional on such payment or arrangements, and the Company, shall, to the extent permitted by law, have the right to deduct any such taxes from any payment otherwise due to the participant.
The Committee may establish such procedures as it deems appropriate, including the making of irrevocable elections, for the settling of withholding obligations with Common Stock. 
 (e) The terms of this Plan shall be binding upon and shall inure to the benefit of any successor to Philip Morris International Inc. and any permitted successors or assigns of a grantee. 

(f) The Plan and all Awards made and actions taken thereunder shall be governed by and construed in accordance with the laws of the Commonwealth of
Virginia, excluding any conflicts or choice of law rule or principle that might otherwise refer construction or interpretation of the Plan to the substantive law of another jurisdiction. Unless otherwise provided in an Award, recipients of an Award
under the Plan are deemed to submit to the exclusive jurisdiction and venue of the federal or state courts of Virginia, to resolve any and all issues that may arise out of or relate to the Plan or any related Award. Notwithstanding anything in this
Plan to the contrary, the Plan shall be construed to reflect the intent of the Company that all elections to defer, distributions, and other aspects of the Plan shall comply with Internal Revenue Code section 409A and any regulations and other
guidance thereunder. 
 (g) If any provision of the Plan is held invalid or unenforceable, the invalidity or unenforceability shall not affect
the remaining parts of the Plan, and the Plan shall be enforced and construed as if such provision had not been included. 
 (h) The Plan shall
be effective January 29, 2008. Except as otherwise provided by the Board, no Awards shall be made after the Awards made immediately following the 2017 Annual Meeting of Shareholders, provided that any Awards granted prior to that date may
extend beyond it.Second Amendment to Loan and Security Agreement

 Exhibit 10.19 
 March 4, 2011 
 Russell Hobbs, Inc. 
 APN Holding Company, Inc. 
 Applica Americas, Inc. 

Applica Consumer Products, Inc. 
 Applica Mexico
Holdings, Inc. 
 Home Creations Direct, Ltd. 
 HP Delaware, Inc. 
 HPG LLC 
 Salton Holdings, Inc. 
 Toastmaster Inc. 
 SB/RH Holdings, LLC 
 3633 S. Flamingo Road 

Miramar, Florida 33027  

Attention: Nathan Fagre 
 Spectrum
Brands, Inc. 
 DB Online, LLC 
 ROV
Holding, Inc. 
 ROVCAL, Inc. 
 Schultz
Company 
 Spectrum Jungle Labs Corporation 
 Spectrum Neptune US Holdco Corporation 
 Tetra Holding (US), Inc. 

United Industries Corporation 
 United Pet Group,
Inc. 
 Seed Resources, L.L.C. 
 601
Rayovac Drive 
 Madison, Wisconsin 53711  
 Attention: Nathan Fagre 
  

	 	RE:	Second Amendment to Loan and Security Agreement (this “Letter Amendment”) 

 Ladies and Gentlemen: 
 Reference is made to that certain Loan and Security
Agreement dated as of June 16, 2010 (as at any time amended, modified, restated or supplemented, the “Loan Agreement”), among Spectrum Brands, Inc., a Delaware corporation (“Spectrum”), DB Online, LLC, a Hawaii
limited liability company (“DB Online”), ROV Holding, Inc., a Delaware corporation (“ROV Holding”), ROVCAL, Inc., a California corporation (“ROVCAL”), Schultz Company, a Missouri corporation
(“Schultz”), Spectrum Jungle Labs Corporation, a Texas corporation (“Spectrum Jungle”), Spectrum Neptune US Holdco Corporation, a Delaware corporation (“Spectrum Neptune”), Tetra Holding (US), Inc.,
a Delaware corporation (“Tetra Holding”), United Industries Corporation, a Delaware corporation (“United Industries”), United Pet Group, Inc., a Delaware corporation (“United Pet”), Seed Resources,
L.L.C., a Michigan limited liability company (“Seed Resources”), Russell Hobbs, Inc., a Delaware corporation (“RH”), APN Holding Company, Inc., a Delaware corporation (“APN”), Applica Americas,
Inc., a Delaware corporation (“Applica Americas”), Applica Consumer Products, Inc., a Florida corporation (“Consumer Products”), Applica Mexico Holdings, Inc., a Delaware corporation (“Applica
Mexico”), Home Creations Direct, Ltd., a Delaware corporation (“Home Creations”), HP Delaware, Inc., a Delaware corporation (“HP 

 
Delaware”), HPG LLC, a Delaware limited liability company (“HPG”), Salton Holdings, Inc., a Delaware corporation (“Salton”), and Toastmaster
Inc., a Missouri corporation (“Toastmaster”; Spectrum, DB Online, ROV Holding, ROVCAL, Schultz, Spectrum Jungle, Spectrum Neptune, Tetra Holding, United Industries, United Pet, Seed Resources, RH, APN, Applica Americas, Consumer
Products, Applica Mexico, Home Creations, HP Delaware, HPG, Salton, and Toastmaster are collectively referred to herein as “Borrowers” and, each individually, as a “Borrower”), SB/RH Holdings, LLC, a Delaware
limited liability company (“Guarantor”; Borrowers and Guarantor are collectively referred to herein as “Obligors” and, each individually, as an “Obligor”), Bank of America, N.A., a national banking
association, in its capacity as collateral agent and administrative agent (together with its successors in such capacities, “Administrative Agent”) for the financial institutions party to the Loan Agreement from time to time as
lenders (collectively, the “Lenders”), the Lenders, and the other parties party thereto. Capitalized terms used herein and not otherwise defined herein shall have the meaning ascribed to such terms in the Loan Agreement. 

Obligors have informed Administrative Agent and the Lenders that Spectrum, ROV Holdings, RH, Applica Americas, HP Delaware, and certain
Foreign Subsidiaries desire to enter into and engage in certain restructuring transactions, as more particularly described on Exhibit A attached to this Letter Amendment. Such restructuring transactions are collectively referred to in this
Letter Amendment as the “Global Integration Transactions”. 
 Obligors have requested that
(i) Administrative Agent and the Required Lenders consent to the Global Integration Transactions to the extent necessary, and (ii) Administrative Agent and the Required Lenders agree to amend the Loan Agreement. Subject to the terms and
conditions set forth in this Letter Amendment, Administrative Agent and the Required Lenders are willing to consent to the Global Integration Transactions and amend the Loan Agreement. 

NOW, THEREFORE, in consideration of the foregoing and other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties hereto hereby agree as follows: 
 1. Consent to Global Integration Transactions.

 (a) Subject to the terms and conditions set forth in this Letter Amendment, and notwithstanding anything to the contrary
in Section 11 of the Loan Agreement, the Administrative Agent and the Required Lenders consent to and agree that the Borrowers and their respective Subsidiaries may effect any of the Global Integration Transactions; provided
that, before and after giving effect to the consummation of the Global Integration Transactions and the consent provided under this Letter Amendment, (i) no Default or Event of Default shall have occurred and be continuing, and
(ii) the Borrowers and their respective Subsidiaries shall be in compliance with the applicable provisions of Section 7.6 of the Loan Agreement and the Security Documents without regard to or exception for any Subsidiary party to
the Global Integration Transactions being a Specified Dormant Foreign Subsidiary, the Obligors acknowledging that, in connection with the Global Integration Transactions, if any material assets (or the Equity Interests of any Subsidiary owning any
material assets) are transferred to a Specified Dormant Foreign Subsidiary (or a Subsidiary thereof), such Specified Dormant Foreign Subsidiary shall no longer be deemed a Specified Dormant Foreign Subsidiary, and the applicable Obligor shall
promptly execute and deliver to Administrative Agent a Pledge Agreement with respect to the Equity Interests (other than Equity Interests described in clause (a) of the definition of “Excluded Assets”) of the applicable Subsidiary
that is no longer a Specified Dormant Foreign Subsidiary. 
 (b) Subject to Section 1(a)(ii) of this Letter
Amendment, the Lenders hereby authorize Administrative Agent, upon receipt of written request from a Borrower, to release its Liens with respect to any Collateral sold, transferred or otherwise disposed of in connection with the Global Integration
Transactions, whether consummated on the date of this Letter Amendment or hereafter. 

  
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 2. Amendments to Loan Agreement. Without limiting the generality of the
consent provided in Section 1 above, the Loan Agreement is hereby amended as follows: 
 (a) By deleting clauses
(f) and (g) of the definition of “Permitted Asset Disposition” set forth in Section 1.1 of the Loan Agreement, and by substituting in lieu thereof the following new clauses (f) and (g), respectively, and
by adding a new clause (h) to the end of such definition, as set forth below: 
 (f) other dispositions
expressly authorized by other provisions of the Loan Documents; 
 (g) a sale, transfer or other disposition of
any Non-Current Asset Collateral or assets of Foreign Subsidiaries so long as (i) such sale, transfer or other disposition is permitted by Section 6.05 of the Senior Term Loan Agreement and Section 4.12 of the Senior Secured Note
Indenture, in each case, as in effect on the date hereof, (ii) all Net Proceeds are remitted to Administrative Agent, provided that, subject to the ABL Intercreditor Agreement, such Net Proceeds may be retained by the applicable
Obligor for investment or remitted to the Term/Notes Secured Parties in accordance with the Collateral Trust Agreement as in effect on the date hereof, and (iii) with respect to a sale of Non-Current Asset Collateral with a fair market value
exceeding $5,000,000 (other than a sale, transfer or other disposition made in connection with the Global Integration Transactions), Borrower Agent shall have delivered a certificate of a Senior Officer, certifying as to the foregoing and containing
reasonably detailed calculations in support thereof, in form and substance reasonably satisfactory to Administrative Agent; or 
 (h) any sale, transfer or other disposition of any Non-Current Asset Collateral or assets of Foreign Subsidiaries made in connection with the Global Integration Transactions. 

(b) By deleting clause (h) of the definition of “Restricted Investment” set forth in Section 1.1 of the
Loan Agreement, and by substituting in lieu thereof the following new clause (h): 
 (h) Promissory notes and
other non-cash consideration received in connection with Asset Dispositions permitted by Section 10.2.6, including, without limitation, promissory notes and Equity Interests received in connection with the Global Integration
Transactions; 
 (c) By adding the following new definitions of “March 2011 Letter Amendment” and
“Global Integration Transactions” to Section 1.1 of the Loan Agreement, in appropriate alphabetical sequence: 
 March 2011 Letter Amendment: that certain letter amendment dated March 4, 2011, by and among Obligors, Administrative Agent, and the Required Lenders. 

Global Integration Transactions: as defined in the March 2011 Letter Amendment. 

(d) By deleting the phrase “Intercompany Debt” contained in Section 10.2.1(e) of the Loan Agreement, and by
substituting in lieu thereof the phrase “Intercompany Loans”. 

  
 - 3 -

 (e) By deleting clause (i) of Section 10.2.1 of the Loan Agreement, and by
substituting in lieu thereof the following new clause (i): 
 (i) Debt incurred by Foreign Subsidiaries in an
aggregate principal amount not exceeding $75,000,000 at any time outstanding, provided that the immediately foregoing $75,000,000 limitation shall not apply to any Debt incurred by Foreign Subsidiaries in connection with the Global
Integration Transactions; 
 (f) By deleting Section 10.2.9 of the Loan Agreement, and by substituting in lieu
thereof the following new Section 10.2.9: 
 10.2.9 Fundamental Changes. (a) Merge,
combine or consolidate with and into any Person, or liquidate, wind up its affairs or dissolve itself, in each case whether in a single transaction or in a series of related transactions, except for mergers or consolidations of (i) a
wholly-owned Subsidiary with another wholly-owned Subsidiary, (ii) an Obligor with an Obligor, (iii) an Obligor with and into a Borrower in a transaction in which such Borrower is the surviving Person of (iv) in connection with a
Permitted Acquisition; or (b) solely in the case of an Obligor, change (i) its name or conduct business under any fictitious name, (ii) its tax, charter or other organizational identification number or (iii) its form or
jurisdiction of organization, except in each case under this clause (b), (A) in connection with a transaction permitted under clause (a) of this Section 10.2.9, and (B) unless (I) such Obligor shall have given
Administrative Agent at least thirty (30) days’ prior written notice thereof and (II) Administrative Agent shall have taken all steps deemed necessary by Administrative Agent to maintain the validity, enforceability, perfection and
priority of Administrative Agent’s security interest in the Collateral of such Obligor and its Subsidiaries, and Obligors shall have executed and delivered such documents, instruments and agreements requested by Administrative Agent in
connection therewith. 
 (g) By deleting Section 10.2.17 of the Loan Agreement, and by substituting in lieu thereof
the following new Section 10.2.17: 
 10.2.17 Affiliate Transactions. Enter into or be party
to any transaction with an Affiliate, except (a) transactions contemplated by or permitted under the Loan Documents; (b) expense reimbursement, indemnities, salaries and other compensation to current and former officers, directors,
consultants, advisors and employees, and loans and advances permitted by Section 10.2.7; (c) payment of customary directors’ fees and indemnities; (d) transactions solely among Obligors; (e) transactions with
Affiliates that were consummated prior to the Closing Date, as shown on Schedule 10.2.17; (f) transactions with Affiliates in the Ordinary Course of Business, upon fair and reasonable terms fully disclosed to Administrative Agent
and no less favorable than would be obtained in a comparable arm’s-length transaction with a non-Affiliate; (g) entering into employment, service, retention, bonus, change in control, severance, or other compensation or employee benefit
arrangements between any Obligor or any of the Subsidiaries and their respective current and former officers, directors, consultants, advisors and employees, as determined in good faith by the board of directors (or a committee thereof) or senior
management of the relevant entity; (h) transactions listed on Schedule 10.2.17; or (i) the Global Integration Transactions. 

  
 - 4 -

 3. Miscellaneous. 

(a) Each Obligor hereby ratifies and reaffirms the Obligations, the Loan Agreement each of the other Loan Documents and all of such
Obligor’s covenants, duties, indebtedness and liabilities under the Loan Agreement and the other Loan Documents. 
 (b)
Each Obligor represents and warrants to Administrative Agent and Lenders, to induce Administrative Agent and the applicable Lenders to enter into this Letter Amendment, that no Default or Event of Default exists immediately prior to and immediately
after giving effect to this Letter Amendment; the execution, delivery and performance of this Letter Amendment have been duly authorized by all requisite corporate or limited liability company action, as applicable, on the part of Obligors and this
Letter Amendment has been duly executed and delivered by Obligor; and all of the representations and warranties made by Obligors in the Loan Agreement are true and correct in all material respects on and as of the effective date of this Letter
Amendment (except for representations and warranties that expressly relate to an earlier date). This Amendment shall be part of the Loan Agreement and a breach of any representation, warranty or covenant herein shall constitute an Event of Default.

 (c) Obligors agree to pay, on demand, all costs and expenses incurred by Administrative Agent in connection with the
preparation, negotiation and execution of this Letter Amendment and any other Loan Documents executed pursuant hereto and any and all amendments, modifications, and supplements thereto, including, without limitation, the costs and fees of
Administrative Agent’s legal counsel and any taxes or expenses associated with or incurred in connection with any instrument or agreement referred to herein or contemplated hereby. 

(d) Except as otherwise expressly provided in this Letter Amendment, nothing herein shall be deemed to amend or modify any provision of
the Loan Agreement or any of the other Loan Documents, each of which shall remain in full force and effect. This Letter Amendment is not intended to be, nor shall it be construed to create, a novation or accord and satisfaction, and the Loan
Agreement as herein modified shall continue in full force and effect. 
 (e) This Letter Amendment shall be effective when
accepted by Administrative Agent and the Required Lenders (notice of which acceptance is hereby waived), whereupon this Letter Amendment shall be a contract governed by and construed in accordance with the internal laws of the State of New York and
shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns. This Letter Amendment may be executed in any number of counterparts and by different parties to this Letter Amendment on separate
counterparts, each of which, when so executed, shall be deemed an original, but all such counterparts shall constitute one and the same agreement. Any signature delivered by a party by facsimile or other electronic transmission shall be deemed to be
an original signature hereto. 
 (f) To the fullest extent permitted by Applicable Law, the parties hereto each hereby waives
the right to trial by jury in any action, suit, counterclaim or proceeding arising out of or related to this Letter Amendment. 
 [Remainder of page intentionally left blank; Signatures appear on following pages.] 

  
 - 5 -

 The parties hereto have caused this Letter Amendment to be duly executed and delivered by
their respective duly authorized officers on the date first written above. 
  

			
	ADMINISTRATIVE AGENT:
	
	BANK OF AMERICA, N.A., as Administrative Agent
		
	By:	 	 /s/ Lisa Freeman

	Name:	 	 Lisa Freeman

	Title:	 	 SVP

 [Signatures continue on following pages.] 
 Letter Amendment - Spectrum Brands, Inc. 

 
			
	LENDERS:
	
	BANK OF AMERICA, N.A.
		
	By:	 	 /s/ Lisa Freeman

	Name:	 	 Lisa Freeman

	Title:	 	 SVP

 [Signatures continue on following pages.] 
 Letter Amendment - Spectrum Brands, Inc. 

 
			
	CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH
		
	By:	 	 /s/ John D. Toronto

	Name:	 	 John D. Toronto

	Title:	 	 Managing Director

[Signatures continue on following pages.] 
 Letter Amendment - Spectrum Brands, Inc. 

 
			
	DEUTSCHE BANK TRUST COMPANY AMERICAS
		
	By:	 	 /s/ Scottye Lindsey

	Name:	 	 Scottye Lindsey

	Title:	 	 Director

		
	By:	 	 /s/ Erin Morrissey

	Name:	 	 Erin Morrissey

	Title:	 	 Vice President

[Signatures continue on following pages.] 
 Letter Amendment - Spectrum Brands, Inc. 

 
			
	REGIONS BANK
		
	By:	 	 /s/ Curtis J. Correa

	Name:	 	 Curtis J. Correa

	Title:	 	 Senior Vice President

[Signatures continue on following pages.] 
 Letter Amendment - Spectrum Brands, Inc. 

 
			
	SUNTRUST BANK
		
	By:	 	 /s/ B. Earl Garris

	Name:	 	 B. Earl Garris

	Title:	 	 Director, PM, ABL

[Signatures continue on following pages.] 
 Letter Amendment - Spectrum Brands, Inc. 

 
			
	WELLS FARGO CAPITAL FINANCE, LLC
		
	By:	 	 /s/ David P. Hill

	Name:	 	 David P. Hill

	Title:	 	 Vice President

[Signatures continue on following pages.] 
 Letter Amendment - Spectrum Brands, Inc. 

 
			
	GENERAL ELECTRIC CAPITAL CORPORATION
		
	By:	 	 /s/ Nita Jain

	Name:	 	 Nita Jain

	Title:	 	 Duly Authorized Signatory

[Signatures continue on following pages.] 
 Letter Amendment - Spectrum Brands, Inc. 

 Acknowledged and accepted: 
 OBLIGORS: 
 RUSSELL HOBBS, INC. 

APN HOLDING COMPANY, INC. 
 APPLICA
AMERICAS, INC. 
 APPLICA CONSUMER PRODUCTS, INC. 
 APPLICA MEXICO HOLDINGS, INC. 
 HOME CREATIONS DIRECT, LTD. 

HP DELAWARE, INC. 
 HPG LLC

 SALTON HOLDINGS, INC. 

TOASTMASTER INC. 
 SB/RH HOLDINGS, LLC

 SPECTRUM BRANDS, INC. 

DB ONLINE, LLC 
 ROVCAL, INC.

 SPECTRUM JUNGLE LABS CORPORATION 
 SPECTRUM NEPTUNE US HOLDCO CORPORATION 
 TETRA HOLDING (US), INC. 

UNITED PET GROUP, INC. 
 SEED
RESOURCES, L.L.C. 
 ROV HOLDING, INC. 
 SCHULTZ COMPANY 
 UNITED INDUSTRIES CORPORATION 

 

			
	By:	 	 /s/ Anthony L. Genito

		 	Anthony L. Genito
		 	Executive Vice President & CFO

  

	cc:	Paul, Weiss, Rifkind, Wharton & Garrison LLP 

 1285 Avenue of The Americas 
 New York, New York 10019  

Attention: Eric Goodison, Esq. 
 Letter Amendment - Spectrum Brands, Inc.

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