Document:

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                                                                 EXHIBIT 10.13.3

                                                               EXECUTION VERSION

                 SECOND AMENDMENT TO LOAN AND SECURITY AGREEMENT

                  This SECOND AMENDMENT TO LOAN AND SECURITY AGREEMENT entered
into as of this 22nd day of December, 2004 (this "Second Amendment"), is hereby
entered into among, on the one hand, the lenders identified on the signature
pages hereto (such lenders, together with their respective assigns, are referred
to hereinafter each individually as a "Lender" and collectively, the "Lenders")
and WELLS FARGO FOOTHILL, INC. (formerly known as Foothill Capital Corporation),
a California corporation, as the arranger and administrative agent ("Agent") for
all the Lenders under the Loan Agreement (as hereinafter defined), and, on the
other hand, AMTROL INC., a Rhode Island corporation (the "Administrative
Borrower"), WATER SOFT INC., a Rhode Island corporation ("Water Soft") and
AMTROL CANADA LTD., an Ontario corporation (together with the Administrative
Borrower and Water Soft, each individually a "Borrower," and individually and
collectively, jointly and severally, "Borrowers").

                                    RECITALS

                  WHEREAS, Lenders, Borrowers, Amtrol Holdings, Inc.
("Holdings"), and Agent have executed and delivered that certain Loan and
Security Agreement dated as of December 26, 2001, as amended by the First
Amendment and Waiver dated as of November 18, 2003 (as may be further amended,
modified or supplemented from time to time, the "Loan Agreement");

                  WHEREAS, Borrowers have requested that Ableco Finance LLC, a
Delaware limited liability company (the "Term B Lender") extend the maturity
date of the Term Loan B to December 21, 2006;

                  WHEREAS, the Term B Lender is willing to extend the maturity
date of the Term Loan B but only upon certain terms and conditions set forth
herein;

                  WHEREAS, Borrowers have requested, and the Lenders and Agent
have agreed to, the modifications and amendments of the Loan Agreement as set
forth herein; and

                  NOW, THEREFORE, for good and valuable consideration, the
receipt and adequacy of which are hereby acknowledged, and upon the terms and
conditions set forth herein Borrowers, the Guarantors and the Lenders hereby
agree as follows:

             SECTION 1. RELATION TO THE LOAN AGREEMENT; DEFINITIONS.

                  1.1 RELATION TO LOAN AGREEMENT. This Second Amendment
constitutes an integral part of the Loan Agreement and shall be deemed to be a
Loan Document for all purposes. Upon the effectiveness of this Second Amendment,
on and after the date hereof each reference in the Loan Agreement to "this
Agreement," "hereunder," "hereof," or words of like import referring to the Loan
Agreement, and each reference in the other Loan Documents to "the Loan
Agreement," "thereunder," "thereof" or words of like import referring to the
Loan Agreement, shall mean and be a reference to the Loan Agreement as amended
hereby.
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                  1.2 CAPITALIZED TERMS. For all purposes of this Second
Amendment, capitalized terms used herein without definition shall have the
meanings specified in the Loan Agreement.

                     SECTION 2. AMENDMENT TO LOAN AGREEMENT.

                  2.1 AMENDMENT TO SECTION 2.2(B).

                  Section 2.2(b)(iv) of the Loan Agreement is hereby amended by
deleting it in its entirety and replacing it with the following new Section:

                  "(iv) The outstanding unpaid principal balance and all accrued
and unpaid interest under the Term Loan B made pursuant to Section 2.2(b)(i)
shall be due and payable on the date of termination of this Agreement, whether
by its terms, by prepayment, or by acceleration. All amounts outstanding under
the Term Loan B shall constitute Obligations."

           SECTION 3. REPRESENTATIONS, WARRANTIES AND ACKNOWLEDGMENTS.

                  3.1 REPRESENTATIONS.

                           Each Borrower and Guarantor hereby represents and
warrants to Agent and Lenders that:

                           (a) Each Borrower and Guarantor is duly organized and
existing and in good standing under the laws of its respective jurisdiction of
formation and is duly qualified to do business in every jurisdiction where the
failure to be so qualified reasonably could be expected to have a Material
Adverse Change;

                           (b) Each Borrower and Guarantor has all requisite
power and authority necessary to enter into this Second Amendment and to perform
its respective obligations under this Second Amendment;

                           (c) Each Borrower and Guarantor has taken all
corporate action necessary to be taken by it to authorize the execution and
delivery of this Second Amendment. This Second Amendment has been duly executed
and delivered by each Borrower and Guarantor and constitutes legal, valid and
binding obligations of each Borrower and Guarantor, enforceable against each
Borrower and Guarantor in accordance with its respective terms;

                           (d) No event has occurred and no condition exists
which constitutes a Default or an Event of Default under the Loan Agreement or
the other Loan Documents; and

                           (e) The Loan Agreement and all other Loan Documents
and all representations, warranties, terms and conditions therein remain in full
force and effect, and each Borrower and Guarantor hereby (i) confirms and agrees
that each Loan Document to which it is a party is, and shall continue to be, in
full force and effect and is hereby ratified and confirmed in all respects, and
(ii) confirms and agrees that to the extent that any such Loan Document purports
to assign or pledge to the Agent for the benefit of the Lenders, or to grant a
security interest in or

                                      -2-
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Lien on, any collateral as security for the obligations of each Borrower or
Guarantor from time to time existing in respect of the Loan Agreement and the
other Loan Documents, such pledge, assignment and/or grant of the security
interest or Lien is hereby ratified and confirmed in all respects.

                           SECTION 4. MISCELLANEOUS.

                  4.1 CONDITIONS TO EFFECTIVENESS. The amendments contained in
Sections 2 above shall become effective as of the date when, and only when, the
following conditions have been satisfied as determined in Agent's and Term B
Lender's sole and absolute discretion (the first date upon which all such
conditions have been satisfied being herein referred to as the "Effective
Date"):

                           (a) duly executed counterparts of this Second
Amendment shall have been executed and delivered by Agent, Lenders, Borrowers,
and Guarantors on or before the date of this Second Amendment;

                           (b) Borrowers shall have delivered to Agent and Term
B Lender a certificate from the Secretary of each Borrower and Guarantor
attesting to the resolutions of such Person's Board of Directors authorizing its
execution, delivery, and performance of this Second Amendment and authorizing
specific officers of such Person to execute the same;

                           (c) the Agent and the Term B Lender shall have
received an acknowledgment, duly executed by each Other Senior Lender
acknowledging and agreeing to the extension of the maturity date of the Term
Loan B to December 21, 2006;

                           (d) Borrowers shall have paid to Term B Lender, for
its sole account, an amendment fee in the amount of $50,000 in immediately
available funds; and

                           (e) Borrowers shall have paid all fees, costs and
expenses incurred in connection with this Second Amendment as of the date of
this Second Amendment, including, without limitation, legal fees and expenses of
Paul, Hastings, Janofsky & Walker LLP, counsel to the Term B Lender, and Schulte
Roth & Zabel LLP, counsel to Agent, as have been billed as of the date of this
Second Amendment.

                  4.2 CROSS-REFERENCES. References in this Second Amendment to
any Section (or "Section") are, unless otherwise specified, to such Section (or
"Section") of this Second Amendment.

                  4.3 SUCCESSORS AND ASSIGNS. This Second Amendment shall be
binding upon and inure to the benefit of the parties hereto and their respective
successors and assigns.

                  4.4 COUNTERPARTS. This Second Amendment may be executed by one
or more of the parties hereto on any number of separate counterparts, each of
which shall be deemed an original and all of which, taken together, shall be
deemed to constitute one and the same instrument. Delivery of an executed
counterpart of this Second Amendment by facsimile transmission or electronic
mail shall be as effective as delivery of an originally executed counterpart
hereof.

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                  4.5 GOVERNING LAW. THIS SECOND AMENDMENT SHALL BE GOVERNED BY
AND CONSTRUED IN ACCORDANCE WITH THE LAW OF THE STATE OF NEW YORK.

                  4.6 NO FURTHER AMENDMENTS. The amendments set forth herein
shall be limited precisely as provided for herein to the provisions expressly
amended herein and shall not be deemed to be a waiver of, amendment of, consent
to or modification of any other term or provision of any other document or of
any transaction or further action on the part of Borrowers or the Guarantors
which would require the consent of the Lenders under the Loan Agreement.

                  4.7 CONSENT OF GUARANTORS. Without limiting any waivers or any
other provisions contained in its Guaranty, each Guarantor hereby consents to
the terms of this Second Amendment and hereby confirms and agrees that its
Guaranty is and shall continue to be in full force and effect and is hereby
ratified and confirmed in all respects.

                 [Remainder of page intentionally left blank.]

                                      -4-
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                  IN WITNESS WHEREOF, the parties hereto have caused this Second
Amendment to be executed and delivered as of the date first above written.

                                         AMTROL INC.,
                                         a Rhode Island corporation

                                         By:     /s/ Larry Guillemette
                                               ---------------------------
                                         Name:
                                         Title:

                                         WATER SOFT, INC.,
                                         a Rhode Island corporation

                                         By:   /s/ Larry Guillemette
                                               ---------------------------
                                         Name:
                                         Title:

                                         AMTROL CANADA LTD.,
                                         an Ontario corporation

                                         By:   /s/ Larry Guillemette
                                               ---------------------------
                                         Name:
                                         Title:
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                                         WELLS FARGO FOOTHILL, INC. (formerly
                                         known as Foothill Capital Corporation),
                                         a California corporation, as Agent and
                                         as a Lender

                                         By:        /s/  Arthur Hartford
                                                    ---------------------------
                                         Name:       Arthur Hartford
                                         Title:      Senior Vice President

                                         ABLECO FINANCE LLC,
                                         a Delaware limited liability company,
                                         on behalf of itself and its Affiliate
                                         assigns, as Lender and Term B Lender

                                         By:        /s/  Eric Miller
                                                    ---------------------------
                                         Name:      Eric Miller
                                         Title:     Senior Vice President
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THE FOREGOING SECOND AMENDMENT IS AGREED TO,
CONSENTED TO AND ACCEPTED BY THE GUARANTORS:

AMTROL HOLDINGS, INC.,
a Delaware corporation, as Guarantor

By:         /s/  Larry Guillemette
            ----------------------
Name:
Title:

AMTROL INTERNATIONAL INVESTMENTS, INC.,
a Rhode Island corporation, as Guarantor

By:         /s/  Larry Guillemette
            ----------------------
Name:
Title:
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                           ACKNOWLEDGMENT AND CONSENT

                  Without limiting any waivers of other provisions contained in
the Intercreditor Agreement, each of the Other Senior Lenders hereby
acknowledges and consents to the terms of this Second Amendment.

                                    CYPRESS MERCHANT BANKING PARTNERS L.P.

                                    By: CYPRESS ASSOCIATES, L.P.,
                                          its General Partner

                                          By: CYPRESS GROUP, L.L.C.,
                                               its General Partner

                                               By:    /s/  David P. Spalding
                                                      ----------------------
                                               Name:
                                               Title:

                                    CYPRESS OFFSHORE PARTNERS L.P.

                                    By: CYPRESS ASSOCIATES, L.P.,
                                          its General Partner

                                          By: CYPRESS GROUP, L.L.C.,
                                                its General Partner

                                                By:     /s/  David P. Spalding
                                                        ----------------------
                                                Name:
                                                Title:<PAGE>

                                                                   EXHIBIT 10.18

                           CHANGE OF CONTROL AGREEMENT

      CHANGE OF CONTROL AGREEMENT ("Agreement") by and between AMTROL INC., a
Rhode Island corporation ("AMTROL"), AMTROL Holdings Inc. ("Holdings", and
together with AMTROL, the "Company"), and Albert D. Indelicato (the
"Executive"), dated as of the 29th day of October, 2004.

      The Boards of Directors of AMTROL and Holdings (the "Boards") have
determined that it is in the best interests of the Company and its shareholders
to assure that the Company will have the continued service and dedication of the
Executive. In addition, the Boards believe it is imperative to diminish the
inevitable distraction of the Executive by virtue of the personal uncertainties
and risks created by a pending or threatened Change of Control and to encourage
the Executive's full attention and dedication to the Company currently and in
the event of any threatened or pending Change of Control, and to provide the
Executive with arrangements currently and upon a Change of Control which ensure
that the compensation expectations of the Executive will be satisfied and which
are competitive with those of other corporations. The Board of Directors also
believes that the autonomy, authority and responsibility possessed by the
Executive is a significant attribute of his employment and a Change of Control
would be likely to significantly diminish the attractiveness to Executive of
employment by the Company, and has determined to allow Executive to chose
whether to continue in the employ of the Company upon a Change of Control.
Therefore, in order to accomplish these objectives, the Boards have caused the
Company to enter into this Agreement.

      NOW, THEREFORE, IT IS HEREBY AGREED AS FOLLOWS:

      1. In the event either (i) Executive's employment with the Company is
terminated without Cause (as defined below) or (ii) in the event of a Change of
Control (as defined below), AMTROL will pay Executive either (a) in a single
aggregate lump sum amount or (b) in thirty six (36) equal monthly installments
an aggregate amount, equal to the Executive's then current annual base salary
for a period of thirty six (36) months, subject to withholdings required by law
and other applicable deductions (the aggregate amount hereinafter referred to as
the "Benefit Amount"). Additionally, Executive will be entitled to accelerated
payment of any amounts earned pursuant to the Management Incentive Compensation
Plan as described in the summary to such plan as of the date of termination of
employment or Change of Control. Executive will be entitled to the above
payments regardless of whether or not his employment with the Company continues
subsequent to a Change of Control and such payment will be in addition to any
other compensation and benefits to which the Executive is entitled as a result
of his continued employment. It is understood and agreed that provided the above
conditions are met, the Executive shall only be entitled to collect the Benefit
Amount once pursuant to this Agreement.

      For the purpose of this Agreement, a "Change of Control" shall mean:

            (i) There shall have occurred a change in control which the Company
      would be required to report in response to Item 1 of Form 8-K promulgated
      under the Securities Exchange Act of 1934, as amended (the "Exchange
      Act"), or if such

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      regulation is no longer in effect, any regulations promulgated by the
      Securities and Exchange Commission pursuant to the Exchange Act which are
      intended to serve similar purposes;

            (ii) The acquisition, other than from the Company, by any
      individual, entity or group (within the meaning of Section 13(d)(3) or
      14(d)(2) of the Exchange Act) of beneficial ownership (within the meaning
      of Rule 13d-3 promulgated under the Exchange Act) of 50% or more of either
      the then outstanding shares of common stock of the Company (the
      "Outstanding Company Common Stock") or the combined voting power of the
      then outstanding voting securities of the Company entitled to vote
      generally in the election of directors (the "Company Voting Securities"),
      provided, however, that any acquisition by the Company or its
      subsidiaries, or any employee benefit plan (or related trust) of the
      Company or its subsidiaries, or any corporation with respect to which,
      following such acquisition, more than 50% of, respectively, the then
      outstanding shares of common stock of such corporation and the combined
      voting power of the then outstanding voting securities of such corporation
      entitled to vote generally in the election of directors is then
      beneficially owned, directly or indirectly, by all or substantially all of
      the individuals and entities who were the beneficial owners, respectively,
      of the Outstanding Company Common Stock and Company Voting Securities
      immediately prior to such acquisition in substantially the same proportion
      as their ownership, immediately prior to such acquisition, of the
      Outstanding Company Common Stock and Company Voting Securities, as the
      case may be, shall not constitute a Change of Control; or

            (iii) Individuals who, as of January 1, 2004, constitute the Boards
      (the "Incumbent Boards") cease for any reason to constitute at least a
      majority of the Boards, provided that any individual becoming a director
      subsequent to January 1, 2004 whose election, or nomination for election
      by the Company's shareholders, was approved by a vote of at least a
      majority of the directors then comprising the Incumbent Boards shall be
      considered as though such individual were a member of the Incumbent
      Boards; or

            (iv) Approval by the stockholders of the Company of (x) a complete
      liquidation or dissolution of the Company, (y) the sale or other
      disposition of all or a material portion of the assets of the Company, or
      (z) a reorganization, merger or consolidation, in each case, with respect
      to which all or substantially all of the individuals and entities who were
      the respective beneficial owners of the Outstanding Company Common Stock
      and Company Voting Securities immediately prior to such reorganization,
      merger or consolidation do not, following such reorganization, merger or
      consolidation, beneficially own, directly or indirectly, more than 50% of,
      respectively, the then outstanding shares of common stock and the combined
      voting power of the then outstanding voting securities entitled to vote
      generally in the election of directors, as the case may be, of the
      corporation resulting from such reorganization, merger or consolidation;
      provided, however, "reorganization" for the purposes of this subsection
      1(iv)(z)

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      shall not include any voluntary or involuntary bankruptcy or insolvency
      filing by or against the Company.

      For purposes of this Agreement, "Cause" means:

            (i) an act or acts of personal dishonesty taken by the Executive and
      intended to result in substantial personal enrichment of the Executive at
      the expense of the Company,

            (ii) repeated violations by the Executive of the Executive's
      obligations of employment which are demonstrably willful and deliberate on
      the Executive's part and which are not remedied in a reasonable period of
      time after receipt of written notice from the Company, or

            (iii) the conviction of the Executive of a felony or a crime
      involving moral turpitude.

      2. In the event the Executive's employment is terminated at any time for
any reason, the Company agrees to provide Director's and Officer's liability
insurance for Executive for an appropriate tail period and to indemnify
Executive for any claims made against Executive as a result of his employment
with the Company.

      3. Nothing in this Change of Control Agreement alters the "at-will" nature
of Executive's Employment with the Company.

      4. The salary continuation payments discussed above are in lieu of any
other severance or salary continuation payments to which Executive may have been
entitled pursuant to Executive's offer letter dated June 24, 1998 and/or Company
policy or practice.

      5. Executive is not entitled to any salary continuation payments pursuant
to this Severance Agreement in the event Executive resigns his employment with
the Company prior to a Change of Control.

      IN WITNESS WHEREOF, the Executive has hereunto set his hand and, pursuant
to the authorization from their Boards of Directors, AMTROL and Holdings have
caused these presents to be executed in their name on their behalf, all as of
the day and year first above written.

AMTROL INC.                                          AMTROL Holdings Inc.

By: /s/ Larry T. Guillemette                        By: /s/ David P. Spalding
    ------------------------                            ---------------------
        Larry T. Guillemette                                David P. Spalding

EXECUTIVE

    /s/ Albert D. Indelicato
    ------------------------
        Albert D. Indelicato

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