Document:

<PAGE>

                                                                     Exhibit 4.7

                           INDEMNIFICATION AGREEMENT

                                     among

                             PEOPLEFIRST.COM INC.,

                           PEOPLEFIRST FINANCE, LLC,

                              PF FUNDING II, LLC

                                      and

              PRUDENTIAL SECURITIES SECURED FINANCING CORPORATION

                           Dated as of June 30, 2000

                  PeopleFirst.com Vehicle Owner Trust 2000-1

               $31,000,000 6.713% Asset Backed Notes, Class A-1

               $109,000,000 7.275% Asset Backed Notes, Class A-2

               $34,000,000 7.365% Asset Backed Notes, Class A-3

               $70,520,000 7.405% Asset Backed Notes, Class A-4
<PAGE>

                               TABLE OF CONTENTS

<TABLE>
<CAPTION>
                                                                 PAGE
<S>                                                              <C>
Section 1.  Definitions........................................... 2

Section 2.  Indemnification....................................... 3

Section 3.  Indemnification Procedures............................ 4

Section 4.  Contribution.......................................... 4

Section 5.  Miscellaneous......................................... 5
</TABLE>

                                       1
<PAGE>

                           INDEMNIFICATION AGREEMENT

     INDEMNIFICATION AGREEMENT dated as of June 30, 2000 among PEOPLEFIRST.COM
INC. ("Parent"), PEOPLEFIRST FINANCE, LLC (the "Company"), PF FUNDING II, LLC
       ------                                   -------
(the "Transferor") and PRUDENTIAL SECURITIES SECURED FINANCING CORPORATION (the
      ----------
"Depositor").
 ---------

     Section 1.  Definitions. (a)  For purposes of this Agreement, the following
                 -----------
terms shall have the meanings provided below:

          "Agreement" means this Indemnification Agreement, as the same may be
           ---------
amended, supplemented or otherwise modified from time to time in accordance with
the terms hereof.

          "Basic Documents"  has the meaning assigned to such term in the Sale
           ---------------
and Servicing Agreement.

          "Depositor Information"  has the meaning provided in Section 2 hereof.
           ---------------------

          "Person" means any individual, partnership, joint venture,
           ------
corporation, trust, unincorporated organization or other organization or entity
(whether governmental or private).

          "Prospectus" means collectively the Prospectus dated June 21, 2000,
           ----------
together with the Prospectus Supplement and the Preliminary Prospectus.

          "Prospectus Supplement" means the Prospectus Supplement dated June
           ---------------------
21, 2000 relating to the Securities.

          "Sale and Servicing Agreement" means the Sale and Servicing Agreement
           ----------------------------
dated as of June 1, 2000 among the Trust, PF Funding II, LLC, PeopleFirst
Finance, LLC, the Depositor, and Norwest Bank Minnesota, National Association,
as Backup Servicer, and Indenture Trustee.

          "Securities" means the Trust's $31,000,000 6.713% Asset Backed Notes,
           ----------
Class A-1, $109,000,000 7.275% Asset Backed Notes, Class A-2 and $34,000,000
7.365% Asset Backed Notes, Class A-3, $71,000,000 7.405% Asset Backed Notes,
Class A-4, described in the Prospectus and issued pursuant to the Indenture.

          "Underwriting Agreement" means the Underwriting Agreement with respect
           ----------------------
to the Securities and the Standard Provisions to the Underwriting Agreement,
each dated as of June 21, 2000, among the PF Entities, the Depositor and the
Prudential Securities Incorporated, as representative of the Underwriters.

                                       2
<PAGE>

          (b) Capitalized terms used herein and not otherwise defined herein
have the meanings assigned to them in the Underwriting Agreement.

     Section 2.  Indemnification.
                 ---------------

     (a)  The Depositor agrees to indemnify and hold harmless each PF Entity and
each of its directors and each Person who controls any PF Entity within the
meaning of the 1933 Act or the 1934 Act, against any losses, claims, damages or
liabilities, joint or several, to which such PF Entity or such director or
controlling Person may become subject under the 1933 Act, the 1934 Act or
otherwise, insofar as such losses, claims, damages or liabilities (or actions in
respect thereof) arise out of or are based upon any untrue statement or alleged
untrue statement of any material fact contained in the Prospectus Supplement, or
any amendment or supplement thereto, or arise out of or are based upon the
omission or alleged omission to state therein a material fact required to be
stated therein or necessary to make the statements therein not misleading, in
each case to the extent, but only to the extent, that such untrue statements or
alleged untrue statements or omission or alleged omission was made in reliance
upon and in conformity with written information furnished to the PF Entities by
the Depositor specifically for use therein, and the Depositor will reimburse
each PF Entity and each such controlling Person for any legal or other expenses
reasonably incurred by such PF Entity or such director or controlling Person in
connection with investigating or defending any such loss, claim, damage,
liability or action.  This indemnity agreement will be in addition to any
liability which the Depositor may otherwise have. Each PF Entity acknowledges
that the information under the headings "Summary of Terms-Depositor" and "The
Depositor" in the Prospectus Supplement (the "Depositor Information") constitute
                                              ---------------------
the only information furnished to the PF Entities by or on behalf of the
Depositor for use in the Registration Statement or the Prospectus.

     (b)  Each of the PF Entities agrees (severally and not jointly) (A) to
indemnify and hold harmless the Depositor, and each of its directors and each
Person who controls the Depositor or any such person, within the meaning of the
1933 Act or the 1934 Act, against any losses, claims, damages or liabilities,
joint and several, to which the Depositor or such Person may become subject,
under the 1933 Act, the 1934 Act or otherwise, insofar as such losses, claims,
damages or liabilities (or actions in respect  thereof) arise out of or are
based upon any untrue statement or alleged untrue statement of any material fact
contained in any ABS Term Sheets or Computational Materials furnished to
prospective investors or any Current Report or any amendment or supplement
thereof, the Prospectus, any amendment or supplement to the Prospectus, or the
omission or the alleged omission to state therein a material fact required to be
stated therein or necessary to make the statements therein, in light of the
circumstances under which they were made, not misleading, but only to the extent
that such untrue statement or alleged untrue statement or omission or alleged
omission does not relate to the Underwriter Information or the Depositor
Information; this indemnity agreement will be in addition to any liability which
the PF Entities may otherwise have; and (B) to indemnify and to hold the
Depositor harmless against any and all claims, losses, penalties, fines,
forfeitures, legal fees and related costs, judgments, and any other costs, fees
and expenses that the Depositor may sustain

                                       3
<PAGE>

in any way related to the failure of any of the PF Entities to perform its
duties in compliance with the terms of the Basic Documents.

     Section 3.  Indemnification Procedures.  Promptly after receipt by an
                 --------------------------
indemnified party under Section 2 of notice of the commencement of any action,
such indemnified party will, if a claim in respect thereof is to be made against
the indemnifying party under Section 2, notify the indemnifying party in writing
of the commencement thereof, but the omission to so notify the indemnifying
party will not relieve the  indemnifying party from any liability which the
indemnifying party may have to any indemnified party hereunder except to the
extent such indemnifying party has been prejudiced thereby. In case any such
action is brought against any indemnified party, and it notifies the
indemnifying party of the commencement thereof, the indemnifying party will be
entitled to participate therein and, to the extent that it may elect by written
notice delivered to the indemnified party promptly after receiving the aforesaid
notice from such indemnified party, to assume the defense thereof with counsel
reasonably satisfactory to such indemnified party. After notice from the
indemnifying party to such indemnified party of its election to assume the
defense thereof, the indemnifying party will not be liable to such indemnified
party under Section 2 for any legal or other expenses subsequently incurred by
such indemnified party in connection with the defense thereof other than
reasonable costs of investigation; provided, however, if the defendants in any
such action include both the indemnified party and the indemnifying party and
the indemnified party shall have reasonably concluded that there may be legal
defenses available to it that are different from or additional to those
available to the indemnifying party, the indemnified party or parties shall have
the right to select separate counsel to assert such legal defenses and to
otherwise participate in the defense of such action on behalf of such
indemnified party or parties. The indemnifying party shall not be liable for the
expenses of more than one separate counsel.

     Section 4.  Contribution.  In order to provide for just and equitable
                 ------------
contribution in circumstances in which the indemnity agreement provided for in
Section 2 is for any reason held to be unavailable to or insufficient to hold
harmless an indemnified party under Section 2 above in respect of any losses,
claims, damages or liabilities (or actions in respect thereof) referred to
therein, then the indemnifying party shall contribute to the amount paid or
payable by the indemnified party as a result of such losses, claims, damages or
liabilities (or actions in respect thereof); provided, however, that no person
                                             --------  -------
guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of
the 1933 Act) shall be entitled to contribution from any person who was not
guilty of such fraudulent misrepresentation.  In determining the amount of
contribution to which the respective parties are entitled, there shall be
considered the relative benefits received by the PF Entities on the one hand,
and the Depositor on the other, from the offering of the Securities (taking into
account the portion of the proceeds of the offering realized by each), the PF
Entities' and the Depositor's relative knowledge and access to information
concerning the matter with respect to which the claim was asserted, the
opportunity to correct and prevent any statement or omission, and any other
equitable considerations appropriate in the circumstances. The PF Entities and
the Depositor agree that it would not be equitable if the amount of such
contribution were determined by pro rata or per capita allocation.  For purposes
of this Section 4, each officer, each director and each person who controls the
Depositor within the meaning of the

                                       4
<PAGE>

1933 Act or 1934 Act shall have the same rights to contribution as the
Depositor, and each officer, each director, and each person who controls any PF
Entity within the meaning of the 1933 Act or the 1934 Act, shall have the same
rights to contribution as such PF Entity.

     Section 5.  Miscellaneous.
                 -------------

     (a)  Notices.  All notices and other communications provided for under this
          -------
Agreement shall be delivered to the address set forth below or to such other
address as shall be designated by the recipient in a written notice to the other
party or parties hereto:

If to the PF Entities:   People First Finance LLC
                         401 West A Street
                         Suite 1000
                         San Diego, California 92101
                         Attention: W. Randolph Ellspermann
                         Facsimile No: (619) 544-0815
                         Confirm No: (619) 338-3706

If to the Depositor:     Prudential Securities Secured Financing
                         Corporation
                         One New York Plaza
                         New York, New York 10292
                         Attention: Group Head Asset-Backed Group
                         Facsimile No: 212-778-7401

     (b)  Governing Law.  THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN
          -------------
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

     (c)  Assignments.  This Agreement may not be assigned by any party without
          -----------
the express written consent of each other party.  Any assignment made in
violation of this Agreement shall be null and void.

     (d)  Amendments.  Amendments of this Agreement shall be in writing signed
          ----------
by each party hereto.

     (e)  Survival, Etc.  The indemnity and contribution agreements contained in
          --------------
this Agreement shall remain operative and in full force and effect, regardless
of (i) any investigation made by or on behalf of any Indemnifying Party, (ii)
the issuance of the Securities or (iii) any termination of this Agreement.  The
indemnification provided in this Agreement will be in addition to any liability
which the parties may otherwise have and shall in no way limit any obligation of
the parties to the Underwriting Agreement.

                                       5
<PAGE>

     (f)  Counterparts.  This Agreement may be executed in counterparts by the
          ------------
parties hereto, and all such counterparts shall constitute one and the same
instrument.

                                       6
<PAGE>

     IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
duly executed and delivered as of the date first above written.

                              PEOPLEFIRST.COM INC.

                              By:   /s/ Justin Tisler
                                 _______________________________
                                 Name:  Justin Tisler
                                 Title:

                              PEOPLEFIRST FINANCE, LLC

                              By:   /s/ Justin Tisler
                                 _______________________________
                                 Name:  Justin Tisler
                                 Title: Attorney-in-Fact

                              PF FUNDING II, LLC

                              By:   /s/ Justin Tisler
                                 _______________________________
                                 Name:  Justin Tisler
                                 Title: Assistant Treasurer

                              PRUDENTIAL SECURITIES SECURED
                              FINANCING CORPORATION

                              By:   /s/ P. Carter Rise
                                 _______________________________
                                 Name:  P. Carter Rise
                                 Title: Vice President

                                       7<PAGE>   1
                                                                    EXHIBIT 10.1

                       FIFTH AMENDMENT TO CREDIT AGREEMENT

         THIS FIFTH AMENDMENT TO CREDIT AGREEMENT (this "Fifth Amendment"),
dated as of June 30, 2000 (but effective as provided herein), is entered into
among DOSKOCIL MANUFACTURING COMPANY, a Texas corporation (the "Borrower"), the
lenders listed on the signature pages hereof (collectively, the "Lenders"), and
BANK OF AMERICA, N.A. (formerly known as Bank of America National Trust and
Savings Association, successor by merger to Bank of America, N.A., formerly
known as NationsBank, N.A., successor by merger to NationsBank of Texas, N.A.),
as the Administrative Agent (in said capacity, the "Administrative Agent").

         The Borrower, the Lenders and the Administrative Agent are parties to
that certain Credit Agreement, dated as of September 19, 1997, as amended by
that certain First Amendment to Credit Agreement, dated as of February 10, 1999,
that certain Second Amendment to Credit Agreement, dated as of May 14, 1999, and
that certain Third Amendment to Credit Agreement, dated as of August 12, 1999,
and that certain Fourth Amendment to Credit Agreement, dated as of October 12,
1999 (the "Credit Agreement"; the terms defined in the Credit Agreement and not
otherwise defined herein shall be used herein as defined in the Credit
Agreement).

         The Borrower, the Lenders and the Administrative Agent desire to amend
the Credit Agreement.

         NOW, THEREFORE, in consideration of the covenants, conditions and
agreements hereafter set forth, and for other good and valuable consideration,
the receipt and adequacy of which are all hereby acknowledged, the Borrower, the
Lenders and the Administrative Agent covenant and agree as follows:

         1. AMENDMENTS TO CREDIT AGREEMENT.

         (1) The definition of "Applicable Base Rate Margin" set forth in
Section 1.1 of the Credit Agreement is hereby amended to read as follows:

                  "Applicable Base Rate Margin" means the following per annum
         percentages, applicable in the following situations:

<TABLE>
<CAPTION>
                                                                   Facility A Term         Facility B
                                                                  Loan Advances and         Term Loan
                          Applicability                           Revolving Advances        Advances
                          -------------                           ------------------       ----------
<S>                                                               <C>                       <C>
         (a)    The Leverage Ratio is greater than or                  2.000%                2.500%
                    equal to 4.50 to 1

         (b)    The Leverage Ratio is less than 4.50 to 1              1.500%                2.500%
                    but greater than or equal to 3.50
                    to 1

         (c)    The Leverage Ratio is less than 3.50 to 1              0.750%                2.500%
</TABLE>

<PAGE>   2

         The Applicable Base Rate Margin payable by the Borrower on the Base
         Rate Advances outstanding hereunder shall be subject to reduction or
         increase, as applicable and as set forth in the table above, on a
         quarterly basis according to the performance of the Borrower as tested
         by using the Leverage Ratio calculated as of the end of each fiscal
         quarter; provided, that each adjustment in the Base Rate Basis as a
         result of a change in the Applicable Base Rate Margin shall be
         effective with respect to Base Rate Advances (i) made following receipt
         by the Administrative Agent of the financial statements required to be
         delivered pursuant to Section 6.2 or 6.3 hereof, as applicable, for
         each such fiscal quarter, and the corresponding Compliance Certificate
         required pursuant to Section 6.4 hereof, on the date of making such
         Base Rate Advance and (ii) outstanding on the date of receipt of such
         financial statements and Compliance Certificate referred to in clause
         (i) immediately preceding, on the date which is two Business Days
         following the date of receipt of such financial statements and
         Compliance Certificate. If such financial statements and Compliance
         Certificate are not received by the Administrative Agent by the date
         required, the Applicable Base Rate Margin shall be determined as if the
         Leverage Ratio is greater than 4.50 to 1 until such time as such
         financial statements and Compliance Certificate are received. For the
         period from and including January 1, 2000 to but not including the date
         in which the Applicable Base Rate Margin would be adjusted as provided
         above, the Applicable Base Rate Margin shall be determined as if the
         Leverage Ratio is greater than 4.50 to 1.

         (2) The definition of "Applicable LIBOR Rate Margin" set forth in
Section 1.1 of the Credit Agreement is hereby amended to read as follows:

                  "Applicable LIBOR Rate Margin"means the following per annum
         percentages, applicable in the following situations:

<TABLE>
<CAPTION>
                                                                   Facility A Term         Facility B
                                                                  Loan Advances and         Term Loan
                          Applicability                           Revolving Advances        Advances
                          -------------                           ------------------       ----------
<S>                                                               <C>                       <C>
               (a)       The Leverage Ratio is greater than or          3.500%                4.000%
                           equal to 4.50 to 1

               (b)       The Leverage Ratio is less than 4.50           3.000%                4.000%
                           to 1 but greater than or equal to
                           3.50 to 1

               (c)       The Leverage Ratio is less than 3.50           2.250%                4.000%
                           to 1
</TABLE>

                                     - 2 -
<PAGE>   3

         The Applicable LIBOR Rate Margin payable by the Borrower on the LIBOR
         Advances outstanding hereunder shall be subject to reduction or
         increase, as applicable and as set forth in the table above, on a
         quarterly basis according to the performance of the Borrower as tested
         by using the Leverage Ratio calculated as of the end of each fiscal
         quarter; provided, that each adjustment in the LIBOR Basis as a result
         of a change in the Applicable LIBOR Rate Margin shall be effective with
         respect to LIBOR Advances (i) made following receipt by the
         Administrative Agent of the financial statements required to be
         delivered pursuant to Section 6.2 or 6.3 hereof, as applicable, for
         each such fiscal quarter, and the corresponding Compliance Certificate
         required pursuant to Section 6.4 hereof, on the date of making such
         LIBOR Advance and (ii) outstanding on the date of receipt of such
         financial statements and Compliance Certificate referred to in clause
         (i) immediately preceding, on the date which is two Business Days
         following the date of receipt of such financial statements and
         Compliance Certificate. If such financial statements and Compliance
         Certificate are not received by the Administrative Agent by the date
         required, the Applicable LIBOR Rate Margin shall be determined as if
         the Leverage Ratio is greater than 4.50 to 1 until such time as such
         financial statements and Compliance Certificate are received. For the
         period from and including January 1, 2000 to but not including the date
         in which the Applicable LIBOR Rate Margin would be adjusted as provided
         above, the Applicable LIBOR Rate Margin shall be determined as if the
         Leverage Ratio is greater than 4.50 to 1.

         (3) The definition of "Borrowing Base" set forth in Section 1.1 of the
Credit Agreement is hereby amended to read as follows:

                  "Borrowing Base" means (a) during the period from and
         including May 31, 2000 through and including September 30, 2000, an
         amount equal to the sum of (i)(A) 100% of Insured Eligible Accounts
         (less coinsurance and deductible amounts with respect to such Insured
         Eligible Accounts), plus (B) 80% of Uninsured Eligible Accounts plus
         (ii)(A) 100% of Spectrum Resin Eligible Inventory, plus (B) 100% of
         Borrower Resin and Colorant Eligible Inventory, plus (C) 50% of Other
         Eligible Inventory and (b) during any period other than the period from
         and including May 31, 2000 through and including September 30, 2000, an
         amount equal to the sum of (i) 80% of Eligible Accounts plus (ii) 50%
         of Eligible Inventory.

         (4) The definition of "EBITDA" set forth in Section 1.1 of the Credit
Agreement is hereby amended to read as follows:

                  "EBITDA" means, for any period, determined in accordance with
         GAAP on a consolidated basis for the Borrower and its Subsidiaries, the
         sum of (a) EBIT plus (b) depreciation, amortization and other non-cash
         charges (to the extent included in determining EBIT), plus (c)
         management fees in favor of Westar Capital L.L.C. and

                                     - 3 -
<PAGE>   4
         bonuses accrued but not paid during such period, minus (d) management
         fees in favor of Westar Capital L.L.C. and bonuses paid but not accrued
         during such period. Notwithstanding anything in this definition to the
         contrary, for purposes of any calculations made pursuant to Article 7
         hereof, EBITDA shall also include capital contributions made during the
         applicable period by the Specified Investors or other shareholders of
         the Borrower.

         (5) The definition of "Fixed Charges" set forth in Section 1.1 of the
Credit Agreement is hereby amended to read as follows:

                  "Fixed Charges" means, for any date of calculation, calculated
         for the Borrower and its Subsidiaries on a consolidated basis, the sum
         of, without duplication, (a) scheduled principal payments in respect of
         Indebtedness (after giving effect to the reduction of scheduled
         principal payments as a result of the prepayments of Loans pursuant to
         Section 3(e) of the Fourth Amendment or Section 8.3 hereof), plus (b)
         cash interest expense paid by the Borrower or its Subsidiaries
         (including interest expense pursuant to Capitalized Lease Obligations),
         but not including any amortized closing fees or closing costs.

         (6) The definition of "Fixed Charge Coverage Ratio" set forth in
Section 1.1 of the Credit Agreement is hereby amended to read as follows:

                  "Fixed Charge Coverage Ratio" means the ratio of (a) EBITDA
         minus Maintenance Capital Expenditures to (b) Fixed Charges, calculated
         for (i) June 30, 2000, from and including October 1, 1999 to and
         including June 30, 2000, and (ii) each fiscal quarter thereafter, for
         the four consecutive fiscal quarters immediately preceding the date of
         such calculation.

         (7) Section 1.1 of the Credit Agreement is hereby amended by adding the
following defined terms thereto in proper alphabetical order:

                  "Borrower Resin and Colorant Eligible Inventory" means all
         Eligible Inventory of the Borrower and its Subsidiaries which consists
         solely of resin Eligible Inventory (excluding any Spectrum Resin
         Eligible Inventory) and colorant Eligible Inventory.

                  "Insured Eligible Accounts" means all Accounts of the Borrower
         and its Subsidiaries (a) which have satisfied all of the requirements
         set forth in clauses (a) through (j) of the definition of Eligible
         Accounts but not necessarily the requirements set forth in clause (g)
         thereof and (ii) the payment of which are insured in full pursuant to
         terms and by insurers acceptable to the Administrative Agent.

                  "Inventory" has the meaning assigned to such term in the UCC.

                                     - 4 -
<PAGE>   5

                  "Other Eligible Inventory" means all Eligible Inventory of the
         Borrower and its Subsidiaries other than Spectrum Resin Eligible
         Inventory and Borrower Resin and Colorant Eligible Inventory.

                  "Maintenance Capital Expenditures" means all Capital
         Expenditures identified by the Borrower to be for purposes of
         maintenance on facilities and equipment.

                  "Spectrum Resin Eligible Inventory" means all Eligible
         Inventory which consists wholly of resin inventory of the Spectrum
         division of the Borrower.

                  "Support Agreement" means that certain agreement, executed by
         Westar Capital II LLC and Westar Capital, L.P., in the form of Exhibit
         M hereto.

                  "Uninsured Eligible Accounts" means all Eligible Accounts of
         the Borrower and its Subsidiaries which are not Insured Eligible
         Accounts.

         (8) Section 7.12 of the Credit Agreement is hereby amended in its
entirety to read as follows:

                  Section 7.12 Minimum Fixed Charge Coverage Ratio. The Borrower
         shall not permit the Fixed Charge Coverage Ratio to be less than (a)
         1.0 to 1 for any fiscal quarter ending during the period from the
         Agreement Date through and including June 30, 2001 and (b) 1.25 to 1
         for any fiscal quarter thereafter.

         (9) Section 7.19 of the Credit Agreement is hereby amended in its
entirety to read as follows:

                  Section 7.19 Minimum EBITDA. The Borrower shall not permit
         EBITDA to be less than $22,754,000 for the three consecutive fiscal
         quarters ending June 30, 2000.

         (10) Section 8.1(m) of the Credit Agreement is hereby amended by
deleting the word "or" at the end of said section.

         (11) Section 8.1(n) of the Credit Agreement is hereby amended by
deleting the period at the end of said section and inserting "; or" in lieu
thereof.

         (12) Section 8.1 of the Credit Agreement is hereby amended by adding a
new Section 8.1(o) at the end of said section to read as follows:

                  (o) The Specified Investors shall fail to make payments to the
         Borrower in the manner and on the dates specified in the Support
         Agreement.

         (13) Section 8.3 of the Credit Agreement is hereby amended to read as
follows:

                                     - 5 -

<PAGE>   6

                  Section 8.3 Cure. Upon the earlier of (a) the receipt of
         knowledge by any Responsible Officer of the Borrower of a default by
         the Borrower or any Subsidiary of any covenant contained in Section
         7.11, 7.12, 7.13 or 7.21 hereof, or (b) 45 days after the end of any
         fiscal quarter other than the last fiscal quarter of any fiscal year
         (or 90 days after the end of the last fiscal quarter of any fiscal
         year) following any such default, the Borrower shall give notice to the
         Specified Investors of the occurrence of such default, and within two
         Business Days of receiving notice of such default, one or more of the
         Specified Investors may give the Administrative Agent irrevocable
         written notice of their intent to cure such default by the investment
         of additional capital in the Borrower (whether through the contribution
         of cash, the purchase of equity or otherwise) in an amount not less
         than the amount set forth in such notice. If one or more of the
         Specified Investors send such notice to the Administrative Agent, the
         Specified Investors shall have fifteen days from the receipt by the
         Administrative Agent to provide the Borrower with the amount of capital
         set forth in such notice, it being understood that such capital
         investment shall be deemed to increase the (and shall be considered as)
         (without duplication) EBIT, Pretax Net Income, EBITDA and EBITDAR of
         the Borrower as of the last day of the previous fiscal quarter by the
         amount thereof for all purposes of this Agreement and to the extent any
         such proceeds are applied to repay any Advances, such proceeds shall be
         deemed for all purposes to have reduced the Total Debt and the Senior
         Debt, as applicable, or other Indebtedness that constitutes Total Debt
         or Senior Debt, as the case may be, of the Borrower as of the last day
         of the previous fiscal quarter; provided, however, in no event shall
         the grace period provided by this Section 8.3 extend more than 45 days
         beyond the date of any fiscal quarter (or 90 days in the case of the
         last fiscal quarter of any fiscal year) in which compliance with any
         such covenant was not satisfied. All payments received by Borrower
         pursuant to the Support Agreement shall be deemed to be payments made
         pursuant to this Section 8.3.

         (14) Exhibit F to the Credit Agreement is hereby amended to be in the
form of Exhibit F to this Fifth Amendment.

         (15) Exhibit M is hereby added to the Credit Agreement and is in the
form of Exhibit M to this Fifth Amendment.

         2. REPRESENTATIONS AND WARRANTIES TRUE; NO EVENT OF DEFAULT. By its
execution and delivery hereof, the Borrower represents and warrants that, as of
the date hereof and after giving effect to the amendments contemplated by the
foregoing Section 1:

         (1) the representations and warranties contained in the Credit
Agreement are true and correct on and as of the date hereof as if made on and as
of such date; except as otherwise expressly provided in Section 4.2 of the
Credit Agreement;

                                     - 6 -
<PAGE>   7

         (2) no event has occurred and is continuing which constitutes a Default
or an Event of Default;

         (3) the Borrower has full power and authority to execute and deliver
this Fifth Amendment, and this Fifth Amendment and the Credit Agreement, as
amended hereby, constitute the legal, valid and binding obligations of the
Borrower, enforceable against the Borrower in accordance with their respective
terms, except as enforceability may be limited by applicable debtor relief laws
and by general principles of equity (regardless of whether enforcement is sought
in a proceeding in equity or at law) and except as rights to indemnity may be
limited by federal or state securities laws; and

         (4) no authorization, approval, consent, or other action by, notice to,
or filing with, any governmental authority or other Person (including the Board
of Directors of the Borrower), is required that has not been obtained for the
execution, delivery or performance by the Borrower of this Fifth Amendment.

         3. CONDITIONS OF EFFECTIVENESS. This Fifth Amendment shall be effective
as of June 30, 2000 (provided, however, the changes in the definition of (i) the
Applicable Base Rate Margin and the Applicable LIBOR Rate Margin shall be
effective as of June 1, 2000 and (ii) the Borrowing Base shall be effective as
of May 31, 2000), subject to the following:

         (1) the Administrative Agent shall have received a counterpart of this
Fifth Amendment executed by Lenders comprising the Determining Lenders;

         (2) the Administrative Agent shall have received counterparts of this
Fifth Amendment executed by the Borrower;

         (3) the representations and warranties set forth in Section 5 of this
Fifth Amendment shall be true and correct, except as otherwise expressly
provided in Section 4.2 of the Credit Agreement;

         (4) the Administrative Agent shall have received a Support Agreement,
executed by the Specified Investors, the Borrower, and the Lenders comprising
the Determining Lenders; and

         (5) the Administrative Agent and the Determining Lenders shall have
received in form and substance satisfactory to the Administrative Agent and the
Determining Lenders, such other documents and certificates as the Administrative
Agent shall require.

         4. REFERENCE TO THE CREDIT AGREEMENT.

         (1) Upon the effectiveness of this Fifth Amendment, each reference in
the Credit Agreement to "this Agreement", "hereunder", or words of like import
shall mean and be a reference to the Credit Agreement, as affected and amended
by this Fifth Amendment.

                                     - 7 -
<PAGE>   8
         (2) The Credit Agreement, as amended by this Fifth Amendment, and all
other Loan Documents shall remain in full force and effect and are hereby
ratified and confirmed.

         5. COSTS, EXPENSES AND TAXES. The Borrower agrees to pay on demand all
reasonable costs and expenses of the Administrative Agent in connection with the
preparation, reproduction, execution and delivery of this Fifth Amendment, and
the other instruments and documents to be delivered hereunder (including the
reasonable fees and out-of-pocket expenses of counsel for the Administrative
Agent with respect thereto and with respect to advising the Administrative Agent
as to its rights and responsibilities under the Credit Agreement, as amended by
this Fifth Amendment).

         6. EXECUTION IN COUNTERPARTS. This Fifth Amendment may be executed in
any number of counterparts and by different parties hereto in separate
counterparts, each of which when so executed and delivered shall be deemed to be
an original and all of which when taken together shall constitute but one and
the same instrument.

         7. GOVERNING LAW; BINDING EFFECT. This Fifth Amendment shall be
governed by and construed in accordance with the laws of the State of Texas and
shall be binding upon the Borrower and each Lender and their respective
successors and assigns.

         8. HEADINGS. Section headings in this Fifth Amendment are included
herein for convenience of reference only and shall not constitute a part of this
Fifth Amendment for any other purpose.

         9. ENTIRE AGREEMENT. THE CREDIT AGREEMENT, AS AMENDED BY THIS FIFTH
AMENDMENT, AND THE OTHER LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT BETWEEN
THE PARTIES AS TO THE SUBJECT MATTER THEREIN AND HEREIN AND MAY NOT BE
CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL
AGREEMENTS BETWEEN THE PARTIES.

================================================================================
                   REMAINDER OF PAGE LEFT INTENTIONALLY BLANK
================================================================================

                                     - 8 -
<PAGE>   9

         IN WITNESS WHEREOF, the parties hereto have executed this Fifth
Amendment as of the date first above written.

BORROWER:                              DOSKOCIL MANUFACTURING COMPANY

                                       By:
                                          ------------------------------------
                                          Name:
                                               -------------------------------
                                          Title:
                                                ------------------------------

                                     - 9 -
<PAGE>   10

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

                                       By:
                                          ------------------------------------
                                          Name:
                                               -------------------------------
                                          Title:
                                                ------------------------------

LENDERS:                               BANK OF  AMERICA,  N.A.,  as a  Lender,
                                       Swing  Line Bank and Issuing Bank

                                       By:
                                          ------------------------------------
                                          Name:
                                               -------------------------------
                                          Title:
                                                ------------------------------

                                     - 10 -

<PAGE>   11

                                       ARCHIMEDES FUNDING, LLC

                                       By:  ING Capital Advisors, LLC
                                            As Collateral Manager

                                       By:
                                          ------------------------------------
                                          Name:
                                               -------------------------------
                                          Title:
                                                ------------------------------

                                     - 11 -
<PAGE>   12

                                       COMERICA BANK-TEXAS

                                       By:
                                          ------------------------------------
                                          Name:
                                               -------------------------------
                                          Title:
                                                ------------------------------

                                     - 12 -
<PAGE>   13

                                       HSBC BANK USA
                                       (formerly known as Marine Midland Bank)

                                       By:
                                          ------------------------------------
                                          Name:
                                               -------------------------------
                                          Title:
                                                ------------------------------

                                     - 13 -
<PAGE>   14

                                       IMPERIAL BANK, A CALIFORNIA BANKING
                                       CORPORATION

                                       By:
                                          ------------------------------------
                                          Name:
                                               -------------------------------
                                          Title:
                                                ------------------------------

                                     - 14 -

<PAGE>   15

                                       BANK AUSTRIA CREDITANSTALT
                                       CORPORATE FINANCE, INC.

                                       By:
                                          ------------------------------------
                                          Name:
                                               -------------------------------
                                          Title:
                                                ------------------------------

                                       By:
                                          ------------------------------------
                                          Name:
                                               -------------------------------
                                          Title:
                                                ------------------------------

                                     - 15 -
<PAGE>   16

                                       FLEET CAPITAL CORPORATION

                                       By:
                                          ------------------------------------
                                          Name:
                                               -------------------------------
                                          Title:
                                                ------------------------------

                                     - 16 -
<PAGE>   17

                                       MORGAN STANLEY DEAN WITTER PRIME
                                       INCOME TRUST

                                       By:
                                          ------------------------------------
                                          Name:
                                               -------------------------------
                                          Title:
                                                ------------------------------

                                     - 17 -

<PAGE>   18

                                       KZH SOLEIL LLC

                                       By:
                                          ------------------------------------
                                          Name:
                                               -------------------------------
                                          Title:
                                                ------------------------------

                                     - 18 -
<PAGE>   19

                                       ML CLO XII PILGRIM AMERICA (CAYMAN) LTD.

                                       By:  Pilgrim Investments, Inc., as its
                                            Investment Manager

                                       By:
                                          ------------------------------------
                                          Name:
                                               -------------------------------
                                          Title:
                                                ------------------------------

                                     - 19 -
<PAGE>   20

                                       TRI-LINKS INVESTMENT TRUST

                                       By:  Wilmington Trust Company, not in
                                            its individual capacity but solely
                                            as Owner Trustee

                                       By:
                                          ------------------------------------
                                          Name:
                                               -------------------------------
                                          Title:
                                                ------------------------------

                                     - 20 -

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