Document:

AMENDMENT NO 8 DATED 03-JUN-2005

 EXHIBIT 4.6(k) 
  
 AMENDMENT NO. 8 
  
 AMENDMENT NO. 8 dated as of June 3, 2005, among SMITHFIELD FOODS, INC., a corporation duly organized and validly existing under the laws of the State of
Virginia (the “Borrower”); each of the Subsidiaries of the Borrower identified under the caption “SUBSIDIARY GUARANTORS” on the signature pages hereto (individually, a “Subsidiary Guarantor” and,
collectively, the “Subsidiary Guarantors” and, together with the Borrower, the “Obligors”); each of the lenders identified under the caption “LENDERS” on the signature pages hereto (the
“Lenders”); and JPMORGAN CHASE BANK, N.A., in its capacity as administrative agent for the lenders party to the below-referenced Credit Agreement (in such capacity, together with its successors in such capacity, the
“Administrative Agent”). 
  
 The Borrower, the
Subsidiary Guarantors, the lenders named therein and the Administrative Agent, are parties to a Multi-Year Credit Agreement dated as of December 6, 2001 (as heretofore modified and supplemented and in effect on the date hereof, the “Credit
Agreement”), providing, subject to the terms and conditions thereof, for extensions of credit to be made by said lenders to the Borrower in an aggregate principal or face amount not exceeding $900,000,000. 
  
 Section 1. Definitions. Except as otherwise defined in this Amendment
No. 8, terms defined in the Credit Agreement are used herein as defined therein. 
  
 Section 2. Amendments. Subject to the satisfaction of the conditions precedent specified in Section 4 below, the Credit Agreement shall be amended effective as of the date hereof as follows: 
  
 2.01. References in the Credit Agreement (including references to the Credit
Agreement as amended hereby) to “this Agreement” (and indirect references such as “hereunder”, “hereby”, “herein” and “hereof”) shall be deemed to be references to the Credit Agreement as amended
hereby. 
  
 2.02. Requests for Letters of Credit. Section
2.05(b) of the Credit Agreement shall be amended in its entirety to read as follows: 
  
 “(b) Requests for Letters of Credit. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of
an outstanding Letter of Credit), the Borrower shall hand deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the relevant Issuing Bank) to the relevant Issuing Bank and the Administrative
Agent (reasonably in advance of the requested date of issuance, amendment, renewal or extension) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, the date of issuance,
amendment, renewal or extension, the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section 2.05), the Currency (which shall be Dollars or an Approved Foreign Currency) and 
  

 Amendment No. 8 

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 amount of such Letter of Credit, the name and address of the beneficiary thereof, whether such Letter of
Credit is to be made under the Dollar Sub-Commitments or the Multicurrency Sub-Commitments and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the relevant Issuing Bank, the
Borrower also shall submit a letter of credit application on the such Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon
issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the Dollar LC Exposure shall not exceed
$175,000,000 and the total Revolving Dollar Credit Exposures shall not exceed the Total Dollar Sub-Commitment, (ii) the Multicurrency LC Exposure shall not exceed $10,000,000 or the Foreign Currency Equivalent thereof and the total Revolving
Multicurrency Credit Exposures shall not exceed the Total Multicurrency Sub-Commitment, (iii) the Secured Obligations Amount shall not exceed the Borrowing Base at any time before the Borrowing Base Release Date and (iv) the sum of the total
Revolving Credit Exposures shall not exceed the Total Commitment.” 
  
 Section 3. Representations and Warranties. The Borrower represents and warrants to the Lenders that the representations and warranties set forth in Article III of the Credit Agreement are true and complete on the date hereof as if
made on and as of the date hereof and as if each reference in said Article III to “this Agreement” included reference to this Amendment No. 8. 
  
 Section 4. Conditions Precedent. The amendments provided for in Section 2 shall become effective upon the execution and delivery of counterparts of
this Amendment No. 8 by the Obligors and Lenders constituting the Required Lenders. 
  
 Section 5. Miscellaneous. Except as provided herein, the Credit Agreement shall remain unchanged and in full force and effect. This Amendment No. 8 may be executed in any number of counterparts, all of which
taken together shall constitute one and the same amendatory instrument and any of the parties hereto may execute this Amendment No. 8 by signing any such counterpart. This Amendment No. 8 shall be governed by, and construed in accordance with, the
law of the State of New York. 
  
 IN WITNESS WHEREOF, this
Amendment No. 8 has been duly executed as of the date first written above. 
  

			
	SMITHFIELD FOODS, INC.
		
	By	 	 /s/ Daniel G. Stevens

	Name:	 	Daniel G. Stevens
	Title:	 	Vice President

  

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 SUBSIDIARY GUARANTORS 
  

							
	CODDLE ROASTED MEATS, INC.	 	BROWN’S OF CAROLINA LLC
	GWALTNEY OF SMITHFIELD, LTD.	 	CARROLL’S FOODS LLC
	HANCOCK’S OLD FASHIONED	 	CARROLL’S FOODS OF
	    COUNTRY HAM, INC.	 	    VIRGINIA LLC
	IOWA QUALITY MEATS, LTD.	 	CENTRAL PLAINS FARMS LLC CIRCLE FOUR LLC
	JOHN MORRELL & CO.	 	MURPHY FARMS LLC
	LYKES MEAT GROUP, INC.	 	QUARTER M FARMS LLC,
	MOYER PACKING COMPANY	 	MURPHY-BROWN HOLDINGS LLC,
	MURCO FOODS, INC.	 	each a Delaware limited liability company
	NORTH SIDE FOODS CORP.	 	 	 	 
	PACKERLAND PROCESSING COMPANY, INC.	 	 	 	 
	 SMITHFIELD PRODUCTION SYSTEMS,
     INC.
	 	By	 	 MURPHYBROWN LLC,
 a Delaware limited
liability company,

	PATRICK CUDAHY INCORPORATED	 	 	 	as a sole member of each
	PREMIUM PORK, INC.	 	 	 	 
	QUIK-TO-FIX FOODS, INC.	 	 	 	 
	STADLER’S COUNTRY HAMS, INC.	 	 	 	By	  	JOHN MORRELL & CO.,
	SUN LAND BEEF COMPANY	 	 	 	 	  	a Delaware corporation,
	SUNNYLAND, INC.	 	 	 	 	  	as its sole member
	THE SMITHFIELD COMPANIES, INC.	 	 	 	 	  	 
	 THE SMITHFIELD PACKING
     COMPANY,
INCORPORATED
	 	 	 	 	  	 /s/ Daniel G. Stevens

	STEFANO FOODS, INC.	 	 	 	 	  	Name: Daniel G. Stevens
	 THE SMITHFIELD HAM AND PRODUCTS COMPANY,
     INCORPORATED
	 	 	 	 	  	Title: Vice President
	 DAKOTA ACQUISITION COMPANY
 JOHN MORRELL OF JAPAN,
INC.
	 	 	 	 	  	 
	MURPHY FARMS OF TEXHOMA, INC.	 	 	 	 	  	 
	THE OHIO FEED LOT, INC.	 	 	 	 	  	 
	 SHOWCASE FOODS, INC.
 KRAKUS FOODS INTERNATIONAL,
INC.
 CATTLE PRODUCTION SYSTEMS, INC.,
     for itself and as successor to Great Lakes Cattle Credit     Company, LLC
	 	 	 	 	  	 

  

			
	By	 	 /s/ Daniel G. Stevens

	Name:	 	Daniel G. Stevens
	Title:	 	Vice President

  

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 MURPHY-BROWN LLC, 
     a Delaware limited liability company 
  

			
	By	 	 JOHN MORRELL & CO.,
 a Delaware
corporation,
 as its sole member

		
	 	 	 /s/ Daniel G. Stevens

	 	 	Name: Daniel G. Stevens
	 	 	Title: Vice President

  

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 ADMINISTRATIVE AGENT 
  

			
	JPMORGAN CHASE BANK, N.A.,
	    as Administrative Agent
		
	By	 	 /s/ Teri Streusand

	Name:	 	Teri Streusand
	Title:	 	Vice President

  

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 LENDERS 
  

			
	JPMORGAN CHASE BANK, N.A.
		
	By:	 	 /s/ Teri Streusand

	Name:	 	Teri Streusand
	Title:	 	Vice President
	
	 COOPERATIVE CENTRALE
 RAIFFEISEN-BOERENLEENBANK B.A.
 “RABOBANK INTERNATIONAL”,
 NEW YORK BRANCH

		
	By:	 	 /s/ James V. Kenwood

	Name:	 	James V. Kenwood
	Title:	 	Executive Director
		
	By:	 	 /s/ Rebecca O. Morrow

	Name:	 	Rebecca O. Morrow
	Title:	 	Executive Director
	
	ABN AMRO BANK, N.V.
		
	By:	 	 /s/ Alexander M. Blondi

	Name:	 	Alexander M. Blondi
	Title:	 	Managing Director
		
	By:	 	 /s/ Kevin Legallo

	Name:	 	Kevin Legallo
	Title:	 	AVP
	
	GENERAL ELECTRIC CAPITAL CORPORATION
		
	By:	 	 /s/ C. Mark Smith

	Name:	 	C. Mark Smith
	Title:	 	Duly Authorized Signatory
	
	ING CAPITAL LLC
		
	By:	 	 /s/ Daniel W. Lamprecht

	Name:	 	Daniel W. Lamprecht
	Title:	 	Managing Director

  

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	SUNTRUST BANK
		
	By:	 	 /s/ Hugh E. Brown

	Name:	 	Hugh E. Brown
	Title:	 	Vice President
	
	 GREENSTONE FARM CREDIT
 SERVICES,
ACA/FLCA

		
	By:	 	 /s/ Ben Mahlich

	Name:	 	Ben Mahlich
	Title:	 	AVP/Lending Officer
	
	 NORTHWEST FARM CREDIT
 SERVICES,
PCA

		
	By:	 	 /s/ Jim Allen

	Name:	 	Jim Allen
	Title:	 	Senior Vice President
	
	BNP PARIBAS
		
	By:	 	 /s/ Tom Ambrose

	Name:	 	Tom Ambrose
	Title:	 	Director
		
	By:	 	 /s/ Gaye Plunkett

	Name:	 	Gaye Plunkett
	Title:	 	Vice President
	
	 FARM CREDIT SERVICES OF
 MINNESOTA VALLEY,
PCA d/b/a FCS
 COMMERCIAL FINANCE GROUP

		
	By:	 	 /s/ Lisa Caswell

	Name:	 	Lisa Caswell
	Title:	 	Commercial Loan Officer
	
	CAPE FEAR FARM CREDIT, ACA
		
	By:	 	 /s/ Randy T. Pope

	Name:	 	Randy T. Pope
	Title:	 	Vice President

  

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	FARM CREDIT SERVICES OF AMERICA
		
	By:	 	 /s/ Kent E. Bang

	Name:	 	Kent E. Bang
	Title:	 	Vice President
	
	WACHOVIA BANK, NATIONAL ASSOCIATION
		
	By:	 	 /s/ Beth Rue

	Name:	 	Beth Rue
	Title:	 	AVP
	
	FARM CREDIT SERVICES OF MID- AMERICA, PCA
		
	By:	 	 /s/ Steven R. Kluemper

	Name:	 	Steven R. Kluemper
	Title:	 	Vice President
	
	HARRIS N.A.
		
	By:	 	 /s/ John R. Carley

	Name:	 	John R. Carley
	Title:	 	Vice President
	
	SUMITOMO MITSUI BANKING CORPORATION
		
	By:	 	 /s/ David A. Buck

	Name:	 	David A. Buck
	Title:	 	Senior Vice President
	
	U.S. AGBANK, FCB
		
	By:	 	 /s/ Travis W. Ball

	Name:	 	Travis W. Ball
	Title:	 	Vice President
	
	BANK OF AMERICA, N.A.
		
	By:	 	 /s/ William F. Sweeney

	Name:	 	William F. Sweeney
	Title:	 	Senior Vice President

  

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	U.S. BANK NATIONAL ASSOCIATION
		
	By:	 	 /s/ Kathi Selimshayev

	Name:	 	Kathi Selimshayev
	Title:	 	Assistant Vice President
	
	COBANK, ACB
		
	By:	 	 /s/ Jim Stutzman

	Name:	 	Jim Stutzman
	Title:	 	Vice President
	
	MIZUHO CORPORATE BANK, LTD.
		
	By:	 	 /s/ Robert Gallagher

	Name:	 	Robert Gallagher
	Title:	 	Senior Vice President
	
	BANK OF TOKYO-MITSUBISHI TRUST COMPANY
		
	By:	 	 /s/ C. Giordano

	Name:	 	C. Giordano
	Title:	 	V.P. & Team Leader

  

 Amendment No. 8FORM OF STOCK GRANT LETTER

 EXHIBIT 10.3(d) 
  
 1998 STOCK INCENTIVE PLAN 
  
 NONSTATUTORY STOCK OPTION AGREEMENT 
  
 BETWEEN 
  
 SMITHFIELD FOODS, INC. 
  
 AND 

 SMITHFIELD FOODS, INC. 
  
 1998 STOCK INCENTIVE PLAN 
  
 Nonstatutory Stock Option Agreement 
  
 Number of Shares Subject to Option: 10,000 
  
 THIS AGREEMENT, dated as of
                    , 20    , between SMITHFIELD FOODS, INC., a Virginia corporation (the “Company”), and
                     (“Participant”), is made pursuant and subject to the provisions of the Company’s 1998 Stock Incentive Plan
(as amended from time to time, the “Plan”), and all terms used herein that are defined in the Plan shall have the same meaning given them in the Plan: 
  

W I T N E S S E T H: 
  
 1. Grant of Option. Pursuant to the provisions of the Plan, the Company has granted to Participant as of
                    , 20     (the “Date of Grant”), subject to the terms and conditions of the Plan and
subject further to the terms and conditions herein set forth, the right and option to purchase from the Company (the “Option”) all or any part of an aggregate of
             shares of Company Common Stock at the purchase price of $             per share (the “Option
Price”), being not less than 100% of the Fair Market Value per share of the Common Stock on the date of grant, such Option to be exercisable as hereinafter provided. The Option evidenced hereby is intended to be a nonstatutory stock option that
does not receive special tax treatment under Section 422 of the Internal Revenue Code. 
  

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 2. Terms and Conditions. The Option evidenced hereby is subject to the following terms and conditions. 

 
 (a) Expiration Date. This Option shall expire 10
years from the Date of Grant. 
  
 (b)
Nontransferability. This Option shall be nontransferable except by will or by the laws of descent and distribution and, during the lifetime of the Participant, may be exercised only by the Participant, except as provided in Section 3 below.

  
 (c) Exercise of Option. Subject to the
provisions of Section 3 below, this Option shall become exercisable as follows. On and after the earlier to occur of (i) the fifth anniversary of the Date of Grant, or (ii) Participant’s sixty-fifth birthday, this Option may be exercised for up
to 100% of the number of shares hereby granted. This Option shall be fully exercisable until the tenth anniversary of the Date of Grant when the Option will terminate by its terms. Notwithstanding the foregoing, this option shall become fully
exercisable in the event of and upon a Change of Control (as such term is defined in the Plan). 
  
 (d) Method of Exercising and Payment for Shares. This Option may only be exercised by written notice delivered to the Secretary at
the Company’s principal office. The exercise date will be (i) in the case of notice by mail, the date of postmark or (ii) if delivered in person, the date of delivery. Such notice shall be accompanied by payment of the Option Price in full by
cash (which shall include payment by check, bank draft or money order payable to the order of the Company). Instead of paying cash, a Participant may exercise by means of a so- 
  

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 called “cashless exercise” pursuant to which Common Stock may be issued directly to the
Participant’s designated broker/dealer upon receipt by the Company of the Option Price in cash from such broker/dealer. 
  
 3. Termination of Option Upon Termination of Employment. The right of Participant and his successors in interest to exercise this Option shall terminate
immediately when his employment with the Company or any Subsidiary is terminated for any reason except as provided in subsections 3(a), 3(b) and 3(c) below. 
  
 (a) Exercise Following Death. In the event Participant dies while he is employed by the Company or any Subsidiary, before the
exercise in full or expiration of this Option, Participant’s estate, or the person or persons to whom the rights under this Option shall have passed by will or the laws of descent and distribution, may exercise this Option at any time within
one year next following Participant’s death (but in any event before the Expiration Date of the Option) for the number of shares exercisable on the date of the Participant’s death. For purposes of the preceding sentence, notwithstanding
any vesting schedule set by subsection 2(c) above, if Participant has been employed by the Company and/or a Subsidiary for at least five years, then this Option (and all of the shares covered hereby) shall become fully exercisable on the date of
Participant’s death. 
  
 (b) Exercise
Following Disability. In the event of termination of Participant’s employment by the Company or any Subsidiary by reason of disability under the Company’s Retirement Plan, Participant may exercise this Option at any time within one
year following such termination of employment (but in any event before the Expiration date of the Option) for the number of shares exercisable on the date of the Participant’s termination of employment. 
  

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 (c) Exercise Following Termination of Employment Other Than Death or Disability.
In the event Participant’s termination of employment with the Company or any Subsidiary (including due to retirement) occurs for reasons other than death, or disability and before the exercise in full or expiration of this Option, Participant
may exercise this Option at any time within three months next following such termination of employment (but in any event before the Expiration Date of the Option) for the number of shares exercisable on the date of the Participant’s termination
of employment. 
  
 For the purposes of this Section 3, it shall
not be considered a termination of employment if Participant is placed by the Company or any Subsidiary on military or sick leave or such other type of leave of absence that the Committee considers as continuing the employment relationship intact.
At the time of any exercise of any Option exercised pursuant to this Section 3, the Option Price shall be paid in full as provided in Section 2. 
  
 Notwithstanding subsections 3(a), 3(b) and 3(c) above, in no event may this Option be exercised after the Expiration Date. 
  
 4. Governing Law. This Agreement shall be governed by the laws of the
Commonwealth of Virginia. 
  
 5. Conflicts. In the event of
any conflict between the provisions of the Plan as in effect on the date of grant and the provisions of this Agreement, the provisions of the Plan shall govern. All references herein to the Plan shall mean the Plan as in effect on the date hereof.
Terms defined in the Plan are used herein as so defined. 
  
 6.
Participants Bound by Plan. In consideration of the grant of this Option, Participant agrees he will comply with such conditions as the Board of Directors and the 
  

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 Committee may impose on the exercise of the Option, and Participant will perform such duties as may be assigned from time
to time by the Board of Directors or by the executive officers of the Company or its subsidiaries operating under the authority of the Board; provided, however, that the provisions of this sentence shall not be interpreted as affecting the right of
the Company or its subsidiaries to terminate Participant’s employment at such time. 
  
 7. Binding Effect. Subject to the limitations stated above and in the Plan, this Agreement shall be binding upon and inure to the benefit of the legatees, distributees and personal representatives of
Participant and the successors of the Company. 
  
 8. Change in
Capital Structure. In the event of changes in the capital structure of the Company, appropriate adjustments in the number of shares for which the Option shall be exercisable or the exercise price, or both, shall be made, as provided in Section
11 of the Plan. 
  
 9. Tax Obligations Upon Exercise. The
difference between the “Fair Market Value” of Company Stock purchased when Participant exercises the option and the Option Price is compensation taxable to Participant as ordinary income and subject to applicable federal and state taxes,
which the Company is obligated to withhold. Participant is required to make arrangements suitable to the Company for the payment of all applicable withholding taxes. 
  
 10. Notice Provisions. Any notice or election required or permitted under this Option shall be delivered in writing
to the Secretary at the Company’s principal offices in Smithfield, Virginia. 
  

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 With this Option, Participant will receive and acknowledge receipt of a copy of the Company’s last
annual report, an explanatory memorandum, a prospectus and a copy of the Plan. 
  
 IN WITNESS WHEREOF, the Company has caused this Agreement to be signed by its duly authorized officer and Participant has affixed his signature hereto. 
  

			
	SMITHFIELD FOODS, INC.
		
	By:	 	  

	Title:	 	  

	
	  

	Name of Participant

  

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