Document:

EX-10.2

 Exhibit 10.2 

Teledyne FLIR, LLC 
 and

 U.S. Bank National Association, 

as Trustee 
 SECOND
SUPPLEMENTAL INDENTURE 
 Dated as of May 14, 2021 

to the Indenture dated as of March 22, 2021 

0.650% Notes due 2023 

0.950% Notes due 2024 

1.600% Notes due 2026 

2.250% Notes due 2028 

2.750% Notes due 2031 

 TABLE OF CONTENTS 

 

							
	 1.
	 	GENERALLY	  	 	1	 
	 2.
	 	AGREEMENT TO GUARANTEE	  	 	1	 
	 3.
	 	EXECUTION AND DELIVERY	  	 	3	 
	 4.
	 	GUARANTOR MAY CONSOLIDATE, ETC., ON CERTAIN TERMS	  	 	3	 
	 5.
	 	RELEASE	  	 	3	 
	 6.
	 	NO RECOURSE AGAINST OTHERS	  	 	3	 
	 7.
	 	TRUSTEE NOT RESPONSIBLE FOR RECITALS	  	 	4	 
	 8.
	 	HEADINGS, ETC.	  	 	4	 
	 9.
	 	MULTIPLE COUNTERPARTS	  	 	4	 
	 10.
	 	GOVERNING LAW	  	 	4	 

  
 i 

 SECOND SUPPLEMENTAL INDENTURE 

THIS SECOND SUPPLEMENTAL INDENTURE, dated as of May 14, 2021 (the “Supplemental Indenture”), between Teledyne FLIR,
LLC, a Delaware limited liability company (the “Guarantor”) and U.S. Bank National Association, a national banking association, as trustee (the “Trustee”). 

RECITALS: 

WHEREAS, Teledyne Technologies Incorporated, a Delaware corporation (the “Company”) has executed and delivered to the
Trustee an Indenture, dated as of March 22, 2021 (the “Indenture”), as supplemented by the First Supplemental Indenture thereto, dated as of March 22, 2021 (the “First Supplemental Indenture”) providing
for the issuance by the Company of its 0.650% Notes due 2023 (the “2023 Notes”), 0.950% Notes due 2024 (the “2024 Notes”), 1.600% Notes due 2026 (the “2026 Notes”), 2.250% Notes due 2028 (the
“2028 Notes”) and 2.750% Notes due 2031 (the “2031 Notes” and, together with the 2023 Notes, the 2024 Notes, the 2026 Notes and the 2028 Notes, the “Securities”); 

WHEREAS, the Indenture provides that, under certain circumstances, the Guarantor shall execute and deliver to the Trustee a
supplemental indenture pursuant to which the Guarantor shall unconditionally guarantee all of the Company’s obligations under the Securities and the Indenture on the terms and conditions set forth herein; 

WHEREAS, all things necessary to make this Supplemental Indenture a valid agreement of the Guarantor and the Trustee, in accordance
with its terms, and a valid amendment of, and supplement to, the Indenture have been done; 
 NOW, THEREFORE, in consideration of the
premises and the purchase and acceptance of the Securities by the Holders thereof, the Guarantor covenants and agrees with the Trustee, for the equal and ratable benefit of the Holders, that the Indenture is supplemented and amended, to the extent
expressed herein as follows: 
 1.    Generally. 

(a)    Capitalized terms used herein and not otherwise defined shall have the respective meanings ascribed thereto in the
Indenture. 
 (b)    The rules of construction set forth in the Indenture shall be applied hereto as if set forth in
full herein. 
 2.    Agreement to Guarantee. 

(a)    In accordance with the terms of Article 7 of the First Supplemental Indenture, the Guarantor jointly and severally,
with any other Guarantors, and fully and unconditionally guarantees to each Holder of a Security authenticated and delivered by the Trustee and to the Trustee and its successors and assigns, irrespective of the validity and enforceability of the
Indenture, the Securities or the obligations of the Company hereunder or thereunder, that: 
 (i)    the
principal of, premium, if any, and interest on the Securities shall be promptly paid in full when due, whether at maturity, by acceleration, redemption or otherwise, and interest on the overdue principal of, premium, if any, and interest on the
Securities, if lawful (subject in all cases to any applicable grace period provided in the Indenture), and all other obligations of the 

  
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Company to the Holders or the Trustee under the Securities or under the Indenture, including any obligations to repurchase Securities from the Holders, will be promptly paid in full or performed,
all in accordance with the terms hereof and thereof; and 
 (ii)    in case of any extension of time of
payment or renewal of any Securities or any of such other obligations, the same will be promptly paid in full when due or performed in accordance with the terms of the extension or renewal, whether at stated maturity, by acceleration or otherwise.
Failing payment when due of any amount so guaranteed or any performance so guaranteed for whatever reason, the Guarantor shall be jointly and severally obligated to pay the same immediately. The Guarantor agrees that this is a guarantee of payment
and not a guarantee of collection. 
 (b)    The Guarantor hereby agrees that, to the maximum extent permitted under
applicable law, its obligations hereunder shall be unconditional, irrespective of the validity, regularity or enforceability of the Securities or the Indenture, the absence of any action to enforce the same, any waiver or consent by any Holder of
the Securities with respect to any provisions hereof or thereof, the recovery of any judgment against the Company, any action to enforce the same or any other circumstance that might otherwise constitute a legal or equitable discharge or defense of
the Guarantor. 
 (c)    The Guarantor, pursuant to Section 7.02 of the First Supplemental Indenture, hereby waives
diligence, presentment, demand of payment, filing of claims with a court in the event of insolvency or bankruptcy of the Company, any right to require a proceeding first against the Company, protest, notice and all demands whatsoever and covenants
that this Guarantee shall not be discharged except by complete performance of the obligations contained in the Securities and the Indenture. 

(d)    The Guarantor agrees that if any Holder or the Trustee is required by any court or otherwise to return to the
Company, the Guarantors, or any custodian, trustee, liquidator or other similar official acting in relation to any of the Company or the Guarantors, any amount paid by any of them to the Trustee or such Holder, this Guarantee, to the extent
theretofore discharged, shall be reinstated in full force and effect. 
 (e)    The Guarantor agrees that it shall not
be entitled to any right of subrogation in relation to the Holders in respect of any obligations guaranteed hereby until payment in full of all obligations guaranteed hereby. 

(f)    The Guarantor agrees that, as between the Guarantors, on the one hand, and the Holders and the Trustee, on the
other hand, (x) the maturity of the obligations guaranteed hereby may be accelerated as provided in Article 5 of the Indenture for the purposes of this Guarantee, notwithstanding any stay, injunction or other prohibition preventing such
acceleration in respect of the obligations guaranteed hereby, and (y) in the event of any declaration of acceleration of such obligations as provided in Article 5 of the Indenture, such obligations (whether or not due and payable) shall
forthwith become due and payable by the Guarantor for the purpose of this Guarantee. 
 (g)    If the Guarantor makes a
payment under its Guarantee, the Guarantor shall have the right to seek contribution from any non-paying Guarantor, so long as the exercise of such right does not impair the rights of the Holders under the
Guarantee. 
 (h)    The Guarantor confirms, pursuant to Section 7.02 of the First Supplemental Indenture, that the
maximum aggregate amount guaranteed hereunder shall not exceed the maximum amount that can be hereby guaranteed without rendering this Guarantee voidable under applicable law relating to fraudulent conveyance or fraudulent transfer or similar laws
affecting the rights of creditors generally. 

  
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 3.    Execution and Delivery. The Guarantor agrees that
the Guarantee shall remain in full force and effect notwithstanding any failure to endorse on each Security a notation of such Guarantee. 

4.    Guarantor May Consolidate, etc., on Certain Terms. 

(a)    Except as set forth in Section 5 hereto, the Guarantor agrees that it may not sell, lease, transfer, convey or
otherwise dispose of all or substantially all of its assets to, or consolidate with or merge with or into (whether or not the Guarantor is the surviving Person), another Person, other than the Company or another Guarantor, unless
(1) immediately after giving effect to that transaction, no Default or Event of Default exists and (2) the Person acquiring the property in any such sale, lease, transfer, conveyance or other disposition or the Person formed by or
surviving any such consolidation or merger (if other than the Guarantor) is organized or existing under the laws of the United States of America, any State thereof or the District of Columbia and assumes all the obligations of the Guarantor under
the Indenture and the Guarantee pursuant to a supplemental indenture satisfactory to the Trustee. 
 (b)    In case of
any such consolidation, merger, sale, lease, transfer, conveyance or other disposition governed by Section 4(a)(2), above, upon the assumption by the successor Person, by supplemental indenture, executed and delivered to the Trustee and
satisfactory in form to the Trustee, of the Guarantee endorsed upon the Securities and the due and punctual performance of all of the covenants and conditions to be performed by the Guarantor pursuant to the Indenture, such successor Person shall
succeed to and be substituted for the Guarantor with the same effect as if it had been named herein as the Guarantor. Such successor Person thereupon may cause to be signed any or all of the Guarantees to be endorsed upon all of the Securities
issuable hereunder which theretofore shall not have been signed by the Company and delivered to the Trustee. Any Guarantee so issued shall in all respects have the same legal rank and benefit under the Indenture as the Guarantees theretofore and
thereafter issued in accordance with the terms of the Indenture as though all of such Guarantees had been issued at the date of the execution hereof. 

5.    Release. 

(a)    The Guarantor shall be automatically released and relieved of any obligations under its Guarantee, (i) in
connection with any sale or other disposition of all of the capital stock of the Guarantor, or all or substantially all of the Guarantor’s assets, to a Person that is not (either before or after giving effect to such transaction) the Company or
a Domestic Subsidiary of the Company required to deliver a Guarantee under Section 4.03 of the First Supplemental Indenture; (ii) upon Legal Defeasance or Covenant Defeasance as permitted under the Indenture; or (iii) upon release or
discharge of all guarantees by the Guarantor of all other indebtedness of the Company, except a discharge or release by or as a result of payment under such guarantees of other indebtedness of the Company. In addition, if applicable, the Guarantor
shall be automatically released and relieved of any obligations under its Guarantee in accordance with Section 4.03 of the First Supplemental Indenture. 

(b)    Upon delivery by the Company to the Trustee of an Officer’s Certificate to the effect that one of the
foregoing requirements has been satisfied and the conditions to the release of the Guarantor under this Section 5 have been met, the Trustee shall execute any documents reasonably required in order to evidence the release of the Guarantor from
its obligations under its Guarantee. If the Guarantor is not released from its obligations under the Guarantee, the Guarantor shall remain liable for the full amount of principal of, premium, if any, and interest on the Securities and for any other
obligations of the Company as provided in Article 7 of the First Supplemental Indenture. 
 6.    No Recourse
Against Others. Pursuant to Section 1.15 of the Indenture, no director, officer, employee, incorporator, stockholder, member, manager or partner of the Guarantor shall have any liability for any obligations of the Guarantor under the
Securities, the Indenture, the Guarantee or for any claim based on, in respect of, or by reason of, such obligations or their creation. 

  
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 7.    Trustee Not Responsible for Recitals. The recitals
contained herein shall be taken as the statements of the Guarantor, and the Trustee assumes no responsibility for the correctness of the same. The Trustee makes no representations as to the validity or sufficiency of this Supplemental Indenture or
of the Securities. 
 8.    Headings, Etc. The headings of Sections of this Supplemental Indenture have
been inserted for convenience of reference only, are not to be considered a part hereof and shall in no way modify or restrict any of the terms or provisions hereof. 

9.    Multiple Counterparts. The parties may sign multiple counterparts of this Supplemental Indenture. Each
signed copy shall be deemed an original, but all of them together represent one and the same agreement. 

10.    Governing Law. THIS SUPPLEMENTAL INDENTURE AND THE SECURITIES SHALL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 
 [Signature Page Follows] 

  
 4 

 IN WITNESS WHEREOF, the parties have caused this Supplemental Indenture to be duly executed
all as of the date and year first written above. 
  

			
	 TELEDYNE FLIR, LLC,
 as
Guarantor

		
	By:	 	 /s/ Stephen F. Blackwood

	Name:	 	Stephen F. Blackwood
	Title:	 	Senior Vice President and Treasurer

  

			
	 U.S. BANK NATIONAL ASSOCIATION,

as Trustee

		
	By:	 	 /s/ Bradley E. Scarbrough

	Name:	 	Bradley E. Scarbrough
	Title:	 	Vice President

 [Signature Page to Second Supplemental Indenture] 

  
 5EX-10.3

 Exhibit 10.3 

JOINDER AGREEMENT 
 THIS
JOINDER AGREEMENT (the “Agreement”) dated as of May 14, 2021 is by and between Teledyne FLIR LLC, a Delaware limited liability company (“Teledyne FLIR”), and Bank of America, N.A., in its capacity as
Administrative Agent under that certain Term Loan Credit Agreement, dated as of March 4, 2021 (as amended, restated, amended and restated, supplemented, extended or otherwise modified from time to time, the “Credit Agreement”),
among Teledyne Technologies Incorporated, a Delaware corporation, the Lenders from time to time party thereto and Bank of America, N.A., as Administrative Agent. Capitalized terms used herein and not otherwise defined herein shall have the meanings
assigned to such terms in the Credit Agreement. 
 The Loan Parties are required by Section 7.12 of the Credit Agreement to cause
Teledyne FLIR to become a “Guarantor” thereunder. Accordingly, Teledyne FLIR hereby agrees as follows with the Administrative Agent, for the benefit of the Lenders: 

1.    Teledyne FLIR hereby acknowledges, agrees and confirms that, by its execution of this Agreement, Teledyne FLIR will
be deemed to be a party to the Credit Agreement and the “Guarantor” for all purposes of the Credit Agreement, and shall have all of the obligations of the Guarantor thereunder as if it had executed the Credit Agreement. Teledyne FLIR
hereby ratifies, as of the date hereof, and agrees to be bound by, all of the terms, provisions and conditions applicable to the Guarantor contained in the Credit Agreement. Without limiting the generality of the foregoing terms of this paragraph 1,
Teledyne FLIR hereby guarantees to each Lender, each Swap Bank, each Treasury Management Bank and the Administrative Agent, as provided in Article IV of the Credit Agreement, the prompt payment and performance of the Obligations in full when due
(whether at stated maturity, as a mandatory prepayment, by acceleration or otherwise) strictly in accordance with the terms thereof. 

2.    Teledyne FLIR hereby represents and warrants to the Administrative Agent that Teledyne FLIR’s exact legal name
and state of formation are as set forth on the signature pages hereto. 
 3.    The address of Teledyne FLIR for
purposes of all notices and other communications is the address designated for all Loan Parties on Schedule 11.02 to the Credit Agreement or such other address as Teledyne FLIR may from time to time notify the Administrative Agent in writing. 

4.    Teledyne FLIR hereby waives acceptance by the Administrative Agent and the Lenders of the guaranty by Teledyne FLIR
under Article IV of the Credit Agreement upon the execution of this Agreement by Teledyne FLIR. 
 5.    This Agreement
may be executed in counterparts (and by different parties hereto in different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. Delivery of an executed counterpart of
a signature page of this Agreement by facsimile or other electronic imaging means (e.g. “pdf” or “tif”) shall be effective as delivery of a manually executed counterpart of this Agreement. 

6.    THIS AGREEMENT AND ANY CLAIMS, CONTROVERSY, DISPUTE OR CAUSE OF ACTION (WHETHER IN CONTRACT OR TORT OR OTHERWISE)
BASED UPON, ARISING OUT OF OR RELATING TO THIS AGREEMENT AND THE TRANSACTIONS CONTEMPLATED HEREBY SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. 

[signature page follows] 

 IN WITNESS WHEREOF, Teledyne FLIR has caused this Joinder Agreement to be duly executed by
its authorized officer, and the Administrative Agent, for the benefit of the Lenders, has caused the same to be accepted by its authorized officer, as of the day and year first above written. 

 

			
	TELEDYNE FLIR, LLC
		
	By:	 	 /s/ Susan L. Main

	Name: Susan L. Main
	Title: Senior Vice President

 Acknowledged and accepted: 
  

			
	BANK OF AMERICA, N.A.,
as Administrative Agent
		
	By:	 	 /s/ Maurice Washington

	Name: Maurice Washington
	Title: Vice President

 [Signature Page to Joinder (2021 Term Loan)]

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